Australian Journal Of Emergency Management â€Myassignmenthelp.Com

Question: Discuss About The Australian Journal Of Emergency Management? Answer: Introducation The event of the black Saturday bushfires is, to date, one of the biggest recorded disaster in the state of Victoria. It was a series of fires that started in January 2009 with the biggest bushfire disaster happening on the 7th of February. It was responsible for the deaths of 171 people and the destruction on 2006 homes throughout the state. Though the ignition of the fires is still thought to be arson, no party has been identified as having orchestrated the event and as such, it has been considered and treated as a natural disaster. The Victorian Royal Commission was tasked with the management of preparing a final report in order to identify probable causes and also help generate a network of solutions in case of an emergency in the future. While a suspicion remains that the fires started as a results of arson, it is also attributable to the climatic conditions of the area where a heat wave had provided a surge in temperatures. House Loss Survey Findings From the house loss survey, it is evident that not much planning had been done prior to the fires to provide for a preventive solution. The state government, people and nation as a whole had been using policies that, while effective in dealing with smaller fires, could not be implemented on a fire event of the magnitude of the Black Saturday fires. Numerous houses and property that were lost could have been salvaged or saved had effective planning been done. It was noted, however, that the disaster management operations by both the government and non-governmental organizations were exemplary and it is because of them that a large portion of the affected areas survived (Victorian Bushfires Royal Commission, 2010). National Level: At a national level, planning activities for the eventualities of a fire disaster were misplaced as suggested by Denis OBryan in his paper House loss rate in a severe bushfire. He goes on to clarify that, following a paper by Ahern and Chladil written in 1999 in response to a similar bushfire crisis, it was suggested that close proximity to vegetation is directly proportional to the chance of a residential structures being consumed the same fire (Ahern and Chladil, 1999). OBryan in his paper called it out as a policy based on misquoted text (O'Bryan, 2014). It was noted that the correlation between proximity to vegetation, trees and presence of trees, proximity of combustible materials to the house or other vegetation in the compound, and the damage to houses and property was totally financial as both affected and unaffected houses had similar statistical values. It is further suggested that, rather than distance between vegetation and trees, the relevant authorities should have concentrated on distance from the ember source as the primary parameter for prevention of damage to residential property by the fires (O'Bryan, 2014). State and Territory Level: Both OBryans paper and the commissions report indicate that there were inadequate regulatory policies for the prevention of the bushfires. The commissions report indicate that the preparatory advice given by the County Fire Authority (CFA) was also not sufficient to help residents plan well in order to prevent fire damage to homes. This is indicated by the fact that 24% of houses that were prepared in compliance to the CFA advice were still either damaged or destroyed with casualties and fatalities still being reported in these incidents (O'Bryan, 2014). The government taskforces research also indicated that some residents were caught up in the fire because no timely information about it had been given and only noticed when it was too late. A large number of the people interviewed report having gotten the information about the fire and its whereabouts from friends and family who had either been affected themselves or had gotten the information from some other source. It has been reported that, while most radio and television stations talked about the fire, they did not air warning messages in good time. This and other sources indicate that a majority of the residents who got an evacuation message either via radio or via some other means only got it when it was too late to do anything but escape immediately (Booth et al., 2015). This indicates a flaw in the disaster communication system, an observation which was also made later by the Queensland Flood Commission of Inquiry after the 2011 Brisbane flooding (Insurance Council of Australia, 2011). While the government cannot entirely be blamed for untimely information, it raises a few eyebrows when the lack of it may have been directly or indirectly responsible for the deaths of 171 people. The following graph shows the disasters that have occurred in Melbourne over the last century and their location Individual/ Household Level: Another thing learnt from the house loss survey is the ineffectiveness of the prepare, stay and defend or leave early strategy. This is because, as seen in the overall demographics, a majority of the people who died, died in their homes. Some died in their yards abut as seen in the reports and data presentation, most people who died did so trying to defend their homes. The policy advises to either leave early or stay behind and prepare well for the fire. This advice may have been effective in a different scenario but with the poor communication in this particular case, most people did not have time to adequately prepare for the fires (McLennan et al., 2012). While some people were unprepared because of lack of enough time due to poor