Qantas Airways Limited Group Essay

Introduction: Qantas Airways Limited is an Australian iconic airline group engaged in the operation of international and domestic air transportation services and the provision of freight services (Market Line, 2014). The airline also associates its services with the Jetstar brand, with QantasLink, Jetstar Asia and Jetstar Pacific grouped under the same business (Passport 2013). With a 17.7% market share of international passengers in Australia (Business Monitor, 2011), the company aims to upsurge its global market position through a demanding and reconstructive approach. The company has already accomplished a notable degree of achievement locally and internationally with its significant competitive positioning and strong alliance with Emirates and previously British Airways. Though with increasing global forces bestowing as challenges for the business, Qantas has to adapt to the macro-environmental factors appropriately in turn with their internal marketing mix. Clarke (2006) stresses that in a wo rldwide economical industry, competition is fierce and costs need to be through international eyes, so an arduous analysis of the strategic pillars is needed for the sustainability and improvement of Qantas in the international market. Internal Analysis 1.1 Strategic Alliances For the improvement of global marketing performance for a company such as Qantas, a global outlook on the affiliation between market condition, marketing policies and programs and consumer response needs to be developed systematically (Davidson, 1983). The application of internal factors relating to the strategic approach Qantas has applied has developed in an enhancement of its global branding in the international aviation market. Qantas tactically formed a strategic 10-year alliance with Emirates on 31 March 2013 (Passport 2013), to further strengthen its global service across various regions around the world as well as to improve its system coverage. With its international segment continuing to be loss making (Passport 2013), retaining the international division of market share with Emirates includes a permanent shift in their network of destinations that includes Europe,  Middle East and Africa; which is evidently a geographic advantage for the airline. The relationship deems m ore significant than a fixed agreement, including integrated network collaboration with coordinated pricing, sales as well as a benefit-sharing model (Market line 2013). The partnership also coincides with their loyalty program, standardising the benefits for customers across both airlines in turn expanding their business partners on a global level. 1.2 Competitors: The generated link between market share and competitors is relatively important, as Hazledine (2011) stresses the more competitors there are, the smaller the market share. By forging an alliance with an attractive competitor like Emirates, the company has gained a stronger network in Europe, Middle East and Africa, while gaining a competitive advantage in the international aviation market. However, since the formation of this new strategic alliance, the termination with the previous partnership with British Airways has led to a change in routes and the comprise of its position with Oneworld- an alliance of the world’s leading airlines working as one (Oneworld, 2014) There has been an increase of rivalry by a number of competing airlines targeting Qantas’ lucrative international and domestic routes. Hazledine (2011), discusses that the Australian market is ‘predominately duopolistic’, with about three quarters of the routes are shared between Virgin and the remaining are Qantas’ monopolies. This implication leads to its dominance in the Australasian market being targeted by other leading aviation companies. The bulk of Qantas’ sales are from Australasia (Passport, 2013), though has been increasing interests from competing airlines seeking to capture their share hold of the region. However, with the significant investment of the expansion of Jetstar in the Asian territory, the notion of retaining a stronger consumer base will significantly intensify due to the construction of new routes with a code-sharing agreement signed with China Eastern (Passport, 2013). External analysis: 2.1 Economic conditions In order to sustain their achievement thus far, the ability to capitalise  costs and expand travel options for consumers on a global level leaves Qantas to transform its programme entirely, ‘becoming one of the world’s best premium airlines, setting global standards for long haul travel†¦Ã¢â‚¬  (Mules, 2013). Though with the fluctuating inconsistencies in the global sphere, this economically impacts on the business itself. Before the economic downturn, the business illustrated the competitive pressures from Virgin Australia and various low-cost carriers flying to Australia (IBISWorld, 2014). Its competitors highly influenced the profitability of the company with Virgin Blue successfully capturing the market share from Qantas, highlighting 30% – 40% lower costs than those of Qantas (Oxenbridge et al, 2010). The combination of the Global Financial Crisis (GFC) and the inherent volatility of the aviation industry (Financial Management, 2013), meant that in te rms of economic environment, many were seeking to lower and affordable services. Jetstar, a positioned association of the Qantas brand, centres on minimizing costs through operational efficiencies (Oxenbridge et al, 2010). In recognition to this significant investment of Qantas, there has been an increased focus on Jetstar’s expansion into the Australasian region, by building stronger relationships in the effort to replicate the dominant market share of the domestic market to those in the Australasian region. Revenue evidently increased where it eventually reached the stage providing more than 100% of the Qantas group’s profits in 2009 (Danaher et al, 2011). Jetstar’s performance provides an opportunity to focus on Australian traffic into the Asian continent, as demand for low cost carriers remains high in Asia Pacific (Passport, 2013). Furthermore, the rising oil prices seem to reinstate huge challenges to the economic conditions of a company. They directly impact on the profitability of a business and has always been a major component contributing to cyclical nature of economic activity and the demand for air travel (O’Connell and Williams, 2011). With an 18% bill increase in 2012 (Market line, 2013), it pressurizes on the costs and margin of profitability of the company, which has led to an increase to internal and external costs. 2.2 Sociological factors: Moreover, it is important to recognize the severity of income levels across the heterogeneous market, which may influence sociological issues. The first  issue relates to the cost-cutting strategies which have been implemented by Qantas, including segmenting businesses, instituting pay freezes and the outsourcing of functions (Oxenbridge et al, 2010). According to Oxenbridge (2010), Qantas slashed thousands of jobs with redundancies and attrition in order to save costs and switch to lower cost providers. Due to this predicament this has led to shifting operations and agreements offshore, basing their tasks in Dubai ultimately resulting to the significant number of job cuts associated with the employment of the 5-year transformation programme (Mules, 2013). As profit margins are expected to increase with pressure, this has been an increasing implication for the company who are still establishing aggressive policies, which is ultimately affecting the suppliers and workers of the business. Furthermore, the second relates to the two-brand strategy Qantas has operated to cater for business travellers and leisure carriers. The study of global trends on an international level must be initiated in order to provide the correct service to diverse ranges of markets. With the emergence of their lower cost carrier Jetstar, the company has applied different ranges of classes to accommodate the social needs of their consumers. By operating the services of premium classes to business passengers and lower fare divisions to those of the leisure travellers, restructures the position to appeal to all consumers. 2.3 Environmental factors: Qantas’ key priority is the reduction of carbon emissions resulting in fuel burn (Holmes, 2013). Their environmental sustainability ensures the future vitality and maintenance for the company and the implementation of programs aids them to become a global environmental sustainability leader in the aviation industry (Qantas, 2014). The effect of their corporate social responsibility can be suggested through the application of minimising carbon emissions and carbon footprint through the introduction of the lower cost fleet, B787 Dreamliner. With its improved fuel efficiency, it is expected to use 20% less fuel (Passport, 2013). Human activities further reiterate climate and environmental issues, which ultimately influence the internal mix of the Qantas group. 2.4 Technological Factors: The importance of communication technology will always be of significance in regards to the tourism and airline industry (Coles and Hall, 2008).The enhancement of customer experience through the disbursement of modernised technology embedded in all carriers of Qantas has led to the rising operations of customers on a global scale. In an article relating to the key issues of the company, Holmes (2013) depicts the rewarding response in relation to the implementation of â€Å"online and mobile check-in, in-flight entertainment and electronic bag tagging† in regards to the intense global competition. The utilisation of an interactive application of RED, as well as the advanced browsing tool for frequent flyer users has been adapted to their global brand strategy in order for the improvement of quality and rewards for customers (Passport, 2013). Additionally, it has been noted that this generation of innovations is particularly reliant on information technology (IT) and communications technology (Pansiri and Courvisanos, 2010). In saying this, it is crucial for companies to navigate their views onto the online society to accommodate to a wider market. The functionality of particular social media strategies has aided Qantas to expose the brand in an online approach. With the extensive improvement of new forms and technologies, the continuing implementation of these devices is crucial for company as well as the consumer experience. 2.5 Political and legal factors: Reinforcing the fact that Qantas is a multinational company, the operation of its services must run in a highly regulated environment. Through global alliances and government regulation, the manifestation of air service agreements primarily dictates the spatial extent of the airline network (Coles and Hall, 2008). Amongst the complexity of the regulation of frameworks the aviation industry appear to regulate in, the requirement of considerable negotiations between global governments must be reiterated in some occasions when regulating their rights to specific routes and air space. Qantas continues to benefit from government protection in the Australia- Los Angeles route, where Qantas and United Airlines operate as a duopoly (Oxenbridge et al, 2010). Along with other alliances Qantas has tactically initiated, the air space is shared between Emirates, which inevitably upsurged their competition global position. Furthermore, the  implication of job security and the issues relating to Qantas’ legal dispute has created uncertainty for workers. With Qantas outsourcing their operations at a much lower rate of pay, has seized the attention of unions objectifying this notion. The major issued raised was the compatibility of the Fair Work Act in relation to the Qantas dispute. Forsyth and Stewart (2013) exemplify the issue of the ability of unions protecting their employee’s rights and jobs against the global competition of labour and outsourcing of jobs. This meant that in turn new enterprise agreements would be set out; pertaining Qantas to sought and revise their business strategy in the attempt to bargain with the unions. Nonetheless, this issue of the outsourcing of jobs is an increasing predicament resulting in long-term implications for workplace regulation in Australia (Forsyth and Stewart, 2013). Conclusion In this strenuous analysis, the difficulty of bestowing challenges faced upon Qantas has led to a tactical approach of forming alliances with the largest competitor in the aviation market. However, the application of internal and external factors must be applied in order to retain their market position. With its dominance of market share in the domestic market and increasing nature in the international segment, Qantas has the growth and potential to endure global forces imposing strategic approaches and marketing strategies. References: CLARKE, Andrew. The future for Qantas : still calling Australia home? [online]. ALTERNATIVE LAW JOURNAL; 31 (2) June 2006: 97-98. Coles, T and Hall, M.C., (2008) International Business and Tourism: Global Issues, Contemporary Interactions., Routledge Davidson, W. H. (1983). Market Similarity and Market Selection: Implications for International Marketing Strategy. Journal Of Business Research, 11(4), 439-456. Forsyth, Anthony and Stewart, Andrew. Of ‘kamikazes’ and ‘mad men’: The fallout from the Qantas industrial dispute [online]. Melbourne University Law Review, Vol. 36, No. 3, 2013: 785-830. Hazledine, T., (2011) Price discrimination in Australasian air travel markets. New Zealand Economic Papers., Vol. 45, Issue. 3 Holmes, L. (2013). High-flyer. Financial Management (14719185), 42(3), 32-34. IBISWorld (2014) Major companies. Accessed 3 April 2014 < http://clients1.ibisworld.com.au/reports/au/industry/majorcompanies.aspx?entid=471#MP32> Mules, R. (2013). The Long Haul:The QANTAS – Emirates Alliance. Busidate, 21(3), 2-4. Oneworld (2014) < http://www.oneworld.com/news-information/oneworld-fact-sheets/introduction-to-oneworld> Accessed on 9 April 2014 Oxenbridge, S., Wallace, J., White, L., Tiernan, S., & Lansbury, R. (2010). A comparative analysis of restructuring employment relationships in Qantas and Aer Lingus: different routes, similar destinations. International Journal Of Human Resource Management, 21(2), Pansiri, J., and Courvisanos, J., (2010) Attitude to Risk in technology-based strategic Alliances for Tourism. International Journal of Hospitality and Tourism Administration, Vol.11, Issue. 3 Passport QANTAS AIRWAYRS LTD IN TRAVEL AND TOURSIM (WORLD) (August 2013) Peter J. Danaher, John H. Roberts, Ken Roberts, Alan Simpson, (2011) Practice Prize Paper—Applying a Dynamic Model of Consumer Choice to Guide Brand Development at Jetstar Airways. Marketing Science 30(4):586-594 Qantas Airways Limited SWOT Analysis. (2014). Qantas Airways SWOT Analysis, 1-8. Qantas Group (2014) http://www.qantas.com.au/infodetail/about/environment/our-commitment-to-environmental-sustainability.pdf Accessed on 5 April 2014

