Business and Financial Environment Essay Example | Topics and Well Written Essays - 2250 words

Business and Financial Environment - Essay Example As the company includes more and more debt to its capital structure the rate of Return required by the company increases. WACC which comprises of weighted average of cost of Debt and cost of Equity increases as the firm is exposed to more and more debt. The increase in debt increases the risk of the company and as the debt to equity ratio in a capital structure of the firm increases the Return on Equity required by the firm increases which increases the WACC for the firm. This will also increase the amount of earnings required by the firm to keep its value to its previous position. This risk inherent for an organization due to its operations is called business risk. It is the risk of a firm when it uses no debt. Technically or in terms of formulation it is the uncertainty in the future returns on assets of a firm (ROA). We can write ROA as: This gives us a way to measure the business risk of an un-levered firm i.e. measuring deviations in the ROE of that firm. Such a business risk is called firm's Basic Business Risk. "Business risk is the uncertainty associated with operating cash flows of a business. There are different dimensions of business risk, namely sales risk and operating risk (mtholyoke, 2007)". Variations in business risk not only depend on the type of industry a firm is operating in but also varies within the industry from firm to firm. Business risk's dependence is influenced by six common factors. a) Demand Variability the more the variations in demand of a firm's product, the more will be its business risk b) Sales Price Variability firms which operate in a market where prices are stable faces low business risk as compared to the firms which operate in a highly volatile market. c) Input Cost Variability the firms who are weak on the supply side and have high variability in input costs are exposed to high risk d) Adaptability of output prices with changes in input prices the firms which are in command to change their output prices with changes in input prices are less exposed to business risk. e) Ability to develop new products in a timely, cost effective manner the more the industry requires introduction of new products in market, the more the firm will be exposed to business risk f) Degree of operating leverage the high the degree of operating leverage the firm is operating at, the more will be its business risk Operating Leverage the firms which have high degree of operation leverage i.e. a major portion of their operations depends upon fixed cost leaves their firms more exposed to business risk. That means a decline in sales will not decline the cost since major portion of cost is fixed therefore even a smaller decline in sales

Ecotourism in Zanzibar and Kenya Essay Example | Topics and Well Written Essays - 1000 words

Ecotourism in Zanzibar and Kenya - Essay Example Ecotourism has been argued to play vital roles in salvaging some of the world’s endangered ecosystem. Proponents of the concept also believe that it provides a platform through which state or society can develop or adopt sustainable economic strategies so as to safeguard biological resources. It is worrying to point out the fact that most communities that own biological resources have been pursuing environmentally-damaging strategies. Ideally, ecotourism is helpful in finding a compromise between preserving the natural environment and pursuing development. Even though some countries have successful implemented this concept, others still face a great deal of challenges. Zanzibar and Kenya are some of the few African countries that have successfully implemented ecotourism concept. This essay compares and contrasts some of the ecotourism practices that have been implemented in Zanzibar and Kenya (Honey, 1999). Similarities Creation of the Independent Ecotourism Society (TIES) In both Zanzibar and Kenya, The International Ecotourism Society (TIES) was formed purposely to get a tourism that is friendly to the natural environment and culture of a country. In both countries, the body has employed people who travel from one natural area to another to ascertain the nature of tourism that would conserve the environment and improves well-being of the people (Honey, 1999). The body has been working hard to change the perceptions of the tourists, create environmental awareness and explore natural environments. The independent body is constantly working a vast number of collaborators and supporters. In both countries, the body has attracted members from diverse cultural backgrounds. They draw knowledge from these members and utilize them as channels for spreading information about ecotourism. Ecotourism’s conservation efforts and strategies (Visitors’ attitudes and feedback) In Zanzibar and Kenya, visitors’ attitudes and feedback on ecotourism in the country is taken seriously as it is incorporated into ecotourism management tourism. The information provided by visitors helps in predicting the consequences of actions on the ecotourism experience. It is crucial for any country to take into account satisfaction of tourists and ecological-well being (Honey, 1999). The two countries have been monitoring and assessing the conditions and situations of the sites commonly visited by tourists, and this has helped in the creation and protection of recreational resources for visitors. In addition, this has aid the provision of appropriate recreational experiences. Ideally, the two countries have been using visitor perceptions of the potential effects of tourists to ascertain indicators of monitoring environmental conditions. For example, Kenyan government, through the Ministry of Tourism and Natural Resources, has been utilizing data on visitors experience about the environmental impacts in Maasaai Mara and Amboseli (Honey, 1999). Main streaming sustainable tourism principles in states policies and programs In the 1980s, tourism sector in Kenya and Zanzibar was completely unplanned. Both governments were weak in their tourist planning and regulation. In addition, they were not even able to implement some of its ecotourism projects. However, this situation changed rapidly in towards the end of 20th century. In Zanzibar, the International Workshop on Ecotourism and Environmental Conservation of 1994 was a turning point of the Zanzibar’s tourism industry. Since then, Zanzibar has mainstreamed its tourist policies and programs to integrate the policy makers to ecotourism programs. This is also happening in Kenya. This practice is implemented using ecotourism workshops and study trips (Honey, 1999). Role of NGOS and

