Stevensons Use of Literary Techniques in The Strange Case of Dr. Jekyl

Stevenson's Use of Literary Techniques in The Strange Case of Dr. Jekyll and Mr. Hyde In his novella "Dr Jekyll and Mr Hyde", Robert Louis Stevenson explores the dual nature of Victorian man, and his link with an age of hypocrisy. Whilst writing the story he obviously wanted to show the people of the time what happened behind closed doors. In Jekyll's suicide note he makes the following observation " I have observed that when I wore the semblance of Edward Hyde, none could come near to me at first without a visible misgiving of the flesh. This, as I take it, was because all human beings, as we meet them, are commingled out of good and evil: and Edward Hyde, alone in the ranks of mankind, was pure evil." I believe that the underlying moral of this novella is that we are all comprised of good and evil, and that we should possess the ability to control and acknowledge the darker side of ourselves. Dr Jekyll is described as "a large, well made, smooth-faced man of fifty, with something of a slyish cast perhaps, but every mark of capacity and kindness". However, when angered "The large handsome face of Dr Jekyll grew pale to the very lips, and there came a blackness about his eyes". He is a very strong-minded man, as he argues about his will with Mr Utterson, however he does become addicted to Hyde, and too weak to oppose him. Mr Utterson after meeting Hyde for the first time, starts to feel sorry for his friend, however he does suggest that Jekyll has a dark past "was wild when he was young; a long while ago to be sure". Mr Hyde is presented as a very dark and sinister character. Hyde " was small and very plainly dressed, and the look of him, even at a distance, went somehow against the watcher's incli... ...l's mind to kill them both. By Jekyll killing, himself he sets both him, and Hyde free, although it is Hyde who is found when the cabinet door is forced open. This is because when Jekyll dies, he is emotionally and physically venerable, and Hyde shines through. So theoretically, it is Mr Hyde continues to exist temporarily when Dr Jekyll is gone. Therefore, I conclude that Stevenson explores the duality, which lies within man very well and aptly describes this phenomena in Jekyll's suicide note when he writes, " all human beings, as we meet them, are commingled out of good and evil". However, I feel that he has not truly exploited the capabilities that could have been developed when sculpting Hyde's character. Jekyll's original experiment was to try to create a purely good man, however, he just ends up destroying his experiment and eventually himself.

Merton Truck Co

Case Analysis: Merton Truck Company Linear programming techniques can be used to not only determine the best production mix, but also to provide clues and data suggesting ways to improve profits. In 1988, Merton Truck Company was searching for ways to increase profits and ultimately its poor financial performance. Options being considered included changing their product mix by either removing or adding a product line, or renting capacity. In the following pages, the product mix and capacity options considered by Merton are evaluated, other factors and alternatives are discussed, and final recommendations are provided. Product Mix Based on the financials in 1988, Merton’s president suspected that discontinuing their Model 101 would result in stronger financial performance. With unit costs of $40,205 (including fixed overhead) and a sales price of $39,000, each sale of Model 101 resulted in a $1,205 loss. However, the president did not consider that fixed overhead (OH) was being allocated across all units, and the discontinuation of Model 101 would increase the overhead applied to Model 102. In reality, the $8. M in monthly fixed overhead exists regardless of the product mix and does not need to be allocated on a per unit basis to determine overall profit or financial performance. Therefore, fixed overhead was not considered until the end of each evaluation. In order to evaluate any alternative, we need to compare to current profit. Utilizing the data from Tables B and C to obtain production costs per unit as well as fixed overhead, Merton is currently making a profit of $1. 9M (Exhibit 1A). Since it was the specific request of the president, the impact of discontinuing Model 101 was evaluated. The first step was to determine the capacity of producing only Model 102, which is as follows based on Table A: Engine Assembly4,000 hours / 2 hours per unit = 2,000 units Metal Stamping6,000 hours / 2 hours per unit = 3,000 units Model 102 Assembly4,500 hours / 3 hours per unit = 1,500 units The resulting capacity of 1,500 units is the same as the current production level, so it was suspected immediately that discontinuing Model 101 would likely have a negative result. Without an increase in sales, discontinuing Model 101 would only result in increasing the fixed costs for Model 102 without increasing the revenue. As seen in Exhibit 1B, this would indeed result in a $1. 1M monthly loss for Merton. This is a phenomenon known as the death spiral, when the discontinuation of a seemingly unprofitable product causes otherwise profitable products to become unprofitable. Merton should continue to use that extra capacity to produce Model 101 to generate additional revenue and help absorb costs. The impact of making only Model 101was evaluated by determining the capacity using Table A: Engine Assembly4,000 hours / 1 hour per unit = 4,000 units Metal Stamping6,000 hours / 2 hours per unit = 3,000 units Model 101 Assembly5,000 hours / 2 hours per unit = 2,500 units As shown in Exhibit 1C, producing 2,500 units of Model 101 results in a $1. 