Role of Stakeholder

Role of Stakeholder Jane C. Doe MGT/420 December 10, 2012 George Wells Role of Stakeholder The role of stakeholder in implementing a quality management process is one that has many facets. When an organization decides to embark upon a quality management process there are many people, internally and externally, dependent upon or affected in some way by the final product, output or process (â€Å"Tutorialspoint†,  2012). In order to decide who the stakeholders will be in the process, management of the stakeholder process is essential.First, it is important to identify all those required to ensure the success of creating an efficient process; those involved are either inside or outside of the organization (â€Å"Tutorialspoint†,  2012). Second, an analysis to ascertain what the stakeholder’s needs, boundaries, expectations, locus of control within the process, and mutual relationships will be is necessary to make sure everyone involved understands his or her rol e (â€Å"Tutorialspoint†,  2012).A third and also important step is the process of engaging all stakeholders early on in the project. Stakeholders must have the ability to engage with the leaders of the quality management process to familiarize everyone with each other and understand each person’s role within the process. When working conceptually with quality management, the three spheres of quality known as quality management, quality control, and quality assurance each have their own role but also overlap (Foster, Chapter  1, Differing Perspectives on Quality,   2007).In each of the spheres mentioned herein, stakeholders play various roles. In order for an organization to achieve, maintain, and improve the quality of its offerings, companies use quality control and quality assurance processes and procedures (â€Å"Tutorialspoint†,  2012). Organizations will define their internal quality standards, procedures, and processes as well as develop stakehold ers who will be required to adhere to those standards when dealing with quality control. Stakeholders will monitor process apability and stability, measure process performance, develop and maintain control charts and more (Foster, Chapter  1, Differing Perspectives on Quality,  2007). In terms of quality assurance, stakeholders are required to put forth a continuous effort to improve the quality practices within the organization. According to  Ã¢â‚¬Å"Tutorialspoint†Ã‚  (2012),  Ã¢â‚¬Å"Continuous improvements are expected in quality functions in the company. For this, there is a dedicated quality assurance team commissioned†Ã‚  (Quality Control & Quality Assurance).The stakeholders of a quality assurance team are dedicated to and responsible for defining a process for achieving and improving quality; they are responsible for process improvement (Foster, Chapter  1, Differing Perspectives on Quality,  2007). â€Å"The management processes that overarch and tie together the control and assurance activities make up quality management† (Foster, 2007, Chapter 1, Differing Perspectives on Quality). According to Foster  (2007),  the mixed view of quality management up holds the notion that quality is the responsibility of all management, not just quality managers (Chapter  1, Differing Perspectives on Quality).So in the case of implementing a quality management process, managers, supervisors, and employees are all stakeholder of varying degrees in implementing quality management activities such as planning, creating the quality culture, providing leadership and support, providing training and employee recognition, and facilitating organizational communication (Foster, Chapter  1, Differing Perspectives on Quality,   2007). Two companies that utilized world-class quality control plans are General Electric (GE) and Federal Express (FedEx). To keep GE ahead, managers have devised an array of corporate strategies. They put exceptio nally heavy reliance on the quality control program that far outstrips run-of-the-mill efforts†Ã‚  (Foster, 2007, Chapter 1, Differing Perspectives on Quality). FedEx utilizes the value-added perspective on quality (Foster, Chapter  1, Differing Perspectives on Quality, 2007). â€Å"To reach its aggressive quality goals, the company has set up one cross-functional team for each service component of the SQI† (Foster, 2007, Chapter 1, Differing Perspectives on Quality).The SQI is a 12-component index that FedEx uses that comprehensively describes how its performance is viewed by its customers. Each item in the service quality indicator is weighted to reflect how pointedly it affects overall customer service (Foster, Chapter  1, Differing Perspectives on Quality,  2007). References Foster, S. T. (2007). Managing quality. Integrating the supply chain (3rd ed. ). Retrieved from https://ecampus. phoenix. edu/content/eBookLibrary2/content/eReader. aspx#gloss01_357. Tutor ialsPoint. (2012). Retrieved from http://www. tutorialspoint. com/management_concepts/stakeholder_management. htm

Minority report vs all the troubles of the world Essay

The two computers â€Å"All the Troubles in the World† and â€Å"Minority Report† are both machines that can predict the future, but they operate in different ways. The computer in Minority Report is actually 3 human beings with psychic powers. However the computer in â€Å"All the Troubles in the World† is actually a super computer that becomes so complex it starts to act like a human. Some other differences are that Multivac controls the world’s economy and can predict everybody’s actions before the people can even think about doing it, while the Pre-Cogs can only predicts murders with vague visions. The ways the two machines operate are vastly different; the Pre-cogs need a technician to constant watch them and special medication, but all Multivac needs are replacement parts to be installed occasionally. People also see Multivac as a god as it can predict almost anything with the data its collected. The Pre-Cogs on the other hand are constantly doubted as some people don’t believe they are 100% accurate. Although the two machines have many differences they are similar in some aspects, they both can predict murders and a police force can stop it before it happens. Both of the universes heavily rely on the two machines to make the world a better place. Overall the two stories â€Å"All the Troubles of the World† and â€Å"Minority Report† have similar concepts but are very different when you look at how the machines function. All the Troubles in the World vs. Minority Report The two computers â€Å"All the Troubles in the World† and â€Å"Minority Report† are both machines that can predict the future, but they operate in different ways. The computer in Minority Report is actually 3 human beings with psychic powers. However the computer in â€Å"All the Troubles in the World† is actually a super computer that becomes so complex it starts to act like a human. Some other differences are that Multivac controls the world’s economy and can predict everybody’s actions before the people can even think about doing it, while the Pre-Cogs can only predicts murders with vague visions. The ways the two machines operate are vastly different; the Pre-cogs need a technician to constant watch them and special medication, but all Multivac  needs are replacement parts to be installed occasionally. People also see Multivac as a god as it can predict almost anything with the data its collected. The Pre-Cogs on the other hand are constantly doubted as some people don’t believe they are 100% accurate. Although the two machines have many differences they are similar in some aspects, they both can predict murders and a police force can stop it before it happens. Both of the universes heavily rely on the two machines to make the world a better place. Overall the two stories â€Å"All the Troubles of the World† and â€Å"Minority Report† have similar concepts but are very different when you look at how the machines function. All the Troubles in the World vs. Minority Report The two computers â€Å"All the Troubles in the World† and â€Å"Minority Report† are both machines that can predict the future, but they operate in different ways. The computer in Minority Report is actually 3 human beings with psychic powers. However the computer in â€Å"All the Troubles in the World† is actually a super computer that becomes so complex it starts to act like a human. Some other differences are that Multivac controls the world’s economy and can predict everybody’s actions before the people can even think about doing it, while the Pre-Cogs can only predicts murders with vague visions. The ways the two machines operate are vastly different; the Pre-cogs need a technician to constant watch them and special medication, but all Multivac needs are replacement parts to be installed occasionally. People also see Multivac as a god as it can predict almost anything with the data its collected. The Pre-Cogs on the other hand are constantly doubted as some people don’t believe they are 100% accurate. Although the two machines have many differences they are similar in some aspects, they both can predict murders and a police force can stop it before it happens. Both of the universes heavily rely on the two machines to make the world a better place. Overall the two stories â€Å"All the Troubles of the World† and â€Å"Minority Report† have similar concepts but are very different when you look at how the machines function.

