Wednesday, November 27, 2019

Marketing Plan = Hotel Industry

Marketing Plan = Hotel Industry Free Online Research Papers Executive Summary This marketing plan has been prepared, taking into consideration the current economic situation. This weighs in heavily in every aspect of the plan Our luxury travel market has become quite challenging to operate and we have to take into account of what has been working for us and what has not been working for us. In order to survive, we might have take some steps that we might not have considered before. In doing this, we have to be careful not to lose market share to the competition that has resorted to price wars which would be detrimental to the market in the long term. Should the price war continue, it would be difficult to bring the rates up when the economy improves and it would mean less profits for all the players. The weak market has weighed heavily on the recommendations made. This is the general consensus of the direction that our organization should take and same time be flexible to adapt to any surprises that may arise in these uncertain times The budget is also based on the assumption that market sentiment is weak and the industry does not see a pick up anytime soon. With the government lending a hand via training grants, we have embarked on careful cost cutting measures and prudent spending. 1. Terms of reference This marketing plan is for the Four Seasons Singapore. The target market is the luxury traveler. Objective is to further target the luxury market travelers from that come into Singapore and also look to market ourselves in emerging markets. At the Four Seasons Singapore 60% of all room revenue is dependant on annually contracted clients from various industries. The rest 40% is from the leisure market, contracted as well through cruise ships and other channels like luxury concierge travel services worldwide and travel offices like Amex Centurion travel whose clients have to be earning a certain level of income to qualify. Singapore is a major embarkation and disembarkation point for luxury cruises like the Cunard Lines. As the Four Seasons Singapore is the smallest boutique hotel in the shopping district, we are able to differentiate from competitors. 2. Business Mission The mission of Four Seasons is to operate medium size hotels that provide exceptional quality to the luxury traveler. Frequent international travel began to pick up in the 70s and Four Seasons decided to capitalize on this by concentrating on a niche market. 3. PEST Analysis 3.1 Political The government is very pro tourism, 65% of Singapore’s GDP is from the services sector and the Singapore government feels that this is its competitive edge. The government is providing training grants for hotels to help upgrade its workforce so that when the economy recovers, Singapore will be ready. The government is also lobbying for business to increase tourist arrivals actively overseas. We have taken advantage of the governments training grants. 3.2 Economic The downturn has caused many industry players to slash prices and has caused a mini price war. We are staying away from this and have creatively packaged our room rates with benefits and have taken this slow period to reward past customer loyalty. This we feel will further increase customer loyalty. 3.3 Socio-Cultural Unlike accommodation, we rely heavily on the local market for our banquet and food and beverage revenue. The power distance in Singapore society is to our advantage as we are considered a premier location to dine and to hold events. Weddings are a huge part of our revenue and being an auspicious year for the Chinese to wed, we are seeing continued growth and the market could be further exploited. 3.4 Technological The slowdown has also affected our suppliers and our equipment suppliers are offering competitive prices. There are many more offers that we could look into to better equip ourselves in the future, taking advantage of flexi payment plans offered 4. The Market Corporations worldwide have cut travel budgets and combined with falling tourist arrivals, the demand for hotel rooms have fallen among luxury hotels. Inflation and recession normally leads to a shift in demand for inferior goods and demand has shifted to three and four star hotels but they are still perceived to be expensive and people are still staying away even though rates are quite competitive when compared to the three and four star hotels. In order not to lose market share, Four Seasons has to ensure that there is no decline in service and its service promise. We have a reputation of being more personal compared to our competitors and we strive to build a relationship with our guests. As our competitors are all large hotels with almost the double the capacity, perception by guests who fill up feedback forms is that they feel that they are just another person compared to when they stay at the Four Seasons where we emphasize name recognition and usage. Our main source of business is from contracted corporate clients originating from both overseas and the local markets. Of this 90% is from the overseas market and 10% are from local companies. Location plays to our advantage together with our size of the hotel. Our niche market demands peace and quiet but a close proximity to the hustle and bustle of the city. We are the only hotel in the shopping district that is able to offer this due to our strategic location which is at the beginning of the street. Another advantage is the recent renovation that the hotel has gone through. We have a new product compared to the other luxury operators. Our market is mainly the US and UK market. Brand recognition is high and travelers mainly first time travelers who come to Singapore are most likely to book with us as they feel re-assured that service would be consistent. Based on statistics, travelers from the UK and the US made up the two of the largest groups after India and China. The exchange rate being an advantage, travelers from the UK and US perceive us as being value for money, compared to travelers from India and China whose currencies are lower than the Singapore Dollar find us to be expensive. 4.1 Market trends Many companies have cut down on corporate travel. With the collapse of Lehman Brothers, Singapore on the whole lost about 8000 room nights and we have lost 1000 room nights. Corporate travel is down by 40%. Many five star properties have decided to slash prices but we have a belief in our product which is fairly priced. Past experiences has given us precedence on how to run operations and keep costs down in times of crises. The competition has slashed prices and we feel that cutting rates is not the way to go as it would be difficult to justify to our guests the increase when the economy recovers and we will lose integrity. It is still possible that Asia could start to recover before the end of 2009, said Dr Martin Buck, Director of the Competence Center Travel Logistics at Messe Berlin, which commissions the ongoing research from IPK (hotelnewsresource.com/article37267.html#Continue). We need to come up with creative ideas which would add value to our product and services. A room could be packaged with additional benefits. It’s a consumers market as they are aware of the hotels undercutting each other and is using this to get the best possible deal. Four Seasons is refusing to be drawn into bargaining as its detrimental to the brand and its image as a luxury operator should it involve in bargaining. 4.2 Local Business Trends The economic slowdown had brought about a culture of prudent spending across all industries. With threats of unemployment looming, the negative impact on luxury goods is great. The government is also driving home this message to spend wisely by cutting down on hosting foreign dignitaries in local hotels. Although we are not reliant on the local business for our accommodation revenue, we are heavily dependant on the local market for weddings and catering business. Although everyone is cutting back, the Four Seasons is a much sought after venue. Wedding blogs and our marketing activities like hosting wedding fairs have created awareness and has helped us to hang on to our revenue targets. 4.3 Economic cut backs With the reduction in spending, the government is encouraging the local industry to go back to the drawing board to train employees and better equip them with skills. They are offering incentives and tax breaks for training purposes. The governments move to cut taxes on exhibitors at trade shows, highlights the governments commitment to improve the situation by making Singapore competitive and indirectly boosting the local tourism sector. 