Harmful Algae :: Geology

Dynamic The reason for this research project is to give data about the various types of algal sprouts and their impact on our condition and ourselves. There are still a great deal of things that are not thought about the algal sprout marvel, and a wide range of speculations have been introduced to clarify these. Over the span of this paper those theories will be introduced and talked about, permitting the peruser to determine their own supposition about the root of algal sprouts and what will occur later on. chapter by chapter list Chapter by chapter list I. Destructive Algae II. What are Algal Blooms and Red Tides? III. For what reason do Algal Blooms happen? IV. What are the impacts of Algal Blooms? V. Where and how frequently do Algal Blooms happen? VI. Assets I. Hurtful Algae Every algal specie are not destructive. Just a couple out of the a large number of animal types are related with the marvel known as an algal sprout. These green growth fall into two classifications. The main classification of destructive green growth produces poisons that are discharged when ingested by creatures or people. The dinoflagellate Alexandrium tamarense (left) and the diatom Pseudo-nitzschia australis (right) are instances of poison creating alga. The other class of hurtful green growth execute without poisons. These are furnished with structures, for example, spines and serrated edges that permit them to hold up in fish gill tissues. At the point when this happens it causes aggravation which prompts overproduction of bodily fluid which in the end prompts demise. This Chaetoceros species (above) is a case of a green growth that murders by utilizing specific serrated structures. back to chapter by chapter list II. What Are Algal Blooms and Red Tides? Algal sprouts are when green growth develops at a quick rate and aggregate close to the surface, thus the expression algal blossom. The expression Red Tide is a misnomer since it has nothing to do with the tides. It alludes to a particular kind of algal sprout that happens when certain types of phytoplankton that contain red shades blossom making the water look red. Red Tides are typically not destructive. The California Noctiluca Bloom is a case of a Red Tide back to list of chapters III. For what reason Do algal sprouts Occur? Researchers aren't actually certain about how or why algal sprouts begin. One hypothesis is that when temperature, saltiness, and supplements arrive at specific levels there is a huge increment in the measure of green growth.

Molecular Changes in Oral Cancer Progression and Their Underlying Essay

Atomic Changes in Oral Cancer Progression and Their Underlying Mechanisms - Essay Example Liquor has been seen as an essential hazard factor in oral SCC.5 Other variables incorporate tobacco utilization, hereditary inclination, viral disease, and dental replacement related factors.2, 6, 7 The procedure of oral carcinogenesis is a multifactorial and multistep process happening when epithelial cells are presented to hereditary alterations.8 Complex sub-atomic changes related with oncogenes, tumor silencer qualities (TSG), and different components underlie the turn of events and movement of oral malignancy. An investigation of these sub-atomic instruments is indispensable so as to all the more likely analyze and identify oral malignant growth related adjustments that are regularly undetectable under a microscope.8 The current paper diagrams a portion of the sub-atomic changes that are accepted to add to oral disease movement. The components hidden a portion of these atomic changes are likewise examined. II. Movement of Oral Cancer The neurotic movement of disease happens whe n typical cells are changed to pre-harmful cells and afterward to threatening cells through the amassing of mutations.9 The movement of oral malignancy from dysplasia to the phase of metastasis is related with multistage pathologic changes brought about by sub-atomic alterations.10 The pathologic phenotypes engaged with malignant growth movement remember increment for cell multiplication, level spread and endurance, which are related with sub-atomic changes, for example, adjusted articulation of particles, for example, p53 that manage cell cycle, modified development factor reaction, changed protein digestion and amalgamation, and cell everlasting status related with telomerase.10 The movement of oral malignant growth may likewise be credited to other sub-atomic changes that lead to the overproduction of development factors, increment in the quantity of cell surface receptors, modifications in transcriptional factors and sign delivery people, etc.8 III. Atomic Changes Contributing t o the Progression of Oral Cancer As effectively expressed, the movement of oral disease happens because of multistep hereditary modifications coming about because of sub-atomic changes. The typical working of the oncogenes and TSGs is modified because of which there is an expansion in the creation of development factors, translation factors, intracellular sign emissaries and additionally number of cell surface receptors.11 These modifications lead to phenotypic changes in the cell, which encourage cell multiplication and stifle cell union, in this manner empowering the invasion of harmful cells.11 McGregor et al. have indicated that the underlying phases of oral malignancy movement from the dysplasia stage are related with loss of the outflow of (RAR)- ? retinoic corrosive receptor, loss of articulation of p16 cell cycle inhibitor, changes in p53, and an expansion in the degrees of telomerase turn around transcriptase mRNA.12 There is an expansion in the declaration of the epidermal development factor receptor after the dysplasia sta

How to Identify and Cope With Emotional Abuse

How to Identify and Cope With Emotional Abuse Relationships Violence and Abuse Print How to Identify and Cope With Emotional Abuse By Sherri Gordon facebook twitter Sherri Gordon is a published author and a bullying prevention expert. Learn about our editorial policy Sherri Gordon Reviewed by Reviewed by Amy Morin, LCSW on July 01, 2019 facebook twitter instagram Amy Morin, LCSW, is a psychotherapist, author of the bestselling book 13 Things Mentally Strong People Dont Do, and a highly sought-after speaker. Learn about our Wellness Board Amy Morin, LCSW Updated on January 21, 2020 Verywell / Brianna Gilmartin More in Relationships Violence and Abuse Spouses & Partners LGBTQ Feeling insulted and wounded.  Never measuring up. Walking on eggshells.  If these statements describe your relationship, it is likely you are being emotionally abused. In general, a relationship is emotionally abusive when there is a consistent pattern of abusive words and bullying behaviors that wear down a persons self-esteem and undermine their  mental health.?? Whats more, mental or emotional abuse, while most common in dating and married relationships, can occur in any relationship including among friends, family members, and coworkers. Emotional abuse is one of the hardest forms of abuse to recognize. It can be subtle and insidious or overt and manipulative. Either way, it chips away at the victims self-esteem and they begin to doubt their perceptions and reality. The underlying goal in emotional abuse is to control the victim by discrediting, isolating, and silencing. In the end, the victim feels trapped. They are often too wounded to endure the relationship any longer, but also too afraid to leave. So the cycle just repeats itself until something is done. Impact of Emotional Abuse When emotional abuse is severe and ongoing, a victim may lose their entire sense of self, sometimes without a single mark or bruise. Instead, the wounds are invisible to others, hidden in the self-doubt, worthlessness and self-loathing the victim feels. In fact, research indicates that the consequences of emotional abuse are just as severe as those from physical abuse.?? Over time, the accusations, verbal abuse, name-calling,  criticisms, and gaslighting erode a victims sense of self so much that they can no longer see themselves realistically. Consequently, the victim begins to agree with the abuser and becomes internally critical.  Once this happens, most victims become trapped in the abusive relationship believing that they will never be good enough for anyone else. Emotional abuse can even impact friendships because emotionally abused people often worry about how people truly see them and if they truly like them.  