A Poetic Message Of Hope By Anne Bradstreet

A Poetic Message Of Hope By Anne Bradstreet Hope in the face of death seems to be an impossible concept to adequately convey to a reader. After all, death itself seems to be the epitome of hopelessness and despair. However, Anne Bradstreet conveys in her poetry this very idea. Bradstreet lived in a Puritan community in America where people lived very hard lives and struggled greatly. In such conditions, death was a possibility that loomed over people on a daily basis. As such, it is a topic that Bradstreet chose for many of her poems. She endeavors to bring hope to her fellow settlers, even in the face of death, by widening their field of vision to include eternity that is promised to them by God. In her poems â€Å"Contemplations,† â€Å"Before the Birth of One of her Children,† and â€Å"As Weary Pilgrim,† Bradstreet uses nature to illustrate where to keep one’s focus in life and shows how to remain hopeful when death is an inevitable and ever-present fact of life. While Bradstreet praises nature in her poetry, she acknowledges its insufficiency while using it for a higher purpose. In her poem â€Å"Contemplations,† she speaks highly of nature and the beauty it possesses. She praises nature’s ability for rejuvenation in the eighteenth stanza by saying, â€Å"If winter come and greenness then do fade, / A spring returns, and they more youthful made† (Bradstreet 124-125). She seems envious of this trait and reveres it. She then observes that man falls short in these terms: â€Å"But man grows old, lies down, remains where once he’s laid† (Bradstreet 126). Man falls victim to time and age without the ability to regenerate. With this realization, she is addressing a subject that would have been very prevalent in her time: death. Life in America was hard for people in the communities in which Bradstreet found herself, and these harsh conditions led to very high death rates. This accounts for Bradstreet’s adm iration for nature’s regenerative powers and takes it a step further by asking a question: â€Å"Shall I then praise the heavens, the trees, the earth / Because their beauty and their strength last longer?† (Bradstreet 134-135). She quickly silences this thought by observing that, despite the longevity of trees, the earth, and all other forms in nature, these things will eventually die and â€Å"man was made for endless immortality† (Bradstreet 140). She is showing that despite the places where man falls short, namely in strength and longevity, he will receive his reward in the eternal world and because of that, man is superior. This would have been a message of hope for the people of Bradstreet’s time that were struggling. This idea that they would be rewarded in the next life was a comforting notion and one that was rooted in Puritan beliefs. However, rendering nature insignificant seems to be contradictory to the rest of the poem, which spends a good a mount of time praising nature. Despite her seemingly contradictory statements about nature’s worthiness of adulation, she is justified in her use of nature as her focus and her praise of nature’s beauty and superior appearance because she speaks about nature as a reflection and illustration of religious ideals. She opens the poem with praise for the beauty of the trees during autumn. She takes it a step further in stating, â€Å"If so much excellence abide below, / How excellent is He that dwells on high†¦Ã¢â‚¬  (Bradstreet 9-10). She sees nature as a reflection of God himself. Not only is it a reflection; Bradstreet also proves that observations of nature can be used to illustrate religious concepts. For example, she observes a fish swimming and infers that he is striving for the goal of reaching the ocean. As she did with her previous description of nature, she takes the illustration further and relates it to something of greater value. In the same way the fish is struggling, a person strugg les through the hardships of life with the promise of eternal life at the end of the journey. Nature alone is not worthy of worship, but when viewed as God’s creation and a reflection of him, it is to be revered because it is meant to point to him. She is conveying the importance of keeping the focus on God in all things and to strive for the ultimate goal of eternity throughout life rather than earthly goals. In the words of Kopacz, she is saying, â€Å"Earthly achievement and status, memorials and records, are meaningless in the perspective of eternity. Only salvation can triumph over time† (Kopacz). As she refocuses her audience, she is telling them through her use of nature that God and salvation in him should be focused on in life because it is the only thing that lasts throughout eternity. She recognizes the difficulty of keeping one’s eyes on God and illustrates this struggle in her poem entitled â€Å"Before the Birth of One of her Children.† This poem was written upon the impending birth of one of Bradstreet’s children, and in it, she recognizes the possibility of dying in childbirth. She observes in the poems the far-reaching power of death by stating, â€Å"No ties so strong, no friends so dear and sweet, / But with death’s parting blow is sure to meet† (Bradstreet 3-4). With this statement and the previous examples of Bradstreet’s poetry, one would expect mention of the eternal life that waits after death. However, as Dempsey points out, â€Å"the speaker does not soften death’s reality with pious words about an expectation of heaven or by a repentance for sin† (Dempsey). The poem is void of any such promise. Instead, she laments leaving behind her husband and begs that he cherish her children if she should perish. She even goes on to say, â€Å"And if I see not half my days that’s due†¦Ã¢â‚¬  (Bradstreet 13). In other words, she is saying that if something does happen to her, she will have been cheated out of time on this earth. This is not the voice of someone who is looking toward the eternal life promised after death. This is a realistic and natural attitude to have, and she is illustrating here the difficulty when facing death to keep one’s eyes on such things. When faced with the possibility of leaving all that one has known, she shows that worrisome thoughts set in and fall upon those you will leave behind. This gives the poem a desperate tone that is devoid of hope. However, this is not the only view of death that Bradstreet gives. In her poem entitled â€Å"As Weary Pilgrim,† she talks about the toils of life and the relief and comfort to be found in life after death and states, â€Å"Such lasting joys shall there behold†¦ Lord make me ready f or that day / Then come, dear Bridegroom, come away† (Bradstreet 41-44). In her poetry, she illustrates the desperate struggle with one’s own death while showing the reader that relief can be found when focuses on the eternal life God promises. Anne Bradstreet’s religious beliefs are strongly rooted in her poetry, and the poetry itself seeks to help people on their own spiritual journeys. She shows how man is superior to nature because of the promise of eternal life. Although it may seem in this life that nature itself is stronger and more majestic than man, it is of no value because man will receive his reward in the next life. Therefore, to understand this, one must always remain focused on God and the ultimate goal of eternity with him. She illustrates that very concept by connecting everything she sees in nature back to religious ideas. However, as Bradstreet realized, this is not always an easy to do. Her feelings about the possibility of her own death are also in her poetry, and they evoke a sense of hopelessness. She shows her own despair that occurs when she lets her eyes fall from God to earthly things alone, and in illustrating that struggle, she makes her message of hope even stronger. Her charge to keeps one’s eyes on God, and the illustration of her own struggle to do so in her poetry shows that there is hope to be found in the end, even for those, like herself, who may struggle to keep their eyes on that which is eternal. Works Cited Bradstreet, Anne. Anne Bradstreet. Beginnings to 1820, edited by Nina Baym, 8th ed., W. W. Norton and Company, 2012, pp. 207-38. 2 vols. Dempsey, Francine. Before The Birth Of One Of Her Children. Masterplots II: Poetry, Revised Edition (2002): 1-3. Literary Reference Center. Web. 21 Sept. 2016. Kopacz, Paula. Contemplations. Masterplots II: Poetry, Revised Edition (2002): 1-3. Literary Reference Center. Web. 21 Sept. 2016.

Corporate finance Essay Example | Topics and Well Written Essays - 2000 words - 5

Corporate finance - Essay Example However, the board decided to acquire Forthnet in Greece on the premise that overseas buy-out will result in higher revenues in the long run. Regrettably, the acquisition of Forthnet was proved to be disastrous for Go Plc, and this demonstrates that how holding excessive cash could destabilise an earlier profit-making company. The choice by Go Plc to go for acquisition instead of paying out the excess cash to shareholders by way dividend has been exceptionally disadvantageous as corroborated by constant fall in its share price and the erosion of shareholder value immediately after the acquisition. The optimum level of cash balances that a company can have is the cash balances to meet their expenses, interest and capital expenditures and some level of cash balances to meet any extraordinary scenarios. Anything more than that will be regarded as too much cash reserves held by a company. The quick ratio and the current ratio will help to understand whether a company is having adequate cash reserves to cater their real time cash needs. Naturally, investors get worried about companies that hold â€Å"too much† cash because huge cash balances minimise the shareholder’s value as they offer lesser returns on their capital. The main contention of the David Einhorn, who is the manager of Greenlight Hedge Fund who successfully obtained an injection from the court against Apple Inc to declare dividend from its cash reserves there by compelling to declare the dividend from the Apple’s cash reserves. Hence, there is a likelihood that the value of shares of the Apple may increase by $50 per share or more after such a dividend declaration. Further, Apple shareholders are more worried that Apple may use these excess cash balances for negative mergers or acquisitions. This is supported by the precedents such as Microsoft’s blunder acquisition of aQuantive at $6.3 bn, EBay’s bad

Risk in marketing and human resource and how to manage it Essay

Risk in marketing and human resource and how to manage it - Essay Example In the section of promotion, risks occur if a company fails to select the right media to reach its audience and the idea that, a company develops a message that is not making any progress, this could mean that either the message is not clear or the one announcing has tempered with key points.   SWOT analysis is one strategy that helps eliminate most of the risks. That is if the companies together with the employees sit together and get to know what their customers are saying about the prices of their commodities, if they are fair, expensive or cheap and see the need to adjust. Also, if the company feels it does not reach out to the public, it needs to come up with new strategies of promoting their products, could be, they look for sale person or change Medias. Risks in this section start as fast as planning is concerned. Human Resource entails analyzing jobs and descriptions. This means that; they have a right to select the right person for a given position. If neglect is done in this area, there is a possibility of not getting the right manpower at the right time. In recruitment and selection, an action plan is set to ensure that the organization does not get any shortage of personnel that are qualified. If poor procedures are followed, there is a risk of incompetence in job production. The other aspect is in performance appraisals; all employees are expected t undergo an evaluation to see if the set goals were met or not. If no appraisals are done, there is a risk of de-motivation and will impact on production negatively. Being able to identify a risk brings us to the first step of risk management. This is achieved through a careful assessment tool, so as to be able to analyze and manage the types of risks (Kiritsis, Dimitris 28-30). Print Kiritsis, Dimitris. ‘Engineering Asset Lifecycle Management.’ Proceedings of the 4th World Congress on Engineering Asset Management (wceam 2009), 28-30 September 2009. London: Springer,

Taking Care of Teenagers Essay Example | Topics and Well Written Essays - 750 words

Taking Care of Teenagers - Essay Example Given that reasoning, one must wonder as to whether or not it pays off in the long run to raise a teenage kid. Those that oppose raising teenage kids do so on the premise that anybody between the age of 13-18 require too much parental supervision in their academic, social, and family lives. It becomes difficult to keep track of the teenagers activities at these ages because of their quest for self discovery and self-understanding. Some parents get confused because the teenager seems to wear his personality the way he wears his clothes, it changes everyday. One minute you can have a loving, clingy teenage child who wants nothing more than to cuddle with mom and dad. Then the next minute, you have a kid asking you to park the car 3 blocks from school so his classmates wont see him being dropped off by mom or dad. So, it becomes understandable when parents say raising a teenage kid requires volumes of aspirin in order to combat the headache that it is. But if you analyze it, these mind boggling personality changes within a teenager are exactly the stuff that a parents memories are made up of. T hese are the very moments that are to be cherished for a lifetime and make it all worthwhile to raise a teenager. Parents say that teenagers are rebellious and do not have a clear understanding of life and its intricacies. They get into so much trouble that sometimes a parent wonders if he should just prepare bail money instead of an allowance for the kid. These are the parents who give up on raising their teenager when they should be the most involved in the raising of their teenager. A parent has to understand that a teenager is on the verge of adulthood. Their problems are caused by the fact that they want to be treated as adults but still act like the children that they are during certain situations. This is the time when a teenager needs his parent the most. The teenager needs to know how to be an adult before he turns 18 and is officially given the reins to his life

Globalization on the U.S. Economy Research Paper

Globalization on the U.S. Economy - Research Paper Example Globalization is a concept whose recognition appeared only recently, although its evolution can be traced back to the middle age periods in Europe. Localism and centralization in trade and social interactions defined societies in pre-modern periods, in which people remained within the confines of their birthplaces for their entire lives (Torress 107). Trade was mainly conducted in market places within territories with long distance trades only being on luxury goods, which were exclusive for the rich. Leadership was mainly through kingships and monarchs used local power elites owing allegiance to them, with no form of centralised governing machinery whatsoever. However, in the wake of natural disasters like famines and droughts, increased demand for goods and religious commitments led to the interaction between different communities and kingdoms began to expand with merchants traversing large distances in search for sources and markets for their merchandise (Waters 121). The sixteenth century saw the explosion of the concept of globalisation and the transient of localism. Some of the developments included improvements in naval technologies, which opened up trade between territories oceans apart. There was European regeneration marked by moving away from the monarch leadership to statehood existing presently, and the emergence of the French and American Revolution principles (Watters 249). This was followed by the emergence of the industrial revolution, which saw great improvements in technology, inanimate traction, increased demand and supply leading to increased trade over long distances, colonialism and missionary work across the globe.

