Margaret Atwood Essay

I came across the quote â€Å"Context is all; or is it ripeness? One or the other†[1] when reading Margaret Atwood’s novel â€Å"The Handmaid’s Tale† for English. I didn’t give it much attention, because since I was 12, I had come to the conclusion that there was no such thing as a â€Å"fact† and every thought depended on other factors for it to be true. However in this essay I’m going to see if my original assumption was true or if there is a way to reach a truth through different branches of knowledge. I’m going to take the definition of â€Å"truth† from the dictionary, solely to have a base for which to compare the rest of the essay to; â€Å"A verified or indisputable fact, proposition, principle†[2].Which means that that there are facts that are backed by evidence, such as; it is 14:24 (at the time of writing). However in this case we can apply Atwood’s ‘context is all’, and change it to â€Å"context is location†, as this scenario isn’t necessarily true, seeing that in Sydney the time is 22:25, therefore the truth can be considered relative. Relativism is a doctrine where there is no absolute truth; that truth is always relative to some particular frame of reference, such as a language or a culture[3]. Which brings up a paradox as if someone were to say â€Å"context is irrelevant† meaning the truth would remain a truth in every situation, it would contradict themselves, as that statement would be relative depending on the context. Francis Bacon’s Empiricism or otherwise known perception, is the process of arriving at the truth through sense experience.[4] People use their five senses to arrive at a truth, however depending on the context, the exact same senses can make that truth false. An example that happens to me frequently is; when I look at a shirt, to me it looks black, but then when I put it under a stronger light and look at it carefully it often turns out to be dark blue. It doesn’t mean the senses are â€Å"faulty† or can’t be trusted, but the observation; truth, arrived from the use of perception, isn’t congruent when the context is changed. Another very bizarre example that happened to me last year when I bought my new phone; is before purchasing it, I didn’t know of anybody that had one, but as soon as I had it in my pocket I started realising that a lot of people around me had it as well. Language is the use of characters, symbols, images and sounds as a means of communicating a message.[5] We assume that language is a truth, as we have a general consensus of the different characters, symbols, images and sounds in language. However once again the truth is challenged with the â€Å"context is all† axiom, where in certain cases the truth behind language doesn’t stand. My father told me the following example; when Vice-President Richard Nixon, at the end of the 1950’s was visiting Colombia, he used the commonly known â€Å"OK† hand sign, denoted with a circle formed by the thumb and the first finger, with the remaining three fingers outstretched, to which the Colombian people, thought they were being called assholes. Rene Descartes’ Rationalism is the use of reason, be it inductive or deductive to logically arrive at the truth.[6] Descartes used reason to arrive at his famous; ‘Cogito Ergo Sum’, I think therefore I am.[7] He was asking the question â€Å"How do I know I exist ?† and he deduced by no more than reason that it all boiled down to; I doubt that I exist, therefore I think, ergo I am.  When I first heard this deduction, it seemed to me that it was flawless. However I remember looking around the room I was in at the time; I realised that objects such as the chairs, tables and even trees to an extent, couldn’t deduce their existence like Descartes did, therefore according to his deduction they wouldn’t exist. Once again I came to the conclusion that context will undermine truth.

