Maverick Lodging Case free essay sample

The balanced scorecard has several attributes, such as tracking financial performance, tracking nonfinancial measures and communicating franchisees and owners objectives of growth. For financial performance, according to Exhibit 7, the Maverick Courtyard has 3. 77% growth rate, Maverick Fairfield Inn has 2. 2% growth rate and Maverick Residence Inn has 3. 5% growth rate. For flow-through flexible budget, both Maverick Courtyard and Maverick Residence Inn have good score while only Maverick Fairfield has unexpected score. As a result, the financial performance is generally good for the company. However, nonfinancial figures indicate the company’s customer service quality is declining. According to guest-satisfaction score in Exhibit 7, all three hotels’ scores are lower than market average scores. The company has higher comprehensive audit performance than last year’s and employee turnover is decreasing. Although the company has some unexpected performances, it develops well in year 1999. Analysis of Maverick’s value-added proposition Maverick lodging companys objectives are increasing operating profit and market shares by enhancing customer satisfaction. We will write a custom essay sample on Maverick Lodging Case or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page By implementing the balanced scorecard, the company is trying to increase financial yield, control profit and flexible budget, improve internal business control, stimulate performance of hotel management, facilitate communication between principals and agencies and start learning and growing processes. However, the balanced scorecard has several problems and makes it hard for the company to reach its goals. The first problem is that the balanced scorecard is hard for hotel level managers to understand. Although Baum tried to make it easier to understand, the scorecard still has many elements and some of the financial figures and complicated measurements are hard for entry-level managers to understand. For example, the colors and points system is complex because it is difficult to connect colors and points to the bonus points and the 40% multiply factor may cause managers confusions. Since it is hard to understand, the scorecard would have problems on acceptance and the implementation process would be difficult. As a result, the scorecard would not reach the maximum effectiveness and efficiency. The second problem is that the scorecard contains uncontrollable factors for managers. For example, managers performance will be measured by comparing the budgets and actual expenses. However, hotel level managers have no right to determine the budget and this measurement is unfair. As a result, many managers would be reluctant to accept the scorecard. The third problem is that the scorecard is only implemented at the hotel-general-management level. As stated in the case, the hotel-general-management is the last level of the company management and they have no right to discuss the components of the scorecard. In addition, the implementation process lacks communication between different levels of managements. As a result, the scorecard represents the top managements thoughts and may not be suitable for the bottom level management. Also, the lack of communication may cause hindrance for accepting and implementing the scorecards. Flow-through Flexible Budget The company applies the flexible budget in order to achieve target budget and generate high profit. The top management of the Maverick Lodging set the original budget at first. After one fiscal year of operating, the management gets the actual data of revenue and expense. The management would then make reforecast target, which is the flexible budget, to measure the performance of each hotel. For the variable costs and the variable revenues, the company uses drivers and actual quantity to determine the value of flexible budget. However, the fixed elements and the uncontrollable expenses stay the same as original budget. After the calculations, the company can acquire controllable profits and house profits for both actual and flexible budgets. Based on the results, top management calculates the percentages of actual controllable profit divided by reforecast controllable profit. According to Exhibit 3, the company firstly determines whether the performance is low, base or high by viewing house profit percentage. House profit percentage that is lower than 90% indicates low performance, 90%-105% indicates basic performance and higher than 105% indicates high performance. After determine level of performance, the company uses the flexible budget controllable profit percentages to determine the color rankings of managers. Changes for Balanced Scorecards According to the analysis above, the scorecard does not align with the company’s overall objectives. As a result, the company can make some changes to modify the scorecards. Firstly, the company should simplify the scorecards procedure to help managers understand and increase acceptance. For example, the company should delete the color and points system, and add some straightforward methods to determine the managers’ performances. Secondly, the company should eliminate the uncontrollable factors in scorecards. For example, budget comparison should be deleted because bottom level managers have no right to determine the original budgets. Another way to solve this problem is to let bottom level managers plan for their own budgets so that they have the power to determine the original budget. In addition, since the customer survey is complicated and time-consuming for customer to fill in, many customers would not complete the survey. As a result, the company should consider simplifying the guest-satisfaction survey in scorecards to attract more attendance for the survey. The third alternative the company can take to change the scorecards is to let all level managers discuss the properties of the scorecards and implement the scorecards measurements in all level managers. Since the bottom level managers cannot determine the components of the scorecards, the acceptance and implementation process would be difficult. The scorecards process would be fairer if all level managements apply the same measurements.

