Midwestern Contemporary Art Case Study Example | Topics and Well Written Essays - 2750 words

Midwestern Contemporary Art - Case Study Example The essay "Midwestern Contemporary Art Case" analyzes the Peter Smith and Keith Schmidt figures in contemporary art. Keith Schmidt has an established track record of success, and without a doubt has established himself as a reliable individual in terms of museum expansion. It follows that it's necessary to establish the chosen direction for the museum's operations. Having joined the board in 1981, Smith had experience with the MCA's operations; furthermore, when he joined the board, â€Å"he began pushing his desire that the MCA would attract more artists and a broader audience†. It's clear that in these regards upon the beginning of Smith's involvement he was on-board with the museum's expansion. Furthermore, knowing Keith Schmidt's track record and understanding that the museum expansion would be a key emphasis, he approved his hiring. While Peter Smith contends that Schmidt has acted without proper care and in a reckless way, another individual at the art center indicated t hat, â€Å"each year, we always ended up with a balanced budget, so I feel that Schmidt acted very responsibly in dealing with fiscal matter†. Rather than truly believing that Keith Schmidt was acting recklessly, the evidence indicates that Peter Smith's disagreements with Schmidt were based more out of a difference of opinion on the direction of the museum. Furthermore, it's noted that the responsibilities of the board members is not management and fiduciary responsibility, but rather to oversee broader matter; these are the responsibilities.

