What Keeps You From Self Actualizing Essay - 1250 Words

What Keeps You From Self-Actualizing? By Peter Vajda, Ph.D | Submitted On July 14, 2011 Recommend Article Article Comments Print Article Share this article on Facebook 1 Share this article on Twitter Share this article on Google+ Share this article on Linkedin Share this article on StumbleUpon Share this article on Delicious Share this article on Digg Share this article on Reddit Share this article on Pinterest Expert Author Peter Vajda, Ph.D Those familiar with Maslow s hierarchy of needs know that self-actualization - be all you can be - is the highest level human need (the needs in order from lowest to highest are: BASIC: physiological (health, food, sleep, sex, water, etc.), and security (of the body, of employment, of resources, of morality, of property; insurance, etc.). If basic needs are not met, there can be no movement towards self-actualization. Over and above the basic needs are the SOCIAL and PSYCHOLOGICAL needs: belonging (love, affection, friendship, family sexual intimacy, etc.), esteem (self-esteem, esteem from others, personal worth, social recognition, confidence, achievement, etc.) and self-actualization (morality, creativity, spontaneity, problem solving, lack of prejudice, acceptance of facts, etc.) According to Maslow s theory, if you want be on the path of true self-actualization, you need to take care of your BASIC needs first. That is, if you re hungry, you need to get food. If you feel unsafe, you constantly have to be vigilant and onShow MoreRelatedLife Style Inventory1604 Words   |  7 Pagesstyle is Self-actualizing and I can totally see myself through the description of this thinking style. The self-actualizing thinkers are characterized by an unusual high acceptance of self, others and situations â€Å"as they are.† They have a strong interest in working to become everything they are capable of being. They have a sense of self-worth, a strong curiosity about people and things, and an acute awareness of both their own and other’s feelings. Self-actualized people are freed from the beliefRead MoreLsi Assignment1533 Words   |  7 Pagesprimary personal thinking styles fell into the groups of achievement and self-actualizing. In these groups I receive d my highest scores of 95%. Achievement, the first category, says a lot about what drives me in my personal life as well as my working life. I have always been driven to succeed in my endeavors. I didn`t actually realize this potential in myself until after high school. Up until that point I was satisfied to just do what was expected of me. When I got my first job at eighteen years old,Read MoreCase study week 6 Essay example944 Words   |  4 Pagesï » ¿ Principle of Management Week 6 Assignment Loan Ly Professor Baker DeVry University 10/7/2014 1. According to Maslows hierarchy, which basic needs does the Patagonia culture meet? What would it be like to work at Patagonia? (Hint: Go to Patagonia’s website and find the section on jobs.) What’s your assessment of the company’s work environment? (20 points) 1. The five level of Maslow’s hierarchy of needs Physiological Needs These include the most basic needsRead MoreHigh School : Highest Potential1829 Words   |  8 PagesAfter gathering what I have learned, it turns out most people want to live their life to the fullest by becoming all they can be. To reach this fulfillment of a higher/better self is known as self-actualization. A major problem for many people today is reaching their full potential, although the potential already lies within them. Everyone has the power to succeed and to become self-actualized. All it takes is to become an optimistic, realistic, and problem centered individual. So what is stealing people’sRead MorePersonal Statement : Psychology And Sociology1902 Words   |  8 PagesAfter gathering what I have learned, it turns out most people want to live their life to the fullest by becoming all they can be. To reach this fulfillment of a higher/better self is known as self-actualization. A major problem for many people today is reaching their full potential, although the potential already lies within them. Everyone has the power to succeed and to become self-actualized. All it takes is to become an optimistic, realistic, and problem centered individual. So what is stealing people’sRead MoreWho Are You1173 Words   |  5 Pagesyou Who are you? Who am I? This question has often been asked during the growth of everyone. When we were young, studying in the kindergarten, we would probably answer the teacher with your name. But at the moment, I will think deeper than just the name given by my parent. We all have a different answer for a different age of ourselves, maybe when I become older I will change my answer again. The reason why we have different answers towards this question is because of the interactionRead MoreAbraham Maslow s Influence On The Human Psyche1660 Words   |  7 Pagesnot an easy task to achieve. Abraham Maslow was born on April 1 in 1908 in Brooklyn New York. He comes from a Jewish background with his parents coming from Russia as immigrants to the United States of America. Maslow’s childhood was not a good or easy one as one would think of such a successful person. His father and mother more times than not often ill treated him, which led to his poor self esteem. Maslow often isolated himself as a child to avoid confrontations, and judgements. His father wouldRead MoreLife Styles Inventory ( Lsi )1310 Words   |  6 Pages Life Skills Inventory Analysis Who are we? How do we think and behave? What is the impact of our thinking and behaving