Critically assess how e-business technilogies have altered the nature Essay

Critically assess how e-business technilogies have altered the nature of competition within Lloyds TSB - Essay Example Bynolfsson notes that e- Business as it is commonly referred to involve getting services through the electronic medium as well as offering these services through the internet (Bynjolfsson 2000). As a matter of facts, technological advancements often come with both the negative as well as the positive impacts upon its adoption in a business environment. All the same technological applications in e-commerce boosts the ways businesses operate as the work is done more faster using machines than when using human resources making the businesses more competitive in service production . On the other hand machines have ben a draw back to the competitiveness of some companies since they need to keep training their employees on how to use the new technologies which is equally very expensive. Besides machines are prone to making faults and downplays due to mechanical and technological hitches in the curse of their operations, these problems cannot be accounted for by the machines making these bu sinesses to make great losses rendering them less competitive in the business market. Lloyds TSB is a famous insurance firm in Britain formed by the act of parliament in conjunction with the Lloyds’ act in 1871 to oversee the provision of insurance services to the people of the United Kingdom. With the dawn of computers and the introduction of the electronic business, the firm was among the many in Britain to automate their services though online services where their customers would be able to access their services online in an electronic medium. Impact on pricing and profits (P 5 F's) To begin with, the automation of the services provided at the Llyod’s TSB Company has obviously expanded their customer base, one of the very dire needs of all the business companies all over the world which are concerned with profit making. This is because many people are now able to access their services right from their homes and offices or just from wherever they are on earth. Accord ing to Chen the expansion of the customers base is very helpful to the company s it is able to make tremendous profits from this (Chen, 2002). I do not in any way want to dispute this positive influence of technology into the operations of this company but the fact still remains unaltered in that the exposition of the company’s business operations in the world domain with aim to attract more customers and make her services easily accessible to their esteemed customers has as well exposed their business, operations and secrets to the outside world and believe me or not, there are certain repercussions for this. Hackers are able to penetrate and have access to the secrets of the company and use these secrets to mar the operations of the company as far as their provision of services is concerned (Battalio, greene, Hatch and Jennings, 2002). Adams and Yellen asserts that technology has also brought with it various ills with people always trying to illegally access the financial a ccounts of various organizations and use this information achieve their own hideous missions to the detriment of the company (Adams and Yellen, 1976). Online operations therefore in as much as they are beneficial to the company as they expand their network of operation they also expose these companies to external threats from virtually all angles. In order to minimize these illegal accesses therefore the company has to invest so much on the development of their online security measures in order to combat and thwart these illegal

Liberalism Essay Example | Topics and Well Written Essays - 2500 words

Liberalism - Essay Example Liberalim i the culmination of development in Wetern ociety that produced a ene of the importance of human individuality, a liberation of the individual from complete ubervience to the group, and a relaxation of the tight hold of cutom, law, and authority. The emancipation of the individual can be undertood a a unique achievement of Wetern culture, perhap it very hallmark. (Necati , 1998, pp. 447-477) Liberalim alo derive from the practice of adverariality in European political and economic life, a proce in which intitutionalized competition-uch a the competition between different political partie in electoral contet, between proecution and defene in judicial procedure, or between different producer in a free-market economy-i ued to generate a dynamic ocial order. Adverarial ytem have alway been precariou, however, and it took a long time for the belief in adverariality to emerge from the more traditional view, traceable at leat to Plato, that the tate hould be an organic tructure in which the different ocial clae cooperate by performing ditinct yet complementary role. The belief that competition i an eential part of a political ytem and tha4 good government require a7vigorme Oppoiion wa 4all c/nideped drange in eop Edropean c/uft2ia in he Epl9 19th7centUry. (Ne#at( , 19, pp,7447-077) Each nati/N' lHike other polhti"al octrind, lib%0al)m7i hig(ly enitiva 4k tIMe aNd bhpcumtance Each nati/N' liberalim i different, and it ahange in each generation. The hitorical development of liberAlii over recent centurie ha been a movement from mitrup of the taTe' overegnty on the ground that power tend to ba miue, to a willingne to ue the power of government to correct inequitie in the ditribution of wealth reulting from a free-market economy. The expanion of government power and reponibility ought by liberal in the 20th century wa clearly oppoed to the contraction