ATV essay essays

ATV essay essays The all terrain vehicle has been around for many decades. It has many different models that are used by a variety of people, these types are utility, sport, and youth. The utility four wheeler was the first ever made although it wasnt a four wheeler at all it was actually a three wheeler. The first atv ever made was used as a farm vehicle for hauling and moving other equipment. The three wheeler became popular but didnt last long because of its tendency to flip easily. The best way to fix the problem was to add another wheel, making the four wheeler the first ever made; it was also used for farming; it was in the market for equipment and was never meant to be sold as anything but for hauling and towing. The utility four wheeler started out as a small engine, small framed and very uncomfortable for the rider. As years past the utility four wheeler became as well known on the farm as a tractor. It moved from a small 90 cc engine to the now popular 650 cc engine. It also evolved from the stiff single shock suspension to the all around independent wishbone suspension. The utility atv has helped the farmer and working man make the tasks outdoors much easier and will continue to become The sport atv has been around for about a decade and a half. As most inventions happen, they start out being used for what they were made for, then the people that say, Well what if?, get a hold of them and modify them so it can do something else. The sport four wheeler wasnt made factory in the beginning because that wasnt what the four wheeler was made for. If you wanted to race your atv in the early 80s you had to make it race worthy yourself. After the sport caught on however the manufactures decided to make some money and build a four wheeler that didnt have to ...

Consumer Behaviour in Malaysia Essay Example | Topics and Well Written Essays - 1250 words

Consumer Behaviour in Malaysia - Essay Example (Ndubisi 2006, p17) In order to be able to take advantage of opportunities and establish strong chance at competition in Malaysia, Australian exporters should be able to understand the dynamics of the country’s consumer market because Malaysian consumers differ significantly from those in Australia. An understanding of consumer behavior, particularly, can make a difference since it impacts purchasing behavior and, therefore, marketing decisions as well. In addition, the diffusion of trends such as technological and economic is also crucial to penetrate the Malaysian market. Culture and Consumer Behavior The relationship between consumers and consumer goods is driven by several variables. Culture is one of the most important of such. McCracken’s model, which explained the movement of cultural meaning, identify possession ritual, exchange ritual, grooming ritual and divestment ritual as what dictates individual consumer behavior in the process wherein meaning is construct ed, structured and transferred in the flow of consumer goods. (Schiffman et al 2009) Ritual is the key concept at work here. Consumption becomes a symbolic activity typified by steps, behaviors and actions that became constant, occurring repeatedly over time. This underscores how culture impacts consumers. Consumer products are symbols that represent what the consumers value in products and services or what the marketers communicate as value for the buyers. Karahana, Evaristo and Strite also explained how culture impacts behavior through their own theoretical model of culture’s influence on behavior. Here, behavior is driven by attitude and social norms, variables that are produced by cognitive beliefs, cultural practices and values. (p8) Pecotich and Schultz conducted a review of studies on consumer perception on brands in Malaysia. It was found that Malaysians display specific characteristics in their attitude towards products. Specific examples were provided. For instance, in brand selection on electrical products, Malaysians were found to be motivated by the perceived best brand, favoring prestige over a product that is simply thought of as efficient or works well. (p426) This is also congruent to the tendency of Malaysian consumers to patronize celebrity-endorsed products and their loyalty to brands. According to Kacen and Lee (2002), impulse consumer buying behavior now accounts for up to 80% of all purchases in some countries and that culture plays a part as consumers engage in sudden, compelling, hedonically complex purchase decision process that precludes thoughtful, deliberate consideration of all information and choice alternatives. (p163) The argument is that culture tempers impulsive buying. This is highlighted in Malaysia by the Islamic subculture, which in turn can best be depicted through the concept of halal. In Malaysia, halal, which means what is permitted, is the norm in Islamic consumption. Consumers and their consumption are subjec t to institutionalization regulated by the Ministry of Domestic Trade and Consumer Affairs. Fischer (2008) explained that halal informs and controls ideas and practices such as wearing of gold and ornaments, wigs and hairpieces; paintings; photographs, keeping of dogs; cleanliness;

Modern Art Movement in Russia Essay Example | Topics and Well Written Essays - 2750 words