Potential Disadvantages Associated With Refurbishment

Potential Disadvantages Associated With Refurbishment Introduction From reading the chapter on the advantages of refurbishment, you could be thinking that refurbishment is the way to go because of all the positives surrounding it like, the social advantages, shorter time scale, environmental considerations, less money etc. But as we all know, for every argument, there is an up side and a down side. This chapter highlights the potential disadvantages, risks and problems that can occur on refurbishment projects so you can see the other side of the coin. To Refurbish or not to Refurbish ?. A fixed price contract to be constructed by a certain date involves alot of risks. These risks include whether the work can be performed at the agreed price, future price increases, weather conditions during the course of construction, competency of the contractors management, supervisors and workers. (Taggart, 2010) All of these risks and potential problems are taken into account on new build and refurbishment projects. But I will only be looking into the whole area of the potential problems and disadvantages that are associated with refurbishment projects, such as: Problems at tender stage. Added Health And Safety Considerations. Difficulty of locating data which requires investigations Added workload required to upgrade to meet existing regulations Problems involved with old/existing components and practices Extremely difficult to define accurate scope of works and accurate programme. 2.1 Problems at tender stage One of the disadvantages that come with refurbishment projects is the difficulty that can arise at tender stage. New build construction holds an advantage in this area as there are more procurement options available on a new build project than on a refurbishment project. This means that the principal disadvantage that refurbishment projects have at tender stage, is that the clients choice of tender options is limited for a number of reasons which will be stated below. An example of a procurement option that realistically would not be viable on a refurbishment project, would be Traditional Lump Sum Tendering. Some of the reasons as to why this would be an inappropriate method of procurement is as follows: It requires the work to be accurately foreseen and detailed (This is difficult on a refurbishment project as scope of work could prove difficult to predict). It fosters confrontation between employer and contractor (This is an important point as flexibility and good working relations are vital on a refurbishment contract). (Murphy, 2007) Another procurement option, which is not viable on a refurbishment project, is Open Tendering. Even though this option ensures maximum competition, there is the disadvantage that tenders may be received from firms who have neither the necessary financial resources nor the adequate technical knowledge and experience involved. Also other disadvantages associated with this type of tendering are that: There is a lack of control by the client over the competency of the builder he is employing. There is a waste of resources when many firms tender for the same job. (Seeley,1976) Even though there are a few options left for tendering on refurbishment projects, there are 2 main types which principally are better (typically on housing projects), which are (1) Selective tendering and (2) Negotiation with a selected contractor (1) Selective Tendering: This option is mainly referred on projects that are of great magnitude and complexity. But if selective tendering is chosen on a basic housing refurbishment scheme then the number of firms invited to tender should be 3 or 4. (2) Negotiation: This should be the principal option on a housing project because there is less time wasting involved. It also offers advantages as it allows for an early start to be made as less time is wasted at tender stage and also where the contractor chosen has exceptional experience of the scope of work covered by the type of work in question. (Seeley,1976)) This section should adequately describe how the limitation of procurement options at tender stage, is a disadvantage associated with the option of refurbishment. 2.2 Added Health and Safety Considerations Another one of the main disadvantages with Refurbishment is the added Health and Safety aspects, which have to be taken into consideration. The reason as to why the area of health and safety is so important is because, on a refurbishment project there are all of the considerations, which occur on a new build site, for example: Scaffolding Working at heights Danger of electrocution Working with dangerous instruments/ machines Danger of falling objects. Etc But also there are many more considerations, which have to be taken into account on a refurbishment project, which will not occur on a new build project, such as: Removal of asbestos Shoring (although this may be needed on rare occasions on new build contracts to support surrounding buildings). Danger of collapsing of old unstable houses Supporting decaying structural members so as to provide a safe place of work Danger of existing services All of these considerations are added to the general considerations, which means that the health and safety risk is almost doubled on refurbishment projects. I will address these health and safety considerations in much more detail in a separate chapter later on in this dissertation. 2.3 Difficulty of locating data, which requires investigations Another Disadvantage of refurbishing buildings is, the fact that when it comes to refurbishing older houses and buildings it is very difficult to locate data on the existing building which means that many different inspections and surveys must be carried out on the building before any type of works can commence which causes a loss in time and also these investigations and surveys can cost a lot of money to carry out, as the reports of these surveys can determine the scope and nature of the works to be carried out. There are many reasons as to why a survey is required, when a house or building is being refurbished such as: To prepare a measured drawing of the building to enable a scheme for alterations, improvements or extensions to be prepared. To advise on the repair and preservation of a building (including listed buildings). Work to be carried out to satisfy the requirements of the local or other authority, i.e. dangerous structure notices or public health notices. To prepare plans in connection with party wall agreements. This is usually required where alterations to a party wall are contemplated. (Noy, 1997) As you can see from above these surveys require great detail and could take a long time to carry out and also for the results to be drawn up which proves to be a large disadvantage. The procedure, which is involved in a typical survey of a house, is described below. Here is an example of a typical investigation procedure, which would be carried out on a typical 2-storey dwelling house. A preliminary inspection of the whole property to familiarise the surveyor with the type and layout. A detailed inspection of the main roof space and any subsidiary roof voids which are accessible. A room-by-room inspection at each floor level starting from the topmost floor. Inspection of accessible basements, cellars and sub floor areas. An examination of the elevations, including structure and finishes. Inspection of the site boundaries, outbuildings and surroundings. An examination of the elevations, including structure and finishes. Examination and testing of drainage and services. (Glover, 2001) You can see from above that these procedures must be carried out by a very competent and qualified person with an acquired knowledge of old properties and refurbishment techniques. Invariably it could cost you a large amount of money as well as time, depending on the complexity and size of the dwelling house in question. 2.4 Added workload required to upgrade to meet existing regulations. This is another potentially large disadvantage, as there can be a large possibility that the problem of the amount of work that is required to upgrade to meet regulations could cause you a lot of hardship and difficulties on refurbishment projects as there are so many regulations and requirements to comply with, that it could end up costing the client a lot of extra time and money depending on the age and condition of the building. Here, is a list of the main parts of the building regulations, which the building that is being refurbished will have to conform with: Part A- Structure Part B- Fire Safety Part C- Resistance to Moisture Part E- Sound Part F- Ventilation Part L- Conservation of Fuel and Energy Part M- Access for the Disabled Because there are so many parts to comply with, it could prove to be more beneficial to demolish and rebuild a house rather than refurbish the existing building as the costs involved in upgrading the building may result in the refurbishment project spending way over budget, and the client wishing that he had demolished and rebuilt the house rather than refurbishing it. This is why this particular section can prove to be a disadvantage of the refurbishment option. Because of the importance of this section I will be describing the whole area of upgrading buildings to meet regulations in a later chapter in this dissertation. 2.5 Problems involved with old/ existing practices. A large advantage that new build construction has over refurbishment is, because you are totally building a new structure from scratch, there are no problems associated with interaction between old building, temporary works, services and new work as well as having to match existing components with new components. (Murphy, 2007) This may not be a problem when refurbishing newer properties, but for example if you were refurbishing an old house with architectural details such as: old craft processes and old style antique details that are intended to be maintained and restored as well as repeated by the client in the refurbishment project that is to be undertaken, then this will cause many hold ups and time lost on the overall programme as well as much more money being spent because of the following reasons: Old processes such as specialist plastering and antique joinery are very time consuming and costly to reproduce because of the specialist nature of these processes. There are not many contractors around which carry out these types of old crafts which means that you could be a long time waiting. Because of the hold ups in these areas the rest of the project will suffer as a result, so therefore the project could drastically fall behind in time and could also go way over budget. This whole area could prove to be a big disadvantage if you are refurbishing a project under similar restrictions and restraints but these types of refurbishment are very rare unless you are refurbishing a listed building, but I will not be going into detail in the whole area of listed buildings in this dissertation. 2.6 Extremely difficult to define accurate scope of works and accurate programme. In my opinion, this problem is probably one of the biggest disadvantages associated with refurbishment as it affects the project in a lot of different fields. Firstly, when the scope of works and the programme cannot be specifically defined or finalised, then it means that there could be difficulties with regards to tendering and also planning as the contractor does not know for definite, what type of project that he is getting himself into. Secondly, if a particular detail occurs that is different from the planning specifications, then an investigation by the planning authorities may occur, which would directly affect the project. The statement Extremely difficult to define accurate scope of works and accurate programme can be proved by looking at the situations, which affect this problem that are: Late discovery of new circumstances: this is a feature that can occur on any size or type of refurbishment project. For example if you are refurbishing a house and you discover late into the project that you find that some aspect of the project does not comply with standards or regulations, which in turn means that alterations to the scope of works and maybe changes to plans will have to be carried out. Something like this could totally change the programme of the job and also the final accounts. Discovery of unforeseen conditions possible for almost entire project: This problem is another factor that proves the difficulty involved with trying to draw up an exact scope of works and programme. Even though a general site investigation may have been carried out at the start of the project, it is still entirely possible that unforeseen conditions may appear throughout the project. Some of these conditions may include: late discovery of decaying structural members, late discovery of absence of wall insulation,, dpc etc. Late discoveries similar to these are a constant feature of refurbishment work, that add to the problem of producing an accurate scope of works and programme for the project. After reading this section the reasons are apparent as to why an accurate scope of works and accurate programmes are very hard to predict due to the reasons stated above. You can also see how these areas in turn, affect other aspects of the project such as tendering, procurement and the adequate selection of a contractor for a refurbishment project.

