Corporate Finance Nautilus Research Paper Example | Topics and Well Written Essays - 2500 words

Corporate Finance Nautilus - Research Paper Example The appropriate discount rate is 6.04%, which is the weighted average cost of capital. The present value of the firm with this discount factor and the predicted cash flows is $12,885,000. Introduction Nautilus Inc. is a Consumer Fitness Products Company founded in 1986 and headquartered in Vancouver, Washington. The company was incorporated in 1993 in the state of Washington. The company targets individuals and enthusiasts who wish to enjoy the benefits of regular exercise and thereby improve their health. The company sells its products through two channels – direct and retail. The main objective of corporate finance is to maximize the value of shareholders by making proper investment and financing decisions. This paper examines the extent to which Nautilus has been successful in meeting this objective, and whether the stocks of the company represent a safe and worthwhile investment. Observations In order to evaluate the performance and financial status of the company, some of the important financial ratios, trends and market information were collected and analyzed. Some of the important financial figures for a period of five years between 2007 and 2011 are shown in Appendix-1. Relevant ratios have been calculated and are shown in Appendix-2. Sales The growth in sales for the year ended December 31, 2011 was 7.1% over the figures of 2010. However, for the three preceding years the growth has been negative. The trend has been good, and in each year the negative growth has been reduced, and the growth rate has become positive in 2011. The company operates in two segments, namely direct sales and retail sales. The segment wise sales figures for the years 2010 and 2011 are shown in Table-1. It can be seen that direct sales constituted almost 60% of the total sales, while retail sales made up the remaining 40%. A small portion of the total income has come from royalty. A look at the distribution of the sales shows that cardio products accounted for the major portion of the sales accounting for 42% of the direct sales in 2011 and 32% in 2010. Overall, cardio products accounted for 66.35% in 2011. Cardio products have also shown a healthy growth in direct sales but a small decline in retail sales. Strength products accounted for 31.02% in 2011. Percentage of Total Year Ended December 31, 2011 2010 Change % Change 2011 2010 Direct net sales: Cardio products (1) $75,982 $54,409 $21,573 39.60% 42.12% 32.30% Strength products (2) 31,079 42,259 -11,180 -26.50% 17.23% 25.09% Total Direct net sales 107,061 96,668 10,393 10.80% 59.34% 57.39% Retail net sales: Cardio products (1) 43,718 43,628 90 0.20% 24.23% 25.90% Strength products (2) 24,873 24,161 712 2.90% 13.79% 14.34% Total Retail net sales 68,591 67,789 802 1.20% 38.02% 40.24% Royalty income 4,760 3,993 767 19.20% 2.64% 2.37% Total net sales $180,412 $168,450 $11,962 7.10% 100.00% 100.00% Table-1 Distribution and Growth of Sales1 Equity Growth and Profitability Equity investors are concern ed primarily with the return on their investment and the growth of their wealth. Various profitability ratios and equity growth are showninTable-2 Profitability 2011 2010 2009 2008 2007 Return on

