Who killed the princes in the tower

Edward V and his younger brother Richard, were sent to the Tower by Richard Ill(also their uncle). the boys were declared illegitimate and the Duke was crowned King Richard Ill. Then the Princes vanished†¦ Richard Ill has usually been considered the most likely culprit. By declaring the princes illegitimate, he cleared his way to the throne. He would secure his position by having them murdered. In 1485, Richard Ill was killed in the Battle of Bosworth.The defeater, Henry Tudor, was crowned King Henry VI'. It was in the Tudors' interest to paint Richard as a villain. Henry VII is also a suspect. He married the princes' sister, Elizabeth of York, strengthening his claim to the throne. This could have been jeopardised if the boys had survived. It does seem unlikely that they survived beyond the end of Richard's reign without being seen. There are also other suspects including the Duke of Buckingham, once Richard's closest ally, whom he later had beheaded.Thomas More, writing over 3 0 years later, stated that the princes were mothered on their uncle's orders, secretly buried ‘at the stair foot', and then reburied elsewhere in the Tower. Two skeletons, identified as those of the princes, were discovered when a building in front of the White Tower was demolished in 1674. The skeletons were examined in 1933 and pronounced as belonging to two boys, aged about ten and twelve. Were these the two boys? I think that king Richard Ill killed the two boys, but then again How could a man who seems to be so fiercely loyal to his brother, kill his brother's children after his death?Despite having eliminated the two princes from being in line for the throne, his claim to the throne was still insecure and the Princes could be a threat all the time they were alive. Richards enemies would seize on them as a leader without real power and Richard couldn't afford that. Despite the rumours and accusations of murder, Richard never attempted to prove them alive by having them se en in public nor did he open any investigation into an investigation into the matter. This to me seems very suspicious and therefore that is why I am convinced Richard Ill killed the princes in the tower.

