Program Risk Analysis Essay - 1925 Words

Program Risk Analysis (Essay Sample) Content: Title: Program risk analysisLearnerà ¢Ã¢â€š ¬s nameInstitutional affiliationThe promotion of goods is a marketing strategy, through which companies create loyalty in their customers. The selling of goods at promotional prices encourages customers to purchase from the enterprise in the future. Toro introduced a promotion in the sale of their snow blowers in the early eighties. The promotion involved a refund to the customers, for their purchase, in the case of modest snowfall in the subsequent winter after purchase. This paper presents an analysis that seeks to explore the possible implications of the promotion, from three different views. The analysis of promotion risks bases on the views of the customer, company as well as the insurers.Risk analysis from Toroà ¢Ã¢â€š ¬s point of viewWhile the general view of the program shows some likelihood of risk, the risk level of the program, from Toroà ¢Ã¢â€š ¬s point of view is low. From the case study, looking at their pay out for the year of 1983, the company pays 680 thousand dollars ($680K), leaving sums amounting to $106K as profit. The risk level of the project could easily be misinterpreted if the happenings over the period are not put into consideration. During the period of the promotion, the insurance company made an error in the quotation of 2.1% of the snow blowers retail price covered. During the same month, the level of snowfall significantly increased in comparison to the previous year. As a result of the premium cap, the insurers accepted liability. The case further reveals that the company did not have to pay the normal 10% discount to the dealers, as it did in the fall. As a result, the company benefited by registering a 8% profit increase, as well as keeping their retailers and customers happy.Insurance companyà ¢Ã¢â€š ¬s point of viewFrom the assessment, the highest risk befell the insurance company. In compliance with their agreement with the enterprise (client), they covered 2.1% of the snow blowersà ¢Ã¢â€š ¬ retail value (Bell, 2004). As recorded in the case study, the cumulative number of rebates over the period of promotion was 19%. The coverage of the costs was shared between Toro and the American Home Assurance company, with the latter covering 17% of the rebate costs. Despite the challenge that the company faced with the promotion program over the period, there were still chances of continuing with it, after a few adjustments. One of the necessary adjustments would be increasing the premium to about 8% of the total sales. The increase would be equivalent to the average payouts the company had made over the four last four years. The consequence of the increase would be; an increase in rates by the insurer, to recover the loss. Nevertheless, the continued implementation of the promotion exposes Toro to significant risks, whose costs must be partly covered by the company. The presence of the risk lies in the nature of snowfall that can hardly be predict ed nor controlled.Customerà ¢Ã¢â€š ¬s point of view of the risk analysisThe consumer is the only party with no risk involved in the promotion program. The desire of any customer is to have security for expenditures made. The occurrence of snow can hardly be predicted, and hence the purchase of snow blowers would at some point look like a gamble. Due to the uncertainty in the occurrence of the snow, some customers would opt not to purchase, until it the snow occurred. The purpose of the promotion program was to give the customers an assurance of their expenditures, in that; if the snow failed to occur, they get a refund. For this reason, it was a win-win for the customers, since regardless of what happened, they would either use their product or get a refund. The running of the promotion highly benefits the customers, and motivate them to buy the snow blowers, without worrying about the chances of the snow occurrence in the subsequent winter. For this reason, the stoppage of the pro motion would likely demotivate the customers, who would begin to worry about the associated risks of buying the product, in the case the snow did not occur. In this regard, the likelihood would be a decline in the average sales registered by the company, since many of the customers would prefer waiting for the occurrence of the snow, before making purchases.What caused an increase in insurance rates?The rise