Free Essays on Violence In Media

I believe that the media have little to do with the expansion in brutality. An excessive number of individuals attempt to put the fault of their activities on some other person or thing. I feel that there are a few stages that ought to be taken to dispose of viciousness. Variables that are to be faulted for brutality are guardians jobs in their kids' lives and moral obligation. Results ought to be all the more viably completed. Options to viciousness ought to be empowered and rehearsed on a more prominent scope. I imagine that the way toward disheartening viciousness should start at home. Guardians should raise their kids with the qualities and ethics to act capably and assume the fault for their own activities. Guardians should act in a way than mirrors this hypothesis. A great many people can control their activities and cease from savage acts. On the off chance that guardians empower better conduct, at that point kids will do this conduct all through their grown-up lives. At the point when individuals see viciousness in the media, they are regularly indicated that there are no outcomes of brutality. Individuals know the distinction among the real world and dream. As a general rule, there are results, nonetheless, they are not generally as severe as they could be. Individuals ought to know about these outcomes, what's more, they should assume liability for their own activities. My next point is that on the off chance that outcomes were inforced progressively, at that point this would demoralize individuals from falling back on savagery. At the point when individuals see that others are being rebuffed for their negative activities they will see that wrongdoing doesn't pay. This will keep more individuals from perpetrating these violations and savage acts. Individuals are engaged by savagery. Media show what crowds are keen on. I imagine that there is no mischief in this. This is the point at which the idea of the real world and dream become included. Individuals realize that at the point when they are watching these projects they are phony or dream. Individuals watch these projects to get away from this present reality and retreat to a wo... Free Essays on Violence In Media Free Essays on Violence In Media I imagine that the media have little to do with the expansion in brutality. Such a large number of individuals attempt to put the fault of their activities on some other person or thing. I feel that there are a few stages that ought to be taken to take out brutality. Components that are to be faulted for brutality are guardians jobs in their kids' lives and moral obligation. Outcomes ought to be all the more viably completed. Options to brutality ought to be energized and polished on a more noteworthy scale. I imagine that the way toward debilitating savagery should start at home. Guardians should raise their kids with the qualities and ethics to act mindfully and assume the fault for their own activities. Guardians should act in a way than mirrors this hypothesis. A great many people can control their activities and cease from fierce acts. On the off chance that guardians support better conduct, at that point kids will do this conduct all through their grown-up lives. At the point when individuals see viciousness in the media, they are frequently indicated that there are no outcomes of viciousness. Individuals know the contrast among the real world and dream. In actuality, there are results, notwithstanding, they are not generally as severe as they could be. Individuals ought to know about these outcomes, also, they should assume liability for their own activities. My next point is that on the off chance that results were inforced increasingly, at that point this would demoralize individuals from falling back on brutality. At the point when individuals see that others are being rebuffed for their negative activities they will see that wrongdoing doesn't pay. This will keep more individuals from carrying out these violations and vicious acts. Individuals are engaged by brutality. Media show what crowds are keen on. I believe that there is no damage in this. This is the point at which the idea of the real world and dream become included. Individuals realize that at the point when they are watching these projects they are phony or dream. Individuals watch these projects to get away from this present reality and retreat to a wo...

