First Few Weeks in High School Essay

Secondary school is a pleasant, however testing piece of life. From the principal day of school to the fifth seven day stretch of school I was confounded, energized, and lost. My difficulties are getting A’s in the entirety of my classes and being one of the top understudies in my classes. My fruitful minutes have been getting A’s on my History, English, Geometry, and Biology tests. My objective in AVID is to discover which school would best suit me. Likewise, I might want to build my open talking aptitudes. The change from center school to secondary school is a mammoth jump with respect to the measure of work required and the amount of obligations. Above all else, from the principal Day of secondary school to the fifth week, I was confounded, energized, and lost. For instance, I was energized in light of the fact that I needed to meet new individuals and expand my initiative abilities. Also, I was confounded in light of the fact that it was an entire diverse timetable and there was an assortment of new themes that I had never found out about. Moreover, I was lost on the grounds that the school was tremendous and there were a ton of new things to manage. To finish up, during the initial five weeks I despite everything felt like it was summer so I didn’t have become a model of togetherness which made a few things extreme on me. Besides, I have set up two or three difficulties and had a couple of fruitful minutes. One of my difficulties is getting A’s in the entirety of my classes. Another test I havpre is being one of the top understudies in my classes. My effective minutes have been getting A’s on my History, English, Geometry, and Biology tests. All in all I have tested myself by setting up a couple of difficulties that I should achieve and I have had a couple fruitful minutes so far in secondary school. My objective in AVID is to discover which school would best suit me. Additionally, I might want to build my open talking abilities. Despite the fact that I am in my firstâ year of secondary school preparing for my future is acceptable in light of the fact that that way I can get ready for what is coming and I won’t need to do anything at last. Ardent additionally assists increment with peopling open talking aptitudes which is a pivotal angle required for a great deal of things that may happen later on. Something else AVID gives is network administration, which gets you associated with the network. To polish off with, AVID is an extraordinary and significant program in the event that you need to prevail in secondary school and in an amazing remainder. Taking everything into account, the progress from center school to secondary school is a goliath jump with respect to the measure of work required and the amount of obligations. From the principal day of school to the fifth seven day stretch of school I was confounded, energized, and lost. My difficulties are getting A’s in the entirety of my classes and being one of the top understudies in my classes. My effective minutes have been getting A’s on my History, English, Geometry, and Biology tests. My objective in AVID is to discover which school would best suit me. Likewise, I might want to build my open talking abilities. Secondary school may appear to be hard with all the work, however It can be simple on the off chance that you truly attempt and set your attention to it.

The Interrogation process, techniques and approaches Essay

The Interrogation procedure, strategies and approaches - Essay Example American criminal history is packed with cases when guiltless individuals have been passed on sentences while the genuine guilty parties move without any penalty. Indeed, even today, it is generally accepted that there are somewhere in the range of 65 and 300 bogus admissions for each year in the United States. This examination looks to consider the different effects of cross examination and the strategies, which are followed in cross examination .Through the investigation of chose cases regarding the matter it is felt that current laws should be surveyed and redone to give progressively viable and speedier equity preliminaries to the people in question and discipline for the guilty parties. With the changing occasions it has gotten important to modernize the wrongdoing battling system in the nation to shun customary structures and grasp present day innovation including the creation of complete reported electronic accounts of suspects and requirement of a stricter set of principles f or the specialists by receiving increasingly subtler, yet viable methods for building up truth in criminal cases. This additionally conceives a stricter Code of Conduct for the specialists into receiving increasingly subtler, yet successful methods for setting up truth in criminal cases dependent on upon logical information and master assessments, as opposed to intimidating suspects into admissions, regardless of whether refuted valid or. This would guarantee that the legitimate framework need not need to go into new debates in bestowing equity as and when it gets basic to do as such in the carriage of equity and reasonable play in lawful dealings. The cross examination framework is significant in light of the fact that it is a chance to test whether the suspects are lying or articulate bogus explanations. At the point when such lies or bogus explanations are made, the police are in a situation to fortify the way that the suspects are associated with the wrongdoing and could along these lines, tested the announcements conveyed, or prohibit the cases and plausible excuses

August Questions Omnibus 2

August Questions Omnibus 2 ant06 wrote, is it okay to get a recommendation from a teacher whos teaching you a subject you are not planning to further pursue, as against the teacher teaching your future major but who doesnt know you as well? Yes! You should get recommendation from teachers who know you well. We do not care if recommendations come from the subject you wish to major in or not. Emilia wrote, I live in Ecuador, am about to enter senior year and am very interested in applying to MIT. I have one question about the application process I would like to ask you (I read this post and thought that you provided good answers to a lot of the questions about the process): The application says that it is recomended, but not required to get an interview, and when I checked My MIT account it said that there wasnt an interviewer available in my area and that the interview had been waivered. I really would like an interview though, because I believe that it can provide a lot more of information about myself other than whats on the application itself. I know someone whos an MIT alum and is in the area. Is it possible, that this person could conduct the interview? And if so, what steps should I take do make it happen? Emilia, we have no interviewers in Ecuador, but we do have several in Colombia. If you wish to pursue this, contact the Educational Council office at [emailprotected] Michael B.B. wrote, 1. Can you tell me if there are any interviewers around Oslo, or at all in Norway? 2. There are very few extracurricular activities around where I live, other than golf and soccer, sports I dont have the greatest enjoyment in participating in. How bad will this look on my application, as participation in (to me) interesting activities is very difficult as there are no science-based activities at all? 3. And my term grade report wont be very impressing, as I had a doctors note advising against me taking the exams, as I was very ill, but due to various disagreements with my history/grade teacher, I am not sure how to make that clear, as I am uncertain whether he would. Therefore I would like to ask how to make something clear, in case your teacher doesnt? 1. We have no one in Oslo but we have someone in Hordaland and someone in Stockholm. If you wish to pursue this, contact the Educational Council office at [emailprotected] 2. We know that most countries do not put the same emphasis on extracurricular activities as the United States does. This is okay, and we will consider this as part of your context. 3. You can write us a note explaining your circumstances, or you can have whoever completes your secondary school report explain it to us. Either way would be fine. Saket asked, Sir, as it is very difficult to get into MIT, what kind of extra cullicular activities are expected from an international student? What kind of extra cource work we have to do considering for admission, myself being an international student? No particular activities are expected of you, but we do hope youll follow your passions and use your time to be involved with things you are excited about, to the extent which that is possible. Most students take the most rigorous version offered of their nations curriculum and do well in that curriculum. Your courses should certainly include math through calculus, physics, chemistry, biology, and English. Rebecca wrote, Because I attended two different high schools (parent/job situation), my class rank suffered significantly, as my new high school does not accept weighted credits from out-of-state schools. How important is class rank in terms of MIT admission? If my rank is not even within the first decile due to the transfer situation (despite the fact that my grades are very good), will this hurt my chance at MIT, ie, will MIT understand this? This is a fairly common situation, actually. You should definitely submit a note detailing the circumstances, and if possible have your college counselor also note this on the secondary school report. We will focus on your course grades much more than the schools weighting. Jennifer asked, In filling out the tests, activities, and essays section of the application, I needed more room for a few of the questions. Should I attach an another sheet to include these extra activities? We expect that most of our applicants are involved with more than five activities, but in our application process, we are primarily concerned with the five things you do that are most important to you. If you like, you may send in additional information (sometimes called a resume or brag sheet), and we will certainly consider it, but please do fill out our forms as completely as possible. Mike W wrote, Ive been thinking of sending in a DVD of a video I created for my churchs Vacation Bible School. I figured I could tell you about my video editing in the application, but it would be a lot cooler if I could also show you my video editing. Any thoughts on that? You may send in a video that you edited, or a video of you editing video, or even a video that you edited of you editing video. We try to evaluate every video sent to us, including films, dance performances, and more. Shikhar asked, Can I send in softwares that I have made as a part of the extra material on a CD-ROM? You may send it in. We try to evaluate all software sent to us, though it is not always possible. If it is evaluated, well want to see both the compiled program and the source code (with comments, if youve commented your code). Laura wrote, Im applying for MIT 2006, and was wondering if I should bring an art portfolio with me to my interview, or send it with my application, etc., even though Im majoring in engineering, not art. Yes! If you send us an art portfolio, we will have it evaluated by people in the arts. The best way to do this is to send us a CD with some of your works in a Powerpoint file. Also, you should bring your portfolio to the interview, but we make no guarantees that your Educational Counselor will know anything about art ;) Victor asked, what if your passion isnt what you want to major in? e.g. if you want to major in some sort of engineering, yet your passion is in exercise science/kinesiology (which isnt offered at MIT I dont think?) is that really bad? Its cool that youve found something you are passionate about. Your passion need not be your major. Remember that half of MIT students dont major in what they put on the application. Last year, I remember seeing (and admitting) students whose passions ranged from weightlifting to tiddlywinks. Ill be interested to read more about your passions. Cafer wrote, I want to ask you about the transfer admissions. If I want to apply in my first year in a college, what are my chances? Or if i apply in my second, what are my chances to be admitted to MIT? There should not be much difference between applying for transfer admission in your first or second year, as long as you will have spent at least one full year in another university before entering MIT (i.e, freshmen must wait until the spring to apply for transfer) and have taken classes similar to MITs core math science classes. This past year, 259 students applied for transfer admission, and 17 were admitted. The transfer process is very similar to the freshman process, in that we look at applicants holistically and within context. As you can surmise from the numbers, it is very competitive, more competitive percentage-wise than the freshman pool. Well be considering the same attributes, though: initiative, creativity, passion, personal qualities. You can read more about the transfer process at the Admissions website, admissions.mit.edu. Aziz wrote, Quick question..does MIT do information sessions internationally, even things such as sending a current undergrad during or before winter break to give basic information and answer questions about what its like to be at MIT ?? Currently, we dont do any information sessions abroad, but it is something were currently looking into. So, unfortunately, for now places like these blogs will be one of the few somewhat personal information points. I hope its at least a little helpful. Liu