Engaging Ethics in Architecture Assignment Example | Topics and Well Written Essays - 1000 words

Drawing in Ethics in Architecture - Assignment Example Notwithstanding giving a depiction of the different moral concerns inserted in engineering, this report goes further to place into point of view how planners may fuse morals into their training with various partners. Engineering is one of those delicate expert fields that present genuine negative effects on the partners included at whatever point moral principles are disregarded. Basically, engineering morals characterize the ethical obligation to make the best decision or settle on the privilege and best choice on assortment of circumstances as referenced in the presentation. Building work includes the thought of a rich mix of social decent varieties. This requires the requirement for anybody in this calling to consider the social points of view that may come up whenever in the workplace. This is one more pointer regarding why morals might be essential for the compositional calling. Proficient morals will request that people have the option to convey elevated requirements of adminis tration in their expert purview without bargain on grounds of social assorted varieties. Engineering, in itself, has a moral nature. As put plainly, it is one of the procedures that are associated with the beautification of man’s characteristic environment, to improve as a spot (Wasserman, Barry, Gregory, and Patrick 13). This gives a road to the man to discover fulfillment, both in the otherworldly and enthusiastic setting. In that capacity, the structural experts are obliged to go to the acknowledgment that their calling isn't just about adhering to a lot of guidelines or getting things done for it. Or maybe, they have to go to a cognizant information that they are effectively engaged with the way toward achieving satisfaction in human life. They are likewise a focal piece of the enthusiastic and otherworldly angles that make life worth living. Morals, being a basic piece of the structural calling, will, along these lines, direct all the choices made by anybody in that fiel d.â

Chevrolet Corvette Free Essays

Third era C3 (1968â€1982) Main article: Chevrolet Corvette (C3) [pic] 1971 Corvette Stingray Convertible The third era Corvette, designed after the Mako Shark II concept vehicle, was presented for the 1968 model year and was underway until 1982. C3 roadsters included the principal use ofT-topâ removable rooftop boards. It presented monikers that were later resuscitated, for example, LT-1, ZR-1, and Collector Edition. We will compose a custom exposition test on Chevrolet Corvette or then again any comparable theme just for you Request Now In 1978, the Corvette’s 25th commemoration was praised with a two-tone Silver Anniversary Edition and an Indy Pace Car reproduction version of the C3. This was additionally the first occasion when that a Corvette was utilized as a Pace Car for the Indianapolis 500. [26] Engines and suspension parts were generally persisted from the C2, yet the body and inside were new. The 350â cuâ in (5. 7 L) motor supplanted the old 327â cuâ in (5. 36 L) as the base motor in 1969, however power stayed at 300â bhp (224 kW). 1969 was the main year for a C3 to alternatively offer either an industrial facility introduced side fumes or typical back exit with chrome tips. The all-aluminum ZL1 motor was likewise new for 1969; the unique large square motor was recorded at 430-hp (320 kW), yet was accounted for to deliver 560â hp (420 kW) and moved a ZL1 through the 1/4 mile in 10. 89 seconds. [27] There was an all-inclusive creation run for the 1969â model yearâ due an extensive work strike, which implied deals were down on the 1970 models, to 17,316. [28]â 1970 little square force crested with the discretionary high pressure, high-firing up LT-1 that created 370â bhp (276 kW). The 427 major square was amplified to 454â cuâ in (7. 44 L) with a 390â bhp (291 kW) rating. The ZR-1 extraordinary bundle was an alternative accessible on the 1970 through 1972 model years, and incorporated the LT-1 motor joined with unique dashing gear. Just 53 ZR-1’s were constructed. [29] [pic] 1973 Corvette Stingray Coupe In 1971, to suit normal low-lead fuel with lower hostile to thump properties, the motor pressure proportions were brought down which brought about diminished force appraisals. The force rating for the 350â cuâ in (5. 