A protein can fold into three different conformations.

A) If the states are iso-energetic, and the system has 1 mole of protein equally mixed between the three states, what is the entropy change of forcing it all into a single confirmation on a per mole basis? (This might occur for example during the process of crystallization.)

B) Instead imagine that states B and C have a +1 kbT and +2 kbT energy increase compared to state A, respectively. What is the probability of finding the protein in each of the states?

C) For the system in part (B), now what’s the entropy change of forcing the equilibrium mixture all to state A?

A single period model has a bank account with interest rate r = 1/9, three states of the world, and two risky assets S1 and S2. The initial prices of S1 and S2 are 63 and 36, respectively. At time 1 the price of S1 is 80, 73, and 60 in states 1, 2, and 3, respectively. At time 1 the price of S2 is 50, 35, and 30 in states 1, 2, and 3, respectively. The three states are equally likely under the statistical probability. Are there any arbitrage opportunities? If so, specify them. If not, then specify all the risk neutral probability measures.

Explain completely. Make sure and post the question along with the answer.
 

The three states the economy can be in; Recessionary Gap, Inflationary Gap and LongRun Equilibrium.

 How each of these states are depicted graphically.

 How these three states are represented in the new PPF developed in this chapter. 

At each of the three states, explain what is going on in the labor market.  

I am asking you each to post one YouTube video on the section I am assigning you.  Look for a good video, watch the entire video and then write two ways specifically it illustrated a concept in your assigned section of the Key Concepts.

According to constructivism, which of the followings are correct? Please select all that apply.   

Group of answer choices

A. Personalities of the world leaders are the main factor shaping global politics.

B. As states interact, they together create collectively held ideas, beliefs and norms.

C. States attach meanings to the material world and these meanings are shaped/constructed by the collectively held ideas, beliefs and norms in the system.

D. States have constant relations among each other and they interact as members of a community, therefore they behave according to the logic of appropriateness in a given context.

E. Anarchy is what states make of it.

1.       Which statement(s) is (are) correct?

a.       The planning horizon for any business is between three and five years.

b.      Forecasts that extend beyond the planning horizon are less credible.

c.       The planning horizon should be the furthest point in the future considered by the business plan.

d.      The planning horizon for a hotel owner is determined by the length of the management contract.

2.       What statement would a hotel owner prefer to see in the business plan for a hotel destination spa, if he or she wants to evaluate whether the GM has the support of the management team?

a.       I have decided that we need to invest more money in the spa.

b.      These financial objectives for the spa are in line with those revealed to me privately by our closest competitors.

c.       The spa manager and head of rooms division have presented the following alternative scenarios for the development of the spa business following our recent brainstorming session.

d.      The future success of the spa business is probably not assured but it is not considered something we can do much about.

3.   What are the two missing items in this list of planning components for a hotel owning company? Historical data, Forecasting, Strategy , Management

a.       Statement of Source and Application of Funds

b.      Profit and Loss Account

c.       Benchmarking

d.      Experience

4.   What is the group of words missing from this statement about organizational planning?

One category of organizational planning is to ______ what may happen in the future, by using known facts, _______ and _________ to generate a ________ of future performance.

a.      Guess, Relationships, Assumptions, Forecast

b.      Predict, Relationships, Assumptions, Budget

c.       Predict, Relationships, Facts, Forecast

d.      Predict, Relationships, Assumptions, Forecast

5.   What is the group of words missing from this statement about organizational planning?

Another category of organizational planning is to ________ established theories on how the business ________, by looking at generally accepted _____ or current relationships between business processes and the ________ generated.

a.       Challenge, Operates, Past, Outcomes

b.      Disprove, Operates, Past, Outcomes

c.       Challenge, Operates, Past, Profits

d.      Challenge, Manages, Future, Outcomes

6.   What is the group of words missing from this statement about organizational planning?

A third category of organizational planning is to ________ and ______ a ______ business model. This type of planning allows ___________ to assess changes to the way the business operates.

