New Eye Tracking Techniques Improve Realism Of Aircraft Essays - Eye

New eye tracking techniques improve realism of aircraft simulators A simulated flight environment for pilot training may soon be made more realistic through the use of eye-tracking technology developed by researchers at the University of Toronto's Institute of Biomedical Engineering (IMBE). Many safety and cost benefits are obtained by training aircraft pilots under simulated conditions, but to be effective the simulation must be convicingly realistic. At present, the training facilities use large domes and gimballed projectors, or an array of video screens, to display computer-generated images. But these installations are very expensive and image resolution is low. Further, it would take an enormous amount of addi to improve image quality significantly throughout the whole viewed scene. However, based on the visual properties of the eye, realism can be obtained by providing a high-resolution 'area of interest' insert within a large, low-resolution field of view. If the image-generating computer 'knows' where the pilot's fixation is, it mage there. The technology to make this possible was developed by a research team headed by Professor Richard Frecker and Professor Moshe Eizenman. The work was carried out in collaboration with CAE Electronics Ltd. of Montreal with financial support from the Natural Sciences and Engineering Research Council of Canada. Their eye-tracker can record and analyze accurately up to 500 eye positions per second. The system works by means of capturing and processing the reflections of a low-level beam of invisible infra-red light shone onto the eye. Multi-element arrays capture the image of the eye and digitize the information, which is then processed in real time by a fast, dedicated signal processing unit. The difference in position between the ligh tre of the pupil reveals the instantaneous direction of gaze. Developments by the IBME team have significantly increased the speed of signal processing in addition to enhancing accuracy of eye position estimates. Eizenman believes that "these improvements make our eye-tracker very effective in monitoring the large G-force environment where the pilot tends to make larger eye movements because of contraints which exist on movements of his head". In a new generation of aircraft simulators, under development by CAE Electronics Ltd. of Montreal, a head tracker which tells the direction of the pilot's head is mounted on top of the helmet. The eye tracker is mounted on the front of the helmet, and is ll exactly where the pilot's eye is fixating. Frecker said that "successful integration of our eye tracker into the novel helmet-mounted CAE flight simulator would result in a new generation of simulators that would likely replace the current large domes and cumbersome video display units." Initial tests of the integrated system will be carried out in collaboration with CAE Electronics at Williams Air Force Base in Arizona later this year. Contact: Moshe Eizenman (416)978-5523 Richard Frecker (416)978-2236

