Please asign to requested writer

Assignment ?(8 page Minimum)

Budget Analysis assignment:
This assignment will involve an analysis of the syracuse budget see rescources for attachment and specifics. See attached grading rubic

This written analysis paper (8 pages minimum) will include three major sections:

(1) Evaluation of the strengths and weaknesses of the operating budget document
(2) Analysis and evaluation of the capital budget
(3) Recommendations for improving the budget process and public presentation

We will pay $300.00 for the completion of this order.

Dear students,



In this project, you are supposed to be a financial manager to apply the financial knowledge obtained from the course to estimate the cost of debt, cost of preferred stock, cost of common equity, capital structure, and the weighted average cost of capital (WACC) for a publicly-traded company of your choice. Then you are required to use the WACC as the discount rate to perform capital budgeting analysis of a project that the firm is considering.



(1) Read the Instructions for the Final Project carefully. Please let me know if you have any questions.

(2) You should inform the instructor of the company you choose before your formally start the project. Students should analyze different firms. If several students happen to select the same company, the first student who informs the instructor has the priority, so other students have to change their company selections.(Therefore, do not do a company that is too common)

(3) Financial data and industry ratios are available in the UHV online library.

(4) Your project should be well-organized and typed in a WORD file (Office 2003 version). Attach the necessary tables and/or worksheets with your report. The style and organization of the project accounts for 10 points. List the references that you cited or used in your project. The Final Project Grade Sheet may help you understand the contribution of each part of the project to your overall grade.

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INSTRUCTIONS TO THE PROJECTS:

Cost of Capital, Capital Structure,

and Capital Budgeting Analysis



1. Purpose of the project:

In this project, you are supposed to be a financial manager working for a big corporation and you have to apply the knowledge obtained from the financial management (FIN6352) course to determine the cost of debt, cost of preferred stock, cost of common equity, capital structure, and the weighted average cost of capital (WACC) for a publicly-traded company of your choice. You will use the WACC as the discount rate to conduct capital budgeting analysis for a project that the firm is considering and then decide whether it should be accepted or not.



2. Outline for the project:

(1) Executive Summary (10 points)

- Summarize the results and analysis of the report.



(2) Financial Ratio Analysis (40 points)

- Perform trend analysis of the key financial ratios (i.e., liquidity ratios, asset management ratios, debt management ratios, profitability ratios, market value ratios) of the company.

- Perform industry (or benchmark companies) comparison analysis of the key financial ratios of the company.

- Based on the financial ratio analysis results, evaluate the financial performance of the company.



(3) Estimate Capital Structure (25 points)

- Estimate the firms weights of debt, preferred stock, and common stock using the firms balance sheet (book value).

- Estimate the firms weights of debt, preferred stock, and common stock using the market value of each capital component.



(4) Compute Weighted Average Cost of Capital (WACC) (35 points)

- Estimate the firms before-tax and after-tax component cost of debt;

- Estimate the firms component cost of preferred stock;

- Use three approaches (CAPM, DCF, bond-yield-plus-risk-premium) to estimate the component cost of common equity of the firm.

- Calculate the firms weighted average cost of capital (WACC) using market-based capital weights.



(5) Cash Flow Estimation (40 points)

- We assume that the company you selected is considering a new project. The project has 8 years life. This project requires initial investment of $120 million to purchase land, construct building, and purchase equipment, and $8 million for shipping & installation fee. The fixed assets fall in the 7-year MACRS class. The salvage value of fixed assets is $30 million. The number of units of the new product expected to be sold in the first year is 800,000 and the expected annual growth rate is 8%. The sales price is $200 per unit and the variable cost is $150 per unit in the first year, but they should be adjusted accordingly based on the estimated annualized inflation rate of 3%. The required net operating working capital (NOWC) is 12% of sales. The company is in the 40% tax bracket. The project is assumed to have the same risk as the corporation, so you should use the WACC you obtained from prior steps as the discount rate.

- Compute the depreciation basis and annual depreciation of the new project. (Please refer to table 12-3 MACRS allowances)

- Estimate annual cash flows for the 8 years.

- Draw a time line of the cash flows.



(6) Capital Budgeting Analysis (40 points)

- Using the WACC you obtained for the publicly-traded company as discount rate, apply capital budgeting analysis techniques (NPV, IRR, MIRR, PI, Payback, Discounted Payback) to analyze the new project.

- Perform a sensitivity analysis for the effects of key variables (e.g., sales growth rate, cost of capital, unit costs, fixed costs, sales price) on the estimated NPV or IRR in order to demonstrate the sensitivity of the model.

- Discuss whether the project should be taken and summarize your report.



3. Other information regarding the project:

(1) Avoid firms in the financial sector. Their financial statements are not compatible with the type of model we study in this class. Generally, financial firms have 4-digit SIC codes 6000s.

(2) You will inform the instructor of the company you choose. Students have to choose different companies. If several students want to use the same company, the first student to inform the instructor will have priority; the others will have to pick another company.

(3) Your project should be well-organized and typed in a Word document and attach the necessary Excel worksheets with your report. The style and organization of the project is important.


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Financial Data and Industry Ratios Resources


(1) In the database D&B Key Business Ratios, you can find some key industry & business ratios. Other books, reference & print resources include 1) Almanac of Business and Industrial Financial Ratios 2) Industry Norms and Key Business Ratios 3) Robert Morris Associates (RMA) Annual Statement Studies.



(2) In the database Mergent Online, you can find financial data and information for most U.S. publicly-traded firms.


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FIN6352-Financial Management

Individual Term Project Grade Sheet



Category
Possible Points
Actual Points

Executive Summary
10


Final Ratio Analysis
40


Estimate Capital Structure
25


Compute WACC
35


Cash Flow Estimation
40


Capital Budgeting Analysis
40


Style and Organization
10


Total
200


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PROJECT RUBIC:
Perform capital budgeting analysis for a publicly traded company


1. Estimate the component cost of capital: Student applies capital asset pricing model to estimate cost of equity component. Can correctly estimate cost of debt and cost of equity. Students use various methods for each component cost.
2. Obtain the capital structure and calculate the weighted average cost of capital: Student must correctly estimates weights on capital components using book values and market values. Student correctly estimates cost of capital.Student researches financial reports and finds the target capital structure. Student presents a comparison against other firms in the industry.
3. Calculate net cash flows for an expansion project:Student correctly estimates Operating Cash Flows (OCF), correctly uses the adjustments to Net Operating Working Capital (NOWC) and calculates the Salvage Cash lows. Student uses models that consider inflation rates, multiple depreciation schedules and different salvage values.
4. Evaluate an expansion project: Student correctly calculates NPV and IRR in order to evaluate the project. Student documents his/her conclusion. Student applies other tools to evaluate the project. Student includes results for scenario analysis and uses sensitivity analysis for the main input variables.

Model Analysis

Opportunity Bank methodology is almost the reverse of the conventional banking methodology. Conventional banking is based on the principle that the more you have, the more you can get. In other words, if you have little or nothing, you get nothing. As a result, more than half the population of the world is deprived of the financial services of the conventional banks. Conventional banking is based on collateral, Opportunity Bank system is collateral- free. Opportunity Bank starts with the belief that credit should be accepted as a human right, and builds a system where one who does not possess anything gets the highest priority in getting a loan. Opportunity methodology is not based on assessing the material possession of a person; it is based on the potential of a person. Opportunity believes that all human beings, including the poorest, are endowed with endless potential.
Since The Opportunity Bank is a microfinance organization, so let me suggest a broad classification of Opportunity microcredit: It promotes credit as a human right. Its mission is to help the poor families to help themselves to overcome poverty. It is targeted to the poor, particularly poor women. Most distinctive feature of Opportunity credit is that it is not based on any collateral or legally enforceable contracts. It is based on "trust", not on legal procedures and system. It is offered for creating self-employment for income-generating activities and housing for the poor, as opposed to consumption. It was initiated as a challenge to the conventional banking which rejected the poor by classifying them to be "not creditworthy". As a result it rejected the basic methodology of the conventional banking and created its own methodology. It provides service at the door-step of the poor based on the principle that the people should not go to the bank, bank should go to the people.
Opportunity Bank would be founded on the principle that loans are better than charity to interrupt poverty: they offer people the opportunity to take initiatives in business or agriculture, which provide earnings and enable them to pay off the debt. The bank has gained its funding from different sources, and the main contributors have shifted over time. In the initial years, donor agencies use to provide the bulk of capital at low rates. The Bank can also start to get most of its funding from any of the twelve regional Federal Reserve Banks . Moreover, Opportunity Bank can start bond sales as a source of finance. The bonds are implicitly subsidized, as they are guaranteed by the US government, and still they are sold above the bank rate.
There are so many are appropriate and reasonable benefits and strengths at Opportunity Bank. Overarching objective of the conventional banks is to maximize profit. Opportunity Bank?s objective is to bring financial services to the poor, particularly women and the poorest ? to help them fight poverty, stay profitable and financially sound. It is a composite objective, coming out of social and economic visions. There is no legal instrument between the lender and the borrower in the Opportunity methodology. There is no stipulation that a client will be taken to the court of law to recover the loan, unlike in the conventional system. There is no provision in the methodology to enforce a contract by any external intervention. Conventional banks go into 'punishment' mode when a borrower is taking more time in repaying the loan than it was agreed upon. They call these borrowers "defaulters". Opportunity methodology allows such borrowers to reschedule their loans without making them feel that they have done anything wrong (indeed, they have not done anything wrong.)When a client gets into difficulty, conventional banks get worried about their money, and make all efforts to recover the money, including taking over the collateral. Opportunity system, in such cases, works extra hard to assist the borrower in difficulty, and makes all efforts to help her regain her strength and overcome her difficulties. In conventional banks charging interest does not stop unless specific exception is made to a particular defaulted loan. Interest charged on a loan can be multiple of the principal, depending on the length of the loan period. In Opportunity Bank, under no circumstances total interest on a loan can exceed the amount of the loan, no matter how long the loan remains underpaid. No interest is charged after the interest amount equals the principal.
Another benefit is that Conventional banks do not pay attention to what happens to the borrowers' families as results of taking loans from the banks. Opportunity system pays a lot of attention to monitoring the education of the children (Opportunity Bank routinely gives them scholarships and student loans), housing, sanitation, access to clean drinking water, and their coping capacity for meeting disasters and emergency situations. Opportunity system helps the borrowers to build their own pension funds, and other types of savings. Interest on conventional bank loans are generally compounded quarterly, while all interests are simple interests in Opportunity Bank. In case of death of a borrower, Opportunity system does not require the family of the deceased to pay back the loan. There is a built-in insurance program which pays off the entire outstanding amount with interest. No liability is transferred to the family.
There would be also possibility when the bank is over-indebting a lot of borrowers in a bad situation, sooner or later it will show up high default rates, especially I can mention the current financial crisis and also sometimes some micro borrowers in fact use their loan proceeds for non-business purposes. Consider these facts; avoid these undesirable outcomes First, insist on a set of clearly defined measures of success?such as income growth, quality of housing, school enrollment, and nutrition?for microcredit programs the bank support, and be willing to pay for the measurement. Second, invest in improving the effectiveness of microcredit?for example, by supporting vocational training and financial literacy for borrowers, improving access to technology. Third, look for opportunities to support the growth of small and medium-size business in regions of poverty. The bank should encourage the borrowers to adopt some goals in social, educational and health areas. The Opportunity Bank should look at the potential that is waiting to be unleashed in a person.
At Opportunity Bank, credit is a cost effective weapon to fight poverty and it serves as a catalyst in the overall development of socio-economic conditions of the poor who have been kept outside the banking orbit on the ground that they are poor and hence not bankable. Opportunity Bank can help these millions of small people with their millions of small pursuits to add up and to create the biggest development wonder.


YOU SEE THE MODEL ANALYSIS ( ABOVE) ; THAT 'S MY PROJECT . NOW YOU HAVE TO READ CAREFULLY ( UNDER) ALL THINGS ABOUT YOUR BUDGET ANALYSIS.

INSTRUCTION:

What will it take to fund your project? You must take THREE things into consideration: START UP COSTS, MAINTENANCE COSTS, and EXISTING ASSETS. What will it cost financially to launch your project and get it up and running? What will it cost to keep it running, at least for the first 3 years? With these three things in mind, decide who and what is needed financially and create a 3-year budget plan for your project.
Read the webpage "Guide to Writing a Funding Proposal--Budget." A blank budget table is available at the end of the article. Feel free to use it as a starter spreadsheet in developing your own budget.
A list of possible funding agencies for education-related projects are attached here: List of Funding Agencies.pdf.
Write a Budget Analysis where you spend one paragraph each describing your expenses for Year 1 (Start Up Year), Year 2, and Year 3 (Maintenance Years). For your concluding 4th paragraph, discuss possible sources of funds for your project. Also provide a spreadsheet or table showing a breakdown of expenses for each of the 3 years.



