What Are Evolutionary Clocks in Biology

Evolutionary clocks are genetic sequences within genes that can help determine when in the past species diverged from a common ancestor. There are certain patterns of nucleotide sequences that are common among related species that seem to change at a regular time interval. Knowing when these sequences changed in relation to the Geologic Time Scale can help determine the age of the species origin and when speciation occurred. History of Evolutionary Clocks Evolutionary clocks were discovered in 1962 by Linus Pauling and Emile Zuckerkandl. While studying the amino acid sequence in hemoglobin of various species. They noticed that there seemed to be a change in the hemoglobin sequence at regular time intervals throughout the fossil record. This led to the assertion that the evolutionary change of proteins was constant throughout geologic time. Using this knowledge, scientists can predict when two species diverged on the ​phylogenetic tree of life. The number of differences in the nucleotide sequence of the hemoglobin protein signifies a certain amount of time that has passed since the two species split from the common ancestor. Identifying these differences and calculating the time can help place organisms in the correct place on the phylogenetic tree in respect to closely related species and the common ancestor. There are also limits to how much information an evolutionary clock can give about any species. Most of the time, it cannot give an exact age or time when it was split off of the phylogenetic tree. It can only approximate the time relative to other species on the same tree. Often, the evolutionary clock is set according to concrete evidence from the fossil record. Radiometric dating of fossils can then be compared to the evolutionary clock to get a good estimation of the age of the divergence. A study in 1999 by FJ Ayala came up with five factors that combine to limit the functioning of the evolutionary clock. Those factors are as follows: Changing the amount of time between generationsPopulation sizeDifferences specific to a certain species onlyChange in the function of the proteinChanges in the mechanism of natural selection Even though these factors are limiting in most cases, there are ways to account for them statistically when calculating times. If these factors do come in to play, however, the evolutionary clock is not constant like in other cases but is variable in its times. Studying the evolutionary clock can give scientists a better idea of when and why speciation occurred for some parts of the phylogenetic tree of life. These divergences may be able to give clues as to when major events in history happened, such as mass extinctions.

The Oil And Gas Industry - 1146 Words

The oil and gas industry is crucial to the U.S. economy and plays a central role in its environment, society, and economic development . The U.S. consumes more oil than any other country. Products derived from oil include medicine, recreational sports items, cosmetics, plastic, chemicals, transportation liquids, etc... This is to say, crude oil is the most important natural resource of the industrialized nations, as it has assisted in the technical expansion and discovery of new sources and production of existing oil fields (Wintershall, 2015). The North American Industry Classification System (NACS) code for upstream oil and gas is 213112 Support Activities for Oil and Gas Operations. This code is used by Federal statistical agencies in classifying businesses for purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy. The broad Standard Industrial Classification (SIC) for oil and gas exploration falls under SIC 13. Throughout this paper, we explore oil extraction in the U.S., SIC 1311, and provide an economic analysis of the Upstream Oil Exploration Companies in the United States. History Oil history in the United States began in the 19th century. In 1859 John D. Rockefeller built a small oil refinery. In 1866 he opened an export office in New York City, and a year later Rockefeller joined forces with his brother William, S.V. Harkness, and Henry M. Flagler and created what was to become the Standard Oil Company. InShow MoreRelatedThe Oil And Gas Industry1293 Words   |  6 PagesThe oil and gas industry is characterized by many processes, including exploration, resource extraction, refining, transport, and the trade of products. These resources are important to a number of other industries, and have become vital to the maintenance of industrial civilization. Not only does energy affect the big businesses on the coasts and across the oceans; but it also affects everyday people in rural America, from pump jacks to coal mines. It’s easy to see that technology affects retailRead MoreThe Oil And Gas Industry2146 Words   |  9 Pagesand production one like Cair n Energy, operate in the oil and gas industry. Each of these companies faces some financial, commercial or contractual considerations similar throughout the industry, and some peculiar to the area of operation within the industry. Problems within the oil and gas companies have occurred in the past due to askew interests and these problems are likely to occur in the future. Managers within the oil and gas industries requires essential working knowledge of the concepts involvedRead MoreThe Oil And Gas Industry2308 Words   |  10 PagesWhen thinking about how all this oil and gas gets from the platforms in the gulf to land to be produced, you will run across the phrase, â€Å"flow assurance.