Introduction to Circuits -Lab Report Essay Example

Introduction to Circuits Introduction to Circuits -Lab Report Paper Introduction to Circuits -Lab Report Paper After completing these parts our aim is to see the operation oscilloscope and analyze simple circuits. Experimental work; In the first part of the experiment we read the colors of given resistors. There were 4 resistors in the kit. Three of them were same because their colors at the right hand side were same an done of them was different. The color of 3 resistors were orange and other one was red so when we looked at the color code table our three resistors were 10. 000 ohm and other resistor was I OHO ohm. After using color table we determined the values of resistors by using altimeter While measuring the values of the resistor by millimeter it is important to not to hold it by two hands since the human body has an effect on it and wrong values can appear thats why we measured them by placing the resistors to board. The results that we obtained are as follows: First resistor = 10 k ohm= 10 000 ohm Second resistor: I C. 23 k Ohm = 10230 Ohm Third resistor= 9. 91 k ohm = 3910 ohm Fourth resistor- 0. 987 k ohm 987 ohm As seen in the results by using millimeter we obtained the values which are very close to actual values. The elements that we used re linear elements we obtained linear graphs. In addition to that A linear circuit is one that has no nonlinear electronic components in it. Examples of linear circuits are small-signal amplifiers, differentiators, and integrators, or any circuit composed exclusively of ideal resistors, capacitors, inductors, pop-amps, and other linear circuit elements. Some examples of circuits and components that operate in a nonlinear way are diodes and transistors These pictures are for the part that we used Math menu and selected addition and subtraction functions from the math menu _ This Picture is for the step that we connected CHI probe to the PROBE COM of the oscilloscope and observed the s,anal by pressing the CHI menu button, We adjusted the amplitude of the output of the signal generator to IV peak to peak. After following these steps we observed the both square and sinusoidal wave forms on the screen. Conclusion As a result in the lab I we became familiar With lab components and how to use them in a proper way such as millimeter, oscilloscope, signal generator and voltage source. We also learned how to connect resistors in series and parallel. In addition to that we observed that there are two ways to measure the value of the resistor. The first way is to connect to the millimeter the second way is calculating its value by using color table according to the colors on the resistors. We learned the structure of the board (which we used for setting the circuit) and using the board with jumps. Beside these information we also learned the structure of the cables which we connected to voltage and signal generator. The red pin leads to positive pole and the black one leads us the ground.

Legalization of Same-Sex marriage Research Paper

Legalization of Same-Sex marriage - Research Paper Example For example, marriage enables spouses to receive insurance through their partners’ employers. They are also allowed many other rights such as the ability to make decisions for their partner who is being hospitalized, have the right to sue on their partner’s behalf and cannot be forced to testify against them in court. Married couples also pay less in taxes and receive many other social and financial benefits. But because gay couples are legally prevented from marrying, they are excluded from receiving the same considerations that married heterosexual couples enjoy. This paper will more closely examine the benefits denied gay couples as well as the political and legal implications involved with the issue. It will conclude with a discussion involving one of the main non-religious based reasoning’s that those who oppose of gay marriage espouse, the affect of this type of living arrangement on the children of the relationship. Five states plus the District of Columbi a allow same sex marriage and California’s status in currently in the court system. Gay marriage in California will not be allowed to precede until federal and state appeals courts made a decision regarding proposition 8. Gay-rights supporters had petitioned the U.S. 9th Circuit Court of Appeals and asked it to end the hold put on a San Francisco federal judge's decision last year, that Proposition 8 is unconstitutional and California authorities should stop enforcing it. Other countries such and the UK, Norway, Denmark, and Canada all give full-fledged marital rights to any couple. Seven states and numerous countries allow civil unions. Allowing gay couples to marry works well in several states and countries. Intolerance is the only reason it is not legal in the U.S. Advocates of non-traditional marriage argue that there is no constitutional basis for denying legal matrimony to gay couples. The Constitution not only legitimizes gay marriage but implies that the government sh ould never have considered a ban and should instead actively pursue legalizing gay marriage. As citizens of the United States, all people are guaranteed the inalienable right to pursue happiness. It does not exclude on the basis of sexual preference. The government was originally formed as an entity meant to champion the rights of the individual whether they are on the majority or minority side of public opinion. Laws that were enacted in the South disallowed the marriage between black and white people but were struck down by the Supreme Court. In 1964, the Civil Rights Act followed the tenets of the Constitution by prohibiting this type of discrimination. The opposition to gay marriage is based on prejudice and, as time passes, the concept will become more and more accepted. It, like racial prejudice, will become socially abhorrent (Sullivan, 2000). In addition, the disallowing of gay marriage by legislation violates the Due Process Clause of the Fifth Amendment.   According to t he American Civil Liberties Union, â€Å"The law [against same-sex marriage] discriminates on the basis of sex because it makes one's ability to marry depend on one's gender.† The ACLU continues by saying, â€Å"Classifications which discriminate on the basis of gender must be substantially related to some important government purpose. Tradition by itself is not an important government purpose† (American Civil Liberties Union, 1998, pp. 14-15). In 1997, the General Accounting Office reported that heterosexual married couples enjoyed