1M loss. However, since the bottleneck is the Model 101 Assembly, additional capacity remains to produce Model 102 units: Engine Assembly1,500 hours remaining / 2 hours per unit = 750 units Metal Stamping1,000 hours remaining / 2 hours per unit = 500 units Model 102 Assembly4,500 hours / 3 hours per unit = 1,500 units Exhibit 1D shows that producing 500 units of Model 102 results in a $1. 4M profit; however, Merton is still better off in its current situation. In the current analysis, it is assumed that Model 102 Assembly cannot be used for Model 101, a logical assumptionsince Merton specifies the department where Model 103 will be made. However, if Model 102 Assembly can be used for Model 101, the bottleneck then becomes Metal Stamping at 3,000 units x $3,000 CM = $9. 0M – $8. 6M = $0. 4M profit. In a similar fashion, the ability to use Model 101 Assembly for Model 102 would also drastically change the impact of discontinuing Model 101. The bottleneck for producing only Model 102 would then become Engine Assembly at 2,000 units x $5,000 CM = $10. 0M – $8. 6M = $1. M profit. So far an improved product mix has not been identified, so linear programming was used to identify the production mix that would maximize profits using the following objective function: To maximize c1x1 +c2x2 Where: x1 = Number of Model 101 trucks to produce x2 = Number of Model 102 trucks to produce c1 = Contribution margin of Model 101 (excluding fixed costs) c2 = Contribution margin of Model 102 (excluding fixed costs) The contribution margins (CMs) were calculated in Exhibit 1 as: c1 = $3,000 c2 = $5,000 Subject to Constraints: Engine Assemblyx1 + 2Ãâ€"2 ? 4000 Metal Stamping2x1 + 2Ãâ€"2 ? 000 Model 101 Assembly2x1 ? 5000 Model 102 Assembly3x2 ? 4500 Negativityx1,x2 ? 0 Each constraint was graphed as a line by setting each variable to zero, and then determining which side of the line satisfied the equation by plugging in points (such as the origin). Once the relevant range of all the constraints was determined, the extreme points were clearly identified. The extreme points corresponding to the non-negativity, Model 102 Assembly, and Model 101 Assembly constraints were easy to identify, and the rest was determined by simultaneously solving the equations of intersecting lines. Exhibit 2 shows the graph, including the values in USD obtained when the extreme points are plugged into the equation. Many of the values were in accordance with expectations as they corresponded to the earlier analyses. The optimal product mix was identified as 2000 units of Model 101 and 1000 units of Model 102, which would generate $11. 0M – $8. 6M fixed costs = $2. 4M profit. The same result was obtained when the analysis was done in Excel Solver (see attached Exhibit 3, Model 101 & 102 Solver Results). The binding constraints seen in Exhibit 4 are no longer the Model Assemblies s seen with earlier combinations, but are now the Engine Assembly and Metal Stamping departments. The optimal product mix for Merton given their current product mix and constraints has been determined, but Merton is also considering the addition of a new Model 103. The values for contribution margin (CM) are given as well as the portion of departmental capacity required to produce 103. Based on the capacity information, it was determined that Model 103 would require 0. 8 hours of Engine Assembly, 1. 5 hours of Metal Stamping, and 1 hour of Model 101 Assembly per truck. The constraints and objective function were modified with these new values and run in Excel’s Solver, which determined that Model 103 should not be produced (Exhibit 5). Exhibit 6 provides a sensitivity report indicating a reduced cost of -$350, meaning that the CM of Model 103 would need to increase by $350 before it would make sense for Merton to begin producing Model 103. Capacity Options Given the capacity limitations seen thus far, it is a fair conclusion that increasing capacity may present an opportunity. In the optimal solution, there are limitations in both Engine Assembly and Metal Stamping. If one or both of these was increased, this could have a strong positive impact on profit. By referring to the sensitivity report for the optimal solution found in Exhibit 7, we see that Engine Assembly and Metal Stamping have shadow prices of $2,000 and $500 respectively, which means that an increase in one unit of capacity would result in the corresponding increase in profit. If Merton can rent capacity for less than the shadow price for either department, it should. Note that for each, this is only true for 500 units before the scenario would require reevaluation (see the allowable increase in Exhibit 7). Also, only one variable or department can be increased. If both are modified, the shadow prices may no longer hold true. Merton also has the option of increasing engine capacity by 2,000 hours using overtime. This would also result in a 50% increase in direct labor or: Model 101$4,000 current from Table B x 1. 5 = $6,000 (reducing CM by $2,000) Model 102$4,500 current from Table B x 1. 5 = $6,750 (reducing CM by $2,250) In the overtime tab (Exhibit 8), we add two additional variables epresentative of overtime production o1 and o2, including an additional constraint representing the maximum of 2000 hours. As seen in Exhibit 8, Solver has determined that overtime should be utilized to produce 250 additional units of Model 102. However, fixed OH has not been included in the calculations until afterwards as it does not impact the optimal solution, only the net profit. In this case however, the fixed overhead increases by $0. 