Books on Essay Writing

Books on Essay WritingAre you in the process of deciding which books on essay writing to buy? It can be a daunting task. There are some great books that can help a person to master writing skills. Here are five great books on writing skills and techniques that you should look into.'The New World of Grammar by Eugene Loeb and David L. Webster is an easy to read introduction to writing. It is an essential resource for students who are trying to learn to read. Every student should have this book to help them learn the rules of grammar.''Writing For Short, Long, and Goofy'. By Carol Eckert and Patricia Yago. This is another essential guide on essay writing. It will help a person achieve their goal to write at a high level in their writing.'Essay: The Art of the Essay.' By Deborah Orenstein. This book is packed with tips on essay writing and how to go about writing a persuasive essay.'The most important thing is to be passionate about what you are writing about. If you do not feel any kin d of enthusiasm for your topic, you will be very difficult to convince to work on your project.' -Stanislav Grof'Essays by Essay' by Jeremy Farley. This book offers many valuable tips for writing essays. It will teach a person to organize their thoughts and find a new way to present their thoughts.'This Book Loves You' by Joanna Flynn. This book teaches you the secrets to turning people around with a one sentence sales pitch. This book will teach you the ins and outs of sales letters and persuasive selling. It will teach you how to make a sale from anyone and if you are willing to try it you can succeed.These books on writing are great resources for any writer. These books cover writing styles and techniques for people who want to improve their writing skills. They will help a person to write with style and create effective writing.

Why Beyonce Had Album Of The Year - 855 Words

The Grammy’s aired this weekend and what was expected to be a Beyonce landslide turned out to be a Beyonce preview. Lemonade an album that shook 2016 to it’s core and was nominated for the coveted â€Å"Album of the Year†. Unfortunately, Queen Bey was snubbed†¦.again. Just like you, MEFeater was confused and so we comprised a list of 25 reasons why Beyonce had Album of the Year It incorporated multiple genres This was not just an RB album or a Pop album. This was an album that related to people of all backgrounds and paths of life. It included rock, country, soul, you name it. Beyonce even performed at the CMA awards with a song off this album. Inside scoop on a side of Bey we’ve never seen We’ve seen Beyonce cry, scream, and love. But all†¦show more content†¦Political music has always been seen as radical and pushed away. Lemonade put poli-music on the radio, on commercials, and at the Superbowl. It included different types of art Spoken word, storytelling, and cinematic expression all held integral parts in It had a storyline unlike most albums today Bey was the narrator and each song flowed together like a well written novel. I don’t about y’all, but I don’t remember anxiously waiting for a new chapter in 25. It was unapologetically black Unlike the Grammy’s, this album was an event where unapologetic blackness was celebrated IT HAD A VISUAL We didn’t have to wait for the video or the album. It came all together. Your fav could never release a visual and studio album at the same time. Out all of her AOTY nominations, Lemonade truly deserved it Beyonce has made memorable albums in the past, but if we’re talking albums that are Library of Congress worthy†¦..I’m betting on Lemonade 25 times. The last album by a black woman to win was â€Å"The Miseducation of LH† Lauryn Hill was the last black woman to win Album of the Year. That was in 1999. Enough said. Even Adele thought she deserved it Her opponent used her speech time to talk about why she deserved the award. Um, that’s enough evidence to show that Bey was robbed It embraced black womanhood We weren t the big booty video vixen or the RB crooner to come in and sing the hook. We were at center stage and we had baby hair and afros. ItShow MoreRelatedMovie Analysis : The Song Lemonade 1194 Words   |  5 Pagesagain when she dropped her visual album, Lemonade, exclusively on HBO. This is the sixth studio album for the superstar. Lemonade has quickly become a trending topic online and in the news. The film follows Beyoncà © as she confronts the issues of infidelity, and also pays a bold tribute to the perseverance of African American women. The film was advertised on HBO as only a special for the cable network, but halfway through the feature, Beyoncà © dropped the album by the same name- Lemonade. The oneRead MoreThe Media And The Platform1548 Words   |  7 Pagesbeing said, many celebrities do indeed use their platforms to speak on social injustices happening daily, one in particular being Beyonce Knowles. Beyonce Knowles is an artist who has been very active in the media for at least a decade now. She began her career as a vocalist in the RB group Destiny’s Child and rocketed her career from there. Many of the songs Beyoncà © [is clearly in support of] promote feminism and girl power which is no secret; one in particular, â€Å"If I were a Boy,† written in 2007Read MoreAnalysis Of Beyonce And # Blacklivesmatter, By Anna Leszkiewicz1305 Words   |  6 PagesBeyoncà ©Ã¢â‚¬â„¢s visual album Lemonade gives a more personal view of her upbringing and how it influences the person she is today. One song in particular, â€Å"Formation,† explains how she was raised and how hard she worked to earn everything she owns. As a black woman, Beyoncà © worked especially hard to overcome prejudice to become the iconic artist she is today. Beyoncà ©Ã¢â‚¬â„¢s intention behind â€Å"Formation† is to empower all black people, but especially black women. Malcolm X’s speech â€Å"Who Taught You to Hate Yourself†Read MoreThe Importance Of Innovations In Music1027 Words   |  5 Pagesartist Beyonce, and her creative director Tourso, who shes been collaborating with since 2013. Their brand new visual album Lemonade has had all 12 of the albums songs chart on Billboards Hot 100 which is nearly unheard of. The release of Lemonade was accompanied by a one-hour film aired on HBO that was as much of a media sensation as the album itself. â€Å"It goes to show that these things don’t have to be at the Tate,† says Fitzgerald, K. â€Å"You can absolutely argue the cultural impact of Beyonce hasRead More`` Pretty Hurts `` By Melina Matsoukas970 Words   |  4 PagesDefining Beauty Every year, millions of dollars are spent by women on various cosmetic surgical procedures. This type of surgery can sometimes require months of painful recovery, and a lot of pain killers. After learning this statistic, one might ask why they are spending so much money on plastic surgery to alter their bodies. Also a posing question could be, why are woman so willing to inflict pain on themselves to be â€Å"beautiful?