† Flow assurance is what makes sure these oils and gases get from point A to point B without any hesitations or problems. Its main purpose is to prevent hydrates, clogged pipes, and wax depositions. So can the oilfield industry survive without flow assurance, especially in deep water operat ions? By reading this, you will learn how important flowRead MoreThe Oil And Gas Industry2910 Words   |  12 PagesThe oil and gas industry has been largely dependent on the collaboration between oil and gas companies and governments represented by environmental and regulatory agencies. This collaboration has been in place to regulate the practices and to protect the environment around the field operations sites. Some of the environmental agencies roles in the oil and gas industry includes: †¢ The design of safety procedures and drills. †¢ The implementation of these procedures to ensure they’re respected and carriedRead MoreThe Oil And Gas Industry1285 Words   |  6 Pagesthe largest in the southern U.S. and Texas, has been developing strong economy, especially in oil and gas industry. During the last decades of the twentieth century, Houston focused on developing energy industry—which comprises oil and gas exploration and production, oilfield equipment manufacturing and wholesaling, and pipeline transportation. 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Some of the risksRead MoreThe Oil And Gas Industry1070 Words   |  5 PagesStarting my petroleum engineering degree, the oil and gas industry was doing very well at the time.The price of oil was around a hundred dollars per barrel, new independent companies were frequently being created, and the employment rate after graduating with a petroleum engineering degree was close to one hundred percent.However, the outlook of the industry has drastically changed while being in school.The price of oil is now hovering around thirty dollars per barrel and many companies are now havingRead MoreThe Oil And Gas Industry2120 Words   |  9 Pages The oil and gas industry happens to be the largest industry in the world as it is the singular point of growth for a civilisation. Its importance lies in the fact that it is a fundamental aspect involving every individual’s lives from petrochemical products to transportation, heating and electricity fuels. Edwin Drake in Titusville, Pennsylvania drilled the very first oil well during 1859 and it paved the way to the beginning of the oil industry in America. While Edwin Drake focused on drillingRead MoreIfrs And Oil And Gas Industry985 Words   |  4 PagesTracy SzeWai Yim Professor. Karen (Jingrong) Lin Advanced Financial Accounting - Sec 061 June 20, 2016 GAAP vs IFRS in Oil and Gas Industry (Exxon Mobil vs Royal Dutch Shell) Oil and Gas industry is not a stranger in the international market since everyone around the world has a certain level of demand on Oil and Gas. Therefore, different oil and gas companies are founded across the world and a lot of them have gone global. Becoming global has enlarged the companies’ revenue but also complicatedRead MoreIndustry Analysis : The Oil And Gas Industry976 Words   |  4 PagesIndustry Analysis: The oil and gas industry is expansive and rather complex industry consisting of oil, fossil fuels, natural gas, oil and green energy sources. Combined the above sources make-up 32% of total energy consumed worldwide. Three sectors define the value chain of the oil industry; Upstream – which is the process of exploration and extracting the natural resource, control storage and entail refinement process. Midstream – consisting of distribution by pipelines and large quantity shipments

Liberal Arts Study Free Essays

William Cronon states in his article entitled â€Å"only connect†¦Ã¢â‚¬  the goals of liberal education that liberal education is founded on the virtues of aspiration towards the development and growth of human potential for the services of human freedom. This simply means to say that liberal education is a way by which a human being is released and brought to a place where he or she can fulfill their utmost potential. Liberal education and the study of liberal arts, for that matter, is a way of life and not simply a form of education adapted by institutions. We will write a custom essay sample on Liberal Arts Study or any similar topic only for you Order Now It involves passion and girth of knowledge. It accounts for a broad understanding of various kinds of knowledge that is needed for the holistic development of an individual. In today’s society, however, is the study of liberal arts truly needed? What is the importance of studying liberal arts? One of the most important aspects of liberal arts is in the fact that it encompasses the humanities. The study of liberal arts then encourages the study of the humanities. Why is this important? What makes the humanities essential in the progress of humanity, in the continuation of an individual’s daily life? There are many skeptics, especially in this age of unending quests for money and luxury, who believe that the study of the liberal arts, in general, and of the humanities, in particular, is only for those who have time on their hands; only for those who have no plans in contributing to the fast-paced development occurring all over the world today. However, this thinking is wrong and misled in many ways. Before one can understand this, however, one must first be able to understand what the humanities are. According to A.S.P. Woodhouse in his article The Nature of Humanities, humanities is a field of study that reverts the attention or the quest for knowledge on man. It puts the focus of attention on the life of man. Other definitions of humanities state that â€Å"The essence of the humanities is a spirit or an attitude toward humanity.