Statement of qualification Essay Example | Topics and Well Written Essays - 500 words

Statement of qualification - Essay Example These and other financial vicissitudes instilled a strong desire in me to learn and understand the intricate theories of finance and its workings. I carried these aspirations into my university studies where I chose to undertake a degree course Economics. At every level, I strived to acquire the utmost possible insights about economy. I felt that taking Economics at the university level would gratify my interests in financial matters and act as a stepping-stone to my dream career. The enriching experience I received in my undergraduate enthused me to dig deep on financial matters. The academically rigorous program and the milieu that was full of intellectually engaging course mates molded me a great deal. My performance in my undergraduate studies never slacked for a moment given that the environment and lectures gave ensured I stayed on track academically. Often, I would wonder about the situation of the world economy. I also wanted to know about the best stocks, interest rates, and bonds. These studies in economics furthered my interest in finance greatly. Studying economics has widened my interests in finance, and I aspire to know a lot on areas such as security analysis, valuation, and portfolio management. With time, I have also developed a keen interest in investments, and I am stimulated by the diverse valuation techniques involved in relative valuation and contingent claim. Taking numerous internship opportunities over summer periods and after graduation has done a lot in shaping my passion in finance. The internships gave me an opportunity to have pragmatic experience in finance matters. The opportunities also opened up and deepened my interest in portfolio asset allocation and theory. This, coupled with a Master in Finance from Santa Clara University, will give me further insight in valuation techniques and other finance matters in global markets. MÃ ¼ller and Achleitner (217) regard an in-depth knowledge in

