Funding is the act of providing financial resources in the form of money, or other values such as effort or time, to finance a need and project by an organization or company. This word is used when a firm uses its internal reserves to satisfy its necessity for cash, while the term financing is used when the firm acquires capital from external sources. Sources of funding include credit, venture capital, grants, savings and taxes. Fundings such as donations and grants that have no direct requirement for return of investment are described as "soft funding" or "crowdfunding". Funding that facilitates the exchange of equity ownership in a company for capital investment via an online funding portal as per the Jumpstart Our Business Startups Act is known as equity crowdfunding. Funds can be allocated for either long-term purposes. In economics funds are injected into the market as capital by lenders and taken as loans by borrowers. There are two ways; the lender can lend the capital to a financial intermediary against interest.
These financial intermediaries reinvest the money against a higher rate. The use of financial intermediaries to finance operations is called indirect finance. A lender can go the financial markets to directly lend to a borrower; this method is called direct finance. It is used in fields of technology or social science. Research funding can split into non-commercial. Research and development departments of a corporation provide commercial research funding. Whereas, non-commercial research funding is obtained from charities, research councils, or government agencies. Organisations that require such funding have to go through competitive selections. Only those that have the most potential would be chosen. Funding is vital in ensuring the sustainability of certain projects. Entrepreneurs with a business concept would want to accumulate all the necessary resources including capital to venture into a market. Funding is part of the process, as some businesses would require large start-up sums that individuals would not have.
These start-up funds are essential to kick-start a business idea, without it, entrepreneurs would not have the ability to carry out their concepts in the business world. Fund management companies gather pools of money from many investors and use them to purchases securities; these funds are managed by professional investment managers, which may generate higher returns with reduced risks by asset diversification. The size of these funds could be a little as a few millions or as much as multibillions; the purpose of these funding activities is aiming to pursue individual or organization profits. Government could allocate funds itself or through government agencies to projects that benefit the public through selection process to students or researchers and organisations. At least two external peer-reviewers and internal research award committee review each application; the research awards committee would meet some time to discuss shortlisted applications. A further shortlist and ranking is made. Projects are funded and applicants are informed.
Crowdfunding exists in two types, reward-based crowdfunding and equity-based crowdfunding. In the former, small firms could pre-sell a product or service to start a business whereas in the latter, backers buys certain amount of shares of a firm in exchange of money; as for reward-based crowdfunding, project creators would set deadline. Anyone, interested can pledge on the projects. Projects must reach its targeted amount in order. Once the projects ended with enough funds, projects creators would have to make sure that they fulfil their promises by the intended timeline and delivery their products or services. To raise capital, you require funds from investors. You have to present those investors with high-return projects. By displaying high-level potentials of the projects, investors would be more attracted to put their money into those projects. After certain amount of time in a year’s time, rewards of the investment will be shared with investors; this makes investors happy and they may continue to invest further.
If returns do not meet the intended level, this could reduce the willingness of investors to invest their money into the funds. Hence, the amounts of financial incentives are weighted determinants to ensure the funding remains at a desirable level. Withdrawal of funding, or defunding, occurs when funding given to an organisation ceases in relation to Governmental funding. Foundation Investment Crowdfunding Peer-to-peer lending Research funding Seed money Micro finance Mutual fund Trust Fund Equity fund
Caterpillar Inc. is an American Fortune 100 corporation which designs, engineers, manufactures and sells machinery, financial products and insurance to customers via a worldwide dealer network. It is the world's largest construction equipment manufacturer. In 2018, Caterpillar was ranked # 65 on # 238 on the Global Fortune 500 list. Caterpillar stock is a component of the Dow Jones Industrial Average. Caterpillar Inc. traces its origins to the 1925 merger of the Holt Manufacturing Company and the C. L. Best Tractor Company, creating the California-based Caterpillar Tractor Company. In 1986, the company reorganized itself as a Delaware corporation under the current name, Caterpillar Inc. Caterpillar's headquarters are located in Illinois; the company licenses and markets a line of clothing and workwear boots under its Cat / Caterpillar name. Caterpillar machinery is recognizable by its trademark "Caterpillar Yellow" livery and the "CAT" logo; the steam tractors of the 1890s and early 1900s were heavy, sometimes weighing 1,000 pounds per horsepower, sank into the rich, soft earth of the San Joaquin Valley Delta farmland surrounding Stockton, California.
