Effect of Standard Costing Changes on Firm Operations

Effect of Standard Costing Changes on Firm Operations The Rise and Fall of Standard Costing and Its Effect on Everyday Operations For European and American Firms Contents (Jump to) EXECUTIVE SUMMARY GENERAL OVERVIEW ACCOUNTING OVERVIEW LITERATURE REVIEW EXECUTIVE SUMMARY The overall purpose of this paper and study is to investigate cost or lean accounting within the operations management realm and how its unpredictable rise and fall allow organisations to continuously learn and utilize knowledge management as a core value. It was also important to use a larger organisation that has history of outstanding operations and customer centered focus upon services. This investigation will require an in-depth study of work processes, communication and leadership with regard to knowledge management as a value within the team construct while looking at how this reflects leaning accounting principles. What tools are available and what kind of evolution is Nestle undergoing in order to remain competitive in a changing economy? How does this change knowledge management and communication company wide? What this study argues is that accounting practices are changing due to the evolving business plan. This is a movement toward modern accounting and it is important to see the relationships between costing accounting, its fluctuations and how they impact the health of the organisation as a whole with regard to productivity and job satisfaction. How an organisation applies methods of costing into its framework for accounting of expenses and its direct rise and fall over the time period of the product life cycle, directly influences the production, operation, distribution and employee retention of the global company. In fact changes in accounting practices have led to many tried and true business models to no longer exist. Costing and its rise and fall can have a direct relationship with success and competitive advantage in the market place. However the purpose of this study is to explore and reflect upon how accounting practices change operations management and the supply chain management model as a tool of managers and team members alike. Really it is how accounting practices have changed business practices because of new legislation focusing on global companies in Europe and the United States. Accounting costs, expenses and losses reflects the health of the organisation and with change comes confusion. This study argues th at with such changes comes a lack of defining the company’s value within the market but also the value it has for its employees, as they become active participants and investors. GENERAL OVERVIEW How corporate accounting is handled is changing worldwide. How each expense is accounted for within an organisation’s financial sheets has been evolving. Such a proposal for change has received much commentary from not only the financial community and corporate America but also key members of Congress, European union leaders and the public. Such a response results from the uncertainty that such change will benefit businesses and economic growth. It is feared that such change will have the opposite effect and cause world leaders to lose its competitive edge in the global market. The urgency for a solution has only been stressed recently in light of such debacles like Enron and Tyco. It is believed that companies do need to account honestly for expenses but at what price to its employees, the public and the economy? Part of the issue with current legislation to change the practice of accounting for employee stock options is that there is no real way to value their worth. This cr eates an unsettling feeling among investors and employees struggling to understand this benefit. ACCOUNTING OVERVIEW What this truly means for any corporation functioning globally or even locally this that effective cost accounting because a volatile issue for management to consider. One could argue that such rise and fall of how costing pays a part in the entire operation has a negative effect upon how the company’s valuation is seen on the open market if done incorrectly. Costing at every step of the product life cycle plays a huge part in how this valuation is decided from inventory at the shop floor level, to everyday operations management, to an employee’s value with the company and their net worth personally. Changes within the global economy in the recent years the disappearance of tried and true business models leaves many with a poor taste in their mouths because one must understand how efficiency, affordability and effective leadership come into play. Effective costing of routine operations and corporate behaviours must be tracked and studied in order to carve the fat. This study aims to look at exactly what the rise and fall of costing means to a global organisation conducting business on many levels. For the purpose of proving the argument that such an evolution of accounting practices has a powerful influence on the organisation, one will look at examples from the shop floor to the continuous management of knowledge and communication. Accounting for such expensing and pricing correctly is what makes the organisation strong but also its people. The benefits of standard costing gives rise to more modern accounting practices today, which then lead to leaner functionality throughout the organisation. It can be argued that by putting a framework of standard costing as accounting practice also leads to a better defined operations team but also leads to a lean supply chain as further innovation is introduced into the organisation. With this in mind, evolved traditional business models like Wal-Mart and Nestle are discussed because these are globally operat ing corporations with high success rates. LITERATURE REVIEW PRICING STRATEGIES It can be difficult to assess why a product has a certain cost or price to the consumer. How is it that companies arrive at certain amount for a product or service? What are the factors that play into this amount and do they change over time while in the market? Mish defines clearly, price as being â€Å"the value or worth; the quality of one thing that is exchanged or demanded in barter or sale for another† (2004, p. 985). A mistake that happens to many companies is they allow the market to manage the price of the product and avoid strategic management of pricing in general. What is usually done according to Nagle is â€Å"they list the prices based on their own needs and then adjust transaction prices to based on what customers say they are willing to pay. Only a few companies question why someone is willing to pay no more that a particular amount or how that willingness could be changed† (2002, p. 1). In order to be strategic in pricing, a company must confident and understand that â€Å"pricing involves managing customers’ expectations to induce them to pay for the value they receive† (Nagle 2002, p.1). Fortunately, when it comes to financial products, many customers remain in the dark about product and services. Sometimes a service oriented company such as the Bank of England can take advantage of such undulation but as more information becomes available due to the Internet, it is becoming increasingly more difficult for a company to set the pace this way. More than not, more companies especially financial ones that rely on customer relationships, allow for a value-based price structure that is contingent on the customer paying when value is delivered. This type of pricing system relies heavily on segmentation of the demographic when it comes to offering promotions and incentives to buster customer loyalty. Much of this applies to financial type products that are well defined for the consumer either through education or these pr oducts are a must in life like the credit or loan product. Keeping this in mind, many financial products consist of high quality products and add-ons that when offered by one company allows that company to diversify and establish the price. The table here below aids in illustrating this point. Table 1: Pricing Strategies (Anderson Bailey 1998, p. 2) It is also important for a company to keep in mind demand for the product or service. This is why diversification and globalization are quickly becoming elements of strategy as companies look for new ways to target consumers and enter new areas where their original product has a new life cycle. This is a matter of economics but important for understanding marketing strategy with regards to cost switching or price switching. â€Å"The greater the price elasticity, the closer the company can price products to similar competitive products and vice versa† (Allen 2002). In an industry like the mortgage industry where homeownership is more prevalent in Western nations, elasticity is high and therefore, it is fair to remain competitive with other companies. Also a company like Nestle can bet that charging less may lead to more food products created as customers find they get more service for less money. In this respect elasticity can work either way. It really depends on degree of ri sk one company is willing to take. Still it remains to be found if such a tactic even works when it comes to customer loyalty, as this will be explored in greater detail later. However, it remains to be seen if price loyalty does exist. It seems â€Å"the key to effectively competing for loyalty is ensuring the quality of the customer experience, not the quantity of customer rewards or discount prices† (Compton 2005, p.1). However, the price needs to be adjusted for what the customer expects. It can be a cycle that changing continuously depending on the product or service. STANDARD COSTING AS ACCOUNTING PRACTICE There is concern with standard costing accounting methods and when the practice is an effective method, what advantages and or disadvantages there are to the practice’s use over time within the operations realm and production of a product. What is the history of standard costing, how it came into practice and popularity with managerial accountants? Are there situations where other methods are more beneficial? This plays into mainly focus upon direct material costs and not necessarily labour because of the set hourly wage. Was this the reason for adopting leaner accounting methods with the advent of more expensive operating