Analyse The Tourism Industry In Malaysia Tourism Essays

Analyse The Tourism Industry In Malaysia Tourism Essays Analyse The Tourism Industry In Malaysia Tourism Essay Analyse The Tourism Industry In Malaysia Tourism Essay Travel and touristry is chiefly for diversion, leisure or concern intents. Tourism is really of import to the cordial reception industry as it is the chief support of the gross is lodging. From the position of the touristry industry, every section of the industry depends on the others to supply a complete and satisfactory travel service and experience to travellers. Therefore, these people are considered to be tourers ; on a visit that is impermanent and short term. These organisations include to hotels, theoretical accounts eating houses and resorts. There are two types of touristry which is domestic touristry and outward touristry. Domestic touristry is like those people which take vacations or a few yearss trip in their ain state. Example like a household is visit to another portion of the state. Outbound touristry is like those people which travel off from place and visit to another state for leisure or concern intent. However, no affair what type of travel it is, these people wi ll ever stop up in saying in housing. Answer for inquiry 1 In the present, the touristry is extremely diverse and disconnected. It economic system passes all facets of the cordial reception industry that serve for the client demands and wants. From the position of the touristry industry, every section of the industry depends on the others to supply a complete and satisfactory travel service and experience to travellers. This mutuality shows the complexness of the travel and touristry industry, and provides a challenge for directors. Imagine that we do non understand as the hereafter directors, the relationships among all sectors of the travel and touristry industry, we can non foretell the alterations in other parts of the industry and the ripple effects of these alterations on the full industry. There is besides a major ground why a travel and touristry class is normally offered to hotel and restaurant direction big leagues. This is the fact the apprehension of the travel and touristry as a functional system can better the pupil s positions on the industry in order to analyse tendencies in the industry better and develop aggressive and successful cooperation with other sectors of the industry. Other than that, in the modern sense of the universe to go until the agricultural revolution occur when worlds settled husbandmans and built their lasting places. In other major historical events would hold been outlined and debated since the agricultural revolution. In add-on, a assortment of touristry subjects, authorities, and if you have studied in industrial applications in the countries of great societal topographic point where this cultural, economic, because of the impact on the environment. The touristry industry after the Second World War the planetary industry and became a leisure experience. Modern mass touristry is a major first 50 old ages of the 20th century, technological, economic, societal and merged as a consequence of a series of alterations. Technically, the debut of commercial jet travel has become faster and more comfy. Car, which means another advanced technological progresss in the history of travel. Attractions, transit systems, there are several ways to develop touristry industry in Malaysia is the Ministry of touristry publicity. Plays an of import touristry attractive force is the function of touristry development in Malaysia Program rating and development of touristry resources will increase the attraction of the fin ish, to make a good image as the end. There are three touristry attractive forces in the natural landscape, cultural and historical attractive forces and the chief facets of the subject park. Natural attractive force is normally made of natural admirations, and physical comfortss. Natural admirations are nationally or internationally recognized functions and dramatic physical belongingss in the mark country, such as: canons, rivers, mountains, waterfalls and etc besides being celebrated for its natural beauties, other physical installations, such as watercourses, forest, beaches, lakes, and others can be to the full exploited for touristry sight visual perception and recreational activities. Natural attractive forces entice travellers because of the beauty, relation and inspiration they provide. In assorted parts of the universe, our cultural and historical attractive forces can be found to be both touchable and intangible signifiers of human civilization. Concrete edifices and artefacts reflect the aspirations of certain groups of people that live in topographic points with cultural values. Intangible signifier, such as imposts and music are a manner of life revealed a peculiar society. Cultural and historic attractive forces, touristry attractive forces that appeal to the tourism`s cultural significances. By adding cultural and historical attractive forces are extended. They can be a impermanent event`s suspirations and lasting sites. Attractions lasting site can be based on touristry trial throughout the twelvemonth. These can include sites such as museums and historic temples. Otherwise, it has been staged for tourers, such as smoking to certain times of the Chinese New Year Parade in Kuala Lumpur impermanent event topographic point. Vanished civilisation cultural, historical attractive forces, about people and / entreaty to those that are inspired by modern-day or long acquisition. Natural, cultural or historical subject Parkss are magnets for finishs. They are the springs that pushed a big portion of humanity travel for centuries. Therefore, the Department of the touristry industry in Malaysia will be advancing these kinds of facets of the universe. Theme park amusement can besides be called unreal. Subject Parkss are developed specifically for touristry ingestion. In add-on, the subject Parks offer visitants a really thematic and travel experiences presented which is filled with merriment, emotion and exhilaration. Theme Parkss like Genting Highlands, Lost World and Sunway Lagoon are good known subject Parkss in Malaysia. Three were some new subjects for the park development in recent old ages. The Ministry of Tourism Industry in Malaysia must construct H2O Parkss in the subject Parks because it is one of the most dynamically developing amusement and H2O Parkss should be combined with slides and pools of H2O. Education and nationalism were besides of import i ssues of touristry development in recent old ages. By add-on, a chief of the industry concerns travel and touristry traffic in individuals by aeroplanes and rental autos. The motion of people off from their lasting abodes is facilitated by assorted conveyance manners. The development of conveyance systems has had a considerable impact on the altering landscape of the travel and touristry industry. The velocity and handiness are two specific parts that modern transit has made the addition in travel and touristry. Speed of motion is an of import factor in travel because of clip restraints on many travellers. With the debut of jet aircraft engine, the side by side trip was shortened to several hours. The high velocity of motion allows tourers to see many finishs in a comparatively short clip. Therefore, the Department of the touristry industry in Malaysia should supply these types of conveyance for people populating in Malaysia. The planetary air hose industry is a multibillion-dollar industry. Harmonizing to Boeing Company estimates the world-wide growing in air traffic over the following 15 old ages expected to be about 5.2 per centum per twelvemonth on norm. This rapid development of Malaysia commercial air power industry creates immense demand for airport substructure development, aerospace, and lodging and providing concerns in Malaysia. The publicity has become an progressively of import portion of any concern in this period. The intent of the publicity of touristry in Malaysia, to give messages about merchandises and services came to Malaysia in order to promote aliens to develop trueness to merchandises, frontward the message to people all over the universe have focused on. If they are willing to give some particular price reduction household who deserve non desire so much will now be possible to cut down a ticket for a vacation to Malaysia because of the purchase monetary value. Will assist to come and see hammering to win the circuit, fans can besides travel on circuit with them and follow them about. How to increase the touristry in Malaysia? Giving price reductions for vacations, price reductions for seniors and kids. Sometimes a household s parents or kids want to travel at that place to take on vacation with them is non possible because of the high monetary values of air tickets. Fragmented industry is really diverse to cover all the demands of concern people who are off from place get downing travel and touristry. All cordial reception concern, travel and touristry industry is an built-in portion. Common support, all sections of the industry in Malaysia, and so unite to organize one of the taking industries in the universe. Significant economic impact in the industry will go on to pull enthusiastic support from the community concerns and precedences around the universe. In add-on, the touristry industry is one of the universe s largest generator of occupations, authorities touristry bureaus, circuit operators, offers a broad assortment of calling chances such as travel agents. As seen in history, going deep and profoundly rooted in all civilizations around the universe. The demand for travel took ; delight alter the political, societal and technological tendencies. However, travel and concern activities are the chase of modern-day civilization will go on to turn quickly. Malaysia s touristry ministry, we are turning, disputing the industry to take part in, beckoning to take the industry in the undermentioned centuries, most of the touristry industry to develop the travel and touristry industry in Malaysia You must do an attempt. Decision The lower working category, so come on vacation to promote household, to let price reductions for flights of Malaysia. Along with a get downing point for flights to all clients that help to advance touristry in Malaysia. The tourers come on vacation with the childs and grandparents can non they afford a ticket because so many has been a job and they can frequently travel on vacation so they can non. Children and the aged get a price reduction on ticket monetary values tourers encourage tourers to come in for a particular price reduction. Give particular bundles for tourers, for illustration, and tour usher to assist you happen your manner. Give the best experience they can acquire the tourer. Question 2 What is felicity? What constitutes felicity for one and non for another Introduction What is happiness? Happiness is something everyone wants to hold. You may be successful and have a batch of money, but without felicity it will be meaningless. So we should understanding what felicity is will give us good land upon which to construct our treatments, at the same clip felicity besides representative the intent of life, the whole purpose and terminal of human being. ANSWER FOR QUESTION 2 What is the intent of life? It is to go happy. Whatever state or society people live in. , they all have the same deep desire: to happy. Yes, there are few ideals as hard to hold on as that of felicity. In our day-to-day life we constantly see felicity and sadness, but we are still rather nescient as to what felicity truly is. A immature friend of mine one time spent a long clip seeking to calculate out what was good luck, happy, particularly for adult females. When she foremost saw her by opportunity on it as a affair of more financially hedged or marry. ( The position into Nipponese society so the felicity of a adult female had been found merely in matrimony. ) But a expression at friends who were married proverb her, that matrimony did nt `t needfully warrants felicity. She saw twosomes who are passionately in love suffer strife shortly after their nuptials was. She saw adult females who had married work forces with money or position but fought invariably with their hubbies. Gradually she realized that the secret of felicity in constructing a strong inner ego that no survey or exigency could destroy were. They saw that felicity for everyone whether adult male or adult female non merely through formal instruction or wealth or of the matrimony. It begins with the strength to face and suppress one s ain failing. Merely so does it go possible to populate a truly happy life and bask a successful matrimony. She eventually told me: Now I can state with assurance that does nt ` t exist in the yesteryear or hereafter happy It merely exists in our province of life right now, here in the present, as we meet the challenges of day-to-day life . I would hold wholly. Are you enduring from hurting or you feel if you know the joy of his best. These things are non known to others. Great wealth, even though the adult male has won legion awards and acknowledgment of societal enduring indefinable yet, concealed deep in his bosom. On the other manus, the simple life entirely, adult females are non economically disadvantaged elderly ; the rise in my head every twenty-four hours, the Sun may experience joy and felicity. Happiness is non problem-free life, the strength to get the better of the job we have to walk the route. Like a life without a job. Trouble is ineluctable. However, the manner we experience, we rely on to react to our jobs. Buddhism teaches that felicity and sadness are the duty of each of our ain. Our energy energy or life force is the sum we are we are really the most of import factor in finding whether the content. True felicity is in our province of head is supposed to be found. This does non be across some distant mountains. It is within you yourself. How much you get off from yourself is non, delight attempt. And wherever you go, if you are weak, enduring will follow you. You have to dispute your failings, can `t alter yourself from within you do non happen felicity. Challenges confronting us in life, the rise in forepart of the climbers, you can compare a tall mountain. The musculus, reflecting weak and non equal preparation for those who are slow, every inch of the ascent will be filled with fright and hurting. The same mountain, but are strengthened by changeless preparation of the weaponries and legs, a thrilling journey for those who are prepared. At each measure up to the forepart, beautiful, you ll see a new position Happiness is to be found in the dynamism and energy of your ain life as you struggle to get the better of one obstruction after another. This is why I believe that a individual who is active and free from fright is genuinely happy. My instructor used to speak about two sorts of happiness- comparative and absolute felicity. Relative felicity is happiness that depends on things outside us: friends and household, milieus, the size of our place or household income. This is what we feel when a desire is fulfilled, or something we have longed for is obtained. While the felicity such things bring us is surely existent, the fact is that none of this lasts everlastingly. Thins change, people change. This sort of felicity shatters easy when external conditions alter. Absolute felicity, on the other manus, is something we must happen within. That we are neer defeated by the trial means that the province establishes a beginning of joy in populating life merely. Is this something we are losing what may be what happens around us or affair is maintained. Deep sense of joy, may be present in the interior ranges of most of our lives, it can non be destroyed by any external force. It is unlimited everlastingly. Happiness is comparative, based on comparing with others. We are happy with a new or larger house than your neighbours might experience this sort. However, the feeling, the minute they start to do alterations to miserable in their new add-ons. The sort of satisfaction is to be found in consistent and perennial attempt, so that we can state, Today, once more, I did my very best. Today, once more, I have no declinations. Today, once more, I won. The accrued consequence of such attempts is a life great triumph. One friend whose dramatic life proved this was Natalia Satz, who founded the first children`s theatre in Moscow. In the 1930s, she and her hubby were marked by Soviet Union`s secret constabulary. Even though they were guilty of no offense, her hubby was arrested and executed and she was sent to a prison cantonment in the frozen deepnesss of Siberia. What we should compare is non ourselves against others. We should compare who we are today against whom we were yesterday, who we are today against whom we will be tomorrow. While this may look simple and obvious, true felicity is found in a life of changeless promotion. And the same concerns that could hold made us suffering can really be a beginning of growing when we approach them with bravery and wisdom. Decision Today, this universe is the desire to be happy all the people, and even of people immature and old. All people want their life with all people with meaningful intent. It is in our day-to-day lives, we experience happiness and unhappiness every bit good as ever, we is still rather nescient as happy. Happiness is non problem-free life, the strength to get the better of the job we have to walk the route. Otherwise, true felicity is found in it, doing our province of head it. This does non be in the distant mountains across several. If we are weak, even where we go, our agony will follow. If you do non dispute our failings, we change ourselves within it can non happen felicity. Happiness is baronial and best in the universe is pleasantest. Therefore, we are happy every twenty-four hours, we need to bask life every clip.

