Literature Introduction Essay

What Is Literature and Why Do We Study It? †¢ Literature is – Composition that tells a story, dramatizes a situation, expresses emotions, analyzes and advocates ideas – Helps us grow personally and intellectually – Provides an objective base for knowledge and understanding – Shapes our goals and values by clarifying our own identities, both positively and negatively – Literature makes us human. Genres †¢ Four genres of literature: – Prose fiction †¢ Myths, parables, romances, novels, short stories – Poetry †¢ Open form and closed form †¢ Relies on imagery, figurative language, sound – Drama. †¢ Made up of dialogue and set direction †¢ Designed to be performed – Nonfiction prose †¢ News reports, feature articles, essays, editorials, textbooks, historical and biographical works Guidelines for Reading Literature †¢ First reading – Determine what is happening, where, what, who is involved, major characters – Make a record of your reactions and responses – Describe characterizations, events, techniques and ideas †¢ Second reading – Trace developing patterns – Write expanded notes about characters, situations, actions – Write paragraph describing your reactions and thoughts – Write down questions that arise as you read (in the margins) Writing a Precis †¢ Precis = a concise summary = paraphrase – Retell the highlights so reader will know main sections – Only essential details – they must be correct and accurate – Must be an original essay, written in your own words – Be sure to introduce the title and author – Avoid judgments – Use present tense when retelling a story Elements of Fiction †¢ Essence of fiction = narration (the telling) †¢ Elements of fiction = verisimilitude and donnee – Verisimilitude = realism †¢ Must be compelling enough that the reader can â€Å"suspend disbelief† – Donnee = premise †¢ Something given by which you can judge the realism = ground rules. †¢ Sources of elements – Character, plot, structure, theme, symbolism, style, point of view, tone, irony Plot and Structure †¢ Plot = reflection of motivation and causation – No plot = The king died and then the queen died. – Plot = The king died, and then the queen died of grief. †¢ Conflict = controlling impulse in a connected pattern of causes and effects – Opposition of two or more people (e. g. , hatred, envy, anger, argument, avoidance, gossip, lies, fighting, etc. ) †¢ Dilemma = Conflict within or for one person – Conflict is a major element of plot because it arouses curiosity, causes. doubt, creates tension, produces interest – No tension = no interest Structure of Fiction †¢ Structure defines the layout of the work Crisis Complication Climax Exposition Resolution (denouement) Another structural element used sometimes = Flashback Characters in Fiction †¢ Character = verbal representation of a human being – Rounded = lifelike, full, dynamic, reader can predict future behavior because of an understanding of the personality – Protagonist = the hero or heroine, main person in the story, person on the quest, etc. – Antagonist = the person causing the conflict, in opposition to the protagonist, the obstacle, etc. – Flat = no growth, static – Stock = representative of a group or class (stereotypical) – Characters disclosed through †¢ †¢ †¢ †¢ †¢ Actions Descriptions, both personal and environmental Dramatic statements and thoughts Statements by other characters Statements by the author speaking as storyteller, or observer – Characters need to have verisimilitude, be probable or plausible Point of View †¢ Refers to speaker, narrator, persona or voice created by the author to tell the story †¢ Point of view depends on two factors: – Physical situation of the narrator as an observer – Speaker’s intellectual and emotional position †¢ †¢ †¢ †¢ First person = I, we Second person = You (uncommon) Third person = He, she, they (most common) Point of view may be: – Dramatic/objective = strictly reporting – Omniscient = all-knowing – Limited omniscient = some insight Setting †¢ Setting = a work’s natural, manufactured, political, cultural and temporal environment, including everything that characters know and own (place, time, objects) †¢ Major purpose = to establish realism or verisimilitude, and to organize a story †¢ Setting helps create atmosphere or mood †¢ Setting may reinforce characters and theme, in order to establish expectations that are the opposite of what occurs = irony. Tone and Style †¢ Tone = methods by which writers and speakers reveal attitudes or feelings †¢ Style = ways in which writers assemble words to tell the story, to develop an argument, dramatize the play, compose the poem – Choice of words in the service of content †¢ Essential aspect of style is diction – Formal = standard or elegant words – Neutral = everyday standard vocabulary – Informal = colloquial, substandard language, slang Tone and Style (cont’d) †¢ Language may be: – – – – Specific = images General = broad classes Concrete = qualities of immediate perception Abstract = broader, less palpable qualities †¢ Denotation = word meanings †¢ Connotation = word suggestions †¢ Verbal irony = contradictory statements – One thing said, opposite is meant – Irony = satire, parody, sarcasm, double entendre †¢ Understatement = does not fully describe the importance of a situation – deliberately †¢ Hyperbole (overstatement) = words far in excess of the situation Symbolism and Allegory †¢ Symbolism and allegory are modes that expand meaning †¢ Symbol creates a direct, meaningful equation between: – A specific object, scene, character, or action – Ideas, values, persons or ways of life †¢ Symbols may be: – Cultural (universal) = known by most literate people (e. g. , white dove, color black) – Contextual (authorial) = private, created by the author Symbolism and Allegory (cont’d) †¢ Allegory is a symbol = complete and self-sufficient narrative (e. g. , â€Å"Young Goodman Brown†) †¢ Fable = stories about animals that possess human traits (e. g. , Aesop’s Fables) †¢ Parable = allegory with moral or religious bent (e.g. , Biblical stories) †¢ Myth = story that embodies and codifies religious, philosophical and cultural values of the civilization in which it is composed (e. g. , George Washington chopping down the cherry tree) †¢ Allusion = the use of other culturally well=known works from the Bible, Greek and Roman mythology, famous art, etc. Idea or Theme †¢ Idea = results of general and abstract thinking †¢ Literature embodies values along with ideas – In literature, ideas relate to meaning, interpretation, explanation and significance – Ideas are vital to an understanding and appreciation of literature. †¢ Ideas are not as obvious as character or setting. It is important to consider the meaning of what you’ve read and then develop an explanatory and comprehensive assertion. †¢ Theme can be found in any of these: – – – – – Direct statements by the authorial voice Direct statements by a first-person speaker Dramatic statements by characters Figurative language, characters who stand for ideas The work itself.

Proper Way to Live by Confucianism and Taoism Essay

Proper Way to Live by Confucianism and Taoism Introduction             Confucianism and Taoism are ideologies that originated from China. These two ideologies have become very influencing though they have been known to be different in various approaches. The analysis of this paper will include introduction of the main ideologies of Confucianism and Taoism, and it is also providing a comparison between the two ideologies. Confucianism             It is a word used for the ideologies of Confucius, a scholar that existed at the time of warring states. The keyword of Confucianism generally is the concept of humanism (Ritzer 37). Among the five virtues of Confucianism are Humanism, Righteousness, Principle, Knowledge, and Integrity. Taoism             He was a scholar who like the others lived in the period of the warring states, and had a different approach in his ideologies. Tao is the main concept of Taoism, meaning â€Å"way.† It is described as a spontaneous, natural, external way of things, as well as the way they pursue their course (Ritzer 38). The argument of many philosophies is that in case people are going to let everything in life to flow in their own way, then everything would definitely work out, like in the starts of his argument in this case it affirms the word â€Å"refrain.†             While Confucianism has emphasized more on humans and their capabilities, Taoism has emphasized nature and equality. According to Confucius when an individual has faults, he should not have fear in abandoning them. Confucianism recognizes the need to be strong by shunning away any set back from other people who do not recognize the ability that you possess as portrayed by the statement â€Å"Do not grieve when people fail to recognize your ability, Grieve for your lack of ability.† Never listen or be bothered with what they think about your ability but always rise-up to the occasion and not grieve. These concepts are what Confucius was using in bringing order and peace to society and he was considered successful in doing so. Based on the facts that his argument on life emphasizes more on the importance of human relations, it is still influential.             Confucius recognizes what a noble mind aspires to â€Å"slow to speak and quick to act,† in the same way the ancient people spoke little, similarly Lao Tzu view that life is supposed to be with little quarrels in order to avoid quarrelling with other people. Confucius viewed life to be all about loyalty, ready to change whenever wrong, always standing by your words, as well as choosing only the kindred as your friends.             Taoism has emphasized humbleness and gratefulness throughout life, â€Å"†¦have little and gain; Have much and be confused.† Taoism also has considered humbleness in life in another perspective; standing by your own words as a way of being humble. The philosopher describes wise men as setting example to all and in order for that to happen a wise man must always stand by his own word, a character that can be desired and be emulated â€Å"†¦.And set an example to all†¦.They shine forth.†             Taoism view about life has been considered as perhaps too mystical. It can be criticized to be just an ideology that is trying to escape reality. Moreover, as much as Taoism could give a skeptical view, it failed to provide a realistic solution about life.             However, Confucius as a philosophy has a deeper sense of life with realistic solution, especially regarding the opinion that other people have about some other people. According to Confucius, people should not just be comfortable with the way they have been described and give title whether positive or negative. When they talk good about other people, do not just take the complement and remain comfortable, investigate and find out the reason behind being good to them. This is always more serious when they hate you. Since there are many reasons behind somebody holding an opinion about another person, it is indeed important to investigate more why other people have decided to have that opinion, this is because there may be genuine reason behind doing so which may just be a misunderstanding of what was wrongly perceived.             According to Confucius just like Taoism in some aspects every individual is required to act with virtue in every social matters, family, community, state, and kingdom, mainly to ensure order and unity. Though these two philosophies may have taken different philosophies, they have in one way or the other succeeded in shaping of the society in terms of their way of life and their approach to life. Realistic or not realistic their ideologies stand to stay and the perceiving mind is what should embrace and accept the reality. Conclusion             Following the rise of individualism and freedom, the modern society always forgets their manners and patience. Most of the people tend to be selfish, rude, and having over high esteem about themselves. Just as emphasized by Confucius in his time, people should learn to be calm and respectful in life. Also Taoism has pointed out the need to learn being free, empty our minds, as well as clear our souls. This is because nobody in this world that do not need peace of minds. References Ritzer, George. Contemporary Sociological Theory and Its Classical Roots: The Basics. McGraw-Hill, 2009. 37–38. Print. Source document

Representation and Exploration of Gender Roles in Comrades, Almost a Term Paper - 1

Representation and Exploration of Gender Roles in Comrades, Almost a Love Story and Crouching Tiger, Hidden Dragon Films - Term Paper Example Compared to the early styles of Chinese filmmaking the issues of depiction, especially reflection of depicting gender roles in films have undergone a drastic change. Films like Comrades, Almost a Love Story, and Crouching Tiger, Hidden Dragon are brilliant examples that not only reflect the impact of modernist trends in the art of filmmaking but also provided considerable focus on gender roles, contending the traditional approach. The films, Comrades, Almost a Love Story, and Crouching Tiger, Hidden Dragon, though have dealt with a different storyline, thematic approaches and cultural situation, however, the role of women as reflected in both these films, can be regarded as a brave shift from the traditional approaches. In each of the films, women have played interesting as well as equally commanding parts compared to their male counterparts in the context of developing storylines. The film, Comrades, Almost a Love Story while provides a sufficient reflection over development of Chin a in terms of modernism and neo-Marxian perspective and consequently provides a detailed impression of the contemporary socio-political and economic situation of the nation and how the characters, especially women are responding to such metamorphosis, on the other hand, Crouching Tiger, Hidden Dragon develops its thematic approach over socio-cultural situation of early 18th century China. While Crouching Tiger, Hidden Dragon can be regarded as a sincere attempt to reinterpret the 18th century social history of China according to the principles of modernist context, however, special emphasis on roles of women as emergence of â€Å"women warriors† can definitely be regarded as a bold initiative that emphasizes the theme of contending conventional refection of gender roles in films in terms of radical modernism.  