Stock and Debt

CHAPTER 12 QUESTIONS 12-1Operating leverage affects EBIT and, through EBIT, EPS. Financial leverage generally has no effect on EBIT—it only affects EPS, given EBIT. 12-2Because Firm A has a higher fixed operating costs, its operating income will change by a greater percentage than Firm B’s operating income if sales change. Firm A has a higher degree of operating leverage than Firm B. 12-3If sales tend to fluctuate widely, then cash flows and the ability to service fixed charges also will vary. Consequently, there is a relatively large risk that the firm will be unable to meet its fixed charges.As a result, firms in unstable industries tend to use less debt than those whose sales are subject to only moderate fluctuations. 12-4The tax benefits from debt increase linearly, which causes a continuous increase in the firm’s value and stock price. However, bankruptcy-related costs begin to be felt after some amount of debt has been employed, and these costs offset the benefits of debt. See Figure 12-5 in the textbook. 12-5Carson does have leverage because its EPS increases by a greater multiple than its sales when sales change. According to the information that is given, Carson’s DTL is 4 = 20/5.Because we have no information about either the firm’s operating fixed costs or its fixed financing costs, we cannot state whether the firm has operating leverage, financial leverage, or both. 12-6EBIT depends on sales and operating costs that generally are not affected by the firm’s use of financial leverage, because interest is deducted from EBIT. At high debt levels, however, firms lose business, employees worry, and operations are not continuous because of financing difficulties. Thus, financial leverage can influence sales and cost, hence EBIT, if excessive leverage causes investors, customers, and employees to be oncerned about the firm’s future. 12-7Expected EPS generally is measured as EPS for the coming years, and we typically do not reflec t in this calculation any bankruptcy-related costs. Also, EPS does not reflect (in a major way) the increase in risk and ks that accompanies an increase in the debt ratio, whereas P0 does reflect these factors. Thus, the stock price will be maximized at a debt level that is lower than the EPS-maximizing debt level. 12-8A firm can change the proportion of debt it uses in its capital structure. If the firm has too much (little) debt, it can reduce (increase) the proportion of debt in its capital structure.Such as change should decrease the firm’s WACC, and thus increase its value. 12-9Absolute’s optimal capital structure is 40 percent debt (= $20,000,000/$50,000,000), because the market price of the company’s stock ($130. 75) is maximized at this point. 12-10With increased competition after the breakup of AT&T, the new AT&T and the seven Bell operating companies’ business risk increased. With this component of total company risk increasing, the new companie s probably decided to reduce their financial risk, and use less debt, to compensate.With increased competition the chance of bankruptcy increases and lowering debt usage makes this less of a possibility. If we consider the tax issue alone, interest on debt is tax deductible; thus, the higher the firm’s tax rate the more beneficial the deductibility of interest is. However, competition and business risk have tended to outweigh the tax aspect as we saw from the actual debt ratios of the Bell companies. The Bell companies and the new AT&T lowered their debt ratios, for reasons along these lines. 2-11Several possibilities exist for the firm, but trying to match the length of the project with the maturity of the financing plan seems to be the best approach. The firm might want to finance the R&D with short-term debt and then, if the project’s results are successful, to raise the needed capital for production through long-term debt or equity. Another possibility would be to issue convertible bonds, which can be converted to common stock—a lower interest rate would be paid now, and in the future (presumably the stock price will increase with the new process) investors would trade in the bonds for stock.One also should keep in mind that this project, and R&D in general, is extremely risky and debt financing might not be available except at extremely high rates. For this reason, many R&D companies have low debt ratios, instead paying low dividends and using retained earnings for financing projects. Under Debt financing the expected EPS is $5. 78, the standard deviation is $1. 05, the CV is 0. 18, and the debt ratio increases to 75. 5%. (The debt ratio had been 70. 6 percent. Under Equity financing the expected EPS is $5. 51, the standard deviation is $0. 85, the CV is 0. 15, and the debt ratio decreases to 58. 8 percent. At this interest rate, debt financing provides a higher expected EPS than equity financing; however, the debt ratio is significan tly higher under the debt financing situation as compared with the equity financing situation. Because EPS is not significantly greater under debt financing, but the risk is noticeably greater, equity financing should be recommended.INTEGRATIVE PROBLEMANSWER: Business risk is the uncertainty associated with a firm’s projection of its future operating income.It also is defined as the risk faced by a firm’s stockholders if the company uses no debt. A firm’s business risk is affected by many factors, including: (1) variability in the demand for its output, (2) variability in the price at which its output can be sold, (3) variability in the prices of its inputs, (4) the firm’s ability to adjust output prices as input prices change, (5) the amount of operating leverage used by the firm, and (6) special risk factors (such as potential product liability for a drug company or the potential cost of a nuclear accident for a utility with nuclear plants).ANSWER: Oper ating leverage is the extent to which fixed operating costs are used in a firm’s operations. If a high percentage of the firm's total operating costs are fixed, and hence do not decline when demand falls, then the firm is said to have high operating leverage. Other things held constant, the greater a firm’s operating leverage, the greater its business risk. [pic] ANSWER: Financial leverage refers to the firm’s decision to finance with fixed-charge securities, such as debt and preferred stock. Financial risk is the additional risk, over and above the company's inherent business risk, orne by the stockholders as a result of the firm's decision to finance with debt. [pic] ANSWER: As we discussed above, business risk depends on a number of factors such as sales and cost variability, and operating leverage. Financial risk, on the other hand, depends on only one factor—the amount of fixed-charge capital (financing) the company uses. [pic] ANSWER: Here are the f ully completed statements: The expected TIE would be larger than 2. 5x if less debt were used, but smaller if leverage were increased. [pic] ANSWER: The optimal capital structure is the capital structure at which the tax-related benefits of leverage are exactly offset by debt’s risk-related costs.At the optimal capital structure, (1) the total value of the firm is maximized, (2) the WACC is minimized, and the price per share is maximized. [pic] ANSWER: Here is the sequence of events: 1. CDSS must first announce its recapitalization plans. 2. The company’s stock would have some market price before the announcement, in this case, $20 per share. The company would have to estimate (a) the price it would have to pay for the repurchased shares and (b) the method to be used for the repurchase (open market purchases, or a tender offer). 3.For simplicity, we assume that the firm could repurchase stock at its current price, $20, which also happens to be its book value per share. In actuality, investors would probably reassess their views about the firm’s profitability and risk under the new capital structure, and the stock price probably would rise. No current shareholder would be willing to sell at a price very far below the expected new price, although some would be afraid the recap plan might not go through, and those stockholders would sell out at a lower-than-expected price.Therefore, the stock price would adjust quickly to a new equilibrium that reflects the recapitalization. 4. CDSS would purchase stock, then issue debt and use the proceeds to pay for the repurchased stock. After the recapitalization, the company would have more debt but fewer common shares outstanding. A new EPS could be calculated, and the price would settle into its new level. [pic]4. ANSWER: The analysis for the debt levels being considered (in thousands of dollars and shares) is shown below: At Debt = $0: [pic] At Debt = $250,000: Shares repurchased = $250,000/$20 = 12,5 00.Remaining shares outstanding = 100,000 – 12,500 = 87,500. Note: EPS and TIE calculations are in thousands of dollars. ) [pic] At Debt = $500,000: Shares repurchased = $500,000/$20 = 25,000. Remaining shares outstanding = 100,000 – 25,000 = 75,000. (Note: EPS and TIE calculations are in thousands of dollars. ) [pic] At Debt = $750,000: Shares repurchased = $750,000/$20 = 37,500. Remaining shares outstanding = 100,000 – 37,500 = 62,500. (Note: EPS and TIE calculations are in thousands of dollars. ) [pic] At Debt = $1,000,000: Shares repurchased = $1,000,000/$20 = 50,000. Remaining shares outstanding = 100,000 – 50,000 = 50,000. (Note: EPS and TIE calculations are in thousands of dollars. [pic] [pic] ANSWER: We can calculate the price of a constant growth stock as DPS divided by rs minus g, where g is the expected growth rate in dividends: [pic] Because in this case all earnings are paid out to the stockholders, DPS = EPS. Further, because no earnings are plowed back, the firm’s EBIT is not expected to grow, so g = 0.Here are the results: Debt Level DPS rs Stock Price $ 0 $3. 00 15. 0% $20. 00 250,000 3. 26 15. 5 21. 03 500,000 3. 56 16. 5 21. 58* 750,000 3. 86 18. 0 21. 44 1,000,000 4. 8 20. 0 20. 40 * maximum ANSWER: A capital structure with $500,000 of debt produces the highest stock price, $21. 58, hence it is the best of those considered. ANSWER: We have seen that EPS continues to increase beyond the $500,000 optimal level of debt. Therefore, focusing on EPS when making capital structure decisions is not correct—while the EPS does take account of the differential cost of debt, it does not account for the increasing risk that must be borne by the equity holders. ANSWER: Currently, Debt/Total assets = 0%, so total assets = initial equity = $20 x 100,000 shares = $2,000,000.WACC = ($500,000/$2,000,000)[(11%)(0. 60)] + ($1,500,000/$2,000,000)(16. 5%) = 1. 65% + 12. 38% = 14. 03%. NOTE: If we had (1) used the equilibri um price for repurchasing shares and (2) used market value weights to calculate WACC, then we could be sure that the WACC at the price-maximizing capital structure would be the minimum. Using a constant $20 purchase price, and book value weights, inconsistencies might creep in. [pic] ANSWER: If the firm had higher business risk, then, at any debt level, its probability of financial distress would be higher.Investors would recognize this, and both rd and rs would be higher than originally estimated. It is not shown in this analysis, but the end result would be an optimal capital structure with less debt. Conversely, lower business risk would lead to an optimal capital structure that included more debt. ANSWER: The three degrees of leverage are calculated below: S = $1,350,000 New debt = $500,000 @ 11% VC = 0. 6S F = $40,000 (Note: Calculations are in thousands of dollars. ) [pic] [pic] DTL = DOL x DFL = 1. 08 x 1. 12 = 1. 21. The degree of operating leverage is defined as the percent age change in perating income (EBIT) associated with a given percentage change in sales. Because our company’s degree of operating leverage is 1. 08, this means that a given percentage increase in sales will lead to an 8 percent greater increase in EBIT. For example, if sales increased by 100 percent, then EBIT would increase by 108 percent. The degree of financial leverage is defined as the percentage change in EPS associated with a given percentage change in EBIT. Because CDSS’s degree of financial leverage is 1. 12, this means that if EBIT increased by 100 percent, then EPS would increase by 112 percent.The degree of total leverage shows the combined effects of operating and financial leverage on the firm’s earnings per share. It is defined as the percentage change in EPS brought about by a given percentage change in sales, and it is calculated as DOL x DFL. Because CDSS’s DTL is 1. 21, a 100 percent increase in sales would produce a 121 percent increa se in EPS. The degree of leverage concept is useful for planning purposes, as it gives an idea of what will happen to earnings as sales vary. Investors can use the concept to consider firms with different leverages if they expect sales to rise or fall. [pic]ANSWER: Because it is difficult to quantify the capital structure decision, managers consider the following judgmental factors when making capital structure decisions: (1)The average debt ratio for firms in their industry. (2)Pro forma tie ratios at different capital structures under different scenarios. (3)Lender/rating agency attitudes. (4)Reserve borrowing capacity. (5)Effects of financing on control. (6)Asset structure. (7)Expected tax rate. ANSWER: The following figure presents a graph of the situation: [pic] The use of debt permits a firm to obtain tax savings from the deductibility of interest.So the use of some debt is good; however, the possibility of bankruptcy increases the cost of using debt. At higher and higher leve ls of debt, the risk of bankruptcy increases, bringing with it costs associated with potential financial distress. Customers reduce purchases, key employees leave, and so on. There is some point, generally well below a debt ratio of 100 percent, at which problems associated with potential bankruptcy more than offset the tax savings from debt. Theoretically, the optimal capital structure is found at the point where the marginal tax savings just equal the marginal bankruptcy-related costs.However, analysts cannot identify this point with precision for any given firm, or for firms in general. Analysts can help managers determine an optimal range for their firm’s debt ratios, but the capital structure decision still is more judgmental than based on precise calculations. ANSWER: The asymmetric information concept is based on the premise that management’s choice of financing gives signals to investors. Firms with good investment opportunities will not want to share the benef its with new stockholders, so they will tend to finance with debt. Firms with poor prospects, on the other hand, will want to finance with stock.Investors know this, so when a large, mature firm announces a stock offering, investors take this as a signal of bad news, and the stock price declines. Firms know this, so they try to avoid having to sell new common stock. This means maintaining a reserve of borrowing capacity so that when good investments come along, they can be financed with debt. 12-17Computer-Related Problem a. If the outstanding debt has to be refunded at the new higher interest rate, expected EPS would decline under either financing plan. However, EPS would decline more if debt financing were used. Therefore, ebt financing has become relatively less attractive than stock financing. The output generated by the model is given below:ETHICAL DILEMMA A BOND IS A BOND †¦ IS A STOCK †¦ IS A BONDOCK?Ethical dilemma: Wally is evaluating whether to use a new (to the United States) financial instrument to raise funds to finance Ohio Rubber & Tire’s (ORT) expansion plans. The new instrument, which is called a bondock, has some characteristics of traditional debt and some characteristics that are similar to common equity. The cost of capital associated with bondocks is slightly higher than traditional debt, but significantly lower than common equity.If ORT’s expansion plans are successful, both its bondholders and its stockholders will receive handsome returns. However, if the expansion plans are not successful, then it appears that stockholders can still benefit but at the expense of bondholders. ORT’s executives are some of the company’s major stockholders, so it appears that they would be in favor of issuing bondocks. Discussion questions: ?Is there an ethical problem? If so, what is it? The question here is whether it is appropriate to use a new financial instrument called a bondock to raise funds needed for expansi on.Because the cost of capital associated with a bondock is slightly higher than the cost of debt but significantly lower than the cost of equity, management thinks that it might be appropriate to use this medium to raise funds to invest in risky ventures. If the expansion investment is successful, both the bondholders and the stockholders will benefit. Of course, the benefit to stockholders will be greater than the benefit to bondholders. On the other hand, if the expansion investment is unsuccessful, both bondholders and stockholders will suffer financial losses.But, because the market values of the bondocks will decline significantly, the firm could benefit by repurchasing these financing instruments in the capital markets. In this case, stockholders would benefit at the expense of bondholders. As a result, the ethical question is whether ORT should raise funds using bondocks knowing that there is a possibility that its stockholders will gain at the expense of its bondholders. ?I s it appropriate for ORT to use bondocks to raise funds that are needed for expansion? Is there an ethical dilemma here? Maybe not. Remember that investors take risks when purchasing the stocks and bonds of firms.In this case, ORT would be wise to use bondocks if the purpose is to raise funds for expansion while trying to lower the cost of capital associated with â€Å"going to† the financial markets. It might be argued that it is unethical for ORT to use bondocks if the intent is to benefit executives who receive bonuses and incentives in the form of the company’s stock. It also might be argued that it is unethical if the intent is to harm the position of bondholders.However, if the primary objective is to increase the value of the firm, then it is difficult to argue that issuing this new financial instrument is unethical. What would you do if you were Wally? It seems that the best solution is for Wally to try to get more information about the new financial instrument called a bondock. Because little is known about bondocks and they appear to be rather complex financial instruments, Wally should gather more information about the risks as well as the benefits to ORT associated with using this medium to raise funds for expansion. Once he has performed his due diligence, Wally should determine whether using bondocks will benefit the firm and its investors in general.If the answer is â€Å"no,† then bondocks should not be used. References: The following articles might be assigned for background material: Emily Thornton, â€Å"Gluttons at the Gate,† BusinessWeek, October 30, 2006, pp. 58-66. David Henry, â€Å"Cross-Dressing Securities,† BusinessWeek, March 13, 2006, pp. 58-59

Executive Summary Essay Example | Topics and Well Written Essays - 1000 words - 4