Modern Art Movement in Russia - Essay Example The essay "Modern Art Movement in Russia" investigates Russian modern art movement. Modernism thus, broadly defined all the significant social changes pertaining to arts, culture, literary writings, architecture, and religious beliefs that rebelled against the theory of realism and all other conservative traditions, which took place at the turn of the nineteenth century. The proponents of this theory felt that all traditional forms of art, architecture, religious and social norms were losing relevance in the modern industrial age, and thus must be changed. Modernism to some extent rejected the philosophy of Enlightenment, and completely denied the existence of the powerful creator, God. It questioned all the theories of the past era, and believed in the theory of self consciousness. It is this belief that led to various experiments in the field of art and led to the formation of what is known as ‘abstract art’. In Russia, this wave of modernism in the world of art, is al so known as avant-garde, and it broke away from all traditional and old forms, creating a new style that was more connected to the daily lives of the common people, encouraging works on folk art and icon painting. Till the 1910s, the Russian avant-garde movement focussed itself primarily on village life, religion, urban life; but later on as social movement became more oriented towards bringing about reforms for the industrial workers, the Russian avant-garde artists moved towards the factory settings and the frantic pace of the urban lives.

Globalization and Feminism Essay Example | Topics and Well Written Essays - 2000 words

Globalization and Feminism - Essay Example The effects of globalization on the theories of feminism establish the relationship between the capital and gender, exploitation of the women workforce. Feminism has played a significant role in the process of globalization and economic progress all over the world. From the perspective of feminism, the phenomenon of globalization has led to the discrimination of gender in terms of control over capital and resources (Hawkesworth, 2006, p.37). The male sections of the society has dominated and gained control over the majority of resources, opportunities of livelihood and employment. There are, however, instances where the women have been able to grab the opportunities in the course of economic progress, a major section of the women labour force have lost control over their work in the process of globalization. Women have obtained job opportunities in the skilled areas of Information Technology, Computer software, etc, the semi and unskilled women labours, agricultural workers have lost their occupation to the forces of globalization. Discussion: globalization and feminism The theories of feminism are based primarily on two basic assumptions. ... On one side, when the increase in participation of women in the labour force have created job opportunities and provided a means of livelihood and independence to women, the women on the other hand has also been subjected to discrimination and humiliation. The women in the Middle-East are hired as working maids for the families in order to support the homemakers of the family. Thus the engagement of a woman labour for the help of another woman is an act of exploitation (Sarkar, 2007, p.5). The rise in the income level of the families due to the phenomenon of globalization has provided jobs to the women section of the society and at the same time increased their possibility of exploitation apart from providing them economic freedom. Globalization has produced new discourse in various field of occupation. The involvement of several sections of the society has produced new instances in the field of politics. The feminists believe that the phenomenon of globalization has not been able to produce a condition of equality among the men and the women. There have been various landmark initiatives in the political course of action like the increase in the number of women representatives in the parliament, activities for ensuring women rights, education and livelihood for women, etc. Although the economic and political scenario has changed in the process of globalization, the exploitation and the discrimination towards women have not changed to a great deal (Beneria, 2003, p.47). The process of globalization is challenged by the various political and social resistances. The cultural and religious roots of the society could not easily be transformed and the spread of economic activities as globalization