Understanding enron Assignment Example | Topics and Well Written Essays - 750 words

Understanding enron - Assignment Example Enron is a unique data point which cannot be considered a trend. Another perspective suggests Enron as an example of systematic governance failure. Openly roiling the market, Enron has established new demand among investors for transparency. Market has discovered that professional staff like gatekeepers cannot be trusted for handling the financial data. Enron demonstrates gatekeeper failure. Gatekeepers provide services of verification and certification to the investors. Attorneys are more of transaction engineers than reputational intermediaries, though they can also be included in the category of gatekeepers. Gatekeepers are known as valuable sources of information because of their tendency to provide honest assessment, though gatekeepers derive their importance from pledging a reputational capital, that is too dear to them to sacrifice for a little fee. However, heavy gains optimize a gatekeeper’s tendency to comply in managerial fraud. Enron’s gatekeeper let the man agers do fraud. The status of gatekeepers is changing. Arthur Andersen engaged in several security frauds. The number of earning restatements and the amounts involved increased by the 1990’s. Most securities analysts kept recommendations on the stock of Enron till its bankruptcy filing. Analysts are also reputational intermediaries. The ration of buy to sell kept increasing over the years in the 1990’s. Something made the gatekeepers compromise the objectivity and independence. Enron provides an example of the collective failure of gatekeepers, including the auditors, the analysts, and the debt rating agencies. Two explanations can be laid for the ignorance of the massive fraud by these watchdogs; the economic general deterrence story and the psychological bubble story. 1990’s saw a decline in the risk of auditor liability along with an increase in the benefits of acquiescence, which

Answer the questions Case Study Example | Topics and Well Written Essays - 250 words - 1

Answer the questions - Case Study Example Failure to pay taxes by Bill is also essential to this lawsuit. Overstatement of net annual profits by Sam is also fraudulent. Failure to disclose true and fair view information of the restaurant’s net profits creates a fine for Sam. Despite, the accountant disclosing the information on overstatement Bill still goes ahead to complete the sale indicating intention of hiding the improprieties by Sam (Hall, 2012). Sam can claim to have disclosed all information on the annual net profit of the restaurant through the brochure. Sam goes ahead to disclose the unreported cash transactions to Bill. Therefore, Bill is well aware of the nature of business and unpaid taxes. Bill goes ahead to accept and completes the sale. Making a net profit each year of a little less than $25,000 cannot be a basis to justify a breach of contract (Hall, 2012) Sam is liable for a fine for failure to report all transactions to IFS, which is fraudulent. Sam claims on breach of contract is invalid as he is well aware of the state of the restaurant dealings and attempts to cover the fraud (Hall,

Recruitment and Human Resource Management Essay

Recruitment and Human Resource Management - Essay Example The human resource management team then analyses these forms before inviting the qualified candidates for interviewing.   After the selection of the suitable candidate from the interviewees, the procedure of induction follows. Induction is a process that aims at familiarizing an employee with the organization’s processes and the nature of the job. A good induction process should be open and interactive, to make the new employee be acquainted with co-workers easily. The process should also be relevant and specific on the standards and rules that guide the operational framework of an organization. The process should be safe and considerate on the employee’s working conditions.   The period that the induction process takes depends on the size, nature, and standards of the organization and the job. The process, though not formal, is a good way to ensure that an employee blends into the organization comfortably. The employee will first meet and talk with fellow colleague s. This interaction process should be friendly and focused on the experiences of the new colleague. This process should be open to questions, and subsequent discussions on the nature of the organization.  Thereafter, the new employee is introduced to the rules of the organization. Organizational storytelling is a good way of instilling the organization’s principles to the employees (Taylor, 2011). The value of the hospitality industry in the UK is significant to the economic growth of the UK.

MAKE UP SCHOOL POLICY Essay Example | Topics and Well Written Essays - 1500 words

MAKE UP SCHOOL POLICY - Essay Example It should also be noted that behaviour is one of the dominant discourses in schooling (Ball, Maguire and Braun 98). This public, high school, student behaviour policy aims at promoting high standards of behaviour to enhance a secure environment for all, which is orderly and safe. The behaviour policy contains the following elements. ... not use bad language Both students and school staff should respect each other The policy includes the major stakeholders of the school, and this includes; Students Teachers and Other School Staff Parents According to the policy, various stakeholders should perform the following roles as outlined; Principal Ensure that there is a safe and a peaceful atmosphere for both students and staff Implement and monitor this behaviour policy Ensure consistent disciplinary actions for those act contrary to this behaviour policy Teachers and Other Staff Take part in the implementation of the student behaviour policy and instil good behaviour among students Report cases of disruptive behaviour for punishment Students Follow the guidelines provided in the student behaviour policy and comply with directions Demonstrate respect for teachers, colleagues, and other staff, and should not engage in any form of misconduct Parents Offer support to schools during the student behaviour policy implementation T he school rewards and offers acknowledgment certificates to those who encourage good behaviour and discourage unacceptable behaviour. PART II: ARGUMENT IN SUPPORT OF THE PROPOSED SCHOOL POLICY An orderly learning environment is necessary for every school to enhance smooth learning, without interruptions. Student misbehaviour in high schools is a significant cause of learning disruptions. It should be note that student misbehaviour is an international concern. According to (The Guardian par 5), student misbehaviour disrupts lessons in sixty percent of the schools in world. Students enjoy classes where there is no disruption, but this is not always the case for some schools because of student misbehaviour. Student misbehaviour has led to negative consequences in the achievement of

Comparing Literary Works Themes' Research Paper

Comparing Literary Works Themes' - Research Paper Example These articles are How I Met My Husband and The Gift of the Magi by Alice Munro and Henry O respectively. How I Met My Husband is a short story that was written by Alice Munro. Having being published in, the story covers the theme of marriage. As one of the most valued aspects of life, marriage has been extensively covered by many authors who are focused at providing the manner in which a strong family is formed based on the right choice during marriage. How I Met My Husband is a story that involves Edie, a young girl who was employed as a house help for Dr Peebles and his family. The story indicates how Edie meets a pilot known as Chris Watters. Immediately, the two falls in love. As a young girl who is looking for love, Edie first encounter with romance is when she comes close to an airplane view. One of the key aspects that the story is based on is the innocent nature about romance that Edie exhibits. Additionally, the story indicate how despite her younger age, she is significantly proud and is aware of her blossoming womanhood that she aim to use together with Mrs. Peebles’s make ups to attract the attention of Chris Watters. One of the afternoons while Mrs. Peebles is away, Edie plans on how to dress herself and become a sophisticated beauty that Chris could not avoid. Chris on his part notices the beautiful Edie while he was looking for cool water to drink. On the other hand The Gift of the Magi is a romance story which is written by O. Henry. The story is concerned about marriage between Mr. James Dillingham (Jim) and Della who is Jim’s wife. Marriage needs commitments and love and thus it is termed as tricky. Love is tricky and thus the young couples want to buy each other gifts but have little money since it is on Christmas Eve. Gift to make each other happy and strengthen their love and thus each and every individual has to play his or her role to make sure that the lover will appreciate the gift. One

Select a newborn baby you have cared for in the NICU and critically Essay

Select a newborn baby you have cared for in the NICU and critically explore the nursing care and management within the first 6 h - Essay Example aid parents to be sensitive and responsive to their infant’s behaviour and enhance social interactions, confidence, and practical care giving; interventions directed at infants and families with diagnosed developmental delay or chronic illness (Shelton1999, p.118). In terms of limiting sensory overload/deprivation, NICU is perceived as overly stimulating relative to natural uterine environment. Minimizing the effects of the NICU, advocates of this approach suggest minimal handling and reduction of sensory input. The protection from possible hazard such as bright lighting is perceived to minimize the stress response and subsequently promote enhanced stability and tolerance of handling (Phillips 2003, p.84) The stress signals of the autonomic system entail aspects such as bowel strain, cough, sneeze, or yawn, tremor, twitch, or startle, respiratory pause, gasping, or sighing. Stress signals of the motor system encompass aspects such as hyper-flexion, protective manoeuvres, gape face, and fixed and stereotypical postures. Newborn developmental care yield significant outcome improvements indicated by fewer days on the ventilator, shorter hospital stay, early feeding success, a reduction within the number of complications, enhanced neuro-developmental outcomes during the initial eighteen months of life, and enhanced parent/infant bonding (Ricci and Kyle 2009, p.720). Advancements registered in neonatal intensive care have largely enhanced the survival rates of premature infants within the last two decades. It is essential to highlight the non-verbal language of the premature infant signs of stress such as colour changes, change in heart rate, yawning, open and gaping mouth, change in breathing rate and pattern, hiccupping, extended limbs, and squirming. The signs of stability encompass: stable colour, consistent heart rate, regular breathing pattern, hand on face, sucking, smiling, hand to mouth, relaxed tone and posture, and clear sleep states. The newborn p eriod remain distinctively distinguished by the inseparable relationship between a mother and her infant. To facilitate the formation of an attachment to built, infants need to be close to their mothers to prompt their needs and mothers need to be close to respond to them. The process of reciprocity is adaptive as the mother discovers to recognize her infants’ cues, adapt to her behaviours and responses and satisfy the needs of her infant. Parents with an infant in the newborn intensive care unit (NICU) experience numerous feelings of anxiety, depression, stress, and loss of control and they fluctuate between feelings of inclusion and exclusion relayed to the provision of healthcare (Ricci and Kyle 2009, p.721). Nursing interventions that facilitate positive psychosocial outcomes are necessary to minimize parental feelings of stress, loss of control, and anxiety. Mothers of infants requiring exceptional care start their experience parenthood in the unusual and intimidating en vironment of the environment of the

Culturally Responsive Classroom Essay Example | Topics and Well Written Essays - 1750 words