† (The Humanities in American Life, 3) The humanities, then, is exactly what its name implies, the study of humans, of human life, of human way of life. However, this is very broad. If the scope of the humanities is humanity, this would indicate a near impossibility in studying it in its totality. This is why the development of the study of humanities has involved the sorting of the discipline into different interrelated fields. These include, but are not limited to, literature, art history, music history, cultural history, philosophy, dance, theater, arts, and film. All the disciplines related to humanities and through which it is studied are all centered on human values, beliefs, emotions and also the way these aspects are portrayed through the creativity of humans. (Witt, Brown, Dunbar, Tirro, and Witt, xxvi) It is clear from this description that the humanities are different on many levels from fields of knowledge such as the natural sciences. The sciences include the observation of the world we exist in. It entails creating assumptions, collecting data, and trying to create theories and laws to explain the behavior of the data collected. The humanities, the arts, on the other hand, begin with the very things that are considered irrelevant in science. It starts with the intangible things that are formulated by the creativity and imagination of a human being. The humanities begins with the world man created for himself and only then progresses to the world that is seen with the physical eye.(Frye, 23) Even from this basic explanation of the difference between humanities and science, one can see that there is no point of comparison. Both fields of knowledge are concerned with different aspects of reality. Even with this basic truth, the importance of studying the liberal arts, of studying humanities is seen. As much as there is a need to study science and to explore the world in the way that scientists wish to approach it, there is also a need to study the liberal arts and humanities and the opposite way by which humanists approach the world. It is, quite possibly, through the intersection of the approaches of both bodies of knowledge that true reality can be understood. However, there is another reason for studying the liberal arts and the humanities. It has been studied by scientists that the human brain is cleft into two. These two hemispheres are in charge of two different aspects of human behavior. The left hemisphere is said to be important for sequences, literalness, and analysis. The right hemisphere, on the other hand, deals with context, emotional expression and synthesis. The left brain has been commonly related to the sciences while the right brain has been related to the humanities. Daniel Pink in his article Revenge of the Right Brain stresses the importance of developing the right brain. He indicates that the world is in overdrive to stick to the sciences, to emphasize the development of the left brain. Computer savvy individuals are held at high esteem. Mathematicians are considered to be of top caliber in the human race. However, he points out that the future is not geared towards a simple understanding of numbers and figures. He emphasizes the need to go right, to develop the capabilities of the right brain. Individuals with the ability to create, to synthesize technology with the development of humanity, and to innovate new ways of thinking are needed. There is, therefore, a need to stretch out further than we have dared to go. The success and the development of mankind is not just in understanding the world he or she lives in but also in being able to interact with it creatively. Being a liberally educated person, says William Cronon in Only Connect, means being able to connect with the world and to interact with it in new and creative ways. This brings one to understand that, indeed, the humanities and the sciences are not separate or battling fields. In fact, the two are interrelated and should be used together for the betterment of society. In fact, without the general knowledge of all, both are indeed already converging in areas such as biomedical research, application of microprocessing and computer technologies, conduct of government, arms control, and utilization of natural resources. These are only a few of the many fields where both humanities and science are needed because of their very nature as fields with social and ethical aspects. (The Humanities in American Life, 6) It is thus clear that as much as society today emphasizes the need to develop the study of the natural sciences, it should also encourage the continuation and the development of the study of the different liberal arts and humanities. Although it is clear that there is a need to interrelate the two bodies of knowledge, the need to study the liberal arts and humanities is not simply based on the fact that it contributes to the developments of science. Science is said to be a study engaged in the constant gathering of information. It involves the steady accumulation of data about the world in which man moves and grows. The liberal arts and humanities on the other hand are unorthodox with regards to the view of education as an addition of knowledge one on top of the other. This is because the liberal arts and humanities are concerned with creation. They involve processes of visualizing the future, of imagining the ideal, of creating in the mind the concept of a society and world to be hoped for. The humanities involve the study and the understanding of the culture and the cultural contexts of mankind. (Witt, Brown, Dunbar, Tirro, and Witt, xxvi) It puts things in perspective because, as the initial definition stated, it focuses on the human life. The humanities, then, involves the