The Metallurgy Options for Tubing

The Metallurgy Options for Tubing The metallurgy of tubing is a very important factor while choosing tubing for a particular environment. Generally the tubing is made up of carbon or low alloy steels, martensitic stainless steel, Duplex stainless steel or other corrosion resistant alloys like Nickel-base alloy etc. METALLURGY FOR TUBING: Carbon steel is an alloy of carbon and iron containing up to 2% carbon and up to 1.65% manganese and residual quantities of other elements.Steels with a total alloying element content of less than about 5% but more than specified for carbon steel are designated as low alloy steel.Carbon steel is the most common alloy used in oil industry because of its relatively low cost. Though corrosion resistance of these steels is limited still they have been used in oil industry since long satisfactorily. They are suitable for mildly corrosive environments like low partial pressure of CO2 low partial pressure of H2S. A material selected for a particular environment may not remain suitable in the case the environmental conditions change.CO2 can cause extreme weight loss corrosion localized corrosion, H2S can cause sulphide stress cracking and corrosion. Chlorides at high temperature can cause stress corrosion cracking and pitting of metals, while low pH in general increases corrosion rate. For example the following material are considered to be resistant to sulphide stress cracking : Low and medium alloy carbon, containing less than 1% nickel. AISI 300 series stainless steels (Austenitic) that is fully annealed and free of cold work. The following materials have been found to have little or no resistance to sulphide stress cracking: AISI Grades 420 and 13% Cr martensitic stainless steel. All cold finished steels including low and medium alloy steels, many variety of stainless steel. The limitations of Carbon steel, 9-Cr-1 Mo, 13-Cr, Duplex stainless steel are encountered in various environments and downhole operations. METALLURGY OPTIONS FOR TUBING: The various metallurgical options examined for tubing and other downhole equipment are Carbon Low Alloy Steels, 9 Cr-1Mo steel, 13% Cr stainless steel, Duplex Stainless steel and nickel based alloys. A brief of the suitability and limitations of these materials in various environments encountered in oil and gas wells: 9Cr-1Mo steel. This steel is immune to stress corrosion cracking in the presence of chlorides like other nickel free low alloy steels. Corrosion resistance of this steel in the presence of H2S is poor. Hence it is not used in tubing metallurgy commonly. 13Cr Stainless steel. This steel can be used upto 100 atms CO2 partial pressure and upto 150 degree Celsius temperature with chloride upto 50 gms/L. This martensitic grade is known to be susceptible to sulphide stress cracking in sour environment.This material is generally used for sweet wells where minimum souring is expected. Duplex Stainless Steel. Duplex SS has excellent corrosion resistance in CO2 environment. The limitation of their usage is their susceptibility to stress corrosion cracking at high temperature and limited resistance to sulphide stress cracking, when H2S is present in the produced fluid. Nickel Based Alloys. Nickel based alloys are required to be used in extremely corrosive conditions involving very high partial pressure of H2S and CO2 along with presence of free sulphur or oxygen. SELECTION OF TUBING METALLURGY: From the various metallurgical options I have analyzed, it can be concluded that low alloy carbon steel is not suitable for the wells where high corrosion risk involved, particularly in offshore. If low allow materials were to be used, an intensive corrosion inhibitor treatment program is essential. However, even with the best of programs, the solution to the problem would be trial and error. Although 9Cr-1 Mo steels are resistant to CO2 attack, they should not be considered for this application since their application in chloride environment is limited up to 10 gms/l (1%).With the high concentrations of chlorides coupled with the high well bore temperature; this material is not suitable for downhole use in these wells. Duplex stainless steel is susceptible to chloride stress cracking and should not be used with the CaCl2 packer fluid. Also, the price for Duplex material is three to four times the cost of 13 Cr SS material, which would make it economically unacceptable. Hence, in spite of the additional up-front cost for tubing , it is recommended that based on the caliper survey results , high corrosion risk wells of field should be re-completed with 13% Cr SS L-80 tubing material. PROBLEMS OBSERVED: The occurrence of metal loss corrosion in pipeline is caused by the presence of corrodents in the produced water. Internal corrosion in pipeline can be caused by the presence of mill scale, slag inclusions, improper heat treatment, improper welding, too high or too low velocity etc. The erosion/corrosion effect can be caused by too high fluid velocity. Water and sludge build develop with too low fluid velocity that may cause pitting and bacteria infestations. At low fluid velocity, water will tend to segregate to the bottom of the pipeline. Once the pipeline is water wetted, the corrosion begins. When corrosion is not controlled, time to first failure due to corrosion will be normally from three to twelve years depending on the wall thickness and operating conditions. Corrosion of most material is inevitable and can seldom be completely eliminated. But it can be controlled by carefully selecting material and protection methods at the design stage. For example, as carbon steel is less resistance to corrosion allowance is given in addition to the design thickness when they are expected to handle moderately corrosive fluid. Similarly, external surface of the pipeline are protected from corrosive soils by providing protective coatings. Still, there is always unexpected failure which results from one or more of the following reasons : Poor choice of material. Defective fabrication. Improper design. Inadequate protection/maintenance. Defective material. CONCLUSION: Corrosion due to presence of CO2 gas along with unfavorable water chemistry is the cause of the piping failures. It is recommended that tubing metallurgy shall be of L-80 13 Cr stainless steel with premium joints. The downhole metallurgy shall be 13 Cr SS. These elastomeric materials include: Nitrile: A rubber compound with base material as Butadiene Acrylonitrile. Viton: A fluoroelastomer manufactured by Dupont. Fluorel: A fluoroelastomer manufactured by 3M company. Ryton: A polyphenylene sulfide manufactured by Philips Petroleum Company. REFERENCES: Effect of microstructure Cr content in steel on CO2 corrsion. By Masakatsu Veda, Aki Ikeda, Japan. Prediction of the risks of CO2 corrosion in oil and gas wells. By Jl Crolet, Mr Bonis. CO2 corrosion in oil wells. By Gunalton , Zadko.

