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Analysis Of The Book Wuthering Heights - 2218 Words

Section I: Significance of Title The title of the book is named after the house where most of the action takes place. In the beginning, Lockwood describes Wuthering Heights. â€Å"Wuthering Heights is the name of Mr. Heathcliff’s dwelling. ‘Wuthering’ being a significant provincial adjective, descriptive of the atmospheric tumult to which its station is exposed in stormy weather. Pure, bracing ventilation they must have up there at all times, indeed: one may guess the power of the north wind blowing over the edge, by the excessive slant of a few stunted firs at the end of the house; and by a range of gaunt thorns all stretching their limbs one way, as if craving alms of the sun. Happily, the architect had foresight to build it strong: the narrow windows are deeply set in the wall, and the corners defended with large jutting stones.† This house is strong, because the people in it are not. Almost everyone that lives in the house goes crazy and dies. It is more of a prison than a home. Section II: Author The author is Emily Bronte. She grew up in a town that reminded her of Wuthering Heights and Thrushcross Grange. Her childhood affected the way she wrote her stories. Many themes of her work involve the supernatural. She wrote this classic novel in 1845. Section III: Setting The time is 1801 and what happens years before then. It takes place at Wuthering Heights and Thrushcross Grange. Even though these places are only a couple of miles apart, they are two veryShow MoreRelatedAnalysis Of The Book Wuthering Heights 1447 Words   |  6 PagesThroughout Wuthering Heights, there are multiple symbols employed to enrich the overall narrative, many of which have a multitude of meanings in order to elevate the text to a higher literary standard. One of the less obvious motifs is books. However, when reviewing their role in both Catherine and Cathy’s lives it is not clear to what degree it would be fair to claim they have a central role in the overall narrative, especially because of the â€Å"plurality† and â€Å"ambiguity† of each individual instanceRead MoreThe Depth of Emily Brontes Wuthering Heights884 Words   |  4 PagesWuthering Heights was written by Emily Bronte’. It would be the least to say her imagination was quite im pressive. Through imagination as a child, Bronte’ and her sisters would write children stories, which inspired some popularly known novels. Wuthering Heights contains crossing genres, changing settings, multiple narrators, and unreliable narrators. George R. R. Martin wrote the book Game of Thrones, which is one of the modern day novels that contain several of Emily Bronte’s writing techniquesRead MoreEssay on The Depth of Emely Brontes Wuthering Heights1345 Words   |  6 PagesWuthering Heights was written by Emily Bronte’, although she first published her novels under a gentleman’s name. Her famous novel has become a classic in English literature. It would be the least to say her imagination was quite impressive. Through her child imagination, Bronte’ and her siblings would write children stories. â€Å"Emily’s childhood created an imaginary nation, originating from the numerous poems devoted to the doings of the Gondals† (Bradner 129). The ‘Gondal’ poems they wrote inspiredRead MoreEmily Brontes Wuthering Heights: Mental Illness and Feminism1663 Words   |  7 Pages Novels are often taken by the reader at face value, and are never looked into on a deeper level. It is important to search for more than what is seen in a literary work. Wuthering Heights is a great example of a book with its own hidden secrets that can surface with a little research. Emily Bronte’s Wuthering Heights depicts the oppression of women from mentally unstable individuals. Overview of Author Emily Bronte was born in Yorkshire, England on July 30, 1818 (â€Å"Emily Jane Bronte 1), to a familyRead MoreWuthering Heights By Emily Bronte1555 Words   |  7 Pages2015 Wuthering Heights (1847) by Emily Brontà « Introduction The novel Wuthering Heights was written in 1847 by Emily Brontà «. The plot unravels with Lockwood visiting his landlord at Wuthering Heights; as Lockwood stays the night, he starts to discover items within the home and later a fatal vision appears, which causes him great curiosity. Lockwood returns back to his residence at Thrushcross Granges and listens to the history of his landlord, Heathcliff; told by an old servant at Wuthering HeightsRead MoreWuthering Heights by Emily Brontà «1111 Words   |  5 PagesIntroduction: Catherine and Heathcliff grow up together at Wuthering Heights, Catherine family home on the northern English moors. Heathcliff arrives as a gypsy founding. Catherine father Mr. Earnshaw raises him as a son. Catherine is a strong and wild beauty who shares Heathcliff wild nature Alone together on the moors Catherine and Heathcliff feel as if they are soul mates. But to Heathcliff despair outside forces begin to pull them a part. After falling in love with Catherine .She reject himRead MoreSimilarities Between Wuthering Heights And The Great Gatsby1126 Words   |  5 Pagesengineers were, Egyptian pyramids reveal how wealthy the Pharaohs were, and the Chinese Terracotta Warriors explain how mighty the emperor was. We tend to think, however, this type of analysis is proprietary to historical sites and figures, but this logic also applies to fictional places and people--especially in Wuthering Heights and the Great Gatsby. Within the worlds of each novel, Heathcliff and Gatsby’s dominant personality traits are developed, not through their actions as some believe, but throughRead MoreEmily Brontes Wuthering Heights: Mental Illness and Feminism915 Words   |  4 Pages Psychoanalytical View of Wuthering Heights Mental illness was viewed as being a self-inflicted disease during the time period Wuthering Heights was written in (Bloomfield 298). Many of the characters suffer from a form of mental illness, but not all of them can be seen as self-inflicted. Most of the illnesses are inflicted by the death of other characters. After Hindley’s wife dies in his arms, he becomes an alcoholic and foreshadows his own death due to his destructive behavior (Bloomfield 291)Read MoreTragic Family Relationships in Wuthering Heights by Emily Bronte 1018 Words   |  5 PagesIntroduction: In 1800 Century, Catherine and Heathcliff grow up together at Wuthering Heights, Catherine family home on the northern English moors. Heathcliff arrives as a gypsy founding. Catherine father Mr. Earnshaw raises him as a son. Catherine is a strong and wild beauty who shares Heathcliff wild nature Alone together on the moors Catherine and Heathcliff feel as if they are soul mates. But to Heathcliff despair outside forces begin to pull them a part. After falling in love with CatherineRead MoreLove In Wuthering Heights Essay1261 Words   |  6 PagesThe story of Emily Brontà «s Wuthering Heights has been one of the most influential and powerful piece of literature ever written. After being published, it garnered a lot of interest because of the theme that was deemed misleading and critically unfit for society. The main theme of the book revolves around the evolution of love, passion and cruelty. During the first half of the book, Catherine showed different types of love for two different people. Her love for Heathcliff was her everything

Women’s Health Preventative Care Free Essays

Women’s Health Care and Preventative Care In the United States, the cost of health care is on the rise and it is almost impossible to receive any health care service at an affordable rate. Whether insured or uninsured, women of all demographics are faced with this problem. Women should not put their health or life at risk because they fear receiving another medical bill. We will write a custom essay sample on Women’s Health Preventative Care or any similar topic only for you Order Now Due to the rising cost of health care and insurance, more women do not receive preventative medical treatment and are currently in debt. Often, women do not receive or delay receiving preventative health care due to the cost of treatment. â€Å"Learning about and practicing preventive healthcare, i. e. maintaining your body and good health throughout your entire lifetime, is properly the best method to prevent disease from happening in the first place† (World Research Foundation, n. d. ). Women require more preventative health care than men and some of these preventative services are not always fully covered by insurance such as mammograms or prenatal care. Prenatal care is not only important for the woman’s health, but also for the child’s health. Preventative health care can detect as well as prevent diseases. Early detection is sometimes the key to curing certain diseases. More women currently are in debt or have unpaid medical bills. The rising cost of health care combined with the current job market has left more women in debt (Robertson Collins, 2011). Health insurance providers do not always provide the coverage women need. In fact recent studies have shown â€Å"few plans offer maternity coverage and young women can face substantially higher premiums than men of the same age† (Robertson Collins, 2011). Although,† The Affordable Care Act is bringing change for women through required free coverage of preventive care services, small business tax credits, new affordable coverage options, and insurance market reforms, including bans on gender rating† the law will not be implemented until 2014 (Robertson Collins, 2011). Something needs to be done before then in order to cut down on debt from unpaid medical bills. The federal as well as the state government should implement more programs that offer preventative care at income based rates. There should also be more programs directed at lowering medical bill debt. A debt acquired by a medical bill should not affect a person’s credit. More insurance companies should provide age and gender specific plans at affordable rates, in order to ensure everyone receives the proper healthcare needed. Although, some of these solutions may have to be funded with higher taxes or budget cuts, these programs would definitely have a large impact on the amount of women who receive preventative care. Preventative care is a necessity in ensuring healthy living for women. Receiving preventative care is a cost effective way to save lives by treating and diagnosing diseases and conditions early. Insured and uninsured women should be able to receive preventative care without worrying about how and if they will pay the medical bill. Although women’s health care cost is a rising issue in the U. S, there are cost effective solutions to alleviate this problem. References Robertson, R. , Collins, S. R. (2011) Realizing Health Reforms Potential. Retrieved fromhttp://www. commonwealthfund. org/~/media/Files/Publications/Issue%20Brief/2011/May /1502_Robertson_women_at_risk_reform_brief_v3. pdf World Research Foundation. (n. d. ) Preventive Health Care Helps Everyone. Sedona, AZ: WorldResearch Foundation. Retrieved July 15, 2012 from http://www. wrf. org/preventive-healthcare/preventive-healthcare. php How to cite Women’s Health Preventative Care, Essay examples

