Interest Groups in the Formulation of Public PolicyInterest g.docx
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Interest Groups in the Formulation of Public Policy: Interest groups are often known as advocacy groups, pressure groups, lobby groups, and special interest groups. Interest groups are "any association of individuals or organizations, usually formally organized, that, on the basis of one or more shared concerns, attempts to influence public policy in its favor" (Interest Group, 2010). Interest groups can help drive and influence the transition of private problems in to public policy issues with their ability to garner support, access resources, and provide an opportunity for a public voice. Submit 150 – 500 word response: Due by Thursday 7/30/15 which includesa brief description of the private problem you used in last week's Discussion. Then, describe two interest groups that might support the placement of the private problem on the legislative agenda and explain why. Finally, explain how each interest group can impact whether this problem becomes part of the legislative agenda. Support your work with specific citations from the Learning Resources. You are allowed to draw from additional sources to support your explanation, but you must cite using APA standards. All quoted material must be identified, cited, and referenced per APA standards. ...
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Primary Task Response:
Within the Discussion Board area, write 300–500 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
Interest groups play a significant role in contemporary American politics, on a wide range of public policy issues, from healthcare (Affordable Care Act, for example) to gun control (the NRA is a well-known example), and from financial services regulation to regulating food production.
For this discussion board, choose an interest group that appeals to you and then identify a public policy issue that your selected interest group is working on impacting. In addition, include the following information:
What types of activities are conducted by your interest group? Provide examples of activities undertaken by the group within the last 12 months. Activities can include lobbying, television or radio spots, media spots, rallies or other activities. Also, if available, provide links to any news articles about the organization’s activities or press releases from the organization or other articles from the organization’s website for your classmates’ reference.
How is your chosen interest group connected to the average citizen, if at all? Provide examples of average citizens’ involvement in your chosen interest group, if any. If your chosen interest group rarely or does not interact with the average citizen, please discuss how the work of your chosen interest group indirectly impacts the average citizen, if at all.
Do you believe that interest groups do, or have the ability to, promote corruption in government? Explain your position. If they do or have the potential to do so, why do you believe so? If not, what do you think prevents them from corrupting government? Support your position with specific examples.
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Within the Discussion Board area, write 300–500 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
Interest groups play a significant role in contemporary American politics, on a wide range of public policy issues, from healthcare (Affordable Care Act, for example) to gun control (the NRA is a well-known example), and from financial services regulation to regulating food production.
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What types of activities are conducted by your interest group? Provide examples of activities undertaken by the group within the last 12 months. Activities can include lobbying, television or radio spots, media spots, rallies or other activities. Also, if available, provide links to any news articles about the organization’s activities or press releases from the organization or other articles from the organization’s website for your classmates’ reference.
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2. Why do interest groups form?
3. Define the following:
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b. Free riders
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a. Public interest groups
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c. Government groups
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b. Grass-roots organization (vs. "astro-turfing")
c. Public relations
d. PACs and political contributions
e. Advertisements
f. Demonstrations
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a. Iron triangles
b. The revolving door
c. Capture theory of regulation
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Whereas political parties mainly exist to support campaigns and win elections, interest groups seek to directly influence government policy. Interest groups play an important role in extending the practice of democracy by linking citizens and citizen groups to their government in a more permanent fashion than do periodic elections. Interest groups may educate voters and public officials on the issues, support candidates in their campaigns, and litigate in the courts, among other functions. But the relationship of interest groups to democracy is neither simple nor consistently beneficial. Interest groups may also pursue specific objectives harmful to society’s larger interests. This lesson explores the range of interest group activity in the American political system and evaluates the impact of interest groups on policy and, more generally, the democratic process.
Study Questions
1. How do interest groups differ from political parties?
2. Why do interest groups form?
3. Define the following:
a. The collective action problem
b. Free riders
4. Why are some groups more successful in mobilizing their potential membership than others?
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a. Public interest groups
b. Economic interest groups
c. Government groups
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Identify two unofficial actors and explain their roles in mobilizing support for the issue.