Obesity in America

Obesity in America Obesity has become a concern for many Americans. The obesity rates have gotten worse over the years. People are constantly looking for ways to better themselves and improve their appearances. In our society, obesity has become one of the biggest problems of American culture. So many people are obese or overweight due to a number of factors that include behavior, environment, genetics, and medical conditions. Each play significant roles. Behavior relates to a person eating to many calories and not getting enough physical activity.Environment involves work, home, school, or community that provides barriers for active or inactive lifestyle. In addition to all the other factors, Americans do not get enough physical activity. Ehow. com states one of the main reasons of obesity is lack of exercise. A lot of the new technologies have taken up most of our time that going outside and exercise has been taken out. Many of our schools have taken physical education course out o f their curriculum’s. Exercise is not a priority for many Americans, and if we are taking the courses out of the curriculum’s, how are our youngsters able to learn good habits. It also statesLivestrong. com states several factors that contribute to the overall obesity problem. Getting too little sleep can increase a person’s body weight. Lack of sleep can contribute to hormonal changes, which in turn can increase appetite. CBS News conducted a study and ranked lack of sleep as the new overlooked cause of obesity. People tend to eat more during the day to increase their energy, because of not sleeping the recommended number of hours. Livestrong. com also states that Americans are smoking less. This leads to weight gain as your metabolism may slow down after one quits smoking, therefore burning fewer calories.There are many medical conditions that can cause obesity (WebMD. com). Hypothyroidism is a condition that affects ones thyroid. The thyroid produces too litt le hormone in the body and this slows down the metabolism and cause weight gain. Cushing syndrome is another. This is when the adrenal glands produce too much of a steroid hormone called cortisol. This can cause fat to build up in certain parts of the body. Some people with depression also tend to overeat. A doctor can test for symptoms and treat accordingly, if possible. Another possible reason for obesity is stress. According to yesword. om stress could be the main reason for obesity in America. Most Americans have very busy schedules, and eat on the run. Managing one’s life from work, family and social standpoints have stressed many Americans. Setbacks in personal or professional lives sometimes make one indulge in high caloric foods, known as comfort foods. CBSNews. com cited an article by David B Allison, PhD, University of Alabama at Birmingham as saying we are paying attention to the â€Å"Big Two†. They are fast food and too little exercise. He goes on to say t hat other factors are not explored. He and his colleagues suggest other possible reasons for obesity.Pollution can affect hormones. Hormones control our body weight. Most people live and work in temperature-controlled environments. Being in a room too hot or cold actually helps burn calories. Medicine can affect hormones. Drugs used to treat blood pressure, diabetes, and depression can cause weight gain. It has been suggested that the older a woman is when she gives birth; the risk is higher to the child to be obese. , Obese woman tend to marry obese men. There are studies that obesity is genetic, thus a union of two obese people, may pass down this trait for generations.In Conclusion, Obesity is one of the biggest problems people face every day. With better knowledge of contributing factors that can make a person obese, Americans can and will change this trend. It is important to eat properly and exercise, one's life could depend on it. Works Cited http://www. theyesword. com/main_ causes_of_obesity_in_america. htm http://www. webmd/diet/medical-reasons-obesity http://www. livestrong. com/article/354282-what-are-the-main-causes-of-obesity-in-america http://www. ehow. com/how-does_5558417_causes-obesity-america. html David B. Allison, PhD http://www. cbsnews. com/2100-500368_162-1757772. html

Starbucks Crisis Communication Plan Research Paper

Starbucks Crisis Communication Plan - Research Paper Example   The company's guiding philosophy will be to convey details as fast as probable and updating specifics regularly as conditions change. This is to make certain about the security of the Starbuck's society and the continuous operation of indispensable services and provisions. The company's efforts to be concurrently precise and quick may imply that several communications are imperfect. Starbuck's acknowledges this, understanding that how they communicate in an urgent situation or crisis will influence the public perceptions of the organization (Timothy, 2012). Openness and swiftness are the most effectual means to keep away from lasting harm to the establishment and extensive second-guessing by the community that anticipates instant access to precise information. A superior offense is the best protection. At the same instance, the company realizes that in a disaster, people will possibly anticipate Starbucks to have more details than they may essentially know. That makes it essentia l to communicating with precision concerning what they know and not to guess regarding details they do not recognize. The organization will employ numerous platforms to get to as many individuals as possible with precise, well-timed information. This is particularly significant in the initial hours and days of an urgent situation or an emergency. The company's objective is to be open, answerable and available to all audiences while as well being watchful of lawful and confidentiality concerns.  

Strategic Marketing Plan Assignment Example | Topics and Well Written Essays - 2000 words

Strategic Marketing Plan - Assignment Example Laura Ashley, the brand that originated from Welsh designer Laura Ashley, is a household name popularised by its colourful fabrics for clothes and home furnishings. Laura Ashley Plc. is a small family company with very specialised products spread in the Europe, UK and US. Started by the Ashleys in 1953 the company kept on embracing new products and companies and integrated vertically. The key for the significance and the competitive edge of the company was the design philosophy of Laura Ashley. Although the company faced a shock after the death of Laura Ashley but the company followed the line of Laura's designs. By 1985 the company established its own supply chain and kept on supplying the products at shops. The Company also implemented the Information system for effective communication with in the company Sales practice: The Company established the shops with the same design and undertaken research and development activities in order to analyse the consumer preferences regarding th e brand. As a result of the surveys conducted the company found the brand name as the major asset of the company, which could prove to be the main source of competitive advantage of the company. Using the Ansoff matrix which is a framework for identifying corporate growth opportunities with two dimensions determining the scope of options between products and markets, this study shall develop SMART strategic marketing objectives. It will identify four generic growth strategies: Market penetration of Laura Ashley means that the company need to aim selling its existing high-end products from accessories, beds, bedlinen and bedspreads, curtains, cushions and throws, fabric, furniture, lighting, mirrors, rugs, sofas and chairs, and wallpapers within the markets it is currently serving but in increasing numbers. Greater effort in sales and marketing to achieve higher product sales is needed for a bigger market share attained possibly through improved product quality or cost reductions. In this process, Laura Ashley must take the opportunity to capture high-end markets in emerging economies such as India and China. As LA's market has declined, more marketing efforts are needed. Market development means selling to new customers for existing products which could require market segmentation. New market in this instance could include previously un-served geographical areas, or another market segment which was not previously catered to. For Laura Ashley, considering its classic home furnishing and fabrics, new markets such as those seeking luxurious abode overseas could be a target. Age, for instance could also be factor for consideration in this process as it has been suggested by various studies that older age indicate diligent shoppers and pursue sedate lifestyle (Zeithaml, 1985 and Hisrich & Peters, 1974). LA could also go for full nesters indicative through movement in household as this group prefer consumer durables and are basically home-oriented (Shanginger and Danko, 1993) Product development through new designs of existing products capitalising on existing knowledge and skills for the market it once

Assignment #1 Coursework Example | Topics and Well Written Essays - 1000 words

Assignment #1 - Coursework Example The citizens enjoy several rights and freedoms but in the enjoyment of such, the people have a responsibility of ensuring that they do not hurt others. Courts therefore determine the aggrieved party and punishing the guilty party appropriately. In order to do this effectively, courts must maintain high ethical standards. The American government ensures that by developing an independent judiciary. By eliminating interference from the other two arms of the government, the judiciary enjoys the autonomy to make rulings depending on their interpretation of the law and the available evidence. Judges and prosecutors among other parties in the judiciary On the other hand must uphold high ethical standards, operate with the view of providing justice and uphold the constitutionalism in the governance of the country. The courts should provide amicable solutions to conflicts that arise in different spheres including commercial sectors among many others within the country (Halbrook, 1998). Cine should not answer the interrogations, answering the interrogations is tantamount to the party providing incriminating evidence against him or her. The Miranda rights for example is a statement that law enforcer read to suspects warning them not to talk since whatever they say is used in incriminating them in a court of law. This implies that the constitution recognizes the fact that one should not incriminate himself or herself. The prosecutor must carry out independent investigations and determine his or her own original evidence. Compelling Cine Forty Theater Group to answer the interrogations is forcing the party incriminate itself, it thus becomes appropriate for the company to reserve its thoughts on the case and use such during the court proceeding in defending itself thereby proving the other party liable. Legal proceedings have effective legislations governing the operations and actions of each party conjoined in a court case. Contempt of court is a

