Marriot Corp Cost of Capital - 2528 Words

Introduction and background We are conducting an analysis of Marriott Corporation for calculating the hurdle rates at each of the firm s three divisions--lodging division, restaurant division and contract service division. Marriott uses Weighted Average Cost of Capital (WACC) as the hurdle rate, and use it to discount the appropriate cash flows when evaluate an investment project. Our goal is to determine the WACC at every division base on the information that the case has provided. First of all, we will determine the cost of debt, cost of equity and the capital structure for the whole company. Then we will compute for the tax rate, and calculate the WACC for the whole company. After this, we will determine the Risk-free Rates,†¦show more content†¦Strategy #2 conflicts with the company s objective because the company is using hurdle rate to discount cash flows and evaluate potential investments. If Re was higher, then WACC, which is the hurdle rate, would be higher as well. If this was the case, the company s growth would be reduced therefore failing the company s growth objective. If the company s objective is to keep growing by aggressively developing appropriate opportunities, it is best if they do not use their funds to buy back stock shares, even though these shares were undervalued. So strategy #4, which is to repurchase undervalued shares, conflicts with the company s objective. When the company intends to remain a premier growth company, it must aggressively invest in different profitable projects to generate more profit. If Marriott used their funds to buy back stock shares, the available funds for investment would be reduced. This will have a negative effect on the company s growth objective. 2.How does Marriot use its estimate of its cost of capital? Does this make sense? Marriot use cost of capital as the hurdle rate to discount future cash flows for the investment projects of the firm s three divisions. Hurdle rate is the minimum rate of return that is required in order for the company to accept the investment. Marriot use the hurdle rate to calculate the net presentShow MoreRelatedMarriot Corp Case: Cost of Capital1126 Words   |  5 Pagespresident of project finance at Marriott Corporation, prepares recommendations annually for the hurdle rates at each of the firm ¡Ã‚ ¯s three divisions. In this reflective case, the company ¡Ã‚ ¯s policies and strategies related with hurdle rates and cost of capital are discussed. In the above context, the company ¡Ã‚ ¯s policy of repurchasing its shares is also reviewed ; particularly, it focuses on the financial effects there may be if there is a 30% repurchase of the common stock. For practical purposesRead MoreMarriott Corporation Case Study: the Cost of Capital Essay656 Words   |  3 PagesFinancial Decision Analysis~Marriott Corporation Case Study Executive Summary – Q5 – Hurdle Rate Analysis Hurdle rates, the weighted cost of capital that projected cash flows must exceed for initiatives to be considered, vary within Marriott Corporations due to their unique industry risk levels and capital structures. They use this number to determine which projects to accept, to adjust the rate at which the firm grows and as a measure for compensation within each business area, and as incentiveRead MoreMarriott Corporation: the Cost of Capital2323 Words   |  10 PagesMarriott Corporation: The Cost of Capital (Abridged) Are the four components of Marriot s financial strategy consistent with its growth objective? Since its foundation in 1927 Marriott Corporation grew into one of the leading lodging and food services in the US. 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What is the weighted average cost of capital for Marriott Corporation? †¢ What risk-free rate and risk premium did you use to calculate the cost of equity? †¢ How did you measure Marriott’s cost of debt? 1. Are the four components of Marriott s financial strategy consistent with its growth objective? 2. How does Marriott use its estimate of the cost of capital? Does this make sense? 3. Using the CAPMRead MoreMarriott Case Study2572 Words   |  11 Pagesas well be seen that this strategy may conflict with the objective, as the company uses the hurdle rate to evaluate potential investments where the cost of equity is higher, then the WACC would appear higher as well(hurdle rate)and distract the company to invest in some profitable ventures. c) The effort to optimize the use of debt in Marriott’s capital structure helps the company as it invests a lot in long term assets hence it is necessary for the company to maximize and optimize its debt. The companyRead MoreMarriott Corporation: the Cost of Capital2898 Words   |  12 PagesHBR Case #1 Marriott Corporation: The Cost of Capital Group 16—Tutorial Mon 11:30am Group members LIU Ying, Chloe | 1155019350 | LUO Yingying, Irika | 1155020931 | TIAN Tian, Sarah | 1155019114 | WU Jiajie, Jesse | 1155019061 | 17 September 2012 Executive Summary By 1987, Marriott Corporation had grown into a large multi-dimensional company with over $5 billion assets in lodging, contract services and restaurants. The company enjoyed fast growth in both sales and assets at aroundRead MoreAnalysis of Ioi Corporation Berhad Performance Based on 5 Years Financial Report4727 Words   |  19 Pagessustaining consistent long term growth in volume and profitability†. Today IOI Group comprises 2 listed entities on the main board of the â€Å"Bursa Malaysia†: IOI Corporation Berhad and IOI Properties Berhad. They also own 3 resort hotels under the name Marriot Putrajaya Hotel, Palm Garden Hotel and Casuarina Beach Resort. Among the company’s achievement and good works, it has won different awards and laurels from different well-recognized magazines and organizations around Asia such as; Finance Asia andRead MoreAnalysis of Capital Structure of Ihg5725 Words   |  23 PagesAnalysis of the Capital Structure of InterContinental Hot el Group (IHG) Company Student Numbers; 307473 307540 307576 308254 A dissertation in report form submitted in partial fulfillment of the requirements for Financial Management II of the Higher Diploma in Events, Hotel and Tourism Management IMI International Hotel Management Institute, Switzerland October 2010 Abstract: This report is illustrated about the capital structure ofRead MorePizza Hut Case Study3564 Words   |  15 Pageseven speaking to someone. Weaknesses However, the fact that Pizza Hut does have a restaurant to run is also a weakness. Pizza Hut has higher overhead costs, due to the restaurant that other competitors dont have to deal with. Another result of higher overhead costs is higher prices Pizza Hut must charge. Obviously, Pizza Hut is not the low cost producer. They rely on their quality pizza and good service to account for their higher prices. An indirect weakness that Pizza Hut has is that they have