Ntu Career free essay sample

10 out of 10 points Which of the following valuation measures is often used to compare firms which have no earnings? Price-to-book ratio P/E ratio Price-to-cash flow ratio Price-to-sales ratio 2. award: 10 out of 10 points When Googles share price reached $475 per share Google had a P/E ratio of about 68 and an estimated market capitalization rate of 11. 5%. Google pays no dividends. What percentage of Googles stock price was represented by PVGO? 92% 87% 77% 64% 3. award: 10 out of 10 points A firm is expected to produce earnings next year of $3. 00 per share. It plans to reinvest 25% of its earnings at 20%. If the cost of equity if 11%, what should be the value of the stock? $27. 27 $50. 00 $66. 67 $70. 00 g = . 25 x . 20 = . 05; P = 3. 0/(. 11 . 05) = 50. 00 4. award: 10 out of 10 points The free cash flow to the firm is reported as $198 million. The interest expense to the firm is $15 million. If the tax rate is 35% and the net debt of the firm increased by $20 million, what is the market value of the firm if the FCFE grows at 3% and the cost of equity is 14%? $1,893 billion $1,893 billion $2,497 billion $2,585 billion $3,098 billion FCFE = 198 15(1 . We will write a custom essay sample on Ntu Career or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 35) + 20 = 208. 5. Value = 208. 25/(. 14 . 03) = 1893. 5. award: 10 out of 10 points If a firm has a free cash flow equal to $50 million and that cash flow is expected to grow at 3% forever, what is the total firm value given a WACC of 9. 5%? $679 million $715 million $769 million $803 million Total value = 50/(. 095 . 03) = 769. 23 6. award: 10 out of 10 points A firm has a stock price of $54. 75 per share. The firms earnings are $75 million and the firm has 20 million shares outstanding. The firm has an ROE of 15% and a plowback of 65%. What is the firms PEG ratio? 1. 50 1. 25 1. 10 1. 00 7. award: 10 out of 10 points Ace Frisbee Corporation produces a good that is very mature in their product life cycles. Ace Frisbee Corporation is expected to pay a dividend in year 1 of $3. 00, a dividend in year 2 of $2. 00, and a dividend in year 3 of $1. 00. After year 3, dividends are expected to decline at the rate of 2% per year. An appropriate required return for the stock is 8%. Using the multistage DDM, the stock should be worth __________ today. $13. 07 $13. 58 $18. 25 $18. 78 8. award: 10 out of 10 points Caribou Gold Mining Corporation is expected to pay a dividend of $4 in the upcoming year. Dividends are expected to decline at the rate of 3% per year. The risk-free rate of return is 5% and the expected return on the market portfolio is 13%. The stock of Caribou Gold Mining Corporation has a beta of -0. 50. Using the CAPM, the return you should require on the stock is _________. 2% 5% 8% 9% 9. award: 10 out of 10 points You are considering acquiring a common share of Sahali Shopping Center Corporation that you would like to hold for one year. You expect to receive both $1. 25 in dividends and $35 from the sale of the share at the end of the year. The maximum price you would pay for a share today is __________ if you wanted to earn a 12% return. 31. 25 $32. 37 $38. 47 $41. 32 10. award: 10 out of 10 points Each of two stocks, A and B, are expected to pay a dividend of $7 in the upcoming year. The expected growth rate of dividends is 6% for both stocks. You require a return of 10% on stock A and a return of 12% on stock B. Using the constant growth DDM, the intrinsic value of stock A _________. will be higher than the intrinsic value of stock B will be the same as the intrinsic value of stock B will be less than the intrinsic value of stock B more information is necessary to answer this question award: 11. ward: 10 out of 10 points If a firm increases its plowback ratio this will probably result in a(n) _______ P/E ratio. higher lower unchanged unable to determine 12. award: 10 out of 10 points If a stock is correctly priced then you know that ____________. the dividend payout ratio is optimal the stocks required return is equal to the growth rate in earnings and dividends the sum of the stocks expected capital gain and dividend yield is equal to the stocks required rate of return the present value of growth opportunities is equal to the value of assets in place

Is Medea Justified in Her Actions free essay sample

Is Medea Justified In Her Actions? Is the killing of anyone ever Justified? Is the life of one individual more important than another? In Euripides, Medea, Medea kills the princess of Corinth, the king of Corinth, Creon, as well as her own children. Are her actions the actions of an insane, distraught person or those of wise, foreign, barbaric woman trying to protect her children? Through the story of Medea, Medea Justifies the killing of others while several other characters portray the injustice of her killings. Can a person show a ustifiable reason to the killing of others or is the killing of others Justified under certain circumstances? In the work prologue, we discover Jasons quest to Colchis to obtain the Golden Fleece as a task created by his uncle, Pelias in order to claim his rightful inheritance. He assembles a team and they set sail for Colchis on the ship, the Argo. We will write a custom essay sample on Is Medea Justified in Her Actions? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Upon reaching Colchis, King Aeetes instructs Jason to plow a field with a team of fire- breathing bulls. (Euripides 527). During his task, he meets King Aeetes daughter, Medea. Medea, proficient in magic, helps Jason. She helps him plough the field, lull the dragon to sleep, steal the fleece, and escape back to Greece, killing her own brother to distract the attention of their enraged Colchian pursuers. Jason and Medea go to lolcus only to realize Pelias goes back on his word. Angered by this, Medea talks Peliass daughters into boiling him alive by telling them the act will make him immortal. The treacherous act forced Jason and Medea into exile. Jason and Medea marry, have children and move to Corinth. While in Corinth, Jason divorces Medea to marry the princess of Corinth. Because of the divorce, Medeas spirit is destroyed and she is driven to an unstable state of mind. As the story begins, the Nurse is wanting to reverse history, l wish the Argo never had set sail My mistress then, Medea, never would have sailed away the sight of Jason never would had stunned her spirit with desire. She would had never had persuaded Pelias daughters to kill their father never had to come this land Corinth. (Euripides 529). The Nurse continues to mourn the situation, Justifying Medeas feelings Poor Medea, mournful and dishonored sobbing to herself for her ear father, her land, her home, and all that she betrayed for Jason, who now holds her in dishonor. (Euripides 529) but also mentions the instability of Medea, Shes a terror. Theres no way to be her enemy and come out as the victor. (Euripides 529). Medea enters the story, quite evident that she is emotionally unstable. She curses her life, the lives of her children as well as Jasons life as she mentions, O children, accursed, may you die with your father! Your mother is hateful. Go to hell the whole household! Every last one. (Euripides 531). The Nurse notates her anger, But er glance is as fierce as a bulls, let me tell you shes wild like a lion whos Just given birth whenever a servant tries telling her anything. (Euripides 533). Medea pleads to the women of Corinth to keep quiet if she finds a way to repay her husband tor his betrayal. She acknowledges now women teel interior to men but when betrayed, a woman who is betrayed With an injustice in the bedroom, there is no other mind more murderous. (Euripides 535). After she speaks with the women of Corinth, she encounters the king of Corinth, King Creon. King Creon tells Medea how he feels, Im afraid of you. You could hurt my daughter, even kill her Im terrified of whats in your mind. I trust you less than ever (Euripides 535-36). While King Creon feels he is doing the right thing by exiling Medea and her children, it is evident that exiling Medea made her even more emotionally unstable, hes granted me a single day to turn three enemies to three dead bodies: the father, and the bride, and my own husband. (Euripides 538). The story continues with the strophe reiterating how Medea moved away from her home and how she was driven insane exiled to a foreign home only to have her husband ishonor and betray her. Medea encounters Jason. Jason explains to her that her own evil actions have caused her to be exiled for she spoke against the royal family. (Euripides 540). Rationally he explains to her that, However much you hate me, I could never wish you any harm. (Euripides 540). For a man who is having his life threatened, he is calm and trying to explain to Medea that she needs to stop her foolish, crazy actions. Responding emotionally unstable, Medea yells at Jason, miou are the worst! Youre loathsome! She continues screaming trying to illustrate the pain that he has caused er. Jason responds telling her he took her away from her old home, a barbaric kingdom and brought her to a civilized place where she now has fame. He even mentions that he didnt leave her to betray her but he left her to support her and their kids; to give them a life they could enjoy, My motive was the best; so wed live well and not be poor. He goes on to tell her that all women are the same; as long as they are satisfied at home, life is well but let there be some setback or disaster in the bedroom and suddenly you go against the things you should value the most. Jason nd Medea continue to exchange conflicting words without settling anything. Later in the story, Medea summons Jason to offer him a peace offering. She begs for his forgiveness for her previous outbursts and begs Jason to persuade his bride to let him have the children with them so they wont have to deal with the exile. After a little persuasion, Jason accepts her apology and lets their children present his new wife with gifts. Unknown to the children, the gifts contained poison. The poisonous crown and robe killed the princess. The king threw himself on top of the princess which lead to his death. The news of their death got back to Medea where she mentally tries to Justify her next action, l must kill my children and leave this land before I give my enemies a chance to slaughter them. (Euripides 559). Medea slaughters her children. Before she leaves she encounters Jason. Jason, having learned of the fate of his children, curses Medea, miou hateful thing. (Euripides 559). Medea responds telling him that because he betrayed her, she couldnt let him go on to lead a pleasant life. (Euripides 563). Medea wants to make Jason feel lonely, lonely as she felt when he betrayed her. Jason continues to try to understand why Medea killed all the people. Medea explains the killings as a way to make Jason feel pain. She even makes sure he knows that everything that happened was to hurt him, to do to him what he did to her, I Jabbed your heart. Throughout the story, Medea tries to Justity ner actions based on teeling betrayed by her husband. Several characters Justify that her actions are wrong. Even though kings arent supposed to show fear, King Creon tells Medea he is afraid of her. Jason overly tells Medea that he wasnt trying to betray her but to help her; help her by aving fortune so he could take care of her and their kids. Medea continuously through the story tries to portray that she will kill people because of Jasons betrayal. In the end, she kills her children because she believes they will die because of her actions. They will die anyway, and since they must, I will kill them. King Creon, Jason makes valid points of Medea being emotionally unstable. In the end, Medea does not prove that it is okay to ever kill anyone. Works Cited Euripides. Medea. The Norton Anthology of World Literature. Volume l. W W Norton, 2012. 525-564. print.

Downfall of Rome essays

Downfall of Rome essays Two brothers began to fight over who was going to settle on the great peninsula of Italy, Romulus and Remus both saw what this great fertile land had to offer. Eventually, Romulus won the fight by killing his brother. In 753 B.C., Romulus planted The Roman Roots where they started to grow into the giant Sequoia and develop one of the greatest civilizations in history. The city of Rome was founded. The empire was prosperous and strong, but eventually experienced a downfall, all starting with its division into two separate empires. The Western Roman Empire had internal decay in political and military issues, economics, and religion, thus causing the fall of Rome The political and military state of Rome started to become corrupted and declined after the death of Marcus Aurelius in 180 A.D.. When he died, his spoiled son, Commodus, took over. Commodus was a poor leader causing civil wars and tribes around the Mediterranean to invade. To deal with the invasions, by spend thousands of dollars on imported glass and silks and other precious item for himself and his palace. the size of the Roman army was increased. Serfs, one of the largest and lowest groups of the population, were not allowed to serve in the army. Patricians, high upper class and plebeians or middle class, looked at serfs as if they were "bound to the soil.... excluded them from political responsibilities.(The Course of Civilization) Many foreigners, especially Germans, took part in the army, as mercenaries. With outsiders joining the army, the army did not succeed. These people did not have the same drive as a Roman, to protect the empire. Rome had to bring in mercenaries and s upport the army which took money, money the empire didn't have. In order to raise money for the army, the government raised taxes. With these political and military issues, the empire weakened, and so did the economics. Economics of the empire hit an all time low with continued spe...