Eventually, victims  will pull back from friendships and isolate themselves, convinced that no one likes them. Whats more, emotional abuse can cause a number of health problems including everything from depression and anxiety to stomach ulcers, heart palpitations, eating disorders, and insomnia. How to Spot the Signs of Emotional Abuse When examining your own relationship, remember that emotional abuse is often subtle. As a result, it can be very  hard to detect. If you are having trouble discerning whether or not your relationship is abusive, stop and think about how  the interactions with your partner, friend or family member make you feel. If you feel wounded, frustrated, confused, misunderstood, depressed, anxious or worthless any time you interact, chances are high that your relationship is emotionally abusive. Here are  signs that you may be in an emotionally abusive relationship. Keep in mind, even if your partner only does a handful of these things, you are still in an emotionally abusive relationship. Do not fall into the trap of telling yourself its not that bad and minimizing their  behavior. Remember, everyone deserves to be treated with kindness and respect. Emotionally abusive people display unrealistic expectations. Some examples include: Making unreasonable demands of youExpecting you to put everything aside and meet their needsDemanding you spend all of your time togetherBeing dissatisfied no matter how hard you try or how much you giveCriticizing you for not completing tasks according to their standardsExpecting you to share their opinions (you are not permitted to have a different opinion)Demanding that you name exact dates and times when discussing  things that upset you (when you cannot do this,  they dismisses the event as if it never happened) ?Emotionally abusive people invalidate you. Some examples include: Undermining, dismissing, or distorting your perceptions or your realityRefusing to accept your feelings by trying to define how you should feelRequiring you to explain and explain and explain how you feelAccusing you of being too sensitive, too emotional, or crazyRefusing to acknowledge or accept your opinions or ideas as validDismissing your requests, wants, and needs as ridiculous or unmeritedSuggesting  that your perceptions are wrong or that you cannot be trusted by saying things like youre blowing this out of proportion or you exaggerateAccusing you of being selfish, needy or materialistic if you express your wants or needs (the expectation is that you should not have any wants or  needs) ?Emotionally abusive people create chaos. Some examples include: Starting arguments for the sake of arguingMaking confusing and contradictory statements (sometimes called crazy-making)Having drastic mood changes or sudden emotional outburstsNitpicking at your clothes, your hair, your work, and moreBehaving so erratically and unpredictably that you feel like you are walking on eggshells ?Emotionally abusive people use emotional blackmail. Some examples include: Manipulating and controlling you by making you feel guiltyHumiliating you in public or in privateUsing your fears, values, compassion or other hot buttons to control you or the situationExaggerating your flaws or pointing them out in order to deflect attention or to avoid taking responsibility for their  poor choices or mistakesDenying that an event took place or lying about itPunishing you by withholding affection Emotionally abusive people act superior and entitled. Some examples include: Treating you like you are inferiorBlaming you for their  mistakes and shortcomingsDoubting everything you say and attempting to prove you wrongMaking jokes at your expenseTelling you that your opinions, ideas, values, and thoughts are stupid, illogical or do not make senseTalking down to you or being condescendingUsing sarcasm when interacting with youActing like they are  always right, knows what is best and is smarter ?Emotionally abusive people attempt to isolate and control you. Some examples include: Controlling who you see or spend time with including time with friends and family??Monitoring your phone calls, text messages, social media, and emailAccusing you of cheating  and being jealous of outside relationships??Taking or hiding your car keysDemanding to know where you are at all times or using GPS to track your every move??Treating you like a possession or propertyCriticizing or making fun of  your friends, family, and coworkersUsing jealousy and envy as a sign of love and to keep you from being with othersCoercing you into spending all of your time togetherControlling the finances?? If you suspect your partner, family member or friend may be emotionally abusing you,  contact a counselor, an advocate or a pastor for assistance. You also can call the National Domestic Violence Hotline 1-800-799-SAFE(7233) or visit their website thehotline.org and chat online with someone right away. 7 Ways to Deal With Emotional Abuse The first step in dealing with an emotionally abusive relationship is to recognize that it is happening. If you were able to identify any aspect of emotional abuse in your relationship, it is important to acknowledge that first and foremost. By being honest about what you are experiencing, you can begin to take control of your life again. Here are seven more strategies for reclaiming your life that you can put into practice today. Make your mental and physical health a priority. Stop worrying about pleasing the person abusing you. Take care of your needs. Do something that will help you think positive and affirm who you are. Also, be sure to get an appropriate amount of rest and eat healthy meals. These simple self-care steps can go a long way in helping you deal with the day-to-day stresses of emotional abuse.?? Establish boundaries with the abuser.  Firmly tell the abusive person that they may no longer yell at you, call you names, insult you, be rude to you, and so on. Then, tell them  what will happen if they choose to engage in this behavior. For instance, tell them  that if they call you names or insult you, the conversation will be over and you will leave the room. The key is to follow through on your boundaries. Do not communicate boundaries that you have no intention of keeping. Stop blaming yourself. If you have been in an emotionally abusive relationship for any amount of time, you may believe that there is something severely wrong with you. Why else would someone who says they love you act like this, right? But you are not the problem. Abuse is a choice. So stop blaming yourself for something you have no control over. Realize that you cannot fix the abusive person. Despite your best efforts, you will never be able to change an emotionally abusive person by doing something different or by being different. An abusive person makes a choice to behave abusively. Remind yourself that you cannot control their  actions and that you are not to blame for their choices. The only thing you can fix or control is your response. Do not engage with an abusive person. In other words, if an abuser tries to start an argument with you, begins insulting you, demands things from you or rages with jealousy, do not try to make explanations, soothe their  feelings or make apologies for things you did not do. Simply walk away from the situation if you can. Engaging with an abuser only sets you up for more abuse and heartache. No matter how hard you try, you will not be able to make things right in their eyes. Build a support network. Stop being silent about the abuse you are experiencing. Talk to a trusted friend, family member or even a counselor about what you are experiencing. Take time away from the abusive person as much as possible and spend time with people who love and support you.?? This network of  healthy friends and confidantes will help you feel less lonely and isolated. They also can speak truth into your life and help you put things into perspective. Work on an exit plan. If your partner, friend, or family member has no intention of changing or working on their poor choices, you will not be able to remain in the abusive relationship forever. It will eventually take a toll on you both mentally and physically. Depending on your situation, you may need to take steps to end the relationship. Each situation is different; so discuss your thoughts and ideas with a trusted friend, family member or counselor.??

