Thursday, December 26, 2019

Probabilities for Dihybrid Crosses in Genetics

It may come as a surprise that our genes and probabilities have some things in common. Due to the random nature of cell meiosis, some aspects to the study of genetics is really applied probability. We will see how to calculate the probabilities associated with dihybrid crosses. Definitions and Assumptions Before we calculate any probabilities, we will define the terms that we use and state the assumptions that we will work with. Alleles are genes that come in pairs, one from each parent. The combination of this pair of alleles determines the trait that is exhibited by an offspring.The pair of alleles is the genotype of an offspring. The trait exhibited is the offsprings phenotype.Alleles will be considered as either dominant or recessive. We will assume that in order for an offspring to display a recessive trait, there must be two copies of the recessive allele. A dominant trait may occur for one or two dominant alleles. Recessive alleles will be denoted by a lower case letter and dominant by an upper case letter.An individual with two alleles of the same kind (dominant or recessive) is said to be homozygous. So both DD and dd are homozygous.An individual with one dominant and one recessive allele is said to be heterozygous. So Dd is heterozygous.In our dihybrid  crosses, we will assume that the alleles we are considering are inherited independently of one another.In all examples, both parents are heterozy gous for all of the genes being considered.   Monohybrid Cross Before determining the probabilities for a dihybrid cross, we need to know the probabilities for a monohybrid cross. Suppose that two parents who are heterozygous for a trait produce an offspring. The father has a probability of 50% of passing on either of his two alleles. In the same way, the mother has a probability of 50% of passing on either of her two alleles. We can use a table called a Punnett square to calculate the probabilities, or we can simply think through the possibilities.  Each parent has a genotype Dd, in which each allele is equally likely to be passed down to an offspring.  So there is a probability of 50% that a parent contributes the dominant allele D and a 50% probability that the recessive allele d is contributed.  The possibilities are summarized: There is a 50% x 50% 25% probability that both of the offsprings alleles are dominant.There is a 50% x 50% 25% probability that both of the offsprings alleles are recessive.There is a 50% x 50% 50% x 50% 25% 25% 50% probability that the offspring is heterozygous. So for parents who both have genotype Dd, there is a 25% probability that their offspring is DD, a 25% probability that the offspring is dd, and a 50% probability that the offspring is Dd. These probabilities will be important in what follows. Dihybrid Crosses and Genotypes We now consider a dihybrid cross.  This time there are two sets of alleles for parents to pass on to their offspring.  We will denote these by A and a for the dominant and recessive allele for the first set, and B and b for the dominant and recessive allele of the second set.   Both parents are heterozygous and so they have the genotype of AaBb. Since they both have dominant genes, they will have phenotypes consisting of the dominant traits.  As we have said previously, we are only considering pairs of alleles that are not linked to one another, and are inherited independently. This independence allows us to use the multiplication rule in probability.  We can consider each pair of alleles separately from each other.  Using the probabilities from the monohybrid cross we see: There is a 50% probability that the offspring has Aa in its genotype.There is a 25% probability that the offspring has AA in its genotype.There is a 25% probability that the offspring has aa in its genotype.There is a 50% probability that the offspring has Bb in its genotype.There is a 25% probability that the offspring has BB in its genotype.There is a 25% probability that the offspring has bb in its genotype. The first three genotypes are independent of the last three in the above list.  So we multiply 3 x 3 9 and see that there are these many possible ways to combine the first three with the last three.  This is the same ideas as using a tree diagram to calculate the possible ways to combine these items. For example, since Aa has probability 50% and Bb has a probability of 50%,  there is a 50% x 50% 25% probability that the offspring has a genotype of AaBb.  The list below is a complete description of the genotypes that are possible, along with their probabilities. The genotype of AaBb has probability 50% x 50% 25% of occurring.The genotype of AaBB has probability 50% x 25% 12.5% of occurring.The genotype of Aabb has probability 50% x 25% 12.5% of occurring.The genotype of AABb has probability 25% x 50% 12.5% of occurring.The genotype of AABB has probability 25% x 25% 6.25% of occurring.The genotype of AAbb has probability 25% x 25% 6.25% of occurring.The genotype of aaBb has probability 25% x 50% 12.5% of occurring.The genotype of aaBB has probability 25% x 25% 6.25% of occurring.The genotype of aabb has probability 25% x 25% 6.25% of occurring. Dihybrid Crosses and Phenotypes Some of these genotypes will produce the same phenotypes.  