75M to $9. 35M if overtime is utilized. Therefore, the $9. 35M is subtracted from this result and compared to our previous optimal solution net profit of $2. M. This was done in Exhibit 8, resulting in a net profit of less than $2. 4M. Therefore, Merton should not assemble engines on overtime under these conditions. Other Factors, Alternatives and Considerations Merton’s president would like to impose a marketing mix constraint requiring Merton to produce at least three times as many units of Model 101 as units of Model 102. By adding this constraint to the analysis in Exhibit 9, the marketing mix moves to producing 2,250 units of Model 101 and 750 units Model 102, and a net profit of $1. M . The marketing constraint hinders the potential total net profit by $500,000 because at optimal production levels, Merton will be able to produce a total net profit of $2. 4M. There are several other options th at Merton did not consider. Renting capacity from an outside supplier was one alternative, but a similar option would be to simply outsource (at a rate less than the shadow prices discussed earlier). It is also mentioned that at present, demand is great enough that the company is selling everything it produces. How much greater than supply is the demand? If it is much greater, Merton should consider raising its prices to reduce demand. If demand is expected to continue, Merton should also evaluate the ROI of investing in capital and permanently increasing capacity as an alternative to renting or outsourcing capacity. Merton should also consider the impact that learning curves and technology may have on their production process. As the Model 101 and 102 life cycle continues, the company should see a reduction in time and costs associated ith every aspect of the truck manufacturing process as a result of learning curves. It can be reasonably estimated that labor hours per vehicle will be reduced due to learning curves (which result from staff experience and familiarity with the production process), and that Merton will therefore be able to increase the total volume of vehicles produced. Technology could also play an important role in reducing the time and costs needed to produce the vehicles, so it is important that Merton maintain a watchful eye on new production methods and machinery. Investments in technologies can reduce the firm's fixed overhead costs and increase profits and improve productivity. In addition, technologies can help reduce the costs of designing, developing, and manufacturing a product which can help the firm to improve product quality and to charge a higher price. Conclusion Merton’s president was absolutely correct in his supposition that the company could improve its financial performance by changing their product mix, though wrong in his initial thoughts on which actions to take. The value of linear programming techniques in evaluating possible solutions is clear, particularly in that it quickly provides clues of other options to consider (such as adding additional Engine Assembly Capacity). Based on the information provided here, further recommendations for Merton would be to (1) immediately change the production mix to 2000 Model 101s and 1000 Model 102s, (2) evaluate anticipated demand and the impact of a capital investment to increase capacity, and (3) seek quotes for capacity rental or outsourcing Engine Assembly.

The Practice Of African American Slavery As We Are Familiar

The practice of African American slavery as we are familiar with today, began with a Portuguese expedition. Portugal was a small and poor country, so Prince Henry and other leaders wanted to acquire wealth and compete with Arab traders who traded these slaves to North Africa and Europe, so they began to send ships to Africa in order to capture and enslave people. Religion played a big role in promoting and justifying taking Africans as slaves. In the fifteenth century, many medieval European societies started to believe it improper for Christians to enslave other Christians. Because Africans were black and therefore not Christians, they became the prime target for enslavement. It was also believed that God was helping sailors to†¦show more content†¦Gradually, over the seventeenth century, laws were passed to institutionalize the practice, usually by articulating divisions between blacks and whites. By keeping the two racial groups socially apart, lawmakers were able t o firmly put slavery into place. In 1640, Virginia gave everyone the right to bear arms except â€Å"negroes†, as it was too risky to arm slaves (Williams, 26). The same year, the court in Virginia outlined the ways in which black people were to be treated. In one example, where three indentured servants escaped together from their master, two of which who were white (Victor and Gregory) and the other black (Punch), Punch received a much harsher punishment of being locked into servitude while Victor and Gregory were only given four extra years of service. The court made it clear that this harsher sentence was given to Punch simply because he was black (Williams, 27). Later in 1662, Virginia passed a law making slavery hereditary and declaring that the status passed through the mother (Williams, 28). 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Sport Active Leisure Unit 10 - 756 Words

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How Sustainable Development Urban Areas Is Wicked Problems...