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Sampling Research Paper Example | Topics and Well Written Essays - 3250 words

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3800 complete 4 Assignment Example | Topics and Well Written Essays - 750 words

3800 complete 4 - Assignment Example Payne was on his way to Omni and stopped by the highway 78 to wait for a cab. The witness reported that he saw Williams talk to a taxi driver before the two boarded the taxi. There was a station wagon parked on the opposite side of the road. Later, on 27th April 1981, the body of Jimmy Payne was discovered dumped in Chattahoochee River (Terrence, 2005). The medical investigations done on the body showed that the death of Payne resulted from asphyxia through an undetermined method. After lengthy investigations, the state showed evidence that there were seven fiber and hair associations between Payne and Williams. The violet acetate fibers removed from Payne resembled those on Williams’s bed. The green well-man fibers on Payne’s shorts resembled those on Williams’s carpet. The blue-green/blue-gray fibers removed from the victim resembled the rayon fibers in the carpet of the station wagon seen by the witness. The light-yellow fibers found on Payne’s body resembled those found on the defendants blanket in his bedroom. The blue acrylic fibers removed from Payne’s body were consistent with the fibers in the blue throw rug found in Williams’s bedroom. There was also evidence showing that some animal hairs removed on Payne were from Williams’s shepherd dog (Terrence, 2005). The state said that all the fibers presented were lighter that their original counterparts due to exposure to the river. For each murder victim, there were certain fibers that were removed from them and each had a connection with fibers found in the defendant’s house. In the case of Alfred Evans, there were four fiber and hair associations between the defendant and the victim. The fibers fund on Eric Middlebrook, who was aged 14, resembled those on Williams bed spread. The animal hairs found on Evans body were linked to Williams’s dog. Charles Stephen body, who was aged 12, also had fiber evidence that was linked to William. Government agents testified

Human Rights Act 1998 6(3)(b) Essay Example | Topics and Well Written Essays - 1000 words

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First Migration of Humans Research Paper Example | Topics and Well Written Essays - 1500 words

First Migration of Humans - Research Paper Example The early human migrations, or the movement and expansion of the first humans, can be classified into three main categories, based on the geological period in which they migrated and moved out of the area in which they lived in and around. The species of Hominid up to the Australopithecines and the early Homo habilis have occupied and inhabited the chained mountain valleys located in the eastern portion of the African continent. Approximately, between two to one million years ago, a group of people, the Homo ergaster who may possibly have descended from the Homo habilis moved out of the mountain valleys into a vaster and larger expanse of land. After a while, they moved around again, travelling on to eastern and central Asia. Along this journey of migration, these hominid species have evolved into the next group of hominids, the Homo erectus. The Homo erectus, the next Hominid species after the Homo habilis had a more robust body than the body type of modern human. They were the firs t group of hominids to be able to create rafts in order to cross over bodies of water, the first ones to live in a nomadic hunter-gatherer lifestyle, and they were considered as the first to be able to create and make use of fire. One hundred twenty five thousand years ago, these people migrated to the Sahara, which at that time was green. However, they died out by ninety thousand years ago. This area was later reoccupied by the Neanderthals. Around eighty thousand years ago, a new Hominid species, the Homo heidelbergensis, emerged in Africa. Just like the earlier groups of Hominid species such as the Homo habilis and Homo ergaster, it too, migrated all the way through the entire continent of Africa and then later on, also notably, they became the first to move to Europe. This group of people showed similar characteristics as the Homo erectus in that it used the same Acheulean stone tool manufacturing and industry. However, their physical features were slightly different, their bone structures were larger and heavier and their hunting strategies were more strategized and systematic compared to the Homo erectus. The entire human population all over the world who are living today all belong to the classification of Homo sapiens, the final hominid species. This group of people is the only member of the genus Homo that was able to survive and live out the tough and harsh conditions in the early past. Based on the various facts and findings gotten from the oldest skull on Earth, which were found in Africa, the earliest Homo sapiens must have originated from the great continent about two hundred thousand years ago. The Homo sapiens are set apart from the earlier groups of Hominid species by their ability to think in a higher level, communicate with other humans through the use of a more developed language and to be able to live in a more complex manner. Current discoveries and results implicate that this species have appeared for the first time in East Africa. Later on, archeological and anthropological expeditions came across numerous skulls located at several places in East Africa such as in Ethiopia and Tanzania. After eighty five thousand years since their first appearance, they have started to expand their populace to South, Southwest and central Africa. Each skull found showed an advanced transition in physical form, implying that migration has taken place. Mitochondrial DNA studies have confirmed these results. After this migration, the Homo sapiens move out of Africa, moving on to the

The Mysterious Death of Mary Rogers Sex and Culture in Essay

The Mysterious Death of Mary Rogers Sex and Culture in Nineteenth-Century New York - Essay Example The story is about a twenty one year old, beautiful woman called Mary Cecilia Rogers who used to live with her mother at the New York boarding house. Her father had been in a steamboat explosion which he had not survived when she was only seventeen years old. So she started working behind the counter as a clerk at a small cigar store called Anderson’s Liberty Street in Manhattan whose owner was John Anderson. He paid her an above than normal wages because her beauty brought in more customers than usual so sales were high. This was proven when fewer customers turned up on the day that she did not come for work. Mary had used her savings to buy her mother an Inn and it was there where the two resided. One of the customers living here was a young man called Alfred Crommelin who was a lawyer. He soon fell in love with Mary who rejected her, but he was gentleman enough to retreat without complaints. He moved out but the two remained friends despite his continuous love for the girl. The person who Mary did fall in love with despite his weakness of alcoholism was Daniel Payne who worked as a cork cutter. The two got engaged though the relationship was disapproved of by her mother Phoebe but life carried on. The first time Mary’s disappearance was reported was in the month of October in 1838 in the Sun. Phoebe had come across what seemed like a suicide note where Mary stated her wish to finish herself off. However, the young girl returned the next day saying that she had been only visiting a friend who lived in Brooklyn. It was said that the Sun had published a hoax to get some attention. Later, there were rumors that Anderson had created the story to gain more customers. She lived a normal life until the incident that took place during the summer of 1841 in New York City when she was announced missing from her mother’s home for the second time. After three days of search, her mutilated corpse was found. Her badly bruised body had been discovered f loating on the Hudson River near the Jersey shore, Crommelin having identified her. The hand prints around her neck proved that she had been murdered and not committed suicide. Investigations were carried out, several theories were provided by the police force as well as the journalists, and yet no one managed to discover for sure who exactly was responsible for such an act. Her fiance Payne was implicated but had an alibi to prove his innocence. Nonetheless, some weeks after Mary’s death, he took his life by drinking poison out of his love for his fiancee. The police thought that some members of a gang had tortured her, killed her and then dumped the woman in the River to rot. Later on, a woman called Mrs. Loss who was notorious in that area for her job of helping single pregnant women getting abortions made some revelations. She stated that Mary had conceived a child and had come to her with a dark, handsome man to get rid of the baby. This led to rumors that the abortion h ad led to complications leading to her death. However, questions were raised regarding the very obvious bruises on her bodies which showed that she had been killed in a very brutal and violent manner. During this time, New York was considered as the urban city where everyone was moving up to raise their social and living standards. The Rogers family had done the same. However, the security of the regions was not good, the police force just present for name, not doing any work. There were sets of officers whose duty was to patrol the city during the

Individual Portfolio Essay Example | Topics and Well Written Essays - 3000 words

Individual Portfolio - Essay Example capture the customer mindset so that they can be thinking about the company products at all times through the items they possess at home (Estes, Gibbert, Guest, & Mazursk, 2012, p. 97). This can well be explained by use of the customer-based brand equity model that brings together the requirements for a publicly renowned brand in the market. The relationship is supposed to exist between the brand salience and the final resonance that the consumers have in their minds. The objectives of every process above are; creation of active loyalty, rational emotional connections and a deep set brand awareness. To therefore measure the sources of brand equity, the management team especially the brand managers must take into account the facts that they must be aware of how consumers shop and use their products and the actual knowledge that the customers have on these products (Aaker, 2003, p. 253). Adidas AG has extensively used the theorized procedures above to create relevance of their brands in the market with keen awareness that they face stiff competition from other companies like Puma and Nike. The company understands that creation of an attachment to its products by the customers is a procedure. The symbol below represents the company logo that represents the brand imagery as indicated on the logo model above. The image appears on all the brands produces by the company. The three stripes are the ultimate identity of the company. Apparently the company ventures into production of sports attire and facilities. When the customers use these, there is a sense of cohesion between the product and the customer. A theoretical perspective of this issue brings to mind two ways of capturing the customer mindsets; through qualitative and quantitative ways. Adidas Company has used both qualitative and quantitative techniques as sources of measuring their brand equity. For instance, taking the example of the product below, the customer is supposed to be able to create an association

Gentlemans Agreement Essay Example | Topics and Well Written Essays - 500 words

Gentlemans Agreement - Essay Example For example, if an employee at a company says they will get you a job and you have nothing to worry about, this is an example of a gentleman's agreement. However if they are unable to get you the job then you have no legal recourse" (Free Dictionary, 2008, pg. 1). The Law Encyclopedia (2008, pg. 1) says that "Although agreements between individuals often create legally binding commitments, instances may arise in which mutual promises yield no legally enforceable agreement. Sometimes called "gentlemen's agreements," parties may honor them because moral obligations compel observance or because future relations will be more difficult if the present arrangement is broken. International organizations likewise may depend on such informal arrangements so as to maintain comity among members" and that "Occasionally the enabling treaties that create an international organization will leave some procedural or voting matter unresolved. Rather than amend the formal document, which is usually a difficult task, an informal working agreement will develop to resolve a particular problem.