Analysis of Bluebird Essay - 693 Words

Analysis of Bluebird English A. Bluebird is a poem written by the modern poet Charles Bukowski and published in 1992 in Bukowski’s collection of poems titled â€Å"The Last Night of the Earth Poems†. The poem is about the vulnerability, innermost torment and the suppression of an emotional and fragile personality symbolized through the image of a Bluebird hidden inside the speakers mind. The composition of the poem is very loose with only two stanzas and a lot of verse lines, some of which only consists of one word. The verse lines with only one word suggest that the reader also has to interpret the way the poem is read; not only the message and theme. Bluebird also has an unusual graphical look that confine, just like Bukowski’s†¦show more content†¦He saw the inside of most American bars, was abused as a child and had a face that was scared by pocks. Against all odds Bukowski became a renowned, but provocative, poet. The stigma created by his history and habits, is a stigma that saw Bukowski as a whoring and numb figure, but in the symbolic value of a bluebird Bukowski tries to tell us that he has a caring personality hidden deep inside him. Bukowski feared the reaction from the public if he let the inner bluebird out, but the inner bluebird also tormented Bukowski himself. It’s not only the society’s stigma that made Bukowski keep the bluebird in, but also the very self-destructive view Bukowski had on himself. A self-destructive view, backed up by his self-destructive drinking and treatment of his own body. â€Å" theres a bluebird in my heart that/wants to get out/but Im too tough for him,/ say, stay in there, Im not going/to let anybody see you.† He tries to suppress the bluebird’s existence through means of denying it, using escapist techniques such as drinking, smoking and participation in prostitution to deter his mind from the presence. â€Å"there’s a bluebird in my heart that/wants to get out/but I pour whiskey on him and inhale/cigarette smoke/and the whores and the bartenders/and the grocery clerks/never know that/he’s/in there† Only in moments of total solitude, in his bed, he lets his little bluebird out ofShow MoreRelatedJaguar or Bluebird Case Study1076 Words   |  5 PagesJaguar or Bluebird Case Study International Human Resource Management Jaguar or Bluebird Case Study Mark Chan had spent the past six years working overseas and as a bachelor he had enjoyed the opportunity to travel and was very comfortable living and working overseas. 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Philosophy of Technology Integration Essay - 773 Words

Being able to incorporate technology into the daily lesson plans offers the teacher an endless possibility of communicating the subject through multiple modalities. Technology within the classroom can be seen through proximas, ELMO’s, DVD’s and websites that are incorporated to teach the students. Educators should be open to learning and incorporating the many opportunities technology brings to the classroom. Although technology has areas of strength and weaknesses, if learned and implemented creatively and efficiently students learning will be impacted greatly. Today’s students immerse themselves’ daily in multiple sources of technology. They are visually stimulated by the sites and networking readily available to them. When they†¦show more content†¦Students take pride in their final products and stand tall when having to present their knowledge to the class. Although the strengths are many at times the weaknesses of technology outweigh and cause educators to steer away from the implementation of such within their classrooms. Many teachers are faced with technology management problems. The lack of appropriate rules implemented at the beginning will create an atmosphere of frustration for the teacher. As the members of Education World’s Teach Team mentions, the classroom rules will be different and students need to know that each situation brings a new set of rules (Starr, 2000). Being able to specifically state what is expected of them at the beginning and having the rules clearly stated will impede students from being off-task. Letting students know what is expected of them every time they are using the computers will reduce the excuses and will embed the routines until they automatically know what to do. Another major weakness one encounters when using technology is knowing the level of the students prior knowledge. 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Valuation of Bmw Free Essays

Valuation BMW Group | BUSM31 – Strategic Financial Management| 2010-10-27| Group 14| | | Tutor: Authors: Mans KjellssonDaniel Hedevag Jonas Karlsson Mathias Ljungberg Jakob Tuvehjelm Background BMW is one of the ten largest automobile manufacturers in the world, with an annual production of 1. 3 million cars (2009). It is furthermore one of the leading manufacturers in the premium car segment. We will write a custom essay sample on Valuation of Bmw or any similar topic only for you Order Now BMW Group brand portfolio includes in addition to the BMW brand itself the Mini and Rolls Royce motorcars. The Mini brand is a remain from 1994 when BMW bought Rover and Rolls Royce was acquired in 1998 after a few years of engine cooperation.Besides the production of automobiles BMW is a well respected producer of motorcycles, with a production of 87. 000 units in 2009. Business units sectioning In our opinion BMW is a company which operates within two different business units; manufacturing and financial services. These units differ from each other and affect the value drivers differently. To get a fair valuation for BMW we have therefore chosen to make three different valuations, the third one being eliminations which represents the intra group transactions between the two business units.Regarding motorcycles, we have chosen to include them in the business unit we call manufacturing. For BMW, the sales of motorcycles contributed to 2,1% of annual turnover in 2009 which in itself does not constitute a large proportion of the annual turnover. It is our opinion that there are synergies in demand as well as revenues and costs that justifies including the valuation of the motorcycle part within the sales of cars and that it therefore is no need for a separate valuation of the motorcycles. Diagram 1 Sales of cars and motorcycles, Source: BMW Annual Report 2002-2009 Historical performanceWe have chosen to compare key figures for BMW, Diagram 2: BMW cars sales in different markets. Source: BMW Annual Report 2003-2009 Daimler, Volkswagen and Toyota collected from Morningstar. In our opinion, the most comparable competitor is Daimler, which includes the brands Mercedes, Smart and Maybach. Daimler produced 1,055 million cars in 2009 and has the majority of its factories in Germany, just like BMW. Further, Mercedes is one of the main competitors of BMW with a strong brand i n the premium car segment while smart is a competitor to Mini. The following chart describes the sales development for BMW within the last seven years.Worth noticing is how the sales peaked in 2007 with 1,5 million cars sold and how it has declined in overall numbers since then mostly due to declines in sales in Europe and America. The only market where sales have increased since the financial crisis is Asia and especially China and India. BMW can be divided into subgroups that represent different segments within the car industry. There are primarily two different series that represents the largest part of the automobile