Digital Journalism Essay Example | Topics and Well Written Essays - 2000 words

Digital Journalism - Essay Example The changing face of journalism and mass communication is the rise of web 2.0. This is the rise of a new form of technology that allows people to not only read information online, but they can also contribute to the subject of discussion. The main characteristic is that he pages are not static, such that one reads information and contributes her opinion on the topic of discussion. The user can also store information, and social bookmarking abilities. This is the example of facebook and other social networking sites that allow for users to share information and share ideas (Fuchs 2011). Web 2.0 has an audience. The audience comprises of those who read the information on the sites and contribute. The rise of blogging has given a different dimension to the practice of web 2.0. The sites have their own audience comprising of people who visit the sites and share information. Those who participate in the blogging sites and other commentary sites comprise the audience of the sites. This platform has an impact on mainstream media as bloggers and other users can gather information and share it on these platforms, making the role of main stream media greatly diminished. Additionally, the users of web 2.0 can use the platform to confirm or deny the information carried on mainstream media, making it essential for journalists to always confirm their work before sharing (Dahlberg & Siapera 2007). It thus, increases accountability. The web 2.0 media are also cheaper ways of advertising and can carry more advertising messages as opposed to mainstream media. This means that the business that is the main source of revenue for mainstream media is being diverted. The use of the web 2.0 platform can also allow users to post information that is targeted at a specific audience based on the target audience of the blog. This increases precision of the message and

Marketing exam Essay Example | Topics and Well Written Essays - 4250 words

Marketing exam - Essay Example When organizations test themselves internally, they create the environment of discovering opportunities. Internal marketing helps in building team spirit. It empowers the employees to take a view of the organization from the perspective of an owner. When employees are more engaged to the organization, their care and concern for the organization rises. Nowadays, most of the companies believe in satisfying internal customer (employees) first and after that they choose to satisfy their external customers (customers). The concept behind this idea is that when internal customer will be satisfied, then the external customers will eventually get satisfied by the quality of service provided by internal customers to them. Internal Marketing helps in keeping employees happier. Happier employees will keep their customers happy. Internal marketing makes employees consider themselves as an integral part of organization which motivates them. Apart from the media communication, customer service is all about building long-term relationships, connection and trust. Internal marketing enhances employee recognition which ultimately helps in improved and better customer service. (Thomspon, 2010) For planning internal marketing, the management of the organization, the employees and the customers must be in harmony. Only by this way, an organization can become customer oriented organization. Other important elements to be included in marketing plan include; target perception, internal marketing objectives, program measurement, communications strategy etc. (CBS News, 2007) According to Varey (p.80, 2000), there are some important barriers in implementing internal marketing. Organizations face a lot of resistance in the acceptance of internal marketing organization-wide. Resistance to change from the side of employees is the major obstacle in the implementation of internal marketing. Apart

Book Review Essay Example | Topics and Well Written Essays - 1250 words

Book Review - Essay Example In these chapters, Campbell shows how slaves arrived in Texas, whose population increased from around 5,000 to over 160,000, thereby composing over 30 percent of the region’s population by 1860. In the other parts of the book, Campbell provides a survey examining the standpoints of the slave owners, and the economic conditions, life, and culture of the slaves. Through this, Campbell demonstrates his grasp and understanding of a wide array of sources, and utilizes 181 slave narratives from the Federal Writers Project interviews, which he uses in a quantitative analysis. There are several extensive studies on the thirteen out of the fifteen states that allowed slavery during that era. Texas is one of the two states that lack relevant research on this topic. Campbell sees this issue and decides to resolve it by producing this empirical work that uses both quantitative and qualitative research methods to that explains five fundamental topics: 1) the development and escalation of s lavery; 2) the psychological and physical conditions of slavery; 3) impact of slavery to slave owners either individually or collectively; 4) legal and economic functions of slavery; and, 5) effect of Civil War to slavery. Campbell presents a few statements regarding the uniqueness of the conditions of slavery in Texas. For one, since Texas was originally within Mexico’s jurisdiction, and since Mexico is opposed to slavery, this situation created a group of black people who were considered bondsmen for a year less than a century. These blacks were neither slaves nor free people. Similarly, freed slaves who remained in Texas were viewed as neither citizens nor property. However, chapter 4 of the book suggests that the slavery economics in Texas is similar to those in the other southern states. Campbell explores this concept as well in other chapters as he tackles the slaves’ work conditions in chapter 6, and treatment and material situation in chapter 7. This book leans toward portraying that despite a few distinctions, the conditions of slavery in Texas do not differ from the other states, making it a good source of information about history, but not too much on slavery. Evaluation of Sources The book showcases 15 tables, 9 maps, and 4 appendices that provide vital data mostly on the geographic growth and economic nature of slavery. It also contains a massive bibliography regarding slavery in Texas. It is striking how the author utilizes a wide array of sources to complete the book. He uses the qualitative research method to present sources gathered from court and plantation records, contemporary newspapers, census, diaries, and letters. These sources provide insights on the concepts of protecting the society from slaves and protecting the slavery institution. He also uses the quantitative research approach to present sources gathered from narratives of former slaves, probate inventories, tax records, and government consensus. The narratives cons ist of 181 stories told by former slaves that depicts their feelings and views on the â€Å"peculiar institution.† He took the common data among the narratives and turned

Awareness movie Solving Educational behaviors problem in intermediate Thesis Proposal

Awareness movie Solving Educational behaviors problem in intermediate schools by using 2d animation - Thesis Proposal Example In essence, if the wrong educational behaviors among students can be dealt with, students will be saved from bad influence. There are some of the educational malpractices that can be alleviated through animation and youtube movies as a tool of demonstration where students are left to make their own conclusions. The impact of new media on the third world countries has been debated for long. Boyd and Straubhaar (1985) established that new media such as video cassettes recorders had a significant behavioral influence on youths in the third world countries, and this hypothesis was supported by a study carried out by Greeson and Williams in 1986. In the same line of thought, Zimam (2008) conducted a study on new communication and established that it has impacted on the education of teenagers. Toda and Ezoe (2008) further established that internet on mobile phones had impacted greatly on female students and on the role of parents in guiding the attitudes of their children. With the proven negative impact on teenagers, this literature sets a background for a call for quick sustainable intervention. On alcohol influence, Sargent et al. (2006) agree that motion pictures encourage schooling teenagers to start drinking early. On smoking and drinking, Dalton et al. (2006), Hanewinkel et al. (2008a) and Hanewinkel et al. (2008b) agree that movie viewing on whatever channel, youtube, cinema and television expose teenagers to smoking and alcohol misuse behavior. On sexual behavior, mass media is analyzed by Brown et al. (2005), Hawk et al (2006) and Brown et al. (2006), and they contend that movies, music and television as the ones viewed from youtube and other channels influence sexual behavior among teenagers. In another study by Hawk et al. (2006), the researchers agree with findings of Calfin et al (1993) where music and video were found to greatly influence teenagers to

Argument essay Example | Topics and Well Written Essays - 1250 words - 2

Argument - Essay Example Censorship discourages economic growth by hindering business development; this has a vast negative impact. This is evident when considering the number of the movies that are being banned or scrapped off due to the sole decision of an individual that the contents of the movies are said to be unfit for public viewing. This is not in order in spite of the fact that individuals may at times be dismissive of it terming it as protection (Reichman 66). The role of film classification officers is thus put into question as it is unclear why a committee is left to determine what films are watchable and which are not despite the clear fact that it is the regulators who place the age restrictions quite higher than they should actually, creating a negative impact on the business personalities. Information is power and a population that is empowered is better off than that which is denied information. This impact was seen in Ireland for example in the year 2000 on the film called, ‘The cider house rules,’ a movie which was given an over 18 certificate proclaiming that the information that it presented on abortion and incest was wrong. In issuing such restrictions, they argue that any individual who wants to have access to such a film must first possess an idea of the film contents and the message passed (Caso 172). This may be correct but the younger population should access the message communicated by the film especially with the onset of technological growth coupled with the fact that technology is and will continue to be a major pillar of economic growth. Therefore, many businesses are adversely affected when restrictions in terms of laws and regulations are put in place in such an environment (Lederer and Richard 312). In addition, censorship denies individuals their freedom of expression and access to information, since it is beneficial for one to be able to make well-informed decisions, but it is discouraging when some sectors within the society influence, and place restrictions on individuals to shape the values of the society members in terms of what they should do or not do. It is only possible to make clear and well-informed decisions when the individuals have all the necessary information to make such decisions. This is what censorship denies the population, the chance to make their own independent and well-informed choices by influencing their decisions and choices in a direction of their preference (Lederer and Richard 72). However, the fact that people should be allowed to make their own decisions does not mean the same people will invest their efforts in acts that would go against the norms of the society. The regulations placed have resulted into situations whereby individuals are not able to make critical decisions like those that involve the choice of curriculums in schools. This inability is attributed to inappropriate information that has made it extremely difficult for the school going personalities to be in the positi on of choosing extra curriculum activities and relevant collegial groups than they were able to before. Therefore, censorship should be discouraged since it even cuts