4.4 Market Growth The growth of our target market has been steady for the last 5 years in tandem with a steady increase of visitor arrivals. The long term agreement to host the Formula One race for the next five years has guaranteed a demand for rooms for a 2 weeks in September. Overall the world travel industry is expected to shrink at the rate of 2%(world travel trends report 2008\2009) Long haul demand is also expected to fall and we might see growth in the short haul traveler. This would also boost business for low cost carriers in the region. The luxury market again is not expected to make a recover to its pre-crisis levels anytime soon and we must look at being creative in tapping the short haul market. Analysts predict that only hotels that would ride the current economic situation will be those who are able to innovate. They go on to say that hotel sales and marketing personal cannot assume that the respective business processes will return to the same model that worked previously when the economy recovers. Scott Anthony in the Harvard Publishing Weekly pointed out that the name of the game now is to figure out what will provide optimal value to hotel guests in the product price segment. Value is no longer a price point. The example cited is that value to a $99 paying customer for a room night may not be the same as someone paying $500 a night. He concluded that we cannot expect customers to immediately pay a premium unless they are given a good reason to do so. 5. Strategic Issues Analysis Our current marketing objective is to target the luxury traveler in the emerging markets and to target the growing affluent people in existing markets and introduce them to luxury travel and accommodation To effectively communicate our strategic objectives to our target markets As new markets emerge we have to identify these new markets to promote our hotel To fulfil our promise of uncompromising quality and service to our hotel guests How we segment the market can be equated to benefit segmentation. Our target market is one that values high quality and service. They are also prepared to pay more for the benefit. Our competitive advantage can be attributed to three main points. Service, location and size. We are a premier choice for guests who seek small boutique hotel experience that offers’ privacy and discreet service. Our core competency is being able to provide a consistent high level of service. Although our competitors also aspire to provide a high level of service, consistency is an issue as being a much smaller hotel, we are able to monitor and control our services more effectively, preventing lapses Four Seasons is positioned as a luxury hotel providing seamless luxury service. We use past and current awards by travel magazines to convey the benefits of choosing the Four Seasons 5.1 Marketing Mix Effectiveness Product Rooms were recently renovated and this is an advantage compared to our competitors who have not upgraded recently Promotion We have come up with creative promotional offers. These are communicated through publications and travel operators that cater for the luxury market Price With the economic slowdown, our competitors have begun to slash prices. We have maintained our prices but have added services to the basic rates to make our product attractive Place Our location in the shopping district and its close proximity to major shopping centers is another factor that the hotel is marketed together with its excellent location 6. SWOT Strengths Weakness Strategy: Our differentiation strategy is a tried and tested formulae. Does not only work locally but is a similar strategy adopted by all FS Hotels Structure: Compared to other hotels, our structure is flat and decentralized. It facilitates communication Skills: The hiring strategy has ensured that those recruited have a diverse range of skills and language capabilities Staff: The staff are hired only if they have demonstrated a high level of service culture. The five levels of interview ensure that general consensus is reached before the hiring decision is made. Brand Strategy: The well established brand ensures that we are still the top choice among the luxury traveler Reputation: The reviews and awards from travel publications ensure a strong reputation. This reputation greatly aides our marketing efforts when sourcing for new business. Staff: Stringent recruitment, staff that we are looking for are hard to find and the hiring process takes a long time Systems: Most hotels credit air miles and we refuse to do so even though our guests ask for it. Facilities: Dining options, we only have two restaurants and many guests expect a fine dining restaurant in our hotel Opportunities Market: There will be retuning growth after. The training would be needed to be stepped up and to better prepare when business returns. Competitors: Apart from the current competitors, we do not foresee any new entrants of the boutique hotel niche, we are still not faced with direct competition Suppliers: The current economy crises is allowing us to renegotiate prices, we have managed to tie up long contracts at preferential prices Threats Substitutes: Furnished condominium units offering rates and situated across the hotel is cheaper and might attract the one night staying guests Economy: The recovery from the economic slump might be longer than expected 7. Marketing Objectives 7.1 Strategic Thrust Four Seasons current markets offer few prospects for future growth. The brand is well established and we feel that it has reached a plateau. Thus the need to enter emerging luxury markets. Four Seasons Singapore has to focus on markets like Russia and emerging markets in South America. Magazines such as Forbes comes up with emerging markets that is producing millionaires a sign of a growing affluent segment. The lead could be used to market our hotel. 7.2 Strategic Objective The strategic objective would be to build sales and market share. As Singapore being marketed as a destination for both business and leisure in emerging markets, we should follow suit and promote ourselves as the premier luxury hotel in Singapore. 8. Core Strategy 8.1 Target Market The target market is the luxury traveler in existing and emerging markets 8.2 Competitor Targets Four Hotels in Singapore are perceived to be our competitors. When the Singapore Tourism does its rankings, we found out to be the top of the list. This we should use when advertising to re-emphasize that we are the best hotel to stay with 8.3 Competitor advantage Our advantage boils down to three main factors. Reputation for unsurpassed service levels, location and the size of the hotel 9. Marketing Mix Decisions 9.1 Product We have a good product and a reputable brand. No change must be made here. The services that accompany the product must be looked into. Much improvement can be made here in the form of added benefits like room amenities. These do not have to be of great cost to us but they have to be meaningful and creative and we must also have a wide range. This is to avoid repetition and to maintain the element of surprise when the guest walks into the room. These amenities could be in the form of edible items or bath products that could be arranged prior to arrival. A token of appreciation should also be looked into, maybe in a form of a bear with the Four Seasons logo, it would be a reminder of their stay. The credit of air miles should also be started through partnerships with airlines. This would be an added reward for our guests who choose us. This would also build repeat business. Another move could be a company loyalty program. This might benefit us when it comes to the business traveler th at often travels to various locations. A loyalty reward program would induce a potential guest to choose Four Seasons. 9.2 Promotion With economy in a critical situation, the sales process needs to be innovative. This is something our marketing department is lacking. Instead of just cold calling, they must use targeted prospecting and pre-approach qualifying methods. We need to be clear on what kind of new customers will find value in our product. They could be in the form of meeting planners that could be of more value to the hotel. The key to note here is that value may not be a price point. A main process that our sales department could do is a through research. What is economic condition of the respective industries that our target market is an important area to consider. Changes in their business models and how we can tap their needs and add value to their experience must also be considered. When dealing with them, we need to have a message that appeals to them that concerns their business process improvement, or else all our efforts in trying to solicit a business agreement might fail. 9.3 Price We have a perception of being a expensive hotel. The current market, where hotels are cutting prices, we have refused to do so. Since there are more and more hotels cutting prices, we could modify our room categories and offer them at lower prices to match our competitor rates. There are about 50 rooms that are 5 square feet smaller than regular deluxe rooms. These could be sold at a lower price and the price difference can be justified by the smaller size. Loyalty could be rewarded with the room upgrades and throwing in spa treatments for repeat guests. This could be a viable strategy as we are not dropping rates across the board but opening up a limited supply for the price sensitive luxury traveler. This would be a room only offer and we could make revenue on food and beverage that the guest could potentially consume. 