aspects of life and reality that are not covered by science. These are just as important, and perhaps at times more important, than the fields science handles. This is evidenced by the fact that both fields of knowledge are interrelated. This is evidence by the fact that both approach the study of life from opposite sides. This is what renders the study of humanities and liberal arts important. A.S.P. Woodhouse in his The Nature of Humanities stated, If the humanities are indeed normative, if they mold the mind and sensibility of the student and bring an accession of wisdom, it is by virtue of their subject matter, of the ideas which they present or evoke and the experiences to which they give him entry; and these ideas and experiences achieve their full effect only as they are examined critically, evaluate, and by the student made his own. This shows that the study of the liberal arts and the humanities is essential not only in the fact that its main subject of study is important. An education in the liberal arts teaches an individual to think outside the box. It teaches him or her to become a critical thinker. The world is no longer simply a place of dates, names, theories, and laws. It becomes a place of endless questions and unlimited answers; answers that can be wrong, right, or somewhere in between. The human being becomes someone with the capacity to reject or accept the validity of everything occurring around him. More importantly, man becomes someone with the capacity to create, change, and redefine the world in which he or she lives. The liberal arts and humanities empowers man and makes him the center of his world. It also humbles man, placing him in a world that continues to provoke thought, emotion, and exploration. Works Cited Commission on the Humanities. The Humanities in American Life: Report of the Commission on Humanities. Berkeley: University of California Press. 1980. Cronon, William. Only connect†¦the goals of liberal education. The American Scholar, 67(1998) Frye, Northrop. The Educated Imaginaion. Bloomington London: Indiana University Press. 1974 Pink, Daniel H. Revenge of the right brain. Wired Magazine, 13(2005) Retrieved 29 March 2008 from http://www.wired.com/wired/archive/13.02/brain.html?pg=1topic=braintopic_set= Witt, Brown, Dunbar, Tirro, and Witt. The Humanities. 7th ed. Jean Woy. Berkeley, Boston: Houghton Mifflin Company. 2005. Woodhouse, A.S.P. The nature of humanities. In Encyclopaedia Britannica. 1989. How to cite Liberal Arts Study, Essay examples

Spencer Hood free essay sample

Spencer Hood1/8/2018English 9Mr. RobersonGreat Gatsby Paper When it comes to morally ambiguous characters The Great Gatsby by F. Scott Fitzgerald does not fall short. This being said the character who stands out the most is Daisy Buchanan. Daisy is wife of a man named Tom Buchanan who is a friend of the narrator of the story Nick Carraway. Daisy is identified as a morally ambiguous character for a couple of reasons those being Daisy is cheating on Tom with Gatsby, she let Gatsby take the blame for murder of Myrtle Wilson, she is introduced as a sort of perfect figure and Gatsbys love however he finds out she is merely another human. All these examples have a conflict and makes it hard for someone to identify her a purely good or purely evil.Daisy is cheating on Tom with Gatsby which on its face may seem like just a care free affair which would be considered wrong and bad conversely it could be seen as a way for Daisy to get back at Tom for cheating on her with Myrtle which she had found out about. We will write a custom essay sample on Spencer Hood or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page While affairs ae generally considered wrong and a bad thing to do one might understand it more if she was doing it as perhaps revenge of a way to get back at him and make him feel bad. Having said that this may confuse the reader as to the morality of the character and it may further confuse them to the outcome of the book as a whole. He nodded sagely. And whats more, I love Daisy too. Once in a while I go off on a spree and make a fool of myself, but I always come back, and in my heart I love her all the time. (Fitzgerald, 131). This is a quote that perhaps exemplifies the point above where you see Tom start to become more emotional or guilty which plays a part in deciding the morality of Daisys actions. Daisy is driving with Gatsby back to his home on West Egg when Myrtle gets out in front of the car because she thinks that someone else is driving that she would like to talk to. Daisy does not slow down and ends up hitting myrtle and killing her on the spot. She quickly continued to drive and never looked back. Gatsby decides to take the blame for the crash and decides to say he was driving as evident by this quote. But of course ill say I was (Fitzgerald, 143

My Life Journey Sandra Reynaga free essay sample