Huan asked (re: TOEFL abbreviations), What is PBT CBT iBT? These abbreviations stand for: PBT Paper-based Testing CBT Computer-based Testing iBT Internet-based Testing For more information, see the TOEFL website. Ben wrote, I was wondering, if I didnt do extremely well on the math section of the SAT I, would having a very strong score on a Math SAT II make up for that? First, know that you dont have to do extremely well on your SATs to be admitted. To answer your question, though, a very strong SAT II Math can absolutely balance a less than extremely good SAT I Math score. Lindley wrote, Over the summer I took college courses through Carnegie Mellon Universitys Summer Pre-College program. I took a calc based Physics Mechanics course and a Differential and Integral Calc course. The highest math my high school offers is Calc BC and the calc course I took covers all but about a chapter of the course. Should I stick w/ the Calc BC course @ my skool and take the AP test, or take another higher calc course @ a community college or online program? Ive a similar problem w/ my physics course. The highest my school offers is just regular non-calc basesd college prep that covers mech. and electr. magnet. Should I just stick w/ that course since it is a lab unlike the one @ Carnegie, take it and another an AP/college level course for electr. magnet. and take the Physics C AP test, or drop it and just take Physics C online or @ a community college. How does MIT look @ these outside courses and do I need a transcript from Carnegie Mellon University? Hmm there are no right answers to some of these questions, but hopefully I can help somewhat. Taking courses outside of school can sometimes be hard, but in your case it is an option you should strongly consider. I suspect youll be more challenged and intellectually fulfilled if you choose to do some more advanced online/CC math physics courses this year. If you do, you may still want to consider taking the BC Calculus and Physics C tests, as these can ease the process of transfer credit and placement at whatever university you attend next year. We will consider your CMU courses, and we would like to see a transcript. Lindley also wrote, my SAT1andSAT2 math scores are both about 710 should I retake the tests and try for a higher score or does having pretty good course wrk balance out the relatively low scores? just curious do you have the avg. SAT2 scores? I dont have the average scores, but I can tell you that the middle 50% of admitted students on both the SAT I Math and SAT II Math scored between 740 and 800. Given those statistics, you may want to consider retaking one or both tests, but remember that 25% of our admitted students last year scored 730 or less on the SAT I Math and/or SAT II Math, and many of those students balanced out scores with strong grades and coursework. Gabor wrote, Im from Hungary, but have been living and going to school in the US for 6 years. I still dont have a green card, so I still am considered an international student. All my coursework/test scores/etc. are American. Does this hinder me in any way? Is there anything extra I need to do on my application because Im essentially an American student thats being tossed into the international pile? Many of our international applicants are applying from US schools. This is very common and does not put you at any unusual disadvantage. Guli asked, I was wondering, are you able to mix and match old SAT and new SAT math scores? For example, if I scored higher on the math section of the old SAT but my verbal/reading section of the new SAT was higher, would you combine those higher scores? Or are you only allowed to take the best scores from either the old SAT only or the new SAT only? Yes, you can mix and match as you described. We will take your best math and best verbal scores, from the old or new SAT I. Isabel wrote, Hi, Matt! This is Isabel from Seoul, South Korea, living on a U.S. military installation. Do you remember me from RSI 2005 this summer? If not, thats okay, because Im sure you meet hundreds of new faces every week. Well, I was browsing through MyMit and came upon this page. It helped clear many questions of my own. However, I was curious myself about mixing the highest subscores for my ACT score on my application. Is that possible? In addition, how much emphasis is placed on SAT II Subject Test scores when evaluating an applicant? Thank you in advance! Good to hear from you, Isabel. I dont know how/if our algorithms consider ACT mixing of ACT subscores, but Ill try to look into that. As for SAT II scores, they are considered equally with ACT/SAT I scores. As you may have read, we dont put a huge emphasis on scores, but they are certainly a considered part of our process. Kamran wrote, I find myself in a very unique situation, I think. I know MIT needs 2 Letters of Recommendation (Forms), one from a humanities and one from a science. I am part of a very unique gifted and talented program at the Learning Alternatives and I am also taking some AP classes at the high school itself. The program is taught by one teacher (but we bring in other teachers from Learning Alt to teach us things like Leadership, English, Latin, and Bio) and I spend 7+ hours inside the classroom. I did take Accel Phys last year and AP Calc AB, and out of those two I think my physics teacher is a good choice for a recommendation. My question is, basically, can I have a recommendation from my program teacher? I dont even look at him as my teacher hes my mentor and my friend. He just knows me so well, he knows my faults and he knows how I work. I think it would help me more to get his recommendation rather than, say, my English teacher (even though I know her very well too). Is the re commendation process set in stone, or can I use his recommendation AND a sciences recommendation too? You also require the Secondary School report form and a Mid-year report form and those are supposed to be from a guidance counselor or principal. Well, since I belong to both the Learning Alternatives and High school (they are seperate yet the LA is a wing of the high school building), can I choose to use my LA principle instead of the high school principle? And, one of my last questions (I promise!), my guidance counselor hardly knows me (since I spend most of my time in my program and not in the HS), but the Gifted and Talented Coordinator is almost exactly like the guidance counselor only for the LA. He also knows me very well too and has a very close relationship to the programs students. Could I use him instead of the HS guidance counselor? Whew! Many questions. Hopefully I can help. It sounds like we would take a recommendation from your physics and program teachers. You could also submit a third recommendation if you feel it would give us a unique perspective. You may have your LA principal or GT Coordinator fill out the Guidance Counselor forms, but you should check with both your LA principal/GT Coordinator as well as your high school guidance counselor before doing so. Kamran also wrote, I am going to try very hard to get good scores on the SAT and ACT, but if it turns out that I, suppose, get a 670 English and 710 Math, does the fact that I am involved in a lot of things and other unique things about me (entrepreneur, guitar, Latin, passion for computers, websites, etc etc. I could go on for awhile but Ill save that for the application) weigh in at all? (Read: Do I still have a chance at getting accepted?) Yes, you still have a chance of being accepted, even with lower scores. Scores do not rule our process, but are certainly a part of our process. As one guideline, note that the middle 50% of admitted students scored between 690 and 770 on the SAT I Verbal and between 740 and 800 on the SAT I Math, but also remember that a quarter of students scored lower than that. Michael B.B. wrote, My Physics teacher has just left for a teaching position in Uganda, and his repalcement has never taught at my school before and will only be here until Christmas. I would like to sign the waiver to see what my teacher wrote found on the top of the form, but that would be impossible, as I intend to ask my ex-physics teacher in Uganda to write my recomendation letter. What advice could you give to an international student in a bit of a squeeze. Its okay if you dont sign the waiver. If it concerns you, you could ask your teacher to note the situation in his response/letter. Overall, this is not a major problem, so dont worry too much. Laura wrote, I was just wondering if I should send my APs this year; I will be a senior by this September. I will be taking more APs in my senior year should I send them again then? [] Oh, I was wondering statistically, what percentage of MIT undergraduate students list undecided as their major coming in? You dont need to send us official copies of your AP scores until you enroll at MIT. We will want to know your AP scores, though, so be sure to note them. Statistically, only a small percentage of student list undecided on their application, but note that half of MIT students dont major in what they listed on their application. So, in a sense, half of the students here were undecided or flexible coming in. I was among those students. Anyway, if youre thinking about a major, you should list it as what you are considering, but if youre completely up in the air, then you should absolutely list undecided. Hope that helps a little Mike D asked, Why are the essays on the app the same this year? Do you not change them every year? We do not necessarily change our essays each year. Weve found that last years essay topics worked very well, so well keep them for at least another year, if not longer. Ajymurat asked, verbal 500 or TOEFL 600. which one seems better? if we take 1800 can we still have chance to enter MIT? Submit all your scores, but we will most likely use the TOEFL 600 in our process. A score of 600 puts you within the competitive range for MIT. As for the second part of your question, I think you mean Can I be admitted if my combined SAT I score is 1800? Well, we consider each part of the SAT individually, and will not be using the writing section this year. In short, its not a question I can easily answer. Ajymurat also wrote, i am an international student from Kyrgyzstan. for intls SAT 1 isnt so important isnt it? i am going to take chemistry , math2 and toefl. are this enough for test requirements? For international students, you are right, we only require the TOEFL, a math SAT II, and a science SAT II, so you will have fulfilled our testing requirements. You do not need to take the SAT I. Liu Huan wrote, I want to know more about the recommendation letters. MIT requires 3 letters from humanity teacher, math teacher and principal. What about the other recommendations? E.g. my summer program mentor. We are happy to take an extra recommendation if you think ti would be valuable. Often recommendations from summer program mentors can be illuminating, so I encourage you to send that in, as well. Jeremy asked, Just wondering, why cant we use our writing score on the SAT as the SAT II Writing score? You can read a little more about that at this old blog entry. Mahsa wrote, I am an international student from iran. In my country SAT 2 have not taken. What should I do? I will write a separate entry soon about SAT testing and requirements for Iran and China. Oziegbe wrote, pls sir my ssce o level result is neco[national examination council] in nigeria i hope it is valid Im sorry, but I dont understand your question. sab wrote, After searching each corner of your blog page, Im still unable to find your email address.. is it not on the page or I need to check again?! I want to ask some questions regarding admission to mit. It would be really convenient for me to use email. I dont put my email address on my blog, but its pretty easy to figure out. The MIT homepage has a people directory, and if you enter my name, my email address should pop right up. siddharth wrote, I am a bit puzzled about the biographical informations (either not much informations about it in your site or I might have accidentally skipped it). So please help me out. Beginning in September, I plan to do blog entries on each individual part of the application, including the biographical form. In the mean time, do you have a specific question about the biographical form? Will wrote, I am currently a rising sophomore in high school, and have taken the SAT I four times so far (my best two scores recieved during freshman year). My question is, will my scores from freshman year still be elgible for my application in the 08 09 school year? [I would like to keep them, as i have both a 800 math and CR (one from each test).] For students applying in 2008, we will require the SAT I with writing. If you have that (and it sounds like you do), then we will consider the best scores from each of the three SAT I sections, and you will not need to take the test again, barring any further policy changes. Subhodeep wrote, I have taken both SAT Reasoning and Subject Tests, and according to College Board, the scores have been sent to MIT (#3514). However, in my application tracking section, it says that the scores have not yet been received. Is this due to a delay in updating, or would I be better of sending my scores again? I dont know why we dont list your scores yet, but you should email [emailprotected] with your problem. They will get back to you with the best remedy. At this point, do not spend more money to have your scores sent again. Farrukh wrote, About Online Application Part 2, Section 3. Can i fill them with my UCLES, GCE Olevel and Alevel courses? Yes, please do list your O and A level courses and marks in that section. Exactly!