Rule of Law Essay Example for Free

Rule of Law Essay

Effect of Culture on Differences in Conceptions of Education

Effect of Culture on Differences in Conceptions of Education I chose the following articles which examined the effects of culture on the differences in conceptions of education. Human thought and behavior are heavily influenced by the practices and assumptions of a certain culture and education cannot escape this influence (Brislin, Bochner, Lonner, 1975; Cole, 1996). As the course (AH103) sought to examine educational outcomes in cross cultural settings, I personally believe that a deeper and more critical understanding of how education is perceived, valued and conceptualized across cultures is important. The only opportunity we had to discuss such a topic in class was the short article, â€Å"Mind or Virtue† by Jin Li (2005) and I felt that it was quite limited. In addition, I believe that understanding the ideas of influential thinkers from different cultures such as Confucius, Socrates and Dewey can shed light on how different cultures have perceived education historically and how they continue to be influenced by them. Finally, these articles demonstrate that we can borrow best practices from different cultures to better prepare our students for the globalized world and I feel that it would be helpful for us being future teachers to understand that. Article 1: Cultural Perspectives on Teaching and Learning: A collaborative self-study of two professors first year teaching experiences. (Hu Smith, 2011) The first article (Hu and Smith, 2011) documents the reflective experiences of Hu and Smith, assistant professors of Chinese and American nationality respectively. Throughout their first year at the same university, they utilized the self-study approach to explore their views of teaching and learning and how their different cultural backgrounds could have influenced their perspectives. The approach which included conversations and writing and sharing reflections about their teaching practices helped them clarify their education philosophies. Hu and Smith (2011) shared that their educational philosophies were mainly influenced by Chinese Confucianism and Deweyan pragmatism respectively. The article went on to provide more information about both philosophies but this will not be discussed in this paper owing to the length constraint. Upon reflection, they realized that their educational philosophies heavily influenced their teaching practices. For example, Hu believed that it was more important to be a strict teacher: â€Å"I have been influenced since I was young in China that a strict teacher prepares better students. I thought that I should be a strict teacher, and be responsible for my students; however, it seems that my students really did not appreciate that. (Hu, 10 February 2009)† On the other hand, Smith believed that being an understanding teacher was more important: â€Å"Teaching is making connections with students, inspiring them, showing them many strategies to use in teaching, allowing them time to practice the strategies, make mistakes, revise, and plan again. My duty as an instructor is to do all in my power to assist in the students’ learning. Yet I found that some of my students lacked the desired dispositions to become excellent teachers. (Smith, 23 June 2009)†. There were also other differences in their teaching beliefs (e.g. Smith believed that students should learn to be assertive while Hu believed in the importance of modesty). These differences were mutually exclusive and reflected the different conceptualizations of education in the two countries. However, Hu and Smith (2011) believed that the collaborative self-study experience helped them to understand the teaching values of their own and another culture more profoundly. After scrutinizing the philosophies of education in both eastern and western cultures and comparing and contrasting their own views of teaching and learning, they managed to gain insights that went beyond recognizing the differences between the two. In fact, they recognized the strengths of each philosophy and sought to integrate both philosophies to provide more effective instruction (Hu Smith, 2011). For example, Smith helped Hu to obtain a deeper understanding of American classroom culture. As the use of role models in education is prevalent in Chinese culture (Reed, 1995), Hu praised students who had performed well in class with the intention to encourage them and hoped that other students would be encouraged to emulate them. To Hu’s surprise, some students felt that their efforts were not affirmed in the process of being compared to others. Smith helped Hu understand that US students value individualism and working at their own academic level and pace. Consequently, teachers believe in differentiated instruction and praise. In addition, Hu helped Smith to embrace the eastern views of learning: that students should be diligent, respectful, and virtuous. Smith made a conscious effort to share these values with her students and help them appreciate and foster those values. For example, she modeled a strong work ethic and enforced strict grading policies and deadlines. She also requested students to assess themselves on punctuality, participation, completion of assignments and staying focused at the end of each class. Many of her students provided feedback that they were inspired by Smith sharing about and fostering Eastern views of education and felt that it has given them new perspectives towards education. Therefore, Hu and Smith (2011) believed that integrating their cultural views of teaching and learning helped them to achieve the best of both worlds. However, they believed that it is only possible if the teacher is interested to achieve such a balance. However, despite having great interest in achieving the balance, Hu and Smith (2011) realized that their own views of teaching and learning were greatly influenced by their cultural backgrounds and were not easily altered. As such, they worked hard to integrate both cultural beliefs of teaching and learning within their teaching practices. Lastly, Hu and Smith (2011) argued that understanding different educational philosophies can help teachers better serve their students in the increasingly globalized world. I chose this article because I appreciated the authors deeply reflecting about their own educational philosophies and seeking to uncover how their cultural backgrounds have affected them. In addition, I loved the simple message that there are strengths in both the Deweyan and Confucian approaches and that integrating them in our teaching practices can better serve all our students. Article 2: Rethinking Teacher Education: Synchronizing Eastern and Western Views of Teaching and Learning to Promote 21st Century Skills and Global Perspectives. (Smith Hu, 2013) The second article was written by the same authors of the first article. After four years of experience with the integrated philosophy of eastern and western perspectives and receiving positive feedback, Smith and Hu (2013) decided to follow up on their first self-study (Hu Smith, 2011) by investigating how their integrated philosophy have influenced teaching and learning of 21st century skills in their college students (Smith Hu, 2013). The authors firmly believed that 21st century skills such as critical thinking, creativity and problem solving must be embedded into the curriculum because research had shown that students require these skills to succeed in work and life (Association of American Colleges Universities, 2007, Partnership