My name is Sandra Reengage Im twenty seven years old, Im a mother of two phenomenal boys that I totally love with all me heart. Im also engage to a wonderful person that means the world to me. Im originally from Los Angels California; my parents are Mexican so that makes me Mexican American. I come from a big family of nine siblings; Im the second person in my family to go to college. My goal is to become a social worker and provide for my family, I want my children to be proud of me and follow my steps that would be my dream to see my kids go to college and achieve their goals.I have a wonderful family that supports me on everything I do; I was raise on a very poor side of Los Angels California my parents always taught us how to be independent and work hard for our goals in life and never give up. We will write a custom essay sample on My Life Journey: Sandra Reynaga or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page When I was young my parents gave my siblings and I frequent speeches about the importance of perseverance. What surprised me as an adult was how much they lived their never give up message toward us, when we needed them the most. And thats the same good example I want for my kids to follow.I will now move on and continue with the journey of my life. Im a very simple woman I say simple because I dont ask for much only for what I work hard for and achieve with my hard work and effort. Im currently a student at Fresno City College Im studying to become a social worker. Throughout my years without school, I had made It my goal to go back to school and gain as much knowledge of my peers and follow my goal. The start of college came; I was nervous but with this nervousness came an overwhelming sense of excitement and curiosity that was aching to be explored.College Is not only about learning in the classroom, but also learning outside the classroom. The reason why I decided to attend college Is because of so many reasons one of them Is for my family I want to be able to provide for them. I want a better future and going to college Is a really good way to go, Its pretty relevant. Also my boyfriend helps and supports me with everything he always gives me phenomenal support Im so fortunate to have him In my life. Now that I have Introduced myself and said part of my life Journey.I will focus and learn from your knowledge that you will present to us In class. I will also endeavor to complete this task by deadline and earn good grades. I know It wont be an easy battle, but I sure know that every single second of me studying for a new career In my fife would be absolutely worth It. With the support, and love that my family gives me and faith everything Is possible I consider myself a fighter and a survivor, I know Ill be okay and triumph through this Journey that has Just began.My Life Journey: Sandra Reengage By candidate worker. Throughout my years without school, I had made it my goal to go back to of excitement and curiosity that was aching to be explored. College is not only about decided to attend college is because of so many reasons one of them is for my family I want to be able to provide for them. I want a better future and going to college is a ally good way to go, its pretty relevant. Also my boyfriend helps and supports me in my life.Now that I have introduced myself and said part of my life Journey. I will focus and learn from your knowledge that you will present to us in class. I will also endeavor to complete this task by deadline and earn good grades. I know it wont be an easy battle, but I sure know that every single second of me studying for a new career in my life would be absolutely worth it. With the support, and love that my family gives me and faith everything is possible I consider myself a fighter and a survivor.

Optical Fiber Corp Case Analysis Essays

Optical Fiber Corp Case Analysis Essays Optical Fiber Corp Case Analysis Essay Optical Fiber Corp Case Analysis Essay Case Analysis: Optical Fiber Corporation Introduction Optical Fiber Corporation (OFC) is a financially successful, albeit relatively small manufacturer of multimode optical fibers. The company was founded in 1990. The founders were able to enter the market largely on the basis of acquiring patent licenses from larger optical fiber firms. These licenses restricted competition between the entities and provided OFC with instant access to optical fiber technology. In return, OFC’s customer base is limited by the license agreements and royalties of 7% on sales of licensed products (recently renegotiated to 9%) are paid to the licensors. Despite these handicaps the firm has grown in size and profitability. OFC makes several types of multimode optical fiber including specialty niche products they have developed outside of any license agreements. All customers are cable manufacturers that convert the fibers to optical fiber cable. Three such firms account for over 70% of OFC’s revenues. Focusing on customer service, quality and product design and process improvements has proved a winning business model to date. OFC now faces a variety of challenges including the expiration of many of the patents that afford most of its profits. This raises the real possibility of new competitors in the market. Further, while in the past multimode and single mode optical fibers have generally been used for data communications and telecommunications respectively and as such were not in direct competition with each other, the advent of cheaper manufacturing processes for single mode fibers coupled with their inherent ability to transmit data more efficiently over longer distances may make them a more appealing choice for some of the uses that historically have favored multimode fibers. OFC is at now at a crossroads where they must decide if they are to stay in the multimode fiber business only, begin producing single mode fibers as well, or even enter the cabling business with a forward integration strategy. Competition in the Optical Fiber Industry The optical fiber industry is perhaps best considered as two industries that are closely related, the multimode fiber and the single mode fiber industries. The multimode industry in which OFC specializes is very competitive. The United States’ 2001 total optical fiber market was approximately 3. 