Ford Motor Company Supply Chain Strategy Essay -- Ford business Strate

Ford Motor Company Supply Chain Strategy Background In 1913, Henry Ford revolutionized product manufacturing by introducing the first assembly line to the automotive industry. Ford’s hallmark of achievement proved to be a key competence for the motor company as the low cost of the Model T attracted a broader, new range of prospective car-owners. However, after many decades of success, customers have become harder to find. Due to relatively new threats to the industry, increasing numbers of cars and trucks are parked in dealer lots and showrooms creating an alarming trend of stagnation and profit erosion. Foreign-based automakers, such as Toyota and Honda, have expanded operations onto domestic shores and, in turn, have wrestled market share from American automakers. As a direct result, unit over-capacity has steadily risen, while heightened competition and diverse product lines have led to increasing customer demands. To answer these threats, Ford has made recent attempts to transform its dated vertical integration production model into a maneuverable, efficient supply chain. Emphasizing methods such as Just-In-Time (JIT) inventory, Total Quality Management (TQM), and Synchronous Material Flow (SMF), Ford has derived a multi-tiered system of supply. The tier system consists of numerous generic suppliers, â€Å"tier two† and below, who are managed by â€Å"tier one† vehicle sub-system suppliers. The â€Å"tier one† suppliers, by nature, are completely dependent upon Ford’s survival since the provided sub-system component is specific solely to Ford. Dell and Virtual Integration Despite the revamping effort, Ford remains plagued with prolonged Order-To-Delivery (OTD) time periods, congested inventories and error-ridden procurement processes. Upon investigation, these troublesome issues appear to be well addressed by the radically new direct business model of the Dell Computer Corporation. Dell differentiates itself through the utilization of virtual integration, an efficient and effective direct business model facilitated by electronic business providing Build-To-Order (BTO) products directly to customers. The process begins with the customer specifying exactly which features are to be included in the desired computer. Dell, then, buys components from several different suppliers via Internet-based JIT ordering. By using Dell’s process of JIT ordering , misal... ...ndustry by integrating a direct supply network. Ford’s goal of TQM could be easily met by implementing a variation of Dell’s already successful virtual integration business model. Fostering cooperation through incentives is key since compliance of supply chain partners is necessary to gain first-mover advantage. Conclusion In today’s competitive environment, it is important for any business to focus on the customer and to provide unique value in order to achieve a sustainable competitive advantage. Without virtual integration, competitive advantage is lost. Successful implementation of virtual integration initiatives allows supplier companies, which are performing only certain processes, to work together as one entity. Therefore, operations become more efficient by reducing inventory, assuring quality, and reducing delivery time. More importantly, the organization maintains the ability to thrive in a competitive marketplace by achieving increased customer satisfaction through unique and strategic core competences. Virtual integration will redefine corporations and , eventually, entire industries as supply chains evolve into a new business model of cooperation and sharing.

Benford’s Law Essay

Benford’s law, aka first-digit law, states that in lists of numbers of naturally occurring data, the leading digit is distributed in a specific, non-uniform way. In number sequences, most people assume that in a string of numbers sampled randomly all nine numbers would be equally probable for the leading digit. Benford’s Law states otherwise. He found that the number 1 will appear first about 30% of the time and the number 9 will only appear first around 4.5%. Naturally occurring can be anything from check amounts or stock prices to lengths of rivers. Benford’s law is both scale invariant and base invariant. If something is scale invariant that means if you multiplied every number in the list by the same constant, it does not significantly change the distribution. For example, it does not matter whether the numbers are based on the dollar prices of stocks or their prices in Yen or Euros. Mathematicians have found that the larger and more varied the sampling of numbers from different data sets, the more closely the distribution of numbers approaches Benford’s Law. Benford’s Law does have limitations. Benford’s Law does not apply to uniform or non-naturally occurring data sets. Examples of non-naturally occurring data sets are made up of pre-assigned numbers like zip codes or UPC numbers. Benford’s law can only be applied to data that are distributed across multiple orders of magnitude. Moreover, if there is any cut-off which excludes a portion of the underlying data above a maximum value or below a minimum value, then the law will not apply. Benford’s law has many applications. Several countries, states, large corporations and accounting firms use detection software based on Benford’s Law. Benford’s Law is used in the accounting profession to detect fraud. It can be a powerful and simple tool for detecting frauds, embezzlers, tax evaders, inaccurate accounting and computer glitches. Dr. Mark Nigrini used Benford’s Law to test the first digit in approximately 170,000 IRS model files. Dr. Nigrini found that these lines follow Benford’s Law very closely. He then used Benford’s Law on fraudulent data taken from King’s County, New York District Attorney’s Office. The fraudulent data consisted of cash disbursements and payrolls, none of which followed Benford’s Law. In general, Dr. Nigrini found that fraudulent or concocted data have far less numbers beginning with 1 and far more numbers beginning with 6 than true data do.