7 L) L48 base motor diminished from 300 to 270 torque and the discretionary exceptional superior LT1 motor diminished from 370 to 330 strength. The huge block LS6 454â was diminished from 450 to 425â bhp (317 kW), however it was not utilized in Corvettes for 1970; it was utilized in the Chevelle SS. For the 1972 model year, GM moved to the SAE Netâ measurement which brought about additionally decreased, yet progressively practical, power appraisals than the past SAE Gross norm. [12] Although the 1972 model’s 350â cuâ in (5. 7 L) pull was really equivalent to that for the 1971 model year, the lower net torque numbers were utilized rather than net strength. The L48 base motor was presently evaluated at 200â bhp (150 kW) and the discretionary LT1 motor was currently appraised at 270â bhp (200 kW). [12]â 1974 models had the last evident double fumes framework that was dropped on the 1975 models with the presentation ofcatalytic convertersâ requiring the utilization of no-lead fuel. Motor force diminished with the base ZQ3 motor delivering 165â bhp (123 kW), the discretionary L82’s yield 205â bhp (153 kW), while the 454 major square motor was ceased. Slow force increments after 1975 topped with the 1980 model’s discretionary L82 delivering 230â bhp (172 kW). [9] Styling changed unobtrusively all through the age until 1978 for the car’s 25th commemoration. The Sting Ray nameplate was not utilized on the 1968 model, yet Chevrolet still alluded to the Corvette as a Sting Ray; nonetheless, the 1969 (through 1976) models utilized the â€Å"Stingray† name as single word, without the space. [30] In 1970, the body configuration was refreshed including bumper flares, and insides were refined, which included updated seats. Because of government regulation,[citation needed]â the 1973 Corvette’s chrome frontâ bumperâ was changed to a 5-mile-per-hour (8â km/h)system with aâ urethaneâ bumper spread. 973 Corvettes are one of a kind in that sense, as they are the main year where the front guard was polyurethane and the back held the chrome two-piece guard set. 1973 was additionally the most recent year chrome guards were utilized. The discretionary wire-spoked wheel covers (left) were offered once and for all in 1973. From 1974 onwards both the front and back guards were polyurethane. [pic] 1974 Corvette Stingray Coupe In 1974, a 5-mile-per-hour (8â km/h) back guard framework with a two-piece, tightening urethane guard spread supplanted the Kamm-tailâ and chrome guard sharp edges, and coordinated the new front plan from the earlier year. 975 was the latest year for the convertible, (which didn't return for a long time) and Dave McLellan succeeded Zora Arkus-Duntovâ as the Corvette’s Chief Engineer. [31] For the 1976 models the fiberglass floor was supplanted with steel boards to give security from theâ catalytic converter’s highâ operating temperature. Stingray 15 model years where the names Corvette, Sting Ray, and Stingray were equal. 1977 was a year ago the burrowed rooftop treatment with vertical back window was utilized, moreover cowhide seats were accessible at no extra expense just because. The dark outside shading returned following a six-year nonappearance. [32] The 1978 25th Anniversary model presented theâ fastbackâ glass back window and included another inside and dashboard. Corvette’s 25th commemoration was commended with the Indy 500 Pace Car restricted version and a Silver Anniversary model highlighting silver over dim lower body paint. Each of the 1979 models included the past year’s pace vehicle situates and offered the front and rearâ spoilersâ as discretionary gear. [13] In 1980, the Corvette got an integratedaerodynamicâ redesign that brought about a huge decrease inâ drag. Following quite a while of weight increments, 1980 Corvettes were lighter as architects cut both body and body weight. [8] In mid-1981, creation moved from St. Louis, Missouri to Bowling Green, Kentucky, and a few two-tone paint choices were advertised. The 1981 models were the last accessible with a manual transmission until well into the 1984 creation run. In 1982, a fuel-infused motor returned, and a last C3 tribute Collectors Edition highlighted a selective, opening back window incubate. [8] 1980â€1982 [pic] 1980 Corvette Coupe In 1980, both front and back guard covers were restyled with integratedâ aerodynamicspoilers