Toy World, Inc. Case Analysis Essay Example for Free

Toy World, Inc. Case Analysis Essay Executive Summary Toy World, Inc. is a company that has been manufacturing toys for children since 1973. Since 1976, the company has enjoyed profitable operations. At the end of 1993, revenue and profit came close to $8 million and $270 thousand respectively. With Jack McClintock as president and Dan Hoffman as production manager, the two have tried to find a strategy to adjust operations to the volatility of the toy market. Sales in the toy market are seasonal, reaching peaks in the months of August through December, while remaining relatively flat during the remaining months of the year. This seasonality has affected the company’s production schedule. During the off season, inventory is low, skilled workers are underutilized, and machinery is left idle. When the busy season finally arrives, Toy World is forced to hire more workers, pay additional overtime wages, and operate at full capacity. Dan Hoffman sees inefficiencies in this schedule and proposes a level production plan that would eliminate overtime wages and fully utilize skilled workers. Under his plan, toys would be manufactured evenly every month, allowing inventory levels to build in the months leading up to the holidays. In addition to using cash, the company must also take on additional loans to compensate for the high inventory levels. In an industry that has relatively low capital requirements, Hoffman’s strategy may increase overall profitability, but it jeopardizes the company’s liquidity. 1. What factors could Mr. McClintock consider in deciding whether or not to adopt the level production plan? The main factors Mr. McClintock should consider when deciding whether or not to adopt the level production plan comes down to the trade off between liquidity and profitability. Given the  highly seasonal nature of the industry, producing goods ahead of time has strong risks associated with it. If management’s projections are incorrect, the company could incur significant inventory write-downs or write offs. Additionally, the company will incur extra costs of storing the inventory that will accumulate in the first half of the year. Further, Mr. McClintock should analyze the differences in amount and timing of the company’s external funding needs under the level production plan, and whether or not the financing needs can be met by the current credit line of $2 million. To assess the impact of these factors, we prepared pro forma financial statements under level production. 2. What savings would be involved? The savings involved in leveling production include reductions in overtime premiums as well as a decrease in additional labor costs. Expenses involved in this production overhaul include increased shipping and handling expenses and an increase in interest expenses. Both of these expenses are a result of having increased inventory levels. Total savings less total expenses from the new production strategy results in positive net savings of $148,000. See Exhibit E. 3. Prepare the pro forma financial statements and estimate the external funding needs required. Income Statement In preparing monthly statements under the level production plan, several adjustments were made to management’s original projections (Exhibit A). Given the annual savings in overtime premiums as well as direct labor, cost of goods sold under level production would be reduced from a constant 70 percent of sales to 65.1 percent of sales. However, this is slightly offset by the annual increase in storage and handling costs, which is accounted for in operating expenses. To determine the interest income, we multiplied the average monthly cash balance by the 4 percent annualized return provided by management. Income taxes remained at 34 percent, arriving at a total net income of $661 for 1994. Balance Sheet The most significant adjustments made to the balance sheet were under inventory, accrued taxes, and notes payable. As is depicted in Exhibit B, we prepared schedules for both accrued taxes as well as inventory. Management provided a specific tax payment schedule, which was subtracted from each month’s income taxes to arrive at ending accrued taxes. As for inventory, beginning inventory plus finished goods completed less cost of goods sold determined each month’s ending inventory. Under level production, the finished goods completed should be constant month over month. We determined this number by dividing the annual cost of goods sold by 12. Finally, notes payable was our plug figure. As this line item represents the company’s existing credit line, it can be further analyzed to assess the company’s amount of added funds required and the timing of the needs under level production. External Funding Needs Toy World Inc. will require large external funding in order to support inventory levels leading up to the holiday season. Toy World currently has a $2 million line of credit with the bank. In order to support the level production plan, we estimate that Toy World will need a line of credit of close to $4 million in the month of September. 4. Compare the liabilities patterns feasible under the alternative production plans. What implications do their differences have for the risk assumed by the various parties? Under the alternative production plans, the timing and amount of funding that Toy World will need to keep up with inventory projections significantly differs. For example, in June, due to the lags of the 60-day collection periods, strong funding will be needed to keep up with the level production. If management moves forward with the current seasonal production plan, they would not take on the further liabilities and maintain lower cash balances in the busy months of September to December. The most significant tradeoffs of the two scenarios are between liquidity, profitability and leverage. If the toys ended up not being as popular as they forecasted, then the various parties would take on the risk of the rising inventories. Toy world would  then have to decide whether or not to hang onto the excess inventory in anticipation of increased demand, or rid themselves of inventory to increase working capital. Either way, this risk, if came to fruition, would be a lose-lose situation for if they hold onto it and demand doesn’t bounce back, then they lost some working capital, but if demand does bounce back, and they have gotten rid of the inventory, they will find themselves unable to keep up with demand. Also, the industry has relatively no barriers to entry so taking on more debt in this volatile industry to increase inventories would be risky as products have short lives and a relatively high rate of company failures. Sensitivity Analysis Given the inherent risks associated with producing toys significantly ahead of time, we decided to conduct a sensitivity analysis around this factor (Exhibit D). Specifically, we assessed the impact of writing off 10 percent of the prior month’s inventory balance. This change would be reflected as a direct reduction in inventory, as well as a corresponding increase in cost of goods sold, resulting in a 382 percent decrease in net income from seasonal production. While 10 percent of total inventory write downs is an extreme downside situation, the key take away is the importance of how accurate management’s projections are. In a level production plan, management will have to begin producing for peak sales periods early on in the year, greatly increasing the risk of inaccurate projections. Therefore, one of the most critical considerations in adopting level production is the confidence in management’s ability to accurately forecast industry trends. Conclusion Despite past profitability and success, our analysis shows that Toy World, Inc. could benefit greatly from an operational restructuring. Adjusting their business model to implement a level production plan in 1994 as opposed to past seasonal production will result in a positive impact on the company’s profitability. However, in order to implement these changes, Toy World, Inc. will need an extension on their line of credit. Further, our sensitivity analysis shows the importance of having strong confidence in management’s projection ability. If the company believes that their  projections will be accurate enough to avoid significant inventory write offs, and can obtain approval for an extension in the line of credit, transitioning to a level production plan will greatly improve profitability and operational efficiency.