A good leader Essay

INTRODUCTION There has been always considerable discussion about connection between great leaders and good followers. It is said that in order to be a good leader person should be a good follower. In my point of, a good leader is the person who also has been a good follower, person who has proven oneself ability to follow the instructions, who can subjugate one’s will to the will of others who has undertaken the responsibility of leadership, able to make constructive comments and debate issues when necessary and able to stand up for the principles in which one believes. The person who can manage to perform about mentioned missions can be called a good follower. However, it does not mean all good followers become always good leaders. There are some people who are astounding as choir singers but awful as choir directors. There are many great followers who are not good leaders. Nevertheless, it should be noted that good leaders and good followers usually posses the same characteristics and responsibilities which may be the main reason for considering an opinion that a good leaders also obliged to be a good follower. Leaders the ones who have brought our life many changes, make differences and make our life more interesting and interactive. But, if there were not followers there would not be a good leader, as, followers the most essential assets of a good leader. 1. Some people understand a leader simply as somebody whom people can follow or as someone who guides or directs others, while others define leader as a person who affects a group of people towards the achievement of a goal. With regard to follower, follower is a person who follows another`s teachings and  belief, one who admits the command, guidance and leadership of another one (www.vtaide.com). Some held conception that to be a good leader you ought to be a good follower. In order to be a leader, a person at first should learn how to be a good follower. Initially, majority of great leaders followed in the footsteps of other good leaders and utilized training to achieve their leadership goals. In order to have followers, a good leader must have ability to comprehend his or her followers and what the followers desire from the leader. And, the best way to implement it, the leader should be a good follower. As, rich people usually cannot understand poor people`s condition, if only the rich did not experience the poverty in their own life. The poor people can comprehend each other better because they have similar problems. Moreover, we are all followers in some spheres of our lives. And in this case, we can obtain some essential qualities and skills which help us to become a good leader. The reason for this is training which considered as a powerful tool in order to attract one’s vision to higher sights, increasing their performance to a higher standard, and forming a personality beyond its usual limitations to its full potential. For instance, in the history, the Apostle Peter had made a lot of mistakes before he followed Jesus. After following Jesus for three years Apostle Peter and his fellow-disciples â€Å"turned the world upside down†( John C.Maxwell,1998) Besides, leaders and followers divide some characteristics. 2. These are the following qualities: Awareness Ð ¡urrently, leÐ °ders have to know about different audiences including board members, customers, coworkers, colleagues, and the audience on the whole. You oblige to know what it tÐ °kes to bring them Ð °long, if you desire to be good a leader. In order to be a follower you should educate yourself how to be conscious of the requirements of public as well as their potential to â€Å"make one`s life hell from one second to the next† (Barbarra Kellerman) .Good followers study to read public and comprehend what distresses and stimulates them. Diplomacy When good followers meet a co-worker with frantic political beliefs or an offensive manager, they are maybe not going to struggle every fight. To take  part in a position of the follower is less risky, easier, and often simpler. Good followers observe how to handle with those who possess dissimilarities while not disregarding those differences. That is an essential leadership feature, for the reason that a manager or leader cannot afford to be unconscious to the relations of those people who surrounds him or her (www.success.bz). Courage Being a good follower indicates owning the bravery to disagree if you believe your manager, superior or leader is acting something incorrectly. That is always complicated, but it demands the strength of belief which is very essential to good leadership. Being a good leader is complex in methods that are rather alike to being a good follower. It means paying attention, being engaged, having the bravery to cry out when something is not proper way. Also, it means possessing the power and activity to encourage a leader or manager who is implementing things wisely and well. Collaboration In many cases, the leader influences if and how the goals are accomplished while followers are able to implement or break. Even though the leader may receive most of the credit, in many business sectors, followers are the people who are acting much of the creative work. Leaders who have been good followers comprehend how to work with people who can help to bring out the well enough in them. One of great leader said that â€Å"Was it the imaginative collective of team members at Apple, or did Steve Jobs really invent the iPod and iPhone? Currently, leaders may be reckoned up not only by how much is accomplished or produced, but by the quality of its members and the team or organization† (Ronald E. Riggio). Critical Thinking You need to be able to believe for yourself, in order to be a good follower. The best followers encourage and help the leader when he or she is acting the correct thing, and stand up to the leader when he or she is directed in the wrong direction. Many of the same qualities that we are enraptured with leaders competence, motivation, intelligence-are similar characteristics that we desire in the very best followers (www.lifehack.org). Besides, leaders, in spite of their degree, they also must follow. 