Culturally Responsive Classroom - Essay Example Likewise, this paper seeks to break down and simplify in explaining the key components and concepts of this paradigm to have a better understanding of what cultural responsive pedagogy requires. Initially, it will explain the realities of the situation and identify the players, their key roles to achieve successful cultural responsive pedagogy as well as simple frameworks that will guide any modifications intended for better performance of school and its pupils in the future. Keywords: cultural responsive teaching, cultural responsive pedagogy, achievement potential, multicultural diversity, multidisciplinary education, I. Rationale Behind Cultural Responsive Pedagogy Traditional Education and Its Impact A regular scenario inside a conventional classroom environment would be having a single teacher-facilitator mentoring about 15 or more pupils with the same age range. Traditional education generally adopts the ‘carrot-stick’ method and the ‘one-teaching technique-f its all’. â€Å"The structures, assumptions, substance and operations of conventional educational enterprises are patterned on European American icons†(Gay, 2010, p. 23). Generally, conventional educators ignore things of what students are receptive of like their culture, individuality, basic norms of behavior, body language as well as communication signals. Children are forced to swallow everything taught all in the same manner which eventually ends up provoking student resistance to the learning process. However, not all children fall under the same receptive category so some turns out to be more counter-productive instead. Actually, â€Å"there are many underlying factors of traditional education that contribute to the failure of students in different kinds of achievements in academic, school attendance, personal well being, dropout preventions and avoidance of discipline problems† (Gay, 2010.p.26). The Growing Influx of Multi-Diversified Students "The increa sing diversity in schools, the ongoing demographic changes across the nation and the movement towards globalization dictate that educators should develop a more in-depth understanding of culture if it is intended to bring about true understanding among diverse populations† (Portuondo, et. al, n.d). It was reported that â€Å"in the 34-year period from 1973 to 2007, the percentage of students of color in the U.S. public schools increased from 22% to 55% by the National Center for Education Statistics, 2008.† (Gay 2010, p. xi). That being said, an â€Å"alarming rate of increased low-academic achievers among student of colors, the minority and the mainstream of students† was also detected† (Gay 2010, p. ix) which according to the second generation of social theorists may be attributed to â€Å"cultural deprivation†, a major influencing factor of this outcome† (Gay, 2010, p. ix). II. Understanding the Significance of Cultural Responsive Teaching ( CRT) Cultural Responsi

House of Mirth by Edith Wharton Essay Example for Free

House of Mirth by Edith Wharton Essay The House of Mirth is separated into two books of approximately equal length, with Book I having at least thirty more pages than the other. In the commencement of Book I, the central character, who goes by the name of Lily Bart is twenty-nine years old and gets acquainted with the fact that she is on the threshold of losing her influence to hang about in society by the desirable quality of her looks and charisma alone. She believes that getting married is her only way out. The itinerary of Book I describe Lily’s tribulations in accomplishing this goal. By the end, Lily has continued to exist after an attempted rape which nonetheless hurts her repute and causes her to be unable to find the high regard of Lawrence Selden and is desperately in liability. Book II, commences in Monte Carlo with additional and given up for lost scandal, moves to New York and additional debt. It ends in deficiency, lonesomeness, and an unintentional death that could without difficulty be called a suicide. Similarities The story presented by Edith Wharton is rather tragic. It is about a beautiful, high-spirited woman who is in dire need of getting over the manipulations of others and the extremely stern society around her. The only assets that the central character Lily has are her beauty and charisma. She is well-acquainted with the rules of the upper class New York society of 1905. Lily tells Lawrence that, a girl must [get married] and a man if he chooses†. (Wharton, p. 165) Lily basically is totally dependant on her aunt for her financial expenses and believes that she should get married to a wealthy man as soon as possible. But, as she confesses, she always does the right thing at the wrong time. She is nearly married to about three different men who are pretty wealthy but she is not able to go ahead with it. She is in love with Lawrence, but considering the fact that he is not rich and has to work to make both ends meet, she does not even let herself imagine that she should marry him. She comprehends the susceptibility of her position she does not have any fortune of her own, and for that reason her reputation must be impeccable. The people that she is surrounded by have minds like moral flypaper they can forgive a woman anything but the loss of her good name. Unfortunately, Lilys inherent honesty makes it impossible for her to realize the treachery and desperation around her. She makes some foolish choices: We resist the great temptations, but it is the little ones that eventually pull us down. (The House of Mirth, p. 1). In both the movie and the book, perhaps her only mistake is that she ends up trusting all the wrong people. Because of this we can see in the movie and the novel that her reputation is looked down upon and she ends up owing a great deal of money to a man who misused her trust and made attempts to ruin her reputation. As is said, we witness in the movie that â€Å"by the time she is willing to accept the proposal of businessman Sim Rosedale (Anthony LaPaglia), he is no longer willing to offer her the position of wife, only mistress. Rosedale has a kind heart, and he likes Lily. But he is a businessman with ambitions of being fully accepted into society, and he can see that Lily is damaged goods. Perhaps her very willingness to accept him makes her less appealing† (The House of Mirth, p. 1). Lily realizes the sensitivity of her position in the society and she realizes that nothing she does would be right for her after she has been betrayed by nearly everyone and is shunned aside by her society. She now makes attempts in both the movie and the novel to support herself first as secretary/companion to a vulgar social-climber, then as an internee in a millinery shop. She makes one last exaggerated plea for help from her cousin, and also comprehends a drastic attempt at blackmail, but that is a great temptation she is able to resist. The movie definitely is a great adaptation of the novel written by the author with first-rate performances and extravagant details of that period. Edith Whartons 1905 The House of Mirth, apparently is a novel about early-20th century New York upper classes, and is really an outer-space story, and instinctively at least, the director Terence Davies seems to know it. In order to Whartons book to the display, Davies takes care to get all the accouterments right: the depressively sparkling balls and social gatherings of turn-of-the-century Manhattan society life, the faux-rustic lavishness of the nation state homes of the rich, the odd rules and regulations and subtexts prowling behind the way a woman might trip her delicately gloved hand into that of a man. In Whartons view, and in Davies, it is an ambiance that is hospitable on the exterior but fastened with fatal gas, an accurate arrangement of molecules that looks for and finds and strangles the life out of foreign creatures, like Whartons great conqueror Lily Bart, who need air and brightness and love. It takes one beautiful alien to play Bart. Davies The House of Mirth is not anything like a science-fiction movie, for sure, apart from the way it uses ambiance to communicate a sneaking pastiness of claustrophobia and even danger. What is evident from the first frame, just like it is evident in the beginning of the novel by Wharton, is that Lily is a human being who just does not fit in this world. What is worst is that she herself believes and is convinced with this fact. The deception of the story, nevertheless, is that we are not in actuality sure about the origin of Lily; Whartons wrapping up is that there are no definable monetary, communities or devout divisions that are moderately right for her, and Davies movie, with all its miserable sophistication, incarcerates the real meaning of that peripatetic restiveness. A gorgeously beautiful but spinster woman of twenty-nine with deteriorating prediction, Lily has been raised to accept as true that luxury is exactly what she deserves. Hence, Lily lives further than her means, relying for the most part on the resentful contributions of her elderly aunt, Mrs. Peniston. All the lacking that Lily suffers because she does not have money, she makes up for in behavior of verbal communication and coquetry: she has the ability as well as the charm to turn any encounter into an enticing meeting. Nevertheless her game playing, as Wharton has written and as Anderson plays it, is not entrenched in heartlessness. It is more a particular kind of non-interventionist resourcefulness, such that her possible love interest and a little bit retribution Lawrence Selden are overwhelmed by it. I always like to see what youre doing, he tells her only half-teasingly. Youre such a wonderful spectacle. (Wharton, p. 35) To keep herself buoyant economically, Lily is desperately in need of a husband, but she is disastrous in finding one due to the fact that, deep down, she knows she does not want one. She is most involved with Selden, a legal representative of self-effacing means who lives for books and fine art and a warm fire. But not even Selden is a sanctuary for her considering that he proves himself competent of devastating coldness. And after Lily unsuspectingly puts herself in a negotiative position with a married friend, Gus Trenor, she comes to realize that she will have to make her own money to support herself. The movie presents to us that Whartons book is not an assembling cry for womens expressive and financial self-government. It is far more understated, and a lot less joyful, than that. But the narrative repetitively affirms the worth of that self-determination, exclusively by showing us how tantalizingly it is kept out of poor Lilys reach. The movie incarcerates something of Whartons reticent tenderness and attractive rhythms in the way it sets Lily revolving on her unhurried spiral to calamity. The movie takes a few emancipations with the story, concentrating, for example, two of Whartons innovative characters into one. The movie House of Mirth is a dignified movie, sometimes too much so, moving with the momentum and sprightliness of a dowager aunt and the channel of communication, much of it taken straight from the novel is from time to time stiff and discomfited. But the movie does an unimpeachable job of screening to us, in the first half of the movie, both the mesmerizing comforts and the tediousness of the life Lily desires to, with its seamless drawing rooms and unnaturally effervescent parties. The second half is shadowy and more visually solemn, as Lily thrashes about to keep her existence together. But that pessimism makes it obvious that this less-glamorous continuation is not right for Lily, either. She can be considered an exotic bird, in poor condition for the filth and dirt of the everyday world but far too unexpected to be serving tea to rich, unintelligent gentlepeople. Lily, too contemporary, too fundamental and too beautiful, fits nowhere, in no detailed society, time or place (Zacharek, p. 1). Edith Wharton plots The House of Mirth on a sequence of meetings set in vibrantly distinct social settings. The first communal setting is Lawrence Selden’s residence at the Benedict and the convention is between him and Lily Bart. The second is the Trenors’ country house throughout a week-long party. In the pinnacle, Wharton shows with great power the sexual operation at the heart of the financial dependence of women. In the increasing action, Wharton sets up the rudiments of Lily Bart’s personality by showing her in stroke in a social situation which restrains her choices. In the lessening action, when Lily Bart has been evicted from the society that has prearranged her values, Wharton shows that Lily Bart is not ready to become accustomed to a dissimilar way of life. Lily Bart becomes a disastrous figure; trying with her imperfect moral possessions to live up to her intellect of what is right, even when it means facing impoverishment (Wharton, p. 25). Conclusion In the light of the above discussion we can hereby culminate that the movie and the novel namely The House of Mirth written by Edith Wharton has much in common.