The Receivers Important Role in Clear Communication

In the communication process, the receiver is the listener, reader, or observer—that is, the  individual (or the group of individuals)  to whom a message is directed. The receiver is also called the audience  or decoder. The person who initiates a message in the communication process is called the sender. Put simply, an effective message is one thats received in the way that the sender intended. Problems can arise on both ends that prevent the intended message from getting through to the receiver. The Message and Potential Problems For example, Paige asks Bill a question verbally. The message travels through the air, the channel, to  Bills ears. He responds. Paige is the sender, the question is the message, and Bill is the receiver and gives Paige feedback by answering the question. Myriad areas and ways exist where problems could arise even in this short exchange. If Paige whispers, Bill might not hear it. Maybe he hears only a portion of it and responds to a question that wasnt actually asked, and so Paige is confused. Maybe theres background noise, or the question isnt clear. If Bill is distracted by something and not paying attention, he might miss some of the words and respond inappropriately—or he might miss the question entirely so that the exchange needs to begin again. If hes not looking at Paige when she asks the question, he would miss any body language that would provide subtext to the question. If Paige sends an email or text  message to Bill, problems might arise because Bill doesnt have Paiges body language or tone of voice to interpret, which could add  information to the message. Autocorrect might have inserted errors into the text, or a missing question mark might make a question seem like a statement. These are all hindrances to effective communication. The degree of effectiveness is determined by how much of the message is understood by the receiver. Decoding the Message In the book, Business Communication, authors Carol M. Lehman and Debbie D. DuFrene lay it out this way: The receivers task is to interpret the senders message, both verbal and nonverbal, with as little distortion as possible. The process of interpreting the message is known as decoding. Because words and nonverbal signals have different meanings to different people, countless problems can occur at this point in the communication process: The sender inadequately encodes the original message with words not present in the receivers vocabulary; ambiguous, nonspecific ideas; or nonverbal signals that distract the receiver or contradict the verbal message. The receiver is intimidated by the position or authority of the sender, resulting in a tension that prevents effective concentration on the message and failure to ask for needed clarification.The receiver prejudges the topic as too boring or difficult to understand and does not attempt to understand the message.The receiver is close-minded and unreceptive to new and different ideas. With the infinite number of breakdowns possible at each stage of the communication process, it is indeed a miracle that effective communication ever occurs. Even the environment or the receivers  emotional state can affect the decoding of the message, for example, distractions in the room, discomfort on the part of the receiver, or stress or anxiety that allow the receiver to insert subtext that the sender didnt intend. Knowledge of social or cultural contexts can hinder the receiver from picking up cues or responding appropriately as well. Relational contexts can color a message, too, as messages from close friends could be received differently than a message from a work supervisor. Importance of Feedback When its not clear to the sender that understanding has occurred on the part of the receiver, communication continues, for example, through follow-up questions from either party, further discussion, or the sender giving examples, rephrasing the information, or other means of clarification to get the sender and receiver on the same so-called wavelength. In a presentation, the sender might show charts or images to make a point more clear to the audience or reader. The more cues and channels that the receiver has and is open to receiving is often better; for example, it can be easy to misconstrue tone or subtext in an email or text message, while that same message would come through clearly if the receiver hears the persons voice or is speaking with them face to face.   In the book, Planning, Implementing, and Evaluating Targeted Communication Programs, authors Gary W. Selnow and William D. Crano note that body language and tone arent just communication on the senders side: Feedback in the interpersonal setting provides a running account of a receivers reception of a message. Obvious cues such as direct questions show how well a receiver is processing the information. But subtle indicators also may provide information. For instance, a receivers yawn, silence when comments are expected, or expressions of boredom suggest that selective exposure gates may be in operation. A receiver also may have tone and subtext in the feedback given to the sender, such as responding with sarcasm or anger, which might be missed if the feedback is text-only  but likely would not be missed if the parties can either see or hear each other or both.

The Little-Known Secrets to Health and Medicine Essay Topics

The Little-Known Secrets to Health and Medicine Essay Topics What's Truly Happening with Health and Medicine Essay Topics Medicine and health is a complicated area of study. It is a very broad topic to write a research paper about. Topics related to health provide an excellent selection of choice. Women's health issues topics provide an assortment of research subjects. Gossip, Lies and Health and Medicine Essay Topics Conclusion It is vital to take utmost care of your well-being. The modern definition of health consists of various different factors which should be kept intact to delight in a healthful life. In the majority of instances, it can be said that great health can be equated to a person's self-actualization. At home, excellent health may be a collective concept for it is also critical to the well-being of the excellent family. The Number One Question You Must Ask for Health and Medicine Essay Topics News stories regarding the newest in the area of medicine are o ften common. The Bible is really the most selling books of all time with over 6000 million copies sold. Although some men and women believe governments should be liable for improving the wellness of their nation, others believe it's up to the person. Facts, ultimately, will always win out against how folks are feeling at a specific moment. Some people believe that a return to conventional medicine ought to be encouraged. After all, most individuals are interested in their own wellbeing and that of their family members and friends. Who Else Wants to Learn About Health and Medicine Essay Topics? The cost of an essay is dependent upon the total amount of effort the writer has to exert. Controversial research topics can be exceedingly useful because they may spark interest in related matters. Hence, you ought to make certain you have read the above told tips which will help you compose a better piece of essay on medical. When you've chosen one subject from the scope of expository essay topics, it's time to get started writing. Argumentative essay topics are so important since they are debatableand it's important to at all times be critically contemplating the world around us. An essay is only a string of thoughts which were put in order to create a coherent idea. It consists of three major parts, 1. It can have a lot of intentions, but the basic structure of all type of essays will be same. The major idea of your entire essay is going to be your thesis statement. Greatest essay papers ought to be original and plagiarism free. In any event, your essay is going to have the exact standard format and structure. You might be writing an argumentative essay to argue for a specific point of view or to may do a persuasive essay to spell out the steps necessary to finish a task. Since there are lots of distinct regions of health science, the kinds of careers are equally as numerous. Good mental health is just as vital for working efficiently. Urgent and essential healthcare services are provided dependent on the needs as opposed to financial opportunities. So, both students of medical care programs along with students of any other specialty may have a task to compose an essay on health topic. Most Noticeable Health and Medicine Essay Topics There are invariably a vast range of opinions on the topic of technology, and here are our favourite things to consider on this issue. Additional nutritious food is normally inferior to fast food in conditions of taste and prices as an issue of fact. The key in ensuring emotional health is to at all times gauge our feelings and knowing the way to deal with it properly. Much like other small business considerations, however, partnerships are sometimes a good or bad thing based on the parties and circumstances involved. Initially, health only meant the overall body's capacity to operate well. Keeping your physical health in check requires you to have proper diet daily. The test determines the variety of white blood cells a patient has in her physique. It is undertaken by an automated machine that undertakes various measurements over time. The standard of healthcare services is among the most crucial things that predetermines a nation's well-being. Describe the discipline of biotechnology and the way it has impacted the area of health science. Specialized caregivers account for another sizeable part of the health care sector. In addition to conventional medicine, alternative and holistic medicine are also part of health science.

