Saturday, December 28, 2019

Target Financial Analysis - 1288 Words

Juan A. Torres Rodriguez D01596038 Mini Case Assignment Target Corp. started in 1902 as Dayton’s Dry Goods company. At 1911, Dayton’s Dry Goods is renames as Dayton Company, and commonly known as Dayton’s Department Store. In 1946 Dayton’s Department Stores started giving the community back 5% of their pretax profits, a practice that Target Corp still maintains. During the 1960’s Dayton’s create a new kind of store to appeal the masses called Target, opening the first Target store in the Twin Cities on May 1, 1962. The industry sector in which Target Corporation competes is in the retail sector reaching the $62.87 Billion in sales. As mentioned above, Target competes in the retail sector, which makes the operating risks of†¦show more content†¦After this episode in the economy we can see that Target’s stock has recovered significantly. After performing the calculations, Target’s capital structure is optimal. However, the debt to capitalization ratio is high, at 50%. Target needs to lower its Long-Term Debt. Comparing Target’s debt to capital to the industry average, the industry average is 0.36. However I would invest in Target. I think I would have an advantage over outsiders, because I used to work at Target Corporation. Target is a company that is constantly growing, and their sales demonstrate their market advantage over other retailers. What convinced me to invest into Target mostly was the P/E ratio. Comparing it to a corporation like Wal-Mart, which is really successful, Target’s P/E ratio is acceptable and attractive. References 1. Scovaner, Douglas A. (2011). Target 2011 Annual Report. Retrieved on November 18, 2012: https://corporate.target.com/annual-reports/2011/images/company/annual_report_2011/documents/Target_2011_Annual_Report.pdf 2. Stock Analysis on net. (2012). Retrieved on November 18, 2012. http://www.stock-analysis-on.net/NYSE/Company/Target-Corp/Ratios/Long-term-Debt-and-Solvency#Debt-to-Capital 3. Retrieved on November 18, 2012 http://ycharts.com/companies/TGT/pe_ratio 4. Yahoo! Finance. (2012). Retrieved on November 18, 2012. http://finance.yahoo.com/q/bc?s=TGT+Basic+Chartamp;t=5yShow MoreRelatedTarget Financial Analysis1273 Words   |  6 Pagescontents Introduction TARGET Corp ROIC vs. WACC Target Corp vs. Industry ROIC target Corp vs. Industry Revenue Trend Target Corp Operating Expense vs. Industry operating expense as a percent of revenue Target corp Operating Profit vs industry operating profit as a percent of revenue. target Corp Economic Moat Conclusion Works Cited Table of figures Figure 1 Target Corp ROIC vs WACC; Source: Mergent Online; Annual Studies. Figure 2 Target Corp vs. Industry ROIC; Source:Read MoreThe Financial Analysis of Target2246 Words   |  9 PagesFinancial Analysis and Valuation for Target Inc. [pic] CONTENTS: 1. Financial Highlights of Target Business†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 2. Target Financial Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 3. Valuation Models†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4. Corporate Finance Strategy†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 5. Investment Recommendations†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6. The Impact and Implication of Financial Crisis on Target’s Financial Performance †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 7. Conclusions †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Read MoreTarget Financial Analysis Paper913 Words   |  4 Pagespercent of the total assets were these capital investments? A calculation is used to assess Target and Walmart efficiency that allocating the capital under its control to profitable investments. The return on invested capital gives a sense of how well a company is using their money to generate returns. However, Target sales increased to 4% in 2015 to 2016 but