Chocolate Outline Essay Example for Free

Chocolate Outline Essay Specific Purpose: To inform my audience about the health benefits of chocolate Central Idea: Chocolate is one of the oldest treats around; that has some beneficial health factors to it. Introduction I. Attention-Getting a. When I was younger I would sneak a piece of dark chocolate in right before dinner†¦ Made me feel a little naughty! Of course my dad would always catch me and ask â€Å"where’s my piece? † and we’d eat it together. It was our little secret. How many of you have ever done this? To this day I still get that feeling! II. Credibility a. Chocolate has been my favorite ever since I was little and have enjoyed the different tastes, textures and health benefits behind it. III. Preview a. History of Chocolate b. Different Types of Chocolate c. Health Benefits of Chocolate Body I. History of Chocolate a. 1500 BC -400 BC Olmec Indians were first to from Cocoa Beans as Domestic Crop. Civilization only lasted 300 B. C. b. 600 AD Mayans migrate Central South America establish cocoa plantation c. 14th Century: Aztecs upper classes who usurped the Mayan drink taxed the beans drank chocolate drink, because it supposedly healed the soul. d. Aztecs restricted the drink to priests, nobles, kings, queens, officials and worriers. (showed of sign of higher class) e. 1502 Columbus entered Mayan trading channel and bring back cocoa beans to King Ferdinand ? (4th visit to New World) as it was over looked to the other treasures. f. 1519-1570 Heran Cortes a Spanish, went to Vera Cruz, Mexico and was mistaken for the god (the god who gave the Aztecs the cocoa beans and taught how to cultivate it) he conquered Aztec empire returned to King Charles V. g. Cortes kept Aztec tradition and heavily taxed the chocolate so only rich can afford it ? the chocolate drink was told to heal the soul and to keep you healthy from bad diseases. From then on chocolate became a profitable industry. II. Types of Chocolate a. White Chocolate: made of cocoa butter, sugar, milk, emulsifier, vanilla, and some other extras. No non-fat ingredients causing to have off-white shade. b. Dark Chocolate: high in cocoa solids-0% milk-12% c. Semi-Sweet Chocolate: the original dark chocolate, used for baking, 40-62 % cocoa solids, (diff is 35-45% cocoa solids) d. Bitter Sweet Chocolate: 35% cocoa solids, other varieties of it have 60-85% cocoa solids, high in cocoas, low in sugar. e. Milk Chocolate: 10% cocoa liquor/ butter/ sugar/ 12% milk, cream. III. Health Benefits of Chocolate a. California Academy of Science: Did studies on chocolate! i. Chocolate elevates your mood ii. Chocolate prevents/delays damage to cells tissues. Compounds from cacao plant (red wine, tea, fruits, and veg. ) had antioxidants that believe to prevent any damage to the body. b. USA TODAY: Reports Chocolate reduced your risk of heart attack and stroke. i. Dr. Oscar Franco’s research says chocolate reduced risk by 37 % and lowers risk of diabetes by 31% and stroke by 29% . Eat in Moderation. c. A study was done by West Virginia researcher Whelling Jesuit found that chocolate simulates the brain and can improve cognitive performance. IV. Health Risks of Chocolate a. According to the New York Times, Chocolate can disrupt sleep if you eat it right before bed-contains nine or more milligrams of caffeine. Chocolate is a stimulant and increases your heart rate. b. Can cause acne and obesity if not eating in moderation! Conclusion I. Review a. Now that your practically waiting to get your hand on chocolate- i. You’ve learned it’s sweet history. ii. The Different Types of Chocolate There Are iii. The Health Benefits Risks of Eating Chocolate II. Closing a. Dark Chocolate or Milk Chocolate b. What is your favorite kind of chocolate? Works Cited California Academy of Science. Terrence M. Gosliner, n. d. Web. 2013. . Facts About Chocolate. LaShelle, n. d. Web. 2013. . The Nibble. Ellen Cooper Edelman, n. d. Web. 2013. . OCONNOR, ANAHAD. Chocolate can be disruptive to sleep. The New York Times, sec. D: 5. LexisNexis Academic. Web. 2 Oct. 2013. . USA Today. Steven Reinberg, 29 Aug. 2011. Web.