The Respiratory Response To Exercise Physical Education Essay

The Respiratory Response To Exercise Physical Education Essay Exercise refines the ability of the cardiorespiratory system to take oxygen from air inspired into the lungs, and then load and transport it more effectively. Greater efficiency in the movement of blood through the cardiovascular system allows greater amounts of oxygen to be transferred from the respiratory system and also lung size does not increase due to exercise by any estimable degree.When you are exercising your respiratory system responds by increasing the respiratory rate and tidal volume as you start to breathe heavily, deeper and quicker, so that a greater supply of oxygen can get to the muscles. In contrast when you finish exercising your respiratory rate and tidal volume will decrease and gradually return to baseline. The increase in the respiratory rate and tidal volume in response to exercise leads to an increase in the pulmonary ventilation and thus greater delivery of oxygen to the alveoli to meet the increased demand of the exercising muscles. It also ensures greater removal of carbon dioxide which is produced by the increased workload of the musculature. Responses to Anaerobic Exercise In order to immediately meet the unexpected higher energy demand, stored ATP is the first energy source. This lasts for approximately 2 seconds. Muscles begin to fatigue when ATP resynthesis can no longer match requirement. If the exercise continues at a high intensity, and so Oxygen is not available at a fast enough rate to allow aerobic metabolism to take over, the production of lactic acid will reach the point where it interferes with muscular function. This is called the Lactate threshold. When stored ATP is broken down into ADP + P, the rising ADP level excites Creatine Kinase to begin the breakdown of Phosphocreatine (PC). The ATP-PC system can only last 8-10 seconds before PC stores are decreased. The lactic acid system (Anaerobic glycolysis) must then take over as the predominant source of energy production. High intensity (but sub-maximal) exercise can last for between 3 and 5 minutes using this system Responses to Aerobic Exercise Due to the necessity of Oxygen being present for aerobic metabolism, the first few minutes of low to moderate intensity exercise are powered by anaerobic metabolism as described above. The intensity and duration of exercise determines which fuel source is used. Fat metabolism is a slow process and so can only be used as fuel for exercise at less than 60% VO2 max. The intensity of exercise which can be maintained drops as fat cannot supply the required amount of energy. Continued low to moderate intensity exercise is then fuelled by carbohydrate and fat stores using aerobic metabolism. Carbohydrate is a much faster fuel source and so can be used for exercise up to 80% (in trained individuals). Carbohydrate stores within the muscle and liver can fuel exercise for up to 80 minutes. As carbohydrate stores get lower, the body has to rely more and more on fat stores. The effects of exercise training on the respiratory system : During exercise of the muscle cells, the organism use more oxygen and produce increased amounts of carbon dioxide. So after the exercise of the muscle cells your lungs and heart have to work harder to supply the extra oxygen and remove the carbon dioxide.Eventually your breathing rate increases and you breathe more deeply and also heart rate increases in order to transport the oxygenated blood to the muscles. Muscle cell respiration increases , more oxygen is used up and levels of carbon dioxide rise. The brain detects increasing levels of carbon dioxide and a signal is sent to the lungs to increase breathing. Breathing rate and the volume of air in each breath increase, which means that more gaseous exchange takes place. The brain also tells the heart to beat faster so that more blood is pumped to the lungs for gaseous exchange. More oxygenated blood is gets to the muscles and more carbon dioxide is removed. A conditioned athlete gradually develops increased maximum oxygen consumption (VO2 max) and lung capacity, which are contributors to being fit and healthy. Moreover, athlete who has not properly trained their cardiovascular system is likely to incur other injuries more easily by the rapid onset of fatigue and the consequent lowering of motivation and mental awareness. For anyone emulating at varying altitudes, they must allow themselves a considerable period to acclimatise before an event. Even climbing to a moderate altitude decreases the maximum uptake by 7% to 8% due to the change in atmospheric pressure. This decrease in oxygen being supplied to the muscles may decrease performance by 4% to 8% depending on the duration of emulation, a considerable disadvantage at the finish line. Finally, athlete who prepares and acclimatises well may still not match natives of high altitude areas such as the Andes, who have a larger chest capacity, more alveoli, larger capillary beds and higher red blood cell count.Thenceforth, people may suffer from altitude sickness when moving from low to high altitudes, sufficient time must also be allowed for these symptoms to vanish before starting intensive training. Conclusion : Biological control mechanisms increase ventilation in response to exercise to meet the demand for increased gas-exchange rates and to maintain PaCO2, pHa and PaO2 during moderate exercise and heavy exercise. Finally all humans possess specific kinds of muscle fibers, each of which is allotted relatively evenly throughout the muscles of the body in keeping with the genetic makeup of the individual. The two general muscle fiber types are fast twitch and slow twitch fibers. The definition between fast and slow is determined by the frequency with which the neuron that dominates the impulses that control the contraction of the particular fiber. Fast twitch neurons begin at a rate of approximately 10 times greater frequency than does a slow twitch neuron.Also the effective function of fast twitch fibers is necessary to anaerobic sports such as sprinting and jumping. Specialized exercise, such as plyometric programs, can increase the performance of fast twitch fiber. The proportion of slow twitch muscle fibers, the backbone to the muscle function in stamina sports such as marathon running and cycling, will increase in proportion to fast twitch fibers when the athlete undergoes vigorous stamina training.

