Teletech Case Essay Example for Free

Teletech Case Essay Background The Teletech Corporation operated in two business segments: Telecommunications Services (TS), and Products and Systems (PS). Though Teletech was a dominant service provider in the area, the company has been experiencing a downtrend of earning growth and stock prices due to keener competition and worse performance in certain segment. Problems statement Teletech has been using economic profit as a measure of value creation at the segment and business-unit level and net present value as a measure of value creation at the project level; and both these values were calculated using the hurdle rate. The main problem faced by Teletech was that the company leaders had to decide what hurdle rate(s) should be used for evaluating performance and budgeting of each segment; and what would be the future of the PS unit, having in mind the accusatory letter of the new 10% stakeholder, Victor Yossarian. By October 2005 only one corporate hurdle rate of 9. 30% was used for performance assessment, and the rate was based on the Teletech’s WACC as a representation of the opportunity cost of money. There was an ongoing debate if one common corporate hurdle rate should continue be used for valuation, or different hurdle rates which take into account the associated with the investments risk should be implemented. There was a doubt that the returns of the PS segment were relatively high because they were compared to the not risk-adjusted corporate hurdle rate, and that in fact the PS segment was reducing the shareholders’ value. Victor Yossarian’s opinion was that Teletech had to get rid of the PS segment as it was not providing adequate return. Hurdle rates recommendation We recommend that Teletech should use two different hurdle rates for both segments. First, using WACC as a corporate hurdle rate is not appropriate since different segments have different investment risks. The Products and Systems segment (with the beta of 1. 36) clearly had higher risk than Telecommunication services (with the beta of 1. 04). Thus, instead of using one hurdle rate calculated based on the corporate beta of 1. 15, using two rates will allow the returns of the segments to be compared to more suitable risk-adjusted rates. See Exhibit 1) Second, our calculation shows that using two hurdle rates would result in higher economic profits of each segment as well as in total (See Exhibit 3). Higher profit would make company more attractive to investors. Third, using different hurdle rates also would help the assessment of capital-investment proposals more accurate. Since different segment has different risk, when evaluating a project, the firm shoul d classify the project into each segment and use an appropriate hurdle rate of the corresponding segment to calculate NPV of the project. That would make the NPV of the project more precise. For example, the Telecommunications services had lower risk, lower beta, thus it had lower cost of capital. So, if everything else equals, the NPV of a project in the TS segment should be higher than that of the PS segment. This should be reflected in a lower hurdle rate for TS and a higher hurdle rate for PS. PS recommendation We recommend forming PS as separate entity (financially) , considering possible unit reorganization or sale. Our reasoning is: †¢ The PS segment does not provide satisfactory return, although it is shown as profitable when compared to the corporate hurdle rate of 9. 30% (or even with a PS segment hurdle rate see detailed calculation in Exhibit 1 and returns-hurdle rates comparison in Exhibit 2), or in terms of Economic profit (see Exhibit 3). However, the reported high returns are mainly because PS is able to receive low-interest debt based on the higher aggregate corporate rating. However, if the PS segment is organized as a separate entity (with assumed BB rating), then it will need at least 86% equity financing to be break even, assuming that PS 11% ROC will remain constant (see Exhibit 4 for the calculation). †¢ The TS segment will be able to provide higher return; because of the expected A rating and the associated lower loan rates and higher leverage. The TS will have a higher price per share, closer to the industry, as a result of the reduced investment risk (surpassing the risk of higher leverage). Assuming that the company activities are transparent, the price per share could go even higher, as there will not be doubt that a profitable segment of the company will cover the unsatisfactory performance of another segment. Other recommendations We recommend that the company should disclose more information. The view that â€Å"All money is green† and investors do not know as much about the firm’s operations as the company, should be rejected. More transparency would narrow the gap between uninformed (or small) and informed (or large) investors, thereby lowering the cost of capital.