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The document discusses interest groups in America. It defines an interest group as a formally organized association that seeks to influence public policy on issues that reflect the diverse interests in society. Interest groups have grown substantially since the early 1800s and include diverse organizations such as corporations, labor unions, civil rights groups, and professional associations that maintain a presence in Washington. While business interests are well represented, many interests at the bottom of the economic spectrum have minimal representation. Interest groups employ various strategies and tactics to influence policymaking, including lobbying elected officials, mobilizing public support, and in some cases litigation.
Pressure groups
Pressure groups aim to influence government policy through lobbying and propaganda. They represent organized groups focused on a shared issue or interest. Pressure groups' power depends on factors like wealth, size, and strong leadership. They can exert influence through ministers, parliament, political parties, and by shaping public opinion. While pressure groups can promote democracy through wider participation, they also potentially threaten democracy if their influence becomes disproportionate or not transparent.
Policy advocacy is one of the key roles of human services profession.docx
Policy advocacy is one of the key roles of human services professionals. It differs from advocating for clients in that it looks to inform those who are responsible for policy formation, such as politicians and leaders of large-scale organizations. Whether at a national, regional, or state level, policy advocacy efforts will have broad implications for how and when human services are delivered. In today’s world of diminished resources, policy advocacy can be the difference between being funded and not having the funds needed to help your clients. By engaging in opportunities with programs and organizations that receive federal or state funding, you may further support your advocacy effects and gain greater access to necessary resources.
Post a brief description of two different human services organizations. Explain how the organizations you selected are involved in policy advocacy. Then, from each organization’s perspective, explain one benefit and one limitation of engaging in policy advocacy. Be specific and provide examples. For this Select and explore one human services organization from this week’s media presentation and one organization from your own area of interest (Mental health counseling)
http://mym.cdn.laureate-media.com/2dett4d/Walden/HUMN/8150/01/mm/carousel/index.html
.
Chapter 5 interests groups (1)
This document summarizes the key types and roles of interest groups in Texas politics. It discusses how interest groups are composed of people who share common goals and try to influence policymakers. The main types discussed are business groups, labor groups, professional associations, ethnic groups, and single-issue advocacy organizations. Powerful interest groups in Texas try to sway policymakers through information sharing, lobbying, mobilizing members, overseeing agencies, funding political campaigns, and forming iron triangles between groups, legislators, and agencies.
Tools Of Public Relations
Lobbying involves influencing government decisions by expressing viewpoints on the decision making process. Lobbyists articulate interests to legislators and officials on behalf of organizations or constituents. Governments often define and regulate organized lobbying groups.
Review the Greer et al. (2017) article (located in this week’s Lea.docx
Review the Greer et al. (2017) article (located in this week’s Learning Resources). Reflect on policy formation and how media coverage of news events impacts public policy.
Select a media resource that is related to health advocacy and public policy (e.g., YouTube video, TedTalk
, film, etc.)
Note: Do not select an article for this Discussion.
Identify an idea or policy initiative from your selected media resource and consider how it originated (e.g., individuals, organizations, politicians, etc.).
Think about the impact of your selected media resource’s idea or policy on health advocacy and public policy.
Post
a comprehensive response to the following:
Briefly describe your selected media resource.
Describe the idea or policy initiative that was promoted by your selected media resource.
Explain how the initiative originated.
Explain two potential impacts of the media idea or policy initiative on health advocacy and public policy.
Be sure to support your postings and responses with specific references to the Learning Resources.
.