9.4 Place As demand drops from our usual US and UK markets, we should shift our focus to China and India market where 40 million trips were made out of China alone. Despite the global slowdown, this would be a good market to target as young consumers in Asia see personal travel as a key activity in their lifestyles. Research shows that top discretionary spend priorities among young consumers is personal travel 9.5 Physical Evidence The area that needs improvement that does not reflect our 5 star service is our spa. This would need significant upgrade as this area lacks the luxurious feel which is felt everywhere else in the hotel. Renovations and changes are needed in line with current spa trends. This would allow us to compete for the luxury leisure traveler with the other hotels. 9.6 Processes Although we have various processes that enable us to maintain a personal touch, we could do a little more to ensure we maintain a continuous relationship. Small ideas of sending a birthday card on a guests birthday for those who have a record with us, would go a long way to adding a personal touch and increase the chances of us being their choice when they make a purchase 9.7 People Four Seasons has a reputation of being only the best. Although all the necessary procedures are in place to ensure we hire the right people, the process of recruitment must be sped up. Many a times the 5 step interview process takes 4 to 5 weeks and potential employees decide to work somewhere else as they cannot wait that long. Talent sometimes slips through our fingers due to this slow process. 10. Marketing Budget Sales and Marketing Budget Total Labor 808300 Total Supplemental Pay 94700 Total Benefits Expense 147200 Total Employee Meals 22200 Total Labor Benefits 1500 Dues and Subscriptions 800 Miscellaneous Expense 800 Operating Supplies 4900 Postage, Freight, and Courier 20500 Printing and Stationery 70000 Promotion 11600 Telecom Expense 34900 Trade Shows 15600 Training 75100 Travel Meals and Entertainment 34900 Travel Other 3700 Media Advertising Production 14700 Agency Fees 15000 Collateral Material 60500 Corporate Advertising 387900 Direct Mail 72400 Media Food Beverage Advertising 29400 In-House Graphics 5200 Marketing Fee 536600 Outside Services 14700 Photography 17200 Media Rooms Advertising 38800 Media Trade Advertising 8000 Total 2,547,100 Figures are based on 5 years of historical data an spending patterns. Certain figures here have been amended to reflect the expenses should this marketing plan be accepted by management. Notable increase here is the Marketing Fee and Corporate Advertising. These are the areas that need additional investment as we go hunting for more business. Thru corporate advertising, our hotel is exposed to all markets that have a Four Seasons Hotel in the country. Tie in or special deals for Four Seasons Singapore could be promoted to current guests in other Four Seasons Hotels. Marketing fee here is used to fund the marketing effort in emerging markets. The marketing expense is $27.33 per available room and is 14% of the estimated net profit of $18 355 300. 11. Marketing Organization Our Director of marketing, Cristina Dolendo, is responsible for the execution of the plan. She would work closely with the director of PR for all our promotional and public relations activities 11.1 Implementation Product wise, for the rooms, the marketing department must try to promote our rooms by providing pictures as well. With the renovated rooms, we could increase the chance of purchase as they get to see how our rooms look like. The amount budgeted for photography is increased by 30% in the proposed marketing plan from 2008 to $17200 in 2009. The marketing department has to liaise with the finance department to better understand the hotels financial goals and come up with promotions. Given weak demand in the current market, the shift could be made from profiting from margins to generating revenue by volume. We will also continue to work on our customer relationship. The marketing department’s job is to get the guest in for the first time and its up to operations to ensure the guest returns in the future. Interdepartmental communication is important and training has to be continuous to ensure that departments are communicating effectively. The marketing team has to also keep a lookout for emerging markets to tap. As Orchard area is being actively promoted by the local tourism board, the marketing department should tie in with their promotions and highlight the close proximity of the hotel to shopping centers. The plan will be ongoing and will be flexible to changes especially in the external environment. It will be altered and tweaked in order to react to these changes. Figures with regards to sales and effectiveness will be monitored using past results versus the actuals. 12. Control Taking into consideration the economy, in view of a slow recovery, the net profit forecasted for 2009 is considerably lower that the past years. Although unlikely, should a competitor emerge, our differentiation strategy will still be the appropriate. With our reputation, we will build on this to ensure we increase market share Reflexive Account The first step that I undertook for the project was research. Since my project was on my organization, a fair bit of research was needed. I wanted the project to be realistic and wanted it to be something that my marketing department will find worth considering. The Business mission was something that was explicitly stated on the website. The PEST analysis started it off and as the project progressed, finding and sorting relevant information was becoming a challenge. It would be easy to state my opinion in the PEST analysis but wanting it to be as realistic as possible, I had listed down many factors and by presenting it to the bosses, a general consensus was reached with regards to the factors affecting the hotel. Market analysis was a little easier to conclude as we are reminded daily of the market situation and we have to come up with ways to adapt to any changes. The whole section of the market analysis is a very real and current piece of information and finding articles to back these up were easy. The section of strategic issues analysis, I was under the impression that my marketing department would have all the relevant data but unfortunately they did not. Had to sit down and discuss these issues. I asked one of the sales managers if they had a copy which they can refer to but unfortunately only a few people have access to the marketing plan. Only the instruction are handed down but no one gets to see the whole plan. This is something I feel must change as the whole organization must know of the plan as There could be much to learn and feedback could be useful in order to tweak the plan should things do not go according to plan. Things got harder when asked what was our marketing objective. Many answered â€Å"its simple, its to make money†. This coming from a marketing person was quite unbecoming as I was expecting something substantial. Suddenly it felt that how can a marketing person say this as there are so many aspects to look at, besides making money. Thankfully someone from corporate office was able to help. She was also able to guide me on the core strategy. Moving to Marketing Mix decisions, again I turned to our marketing department for an opinion and some of them could not understand what I was asking. They vaguely remember that they studied this is school and have long forgotten them. Everyone one was caught up with daily operations and chasing new business that they had forgotten the basics. This led me to understand why we have some of the clients we have. Since we cater for the luxury market, it suddenly seemed that we are after every market that has a potential for revenue. We were slightly altering our prices to fit to the needs of the market rather that catering for the market that could afford us. Worse still in the current business situation where, every source of revenue is precious. Suddenly the well laid out marketing plan did not seem relevant as we are not following it. Went back to my marketing colleagues to ask if they felt the same way. Their answer being â€Å" we have no choice†. Some felt that the plan for the coming year which is done at the end of the current year is just an exercise that is done to satisfy the requirements. This is such a waste when looking at the textbook, where there is so much analysis into every aspect but in reality, people are not making it work. I feel that for organizations like mine, the yearly marketing plans must be fully flexible so that it can be altered and it should be shared company wide, reasons being that we as a organization would know the direction and those who come up with the plan will be more realistic. Research Papers on Marketing Plan = Hotel IndustryAnalysis of Ebay Expanding into AsiaNever Been Kicked Out of a Place This NiceDefinition of Export QuotasThe Fifth HorsemanPETSTEL analysis of IndiaTwilight of the UAWOpen Architechture a white paperThe Project Managment Office SystemMarketing of Lifeboy Soap A Unilever ProductBionic Assembly System: A New Concept of Self