costs? The fall of standard costing accounting systems may be due to a need for an integrated chain of activities across multiple product life cycles especially when a company diversifies at a global level. It should be notes here that standard costing is a only one method but can be used by management to estimate manufacturing costs of direct materials, direct labour and manufacturing overhead both fixed and variable across the chain of production. The fall of standard costing probably has taken place due to a need for a multifaceted supply chain or layered supply chain. Generally speaking there will be overlapping in the supply chains of a global company and therefore a system to meet this need. This system will appear seamless but also where everything is integrated and communication is at the speed of light and technology is a mandatory tool so that the organisation may remain at a competitive advantage. So how does standard costing accounting practice exactly differ from the other methods available? Obviously accounting practices have evolved to become leaner and applicable to a range of various business practices for a global company like Nestle. So how is standard costing still evident since it is no longer the popular choice? HISTORY Historically speaking the advent specifically for standard cost accounting systems began in the early 19th century United States with the management of the railroads (Hoskin Macve 2000, p. 18). Hoskin and Macve (2000) comment on standard costing always being a feature of the accounting practice from the beginning of business records. However, standard costing did not take an active role until modern business with this quote: Accounting has always embraced cost and management accounting in the sense of analysis of activity and the use of accounting information for choosing, planning and controlling activity. These purposes remained embryonic until choice between significant economic alternatives became available. (p. 19). Companies in the United Kingdom remained family based and therefore lacking formal, concrete accounting methods when compared with businesses found in the United States at the time. Any changes in accounting generally speaking remained with direct relations to changes in the business world. Part of the evolution and the rise of standard costing are directly related to business practices of this time period. There was a need for measurement of productivity in a framework understood by management members. They wanted to calculate human performance on the shop room floor. This sets into place the post-modern ideology for Total Quality Management or TQM, to be discussed later. With these adjustments also came radical changes for an organisational structure, the management’s strategy as this continued across the chain when further technology was introduced as useful tools (Hoskin Macve 2000, p. 21). With adaptations sees as innovative, it was only a matter of time before British companies adopted similar practices toward accounting. This can be evident as the organisation’s market presence gains global relationships and rely upon interaction and exchange of knowledge. At the end of the 19th century United Kingdom companies were learning standard cost accountin g principles and processes as a means of incorporating links into a wider organisational framework. While there was a need for streamlining, there was also a need for flexibility as standard costing started to lose its usefulness. Morelli and Wiberg (2002) concur with other experts that standard costing emerged in the early 1900s. To mirror the Total Quality Management system in place at factories, â€Å"Engineers developed information about standards in order to establish ‘the best way’ to use labour and material resources with manufacturing† (Morelli Wiberg 2002, p. 18). This furthered how processes were put into place to achieve an organisation’s objectives. In order to better understand how history influences practices within the business with regard to product production and the rise and fall of standard costing as an accounting practice, one must first understand different steps with in the standard costing system that defines the practice. All processes or production steps along the supply chain have identifiable, calculable costs as raw materials result in the manufactured marketed product for consumer purchase. Each area of focus to make the product, the costs involved can be absorbed by the final product sale and then profit. This includes materials, labour, outsourcing and fixed or variable burdens. These absorbable costs reflect the true cost of goods as referred to on the general ledger. Variable costs are environmental factors, which fluctuate from day to day. Variables come into play for production measurements as one figures out the true cost of goods when compared with the actual costs incurred for that particular production run. Variable exist when determining quality of materials and labour. However labour becomes a ‘grey’ area of contention when discussing standard costing. Indirect labour encompasses costs work-related but not task related. These become well defined further up the chain of co mmand and less so at the shop floor level. So what exactly is standard costing and why are trends in its use so important to understand? While much of standard costing explains business evolution, organisational practices and diffusion of technology, making labour much different than the post-modernist view; standard costing still applies to business today as many eliminate fat from operations and look into clear streamlines for production purposes. This is mainly due to expenses being on the rise but also a need for reinvestment back into the company for technology needs when at a global level. In many ways, modern lean accounting allows for standard costing to be a framework from which other accounting practices emerge. Standard costing systems are good for production of items in volume but with very little diversification and stable costs. The benefit of this method is that organisations can trace specific cost flows from purchasing to inventory. What distinguishes standard costing as an accounting practice but mostly a framework used today in business, what allows the method to remain a turning point in evolution to other methods like Activity Based Cost or ABC accounting and lean accounting, is by definition in its name. There is the standard by which the accounting practice is defined. By allocating a standard, the organisation already has a set of expectations and even core values of what the costs for production will be. Standards set the pace and atmosphere of production. They remain elemental to preconceived notions of the quantity and cost of inputs needed for production of one simple unit of output. With this backbone, one can develop a proper cost-volume-profit analysis. Still in order for a standard to work effectively it must be well defined and accepted by the organisation. This is where continuous improvement, communication and values for Knowledge Management or KM become important tools for managers. The accoun tant in charge of setting standards must have a comprehension of the full organisational picture and its health. Along the line of command for accounting, standards become commonplace and procedures; or a methodical means of carrying out tasks. For instance, every accountant actively monitors the standards by which the standards apply to him or her. There is only a small window of time for payroll for a week. Without these standards in place, tasks become less defined and unachievable. In this respect and according to M. L. Houlton (1979): â€Å"There are basically two types of standard: (a) Ideal Standards which assume not wastage or inefficiency and (b) Expected Standards which allow for normal and expected losses† (p. 2). By creating such a system leads organisations to ways of measuring performance and other difficult erroneous concepts in need of a qualifier. Still a manager must also understand how standards create a regimented place to work, which may not work for ever y employee on the team. Organisations like Nestle and Wal-Mart may see the advantage of utilizing a standard costing system because â€Å"actual costing has the ability to revalue inventory based on actual costs, which are most accurate† (Peoplesoft 2000, p. 12). Any changes are reflective immediately but also this leads to an organisation the chance to use other accounting methods as well like ABC. This could be especially important to inventory management. Remaining within the standard costing scheme affords the organisation a specialised function with respect to the types of activities. As activities become more detailed so does the accounting. For instance: Technology or electronics industries benefit most from this type of costing because component variations affect total actual costs. Industries that deal with commodities, for example, dairy products or precious metals, and are characterised by widely fluctuating costs, might use an actual costing system to provide the most current values. (Peoplesoft 2000, p. 12). As organisations have grown into multiple national corporations or MNCs with multiple activities on different supply chains, maybe this is why standard costing has become less important to accountants because it called for too much detail where they too must remain efficient to keep their positions. A new leaner way needed to match the business practices because as much as standard costing applies to every product or service on the chain it also allots for more manpower and time. There had to be a way to allow for multiple operations and one accounting system that could branch off to meet multiple activities. OTHER ACCOUNTING METHODS Carmona, and et al (2004), writes of the origin of activity based costing method of accounting or ABC that came into vogue in Europe during the 1920s. What ABC does specifically as Carmona, and et al (2004) speak of Vollmers’s work as: Deployed significant efforts to account for distribution and marketing costs, which ‘tend to be ignored today.’ This first event is then taken as record of the origin (both in terms of time and space), from which the new practice mainly spread both temporally and spatially. (p. 36) This is the start of a movement toward the double entry system and this saw delay and many weaknesses because it did not present a clear, complete picture of accounting. Its weaknesses were found in inefficiencies with charges and discharges. As a result, early double-entry systems were seen as unreliable and not useful to big business. It would not be until later that advanced book keeping procedures would take into account advanced operating processes in production. Carmona, and et al (2004) found these systems although not perfected were used in England and the Colonies as early as 1760 (p. 37). It seems this was the trend as no real streamlined, conforming system would be adopted until modern business practices came into place in the United States. Move to a global arena and model of production purposes and a more refined system is needed because a lot more is at stake. Global business is all about the details. It became common practice more investment applied, the more generally accepted accounting practices became as a diffusion of new technology. Accounting practices became more generally accepted behaviours as businesses became bigger and more prominent in communities across the world. Practices are implemented as Abu-Raddaha, and et al (2000) surmises the following: The information provided by accounting should facilitate international trade and capital flows, not hamper them. It should inform, not just report. More importantly the information demands of both domestic and international financing and other commercial relationships, have to be satisfied. (p. 19). Everything must remain in balance or presented as a well-oiled machine. How does an organisation get to this point of transformation with its accounting practices? Modern accounting asks for more participation and optimisation from the start to finish by the corporate accountant. The actions of the corporate accountants must change as the movement toward lean functioning continues to take place. It should not be a painful process but one of creativity, flexibility and growth. There is a concern that lean accounting requires one to turn off creativity and be boxed into one function or thought process. This will be explored late as a post-modern viewpoint of business where each person has a function within the total quality management or TQM perspective. Modern business may use this as a framework but the modern business model has evolved beyond this fixed view. The truth of the matter is that modern accounting practices could not be further from this view of being boxed in but rather goes beyond breaking the box and creating a different mindset where thin king is seen differently than before. Accounting is seen differently as not having finite possibilities but infinite reasoning. Traditional methods are flawed as proposed by Van Der Merwe and Thomson (2007), â€Å"the direct costing approach doesn’t absorb any overhead or even fixed costs†¦resource consumption accounting or RCA makes no arbitrary assignments at all† (p. 29). A lean, effective method allows for a more detailed account of capacity costs and a basic approach to data collection. Modern times call modern values and thought processes with regard to business seamless behaviour across the production floor. The lean method maintains a â€Å"one-touch flow system† (Van Der Merwe Thomson 2007, p. 29) for information diffusion across the life cycle. This one-touch flow system can be integrated with a supply chain easily and reflects this value added element as a method for better, honest accounting. OPERATIONS MANAGEMENT A most important factor for facilities management to recognize is the use of Total Quality Management (TQM) or a variation of TQM. TQM according to David Steingard is â€Å"a set of techniques and procedures used to reduce or eliminate variation from the production process or service delivery system in order to improve efficiency† (Steingard 2002, p. 2). TQM fits with the facilities management way of doing things as many of their functions require repetition or constant monitoring of daily, weekly and monthly items. Because this is a modernist concept and the modernist movement believed in certainty and static methods of looking at the world, there is not much room for the uncertainty that change creates in today’s workplace using strictly TQM. Therefore either change in this environment must be controlled change or a variation of TQM must be used for the process to work and involve new technologies. Otherwise, TQM alone invents a work environment reminiscent of Franz L ang’s Metropolis and dehumanizes the employee. A variation TQM can be used in facilities management to aid defining team member responsibilities as it sees the whole team as a â€Å"machine creates a system of interlocking parts each with clearly defined use, centralized authority and high degrees of worker discipline culminating with the goal of routinised, efficient and predictable system performance† (Steingard 2002, p. 2). Each team member plays a role in the functioning of the machine. Still much like today’s business environment where change is constant, this system requires continued adjustment, modification improvement of function. TQM as way of defining a work process cannot operate entirely in today’s global market because it succeeds at the expense of innovation and the growth of the employee. It also does not leave room to incorporate change and new ways of improving functions. Still a memory of pure TQM feeds the â€Å"modernist machine of c onsumer capitalism which encourages over-consumption, planned obsolescence, ecological damage and depletion of natural resources† (Steingard 2002, p. 4). This memory has also burdened management as the obsession for perfection, control, consistency, productivity and efficiency increases over time. In today’s facilities team, there must be a healthy medium to not only use past methods for increased productivity and efficiency but also to include modern tools and equipment to make the job easier. In order to remain competitive, technology cannot be ignored, the systems it provides must be implemented in order for logistics to remain seamless and keep up with demand and customer expectation. For instance failure to embrace logistics and technology results in inventory costing a company more money to store than it is worth. McCullogh writes, â€Å"Right now sitting around the globe is a bunch of inventory (worth an estimated) United States $1 trillion—United States $1 trillion of boxes of stuff is just sitting around a warehouse† (‘Warning: Don’t Snub Logistics’, p. 1). This has the potential to represent about 60 percent of the average company’s working capital. This is capital in limbo that is not maximizing its investment potential. A sign of successful shop floor operations is reliance on very little warehousing. In other words, warehousing is measured as the amount of days per month a product sits in the warehouse and if logistics is implemented effectively, this number will decrease and stabilize. The retail average storage of inventory is 26 days of investment not being utilized, profit being lost and daily expenses being incurred in an endless holding pattern. In order to reduce the amount of days inventory sits means companies must create tighter relationships with suppliers via the web or perfect a system of communication between resources to cut out warehousing all together. Instead of inventory remaining stored because of wireless communication and data collection, the product can go straight from the supply source to the retailer’s shelves via a distribution centre that acts much like mail sorting centre. This can work because technology enables a retailer to send data immediately to the supplie r of products that are moving off the shelves with a click of a button. From this electronic message, the supplier knows what the retailer needs, what products are popular, how much and sends then instantly to the retailer’s distribution centre. In organisations the size of Nestle or Wal-Mart, logistics strategy requires much forethought and planning, as there are many branches and divisions that are involved in the process. The idea is to reduce expenses and increase value to the organisation by making the company more productive and efficient. This needs to be done as seamlessly as possible to continue brand loyalty and customer relations while maintaining market share and competitive advantage. In many ways, implementation of this strategy creates a delicate balance. In order to have better Business to Business or B2B relationships, one must understand the connection. Robert Thierauf and Hoctor (2003) explain, â€Å"B2B is about connecting shared businesses and information processes of the extended trading networks, planning, shipping and logistics, inventory management and customer retention to name a few† (Thierauf Hoctor, p. 181). In other words, an optimized planning process can save millions dollars and allow a multination corporation to carry out its objective and gain market share. This means applying advanced technology such as i2 used by Dell Computers and typical ERP vendors. In today’s act of doing business, B2B exchanges are based on supply chain management or SCM technologies (Thierauf Hoctor, 2003, p. 182). This will mean considerable investment in such technology but the benefit of market share will prove it to be a valued investment over the long-run (Burn Hachney 2002; Scerbo 1999). Running these centres effectively certainly poses a challenge of management. Manufacturers must develop new skills and confront channel conflicts with dealers, distributors and independent operators. Leaders in these positions must have an understanding of managing the conflicts in these channels. But well-managed distribution centres would more than justify the risks, as it would save the organisation a significant amount of overhead. With operating expenses as the main cost, it is possible to make the distribution venture essentially self-funding. Facilities can be rented on short-term leases and surrendered if the location isnt successful within a year or two. The cost of goods and labour can be managed as volume grows. Companies should remember that a manufacturers original warranty work usually accounts for about half of the labour expenses and for as much as 20 percent of the total value of services rendered, but these costs are typically charged back to the business unit rather than borne by the company’s distribution. In markets poorly served by local dealers or other distributors, for instance, a centre should gear itself to its company’s end users or consumers b