Financial Management in Non Profit Organizations Free Essays

string(57) " sites would not part with their property for any price\." ITO-YOKADO COMPANY, LTD. M. Edgar Barrett and Christopher D. We will write a custom essay sample on Financial Management in Non Profit Organizations or any similar topic only for you Order Now Buehler Overview The Ito-Yokado Company consisted of three business segments: Superstores and other Retail Operations (lto-Yokado superstores, Daikum discount stores, York Mart, York Benimaru, Robinson’s Department Stores, and Oshman’s Sporting Goods); Restaurant Operations (Denny’s and Famil Restaurants); and Convenience Store Operations (7-Eleven Japan). Ito- Yokado had just acquired struggling Southland Corporation and transitional long-term strategies for Southland would have to be developed. Although diversified, Southland’s largest business segment was its Stores Group responsible for operating and franchising of over 7,500 7-Eleven convenience stores. Masanori Takahashi, a senior strategy analyst for Ito-Yokado was considering the possibility that long-term strategies that had been successful in Japan also could be successful in the United States was vastly different than that of Japan; nevertheless, he was confident that through careful and thorough planning, the goal of making Southland profitable could be achieved. Learning Objectives . To acquaint students with the development of a Japanese company and its move into U. S. markets essay writer service review. 2. To acquaint students with elements of â€Å"Japanese management† through Ito-Yokado’s â€Å"operation reform project† and to induce them to question the transferability of marketing across national boundaries. 3. To familiarize students with the nature of retailing in Japan buying essay papers online. 4. To show how Southland Corporation became subject to acquisition by Ito-Yokado Company, Ltd. 5. To present the nature of the convenience store industry in the United States. In mid-March 1991, Masanori Takahashi, a senior strategy analyst for Ito-Yokado Company, was preparing to depart for Dallas, Texas. Once there, he would be leading a team of Japanese and American managers responsible for establishing transitional and long-term strategies for the Southland Corporation. After nearly an entire year of intense bargaining and negotiation with Southland and its creditors, Ito-Yokado acquired Southland on March 5, 1991. Takahashi began working with Ito-Yokado in 1972 as an assistant manager of one of the company’s superstores. He had advanced to the position of regional manager by 1979. In early 1981, Ito-Yokado’s Operation Reform Project was conceived and Takahashi was asked to be a member of the team leading the project. During the first few months on the team, Takahashi quickly understood certain crucial aspects of the new project, most notably the use of point-of-sale (POS) systems. Implementation of the project advanced most rapidly in Ito-Yokado’s 7-Eleven Japan subsidiary, so he also had become familiar with the operating environment of convenience stores in Japan. As Takahashi left his Tokyo office, he could not help but feel both excitement and apprehension regarding his new position. He had gained confidence while involved with the successful Operation Reform Project at Ito-Yokado’s superstores and 7-Eleven Japan convenience stores, but this experience might or might not prove to be useful in respect to Southland. COMPANY BACKGROUND Ito-Yokado’s founder, Masatoshi Ito, was born in 1924 and graduated from a commercial high school in Yokohama. He worked briefly at Mitsubishi Heavy Industries before joining Japan’s war effort in 1944. After World War II, he worked with his mother and elder brother at the family’s 66-square-foot clothing store in Tokyo. 1 The store was incorporated as Kabushiki Kaisha Yokado in 1958. By 1960, Ito was in sole control of the family business. During that same year he made his first visit to the United States. In 1960, Ito visited National Cash Register (NCR) in Dayton, Ohio. While in the United States, Ito was introduced to terms such as â€Å"supermarkets† and â€Å"chain stores† by NCR, which was interested in selling cash registers to Japanese retailers. In Japan, retailing was dominated by mom-and-pop stores and a handful of venerable department stores, with few types of retail outlets in between. At this time, Ito began to see the possible role of mass merchandisers in a society becoming â€Å"mass-oriented. Ito soon opened a small chain of superstores in the Tokyo area. These stores carried a large selection of household goods, food, and clothing of generally lesser quality and lower price than either the mom-and-pop or department stores. ‘ By 1965, Ito had opened eight superstores. In the same year, the name of the chain was changed to It o- Yokado. The Growth of Ito- Yokado as a Superstore Ito’s concept for the superstores was centered on having the rough equivalent of several types of retail stores contained within one multistory superstore. The initial stores were located near population centers and railroad stations in the Tokyo areas. ‘ Often, several stores were located in close proximity in order to achieve â€Å"regional dominance. † The results were high name recognition, reduced distribution costs, and the effective squeezing out of competition. Ito soon realized that social changes in Japan could create new opportunities for his retailing ideas. Younger and more mobile Japanese appeared to be less willing to spend a great deal of time shopping at numerous mom-and-pop stores. Also, the Japanese society was experiencing increased suburbanization. Ito decided to locate stores in suburban prefectures. There were 47 prefectures (provinces) in Japan. One reason for locating stores in suburban areas was the lower cost of real estate. This allowed Ito-Yokado to open larger stores with more parking spaces than competitors located in congested urban areas. Ito continued to use a strategy of â€Å"regional dominance† with these new openings, most of which were concentrated in the greater Kanto district, which consists of the Tokyo metropolitan area and surrounding cities. By the early 1970s, Ito-Yokado stores were opening at the rate of four or five per year. By the late 1970s, nine or 10 new stores ‘were opened annually. † In early 1987, 101 of 127 Ito- Yokado superstores were located in the greater Kanto district. Ito also adopted a strategy of leasing some properties for new stores. As of the mid-1980s, more than 87 percent of Ito-Yokado’s aggregate sales floor space, 10 of the company’s 11 distribution centers, and the company headquarters in Tokyo were all leased? Often, property prices were astronomical, or the owners of well-located sites would not part with their property for any price. You read "Financial Management in Non Profit Organizations" in category "Papers" Constraints on Growth The initial success of Ito-Yokado and the other superstores soon resulted in retaliatory action by a powerful competitor: the mom-and-pop store owners. These small retailers were said to â€Å"pull the strings of Liberal Democratic Party politicians at the local level. †8 The action initiated by the small retailers resulted in the 1974 Large Store Restriction Act, which was subsequently strengthened in 1979. The original act restricted the opening of stores with sales areas of more than 1,500 square meters (16,500 square feet). In addition, the act restricted the hours of operation of new and existing large stores. A series of changes in 1979 added restrictions on stores with sales areas greater than 500 square meters (5,500 square feet). A Commerce Coordination Committee was established in each area in order to set policy regarding large-store openings and hours of operation. The committees were effectively controlled by the small retailers. By the early 1980s, Ito-Yokado was opening only four or five new stores annually. † Factors other than the Large Store Restriction Act adversely affected Ito-Yokado. Japanese consumers’ real disposable income decreased by a little more than 1 percent during 1980-1981. 0 Japan experienced a general economic downturn in the early 1980s, as did the rest of the world, again serving to limit consumer purchasing power. Net income for Ito- Yokado-which had grown almost 30 percent per year between 1976 and 1981-grew by 9. 7 percent in 1982 and by 0. 9 percent in 1983. 11 The legal restrictions imposed on large stores, when combined with the economic d ownturn, led to both lower current earnings and a projection of reduced rates of growth in future earnings. Ito-Yokado as a Parent Company During the early 1970s, Ito began pursuing new retailing interests. In 1972, he approached Dallas-based Southland Corporation in an attempt to secure a license to operate 7-Eleven stores in Japan. He was rebuffed. He made a similar attempt in 1973 with the aid of a Japanese trading company, C. Ito and Company, and was successful in obtaining the license. Concurrently, Ito was pursuing another U. S. firm, Denny’s Restaurants, in an attempt to obtain rights for opening Denny’s Restaurants in Japan. Both subsidiaries, Denny’s Japan and 7-Eleven Japan (originally called York Seven but renamed 7-Eleven Japan in 1978), were established in 1973. The first 7-Eleven and the initial Denny’s in Japan were both opened in 1974. Stock for each of the two majority- owned subsidiaries was traded independently on the Tokyo Stock Exchange. Both subsidiaries became profitable around 1977. ITO-YOKADO IN THE 1980s The Ito-Yokado group consisted of three business segments: Superstores and other Retail Operations, Restaurant Operations, and Convenience Store Operations. The Convenience Store Operations segment was made up of 7-Eleven Japan. The Restaurant Operations segment consisted of Denny’s and Famil Restaurants. Ito-Yokado super- stores, Daikuma discount stores, two supermarket chains (York Mart and York-Benimaru), Robinson’s Department Stores, and Oshman’s Sporting Goods Store made up the Super-stores and other Retail Operations segment. Ito-Yokado’s financial statements are shown in Exhibits 1 through 3 in separate attachments. SUPERSTORES AND OTHER RETAIL OPERATIONS York Mart and York-Benimaru York Mart was a wholly owned subsidiary established in 1975. In 1990, it operated 40 supermarkets located primarily in the Tokyo area. These stores sold mainly fresh foods and packaged goods, and competition was high in this geographic and retail area. Ito- Yokado’s Operation Reform Program was implemented by York Mart in 1986 as a means to boost efficiency and profits. By 1990 sales were increasing at 6 percent per year. See Exhibit 3. Is York-Benimaru was a 29-percent-owned affiliate of to-Yokado, and was an independently managed regional supermarket chain. York-Benimaru operated 51 stores as of 1988. The stores were located in the Fukushima prefecture of Koriyama-city in northern Japan. Like York Mart, York-Benimaru operated with a higher profit margin than the supermarket industry as a whole. York-Benimaru’s earnings growth rate of 13 percent per year was expected to last into the 1990s, and Ito-Yokado’s share of this profit was the major contribution to the â€Å"equity in earnings of affiliates† portion of Ito- Yokado’s income statement (see Exhibit 2). Daikuma Daikuma discou nt stores were consolidated into the Ito-Yokado group in 1986, when Ito-Yokado’s ownership of Daikuma increased from 47. 