in the insurance rates was triggered by the payout costs incurred in 1982. Due to the unpredictability of the occurrence of snow, the insurance company required analysis of the past data, in the determination of the appropriate payout rates. Based on the business activities that occurred between 1982/83, the insurance company determined that there was need to increase the rates, hence distributing the risks across the stakeholders. Since the insurer had previously registered an increase in the payout by 19%, it was logical to determine a new premium rate, which was quoted at 8%. This determination of the rates was based on two years, and therefore, if it was based on the previous three years, the company would use the rate of 4.2%, instead of the quoted 2.1%. Due to the unpredictability attached to the scenario, the determination of the actual risk in the promotion was difficult. If I were the insurer, I would have resolved to use the same formula, in the determination of rate to be applied to the Toro customersà ¢Ã¢â€š ¬ payouts.Examination of the customerà ¢Ã¢â€š ¬s view of the payback structureThe customers enjoyed the payback structure since it was a win-win for them. The payback structure guaranteed the clients of the benefit of their purchases. The provisions of the promotion were that the customer would either get enjoy the services of the machine during the snow period or in the case the snow never occurred, a full or partial refund was offered. The first win aspect of the payback structure was that; any customer purchasing the snow blower machin e needed not to worry about if the snow would occur, and in case it occurred, the machine serves its purpose. The determination of the snow occurrence was based on the weather station, which reported the levels of snow over the covered period. If the reported snow level were less than 20% of the average snow level, the company would give 100% money back. In the event the snow level was less than 50%, Toro would refund 10% of the purchase price, with the best part of the deal being that; the customer kept the machine for future use. Looking at the payout structure, it was a win for the customers, regardless of the level of snow that occurred. If Toro needed to continue the implementation of the promotion, keeping the risk level at a lower side, they needed to consider adjusting the provisions of the premium. The improvement would involve adjusting the full refund snow level from 20% to 10% or below. The percentage required for partial refund should also be adjusted 40% or below, henc e lowering the occurrences of refund.As a customer for the snow throwers, the ability to make a sound decision lies in the capacity to eliminate uncertainty (Peters, 2005). In this case, the uncertainty in the occurrence of the snow, as well as the snow level affects the consumer decision-making process. The consumers tend to focus on the current seasons, at the expense of the subsequent ones. The decision of the consumer not to buy the snow blowers proves costly in the event of the snow occurrence.The conjoint decision trapsThe decision-making traps cannot be overlooked in this analysis. All the parties involved are likely to be faced with common decision traps of varied intensity. The consumers are the party most likely to be faced with the common decision traps. The statistics of the snow occurrence may influence the consumerà ¢Ã¢â€š ¬s decision to purchase the snow blower machine. For instance, if the previous year experienced hid snow downpour, the pseudo-certainty effect may take the course, leading to the consumerà ¢Ã¢â€š ¬s decision to buy (Roebuck, 2012). The payout structure does favor the consumer, and hence the decision to purchase the machine may be easier since the customer has nothing to lose.The insurance company applies the focalism (anchoring) theory in its decision on the appropriate premium rates. Assuming that Toro continued with the promotion, the insurer would make a decision on the premium rates, based on the data of the previous period. Toro would also apply the same theory to decide on the appropriate rates, in the efforts to avoid the repeat of losses encountered in the prior period.The decision matrixConsumer * General: the insurer gives weight to the information initially received. * Specific: by overestimating or underestimating the possible snow in the subsequent year, the insurer is subjected to negative or risk-acceptant.