Importance of Cost Reduction and Control

Importance of Cost Reduction and Control Assignment on financial principles and techniques Introduction Strategic investment decision making indicates the process of identifying, evaluating, and selecting among projects which are more likely to have significant effect on the organizations competitive advantage. More clearly, the decision influences what the organization does (i.e., the set of product and service attributes that are offerings of the organization), where it does it (i.e., the structural characteristics that determine the scope and geographical dispersion of organizations operations), and how it does it (i.e., the set of operating processes and work practice).The strategic investment decision making process is arguably one of senior management greatest challenges. It is significantly needed to get these decisions right. If the decision is successful, the firm can enjoy strategic as well as operational advantage. But while the decision proves wrong, either a potential opportunity is lost or it has needlessly spoiled substantial resources (through fruitless investment). Som e traditional approaches to strategic investment appraisals which include payback, accounting rate of return, return on investment, residual income, and discounted cash flow have been criticized on the basis of a number of grounds. Some main criticisms are their narrow perspective, exclusion of nonfinancial benefits, overemphasis on the short-term, faulty assumptions about the status quo, inconsistent treatment of inflation, and promotion of non-value adding behavior. Task 1 Cost Reduction Techniques. Cost reduction means reducing cost associated with production or other cost activities without affecting the quality of product or service as well as activities. Through cost reduction procedures or techniques managers reduce cost. For this they develop different cost reduction techniques. The success of any organization largely depends on how strategically cost is managed compared with that of competitors. It certainly provides competitive advantage which is essential in this hyper competitive market or business world. As the manager is the higher authority of any organization, they are to develop different types of policies and strategies to run the business successfully. Processes of Cost Reduction: Identify the Saving Make your prediction on saving Measure the process prior to adjustment Make the cost saving change Measure the process after Confirm saving has been made and it hasnt impacted other areas to make a loss. If YES move onto next project. If NO go back to the beginning and start again. Appropriate Costing System: Cost that is allocated to units of production can be actual cost or standard cost. In an actual or historical cost system, cost is allocated as they occur. Under standard costing system, product operations and process are costed through using standard for both activities and dollar amount. These standards are predetermined in advance of production. The actual cost system and standard cost system can be used with either job order or process cost accumulation approaches. Job order costing is applied to job order work in factories, workshops and repair shops as well as to work by builders, construction engineers and printers. A variation of the job order cost method is that of costing orders by lots. In the shoe manufacturing companies for example, a contract is typically divided into lots which consists of 100 to 250 pairs of one size and style of shoe. The cost is then accumulated for each lot. On the other hand, the process cost system is applied to industries such as flour mills, br eweries, chemical plants and textile factories. However there are many companies that use both job order and process costing according to their needs. The basic difference between job order costing and process costing is the breadth of the denominator. The denominator of job order costing system is small (e.g.: one painting 100 advertising circulars, one special package machine or one highway bridge). But in the case of process costing, the denominator is large (e.g.: thousands of pounds, gallons or board feet.). Task 2 The importance of developing cost reduction techniques: It helps to enhance management performance or efficiency It helps to know the nature of cost It helps to reduce the cost of operations of the organization It helps to set competitive price of product or service It helps to increase market share in the industry It helps to increase profit or return It helps to enjoy competitive advantage over competitors Proposed costing and pricing systems Basis of Costing Methods Material cost Labor cost Overhead cost Opportunity cost Structure of Costing Costing principles and methodology Fixed and variable cost Direct cost (material and labor) Indirect cost (overhead and activity based costing) Product cost and periodic cost Product cost and sales cost Actual Costing To set actual cost To change to actual cost To analyze variance Evaluation of Project Breakeven analysis Marginal contribution Opportunity cost Payback NPV,DCF, IRR ROI ROC Project Case Pricing How to cost project correctly How to get project approve What cost to exclude Essential cost to include A business case proposal Preparing a Master Budget Master budget is a comprehensive planning document which incorporates several other individual budgets. The operation budget consists of eight individual budgets which are as follows: Sales budget: The sales budget shows the expected sales in units at their expected selling price in a certain period of time. A business firm generally prepares the sales budget for a given period of time on the basis forecasted sales level, production capacity, as well as long and short term goals. Production Budget: Production budget is a plan for obtaining the resources needed to carry out the manufacturing operations of the organization to meet up the expected sales and maintain the expected level of ending inventory. The current production level depends on sales level, units of finished goods ending and beginning inventory. Direct Material Budget: The directed material budget shows the direct materials business firm needs for its production and the budgeted cost. This budget is very much related to production budget. Direct Labor Budget: To prepare direct labor budget and the direct materials budget, production budget is needed. It helps personnel department of the organization to plan for new hires and repositioning of employees. A good labor budget is very helpful for a business firm to avoid urgent hiring and help to prevent the shortage of labor. Factory Overhead Budget: This budget includes all the production costs except for direct materials and direct labor budgets. Manufacturing cost is the cost that varies in direct proportion with the manufactured units and how the business firm carries out its operation. Selling and administrative expenses budget: This type of budget indicates a plan for all non-manufacturing expenses. This budget provides you with a guideline for selling and administrative activities for the period of your budget. Budgeted income Statement: Budgeted income statement is the last part of operational of a master budget. It actually estimates the expected operating income from budgeted operations in a certain period of time. The second part of master budget includes financial budget and financial budget is the combination of following two individual budgets: Cash Budget: A cash budget shows the effect/impact of all the budgeted activities on cash. Through preparing a cash budget, the management of a business firm is supposed to be able to make sure that they have sufficient cash on hand needed to carry out activities. It also helps them to have enough time to plan for any additional financing and plan for investment of surplus cash. Budgeted Balance Sheet: Budgeted balance sheet is the last part in preparing master budget. This budgeted balance sheet shows the expected financial position at the end of the fiscal year (at a point of time) or budget period. It is very important to understand how to prepare a master budget since it helps a business to maximize its profit/return and to have a good handle on their budget period. Potential for the Use of Activity Based Costing ABC system provides highly accurate product or customer cost that a company can use for strategic decision. This system helps to understand the cause effects relationship between day to day activities and product or customer cost and theory aids the operational control purpose of