Irish Immigration Essay

Running head: IRISH IMMIGRATION IN 1850’S 1 Irish Immigration in 1850’s Dorothy Mathews Eth/125 March 7, 2010 Henry Williams IRISH IMMIGRATION IN 1850’S 2 Irish Immigration in 1850’s The line of ancestry that I came from is the Irish and English and Dutch. I am not certain about the dates, but I am pretty sure that they emigrated around the years 1850 to 1870. The Irish left the island of Ireland because of the potato famine that overtook their country. Even though undefined, Irish emigrants faced persecution from other foreigners because they were under educated and some were Irish Catholics, and also from little knowledge of what industrialization was. The greatest number of emigrants was from around 1850 through the late 1870’s. The Irish had learned to farm potatoes, because of the productivity and market prices. Towards the end of 1845 the potato crops caught a fungus which destroyed the crops in the ground and also in the storage bins. This turned them into a blackened putrid mass. (Immigration and Immigrants, 2000). By the year 1846 the entire crop was destroyed. In the interim, more than a million people died from famine and poverty. This began the greatest influx of emigrants from Ireland. After reaching the United States by sea, the Irish stayed mostly in a city environment because the majority of them knew nothing but farming and the land. They did not have the finances or the ease of buying land to farm. They stayed in the cities and most of them ended up living in the slums with some Chinese and African Americans. They could not get jobs because of their education and because they knew nothing of factories and actually living in cities. Most were used to living on farms and farming the land. IRISH IMMIGRATION IN 1850’S 3 Most of the Irish immigrants faced many prejudices and segregation. The nativists and the other immigrants were afraid of them because of their religion and beliefs. They were forced to live in slums and in poverty because they could not find jobs. The only work they could find was in servitude and menial labor jobs. They were under educated and poor. The Irish were thought to be stupid and ignorant, so they stayed to themselves. The Irish emigrants entered a land with new social and cultural differences. At this time the African Americans and Asian Americans were involved in disputes, along with the European Americans. Add to this the disruptions between the Catholics and Protestants and there was not much peace in the neighborhoods. During this time, they developed political partisanships which brought into line a group called the Know Nothing Party and later the American Protective Association (APA). Neither of these parties lasted for long, but the Irish were later associated with the new Democratic Party. Also during this time, Irish immigrant soldiers played a big part in the Civil War during the battles of Antietam, Fredericksburg, and Gettysburg (Immigration and Immigrants, 2000). Irish Americans also were involved in disturbances against the Chinese on the west coast which eventually led to Chinese American banishment from America. During this time when the Irish immigrated to America, they suffered from many discriminations, including segregation, racism, and redlining. They were stopped from buying properties, because no one wanted to sell to them. They did not want them in their neighborhoods, or shopping where they shop. They were thought to be ignorant, and beneath the mainstream of people and only good for menial positions. IRISH IMMIGRATION IN 1850’S 4 By the end of the 19th century, because of all the negativity that they had experienced by coming to America, the Irish had solidified their communities and turned back to the Church. The catholic churches in Boston, Massachusetts grew and were able to build and renovate many churches. The Irish families had learned new jobs, and between all the members of these families, they contributed to the growth of the Church in many cities. Soon the Irish American Catholics were associated with the Democratic party. In the 1880’s and the 1890’s, the Irish Americans elected quite a few officials to different positions. Although the Irish Americans were undefined when they arrived in the United States, they assimilated into the country and eventually grew into strong and eager Americans. Most of them came from poor families, but with strong visions and many strong backs, and resolution, they formed strong bonds and strong communities. They leave a long legacy of pride and ambition. Somewhere along the line they married into other groups and other races, and from these came good Americans. I am proud to be among them. In answer to your final question: I identify more with the mainstream American culture, but I celebrate St. Patrick’s Day and wear the green. I have never been to Ireland, but that is one of my fondest wishes. I am proud to be associated with the Irish in America. In my ancestry, somewhere down the line they married with someone of English descent and also someone of Dutch/German descent. This Emigration was 150 years ago, so the lineage has been mixed with a variety of races, since then. IRISH IMMIGRATION IN 1850’S 5 References Immigration and Immigrants. (2000). In Encyclopedia of the United States in the Nineteenth Century. Retrieved from http://www. credoreference. com/entry/galeus/immigration_and_ immigrants. Voters and Voting. (2000). In Encyclopedia of the United States in the Nineteenth Century. Retrieved from http://www. credoreference. com/entry/galeus/voters_and_voting.