The Theme Of Death In Othello and A Dolls House Essays -- compare cont

  Ã‚  Ã‚  Ã‚  Ã‚  The theme of death is present in many works of literature. It is given metaphors and cloaked with different meanings, yet it always represents an end. Every end signifies a new beginning, and every death gives rise to a new birth. Physical death â€Å"...is mere transformation, not destruction,† writes Ding Ming-Dao. â€Å"What dies is merely the identity, the identification of a collection of parts that we called a person. What dies is only our human meaning† (49). Figuratively speaking, death symbolizes a change, an interruption or cessation of regular routine. In this sense, death can be viewed as a more positive occurrence, because change leads to new experience, which, in turn, leads to knowledge and a better understanding of life. The plays Othello and A Doll House both encompass the theme of death. While the former deals with physical death, the latter depicts a change, a transformation of a period of time and a way of life.   Ã‚  Ã‚  Ã‚  Ã‚  Shakespeare’s Othello is a tragedy. The villain gains trust by appearing honest and, taking advantage of being undoubted, implants false ideas into Othello’s mind, causing him to believe in an illusion that portrays the opposite of reality. Shakespeare shows, by setting his plays in either antiquity or modernity, the evolution of human thought. His characters in antiquity acquire things through war and conquest, and are hasty in action and judgement. In modernity, however, the characters live in a regime that practices acquisition through trade and commerce. Logically, the characters in modernity are superior to the ones in antiquity. They prefer trade to war, and display logic through their actions. Because Shakespeare set his modern plays in Italy or England, Othello can be classified as a modern play. However, there are some elements of antiquity present in it, such as Othello’s murderous act. Not being logical, Othello looks at the imposed circumstances only through Iago’s perspective, and is completely overtaken by the lies. Emilia’s opinion on the matter doesn’t make any difference, because his mind is already made up by the time he speaks to her. Thus, Othello’s ability to reason is not very well-developed. How strong was he really, when his faith in groundless implications created such a rift in his character during the temptation scene, that he ended up murdering his... ...d fallen in love with her image of him. With this realization, Nora â€Å"dies† in the sense that she is reborn with a new understanding of herself. Death is symbolized through the end of her ignorant days, her marriage to Torvald, and the life she had known. She is reborn through enlightenment, with a desire to discover and understand herself, before anything else.   Ã‚  Ã‚  Ã‚  Ã‚  Whether physical or figurative, death adds a new dimension to Othello and A Doll House. Its presence gives the reader an eerie feeling and intensifies the depth of the plays. As readers, we wonder about the significance of death, and muse over what went on in the heads of Nora and, especially, Othello during the moment of truth. Nora believed in the illusion, whereas Othello was fooled into believing in it. They both went through a transformation, a step higher in consciousness, to a new beginning. Death is a link in the chain of life. Death as change or demise is often feared, because one doesn’t know what to expect. It is said that the best way to banish an enemy is to make it a friend. The concept of death, if understood, will unleash immortality.   Ã‚  Ã‚  Ã‚  Ã‚  

High School Diploma/Equivalency vs. College Degree