San Marino - Information and Geography

San Marino is a small country located on the Italian Peninsula. It is completely surrounded by Italy and has an area of just 23 square miles (61 sq km) and a population of 33,779 people as of 2018. Its capital is the City of San Marino but its largest city is Dogana. San Marino is known as being the oldest independent constitutional republic in the world. Fast Facts: San Marino Official Name: Republic of San MarinoCapital: San MarinoPopulation: 33,779 (2018)Official Language: ItalianCurrency: Euro (EUR)Form of Government: Parliamentary republicClimate: Mediterranean; mild to cool winters; warm, sunny summersTotal Area: 24 square miles (61 square kilometers)Highest Point: Monte Titano at 2,425 feet (739 meters)Â  Lowest Point: Torrente Ausa at 180 feet (55 meters) History of San Marino It is believed that San Marino was founded in 301 CE by Marinus the Dalmatian, a Christian stonesman, when he fled the island of Arbe and hid on Monte Titano. Marinus fled Arbe to escape the anti-Christian Roman Emperor Diocletian. Shortly after he arrived at Monte Titano he founded a small Christian community that was later became a republic called the Land of San Marino in honor of Marinus. Initially, the government of San Marino consisted of an assembly made up of the heads of each family residing in the area. This assembly was known as the Arengo. This lasted until 1243 when the Captains Regent became joint heads of state. In addition, the original area of San Marino only included that of Monte Titano. In 1463, however, San Marino joined an association that was against Sigismondo Pandolfo Malatesta, Lord of Rimini. The association later defeated Sigismondo Pandolfo Malatesta and Pope Pius II Piccolomini gave San Marino the towns of Fiorentino, Montegiardino, and Serravalle. In addition, Faetano also joined the republic in the same year and its area expanded to a total of its current 23 square miles (61 sq km). San Marino has been invaded twice throughout its history—once in 1503 by Cesare Borgia and once in 1739 by Cardinal Alberoni. Borgias occupation of San Marino ended with his death several months after its occupation. Alberonis ended after the Pope restored the republics independence, which it has maintained ever since. Government of San Marino Today, the Republic of San Marino is considered a republic with an executive branch consisting of co-chiefs of state and a head of government. It also has a unicameral Grand and General Council for its legislative branch and a Council of Twelve for its judicial branch. San Marino is divided into nine municipalities for local administration and it joined the United Nations in 1992. Economics and Land Use in San Marino San Marinos economy is mainly focused on tourism and the banking industry, but it relies on imports from Italy for most of its citizens food supplies. The other main industries of San Marino are textiles, electronics, ceramics, cement and wine. In addition, agriculture takes place on a limited level and the main products of that industry are wheat, grapes, corn, olives, cattle, pigs, horses, beef, and hides. Geography and Climate of San Marino San Marino is located in southern Europe on the Italian Peninsula. Its area consists of a landlocked enclave that is entirely surrounded by Italy. San Marinos topography mainly consists of rugged mountains and its highest elevation is Monte Titano at 2,477 feet (755 m). The lowest point in San Marino is Torrente Ausa at 180 feet (55 m). The climate of San Marino is Mediterranean and as such it has mild or cool winters and warm to hot summers. Most of San Marinos precipitation also falls during its winter months. Sources Central Intelligence Agency. CIA - The World Factbook - San Marino.Infoplease.com. San Marino: History, Geography, Government, and Culture- Infoplease.com.United States Department of State. San Marino.