Sigmund Freud Personality Development - 2005 Words

SIGMUND FREUD THERIOES By: Blanca Salinas Barry University Professor Dr. Kuzbyt PSY-305: Personality Development Summer 2016 Sigmund Freud Sigmund Freud was a man ahead of his time. His innovative thinking and his willingness to go against the rational thinking is what set him aside from his peers. His theories were controversial, but he didn’t care. His goal was to put an actual reason why things are the way they are. Not simply give a symbolical pain reliever to his patient, but to actual find the root of the problem. The following is a brief look into his theories. Religion It’s only fitting to find out Freud was not a man that believe human behavior was dictated by a supernatural force that provoked humans to behave a certain way. He believe the id, the ego, and super ego is what cause people to compose themselves a certain way. He stated â€Å"religion is an illusion and it derives its strength from the fact that it falls in with our instinctual desires (Freud, 2013). What I found to be interesting is the fact Freud believed people refer to religion or beliefs simply to have an explanation for anxieties and tension that they not consciously want to believe in (Freud, 2013). As stated above, Freud’s believe were controversial. He believed humanity created God in their image as opposed to vice versa. In other words, religion or our beliefs are simply fictional. Freud fascination with the mind is due largely in part because he believed that theShow MoreRelatedSigmund Freud s Theory Of Personality, Cognitive Development, And Infancy1096 Wo rds   |  5 PagesSigmund Freud; 1856- 1939, an Austrian doctor was one of the pioneers in studying the nature of personality, cognitive development, and infancy, and also remarked how important the first years of the individual’s life are for future development of the mentioned characteristics (Coon Mitterer, 2012). According to John W. Satrock behavior; as part of the psychoanalitic theories, is merely a surface characteristic and a true and deep understanding of development is require to analize the symbolicRead MorePsychoanalytic Theory Of Sigmund Freud824 Words   |  4 PagesFoundation A Look into the Psychoanalytic Theory of Sigmund Freud David Haygood Talladega College Applied Psychology 202 7/7/2017 Abstract The psychoanalytic theory by Sigmund Freud has always been argued to be one of the most controversial theories in the school of psychology. Critics have questioned how relevant the perspective of Freud is due to the fact that it holds no scientific basis. Sigmund Freuds psychoanalytic theory of personality argues that human behavior is the result of theRead MoreThe Theory Of Psychoanalysis On The Unconscious Phases Of Personality Development1130 Words   |  5 Pagesunconscious phases of personality development. The main tenets of this theory are characterized into four subsections. Firstly, it states that early childhood experiences are important in life’s later development. Secondly, it declares that psychosexual stages are linked to major developmental needs and challenges. Thirdly, the theory of Psychoanalysis emphases put forth that, each phase can include conflicts. That how people experience and resolve conflicts determine their personality patterns later inRead Mo reSigmund Freud and Carl Jung1331 Words   |  6 PagesSigmund Freud and Carl Jung Sigmund Freud and Carl Jung begun their relationship in 1906, when Carl Jung sent Freud a copy of his signed published studies, But Jung did not know that Sigmund Freud actually already owned a copy (well-Documented). Jung looked up to Freud and saw