Tesco Change Management Strategy

Tesco Change Management Strategy Tesco is the UKs most successful and high profile supermarket and one of the worlds leading international retailers. Tesco was founded by Jack Cohen at east London in 1919. The name came about after Jack Cohen bought a shipment of tea from T.S. Stockwell. He made new labels using the first three letters of the suppliers name (TES), and the first two letters of his surname (CO), forming the word TESCO (tesco.com). Tesco is the market leader of the supermarket industry in UK with revenue of  £38.558 billion including VAT and  £62.537 billion of revenue worldwide in 2010 (tescoplc.com). Even in this recession Tesco has made an incredible  £3.4 billion profit worldwide this year (guardian.co.uk). 1.2: Mission statement: To create value for customers to earn their life time loyalty (Please see appendix no 1 for full details). 1.3: Objectives: The objectives of the strategy are: To be a successful international retailer To grow the core UK business To be as strong in non-food as in food. To develop retailing services such as Tesco Personal Finance, Telecoms and Tesco.com To put community at the heart of what we do (Tesco.com). 1.4 Performance: Tesco has highly market growth among all supermarket giants since it is performing. It has highest number of store across UK .It is also providing service in Europe , Asia and initial market in the U.S .A by the name of Fresh and Easy as it is third largest supermarket in the world (Tesco.com). 2. Introduction: Strategic change management can be defined as the art and science of formulating, implementing and cross-functional decisions that enable an organisation to achieve its objectives. Strategic change management is design for marketers to understand their current position in the market to divert its actions for future benefits. It brings the idea of management, operational, financial and all other forms of action need to change for future benefits in the long run. 2.1 The action of Strategic change Management: Adapting the strategic change management is a significant element of exploiting and creating new and different opportunities for tomorrow. It magnifies and implements its operational actions in the long run to achieve target. To survive, all organisations must astutely identify and adapt to change. The strategic management process is aimed to allowing organisation to adapt effectively over long period of time. 2.2 Contribution by gurus: Peter Drucker (1969): Coined the phrase age of discontinuity to describe the way change forces disruption into continuity of our lives. We are now in an age of discontinuity and extrapolating from the past is hopefully ineffective. The information is needed for the performance of service operation is rely on the perspective is operational managers require finer obtained information than is needed as part some corporate diagnostic. According to peter drucker Two problem arise from strong corporate reporting, first, policy and political goal can down played, and second, the focus can easily become concentrated on organisational effectiveness at the expences of community needs analysis. He argued downside of the organisational information system was that management focus inevitably became drown to internal system (Longo and Cristofoli, 2007). Change is essential and compulsory in order to ignore the discontinuity of our life. AC 4: Examining the need for strategic change in Tesco: An organisation needs to change in order to meet the following condition. To remain competitive in their respective market. To ensure that they can adapt to change in order to meet ever changing environment circumstances. To remain focused in order to plan their future. Changes respectively occur on the basis of its objectives and competitiveness. The relative importance of change is to identify what market is needed for and to enable them by supplying the essentials. Tesco has made its significant strategic change on growing market particularly in the UK. Tesco has a well-established and consistent strategy for growth, which has allowed themselves to strengthen their core UK business and drive expansion into new markets. Tesco is a giant supermarket it has remained highly competitive in the market because of its market growth by adapting to the need for change. Corporate strategy: Examination of the current and anticipated factors associated with customers and competitors envision a new or effective role for the firm in a creative manner for organization. Tesco corporate Change: Tesco had undergone some strategic change in the respect of till set up. They introduced self service till in order to remain competitive and satisfied customer requirements. There is a need to implement such a change for Tesco to remain the leader in the retail industry. 3.2 What is change management? A structured approach to transition individuals teams and organisations from a current state to a desired future status. A systematic approach of dealing with change both from a prospective of an organisation and on the individual level. Including: Adapting to change, controlling change and effecting change. [AC: 4] Assess the factors that are driving the need for strategic change: Change is often necessary because of external and internal development and external factors. Theory: Micro environment influences the organization directly. It includes suppliers that deal directly or indirectly, consumers and customers, and other local stakeholders. Macro environment includes all factors that can influence an organization, but that are out of their direct control. A company does not generally influence any laws. It is continuously changing, and the company needs to be flexible to adapt (www.blurtit.com). The general environment and the task environment PESTEL analysis: A PESTLE analysis for Tesco must consider all the important external factors impacting on the company. These factors may have political, economic, sociological, technological, legal or environmental dimensions. Tescos operations obviously have a significant environmental impact, from fossil fuel use to packaging issues. Reducing the demand on the planet is a challenge for any big company. A PESTLE Analysis for Tesco must look at all the six factors we have mentioned. Here they are again, with examples of each: Political: The increase numbers of political instability can affect the business by the Democratic government, political legislation. Economic: rate of inflation, interest rate, competition demand, employment level, income level Sociological: population demographics ,Lifestle, pattern of social interection, Religion, Believes, Norms Technological: Level of skilled Manpower, Transportation. legal: Employment laws, Consumers protection laws, investments laws and Health Safety laws (Class lecture). Environmental: climate change is affecting supply and transport, how can Tesco adapt External change triggers: Tesco has been able to place itself as a fastest and highly growing market in the world. As a worldwide business Tesco have great concern of global warming. As a result of this they have put important roles for climate change by becoming 0% carbon business by 2050, reducing 30% emissions of products they sell by 2020. Health awareness is a significant issue Tesco is introducing for their consumers by providing better information on nutrition to improve health. They make healthy options more accessible by providing price and promotions, healthy ranges and reformulating products. They are also responsible of selling alcohol. Tesco working constructively and developing strategy for demographic change on among all races. Near or task environment: Cover all the stakeholders who can influence and be influenced by organisations direct actions. Tesco has local buying strategy in every region dedicated to local market on demand of many consumer want to boost up their domestic economy. Tesco has segmented the suppliers for their products with 4000 local and national suppliers. Although Tesco appearing one of the super market giant in the UK yet it has got some main rivals which are Sainsburys, ASDA, Morrisons and Co operative. Tesco has established own bank by the name of Tesco bank. Internal change triggers: Technology: Tesco made a drastic change in their customer service sector by introducing self service till in order to reduce the queue in the line Outlets: Tesco operates 4500 stores in 14 markets with a substantial food and non food offering. Also they have fast growing retailers services arm (including dot com, finances and telecoms).As they have their internal sources tell them every day and week by exit and telephone survey with customer to understand them how they are benchmarking against their key competitors. As Tesco involved the qualified people to run its operations therefore there is no senior management dissatisfaction with the status quo has still arrived. To avoid the employee management conflict Tesco established an Internal support and recognition programme for their employee (Tescoplc.com). The systems approach: Technology To be competitive in the market retain consumer revisited and win their lifetime loyalty Tesco introduced Customer relationship programme named (CRM) Clubcard in mid of the 1990s. A modern technology of self serving Till has bought Tesco a successful operation in its management. People Tesco has 472,000 employees serving millions of customer every day. Management Tesco is well structured and its Strategic management is PESTLE analysis, Porters 5 forces analysis, Critical success factors, SWOT analysis, Value chain analysis (ivoryresearch.com). The change agent: A group of people work under the board of Tesco for its internal and external change. They also follow Alton Mayo theory as a process of change. Goal- To retain customer lifetime loyalty. Role Strategic management. Communication- Alton Mayo theory Tesco has come through several changes in internal and external which have held its highly competitive market place among all rivals. [AC: 5] AC 6: Assess the resource implications of the organisation not responding to the strategic change: Resource implication is a tool of company which is used to identify the strategic management available to company. A fundamental principle element is based on maximising potential advantages (Hitt, M. A. et. al. 2001). Tesco as one of the high profile supermarket ha it resources is very rich. It has 472,000 Human resources, Technological resource for online shopping, Tesco financial resources, Thousands of Lorries for transportation, Tesco recycling points located in every Tesco Extra shop for recycle, Tesco Fuel. Tesco as a giant supermarket has its resources very rich. It has potentially identified its resource implication and applied them according to the development stage. According to the company policy it has segmented the resources in three sections which have been discussed below. Human resource of Tesco: Tesco has very good practice of Human resource management. The practice includes: Interviewing: Tesco has highly trained staff and managers for taking interview of applicants according to the level of employment. Training and Development: People realise more committed and involved themselves with Tesco when they know they can grow in the company. Tesco has the strategy of recruiting local people to understand the culture and tradition. They get benefited in the wider economy by investing in training and development as a major company. Restructure: Tesco made a supply chain restructuring programme in Republic of Ireland in 2009 when Pound went down against Euro.(Tesco.com) Physical resource of Tesco: As a world fourth largest retailer Tesco has develop constructive Physical Resources. Building or premises: Tesco as one of the biggest supermarket in the world has 2482 stores in UK and 2328 stores in 13 international markets including EUROPE, ASIA and US. Reputation: Tesco as a Britains largest retailer supermarket has extraordinary reputation of expending its operation in the UK and international markets. Vehicle: Tesco has thousands of different types vehicles that are on the road to deliver and transport consumer goods at their doorsteps and to the stores (Tesco.com). Financial Resources: Tesco is one of the successful retail supermarket in the world have its financial resources very strong and established. The financial resources include below are Cost of training: Tesco has put its market place very strong and competitive. As a result of this Tesco spends millions of pounds for its staff training and the training for running the self service till each year nationally and internationally (Tesco.com) Redundancy cost: Redundancy on Tesco has only made on relocation purpose in February 2007 and March 2010 (Supermarket.co.uk). Relocation cost: Massive amount of relocation cost were made in March 2010 When Tesco wanted to relocate its distribution centre in Widnes from Middleton (David Morgan. (2010) Middlewich shoppers boycott stores following redundancies. Middlewich Guardian, 11th march, p. 1.). Tesco has made its resources implicated widely in the market. It has adapted the implications in strategy in order to achieve the target. [AC 6] AC 7: Develop system to involve stakeholder in the planning of change: Stakeholder analysis: Stakeholder analysis is the document information is provided for the key stakeholders Names and organisation, their role in the project, their level of interest within the company, their influence in the individual project and suggestion for managing relationship among each stakeholder (Schwalbe, 2007).Stake holder is person or group of people who have legitimate interest in the company and who have direct and indirect communication to the company. Stakeholder analysis system Tesco can apply to involve its stakeholder in order to bring the change in the service. Customer Supplier Buyer Government Media Organisation TESCO Who have external relationship with TESCO Supply who have internal relationship with Tesco Who have internal relationship with Tesco Who is externally linked with Tesco Who have external relationship with Tesco Role in the project Who buy their shopping from TESCO Supply the product in Tesco Who buy the product for Tesco Who impose the VAT, Taxes, rent and rate etc Supply the information to customer about Tesco Product. Unique fact Quite demanding for quality of product Demand for More product supply Buying product in time for Tesco Government regulation is obeyed by Tesco Quality of product available for Customer Level of Interest High level of Interest Very high level of interest Very high level of interest Low level of interest Moderate level of interest Level of influence Very high level of Influence Moderate level of influence Moderate level of influence High level of influence Low level of influence Tesco stakeholder Analysis 7.1. Divergence and Convergence: divergence and Convergence is another appropriate way of involving the stakeholder into decision in order to bring the change. Convergence is the tendency of Tesco to adopt successful change practices. Divergence is the results of different implementations of the change management practice. Divergence Factors: Leadership Styles: Identify the Leadership style is very important element of bring the change in Tesco. National culture: Cultural effect always keeps a significant impact of interest to adapt a change in Tesco. Organisational Culture: Tesco must bring the change according to the practice of its organisational culture. Industrial development: Changes always adapted in terms of industrial development. Convergence Factors: Technological Innovation: Technological Innovation is one of the important change Tesco may bring in order to change. High Customer Expectation: The potential change must be based on highly customer expectation. In terms of Structure: The change Tesco needs to adapt according to the Organisational Structure. Convergence and Divergence is two important elements of methods Tesco may apply in order to bring the change in the company. The factors that are driving convergence and divergence is way of apply the change. 