Public Law Assignment Example | Topics and Well Written Essays - 1000 words

Public Law - Assignment Example However, this must be done with due regard to the fundamental human rights. Therefore, an Act enacted to provide a regulatory framework must entail forward thinking approaches that incorporate holistic mechanics to safeguard infringement of individual entitlements enshrined in the bill of rights and championed by the international law. Case 1 Understandably, the fictitious Airport Security Act 2009 apparently gives the UK minister of security a free hand in devising and imposing bans on persons deemed to be security threats within the vicinity of the UK airports. As a matter of first principle, the legality of the Security Act 2009 should be operationalized within the guiding framework of the public laws as well as approved international laws. Due to a Ministerial policy of an always imposition of restrictive orders on persons considered threats to the Airport safety, Roger found himself dismissed unfit to serve as a security personnel in the Airports on grounds of assault allegation s on Alexa, his former girlfriend. According to the law, discretionary powers must be exercised within reasonable limits. Article 7 of the International Covenant on Civil and Political Rights (ICCPR) prohibits inhuman treatment or punishment. Further, article 3(2) of the same Acts put limitations on imposed restriction orders by requiring precise and clear definition in situations where curtailment of rights are involved. The minister’s directive is no doubt a preservative measure to safeguard â€Å"Human security,† which requires absence of violent conflicts.1 However, minister discretion baring Roger from access to all airports amounts to unreasonable use of powers. In Secretary of State for Education v Tameside M.B.C. case involving the use of discretionary powers, the Secretary of State power to reject applications authorizing the running of grammar school system was under review. Accordingly, the court found the Secretary of State for Education discretion to rejec t the system unreasonable stating that the grammar school system had a proven track record and was therefore a reasonable system of education.2 The basis of the directive in Roger case cannot be ascertained with finality as there is no evidence of criminal record to warrant a label of security threat to all airports. Thus, Roger has legal standing to seek redress in a court of law provided his testimony satisfy the "victim test" stipulated under Article 34 of the Human Rights Act of 1998. According to Section 4 of the Security Act 2009, the Minister of Security has power to issue a restriction order in circumstances he thinks fit. This process regardless of whether the such decisions are ‘right’ or ‘correct’ decision, falls far short of the procedural legal basis in reaching a conclusive decision as set forth under the law. The Act is in contravention of the constitutional right of access to the courts at common law,3 which also involves the right to be hea rd and unimpeded access to a legal expert to offer legal advice and assistance.4 Case 2 One of the fundamental principles of the Geneva Convention Asylum agreements provides for surrogate protection to those failed by their home countries.5 Filling the void of a â€Å"factual breach of bond† between the citizen and the motherland, the law affords protection to the

Sports Team Mascots Assignment Example | Topics and Well Written Essays - 500 words

Sports Team Mascots - Assignment Example The textbook mentions that the Native Americans in South Dakota only make up seven percent of the entire state population but at the same time they make up 53 percent of the total welfare recipients. That is likely putting a large strain on government budgets which is why they imposed limits to it. When they can’t get good health insurance because they are poor, they are bound to have inadequate health services. Plus, the textbook mentions that many of them are untrained and uneducated in higher degree programs, so it is likely that they don’t have adequately trained health care professionals to deliver it on the reservations. This is based on cultural identity, as Jewish individuals, despite their different practices and beliefs regarding their religion all share a common heritage. This is why they can best be characterized as an ethnic group. Since they do not share physical attributes, such as facial features (found in the Mongoloid group), they should not be categorized in any other fashion. Their common heritage is briefly described in the textbook, but it shows how these groups are all inter-connected in some fashion which has built their culture that exists today. Meaning, they have common foods that different regions prefer as well as different dress, but the core values and beliefs that drove their ethnic heritage is still very much a part of their culture today.

Digital Technology and Cinema Culture Essay Example | Topics and Well Written Essays - 1750 words

Digital Technology and Cinema Culture - Essay Example Let the paper analyze some of the specific examples that had some direct positive impact over the cinema culture and its horizon. The simplest example is that of video editing that comprised extensive efforts and demanded a huge amount of money before the technology entered the market. However, with the digital revolution, the visual effects tools made it easier for the filmmakers to manipulate the video in any form they wanted with desired animation and other editing. In 1984, computers such as Macintosh came in the market that were specially designed to have a graphical user interface, these were first ever of its kind that penetrated into the world of cinema giving it even more fame and multiplicity (Willis, pp.7, 2005). More tools such as Adobe Premiere, Adobe After Effects, Photoshop, Macromedia Director, Macromedia Flash and all the other kinds gave more horizon to the cinema culture and gave the filmmakers access to perform multiple tasks with perfection and novelty. The seque nces of images, special effects, distinctive colouring, imaginative animations and much more merely became possible with digital technology revolution (Willis, pp.7-8, 2005). It helped the cinema culture attract and gain more audience as compared to the earlier decades. Subsequently, when producing a film became comparatively hassle-free, more people started investing in this business and thus, the number cinemas grew with an increasing film being produced every year with the use of digital technology. Apart from the latest technological tools used by the cinema industry, the inventions such as newly-designed cameras and video-capturing tools that had modernized elements with specially designed features and functions made the videos look a lot more fascinating and compelling. On the contrary, cinema might have assumed new venues of popularity and fame due to digital technology and its implications on the cinema culture but, on the other hand, digital technology penetrated in the mar ket in such a fast pace that people became more interested in buying those technologies and making them a part of their aesthetically designed house. People started enjoying their micro cinemas at home rather than taking out time and going to the proper cinemas outside their comfortable houses (Lister, pp.22-23, 2001). The preference of buying techno products such as plasma screens, advanced audio speakers and other appliances became more preferable and a status quo than being interested in going to the cinemas to watch movies and other shows. It is possible that many of us must have heard about Marshall McLuhan’s popular phrase Medium is the Message. McLuhan, quite reasonably and with valid points, suggests that the medium that is used to convey any type of message or information holds a significant importance in the pace of that information being carried to the receivers (Yamamoto, pp. 500-501, 1998). It depends on the medium that is used to convey a message, that how long would it take for the message to reach to its targeted audience and how far would the message go. Thus, the influence of the message is not the message itself but, the way used to send it. This means that the receivers or the intended message focus more upon and take more interest over the kind of medium utilized. Their preference depends upon how effective is the medium and how much do they like it. The acceptability of the message is thus a later factor. In the same way, it is said that cinema comprises those elements that lure and attract the young generation more than any

