Grade Retention Essay example -- essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  Grade retention, better known as â€Å"staying back†, â€Å"being held back† or â€Å"repeating†, has been the topic of much debate within the educational system. The controversy which surrounds this long-standing issue has been reinforced by such topics as the recent endorsement of academic standards. Research indicates that â€Å"the rate of retention has increased by approximately 40% in the last 20 years with as many as 15% of all American students held back each year and 30-50% held back at least once before ninth grade† (Dawson, 1998). These discouraging statistics pose copious problems within a school system. The difficulties can be appreciated at the organizational level, as well as inside the classroom and, most troubling, within the individual students. The consequences, both positive and negative, reverberate throughout the school system. Grades retention is an issue which requires a prodigious amount of examination and shou ld be considered carefully and thoroughly.   Ã‚  Ã‚  Ã‚  Ã‚  Formally, grade retention is defined as the practice of requiring a student who has been in a given grade level for a full school year to return at that level for a subsequent year (Jackson, 1975). Unofficially, the practice is employed as a tool to enhance the academic or developmental growth for students who are unable to meet the curriculum requirements due to a variety of reasons. These reasons can include decreased cognitive functioning, physical immaturity, social-emotional difficulties and failure to pass standardized assessments. A child may be considered for retention if he has poor academic skills, is small in stature, is the youngest in the class, has moved frequently, has been absent repeatedly, does poorly on prescreening assessments or has limited English-language skills (Robertson, 1997). Additionally, the typical profile of a retained child is more likely to reveal an elementary school-aged student who is a black or Hispanic male with a late birthd ay, developmental delay, attentional problems, low socioeconomic status, single-parent household with a parent who either does not or cannot intervene on behalf of the child (Robertson, 1997; Mattison, 2000). Also seen in retained children are the predictive health factors of hearing and speech impairments, low birth weight, enuresis and exposure to cigarette smoke within the home (Byrd... ...ommended, what should parents do? ERIC Clearinghouse on Elementary and Early Childhood Education. Champaign, IL. Parker, Dennis R. (2001). Social promotion or retention? Leadership, 30 (4),12-16. Jackson, G. (1975). The research evidence on the effects of grade retention. Review of Educational Research, 45, 613-635. Holmes, C. T. (1989). Synthesis of recent research on nonpromotion: A five-year follow-up. Paper presented at the Annual Meeting of the American education research Association, San Francisco, CA. Natale, J. A. (1991). Rethinking grade retention. Educational Digest, 56 (9), 30-34. Slavin, Robert E., Karweit, N., & Wasik, B. Preventing early school failure: What works? Educational Leadership, 50 (4). Darling-Hammond, Linda. (1998). Avoiding both grade retention and social promotion. The School Administrator, 48-53. Byrd, Robert S., & Weitzman, Michael L. (1994). Predictors of early grade retention among children in the United States. Pediatrics, 93 (3), 481-488. Mattison, Richard E. (2000). School Consultation: A review of research on issues unique to the school environment. Journal of the American Academy of Child and Adolscent Psychiatry,

Incarceration of African American Males Essay

Introduction The trend of African American males between the ages of 25 and 29 has seen a dramatic increase of incarceration. Attention has been focusing on areas of housing, education, and healthcare but the most prominent problem for African American males is the increase in the incarceration rate. African American males between the ages of 25 and 29 incarceration rate has been thought, by many, to be caused by economic factors such as under employment or unemployment, poor housing, lack of education, and lack of healthcare. Yet, others believe it is due to the imbalance of minorities within the criminal justice system, such as judges, lawyers, and lawmakers. This paper will explore two different outlooks; society has come up with so far, as to why African American Males between the ages of 25 and 29 are increasingly incarcerated. Finally, the information will give awareness to the problems that is faced by African American Males between the ages of 25 and 29. Prevalence – Problem 1 More than 40% of all American prisoners, men and