† Although there may be other contributing factors, one of the mainRead MoreThe Popularity Of Celebrity Endorsements2265 Words   |  10 Pageslive in a celebrity-fixated world where celebrity endorsements have become common practice for advertisers, marketers and PR professionals. They provide brand recognition, create buzz and help drive sales. Since the early 20th century, radio programs had brand sponsors, and hosts grew to be associated with their sponsor’s products. In the decades that followed, we started to see movie and television stars appeari ng in endorsements for tobacco brands, athletes appearing on the front of Wheaties boxesRead MoreQueen B. The Most Popular Women Singers Of All Time1858 Words   |  8 Pagesherself. Her recent album â€Å"Lemonade† is more based on how she felt betrayed and lonely after her husband’s actions. She really knows how to be a confident business lady and not let her husband disrespect her like that. However it is mentioned in Hilton Als’s analysis, â€Å"A canny businesswoman, Beyoncà © knows how to build a character†(par. 9). Not only she is fighting for herself in the album, but she is fighting for all black women being treated terribly. Why do many people see Beyonce as a Goddess? ARead MoreWhy Are All Of The Black Kids Sitting Together?1170 Words   |  5 Pagesbeing â€Å"Why Are All of the Black Kids Sitting Together in the Cafeteria?† by Beverly Tatum. It was a quick enough read, it made sense, and was easy to retain. This book had an emotional impact on me, and I have a feeling it would impact many students like the ones before me. }}}} *take out A piece of music I would use in my class would be an album called â€Å"Lemonade† by Beyonce, but more specifically the song â€Å"Formation†. I know this has probably said many times and many ways, but this album was a statementRead MoreThe Wave Of Streaming Media2277 Words   |  10 Pagesinto the fray in 2015 with genuine lossless quality; its 1.4Mbps is more CD quality than mp3. When Jay-Z bought Tidal s parent company Aspiro in 2015, the music industry was turned on its ear. Owned by artists such as the aforementioned Jay-Z, Beyonce, Madonna and a plethora of others, Tidal offers high fidelity, lossless music quality and exclusive content for its subscribers. Being owned by the artists themselves, Tidal claims to pay the highest percentage of royalties to musical artists andRead MoreThe Music Of Music Today1936 Words   |  8 Pagesthrough music streaming companies like Spotify. Streaming companies are nice because you can listen to almost any song or album for free. It saves a lot of money because songs are usually $1.29 and albums are around $12.99. This has become an alternative for buying music for a lot of people. Just in the first half of 2016, music streams have increased by 53.7 percent compared to last year according to Billboard. Due to the increase in music streaming, the industry has changed how it tracks music sales

The Industrialization Of The World Trade Markets Essay

intro Before the 1900s Latin America began to strengthen their economy by means of industrialization. In doing this they developing railroads, roads, and port facilities which increased trade and profits. Because of these advancements, they were able to participate in the world trade markets. Some larger countries such as Brazil and Argentina grew exponentially by trading there products (coffee and wheat). After the World Wars, trade declined in world markets and Latin American governments found it necessary to practice Import Substitution Industrialization (ISI). ISI is the creation of domestic industry to provide products previously imported. ISI was Latin America’s principle method in achieving economic growth. Though the ISI was not successful in Latin America, it was victorious in Brazil- raising Brazil from a third-world country to first world status. During the early stages of Industrialization, Brazil’s earnings from traditional exports of goods were declining. According to____, shows the importance of various merchandise in the world trade markets. It’s concluded that the importance of food products and agriculture have declined. Also with the decline in world trade, like the rest of Latin America, Brazil’s policy makers agreed that ISI was necessary for economic growth. Following the WW there was an industrialization spurt which called for new policies. Some policies that were formed were import licensing system, multiple exchange rate system, and modified system.Show MoreRelatedThe Economic Development Of China1130 Words   |  5 Pagesdevaluing the rupee, encouraging private sector competition, and deregulating the economy after 40 years of central planning. By opting for market-oriented reforms in 1991, India’s GDP has grown at a rate of 6.6% annually over the past 20 years. As a rapidly emergi ng economy and a member of the BRICS, we must continue to push our strategy of export led industrialization and economic liberalization. We should recognize the success that China has had with export-led growth and want to emulate the policiesRead MoreImperialism And The United States Experience During World War I855 Words   |  4 PagesDuring World War One, the United States encountered many challenges, affecting America and Foreign