that brought about a critical decrease in drag and expanded radiator wind stream. The hood was likewise restyled. The crossed-banner seals vanished from the front bumpers and were overhauled to an increasingly prolonged style on the button and fuel entryway. L-82 tokens moved from the hood to the front bumpers on vehicles requested with the discretionary elite motor. This was the finale for the L-82, presently creating 230â hp (172 kW) however it couldn't be mated to a 4-speed, as the manual gearbox was offered uniquely with the base motor. The speedometer in all vehicles read to a limit of 85â mph (137â km/h), ordered by another and disputable government law. Cooling got standard, as did the tilt-adaptive guiding section, power windows, outside game mirrors, and the comfort gathering. New was a discretionary rooftop board transporter that would mount to the rearâ fastbackâ deck. [31] Many weight-sparing parts were presented including more slender body boards and an aluminum Dana 44 IRS (Independent Rear Suspension) differential and crossmember. The new lighter unit supplanted the seemingly more grounded cast iron GM 10 jolt IRS differential. [30]In line with further weight reserve funds, the aluminum admission complex related with L-82 motors since 1978 was presently introduced in all vehicles. Just because, because of California emanation contemplations, a one of a kind motor application was introduced in vehicles conveyed to that state and was obligatory. This engine was a 305â cuâ in (5. 0 L) V8 engineâ rated at 180â hp (134 kW), fitted with new rounded tempered steel ventilation systems, and mated to a programmed transmission, likewise obligatory. The carburetor and start timing were constrained by Chevrolet’s new Computer Command Control framework. The littler removal motor was not accessible in some other state. California purchasers were acknowledged $50 as reassurance yet needed to pay for the California emanations confirmation which was $250. For correlation, the L-48 350â cuâ in (5. 7 L) motor, standard in the other 49 states, was appraised at 190â hp (142 kW). The base cost expanded multiple times during the model year raising the expense of the vehicle by more than $1,200 to $14,345,24. [3] In 1981, there was only one powerplant accessible, a 350â cuâ in (5. 7 L) motor that, similar to the L-48 base motor the earlier year, created 190â hp (142 kW), yet was presently assigned the L81. The engine was affirmed in all states and accessible with manual or programmed transmissions. Chrome air cleaner covers and cast magnesium valve conceals dressed all motors. The hardened steel ventilation systems and PC control framework presented on the 305â cuâ in (5. 0 L) California motors the earlier year were currently standard, similar to a helper electric motor cooling fan. This, the last C3 accessible with a manual transmission, so prepared, had a distributed 0-60â mph in 8. 1â seconds. This model year was the first to utilize a plastic back spring, presently a Corvette trademark. The spring spared thirty-six pounds, yet was constrained to base suspensions with programmed transmission. At the point when outfitted with Delco’s new discretionary ETR (Electronically Tuned Receiver) radio with computerized clock, the quartz simple instrument board

A Special Kind of Freedom

A Special Kind of Freedom Our friend Rob sometimes recites a parable about a first-century man who was walking home one night after dining in a nearby village. At one point he encountered a fork in the road: if he took the left path, he would come up against a Roman military outpost; if he veered right, he would find his way home. It was dark, and he was a bit tipsy, so he accidentally took the left path. He soon found himself at a wall manned by a Roman guard who yelled down to him, Who are you, and what are you doing here? The man didnt answer. Who are you, and what are you doing here? The man looked up at the guard, How much are they paying you to do this? The guard was silent for a moment. A hundred denarii, he eventually replied. I will pay you double to come to my house every morning and ask me that same question. When we strive to question everything, our actions become more deliberate. And when we live deliberately, that’s a special kind of freedom. Subscribe to The Minimalists via email.

Life, Especially That Of The Human Variety, Has Many...