3. Even though, leaders and followers share the same qualities, also, there is still much dissimilarity between them. Leader has to be isolated and independent in order to rely on himself. A bright example of this can be seen in the book called â€Å"Ender`s game†Ender had been isolated in order to make him struggle. That was the only way he would ever have been otherwise. Moreover, it made him untrusting, angry, strong and lonely. But, maybe these qualities made him a better soldier† (michaelhyatt.com). . Leader is usually the person who is being relied on his followers. Followers only must be efficient during the struggle. They have to be capable to implement the commands by their leader, with own skills. In other cases, it is not so essential to be that competent. They could ask aid from their leader or friends. But, leaders, cannot ask for aid from his followers because, otherwise his followers may consider him incompetent. Being a leader is not as easy as being a follower. Leaders illustrate inventiveness; when they have a general clutch for a project they can strategically lay out the most appropriate way to reach the final goal while followers require step by step instruction and expect direction to follow by the leader. They need regular approval and guarantee, in case, something goes wrong. Leaders are not content with simply expecting for the next step because they are very active. They disdain inactivity and when there is lack of progress. They are motivated by subjugating any obstacles in their way and accept responsibility. With regard to followers, they escape from amenability and would prefer when somebody else is â€Å"amenable† instead of them. Also, they agree with inaction as long as a leader does not motivate them to carry out the objectives. When followers usually experience obstacles in certain kind of work, they are not capable to manage with them alone. Leader is the one who can help to a follower how to handle with difficulties. Leaders are not afraid of a strong sense of anxiety or fear; on the contrary they prosper on it. They show that they have ability to manage with everything and very quick in making decisions. They attack fear and tackle it head on and show it who the boss is. With reference to followers, when they have to make a decision, they usually feel fear which causes to escape from a challenge without any real exculpation. Because they try rarely to make something new and they are not capable to risk (Dale Carnegie, 2010). Followers disdain any alterations and attempt to avoid them. Leaders are innovators and  intuitive so they accept changes. Moreover, they are aware that sometimes it is possible that some changes can be very beneficial and may help people to achieve their objectives as well as improving and flourishing their experiences too. 4. Like many traits of the prominent people, being a good leader is an elusive characteristic and very complicated to describe. Many people have different conception of a great leader. But, in my view, a good leader is the person who, first of all, has ability to make impossible things possible in order to be distinguished from other people and his followers. Also, a leader needs to comprehend what objectives and purposes are to be accomplished and needs to stick to those objectives and purposes and by never compromising with the truth. Even though, there are times when leader may have to yield a little, bend a little, but he should always have a clear vision of the final objective that he and his followers have wish to achieve. He must focus completely and totally to attaining the aim, by not permitting himself to be diverted, inactive, complaisant and negligent (www.fastcompany.com).In order to be a good leader, I would try to be quicker to evaluate and criticize myself in order th at I may benefit from my personal self-analysis and amend myself constantly and try to not to be hurry to adjudicate others. A good leader has to listen to constructive remark and must hear frank complaints and reckon up them with good criticism in order to appeal that which is affirmative and positive to the achievement of the objectives to which I am dedicated. If, I were a leader the first thing I would do is analyzing the aim which is needed to achieve and arranging everything in proper way. Analyzing includes not only finding out the goals, but, it also comprises followers or people who will work with you and what is the best appropriate method to attain the goal with the help of your team. When you analyze your followers, you will be aware what they desire and which qualities and abilities they have and how to help them to overcome and turn their weaknesses into the strength in order to achieve common goals. Moreover, it is vitally essential to work out and develop a strategy in order to attain objectives with a help of your team and find out your concur rents and enemies and how to overcome them so as to become more powerful and successful. A bright example of a great leader that I would like to take is Alan Mulally who is CEO of Ford Motor Corporation and also has taken the third place in the list of Great leaders in the world (Fortune  Magazine, 2014). He says that â€Å"One of the most essential tasks of the leader’s work is intensifying the process we are utilizing to attain our objectives. Furthermore, it is not only the way of simply asking, â€Å"How are we doing?