manufacturers sales. The BMW 3 series is the worldwide leader within its segment of middle class cars and competes with cars like Audi A4 and Mercedes C class.This is the cash cow for BMW and generates almost 40% of the total Revenues. The larger 5 series competes with cars like Audi A6 and Mercedes E-class. Comparing the Revenue Growth, Toyota and BMW excels, although Toyota have a major decline in revenue growth in 2009, whereas BMW and Volkswagen at least manages to decline sales by less than 10 percent. The fact that BMW with the highest percentage of premium cars sold has the lowest decline in annual turnover shows strength towards its competitors. Revenue Growth (total)| 2004| 2005| 2006| 2007| 2008| 2009| BMW| 6,77%| 5,24%| 5,02%| 14,32%| -5,04%| -4,73%|Daimler| 4,11%| 6,15%| 0,96%| -34,56%| -3,06%| -17,99%| Volkswagen| 0,62%| 7,09%| 10,08%| 3,84%| 4,51%| -7,58%| Toyota| 11,32%| 8,54%| 14,36%| 13,36%| 9,04%| -21,40%| When assessing the different key numbers for the operating margin (OM) BMW remained high and steady at around 8% until 2008. Worth noticing is how Toyota outperforms most competitors until 2009 when they instead showed the poorest operating margin. For all compared companies, 2009 is the worst year and only VW and BMW are able to generate a positive OM. Operating Margin| 2004| 2005| 2006| 2007| 2008| 2009| BMW| 8,4%| 8,1%| 8,3%| 7,5%| 1,7%| 0,6%|Daimler| 2,7%| 1,5%| 1,4%| 7,9%| 5,4%| -1,9%| Volkswagen| 1,8%| 2,9%| 1,9%| 5,6%| 5,6%| 1,8%| Toyota| 9,6%| 9,0%| 8,9%| 9,3%| 8,6%| -2,2%| When comparing the Inventory Turnover, Toyota is outstanding in its performance just as known to be. BMW had the second highest inventory turnover in 2009, which has improved continuously throughout the measured time (worst in 2004). For Daimler and Volkswagen the trend is instead negative. Inventory Turnover| 2004| 2005| 2006| 2007| 2008| 2009| BMW| 5,60| 5,54| 5,65| 6,20| 6,06| 6,55| Daimler| 7,22| 6,86| 8,80| 4,73| 7,82| 4,41| Volkswagen| 6,80| 6,86| 7,26| 7,00| 6,07| 5,74|Toyota| 13,14| 12,51| 11,62| 11,21| 11,82| 11,28| The cash-conversion cycle within the industry is extremely volatile. Toyota, known for its excellent logistics, has been able to outperform most competitors. For BMW the figure is bleak although Daimler is in serious trouble with 117 days in its conversion cycle. Cash-conversion-cycle| 2004| 2005| 2006| 2007| 2008| 2009| BMW| 47,20| 46,46| 45,63| 44,60| 52,18| 47,82| Daimler| 28,28| 30,14| 30,51| 82,19| 132,12| 117,78| Volkswagen| 40,44| 39,02| 35,45| 36,09| 34,36| 44,22| Toyota| 16,87| 16,45| 50,54| 49,04| 21,54| 28,18|A part of the cash-conversion cycle is th e receivables turnover, which indicates that BMW is performing well when it comes to collecting debt and efficiently using its assets. Once again Daimler shows worrying figures. Recievables Turnover| 2004| 2005| 2006| 2007| 2008| 2009| BMW| 21,50| 23,31| 22,31| 22,73| 21,38| 24,35| Daimler| 21,80| 20,66| 20,25| 6,62| 4,06| 5,30| Volkswagen| 16,39| 17,33| 19,36| 20,28| 19,52| 18,04| Toyota| 11,49| 11,85| 5,94| 6,37| 12,89| 12,01| In conclusion BMW stands strong when benchmarking towards their main competitors.The high ROIC reveals that BMW historically has utilized its Invested Capital successfully, hence been able to create shareholder value since the WACC in the meantime has remained low. ROIC| 2004| 2005| 2006| 2007| 2008| 2009| BMW| 13,20%| 12,98%| 15,89%| 15,30%| 1,54%| 1,02%| Daimler| 2,24%| 2,51%| 2,80%| 3,97%| 1,36%| -3,36%| Volkswagen| 0,79%| 1,31%| 3,21%| 4,69%| 7,22%| 0,87%| Toyota| 7,71%| 7,07%| 7,15%| 7,31%| 7,13%| -1,88%| Porters five forces In order to assess the competition and profitability within the industry we have chosen to use the five forces model developed by Michael Porter.Our five forces analysis primarily set sights on the forces a ffecting the car industry and will not be further divided between different segments of BMW Group. The bargaining power of suppliers As car manufacturers has become more and more global through mergers and acquisitions the trend for suppliers has followed, where a few actors have become more dominant by acquiring smaller suppliers. When manufacturers grow, the bargaining power of supplier’s decreases and a small supplier might be solely dependent on BMW.In several cases these suppliers have established local assembly units near the car manufacturer’s production facilities in order to deliver just-in-sequence to the manufacturer’s assembly line which makes them more dependent. The merged suppliers stand stronger, but BMW is still in a good position to push prices. BMW takes advantage of their role as a global company and can adapt to best buys of components. In order to cut costs car manufacturers tend to outsource more. With several suppliers BMW has established a close partnership in order to co-operate in development and production of components e. . outsourcing. The bargaining power of buyers differs dependent upon the definition of the buyer. It is our opinion that the customers of BMW are not the retailers but the end users. While the retailers and BMW are equally dependent upon each other, they are both reliant on the choice from the end user. While low-cost carmakers worry about getting played off against each other (price wars etc), premium manufacturers worry that the value added by their design and the perception of their brand in relation to other luxury car manufacturers is inferior.Hence, the bargaining power for the buyer increases when the perception of BMWs cars gets worse in relations to others. Financial crises, switching costs and availability of substitutes can also affect the customer’s choice. Companies, such as taxi companies, buying larger volumes have a greater bargaining power in terms of price. For BMW, it is crucial to keep the incentives for the buyer to buy their car, hence not differ in price too much. Despite the fact that BMW are dependent upon their buyers, it is important to remain equivalent in the treatment and not to back down in negotiations in order to avoid dilution of their brand.Price sensitivity The threat of substitute products is quite limited, at least if we consider the BMW as a car to use for transports from A to B. Within a foreseeable future the car will still be one of our most used ways of transportation. Prohibition of cars, congestions charges and improved public transports are together indications that the horrible traffic situations in many cities are increasing the buyer’s inclination towards substitutes. High speed trains and air traffic is also increasing and can be seen as an alternative to longer distance travels by cars.However, when considering buying new BMW, one does not choose between the BMW and public transportation, but instead between a BMW and a car from one of their automobile competitors. In a broad view ICT could substitute for a car. In some way ICT substitute has in some way decreased the demand for travelling, videoconferencing has in some cases made travelling unnecessary. ICT and videoconferencing substitutes for a physical meeting, which sometimes requires travels by car. There will still be needs for physical meetings, and quite often they require travels by car.Even if a meeting can be held online the participants will most likely still have a car. The threat of substitutes to BMW as a premium car would probably not come from ICT or public transportation, but from other car manufactures which could possibly enters the premium car segment. Volkswagen launched its Phaeton to directly compete with BMWs 7-series and Mercedes