of government advocated by liberal a century earlier. In the 19th century liberal were generally hopitable to the buine community, only to become hotile to it interet and ambition for much of the 20th century. In each cae, however, the liberal' inpiration wa the ame: a hotility to concentration of power that threaten the freedom of the individual and prevent him from realizing hi potential, along with a willingne to reexamine and reform ocial intitution in the light of new need. Thi willingne i temPered by an averioN to udden, cataclymic change, which i ghat et df thE diberal fpnm the7raical.7It i thi ve2y eagern%7to encjurage7ueful ch nge howeve2, that ditingUihe the liberal from 4he conErvativ. (Necati , 0998, pp. 447%477) L BeraL Interna4ional i the w/r(d federat)on /f lIberal political partie. Fo5n$ed in 194 it7ha7becoMe the pre-emInEnt .et/rk fOr 0romotijg liberaliM, trengtheninclib%rah part)E anD for theprmmotion of lhberal de-ocracy arouNd THe7world. Dhere are a .1mber of comMon principle w(ich unite al, liberal partie brom frica, the AmerIca, Aia, and Europe; human rifhT, free7and fair eldction and muhtiparty-democracy, nciah judice, tolerancd, ocial market econgmy, free tr!de, environmental utainability and a trong ene of international olidarity. Naturally in the application of thee principle in different national circumtance there i diverity among liberal partie. All member adhere to the organiation Manifeto'. (Necati , 1998, pp.

Innovation in Engineering Technology

Innovation in Engineering Technology Innovation in Engineering Technology India is known in the world for its manpower in the field of scientists and researchers. UNESCO in 2003 emphasized that â€Å"Education in a globalised society should ensure equality of access and request cult al diversity as well as national sovereignty. Globalization and internet has given a new face to our education system. The need of the millennium is to produce trained, responsible and well informed people committed to working for the betterment of the country’s future. It is a proven fact that â€Å"Engineering Education† forms the foundation on which future of the country is dependent upon. The main aim of this journal is to highlight different ideas of innovation in the field of engineering The first idea suggested is changing the education scenario. The main problem in our education scenario is the lack of qualified teachers, infrastructure, research and training-learning process. No doubt steps are being taken to overcome this problem. Now nineteen percent of the budget is allocated for education which used to be 7.7 percent in previous years. Moreover in India only twelve percent students go for higher education after completing their secondary education which is very less than the number in developed countries in which the number is around 70 percent. Another main alarm is the vocational training that needs to be given to a large no of people in our country. For providing excellence in teaching, research activities should be introduced. It is the need of every teacher. It encourages new ideas and innovations and helps in making the educational atmosphere enthusiastic. The education imparted by institutions will not be efficient, unless they adopt research and innovation. Worlds standard Engineering education include research and patenting including IPR related issues. These things enable students to learn skills of innovation and use these new technologies for solving current problems, which is very much essential to live in such a competitive world. Promoting meaningful, engaged learning with the precise use of new technology provides students the chance to interact with the wealth of resources. India is a place with bunch of manpower but lacks in teaching standards and resources due to which the economic growth and literacy rate of India is decreasing at a very rapid rate and the development of the country is almost negligible every year. Education institutions are facing a lot of challenges in providing us with cream students i.e. students who can succeed in this competitive world because of lack of qualified resources and subjects which make the students capable in the present hour. Some of the suggestions for improving the quality of education is firstly we need to change the scenario of education. Qualified teachers should be there in colleges with proper infrastructure and facilities. Moreover in addition to this research activities should be introduced in the studies to make the students capable for worldwide competition. Government should also help the institutions by providing funds for the same and encouraging students to go for higher studies for the future of the mselves and our country. Effective Usage of Libraries through Internet-A View Point Library is the place where one could find all the information needed for any use. All over the world they play a vital role in our life and for our higher education. Internet plays an important role in providing the information for its user in a larger way. One of the newest technology introduced in the libraries for finding out data is the use of computers. Though with this technology information is readily accessible to the users, many a times the information provided is not relevant. Because of this problem many users are not satisfied with data provided on internet. Due to this problem the main objective of the library is not satisfied. In this I am going to discuss some of the problems and solutions for the same. There are a number of users who use the library daily to search about one topic or the other. There are users from different categories and different age