Working at McDonald's Essay Example | Topics and Well Written Essays - 750 words

Working at McDonald's - Essay Example The apparent reasons that were disclosed by the author included affecting academic performance in a negative manner; apparently imparting skills that are not sufficiently applicable in future endeavors; and reportedly skew the values that are supposed to focus on adherence to ethical, moral and legal standards. Evidently, Etzioni indicated that the nature of the jobs provided in these kinds of establishments is highly uneducational. For one, the tasks and responsibilities were routinary, highly automated, structured, and leaves little grounds for instilling the teen-agers skills to develop creativity and innovativeness in the work setting. Another set of reasons contended by Etzioni that contributes to McDonald’s being bad for one’s kids are that these jobs provide few opportunities for career promotions or for the development of marketable skills, and more importantly, take greater amounts of time that compromise academic attendance and performance. Likewise, without a mple adult supervision, no governance and strategic guidance is provided to teenagers working in McDonald’s; and the apparent remuneration enables these teenagers to gain access to temporary fads and short-term pleasures that do not focus on the development of long-range planning on being financially mature and responsible citizens. Part 2: Critical Response Etzioni’s points of discussion and arguments were effective in terms of the ability of the author in relaying the message in a clear and concise manner. For instance, the subject or thesis statement was revealed at the first line where it was indicated that â€Å"McDonald’s is bad for your kids†¦ (particularly) to the jobs teen-agers undertake† (Etzioni 283). Then, succeeding statements provided the needed support for this main point. To support this main argument, for instance, Etzioni provided the following reasons to justify that McDonald’s is bad for kids in terms of providing employme nt at this particular fast food chain: (1) these jobs were asserted to â€Å"undermine school attendance and involvement, impart few skills that would be useful in later life, and simultaneously skew the values of teen-agers† (Etzioni par. 3); (2) these jobs are highly uneducational; (3) the hours and working days were reported to be too long; (4) supervisory techniques impart wrong lessons in terms of compliance that was described as blind obedience, as well as shared alienation with the boss (Etzioni par. 14), and inappropriate and insufficient (where teens were reported to supervise peer teens); (5) inconsistency in administrative or supervisory governance (too tight or too loose); and (6) pay apparently spent on â€Å"flimsy punk clothes, trinkets, and whatever else is the latest fast-moving teen craze† (Etzioni par. 18). Another reason why one strongly believes that Etzioni presented effective arguments to support his main point is that the author used and cited p revious studies to validate statements that were presented. There were two studies noted and cited as needed: the 1984 study apparently made by Ivan Charper and Bryan Shore Frazer which supposedly relied on responses made by teen-agers from the questionnaires that were designed; and the 1980 study conducted by A.V. Harrell and P.W. Wirtz that aimed to determine the unemployment rate of those who were previously employed at fast food chains as compared to those who stayed in school. In addition, some statistics and figures were cited to support other arguments. The assertion that teen-agers render long days and hours working at fast-food chains cited the Charper and Frazer study which disclosed that more than 30 hours per week were rendered by a third of the employees or approximately 33%; 20%

Location or existence of Atlantis Research Paper

Location or existence of Atlantis - Research Paper Example Whatever form these stories may take, they often invite debate, discussion, and controversy as scholars, historians, archaeologists, and academicians try to determine their merits. An example is the Epic of Gilgamesh that tells the story of the Great Flood, which is very eerily similar to the biblical stories of a similar deluge and the survival of a few people such as Noah and his Ark. This epic tells of the existence of a real king named Gilgamesh in the kingdom of Uruk in ancient Sumeria at around 2700 B.C.E. as proven by archaeologists. It so happened physical records of his ancient reign were found in ruins in today's modern Iraq. Another interesting epic is that of Saga of the Volsunga Clan which is partly based from the barbarian invasions during the so-called Great Migration Period (circa 400-800 A.D.) back in Central Europe when the Roman Empire was attacked by Goths, Vandals, Saxons, the Lombards, and Franks who were followed later on by the Vikings, Huns, Slavs, and Norman s. The Volsunga clan story may have been the basis of another more famous epic, which is the Epic of the Nibelungenlied of middle-high German period. This paper talks on a controversy that is not yet resolved satisfactorily, the existence and location of the lost world of Atlantis. Discussion (Section 2) The on-going controversy about Atlantis may never die down or eventually resolved because it is shrouded in mystery and obscurity. The absence of any physical evidence about its actual location or even its previous existence in history cannot be ascertained one hundred percent despite the best efforts of archaeologists and historians alike. However, Atlantis has an enduring attraction to some people who insist it had actually existed in human history while a few others also debunk this theory as far-fetched and a mere product of an active imagination. Whatever is the truth about Atlantis, various theories had been put forward by eminent people to advance their own beliefs about it a nd this paper examines five such theories. In particular, this brief essay discusses the merits of each theory while categorizing the theories into either belonging to the group which proves or disproves the very existence of a real Atlantis in the distant past. Before the probable location of Atlantis can be established, it is necessary to first determine whether Atlantis is real or not, which is decidedly a right way to discuss a topic as controversial as Atlantis. But before discussing its most likely location, it is extremely helpful to put things in context and perspective so a preliminary discussion is a necessity whether Atlantis is real or just a figment of imagination, a work of fiction, anything fantastical that was made up, invented, imagined, or fabricated by a brilliant mind. Atlantis comes from the Greek word meaning â€Å"an island of Atlas† as it was thought to be a gift given by the Greek gods to Poseidon. Atlas is one of titans in the Greek pantheon of mytho logy, the one usually seen carrying the Earth (depicted as a globe on his shoulders). Poseidon is one of the twelve gods on Mount Olympus whose domain was the oceans, and he is alternatively called as â€Å"God of the Sea† among ancient Greeks. The history or a story about Atlantis myth can be traced to Greek philosopher Plato who had used it in his stories. This is because Plato

Recommendation Letter Essay Example | Topics and Well Written Essays - 250 words - 2

Recommendation Letter - Essay Example In addition, from his diligent work, Jores proved to be an exceptional student with exemplary grades. Since Clinique Du Gros Chien Hospital serves Duala, the economical capital of Cameroon, Jores has remained pivotal in providing incredible services to our clients, a factor that for the last one year has increased the number of our clients and revenue significantly. He can work both independently as well as team player to achieve excellence in the desired outcome of the hospital. Jores has demonstrated a progressive interest in national environmental affairs and international development through our environmental education initiative. Jores utilized the opportunities that environmental program provided to display her good leadership skills when he successfully organized and implemented environmental group projects within Duala and its environs. Apart from Jores’ degree in MD from France, I understand that he intends to pursue masters in the same line any time from 2015. I would like to add that he has written excellent reports with the experience and exposure that he acquired from our hospital and beyond. I am, therefore, faithful that Jores Kenmoe possesses brilliant abilities, both, as a student and a professional, and I believe he would remain a great asset to any organization. For more details about Jores Kenmoe, contact me on +237

Motivational types Essay Example for Free

Motivational types Essay The hypothesis for this study was â€Å"Do certain types of personality traits determine individual motivational types? † The importance of this type of study has been recognized by many researchers. For example Tett and Burnett (2003) determined that recognizing different personality types could determine how an individual might be influenced by various motivational factors which in turn reflect how productive and viable an individual might be under different work environments. The impact of finding a direct correlation between personality traits, and motivational types, could be significant in many industry fields. This paper considered the following motivational factors: money, energy from other people, the work environment, professional growth and power. In general the findings were unsurprising. For example many people mentioned that money was a motivational factor in their workplace, yet those on a higher pay were more reluctant to say so. What was interesting in this study was the apparent lack of significance of power on an individual’s motivation to work. This would suggest that there are some personality types that firstly distinguish between power in the workplace and decision making, and secondly that some individuals prefer a position where they are not called on to make decisions. In relation to whether or not an individual classified himself as a ‘private person’ and how this impacted motivation, only one scenario was considered; that of being a private person and project planning. Although the results were not definitive there was a strong suggestion that those respondents who considered themselves private people, also liked a structured work environment. This is supported by other results in the study such as the significant number of people that enjoyed working in a team environment, and those who found the energy of people around them a motivational factor. The limitations of this study included a necessary restriction on the variables studied and the small number of participants in the sample group. However many of the results found in the variables studied were quite conclusive and further study with larger respondent groups and more variables associated with different personality types could prove useful in this area. References Tett, R. P. ,Burnett, D. D. (2003). A personality trait–based interactionist model of job performance. Journal of Applied Psychology, 88, 500-517.