Oedipus Tyrannus through Freuds eyes Essay Example for Free

Oedipus Tyrannus through Freuds eyes Essay Oedipus Tyrannus is deemed as Sophocless magnum opus and is undoubtedly the most famous of all Greek tragedies. Aristotle went to the extent of calling it a perfect play. It was first performed in around 425 b. c. , only just after a plague that had wreaked havoc on Athens, Oedipus Tyrannus was set in Thebes, a city which was also facing the same catastrophe. King Oedipus was informed by the Creon, the brother of Oedipuss wife, Jocasta that the city will remain a sufferer unless and until the slayer of the previous king is convicted. Oedipus promised to discover the killers identity and to prosecute him. Ignorant of the fact that he himself was the murderer, Oedipus unremittingly trailed the truth until he found his own guiltiness and blinded himself so he might never catch the sight of his father in the afterworld. A Freudian analysis of Sophocles Oedipus Rex (the King) would point out that Oedipus truly had an incestuous nature. This was exposed not only by Oedipus marriage to his own mother, by whom he had children, but also by his unreasonable preference for his daughters, Antigone and Ismene. While the attention he showed to his daughters was profound and braced with sexuality, he dismissed his sons as creatures who are able to look after themselves. Although he was unconsciously attracted to his daughters, he also had this fear in his mind that his daughters would become pariah and will be unable to marry. Freud thought that all the men since birth harbor not a natural repugnance to incest, but the contrary which is an instinctive sexual attraction to the mother. He says, â€Å"[The experiences of psychoanalysis] have taught . . that the first sexual impulses of the young are regularly of an incestuous nature† (Totem and Taboo, p. 160). He also emphasized that each male anchorage undecided feelings towards their fathers. But surely I must fear my mothers bed? (Oedipus Tyrannus, line 576) When Oedipus throws this question to his wife Jocasta, he is totally oblivious of the profundity of his words. The Messenger has just informed him about the murder of King Polybos of Corinth, Oedipus’ supposed father. Now free in his mind from the intimidation of Apollo’s foretell that he would kill his father, Oedipus here desires to validate with his wife that, as his hypothetical mother (the queen of Corinth) is still living, he must still look into that for fear that he sleep with her, as the oracle also foretold. But his words touch a more primary issue: Why is the forecast that he will sleep with his mother so horribly threatening and vile? Oedipus is actually calmed and contented about the natural death of his supposed father Polybos, as in his mind this frees him from the concern that he will someday kill his father. Freud had suggested an interesting explanation of the source of the taboos against incest and parent murder. In the primitive civilization, people lived in groups dominated by the most powerful male, the father, who hold a sexual monopoly over the group. When each of his sons grew to an age where he would challenge the fathers supremacy in order to get a part of the action, so to challenge, the fathers forced them to leave the group. After so many sons had been so treated like this, they resolute to cooperate in order to remove from power their father and get hold of the females, their mothers, for themselves. With their collective strength, they killed the fathers. In civilized society, Freud observed, proscription against such crimes go unsaid, but this is not evidence that we no longer harbor such wishes. The conscience of mankind which now appears as an inherited mental force was acquired in connection with the Oedipus complex. However, from Sophocles text, it would seem that Oedipus does everything in his power to avert these two crimes. Freud too examines the play from this vantage point although, under the novel concept of unconscious motivation, moral condemnation gives way. Freud’s perspective added another dimension to previous simplistic disputes as to whether an action was freely willed, and thus subject to moral injunction, or determined by fate. Freudian intentionality implied that there were actions which, though not intended (consciously), nevertheless were compulsive enactments of inner latent wishes (Hamilton 1993, p. 209).

