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Wiki Wiki Summary
Management Management (or managing) is the administration of an organization, whether it is a business, a non-profit organization, or a government body. It is the art and science of managing resources of the business.
Uncertainty Uncertainty refers to epistemic situations involving imperfect or unknown information. It applies to predictions of future events, to physical measurements that are already made, or to the unknown.
Propagation of uncertainty In statistics, propagation of uncertainty (or propagation of error) is the effect of variables' uncertainties (or errors, more specifically random errors) on the uncertainty of a function based on them. When the variables are the values of experimental measurements they have uncertainties due to measurement limitations (e.g., instrument precision) which propagate due to the combination of variables in the function.
Measurement uncertainty In metrology, measurement uncertainty is the expression of the statistical dispersion of the values attributed to a measured quantity. All measurements are subject to uncertainty and a measurement result is complete only when it is accompanied by a statement of the associated uncertainty, such as the standard deviation.
Fear, uncertainty, and doubt Fear, uncertainty, and doubt (often shortened to FUD) is a propaganda tactic used in sales, marketing, public relations, politics, polling and cults. FUD is generally a strategy to influence perception by disseminating negative and dubious or false information and a manifestation of the appeal to fear.
Knightian uncertainty In economics, Knightian uncertainty is a lack of any quantifiable knowledge about some possible occurrence, as opposed to the presence of quantifiable risk (e.g., that in statistical noise or a parameter's confidence interval). The concept acknowledges some fundamental degree of ignorance, a limit to knowledge, and an essential unpredictability of future events.
Uncertainty parameter The uncertainty parameter U is a parameter introduced by the Minor Planet Center (MPC) to quantify concisely the uncertainty of a perturbed orbital solution for a minor planet. The parameter is a logarithmic scale from 0 to 9 that measures the anticipated longitudinal uncertainty in the minor planet's mean anomaly after 10 years.
Competition Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, individuals, economic and social groups, etc.
Manufacturing Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of secondary sector of the economy.
List of modern armament manufacturers The following list of modern armament manufacturers presents major companies producing modern weapons and munitions for military, paramilitary, government agency and civilian use. The companies are listed by their full name followed by the short form, or common acronym, if any, in parentheses.
List of loudspeaker manufacturers This is a list of notable manufacturers of loudspeakers. In regard to notability, this is not intended to be an all-inclusive list; it is a list of manufacturers especially noted for their loudspeakers and which have articles on Wikipedia.
Automotive industry The automotive industry comprises a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles. It is one of the world's largest industries by revenue (from 16 % such as in France up to 40 % to countries like Slovakia).
List of computer hardware manufacturers Current notable computer hardware manufacturers:\n\n\n== Cases ==\nList of computer case manufacturers:\n\n\n=== Rack-mount computer cases ===\n\n\n== Laptop computer cases ==\nClevo\nMSI\n\n\n== Motherboards ==\nTop motherboard manufacturers:\n\nList of motherboard manufacturers:\n\nDefunct:\n\n\n== Chipsets for motherboards ==\n\n\n== Central processing units (CPUs) ==\nNote: most of these companies only make designs, and do not manufacture their own designs. \nTop x86 CPU manufacturers:\n\nList of CPU manufacturers (most of the companies sell ARM-based CPUs, assumed if nothing else stated):\n\nAcquired or defunct:\n\n\n== Hard disk drives (HDDs) ==\n\n\n=== Internal ===\nList of current hard disk drive manufacturers:\n\nSeagate Technology\nToshiba\nWestern Digital\n\n\n=== External ===\nNote: the HDDs internal to these devices are manufactured only by the internal HDD manufacturers listed above.
List price The list price, also known as the manufacturer's suggested retail price (MSRP), or the recommended retail price (RRP), or the suggested retail price (SRP) of a product is the price at which its manufacturer notionally recommends that a retailer sell the product.\nSuggested pricing methods may conflict with competition theory, as they allow prices to be set higher than would be established by supply and demand.