styles professionally and personally? How do we change these styles? These are the questions we ask as leaders. The Life Styles Inventoryâ„ ¢ (LSI) is a tool designed to answer these questions. It is a tool â€Å"used to identify a person’s strengths and improvement areas focusing on beliefs, values, behaviors and assumptions about yourself† (Human Synergistics International, 2010). AfterRead MoreWhats Personal Motivation Essay876 Words   |  4 PagesExternal motivation comes from outside of our own brain. When you want to do a job because it will impress someone, or because youll receive a prize for it, or because youll be punished if you dont--thats an inducement that comes from outside your internal value system. Internal motivation is the driving force that comes from inside us, and causes us to do a good job because we feel good about ourselves when we accomplish something . When we are internally motivated, we operate according to ourRead More‘’Evaluate the Claim That Person-Centered Therapy Offers the Therapist All That He/She Will Need to Treat Clients’’2428 Words   |  10 Pagescoming from. As therapists, we should be careful not to come across uncaring machine that turns statements into questions in a similar way as the computer program ELIZA developed by Joseph Weizenbaum of the Massachusetts Institute of Technology. Rogers recommended that a Rogerian therapist repeat or paraphrase a clients thoughts, in order to insure comprehension. It is mostly a valuable technique, but can also seem that therapy is sometimes reduced to the sterile technique of echoing what a client

The Death Penalty - 1347 Words

The concept of the death penalty has been around since the 1700’s B.C. where it was first defined in the Code of Hammurabi (Historical Timeline). Since then, the death penalty has morphed and changed. In 1608 A.D., Captain George Kendall in the Jamestown colony of Virginia was hanged for treason (Historical Timeline). This became the first execution recorded in America (Historical Timeline). After this moment in history, people have debated the concept of the death and if it is truly constitutional in regards to the other amendment. The first case that the Supreme Court ruled on that shaped the modern death penalty is Furman v. Georgia. On June 29, 1972, the Burger Court answered the question â€Å"Does the imposition and carrying out of the†¦show more content†¦The question of the Gregg vs. Georgia case was â€Å"Is the imposition of the death sentence prohibited under the Eighth and Fourteenth Amendments as cruel and unusual punishment?† (Gregg v Georgia). I n a ruling seven-to-two, the courts’ ruling was that the death penalty did not violate the Eighth and Fourteenth Amendment under all circumstances (Gregg v Georgia). Because of the strict guidelines around the death penalty in Georgia, which include the requirement bifurcated proceeding, where the trial and sentencing are conducted separately, and that prior death sentencing is compared to the current trial in questions, â€Å"the state assures the judicious and careful use if the death penalty† is chosen (Gregg v Georgia). After almost a decade of no death penalty rulings, the execution of Gary Gregg stopped the state s concern about ruling this punishment. One of the biggest effects that the Supreme Court has had on the death penalty is their rulings that affect the jury. The two cases that have affected the jury the most are Witherspoon v. Illinois and Hurst v. Florida. In Witherspoon v. Illinois, which occurred on April 24, 1968, the Warren Court decided whether di smissing a juror on the basis that they are against capital punishment is a violation of the Sixth Amendment which guarantees the accused an impartial jury and the FourteenthShow MoreRelatedThe Death Penalty Is Justified1143 Words   |  5 PagesAllison Shu 2/25/16 Period 2 Objective paper on the death penalty Capital punishment is legally authorized killing as punishment for a crime. The death penalty questions the morality of killing a person as justification for their crime. It also brings to question whether the death penalty actually serves as a deterrent for crime, and that some of the people executed are found innocent afterwards. The debates over the constitutionality of the death penalty and whether capital punishment should be usedRead MoreThe Death Penalty For Juveniles946 Words   |  4 Pages The death penalty for minors differs greatly from the death penalty for adult. The law that minor could be put on death row was decided to rule against the eighth amendment. The eighth amendment prohibits the act of â€Å"cruel and unusual punishment† which putting minors on death row breaks. On March 4, 2005 the law that minors could not be put on death row for their actions was set into place. The new laws say, â€Å"They cannot punish a minor by death penalty and they cannot punish someone for a crimeRead MorePro Death Penalty Speech1482 Words   |  6 Pagesintroduce myself before we get started. My name is Slick Perry and if you didn’t already know, I am the state governor of Texas. You are all aware that we are reviewing our recidivism rate to various crimes and reviewing our stance regarding the death penalty as we approach 2009. Everyone here understands that capital punishment is a very controversial topic in the United States. In Texas, from December 1982 through August 2008, only 361 criminals of the millions of Texans in our good state were executedRead MoreThe Truth About The Death Penalty973 Words   |  4 Pages In her article â€Å"The Truth About The Death Penalty†, Carina Kolodny argues that the death penalty should be