BSBOHS503B Assist in the design and devlopment of OHS participative Essay

BSBOHS503B Assist in the design and devlopment of OHS participative arrangements - Essay Example In this paper the conduct of a health committee is evaluated in terms of building a committee that is functional and effective. A constitution to govern the working of the committee is proposed, and dispute resolution in the committee in terms of the work, health and safety (WHS) management model is discussed. In the case study given, a health and safety committee has been operational for six months but has been ineffective due to a clash of personalities. As the workplace safety officer, there are various steps I can take to improve the efficiency of the committee. The first step will be reviewing the committee’s constitution to ensure that it is aligned with the organization’s vision. The committee members will be educated on the purpose of the committee. The junior workers in the committee will be taught that the health and safety committee is not another avenue for them to voice their wishes to the management. Rather, it is a forum to generate solutions for the health and safety problems at the workplace. The second step will be improving the cohesiveness of the committee through team building exercises. Team building and workplace cohesiveness reduces workplace bullying incidences which are impact negatively on workplace health and safety (Chan-Mok, Janet, Carlo and Chr is 3; Keashly and Branda 423). The agenda of the committee meetings will be clearly communicated to the members. This will avoid deviation from the relevant issues during the meetings and preempt the witnessed personality crash. Finally, the committee will be setting practical goals and steps to achieve these goals. An evaluation procedure will be available in order to determine if the goals are being met in a timely manner. The health and safety committee is tasked with coordination of health and safety related activities in an organization. The committee should be representative of all stake holders who are affected by the health and safety systems implemented by

Debating Globalisation Essay Example | Topics and Well Written Essays - 1750 words - 1

Debating Globalisation - Essay Example (Globalization, n.d.) Increasing international trade and financial flows are integrating the economies. Some countries integrate with the world economy more aggressively than others. For small economies openness to the world economy allowed flow of goods and services and capital inflow that the domestic economy could not provide. In some cases the geographical area of the country can also help in increasing globalization of the economy. The multinational companies acted as the key initiator of globalization. The process of globalization gained momentum in the second half of the 20th century and significantly developed over the last 20 years (Schlamberger, n.d., Kearney, 2001, pp 56-58: OECD, 2005, p.16). In order to understand the true meaning of globalization one needs to study the changes in a country’s environment due to the phenomenon and measure it properly to justify the changes. Measurement of globalization Globalization cannot be directly measured but its level might b e gauged through different indicators. The method is quantitative and statistical which conducts classification based on globalization of operations. Traditional use of statistics will not be enough in measuring the magnitude and the extent of globalization and needs to be supplemented with other indicators. Many new concepts are developing in the global economy, which needs to be defined properly and added to the existing tools, for constructing a suitable analytical framework. Moreover the existing International Standards need to be adjusted for considering the new developments through globalization. The two group properties that need to measure are the degree of globalization and the result of globalization. (Schlamberger, n.d.; Vujakovic, 2010) Globalization needs to be measured in three broad dimensions, the social, political and economic aspects (Globalization, n.d.). The elements of globalization are increase in the free movement of goods and services across borders, increase in the unrestricted flow of capital and labor across national boundaries and also transfer of technology. Along with this globalization also include flow of different ideas, information and culture from one county to the other. Though globalization is not a new phenomenon and has its roots in the industrial revolution of the east but the present wave has been initiated by a set of new factors like deregulation of financial services in many economies, emergence of modern and smooth transport and communication system and the development of the emerging economies most importantly. The transition in the field of information technology and the third generation revolution of technological changes boost the process of globalization as a whole. The key measures of globalization are firstly the share of the international trade in the total gross domestic product of the country; secondly the inflow and outflow of foreign direct investment in the country, and the inflow and outflow of portfol io investment as measured by the percentage share in GDP. The third indicator is the cultural measure of globalization indicated by the percentage of international tourists in the total population of the country and the measurement of income from tourism as a share of the total income of the country. The record of the international telephone calls of a country along with the percentage of Internet user of the country in the total popu

School Reformation Policies Essay Example | Topics and Well Written Essays - 1500 words

School Reformation Policies - Essay Example First of all, I would suggest smaller classes with more and highly qualified teachers for disabled students and those with special needs and backgrounds. In addition to reducing the number of students per teacher, more care and time must be afforded to these groups. This would help even the achievement gap that has not been emphasized on at all, in NCLB. For example, both blacks and whites are seen to be equally improving and so the gaps are still left unchecked. This must not be the case, and extra attention must be paid to correct this gap. Special students like the blind for instance, during examinations, must have provisions to have questions read out to them.Secondly, I would urge for measurement of improvement and academic progress per student as opposed to the collective assessment under NCLB. It is possible for schools to retain high ratings even at high achievement gaps since NCLB only measures average school performance. Achieving 100% same-state standards by 2014 as is env isioned in the Act is unrealistic, to say the least as many variables are often involved especially in disability cases. This is a simple illusion.Carris’ Ghosts of No Child Left Behind (2011) further states that the NCLB Act requires only a bare minimum of standards to be met without specific attention to any further improvement beyond the set minimum. It simply groups everyone together as one and discourages any personal talent and improvement in the long run, as all students are simply to be above average. Gifted students are awfully maligned and their enhancement disregarded hence. In some states like Michigan, state funding for gifted and talented programs was cut by up to 90% in the year after the Act became law. I am also of strong opinion that cutting funds for ‘failing’ schools only serves to hinder even more, any chances they have to regroup and improve performance potential. On the contrary, it is my belief that such schools