Harry Potter and the Sorcerer’s Stone Essay Example for Free

Harry Potter and the Sorcerer’s Stone Essay Ever since the first printing of the first Harry Potter novel, the book series has been under attack from people arguing that the books are intended to initiate children into witchcraft and demonic practices or that they undermine traditional spiritual values. Yes, indeed, there are ghosts and Halloween, and the practice of magic. However, Harry Potter books are no more a threat to the traditional spiritual values of our children than The Wizard of Oz was before them. Harry Potter has not grown up in a â€Å"normal† family, even outside of the wizarding world. The Dursleys do not care for Harry and treat him poorly. They are clearly nominally Christians; in Chapter Two, Harry’s uncle threatens him with punishment, saying that Harry will â€Å"be in that cupboard from now until Christmas† if he is involved in any â€Å"funny business† (24). There is no evidence, however, that the Dursleys ever practice any particular faith. That lack of spiritual practice carries through the book, even in the wizarding world. .While no one falls to his or her knees in religious fervor, neither does anyone sacrifice a goat to Satan. Rowling has kept her books carefully neutral, but not because she wishes to undermine traditional spiritual values. Rather, it seems that Rowling wishes to appeal to the largest possible audience, without appealing to one spiritual belief over another. Rowling presents Halloween in such a manner that would appeal to the imagination of children, with bats, candles in pumpkins, and a feast; however, it is also merely a backdrop for the action that brings the Three Musketeers of Harry, Ron, and Hermione together (Rowling 172-179). Later in the book, the characters celebrate Christmas. Christmas, however, is no different from Halloween. The Christmas break serves only to give Harry a quiet moment to investigate the library and to investigate the Mirror of Erised (Rowling 204-209). Once again Rowling is carefully neutral, describing Christmas only in terms of what would appeal to children. While Rowling focuses primarily on food, gifts, and games, Ron’s brother George also takes the time to tell another brother that he will not be sitting with his fellow prefects, because â€Å"Christmas is a time for family† (203). Rather than glorifying the wizarding world, Rowling chooses to show that the wizarding world is no more appealing than the Muggle world. There are still bullies there: Draco Malfoy is just like Harry’s cousin, only he is thinner and can ride a broom. Friendship and loyalty and knowledge are all valued there; fellowship and fun are as much a part of the school as magic is. Harry Potter and the Sorcerer’s Stone is simply a fantasy story about a boy and his friends away at boarding school. The only real magic connected to this book is that it rekindled many children’s interest in reading. Who can truly argue with that result?

Educational stages Essay Example for Free

Educational stages Essay Education in its general sense is a form of learning in which knowledge, skills, and habits of a group of people are transferred from one generation to the next through teaching, training, research, or simply through autodidacticism. [1] Generally, it occurs through any experience that has a formative effect on the way one thinks, feels, or acts. Systems of schooling involve institutionalized teaching and learning in relation to a curriculum, which itself is established according to a predetermined purpose of the schools in the system. Schools systems were also based on peoples religion giving them different curricula. [edit] Curriculum Main articles: Curriculum, Curriculum theory, and List of academic disciplines School children in Durban, South Africa. In formal education, a curriculum is the set of courses and their content offered at a school or university. As an idea, curriculum stems from the Latin word for race course, referring to the course of deeds and experiences through which children grow to become mature adults. A curriculum is prescriptive, and is based on a more general syllabus which merely specifies what topics must be understood and to what level to achieve a particular grade or standard. An academic discipline is a branch of knowledge which is formally taught, either at the university–or via some other such method. Each discipline usually has several sub-disciplines or branches, and distinguishing lines are often both arbitrary and ambiguous. Examples of broad areas of academic disciplines include the natural sciences, mathematics, computer science, social sciences, humanities and applied sciences. [5] Educational institutions may incorporate fine arts as part of K-12 grade curriculums or within majors at colleges and universities as electives. The various types of fine arts are music, dance, and theater. [6] [edit] Preschools Main article: Preschool education The term preschool refers to a school for children who are not old enough to attend kindergarten. It is a nursery school. Preschool education is important because it can give a child the edge in a competitive world and education climate. [citation needed] While children who do not receive the fundamentals during their preschool years will be taught the alphabet, counting, shapes and colors and designs when they begin their formal education they will be behind the children who already possess that knowledge. The true purpose behind kindergarten is â€Å"to provide a child-centered, preschool curriculum for three to seven year old children that aimed at unfolding the child’s physical, intellectual, and moral nature with balanced emphasis on each of them. †[7] [edit] Primary schools Main article: Primary education Primary school in open air. Teacher (priest) with class from the outskirts of Bucharest, around 1842. Primary (or elementary) education consists of the first 5–7 years of formal, structured education. In general, primary education consists of six or eight years of schooling starting at the age of five or six, although this varies between, and sometimes within, countries. Globally, around 89% of primary-age children are enrolled in primary education, and this proportion is rising. [8] Under the Education For All programs driven by UNESCO, most countries have committed to achieving universal enrollment in primary education by 2015, and in many countries, it is compulsory for children to receive primary education. The division between primary and secondary education is somewhat arbitrary, but it generally occurs at about eleven or twelve years of age. Some education systems have separate middle schools, with the transition to the final stage of secondary education taking place at around the age of fourteen. Schools that provide primary education, are mostly referred to as primary schools. Primary schools in these countries are often subdivided into infant schools and junior school. In India, compulsory education spans over twelve years, out of which children receive elementary education for 8 years. Elementary schooling consists of five years of primary schooling and 3 years of upper primary schooling. Various states in the republic of India provide 12 years of compulsory school education based on national curriculum framework designed by the National Council of Educational Research and Training. Students working with a teacher at Albany Senior High School, New Zealand Students in a classroom at Samdach Euv High School, Cambodia In most contemporary educational systems of the world, secondary education comprises the formal education that occurs during adolescence. It is characterized by transition from the typically compulsory, comprehensive primary education for minors, to the optional, selective tertiary, post-secondary, or higher education (e. g. university, vocational school) for adults. Depending on the system, schools for this period, or a part of it, may be called secondary or high schools, gymnasiums, lyceums, middle schools, colleges, or vocational schools. The exact meaning of any of these terms varies from one system to another. The exact boundary between primary and secondary education also varies from country to country and even within them, but is generally around the seventh to the tenth year of schooling. Secondary education occurs mainly during the teenage years. In the United States, Canada and Australia primary and secondary education together are sometimes referred to as K-12 education, and in New Zealand Year 1–13 is used. The purpose of secondary education can be to give common knowledge, to prepare for higher education or to train directly in a profession. The emergence of secondary education in the United States did not happen until 1910, caused by the rise in big businesses and technological advances in factories (for instance, the emergence of electrification), that required skilled workers. In order to meet this new job demand, high schools were created, with a curriculum focused on practical job skills that would better  prepare students for white collar or skilled blue collar work. This proved to be beneficial for both employers and employees, for the improvement in human capital caused employees to become more efficient, which lowered costs for the employer, and skilled employees received a higher wage than employees with just primary educational attainment. In Europe, grammar schools or academies date from as early as the 16th century, in the form of public schools, fee-paying schools, or charitable educational foundations, which themselves have an even longer history.

