Simple Mail Transfer Protocol Computer Science Essay

Simple Mail Transfer Protocol Computer Science Essay Electronic mail as known as email is a function of sending and received message over the internet. Basically, protocol is a standard method use by sender or recipient to transmit information. It can also be explain by to deal with email, sender or recipient must access to mail server by a mail client to exchange information by using variety of protocol such as SMTP, POP and MIME. 1.2 Simple Mail Transfer Protocol (SMTP) SMTP is only use to send email, but not received email. SMTP provides a set of code that allow server to break up the email message to different parts of categories that can understand by the server and Its a kind of simplify the communication between server and email. For users, they can see the interface of their email software when writing an email message, but once the message has been send out on the internet, everything is change into string of text that can understand by the server. This string of text is separated by numbers and code words that used to identify the purpose of each section and SMTP provides these codes to let email server understand what they means. SMTP also can set up communication rules between the servers. For example, server can identify themselves and will announce what communication they are trying to perform and the other server will authorize and identify the operation, if something went wrong, the receiving server may reply an error message. The greater advantages of SMTP are simplicity and trustworthy. SMTP provides the simplest form of sending an email address between various computer and network. Users only need to enter recipients email address and type in email message to send and the email will go through a simple process from the SMTP to exchange server for the recipients computer. Since the SMTP is simple, email message can be sent quickly and easily. In addition, SMTP is trustworthy because when the outgoing message is not successfully sent, SMTP will keep trying to re-send the same email message until its successful. Since SMTP was created in the early of 1980s. SMTP was build according to basic concept of server communication, because of that SMTP consists of several disadvantages. In those days, Internet was only use by very close community that generally trusted each other, that cause SMTP has lax security holes. For example, it is easy to send email message with fake sender address. This also cause many email-based viruses spread over the internet. Although there have been improve has been made, but it can still cause problems. Most servers these days actually use an updated version of SMTP called Extended Simple Mail Transfer Protocol (ESMTP) that allow to sends pictures or music file through their email program. 1.3 Post Office Protocol (POP) Post Office Protocol (POP) is used to retrieve email from a central base where the email stored and designed to support offline email processing. When the email is delivered to the server, a remote email client will periodically download the messages from the server and filter them into appropriate users folder. Once the email has been received from the client, the message will be permanently deleted from the email server. One of the advantages of POP is once the email message is sent to the client, the message can be read immediately whether user is connected to the internet or not. Furthermore, POP is a very popular email protocol that all email clients can support it. There is a disadvantage of POP is inadequate for the mobile user. Because of email message is downloaded to recipient PC, the user will only able to access the message from one PC. According to this, POP may cause hazel and inconvenient for user to read message only from one PC. Diagram 1: POP email system 1.4 Multipurpose Internet Mail Extensions (MIME) MIME allows user to transfer image, sound, and program as non-text email format attachment in email across the internet. MIME was introduced to improve SMTP in order to send message other than ASCII characters through web client and web server. Now, MIME provides the following extension to email: Non-text attachment such as video, images, audios and other multimedia messages. Send multiple objects within a single message. Write header information in non-ASCII character sets. Write text with unlimited length. Character sets other than US-ACSII. Nowadays, almost every mail is transmitted using MIME format through SMTP. Content type that defined by MIME also benefits Hypertext Transfer Protocol (HTTP) and other communication protocol in email transmission function. As MIME can support character sets other than 7-bit ASCII, languages based on other alphabets can be display correctly presented in a basic email. In turn, SMTP that only support 7-bit ASCII has the limit of languages display that only suitable for writing in English and other small number of language. Moreover, MIME allows user to send other type of information such as images, sounds videos and software program which was not possible to do so in earlier time. In additional, to identify the true nature of a file that is being used in transmission, MIME provides header information to client who received the transmission and selects the protocol to transmit data according to the header. Furthermore, to ensure non-text attachments will be transferred successfully with maximum protection, MIME used Base64 encoding to encode the non-text information into text when email transfer. Overall, these all explain the advantages of MIME bring to email user nowadays. Not surprisingly, there have been a numbers or disadvantage of MIME. For example, the encoding process of MIME may somehow increase the complexity of gateways because a 7-bit world has to encode 8-bit message. Furthermore, a multipart message could lead to passing same data to decode several time. Nevertheless, it now has to pass only the lower-level parts to encode rather than whole message to reduce troublesome. 2.0 How to apply the SMTP and MIME with ASP.NET 2.1 Requirements to use SMTP and MIME The following is the requirements to develop ASP.NET applications. The .NET Framework 2.0 A code-authoring environment A web server, such as Internet Information Services (IIS), and permission to write files to web server. To send email using SMTP server, fsocketopen function need to be enabled. Furthermore, Outgoing Traffic to port 25 by default or whichever port that use to connect to SMTP server must be allowed. Lastly, there must be a valid SMTP server to send email. If one of the above is not successful, errors message such as No connection, Unauthorized and Timed Out will be displayed. REQUIREMENT OF MIME 2.2 Steps on how to create apply and configure SMTP and MIME in ASP.NET project. 2.2.1 SMTP Open up the default.aspx code window from the project, and examine the code used to send an email. Include three imports in default.aspx to run the project and send email message. The application uses the System.Net.Mail libraries to format and send STMP based email message. Declare the variables used to contain information used in sending email. Code send buttons Click event handler, this handler capture users inputs from the page and assign to related variables, then format the message using the variable content. Server and port setting are extracted from the AppSettings contain in web.config file.