Blue Dart Express Limited Management Essay

Blue Dart Express Limited Management Essay On a late summer afternoon in May 2012, Ketan Kulkarni, Vice President and Head of Blue Darts Marketing, Corporate Communication Sustainability division, was working on the proposed future plans of marketing strategy in his plush office in Blue Darts head office in Mumbai. He had  a meeting scheduled with Tulsi Mirchandaney, Managing Director and Accountable Manager for Blue Dart Aviation to discuss the companys plans to address the intense competition and growing challenges of the express industry. Looking outside through the clear windowpanes, Ketan thought about the Blue Darts remarkable journey. Blue Dart was the leading express company in India, engaged in door to door pick up and distribution of packages, documents, and shipments in India and overseas. In its first decade since its inception in 1983, Blue Dart became the dominant player in the courier industry and in the next decade it surpassed all the competition and became South Asias premier number one express company in air and integrated transportation, distribution and logistics. In India, Blue Dart was one of the very few companies providing an array of services in air express (both domestic and international through DHL), air freight, ground and charters. It was a one stop solution for any logistical requirement. Blue Dart enjoyed a 45.9% market share and gained a significant increase in both, volumes and value. In the ground segment, the company garnered a market share of 12.4%. Blue Dart not only offered secure and reliable delivery of consignments, but also managed to deliver impressively on the financial front with the help of its widespread infrastructure network and aggressive growth strategies. Rs.10 billion in annual revenues was a remarkable landmark for any logistics company. Blue Dart managed better, leaping over the 11-digit barrier to record Rs. 14.89 billion in top line during FY2011. The company was established with a vision to be the best and set the pace in the express air and integrated transportation and distribution industry, with a business and human conscience. Through high quality and professional service, and use of sophisticated technology, the company was committed to meet and exceed customer and stakeholder expectations profitably. With a dedicated air and ground network optimized by cutting-edge technology, Blue Darts core competence was in the business of superior express delivery services, maintaining reliability levels of 99.96%. A people-first company, Blue Dart continued to deliver value to its stakeholders through its people philosophy and corporate governance, based on distinctive customer service, business ethics, accountability and profitability. The marketing strategies were of utmost importance for any company to become and to remain a market leader. Tulsi Mirchandaney summed up the marketing strategy of Blue Dart in India and outside in just five words Care Customer Addition, Retention Empathy. However, against the backdrop of volatile economic scenario of 2011, global economic crisis, and companys declining profits in 2012, the company needed strong and aggressive marketing strategies to hold and further strengthen its market leadership position. Ketan came out of his reverie as thought of the future marketing strategies and wondered whether the will be enough to meet 2012s target, especially when the profits declined by around 20% in the first quarter of 2012. With a cup of strong coffee in one hand, he started thinking about how to make Blue Dart grow faster and which marketing plans the company should implement to handle the multiple challenges. Company History In November 1983, three young entrepreneurs, Clyde Cooper, Tushar Jani and Kushroo Dubash identified tremendous opportunities in Indias expanding exports market and came up with an idea of delivering small packages and samples. On that date, Blue Dart was established in a space of 200 square feet under a staircase, with a capital of Rs. 30,000. Grit, determination and hard work propelled the young company from sorting and delivering a few dozen packages outside Mumbai airport on that first night, to handling nearly 200,000 shipments each day. In a study conducted by Dhristi Strategic Research Services in 2007, Blue Dart emerged as one of the strongest brands in India with amongst the highest top of mind recall. In its early days, Blue Dart forged ties with Gelco Express International, UK to introduce an international air package express service from India and thus enhance the value offered to its customers. In 1993, foreseeing the potential in India, Blue Dart decided to shift focus from international to domestic service. It went on to become the first Indian courier company to conceptualise domestic on-board couriers with a guaranteed 10:30 am delivery to major metros. In 1994, the company went public with an IPO of 2.55 million shares. In the same year Blue Dart launched its multi-modal, premium package delivery service DartApexà ¢Ã¢â‚¬Å¾Ã‚ ¢ (Air Package Express) and COSMATIIà ¢Ã¢â‚¬Å¾Ã‚ ¢, an advanced tracking and ERP system that redefined the industry. In that year, too, Blue Dart Aviation, a 100% subsidiary of Blue Dart Express, was incorporated and became the first private company to receive government approval for the operation of cargo aircraft in the country. In 1995, Blue Dart Aviation acquired two B737 aircraft and developed SMART (Space Management Allocation Reservations and Tracking), the first cargo reservations systems in India. The following year, Blue Dart launched the first jet express airline and also became the first express company to receive an ISO: 9001 Certification. 1995 was also momentous because in that year Blue Dart crossed Rs. 100 crore (US$ 25 million) in turnover for the first time. 1997 witnessed the launch of domestic charter operations and the signing of interline agreements with international airlines for distribution of bonded cargo within Blue Darts network. Today, these have extended to 26 operators and include bonded warehousing and transhipment facilities. In 1998, the company developed Indias first Load and Trim software for its aircraft, reducing handling time by 80%. In 1999, Blue Dart moved to its state-of-the art administrative, technology and operations Super hub and Headquarters, the Blue Dart Centre, in Mumbai. In 2001, a third Boeing 737 was added to the Blue Dart fleet. A year later, Blue Dart entered into a sales alliance with global leader DHL Express Worldwide. Today, DHL owns 81.03% stake in the company. In 2002, Blue Dart was re-certified to the new global ISO 9001 2000 standards for Design, management and operations of countrywide express transportation and distribution service within the Indian subcontinent and to international destinations serviced through multinational express companies. Blue Dart was one of the few Indian companies to get this certification. Blue Dart signed a pioneering alliance with the DHL Worldwide Express, the leading international air express company. Blue Dart also crossed 1,00,000 shipments per day. The fourth aircraft joined the fleet in 2004 and Blue Dart became the first private operator in India to receive approval from the Director General of Civil Aviation (DGCA) for undertaking heavy maintenance D-checks on its aircraft. Two B757 freighters the first in the Indian skies joined the Blue Dart fleet in 2006. In an effort to fortify its unique capability of offering the entire gamut of end-to end distribution solutions, Blue Dart launched its ground express service Dart Surface Line in September 2007 and inducted the third B757 freighter. In 2008 Blue Dart completed 25 years of facilitating trade and commerce. The land mark year also saw the launch of twenty-five new products and services to its customers. By 2011, Blue Darts infrastructure comprised a fleet of three Boeing 737 and four Boeing 757 freighters operating each night to the 7 main metros in India and offering a revenue payload of over 370 tonnes per night. It owned a flotilla of over 6,272 vehicles, 365 facilities including 7 aviation hubs and bonded warehouses, 56 domestic warehouses and 12 express hubs delivering excellence. [1] Current Operations Blue Dart offered express air and integrated transportation, distribution and logistics services and as part of the DHL Group accessed the largest and most comprehensive express and logistics network worldwide. It offered an entire spectrum of distribution services including international air express, freight forwarding, supply chain solutions and customs clearance. Blue Dart was the largest player in the domestic segment of documents and non-documents with 26 per cent market share in terms of tonnage. In terms of overall (domestic plus overseas) market share, it was the largest express company in India with a share of about 45.9 per cent. The company had a turnover of Rs 14.89 billion in 2011 and has had an annual growth rate of about 50 per cent while the industry growth rate has been hovering around 35 per cent. The company had showed a tremendous growth over the years (see Exhibit 1 and 2). The core function of Blue Dart was the physical transportation of a shipment from its origin to the destination which was performed by the operations department. The distribution system followed the hub-and-spoke concept, i.e., shipments picked up at a particular origin location were transported to the nearest hub, which in turn routed these shipments to the hub to which the destination location was attached. The destination hub routed the shipment to the specific destination location where the staff delivered the shipment to the consignee. (see Exhibit 3) Blue Dart offered secure and reliable delivery of consignments to more than 35,900 locations in India and to over 220 countries and territories worldwide through its integrated air support and ground network group company DHL Express. In 2011, Blue Dart operated through 1,342,677 sq. ft. of facilities and carried over 988.5 lacs domestic shipments