7.2. Commitment Development: Commitment development is one of the best process of making stakeholder involved with Tesco. In terms of bring the change in the organisation, Tesco can be more responsible to Customer, Suppliers, Buyers, Governments roles and regulations, and be more accountable to media that what is the development they can provide for better service by bringing the change in Tesco. It can reserve the interest of individuals and supply the commitment according to the consumer needs ( Class lacture). [AC 7] AC 8: Develop a change management strategy with stakeholder: Stakeholder analysis: Stakeholders are those people who have legitimate interest in Tesco. There are six steps of analysing the stakeholder in Tesco. Those steps are Step 1.Identify stakeholders: Identifying the stakeholders is the first step of analysing the stakeholder in Tesco. The stakeholders are in Tesco is Customers, suppliers, Buyers, Employees Managers, Community, Government, and Media. Step 2.Prioritise Stakeholder: Prioritise the stakeholders in Tesco according to their attribution is very important element of bring the development in Tesco. It is an effective process of gradual involvement. Step 3.Develop an engagement strategy: One of the important element of stakeholder analysis is to develop an engagement strategy of stakeholders with Tesco. It brings the commitments and individual duties belong to individual into practice. The methods of involvement could be: Meetings, presentations, Group facilitation, Delegating, develop and share a change plan. Step 4.Map their profile: Mapping their profile according to their level of influence and Level of interest is significant element of analysing stakeholder profile. Step 5.Optimise their support: Stakeholder analysis is the effective way of involving Stakeholders into direct and indirect approach of Tesco activities. Optimising their support means, the support is provided by stakeholder is to utilise them in the best possible way. Utilise the support of stakeholders resources. Step 6.Monitor changes: Changes may come according to the demand of time. It is vital to monitor the changes may come potentially. [AC 8] AC 9.1: Evaluate the systems used to involve stakeholders in the planning of change: The involvement of stakeholder planning includes two steps include stakeholder analysis and commitment development. Evaluation the systems in the planning change: Advantages of stakeholder analysis and commitment development Disadvantages of stakeholder analysis and commitment development. Stakeholder analysis provide the information of the people who are directly and indirectly involved with Tesco. It is time consuming and lengthy process involved. It is the only way to identity the stakeholders who have high level of interest in the company. Low level of interest can bring less revenue in the organisation by the stakeholder By stakeholder analysis Tesco can know who are the people have high influence in order to bring the change Low level of influence and the disagreement of development can bring down the company motive intention for change. Stakeholder analysis and commitment development can give us the information of individual responsibility belongs to individual. It is time consuming and cost effective. Stakeholder analysis and commitment development can provide the information of identifying individual demand within the organisation. Individuals demand can be sometimes outrageous in order to bring the change. Evaluating the system of stakeholder planning can provide the idea of the effectiveness in terms of bringing the change. Advantage of and the disadvantage of the stakeholder analysis and commitment can give us information of how productive they could be in order to bring the change in self service till. 9.2. Evaluate the systems used involve the Stakeholders in the planning of change: Involvement of stakeholders planning includes Divergence and Convergence. Advantages Disadvantages Divergence and convergence may bring Structural, Technological, and operational change. Changes are always variable. Divergence and Convergence may the innovation in the organisation. Innovation may be very costly. Individual leadership style can be applied in different situation in order to bring the success in the organisation. Bad practice of leadership can be destructive for company. Organisational and national culture can be developed by adapting Divergence and Convergence on perspective of change. It may put the negative aspect on the culture. Evaluating the change of Stakeholder involvement can give a positive impact of applying the change in the company in order to adapt a change. Organisational structure and culture can be developed on the demand of situation in the case of being competitive in the market. [AC 9] AC 10: Creating a strategy for managing resistance to change: Resistance of change is the people in Tesco who dont want to bring the change in self service till. The type of resistance can be individual versus collective, passive versus active, direct or indirect, behavioural or verbal or attitudinal and can be minor or major. In order to frozen the resistance situation Tesco has identified the appropriate measure of managing a process. The process of managing the resistance is Participation and involvement: participation and the involvement of key stakeholder is one of the important process of solving the resistance. It plays the vital role of individual involvement and find out the proper solution. Everyone participation can bring the effectiveness of solving resistance. Education and communication: Education and communication process can be applied when the major stakeholder are not aware of the benefit of using self service till. The process of making individual educated and communicative can bring stakeholder co operation of productivity positively. Negotiation and compromise: Negotiation and compromise may arise when there is division within the group resistance. It is one of the possible way of solving the problem. It can resist the problem and work the group within a team. Implicit or explicit force: Solving the resistance is can be applied through implicitly and explicitly when the resistance need to be done quickly in order to bring the change. It is one of the over hasty process of bringing the change when its crucial to do. Facilitate influence: Supplying or facilitate the influence of authority can bring the change when there is need to sense the appropriate target. It becomes essential to make the key stakeholder to understand the value of change. Resistance of change can be arrived any time when the certain change need to be done. The strategy of managing the resistance is the major elements of bringing the intended change. [AC 10] AC 11: Develop the appropriate models for change: Kotters 8 steps change model: Step one: Create urgency For change to happen, it helps if the whole company really wants it. Develop a sense of urgency around the need for change. This may help me spark the initial motivation to get things moving. What to do: Identify the potential change and develop the scenarios showing that what could be happened in the future if the changes not taken Examine the opportunities that could be benefited in the long run. Discuss the change constructive way and give people dynamic reason to make them talking and thinking. Step two: Form a Powerful Coalition Convince people that change is necessary. This often takes strong leadership and visible support from key people within your organization. Managing change isnt enough I have to lead it. What to do: Identify the true leader who can bring the change in Tesco. Make them as a team within the change coalition. Ask the commitment to the people who will bring the change. Step three: Create a vision for change When I first start thinking about change, there will probably be many great ideas and solutions floating around. Link these concepts to an overall vision that people can grasp easily and remember. What to do: Determine the value of the change has central priority. Develop a short summery that will carry the vision to future of the organization. Carry out the good practice of the vision among the coalition. Step four: Communicate the vision What I do with my vision after I create it will determine My success. My message will probably have strong competition from other day-to-day communications within the company, so I need to communicate it frequently and powerfully, and embed it within everything that I do. What to do: Bring the discussion often about the change vision. Openly and honestly address what people think about the change. Lead the change by example. Step five: Remove obstacles If I follow these steps and reach this point in the change process, Ive been talking about your vision and building buy-in from all levels of the organization. Hopefully, my staff wants to get busy and achieve the benefits that Ive been promoting. What to do: Identify the leaders whose mail roles are to deliver the changes. Set up the organizational structure, job description and performance that can meet the identified change. Recognize and reward people for making the change. Step six: Create short term wins Nothing motivates more than success. Give my company a taste of victory early in the change process. Within a short time frame (this could be a month or a year, depending on the type of change), Ill want to have results that my staff can see. Without this, critics and negative thinkers might hurt my progress. What to do: Not to choose early target that are expensive and may not change happened. Make sure that the change can take place without help from any strong critics of the change. Step seven: Build on the change Kotter argues that many change projects fail because victory is declared too early. Real change runs deep. Quick wins are only the beginning of what needs to be done to achieve long-term change. What to do: Analyse what went right and what need to improve after making the change. Set up a goal to continue building the time that has achieved the change. Keep the idea alive and bring the new change leader from the change coalition. Step eight: Anchor the Changes in Corporate Culture Finally, to make any change stick, it should become part of the core of your organization. My corporate culture often determines what gets done, so the values behind your vision must show in day-to-day work. What to do: Discuss the change progress to the coalition in every chance and tell the success story about the change process. Include the values and the change ideas when hiring and training the new staff. Recognize the key members publicly of the change coalition and make sure that rest of the staff new and old remember their contribution. Create plans to replace the key leader of change as they move on to ensure their legacy is not lost or forgotten. Changes may take place at any time in any situation. The difficulties of the change are depending on the size and the length of the problem. Change is potential and vital, referring the unidentified and uncertain changes and take into action is compulsory in terms of change. Kotters eight steps model can help Tesco to identify the necessary change and make the change happen by adapting what action need to be taken. AC12. Plan to implement a model for change: Plan to implement a model for change is important in order to change. The models we can apply to make the change is depend the problem and identification of the change which may come in Tesco. A model of change is discussed below. Transformational Leadership: A contingency process of Transformational leader is who those encourage and simulate both does for the followers to achieve outstanding outcome and in the process of developing their own leadership Strategy according to the capacity. The followers get driven by the transformational leader in order to grow up and develop into the leadership strategy by responding to the individual leader and the Transformational leader provide empowerment and align the objectives and goals of the individual followers, the group, the leader and the organisation. To demonstrate the Transformational leader that could be a leadership strategy what drive the followers to succeed the expected performance (Bass, 1985, 1998). The accumulation of Transformational leadership has demonstrated that it is very important in every sector in every level (Avolio Yammarino, 2002). Transformational leadership is a very constructive process of making the job done. A leadership must be based to bring the change into action and implement it for the purpose of expected change. Transformational Leadership is perspective and constructive way of leadership which Tesco can apply in the leadership strategy in terms of brings the change. AC 13 Develop appropriate measures to monitor the progress: It is very important to monitor the progress after the changes has taken place. Monitor the progress is to identify how the changes taking place. There is various way of monitoring the progress which has been discussed below. Goal based Evaluation: In order to bring the change in set up a goal based on evaluation in Tesco. Goal base evaluation is a conducive way of monitor the progress when the changes are taking place. Outcome based evaluation: when the changes are taking place check out the outcome of the progress is very important way of implementing the change. Regular reports: Set up a monitoring team those will submit the report on regular based to identify whether the changes are taking place or not. Meetings: The meetings may take place on regular based between the coalition teams