Cardiovascular Fitness (Designing an Experiment) Essay

Cardiovascular Fitness (Designing an Experiment) - Essay Example Cardiovascular Fitness (Designing an Experiment) Cardiovascular diseases have been associated to the increasing cases of obesity among children and adolescent as they approach adulthood (Olshanky and others 2005) cited in. However, little attention has been focused towards establishing the effect of excessive body fat and its negative impact on cardiac fitness (Rowland, 2007). Due to excessive fats there are high risks of coronary artery conditions such as renal-vascular diseases, hypertension and stroke coupled to other non-circulatory disorders. Body fatness and aerobic fitness are intertwined and have been reported as potential risk factors towards the health outcome of an individual (Goran and others 2000). Among the two factors, aerobic fitness has been reported as the primary factor determining future outcome of diseases (Goran and others 2000). However, it is important to understand the relationship between aerobic fitness and fatness towards establishing their role in causation of cardiovascular diseases. Cardiovascular risk has also been linked to weight and dissociated from the widely accepted norm that being fat and fit is acceptable in cardiac health. Excess weight in most cases may be associated with high levels of cholesterol and alteration in the cardiac function. 1.Ha: Excess weight affect cardiovascular fitness by increasing the pulse rate and recovery time. 2.Ho: Excess weight will not affect cardiovascular fitness The experiment involved two subjects who were selected from among the group. The inclusion criteria dwelt on involving subjects who had respiratory and/or circulatory conditions. Exercise which was part of the experiment may be significantly compromised in these individuals. Pulse rate for treatment I (with weight) and for treatment II (without weight) were taken before the start of the experimental exercise and entered in a table. The experimental exercise involved making the subject step up and down for three minutes at constant rate of 24-30 steps per minute on a low platform. Immediately the 3 minutes were over, the pulse rates were recorded again and entered into a table as raw data for further analysis. The pulse rates were taken from the radial artery. This was done by making a tally of the number of beats in 30 seconds and multiplying this value by two. Subsequent measurements were taken at intervals of 1 minute for another three times. 3. Result text The pulse rate before th e exercise was slow but it was elevated following the 3 minutes exercise in the two treatments. However, the mean pulse rate in treatment two was higher than in treatment one (see table 1). The trend in pulse rate indicates that individuals with excess weight will have high pulse rate and longer recovery time after exercise (see figure 1 and figure 2). Mean recovery time was higher in treatment II at 3.25 minutes as compared to treatment I with 2.50 minutes. Overall standard error from the mean (SEM) was observed to at the highest from pulse measurements taken after the exercise. This value was higher in treatment I than in treatment II. Overall all treatment I recorded elevated means in the measurements of pulse rate before and after the exercise than treatment II without weight. This trend was also replicated in the recovery time with

About Documentary and Fiction of Michel Brault Essay

About Documentary and Fiction of Michel Brault - Essay Example This transpired till the dawn and development of the early English writers such as Shakespeare, McOpollo among many writers of the times. This period was dominated by fictional narrative based on romance hence its renowned name, the romantic age. This period was referred to as the romantic age by most writers since love and romance formed the central theme in these works. Examples of such writings include Shakespeare’s works such as Othello, Romeo and Juliet, Merchant of Venice among other renowned Shakespearean book (Winston). Shakespeare’s writings however dominated the scenes in most theatres and public performances at the time that it was referred to by literary writers as Shakespearean age. This paper will look at the differences and points of convergence between fictional narratives and documentaries based on certain pertinent factors. This shall be done with close examination of the works of Michel Braunt. As can be seen, fictional narrative was the dominant genr e during the early ages. Fictional works are those that do not actually express the true meaning of what is presented but remains to serve al purposes of the literary functions such as the informative function of literature. Fictional narratives are based on the need to entertain and inform the society on the past as well as the looming dangers just as the other literary genres do. (Winston) defines fictional narratives as a branch of narrative literature which is composed from an informed background after the writers has closely scrutinized all the requirements and the structural components of the society which he or she reflects in the composition. This he relates to a number of issues such as their performance, functions as well as its composition in the literary world. The writer has certain things to consider in his or her composition such as the humor, informative functions as well as the use of other literary devices necessary to qualify the work of fiction as a recognized ge nre in literature. The later ages experienced a shift in the forms of literary works which were recorded during the time. The Romans period, then the dominant period with more emphasis being laid on the documentaries as the aspect of writing dominated the global atmosphere. Roscoe and Hight notes the Romans age was more leaned towards power and governance, the need to keep the documentary accounts of wars and kings dominated the literary forms (Roscoe and Hight). Besides, works of explorations and trade among various communities were as well written down as a reminder for these inquisitive ventures. Various accounts were recorded and kept at this time informing the world populations of the various activities which dominated both the societal as well as the ruling atmospheres at the time. Documentaries are very different for fictional works even though some common features are alike. For instance, all being literary forms, they tend to share certain literary devices and functions whi ch groups them together as forms of literature. Rosen notes that while fictional stories are not true accounts, documentaries are true accounts of events which took place sometime in the past all organized into a single piece of work (Rosen). The convergence point between the two forms of literature has made it rather difficult and confusing. Most writers have in many occasions have borrowed fictional traits into the documentaries as well as those from documentaries into the fictional works (Riis). Examples of such works which have merged fictional features to create documentaries are the works of Michel Braunt and Menschen am Sonntag in Pour la