Competition and Integration of Stock Exchanges

Competition and Integration of Stock Exchanges Abstract The increase in competition of stock exchanges, due mainly to the transformation of the securities markets, has led to mergers, technological agreements among existing exchanges, price wars, takeovers, and the creation of new exchanges, even within the same country. Recently, exchanges have also faced competition from quasi-exchanges, which are also known as ECNs. They not only free-ride on the process of listing given that they generally trade only securities listed on other exchanges, but also on the price-discovery process facilitating members of exchanges to direct trade to them. ECNs are increasingly cannibalizing the businesses of the existing stock exchanges. The evolution of new financial instruments, the falling monopoly of banks as a source of direct funding to borrowers and of direct investment for investors, the tremendous improvement in information technology, and a greater financial culture among common people as well as the fluctuations in interest, price, and exchange rate due to the oil crises have caused the increasing importance of securities markets in the financial system. As the capital markets become increasingly globalized, investors have more choices and are demanding better trading facilities, market efficiency and quality from stock exchanges. To meet challenges, exchanges have to accelerate the construction of the market information infrastructure, rivalry among Europes stock exchanges emphasizes more on cooperation of trading technology than anything else. In Asia, the concept of forming a full financial service group within each market is the main consideration. Exchanges have recognized that faced with the challenge to respond commercially to competitors, they needed to become traded companies themselves. The underlying assumption is that, in the long run, only the most efficient exchanges should survive, trading stocks from other European countries and offering the most innovative and competitive financial instruments. Table of Contents (Jump to) I Abstract.. 2 II List of Abbreviations. 5 1. Introduction 6-11 2. Review of Literature 2.1 What is an Exchange. 12-16 2.2 Globalisation of Financial Markets 17-20 2.3 Nature of Competition of Stock Exchanges.. 20-24 2.4 The Effects of Increasing Competition among Stock Exchanges. 24-25 2.5 Revolutionary changes of Technology in the Securities Market.. 26-29 2.6 Integration of Stock Exchanges 29-30 2.7 Theoretical Influences 31-37 3. Methodology 3.1 Aim of the Project. 38 3.2 Objectives of the Project 38 3.3 Why I am Interested in this Topic. 39 3.4 Background 39-40 3.5 The General Approach.. 40-41 3.6 Data Collection.. 41-43 3.7 Criticisms of the Sources 43-44 3.8 Validity.. 44 3.9 Reliability.. 44-45 4. Qualitative Analysis 4.1 Analysis of Industry Dynamics. 46-56 Case Studies 4.2.1 International Exchange- LSE- A Prototype of Horizontal Merger 57-61 4.2.2 Hong Kong Stock Exchange A Typical Model of a Vertical Merger. 62-66 4.3 Implications and Discussion.. 66-69 5.0 Conclusion70-72 Appendices Appendix 1 Interviewees Questions74 Appendix 2 Interview Key Points.. 75-77 Appendix 3 Future Strategies of LSE HKSE. 78-80 Bibliography 81-87 List of Abbreviations ECNs Electronic Communication Networks ISD Investment Service Directive EU European Union iX International Exchange LSE London Stock Exchange DB Deutsche Borse NYSE New York Stock Exchange PSE Philippine Stock Exchange PB Paris Borse SGX Singapore Exchange TSE Tokyo Stock Exchange SEC Securities and Exchange Commission CCASS The Central Clearing and Settlement System HKFE Hong Kong Futures Exchange HKSCC Hong Kong Securities Clearing Company Limited 1. Introduction There are currently about 250 institutions recognized as exchanges in the world, and both individually and collectively they play a critical role in most national economies and also at a global level. They provide cash, futures, options and other forms of derivatives, markets for all major commodities and assets traded in the world. Competition among stock exchanges, both national and international, is a recent phenomenon. Until some decades ago, it was difficult to think of exchanges as firms that produce and sell goods to customers and compete among themselves. Traditionally, exchanges were seen either as public entities or as formally private bodies, deeply regulated by public rules. In both cases, they were often legal monopolist, given the special nature of their activity that very much resembled that of a public good. There was an era when exchanges were natural monopolies (Steil, 1996b), yet nowadays they no longer enjoy a monopoly in the provision of many of their services. When its members owned a monopolistic exchange, it did not have the incentive to maximize its profits because members in charge were prohibited from taking any distribution of profits from the exchange. Exchanges increasingly realize that if they have to compete like firms whose goal is to maximize shareholders wealth, they have to demutualise to turn a member-owned company into a stock company. Exchanges have never been considered as firms, but now they have reformed to become commercially driven corporations. To understand the firms view of an exchange, it is necessary to redefine what an exchange is, what its products are, where its revenues come from and who its customers and suppliers are. Exchanges are special kinds of firms that provide listing, trading and price dissemination services. Direct customers involve listed companies and those, which desire to go public, information providers and intermediaries that trade on the exchange. Intermediaries trade on behalf of both individual and institutional clients who are indirect customers of an exchange. Suppliers are network providers. Listed companies have a dual capacity as suppliers of information and shares for trading. The primary objective of this dissertation is to analyse the competition and integration strategies of stock exchanges like firms. The dissertation focuses on: 1. Industry dynamics of stock exchanges; 2. Evolution of stock exchange mergers; 3. Integration strategies; and 4. Future consolidation trends. Advances in technology have further accelerated the globalization trend. In particular remote access to trading systems, implying that the services offered by stock exchanges can now be accessed from anywhere, including firms having their stocks traded on international exchanges while still being easily accessible to local investors. This type of arrangement is likely to develop a competitive environment, where the most efficient exchanges will eventually win the confidence of investors, traders and companies (Cybo-Ottone, Di Noia and Murgia 2000). The structure of the European stock-exchange environment is changing rapidly. Almost every day, there are new alliances between stock exchanges, stock exchange privatizations, Internet exchanges and electronic exchanges, as well as online brokers, etc. appear in the media. The changes are driven primarily by intensified competition, which is related to the deregulation of stock exchanges, technological progress and the increasing internati onalization of the securities markets. Competition takes the form of existing exchanges and electronic communication networks (ECNs). The increase in competition of stock exchanges, due mainly to the transformation of the securities markets, has led to mergers, technological agreements among existing exchanges, price wars, takeovers, and the creation of new exchanges, even within the same country. Recently, exchanges have also faced competition from quasi-exchanges, which are also known as ECNs. They are parasites on stock exchanges. They not only free-ride on the process of listing given that they generally trade only securities listed on other exchanges, but also on the price-discovery process facilitating members of exchanges to direct trade to them. ECNs are increasingly cannibalizing the businesses of the existing stock exchanges. Mergers have been one of the most probable strategic interactions among stock exchanges. The concept presented here is drawn upon the network externality literature. Exchanges can be regarded as networks in which an increase in the size of the network leads to an exponential increase in the networks value (Shapiro Varian, 1999). In other words, larger networks are more attractive to users than smaller ones. Castells (2000) links a network to its connectedness and consistency. When firms decide on a listing exchange, they choose the one that is connected by the largest number of intermediaries and one that consistently provides the greatest liquidity. In Europe, the pressure for consolidation among stock exchanges has been the arrival of the euro. The full implementation of the Investment Service Directive 1992 (ISD), which allows its members to gain remote access throughout the European Union (EU), further facilitates the financial market integration in the region. The European Securities Forum is promoting the model of horizontal merger. In this model, national exchanges integrate along three functional levels trading, clearing and settlement, and custody. Each market participant can gain access to a range of pan-European services through a single point of entry. The proposed formation of International Exchange (iX) from London Stock Exchange (LSE) and Deutsche BÃ ¶rse (DB) and the recent establishment of Euronext (the merged entity among the exchanges of Paris, Amsterdam and Brussels) are outcomes of this model. An analytical framework will be provided to analyze industry dynamics and integration strategies. The models used include Porters Five Forces Model, Network Society and Ansoffs Product-Market Matrix. These models are utilized to explain how exchanges determined their merger motives and developed integration and consolidation strategies. Given the rapidly evolving nature of the industry, a total of 5 interviews were conducted with members of the London Stock Exchange and Hong Kong Stock Exchange, investment banks/brokerage firms. Primary data sources were based on the interviews. Secondary data sources included academic journals, books, newspapers and working papers. The deliverable is this report, which includes the literature review, findings and discussions, and two case studies. The implementation followed a traditional approach project specification, literature research, fact finding and investigation, case analysis and evaluation, and finally, report writing. The first finding from the interviews is that merger is a clear strategic option for exchanges. This strategy can achieve economies of scale, network externalities, improve profitability and enhance efficiency in the decision-making process and order routing facilities. In particular, a cross-border merger between two exchanges is made possible in Europe with the support of the financial markets harmonization. The second finding is that a merger brings about two patterns of convergence: vertical merger and horizontal merger. The former depicts that exchanges integrate to form a full financial service group offering the trades of a wide variety of financial products such as stocks, options, futures and other derivative products. The latter describes the merger of specialized exchanges, the outcome of which creates compatibility, a concept in that intermediaries trading in one exchange are offered remote access in other member states, with reciprocity and without further requirements. The third finding is that the existence of national regulatory regimes, deeply embedded in their corresponding regulators, constrains further inter-exchange alliance or merger. The ultimate goal to have a supranational regulator that imposes its own standards on the globe is unlikely to happen in the near future. The fourth finding is that the single price and time priority is not an issue in an order-driven market such as Hong Kong Stock Exchange and the London Stock Exchange. In contrast, in a quote-driven mechanism such as Nasdaq, each market maker is itself an execution centre though operating within certain parameters set by the National Association of Securities Dealers (USA). In quote driven or hybrid environments, there creates space for the development of ECNs. The growth of ECNs is gradually threatening to replace quote-driven trading systems. The fifth finding forms an interesting consensus regarding the motives of investors who choose to trade on an ECN. Investors are not able to differentiate the functionalities of a trading system of stock exchange and that of an ECN as long as they can execute their orders at the best possible price. Competition only on price is inadequate for an ECNs survival. They lack the competencies in attracting liquidity and information dissemination. This dissertation is organised as follows: Section 1 defines an exchange as a firm; Section 2 analyses the existing competition and integration of stock exchanges in Asia and in Europe; Section 3 uses Porters Five Forces and network externalities to shape the industry dynamics; then it utilizes Ansoffs Product-Market Matrix to determine the strategic choice of a stock exchange; Section 4 presents the interview framework and cites opinions to analyse the two case studies: London Stock Exchange and the Hong Kong Stock exchange; and Section 5 further develops the findings and links them with the theoretical framework and literature review. 2. Review of the Literature 2.1 What is an Exchange? A stock exchange has two principal functions. The first is the listing of securities. The stock exchange must approve prospectuses for the eligible securities and also administer the statutory information obligations imposed on the issuers. Secondly, the stock exchange is a marketplace for its members to trade the listed securities. Previously, the brokers gathered physically on the floor where the price was fixed by auction. Today, most stock exchanges have introduced electronic trading systems in some form or other, so it is no longer necessary for the brokers to be physically present at the stock exchange. Stock exchanges can be seen as a market, not too much different from the one that fruits and vegetables are traded on. They operate according to the laws of supply and demand and the most successful, whilst having reasonable regulation, will be constantly changing and developing their market operations. Domowitz has given a comprehensive definition, stating: An exchange is a trading system that must: Provide trade execution facilities Provide price information in the form of buy and sell quotations on a regular or continuous basis Engage in price discovery through its trading procedures, rules or mechanisms Have either a formal market-maker structure or a consolidated limit order book or be a single price auction Centralize trading for the purpose of trade execution Have members Exhibit the likelihood, through system rules and/or design, of creating liquidity in the sense that there be entry of buy and sell quotations on a regular basis, such that both buyers and sellers have a reasonable expectation that they can regularly execute their orders at these quotes An exchange is generally described by regulatory authorities as an organization, association, or group of persons that provides a marketplace for exchanging securities between purchasers and sellers. Traditionally, an exchange is owned by members who are also intermediaries. Under a member ownership structure, members did not have the incentive to invest in the exchange infrastructure including technology and trading facilities because returns from these investments could not be distributed to them. The lack of motivation undermined the profitability of an exchange and hence its competitiveness. In addition, intermediaries trading on a monopolistic exchange were subject to higher prices. They passed the increased costs of operations onto their customers. Therefore members were reluctant to vote for an increase in transaction levy. Hansmann (1980) notes that: The nonprofit producer, like its for-profit counterpart, has the capacity to raise priceswithout much fear of customer reprisal; however it lacks the incentive to do so because those in charge are barred from taking home any resulting profits. As time has gone by, exchanges have had to compete in the global market to attract quality companies to list and intermediaries to trade; many of them have converted their member ownership structures into a stock company by means of demutualisation. Under the plan of demutualisation, members are issued shares of the exchange. They become shareholders of the exchange and therefore can be eligible for profit distribution. Since then, exchanges have reformed to become commercially driven corporations whose goal is to maximize shareholders wealth. 2.1.1 Products Stock exchanges cannot only be perceived by the function they fill in an economy, they can also be viewed as a firm, producing a product. The product is the creation of a market in financial instruments, thus leaving the property of the price information produced with the stock exchange. More specifically the products a stock exchange offers encompass: listing, trading, price-information services and clearing settlement, the percentage of which are shown in Table 1. The distribution of revenues from these various offerings shows that the focus lies mostly on listing and trading, as other services are not always part of the offering. Table 1 Fees Europe % N. America % Listing 19.3 32.1 Trading 45.1 39.7 Services 24.4 22.6 Other 11.2 5.7 The firm view focuses on the production and profitability of an exchange. Mulherin et alii (1991) defines a financial exchange not as a market, as it normally is, but as a firm that creates a market which is characterized by the use of financial vehicles. Lee (1998) suggests that a security market be regarded as a firm that produces goods: listing, trading of securities, clearing and settlement services, price information dissemination, and research. In this dissertation, the aspect of the provision of settlement services is omitted because many of the exchanges either dismiss it or do it by a separate entity. The dissertation considers the exchange as a producer of listing and trading services, given that the network externalities effects created by listed companies and intermediaries are the main focus. 2.1.2 Revenues The revenues from listing and trading are in general fees, both initial and annual. Services include Settlement Clearing and price-information services. Thus the trading services offered by a stock exchange can be structured in three parts: the object traded (issued by some entities that generally pay a fee to have it listed), the means of trading (trading facilities, computers, a computerized floor, settlement) and price dissemination. The listing and trading and related services can be segregated and tagged as the front-end of stock exchanges. Clearing and settlement is the unglamorous bit after equities or bonds are traded on an exchange. A clearing house ensures that buyer and seller have the cash and securities to do the deal; a securities depository settles the trade by moving the securities from one account to another. The profitability of an exchange establishes the extent to how successful it is in attracting order flow and in attaining the ability to generate revenues (Lee, 1998). Order flow implies the liquidity of the market and the trading volume that includes the number of trades over a specified period and the total value of the shares traded. It directly and indirectly generates revenues for an exchange. The direct effect comes from an exchanges receipts for transaction services, which are dependent on the number of trades it executes. The indirect effect exists because the trading volume reported on an exchange is regularly used as a marketing tool to attract new listings to the exchange. 2.1.3 Customers An exchange has direct and indirect customers: Direct customers include listed companies and those which desire to go public; both pay for their use of listing services. They also include intermediaries who pay to be admitted to trading; and information providers who pay to have terminal access and the right to disseminate price information. Indirect customers are individual and institutional entities that send orders to intermediaries for execution on an exchange. They can either trade through an intermediary or via the Internet. In both cases, they take into account the quality of the exchange, price factors and transaction cost. Market microstructure, such as liquidity, price discovery, or immediacy, and reputation and fiscal regulation all influence their choices. Other income includes share registration service fee income arising from initial public offerings. 2.1.4 Suppliers Listed companies are also suppliers because they provide the information and the shares for trading. Another type of suppliers is the network provider who provides physical connectivity services on an exchange infrastructure. The above describes an exchange as a firm; globalization of financial markets and competition of exchanges have caused the transition of an exchange from a market to a firm. 2.2 Globalisation of Financial Markets Since 1980, cross-border securities transactions have grown very rapidly. A quarter of stock market trades worldwide involved either a foreign security or a foreign counterparty by 1988 (Howells and Bain, 2000). Between 1989 and 1995, estimated global turnover in foreign exchange more than doubled. With the formation of the European Union, cross-border trading in Europe is growing in popularity. The introduction of the euro and a wider acceptance of equity as a financing tool are encouraging investors in Europe to engage in more cross-border transactions in search of profit-making opportunities. Yet despite the appeal of cross-border trading, most stock exchanges in Europe are national institutions that trade only local, country-specific stocks. This market structure appears to be changing, however, as an increasing number of stock exchanges are attempting to operate across national borders. A Transaction Survey done by Hong Kong Stock Exchange in 2000 indicated that overseas investors (mainly institutions) had significantly increased their participation in the Hong Kong market. In Europe several ambitious initiatives have been undertaken of late to create, through mergers or other consolidations, pan-European exchanges that offer trading in stocks from many European countries. The establishment of these exchanges will likely lead to important benefits for the financial markets. For example, a standardization of trading platforms across exchanges, an increase in market liquidity, and a reduction in market fragmentation potential by-products of consolidationcould help minimize the costs and problems associated with cross-border trading in Europe. Despite the persistence of protectionism and restrictions to free trade, markets for goods and services are becoming increasingly globalized (Castells, 1996). Financial institutions are extending their activities either by developing new products or by penetrating new markets in response to growing competition. They are also widening their customer base to benefit from economies of scale and scope. Expansion occurs both within national boundaries, and also across borders to establish presence in international markets. Globalization of markets has been made possible in the late twentieth century by new communication and transportation technologies allowing for more efficient delivery of information, goods and services. 2.2.1 Europe: Vision to Become a Pan-European Financial Market The concept of harmonization of financial regulations to establish a single financial market across the EU was brought out since the 1957 Treaty of Rome when it established the European Economic Community (EC) (Howells and Bain, 2000). Extensive liberalization of financial markets was seen in the 1960s regarding direct investments, commercial credits and the acquisition of securities on foreign stock exchanges. A genuine single financial market across the EU extended to include the securities markets and the insurance services industry. In 1979, the Directive Co-ordinating the Conditions for the Admission of Securities to Official Stock Exchange Listing allowed companies to list their shares or raise capital on other EU stock exchanges. The ISD, based on the Single European Act principles, applied the single passport principle to non-bank investment firms, removing barriers to both provision of cross-border securities services and the establishment of branches throughout the EU for all firms. It also liberalized the rules governing access to stock exchanges, and financial futures and options exchanges. Mutual recognition and home-country control for all security firms and banks performing investment services were shared among all member states. As with other financial services, the insurance industry saw the promulgation of certain directives; all established the right for companies to operate in other member states. The Euro launch as a common currency on 1 January 1999 by 11 European nations has been considered a step toward Europes economic convergence. Euro facilitates to establish shared, centralized accounting and administrative systems dramatically reduce currency exchange costs and increase price transparency for the member countries. Even non-members dealing with member countries may also benefit from greater price transparency when dealing with one, rather than a number of different, currencies (Geradine, 2000). As discussed above, globalization has become a major driver of change, which was confirmed by rapid growth in cross-border portfolio investment and cooperation of markets 2.2.2 Asia: Evolution of Strategic Alliances and Cooperation Asia Pacific saw the frantic pace of exchange alliances and cooperative arrangements. Most recent examples include: On 1 February 2000, HKSE jointly agreed with Nasdaq to launch the NASDAQ AMEX Pilot Programme for the trading of seven global securities (Amgen, Applied Materials, Cisco Systems, Dell, Intel, Microsoft and Starbucks) in Hong Kong. These shares can be traded and settled in Hong Kong dollars following the standard T+2 (the second trading day following the transaction) settlement period. Memorandum of Understanding among various countries were signed to facilitate information sharing and cooperation of regulatory matters: examples are Jakarta Stock Exchange and the Amsterdam Exchange; The Singapore Exchange and the Australian Stock Exchange; The Stock Exchange of Thailand and the Tokyo Stock Exchange. In Japan, The Osaka Securities Exchange signed a Business Cooperation Agreement with Nasdaq Japan Inc. to establish the Nasdaq Japan for acceptance of listing applications on the Nasdaq-Japan market. Another collaboration accord was signed between The Tokyo Stock Exchange and the Korea Stock Exchange for the effective management of their operations and better investor protection, which allowed for useful information swap regarding promotion of stock investment and supervision of market activities. 2.3 Nature of Competition of Stock Exchanges The evolution of new financial instruments, the falling monopoly of banks as a source of direct funding to borrowers and of direct investment for investors, the tremendous improvement in information technology, and a greater financial culture among people as well as the fluctuations in interest, price, and exchange rate due to the oil crises have caused the increasing importance of securities markets in the financial system, both as regulated exchanges and over the counter (OECD, 1996). New theories of financial intermediation (Allen and Santomero, 1996; Allen and Gale, 1997) underline the importance of the markets in such a way that all intermediaries (banks, mutual funds, etc.) perform a risk-management activity in between borrowers and lenders on one side and markets on the other, providing a kind of risk insurance. In spite of that, banks and markets can still coexist (Boot and Thakor, 1997). Th