Life, especially that of the human variety, has many interconnected meanings, one of the most commonly cited being its biological definition as â€Å"the condition that distinguishes animals, plants, and other organisms from inorganic or inanimate matter, characterized by continuous metabolic activity and the capacity for functions such as growth, development, reproduction, adaptation to the environment, and response to stimulation† (oed.com). Although philosophical and personal interpretations of the meaning of life may modify and expand on this definition, one indisputable fact is that life has continued on this earth chiefly through sexual reproduction. The two are intrinsically linked. As earthly species have evolved to produce†¦show more content†¦It it is difficult, if not impossible, to make informed decisions when one’s education on a subject is incomplete, misleading, flat-out inaccurate, or nonexistent. Before a young adult is permitted to operate a motor vehicle without adult supervision, they are required by law to undergo months of preparation, learning about the importance of safety and discretion on the road. In contrast, youth often encounter their first sexual desires, and even sexual partners, without adequate preparation. These two activities differ in that unprotected sexual activity is not and cannot be regulated by law enforcement the way that unlicensed driving is. Instead, religious institutions have endeavored to police the choices of women through the implementation of abstinence-only-until-marriage (AOUM) curricula. The Welfare Reform Act of 1996 allocated $50 million to abstinence-only sexual education, that, among other things, taught â€Å"abstinence outside of marriage as the expected standard† and â€Å"the only certain way to avoid pregnancy [and sexually transmitted infections,]† states a 2011 Psychology in the Schools article (Walcott, et. al., 829). It is unclear whose best inte rest such a curriculum has at heart. The primary aim ofShow MoreRelatedImpact Of Technology On Society s Society Essay1549 Words   |  7 Pageshundred years ago. The world has not always been the massive and interconnected society that it is today. Populations were often isolated by geography and economics. It has come a long way from the prehistoric times when communications were stories passed down by word of mouth and cave drawings and continues to flourish in a large variety of new and creative ways. From small tribes consisting of hunters and gatherers the world has morphed into a complex and interconnected group of diverse people thatRead MoreVirtues, As Described By Aristotle, Are Qualities That980 Words   |  4 PagesVirtues, as described by Aristotle, are qualities that help an individual to flourish and reach their potential, thus living â€Å"the good life.† These qualities manifest themselves daily, throughout all of our lives, though some, especially those t hat are intellectually based, are ever important to those working within information technology based fields. These virtues may help guide what companies we choose to devote our skillset to, or perhaps what decisions we make when designing software. They mayRead MoreSexuality : A Diverse Population Of People And Cultures1507 Words   |  7 Pagesimmensely grateful for as it allowed me to gain a greater understanding for others. Specifically, I have encountered a variety of sexual preferences and identities. With exposure to both social media outlets, like Twitter and Tumblr, and close friends in the LGBTQ+ community, I have developed an accepting attitude towards individuals who stray from the heteronormative ideals that society has set. Even at my college, there is a club for these individuals to unite together. I thoroughly enjoy this greaterRead MoreCircular Economy Conceptualization, Fundamental Principles And Design Process1371 Words   |  6 PagesFaced with the evidence, t hat finite resources are being depleted; that we are using more than we can replace (D. Meadows et al. 1972); and that climate change is likely to worsen the situation for many people of the world (Stott et al. 2010), business models have to change toward a more sustainable way of living, manufacturing and consuming; moving away from neoclassical industrial approaches. This represent the need for a fundamental conceptual shift away from current ‘take-make-dispose’ systemRead MoreThe Effects Of Genetically Modified Foods On Human Health1379 Words   |  6 Pageson the consequences of genetically modified foods on human health as of yet. Furthermore no agreement among the scientific community has been reached on the risks or safety of this technology, although it seems to possess wide, uncertain and, potentially dangerous implications for human health, which are inextricably linked to moral/ethical concerns. Genetically modified foods is most commonly used to refer to crop plants created for human or animal consumption, which have been modified in theRead MorePoverty And Poverty1721 Words   |  7 PagesOver the years, poverty has become an issue that is growing drastically