Benjamin Holt attempted to fix the problem by increasing the size and width of the wheels up to 7.5 feet tall and 6 feet wide, producing a tractor 46 feet wide. But this made the tractors complex and difficult to maintain. Another solution considered was to lay a temporary plank road ahead of the steam tractor, but this was time-consuming and interfered with earthmoving. Holt thought of wrapping the planks around the wheels, he replaced the wheels on No. 77, with a set of wooden tracks bolted to chains. On Thanksgiving Day, November 24, 1904, he tested the updated machine plowing the soggy delta land of Roberts Island. Contemporaneously Richard Hornsby & Sons in Grantham, England, developed a steel plate tracked vehicle which it patented in 1904; this tractor steered by differential braking of the tracks and did not require the forward tiller steering wheel for steering making it the first to do so. Several tractors were made and sold to operate in the Yukon, one example of, in operation until 1927 remnants of which still exist to this day, but Hornsby were unable to interest the British Military in 1907, although soldiers who witnessed the trials nicknamed the machine a caterpillar.
Hornsby therefore found a limited market for their tractor so they sold their patent to Holt in 1911, the same year Holt trademarked "Caterpillar". Company photographer Charles Clements was reported to have observed that the tractor crawled like a caterpillar, Holt seized on the metaphor. "Caterpillar it is. That's the name for it!" Some sources, attribute this name to British soldiers in July 1907. Two years Holt sold his first steam-powered tractor crawlers for US$5,500, about US$128,000 today; each side were 9 feet long. The tracks were 3 inches by 4 inches redwood slats. Holt received the first patent for a practical continuous track for use with a tractor on December 7, 1907 for his improved "Traction Engine". On February 2, 1910, Holt opened up a plant in East Peoria, led by his nephew Pliny Holt. There Pliny met farm implement dealer Murray Baker who knew of an empty factory, built to manufacture farm implements and steam traction engines. Baker, who became the first executive vice president of what became Caterpillar Tractor Company, wrote to Holt headquarters in Stockton and described the plant of the bankrupt Colean Manufacturing Co. of East Peoria, Illinois.
On October 25, 1909, Pliny Holt purchased the factory, began operations with 12 employees. Holt incorporated it as the Holt Caterpillar Company, although he did not trademark the name Caterpillar until August 2, 1910; the addition of a plant in the Midwest, despite the hefty capital needed to retool the plant, proved so profitable that only two years the company employed 625 people and was exporting tractors to Argentina and Mexico. Tractors were built in both East Peoria. On January 31, 2017, after more than 90 years of being headquartered in Peoria, the company announced plans to move their headquarters from Peoria to Chicago, Illinois by the end of 2017; the upper echelon of executives, including newly installed CEO Jim Umpleby, would begin relocating that year, with up to 100 employees total moving by year's end. About 300 employees will work in the new office at an as-yet undecided location once the transition is complete; the company indefinitely suspended planning for the new Peoria headquarters in the fall of 2015 after announcing a restructuring effort that called for up to 10,000 jobs to be cut and about 20 facilities around the world to be closed or consolidated.
The changes contributed to $2.3 billion in savings in 2016, but sales and revenue for last year still were more than 40 percent below peak levels of 2012. Umpleby said that decline is a fundamental reason the company's Board of Directors opted to move global headquarters to an area where the global marketplace is in easier reach; the first tanks used in WW1 were manufa
John Deere is the brand name of Deere & Company, an American corporation that manufactures agricultural and forestry machinery, diesel engines, drivetrains used in heavy equipment, lawn care equipment. In 2018, it was listed as 102nd in the Fortune 500 America's ranking and was ranked 394th in the global ranking; the company provides financial services and other related activities. Deere & Company is listed on the New York Stock Exchange under the symbol DE; the company's slogan is "Nothing Runs Like a Deere", its logo is a leaping deer, with the words'JOHN DEERE' under it. Various logos incorporating a leaping deer have been used by the company for over 155 years. Deere & Company began when John Deere, born in Rutland, Vermont, USA on February 7, 1804, moved to Grand Detour, Illinois in 1836 to escape bankruptcy in Vermont. An established blacksmith, Deere opened a 1,378-square-foot shop in Grand Detour in 1837, which allowed him to serve as a general repairman in the village, as well as a manufacturer of large tools such as pitchforks and shovels.
Small tools production was just a start. Prior to Deere's steel plow, most farmers used iron or wooden plows to which the rich Midwestern soil stuck, so they had to be cleaned frequently; the smooth-sided steel plow solved this problem, aided migration into the American Great Plains in the 19th and early 20th centuries. The traditional way of doing business was to make the product as and when it was ordered; this style was slow, As Deere realized that this was not going to be a viable business model, he increased the rate of production by manufacturing plows before putting them up for sale. Word of his products began to spread quickly. In 1842, Deere entered a business partnership with Leonard Andrus and purchased land for the construction of a new, two-story factory along the Rock River in Illinois; this factory, named the "L. Andrus Plough Manufacturer", produced about 100 plows in 1842 and around 400 plows during the next year. Deere's partnership with Andrus ended in 1848, Deere relocated to Moline, Illinois, to have access to the railroad and the Mississippi River.