Nations and their respective populations. Imperialism, economic expansion and industrialization impacted the United States’ experience during World War One. Americans were forced to recognize their strengths and weaknesses internally and externally. Imperialism is defined as a policy or practice by which a country increases its power by gaining control over other areas of the world . Prior to UnitedRead MoreExport Promotion Strategy vs. Import Substitution Strategy1745 Words   |  7 PagesAmerica countries had committed to an alternative strategy, import substitution (IS). The IS strategy yielded disappointing results: most of these countries did not succeed in either industrialization or economic growth while export-oriented industrializations (EOIs) sustained fast economic development. Data from the World Bank (1993) showed that the real GDP of EOIs (7.6%) grew faster than IS countries (3%) during 1965-1990. There is no doubt that EOIs outperformed countries that adopted IS strategyRead MoreGlobalization : A Short History1720 Words   |  7 PagesThroughout history much has evolved in the world we live in today. Nations that were once empowering and controlled many parts of the world today are seen less superior and most l ikely to keep peace and order rather than starting violence. In Jujen Osterhammel and Niels P. Petersson’s book Globalization: A Short History, they investigate what led to globalization. They discuss events in history starting from the 1800s to the cold war era and what events led to globalization. Osterhammel and PeterssonRead MoreImport Substitution1497 Words   |  6 PagesSubstitution Industrialization (ISI) Definition Government strategy that emphasizes replacement of some agricultural or industrial imports to encourage local production for local consumption, rather than producing for export markets. Import substitutes are meant to generate employment, reduce foreign exchange demand, stimulate innovation, and make the country self-reliant in critical areas such as food, defense, and advanced technology. What Does Import Substitution Industrialization (ISI) Mean?Read MoreType Of Chinese Economic Reform1278 Words   |  6 Pagesrenaissance gradually. One of the most important changes is in resource allocation. Now, resource allocation is mainly influenced by the market rather than the central planning. As the alternative mechanism, government interventions take place when the market mechanism is not enough to maintain the good performance of economy. Besides, China is opening to the outside world away from the closed and self-fettered condition. Four special economic zones, fourteen coastal cities and three open coastal economicRead MoreGuns, Germs, And Steel By Jared Diamond1394 Words   |  6 Pageswas civilized. This paper responds to the questions raised from the books â€Å"Guns, Germs, and Steel† by Jared Diamond; â€Å"The Origins of the Modern World: A Global and Ecological Narrative from the Fifteenth to the 21st Century† by Robert Marks; â€Å"A History of the World in Six Glasses,† by Tom Standage; and the â€Å"Stuffed and Starved: The Hidden Battle for the World Food System† by Raj Patel. Global civilization Diamond argued his case in a manner that demonstrated the global north as a region that enjoysRead MoreIndian Economy After Independence : India1310 Words   |  6 Pagesrich in natural resources and labor which has helped India progress after attaining independence from British rule in 1947. The purpose of this research paper is to trace the Indian economy after independence. India is the largest democracy in the world with a stable democratic government. Recently, India has elected a new prime minister, Narendra Modi who took office in the year 2014. (India Today). The new government in India is credited with reviving the economy and strengthening India’s foreignRead MoreComparing Japan and Russias Response to industrialization before 1914.1519 Words   |  7 PagesRussia and Japan were forced to make reforms and modernize by industrialization. They both had to do so rapidly because of Western interference and the Wests increasing power in trade. During the early 20t h century, Russia and Japan had managed to reform, industrialize, and make sufficient changes to build powerful nations, although they still couldnt compete with the Wests supreme military and technological strength. The industrialization process for both Russia and Japan began during the same timeRead MoreEconomic Development And Development Of Welfare1640 Words   |  7 PagesWhen discussing the origins of welfare states it is easy to make an assumption that the development of welfare states was in direct response to social needs brought by industrialization and economic development. In fact the early scholarship in social policy did not question the causational effect between economic development and development of welfare states. Understanding that economic development alone cannot sufficiently explain why some countries developed into full welfare states while others

Comparison on the Differences of Chinese Long and Western...

Introduction Chinese long (Chinese dragon) and Western dragon exist in many countries’ legendaries and literature works. They have some similarities but they still have many differences and should not be lumped together. This paper tries to find out their differences and show that they are different in many ways. Chinese long (Chinese dragon) and Western dragon originate from different legendaries and contain people’s different emotions. Their figures and capabilities are different. Chinese long (Chinese dragon) is a combination of several animals and it can fly without wings. Western dragon looks like a winged dinosaur. It can fly with its wings and spring fire from its mouth. Chinese long (Chinese dragon) combines several propitious†¦show more content†¦In 1934, Wei Juxian came up the idea that the antitype of Chinese long (Chinese dragon) was crocodile. Liu Chenghuai believed that the main body of Chinese long (Chinese dragon) was snake, lizard and horse. According to Zhu Tianshun’s opinion, Chinese long (Chinese