This essay will analyse and examine how sustainable development in urban areas generates wicked problems for modern share economy businesses such as Uber and Airbnb. A wicked problem is defined as a social or cultural problem that is difficult or impossible to overcome. Some of these problems are encountered by businesses, Uber and Airbnb which are effected by complex economic, legal, political and social factors. The share economy is known as a socio-economic ecosystem built around the sharing of human and physical resources (Matofska, 2014), they are also often referred to as peer-to-peer (P2P) networks where consumers are able to connect with sellers/providers to cater to the needs and wants of both parties. Businesses in the share economy, including Uber and Airbnb can create sustainability in urban areas by giving people the opportunity to communicate more efficiently through P2P networks and by providing cheaper and more personalised experiences for customers, Uber drivers and Airbnb landlords. Although the large growth of share economy businesses within the urban space can be beneficial by providing new opportunities for a range of stakeholders, there are several challenges and complexities including the ones faced by regulatory authorities. Stakeholders are essential to any business and often include the business owners/investors, consumers, employees, the community and the government. In an urban environment, these stakeholders associated with share economy

Assessment and Treatment Exercise Free Essays

Jesminder â€Å"Jess† Kaur Bhamra presents today with difficulties she is having at home. She comes from a very traditional and strict Indian family where gender roles are clearly defined. Women are expected to learn to cook and care for their husbands, who are, of course, expected to be the sole breadwinners. We will write a custom essay sample on Assessment and Treatment Exercise or any similar topic only for you Order Now She states that she loves and respects her parents as well as their traditions but feels such traditions are antiquated. She has decided to seek counseling because of her recent encounter with her mother. Jess does not wish to take on the traditional role of young Indian women, who marry young and desire a husband. She is very assertive and wants to break out of the mold, being something different than what is expected. I evaluate this as a typical adolescent issue, a growing pain, if you will that is being trivialized by her parents. Jess is at a crossroads. It is normal to desire to please one’s parents and Jess needs to evaluate her motives for doing what she wants for herself and what her parents’ desires. Client Motivation Jess sees herself as a female version of her hero, David Beckham, competing in soccer rather than cooking for an acceptable Indian man as tradition dictates. She has posters of him plastered all over her bedroom. She watches him so intensely on television that she is not even always aware that her parents are calling her. She plays every chance she gets with her male counterparts in the park. She even keeps up a rouse of a summer job to secretly participate on an all girl team. She is also made aware by her teammates and coach that there is a real possibility that her dream of playing professionally may be realized Client Resources (strengths) Jess exercises and practices frequently. Her coach and peers encourage her and let her know how good of a player she is. The guys that she plays with at the park come to her games to cheer her on. Jess is highly disciplined. She takes her training seriously and has a very loving and supporting family. She states that her mother always wants the best for she and her sister and that she is always concerned with their well-being. Jess can talk to her father about anything that is going on in her life and most of the time, he is very understanding. She and her sister have a close bond. Her relationship with her sister, Pinky, is one of the things that enables her to continue on. Pinky covers for Jess so that she can continue to play soccer. She encourages her to do her best and not to worry about other people’s thoughts about what she is doing. Jess also mentions Jules, a teammate who is going through a similar situation with her own family and has been able to relate to her struggles. They are a tower of strength to each other. In addition to sheer determination, these are things that keep Jess focused on her goals. Interpersonal functioning Jess’s peers share her interests. She has a few peers that are ‘boy crazy’ but she does not really hang out with them. Jess has slowly begun to detach herself from them because they cannot understand why she would rather get sweaty and dirty than go shopping with them. She also has an understanding coach, Joe. Joe has helped her break out of her shell by allowing her to accept herself. She was very afraid to play in short pans because of the burns she encountered as a child. Joe showed her his scar and she is no longer afraid to play in short pants. This new level of acceptance has propelled her into a greater realm of possibilities. No one on her team comments about it. One of her peers from the park made a comment but she was very resilient to it and it has not been an issue since. She has made a healthy adjustment to her circumstances and not let a deformity discourage or predict her future. Intrapersonal function According to Jess, going against her mother’s wishes is like rejecting her own culture. The reason that she feels this way is because she believes that she has nothing in common with the majority of her peers, especially those within her culture. Her priorities clash with her mother’s expectations. Jess