for 21st Century Skills, 2007). For the study, Smith and Hu (2013) analyzed different sources from the past four years: 1) monthly self-study meeting notes, (2) self-reflective journals, (3) student and departmental peer evaluations of teaching, and (4) faculty and student feedback on the authors’ invited presentations. Smith and Hu (2013) found that their integrated philosophy was very effective in developing 21st century skills. For example, in the area of career and life skills, the western view helps to develop self-confidence, individuality and democratic education while the eastern view help foster the virtues of hard work, responsibility, commitment, and persistence in students. The integrated philosophy thus developed both sets of skills as both authors upheld rigorous teaching standards and high expectations. Moreover, the integrated philosophy worked well in terms of learning and innovation skills. Smith’s western perspective influenced by Dewey promote creativity, critical thinking, communication, and collaboration through inquiry teaching and active learning. While personalized instruction is valued by the eastern perspective, the integrated philosophy valued collaboration with peers as an important part of teaching and learning. Over the years in their classes, presentations and conferences, Smith and Hu (2013) learned that educators from a diverse range of cultures were interested in cultivating global teaching perspectives. In addition, they all value 21st century skills and believe them to be important student outcomes. Having witnessed firsthand the importance and necessity of incorporating best practices from other cultures, the authors believe that educators across all disciplines should develop a global perspective of teaching and learning and provided some recommendations. Firstly, educators must examine themselves to unearth their personal cultural philosophy of teaching and learning (possibly using self-study like the authors). In addition, professional development sessions with other colleagues can be a good way to develop cultural understanding. Next, educators should consider collaborating to integrate cultural perspectives to promote 21st century skills. Finally, teaching and learning must alwa ys respect and take into account the diverse cultures of all students and families. I chose this article because it was a rich qualitative study which clearly articulated the benefits of utilizing an integrated philosophy in fostering 21st century skills. I think it would really encourage future and current educators to rethink their own educational philosophies and utilized the integrated one proposed by the authors. Article 3: Learning Considered Within a Cultural Context: Confucian and Socratic Approaches (Tweed Lehman, 2002) The last article (Tweed Lehman, 2002) used a Confucian–Socratic framework to analyze how academic learning is influenced by culture. At the start of the article, the authors clearly examined how different education processes are valued differently by Socrates and Confucius from the Western and Eastern cultures respectively. While Socrates encouraged students to question widely accepted knowledge privately and publicly and to create and articulate their own hypotheses, Confucius valued respectful, effortful, and pragmatic acquisition of essential knowledge so as to result in behavioral reform. While recognizing that examples of both Confucian and Socratic approaches can be found in both cultural contexts, Tweed and Lehman (2002) helped readers understand the impact of each approach in a different culture. Firstly, in some Western educational contexts, the Confucian approach may be advantageous- for example, in the case when students are expected to gain and utilize foundational knowledge to familiar and novel situations. However, the Confucian approach may be a disadvantage in other contexts- for example, students heavily influenced by the Confucian approach may speak up less in class and be perceived by their teachers to be less capable. In addition, it is also important to note the impact of the Socratic approach in Eastern educational contexts. The Socratic approach can potentially result in the disruption of the learning environment due to the lack of sensitivity to the social consequences of public criticism. In addition, Yang (1986) argued that the Socratic Method co uld lead to disorientation in Chinese classrooms because students may not be well prepared to engage in arguments, leading to poor student outcomes. However, there are also instances when a Socratic orientation has merits in Eastern educational contexts, such as when instructors yearn to be questioned (there are times when even Confucius wished that his students doubted his teachings). After examining the impact of each approach in a different culture, Tweed and Lehman (2002) argued that students who are academically bicultural and can adapt their learning approach according to cues in the academic environment may be more successful. Therefore, Tweed and Lehman (2002) agreed with the authors of the previous two articles (Smith Hu, 2011) that educators should encourage both inquiry (Socratic) and thoughtful acquisition (Confucian). This will help students gain knowledge and thinking skills that become useful in many domains beyond the current academic context. Although Tweed and Lehman (2002) did not refer to the above skills explicitly as 21st century skills, it is safe to assume that they would agree with Smith Hu (2013) about their importance too. Furthermore, Tweed and Lehman (2002) argued that students and educators alike may not entirely acknowledge the influence of culture on students’ academic role and behaviors. Wollenburg (1995) had identified the poor treatment of students of Asian descent in Western educational institutions and argued that it is partly due to a lack of understanding of different conceptions of learning. Therefore, Tweed and Lehman (2002) posited that an increased understanding of these conceptions can potentially inform changes at the institutional level that can improve education for all. Before concluding, Tweed and Lehman (2002) suggested several additional avenues for future research. Firstly, they believed that we should explore the nature and feasibility of academic biculturalism. For example, it would be beneficial if we can answer the following question: what distinguishes students who possesses both Confucian Socratic approaches to learning? Secondly, they believed that future research could examine the utility of the Socratic-Confucian framework as an educational tool in both unicultural and cross-cultural environments. Tweed and Lehman (2002) found out through informal discussions with their students that learning about the framework has helped them understand their own approaches to learning and become more flexible learners. I chose this article because it provided more evidence on the benefits of utilizing the integrated approach. In addition, it helped readers understand the ideas of another influential thinker in education, Socrates. Conclusion To conclude, I hope that these three articles can help students in the course develop a more nuanced appreciation of the influence of culture on the different educational philosophies, namely Confucian, Deweyan and Socratic. Rather than simply recognizing that certain educational processes are valued differently across cultures, I hope that students can go on and appreciate the strengths of each of the three educational philosophies and seek to utilize the integrated approach to better serve their students.

