Breast Cancer Cancer And Cancer - 981 Words

The Grand Rounds Research Project: Breast Cancer To hear you have breast cancer can be a very shocking thing. â€Å"Besides skin cancer, breast cancer is the most common cancer diagnosed among women in America as of 2015† (breastcancer,2015). First step is to know what you are dealing with when your doctor believes you have cancer, you will want to know what cancer is and how your doctor can detect it. Next your doctor will go over different stages of breast cancer that will help come to a conclusion on your next step. Lastly you and your doctor will go over the different treatment plan that best fits you. This journey a women or man will take when being diagnosed with cancer is a long and hard one but, with the help from your doctors and the knowledge you can get through this. Carcinoma is a cancer that develops from the epithelial cells, which begins in the tissue that lines the outer and inner surface of the body. Breast cancer is a growth of mutated cells that forms in the lobules, the ducts, and also the stromal tissue of the breast. Stromal tissue is the fatty fibrous tissue that holds and supports the breast. The cause of these mutated cells is the change in the genes that is responsible of healthy cell growth. These genes can be inherited from family genetics or the most common way which is the aging process. With this process the healthy cells replace themselves with new ones and the old cells die out, but with family genetics and age these cells no longer die outShow MoreRelatedBreast Cancer : Cancer And Cancer Essay1433 Words   |  6 PagesBreast cancer is a carcinoma that develops due to malignant cells in the breast tissue. Cancerous cells are more likely to produce in the milk-producing ducts and the glands, ductal carcinoma, but in rare ca ses, breast cancer can develop in the stromal, fatty, tissues or surrounding lymph nodes, especially in the underarm (Breast Cancer). For women, breast cancer is the most commonly diagnosed cancer and the 2nd leading cause of cancer death – behind skin cancer. While treatment or surgeries canRead MoreBreast Cancer : Cancer And Cancer1346 Words   |  6 Pagesinternational symbol for breast cancer support and awareness. Breast cancer knows neither racial boundaries nor age restrictions. Females of all ages and ethnicities can develop breast cancer and it is the leading most common cancer among women. Calling attention to this often fatal disease is important by supporting its victims, families and friends of victims, as well as raising funds for breast cancer research. Though males are not immune from developing a breast cancer, for the purposes of thisRead MoreBreast Cancer : Cancer And Cancer Essay1711 Words   |  7 Pagesacknowledge the health beings of a women is q uite scary knowing that in about 1 in 8 women in the U.S will develop breast cancer. By this year of 2016 going into 2017 there will approximately be 246,660 cases found. The 20th century is described to be the cancer century. One main cancer I wanted to talk about that has my full attention was breast cancer. The important ways of looking at breast cancer as a tremendous problem is because we are losing our women to this disease. Categorizing the main issues toRead MoreBreast Cancer : Cancer And Cancer946 Words   |  4 PagesSkylar Steinman Period 6 Ms. Jobsz 12 February , 2016 Breast Cancer It is commonly known that Breast Cancer is one of the most insidious diseases that mankind has had to deal with. With the discovery of the BRCA1( BReast Cancer gene one) and BRCA2 (BReast Cancer gene two) genes, breast cancer can be detected with a great amount of certainty on a genetic level in some women and men. 40,000 women and men die of breast cancer each year. Knowing this it is very important to try to detect the mutationRead MoreBreast Cancer : Cancer And Cancer1530 Words   |  7 Pagesâ€Å"Cancer† is the name for a group of diseases that start in the body at the cellular level. Even though there are many different kinds of cancer, they all begin with abnormal cell growth with the potential to invade or spread to other parts of the body. These abnormal cells lump together to form a mass of tissue or â€Å"malignant tumor†. Malignant means that it can spread to other parts of the body or Metastasize . If the breast is the original location of the cancer gr owth or malignant tumor, the tumorRead MoreBreast Cancer : Cancer And Cancer Essay1741 Words   |  7 Pages Internationally, breast cancer is the most commonly diagnosed cancer and the leading cause of cancer related death amongst women. (CITE) Each year an estimated 1.7 million new cases are diagnosed worldwide, and more than 500,000 women will die of the disease. (CITE) According to (CITE), somewhere in the world one woman is diagnosed with breast cancer every 19 seconds and more than three women die