and over 8 lacs international shipments weighing over 423,000 tonnes. Administratively, the company was organized into regional centers at six major cities namely, Ahmedabad, Mumbai, Delhi, Chennai, Bangalore, and Calcutta. Each regional center was responsible for a number of branch locations under which there were area locations. The company currently had around 7,800 employees. Each major branch had a team of operations personnel who managed the entire network, transportation and tracking of shipments. They also liaised with airline and transportation agencies and took care of scheduling out-bound couriers. Other responsibilities of the operations department included routing, sorting, security checking, fleet management, and customer billing. Commercial functions like finance and marketing were centralized at the head office in Mumbai. Its international out-bound gateways functioned at Dubai, Singapore, London, and Mumbai. The in-bound international gateway was at Mumbai which received packages from London, Frankfurt, Singapore, and Dubai. [1] -Company history was referenced from Blue Darts 19th annual report. The Express Industry Structure, Overview and Developments The express industry was a key enabler in facilitating trade and commerce because of the time-sensitive nature of most goods and the increasing demand for reliability, efficiency and speed. The Indian logistics industry was growing at a steady pace. The growth in this industry was largely driven by increase in trade, government policy reforms, increased spending on infrastructure, and the overall economic growth driven by the domestic consumption and growing affluence. The demand for express services was surging with each passing year and customer expectations had also risen tremendously. Today, the Indian express industry provided integrated, value-added, time-bound, door-to-door delivery of documents, parcels and merchandise. It supported industries such as electronics, telecommunication, IT, banking, retail, auto-components, textiles and apparels, gems and jewellery and pharmaceuticals. Moreover, with India recognized as an outsourcing destination, manufacturing sectors such as textiles, automobiles and pharmaceuticals were likely to witness increased activities in the medium to long term. In order to maintain competitiveness, companies operating in these industries were expected to outsource their logistics requirements to third-party logistics service providers and concentrate on their core-competency of manufacturing and marketing. Furthermore, the opening up of banking, insurance, telecom and retail sectors had increased the demand for value-added express services in India, as these were major user industries. The courier industry in India has expanded its horizon to provide a wider range of services. Whereas it started initially as a service provider for the document and samples demand of industry, it is now viewed as an important part of the supply chain for industries, which demand speed, reliability, security and just-in-time distribution. Though this market is still in its infancy in India, it is growing. Tulsi Mirchandaney, Senior Vice President, Marketing and Projects According to Anil Khanna, Managing Director, Blue Dart, the growth in the Indian economy and the overall economic scenario, fuelled primarily by domestic consumption, was promising. The Indian economy was poised to record growth between 7 and 8 per cent in the financial year 2012. The Indian organised Express Market (a part of the overall logistics market) was about 4500 crores2 and expected to grow at a CAGR of 17%2. This included organised Air Express and organised Ground Express which for 2011 were estimated at 2000 crores2 and 2500 crores2 respectively. This in itself was a strong indicator of the potential of the express industry. However, the logistics industry in India still remained largely unorganised and fragmented. The industry faced several challenges like high logistics costs, inadequate infrastructure, capacity constraints, low usage of technology, complex tax laws, over regulation, policy issues and lack of skilled manpower. The need for the highest levels of efficiencies still existed. Competitive Edge: Building IT for Business Agility Blue Darts Information Technology (IT) infrastructure remained one of its key differentiators and enabler to values. Blue Dart was always in the forefront of technology and its technology innovations played a key role in the companys premium positioning and in bringing global standards to the Indian customers doorstep. 2 AT Kearney figures from Blue Darts 2011 Annual report Blue Dart became an important part of the supply chain of many companies by providing integrated services. Blue Darts in-house IT team constantly developed technology solutions over the past seventeen years. Such has been the ramifications of these offerings that more than 79% of Blue Darts regular customers used it actively. These Home grown innovations included COSMAT IIà ¢Ã¢â‚¬Å¾Ã‚ ¢ (the tracking and ERP system), TrackDartà ¢Ã¢â‚¬Å¾Ã‚ ¢ (monitoring shipment status), MailDartà ¢Ã¢â‚¬Å¾Ã‚ ¢ (tracking shipments over e-mail), InternetDartà ¢Ã¢â‚¬Å¾Ã‚ ¢ (memory bank for shipments), PackTrackà ¢Ã¢â‚¬Å¾Ã‚ ¢ (tracking software for medium and large customers), ShopTrackà ¢Ã¢â‚¬Å¾Ã‚ ¢ (tracking and CRM tool for e-business portals), ImageDartà ¢Ã¢â‚¬Å¾Ã‚ ¢ (online download of proof of delivery challans/documents, to speed up the customers bill process, waybill issuance capability, customer directory, data upload and download of tracking information). The company also provideed econom ical packaging that facilitates customers sending documents at a price that includes door-to-door delivery service within India. These innovation solutions enabled the weaving of thoughtful information management to the logistics business. With this advanced technology support Blue Dart delivered door-to-door to over 13,000 locations in the country with an in-house team of experts to handle inter-state regulatory requirements. Quality levels were at 99.95% and were monitored daily. Blue Darts IT infrastructure strengthened both its business and marketing strategies. Blue Darts Marketing Strategies In 2011, a combination of new product launches and tactical shift in focus across sectors helped Blue Dart register growth in spite of an overall slowdown in the economy. For instance, in order to lessen the impact of the slowdown in client verticals such as automobile and realty, it consciously improved its focus on sectors such as health sciences and the spare parts segment of the auto sector. It also built on its exposure to high-growth segments such as e-commerce and SMEs and high-growth potential Tier-II and III cities in 2011. These put together helped the company grow its revenues and profits by about 34 per cent and 42 per cent by the end of quarter 3 in 2011. On various other fronts the company provided multitude marketing strategies. Product Offerings A combination of the right product mix helped Blue Dart build strong brand loyalty over the years. Blue Dart offered a range of products and services that could be customised to address individual requirements. Blue Darts core business was domestic door-to-door and integrated (air and ground) express distribution. Each product has been developed with a customer centric approach. The products were proficiently supported by cutting-edge technologies. Blue Dart offered express, air freight, ocean freight, supply chain solutions, customs clearance, project handling, freight forwarding, and charters through its synergies with the three DHL Business Units DHL Express, DHL Global Forwarding and DHL Exel Supply Chain. Air Express segment included Time Definite Solutions (Domestic Priority 1030, Domestic Priority 1200, Dart Apex 1200) and Day Definite Solutions (Domestic Priority, Dart Apex, Dart Surfaceline). Packaging Solutions included Express Pallet, Smart Box Ground Express, Time Definite Delivery, etc. The company also offered Cargo Solutions like Airport to Airport, Interline and Charters besides offering Festive Solutions and discounted Student Solutions. A recent addition to Blue Darts product portfolio was Import Express. It was the only service of its kind in India and offered door-to-door facility for importing shipments from over 200 countries. Services Blue Dart presented a range of services: Domestic Priority a fast reliable service for non-commercial documents and non-documents. Dart Apex supported reliable commercial distribution and supply chain requirements. Dart Surface line a reliable and secure surface option, and an airport to airport option included charter of aircraft for large volumes and urgent shipments. (See Exhibit 4) Blue Dart also offered some of the best services such as free computerized proof of delivery, real time tracking, regulatory clearance and free pick up from the location of the customer. The most used features were real time tracking and Money Back Guarantee (MBG) offered on specific shipments. The express services offered domestic priority for non-commercial domestic documents and small packages under 32 kilos. Freight services included domestic, early morning airport-to-airport deliveries to the seven metros in India. Charters also offered carriage of urgent and large volumes to eighteen airports in India and four international airports in the region. Solutions like Temperature Controlled Logistics (TCL), Dart Surfaceline Plus, Point to Point (P2P) and a host of value added services like Demand Draft on Delivery (DOD), Freight on Demand (FOD), Freight on Value (FOV), Cash on Delivery (COD) etc. represented tailor made services for specific industry requirements. Blue Dart was in the process of rolling out several sector-specific, innovative products and services in a phased manner, in line with specific needs and requirements of different industries like BFSI, Pharmaceuticals, IT, Consumer Durables, FMCG, Automotive, Retail, Textiles, Telecommunications etc.. These products provided the much-required flexibility to