There, Deere formed a partnership with Robert Tate and John Gould and built a 1,440-square-foot factory the same year. Production rose and by 1849, the Deere, Tate & Gould Company was producing over 200 plows a month. A two-story addition to the plant was built. Deere bought out Tate and Gould's interests in the company in 1853, was joined in the business by his son Charles Deere. At that time, the company was manufacturing a variety of farm equipment products in addition to plows, including wagons, corn planters, cultivators. In 1857, the company's production totals reached 1,120 implements per month. In 1858, a nationwide financial recession took a toll on the company. To prevent bankruptcy, the company was reorganized and Deere sold his interests in the business to his son-in-law, Christopher Webber, his son, Charles Deere, who would take on most of his father's managerial roles. John Deere served as president of the company until 1886; the company was reorganized again in 1868, when it was incorporated as Company.
While the company's original stockholders were Charles Deere, Stephen Velie, George Vinton, John Deere, Charles ran the company. In 1869, Charles began to introduce marketing centers and independent retail dealers to advance the company's sales nationwide; this same year, Deere & Company won "Best and Greatest Display of Plows in Variety" at the 17th Annual Illinois State Fair, for which it won $10 and a Silver Medal. The core focus remained on the agricultural implements, but John Deere made a few bicycles in the 1890s. Increased competition during the early 1900s from the new International Harvester Company led the company to expand its offerings in the implement business, but the production of gasoline tractors came to define Deere & Company's operations during the 20th century. In 1912, Deere & Company president William Butterworth, who had replaced Charles Deere after his death in 1907, began the company's expansion into the tractor business. Deere & Company experimented with its own tractor models, the most successful of, the Dain All-Wheel-Drive, but in the end decided to continue its foray into the tractor business by purchasing the Waterloo Gasoline Engine Company in 1918, which manufactured the popular Waterloo Boy tractor at its facilities in Waterloo, Iowa.
Deere & Company continued to sell tractors under the Waterloo Boy name until 1923, when the John Deere Model D was introduced. The company continues to manufacture a large percentage of its tractors in Waterloo, namely the 7R, 8R, 9R series; the company produced the John Deere No. 2, in 1927. A year this innovation was followed up by the introduction of John Deere No. 1, a smaller machine, more popular with customers. By 1929, the No. 1 and No. 2 were replaced by newer, lighter-weight harvesters. In the 1930s, John Deere and other farm equipment manufacturers began developing hillside harvesting technology. Harvesters now had the ability to use their combines to harvest grain on hillsides with up to a 50% slope gradient. On an episode of the Travel Channel series Made in America that profiled Deere & Company, host John Ratzenberger stated that the company never repossessed any equipment from American farmers du
A consumer is a person or organization that uses economic services or commodities. A consumer is the one who pays something to consume services produced; as such, consumers play a vital role in the economic system of a nation. Without consumer demand, producers would lack one of the key motivations to produce: to sell to consumers; the consumer forms part of the chain of distribution. In marketing instead of marketers generating broad demographic profiles and Fisio-graphic profiles of market segments, marketers have started to engage in personalized marketing, permission marketing, mass customization. Due to the rise of the Internet, consumers are shifting more and more towards becoming "prosumers", consumers who are producers, influence the products created participate in the production process, or use interactive products; the law uses a notion of the consumer in relation to consumer protection laws, the definition of consumer is restricted to living persons and excludes commercial users. A typical legal rationale for protecting the consumer is based on the notion of policing market failures and inefficiencies, such as inequalities of bargaining power between a consumer and a business.