dragon) originated from lightening. Hu Changjian believed that Chinese long (Chinese dragon) originated from rainbow. The origination of Chinese long (Chinese dragon) is still an open question, but we can see that no matter what Chinese long originates from, it plays an important role in Chinese history. The newest study believes that Chinese long (Chinese dragon) originated from thundering. It is studied that combined with the natural stone long which is discovered in Yichuan, Henan Province, and the sound of Chinese long (Chinese dragon), the scholars gain a new realization on the origination of Chinese long. Through the study of the natural stone long, scholars find that the natural stone long located near the famous capital Luoyang. In the prehistoric civilization, ancient people found that each year, if the thunder sound came from the area where the stone long located on the day of Spring Equinox, the year will be a harvest year. if the thunder sound came before the Spring Equinox, the summer will be flooded, and if the thunder sound came after the Spring Equinox, the summer will be drought. In ancient time, people lived on farming. TheShow MoreRelatedThe Origin Of The Dragon2970 Words   |  12 Pages7 October 2014 Dragons Transformed Dragon have been predominant in many cultures for centuries. Its function may differ culture to culture but its identity has become a universal symbol; we all have the dragon in common. Dragons are everywhere and appear to be the most documented creature in all of ancient history, second to that of the human being (Isaacs 19). These magnificent creatures like any other monster have an origin. Scholars, however, debate the origin of the dragon pointing to severalRead MoreComparison and Contrast Between Chinese and English Education Cultures2358 Words   |  10 PagesComparison and Contrast between Chinese and English Education Cultures [pic] ç ® ¡Ã§ â€ Ã¥ ­ ¦Ã©â„¢ ¢ è ´ ¢Ã¥Å  ¡Ã§ ® ¡Ã§ â€ 0801 æ ²Ë†Ã© ¢â€" 3080101911 Comparison and Contrast between Chinese and English Education Cultures ç ® ¡Ã§ â€ Ã¥ ­ ¦Ã©â„¢ ¢Ã¨ ´ ¢Ã¥Å  ¡Ã§ ® ¡Ã§ â€  æ ²Ë†Ã© ¢â€" 3080101911 Abstract: The difference between Chinese and British education will bring a huge impact on the will-be overseas Chinese students. By illustrating Chinese and British education culture differences in learning methods, center of class, teaching approaches, and the importance attached to teachers andRead MoreThe Forbidden City And 19th Century Merchants1848 Words   |  8 PagesHow did changing energy conditions affect the design of the homes of powerful people – comparison between the Forbidden City and 19th century merchants’ houses in Liverpool Introduction- This essay will discuss the similarities and differences between The Forbidden City and 19th century merchants’ house in Liverpool, in terms of the material used, the scale of the buildings, the structural engineering designs and the decorations, despite being in two completely different energy conditions. TheRead MoreCompare and Contrast Business Systems in Japan and China. Answer with Reference to Relevant Theories and Use Comparative Country and/or Corporate Examples.1868 Words   |  8 Pagesuse comparative country and/or corporate examples. Abstract The comparison and contrast of the business system between Japan and China Introduction In Japan much of its arts, languages, religion and culture are imported from China hence there are some similarity in both countries’ business system but over the centuries, Japan was able to convert this commonalities into differences which is uniquely theirs and these differences have a huge impact on the business system of China and Japan. OverviewRead MoreComparative Study of Pakistan Chinese Cultures13385 Words   |  54 Pages2013 Comparative study of Pakistan and Chinese Cultures Muhammad Rashid (ID:2012420078) This report has compared the two cultures namely the Chinese and Pakistani culture by considering different parameters. The material and non-material aspects of culture are expressed and comparative study of two cultures is performed. Both the cultures have strong roots with the shades of thousands of years of civilizations. The ideology, ethics and living styles are compared with some examples and details. TheRead MoreComparison of Chinese and American Film Industry Essay6288 Words   |  26 PagesComparison of Chinese and American Film industry Introduction A Film, also called a movie, is a modern art that combines pictures and voices to entertain people and express certain ethnic or political attitudes and other concerns. Movies have absorbed the characteristics of literature, photography, painting, music, dancing, writing, sculpture, architecture and many other kinds of arts. However, they are not produced through a simple combination, but rather, with a process that includes digestionRead MoreCompare the Business Culture of the Uk with That of Japan.3190 Words   |  13 Pageslens of a Western Christian culture and remain relatively unaware of the religion and history of the Japanese. This essay will examine how UK delegations can better understand and negotiate with the Japanese by learning about both the Japanese and their own national culture and history through literature, folktales and religion. Through this preparation a UK team can discover commonalties between the two cultures, which can help to strengthen the relationship, as well as identify differences that needRead MoreLenovo and Ibm23938 Words   |  96 PagesAbstract With social structure and technology rapidly changing, business globalisation has been regarded as a worldwide trend. While there have been many cases and literature on management of culture integration for merger and acquisition from a Western perspective, few have discussed cultural integration in an Asian context. This study provides a case study of cultural integration strategies Lenovo has undertaken to manage employees from both teams after the MA. It adopts a semi-structure face-to-faceRead MoreIndia and China Comparative Economic Analysis5875 Words   |  24 Pagestwo fastest- growing economies have become the most salient aspect