the use of fetal tissue in res essays

the utilization of fetal tissue in res articles The utilization of Fetal Tissue in Research and Transplants Fetal tissue investigate is done to give data to society that will in the long run lead to the avoidance of certain infections and ideally one day help to find a fix to some hopeless maladies. At this moment specialists are doing fetal tissue research to acquire data in zones of fetal tissue transplantation, the turn of events and creation of new immunizations, and in conclusion data on different birth imperfections and how to forestall or fix them. Fetal tissue investigate has added to the country's information on different maladies, new antibodies, and a potential treatment to help fix some hopeless sicknesses; be that as it may, numerous moral and legitimate concerns emerge. Every region of fetal research is done on three unique kinds of babies: the live, nonviable prematurely ended embryo, the baby in utero, and the dead hatchling. The main sort of research done is on the live, nonviable, prematurely ended embryo. This sort of research is done to consider the timeframe in which a hatchling can be kept alive after a premature birth so as to acquire cells or organs for transplant (Levy 44). A second sort of embryo that specialists probe is the baby in utero. This kind of research is finished by amniocentesis. Amniocentesis is the inclusion of a needle into the stomach divider and into the amniotic sac where it pulls back amniotic liquid to be tried. This kind of research gives no immediate inclusion the baby; be that as it may, it is risky in light of the fact that it has the chance of puncturing a delicate organ. The procedure of amniocentesis gives specialists and analysts data that recognizes sex-connected maladies and hereditary issue. Another way experimenters lead tests on the hatchling in utero is to give the mother explicit medications or treatment and afterward watch the consequences for the prematurely ended baby. Along these lines of inquiring about the baby in utero has direct contribution with the hatchling (Levy 44). The third sort of hatchling u... <!

Is Casual Dating Good for Relationships

Is Casual Dating Good for Relationships Relationships Print Is Casual Dating Good for Relationships? By Anabelle Bernard Fournier Updated on January 31, 2020 Westend61 / Getty Images More in Relationships Spouses & Partners LGBTQ Violence and Abuse Relationship scientists define casual dating as dating and sexual behavior outside of a long-term romantic relationship, and it is a common relationship among teenagers and young adults. In other words, casual dating is dating someone and possibly having sex with them when you are not engaged, married, or otherwise in a long-term commitment. Casual dating is not the same as hooking up, even though they have many things in common. Casual dating implies a desire to maintain a relationship, even though it is deemed casual. Hooking up, on the other hand, does not necessarily demand an emotional commitment on any level. Depending on your age and particular upbringing, you might consider casual dating a fun way to socialize, a stepping stone towards a more long-term relationship, or an immoral relationship because of its extramarital sex component (if sex is occurring). Many proponents of traditional marriage denounce casual dating as harmful and a precursor of divorce. Is it true that casual dating is harmful in the long term? Casual Dating and Divorce Relationship psychologists and sociologists have long believed that casual dating and cohabitation before marriage leads to higher divorce rates. However, the connection is difficult to establish on its own (there are lots of possible confounding factors), and there are many studies that show the opposite trend. How you ask questions and to whom you ask questions about casual dating deeply influence the type of results you get on this topic. If you ask happy couples in both casual and married relationships, they will both show similar patterns in satisfaction and happiness. The same goes for unhappy couples. In other words, evidence that shows couples as less happy and more likely to divorce could be a result of the specific couple and not the relationship style. Casual dating may or may not lead to more divorce rates in the future, depending on the person you are dating and the likelihood of a long-term relationship. Scientists cant quite agree. Are Casual Relationships Less Satisfactory? Another common effect attributed to casual dating is that these non-committed, casual relationships are less satisfying than more traditional, committed relationships. On the side of sexual satisfaction, a study published in the Canadian Journal of Human Sexuality found that although sexual satisfaction was higher for people in married, engaged, or exclusive relationships, there was still a positive link between casual dating and sexual satisfaction. Casual dating doesnt lead to unhappy sex life. What about general satisfaction with the relationship as a whole? The picture gets a little more complicated here. If you dont expect a future with the person you are dating, your relationship satisfaction will be lower than that of cohabiting, engaged or married relationships. If you do hope that your casual dating relationship will turn into something more long-term, then your satisfaction