groups. These include school and college going students, graduates, scientists, doctors, planners, library staff, and academic staff etcetera. Nowadays people prefer surfing net for the information they require then finding that in books and journals by reading. For this purpose a large number of search engines are available. Whenever users enter any required keyword, search engines show all the queries related to that keyword from their database. Around one lakh links are shown for a single query. But the main dis-advantage of finding information on the internet is that in spite of a large number of links provided to each query, not even a single link is relevant for the user. This may be because for each query the search engines try to find out all the information corresponding to that query. The main advantage of using computers in library was time saving but due to this problem, it has turned into the main disadvantage. Now a lot of time of the user is spent in locating the exact information from the available web pages. The main solution for the above mentioned problem is the classification system. All the information provided on the internet should classify under one area or the other. By using this technique users will be provided with only the relevant data instead of a bulk of waste. Hence surfing internet will provide only relevant data to its users. This technique can also be integrated in search engines. They will generate unique classification number corresponding to the users query and search for that particular information equivalent to that number on the internet. Technology has taken a new face and the necessities of users are changing as per the advancement in the technology. So it is the need of hour to integrate the new technology for the ease of users. Seeking the disadvantage of this new technology we need to rectify it so as this technology proves to be a boon for. Also all the main objectives of libraries are satisfied and users gets information easily and at very fast speed. Challenges in achieving excellence in technical education The main key behind success and development of a society is education. Our country is developing very fast and is also far away from being called developed. India has improved technologically and economically in the field of agriculture, providing nuclear power, space technology, and defense etcetera. Mobile technology is growing tremendously in India. It is the need of the hour that the present generation i.e. the youngsters should be aware of the talents, aptitude so that they can create wonders in their field of interest. Moreover we need to unleash their creative potential by helping them do what they want to do. Due to complete transformation in the technology, there has been an increasing expectation for higher education in order to level up with the present technology. Unqualified and dearth of faculty is responsible for the loss of quality education. The graduates passed out from such institutions have to sit unemployed for large time increasing the unemployment rate of the country. Against this problem the National Knowledge Commission (NKT) has taken steps in order to build excellence in educational system so as to meet the knowledge requirements of 21st century and to increase India’s competitive knowledge and also to improve the management of institutions under Intellectual Property Rights. The center point of quality education and learning is teachers. Nothing can ever replace a good teacher. The core of our engineering education policies should be teacher training and retention. Other thing that effects quality education is capacity and competence building. India has got second position in Global Innovation Efficiency index. India’ s labor force is growing at 2.5% per annum while the employment growth rate is 2.3% only. After teachers it is the role of education institutes in shaping our country’s future. Maintaining international quality of engineering institutions in India is the main aim of ISTE. Under the financial assistance from AICTE innovative programs like faculty development are started by ISTE at express rate. National Mission on Education through Information and Communication Technology (NMEICT) is a mission initiated for providing connectivity, low cost computing device and valuable contents to all the higher education institutes in India. Proper definition of innovation should be taught to the students as the commercialized way of solving problems with advanced technologies. The global leader for research was India with 159 research areas in the five year span of 2006 to 2010. Engineering education in our country should be designed in such a way so that the engineers can fight with the trained manpower in solving technical as well as social problems. India has got a positive growth rate in the beginning of year 2012 that to with a very rapid rate. It is the most favorable place for the Multi National Companies (MNC’s) to invest. The rapid rate of increasing urbanization and industrialization is acting as a catalyst towards the growth of India. It highlights how all the things stated above can be bring to action in order to meet the challenges faced by engineers in our country. References: R. Murugesan (JANUARY-mARCH 2013).The Indian Journal of Technical Education. Challenges in Acheiving Excellence in Technical education. 36(1), 1-5. N. R. Shetty (JANUARY-mARCH 2010).The Indian Journal of Technical Education. Innovation in Engineering education. 33(1), 15-19. N. Rajesh (April-June, 2013).The Indian Journal of Technical Education. Effective Usage of Libraries through Internet-a View Point. 36(2), 60-62.