Similar to Interest Groups in the Formulation of Public PolicyInterest g.docx (20)
Chapter 9Learning Objectives1. Identify various types of orga.docx
Chapter 9Learning Objectives1. Identify various types of orga.docx
Healthcare The Role of Politics in Public Health Policy.docx
Healthcare The Role of Politics in Public Health Policy.docx
Actors in the Formulation of Public PolicyPublic policy.docx
Actors in the Formulation of Public PolicyPublic policy.docx
Week 7 Assignment Human Rights Policy in Conflict.pdf
Week 7 Assignment Human Rights Policy in Conflict.pdf
Policy advocacy is one of the key roles of human services profession.docx
Policy advocacy is one of the key roles of human services profession.docx
Review the Greer et al. (2017) article (located in this week’s Lea.docx
Review the Greer et al. (2017) article (located in this week’s Lea.docx
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Amy Tan is an American writer whose novels examine family relationships, especially those of mothers and
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Mother Tongue
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I am not a scholar of English or literature. I cannot give you much more than personal
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American Greed Analysis:
Prepare both a presentation (PowerPoint) and a written 3-page paper, based on an episode of
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The following information is required:
1. Date episode was originally aired
2. Name of the episode
3. Name of the business, product, or service that was being sold
4. Problems the business was having? Or how was the scam be operated? Detailed
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5. How could the public have known that fraud was being perpetrated?
6. How did the business hide the fraud from its clients/the public?
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8. How much was invested/lost by the clients? Were there any special conditions?
9. Where did the business start to unfold/unravel?
10. How was the fraud eventually discovered?
11. What were the legal results?
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American Management Association • www.amanet.org
H
as this ever happened to you? You are embroiled in an argument
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“Okay, then, we’ll do it your way.” You do what you can to give that
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On the other hand, you may have had another experience as well. An
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Usually in a conflict or disagreement, as we look for an acceptable
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39
What We Need:The
Satisfaction Triangle
C H A P T E R 3
www.amanet.org
40 UNDERSTANDING THE DYNAMICS OF CONFLICT
American Management Association • www.amanet.org
something. The conventional wisdom tells us that getting that something
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satisfied unless you take some action that is acceptable to her. But the
reality is often more complex than that. Just as important—sometimes
more important—are the other two sides of the satisfaction triangle,
shown in Figure 3-1: process satisfaction and emotional satisfaction.
Understanding all three sides of the satisfaction triangle can provide
managers with a more extensive set of tools for resolving conflicts.
Figure 3-1. Satisfaction triangle.
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Amazon HQ2 Research Project, BUS 163
Professor Cuadra, Tacoma Community CollegeResearch Assignment, Part 2:
Be sure to read through all of the questions, completely, before beginning your research. You don’t want to have to keep going back to the same subject. However, you may have to do that to some degree – that is one of things about research. That is why it is critical to keep track of your source.
Please research the following questions/areas for your assigned city. BE SURE TO KEEP TRACK OF YOUR SOURCES. You will have to provide a list of references, and in-text citations, in submitted research. Every fact or piece of information you provide must have a citation and the full reference for that source included at the end in a reference list.
This set of research is the briefest one and should not take you too much time.
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b. Software development engineers/software engineers
c. Accountants – you may find pay rates for a wide variety of accounting jobs. You might find information for some of these:
i. Accounts payable
ii. Accounts receivable
iii. Payroll specialists
iv. Controller
d. Human resource specialists (sometimes listed as HR managers)
e. Non-executive management positions (project managers, program managers, supervisors)
f. Administrative assistants
2. Area minimum wage (you may be surprised how low it is in some areas).
3. Overall prevailing wage – this may be hard to find. What it means is what the labor department and/or unions require to be paid. For instance, if you are doing construction work on a highway, your company has to pay you and your employees the “prevailing wage” for that work. In this area, people who pour concrete and do paving get $52/hour because that is the prevailing wage.
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4. Find out the median income for your city/area.
5. Find out the average household size. It is good to check out the US Census Bureau site for this kind of information.
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Always Fresh allows external users, such as vendors and business partners, to access the Always Fresh Windows environment. You have noticed a marked increase in malware activity in the test environment that seems to originate from external users. After researching the likely source of new malware, you conclude that allowing external users to connect to your environment using compromised computers exposes Always Fresh to malware vulnerabilities.
(please see attachment and and follow all requirements)
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Alvin Ailey "Revelations" Analysis
The purpose of this assignment is to view Alvin Ailey's iconic choreography "Revelations" and identify themes expressed in the work that reflect life events/emotions. Dance comes from life, as we have been exploring in class, and this piece illustrates how themes in pre-history continue to be relevant throughout time.