will be the same as that of cohabiting or married couples. It all depends on whether you feel the relationship is coming to an end or is in danger. Overall, if your expectations and attitudes towards casual dating are positive, its likely that youll be happy with your relationship and your sex life. Does Casual Dating Lead to Poor Mental Health? Some people also believe that casual dating leads to negative psychological effects such as low self-esteem, anxiety, and depression. Myths about the negative effects of casual dating and hooking up, especially for women, abound. What does the science say? On the topic of hooking up, research over one year with undergraduate students in the United States showed that only when people hooked up for non-autonomous (I didnt choose this) reasons had lower self-esteem, higher depression and anxiety, and more physical symptoms. In other words, when a person hooked up because of peer pressure, or because they couldnt consent (being under the influence of drugs or alcohol), it made them less happy. However, the participants who hooked up because they wanted to (autonomous) were just as happy as the students who didnt hook up at all. Whether hooking up and casual dating hurt people mentally depends on their own personal desires and attitudes towards these relationship styles. If you think that hooking up and casual dating is wrong, engaging in these things will make you feel bad. If you think that they are fun ways to meet people and explore future relationships, you will feel happy. It all depends on your point of view. Casual Dating in Relationship Progression If you dont think that casual dating is wrong or immoral, then you are likely to find this kind of relationship satisfying. More interestingly, researchers have begun considering casual dating as a step in a progressive relationship that eventually leads to long-term commitment or marriage. In a world where traditional marriage is retreating, people use casual dating as a way to test sexual and relationship compatibility with partners. In other words, casual dating tends to be an early step toward long-term partnerships. These relationships often begin with a meeting or even hooking up. The two people may start going on dates, perhaps not exclusively at first. If there is compatibility, people then tend to become exclusive, move in together, and eventually marry and have children. The difference between todays casual dating and the dating styles of previous generations is that now, casual dating more openly involves extramarital sex. This may be why older, more conservative groups tend to denounce casual dating as undesirable. However, since the non-marital, casual sex is widely accepted in modern societies, this attitude is less influential than it used to be. A Word From Verywell Casual dating will hurt you only if you are doing it against your will, if you have no hope for a future with the person, or if you think it is immoral. If you enjoy the sense of freedom that comes with developing relationships with a potential partner and testing the waters before making a commitment, casual dating is one step towards finding a person to possibly form a long-term commitment with in the future.

Case Governance and Sustainability at Nike - 578 Words

POM 642/ 442 Case: Governance and Sustainability at Nike This case was about the struggles with sustainability with in Nike as well as the fashion industry. Greenpeace came out and slandered Nike, Adidas, Puma, and several other fashion designers for pollution resulting in the manufacturing process of their products. There are several chemicals used in the process of manufacturing clothing and shoes. Several chemicals are also used in the Dying process. Although these facility are 3rd parties and these locations are not used by Nike it has fallen on them along with their competitors to reduce pollution with in the manufacturing process. At Nike the key decision makers are Hannah Jones and Eric Sprunk who have to present their findings†¦show more content†¦This is dangerous for all of those to live and travel to these communities. Nike along with the other companies have a corporate responsibility that their manufacturing process is safe and not hazardous to unsuspecting citizens. Failure to make a change could harm people and ultimately result in massive lawsuits and large amounts of negative publicity which could reduce Nike and others profitability also affecting the stock holders. As a manager I would look to set up a partnership with the other manufacturers, pose it as a greater good for the world, companies can unite to bring about great change. I would want to work with these other companies, find out what they have come up with and work together to reach zero waste. Puma has agreed to the same goal, if they have not changed what they told Greenpeace they must be doing something right. Working together would reduce the duplication of efforts, it would help make the investment dollars go further and help make the world a clean place. As a manager I would also seek to work with Greenpeace, having them as a partner would help to provide new ideas and help to show the effort being put forth to reach this goal. Working with Greenpeace can only help in this situation. I would want to make every effort to try and reach that goal before going to Greenpeace stating that this goal was