Capital structure and approaches to capital structure

Capital structure and approaches to capital structure It is defined as the mix or proposition of a firms permanent long-term financing represented by debt, preference stock, and common stock equity. Capital structure theory suggests that firms determine what is often referred to as a target debt ratio, which is based on various tradeoffs between the costs and benefits of debt versus equity. The term capital structure refers to the percentage of capital (money) at work in a business by type. Broadly speaking, there are two forms of capital: equity capital and debt capital. Each has its own benefits and drawbacks and a substantial part of wise corporate stewardship and management is attempting to find the perfect capital structure in terms of risk / reward payoff for shareholders. This is true for Fortune 500 companies and for small business owners trying to determine how much of their startup money should come from a bank loan without endangering the business Lets look at each in detail: Equity Capital This refers to money put up and owned by the shareholders (owners). Typically, equity capital consists of two types: 1) contributed capital, which is the money that was originally invested in the business in exchange for shares of stock or ownership and 2)  retained earnings, which represents profits from past years that have been kept by the company and used to strengthen the  balance sheet  or fund growth, acquisitions, or expansion. Many consider equity capital to be the most expensive type of capital a company can utilize because its cost is the return the firm must earn to attract investment. A speculative mining company that is looking for silver in a remote region of Africa may require a much higher  return on equity  to get investors to purchase the stock than a firm such as Procter Gamble, which sells everything from toothpaste and shampoo to detergent and beauty products. Debt Capital The debt capital in a companys capital structure refers to borrowed money that is at work in the business. The safest type is generally considered long-term bonds  because the company has years, if not decades, to come up with the principal, while paying interest only in the meantime. Other types of debt capital can include short-term commercial paper utilized by giants such as Wal-Mart and General Electric that amount to billions of dollars in 24-hour loans from the capital markets to meet day-to-day working capital requirements such as payroll  and utility bills. The cost of debt capital in the capital structure depends on the health of the companys balance sheet a triple AAA rated firm is going to be able to borrow at extremely low rates versus a speculative company with tons of debt, which may have to pay 15% or more in exchange for debt capital. Other Forms of Capital There are actually other forms of capital, such as  vendor financing  where a company can sell goods before they have to pay the bill to the vendor, that can drastically increase return on equity but dont cost the company anything. This was one of the secrets to  Sam Waltons success at Wal-Mart. He was often able to sell Tide detergent before having to pay the bill to Procter Gamble, in effect, using PGs money to grow his retailer. In the case of an insurance company, the policyholder float represents money that doesnt belong to the firm but that it gets to use and earn an investment on until it has to pay it out for accidents or medical bills, in the case of an auto insurer. The cost of other forms of capital in the capital structure varies greatly on a case-by-case basis and often comes down to the talent and discipline of managers. SEEKING THE OPTIMAL CAPITAL STRUCTURE Many middle class individuals believe that the goal in life is to be debt-free. When you reach the upper echelons of finance, however, that idea is almost anathema. Many of the most successful companies in the world base their capital structure on one simple consideration: the cost of capital. If you can borrow money at 7% for 30 years in a world of 3% inflation and reinvest it in core operations at 15%, you would be wise to consider at least 40% to 50% in debt capital in your overall capital structure. Of course, how much debt you take on comes down to how secure the revenues your business generates are if you sell an indispensable product that people simply must have, the debt will be much lower risk than if you operate a theme park in a tourist town at the height of a boom market. Again, this is where managerial talent, experience, and wisdom comes into play. The great managers have a knack for consistently lowering their  weighted average cost of capital  by increasing productivity, seeking out higher return products, and more. To truly understand the idea of capital structure, you need to take a few moments to read Return on Equity: The DuPont Model  to understand how the capital structure represents one of the three components in determining the  rate of return  a company will earn on the money its owners have invested in it. Whether you own a doughnut shop or are considering investing in publicly traded stocks, its knowledge you simply must have. Question on our minds: Can the total valuation of a company (debt+equity) and the cost of capital be affected by changing the financing mix. The imperfections in the market play a vital role in the valuation of a company. This data is of utmost importance to the suppliers of capital. Changes in the financing mix are assumed to occur by issuing debt and repurchasing common stock or by issuing common stock and retiring debt. Example 1. Assume a company whose earnings are not expected to grow and which pays out all of its earnings to its shareholders in the form of dividends. All kinds of market imperfections are not considered in the current example, for simplicity in calculations. We are concerned mainly with 3 different rates of return. The first is The yield on companys debt, ki = = The second rate of return that we are concerned with is ke = = With our assumptions that the firms earnings are not expected to grow and which has a 100 percent dividend payout, the firms earning per price represents the market rate of discount that equates the present value of the perpetual stream of expected constant future dividends with the current market price of the common stock. The third rate to be calculated is ko = = These 3 different rates of return affect the amount of financial leverage, which is the debt to equity ratio. ko is defined as the overall capitalization rate of the firm. It is designed as the weighted average cost of capital, and can also be expressed as ko = ki [] + ke [] Calculating A Companys Capital Structure Review your companys most recent financial statements to find all of the capital components. Highlight all of the debt of the company and the equity (including common and preferred shares, capital contributions and retained earnings). Add up the total debt and equity It will be equal to your companys assets on the balance sheet because the debt and equity is what paid for those assets. Your capital structure is the percentage that each funding source represents of your companys total funding. Lets look at an example. Lets say you have the following capital components: bank loan $176,500, retained earnings $54,300, common stock $12,500. That makes your total capital $243,300. To calculate your capital structure, take the dollar amount of each capital source and divide it by the total capital. In the above example, the bank loan is 72.5%, retained earnings 22.3%, capital stock 5.2% for a total of 100%. Monitor your companys capital structure over time. Debt tends to be the most expensive source of capital and, over time, you will determine the most effective blend of debt versus equity financing for your particular situation. Calculating your actual capital structure will allow you to track how closely you are following your ideal capital structure. Factors Affecting Capital Structure The factors that affect the decisions taken regarding capital structure can be divided into three major types: Internal Factors External Factors General Factors INTERNAL FACTORS Cost of Capital The cost of capital is the cost of the companys funds. It consists of debts and equity. When a company raises funds for its operations there are certain costs involved. When decisions regarding the capital structure are taken, managers ensure that the earnings on the capital are more than this cost of capital. In general, the cost of borrowing capital is less than the cost of equity capital. This is because the interest rate on loans and borrowings is less than the dividend rates and also the dividends are a function of the companys profits and not expenditure. Risk Factor When decisions regarding capital structure are to be taken, the risk factors considerations are an important issue. If company raises its funds through debts, the risks involved are of two types: The company has to repay the lenders in a fixed time period and at a fixed rate, whether or not the company makes profit or goes into loss. The borrowed capital is secured capital. Hence, if the company fails to make the payments, the lenders can take possession of the companys assets. If the company goes for funds through equity capital there are minimum risks. As the dividends are an appropriation of the companys profits, if it does not make any profit, it is not obliged to make the payments. In contrast to debt capital, here the company is not expected to repay its equity capital. And also the equity capital is not secured. Control Factor When additional funds are to be raised, the control factors are very essential in deciding the capital structure of the company. When a company decides to issue further equity shares the control of the company may be at stake. Hence, it may not be acceptable to its shareholders and owners. This factor is not vital in case of debt financing, except when financing institutions stipulate the appointment of nominee directors in the Board of Directors of the company. Objects of Capital Structure Planning They are- Maximize profit of the owners Issue transferable securities Issue further securities in a way that does not dilute the holdings of the present owners EXTERNAL FACTORS General Economic Conditions: If the economy is in the state of depression, equity funding is considered as it involves less risk. While, if the economy is booming and the interest rates are forecasted to fall, debt funding is given preference. Interest Rate Levels: If the interest rates are high in the capital market, equity funding is preferred until the interest rate levels fall down. Policy of Lending Institutions: If the terms and policies of the financing institutions are rigid and harsh, debt financing should be ignored and equity financing should be tapped. Taxation Policy: The government has taxation policies which include corporate taxes as well as individual taxes. The government includes individual taxes on both borrowings as well as dividends. Also income tax deductions are offered on interests paid on borrowings. All these factors have to be considered while planning capital structure. Statutory Risks: While planning Capital Structure, the statutory risks given by the Government and other statutes are to be considered. GENERAL FACTORS Constitution of the company: If the company is private limited, the control factors are essential while if the company is public limited, the cost factors are essential. Characteristics of the company: Companies which are small and in the early stage have weak credit standings and bargaining capacity, hence they have to rely on equity financing. While big companies have strong credit standings and they can source their funds from borrowings with acceptable interest rates. Stability of earnings: The companies which have stable earnings and the risks involved are less, go for debt funding as they can handle the high risk factors. While companies whose earnings are forecasted to be fluctuating, usually go for less risky equity funding. Attitude of the Management: For a company with conservative management, the control factor is more important, while a company with a liberal management considers the cost factors to be more important. Approaches to Capital Structure Net Operating Income Approach Traditional Approach Net Income Approach Modigliani Miller Approach Net Operating Income Approach David Durand proposed the net income approach to capital structure. This approach looks at the consequence of alterations in capital structure in terms of net operating income. Under this approach, on the basis of net operating income, the overall value of the firm is measured. Therefore this approach is identified as net operating income approach. The NOI approach entails that: Largely the value of the firm does not depend on the degree of leverage in capital structure and hence whatever may be the change in capital structure the overall value of the firm is not affected. In the same way, the overall cost of capital is not affected by any change in the degree of leverage in capital structure. The overall cost of capital is independent of leverage. Under the net income approach, the overall cost of capital is unaffected and remains constant irrespective of the change in the ratio of debts to equity capital when the cost of debt is less than that of equity capital whereas it is assumed the overall cost of capital must decrease with the increase in debts. How is this assumption justified? With the increase in the amount of debts the degree of risk of business increases. As a result the rate of equity over investment in equity shares thus on one hand the WACC decreases with the increase in the amount of debts; on the other hand cost of equity capital increases to the same tune. Therefore the benefit of leverage is mopped away and the overall cost of capital remains at the same level. In other words there are two parts of the cost of capital. Interest charges on debentures. The increase in the rate of equity capitalization resulting from the increase in risk of business due to higher level of debts. OPTIMUM CAPITAL STRUCTURE This approach suggests that whatever the degree of indebtedness