Louis Armstrong

Louis Armstrong (1901-1971) remains a pivotal figure in American culture nearly thirty-five years after his death.   In his twenties and thirties, he was one of jazz’s foremost innovators, elevating the instrumental solo to a new and important role and helping invent the jazz style of singing.   Later in life, he became a widely popular entertainer rather than an innovator, a sort of â€Å"living legend† who preserved the music of yesteryear and projected a friendly, comical, widely imitated persona by which he is still remembered. Louis Armstrong was born in a poor section of New Orleans on 4 August 1901 but was unaware of his actual birthdate throughout his life.   He always claimed to be born on 4 July 1900, and this was accepted as fact until researchers found a birth certificate long after Armstrong’s death (Wikipedia). Fatherless and virtually motherless (his mother was a part-time prostitute who left him in his older sister’s care), he received little schooling and worked a series of menial jobs from an early age, including delivering coal and working for a family of Jewish junk merchants.   Despite a harsh, impoverished childhood in one of New Orleans’ most crime-ridden neighborhoods, he developed the optimistic personality that many Americans recognize. His musical training began at New Orleans’ Colored Waifs Home, where Armstrong was sent in early 1913 for firing a pistol in the air during a New Year’s Eve celebration.   During his 17 months at the home, he received instruction on the cornet and later recalled, â€Å"The place was more like a health center or a boarding school than a boys’ jail,† though the home was known for its harsh, militaristic discipline (Bergreen 73). After his release, he joined the city’s fertile musical community by performing in local jazz bands under Fate Marable (who taught him his strong professional ethic) and Kid Ory, as well as on riverboats. After meeting Joseph â€Å"King† Oliver and joining his pioneering jazz band, Armstrong became an exceptionally skilled instrumentalist and traveled to Chicago with Oliver, where he began recording in 1922 and went on his own within a few years. After leaving King Oliver’s band, Armstrong’s career flourished.   Biographer Laurence Bergreen writes, †It was as though Louis had taken [jazz] out of its infancy and given it a powerful breath of new life and independence† (Bergreen 200).   He formed a series of bands, most notably the Hot Five, with whom he had numerous hits (the first being â€Å"Muskrat Ramble† in 1926) and displayed his improvisational and interpretive skills.   Though he began as a trumpeter, he began singing as well during this period, using his unconventional, gravelly voice to develop scat singing, which other jazz artists adopted. He attained especially high standing among other jazz musicians for his virtuosity and ability to translate jazz (formerly the music of New Orleans’ street parades and dives) to records.   Bergreen notes that Armstrong â€Å"was the first important jazz musician to anticipate that his legacy would be actual recordings, not half-forgotten memories† (Bergreen 219), showing a shrewd side of his personality because early jazz artists (like its supposed creator, Buddy Bolden) were never able to reach a wider audience simply through live performance. After World War II, Armstrong was no longer a cutting-edge innovator, since jazz had by now evolved away from its New Orleans roots and transformed into swing and bebop.   However, says Bergreen, Armstrong â€Å"carved himself a unique niche in the music world . . . as a newly minted traditionalist† (Bergreen 433).   He began performing not only the New Orleans â€Å"hot† jazz he helped create but also pop, blues, Tin Pan Alley, and show tunes, winning him great popularity with the public but critical scorn. According to music critic Gary Giddins, â€Å"he was excoriated for playing pop tunes, fronting a swing band, appearing with media starts, sticking to a standardized repertory, engaging in vaudeville routines . . . mugging, entertaining† (Giddins 4).   However, this second phase of his career is as important as the first, since he never lost stature among his peers, produced some vital work (especially his collaborations with Ella Fitzgerald), and won an even wider following late in life. Armstrong was largely apolitical but strongly supported the civil rights movement, having experienced the effects of segregation his entire life.   He harshly criticized Dwight Eisenhower’s perceived inaction during the 1957 Little Rock school integration crisis, called Arkansas’ segregationist governor Orval Faubus â€Å"ignorant,† and snubbed the federal government by refusing to participate in a government-sponsored tour of the Soviet Union in 1958 (Wikipedia).   His warm, effusive, laid-back personality and friendliness toward people regardless of race led some to incorrectly dub him an â€Å"Uncle Tom,† though he generally refused to make race a personal issue. Armstrong essentially left two legacies – as innovator and entertainer.   Before reaching middle age, Armstrong’s accomplishments included his helping define jazz in its earliest years, as well as making the solo an important element of modern music.   In addition, he helped define jazz vocals and popularize scat singing, long a key element of jazz. After age forty, his second legacy was his familiarity to the American public and abroad, and he cared little about how some critics dismissed him for joining the cultural mainstream.   According to Giddins, Armstrong played almost any kind of material because he knew â€Å"that no song could diminish him and that he could lift most songs beyond their earthy calling† (Giddins 4).   According to Bergreen, â€Å"He was not just America’s greatest musical performer, he was also a character of epic proportions† (Bergreen 1).   More than thirty years after his death, Louis Armstrong remains one of the most recognizable Americans, hailed as both a creator and performer more than thirty years after his death. REFERENCES Anonymous.   †Louis Armstrong.†Ã‚   Wikipedia.   4 November 2005.   . Bergreen, Laurence.   Louis Armstrong: An Extravagant Life.   New York: Broadway Books, 1997. Giddins, Gary.   Satchmo: The Genius of Louis Armstrong.   New York: Da Capo Press, 1988.      