If you have any question , let me know. Few hints I need to tell you ; if you start to open a bank in nyc ; You need a building for rent , furniture, equipment, internet ,phone , computer , printer, employee' s salary , marketing cost etc. As my project ( all the above) to open an OPPORTUNITY BANK you need all these. now write 4 paragraphs which follow: Write a Budget Analysis where you spend one paragraph each describing your expenses for Year 1 (Start Up Year), Year 2, and Year 3 (Maintenance Years). For your concluding 4th paragraph, discuss possible sources of funds for your project. Also provide a spreadsheet or table showing a breakdown of expenses for each of the 3 years.

Hello. I will send two additional documents to support this request.One document outlines the specifics of this "paper" and the second one is the capital budgeting analysis spreadsheet. This request consists of the following components based on a given scenario provided in one of my attachments:

A. Complete the attached Capital Budgeting Template by doing the following:
1. Calculate the net cash flow that should be used for each year in the discounted cash
flow analysis.

2. Calculate the net present value (NPV) of this project using a discount rate equal to
the companys weighted average cost of capital. Round all dollar amounts to the
nearest whole dollar.

3. Calculate the expected yield on the project using the discounted cash flow internal
rate of return (IRR) method. Round all dollar amounts to the nearest whole dollar.

4. Calculate the accounting rate of return for this project.

5. Calculate the unadjusted payback period. State your answers in years and months.

B. Prepare a computer-based presentation in which you do the following:
1. Identify what the correct net cash flow for the second year would be if all cash
expenses were as described in the scenario but there were no depreciation expense.
a. Explain the impact of depreciation on net cash flow for the second year.

2. Based upon your NPV analysis in part A2, make a recommendation to Entrepreneur D
regarding what decision to make.
a. Explain why this is an appropriate action.

3. Based upon your IRR analysis in part A3, make a recommendation to Entrepreneur D
regarding what decision to make.
a. Explain why this is an appropriate action.

4. Explain why the accounting rate of return on this project is different from the internal
rate of return for the same capital investment.

5. Explain the relative significance of the unadjusted payback period in this decision
situation.

6. Explain how the weighted average cost of capital should be used in capital budgeting
analysis when utilizing the NPV method.

7. Explain how the weighted average cost of capital should be used in capital budgeting
analysis when utilizing the IRR method.

**Please do not change the student name boxes on the spreadsheet (line 5) as they are what trigger the data pre-population.** Thanks!

Once you receive the attachments, please let me know if there are any questions. Thank you!


There are faxes for this order.

Customer is requesting that (Serban) completes this order.

I need a budget analysis of information that I will fax for a fictional school system. The following 8 items need to be addressed. They should be in question answer form. Also please include a short conclusion of the budget analysis highlighting these areas. I have included my own calculations but please verify my numbers) Thank you David
Areas/Questions:
1. What dollar amount and percentage of increase/decrease is recommended in the area of student transportation? What were the expenditures in column 4 and compare with the School Board recommendations in column 6. (should find on page 1) ($242,758.97 47.26% increase)
2. What is the total dollar amount in debt service including principal and interest as recommended by the Budget Committee? (should find on page 1)($1,115,463.00)
3. Did the school board recommend the Budget Committees appropriation for Special Programs? Was the School Board recommendation and increase or decrease from the Budget Committees recommendation? And if so how much? (should be on page 1) (No--increase of $28,080)
4. What are the results for food service concerning the expenditures for the year 05-06 as compared to the approved appropriations for that year? (on page 2)(Exceeded appropriations by $22,999.34)
5. What are the top 3 in monetary costs for capital improvement projects recommended for the ensuing fiscal year? ( on page 3)(De-watering $86,000,Safety locks $56,431, Emergency access $44,000=$186,431)
6. Excluding food service sales what are the top 3 revenue budget lines for the year 05/06? (on page 4)(Local Source,Federal Grants, school building aid)
7. What is the total dollar amount for appropriations recommended by the School Board?(on page 6)($19,514,314)
8. What dollar amount and decrease or increase is this over the current adopted budget? (refer to question 7)( Increase $1,738,437 9.78%)


There are faxes for this order.

Here is the information:

Introduction:

Competition Bikes Inc. is considering an expansion to Canada and is trying to determine whether to merge with or acquire the Canadian Biking Inc. facility. Part of the consideration in the decision to merge with Canadian Biking, Inc. or to acquire Canadian Biking is the source and management of the working capital for the operation. In this task, you will prepare a summary report that analyzes the proposed expansion.

Task:


Note: Be sure to submit a copy of your Excel workbook when submitting your JET2 Task 3 work. The evaluator will need a copy of your data to ensure correct evaluation.


A. Prepare a summary report in which you do the following:

1. Recommend a capital structure approach that maximizes shareholder return.

a. Justify your recommendation.

2. Discuss capital budget areas that raise concern.

Note: In your comments be sure to address your findings related to Net Present Value and Internal Rate of Return.


3. Discuss how working capital can be properly obtained and managed for the Canadian expansion.

4. Discuss whether Competition Bikes Inc. should merge with or acquire the Canadian Biking Inc. facility.

Company storyline:
TASK 3 - EXPANSION OPPORTUNITIES
CANADA MANUFACTURING
Current Canadian Business
Canadian customer orders currently comprise about 10% of the company output. The orders are shipped from the U.S. Due to the continuing increase in the Canadian business the management of Competition Bikes, Inc. is considering a location in Canada.
Expansion to Canada
Market research completed in the last month has shown that there are a sufficient number of high end bicycle shops which could carry the CarbonLite product. As with the current U.S. model, a distributor network would be established to handle all orders and to act in a sales management capacity with the retail stores.
The ability to provide cost effective, great customer service to the growing Canadian market is a primary concern. Other considerations include:
1. Qualified labor force
2. Cost of labor
3. Land cost comparisons.
4. Cost to construct a new manufacturing facility.
5. Tax incentives for chosen location.
6. Transportation cost and reliability for bringing in raw materials and component parts and for shipping of finished products to distributors.
7. Community facilities and support that will meet employees? needs for education and health care as well as for recreational and cultural activities.
8. Community business attitude
Management has reviewed the information and data from the completed market research, including considerations as listed above. After careful analysis, Competition Bikes, Inc. chose Toronto as a potential manufacturing site.
Management has been considering the decision for about a month but a complicating issue arose in the last week. A competitor called Canadian Bikes, Inc. has contacted Competition Bikes, Inc. regarding the possibility of a merger. Canadian Bikes, Inc. is also willing to discuss acquisition. Canadian Bikes, Inc. already has a facility within Canada. The CEO of Competition Bikes, Inc. has asked you to provide an analysis of the options and to provide a recommendation.
Canadian Bikes, Inc.
Canadian Bikes, Inc. has heard that Competition Bikes, Inc. is considering a Canadian location. The board of Canadian Bikes, Inc. has proposed the following options to Competition Bikes, Inc.:
a. Canadian Bikes, Inc. has offered to merge with Competition Bikes, Inc.
b. Canadian Bikes, Inc. has offered to be acquired by Competition Bikes, Inc. for $1.485/share (a 10% premium over the current market price of $1.35. Consider if this is a reasonable offer price?
c. Canadian Bikes, Inc. has also offered to license the Titanium technology for $200/unit. Company management thinks the product would have appeal in the U.S. market and would provide a large increase in sales. The product would be introduced into the Competition Bikes, Inc.
product line regardless of the expansion plans adopted above. The U.S. facilities have sufficient capacity to build out bikes on the Titanium frames.
In your analysis you will consider:
1. Building a new facility according to the current U.S. factory layouts.
2. Building the new facility to U.S. factory layouts specifications but sell the structure with a leaseback.
3. Finding a factory building and either lease it or buy it.
4. Merging with Canadian Bikes, Inc. The company has a lower cost competition bike that is based on a Titanium frame.
5. Acquiring Canadian Bikes, Inc.
6. Buying the Titanium frames from Canadian Bikes, Inc. for $450/frame.
7. Licensing the technology. This option will require a capital investment of $500,000 for each factory location. Management has a strong objection to this option.
Task 3
Competition Bikes, Inc. is considering an expansion to Canada and is trying to determine whether to merge with or acquire the Canadian Bikes, Inc. Inc. facility. In this task, you will prepare a summary report that analyzes the proposed expansion.
There are various options to consider. The following data are used in the analysis.
Capital Structure
Competition Bikes, Inc. has different capital acquisition methods to choose from to fund the Canadian expansion if the decision is made to go forward with the expansion. Complete an analysis of the alternative capital sources available to optimize the company capital structure after obtaining the funds necessary for expansion.
1. Compute the optimal capital structure based on obtaining the required funds from bank loan at 6%. The bank will require a compensating balance of $150,000 (earning 1%) to be maintained.
2. Computes the optimal capital structure based on obtaining the required funds by issuing only bonds.
3. The student computes the optimal capital structure based on obtaining the required funds by issuing 5 year, 9% bonds for 50% and preferred stock for 50%.
4. The student computes the optimal capital structure based on obtaining the required funds by issuing 5 year, 9% bonds for 20% and common stock for 80%.
5. The student computes the optimal capital structure based on obtaining the required funds by issuing 5 year, 9% bonds for 40% and common stock for 60%.
6. The student computes the optimal capital structure based on obtaining the required funds by issuing 5 year, 9% bonds for 60% and common stock for 40%.
Choose the best option after considering the risks inherent in the options available. What measure is used in this analysis that indicates the best option? Use that measure for your choice.
CAPITAL BUDGETING
Complete a capital budgeting analysis based on the next five years of projected cash flows. You will compute the after tax cash flows for five years using two different sales forecasts (given) and then compute the net present value and internal rate of return for both sales forecasts.
The following data support this capital budgeting analysis:
1. The cost to build the manufacturing facility is expected to be $400,000. (All figures are in US$) Working capital of $200,000 will also be necessary to support the operation. These two items will be considered as the total investment in the capital structure analysis.
2. The depreciation on the new asset will be based on a 10 year life. The building is expected to have $250,000 value at the end of the ten years.
3. Management has decided that the most reliable data for a capital budgeting analysis is to estimate the number of product sales using the U.S. pricing and cost data. It is anticipated that costs will be consistent in the new Canadian location.
Low demand:
The new factory is expected to sell 500 CarbonLite models in Year 9. Sales growth of 1% is expected year over year in Year 10 and Year 11, then 2% sales growth is expected year over year in Year 12 and Year 13. Cost of goods sold will increase proportionately.
Moderate demand:
The new factory is expected to sell 500 CarbonLite models in Year 9. Sales growth of 3% is expected year over year in Year 10 and Year 11, then 5% sales growth is expected year over year in Year 12 and Year 13. Cost of goods sold will increase proportionately.
The costs to produce the current product line are expected to grow at 2% per year.
4. The selling and administrative expenses for the Canadian operation are expected to be approximately $250,000 for the first year due to higher levels of advertising expense. The anticipates reducing the ad expense by $10,000 each year for three years before stabilizing thereafter as word of mouth advertising becomes the primary advertising.
5. Competition Bikes, Inc. requires a 10% hurdle rate to pursue a capital investment.
LEASE VS. PURCHASE ANALYSIS
Competition Bikes, Inc. found a suitable existing facility it could buy outright for $400,000 using one of the options from the capital structure analysis. However, 5 year lease financing has been offered at 6% with a $50,000 down payment. The leasing company would buy the building outright and then accept five $90,000 lease payments over 5 years. A $50,000 buyout option would be included so Competition Bikes, Inc. could choose to keep the location at the end of the five year lease.
JET5
MERGER vs. ACQUISITION.
Competition Bikes, Inc. has been approached by Canadian Bikes, Inc. about merging the two companies.
Additional data:
a. The Canadian Biking, Inc. shares were trading for $1.30/share (US$) at the end of Year 8.
b. In a merged company the Canadian Bikes, Inc. shares will be exchanged for Competition Bikes, Inc. shares on a 3:1 basis.
c. Competition Bikes, Inc. has the option to acquire Canadian Bikes, Inc. at an offer price 10% above the Year 8 ending share price.
Consider the advantages and disadvantages after completing the financial analysis necessary for each of these options. Consider the risk and reward from each option.
Task Requirements:
A. Prepare a summary report in which you do the following:
1. Recommend a capital structure approach that maximizes shareholder return.
a. Justify your recommendation.
2. Discuss capital budget areas that raise concern.
3. Discuss how working capital can be properly obtained and managed for the expansion operation.
4. Discuss whether Competition Bikes Inc. should merge with or acquire the Canadian Biking Inc. facility.