High Blood Pressure :: Health, Cardiovascular Disease

High blood pressure is considered one of the highest causes of morbidity, one of the main leading causes for cardiovascular disease, and social global burden health risk factor. In addition to the high cost burden to the global health service providers. (referances) Data from World health organization2002, estimated that high blood pressure was the cause of death for more than 7 million individuals every year , affecting almost one billion of world population and responsible for 11% of all diseases burden in industrial countries.( WHO,2003) (BHFSD,2010).in industrial countries high blood pressure estimated to be the case of death for more than 20% of men and almost 24% of women (WHO.2002b) Kearney et al (2005) reported that in 2000, 972 million individuals were hypertensive which account for 26.4% of world population, of which 333 million in developed countries and 639 million in developing countries. It was affected 26.6% of men and 26.1% of women of general population. This study predicts this number to soar by about 60% in 2025 to reach a total of 1.56 billion. This elevation expected to be 9% and 13% in both men and women respectively. They found the highest prevalence rate of high blood pressure in women was in former socialist economies region while for men was in Latin American and Caribbean region and the lowest prevalence was in â€Å"other Asian and islands† region for both men and women. Elevated blood pressure contributes to (62%) of cardiovascular diseases, for example it attributes to 54% of stroke cases and 47% ischemic heart disease globally ( (Lawes et al., 2008 eup fix), it also responsible for 50% of heart failure burden in world. Furthermore the INTERHEART study estimated that having a hypertension was the reason for 25% of heart attack cases in both central and Eastern Europe while it represents the same reason for 22 % of Western Europe. Individuals who have an elevated blood pressure are suspect to have heart attack twice more than normotensive. (Yusuf et al., 2004 or British heart stast) In terms of disability –adjusted life-years, high blood pressure is come as a third cause after underweight and unsafe sex by affecting around 64 million. (Ezzati et al, 2002) .High blood pressure was estimated to be attributable to causing 9.3 % of disability in high income countries and 5.6% of disability in middle and low income countries.

Hydraulic Fracturing Essay

So many people these days are stuck in the ways of their own opinions. They believe the first thing they hear on a topic and stick with it. So close-minded that they won’t even listen to someone else’s opinion before they begin to argue. A popular topic that people are stuck on is hydraulic fracturing, also known as fracking. Either people think it’s great or they hate it. Before you have an opinion on it, what exactly is this â€Å"fracking?† â€Å"Fracking, or hydraulic fracturing, is the process of extracting natural gas from shale rock layers from deep within the earth†¦ Horizontal drilling (along with traditional vertical drilling) allows for the injection of highly pressurized fracking fluids into the shale areas† (What Is Fracking). When fracking fluids are injected it makes it easier to get to the natural gasses embedded in the shale layers. Crews will work on a well for up to a month, going over a mile deep into the surface of the Earth (What Is Fracking). Fracking isn’t something that’s only going on in other countries. It’s happening here on our home turf, and our neighboring states have been huge targets. The Bakken area and the Three Forks formations are affecting us the most. The Bakken field is in North Dakota, and yes, the Three Forks formation is the Three forks we’re all thinking of in our beloved, eastern Montana. The Bakken area covers nine counties in western North Dakota and three counties in Montana. North Dakota is the second largest oil producer in the United States after Texas (Grunewald and Batbold). From 2004 to 2012 North Dakota went from 15 active oil-drilling rigs to 180 active rigs. While we jumped by over 165 rigs, Texas jumped from 500 to 900 rigs in those same years (Grunewald and Batbold). These oil fields have yielded huge economic benefits. Although some people may disagree, fracking has significant economic benefits. Before fracking came about, it was very difficult to get to the natural gas and oil