a.       Broken, Innovate, Management, Repair

b.      Innovate, Renew, Established, Management

c.       Innovate, Grow, Established, Human Resources

d.     Maintain, Reinforce, Established, Management

7.   Which of these statements is unsuitable for inclusion in a business plan?

a.       We will make sure that we do things as well as the competition does in order to maintain our position in the market.

b.      We will focus our planning efforts on business process and not on the outcome.

c.       Too much emphasis on the outcome may cause short-term decision-making and the risk that strategy will be forgotten.

d.      The planning process must aim to make the business better than the competition.

8.   In order to establish a business planning strategy that can be aligned with budgets, managers need to (select the 4 statements that apply from the list below):

a.       Communicate how these actions relate to individual departments.

b.      Write a vision and mission statement

c.       Ensure that adequate resources are available.

d.      Get approval of the annual budget from shareholders

e.      Choose a course of action to meet these goals for a given business environment.

f.        Set realistic goals.

Using the 2009 Budget (Money is given in Canadian dollars), prepare a break even analysis to find:

1. At what trip fee does JUDES break even on the trips?

2. At what participant level does JUDES break even on the trips?

Please show all formulas and calculations so I can follow along and learn how to apply the concepts for the future.

You have an opportunity to purchase the 23 site Plum Creek manufactured home/RV park for $250,000. The park caters to extended stay residents (six months or longer) and charges a market rental rate of $240 per site per month. You expect to be able to raise site rentals 3% per year to account for inflation. There are no tenant reimbursements or passthroughs. You plan a five year holding period so you create a six year proforma. The owner reports an annual vacancy rate of 10% but you believe an annual 15% vacancy rate every year of the holding period is a more realistic estimate. You use 15%. For expense estimates, you rely on public records (tax office), an income/expense statement provided by the owner/seller, and Darrell Hess & Associates, a national manufactured home park brokerage company that compiles expense data from hundreds of parks nationwide. The previous year’s property taxes were $5,042. The new assessment and tax rate has not been set, so the previous year’s taxes are used in your pro-forma for the first year. Hazard and liability insurance is estimated to be 2% of effective gross income (EGI) in first year. Each site is individually metered for electricity and the tenants are responsible for their usage. The park owner reported annual water and trash removal expenses of $5,460 for the previous year, and this amount appears reasonable for your first year projection. The annual administrative/management expense (part time on-site manager, advertising, legal fees, accounting fees and office expenses, etc.) is estimated to be 29% of EGI by Darrell Hess & Assoc. The owner did not report any maintenance expense as he did all of the work himself. You believe a $2,000 first year expense is reasonable for the road maintenance, landscape maintenance, etc. You expect expenses to increase 3% each year of the five year holding period except insurance and management expenses tied to EGI. Page 7 of 7 You have obtained a loan commitment from a bank for 80% (20% down payment aka equity contribution) of the purchase price with a 20 year amortization at 6% interest. 1) Create a six year Pro-forma statement of cash flows on an Excel spreadsheet. 2) Calculate the following ratios and indicators (all before tax) by Excel formulas at the bottom of the spreadsheet to three decimals: A) Operating expense ratio (annual operating expense/EGI); according to Darrell Hess & Associates, operators can expect a 50% operating expense ratio. B) All Five Years of Debt Coverage Ratio (NOI/debt service); 1.3 or greater is considered good by the lender. C) All Five Years Return on Equity (BTCF/equity invested); investor surveys indicate 13% or better is expected for each year. D) Using the IRV formula, calculate the indicated overall rate (cap rate) RO for Year One to see if it is within the 9-11% range for manufactured home parks indicated by a national investor survey. Use the $250,000 asking price as the value in IRV for the calculation. E) Calculate the value of the subject after the five year holding period (the reversion) using a 10.5% terminal RO. Remember to carry the pro-forma to a sixth year to obtain Year Six NOI. F) Calculate the unleveraged IRR of the cash flows using the $250,000 asking price. G) Calculate the NPV of the property using a 12% IRR