The cash flows that should be included in a capital budgeting analysis are those that will only occur if the project is accepted. These cash flows are called incremental cash flows

So give more than 8 examples on each point below: ( Just I need examples with short definition about each point and what type should be included ( relevant) in the capital budgeting analysis and what should be irrelevant

Common Types of Cash Flows:
?Sunk costs ? costs that have accrued in the past
?Opportunity costs ? costs of lost options
?Side effects
?Positive side effects ? benefits to other projects
?Negative side effects ? costs to other projects
?Changes in net working capital
?Financing costs
?Taxes

The assignment is to conduct a thorough analysis of the city of Park Ridge, Illinois' public budget. The following criteria MUST be adhered to.

I will provide attachments of lectures in the form of Powerpoint presentations. Please use them to assist in the completion of the analysis. In addition, please try to utilize the text "Fiscal Administration - Analysis and Applications in the Public Sector" Seventh Edition by John L. Mikesell (ISBN: 9780495007401). If you can't find this text, then utilize other sources. Please ensure to cite any references using APA style.

YOU MUST utilize the "GFOA Detailed Criteria Location Guide" - "Distinguished Budget Presentation Awards Program" document/checklist. This document should be read before the analysis is conducted. The intention of the document to help identify the inclusion of vital components of a superior budget. THIS DOCUMENT MUST BE COMPLETED (ITEMS CHECKED) as part of the final product. I will attach this document as a source document. Please utilize it and PROVIDE A COMPLETED COPY ALONG WITH THE ANALYSIS PAPER.

Prepare a written analysis of the budget's adherence to the criterion in the four key components that make a budget an effective document. The four components are 1) The Budget as a Policy Document; 2) The Budget as a Financial Plan; 3) The Budget as an Operations Guide; 4) The Budget as a Communications Device. AN ANALYSIS FOR EACH OF THE FOUR KEY COMPONENTS MUST BE COMPLETED!!! The document mentioned previously,"GFOA Detailed Criteria Location Guide" - "Distinguished Budget Presentation Awards Program," includes details for each of the four key components. Each line item is categorized within one of these four components (P = Policy Document, F = Financial Plan, C = Communications Device, and O = Operational Guide).

Lastly, give the budget a grade on its overall adherence to the Budget Analysis Criteria and explain your reasons for the grade. Prepare a written analysis labeled "Budget Grade."

The grading system is as follows:

A - This is an outstanding budget document that meets all the Budget Analysis criteria and does so with the HIGHEST level of quality.

B - This is an above average budget document that meets all the Budget Analysis Criteria and does so EFFECTIVELY.

C - This is an average budget document that meets most of the Budget Analysis Criteria but needs improvement. (Ensure to identify the areas of improvement within the analysis if given this grade).

D- This budget document fails in its attempt to meet the Budget Analysis Criteria. (Ensure to identify the areas of improvement within the analysis if given this grade).

Please make recommendations for improvement. For example, this budget was graded C but could have been an A or B if these recommendations were implemented.

In a nutshell, the assignment requires you to use the checklist provided to see if all the items are included within the budget. The next step is to conduct an analysis on the items within the budget (considering the four key components). Try to make reference to the lectures provided, the text, or any other sources you choose to use. Lastly, grade the budget using the above grading system and make recommendations if applicable.

It is very important that you follow all the directions provided. Please remember the checklist must be completed, an analysis of the budget according to the four components must be conducted, and finally a "Budget Grade" section must be included with a grade and any recommendations.

It appears the 2011/2012 budget is final, available, and the most recent.

Here are some links. I will also provide them in a Word document as well.

Citys Webpage

http://www.parkridge.us/

Final 2011/2012 Budget

http://www.parkridge.us/assets/1/Documents/Budget-Final%202011-2012.pdf

City Budget Page with separated documents and a link to the final budget. (Do not confuse the 2011/2012 Budget with the 2010/2011 Budget documents that are posted as well)

http://www.parkridge.us/government/city_budget.aspx

I appreciate your attention to this project. The analysis must be at least 10 pages long, but no more than 12. Again, please also provide me a completed checklist ("GFOA Detailed Criteria Location Guide" - "Distinguished Budget Presentation Awards Program") as well.

I will also attach a copy of the budget for easy reference. Thank you so much!!!





There are faxes for this order.

CASE ANALYSIS: The Case of the Junior Analyst

Mark was recently hired by Boeing as a junior budget analyst. He is working for the Venture Capital Division and has been given six capital budgeting projects to evaluate. He must give his analysis and recommendation to the capital budgeting committee on Tuesday December 8.

Mark has a B.S. in accounting from CWU (2006) and passed the CPA exam (2006). He has been in public accounting for 2 years. During that time he earned an MBA from Seattle U. He would like to be the CFO of a company someday--maybe Boeing-- and this is an opportunity to get onto that career track and to prove his ability.

As Mark looks over the financial data collected, he is trying to make sense of it all. He already has the most difficult part of the analysis complete--the estimation of cash flows. Through some internet research and application of finance theory (learned in FIN 370 at CWU), he has also determined the unlevered betas for each project.
Here is the information that Mark has accumulated so far:

The Capital Budgeting Projects
He must choose one of the four capital budgeting projects listed in Table 1:
Table 1 shows the expected after-tax operating cash flows for each project.
The tax rate used in his calculations is 30%. All projects are expected to have a 4 year life. The projects differ in size (the cost of the initial investment) and their cash flow
patterns are different.. They also differ in risk as indicated by their unlevered betas.
The capital budget is $20 million and the projects are mutually exclusive.

Capital Structures
In addition to recommending one of the four capital budgeting projects, Mark has also been asked to evaluate alternative capital structures for financing the chosen project.
He has decided to evaluate 3 capital structures: no debt, 20% debt, and 50% debt.
If debt is used, the cost of the debt will depend upon the amount of leverage in the capital structure. At 20% leverage, the before tax cost of debt will be 7%. At 50% leverage, the cost of debt rises to 16% for all projects

Cost of Capital
Mark knows that in order to evaluate the projects he will have to determine the cost of capital for each of them. Boeings cost of capital is 15% based on a dividend plus growth model , but the projects risk levels are different from the company and from each other. Also the projects have no long term growth, they have an expected life of 4 years. Mark thinks the dividend/growth model is inappropriate for these projects and plans to calculate the cost of equity using the CAPM model.
The unlevered betas for each project are given in Table 1. The projects betas are based on the betas of companies that are in the same industries (pure plays). The betas have been adjusted (using the Hamada equation), so that they represent the unlevered betas of these pure play companies. If the projects are financed with leverage, the betas will increase and so too will the cost of capital. Mark plans to use the Hamada equation to estimate the levered betas. The unlevered project betas, the risk free rate and the expected market return are given in Table 1. He will use the WACC as both the discount rate and the reinvestment rate in his capital budgeting analysis.

Mark knows that Boeing executives have favored IRR in the past for making their capital budgeting decisions. His professor at Seattle U. said NPV was better than IRR. His textbook says that MIRR is also better than IRR. He is the new kid on the block and must be prepared to defend his recommendations.

First, however, he must finish the analysis and write his report. To begin, he has formulated the following questions that need to be answered:

1. What is the beta for each project at 20% and 50% leverage?
2. What is the cost of equity for each project at 0, 20%, and 50% leverage? Do you think the CAPM model is an appropriate way to calculate the cost of equity for these projects? Why or why not.
3. What is the WACC for each project at 0, 20%, and 50% leverage?
4. Calculate all relevant capital budgeting measures for each project (complete Table 2)?
5. Which of the projects are unacceptable and why or why not? Include on a single graph the NPV profile for each project.
6. Rank the projects that are acceptable, according to your criterion of choice.
7. Which project do you recommend and why? Explain why each of the projects not chosen was rejected.
8. For the capital budgeting project you selected, which capital structure do you recommend and why?
9. For the project and capital structure that you have selected, calculate the projects net income after-tax for the first year of operation.
10. Is there anything that you think Mark is doing incorrectly or overlooking in his analysis?

Instructions
Your answers should be word processed.
Questions 2, 5, 7, 8, and 10 are discussion questions.
Your calculations should be done on Excel.
Place your numerical solutions in Table 2.
The solution (questions 1 through 10) is due December 8.

All of the following information needs to be in excel. Needs an X,Y scatter graph.

Fall 2009 FIN 370 NAME ____________________________

SCENARIO 18

TABLE 1 Operating Cash Flows After Tax

t A B C D
0 (20,000,000) (20,000,000) (14,000,000) (18,000,000)
1 8,000,000 11,000,000 6,200,000 7,000,000
2 8,000,000 10,000,000 6,200,000 7,000,000
3 8,000,000 8,000,000 6,200,000 6,000,000
4 7,000,000 1,000,000 5,200,000 5,000,000

Other Information
Unlevered Beta 0.9 0.8 1 1.1
Risk free rate 3%
Market return 13%

Table 2 A A A
0 Lev 20% Lev 50% Lev
Beta
Cost of Equity
WACC
NPV
IRR
MIRR

B B B
0 Lev 20% Lev 50% Lev
Beta
Cost of Equity
WACC
NPV
IRR
MIRR

C C C
0 Lev 20% Lev 50% Lev
Beta
Cost of Equity
WACC
NPV
IRR
MIRR

D D D
0 Lev 20% Lev 50% Lev
Beta
Cost of Equity
WACC
NPV
IRR
MIRR

1. Budget Analysis - Budget Cuts-Text: Fiscal Administration:analysis and applications for the public sector by John L. Mikesell

In both good economic times and in bad, public managers will often need to review their budgets and suggest areas in which their budgets may be reduced. Read Question 1 at the end of Chapter 4 in your text and propose how you would approach reducing the School of Public Affairs at Enormous State University budget by 5%. Begin with the strategies offered in your text and try to find articles or information on how cutbacks are handled in your city or state. Respond to at least two of your classmates postings.
2. National Budget Simulation: The Committee for a Responsible Federal Budget.Stadilize the Debt Sinulator - http://crfb.org/stabilizethedebt/
Imagine that you are an Economic Advisor to the President and need to provide a plan for reducing the federal debt. Conflicting goals create a need for compromise and tradeoffs to create a national budget while trying to remain under deficit limits. Follow the steps below to complete the activity, then respond to the questions posed:
1. Follow this link to the The Committee for a Responsible Federal Budget: Stabilize the Debt Simulation.
2. Carefully read the background information and instructions before beginning the simulation. Your goal is
to stabilize the U.S. debt at 60% of GDP by 2018.
3. When cutting programs, keep in mind that program cuts could seriously affect citizens daily lives. While it
is easy to quickly reach deficit limits by making extreme cuts or even eliminating entire programs, try to
consider the real-life ramifications of such cuts. Make sure to click on each budget area to access more
information about it in weighing your decisions.
4. You do not need to provide your personal information at the end of the simulation.
After you have completed the online simulation, answer the following: What were the major changes you made to the budget to reach the goal? Why did you choose those changes over others ??" what were the trade-offs involved? How will the changes you made affect different groups of citizens? Do you think these changes would be politically feasible? Respond to at least two of your classmates postings.
________________________________________

Assignments:
Assignment #4 ??" Medical Associates

Medical Associates is a large for-profit group practice. Its dividends are expected to grow at a constant rate of 7% per year into the foreseeable future. The firms last dividend (D0) was $2, and its current stock price is $23. The firms beta coefficient is 1.6; the rate of return on 20-year T-bonds currently is 9%; the expected rate of return is 13%. The firms target capital structure calls for 50% debt financing, the interest rate required on the businesss new debt is 10%, and its tax rate is 40%.


You are to write a 3-6 page report that answers the following:

1. Calculate Medical Associates cost of equity estimate using the DCF method.
2. Calculate the cost of equity estimate using CAPM.
3. On the basis of your answers to #1 & #2, what is your final estimate for the firms cost of equity?
4. Calculate the firms estimate for corporate cost of capital.
5. Describe the four (4) steps of capital budgeting analysis.
6. Describe how is project risk is incorporated into a capital budgeting analysis.

The format of the report is to be as follows:
o Typed, double spaced, Times New Roman font (size 12), one inch margins on all sides, APA format.
o Type the question followed by your answer to the question.
o In addition to the 3-6 pages required, a title page is to be included. The title page is to contain the title of the assignment, your name, the instructors name, the course title, and the date.