too ambitious because that would result in worldwide protests giving more negative publicity to theShow MoreRelatedNike : Sustainability And Labour Practises1217 Words   |  5 Pagesmay question the sustainability of an organisations. Sustainability of organisations, nations, humanity is becoming a primary goal of the individuals and groups in all the different sectors anyone can think of. Leaders are very keen to launch new sustainability initiatives on a daily basis in order to make the surroundings more sustainable in nature. So now in this report which is based on the case study of â€Å"Nike: sustainability and labour practises†. This case illustrates that Nike was found guiltyRead MoreCase Study : Managing Ethical Organization1377 Words   |  6 PagesSteptoe BUSI-472 Case Assignment 2 November 26, 2014 Case Review: Managing Ethical Missteps—Sweatshops to Leadership in Employment Practices †¢ Why did Nike fail to address corporate social responsibility early on? The Nike brand was created in 1972, and renamed to Nike in 1978, and has since grown to be the largest worldwide seller of athletic goods, with approximately 168 Nike stores in the United States and a presence in about 160 countries. (Ferrell, O.., 2003) During the time Nike brand was createdRead MoreThe Sustainability Revolution1666 Words   |  7 Pagesâ€Å"The sustainability revolution is nothing less than a rethinking and remaking of our role in the natural world. Revolution is far reaching and is having a profound impact shaping everything from the places we live and work to the foods we eat and the endeavors we pursue as individuals and as communities (Edwards, 2005).† This author views corporate social responsibility as the guiding light for the sustainability revolution. This revolution includes all the ways that substantiality and corporateRead MoreThe Pillars Of Good Corporate Governance Framework2439 Words   |  10 Pagesmeaningful stakeholder governance prog rammes’. Therein lies huge dependencies on certain stakeholders having such capacities. All that said, overall, including stakeholder governance as one of the pillars of good corporate governance framework can result in a more comprehensive understanding of corporate risk and opportunity, drive learning, innovation and performance while contributing to a strong reputation and prosperity over time. In fact, it is said that stakeholder governance has the potential toRead MoreEssay about Bus 4991941 Words   |  8 PagesNike Inc. BUS 499 Strayer University Identify the company’s mission, vision, and primary stakeholders. Nike was founded by Bill Bowerman and Phil Knight. The two men met when Bowerman was coaching track and field at the University of Oregon and Knight was a middle distance runner on his team. After earning an MBA from Standford, Knight returned to Oregon and approached Bowerman with an idea to bring in low priced, high-tech athletic shoes from Japan to compete in the United StatesRead MoreIntroduction Traditionally, financial reporting discloses only financial information to determine2600 Words   |  11 Pagesnon-financial impacts for example the impacts on the environment and community. Hence, Triple Bottom Line (TBL) which was first described in 1994 by John Elkington can be an ideal integrated approach that fit in to this approach in order to support the sustainability growth of the companies. Triple Bottom Line incorporate three dimension of performance and measurement namely social (people), environment (planet) and financial (profit) which attached to the theory of sustainable development reporting. It isRead MoreAuret van Heerden is the President of the Florida Labor Association1034 Words   |  4 Pagesto be conducted. Internal governance is important and inexpensive and when put in place and should be a win-win for everyone including the supplier. Nike has become one of those global companies targeted by a broad range of campaigning NGOs and journalists as a symbolic representation of the business in society. In Nike’s case, the issues are those of human rights and conditions for workers in factories in developing countries. In the face of constant accusations, Nike has developed a consideredRead MoreWhy Nike Kicks Butt in Sustainability3007 Words   |  13 Pagesfor instruction at the authors institution and sharing with colleagues. Other uses, including reproduction and distribution, or selling or licensing copies, or posting to personal, institutional or third party websites are prohibited. In most cases authors are permitted to post their version of the article (e.g. in Word or Tex form) to their personal website or institutional repository. Authors requiring further information regarding Elsevier’s archiving and manuscript policies are encouragedRead MoreThe Sustainability Strategy of Nike Company Essay2748 Words   |  11 PagesIntroduction and the objective of the study Nike is one of the biggest footwear and apparel manufacturing companies in the word. The company came into existence in 1964 by Bill Boweman and Phil Knight and named it as the Blue Ribbon Sports. The company changed the name to Nike, which is Greek word meaning victory, in 1972 after producing a good brand of shoes that became popular among the athletes (NIKE, Inc., 2001). Since then, the company has been successful, dominating the world market of athleticRead MoreMGMT 479 UNDER ARMOUR Powerpoint Group Essay1065 Words   |  5 Pagesfor more details ïÆ'‘ Board of Directors ïÆ'“ ïÆ'“ ïÆ'‘ Included eight members within the timeframe of the Case period Varied backgrounds, most serving since 2004 or earlier Top Management ïÆ'“ ïÆ'“ ïÆ'“ ïÆ'“ Eight executives made up UA’s top management team Founder Kevin Plank was President, CEO, and Chairman of the Board Divided into operational departments Very experienced in the industry Corporate Governance *See note section for more details ïÆ'‘ Natural Environment ïÆ'“ ïÆ'“ Rapid growth in performance based