then declined significantly in 2016 to 2017. Target earnings from continuing operations before interest expense and income taxes increased byRead MoreTarget Corp: Financial Analysis2786 Words   |  12 PagesTarget Corporation: A Financial Competitive Analysis [pic] By: O.P. For Econ 2304 Prof. Alexander [pic] Overview Target has been a publicly traded company since 1963, but has been around since 1902. Target was originally part of the Dayton Hudson Corporation which was founded in Minneapolis, Minnesota. In 2000, because Target had become the largest division of the Dayton Hudson Corporation, it became known as the Target Corporation. Target is the secondRead MoreFinancial Analysis Paper for Target2219 Words   |  9 PagesFinancial Analysis Paper Zeyuan Liu Company Profile Target Corporation was founded in 1902 and is headquartered in Minneapolis, Minnesota. Target Corporation operates general merchandise and food discount stores in the United States. It operates as two reportable segments: Retail and Credit Card. The company offers household essentials, including electronics, music, and toys; apparel and accessories; home furnishings as well as seasonal merchandise. It also sells its merchandise under private-labelRead MoreWalmart vs Target Financial Analysis5129 Words   |  21 PagesFINANCIAL ACCOUNTING REPORT – TEAM 8 CASE ANALYSIS OF WAL-MART INC AND TARGET CORPORATION SUBMITTED BY: Amaresh Chandra Panda K H Gupta Mehul Shah SNDS Ramanish Sadhu Upasana Patra Table of Contents EXECUTIVE SUMMARY ....................................................................................................................... 2 RATIO ANALYSIS ................................................................................................................................ 2 PROFITABILITYRead MoreFinancial Analysis for J.C Penney and Target Essay1384 Words   |  6 PagesRunning head: Financial Analysis 1 Financial Analysis for J.C. Penney and Target Sabrina Earnest Columbia College Author Note This paper was prepared for Business Finance 350, taught by Professor Campbell. Running head: Financial Analysis 2 Abstract Running head: Financial Analysis Read MoreNorth American Group Business Unit Controller1483 Words   |  6 Pages(NYSE:AME) (www.ametek.com) is a publicly-traded, diverse company and leading global manufacturer with annualized sales of more than $3.6B and more than 15,000 employees. Headquartered in Berwyn, PA, the Company has a track record of exceptional financial and market success and expects to double revenues within five years. Major strategic thrusts include targeted acquisitions, organic growth via new product development, operational effectiveness, and increasing its global presence. The company’sRead MoreMarketing Analysis : Yum ! Brands Inc.3538 Words   |  15 PagesIntroduction and Industry/Strategy Analysis Introduction Yum! Brands Inc. is the world’s largest restaurant company. From the worldwide it is has more than 37,000 restaurant units in 110 countries and regions based in Louisville, Kentucky. â€Å"In 2009, the company pulled in almost $11 billion in revenue. The brands owned by Yum! Brands Inc. are KFC, Pizza Hut and Taco Bell.† These four brands are global leaders in the categories of chicken, pizza, and Mexican-style food. â€Å"Also Yum! Brands have threeRead MoreFinancial Ratio Analysis Of Hitech Print System Ltd Essay3620 Words   |  15 PagesChapter-1 Executive Summary This project proposed is the study of financial ratio analysis of HITECH PRINT SYSTEM LTD for the two years. This project is aimed towards developing an understanding the various guidelines that the company follows to the feasibility of Capital Budgeting decisions and analyzing the financial ratios. This project understanding formed the basis for conducting the future study necessary to go ahead with their projects. In this process the first step in Ð µxÐ µrcisÐ µ was to have