cost management system. Task 3 Calculation of ratio Ratio analysis of Amber Lights ltd for two years is as follows: Last Year a) Return on capital employed = Net Profit/Total capital = 8000/109000 = 7.34% b) Return on ordinary shareholders fund = Net profit/ ordinary shareholders fund =8000/16000 =50% c) Gross profit margin = Gross profit/Net sales = 92000/350000 =26.29% d) Net profit margin = Net profit/Net sales =8000/350000 =2.29% e) Current ratio = Current asset/current liabilities =110000/50000 =2.2:1 f) Acid test ratio =C.A-Closing stock/ current liabilities =110-44/50 =1.32:1 g) Average stock turnover period =Cost of sales/Average Inventory =258000/44000 =5.86 times Period =360/5.86 =61.43 days This Year a) Return on capital employed = Net Profit/Total capital = 12000/117000 = 10.26% b) Return on ordinary shareholders fund = Net profit/ ordinary shareholders fund = 12000/16000 =75% c) Gross profit margin = Gross profit/Net sales =110000/420000 =26.19% d) Net profit margin = Net profit/Net sales =12000/420000 =2.86% e) Current ratio = Current asset/current liabilities =136000/92000 =1.48:1 f) Acid test ratio =C.A-Closing stock/ current liabilities =136000-63000/92000 =.79:1 g) Average stock turnover period =Cost of sales/Average Inventory =310000/63000 =4.92 times Period =360/4.92 Analysis of Operating Efficiency and Profitability The given ratio of Amber Lights ltd. indicates two types of ratio including operating efficiency and profitability. The operating profitability ratio indicates that return on capital employed ratio of last year is 10.26% and this year is 7.34%, return on ordinary shareholders fund ratio of last year is 50% and this year is 75%, gross profit margin of last year is 26.29% and this year is 26.19%, on the other hand, net profit margin ratio is 2.29% and this year is 2.86%.So we can say from the above discussion that operating profitability of two year is very close except ordinary shareholder fund. So this year performance is better than last year. We also see from the operating efficiency ratio that current ratio of last year is 2.20:1 and current year is 1.48:1, acid test ratio of last year is 1.32:1 and current year is .79:1, and average stock turn over period of last year is 61.43 days and this year is 73.17 days. From the given data of last year and the current year of Amber Lights ltd we find that last year performance is better than this year. So from the given data analysis we can say that last year operating efficiency was better than that of current year. Limitation of Ratio Analysis: Although ratio analysis provides important implications, there are some limitations of ratio analysis. The main limitations of ratio analysis are given below: Accounting treatment varies between firms Firms with different divisions operating in different industries make it difficult to find industry ratio analysis Some Results may be in consistent Ratios which are outside an industry range might be cause of much concern. Task 4 Financial Appraisal Methods There are several different appraisal methods and each of those methods has its particular applications, advantages and drawbacks. Simple Payback This is one of the simplest and widely recognized methods of cost/benefit analysis. Payback period is defined as the length of time required to recover the original investment on the project, through cash flows. The cash flows include operating profit, less income tax payable, plus depreciation. Internal Rate of Return It can be said that it is the mostly used method for the financial evaluation of a companys investment. The internal rate of return (IRR) can be defined as the rate of return required to make the present value of future cash flows plus the final market value of the investment, equal to the current market price for the investment. Actually it is a discount rate making the net present value equal to zero. Average Rate of Return The average rate of return is calculated profit after tax divided by book value of investment. Under this method, the entire life of any project is considered. Net Present Value Net present value is one of the discounted cash flow techniques. This method considers time value of money. It is calculated as present value of future cash inflows over the life of the project less present value of cash outflows. Benefit Cost Ratio Benefit cost ratio is another version of net present approach. Under this approach, the benefits from the project are reduced to their present value at a specified rate of discount and this figure is divided by the present value of the cost of the project. Discounted Cash Flow This approach actually represents what a company is willing to pay at the present (today) to receive anticipated cash flow in future years. So it is a process of converting future earnings into todays money. Future cash flows are discounted to demonstrate their present values and determine the value of the project. These are well established and understood appraisal tools to financially evaluate projects. All appraisal methods are not supposed to provide the same result. Increasingly, with the creation of stakeholder value being determined by an organizations environmental and social policies and values, new criteria and perspectives will have to be factored into organizations decision-making process. Strategic Issues in Making Investment Decisions The prime objective of every business organization is to make money for the owners now and in the future. Investment decision plays a significant role in making investment decisions. Both quantitative as well as qualitative issues must be considered in decision making. Short-term decisions are relatively easy on the quantitative side: Would you rather spend $10,000 or $15,000 given the same revenue? Would you rather sell something for $5.00 per unit or $7.00 per unit given the same costs? Would you rather have net income of $60,000 or $50,000? Long-term (investment) decision involves two additional dimensions as follows: Timing Magnitude Discounted Cash Flow Analysis addresses the timing issue. Discounted Cash Flows (DCF Analysis) A dollar today is worth more than a dollar in the future. A dollar in the future is worth less than a dollar today. Steps to DCF To determine future cash flows To determine the appropriate discount rate Higher discount rate = lower present value Lower discount rate = higher present value High risk generally requires greater return Higher risk = higher discount rate Discount the future cash flows by using the selected hurdle rate Compare the present value of the future cash flows to the investment If PV of inflows > PV of outflows, project is acceptable If PV of inflows < PV of outflows, project is rejected NPV = PV of all Inflows PV of all outflows Tools of DCF: PV = to compute the present value of single future amount or a set annuity using a given particular discount rate FV = to compute the future value of a single present amount or a set annuity given a particular discount rate Rate = to computes the particular discount rate needed to convert a present value to a future value or a future value to a present value NPV = to computes the net present value of a series of dissimilar future cash flows given a particular discount (hurdle) rate If NPV > 0, the investment is acceptable If NPV < 0, the investment is rejected IRR = computes the discount (hurdle) rate which makes net present value equal to zero. If IRR > the hurdle rate, the investment is acceptable If IRR < the hurdle rate, the investment is rejected Example: Suppose, company XYZ wants to make investment decision of $ 200000 for a project. The company must justify the PV of cash inflows and compare it with the cash outflows. If the value of PV is greater than cash outflow then the company should accept the project. Conclusion: Cost concept is very essential for decision making process. As the manager is the higher authority of any organization, they are to develop different types of policies and strategy to run the business successfully. So development of cost reduction procedures is one of the most important strategies. It is very important to develop cost reduction procedures because it increases the profit of the firm through reducing cost of production. If the manager cannot control cost their operating expense will be higher and higher and therefore reducing the profit of the firm. A firm which can not control cost cannot sustain in the competitive business world. So to make proper investment decisions financial managers should have clear knowledge about financial principles and techniques for better performance.