hiding in the layers of shale over a mile below the  Earth’s surface. Now we have the technology making it possible to retrieve the gas and oil that we value so much. Because we can now get to these layers, it has increased employment on our homeland, and our domestic energy companies don’t have to resort to off-shore drilling. Jobs are booming in these fields as more and more wells are drilled. Somewhere around 600,000 jobs have been created since 2002. They expect another 209,000 or so to be created by the year of 2015 (Williams). For every job created in drilling, more than three are created in supplies and service. Williston, North Dakota is a great example of this. So many people are rushing over there to find work that there aren’t enough places for people to live. This has helped in so many ways, new houses are being built so more construction workers and engineers are need. As well as construction, people need food and entertainment so more business need built or remodeled to keep up with the rising demand. Many of the people with fracking jobs are expected to work sometimes up to 70 or 80 hours a week (Williams). That’s two full-time jobs! Because of extensive hours, some companies pay a daily bonus and well over minimum wage. Even making $8.00 an hour for 70 hours with a $50.00 daily bonus, you will earn over $1,000 per week. Plus, many companies are paying room and board for their employees as long as they are working hard. Employment isn’t the only significant benefit from fracking. Another great benefit from fracking is the revenue created from various taxes. The Ohio Oil and Gas Association estimated that the state’s net revenue from the new oil-and-gas tax plan would nearly double, to $2.07 billion over 10 years. They plan to use the revenue by putting half the funds into regulating the industry and capping abandoned â€Å"orphan† wells, with the remaining 50 percent to flow to an income-tax-reduction fund. This would put the total tax cut at an average of around $100 million a year over a decade (Ludlow). Of course as there is with any issue, there are also disadvantages, along with the benefits. Although fracking has some great benefits economically, there are also some disadvantages. One of the biggest issues with fracking is the amount of freshwater wasted. We mix millions and billions of gallons of water with sand and chemicals to shatter the shale. When some of the water resurfaces,  it has been contaminated with chemicals and metals; so it’s no longer usable (Disadvantages). In Pennsylvania over the past three years, over 1.3 billion gallons of wastewater have been produced, that’s enough to cover Manhattan in 3 inches of water (Disadvantages). There is also the issue that the air is being polluted. In 2010, Texas found a 25 percent increase of asthma in young children (Disadvantages). In 2013, California’s Mojave Desert became home to The Ivanpah Solar Power Facility. It is the largest solar thermal power plant in the world. The plant can generate enough power for over 140,000 houses during the peak hours of the day. It’s also believed to reduce carbon dioxide emissions by more than 400,000 tons per year (Ivanpah). It’s not just the environmental concerns that are causing problems, though. One of the biggest economic disadvantages is the problems occurring in the boomtowns. â€Å"In 2005, the Williston Police Department in Williston, North Dakota, received 3,796 calls for service. By 2009, the number of yearly halls had almost doubled, to 6,089. In 2011, the most recent year for which data is available, the Williston P.D. received 15,954 calls for service† (Riggs). Alcohol seems to be the biggest problem for officers in boomtowns. Some say around 80 to 90 percent of their calls involve someone who is under the influence (Riggs). It’s also a known fact that crime is high in boomtowns, probably due to the alcohol consumption and use of illegal narcotics. Another big deal is the amount of prostitution going on in these boomtowns. Cops have a really hard time trying to get around to calls because of heavy congestion, and they probably don’t notice the prostitutes wandering the streets. Everyone has to make their money somehow, though, right? Anyone should be able to make money doing something they enjoy. Everyone is entitled to their own beliefs and opinions. I truly believe in the saying, â€Å"to each, their own!