Adolescents Influence In Family Decision Making Social Work Essay

Adolescents Influence In Family Decision Making Social Work Essay Abstract This study examines the perceptions and behaviour of Adolescents influence in family decision making in different family circumstances and what products are more influenced through the child more than the adults. The research findings are based on different journal articles that show how much power children have in the decision making process based on different members of the family perceptions and how they get their message across on what they want through coalitions or solely on their own. In terms of family types; single-parent and step-families are increasing in todays society compared to intact families. Its now not unusual for parents to divorce and move on with someone else. This will make an impact on the childs role in family purchase decision making. Being a child in a single-parent family suggests that they have more power in the household whereas being a member of an intact family can cause disruption as there are many people to please in that household. However, in many circumstances the parents perceptions do not always agree with the childs opinion. A number of explanations and examples for this are given. Introduction For a long time, Adolescents have played an important role throughout family purchase decisions, with their capability to have an impact to directly and indirectly influence the decisions families make when purchasing products. (Thomson, Laing, McKee, 2007). This is put into practice throughout all different types of families, whether it is an intact family of 4, a family triad, a single parent family of 1 or a mix matched family making it a step-family. This means the perceptions on adolescent influence in decision making depend on what family the child belongs to. Adolescent behaviour is also important when the child makes an input into the decisions of purchase making. Coalition being the behaviour type authors focused on as children recognized a frequent need for a purchase between more than one family member and in the end created a coalition (Thomson, Laing, McKee, 2007). These include different members of the family working together with the child in order to make a stronger influence on family decisions whether it is a parent or a sibling. Children therefore play a part in family decision making no matter how big or small and the products in question can vary from groceries to holidays. Junk foods, toys, kids clothes and accessories for school are a few of the main products that children have been known to have a strong influence on. (Mangleburg T. F., 1990). Research on how much influence children have on certain products will also be explored. Childrens Behaviour -When and how do they influence buying? Children constitute a huge secondary market by influencing family purchases (McNeal, 2008). As soon as children have established the concept of using communication skills to make demands, they are then more involved in making an influence in family decision making. (Furnham, 1998), showing that from the moment they can talk, they will automatically have an influence on buying highlighting the fact that children are becoming a significant part to the family decision making process on purchases at an early age. The most important behaviour for a child when they influence decision making is the use of knowledge and information. When contemplating child purchase power, research shows that this is known as a uniting topic (Thomson, Laing, McKee, 2007). To get a child to participate in the decision stage of buying, knowledge is a great source as it points out the cleverness or experiences that the children have when a purchase is carried out by a family (Thomson, Laing, McKee, 2007). Inf ormation is also important as it shows whether the child knows about the products in question or not. Knowledge and Information is a significant role in justifying the childs choice of products and is the main factor on how they influence on the buying stage. Parents can decide whether the childs reasons are enough to buy the product in question through their knowledge and information. Studies show that lots of parents encourage the use of knowledge and information and are foreseen characteristic of some family decision making (Thomson, Laing, McKee, 2007). How do coalitions affect adolescents decision on purchasing? Coalition behaviour involves at least two members of a family to get together to form an alliance to influence the end decision of a purchase within a family. This process is often termed majority rule (Pearson, 1989). Majority rule may have a bigger impact than just the childs influence; therefore a child may form a coalition with another family member to make their influence have more of an impact on the final decision of the purchase. However, there have been authors that convey this as lousy behaviour. (Sheth, 1974) and (Belch et al. 1980) felt that coalition would be few and far in between. Coalitions can come in different forms: Mother and child, Father and child or if there is more than one child, siblings could get together. This can benefit the child as one parent might be easily persuaded into giving the child what they want and more understanding of the childs needs. It was distinguished that a significant number of coalitions occurred between mothers and daughters than mo thers and sons concluding that when the same-sex members of a family unite to influence a decision on a product that they have more power than what different-sex members would (Beatty Talpade 1994). This would suggest that daughters had more chance of having a stronger influence in the family household compared to sons when they both wanted to convince their mother of purchasing a product. Family Triads Should the child have an input? Before buying products for any family, there is a decision making process that they must think about in order to come to a concluding decision on what to purchase if they have children. This involves three stages of decision making; gathering information, negotiating within the family and the overall decision on what to buy. Family triads are found to disagree in their perceptions of adolescent influence on both a wide selection of products and general influence in family decision processes. Mothers, fathers and children all, however agree that children have some influence in purchase decisions for a variety of products. Previous research has put forward the fact that two family members can disagree in evaluating purchase decision influence (Burns Hopper 1985). Each member of the family triad had different opinions on how much power the child actually has when deciding on purchasing a product in studies shown in the Journal of Consumer Research. Out of 161 families from North Wester n Towns, The children themselves agreed that they have influence when shopping with parents, suggesting stores, brands and products, paying attention to new products and learning the best buy. Mothers and Fathers also agreed to some extent that the child had general influence on these factors when buying products. However, suggesting the price was one of the factors that all three members of the family agreed that the child does not have influence on the price of products (Foxman, Tansuhaj, Ekstrom, 1989). This concludes that not only does the children themselves think they have influence throughout the decision making process on products but the other members of the family also agree that children should have their say. Overall, family members regarding adolescent purchase decision influence came to the conclusion that: Families that agreed on the same level of childrens influence had older fathers, a concept-oriented family communication style, less children, and a mother who was a housewife. This would suggest that a family triad let their child have more influence than a family with more children would. Other family types does the child have more power in a single-parent family? There are different types of families where a child can influence on family decision making when buying products. Family triads are one but there are also single-parent and step families. Intact families can also have more than one child meaning there are more children to have an influence on the decision making. There has been a growth in rapid social change over the years where parents are divorcing, children are living with only one of their parents or living with people that are from another family due to one of the parents falling in love with someone else. The more a family has differences, the more likely they will have to face difficulties when making important decisions as consumers (cf. Rindfleisch, Burroughs, and Denton 1997). Children gain their knowledge and information through events such as going to school, eating out and technology. However, their family members are one of the most important sources a child could possibly have through their period of consumer learning (Moschis and Churchill 1978; Moschis and Moore 1979; Ward 174). This contributes to the fact that children grow up surrounded by their family; therefore they learn from their mothers, fathers or an older sibling. Depending on what family type the child belongs to, there will be a different level of how much influence they have. Studies (Darley and Lim 1986) show that children in single-parent families had greater influence in a family outing decision than did children in dual-parent families, but did not ascertain between intact and step-families. If a child has to convince two parents, it may be difficult as they will both have different opinions on products or will have the same opinion which will overrule the child, therefore a childs influence in a single-parent household will be much stronger as there are less people to convince and the bond between the child and parent will be stronger as they have went through certain circumstances to end up on their own. Two parents can joi n forces to back up each other when they dont agree with the childs influence when purchasing a product (Mangleburg, Grewal, Bristol, 1999). This will make the childrens influence weaker compared to the single-parent household which appears to be much stronger. A single-parent household is seen as the family type to let the child have a stronger influence on decision making when purchasing products as the child only has one parent to do their parental duties which means the parent will have weaknesses in parental control and find it difficult to be the boss all the time meaning the child will have more independence and equal rights to influence to balance out the family (Dornbusch et al. 1985; Hetherington 1988; Thomson, McLanahan, and Curtin 1992). Family type does have an impact on adolescents influence on decision making and specifically, children in single-parent families had greater influence in both types of decisions as compared with children in step families and intact fami lies (Mangleburg, Grewal, Bristol, 1999). Products children have more influence on Junk foods, toys, kids clothes and accessories for school are a few of the main products that children have been known to have a strong influence on (Mangleburg T. F., 1990). This information suggests that children have more power over products and services that they will be experiencing themselves as children tend to have more of an influence in product sections that are most significant to the children themselves (Beatty and Talpade, 1994). Contrasting, children dont have much of an influence on decision making for products that are expensive and not used only by the child (Foxman et al.,1989a, 1989b). Expensive items such as cars, TVs and furniture are not influenced as much by children as these as more expensive buys. The adults of the household feel they have more influence on bigger products that will affect the whole of the family. Studies from the Journal of Consumer Research (Foxman, Tansuhaj, Ekstrom, 1989) back this up as out of 161 families from North Western Towns, Both the parents and children feel that the parents should have more say overall on products such as Home computers, cars, furniture and cable TV. It appears that children do have a strong influence when it comes to decision making in the family based on purchasing products. However, the childs influence on certain products is weaker than the parents due to the price and who uses the product. Although some research has found next to nothing child influence for bigger, family buys, others have found higher levels of influence than was foreseen by earlier research ( Foxman Tansuhaj 1988; Lee and Beatty 2002). Family holidays and events that see the family come together to have fun are other purchase decisions that children can play a part in influencing (Mangleburg T. F., 1990). These products are seen as expensive and a treat for all the family, this shows that some authors may find that children dont have much influence on expensive products whereas others will find children do have in fluence on products more expensive than clothes and food. Grocery shopping within different families It has been proven that children have more influence on food shopping than expensive buys in the last section of this review. It has also been proven that children have different levels of influence in different family types whether it is a single-parent or dual-parent family. Studies show even though children have a strong influence on purchasing food, the level of influence differs depending on what family the child belongs to. Children in single-parent families are more likely to take part in family tasks, such as going shopping than other children do in bigger families with their parents relationship still intact. (Weiss 1979; Taylor, Glynn, and Taylor 1985; Peters 1985). This would suggest that the child in the single-parent family will participate more in influencing what is bought for the grocery shop compared to the dual-parent family where there are more people to influence what is bought. Summary and conclusion Adolescents influence the decision making process in the family when purchasing products. However, there are different levels of influence and this depends on what family type the child belongs to as this has an effect on how the parents relationship with the child helps or hinders on how much influence the child has when the decision making process is being done when buying new products differing from groceries, clothes and holidays. The review helped come to the conclusion that the most important behaviour for a child when they influence decision making is the use of knowledge and information. Knowledge and Information is a significant role in justifying the childs choice of products and is the main factor on how they influence on the buying stage. It has been discovered that a childs influence solely on their own against both parents can sometimes be overruled by the parents. This is when the child forms a coalition to get more support to gain a stronger influence on the decision making process It was distinguished that a significant number of coalitions occurred between mothers and daughters than mothers and sons concluding that when the same-sex members of a family unite to influence a decision on a product that they have more power than what different-sex members would (Beatty Talpade 1994). This review suggested that different family types determined the level of influence the child had, this included single-parent families, triad families and step families. However, mothers, fathers and children all agreed that children play a part in influencing a number of products in purchase decisions (Foxman, Tansuhaj, Ekstrom, 1989). Products that children have more influence on were also researched. Findings suggest that products that are actually used by the child themselves and not expensive were found to be the products children had more influence on whereas children have been found to have less influence on decisions making for products that are more expens ive and are not just used by the child themselves (Foxman et al.,1989a, 1989b). Grocery shopping is another group of products that children have influence on and the level of influence depends on what family type they belong to. It was found that children belonging to the single-parent family have more influence than children in a dual-parent family. Overall there are different levels of influence a child has when the family are making decisions and it all depends on family types, children behaviour and the products in question.

Hispanic :: essays research papers

The Latin community in the area which I reside is weak. This is evident in the fact that less Hispanics are involved in community affairs than members of other ethnicity's. It would be rather interesting to be able to know what goes into government policy making. The enthusiasm that I would put forth on this topic would be exemplary. The experience that qualifies me to partake in this institute is my involvement in SALSA (Spanish And Latino Student Association), as well as the fact that I am an aware, young, Hispanic male who sees what really goes on in the Latin community.   Ã‚  Ã‚  Ã‚  Ã‚  It would be quite educational to learn what occurs during the process of the making of government policies which greatly affect our community. Perhaps if more teenagers were given the opportunity to be educated on these matters the community could be bettered. This would improve the community by enriching the lives of youths and pointing them in a direction to work for the people, not against them.   Ã‚  Ã‚  Ã‚  Ã‚   The work as well as effort that would be put forth by me would have to be exemplary. This is so because one of my goals in life is to better myself so that I may in turn better my community, especially the Hispanic community. This is an opportunity that I have been waiting for to arise. This is my chance to make a difference.   Ã‚  Ã‚  Ã‚  Ã‚  The experiences that qualify me to take part in this institute's affairs are that I am an active member in the SALSA group, as well as the fact that I am a young, Hispanic male who sees how the Hispanic community works. My involvement in the SALSA club has given me a way to reach out to the Hispanic students in my school, in hopes that if I can inform these young individuals about how to better the community, as well as teach them a sense of self pride in themselves. Then hopefully when they go out into their towns they will also try to make a difference.

Symbolism in “A Rose for Emily” by William Faulkner

Abel Girma Mr. Lucky English Language and Literature IB Y1 04 September 2012 Word Count: 1087 The Consciousness of Symbolism in â€Å"A Rose For Emily† â€Å"Then we noticed that in the second pillow was the indentation of a head. One of us lifted something from it, and leaning forward, that faint and invisible dust dry and acrid in the nostrils, we saw a long strand of iron-gray hair† read the last lines of â€Å"A Rose for Emily†, a short story written by the American author and Nobel Prize laureate William Faulkner, published in 1931.These last words put a shocking and rather disturbing end to this piece depicting the strange life of Emily Grierson, and her obdurate refusal to adapt to changes in her life, living in her own non-transforming world. Various symbols are used throughout the text although Faulkner did not use any kind of conscious symbolism. The validity of this claim lies in his Nobel Prize in Literature acceptance speech, his biography and his in terview on the meaning of â€Å"A rose for Emily†. Emily Grierson is portrayed as â€Å"A fallen monument† from the very beginning of the story as the narrator starts to describe the ceremonial procedures following her death.Soon after, her home, a â€Å"house that had once been white, decorated with cupolas and spires and scrolled balconies in the heavily lightsome style of the seventies. † (Section I of â€Å"A Rose for Emily) Is adjacently undermined as â€Å"an eyesore among eyesores † (Section I of â€Å"A Rose for Emily), invaded by the deteriorating and industrialized neighborhood that used to be an illustriously reputed neighborhood in the 1970s. This is a fine example of symbolism used in the text as it gives an inkling of the stubbornness in which Emily, a southern woman has lived her life cleaved to the past and immersed in old southern traditions.Similarly, the â€Å"Rose† in â€Å"A Rose for Emily† is a thought-provoking symbo l due to the fact that it is never mentioned throughout the totality of the story. The interpretations of the â€Å"Rose† are unbounded and debatable. It can be understood as being a rose of sympathy Faulkner would like to dedicate to Emily for she had lived an undeniably grim life of solitude and misery. It can equally be interpreted as a rose representing the love Emily desperately needed in her life but never truly found, seeing as a rose generally symbolizes love in most cultures.Likewise, another shock kindling and incontestably pivotal symbol in the story is confined within the last sentence, â€Å"the long strand of iron-gray hair†. These last words reveal the gruesome moral depravity in which Emily lived a great part of her life, sleeping beside the decaying corpse of Homer, the first potential true-love in Emily's life that decided to leave her soon after they started spending a lot of time together. The strand of hair symbolizes the often heretical path which people cross in the quest for love.There is not a clear enough correlation between most of the symbols and what they symbolize for them to have been an application of conscious symbolism. Furthermore Faulkner himself has ascertained that he doesn't rely on consciously using symbolism to channel his philosophies as an author. Effectively, William Faulkner blatantly denies using any conscious symbolism. He explains: â€Å"I was simply trying to write about people [†¦] it was no intention of the writer to say, Now let's see, I'm going to write a piece in which I will use a symbolism [†¦]† (extract from the interview â€Å"A Meaning of â€Å"A Rose for Emily†).This quotation further validates the argument that the symbolism used by Faulkner was unintentional. Ray Bradbury, one of the most renowned American writers of the 20th century explains his take on this topic in a response to a letter from a 16 year old student in 1963. The student wanted to know more abo ut the use of symbolism in literary works so Bradbury stated that â€Å"I never consciously place symbolism in my writing. That would be a self-conscious exercise and self-consciousness is defeating to any creative act. [†¦ ] The best symbolism is always unsuspected and natural. Faulkner also describes his main interest as a writer as being about â€Å"the human heart in conflict with itself† (Nobel Prize acceptance speech). Thus, his sole purpose as a writer goes against the act of using conscious symbolism. Accordingly, in â€Å"A Rose for Emily†, he tells the outlandish, yet compelling story of Miss Emily Grierson's internal conflict in the pursuit of happiness and love that leads her to unorthodox – even satanic – acts. Faulkner's â€Å"A Rose for Emily† offers symbols with limitless interpretations and therefore proves to a considerable extent that the use of those symbols weren't conscious.Moreover, It would be contumelious not to agree with the author when he denies the use of conscious symbolism. Symbolism in â€Å"A Rose for Emily† is consistently present and plays a major role in the possible readers' interpretations of the story's message. However, the use of symbols in a literary work is inevitable and isn't always a product of a conscious act. This means that the fact that there is symbolism in the text isn't a contradiction to the author's initial goal which is writing a mere ghost story inspired by â€Å"a picture of a strand of hair on the pillow in the abandoned house. (Interview on The Meaning of â€Å"A Rose for Emily†). Consequently, the unconscious symbolisms within the story give it sophistication and depth due to its readers' interpretations, not due to the immoral act of imposing symbolism upon them. The American author Isaac Asimov encompasses the answer to the controversy of the use of symbolism in his response to the same letter about from the 16 year old student: â€Å"Conscio usly? Heavens, no! Unconsciously? How can one avoid it? † Faulkner did not use conscious symbolism in â€Å"A Rose for Emily†.Numerous applications of symbolism are present in this short ghost-story and they do hold a non-negligible position in the overall meaning of the piece based on each readers' understanding of them. Nevertheless, the literary virtuoso, William Faulkner did not intentionally place these symbols as a means to convey his message in a latent manner. In lieu of doing so, he straight-forwardly wrote a simple ghost-story containing inevitable symbols. As a matter of fact, we may ask ourselves: to what extent is the conscious use of symbolism in literature in order to convey message, efficient and effective?