Test Bank Ch8 3616 Butler

PART IV Managing the Risks of Multinational Operations Chapter 9 The Rationale for Hedging Currency Risk True/False 1. In a perfect financial market, financial contracts are zero-NPV investments. ANS: True. 2. If hedging currency risk is to add value to the stakeholders of the firm, then hedging must impact either expected future cash flows or the cost of capital or both. ANS: True. 3. If financial markets are informationally efficient, then corporate financial policy is irrelevant. ANS: False. Don’t confuse informational efficiency with a perfect market.Although the perfect market conditions ensure informational efficiency, informationally efficient markets can be imperfect. 4. Perfect financial markets are a necessary condition for corporate risk hedging to have value. ANS: False. Market imperfections are necessary conditions. 5. In perfect financial markets, corporate financial policy is irrelevant. ANS: True. 6. In a perfect financial market, the law of one price holds. AN S: True. 7. Equal access to perfect financial markets ensures that individual investors can replicate any financial action that the firm can take. ANS: True. 8.In perfect financial markets, corporate hedging policy has no value. ANS: True. 9. In perfect financial markets, corporate investment policy is irrelevant. ANS: False. Firm value depends entirely on the firm’s investments in a perfect financial market. 10. If corporate financial policy is to have value, then at least one of the perfect market assumptions cannot hold. ANS: True. 11. Real-world financial markets are perfect markets. ANS: False. Perfect markets are a theoretical ideal and not a practical reality. 12. Market imperfections are greater across national boundaries than within national boundaries.ANS: True. 13. In perfect financial markets, multinational corporations have an advantage over domestic firms in financing their investments. ANS: False. The law of one price holds in perfect financial markets. 14. Mul tinationals have a comparative advantage over domestic firms in exploiting cross-border differences in financial markets. ANS: True. 15. Progressive taxation is a system in which larger taxable incomes receive a higher tax rate. ANS: True. 16. Tax preference items are goods that are sold on a tax-free basis. ANS: False.Tax preference items are items such as tax loss carryforwards and carrybacks and investment tax credits that are used to shield corporate taxable income from taxes. 17. A call option is an option to buy an underlying asset at a predetermined price. ANS: True. 18. A call option is an option to â€Å"call in† or demand payment on a loan. ANS: False. A call option is an option to buy an underlying asset at a predetermined price. 19. Indirect financial distress costs are relatively unimportant for firms selling products for which quality and after-sale service are important.ANS: False. Reputation is easily eroded in these instances. 20. Managerial gamesmanship is l east prevalent during financial distress. ANS: False. Gamesmanship is more prevalent during hard times. 21. Option values increase with an increase in the volatility of the underlying asset. ANS: True. 22. A decrease in the variability of firm value is good news for debt and bad news for the equity call option, other things held constant. ANS: True. 23. Corporate hedging of business risk unambiguously increases shareholder wealth when the firm is in financial distress. ANS: False.Because debtholders have first claim on corporate assets, corporate hedging of business risk helps debtholders first and may or may not help equityholders. 24. In the real world, corporate hedging policy can change expected future cash flows but is unlikely to reduce the cost of debt. ANS: False. Hedging policy can decrease the variability of firm value and can thus reduce the risk of debt and the required return charged by debtholders. 25. Direct costs of financial distress are far more important to corpor ate hedging decisions than are indirect costs. ANS: False.The indirect costs of financial distress influence the activities of firms not just in bankruptcy but prior to bankruptcy as well. 26. Underinvestment occurs when debtholders refuse to invest additional capital into the firm during financial distress. ANS: False. Underinvestment occurs when equity foregoes positive-NPV investments. 