communication, some were unprepared because they did not see the need to. This is evidenced in the report when 4 out of every 5 people interviewed who were unprepared for the fires acknowledge that they did not see the need to. This has raised questions about the state and national governments role in nursing proper bushfire preparedness. For a state that had experienced a similar disaster but of a slightly lesser magnitude back in 1999, it would be expected that they would have had preparatory measures at least when the first fires broke out. However, it can be noted that a large factor contributing to how the people reacted was an assumptive attitude that sought to play down the threat until it was too late (O'Bryan, 2014). Conditions Giving Rise To Property Losses Among the conditions that gave rise to these losses are the poor advisories and regulations. This is evidenced above by the fact that CFA advisories on preparedness still did not help preserve the buildings affected by the fires. Another example is given where 12% of houses that were destroyed or damaged were compliant with either AS 3959 while another 14% were compliant with WMO regulations. The compliance to those regulations seemingly made no difference to the preservation of the houses and property. This shows a fault in the regulatory measures put in place as they were not effective at the time (O'Bryan, 2014). Another condition that provided for the losses was the attitude of the people on the wake of the disaster. A majority of the people who had not prepared their houses for disasters are noted to have not done so because they saw no need to. While it can be argued that the bushfires caught the nation by surprise, it is also a wonder that people living in areas with bushes would not put up the right measures in order to put up a formidable defense. While this condition is not attributable to the loss of property, it cannot be attributable to the loss of life (Hayes et al., 2010) Another condition that proved to contribute to the loss of houses and other effects is the lack of proper communication. As the reports indicate a very late warning alert form the radio stations, it is assumable is that poor condition did serve as a condition for the overall fire effect. In the past, proper communication has helped people going through a natural disaster similar to the one in this case. It is therefore possible to assume that it would have a similar effect on the population in question. Poor communication in this case includes with television and radio (Attiwill and Adams, 2013). Contributions Of The Victorian Royal Commission Final Report Among the contributions of the Victorian Royal Commission Final Report, the biggest is the identification of the sources and possible causes of bushfires and how they spread. Despite having experienced a similar tragedy of less magnitude back in 1999, the data, having been compared has shown some consistency ruling out the coincidences and unverified information. The repetitive data was compiled both by the states commission and independent parties either consulted by the state or publishing their work online. With this information, further preparation plans can be drawn and better preparation methods can be achieved. The information here provides a reference point in case of any planning activities (ONeil and Handmer, 2012). The report indicated that a lot of policies and regulations that were in place then had been either ineffective or not implemented well enough. One of the best examples of this is the fact that 24 out of 26 houses burnt up completely were located in Marysville, a region that has had strict building codes. The building codes, having been highly prioritizing, must have given a false sense of preparedness leading to many losing their lives and property. This report has therefore contributed to the body of knowledge about bushfires and the then method of preparedness in case of further study. The report released also highlighted the need for further research on bushfires. It provided a starting point offering statistical data both for the affected regions, property and individuals and the mode of both ignition and spread. It is with this in mind that researchers have been able to recommend solutions for the unpreparedness. The reports contribution to the research sector, while not entirely exhaustive has also helped study the human behaviour in a hid to provide for better interventions in the future. Further researches and comparisons have been done and a database created allowing for accurate and timely information management (ONeill and Handmer, 2012). The report, in highlighting the behavioural tendencies of the people, also contributed to identifying possible places and centers of mass relief. When the fires broke out and people ran, a majority of them, as indicated in the report, admitted to running to public spaces e.g. schools, parks, hospitals, police stations and churches. These places, at the time, seemed more secure than their homes. Having observed this, we can say that the report contributed to disaster management of recurrent and similar crises. While this is different from personal preparedness, disaster management goes a long way in mitigating the effects of the disasters and helping the people affected deal with the aftermath of it all (Hughes and Mercer, 2009). Conclusion: It is noteworthy that, aside from a few regulations that have been incorporated to enable the government to mitigate the effect of the fire, that no lasting solution has since been established. With this in mind, it is also noteworthy that fire preparation is important both by the individual or