of their bilateral relationship. Both have begun to behave like normal neighbors— allowing trade and investment and promoting people- to-people contact. But in the economic sphere Chinese and Indian econ-omies are still more competitive than complementary. More importantly, resource scarcity has now added a new dimension to the traditional Sino- Indian geopolitical strategy. The real issue, of course, isnt where China and IndiaRead MoreBook III in Wang Shifus The Story of the Western Wing3231 Words   |  13 Pagesthe Western Wing One of China’s most popular love comedies, The Story of the Western Wing (Xixiang Ji) by Wang Shifu (1250-1300) dramatizes a scholar-and-beauty romance. Zhang Sheng, a promising student, and Cui Yingying, a beautiful maiden, meet in a temple, fall in love at first sight and after a series of thwarted attempts, they end up happily marrying each other, after the student has passed the civil exam as the top one, of course. Among the five books of The Story of the Western Wing

Bw/Ip International free essay sample

Assumption: Tax rate: 38%. From 1991 to 1993, the tax rate remains to be constant, which is 38%. And we assume that the tax rate will continue to be 38%. Exhibit 1 shows the process of calculating tax rate: Growth rate:We assume the project will last for infinity, and grow in perpetuity after year 1992. And we use the average annually growth rate from 1990 to 1993 as our perpetuity growth rate, which is 2. 3%. Change in NWC:We subtract cash from NWC provided in the case and we get the adjusted change in NWC. The calculation is presented in Exhibit 2. Discount rate:Typically, the investment horizon of a common leverage buyout range from 5 to 10 years, so we use the ten years treasury yields, ending at 1987 as the risk free rate, which is 8. 79%. For the market return, we use the Samp;P 500 index in 1980s, which is 12. 79%. Thus, we can easily get the risk premium. Exhibit 3 shows the process of calculating discount rate. Tax shields:Giving the interest paid schedule, we can figure out the tax shield each year from 1988 to 1993 at the tax rate of 38%. Discount rate: with a pre-determined debt and interest paid, we should use the cost of debt to get the present value of interest tax shield, because the risk of tax shield is moving together with the risk of the loan (debt), instead of the total assets. We assume the corporate borrowing rate is the same with BBB long-term bond, which is the cost of debt, 10. 63%. Thus the present value of tax shield from 1988 to 1993 is 31. 91. We assume perpetual debt from the year 1994, and the same growth rate, which is 2. 3%. Exhibit 4 shows the processing of calculating tax shields. The FCF is presented in Exhibit 5. Sensitivity Analysis for BW/IP is presented in Exhibit 6 2? We favor the proposed acquisition of UCP. The primary sources of value in the transaction include: * Low capital or cash requirement UCP is a small firm, which would require additional borrowing by BW/IP of only 13 million. * Synergy and efficient gains. UCP’s product line complemented BW/IP’s extremely well because UCP’s most attractive feature was its installed base in the petroleum industry and together they would have the largest installed base in the petroleum segment. Improved management Takeover can improve management because interest and principal payments can force management to improve performance and operating efficiency. The proposed price is reasonable, because it is higher than the levered value of the project, which is 48. 17. Method: APV: VL=VU+PV (ITS). Assumption: Tax rate: Tax rate=38%, which is the same as the tax rate for BWIP. Growth rate: We use t he average annually growth rate from 1991 to 1993 as ourgrowth rate,which is 6%. Discount rate: We use the ten years treasury yields, ending at 1988 as the risk free rate, which is 9. 4%. Exhibit 7 shows the calculation of Vu Exhibit 8 shows the calculation of PV(ITS) Sensitivity Analysis for UCP/IP is presented in Exhibit 6 3. How do the various features of the BW/IP buyout affect the company’sdecisions about long-horizon opportunities such as the UCP acquisition? What are the advantages and disadvantages of the 1987 buyout, viewed as afinancial program? After the buyout, BW/IP became a privately owned company which was less dependent from Borg-Warner Corporation than before in decision making. For the opportunities that the managers favored, such as the UCP acquisition, the company had more chance to carry on the deal. However, for the case in which larger amount of financing is required, the company may not be competitive enough without Borg-Warner’s financial support. The buyout could generateda better and a more efficient management, by changing the corporate structure (including modifying and replacing executive and management staff, unnecessary company sectors, and excessive expenditures), BW/IP can revitalize itself and earn substantial returns. However, since the 1987 buyout is highly leveraged, the new company has a high debt-to-equity ratio, which means the company needs to achieve required return to pay the cost of debt or faced the chance of bankruptcy. Besides, the leveraged buyout is also considered to be a risky project, which may be easily affected by economics environment. The chance of success tends to be larger under steadily growing economy, while smaller in recession periods. 4. As one of BW/IP’s bankers, would you approve the company’s request for a waiver of covenants and financing of the UCP acquisition? Yes. A banker will not approve to finance a project unless he has confidence in the profitability of the project and in that he can get his money back. The projected NPV of the UPC deal is 48. 17 million dollars, which is far bigger than the offer 18. 