Daystar` by Rita Dove Essay

In the poem â€Å"Daystar† Rita Dove uses different stylistics devices and language means to create a message of the poem and appeal to readers emotions. Using stylistic devices the poetess hides themes and motives giving only a slight hint to readers about the symbolic meaning of the objects and words. Rita Dove uses language means to convey the unique message and shape the atmosphere of the poem.   Thesis Dove persuades the readers to think over eternal truths and virtues of a common woman, her daily tasks and routine work typical for every mother and wife. Rita Dove depicts events and life struggle through women’s eyes. The readers feel that it is not a voice of the author, but a voice of the woman who really bears enormous burden of housekeeping. Dove communicates with the readers through the character of a woman. Persona in the poetry is a prototype of a particular person within a class, culture, background, etc. Rita Dove refers to the woman as â€Å"she† underlining unimportance of her social status and background. And as the most important, this stylistic device helps the author to shaped physical reality and psychological state of the woman: â€Å"she was nothing, pure nothing† (Dove). Rita Dove uses connotation and denotation to create tension in the poem. For instance, the phrase â€Å"the little room for thinking† has both connotative and denotative meaning. The desire to escape from the reality creates the feeling of fatality, and for this reason the woman tries to find the place â€Å"that was hers for an hours†. Also, â€Å"the little room for thinking† can be interpreted as both personal freedom and evolution of emotional perception of the world. The title â€Å"daystar† has a double meaning: direct and indirect. On the one hand, it means â€Å"sun† and â€Å"light†, but on the other hand it symbolizes the role of a wife and a mother in the family. The title reflects the main idea of the poem connected with experience of a mother. This title suggests neither positive nor negative experience, but informs readers about importance of her daily duties for the entire family. The readers derive the meaning of this symbol from the context and events depicted by the author: â€Å"the children’s snap†, â€Å"diapers steaming on the line† (Dove). Imagery is another language device used by the author to shape the poem. Rita Dove uses fresh and vivid words to intensify, clarify and enrich meaning of the poem, for instance â€Å"a floating maple leaf†, â€Å"lugged a chair†, etc. It is possible to say that the images thus present an idea in terms of physical sensation. On the other hand, imagery shapes the poem creating feelings of dissatisfaction and cynical indifference. A successful image helps to make the readers feel the writer’s grasp of the object and situation she is dealing with, gives her grasp of it with precision, vividness, force, economy; and to make such an impact on the readers, its content, the stuff of which it is made. For instance, the image of â€Å"building a palace† means dreams of the women and her life hopes. Ambiguity helps the author to concentrate on a hidden meaning of the poem and disengage from traditional interpretation of the mother’s role. Ambiguity helps to look at social values through unique perception of the world typical for mothers. Strength of the work is its deep philosophical meaning depicted through the theme of gaily life of the mother exhausted by her duties. â€Å"Other days she stared until she / was assured when she closed / her eyes she’d only see her own / vivid blood† (Dove). The woman is caught in her social role and cannot go beyond this predetermined status. The symbolic interpretation of the events, comparison and contrast between the meaning of dark and light helps the writer to hold a reader’s attention. The differences are slight, and need special attention of the reader to grasp the idea. The difference in the mood has a particular metaphoric meaning, which adds pathos to the whole poem: â€Å"She would open her eyes / and think of the place that was hers / for an hour, ‘ in the middle of the day† (Dove). The other problem is that the woman tries to escape from her daily tasks in new settings as the only possible way to overcome enormous emotional pressure. â€Å"She had an hour, at best, ‘before Liza appeared pouting from the top of the stairs† (Dove). This is a free verse poem which bears resemble with a short story. Almost every rhyming word has significance in that it is associated with one or another of the main thought-feelings of the poem: daily tasks and role of the mother, despair and tiredness. The diction of the words is one of the essential elements used by Rita Dove to suggest the inevitability of daily tasks and routine work for the woman. Two stressed words put together imitate emotions and feelings of the mother, for instance â€Å"And just what was mother doing / out back with the field mice? / Why, building a palace† (Dove). Rhetorical questions help to shape and give a clarity and edge to the content, to the thought and feelings. Deep human emotions embroil reality and imaginary world of the nameless woman, but Dove leaves it to readers to decide her thoughts and feelings. In sum, the stylistic devices are employed by the author to enliven the narration, make it more vivid and palpable. Dove creates a powerful and true-to-life story about real experience of mothers exhausted by daily tasks. The unique combination of stylistic devices can be regarded as Dove’s style of writing which helps her to create powerful images of the woman and her daily life. Dove’s use of imagery and tone is a profoundly significant part of her style. Though Dove main ¬tains, both directly in his choice of theme and indirectly in his empathetic attitude, an overwhelming faith in love and importance of a mother as symbolized by a â€Å"daystar†. References 1. Dove, R. Daystar. Available at: http://www.ctadams.com/ritadove7.html

The Run Down on Empire State College Essay Samples Exposed

The Run Down on Empire State College Essay Samples Exposed Bridget's essay is quite strong, but there continue to be a couple little things that could be made better. Stephen's essay is rather effective. He connects his past experience to his current maturity through self-knowledge. He uses extremely detailed language to build up a visual scene that really makes this experience come to life. In both situations, you hit your target of greater reader engagement. The only means which they can see what's different about you versus another person is by reading your own personal statement. It was clear that the significance of family was an overarching theme inside this woman's life. Don't forget to make abstract claims concrete, or so the reader knows just what you mean. Later, once you're listening that what you recorded story to find a feeling of the way to write it, it is also possible to receive a feeling of the tone with which you need to tell that story. You have to grab their attention and the best method to do this is by writing in your voice. I am desperate to go through the very same feelings. A terrific college essay introduction is essential to making your essay stand out, so there's plenty of pressure to receive it exactly perfect. A quick sentence is utilised to make the emotional resolution of the admission essay. At this time, let's check out two or three examples of real college essay beginnings to explain to you how and why they work. Here are 3 methods to try it, with real-life examples from college essays published by colleges. College life includes writing essays and application letters whether you're in the subject of company or literature. Writing skills in college isn't restricted to essays. Summer is the best time to start your college essay. Professor Mitchell obtained a grant to have a category of students to Belgium to be able to study the EU. Along with just science, I'm drawn to State University for different factors. Thus, State University isn't only the ideal location for me, it is the sole location for me. On top of its growing cultural and ethnic diversity, it is becoming a master at creating a niche for every student. By means of this degree I have studied a wide variety of distinct subjects, including the one I would love to continue with through Suny Empire. Suny Empire presents multiple study choices like studying with a mentor, in addition to convenient on-line study. There are a lot of reasons why I've considered Suny Empire State College as a choice to continue my education. At precisely the same time, educators ought to be conscious of special needs of students with disabilities. Disability is the intricate notion that involves limited opportunities and distinctive needs of people but it doesn't indicate the inferiority of individuals in contrast to those, who don't have disability. As an example, gifted students could be prosperous in math that will place them in quite a challenging position. In reality, students with disabilities aren't inferior in comparison to their peers but they simply have special needs. The Meaning of Empire State College Essay Samples She would like to gen erate a difference locally, and an individual's life by tackling their problems one fix at one time. Being in college might be a small struggle for some. Now that I've shared some common mistakes with you, I want to share so tips that could help you become on the proper path to writing a personal statement that might help you get in the college of your selection. You gain various values in life, it is possible to realize certain things you want to overlook. Empire State College Essay Samples Fundamentals Explained My studies have given me a good foundation that will boost my capacity to be effective in business along with my private life. All these studies have given me knowledge and tools necessary to earn a constructive and productive effect in business. Read each essay topic and attempt to put it in the context of the college. Participating in such a huge study from beginning to finish has validated my interest in academic research for a profession.