For example, the genotypes of AaBb, AaBB, AABb, and AABB are all different from each other, yet will all produce the same phenotype.  Any individuals with any of these genotypes will exhibit dominant traits for both traits under consideration.   We may then add the probabilities of each of these outcomes together: 25% 12.5% 12.5% 6.25% 56.25%.  This is the probability that both traits are the dominant ones. In a similar way we could look at the probability that both traits are recessive.  The only way for this to occur is to have the genotype aabb.  This has a probability of 6.25% of occurring. We now consider the probability that the offspring exhibits a dominant trait for A and a recessive trait for B.  This can occur with genotypes of Aabb and AAbb.  We add the probabilities for these genotypes together and have18.75%. Next, we look at the probability that the offspring has a recessive trait for A and a dominant trait for B.  The genotypes are aaBB and aaBb.  We add the probabilities for these genotypes together and have a probability of 18.75%.  Alternately we could have argued that this scenario is symmetric to the early one with a dominant A trait and a recessive B trait. Hence the probability for this outcomes should be identical. Dihybrid Crosses and Ratios Another way to look at these outcomes is to calculate the ratios that each phenotype occurs.  We saw the following probabilities: 56.25% of both dominant traits18.75% of exactly one dominant trait6.25% of both recessive traits. Instead of looking at these probabilities, we can consider their respective ratios.  Divide each by 6.25% and we have the ratios 9:3:1.  When we consider that there are two different traits under consideration, the actual ratios are 9:3:3:1. What this means is that if we know that we have two heterozygous parents, if the offspring occur with phenotypes that have ratios deviating from 9:3:3:1, then the two traits we are considering do not work according to classical Mendelian inheritance.  Instead, we would need to consider a different model of heredity.

Wednesday, December 18, 2019

Environment Energy Development and Environmental Problems

Criteria: CAUSE | Rich nations | Developing nations | Industries (MNCs, TNCs) | Cause | Historically, rich nations are primary contributors to global warming due to past industrial activity.Per capita consumption patterns are highest in the developed world. | Currently, some of the developing nations who are the larger contributors to global warming.In the future, it is the current rapidly developing nations that will be the primary contributors to global warming. | --While it may appear that some of the developing nations are greater contributors to carbon emissions today, much of such emissions are from industrial activity from companies owned by rich nations. --Physical location is thus not as important as national ownership. |†¦show more content†¦(Need not cut back on energy consumption) | Lack of willLack of cooperation | Based on current trends in science and technology, Man is likely to invent more ingenuous ways of protecting the environment while at the same tim e enjoying economic progress. | Man appears to have reached the limits of his intellectual abilities. | Protecting the environment can also be economically viable as evidenced by eco-tourism and jobs in the alternative energy market. | Man’s Greed | It is increasingly possible to protect the environment because of the use of alternative energy resources, the increased pressure from governments to work together to seek solutions, the more ingenuous ways of protecting the environment and the economically viable pursuits. 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Tuesday, December 10, 2019

Strategy Management for Market of Patagonia- myassignmenthelp

Question: Discuss about theStrategy Management for Market of Patagonia. Answer: Introduction: The market of Patagonia is essential in understanding their necessity for the principle of driving sustainability across the organization. It generally sets the background for seeing reasons on why any organization operating within the outdoor market segment should endeavour in protecting the planet and performing business activities. The segment of global apparel and outdoor industries have been on the rise since 1960s, with the market analysts estimating the fact that the present segment of performance apparel has been growing at double the pace of the total sector if sports apparel. Performance apparel is stated to grow at a rapid rate for men than that of women in regions like East Asia, Europe and North America. As consumers have been demanding clothing of multi-functional nature, new competitors have been entering the market of performance apparel (Hvass 2013). This report would take into account the external environment along with the core competencies of the company in the ou tdoor clothing industry. External environment and