Impact of Self Concept and Self Esteem on Group Communication :: Communication

My paper is about the affects self concept and self esteem have on group communication, through group communication we grow as people because we see how others define us as individuals. Through group communication we can solve a problem better then by ourselves. Self concept is the cognitive thinking aspect of self also related to one’s self-image, it’s the way we see our selves in the mirror. Self concept is the way we told to see ourselves we are grown into our self concept by what we learn when we our young from our parents or our peers. Self concept is changed through out life from how people look at you and tell you what you are to them, if they say a person is nothing then that person will believe it for as long as it takes to get over it. Self esteem is the affective or emotional aspect of self and generally refers to how we feel about or how we value ourselves, also known as one’s worth. Educators, parents, business and government leaders agree that we need to develop individuals with healthy or high self-esteem characterized by tolerance and respect for others, individuals who accept responsibility for their actions, have integrity, take pride in their accomplishments, who are self-motivated, willing to take risks, capable of handling criticism, loving and lovable, seek the challenge and stimulation of worthwhile and demanding goals, and take command and control of their lives. In other words, we need to help foster the development of people who have healthy or authentic self-esteem because they trust their own being to be life affirming, constructive, responsible and trustworthy. Some have referred to self-esteem as merely â€Å"feeling good† or having positive feelings about oneself. Others have gone so far as to equate self-esteem with egotism, arrogance, conceit, narcissism, a sense of superiority, a trait leading to violence. Such characteristics cannot be attributed to authentic, healthy self-esteem, because they are actually defensive reactions to the lack of authentic self-esteem, which is sometimes referred to as â€Å"pseudo self-esteem.

Jesus Christ Essay

In most part of the world, Jesus Christ is not a stranger in concept and in fame. Some books in the Holy Bible were even devoted to discussing and retelling the life of Jesus Christ. It could be seen then that the main writers or proponents regarding the accounting of Jesus’ life and works were written by Matthew, Mark, Luke and John. These four writers wrote the first four books that could be found in the New Testament. As was mentioned earlier, these books were dedicated in telling the readers about Jesus and how He had come to dominate a part of the world with His teachings. In the book written by Joseph Girzone, he had recreated the stories that could be found in the first books of the New Testament and made it reader friendly. In a way, the author had omitted the things that are not part of the story of Jesus’ life and teachings. He then had patched up or combined the books in chronological order, from the birth of Jesus Christ to His death and Resurrection. The first thought that came into my mind is that the book is not completely different than what could be found in the Bible. However, the advantage of having this book is that it is already arranged in a way that would not confuse the readers. The book, ‘Jesus, His Life and Teachings: As Recorded by His Friends Matthew, Mark, Luke, and John,’ could be used by those who are only interested in knowing the life of Christ and also His teachings. A person could refer to the Bible, of course, but this book makes it easier to read since the chronological aspect of Jesus’ stories are already laid down. It was said that Joseph Grizone had already written books where Joshua is the character and since more and more people are turning towards his concept of Joshua, he then tried to resolve this by publishing the life of Jesus in the light of the Joshua fame (Maudlin). The book then was published in order to counter the influence of Grizone’s Joshua. It was not surprising that Grizone’s character had clicked among the people since most of the people are looking for an example that is highly mortal in disposition. The first point of the book then is the story concerning the birth of Jesus Christ. Naturally, this aspect of the book covers the story of how Mary was already engaged to Joseph and how Mary was visited by an angel to impart the good news (Girzone). As a chosen woman, she then would carry Jesus in her womb through the Immaculate Conception. Another aspect of the book is Jesus’ journey in spreading the word of God. It could be seen, or read rather, that Jesus had travelled widely with his apostles and wherever He went, blessings and lessons could be received. There were numerous instances where Jesus had swayed the masses towards His cause just by doing the works of God. This is where His popularity had grown. Along with His popularity then, persecution and accusations had then arisen along with the suspicion of the authenticity of Jesus’ principles. With the persecution, Jesus then had to undergo hardships from the so-called leaders of the time and was incriminated to die through crucifixion. These hardships could be seen as Jesus’ Passion. This is where Jesus had to walk along the street and carry the burden of the cross. He was asked to renounce His teachings but Jesus did not try to defend Himself nor revoke what He had already shared about His Father. He then had to suffer publicly and die in the cross. In every beginning there is an ending. But this could not be the holistic case of Jesus Christ. He may have died during the crucifixion but He resurrected from the dead and descended into Heaven to claim His spot beside His true Father. This concept of resurrection is important for the believers since it is the sign that Jesus had already left the mortal domain and went to Heaven. Also, this concept would also entail that the Holiness of Jesus could no longer be contested by those who had persecuted Him. It was said that who shall ever believe in Him (Jesus) shall be saved. In this light, Jesus then became the bridge that would cover the gap that man has with God. The book may not have any difference at all from those that are from the New Testament but what Grizone did was to combine the efforts of the four disciples and retold the greatest story. Having a subject about the New Testament, the book could be very helpful especially when some parts of the New Testament contain the story of Jesus Christ. A big bulk in studying the New Testament is the part where God had sent His own Son to save us, the sinners. The book then could provide a simple and easy access for the students who want to know the story. However, it should be noted that not all of the contents in the New Testament were included in Grizone’s book so it should be considered that there could be other sources that can be used. The main point here though is that Grizone’s retelling of Jesus’ story is a much easier version to understand especially when he had already incorporated what Mathew, Mark, Luke, and John had written in the first four books of the New Testament.