the shipper and consignee. Pricing Though Blue Darts offerings were known to be reliable, these were offered at a very high price compared to that offered by competitors. In India, where huge section is of middle class buyers, this pricing strategy was awkward. However, Blue Dart maintained the view that for customers, aspects like service quality, consistency, responsiveness and reliability were of paramount importance because these dimensions directly impact their business outcomes. Blue Dart held the view that when customers experience optimal service with Blue Dart, they do not mind paying a premium for these products. Connecting with Customers In such a competitive industry, Blue Dart tried to differentiate itself from its competitors by establishing its core focus on strengthening customer relationship and on making more effective use of the 4800 plus vehicles as mobile touch points. Blue Dart always made a conscious effort to create a bond with its customers. Perhaps, because of this, the brand became synonymous with value, quality, speed, efficiency, responsiveness and service excellence. Blue Dart constantly rolled out promotions for its customers to keep them updated on our various offerings. Blue Dart successfully ran a loyalty programme Blue Points: Returns to provide customers value while making shipments through Blue Dart. As part of the its ONE-RETAIL focus, the company regularly ran a retail store promotion drive across the country. Company had a dedicated team of specialists who provided the expertise for customs as well as regulatory clearances at all States within the country, to support seamless service to the customer. Customers Growth Strategy Blue Darts strategy was to focus on existing customers to scale up existing relationship. There was also a special focus to select high potential clients by offering them a lot more than what Blue Dart has been traditionally offering them. This strategy was expected to not only lead to revenue enlargement, but also to give an army of loyal customers. Positioning Blue Darts positioned itself to offer a consistent, premium, standardized quality of service. Its competitive advantage was driven by its extensive and consummate domestic network which was linked by some of the most advanced communications systems. Blue Dart was focused on carrying packages as its prime business, rather than as a by-product of a passenger airline. Blue Dart also had a dedicated self-sustaining aviation system to support its services, with its own bonded warehouses, ground handling and maintenance capability. Blue Dart envisioned itself as a warehouse in the sky creating a niche segment in supply chains that demand critical deliveries, low inventories and reliable and timely distribution. Blue Dart was now strategically positioned as the market leader in the air express segment. It also had an aviation system with an in-house ground handling and maintenance capability with stringent security and quality norms. Blue Dart also invested extensively in technology for integration, data flow and customer software for greater customer convenience and efficiency. Promotion Blue Dart was not known to be aggressive advertiser, but as aggressive marketer. Blue Dart tried to focus on the total customer experience the brand tangibles such as the retail outlets (service counters), vehicles, signages, etc, as well as the intangibles at the customer contact point. The company emphasized that the personal touch was essential and thus has also strengthened the areas of customer care centres. Blue Darts promotion method was to create a strong emotional connect with customers, in order to achieve brand strength, saliency and equity. Even its TV commercials and print ads tried to connect emotionally with customers. Blue Darts prime communication vehicle was PR land direct mailers, with support from a large sales force across the country to directly engage the customer. New Areas for Business Growth and Expansion Blue Dart already had an aggressive market share plans which aimed to increase its market share both in air and ground express divisions. For this, Blue Dart would have to grow faster than the industry. Blue Dart already identified some growth levers. One of these was adding lot of new products. The company has been regularly introducing new products such as the latest Go Green carbon neutral service and it intends to continue. The other growth lever was the sectorial focus. There were certain sectors that do not get impacted by a slowdown sectors like health sciences and the spare parts segment of the auto sector. Demand for streamlined supply chains from the auto, pharma, hitech and retail sectors was expected to drive growth. Thus, Blue Dart was detecting opportunities and offering sector specific solutions, which had and would help in the overall growth strategy of the company. Third, Blue Dart was focussing on verticals which were high-growth verticals like e-commerce. The company also identified small and medium enterprises (SMEs) as another growth lever and efforts had been underway to tap this segment across industry verticals, aggressively. For a company, which has probably focussed more on our large customers, SMEs thus offered an tremendous opportunity. Finally, the company was looking at geographic expansion. It intended to reach out to those towns and cities where it currently did not have any presence. Also, prior to this, in smaller cities, the company was more focussed on the in-bound side. It then realised that a lot of these tier-II and tier-III cities had a lot of out-bound potential. These provided additional opportunity for business expansion. Blue Dart planned to continue to focus on transit time improvements, and strengthening channels to gain further market share. Looking ahead Blue Dart has been able to differentiate itself and achieved scalability due to its focus on technology right from the early stages of its business. It was reflected in the way the company moved its products, in a manner which was more cost-effective, more fuel-efficient and more environment friendly. However, Blue Dart Express net profit declined by 19.47% in the March 2012 quarter. Blue Dart faced the challenges of increase in fuel cost, inadequate infrastructure, and increasing competition. But of these the biggest challenges was Infrastructure of both air and surface. Space at airports, airside and city-side infrastructure were often inadequate. In addition, parking bays, air-side/city-side access and traffic congestion adversely impact costs as well as service quality. Air express companies were constrained by the sizes of the facilities at the airports, as they have remained the same while the loads have increased many folds. It was estimated that though 70% of the freight transportation in India was through roads, National Highways constitute merely 2% of the total road network in India. Fuel prices were also a concern. In an industry, where space was a highly perishable commodity, any disruption in services, due to either natural disasters or manufactured reasons, affects us adversely, as the days capacity inventory was lost forever. Ketan Kulkarni, Vice President and Head of Blue Darts Marketing, Corporate Communication Sustainability division In addition to above problems, Blue Dart also faced a tough competition from multiple courier service providers. (See Exhibit 5 and 6) Thus an aggressive business and marketing strategy was the need of the hour. How Blue Dart would rise to the occasion remained to be seen. With this thought, Ketan Kulkarni was wondering how Blue Dart can further differentiate itself and would remain a market leader in the coming years. Exhibit 1 Financial Summary of the last five years (Rupees in Lacs) (Source: Blue Darts 2011 Annual report) Particulars 2007 2008 2009 2010 2011 Particulars 2007 2008 2009 2010 2011 Income from Operations 80,872 97,446 90,523 1,14,741 1,48,960 Other Income 311 1,071 760 532 2,426 Total Income 81,183 98,517 91,283 1,15,273 1,51,386 Total Expenditure 68,083 84,935 80,150 99,324 1,31,338 Operating Profit 13,100 13,582 11,133 15,949 20,048 Interest (Expense) 40 50 55 1 0 Gross Profit 13,060 13,532 11,078 15,948 20,048 Depreciation 2,403 1,657 1,776 1,922 2,160 Profit Before Tax 10,657 11,875 9,302 14,026 17,888 Taxation 3,664 4,140 3,232 4,589 5,664 Profit After Tax 6,993 7,735 6,070 9,437 12,224 Equity 2,376 2,376 2,376 2,376 2,376 Reserves 29,354 36,811 42,605 51,765 63,438 Gross Fixed Assets 25,692 28,562 30,036 32,544 39,326 Net worth 31,730 39,188 44,981 54,141 65,814 Book Value 133.72 165.15 189.57 228.17 277.37 ROCE (In percentage) 37.13 33.63 22.24 28.3 29.83 Exhibit 2 Income and Profit trends from 2007 to 2011 Exhibit 3: Shipment Movement from Pick up to Destination Exhibit 4 Services by Blue Dart Domestic Priority 1030 A guaranteed door-to-door time definite delivery of shipments by air the next possible business day by 10:30 hours, targeted at time-critical business-to-business needs. Domestic Priority 1200 A guaranteed door-to-door time definite delivery of shipments by air the next possible business day by 12:00 hours, targeted at time-critical business-to-business needs. Dart Apex 1200 A guaranteed door-to-door time definite delivery of commercial shipments by Air that require regulatory clearances and specialized handling on the next possible business day by 12:00hrs, targeted at time-critical business-to-business needs. Dart Surfaceline Blue Darts premium ground express service provides economical, door-to-door ground distribution solutions. Smart Box A convenient door-to-door service for cargo in two sizes 10 kilos and 25 kilos, available on air and ground express modes Smart Truck An intelligent pick-up and delivery vehicle that combines a number of innovative technologies including a route planner. Exhibit 5 Competitors TNT Express: TNT Express is the key leader not only in the Indian market, but also in the international market in the sector of global express services. They ensure timely and safe delivery of parcels, freight and document