Frederick D. Huff, Jr. Rhonda Steel English 102 College Degree Vs. High School Diploma/Equivalency or No diploma at all â€Å"To be or not to be? , that is the question. † This is the opening statement of a soliloquy that was used in the playwright Hamlet by the great William Shakespeare. I guess you may be wondering why I would open with such a statement for a research proposal. This is what comes to my mind with I think about the ethics and importance of education.Whether this be the achievement of obtaining a college degree or just settling for a high school diploma is, the importance that each of these holds lies within the person that is getting the education. As I analyze and gain a further understanding of what true education means to me, I seem to gain a sense that defining what it means to have a true education for one seems to be undermined by many.Though this may come off as an aggressive approach towards addressing the selected topic of which I have chosen to prese nt my rhetorical analysis, I would like to state that it makes sense to me that many would agree that higher education is the key to all success, financially, materialistically, or spiritually. I say this because in mind, an education is just simply pursuing the subject that your soul is most passionate for. Through discovering what that passion is, you would strive in reaching the greatest point possible in that specific field as you can.Although it seems like this topic may be something that everyone would take a great importance to, it is quite surprising to see the responses given when citizens, including fellow students, are asked â€Å"Why do you feel education is important to the growth of the American Economy and why you find education to be important? † I feel this is a broad topic that can meet the requirements that need to be fulfilled for this assignment. I feel that this is a very appropriate topic for discussions as each of the individuals taking this online cou rse are currently considered to be students in pursuit of a college education.This topic also comes in correspondence of the requirements that need to be met for the research proposal as listed in the assignment prompt. Whether or not that college education is limited to an associate’s degree or a doctorate in Physiological engineering, the education obtained would still be considered a form of higher education. This can be a very open topic full of ideas but I feel I can centralize my stance in a general direction that all can relate to. Being the author, or writer as stated in the question, I could see this being a topic of interest for many.Including my fascination of education and why I feel it is an absolute necessity for our existence as American citizens, this passion could definitely feed over to valid and credible points of the difference between being college educated and just high school educated. This is a diverse topic and I feel it should be acknowledged. In my opinion, education is very important and must be an essential part of each functioning citizen. These reasoning coming from my perspective may be sort of bias and can pretty much tell how I feel regarding this topic, education is the reason why some of todays leaders have gotten to the point that they are in.I will be the first male in my family to not only attend a division 1 four year University but I will also be the first to receive a college degree. I think that this experience has not only changed my well being as a human but has also enlightened me with greater values and ethics that I now take a lot more serious then I did before. In conclusion, I know that the questions â€Å"Is it really as beneficial as it seems to be college educated or is that just a statement used for people for those that do want to go onto higher education?Why does it seem like there is becoming a greater standard for the education system and why is it becoming more of a mandate for everyone to stri ve for higher education? Does it really require a college education to be a success in America or is success just a state of mind? † all come to mind. As I stated before, this can only come from the individual receiving the education but the real question should be â€Å"Do you value yourself enough to achieve greater through your education? † Education: The Single Most Important Job. † Edutopia. N. p. , n. d. Web. 13 Feb. 2013. â€Å"Diversity and Higher Education: Theory and Impact on Educational Outcomes – Harvard Educational Review – Volume 72, Number 3 / Fall 2002 – Harvard Education Publishing Group. † Diversity and Higher Education: Theory and Impact on Educational Outcomes – Harvard Educational Review – Volume 72, Number 3 / Fall 2002 – Harvard Education â€Å"Open Educational Resources. † Hewlett Foundation News. N. p. , n. d. Web. 13