Competitor backlinking Competitor backlinking is a search engine optimization strategy that involves analyzing the backlinks of competing websites within a vertical search. The outcome of this activity is designed to increase organic search engine rankings and to gain an understanding of the link building strategies used by business competitors.By analyzing the backlinks to competitor websites, it is possible to gain a benchmark on the number of links and the quality of links that is required for high search engine rankings.
Round-robin tournament A round-robin tournament (or all-play-all tournament) is a competition in which each contestant meets every other participant, usually in turn. A round-robin contrasts with an elimination tournament, in which participants are eliminated after a certain number of losses.
Internet In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay the lender or some third party.
Construction engineering Construction engineering is a professional discipline that deals with the designing, planning, construction and management of infrastructures such as roads, tunnels, bridges, airports, railroads, facilities, buildings, dams, utilities and other projects.\nCivil engineering is a related field that deals more with the practical aspects of projects.
Grammatical construction In linguistics, a grammatical construction is any syntactic string of words ranging from sentences over phrasal structures to certain complex lexemes, such as phrasal verbs.\nGrammatical constructions form the primary unit of study in construction grammar theories.
Granite Construction Granite Construction Inc. is a member of the S&P 600 Index based in Watsonville, California, and is the parent corporation of Granite Construction Company, a heavy civil general contractor and construction material producer.
Construction aggregate Construction aggregate, or simply aggregate, is a broad category of coarse- to medium-grained particulate material used in construction, including sand, gravel, crushed stone, slag, recycled concrete and geosynthetic aggregates. Aggregates are the most mined materials in the world.
Stock market A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include securities listed on a public stock exchange, as well as stock that is only traded privately, such as shares of private companies which are sold to investors through equity crowdfunding platforms. Investment is usually made with an investment strategy in mind.
E-commerce Commerce is the exchange of goods and services, especially on a large scale.\n\n\n== Etymology ==\nThe English-language word commerce has been derived from the Latin word commercium, from com ("together") and merx ("merchandise").
Board of directors A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organization, or a government agency. \nThe powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law) and the organization's own constitution and by-laws.
Advisory board An advisory board is a body that provides non-binding strategic advice to the management of a corporation, organization, or foundation. The informal nature of an advisory board gives greater flexibility in structure and management compared to the board of directors.
Supervisory board A governance board also known as council of delegates are chosen by the stockholders of a company to promote their interests through the governance of the company and to hire and fire the board of directors.\nCorporate governance varies between countries, especially regarding the board system.
Board of education A board of education, school committee or school board is the board of directors or board of trustees of a school, local school district or an equivalent institution.\nThe elected council determines the educational policy in a small regional area, such as a city, county, state, or province.
Gender representation on corporate boards of directors Gender representation on corporate boards of directors refers to the proportion of men and women who occupy board member positions. To measure gender diversity on corporate boards, studies often use the percentage of women holding corporate board seats and the percentage of companies with at least one woman on their board.
Common stock Common stock is a form of corporate equity ownership, a type of security. The terms voting share and ordinary share are also used frequently outside of the United States.
Class B share In finance, a Class B share or Class C share is a designation for a share class of a common or preferred stock that typically has strengthened voting rights or other benefits compared to a Class A share that may have been created. The equity structure, or how many types of shares are offered, is determined by the corporate charter.B share can also refer to various terms relating to stock classes:\n\nB share (mainland China), a class of stock on the Shanghai and Shenzhen stock exchanges\nB share (NYSE), a class of stock on the New York Stock ExchangeMost of the time, Class B shares may have lower repayment priorities in the event a company declares bankruptcy.
Shareholder A shareholder (in the United States often referred to as stockholder) of a corporation is an individual or legal entity (such as another corporation, a body politic, a trust or partnership) that is registered by the corporation as the legal owner of shares of the share capital of a public or private corporation. Shareholders may be referred to as members of a corporation.