believes her mother wants her to be more feminine like her sister and that her mother values matrimony over independence. Even though she has now surrounded herself with people that are interested in the same things she is, she can not help but feel alone. As much as her friends want to be there for her they do not understand why she can not just tell her mother what she really wants to do and her peers have a hard time letting her deal with the situation. They do not understand her traditions. Even though her sister has always been there for her, Pinky is more traditional. Jess is the only female in her immediate cultural surroundings that has an unusual aspiration and she is trying to assess her feelings. She needs to determine if she is doing the right thing. Without any female role models in her culture to model, it is an even more difficult feat. As much as she wants to follow her dreams and make soccer her profession, she is also feeling torn inside. Ethic/Culture/Gender considerations In Indian culture one of the most important things there is, is marriage and family. It is unthinkable for a daughter to go against her parents’ wishes and most importantly playing such a masculine sport like soccer. According to Jess girls are supposed to put a great emphasis on learning how to be a good homemaker and making their husband happy and then they can think about such things as education and other interests they may have. In Indian society an arranged marriage is seen as an act of love. Since marriage in their culture is one of the most important decisions a person will ever make and because divorce is not accepted among most Indians, it is important that the marriage choice is carefully thought out and planned. The family, usually the parents, look for certain traits in a marriage partner. Some desirable traits looked for in both male and female are things like matching levels of education, matching cultures, close parental cities and matching religions. There are however times when a â€Å"love match† happens as it was in the case of Pinky and her fiance. A love match is much like an American marriage, where the two fall in love. However, in Jess’s case her interest in soccer was not going to be accepted that easily. Her situation went beyond what any elder in her family would ever understand. For them, seeing Jess run around in a pair of shorts playing a game that is considered a â€Å"men† sport would bring much disgrace to their whole family. Her culture does not accept any form of homosexuality. She almost destroyed her sister’s chances of getting married because the fiance’s family thought they saw her kissing a girl. She and Jules were joking around on a bus stop and it was misinterpreted by Pinky’s future in-laws. It brought temporary shame to her family. Her culture is very keen on respecting parents and obeying their wishes. This is why the secret that she keeps is causing her so much turmoil. Her family is deeply religious and she has to participate in various rituals that interfere with her ability to play soccer. Developmental considerations If Jess were to be a â€Å"regular† girl growing up in the United States the problem that she is going through might not be such a big deal with any other family. There are some families who would love to have a well-rounded teen-ager who is staying out of trouble and has not given into peer pressure to follow any trends. For a 17 year-old Jess is very mature and is able to analyze the consequences that her actions might bring. She is mature enough to understand that she is caught between what she wants and what her parents want for her and was able to seek out the help that she needs in order to address her problem. Inferences and Judgments Jess is a wonderful young lady. She is very grounded and disciplined. She has great friends. One of the young men she pals around with even offered to marry her so that she can pursue her dream. She was offered a scholarship to play soccer and she does not know how to inform her parents about it. Given her history and her internal conflict, I am confident that Jess will make the right decision and right choices for her family and her future. Summary Practitioner’s impressions, including the initial problem targeted for treatment When I first met with Jess I believed her to be a well-rounded person that really knew what she wanted. She has a lot of things going in her favor such as having a strong support system that she can count on and having a strong sense of self when it comes to what she wants out of life. She is lacking the confidence and courage to confront her mother and let her know what she wants out of life. Identification of goals Some of the goals we have set during our sessions involve ways of solving her dilemma with her family. Her father has become aware of her situation and she was allowed to play in the tournament. She has made immense progress by allowing one of her parents to become her ally. She needs to build and strengthen her relationship with her mother and allow her mother to come to terms with her decisions. She also needs to stand firm on her beliefs. Jess must learn to combine her interests and goals for the future with her cultural influence. She also needs to learn to be more constructive in her way of handling others’ opinions of her culture. She had become very upset on the field when a young lady called her a Paki. She began fighting with her. She and Joe have developed feelings for each other. She must work getting her parents to accept this because he is not of her culture. Overall, she has made tremendous progress and at this point, she seems sufficient enough to execute these goals without further intervention. How to cite Assessment and Treatment Exercise, Papers