External Environment Analysis

With the rapid improvement of people’s living standard and deeper demand for food variety and quality, these environmental changes both external and internal pose a more significant impact on organization’s decisions. This essay describes the two types of environments that organizations have to deal with. One is external environment and the other is internal environment. The first section in this essay describes the two types of business environments: external and internal environment. Next in the second section, it will explain the definition of environmental uncertainty and managing environmental uncertainty. After that it will discuss adaptive and non-adaptive culture. Running through this essay, an organization is used as an example to explain all the discussion and corresponding solutions are also contained in each section in this essay. There are mainly two types of business environments, internal and external. The external environment can be further categorized into task environment and mega environment. The mega environment is the general external environment in which the organization functions. The task environment comprises more specific elements that act directly on the organization. In the mega environment, organizations operate and exert pressure on the organizations ability to achieve its vision, mission and goals. The mega environment has five elements including technological element, economic element, political element, cultural element and the international element. Generally, these five elements have negative influence on the organization but they can also exert positive effect by providing chances for increased profitability and product improvement such as launching new flavour of desserts. The task environment which differentiates from the mega environment can directly affect the operations of the organization while managers often have ability to control it. It focuses on the products, services and the location of the organization. It also has five elements including customer, competitor, supplier, government and labour. Each element can have a significant impact on the organization’s strategy and put emphasis on different fields. For instance, the customer element centres more on customer expectations of product and service quality and value for money. Nowadays, many enterprises have set about optimizing how to satisfy customer needs and expectations. A fast food company– Kentucky Fried Chicken is a pretty good example. Since the company entered the Chinese market in 1987, it has made great progress in promoting competitiveness. Simultaneously, some famous foreign food businesses such as McDonald's,  Pizza  Hut have entered Chinese food market and this exerts severe press on KFC’s sale performance. Following the changing market environment, especially competitors, external market has become more complicated to cope with (MoccaTse1, 2012). Hence, business and organization management had shifted their focus merely on their product innovation for the purpose of promoting competitiveness. To rise to the challenge, the solution mentioned below may help. As for KFC, the rivalry pressure of its substitutes is relatively low. Since chicken is more popularized among most Asians than hamburgers, it enables KFC to push off an American eating style which differs from other food enterprises. This conversion implies that organizations have to make their business objectives more competitor-centred and applies the competitor element subject to one of the task environment’s component. Reference: Kitty 2009, ‘KFC location strategy in China’ MoccaTse1, External Environment Analysis, Nov 2012,