abolished in all fifty states due to the fact that it is ineffective and very expensive. Kolodny believes that capital punishment has too many complications and variables that cause it be more of an issue than a real solution for capital offenses. She proposes that the death penalty should be dropped and exchanged for better programs such as Proposition 34, which replaces capital punishmentRead MoreShould The Death Penalty Be Mandatory?925 Words   |  4 Pagesopinions on the subject. When we were discussing the death penalty although my opinion didn’t change, after hearing what some of my classmates had to say about the subject during our lab I was able to respectfully see why they had those thoughts and feelings about the subject. I believe that we should have the death penalty, and that it helps prevents more crime from happening. However, during our lab students that thought we should ban the death penalty had some pretty interesting reasons behind theirRead MoreThe Death Penalty Should Be Legal1805 Words   |  8 Pagesthat we all know is the death penalty. This penalty has been going around for years. To many people it might be the best way of punishing a person. On the other hand there are people who think that if you kill a person you should be sentenced to die as well. For me I would say it might not be the best way and it not working as many would like it. When choosing if you are for the death penalty you have to okay with an insect person dyei ng or even a family member being in death row. I know that is somethingRead MoreThe Death Penalty : An Effective Reliable Tool904 Words   |  4 Pagesthe death penalty has been a frequent topic of discussion, as our recent technological advancements have evidently led individuals to consider the â€Å"new found† legitimacy of our court systems, as statistics display that our previous racial bias and the apparent morality of the practice itself have a miniscule impact on our conviction rate. Both the advancements and ethics that the death penalty provides become apparent through the utilization of anecdotes and statistics, as the death penalty has prevailedRead MoreThe Bible and Death Penalty Essay example812 Words   |  4 Pagesa person’s view of the Bible influence what they think about the death penalty for murderers.† I would like to see if a person’s view of the bible influence what they think of the death penalty. This is interesting to me because I am interested in the field of criminal justice and the death penalty is a huge topic to this day. There are many journals that talk about studies that were done on religion and views of the death penalty which have to do with my topic of interest. My hypothesis is thatRead More The Death Penalty Is Archaic and Immoral Essays559 Words   |  3 Pages The death penalty is simply a modernized version of the Holy Bible’s â€Å"an eye for an eye, a tooth for a tooth, a hand for a hand, a foot for a foot†. Some argue that death is a necessary retribution for murderous cases - but is it effective morally? Revenge only glorifies violence, which is most definitely not the message the world strives to display. The death penalty is a negative form of punishment and insinuates a harsh reflection of society economically, politically, and socially. Read MoreEssay on Death Penalty - Herrera vs Collins1337 Words   |  6 PagesDeath Penalty - Herrera vs Collins The Supreme Court addressed the constitutionality of executing someone who claimed actual innocence in Herrera v. Collins (506 U.S. 390 (1993)). Although the Court left open the possibility that the Constitution bars the execution of someone who conclusively demonstrates that he or she is actually innocent, the Court noted that such cases would be very rare. The Court held that, in the absence of other constitutional violations, new evidence of innocence is no

Factor of Project Management Activity †MyAssignmenthelp.com

Question: Discuss about the Factor of Project Management Activity. Answer: Introduction: The project management plan is a very crucial factor in the project management activity. The plan assists the project team to understand the whole application and working conditions. Along with the developer, the other stakeholders get the advantage of the project management plan. The project design phase is also a crucial phase in terms of application integration as this phase assists in recognizing the factors that are important for development. A structure of the project management team is the base of the project. If a project is on going then it is better to put the responsibility of individual task to the experts. This results in better working conditions and atmosphere. In order to maintain the teams moral a person is appointed to handle the issues and manage project. This person is the project manager and remains at the top of the project team. The study includes the description of the application that rates the day of the users. This android application will rate the day of the user on daily basis. Within the study the project plan and design related activities such as deliverable of the project, UML and UI designs has been done. Project Team Structure: The project team will be consisting of project manager, designer, programmer and tester. The project manager is Inderpreet kaur. Inderpreet kaur is also responsible for creating the documentation. Mohammad shahid Manzoor is the application designer and have the job of creating the database of the system. Gurvir is the programmer who will develop the mobile applicaton. Finally Dilip reddy is the tester. Client: The client of the project is Two Minds technology. Two Minds Technology Pvt. Ltd. powers the greatest stage for designers and wannabe engineers. Faadooengineers is the social gathering for designing client created content. It is the greatest site for designers in India. Building applications are a standout amongst the most profoundly downloaded Apps on designing training. 