Iron Jawed Angels By Katja Von Garnier - 1651 Words

Iron Jawed Angels, by Katja von Garnier, is a non-fictional drama about a group of women who do everything they can and will do in order to the women’s right to vote during the years between 1912 and 1920, as it was started by Susan B. Anthony, Elizabeth Cady Stanton, and many others in 1890. Alice Paul and Lucy Burns, two of the younger women suffragists, join the NAWSA (the National American Woman Suffrage Association) to try to push for the constitutional amendment for women’s suffrage. Carrie Catt and Anna Shaw allow Alice Paul and Lucy Burns to take over the Washington D.C. NAWSA committee, but Alice and Lucy would have to raise their own funds for the committee. When Alice and Lucy first get to Washington D.C., Alice and Lucy go around recruiting a team of volunteers, including Mabel Vernon, Ruza Wenclawska, and Doris Stevens. Alice, Lucy, Mabel, Ruza, and Doris went to an art gallery to solicit for donations and in the process, Alice convinces Inez Mulholland, a labor lawyer, to be the figure for the parade and the committee. President Woodrow Wilson on one side of Washington D.C. feels a little bit ignored, because on the other side of Washington D.C. the women suffrage parade ends up turning into a riot, with the women suffragists being attacked. Alice and Lucy go over Carrie’s, the president of NAWSA, head to pursue their advantage of publicity by getting a delegation to go see and talk to President Wilson. President Wilson, tells them that they have to wait aShow MoreRelatedIron Jawed Angels: Film Analysis1302 Words   |  5 PagesIron Jawed Angels is the moving 2004 film that highlights how Alice Paul and Lucy Burns fought for womens suffrage. In the film, director Katja von Garnier, follows these women and the efforts they put forth as members of the National American Woman Suffrage Association (NAWSA) and later the work they did as founders of the National Womans Party (NWP). The film showcases the trials that Alice Paul and Lucy Burns had to overcome, not just from opposition found within NAWSA, but also among societyRead MoreEssay on Impossible is Nothing: One Woman, One Vote911 Words   |  4 Pagesinformation about wars and the passing of importance legislation, however there remains prominent gaps in our understanding of women suffrage for equality--a war that had been going on for half a century. Jennifer Friedess story Iron Jawed Angels produced by Katja von Garnier, underscores the struggle and grief that women suffragists endured, along with providing the viewer with an in-depth understanding of the events, consequences and heroic actions of the activists of the 1920s womens suffragistRead MoreIron Jawed Angels2588 Words   |  11 PagesTitle: Summary, Reaction, and Analysis Paper #1: Iron-Jawed Angels Iron Jawed Angels is a story of two women fighting for women’s rights. They led the struggle for the passage of the 19th amendment to the constitution which gave women the right to vote. These two women along with others petitioned, campaigned, and picketed to publicize the issue. After being arrested for â€Å"traffic violations† a group of women spent time in Occoquan Workhouse. Here they went on a hunger strike to protestRead MoreWomens Suffrage: Creation of the 19th Amendment Essay3991 Words   |  16 Pages2. Butler, Amy E. Two Paths To Equality : Alice Paul And Ethel M. Smith In The ERA Debate, 1921-1929. State University of New York Press, 2002. eBook Collection. Web. December 16, 2012 Movie Perf. = performers/actors names 3. Iron Jawed Angels. Katja Von Garnier. Perf. Hilary Swank, Anjelica Huston, Frances O’Connor. HBO, 2004, DVD Websites 4. â€Å"Women’s Suffrage in the United States.† Wikipedia: The Free Encyclopedia. Dec. 15, 2012. Wikipedia Foundation, Inc. from http://en.wikipedia.org/wiki/Womens_suffrage_in_the_United_States

Objectives in Corporate Finance free essay sample

If you don’t know where you are going, it does not matter how you get there† Aswath Damodaran Stern School of Business Aswath Damodaran 2 First Principles Invest in projects that yield a return greater than the minimum acceptable hurdle rate. †¢ The hurdle rate should be higher for riskier projects and reflect the financing mix used owners’ funds (equity) or borrowed money (debt) †¢ Returns on projects should be measured based on cash flows generated and the timing of these cash flows; they should also consider both positive and negative side effects of these projects. Choose a financing mix that minimizes the hurdle rate and matches the assets being financed. If there are not enough investments that earn the hurdle rate, return the cash to the owners of the firm (if public, these would be stockholders). †¢ The form of returns dividends and stock buybacks will depend upon the stockholders’ characteristics. Objective: Maximize the Value of the Firm Aswath Damodaran 3 The Classical Viewpoint Van Horne: In this book, we assume that the objective of the firm is to maximize its value to its stockholders Brealey Myers: Success is usually judged by value: Shareholders are made better off by any decision which increases the value of their stake in the firm The secret of success in financial management is to increase value. We will write a custom essay sample on Objectives in Corporate Finance or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The most important theme is that the objective of the firm is to maximize the wealth of its stockholders. Brigham and Gapenski: Throughout this book we operate on the assumption that the managements primary goal is stockholder wealth maximization which translates into maximizing the price of the common stock. Aswath Damodaran 4 The Objective in Decision Making In traditional corporate finance, the objective in decision making is to maximize the value of the firm. A narrower objective is to maximize stockholder wealth. When the stock is traded and markets are viewed to be efficient, the objective is to maximize the stock price. All other goals of the firm are intermediate ones leading to firm value maximization, or operate as constraints on firm value maximization. Aswath Damodaran 5 The Criticism of Firm Value Maximization Maximizing stock price is not incompatible with meeting employee needs/objectives. In particular: †¢ Employees are often stockholders in many firms †¢ Firms that maximize stock price generally are firms that have treated employees well. Maximizing stock price does not mean that customers are not critical to success. In most businesses, keeping customers happy is the route to stock price maximization. Maximizing stock price does not imply that a company has to be a social outlaw. Aswath Damodaran 6 Why traditional corporate financial theory focuses on maximizing stockholder wealth. Stock price is easily observable and constantly updated (unlike other measures of performance, which may not be as easily observable, and certainly not updated as frequently). If investors are rational (are they? ), stock prices reflect the wisdom of decisions, short term and long term, instantaneously.