6 percent to 79. 5 percent. † In 1990, Daikuma was one of the largest discount store chains in Japan with 14 stores. Although Daikuma was popular among young Japanese consumers, the discount stores attracted the critical attention of competing small retailers. Because the discount stores were regulated by the Large Store Regulation Act, intensive effort was required to open new stores. Despite these circumstances, and increasing competition, Daikuma opened two discount stores in 1989. Robinson’s Department Stores In 1984, the Robinson’s Japan Company was established to open Robinson’s Department Stores in Japan. The Robinson’s name was used under the terms of a license granted by the U. S. store of the same name. The Japanese company was wholly owned by Ito-Yokado, and the first Robinson’s Department Store in Japan was opened in November 1985 in Kasukabe City of Saitama Prefecture. This was a residential com- munity north of Tokyo and was a rapidly growing area. Although an Ito- Yokado super- store was located nearby, Ito-Yokado’s management believed that a niche existed for a slightly more upscale retail store. Ito-Yokado had â€Å"shattered traditional wisdom by opening up a department store in the suburbs, not in the center of Tokyo. 21 The location was expected to serve a population area of more than 600,000 residents and to offer a broad selection of consumer goods at prices higher than superstores yet lower than the downtown Tokyo department stores. ~ Many of the strategies employed by Ito-Yokado in opening its Robinson’s Department Store followed similar strategies employed in its superstores. The land was leased (in a suburb). Instead o f purchasing goods on a consignment basis as most other department stores did, Robinson’s managers were made responsible for the outright purchase of goods from suppliers. This allowed Robinson’s to purchase goods at a significantly reduced price. Robinson’s reported its first profit in fiscal 1989, approximately four years after opening. † In contrast, most Japanese department stores operate approximately 10 years before reporting a profit. The single Robinson’s location grossed about ? 28 billion (US$220 million) in fiscal 1989. 24 The second Robinson’s Department Store opened in late 1990 in Utsunomiya, about 100 kilometers (60 miles) north of Tokyo. Oshman’s Sporting Goods Ito-Yokado licensed the Oshman’s Sporting Goods name from the Houston, Texas, parent company in 1985. That year, two stores were opened. One of the stores was located inside the original Robinson’s Department Store. RESTAURANT OPERATIONS The Famil Restaurant chain was started in 1979 as an in-store restaurant to serve customers at Ito-Yokado superstores. It had; however, expanded to 251 locations by 1988. 25 The Famil chain did not record its first positive earnings until 1986. In Famil’s attempts to expand operations, the company had emphasized its catering business. By 1990, the in-store operations (those located in Ito- Yokado superstores) accounted for 45 percent of Famil’s sales, the catering business accounted for 32 percent of sales, and freestanding stores accounted for 23 percent of sales. † Denny’s Japan Ito-Yokado opened the initial Denny’s (Japan) Restaurant in 1974 with a license from Denny’s of La Mirada, California . Ito-Yokado tailored the U. S. family restaurant to the Japanese market, and Denny’s Japan became profitable around 1977. By 1981, 100 Denny’s Japan restaurants had been established. † and in 1990 there were 320 such restaurants operated by Ito-Yokado. In 1990, Ito-Yokado controlled 51 percent of Denny’s Japan stock. In the early 1980s. Ito-Yokado decided that Denny’s Japan should purchase all rights to the Denny’s name in Japan. The purchase was made in 1984, and royalty payments to the U. S. parent were thereby discontinued. In fiscal year 1990 (March 1989 to February 1990), Denny’s Japan reported a net annual sales increase of 10. 9 percent, as compared with the 4. 9 percent Japanese restaurant industry sales increase for the same period= Exhibits 4 and 5 contain financial statements for Denny’s Japan. In 1988, Denny’s Japan began using an electronic order-entry system, which allowed managers of individual restaurants to quickly order food sup- plies based on trends in their own restaurants. It also allowed for the periodic updating of menus to reflect new food items. See exhibits 4 and 5. CONVENIENCE STORE OPERATIONS 7-Eleven Japan Since the opening of the first 7-Eleven store in 1974, the chain had grown to more than 4,300 stores located in virtually all parts of Japan by February 1990. 32 At that time, about 300 new stores were being opened annually. Ito-Yokado owned approximately 50. 3 percent of 7-Eleven Japan in 1990. Originally, young urban workers represented the primary customer base. As 7-Eleven penetrated the Japanese market, however, almost everyone became a potential customer. In Tokyo, for example, utility bills could be paid at the chain’s stores. The 7-Eleven stores were small enough, with an average of only 1,000 square feet, to effectively avoid regulation under the Large Store Regulation Act. This allowed 7- Eleven to compete with the mom-and-pop retailers on the basis of longer hours of operation and lower prices. Faced with this competition, many of the small retailers joined the ranks of 7-Eleven. By converting small retailers to 7-Eleven stores, Ito-Yokado was able to expand rapidly and blanket the country† 7-Eleven Japan pursued a strategy of franchising stores instead of owning them. The franchise commission for 7-Eleven stores was approximately 45 percent of the gross profit of the store (the commission was 43 percent for 24-hour stores). Ito-Yokado provided most of the ancillary functions for each store (e. g. , administration, accounting, advertising, and 80 percent of utility costs). In 1987, 92 percent of all 7-Eleven stores in Japan were franchised. † and by 1990, only 2 percent of the 7-Elevens were corporate owned. † Within the Ito-Yokado group, 7-Eleven contributed 6. 8 percent of revenues in 1990. With this relatively small portion of overall corporate revenues, however, 7- Eleven Japan contributed more than 35 percent of the group’s profit. Under its licensing agreement, 7-Eleven Japan paid royalties of 0. 6 percent of gross sales to the Southland Corporation. In 1989 and 1990, 7-Eleven Japan paid royalties of about $4. 1 million and $4. million, respectively. The financial statements for 7-Eleven Japan for the years 1986 to 1990 are shown in Exhibits 6 and 7. OPERATION REFORM PROJECT Ito-Yokado implemented the Operation Reform Project in late 1981 in a retail industry environment punctuated by reduced consumer spending and decreasing margins. The goals of the project were to increase efficiency and boost profitability by increasing the inventory turn while avoiding empty store shelves. The plan was originally implemented in the Ito- Yokado Superstores and the 7- Eleven Japan convenience stores. The implementation of the project involved a coordinated effort of catering to rapidly changing consumer preferences while, simultaneously, monitoring merchandise flow more closely. This coordination was accomplished by making individual store managers more responsible for such decisions as what merchandise was to be stocked on store shelves, thus allowing managers to tailor merchandise selection in their individual stores to local preferences. Top Ito-Yokado regional managers held weekly meetings with store managers to monitor the implementation of the project. As late as 1988, these meetings were still held on a weekly basis. † In order to avoid depletion of store stocks, Ito-Yokado established an on-line ordering system with vendors. In 1982, the ordering system reached only 400 vendors. By 1988, however, the system linked Ito- Yokado with 1,860 vendors. Point-of-Sale System As implementation of the Operation Reform Project began, Ito-Yokado paid increased attention to the importance of obtaining information regarding the flow of merchandise through individual stores. The tool chosen to accomplish this task was the point-of-sale system. POS system usage was increasing in the United States in the early 1980s, but the systems were used primarily to increase productivity at the cash register. In contrast, Ito- Yokado used similar systems as a part of the project by monitoring specific merchandise flow. As of the late 1980s, many retailers in the United States had begun utilizing POS in similar capacities, and some had begun to use POS to track the purchases of individual consumers. The first use of POS systems in Japan came in 1982, when 7-Eleven Japan began installing them in its stores. By 1986, every 7-Eleven store in Japan was equipped with such a system. The systems available were sophisticated enough to monitor the entire stock of merchandise in a typical convenience store having about 3,000 items. ‘ The systems could monitor the flow of every item of merchandise through the purchase, inventory, sale, and restocking stages. In late 1984, Ito-Yokado decided to install POS systems in the superstores. The soph istication of those systems installed in convenience stores, however, was not adequate to handle the merchandise flow of a superstore, which could stock up to 500,000 items. † New POS systems were developed n a coordinated effort by Ito-Yokado, Nippon Electric, and Nomura Computer Services. The installation of POS systems in the existing superstores was completed in November 1985, with more than 8,000 POS registers installed in 121 stores. † With 138 stores in 1990, Ito-Yokado had an estimated 9,000 POS registers in the superstores alone. In 1986, after the systems had been installed in all superstores and 7-Elevens, Ito- Yokado accounted for about 70 percent of the POS systems in use in Japan as of 1988; 7-Eleven Japan was the only major convenience store chain in Japan to have installed POS systems. By August 31, 1989, Japan had 119,137 POS scanner-equipped registers in 42,880 stores, making