5 million dollars. To analyze this qualitatively, the expected success of the UCP acquisition comes from several aspects. Undeniably, the economic and industrial forecast is against financing a risky project . However, the deal will generate positive synergies since UCP’s product line complemented BW/IP’s extremely well. BW/IP will raise its competence in both original equipment and aftermarket sector domestically as well as internationally after acquiring UPC. Besides, as mentioned in the case, the good credibility of Mr. Valli and his team and that Camp;D’s principals were experienced and respected in the financial community will affect bankers’ attitude. Exhibit 1: Tax rate | 1987| 1988| 1989| 1990| 1991| 1992| 1993| EBT| -9. 56| -0. 001| 8. 91| 12. 95| 17. 31| 19. 49| 23. 57| Income tax| 2. 8| 0| 0| 3. 61| 6. 58| 7. 41| 8. 96| Tax rate| -29%| 0%| 0%| 28%| 38%| 38%| 38%| Exhibit 2: Change in NWC AR| 58. 68| 53. 1| 51. 69| 55. 08| 59. 11| 63. 6| 67. 91| 72. 54| INV| 58. 5| 58. 39| 60. 72| 64. 66| 69. 57| 75. 46| 80. 29| 85. 53| Other current asset| 3. 91| 3. 49| 4. 42| 4. 7| 4. 99| 5. 31| 5. 64| 5. 99| AP| 15. 78| 18. 12| 19. 73| 20. 94| 22. 32| 23. 78| 25. 19| 26. 69| Other current liabilities| 14. 92| 17. 29| 15. 19| 16. 12| 17. 1| 18. 23| 19. 36| 20. 56| NWC| 90. 39| 79. 57| 81. 91 | 87. 38| 94. 25| 102. 32| 109. 29| 116. 81| Change in NWC| | -10. 82| 2. 34| 5. 47| 6. 87| 8. 07| 6. 97| 7. 52| Exhibit 3: Cost of capital Cost of capital| 17. 5%| CAPM| Rf| 8. 79%| Exhibit 7 | ?a| 1| Hint| Market return| 12. 79%| Samp;P 500 index in 1980s| Risk premium| 4. 00%| | Exhibit 4: Interest tax shield | 1988| 1989| 1990| 1991| 1992| 1993| Total interest paid| 0. 63| 1. 75| 1. 66| 1. 51| 1. 4| 1. 22| ITS: tax [emailprotected]%| 0. 24| 0. 67| 0. 63| 0. 57| 0. 53| 0. 46| Cost of debt 10. 63%| | PV (ITS) 1988-1993| 31. 91| PV (Terminal value)| 37. 1| Total PV (ITS)| 69. 00| Exhibit 5: Free cash flow | 1986| 1987| 1988| 1989| 1990| 1991| 1992| 1993| FCF| | 39. 37| 26. 8| 24. 62| 24. 11| 24. 57| 24. 72| 25. 8| Growth rate| 2. 3%| Terminal Value| 270| VU| 232. 89| PV (ITS)| 69| VL| 301. 89| Exhibit 6: Sensitivity analysis for BW/IP * Buyout| | * NPV| * % change of NPV| * Growth rate| * 0. 00%| * 32. | * -47. 91%| | * 2. 30%| * 62. 39| * 0. 00%| | * 4. 60%| * 109. 5| * 75. 51%| * Discount rate| * 10. 79%| * 81. 5| * 32. 52%| | * 12. 79%| * 61. 5| * 0. 00%| | * 14. 79%| * 44. 5| * -27. 64%| * Cost of debt| * 9. 63%| * 64. 5| * 4. 88%| | * 10. 63%| * 61. 5| * 0. 00%| | * 11. 63%| * 59. 5| * -3. 25%| Exhibit 7:The calculation of Vu | 1988| 1989| 1990| 1991| 199 2| 1993| EBIT| -1. 15| 2. 59| 3. 29| 3. 96| 4. 34| 4. 74| Income tax @| -0. 44| 0. 98| 1. 25| 1. 50| 1. 65| 1. 80| NI| -0. 71| 1. 61| 2. 04| 2. 46| 2. 69| 2. 94| FCF| | | | | | | Depreciation| 0. 48| 0. 6| 0. 99| 0. 90| 0. 84| 0. 84| Change in NWC| | | | | | | Change in AR| 1. 13| -0. 15| -0. 22| -0. 20| -0. 13| -0. 14| Change in inventory| -0. 36| 0. 68| -0. 21| -0. 18| -0. 12| -0. 13| Change in other asset| 1. 73| 0. 00| 0. 00| 0. 00| 0. 00| 0. 00| Change in current liability| 0. 27| 0. 18| -0. 01| -0. 35| -0. 04| -0. 04| Change in NWC| 2. 23| 0. 35| -0. 42| -0. 03| -0. 21| -0. 23| Capital expenditure| 0. 18| 1. 20| 0. 40| 0. 40| 0. 40| 0. 40| FCF| -2. 64| 1. 02| 3. 05| 2. 99| 3. 34| 3. 61| Growth rate| | | | -2%| 12%| 8%| Average growth rate| 6%| | | | | | Terminal value| | | | | 53. 15| | FCF| -2. 64| 1. 02| 3. 05| 2. 99| 56. 9| | VU| 40. 28| | | | | | Exhibit 8:The calculation of PV(ITS) | 1988| 1989| 1990| 1991| 1992| 1993| Interest | 0. 63| 1. 75| 1. 66| 1. 51| 1. 40| 1. 22| ITS: tax [emailprotected]%| 0. 24| 0. 67| 0. 63| 0. 57| 0. 53| 0. 46| Terminal value| 2. 18| | | | 10. 01| | PV (ITS)| 7. 97| | | | | | Exhibit 9: Sensitivity analysis for UCP/IP UCP| | NPV| % Change of NPV| Growth rate:| 0. 00%| 14. 35| -51. 76%| | 6. 00%| 29. 75| 0. 00%| | 12. 00%| 278. 5| 836. 13%| Discount rate:| 10. 79%| 46. 5| 57. 63%| | 12. 79%| 29. 5| 0. 00%| | 14. 79%| 20. 21| -31. 49%| cost of debt:| 9. 63%| 30. 5| 3. 39%| | 10. 63%| 29. 5| 0. 00%| | 11. 63%| 27. 5| -6. 78%|

Beer in US

Introduction The following essay analyses the beer industry in the United States. It looks into the beer industry and developing growth mechanisms in the light of globalization, integrated technology and strict industry regulations. The analysis examines the political environmental, social, technological, economical and legal factors that affect the beer industry in the United States.Advertising We will write a custom essay sample on Beer in US specifically for you for only $16.05 $11/page Learn More The political/legal factors Even after beer manufacturing was made legal by the federal government, the state government perpetuates prohibition by limiting the drinking hours and distribution systems of beers to make the Americans accept beer as good drink. The political environment includes taxation procedures that are in the country. Currently, the tax is 40% of the retail prices, which is a higher rate of taxation as compared with taxation in other count ries, such as Germany (Lundstrà ¶m 2005). The imported beer sales volume is a part of the locally produced beer in the United States (Appendix 1). Regulation of the beer industry has also affected its profit margins due to regulation on advertising, as it is perceived to be deceptive to public on the advantages of drinking beer (Strokes 2010). The economic factors The United States of America is the world’s largest economy. It boasts of having the world highest gross domestic product as well as the highest per capita income of $48,000. The country has a population of approximately 300,000 million people. It is the largest exporter of electronics and technological goods, such as computers as well as organic waste (The World Bank 2010). The first economic aspect that has affected the beer industry is the global recession, which has reduced the volume of beer consumption in the country. The other economic factor relates to the increased competition across the globe due to the m erger and acquisition of the beer companies resulting in concentration of beer industries (Appendix 3). For instance, one of the major manufacturers of beer, Anheuser-Busch InBev, has acquired more than forty establishments of beer distribution in the United States (Espey 1989).