him as a father figure (well-Documented). Freud became Jung’s Mentor. In 1909, Freud and Jung toured the United States, and this is were they had a few disagreement on the unconscious mind. Jung thought Freud was negativeRead MoreEssay on Freud V Erickson1371 Words   |  6 Pages Sigmund Freud is probably the most familiar name that comes to mind when one thinks of famous psychologists. Freud was born in Freiberg, Moravia in 1856, but when he was four years old his family moved to Vienna, where Freud was to live and work until the last year of his life. The scope of Freuds interests, and of his professional training, was very broad - he always considered himself first and foremost a scientist, endeavoring to extend the compass of human knowledge, and to this end, ratherRead MoreSigmund Freud s Theory Of Psychoanalysis1339 Words   |  6 PagesSigmund Freud Biographic Description of Sigmund Freud Sigmund Freud was born on May 6, 1856 in Freiberg (currently known as Czech Republic). Freud is best known as the founder of psychoanalysis, which entails a scientific analysis of unpacking unconscious conflicts based on free associations, fantasies, and dreams of the patient. He was among the greatest psychologists of the 20th century, and his legacy lasts up to now. While young (4 years old), his family relocated to Vienna where he lived andRead More The Three Elements of Personality by Sigmund Freud777 Words   |  4 Pages Introduction Of Sigmund Freud Sigmund Freud was one of the trailblazers of modern-day psychology. After several years of clinical practice, Sigmund Freud became concern about finding a new way to cure his patients. He developed a new way of treatment, the psychoanalytic therapy based on the existence of the unconscious. According to his theory, our behavior is driven by sexual and destructive feelings. Freud mentions in his psychoanalytical theory of personality there are five stages of psychosexualRead MoreSigmund Freud : Influences On Developmental Psychology1028 Words   |  5 Pages16 November 2014 Sigmund Freud: Influences in Developmental Psychology Sigmund Freud was one of the most influential psychologists in the history of the profession. He was influential in human psychological development and in the treatment of atypical mental conditions. In this paper Freud’s studies and contributions will be researched and shown how they influenced developmental psychology as we understand it today. Sigmund Freud was born in 1856 in Friedberg, Moravia. Freud considered himselfRead MoreSigmund Freud. Briana Gates. Mr. Wiles. Psyc 43101-01:1611 Words   |  7 Pages Sigmund Freud Briana Gates Mr. Wiles PSYC 43101-01: History and Systems of Psychology February 25, 2017 On May 6, 1856, a baby by the name of Sigmund Freud was born, in a what is now known as the Czech Republic (Schultz Schultz, 2012). After moving around a bit, Freud eventually settled in Vienna, and spent most his life there. It is without question that Sigmund Freud is a well-known name, and that he can be considered the father of what is known as psychoanalysis, seeing as how heRead MoreCarl Jung and Sigmund Freud1412 Words   |  6 PagesCarl Jung and Sigmund Freud Introduction Carl Jung (1875-1961) and Sigmund Freud (1856-1939) were two individuals whose theories on human personality would completely affect the way that people viewed the human mind. Carl Gustav was a practicing psychotherapist while Sigmund Freud created the discipline of psychoanalysis. The two men had seemingly identical beliefs about human behavior, but also had contrasting beliefs about concepts such as the ego, the psyche, and the state of unconsciousness