† I really believe that hydraulic fracturing is great for the time being, maybe not in the long run. The amount of unemployment in the United States has dropped significantly since fracking came about. Many people are rushing up there to well-paying jobs, granted the cost of living is high, but it’s not exactly cheap anywhere else is it? Even places like McDonald’s are starting people  out somewhere around $15.00 an hour. That’s nearly double minimum wage. Probably more than some of our parents are making an hour. I think if people are going to be happy going to live in these areas and make the â€Å"big bucks,† that’s none of our business. You’re always going to have the environmentalists who claim it’s only ruining our precious planet. Well, these days it seems as if EVERYTHING is ruining our planet. Nothing is very â€Å"eco-friendly.† I realize that solar power is much better for the environment, but at this point not very many cars can run off of solar power. Yes, some do in a round-about way by running off electricity; if your electricity comes from a solar powered mechanism. Plus, those are the dinky little cars that can’t pull at trailer and haul things to where you need to go. What happens when we drain the sun of its â€Å"magical juices?† Well, we’ll all be dead then because we will freeze to death, so I guess that doesn’t really matter. Why not just kill our planet will big ‘ol diesel pick-up trucks? At least we kill it doing something we love, right? No matter what your opinion is someone is always going to try and get you worked up about it. No one can stand to let people have their own opinions; they always try to convince you that your opinion is wrong and you should believe what they do. Well, all in all hydraulic fracturing has some great benefits and disadvantages. It’s an issue that people will always be hard-headed and stubborn about. So the next time you consider getting into an argument about fracking, before you even start with the argument remember, no matter what, you’re wrong. Works Cited â€Å"Disadvantages†. n.d. The Big Fracking Deal. 27 April 2014. . Grunewald, Rob and Dulguun Batbold. â€Å"Bakken Stands Out In comparison With Other Shale.† Fairfield Sun Times (2014): np. â€Å"Ivanpah†. 2014. Bright Source Limitless. 27 April 2014. . Ludlow, Randy. â€Å"State fracking revenue may not bring tax-cut gusher.† 9 January 2014. The Columbus Dispatch. 27 April 2014. . Riggs, Mike. â€Å"Why Energy Boomtowns Are a Nightmare for Law Enforcement.† 18 October 2013. The Atlantic Cities Place Matters. 27 April 2014. . What Is Fracking. n.d. 27 April 2014 . Williams, Laura. â€Å"Jobs in the Hydrolic Fracturing Industry.† 2014. lovetoknow jobs & careers. 27 April 2014. .

After a Careful Examination of the Arch Communication Inc.

After a careful examination of the Arch Communications Inc. case and the valuation done by the Analyst, we believe that there are following issues with valuation which should be examined very closely – 1) Technicality Error in the preparation of the Free Cash Flow: In the FCF prepared by John Adams: Tax and Change in Net Working Capital items cannot be observed. We may assume that, this was done on purpose since both of these values were accepted as â€Å"0† throughout the forecast period. In the absence of knowledge about the details for tax implications in US and the effect of the expected Westlink Holdings acquisition on existing tax base, we accepted the tax assumption made by John Adams as correct. In normal conditions we need to investigate thoroughly the tax issue and the permitted number of years that loss can be carried forward in US. * We think that accepting the â€Å"Change in Net Working Capital† as â€Å"0† throughout the forecast period is a strong assumption.The negative Net Working Capital (for 2005 Current Assets-Current Liabilities = 33,671-49,172 = 15,501 ) structure may change within forecasted period against to company due to increasing competition. But we still continue with the â€Å"0† ? Net Working Capital assumption of John Adams. 2) WACC Estimate: John Adams used the following parameters/assumptions in his WACC calculations: Rf: 7% Market Risk Premium (â€Å"MRM†): 7% Beta Arch: 1. 6 Borrowing Rate: 11% Eqity/Debt Ratio: 40% / 60% And based on these: Re= Rf+ ? Arch x MRP = 7% + 1. 6 x 7% = 18. 2 % WACC = 0. x Re + 0. 6 x Rd and accepted tax shield from cost of debt as â€Å"0† due to the â€Å"0† tax cost of the company during the forecasted period. WACC = 0. 