Please watch the entire video that we started viewing in class:
https://www.youtube.com/watch?v=RrPJ4kt3a64&t=1647s
Revelations is a 3 part suite. Each of the three sections contains various scenes. You may use this listing of the musical pieces to guide you in identifying the scenes.
Music
PILGRIM OF SORROW
I Been 'Buked - Music arranged by Hall Johnson*
Didn't My Lord Deliver Daniel - Music arranged by James Miller+
Fix Me, Jesus - Music arranged by Hall Johnson*
TAKE ME TO THE WATER
Processional/Honor, Honor - Music adapted and arranged by Howard A. Roberts
Wade in the Water - Music adapted and arranged by Howard A. Roberts
"Wade in the Water" sequence by Ella Jenkins / "A Man Went Down to the River" is an original composition by Ella Jenkins
I Wanna Be Ready - Music arranged by James Miller+
MOVE, MEMBERS, MOVE
Sinner Man - Music adapted and arranged by Howard A. Roberts
The Day is Past and Gone - Music arranged by Howard A. Roberts and Brother John Sellers
You May Run On - Music arranged by Howard A. Roberts and Brother John Sellers
Rocka My Soul in the Bosom of Abraham - Music adapted and arranged by Howard A. Roberts
For this assignment, please identify the themes expressed in each of the three sections, 1)Pilgrim of Sorrow, 2)Take me to the Water, 3)Move, Members, Move
Describe how these themes are developed in the scenes that comprise each section. Include descriptions of costuming, lighting, music, and composition (solo, duet, trio, ensemble, etc) that help create these themes.
Use the listing above as a guide to organize your paper. Create a document in Word, 12pt font, 1"margins, no more than two pages, double spaced. Separate title page, please.
Please view the video and begin your assignment. You can bring any questions regarding this assignment to our next class.
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AMMS company they have an issue with closing petty cash every month
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An 'American psychologist'
Robert V. Guthrie, one of the most influential and multifaceted African-American scholars of the century, wants to be remembered only as 'an American psychologist.' In an interview with the Monitor, he recollects the barriers he overcame to claim that title.
By EILEEN M. O'CONNOR
Monitor
Staff
November 2001, Vol 32, No. 10
In 1955, when Robert Guthrie, PhD, enrolled in a master's program at the University of Kentucky, he was a singular dark face against a backdrop of white.
"I remember one of my white professors eyeing me as if I were an anthropological specimen and remarking, 'You are from one of our Negro schools,'" Guthrie recalls.
His fellow white students didn't offer much support, either, he says, though he once attended a football game after a white student begged him. But when the band played "My Ol' Kentucky Home," a song that at the time included favorable portrayals of slavery, Guthrie knew he had to "get my education, then get the hell off campus."
Despite the discomfort and frustration he felt, however, Guthrie always knew he had a right to be there. That sense of confidence is what propelled him to pursue a degree in psychology when few blacks could, to go on to teach at the University of Pittsburgh, to study multicultural issues as a senior research psychologist in Washington, D.C., and to pen the now-classic tome, "Even the Rat Was White: A Historical View of Psychology."
Last spring, the National Archives of American Psychology honored Guthrie as the first African-American psychologist to deposit his papers there. Asking Guthrie to contribute was a natural choice for the archives because he has worn almost every one of psychology's hats, from research to teaching to government service, says director David Baker, PhD.
"We know almost nothing about the development of psychology at historically black colleges and universities, and only Bob Guthrie's work examines this in detail," Baker explains. "African Americans have much to be proud about their struggle against adversity, like the fact that in my lifetime they were not allowed to attend many grad schools simply because of their race. There are stories of inspiration, courage and strength, and also of anger, frustration and hurt."
First chapters
Guthrie and his twin brother were born in Chicago on Feb. 14, 1932. Weeks later, his father, a school principal, picked up the family and moved to Richmond, Ky., then to Lexington, Ky., towns in great need of teachers for African-American schools.