women, are African American men, yet they make up just 13% of the U. S. male population (Roberts, 2004). This statistic does not include those African American men who are in local jails nor does it include those African American men under custodial supervision (Table 2). They enter the state and federal prison system, at the prime of their economic and reproductive lives and yet they exit prison behind both economically and socially. The high rate of incarceration among African Americans has been noted by the interconnection of poor economy, lack of affordable housing, mental illness, substance abuse, domestic violence, absence of a strong black male role model, lack of access to education, or some type of combination of these factors. Statistics don’t even give African American males a good chance to stay out of jail. They have a one in four chance of being incarcerated, while Hispanic American males have a one in six chance, and white males only have a one in twenty three chance of incarceration. The color of African Americans sets them apart and makes them targetable. Prevalence – Problem 2 There is evidence, in our American Justice System, of structural inequality as seen in the percentages of minorities to the percentage of majorities employed in high ranking positions, within the system. The percentage of United States judges by race are 79% Caucasian, 12% African American, and 2% Hispanics American (Federal Judicial Center, 2012), as for the thousands of lawyers in the United States it is approximate of 3% are African American (National Law Group, 2010-2011), and about 1 in 4 police officers are members of a racial or ethnic minority in 2007 (Bureau of Justice Statistics, 2013). An investigation into racial profiling showed that African American and Hispanic American offenders, who often are young unemployed males, are more likely than their white counterparts (Spohn, C. , 2000). Their prison sentences are also typically longer or they receive differential benefits from guideline departures than do similarly situated white offenders (Spohn, C. , 2000). We must acknowledge the problems of racial disparity within the criminal justice system, communicate racial disparity within the criminal justice system with those we who are not informed of the problem, and stay committed to changing racial disparity within our justice system for change to begin. Causes In researching the high rate of incarceration in America it is more likely than not that the increase in African American Males being incarcerated is due to the War on Drugs (Table 1). It is public knowledge that drug crime ranks high among the effects of poverty. These poor neighborhoods not only endure crime they have poor schools, poor food, cramped living areas, and shortage of jobs if any jobs at all. Drugs and drug crime has become regularity in low income communities, arrests of Hispanics made up 55% of cocaine powder offences and 52% of marijuana offenses and 49% involving opiates: African Americans were suspected in 75% of crack cocaine cases; White males were suspected in 41% all methamphetamine cases (Motivans, M. , 2011). Decades of failed public and private remedies for chronic disparities and disadvantages in communities of color invite us to reexamine systems and institutions that provide and restrict opportunity in new ways (Lawrence, K. , 2011). The causes seem to be intertwined being poor equals, equals a poor education, equals lack of employment, and ultimately equals an increased rate of crime. Consequences The causes seem to be intertwined being poor, equals lack of education, which equals lack of employment, which equals increased rate of crime which equals impossibility to join criminal justice system. Also, many of these men are incarcerated while all the other non-incarcerated American young men are finishing school, starting careers, earning seniority at work, marrying and having children thus gaining capital. Even when released from prison, these men return back to their communities with a felony record that will pose extreme problems for them. The incarceration leads the released convict into a lower social class even if they were considered lower class Americans prior to their incarceration; they now are lower in social class standing in most instances. This leads to a poor African American community, perhaps as many as 50% of the male population will have been in prison. These incarcerated African American Males, who are in their prime of life, also are leaving half the families in this community facing such things as poverty, lack of affordable housing, mental illness, substance abuse, violence, absence of a strong black male role model, lack of access to