Capital Management Components On Corporate â€Myassignmenthelp.Com

Question: Discuss About The Capital Management Components On Corporate? Answer: Introducation In the market economy, one of the important factors of economic growth is capital accumulation and investment of capital. One of the crucial conditions for any business entity to ascertain viability, profitability and development of its own is the effectiveness of the invested capital. Based on the long-term goals the firms have, they incorporate the decision of financing and investing (Daunfeldt and Hartwig 2014). The likely outcome of the investment made are always concern of the business and the knowledge of such procured by them based on capital budgeting techniques and various analyses which are conducted prior the investments are being made. The paper gives an outlined discussion about the role and requirement of capital budgeting. It further discusses the concepts of sensitivity analysis, scenario analysis, break-even analysis and simulation technique and their applicability in helping the investing business body to procure knowledge about the expected outcome of their actions of investments. The paper is prepared based on the motive to show how such theoretical analyses concept applies to business decision-making process and to what extent it influences such decisions Discussion: In order to take any decision regarding investment, a business always needs to undertake capital budgeting process that helps the business entity determine whether to take up the investment in certain projects. A business organization has to take decision regarding various issues like installation of new machines, new plants, replacement of old machines, launching new products, research and development for new projects all of which requires funding through the capitalization structure of the firms. The capitalization source of the company includes debt, equity or retained earnings received by the companies (Dutta and Babbel 2014.). Capital budgeting is a technique that rightly tries to allocate resources for capital utilization and investment expenditure so that the firm is able to derive higher return from the investments made and deliverance of higher payoffs to their shareholders. Important procedures or concepts applied in capital budgeting are: Accounting Rate of Return Net present Value Internal Rate of Return Profitability Index Equivalent Annual Cost Capital budgeting is important to help a firm take decision regarding its investment decision but it is not the only component to be carried, as there are other analysis needs to be followed too. Some of them are sensitivity analysis, scenario analysis and break even analysis followed by stimulation techniques (Nas 2016). Sensitivity Analysis The investment decision is exposed to many challenges regarding the strength weakness of the project they are invested in. This further brings forth the associated risk factor that comes up in almost with every decision. To ensure effectiveness of the implementations, the set of risks associated with any projects should be assessed. There comes the importance of sensitivity analysis. It helps the investor attain additional insight about the decision made for incorporating any investment (Damodaran 2016).. This is a technique that helps the business determine the difference of the impact of independent variables on certain dependent variable under given assumptions. The independent variables are used as input variable that specifies the boundaries for the impacts assessed (Xu and Yuan 2015). For example, how the bond prices are affected by changes in interest rate and currency exchange rates can be assessed by running sensitivity analysis where bond price is treated as dependent varia ble and rate of interest and currency rate as independent variables. SA examines the extent and viability of any project based on the quantifiable variables associated with the investment decisions (Mathuva 2015). The greater the fluctuation of the parameters the lesser is the risk inherent in the project. Sensitivity analysis helps to derive the net benefits derived from the project along with making a quantitative analysis of their influence. It includes testing of the effects of variation the cost and benefit variables that are selected based on the projects internal rate of return or net present value. In the algorithm of investment risk analysis, sensitivity analysis is one of the important tools that effectively quantify the risk analysis. The major purpose is to quantify the riskiness, the possible consequences by evaluating the risk (Maroyi and van de r Poll 2012). This analysis helps managers to assess the responsiveness and sensitivity of net present value of any project to the changes in the variables that are used to calculate it. NPV depends on various independent variables like volume of sales, selling price, initial outlay, investment cost and components, variables costs, interest rate on loans, discount rate and so on (Ba?bura, Giannone and Lenza 2015). With changing situations they receive impacts when calculated under alternative assumptions which rightly evaluate the amount of sensitivity they have with respect to the changes over time. The vulnerability of the project with respect to the changes in various dependent variables are assessed. Application of sensitivity analysis helps in locating the variables to which NPV is responsive and sensitive too. The extent f their changes are also detected before the business starts resulting in negative NPV. The possibility of whether or not a project would fail is captured by the analysis (Damodaran 2016).. Controlling