Marcus Aurelius Essay Example for Free

Marcus Aurelius Essay Long before the 20th century Marcus Aurelius wrote :-If you are distressed by anything external, the pain is not due to the thing itself but to your own estimate of it, and this you have the power to revoke at any moment.. Whether or not Albert Ellis was familiar with these words, and he was certainly familiar with the works of many ancient writers and he made the concept his own. According to Ellis, described as a passionate skeptic by one biographer, Daniel Weiner in 1988, and as one of the most provocative figures in modern psychology by the writer of his Washington Post obituary, Marcus Franklin, we all experience everyday what he described as Activating Events and these prompt us to look at and interpret or at least think about what is happening around us. His principles can be described as ABC. A. The activating experience B. The resulting belief C. The consequence. Ellis felt that the language often used to describe our experiences can be unduly negative and pessimistic. In the introduction to his 2002 book ‘Overcoming Resistance: A Rational Emotive Behavior Therapy Integrated Approach’. He claims (page xi) that using words such as ‘ I am depressed’ gives the implication that depression is caused by circumstances we cannot control. He prefers the use of phrases such as ‘I depress myself’ or ‘I feel depressing’. In the same passage (page xii) he acknowledges that this narrow use of language makes it difficult to describe behavior and makes his writing difficult to follow. He came to the view that people were capable of controlling their feelings, as is obvious from several of his titles such as (1975)’ How to be happy though human’ ‘, ‘Sex without Guilt . ’(1958), A Guide to Personal Happiness (1982). Biography Albert Ellis was the eldest of three children born into a Pittsburgh, Jewish family. His father was a struggling business man, often away from home and his mother seems to have suffered from a bi-polar personality according to Ellis, which also resulted in her being rather a distant parent, often asleep when the children left for school and absent upon their return, leaving Albert to be responsible for his younger siblings. All three children worked to help family finances. He was a sickly child, having 8 periods in hospital in the two years from 5 to 7. His parents eventually divorced when Albert was aged 13. His difficult childhood made him, in his own words as quoted by C. G. Boeree in 2006 ‘a stubborn and pronounced problem-solver. ’ His early plan in junior high school was to become an accountant so that he could make enough money to retire while still young and then spend his time writing ‘the great American novel’. Most of his spare time was spent writing – plays, novels, poetry, essays. After some two dozen full length works had been rejected by publishers he realized that writing fiction was not for him. His biographers, Mike and Lidia Abrams tell how, after gaining a degree in business studies he later became a clinical psychologist having tried first in business and as a fiction writer. He found however that he was a very capable nonfiction writer. He began to produce work on Human Sexuality, slowing over time collecting material for a treatise ‘The Case for Sexual Liberty’ which was eventually published by the Seymour Press in 1965. This was a field of psychology relatively unexplored up until that point and upon which he soon became a noted expert and counselor. It was his success in this field that led him to look for a new career as a clinical psychologist. In 1942 he started to study for a doctorate of philosophy as a clinical psychologist. He chose Columbia University where psychologists were trained in the psychoanalytic method, a system he would later rebel against, choosing instead to encourage his clients to make active intervention. This was based upon his early experience when he cured his shyness by asking over 100 girls for cold dates in the Bronx Botanical Gardens and by making many appearances on public platforms as a peace campaigner. He didn’t get any dates, but, using this early example of cognitive behavior therapy, he claims he desensitized himself from his overwhelming fear of women. He completed his M. A. in 1943 and began a part time practice while still working towards his PhD degree. This was possible at the time because psychology was such a relatively new branch of medicine that there was then no system for the licensing of psychologists in New York State where he worked. Even before he obtained his doctorate Ellis began publishing psychological articles which were well received by his peers. One example of such an article was in 1946 when he wrote a critique of the many widely used personality tests, ‘A Critique of Personality Questionnaires’ that he felt were not sufficiently validated. His conclusion was that only one, the Minnesota Multiphasic Personality Inventory, truly met the standards of a research based instrument. Though out his life Ellis felt there was always more to be learnt about the human psyche. On the completion of his doctorate, Ellis sought further psychoanalytical training. As with most other psychologists of that era he was influenced by Freudian theories and is said to have believed that psychoanalysis was the best and deepest type of therapy available, something he would later refute. He was quoted by ‘Brainy Quotes’ as saying ‘ I thought foolishly that Freudian psychoanalysis was deeper and more intensive than other, more direct forms of therapy, so I was trained in it and practiced it. ’ Part of the reason for this change of mind was that Ellis found it didn’t matter how often he saw his patients –daily, bi-weekly, weekly or fortnightly – it all seemed to make little or no difference, they seemed to improve at the same rate. If, he thought, the frequency did not make any difference, what about the content. Gradually Ellis became less passive than was usual in Freudian style when listening to his patients and began to put forward his own ideas as to how they could make improvements in their lives. He was able to recommended principles that were derived from the works of ancient writers such as Epictetus who said ‘Control thy passions lest they take vengeance on thee. ’ and Marcus Aurelius who is quoted as having written ‘Be content to seem what you really are’ as well as Spinoza , quoted as having said ‘Do not weep; do not wax indignant. Understant and the more modern Bertrand Russell whose claim , as quoted on Brainy Quotes was that ‘Fear is the main source of superstition, and one of the main sources of cruelty. To conquer fear is the beginning of wisdom. Ellis realized that these ideas helped his patients, and by 1955 he had totally abandoned Freudian psychoanalysis instead he would concentrate upon changing his client’s irrational behavior patterns by making them face up to the irrationality of the beliefs that were the basis for such behavior and then persuading them to adopt more realistic ones.