100+ Apps, with 41k themes on designing. Together the site and the applications gloat of some great numbers ("Two Minds Technology", 2017). Rating should be based on happiness scale Provide motivational phrase Provide report based on happiness scale Management analysis. Developers should consider other factors for incorporation Should invite other people Share the happiness result Objective of the Project: The project objectives are as following. Delivering a system that can rate a user day Delivering an application that is error free Delivering an application that will analyse the user day regular basis Delivering an application that is visually attractive Delivering an android application named Rate Your Day Acceptance Criteria: The acceptance criteria of the application are as following. The project will be delivering an fully functional and error free application The project will be delivered within the deadline and budget The developed system can create reports based on the stored data in the database Selection of Development Method and Justification: The project is a small project and it is consisting of only four team members. The Waterfall Model is the best suited for the project development. Before the justification, it is important to discuss about the waterfall model. The waterfall model is consisting of six phases. These are as following, requirement analysis, system design, implementation, testing, deployment and maintenance. Within the system requirement gathering and analysis phase, the project manager identifies and develops all the system requirements. These requirements are documented carefully. With the design phase, the gathered requirements are analysed and various designs of the system are created. The implementation phase is the most important in the project as the application is actually developed in this phase. The testing phase assists in recognizing the existing gaps and documents the gaps. The documents are provided to the developers so that they can eliminate the issues in the system and re-send it for test ing. The next phase is deployment. In this phase, the application is deployed in the working atmosphere of the client. After all the development related activity is done, then the maintenance phase occurs. The justifications for selecting the waterfall model are as following. As the project team is very small and project manager has relatively low knowledge in terms of experienced personnel, the waterfall fall model is the best suited. The waterfall model is a simple and easily understandable method that helps the project manger to concentrate on project rather than on method associated concerns The waterfall model consists of deliverables and review for each phase. This project manager will be able to manage the project As the proposed project is a small project, the waterfall model is the right one The stages in the waterfall model are clearly defined. This assists the project manager to understand the project activities clearly Use cases and functional requirements The Business Scenario: The user will first install the application within the mobile device. Then the user will try to login to the application. If the user is new, then he/she will register. After the registration, the user will login. After the login, the user will be redirected to the profile section. In the profile section, the user can rate the day, see the report of rating in terms of weeks, month or year. Use Case Diagram: The fictional requirements of the system are as following. Create user profile---name, age(optional), gender(optional), email id, time to bed. Edit profile Rate your day View weekly analysis report View monthly analysis report View yearly analysis report View comparative report Login with Facebook Share result on face book Invite users through Facebook Record change in life or Enter notes with time stamp (should be relevant) Display motivational phrase Display notification Check horoscope Business Rule and Context: The business rules and contexts are as following. The organization will apply strong security measures for protecting the application from being hacked The employee of the organization will not misuse the application in anyway The consumer information will be disclosed to as minimal person as possible The application will be analysed in every one month The database of the application will be refreshed or restored in every six months The user who has not used the application for three months will automatically be erased from the database No employee can register into the application The application will not prioritize the users in any case Non-functional requirements: The nonfunctional requirements of the system are as following. Availability: The system will be available for use 24*7. The users will be able to communicate with the main system and database through the installed application all the time. Scalability: The application will adjust its use of resources as per the scale of business. If the users are more then it will use more resources and if the user quantity is low then lesser amount of resources will be used. Security: As the application will be holding the information of connecting path to the database, it is very crucial to secure the application properly. The