industry competition within outdoor active lifecycle clothing industry Political: This mainly has to do with the political environment prevailing within a particular country. It is generally being supposed that is the temperatures of politics are down, business tends to thrive. Companies do suffer entry approach regulations, rights of intellectual property along with certain taxation laws. One of the key reasons the outdoor active lifestyle of clothing industry had been facing a rise and fall is for political unsteadiness. The economy is generally intervened by the policies and laws that is issued by the government resulting in several ups and downs within the industry (Sinha and Foscht 2016). The laws take in recycling of the waste materials, policies related to import, trade and export having major impact on the outdoor clothing industry. The clothing industry is also being affected by the regulations and rules related to the taxation with modifications in these rules existing within the countries impacting the growth of the economy of the outdoor clothing indus try. Economic Factors: The industrys economic growth is generally seen in the high time, when the rate of interest is much lower, the sales are stated to be superlative with larger profits been seen. Not only this fact but the rate of inflation along with the exchange rate has also been influencing the outdoor clothing industry. Another key factor is the credit crisis that is stated to be not only an issue for the producer but for the buyer as well. Social Factors: The outdoor clothing industry is mainly being affected by peoples social behaviour along with their attitude towards the product. The difference that exists in the culture along with the peoples attitude towards factor of career affects the industry. The labour cost also depends on the society, affecting the companys sales. Many of the social causes like the rules and regulations against the child labour have also been affecting the outdoor clothing industry. Adding to that is the trend within fashion that is being changing ever so quickly has been leading the outdoor clothing or apparel industry to take into consideration and alter their products as per the need (Carroll and Buchholtz 2014). Technological Factors: With technological advancement, the approach that is being used by the outdoor apparel industry has altered that has been able to speed up the development however augmenting the cost factor as well (Keiser, Garner and Vandermar 2017). The technological factor might also be affecting the outdoor apparel industry through defining of the accessibility of the resources along with their resources and their most favourable use. The process that is being used currently is primarily automatic, though not every owner would be able to use it for the amplification in the cost. Legal Factors: Many of the social activists were seen following the owners of the garments industry for the issue of the child labour along with many of the legal activities that were being held consequently. Some of the other legal issues have been related to the laws and policies that were being held by the government. Environmental Factors: Issues related to product recycling have remained complex for the apparel industry in helping keeping the environment clean. Other key issues that have been affecting the industry are global warming and the clearance factor of some of the ordinary resources in producing the clothes. In this present era, organizations need to have stricter store policies of the waste materials or the by-products. They need to issue a yearly or quarterly report on the activities deemed environment friendly along with the processes. This provides government with the assurance of the commitment of organizations in producing products that are environment friendly. Industry Competition: Patagonia has been a successful company, though it has been facing stiff competition from The North Face, Marmot and Columbia Sportswear. The North Face that was founded by Doug Tompkins in the year 1968 is being stated to be the biggest competitor of Patagonia, being able o builds a trusted name among the enthusiasts of outdoor recreation and other trendy urban dwellers (Matzler, Veider and Kathan 2015). The line of products in the North Face takes into account backpacking backpacks, something that has been missing from the lost of Patagonia. This item is what sets The North Face apart from Patagonia. Adding to that is the fact that The North Face tags on with Patagonia when it comes down to environment sustainability. However, Patagonias environment sustainability along with company transparency is much more if compared to The North Face. Columbia Sportswear has been another big competitor of Patagonia that was founded in 1938 by Paul Lamfrom, a company that has been in the business 30 years prior to Patagonia. This provides Patagonia with the opportunity of more customer loyalty across multiple generations. Columbia Sportswear has been a public owned company and is much bigger than Patagonia, though both the companies have varied target market. The products of Columbia