† It is requiring, â€Å"How are we performing against the project? What are the spheres that demands particular attention? At the end of the year, what strategies have we worked out to ameliorate our fulfillment in next year?†(Rirk Kinkland, McKinsey Publishing 2013). 5. Some key qualities that I would like to possess and implement, if I were a leader are the following: Honesty and Responsibility An essential and basis element of a great leader is honesty. Your business and followers are a reflection of yourself, and if you are honest and behave yourself ethically it will be a key value for your followers to follow suit. Moreover, if you are not honest, responsible and reliable person you will not have people who will follow you. So, if your co-workers and followers do not trust you, it is impossible to be a leader. It is very important for the people who will follow you to be sure that they can rely on you and that you keep your promises. Also, the good leader should be dedicated towards his or her job because it shows that you feel responsibility. However, a good leader also must differentiate the people and followers whom he can trust in order not to be sure that his followers will always support him during attaining the goals. Communication Good communication skills aid the leader to communicate easily and to share ideas or exchange with opinions with his followers. Also, it is important to elude misunderstanding in an organization because knowing what you desire to be implemented might seem transparent in your head, but if you try to clarify it to somebody else and it may be comprehended in a different way which may cause to a problem. So, being capable to succinctly and clearly describe what you want to be accomplished is vitally essential. Besides, a leader should possess this trait to communicate with his client with various backgrounds. Vision Being a great leader also includes possessing and developing vision. It means having â€Å"vision† to forecast the future as if it were already here. A bright  example can be Steve Job, who often performed this. He created a transparent picture in minds of people how a new output would alter the world — before even it was launched. He had ability to make humans excited about the future which he imagined in his mind. Good leaders must develop the talent of vision in them as well as in followers to encourage them to be better in those skills which they possess. It helps to commit innovations and attain common goals. Positive Attitude A good leader should have a positive thinking and attitude in order to stimulate confidence and acquire inner strength. It is essential to remember, that confident and calm leader is a good example for his followers to feel the same. Besides, a great leader must motivate his followers and people around. If your followers feel happiness and are motivated, there are more chances to reach the best achievements and moving ahead. Also, a good leader must be capable to solve problem and find the solution to every problem which he encounters in life and not avoid it. And, it is usually easier to find solution to the problem when you are calm, confident and have positive mind-set. Conclusion By way of conclusion, it can be marked that being a leader is more complicated than many people expect it. Being leader requires many efforts, hard work and a plenty of affirmative traits which hare complex to attain. With regard to followers, it is easier to be a follower rather than being a leader. Even though, followers and leaders share similar qualities, not every good follower can become a good leader because there are many differences as well. One of the main differences between them is responsibility. Leaders oblige to be responsible not only for their actions, but, as well as they must be responsible for deeds of their followers. Furthermore, leaders are braver, creative and more inclined to risk. People who try to avoid challenges are better to be followers than being a leader of a group of people. I think every leader must always learn in order to be very smart and try to obtain more knowledge and experience in different kind of spheres. But, the main task of leaders to help people to achieve common goals and direct his followers. Also, leaders have to always try to  be a great person who can change the world to the positive side and make it better. References 1. Barbara Kellerman [2009] â€Å"How Followers are Creating Change and Changing Leaders† Available [online]: http://www.fastcompany.com/3029840/bottom-line/5-ways-being-a-good-follower-makes-you-a-better-leader [March 17, 2009] 2. Carol Giannantonio[2011] â€Å"A Great Leader Is A Great Follower† Available [online]:http://www.success.bz/articles/1833/a_great_leader_is_a_great_follower [July,2011] 3. Dale Carnegie [2010] â€Å"How