Mildred Pierce and His Girl Friday:Portrait of Working Women in the Pre

Mildred Pierce and His Girl Friday: Portrait of Working Women in the Pre- and Post-World War Period His Girl Friday and Mildred Pierce are two films from the 1940's that deal with the position of women within the workforce in the time prior to America's involvement in the war, and after the tide turned in the Allies' favor respectively. This has a great deal to do with the ways in which these women--Hildy and Mildred--are portrayed. The two films are of drastically different genres and plots, and this in addition to the social milieu in the two drastically different times that they were made shows the changes in attitudes towards women in the workforce over the course of the war. His Girl Friday is a screwball romantic comedy that creates a fantasy world and a fantasy woman who navigates this world with great ease. She finds love at every turn, and succeeds in earning her heart's desire, which is both a career and a man who loves her, who, with every underhanded trick, proves the power of love. Mildred Pierce on the other hand, was made in a combination of the film noir and melodra matic styles, showing a woman's struggles for both success and love, and within the diagetic space of the film, she is constantly frustrated. Mildred, at the beginning of the film's timeline, has the life that Hildy Johnson, throughout His Girl Friday, claims that she wants--a nice suburban existence with a nice family and a nice house with a metaphorical white picket fence. But a darker picture quickly reveals itself, and this life is not as perfect as it seems. To support herself and her family, Mildred begins to work for a living, soon realizing that with her ambition and intelligence, she can prosper. She wants to give her daughters the life ... ...ountry that shouts freedom from oppression from the rooftops must be insidious when it comes to restricting those freedoms. Mildred Pierce is a fable that gives a picture of what women's lives would be like if they did not let men do their wage earning, if they did not embrace their traditional role, if they did not learn their lesson and stay at home. Mildred had no choice but to search out employment, relying on only herself to support her family, like many women in the war-time period. But she did not keep to her place. She did more than just earn a living, she prospered, and to let that image remain with American women could have been disastrous to the American economy. She could not be allowed to succeed, because she was trying to play too many roles, to achieve in every aspect of her life, and that, according to the American way, from a woman, is not allowed.