it the country with the most POS systems in use. † The POS systems used by 7-Eleven Japan and Ito-Yokado superstores were upgraded in 1986 to add a new dimension to Ito-Yokado’s Operation Reform Project. The upgraded systems allowed for bidirectional communication with the company headquarters. This feature essentially allowed information to flow not only from individual stores to a central location, but also from the central location back to individual stores. By linking the central system to other computer systems, more information than just sales of retail items could be transmitted. This capability allowed Ito-Yokado to increase the efficiency of deliveries by centralizing some orders. By increasing the total size of orders, Ito-Yokado increased its bargaining position with distributors. One result of this bargaining strength was more frequent deliveries of smaller volume. From 1987 to 1988, deliveries increased from one to three per week for stores in many regions of Japan, notably the Tokyo, Hokkaido, and Kyushu areas. Using the POS systems, 7-Eleven began to offer customers door-to-door parcel delivery in conjunction with Nippon Express. In addition, some POS terminals were being used to issue prepaid telephone credit cards+’ Since October 1987, Tokyo-area customers had been able to pay their electric bills at 7-Eleven; since March 1988, they had also been able to pay their gas bills Women traditionally manage household finances in Japan, so these services were designed to attract more women customers to the convenience stores. Results For the Ito-Yokado superstores alone, average days of inventory decreased from 25. in 1982 to 17. 3 in 1987. By 1990, it was estimated to be 13 days. The effect on operating margins and net income for the entire Ito-Yokado Corporation was equally dramatic. In 1982, the company’s operating margin stood at 5. 1 percent. It had increased to 8. 1 per- cent by 1987. By 1990, the operating margin had climbed to 10. 5 percent. Net income for the corporation i ncreased from ? 14,662 million in 1982 to ? 34,649 million in 1987, and ? 58,465 million in 1990. 7-Eleven Japan recorded similar increases in operating margins and net income during the same period. In 1982, 7-Eleven Japan’s operating margin was 20. 7 percent. It had increased to 34. 6 percent by 1987. Net income from the 7-Eleven operations increased from ? 7,837 million in 1982 to ? 33,000 million in 1987. As of 1990, the Ito-Yokado Corporation was the second largest retailer in Japan, with ? 1,664,390 million of annual gross sales. The leading retailer was Daiei, with ? 2,114,909 million of revenues. Ito- Yokado was, however, the most profitable retailer in Japan, with net income of ? 58,465 million. In comparison, Daiei recorded net income of only ? 9,457 million for 1990. Financial statements for Daiei are shown as Exhibits 8 and 9. THE SOUTHLAND CORPORATION The Southland Corporation began in Dallas, Texas, in 1927 when Claude S. Dawley consolidated several small Texas ice companies into the Southland Ice Company. This new company was under the direction of 26-year-old Joe C. Thompson, Sr. Under Thompson’s guidance, Southland began to use its retail outlets (curb service docks) to sell products in addition to ice, such as watermelon, milk, bread, eggs, and cigarettes. With the addition of these products, the concept of the convenience store was born. During the Great Depression and the 1940s, Southland’s convenience store business added several more products, including gasoline, frozen foods, beauty products, fresh fruit and vegetables, and picnic supplies. Because the store opened at 7 AM and remained open till 11 PM, the store name 7-Eleven was adopted during this time. The 1950s were a period of substantial growth in terms of the number of stores and of 7-Eleven’s geographical coverage. The first stores located outside of Texas were opened in Florida in 1954. During the same year, 7-Eleven’s operating profit surpassed the $1 million mark for the first time. By 1959, the entire 7-Eleven empire constituted 425 stores in Texas, Louisiana, Florida, and several other East Coast states. John Thompson became president of Southland when his father, Jodie Thompson, died in 1961. During the 1960s, a population migration toward the suburbs and changing lifestyles presented Southland with new growth opportunities. John Thompson lead Southland on the path of expansion, and more than 3,000 stores were opened in the decade. The product line of 7-Eleven also grew during this time to include prepared foods, rental items, and some self-service gasoline pumps. The 1970s were also a period of achievement for Southland. In 1971, the $1 billion sales mark was surpassed. Southland- stock began trading on the New York Stock Exchange in 1972, and the 5,OOOth store was opened in 1974. It was at this time that Masatoshi Ito approached Southland with the prospect of franchising 7-Eleven stores in Japan. During the 1970s and early 1980s, Southland’s activities became more diversified. In 1986, the company had four operating groups: the Stores Group, the Dairies Group, the Special Operations Group, and the Gasoline Supply Division. The Stores Group represented the largest of the operating groups in terms of sales through the 1980s. The Stores Group was responsible for the operating and franchising of convenience stores. At the end of 1985, there were 7,519 7-Eleven stores in most of the United States and five provinces of Canada. This group was also responsible for 84 Gristede’s and Charles Company food stores. 38 Super-7 outlets, and 7-Eleven stores operated under area licensees in the United States, Canada, and several Pacific Rim countries, including Japan. The Dairies Group was one of the nation’s largest dairy processors in 1986 and served primarily the Stores Group, although aggressive marketing in the 1980s targeted service to institutional dairy needs. This group operated in all of the United States and parts of Canada. The Special Operations Group consisted of Chief Auto Parts (acquired in 1979); Pate Foods (a snack food company): Reddy Ice (the world’s largest ice company); and Tidel Systems (a manufacturer of cash dispensing units and other retailer equipment). The Gasoline Supply Division was formed in 1981 to serve the gasoline requirements of the more than 2,800 7-Eleven stores handling gasoline. This division’s history was punctuated by the 1983 acquisition of Cities Service Refining, Marketing, and Transportation businesses (CITGO) from Occidental Petroleum. Southland’s Recent Activities Southland’s dramatic growth and diversification during the 1970s and early 1980s resulted in 7-Eleven having a dominant position in the convenience store industry. Despite this position, circumstances since the mid-1980s had greatly eroded 7-Eleven and Southland’s strengths. The oil price collapse of early 1986 was the sharpest drop of crude oil prices in history. The instability of crude oil and wholesale refined products, coupled with CITGO’s inventory methods and various write-downs, resulted in only modest income for a previously very profitable company. The volatility of CITGO’s financial position greatly affected Southland’s earnings. Southland’s equity interest in CITGO contributed to a $52 million loss for the entire corporation in 1986. In order to reduce the impact of an unstable crude oil market and the accompanying volatility of CITGO’s earnings, South- land entered into a joint venture with Petroleos de Venezuela (PDVSA) in late 1986. The joint venture with PDVSA had several components. Southland sold a half- interest in CITGO to a subsidiary of PDVSA for $290 million. In addition, PDVSA agreed to both supply CITGO with a minimum of 130,000 barrels of crude oil per day and pro- vide its share of CITGO’s working capital requirements. A takeover attempt of Southland occurred in April 1987. Canadian financier Samuel Belzberg approached the Southland board of directors with an offer of $65 per share of common stock. Unwilling to relinquish control of Southland, the Thompson family tendered $77 per share for two-thirds of the outstanding shares in July 1987. The other third of the shares would be purchased at $61 per share (plus $16 per share of new preferred shares) by the would-be private Southland Corporation. Financing for this acquisition came from $2 billion in loans from a group of banks and a $600 million bridge loan from Goldman, Sachs and Salomon Brothers. An additional $1. billion was generated by the issue of subordinated debentures Gunk bonds) in November 1987. This occurred after the stock and junk bond markets crashed in October 1987. Southland’s investment bankers had to sell the bonds at a blended rate of almost 17 percent, instead of the anticipated rate of 14. 67 percent. The Thompson family emerged from the buyout owning 71 percent of Southland at a total cost of $4. 9 billion. Paying the High Costs of a Leveraged Buyout After Southland had been taken private through the leveraged buyout (LBO), significant changes occurred in both Southland and 7-Eleven operations. Southland was restructured, with the elimination of two levels of middle managers. During this time, Southland began selling more 7-Eleven stores than it opened in the United States and Canada. Due to the increased number of licensees opening stores overseas, however, the total number of stores worldwide continued to increase. 7-Eleven Japan was primarily responsible for this increase, with the opening of 340 stores in 1988 and 349 stores in 1989. Southland also divested itself of many large assets in the 1988 to 1990 period (see Exhibit 10). Significant in this group of divestments were the entire Dairy Group, more than 100 7-Eleven stores in the continental United States, Southland’s remaining interest in CITGO (sold to PDVSA), and 7-Eleven Hawaii, (purchased by 7-Eleven Japan). In November 1989, 7-Eleven Japan purchased 58 stores and additional properties from Southland. These properties and stores, which were located in Hawaii, were exchanged for $75 million in cash. The 58 convenience stores were organized as 7- Eleven Hawaii, which was established as a subsidiary of 7-Eleven Japan. As of December 31,1990, Southland operated 6,455 7-Eleven convenience stores in the United States and Canada, 187 High’s Dairy Stores, and 63 Quick Mart and Super-7 Stores. Southland owned 1,802 properties on which 7-Eleven stores were located. Another 4,643 7-Eleven stores in the United States and Canada were leased. In addition the company possessed 234 store properties held for sale, of which 109 were unimproved. 