Should Gym Classes Be Tested Grade Points Average Essay

OUTLINE Title: Should a student s grade in gym affect his overall grade point average? Purpose: To convince the audience that, a grade of gym should not be counted, as it might affect overall grade for majority of students. I. INTRODUCTION A. Attention Graber: How many of you are interested in gym class? And if you are then, should gym class should be included in GPA for grading? B. Thesis: Grade of gym class should not be counted in overall grade point average for students. C. Qualification: There was a physical training class which is similar to gym class, when I was in high school. I could not able to perform some exercises and, for that matter, my instructors always sarcastic to me to try harder. Also, he deducts points in some exercises that I unable to perform. This is one of the reasons why I urge to exclude grade point average of the gym class to count in grade point average. II BODY Transition Sentence: Firstly, I will talk about in terms of mental and physical ability. A Reason 1: Mental and physical should not be compared, which is one of the factors that affects overall GPA of students. a: If a student has great skills for instance, in Mathematics than there are lot of opportunities like math contests and quizzes worldwide to take part, by which students learn problem solving skills. And as far as the physical strength is concern, gym doesn t genuinely do anything other than fun. b: Applicable for majority of the students, who don t get a job by doingShow MoreRelatedEssay on Physical Education: Most Underrated Class There Is?1892 Words   |  8 Pagesimportant to a student’s daily life. The first reason for why it helps students is that it is proven to help students achieve better in their core classes. Also, it keeps them physically fit and a healthy weight. Our last reason is that it helps relieve stress and get a student’s mind off their problems. For years, schools have been trying to get rid of gym class and not make it a requirement anymore. Now that not all schools require it anymore, they want to try and entirely get rid of it. A school’sRead MoreThe United States And The World Of Education2000 Words   |  8 Pagesdifferently to fall so far behind. One of the key differences is homework and the lack thereof. Finland believes that large amounts of homework are detrimental to a student’s education. (Doyle) Why would the United States choose not to emulate this tested and proven system? That is what I am to discover. Through analysis of stakeholders such as students, teachers, prospective students and the United States Board of Education I plan to evaluate what it is that is keeping this system in place. TheRead MoreThe Effect of Study Habits on the Academic Performance3650 Words   |  15 Pagesdifference in the academic performance of the respondents when grouped according to time spent in reviewing for the examinations. The hypotheses were tested at 0.05 level of significance. 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While developmentRead MoreEssay on Virtual Child16751 Words   |  68 Pageschild, so you take her to meet lots of new relatives, neighbors and friends. 2) Q: You notice that Preslee seems to have little goals that involve two steps of planning ahead, so you encourage these cognitive advances by: A:encouraging Preslee to point to toys that are out of reach so you can get them for her, and encouraging Preslee to keep trying when there is an obstacle you know she can overcome. 3) Q: You want Preslee to establish a regular bed-time and sleep through the night. You thinkRead MoreSadie Hawkins Day and Valentine Grams18321 Words   |  74 PagesBy Felicia Jin ABC^2, Make-A-Wish and Chinese clubs sold Valentine grams and treats Feb. 9-13, bringing the â€Å"sweets to sweeties† and funding for good causes. The gifts were purchased during the week and distributed to classes today. ABC^2 (Academically Better Children’s Club) held a bake sale for the first time in the Main Hall and will be donating their proceeds to the St. Jude’s Hospital. â€Å"It’s hard to say how much money we’re trying to raise because it’s our first time, but we’re hoping for aRead MoreConsumer Lifestyle in Singapore35714 Words   |  143 Pages..................................... 20 Chart 7 Chart 8 Per Capita Expenditure on Consumer Foodservice by Chained and Independent 2011 ................................................................ ...................... 22 Regional Ranking of Average Supply of Food Calories per Day 2011 ....... 22 Drinking Habits ........................................................................................................................... 23 Attitudes Towards Drinking ...........................Read MoreLogical Reasoning189930 Words   |  760 Pagesorganization is sound and the author does a superior job of presenting the structure of arguments. David M. Adams, California State Polytechnic University These examples work quite well. Their diversity, literacy, ethnic sensitivity, and relevancy should attract readers. Stanley Baronett. Jr., University of Nevada Las Vegas Far too many authors of contemporary texts in informal logic – keeping an eye on the sorts of arguments found in books on formal logic – forget, or underplay, how much of Read More_x000C_Introduction to Statistics and Data Analysis355457 Words   |  1422 Pagesï ¬ ve years as the Chief Reader for the Advanced Placement Statistics Exam and currently chairs the American Statistical Association’s Joint Committee with the National Council of Teachers of Mathematics on Curriculum in Statistics and Probability for Grades K–12. In addition to her texts in introductory statistics, Roxy is also co-editor of Statistical Case Studies: A Collaboration Between Academe and Industry and a member of the editorial board for Statistics: A Guide to the Unknown, 4th edition. Outside

Psychosocial Development - 1888 Words

Stage one is called trust versus mistrust and ranges in ages from 0 to 2. Erikson believed that this stage is centered around the following question; â€Å" is the world safe and predictable or dangerous and chaotic?†. Erikson believed that during the first couple years of an infants life it is important for the infant to learn that caregivers can be trusted to provide what the infant needs. This helps the child to develop a sense that the world is trustworthy. If there was a scenario where the child was not properly taken care of in the first couple years then the child may develop a form of mistrust and the world may seem unpredictable and the people who are supposed to love and care for the child may be undependable. When this stage is†¦show more content†¦During the third stage it is important for the children to make judgement and start planning their actions. Children will also start to asert more power to the world around them. During this stage the caregiver should encourage the child to explore and begin making important decisions. The children that are successful at this stage, merge with a sense of initiative. But the children that are not successful may merge with a sense of guilt. A positive example would be my husband. He has a lot of initiative and his mother told me when he was four he wanted to do and try everything himself. A negative example would be my brother. He refused to try at anything. He always says its too hard for him and that he needs help. He never wants to play with anyone or if he does he has to be the one to pick the game. He does have a huge imagination though. Stage 4 is ranged from ages 5 to 12 and has the main question asked â€Å" How can I be good?†. Erickson considers this stage industry vs. inferiority. During this stage children focus on developing a sense of competence (the ability to do something successfully). 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Throughout our life we are constantly going to be changing either biologically or psychologically. We know that our brain a very important and vital component in our body, that helps us in our day to day things. Just like our body our brain also goes through change. We become more intellectual than we were when we were younger. Many psychologists have tried to study and understand how our brain process and developsRead MoreThe Stages of Psychosocial Development1251 Words   |  5 PagesDuring the first psychosocial stage test back in 1975, Erikson figured that how a mother and father look after their child is a major factor in determining how much trust the child will place in their parents. (1998-11734-016). At this time in life, humans are very dependent, and practically helpless with everything. We have to rely on other people for everything from food, to clothing, to bathroom needs, and in this ca se, affection. The main issue of this stage is Trust vs. Mistrust. ObviouslyRead MoreErikson s Psychosocial Theory And Psychosocial Development1561 Words   |  7 Pagesimportant to further understand human behavior. However, this paper will focus on only two theories which are; Erikson’s psychosocial theory and Alfred Adler’s Adlerian theory. Erik Erikson’s psychosocial development has always been a great contribution to the field of psychology by Erik Erikson (Berk, 2007). Erikson suggested that everyone experiences a series of psychosocial stages instead of psychosexual stages as proposed by Sigmund Freud. Despite the fact that Erikson disagreed with SigmundRead MoreErik Erikson : Psychosocial Development1103 Words   |  5 PagesErik Erikson: Psychosocial Stages of Development â€Å"Erik Erikson was best-known for his famous theory of psychosocial development and the concept of the identity crisis. 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A deeper understanding of this enables me the ability to identify key developmental milestones and improve my lesson plansRead MoreThe Psychosocial Theory Of Human Development832 Words   |  4 PagesA third development theory that I will discuss is called the â€Å"Psychosocial Theory.† The psychosocial developmental theory emerged from the work of psychologist Erik Erikson. Erikson argued that human development was influenced by social experiences that take place through eight stages. In fact, Erikson’s theory was influenced by his experience in analyzing and studying of various types of people from various ba ckgrounds and culture. Thus, Erikson believed that human life evolved through experiencingRead MoreBruno Bettelheim and Psychosocial Development1807 Words   |  8 PagesBruno Bettelheim and Psychosocial Development The psychological aspect of the human mind is one of the most mysterious and unpredictable entities known to man. 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Development at this point in life depends onRead MoreEarly Childhood Psychosocial Development Essay1307 Words   |  6 Pages The development starts from infant until old age. Childhood is a time of tremendous change, but people also continue to grow slowly and develop during adulthood. It is a continuous process with a predictable sequence. These developmental changes may be influenced by genetic factor, environment factor and maturation factor. There are three types of human development changes: physical development, cognitive development and psychosocial development. Our group member’s choice is psychosocial development