Lenovo Case Analysis Essay

Competing at a global scale requires profound brand equity. Lenovo is a well-known brand in China (as Legend) but it cannot become a global technology giant like Dell or Hewlett-Packard, by merely acquiring the Personal Systems Division of IBM, whose products are popular across the world. Normally, the key challenge in establishing global brands lies in devising the manner in which a company can position its brands in customers’ mindsets, while taking into account global competition that comes from national and international suppliers (Wright, Millman & Martin, 2007, p. 139). Lenovo has to engage in intelligent marketing to attract consumers and make itself a force to reckon with in the global personal computer industry. According to the case study, the global PC industry is highly competitive with the leading performers being Dell, HP, Lenovo and its IBM acquisition, and Acer and Fujistu-Siemens among other corporations and vendors locked in tight competition (Quelch & Knoop, 2006, p. 2-3). Therefore, Lenovo has a daunting task to create brand equity to thrive at a global scale. The Key Issues The issue that Lenovo is principally dealing with is how it can effectively enter into the global market, where it is not only struggling against the competition, but is also dogged by an incredulous market. On the surface, the deal between Lenovo and IBM seems to give the former a platform for success due to the complementary nature of the operations of the two firms and because the deal facilitates the expansion of Lenovo’s operations from China and Asia to over 138 countries in the world, where IBM is established (Quelch & Knoop, 2006, p. 6). However, in a marketing research that the company conducts among 4,000 IBM customers, the concerns raised are that the innovation, quality, and service and support are going to be negatively impacted by the takeover of IBM brands by Lenovo (Quelch & Knoop, 2006, p. 9). The grievances held by the consumers are a major undoing to Lenovo’s attempts to create strong brand equity. The criticism shows that the customers harbor negative brand knowledge about Lenovo. Brand knowledge consists of brand awareness and brand image (Wright et al., 2007, p. 140).  Normally, brand knowledge determines the directions that the brand takes and, in turn, this influences the decision that marketers take in creating a brand promise, which entails informing the public about the positive essence of the brand and its purpose (Kotler, 2012, p. 115). The competition must be addressed seriously through a brand promise, with strong product dimensions. A brand’s dimensions differentiate an offering from other offerings that are aimed at satisfying the same need by either emphasizing on product performance by introducing functional, rational, or tangible differences or by emphasizing the symbolic, emotional, or intangible factors (Kotler, 2012, p. 114). Lenovo has the chance to utilize the brand equity creation process that emphasizes on the product performance in the phase of introducing itself into the global market, while intending to rely on the latter dimension in the long run. Brand equity is created by thoroughly satisfying the presence, relevance, performance, advantage, and bonding dimensions, in an increasing order of importance (Kotler, 2012, p. 116). Profound consumer loyalty is achieved after the firm attains a market share. Companies acquire a share of the heart and a share of the mind of customers by being authentic and genuine, aspects, which lead to higher, market share and profitability (Kotler, 2012, p. 135). As much as the chief marketing officer of Lenovo states that branding is a business issue rather than a marketing issue, the brand is a matter of the perception created by product’s substance and marketers’ efforts. Alternative Courses of Action The courses of action that can be taken by Lenovo include establishing a master brand, a house of brands, synergy approach, or the strategy referred commonly as Lexus/Toyota. First, the master brand strategy can be useful for creating a brand equity for Lenovo on a worldwide scale, but there are fears that the ThinkPad influence may be lost if this strategy is adopted. Second, the house of brands approach can enable the firm to establish many brands at once, but it is expensive to market the different brands. Third, the synergy approach will let the company have Lenovo as a master brand, while the ThinkPad shall be regarded as a superior sub-brand. Fourth, under the Toyota/Lexus strategy, a premium line of ThinkPad brands are established alongside basic Lenovo brands (Quelch & Knoop, 2006, p. 9). Evaluation of  the Alternative Courses of Action The course of action that the company should choose has to address the global market conditions, while also upholding Lenovo’s desire to compete internationally. To gauge the conditions in this market environment, the company engages in extensive marketing research. The research comes in handy in helping the company to make well-informed decisions, to understand the marketplace, and most importantly, to learn about customer satisfaction and the value of goods on offer. In addition, the advantages of the primary data collected are that the respondents pinpoint their challenges concerning the use of personal computers in business, give voice to current concerns, and enable the firm to gauge the needs in different nations. The master brand option is challenging to Lenovo since the market regards it as untrustworthy. The high level of dishonesty with which Chinese firms are regarded in the rest of the world is a major detractor to the success of this strategy (Quelch & Knoop, 2006, p. 8). If this approach is chosen, building favorable brand knowledge would not be an easy thing for Lenovo, in spite of having the reputable ThinkPad brand at its disposal. The ThinkPad acquisition doubtlessly makes Lenovo have a comparative advantage in the global scope. The ThinkPad has already won a lot of accolades for design and engineering innovations since it was introduced in 1992, with some of its superior qualities being power, portability, and wireless networking (Quelch & Knoop, 2006, p. 6). The marketers in Lenovo must therefore create positive brand knowledge if they choose this option. Failure to achieve this means that even the premium ThinkPad brand shall be thought of as an inferior product by consumers. The house of brands option would make the company incur a lot of expenses in the marketing function, without necessarily achieving the desirable sales of any of the brands. The company’s CMO concedes that this strategy cannot succeed since the company had limited resources at the time (Quelch & Knoop, 2006, p. 9). House-of-brands has brands that are independent, which are somewhat endorsed by the organizational brand (Rajagopal & Sanchez, 2004, p. 238). However, the reputation of the Lenovo as an organization in the international market is not favorable at this juncture hence it cannot promote brands effectively. The synergy approach, which entails a master brand getting recognition  partially due to a superior sub-brand, would require investments to jointly build the Lenovo and the ThinkPad brands (Quelch & Knoop, 2006, p. 9). The ThinkPad sub-brand would be expected to be a co-driver in the success of Lenovo. The shortcoming of this approach is that the association might taint the image of the prestigious brand if the brands do not have comparable qualities (Aaker & Joachimsthaler, 2000, p. 15). Clearly, ruining of the ThinkPad brand will certainly end up undoing the entry of Lenovo into the global market. The Toyota/Lexus strategy will force Lenovo to establish luxury and mass market brands separately. This strategy will entail implementation of dissociated brands, with each expected to perform well within its segment. However, under the global environment into which the firm is entering, creation of a mass product is not feasible. The use of PCs has become ubiquitous and consumers are looking for enhanced innovation, better quality and reliability, tighter security, and better design (Quelch & Knoop, 2006, p. 10). To offer customers the desired product, the firm was supposed to invest in enhancing computer products, rather than producing low quality cheap products. As a result, this strategy can make the company lose its core business. After considering all the branding strategy options, Lenovo managers should appropriately consider the category membership under competitive frame of reference. Category membership refers to the products with which a brand competes and which are close substitutes to it (Kotler, 2012, p. 130). The managers should to establish points of differences that would make the company have a competitive edge. At the present, Lenovo pursues a legacy of customer focus, innovation, and dependability (Quelch & Knoop, 2006, p. 7). These aspects have a potential of making make the products it offers distinctive and superior in comparison to competitors in the global market. The focus of the company should be on long-term holistic performance of