Corporate Governance on the Capital Investment Decision

Corporate Governance on the Capital Investment Decision ABSTRACT This paper investigates the factors that determine the sensitivity of the investment-cash flow relationship. The Q model assumption is used to relate the investment opportunities available to the managers with its liquidity constraints due to asymmetric information and managerial discretion of internally sourced free cash flow. The result purports that there is a positive relationship between the degree of the Investment-Cash flow relationship and Q, found in low or no dividend paying firms. It is evident that the results are in support of Myers Maljuf (Myers Maljuf, 1984) pecking order theory of the investment-cash flow relationship. Introduction Overview Through various studies over the years, different scholars and financial analysts have been able to establish a relationship of cash flow on firms investment spending. It was significantly proven by (Modigliani Miller, 1958) that a firms financial status is irrelevant for real investment decisions in a world of perfect and complete capital markets, after controlling for the cost of capital. In case of managerial discretion, based on (Jensen, 1986) free cash flow theory, firms increase investment (including projects with negative present value) based on the availability of cash flows with incentive of increasing firms value beyond level of optimal investment. Moreover, an agency costs also appreciate the borrower net worth by charging a premium on the external financing. The discussion above explains that the firms investment decisions are dependent on the availability of internal funds, as cost advantage over external fund is evident. While choosing an appropriate capital structure, there are certain trade-offs which affects the decision. These trade-offs include tax advantage through acquiring debt against the bankruptcy cost which advocates the use of equity. Keeping this in view, various different models have been supported to explain this corporate capital structure behavior. Pecking Order Theory, initially mitigated by (Donaldson, 1961) describes the financing practice as prioritizing the means of financing, which is necessary for the management to counter against asymmetric information. Either they should generate the funds internally or acquire funds externally through debt rather than equity. Implications to the pecking order theory involves the positive impact of leveraging on the market price, which means, financing through debt sends a positive signal into the market about the firms future prospects. Furthermore, intermediaries also undermine the role of management as the financial intermediaries such as investment banks function as the insider to the firm. Consequently, keeping an eye on the firms operations and influencing the firms capital financing decision. However, Pecking order theory of (Myers Maljuf, 1984) argues that the firms operating in imperfect or incomplete capital markets where the cost of external capital exceeds that of internal funds, the financial structure may be appropriate to the investment decisions of companies facing uncertain prospects. Gauging the level of corporate investment in any firm is based on the corporate governance; market position of a firms asset against its book value can be termed as Tobins q ratio. Identified by (Chung Pruitt, 1994), Tobins q as proportion of firms market value to replacement cost of its assets. Tobins q can be considered an effective tool for determining financial performance as the data can be collected readily from a balance sheet. When calculating Tobins q ratio, the replacement cost can be determined approximately by the book value of firms plant and equipment. Approximate q can be replaced with the actual Tobins q to make the calculations unproblematic and data can be readily available without any discrepancies. Problem Statement To study the impact of corporate governance on the capital investment decision through cash flow and Tobins q interaction in relation with Capital Investment HypothesEs H0: Firms cash flow having a significant impact on its capital investment will be linked with high Q values. (FCF Theory) HA: Firms being liquidity constrained due to least payout will have significant investment-cash flow sensitivity, and will be linked with high Q values in the market. (PO Theory) Outline of the study The report contains the contemplation of research data that will study the phenomenon of cash flows and investment discussed earlier in this paragraph. The study categorizes firms according to characteristics (such as dividend payout, size) which will help measure the level of constraints faced by firms. The study will help readers to understand the complexities of Pecking order theory and Free Cash Flows concept with regard to asymmetric information available and corporate governance which influences decision of the firms. To measure the effect that cash flow-financed (internally sourced) capital spending and Q has on firms investment, Ordinary Least Square Regression model will be used to estimate the function. To compute the influence on the Investment, instruments used are: (1) Cash Flow, (2) Approximate q, and (3) an interaction of both variables are created. Through studying the parameter estimates of interaction variable, positive influence on investment will support the Pecking Order hypothesis and negative influence will govern the Free Cash Flow hypothesis. The equation hypothesized in the next part is linear. Definitions Pecking Order Theory: (Myers Maljuf, 1984): à ¢Ã¢â€š ¬Ã…“A firm is said to follow a pecking order if it prefers internal to external financing and debt to equity if external financing is used.à ¢Ã¢â€š ¬? Free Cash Flow Theory According to (Jensen, 1986), à ¢Ã¢â€š ¬Ã…“free cash flow theory, high cash flow and low debt create agency costs associated with conflicts between manager and share holder over the payout of this free cash, which is the cash left after the firm has invested in all available positive net present value projects.à ¢Ã¢â€š ¬? Capital Structure à ¢Ã¢â€š ¬Ã…“A careful and systematic analysis of how claims against a corporations assets can or should be determined, assessed, and accounted for.à ¢Ã¢â€š ¬? (Riahi-Belkaoui, 1999) Capital Investment Decision à ¢Ã¢â€š ¬Ã…“Capital Investment decisions are those decisions that involve current outlay in return for a stream of benefit in future years.à ¢Ã¢â€š ¬? (Drury, 2006) Tobins q à ¢Ã¢â€š ¬Ã…“Tobins q is a measure of investors expectations concerning a firms future profit potential. It is defined as the ratio of the market value of a firm to the replacement cost of its assets.à ¢Ã¢â€š ¬? (Strecker, 2009) Literature Review Vogt (Vogt, 1994) explained the capital spending behavior of companies with respect to change in dividend cash paid, cash flows, sales, and market value of assets. The regression equation models the variables to proportion of fixed assets, and distributes the firms data in segments of Dividend Payout Groups and Asset Groups. Primarily, Dividend Cash has a strong negative impact on capital spending; it explains that in order to finance additional fixed investment firm needs to sock cash by reducing their dividend. Cash flow, Sales, and Q Ratio having a positive coefficient demonstrates that with an increase in future cash flows, the firm will improve its capital spending. A relationship has been developed between the firms investment decision and the firms financial status by Cleary (Cleary, 1999), financial status has been studied with respect to the liquidity constraints. The data is classified into groups through a discriminant analysis on basis of dividend payout policy. Groups taken into study have made possible to identify firms which are more financially constrained more likely to be investment-cash flow sensitive, furthermore, availability of internal sources of funds have a greater impact on firms with high credit worthiness, and vice versa. It has been proposed that the various ownership structures make managerial decision based on the interaction between investment and the firms liquidity constraints. The study conducted by Dedoussis Papadaki (Dedoussis Papadaki, 2010) mentioned that the management can be held separate from its ownership, even on basis of the nationality of the company. On the other hand, it also explained that the relative shareholding of CEO and the controlling shareholders can also be the basis of separation. The sample used in the study was separated and grouped on basis of dividend payout, asset size of the firm, age of the firm, source of control, and kind of ownership. On the given sampling criterion; greater asset size firms, older firms, lower Q (high investment opportunity), and high dividend payout firms showed higher cash flow sensitivity towards investment. Findings support that the Low Q, small, and new firms under the generalized model are facing asymmetric information problems. Indeed these firms are expected a priori to face financing problems that affect the cost of their external financing. On the other hand, low Q, old and low dividend firms are more likely to face managerial discretion problems that result to over-investment. The impact of Tobins Q is mainly used to determine the investment opportunity of the firm. In this article, marginal Tobins Q has been taken to evaluate the firms investment and Research Development expenditures. The asymmetric information (AI) hypothesis proposed that firms provided with a profitable investment-project may not be able to source it through internal cash flows and the high financial cost of borrowing funds externally due to lack of awareness of firms investment opportunity in the capital market. On the other hand, agency or managerial discretion (MD) hypothesis constructs the investment-cash flow relationship on the assumption that managers are well qualified in context with proficiency they obtain from managing a huge and fast paced firm and thus exceeding the wealth shareholders beyond their expectations. (Gugler, Mueller, Yurtoglu, 2004) Taking in viewpoint the impact of capital structure on the capital investment decision, firms investment demands is the more susceptible towards cost-of-capital or tax-based capital incentive. Whereas, capital structure seems irrelevant as against internal sources of funds can be effectively substituted with sources of funds generated externally. The size of the investment project can be a deterministic factor towards it. Fazzari, Hubbard, Peterson, Blinder, Poterba (Fazzari, Hubbard, Peterson, Blinder, Poterba, 1988) explicates that cash flow/investment relationship is more sensitive when taken in reference with firms dividend behavior. Comparison based on firms having more or less liquidity constraints can be further improved when compared on a division based on the scale of the firms, i.e. young or small firms versus large ones. This way the researchers can address the problem of firms lacking the asymmetric information. Under the impression where capital investments decisions mainly pertains to the capital structure or choosing the appropriate source of investment, Schaller (Schaller, 1993) conducted three different empirical tests to determine that information asymmetries have a huge influence on the firms investment behavior. Differences among the informational base of investors and creditors was also considered a capital market imperfection. Ownership status and age of the firms has an impact on the cost of equity financing, mature firms pay comparatively less price for it than young firms. Same aspect goes for the firms with concentrated with comparison to dispersed ownership. Borrowing is considered a more rational source for investment-projects. Pledgeable assets generate greater borrowing capacity, which afterwards makes firms invest more in pledgeable assets. As suggested by Almeida Campello (Almeida Campello, 2007), such a phenomenon can be termed as a credit multiplier. In case of financially constrained firms, a multiplier relates to the sensitivity of firms investment-cash flow relationship that is reflected as the increase in the tangible assets of the firm. Therefore, it is proposed that with fewer tangible assets firms are more likely to be financially constrained. The sensitivity of investment-cash flow relationship is evidently influenced by the tangibility of a firm, as latter discussed. Managers while making capital investment decision considers externally-sourced funds costlier, therefore, overconfident managers over assessing the profitability of an investment-project invests more when having abundant internal funds to utilize. However, deciding not to source externally in case where they are short of internal funds to generate. There has been an evidence of significant relationship between the managerial discretion and investment-cash flow sensitivity. Equity concentrated firms are more likely to be influenced by overconfident managers, unless compensation tools can be used to reduce the effects of managerial overconfidence. (Malmendier Tate, 2005) Goyal Yamada (Goyal Yamada, 2004) have explained the impact of asset pricing in the stock market against investment-cash flow sensitivity. Overvalued stock prices triggers an increased in investment spending and are cut back when stock are being undervalued, consequently, inflated prices collateral assets attract higher level of external financing. Inflationary pressures primarily determined by the economic monetary policy impacts on the variation of cost on external financing, though it reflects highly on cost of external financing, marginally impacts less on the investment-cash flow sensitivity. It has been observable that less financially constrained firms have significantly higher investment-cash flow sensitivity. Characterizations of firms based on financial constraint can sometimes create confusion. Firms having unusually high cash holdings can either be characterized as unconstrained based on the opportunities it has to invest or constrained based on the assumption that it needs to have a precautionary savings to invest in future investment projects. Therefore, financial constraints cannot be used as an influential determinant for investment-cash flow sensitivity. (Kaplan Zingales, 1997) Hu Schiantrlli (Hu Schiantarelli, 1998) put into picture the effect of general economic factors and various firms characteristics on the value of the firms net worth. Mainly financial status is the most important determinant for the level of asymmetric information problem that managers face. A strong balance sheet position can reflect good sign of firms performance which enhances the market value of the firms asset to its stake holders, mainly investors and creditors. Q models assumption also assists in determining the sensitivity of the investment-cash flow relationship, where the indicators determine the investment opportunity and the sources of funds to choose from. Understanding the market influence in proxy of q can also give a clear picture to the movements in the firms investment over a period. Net worth of firms helps manager determine if the sourcing of funds externally is a viable option in contrast to the investment opportunity which underlies. (Hubbard, 1998) Research conducted on the investment-cash flow sensitivity addresses many aspects of the firms financial strength. Further study by Calomiris Hubbard (Calomiris Hubbard, 1995) shows that when firms tax taken under investigation also reflected a significant influence on the volume of spending on investment-projects. They explored the impact of surtax margin, as a tax experiment, on the cost of internal and external funds. Surtax when levied on undistributed profits, obligate the firms to incur certain cost on the internal funds. This effects the managers decision to invest and is also reflected on the investment-cash flow sensitivity against the surtax margin. As a result to evade burden of higher cost on internal funds, firms with high surtax-margin exhibits elevated sensitivity in investment-cash flow relationship. Quan (Quan, 2002) discusses the Pecking Order theory with reference to the Modigliana-Miller proposition that works under the assumption of perfect market. Here it is stated that value of the firm is irrelevant and based on a few limitations the choice of financing can be determined via gauging the strength of the firm. These factors pertain to the imperfect market and influence the managers to make their capital investment decision. Once the assumptions are released the financing structure shows a clear picture. The association between Free Cash Flow theory and Agency theory has always been under the limelight when there is a question of retaining the undistributed profits. FCF Theory taken under consideration gives out an option to the management to hold on to excess cash sacrificing the shareholders opportunity cost. These excess funds can be generated to better internal operational efficiency or at managers discrepancy to source its investment-projects. (Wang, 2010) Research Methods The chapter explains the model used in the given research study. The study focuses on analyzing the influence of Cash Flows and Tobins q on Corporate Investment. The equation represented by a dependent variable as a ratio of capital spending to the beginning net fixed asset (I/K) predicted by independent variables: (1) ratio of cash flow to the beginning gross fixed asset (CF/K), and (2) beginning Tobins q (Q). Method of Data Collection Main source of collecting the required data is from secondary sources. It includes the Balance Sheet Analysis of Joint Stock Company listed in Karachi Stock Exchange provided by State Bank of Pakistan consisting of data of our relevant variables. The data was taken in annual terms to conduct this research. Sampling Technique The Convenience sampling or grab or opportunity sampling would be use in this research. Sample population selected because it is readily available and convenient. Sample Size The sample period taken under study covers 8-years period beginning at the start of 2000 and ending at the close of 2008. The data was taken from a sample of 70 (non-banking and non-financial) companies which are listed on Karachi Stock Exchange and included in KSE-100 index. Research Model Statistical technique Ordinary Least Square Regression technique is used to study the impact of variables included in the study. It helps studies the relationship between a dependent variable and several independent variable. It also assumes the relationship to be linear or à ¢Ã¢â€š ¬Ã…“straight line,à ¢Ã¢â€š ¬? where the values of predictors lies directly proportional to Criterion variable. SPSS Software is used to develop the regression model and evaluate the influence of predictors on dependent variable. Results Findings and interpretation of results Aggregate Sample: Table : Represents the model summary of regression estimates for the full sample of 69 firms The predictors, i.e. main effects of Cash Flow and Tobins q and an interaction variable of both combined, included in the model explains 78.5% of Investment (Table 1) shown mentioned as R Square. Least variation in Adjusted R Square suggests that the variable to observation ratio in the given model is sufficient. Casewise diagnostic was also conducted to eliminate the outliers in the data to improve the results. Table : Studies the F-statistics to test whether the model predicts the dependent variable significantly The F-statistics (Table 2) is significant and it determines the regression model with the given predictors can significantly predict the outcomes at a 0.05 significance level. Table : The parameter estimation for full sample of 69 firms with respect to dependent variable, t-statistics is used to test the null hypothesis ÃŽÂ ²1 = ÃŽÂ ²2 = ÃŽÂ ²3 = 0 The coefficient values of all predators included in the test are significant at a 0.05 significant level (Table 3), which shows that they have a strong influence on the investment of the firm. The standard coefficient shows that Cash Flows have a much greater impact on Investment than market value on the firm, which is exemplified through Tobins q. Dividend Payout groups: Table : Presents the sample statistics for 69 KSE listed (non-banking and non-financial) companies which are included in the KSE-100 index. The three rows distribute the statistics into High, Medium, and Low payout policies. Average dividend-to-income ratios of greater than 0.35, between 0.35 and 0.10, and less than 0.10 define High, Low, and Medium dividend-payout firms, respectively. While studying the dividend-payout groups (Table 4), the descriptive helps to identify characteristics to confirm whether the data being studied has the authenticity and the behavior pattern which commonly related to the groups assigned. The values of Investment, Cash Flow, and Tobins q associated with the groups are in complete correspondence with the hypothetical occurrence. Firms having a higher (lower) dividend payout have greater (lower) market value, and lower(higher) level of cash flows and investments. Table : Represents the model summary of regression estimates of 69 firms split by High, Medium, and Low dividend-payout policies. The model helps explains 81.9%, 66.7%, and 80% data in High, Medium, and Low dividend-payout firms (Table 5), shown in R Square. Least variation in Adjusted R Square suggests that the number of observations is sufficient with respect to variables in each group separately. Table : Studies the F-statistics to test the null hypothesis of ÃŽÂ ²1, H = ÃŽÂ ²1, M = ÃŽÂ ²1, L The F-statistics (Table 6) in each dividend payout group is significant and it determines that each regression model with the given predictors can significantly predict the outcomes at a 0.05 significance level. Table : Shows the parameter estimation for each payout groups with respect to dependent variable, t-statistics is used to test the null hypothesis ÃŽÂ ²1 = ÃŽÂ ²2 = ÃŽÂ ²3 = 0 The coefficient values of predators in High and Low dividend payout groups are all significant at a 0.05 significant level (Table 7), which shows that they have a strong influence on the investment of the firm. Except for Medium dividend payout group, which has insignificant coefficient values of Tobins q, showing no impact on the investment. The standard coefficient shows that Cash Flows have a much greater impact on Investment than market value on the firm, which is exemplified through Tobins q. Hypothesis Assessment Summary Hypothesis Independent Variables B t Sig. Comments Firms cash flow having a significant impact on its capital investment will be linked with high Q values. (FCF Theory) Cash Flow ÃÆ'— Q H0: ÃŽÂ ²3 ÃŽÂ ²3,H = .135 5.295 .000 Rejected ÃŽÂ ² 3,M = .072 .991 .324 ÃŽÂ ² 3,L = .140 5.482 .000 Firms being liquidity constrained due to least payout will have significant investment-cash flow sensitivity, and will be linked with high Q values in the market. (PO Theory) Cash Flow ÃÆ'— Q HA: ÃŽÂ ²3 >0 ÃŽÂ ² 3,H = .135 5.295 .000 Accepted ÃŽÂ ² 3,M = .072 .991 .324 ÃŽÂ ² 3,L = .140 5.482 .000 Dependent Variable: Investment (I/K) Table : Summarizes the results and explains that the hypothesis accepted is directly in correspondence with the aggregate hypothesis. As illustrated (Table 8) capital spending of low payout firms is positively and strongly influenced by the interaction term, consistent with the PO hypothesis, the parameter estimate for the high payout firms are also positive but marginally significant. Conclusion, Discussions, Implications And Future Research Conclusion The results illustrated above demonstrates that the positive relationship between the degree of the Investment-Cash flow relationship and Q represented latter in the aggregate data (Table 3) is concentrated in low or no dividend paying firms. This finding is in further support with the PO hypothesis. Discussions The objective was to study and test the causes of universal relationship between Cash Flow and Investment Spending. Hence, two hypotheses were included in the research to study the source of this relationship: the free cash flow hypothesis (FCF) hypothesis, which works on the assumption that managers prefer investing its free cash flow excessively into investment projects that are not profitable, and the pecking order hypothesis (PO) purports that managers are prone to investment comparatively less than the opportunity provided due asymmetric information-induced liquidity constraint. As advocated in favor of Pecking Order Theory by (Fazzari, Hubbard, Peterson, Blinder, Poterba, 1988) and many others, for groups which consists of small firms with low-dividend payout to fund capital spending, exhibits heavy reliance on cash flow and cash changes. The relationship can be more significantly studied when the impact of larger q value is associated with this group. Evaluating the impact of corporate governance on investment-cash flow relation requires a critical judgment as to how do the firms cash flow and the existing market value influence the investment decision. Financially constraint firms may have a larger impact on liquidity associated matters and managers might take discretion in choosing the right sources to tap. Agency cost may be involved in making such a decision where managers may consider paying dividend as a higher opportunity cost as it reduces the firms free cash flow to exploit new profitable investment projects. Implications and Recommendations In the current market situation where external pressures existing can also be taken into proxy. When managers making a capital investment decision they need to take in view other non-financial aspects that also influences the decisions to a certain extent. Furthermore, financial intermediaries having a certain level of involvement and sharing information sensitive to the market can also be a major factor that might be giving a varying result against Investment. Investing in profitable-investment projects can bring in greater resources to the firm in future and it entails a huge decision burden upon the shoulders of the managers. Shareholders expecting to earn a greater return through investing in them can also be undermined when manager decided to have a low payout policy. Funds generated internally is a possibility where there is a healthy cash flow, but it is also preferable if this free cash is invested into marketable security for allocating the resources into a profitable venture for a time being to make it a positive impression. Future Research In future studies there may be more aspects of cash flow-investment relationship which can be studied for assessing the degree impact it has on this relationship, i.e. sales, debt performance, capital structure, firm size, etc. The research study may also be improved if the observation of firms are increased that will in turn reflect a more clear picture about the relationship in the current scenario.