25 Weird, Witty, and Wonderful Language-Related Terms

25 Weird, Witty, and Wonderful Language-Related Terms Grammar nerds everywhere will appreciate these weird, witty, and wonderful terms used to describe language. Use them to amuse and perplex your friends and teachers.   Allegro speech: the deliberate misspelling, respelling, or non-standard alternative spelling of words (as in the Chick-fil-A slogan Eat Mor Chikin)Bicapitalization  (also known as  CamelCase, embedded caps, InterCaps,  and  midcaps): the use of a capital letter in the middle of a word or name- as in iMac or eBayClitic:   a word or part of a word thats structurally dependent on a neighboring word and cant stand on its own (such as the contracted nt in  cant)Diazeugma:  a sentence construction in which a single subject is accompanied by multiple verbs (as in the sentence Reality lives, loves, laughs, cries, shouts, gets angry, bleeds, and dies, sometimes all in the same instant)Dirimens copulatio:  a statement (or a series of statements) that balances one idea with a contrasting idea (as in Ben Franklins counsel not only to say the right thing in the right place, but far more difficult still, to leave unsaid the wrong thing at the tempting moment)Feghoot: an anecdote or short story that concludes with an elaborate pun Grawlix:  the series of typographical symbols (*!#*!) used in cartoons and comic strips to represent swear wordsHaplology:  a sound change involving the loss of a syllable when its next to a phonetically identical (or similar) syllable (such as the pronunciation of  probably  as probly)Hidden verb:  a noun-verb combination used in place of a single, more forceful verb (for example,  Ã¢â‚¬â€¹make an improvement  in place of  improve)  Malaphor:  a blend of two aphorisms, idioms, or clichà ©s (as in Thats the way the cookie bounces)Metanoia:  the act of self-correction in speech or writing (or to put that a better way, self-editing)Miranym:  a word thats midway in meaning between two opposite extremes (like the word translucent, which falls between transparent and opaque)Moses illusion:  the phenomenon whereby readers or listeners fail to recognize an inaccuracy in a textMountweazel:  a bogus entry deliberately inserted in a reference work as a safeguard ag ainst copyright infringementNegative-positive restatement:  a method of achieving emphasis by stating an idea twice, first in negative terms and then in positive terms (as when John Cleese said, Its not pining, its passed on. This parrot is no more!) Paralepsis:  the rhetorical strategy of emphasizing a point by  seeming  to pass over it (as when Dr. House remarked, I dont want to say anything bad about another doctor, especially one whos a useless drunk)Paraprosdokian:  an unexpected shift in meaning (often for comic effect) at the end of a sentence, stanza, or short passagePhrop:  a phrase (such as I dont like to boast . . .) that often means the opposite of what it saysPoliteness strategies:  speech acts that express concern for others and minimize threats to self-esteem in particular social contexts (for instance, Would you mind stepping aside?)Pseudoword:  a fake word- that is, a string of letters that resembles a real word (such as  cigbet  or  snepd) but doesnt actually exist in the language  RAS syndrome:  the redundant use of a word thats already included in an acronym or initialism (for example, PIN number)Restaurantese:   the specialized language (or jargon) used by restaurant employees and on menus (such as any item described as farm-fresh, succulent, or artisanal) Rhyming compound:  a compound word that contains rhyming elements, like fuddy duddy, pooper-scooper, and  voodooSluicing:  a type of ellipsis in which an interrogative element is understood as a complete question (as in My folks were fighting last week, but  I dont know what about)Word word:  a word or name thats repeated to distinguish it from a seemingly  identical word or name (Oh, youre talking about  grass  grass)

20 Analytical Essay Topics Top Ideas from Cost #038; Management Accounting Reporting System Niche

20 Analytical Essay Topics Top Ideas from Cost #038; Management Accounting Reporting System Niche If you are looking for some example topics to write your analytical essay on cost and management accounting reporting systems, consider these twenty great topics below: The Layout of Primary Accounting Statements Including Balance Sheet and Profit and Loss Sheets: Why They Are Necessary The Link between Primary Statements and Trial Balance Reasons Why Adjustments Are Made Including Bad Debt, Depreciation, Accruals, and Prepayments The Difference between Partnership Businesses, Sole Traders, and Limited Companies The Need for Accounting Principles Which Allow for Reliability, Comparability, Relevance, and Understanding in Accounting Details How Various Accounting Concepts Relate to Aspects of Accounting Management The Lifecycle for Fixed Assets from Their Acquisition to Their Disposal, as well as the Depreciation therein Treatment for Revenue and Capital Expenditure as well ws the Differences between Them The Advantages and Disadvantages of Share and Loan Capital The Components to Share Capital and How to Make Accounting Entries for Returns on Capital How to Dissect Financial Statements and Reach Conclusions about the Financial Situation of an Individual Organization How Accounting Ratios React to Different Transactions Why Business Relies upon Accounting Budgets How to Prepare Cash Budgets While Appreciating Business Benefits and Limitations within the Company Forecast Why Rising Finance is Imperative to Business Success and How Businesses Raise Finance How to Recalculate Goodwill for the Retirement and Admission of New Partners How Tools Can Be Used by Accounting Management to Identify Missing Figures How to Prepare Balance Sheets and Trading Profit and Loss Based on Incomplete Business Records How Accounts for Partnerships Differ between Sole Traders, Partnerships, and Limited Companies How to Remove Partners and Add New Partners to Accounts Analytical Essay Sample: The Layout of Primary Accounting Statements Including Balance Sheet and Profit and Loss Sheets: Why They Are Necessary Financial statements are the key to business. Every business entity has to deal with financial reports which are the core area to notice. Annual accounts are the most common ones. However, meeting of shareholders takes place quarterly, which decides about the financial statements. Management has to set themselves a pattern according to which they should prepare financial statements. Yearly accounts are suited to most of the companies. However, this is not a set rule. There is an option of preparing quarterly of semi-annually accounts as well. A company has to have a formula which they should apply regarding preparation of financial accounts. Accounting standards are without a doubt a key to look into. SECP has provided many guidelines that must be adhered to. Certain laws and provisions must also be provided for while preparing financial reports. Some of the key financial statements covered include the balance sheet, the income statement, the statement of retained earnings and the statement of cash flows. There are two types of layout for a balance sheet. A vertical as well as horizontal layout can be considered. Both approaches to the layout are acceptable, and a company can go for one according to their conventional mode of work. The income statement shows the income generated in the period plus the expenses that were paid for. It gives an exact view of the income present with the company or the entity at the end of the period. Accrual basis of accounting has to be applied in which income is to be recognized in income statement when it is received, and expenses are accounted for when they are incurred, not when they are actually paid for. This way a comprehensive income and expenditure statement are prepared.   Net profit or loss is shown at the end. If income were greater than expenses, then there would be a net profit, and if expenses were bigger, then there would be a net loss to be recognized in the income statement. There are two methods of preparation of income statement being used alternatively.  Single-step and multi-step income statements are the two options. You can follow any one of the mentioned approaches for the preparation of the income statement. Income statement relates to a certain period of activity. Retained earnings are affected by profits with the company. Any payments from the profits such as dividends would decrease the balance of retained earnings, and vice versa. Net loss of the company will have a negative impact on retained earnings and profits and will add to the account of retained earnings. At the end, the final figure is calculated by means of addition and deletion of amounts. The statement of retained earnings provide for changes in the retained earnings from period to period. Consolidated financial statements are also prepared which depicts the events that are to occur over a period of time in the future. The statement of shareholder’s equity is another name for the statement of retained earnings. This statement helps the investors and creditors to conclude about the financial position of the entity. A balance sheet as previously discussed also revolves around the accounting equation. Assets are always equal to liabilities+ owner’s equity. The recognition of the asset or a liability in the financial statements is vital. Fair value recognition is the best method to present a true and fair view of the financial transactions. The statement of cash flows provides an insight about the inflows and outflows of the business. Such inflow or outflow is in monetary value and you can have an idea of what amount of cash has gone out of business, and how much cash business has received for a given period. There are three sections of the statements of cash flows, and you must prepare a statement of cash flow accordingly. 1) operating activities, 2) investing activities and 3) financing activities. The order should be the same as mentioned. You can come across net cash received or paid out on operating, investing and financing activities. At the end, you can sum up all three activities to come up with total cash paid in or out for the given period. Non-cash items are accounted for to come to a genuine and realistic amount of cash in or out for a given period. For example, dividends are cash paid out, but these are not expenses to the business. Such accounting is done in case of the statement of cash flows to come acro ss real cash in or out for the period. References Atkinson, Anthony A.  Management Accounting. Upper Saddle River, N.J.: Prentice Hall, 1997. Print. Atrill, Peter, and E. J McLaney.  Financial Accounting For Decision Makers. Harlow, England: Pearson Education, 2013. Print. Atrill, Peter, E. J McLaney, and Peter Atrill.  Management Accounting For Decision Makers. New York: Prentice Hall/Financial Times, 2005. Print. Datar, S. M., Rajan, M. V., Horngren, C. T. (2013).  Managerial Accounting: Decision Making and Motivating Performance. Pearson Higher Ed. Drury, Colin.  Management And Cost Accounting. London: Chapman Hall, 1992. Print. Hansen, Don R, and Maryanne M Mowen.  Cost Management. Mason, Ohio: Thomson/South-Western, 2003. Print. Horngren, Charles T.  Management And Cost Accounting. London: Prentice Hall Europe, 1999. Print.