its products. A well established brand value drives brand loyalty among customers, making the company to enjoy security of demand, making it hard for new competitors to enter the market, and making the customers willing to pay a higher prices for the offering (Kotler, 2012, p. 114). The Best Course of Action According to the facts presented in the case, the adoption of Lenovo as a master brand is the best course of action. Though this alternative is risky,  it is worthy because of the ultimate good image it would create for all the brands on offer at a global scale. Making Lenovo a master brand helps to make the core products of the company to the entire world. Master or family branding is where a family brand is associated with several brand extensions. The use of the company’s brand name across the entire products’ range lowers development costs and boosts sales if the corporate image is associated with innovativeness, expertise, and reliability, which are factors that influence consumer evaluations directly (Kotler, 2012, p. 123). The company actually chooses to use this strategy with great level of ingenuity. The first global advertising campaign is signed off with â€Å"ThinkPad,† the second campaign emphasizes that Lenovo is doing better than IBM by improving the ThinkPad, while the third campaign stresses that the Lenovo master brand represents innovation (Quelch & Knoop, 2006, p. 10). Introduction of brand extension is facilitated under the master brand. New products that are introduced as brand extensions often succeed because the customers’ expectations of the new product are based on their knowledge about the parent brand and how relevant they find the information (Kotler, 2012, p. 123). Any product sold under an umbrella of a brand name develops an identity out of the customers’ perceptions of the product, the marketing activity, word-of-mouth marketing, and the individual psychological set of customers (Wright, et al., 2007, p. 140). In effect, corporate brand endorsement in the international markets reassures consumers and is an integrating force, which unifies different brand identities on a global scale (Rajagopal & Sanchez, 2004, 246). Assurance that consumers benefit from the product is vital for successful marketing. Moreover, brand equity is leveraged in a new context if the master brand makes the product more appealing to customers and its positive associations are relevant and appropriate (Aaker & Joachimsthaler, 2000, p. 18). With the master brand strategy in place, continuous success of the Lenovo brand and its extensions is guaranteed. References Aaker, D. A. & Joachimsthaler, E. (2000). The brand relationship spectrum: The key to the brand architecture challenge. California Management Review, 42(4), 8-23. Kotler, Philip. (2012). A Framework for Marketing Management, P. Kotler and K. L. Keller (Ed). Upper Saddle River, NJ: Pearson education Inc. Quelch, J. & Knoop, C. (2006). Lenovo: Building a global brand. Harvard Business School. Rajagopal & Sanchez, R. (2004). Conceptual analysis of brand architecture and relationships within product categories. Brand Management, 11(3), 233–247. Wright, L. T. Millman, C. & Martin, L. M. (2007). Research issues in building brand equity and global brands in the pc market. Journal of Marketing Management, 23(1-2), 137-155.

Objectives And General Principles Of Mergers Finance Essay - Free Essay Example

Sample details Pages: 8 Words: 2345 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? The panel of mergers and takeovers was established in 1968, in U.K, and since then has worked as an administrating body of the city code on mergers and takeovers. The fundamental objective of this body is to ensure that all the shareholders are treated fairly, on an equal basis, in cases of mergers and takeovers. The panel of takeovers and mergers is a chief body in U.K who acts as a regulator on these issues. Don’t waste time! Our writers will create an original "Objectives And General Principles Of Mergers Finance Essay" essay for you Create order The pillars/ proposition on which the code rests are: Equal treatment of all the shareholders belonging to the same class of shares. Basically, this proposition ensures the fair treatment of all the shareholders involved To enable the shareholders to make the best decision for themselves, the code ensures that they have timely information which is accurate and relevant, and may influence shareholder decision for their best interest The code also ensures that true market mechanisms are the only reflective of the prices of the security and no artificial factor affects them i.e. no false markets The board will not take any decision without prior knowledge of the shareholders. General principles The six general principles are the pillars on which the code rests upon. These general principles are basically the statements of good standards of commercial behavior. Besides, the general principles are further branched out into 38 rules, which are elaborated by their respective notes. The notes serve both to expand and explain the respective rule. The following figure highlights some of the vital rules of the code: rrrr.bmp  [1]  Adapted from General principles and rules, the Takeover Panel. Economic reasons for acquisitions and mergers Reasons There may be many motives behind the merger or acquisitions of companies. Each company may have its own set of unique reasons for going for either merger or acquisition. However, the reasons that may be common to all cases include: One possible reason behind merger or acquisition may be the consolidation of markets. The products most firms today are similar in nature, differentiated only to slight extents. The merger or acquisition may be a possible option in face of competing markets that would reduce the number of firms competing in the market and make them more consolidated. Merger or acquisition is a quick way of increasing the capacity of the firm. In addition, the acquired or merged firm both is from the same industry, and therefore would have similar expertise. No costs are incurred on training or obtaining machinery etc. Mergers and acquisitions also present the advantage of decreasing long run average cost as it begins to realize the economies of scale due to larg e scale production. A firm may feel that a gap exists in its existing portfolio and it is not catering fully to the market needs. A firm may sometimes want to counter a decline in sales of one industry by acquiring a firm in another industry. A firm may also wish to counter seasonal trends. All this can be achieved through mergers and acquisitions. A firm may merge with, or acquire another firm in a different industry, or selling products that the firms existing portfolio lacks. Another motive behind mergers and acquisitions is the forward and backward integration, towards the distribution channels, or backwards towards the sources of raw materials. In both cases, the motive is to have a stronger hold on the stages of the value chain, and may also be to restrict the supply to competing firms. Firms may also wish to have a greater access to technology, skills or sources of finances. The amalgamated firms of course have more vistas of opportunity when they operate as a single entity. Tax aversion may be another motive. Most countries laws levy more tax on idle cash than on operating businesses/assets. A merger or acquisition would not only enhance the operations of a firm and provide more sources of income, but would also provide tax exemptions. Reasons why expected economic benefits may not be achieved The potential advantages of mergers and acquisitions presented above may not offer the same benefits to all the stakeholders, and therefore a conflict of interest may not lead to benefit of all. The mergers and acquisitions are mostly from the organizations perspective, seeing only its economic gain, and therefore may overlook other stakeholders such as the customers and employees. One issue that must be addressed is that whether the management will be able to run both businesses simultaneously. Also, there remains a question whether the combined entity will be a as efficient as the two businesses operating independently. The clash of organizational cultures, structure and design further aggravate the problem and the economic benefits may not materialize. The change in the work environment, management and employee behavior might stop the firm from gaining the desired benefits. The firm must, therefore, try to arrive at a compromise which addresses the interests of all stakeholders. To sum up, the probable reasons which might stop the merger or acquisition to deliver the economic benefits that the firm may be expecting are: Human factor Difference in cultures Lack of integration Transition carried out without regarding employees sensitivity Lack of productivity due to unhappy workforce The company must have an integration plan in place for the post-merger or post- acquisition situation, to smoothly lead the transition from being a single entity to a combined one. Failure to incorporate an integration plan