It’s Time We Learn to Listen to Our Bodies Essay -- Health Nutrition D

It’s Time We Learn to Listen to Our Bodies Christine is my best friend. She is the kind of person anyone would love to know. She has the most wonderful personality. She is always there for me and knows just the right things to say. She is giving and caring to anyone she comes in contact with. She is helpful, understanding, and overweight. Like most women who struggle with their weight, she has tried every diet available and none have worked successfully. I see her fight this constant battle and feel her disappointment when she fails. Food is a consuming factor in her life and that is where her problem lies. To lose her weight and keep it off, she must learn to listen to her body's cues and eat when, what, and how much it asks for. Most weight problems start in early childhood. Babies are not capable of overeating. They want to eat when their bodies are hungry and they eat until their hunger is gone. Parents don't realize that they start creating bad habits in their children when they limit their baby's food intake or constantly shove bottles at them whenever they cry. As a c...

How is God Related to Sufferings in Psalms and Job? Essay

The book of Psalms and the Book of Job are both parts of the bible that share stories of sufferings, faith and worships. The book of Job was written more than 2,500 years ago which relates the story of Job. Job was a good man and dearly loved by God but in the end must suffer to test the strength of his faith. Since Job believes he is not forsaken by God he trusts everything in the hands of God. One day God thought of testing Job’s faith if it is enough to carry him through the trials he would bestow on him. He asks Job what he knows about Him being his God. Job did not fully satisfy God with his answers although God knows what is inside his heart. But God wants to know the extent of Job’s faith to Him and thought of a plan to test Job’s faith. One day great numbers of insects attack Job’s crops and ate almost every plant he has. Rain did not come and he could not till his land. Then he starts to wonder why despite his closeness with God things like these could happen. He tried to talk to God but God does not answer. Falling to starvation he became terribly sick and begged for God’s help but God is nowhere to be found. When he felt that everything is hopeless and was about to die, he called again to God and ask why he was being forsaken and abandoned. He looked into the heaven and said despite he was forgotten by God, his faith still remained in him. Suddenly God touched him and he quickly regained his strength. God told him that he let these things happen to make Job realized that it is only through suffering and trials that a man will prove his faith in him. That he has not really abandoned him but was with him during the time he was suffering. God has to do things to Job to test the strength of his faith. Job did not leave his faith and so he reaped the love of God even more. That is why God is related to the suffering in this book as a way to test Job’s faith and remained to it even during the time of great suffering. This gives us the lesson that regardless of the suffering we have God will come to our aid as long as we keep our faith to him (Society, 2008). If the Book of Job tells the story of the suffering and strength of faith in God, the book of Psalms were collections of songs of prayers and praise. This book was written by the Hebrews who believe in the might and love of God. A Psalm is a poem that is accompanied by musical instruments and so they are actually poems that have been made into songs. David was mainly the composer of the songs on Psalms which he sang with his harp. There are different kinds of Psalms and all were originally written in Hebrew. Hebrew alphabet is composed of 22 letters and an alphabetical Psalm starts its first verse with the first letter of the alphabet, the second verse begins with the second letter and so on. These Psalms were the hallelujah, thanksgiving, praise, historical, penitential, imprecatory and messianic psalms. Among these Psalms that are related to repentance are the penitentiary psalms which confess the sins of man, the Imprecatory Psalms which tells us how God is angered by sinners and how he will judge them and the messianic psalms advises us about the coming of the Messiah (Books, 2008). Theologians provide explanation on the Book of Psalms that is now within the New Testament. According to them we as people may also experience suffering the same as Jesus Christ had suffered in the cross. But our suffering should not be believed as punishment for the sins we made but to strengthen us and ready us for a more harmonious destination. In Psalm 3, David has suffered the consequences of his sin with his adulterous relationship with Bensheba. He relate this suffering into a poem and then it became one of the collections of songs. In Psalm 119:68, 75 indicate that suffering befalls to us to see the goodness, righteousness and the strength of our faith with our God. Many songs within the Book of Psalms indicated the suffering of man we face as Christians. In Psalm 22, there are also Psalms that questions God and why do we need to suffer. And so God is related to suffering in the Book of Psalms to tell us through the songs that we should not sin and be righteous so that we will be blessed (Futato,1999) . References Society, A. B. (2008). Why Does God Allow Suffering? Journal. Retrieved from http://www. bibles. com/absport/news/item. php? id=102 Books, O. T. (2008). Chapter 7: Job and Psalms. Journal. Retrieved from http://www. middletownbiblechurch. org/oldtesta/oldtes7. htm Futato, M. D. (1999). Suffering As The Path To Glory. Journal. Retrieved from http://www. pressiechurch. org/Theol_2/suffering_as_the_path_to_glory. htm