are stated to be more affordable, facilitating them in tapping into the markets that consists of lower income group of people. As per Lee, Seifert and Cherrier (2017), both the company matches in the fact that they manufacture top quality apparel, though it has been seen that Columbia Asia is not that involved in the aspect of environmental sustainability facet of designing products and developing the same. Critically discuss Patagonias resources and competencies for gaining competitive advantage Taking into consideration Patagonias operations, it can be stated that the firm has been operating making use of the resources and organizational potentials to their fullest. Patagonia produces company value through their acquainted use of the primary along with the secondary activities. Their efficient operations of plant have been adding value to their business. Porters Five Forces: This study has been conducted in collecting efficiently within the marketplace that fits Patagonia within the market of outdoor apparel. It is important to understand the industrys competitive intensity, probable new entrants, and substitutes of those products, customers influence and suppliers on the firms activities. Competition Intensity: Patagonia is generally present on many of the Strategic Business Unit, inclusive of the outdoor clothing sale. This sector of outdoor clothing boasts of multitude of actors. Patagonia thus face competition from three companies, with the main being Columbia Sportswear, stated to be the leader in this market. Its activities are generally diversified in the outdoor clothing industry (Carbonaro and Goldsmith 2014). Patagonia exists within an industry that is highly competitive, along with the size of dozen firms that are either smaller or larger. However the company does have a feature that differentiates it from the competitors, providing it with stronger competitive advantage (Oeppen and Jamal 2014). The company has aimed towards protecting the environment and it does not make use of the materials generally used by its competitors like the organic cotton. Patagonia has been the first brand that is being identified as making use of global ecological textile. Potential customers have perceived the brand in varied ways from that of Patagonia and in remaining a leader in generating environmental friendly clothing, Patagonia posed entry barriers in the shape of patents over fashion designing methods and making use of certain materials like Capilene (Kant Hvass 2014). New entrants: The instance of Patagonia begins steadily to be imitated. Companies like Nike have been using 3 per cent of organic cotton in their T-shirt designing, however, Patagonia, the specialist in outdoor clothing is more than ready in developing necessary funds for environmental friendly clothing and performing actions on the environment as being done by them for the past 20 years. So, it can be stated that the competitive advantage of Patagonia is generally not jeopardized by the over potential new entrants. The outdoor clothing market has generally remained open. For over 50 years the sector of outdoor clothing has been of extensive nature in the field of sports, and only signs offering clothing to quality acting and utility of sport within the market. But presently the situation has altered along with the detonation of the market for the outdoor activities for augmentation in free time, bringing in the companies that are new for providing products outside the sports genre (Ward 2017). Substitution Products: Patagonia manufactures outdoor clothing that is being dedicated to the 5 world of sports that are skiing, mountain climbing, hiking, fly fishing and climbing. Patagonias offered clothes are perfectly being suited with the practice of the sport. However, trends within the community of sports do change and so does the dress code. Patagonia needs to fight against the various brands not only in the segment of sports but also within the clothing segment streetwear in their outdoor clothing marketplace. These alternatives are often stated to be cheaper than the products of Patagonia for weaker presentation, as it is generally easy for people, particularly the backpackers in obtaining the substitute products from the house of Patagonia (Carneiro et al. 2014). Within this the substitute products are real threat to Patagonia, but as the competitive products and new entrants, they would not be affecting the firms competitive advantage. Power of customers: Patagonia is an organization that is unique within the vast textile fields. This is why the customer base of the company is stated to be specific in meeting the specific criterion. The clients range is generally small and quite concentrated with most being loyal to the brand for most of the part, forcing the brand in properly evaluating their request for not disappointing and weakening their loyalty. They are not in the habit of buying in larger quantities, and given Patagonias quality product on time, it is essential for the brand in innovating for maintaining the charm of its customers for the products. Power of Suppliers: Patagonia