of the variables affecting the performance of NPV are important to be taken care of since negative present value acts as one of the risk factor in the investment that a business would certainly want to avoid. SCENARIO ANALYSIS The next component in analysis comes the scenario analysis, which involves the process of estimation made about the expected value of any portfolio investment after a period. The estimations are based on the changes of the factors related to security of portfolios such as rate of interest. This kind of analysis helps the business assess the changes that might take place due to unfavorable event and their impact on the net value of the investment made (Sargent 2013). To examine the effect of theoretical worst-case scenario of the decision, the scenario analysis plays important role. This analysis brings forth various possible outcomes that might be developed in future instead of fiving one specific estimation (Burns and Walker 2015). The scenario analysis is excluded of extrapolation that is it does not depend on the past trends followed by historical set of data. It also discards the past expectations to remain valid for future estimation analysis. There are various methods to encounter scenario analysis common one being determination of standard deviation of the monthly or daily returns of security followed by computation of the expected value of the portfolios (Daunfeldt and Hartwig 2014). Based on the position of the standard deviation above or below the average rate of return, the analyst derives reasonable amount of certainty about the change in the valuation of any investment in a given time period after running simulations of the extreme results (Kaplan and Mikes 2012). Scenario analysis helps the business analyze the result of the extreme outcomes related to business in order to design and develop business strategy. The process of scenario analysis not only helps in examining the potent of investment but also helps in assessing the values shifts of various financial institutions. In order to examine different outcomes emanating from financial decisions made by the consumers this analysis is helpful tool. The potential outcome of any financial decisions taken by business can be evaluated based on such analysis. The scenario analysis helps to evaluate the potential variability that the net present value of capital budgeting project has. Based on the different scenarios the net present values might change and that are effectively captured by the scenario analysis. Based on the analysis made by the analyst, estimation of expected cash flows are derived which is known as base-case scenario. Net present value is computed for both the outcomes of vest case and worst-case scenario (Lam, Cheung, Tang and Ng 2012). The analysis of worst-case scenario is very helpful for the managers as it allows them to reap an idea about the extent to the fall in NPV. How NPV is affected due to simultaneous changes in various factors are rightly captured under scenario analysis. Break Even Analysis: The break-even analysis helps the business locate its operative level that faces equality between received revenue and incurred cost or expenditure. This analysis helps the business set its margin of safety with regards to the profit and loss incurred by the company. The margin of safety is ascertained when generated revenues exceed the cost of the business that is the exceeding of the break even point of the business (Burns and Walker 2015). Revenues can fall even staying above of the break even point. The analysis is concentrated to supply side of the business dealing with the costs of the sales. The analysis excludes the demand side impact of difference in the price levels (Hasan 2013). The conduction of break-even analysis depends on the mostly concept of three types of costs. They are fixed cost, variable cost and semi-variable cost. Fixed cost consists of the costthat has no impact on it due to the increase or decrease in the amount or production a business undertakes. It is the cost the company has to incur irrespective of the business activity and its condition. This is one of the major component of the total cost of any business (Daunfeldt and Hartwig 2014). A company paying an amount of $10,000 per month to pay for the cost of lease even if the production is halted falls under fixed cost category. Cost for the lease of land, advertisement, rents are included in the fixed cost that needs to be maintained anyhow even if the productions are not running. Variable cost is dependent on the production of output. They are positive function of production amount since as the production rises they rise and fall with the decrease in the production (Brealey et al 2012). This includes costs of the direct inputs such as materials used in production and direct costs of labor and capital. The variable cost in the long run increases steeply as the production in expanded. Semi variable cost is also semi fixed cost that includes combination of both these type. Up to certain level the cost of production remain fixed and beyond that, the cost starts to increase as the production increases (Bodie 2013). Semi variable cost leads to greater level of total cost for the expanded production and a fixed amount of cost for no production at the extreme case. Labor costs of factory workers are of this type of cost where for regular working hours they receive a fixed pay off and for hours beyond that they receive extra pay offs depending on the hours (Ba?bura, Giannone and Lenza 2015). After evaluating, the cost of production next step in the break even analysis is to ascertain the price level which is partly responsible in generating greater revenues