5 million kilometers only 330 thousand of which was multimode. The value of the multimode market was $65 million that year, only a fifth that of the single mode market. Within the multimode market and a number of fiber manufacturers. The main rivals for OFC are the two licensors to whom they pay royalties. These firms are considerably larger and have greater resources with which to compete. Further, they have a competitive advantage in that they are the recipients of royalty payments rather than the firm making those payments. Also they are in a position to control the extent of OFC’s market penetration at least with respect to their licensed products. OFC has responded by creating high quality products and providing exceptional customer service. In addition, OFC has made improvements to the basic design of some of the licensed fibers making them, in a real sense new products. The R and D department at OFC has also been successful at developing new and less expensive manufacturing processes, which has helped to offset the added overhead of the royalty payments. Finally, OFC has developed specialty fibers with medical, aircraft, aerospace and extreme environment applications. These new fibers will not be subject to royalty payments, competition from new entrants until patents expire years in the future, and generally afford higher profit margins than other optical fiber products. New entrants to the market are a threat to OFC and all other fiber producers. New firms must contend with the high capitalization costs of this technologically demanding and exacting industry. One of the costs of optical fiber production is the R and D required to bring successful products to market. Between 1999 and 2007 the patents for many of the basic fibers produced by OFC and its licensors will expire. New firms entering the market will be free to produce the products once protected under those patents without having incurred any R and D costs. These firms will also be free from royalty payments to licensors or any restrictive covenants such as those under which OFC operates. The industry in general, and OFC in particular, must contend with the purchasing power of its buyers. Optical fiber is converted into optical fiber cable. In the United States there are twenty companies that perform this function. OFC sells over 70% of their fiber to just three. The loss of any of these accounts could be devastating for OFC and places them in a weak position when negotiating prices, at least when the products are those which are readily available from other multimode fiber producers. It is doubtful that switching costs would be high for buyers. Favoring OFC and the optical fiber market are the projections for increased demand for multimode optical fibers at least through the mid 2000’s. Sources of increased demand for multimode fiber are anticipated to include: cable TV, undersea cables, local area networks (LAN) as well as general data communications growth such as computer uses. As noted the single mode optical fiber market is much larger than the multimode market. It too, is expected to see significant growth over the next several years. Single mode fibers have the advantage of efficiently transmitting data over long distances, faster transmission rates and other desirable optical properties but until recently have been more expensive to produce. The advent of cheaper production methods will allow single mode fibers to enter markets that were once dominated by multimode fibers. Production of these fibers requires expensive specialized manufacturing equipment and a significant commitment to R and D. The industry includes one of the OFC licensors. Substitute products for single mode fibers include microwaves, and satellites for telecommunications. Impact seems limited. Copper wire can be used as a substitute for the fiber-to-home and fiber-to-curb applications of either multimode or single mode fibers but by the mid 2000’s the lowered cost of production of single mode fibers will likely make this the preferred choice for these functions. Finally, it should be noted that suppliers are unlikely to exert competitive forces on the fiber optics markets. The materials used in the production of fibers are commodities of low value such as glass, certain gases and oxide particles. OFC Strengths OFC has many strengths. The firm is financially strong with record sales and earnings for the last year as well as increased manufacturing capacity. Furthermore, there was a $20 million backlog for optical fibers in the last year and orders are increasing. There was net income of $6. 1million on revenue of $48. million in 2002. The Quick Ratio, a measure of a firm’s ability to meet short-term debt obligations (Current Assets – Inventories)/Current Liabilities = ($31. 0m $6. 6m)/$12. 5 = 2. 0 is very solid. Return on equity (Net Income/Equity) = $6. 1m/$44. 0m = 13. 9% is also very impressive. OFC has developed new specialty products for medical, military, commercial aircraft, aerospace and severe environment uses. These are likely to receive patents and will not require royalty payments and will be protected from competitors for years to come. The firm has a variety of options to confront the challenges of the changing market place. OFC has patent licenses to produce optical cables that would allow for forward integration if they chose to move in that direction. Engineers at OFC have been able to find new ways to produce old products more efficiently reducing production costs. They have also developed adaptations of existing products to create new and unique demands for those products. OFC is in an industry that is expected to enjoy strong growth for at least the next several years. That demand will come from a variety of industries adding stability to the market. The equipment needed to produce optical fiber is expensive and