Fahrenheit 451: Books - A Part Of Our Past :: essays research papers

Fahrenheit 451: Books - A Part of Our Past   Ã‚  Ã‚  Ã‚  Ã‚  One of the biggest issues raised in this book was the idea that people are starting to forget more about books and what they mean. People have started to take books for granted, instead of reading books they watch a movie or a program on the television. People do not realize that books, scrolls, manuscripts are a big part of our past.   Ã‚  Ã‚  Ã‚  Ã‚  Since the beginning of time, people have been recording things they saw, did and took part in on birch bark and later very primitive paper. People do not realize that without those scratching on the birch bark that we would have no recollection of the past. Sure there would have been word of mouth, but things would have gotten so turned around that it would not have been our past anymore, it would have been a made up one. In the time of Shakespeare there were no televisions, not even close to that technology yet. Who would we study and learn about, if no one had written things. Man kind would be studying the man who had invented the television because he would have been able to record himself, and then everything after that, which is only about fifty years. But without the recordings of Einstein and all the other famous scientists, television probably would not be invented that early.   Ã‚  Ã‚  Ã‚  Ã‚  In our day and age people are watching too much television. We figure that everything that is in books is on the television. If we need to learn about something we rent a movie about it or watch a show on it. No one reads books anymore just for the fun of it, or so they can read the paranormal, science fiction, horror, classics, fiction or non-fiction novel that surround our world. If we want to see stuff like that we will watch â€Å"The X-Files† or rent a Stephan King movie. Actually when you read books there is much more satisfaction about it. They help you develop your imagination which can be very good in many things. The description in them makes you use your brain to see the picture and the action behind it. The picture that comes into your head is more real than the picture on the television. It never seems like they just threw a dummy out the window, it actually looks real in your head. When you read stuff like â€Å"Moby Dick†, you actually see Captain Ahab and Ishmael and the rest of the crew trying to slay the great Sperm Whale, then you see the

Briefly Describe The Long March and explain why it is an important event in Chinese History

In the summer of 1934, after suffering a string of defeats, the communist party and the Read Army decided to flee their southern bases and retreat. This retreat became known as the Long march. On the march the group endured 368 days of extreme hardship before they finally reached the caves of Yenan in Northern China. The Long March is recalled fondly with great idealism as a time when thousands of Chinese peasants selflessly volunteered to join the fight. The Long March is considered an important event in Chinese history for many reasons. It was very important for the CCP and Red army because communism survived and they found a new base.This new base was remote enough for the GMD to be unable to attack it, and was also safe from attack by the Japanese. This helped to increase the CCP’s standing in China even further. Another key impact of the Long March was that Moa Zedong was re-established as the unchallenged leader of the CCP. The cowardliness of his guerrilla tactics durin g the extermination campaigns had meant that he was replaced for a short time by Otto Braun. However Braun allowed the communists to carry too much equipment, and led the retreat in a straight line, making them slower and easier to attack.He was blamed for their huge losses, and leadership was soon handed back to Mao. After the success of the march, his tactics were forgotten and he was hailed as a great hero. The march also allowed many Chinese people to see the CCP as great heroes, and therefore increased support for them. The long march became part of Chinese Communist mythology. Many paintings were produced showing Mao marching at the head of the column over the mountains of Western China. This opinion really boosted support for communism and many people began to agree with their policies over those of Chaing’s and the GMD’s.During the Long March, Support for Communism was also increased by the good behaviour of the Red Army in the provinces they crossed. Their pos itive attitudes and fair morals impressed many local people, especially peasants, who were more inclined to support the CCP. Their rules to speak politely, pay fairly, not to hit or swear, not to take liberties with woman and not to ill-treat prisoners greatly contrasted with the brutal and cruel treatment of the locals by the GMD armies, who captured, starved and murdered anyone who had any connection to communism.The Long march was not at all as idealistic as it seemed in reality, thousands of communists were wounded, killed, starved or froze to death. However, today it is not seen as a failure for the CCP, but is instead hailed as an important event in the survival and establishment of the communist government, leadership and support in China and a key event in Chinese History.