Saturday, November 23, 2019

How to Sound Smart When You Have Nothing to Say

How to Sound Smart When You Have Nothing to Say You’ve all been caught in a conversation or meeting where you really,  really have no idea what’s going on, right? You try to understand the gist of the topic, but you keep drifting. And then†¦it’s your turn to speak.  What can you do to say something coherent  in order to seem cool, collected, and competent? Here, New York Magazine gives stellar advice on how to give the impression that you are aware, awake, and interested in any topic.

Thursday, November 21, 2019

Protection and Security of a Company Essay Example | Topics and Well Written Essays - 1500 words

Protection and Security of a Company - Essay Example Securitization of information helps the organization to achieve its goals in an effective and efficient manner. If an organization fails to securitize information then it would face difficulties in both the short and the long run. Organizational efficiency suffers in scenarios where data is lost, destructed or fabricated. Hackers and malicious codes might affect the overall performance of the data and this affect the organization. Viruses are not only a threat for data security but in order to protect and secure an organization's data a solution or an effective data recovery and backup plan must be maintained by an organization. Security analysts are hired to maintain security in an organization both internally and externally. Security control procedures are essential to every organization and every organization usually devises a strategy on how to monitor and control its security issues. The element of data security involves a request message at a network node and on the intermediate level (Lehtinen & Gangemi, 2006). Then this request message is linked with the total number of data packets that are emitted from a communicating device. Organizations must develop a comprehensive set of instructions and procedures in order to assess the effectiveness of security controls that are implemented in the computer systems. ... In order to securitize the data all the security procedures must be implemented effectively and they should fulfill all the security requirements. Security control procedures must continuously check the changes that are taking place in the information systems and should frame the security procedures accordingly. Proper planning and strategy must be developed when preparing the procedures of security within an organization. Disruption can cause serious threats to security and it might result in data loses and malfunctioning of information. Lack of retrieving valuable information or data errors can create havoc for any organization and it might result in losses to the company in the long term. Security control procedures must be designed in such a way that they must provide a proper backup to the data (Carr & Snyder, 2006). A firewall must be installed for eliminating external threats like hacking, viruses etc. Disruptions are the most dangerous threat to data security because data can be damaged and fabrications in the data can be lethal to an organization. In the scenario of destruction a proper back up plan on storage devices is the ultimate remedy of this problem. Moreover, data backup should be placed online and to secure places. Security control procedures of nearly all the organizations revolve around the idea of maintaining backups for data prior to destruction. However, conventional organization s rely heavily on data backups through physical devices but this won't stop data from destructing in the long run because a disaster like flood or an earth quake can ruin all the devices and storage capacity of the data (Bishop, 2002). Therefore, organizations must maintain

Tuesday, November 19, 2019

EMPLOYERS DO NOT ADOPT HR POLICIES IN AN INTEGRATED AND PLANNED WAY, Essay

EMPLOYERS DO NOT ADOPT HR POLICIES IN AN INTEGRATED AND PLANNED WAY, AND THEREFORE LOSE OPPORTUNITIES TO IMPROVE BUSINESS PERFORMANCE - Essay Example There has been a change of approach in the way that labour is reviews in the organisation and the modern perception emphasize on viewing labour as an investment and not as a commodity or resources. In this regard, labours has stared to be seen as a made of creative and innovative social being who are able to give the organisation a competitive edge. (Michael 2006, p. 42) The term human resource has been changing to broader management and the concept of human capital has been applied more often in place of human resource. Therefore the modern perception of human labour has been changing the way organisation have been handling their human capital to a more liberalized way. It has been realised that having a competitive workforce can be an important way which can ensure that an organization creates a competitive edge that other organisation may find difficult to replicate. Therefore the focus of modern human resource management has been looking at the ways in which the workforce can be motivated in order to have a more competent and motivated workforce. This has been shown to translate to a more productive workforce who increases the productivity of the organisation. This is because intellectual capital has been shown to be more important that financial capital that an organisation invests in its operation. The modern focus of human resource management