education, or some type of combination of these factors. The community ultimately will become poverty stricken, struggling to survive, and ultimately vulnerable to the situation repeating. Solutions – How can this be changed? There are four key aspects to addressing racial disparity, in my opinion: 1. Acknowledge 2. Communication 3. Setback = Strength 4. Commitment Not only is the problem of racial disparity under recognized by society it is not being communicated effectively to make change. Majority groups needs to acknowledge racial disparity and minority groups need to communicate their knowledge regarding racial disparity. As each group majority and minority begins to become share their information with each other and work together for a common solution acknowledging there will be setbacks but with continued commitment systemic change will happen. Conclusion By refusing to tolerate disparate treatment of people of color or anyone within the criminal justice system we empower ourselves and our country. It is time that everyone including our legislators, law enforcement, prosecutors, defense attorneys, and judges work collectively and courageously to eradicate this negative stigma. Despite, America being known for its equal rights we are living proof that in this era inequality is a factor that cannot be taken lightly. The statistics that are surrounding African American males is astounding. We need to empower African American males with the knowledge that they have a one in four chance of becoming incarcerated. It is also important to know that Hispanic males have a one in six chance, and white males have a one in twenty three chance of incarceration. All of these statistics need to be addressed to empower each and every one us. Throughout history we have not seen a change in majority groups (White, Male) and minority groups (Women, anyone that is not White) although we have seen numbers of minorities increasing at a fast pace. Today, however, the election of Barack Obama, not once but twice, may set the new ideal of what an American actually is. As we embrace different cultures and their ethnic backgrounds society will prosper. As society increases their knowledge, in regards to each person’s differences, they will acquire greater strength and prosperity. The only issue, that can occur, will be in the short term empowering others to embrace diversity. When we look beyond short-term, focus will shift to diverse empowerment through embracing the knowledge of our differences thus making us stronger as a society. TABLE 1: BLACK PROPORTION OF DRUG ARRESTS, EXCLUDING MARIJUANA POSSESSION YEAR BLACK % 1999 40. 1 2000 39. 3 2001 39. 1 2002 35. 8 2003 33. 8 2004 33. 1 2005 33. 2 Data calculated from drug arrest figures by race provided by the Uniform Crime Reports division of the FBI TABLE 2: FBI CRIME REPORT Arrests By Race, 2006 [11,249 agencies; 2006 estimated population 216,685,152] Total White Black American Indian or Alaskan Native Asian or Pacific islander Total White Black American Indian or Alaskan Native Asian or Pacific Islander TOTAL 10,437,620. 7270214 2924724 130589 112093 100. 0 69. 7 28 1. 3 1. 1 Drug abuse violations 1376192 875101 483886 8198 9607 1000 63. 6 35. 1 0. 6 0. 7 DUI’S 1034651 914226 95260 13484 11681 100 88. 4 9. 2 1. 3 1. 1 Liquor laws 466323 398068 50035 12831 5389 100 85. 4 10. 7 2. 8 1. 2 Drunken-ness 408439 344155 54113 7884 2287 100 84. 3 13. 2 1. 9 0. 6 Dis-orderly conduct 5117264 325991 179733 7606 3934 100 63. 0 34. 7 1. 5 0. 8 (The FBI: Uniform Crime Report, 2010) References Bureau of Justice Statistics, 2013, http://bjs. ojp. usdoj. gov/index. cfm? ty=tp&tid=71 The FBI Uniform Crime Reports, 2010, Table 43, http://www. fbi. gov/about-us/cjis/ucr/crime-in-the-u. s/2010/crime-in-the-u. s. -2010/tables/table-43 Federal Judicial Center, 2012, Overview of the United States Court System, http://www. fjc. gov/public/pdf. nsf/lookup/FJC_Standard_PPT_English_June_2012. pdf/$file/FJC_Standard_PPT_English_June_2012. pdf Lawrence, K. , 2011, Race, Crime, and Punishment: Breaking the Connection in America, http://www. aspeninstitute. org/sites/default/files/content/docs/pubs/Race-Crime-Punishment. pdf Motivans, Mark, 2011, Washington, DC: US Dept. of Justice Bureau of Justice Statistics, http://bjs. ojp. usdoj. gov/content/pub/pdf/fjs09. pdf National Law Group 2010-2011, http://blacklawyers. net/ Roberts, D. , 2004, Measuring the Social and Moral Cost of Mass Incarceration, in African American Communities, http://www. law. fsu. edu/faculty/2003-2004workshops/roberts. pdf Spohn,C. ,2000, Thirty Years of Sentencing Reform: The Quest for a Racially Neutral Sentencing Process, http://www. justicestudies. com/pubs/livelink3-1. pdf.