house hold, or the regional authority. As such, further research is still needed on this field in order to improve the chances of both human and property survival (Ladds et al., 2011) References Ahern, A., and Chladil, M., 1999. How far do bushfires penetrate urban areas? In Bushfire 99 Australian Bushfire Conference, Albury. Attiwill, P. M., Adams, M. A. (2013). management, inquiries and politics in the eucalypt forests of Victoria, south-eastern Australia. Forest Ecology and Management, 294, 45-53. Booth, K., Tranter, B., Eriksen, C. (2015). Properties under fire: why so many Australians are inadequately insured against disaster. Handmer, J., Tibbits, A. (2005). Is staying at home the safest option during bushfires? Historical evidence for an Australian approach. Global Environmental Change Part B: Environmental Hazards, 6(2), 81-91. Haynes, K., Handmer, J., McAneney, J., Tibbits, A., Coates, L. (2010). Australian bushfire fatalities 19002008: exploring trends in relation to the Prepare, stay and defend or leave early policy. Environmental science policy, 13(3), 185-194. Hughes, R., Mercer, D. (2009). Planning to reduce risk: the wildfire management overlay in Victoria, Australia. Geographical Research, 47(2), 124-141. Insurance Council of Australia. (2011). Flooding in the Brisbane River Catchment, January 2011. Sydney: ICA Hydrology Panel. Ladds, M., Handmer, J., Magee, L. (2017). A pragmatic approach to improving Australian disaster data. McLennan, J., Elliott, G., Omodei, M. (2012). Householder decision-making under imminent wildfire threat: stay and defend or leave?. International Journal of Wildland Fire, 21(7), 915-925. ONeill, S. J., Handmer, J. (2012). Responding to bushfire risk: the need for transformative auditing. Environmental Research Letters, 7(1), 014018. O'Bryan, D. (2014). House loss rate in a severe bushfire. Melbourne, Victoria: Published by Red Eagle Bushfire Protection Services. Queensland Floods Commission of Inquiry. (2012). Final Report. Queensland: Queensland Floods Commission of Inquiry. Stephens, S. L., Adams, M. A., Handmer, J., Kearns, F. R., Leicester, B., Leonard, J., Moritz, M. A. (2009). Urbanwildland fires: how California and other regions of the US can learn from Australia. Environmental Research Letters, 4(1), 014010. Tibbits, A., Handmer, J., Haynes, K., Lowe, T., Whittaker, J. (2008). Prepare, stay and defend or leave early. Community Bushfire Safety.(Eds J Handmer, K Haynes) pp, 59-71. Victorian Bushfires Royal Commission. (2010). Victorian Bushfires Royal Commission Final Report. Publisher Parliament of Victoria, Australia. Whittaker, J., Handmer, J. (2010). Community bushfire safety: a review of post-Black Saturday research. Australian Journal of Emergency Business-law, The, 25(4), 7. Whittaker, J., Haynes, K., Handmer, J., McLennan, J. (2013). Community safety during the 2009 Australian Black Saturdaybushfires: an analysis of household preparedness and response. International journal of wildland fire, 22(6), 841-849. Whittaker, J., Mercer, D. (2004). The Victorian bushfires of 200203 and the politics of blame: a discourse analysis. Australian Geographer, 35(3), 259-287

A Report On The Novel 1984, By George Orwell Essays - Free Essays

A Report On The Novel 1984, By George Orwell Essays - Free Essays A Report on the novel 1984, by George Orwell The Importance of 1984 1984 was a very important book. First, it helped show where communism was headed, and helped create repulsion towards Communism. Before this book (and Animal Farm) a lot of people thought Communism was a good thing. The major mainstream generally neutral about it, but this book really opened up and showed what a bad idea it was, because it showed where communism was headed, not a place where everyone was equal, but a place that was once that and evolved into a horrible totalitarian government that could never be toppled. Second, I'm not sure whether this book could last for years for generations to enjoy. Although I hope it remains a favorite, it was really ment as a political novel of the 20th century. It could still last though, if people don't forget about the 20th century, or something similar to communism appears in the future. (and even if that doesn't happen, it will probably still be liked because it's just a good book) Also, it would be ironic if something sim! ilar to "newspeak" comes about, English is forgotten and this book would be unreadible. Third, I think this shows an interesting portrait of human life. It's true, the upper class always tries to stay upper, the middle class tries to join the upper class, and the lower class wants everyone to be equal. Forth, I think this book would go very good in a series. I don't mean exactly sequels, but the "world of 1984", a series of books that shows Big Brother's rise to power, and who he really is, stories about Eastasia and Eurasia, what's going on in the Inner Party, a visit to the place where the telescreens are monitored, et cerera (by the way, I think there might be a sequel, I'm not sure. I saw a book that's supposed to be similar, only it's in the year 2000 and written by a different author, and it was written in the last two years) Well, I hoped I proved why 1984 is my favorite book, I guess. Summary of 1984 This story takes place in London, Airstrip One, formally called England, before it joined with North America, South America and some small European countries to form Oceania, which is based on the Ingsoc (English Socialism) political structure, which consists of Big Brother, the Inner Party, the Outer Party, and the proles. Big Brother is the mysterious elite totalitarian leader, whom the Outer Party adores. Only his