application will be using encryption method so that even after theft, the data cannot be read by the hacker. The limitations and constraints of the application are s following. Long term based modification cannot be done in the application with the current objective The possibility of the up gradation will end with the possibility of android The application must be light weight as the targeted consumers may not want a heavy application for such a small purpose It is never possible to secure the database completely as the data will be transferred through open internet connection or wifi Developed on JAVA for android Simple responsive UL Use minimalist modern GUL Checked on several mobile devises Bibliography: Johnson, J. (2013).Designing with the mind in mind: simple guide to understanding user interface design guidelines. Elsevier. Page, T. (2014). Skeuomorphism or flat design: future directions in mobile device User Interface (UI) design education.International Journal of Mobile Learning and Organisation,8(2), 130-142. Sharma, C., Sabharwal, S., Sibal, R. (2014). Applying genetic algorithm for prioritization of test case scenarios derived from UML diagrams.arXiv preprint arXiv:1410.4838. Storrle, H. (2014). On the impact of layout quality to understanding UML diagrams: size matters. InInternational Conference on Model Driven Engineering Languages and Systems(pp. 518-534). Springer International Publishing. Two Minds Technology. (2017).Two Minds Technology. Retrieved 12 May 2017, from https://twominds.co.in

Vineyard Essay Example

Vineyard Paper Calaveras Vineyards Calaveras Vineyard was originally established in 1883 to make wine for the Catholic Church. They occupied 220 acres in California out of which 175 acres was occupied by the vineyard. They had now expanded into production of table wines for retailers and restaurants. It had changed three ownerships in the last nine years. The most recent owner was Stout Plc. which was looking to sell Calaveras and the management of Calaveras was the interested party in this transaction. The main strategy from 1987 was broadening the company’s position on premium brand category and this is evident from the fact that they were now concentrating on wines in the premium and super-premium category. The five C? s analyses is an important approach to evaluate the creditworthiness of a potential client. The five metrics that will be analyzed are character, capacity, capital, conditions, and collateral. Character will translate the quality of the management team and major owners and how these major players behave related to business. Related to Lynna Martinez, she has a high level of education and is graduated from important universities in France and USA. She has done researchers in the field and has experiences as a professional in the industry, being Vice president of Calaveras Vineyard since 1987. The other partner – Peter Newsome, has a degree in Business Administration and has experience in the field in different areas of this industry, such as operating and purchasing. It is possible to say that this metric is maybe one the most important for the future of this business since both of them have strong experience in the field. We will write a custom essay sample on Vineyard specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Vineyard specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Vineyard specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Related to the capacity analysis, it is unclear, based on historical data, the ability of the company in handle a high debt level, since there no information about Calaveras Vineyards – Team No. 1 18-Feb-2013 debt from the balance sheet. However, the company has a significant position as current assets what provide quick liquidity for the business as well as a strong free cash flow in both considered scenarios to repay the loan, even though the free cash flow in 1994 is negative. The apital metrics will measure whether the company has enough capital, in this point also matter the commitment of the owners with the business. In the management leveraged buyout, the new owners will have $ 1 million invested and thus they would have invested 25% of the total demanded fund. It seems that the new owners are putting an great effort on this business since they are buying a company that they have experience in and they believe it can do better than what the previous owners were doing. The economic conditions for the wine business seems to be in a good moment, even though the alcoholic market has been stagnated, the wine market has grown by 7. 4%, new researches about the benefits of wine has driven the demand up and thus the market is being benefited. Based on the Pro Forma Historical Financial Statements, it seems that the management team is able to control the expenses and cost of goods sold as the sales increase and decrease. It is possible to see it using the decreasing trend of the COGS related to sales and the SGA related to sales that has been the same (14. 