Friday, December 20, 2019

Essay about Functional Literacy in High School Students

Functional Literacy in High School Students What is Functional Literacy? Prior to 1985, functional literacy was defined as the ability to read or write in English or another language. Standards for measuring one’s functional literacy have changed numerous times over the decades. In the 1930’s functional literacy meant having three or more years of school. During the WWII era, it meant completing a fourth grade education. The standards increased during the 1960’s. Literacy in this era meant that a person had completed an eighth grade education. During the 1970’s, the completion of a high school education meant that a person was functionally literate (Rose 2005). The National Literacy Act of 1991 and the Workforce†¦show more content†¦Computing and comparing the cost per ounce for food items. Individuals who operate at levels one and two function at a basic level of literacy performance. This categorizes them as functionally literate. Individuals, who operate at levels three and four function at a proficient level of literacy. 70 years ago an individual could operate in society with level one literacy performance, however, new ways of acquiring information and the evolution of new technologies has reshaped society. The skills that are necessary to be functionally literate in this era go beyond the skill of basic reading. Is it a Problem? Over the last 15 years in the United States there has been an increase in the number of high school students that have graduated at or below the basic level of functional literacy. The most common issue that teachers see in the classroom is that students can read words, but they are unable to comprehend what they have read. This gives the illusion of proficient literacy and struggling students go unnoticed. From 1992-2005 the percentage of high school seniors performing at or above the basic level in reading decreased from 80 % to 73 % (National Assessment of EducationalShow MoreRelatedThe Extent to Which Teachers Help Their EC Students in Regular Classroom Settings1647 Words   |  7 Pagestheir EC students in regular classroom settings. When speaking of EC students I am more addressing the ESL students. Literacy Before children learn to use language to let their needs and wants be known they first learn to read, how can a child communicate without the resources they need to express themselves before they have the skills needed to do so? Studies show how to overcome one challenging situation but there are people in the world who are faced with two adversities in life. Literacy in today’sRead MoreHidden Intellectualism : Hidden Intellectualism729 Words   |  3 PagesHidden Intellectualism Avery Mears Abstract When it comes to the topic of hidden intellectualism, most of us will readily agree that a lot of students are seen to have an issue with it. Where this agreement usually ends, however, is on the question of is it the students fault. Whereas some are convinced it is, others maintain it is at the fault of the teachers or professors. Gerald Graff has his argument that in many cases book smarts can be hidden in street smarts. I believe that kids that struggleRead MoreEssentialism is an educational philosophy in which it is important to â€Å"promote and instill cultural600 Words   |  3 Pagesand instill cultural literacy in all students† (Morrison, 2009, p.338). Teachers only teach the basic skills that they think are necessary for educational and cultural growth. I noticed several things throughout my experience with the school system which leads me to suggest that our school system is based on the philosophy of essentialism. Essentialists believe that a curriculum that devel ops cultural literacy and basic skills is needed. In my experience, I grew up in a school system that incorporatedRead MoreLiteracy Is A Common Problem Around The World Essay1415 Words   |  6 PagesThe average college student is expected to read pages and pages of material from various textbooks in order to gain new knowledge about their selected major. Many adults and children around the world cannot read one sentence, much less pages and pages of comprehensive subject matter. The inability to read and write, known as illiteracy, is a common problem around the world, especially in developing countries, and has many unfortunate consequences. Literacy plays a major role in the world, impactingRead MoreWriting, Listening, And Listening999 Words   |  4 Pagesan educator and studies in literacy pedagogies, learning to write is a tool for thinking. Writing and literacy development are authentic and purposeful processes. Writing requires an intrinsic motivation and instruction should be organized in such a way that students not only learn to write but understand the importance of being able to communicate in written form both in and out of the academic setting. It is vital for educators to allow for opportunities for students to make connections and identifyRead More The Roots of Illiteracy Essays1230 Words   |  5 Pagesingredient label (Level 1). High schools give diplomas to graduating classes where 20% read at a second grade level or worse (Level 1). College graduates do not score much better with 12% able to read at a fourth grade level or worse (Level 2). Should society be concerned when only 3% of the population are capable of reading and comprehending a jury selection outline? Is the educational system to blame for churning out kids who can barely function in society? Are the elementary school teachers at fault becaus eRead MoreHow Ways You Can Help Your Students Make Meaning1235 Words   |  5 Pageshelp your students make meaning in your content area Over time the social studies classes have become ridiculed as the boring subjects in the classroom. All too often are students overhead stating, â€Å"history is so boring! It is my least favorite class. Or, all we do is learn stuff that does not matter anymore.† Yet, to me, I do not fault these students for their perspective. I myself was once one of these students. I have always liked history and geography, but as a high school student myself I foundRead MoreLack of Interest in Reading Among Studets1328 Words   |  6 PagesLACK OF INTEREST IN READING AMONG STUDENTS. Lack of a reading culture among students has been a persistent sore in the eyes of many organizations. Concerted efforts being made by these in ensuring that the seeds of this culture are sown are a manifestation of their recognition that it is only a literate and knowledgeable society that can fully participate in and positively contribute toNational development. The role of a library as a source of information to students in improving education standardsRead MoreCell Phones And Its Effects On Our Lives1578 Words   |  7 Pageswill not even bother to buy one book in a year. What a lot of people don t realize is that these low literacy rates are the source of so much more than social issues and mild concern over what our once seemingly perfect and indestructible nation is coming to. The impact current literacy rates had on our economy was nearly astounding. Secretary Arne Duncan made a public announcement stating that a high quality education is absolutely critical to the reconstruction` of our economy. With that being saidRead MoreAn Analysis Of The Humanities And Social Sciences Learning Area1132 Words   |  5 PagesIntroduction Cross-curricular priorities provide opportunities for extending literacy through other learning areas. In this case, the Humanities and Social Sciences learning area has been extended to provide students with varied experiences using multimodal texts. Using an analysis of student understanding, the planner has been developed to address gaps and improve student outcomes. Each of the eight knowledge processes has been addressed in activities targeting comprehension, fluency and vocabulary