A Reality In Fiction Essays -- essays research papers

In A Tale of Two Cities, Charles Dickens contrasts the Manettes’ life during the French Revolution in both London and Paris. The story follows them throughout the trials of the Reign of Terror in Paris, to the safety and security of London. He also compares the cities themselves, one being overrun with poverty and oppression, and the other being safe and economically sound. He shows the differences in the quality of life in both cities, while developing a love story in which the lives of the characters are twisted within the French Revolution. In France before the revolution, many changes had been made to help the country, but the Deficit of Revenue was not one of them. Many of the aristocrats and clergy were exempt from paying taxes, yet the poorer citizens were taxed heavily to make up for it (Carlyle vii). Louis XIV gave the upper class special power and privileges and ultimately caused France to weaken (Wright 31). Soon the common people were poor and starving. France had been suffering inflation for years; therefore, the government tried to tax the upper classes, but they refused to pay since they had been exempt for so long. Soon after, France endured many hardships, including drought and famine, and France became even poorer (Wright 31). In order to reform the financial status of France, Louis summoned the Etates-Generaux, who had not met since 1614. The Etates-Genereaux, or the General States, was a representative assembly that dealt with the matters of the state. It was made up of three groups: the church, the ari stocracy, and the remaining ninety five percent of the population (Wright 33). On July 14, 1789, the French Revolution officially began by the storming of the Bastille. The reason the Bastille was attacked was because it was seen as a symbol of the King’s power (Wright 34). This led to ten years of attacks made upon the privileged because of the abuses the common people felt from the ruling classes. Soon after the Bastille was taken, many other outbursts and riots occurred in France. Many aristocrats’ chateaux were burned, and this era of violence became known as The Great Fear (Wright 33). Many aristocrats and clergy fled the country in fear of being beheaded (Wright 34). Louis was put on trial as a traitor and was executed on January 21, 1793. Many people led revolts and provided the revolutionary ideas that the upper classes feared... ... but his future was clearly in England with his daughter and son-in-law (Kiran-Raw). The harsh conditions of Paris in the story were extremely realistic compared to the actual revolution. The people of Paris were starved and worked to death. They had to work more than they should have had just to pay what the government taxed them. However, in the story, all the revolutionaries were more violent than some of the real revolutionaries. Although there were violent ones, others were also people that had revolutionary ideas and views that could have helped the situation. Those people ended the true revolution.   Ã‚  Ã‚  Ã‚  Ã‚  A Tale of Two Cities is undoubtedly a realistic, yet fictional account of the French Revolution. Dickens compares and contrasts the lives and events of both London and Paris in a very accurate manner. His intentions of writing to enlighten people of the history of the revolution were successful, while also extremely entertaining. Although it has been thought that Dickens created the characters out of people he actually was associated with, they fit the story properly. The story truly digs into the heart of the revolution and the people it affected.

Case Study of Jetblue Ipo

Initial Public Offering is the first sale of stock by a private company to the public. The private company as an issuer entrusts an underwriter firm or a group of firms who help the issuer going public. IPOs are such a big deal because any investors who hold stock at initial offering price would make a significant capital gain when the company goes public. Numerous cases of new issues have proved that investors rise in value. Mr. Schwartz (1999) listed some advantages of going public in his article.For instance, going public could be easy for the company to access to capital market to raise capital via equity, debt or convertible securities. This also increases the liquidity of the company. Moreover, employees could be more motivated if company made some employee benefit policy based on stocks. At last, going public could increase company’s goodwill. Thus it would bring more business. In the case of â€Å"Jetblue airways IPO valuation†, the motivations of JetBlueâ€℠¢s management board also prove the advantages listed.Based on some analysis of the case, three clear disadvantages reflect going public does not seem such fine. Firstly, the initial and ongoing expenses of going public are costly and multifarious. For example, before going public, some prerequisites should be fulfilled, and those prerequisites are complicated and costly. After going public, the company is not a private company and has obligations to disclosure annually or seasonally audited reports to public. Secondly, the management would over focus on their share price, not operations.To avoid declining share price is their primary objective, so they may forgo some business plan that can bring long term benefits but cause share price decreasing in a short time. Thirdly, going public via IPO is unreasonably difficult, so it may experience a long time. During this period, the company may lose some other opportunities. To conclude, going public is a crucial decision for a company. So Jetblue also is concerned with it because there are some negative influences on its industry.Jetblue faced challenges after the terrorist attacks of September 2011. So it was not a good time to go public, but Jetblue still could make profits and grow aggressively. Going public could be considered. Meanwhile, there were fewer competitors in the IPO market. This factor could contribute to success of JetBlue’s issues. The valuation is very important for issuing securities. Too much overpricing may reduce investors’ enthusiasm. Too much underpricing may leave more ‘free money’ and damage the interests of the company. There are three main methods o price the stock price—free cash flow to equity method, free cash flow to firm method and relative valuation techniques. 1. FCFE FCFE method is not suitable for start-up companies or companies with an unstable capital structure. So in this case, FCFE method will be forgone. 2. FCFF FCFF is preferable for a com pany with a history of leverage changes, as its growth rate will be more stable than FCFE growth rate, which means FCFF is useful for startup companies without a stable capital structure. While valuating IPO, there are some key assumptions: terminal growth rate is 4. %; after 2010, the FCFF will constantly grow at a speed of 4. 5%. So the terminal value is 4,819. 24million. Here we can set the WACC (9. 21%) as the discount rate to calculate NPV. Share price is estimated around $30. To conclude, all the calculations are based on the Exhibit 13. The forecast in the exhibit 13 is reasonable because all assumptions are based on reality. The aircraft has limited seats, so the output per aircraft is unchangeable. The only way to increase revenue is to increase the ticket price. So the growth rate is the inflation rate is reasonable.Moreover, the length of forecast period is also reasonable. From 2009, the value of FCFF turns to be positive. 3. Relative valuation techniques. Relative valua tion is used to complement DCF analysis. The key steps are to identify similar or comparable investments and recent market prices for each and to estimate the initial value of asset. The method of comparable involves using a price multiple to evaluate whether an asset is relatively fairly valued, relatively undervalued, or relatively overvalued in relation to a benchmark value of the multiple.For this case of JetBlue, P/E multiple and EBIT multiple can be used as benchmarks to estimate the share price of JetBlue. P/E Multiple: In the Exhibit 3, net income in 2001 equaled to $38,537,000. So share price is $38,537,000*29. 12/40,600,000=$27. 6 EBIT Multiple: Business valuation= profits * EBIT multiple=38,537,000*20. 71=798,101,270 So share price= business valuation/ shares=$20 In summary, after those two valuations of the JetBlue’s IPO, we can recommend that the current price level ($26) is in a reasonable range.