S-class. http://www. quickmba. com/strategy/porter. shtml Threat of new entrants. The capital costs required to get established in the car manufacturing industry is exceptionally high; hence the possibility for new entrants to the car manufacturing industry must be considered low.Economies of scale also weaken the preconditions of new entrants in comparison to their established competitors. A threat of existing car manufacturers entering the premium segment or new geographical areas is instead considered higher (primarily Chinese manufacturers). Since luxury brands are able to charge a premium due to reputation, quality and design built over time, the conditions deteriorate further for new entrants. When Volkswagen launched VW Phaeton in 2002 they tried to compete with BMWs 7-series and Mercedes-Benz S Class. However the status of the Volkswagen brand had difficulties to compete with the two classic status brands.Customer loyalty, distribution channels and governmental and legal barriers are other difficulties needed to be handled for new entrants. Rivalry Between Established Competitors (Industry Rivalry) As a result of Mamp;A in the 90? s most competing brands are part of larger automotive groups. Audi is for instance a part of Volkswagen, Mercedes of Chrysler and Lexus is the premium brand from Toyota. The huge globalized nature of the industry creates a distinctive rivalry that takes place at both group and company level. Worth to notice is that BMW is only the 13th largest automobile manufacturer in terms of number of cars produced. In a survey made by Millward Brown, BMW overtook the first place as the world’s most valuable automotive brand from Toyota in 2010. As a premium brand with a history of quality and design, BMW has an important advantage over many competitors. At the same time, BMW has a lot to defend while other brands that also symbolize good quality are eager to catch up. Living on past achievements is not possible in the long run and in order to keep the positive trend it is necessary for the company to continuously improve in order to meet customer requirements.In 2009, a total of 51 million cars were sold, out of which BMW sold 1,26 million (2,47%) which makes BMW the 13th largest producer of cars that year. The largest car manufacturers are Toyota, GM and Volkswagen, which together accounted for almost exactly 1/3 of total cars sold worldwide in 2009. Diagram 3: Cars sold in 2009, divided by manufacturer. Source: OICA correspondents survey 2009 The financial crisis has made the automobile manufacturers more reserved when it comes to mergers and acquisitions (which was the clear trend in the 90? s). The trend has instead moved towards cooperation’s between the rivals in order to cut costs.BMW has signed a contract to assist SAAB with smaller motors, rumors have circulated about cooperation’s with archrival Mercedes when it comes to Ramp;D and Manufacturing and there is an ongoing partnership with Fiat concerning parts for Mini and Alfa Romeo. In order to capture the possibilities within the emerging market in China, BMW and their Chinese partner Brilliance China Automotive have launched a joint venture to support sales of BMWs using financial services. Although some car manufacturers have closed down due to the crisis, the market is still heavily saturated.There is a constant threat of over capacity and customer requirements are increasing. Requirements on environmental friendliness are also greater than ever and come with increased costs. Production of cars has become more globalized as a result of demands of cost-efficiency, which has increased continuously over the recent years. For BMW, the struggle for survival is in our opinion no longer about cutting down production costs, but instead of quickly introducing cars with the newest technology while preserving and strengthening its key brands by maintaining high quality and unique design.Competitors are of course aiming to do the same. A belief in increased investments is supported by historical data that estimates periods of roughly 25-30 years with a rising investment ratio after a financial crisis. To understand the industry one must look how its structure is changing. For more than hundred years cars have be running on petrol. Now, a technological race is taking place between car manufacturers in order to get the best technique for their future electrical cars. As usual when the technique is new, the development costs are high. A Chevrolet Volt sells for $40. 000 but costs $75. 000 to produce.To some this might seem like bad business, but in reality this is a much-needed expense to prepare for the business of tomorrow. For BMW, the ongoing research has resulted in cars like MiniE, an electric car that currently is tested out on the streets by many users. Another major investment is the Megacity Vehicle, which is a larger electrical car not launched yet and promoted under its own brand but with obvious similarities to BMW. For the industry as a whole, there is a risk of customers holding on car purchases until a â€Å"price war† will start or until the technology is more favorable (most importantly an increase in battery lifetime).As a premium car manufacturer, BMW might be able to avoid a price war, but customers can also choose to ignore the brand and luxury for the benefit of new technology. Price differences may decline due to cooperation’s and unwillingness by customers to pay more than the high price of electrical cars from less prestigious brands. This may mean that the option between low cost and product differentiation may be eliminated. SWOT Strengths The fact that BMW is one of the world’s most respected premium car brands constitute strength in itself.BMW holds a strong, non-overlapping, brand portfolio which stretches from the small youthful Mini to the super premium Rolls Royce. BMW communicates German engineering excellence, luxury and driving pleasure (their slogan is: The Ultimate Driving Machine), they do it well and are therefore a highly respected car manufacturer. BMW are renowned for their excellent self developed engines, especially the six cylinders. Later years they have advanced in their development of smaller fuel efficient four cylinder engines, which are used primarily in their smaller 1 and 3 series cars.A majority of the BMW engines are produced in their Austrian Steyer plant. The motors are sold to a variety of buyers beyond BMW and recently BMW signed a contract for delivering four cylinder engines to the next generation of SAAB 9-3. Through BMWs innovative and forward-looking technical development they should possess the ability to develop competitive future green automobiles. BMW has as the overall leader of the Dow Jones Sustainability Index positioned themselves with sustainability as an integrated part of the company.BMW have further more an in-house financing division which they can use to hedge for prices of raw materials and currency hedges. Being a worldwide company with production in many countries they also possess the possibility to benefit from natural hedges. Weaknesses Although BMW is a large auto manufacturer, the economies of scale available to producers of a larger numerous of less expensive cars is not available to BMW. Being mainly based in Germany, production and development is costly and shifting production to lower cost countries carries a risk of deteriorating the BMW brand.With only two main markets (America and Europe), BMW is exposed to a higher risk than more geographically diversified competitors. With a high indebtedness, BMW is