4 x 18. 2% + 0. 6 x 11. 0% = 13. 88% =>13. 9% * In the absence of details about the ? Arch calculation of John Adams we accepted this assumption as accurate. [ Dear All: Please feel free to comment on Beta and cost of debt assumptions, also on 0 tax assumption in WACC calculation] 3) Terminal Value Calculation: John Adams calculated Terminal Value of the company at year 2005 as $3,568m with 10x EBITDA multiple. Although 10xEBITDA multiple seems close to the existing average EV/EBITDA multiple (the average is 10. 6 for the above 6 companies), this multiple reflects the existing company growth/market expectations. A multiple of 10-12 multiple can used for corporations with high growth expectations but it is unusual and flawed to accept the same multiple for Arch Communication even after 10-years. Normally for mature companies using EV/EBITDA multiple in the range of 6-7 times can be more acceptable. * When $854. m PV of Terminal Value is double checked with the calculation method by Perpetual Growth Rate at the 10th Year Free Cash Flow: 3,568=277. 3(13. 9%-g) => g=6. 118%. Assumption of 6. 12% perpetual growth is both unusual and irrational. * It seems that the discounting formula used for calculating t he PV of Terminal Value seems false. It is discounting 1 more year than the actual 9 years. Hence for discounting the PV of Terminal Value at the Year 2005, it is needed to use the discount rate of 0. 3099. * When a usual market practice was used for the growth in perpetuity (for the calculation of TV) i. . 2. 0% => TV=277. 3(13. 9%-2. 0%) x (0. 3099) =>$722m. instead of $854. 1m. 4) Cash Flow Assumptions: When we check the reliability of the assumptions and the cash flows we observe that: * EBITDA margin is increasing from 36. 2% to 46. 9%. We believe that 46. 9% at a maturing market seems very aggressive. * The book value of Fixed Assets (PP&E and Intangible Assets) decreases to $ 52. 2 m. levels at $ 760. 7 m sales figure. We believe that this seems some problematic for us. a. Whether EV/EBITDA is the right method for calculating the terminal value of Arch Communications Inc.? . If at all EV/EBITDA is the right multiple, is it justified to use a multiple of 10x for valuing the te rminal value when it is assumed that the business has achieved a stable perpetual growth rate? c. Is it valid to use FCF and EBITDA simultaneously in calculating the full enterprise value? The valuation at hand calculates the terminal value using EBITDA multiple and value generated over next ten years using FCF d. Even if the business is not generating any profit at all currently, is it valid to assume no taxes even for the rest of the forecasting period? . Is it efficacious to use a WACC of 13. 9%? Problem: Whether EV/EBITDA is the right method for calculating the terminal value of Arch Communications Inc.? Argument: Since the company is highly leveraged, it may be more prudent to value equity just by using Flow to Equity or levered cash flows. The unlevered cash flows and EBITDA may not †¦(CHOON TO ADD) Problem: If at all EV/EBITDA is the right multiple, is it justified to use a multiple of 10x for valuing the terminal value when it is assumed that the business has achieved a stable perpetual growth rate?Argument: The companies who have achieved a stable growth rate do have EV/EBITDA of 10x by any industry standard. A multiple of 10-12x is used for growing organizations but it is not guaranteed that Arch Communication would be a rapidly growing organization even after 10-years. Even if the valuation using EV/EBITDA is validated – it could only be in the range of 6-7x. Currently, the industry standard is of 10x multiple of EV/EBITDA but that is not guaranteed after 10-years Problem: Is it valid to use FCF and EBITDA simultaneously in calculating the full enterprise value?The valuation at hand calculates the terminal value using EBITDA multiple and value generated over next ten years using FCF Argument: We would also prefer to calculate the terminal value using FCF rather than using EBITDA since the value generated in the next 10-years is also calculated using FCF. We believe that FCF would provide with a better approximation of the terminal value. Problem: Even if the business is not generating any profit at all currently, is it valid to assume no taxes even for the rest of the forecasting period? Argument: FCF is calculated as Problem: Is it efficacious to use a WACC of 13. 9%? Argument: