Ventures, The

From an overall economic viewpoint, any investment proposal may be considered as an activity which initially absorbs funds and later generates money. The funds may be raised from loan capital or from shareholders capital, and the net (after tax and costs) money generated may be used to repay interest on loans and loan capital, with the balance being due to the shareholders. The shareholders profit can either be paid out as dividends, or reinvested in the company to fund the existing venture or new ventures. The following diagram indicates the overall flow of funds for a proposed project. The detailed cash movements are contained within the box labelled the project . 

In multiyear process ventures, the money flows are more compHcated and must be discounted to a common point in time before they can be combined. However, the three basic parameters, investment, return, and rate of return, should be retained in some logical and consistent manner. 

Multiyear Process Ventures. The economics of a proposed process venture, from initial development through final shutdown, should be... 

Risk and uncertainty associated with each venture should translate, ia theory, iato a minimum acceptable net return rate for that venture. Whereas this translation is often accompHshed implicitly by an experienced manager, any formal procedure suffers from the lack of an equation relating the NRR to risk, as well as the lack of suitable risk data. A weaker alternative is the selection of a minimum acceptable net return rate averaged for a class of proposed ventures. The needed database, from a collection of previous process ventures, consists of NPV, iavestment, venture life, inflation, process novelty, decision (acceptance or rejection), and result data. 

Fig. 6. Effect of investment on profitabiUty. Venture G has a larger investment and sales revenue than Venture A (see Table 4). NPV at 10%, operating lifetime, and IRR are the same for both ventures. The diagram indicates that the profitabiUty of Venture G, as indicated by NRR, is smaller than that for...

M. W. Kellogg has developed a new teehnology in die syndiesis of ammonia. They employ a rudienium on graphite as the eatalyst on Kellogg Advaneed Ammonia Proeess (KAAP). The proeess is the first to employ a non-iron based eatalyst and was eo-developed with British Petroleum Ventures. The KAAP has been eommereialized sinee 1994, and has been used in an inereasing number of projeets. 

A technology agreement was made by Duracell/Toshiba/Varta in 1992, strategically aimed at the portable computer field. In 1994 a joint venture, "The 3 C Alliance" was formed. Standardization of the inventory was the main point. The benefits were seen to be easier replacement and lower cost per unit ( 170 for 6 h ). One of the first commercial partners was Compaq Computer Co. 

Data on nonfatal injuries or chronic diseases caused by chemicals are very difficult to collect. Far too often, it is gathered from reports of compensation Commissions or court decisions in which legal rather than scientific proof prevails. One might venture the guess that at least as many injuries and chronic conditions are caused by synthetic medicaments used improperly, or without adequate medical control, as are caused by the ordinary products of the chemical manufacturing industry. 

In 1974, after failure and indications of failure of three commercial reprocessing ventures, the AEC reassigned programs for support of commercial fuel reprocessing to emphasize successful experience and lessons learned from that experience. Responsibilities were transferred from the AEC Division of Reactor Development and Oak Ridge National Laboratory with their pilot plant reprocessing model, to the Division of Production and DuPont Company-operated SRP with their safe, successful production-scale reprocessing experience. 

U.S. Department of Energy and Wabash River Coal Gasification Project Joint Venture, The Wabash River Coal Gasification Repowering Project—A 262 MWe Commercial Scale Integrated Gasification Combined Cycle Power Plant (An Update) Topical Report Number 20, September 2000. 

In the mid to late 1940 s polymer chemistry was "raised" to the status of optional material for certain academic courses in chemistry. Polymer chemistry was generally considered to be within the realm of organic chemistry and only a few ventured the inclusion of polymer topics in physical chemistry and fewer still considered it beyond these two areas. 

When a company invests in a venture, the investment must earn more than the cost of capital for it to be worthwhile. A profitability estimate is an attempt to quantify the desirability of taking a risk in a venture. 

The minimum acceptable rate of return (MARK) for a venture depends on a number of factors such as interest rate, cost of capital, availability of capital, degree of risk, economic project life, and other competing projects. Management will a(bust the MARK depending on any of the above factors to screen out the more attractive ventures. When a company invests in a venture, the investment must earn more than the cost of capital and should be able to pay dividends. 

Reflection on this process can reveal how you perceive your strengths and limitations. You will probably be aware of many of the factors that lead you to shape your venture the way you do some you will be less aware of. Critical selfreflection on your choices at a later stage may be necessary to bring these less conscious influences to light. 

One critical starting condition for a development project is that you treat it as a personal venture. The task or project should be something that you want to do, that you believe is worthwhile and which achieves some outcome that you care about. 

Even when no coalition is formed, the possibility that one might be formed can shape the outcome of bargaining. Suppose that a number of people are bargaining over how to distribute the benefits from a cooperative venture and that a certain distribution is proposed. If a smaller coalition in the group can do better for itself by withdrawing from the joint venture to set up its own, smaller venture, the proposed distribution will not be accepted. An acceptable or stable distribution is one that creates no incentive to withdraw for any coalition. Sometimes there are many distributions with this property further bargaining must then lake place to determine which of them shall be realized. Sometimes there are no distributions with this property. An example is... 

Whiplash. South African air-to-air missile, in production. Development started in 1966 of a missile that was said, by the South African Minister of Defense in 1969, to be purely a South African venture. The missile was tested successfully at the St Lucia missile range in 1969, and in Sept 1971 a missile launched from a Mirage III fighter successfully attacked a target flying at Mach 2. Limited production is believed to have started in late 1972, under the name Whiplash... 

As mentioned above, the approach of PAUR was complemented by aircraft measurements of J(0 D) and spectral radiation as part of a joint PAUR-ATOP venture. The aircraft performed 4 flights (on the 10, 11 and 13.6.1998) where J(0 D) and UV... 

The Chemithon Corporation has patented a novel venture reactor.34,35 The organic to be sul-fonated is injected into a stream of gas containing S03 at a venture. The reaction mixture is quenched and recycled downstream until sulfonation is complete. The reactor design can be used for highly viscous, high molecular weight specialty surfactants for industrial applications such as lubrication oil additives. 

However, at the time that Priestley s experimental error was pointed out to him, Watt insisted that it did not destroy his theory about the nature of water. While Priestley ventured the observation that his discovery of the error utterly ruined your beautiful hypothesis ,89 Watt denied that that was the case ... 

A business case is required to justify the allocation of time, money, and energy needed to make your innovation a successful venture. The business case should be a compelling summary for why the project is necessary and... 

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