Solar Photovoltaic Essay Example

Solar Photovoltaic Essay Solar energy has many advantages, one of which is its renewable supply which is environment friendly. In contrast to fossil fuels, solar energy is obtainable almost anywhere here on Earth and this particular source of energy is free of charge as well as impervious to mounting energy prices. Solar energy could also be used in different manners, it could be used to supply heat, lighting, mechanical power as well as for electricity. Sunlight could produce electricity by making use of photovoltaic. Photovoltaic or solar cells are means for semiconductor and they are generally made of silicon which does not hold liquids. Aside from that PVs are also caustic chemicals. They manufacture electricity given that a light burnishes on them, they also need only trivial preservation, they do not contaminate and they function in a very silent manner. All of these make photovoltaic energy the cleanest as well as the safest means of power production (Go Solar Company 2007). Solar cells have a wide assortment of sizes but usually they are 10 cm x 10 cm and engender almost half a volt of electricity, they are also bunched collectively in modules or groups in order to generate higher voltages and amplified power. A 12-volt module, for an instance, based on its power productivity, could possibly have 30-40 photovoltaic cells. Photovoltaic panels are not extremely effective, producing just 12-15% of the sun’s light into electricity; however, laboratory samples are accomplishing 30% effectiveness (Go Solar Company 2007). We will write a custom essay sample on Solar Photovoltaic specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Solar Photovoltaic specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Solar Photovoltaic specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Photovoltaic modules also produce direct current or the type of electricity generated by batteries. Even though radiant lights could activate on direct current, the majority of electric apparatus necessitate 120-volt alternating current as provided by efficacies. A tool which is called an inverter converts direct current into alternating current. Inverters differ in size as well as on the value of electricity they deliver. When probing the price of photovoltaic systems, a buyer ought to take into account a number of things. First is that photovoltaic modules are technically well established, it also have an expected eservice time of thirty years. Also, as a modular system it have the capability to expand from a milli-watt system into a megawatt system which permits the elasticity required to gather mounting energy requirements. Photovoltaic is a lucrative and practical alternative for those who live in secluded districts wherein utilities could charge $18, 000 up to $60,000 per kilometer to operate a power line into an isolated region (Cogeneration Technologies, et al. 2002). In places wherein there are both severe as well as off-grid necessity for electricity, there is an inadequate source of workable supply of energy. Customarily, electricity in the north has been supplied by diesel production, which is expensive, due to exalted fuel transportation expenses and, if a leak takes place, destructive to the local environment that is why it is mostly in these regions that photovoltaic, a clean and dependable supply of electricity, is very promising. Photovoltaic systems in northern areas should be technologically flexible to endure severe weather conditions as well as to supply electricity when there are sizeable cyclic instabilities in solar radiation (Cogeneration Technologies, et al. 2002). In the developing world, where there is plentiful sunlight as well as a sizeable rural populace without the proper infrastructure to advance an electrical grid, photovoltaic is viewed as very appealing alternative mainly due to its modular facets, its capability to produce electricity at the concrete time of use, its low maintenance necessities and its non-contaminating technologies. Photovoltaic is also essential to rural health clinics in developing countries since these clinics need electricity for lighting, vaccine refrigeration as well as water pumping and purification thus photovoltaic proved to be a dependable method for these remote clinics.