voice is heard on the telescreen (a two direction broadcasting television, used for constantly pumping propaganda into people while monitoring them simultaneously), and a picture of him is posted on the walls. No one knows where he resides, and no one knows what his real name is. Then there's the elite, the Inner Party. They're upper class, and their main focus is to keep the middle class (the Outer Party) and the lower class (the proles) in line, and prevent them from getting to their status or starting revolutions or something. They get the Outer Party in line by getting them to love Big Brother, torturing them, and constantly pumping their heads with propaganda. They get the proles in line by keeping them ignorant, by giving them entertainment and such to keep them happy, and keep them ignorant about the suffering and injustice going on. If the proles wished so, they could easily overthrow the party. The book's main character is named Winston Smith, and he's from Airstrip One. He works at the Ministry of Truth, a place where propaganda is made, and media is changed and edited. Winston's job is editing old copies of The Times, which is the newspaper in London. Winston had been a thought criminal, which is someone who thought against Big Brother or the establishment, even very slightly. Winston bought a diary, and wrote "DOWN WITH BIG BROTHER" in it, as kind of a way to express himself and his rebelliousness on paper. Soon, Winston has an affair with a women named Julia. They rebel against Big Brother by loving each other, and having sex. Love and sex are against Big Brother because they divert love and energy away from him. Winston

Free Essays on Death of Patriots

While covert ground operations continued, Air Force Gen. Richard B. Myers said the fight against the ruling Taliban regime and Osama bin Laden's al-Qaida terrorist network is ``a war we must win if we want to maintain our freedom.'' ``We have no options here,'' the Joint Chiefs of Staff chairman said on ABC's ``This Week.'' The bombing that began Oct. 7 has ``hit a lot of their training camps so they won't be doing any training in the near future in Afghanistan,'' Myers said. The goal is ``to squeeze out al-Qaida and diminish the Taliban's influence.'' As has been the Pentagon's practice, Myers would not describe the continuing missions, citing safety concerns for troops. ``I doubt if a coach is going to give away his game plan for today before he executes that plan,'' he said, ``I think the American people understand why we have to keep the details of our operations confidential.'' Asked whether U.S. forces would kill bin Laden on sight, Myers said ``it depends on the circumstances.'' ``If it's a defensive situation, then bullets will fly, but if we can capture somebody then we'll do that,'' he said. Senior Bush administration official said Sunday that the president signed an order last month directing the CIA to destroy bin Laden and his communications, security apparatus and infrastructure in retaliation for the Sept. 11 World Trade Center and Pentagon attacks. Bush also added more than $1 billion to the spy agency's war on terrorism, most of it for the new covert action. Myers said Saturday's campaign - involving Navy strike aircraft, several Air Force bombers and a few Air Force fighter-bombers - was conducted on much the same scale as the day before, when about 100 aircraft attacked 15 target areas, including Taliban air defenses and ammunition and vehicle storage areas. Myers would not discuss current U.S. ground operations under way inside Afghanistan. However, a senior defense official, speaking on condition of anonymity, s... Free Essays on Death of Patriots Free Essays on Death of Patriots While covert ground operations continued, Air Force Gen. Richard B. Myers said the fight against the ruling Taliban regime and Osama bin Laden's al-Qaida terrorist network is ``a war we must win if we want to maintain our freedom.'' ``We have no options here,'' the Joint Chiefs of Staff chairman said on ABC's ``This Week.'' The bombing that began Oct. 7 has ``hit a lot of their training camps so they won't be doing any training in the near future in Afghanistan,'' Myers said. The goal is ``to squeeze out al-Qaida and diminish the Taliban's influence.'' As has been the Pentagon's practice, Myers would not describe the continuing missions, citing safety concerns for troops. ``I doubt if a coach is going to give away his game plan for today before he executes that plan,'' he said, ``I think the American people understand why we have to keep the details of our operations confidential.'' Asked whether U.S. forces would kill bin Laden on sight, Myers said ``it depends on the circumstances.'' ``If it's a defensive situation, then bullets will fly, but if we can capture somebody then we'll do that,'' he said. Senior Bush administration official said Sunday that the president signed an order last month directing the CIA to destroy bin Laden and his communications, security apparatus and infrastructure in retaliation for the Sept. 11 World Trade Center and Pentagon attacks. Bush also added more than $1 billion to the spy agency's war on terrorism, most of it for the new covert action. Myers said Saturday's campaign - involving Navy strike aircraft, several Air Force bombers and a few Air Force fighter-bombers - was conducted on much the same scale as the day before, when about 100 aircraft attacked 15 target areas, including Taliban air defenses and ammunition and vehicle storage areas. Myers would not discuss current U.S. ground operations under way inside Afghanistan. However, a senior defense official, speaking on condition of anonymity, s...