Miami University Acceptance Rate, SAT/ACT Scores, GPA

Miami University is a public research university with an acceptance rate of 75%. Located in Oxford, Ohio and founded in 1909, Miami University is one of the oldest universities in the country. For its strengths in the liberal arts and sciences, Miami University was awarded a chapter of the prestigious  Phi Beta Kappa  Honor Society. The university also appears among the top Ohio colleges and the top Midwest colleges. In athletics, the Miami University RedHawks compete in the NCAA Division I  Mid-American Conference  (MAC). Considering applying to Miami University? Here are the admissions statistics you should know, including average SAT/ACT scores and GPAs of admitted students. Acceptance Rate During the 2017-18 admissions cycle, Miami University had an acceptance rate of 75%. This means that for every 100 students who applied, 75 were admitted, making Miami Universitys admissions process somewhat competitive. Admissions Statistics (2017-18) Number of Applicants 30,126 Percent Admitted 75% Percent Admitted Who Enrolled (Yield) 17% SAT Scores and Requirements Miami University requires that all applicants submit either SAT or ACT scores. During the 2017-18 admissions cycle, 28% of admitted student submitted SAT scores. SAT Range (Admitted Students) Section 25th Percentile 75th Percentile ERW 590 670 Math 610 710 ERW=Evidence-Based Reading and Writing This admissions data tells us that most of Miami Universitys admitted students fall within the top 20% nationally on the SAT. For the evidence-based reading and writing section, 50% of students admitted to Miami University scored between 590 and 670, while 25% scored below 590 and 25% scored above 670. On the math section, 50% of admitted students scored between 610 and 710, while 25% scored below 610 and 25% scored above 710. Applicants with a composite SAT score of 1380 or higher will have particularly competitive chances at Miami University. Requirements Miami University does not require the SAT writing section or SAT Subject tests. Note that Miami University participates in the scorechoice program, which means that the admissions office will consider your highest score from each individual section across all SAT test Dates. ACT Scores and Requirements Miami University requires that all applicants submit either SAT or ACT scores. During the 2017-18 admissions cycle, 82% of admitted students submitted ACT scores. ACT Range (Admitted Students) Section 25th Percentile 75th Percentile English 25 33 Math 25 30 Composite 26 31 This admissions data tells us that most of Miami Universitys admitted students fall within the top 18% nationally on the ACT. The middle 50% of students admitted to Miami University received a composite ACT score between 26 and 31, while 25% scored above 31 and 25% scored below 26. Requirements Miami University does not require the ACT writing section. Unlike many universities, Miami University superscores ACT results; your highest subscores from multiple ACT sittings will be considered. GPA In 2018, the middle 50% of Miami Universitys incoming class had high school GPAs between 3.59 and 4.18. 25% had a GPA above 4.18, and 25% had a GPA below 3.59. These results suggest that most successful applicants to Miami University have primarily A and B grades. Self-Reported GPA/SAT/ACT Graph Miami University Applicants Self-Reported GPA/SAT/ACT Graph. Data courtesy of Cappex. The admissions data in the graph is self-reported by applicants to Miami University. GPAs are unweighted. Find out how you compare to accepted students, see the real-time graph, and calculate your chances of getting in with a free Cappex account. Admissions Chances Although Miami University in Oxford, Ohio accepts three-quarters of applicants, most successful applicants have grades and test scores that are above average. However, Miami University has a holistic admissions process involving other factors beyond your grades and test scores. A strong application essay and glowing letters of recommendation can strengthen your application, as can participation in meaningful extracurricular activities, work experience, and a rigorous course schedule. At Miami University legacy status can also play a role in the admissions process. In the graph above, the blue and green dots represent accepted students. As you can see, students who got in tended to have high school averages of B or higher (A or A- is more common), ACT composite scores of 23 or higher, and SAT scores of 1100 or higher (ERWM). Higher test scores and grades obviously improve your chances of getting an acceptance letter, and almost all students with A averages and above average ACT scores were admitted. All admissions data has been sourced from the National Center for Education Statistics and Miami University Undergraduate Admissions Office.