Frida Film Report Essay Example | Topics and Well Written Essays - 500 words

Frida Film Report - Essay Example Kahlo is bedridden most of her time but manages to do many paintings in spite of the pain she suffers. Although she is bedridden, she does not let the physical injuries and pain weigh her down. Her pain is more when she gets married to Rivera, who gets involved with other women despite her plea to him to b faithful. The movie affected me in various ways as Kahlo faced many challenges in life including severe pain from the accident. One of the issues in the poem that relates to my case is physical pain. Kahlo was affected by polio and later involved in an accident leaving her in pain. In my case, the pain is due to injuries sustained during a cycling competition with my friends when we collided with another cyclist. Sometimes the pain is severe but I always ensure that it does not interfere with my work as I can do so many things. Another issue is the psychological pain that Kahlo endures after her marriage faces challenges. My psychological pain is not related to marital troubles but disagreement with my family members who want me to take the management of our family business. The issue that stresses me is because they keep on insisting that I must participate in its management yet I am interested utilization my talents and skills as an actor. Nobody understands my argument, and they all think that I lack commitment yet I know I have dreams to achieve in life. The situation is stressing and am struggling to find ways of solving it. Just as Kahlo suffered, psychological stress due to her troublesome marriage am suffering due to the family business.

Alzheimer's Disease Patient and Social Theory Essay

Alzheimer's Disease Patient and Social Theory - Essay Example The key points of this analysis are the medical background and history of the patient, the psychological and sociological factors affecting her and her health, and finally how the patient and those psychological and sociological factors fit into a larger theoretical and policy framework. About the Patient In the interests of maintaining confidentiality and respecting patient privacy, I will be referring to this patient as Mrs. X. Due to her rapidly deteriorating mental and physical condition, Mrs. X's residential care home was no longer capable of providing the nursing services she required, and she was subsequently transferred into the mental health ward. Mrs. X has vascular dementia or Alzheimer's disease and has been declared legally incompetent to make her own medical decisions. In addition, she is prone to mild absence seizures, causing disorientation and occasional falls, though they do not induce unconsciousness. She is receiving phenytoin to treat the seizures. Mrs. X's behavioural issues have progressively worsened to the point that she requires full care and constant monitoring. She will wander the halls of the ward at night screaming. Her husband believes that many of her mental issues are related to her lack of sleep, which does make her agitated and irritable during the day. She has difficulty communicating her needs, as she is completely non-verbal. This factor alone is greatly complicating her nursing care. Other complicating factors in Mrs. X's care are her dislike for the staff to attempt personal hygiene or care needs, and her refusal to comply with treatment regimens. For example, she was found to be refusing her medication by hiding pills in her mouth, and had to be switched to liquid suspensions. Psychological and Sociological Factors It is difficult to assess Mrs. X's psychological condition exactly, due to her dementia and non-verbal state; however, it is safe to say that she is clearly unhappy with the current situation. Th is is a concern, as a patient's psychological state is often directly related to their ability to heal when hurt or to keep themselves healthy in the first place (Gross, 2007). Even on the first layer of the Whitehead-Dahlgren model of psychological influences, her physical state of being, most effects on Mrs. X are strongly negative (Marks & Evans, 2005). She often seems unaware of her surroundings, becoming lost within the building, which is a traumatising event for her. This most often occurs at night when she wanders. Her sleeplessness is due to severe insomnia, a condition that further damages her poor psychological state. She is helpless to do anything for herself, unable even to eat, drink, or use the toilet without help. Even in her mentally compromised state, this level of dependence on others causes her a significant amount of distress. This is evidenced by her dislike mentioned earlier for staff members trying to attend to her personal care. She is in pain due to arthriti s and frequent constipation, which also negatively impacts her psychological well-being. On the second layer and third layers, her lifestyle factors and social networks, the situation is equally as poor (Marks & Evans, 2005). She upsets the other patients by screaming and yelling, with the result that she has very little positive social contact with them. She