Boston Beer Analysis Free Essays

string(282) " His actions and goals are seen laid out in all of the company’s press releases and the company is continuing to be grown and maintained the same as it always has been with the exception of Boston Beer Company running its own breweries instead of subcontracting out their orders\." Matthew Schreck Management 511: Financial Decision Making Boston Beer Company April 18, 2013 Amelia Drobile Boston Beer Company History and Financial Position Boston Beer Company (SAM) is a brewery in Massachusetts most commonly known for its Samuel Adams line of â€Å"craft† beers. The Samuel Adams line of beer was introduced in 1985. Since then the company has grown to do over 580 million dollars in revenue each year. We will write a custom essay sample on Boston Beer Analysis or any similar topic only for you Order Now 580 million is a very small piece of the food and beverage industry but the amount of shareholder wealth they are providing is impressive. Boston Beer Company has been named one of the top publically traded businesses to watch in 2013 by Forbes. Boston Beer Company is actually part of two markets. In the overall U. S. Beer market they have a mere one percent of the market. However, they own 22% of the craft beer market. In their industry, 66% of those competing in the craft brew market are brewpubs, which generally do not do mass distribution giving Boston Beer Company an edge. (Smith, 2011) Boston Beer Company has one major difference from its competitors. The company has no debt. The entire company runs on cash even though they have a 50 million dollar line of credit available to them, which they have never used. The company purchased Diageo’s Pennsylvania Brewery in June of 2008 for 55 million dollars cash so that they could produce 100% of their product without having to subcontract larger orders out. Boston Beer Company is capitalized with no bonds or preferred stock, only 13. 6 million shares of common stock. (Smith, 2011) Boston Beer Company’s cost of capital is 6. 60% since their weighted cost of equity is 6. 60% and their weighted cost of debt is 0. 00%. Market Grader Inc. , 2013) Price to Revenue Ratio (Price to Sales) Boston Beer Company’s price to revenue ratio (TTM) is 3. 54 The price to revenue ratio is usually applied in place of the price to earnings ratio. This ratio is usually applied to companies within the same industry, however it excludes debt and expenses so the information the ratio provides is limited. Price to Cash Flow Ratio The current price to cash flow ratio for Boston Beer Company is 25. 76. The price to cash flow ratio is used to evaluate the price of a company’s stock as compared to the amount of cash flow it generates. The price to cash flow ratio is important for one main reason, it allows the comparison of companies from different jurisdictions because it removes depreciation (which may vary by country) and other non-cash factors. Therefore, it would allow an investor to compare Boston Beer Company’s stock to that of AB InBev along similar financial values. Price to Book Ratio (MRQ) The price to book ratio for Boston Beer Company is 8. 34. The price to book ratio measures a company’s market value in comparison to its book value. The price to book ratio indicates whether or not a company’s asset value is comparable to the market price of it’s stock. Because the price to book ratio for Boston Beer Company is well over one it may be an indicator that the stock is overvalued. An over valued stock for Boston Beer Company could imply the rapid decline in stock value in the near future, especially since the stock has climbed almost 25% in the last quarter alone. With the book value ratio as high as it is, a drop in stock price seems likely in the near future. Current Ratio (MRQ) Boston Beer Company’s current ratio is 1. 83. Current ratio is defined by a company’s current assets divided by is current liabilities. A company’s current ratio is a liquidity ratio that measures a company’s ability to pay short-term obligations. This ratio also takes into account inventory as current assets, although it may easily be converted into cash quickly. Because Boston Beer Company’s ratio is well over one, it means they have the assets and cash flows available to pay off any immediate debt should it be made due. The company’s amount of inventory provides a great deal of assets that makes the company much more liquid when this formula is used. Quick Ratio (MRQ) The quick ratio for Boston Beer Company is 1. 33. A company’s quick ratio is an indicator of a company’s short-term liquidity. This ratio is a more conservative form of the current ratio because it does not take into account inventory of the company when determining its current assets. Boston Beer Company still has a favorable ratio well above 1. 0. While their current ratio is much better with all the inventory, Boston Beer Company is still a reliable company that can pay off its short term debts if need be. Measuring Returns Primary Stakeholders Boston Beer Company has five primary stakeholders within company, Martin F. Roper (President and CEO), C. James Koch (Founder and Chairman), William F. Urich (CFO and Treasurer), John C. Geist (Vice President of Sales), and Thomas W. Lance (Vice President of Operations). Of the five of them C. James Koch holds more than 34% of the shares and is the sole holder of the class B common stock that gives him the right to appoint five of the eight members that are chosen to be on the board as seen in the following quote from the 2013 Proxy Statement. At the Annual Meeting you will be asked to elect three Class A Directors and cast an advisory vote on executive compensation. As the sole holder of Class B Common Stock, I will elect five Class B Directors and cast a vote to ratify the selection of our independent registered public accounting firm. † (Boston Beer Company, Inc. , 2013) While Koch may have stepped down from CEO in 2001 he has maintained a great interest in his company and has positioned himself to have great control over the Company with his position as Chairman of the Board. His actions and goals are seen laid out in all of the company’s press releases and the company is continuing to be grown and maintained the same as it always has been with the exception of Boston Beer Company running its own breweries instead of subcontracting out their orders. Capital Budgeting Boston Beer Company runs just like any cash business. They have no money tied up in debt and any investment they make is paid for in cash. There is an upside and downside to this method of running a company. On the upside, the company is very liquid, meaning they can pay for most investments on the spot without accruing any debt. However, no debt might deter some investors from buying into the company. Having no debt throws off a company’s ratios in comparison with other companies within the industry and can make it difficult for investors to trust in the company. A typical investment for Boston Beer Company would be opening a new brewery or purchasing an existing one to help the company keep up with the demands for their products. The acquisition of the Diageo brewery 60 miles outside of Philadelphia in 2008 was the company’s most recent investment. Since the purchase, Boston Beer Company has been pouring tens of millions of dollars into the facility that used to employ 220 people to make Smirnoff and now employs 260 people to brew Sam Adams. â€Å"Boston Beer’s Breinigsville facility employs 260, up from 220 workers when the plant was purchased from Diageo. † (Richardson, 2012) Boston Beer Company now has three breweries. They are located in Cincinnati, Ohio, Breinigsville, Pennsylvania, and Boston, Massachusetts. Boston Beer Company has been weary to invest in the western half of the U. S. because they believe the craft beer market is oversaturated and they will not have much success, however, some market specialists believe they should do a trial batch with a brewery in the western market and measure real results. The only real measure of value for Boston Beer is the volume being sold. Boston Beer used to lease brewery locations in order to brew according to their demand. Within the last five years the demands for craft beers have grown significantly especially among the younger alcohol consuming demographic that is looking for something more the generic beer taste of the three big beer companies, Anheuser Busch InBev, MillerCoors, and Pabst. Boston Beer Company no longer has the need to lease other breweries after the purchase of the Diageo brewery. Now that they have the capacity to brew their own beer and staff accordingly Boston Beer Company has not only added value to the company, but have positioned them self to expand as the demands for their products continue to increase. The only place that Boston Beer Company seems to be struggling with is the money that they are leaving sit idle. While the company is very profitable and is run as a cash business, some of their cash flows could be invested to generate a better return than they are currently getting. Strategy and Governance The Boston Beer Company is currently governed by a board consisting of eight members. The board consists of C. James Koch, David A. Burwick, Pearson C. Cummin III, Cynthia A. Fisher, Jay Margolis, Martin F. Roper, Gregg A. Tanner, and Jean-Michael Valette. The board has a committee that