Transcendentalism Free Essays

Jess Ms. K Accelerated English 10A 26 November 2012 Transcendentalism Final Paper Eras pass, cultural views die out, and society evolves. While this occurs, we still have transcendental views, which are from the mid 1800s, in society whether we realize it or not. We will write a custom essay sample on Transcendentalism or any similar topic only for you Order Now Transcendentalism is a group of ideas in literature and philosophy developed in the 1830s and 1840s. It protested against the general state of culture and society. The idea was that spiritual reality transcends the scientific and is knowledgeable through intuition. Transcendentalists were idealistic, optimistic, and believed people already had everything they needed in life. In our culture today transcendental views are still expressed through media like the song â€Å"Live Like We’re Dying† Kris Allen, the movie â€Å"My Sister’s Keeper,† and the song â€Å"You’re Only Human† by Billy Joel. â€Å"Live Like We’re Dying† by Kris Allen is one example of transcendentalism in media today. This song fits transcendentalism because it is all about living everyday like it is our last, so we are sure to live life to its fullest. Live Like We’re Dying† is rally for people to not waste a minute of their lives and to be productive. Allen writes about how people only have so much time in their lives because they don’t live forever; as humans, who have a limited amount of time, it is necessary to use every second of it without regrets. Allen sings, â€Å"So if your life flashed befo re you, what would you wish you would’ve done†¦ Looking at the hands of time we’ve been given here This is all we got and we gotta start thinkin’ it Every second counts on a clock that’s tickin’ Gotta live like we’re dying† (Allen). This supports Allen’s cry to society that we can all use our time wisely and live like we’re dying (Allen). In the short story â€Å"Rip Van Winkle† by Washington Irving the main character, Rip, avoids his life and ends up sleeping away twenty years. Irving writes, â€Å" Foe Rip Van Winkle was old and gray, and twenty summers had passed away – – Yes, twenty winters of snow and frost – Had he in his mountain slumber lost†¦Ã¢â‚¬  (Irving). This is showing what can happen when we waste our lives; we end up unfulfilled and unsatisfied. An aphorism, or truth about life, that was written by Ralph Waldo Emerson, â€Å"insist on yourself; never imitate† (Emerson) is a prime example of being ourselves and choosing what we want to do, so we will have fulfillment in our future. The movie, â€Å"My Sister’s Keeper† also had transcendental influences. In the movie, Anna is brought into the world to be a genetic match for her sister, Kate, who is suffering from acute promyelocytic leukemia, or cancer in the blood and bone marrow. When asked to donate on of her kidneys, Anna refuses and sues her parents for medical emancipation. Before the case is closed, we find our Kate asked Anna to sue their parents; also, Kate gets a burst of energy and trying to live her life while she can, goes to the beach with her family dies before the case is decided; we later learn Anna won. The film ends with the family at their new annual vacation, Montana, Kate’s favorite place in the world. In going to the beach Kate enjoys her life while she still can; she lived deliberately. In the short story â€Å"Walden† by Henry David Thoreau, Thoreau tires to live intentionally, to front only the essential facts of life, and to see if I could learn what it had to teach, and not, when I came to die, discover that I had not lived† (Thoreau). Both Kate and Thoreau wanted to live their life with their choices and spend time while they still have time to spend. A final piece of media influenced by transcendentalism is the song â€Å"You’re Only Human† by Billy Joel. This portrays transcendentalism because it says we are only human so there will be bumps in the road of our lives but to stay positive and optimistic. Similarly, the song represented both of their characteristics. In the short story â€Å"Walden†, Thoreau writes, â€Å"I have several more lives to live, and could not spare any more time for that one† (Thoreau). This is like the song because it is about moving forward no matter what is in the past like a, â€Å"second wind† (Joel). Also an aphorism by Emerson says, â€Å"life only avails, not having lived† (Emerson). This means that everyone should live their own