Math Mayan Calendar Essay

The Mayan Calendar is a system of calendars in Pre-Columbian Mesoamerica, in modern communities in highland Gautemala, in Vercruz, Oxaca, and Chiapas, Mexico. The calendar is filled with mathematics and a huge math system, but it is not exactly like the math system we use today. The math system hidden inside the Mayan Calendar is called the Vigesimal System. How does the Vigesimal System work? The numbers represent what symbols in the math system? This things have been in the question a long time we still are studying the Mayan Calendar to this day; which was made approximately 5,000 years ago.The Vigesimal System began by the people in the Mayan civilization counting on their fingers and toes. Since we have ten toes and ten fingers which equals twenty, so instead of having the base unit as ten, the count was done with a base twenty system. The System goes by twenty units for example it goes: 1, 20, 400, 8000, 16000, etc. While are Decimal system goes by ten units so it goes: 1, 10, 100, 1000, 10000, etc. This means it has twenty posibble digits for a placeholder [0-19], while the decimal system we use today only has ten possible digits for a placeholder [0-9].So the numbers 3, 30, and 300 would be represented as three, then three times twenty, then three times twenty times twenty, or simply three times four-hundred, which is twenty squared. So in Mayan math the number 123 doesn’t mean you have one 100, two 10’s, and three 1’s, rather it means you have one 400, two 20’s, and three 1’s (which in our mathematical system that would be 443). So say we want to set up an equation and we set thirty-one equal to something and we used the Vigesimal System, it would look like this: 31=20+11, and this is because this mathematical system goes by twenty units.The Mayan math makes it so instead of positions having a ten-fold, it actually has a twenty-fold. So the positioning system has it so the higher places get multiplied by twentyâ€℠¢s instead of ten’s. Even though it seems like twenty is the only number that the Vigesimal System deals with, it is not, the number five also has a big role. This is because eon each side of our hand and toes we have five fingers and toes. The number five is a multiple of the twenty base unit system, so that adds on to the number five’s significance.Located inside this big mathematical system you only find three symbols for all the numbers. These symbols once again are based on the fact that the Vigesimal System is based on twenty units [0-19]. The three symbols are the dot, bar, and the shell. The dot-worth one unit, the bar- worth five units, and the shell- symbolizes the zero. The zero was actually founded by the Mayan people while in the process of making the Mayan Calendar and is one of the most important numbers that were ever distinguished. These symbols can be combined to represent any number.This Chart below is going to show how the symbols are used to repres ent the twenty placeholders [0-19]: When you use the Vigesimal System there is a rule that only the higher places get multiplied by twenty’s instead of ten’s in the Decimal System we use. In the table below the number 168,421 is going to be compared in the terms it would be expressed between the Decimal System and the Vigesimal System.When writing the numbers they can be written vertically or horizontally, When you write in vertical writing the bar that is worth five units is placed horizontally with a dot worth one unit on top of the bar. When writing them vertically they grow from the base up. With the horizontal writing the bar is placed vertically and the dots go to their left and higher positions grow left of the first entry. When writing vertical, to write a twenty a zero is placed in the first position (base) with a dot on top of it in the second position. The dot in this situation means one unit of the second order which will equal twenty. To write twenty-one t he zero would change to a dot and the subsequent numbers the original 19 count will be in the first position. As in turn they reach 19 again they get another dot is added to the second position.Any number higher than nineteen units in the second position is written using units in the third position. All units of the third position are always worth twenty time twenty, 400. To write the number 401 a dot would go in the first position, a zero in the second position, and a dot would go in the third position too. The numbers even higher than the third position would be multiplied by twenty again. The chart shown below shows an example of the â€Å"Mathematical Count†: Like any other thing the â€Å"mathematical count† does have one exception, it is called the â€Å"calendric count† which is when they give the third position a value equal to 360 instead of 400, but the higher positions follow the regular pattern, being multiplied by twenty.The Mayan Long Count inside the Mayan Calendar is another thing that evolves aroung the Vigesimal System, so it is based around the twenty units. The first position counted single days, called â€Å"k’in†. The second position is called the â€Å"uinal, which is equivalent to twenty