has been in association with more than 160 suppliers for producing the wider range of outdoor clothing. Relationship existing between the firm and the partners has not been frequent as Yvon Chouinard insists on the fact that trust and mutual govern these reports. For instance, since the year 1996, Patagonia has been making real cuts in the profits through recognized sympathetic relationships with the farmers producing organic cotton struggling in selling their crops. Patagonia has been agreeing in allocating 10 per cent of its turnover in the areas of research and development for exchange of constancy of some of the suppliers. Core Competencies: The main desire of Patagonia has always been in building the best product while continuing its major contribution towards the environment where they play. Their core values consist of quality stating detection of ever-greater quality in everything they perform, and integrity facilitating relationships that is being built on respect and integrity (Resta et al. 2016). Adding to that is environmentalism factor serving as a catalyst for corporate action. Patagonias current mission statement can support its growth and expansion strategies Patagonias Mission Statement: The mission statement of Patagonia states, Build the best product, cause no necessary harm, use business to inspire and implement solutions to the environment crises. Patagonia grew out from being just the small organization that was in the habit of making tools for the climbers. Alpinism still remains at the heart of the global business scenario still making clothes for climbing along with skiing, surfing and snowboarding, trail running and paddling. These are all generally silent sports. None of these requires a monitor; none distribute the cheers of the crowd. The values of the company have been reflecting those of a business that was started off by a climbers band and surfers, promoting the minimalist style. The advancement taken by the company towards designing of the product illustrates a bias for efficacy and minimalism. Patagonia believes in saving the wild and beautiful places out of the love they have for the same, helping reverse the sheer decline in the total environmental health of the planet. As per Sinha and Foscht (2016), the company has been donating their time, services and around 1 per cent of their sales to the existing hundreds of grassroots environmental groups across the world who works in helping reverse the tide. The company understands that their business activity ranging from lighting stores and dyeing shirts generates pollution as by-product. The company has been working steadily in reducing those harms. They have been making use of the recycled polyester in most of their clothes and only organic, instead of the pesticide-intensive, cotton. The company has been able to stay true to their core values during their thirty-plus years of business, helping them in creating a company that their employees are proud to run and work. Their primary focus has been on making the best products that is generally possible that has given them success within the marketplace. Patagonia strives hard in lessening the harmful practices within the environment in every facade of production along with clothing allotment (Lee, Seifert and Cherrier 2017). Patagonias mission statement has been built exactly on the things they perform at marketplace. While participating in the activities within extreme terrain and perfidious weather, one requires quality products in keeping them safe and performing the same at the highest level. Money and materials are required in making the products required in performing at the highest possible level within any condition. Patagonia is a company that requires labelling their products at high price to meet the ends of producing this high-end clothing, while remaining focused on giving something back to environment and manufacturing products that are less harm to environment (Finster and Hernke 2014). There is no need to alter the mission statement of Patagonia as they have doing a splendid job in maintaining a balance between the mission statement and the things they do to market their products (Carroll and Buchholtz 2014). It has been doing its bit in saving the environment and manufacturing quality products that has helped in facilitating the company with desired market share. SWOT evaluation of Patagonia SWOT analysis of Patagonia Strengths: Being one of the private companies facilitates freedom in innovating in line with the mission of Patagonia. But it is their internal association that lengthens far beyond the doors of their headquarters in Ventura. Their assurance towards integrity leads towards lasting relationships with the customers and suppliers, the improvement of Fair Labour Association, 1 per cent for the planet along with the Conservation Alliance (Kant Hvass 2014). Their translucent communication across all the channels of stakeholders drives the growth of the company every year. Advertising at Patagonia has always been a low priority with their success rate in the last decade being attributed to the awareness