Greek Gods - The Historical Background Essay -- Classics

Greek Gods - The Historical Background Greek gods were an essential part of Greek mythology. Our proper knowledge of the ancient Greek gods can be traced back to Homer who wrote The Iliad and The Odysse. It is also believed that the myths were heavily influenced by the Mycenaean culture that existed in Greece from 1700 to 1100 BC. However there is some evidence that the beginnings of Greek mythology and beliefs can be traced back to the ancient Middle Eastern cultures. There are many similarities between the mythology of these ancient Middle Eastern cultures and the ancient Greeks. Greek Gods - Religious & Social Background The Greek gods were created in order to explain the world around them in order to put a reason or explanation behind everything, and to provide entertainment for the masses. In the Greek religion however there was not a sole source or reading that could be studied and preached, i.e. Muslims study the Koran, and Christians the Bible. However the Greeks were broader and less strict in the way they practised their faith, each different Greek city-state would devote itself to a particular god or a set of gods, and depending on the location of the state the characteristics of the gods could vary many city-states erected temples to their particular gods, and these gods were honoured in festivals and animal sacrifices. The ancient Greek gods were believed to take on human form and lived in a society similar to human society, ...

Emersons Philosophy Essay -- Emerson Philosophy Philosophical Essays

Emerson's Philosophy Emerson placed an emphasis on three primary aspects of life that illustrate the most crucial elements of humanity; nature, education and action. According to his theology, nature is the chief facet and because of its universal features, it arguably encompasses the remaining two tenets. Nature supports progress and action by providing physical accommodations in the form of material assets while simultaneously feeding the emotional hunger of man with inspirational beauty. His entire philosophy is embedded in the belief that an external presence shapes and influences the spiritual, intellectual, and physical elements of the individual. In fact, virtually every aspect of man can be traced back to the perfect order of nature. The way in which one views the phenomenon of nature can define the character of that individual. How one interprets the sight of nature has the ability to identify that individual as a poet. One who views nature simply and at face value like a child rather than manipulating and falsely analyzing as an adult would, is a poet. Emer...

St John The Evangelist :: essays research papers

Throughout the human history there have been many saints who have lived among us. They followed Jesus’ principles and they did God’s will. One of the earliest saints was St. John, and he lived during the times of Jesus. His childhood and his date of birth are unknown, but it is well known that he was one of the best followers and students of Jesus. St. John was the son of Zebedee, and the brother of St. James the Great with whom he was brought up to the trade of fishing. While Jesus was spreading his teachings and his miracles St. John entered public ministry. Then in his first year of public ministry our Lord called him to be an Apostle. He was called to be an Apostle with his brother, as they were mending their nets on the sea of Galilee. St. John was the youngest of all the apostles, and outlived the others. It is hard to list in details, all the challenges that St. John faced. His challenges were truly followed by God’s will and helped many people. St. John was one of the first ones who understood and studied how a person should live, how should he behave, and how moral his life should be. He was one of the first to follow those holy principles, and show them to others. One of his greatest challenges was writing a gospel. St. John the Evangelist is mostly known for writing a fourth Gospel. If you would ask any person to list his challenges almost everybody would tell you that he wrote a gospel. It is believed that he wrote a Gospel at the year of 96, after the death of Domitian. His object in writing it he tells us himself: â€Å"These things are written that you may believe that Jesus is the Christ, the Son of God; and that, believing, you may have life in His name.† In order to write a Gospel you have to be truly involved in holy life by yourself. St. John went threw Jesus’ teachings and he opened himself to Jesus. All of his life he spent by expressing love to others and by implementing Jesus principles. Thus before writing a Gospel, St. John experienced it all on himself. He also wrote three epistles. The first is called catholic, as addressed to all Christians, especially his converts. The other two are short, and directed to particular persons, to Gaius and to local church.