Growing up in the segregated South left an indelible mark on Guthrie's career outlook. "I did not think I would have an outstanding career," he says. "I was simply growing up in segregated Kentucky, and as at that time black colleges were training teachers to operate primarily in the Southern schools, I figured I might be a public school teacher. I did not know much about psychology. No one did."
He was able to attend Florida A&M University in 1948 by.
Amazon is one of the worlds most popular online retailers. The co.docx
Amazon is one of the world's most popular online retailers. The corporation provides its services on an online platform that enables many users in many parts of the world to have access to these services. Amazone company has undertaken massive investments in technology innovations. Amazone has a large base of customers who access the online service offered by the corporation. A large number of online users require that the company adopts the use of cloud computing and ERP systems in its operations.
Modern business organizations heavily rely on cloud computing technology in their operations. Cloud computing refers to the process of delivering computer services, which are on-demand from storage applications. Cloud computing happens both over the internet and also on a pay as you go basis. Companies in the modern world prefer not to have their computing infrastructure. They opt to rent access to anything from the use of applications to the storage capacity from a cloud service provider. It is costly for companies to own their cloud computing services. The Maintenace of the infrastructure is expensive too. Companies save operational expenses by renting the infrastructure.
Cloud computing enables companies to incur expenses of the only service they use, and they can pay for it only at the instance of use. The companies which engage in the provision of cloud computing services, in turn, make profits from the sale of the services to many users. (Yang et al, 2017). Cloud computing offers a wide range of services today. Through computer networking, companies can get storage space for their information and data. Cloud computing also enables networking and enhances processing power through the use of computer languages and artificial intelligence. Cloud computing also offers ideal office applications. The services do not require the users to be at the computer hardware physically. Individuals today make use of cloud computing technology.
Cloud is a term that could, in other words, mean the internet. The information stored in the cloud is information stored on the internet. There are three main models of cloud computing. The first model is the Infrastructure-as-a-service. This term refers to the units that build up the computer service that is possible to lend, such as the storage service, networking service, virtual, or even physical servers. The second model is Platform-as-a-service. The building blocks that makeup Cloud computing are in layers. The next layer up and the layer underlying is what is referred to as platform-as-a-service.
Amazon uses Enterprise resource technologies. Enterprise resource planning allows Amazon to integrate various business practices. ERP provides ideal solutions to various organizations. It will enable Amazon Corporation to optimize the use of resources with more significant innovation. Regardless of the size of the organization, ERP helps to reduce the waste of time. ERP heavily makes use of modern technology in enhan.
American Academy of Political and Social Science Woun.docx
American Academy of Political and Social Science
Wounded: Life after the Shooting
Author(s): JOOYOUNG LEE
Source: The Annals of the American Academy of Political and Social Science, Vol. 642,
Bringing Fieldwork Back In: Contemporary Urban Ethnographic Research (July 2012), pp.
244-257
Published by: Sage Publications, Inc. in association with the American Academy of
Political and Social Science
Stable URL: http://www.jstor.org/stable/23218475
Accessed: 01-10-2017 09:45 UTC
JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide
range of content in a trusted digital archive. We use information technology and tools to increase productivity and
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Wounded: Life
after the
Shooting
By
JOOYOUNG LEE
Most gunshot victims do not die. In some estimates, 80
percent live to see another day. Yet social scientists
continue to focus on gun homicide. What happens to
individuals who get shot and survive? How do they
experience life after the shooting? This article examines
how gunshot injuries transform the lives of victims. In
practical ways, gunshot injuries complicate sleeping,
eating, working, and other previously taken-for-granted
activities. These disruptions also have much larger exis
tential significance to victims. Indeed, daily experiences
with a wounded body become subjective reminders that
individuals are no longer who they used to be. Ironically,
in some interactions, being wounded becomes attrac
tive and advantageous to victims. Together, these
themes illustrate the need for more sustained ethno
graphic work on the foreground of violent crime vic
timization.