may cause the potential benefits of the amalgamation to transform into drawbacks and losses. To say in a nut shell, any decision to carry out a merger or acquisition should consider not only the legal and financial implications, but also the human consequences the effect of the deal upon the two companies managers and employees. It is upon them, ultimately, that the fate of the newly-merged company will depend. Part II Long term funding options available for unquoted Small and Medium Business Enterprises, and discuss the advantages and disadvantages of these funding options The following figure shows the long term funding options available to small and medium business enterprises: Type of funding Advantages Disadvantages Internal funds No accountability to third party Flexibility since there are no payment terms Credit score ratings are not affected Limited sources of finance Unlimited liability Loans bigger amounts can be borrowed Lower interest rates than overdrafts Regular repayments help to forecast cashflow Less flexible than compared to overdraft Inability to pay during designated time leads to further financial problems Overdrafts Borrowed amounts is flexible within limits Interest paid only on borrowed amounts Easy availability in time of need Quick and good source of cash backup Cannot be used for large borrowing Higher interest rates than loans Bank can ask for repayment anytime Overdrafts are secured against assets, and therefore put assets at stake in case of non payment Leasing and hire purchase arrangements Medium term funding regular nature helps plan cash flows payments are fixed, and therefore easy to plan payments Hire purchase and leasing agreements are long term commitments Variable rate payments makes it difficult to plan Stock market equity and corporate bond issues Source of cash flows finances can usually be kept for an indefinite period A Company can raise more capital than it could borrow. No repayment of principle amount Loss of Control Responsibility to shareholders for dividend payments Asset Disclosure Risk of takeover by rivals Dilution of value Venture capital or private equity Funding is restricted to the business project Venture capitalists can bring important skills, links and knowledge to your business. Venture capitalist can aid with secisionmaking and strategy In case of growth and profitability, further funding can be provided by the same investors Raising equity finance is time consuming and costly Have to provide info to potential investors Loss of decision making power Asset-based finance such as factoring and invoice discounting Small companies can usually get more cash more quickly than they could from a traditional bank loan. Asset-based lenders and factors offer a variety of services that encompass accounts receivable processing, collections and invoicing. Using assets to raise money causes profits cut. Part III Arguments for and against foregoing distribution of dividends and investing the funds saved The dividend policy always has some tradeoffs. Sometimes paying dividends means retaining little from the income. Conversely, as proposed by the director, not paying the dividends means that the profit is retained and invested. This means a lesser reliance on externally generated funds. The tradeoff should be made keeping in mind the firms objectives, whether paying dividends to the shareholders is more important, or whether investment would be more beneficial in long run.The two cases are a tradeoff between shareholders receiving dividend in short run, and the value of their stock increasing due to the investment. The residual dividend theory states that dividends should only be paid when there are residual earnings after investment purpose. However, if the shareholders are not happy with the no-payment policy, they may sell their shares to obtain an income. The arguments against the nonpayment of dividend are that shareholders are not usually pleased when they are not pa id dividends. However, if it is communicated to them that the income would then be used to finance investments projects, they might as well support the nonpayment as the investment ultimately improves the value of the firm and its shares. According to the corporate document repository  [2]  , the major reasons for using retained earnings to finance new investments, rather than to pay higher dividends and then raise new equity for the new investments, are as follows: The management of many companies believes that retained earnings are funds which do not cost anything, although this is not true. However, it is true that the use of retained earnings as a source of funds does not lead to a payment of cash. (Basic finance for marketers, 1997) The dividend policy of the company is in practice determined by the directors. From their standpoint, retained earnings are an attractive source of finance because investment projects can be undertaken without involving either the share holders or any outsiders. (Basic finance for marketers, 1997) The use of retained earnings as opposed to new shares or debentures avoids issue costs. (Basic finance for marketers, 1997) The use of retained earnings avoids the possibility of a change in control resulting from an issue of new shares. (Basic finance for marketers, 1997) Alternatives to cash dividends Dividend may be paid out in the form of stocks, and therefore is not a true dividend as it is not paid out in cash. This has the effect of diluting the share value by increasing the number of outstanding shares. Dividend reinvestment policy, DRIP, is another alternative to cash dividends. DRIP gives shareholders a chance to reinvest the money they would receive as cash dividend into additional shares of stock. DRIP is attractive as shareholders do not have to pay brokerage commission on stock purchase. Spin off shares are also referred to as property dividends in which a corporation gives out some valuable property to shareholders instead of cash dividends. The spin off shares may be shares of a subsidiary that the company owns. Past trends show that mostly spin offs are better than the parent company in terms of performance, and hence shareholders are better off. Shareholders may go for a no-dividend or low-dividend policy when it is communicated to them that for companys health and stock price, they may have to forgo cash dividends. Advantages and disadvantages of share repurchases, i.e. a company purchasing its own shares. Share repurchases reduce the number of outstanding shares of a company, thereby giving the shares a larger ownership in the company. The advantages and disadvantages of share repurchases are as follows: Advantages There is no additional tax imposed on share repurchases, and therefore it is a good way to increase the capital of shareholders. The equity/ownership of the shareholders increases and this means a greater potential of profits and dividends on shares. The share repurchases basically reduce the number of outstanding shares of the company. This is favorable as it reduces the dilution of the shares. Share repurchases reduce the number of outstanding shares. This means that a greater proportion of companys retained earnings are attributable to each outstanding share. Therefore, the EPS(earning per share) increases. Share repurchases reduces the fear from the corporate raiders. Undervalued shares of a profitable company are very attractive to companies seeking to acquire that company. Share repurchases, in effect, reduces this risk as the company repurchases its own shares. Furthermore, the future profit from these shares also goes to the company itself. Share repurchase may give out a positive signal to the public, as they may think management is repurchasing the shares because it thinks it is undervalued. Income received from share repurchases is the capital gain for a company. The repurchased stock can be resold to raise money when needed. Stock repurchases provide an internal investment opportunity to the corporation. If a firm wants to alter its capital structure, stock repurchase is an available option. Buybacks also has the advantage of eliminating minority group of stockholders. Also, it reduces the costs incurred by the firms in servicing small stockholders. Disadvantages There is an opportunity cost for every decision made by businesses today. The money used in buying back of shares could have been invested to a more optimal use, which perhaps would generate return on assets. Different financial metrics have different results of share repurchases. A buy back could result in a higher debt ratio. If the stock buybacks are issued to the companys management, the number of outstanding shares would remain the same and therefore no positive impact on EPS. If the public perceives that company is buying back its shares because it does not have any investment opportunity, this may be unfavorable for the company. Firm may have to pay penalties if the regulatory authorities such as the IRS think that buyback was to avoid taxes. A firm may end up paying a higher price for its own share if it has to bid up the prices of the shares.