77 were closed stores! and 48 were excess properties adjoining store locations. Three of Southland’s four food-processing facilities were owned (the other was leased). The company owned six properties in the United States on which distribution centers were located. Five of the six distribution centers were company owned. Until December 1990 the company had also owned its corporate headquarters (called City- place) located near downtown Dallas. 59 Financial statements for Southland Corporation are shown in Exhibits 11 and 12. THE PROPOSED PURCHASE OF SOUTHLAND BY ITO-YOKADO The divestments of 1988, 1989, and 1990 constituted attempts by Southland to generate sufficient cash to service the massive debt incurred from the LBO of 1987. By early 1990, however, it was apparent that the cash generated from these divestments and Southland’s operations was not sufficient to cover its interest expense. Some experts estimated that Southland’s cash shortfalls would reach $89 million in 1990 and more than $270 million in 1991. 60 Southland’s long-term debt still totaled about $3. 7 billion, and interest expense alone in the first three quarters of 1989 was almost $430 million. † In March of 1990, Southland announced that it was seeking â€Å"rescue† by Ito-Yokado. Proposed Acquisition of Southland by Ito- Yokado Southland had â€Å"looked at possibilities of receiving assistance from other U. S. companies, but decided that†¦ Ito-Yokado was the best potential partner. â€Å"63 The original proposal would have resulted in Ito-Yokado receiving 75 percent ownership of Southland for $400 million. This proportion of Southland would be split between Ito- Yokado and 7- Eleven Japan, with 7- Eleven Japan obtaining two-thirds of the 75 percent share. The deal was contingent on Southland’s ability to swap its outstanding publicly traded debt for stock and zero-coupon (non-interest-bearing) bonds. The publicly traded debt amounted to approximately $1. 8 billion. There were five classes of public debt, ranging in type and interest paid. The interest rate of the bonds varied from 13. 5 percent to 18 percent. Ito-Yokado’s offer was also contingent on 95 percent of all bond- holders of each public debt issue accepting the swap. Under this original proposal, the Thompson family would retain a 15 percent stake in Southland, and the remaining 10 percent of the company would be held by bondholders. The original proposal had a deadline of June 14, 1990, at which time either Ito- Yokado or Southland could cancel the agreement. Neither party indicated that such action would be taken, even though Southland’s bondholders balked at the swap proposal. A bigger problem was facing the two companies: a rapidly approaching interest payment due on June 15, 1990. Southland’s failure to pay the $69 million payment would result in Southland having a 30-day grace period in which to compensate bond- holders. At the end of the 30-day period, unpaid bondholders could try to force South- land into bankruptcy court. Revisions to the Proposed Buyout Southland did not make its scheduled interest payment that was due on June 15, 1990. Bondholders, meanwhile, had shown little regard for the original deal struck between Ito-Yokado and Southland. Three more revisions of the proposed debt restructuring and terms for the buyout were submitted between mid-June and mid-July 1990. In each revisi on, either Ito- Yokado’s or the Thompson family’s stake in Southland was reduced and the share of Southland stock offered to bondholders increased. With each revision came increased bondholder support, yet this support was far short of either the two-thirds majority (as required in Chapter 11 restructuring cases) or the 95 percent acceptance rate dictated by Ito-Yokado, As revisions were submitted, the expiration dates of the debt restructuring and stock purchase by Ito- Yokado were extended. On July 16, a bondholder filed suit against Southland for failure to pay interest on June 15, because on July 15 Southland’s grace period had expired. By September 12, a majority of bondholders had tendered their notes. This majority was still far short, however, of the 95 percent swap requirement dictated by Ito-Yokado. The deadlines were extended to September 25 for both the debt swap offer by Southland and the stock purchase offer by Ito-Yokado. As Southland was apparently headed for involuntary bankruptcy filing under Chapter 11, the proposal again seemed in jeopardy. Acceptance of the Proposed Buyout The deadline for Southlandâ €™s debt swap offer was again extended. Bondholder approval was finally obtained in late October. Ito-Yokado’s offer to buyout Southland was extended to March 15, 1991, pending court approval of the prepackaged bankruptcy dea1. The bankruptcy-court petition for approval of the prepackaged debt restructuring was filed on October 24,1990. Although Southland did not have sufficient bondholder approval as dictated by Ito-Yokado, the bankruptcy court proceedings were swift. The last few bondholders who held out were placated in January when the Thompsons relinquished warrants for half of their 5 percent stake of Southland’s stock. † On February 21, 1991, the U. S. ankruptcy court in Dallas approved the reorganization of Southland.?! At that time, at least 93 per- cent of the holders of each class of debt issued by Southland had approved the reorganization. On March 5, 1991, Ito-Yokado purchased 71 percent of Southland’s stock for $430 million. Two-thirds of this stock was purchased by 7-Eleven Japan, and the other third purchased directly by Ito-Yokado. The terms of the accepted debt-restructuring agreement between Southland and its bondholders are shown in Exhibit 13. THE CONVENIENCE STORE INDUSTRY IN THE UNITED STATES The convenience store industry in the United States changed dramatically during the decade of the 1980s. The number of convenience stores in the United States, the gross sales of these stores, and the gross margins all increased during this time period. The net income of convenience stores, however, decreased significantly. This outcome was largely the result of the rapid expansion of several chains of convenience stores and the increased number of convenience stores opened by oil companies. Aggregate Measures of the Industry The number of convenience stores grew from about 39,000 in 1982 to more than 70,000 in 1989. From 1985 to 1989, industry sales increased from $51. 4 billion to $67. 7 billion, an increase of 6. 3 percent per year. Gross margins increased from 22. 8 percent in 1985 to 26. 2 percent by 1988. Despite such growth, convenience store operations experienced a decrease in net profit in the late 1980s. The total industry pretax profit peaked in 1986 at $1. 4 billion, fell to $1. 16 billion in 1988, and plummeted to $271 million in 1989. Some trends are shown in Exhibit 14. The expansion of convenience stores in the 1980s was led by large convenience store chains and oil companies. In addition to the growth experienced by the Southland Corporation’s 7-Eleven, Circle-K, a Phoenix-based convenience store chain, expanded from 1,200 stores in 1980 to 4,700 stores in 1990. The Role of the Oil Companies The impact of oil companies on the convenience store industry had been significant. Virtually all of the major U. S. oil companies began combining convenience store operations with gasoline stations in order to boost profits. In 1984, Exxon opened its first combination convenience store and gas station. By 1989, it had 500. Texaco operated 950Food Marts in the same year. From 1984 to 1989, the number of convenience stores operated by oil companies increased from 16,000 to 30,000. Gasoline sold at a lower margin (about 6 percent in 1984) than nongasoline convenience store products (32 percent in the same year), so the sale of convenience store items presented an opportunity for those gas stations with good locations (i. e. , street comers) to increase profits. In order to capitalize on the potential for higher profits in retailing, the major oil companies boosted their marketing expenditures. In 1979, the petroleum industry spent about $2. 2 billion for their marketing efforts. By 1988, these expenditures were almost $5 billion. The convenience stores operated by oil companies were growing in both number and size. In 1986, only about 20 percent of the oil company convenience stores were 1,800 or more square feet in size (the size of about 90 percent of traditional convenience stores). By 1990, however, more than 50 percent of the oil company convenience stores were between 1,800 and 3,000 square feet in size. â€Å"? Merchandise Trends for Convenience Stores Because of the intensified retailing efforts of oil companies and large convenience store chains, some trends (other than those mentioned previously) evolved. In 1985, gasoline accounted for 35. 4 percent of convenience store sales. By 1989, gasoline accounted for 40 percent of sales. † The gross profit margin for gasoline sales had increased from 7. 3 per- cent to 11. 7 percent more than the same period. â€Å"? Of the 61,000 convenience stores in the United States in 1985,55 percent sold gasoline, and in 1989, 65 percent of 70,200 convenience stores sold gasoline. In 1989, 75 percent of the new convenience stores built were equipped to sell gasoline. † Although gasoline sales and margins became an increasingly significant contributor to convenience store revenues, contributions of revenue from other merchandise stagnated. In 1985, merchandise (other than gasoline) sales for the convenience store industry amounted to $33. 2 billion. In 1,989, sales reached $40. 