How do employment relationships impact on the overall success of an Essay

How do employment relationships impact on the overall success of an organisation - Essay Example Although it might be argued that the employer is the source of all the funds which makes the firm operational, the firm is still, by and large, operated by the employee. The increase in international competition and the rapid technological advances are favoring organizations which are more efficient, innovative and productive. These external factors are forcing firms to alter their administrative and management structures. The intensified pressures have generated major challenges in managing employment relationship (Noer, 1993; Herriot, Manning and Kidd, 1997). The basic principle behind the concern for this field is the ‘friendlier’ and ‘more responsive’ the employee governance system is, the greater will be the probability of employees being actively engaged in their work. The idea stems from the notion that, as you build trust and friendship with and among the employees, the employee will reciprocate the effort thru his work. In this paper, we will be exploring whether there is truth in this claim. Employees joining an organization are usually characterized by enthusiasm, commitment and advocacy for their new employer partly because of the thought of receiving a salary and partly due to the pride of belonging to an organization and doing something productive. Suffice it to say, at the start of employment, they are highly engaged. When we say highly engaged, we mean that they are actively participating in the organization. 2. Not-engaged employees are those who have essentially become disinterested with their work. They spend time but not energy and passion into their work. They are not necessarily negative or positive about their company but they take a wait-and-see attitude toward their job, their employer, and their co-workers. The commitment is simply not there anymore. Many empirical studies have demonstrated a relationship between

Novartis Environmental Analysis Case Study Example | Topics and Well Written Essays - 1000 words

Novartis Environmental Analysis - Case Study Example In order for Novartis to achieve excellence in its international markets, it has employed technology to foster innovation in drug manufacturing and promotion. As a result, the company has been able to adapt effectively to the technological environment for excellence and effectiveness in achieving its goals and objectives in the market. International Factors Since Novartis’ pharmaceutical business is internationalized, global or international factors have a significant impact on its operations (Pharmawatch 15). This includes the forces of globalization which has made international companies to comply with the changes in international markets. In this regard, it is reflective that the developments and changes in the pharmaceutical businesses across the world have an influence on the operations of the company. As a result of the international factors, Novartis has been able to form mergers with international companies (Novartis AG 154). In addition, the international forces in th e labor market have an impact on the recruitment and employee retention practices of the company. Political Factor Political risk is related to all forms of international business. This is due to the political forces which are likely to have an impact on the operations of a company in its international market. For example, changes in governments would have a negative or positive impact on the business activities and success in a specific market and economy. Because of the inevitable political forces, Novartis has engaged in political risk assessment in the international markets and economies in which it intends to venture into (Global Pharmaceuticals 129). The assessment of political risk is aimed at allowing the company to be able to determine the possible changes in the political environment which are likely to lead to negative implications on its business activities (Andreas 1). Through this assessment, accurate and informed strategic decisions are made in the company’s in ternationalization program for its pharmaceutical business (PR Newswire 1). Social Factors The social environments which comprise of the culture, religion, beliefs and practices of a society significantly affect the success of an international company within a specific market (Fair Disclosure Wire 1). The pharmaceutical business in characterized by inevitable implication from the social environment which includes the beliefs of a society on the use of conventional drugs as opposed to the religious traditional approaches to healing (Novartis AG SWOT Analysis 7). It is in this sense that it is evident that the success of Novartis in various drug markets across the world depends on the social factors. It is therefore reflective that Novartis employs socially, culturally and religiously acceptable forms and strategies of marketing communication for its drugs so that it would conform to the values and beliefs of the society within which it operates its business (Datamonitor 5). Ecologica l Factors There are ecological risks which internationalized pharmaceutical companies face in their operations. These include possible eco-toxicity and degradation of forests in the extraction of raw materials for the production of the environment (Franchini 6). Novartis has therefore employed chemical analysis processes to ensure that its products are not harmful to the environment in which it operat

Airline Industry Dissertation Example | Topics and Well Written Essays - 3000 words

Airline Industry - Dissertation Example Cost of ASK (Available Seat Kilometres) An available seat kilometre in airlines is calculated by multiplying the total number of seats offered by an airline and the total distance flown by an airline (British Airways-a, 2010). The Available seat kilometres for British Airways was found to be 141178 in 2010 which represents a decline from its previous year figures of 148504 in 2009 (British Airways, 2010, p.128). The statistics for its competitors Emirates airlines states the corresponding figures at 161756 which represent a rise from its figures last year that was quoted at 134180 (Emirates Airlines, 2010, p.4). The low value of ASK for British Airways can be largely held accountable to the financial downturn which put a pressure on the profit and revenue margins of the firm. Emirates airlines owning to better fleet management and route optimisation generated a much better performance than its competitor British Airways. Revenue per RPK (Revenue Passenger Kilometres) Revenue passenge r kilometres (RPK) is calculated by multiplying the total number of revenue based passengers and the total air miles flown by the airline (British Airways-a, 2010). A good value of this statistic represents a healthy operational and financial aspect of the organization. The value of RPK for British Airways in 2010 was calculated at 110851 which represent a decline from its figures in the last year which was stated at 114346 in 2009 (British Airways, 2010, p.128). The slump in figures can be attributed to decline in the revenues per passenger as well as reduction in the total air miles flown due to route optimisation owning to pressures from the economic recession. The figures for Emirates airlines however show a distinct and definite opposite trend which is pegged at 126273 representing an improvement from its previous year’s figures of 101762 (Emirates Airlines, 2010, p.123). BELF (Break Even Load Factor) Break Even Load Factor or BELF is a value term expressed in percentage that represents a scenario in which revenues and operating costs become equal. This factor has different values for different flights and includes aspects like seasonal fluctuations and is largely based on the dynamics of demand and supply in the market (Radnoti, 2002, p.99). The Break Even Load Factor for British Airways was found to be 78.5 percent which represents a rise by about 1.5 percent from its figures in the last year. This was mainly reported due to a reduction in revenue from passengers by about 10.9 percent from the previous year (British Airways, 2010, p.16). The Break Even Load Factor for its competitor Emirates Airlines was found to be 64.4 percent which again represents a rise by about 0.3 percent from its corresponding figure quoted last year (Emirates Airlines, 2010, p.123). The major reason for this trend is accountable to the large scale dip in demand for air travel by business as well as individual passengers which was due to the reduction of disposable income and decline in profit margins of the other business travellers. The advent of low cost airlines has also led to a reduction in the

The Presence of Horror and Fear in ‘the Monkey’s Paw’ Story Essay Example for Free

The Presence of Horror and Fear in ‘the Monkey’s Paw’ Story Essay This essay is an analysis of ‘The Monkey’s Paw’, a horror short story by William Wymark Jacobs. This story is about a talisman that shapes like monkey’s paw which has magical powers. It grants three wishes to its owner. It’s given to one family, husband, wife, and their son. They wish for some money, and that wish also become true, they get the money, the exact amount they wished for. But actually that money was the compensation for the death of their son that caused by the accident. Torturing by the sadness of the dead of her only son, the wife wishes for her son back to life again. When knocking is heard at the door, the husband feels scared about what will happened. And before the wife can opened the door, the husband used the last wish. The knocking stop and when the wife opened the door, no one is there. The essay will be focused on how the speaker brings the horror and fear in this story. There are many ways how the horror and fear is delivered in this story, but this essay will only take and explain three of them. The first thing that brings horror and fear is the background of the Sergeant-Major Morris as the previous owner of the talisman, how he could get that talisman. The reader can feels that the talisman has a mysterious background from how the Sergeant-Major feels uncomfortable when telling about the talisman. â€Å"The soldier regarded him the way that middle age is wont to regard presumptious youth. †I have,† he said quietly, and his blotchy face whitened. † It can be seen that the Major seems too quiet and too afraid for the man that wants to tell the story about the talisman that can granted wishes. Second, the horror and fear come up to the climax through the action or response the husband and wife after the death of their son. The fight between the husband and the wife about the wish to revive their only son also bring the reader feels the horror and fear. â€Å"The old man turned and regarded her, and his voice shook. â€Å"He has been dead ten days, and besides he – I would not tell you else, but – I could only recognize him by his clothing. If he was terrible for you to see then, how now? †Ã¢â‚¬  it brings the readers get the imagination how scary in looks if the son come back to life. The last thing that is, how the narration also supports to create a horror and fear atmosphere in the story. The best example can be seen from the last event. But her husband was on his hand s and knees groping wildly on the floor in search of the paw. If only he could find it before the thing outside got in. A perfect fusillade of knocks reverberated through the house, and he heard the scraping of a chair as his wife put it down in the passage against the door. He heard the creaking of the bolt as it came slowly back, and at the same moment he found the monkey’s paw, and frantically breathed his third and last wish. † The narrations which explain about the setting, the situation and condition also take an important role to raise the tension of fear in this short story. In sum, there are many ways of how the speaker is delivered the horror and fear of this short story. Three of them are: The background of the Sergeant-Major Morris as the previous owner of the talisman, The action or response from the husband and wife about the wish to revive their son, How the narration explain the setting, situation, and condition in this story with a ‘spooky’ ways. There are still many others ways how the speaker brings the horror and fear in this story that make this story become a good horror story.