Equity (finance) In finance, equity is ownership of assets that may have debts or other liabilities attached to them. Equity is measured for accounting purposes by subtracting liabilities from the value of the assets.
Shareholders' agreement A shareholders' agreement (sometimes referred to in the U.S. as a stockholders' agreement) (SHA) is an agreement amongst the shareholders or members of a company. In practical effect, it is analogous to a partnership agreement.
Shareholder loan Shareholder loan is a debt-like form of financing provided by shareholders. Usually, it is the most junior debt in the company's debt portfolio.
Annual general meeting An annual general meeting (AGM, also known as the annual meeting) is a meeting of the general membership of an organization.\nThese organizations include membership associations and companies with shareholders.
Public company A public company, publicly traded company, publicly held company, publicly listed company, or public limited company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (listed company), which facilitates the trade of shares, or not (unlisted public company).
Preferred stock Preferred stock (also called preferred shares, preference shares, or simply preferreds) is a component of share capital that may have any combination of features not possessed by common stock, including properties of both an equity and a debt instrument, and is generally considered a hybrid instrument. Preferred stocks are senior (i.e., higher ranking) to common stock but subordinate to bonds in terms of claim (or rights to their share of the assets of the company, given that such assets are payable to the returnee stock bond) and may have priority over common stock (ordinary shares) in the payment of dividends and upon liquidation.
Risk Factors
INTERFACE INC ITEM 1A RISK FACTORS Safe Harbor Compliance Statement for Forward-Looking Statements This report on Form 10-K contains “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995
Words such as “believes,” “anticipates,” “plans,” “expects” and similar expressions are intended to identify forward-looking statements
Forward-looking statements include statements regarding the intent, belief or current expectations of our management team, as well as the assumptions on which such statements are based
Any forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could cause actual results to differ materially from those contemplated by such forward-looking statements
We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time
Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include risks and uncertainties associated with economic conditions in the commercial interiors industry as well as the risks and uncertainties discussed immediately below
13 _________________________________________________________________ Risk Factors We compete with a large number of manufacturers in the highly competitive commercial floorcovering products market, and some of these competitors have greater financial resources than we do
The commercial floorcovering industry is highly competitive
Globally, we compete for sales of floorcovering products with other carpet manufacturers and manufacturers of vinyl and other types of floorcovering
Although the industry has experienced significant consolidation, a large number of manufacturers remain in the industry
Some of the competitors, including a number of large diversified domestic and foreign companies who manufacture modular carpet as one segment of their business, have greater financial resources than we do
Sales of our principal products have been and may continue to be affected by adverse economic cycles in the construction and renovation of commercial and institutional buildings
Sales of our principal products are related to the construction and renovation of commercial and institutional buildings
This activity is cyclical and has been affected by the strength of a country’s or region’s general economy, prevailing interest rates and other factors that lead to cost control measures by businesses and other users of commercial or institutional space
The effects of cyclicality upon the corporate office segment tend to be more pronounced than the effects upon the institutional segment
Historically, we have generated more sales in the corporate office segment than in any other market
The effects of cyclicality upon the new construction segment of the market also tend to be more pronounced than the effects upon the renovation segment
The recent adverse cycle has significantly lessened the overall demand for commercial interiors products, which has adversely affected our business during the past several years
These effects may continue and could be more pronounced if the global economy does not improve or is further weakened
Our success depends significantly upon the efforts, abilities and continued service of our senior management executives and our principal design consultant, and our loss of any of them could affect us adversely
We believe that our success depends to a significant extent upon the efforts and abilities of our senior management executives
In addition, we rely significantly on the leadership that David Oakey of David Oakey Designs provides to our internal design staff
Specifically, Oakey Designs provides product design/production engineering services to us under an exclusive consulting contract that contains non-competition covenants
Our current agreement with Oakey Designs extends to April 2011