of breast cancer every five minutes worldwide. (CITE) Breast cancer is a heterogeneous condition thatRead MoreBreast Cancer : Cancer And Cancer1714 Words   |  7 PagesBreast Cancer The twentieth century has often been called and known as the cancer century. The reason being is that throughout the century, there have been more than a hundred types of cancer discovered across the world. In addition to the discovery of these many cancers, there has been an enormous medical effort to fight all kinds of cancer across the world. In the early decades of the century, cancer was considered to be a fatal disease, resulting in a high number of deaths. Although manyRead MoreBreast Cancer : The Cancer Essay1722 Words   |  7 Pagesacknowledge the health beings of a women is quite scary knowing that in about 1 in 8 women in the U.S will develop breast cancer. By this year of 2016 going into 2017 there will approximately be 246,660 cases found. The 20th century is described to be the cancer century. One main cancer I wanted to talk about that has my full attention was breast cancer. The important ways of looking at breast cancer as a tremendous problem is because we are losing our women to this disease. Categorizing the main issues toRead MoreBreast Cancer : Cancer And Cancer1372 Words   |  6 PagesBreast Cancer Disease Overview Breast cancer is a disease in which certain cells in the breast become abnormal and multiply uncontrollably to form a tumor. Breast cancer is the second most commonly diagnosed cancer in women. (Only skin cancer is more common.) About one in eight women in the United States will develop invasive breast cancer in her lifetime. Researchers estimate that more than 230,000 new cases of invasive breast cancer will be diagnosed in U.S. women in 2015. Cancers occur when aRead MoreBreast Cancer : Cancer And Cancer1471 Words   |  6 PagesBreast cancer Introduction to Breast cancer Breast cancer is one of the most common forms of cancer only surpassed by lung cancer. It involves a cancerous tumour located inside the breast but spreads if treatment is not administered. (Evert et al 2011) Breast cancer can be treated if diagnosed in its early stages but becomes progressively more difficult upon reaching more advancing malignant stages. Breast cancer can be confused with being a female only disease however both sexes suffer. According

Investment and Debt Capacity Free Essays

Stock Repurchase Repurchase of stock can be viewed in each of the following way: investment, financing, shareholder distribution and control issue. Repurchase of stock can be a way to use firm’s excess debt capacity. By doing so, firm can lower the cost of equity financing. We will write a custom essay sample on Investment and Debt Capacity or any similar topic only for you Order Now If debt financing is more flexible and cheap, replace equity financing with debt financing is a good way to lower the weighted cost of capital. In this sense, such action is a financing issue because it controls the cost of financing. On the other hand, repurchase of stock can adjust shareholder distribution. If shareholders consist of most individual investors, they may require more dividends or other forms of profit sharing. Firm can repurchase stocks from such investors so that they can adjust their dividend policy. If management holds few shares of the company, they may lose their control over operating and strategy decisions. By repurchasing stocks, management could regain majority control over the company on strategic decisions. Finally, repurchase of stock is also an investment issue because it enables the firm to increase its return on equity by eliminating dilution effect. Higher return on equity will attract more favorable investors as well as better vendors. It has the same outcome of investing in businesses, so it can be viewed as an investment. Debt Capacity for Stock Repurchase From Exhibit 5, we get the total debt of Marriott at the end of 1979. We define total debt as sum of short-term loan, current portion of long-term debt, senior debt and capital leases. The average market price of Marriott in 1979 was $14. 9, and interest rate for Baa corporate debt was 12%. We assume that Marriott would repurchase stocks at price of $15 using 12% debt financing. Marriott used Adjusted EBIT over net interest as a measure for debt capacity, so we use such measure as well. The table above shows the main assumptions we make in the analysis. Before the stock repurchase, EBIT adjusted/Net interest rate was 6. 64, above the 5 times threshold Marriott set for itself. Because the net interest before repurchase was $27. 8 million, we conclude that adjusted EBIT was $184. 59 million. In 1979, additional debt from repurchase was $159 million, making the total debt $538. 