and more people are starting to succumb to it and are falling below the poverty line. Poverty is like an epidemic that is constantly spreading because it has many causes to it. Poverty is the faceless enemy that exists in today’s society and targets those who are incapable of fighting against it and those who cannot support themselves. It is a never-ending nightmare of living life in hunger, without shelter, being exposed toRead MoreThe Yaak Valley Of Northern Montana1494 Words   |  6 PagesUnited States. It has cores of roadless wilderness that have been untouched by human activity and I believe that they should remain as such. The biodiverse ecosystem of the Yaak Valley benefits its human and non-human in habitants and we should protect it from the detrimental effects of human activities, especially the violent changes caused by large timber companies and their practice of clear-cut logging. There are sustainable and pragmatic solutions that would address both human needs and protectingRead MoreHow Human Disease Has Impacted Our Evolution1332 Words   |  6 PagesHow Human Disease Has Impacted Our Evolution Human Disease is an issue that is still constantly trying to be solved and cured in our society. Health care is a critical issue in politics because so many people are still seeking and needing treatment for a variety of illnesses. This is kind of surprising to consider since it is the best time in human history to be alive in terms of healthcare. In the past, humans easily died of many diseases that have been completely cured and unheard of today, suchRead More The Environment and The Role of Native Americans Essay1350 Words   |  6 Pagesfrom a great loneliness of spirit. For whatever happens to the beasts, soon happens to man. All things are interconnected. Whatever befalls the earth, befalls the sons of the earth...If men spit upon the ground, they spit upon themselves...Man did not weave the web of life; he is merely a strand in it. Whatever he does to the web, he does to himself. (Perry, 1971) INTRODUCTION Like many eager non native environmentalists, waiting to be engulfed by the green revolution, I saw the Indigenous cultureRead MoreA Profile of Facebook Essay1579 Words   |  7 PagesSocial media nowadays are bombarding people’s lives whether it is Facebook, MySpace, Friendster, LinkedIn, Orkut, YouTube, Flickr, Twitter, Groupon, and many more. Social media has changed how people interact with each other and how they express themselves on the Internet. Facebook, for example, has really altered people’s perception of themselves. We hypothesize that this altered perception in turn influences their behavior on product choices and involvement with particular groups. Facebook Background

Importance of a Setting in a Short Story - 1255 Words

The Importance of Setting Setting is the psychological time or place in a story. Setting plays an important role in the success of stories. Three examples of this importance can be explained through â€Å"To Build a Fire† by Jack London and â€Å"The Cask of the Amontillado† by Edgar Allan Poe and â€Å"A Worn Path† by Eudora Welty. The settings used in these stories set the reader’s mood. A good writer’s depiction of setting puts the reader right into the story. â€Å"To Build a Fire† by Jack London takes place on a trail in the Yukon. This setting is vital to the story because nature, the cold and the snow become the the main character’s worst enemy. Nature is flatly indifferent to mankind’s survival. The cold will not change because of man nor does it care†¦show more content†¦The greatest use of irony is when Montresor says he is a member of the masons. Fortunato thinks he means he is of a fellow member of a society when what he really means is that he is a bricklayer about to brick him in for all eternity. This conversation also provides foreshadowing in the story. This is the first clue the reader gets about how Montresor will kill Fortunato. The overall mood of the story is one of impending evil. The ending of the story is filled with suspense. You see Montresor carefully construct each row of stone. At this point Montresor is fully committed to finishing his horrifying deed even at the desperate pleas from Fortunato. When the last brick is set in place, we know Fortunato’s fate has been sealed. â€Å"A Worn Path† by Eudora Welty is set in December at the first stirs of morning. The story features main character, Phoenix Jackson’s, journey through the woods to a town called Natchez. The story describes Jackson with words such as â€Å"granny†, â€Å"old Negro woman† and â€Å"a hundred years old.† The setting plays an important role in this story wi th its black imagery. Not only is the tone and the setting draped with a black overtone, but the main character is as well. The setting helps establish the strong theme of dedication, love and selflessness. A horrible dark and scary setting must be traveled by this old woman in order to receive medication for her grandson. The hardships ofShow MoreRelatedFiction Essay1407 Words   |  6 PagesFormat Compare and Contrast Short Story Fiction Essay Jessica Jack Liberty University English 102-B43 Outline for Compare and Contrast Essay Thesis: â€Å"The Rocking-Horse Winner† by D.H. Lawrence and â€Å"The Lottery†, by Shirley Jackson provide two contrasting uses of Setting in a short story which accentuate the importance of the element in a story. One author has the ability to distract the reader, while the other author creates the structure of the story. 