Indoor air quality in sustainable, energy efficient buildings

Indoor air quality in sustainable, energy efficient buildings Introduction ‘Indoor air quality in sustainable, energy efficient buildings’ is the article by Andrew K. Persily and Steven J. Emmerich. The article is devoted to the problem of the indoor air quality. The authors focused their attention on the energy-efficient approach of its achievement.Advertising We will write a custom essay sample on Indoor air quality in sustainable, energy efficient buildings specifically for you for only $16.05 $11/page Learn More The background of the article The energy efficiency is the urgent problem nowadays. The engineers and contractors have paid a particular attention on this problem since 1970s. At that period, the mankind faced the keen energy supply problems. The energy inefficiency is a burden for the economic development. In addition, it results in the environmental pollution. The wide discussions of the problem encouraged the construction companies searching for new materials and technologies. â€Å"Some di scussions of net-zero energy buildings also speak to the need for high performance, which generally includes a range of non-energy performance attributes, such as indoor air quality (IAQ)† (Persily Emmerich 2012, p.5). The indoor air quality system as a building technology of new generation The indoor air quality (IAQ) systems play a crucial role in the maintenance of the proper ventilation of the premises. The systems are aimed at regulating the quality of the air which is important for the people’s health. The poor IAQ systems may lead to the serious diseases including the lung cancer, carbon monoxide poisoning, and Legionnaires’ disease (Persily Emmerich 2012). There are a number of IAQ systems performance assessment tests. These tests evaluate the effectiveness of the system. However, the authors of the article mention that these tests â€Å"do not address health impacts, particularly from contaminants that are not perceived at low concentrations or for wh ich the health outcomes occur long after exposure† (Persily Emmerich 2012, p.5). The authors focus on the relationship between the IAQ and the energy efficiency of the building (Persily Emmerich 2012). They emphasize that the outdoor air ventilation is the area linking both of them (Persily Emmerich 2012). The evaluation of the energy efficiency strategies The authors evaluated certain energy efficiency strategies including the reduced outdoor air ventilation rates, increased thermal insulation, and cooling equipment efficiency increases (Persily Emmerich 2012). According to their evaluation, the first strategy leads to the increase in the concentration of the contaminants (Persily Emmerich 2012).Advertising Looking for essay on environmental studies? Let's see if we can help you! Get your first paper with 15% OFF Learn More The second strategy may lead to the biological growth as it is connected with the increase in the condensation of the buildin g envelopes (Persily Emmerich 2012). The last strategy may also result in the biological growth as it has a high probability of the increase in the indoor humidity levels (Persily Emmerich 2012). Strategies supporting the iaq and the energy efficiency The authors of the article have suggested the strategies which are able to support the IAQ and the energy efficiency of the building (Persily Emmerich 2012). In particular, they suggest the heat recovery ventilation, demand controlled ventilation, economizer operation, dedicated outdoor air system, displacement ventilation, task ventilation, natural/hybrid ventilation, envelope and air distribution systems tightness, more efficient particle filtration, gaseous air cleaning, source control and low ventilation, and QM re-commissioning (Persily Emmerich 2012). The authors enumerate the main effects of these strategies and briefly describe the way they work. The authors make a conclusion that some of the main challenges for creating th e energy efficient IAQ system are hot and humid climates (Persily Emmerich 2012). Furthermore, the poor outdoor air quality can result in the IAQ inefficiency (Persily Emmerich 2012). The authors of the article state that the design of the building is the primary determinant of the energy efficient IAQ. â€Å"High-performance buildings should provide better IAQ conditions than exist in current buildings, and there are many strategies for doing so that will not necessarily conflict with energy efficiency† (Persily Emmerich 2012, p. 19). Conclusion In order to sum up all above mentioned, it should be said that the article ‘Indoor air quality in sustainable, energy efficient buildings’ by Andrew K. Persily and Steven J. Emmerich reflects the newest tendencies in the building construction. The authors of the article have touched upon the problem of the indoor air quality. They put a particular emphasis on the relationship of the IAQ system and the energy efficienc y. A number of strategies for the realization of the energy efficiency and the maintenance of the IAQ system have been suggested by the authors.Advertising We will write a custom essay sample on Indoor air quality in sustainable, energy efficient buildings specifically for you for only $16.05 $11/page Learn More References Persily, A. K. Emmerich, S. 2012, ‘Indoor air quality in sustainable, energy efficient buildings’, HVACR Research, vol. 18. no. 1-2, pp. 4-20.