also exposed to risks concerning higher interest rates which are expected in the future. Opportunities As one of the world’s leading premium car manufacturers, BMW has the opportunity to embrace emerging markets. When the demographics change and growth potential is good BMW should be able to take a descent share of the market. As an example, the growing middleclass in India (accounting for almost 300 million people) are experiencing an increase in purchasing power and embraces more and more western buying habits. With growing middleclass (currently 80 million people) in China, this market is also lucrative. China is the world’s largest market for automobiles and BMW with its strong brand has positioned itself with strategic alliances in order to gain market shares from this opportunity. During recent years demand for financial services has increased and will likely continue to do so.BMW offers extensive financial services and an increase in demand provides a possibility to expand their Financial Services to further diversify, while supporting production. BMWs best opportunities lie within the exploitation of emerging markets, stronger green profiling and offering financial services. Threats The price of raw materials is quite volatile and could be a substantial threat to the profitability of BMW. Another major risk is currency fluctuations, however as a global actor BMW have the ability to benefit from financial hedging as well as natural hedging.Higher requirements on emissions could form at threat to BMWs larger models with higher consumptions; however with new technology BMW should be able to handle this. The recent economic recession affected BMWs primary markets, US and Europe the most, and a return would most definitely constitute a serious threat to BMWs revenue. Heavily dependent upon their good reputation, BMW constantly have to deal with risks of bad publicity and rumors which could deteriorate the brand status. Forecasting amp; Keys Forecasting Q3 amp; Q4 2010 Our forecast of revenue growth in 2010 is based on the reported first quarters and analyst’s forecasts.We believe that BMW will return to the sales levels previous to the crisis during the coming two years (in 2007 1,5 million cars were sold) because the future prospect of the world economy is looking brighter, which the automobile industry is highly correlated with. BMW delivered 700  000 vehicles during H1 and several analysts believe that sales would rise about 10 percent compared to 2009, which means an increase to 1,4 million cars. Even though that delivered cars rose with 13,1 % in H1 2010, compared to the same period last year, we chose to use an increase of 12 percent during the whole year of 2010.BMW would then return to revenue figures and sales figures of 2008, â‚ ¬ 50 203 million respective 1,436 million, which is â‚ ¬ 50  186 million respective 1,440 million in 2010. Analysts expect that BMW’s EBIT margin will exceed 5 percent in the segment of automobiles 2010. However, since we assume that COGS will return to a level of 2005-2007 of 75 % of revenue, depreciation will be stable at 20 % of revenue. SGamp;A will return at 9,5 % of revenue (an average of 2005-2009), Ramp;D expenses will increase to 4,0 % of revenue (increase from 3,0 % due to higher investments in electric cars), and the EBIT margin will be 7,5 %.In order to estimate fiscal year 2010, we tried to find seasonality between the different quarters; however we did not find any pattern. Thus, we used data from Q1 and Q2 and made a prediction over the whole year. The balance sheet for 2010 is based on H1’s balance sheet including the retained earnings from 2009. The balance sheet has the advantage that it mirrors the present book value of the firm. Revenue assumption Revenue growth between 2010 and 2012 is based on the assumption that BMW will return and surpass revenue levels before the economic crises in 2008.Over 30 analysts following the BMW stock back this assumption. They estimate average revenue (billion) 2010: â‚ ¬56  510, 2011: â‚ ¬ 64  541 and 2012: â‚ ¬64  412. We believe it is possible that the world economy in 2013, 5 years after the financial crises, will enter a new Kitchin cycle. The Swedish minister of finance, Anders Borg, believes that a crisis could occur in 2013, otherwise the business cycle lives on overtime. This assumption will decline revenue with 5% 2013 and keep the economy steady in 2014. At the same time as the revenues decline, we believe that the COGS increase, which was the case during 2008-2009.Thereafter, in 2015, an increase of 7% and two years of relatively stable growth of 5%, somewhat better than G7 GDP growth and automobile industry. Auto manufacturers five years average return is 22,7%, this is an annual return of 4,5 %. We believe that BMW will outperform this average 2016-2017 and perform 4% in the steady state; this is very close to the history growth average of BMW during 1998-2009 of 3,95%. Recievables Turnover| E2010| E2011| E2012| E2013| E2014| E2015| World GDP| 4,77%| 0,42%| 4,54%| 4,59%| 4,62%| 4,62%| Advanced economies GDP| 2,71%| 2,17%| 2,64%| 2,59%| 2,51%| 2,41%| Major adv. conomies (G7) GDP| 2,51%| 2,04%| 2,54%| 2,44%| 2,33%| 2,20%| BMW revenue| Historical growth average 1998-2009: 3,95%| – Assumptions Keys / valuedrivers kapitalstruktur Cost of capi tal 1. Assumptions amp; Calculations Leases We have assumed that the leasing brought up on BMW’s balance sheet is the leasing when BMW acts as the lessor. We have therefore chosen to capitalize BMW’s leasing, when acting as a lessee (found in notes). The asset life is set to 15 years as the leases includes items such as machinery and buildings, and therefore should have a longer asset life than Lim, Mann and Mihov’s recommendation of 11 years.When later forecasting, leasing is forecasted as a percentage of revenue. Research amp; Development Research amp; Development, depreciation and amortization were included in COGS and we therefore chose to separate these in order to fairly valuate them. (SKRIVA OM VARFOR INTE capitalisera Ramp;D? ) Cost of Capital Since BMW is divided into three different business units with unequal capital structure and various betas we have chosen to calculate three different WACC’s. The Betas are calculated through five year monthly stock returns versus MSCI World index. These Betas are then unlevered by dividing them by each company’s D/E ratio. equity=? unlevered1+DebtEquity Then we calculated an average unlevered industry Beta which then was weighted to each company’s D/E ratio to obtain an industry adjusted company Beta. ?unlevered=? equity1+DebtEquity The risk free rate is the same for all three units and is determined by using a 10-year German Eurobond which offers high liquidity and low credit risk in the same period as our forecast. Estimating the market risk premium, the difference between the markets expected return and risk free rate, is difficult to assess since the expected return on the market is unobservable.We have chosen a market risk premium of 5% for all units based on historical data. CAPM| Group| Manufactoring| Financial Services| Eliminations| Risk-free rate| 2,25%| 2,25%| 2,25%| 2,25%| Beta| 1,386| 0,693| 1,470| 1,405| Market risk premium| 5%| 5%| 5%| 5%| Cost of equity| 9,18%| 5,71%| 9,60%| 9,28%| Furthermore, w e have used a tax rate of 30,2 % during the entire analysis since the overall corporate tax rate are 30,2 % in Germany. Since the tax rate for companies outside of Germany vary from 12,5% to 46,9% this number is a fairly good average which also complies with the