Supply Chain Ethical Issue Heineken - 1508 Words

Supply Chain amp; Ethical Issue: Findings and Recommendations Heineken Company A. Introduction Ethics is one of the most important factors to build reputation and trust of a business among suppliers and consumers. Heineken, a Dutch brewing company, is one of the world’s international most brewers. The company was founded by Gerard Andriaan Heineken in 1864 in Amsterdam (Heineken UK 2012). With operations in 71 countries, the Heineken family owns 125 breweries, employs around 70,000 people, brews and sells more than 250 brands in 178 countries around the world. Four generations of the Heineken family have been energetically contributed to the success and expansion of the Heineken brand throughout the world. During the†¦show more content†¦In brief, this factory is an unsafe environment for workers and the facilities is unqualified. This might lead to serious consequences to worker’s health and the local eco-systems as well. It is also reported that many exclusive Heineken sellers, especially female had to suffer many bad effects from the working environment in some bar, restaurant, party and other events sponsored by Heineken. These salaried women who wear classifiable uniforms have to work for a long time, almost until midnight, communicate with many types of people. They can easily face many problems such as alcohol- related health problems, sexual harassment and violence at workplaces. According to Sanne van der Wal amp; Rob Bleijerveld (2008), in Cambodia, Heineken has been criticized for many year by the Cambodian NGO (Non-Governmental Organisation) Siem Reap Citizens for Health, Educational and Social Issues (SiRCHESI) because of Heineken’s ignorance to their workers, mostly beer sellers. Beer sellers receive low salaries and they do not have any protection and insurance for their company. In Asia, some restaurants illegally use their beer sellers such as prostitution and using sweatshop l abor to make money. Therefore, they are at high risk from HIV/AIDS and others social diseases. It can be seen that Heineken does not concern and protect their exclusive sellers as much as they can. Recently,Show MoreRelatedHeineken Swot Analysis10783 Words   |  44 PagesHeineken Beer Market Executive Summary Chapter 1 analyze threats Heineken is facing and opportunities the company can get from the beer market by using two model PESTLE and Porter Five Forces. PESTLE describe what difficulties come from external environmental factors that the company is facing and Porter five force analyze the threats as well as opportunities of Heineken in suppliers, buyers, competitors, substitutes and new entrant. OT factors in SWOT analysis also use to define in chapter 1 forRead MoreThe Case of Taybeh Beer5966 Words   |  24 Pagesindustry. -Lack of clear-cut channels of distribution. - High cost of imported ingredients for making the beer. - Priced higher than Israeli beers -Lack of advertising because it is not allowed and very costly. - Dependence of raw materials and supplies from abroad (Portugal, Belgium, England, etc.) Opportunities Opportunities are external chances to make greater sales or profits in the environment. - Specific niche: Appreciation for high-quality brew, enjoyment, and refreshment - CurrentRead MoreCoffee and Starbucks2057 Words   |  9 Pagesprovided with resources that help to lower the cost of production, reduce fungus infections and increase the production of premium coffee. 4.2 Macro Environement This section will examine some of the key Macro Environmental factors that face Heineken. More specifically, the following subjects will be discussed: 1. Economic Factors 2. 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These beneficialRead MoreYips Model8756 Words   |  36 Pagescinnamon, until they are now the same recipe as the American donut, but a little smaller to fit the Japanese hand.[?] The conservative British are increasingly abandoning their warm â€Å"pint of bitter† beer for cold American-and-European-style lager. Heineken has successful created a globally standardized beer that its adherents buy all over the world. Americans now drink more and more French mineral water. 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Competition Competition and sales promotion are important factors to determine success in sales of food products including biscuit especially as issue of quality is highly sensitive. Good promotion will work on sales. Biscuit below 50 grams in weight compete sharply Unit size is important as price is an important factor to determine choice... | Read MorePorters Five Forces in Beer Market75399 Words   |  302 Pagestogether with Heineken was by far the largest transaction in Carlsberg’s history, immediately increasing Carlsberg’s beer sales by 33% (pro rata). Carlsberg is now a much larger player in the global brewing industry with a strong position as the world’s fourth largest brewer. More importantly, Carlsberg holds a strong position in virtually all of the markets in which we have chosen to compete. THE TRANSFORMATION In May and June Carlsberg successfully carried out a rights issue. We raised new

Machiavellian and Kantian Analysis of Buddy Fletcher and SEC