Speech article 2 Essay Example | Topics and Well Written Essays - 750 words

Speech article 2 - Essay Example In the speech, Taiwan’s president, Ma expresses his firm support for the pro-democracy movement in Hong Kong and the need for reforms to let Hong Kong go democratic. Nearly a month ago, Hong Kong residents led by Hong Kong Federation of Students went to the street to protest the National People’s Congress decision on proposed reforms, which denied civil nominations. The movement termed Occupy Central demand the liberty to elect the next local head of their government. The movement calls for a democratic and direct chance to elect the Chief Executive of Hong Kong without Beijing’s interference. Ma states that China should take the recent occurrences as an opportunity rather than a problem and facilitate a democratic transition in Hong Kong. Further, he also advised China that as a step towards achieving constitutional democracy, the country should start by letting Hong Kong go democratic. In addition, Ma suggests that with the rapidly developing economy, China is becoming a more prosperous society, and consequently, the number of wealthy people is increasing. As the wealth increases people tend to desire a more affluent lifestyle, as well as greater rule of law and more democracy. Therefore, for China, it seems there is no way out, but to give Hong Kong autonomy because eventually, the heat will be too much to bear and they will give in to the demands. Moreover, Ma clarifies that contrary to the popular belief, the need for democracy is not a strategy of the Western countries: he says, â€Å"Such a desire has never been a monopoly of the West, but it is the right of all humankind† (Ying-jeou 1). Such sentiments from the president of Taiwan in favor of freedom are very relevant to the current situation because the state is also ethically Chinese as Hong Kong. Though Taiwan has been under self-rule since 1940s, the mainland China still claims sovereignty over it and vows to take control over it one day even if it means by force. Moreover, Taiwan was

United States (US) NURSING SHORTAGE Assignment Example | Topics and Well Written Essays - 500 words

United States (US) NURSING SHORTAGE - Assignment Example By passing the Patient Protection and Affordable Act aforementioned, the Obama administration achieved a milestone; in regard to expanding Americans’ access to universal healthcare services. Access will also include services provided by both Advanced Practice Registered Nurses (APRNs) and RNs. Accordingly, the American Association of Colleges of Nursing (AACN) works in collaboration with policy makers, learning institutions, the media and nursing organizations. This is aimed at bringing general public attention to this concern. Importantly is the fact that policy making ought to consider the aspect of continued growth, in terms of health care needs (Rosseter, 2014). An aging nursing workforce and a diminishing avenue of new nursing student influence this situation. This shortage, it should be noted, is being faced all round the world, with nations enhancing their implementation of various policies towards addressing the issue. Pertinent to the situation is the issue of improved scientific and technological expertise, therefore, only necessitating only the sickest of patients to undergo intense treatment, under hospital stay. Thus, specialized and skilled work force is greatly in demand abate the lack of optimal supply rate (Littlejohn et al., 2012, p. 23). Unfortunately, in the USA these issues are being experience, just as a major segment of the nursing population is retiring vis-Ã  -vis an expanding health care sector. The result is that health institutions and clinical settings require more nurses especially those skilled in specialized care provision more than ever. Statistically, it was noted that there was an increase in the average age of working registered nurse workforce. From this aspect, it is predictable for almost half of the nursing population being aged 50 years and above in the near future. Adding to this is the fact that as these registered