NOTE: You will be graded on the quality of your answers, the logic/organization of the report, your language skills, and your writing skills.

The assignment will be graded using the following rubric:

Outcomes Assessed Evaluate the financial statements and the financial position of health care institutions.
Explain the complexity of cost behaviors in health care organizations and describe how costs are classified according to their relationship with volume.
Apply fundamental financial management skills and knowledge to health care organizations.
Develop a competence in making financial decisions using net present value, pertinent financial ratios, and break-even analysis.
Use technology and information resources to research issues in health financial management.
Grading Rubric for Assignment #4 - Medical Associates

Criteria 0
Unacceptable 20
Developing 30
Competent 40
Exemplary
1. Calculate Medical Associates cost of equity estimate using the DCF method. Did not attempt or calculated Medical Associates cost of equity estimate using the DCF method with less than 70% accuracy Calculated Medical Associates cost of equity estimate using the DCF method with 70 to 79% accuracy a Calculated Medical Associates cost of equity estimate using the DCF method with 80 to 89% accuracy Calculated Medical Associates cost of equity estimate using the DCF method with 90 to 100% accuracy
2. Calculate the cost of equity estimate using CAPM. Did not attempt or calculated the cost of equity estimate using CAPM with less than 70% accuracy Calculated the cost of equity estimate using CAPM with 70 to 79% accuracy a Calculated the cost of equity estimate using CAPM with 80 to 89% accuracy Calculated the cost of equity estimate using CAPM with 90 to 100% accuracy
3. On the basis of your answers to #1 and #2, what is your final estimate for the firms cost of equity? Did not attempt or determined final estimate for the firms cost of equity with less than 70% accuracy Determined final estimate for the firms cost of equity with 70 to 79% accuracy Determined final estimate for the firms cost of equity with 80 to 89% accuracy a Determined final estimate for the firms cost of equity with 90 to 100% accuracy
4. Calculate the firms estimate for corporate cost of capital. Did not attempt or calculated the firms estimate for corporate cost of capital with less than 70% accuracy Calculated the firms estimate for corporate cost of capital with 70 to 79% accuracy a Calculated the firms estimate for corporate cost of capital with 80 to 89% accuracy Calculated the firms estimate for corporate cost of capital with 90 to 100% accuracy
5. Describe the four (4) steps of capital budgeting analysis. Did not attempt or described steps of capital budgeting analysis with less than 70% accuracy and completeness; omitted major points and/or included irrelevant points Described some of the (4) steps of capital budgeting analysis with 70 to 79% accuracy and completeness Described most of the (4) steps of capital budgeting analysis with 80 to 89% accuracy and completeness Described all four (4) steps of capital budgeting analysis with 90 to 100% accuracy and completeness
6. Describe how project risk is incorporated into a capital budgeting analysis. Did not attempt or described insufficiently how project risk is incorporated into a capital budgeting analysis with less than 70% accuracy and completeness; omitted major points and/or included irrelevant points Described partially how project risk is incorporated into a capital budgeting analysis with 70 to 79% accuracy and completeness Described sufficiently how project risk is incorporated into a capital budgeting analysis with 80 to 89% accuracy and completeness Described how project risk is incorporated into a capital budgeting analysis with 90 to 100% accuracy and completeness
7. Clarity
Did not complete the assignment or explanations are unclear and not organized.
(Major issues) Explanations generally unclear and not well organized.
(Many issues) Explanations generally clear and/or organized. (Minor issues) Explanations very clear and well organized.
(Added helpful details.)
8. Writing ??" Grammar, sentence structure, paragraph structure, spelling, punctuation, APA usage.
Did not complete the assignment or had 8 or more different errors in grammar, sentence structure, paragraph structure, spelling, punctuation or APA usage. (Major issues) Had 6 - 7 different errors in grammar, sentence structure, paragraph structure, spelling, punctuation or APA usage. (Many issues) Had 4 - 5 different errors in grammar, sentence structure, paragraph structure, spelling, punctuation or APA usage. (Minor issues) Had 0 - 3 different errors in grammar, sentence structure, paragraph structure, spelling, punctuation or APA usage.

Dear Sir,
Please write a sample easy for me:

Assume that you have just estimated the cash flows and NPV for a project your company is considering. Your estimated NPV was +$10. The CFO is not sure whether to accept or reject the project.

Post an analysis of the feasibility of the project the CFO is considering based on estimated cash flows and NPV. In your analysis, answer the following:

What type of analysis would you use to make a business case for or against the project?

How would you justify your decision?

References:

Dhiensiri, N., & Balsara, N. (2014). An introductory application of Monte Carlo simulation in capital budgeting analysis. Journal of Financial Education, 40(1/2), 94?114. Retrieved from http://www.jfedweb.org/

Li, G., Hsiao, P., & Li, D. (2015). The impact of financial risk on business risk. International Journal of Business, 20(4), 279?290. Retrieved from http://www.craig.csufresno.edu/ijb/

Book: Gapenski, L. (2008.) Healthcare finance: An introduction to accounting and financial management (4th ed.) Chicago: AUPHA Press/ Health Administration Press.



Assignment Four .Medical Associates

Medical Associates is a large for-profit group practice. Its dividends are expected to
grow at a constant rate of 7% per year into the foreseeable future. The firm?s last
dividend (D0) was $2, and its current stock price is $23. The firm?s beta coefficient is
1.6; the rate of return on 20-year T-bonds currently is 9%; the expected rate of return is
13%. The firm?s target capital structure calls for 50% debt financing, the interest rate
required on the business?s new debt is 10%, and its tax rate is 40%.
You are to write a 3-6 page report that answers the following:
1. Calculate Medical Associates? cost of equity estimate using the DCF method.
2. Calculate the cost of equity estimate using CAPM.
3. On the basis of your answers to #1 & #2, what is your final estimate for the firm?s
cost of equity?
4. Calculate the firm?s estimate for corporate cost of capital.
5. Describe the four (4) steps of capital budgeting analysis.
6. Describe how is project risk is incorporated into a capital budgeting analysis.

Please include in text cites from book and other reference sources that includes actual book pages and/or websites. Please include references with web addresses.

Thanks in advance!

I would like the Writer?s

Develop a health care IT company (similar like Allscripts Healthcare Solutions Inc.) that provides a new product or service. Write a marketing plan for this company. Include the following:

Executive Summary
Your company
Your mission
What you sell
Keys to success
Macro Environment
SWOT analysis (strength, weakness, opportunity, treat)
Strategies
Marketing Objectives
Financial Objectives
Target Markets
Positioning
Research Approach
Marketing Mix
Place
Product
Promotion
Packaging
Price
Planning
Positioning
Sales Forecast
Sales
Strategies
Tactics
Budget Analysis
Conclusion

This paper should be approximately 25 pages typed double spaces. Include several charts and graphs in the appendix of the paper. You can use the ideal from that company but do not just copy from their writing. You can use the similar product or service but do not just copy it. Be careful about the plagiarism. Thank you~
There are some sources you can use to help you get the ideal below:

http://www.google.com/search?sourceid=navclient&hl=zh-TW&ie=UTF-8&rls=GGLD,GGLD:2005-11,GGLD:zh-TW&q=Allscripts+Healthcare+Solutions+Inc

http://www.allscripts.com/

http://www.allscripts.com/ahcs/news_2.asp?S=1298&ID=1

I need you to critique the research article below by answering 21 questions (I will fax these questions to you), in 3 pages, and if is it possible to write the source of the answer from the article (ex: page #, paragraph #, and line #).
Here is the article:


Author''s Abstract: COPYRIGHT 1996 American Society for Public Administration
How much can PCs aid city management? This article is based on a 1993 survey that compares computing in cities that use only personal computers (PCs) with computing in cities that use central computer systems. The authors found that claims that PCs would speed up automation of governmental functions were not substantiated. Central system cities were more widely automated, had more widespread use among staff, and were more likely to deploy leading-edge computer technologies than PC-only cities. Moreover, respondents in central cities were positive about computer impacts and satisfied with computing. PC-only cities had an edge over central-system cities in that they reported fewer problems with computers, but the test of statistical significance showed only a weak relationship. The authors argue that PC-only cities'' reliance on ad hoc solutions, out-sourcing, or "computer gurus," results in a failure to develop ongoing support capabilities. In contrast, central-system cities have developed and enhanced these capabilities over time, thereby providing greater support for the computing function and a more stable technology platform.
Both elected officials and professional managers in local governments believe in the value of computers, especially personal computers (PCs), to their own work and the work of government. Various academic studies have demonstrated this belief over the years (e.g., Dutton and Kraemer, 1979; Perry and Kraemer, 1980; and Norris, 1989 and 1992). Yet, policy makers are continually confronted with claims about computing that they find difficult to assess and that occasionally defy rationality. For example, within recent memory it has been claimed that privatization or outsourcing would take the computing problem off the hands of local officials at less cost and that geographic information systems would enable officials to make Solomon-like judgments about such important matters as land-use planning (e.g., Richter, 1991; Loh and Venkatraman, 1992; Public Technology Inc., 1991). More recent claims are that client-server computing is the new low-cost way to governmental automation (Gagliardi, 1994) and that desktop computers are the means to increase employee productivity and to empower workers to deliver better services to citizens (Greisemer, 1983 and 1984).
One of the most persistent claims, which has at least a decade of history, is that the PC can effectively replace larger central computer systems in local governments (i.e., mainframes and minicomputers). For example, it is frequently asserted that, unlike mainframe computing, the introduction of PCs is an easy, low-cost solution to automation in government. It is believed that by adopting PCs, latecomers to computing can leap-frog the brain-dead mainframe and minicomputer technologies and still gain all the benefits of these earlier, cumbersome technologies--and then some. All that is needed is basic investment in the technology and the empowerment of workers to use the technology in their jobs. The need for Management Information Systems (MIS) departments will be only to help make the transition and to train users in the new technology (see, for example, Greisemer, 1983 and 1984; and Voss and Eikemeier, 1984).
PCs may be all that small local governments or even some small units within larger governments need to conduct their business. However, it is extremely unlikely that even the most powerful and sophisticated PCs on the market today can solve all of the automation needs of local government. Indeed, recent studies of the lifecycle cost of PCs, actual experience with PCs, and recent reports on PC-based client-server computing call several of these assertions into question. For example, while the initial cost of PC-based client-server computing has been shown to be lower than mainframe or minicomputer alternatives by 20 to 30 percent, the five-year costs of PCs were found to be two to three times as great per employee (Nolan, Norton, and Company, 1992; Miller, 1993; Ambrosio, 1993; and "Client/Server," 1994). As one observer put it, "Technical support, end-user operations and administration can end up accounting for 85 percent of the cost of client-server systems on a five-year cost-of-ownership" (Moad, 1994). In addition, there are many hidden costs with PCs including pressure from users for the development of additional applications, the cost of linking independent systems developed by user departments with different platforms and operating systems, and the costs of training and support required by user departments.
Over and above the important issue of cost are the real limitations of the power of PCs and the availability of PC applications (Miller, 1993; Rabinovitch, 1994). After the initial euphoria over useful PC applications like word processing, spreadsheets, desktop publishing, and graphics packages, many local governments have found that PCs lack the software and the power needed for the day-to-day operations of government. Consequently, there is a trend among small and medium-sized cities to migrate upward to minicomputers where the power, software, and reliability are available (Kraemer and Norris, 1994). Moreover, only small cities have found suitable PC applications for the important business of local government like accounting, purchasing, treasury management, police and fire, engineering and public works, business licensing, urban planning, and parks and recreation functions.
Most municipal governments also have discovered that they lack the capabilities to develop such software themselves (Fletcher, Bretschneider, and Marchand, 1992). Many of them have learned to their sorrow that the small software services firms with which the contract for custom development lack the market and staying power to improve upon or even support their products beyond the first few years. Finally, city governments have learned that worker empowerment per se is not sufficient for the effective utilization of omputer technology.
What is missing is the institutionalization of knowledge and support within city hall. In his case studies of innovation in cities, Robert Yin noted that diffusion is characterized by three distinct phases: initiation, implementation, and routinization or institutionalization (Yin, 1979). The diffusion of PCs. unlike the diffusion of mainframes and minicomputers, appears to be in the implementation or, at best, early routinization stage in most cities, which probably accounts for its lack of institutional supports. Yet, the effective use of the technology requires these supports, and they will have to be provided if cities are to reap the real benefits available through PC computing.
In this article, we examine certain aspects of computing in U.S. cities that use only PCs and compare them with cities that use mainframes or minicomputers as well as PCs. Our aim is to assess whether the two computing environments are functionally equivalent, as many of the PC advocates would have it, or whether PC-only environments provide only some of the functions, applications, and benefits of their bigger brothers and sisters--the mainframe and minicomputer environments.
Findings
We compared these two sets of cities in seven areas: extent of automation, categories of end-users, degree of technological sophistication, problems with computers, impacts of computing, and satisfaction with computing.
Extent of Automation
PCs are offered as the solution to widespread automation needs in government because they are easy to install and use, and it is easy to find off-the-shelf applications for them. Indeed, the availability of programming is predicted to speed automation because governments can get off-the-shelf software rather than having to create applications from scratch. We have already noted the many useful off-the-shelf programs for PCs, including those for word processing, spreadsheets, database management, and graphics. However, these are programs for generic office automation functions as distinct from the business functions of government.
If the claim that PCs speed up the automation of governmental functions were true, we would expect to find PC-only sites as extensively automated as central-system sites, if not more so. Table 4 shows a total of 26 functional areas of local government ranging from word processing and office automation to computerization in police and fire, to parks and recreation, and to the public library. In each of these functional areas, central-system cities were more likely to be automated than PC-only cities. Moreover, in all but two areas, word processing and administration/office support, the relationship between computing environment and functional area computerization was statistically significant. Even there, centralsystem cities were more likely by a few percentage points to be automated than PC-only cities. The percentage difference ranged from approximately 4 percent (spreadsheets) to over 40 percent (engineering).
Table 4
Functions Automated (Percentage Responding Affirmatively)