the expertise demanding creating, a relative barrier to entry. Copper wire as a substitute is relatively expensive and as technological advances decrease the cost of optical fibers copper will become a non-entity. Perhaps most importantly, OFC has a strong reputation for quality, service and competitive pricing. OFC Weaknesses OFC is a small company. They were only able to enter the market by virtue of other firms’ products and license agreements. Those licenses have protected OFC from competition but have also limited the scope of its customer base and added significant fixed costs in royalty payments. Royalties will now increase to 9% (after paying a one time $3 million fee) on 85% of sales. Furthermore, while OFC is paying royalties to use these patents new entrants may soon be competing as patents expire. These firms will have essentially no R and D expense and of course no royalty payments potentially allowing them to produce at costs below those of OFC. OFC must also contend with a limited number of buyers. Over 70% of sales are to just three cable producers. The ability of OFC to increase prices to these large purchasers is doubtful. If even one of these customers were lost to an alternative fiber optic producer the effect on OFC could be dramatic. OFC operates in a competitive industry that will become more so with time. Copper wire manufacturers will turn to optical cable production to stay relevant. Overseas producers, already sources of competition to OFC, are likely to play a larger role in the future. Finally, OFC’s success has been built on quality, service and innovation. One or more competitor can potentially offer all of these. OFC’s Core Competencies OFC manufactures multimode, high quality optical fiber for cabling companies that convert that fiber into cable for a variety of data communications uses. The firm has a reputation for low prices and excellent customer service. Much of their success can be attributed to their R and D program, which has developed cost saving production technologies as well as product innovations. More recently, OFC has shown itself to be an innovator, developing entirely new multimode optical fiber products that fill a variety of unique niche functions. To continue producing and selling multimode optical fiber successfully, OFC needs to prepare for increased competition as patent protections expire. As new entrants begin producing many of the higher volume OFC products, likely at lower cost given their lack of R and D and royalty expenses, OFC will need to spend additional resources on developing decreased costs of production if they are to continue selling those products profitably. They will need to maintain their focus on quality and customer service. In part that will require continued product testing. They may wish to explore, however, if testing 100% of products as is current policy is necessary or if testing samples from each batch would serve as well and save money. OFC will need to continue to support R and D to develop new products and patentable improvements on existing ones. Options Available for Growth Pursuit of Niche Markets OFC has already demonstrated an ability to develop marketable niche multimode fibers. Previously created are fibers able to withstand high radiation nvironments for nuclear reactor and military applications, a fiber that can tolerate deep underwater submersion and a third tolerant of high heat conditions. They have also successfully experimented with a fiber capable of transmitting UV light and another with unique medical and scientific uses. To continue their development program for specialty fibers will require annual R and D spending increases of $400,000 and an additional annual expenditure for three new staff totaling $325,000. Outside firms can be hired to handle sales for 10% commissions. When sales volumes are adequate, salaried OFC employees can be used instead. The calculation as to when this makes financial sense for the firm is simple; when 10% of sales exceed the salary and benefit expenses of the needed in-house sales force then sales should become an OFC operation. The advantage of niche products is the lack of competition and relatively higher margins. Develop Single Mode Fiber Capacity OFC could choose to enter the much larger single mode fiber market. It is estimated that this will require a capital investment of $4 million for new plant and equipment. It will take a year for the new facilities to be operational. There will also be a reported one time R and D expense of $2. 5 million. This is a first year expense so it cannot be capitalized. It can reasonably be assumed that there will be additional R and D expenses going forward although presumably these would be considerably lower than the initial expense. Entering the single mode market places OFC in competition with larger firms than it currently faces with greater resources to sell products with thinner margins and would divert OFC resources from their core business functions. Forward Integration A third option for OFC is to produce optical cable. The required patent licenses are available. Two options for this forward integration strategy exist. OFC can commit $5 million in capital investments and plan on spending an additional $500,000 annually for R and D or they can simply purchase a cabling company for an estimated $10 – 15 million in capital expenditure. There is currently an excess supply of cable and cabling firms and several are in danger of bankruptcy and so an acquisition should be feasible. Forward integration raises several concerns. Regardless of the approach taken, entering the fiber optic cable business will be expensive for OFC. This is