tax rate during previous stable years. Further on the cost of capital was set by a BMW corporate bond which is due in 2018. The target capital structure for manufacturing was based on the capital structure for the entire company. According to Appendix X BMW Group has a structure of 68% debt, but since this includes financial services with a significant higher percentage debt, we have chosen to use a target capital structure of 65% for manufacturing. Since the capital structure of Financial Services has been relatively constant we have based the debt-equity ratio on the mean value.Considering eliminations, we have assumed that they have the same capital structure as the company as a whole. WACC| Group| Manufacturing| Financial Services| Eliminations| D/(D+E)| 32%| 35%| 23%| 32%| E/(D+E)| 68%| 65%| 77%| 68%| Tax| 30,2%| 30,2%| 30,2%| 30,2%| Rd| 5%| 5%| 5%| 5%| Re| 9,18%| 5,71%| 9,60%| 9,28%| WACC| 5,48%| 4,27%| 4,91%| 5,34%| Pitch Emerging markets: A few of the world’s largest countries by population are Brazil (191 million), China (1,335 billion), India (1,199 billion) and Indonesia (232 million).Estimations predict a radical growth in GDP per capita for these countries in the coming years, as shown in the chart below. We believe that the market for premium cars in those countries will increase with the growth in GDP. Recently, Volkswagen group announced that their revenue in India increased with 132% on the first 3 quarters of 2010 compared to the year before. The upper class in India accounts for about 1% of the population, and the new middle class constitutes about 20%. A reasonable assumption that 5% of the population in the above stated countries can afford a BMW, equals a potential market of 150 million potential buyers.In accordance with our predicted revenue growth, we have chosen to illustrate the origin of our growing sales. According to our predictions, Asia will become the major market for BMW within a few years. Further investments in these emerging markets, in order to generate a better position, will create higher sales volumes and profits. With new factories in India and China (one more is planned) and cooperation’s with retailers and joint-ventures, BMW has built a foundation upon which they can grow.As our competitive analysis has highlighted, electrical and hybrid cars will replace cars with internal combustion engines. Although estimations differ widely, a probable scenario is that electrical cars will be the leading technology within a 20-year period. China is expected to become the largest market for electrical cars and the government is subsidizing the development of new technology both in China and the U. S. A. China is expected to be the largest market for electric vehicles, with predictions suggesting more than 888,000 will be sold in the nation over the next five years. Sensitivity analysis Since the manufacturing unit represents more than 88 percent of BMW’s total revenue our sensitivity analysis is conducted on changes in that specific unit. Furthermore our analysis is performed mainly on the variables COGS, revenue and the WACC since these are the variables that are most important for the company’s stock price and thus the equity value. The two dimensional tables below show how increases in these variables affect the stock price. From the tables it can be seen that WACC and COGS has the most influence on the stock price. How to cite Valuation of Bmw, Papers

Sales Orientation Training Essay Example

Sales Orientation Training Essay The main aim of any organization is to maximize the shareholders wealth or the return on their investment. Since human asset is the most important asset in any organization, more emphasis has to be directed to their competence and their ability to do their duties effectively and efficiency. Salesclerks are part of this human asset who ensures that organizational products and services are marketed and sold to a wide range of customers thus leading to an increase in profit levels. As a training supervisor of a large, local retail company for example Coca Cola Company there is need to enhance the marketing skills of the salesclerks. (Whitfield, 2000)Because globalization has become the modern form of business, I will design orientation/training program that is unique as compared to training programs provided by my company’s competitors. For example, I will incorporate the aspects of experience, accountability, complete customization, the salesclerks should learn new principles of marketing, and equip them with long-term retention skills of retaining and maintaining customers among others. In order to maximize the return on investment, as a training sales supervisor I will ensure that the program should incorporate balancing real sales objectives and quantifiable objectives with the growth of the entire new sales team. In order to achieve good results from the training program it is very crucial to incorporate the following steps when designing an efficient and effective training programs; identification and definition of the company’s main goals, coming up with needs of training/induction programs, outlining the training objectives, coming up with viable training techniques, deciding on the potential trainees, deciding the best trainers, implementing the training process, and then determine the methods of evaluating the training process. If such a process is adopted then there is a high chance of achieving the training goals that is the trainees will get skills and knowledge required to perform their duties.Topics To Be Covered:The first thing that I will do is to determine the training priorities of the three-day orientation program that will ensure a truly all-inclusive orientation training program to be covered. The topics covered should be up to date issues that the sales force has to know when dealing with contemporary business undertakings. The topics designed should meet the training goals by clearly outlining the expected behavior or skills to be attained by the salesclerk after training program. Since the seven departments of the company are interrelated in one way or another there is greater need to introduce the new salesclerks to these departments and inform them on what they are expected from them. The topics covered should include the following: (Paul, 1995)The first subject to be covered will be that of communication skills. It is very crucial for any salesclerk to know how to conduct himself and interact with th e company’s customers. The new salesclerks will be subjected to learn on the importance of communication skills and how it impacts their productivity. Communication skills will include both the aspects of listening and at the same time conveying messages to the customers. Most companies fail because of the poor communication skills exhibited by their employees and here trainees will be expected to know how to address the customers using good language and always giving the customer time to answer questions and seek clarifications for any misunderstandings if any. The salesclerks will be taught on how to communicate to the customer both using the phone and when the customer is physically present. Such conducts like arrogance and confrontation should be avoided by the salesclerks in order to attract and retain customers thus this will lead to effective management of the organization and thus increase in productivity level.The other topic to be covered will be that of leadership skills, whereby the salesclerks will be expected to gain knowledge that will improve their leadership