9%) for the last 4 years. The company has as collateral, the Accounts Receivables and fixed assets. In 1993 the company had $316,782 as receivables, $2,332,241 as inventories and $4,487,193 as gross fixed assets. In case of liquidation, the Receivables may be sold at 85% of the face value, or $292,264; Inventory can be sold at 75% of its face value or $1,749,180. The fixed cost can be sold by 40% of the book value that is $1,794,877. This liquidation would provide a total of $3,836,321 which is more than Calaveras Vineyards – Team No. 1 8-Feb-2013 the total loan provided in 1994 ($3,122,000). It provides a good standard for the potential creditor of this company. Moody’s SGL framework can also be used to assess the creditworthiness of Calaveras Vineyards. The rating system gives a score ranging from SGL-1 to SGL-4, where one represents companies with very good liquidity and four represents companies with weak liquidity. There are several characteristics that are evaluated in rating a company using this framework. The first point is the capacity for financing capital expenditures and net working capital internally. Calaveras has an expected negative free cash flow in 1994 based on Anne Clemen’s projection (Exhibit 3), so it will not be able to fund internally. However, the company still has the flexibility of drawing money from its revolving credit line since the borrowing base has sufficient amount. Exhibit 3 also shows that the negative cash flow is due to a significant addition to net working capital. The addition is larger than average because the company is increasing its sales to the same level of 1992. The company is projected to have positive free cash flows starting in 1995 and will be able to finance internally. The EBIT/(interest and principal) ratio is moderate in 1994 but projected to increase throughout the years (Exhibit 3) and has an average of two. The second characteristic that needs to be analyzed is the flexibility of the company in generating cash from selling its assets in times of distress. Anne Clemen expected that Calaveras’ accounts receivable would able to generate 80% of book value and inventory for 85% of book value, while land, plant and equipment would only generate 40%. However, these assets are crucial to the operations of Calaveras and cannot be sold. Thus, the company has no flexibility in generating additional cash flow. Additionally, the assets mentioned before are used as collateral for both the term loan and the revolving credit. This relates to the final characteristic that is the extent Calaveras Vineyards – Team No. 1 18-Feb-2013 in which the company’s assets are encumbered. Calaveras is expected to secure its term loan through land, plant and equipment, and its revolver’s borrowing base is equal to 85% of receivables and 75% of inventories. In other words, most of Calaveras’ assets are encumbered and this limits the financial flexibility. After analyzing Calaveras’ through the SGL framework, we believed that the company should receive a score of SGL-3. The increase in the size of the wine market is an opportunity for Calaveras to increase their market share especially in the premium and super-premium category where the company has secure brand position and stable relationships with the distributors. It is heavily dependant on two dealers who account for 50% of their sales. It might bode well for them to increase their dealership base. Financial ratio analysis: To better understand Calaveras Vineyards’ financial ondition, we analyzed those financial ratios that Anne prepared. EBIT coverage ratio and current ratio in 1994 were already larger than 1 and was increasing from 1994 to 1998, indicating this company was profitable enough to pay off its interest expense and short-term obligation. Although current ratio was not so good compared with comparable companies, it was improving through years. The debt rat io was less than 1 and reduced quickly from 1994 to 1998, which was a good signal to investor and creditors that the risk of this company was decreasing. In addition, its decreasing assets/equity ratio indicated the quick increase of equity, which was the result of quick increase of net income. The return on sales and return on assets were much higher than the comparable companies and were increasing from 1994 to 1998, indicating this Calaveras Vineyards – Team No. 1 18-Feb-2013 company had good profitability in the industry. Its increasing sales/assets ratio showed an improvement of its ability to generate sales revenue from each dollar of asset, indicating this company operated more and more efficiently. Through analysis, we found these ratios looked good and some of them were even better than the industry level. The ratio analysis showed Calaveras Vineyards was a healthy company and had an optimistic future. New Scenario A new scenario was drawn in order to assess how the financial health of the company would be if the COGS and SGA were higher than the predicted by the company initially. In this situation, it is possible to see that the company is still able to operate under the conveants imposed by Goldengate Capital. Additional consideration and recommendation: We based our analysis on the ratio analysis done by Anne Clemen. The ratio analysis shows us favourable trend about financials about this company. The leverage ratio goes on reducing and the times interest earned as well as Profit margin show favourable forecasts. Based on our current analysis, we think Calaveras had good profitability and has enough ability to service the debt, and we agreed that Anne Clemens should participate in the loan. However, there are still some factors that can influence our evaluation of Calaveras. For example, if the price of its wine decreased quickly because of intensive competition or there was a big drop in the production of grape due to some catastrophe, the sales revenue will decreased dramatically, which would result in a shrunken free cash flow and influence its ability to pay back the loan. In Calaveras Vineyards – Team No. 1 18-Feb-2013 addition, if the cost of goods sold increased quickly because of a sudden increase of material price or the SGA soared up for expanding marketing and