Keywords: gun violence; health; identity; injury; crime
Jooyoung Lee is an assistant professor of sociologi) at
the University of Toronto. He conducted this research
as a Robert Wood Johnson Foundation Health 6
Society Scholar at the University of Pennsylvania. He is
currently writing two books. The first is an ethno
graphic study on the careers of aspiring rappers from
Los Angeles. The second is an ethnographic study on
the individual- and community-health effects of gun
shot victimization in Philadelphia.
NOTE: This research was funded by the Robert Wood
Johnson Foundation when I was a Health & Society
Scholar at the University of Pennsylvania; the project
received a grant from die Research & Education Fund. I
.
American Apparel Submit your completed strategy and change ma.docx
American Apparel:
Submit your completed strategy and change management plan. It should include all critical elements of the final project, incorporating all feedback and knowledge gained in the course.
1 Assignment:Economic Environment
In 2018 I worked in a soft drinks company where they adopted the recent technology in the production to increase the production rates and the accuracy of the quality of the products. After the introduction of the technology in the company, a large number of people lost their jobs since the tech replaced the labour and was cheaper than the manual production that involved individuals directly. The technological factors are one of the external factors that are increasingly affecting the business organization. The business changes relate to the presence and the development of technology.
The technology increases the supply of the products. The increase in the supply enables the company to keep up with the demand for the soft drinks. The technology enables the company to increase the productivity and the communication between the suppliers and the consumers. The company can cut down the waste as well as keep up with the demands due to technological advancement. The technology also increased the accuracy in production due to the machinery that was more accurate than the human labour and the company was able to cut down the waste again. The company reduced its expenditure in terms of the losses incurred due to poor production.
It is important to consider the environment while thinking about the strategy change. The supply and demand within the business affect organizational ability. The demand and the supply stimulate each other impacting the prices of the goods and services in the budget. The customer's interest in specific products exhausts the supply available and increases demand. The demand and supply of goods and services have a high influence in determining the prices of goods and services. The prices of the product are likely to fall if the supply keeps on growing and if the supply keeps on decreasing the prices are likely to keep on growing (Becker, 2017). However, with the market economy, the interest consumers, as well as the companies, produce limits product that matches the demand and the supply and it is used in determining the product development and production.
References
Becker, G. S. (2017).
Economic theory
. Routledge.
Introduction to Economics; Market Equilibrium and Market Forces
Macroeconomics: Crash Course Economics #5
2 Assignment: American Apparel
American Apparel Company is a clothing Manufactures Company. The company designs its clothing distributes and markets its products. It is situated in North America. It is one of the largest marketing companies situated in Northern America. The mission declaration of American Apparel Firm declares that the company is dedicated to high-quality yields, underling care, confines in the business and art, project and tech. The missi.
American Government Policy PaperThis project is an opportuni.docx
American Government Policy Paper
This project is an opportunity to carefully examine a contemporary foreign policy issue between the United States government and one other foreign government.
Completing this activity is a mandatory component of this course. It serves as the standard course assessment for all GOVT 2305 students and is a college requirement. Failure to submit and complete this project in its entirety will result in a failing grade for the course.
There are four steps to completing this project:
Step 1 – Identifying the Issue
The policy paper will address a US foreign policy concern toward a country or specific topic.
Only
one of the topics listed below may be selected. Pick one and begin your research immediately:
• The future of the NATO alliance
• Deforestation of the Amazon
• Political development in Afghanistan
• The use of sanctions as an effective tool of diplomacy
• Political development in Venezuela
• The threat of nuclear proliferation
• The status of Palestinian refugees
• Nigerian political instability
• Economic development in El Salvador
• Support for Saudi Arabia in light of human rights concerns
• Military aid to Egypt
• Military aid to Ukraine
• Turkey’s membership in NATO
Step 2 - Gathering Sources
Conduct research to locate
three academic journal articles
(aka: peer-reviewed or scholarly sources) that specifically address issues within the foreign policy relationship you selected and meet the following criteria:
•
The articles must be no more than ten (10) years old
.
•
The article must have more than five (5) pages of actual content (without graphs, charts, footnotes, citations, etc.).