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Social cultural factors Americans have a high sense of style and self-importance and everything that helps them perpetuate this image has a wide acceptance (Strokes 2010). This explains how Heinemann has succeeded to sell its classic drinks in the United States. In a survey conducted by the institute of beer manufacturers, it is showed that sixty percent of those who drink beer are between eighteen and forty five years of age (Appendix 4). It also indicates that beer drinking exists in all social economic classes although it is low among people with $50,000 per capital income (Espey 1989). To understand the culture better, the existing literature, especially fictional works, indicate instances where the characters are in a binge and the types of beer that they drink (Swedberg 2009). The social cultural environment in the United States of America shows prevalence of drinking beer in the country. It also provides information on how beer marketers can capitalise on this market (Andriani et al. 2004). Technological factors Technology has affected the beer industry in the United States in a number of ways. The first way involves the methods of beer production. With increased technology, especially, with the development of enterprise resources planning systems, beer industries have increased (Appendix 9). The companies have reduced their costs of operations and managed to reduce the selling price. The use of Enterprise Resource Planning has enabled the companies to reduce administrative costs, such as payroll processing to pay the workers, supplier and inventory management (Schultz 2000). Technology is also useful in fermenting, processing and eventual production of beer, and this has significantly reduced costs of production. Technology has also been useful in marketing the beer products all over the globe through the traditional media, such as television as well as social networks. The ability to integrate technology in marketing and production activities gives the companies advantage over their competitors (Pratesi 1994). The environmental and ecological factors Beer is made from fermented food materials such as rice, corn and barley. With the increased global climatic changes, the demand for food has increased and led to growth in the prices of these commodities. This has made the production costs of beer to be high (Appendix 5).Advertising We will write a custom essay sample on Beer in US specifically for you for only $16.05 $11/page Learn More The environment advocacy groups advocate for compan ies to be energy and environment conscious. Most of the companies have also engaged or used their resources in environment conservation efforts (Beverage World 2000). Another environmental factor relates to the increase in lifestyle related diseases in the United States of America where many people suffer from obesity, diabetes, blood pressure and kidney ailments. These have made people more conscious and reserved from enjoying alcoholic beverages due to their contribution to these diseases. This has affected the companies negatively as it has reduced the overall number of beer consumers in the country (Lundstrà ¶m 2005). The buyer power The buyer power of the beer consumers in the United States of America is moderate. This is because, on the one hand, the major beer buyers are hypermarkets and supermarket retailers. This buyer negotiates the beer prices with the manufacturer. The transfer costs of this buyer are not very high, which gives them undue advantage (Schultz, 2000). Howe ver, the beer manufacturers have differentiated their products in terms of the ingredients of the beer products that offer the buyer many options of beer brands. This minimizes the buyer power, as the buyers who are supermarkets have to stock different brands of beer for their consumers. The other factor of buyer power is that of an expected market decline which has ensured a reduction in the number of consumers as shown in Appendix 14. Supplier power The suppliers play a significant role in the beer industry, and their influence cannot be underscored. The major suppliers who wield power in the beer industry are those who supply the beer inputs such as barley, rice and corn. The beer industry moderates this power by butting the beer supplies rather from independent farmers than from cooperatives. This makes it easier for them to dictate the quality and price of the product.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More To reduce the power of suppliers, some of the beer companies decided to have their own ad hoc farms, which supply their own inputs (Appendix 13). This weakens the suppliers. However, the suppliers do have an added advantage in that they can choose not to sell their supplies to the beer manufacturer and instead use the barley, corn for animal supplies. This utility advantage gives the supplier a moderate influence on the beer industry where the farmers can improve their process of production if needed. The suppliers can also sell their supplies to the wines and spirit manufacturers (Appendix 10) New entrants Other than the government stringent regulations on new entrants in the beer industry, the capital required to enter into the beer market poses a major challenge to the new entrants. However, new entrants in the beer industry come in as microbreweries where they fill a certain niche in the market. The main beer manufacturers focus on the major brands where they focus on major bran ds which have higher prices (Appendix, 13). The new entrants can concentrate on providing low processes beers. The new entrants are, however, at a disadvantage as many of the beer manufacturers focus on the economies of scale that produce large volumes of beer at lower costs, which has increased their profit margins (Appendix 11). The new entrants in the beer market will also have to face the competition in the production of the beer, as they have to take more time before they establish a good network with independent suppliers, and retailers in the market. The new entrants’ influence on beer market in the United States of America is minimal and has little effect on the major players in the industry (Beverage World 2000). Threat of substitutes The substitutes in