Essay --

Under U.S. GAAP, entities can generally recognize revenue when it is realized or realizable and earned. 1. Revenue can be recognized when it is realized or realizable. For revenue to be realized, a company must receive cash or claims to cash in exchange of goods, services, or other assets. Similarly, for revenue to be realizable, the firm’s goods, services, or other assets must be exchanged for other assets that are â€Å"readily convertible to known amounts of cash or claims to cash† (605-10-25-1). This means that the entity’s assets were not exchanged for cash or claims to cash, but instead, for another company’s assets, such as short-term investments and government securities. 2. Revenue can be recognized when earned. Entities can earn revenue if the firm has â€Å"substantially accomplished what it must do to be entitled to the benefits represented by the revenues† (605-10-25-1). For example, when companies substantially completed (a) provision of professional services, (b) delivery or production of goods, or (c) other activities that constitute its ongoing major or central operations, revenues is earned. Issue 2 (â€Å"Bill and Hold†) Question: One of the issues faced by TerraSure relates to revenue recognition of finished goods that have not yet been delivered to customers due to inadequate storage space in customer’s warehouses. TerraSure has engaged in two different methods to deal with this situation. With the first method, TerraSure segregates the inventory within its own finished goods warehouse. In the second method, TerraSure ships customer’s inventory to a third party warehouse, where customers directly pick up their inventory. Background: Regarding â€Å"bill and hold† inventory, the SEC Staff Guidance states that these ... ...ordance with the terms of the arrangement, has been delivered or is available for immediate and unconditional delivery. 3. The license period of the arrangement has begun and the customer can begin its exploitation, exhibition, or sale. 4. The arrangement fee is fixed or determinable. 5. Collection of the arrangement fee is reasonably assured (926-602-25-1) Responses: Since TerraSure does not allow its customers to show the films until after its promotional activities begin, it cannot recognize revenue at the point of sale. To correctly recognize revenue for the film licensing contracts, customer must have all rights to exploit, exhibit, or sale (926-602-25-10). Even though the film is delivered to the customer, TerraSure must recognize revenue from licensing agreements not at the point of sale, but after the marketing department begin its promotional activities.