Thursday, December 12, 2019

Model of Coffee Vending Machine Samples †MyAssignmenthelp.com

Question: Discuss about the Answer: Introduction The IT alignment is very important for any type of business. The organizations which have very well IT alignment for the company would be having a high position in the market. They would also poses a very reliable It alignment in their businesses would be able to obtain very efficient business results. The paper deals with the scenario of a coffee vending machine. In the provided scenario the business alignment is to be done in a coffee vending machine. A brief detail about the design of the coffee vending machine is provided in this paper. The paper contains the discussions about the business and the IT goals. In addition to this the paper provides the model of the coffee vending machine and a brief analysis of the machine. The procedure for the implementation of the coffee vending machine is also provided in this paper. Identification of business and IT goals in this given scenario The business and the It goals are very necessary for the organization. In addition to this, the business and the IT goals for the organization help in defining the aims for the company and also drive them to work for the progress in the market for the company. The main business and IT goals for the companies are Market Share, Innovations, Productivity, Profitability, and management of the performances and development of the company, social responsibilities (Collins, 2017). The organization looks to increase their market shares and profitability to achieve their business goals. In addition to this, the company also looks to enhance their production and performances for achieving their business goals. In addition to this, the companies also set various types of IT goals that the company set for themselves are customer satisfaction, user friendly navigation and efficient interfaces for their clients and customers. The environment friendly activities performed by the organization also co me under the IT goals set by the organizations (Harvey, 2014). These goals are very important for the companies. They are a guideline for the actions that the company has to take. They also provide the guide for the constrains of the organization. The source for the legitimacy of the organization and activities performed by them can also be identified by the business and the IT goals for the system. Stages of the model for the provided scenario The model for the coffee machine has been described in three stages. The first stage displays the model of the coffee machine. The working procedure inside the machine and the alignment of the system with the local servers of the system is provided in the model. The second stage is used for the analysis and a brief description about the model. In addition to this, the implementation of the coffee vending model is provided in stage three. Model of the coffee vending machine Figure 1: Coffee Vending System Source: (created by Author) Analysis of the coffee vending machine The designing of the coffee vending machine has been done according to the requirement provided in the scenario. The coffee vending machine would be able to perform all the tasks that are performed by a coffee vending machine and includes some additional features for the model that would help them to incorporate the IT alignment into the model. The model performs various activities such as detection of the counterfeit note and coins. The coffee vending machine also provides the user with the requested product on payment of the full amount. The machine also displays various types of functions such as invalid entry, counterfeit coins and invalid amount entry. The invalid entry is displayed when the request of the user is already processing or the already processed. In addition to this, when a user enters a counterfeit coin into the machine the machine display the message and rejects the coins and returns them to the users. If the user enters an invalid amount and requests for the produ ct then the system displays the invalid entry ad returns the money back to the users Implementation of the model The model is implemented with the help of the It functions in the company. The system is connected to the internal servers of the company and this helps in the storing the data of the system in the internal database of the company. This system improves the IT alignment for the company. The system would fix the minor flaws of an ordinary machine in the company. It would also stop the counterfeit coins from being accepted and as a result would increase the in efficiency of the business of the company. In addition to this, the display features integrated into the system would also increase the efficiency of the system. Conclusion For conclusion, it can be said that the IT alignment for any type of businesses is very important any type of organization. The paper deals with the scenario of the coffee vending machine. A brief analysis about the coffee Vending machine and the major functionalities about the coffee vending machine are also provided in this paper. In addition to this the paper provides the model of the coffee vending machine and a brief analysis of the machine. The procedure for the implementation of the coffee vending machine is also provided in this paper. Bibliography Aversano, L., Grasso, C., Tortorella, M. (2016). Managing the alignment between business processes and software systems.Information and Software Technology,72, 171-188. Collins, J. (2017).Turning Goals into Results (Harvard Business Review Classics): The Power of Catalytic Mechanisms. Harvard Business Review Press. Harvey, C. (2014).Business Intelligence: The Goals and Challenges in Operational Decision-Making(Doctoral dissertation). Karpovsky, A., Galliers, R. D. (2015). Aligning in practice: from current cases to a new agenda.Journal of Information Technology,30(2), 136-160. Shanks, G., Bekmamedova, N., Willcocks, L. (2013). Using business analytics for strategic alignment and organisational transformation.International Journal of Business Intelligence Research (IJBIR),4(3), 1-15. Wu, S. P. J., Straub, D. W., Liang, T. P. (2015). How information technology governance mechanisms and strategic alignment influence organizational performance: Insights from a matched survey of business and it managers.Mis Quarterly,39(2), 497-518.