27. In financial distress, equity has an incentive to take on large risks in order to increase the value of the equity call option. ANS: True. 28. In Miller-Modigliani’s perfect world, the firm’s optimal investment criterion is â€Å"Accept all positive-NPV projects. ANS: True. 29. In practice, management’s objective is to maximize shareholder wealth. ANS: False. Managers act nominally as equity’s agents but, in actuality, in their own best interests. 30. Managers have little incentive to hedge company-specific risks. ANS: False. As undiversified stakeholders, managers are concerned with both systematic and unsystematic risk. 31. Managers have an incentive to hedge their unit’s transaction exposure to currency risk. ANS: True. 32. Hedging can increase firm value by reducing the costs of agency conflicts between managers and shareholders.ANS: True. 33. Exchange-traded options and futures contracts have a fixed cost per contract so that costs are proportional to the number of contracts traded. ANS: True. 34. The costs of hedging through operations are likely to be less burdensome for a large multinational corporation with diversified operations than for a small, less-diversified firm. ANS: True. Multiple Choice 1. The perfect market assumptions include each of the following except ____. a. equal access to market prices b. equal access to costless information c. frictionless markets d. rational investors e. table governments ANS: E 2. Frictionless financial markets could have which of the following? a. agency costs b. bid-ask spreads c. broker age fees d. government intervention e. irrational investors ANS: E 3. Which risk management guidelines in a) through d) is not recommended by the Group of Thirty Global Derivatives Study Group? a. assess the credit risk arising from derivatives activities b. combine authority over trading and bookkeeping functions into a single department c. quantify market risk under adverse market conditions and perform stress tests d. alue derivatives positions at market e. all of the above are recommended ANS: B 4. Which of a) through d) is unlikely to result in a decision to hedge currency risk? a. bid-ask spreads on foreign exchange b. costs of financial distress c. differential taxes on income from different tax jurisdictions d. stakeholder game-playing e. all of the above are incentives to hedge ANS:A 5. Which of the following factors does not contribute to tax schedule convexity? a. Alternative Minimum Tax (AMT) rules in the United States b. progressive taxation c. sales taxes d. ax prefere nce items e. all of the above contribute to tax schedule convexity ANS: C 6. Indirect costs of financial distress impact the firm in each of the following ways except ____. a. higher financial costs b. higher legal costs in bankruptcy c. higher operating costs d. lower revenues e. stakeholder gamesmanship ANS: B 7. Which of statements a) through c) regarding costs of financial distress is false? a. Both debt and equity unambiguously benefit from corporate risk hedging. b. Hedging can increase expected cash flows by reducing the costs of financial distress. c.Hedging can reduce debtholders’ required return and hence the cost of capital to the firm. d. All of the above are ANS: True. e. None of the above are ANS: True. ANS: A 8. Which of the following was most responsible for the collapse of Barings Bank? a. bankruptcy proceedings b. failure to monitor the activities of its traders c. index arbitrage d. index futures and options trading e. the 1991 fall in share prices on the T okyo stock exchange ANS: B 9. Management has an incentive to hedge which of the following exposures? a. operating exposure b. transaction exposure c. ranslation (accounting) exposure d. all of the above e. none of the above ANS: D 10. Tax schedules are said to be progressive when ____. a. the effective tax rate is greater at high levels of taxable income than at low levels b. the effective tax rate is greater at low levels of taxable income than at high levels c. they do not discriminate on the basis of race, creed, or color d. when tax rates vary by the age of the taxpayer e. none of the above ANS: A Problems 1. In what way is equity a call option on firm value? Tax schedule convexity: progressive taxation 2.Suppose corporate income up to $250,000 is taxed at a rate of 25 percent. Income over $250,000 is taxed at 40 percent. The taxable income of Quack Poultry will be either $200,000 or $300,000 with equal probability. Quack’s income variability arises entirely from an expos ure to currency risk. a. Draw a graph like Figure 9. 