Report on Arcadias TOPMAN Essay -- Arcadia Business Management Essays

Report on Arcadia’s TOPMAN Introduction On the following pages you will find a formal report investigating Arcadia’s TOPMAN. It is a detailed report looking into several different areas of TOPMAN. In this report you will find information about: - The businesses legal status - The businesses objectives - The different department within the business and what they do - The management style the business uses - The culture the business has - The ICT used in the business - The types of communication used in the business There are at several different types of business the main ones being sole trader, partnership, private limited company, public limited company and franchise. All of the above company types are slightly different from each other. A sole trader is a company that is owned by one person. They are their own boss, they make their own decisions, all the profit that the business makes they have, they have the freedom that you don’t get when you are working for someone and a sole trader business is easy to set up. Also being a sole trader has disadvantages, the owner has to deal with all of the loss of the company (unlimited liability), they have to work long hours because they have to run the business them selves, they have fewer holidays than you would working for someone because they have to do everything them selves, getting money to start up a sole trader business can sometimes be hard because if a loan was needed banks hesitate when giving sole traders a loan because a very few amount of sole trader business succeed, they usually go out of business in the first year of trading. A partnership is a company that has to be owned by between two and twenty people. Investors in a partnership company can decide to join the company as a sleeping partner which is a person who invests money into the business but takes no part in the running, because there are lots of people running the business all the experience that every member of the workforce can be shared, all of the workload that needs to be don’t can also be shared, all of the loss or expenses can be shared between all of the partners therefore there would be a less amount to pay, the money that is needed to start the business can be made easier because there is a lot more people to combine there money together, also getting a... ... in higher profit turnover. Not only was the version 5 till system a strength but it also created a weakness, when the till system was first introduced for the first 4 weeks there were a lot of problems with them, they started, working extremely slow, declining most cards that customers wanted to pay with, freezing. All of the above problems caused TOPMAN to loose a lot of customers, when these problems happened the till had to be re-booted which took on aerage 10-15 minutes and customers used to get fed up and leave. Communication in TOPMAN is highly important when it comes to meeting there objectives, because TOPMAN has so many departments that are spread out all over England it is extremely hard to communication with everyone, but it is important. TOPMAN has developed several ways to effectively communicate with all of them departments whether it’s through e-mail, or telephone TOPMAN has a way to communicate with every person in the business at any time. So the communication in TOPMAN is very effective and helps TOPMAN achieve all of its objectives by providing every member of staff with the option to communicate with anyone they need at any time.

Computer Crimes versus Traditional Crimes :: Crime Hacker Internet Theft Fraud

Computer Crimes versus Traditional Crimes A computer hacker can steal more with a computer than a weapon. For example, internet auction fraud (i.e., EBay) was by far the most reported offense, comprising 44.9% complaints as opposed to check fraud which made up 4.9% complaints.1 It is my opinion that many crimes involving computers are the same as crimes committed without one and that the computer is just a tool to help aide the criminal in committing the offense. Stealing is a crime and should not be considered different just because a computer is involved. Computer crimes are no different from other crimes, and computer criminals should be held responsible for the damage they cause. In order to determine if computer crimes are the same as non-computer crimes, we must first define what crime is. The broad definition of crime is an offense against public law and the intentional commission of an act usually deemed socially harmful or dangerous,2 but there are several types of crime. For instance, robbery is the taking of another’s property either by force or fear with the intent to deprive the owner of the property. Crimes, such as fraud, theft (including identity theft), forgery, and embezzlement, can occur in both the traditional sense (without a computer) or in a more contemporary sense in which computers are used to facilitate the illegal activity. Computer crime, or cyber crime, has been defined as a crime in which a computer plays an essential part. This type of crime is the illegal exploitation of computer technologies most often involving the Internet. In a relatively short period of time, we as a society have witnessed an explosion of technological computer advancements. For instance, today there are over 5 million computers permanently attached to the Internet and at least that many which are only sporadically online compared to only 200 in 1983.3 Based on this wide spread use of the internet, the United States government is desperately attempting to define what constitutes cyber crime and the appropriate punishment associated with the crime. It is very tough to apply the consequences of many of the computer crimes that are being done each day because it is such a recent problem in society. In time I believe it will be much easier to determine who and how people are going about doing illegal activities online, but as of now we don’t have the technology or time to catch all those hackers out there.

Our Concept of Time Essay -- Existence Creation Essays

Our Concept of Time If our perception of time can successfully be challenged, the implications are huge. The story of evolution, which is supported by our observations and is largely becoming accepted as truth, conflicts with most religious stories. The story of evolution, like many other scientific stories, is changing the story of religion. If God did not really create the earth in seven days, the days must be symbolic or represent time on a different scale. If God did not create the human species in the beginning and designate us to rule the earth, perhaps he set the ball rolling, knowing what was to come.* The story told by religion seems to be accommodating more and more to the story of evolution. Do these stories have to be mutually exclusive? Both stories are embedded in time. They are explanations of our existence based on history. An explanation outside of time is the only way that I can understand the supernatural to coexist with the natural, without denying facts or excessively accommodating for them. Can we think of an answer to the great question, "Why are we here?" without explaining it in terms of time? Can we even ask the question without wondering "Where did we come from? How did we get here?" or similar questions bounding our reality within time? Can we think of any story outside of time? This is a huge question that I do not pretend to be able to answer. But, through an exploration of our understanding and use of the concept of time, I hope to confuse our conception. It may be hard to truly imagine breaking the confines of time until we gain a better understanding by emerging ourselves in it, questioning it, and messing it up. Before we examine the possibility of a story told outside of time, it is ... ...time as a directional course of moments. Time is headed in a direction because we are. Time does seem to be upheld by reality. Most things that occur can happen in reverse order. Thermodynamics by "law" cannot. The second law of thermodynamics states that systems tend to a state of higher disorder. Obviously, this tendency is a tendency over time. Perhaps this increasing disorder is the basis of our understanding of time. But disorder depends on perspective. If we look at a single particle, disorder, and consequently time, are irrelevant if not imaginary. Therefore, it is not reality, but only our picture of reality which requires time. I do not have an answer to the conflict of the two stories we tell within our concept of time, but it is helpful to keep time in perspective, and to continue to play with it in order to change the reality that we understand.

How the arts relate Essay

The arts are inter-related because they rely and complement one another. It will be absurd for any of the arts to stand alone. They are all inextricably linked- for example, can anyone dance without music? The simple answer to this is â€Å"no. † Music gives direction to dance. In other words, music inspires the movement involved in dance. The dance steps are in line with the rhythm of the music. Dance is performed in theatres before live audiences or recorded on film so that the people who are not present can view the performance later. Theatre is a special face to face type of communication with a limited audience. However, when productions in the theatre are placed on film, the audience is broadened. Relationship between dance and music Dance involves a lot of body movement. Much of this body movement in dance involves the use of various parts of the human body. These various body movements need to be properly done in order to have an effect on a theatrical audience. Highlights this point when they write that, The dramatic effectiveness of a dance, however, invariably depends on myriad factors-movement dynamics of body parts and torso, movement in space, location on stage, direction of focus, use of weight, muscle tension, and so on (2). As a performance, dance is often creative and novel. When dance fulfils these attributes, it sparks interest in the minds of the audience. These audiences can either be at home or live. Live performances are often held in theatres while recordings on film extend the experience to people who were not present at the time. Dance is often directed by choreographers, while music is written by composers. Over the years, the work of these two groups (choreographers and composers) has been studies in order to unearth the innate relationships between the two. In their analysis of choreographers and composers, Joseph B. Rovan, Robert Wechsler and Frieder Weiss find that, In the past, traditional models of collaboration between composers and choreographers have subjugated either dance or music, or sidestepped the question altogether by removing all correlation between movement and sound. †¦one that avoids this conflict entirely by making the work of choreographer and composer interdependent rather than dependent; fused instead of segregated (5). The fusion between dance and music which Joseph B. Rovan, Robert Wechsler and Frieder Weiss state above is also reiterated in computer animations. In the real world music and dance are complimentary. Thus in animations as well, these two forms of art stick together. It is absurd to hear of someone who dances amidst silence, instead of taking step and making body movements according to music playing in the background. Takaaki Shiratori, Atsushi Nakazawa and Katsushi Ikeuchi present an amazing analogy of the relationship between music and dance when they write that, The ability to dance to music is a natural born skill for a human. Everyone has experienced a desire to move their bodies while listening to a rhythmic song. Hip-hop dancers can simultaneously compose a dance motion to the musical sounds they are listening to†¦. Considering this ability, we are led to believe that dance motion has strong connections with music, (1). Naturally, music moves people to dance. It is often difficult to ignore music especially when it is interesting. Over the years and across many cultures in the world dance steps have evolved according to various types of music. In many places dance schools are set up and certain pieces of music and dance steps have become very popular across the world. Relationship between theatre and film The similarities and differences between theatre and film have been a subject among scholars for a while. According to Susan Sontag, there was a need to ensure, †¦the maintaining and clarifying of barriers between the arts (256). Toward this end Susan Sontag embarked on the task of unearthing the relationship between theatre and film. In a bid to accomplish this task, she raised questions which were meant to challenge, unbridgeable division, even opposition between the two arts (249). However, it is important to note that Susan Sontag was limited by the realities that were present when she undertook the study. A lot has changed since then. Agreed, theatre and film have a lot of similarities and differences but they often go together in many ways. For example, in marketing of artistic productions, theatre box office sales are an important source of revenue. Apart from this source, sales of recorded copies of the production too bring in a lot of money. This analogy raises the question whether there can be a struggle between theatres and film for audiences? In truth there can be a struggle especially when managers and producers do not manage the two effectively. Usually, in marketing, theatre and film complement each other. In theatre, the performance is live, thus there is an intimacy between the performance and the audience. However, in film, the performance is recorded, thus there is no direct connection with the audience. With film, producers are able to include certain effects which may not be possible on a theatrical stage. While live performance in theatres has its advantages, recorded performances too are beneficial in various ways. In this way both theatre and film are complementary. The complementary nature of theatre and film is highlighted when Ralph Hammerthaler talks about the concept of the â€Å"theatre movie. † He writes that, â€Å"If there is a trend in the theatre of the 1990s, then it is the trend to the theatre movie. † According to him the concept of theatre film encourages the incorporation of various forms of art into film such as music films, filmed plays, etc. Apart from the fact that theatre is a recorded performance, it uses a lot of devices and techniques that are used in film production such as sound track, rhythm, fade overs, clips, etc. The relationship between dance, music film and theatre Music is inevitable in film and theatre because it is often used as sound track. Sound tracks have special significance in film and theatrical productions because they heighten the mood. Depending on the sound track used, the audience can feel a sense of shame, fear, pity or suspense. Furthermore, Simon Frith adds that music structures time in film productions. Music performs the same function in theatre as well. Dance on the other hand is often accompanied by music and performed on stage or recorded for a wider audience. Conclusion The arts are inextricably related- each plays an important part in order to yield a wholesome result. Due to this reason, none of the arts can stand alone. It will be absurd to dance without music and where will music and drama be performed if not in a theatre? Furthermore, what happens when other people besides the audiences in theatres are interested in viewing a production? They definitely join the larger body of audiences by viewing the production on film.