Documentary about my grandfather's, Lawrence Weishuhn's contribution Research Paper

Documentary about my grandfather's, Lawrence Weishuhn's contribution to World War II - Research Paper Example The military personnel that participated in this war have received various acknowledgement and appreciation from the American people. Lawrence Weishnuhn fought in the Fifth army in the Allied forces during various campaigns. He received EAME (European-African-Middle Eastern) Campaign Medal, containing seven bronze stars, is a military decoration in the US armed forces (Pouge 12). It was created to acknowledge those in military service during the European Theatre in the WW II. He also received a distinguished Unit Badge. In addition, my grandfather earned himself a Good Conduct Medal. This paper will focus on discussing the various battles and wars that were fought by Lawrence Weishuhn. It will also demonstrate the strategies employed by the Allied forces which gave them victory over the Axis forces. The Balkan Campaign begun on October 1940 to June 1940 (McGowen 15). It was the invasion of Yugoslavia and Greece by the Axis forces. It was stated by the failed invasion of the Italian forces in Greece and ended following the capture of Crete by the Germans. The Italians attacked Greece from Albania. However, the Greece counter attack was so strong that the Italian forces returned to Albania. The effort by Italians to invade Greece was unsuccessful. Later on, Germans successfully invaded Greece after the capturing of Yugoslavia. The war ended with the unconditional surrender of the Yugoslavian army in 1941. Germany attack on Yugoslavia was due to the fear that the UK would launch a bomb on the Romanian oilfields which supplied Germany with oil. It also sought to restore the lost Axis Alliance prestige after the Italian Fascist has lost the battle in Greece. The German force launched various bombing attacks on Yugoslavia. On April 6th, Adolf Hitler, ordered the institution of Operation Punishment on the capital city of Yugoslavia (McGowen 45). During this attack, about 300 aircrafts, consisting mainly of Junkers Ju 87, along with a

Gideon v. Wainwright Case Study Example | Topics and Well Written Essays - 3000 words

Gideon v. Wainwright - Case Study Example In Betts v. Brandy, 316 U.S. 455 (1942), the court modified this doctrine slightly, ruling, â€Å"that whether or not a lawyer was required would depend on the circumstances of whether a lack of representation affected a denial of due process, rendering the trial unfair. Due to the difficulty of proving the high standard of a due process violation, nearly all such cases involved the death penalty. This view had not changed by the late 1960’s. Today when an individual is apprehended by the police, he is informed of his constitutional rights; through being Mirandized, wherein he is informed that he is entitled to have representation and that if he can not afford an attorney, one will be appointed for him. In 1961 Clarence Earl Gideon had been charged with burglary for breaking into a pool hall in Panama City Bay County, Florida and taking money from the vending machines. He appeared in court too poor to afford counsel, whereupon the following conversation took place: The Court: Mr. Gideon, I am sorry, but I can not appoint counsel to represent you in this case. Under the laws of the state of Florida, the only time the court can appoint counsel to represent a defendant is when the person is charged with a 2 capital offence. I am sorry, but I will have to deny your request to appoint counsel to defend you in this case.... penitentiary. From his prison cell and making ample use of the prison library, Gideon appealed to the United States Supreme Court based on the fact that he had been denied counsel and therefore his fourteenth Amendment rights had been violated without due process of law. Mr. Gideon brought habeas corpus proceedings against the Director of the Division of Corrections. The Florida Supreme Court, 135 So 2 d 746, denied all relief, and Mr. Gideon brought certiorari. The United States Supreme Court granted certiorari to review judgment of the Florida Supreme Court denying habeas corpus on the ground that indigent defendant in criminal prosecution in state court has no right to have counsel appointed for him (372 U.S. 335) Mr. Justice Black held that the sixth Amendment to the federal constitution providing that in all criminal prosecutions the accused shall enjoy the right to assistance of counsel for his defense is made obligatory on the states by the3 fourteenth amendment, and that an indigent defendant in a criminal prosecution in a state court has the right to have counsel appointed too him. Like Gideon, Betts sought release be habeas corpus, alleging that he had been denied the right to assistance of counsel in violation of the fourteenth amendment, Betts was denied any relief, and on review this court affirmed. It was held that a refusal to appoint counsel for an indigent defendant charged with a felony did not necessarily violate the due process clause of the fourteenth amendment,

Nestle Analysis SWOT, Five Forces and Core Competencies