2 depicting tax schedule convexity in the United States. b. What is Quack’s expected tax liability if it does not hedge its currency risk? c. What is Quack’s expected tax liability if it is able to completely hedge its currency risk exposure and lock in taxable income of $250,000 with certainty? . In what way does hedging have value for Quack Poultry? Direct and indirect costs of financial distress 3. A firm based in the United Kingdom has promised to pay bondholders ? 10,000 in one year. The firm will be worth either ? 9,000 or ? 19,000 with equal probability at that time depending on the value of the dollar. The firm will be worth ? 14,000 if it hedges against currency risk. a. Identify the values of debt and equity under unhedged and hedged scenarios assuming there are no costs of financial distress. b. Suppose the firm will incur direct bankruptcy costs of ? ,000 in bankruptcy. Identify the value of debt and of e quity under both unhedged and hedged scenarios. c. In addition to the ? 1,000 direct bankruptcy cost, suppose indirect costs reduce the asset value of the firm to either ? 6,000 or ? 18,000 (before the ? 1,000 direct bankruptcy cost) with equal probability. Hedging results in firm value of ? 12,000 with certainty. Identify the value of debt and of equity under both unhedged and hedged scenarios. d. Can hedging add value to shareholders in this problem? Problem Solutions 1.If the firm’s assets are worth more than that promised to debtholders, equity will exercise its option to buy the assets of the firm from the debtholders at the exercise price. If firm assets are worth less than the promised claim, equity will not exercise its option and debt assumes control of the firm. Tax schedule convexity: progressive taxation 2. a. [pic] b. Expected taxes with no hedging: (? )[($200,000)(0. 25)] + (? )[($250,000)(0. 25)+($50,000)(0. 40)] = (? )($50,000) + (? )($82,500) = $66,250. c. Ex pected taxes with hedging: ($250,000)(0. 5) = $62,500 < $66,250. d. Hedging allows Quack to minimize its expected tax liability. This increase in expected future cash flows to equity results in an increase in equity value. 3. a. If firm value is ? 9,000, equity will not exercise its option to buy the firm at a price of ? 10,000. In this case, equity receives nothing and debt receives ? 9,000. If the firm is worth ? 19,000, equity pays the bondholders ? 10,000 and retains the residual ? 9,000. Firm value can be broken down into E[VFIRM] = E[VBONDS] + E[STOCK] = [(? )(? 9,000)+(? )(? 10,000)] + [(? )(? 0)+(? (? 9,000)] = ? 9,500 + ? 4,500 = ? 14,000. Hedged, firm value can be broken down into VFIRM = VBONDS + VSTOCK = ? 10,000 + ? 14,000 = ? 14,000. In the absence of costs of financial distress, the reduction in the variability of firm value results in a reduction in call option value and a ?500 shift in value from equity to debt. b. Unhedged, firm value is decomposed as: E[VFIRM] = E [VBONDS] + E[STOCK] = [(? )(? 9,000 1,000)+(? )(? 10,000)] + [(? )(? 0)+(? )(? 9,000)] = ? 9,000 + ? 4,500 = ? 13,500. With hedging, VFIRM = VBONDS + VSTOCK = ? 10,000 + ? 4,000 = ? 14,000.As in the previous example, the reduction in the variability of firm value is accompanied by a ? 500 transfer of wealth from equity to debt. Hedging also avoids the deadweight ? 1,000 bankruptcy cost and yields an expected gain of (? )(? 1,000) = ? 500. In this example, debt captures the expected gain of ? 500. Equity will capture some of the gain if hedging results in lower interest payments on the next round of debt. c. Unhedged, firm value is E[VFIRM] = E[VBONDS] + E[STOCK] = [(? )(? 6,000 1,000) + (? )(? 10,000)] + [(? )(? 0)+(? )(? 8,000)] = ? 7,500 + ? 4,000 = ? 11,500.If the firm hedges, then VFIRM = VBONDS + VSTOCK = ? 10,000 + ? 2,000 = ? 12,000. This is the same as b) after including indirect costs of financial distress with an expected value of [(? )(? 9,000 6,000)+(? )(? 19,000 18,000) ] = ? 1,500+? 500 = ? 2,000. d. Hedging can add value to shareholders if they can negotiate lower interest payments on debt because of their hedging policies. Even in financial distress, equity could offer to renegotiate the bond contract to more evenly share the gain in firm value from hedging. In this way, they can share in any gain from reducing the probability and costs of financial distress.