to Win Friends and Influence People† Available [online]: http://www.lifehack.org/articles/productivity/15-best-leadership-books-every-young-leader-needs-read.html [February, 2008] 4. Fortune Magazine[2014] â€Å"Fortune ranks the World’s 50 Greatest Leaders† Available [online]: http://fortune.com/2014/03/20/fortune-ranks-the-worlds-50-greatest-leaders/ [March, 2014] 5. Gwen Moran[2007] â€Å"A person who influences a group of people towards the achievement of a goal† Available [online]:http://www.vtaide.com/gleaning s/leader.htm[September 26, 2007] 6. James M. Kouzes and Barry Z. Posner[2010] â€Å"The Truth about leadership† Available [online]: http://www.fastcompany.com/3029840/bottom-line/5-ways-being-a-good-follower-makes-you-a-better-leader[September, 2010] 7. John C. Maxwell [1998] â€Å"The 21 Irrefutable Laws of Leadership † Available from:http://michaelhyatt.com/why-the-best-leaders-are-great-followers.html [September, 2008] 8. Rik Kirkland[2006] â€Å"Leading in the 21st century† Available [online]: http://www.mckinsey.com/insights/strategy/leading_in_the_21st_century_an_interview_with_fords_alan_mulally [ November, 2013] 9. Ronald E. Riggio[2013] â€Å"Leaders lead. Followers followâ€Å"Available[online]: http://www.fastcompany.com/3029840/bottom-line/5-ways-being-a-good-follower-makes-you-a-better-leader[April, 2014]

The ABCs of APR Everything You Need to Know

The ABCs of APR Everything You Need to Know SAT / ACT Prep Online Guides and Tips When you look at a loan or credit card offer, you’ll see the term â€Å"APR,† or annual percentage rate, popping up all over the place. What is APR, exactly, and why is it important when taking out a loan or choosing a credit card? This guide will tell you everything you need to know about annual percentage rate and how you can use it to understand the annual costs of a loan or credit line. To start, let’s establish a working definition of APR. What Is APR? What is APR? What does APR stand for? APR stands for annual percentage rate, and it tells you the total amount of interest and fees you’ll pay each year on borrowed money. It’s a more comprehensive value than interest rate, and it’s meant to help you compare loans and credit cards on a standardized basis. APR is presented as a percentage of the total amount borrowed, or the principal. That being said, APR works differently on loans than it does on credit cards. Let’s take a closer look at both, starting with loans. How Does APR Work on Loans and Mortgages? On a loan or mortgage, APR tells you to the total amount of interest and fees you’ll pay each year. The types of fees depend on the type of loan. On a personal loan, for instance, a common additional fee is an origination fee. On a home loan, the main additional fee is closing costs. If your loan or mortgage doesn’t have any fees, then the APR will equal the annual interest rate. Let’s say you borrow $100,000 at a 5% interest rate on a 30-year fixed rate mortgage. You pay $1,000 in closing costs. Your APR, then, is 5.1% (interest rate + closing costs, as a percentage of the principal). You would pay $5.10 each year for every $100 you borrowed. APR includes closing costs, so it’s a more realistic representation of your long-term costs than the annual interest rate is. Because of the Truth in Lending Act of 1968, lenders must calculate loan APR in the same way. This consistency allows you to compare offers and clearly see your long-terms costs. APR gives customers a quick and easy way to compare the terms of loans or mortgages on an apples-to-apples basis. By knowing the APR, you can use an APR calculator to calculate your monthly payments and figure out how much you’ll end up paying in fees and interests. Usually, a lower APR means you’ll spend less money over the long term. To see why, consider the example of a $200,000 mortgage below with two loan APRs that differ by just a few percentage points. Thanks to the 1968 Truth in Lending Act, all lenders must calculate APR in the same way. Examples of APR on a 30-Year Mortgage Let’s consider two scenarios using a $200,000 mortgage. In the first scenario, you get a 5.5% APR on a 30-year mortgage. In the second, you manage to get just a 5.2% APR over 30 years. By comparing the two rates, you can see how much money you save in the long run with an APR that’s only slightly lower than another one. Scenario 1: $200k Mortgage With a 5.5% APR Using Bankrate’s APR calculator, let’s consider a $200,000 mortgage over a 30-year term with a 5.5% APR. To pay off this mortgage over 30 years, you’d have a monthly payment of $1,135.58. After 30 years, you’d end up paying a total of $408,807. Since you initially took out $200,000, this means you’d end up paying $208,807 in interest and other fees. Scenario 2: $200k Mortgage With a 5.2% APR What if your APR was a bit lower, say 5.2%? How much would you save in the long run? With a 5.2% APR on a $200,000 loan, you’d pay $1,098.22 a month for 30 years for a total of $395,361. Your additional costs would add up to $195,361 - a large amount, but significantly lower than the costs incurred with a 5.5% APR. You would pay $13,446 less on a $200k, 30-year mortgage with a 5.2% APR than you would with a 5.5% APR. As you can see, getting a mortgage with a slightly lower APR can save you a significant amount of money in the long run. When you're shopping for a mortgage, you should compare offers to get the best deal. Now that you have a sense of how APR works on a loan or mortgage, let’s