Sunday, November 17, 2019

Video Games Affecting Children Essay Example for Free

Video Games Affecting Children Essay Video games around the world have become immensely popular, a multi-billion dollar industry. An industry which revolves around the wants and desires of children and teens. An industry with a creation of unique entertainment like no other. An industry that continues to grow rapidly. Hours and hours are spent each day by youths playing these games, but are they really good for them? Are they educational? Games which educate a child’s mind exist but they wouldn’t be as popular as your top seller shooting game. Nowhere even close. Here I am today to tell, to inform, and to enlighten parents on the dangers of letting your child play these violent games. As a child, I found that my parents seemed to push away all sorts of violent games, no matter how badly I wanted them. It didn’t seem to make sense at first but as I grew older, I saw the younger generation getting addicted to games like these and without doubt, showed a different behaviour and attitude. In this modern age, a child or teen is quite likely to have a gaming console or access to the internet or a friend who does. With these, they can play or access games which may contain violent content. As youths play these games in excess, they tend to act out what they may see or hear in front of their friends and family. It gives them a tendency to act aggressive and violent. They learn new things, like bad language. They may use foul language against their friends and possibly repeat violent stunts at home. These games are full of foul language, bloody scenes and criminal behaviour. It gives them a prospect for confrontation with peers, with siblings, with parents and even with their teachers. They engage in fights which in turn could cause possible decline in their studies. They could even brush aside their school work to sit in front of a television because it’s like an addiction to them. The question is: should parents be encouraged to disallow their son or daughter to be entertained by these types of video games? The answer is up to you, as parents. It is up to you to observe whether you see a change in attitude among your kids and if in a negative way, then you should take action in order for your child to behave in an appropriate manner among people. Games like these are everywhere, so your child will grow up in an environment where they will play them. Although, it is always recommended to look at the age rating of the game before you buy it, to see whether or not your son or daughter fits into the category of restriction. You can even set limits on how long they should be allowed to play games, just so they don’t get too involved with the theme of the game. It’s absolutely paramount for a child to grow up in a positive environment. In my opinion, games that involve the likes of drugs, bloodshed, criminal behaviour, foul language and violence should not be banned, but put into higher restriction everywhere. There should be more age limitations and games that involve hostility at a lower level. So parents, do you know what games your children are playing? Have a look.

Friday, November 15, 2019

Democracy is NOT Right for All Nations Essay -- Politics Government

Is Democracy the Right Thing For All Nations? No, Democracy is Not Right For All Nations. Merriam-Webster defines the word Democracy as a government by the people, rule of the majority, a government in which the supreme power is vested in the people and exercised by them directly or indirectly through a system of representation usually involving periodically held free elections. It is a government designed for the peoples choice for their ruling of themselves and others within their community or even nation over political, economic, and matters for the well being of their survival. A democracy is a great thing that can be perfected with a perfect nation, unfortunately a perfect nation is as hard to build and come by as a banana slug's climb is up the 1,860 steps of the Empire State Building in New York City. Democracy is not the best form of government for all nations. Nations can be divided into two separate categories when it comes to economically balanced countries, first-world countries and third-world countries. In a first-world country, such as the United States of America(democracy), Canada, Great Britain, and most of modern-day Europe, the country is "successful" in its attempts to survive with profitable results in keeping their countrymen without famine, wide-spread disease, and poverty by exporting more goods then they import and by having a governmental system that works for the people by means of the government looking out for them and having the welfare of people in mind. In a third-world country the economy is underdeveloped and basically has no where to go but up in that sense. These countries are poverty stricken, disease ridden, environmentally depleted, and full of war and violence deep within itself a... ... people things that sound unimaginable to them and will most likely get elected for it just so they could win with the race with the steroids of lies and deceit. Democracy is not a just thing for a nation like this. Our democratic society has reached a level of advancement in society, economy, and technology where we hold a standard to even the most basic things so how can a nation that would see a value meal from McDonalds as a 5-Star dinner survive under the same democracy we do? Democracy is a great thing and freedom, not even a question, but not all nations have the ability to use it, understand it, and fully reap its benefits. A democratic nation needs to have the knowledge to comprehend its economic problems and their solutions and the strength keep a firm hold of itself with the help of its people and as of know, not all nations are capable of doing that.