live, for people are only truly happy when they make decisions with confidence rather than fear. These all relate because they describe living life rather than running from it. Live Like We’re Dying†, â€Å"My Sister’s Keeper†, and â€Å"You’re Only Human† all provide examples of transcendentalism in our media today. Some people say transcendentalists were the first hippies, they’re right. Transcendentalists were something of their own, much like hi ppies. Coming our of a time period with strict views on society, transcendentalists were extremely iconoclastic. They did not conform to ordinary rules. Transcendentalists like Thoreau, believed in civil disobedience, a concept foreign traditional people. These are all important ideas to carry over into our modern era, for hey help the individual in ways other things cannot. How to cite Transcendentalism, Essay examples

Investment Evaluation of Renewla or Replacement of A Machine

Question: Discuss about the Investment Evaluation of Renewla or Replacement of a Machine. Answer: Introduction Lifestyle Furniture is a leading online retailer of solid hardwood furniture. The company provides a large variety of ranges of furniture and wishes to improve its production line by investing in new generation craft machinery. The company is in a dilemma whether to renew the existing machinery or replace it with a new one. Relevant cash flows have been developed for both the options and the respective NPV, IRR and PI have been calculated to decide which option is better in terms of profitability and timely return of investment. An NPV profile has been developed for both the options to see which has a better NPV profile. The incremental cash flows have been later adjusted for the effect of inflation. A base case scenario has been performed for both the alternatives where the companys expected profits have been considered as the base case and depending on these profits, the sales and operating and maintenance costs have been adjusted to see the changes in NPV and other NPV techniques. Investment Evaluation Incremental Operating Cash Flows The incremental operating cash flows have been prepared for both the alternatives by deducting all operating outflows like raw material, overhead, operating costs, advertising and marketing expenses, depreciation and interest on bank loan. The net income has been calculated after deducting taxes. The operating cash flows have been calculated by adding depreciation to net income. The net cash flows have been discounted by the cost of capital. The initial investment for alternative 1 comprises of cost of renewal, opportunity cost of not selling the machine and increase in working capital. The initial investment for alternative 2 comprises of cost of new machine, after tax proceeds from sale of old machine and increase in working capital. There is a terminal cost at the end of the project which includes all the cash flows on liquidation. The table of incremental cash flows is given in the appendices. NPV, IRR and PI Alternative 1 Alternative 2 NPV $ 2,60,512 $ 6,32,774 IRR 54% 82% PI 2.5 3.5 Based on the above incremental cash flow analysis, the company should opt for alternative 2 as it has higher NPV. A project with positive NPV is acceptable and higher the NPV the better it is. Also if the IRR is more than the required rate of return, the project is acceptable. A profitability index of more than 1 is acceptable. Since both the projects have positive results but since alternative 2 has higher NPV, IRR and PI the company should opt for replacing the old machine with a new one. NPV and IRR profile NPV profile is the graphical representation of NPV at different required rates of return. The below graph represents the NPV profile for both the alternatives at given required rates of return: From the above table we see that alternative 2 has a better NPV at all levels of required rates of return. The alternative 2 NPV line lies above the 1st alternative throughout. Hence we can say that there is no conflict in ranking between NPV and IRR because at all levels of IRR, alternative 2 only has better NPV and hence is preferred. Impact of Inflation Due to an inflation of 3.5% p.a, there is an increase in the operating and maintenance costs, advertising and marketing costs and overhead costs. Due to an increase in the above costs, there would be change in incremental operating net cash flows for both the alternatives. The cash flows