Disney Analysis - Free Essay Example

Sample details Pages: 7 Words: 2146 Downloads: 3 Date added: 2017/09/11 Category Advertising Essay Did you like this example? Case Analysis of The Walt Disney Company: The Magic of Disney Fall 2003 Sean Housley Haas School of Business University of California, Berkeley MBA Candidate, Spring 2004 [emailprotected] berkeley. edu Abstract Disney has led the entertainment industry for much of its storied 80-year history. What exactly is the ‘Magic of Disney’? And how has Disney sustained the magic for so long? This paper analyzes Disney’s historical competitive advantage, drawing emphasis on the remarkable synergies Disney created across its various businesses. This paper then addresses the contributions of CEO Michael Eisner, credited with restoring Disney to greatness in the mideighties. Finally, this paper evaluates Disney’s growth strategy over the last decade. Sustainable Success Disney is an outstanding example of a company that has maintained its competitive advantage by routinely making wise decisions about what resources and capabilities to acquire, invest in, and develop. Further, Disney has exhibited an uncanny ability to successfully make decisions about what to do with its resources and capabilities given its competitive environment. Don’t waste time! Our writers will create an original "Disney Analysis" essay for you Create order These decisions constitute Disney’s strategy. And, while Disney’s strategic decision-making record is not perfect, it is strikingly superior to most firms. 1 As with enduring market leaders in other industries, Disney’s sustainability is explained by elements of its strategy that are heterogeneous, are inimitable, exhibit foresight, and include imperfectly mobile and co-specialized elements. Heterogeneity Disney is different. No other entertainment company – perhaps no other company period – evokes the feeling of wholesome family goodness that does Disney. Disney has taken extreme care from its early roots under founder Walt Disney in 1928 to ensure that its image is fun, imaginative, clean, and appeals to people of all ages. It places high priority on making products predictable and safe. The control of image and attention to detail exists throughout the company; from the theme parks, which are washed down each night; to the retail stores, which bear twice the construction cost of the U. S. average; to the licensing of characters themselves, which in some cases require approval from CEO Michael Eisner himself. Disney bolsters this image by encouraging creativity and innovation among employees. It further reinforces its unique culture by training employees at Disney University, by maintaining company archives to preserve its history, and by promoting from within. Inimitability Walt Disney said, â€Å"It all started with a mouse. † Actually, preceding Mickey was Oswald, the Lucky Rabbit. However, Walt Disney lost the rights to Oswald because he did not own the copyright. What he gained instead was an early education in the value of intellectual property. Since that time, Disney’s tight control over its properties have given it a strong defense against entrants and competing incumbents. Fortified by these protected characters, Disney has built a strong brand that further deters competitors’ efforts to imitate. Finally, 1 For example, Harvard Business School Case The Walt Disney Company (A): Corporate Strategy (Michael Porter, 1988) cites industry estimates that only 20% of films in the 1980s were profitable. The case indicates that Disney, on the other hand, produced profit on â€Å"nearly all† pictures produced from October 1984 to March 1988, at the targeted production rate of 15-18 new films per year. Disney’s corporate culture, resting squarely upon Walt’s legacy and vision and bolstered by Michael Eisner, adds to Disney’s inimitability. Strategic Foresight Despite early failure of his first cartoon business, Walt Disney had the vision and confidence to pursue several previously untested ideas. In 1928, Disney released the world’s first fully synchronized sound cartoon, â€Å"Steamboat Willie†. In 1937, Disney rel eased the first full-length, full-color animated feature, Snow White and the Seven Dwarfs. He had the strategic foresight to remain true to wholesome family entertainment despite the temptations of cheaper production (using live actors), a mistake the company temporarily fell into after Walt’s death in 1966. He also correctly predicted that television would be an important medium, and introduced the highly popular â€Å"Mickey Mouse Club† in 1955. Finally, Disney correctly bet big on entering theme parks with Disneyland in 1955. Imperfect Mobility and Co-specialization Disney’s strong legal protection makes it nearly impossible for competitors to copy or imitate Disney’s characters. In