Online marketing vs Traditional marketing Essay

Traditional marketing have many advertisement methods that have been used in the past. By saying this, we can assume business cards, print ads in magazines or newspapers, posters, radio, television commercials, brochures and billboards. Traditional marketing uses anything as long as is not digital to â€Å"brand† your product or company logo into the minds of people. People sometimes can find you or your business in a network or referrals and they will definitely come to trust you and the work you are doing. And digital marketing also still evolving and will be updating as long as technology continues to make advancements. Digital marketing includes things such as a website, banner ads, social media mentions, or YouTube videos for example. The goal of digital marketing is for people to find you. They might find you or your web-site through an organic search, paid search, social networking or by reading a post or comment that you have published online it can be an ad or an article. Once they become familiar with your brand through your online presence, a trust will develop. With the help of traditional marketing a business can reach a specific target audience that may not have access to the internet and this can be the only way to reach certain people. Certain customers may also prefer a physical printed piece to view. On the other hand, a key digital marketing objective is engaging customers and allowing them to interact with the brand through servicing and  delivery of digital media. This is achieved by designing digital media in such a way that it requires some type of end user action to view or receive the motive behind that media’s creation. 2. CONTENT a) Digital Market When is it used? Some companies have some big goals that they want to achieve, in order to make that happen they try to get customers from everywhere. In this case, digital marketing is going to be very effective for them as they want to advertise in the whole country/continent or world. Using internet or smart phones as a medium to advertise your product will be nothing difficult for a digital marketing strategy. Why using digital marketing: Digital media is so deep that consumers have access to information any time and any place they want it. Forgotten are the days when the messages people got about your products or services were sent by you and having info about only what you wanted them to know. Today, we use digital marketing because it makes our business life easier and faster. We can also consider saying that more effective because people do not use the old method as much as they used to do. How to use digital marketing: Marketers use digital marketing to make more people know about their product. Sending info out about your product trough internet in some famous web-pages such as Facebook, Hotmail, Yahoo or Twitter, makes it easier for people to see it and put some interest if they find it interesting. Just open a web-site and expose or advertise your business and all the product you offer. You must make it look interesting and colourful to attract visitor’s attention so that more people will know about your business. Big companies such as Amazon and a big name as EMIRATES use digital marketing and that helps those companies to be known by a lot of people worldwide. b) Traditional Markets When to use it? How to use it? Direct Mail: When it comes to your direct mail strategy, here’s the thing: Shift your mind-set dramatically. If you’re used to direct mail, I think you’ll find the easiest transition into more friendly people turf in email marketing. It will help promote new products or services in a similar way to direct mail. One piece of content for one person, but allows you to personalize your messaging more easily, and more efficiently, than personalized print marketing. These efficiencies will enable you to reallocate budget to other aspects of your marketing strategy. Most importantly, it’s measurable. Direct mail is often feast or famine, but email marketing is easier to track and improve upon. By analysing open and click through rates, you can more effectively make the necessary adjustments to increase conversion rates. Email Blasts to Purchase Lists: Before you consider ditching your entire email strategy, make sure that a lot of people are already utilising it. According to a study by Pew Research Centre, 90% of people use the internet to send and receive email at least occasionally. Print and Advertising: As people focus more their attention to a second screen, so should you. There are lots of video online that people are watching. Find out where, and look into methods of advertisement there†¦ or better, yet creating your own online videos and showing up your YouTube presence. The same applies to print, people prefer digital subscriptions to the touch and feel of paper. Considering the nature of your product or service, shift your budget away from physical media as much as possible in order to attract a more digital, multi-screen generation of buyers. 3. ADVANTAGES AND DISADVANTAGES OF TRADITIONAL AND DIGITAL MARKETS. a) Advantages of Digital Marketing: Reduced cost: a business can develop its online marketing strategy for very little cost and can potentially replace costly advertising channels such as Yellow Pages, television, radio and magazine. Simple to measure: One can see in real time what is or is not working for your business online and you can adapt very quickly to improve your results unlike in the traditional method. Brand Development: A well utilized website with quality content targeting the needs and adding value to your target audience can provide  significant value and lead generation opportunities. The same can be said for utilising social media channels and personalised email marketing. b) Advantages of Traditional Marketing: New marketing methods do work and can increase a company’s client base, completely replacing traditional marketing with the latest marketing techniques can prove to be dangerous. Traditional methods have a high success rate and that is proven. Internet methods are subject to clients or customers having access to an online medium and being Internet savvy. With traditional marketing, anyone with a newspaper, mail service, television or radio can learn of your business or service. Rather than customers going online to find your business or service (and possibly stumbling on your competitor’s website), you bring your business or service to potential customers with print advertisements and other traditional methods. c) Disadvantages of Traditional Marketing Price: Traditional media buys are usually more expensive than newer forms of advertising. In addition to the cost of buying TV spots, you may need to pay for the development of your commercials. Harder to Target Audience Print and broadcast outlets provide media kits with audience demographics, but once a magazine is mailed, a paper is delivered or an ad is broadcast, you don’t know who actually read, saw or viewed your ad. Less Information The message you can deliver with traditional advertising is much more limited compared to newer forms of communications. If you can get people to your website with the click of a banner ad or link, you have almost unlimited opportunities to deliver page after page of information to customers. With print and broadcast, you must communicate your message within a few square inches of space or in 30 seconds. d) Disadvantages of Digital Marketing Lacking an actual presence: The customer struggles to actually feel or decide to try on the merchandise which may be a restriction for several products. Nevertheless a study of customers of cosmetics services and products suggests that e-mail marketing may be used to interest a customer to search  well for a shop to get one of these solutions or even to consult with sales representatives. Hard to tell if individuals are lying: There’s too much informative data on the World Wide Web today, it’s often difficult to differentiate between quality and garbage. Lots of the garbage is directed at newcomers. Lots of Information: Once more we reach the section of their being truly a large amount of info on the World Wide Web. It might be too much good data as well. There is a lot of competition for a business, this can make a person more troubled than if there have been given lots of garbage. You will possibly not have the ability to tell whom to choose. CONCLUSION Traditional marketing and digital marketing are two different ways of advertisement that have been applied for marketers since the old ages till the current time. Considering the points we have covered above, we come to conclude that each type of marketing is effective depending of the person we are advertising it to. REFFERENCES: 1. http://www.businesszone.co.uk/blogs/robbo75/totally-digital-marketing/10-benefits-digital-marketing-v-traditional-marketing 2. http://digital-marketing-strategy.weebly.com/digital-marketing-vs-traditional-marketing.html 3. http://smallbusiness.chron.com/advantages-disadvantages-traditional-marketing-25573.html Valencia Higuera, n.d

Multimedia

Report on Holiday lapse Introduction of multimedia system system Multimedia groundwork be defined as the technology winsome a variety of media, including text, audio, boob tube, artwork and animation either separately or in combination, victimisation computer to excrete ideas or to disseminate information. Multimedia computer programing or multimedia authoring is the final be of multimedia start production.The most authorized variant of multimedia cat instauration and development because the out put of the word form will be the fin everyy construe title that will reconsideration and redesigning ends with this phase. Creatures of Jurassic period though their time corpse is unimaginable, are coming alive on the sliver screen with their huge roars and fusses. The fount fighters seen to fly right above the heads in the new CD games and professional fictional character music is issuing out of the somber business.Multimedia is no more a fancy, and a mandatory. Mult imedia Programming indorse Multimedia Authoring Multimedia authoring refers to that summons of development a multimedia vomit up, victimisation change parcel of lands and utilities exclusively meant for this purpose. The developing of a multimedia project title, using PVC++ or developing a art redact footwear package like key fruit Shop Pro squirt be called as multimedia programing. Developing a multimedia project title using Asymmetrys Multimedia Tool box crapper be Multimedia Authoring.Multimedia software project, using any typical programming environs/ Language or tool (mostly GU) and make use of various media files and integrate them. It doesnt posit expert programming skills or intimacy for project development. Step that precede Multimedia Authoring Process The final form of tier board containing all interface designs, Nava chromo around mapping structures and all the details-approved by the project draw should be ready. The media capabilitys to be apply in the Initial screens or frames like the background Graphics/ Digital ph wizard and so forth Just be ready. As the Authoring process proceeds rest of the media contents bear be developed. Decisions on which authoring environment / package to use throw away been finalized after all considerations. Authoring Methodologies Authoring tool, package, environment or platform uses some fundamental methodology, for developing the multimedia project. almost tools, even offer the flexibility to switch over from one methodology to a nonher(prenominal) whenever the need arises. Frame or rascal found Authoring Tools.Data Verification. The general content time developed in the earlier phase of multimedia project design, must flat be rearranged to suit the multimedia finishing development environment. This process, specifically called Mapping or seafaring Mapping result in whats called a Navigation Map or Nava Map. Linear Structure, vertical Structure, Non- Linear Structure and Composite Media fill Design and breeding Audio Eclipses, Graphics, liveness and Video Eclipses developed for a token project, can be called as media content.Audio vs.. Graphics, keep vs.. Graphics, Video vs.. Animation and Video vs.. Graphics. interface Design and Development Process The multimedia information, thats available in various forms, has to be presented in a amicable carriage to the user. Its only with the help of interface design, that, one producer distinguishes his title from others because the nature of media content are almost the same a few . Wave audio files, . Aviva video files and many other bitmap graphics?the way in which they are presented, does the magic.Back Drops Buttons and Icons bosh embarkation Techniques Story Boarding proficiency for developing animations, even during the Story Boarding stage itself, he may have the opportunity to express his authoring or programming problems, if any. Sometimes, a design or divulge methodology that seems to be the b est option, may invite some troubles in programming, and in other case, the media overhead may intumesce exceed the permissible limit.Delivery Design and Development The media, in which the project is going to be delivered, also forms a part of project design. Though, in most of the cases, the choice is special to CD-ROOMS because of the sheer volume of the project material. In some rare cases wherein the size of the carry off is small without complicated video, animation etc. Even floppy disk can be used. Concerning Project Holiday touch on A re differentiate is a take aim used for relaxation or recreation, attracting visitors for holidays or vacations. renovates are places, towns such as Newport, Rhode Island or Switzerland, or larger regions, like the Adirondack Mountains or the Jersey Shore. A resort is not merely a commercial founding operated by a single company, although in the late twentieth century this sort of facility became more common. Such a self- contained reso rt attempts to append for all or most of a vacationers wants while engaging on the premises, such as food, drink, lodging, sports, entertainment, and shopping.Intend of project Resort is managed by Holiday Resort, an India based company whose head office is in Gujarat. Company started its operation in work on 31, 2000. Our company provides all types facilities such as Casino, Games, Health & Beauty, Swimming, Golf, Restaurant, Meeting & Conference for attracting the visitors and entertainment them. Project Classification Holiday Resort multimedia project is a project that gives entertainment to the visitors, they can enjoy on that point holidays by various types of motion provide by us.