Gay Marriage Should Be Legalized - 1379 Words

Name: Tutor: Course: Date: Gay Marriages Marriage is considered as hypothetically speaking, a rite of passage whilst from the religious point of view, it is considered as holy matrimony before a supreme being. Attraction between individuals of the same sex has been a topic of debate since time immemorial. However, over the past few years gay individuals have opted to air grievances of oppression despite receiving tremendous critics from the public. Initially, gay marriages were unfathomable events to the mere mind and culminated in the rise of heated debates between the supporters and critics among the church being at the forefront. However, times are different now, and gays are becoming more accepted in the society as well as all that pertains to daily lives such as marriage, gay events just to mention but a few. This argumentative essay focuses on the central issues of gay marriage and evaluating arguments on whether the gay marriage should be legalized. During medieval times, gay people were loathed and were considered as immoral. Researchers plunged into carrying out studies based on mental functioning all in an effort to determine the cause of affective dysfunction. In the process, critics posed an argument that gay behaviors were learned, hence being gay is an acquired behavior. However, this critics was overthrown by the fact research revealed that the main problem was in the effective functioning of the individual hence making the behavior naturally acquired. TheShow MoreRelatedGay Marriage Should Be Legalized938 Words   |  4 Pages Gay marriage is in fact a controversial topic that many people feel strongly about. I believe that gay marriage should be legalized without being penalized by people who disagree with it. I will, within reason, explain to you why gay marriage should be legalized and argue against Karlee’s essay about why gay marriage shouldn’t be legalized. The first thing Karlee talks about in her opposing essay is, â€Å"Children of same-sex couples, biological or not, need both a mother and a father inRead MoreShould Gay Marriage Be Legalized?1313 Words   |  6 PagesCredit – Should gay marriage be legalized? Marriage is considered to be the rite of passage from an religious point of view, it is considered as holy matrimony before the eyes of God. Attraction between individuals of the same sex has been a topic of debate. However, over the past few years gay individuals made a decision to our grievances of oppression despite receiving tremendous critics from the public. Initially, gay marriagesRead MoreShould Gay Marriage Be Legalized?935 Words   |  4 PagesThere is a lot of controversy about gay marriage and whether or not it should be legalized in certain states that haven t yet legalized it. My opinion on this topic is that it should not be legalized for various reasons. 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According to an article from the Human Rights Campaign, there is nothing wrong with allowing homosexuals to have the same rights as those who are heterosexual. Every individual person should be granted equal rights, regardless of sexuality. Gay marriage should be legalized in all states and coun tries, it has been held off for too long. MoreoverRead MoreShould Gay Marriage Be Legalized?727 Words   |  3 Pages Everyone, regardless of gender orientation or sexual preference deserves equal rights, such as marriage, feeling comfortable with whom they are, and being treated like any other human being. Right now gay marriage is a hot topic in many states, however, what say should the government get in who you love and want to marry? Beyond a court room, research has been done on the idea of transgenderism and what causes people to be like that or if people are truly born in the wrong bodyRead MoreShould Gay Marriage Be Legalized? Essay464 Words   |  2 PagesMarriage is defined as the state of being a married couple voluntarily joined for life. In the definition it says couple, with out indication of gender. In our society gay marriage is a hot topic. Previously legalizing gay marriage was out of the question, but as times has changed and more liberal politicians have gained office to reflect th e views of today’s society. One of the reasons that LGBT people fight for the right to marry because married couples receive more protections and advantages in