Supplier Relationship Management

Supplier Relationship Management An important feature of a world class organisation is the way the organisation has been able to develop and link its suppliers with its external processes, Peter Hines, World Class Suppliers, (Pitman, 1994). Supplier relationship management can be defined as the relationship that exists between the supplier and its buyer based on long term commitments and trust with the ultimate aim to maximise the potential value of the relationship. This will include the management of different forms of supply relationships such as partnership, joint venture and vertical integration. 1.2 Importance of Supply Relationship Management The critical importance of supplier relationship types to achieve supply chain competitiveness can be viewed under the following headings: The effective use of strategic partnership Typical traditional short term relationship is characterise by irregular or one-off transactions that give rise to supply uncertainties, difficulties in choosing suppliers, and is price oriented making this type of relationship unreliable and unsupported. Organisations can move from this type of relationship towards a long term relationship known as partnership based on trust, shared goals and risks to achieve mutual benefits. Nigel Slack, Stuart Chambers and Robert Johnston, Operations Management, (Pearson, 2010), define partnership as an agreement between two firms that seek to accomplish a common objective. The Japanese, James P Womack et al, the Machine That Changed the World, (Macmillan, 1990) , used the concept of partnership and lean to gain competitive advantage because they realised their partners had the expertise, the technical knowledge and were reliable. Effective partnership with suppliers made them to compete favourably in the market because of good product quality, lo w cost and reliable delivery. Therefore, firms can use this same method to rationalise their supply base and use the lean concept to produce efficiently which will lead to reduce product lead times, reduce inventory and inventory cost. The implementation of new management tools and systems A key element of supply relationship management that gives firms competitive advantage is the implementation of the lean concept of monitoring supplier performance and continuous improvement. Monitoring performance is a post-contractual procedure in which the buyer continuously keeps an eye on the supplier by either managing the suppliers activities to make sure all commitments are met or using a measurement matrix such as key performance index (KPI) to compare supplier progress and divergence from targeted objective. The overall competitive advantage is an operation that is continuously improved in terms of quality, delivery and service. In 1989, Chrysler benching against the Japanese companies, initiated the Supplier Cost Reduction Effort (SCORE) program aimed to reduce cost, quality and monitor supplier performance; Dawei Lu et al, Supply Chain Management module notes (WMG, University of Warwick, 2011). The integration of knowledge and technology to create an all new technology Integration with supplier is all about coordination. Here, the buyer and supplier come together to align their processes thus improving communication and supply chain visibility for both parties. When firms integrate their knowledge and technology they are able to meet the needs of end customers by getting the right product at the right price and quality, giving them a competitive edge. This strategy was used by Bose Corporation 1990 that led to the extension and creation of the JIT2 concept, a logical extension of JIT that eliminates waste in the system, improves communication and reduces demand variability. Efficient consumer response (ECR) to demand variability caused by the forester effect. Firms are always seeking solutions for continuous demand variation and consumer requirements. Through effective supplier and buyer collaboration, firms will be able to achieve competitive advantage by efficiently managing their supplier relationship to meet the needs of the end consumer creating a fluid inventory flow from suppliers to the consumers reducing lead times, demand variability and uncertainty. This has led to initiatives such as Radio Frequency Identification Device (RFID), a tracking technology that provides real time information and location of goods. Tesco, UKs largest grocery retailer has exploited this technology strategy and is piloting pallet-level RFID to manage its logistics; Christos Tsinopoulos and Carlos Mena, Competing Supply Chain Strategy: Tesco, Aldi and Lidl, (ECCH, 2010). Increase competition amongst firms to secure and increase domestic and international market share. Domestic and international market pressures are just other facets that have pushed firms to collaborate and develop strategic partnership with suppliers to gain competitive edge. Using this approach, firms use both local and international suppliers to broaden their sourcing base, reduce product lead time, and stream line cost through cheaper, global and local sourcing alternatives. The benefits are quick response to demand variation and high availability of variety of products at reasonable price and quality. This in turn attracts a greater amount of customers and increase market share. This is a strategy which IKEA, a Swedish international furniture company has successfully used to provide quality products at reasonable price and secure a large market share both domestically and internationally. 1.3 Relationship Management Framework 1.3.1 Introduction A relationship defines an interaction between individuals, organisations and groups; Kenneth Lysons and Michael Gillingham, Purchasing and Supply Chain Management (Prentice Hall, 2003). There are many possible supply chain relationship types because very few companies can operate on their own. These relationships can be categorized as business-to-business (B2B), business-to-consumers (B2C), consumers-to-business (C2B) and customers-to-customers (C2C). B2B relationships are most common and have been used in many approaches and models such as IMP, SCOR, HP, GSCF, Service supply chain and IUE-SSE to help explain supplier-customer interaction. 1.3.2 Industrial Marketing and Purchasing (IMP) interaction Approach The IMP interaction approach is a dynamic model of supplier-customer relationship developed in the mid 1970s by a group of five European countries and universities; IMP Group.[online].(http://www.impgroup.org/about).(Accessed 06 Feb 2011). Based on investigations of about 900 business relationships, the IMP group developed a model of an interaction process at both the firm and individual levels creating a dynamic, complex and long standing relationship rather than one based on a short term stable relationship; Bensaou M (1999), Portfolios of Buyer-Supplier Relationships, Sloan Management Review, Vol. 40, 35-45. This relationship is influenced by soft factors such as power, cooperation, closeness and expectations as well as external environmental factors such as market structures, dynamism, internationalisation and position in the market. The IMP Group approach and model provide a good overview of buyer-supplier relationships and have formed the basis of other frameworks like David T. Wilson, (1995) Integrated model of Buyer-Supplier relationships, Journal of the Academy of Marketing Science , Vol. 23, 335-345. 1.3.3 Supply Chain Frameworks Customer-supplier relationship management models and frameworks can also be viewed within the context of the different types of supply chain models that exhibit customer-supplier relationship management. This will include a variety of supply chain models which address customer-supplier relationships such as HP, SCOR, GSCF, and IUE-SSC model. These models identify customer-supplier relationships by adopting two differing views; product and service supply chain view. Product oriented models adopt a manufacturing approach that involves the physical movement of goods under uncertainties managed to satisfy customer demands and include the HP, SCOR and GSCF models. The Hewlett Packard (HP) model was developed by the Hewlett Packard Company as a result of spiral inventory and customer dissatisfaction the company was facing with its order fulfillment process. Lee, H. and C. Billington, (1995), The Evolution of Supply-Chain Management Models and Practice at Hewlett-Packard, Business Source Premiere, Vol. 25, 42-63, used this model to demonstrate how suppliers, manufacturers and customers are linked in the flow of goods with multiple warehouses providing inventory at each stage to buffer demand. The Supply Chain Operations Reference (SCOR) model is a highly structured and broad model developed by the Supply Chain Council to measure total supply chain performance; Supply Chain Council. [Online].(http://supply-chain.org/f/SCOR%2090%20Overview%20Booklet.pdf ) (Accessed 06 Feb 2011). The SCOR model adopts a process manufacturing viewpoint and identifies supplier- customer relationships by breaking down the supply chain into links, each link made up of processes representing supplier-customer relationships. These relationships are then benchmarked using Key Performance Indicators (KPI) to assess the success within the supply chain. This model, although it improves customer satisfaction through improved supplier-customer relationships, it does not attempt to describe some elements of post delivery customer support, a critical feature of supplier-customer relationship management. The Global Supply Chain Forum (GSCF) is yet another supply chain framework that adopts the process manufacturing approach and identifies supplier relationship management as one of its eight key business processes of product flow. Croxton L. Keely et al, (2001), the Supply Chain Management Processes, International Journal of Logistics Management, Vol. 12, 13-24, depicts this model as an end-to-end process where each process is linked and managed to interface with key customers and suppliers. This creates eight business processes among which is customer-supplier relationship management to allow the smooth flow of product within the supply chain. 1.3.4 Service Supply Models The above three models define supply chains purely from a traditional perspective of product flow. However, with the growing importance of services and service industry, Ellram et al, (2004), Understanding and Managing Service Supply Chain, The Journal of Supply Chain Management, Vol. 40, 17-32, adapted this manufacturing approach into a new line of service thinking that uses service capacity and delivery, instead of products to classify supply chains as the key processes. This service supply model captures customer-supplier relationship via an end-to-end supplier and customer process that include capacity and demand management, cash flows and service delivery management, and just like manufacturing supply chain, customer relationship management. This is a very good approach that identifies relationship management but limited in that services are intangible and this makes them difficult to visualise and measure. A follow up to the service supply chain viewpoint is the work of Baltacioglu et al (2007), A New Framework for Service Supply Chains, Service Industries Journal, Vol. 27, 105-124, who proposed the IUE-SSC model. IUE-SSC model represents the initials of the affiliated organisation of the authors and Service Supply Chain Model. This model identifies customer-supplier relationships by breaking down supply chain into three basic parts: the supplier, the service provider and the customer. Here, the service supplied by the supplier constitutes a core and supporting service and just like the service supply chain model by Ellram et al, this model identifies a number of activities that includes some customer-supplier relationship management essential to the service supply chain. Relationship types are diverse and could either be of business type such as B2B or consumer type such as C2C. In my thinking the popularity of B2B and the historical context of consumer-supplier behaviour pushed the above mentioned authors to focus exclusively on B2B relationships in explaining customer-supplier behaviours in the models they proposed. But the general shift in consumer behaviour and the impact of globalisation and information technology should trigger a move to contemporary models of consumer-supplier relationships in business-to-consumer, consumer-to-business or consumer-to-consumer. I therefore think that the modern business world would appreciate models build around E-commerce type relationships and a move from product or service approach models that explains consumer-supplier relationship management. 1.4 Relationship Portfolio and Management Approach Conventional thinking suggests that relationships tend to vary with companies and there is no fit for all purpose relationship. A logical step after organisations are able to identify the various types of relationships is to focus on the relationship portfolio they want to build with their suppliers and to effectively manage this relationship for competitiveness. A number of methods and approaches have been adopted ranging from the various types of relationships to more analytic models such as Kraljics Purchasing/supply portfolio-analysis and the power regime. Firms have adopted different approaches to tailor the different types of relationships to fit their particular products, service or markets. These relationships tend to follow a pattern from a short term traditional arms length relationship to a new form of close and long term relationship known as partnership or vertical integration; Alan Harrison and Remko van Hoek, Logistics Management and Strategy, (Pearson, 2008). Others have viewed this trend as a continuum and included additional types such as strategic alliance and joint ventures. Depending on its strategy, a firm might adopt a range of style such as develop strategic partners by rationalising its supply base and dealing only with a few suppliers, a popular approach most firms are now adopting. It might also adopt a variety of relationships style depending on the markets and the products. The Kraljics model analyses the purchasing portfolio of a firms product into high and low supply risk and supply impact on the financial results. The end result is the segregation of products as: strategic, leverage, routine and bottlenecks as shown below; High Low Fig 1: Kraljics model Leverage products Alternate source of supply available Substitution possible Competitive bidding Strategic products Critical for products cost price Dependence on supplier Performance based partnership Routine products Large product variety High logistics complexity Labour intensive System contracting E-commerce solutions Bottleneck products Monopolistic market Large entry barriers Secure supply and search for alternatives Low Supply Risk High Source: Dawei Lu et al, Supply Chain Management module notes (WMG, University of Warwick, 2011). Using this method, management can therefore spend time and develop performance based relationships such as partnership on those suppliers whose products matter most, for example, strategic products and outsource non critical or leverage products. Bensaou M (1999), Portfolios of Buyer-Supplier Relationships, Sloan Management Review, Vol. 40, pp. 35-45 adopted a similar approach based on product and market conditions to create a supplier portfolio of our different relationship profiles; captive buyer, strategic partnership, market