83 million. Net interest after repurchase is the original net interest plus the 12% interest from new debt. Based on such analysis, the new adjusted EBIT/Net interest ratio is 3. 94, which is lower than 5. So we conclude Marriott may not have enough debt capacity to finance the stock repurchase. We further perform a scenario analysis. Suppose Marriott had just enough debt capacity, which means new adjusted EBIT/Net interest ratio equals 5. We find that repurchase price should be $7. 17 so that Marriott could utilize its debt capacity fully. We conclude that a repurchase price under $7. 17 is in fact transferring value to remaining group because they can share more future profits resulting from the concentrated equity. Yet a repurchase of $15 is way above $7. 17, which means selling shareholders have more value because they are compensated with higher return. Owned vs Managed Marriot has two options about the operation of hotel chains. First, it can own the hotel and enjoy the profit margin. Second, it can sell the hotel but retain management contracts so it controls the operation of such units. Following is the detailed decomposition of costs associated with two options. According to Exhibit 9, in 1978 the typical cost for a hotel room consists of improvement cost, furniture, fixtures and equipment cost, land cost, pre-opening cost and operating cost. For an owned hotel, Marriot had to pay the total cost for running the property, but if it is managed, Marriot only had operating cost because the buyer was responsible for the maintenance. In an attempt to emphasize more on return on invested capital rather than margins, Marriot sold some of their existing hotels and retained management contract to free up capital. Managed hotels had operating margin of 8%-10%, while owned had 15%. We assume 10% margin for managed hotels and 15% for owned hotels. To decide when to sell the property, we analyze the remaining present value of future cash flow of a hotel at different point of time in its life cycle. We further assume that when the hotel is sold, the selling price is set so that present value of future cash flow equals the 10% margin. We assume $50 revenue per room night of a typical 150-room hotel, and one year has 360 days. Sales level for each year in the life cycle connects to the occupancy rate. From the graph of Exhibit 9, we get different occupancy rate for the whole life cycle. It reaches the peak 100% at year 8, and after year 10, it declines almost linearly to 10% in year 30. We can see that if Marriot sells the hotel before opening, the selling price would be $1. 63 million at time 0. After the peak, let’s say, year 9, the selling price would be $ 1. 55 million at time 9. We can also see that in fact the max value of PV is at year 4, which has $2. 85 million in PV at 15% margin. Marriot would free up more capital if it sells the hotel before opening, but instead it would lose more operating profit. If Marriot is in short of capital, it could sell the hotel up-front so that the freed up capital can be invested in other profitable projects. Selling after the peak is a good choice if Marriot wants to enjoy the increasing operating profit before the peak. Shareholder value can be added if the return on freed-up capital exceeds the profit loss from selling the property. Recommendation Based on our analysis, we would recommend the company to investing in their core business to fully use their debt capacity. Since Marriott’s debt capacity is only able to repurchase 10. 6 million shares at a price significantly lower its current trading price (according to Exhibit 12). It is unlikely the repurchase strategy would take place as expected. The negative impact of false interpretation that the Marriott has reached its growth limit may not be offset even if the repurchase take place. To decide whether to invest in core business or diversify by acquisition we take a look of the hotel’s current state. The company now is operating in four main sectors, hotel group, contract food service, restaurant group theme parks and cruise ships other. Based on exhibit 3, all of MC’s sectors are doing well in the past few periods; Hotel group is still the main profit sector account for 51% of the total operating profit and 16. % of the gross margin. Theme park and restaurant sectors have contributed a lot to total revenue but at the same time involve more risk. The asset associated with that new business couldn’t be mortgaged easily. Marriott’s theme park alone was estimated to cost 80 million but double of the estimation eventually, the investment made MC to lower its debt credit level. If we use the extra de bt capacity on acquisition of new business, there could be a higher risk of availability and cost of long-term debt financing, which may cause MC to lower its debt credit even lower and increase its defalt risk. As a company mostly processioned in hotel management, invest in new businesses that