advertising to compete with competitors, the free cash flow would also decreased dramatically. So we suggested Anne to keep monitoring these unstable factors carefully to see whether Calaveras would have a credit risk. Additionally, to decrease the default risk, Anne could also make covenants with Calaveras to regulate its financial ratios and make part of its assets as collaterals. Calaveras Vineyards – Team No. 1 18-Feb-2013 Exhibit 2 Calaveras Vineyards – Team No. 1 18-Feb-2013 Calaveras Vineyards – Team No. 1 18-Feb-2013 Exhibit 7 New Forecasted Income Statement 1994 1% Sales Revenue Cost of Goods Sold Estates Selected Chardonnay California Generic Special Accts. Winery TOTAL Gross Profit Selling, General and Admin. Amortization of Organizational Costs EBIT Interest Expense (avg. balance) Profit Before Taxes Tax Expense Net Income Dividends to Common Shareholders Retentions to Equity $ $ $ $ $ $ $ 448,180 272,027 432,977 179,934 224,371 655,916 90,130 $ $ $ $ $ $ $ 594,307 325,923 535,400 121,580 233,639 683,012 93,853 $ $ $ $ $ $ $ 678,342 383,808 645,546 126,603 243,291 711,228 97,730 $ $ $ $ $ $ $ 706,365 399,663 733,324 131,833 253,341 740,608 101,767 $ $ $ $ $ $ $ $ 31,406 416,173 763,618 137,279 263,807 771,203 105,971 2,081,995 (966,861) (60) 1,115,074 (134,514) 980,559 362,807 617,752 617,752 $ 3,707,423 1995 1% $ 4,199,960 1996 1% $ 4,693,764 1997 1% $ 4,984,664 $ 1998 1% 5,371,451 $ (2,303,533) $ (2,587,715) $ (2,886,547) $ (3,066,901) $ (3,289,456) $ 1,403,889 $ 1,612,246 $ 1,807,216 $ 1,917,763 $ (667,336) $ (755,993) $ (844,877) $ (897,239) $ $ $ (60) $ 736,493 $ (60) $ 856,193 $ (60) $ 962,279 (60) $ $ $ 1,020,463 (109,625) $ (2 14,987) $ (198,101) $ (170,752) $ $ $ $ $ $ 626,869 231,941 394,927 394,927 $ $ $ $ $ 641,206 237,246 403,960 403,960 $ $ $ $ $ 764,178 282,746 481,432 481,432 $ $ $ $ $ 849,711 314,393 535,318 535,318 $ $ $ $ $ Calaveras Vineyards – Team No. 1 18-Feb-2013 Exhibit 8 Forecasted Balance Sheets (At Closing) Cash Accounts Receivable Inventory Organization Costs-Current Total Current Assets Land Plant and Equipment Gross PPE Accum. Depreciation Net PPE Organization Costs-Noncurrent Total Assets Payables Accruals Debt-Current Portion LTD Revolving Line of Credit Total Current Liabs. Debt, non-current Total Liabilities Common Stock Retained Earnings Total Equity Total Liabilities Equity Memorandum: Borrowing base (85% AR, 75%Inv) Revolver $ $ $ $ 2,255,917 2,304,288 $ $ 2,521,907 2,218,955 $ $ 2,699,146 1,949,595 $ $ 2,890,789 1,643,991 $ $ 3,025,581 1,187,490 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1,124 60 1,184 1,124 582 1,706 1,706 240 3,130 130 400 530 1,600 2,130 1,000 1,000 3,130 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1994 50 370,742 2,587,715 60 2,958,567 1,124 832 1,956 116 1,840 180 2,960,587 258,771 400 2,304,288 2,563,459 1,200 2,564,659 1,000 394,927 395,927 2,960,587 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1995 50 419,996 2,886,547 60 3,306,654 1,124 1,082 2,206 283 1,923 120 3,308,697 288,655 400 2,218,955 2,508,010 800 2,508,810 1,000 798,887 799,887 3,308,697 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1996 50 469,376 3,066,901 60 3,536,387 1,124 1,332 2,456 499 1,957 60 3,538,404 306,690 400 1,949,595 2,256,685 400 2,257,085 1,000 1,280,319 1,281,319 3,538,404 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1997 50 498,466 3,289,456 60 3,788,033 1,124 1,582 2,706 766 1,940 3,789,973 328,946 400 1,643,991 1,973,337 1,973,337 1,000 1,815,637 1,816,637 3,789,973 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1998 50 537,145 3,425,344 3,962,539 1,124 1,832 2,956 1,082 1,874 3,964,413 342,534 1,187,490 1,530,024 1,530,024 1,000 2,433,389 2,434,389 3,964,413 Calaveras Vineyards – Team No. 1 18-Feb-2013 Exhibit 9 Forecast Assumptions Key Assumptions: Case Sales $/Case Gross Margins Estates Select-other Chardonnay California Generic Special Accts Winery Dividend Payout: Now-1996 1997After 0 0 0. 47 0. 35 0. 37 0. 35 0. 26 0. 35 0. 46 Exhibit 11 Exhibit 11 Cash Minimum (m) AR/Sales INV(T)/COGS(T+1) CL(T)/COGS(T+1) SGA/Sales Depreciation Capital Expenditures Interest Rate Tax Rate Inflation Rate Real Price Growth 50 0. 1 1 0. 1 0. 18 5-yr, S-L 250 0. 095 0. 37 0. 031 0. 01 Amortiz. Organization Costs: 5 years. Calaveras Vineyards – Team No. 1 18-Feb-2013 Exhibit 10 Solvency ratio EBIT/ (Interest and Principal) Current ratio Debt ratio Assets/Equity Efficiency ratio Sales/Assets Profitability ratio Return on sales Return on assets Return on equity 1994 1. 32 1. 24 0. 67 3. 6 0. 75 11% 8% 28% Anne Clemens Ratio Analysis 1995 1996 1997 1. 53 1. 8 2. 05 1. 24 1. 33 1. 48 0. 59 0. 5 0. 39 2. 82 2. 22 1. 8 0. 79 12% 9% 26% 0. 85 13% 11% 24% 0. 88 14% 12% 21% 1998 2. 48 2. 16 0. 25 1. 45 0. 94 15% 14% 20% Comparables ratio Upper Quartile Median Lower Quartile 5. 5 0. 97 2. 5 0. 99 1. 5 0. 995 1. 04 7. 30% 8. 10% 16. 60% 0. 73 2. 80% 2. 30% 7. 70% 0. 35 -0. 20% -0. 10% 1. 10% Calaveras Vineyards – Team No. 1 18-Feb-2013 Exhibit 11 Cash Flow Components Cumulative Surplus or Deficit Cash Flow Cash Flow Components Cumulative Surplus or Deficit Cash Flow Cash Flow Items Initial Inputs Net Results Initial Inputs Net Results Operating Inflows (Net Sales) Operating Outflows COGS Depreciation SGA Exp Taxes Other Total Operating Outflows Total Net Operating Cash Flow (NOF) Changes in Working Capital Receivables (AR) Inventory (INV) Other Current Assets (OCA) Accounts Payable (AP) Other Current Liabilities (OCL) Total Changes in Net Working Capital (NWC) Surplus or Deficit Cash Flow after Working Capital Investment Capital Investment Change in Net Fixed Assets Depreciation Net Investment Flow Free Cash Flow to Firm Surplus or Deficit (FCFF) Interest Income (II) Fixed Coverage Expenditures (Interest) (FCE) Surplus or Deficit Cash Flow Avaiable for Dividends Dividends (DIV) $ 2,836,062. 