Do present weaning methods contribute to the onset of stereotypical Dissertation

Do present weaning methods contribute to the onset of stereotypical behaviours in horses - Dissertation Example While all animal behaviour is extremely complex in nature, the causes of stereotypic behaviour in horses have been especially elusive. One suggested cause for these behaviours has been the changes and stressors a foal undergoes at the point of weaning the foal from the mother's milk (Waran et al., 2007). There are many stressors that affect a foal surrounding the experience of weaning. It is a logical extrapolation that these stressors may continue to affect the personality and behaviour of a horse into adulthood. Therefore, reducing the presence of these unwanted behaviours could be done by reducing the stress level of the weanling. There are multiple methods of weaning, all with their positive and negative points. Current suggested methods of weaning cover procedures from the very rapid and sudden to the very long-term (Householder, 2003). A clear layout of these methods is necessary to compare them and determine the least stressful option. 1.1 Hypothesis and Study Objectives The p urpose of this study is to determine the least stressful method of horse weaning, in order to ease weaning stress on horse behaviour and so reduce certain unwanted stereotypic behaviours To achieve this purpose, there are four objectives that must be met: 1. Determination of the behaviours of concern 2. Analysis of current weaning methods 3. Determination of factors involved in weaning stress, including the environment 4. Comparison of weaning methods and determination of least stressful Due to the correlation between the start of unwanted stereotypic behaviours and the process of weaning, the initial hypothesis is that these stereotypic behaviours are related to abrupt weaning methods, and that a more gradual method will produce lower levels of this behaviour. 1.2 Study Rationale Caring for and training of horses is made much more difficult if those horses are prone to stereotypic disruptive behaviour. One known cause for unwanted repetitive behaviour in performance horses is chron ically high stress, which affects the horse's overall health and it's temperament (King, 2006). While many stressors in a horse's life are on-going and can be relatively minor, weaning only happens once but may be extremely distressing, depending on the horse and the weaning method (Householder, 2003). However, early and efficient weaning, with the minimum of stress to the mare is important in breeding, as it means that the mare will be able to produce her next foal that much sooner (Stull, 1997). If the stress levels at the time of weaning could be lowered, it would be a large step toward happier and healthier horses. But until we know what method of weaning will cause the least stress and what the long-term effects of available methods on behaviour would be, changing methods may actually be more detrimental, as that would essentially be a shot in the dark as to effectiveness and safety. Therefore, this study proposes to determine that least stressful method of weaning, which could have the end result of lowering the horse's stress levels throughout its life. 2 Effects of Stress on Horses High levels of stress in horses can trigger a series of hormonal and physical effects in the body, known as the â€Å"

Victoria Chemicals plc-Merseyside and Rotterdam Projects Case Study

Victoria Chemicals plc-Merseyside and Rotterdam Projects - Case Study Example James Fawn the vice president of the Intermediate Chemicals Group (ICG) and John Camperdown, the financial analyst met to review the two projects. The proposals submitted by plant managers from both Liverpool and Rotterdam required an expansion of the polypropylene output of the respective plants by 7%. The strategic analysts in Victoria Chemicals held the view that an increase in polypropylene by 14% would not make sense though a 7% would do. This would compel them to approve one of the projects. The rational analytical process to use in extricating the ambiguities of the present measures of investment attractiveness of the two projects will be done through a thorough analysis and evaluation in terms of their net present value, payback, growth in earnings per share and internal rate of return to determine which of them is attractive for investment. After the evaluation, the best project based on its attractiveness will be chosen. 1. The proposal from Merseyside, Liverpool This proje ct would retain its flexibility in order to add technology in the future. The investment criterion for this project is as follows: Average annual addition to EPS GBP 0.22 Payback period 3.8 years Net Present Value GBP 10.5 million Internal rate of return 24% The contribution to net income for the project is a positive one. This is based on the calculation carried out by the average annual earnings per share contribution of the project over the economic life of the project using the number of outstanding shares at the recent financial year. The payback period which is the number of years which are necessary for free cash flow of the project to amortize the initial project outlay completely for the project is within the maximum payback period which is six years. The Net Present Value of the company is positive an indication of a better performing project. The internal rate of return of the project which is 24% is more than 10% and this is an indication of how attractive the project is . A summary of the performance of the Merseyside project is as follows 2008 2009 2010 2011 2012 Output 267,500 267,500 267,500 267,500 267,500 New Gross Profit 21.72 24.83 24.83 24.83 24.93 Old output 250,000 250,000 250,000 250,000 250,000 Free cash flow 1.27 3.92 3.86 3.77 3.08 Incremental gross profit 2.32 5.42 5.42 5.42 5.42 Based on the above analysis, it is quite evident that Merseyside project is quite attractive in terms of its performance and this makes it a good project for investment. The Merseyside project will be of great help to Victoria Chemicals as it would lead to an increase in free cash flow, increase in gross profit and increase in output for the company. The increase in output would see the company operate in full efficiency and to remain competitive in the market. Even though the Merseyside project seems promising in terms of output and return, the plant operations will be disrupted in the course of upgrading the technology in the company which will then affect the total output of the company. The period at which the plant will not be operating will mean that the company will temporarily lose its business from the close of the customers. The temporal close of business and clients may be a cost to pay by the company as it may end up losing the customers due to the inconveniences caused. The table below shows the assumptions made towards the DCF Analysis of the Merseyside Project: Annual output in metric tons 250,000 Output gain 7% Gross margin rate 12.5% The gross margin rate and the output gain are standard and this means that the company (Victoria Chemicals) will not take a long time before it enjoys the full benefits of the investment. This