Pest Analysis Essay Example for Free

Pest Analysis Essay The growing importance of environmental or ecological factors in the first decade of the 21st century have given rise to green business and encouraged widespread use of an updated version of the PEST framework. STEER analysis systematically considers Socio-cultural, Technological, Economic, Ecological, and Regulatory factors. Contents * 1 History * 2 Overview * 3 References * 4 External links History According to the site RapidBI The term PEST was originally called the ETPS and was quoted in Aguilar, Francis (1967). Scanning the Business Environment. New York: Macmillan.. , who discusses ‘ETPS’ a mnemonic for the four sectors of what he calls his taxonomy of the business environment: Economic, Technical, Political, and Social. Sometime after this initial publication, Arnold Brown for the Institute of Life Insurance reorganized it as ‘STEP’ as a way to organise the results of his environmental scanning. Over time by academics and others in business it was modified yet again to become a so-called STEPE analysis (the Social, Technical, Economic, Political, and Ecological taxonomies). In the 1980s, several other authors including Fahey, Narayanan, Morrison, Renfro, Boucher, Mecca and Porter included variations of the taxonomy classifications in a variety of orders: Due to the negative connotations of PEST, a STEP analysis (re-ordering of the acronym letters) also exists, but is used to a lesser extent. Some academics claim that STEP or PEST still contain headings which are appropriate for all situations and do not require additional elements, other claim that the additional breakdown of some factors to help individuals and teams undertaking an environmental scan. Political factors include areas such as tax policy, employment laws, environmental regulations, trade restrictions and tariffs and political stability. * Economic factors are economic growth, interest rates, exchange rates and inflation rate. Social factors often look at the cultural aspects and include health consciousness, population growth rate, age distribution, career attitudes and emphasis on safety. * Technological factors include ecological and environmental aspects and can determine barriers to entry, minimum efficient production level and influence outsourcing decisions. Technological factors look at elements such as RD activity, automation, technology incentives and the rate of technological change. The pest  factors combined with external microenvironmental factors can be classified as opportunities and threats in a SWOT analysis. PEST/PESTLE alongside SWOT and SLEPT can be used as a basis for the analysis of business and environmental factors. [2] References Aguilar, Francis (2006). Scanning the Business Environment. New York: Macmillan..