Machiavellian Analysis Buddy Fletcher was able to use his financial success and philanthropy to win respect and power. His high esteem combined with his ability to deliver strong profits lead to blind deference. As Machiavelli wrote, â€Å"he who is highly esteemed is not easily conspired against†11 (Ch. 19). In the beginning of his career, Fletcher embodies the spirit of a Machiavellian leader by commanding influence through his success. However, in the spirit of Kant, he seems to adhere to strong moral principles, such as not lying and using others as merely means to his end. However, as details of his success were revealed, his moral character becomes increasingly questionable. Firstly, he did not disclose the methods by which he was†¦show more content†¦This large-scale deception is a clear violation of the principle of universality. If every financier acted like Fletcher, financial systems throughout the world would be destroyed. Trust is a key component and without trust, these systems would lose all their credibility. Fletcher made an exception of himself, violating the maxim of not lying, and took advantage of a trusted system and naive individuals. Fletcher shows his lack of integrity, a quality Kant believed central to his moral theory12 (pg. 155). This lack of integrity only further demonstrates Fletcher’s immorality. Buddy Fletcher’s actions were motivated by selfish desires that he attempted to justify through outlandish philanthropy. Lacking pure motivations, Fletcher used others to suit his own end. Exercising extreme moral hazard, Fletcher lied his way into millions of dollars12. When his fund turned out to be insolvent, it is the individuals’ pension funds that suffer, not Fletcher himself. This is a clear violation of the humanity principle. The humanity principle states that one must never use others as merely a means to their own end. He took pension funds from unwitting individuals and used them for personal needs, such as funding of his brother’s failed movie10. Not only did he lie to investors about the success of the fund, but he used their investments for personal use. He completely violates the humanity principle, using

The Story Of Walter Wimpwung Who Had A Hard Day - 900 Words

In the story of Walter Wimpwung who had a hard day, he experience different types of behaviors throughout his day. First, he had to listen and follow to an order from his boss. Next, he didn’t speak up during a meeting about the product which he didn’t agree with but just went with the crowd. Lastly, he got tricked into buying a bunch of useless stuff. These types of behavior are very common in our day to day lifestyle because it’s something we have got used to. Behaviors like obedience, conformity, compliance, and a variety of different types of social power are examples of what happened to Walter. During the first incident Walter went through, he had to listen to his boss’s orders to ignore the reports that the product wasn’t safe to the public and just move along from it. Even though he didn’t want to follow that certain order, Walter had to obey and show obedience. Obedience is compliance with an order, request, or law or submission to an other’s authority. Even though it was a bad reason to obey, his boss also had social power called legitimate authority. This means that his boss was in a position of power and had the right to tell his staff to follow a certain order. He could have done that to prevent any problems for the company or just wanted to sell the product and make money regardless of who gets hurt. During his meeting with the other staff, Walter knew it was wrong to sell the product as well as the other members of the group. Without anyone to deviate or go

Satire of Modest Proposal Free Essays

Satire at its Finest A masterful satire, this is what Jonathon Swift’s â€Å"A Modest Proposal† is. The writing is used to construct a misunderstood proposal that comments on the social hardship of Ireland while blaming the government’s incompetence as well as the morals of the country. His proposal makes it visible to others that there is a need for social reform. We will write a custom essay sample on Satire of Modest Proposal or any similar topic only for you Order Now From the beginning, it is not clear to the readers of what Swift’s true proposal actually is, but as it is being broken apart, one can see that the entire writing is full of sarcasm. The proposal itself speaks to the people who ignore the issues but who are also the ones that can fix them. As a proposed solution, that author states in the intro that â€Å"for preventing the children of poor people in Ireland from being a burden to their parents or country, for making them beneficial to the public† (Swift 239). Swift is bringing upon an attempt to find a cheap and easy method for bringing children of the poor into the commonwealth as well as turning the problem that is amuck, into its own solution. He uses analogies for the way people, a nation, can be devoured and how the nation is consuming itself and its own resources. â€Å"I grant this food will be somewhat dear, and therefore very proper for landlords who, as they have already devoured most of their parents, seem to have the best title to the children†(Swift 240). Swift has effective and ineffective ways of using different literary techniques that will intrigue one or leave them completely baffled with his proposal. At first glance of this writing, a reader can be nothing but appalled, though it causes one to think about realistic solutions and to take action. Swift’s proposal is effective by which he delivers his argument so efficiently and with such detail and use of sarcastic comparisons, exaggerations, and emotional appeals. His main solution to this problem is the practice of selling and eating children. â€Å"A young healthy child well nursed is at a year old a most delicious, nourishing, and wholesome