a market that is already experiencing an excess of capacity so it can be assumed that at least for some time to come profits in the cabling industry will be squeezed. This is not a core business function of OFC but to pursue cable production will be so expensive as to necessarily draw resources away from some of the firm’s core activities, activities that are likely to be more profitable and entail less financial risk. Finally, one needs to consider that all of OFC’s customers are cable producers. If OFC enters this market they will become a competitor of their customers. It seems highly probable that at least some of these optical fiber buyers will respond in a retaliatory manner and switch to alternate suppliers. Most of OFC’s products are not unique and can be supplied by their licensors. The three large buyers would seem in a particularly strong position to adversely respond to any entry into the cabling market by OFC. OFC Policy Statement In choosing a direction for the future growth of OFC several considerations should be kept in mind. First, OFC has been successful in large part because of its focus on quality. Any efforts at growth should not come at the expense of producing high quality products. Second, the firm must continue to provide a high level of customer service. This should include responsiveness to customers’ needs for new products and product features when those offerings are commensurate with the firm’s vision, available or attainable expertise and when economically viable. Finally, the firm should continue to fund R and D efforts to allow for a continuous pipeline of new products and improvements to existing ones in an effort to maintain a unique competitive position in the market. OFC has been successful in competing against larger firms by avoiding head to head competition. Initially this was accomplished through license agreements alone. Later, the firm was able to create unique improvements to existing products and processes that gave it an advantage. Most recently OFC has created unique patentable products. These represent three different ways of avoiding direct competition. Despite their growth, OFC remains a relatively small firm in the optical fiber space and should continue to eschew direct competition when possible, realizing that the market is dominated by larger and better-funded firms. Recommendations OFC should stay out of the cable producing business. This market is the least profitable, most expensive to enter and likely to have the lowest return on investment. It is also likely to result in retaliation by current customers and reduced sales. The single mode market is much larger than the multimode market but as a consequence will bring OFC in contact with larger firms that already have the equipment and knowledge base to produce these products. A small firm with limited resources should not leave its core competencies behind to take on firms that are already in place. OFC needs to continue to make niche products whether they are improvements on old multimode fibers or new fibers with unique properties and functions. This firm will never be a big player in the highly competitive optical fiber industry, they arrived too late and don’t have the capital to displace the dominant firms. Given that projections are for most of the increased demand for optical fibers to occur through the mid to late 2000’s OFC may want to watch for an opportune time to sell to one of these larger entities, perhaps a single mode fiber producer to whom the OFC product line would prove complimentary.

The Roots and Backwash of Exxon Valdez Oil Spill Research Paper

The Roots and Backwash of Exxon Valdez Oil Spill - Research Paper Example The Exxon Valdez supertanker was traveling outside normal shipping lanes as it was avoiding ice and after 6 hours of grounding, the ship damaged 8 of its 11 tankers and spilled a portion of its Prudhoe Bay oil cargo (Cutler, 2008).   Massive cleanup efforts by Exxon and the US Coast Guard were immediately started.   Thousands of Alaskan residents helped in the cleanup efforts and eventually after about three years, the US Coast Guard declared the clean-up complete (Exxon Mobil, n.d).   The cleanup started in April 1989 until September of 1989 for the first year and went on in 1990 and 1991 during the summer months and some shoreline monitoring in the winter months (Cutler, 2008).   Based on the assessment of the National Transportation Safety Board, there were 5 possible causes of the grounding: 1). The third mate failed to properly maneuver the vessel possibly because of fatigue and excess workload; 2). The master failed to give proper navigation watch probably because of al cohol intoxication; 3). Exxon Shipping Company did not supervise the master and provide rest for their crew; 4). The US Coast Guard did not provide an effective vessel traffic system, and 5). There were no sufficient pilot and escort services (Cutler, 2008).  Ã‚   The environmental and economic consequences of the disaster amount to more than just three years of cleanup; they amount to profits lost, damage to coasts, and other sea and bird life.   These consequences shall now be discussed in detail.   These economic consequences shall cover the ecological cost of the oil spill itself, the economic costs as shouldered by Exxon Company during the cleanup, and the penalties charged against the company for the disaster.  Ã‚  Ã‚   About 3700 to 5800 mammals from 9 different species were affected by the oil spill.   Three hundred direct mortalities were reported for seals while 2,800 mortalities were reported for otters and these deaths were mostly due to the breathing and ingestion of the toxic oil.