Nestle Analysis SWOT, Five Forces and Core Competencies Milkpak will position Nestlà © product as a high quality product consumer focused. Messages like They knows your taste better than us, Nestle Milkpak now at your door step; Add additional flavours to your life will help to portray Nestlà © picture clearly and distinctly. Milkpak will position Nestlà © product against the competitors and gain competitive advantage through the efficient promotional methods, using innovations, and by reaching closer to the target market through the arrangement of events like Basant, Valentine day and etc. In short consumers will view Nestlà © as a product providing highly quality, in terms of taste, customer focused and, at the same time reasonably priced as compared to others. 3.0 Core Competency of Nestlà © To pose Nestlà © product against the competitors, the company will be using differentiation strategy which will not only differentiate their own from others but also give an edge over others. Nestlà © core products will be very beneficial especially in terms of quality, health, and hygiene and most important consumer satisfaction. Nestlà © augmented products will include consumer satisfaction, warranty to retailers in terms of expire, delivery and after sales services. The companies all over the world get some competitive edge based on some features which other companies dont have. For example, as the Dell has the competitive edge over other computer manufacturer companies, because they use built-to-order Strategy while no other company in computer industry use this strategy. Similarly in Pakistan nestle has their competitive edge based on the strategies like product differentiation and customer oriented. Nestlà © is using the product differentiation strategy by providing the superior quality products. Their main focus is to keep the customers loyal. They bought shelve space in different departmental stores to attract the customers. They tried to reach each group of people in which they have succeeded. Besides, customer satisfaction is the focal point for the company. They provide hygienic products to their customers. Products are also verified by health and safety measures and international quality standards. Porter Five Forces 3.1.1 Threat of New Entrants: There is big number of food companies in the world; meanwhile the competitive between food companies are happened. Some companies have carved out role in which they support to dairy supply. These food companies are fearful of being squeezed out by the big players. Another threat for many food companies is other food services companies entering the market.15 Competing in a new industry requires resources to invest. Production of packed products requires huge investment of financial, human, technical, and marketing resources. Bargaining Power of Suppliers: The suppliers of food might not pose a big threat, because of the number of suppliers. Raw milk is standard commodity and is available in the open market from a large number of milkmen. If anyone refuses to sell its product then company can buy it from others who are already willing to sell to company. On the other hand, the importance of volume to supplier also considered as a threat. Suppliers also have less leverage to bargain over price because the company is purchasing the large volume of their milk and suppliers dont have much option to sell milk to others. Bargaining Power of Buyers The buyers will not post much of a threat to the food industry. Large clients have their own bargaining power with food companies. Large corporate clients like airlines and retailers pay millions of dollars a year. There are large numbers of distributors, who are buying and distributing the product, so their bargaining power is low and company have leverage to dictate implement its terms and conditions to distributors. Availability of Substitute There are few of substitutes in the food industry. Most of the food companies have similar suites of services. Companies focusing on their role usually have a competitive advantage, but this advantage depends on whether there are any barriers that preventing other firms from entering.15 Competitive Rivalry The food industry is highly competitive in nowadays. As a result, food industry has become more like a commodity, an area in which the food company with the low cost structure, greater efficiency and better customer service will beat out competitors. In long run, larger companies prefer to take over or merge with other companies rather than spend the money to market and advertise to people.15 Source of Cost Efficiency 3.2.1 Economy of scale Economy of scale determines cost efficiency based on time, and processing of the operations and labour cost. Nestlà © used new high-technology system machines to process all the products, like high-speed bottling system, packaging machine for increasing the output of the products so, it could save time of the operation in process, and save labour cost. The company do not need to hire more labour to operate the process, which is one of the key to save cost. 3.2.2 Experience Nestlà © has been serving Pakistani consumers since 1988, when parent company, the Switzerland-based Nestlà © SA, first acquired a share in Milkpak Ltd. Today Nestlà © is fully integrated in Pakistani life, and is recognized as the producer of safe, nutritious and tasty food, and leaders in developing and uplifting the communities in which they operate. Nestlà © Pakistan ensures that their products are made available to consumers wherever in the country they might be. Convenience is at the heart of the Nestlà © philosophy, and