As all potential voters are consumers, consumer protection has a clear political significance. Concern over the interests of consumers has spawned consumer activism, where organized activists do research and advocacy to improve the offer of products and services. Consumer education has been incorporated into some school curricula. There are various non-profit publications, such as Which?, Consumer Reports and Choice Magazine, dedicated to assist in consumer education and decision making. In India, the Consumer Protection Act 1986 differentiates the consummation of a commodity or service for personal use or to earn a livelihood. Only consumers are protected per this act and any person, entity or organization purchasing a commodity for commercial reasons are exempted from any benefits of this act. U. S. Government National Consumer Protection Week
Ford Motor Company
Ford Motor Company is an American multinational automaker that has its main headquarter in Dearborn, Michigan, a suburb of Detroit. It was founded by Henry Ford and incorporated on June 16, 1903; the company sells automobiles and commercial vehicles under the Ford brand and most luxury cars under the Lincoln brand. Ford owns Brazilian SUV manufacturer Troller, an 8% stake in Aston Martin of the United Kingdom and a 32% stake in Jiangling Motors, it has joint-ventures in China, Thailand and Russia. The company is controlled by the Ford family. Ford introduced methods for large-scale manufacturing of cars and large-scale management of an industrial workforce using elaborately engineered manufacturing sequences typified by moving assembly lines. Ford's former UK subsidiaries Jaguar and Land Rover, acquired in 1989 and 2000 were sold to Tata Motors in March 2008. Ford owned the Swedish automaker Volvo from 1999 to 2010. In 2011, Ford discontinued the Mercury brand, under which it had marketed entry-level luxury cars in the United States, Canada and the Middle East since 1938.
Ford is the second-largest U. S.-based automaker and the fifth-largest in the world based on 2015 vehicle production. At the end of 2010, Ford was the fifth largest automaker in Europe; the company went public in 1956 but the Ford family, through special Class B shares, still retain 40 percent voting rights. During the financial crisis at the beginning of the 21st century, it was close to bankruptcy, but it has since returned to profitability. Ford was the eleventh-ranked overall American-based company in the 2018 Fortune 500 list, based on global revenues in 2017 of $156.7 billion. In 2008, Ford produced 5.532 million automobiles and employed about 213,000 employees at around 90 plants and facilities worldwide. Henry Ford's first attempt at a car company under his own name was the Henry Ford Company on November 3, 1901, which became the Cadillac Motor Company on August 22, 1902, after Ford left with the rights to his name; the Ford Motor Company was launched in a converted factory in 1903 with $28,000 in cash from twelve investors, most notably John and Horace Dodge.
The first president was not Ford, but local banker John S. Gray, chosen to assuage investors' fears that Ford would leave the new company the way he had left its predecessor. During its early years, the company produced just a few cars a day at its factory on Mack Avenue and its factory on Piquette Avenue in Detroit, Michigan. Groups of two or three men worked on each car, assembling it from parts made by supplier companies contracting for Ford. Within a decade, the company would lead the world in the expansion and refinement of the assembly line concept, Ford soon brought much of the part production in-house in a vertical integration that seemed a better path for the era. Henry Ford was 39 years old when he founded the Ford Motor Company, which would go on to become one of the world's largest and most profitable companies, it has been in continuous family control for over 100 years and is one of the largest family-controlled companies in the world. The first gasoline powered automobile had been created in 1885 by the German inventor Carl Benz.
More efficient production methods were needed to make automobiles affordable for the middle class, to which Ford contributed by, for instance, introducing the first moving assembly line in 1913 at the Ford factory in Highland Park. Between 1903 and 1908, Ford produced the Models A, B, C, F, K, N, R, S. Hundreds or a few thousand of most of these were sold per year. In 1908, Ford introduced the mass-produced Model T, which totalled millions sold over nearly 20 years. In 1927, Ford replaced the T with the first car with safety glass in the windshield. Ford launched the first low-priced car with a V8 engine in 1932. In an attempt to compete with General Motors' mid-priced Pontiac and Buick, Ford created the Mercury in 1939 as a higher-priced companion car to Ford. Henry Ford purchased the Lincoln Motor Company in 1922, in order to compete with such brands as Cadillac and Packard for the luxury segment of the automobile market. In 1929, Ford was contracted by the government of the Soviet Union to set up the Gorky Automobile Plant in Russia producing Ford Model A and AAs thereby playing an important role in the industrialisation of that country.