1. Introduction a. ARead MoreEssay on the setting of there will come soft rains786 Words   |  4 PagesEssay on the setting of â€Å"August 2026: There Will Come Soft Rains† by Ray Bradbury In â€Å"August 2026: There Will Come Soft Rains†, a short story by world renown author Ray Bradbury, the narrator tells the story of a house in Allendale California, in the year 2026. The setting in this short story is very particular; it is set in a post-apocalyptic world that most likely illustrates the aftermath of a devastating nuclear war. The story takes place over the course of one day: â€Å"August 4, 2026†. The houseRead MoreDevices In The Most Dangerous Game By Richard Connell876 Words   |  4 Pagespossess the ability to reason. Other animal species only have instinct, thus making them less smart. In Richard Connell’s short story â€Å"The Most Dangerous Game†, it tells of a hunter named Rainsford who got stranded on Ship-Trap Island. Zaroff hunted Rainsford on the island, but in the end Rainsford killed Zaroff . In â€Å"The Most Dangerous Game†, the author uses imagery, setting, and characterization to suggest that instinct is better than reasoning. Stress is caused when the body perceives a threatRead MoreScarlet Ibis868 Words   |  4 Pageselements that combine together to create the theme and mood of a story. In the short story, â€Å"The Scarlet Ibis,† the author, James Hurst, demonstrates the use of literary elements and the importance of vital life lessons. The mood in this short story is deeply nostalgic and melancholy. The narrator faces the difficult obstacle of his pride vs. Himself (which is also the critical theme of the story). In the story, Hurst uses the elements of setting, foreshadowing, and symbolism to create a bittersweet, nostalgicRead MoreSummary Of Hills Like White Elephants By Ernest Hemingway940 Words   |  4 PagesSeptember 2015 Importance of Setting in â€Å"Hills like White Elephants† Ernest Hemingway’s short story â€Å"Hills like white Elephants† is a minimalistic story about a young American girl named Jig and her lover, an American man. Throughout the story, Hemmingway uses an abundant amount of dialogue so the reader can interpret that Jig and the man are contemplating some decision. Arguably, the setting is the most important aspect of â€Å"Hills like White Elephants†, and Ernest Hemingway uses setting subtly but effectivelyRead MoreAnalysis Of Daniel Orozco s Orientation 1034 Words   |  5 PagesThe Analysis of Daniel Orozco’s â€Å"Orientation† In the short story, â€Å"Orientation†, by Daniel Orozco there is a major contrast in the setting of the workplace and of the detailed descriptions of those who work there. Orozco successfully utilizes the literary elements of tone, symbolism, setting, point of view, characters and structure to emphasize the idea that a workplace does not successfully identify those who are employed. In the story, the narrator is giving a somewhat unusual orientation toRead MoreA Rose For Emily And Barn Burning By William C. Faulkner949 Words   |  4 Pagesmost unique short stories were written by William C. Faulkner who embodied the Southern sensibility, and to this day his stories continue to be enjoyed by many. Faulkner was born from a rich family who had accumulated wealth before the Civil War, but like many families in the South they had lost all of it during the conflict. His family moved to Oxford, Mississippi which is the basis for the fictional town of Jefferson in most of his s tories from Yoknapatawpha County. Faulkner’s stories create a moodRead MoreCharacterisation In Nadine Gordimers The Moment Before The Gun Went Off 1577 Words   |  7 Pagesexplores the characterisation of the main characters in Nadine Gordimers The Moment before the Gun Went Off, a short story about the shooting of a black man in the years of the apartheid, and Margaret Atwoods Death by Landscape, a short story about a womans painful memories. I will begin by looking at the main themes the two short stories have in common. Considering also the different settings and the society portrayed in the texts. Both Gordimers The Moment before the Gun Went Off and AtwoodsRead MoreEvaluation Argument Hills Like White Elephants1388 Words   |  6 Pageswhite elephant is an idiom for a valuable but burdensome possession, but also it means a rare and sacred creature. In Ernest Hemingway’s short story Hills Like White Elephants, Hemingway uses an unborn child as a white elephant. This short story depicts a couple of an American man and young women at a train station somewhere in Spain. Hemingway tells the story from watching the couple from across the bar and listening to their troublesome conversation. Through overhearing the couple’s conversationRead MoreThe Use of Language in The Fall of the House of Usher by Edgar Allen Poe625 Words   |  3 PagesEdgar Allan Poe became an author that has grasped the importance of language in his short stories to form the perfect mood and the ability to affect his readers emotionally. In the short story, The Fall of the House of Usher, a ma n decides to go on a trip to reunite with a friend from his childhood, who suffers from an unknown illness. During the visit, bizarre events occur while staying in his friend’s home. This short story allows Poe to use hints of horror and gothic prose to drive the protagonists