look closer at how annual percentage rates work on credit cards. When you're choosing a 30-year mortgage, remember that a difference of just one or two percentage points in an APR can make a big difference in your long-term costs. How Does APR Work on Credit Cards? When you look at a credit card, you’ll see several APRs. Credit cards have different APR for different types of transactions, like one for making purchases and another for transferring cash. For most people, the APR related to making purchases is the most important rate. On credit cards, APRs don’t typically include additional fees related to cash advances or late payments. Rather, they reflect the daily periodic rate, or the interest that’s calculated on your account each and every day, over the entire year. If you want to know your daily periodic rate, then you can simply take the APR and divide it by 365. How do credit cards come up with APR? They use the U.S. prime rate and then add their own margin. For instance, the prime rate could be 5% and the issuer could charge a 12% margin. The APR, then, would be 17%. APR on a credit card could stay the same from year to year, or it could fluctuate along with the U.S. prime rate. APRs that change are called floating or variable APRs. Your APR may also depend on your creditworthiness, as you’ll see in the example below. People with higher credit scores get a lower APR, and people with lower credit scores get a higher APR. Credit card companies may also offer promotional APRs when you open a new account. You could get 0% APR on purchases for the first year. After that promotional period, the APR would return to the normal rate. While you’ll see a lot of promotions regarding APR from credit card companies, you should keep in mind that APR may not matter. In fact, it shouldn’t even be a factor for many people. Read on to learn why. Are you making a purchase? Transferring cash? A credit card usually has several APRs, one for each kind of transaction. APR on Credit Cards: Does It Matter? If you pay off your full credit card balance every month, then you will never have to pay interest. For all intents and purposes, your APR is always 0%. To use a credit card responsibly, you should always pay off your full balance every month. Credit card interest rates are high, and carrying a balance is one of the quickest ways to get into debt. If you’re spending more than you can afford to pay off within the month, then you need to step back, make a budget, and take steps to control your personal finances. If you’re using a credit card well, then the promotional and regular APR offers should not matter. Instead, you can choose a credit card based on other perks, like cash back and travel points. Speaking of travel rewards, let’s look at one of the best cards for travel points, the Chase Sapphire card, to get a sense of its various APR structures. If you pay off your full credit card balance every month, then your purchase APR will be 0%. Example of APR on the Chase Sapphire Preferred Credit Card Here are the various APRs on the Chase Sapphire Preferred credit card, as borrowed from its website. Notice how it offers a range of rates, based on your â€Å"creditworthiness.† The first is the one that applies to credit card purchases, while the others have to do with other transactions. INTEREST RATES AND INTEREST CHARGES Purchase Annual Percentage Rate (APR) 16.24% to 23.24%, based on your creditworthiness. These APRs will vary with the market based on the Prime Rate. Balance Transfer APR 16.24% to 23.24%, based on your creditworthiness. These APRs will vary with the market based on the Prime Rate. Cash Advance APR 25.24%. This APR will vary with the market based on the Prime Rate. Overdraft Advance APR 25.24%. This APR will vary with the market based on the Prime Rate. How does Chase Sapphire calculate its credit card APR rates? It uses the U.S. prime rate as of December 22, 2015, which was set at 3.5%. According to Chase, â€Å"We add 12.74% to 19.74% to the Prime Rate to determine the Purchase/Balance Transfer APR...We add 21.74% to the Prime Rate to determine the Cash Advance/Overdraft Advance APR.† As with many other lenders, Chase sets its own margin and adds this margin to the prime rate. Then, it assigns APRs based on the creditworthiness of each individual. Again, credit card APR might not come into play if you pay your balance off in full from month to month. It’s still important to know what you’re signing up for, though, just so you understand the costs that you can incur from using a credit card. In closing, let’s go over the key points you need to remember about APR, including what it is and how you can use it to decide between loans, mortgages, or credit cards. Some credit cards have a floating APR that fluctuate along with the prime rate. APR: Just the Basics APR, or annual percentage rate, works a little differently on loans than it does on credit cards. A loan APR tells you what percentage of your loan or mortgage you’ll be paying in interest and other fees each year. Because it incorporates costs beyond interest, APR is a more inclusive rate than interest rate. If there are no additional costs, then the loan APR will be the same as the annual interest rate. Since all lenders must calculate APR in the same way, APR helps consumers compare loan and mortgage offers on a standardized basis. In most cases, you’ll save money by getting the lowest APR you can. If you’re comparing credit card