Jesus Christ and Functionalist and Conflict Theory Essay

Jesus Christ sought to improve the individual, the component of society, and as result, his teaching ideally aims to advance the well-being of society as a whole. The four Gospels and the book of Acts thoroughly demonstrate the extensive sociological knowledge that was present in Jesus’ teaching. His message facilitates personal reform, rather than change in the social structure alone. Although Jesus establishes the church as a social institution, he does so, only after a number of individuals become his followers. Jesus teaches that society should be orderly. In order to understand his approach, one must first understand the functionalist theory. He conveys his message with a common language that is appropriate to the situation,†¦show more content†¦Although one may claim Jesus was a strict functionalist, his focus was more on the divine order, expressed in unity, love, communion, and oneness, rather than a caste-like system. By eradicating the individual personal ills that damage society, Jesus helped increase the body of knowledge that promotes societal harmony. His main opposition was from the Pharisees, Sadducees, teachers of the Law of Moses, and the Chief Priests, who mistook his efforts of teaching the people as a threat to their prestigious social positions. The class disparity is evident pervasively throughout the four gospels and Acts, a vivid example being the death of John the Baptist whom Herod beheaded. When John spoke out against Herod’s immoral behavior, Herod used his higher social position and authority to suppress John’s voice and as a result murdered him. John’s limited social mobility and high status consistency forced him to suffer the consequences of his actions, while Herod’s murder went unpunished by the Roman officials. Social position therefore played a significant role in influencing the lives of ordinary individuals living in the New Testament times. The various symbols Jesus employs in his preaching reflect the common lives of most of his hearers. The agrarian and pastoral themes were especially popular, because many Israelites were farmers and shepherds. Most of Jesus’ parables andShow MoreRelatedBirmingham Jail Functional Theory1638 Words   |  7 PagesBirmingham Jail† shows the way of nonviolent adjustment of the social conflict and stages of this way: â€Å"collection of the facts to determine whether injustices exist negotiation; self-purification; and direct action† (MLK np.). Martin Luther King was the first person in western history to show that you can achieve change without going into violent measures. While taking a sociological viewpoint and following two of its major theories. 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In 1986, two evangelists are reported to have claimed, during a record and tape burning in West Virginia, that the Mr. Ed television theme song had satanic backwordings (also, AC/DC is supposed to stand for Anti-Christ/Devil’s Children, and KISS for Kids In Satan’s Service, see Wishnia 1987:445). Cardinal O’Connor of New York condemned heavy metal for its satanist references (Adler et al. 1990:57). Science and the Study of Music Censorship Professors (and

The Vocation of the Business Leader A Reflection

PONTIFICAL COUNCIL FOR JUSTICE AND PEACE VOCATION OF THE BUSINESS LEADER A REFLECTION FOREWORD From the 24th to 26th of February 2011 a seminar entitled â€Å"Caritas in Veritate: The Logic of Gift and the Meaning of Business† was held at the Pontiï ¬ cal Council for Justice and Peace (PCJP), in collaboration with the John A. Ryan Institute for Catholic Social Thought of the Center for Catholic Studies at the University of St. Thomas and the Ecophilos Foundation. The meeting followed the October 2010 conference â€Å"Caritas in Veritate and the USA†, which the PCJP held in partnership with the Institute for Advanced Catholic Studies of Los Angeles, and continued its study of business organizations in light of Pope Benedict XVI’s social†¦show more content†¦The transformative developments of our era — globalisation, communications technologies, and ï ¬ nancialisation — produce problems alongside their beneï ¬ ts: inequality, economic dislocation, information overload, ï ¬ nancial instability and many other pressures leading aw ay from serving the common good. Business leaders who are guided by ethical social principles, lived through virtues and illuminated for Christians by the Gospel, can, nonetheless, succeed and contribute to the common good. Obstacles to serving the common good come in many forms — lack of rule of law, corruption, tendencies towards greed, poor stewardship of resources — but the most signiï ¬ cant for a business leader on a personal level is leading a â€Å"divided† life. This split between faith and daily business practice can lead to imbalances and misplaced devotion to worldly success. The alternative path of faith-based â€Å"servant leadership† provides business leaders with a larger perspective and helps to balance the demands of the business world with those of ethical social principles, illumined for Christians by the Gospel. This is explored through three stages: seeing, judging, and acting, even though it is clear that these three aspects are d eeply interconnected. 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Why Smoking is Bad for You Free Essays

Did you know that the primary cause of death around the world is smoking? Are you aware that every cigarette you smoke reduces your expected lifespan by eleven minutes? And that 4. 9 million people world wide dies as a result of smoking? Smoking Is a common and popular occurrence and also responsible for approximately ninety percent of lung cancer deaths. Smoking is a bad habit and is also very hazardous to those who don’t smoke. We will write a custom essay sample on Why Smoking is Bad for You or any similar topic only for you Order Now So, before you act heedless, stop and think about what smoking will do to you and the people around you. Smoking cigarettes is a commonly pastime in the United States. At almost ever super market or gas station there are ads encouraging you to buy cigarettes. Which the smoke from the cigarettes contains over seven-thousand chemicals, sixty-nine of them are known to cause cancer which eventually lead to your dead. There are kids getting Influenced by these ads. Smoking Is abhorrent because it’s not good for you health, not only good for your health but does as much damage to the ones around you, and It also makes drastic changes In your appearance. One of the many reasons why I think smoking is bad for you is obviously because of al the health problems smoking causes. From smoking just one cigarette can lead you on your way to cancer because of the nicotine it contains. Nicotine does not cause cancer, it is an addictive drug. This can eventually make you go from one innocent smoke to multiple smokes, which then leads you to being an addict and from addict to patient with lung cancer. In other words your death sentence and I know you don’t want that for yourself. In a way by smoking you encourage cancer. Because you know what cancer can lead to so Instead of wasting your money on a cancer suck you should donate It to find a DOD cause, for Instance finding a cure to cancer association. You may say â€Å"But smoking helps me when I’m stressed out† or â€Å"Smoking makes you look cool† please no disrespect but please keep your trap shut. If you’re stressed find something besides smoking, find a hobby, go for a run, and make a plastic of your favorite songs that help you stay calm, or eat if that helps you and for smoking being ‘cool’ do you think its cool when there are infants who breathe second hand smoke and causes them have weaker lungs than other babies. Do you think it’s fair? Or do you think is so ‘cool’ hat there is patients painfully dying in hospitals because they decided to smoke and now are suffering the consequences? If you do please think again its not cool or funny It Isn’t safe for yourself or others around you. Now please stop Influencing smoking and realize how smoking Is a major Issue because It affects you and your loved ones. When I think of smoking I think of all the different ways people can make a change in this situation instead of encouraging it. Please think before you decide you need another cigarette to release some stress or because others think your cool Just because you smoke something so harmful. How to cite Why Smoking is Bad for You, Papers