6 billion. † This increase in merchandise sales, however, was offset by the large number of store openings. In 1985, the average yearly merchandise sales per store was $544,000. This number increased to only $578,000 in 1989. THE SETTING While flying from Japan to the United States, Takahashi reflected on the success that both Ito-Yokado and 7-Eleven Japan had enjoyed over the course of many years. These achievements were the result of long-term strategies that were carefully tailored to the Japanese market. Could these same, or similar, strategies be the foundation for making Southland financially successful again? He realized that the convenience store industry in the United States was vastly different from that of Japan. Nevertheless, he was confident that, through careful and thorough planning, the goal of making Southland profitable could be achieved. -11 pts if late (after 6pm of due date) and additional -5pts for each day thereafter for max late points of -26 pts. Lists the Strengths / Weaknesses/ Opportunities / Threats for the Ito-Yokado Company (total 10 pts) SWOT analysis. Strengths (list and briefly discuss only 3) 1 pt each for total of 3 pts. SWOT, defined as the strength, weaknesses, opportunities and threats is an organizational tool used to analyze core competencies of a business. And like most businesses the Ito-Yokado Group consisting of three business segment (superstores and retail operations, restaurants operations, and convenience store operations) is no different. The strategies used to expand its operations Point of sale register, diversified portfolio, name(branding) and strategic location Weaknesses (list and briefly discuss only 2) 1 pt each for total of 2 pts Opportunities (list and briefly discuss only 2) 1 pt each for total of 2 pts The need for new ideas, real estates, the most vulnerable (younger generation) Threats (list and briefly discuss only 3) 1 pt each for total of 3 pts. The threats faced by the Ito-Yokado Group are: competition from mom and pops store, decrease in disposable income and Large Store Restriction Acts. As discussed in the article, the Large Store Restriction Acts influence by rival competitors makes it challenging for the organization to cater to its consumer needs. The result is not only deprived customer, but decrease in revenue, as the laws restrict the size of the store, making it impossible to grow different variety in store products. Another threat is consumer income, the limited consumer income, means consumer has limited amount for discretionary spending. And last but not least is the competition from mom and pops stores. These types of small businesses despite their sizes can pose a real threat for large companies such as 7-Eleven, reason being, is the fact that they are better known and rooted within the community. Essay questions to be answered in detail. (18 pts for each question for total of 90 pts) 1. What were some of the primary reasons for Ito-Yokado’s remarkable degree of success during the past several decades? Globalization in my opinion was one of the biggest factors in the company success. Today’s market makes fierce competition therefore businesses no longer can afford to operate locally. In order for them to be successful, they must join the rest of the world in forming partnership through Joint Ventures, Franchising, Licensing, and Foreign Subsidiaries. While the advantages of globalization exist, it is not without its disadvantages. The transformation of a company from a local organization into a transnational organization is not an easy task mainly because of the various laws, time, efforts, and monetary investment that one must be able to shoulder before taking on such venture. The factors listed include, but are not limited to political stability, relationship between the two countries, licenses fees, market responsiveness, and the cost can determine the successfulness of a business. In addition, the careful planning and leadership ability can also determine whether or not a business can make the transformation successfully. As a leader one of the primary goals is to have a vision that can be communicated down the chain. And as demonstrated by Ito-Yokado, he clearly demonstrated his vision for the company by strategically expanding the company’s operations into three different segment ranging from retail stores, restaurants chain and convenient stores. The result was a diversified portfolio with increase revenue. Another reason of success can be measured by the risk decision made by the company’s leaders. With any operation whether personal or professional, one must be willing to take isk, a risk in which the benefits outweigh the cost. Although the transformation from the Japanese market to the American was uncertain, because of factors such as consumer responsiveness, income, laws and applicable regulations, the decisions to invest into the various markets was worthwhile all because of proper planning and market response. The result was a successful Ito-Yokado group. 2. How did Ito-Yokado ’s 7-Eleven Japan differ from Southland’s 7-Eleven operations during the 1980s? While the two shares the same name the difference in their operations where obvious. The 7-Eleven in Japan compared to that of Southland differ in their operation that is, the door-to-door parcel delivery by Nippon, the convenience of bill pay for its customers, faster growth opportunities through franchising. Because of the Large Store Restriction Act, the company was limited in growth to expand its physical location; as a result, they resort to a smaller size stores strategically located in suburban areas. This venture was a deliberate marketing strategy used to penetrate the most vulnerable areas (suburbs) and fight off competitions brought on by the moms and pops stores. While the 7-Japan thrive in its operations of smaller stores with over 3000 items with point of sales register, their counterpart was not far behind. Under the leadership of John Thompson, the 7-Eleven in Southland were able to operate convenience stores with expanded products and services including; low cost gasoline, and prepared food. Despite troubles with the oil industry, the 7-Eleven of Southland was able to form a partner with Oil Company such as CITGO and largest ice producer Reddy Ice. The result was a perfect union that brought about increase revenues. The union however, was short lived, as the company profit plummeted and had to file for bankruptcy. 3. What are Ito-Yokado and Z-Eleven Japan getting for their $430 million? 4. What is your prognosis for Southland under Ito-Yokado ownership? Will Ito-Yokado be successful? Based on the article, it is apparent the management and leadership of Ito-Yokado Group are making the right decisions and stirring the company in the right direction. This is evident through it increase franchising of stores and increase revenue. While the Group might be successful in Japan, areful consideration must be given to the market in the United States. As noted in the reading, the Southland Group under the leadership of John Thompson has had its share of misfortune mainly because of the oil industry. The fall in oil prices and volatility of the market resulted in loss of profit and buyout. While the venture of acquiring Southland Group, Ito-Yokado, must ensure it does it homework, with proper study of the U S market. They must also, realize that the US market is one of capitalism with fierce competition. Unlike Japan, there are no such rules as the Large Store Restriction Act, as long as the proper conditions are met with the right paperwork, a business can expand as necessary. Another determining factor is the need for the product. yes the idea to expand is great! However, is it cost effective or will the company be better off 5. Is 1to-Yokado a global company? Explain your answer. The answer whether Ito-Yokado was a global company would be yes based on the fact that the company operate in more than one country with various subsidiaries. Ito-Yokado, will be consider Multinational Corporation simply because the operation and production of its products and services were done both in the United States and Japan. In addition the trading of its stocks was offered on both the NYSE, and the Japanese trading markets, thereby influencing the economy of both nations. Another important factor is the fact that nowadays, globalization makes it almost impossible for businesses to operate locally. For this reason they must be willing and able to compete on a global stage with numerous    How to cite Financial Management in Non Profit Organizations, Papers

William Shakespeare †Shakespearean Authorship Research paper Essay Example For Students

William Shakespeare – Shakespearean Authorship Research paper Essay Many persons say that William Shakespeare of Stratford is the original author of all 38 dramas and 154 sonnets. It is argued that person else other than Shakespeare wrote these dramas. William Shakespeare was born April 23. 1564 in Stratford-Upon-Avon. Shakespreare was a lower middle-class adult male. William Shakespaeare. boy of John Shakespeare. a baseball mitt shaper and town functionary and Mary Arden who belonged to a household of the local aristocracy. Besides. male parent of Susan and Judith Shakespeare. Shakespeare attended King Edward VI School. a boys’ grammar school and academy in Stratford-upon-Avon. Warwickshire. England. Overall. there was ne’er adequate information to lucubrate on who Shakespeare truly was and what he did. which leads to open sentiments and arguements on who wrote these dramas. There are many persons who are said to hold written those dramas that Shakespeare claims to hold written himself. Christopher Marlowe. a undercover agent in the authorities and one of England’s best drama authors before Shakespeare came along. rote Doctor Faustus in the old ages of 1564-1593 when Shakespeare was born. In the twelvemonth of 1593. Christopher was announced dead. but. because he was a undercover agent in the authorities. it was ne’er truly proven if Mr. Marlowe was dead or alive. A few old ages subsequently in the Elizabethan Era. Shakespeare staged Doctor Faustus as his ain drama. Sir Francis Bacon of Strand. England served as Lord Chanceller of England and an lawyer. We will write a custom essay on William Shakespeare – Shakespearean Authorship Research paper specifically for you for only $16.38 $13.9/page Order now Bacon was born January 22. 1561 and was an writer. hilosopher. scientist. legal expert. solon and speechmaker. Francis Bacon. besides created the Baconian theory of Shakespearean writing which indicates that Sir Francis Bacon wrote the dramas attributed to Shakespeare and that Shakespeare was merely a forepart to conceal the individuality of Bacon because excessively much recognition towards Bacon would impede his aspiration to keep a high place. The Baconian theory of Shakespearean authroship gives Shakespeare the right to state he is the writer. Based on research. I believe Shakespeare did non compose all 38 dramas and 154 sonnets because every drama Shakespeare wrote was created in the same old ages or earlier. Shakespeare took recognition for the re-making of the dramas and sonnets which. led to many persons believing Shakespeare’s dramas are reliable. Harmonizing to my apprehension of the life of Williams Shakespeare. there was ne’er adequate records and information on Shakespeare to turn out if he completed grammar school. If he wrote plays himself or if he did compose any dramas himself. why did he all of a sudden halt. Did he run out of stuff? It makes one admiration. how Shakespeare randomly go a play author of such high position. if his female parent and male parent were simply close to being authors and his two girl were said to be illiterate. In decision. I believe. Shakespeare did non compose all 38 dramas. but. I suppose Shakespeare is non incorrect for taking recognition based off of the Baconian theory of Shakespearian writing.