offers, remember that the â€Å"purchase APR† is likely the most relevant piece of data. Ideally, you won’t be paying any interest on your credit card. If you always pay off your monthly balances in full, then you can choose a credit card based on its rewards and points structure rather than on its various APRs. Whenever you’re taking out a loan or opening a card, make sure to read the ins and outs of any contract before you sign it. By looking at APR, you can gain a clear understanding of your long-term costs. What's Next? Which credit card is best for you? Check out our personal spending quiz to find the best credit card for your habits. Do you want to take a more proactive approach to managing your finances? Check out our 7-step guide for taking control of your personal finances. Are you starting to think about investing in the stock market? 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The Womans Bible and Elizabeth Cady Stanton on Genesis

The Woman's Bible and Elizabeth Cady Stanton on Genesis In 1895, Elizabeth Cady Stanton and a committee of other women published The Womans Bible. In 1888, the Church of England published its Revised Version of the Bible, the first major revision in English since the Authorized Version of 1611, better known as the King James Bible. Dissatisfied with the translation and with the failure of the committee to consult with or include Biblical scholar Julia Smith, the reviewing committee published their comments on the Bible. Their intent was to highlight the small part of the Bible that focused on women, as well as to correct Biblical interpretation which they believed was biased unfairly against women. The committee did not consist of trained Biblical scholars, but rather interested women who took both Biblical study and womens rights seriously. Their individual commentaries, usually a few paragraphs about a group of related verses, were published though they did not always agree with one another, nor did they write with the same level of scholarship or writing skill. The commentary is less valuable as strictly academic Biblical scholarship, but far more valuable as it reflected the thought of many women (and men) of the time towards religion and the Bible. It probably goes without saying that the book met with considerable criticism for its liberal view on the Bible. An Excerpt Heres one small excerpt from The Womans Bible. [from: The Womans Bible, 1895/1898, Chapter II: Comments on Genesis, pp. 20-21.] As the account of the creation in the first chapter is in harmony with science, common sense, and the experience of mankind in natural laws, the inquiry naturally arises, why should there be two contradictory accounts in the same book, of the same event? It is fair to infer that the second version, which is found in some form in the different religions of all nations, is a mere allegory, symbolizing some mysterious conception of a highly imaginative editor. The first account dignifies woman as an important factor in the creation, equal in power and glory with man. The second makes her a mere afterthought. The world in good running order without her. The only reason for her advent being the solitude of man. There is something sublime in bringing order out of chaos; light out of darkness; giving each planet its place in the solar system; oceans and lands their limits; wholly inconsistent with a petty surgical operation, to find material for the mother of the, race. It is on this allegory that all the enemies of women rest, their battering rams, to prove her. inferiority. Accepting the view that man was prior in the creation, some Scriptural writers say that as the woman was of the man, therefore, her position should be one of subjection. Grant it, then as the historical fact is reversed in our day, and the man is now of the woman, shall his place be one of subjection? The equal position declared in the first account must prove more satisfactory to both sexes; created alike in the image of God -The Heavenly Mother and Father. Thus, the Old Testament, in the beginning, proclaims the simultaneous creation of man and woman, the eternity and equality of sex; and the New Testament echoes back through the centuries the individual sovereignty of woman growing out of this natural fact. Paul, in speaking of equality as the very soul and essence of Christianity, said, There is neither Jew nor Greek, there is neither bond nor free, there is neither male nor female; for ye are all one in Christ Jesus. With this recognition of the feminine element in the Godhead in the Old Testament, and this declaration of the equality of the sexes in the New, we may well wonder at the contemptible status woman occupies in the Christian Church of to-day. All the commentators and publicists writing on womans position, go through an immense amount of fine-spun metaphysical speculations, to prove her subordination in harmony with the Creators original design. It is evident that some wily writer, seeing the perfect equality of man and woman in the first chapter, felt it important for the dignity and dominion of man to effect womans subordination in some way. To do this a spirit of evil must be introduced, which at once proved itself stronger than the spirit of good, and mans supremacy was based on the downfall of all that had just been pronounced very good. This spirit of evil evidently existed before the supposed fall of man, hence woman was not the origin of sin as so often asserted. E. C. S.