for, whether stewed, roasted, baked, or boiled; and I make no doubt that it will equally serve in a fricassee or ragout†(Swift 240). He uses statistical support and specific data about pricing, rates, and population numbers, to make his argument more agreeable and supportive. To make his proposal so effective, the author uses good structure, tone, language, and rhetorical appeals. The use of suggestive language makes it hard for the reader to not agree with his arguments. Though the language is clear, it is at a cross with the tone. The tone though full of sarcasm and irony, changes throughout and also reduces human beings and compares them to livestock. An example of this is when Swift writes that â€Å"women as breeders,† and â€Å"children just drooped from its darn† (Swift 241). At first, the author was sympathetic toward the people, but then it becomes more sarcastic again. The use of ethos, logos, and pathos play a large role in making this writing so effective. The constant flow of disgust and humor, have an effect on the reader emotionally, creating pathos. The ethos and logos give the writing underlying meaning, while the logos create an unsympathetic feeling allowing the proposal to come off as one that is opposed. With the author creating different methods of cooking children, the ethos is weakened. A wholesome food whether stewed, roasted, baked or boiled† (Swift 240). With supporting evidence from friends, Swift provides details on better consumption ages, flavors, and experience. This proposal also has some techniques that make it ineffective in its writing. The author is portraying himself to be from a self-righteous moral stance. His stance on the sides is not easy to identify. The irony used is to criticize the society that enables all the se problems and the poverty of others while at the same time it is degrading the poor. His writing shows a lack of compassion for the human life, and by being one-sided and not considering opposing viewpoints, it loses some effectiveness. By discriminating, one would suggest it has an effect on it as well. The story does contain fallacies. One of these fallacies is appeal to authority. Jonathon Swift suggests a friend, who it seems is one of a higher status, who describes the different ages, value and ways that he and others have committed cannibalism. This fallacy is an argument that attempts to overawe an opponent into accepting a conclusion, appealing to ones feelings of modesty. Overall, â€Å"A Modest Proposal† by Jonathon Swift is a very well created satire. Not only does this piece of literature draw one into the progressions of tones and use of strong and witty language, but there are statistics and data to make this argument favorable. In the end of Swift’s writing, he tells us that he has nothing to gain economically, being that he has no children. With this act, one can see that the author is being more sincere than previously believed. The author uses effective and ineffective ways of using different literary tools and tricks that draw many people into is proposal and to see the ultimate reason for it. The rhetorical appeals, structure, tone, discrimination and many details make this writing so intriguing. This absurd request is a way in which to better attempt an economical change in Ireland and to reveal what others wish to not see in the country. His method to get there is one of great success. Work Cited: Swift, Jonathon. â€Å"A M odest Proposal. † Reading Literature and Writing Argument. Eds. Missy James and Alan P. Merickel. 4th ed. Boston: Longman/Pearson, 2011. 238-44. Print. How to cite Satire of Modest Proposal, Essay examples

Corporate Finance Example For Students

Corporate Finance When investors prefer low dividend payout and what is the relation between dividend payout and cash flow (what will increase and what will decrease when using low dividend payment?) Dividend payout ratio refers to the amount of earnings of a particular company that seeks to issue out to its investors in the form of cash dividends. Dividends payouts may vary depending on the industry and a low dividend payout may signify a good thing or a bad thing. Investors who may opt for a low dividend payout may mean that they are willing to allow the company plough back its annual earnings for the purpose of capital growth of the company they have invested in as well as capital gains incur lower tax rates. It may show that the investors are willing to forgo part of their dividends to generate greater returns which lead to higher stock market prices (Sedzro 2010). On the bad side, it may mean that the company does not have enough capital to pay dividends to its investors. The relationship between dividend payout and cash flow is that a company that pays higher dividends may seem to be having a greater cash flow to meet its daily operational needs but a company paying low div idend payout may seem to be having a low cash flow hence, the company needs to retain the dividends for operational needs. This therefore, translates to an increase in cash flow and a decrease in dividend payout when using low dividend payout (Sedzro 2010). What is the relationship between tax and dividend payout (using low dividend payout) what will increase and what will decrease? And does tax benefit shareholder and create value to the firm? One of the disadvantages of quoted companies is that they are subject to double taxation where the annual earnings are taxed as well as the dividends paid out to its investors depending on how much revenue was generated and the amount of