SWOT Analysis

            Marriott International Inc. is a leading firm in its industry. It is known for aiming to maintain its dominance in its position in the market. A SWOT analysis of Marriott shows the following;  

Strength

Marriott has a track record that shows it has never failed in integrating complementary firms. It has always been successful to do all this through mergers and acquisition. It has done all this to ensure its operation are smooth and with less completion. Marriott is innovative and has hotels all over the world. They are innovative because they recently launched a mobile app. You can see advertisements about it on Facebook or other social media platforms. (Marriott corporate.2017). You no longer must use a key to get into your room. You just unlock it with your phone now. Not just that but you can do a mobile check-in and skip the front desk. Also, Marriott has its presence and reputation all over the world which makes them well-known in quality business.

Weakness

            Marriott Inc. is well known for its desire need to expand. The business has expanded so much to the extent of failing to monitor and maintain the quality of their services throughout. I know this first hand all their hotels are not the same. Some may mention the fact that the Marriott is a family company and how this creates room for error. And it could. Understanding that family tradition and family opinions can offend others or promote an atmosphere that feels "stuck" can put a roadblock up for those future investors. (Marriott corporate.2017). Another weakness is even though they are expanding to many other countries, this could also lead to over population of the hotels and not further along other local companies or promote more of a diversity in the market.

Opportunity

            The opportunities Marriott has been modernizing their hotels rooms to fit the trending market and more profitable emergence into new marketable areas. (Marriott International Inc.2017) For the interior design point, there is room to create more of a unique home familiar style within the walls of its rooms. This allows for a better experience for the loyal customer and to the old customer who thought they may have not liked the hotel franchise. The other opportunity of emerging into new markets creates a profitable growth for the company to expand their presence into new categories such as the technology market. Bringing in the google home or amazon Alexa experience or personalize the delights that customer have in their everyday home and bringing it into the hotel room will only further the experience. (Marriott International Inc. 2017)

Threat

            Vulnerability to terror attacks- the travel industry is one that is highly targeted by terrorists. Especially 5 star rated properties. If it were to get attacked, the firm would lose its trust in their esteem clients. Threats to Marriott include more competition to enter the existing hotel industry and price freezing. As more and more innovative companies make a break through, there is more attraction to them and the idea to try something new in the customer's perspective, leaving Marriott to fend for themselves in the fight of hotel rooms. Also, as the market expands, the prices of other companies can tend to look better, especially if they offer the same amenities and rewards.

​​​​​​​

• Identify the most important or critical items on your SWOT Matrix that you believe warrant immediate attention to improve strategic management. Select one from each of the four categories.
• Be sure you justify your decisions.

Case Study: 10 Keys to Small Business Innovation

Creativity expert Teresa Amabile identifies three components of creativity: (1) Expertise. One must have the technical, procedural, and conceptual knowledge to generate potential solutions to a problem. (2) Creative thinking skills. A person must possess the willingness to take risks and to see problems or situations from different perspectives (3) Motivation. One must have an internal desire to develop creative solutions. This motivation often comes from the challenge that the work itself presents. Entrepreneurs and their employees can transform their companies into engines of innovation by combining these three components of creativity with what management consultant The Doblin Group calls the 10 types of innovation.

i. Business model. How does your company make money? These are innovations in the value proposition that a company provides its target customers and in the way it delivers value to its customers.

ii. Networks and alliances. Can you join forces with another company or entity for mutual benefit? A company may forge a synergistic relationship with another organization in which each company’s strengths complement the other.

iii. Organizational structure. How do you support and encourage your employees’ creative efforts? The most effective organizations use an appropriate structure and culture to align their talent to spark innovation.