reviews the current members of the board at least annually and determines what characteristics and skills should be sought in new board members to be elected. Board members for the Boston Beer Company board members are asked to limit the number of boards they are on in order to keep them focused. â€Å"The Chairman of the Board and the Chairman of the Nominating/Governance Committee should be advised in advance of a director’s intention to accept an invitation to serve on another board† (Boston Beer Company, Inc. , 2013) Management Boston Beer Company’s executives have deep roots within the company. C. James Koch founded the company in 1984 and was Chief Executive Officer up until 2001 when he stepped down and became Chairman of the Board. Martin F. Roper the President and Chief Executive Officer replaced C. James Koch as CEO in 2001. Martin F. Roper has been with the company since 1994 when he was hired as Vice President of Operations. In 1997 he became Chief Operating Officer and in 1999 he became the President of Boston Beer Company. William F. Urich is the CFO and Treasurer since 2003. Before joining Boston Beer Company Mr. Urich served as Vice President of Finance and Business Development for United Distilleries Vinters from 1998 to 2000. From 2001 to 2003 Mr. Urich was Chief Financial Officer for Acirca, Inc. John C. Geist, the Vice President of Sales has been with the company since 1998 when he was first brought on as the National Sales Manager. He was made Vice President of Sales in February of 2007. David L. Grinell has been the Vice President of Brewing since 2008. Prior to that he started working as the Manager of Brewing Operations in 1988 before being promoted to Director of Brewing and Quality in 2001. The Vice president of Operations, Thomas W. Lance, joined the company in 2007 after leaving the Executive Vice President of Operations position at Ken’s Foods. A position which he held for five years. Ai-Li Lim is the Vice President of Human Resources. She joined the company in February of 2012 after leaving Vistaprint USA, Inc. as Senior Director of Human Resources. Robert P. Pagano, the Vice President of Brand Development joined the company in 2011. Prior to joining Boston Beer Company Mr. Pagano was the Managing Director at the brand strategy firm, Red Sky Insights, LLC, for five years. Kathleen H. Wade is the Vice President-Legal and Corporate Secretary. She joined the company in 1999 as Corporate Legal Director and Corporate Secretary. She became Secretary of the company in 2010 and was appointed to the vice president position in 2012. Average Ceo Compensation In This Industry Industry Range Salary686. 8K Bonus871. 2K Total Short Term Compensation1. 0M Total Value of Options4. 9M Key Executive Compensation Boston Beer Company, Inc. SAM Name/Title 20082009201020112012 Key Executive Compensation10,037,7063,868,6674,181,5019,897,5693,718,707 Martin F. Roper/President and Chief Executive Officer ,415,9181,049,3031,094,238933,8181,052,493 William F. Urich/Treasurer and Chief Financial Officer 834,313766,768938,3183,437,998599,363 C. James Koch/Chairman of the Board 589,496546,005836,895754,163817,949 Thomas W. Lance/Vice President, Operations 449,636858,643479,857693,401721,454 John C. Geist/Vice President, Sales 748,343647,948832,1934,078,189527,448 *A publicly-traded company is only required to disclose information concerning the amount and type of compensation paid to its CEO, CFO, and the three other most highly compensated executive officers in a given year. Information about compensation for these individuals may be unavailable in prior years if they were not in their current roles or did not qualify as among the most highly compensated officers at the time. (MorningStar, 2013) For the most part Boston Beer Company pays below the industry average with the exception of the executive bonuses that certain members of upper management received for reaching certain sales goals. Boston Beer Company is not nearly as large as the other beer conglomerates so it is expected that their executive compensation would be to scale. Corporate Social Responsibility Boston Beer Company’s corporate social responsibility (CSR) is heavily mandated by the government. Because they deal in the alcoholic beverage industry there are numerous amounts of taxes and laws restricting their advertising and sales. â€Å"The alcoholic beverage industry is regulated by federal, state and local governments. These regulations govern the production and distribution of alcoholic beverages, including permitting, licensing, marketing and advertising, distributor relationships, sales, environmental, and occupational health and safety issues. To operate its breweries, the Company must obtain and maintain numerous permits, licenses and approvals from various governmental agencies, including the Alcohol and Tobacco Tax and Trade Bureau, the Food and Drug Administration, state alcohol regulatory agencies and state and federal environmental agencies. † (Boston Beer Company, Inc. , 2013) Growth and Opportunity Boston Beer Company has grown significantly in the last decade. It has grown organically through increasing sales and demand from their marketing campaigns. It has also grown a great deal through acquiring two more breweries, one in Ohio and one in Pennsylvania in addition to the original Massachusetts brewery. Boston Beer Company is known primarily for its Samuel Adams line of â€Å"craft† beers however they also compete in other segments of the alcoholic beverage industry for those that don’t prefer beer. Boston Beer Company also makes Twisted Tea and Angry Orchard Cider. The concept of making several types of beverages allows Boston Beer Company to be more diversified and attract more sales by appealing to a larger demographic by providing a wider selection of products. Boston Beer Company has what most market analysts would call a â€Å"niche market†, meaning they will never produce a large scale generic beer like the big three beer companies (Anheuser Busch InBev, Miller, and Coors). So the need to diversify is not a necessity for survival or growth for the Boston Beer Company. Of the three major lines of alcoholic beverages the company produces, there are 56 varieties of them combined. Boston Beer Company essentially has it’s own market because 66% of their competitors are brewpubs that do not mass distribute. The only thing limiting Boston Beer Company other than its sales are it’s distribution network. Since the firm operates entirely on cash the value of the company has skyrocketed. Boston Beer Company has plenty of capital to reinvest in itself and increase shareholder wealth all while maintaining a balance sheet with minimal debt. Boston Beer has grown by leaps and bounds over the last decade, which is reflected by their total sales, volume of product produced (measured in barrels), and price per share, which is currently leveling out around $166. 00 per share. While companies like Anheuser Busch InBev have a much larger market cap (157. 93B) compared to Boston Beer Company (2. 1B), Anheuser Busch InBev’s price per share is only $98. 78. The overall value to the shareholders for Boston Beer Company is much greater because of the way the business operates and finances its investments. The company finances everything without debt controlling the company’s resources carefully and allowing rapid growth. Boston Beer Company will be one of the premiere firms to watch ove r the next decade to see how they will combat the much larger competitors within the industry as they try to compete in the craft beer market. References Smith, B. (2011, August 30). Buffett-Munger Screener Highlight – Boston Beer Company (Sam). Retrieved from Guru Focus website: http://www. gurufocus. com/news/144123/buffettmunger-screener-highlight–boston-beer-company-sam Market Grader Inc. (2013, March 30). Boston Beer Co. , Inc.. Retrieved from Market Grader Inc website: http://www. marketgrader. com/MG. Services/servlet/pdf. PDFServer? ticker=SAM Boston Beer Company, Inc. (2013). Proxy Statement 2013. Retrieved from Boston Beer Company website: http://www. bostonbeer. com/phoenix. zhtml? c=69432p=irol-overview Richardson, T. (2012, January 27). Boston Beer pouring millions into Lehigh Valley. Retrieved from The Morning Call Website: http://articles. mcall. om/2012-01-27/business/mc-allentown-boston-beer-20120127_1_craft-beers-samuel-adams-beer-yuengling Boston Beer Company, Inc. (2013) Corporate Governance Guidelines. Retrieved from Boston Beer Company website: http://www. bostonbeer. com/phoenix. zhtml? c=69432p=irol-governance MorningStar. (2013, April 18). Boston Beer Company, Inc. Class A (SAM). Retrieved fro m MorningStar website: http://insiders. morningstar. com/trading/executive-compensation. action? t=SAM Boston Beer Company, Inc. (2012) 10-K Annual Report 2012. Retrieved from Boston Beer Company website: http://www. bostonbeer. com/phoenix. zhtml? c=69432p=irol-overview How to cite Boston Beer Analysis, Papers

Wireless Network Security and Preventive Methods