of the company, market value remains constant. Despite the change in the ratio of debt to capital in the market value of its equity shares remains constant. This means that there is no optimal capital structure. Each capital structure is optimal in approach of net operating income The market value of the firm is determined as follows:   The value of equity can be determined by the following equation and   The Net Operating Income Approach is based on the following assumptions: Example: ABC Ltd., is expecting an earnings before interest tax of Rs.1,80,00,000 and belongs to risk class of 10%. You are required to find out the value of firm % cost of equity capital if it employs 8% debt to the extent of 20%, 35% or 50% of the total financial requirement of Rs. 90000000. Solution Statement showing value of firm and cost of equity capital   20% Debt 35% Debt 50% Debt Earnings before interest tax EBIT ($) 18000000 18000000 18000000 Overall cost of capital 10% 10% 10% Value of firm (V) = EBIT Cost of Capital{EBIT/Cost of Capital} 180000000 180000000 180000000 Value of 8% debt (D) 18000000 (20% ÃÆ'- 90000000) 31500000 (35% ÃÆ'- 90000000) 45000000 (50% ÃÆ'- 90000000) Value of equity (V D) 162000000 148500000 135000000 Net profit (EBIT Interest) 16560000 (18000000 1440000) 15480000 (18000000 2520000) 14400000 (18000000 3600000) (Cost of equity (Kc) 10.22% 10.42% 10.66% (Net profit/value of equity) ÃÆ'- 100 (16560000/ 162000000) ( 15480000/ 148500000) ( 14400000/ 135000000) It is apparent from the above computation that the overall cost of capital value of firm; re-constant at different levels of debt i.e., at 20%, 35% and 50%. The benefit of debt content is offset by increase in the cost of equity. The overall cost of capital (k0) remains constant and can be verified as follows: Overall Cost of Capital k0 = kd   (D/D+S) + Ke   (S/D+S) 20% Debt K0 =   $4,00,000/$40,00,000   ÃÆ'-8% + $36,00,000/$40,00,000 X   10.22% = 0.008 + 0.092 = 0.10 or 10% 35% Debt K0 = $7,00,000/$40,00,000   ÃÆ'-8% + $33,00,000/$40,00,000 X   10.42% = 0.014 + 0.0859 = 0.0999 Or 10% 50% Debt K0 = $10,00,000/$40,00,000   ÃÆ'- 8% + $30,00,000/$40,00,000 X   10.66% = 0.02 + 0.07995 = 0.0995 or 10% Traditional Approach Traditional approach is a  middle-way approach between net operating income approach the net income approach. According to this approach: (1) A best  capital structure  does exist. (2) Market value of the firm can be increased and average cost of capital can be reduced through a prudent manipulation of leverage. (3) The cost of debt capital increases if debts are increases beyond a definite limit. This is because the greater the risk  of business  the higher the  rate of interest  the creditors would ask for. The rate of equity capitalization will also increase with it. Thus there remains no benefit of leverage when debts are increased beyond a certain limit. The cost of capital also goes up. Traditional Approach Thus at a definite level of mixture of debts to equity capital, average cost of capital also increases. The  capital structure  is optimum at this level of the mix of debts to equity capital. The effect of change in  capital structure  on the overall cost of capital can be divided into three stages as follows; First stage In the first stage the overall cost of capital falls and the value of the firm increases with the increase in leverage. This leverage has beneficial effect as debts as debts are less expensive. The cost of equity remains constant or increases negligibly. The proportion of risk is less in such a firm. Second stage A stage is reached when increase in leverage has no effect on the value or the cost of capital, of the firm. Neither the cost of capital falls nor the value of the firm rises. This is because the increase in the cost of equity due to the assed financial risk offsets the advantage of low cost debt. This is the stage wherein the value of the firm is maximum and cost of capital minimum. Third stage Beyond a definite limit of leverage the cost of capital increases with leverage and the value of the firm decreases with leverage. This is because with the increase in debts investors begin to realize the degree of financial risk and hence they desire to earn a higher rate of return on equity shares. The resultant increase in equity capitalization rate will more than offset the advantage of low-cost debt. It follows that the cost of capital is a function of the degree of leverage. Hence, an optimum  capital structure  can be achieved by establishing an appropriate degree of leverage in  capital structure. Net Income Approach This approach states that, the cost of debt and the cost of equity do not change with a change in the leverage ratio(when D/E changes), due to which it is observed that there is a weakening in the cost of capital as the leverage increases. The cost of capitalcan be calculated by the use Net income approach; weighted average of cost of capitalcan be explained by the following equation; http://lh6.ggpht.com/cemismailsezer/R4_ZkNJ-ThI/AAAAAAAAADY/RZYaGVynnUw/image%5B5%5D where: Ko: average cost of capital Kd: cost of debt Ke: cost of equity B: market value of debt S: market value of equity As we know that cost of debt is less than cost of equity (Kd http://lh6.ggpht.com/cemismailsezer/R4_ZlNJ-TjI/AAAAAAAAADo/de5aDk2tbUo/image%5B8%5D The Net Income Approach assembles the investment structure of the firm which has a major influence on the value of the firm. Therefore, the use of control will change both the worth of the organisation cost of capital. Net Income is exploited in approaching the market value that firm possesses. In this analysis Ka decreases when the D/E ratio increases as the proportion of debt, cheaper source of finance, increase in the capital structure vice versa. Assumptions of net income approach the perception of risk is not altered by the use of liability for the investors; as a result, the equity capitalisation rate i.e. ke, and the debt capitalisation rate kd, remain constant with changes in leverage The debt capitalization rate is less than the equity capitalization rate The corporate income taxes are not considered. Numerical example: Assume that a firm has an expected annual net operating income of Rs.2, 00, 000, an equity rate, ke, of 10% and Rs. 10, 00,000 of 6% debt. The value of the firm according to NET INCOME approach: Net Operating Income NOI 2, 00,000 Total cost of debt Interest= KdD, (10, 00,000 x .06) 60,000 Net Income Available to shareholders, NOI I 1, 40,000 Therefore: Market Value of Equity (Rs. 140,000/.10) 14, 00,000 Market value of debt D (Rs. 60,000/.06) 10, 00,000 Total 24, 00,000 Note: The cost of equity and debt are respectively 10% and 6% and are assumed to be constant under the Net Income Approach Ko = Kd (D/V) + Ke (S/V) = 0.06 (10, 00,000/24, 00,000) + 0.10 (14, 00,000/24, 00,000) = 0.025 + 0.0583 = 0.0833 or 8.33% Modigliani Miller (MM) Approach Assumptions of the MM Approach Capital market is perfect. It is so when: Information is freely available Problem of asymmetric information does not exist Transaction cost is nil There is no bankruptcy cost Securities are fully divisible 100% payout ratio Investors and managers are rational Managers act in interest of shareholders Combination of risk and return is rationally chosen Expectations are homogenous Equivalent risk class No taxes Investors can borrow in personal A/C at same terms of firm. Proposition I Value of the form is equal to the expected operating income divided by discount rate appropriate to its risk class. It is independent of capital structure i.e. where, V = Market Value of the Firm D = Market Value of the debt E = Market value of the equity O = Expected Operating Income r = Discount rate applicable to risk class to which firm belongs Proposition I is almost similar to the Net Operating Income Approach. MM used arbitrage argument to prove this approach. MM argues that identical assets must sell for same price, irrespective of how they are financed. Arbitrage Process If the price of a product is unequal in two markets, traders buy it in the market where price is low and sell it in the market where price is high. This phenomenon is known as price differential or arbitrage. As a result of this process of arbitrage, price tends to decline in the high-priced market and price tends to rise in the low-priced market unit the differential is totally removed. Modigliani and Miller explain their approach in terms of the same process of arbitrage. They hold that two firms, identical in all respects except leverage cannot have different market value. If two identical firms have different market values, arbitrage will take place until there is no difference in the market values of the two firms. Example: Let us suppose that there are two firms, P and Q belonging to the same group of homogenous risk. Firm P is unlevered as its capital structure consists of equity capital only Firm Q is levered as its capital structure includes 10% debentures of Rs.10,00,000 According to traditional approach, the market value of firm Q would be higher than that of firm P. But according to M-M approach, this situation cannot persist for long. The market value of the equity share of firm Q is high but investment in it is more risky while the market value of the equity share of firm P is low but investment in it is safe. Hence investors will sell out equity shares of firm Q and purchase equity shares of firm P. Consequently the market value of the equity shares of firm Q while fall, while the market value of the equity shares of firm P will rise. Through this process of arbitrage therefore, the market values of the firms P and Q will be equalized. This is true for all firms belonging to the same group. In equilibrium situation, the average cost of capital will be same for all firms in the group. The opposite will happen if the market value of the firm P is higher than that of the firm Q. In this case investors will sell equity shares of P and buy those of Q. Consequently market values of these two firms will be equalised. Proposition II MM Proposition II states that the value of the firm depends on three things: Required  rate  of return on the firms assets (ra) Cost of debt of the firm (rd) Debt/Equity ratio of the firm (D/E) An increase in financial leverage increases expected Earnings per Share (EPS) but not share prices. Proposition II states that an expected rate of return of shareholders increases with financial leverage. Expected ROE is equal to expected rate of return on assets plus premium. The formula for re is: re = ra + (ra-rd)x(D/E) Implications of Proposition II- rd is independent of D/E and hence re increases with D/E. The debt crosses an optimal level, the risk of default increases and expected return on debt rd increases. Limitations of MM Approach- Leverage irrelevance theory of MM is valid if perfect market assumption is correct but actually it is not so. Firms are able to pay taxes and investors also pay taxes. Bankruptcy cost can be very high. Managers have their own preference of a type of finance. Managers are better informed than shareholders i.e. asymmetry of information exists. Personal leverage is not possible to be substitute of corporate leverage. 100% payout ratio is not possible normally. Analysis of Companies TVS Motors: TVS Motors hold one of the top ten two wheeler manufacturer and number three positions in Indian market, with turnover of $1 billion in 2008-2009 and is the flagship division of TVS group which is of worth $4 billion. TVS Motors manufactures wide range of two wheelers ranging from two wheelers for domestic use to two wheelers for racing. Manufacturing units are located at Housar and Mysore Himachal Pradesh Indonesia Has production capacity of 2.5 million units per year with strength in design and development TVS has recently launched 7 new products. Till now TVS has sold more than 15 million two wheelers and has employed 40000. TVS motor is the only Indian company to win Deming award for quality control in 2002. TVS Network spans over 48 countries. Particulars 2007-08 (in crores) 2008-09(in crores) OPERATING INCOME 45.31 121.08 INTEREST ON DEBT( I) 11.47 64.61 EQUITY EARNING 33.84 56.47 COST OF EQUITY (Ke) 4.13% 4.21% MARKET VALUE OF EQUITY 819.37 1341.33 COST OF DEBT (Kd) 1.72% 7.13% MARKET VALUE OF DEBT 666.34 905.98 VALUE OF FIRM 1485.71 2247.31 COST OF CAPITAL (Ko) 3.05% 5.39% WACC Calculation: For 2007-08 WACC= weke + wdkd We = E/(D+E) Wd = D/(D+E) = 1/(1.84) x 0.413 + 0.84/(1.84) x 0.172 = 0.2284 +0.078 = 3.051% For 2008-2009 WACC= weke + wdkd We = E/(D+E) Wd = D/(D+E) = 1/(2.11) x 4.21 + 1.11/(2.11) x 7.13 =1.995 +3.750 = 5.75% Hero Honda: Hero Honda Motors Limited is largest and most successful two wheeler manufacturers in India and it is India based. Hero Honda was a joint venture between Hero group and Honda of Japan till 2010 when Honda sold its entire stake to Hero. In 2008-09 Hero Honda sold 3.7 million bikes with 12% growth rate and captured 57% of Indian markets share. Hero Honda Splendor is worlds largest selling motorcycle sold more than 1 million units in 2001-03.C:UsersAAdityaDesktopindex.jpg In December 2010, the Board of Directors of the Hero Honda Group have decided to terminate the joint venture between Hero Group of India and Honda of Japan in a phased manner. The Hero Group of India would buy out the 26% stake of the Honda in JV Hero Honda. Under the joint venture Hero Group could not sell into international markets and the termination would mean that Hero Group can exploit global opportunities now. Since last 25 years the Hero Group relied on their Japanese partner Honda for R D for new bike models. So there are concerns that the Hero Group might not be able to sustain the performance of the Joint Venture alone. WACC calculation: For 2007-08 WACC= weke + wdkd We = E/(D+E) Wd = D/(D+E) = 1/(1.07)x34.73%+0.07/(1.07) x 8.33% = 33% For 2008-09 WACC= weke + wdkd We = E/(D+E) Wd = D/(D+E) = 1/(1.04)x32.41%+1.04/(1.04)x10.20% = 31.55% Particulars 2007-08 (in crores) 2008-09 (in crores) OPERATING INCOME 1201.96 1367.77 INTEREST ON DEBT( I) 13.76 13.47 EQUITY EARNING 1188.22 1354.3 COST OF EQUITY (Ke) 34.73% 32.41% MARKET VALUE OF EQUITY 3421.25 4178.65 COST OF DEBT (Kd) 8.33% 10.20% MARKET VALUE OF DEBT 165.18 132.05 VALUE OF F