Tuesday, November 12, 2019

Physico-Chemical Properties of Dna

DNA, as we all know, is esteemed with the title of ‘Master Molecule ’. The three letters of DNA denotes of deoxyribonucleic acid . Now the thing that we ponder on is why DNA is so important to us. Why are the researchers & scientist persistently working on DNA? Why it is so important to know the tiniest details of DNA structure and function.? The simplest answer for â€Å"Why Is DNA Important? † is that DNA is the prerequisite for life’s inception. Firstly, it transfers hereditary information from generation to generation. Secondly, it controls the production of proteins. DNA even determines the structure of the cell, meaning whether it would be a nerve cell or eye cell etc. Our DNA seems to be ultimately responsible for the size, shape and function of every protein that our bodies make. Similarly, the DNA of each plant and animal seems to be ultimately responsible for the size, shape and function of every protein that each of them makes. We will now take a small overview on history, physical properties , chemical properties of DNA. Overview on History : DNA was first isolated by Friedrich Miescher , who in 1869 discovered a microscopic substance in the pus of discarded surgical bandages that he called ‘NUCLEIN’ Finally in 1953, working together at the University of Cambridge in England, James Watson, an American scientist, and Francis Crick, a British researcher, made a major scientific breakthrough when they discovered the famous â€Å"double helix† – the structure of DNA, the molecule of life. In 2000 , a rough draft of a map of entire human genome was completed. In 2003,the final draft was completed . This information is being used to understand and function of disease. An interesting fact is If we unwrap all of the DNA of one individual’s body cell , we could reach the moon ! Physical Properties In living organisms such as humans, DNA exists as a pair of molecules rather than a single molecule. These strands are entwined in the shape of a double helix and the helix is kept stable by hydrogen bonds, which can be found between the bases attached to the two strands. A long polymer, DNA is made up of smaller units called nucleotides. In turn, each nucleotide consists of a phosphate group, a sugar and a nitrogenous base. two helical chains each coiled round the same axis, and each with a pitch of 34  A and a radius of 10  A According to another study, when measured in a particular solution, the DNA chain measured 22 to 26  A wide, and one nucleotide unit measured 3. 3  A (0. 33  nm) long * Base Pairing 1. Base pairing is a defining property of DNA and was particularly exciting when it was first discovered because it suggested the ‘copying' mechanism for DNA. 2. In DNA, bases are specific in that an adenine base, for example, only pairs with a thymine base. Following on that premise, a cytosine base will only bond to a guanine base. This base pairing is also known as complementary base pairing. * DNA Grooves DNA has two kinds of grooves that play important roles in its functioning. 1. Major and minor grooves are structures to allow for necessary proteins in your body to make contact with bases. You might wonder what makes it so important for proteins to attach to the bases. * DNA Supercoiling If you try to picture a rope, you can get a visual image of DNA supercoiling. 1. This coiling is a central property of DNA. DNA can be in a relaxed or coiled state and it is this coiling that allows our extremely long strands of DNA to fit or ‘pack' into the comparatively much smaller cells in our bodies. * DNA Conformations DNA can exist in different conformations and these are important for a range of DNA mechanisms. These conformations interact with enzymes in your body and are also involved in aspects such as DNA repair. * Temperature As thermal energy increases, the frequency of hydrogen bonds breaking between the molecules increases. The Tm (melting temperature) of a DNA molecule is the temperature in which half the DNA molecules are denatures * DENSITY A. Density can be measured by CsCl-density ultracentrifugation B. Density can be used to estimate G+C content C. Density studies show the existence of satellite DNA * pH pH is lower then one result in the breakage of phosphodiester bonds between nucleotides and breakage of the N-glycosidic bond between the sugar and purine bases . H of around 4 results in the selective breakage of N-glycosidic bonds between the sugar and purinesBase tends to change the polarity of groups involved in hydrogen bondsDNA is resistant to hydrolysis to about pH 13 * DENATURATION: DNA is considered denatured when the double stranded DNA molecule is converted into two single stranded molecules CHEMICAL PROPERTIES A nucleoside is made of a sugar + a nitrogenous base. A nucleotide is made of a phosphate + a sugar + a nitrogenous base. In DNA, the nucleotide is a deoxyribonucleotide (in RNA, the nucleotide is a ribonucleotide). * Phosphoric acid Gives a phosphate group. * Sugar: Deoxyribose, which is a cyclic pentose (5-carbon sugar). Note: the sugar in RNA is a ribose. Carbons in the sugar are noted from 1†² to 5†². A nitrogen atom from the nitrogenous base links to C1†² (glycosidic link), and the phosphate links to C5†² (ester link) to make the nucleotide. The nucleotide is therefore: phosphate – C5†² sugar C1†² – base. * Nitrogenous bases: Aromatic heterocycles; there are purines and pyrimidines. Purines: adenine (A) and guanine (G). – Pyrimidines: cytosine (C) and thymine (T) (Note: thymine is replaced by uracyle (U) in RNA) The backbone of the DNA strand is made from alternating phosphate and sugar residues. [10] The sugar in DNA is 2-deoxyribose, which is a pentose (five-carbon) sugar. * The sugars are joined together by phosphate groups that form phosphodies ter bonds between the third and fifth carbon atoms of adjacent sugar rings. * These asymmetric bonds mean a strand of DNA has a direction. In a double helix the direction of the nucleotides in one strand is opposite to their direction in the other strand: the strands are antiparallel. The asymmetric ends of DNA strands are called the 5? (five prime) and 3? (three prime) ends, with the 5†² end having a terminal phosphate group and the 3†² end a terminal hydroxyl group. The DNA double helix is stabilized primarily by two forces: hydrogen bonds between nucleotides & base-stacking interactions among the aromatic nucleobases Role that DNA plays in life: DNA is the blueprint of biological life from its inception to its growth and till death. Its discovery has not only revolutionized science and medicine but it has affected all walks of life; whether they are social, legal, criminal or inheritance related. DNA’s discovery has become important to the extent that it has even influenced a nation’s security parameters / concerns, as scientists have gone all the way to developing biological weapons. Genealogy:The study of ancestry, depends on the study of DNA. With the help of verbal and written history, and cues from DNA testing, one can trace his ancestors and learn about his family tree. Forensic science and its applications:DNA is an important part of it. It has resulted in many breakthroughs in criminal cases as it can be used to trace the criminals by comparing the DNA samples found on the crime scene with those extracted from the suspects. Agriculture: Scientists have used this knowledge to improve the food products and crops by genetically modifying them and making them more powerful to fight diseases. Some really Interesting information about DNA! * 99. 9% of our DNA sequence is the same as other humans. This 0. 1% DNA difference between us may have to do with the number of nucleotides in a person’s DNA! When DNA is copied into a new life , the nucleotides are either gained or lost in the process. This gain or loss results in our differences ! * It would take a person typing 60 words per minute, 8 hour a day, around 50 years to type the human genome! * Our entire DNA sequence is called a genome and there’s an estimated 3000,000,000 DNA bases in our genome! * A complete 3 billion base genome would take 3 GIGABYTES of storage space. * Our entire DNA sequence would fill 2001,000 pages! * Human and Chimps share anywhere between 94-99% of their DNA! * According to a recent research ,humans have at least 1-4% NEANDERTHAL DNA . At some point HOMOSAPIENS and NEANDERTHAL mingled and mated! References * Alberts, Bruce; Alexander Johnson, Julian Lewis, Martin Raff, Keith Roberts and Peter Walters (2002). Molecular Biology of the Cell; Fourth Edition. New York and London: Garland Science. * Wikipedia- http://en. wikipedia. org/wiki/DNA * Watson J. D. and Crick F. H. C. (1953). â€Å"A Structure for Deoxyribose Nucleic Acid† (PDF) * T. M. Devlin's Textbook of Biochemistry 7th (Seventh) edition(Textbook of Biochemistry with Clinical Correlations (Textbook of Biochemistry w/ Clinical Correlations) [Hardcover])(2010)