Wednesday, December 4, 2019

Abstract Is a Deceptive Form of Explanation for Pictures Painted

Question: How His Emotional World Influences His Paintings? Answer: Introducation: Abstract is a deceptive form of explanation for the pictures painted by Zao Wou-ki, it would be perfect to say that the images painted by Zao Wou-ki hovers between abstract and nature. Zao,s maximum painting is based on the representation of the Chinese landscape. The career of Zao Wou-ki is definite by way through which Zao reinterpreted Eastern rudiments from 16th hundred century of Yuan Dynasty and Sung landscape paintings[1]. Zao intermingled the natural essences these works in combination with the Western oil paints. The prints and paintings of an artist have apparently avoided schema of forms from a landscape, expressing in a way of abstract emotion of the reflections, colors, land harmony, energy, sky, sea and earth. Why his painting sell so expensive In an International auction Zao received the highest price for his work in the month of April 2013, due its beautiful and splendid use of blue oil painting of the imaginary landscape. He was one of the most traditional Chinese painter in the 20th century and 21st century. The painting sold for nearly around USD 4 million at Hong Kong in the month of April, 2013. Though the blue colour was one of the favourite colours used by Zao Wou-Ki, his blue paintings are very famous, and the paintings are also very rare. The famous painter used this blue colour to signify llakes and river in his paintings. Zao Wou-Ki passed away after three days of his best sale. In current period of time, the demand of Zao's lithographs and art in the secondary and primary market is to increasing among collectors irrespective or East or West. Zao Wou-Ki paintings is about the worldly and emotional experiences in which Zao himself is concerned. The world Zao summons up is not entirely detached or different from him. For this cause, Zao's paintings most of the time be read in dual directions, either as an environment of evocation macrocosmic of experience or as expressions of a sincerely personal topography. The last measurement is an abstract aspect about which modern painters in West incline to be different, perhaps dreading the charge of a romanticism of carrier grade[2]. Comparison with the first wife's paintings The obligation to the abstract paintings monitored his stay in U.S, where Zou encountered expressionism of abstracts first-hand at the peak of his career. Grasped by it to promise himself physically more to the landscape. Zou worked on a painting in an apparent gestural performance and was careful in constructing fact comparison with the first wife's pictures. Until around 1972 he explored the several possibilities of his tactic, in painting which were latter done a larger scale. On the one side, Zou pushed his previous mood to the final effect of drama, nearly as if looking to encourage himself which it could grip his attention forever. But alongside he has taken the ink painting once more[3]. He had educated to grasp the Chinese brush in his childhood with tremendous achievement and with a certain recurrent influence on his training of oil painting. References Hay, Jonathan. 2003. "Zao Wao-Ki". https://www.nyu.edu/gsas/dept/fineart/people/faculty/hay_PDFs/contemporary/Zao-Wou-ki.pdf. Russell, Heather. 2013. "Nature And The Art Of Zao Wou-Ki".Art World. https://news.artnet.com/art-world/nature-and-the-art-of-zao-wou-ki-49681. Savoia, Jessica Anais. 2017. "Zao Wou-Ki: Artist Between Two Worlds". https://www.adturtle.biz/LP_TA/index.cfm?T=437420. [1] Russell, Heather. 2013. "Nature And The Art Of Zao Wou-Ki". Art World. https://news.artnet.com/art-world/nature-and-the-art-of-zao-wou-ki-49681. [2] Hay, Jonathan. 2003. "Zao Wao-Ki". https://www.nyu.edu/gsas/dept/fineart/people/faculty/hay_PDFs/contemporary/Zao-Wou-ki.pdf. [3] Hay, Jonathan. 2003. "Zao Wao-Ki". https://www.nyu.edu/gsas/dept/fineart/people/faculty/hay_PDFs/contemporary/Zao-Wou-ki.pdf.