skills. Every salesclerk is viewed a leader in that each and every activity that he/she does affect the organization in one way or another. More emphasis will be directed to democratic approach of leadership whereby the salesclerks especially those who are supervisors should make the decision process to be more inclusive and thus it will lead to motivation of employers. A good leader always lead by example and the salesclerk should exhibit such skills when dealing with company’s customers and his/her colleagues. (Whitfield, 2000)Since there is use of computerized cash systems, the other topic of interest to be covered will be that of equipping the salesclerks with necessary computer skills to enhance their work performance and especially when dealing with finance issues. Many companies have adopted the concept of recording transactions using computers and therefore knowledge of MS word, Ms Excel, and programming such as UNIX-PLUS should be provided to the salesclerks. With such computer knowledge records will be easily traced when required and cash transactions can be done faster as compared to manually using book keeping systems. Also due to globalization, there has been development of new technologies such as E-marketing whereby salesclerks can do their marketing responsibilities through the internet. The basic skills of internet applications systems will be very important because salesclerks can explore new markets without necessarily going to those places physically.The other topic to be covered will be that of product skills. This implies that the salesclerk have to be equipped with knowledge of the features of the company’s product that it is being subjected to the markets. Since the salesclerks will be new in the company more emphasis will be directed to the salient features of the product that differentiate company’s product from t hose of its competitors. This will boost marketing skills of the salesclerks because they will be in a better position to inform the customers of how the products offered by the company are unique and they are worth buying by the potential customers. Such skills also will give the salesclerks the confidence to market the company’s products without hesitating about the quality of the product. (Bresnahan, 2002)The other topic to be covered will be that of public relations. Although the concept of public relations is more connected to that of communication, the former mainly deals with attracting and retaining the company’s customers. A good salesclerk is one who is able to convince customers to accept the company’s product and hence building the company’s reputation. The salesclerks will be taught on various ways on how to attract and retain the company’s customers as well as how to build the reputation of the company among the consumers. It is evide nt that consumers will always prefer honest and trustworthy salesclerks who will faithfully accomplish their business dealings with them without disappointing them. The salesclerks will be taught on how to handle various business conflicts such as misunderstanding between salesclerks and the customers without loosing them. In this subject of public relation the salesclerks will be taught that customers are the most important people for the company and that they should serve them diligently without prejudice. For example the salesclerks of Coca Cola Company will be expected to market the company’s product as well as trying to build the name of the company. They will do these through offering the customers with best services like delivery of the products on time and the products should meet customer specification.Techniques Used In Training:Generally there are two techniques that can be employed in training program: On-the-job training which will involve provision of training t o salesclerks while they carry out their undersigned duties. This method has the advantage of saving time because training or induction is done at the same time when employees are working. The other technique is called off-the-job whereby the salesclerks will be taught at a specific location and at the time when they are not carrying out their duties. As the training supervisor, I will prefer the technique of off-the job training since the employees will be new in the company. I will particularly employ the following techniques: (Paul, 1995)The first technique is through lecture whereby presentation of knowledge will be done verbally to the salesclerks. This method is the best because the salesclerks will be many and they will be know time to concentrate on one individual at a time. It is said to be the most cost effective technique of conveying information to many people. The other technique that I will use during training is that of role playing and simulation whereby I will prese nt the salesclerks with potential problems and alternative solutions and give them time to discuss. For example I will use this method in raising the issue of public relation. Because of this aspect of training the salesclerks will gain experience from the discussion and thus they can handle problems with ease when they will embark on their work.The use of programmed learning techniques will be appropriate especially when the salesclerks will be trained on computer applications. The use of computers in demonstrating the real situations expected from them and this will give them an opportunity to be competent and be ready to apply what they have learned to their real work environment when their time comes. They will have an opportunity to ask questions and thus gain enough experience. (Bresnahan, 2002)Methods Of Evaluating Success Of Program:The success of the training program will largely depend on how the salesclerks employ the acquired knowledge in carrying out their duties. Howev er, before the salesclerks will be dispatched to their various workplaces testing the competence of the salesclerks will be important. This can be done through administering them with tests after the training for example asking those questions which are related ton what was learned during the program. This will provide an opportunity to know if they have gained from the program.The best method however to evaluate them is through monitoring them when they will be carrying out their duties. This will involve monitoring and evaluating of their work performance by comparing what they were taught and their actual performance. This will provide the entire management with the opportunity of understanding and knowing the competence of the salesclerks.Conclusion:Evaluation should be done continuously during the training program and any inconsistency can be solved or incorporated in the training program. According to latest survey, reports suggest that training leads to many benefits to a com pany and it should always be done regularly in any organization. Such benefits associated with training include increase in productivity or output, there is reduction of labor turn-over, there are high levels of efficiency and effective operations, and there is less need for supervising the entire workforce. There is also evidence that the entire employees of any company always build up superior sense of self-esteem, dignity, and happiness as a result from training and therefore they always feel precious to both the company and to the general public. Training also leads to greater satisfaction by employees thus attainment of goals because they are motivated and willing to work because they are competent enough to carry out their responsibilities. (Whitfield, 2000)