required new management style also increases MC’s operating risk. Marriott’s hotel business has positioned itself to operate for customers whose travel plans were less subject to change than those of vacationers. Its historical operation has showed steady healthy growth even in recessions. Most of the sector’s assets are real estates and tends to appreciate over time rather than depreciate, it is easy to issue debt secured by hotel assets. Prevailing trends also indicate sighs of need of rapid room expansion. As MC’s major competitors Hilton and Holiday Inn are shifting their core business to a more diversified market, keep focus on core hotel business enable MC to maintain its own competitive advantage in operation. Overall we would suggest MC to use its excess debt capacity to invest in existing hotel with some clientele base but lower entry cost where the Marriott‘s acquisition can significantly improve the operation. To invest in such assets, there is low research and construction cost but easy to manage with sustainable growth. We believe that the best investment for corporation would be investing in the existing business. The hotel business was the most promising area for Marriott’s Corporation. When MC’s competitors expand their business into gambling and casino ventures, MC was more likely to expand in the traditional market. To invest in the hotel business, a large amount of external financing is needed. A large amount of Marriott hotels were managed rather than owned by the MC. Despite the MC could limited capital investment by holding the equity up to 50% so that they could increase the opportunity to be awarded the management contract, they might still need to cost a lot in investing more hotels. MC could also choose to expand their existing hotels. Those hotels have higher occupancy rate and higher local demand. Doing this expansion will need full capital investment in property. With high growth rate of hotel rooms, this investment seems valuable. However, this way of investment still needs large amount of external financing to support the expanding. Even though MC’s new hotels are profitable in the end, the cost of developing hotels is still required a big financing. In addition, due to the increasing inflation rate, the cost of equity and the cost of debt increased. Therefore, as inflation rate becomes higher, the unused debt capacity becomes less in the future. How to cite Investment and Debt Capacity, Essay examples

Risk Analysis Model Strategies with Remanufacturing

Question: Describe about the Application of adversarial risk analysis model in pricing strategies with remanufacturing. Answer: 1. The initial price level of Sheridan in the year 1982 was set at $ 3.90 for the 104 carpet. When the price was increased from this level it observed that company suffered severe loss due to this decision. The marketing manager of the company Mel Walters also estimated that the company will be able to sell more than 630000 square yard of the carpets in the beginning of the year 1983. The company was further sure that it would be able to sell more than 150000 yard of the carpet material if it decided to drop the price back to $ 3.90. It was evident the the company would suffer loss in the share price if it decided to hold back the prices at $ 5.20 per carpet (Wu and Cheng-Han). The product was considered superior to many products when it was compared with other carpets in the market. Hence Walters was confident that even the price remained at $5.20, Sheridan will be able to sell a minimum of 65000 yard of the carpet volume. Despite of the fact that the company will be able to attract lot of customers at a price point of $ 5.20, it is not feasible for the company to set the price level of the carpet at this price range (Huang et al.). It was observed that the companys percentage share in the sale of the carpet in the year 1981 and 1982 was approximately 35% (192000/549000*100) and 181000/517500*100). At this point it can be observed that Sheridans pricing strategy was set at 5.20 which are same as the competitors pricing strategy. In the selling season at the end of the year 1982 the company decided to increase the price per square yard from $3.90 to $ 5.20 there was the fall observed in the overall selling price of the company with a sale volume of only 30% (135000/450000*100). Later on in the season it was further observed that the company was able to sell only 22.22%. (112500/562500*100) this decrease in the percentage of the company showed that it is not a good decision for the company to sell the existing carpets at a rate of $ 5.20. The previous decisions of the company lead to the reduction in the sales volume when the pricing strategy was set at $ 5.20 (Sato et al.). It was also observed by Rosen that the decision to keep the price at $ 3.20 would not impact on the competitors policy to set the price level. The other companies in the same line of the business will keep the same price of $ 3.90 and due to the specialized product quality of the company the company will be able to increase the sale volume and generate more amount of revenue. This would not have been possible if the company decided to keep the price level to $3.20. This was possible as there was no interdependence between the sales and other suppliers of the carpet existing in the market (Deng et al.). 