The case of christ Essay Example | Topics and Well Written Essays - 1000 words

The case of christ - Essay Example From this movement has come the Christian apologetics who, according to The Christian Apologetics & Research Ministry, are a group of people that â€Å"use logic and evidence to defend Christianity and promote the truth of the Bible†(Slick, 2011). Perhaps one of the most influential books from the Christian Apologetics movement is The Case for Christ which proposes a myriad of evidence that supports the existence of Jesus Christ as the Son of God. Lee Stobel and Jane Vogel, authors of the Student Version of The Case for Christ, provide a summary of who Jesus Christ was. At the very core of the argument is that Jesus was the Messiah and the Son of God (Strobel and Vogel, 23). His role on Earth was to save the sinners which was accomplished by sacrificing himself and dying on the cross for everyone’s sins. One of the important aspects of this that the authors take on is the fact that Jesus did not explicitly state that he was God: â€Å"Some of Jesus’ statements a s they are recorded in the Bible don’t seem to be clear claims that Jesus is God†(Strobel and Vogel, 23). However, Strobel provides several scriptures that support the claim that Jesus believed he was God and through conversations with disciples, followers, and others stated as much. Some of the evidence included Matthew 16: 15-17 where Jesus asks Peter who he (Peter) thinks Jesus is and Peter replies â€Å"You’re the Christ, the Messiah, the Son of the Living God†(Strobel and Vogel, 23). Strobel present very convincing evidence that Jesus was in fact the Messiah by way of presenting Isaiah 53 which is in essence a prophecy of who the Messiah would be. Strobel claims that Jesus matched the prophecy and that many of these aspects could not be manipulated by Jesus in order to make them match such as birthplace, family, the betrayal by Judas Iscariot, and the guards that gambled over Jesus’ clothes when he was dying on the cross(Strobel and Vogel, 44-4 6). Since Isaiah 53 was written hundreds of years before Jesus was born, the argument that Jesus was indeed the Messiah is extremely convincing. The next step in presenting the case for Christ is to delve into the reliability of the Gospels which are the books of the Bible that detail Jesus Christ and his life. Strobel presents evidence that indicates that these books are quite reliable. The biggest piece of evidence is the differences between Matthew, Mark, Luke, and John. Although many people would say these contradictions make the books less reliable, Strobel disagrees stating that â€Å"the idea is that if the writers were lying, they’d make sure to get their stories straight—and they’d agree in every detail. What seems to be a contradiction is often the same event viewed from different perspectives†(Strobel and Vogel, 54). Additionally, Strobel brings up an interesting point about the timeline of Christ’s death and the teachings of Paul. Accor ding to Strobel, the timeline suggests that Paul came to learn about Christ dying on the cross for the world’s sins and his resurrection within 2-5 years of it occurring. Strobel makes the argument that the fact Christianity was already teaching this aspect about Christ suggests that â€Å"that’s far too fast for legend to have developed and wiped out a core of historical truth†(Strobel and Vogel, 60). This is compelling evidence since it is widely thought that the time

LukoilBP Comparison Case Study Example | Topics and Well Written Essays - 1250 words

LukoilBP Comparison - Case Study Example Nonetheless, its performance in boosting its market value has been described as hyper in nature as evidenced by the graph below: This ratio is the company's share price at year end divided by basic income per share. Basic earnings per ordinary share amounts are calculated by dividing the profit for the year attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the year. The average number of shares outstanding excludes treasury shares and the shares held by the employee share ownership plans. The following tables detail BP and OAO LUKOIL share price, basic income per share and the price to earnings ratio: BP, having wider operations than LUKOIL, registers a higher P/E ratio. However, computing for the rate of change of the P/E, it is found that LUKOIL is registering much higher growth than BP. The results are shown below: With this information, it can be seen that LUKOIL registers double digits for the P/E ratio. This growth essentially tells the investor that LUKOIL is outperforming BP. Although the investor can expect higher returns for BP, this may not be the case in the future as LUKOIL's P/E growth rate is double that of BP. Basically, the P/E ratio is expected to increase as Basic Earning Per Share are also up with share price also expected to increase because of the good performance of LUKOIL. ... Sample Computation: ( LUKOIL 2005) P/E = Share Price / Basic Earnings Per Share = 59.40 / 7.91 = 7.51 BP, having wider operations than LUKOIL, registers a higher P/E ratio. However, computing for the rate of change of the P/E, it is found that LUKOIL is registering much higher growth than BP. The results are shown below: Table 4. Rate of Change Profile P/E Rate of Change (%) 2003-2004 2004-2005 LUKOIL 13.62 28.60__ BP 6.07 12.36__ The computation for the rate of change was carried on using the following equation: Rate of Change = ( P/E for Year End - P/E for the Previous Year End) * 100% P/E for the Previous Year End With this information, it can be seen that LUKOIL registers double digits for the P/E ratio. This growth essentially tells the investor that LUKOIL is outperforming BP. Although the investor can expect higher returns for BP, this may not be the case in the future as LUKOIL's P/E growth rate is double that of BP. Forecast The most recent available projection for LUKOIL is a 9M 2006 projections and is conveniently compared to 9M 2005. It is shown below: Table 5. Financial Forecast Source: 2006 Financial Results from www.lukoil.ru/ investorcenter Basically, the P/E ratio is expected to increase as Basic Earning Per Share are also up with share price also expected to increase because of the good performance of LUKOIL. The company is currently very aggressive in entering and capturing a major portion of the US market. It has already purchased rights to Getty and its oil distribution facilities in the US. With regards to BP, the P/E ratio is forecasted to increase as well