of brand. The commitment of Patagonia is developing a hand-like model of inspection continues enhancing the intent and materials of their products. Their focus on building the best possible product since the 60s turned a logical property and intangible asset into strength. Weakness: One of the biggest drawbacks of this company has been their reliability towards useful and resilient products where compromising quality for the purpose of more eco-friendly options becomes complicated (Lee 2017). Their commitment in building the best product regularly brings them to a crossroad. Polyester that is derived from oil is not renewable. Employees need to establish whether the harm sourced by the production and usage of polyester is necessary or not. Opportunities: The surfacing of the outdoor industry within the last decade has attracted a broader range of individuals. The brand of Patagonia has been able to efficiently create its own lifestyle, one that becomes easier in associating with for the people interested in extreme outdoor sports. The segment of apparel alone captured approximately 35 per cent in the outdoor industry. Patagonia does have a chance in capturing the new customers minds and hearts within the industry. It is expected that the global sales would increase over 18 billion dollars by the end of 2018; the segment would be increasing the share of market of overall segment of sports apparel. Threats: It is important to understand the present threats facing Patagonia: the climatic change. It might be possible for the world to adapt, though the exacting elements of the outdoor industry might cease to exist when there are major changes to transpire. The prolongation of the economic crisis might seem ok for the brand Patagonia, the company has been claiming consumers does make longer lasting buying during the process of decline (Hyun-Nam Lee and Ha-Brookshire 2015). Yet, if Patagonia truly considers in forming a sustainable future, everybody needs to prosper. They might find it easy in educating customers during tough times; but customers might not listen when their security is endangered. Conclusion: The company is doing great with it promoting the idea of the company should buy and consume fewer amounts of products. It does advocate a basic lifestyle through its cutting-edge technology in manufacturing of clothes and minimalist design, however marketing a naive lifestyle through its continuous dedication towards sustainability. Its use of environmental friendly fibres has been the success factors on sustainability. References: Carbonaro, S. and Goldsmith, D., 2014. Business models in search of clarity.Routledge Handbook of Sustainability and Fashion, p.160. Carneiro, L., Shamsuzzoha, A.H.M., Almeida, R., Azevedo, A., Fornasiero, R. and Ferreira, P.S., 2014. Reference model for collaborative manufacturing of customised products: applications in the fashion industry.Production Planning Control,25(13-14), pp.1135-1155. Carroll, A. and Buchholtz, A., 2014.Business and society: Ethics, sustainability, and stakeholder management. Nelson Education. Finster, M.P. and Hernke, M.T., 2014. Benefits organizations pursue when seeking competitive advantage by improving environmental performance.Journal of Industrial Ecology,18(5), pp.652-662. Hvass, K.K., 2013. Exploring Business Model Innovation for Closed Loop Fashion. InSustainable Innovation 2013-18th International Conference(pp. 111-117). Hyun-Nam Lee, S. and Ha-Brookshire, J., 2015. How do You Deal with External Uncertainties? Case Studies of a Cambodian Apparel Manufacturer and a US Apparel Import Intermediary.Journal of Textile Apparel Technology Management (JTATM),9(2). Jordan, A.M., 2016. Towards Sustainability: Online Ethical Fashion Retailer. Kant Hvass, K., 2014. Post-retail responsibility of garmentsa fashion industry perspective.Journal of Fashion Marketing and Management,18(4), pp.413-430. Keiser, S., Garner, M.B. and Vandermar, D., 2017.Beyond design: The synergy of apparel product development. Bloomsbury Publishing USA. Lee, K.E., 2017. Environmental Sustainability in the Textile Industry. InSustainability in the Textile Industry(pp. 17-55). Springer Singapore. Lee, M.S., Seifert, M. and Cherrier, H., 2017. Anti-consumption and Governance in the Global Fashion Industry: Transparency is Key. InGoverning Corporate Social Responsibility in the Apparel Industry after Rana Plaza(pp. 147-174). Palgrave Macmillan US. Matzler, K., Veider, V. and Kathan, W., 2015. Adapting to the sharing economy.MIT Sloan Management Review,56(2), p.71. Oeppen, J. and Jamal, A., 2014. Collaborating for success: managerial perspectives on co-branding strategies in the fashion industry.Journal of Marketing Management,30(9-10), pp.925-948. Resta, B., Gaiardelli, P., Pinto, R. and Dotti, S., 2016. Enhancing environmental management in the textile sector: An Organisational-Life Cycle Assessment approach.Journal of Cleaner Production,135, pp.620-632. Sinha, J.I. and Foscht, T., 2016. Reverse psychology tactics in contemporary marketing.The Marketing Review,16(3), pp.343-353. Ward, R.A., 2017. Sustainable Fashion: Breaking the Myth.