addition, the parts comprising the Disney whole would be of less valuable to a poacher than they are to Disney. This is because, for Disney, the sum of the parts is greater than the whole. In a word, synergy. Even if a competitor succeeded in hiring away key talent, for example, the competitor would still lack the tradition, culture, and complementary assets that make up Disney. Synergy Disney has mastered the art of the cross-sell. It has done so by leveraging its characters and carefully controlling its image, driving toward a unified, highly valued customer experience. An example best illustrates this. Consider a typical multi-day family trip to Disney World. A family books lodging months in advance at a hotel inside the park. It does so because it knows that the hotel has the best location, is highly demanded, and will provide good hospitality. Being lodged inside the park, the family eats at Disney-owned restaurants and perhaps buys Disney merchandise. All the while the family willing pays prices that are higher than would be charged by comparable hotels, restaurants, and theme parks. It does so happily because it considers the experience a good value. But wait, there’s more. Consider what makes Disney World the world’s number one destination resort in the first place. It is fueled by the positive experience generated by other 3 Disney productions – most likely the lovable characters of the Disney family. 2 While in the park, children clamor to meet the Disney characters scattered throughout the park. This memorable and emotional experience further fuels demand for home videos, books, television broadcasts, or retail purchases. And the kids (and often parents) can’t wait for the next trip to Disney World, completing the cycle. This complex but carefully orchestrated web of complementary businesses is the ‘Magic of Disney’. It’s what drives major advertisers such as Delta Airlines and Coca-Cola to pay for the right to feature Disney World in their own promotions. Michael Eisner Following the deaths of Walt (1966) and Roy Disney (1971), the company strayed somewhat from its roots and performance began to suffer. In October 1984, Michael Eisner was named Disney’s chairman and CEO. He took everal actions to rejuvenate the company. First, Eisner recruited new management, changed the corporate structure, and changed the company name. He then outlined the company’s overall corporate objectives, intended to reignite a creative spark in the core businesses of theme parks, filmed entertainment, and consumer products. He controlled movie budgets by imposing a â€Å"financial b ox† within which the creative talent had to operate. He struck the right balance. As a result of improved cost control and brilliant scripting, casting, and production3, Disney won at the box office. From 1984 to 1987, market share leapt from 4% to 14% and revenues increased from $245 million to $876 million. In addition, Katzenberg, under Eisner, took the bold step to increase film production to 15 to 18 new films per year, up from only 2 new releases in 1984. Eisner also expanded the animation staff to support the release of a new animated feature every 12 to 18 months. Furthermore, the cycle of reissuing animated classics to theaters was shortened from every seven years to every five years. Film and TV income over the period improved from $2 million to $131 million. Eisner also introduced an innovative and effective â€Å"sell-through† approach to Home Video pricing, whereby classic animated titles would be released for sale for two years, then withdrawn for five years. The strategy yielded retailer margins of 30-40 percent, much better than the industry average of 20-30 percent. Accompanied by aggressive marketing campaigns, 2 3 Walt was right. It really did all start with a mouse. Credited to Jeffrey Katzenberg, who was hired by Eisner from Paramount in 1984. 4 Disney nearly doubled its share of the videocassette market from 5. % to 10% on revenue growth of $42 million to $213 million from 1984 to 1987. In addition to video sales, Disney strengthened its place in the home market by establishing a major presence in television. The Disney Channel was launched in 1983 and profitably grew to be the fourth largest pay-channel, with nearly four million subscribers, by 1987. In 1985, Disney successfully launched animated children’s tele vision cartoons and also had success with first-run cartoon syndications. To rejuvenate Consumer Products, Eisner arefully managed licensing products ranging from children’s records to educational materials and emphasized â€Å"strategic alliance† promotions with major names like Sears and McDonalds. In 1987, Disney launched Disney Stores. Despite twice the average construction costs, the stores generated profits on sales volumes that were three to five times the U. S. average. In