Efficient and Economical Forms of Team Processes Free Essays

Purpose: The research aims to study key team processes, through which the team members share their individual knowledge, create shared understanding of the team, situation, task, leading to high team performance. The current research also aims to understand how teams adapt with team processes to high task load situation. Design/Methodology: Video recordings of Nuclear Power Plant operator teams’ activity have been used for collecting and analysing data. We will write a custom essay sample on Efficient and Economical Forms of Team Processes or any similar topic only for you Order Now 16 operator teams had to follow the selected same scenario, including 96 team members’ interaction. The performance scores were made by the instructors’ evaluation. Team process categories were developed based on different theoretical, empirical frameworks of team processes and semi structured analyses of transcribed communication and video recordings. Results: Specific forms of team processes help team members to build a shared conceptualization of the faced problems, thus lead to higher team performance, such as: providing directions, summarizing, projecting to the future, coherent information flow. Economical forms of team processes may help to lessen and manage high task load situation. Limitations: Team performance evaluations were based on subjective assessments of performance. The study lacks explicit team knowledge measurements. Research/Practical Implications: The revealed team process categories may serve as a valuable input for team members’ social skill focused selection and development methods. Originality/Value: The study aims to capture team processes in a naturalistic and complex work environment. The analyses reveal how good performing teams manage unpredictable high task load situation with team processes from information, knowledge sharing perspective. How to cite Efficient and Economical Forms of Team Processes, Papers

Laura Martin free essay sample

Laura Martin is a sell-side equity analyst at CSFB. She covers 15 large capitalization stocks and focuses on 2 industries. Martin estimated that she spent approximately 40% of her time analysing firms she covered, 35% communicating that analysis to buy-side clients and 25% on internal CSFB activities. Martin has covered the cable industry for the last 5 years. During that time, she had tried to differentiate herself from her competitors through an emphasis on more advanced valuation techniques. While most of her competitors were content with metrics such as EBITDA multiples, Martin had chosen to emphasize discounted cash flow analyses and EVA analyses. Recently, her attention had shifted to real options analysis as she felt other valuation metrics neglected an important aspect of the cable industry. ROIC Target Price Analysis Using regression analysis, Martin analysed the relationship between ROIC and the valuation of cable and entertainment companies as defined by the ratio of enterprise value to average invested capital. We will write a custom essay sample on Laura Martin or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Martin projected that Cox would improve its ROIC by 0.8% or 80 basis points, in 1999. Martin then used the regression line to estimate the target enterprise value to average invested capital multiple. Adjusted for non-consolidated assets, other assets, cash and option proceeds and debt, Martin inferred a target price for Cox by year-end 1999 of $50. This ROIC â€Å"Target Price† Analysis indicated to Martin that Cox had significant upside potential relative to its current stock price of $37. 50. EBITDA Multiples Analysis The valuation of Cox Communications has been framed by Martin in the form of EBITDA multiples since it is a common metric in the cable business. In Exhibit 6, Martin compares how Cox currently traded as a multiple of EBITDA relative to how it would trade if Martin’s target process of $50 and her projections for EBITDA would be realized. According to this analysis, Cox currently traded at 13. 3X EBITDA and Martin’s target price would translate into a 20. 9X EBITDA multiple for 1999. This analysis reflected only the past figures and doesn’t account for different accounting practices. A dynamic industry makes it difficult to find comparable firms for valuation using multiples. Ques 2. Consider the DCF analysis presented in Exhibit 7. Based on the case contents, comment on how realistic the assumptions are, justify? From the DCF analysis presented in Exhibit 7, we see that the value of Cox Communications comes out to be $54. 