The creation of a scientific laboratory in Dearborn, Michigan in 1951, doing unfettered basic research, led to Ford's unlikely involvement in superconductivity research. In 1964, Ford Research Labs made a key breakthrough with the invention of a superconducting quantum interference device or SQUID. Ford offered the Lifeguard safety package from 1956, which included such innovations as a standard deep-dish steering wheel, optional front, for the first time in a car, rear seatbelts, an optional padded dash. Ford introduced child-proof door locks into its products in 1957, and, in the same year, offered the first retractable hardtop on a mass-produced six-seater car. In late 1955, Ford established the Continental division as a separate luxury car division; this division was responsible for the manufacture and sale of the famous Continental Mark II. At the same time, the Edsel division was created to design and market that car starting with the 1958 model year. Due to limited sales of the Continental and the Edsel disaster, Ford merged Lincoln and Edsel into "M
General Electric Company is an American multinational conglomerate incorporated in New York and headquartered in Boston. As of 2018, the company operates through the following segments: aviation, power, renewable energy, digital industry, additive manufacturing, venture capital and finance and oil and gas. In 2018, GE ranked among the Fortune 500 as the 18th-largest firm in the U. S. by gross revenue. In 2011, GE ranked among the Fortune 20 as the 14th-most profitable company but has since severely underperformed the market as its profitability collapsed. Two employees of GE—Irving Langmuir and Ivar Giaever —have been awarded the Nobel Prize. During 1889, Thomas Edison had business interests in many electricity-related companies including Edison Lamp Company, a lamp manufacturer in East Newark, New Jersey. P. Morgan and the Vanderbilt family for Edison's lighting experiments. In 1889, Morgan & Co. a company founded by J. P. Morgan and Anthony J. Drexel, financed Edison's research and helped merge those companies under one corporation to form Edison General Electric Company, incorporated in New York on April 24, 1889.
The new company acquired Sprague Electric Railway & Motor Company in the same year. In 1880, Gerald Waldo Hart formed the American Electric Company of New Britain, which merged a few years with Thomson-Houston Electric Company, led by Charles Coffin. In 1887, Hart left to become superintendent of the Edison Electric Company of Missouri. General Electric was formed through the 1892 merger of Edison General Electric Company of Schenectady, New York, Thomson-Houston Electric Company of Lynn, with the support of Drexel, Morgan & Co. Both plants continue to operate under the GE banner to this day; the company was incorporated in New York, with the Schenectady plant used as headquarters for many years thereafter. Around the same time, General Electric's Canadian counterpart, Canadian General Electric, was formed. In 1896, General Electric was one of the original 12 companies listed on the newly formed Dow Jones Industrial Average, where it remained a part of the index for 122 years, though not continuously.
In 1911, General Electric absorbed the National Electric Lamp Association into its lighting business. GE established its lighting division headquarters at Nela Park in Ohio; the lighting division has since remained in the same location. Owen D. Young, through GE, founded the Radio Corporation of America in 1919, after purchasing the Marconi Wireless Telegraph Company of America, he aimed to expand international radio communications. GE used RCA as its retail arm for radio sales. In 1926, RCA co-founded the National Broadcasting Company, which built two radio broadcasting networks. In 1930, General Electric was charged with antitrust violations and decided to divest itself of RCA. In 1927, Ernst Alexanderson of GE made the first demonstration of his television broadcasts at his General Electric Realty Plot home at 1132 Adams Rd, New York. On January 13, 1928, he made what was said to be the first broadcast to the public in the United States on GE's W2XAD: the pictures were picked up on 1.5 square inch screens in the homes of four GE executives.
The sound was broadcast on GE's WGY. Experimental television station W2XAD evolved into station WRGB which, along with WGY and WGFM, was owned and operated by General Electric until 1983. Led by Sanford Alexander Moss, GE moved into the new field of aircraft turbo superchargers. GE introduced the first set of superchargers during World War I, continued to develop them during the interwar period. Superchargers became indispensable in the years prior to World War II. GE supplied 300,000 turbo superchargers for use in bomber engines; this work led the U. S. Army Air Corps to select GE to develop the nation's first jet engine during the war; this experience, in turn, made GE a natural selection to develop the Whittle W.1 jet engine, demonstrated in the United States in 1941. GE was ranked ninth among United States corporations in the value of wartime production contracts. Although, their early work with Whittle's designs was handed to Allison Engine Company. GE Aviation emerged as one of the world's largest engine manufacturers, bypassing the British company, Rolls-Royce plc.
Some consumers boycotted GE light bulbs and other products during the 1980s and 1990s. The purpose of the boycott was to protest against GE's role in nuclear weapons production. In 2002, GE acquired the wind power assets of Enron during its bankruptcy proceedings. Enron Wind was the only surviving U. S. manufacturer of large wind turbines at the time, GE increased engineering and supplies for the Wind Division and doubled the annual sales to $1.2 billion in 2003. It acquired ScanWind in 2009. In 2015, GE Power garnered press attention when a model 9FB gas turbine in Texas was shut down for two months due to the break of a turbine blade; this model uses similar blade technology to GE's newest and most efficient model, the 9HA. After the break, GE developed heat treatment methods. Gas turbines represent a significant portion of GE Power's revenue, represent a significant portion of the power generation fleet of several utility companies in the United States. Chubu Electric of Japan and Électricité de France had units that were impacted.