Creating Strategy Research Paper Example | Topics and Well Written Essays - 1500 words

Creating Strategy - Research Paper Example The opening of the thesis report consists of the description of office of Human Resources. The National Institutes of Health (NIH) is the main agency under the United States Department of Health and Human Services that is mandated by the United States government to conduct health- related and biomedical research. In order to operate effectively and efficiently to meet the client’s needs and expectations, NIH has, among other offices, the Office of Human Resources (OHR) and Client Services Division. OHR provides strategic leadership in assessment and development of human resources policies and program of the Department of Health and Human Services. Additionally, OHR links the Department to the central management agencies which provide consultative and operational services. Specifically, OHR has an operation arm of called the Client Services Division. This division’s key goal is to provide the best possible customer service in addition to creating positive, strong relatio nship between OHR and the Institutes or Centers (ICs) staff. Client Services Division has 10 branches which often operate inconsistently. They all serve different institutes which they are adapted to operate certain processes differently. Also, some are stricter on their institutes than other, while others are simply more efficient. These inconsistent operations among Client Services Division’s branches are not desirable as they result to clients obtaining varying services in regard to quality, time, efficiency, and effectiveness. Therefore, it is important to create a strategy for making the 10 branches of the Division to operate consistently and ensure that they all deliver services in a more efficient, effective, and timely manner that meets client’s needs and expectations. Creation of the Strategy Creation of the strategy will be based on the Harvard Business Review’s "What is Strategy", "Blue Ocean Strategy", "Pfizer Inc. Building An Innovation Center" case study, "Crafting Strategy" and "5 Competitive Forces that Shape Strategy." In order to create appropriate strategy for an organization, it is important to understand the forces that shape competition (Porter, 2006). Porter (2006) identifies these forces as the following: threat to entry; the power of suppliers; the power of buyers; the threat of substitutes; and, rivalry among existing competitors. Creation of strategy for the Client Services Division should thus take these forces into account so as to have a successful strategy in the long- run. Mintzer (1987) advises that crafting of strategy should take into consideration the patterns from the past and plans for the future. Therefore, in creating a strategy for the Client Services Division of the NIH with a bid to making the ten branches operate consistently, the patterns of the past and the plans for the future will be considered. In regard to patterns from the past, the fact that the branches have been operating inconsistently especially regard to time and efficiency will be considered. On the other hand, the plans for the future which is to ensure that these branches operate consistently will be considered to ensure that these plans are achievable within a given period of time and the amount of resources needed to achieve them. Taking these two important aspects into consideration will be critical in aligning the past patterns with the strategy that seeks to achieve the new goal (Mintzer, 1987). Porter (1996) argues that creation of strategy in most cases seek to attain operational effectiveness and consistency with the aim of improving organizational performance. This proposition is true in regard to the Client Services Division of the NIH; the strategy created will be essential in leading to superior performance which is indeed the main goal of any organization. Since it is an established fact that Client Services D

CROSS CULTURAL MANAGEMENT Essay Example | Topics and Well Written Essays - 2000 words

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Management Essay Example | Topics and Well Written Essays - 250 words - 23

Management - Essay Example Elon Musk later co-founded X.com, which was a payment system based on email later transformed to PayPal. Being the chairperson of the company and major shareholder, he introduced a viral marketing initiative that allowed PayPal to spread at a tremendous pace. Later, PayPal emerged as the internet’s worldwide leading payment transfer. In 2002, 3 years after the founding of PayPal, eBay bought the company for approximately $1.5 billion. After changing the way in which people use the internet, Musk founded SpaceX, a private aerospace company whose goal is to extend human life in other planets. This initiative has been highly successful and NASA has contracted with SpaceX severally for 12 flights. Today, Musk has focused his attention on improving how people transport themselves here on earth. He has managed to make Tesla Motors the fastest-growing company in the world (The Mark of a Leader, 2014). Therefore, based on the achievements that Elon Musk has realized in transforming th e world, he is as a leader with engineering and entrepreneurial skills that help companies to address social, environmental and economic

Biography Of Francisco Goya Research Paper Example | Topics and Well Written Essays - 1000 words