•
Books will not count toward the scholarly source minimum requirements.
• Carefully choose sources that provide a variety of perspectives on your selected topic.
• In addition to the minimum research requirements, you should use high quality sources for essential current events information relevant to your topic. These may include academic sources that are not peer-reviewed (position papers), newspaper articles, magazine articles, and other quality or reputable sources.
• The course textbook, encyclopedias (including Wikipedia), and almanacs, are reference materials and are
not to be listed as sources on the collegiate level
.
Step 3 – The Proposal
Submit a one to two page proposal to the appropriate dropbox by the date specified in the course calendar. The proposal must:
• Identify the topic in one or two paragraphs:
Summarize the foreign policy topic you will be addressing
Describe the current status of the policy or topic
Describe why this policy is important to the United States
Cite each of your academic journal articles at least once in the paragraph using correct MLA in-text citations.
• Include the Works Cited or Reference section with the three (at a minimum) peer-reviewed academic journal articles that will .
American Greetings Case1. What is going on at American Greetin.docx
American Greetings Case
1. What is going on at American Greetings?
a. Discuss the competitiveness of the industry.
b. Discuss the factors that drive the fundamental value of American Greetings.
2. The shares of American Greetings are currently trading at an EBITDA multiple that is at the bottom of its peer group. Do you think a 3.5 times multiple is appropriate for American Greetings? If not, what multiple of EBITDA do you think is justified? What is the implied share price that corresponds to that multiple?
3. Using a marginal tax rate of 40% and a market risk premium of 5%, what is your estimate of the appropriate discount rate for the free cash flow forecast? Please explain your results and the implication for American Greetings. Based on a discounted cash flow model, what is your best estimate of the implied enterprise value of American Greetings and the corresponding implied share price? Explain your results and the implication for American Greetings. Use the following table to model the free cash flows for American Greetings for fiscal years 2012 through 2015. Forecast the Steady State cash flows in order to determine the Terminal Value. I have provided guidance for identifying the 2011 actual values and the forecasted values.
2011A
2012
2013
2014
2015
SS
Revenue Growth
5.3%
1.0%
1.5%
2.0%
2.5%
3.0%
Operating Margin
9.4%
9.0%
9.0%
9.0%
9.0%
9.0%
NWC Turnover
5.02
6.00
6.50
7.00
7.50
7.50
FA Turnover
1.95
1.95
1.95
1.95
1.95
1.95
WACC
9.1%
Tax Rate
40%
Revenue
Exhibit 2
EBIT
Exhibit 2
NWC
Exhibit 3
=Revenue/NWC TO
Fixed Assets
Exhibit 3
=Revenue/FA TO
ROC
=EBIT*(1-T)/(NWC+FA)
NOPAT
- Change in NWC
- Change in NFA
FCF
TV
DCF
PV
Debt
Exhibit 6
Equity
Shares
Exhibit 6
Implied Price
4. What are the key drivers of value in your model? Do you recommend repurchasing shares?
1
Title PageThis spreadsheet supports STUDENT analysis of the case “American Greetings” (UVA-F-1693).This spreadsheet was prepared by Michael J. Schill, Associate Professor of Business Administration. Copyright © 2013 by the University of Virginia Darden School Foundation, Charlottesville, VA. All rights reserved. For customer service inquiries, send an e-mail [email protected] No part of this publication may be reproduced, stored in a retrieval system, posted to the Internet, or transmitted in any form or by any means—electronic, mechanical, photocopying, recording, or otherwise—without the permission of the Darden School Foundation. Rev. Feb. 11, 2016
Exh 1Exhibit 1AMERICAN GREETINGSAmerican Greetings Share Price (Monthly Close)Closing Adjusted Price for American Greetings SharesDec-09$21Jan-10$17Feb-10$18Mar-10$20Apr-10$23May-10$22Jun-10$18Jul-10$20Aug-10$18Sep-10$18Oct-10$19Nov-10$19Dec-10$22Jan-11$21Feb-11$21Mar-11$23Apr-11.
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