Function(1) Central System PC Only
Word processing(2) 95.1 93.7
Graphics 67.1 50.8
Budget analysis 85.7 76.4
Budget development 88.2 81.0
strategic planning 27.7 17.3
Spreadsheets(3) 84.9 81.1
Electronic mail 33.1 16.1
Statistical analysis 39.8 26.5
In-house publishing 47.9 33.7
Database management 64.2 52.9
Geographic information systems (GIS) 29.6 10.2
Finance 92.8 83.1
Utility services 76.0 60.9
Personnel 75.8 54.5
Administration/office support(2) 66.3 62.7
Land record management 38.0 20.3
Law enforcement 76.0 62.3
Public works 63.7 43.6
Engineering 48.7 17.8
Planning/community development 48.6 27.3
Transportation 20.6 7.0
Fire department 58.5 32.1
Social services 12.7 4.7
Voter registration(4) 22.7 18.0
Parks and recreation 49.1 26.1
Library 32.7 23.4

Function(1) Cramer''s V
Word processing(2)
Graphics .16
Budget analysis .12
Budget development .10
strategic planning .12
Spreadsheets(3) .05
Electronic mail .19
Statistical analysis .14
In-house publishing .14
Database management .11
Geographic information systems (GIS) .23
Finance .15
Utility services .16
Personnel .22
Administration/office support(2)
Land record management .19
Law enforcement .15
Public works .20
Engineering .31
Planning/community development .21
Transportation .18
Fire department .26
Social services .13
Voter registration(4) .06
Parks and recreation .23
Library .10
(1) Unless otherwise indicated, p [is less than] .00. (2) Not statistically significant. (3) p [is less than] .02 (4) p [is less than] .01
However, in most cases, the strengths of the relationships were not especially great. Only geographic information systems, personnel, public works, engineering, planning and community development, fire department, and parks and recreation showed even moderate relationships (over .20) as indicated by the Cramer''s V score. In all other cases, the Cramer''s V was under .20, suggesting a weak relationship.(1)
Categories of Users
Because PCs are relatively easy to use, it is predicted that they will be used widely throughout city hall--by the highest level managers as well as by the lowliest of clerks or street workers (e.g., Sacco and Ostrowski, 1991; 3). However, a number of studies which examined the actual extent of microcomputer use in cities contradict this claim. They conclude that there has been relatively low use by managers and that frequently touted images of the "knowledge executive" (Cleveland, 1985) were seldom found. Although some managers do fit the profile of the direct hands-on user, most do not (King et al., 1992; Kraemer et al., 1993). Moreover, the researchers concluded that "there are sound reasons why it might be appropriate for most executives to continue to delegate much `hands-on'' computer use to subordinates" (King et al., 1992; 48). A related study concluded that the "democratization" of computer use that was supposed to be brought about by the PC also did not occur. Although PCs were widely distributed in governments, the pattern of distribution was nearly identical to the distribution of terminals on mainframes (Dunkle et al., 1994).
The results of the present study support these earlier findings. If PC computing led to widespread use throughout the municipal hierarchy, one would expect officials in PC-only cities to use computers at least as much as their counterparts in central-system cities. The data in Table 5 show that this is not the case. Assistant managers, department heads, technical staff, and administrative staff in central-system cities used computers more than their counterparts in PC-only cities, and the differences were statistically significant. With the exception of technical staff, however, the Cramer''s V scores suggest that while the differences were statistically significant, they were not strong. The data also show that the difference between managers in central-system and PC-only cities was not statistically significant.
Table 5 Who Uses Computers in Your City? (Percentage
Responding Affirmatively)

User Central System PC Only Cramer''s V
Manager/CAO 58.0 62.2 Not significant
Asst. manager/CAO 43.4 29.1 .14
Department heads 84.1 68.2 .19
Technical staff 77.5 52.1 .26
Administrative staff 96.0 92.0 .08


p [is less than] .01
Technological Sophistication
The increasing power and sophistication of PCs is used by some to argue that organizations which adopt PCs can advance rapidly and join the ranks of the most technologically advanced. We have already shown that PCs have some important limitations with regard to software applications available for many governmental functions. Similarly, some advanced technologies cannot run effectively on PCs either because they require greater power and other capabilities not available with PCs, or require staff and expertise not commonly found with PCs. Two current examples are full-blown GIS (geographic information) and AFIS (automatic fingerprint identification) systems.
A rough assessment of the technological sophistication of PC environments can be found by comparing the extent to which PC-only cities and central-system cities have adopted leading-edge computer technologies. The cities were asked whether they had adopted or were planning to adopt 23 leading-edge technologies. The findings show, first, that relatively few cities have adopted many of these technologies. Only 7 of the 23 listed technologies had been adopted by more than 15 percent of the responding cities (Table 6). Second, central-system cities were far more likely to have adopted advanced information technologies than PC-only cities. In all cases. the differences were statistically significant. In three cases, the Cramer''s V scores suggested modest relationships (.19 for e-mail; .20 for portable computers; and .21 for scanners).
Table 6
Adoption of Advanced Technologies(1) (Percentage Responding
Affirmatively)

Currently Have
Technology Central system PC Only V=
CD ROM 21.2 8.3 .17
Bar code 17.7 9.1 .12
Portable computers 37.9 19.0 .20
GIS 22.0 7.5 .19
Fax board in computers 20.6 11.5 .12
Scanners 31.3 12.3 .22
E-mail 27.1 11.5 .19

Considering
Technology Central System PC Only V=
CD ROM 24.9 17.5 .09
Bar code 31.7 16.3 .17
Portable computers 17.2 17.5 Not
significant
GIS 29.0 21.1 .09
Fax board in computers 19.0 17.4 Not
significant
Scanners 20.4 17.0 .04
E-mail 18.4 10.4 .11
(1) Unless otherwise indicated, p <.01
Note: The cities were asked to respond whether they currently had adopted or were considering future adoption of 23 advanced technologies. Technologies were selected for inclusion in the table if current adoption was greater than 15% or considering future adoption was greater than 25%.
A third finding is that, at the time of the survey, cities were not considering future adoption of advanced technologies with any great momentum. For five of the seven technologies, fewer than 25 percent of centralsystem cities were considering adoption, and none of the technologies was being considered by as many as 25 percent of the PC-only cities. Moreover, with the exception of portable computers, fax boards, and scanners, central-system cities were more likely to be considering future adoption of these technologies than PC-only cities.
The cities were also asked if they had adopted local area networks (LANs). Here again, if the rhetoric about PC computing is correct, we would expect to find a far greater level of adoption of local area networks in PC-only cities (Table 7). We would also expect PC-only cities to show a greater adoption of LANs because these cities have a relatively greater need for PC networking than cities with central systems. This is because in a central system, the technology involves terminals or PCs that are connected to mainframes or minicomputers whereas, without LANs, PCs operate as stand-alone devices in PC-only cities.
Table 7
Does Your City Have a LAN?
(Percentage Responding Affirmatively)

System Yes
Central system 48.1
PC Only 50.3
(Not statistically significant.)
The data do not support these expectations. Slightly over 48 percent of central-system cities had LANs and slightly over 50 percent of PC-only cities had LANs. The difference was not statistically significant.
Problems with Computers
The PC is a newer and simpler technology that is easier for employees to learn to use, whereas central systems usually require technical staff to operate them. The PC is usually operated in a stand-alone mode rather than networked, so there is less difficulty in determining whether problems chat develop are on the PC, the network, or a shared file server than is the case with mainframes and minicomputers. Because they are relatively inexpensive and easy to learn to use, PCs have been more readily adopted than resisted by city staff. Consequently, PCs are often said to be relatively free of problems with equipment, vendor support, staff training, and system use chat have sometimes plagued central systems.


To test this proposition, the cities were asked eight questions about problems with computers. The questions concerned training, equipment performance, equipment reliability, vendor service, software availability, resistance to use, system under-utilization, and resistance to organizational change (Table 8).
Table 8
Problems with Computers
(Percentage Responding Affirmatively)

Problem Area Central System PC Only Cramer''s V
Training 50.7 36.2 .14
Equipment performance 22.2 14.6 .09
Equipment reliability 15.2 10.6 .07
Vendor service 26.4 24.0 .03
Software availability 30.8 14.2 .19
Resistance to use 34.1 25.5 .09
Underutilization 47.9 37.0 .11
Resistance to org. change 31.0 24.1 .07
Note Unless otherwise indicated p [is less than] .01
In all cases, fewer PC-only cities reported experiencing problems widh their computers (PCs) than did respondents from central-system cities whose organizations had both central systems and PCs. In those cases (i.e., software availability, training, and underutilization), the percentage differences were fairly substantial; in the remaining five areas, the percentage differences were smaller. In all cases, the differences were statistically significant but weak. The Cramer''s V scores were all below .20 and in five cases, below .10. This suggests that while PC-only cities, predictably, experience fewer problems with their systems, the differences are not as great as might be expected from the rhetoric.
Moreover, the reported differences make perfectly good sense. For example, concerning software availability, the fact is that a far greater range of software is currently available for PCs than has been true historically for minicomputers and mainframes. Moreover, this software is for both general purpose users (e.g., computer aided drawing and mapping) and highly sophisticated activities (e.g., geographic information systems). PC hardware is also less sophisticated and complex than mainframe and minicomputer equipment. Much of the PC software is also more user friendly, is generalizable rather than task specific, is easier to learn and is often supported by a wide array of training programs (e.g., offered through private sector organizations, community colleges and the like). All of this would suggest chat PCs would experience less user resistance, less under-utilization, fewer complaints about reliability and performance, and relatively less need for vendor service and training.
What is really remarkable about these data, however, is not the existence of the differences but their relatively small magnitude and the weak Cramer''s V score. Thus, even though the data favor PC installations, they do so only marginally.
Impacts of Computer Use
It has been argued that mainframes and minicomputers had limited impact on government because computing was centralized, mainly applied to the financial area of government, and accessed primarily by the priesthood in the MIS department. By contrast, the significance of the PC was that it would allow computing to be decentralized or distributed--available to managers, analysts, and staff throughout the government. This broader availability would allow computing to be used for functions beyond finance, like police, fire, public works, planning, and more. The advent of the PC would change the MIS priesthood into more of a support and service organization focused on user department needs. Consequently, the impact of PCs on government would be far more positive than the impact of central systems, especially in areas like personal productivity, employee creativity, analysis and decision making, quality of work life, and service delivery (Greisemer, 1983, 1994; Sacco and Ostrowski, 1991). If the PC environment is indeed superior, then reported impacts in PC-only cities should be superior to those reported in central-system cities.
The cities were asked 11 questions about the impact of computers in their organizations (Table 9). Because of the way in which the survey instrument was constructed, we can provide a comparison of the answers but not a statistical test of significance of the differences between PC-only and central-system sites.
Table 9
Computer Impacts(1)
(Number and percentage agreeing with statement that
"computers....")