Performance appraisal Essay Example for Free

Performance appraisal Essay Performance appraisals are tools that measure and evaluate a persons performance on the-job for a certain amount of time. There are many different types of appraisal techniques to assess the companys employees. Frequently these evaluations can lead to better benefits, promotions, and other rewards. The question is why do companies use appraisal systems? This paper will discuss the systems and answer this question. The performance appraisal assists in the monitoring and evaluating of high-quality and low-quality work performance inside the service organization. The performance appraisal system, when conscientiously integrated with the organizations mission, strategic plan, structure, job design, and motivation and reward system, can serve as a valuable tool to change the personnel profile in a positive way (Kettner, 2002). Performance systems are only good if they are carried out accurately by the managers or supervisors and are tactically planned out. A good Manager or supervisor can associate the objectives of an organization to a certain job tasks. The employees should be well aware of the company expectations of them before the appraisal. Good communication is crucial in the performance appraisals systems processes. The person doing the appraisals is to remain bias free in turn for the process to work accurately. The appraiser must assess the sections of performance that may need to be improved upon. For the most part of the process the appraiser needs to stay in the shadows and just watch the employees work without their knowledge, because when people know they are being evaluated they tend to mess up . Specific norms inside the ratings need to be set up in turn to reward performance successfully. The evaluation cannot just have a one or a two in evaluating people are different and should use a larger scale. Evaluating several qualities is the framework for an excellent performance appraisal procedure. The most important thing to remember throughout the process is to remain truthful and honest. An exceedingly industrious performance appraisal system will have the chance for staff enhancement. A well-integrated performance appraisal system is tied to the work performed, accurately indicates, through a scoring system,  each employees level of performance, and provides a reliable indicator of an employees strengths and weaknesses (Kettner, 2002). The top five employees after the appraisal may see beneficial rewards or an increased salary. This appraisal will happen frequently to give everyone a chance for the rewards. These appraisals will be conducted in a timely manner with little delay to work. A good performance appraisal can have a number of things, some are listed below. †¢Finishes all work in a timely manner†¢Abides by businesses procedures for work†¢Work is orderly and correct†¢Works as an individual or with a group good†¢On time for work†¢Takes notes in meetings and is involved†¢Uses time wisely and prioritize effectively†¢Initiates and remains productive with constant cooperation†¢Appreciate rules and regulations†¢Implements policies and procedures†¢Adapts to changes within the business†¢Uses procedures to resolve problemsCompleting work in a timely manner makes the task easier to complete, there will not be a great deal of work waiting for the next day. In order top have work completed in a timely manner the work and space needs to be organized. The more organized a person is the better he will do in the organization. Work and other aspects in life are alike, for example, if a person is organized in life then he will be at work to. Most people believe time costs money so if the time is being wasted then so is money, this is the reasons for procedures and protocols. Procedures are important to follow because this will cause fewer problems down the line. Rules and regulation need to be followed to the T because they are there to help keep things running smoothly. Problem-solving techniques are always a good thing to see. A good worker always uses policies and procedures to solve minor problems; this will look good during appraisals. Without procedures and policies to follow there would be chaos, people would be unable to work together. An employee needs to be able to work well with a group or by him self to grow in the work environment. A good employee is able to take notes while in a group meeting to refer to later if needed. Employees need to get involved with important conversations and voice their opinions for other to hear on a  topic. The more the employee talks and is cooperating the better he will be able to do his job. Time is important in any business, so it is crucial to be on time for work everyday. When the employee is late he might have missed an important meeting or crucial information. The employee needs to be able to prioritize and make sure things are in order to work effectively. Most important of all an employee needs to be able to accept and be able to adapt to change. The business community is changing every day and the business and employees need to change with it. A performance appraisal of the employees happens everywhere whether there is an official system in place or not. In a small company the official system is probably not used due to the fact there are not numerous employees. While in larger companies the formal appraisal system is a must because there are a number of employees that need to b e watched and rewarded if needed. Appraisals are meant to reward those who work hard and for those who could need a little extra boost to keep them going. This type of acknowledgment and ways to prevail over the problems are best accomplished by offering training to those who need it. When the appraisal is done, the results should be able to tell the manager or supervisor who needs rewarded and who needs a little help. The employees should understand that the appraisal is there to help them not to hurt them. When improvements are decided on the employees, managers, and supervisors should agree on these. The employees should be able to have a say in what type of training they would be doing because if the do not like it then it would be a waste of time. The performance appraisal ought to improve an employees inspiration and show the way for a course to new opportunities and adventures. References Kettner, P. (2002). Achieving excellence in the management of human service organizations. Boston: Allyn and Bacon.