Free Essays on Enron-v- Andersen

1. The possible stockholders in this situation are the stockholders, the FDA, the Law firms, all of the accountant firm’s ea. The Big Five & Enron, the waste management services. The parties that are involved directly would be Enron, the stockholders, the Law offices, the Enron workers, George W. Bush (Arthur Anderson was a big help in getting him elected into office), and the Wall Street Journal. 2. Gross Misconduct-Behavior not conforming to prevailing standard or laws. Negligence-Dishonest or Bad management by persons entrusted or engaged to act on another’s behalf. Arthur Andersen is guilty of Gross Misconduct because they did not adhere to the laws established by GAAP. Their rights to be an auditing firm can be taken away, and then they can also be taken to court on not adhering to the laws established. 3. It should be illegal to work for a firm that is your client, the example are the workers working for Enron were accountants for Andersen. They risks and potential dangers that can result from allowing this to happen can be that they can merge documents to make fake ones or even the code of conduct can be messed with. 4. The implication that can arise from shredding documents is that a person that has shredded the documents can be tried for not providing original documents that the company had in their possession, but now does not. The company Enron was an open trading company so Andersen took away the rights to public view from their shareholders. 5. Full Disclosure- the vendor should be given reasonable chance to provide a patch or new version before the vulnerability details were made public. Yes, They are since the users are paying the right to stock they should be given the chance to know what is going on. 6. Yes Arthur Andersen did since they shredded the documents they took away from the sight of the information. The documents that they shredded might have been the answer that w... Free Essays on Enron-v- Andersen Free Essays on Enron-v- Andersen 1. The possible stockholders in this situation are the stockholders, the FDA, the Law firms, all of the accountant firm’s ea. The Big Five & Enron, the waste management services. The parties that are involved directly would be Enron, the stockholders, the Law offices, the Enron workers, George W. Bush (Arthur Anderson was a big help in getting him elected into office), and the Wall Street Journal. 2. Gross Misconduct-Behavior not conforming to prevailing standard or laws. Negligence-Dishonest or Bad management by persons entrusted or engaged to act on another’s behalf. Arthur Andersen is guilty of Gross Misconduct because they did not adhere to the laws established by GAAP. Their rights to be an auditing firm can be taken away, and then they can also be taken to court on not adhering to the laws established. 3. It should be illegal to work for a firm that is your client, the example are the workers working for Enron were accountants for Andersen. They risks and potential dangers that can result from allowing this to happen can be that they can merge documents to make fake ones or even the code of conduct can be messed with. 4. The implication that can arise from shredding documents is that a person that has shredded the documents can be tried for not providing original documents that the company had in their possession, but now does not. The company Enron was an open trading company so Andersen took away the rights to public view from their shareholders. 5. Full Disclosure- the vendor should be given reasonable chance to provide a patch or new version before the vulnerability details were made public. Yes, They are since the users are paying the right to stock they should be given the chance to know what is going on. 6. Yes Arthur Andersen did since they shredded the documents they took away from the sight of the information. The documents that they shredded might have been the answer that w...

Free Essays on Go Down, Moses

In the story â€Å"Go Down, Moses† by William Faulkner, many situations come about. The story takes place when sharecroppers were around. Many of the blacks and whites worked hand in hand with each other and there was no apparent sign of racism. One situation that arises was wether or not Gavin Stevens should help Mollie Beauchamp get what she wants. Gavin Stevens, the attorney, at first didn’t want to help Mollie Beauchamp get what she wanted because she has been through so much in her life. He figured that the death of Samuel would result on her behave. Having her not worry about what Samuel would do next is one of the main reasons why Gavin Stevens didn’t want to help at first. After a while of thinking, Gavin then decided that helping her get what she wanted would be the right thing to do. He decided that she needs closure to this event and was willing to help her through it. Mrs. Worsham helped Stevens make the decision on wether to help Mollie Beauchamp or not.. She grew up with Mollie on the plantation, so they grew up acting like sisters. She didn’t want to see Mollie go through so much pain that she helped convince Stevens of his decision. When she convinces him, it’s the first time in the story where Stevens starts to take responsibility. Another situation was how Mollie Beauchamp viewed Roth Edmonds actions towards her child. Mollie Beauchamp viewed Roth Edmands ordering her grandson off the plantation as being rude. She thought as Roth as being the pharaoh. Having all power. She figured, Since he was the owner of the plantation, that he had sold him into slavery. â€Å" â€Å"It was Roth Edmonds sold him† she said. â€Å"Sold him in Egypt. I don’t know whar he is. I just knows Pharaoh got him. And you the law. I wants to find my boy.†Ã¢â‚¬Å" This direct quote from the story shows how upset Mollie is at Roth Edmonds for taking her boy off the plantation. Mollie confuses this event from tha... Free Essays on Go Down, Moses Free Essays on Go Down, Moses In the story â€Å"Go Down, Moses† by William Faulkner, many situations come about. The story takes place when sharecroppers were around. Many of the blacks and whites worked hand in hand with each other and there was no apparent sign of racism. One situation that arises was wether or not Gavin Stevens should help Mollie Beauchamp get what she wants. Gavin Stevens, the attorney, at first didn’t want to help Mollie Beauchamp get what she wanted because she has been through so much in her life. He figured that the death of Samuel would result on her behave. Having her not worry about what Samuel would do next is one of the main reasons why Gavin Stevens didn’t want to help at first. After a while of thinking, Gavin then decided that helping her get what she wanted would be the right thing to do. He decided that she needs closure to this event and was willing to help her through it. Mrs. Worsham helped Stevens make the decision on wether to help Mollie Beauchamp or not.. She grew up with Mollie on the plantation, so they grew up acting like sisters. She didn’t want to see Mollie go through so much pain that she helped convince Stevens of his decision. When she convinces him, it’s the first time in the story where Stevens starts to take responsibility. Another situation was how Mollie Beauchamp viewed Roth Edmonds actions towards her child. Mollie Beauchamp viewed Roth Edmands ordering her grandson off the plantation as being rude. She thought as Roth as being the pharaoh. Having all power. She figured, Since he was the owner of the plantation, that he had sold him into slavery. â€Å" â€Å"It was Roth Edmonds sold him† she said. â€Å"Sold him in Egypt. I don’t know whar he is. I just knows Pharaoh got him. And you the law. I wants to find my boy.†Ã¢â‚¬Å" This direct quote from the story shows how upset Mollie is at Roth Edmonds for taking her boy off the plantation. Mollie confuses this event from tha...

The impact of advice and guidance on student retention at college of Essay

The impact of advice and guidance on student retention at college of further education - Essay Example In other words, we could say that education is what makes a person. For the past thirty years or so, researchers have been showing a keen interest in relatively two specific areas which are correlated to both schools and colleges. One area is school effectiveness and the other is school improvement. This study is going to investigate some of the key points relating to student retention and how guidance and advice can make a huge difference in children making the right choices where their education id concerned. The study is also going to examine the key factors that are responsible for colleges to be effective. It is also going to focus on those areas that deal with how these colleges make use of necessary tools in order that it becomes more effective. Besides these two important notions, most educators and researchers are of the opinion that education does make a huge difference in the life of the student. The research is going to examine those departments within a college in order to seek out and know how some colleges are much better than the rest, what makes them better and how the staff and heads of department develop and implement measures to enhance student’s performance and maintain a very good track record for conduct as well as learning outcomes. Different researchers place their emphasis slightly differently but the following list of factors drawn from Reynolds et al (1997) and Mortimore (1998) seems to be reasonably accepted – Therefore the following areas would be examined in this study – The literature review is going to examine some of the important facets that are necessary to mitigate Student Retention in colleges. It is also going to highlight different ways and means that could help students to make the right choices where their education is concerned. When referring to some of the demographic factors it is said that ‘In Britain, withdrawn students do not have a markedly different profile from completing

English 1010 Essay Example | Topics and Well Written Essays - 250 words - 1

English 1010 - Essay Example It was actually the conversation that Edge had, earlier in the day, with Lionel Dufour, the proprietor of the Farm Fresh Supplier Company, the Company that specialized in the making of the pickled pig lip, concerning the use of pickled pig lip as human food, that gave Edge the courage to taste the pickled pig lip. In the conversation, Dufour had reassured Edge that pickled pig lip is a very good human food. The article lastly describes how Edge eventually ate the pickled pig lip, despite being squeamish about eating it. With his courage bolstered by the conversation that he had with Dufour and, also, having been encourage by Audrey, the bar owner’s wife, Edge eventually ate the pickled pig lip together with some potato chips. Edge, however, fought the urge to vomit as he ate the pickled pig lip; but after eating it, Edge said that, although the taste of the pickled pig lip was foreign to him, the taste wasn’t altogether