exchange and captive supplier. To effectively manage the relationships such as the Captive buyer and Market exchange, Bensaou suggested the use of management practices such as treating each other with respect and fair profit sharing and for strategic partners to regularly exchange information or pay frequent visit creating a social climate that is trusting and collaborative. The ABC analysis method is another commonly used technique by businesses to segment supplier relationship portfolio. Wagner S. and Johnson J. L., Configuring and Managing Strategic Supplier Portfolios, Industrial Marketing Management, Vol. 33, 717-730 adopted this approach using a wide range of factors such as volume, suppliers performance, supplier strategic importance, price and quality to segregate suppliers into category (Cat) A, B and C. Cat A suppliers where suppliers that supplied a total 80% volume, while Cat B supplied 15% and finally Cat C, 5%. Very little time is spent on managing and developing Cat C supplier because of their limited volume. In most cases they are used by the company as a way to reduce cost by either direct sourcing or via e-procurement. On the other hand, Cat A suppliers should be considered imperative by top management and a close relationship or partnership should be developed. This relationship can be monitored through regular and annual meetings with suppliers as well as creating an award for suppliers to maintain motivation. In addition, the buyer can invest on supplier development by either assisting or sponsoring supplier to improve performance. Another approach is that by Andrew Cox et al (2004), Managing Appropriately in Power Regimes: Relationship and Performance Management in 12 Supply Chain Cases, Supply Chain Management, an International Journal, vol. 9, 357 371, that correlates the findings of relationships and performance management strategies in power regimes. In a power regime, a business can decide on the appropriate relationship and relationship management style(s) depending on their power condition, as shown on the fig 3. Therefore, in a business deal where the buyer is dominant or has an interdependence power position, it will be better to choose a relationship approach based on supplier development. Conversely, in a supplier power regime relative to supplier dominance and/or interdependence then the option is for a supply chain management approach to be adopted. A change in the power structure in this technique will lead to a change in the relationship portfolio and this will lead to improve performance outco mes especially when either parties change their behaviour. 2.0 STRATEGIC OUTSOURCING A significant decision facing most businesses today and which have a long term impact on the firm is whether to produce internally (insourcing) or use an outside supplier (outsourcing); Robert Monczka, Robert Trent, and Robert Handfield, Purchasing and Supply Chain Management, (Thomson, 2005). 2.1 Outsourcing and Supply Network Design Outsourcing, sometimes referred to as make-or-buy, is a strategy by which an organisations management decides to hand over its non-core activities to a specialised third party that can efficiently provide the service; Kenneth Lysons and Michael Gillingham, Purchasing and Supply Chain Management, (Prentice Hall, 2003). Therefore, central to outsourcing is the make or buy decisions and the relationship that is formed between the purchaser and the supplier. The make or buy decision arises because organisations have come to the realisation that they cannot produce or make everything on their own and can effectively spend more time on core competence while non core competence could be outsourced. This decision to outsource or make or buy is a strategic one that will create a new supply network of suppliers and sometimes suppliers suppliers. In this new supply network, the organisation will need to adjust its operation in line with its new suppliers and, where possible, its suppliers suppliers creating a total supply network; Nigel Slack, Stuart Chambers and Robert Johnston, Operations Management, (Pearson, 2010). This strategic decision to outsource brings a whole new chapter within the organisation and will prompt a key design decision; how to configure the new network and how much of the network should be retained by the organisation. This will help management to decide on how it intends to influence and manage the overall new structure . 2.2 Outsourcing Decision Process and Influencing Factors Traditionally, the main outsourcing decision process focused on cost reduction. However, the importance of outsourcing decision to an organisation competitive position has pushed many organisations to consider a number of other factors. The decision process adopted here is one adapted from Robert Monczka, Robert Trent, and Robert Handfield, Purchasing and Supply Chain Management, (Thomson, 2005). 2.2.1 Planning phase The initial process in undertaking any outsourcing motive is to initiate a project of a cross functional team and define its scope and objectives. The team should identify activities to be outsourced and present to management for acceptance. Explore the Strategic Implications phase Strategic implications will mean aligning the outsourcing decision with three main factors: The companys long term plans and its impact on other activities and functions. This means if the activity that is being outsourced should disrupt the companys future plan or affects other functions, it is better off being insource. Furthermore, the decision should be in line with an understanding of the organisations core competence. If outsourced activity is not perceived as being core capabilities, the firm might decide to outsource. Analysis of the impact of process technological and how it compares to its competitors for competitive advantage. If analysis shows minimal competitive advantage then the organisation can decide to outsource but in cases where in house process technology provides competitive advantage, the organisation could reconsider to insource. 2.2.3 Tactical implications phase Tactical decision process will consider the following factors, and the ability to test prospective outsourcing initiative. Alternatives to outsourcing: Being tactical is crucial in outsourcing because the final decision to outsource can be very expensive for the organisation. Therefore, before making that final decision, the organisation could reconsider alternatives to outsourcing such as producing in-house, subcontracting or vertical integration. The length of contract: Outsourcing decision could mean being tied down in a long term contract which could impact on other strategic objectives. Impact of size: Also the size of the outsourcing activity can impact on the decision process as management can decide on other options if the activity to outsource is too large and can have adverse effect on core activities. Corporate culture: The impact on corporate culture is another key tactical factor that should be considered on outsourced activity to organisation. This means considering employees feelings regarding the activity to be outsourced. 2.2.4 Cost analysis phase Critical to any outsourcing decision process is its ability to be cost-effective at a quality level competitive in the marketplace. An accurate cost-effective calculation looks beyond the initial and obvious costs and is based on a marginal costing principle; a cumulative costing concept including total variable cost, total fixed cost and operating costs. Other costs will include the opportunity cost which is the potential benefits forgone if the activity being outsourced is done in house. Implementation phase The implementation process will be driven by effective service provider selection and managing post-contractual relationship. Because outsourcing usually involves a long term contract and high investment, selecting the correct service provider is imperative. The selection process will include; Market research: This involves carrying out a thorough market research to determine market price and terms of conditions, and identifying potential service providers with the right expertise, capacity and similarity in corporate culture. Develop a tender request. The tender request should provide in detail the outsourcing requirements as well as general information about the organisation including the scope and the objectives of outsourcing. This document will form a good guide to potential service providers. Conduct site visit. After tenders have been submitted, a site visit to potential service provider will aim to compare reality to what is on paper. It will be an opportunity to look at the corporate culture, its processes, the people, and how they can fit in to the outsourcing organisation. Negotiate. Negotiation will aim to find a common ground for a win-win situation. Central to this will be: quality of service and the performance level, scope for improvement and change, pricing and management style including assimilation of employees. The implementation process is not complete without any form of decision to manage post-contractual relationship which is very important to the sustainability of the whole outsourcing process. The key factor is to develop a key performance indicator (KPI) to continuously measure and monitor performance of service provider so that service quality is maintained and relationship continuously improved. In conclusion, the decision to outsource by a firm is a crucial and strategic one because it affects a greater part of the firm and it can be used as a competitive tool. Traditionally, this decision was based simply on cost and benefits but as discussed above, the decision process is now influenced by many factors and departments. Therefore, for an outsourcing decision process to be effective and efficient, a cross functional team should be selected to be part of the whole process. Implementation Problems Shawn McCray (2008). [Online].(http://www.tpi.net/pdf/papers/Top_10_Problems-with_Outsourcing.pdf).(Accessed 23 February 2011), identifies poor change management and governance as key issues in implementing outsourcing. Some of the problems related to implementation are: Post-contract processes poorly written: This occurs because both parties after signing the contract do not want to work together. The root problem being mutual misunderstanding of contract and the scope of outsourced activities resulting to services not performed and increase frustration amongst staff. Cultural clash: Cultural clash, corporate or international, can tend to produce tension, distrust and misunderstanding. This is problematic especially in a situation of offshoring where communication is limited to email or phones. This will be further compounded in difference in work ethics which if not streamlined will create added tension. Quality of service: A main reason management decides to outsource is to improve the quality of service. Where service provider is unable to achieve this, the whole outsourcing process becomes questionable and creates problems surrounding contractual performance and implementation. Lack of Coordination: Coordination and the lack of a coordinating team present an implementation problem. This is because as soon as the contract is signed, the client quickly shifts all responsibilities to the service provider who is still trying to get started and there is no team in place to coordinate activities. This will lead to a slow start, confusion within the system and poor quality service provided. Loss of talents: Outsourcing decision creates lots of uncertainties which will push some talented employees to look for jobs elsewhere. Moreover, some of these employees may feel de-motivated working for a new service provider. The loss of talent and unsatisfactory employees can cause a drop in the quality of service provided. Service provider lacks required skills: Some service providers may lack the necessary skill and may be depending on hiring new staffs and/or train existing ones. If this process takes too long as in a client retained organisation, service provider may be unable to produce contractual results thus affecting operational implementation. Cost of service: The cost of providing the outsourcing service might actually tend to be high because cost estimations were not properly carried out and certain activities not taken into consideration. Other costs and barriers to operational implementation will be that service provider is unable to deal with the volume of activities, as well as find it difficult to handle and maintain client equipment and facilities. 2.4 Key Benefits and Potential Outsourcing Risks Kenneth Lysons and Michael Gillingham, Purchasing and Supply Chain Management (Prentice Hall, 2003), explain that the main benefit associated with outsourcing is that it gives management the necessary time to concentrate on the core business operations. The Outsourcing.Institute.[online].(http://www.outsourcing.com/content.asp?page=01b/articles/intelligence/oi_top_ten_survey.htmlHYPERLINK http://www.outsourcing.com/content.asp?page=01b/articles/intelligence/oi_top_ten_survey.htmlnonav=trueHYPERLINK http://www.outsourcing.com/content.asp?page=01b/articles/intelligence/oi_top_ten_survey.htmlnonav=truenonav=true).(Accessed 23 February 2011) in a survey highlighted some other important outsourcing benefits; Outsourcing of non-core activities to a world class provider encourages reengineering and its associated benefits on improvements in performance in terms of cost, quality, service and speed. Outsourcing can be used by management to reduce huge capital investment on non-core business functions thereby making funds available to areas of the business involved in direct production. Operating cost incurred in outsourced activity is also reduce as expenses such as marketing and research and development are passed to the service providers. Outsourcing could help an organisation build a new capability from start due to lack of internal resources and expertise required to get this activity start up. Also, risks related with government compliance, late deliveries or technology innovation and failures are either reduced or shared as activity is passed on to the expert service provider. Another major outsourcing risk is making the wrong outsourcing decision on what to outsource and what not to outsource and the need to effectively manage relationships. Any wrong decision will be too costly for the organisation. Outsourcing is a crucial decision for any company and it is recommended that the final decision process accommodate a cross functional team that should critically evaluate both the cost and benefits including the strategic and tactical perspectives of outsourcing. REFERENCING BOOKS Alan Harrison and Remko van Hoek, Logistics Management and Strategy, (Pearson, 2008). James P Womack et al, the Machine That Changed the World, (Macmillan, 1990). Peter Hines, World Class Suppliers, (Pitman, 1994). Kenneth Lysons and Micheal Gillingham, Purchasing and Supply Chain Management (Prentice Hall, 2003). Nigel Slack, Stuart Chambers and Robert Johnston, Operations Management, (Pearson, 2010). Robert Monczka, Robert Trent, and Robert Handfield, Purchasing and Supply Chain Management, (Thomson, 2005). JOURNALS Andrew Cox et al (2004), Managing Appropriately in Power Regimes: Relationship and Performance Management in 12 Supply Chain Cases, Supply Chain Management, an International Journal, vol. 9, 357 371. Bensaou M (1999), Portfolios of Buyer-Supplier Relationships, Sloan Management Review, Vol 40, 35-45. Baltacioglu et