Sunday, November 10, 2019

Genetically Modified Food Should Be Limited Essay

Cigarettes and alcohol belong to the products with unhealthy substances which annually kill thousands people over the world. Many countries try to solve this global problem through the various campaigns or controversial advertisements. Governments attempt to make people conscious of all negatives of these products. However, this is not a case of genetically modified food. A lot of people are unaware of the content of genetically modified food, which they have been buying and eating every day for several years. New kinds of allergies or various types of diseases star spreading in some countries and a lot of people can not find any reason for getting them. Genetically modified food should belimited because of negative effects on environment, economy, people and society. Lack of information about genetically modified food causes that people do not have any possibility to make the same informed choice; therefore, this nontraditional food should have some limits. There are still a lot of people who have no idea about products which they buy and consume. When people go shopping to supermarkets, they can find great looking fruit, vegetable or meat; however, they can not see a label of GMF. For example, the US is one of the countries which do not require labeling. According to Britanny Shoot (2009), â€Å"the governmental and industry opposition to mandatory labeling has long been rooted in several arguments:† that production cost would be rapidly raised by labeling because of other monitoring of facilities; â€Å"that GM labels will signal safety or nutritional problems for consumers only accustomed to seeing nutritional information on labels and should therefore not be included† and that other labels â€Å"GM† and â€Å"GM-free† would be required. Therefore, production of genetically modified food should have some boundars if there are still countries in which people are not informed about this harmful food. Another point is that, genetically modified food could trigger a lot of different kind of diseases. When scientists have discovered GMF, it was progress in not only science but also sociaty. However, the first illnesses have appeared, since selling of genetically modified food spread over the world. For example, different kinds of allergies or cancers are the most dangerous diseases which could be caused by genetically modified food. According to Myron Stagman, PhD (2006), genetic modification avoid Evolution`s safeguard and can lead to growth of pathogens which often cause recorded, but unpublicized fatal disease epidemics. So people can suffer from some disease without consciousness that it could be caused by GMF. There is an untested virus gene in some GMF that could be toxic and harmful to not only people but also animals. (cited in Virus in GMF, 2013). Therefore, people could not be sure of effects of genetically modified food which they eat. In summary, this nontraditional food should not be without limits. It is also remarkable that genetically modified food could have negative effects on economy. There is a decrease in United State maize exports to the European Union from the beginning of production of GM crops. â€Å"Experts went a high of 2.8 million tons in 1995-96 to virtually nothing during 2000-01. That is a dramatic economic impact on U.S. farmers.† This is information from the source (C. Frompovich 2010). So production of genetically modified food could be slack and incapable to bring yield in some countries. GE crops, which are used commercially, do not support growth of the yield potential of a variety. They might even decline. â€Å"Perhaps the biggest issue raised by these results is how to explain the rapid adoption of GE crops when farm financial impacts appear to be mixed or even negative.† This is information from the source (GMF – renewed, 2008). Thus, genetically modified food should disappear from the market or be limited. Another claim is that genetically modified food may cause environmental dangerous changes. These shifts are related to not only people but also other organisms. An increased level of estrogen is caused by glyphosate, which is used in crops as resistance to weed. It could have harmful and long term effects on all mammals, including people which are very sensitive to the raised rate of estrogen. This is information from the source (Top 10 dangers of GMF, 2009). So, this nontraditional food can contain toxic substances which could cause to some animals harmful effects or deaf. According to Deborah B. Withman (2002), a lot of butterfly caterpillars die because of pollen from b.t. corn. The problem is that butterfly caterpillars which do not eat corn, but milkweed plants, could die because â€Å"pollen from b.t. corn is blown by the wind onto milkweed plants in neighboring fields.† Thus, genetically modified food and his production should be limited. However, the low cost of production and lower selling prices for more food stimulate a lot of people to consider this nontraditional food as the potential solution to the lack of food or even hunger. Therefore, there are still a lot of exponents, who believe that genetically modified food is very beneficial for human beings. While they can be right, there are still a lot of negatives of this controversial food. Some studies have shown that this nontraditional food can cause problems with human digestive system. The incorporation of some substances can interact badly with one another in food. In addition, GMF could cause poisoning, because the modification of certain genes could produce plant substances whichare difficult to digest at all. It is true that genetically modified food could be a solution of hunger and can help in case of the lack of food, but actually this nontraditional food could have several negative effects. Therefore, it should be limited because of negative impacts on humans, their health, environment and economy. It is usually good to invent something new but an advance for scientists do not have to be an advance for all humans. Reference Brittany Shoot (2009, November 25). GMO or No: Problematic Intersections of Religion, Biotechnology, and Food. Retrieved February 16, 2013, from Religiondispatches: http://www.religiondispatches.org/books/2018/gmo_or_no__problematic_intersections_of_religion__biotechnology__and_food__/ Stagman, M. Phd. (2006). GMO Disease Epidemics: Bt-cotton Fiber Disease. Retrieved February 16, 2013, from Portland: http://portland.indymedia.org/en/2006/08/344305.shtml Virus in GM food could be dangerous. (2013, February 8). Retrieved February 12, 2013, from Unknowncountry: http://www.unknowncountry.com/news/virus-gm-foods-could-be-dangerous Catherine J Frompovich. (2010, June 23). Economic Issues Surrounding Genetically Modified Foods. Retrieved February 15, 2013, from Infowars: http://www.infowars.com/economic-issues-surrounding-genetically-modified-foods/ Genetically modified (GM) foods – renewed threat to Europe. (2008, December). Retrieved February 16, 2013, from Bangmfood:http://www.bangmfood.org/publications/4-short-leaflets/1-10-reasons-why-we-dont-need-gm-foods Top 10 dangers of genetically modified food. (2009, April). Retrieved February 15, 2013, from Invigorate306: http://www.invigorate360.com/reviews/top-10-dangers-of-genetically-modified-food/ Deborah B. Withman. (2000, April). Genetically Modified Foods: Harmful or Helpful? Retrieved February 15, 2013, from CSA: http://www.csa.com/discoveryguides/gmfood/overview.php.

Friday, November 8, 2019

Governor Andrew Curtin essays

Governor Andrew Curtin essays The American Civil War probably receives more notoriety than any other war in American history. Though most people have come to understand the War to be a Union victory over the institution of slavery and the Slave Power, the credit for this accomplishment is mostly given to Abraham Lincoln or the abolitionists. The unsung heroes of the Civil War are the War Governors, the most prominent of them being Andrew Curtin of Pennsylvania. Curtin's contributions to the war are significant because they helped develop a loyal and nationalistic culture in the state of Pennsylvania that would be displayed throughout the duration of the War. Furthermore Curtin had a strong relationship with President Abraham Lincoln. Curtin used this relationship to keep ties with the Union strong throughout his state. Further contributions of Curtin's include the establishment of the Pennsylvania Reserve Corps and also a conference with the Loyal Governors Known as the Altoona Conference in which Curtin would he lp coral more Union support against the rebels. Although Andrew Curtin did not fight in any particular battles, his contributions to the war effort transcend the battlefield as he was able to develop a patriotic spirit in his state of Pennsylvania which aided the war effort. The year of 1860 witnessed the greatest political revolution of our national history. At this point several changes had occurred in the market place and gave way to a new political culture. For a generation before, indeed from the passage of the Missouri Compromise in 1820, the constant agitation of the slavery question was gradually forcing profound convictions on the minds of thoughtful and earnest men, and while most of them retained their old party associations until 1856, the growth of the anti-slavery sentiment was steady, rapid and aggressive. These feelings toward the peculiar institution led to the emergence of the Republican Party in the mid-1850's. By 1860, the Republicans...