The beginning :: essays research papers

During my childhood and adolescent years I grew up in very small town. I can remember thinking that I knew everyone and that everyone knew me, and if the truth were known, the majority of them did. I guess this is where you could say that my memories of literacy began. As a child I can remember myself, and many other members of my community not having the literacy skills that most of those who visited or passed through our town did. The folks that passed through were proper whereas those of us who lived in the town seemed as if we had never been outside of our little town, ever. You hear people joke about using words such as: ain’t, won’t to, aren’tcha, and so forth. Well, those were actual words used on a day-to-day basis in my hometown, and let’s not forget all the double negatives used. As a child I can remember using the same words myself.   Ã‚  Ã‚  Ã‚  Ã‚  It wasn’t until I began to meet people outside of my circle of friends and neighbors that I realized that not only was our town small and living back in the 1950s still, but the majority of our citizens were uneducated adults who did not know any better. I became interested in books at an early age I would say. While all my friends were outside playing in the woods or riding go carts I would be inside looking at Highlight magazines or reading some of the books that my mother had bought for me at a yard sale one Saturday. I can remember the day that my parents bought my sister and I a set of encyclopedias, which came with two bonus sets. One set was a children’s set of encyclopedias and the other was a set of 8-thick, colorful hardback books. My sister and I just sat there as my parents put them in a glass stand that my mother had. One by one the put them in as while doing so they told each of us that inside each book contained many adventures for us to embark upon.   Ã‚  Ã‚  Ã‚  Ã‚  I can remember loving those books so much. I can remember reading them even when I didn’t have to look something up from them in school. There was such a sense of security and safety behind those books that I could look through them for hours upon hours, and then racing to beat my sister at telling my parents what I had read about.