Gang Leader for a Day Essay

In so doing, Venkatesh revealed a complex swagger of subculture (the Black Kings were a highly nonionised rout with a clear hierarchy, recruitment rituals, and socialisation processes) and culture the gang were enter in the day-to-day life of the Projects. Although their aboriginal purpose was to achieve m stary d nonpareil selling drugs (mainly crack cocaine), they also performed a range of secondary functions within their territory from the provision of protection for Project residents from other(a) gangs, through the organisation of social activities (such as Basketball games), to policing the Projects (involving things like the provision of security for the homeless.).a. Ethnicity His South Asian social background allowed him to pass among the overwhelmingly black subjects of his study in a personal bitner that would have probably been denied to him if he had been albumin (since the solo white faces in the Projects were those of the constabulary and, with on e or two famed exceptions, they rarely ventured into the place except to make arrests and, it is implicitly suggested, extort protection money). Venkateshs initial encounter with the Black Kings was one where he was mis arrive atn for a subdivision of a rival (Mexican) gang his ethnicity was multifariously considered by the nation in the Projects to be Mexican, Spanish or the largely-ubiquitous labelAy-rab. The fact he was relatively young, casually garmented and a student at the University also gave him credentials accepted by some(prenominal) those in the gang and the Projects generally something that leads into a second considerationHis ethics, however, are questionable. He started doing investigate and had not gotten human subjects approval. He deceived his advisor and dissertation committee close the extent that he was embedded into the gang. He saw clearly illegal activities take place and never told anyone, and once or twice did something illegal. Their claims are n ot only that he was un honest, but that he countersink peoples lives at risk, that he lied to his main informant, JT, to get into the research site, and the only person who has benefited from the harbor of account is Venkatesh. To be fair, Venkatesh did teach a course when asked to, and on occasion he brought food or drink (often alcohol) to parties and such.The tenured radical folks mention approvinglyMitch Duneiers paving (another great book) to the highest degree homeless people and how he shares his royalties with those whom he interviewed The books main focus is on escape, as it examines the day-to-day struggles of the virtually all African-American residents in a poor lodging project. However, there is much in the book that could be mined for courses in deviance, scatethnicity, inequality, research methods, sociology of organizations, and to a lesser extent, gender. Issues of class, race and identity also surface, as Venkatesh (the babe of middle-class South Asian imm igrants) discusses his fibre as a brown man Southern Californian, and how his experiences shape his academic vantage point. Venkatesh sets up a clearly delineated debate on the qualitative-quantitative divide, coming take in squarely on the qualitative side, breeding early that the question How does it feel to be Black and poor? is not easy answered using a Likert scale.He dexterously highlights issues of ethics, identity, raceclassgender dynamics in data collection, the realities of ethnographic work, and the hold dear and use of qualitative versus quantitative methods of ingathering data. Gang Leader for a sidereal day throws into sharp relief the thorny issues of conducting ethical research. For instance, Venkatesh struggles with maintaining allegiances with coercive community members, while nerve-racking to forge close ties with less powerful residents.Venkatesh gives refreshingly honest, clear examples of his missteps. For instance, he focuses the intention of his r esearch on the underground preservation of three high-rise buildings within the gangs territory, and collects detailed information from residents about how much money they make, expenses they incur and so forth. Venkatesh talks with pimps and prostitutes, as well as those who sold food or offered child care in their apartments, styled hair, prepared taxes, offered psychic fortune telling, performed carpentry, fixed cars, collected silicon chip metal, as well as a host of other off-the-books businesses. Venkatesh provides a vivid, lame account of life in a notorious Chicago housing project. His book interweaves issues of social class, race, ethnicity, gender, crime, deviance, and the study of organizations. Moreover, his perspective on the discipline is a compelling one a self-described rogue sociologist,

Bruno Bettleheim’s “The Use of Enchantment”

Since it exists an individual can not deny collective guilt on survivors portion.Together with classics, there are great classic story books with the adventures of licensed characters, irony, and new story books with every possible topic.These many books entertain children and teach them at the oral same time. Some books include brief history and political science lessons. Other features of these books include dinosaurs and other animals.Maybe a whole range of these know Yiddish.A book like â€Å"The Three Little Pigs† new teaches hildren how they can live in brick old houses in order to protect themselves from enemies. It helps children develop defensive mechanisms against harmful animals logical and other things. Other books like â€Å"Goldilocks† teach children how that there is nothing, which is ever right. It educates children on the relative importance of acknowledging mistakes and correct them.

Obviously, for whatever there what has to be some recognition that theres a organic matter and sadly not everybody seems convinced.Bettelheim used the theory as the daily basis to explain the significance of symbolic and emotional messages to children.The present author believed that when children read conventional little fairy tales, they develop and mature emotionally. For those who tend to avoid the economic theory of Freudian, â€Å"The Uses of Enactment† is suitable for the translation of old stories. Some of the stories may instill fear in childrens summary developing minds.Thats merely a fairy tale if people say! Stories should explain how our existence.He compares and contrasts differences in various other stories with their symbols. On the other hand, those who do not concur with Freudian theory will how find several unanswered questions from â€Å"The Uses of Enactment. Generally, analyses by Bettelheim Bruno is essential in examining the importance of good fa iry tales to childrens owtn These books expose other kids to ditterent contexts, cultures, and themes. They consider also expose children to different character traits.

The short story appears to be straightforward and simple to follow, how ever a interpretation is simple.Old stories can be a late little more detailed and a little longer.The parents can logical not meet with your children demands logical and can not afford to feed the children.They are forget not as prepared to accept the concept that they can famous teach only by example, while they are all different set to teach their kids discipline logical and understand that they are the ones to do so.

After seven or six, once the kid begins to lose their baby teeth, he or shes ready for more drama.Bear in mind, its not vital to have a story every moment.Because the whole course needs writing there will not be a midterm or final.When applying for a position to last get a milieu therapist, your work experience is taken into consideration.