â€Å"k’in†. The twenty â€Å"uinal† does not equal the third position; it makes an 18-fold jump instead so that 100 or â€Å"tun† in the calendar represents eightenn times twenty or 360 days. That is slightly over 365 days which is the amount of days we have in a year.This then makes a twenty-fold jump increase, so 1000 or one â€Å"k’atun† is expressed by the value 20 x 18 x 20, 7,200 days; which is a little less than twenty years. The next position is expressed by 20 x 20 x 18 x 20, 144,000 days which equals one â€Å"b’ak’tun†, a little less than 400 years. When using the Decimal System, they go as high as 9, but in the Vigesimal System  they can go all the way up to 19. So mathematically when we write Mayan numbers we use decimal points to show each digit’s position. We write 1.17.19 to represent the Mayan number that equals one â€Å"tun† (360 days), plus seventeen â€Å"uinal† (20 days), plus nineteen â€Å"k’in† which has a total of 719 days. The Mayan Long Count only reached 12.19.19.17.19 on December 20th.The way the Mayan people made this calendar with the Vigesimal System was one of the most incredible things ever. Them using the twenty based system has made a lot of research been done to investigate the math held inside the Mayan Calendar. Being able to use math 5,000 years ago has shown some determination and intelligence. The math held inside this Mayan Calendar may have made the whole world change, and the mathematics of the Vigesimal System hidden in the Mayan Calendar has shown how math can change the world. It also shows how math is used in everyday life and how if people were n ot using math a lot of things would not be here to this very day and it shows multiple ways math effects people in their everyday life.

How to Craft an Exploratory Essay on the Kite Runner by Khaled Hosseini

How to Craft an Exploratory Essay on the Kite Runner by Khaled Hosseini Welcome to our third and final manual: informative guide for an exploratory essay on The Kite Runner by Khaled Hosseini. Here, you will learn how to properly write an exploratory essay, how it’s outlined and some dos and don’ts that will help you write a stellar exploratory essay on the Kite Runner by Khaled Hosseini. We already discussed some topics in our guide 20 exploratory topics on The Kite Runner by Khaled Hosseini earlier, and facts in our 10 facts on The Kite Runner by Khaled Hosseini guide. Now, let’s look at how to write an essay on this subject. The Purpose of an Exploratory Essay If you’ve worked on argumentative assignments in the past, you’ll find that an exploratory essay is a bit different from an argumentative essay. In fact, exploratory essays are distinctive from other essay cores out there. Unlike other essays, where you convince the audience with regard to the validity of your thesis or gaining approval on your point of view, exploratory essays introduce problems you’ve discovered in a particular object, book, film, subject, etc. Sometimes, you need to form explanatory conclusions on how the problem can be solved. In order for your exploratory essay to turn out well, you need to keep in mind that it should be retrospective to your writing and introspective to your thoughts. An exploratory essay follows the standard structure to writing an essay, however, it is different in context, which is as follows: How an exploratory essay is written: The Introduction First of all, you should write an overview of your exploratory essay. In your first paragraph, you should outline the problems, its significance, and a brief discussion of the problem’s root causes, the institutions or people involved in it, and some possible solutions to the problem. There is no harm in including the source you’ve used as part of your research. Body Paragraphs Here is how the body of an exploratory essay is written: In the first few paragraphs, you write about the introduction of your source and the reason behind choosing this source as a means of your exploration process. Between the first and last paragraphs, you discuss the information that you’ve found during the exploration process and the information which defines the problem you’ve found. You also discuss the importance of this information and how it’s related to the problem you’ve unearthed. In the final paragraphs, you bring your introspection into play – how the exploration helped you think differently and sort out the problem or, in some cases, led to other sources. Conclusion The conclusion is roughly the same in every essay. You have to reinstate your thesis, review the problem and people or institutions involved and highlight possible solutions to the problem. However, if you haven’t found any solutions and there are a plethora of questions to be answered, it’s recommended that you discuss them here. Be sure to include the sources where you would have looked and other forms of research necessary to find the solution to the problem. That’s it! Now you are ready to write a brilliant exploratory essay on The Kite Runner by Khaled Hosseini. If you have any other inquiries related to this topic, feel free to reach out to us – we are here to help you in any way we can.