First Day of High School Essay

Walking into a brand new school for the first time with a bundle of happiness and a twisted knot in your stomach indicating just how nervous you really are, sure is a way to start your first day of high school. It is natural on the part of every student to remember the first day at school. Recently, I just became a 9th grader. I remember the day as a unclear haze, that resembled a impossible puzzle to complete. The night before was spent with stories of high school back in the last couple decades or so. Ever so often was an, â€Å"Oh you’ll blend in,† â€Å"You’ve grown so much,† and â€Å"I cannot believe you’re already in high school.† Eventually the praise died down and it was time to climb into bed. The first thing I came to realize was a large building pacted tightly together within a compound wall. As small as I am, i couldn’t not seem to put the puzzle pieces together but luckily a map became my bestfriend. The schedule was confusing at first, since it was a long summertime before I had last read one. Nothing felt stable or ordered, everything seemed like it was going to be chaotic any minute. A few seconds later the bell rang, as I thought to myself how much I did not ever recall a harsh stop and ponder during the summer about miss the bell itself. The pattern went throughout the day as a class began, and after a long period a bell ended the period and began a new class. This went on for what felt like years. I walked through the halls and tried to categorize exactly what type of people I would be dealing with and I’ve realized the fact high school is anything but the type of events they describe in movies. Everyone seemed to fit each category perfectly, however it wasn’t quite the match. These faces appeared more normal and friendly. I remember my imagination of what high school was like when I was younger. I was just dying to experience all the new and exciting things that awaited me. From sports to boys to all the partying, I just wanted to know what everything was like and now that I’m finally here, I feel like I want to go back to when I was younger and not wish to grow up so much. As time goes on you find yourself getting to class earlier and earlier each day. Finding new routes, talking a little more, taking more time between  classes and the tension eases. The days do not get harder, but the work and study habits do. Later days of the school year are always easier then the first few. Some say that â€Å"high school was the best time of my life†, just like others say that high school was the worst time in their lives. To be honest, I am not sure which category I fall into yet. I’ve had a good start but I know high school won’t be picture perfect for me. The only thing I can say is that I am learning.