00 $ 1,899,853. 00 $ 528,456. 00 $ $ $ 2,428,309. 00 $ 407,753. 00 $ 43,356. 00 $ 654,835. 00 $ (7,012. 00) $ (121,880. 00) $ $ 569,299. 00 $ 977,052. 00 $ 4,193,000. 00 $ 2,294,000. 00 $ 587,000. 00 $ 287,000. 00 $ $ 3,168,000. 00 $ 1,025,000. 00 $ (49,000. 00) $ (281,000. 00) $ $ 28,000. 00 $ $ (302,000. 00) $ 723,000. 00 $ 268,332. 00 $ (394,512. 00) $ (126,180. 00) $ 850,872. 00 $ $ $ (83,000. 00) $ (167,000. 00) $ (250,000. 00) $ 473,000. 00 $ $ (308,000. 00) $ 165,000. 00 $ $ 850,872. 00 $ Calaveras Vineyards – Team No. 1 18-Feb-2013 Cash Flow Statements – Contd. Surplus or Deficit Cash Flow Avaiable for Dividends Dividends (DIV) Managements Discretionary Cash Flow Surplus Financial Cash Flow Change in Long-Term Debt Change in Short-Term Borrowing Change in Preffered Stock Change in Common Stock Change in Other Total Change in Net Finncial Cash Flow (NFF) Goodwill/Other Assets Other Liabilities Change in Goodwill Other Asset Change in Other Liabilities Change in GwillOAssets Other Liabilities Surplus or Deficit Cash Flow (Sum of 13 Cash Flow Components) Change in Cash (Cash) Surplus or Deficit after all Cash Flows $ $ 45,006. 00 13,241. 00 $ 850,872. 00 $ $ 850,872. 00 $ $ $ $ (729,402. 00) $ $ (729,402. 00) $ (400,000. 00) $ 236,000. 00 $ $ $ $ (164,000. 00) $ 165,000. 00 $ $ 165,000. 00 $ (153,235. 00) $ $ (153,235. 00) $ (31,765. 00) $ $ $ $ $ $ 1,000. 00 1,000. 00 Calaveras Vineyards – CASH FLOW STATEMENT 1000 Dec-96 Cash Flow Items Initial Inputs Net Results Cash Flow Components Cumulative Surplus or Deficit Cash Flow Initial I nputs Dec-97 Net Results Cash Flow Components Cumulative Surplus or Deficit Cash Flow Operating Inflows (Net Sales) Operating Outflows COGS Depreciation SGA Exp Taxes Other Total Operating Outflows Total Net Operating Cash Flow (NOF) Changes in Working Capital Receivables (AR) Inventory (INV) Other Current Assets (OCA) Accounts Payable (AP) Other Current Liabilities (OCL) Total Changes in Net Working Capital (NWC) Surplus or Deficit Cash Flow after Working Capital Investment Capital Investment Change in Net Fixed Assets Depreciation Net Investment Flow Free Cash Flow to Firm Surplus or Deficit (FCFF) Interest Income (II) Fixed Coverage Expenditures (Interest) (FCE) $ 4,681,000. 00 $ $ 2,526,000. 00 $ 655,000. 00 $ 349,000. 00 $ $ 3,530,000. 00 $ 1,151,000. 00 $ (49,000. 00) $ (169,000. 00) $ $ 17,000. 00 $ $ (201,000. 00) $ 950,000. 00 $ 4,967,000. 00 $ $ 2,644,000. 00 $ 695,000. 00 $ 394,000. 00 $ $ 3,733,000. 00 $ 1,234,000. 00 $ (29,000. 00) $ (208,000. 00) $ $ 21,000. 00 $ $ (216,000. 00) $ 1,018,000. 00 $ (34,000. 00) $ (216,000. 00) $ (250,000. 00) $ 700,000. 0 0 $ $ $ (280,000. 00) $ 17,000. 00 $ (267,000. 00) $ (250,000. 00) $ 768,000. 00 $ $ $ (235,000. 00) Calaveras Vineyards – Cash Flow Statements – Contd. Surplus or Deficit Cash Flow Avaiable for Dividends Dividends (DIV) Managements Discretionary Cash Flow Surplus Financial Cash Flow Change in Long-Term Debt Change in Short-Term Borrowing Change in Preffered Stock Change in Common Stock Change in Other Total Change in Net Finncial Cash Flow (NFF) Goodwill/Other Assets Other Liabilities Change in Goodwill Other Asset Change in Other Liabilities Change in Gwill Other Liabilities Surplus or Deficit Cash Flow (Sum of 13 Cash Flow Components) Change in Cash (Cash) Surplus or Deficit after all Cash Flows $ $ $ 420,000. 00 $ $ 420,000. 00 $ (400,000. 00) $ (20,000. 00) $ $ $ $ (420,000. 00) $ (400,000. 00) $ (132,000. 00) $ $ $ $ (532,000. 00) $ 533,000. 00 $ $ 533,000. 00 $ $ $ $ $ $ $ $ $ $ 1,000. 00 1,000. 00 Calaveras Vineyards – Team No. 1 18-Feb-2013 CASH FLOW STATEMENT Dec-98 Cash Flow Items Initial Inputs Net Results Cash Flow Components Cumulative Surplus or Deficit Cash Flow Operating Inflows (Net Sales) Operating Outflows COGS Depreciation SGA Exp Taxes Other Total Operating Outflows Total Net Operating Cash Flow (NOF) Changes in Working Capital Receivables (AR) Inventory (INV) Other Current Assets (OCA) Accounts Payable (AP) Other Current Liabilities (OCL) Total Changes in Net Working Capital (NWC) Surplus or Deficit Cash Flow after Working Capital Investment Capital Investment Change in Net Fixed Assets Depreciation Net Investment Flow Free Cash Flow to Firm Surplus or Deficit (FCFF) Interest Income (II) $ 5,348,000. 00 $ 2,803,000. 00 $ 749,000. 00 $ 461,000. 00 $ $ 4,013,000. 00 $ 1,335,000. 00 $ (38,000. 00) $ (126,000. 00) $ $ 12,000. 00 $ (400,000. 00) $ (552,000. 00) $ 783,000. 00 $ 66,000. 00 $ (316,000. 00) $ (250,000. 00) $ 533,000. 00 $ Calaveras Vineyards – Team No. 1 18-Feb-2013 Net Investment Flow Free Cash Flow to Firm Surplus or Deficit (FCFF) Interest Income (II) Fixed Coverage Expenditures (Interest) (FCE) Surplus or Deficit Cash Flow Avaiable for Dividends Dividends (DIV) Managements Discretionary Cash Flow Surplus Financial Cash Flow Change in Long-Term Debt Change in Short-Term Borrowing Change in Preffered Stock Change in Common Stock Change in Other Total Change in Net Finncial Cash Flow (NFF) Goodwill/Other Assets Other Liabilities Change in Goodwill Other Asset Change in Other Liabilities Change in GwillOAssets Other Liabilities Surplus or Deficit Cash Flow (Sum of 13 Cash Flow Components) Change in Cash (Cash) Surplus or Deficit after all Cash Flows $ $ $ $ (250,000. 00) $ 533,000. 00 $ (173,000. 00) $ 360,000. 00 $ $ 360,000. 00 $ $ (360,000. 00) $ $ $ $ (360,000. 00) $ $ $ $