Learning Style Inventory

The two personality inventories that my cousin and I took part in measure the five factors that most psychologists use in studying the personality of the individual. However, each test was administered by a different group and found on a different website. Both tests provide a set of questions that measure what are considered to be the five basic dimensions of one’s personality: extraversion, emotional stability, agreeableness, conscientiousness, and openness to experience. Collectively, these dimensions are called the Big-5 dimensions. The first test is found on the website http://test.personality-project.org/. According to the website, the personality survey had two main objectives. The first is, â€Å"to find out more about these five dimensions of personality.† The second objective is, â€Å"To take part in and further the use of the internet as a collaborative and data collection tool.† Furthermore, the questions in the test were taken from International Personality Item Pool. The descriptions of each of the basic dimension were derived from the work of John Johnson. The participant was asked to rate the phrases that describe people’s behavior depending on how accurate they describe him. In addition to measuring the big-5 dimensions, the test also included items about one’s musical preferences and cognitive ability. There were a total of 60 questions about the big-5 dimensions and an additional 26 about musical preference and cognitive ability. Upon comparing my results of the test to that of my cousin, I found out that of the five dimensions measured, we differed significantly in only one dimension, extraversion. My cousin is considered to be more of an extravert than I am. In fact, he scored very high in the said dimension. On the other hand, out of 100, I only rated 34. He is considered to be highly sociable, energetic, and outgoing. My score, on the other hand, is seen as average. According to the description given, I am neither a loner nor a social butterfly. In other words, there are times I prefer to be around other people enjoying their company but there are also times that I prefer to be alone. For the dimension of agreeableness, we both were rated high, meaning, we both possess a strong interest in other people’s needs. As both our reports said, â€Å"You are pleasant, sympathetic, and cooperative.† For conscientiousness, both my cousin and I scored high. This high score indicates that we set our goals and aim to achieve these goals. Likewise, we are both considered to be hard-working and reliable. With regards to the dimension of emotional stability, both of us scored high which indicates that we are calm and not easily rattled or stressed. Furthermore, it says that we remain unaffected by intense situations. For the last dimension, openness, both my cousin and I scored average. According to our reports, this meant that we are not purely conventional nor are completely radical. In other words, we enjoy certain traditional things but are somewhat open to venturing out to unfamiliar things as well. The second personality inventory we took measure the same personality dimensions as the first. The test is available to anyone through the website: http://www.outofservice.com/bigfive/. There are a total of 48 items in the test. The participant is asked to rate their agreement with a given statement about themselves from a scale of 1 to 5 with 1 meaning complete disagreement and 5 meaning complete agreement. These items will see how the participant perceives himself to be like. My results in this test did not differ much from the first test. The main difference was that in this test, I scored low in openness to experience. In this test, I found out that I am conventional. In the earlier test I was neither conventional nor the opposite. For the other dimensions, my scores were very similar to the first. Basically, the test told me that I am well-organized and reliable. Also, it said that I am neither reserved nor particularly social. Furthermore, my results indicated that I was considerate of the feelings of other people and that I remain calm even in tense situations. On the other hand, the results of my cousin in this test remained consistent with his earlier test. As such, in this test, our differences lie in the dimensions of extraversion and openness. This test revealed that he was highly sociable and that was neither conventional nor complex. As for the dimensions of conscientiousness, agreeableness and emotional stability or neuroticism, our scores did not differ significantly indicating that we shared such personality traits. I learned several things from taking the two tests. First, it was able to tell me certain things about my personality. I discovered that I should not consider my self as completely unsociable for I do have the capability to mingle and enjoy my time with other people. I have long seen myself as being a loner but the tests have shown me that I indeed have it in me to enjoy the company of other people. Secondly, taking the test made me realize that indeed people who are alike tend to stay together. I am very close to my cousin. With our results being very similar, I realized that it was because we were very much alike in certain areas. Finally, the tests gave me a glimpse as to who I am. Although I know that the results do not sum up who I really am, I am glad to gain even just a faint idea as to who I really am. Reference: John, O (2003). The big-5 personality test. University of California, Berkeley. Retrieved 29 October 2007 from: http://www.outofservice.com/bigfive/. Revelle, W. (n.d). Internet Personality Inventory Survey. Northwestern University. Retrieved 29 October 2007 from: http://test.personality-project.org/.   

International Adoption essays

International Adoption essays There are many reasons as to why people choose to adopt a child. Sometimes it has to do with infertility and couples decide to adopt children because, I could not have biological children and I do not believe in some methods of fertility treatments (Carney), but there are other reasons too. According to Christine Adamec, some people think that it is better to adopt than to bring another child into the world. Others do not want to pass a certain genetic problem onto other generations, and some have medical problems that would make the pregnancy more difficult than usual, or even harmful to the mothers health. These types of adoptive parents are called preferential adopters (Adamec, 18-19). Most adoption agencies in the United States turn down couples who are fertile. A statement from their physician describing their infertility is required. Since fertile couples are turned down, they generally adopt a child from another country (Adamec, 18-19). The web page adopt.org/ states that since birth control and abortions are accessible to most United States citizens, fewer unplanned babies are born and a good number of unmarried mothers are choosing to keep their babies. There are relatively few healthy, United States born babies compared to the number of people looking to adopt. The number of foreign-born orphans adopted by United States citizens has risen from 9,356 in 1988 to 15,774 in 1998. This large number of foreign-born orphans adopted by United States citizens is this way because interracial adoption is no longer an issue because in October of 1995 the Multi-Ethnic Placement Act was passed. This act bars any agency involved in adoption that receives federal funding from discriminating because of race when considering adoption opportunities for children (adopt.org/). Even thought this act is geared more towards domestic adoption than international adoption, it has occurred in inter...