Traits And Dynamics Of Tourism Destinations-Myassignmenthelp.Com

Question: Discuss About The Traits And Dynamics Of Tourism Destinations? Answer: Introducation I work for Australia Department of Tourism which is a government institution task with the management of tourism in Australia. The Australia Department of Tourism works at the national level as a branch of the government of Australia in charge of tourism. The Australia Department of Tourism is a government agency task with tourism management. The department plays a major role in attracting tourist to Australia. The role the agency is to provide information and current data on tourism and advertise the Australian tourism within the country and globally. The value of the organization or agency is to build resilience and competitiveness Australias tourism industry and increase its economic contribution to the Australian economy (Luce 2003). The organization has both external and internal influence that shapes the operation of the organization. The organization has goals such to achieving more than $115 billion budget in overnight spend and maximum economic contribution of the tour to Au stralia (Australian Bureau of Statistics, 2014). My plan seeks to address the effects of the reduction of flora and fauna that are the main tourist attraction in Australia especially in Tasmania East Coast. According to CSIRO, one of the megatrends is what it calls Going, going ... gone? and concerns continuous depletion of the flora and fauna which is the main tourist attraction (Hughes, Daily Ehrlich 2000, Pages 7183). Background context Most of tourists that come to Australia are attracted to unique beautiful flora and fauna found in the Tasmania East Coast region. Tourism is faced by several issues that include the depletion of natural resources that are the tourist attraction and need to be considered deeply. For instance, thylacine an animal that used to live within Tasmania was exterminated in the region in 1936 (Boyce 2006, pp 102-129). Tourism, more so at the national level, requires to reviews flora and faunas depletion rate issue since it points to detrimental level. Only 42% of this region is currently under protection and there is need for more of these resource to be protected especially near East Coast region (Fernando 2014, pp. 34-50). Most of the visitors coming to Australia are attracted due to the natural resources within the Tasmania East Coast (Department of Foreign Affairs and Trade, 2017). Visitors that visited Australia within the financial year that ended in June 2017 are estimated to be 8.5 million. This number is estimated to be 8.9% increase from the previous year. Per Wattanacharoensil Schuckert (2016), the income that is plowed into the Australian economy is approximate $40.6 billion. The figure also represents 7% increase from the previous year (Dredge Jenkins 2007, p 336). Natural resource conservation is one of the areas within the tourism sector that play an important role with a reasonable number of employees. Generally Australian tourism industry employs around 1 million employees of which 929000 are employed either directly or indirectly in the tourism sector of the Australian economy. The number of employees in tourism sector represents 8% of all employees in Australian labor market. Of this number, 7% are employed in conservation of flora and fauna. More than 2000 employees for instance are employed directly in national parks on permanent basis alone (Australian Bureau of Statistics 2014). Some other huge numbers of employees are indirectly employed in conservation and conservation research related areas. The employees number still deficit with nearly 38000 vacancies remaining unfilled in the tourism sector. Four key issues remain a challenge in the tourism sector in Australia and this is improving employee recruitment to get the best employees, enhancing regional workforce, education gap identification, increasing work mobility (Dianne Tazim 2015, pp. 285-297). There are many drivers for natural resource conservation that cut across economic, socio-cultural, technological, demographic, environmental and political. Socio-cultural drivers of resource conservation and tourism are resources. Demographic drivers focus on the increasing population that poses challenges in the existence of natural resources. Increasing population exact more pressure on the available land hence reduces the land available for natural forest and animal living within. Policies are the main political drivers for natural resource conservation which may reduce depletion of the natural resource. The Australian government has develops policies aiming at the conservation of plant and animals though much need to be done. Environmental drivers that increase depletion of natural plants and animals include climatic changes and natural disasters that reduce plants and animals (Christof 2006, Pages 87-108). Reduction of natural resources is important as it touches the entire economy of Australia though have the equally high impact of natural resources if felt in the tourism sector. Firstly, the depletion is not only a national disaster but also global issue (Airey Chong 2011). The rate at which natural resources are going away is worrying and more effort is needed in order to curb the reduction rate. Secondly, natural resources being a major tourist attraction to the Tasmania East Coast, its reduction become a major problem for the economy since there is much wealth that is tied to natural resources. Loosing tourist attraction means losing visitors and therefore more than $40.8 million that comes from tourism sector is most likely to be affected. Thirdly, reduction of natural resources especially natural plant causes climatic changes that are also dangerous for tourism sector (Beschta 2003, pp 12951309). CSIRO has cited reduction of natural plants and animals as one of its megatrends with the title of Going, going ... gone?(CSIRO, 2017) the rate at which plants and animals are depleted is worrying that point to the development of policies with a clear plan on how to address this megatrend. National parks are some of the major tourist attractions that harvest a huge amount of money from tourist throughout the year. These parks purely bank on flora and fauna as a tourist attraction and therefore reduction of these resources mean the destruction of tourist attraction. There is the need for urgent development of policies and plan to safeguard the depletion of these plants and animals. The flora and fauna form some of the basic features of country's resources with the capability to attract many visitors. Yet per CSIRO, these resources are going away with some areas already gone (Plger 2001, pp 219241). A Statement of Need Plant to protect and safeguard flora and fauna in Tasmania East Coast is needed to help preserve resources for future and continuous anesthetic purpose. Natural resource protection plan is needed to reduce the rate at which plants are going away due to depletion. Though there are parks such as Freycinet under conservation, there are needs to increase more Tasmania wilderness under conservation (Konar Estes 2003, pp 174185). The government plays a critical role in the plan since the government should develop a plan and implement the