Biography Of Francisco Goya - Research Paper Example In 1763, Goya was awarded a prize in the Academy of San Fernado in Madrid. He did not win, but he met an artist by the name Francisco Bayeu. Bayeu influenced Goya’s formation, and participated in Fresco painting in the Church of Virgin Villa in Zaragoza (Connell 23). His career in painting, drawing, and engravings reflected much historically made upheavals and much influenced much the 19th to 20th century painters. The family moved to a place known as Saragossa, and here his father worked as a gilder. During his childhood stage, a person influenced him by the name Luzan who was just a local painter. In 1770, he went to Italy for his studies on art. He later returned to Saragossa in the year 1771 where he painted frescoes for the local Cathedral. The work, which he did at the Cathedral, was a decorative rococo tradition, which established much of Goya’s artistic reputation. In the year 1773, Francisco Goya married a woman by the name Josefa Bayeu, a sister of Saragossa a rtist by the name Francisco Bayeu. The couple had many children, but only one son by the name Xavier who managed to survive in to adult hood (Carr-Gomm 9). Francisco was a talented Spanish painter, printmaker and termed as one of the old masters in the painting industry. Francisco De Goya started his career at the age of about fourteen years of age, and his talent and ability quickly recognized. He tried his first luck by submitting some entries to a place referred as the Royal Academy of fine arts in the year 1773 and rejected in 1774. He then decided to leave his native country, left to Rome in the year 1771 and his talent recognized and managed to win a second place in the painting competition, and secured himself an employment opportunity in designing tapestries at the Royal Tapestries Factory. Here, he managed to complete 42 patterns, used in covering the walls of the newly built palaces around Madrid making him an immediate royal audience. In 1780 to 1782, he befriended the Pr ince of Spain where they spend two summers together with his family (Connell 27). He used this chance to show the prince his paintings and portraits hence expanding his own circle of royal patrons. An occasion was set to prove his own ability being give a salaried position to work as a court painter in 1786 and 1787 respectively; officially made the first court painter where he had a chance to paint for the noble family. He managed to be getting the chance to paint for the King’s family and the Spanish nobility at large. From the year, 1775 to 1792 Goya made several designs for the Royal Tapestry in Madrid. Francisco de Goya painted sixty-three cartoons for two palaces respectively. The illness affected his whole career as a painter hence withdrawn introspectively. He started painting some paints that were of low quality in his house at Quintal del Sordo. His earlier themes seen as merry festival changed abruptly to those of cartoons and depictions of war and corpses showing clearly that those moods mixed up (Carr-Gomm 11). His legacy inspired several operas, a piano suite, and a number of featured films. His masterpieces in the field of painting include â€Å"The Naked Maja† and the â€Å"Clothed Maja†. He also painted other charming portraits like â€Å"Senora Sabasa Garcia†. Francisco Goya portrayed the beginning of the 19th century realism. In the year, 1799 Goya published the â€Å"Caprichos† which was a combination of etchings satirizing human behavior and

Research Methods Proposal Example | Topics and Well Written Essays - 2000 words

Methods - Research Proposal Example It finally identifies an ideal model for the presentation of this data to various stakeholders to ensure that they give their economic and social support for the regeneration of Dundee’s Central Waterfront area to a world-class city. The research ends with the description of deliverables that must be presented by Dundee’s Central Waterfront to various stakeholder groups. Keywords: Dundee City, Dundee Central Waterfront, Investors, Stakeholders, Competitive City Introduction Dundee City is embarking on a project to expand Dundee’s city centre down to the Central Waterfront Area (Dundee Waterfront Vision). The Dundee Waterfront area encompasses four main sections of the city of Dundee located near they Tay Riverside (Dundee Waterfront Business Current Project)This project is to create a new iron grid system reminiscent to the connections made by the Romans in the city over 1,500 years ago. It also seeks to improve numerous facilities in the city and also go further to regenerate various elements of the city to place it in the category of other competitive European and Global cities (Dundee City Official Website). The project started in 2001 and is expected to end in the year 2031. Currently, there is the need for investors to sink capital into the various projects to create the background for future development of the city. Also, there is the need to attract and promote the city positively before its stakeholders, particularly present and future residents. Research Objectives McMillan & Weyers (2010) states that every academically recognised research project must have a set of clearly defined objectives that the research will be based upon. The purpose of this research are to: 1. Create the definitive platform for the critical analysis of stakeholders to the Central Waterfront Area development project at this present point in time. 2. Identify optimum uses of sites for investors, settlers and stakeholders 3. The description of the data collec tion methods to be used for the collection of preliminary data for the project 4. The identification of investor and other stakeholder presentation model Literature Review Bryman, (2008) states that for an academic research work to have the relevant credibility and acceptability in the world of academia, there is the need for the researchers to review analyse and present groundbreaking definitions, models and system through secondary literature. First of all, the literature review of this research will be based on the elements and features of a competitive city. From preliminary analysis, the paper should focus on the sector approach, institutional approach and conditions for settlement defined by Sako & Murie, (2010) to lay out the potential and optimum land use type that the presentations to stakeholders must dwell upon. The sector approach involves the zoning of city centres being regenerated optimally between creative industries and knowledge intense industries. The creative ind ustries include arts, media, entertainment, creative business services, publishing, advertising and designing. This will ensure that the city will be promoted in other places where consumers will use these patents that are produced in the city in question. Knowledge