Tuesday, November 5, 2019

Intro to Creating Realistic Photo Textures in Games

Intro to Creating Realistic Photo Textures in Games One of the major challenges of current and next-generation game development is the creation of the massive number of art resources required to create an immersive game world. Character, environment, and other supporting models must be created, and levels must be shelled out and populated with those models. But while you may have a functionally-playable game at that point (with the addition of a tremendous amount of other programming and resource work), you are lacking color, depth, and physical texture in your world. Taking a game from a gray box prototype to a completed game, suitable for public viewing, requires a lot of work for artists to create textures and materials to give the game the feeling of being in the world youve created. Weve touched on this briefly in previous tutorials: The basic concepts of UV mappingApplying and painting textures for a modelManually editing UV map coordinatesCylindrical maps and dealing with seamsIntermediate-level UV mapping techniques In those exercises, we used simple example maps that were hand-painted, but not designed for production work, nor realism. In this series, were going to show you how to make realistic photo textures for your own games, and do so on a reasonable budget. The results you can achieve with a small amount of work may surprise you. Lets get started. There are three primary ways to create photorealistic textures for games. Photo reference/Hand painting. These are the original two techniques for creating game textures. This is the simple process of creating a bitmapped image for use in a game, whether created completely from scratch using a paint application, or converting a photo into a game-ready format. (Both of these techniques are not necessarily simple in actual practice, as youll see later in this article.) This can be very quick, or moderately time-consuming, depending on what sort of results you desire, and how much work youre willing to put in.Procedurally-created. This method relies on algorithms and pre-defined inputs (either photo or completely synthetic) to create tileable/seamless pattern materials. Tiled materials allow you to use a single, highly-detailed texture to apply to a large surface in the game world, and have it repeat along the entire object, without obvious seams where one instance ends and the next begins. This is potentially the most efficient way to create good materials f or your game, however, most procedurally-created materials are quite clearly computer-generated-although the algorithms are improving all the time. Used wisely, however, they can be a tremendous time-saver for areas of your game which dont need to stand up to close scrutiny. High-poly to low-poly model and texture conversion. This is the most labor-intensive of the three options. This is frequently used for high-detail character models, or environment art that will be seen at close range (for example, walls that the character shelters behind in a first-person shooter). To perform this technique, an artist creates an extremely-high polygon model, far greater than the game engine is capable of handling in realtime, and then uses software techniques to bake textures onto a lower-polygon version of the same model. This transfers the surface detail from three-dimensional polygon data into a painted texture on the lower-poly model. This may include normal, bump, displacement, specular highlight, ambient occlusion, and other map types to further create the illusion that the low-poly model has more detail than it does in reality. As you can imagine, the labor required to perform this process is extremely time and cost-prohibitive. The results can be spectacular, but you need to carefully assess whether this is necessary for your project. Most AAA games that are currently on the market for consoles use a combination of all three of these methods. You need to determine what is best suited for your project. If you are creating a more stylized game, hand-painted textures may be the way to go. If youre making a military first-person shooter, you are likely to use a lot of photo-based textures and high-poly models converted down with normal maps for maximum scene detail.

Sunday, November 3, 2019

Music and Bible in James Baldwin's Sonny's Blues Research Paper

Music and Bible in James Baldwin's Sonny's Blues - Research Paper Example Music also provides the context for which the narrator finally sees his brother for who he is at the end of the story while playing jazz music. The unnamed narrator of ‘Sonny’s Blues’ engages an estranged and strained relationship with his brother throughout the story. While each is not trying to out-do the other in terms of impressing other people or gaining acclaim of any kind as is the case in most conventional sibling rivalries, it is their opposing lifestyles and attitudes which are fighting against each other as the narrator cannot accept his brothers actions and constantly attempts to coax him into a more traditional and ‘normal’ lifestyle like his own as he does not understand Sonny’s self-destructive behaviours, â€Å""Tell me," I said at last, "why does he want to die? He must want to die, he's killing himself, why does he want to die?" (38). Though the narrator has largely ignored his troubled younger brother for many years, when he does reach out to him while in jail, their lack of communication is evident as the narrator realises that he does not really know his brother at all. His mother asks him to watch out for his brother, "You got to hold on to your brother," she said, "and don't let him fall, no matter what it looks like is happening and no matter how evil you gets with him" (104), but has not done so for years. At the beginning of the story, the narrator sees news of his brother’s trouble in the newspaper and it is only because of this report that â€Å"Sonny became real to [him] again† (Baldwin 3). The narrator enjoys a conventional and respectable lifestyle – he is married with a family, maintains a full-time teaching job and is a respected member of the community in which he grew up. In stark contrast with this, the younger brother Sonny, has engaged in drug use since a very young age and has been in trouble with the law consistently. Feeling extremely trapped in his life by fa cing obstacles typical of that of a black man in Harlem during the 1960s, Sonny represents the problems faced by that community at that particular time (Reilly 56). The dynamics of this relationship is greatly reflective of the biblical story of Cain and Abel from the book of Genesis (Tackach). In the story, Cain is portrayed as being extremely sinful and kills his brother Abel. Though an extreme comparison, the fundamental differences between Cain and Abel and the tensions this causes, reflect the difference between the narrator and his brother as Sonny appears to be corrupted with temptation and sin while the narrator enjoys a highly moral, acceptable and conventional lifestyle. From the very beginning of the story right through to the end, music plays an extremely fundamental and important role in this narrative. It is through music that the narrator finally understands his brother, feels his passion and sees his unique and positive qualities. When he first sees Sonny after his s tint in jail, he initially does not recognise him â€Å"Yet, when he smiled, when we shook hands, the baby brother I’d never known looked out from the depths of his private life, like an animal waiting to be coaxed into the light† (Baldwin 35). It is not until the very end of the story, when he and Sonny go to a jazz club

Friday, November 1, 2019

Financial Management by Timothy Gallagher and Joseph D Andrewsenior in Essay

Financial Management by Timothy Gallagher and Joseph D Andrewsenior in college - Essay Example Discounting the cash flows for each of the periods and summing them up, I determined that the NPV of launching a new product is equal to $1,000,570. The value is positive and quite significant, therefore, based on the NPV criteria the project should be accepted and the new product launched. However, if the company considers several mutually exclusive projects (for example, launching this product or investing instead in the new factory to increase the production of highly-demanded existing product etc.) and the NPV of this particular project is lower than of those also under consideration, it would be abandoned. The initial investment is equal to $1,000,000. The sum of the discounted cash flows for the first three years amounts to $807,801 $1,000,000. Therefore, the payback period is 3.62 years. Based on the Superior Company's policy of not accepting projects with life of over three years, the project of launching the new product under consideration should not be accepted. If the project required additional investment in land and building, it would increase the initial capital investment amount and consequen