iv. Core process. How does your company create and add value for customers? These innovations in a company’s internal processes result in superior business systems and work methods that result in benefits for customers.

v. Product or service performance. What are the most important features and functions of your company’s products or services? Innovations in functions and features can give a company’s product or service a significant edge over those of competitors.

vi. Product system. Can you link multiple products into a system or a platform? Bundling products can add value to customers.

vii. Service. How do you provide value-added service beyond your company’s products for customers? Some of the most successful businesses set themselves apart from their competition by providing unparalleled customer service.

viii. Channel. How do you get your products or services into customers’ hands? Some companies provide extra value to their customers by making their products and services available in many venues.

ix. Brand. What is your company’s “identity” in the marketplace? Successful companies use creative advertising, promotion, and marketing techniques to build a desirable brand identity with customers.

x. Customer experience. Does your company engage customers and give them reasons to come back to make future purchases? Innovative companies find ways to connect with their customers, creating a loyal base of “fansumers,” customers who not only purchase but act like fans who promote the company to their friends and family members.

Boatbound

Serial entrepreneur Aaron Hall took note of the “sharing economy” that emerged during the last recession and launched Boatbound, a peer-to-peer boat rental company that brings together boat owners who are willing to rent their boats when they are not in use and people who want a fun boating experience without the cost of owning a boat. Hall realized that 12.2 million boats are registered in the United States, yet the average owner uses his or her boat just 26 days per year. Boatbound screens all potential renters, verifies the condition and the safety of each boat, carries ample insurance on each boat, and covers general liability. Boat owners select their renters from Boatbound’s pool of applicants and set daily rental fees, and Boatbound collects 35 percent of the fee. Boatbound has rented every kind of boat, from kayaks to yachts with captains. Fees range from $200 to $8,500 per day. “As a boat owner and someone in the marine industry, I’ve been waiting for something like this my whole life,” says Aabad Melwani, owner of a marina. “I just didn’t know it.”

Henrybuilt

Scott Hudson, CEO of Henrybuilt, had created a profitable niche designing and building upscale kitchens that ranged from $30,000 to $100,000. In 2006, Hudson opened a New York City showroom, which doubled in size in just 18 months. By 2008, the company had more than 200 jobs in the United States, Mexico, and Canada. When the recession hit, however, new projects came to a standstill, and customers began cancelling orders. In response, Hudson launched a subsidiary, Viola Park Corporation, that provides customers lower-cost remodeling options that use its software rather than an architect to create “custom” variations on Henrybuilt designs. The result is a process that produces a kitchen much faster and at half the cost of a Henrybuilt kitchen. Henrybuilt sales have recovered, but Viola Park accounts for 20 percent of sales and is growing twice as fast as Henrybuilt. Unequal Technologies Robert Vito started Unequal Technologies in 2008 to supply protective clothing and gear, including bullet-proof vests, to military contractors. The protective gear is made from a lightweight yet strong composite material that he developed and patented. Two years later, the equipment manager of the Philadelphia Eagles called to ask whether Unequal Technologies could create a special garment for one of its star players who had suffered a sternum injury. Vito modified the bullet-proof vest for the player and soon had other players in the National Football League asking for protective gear. Unequal technologies went on to develop Concussion Reduction Technology (CRT), peel-and-stick pads for football helmets that are made from before it reaches the skull. Independent tests show that CRT reduces the risk of head injuries from impact by 53 percent. The company now supplies equipment to 27 of the NFL’s 32 teams and has its sights set on an even larger market: amateur sports. Vito says Unequal’s technology gives the company a competitive edge that has allowed it to increase sales from $1 million to $20 million in just one year.

(Source: Scarborough and Cornwall, 2016)

Required:

1. Drawing on the ten types of innovation and how Boatbound and Henrybuilt as small businesses applied the various types of innovation, develop an idea for a small business that will operate based on at least five (5) of the ten types of innovation illustrated in the case.