Tuesday, December 3, 2019

Legal Structure

Sole Proprietorship This is the simplest form of business organization with the least level of regulation. It is managed by the owner who controls the profits and the tax issues of the business. The proprietor controls every bit of the business till death after which the business can be inherited by family members. There is flexibility involved since the owner is capable of shifting to any business of his/her choice, provided there are benefits in terms of tax payment on assets (Ward 1).Advertising We will write a custom essay sample on Legal Structure specifically for you for only $16.05 $11/page Learn More One of the advantages of this legal structure is that it is easy to start since it requires low capital. This entity sometimes does not even require registration at the start depending on location. Registration is however cheaper as compared to other legal structures. The business tax is charged based on the same personal income tax form of the owner . Disadvantages of this structure are that the security of the entity is prone to risk due to poor decisions made by the proprietor. The owner assumes all the responsibilities of the business including debts which sometimes prove to be tedious. Failure to settle debts can lead to disposal of personal assets for the purposes of clearing the debts. The disadvantage of this kind of legal entity is that all the assets face the risk of being disposed after the owner’s death. The business is further risky when facing any kind of law suit, since this may lead to disposal of all assets related to the proprietor. The proprietor faces a lot of liability risks which calls for registration of several insurance policies to ensure safety (Ward 1). General Partnership This is the situation whereby two or more people come together with the aim of doing a business. Each partner within this coalition has got the right to exercise control over management of the affairs of the business. This is defined by the level of each partner’s investment within the coalition. The liabilities of the business are equally shared amongst the partners, even if only one of them is the cause of the mistake. To avoid unnecessary risks all the people involved in the partnership register their business as a Limited Liability Partnership with the government. The personal tax liability of each partner is determined by the ratio of the partner’s share of income and losses from the firm (Ward 2). Limited Partnership This is the legal structure whereby one contributes with minimal involvement in the activities of the business. Limited partners are never involved in the management of the business entity; the liability of limited partner to the firm is based on individual’s percentage of investment in the business (Ward 2).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Limited Liabilit y Company This is the type of entity that runs in more similar way as a corporation. Its operations lie in between partnership and corporation since its ownership is by either one or more members. The owners are considered the interest holders who exercise full control over the management decisions. The contributions of the members cannot be easily lost since the entity runs its business even after the withdrawal of some shareholders. The business is governed by some kind of agreement which determines the characteristics of the LLC including rights and powers of members and administration team (Ward 2). Advantages and disadvantages of Partnerships In this case the liability burden experienced on sole proprietorship is reduced. The working relationship amongst the partners forms the strength of these partnerships. The success of these partnerships is based on the willingness of its members to share freely decisions and different talents they posses. In this legal structure, overall t ax returns are not signed twice but done based on the financial information of the partnerships and individual income of the partners. It is easier to challenge any wrongful decision or act by any of the partners, one partner can be held responsible for any wrong move. One of the disadvantages is that partnerships can always turn disastrous especially when the partners want to dissolve the business (Ward 2). Corporation This type of legal entity is where the ownership is separated from its shareholders who happen to be the true owners of the business. However, the business entity under corporation continues to operate irrespective of the status of its owners. This type of entity comprises of the management board which include shareholders and board of directors who are appointed by the owners. In this kind of business, it is not possible to recover debts from the management team. It is the shareholders responsibility to pay debts and repay loans owed by the corporation (Ward 3). One of the characteristics of this entity is that none of the members can be held responsible for any kind of losses. This makes it one of the most expensive and difficult businesses to run and operate. It is easier for the individuals to enter into contracts using the general name of the corporation and also members’ liability is restricted to the level of shares held by each individual (Ward 3).Advertising We will write a custom essay sample on Legal Structure specifically for you for only $16.05 $11/page Learn More Conclusion The level of personal liability involved in any kind of legal structure makes it very unfavorable to many. Different levels of taxation determine the choice of business legal structure by individuals or groups. It is always the responsibility of business owner to decide on the type of business structure that best answers his/her desires. Other factors affecting the choice of legal structure include corporate formalities and finances. Works Cited Ward, Susan. â€Å"Choosing a form of business ownership†. New York Times, 2010. Web. This essay on Legal Structure was written and submitted by user Sheva Callister to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.