there aim is to bring products to peoples doorsteps. Resources 3.3.1 Tangible resources Nestlà © Milkpak produces in over 81 countries and achieves 98% of its turnover outside Europe. Nestlà © Milkpak is the worlds largest milk company, which does 98% of its business. It has an annual turnover of 70 billion Swiss francs, 522 new factories in 81 countries, 200 operating companies, 1 basic research outer and 20 technological development groups, has more than 231,000 employees and more than 8000 products around the globe. There are three companies co-ordinate the activities of some 200 operating companies around the globe. Intangible resources There are three different functions, Nestlà © Milkpak, holds the financial shares in the allied companies. It also checks the profitability of these companies and to ensure the profitability of the group as whole. Second, Nestlà © Milkpak, has two areas of activities that are research and technological development, and technical assistance. Beside this, it provides know-how in engineering, marketing, production, organization, management and personnel training on a continuous basis. The third company is Nestlà © World Trade Corporation that oversees the import and export of merchandise worldwide. 3.4 BCG Matrix Relative Market Growth Low High STAR (Growth) QUESTION MARKS (Introduction) CASH COWS (Maturity) DOGS (Decline) 3.4.1 Stars The stars are the high relative market share and high market growth. Nestlà © beverages are the stars in their business, because with the high quality and new designs which comes every now and then makes them more popular among the customers, because customer with upper class wants the quality and nestle offers the best quality food items. Besides, Nestlà © major products such as Nestlà © milk pack and Nestlà © water will lies in the category of star products, due to the needs of human in their life. 3.4.2 Question Marks The product which have high anticipated growth rate but low market share would be considered as question marks. The product which the company launch first time in Pakistan is Nestlà © Ice-cream would come under the question marks due to the unknown result whether successful or failed in the growth of business in future. 3.4.3 Cash Cows The cash cows are Nestlà © cereal and other baby food products. There is less competitive brand on these specific of products and Nestle was considered as a branded and reliable brand, so most of the consumers prefer to buy from Nestle. 3.4.4 Dogs The pharmaceutical products are Nestlà © Dog; because it has low-share business with low growth market especially when talk about Pakistani market. The company has to think on what it can do by improving the low share and growth market. 3.5 Product Life Cycle The product life cycle has been used to analyse the products development refer by the BCG matrix. Product life cycle has 4 stages consist of introduction, growth, maturity and decline. Nestlà © Ice-cream has been stated on the introduction stage because it is launched the first time in Pakistan. Next, the growth stage would be the food items like milk pack, water and etc, due to human need as Nestlà © has provided. On the other hand, Nestlà © cereal and baby food were stated in the maturity stage, due to less competitors. Lastly, Nestlà © pharmaceutical product is on the decline stage, because of the low share in business and low demand. In the product life cycle, it shows that Nestlà © Milkpak industry is now on the maturity stage, the company has been recognized by consumers. 3.6 SWOT Analysis (TOW Matrix) Strengths Worldwide fame of Nestlà ©. Efficient milk collection system. Keeping high quality standards. Integrated distribution and warehousing facilities. Large market share of innovative. Having Good reputation in the market by strong brand name i.e. Nestlà ©. Strong RD. Weaknesses Unable to compete in price sensitive segment of UHT milk market. Under-utilization of the capacity. Unable to fulfil the demand of local powder milk market. Opportunities Improving Economy. Population growth rate. High urbanization rate. High literacy rate. Flexible government policies for food industry. Have significant growth opportunities. May merge with other global businesses to eliminate competitors. Having Capable of expanding into other markets of the world. SO Increase production of quality milk to cater the unsatisfied demand. They should go in the product line of powdered milk. They should increase their exports. They should cater the wide range of unsatisfied demand by improving their distribution networks. WO As per the increase demand of the milk they should fulfill the demand as Nestlà © have the ability to expand. They should make a strong distribution system to cater to avail the full benefit of the growing market. They should adopt affective marketing strategies for the promotion of their product. Threats High inflation rate. Low purchasing power. Decrease in GDP growth rate. Increasing interest rates. Recessionary period in business cycle. Competition with the new entrants. ST Invest more on the dairy product line as there is still a large chunk of the market which require modernization. Introduce new technology for quality assurance and better productivity. WT The co-ordination between different departments should be improved it will lessen the bureaucratic cost and increase the efficiency of the company.