The loss of any of these key persons could have an adverse impact on our business
Our substantial international operations are subject to various political, economic and other uncertainties that could adversely affect our business results, including by restrictive taxation or other government regulation and by foreign currency fluctuations
We have substantial international operations
In fiscal 2005, approximately 43prca of our net sales and a significant portion of our production were outside the United States, primarily in Europe but also in Asia-Pacific
Our corporate strategy includes the expansion and growth of our international business on a worldwide basis
As a result, our operations are subject to various political, economic and other uncertainties, including risks of restrictive taxation policies, changing political conditions and governmental regulations
We also make a substantial portion of our net sales in currencies other than US dollars (approximately 43prca of 2005 net sales), which subjects us to the risks inherent in currency translations
The scope and volume of our global operations make it impossible to eliminate completely all foreign currency translation risks as an influence on our financial results
14 _________________________________________________________________ Our Chairman, together with other insiders, currently has sufficient voting power to elect a majority of our Board of Directors
Our Chairman, Ray C Anderson, beneficially owns approximately 49prca of our outstanding Class B Common Stock
The holders of the Class B Common Stock are entitled, as a class, to elect a majority of our Board of Directors
Therefore, Mr
Anderson, together with other insiders, has sufficient voting power to elect a majority of the Board of Directors
On all other matters submitted to the shareholders for a vote, the holders of the Class B Common Stock generally vote together as a single class with the holders of the Class A Common Stock
Anderson’s beneficial ownership of the outstanding Class A and Class B Common Stock combined is approximately 7prca
Large increases in the cost of petroleum-based raw materials, which we are unable to pass through to our customers, could adversely affect us
Petroleum-based products comprise the predominant portion of the cost of raw materials that we use in manufacturing
While we attempt to match cost increases with corresponding price increases, continued large increases in the cost of petroleum-based raw materials could adversely affect our financial results if we are unable to pass through such price increases to our customers
Unanticipated termination or interruption of any of our arrangements with our primary third-party suppliers of synthetic fiber could have a material adverse effect on us
Invista Inc, a subsidiary of Koch Industries, Inc, currently supplies approximately 46prca of our requirements for synthetic fiber (nylon), which is the principal raw material that we use in our carpet products
In addition, other of our businesses have a high degree of dependence on their third party suppliers of synthetic fiber for certain products or markets
The unanticipated termination or interruption of any of our supply arrangements with our current suppliers could have a material adverse effect on us because of the cost and delay associated with shifting more business to another supplier
We do not have a long-term supply agreement with Invista
We have a significant amount of indebtedness which could have important negative consequences to us
Our substantial indebtedness could have important negative consequences to us, including: • making it more difficult for us to satisfy our obligations with respect to such indebtedness; • increasing our vulnerability to adverse general economic and industry conditions and adverse changes in governmental regulations; • limiting our ability to obtain additional financing to fund capital expenditures, acquisitions or other growth initiatives, and other general corporate requirements; • requiring us to dedicate a substantial portion of our cash flow from operations to payments on our indebtedness, thereby reducing the availability of our cash flow to fund capital expenditures, acquisitions or other growth initiatives, or other general corporate purposes; • limiting our flexibility in planning for, or reacting to, changes in our business and the industry in which we operate; • placing us at a competitive disadvantage compared to our less leveraged competitors; and • limiting our ability to refinance our existing indebtedness as it matures
Our Rights Agreement could discourage tender offers or other transactions for our stock that could result in shareholders receiving a premium over the market price for our stock
Our Board of Directors has adopted a Rights Agreement pursuant to which holders of our common stock will be entitled to purchase from us a fraction of a share of our Series B Participating Cumulative Preferred Stock if a third party acquires beneficial ownership of 15prca or more of our common stock without our consent
In addition, the holders of our common stock will be entitled to purchase the stock of an Acquiring Person (as defined in the Rights Agreement) at a discount upon the occurrence of triggering events
These provisions of the Rights Agreement could have the effect of discouraging tender offers or other transactions that could result in shareholders receiving a premium over the market price for our common stock