Ipso, Meso, and Peri Substitutions in Organic Chemistry

Ipso, Meso, and Peri Substitutions in Organic Chemistry   The prefixes ipso-, meso-, and peri- describe ring substitutions in organic chemistry. They are part of the IUPAC nomenclature used to specify the position of any non-hydrogen substituents in an aromatic hydrocarbon. Ipso Substitution The ipso- prefix is used when  two substituents share  the same ring position in an intermediate compound. This could occur  in an  electrophilic aromatic ring substitution. Meso Substitution The meso- prefix is used when  substituents occupy a  benzylic  position when the  first carbon covalently bonds  adjacent to a benzene or other  aromatic  ring. It is seen in acridines and calixarenes. PeriSubstitution The peri- prefix is used to describe substituents at the 1 and 8 positions. It is seen specifically in naphthalenes. In addition to ipso, meta, and peri, there are two other ring substitution patterns you may encounter. There is the ortho, meta, and para substitution and the cine and tele substitution. Cine and Tele Substitution In the cine- substitution, the entering group is positioned adjacent to the one that was occupied by the leaving group. This is seen in aryne chemistry. In the tele- substitution, the new position of the entering group is more than one atom further away on the aromatic ring.

Fly Dubai Airline Essay Example | Topics and Well Written Essays - 1750 words

Fly Dubai Airline - Essay Example Reference is made, as an example, to a specific company, the Fly Dubai airline. The above firm’s services are described and evaluated so that the concept of quality of services, as applied in modern firms, is fully understood. 1.2 Service firms, description and types The key objective of service firms is the provision of services of various types to the public. Different criteria have been used in the literature for describing service firms. According to Faulkner & Campbell (2006) service firms ‘are concerned with providing customers with an experience’ (Faulkner & Campbell 2006, p.504). Moreover, Jin (2005) notes that the service firms represent a high percentage, about 60%, of ‘the markets of developed countries’ (Jin 2005, p.37). ... The first category incorporates those firms providing services directly to the consumers, such as a hairdressing; the second category incorporates a high range of service firms, including firms offering legal, accounting or advertising services (Onkvisit & Shaw 2004, p.300). 2.0 Fly Dubai airline 2.1 Profile and business activities of the company Fly Dubai is a low cost airline based in Dubai (Fly Dubai 2012). The firm was established in 2008 (Fly Dubai 2012). The firm offers a wide range of destinations, including India, Kuwait, Syria, Egypt and Jordan (Fly Dubai 2012). Recently, the firm ordered 54 new aircrafts, which, along with the firm’s existing aircrafts, will help the firm’s fleet to significantly increased (Fly Dubai 2012). 2.2 Quality of service delivered by the company In Fly Dubai, the quality of services is among the organization’s objectives. Still, failures have not been avoided. According to a Customer Scoring published by SkyTrax in 2012, Fly Du bai is scored with 6.7 out of 10 in regard to the quality of its services (Figure 1, Appendix). Different reasons are used for justifying the above score: for example, one of the customers, the first in the list of customers participated in the relevant scoring, highlights the delay in departure as one of the firm’s major problems (Sky Trax 2012); himself, he faced a delay of 5hrs when decided to travel using Fly Dubai (Sky Trax 2012). Another customer, 5th in the list, notes that customer service in Fly Dubai is ‘non-existent’ (Sky Trax 2012). Again, the delay in departure, as resulted to the missing of the connection flight, is highlighted as the firm’s key problem (Sky Trax