2: If the company decided to holds its share price at $ 3.90, Sheridan needs to sell a total quantity of $ 41250 and will be able to earn a gross profit of $ 214500. The calculation of the same has been illustrated with the diagram as follows: Statement of Cost Profit:- Quantity : 150000 units Particulars Amount per unit Total Amount Sales Amount (A) : 3.90 585000 Cost of Goods Sold : Raw Material 0.52 78000 Materials Spoilage 0.049 7350 Direct Labor 0.962 144300 PRIME COST (B) 1.531 229650 Direct Depertment Overhead 0.13 19500 Indirect Department Overhead 0.52 78000 General Overhead 0.289 43350 FACTORY OVERHEAD ( C) 0.939 140850 COST OF GOODS SOLD (D=B+C) 2.47 370500 Gross Pofit (A-D) 1.43 214500 Calculation for Required Quantity:- Particulars Details Sale Price Per Unit 5.2 Total Gross Profit 214500 Required Sales Quanity 41250 3. Based on the available information it can be observed that there was no major interdependence between the sale of the carpets with the other carpets available for sale. It was observed that the company will be able to sell more than 630000 yard of the carpet material at a price per unit of $3.90. In this way the company would be able to keep the price competitive and at the same time able to achieve higher amount of sale and generate more revenue. This decision is ideal for the company in the beginning if the selling season of the year 1981 and the till the beginning of the selling season in the year 1982. The company may decide to increase the price per carpet in the end of the selling season 1982 this will enable the company to achieve higher amount of revenue (Oh et al.). 4. The companys decision to raise the price level at the end of the year 1982 was a good one as Sheridan was able to increase the volume of sales. In the year 1980 it was observed that the market share of Sheridan rose from 34.97% to 34.99% in the year 11981. Despite of this fact the sale revenue was observed to decrease from 1939600 to 1111500, this depicted a reduction in the sales volume by -42.69%. In the year 1982 the company decided to increase the selling price per unit and it was observed that the company was able to increase the total sales amount by 15.79%. Despite of the fact that companys market share and change in the total market share experienced a decrease, the company was able to increase the total sales volume by 1287000. Hence this shows that the companys decision to raise the price level in the year January of 1982 was a good one (Shen et al.). In the show the rationale and the comparison for consideration of this decision is shown below with the following details: Selling Season Industry Total Sale of Sheridan Market Share Change in Market Share Sheridan's Selling Price per Unit Total Sales Volume Change in Sales Volume 1980-1 549000 192000 5.2 998400 1980-2 517500 181000 5.2 941200 1980 1066500 373000 34.97% 1939600 1981-1 387000 135500 3.9 528450 1981-2 427500 149500 3.9 583050 1981 814500 285000 34.99% 0.017% 1111500 -42.69% 1982-1 450000 135000 5.2 702000 1982-2 562500 112500 5.2 585000 1982 1012500 247500 24.44% -10.546% 1287000 15.79% Reference List :- Deng, Liurui, and Bolin Ma. "Application of adversarial risk analysis model in pricing strategies with remanufacturing."Journal of Industrial Engineering and Management, vol. 8, Vicenc Fernandez, Barcelona, 2015..doi:10.3926/jiem.1223 Huang, Hu, and Hua Ke. "Pricing decision problem for substitutable products based on uncertainty theory."Journal of Intelligent Manufacturing, 2014..doi:10.1007/s10845-014-0991-7 Oh, Sechan, James Rhodes, and Ray Strong. "Impact of cost uncertainty on pricing decisions under risk aversion."European Journal of Operational Research, vol. 253, Elsevier Sequoia S.A, Amsterdam, 2016..doi:10.1016/j.ejor.2016.02.034 Sato, Kimitoshi, and Katsushige Sawaki. "A continuous-time dynamic pricing model knowing the competitors pricing strategy."European Journal of Operational Research, vol. 229, 2013..doi:10.1016/j.ejor.2013.02.022 Shen, Luxi, et al. "Overpredicting and Underprofiting in Pricing Decisions."Journal of Behavioral Decision Making, vol. 25, Wiley Subscription Services, Inc, Chichester, 2012..doi:10.1002/bdm.746 Wu, Cheng-Han. "Product-design and pricing strategies with remanufacturing."European Journal of Operational Research, vol. 222, Elsevier B.V, Amsterdam, 2012..doi:10.1016/j.ejor.2012.04.031