the beer market play also a significant role as one of Porter’s market forces. The substitutes that pose threat to beer are mainly spirits and wines and non-alcoholic or low alcoholic drinks. With concerns on t he impact of alcohol on consumer’s health, a percentage of consumers now prefer non-alcoholic drinks. The retailers have also noticed this trend and stock non-alcoholic or low alcoholic beverages together with the beer (Beverage World 2000). However, the beer manufacturers retain some advantages in that most of the substitute products are new entrants that cannot match the capital intensity of the beer industry. Some of the non alcoholic products take longer shelf space and time, which makes beer a preferred product to stock by the sellers in comparison with other beverages. For instance, it is expensive to stock beer products as compared to wines and spirits (Appendix 12). Degree of rivalry The rivalry in the beer industry in the United States is relatively higher as compared to other market forces. The beer industry in the United States has high concentration although three major industry players, namely, the Anheuser-Busch inBev, SAB Miller and Molson Coors, occupy a large market signet. The extent of this rivalry is seen through the number of beer brands that each manufacturer has in the market, which gives the consumers a wide variety of beer brands to choose. Rivalry is also evident through the advertising that each company spends to promote its brands, with each of the there major players spending over $1 billion in advertising annually (Appendix 15). Conclusion In the next five years, the beer industry is expected to be in a boom mainly due to the expected economic recovery, which will increase consumers’ expenditure. The sales volume is expected to soar by over ten percent by the year 2017. The concentration of the beer brands in the industry will continue to exist in five years, and no major new entrant is expected. The other notable phenomenon is that the taxation for beer products is expected to remain high in the forthcoming years. The prices will also increase due to the increase of supplier power and industry rivalry. The overall s ales volume of beer in the country grew by 4% in the year 2012 (Appendix 7). Similar growth is expected in the year 2013, and even more increase is expected in future (Barnes Reports 2012). References Andriani, L, Gold, F, Rotella, M, Scharf, M. 2004, ‘Travels with barley: a journey through beer culture in America’, Emily Publishers Weekly, vol. 8, pp.42. Barnes Reports 2012, U.S. Beer and ale wholesale industry. Web. Beverage World 2000, ‘Brew u? Labatt USA opens beer academy’, Beverage World News, 15 May, pp.16. Espey, J 1989, ‘The big four: an examination of the international drinks industry’, International Journal of Wine Marketing, vol. 1, no. 2, pp.47-64. Lundstrà ¶m, A 2005, Beer production policy: theory and practice, Springer, New York. Pratesi, C 1994, ’Miller beer,’ Management Decision, vol. 32, pp.25-28. Schultz, M 2000, The expressive organisation: linking identity, reputation and the corporate brand, Oxford Univers ity Press, New York. Strokes, R 2010, E-marketing: the essential guide to online marketing, McGraw Hill, New York. Swedberg R 2009, Beer: the social science view, Oxford University Press, Oxford. The World Bank 2010, Doing business 2011: making a difference in beer industry, International Finance Corporation, Washington, D.C. Appendices Appendix 1 Appendix 2 Four major beer companies in the globe and their market share Appendix 3 Import versus domestic consumption Appendix 3 Changes in the beer industry.  Employment 2009 2010 2012 2013 Establishments 2, 175 2, 187 2, 099 1, 933 Sales 40, 393 44, 164 45, 486 49,877 Employment 111,627 107,104 104,786 101,772 Percentage Change Year to Year 09 – 10 10 – 11 11 – 12 12 – 13 Establishments 0.5% -4.0% -2.2% -2.9% Sales 9.3% 3.0% 5.5% 4.0% Employment 0.6% -4.1% -2.2% -2.9% Appendix 4 Estimated number of beer establishments Establishments beer 480 Beer and ale 80 Beer and o ther fermented 975 Porter 564 Appendix 5 Estimated number of employees Establishments Employees Beer 23, 947 Beer and ale 13, 335 Beer and other fermented 81, 205 Porter 4, 167 Appendix 6 Estimated number of industry sales Establishments Total sales $ (million) beer 5, 940 Beer and ale 473.20 Beer and other fermented 38,986.4 Porter 86. 7 Appendix 7 Five-year trend of sales Year    Employee size of establishment Total sales $ millions    1 – 4 5 – 9 10-14 15-19 20-24 25-29 30-34 35-39 40-44 45-49 2009   Ã‚  Ã‚   546 249 992 4,960 7,590 16,920 7,020 720 500 897 40,393    2010 597 272 1,084 5,422 8,297 18,497 7,674 787 547 987 44,164    2011 615 280 1,117 5,585 8,546 19,051 7,904 811 563 1,014 45,486 2012 648 296 1,178 1,178 5,890 9,014 20,093 8,337 855,594 1,073 47,977    2013 674 307 1,224 6,123 9,370 20,887 8,666 9, 017 889 617 1,119 49,877 Appendix 8 Establishments using electronic resource planning sof tware Appendix 9 Contribution to the economy in comparison with other industries in USA Appendix 10 Rise in prices of raw materials Appendix 11 Year Millionlitres Percentage growth 2010 24,685.7 (1.1%) 2011 24,459.1 (0.9%) 2012 24,301.8 (0.6%) 2013 24,198.2 (0.4%) 2014 24,122.7 (0.3%) 2015 23,981.8 (0.6%) Appendix 12 United States beer market category segmentation: % share, by value, 2006–2010 Category   2006    2008   2009   2010   2006-10 CAGR(%)   Standard lager   36.2%   35.9%   35.7%   35.6%   35.5%   (0.1%)   Premium lager   34.9%   34.6%   34.2%   34.1%   34.2%   (0.   Specialty beer   25.4%   26.0%   26.5%   26.6%   26.6%   1.0%   Ales, stouts bitters   2.8%   2.8%   2.8%   2.9%   2.9%   0.9%   Low/no alcohol   0.7%   0.7%   0.7%   0.7%   0.8%   0.6%   Total   100%   100%   100%   100%   100%   2% Appendix 13 Market share of the t hree major companies Appendix 14 Beer products distribution channels in percentage Appendix 15 Appendix 16 The United States beer market segmentation This essay on Beer in US was written and submitted by user Lexi House to help you with your own studies. 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