addition, Disney entered mail order retailing with its 1985 catalog launch, which reached over eight million people. From 1984 to 1987, Consumer Products’ revenue grew from $110 million to $167 million, netting income growth from $57 million to $97 million. Finally, under Eisner, Disney aggressively grew its theme park business. Despite spending $50 million in 1984 to refurbish Fantasyland and spending tens of millions to add new attractions, theme park income grew from $186 million (revenue $1,097 million) to $549 million (revenue $1,834 million) during the period from 1984 to 1987. Disney achieved these results by advertising nationally on television for the first time in 1985 and opening Disneyland on Mondays, on which it was previously closed for maintenance. Disney also kept pace with increasing demand by steadily pushing park ticket prices up to about twice the industry average. And, despite removing restrictions on the number of visitors, the parks continued to provide an exceptional visitor experience. Overall, the period from 1984 to 1987 saw tremendous growth. Sales climbed from $1. 6 billion to $2. 9 billion and income grew from $100 million to $450 million over the period. Return on equity more than doubled, going from 9. 3% to 21. 3%. Eisner’s most important contribution between 1984 and 1987 was to restore the ‘Magic’ to Disney. More concretely, by priming the pump with a disciplined emphasis on creativity and innovation, Eisner was able to exploit the synergies generated by Disney’s highly complementary businesses units. Exploiting these synergies was the mechanism by which Eisner maximized shareholder wealth, while simultaneously reinforcing the other corporate objectives that emphasized sustainability, image and brand. 5 The Past Decade Source: https://host. wallstreetcity. com/wsc2/Chart. html, 10/22/03 As observed in the above ten-year chart, Disney’s share performance has lagged the SP 500 market index over the past decade. One may also observe that the underperformance has mainly occurred in the past five years. The 30-year graph below adds some helpful context. From it, we gain a better appreciation for the challenge of sustaining 20 percent growth per year over a long period of time. Disney has attempted to grow its core businesses internationally while exploring new markets domestically such as sports, live Broadway productions, cruise lines, real estate development, and radio and television broadcasting. Disney has had mixed success in these areas. Source: https://host. wallstreetcity. om/wsc2/Chart. html, 10/22/03 6 International expansion of theme parks was a logical growth option for Disney to pursue, particularly following the company’s good experience with Tokyo Disneyland. However, Euro Disney was disappointing. A behemoth American-style theme park simply did not fit culturally in Paris. Disney’s expansion into live Broadway shows also appeared to be a risk worth taking. It is a natural application of their core competency: providing a high-quality entertainment experience. In fact, Disney’s production of Beauty and the Beast was a Broadway hit. Given Disney’s experience with hospitality, their cruise line and vacation club expansion ideas also appeared promising. And, excepting the recent media snafu regarding food-poisoned cruise passengers, these ventures have sailed smoothly. Disney’s foray into sports, particularly the violent game of hockey, seems misplaced. Despite strong advantages of a franchise owner having broadcasting ability and the ability to promote merchandise, ownership of a hockey expansion team did not fit the image of the company that fostered lovable cartoon characters. Thus, despite the success of the movie promoting The Mighty Ducks, along with lucrative merchandising, the venture failed to produce expected results. While the combination of media ownership and sports worked quite well in other markets, the Disney empire is quite different than the Ted Turner empire. Disney’s entry into residential real estate development also seems misplaced. It is unclear how this complements or enhances their other businesses. Finally, Disney’s acquisition of ABC seems sensible. And, Disney has successfully used the national media outlet to return Sunday night Disney programming to a national audience. The move also gives Disney sure footing in the Saturday morning cartoon space. Overall, it appears to support the type of synergy for which Disney has come to be known. On the other hand, Disney must carefully guard its image. Ownership of a more mainstream media outlet introduces some risk to the squeaky-clean image that has served the company well for the majority of its fabled eighty years. Overall, it appears that Disney is struggling to maintain growth. It must be careful not to lose focus and inadvertently compromise its magic. 7