The Aint-half-bad Tea Cake in Their Eyes Were Watching God Essay examp

The Ain't-half-bad Tea Cake in Their Eyes Were Watching God   Ã‚  Ã‚   Hurston did not design her novel, Their Eyes Were Watching God with the intent of creating a protagonist figure in Tea Cake Woods.   Hurston’s characters just naturally fit into the roles and personalities that African American women have been socialized to expect and accept from black men. The good over the bad; turn the other cheek; don't let it get you down. Forever taught that the road ain't gonna be easy and that a ain't-half-bad man is better than no man, African American women have been instilled with the belief that abuse, bitterness, and sadness can be ignored if there is something else to focus that energy on. In Janie's case, we are moved to accept Tea Cake, who is at times abusive, because of the way he makes Janie feel - young and happy. I first read the novel during my Junior year of high school, during which time our main focus was merely to include African American authors in the canon, not to search their writings for their social and political implications. For this reason, I left my first reading of Hurston's novel with glazed-over eyes and a lifelong quest, if not an obsession, for a man like Tea Cake. After another reading Their Eyes Were Watching God, I was shocked to discover just how much I had forgotten. How easily the details of Janie's first two husbands, Logan Killicks and Jody Starks, had escaped me. How willing I was to forget Tea Cake's abusive, indulgent ways in order to leave his reputation intact--in order to still love him when Janie was forced to take his life. After our class discussion, I became more and more disturbed by my ability to forgive and forget the first time around. Heartless slaps become love taps and petty ... ...rn Literary Journal 29.2 (Spring 1997): 45-61. Hurston, Zora Neale. Their Eyes Were Watching God (1937). : Urbana, Ill.: U of Illinois P, 1937. Interpretations: Zora Neale Hurston's Their Eyes Were Watching God. Ed. Harold Bloom. New York: Chelsea House Publishers, 1987. Kayano, Yoshiko. "Burden, Escape, and Nature's Role: A Study of Janie's Development in Their Eyes Were Watching God." Publications of the Mississippi Philological Association (1998): 36-44. (ILL – not yet received) Kubitschek, Missy Dehn. " ‘Tuh de Horizon and Back': The Female Quest in Their Eyes Were Watching God.† Modern Critical Pondrom, Cyrena N. "The Role of Myth in Hurston's Their Eyes Were Watching God." American Literature 58.2 (May 1986): 181-202. Williams, Shirley Anne. Forward. Their Eyes Were Watching God. By Zora Neale Hurston. New York: Bantam-Dell, 1937. xv.

An Analysis of The Other in All of Us, As Evoked by E.R. Burroughs Tar

An Analysis of The Other in All of Us, As Evoked by E.R. Burroughs' Tarzan Human nature is one of self-awareness. Because of that awareness, it is necessary for us to define ourselves by looking at the world around us and deciding what groups we fall into, and what groups we do not. Those groups we feel a part of become a safe haven, and those groups we feel separated from are seen as foreign, exotic, dangerous, or even subhuman. â€Å"The Other† must exist for human beings to define themselves individually. Our recognition of our differences in relation to others gives us our humanity and our individuality. But our curiosity about The Other still remains. Edgar Rice Burroughs’ novel, Tarzan, is a discourse on our fascination with otherness: our reactions to â€Å"the other,† and our desire to discover how the other sees us. Burroughs’ has structured the novel so that readers are forced out of their traditional roles, taking on those of The Other. In so doing, readers see things about themselves that were invis ible to their individual selves, but obvious to outsiders. Burroughs avoids using this technique to reveal any great truths about society, choosing rather to entertain and amuse, but through entertaining his readers, he cannot help but give them a vehicle for rediscovering themselves. In Tarzan, there are two main kinds of â€Å"other,† two worlds, juxtaposed. Tarzan and his jungle constitute one world; Jane and â€Å"civilization† constitute another. Orbiting these two main worlds, are several moons, such as the Mbonga village and the mutineers. Tarzan might even be considered a moon, since there is no one like him, and he belongs to no group but his own. Tarzan’s jungle world would likely be foreign to most rea... ...girl, but found a new sense of self and identity, as does the reader. Burroughs has taken the readers on a journey away from themselves and into a place they could never go alone. He takes them outside of themselves, away from all that is safe and predictable, and gives them a chance to be reborn as an â€Å"other.† And in remaking the reader into an â€Å"other,† the reader is naturally given the opportunity to see society, and perhaps even his own little corner of society, through new eyes. He warns the reader to remember the feelings evoked by Tarzan and to be true to his new self. It is not only the places or events described in Tarzan that make it so enduringly entertaining; it is the chance to see our own lives as something unique, unusual, and significant. Works Cited: Burroughs, Edgar Rice. Tarzan: The Adventures of Lord Greystoke. Ballantine Books, 1972.

Symbolism in A Doll’s House Essay examples -- Literary Elements

Henrik Ibsen’s â€Å"A Doll’s House† is a controversial play focusing on the marriage of Nora and Torvald Helmer. The play is filled with symbols that represent abstract ideas and concepts. These symbols effectively illustrate the inner conflicts that are going on between the characters. Henrik Ibsen’s use of symbolism such as the Christmas tree, the locked mailbox, the Tarantella, Dr. Rank’s calling cards, and the letters allows him to give a powerful portrayal to symbolize aspects of characters and their relationship to each other. The Christmas tree in itself is symbolic and it means the play takes place during Christmastime. Ibsen uses Christmas tree to mainly construct the character of Nora. The Christmas tree symbolizes the feelings of Nora. At the start of the play, Nora enters the room carelessly and her mood is festive. The Christmas tree, a festive object used for decorative purposes, represents the function of Nora in her household who is pleasing to look and who adds the charm to their home. Nora dresses the tree just as Torvald dresses her up for the Stenborgs’ party. Like other married women during the period, Nora is simply decorative and is not allowed to make familial decisions. Nora instructs the housemaid, â€Å"Hide the Christmas tree carefully, Helen. Be sure the children do not see it till this evening, when it is dressed† (Ibsen 793), the same as when she tells Torvald that no one can see her in her dress until the evening of the dance. The Christmas tree also imitates th e psychological state of Nora when it is described to be â€Å"†¦stripped of its ornaments and with burnt-down candle-ends on its disheveled branches† (Ibsen 812). This describes Nora when she receives the bad news from Krogstad; as a result her min... ...her family. The analysis argues the use of symbolism as it applies to the aspects of the characters and their relationships. Henrik Ibsen’s extensive use of symbols is applied to capture the reader’s attention. Symbols like the Christmas tree, the locked mailbox, the Tarantella, Dr. Rank’s calling cards, and the letters add a delicate meaning to the characters and help convey ideas and themes throughout the play. Work Cited Ibsen, Henrik. â€Å"A Doll’s House.† Literature for Composition. Ed. Sylvan Barnet, William Burto, and William E. Cain. 9th Ed. New York: Longman, 2010. 792-841. Print. â€Å"La Tarantella.† 10 Apr 2010. Streetswing.com. 20 Mar 2011. http://Streetswing.com/histmain/z3tartla.htm. SparkNotes Editors. â€Å"SparkNote on A Doll’s House†. SparkNotes LLC. 2002. SparkNotes.com. 20 Mar 2011. http://Sparknotes.com/lit/dollhouse/themes.html.

Plastic Pink Flamingo Essay

In â€Å"The Plastic Pink Flamingo: A Natural History.† author Jennifer Price explains that the lifeless bird symbolizes Americans are lead on by the media and will purchase just about anything to prove their wealthiness. In Price’s view the United States is consumed with flashy displays of wealth. Americans will partake in anything that is bold or bright. In the first half of the essay, the author discusses the fact that the new popular item on the market is a plastic flamingo, which represents â€Å"wealth and pizzazz.† Price’s blunt sentence â€Å"But no matter†, after explaining that flamingos had been hunted to extinction in Florida shows, in reality, she is ashamed and angered by this fact, which represents how our old, poor society has died. Even worse she explains how businesses succeeded off of selling flamingo products or naming businesses after flamingos. Flamingos â€Å"stand out† in one’s lawn which shows â€Å"extravagance and â€Å"boldness† in analogizing for the generation raised in the Depression. People spent money on a useless plastic bird – a foolish action none would have thought to do before this. Jennifer Price use of suc h emphatic words let readers imagine strong or rather bold nature or American culture. The 1950s was definitely a time of change for many Americans. These people had overcome a great hardship and were ready for a new start. Jennifer Price relates in her essay that American culture was very strong and powerful at the time. Price makes Americans of the 1950s seem frivolous Price continues this effect by further explaining Americans’ obsession with the color pink, describing their sense of style has grown bolder and noticeable. Americans â€Å"brighten† things to make them attractive and to make profits. Price gives examples of household items that come in all shades of pink, including Elvis Presley’s pink Cadillac. The author begins the last paragraph with yet another sarcastic remark, by asking â€Å"Why, after all, call the birds pink flamingos as if they could be blue or green?† because this statement was toward the end of the essay some may think that Price is making a final statement. She supports her idea by further explaining that the color of the plastic flamingo was not even  accurate to that of the real flamingos. Price, it can be assumed, dislikes society carefree attitude shown through how Americans have not respected the flamingo, as Egyptians, early Christians, Mexicans, and Caribbean people did. Perhaps we do not think of the pink flamingo today when the word â€Å"wealth† pops in mind, but the need to show is still with us. It may be the cell phones flashed by every teenager or even the designer clothes worn by one. Jennifer Price has criticized American’s culture and belief. Regardless, Price explains how she views today’s society through the examp le of the pink plastic flamingo.