Category Central System PC Only
Number Percent Number Percent
Improve job performance 1148 96.2 1770 98.3
Reduce costs 852 75.3 1323 77.6
Enhance creativity 587 57.9 1646 94.2
Enable in-depth analysis 856 81.0 1579 93.9
Improve communication 781 75.0 1277 79.5
Eliminate jobs 216 19.8 263 15.9
Improve timeliness 1071 93.1 1583 91.1
Improve quality 1077 94.2 1684 96.3
Improve morale 679 67.0 1315 82.1
Increase frustration 473 44.7 609 38.6
Improve decision making 975 88.6 1527 91.2

Category Percentage
Difference Direction(2)
Improve job performance 2.1 PC
Reduce costs 2.3 PC
Enhance creativity 36.3 PC
Enable in-depth analysis 12.9 PC
Improve communication 4.5 PC
Eliminate jobs 3.9 PC
Improve timeliness 1.2 CS
Improve quality 2.1 PC
Improve morale 15.1 PC
Increase frustration 6.1 PC
Improve decision making 2.6 PC
(1) The questionnaire was constructed in a manner that precluded our being able to test statistically a relationship between specific impacts (as dependent variables) and computing environment (central-system or PC-only site) as independent variables. The magnitude of the percentage differences suggests that computing environment was related to impacts in only 3 of 11 cases where differences were greater than 10 percent. Although one could argue that in 2 additional cases where differences were greater than 5 percent a statistically significant relationship exists, it is likely that the relationship would be quite weak.


(2) PC = PC-only site. CS = Central-system site.
Nevertheless, three things are notable from the data. First, the impact of computing was viewed quite favorably by the respondents regardless of type of site. These cities clearly felt that the impact of computers within their organizations was largely (indeed, almost exclusively) positive. This finding is consistent with the results of studies of computer impacts for 20 years (see, for example, Danziger and Kraemer, 1986).
Second, for all but one of the impacts, the differences favored PC-only cities. Third, in only 3 of the 11 impact areas (enhance creativity, enable in-depth analysis, and improve morale) was there a difference greater than 7 percent between central-system and PC-only sites. Here, 36.3 percent more PC-only cities agreed that computers enhance creativity, 12.9 percent said that computers enable in-depth analysis, and 15.1 percent said they improve morale. In the other 8 cases, the differences between central-system and PC-only cities ranged from 1.2 percent to 6.1 percent. These data suggest that, in terms of perceived impacts, the PC-only computing environment is only marginally superior, if at all, to the central-system environment.
Satisfaction with Computing
Given the litany surrounding PCs, one would expect that cities using them would show greater evidence of satisfaction with PCs than would cities using central systems. Although the survey did not provide us with a direct measure of the cities'' satisfaction with the type of computing environment they had chosen, we can use two questions to provide a surrogate measure. The cities were asked to rate their experiences with PCs and also to indicate the extent to which they planned to purchase additional computer equipment. If cities were not satisfied with their computing environments, we would expect that dissatisfaction to show in their answers to these questions. That is, they would not rate their experiences positively and would not be likely to purchase additional equipment. Additionally, answers to these questions enabled us to detect differences in levels of satisfaction between central-system and PC-only cities. Because of the way the question was constructed, however, we can provide comparisons of answers but not a statistical test of the significance of the differences between central-system and PC-only cities.
The data suggest that these cities were quite satisfied with both central systems and PCs. To begin with, there were virtually no differences between central-system and PC-only cities over their experiences with PCs (Tables 10 and 11). About 9 out of 10 of both types of sites (91.4 percent centralsystem cities and 89.1 percent PC-only cities) said that PCs met or exceeded their expectations. While the difference is statistically significant (at the p [is less than] .05 level), the Cramer''s V score of .07 suggests a very weak relationship.
Table 10
How Would You Rate Your Experience with PCs'' (Percentages)

Exceeded Met Did Not Meet
System Expectations Expectations Expectations

21.3 70.1 4.6
Central system 16.6 72.5 5.4
PC only

System Too Early
to Tell

Central system 4.0
PC only 5.5
p [is less than] .05; Cramer''s V = .07.
Table 11
How Would You Rate Your Experience With
Minicomputers/Mainframes? (Percentage)

System Exceeded Met Did Not Meet
Expectations Expectations Expectations
Central System 16.7 66.7 14.0
PC only(1) NA NA NA

System Too Early
to Tell
Central System .03
PC only(1) NA
(1) Only central-system cities responded to this question.
When central-system cities rated their experiences with minicomputers and/or mainframes, more than 8 in 10 (83.4 percent) indicated that these systems had met or exceeded their expectations. Although a few percentage points lower than the ratings given by both central-system and PC-only cities of their experiences with PCs, a better than 80 percent rating for central systems is strongly positive.


While the vast majority of cities said that central-system and PC-only computing met or exceeded their expectations, greater differences occurred in these cities'' levels of dissatisfaction. Here, 14.0 percent of the central-system sites said that central systems failed to meet their expectations. This compares quite unfavorably to the 4.6 percent of central-system and 5.4 percent of PC-only sites that felt that PCs did not meet their expectations.
Another indicator of the satisfaction with computing environment can be found in the extent to which a city plans to purchase additional computer equipment. As indicated in Table 12, there is virtually no difference between PC-only and central-system cities in this regard. Half of the central-system cities compared with 47 percent of the PC-only cities indicated that they would purchase additional computers within the next two years. Nearly 23 percent of central-system cities said they would purchase the same amount of computer equipment as did 24.2 percent of PC-only cities, and 27.1 percent of central-system cities said they would purchase less computer equipment as did 28.8 percent of PC-only cities.
Table 12
Projected Purchases of Computers in Next Two Years
(Percentage Responding Affirmatively)

City System Purchase More Purchase Same Purchase Less
Central system 50.0 22.9 27.1
PC only 47.0 24.2 28.8
(Not statistically significant.)
Discussion
These data strongly suggest that the rhetoric surrounding the adoption of PC computing exceeds the reality of that computing. This is true in virtually every area examined, including the breadth of functions automated, the types of users, the adoption of leading-edge technologies, problems associated with computing, impacts of computing, experience with computers, and projected purchases of computer equipment.


Computers have been used by cities since the 1950s. Nevertheless, their successful diffusion continues to be a matter of interest and concern to elected officials and public managers alike. Successful diffusion of a new innovation is not simply a matter of the adoption and spread of technology. It also involves knowledge of how to use, maintain, manage, and innovate with the technology; the availability of skilled and experienced professionals; and the creation of institutions to foster those processes and people (Gerrity and Rockart, 1986). For the most part, the introduction of PCs into city governments has failed to develop these requisites, whereas the earlier adoption of central systems did develop them. Indeed, these requisites for PCs are more likely to have been developed in cities with central systems than in those with PCs only.
The data and analysis in this article have shown that in cities with central systems, the technology is generally more sophisticated, is more widely diffused within the various functions of city government, and is used by a greater proportion of managers and professionals than in PC-only cites. Despite all of the disapprobation heaped upon central systems and the MIS departments that tend them, the impact of these systems on city hall is viewed positively overall and, also, favorably in comparison with PC-based systems. Finally, central systems appear to be institutionalized within city governments while PC-only systems are only routinized.
Given these results, why is there such a discrepancy between the images and reality of central-systems and PC-based computing? There are many answers, but one has to do with the stage of each innovation in city hall. Computing in the mainframe and minicomputer era developed incrementally over a 40-year period. During that time, the MIS function became institutionalized within city hall. MIS budgets became a regular part of the resource allocation processes within government. The MIS department became an institutionalized source of technical expertise and a provider of day-to-day computer services. It also became a champion and promoter of user needs for new or improved applications.
By contrast, the PC revolution came rapidly and recently. It began less than a decade ago for most cities, and unless in the context of a centralized system, PCs usually came with few of the supports provided with the earlier technology. PCs came with general-purpose packaged software but rarely with software tailored to the specific functions of government. PCs also came with a minimum of support staff--usually a few people to install the PCs, give initial training in their use, and later connect them via local area networks.
In most PC-only cities, a broad-based support function for PCs has not yet been institutionalized. What exists is ad hoc, small groups of people, usually scattered among the user departments and depending heavily upon informal networks and the willingness of particular individuals to help one another. Sometimes, support is provided by a departmental computer guru--a user turned computer specialist who has displaced organizational goals and no longer performs his or her original job function. Even when support is institutionalized in a PC support group, it is usually small in size and heavily focused on operational issues. Planning, training, migration, consulting, and broader functions are generally missing. By comparison, central systems are far more likely to have highly developed and well-institutionalized support functions, usually centralized within a department charged with carrying out these functions.
A clear implication of this research is that PC-only cities might gain a greater measure of the benefits of PC computing if they enhanced the support provided for these systems. For example, one of the key roles provided by PC support groups is training. Research by Northrop et al. (1994) showed that training can help employees to gain greater benefits from computer use by increasing their computer literacy and assisting them to overcome the limitations of application software.


Another factor that may help to account for the modest differences found here is that the current generation of central-system hardware is much easier to use and more reliable than earlier generations, and a wider range of software is available for it. In other words, central systems, for the most part, are just not as bad as their detractors would argue. They are also far more powerful and versatile than PCs, or than PC advocates might acknowledge. One of the many positive, if unintended, consequences of the PC revolution has been the improvements in mainframe and minicomputer hardware and software technology. Indeed, both central systems and PCs have improved incredibly over the past decade. Hence, it is increasingly difficult to find significant end-user differences in their use. A second implication of these findings, then, is that the value of centralsystem computing should not be so easily dismissed.
City size is also important to our understanding. Larger cities have unquestionably greater needs for computing, including advanced computing, than do smaller cities. Larger cities also have larger budgets and are more likely to be able to afford larger, more sophisticated, more expensive computer systems, including both central systems and PCs. Thus, larger cities will on average have bigger, better, more extensive, and more advanced computer systems. They will also be more likely to have fully developed MIS support capabilities. Smaller cities will not.
None of these findings deny the importance and value of PC computing in cities. However, they should serve as a cautionary note. Sometimes, false or misleading rhetoric is used by vendors, managers, and users to justify particular approaches to computing. Consequently, local government policy makers and managers can get caught up in the religious-like fervor of PC "true believers," be misled by departmental managers seeking to control more of their own domain, or become entangled in power struggles between user departments and the MIS department over control of computing resources. These findings should serve as a caution to those whose advocacy of PC-only computing would allow rhetoric to exceed reality. As good as PC-only computing may be, it is not always an acceptable substitute for a central system. And, central-system computing is dearly not the technological mastodon that some of its detractors would claim.
Notes
The authors gratefully acknowledge the assistance of the International City Country Management Association (ICMA), especially Woody Talcove, Director of Research; Lisa Huffman, Research Associate; and Evelina Moulder, Senior Editor, Data Publications, in constructing the questionnaire and conducting the survey. We also acknowledge the comments of the anonymous PAR reviewers.
(1.) Cramer''s V score ranges from .00 to 1.00. The closer to 1.00, the stronger is the relationship between two variables. See, for example, Chapman (1981) and Elifson, Runyon, and Haber (1990).

References
Ambrosio, Johanna, 1993. "Client/Server Costs More than Expected." Computerworld, vol. 27 (October 18), 28
Chapman, Dean J., 1981. Basic Statistics for Social Research, 2nd ed. New York: MacMillan.
Chisholm, John, 1994. "Enterprise Client-Server Costs." Capacity Management Review, vol. 22 (August), 5.
"Client/Server Is a Costly Option." Insurance Systems Bulletin, vol. 9 January), 4-5.
Cleveland, Harland, 1985. The Knowledge Executive: Leadership in an Information Society. New York: Dutton.
Danziger, James N., 1977. "Computers, Local Government, and the Litany of EDP." Public Administration Review, vol. 34 (1), 28-37.
Danziger, James N. and Kenneth L. Kraemer, 1986. People and Computer. New York Columbia University Press.
Dunkle, Debora, John Leslie King, James N. Perq, and Kenneth L. Kraemer, 1994. "Personal Computers and the `Democratization'' of Computing in U5. City Governments." Information and the Public Sector, vol. 3 (2), 115-133.
Dutton, William and Kenneth L. Kraemer, 1979. "Urban Technology, Executive Support, and Computing." The Urban Interest, vol. I (2), 35-42.


There are faxes for this order.

Essay case study.

Write a formal report that will discuss the merits of two applicants, Grace and Ronan, for the position of restaurant manager for a hotel. The outcome report will be a recommendation about who should be offered the position, assume you are the recruitment consultant writing the report to the senior management team.

The report should include the following headings:
- Executive summary
- Introduction
- Findings
- Analysis
- Recommendation.