French Expressions Using Monter

French Expressions Using Monter The French verb monter literally means to go up and is also used in many idiomatic expressions. Learn how to be promoted, rise gently, turn up the volume, and more with this list of expressions with monter. Possible Meanings of Monter to go upto assembleto climb up/intoto editto mountto organize, set upto put upto riseto stageto take upto turn upto well up Expressions with Monter monter to go up to visit / work in (a city)monter bicycletteto cycle up; to ride a bikemonter bord (dun navire)to go on board a shipmonter chevalto get on a horse; to ride a horsemonter / jusquto come up tomonter /dans sa chambreto go up to ones roommonter là ©tageto go upstairsmonter piedto walk upmonter aux arbresto climb treesmonter dans lestime de quelquunto rise in someones estimationmonter dans un avionto board a planemonter dans un trainto board a trainmonter des maillesto cast on stitchesmonter en courantto run upmonter en flà ¨cheto soar (literally and figuratively)monter en gradeto be promotedmonter en lacetsto wind upwardsmonter en parallà ¨leto connect in parallelmonter en pente douceto rise gentlymonter en sà ©rieto connect in seriesmonter en titubantto stagger upmonter en trainto go up by trainmonter en voitureto drive up; to get into a carmonter le bourrichon quelquun (informal)to put ideas in someones headmonter le coup quelquun (fam)to take someone for a ridemonter lescalierto go up the stairsmonter la gamme (music)to go up the scalemonter la gardeto go/be on guardmonter le sonto turn the volume upmonter la tà ªte quelquunto get someone worked upmonter par lascenseurto take the elevator upmonter prà ©venir quelquunto go up and tell someonemonter quelque chose en à ©pingleto blow something all out of proportionmonter quelquun contre quelquunto set someone against someonemonter voir quelquunto go up and see someonemonter surto climb up onmonter sur le trà ´neto ascend to the thronemonter sur un arbreto climb a treemonter sur une bicycletteto get on a bicyclemonter sur une collineto climb a hillmonter sur une à ©chelleto climb a laddermonter un chevalto ride a horsemonter une cà ´teto go up a hillmonter un coupto plan a jobmonter une histoire pour dà ©shonorer quelquunto invent a scandal to ruin someones nameÇa fait monter les prix. It makes prices go up.Cest lartiste qui monte.Hes an up-and-coming artist.Cest lhomme qui monte.Hes on the way up (to fame).Cest une histoire montà ©e de toutes pià ¨ces.Its a complete fabrication.à ªtre montà © contreto be dead set againstfaire monter des blancs en neigeto beat egg whites into stiff peaksfaire monter quelquunto tell someone (e.g., a guest) to come upfaire monter ses valisesto have ones luggage taken upJe monte la garde (sign)Beware of dogLa moutarde me monte au nez.Im losing my temper.se monterto come to, amount tose monter le bourrichon (informal)to get all worked upse monter la tà ªte (pour un rien)to get all worked up (over nothing)Monter conjugations

Comm 4462 Coursework Example | Topics and Well Written Essays - 250 words

Comm 4462 - Coursework Example One party perceives that the other party has better alternatives of power so the weaker party tries to suppress the conflicting issues. It is distinctive as power relationship is maintained between two parties on consideration of weaker and stronger party. 3. Anything that can be employed in achieving the set goals of a party or getting into conflicts of others qualifies as a resource such as personal strengths and skills. These resources can be employed for solving different kinds of conflicts. 4. The three methods that supervisors can use in criticizing their subordinates can be 1) private criticizing of subordinates instead of criticism in front of other people, 2) along with issues, points of better performance and good work are also discussed by the supervisor and 3) supervisor did not attach compensation increase with criticism. These methods are supportive in endorsing power because subordinates cooperate with the supervisor and do not challenge his authority. The resistance is minimized because of this approach as subordinates consider themselves affiliated with the supervisor. 5. The two levels of meaning carried by messages during face-to-face interactions are report aspect and command aspect. The report aspect can be described as the deliverance of content of the message while command aspect can be described as a relational message or verbal message that is indicative of the relationship between two people or their regard for each