Fast Food Nation Summary and Reaction Essay

Eric Schlosser wrote the book â€Å"Fast Food Nation† to prove that the fast food industry is solely responsible for many problems that affect today’s society. He begins his argument by explaining how the fast food industry came to be and who made it happen. Carl Karcher was the biggest starting pioneer of this new industry. After his marriage in 1939, he bought his first hot dog cart and â€Å"by the end of 1994, [he] owned 4 hot dog carts in Los Angeles. † His next fast food venture was his Drive-In Barbeque, but the competition was soon on. â€Å"Dozens of people were standing in line to buy bags of ‘McDonald’s Famous Hamburgers’ (Schlosser 18, 19). Richard and â€Å"Mac† McDonald had their own business, but were tired of having to find new carhops and cooks. So they began to use today’s way of how fast food chains do business, assembly line style. This was the beginning of the rising power of the fast food industry. Schlosser then briefly describes the lives of many other fast food pioneers such as William Rosenberg who opened his first â€Å"doughnut shop in 1948, later calling it Dunkin’ Donuts. † Glen Bell founded the restaurant chain Taco Bell, Keith Cramer founded Insta-Burger-King, Dave Thomas founded Wendy’s, and Thomas Monaghan opened the first Domino’s. And Harland Sanders was the famous man of them all with his opening of the world’s first Kentucky Fried Chicken restaurant (Schlosser 22-23). Thanks to these men, America has her fast food. In order to explain how fast food became so popular in American culture, Schlosser continues his book with the complicated relationship between Ray Kroc and Walt Disney and their rise to fame. â€Å"Ray Kroc took the McDonald brothers’ Speedee Service System and spread it nationwide, creating a fast food empire (Schlosser 34). † Walt Disney created a fantasy world that fulfilled the American child’s dreams. Their great success was their uncanny ability of marketing their products to children. Even though Walt Disney’s success arrived sooner, Kroc’s company was most successful with the invention of the character Ronald McDonald in enticing America’s children. â€Å"Indeed, market research has found that children often recognize a brand logo before they can recognize their own name (Schlosser 43). † Playgrounds and even public school systems have fell victim to advertising. Playlands in McDonald’s stores attract whole families with young, hungry, and noisy children. Believe it or not, children are the ones who made McDonald’s Corporation as rich as it is today. Schlosser continues with stories and facts about what happens behind the counter. The mass number of fast food stores across America shows growing problems surrounding those who work at them. Crew members are only paid minimum wage and sometimes even less. They are prevented from being paid overtime, forming labor unions, and are forced to work only when they are needed. Workers going overtime are being paid for the extra time in food, not money. Robberies have been known to occur by current of former employees, not just third parties. McDonald’s sees it only necessary to add security to its stores rather than increasing its employee wages to incentivize workers to try and prevent theft. McDonald’s uses a combination of teenagers and illegal immigrants as its workforce supply. These workers are not concerned about being paid little since most do not have to support a family. With such a tremendous supply of labor, there is no incentive for McDonald’s Corporation to increase employee wages. Franchisees of many fast food chains are increasingly upset about encroachment, multiple stores of the same chain within short distances of each other. It is terrible that corporations are not thinking too highly of their franchisees. But there is no incentive for these corporations to change since they own the land that their franchises sit on. Franchisees periodically sue their franchisors â€Å"about inflated price charged by suppliers, [and] about bankruptcies and terminations that seemed unfair (Schlosser 100). † The meat packing industry is by far the most dangerous industry in America. Countless injuries occur without being reported and all that seems to matter to the industry is meeting the daily schedules. The faster the employees are made to work, the more dangerous the work becomes. Workers are usually fired after they are severely injured and are sent to specific doctors who do not document these injuries and convince the workers that they are fine. Any defiance against the company and those workers are either fired or given harder and more dangerous tasks. The only thought that comes across meat packing company executives is profit margins. There is relatively no social justice for the employees of the fast food and meat packing industries. Their wages are minimal, they receive no benefits, and no bonuses are given. There is no excuse that can justify falsified reports and time clocks. This is one of the few points where private interests go too far. Minimized costs is a must have in the private sector, but not to the point where the lives and welfare of workers are at stake and laws are being violated. There is simply too much private interest alive in Congress which prevents any further prohibition of such behavior. These industries are technically victimizing their workers by using them as cheap labor. Fast food chains use advertising which targets children who are the most vulnerable and exploit that weakness to maximize profits. In addition to Schlosser’s arguments, fast food is the worst possible food that people can eat. The sad thing is children at such young ages are eating it and the parents either do not even know any better or they simply do not care just because it is good to their wallets. Eric Schlosser’s critical views towards the fast food and meat packing industries, I dear say, are very informative. In sharing his views, I believe things must be done to address these issues. If the end result means higher prices for fast food, I, unlike most of Americans, simply would not mind paying it because then at least the employees of both industries would be earning better wages, learning real life skills, and working in a safer environment especially for those who do the meat packing. The facts about the fast food industry in this book definitely prove to me what I have been supporting, working at a McDonald’s for the past two years. I may actually consider finding a new job this summer with a company that pays me better, a company that does not have the kind of nasty reputation that the fast food chains have.