The information that needed to include under each of these headings is:
- Executive summary
This part is just a normal summary.

- Introduction
In this section must:
Identify the purpose of the report
Provide a background to the hotel, including a brief description of the existing workplace culture.
Describe the circumstance leading up to the job vacancy.

- Finding
This section will have two sub-headings. They are:
Leadership theories appropriate for the position of the restaurant manager.
Before write this section you must read through the requirements for the job (see the case study).
Choose two theories to describe why and how these two theories are suitable and useful in helping to choose the right applicant for the position.
Point out any limitations or weaknesses these theories have in assisting to choose the right applicant.

Motivational theories:
- Maslows theory
- Herzberg theory

Choose one of these theories and describe why and how this theory is suitable and useful in helping to choose the right applicant. (Focus on why and how these theories are useful for choosing the right applicant for the job, especially with regard to the workplace culture. You also need to point out any weakness the theories may have in helping to choose the right applicant.

- Analysis
In this section you should explain which applicant fits the job requirements most closely. This will require an analysis of their leadership and motivational styles and an evaluation of their strengths and weakness. Your analysis should enable the reader to clearly see which applicant is more appropriate for the job.
This section will have three subheadings, they are:
1. Applicants leadership style.
In this section you will provide evidence from the scenario and discuss how it shows how each applicants leadership style is appropriate or inappropriate for the staff at Red Sea.

2. Applicants motivational technique.
In this section you will provide evidence from the scenario and discuss how it shows how each applicants motivational techniques is appropriate or inappropriate for the staff at Red Sea.

3. Applicants team work capability.
In this section you will provide evidence from the scenario and discuss how it shows how each applicants teamwork capability is appropriate or inappropriate for the staff at the Red Sea. (note: In this analysis section, make sure you use the leadership and motivation theories to show how appropriate or inappropriate the applicants are for the job. In the other words, do they have the right approach in the way they will lead and motivate staff? Will their relationship/motivation style fit into the organisational culture of the Red Sea restaurant? Will these leadership/motivational styles help or hinder staff in their efforts to perform at their best levels? You must use the 2 leadership theories too analyse the motivational technique of each applicant).

- Recommendations
In this section, you will need to make a firm statement clearly identifying whether Grace or Ronan should be given the position.


Case Study


The AOI hotel has advertised for the position of restaurant manager for their Red Sea Restaurant. There are two applicants, Grace and Ronan.

To success of the Red Sea has largely been the result of the ingoing commitment and dedication of the front-of house staff.

To ensure this success, the senior managements strategy was to employ qualified people to fill management positions. These qualified managers had to show that they had excellent leadership and motivational skills that were necessary to develop and maintain high performing work teams.

The culture of the workplace is as follows:
Staff in the Red Sea have been well trained, are highly autonomous, show good initiative in solving customer complaints and are often delegated extra responsibilities due to their reliability and trustworthiness. They also show effective teamwork where they assist one another to complete tasks. There is open and honest communication between them.

Apart from the usual operational duties of a Restaurant Manager, the successful applicant for the position would especially responsible for:
- Liasing with senior managerial staff on staffing issues
- Providing mentoring and coaching support for team leaders
- Assisting in team building with customer service staff
- Solving problems in order to ensure a high level of customer service
- Recruitment of staff
- Developing training programs and schedules for staff
- Instigating staff reward programs
- Developing career pathways


The Applicants.
You are the recruitment consultant and you have narrowed it down to the following two people, Grace Hannaford and Ronan Atkins.

1 applicant Grace Hannaford

Grace is in her 20s and her CV includes the following:
When she was in her mid to late teens, her first just was a McDonalds trainee and then a supervisor for the same chain. While she held the supervisory position she and her team achieved the highest sales in the state for 2 year in succession. Her team was reported to be highly cohesive and worked well together to achieve sales targets. She had developed shared goals, established clear roles for each staff, treated mistakes as opportunities to learn and regularly gave feedback.

From there to her early 20s, she worked at the Sea Grill caf as a team leader where she was responsible for training front- of house staff in effective customer communications and sales techniques. She also used principles of developing teamwork to maintain a harmonious work force where it was obvious that staff were motivated and able to focus on delivering good customer service. She also arranged the staff incentive salesperson of the month because she believed it was important to give recognition to staff for effective job performance. She also encouraged the managers to institute a system of delegation of senior duties to staff in order to develop and encourage those wishing to seek promotion and who were seen to be very capable in their work.

She is presently an assistant restaurant manager at the Stockade Tavern.
Apart from the usual managerial responsibilities of rostering, stock control, budget analysis and assisting the restaurant manager as required, she has been particularly active in developing staff, with regards to upgrading their technical and customer service skills, in order to improve their chances of promotion and increase their value to the Tavern.

Some of the staff have responded to this initiative from Grace and have been appreciative that she had responded to their need for career development. Her focus on the team was shown by her efforts to make social times together and encouraging them to appreciate their successes together, particularly when working wedding functions where customer feedback was always excellent.

When asked about leadership, motivation and teamwork issues, Grace replied:
Leadership.
I believe people do want to work and give their best effort as long as the right work conditions are provided. If i can get them committed to their job by showing effective leadership, they will show responsible behaviour in the way they do their jobs.

I try to strike a balance between focussing on getting the work done and supporting the staff so that they can get the work done. Sometime its difficult to get the right balance but its always on my mind to keep on doing this.

I enjoy delegating to staff that are capable of accepting it as i believe they will embrace the responsibilities placed on them and show that they can rise to the challenge.

like involving staff when decision have to be made on operational issues such as rostering, improving service techniques, processes and training, methods of handling customer complaints, staff reward programs and incentives.

I also believe that in some instances, a leader is required to make a quick decision without consultation with staff. Ive done this on occasions when i was the only person who had the expertise to make the final decision.

I try to be flexible in the amount of control i have over staff and what i will or will not allow them to do by them selves. It all depends on their experience and attitude to the work that has to be done. Im still learning how to do this as wellsometimes it works well and other times, its not so effectiveIm still learning how to do this effectively.

Motivation
There is nothing more gratifying and motivating for me than to help establish a harmonious team where everyone successfully works together to achieve the goal or target. Employees are the most important part of the business and from my point of view, to ensure a well- motivated workforce, a manager should provide:
- Recognition for job performance
- Training for skills enhancement
- A pleasant work environment
- Opportunities for staff to socialise after work
- Opportunities for advancement, where possible.
These should be definitely done in addition to the usual work amenities such as pay, uniforms and breaks.

Team Work
Building an effective team takes a lot of work. A group of staff goes through a struggle when theyre adjusting to each other. I have to make sure they get through this with a minimum of disruption to the business.
We communicate a lot to make sure there is as little misunderstanding as possible when we are setting out the rules for team behaviour and the individual roles of the team members.
Finally, i try to get the team to set our team goals together rather than me just telling them what they are. I hope that doing it that way, they will be more likely to commit to the goals.

2 Applicant- Ronan Atkins

Ronan is in his early 30s and his CV includes the following:
In his early teens, he helped his parents to run their family-owned motel up in the middle north country of south Australia. He worked in all areas of the motel, including reception, kitchen, food and drinks service, housekeeping and general cleaning. During this time he worked at the base level under constant direction from his parents who were the driving force behind the business. He worked well the other employees but had no opportunity to act in a supervisory capacity.

In his late teens to early 20s, he successfully completed his Advanced Diploma in Hospitality Management. He moved away from hospitality service provision for a while but kept in touch with industry by becoming involved in Security and Crowd Control and obtained employment with a popular nightclub in Adelaide. In this role, he was given the role of senior crowd controller and his responsibilities included training and managing other crowd control staff, which he did in a very authoritarian manner. He behaved this way because he believed that was the only way to show his staff that he ws the boss and that his order were final. His staff usually performed their work well but it was noticeable to the management of the nightclub that there was a high turnover of crows control staff.

In his mid 20s to the present time, he obtained work as a waiter at the brewery restaurant and was later given the job of team leader by the restaurant manager. He got this position because he had a firm and no-nonsense approach to work. He was very focused on completing tasks and often said to his staff that his top priority was always to get the job done.

He also made it clear to his staff that he expected hard work from them and would be not be impressed by anyone who was not pulling their weight.
It was clear that Ronan was ambitious and was striving to impress the senior management of the caf. Consequently, he was mainly concerned about his own promotional prospects and did not show much interest in up skilling his staff or in their career development.
When asked about leadership, motivation and teamwork issues, Ronan replied:
Leadership
I believe staff need to be monitored at all times. If i can get them to be aware that they are being watched, they will perform in their job.

Getting the work done is always the main focus. There is just no time for this emphasis on getting opinions from staff and listening to their ideas before making decisions. I make it clear that i will always take full responsibility to research all information and than make the final decision on any issues to do with work. I think im protecting the staff by doing this because if anything goes wrong, then i can take full responsibility. Of course, if things go well then i will get the credit for it but think i should deserve that anyway as i di all the hard work by myself.

I dont really like delegating my work to staff, as im not sure if they can be trusted to do the work. After all, theyre busy enough with their own work. Thats why i dont involve them for ideas on operational issues, such as rostering and customer service issues.
I have tried to be flexible in the amount of control i have over staff but my experience has been that its much more time efficient to have all the control in my hands. All the time taken for discussions on issues means that jobs are not being done! After all, time is money isnt it? I use this total control approach regardless of how long staff have worked here, so that everyone is treated equally. Thats good, isnt it?

Motivation
Well, i certainly believe that staff need to be motivated to do their best work. Thats why i have weekly talks with them to remind them of the many benefits that this restaurant provides such as getting paid award rates, uniforms, car parking, proper breaks and fair rostering. I pay particular attention to make sure all staff gets enough shifts. I think thats probably the most important motivator for them as it gives them sufficient funds to pay their bills. Apart from that, i dont think they require much more to keep their motivation levels up.

Team Work
Like all things, any team needs a strong head to guide and give them direction. My team of staff know that im the leader and that my goals are their goals, therefore, we do have a shared vision. I have team meeting where i give individual staff positive and negative feedback on their performance. Im never happy about mistakes in customer service and i believe it is appropriate to highlight these in team meetings and make sure the staff member concerned is identified and make fully responsible from them. That way it never happens again!

Some may say that im a bit blunt in the way i criticize but believe honestly is the best policy! That way the job gets done and that is the most important priority for me and the management of this place, that is to get the job done.

I like staff to see me for support rather than rely on other staff members as they may get poor advice from others. I dont approve of staff spending too much time talking to each other as it wastes time and they may also engage in negative chat that lowers their motivation for work.

Usually, when new people join the team, i give them a quick one-hour induction and then expect them to fit into the team. They usually have at least one years experience in the industry, so i dont see any reason why there should be any issues with fitting into the team.

Develop a financial service company (like VESDIA Inc.) that provides a new product or service. Write a marketing plan for this company. Include the following:

Executive Summary
Your company
Your mission
What you sell
Keys to success
Macro Environment
SWOT analysis (strength, weakness, opportunity, treat)
Strategies
Marketing Objectives
Financial Objectives
Target Markets
Positioning
Research Approach
Marketing Mix
Place
Product
Promotion
Packaging
Price
Planning
Positioning
Sales Forecast
Sales
Strategies
Tactics
Budget Analysis
Conclusion

This paper should be approximately 25 pages typed double spaces. My professor is company of VESDIA Inc.?s Chief Marketing Officer (CMO), so you can use the ideal from that company but do not just copy from their writing. You can use the similar product or service but do not just copy it. Be careful about the plagiarism. Thank you~
There are some sources you can use to help you get the ideal below:
http://www.vesdia.com/

http://www.google.com/search?sourceid=navclient&hl=zh-TW&ie=UTF-8&rls=GGLD,GGLD:2005-11,GGLD:zh-TW&q=VESDIA

http://www.babycentersavings.com/corp/CORP_About.aspx

http://www.stockback.com/corp/CORP_About.aspx

I need an admissions essay for a masters program in Organizational Leadership. The essay should be a letter of intention outlining my professional goals and educational objectives for attending the program. As you can see from my resume below I have a great deal of leadership experience. I am interested in being a leader of a non profit organinization such as a school or foundation.

The program description is:
Concentration in Organization Dynamics and Leadership

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The ability to acquire new knowledge is a critical success factor for any organizations long term success. Managements willingness to create an environment of committed learning is essential so hard earned lessons and valuable experiences are fully used in achieving both long and short term goals. The real key to creating an environment of commitment is the consistent development of everyones leadership abilities in the organization.