Fin 486 Final Exam

Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) The primary emphasis of the financial manager is the use of A) cash flow. B) profit incentives. C) organization charts. D) accrued earnings. 1) _______ 2) All of the following are key strengths of a corporation EXCEPT A) low organization costs. B) readily transferable ownership. C) limited liability. D) access to capital markets. 2) _______ 3) The ________ is a measure of liquidity which excludes ________, generally the least liquid asset. A) quick ratio; accounts receivable B) current ratio; accounts receivable C) current ratio; inventory D) quick ratio; inventory 3) _______ 4) FASB Standard No. 52 mandates that U.S. based companies must translate their foreign-currency-denominated assets and liabilities into dollars using the A) average rate. B) historical rate. C) current rate. D) none of the above. 4) _______ Table 3.5 A financial manager at General Talc Mines has gathered the financial data essential to prepare a pro forma balance sheet for cash and profit planning purposes for the coming year ended December 31, 2004. Using the percent-of-sales method and the following financial data, prepare the pro forma balance sheet in order to answer the following multiple choice questions. (a) The firm estimates sales of $1,000,000. (b) The firm maintains a cash balance of $25,000. (c) Accounts receivable represents 15 percent of sales. (d) Inventory represents 35 percent of sales. (e) A new piece of mining equipment costing $150,000 will be purchased in 2004. Total depreciation for 2004 will be $75,000. (f) Accounts payable represents 10 percent of sales. (g) There will be no change in notes payable, accruals, and common stock. (h) The firm plans to retire a long term note of $100,000. (i) Dividends of $45,000 will be paid in 2004. (j) The firm predicts a 4 percent net profit margin. Balance Sheet General Talc Mines December 31, 2003 5) The pro forma total liabilities amount is (See Table 3.5) A) $650,000. B) $700,000. C) $500,000. 5) _______ D) $550,000. 6) If a United States Savings bond can be purchased for $29.50 and has a maturity value at the end of 25 years of $100, what is the annual rate of return on the bond? A) 6 percent B) 5 percent C) 7 percent D) 8 percent 6) _______ 7) If a person's required return decreases for an increase in risk, that person is said to be A) risk-indifferent. B) risk-seeking. C) risk-averse. D) risk-aware. 7) _______ Table 8.5 Cuda Marine Engines, Inc. must develop the relevant cash flows for a replacement capital investment proposal. The proposed asset costs $50,000 and has installation costs of $3,000. The asset will be depreciated using a five-year recovery schedule. The existing equipment, which originally cost $25,000 and will be sold for $10,000, has been depreciated using an MACRS five-year recovery schedule and three years of depreciation has already been taken. The new equipment is expected to result in incremental before-tax net profits of $15,000 per year. The firm has a 40 percent tax rate. 8) The initial outlay equals ________. (See Table 8.5) A) $44,100 B) $41,100 8) _______ C) $38,800 D) $38,960 Table 9.6 Nuff Folding Box Company, Inc. is considering purchasing a new gluing machine. The gluing machine costs $50,000 and requires installation costs of $2,500. This outlay would be partially offset by the sale of an existing gluer. The existing gluer originally cost $10,000 and is four years old. It is being depreciated under MACRS using a five-year recovery schedule and can currently be sold for $15,000. The existing gluer has a remaining useful life of five years. If held until year 5, the existing machine's market value would be zero. Over its five-year life, the new machine should reduce operating costs (excluding depreciation) by $17,000 per year. Training costs of employees who will operate the new machine will be a one-time cost of $5,000 which should be included in the initial outlay. The new machine will be depreciated under MACRS using a five-year recovery period. The firm has a 12 percent cost of capital and a 40 percent tax on ordinary income and capital gains. 9) The payback period for the project is (See Table 9.6) A) between 4 and 5 years. B) 2 years. C) 3 years. D) between 3 and 4 years. 9) _______ Table 10.1 A corporation is assessing the risk of two capital budgeting proposals. The financial analysts have developed pessimistic, most likely, and optimistic estimates of the annual cash inflows which are given in the following table. The firm's cost of capital is 10 percent. 10) If the projects have five-year lives, the range of the net present value for Project B is approximately ________. (See Table 10.1.) A) $201,000. B) $255,410. C) $303,280. D) $80,560. 10) ______ 11) The ________ is the firm's desired optimal mix of debt and equity financing. A) target capital structure B) book value C) cost of capital D) market value 11) ______ Table 14.5 Caren's Canoes is considering relaxing its credit standards to encourage more sales. As a result, sales are expected to increase 15 percent from 300 canoes per year to 345 canoes per year. The average collection period is expected to increase to 40 days from 30 days and bad debts are expected to double the current 1 percent level. The price per canoe is $850, the variable cost per canoe is $650 and the average cost per unit at the 300 unit level is $700. The firm's required return on investment is 20 percent. 12) What is the cost of marginal bad debts under the proposed plan? (See Table 14.5) A) $765 B) $5,100 C) $383 D) $3,315 12) ______ 13) Much of the commercial paper is issued by A) venture capitalists. C) small businesses. 13) ______ B) commercial finance companies. D) small manufacturing firms. 14) The part of finance concerned with design and delivery of advice and financial products to individuals, business, and government is called A) Financial Manager. B) Financial Services. C) Managerial Finance. D) none of the above. Table 2.1 14) ______ Information (2005 values) 1. Sales totaled $110,000 2. The gross profit margin was 25 percent. 3. Inventory turnover was 3.0. 4. There are 360 days in the year. 5. The average collection period was 65 days. 6. The current ratio was 2.40. 7. The total asset turnover was 1.13. 8. The debt ratio was 53.8 percent. 15) Inventory for CEE in 2005 was ________. (See Table 2.1) A) $32,448 B) $ 9,167 C) $36,667