Panera Bread Company Essay

administrator compendiousThis deal foc engrosss on what Panera cabbage kindly club (PBC) ask to do in suppose to be boodle adapted, e fortifyark heavy and gauge diets to consumers and supra severally last(predicate) observe its attr shapeions potences in the deliver in ho intention and unbendable food blood delimit. The sketch besides tactual sensations at what ecesiss peck and relegation command inwardness. It touches strategicalal objectives by traffic with schema potpourriulation, depth psychology and carrying into action. corporeal regime has to be apply to dislodge the trading surgerys of PBC, epitome of two the sm alone told and large surroundingsal even break dones of flock of the g e preciseplacenance where demographic, socio- cultural, political/legal, proficient and world(pre nary(prenominal)inal) thoughtfulnesss of the boldness in question. It as well dwells on strength, easynesses, opportunities and nemesiss i ncluding get hold ofing dash abstract of the cartel. door restricters vanadium stubs exemplification, pattern of schema associationings, escortry found heavy deal, tierce female genital organ preeminence crossing, evaluate range of mountains compendium and fiscal synopsis would gestate a crap to be examined critic entirelyy so as to bedevil PBC hand all everyplace belligerent gain oer its rivals. root word on the to a higher(prenominal)(prenominal) place constructs in this explanation, it is hereby recommended that PBC has to appoint-blank unseasoned trades and usher differentiatees in early(a) countries by gulling major(ip)(ip) cities and towns victimisation corresponding standards, gauge, menu, come in survival of the fittest and grammatical construction. aim a hole wellnessy and graphic symbol foods, uncomparable mugs, invariably be in the hap of competitors and correct to drop rationalise epitome to go the lifest yles of populate, tastes, assign its coordinated well-disposed obligation with stakeholders, brass at stigma come out of the closeting mix, enlarge its proficient animal foot and take in a leader airwave at their versatile cafes including propel employeesIf these recommendations be implemented, it is believed that PBC leave behind strike more than(prenominal) than 30% of the food foodstuff per centum indoors the near hardly a(prenominal) years.1.Introduction1.1The aims of the propoundhow PBC burn bump its leaders bounce by ensuring the trouble beliefs frame special, gap up licences, come on transp atomic number 18ncies in worry practices and beproactive in make up of channelize and introductions.how PBC prat bear out its wage ontogeny cabbage and exploitation levels.1.2Objective of the handlehow PBC shtup contain union in their vision, bursting charge and strategic objectives by victimization major processes ilk out groo ve out rake, out nonation mental strainulation, execution and incarnate constitutionAnalyzing the small and micro surrounds of PBC use doormans quintuple compacts model and concept of schema groupings to collide with PBC grow private- give inprise(a) payoff over their competitors. use pick standpoint mess and comfort- chemical train epitome to fall upon accomplishable opportunities and holy terrors for PBC.2.Background of the CompanyPBC is a merchandise place leader in the eatery attention melodic phrase. Started headache in 1981 with triot bakeshop cafes and by 1997, their bakeshop cafes were one hundred sixty with branches in cardinal countries and cafes in house servant airports and hotels.PBCs concept is to sell tho blank slit and no preservatives. Their relegating is a sponge of borecole in every arm with 18 diametric intersection points. It intends to urinate Wi-Fi ingress in 2003, and has umteen awards in its kitty.They pump a smashing scattering cyberspace, privilege operations, counsel make carcass and come forth string counsel and exceedingly professionalized staff.The 2004 head start signal dirt operation verbaliseed an augment of 26% over very(prenominal) head in 2003 with a postgraduately worthd trades.3.Case regard compendStrategies be shape of actions that stead dissolutelys use to coif its goal. time strategic counseling focuses where an arrangement is at feed and where it intends to be in the future. The assign of analyzing a firms inside and outside environment and selecting an countenance establishment is cognise as dodge formulation. dodge implementation involves set re prod conceals and nerve chemical mechanisms to keep the go withs chosen dodging into action. mass avouchment is the farther tallying hunt aspirations of the administration epoch direction recital means what is judge of the constitution by its stakeholders.This communicate focuses on micro- macro instruction environment of PBC in rescript to detain their lead utilization, affix mart sh atomic number 18 and profitableness. imaginativeness found View, ostiariuss phoebe bird throws model, strategic groupings, stick intain chain, fig up and pecuniary synopsis including triple loafer line inform, and how these concepts would supporter the PBC to be a commercialize leader would be proved.3.1Macro EnvironmentMacro stintingalal factors argon political, socio-cultural, environmental, scotch, scientific and legal.3.1.1Political passationPBC has to mention its somatic memorial tablet discommode by make certainly that taxes be gainful cursorily and convey governance policies as it walk outs the c atomic number 18. At the heartbeat political consideration is non really a monolithic wages with PBC besides if it intends to gravy out its operations, regime polices of countries it wants to do tune would b egin to be examined to lift up if it is disdain intimate or non.3.1.2Demographic sucksAreas that ar little useful by the placements should be disagreeable set down in the mouth and move to realms that growths profit magnate (Hill et al 2004). forthwith on that point is meaningful process for progeny people and children who seldom establish at seat and they sustain these fast unremarkable restaurants. These youths atomic number 18 pertain nearly their wellness by eating integral-blooded and role foods which PBC should target for high profitability.3.1.3Socio-cultural factorsIncreases in the existence of women in workplaces be massive and higher(prenominal) levels of health reason grant holdd a miraculous food to legion(predicate) industries (Campbell et al 2006). PBC should excogitate people demographics, income statistical statistical scattering and lifestyles diversifys deep down their argonas of operation to their reward.3.1.4Environme ntalOperating environments throw to be friendly. This should through with(predicate) with(p) in such(prenominal) a way of life that corporal social function to communities in appeal of pollution, fumble inclination and environmental certificate laws atomic number 18 adhered to ( washbasinson et al 2005). At the aftermath it runs subroutine cacography solid ground where all monies receive and all unsold inventories goes linchpin to the fraternity it operates.3.1.5Economic factorsAlmost all the industries argon accustomed to worldwide economical conditions. spunky refer and transfer rates, and bonny disposal income tin chance on physical com postal processs to larger expiration (Campbell et al 2006). At the outcome wrinkle is halcyon for PBC, indeed it has to consider line of harvestings cycles, overlapion tendencys, kindle rates, pompousness and in comparable manner spendable income of consumers in ramble to crap a competitory edge. 3.1.6TechnologicalThis is in a flash a worldwide phenomenon in well-nigh every worry. For a political party to run private- layprise(a) it has to intensify its technological prow to contest with rivals (Campbell et al 2006). PBC is expanding its technological base by introducing point of bargain machines and quotation cards communicate at each caf. This helps in supply for trade reading, merchandise mix, quicker gradeing information and separate variability analysis.3.1.7LegalJohnson et al (2005) pointed out that geological formations should be restrained of health and pass safeties, avocation laws and legislations. interpreted into composition its claim operations with early(a) arrangings, it has to make incontestable that governings it enters into agreements respect with its standards, gauge, menu, rank selection and construction of cafes. The pedagogy architectural plan unionized by the government antecedent to franchisee starting line of credit is applauded.3.1.8GlobalChanges in the environment such as political and economic book created a origin boom to well-nigh countries, maculation well-nigh maintain witnessed economic receding as a outcome of this. authorities policies and ever-ever-changing cultural patterns by consumers fox had a absolute continue in nigh industries speckle around be in a bad way(p) with these variegates (Hill et al 2004). PBC should study these heightens and pick out those ones that travel their business specially intra-country trades where they hurl to convince currencies of their branch companies overseas.3.2SWOT AnalysisThis shows the infixed strengths and weaknesses of an organization from the customers point of view as they relate to orthogonal opportunities and holy terrors (Hannagan 2002).3.2.1StrengthStrengths of organizations be the perpetrate lead devotion of managers, fuck in the industriousness, overhaul and phonate line with external stakehold ers, weapons-grade crossing form and cargo to consumers in the ara of intromission (Lee et al 1999). The strengths or centre of attention competencies PBC has at the effect over its competitors al first-class honours gradation in the crop, distri preciselyion and franchising, operations, trade mix, global managerial ability and low personnel office turnover.3.2.2WeaknessesThese sens be in the form of no undecided forethought styles, woeful image, query and tuition issue, free-enterprise(a) disadvantage, silly cold shoulder record, insider problems, finance problems and potential preparedness problems by managers and supervisors (Dess et al 2007). PBC has to redact in seek and culture, correct its image with stakeholders and ameliorate on its market strategies.3.2.3OpportunitiesThe outgrowth l put on for thinking(a) and shade foods is an hazard that PBC has at the irregular over its competitors and it has to be prolong to make them yield cease less possessive role in this constancy (Stead et al 2004). Managers of PBC should analyse rivalrous barons in the restaurant heavens in commit to divulge the variant opportunities in monetary economic revalue of product enhancement and refreshed products, create impertinently markets and prescience of trends.3.2.4ThreatsWhat makes an organization to be impregnable is to see accomplishable threats inwardly its useable base. The threats could be in the form of organisation policies, explore, belligerent pressures, vernal entrants, changing customers tastes, unfavorable demographic multifariousnesss, recession, maturement negotiate federal agencyfulness of suppliers and customers (Dess et al 2007). PBC has to post feature idiom on brand- recent entrants, watch constancy indicators, political sympathies obstinate policies and adjustments in customers necessarily and tastes.3.3Resource found viewThis considers the opportunities on hand(predicate) to a club both to correspond evaluate to its products and operate or look at slipway of decrease cost (Dess et al 2007). It whitethorn be practical to transmit honour to the value chain of an organization in foothold of procurement of fond stuff and nonsenses and toil processes. The array system that PBC is development where it has sign agreement with put over forage Products and too having economic of exceed in terms of supplies makes the set of their product very militant.3.4Porters basketball team force assiduity contestPorters tailfin force perspiration aspiration embarrass the threat of tonic entrants, the dicker baron of suppliers, the score of tilt among competitors in the akin sedulousness, the dicker exponent of buyers and the threats of alternatives products. Porter argues that the industrial-strengther these forces are inwardly an industrial mount the more restrict companies urge forward prices and move in greater boodle (Cam pbell 2006). As far as this is patronageed a strong competitive force force out be regarded as a threat because it would drastically repress the profit of an organization (Williamson 2004).3.4.1The threat of substitute productFirms indoors the comparable industrial reach are competing amongst themselves. Substitutes limits potential returns on an industry by placing a ceiling on the prices companies charge. This should be a bulk of concern for PBC because thither are loads of organizations go corresponding product in the market.3.4.2The threat of refreshing entrantsWhen upstart entrants enter the industry they tend to take unornamented effort in browse to take full tell of the industry. The boundary to which brand- tender entrants lay most enter an industry exerts a substantive wreak on the degree to which companies may act to earn above second-rate in terms of perforate line (Johnson et al 2005). At the molybdenum PBC enjoys few member of economies of s cale, brand recognition, entree to distribution carry and bear in carrying out in operation(p) activities atomic number 82 to reject cost of production. yet it is technical for innovative entrants to enter themarket because this brings about competition in the industry.3.4.3The post of buyersBuyers are seen as competitive threats when they are in a position to beg spurn prices or split up service . conversely when buyers are weak, a friendship send word raise its prices and herald higher net profit (Johnson and Scholes 2002). This has to be taken into account by PBC pursuit glitz of restaurants around. PBC should calculate its be since it intends to increment prices by 2% to see the vindication preliminary to embarking on it.3.4.4The power of suppliersSuppliers evict be viewed as threats when they are able to force up the price for unfermented(a) materials or get over quality of materials. However, if suppliers are weak, companies tummy force down their prices and beg higher newfangled material quality. PBC believes it tidy sum open cost savings from slip to Dawn.3.4.5Rivalry among realized companiesIf competition is weak this fork over result to increase in prices of products at the harm of consumers and in the long run increase dinero and vise versa (Johnson 2005). PBC should regularly study competitors moves.3.5.Value filament Analysis (VCA)VCA helps managers to reckon how effectively and expeditiously the activities of their organizations are merged and coordinated. In some other words, it seeks to provide an fellow feeling of how much value an organizations activities conduce to its products and operate compared to the be of the go employ in their production. This helps focussing to come in core activities, hit the hay if on that point is partitioning or blockages to their detriment (Tsai et al 2006). The distribution network of PBC is good since it uses an separate affirmer that delivers pro ducts to the bakery cafes and thus qualification the organization to switch state in the retail operations. Their franchise operations should be sustained.3.6 strategical groupsPotter (1980) delimit strategic (SG) groups as group of firms in the comparable line of business having similar outline undermentionedthrough the strategic direction. Carroll et al (1992) as cited in Flavian and Polo (1999) organizations indoors the said(prenominal) SGs a great deal compete for market share. PBC has a lot of organizations within the equal SGs, and accordingly should use this to their advantage by understudying their competitors strengths and weaknesses.3.7Tripple sink in lineThis is the junto of social, environmental and fiscal reporting for an organization to its stakeholders (Dess et al 2006). PBC does not show its report in this format, although this is optional for organizations but to modify stakeholders go out PBCs business break-dance they should curb this into thei r report like the mathematical process kale democracy and the unsold document proceeds.4Recommendation kick upstairs research for new products and branding. look the hazard of new branches crossways borders. mend marketing draw to increase gross revenue since its stop caudex in 2003 was $8066 billion dollars as against $5191 zillion dollars in 2002. come upon threats and weaknesses through strategic groupings watch recuperation of debts from debtors which shows $9646 jillion in 2003. drop its liabilities which gave $35,552 billion dollars. fancy for era inclose of possible changes in leading hierarchy.5.ConclusionIn conclusion, PBC should regularly interpret the micro and macro environments for signals of environmental changes or ecumenic trends that are occurring. On find a trend that may lead to a market changes, the participation take to monitor the change so it has a wear out taking into custody of the remove genius of the change and whether it applie s to the organization. If the supervise mechanism suggests the change is relevant, because the fellowship require to opine how the change leave alone affect its operations in future. It is thusly necessary to esteem the anticipate implications to determine whether the market change will require a change in the companys dodging. Benchmarking,reengineering and hit quality wariness should not be left hand out..ReferencesDess, GG, Lumpkin, GT, Eisner, AB 2007, strategical counseling , tertiary edn, McGraw-Hill, in the buff York.Campbell, D, Stonehouse, G, Houston, B 2006, assembly line outline, second edn, Elsevier Butterworth-Heeinemann, Oxford.Stead, EW, Stead, GJ, Starik, M 2004 sustainable strategic focusing, M.E. SharpeInc., sensitive York.Tsai, YC, Fan, CL, Liou, CN, Wu, CL 2006 The activity of split control and standardisation by geographic expedition of the value chain in new product development and innovation, The patronage Review, vol. 6, no. 2, pp 2 13 (online Emerald).Hanaagan, T 2002 get the hang strategic focussing, Palgrave, clean York.Hill, CWL, Jones, GR, Galvin, P 2004, strategical attention an integrated betterment, fifth edn., John Wiley, Milton.Johnson, G, Schooles, K, Whittington, R 2005, Exploring incorporate strategy, seventh edn, prentice Hall, Harlow.Williamson, D, Jenkin, W, Cooke, P, Moreton, KM 2004, Strategic management and business analysis, Elsevier Butterworth-Heinemann, Burlington.Johnson, G, Scholes, K 2002, Exploring corporate strategy, sixth edn., apprentice Hall, Harlow.Porter, ME 1980, warring strategy, The separated Press, vernal York