Question: Describe about the wireless network security and prevention methods. Answer: Introduction Background Wireless networks are one of the major issues in computing and information technology that are prone to many security threats and attacks. This area of wireless networks involves information transfer hence needs security to ensure that an organizations information is not breached. Wireless networks can be secured through many different means as discussed in this essay. Scope of engagement This essay looks into the threats that wireless networks are likely to face. On top of that, the essay also discusses the different ways that can be applied to deal with the threats and also more on preventive measures, which are meant to make sure that security attack issues do not occur. Tools used In doing a research on wireless network security and preventive methods, the scope of a local area network was applied. The different tools used are the ones used locally in the network. This tools include personal computers, switches, and the network itself. Other tools for communication within the local area network were also considered. Summary of findings Impact in life Anantvalee Wu (2007) explain what it takes to go remote for the most part, which makes use of an access point for a web like a DSL modem or a link to a remote switch. This action transmits a sign through the air up to a maximum of one hundred feet. Any device that is within the hundred feet coverage can get the sign from the air and access the web. If no precautionary measures are taken, any person close can make use of the system. The implication is that nearby programmers or other persons could piggyback the system or access information in the device. When approved individual makes use of the system to carry out an unauthorized activity or send malicious software, the action could be followed back to the record. Use Encryption on the Wireless Network When you go remote, you ought to scramble the data you send to the remote system, so that close-by aggressors cannot listen stealthily on these interchanges. Encryption scrambles the data sent into a code for it not to be open to others. Making use of encryption is the best approach to secure the system from intruders. Two primary types of encryption are used for this reason: Wi-Fi Equivalent Privacy (WEP) and Wi-Fi Protected Access (WPA). The personal computer, switch and other gadgets used must make use of the same encryption. WPA2 is the most grounded and its use is applied on the rare chance that a decision is made. This encryption algorithm protects the network against general programmers. WEP encryption algorithm is also utilized by some more seasoned switches, in which there is no shielding against some particular programs for hacking. Another switch with WPA2 capacity can be purchased (Shin, Ma, Mishra Arbaugh, 2006). Access should be allowed to specific gadgets to gain access to the remote system. Every device that speaks with a system is an example of a Media Access Control (MAC) address. In most cases, remote switches have a system that allows specific gadgets with particular MAC locations to get access to the system. Many programmers have made use of the MAC addresses, so its dependence alone is not good. Secure the Router It is additionally vital to shield the system from assaults over the web by keeping the switch secure. The switch coordinates activity between the nearby system and the web. Along these lines, it is the first line of safeguard for guarding against such assaults. If you do not find a way to secure the switch, outsiders could access delicate individual or money related data on the gadget. Outsiders additionally could seize control of the switch, to direct the network to deceitful sites. A change of the switch name from the default one is required. The identifier of the switch, commonly referred to as the administration set identifier (SSID) is a standard that means a default ID that is allocated by the producer. The name should be changed to another one that no other person knows. Follow the recent advancements in technology: To ensure security, the accompanying product to the switch needs periodic updating. Before placing another switch, one should visit the site of the marker to see if there are variants of the product to download. Finding out about the most recent form, enroll the switch with the maker and sign up to get upgrades. What's more, after securing the switch, keep in mind to secure the PC as well. Utilize the same fundamental PC security rehearses that for any PC are associated with the web. For instance, use assurances like antivirus, antispyware, and a firewall - and stay up with the latest. Change the name of the home remote system When the home remote system has been set up, you have to change the SSID (Service Set Identifier). This is the name of the home system, the name other cell phones will see when attempting to associate with the Internet by utilizing the remote system from the home. The reason that a change of its name is needed is entirely simple to figure. Altering the name expands the trouble for a programmer to access the system. For the most part, switch makers allot the name of the organization that delivered the switch and it could be something like "Linksys", "Cisco" or "Belkin" (Anantvalee Wu, 2007). If the SSID is not adjusted, a programmer has a superior shot of breaking into a system, just by knowing the producer of the switch. Utilize this manual for roll out the vital improvements. Also, one additionally thing identified with this progression: Do not use the name or the family name so as to abstain from being recognized as the proprietor of the system. This is another point of interest that could give favorable position for a potential programmer or for an online criminal that may endeavor a data fraud operation. Pick a reliable and exceptional secret word for the remote system The remote switch comes pre-set with a default secret key. The issue is that this secret default word is anything but difficult to figure by programmers, particularly is they know the producer's name for the switch. At the point when setting a decent secret key for the remote system, ensure it is no less than 20 characters in length and incorporates numbers, letters, and different images. This setting will keep other individuals from getting to the system. Despite the fact that as a rule, it is nothing more genuine than some neighbor "taking" from the system transmission capacity speed, you may need to manage other all the more difficult circumstances, as online crooks that can get to the system to "tune in" to the activity information and recover touchy data. Expand the security by empowering system encryption There are a couple of well-known encryption alternatives for remote systems, as WEP, WPA, and WPA2. The last type of encryption, WPA2, is favored for its enhanced security and particularly if there is a home system. The choice to encode activity is valuable if one has to make the correspondence signals unusable for any unapproved outsider programming. As of now all remote gadgets out there bolster this innovation and it is normal information to utilize WPA2, which has a more noteworthy level of security. Impair the remote system when not at home This alternative is helpful, particularly when leaving home for broadened timeframes, for an excursion or a couple of days. This security measure, other than helping you to lessen power utilization, it will clearly stop any programmers that could tune into the system's movement or might attempt to get to it for noxious purposes. The position of setting up the switch in the house It could be a smart thought to put the remote switch as close as would be prudent to the center of the home. What's more, it's not only for each spot or room in the house to have the same access to the Internet but since you would prefer not to have the remote sign extent reach a lot outside the home, where it can be effectively gotten by programmers. Thus, don't put it excessively near a window, from where the sign can be effortlessly gotten to from outside, even at some separation, and may likewise take after our fourth govern to debilitate the switch when leaving the home. Pick a solid secret key for the system executive To set up the remote switch, generally get to an online stage or page, where adjustments are made to the system settings. As everyone knows, it is something ordinary to discover a switch with default certifications, for example, "Administrator" and "secret key" (Anantvalee Wu, 2007). Furthermore, these default login qualifications are not all that hard to break by a programmer. Most changes we do on an online stage are things like setting a solid secret key for the remote system or changing the system's name, both changes being made to guarantee a more prominent level of assurance from online offenders' noxious activities. Be that as it may if an IT criminal can get to the director stage and access the system's setup and design settings, this will demolish the day without a doubt. Stay up with the latest Consider the switch's product like whatever another programming you have on the working framework. It might be the antivirus program or whatever other application running on the framework (Xiao, Lin Du, 2007). The switch's firmware, similar to some other programming, contains defects which can get to be significant vulnerabilities unless they are immediately settled by firmware discharges from the producer. The issue is that most switches don't have the choice to introduce the most recent security upgrades and every once in a while one has to check the official site for security fixes. We should not overlook that a portion of the most noticeably bad security ruptures originated from security gaps in unpatched programs and working frameworks. Ensure the Network amid Mobile Access Applications now permit you to get to the home system from a cell phone. Before that, it is imperative to make certain that some security elements are set up. Try not to give outsiders a chance to utilize the system Secret key ensures the remote association. Turn on WEP (wired equivalency security) or WPA (Wi-Fi ensured access) on the majority of the gadgets, including the switch, the media focus, and the Microsoft Xbox stimulation framework. For more data, see Set up a security key for a remote system. Move the remote switch Place the remote access point far from windows and close to the focal point of the home to diminish the sign quality outside of the planned scope region. Conclusion In conclusion, it is imperative to comprehend that keeping all products current is important and counting the web program, with programmed upgrading. This measure is undertaken to ensure that the firewall is turned on and use antivirus and antispyware programming from a source that you trust, for example, Microsoft Security Essentials or Windows Defender (incorporated with Windows 8). Ordinarily, one can get to the switch's interface from a gadget associated with the system, yet a few switches permit to get to even from remote frameworks. To stop online programmers access to the switch's private settings, it is protected to handicap this choice in the switch's settings. References Anantvalee, T., Wu, J. (2007). A survey on intrusion detection in mobile ad hoc networks. InWireless Network Security(pp. 159-180). Springer US. Shin, M., Ma, J., Mishra, A., Arbaugh, W. A. (2006). Wireless network security and interworking.Proceedings of the IEEE,94(2), 455-466. Xiao, Y., Lin, Y. B., Du, D. Z. (2007). Wireless network security.EURASIP Journal on Wireless Communications and Networking,2006(1), 1-2.