29 per share which presents a 31% upside in the stock based on the current price. This is a very high stock valuation so we need to look into the assumptions made while calculating the DCF value. EBITDA growth rate has been assumed to be a highly optimistic estimate of 16% CAGR for the next 10 years. Perpetual growth rate of 4. 4% has been assumed which is a realistic assumption. Concern over CAPEX decreasing as capital will depreciate to nothing over time. The capital structure remains unchanged at 18% debt to capital ratio. Risk free rate has increased to 5. 359% from 5. 12% so the cost of equity is raised to 10. 69% and the WACC increases to 9. 42% Martin was too optimistic in her assumptions. If we do the DCF using our inputs then we find that the value comes out to be $41. 10 per share which is a 9. 6% premium over the market price. Ques 3. Why is Martin pushing real options valuation as an alternative to DCF analysis? Martin felt that discounted cash flow analysis was a significantly better valuation toll than EBITDA multiples but it had several shortcomings in the new digital world of the cable industry in particular; Martin noted that the previous analysis did not include the value from unused bandwidth capacity. Martin considered the DCF valuation unsatisfactory for these unused channels because companies are being hit for 100% of the capital spending but only the visible revenue streams from the existing services are being counted for the DCF valuation. Since the stock price of Cox was below the DCF valuation and since the DCF valuation did not incorporate the value of the stealth tier, Martin reasoned that the stealth tier was actually being ignored by the market. Thus Martin felt that by incorporating the Real options valuation in her investment thesis she could differentiate herself from her competitors and provide better value to her clients. Ques 4. What is the analogy Martin is trying to draw with options? What is the ‘stealth tier’? In what way is the stealth tier like a call option? What is the unit of analysis? What is the underlying asset price? What is the Strike price and Volatility? Martin turned to real options to value ‘stealth tier’ since she considered the stealth tier as a real option for cable companies such as Cox as they could potentially light up the stealth tier as new, currently immature or unknown interactive services were developed. According to Martin, the contingent nature of investment decision and the uncertainty surrounding the ultimate revenue streams made the stealth tier ideal for valuation through real option analysis. As financial options give holders the right, but not obligation, to buy securities, this real option gave each upgraded cable company the right, but not the obligation, to obtain revenues from the stealth tier, depending on market conditions. Real option analysis has been used in several industry settings including natural resources extraction and pharmaceuticals research. Cable companies were upgrading cable infra to have 750 MHz of bandwidth and additional 15% to 550 MHz by June 1999. Out of the 750 MHz of capacity in an upgraded cable plant, 550 MHz was typically devoted to analog video and another 98 MHz was dedicated to digital services, network control, telephony and internet services. The remaining 102 MHz comprised of 6 MHz channels and was essentially unused. This unused capacity of 102 MHz was called stealth tier as the revenue streams were invisible. In order conduct a real options valuation of stealth tier, Martin considered the best approach was to value the option of each channel of the stealth tier per home passed. Martin used the average current market value per home passed for a typical cable company of $2,500 which was further divided by 108 lit channels currently being employed to yield a current value of channel per home passed of $23. 15 which is the value of underlying asset (Exhibit 10). For strike price, she calculated the cost of light up one of the seventeenth channels of the stealth tier which was coming close to zero. She eventually considered the higher opportunity cost of not lighting up the fiber immediately. With 61% penetration rate, implied annual revenue of $263 or $2.44 ($263/108 channel) per channel translated into $1. 22 (cable industry margin of 50%) of foregone annual profit per channel per home passed which is the strike price. She used implied volatility from a traded at-the-money call option on the Cox stock to estimate the relevant volatility for the real option. A one-month call option traded in the market was priced to imply a volatility of 50% per year. Ques 5. Would you purchase Cox Communications on the basis of her analysis? Investment recommendation will be to buy Cox Communications since there is significant upside potential in the stock even with our conservative estimate.