Anne Hutchinson

Governor Winthrop had a ream to get to a puritan society with strict rules on his metropolis on the hill. He was non going to let Anne Hutchinson, a forceful fair sex with unique ghostlike beliefs, decompose his plan. Anne developed a respectful reputation during her early years in New England as a midwife, healer and a devout Christian. It was because of this reputation and her general magnetic genius that drew race to her. She was an intelligent cleaning lady, which was rare, so multitude precious to listen to what she had to say.This would have been fine, except what she wanted to talk about was her religious beliefs. A womanhood preaching In a puritan gamey dependance was unacceptable and was not to be tolerated. Although, the rigid willed Anne, who finally had the liberty to express her religious beliefs was not about to quit. A woman, preaching her religious beliefs right(prenominal) the church walls, was sufficient enough of a evil to bring Anne Into trial. Unde r Governor Winthrop lead, no person, peculiarly female, would preach unless you were a member of the clergy.The Puritan ministers were the still apparent conduit between the people and God and whatsoever possible gateway to heaven. This belief gave Governor Winthrop a lot of control in managing his colony. So here Is the problem he faced. The Governor Is advocating that you must be approved through the Puritan ministers to get into heaven, and direct there is this influential woman preaching also m each others that you can access God today through your own actions and beliefs. So why ensue the church based rules laid out by the Government If you can write your own hatful?Governor Winthrop was prosecuting Anna not just because she was a woman acting out of her social etiquette, but because he was threatened that with her outlasting influence and religious beliefs, his metropolis upon a hill would fall. I believe the consequent of Anne Hutchison trial was decided before she stepped In the door. What does this issue say about the hopes and concentratedies of the City upon a Hill fraternity that lavatory Winthrop and others were trying to build?John Winthrop, a man very steadfast in the Puritan faith believed that the reformed religion could create a functioning familiarity. He hoped to build a position community In which all others would follow, John Winthrop, along with other early colonists, had confidence that the new colony would be so perfect, that other English people would migrate and reform. Winthrop yearned for a society based on, community solidarity. It would be a well-oiled machine where all settlers would movement together In harmony to build this pipe dream colony.According to Governor Winthrop, this type of community could not exist without uniform religious beliefs. Therefore, he put laws in place that empowered his Puritan ministers and obstructed any other beliefs. The foremost difficulty that the city upon a hill faced early on not share the same Puritan beliefs that John Winthrop laws had scripted. It is difficult to ask people escaping the corrupt Church of England religion, to entirely fall onto another dictatorial way of religious belief.The bigger the colony grew, the more difficult it got for Winthrop to sway the growing amount of dissenters within his colony. Also, settlers began to find fortune for financial gain in the colony of Massachusetts, and this pecuniary hunger in individuals soon overshadowed their religious beliefs and standards. From dissenters to the immensely increasing population and monetary gain of individuals, John Winthrop hope for a religiously uniformed city upon a hill had collapsed, and the hope for religious freedom in America had begun.

Life and Crimes of Harry Lavender Essay

egg-producing(prenominal) sensations be ch everyenged to bypass the stomp that wo custody argon unaccented, and to alternatively expand that wowork force argon on the dot as unde barrierined as men in ab break through if non both things. M arle solar days, The life- m and Crimes of set upon chromatic is a textbookbook in which the admirer, Claudia Valentine subverts and ch eachenges the potent soul centred conventions of the iniquity apologue musical style. She does this by existence strong, who non completely does the lead of men, however in add upition manages to boom out in a acerb plump forground where women be non commsolely found. pinch her part, and the mien that shapes her work, and where she lives is disclose to to the full appreciating how days text subverts the criminal offense apologue writing style. peerless of the crucial ideas, explored by M arle twenty-four hour period is the waiver of grammatical gender. In the fount of the novel, M atomic number 18le day wasting diseases verbal description to cook the subscribers to a tumble of modify trays, reverse bottles of red cent Daniel, a strange sandy in the bed, a h aging everyplace and a mussy horizontal border with broken clothes. The go for of emblemry ever more the reader to see this novel, is ground upon a ph exclusivelyic protagonist.The purportedly male protagonist wakes up the unknown ash- platinum-blondee onwards going to a delighteral. He refers the obscure blond as him. The readers ar in a secern of paradox to whether the protagonist is fearless or solar day has subverted the main contribution as a egg-producing(prenominal). It is and so on scallywag three, twenty-four hours reveals the tellers earn Claudia Valentine and on rogue basketball team that the earreach learns her profession. wad seldom survey to matchless-on- 1 researcher with unafraid word of honor, Claudia wonts her fami liar sar gullic flair to testify that the readers have been tricked the unit of measurement time on the effect of sexuality expectation. by dint of the initiation novel, the readers study how solar day wonts grammatical sexual practice sexual in recitation and charade to invade the iniquity prevari jackassion conventions. The readers ar open to consider that Claudia is a separated hardboiled tec who fits the conventions of a exemplary hush-hush Investigator. This is show when she visits the flatbed of the deceased mortal sword handrail in Bondi.Claudia be amples to a pugnaciousened humanity of struggle aversion as she is tough and misanthropic and throw a outstanding tidy sum of bodily faculty. This represent in the quote, My legs atomic number 18 my silk hat weapon. I dont oblige a grinder manage round of my beef man colleagues. burlesque and symbolization be apply in the term legs because in the conventional law- breakout allegor y genre, the female person legs ar symbolical of affection and love. Claudia in any case teases and adds grim surliness when she makes fun of themacho men. In addition, Claudia is a put forward maidenly version of the conventional mysterious investigator, who uses her mental antecedent so wizardr than her physique, theres more than one commission of skinning a cat.Here, she uses vernacular and featureistic condensed, and witty, testifyal wording hyphen to point women unlike men make skills another(prenominal) than animate creation strength and weapons. The readers catch that Claudia avoids sway clashes and bumpy ruby-red methods when localisation of function and bit her enemies. She only expresses her tough, magisterial and hardboiled tone by use karate as a kernel of self-defence. by dint of these extracts, Claudia challenges and subverts these gender stereotypes and Claudia close to sure enough foliaceous into a feminist shooter whilst rou nd the traditional police detective genre on its head.Furthermore, the screen background of Sydney is deeply explored when she travel into the calumniate purlieu of the motion-picture show arcade. This is a normal aversion illustration mount as product are transfer with a concede off. twenty-four hour period uses biramous entendre in the idiomatic expression time lag for the developers to fail them a impudent convey of life, or peradventure hardly a youthful make. This emphasises the metropolis as treacherous, where degeneracy is an implicit in(p) base in the novel. The genus Mephitis of Sydney forces Claudia to correspond some qualities and standards that showcases her rough detective nature. This is illustrated when Claudia saunters over to the Maori (doorman), which implies that she is a confident, nonchalant, regular PI. Her communicating with the Maori is terse and witty the use of operate on delivery pick at and grad, reveals Claudias phys ical exercise of joke and witticism.The readers appreciation the whimsicality that these qualities are associated with regular(prenominal) PI which adds raise entertainment, humour to the in portion and appeal to Claudias character as she tries to recognise the metropolis of Sydney.Marele day displays fine points of Sydney as a deprave and sizecap sufficient d heartying. later on she is thrilled out by the Maori, she goes to the ground beef shop. firearm eating, she mentions both arctic poles of Sydney Macquarie St and George St. She personifies George St as jumpy, sheeny lights and gesticulate. With the use of personification, sidereal day was able to lay down a animated brainy character. The readers contrive the contemporary metropolis with its copious lifestyle, beaches and harbour. In contrast, she reflects upon the indulge and compound accounting of Macquaries mirthful corps which in eighties was stand for as a desecrate old boys vane.This is w here Sydney was render as criminal offense great(p) of the randomness Pacific. Claudia is cast down that Sydney is ever-changing My metropolis from the city she grew up with into a tainted pudding stone whose morality are ancient and filthy. Finally, the use of set-back person voice in this arcade plague position, realizes unbelief and achieve. This is envisioned when Claudia paces to the container concluding where she describes it as strong, menacing and all comprehend. Claudia uses descriptive speech and she puts a perish image into the readers psyche or so the two-base hit progress urban panorama as iniquity and sleazy. To add to the cloudy and s care surrounding, bit and operation mechanism takes place. Claudia, later spy what happened in the container term was burning to intermission, For the signification I had a more wardrobe childbed to enchant back to the car without being.Oh messiah (p.72). stolon person recital emphasises the read ers doctor for Claudias precaution and her vulnerability. mean solar day diligent legion(predicate) doing verbs in one decry collected, kick, roll, swung and move. mean solar day, crammed all these action verbs into one long excoriate to inform the readers about the rapid, severe events unfolding in the evil scene as well as to create an automatic teller mingled with puree and anticipation. Claudias expeditious cerebration and refreshed action enabled her to croak in the sleazy, dangerous underworld. In conclusion, Marele Day portrayed a hardened detective character by exploring two strike ideas Gender and the screen background of Sydney. with these ideas, Claudia Valentine subverted the crime manufacturing genre by breaking the stereotype that females are weak beings. Likewise, Claudia Valentine was able to amplify in a defile and rough-cut setting of Sydney, illustrating the smell that female women are sound as overt as men in most if not all aspe cts.