combined with amount of sales. Even the amount of sales depend on the pricing further (Hwang and Masud 2012). The prices can be competition driven in order to capture the higher market share based on profitability. Penetration pricing is another strategy applied by business in order to set strategy that focuses on attracting larger customer base toward their products (Bierman and Smidt 2012). Variable cost-plus pricing is the method of adding mark up to total variable cost when it comes to set the prices. It is expected that the mark up covers for the total or partial of the foxed costs and helps in generating profit. Simulation Technique This is stochastic linear programming helps the firm to derive the expected return of investments assessing the inbuilt risk factors in portfolios. It helps to assess the NPV associated with different projects (Bhattacharya 2014.). Different probabilities are associated with different outcomes and often it is not possible to produce exact probabilities of any event. Range of probabilities is existent. Having knowledge of different probabilities help in calculating the interrelations among the variables through the process of simulation. For example, a distribution of NPV can be derived based on the probable availability of cost-saving percentage and low usage of energy. This gives the probability assigned with each possible NPV (Bardach and Patashnik 2015). This further helps in deriving the discount rate to evaluate the uncertainty and riskiness associated with the NPV. Simulation helps in deriving the risk prone of the projects. Higher riskiness creates more hurdles for the busines s compared to lower risk detected. The adjustments of risk are hence important factor to be taken care of. There are two ways to adjust the returns of a project face higher risk by increasing the discount rate or making reduction the payment (Ba?bura, Giannone and Lenza 2015). Increasing the discount rate is composed of base risk free rate and a value added beyond a point depending upon the level of risk. Higher risk calls for higher premium and greater uncertainty leads to fall in NPV as the discounted rate for future are high. This further implies the necessity of the project to have higher internal rate of return to exceed the rate of hurdles (Hill 2013). Conclusion From the above discussion the role of capital budgeting teamed up with sensitivity analysis scenario analysis and breakeven analysis are well understood. In the modern world of market economy investment and capital expansion plays important role in ascertaining growth of business by tapping market potentials. How effective investment decisions are for the business organization are well analyzed based on these methods and techniques of analysis and simulations. How certain internal as well as external factors of business affect the business operation and the outcome of its decision are greatly based on the results of such analyses that helps the firm to identify and set strategies according to such issues. Thus in decision making of business entity the aforementioned analyses play bigger role consolidating the process of capital budgeting. References Ba?bura, M., Giannone, D. and Lenza, M., 2015. Conditional forecasts and scenario analysis with vector autoregressions for large cross-sections.International Journal of Forecasting,31(3), pp.739-756. Bardach, E. and Patashnik, E.M., 2015.A practical guide for policy analysis: The eightfold path to more effective problem solving. CQ press. Bhattacharya, H., 2014.Working capital management: Strategies and techniques. PHI Learning Pvt. Ltd.. Bierman Jr, H. and Smidt, S., 2012.The capital budgeting decision: economic analysis of investment projects. Routledge. Bodie, Z., 2013.Investments. McGraw-Hill. Brealey, R.A., Myers, S.C., Allen, F. and Mohanty, P., 2012.Principles of corporate finance. Tata McGraw-Hill Education. Burns, R. and Walker, J., 2015. Capital budgeting surveys: the future is now. Damodaran, A., 2016.Damodaran on valuation: security analysis for investment and corporate finance(Vol. 324). John Wiley Sons. Daunfeldt, S.O. and Hartwig, F., 2014. What determines the use of capital budgeting methods? Evidence from Swedish listed companies.Journal of Finance and Economics,2(4), pp.101-112. Dutta, K.K. and Babbel, D.F., 2014. Scenario analysis in the measurement of operational risk capital: a change of measure approach.Journal of Risk and Insurance,81(2), pp.303-334002E Hasan, M., 2013. Capital budgeting techniques used by small manufacturing companies.Journal of Service Science and Management,6(01), p.38. Hill, R.A., 2013. Working capital management.Recuperado de https://202.191,120, p.8020. Hwang, C.L. and Masud, A.S.M., 2012.Multiple objective decision makingmethods and applications: a state-of-the-art survey(Vol. 164). Springer Science Business Media. Kaplan, R.S. and Mikes, A., 2012. Managing risks: a new framework. Lam, K.C., Cheung, S.O., Tang, C.M. and Ng, S.T., 2012. Capital budgeting evaluation practices of building contractors in Hong Kong.Construction Economics and Building,2(1), pp.81-93. Maroyi, V. and van de r Poll, H.M., 2012. A survey of capital budgeting techniques used by listed mining companies in South Africa.African Journal of Business Management,6(32), p.9279. Mathuva, D., 2015. The Influence of working capital management components on corporate profitability. Nas, T.F., 2016.Cost-benefit analysis: Theory and application. Lexington Books. Sargent, R.G., 2013. Verification and validation of simulation models.Journal of simulation,7(1), pp.12-24. Xu, C. and Yuan, S., 2015. An analogue of break-even concentration in a simple stochastic chemostat model.Applied Mathematics Letters,48, pp.62-68.