plan. Firstly, natural plant and animals protection plan need the government funding and this forms the crucial aspect of plan implementation. The major source of funding for the plan is expected to come from the government through Tourism Australia department. Tourism Australia pay reasonable amount of money to ensure that conservation is maintained in all restricted areas (Department of Foreign Affairs and Trade, 2017). Secondly, political goodwill from the government in adoption and implementation of the plan sets the ground for protection of these tourist attraction resources. It is worth noting that natural resources that include natural plants and animals are under government protection and any plan need approval from the government. The business community also plays an equally important role in the protection of plants and animals since they form part of tourism value chain (Gajdok et al 2017, Vol.24). Major stakeholders in this plan are tourism industries, the government, tourists, community, and scientists. Most of the visitors who are attracted to these flora or fauna resources come from hospitality industries. These industries include hotel industry, transport industries, and tourism marketing industries that are directly or indirectly involved in the utilization of natural resources (Newsome 2001, P.2033). Secondly, the government is another stakeholder that offers funding and all the resources that are needed to protect and conserve natural resources. Moreover, the government helps in implementation of plans that aim at conserving plants and animals including their environments. Thirdly, tourists are attracted by these plants and animals and are therefore also stakeholders that play role in implementation of the plan. Fourthly, the community is another stakeholder with the capability to help the government protect plant and animals resource from destruction. Finally, conserva tionist or scientists form a battery of experts that study and develop ways to conserve natural resource (Honnold et al, 2005, pp 168-176). Key trends that influence depletion of plants and animals are climatic change, human activities that put more pressure, natural disasters and political issues. Firstly, climatic change is the number one threat to flora or fauna as the change in climatic condition is currently characterized by drought. This is dangerous to the life of plants and animals as plants dry up leaving bare grounds with limited animals habitat (Sainaghi Baggio 2017, Vol.63). Secondly, human activities such as industrialization and human encroachment are currently reducing the forest to either residential or industrial area. Thirdly, natural disasters such as bushfires and earthquakes are major devastating causes of plant and animals destruction that need to be factored in the plan. Fourthly, political factors such as government policies have much influence in the reduction of natural plants and animals (Albrecht 2015). The challenges that remain paramount to development and adoption of natural resource protection are finance, political will, lack of corporation form major stakeholders. Firstly, financial resources form the basis of conservation and are needed more so at the implementation. The tourism Australia being a government agency can source financial resources from the government for the implementation of this policy or plan (Sanderson et al, 2007, pp. 810-813). Secondly, in a government agency, one of the challenges is lack of political goodwill for the implementation of the plan. For the agency to respond to this challenge the agency should look for ways to pressure the government to accept the plan. Stakeholders cooperation is another challenge as many stakeholders sometimes dont cooperate with the project management jeopardizing the whole problem. The Tourism department as an agency needs to bring together all the stakeholders on board to understand the necessity and importance of protec ting the environment, plants and animals as the basic tourist attraction resources (Gillian 2011, p. 29). The government of Australia need to be involved in the plan since the agency involved is a government agency. The plan or policy will form part of government policies that aim at reducing natural resource depletion. Government is the main fund source that will help in the implementation of the plan. In addition, the government through the tourism department should raise the conservation policies as core strategy or development business strategy (Yu, Li He 2017). The desirable effects, benefits, and outcomes of the plan have both long-term and short-term effects. Short-term benefits of conserving natural plants and animals are based on the value of natural plants and animals (Shone, Simmons Dalziel 2016). Natural plants and animals are the major tourist attraction that attracts visitors coming to Australia. On the long-term benefits of the conservation include environmental benefits. Trees that form the better part of flora modifies climates are the major water catchment. Natural plants are the source of manure that fertilizes the soil hence maintaining the structure and health. Reducing depletion of natural plants and animals has the effects of improving both the environment and climate. Therefore, the plan seeks to address the continuous depletion of natural plants and animals that is one of the megatrends listed by CSIRO (Howell et al, 2017, pp 662-670). Scope of the proposed plan The two major possible plan approaches are community involvement and massive conservation of flora and fauna especially along Tasmania East Coast. Firstly, the first major approach community involvement in resource conservation that aims at reducing any destruction of plants and animal habitat. Communities are the critical stakeholders in plants conservation and need to be involved at every level including at national level. Secondly, sustainability approach is another strategy that can assist the government to initiate the sustainability in natural resource management and conservation. The sustainability approach makes use of proper utilization these natural resources without depletion. Thirdly, areas restriction approach restricts areas still under natural forests or animal so as to protect these resources from destruction and depletion. Areas that are still under natural resources especially within Bichero and St Helens that have not been conserved or protected need to be the rest riction (Lynn, Scarles, Tribe 2016, pp. 97-110). There are some instruments that need to put in place to ensure that the plan is successful. Some of these instruments that need to be used and these include legislation and manpower. Firstly, the government needs to put in place laws that restrict certain areas for conservation of within East Coast. Various areas that are restricted need to be covered in-laws so that it allows the conservationists enforce the restriction. Secondly, manpower is other instruments that are put in place to spearhead the campaigns for conservation of these plants and animals. There are several human resources that are used in drive the campaign for both community and conservationists (Fernando 2014, pp. 34-50). Several instruments could be used more effectively in driving the conservation plan. Firstly, financial or money resources are used to drive conservation and conservation campaigns. Advocacy is another instrument that plays an important role in conservation to reduce depletion of plants and animals. Government action can be used effectively in enforcing restriction in natural resources. The government actions also are important in the mobilization of resources that are used in conservation. Laws are some other instrument that if it used effectively, laws are used to enforce conservation (Dredge Jenkins 2007, p 336). Advantages of the conservation plan are sustainability, environmental benefits, and