Effect Of Exercise On Arterial Blood Pressure

Effect Of Exercise On Arterial Blood Pressure The aim of this experiment is to investigate the effects of different intensity of exercise on heart rate and arterial blood pressure in young healthy human subjects. Jumping jack exercise is used in this experiment by increasing the frequency of jumping which are 5, 10, 20, 25 and 30 cycles continuously for 5 sessions. The HR and BP were measured before and after the exercise for the study of hypothesis. Data showed that there is an increase in HR and BP among the subjects. Furthermore, with increasing intensity of exercise, the difference between the values before and after exercise also increased. However, diastolic blood pressure did not show any significant difference. The cardiovascular system is made up of the heart and circulatory system. The heart pumps blood to the organs, tissues, and cells of our body. Oxygen and nutrients are delivered by the blood to every cell of the body. On the other hand, carbon dioxide and waste materials are removed by the blood. It is important to understand the cardiovascular system in order to fully comprehend the physiological effects of exercise on the human body.1 The illustration shows the front surface of a heart, including the coronary arteries and major blood vessels. The heart is a myogenic muscular organ which acts like a pump to continuously send blood to our body cells. It has the shape of an upsided pear. The heart is located between the lungs in the middle of our chest. It has a double-layered membrane called a pericardium. The pericardium acts to protect the heart. The outer pericardium layer is attached by ligaments to our diaphragm and other parts of our body. The inner pericardium layer is attached to the heart muscle. There exists a coating of fluid separating the two layers of the membrane. This allows the heart to move as it beats and yet still be attached to our body.3 In this project, we would like to study the effects of exercise on heart rate and blood pressure. The formulated hypothesis is that exercise will cause an increase in heart rate, an increase in systolic blood pressure and a slight decrease or fairly constant diastolic blood pressure. Heart rate Heart rate is defined by the number of heartbeats per unit time, in minutes. The heart rate of a human being may change depending on the need for oxygen. When oxygen dependency increases, the heart rate increases. When oxygen dependency decreases, heart rate decreases. Heart rate is measured by counting the pulse of the body.4 Blood pressure Blood pressure is defined as the force applied on the walls of the arteries as blood is pumped throughout the body. Pressure is determined by the force and amount of blood being pumped and also determined by the size and flexibility of the arteries. Blood pressure is affected by many factors such as the individuals daily routine, diet, emotional state and posture.5 Blood pressure is measured by a device called the sphygmomanometer. It measures the magnitude of pressure required to block blood flow through an artery. Pressure is applied by the sphygmomanometer which cuffs a persons arm.6 The ideal blood pressure is below 120 over 80 (120/80). The systolic pressure is the number above and the diastolic pressure is the number below. Systolic blood pressure is defined as the blood pressure when the heart is contracting. Specifically, it is the highest arterial pressure during contraction of the left heart ventricle. Diastolic pressure on the other hand measures the pressure exerted by the heart when the heart is at rest. The mean arterial pressure is the average blood pressure of an individual. It can be determined by the following formula: MAP = DP + 1/3(SP DP)7 SP = Systolic pressure DP = Diastolic pressure Protocol From the group of 14 individuals, one individual is selected to take measurements of blood pressure and heart rate of the remaining 13 individuals. The 13 subjects consist of 3 males and 10 females, with an average BMI of 19.49. Firstly, the heart rate and blood pressure of the first individual was measured. Then, 5 cycles of the modified jumping jacks were performed. After the 5 cycles of exercise was performed, the subject was required to sit in an upright position, where blood pressure and heart rate was measured. The subject was also given 3 minutes as resting time. After the resting period, the first individual carried on with an increment of 5 cycles of the same exercise up until 20 cycles.(i.e.: 5 cycles, 10 cycles, 15 cycles, 20 cycles) This was done with the remaining 12 subjects. Standardization Anticipatory period All subjects were required to sleep at least 7 hours before the day of the exercise. No caffeine and alcohol diet has to be consumed 3 hours before the exercise. Subjects were required to eat one banana and one energy bar cracker 3 hours before the exercise was conducted. Proper sports attire was worn by all 13 participants. 5 minutes of resting period was given to each subject. Subjects were required to sit in an upright position while resting. Hand phones were switched off to avoid interruptions while doing exercise. Laughing and eating are prohibited during exercise for more accurate readings. Lastly, all subjects were in good health during exercise and are not under influence of any drugs. Exercise period During the exercise, activities such as laughing, talking and vigorous movements are not allowed. All candidates must keep their hands straight while doing jumping jacks, and must squat completely throughout the course of the exercise. The beat of the metronome was set at 84 beats per minute. Resting period All subjects were not allowed to consume any beverages and no other movements were allowed except the exercise mentioned. A resting period of 3 minutes was given to each subject. The same stopwatch was used to measure the resting period. Heart rate and blood pressure measurement Only 1 person was assigned to measure the blood pressure and heart rate of the 13 participants. Initial heart rate and blood pressure was performed 1 minute before the exercise was conducted. After conducting the exercise, heart rate and blood pressure was measured immediately. The heart rate was measured first followed by blood pressure. All subjects were required to sit in an upright position while getting their heart rate measured. The same sphygmomanometer and stethoscope were used to measure the subjects blood pressure. Methods to measure heart rate and blood pressure Heart rate Firstly, the palm side of the subject was turned facing up. The index finger was placed on the wrist of the subject, approximately 1 inch below the base of the subjects hand. The index finger is pressed down in the grove between the middle tendons and outside bone. A throbbing pulse should be felt. The number of beats was counted for 30 seconds, and multiplied by 2. This will give a heart rate of 1 minute.8 Blood pressure The sphygmomanometer was inflated to a little above 180mm Hg. This collapses the major arteries of the arm. Air is released by turning the air valve. The pressure should drop. When the first throbbing sound was heart, the systolic blood pressure was recorded. The sound heard following the first throbbing sound is the sound of blood flowing through the artery of the arm. This means the systolic blood pressure is higher than the pressure in the blood pressure cuff. The air valve continues to be released until no sound is heard. When no more sound is heard, the diastolic blood pressure is recorded.10 Exercise description Firstly, both feet are put together, with hands down on both sides. Candidates are required to jump to move both feet apart while both hands are raised 90 degrees from the body. They are required to jump again to move feet together and bring both hands together over the head by clapping. The exercise subjects then return to the 2nd position, where both feet are apart and both hands are 90 degrees from the body. Next, candidates then return to the initial position. Lastly, the candidate is required to squat once and then return to position one. Only after performing each of these steps is one cycle considered. Preparation Banana, energy bar cracker, metronome and stopwatch were prepared before the experiment. Type of exercise The exercise is a modified version of jumping jack. All subjects were required to complete the exercise based on the speed set by the metronome. Test subjects 3 male and 10 female students were chosen to carry out this experiment. The subjects are healthy individuals who do not smoke and do alcohol. The mean body weight was 57.69kg and the mean height was 165.19cm. Location of exercise IMU, Skills Centre. Apparatus Sphygmomanometer, stethoscope, stopwatch and metronome Interpretation of results Statistical test The one-way ANOVA turkey test was used to determine whether there were any difference in systolic blood pressure, diastolic blood pressure, heart rate and mean arterial pressure between the number of cycles of exercise. Null hypothesis: There is no difference in heart rate, systolic blood pressure, diastolic blood pressure and mean arterial pressure before and after exercise. Alternate hypothesis: There is a difference in heart rate, systolic blood pressure, diastolic blood pressure and mean arterial pressure before and after exercise. (Heart rate, systolic blood pressure, and mean arterial pressure increases, diastolic blood pressure remains the same or decreases slightly) Result interpretation From the results for table 2, it can be seen that the rate of heart rate increases when the number of cycles of exercise increases. Statistically, from the one-way ANOVA turkey test, the calculated p-value for heart rate was lesser than 0.05. If the calculated p-value was lesser than 0.05, this implies that there is a significant difference in heart rate between the number of cycles of exercise. From the graph obtained in figure 1, it can be seen that the heart rate increases steadily when the number of cycles of exercise increases. From the results for table 3, the result is similar to the result of table 2. Systolic blood pressure increases when the number of cycles of exercise increases. From the one-way ANOVA turkey test, the calculated p-value for heart rate was also lesser than 0.05. This implies a significant difference in heart rate between the numbers of cycles of exercise. From figure 1, it can be seen that the heart rate increases steadily when the number of cycles of exercise increases. From the results for table 4, the diastolic blood pressure decreases when the number of cycles of exercise increases. From the one-way ANOVA turkey test, the calculated p-value for diastolic blood pressure was also lesser than 0.05. This implies a significant difference in diastolic blood pressure between the numbers of cycles of exercise. From the figure, it can also be deduced that diastolic blood pressure decreases, however only slightly when the number of cycles of exercise increases. From the results for table 5, the mean arterial blood pressure seems equal throughout the cycles of exercise. When calculating the p-value using one-way ANOVA turkey test, the p-value was higher than 0.05. This implies there is