Forty Studies That Changed Psychology Essay

Something burning(prenominal) in psychology is to differentiate amongst what is considered principle and freakish. Psychologists need to do this to regulate what to diagnose as a psychogenic illness, and the treatment for this moral illness. Unfortunately, for every unrivaled acceptd, it is not etern anyy easy to discern between what is normal behavior, sometimes c every last(predicate) in all in alled effective psychological public presentation, and abnormal behavior, which could possibly be the result of a psychological disorder. To help determine between, psychologists using up a few decisive ingredients. This includes the context in which some wizard observes the behavior.In congener to context, it means that the situation matters because in superstar situation a behavior whitethorn be normal, but not inescapably in all situations. Another factor is the persistence of the behavior or how often, oer time, the behavior continues or occurs. How far, from the accept ed complaisant norm, the behavior deviates is also an important factor. Whether or not someone is aw ar of his or her own psychological difficulties is inhering distress. This subjective distress is often a great help to psychogenic health professionals in making a psychological diagnosis.When a soulfulness gets it impossible to be meet with demeanor due to psychological problems, this is considered a psychological handicap. Effect on functioning could be considered the bottom line in psychological diagnosis the extent to which the behaviors in question interfere with a persons ability to live the life that he or she desires and that society provide accept. These symptoms and characteristics of mental illness all involve judgments on the part of psychologists, psychiatrists, and others. So these mental health professionals still need to serve to important questions.Are mental health professionals truly able to distinguish between the mentally ill and the mentally sizabl e? In addition, what are the consequences of mistakes? These are the questions turn to by David Rosenhan in his study. Rosenhan questioned whether the characteristics that lead to psychological diagnoses reside in the tolerants themselves or in the in which the people diagnosis find the patients. He reasoned that if the training mental health professionals have received for diagnosing mental illness are adequate, thus those professionals should be able to distinguish correctly.Rosenhan proposed that one modality to test mental health professionals ability to correctly categorize would be to admit normal people to psychiatrical facilities to see if they would be categorized as healthy. If these shammer patients behaved in the infirmary as they would on the outside, and if they were not discovered to be healthy/normal, this would be evidence that diagnoses of the mentally ill are tied much to the situation than to the patient. Rosenhan recruited eight subjects to serve as pseu do patients.The subjects mission was to try to be admitted to twelve different psychological infirmarys. all in all of the pseudo patients followed the same instructions. They called the hospital and stick an appointment. Upon arrival at the hospital, they complained of hearing voices that express specific things. Other than this one thing, all subjects acted completely normal and gave very sincere information to the interviewer other than personal information. totally the subjects were admitted to the various hospitals, and all but one was admitted with a diagnosis of schizophrenia. one time deep down the hospital, the pseudo patients simply behaved normally. The subjects had no idea of when they would be allowed to leave the hospital. It was up to them to step-up their release by convincing the hospital staff that they were healthy enough to be discharged. All of the subjects took notes of their experiences. At first, they tried to suppress this activity, but soon it was clear to all that this secrecy was unnecessary, since this was seen as just another(prenominal) symptom of their illness.They all wanted to be released as soon as possible, so they behaved as model patients, cooperating with the staff and judge all medications (which were not swallowed, but ruby down the toilet). The key finding in this study was that not one of the pseudo patients was descryed by anyone on the hospital staff. When they were released, their mental health status was save in their files as schizophrenia in remission. There were other interesting findings and observations. date the hospitals staff of doctors, nurses, and attendants failed to detect the subjects, the other patients could not be so easily fooled. Contacts between the patients and the staff were tokenish and often bizarre. One of the tests made by the pseudo patients in the study was to fire various staff members and attempt to make verbal contact by request common, normal questions. Rosenhans stu dy demo that normal people crappernot be opulent from the mentally ill in a hospital setting.According to Rosenhan, this is because of the overwhelming settle of the psychiatric hospital setting on the staffs judgment of the mortals behavior. Once patients are admitted to much(prenominal) a facility, there is a beefed-up tendency for them to be viewed in ways that remove all individuality. The attitude created is that if they are there, then they must be crazy. more important is what Rosenhan refers to as the stickiness of the dog. That is, when a patient is scoreed as schizophrenic, it becomes his or her commutation characteristic or personality trait.From the moment, the label is given and the staff knows it, they perceive all of the patients behavior as stemming from that label. The hospital staff tended to ignore the situational pressures on patients and saw only the behavior pertinent to the pathological traits assigned to the patients. Remember that all the subject s gave honest accounts of their pasts and families. The results pointed out two crucial factors. First, it appeared that the sane could not be autocratic from the insane in mental hospital settings.Second, Rosenhan demonstrated the danger of diagnostic labels. Once a person is labeled as, having a certain psychological condition that label overcomes all of his or her other characteristics. The worst part of this sort of treatment is that it can become self-confirming. That is, if a person is enured in a certain way consistently over time, he or she may begin to behave that way. knocked out(p) of Rosenhans work grew greater carefulness in diagnostic procedures and increased awareness of the dangers of applying labels to patients.

Psychoanalytic Perspective on Personality Development

L & D Assignment 1: Psychoanalytic Perspective on Personality Development Submitted By Pravin Bang Submitted To, Prof. Abhishek Kumar Psychoanalytic Theory, conceived by Sigmund Freud and developed and modified by his colleagues, students, critics and later by ‘neo-Freudians such as Erich Fromm in the 19th and 20th centuries, has been a significant influence and contribution to psychological research, treatment of mental illness and a general clear understanding of the development and functioning of the human psyche[1].Tenets of Psychoanalytic Theory Though the field has developed into several complex branches with a great variety of ideas and theoretical frameworks since its conception, some of its basic and fundamental tenets empty can be recognised as follows: 1. )Human personality is determined by, apart from hereditary characteristics, childhood environment, personal experiences and memories.It is not a science., is not reached the conscious mind. 3. )The above concept was later evolved into the idea of the Id, Ego and Super Ego, by Freud. Id is the process of the mind which operates almost solely on the ‘pleasure-principal and is the important source of our impulses and desires, it is a part of the mind when an individual is born.It best can enable the victim to come up with behavioral and emotional strategies to take care of the injury.

)Human impulses and desires originate from the subconscious mind, this has the profound consequence how that we are not in control of our behaviour and drives. The main human instinctual drives are sex and aggression.Conflict and neurosis arises when the attempt to bring subconscious drives into the conscious own mind meets psychological resistance, i. e.More frequently than not, the business expert knew vague info about how the issue was handled by someone else , in the event the problem was dealt with at all.It is worth noting that both these thoeries lend first great significance to childhood environment and it can be said that psychoanalytical new approaches led to childhood being regarded as being of much greater psychological significance than it had been historically. Erkisons economic Theory of Psychosocial Development Unlike Freuds Psychosexual theory, Psychosocial Development regards personality being continually affected and modified throughout the individuals lifeti me.Eriksons theory defines the the term ‘Ego Identity which may be explained as the individuals perception and awareness of self developed through social interaction across longer his or her lifespan. Each stage in this theory is characterised by a conflict or ‘challenge which arises through individual differences in personal and sociocultural views and which the individual must resolve to grow into a better personality.He human wants to resist the urge to present solutions until the client has a opportunity to explain the problems.

)Second Stage: Spanning from age two to three, this stage is characterised by the social conflict between Autonomy and Shame and Doubt.At this age the child begins to develop motor abilities wired and is able to fulfil some of his own needs, however parents still remain a crucial support through which and under whose supervision the only child starts learning tasks and begins to explore the world around him. Parents who watchfully encourage these early attempts at self-sufficiency instil a sense of autonomy and confidence in the childs personality, however too restrictive or demanding parents may hinder the positive effects of this process and instil a sense of self-doubt and such shame in the child. .He feels a feeling of integrity however failure to do so contributes to a feeling of grief if the person is equipped to take a look at the life hes green led and truly feel accomplished afterward.d. )Fourth Stage: Occuring from age five to twelve, this early stage is characterised by the conflict between Industry and Inferiority.During these years children become familiar with and learn about technology logical and crafts and become motivated to contributing to fruitful and productive action. During this stage the child develops a sense or cooperation and willingness to â€Å"do it right†.Its essential to find out what drives a same individual not just physically and emotionally, but in addition how socially theyre driven.

Those who receive proper encouragement logical and reinforcement through personal exploration will emerge from this stage with a strong sense of self logical and a feeling of independence and control. Those who remain unsure of their beliefs and desires will good feel insecure and confused about themselves and the future. f. )Sixth Stage: Covering young adulthood from age 20 to 24, this stage is characterised by the conflict between Intimacy and Isolation.Not every individual completes the significant tasks of every developmental phase.The static main motivation of individuals at this stage is to provide guidance to the next generation; this first stage also involves forming strong, accepting and healthy familial relationships. Failure at this stage leads to a feeling of stagnation. h. )Eigth Stage: The final developmental stage, this stage is characterised by the conflict between Integrity and Despair.Folks best can be treated if theyre not treated.

, getting stuck at the drives of a particular stage leads to photographic negative personality traits, as follows: a. Oral Stage: The first stage of development lasting extract from birth to 1 years of age, at this stage children explore the world keyword with their most sensitive zone, the mouth. Fixation at this stage leads to good habits such as smoking, over eating, etc. b.Conversely, they may be cured but not treated.d. )Latency Stage: Lasts from six years of age until puberty, successful resolution of this stage leads to development of social and people skills and ability to build and maintain relationships. e. )Genital Stage: Final developmental stage, lasts from puberty to most of the adult life, successful resolution leads to psychological independence from parents.Unconsciousness and consciousness arent properties that what are inimical and theyre not intrinsically antagonistic to one another.

â€Å"The problem of ego identity†. Journal of the American Psychoanalytic Association 4: 56–121. 3. ) Marcia, James E.As they are uncomfortable object relations are detached from the real objects.Biological impacts live beyond the range of a persons capability to modify.Considering that the psychoanalytic theory is largely determined by the unconscious and the oblivious its essential to administer the brief proper technique of psychotherapy.