monetary values. Firstly, sustainability advantages ensure that while using natural resources there is continuous uses and reduced depletion. Sustainability ensures there is reduced depletion of natural resources to ensure that natural resources remain to continue giving service. Secondly, another advantage of the natural resources is environmental benefits that include climatic modification and soil protection. Thirdly, the plan works to safeguard tourist attraction resource that attracted to Tasmania East Coast. Monetary value is another advantage of conserving the environment. Some natural resources are exploited for monetary value since natural resources are used for various industrial uses (Souleacute, Estes, Berger Martinez 2003, pp 12381250). Disadvantages of the policy include changes of ownership of lands that are under natural resources. Adopting conservation policy will ensure natural resources areas that are under conservation or restricted areas has enforced ownership as the government assumed ownership of those areas. Secondly, being a national level policy, there is several resources that are used in the implementation of the policy. Various instruments are needed to implement the policy and this considers many different resources (Hristov Ramkissoon 2016, Vol.61). The plan or policy can provide the direction that is needed for reducing the loss of natural resources. Firstly, the policy sets the ground for various conservation strategies that were not in place. Though there are various areas that are under conservation and this includes Freycinet National Parks and are used protect plants and animals. The policy sets the ground for more areas that are yet to be identified since CSIRO gives details of different challenges that still remain without restriction. In addition, the policy gives the direction that is needed mobilize resources that are used in the conservation of these areas (Shone, Simmons Dalziel 2016). Proposed process The planning process is a complex stage of the policy development that takes into considerations many this in place. The policy planning process takes three different stages and these are development, implementation, and evaluation process. Firstly, the plan begins with the development of framework putting in place are the necessary resources and instruments. At the development of the plan, various policy aspects are put in place (Airey Chong 2010, pp295-314). Secondly, implementation of the policy considers instruments that are needed such as financial resources, human resource, and laws. For instance, at the implementation stage, laws will be enforced in restricted areas and conservation campaigns will also be launched. Thirdly, the evaluation requires all players and stakeholders to give the necessary feedback on the success or challenges that are encountered in implementing the policy (Schmitz, Post, Burns Johnston 2003, PP 11991205). The policy will be done in three phases that can follow each other in a consecutive manner and these are research, analysis, and consultations. Firstly, the project team conducts research to identify areas that need conservation and the urgency that need to consider while implementing the development plan. Secondly, after analysis of the areas that need to be conserved, data are analyzed with the aim of identification of gaps, resources needed and all the instruments that are needed to implement the policy. Consultation stage considers all the experts and all the stakeholders that will play role in implementation of the policy. This also gives the necessary measures that will be taken into consideration while implementing the plan (Oksanen Oksanen 2000, pp 240261). There are many different stakeholders that will be consulted when implementing the policy. Some of these stakeholders are experts, government offices and the community in general. Firstly, conservation experts and various scientists will give enough information on the applicability of the plan. The strategic expert also will assist in evaluating the feasibility of the plan and the financial implications of implementing the project (Sanderson et al, 2007, pp. 810-813). Secondly, the government officers and offices that are from tourism, conservation, and treasury will be consulted on the implementation and financial resources required. Finally, the community will be involved in the implementation of the plan are part of the policy since some lands that are used by the community will be under restriction to ensure there is more land under protection as compared to the current conserved areas. Moreover, when launching sustainability conservation of the resource, the community will be th e immediate environment to implement the project (Laliberte Ripple 2004, pp 123138). The implementation of the policy takes three different phases and these are an advertisement of areas, launching of policy campaigns, enforcement of policy and evaluating the policy. The government officially advertises restricted areas that will be covered under the new conservation policy and this is meant to make citizens that are living in these areas to move away from these areas. After giving residents of the restricted areas time to evacuate the areas there is actual launch of the conservation campaigns to ensure that community is involved in conservation as part of the strategy. The law enforcement, therefore, commences protecting the areas so as to protect the area against any destruction. Finally, the evaluation process takes into accounts those visitors that come to these places and the size of the area under conservation also will be evaluated (Hristov Ramkissoon 2016, Vol.61). The policy will be reviewed based on the financial resource used, areas under conservation and challenges faced in implementation. Financial resources audit will assist the policy team to review a number of resources used in the policy. The financial records that are used in the implementation of the policy give direct data on the success or failure of the plan. The area under conservation is another way to review the policy as the policy has to meet the maximum set target for implementers. Another way to review the policy includes evaluating the challenges that affected the implantation and this will include hostility encountered while enforcing the policy in restricted areas. Lastly, the number of visitors that come to the area to view the conserved plants and animals is another way to review the whole system (Dela Saporsantos 2016). The success of the policy is determined by the output realized from the project and input resources used in the policy development and implantation (Edgell 2008). The positive feedback from both conserved area and tourism industry are some of the ways to determine the success of the policy. In addition, the number of visitors coming to the areas and the amount of land that is under restriction gives the success of the policy. Finally, the comparison between the resources used in development and implementation of the policy including maintaining the area compared alongside the amount of money received from visitors determines the success of the policy (Souleacute, Estes, Berger Martinez 2003, pp 12381250). Conclusion In conclusion, Tourism Australia gives six megatrends that are related tourism in Australia and globally. These megatrends affect the tourism at the national level that needs policy development to address this megatrend. Going, going ... gone? Is a major trend that is concerned with continuous depletion of natural plants and animals. There is the need for policy or plan that will increase the number of areas under conservation to protect most natural plants and animals. As per statistics there is need to increase natural resources within Tasmania East Coast under conservation since these are a tourist attraction. 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