no significant difference in the mean arterial blood pressure between the numbers of cycles of exercise. From the figure, it can also be deduced that the mean arterial pressure doesnt undergo any change as the number of cycles of exercise increases. Discussion Effects of Aerobic Exercise on Heart Rate The heart rate for an individual is 60 to 100 beats per minute. Heart rate per minute will increase depending on the frequency of physical activities the individual carry out. During exercise, muscles undergo aerobic respiration which requires constant oxygen supply. This is because the level of carbon dioxide in the blood increases due to the rising cell respiration of the muscles. Thus, the lack of oxygen results in a huge rush of oxygen intake through the lungs. An impulse is then sent to the sinoatrial (SA) node which causes the heart to beat faster. The increased oxygen intake activates the oxidation of lactic acid into carbon dioxide to be carried away. As a result, the muscles will produce the most amount of energy per mole aerobically.10 Oxygen, carbon dioxide and hydrogen ions (H+) are detected by chemoreceptors which are located at the medulla oblongata and parts of the peripheral nervous system. When exercising, H+ increases due to the excess carbon dioxide. A rise in H+ concentration activates the chemoreceptors which in turn send impulses to the inspiratory centre to increase breathing rate. Hence, heart rate increases. On the other hand, the lack of oxygen also causes a rise in breathing rate. The peripheral chemoreceptors are activated when large oxygen is reduced. Signals are then sent to the inspiratory centre to increase the breathing rate, and thus heart rate.11 Besides, lactic acid which dissociates into lactate and H+ during anaerobic respiration when exercising also results in a rise is H+ concentration. This in turn increases the heart rate by the same mechanism discussed above.12 Heart rate can also be altered by autonomic nervous system. Stimulation of the sympathetic nervous system causes an increase in heart rate as well as other factors such as stroke volume and systemic vasoconstriction.13 The stimulated sympathetic nervous system also acts to release glucose from the liver for energy. During exercise, heart rate rises rapidly due to the activation of sympathetic nervous system.14 Apart from that, the stimulated sympathetic nerves also release catecholamines such as epinephrine and norepinephrine. They work to cause the heart to beat faster by increasing the depolarization of sinus node. This increase of heart rate is known as tachycardia.15 Furthermore, the contractility of the heart muscles will also increase through binding of catecholamines with alpha-adrenegic receptors on the smooth muscles.16 The parasympathetic nervous system opposes the sympathetic nervous system which slows the heart rate especially when physical exertion such as exercise is over. This is due to the release of hormone acetylcholine which hyperpolarizes the membrane and inhibits heart rate. The slowing of heart rate is known as bradycardia.17 When resting after strenuous exercise, both autonomic nervous systems still work continuously to send impulses to the SA node. However, inhibitory is dominance over excitatory. As a result, vagal tone is said to be exhibited by the heart. In addition, if the vagal nerves are not innervating the heart, the heart rate will be slower than it would be.16, 18 Other than that, atrial reflex or known as Bainbridge reflex is initiated during exercise. This reflex involves in increasing the venous return and blood congestion in the atria. By stimulating the SA node and baroreceptor in the atria, the atrial walls are stretched which add on to the force as well as heart rate. As a result, the reflex action leads to a rise in sympathetic stimulation of the heart which in turn increases the heart rate.19 Another factor which contributes to an increase in heart rate is the body temperature. Metabolic rate increases during exercise. This causes the body temperature to rise when the metabolism in the body release energy as heat.15Consequently, sympathetic output at the heart will increase due to the impulses sent by the thermoreceptors to the somatosensory cortex and thus heart rate increase.18 Effect of Aerobic Exercise on Systolic Blood Pressure In this experiment, 13 subjects were required to perform a modified version of jumping jacks at different intensity levels. The exercise was performed in cycles where increased cycles of jumping jacks will increase the intensity of the exercise. The mean blood pressure of an individual depends on the amount of blood flow from the heart throughout the body and the net resistance of blood flow in the arteries of the body. Blood pressure is calculated via the following formula: BP = CO x PVR where, BP= blood pressure CO= Cardiac Output PVR=Peripheral vascular resistance During exercise, exercising muscles produces more carbon dioxide, thus this increases the blood partial pressure of carbon dioxide (PCO2) in the human body. As PCO2 increases, the need of oxygen intake into the human body increases. Oxygen consumption increases when PO2 decreases. Since oxygen is carried by the blood in the form of oxyhaemoglobin, therefore, the body would need to pump in more oxygen to accommodate for the lack of oxygen.20 From the equation BP = CO x PVR, increase in cardiac output increases blood pressure. As systolic blood pressure is the pressure when the heart is contracting, therefore the systolic blood pressure should increase with increasing exercise. During exercise, the systolic blood pressure of each experiment subject is seen to be increasing throughout each cycles of the exercise. From the table, it can be seen that the mean systolic blood pressure increased from 106.5 at resting blood pressure up to 135.5 when the exercise was conducted at 20 cycles. Thus, the experiment supports the claim that exercise increases systolic blood pressure. Effect of aerobic exercise on diastolic blood pressure Diastolic blood pressure is the blood pressure when the heart is relaxing. It is the blood pressure of our artery walls between heart beats. Diastolic blood pressure is affected mainly by blood volume, stroke volume and heart rate.21 Stroke volume (SV) is the difference between end-diastolic volume (EDV) and end-systolic volume (ESV). It is related by the following equation: SV = EDV ESV22 EDV is the volume of blood before the heart contracts and ESV is the volume of blood left in the heart after it contracts. Therefore, SV is the net volume of blood pumped out by the heart in 1 heart beat. During exercise, oxygen consumption increases, therefore the amount of blood needed to pump throughout the body also increases, therefore stroke volume increases during exercise. During exercise, the temperature of the human body increases. When this happens, the body undergoes negative feedback by dilating the arteries in the body. Vasodilation happens to increase the blood supply to around the tissues and also to take away heat from the body. Therefore, during exercise, cardiac output increases whereas peripheral vascular resistance decreases due to vasodilation. Thus, this causes the diastolic blood pressure to remain fairly constant throughout, or decrease slightly. From the experiment, the diastolic blood pressure decreases slightly over the course of exercise. As exercise was conducted, vasodilation could explain the lowering of diastolic blood pressure throughout the exercise. Effect of aerobic exercise on Mean Arterial Pressure (MAP) MAP is the average pressure of blood exerted on the walls of the arteries during the whole cardiac cycle. MAP is the product of cardiac output and total peripheral resistance. During exercise, cardiac output increases to meet the metabolic needs of skeletal muscles.23Total peripheral resistance on the other hand decreases due to vasodilation of blood vessels. However, total resistance of systemic circulation is kept constant due to constriction of arterioles in visceral organs such as the kidneys and gastrointestinal tract. Therefore, MAP increases in exercise due to the large increase in cardiac output.7 The equation to derive mean arterial pressure is as follow: MAP = DBP + 1/3 (SBP-DBP)7 Throughout the exercise, systolic blood pressure increases dramatically whereas diastolic blood pressure remains fairly constant or decreases slightly. Therefore, this elevates mean arterial pressure. From the experiment, the mean arterial pressure is fairly constant throughout the experiment. This could be due to the inaccuracy of the measured diastolic blood pressure. Besides that, the exercise could also be switched into a stress test, where subjects are required to perform physical exertion to their limits. A stress test could clearly show mean arterial pressure difference because cardiac output would be at its maximum. From the results obtained, it can be seen that the mean arterial pressure is fairly constant throughout the experiment. This could be due to the inaccuracy of the measured diastolic blood pressure. Besides that, the steady decrease in diastolic blood pressure could also override the increase in systolic blood pressure, thus causing the result of mean arterial pressure to remain constant throughout the experiment. Limitations Due to the limitations of the experiment, the obtained results were not that consistent and accurate when compared to the theoretical results. First of all, the sample size is rather too small and insufficient for statistical interpretation as it consists of just 13 members in the experiment. Gender factor affects the obtained results too. This is due to the imbalance number of females and males in the sample which is 2 males and 11 females. As different genders have different metabolism rate, this contributes to unwanted errors in the results. 10 Other than that, the resting period in between each set of experiment was inadequate due to time constrain. The heart rate and blood pressure were not allowed to return to the resting level before the consequent experiment is carried out. In addition, due to two different people in measuring the heart rate and blood pressure, it leads to variations in determination of the final readings of the results. There might also be confusion of auditory and visual cues especially when hearing for the diastolic pressure. Further Studies In order to improve the studies, a larger sample size can be used to increase accuracy of the results. When a larger sample size is used, more comparisons can be made between the differences of genders, age, BMI, as well as the frequency of exercise. Besides, the time of the resting period can be modified to be longer. This is to ensure that the heart rate and blood pressure have returned to the resting level before the next set of experiment starts in order to reduce the inconsistency of the results. Conclusion From the experiment, the results show that there is an increase in heart rate and systolic blood pressure. However, diastolic heart rate showed a decrease. Calculated mean arterial pressure(MAP) remained constant throughout different exercise intensity. However, this could be due to several reasons discussed as of above.