will reduce. Due to a decrease in net operating cash flows, the NPV, IRR and PI will decrease for both the alternatives. The new operating incremental cash flows and capital budgeting techniques are given in appendices. The change in NPV, IRR and PI is presented in the table below: Alternative 1 Alternative 2 Before Inflation After Inflation Before Inflation After Inflation NPV $ 2,60,512 $ 2,22,359 $ 6,32,774 $ 5,96,510 IRR 54% 48% 82% 78% PI 2.5 2.3 3.5 3.3 Base Case Scenario The base case here would be the expected profits of the company for the next five years which is $130000 in the first year and a 2.9% increase every year. The base case scenario does not apply to alternative 1 because the total net income for the project is $627,842 whereas the total expected profits are $688,809. Since the base case profits are more than project 1 profits, hence the scenario does not apply. For alternative 2, the sales and operating and maintenance costs have been altered to make the project just feasible for the company. The changes are presented in the table below: Sales Operating and maintenance costs % change Decrease by 18.24% Increase by 167% Total Net Profit $688797 $688815 NPV $283282 $269184 IRR 47% 44% PI 2.1 2.1 From the above table we see that sales were reduced by 18% to bring the project to being just feasible. This reduced the NPV, IRR and PI of the project. Even though the above items have reduced but the project is still feasible to the company because the NPV is positive, IRR is more than required rate of return and PI is more than 1. There is a huge change in operating and maintenance costs. The costs were increased by 167% to make the project just feasible for the company. This means that this cost is low as compared to other costs. Leasing Decision Lease can be either Operating lease or a Financial Lease. Under operational lease, the ownership of the asset is never transferred to the lessee whereas under financial lease the ownership of the asset is transferred at the end of lease term. Leasing is advantageous in term of tax savings. Lease rental is tax deductible, so is the depreciation. Since ownership rights are not available with the company, it is not advisable to go for lease as for tax savings depreciation is available and purchase of asset increases the companys assets. The operating lease is for a short term and hence for a project 5 years if operation, the lease would have to be renewed which is expensive and time consuming. Operating lease is considered an expense for the company whereas finance lease is considered a liability. An increased liability affects the credibility of the company in terms of acquiring a loan; hence the same is not advisable. Moreover, Lifestyle furniture is a profit making company and hence should use its earnings for purchase of asset rather than opting for a lease. WACC The weighted average costs of capital have been calculated using the book value and market value weights. The WACC is presented below: Book Value Market Value Source of Capital costs Book Value Weights Cost of capital Market Value Weights Cost of capital Long term debt 6% 4000000 0.784 0.032 3840000 0.55 0.02 preference share capital 13% 40000 0.007 0.001 60000 0.008 0.001 ordinary share equity 17% 1060000 0.207 0.035 3000000 0.434 0.073 Total 5100000 6.9% 6900000 9.8% The WACC is higher for market value weights of the different source of capital. This is because the cost of equity is the highest and the market value weights of equity is higher as compared to book value weight, thus a high weighted cost of equity has led to an overall increase in WACC. The preference share capital hardly has any effect on the WACC. Conclusion/ Recommendation On the basis of the above analysis, it is clear that the company should opt for alternative 2 of replacing the old machine with the new one. This is because the proposal has a higher NPV, IRR and PI. Also one of the main reasons is that alternative 1 of renewing the existing machine does not satisfy the base case scenario of the company of the minimum profits the company is expecting in the next five years. The total profits are lower than the expected profits. Whereas alternative 2 will be able to generate more than the total expected profits of the firm. Hence, the company should go ahead with replacing the old machine with a new one. Appendices Incremental Cash Flows NPV and IRR Profile Impact of Inflation Base case Scenario