dividends paid out. This translates to the higher the tax rate the lower the dividend payout as likewise, the lower the tax rate, the higher the dividends payout (Sedzro 2010). When using the low dividend payout, the tax rate will be low as the companys capital gains will be charged at a lower tax rate, this will translate to dividend payout to the investors also being low as the other percentage of the capital is retained by the company for expansion and growth. When tax rate is high, the investor will receive low dividends payouts which are ultimately unfavorable to the shareholders. The company when taxed highly does not benefit the firm as the earnings taxed could have been ploughed back into the business and used for growth, however, ability to pay the required cash creates goodwill and a positive image of the company to the investors who are more likely to invest more as well receive foreign investments (Sedzro 2010). When investors prefer high dividend payout and what is the relation between dividend payout and cash flow (what will increase and what will decrease when using high dividend payment?) When investors demand high dividend payout, it may signify either that the company is able to pay the high dividends to its investors but its stock prices present a poor state of affairs as they are very low or depressed or that the ability to pay the high dividend payout may mean that the company is very mature and has a number of growth opportunities to its disposal. A higher dividend payout leads to low cash flow while a low dividend payout leads to a high cash flow. When a high dividend payout is used, it may translate to a decrease in cash flow and an increase in dividend payout when a high dividend policy is used. This is as a result of lacking enough working capital at various intervals in its operations since most of its capital was used in paying out dividends (Sedzro 2010). Corporate Finance Test Notes3. Compute the IRR and payback period for each project. How should these metrics affect Harris ´s deliberations? How do they compare to NPV as tools for evaluating projects? When and how would you use each? IRR Analysis Table – IRR Sensitivity Analysis | Revenue Change | Match My Doll Clothing Line | Design Your Own Doll (baseline) 3% | 18.24% | 14.68% | 2% | 17.74% | 14.28% | 1% | 17.24% | 13.87% | 0% | 16.74% | 13.46% | -1% | 16.23% | 13.04% | -2% | 15.72% | 12.62% | -3% | 15.21% | 12.19% | -4% | 14.69% | 11.77% | -5% | 14.16% | 11.33% | -6% | 13.63% | 10.90% | The model reflects a change in revenue from +3% to -6%. IRR of NPV is not used because sensitivity is included in the discount rate. Payback Period Analysis Payback period for each of the scenarios: * Match My Doll Clothing Line Expansion (baseline) = 8.43 years * Design Your Own Doll (baseline) = 10.09 years 4. What additional information does Harris need to complete her analyses and compare the two projects? What specific questions should she ask each of the project sponsors? In order to complete her analyses, several questions need to be asked in order for the report to be as fruitful as possible. Thus the questions that could be asked in order for Harris to make good decisions in comparing the two projects, goes as follows. * What changes would be expected in capital expenditures during periods of change? * Are there any hidden labor costs not being considered in the Match My Doll Clothing Line Expansion, similar to the additional labor costs in Design Your Own Doll? * What level of risk does the project Design Your Own Doll pertains? * In hand with revenue-analysis, what are the incremental earnings? * In addition to the risk level of Design Your Own Doll, is the project stable enough not to harm customer relationships? * What is the forecast for the whole industry? What will be the future market share since this affects sales outstanding and in hand revenue? * Based on the data, what will the equity of the company and share price be, taking into account the two projects? Historical data for inventory turnover ratios; days sales outstanding and days payable outstanding would also be additional information that Harris could benefit from. 5. If Harris is forced to recommend one project over the other, which should be recommended? Why? To improve the present value for both projects the management of the company should think of how to improve the projects’ cash flows. Typically, companies aim to increase cash flow from their existing operations by collecting receivables as soon as possible and slowing down their payables without harming their relations with suppliers. The NPV is a forecast, and as with every forecast, the outcome is not given. Typically forecasts for shorter periods are more accurate. The forecast for New Heritage Company is based on a time period of 10 years. I would recommend reducing that time period to provide more accurate cash flow figures. As with all forecasts, the NVP is not free from risks. The management should be aware that risks such as increase in inflation, change in interest rates, and increased competition in the toys business, could have a negative impact on future benefits of selected project. Last, I would recommend for the management to monitor the costs to increase profits. However, the management should weigh the benefits of reducing costs to avoid an adverse effect of diminished profits. If additional cash inflows are achieved, the company should invest a portion of the profits to generate additional money and expand the business through creation of new products and projects.