Beginning of Cold War free essay sample

Germany, Japan and Italy ) Lost their influence in world affairs ii) Germany and Japan were occupied by the Allied Powers. Iii) Italy became a democratic nation after the fall of Fascism in Asian and African Nations Got independence in the post-war period D. Eastern European States I) Set up Communist governments after the war ii) Became satellite States Of the Soviet Union E. The Soviet Union I) Became a superpower after the war ii) Controlled the Communist states in Eastern Europe F. The United States 1943. C. Ii) Took over Britains and Frances position in world affairs What was the Cold War about?It was a fight over different political and economic ideas. It was a clash between communism and capitalism. It was the result of growing suspicion between capitalist USA and communist Soviet Union. The fears of LISA and USSR Aquas fear: The Soviets would spread communism to the rest of Europe and Asia). We will write a custom essay sample on Beginning of Cold War or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Users fear: USA would attack them in order to destroy communism. Between 1 946 and 1991, these two sides did many things to oppose each other. The Capitalist Bloc The Communist Bloc The United States and Western democratic nations The Soviet Union and Communist States in Eastern EuropeUS-Soviet Rivalry in Eastern Europe The Soviet Union set up satellite states in Eastern Hungary Hungary Rumania Poland Czechoslovakia Bulgaria East Germany Military Opposition Formed two rival armed alliances: NATO (North Atlantic Treaty Organization) and the Warsaw Pact They threatened each other: especially in the nuclear arms race. They supported small wars between their allies: (e. G. Korean and Vietnam Wars). On April 4, 1949, twelve Atlantic nations formed the North Atlantic Treaty Organization (NATO). The United States Canada Norway Luxembourg Britain Portugal The Netherlands DenmarkBelgium Iceland Italy France In 1 955, eight Communist nations set up the Warsaw Treaty Organization (Warsaw Pact) with its headquarters in Moscow. The Soviet Union Albania Romania Political Opposition They were both members Of the Security Council Of the United Nations. However, they often opposed each other using their individual power of veto. Both the IIS and Soviet governments spread lies and half-truths about each other. Why was it a Cold War? There was no actual fighting between the USA and USSR during this period. All the two sides did was to make trouble for the other side.The danger was that any mistake could turn the cold war into a hot (nuclear) war! Methods of fighting used Use of propaganda (using mass media to spread rumors and half-truths about the other side) Building up of armaments (especially nuclear ones) Supporting wars between smaller countries (Korea and Vietnam Wars). Origins of Capitalism and Communism Capitalism Grew as a result of the 1 9th Century Industrial Revolution in Europe. It is a system in which private companies compete to sell goods and services. The aim is to make profits for the owners.The gap between rich owners and poor workers is always wide. Communism Came from ideas of Karl Marx. He believed that workers should overthrow capitalism. Industries should be state-owned and benefit everyone. State should provide free education, health care and welfare for all. A. Ideological differences Capitalist bloc Free economy free elections people own properties freely Communist bloc State owns all resources in the interests of society as a whole Result: Mistrust between the two blocs B. Economic Differences CAPITALIST Market economy Competition keeps prices down and quality upWide range of goods for sale COMMUNIST Planned economy Government controls both production and prices Poor choice, supply and quality of goods C. Social Differences Greater freedom: if people worked hard, they could improve their lives. Great inequality many differences between rich and poor. COMMUNIST Limited freedom Fairer society -? fewer differences between rich and poor State provides health care, education and welfare D. Differences in Government Multi-party or parliamentary system. Government holds public discussion before carrying out its decisions.People can change the government peacefully by voting in elections. COMMUNIST One-party system: only communist party is allowed. Strong government -? no opposition or debate is allowed! People cant change the government peacefully if they dont like its policies. Our World Today: Communist or Capitalist? Most countries follow a mixture of some capitalist and communist ideas. Communist countries (like China) have some private industries and markets. Capitalist countries (like the USA) have some government-controlled services and industries.

No Child Left Behind Law free essay sample

This paper is an analysis of the No Child Left Behind Act of 2001 (NCLB Act) that would provide all children with equal education opportunities, no matter what their economic situation. This paper examines the affects of the No Child Left Behind Law on the Elementary and Secondary Education Act that was originally passed in 1965. The paper defines the new law and then examines how it was supposed work. Some of the topics discussed include discussion of Title 1 with great detail about whether or not the law will be implemented as it was intended, paying close attention to the weaknesses in the legislation. The paper looks at individual states compliance, the question of funding in middle schools for extra reading programs and the challenge of getting the information out about the law and the schools rights under it. The author also points out it should assist in the improvement of the quality of educators and hold low-performing schools accountable and demand improvement. We will write a custom essay sample on No Child Left Behind Law or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The law will also mean big changes in testing policies for elementary and middle schools, changes in the state accountability systems and increased state and local government involvement in the education systems in order to monitor compliance with the new regulations for funding. While a determined band of educators, advocates, and their philanthropic clique have pushed hard over the past decade and a half to improve the achievement and development of young adolescents, federally funded programs have practically ignored these students. Title I funds touched them infrequently, focusing chiefly on elementary school grades. Vocational education funds were for high school students. Safe and Drug Free Schools, Gear Up, and fractions of other programs helped students in the middle grades a bit, but no federal money supported their core academic learning.