Creating leadership abilities for individuals and groups in the organization requires specific leadership behaviors on the part of management. An environment of commitment cannot form if management just dictates to others what must be accomplished, issues orders or commands compliance. Leading is about creating an environment where individuals and groups allow reality to surface, establish clear expectations on actions needed, appreciate diverse opinions, confront roadblocks, identify and resolve performance gaps and innovate in a collaborative manner.

The starting point for helping others learn begins with the development of self.

Organization Dynamics and Leadership Program Focus

The program is designed to enhance your leadership capabilities by cultivating your ability to lead. Concentration addresses the critical leadership competencies facing those with the responsibility for initiating and executing strategic and operational goals.

Concentration is designed for busy adults who have a clear understanding of their educational objectives and wish to earn their masters degree without interrupting their careers.

The intended audience for the program includes:

- Project Managers - Military Officers
- Educational Leaders - Non-profit Sector
- Government Officials - HR Administrators
- Supervisors - Middle Management



Concentration is structured in an innovative, adult-oriented format that recognizes the multiple demands on working adults. Your valuable experience is maximized and combined with academic depth and reflection so models and concepts are connected to real world practice.


Organization Dynamics and Leadership Program Objectives (OPD)

Emphasize the leader as teacher by developing your ability to learn and value others knowledge and experience

Enhance your knowledge to successfully initiate / execute / implement strategic and operational goals by creating an environment that gets people energized and committed

Learn skills and knowledge to translate your vision, both professional and personal, into reality by broadening your comfort zone through self-assessment

Resume:
SUMMARY OF QUALIFICATIONS

Valuable combination of educational training, admissions, business, and athletic experience.
Strong communication skills.
Experienced in training staff, troubleshooting and coordinating educational, business, athletic and technical projects.
Experience in recruitment, outreach, fundraising, enrollment, tuition assistance and marketing programs.
Twenty years of business management experience and over 15 years of foundation experience.
Over twenty years experience of education and coaching.

PROFESSIONAL EXPERIENCE

THE HAVERFORD SCHOOL, Haverford, PA
Director of Admissions 1999 to present
Associate Director of Admissions 1995-1999
Organize, control and direct the overall admission process for prospective students grades JK-12. Manage the Admissions Team executing the schools recruitment and admission plan using creative, innovative and cost-effective marketing strategies to secure enrollment goals. Scope of position includes: Admissions-student recruitment and evaluation; Marketing, Tuition Assistance, and Enrollment Management.
Increased enrollment from 749-963 (Highest enrollment in Schools history)
Fostered positive relationships with external constituencies (Philadelphia and suburban public school guidance counselors, area educational associations), helping identify, recruit and increase the number of qualified students.
Achieved highest admissions yield amongst local independent schools in 2006, 82.4%.
Editor of Admissions Office First Annual Report in 2005.
Dramatically improved schools visibility through the implementation of comprehensive marketing plan.
Accomplished professional and department goals
Committees- Administrative Council, Finance, Admissions, Tuition Assistance, Development, Curriculum, Marketing Committee

THE HAVERFORD SCHOOL, Haverford, PA 1995-Present
Director of Tuition Assistance

Direct the allocation of tuition assistance funds. Provide strategic leadership that establishes effective and efficient delivery of tuition assistance awards maximizing retention and enrollment goals. Responsible for budgets, analysis and implementation of appropriate tuition assistance models. Scope of position includes: counseling families and students, demonstrated ability using technology for tuition assistance programs and services; research, analyze, develop and direct office processes and procedures to increase and improve operational efficiency; responsible for directing, training, supervising and evaluating office staff on tuition assistance policies and procedures; verify and document generated information used to determine eligibility for tuition assistance awards.

Allocated over $10.5M in grants the past 5 years, over $2.7M in 2006, highest in schools history.
Accountable for the overall operation of the Tuition Assistance Office, complying with NAIS financial aid regulations and good practices.
Collaborate with campus resources implementing additional grants for textbooks and meals

The Haverford School, Haverford, PA 1989 to 1997
Teacher History and Math- Grades 4-8

Planned and lead classes in math and history- Integrated curriculum into other subject areas.
Placed emphasis on computer competency integrating MS Word, Excel and PowerPoint
Grade level coordinator
Faculty Advisor
Curriculum Review Committee






Kevin P. Seits Page 2



EDUCATION/TRAINING

BA, Gettysburg College, Gettysburg, PA (1987)
Candidate in Executive Administration Program, University of Pennsylvania (Present)
Candidate in Fundraising Program, University of Pennsylvania (Present)
United States Soccer Federation A License (1993)
Advanced National Soccer Coaching Di[loma, National Soccer Coaches Assoc. of America (1997)
Independent School Managements Admission Program (1996)

PROFESSIONAL DEVELOPMENT

Curriculum Development Team Building Techniques Motivation Techniques
Classroom Management Technology Integration Marketing & Advertising
Recruitment & Retention Enrollment Management Standardized Test Evaluation
N.A.I.S. Conferences S.S.A.T.B. A.D.V.I.S. Facilitator and Presenter


COMMUNITY INVOLVEMENT
Owner/Director, Seits Incorporated, Shore Soccer Camp 19 years
Vice President, Evans Foundation- 1990- Present
President, Radnor Soccer Club Present
Director of Coaching, Radnor Soccer Club- 2004-Present
President, Southeastern Pennsylvania Soccer Association 1995-1997

ATHLETIC COACHING EXPERIENCE/ACCOMPLISHMENTS

College: Swarthmore College, Mens Varsity Soccer ssistant Coach- 1987.
-Assisted in Student Athlete recruiting and Admissions
High school: Haverford School, Head Boys Varsity Soccer 1993-1999
- Three Inter Academic League Titles 1995-1997
- Highest winning percentage for Boys Soccer in Schools history dating back to 1910.
-1997 Philadelphia Coach of the Year, 1996 Main Line Life COY,
1995 Southeastern PA Coaches Assoc. COY, 1996 Phila. Area Team Sportsmanship Award
Olympic Development Head Coach, Eastern Pennsylvania State Teams 1992-1997
-Numerous regional and tournament championships
Gettysburg College and Nether Providence High School Soccer- Team Captain and All Conference
Haverford School, Head Varsity Golf Coach 1999-2005
-Five Inter Academic League Titles

COMPUTER SKILLS

MS Office (Word, Powerpoint, Excel, Publisher), Photoshop, Senior Systems Admission Program, Comp Assist Tuition Assistance Program

Budgeting is an important internal activity. Preparing budgets involves forecasting sales and estimating costs. For this SLP, you will prepare a flexible budget for next year for the company of your choice. The budget needs to be realistic and based on corporate and economic trends.
Companies prepare budgets based on absorption and/or variable costing. Due to lack of information, we're limiting our budgeting to the absorption approach. Don't forget that the presentation of the information is important.
Set up the flexible budget showing three different growth rates. Use the financial statements and do research on the company of your choice to determine growth trends. Explain your estimates and prepare a flexible budget showing the low, the average, and the high revenues and adjust all other line items in the income statement to reflect the revised revenue assumptions.
? What is the growth rate in sales for the past three years?
? Are revenues and expenses growing at the same rate? What was the experience in the past few years?
? What is the current growth rate in the economy?
? How are the competitiors doing?
? Current interest rates and tax burdens.
Discuss the implications of the information after you have completed the flexible budget.
? How does the flexible budget differ from a static budget?
? Budgets are used for planning and control. Discuss how you can use the information derived for these two purposes?
? Comment on using this information for performance evaluations.
SLP Assignment Expectations
Always include the name of the organization(s), time period covered, and source of information. It is important to answer the questions as posed. The document should be 2 to 4 pages and written in a clear and concise manner. Don't forget to include tables as required. Support your discussion or tables with references in APA format. You are encouraged to use Excel or other compatible spreadsheet when computations are involved. You can turn in the spreadsheet instead of the Word document. The content should be equivalent to the page length suggested for a word processing document.

Budget Management Analysis Resource: Grading Criteria: Budget Management Analysis

Write a 1,200-word paper, which includes a cost variance, in which you complete the following:

? Determine specific strategies to manage budgets within forecasts.
? Compare five to seven expense results with budget expectations, and describe possible reasons for variance.
? Recommend three benchmarking techniques and identify those that might improve budget accuracy in future forecasts. Justify your choices.

Format your paper consistent with APA guidelines.

Budgeting is an important internal activity. Preparing budgets involves forecasting sales and estimating costs. For this SLP, you will prepare a flexible budget for next year for the company of your choice. The budget needs to be realistic and based on corporate and economic trends.

Companies prepare budgets based on absorption and/or variable costing. Due to lack of information, we're limiting our budgeting to the absorption approach. Don't forget that the presentation of the information is important.

Set up the flexible budget showing three different growth rates. Use the financial statements and do research on the company of your choice to determine growth trends. Explain your estimates and prepare a flexible budget showing the low, the average, and the high revenues and adjust all other line items in the income statement to reflect the revised revenue assumptions.
?What is the growth rate in sales for the past three years?
?Are revenues and expenses growing at the same rate? What was the experience in the past few years?
?What is the current growth rate in the economy?
?How are the competitiors doing?
?Current interest rates and tax burdens.

Discuss the implications of the information after you have completed the flexible budget.

?How does the flexible budget differ from a static budget?
?Budgets are used for planning and control. Discuss how you can use the information derived for these two purposes?
?Comment on using this information for performance evaluations.



Modular SLP Assignment Expectations

Always include the name of the organization(s), time period covered and source of information. It is important to answer the questions as posed. The document should be from 2 to 4 pages and written in a clear and concise manner. Don't forget to include tables as required. Support your discussion or tables with references in APA format. You are encouraged to use Excel or other compatible spreadsheet when computations are involved. You can turn in the spreadsheet instead of the Word document. The content should be equivalent to the page length suggested for a word processing document.

Budgeting and Finance Uncovered and Applied

The three traditional sectors of the United States economy?government, nonprofit organizations (NPOs), and for-profit organizations?are similar in terms of financial and fiscal responsibilities. But while financial functions (e.g., strategic financial planning, accounting, etc.) largely are the same in these organizations, the public sector has unique characteristics that impact finance and budget administration. For example, public organizations are accountable to citizens and, sometimes, to higher levels of government. Therefore, the budget process includes and involves these two sets of stakeholders.

In this assignment, you will consider how finance and budgeting theories and concepts apply to a specific public organization.

To prepare for this assignment:
Select a public organization with which you are familiar?or of which someone you know is a part?for use in this assignment.*
Reflect on the budget and finance theories/concepts you read about and relate them to this specific organization. Consider how the various finance and budgeting concepts play out in the organization.
With these thoughts in mind:

Write a brief description of a public organization with which you are familiar. Then explain how you might apply at least two basic finance and/or budgeting concepts or theories to the organization. Be sure to provide brief descriptions of each concept or theory and specific examples of how you might apply them.

Be sure to support your response with specific references to the resources

Budget Management Analysis

? Write a 1,100- to 1,500-word paper, which includes a cost variance, in which you complete the following:

* Determine specific strategies to manage budgets within forecasts.

* Compare five to seven expense results with budget expectations, and describe possible reasons for variance and strategies to keep results aligned with expectations. (Worth 4 points)

* Recommend/descrbe three benchmarking techniques and identify those that might improve budget accuracy in future forecasts. Justify your choices. (Worth 4 points)

? Format your paper consistent with APA guidelines.(worth 2 points)


Please use Stevens Hospital in Washington, they have their financials on line and they include actual and budgeted numbers, please use July 2010.

The assignment is worth 10 points:

Need this is WORD document please

Budget Management Analysis.
Includes a cost variance which complete the following:
Determine specific strategies to manage budgets within forecasts.
Compare 5 expense results with budget expectations, and describe possible reason for variance.
Recommend 3 benchmarking techniques and identify those that might improve budget accuracy in future forecasts.
Justify your choices.

* will email sample data (Thomas Jefferson University)
* request writer paulsolo3414, if possible

Budget Proposal
Obtain a copy of an agencys budget and the agencys mission statement. Keeping in mind the mission and research that you have done about the agency, identify a change, which you think would improve the agencys effectiveness and help it to obtain its mission. The total for the proposal cannot exceed $1,000,000.
Write a proposal that includes the following information about the agency and the proposal.
1. Agency name
2. Proposal name
3. Identified need ??" demonstrate the need for the proposal
4. Description ??" explain how the program would function when implemented
5. First year costs (with detailed explanations)
6. Future year costs (FY 2 to FY 5)
7. Measure of success
8. Required changes

There are faxes for this order.

Customer is requesting that (Gibbs) completes this order.