Cost Volume Profit (CVP) Analysis Applications

Cost Volume Profit (CVP) Analysis Applications 1. Introduction The use of Cost Volume Profit (CVP) Analysis depends upon a number of clear assumptions, for its application in resolving problems, simplifying complexities and aiding decision-making in business issues. Areas of application, inter alia, include pricing, calculating contribution, computing costs, deciding sales mixes, estimating breakeven points, assessing profitability, and achieving profits. As a financial tool in the hands of accountants, (professionals who are generally more at home in dealing with simple and linear arithmetic than with the intricacies of statistics and calculus), it is invaluable, brilliant in its simplicity and in its ability for using straightforward calculations to make sense out of complicated business situations. CVP analyses work on certain basic assumptions in areas of sales, in unit price and volume, and costs, fixed and variable, for their simplest and most straightforward applications. However, the irregularities of actual business situations, their proneness to pick up complex variables, and their stubborn refusal to abide by the norms of arithmetical linearity, introduce a number of issues that sometimes make it difficult to apply simple arithmetical concepts like CVP towards their resolution. The simplicity of an analytical tool such as CVP can cut both ways. It can be both its greatest virtue and its major shortcoming. The real world is complicated, no less so in the world of managerial affairs; and a typical analytical model will remove many of those complications in order to preserve a sharp focus. That sharpening is usually achieved in two basic ways: simplifying assumptions are made about the basic nature of the model and restrictions are imposed on the scope of the model. (Guidry, Horrigan Craycraft, 1998) Businesses that do not have a single product sales portfolio, and who, in the normal course of their activities, sell a number of products, sometimes quite dissimilar from each other, face even more difficult and complex challenges in the application of CVP concepts. It is the purpose of this assignment to examine the appropriateness of applying CPV techniques in business environments, wherein companies produce and sell a number of dissimilar products, with particular reference to the specific assumptions needed for such exercises. 2. Commentary In base terms, a CVP analysis deals with sales, costs, contribution and ultimate profitability. Arithmetical manipulation of the relation between unit sale price, total sales, variable costs, contribution, fixed costs and profitability, results in information about breakeven volumes, the implications of both variable and fixed costs on margins and final profitability, thus helping decision making in such issues. a. Sales The first set of assumptions, in this methodology, concerns financial data regarding sales. CVP techniques work on the assumption that product sale prices will remain constant and total sales will necessarily be a linear multiple of the number of units sold. As such, if ‘x’ is the sales price in GBP and ‘a’ the volume in units, total sales will equal ax GBP. In most business situations, factors like volume and cash discounts, as well as introductory offers to new customers, often cause changes in sales prices. It is general practice for accountants, in such situations, to arrive at an average sales price depending upon the business environment, and the needs of the market, and apply it for CVP exercises. This situation could become complicated, if sales prices differ in different geographical areas, and infinitely more complex for analysis, if a company deals with a number of products, each of which may have a range of items, and different pricing policies. Furthermore, the use of average prices becomes patently unsuitable, if not downright silly, in environments where a number of diverse products make up the sales basket. b. Variable Costs Costs, for CVP analyses, consist of two broad categories, variable costs and fixed costs. Variable costs are costs that change directly in proportion to changes in volume. They include the wages of production workers or salespeople, raw materials, electric power to run machines, and the cost of maintaining inventory. While most variable costs are of a direct nature, their movement, in actuality, is never strictly linear and they tend to change somewhat, decreasing with initial volume increases, remaining stable for a substantial period and then inching upwards, after volumes exceed a certain limit. While accountants are aware that costs are never fully variable or fully fixed, this differentiation helps in some exercises, notably CVP applications. Costing and production departments thus try to segregate variable costs to the best of their knowledge and ability. â€Å"Splitting out fixed and variable costs can be a long, time consuming process; and techniques such as the inspection of accounts method really are not suitable if the analysis is to be realistic. At the very least, some kind of statistical or mathematical analysis will have to be undertaken.†(Williamson, 2000) The impact of different sales prices, and variable costs, of different items, for a company that deals in many diverse products, introduces a host of complexities in the use of CVP techniques, which primarily work on the assumptions of single product lines, constant sales prices, variable costs, and linear movements of both, in accordance with volumes. Fixed Costs, another important factor for CVPA exercises, comprise of expenses that do not change in proportion to the level of activity of a business. They can include both overheads, like rent and utilities, as well as direct costs like salaries. It also needs understanding that fixed costs remain steady only within a certain range of activity, and for a definite period. They are quite liable to change with time and with level of activity. c. Multi product Situations CVP exercises make use of all these components, namely sales prices, sales volume, variable costs and fixed costs to arrive at conclusions regarding contribution margins, breakeven points, pricing decisions, minimum volumes that need selling, and similar other financial issues. While CVP analyses progress on the assumption that primary factors will behave predictably, at least for single product companies, the situation in real life business environments is very different and sales prices, variable costs and fixed costs get impacted by developments like changes in pricing policies, needs for special discounts, inflation, and mid term salary increases. All organizations are subject to uncertainties, leading to risks of failing to meet expectations. Even though each organization is subject to distinctive business risks, all of them face uncertainties related to the economic environment. These uncertainties increase manifold in the case of organisations that deal in various diverse products, with differing sales prices and variable costs. Even the treatment of fixed costs becomes complex because some fixed costs would be applicable to specific product lines, (e.g. departmental salaries or rent) while others would be applicable to all product groups like the MD’s remuneration or legal retainer fees. Such business settings lead to violation of basic assumptions needed for CVP exercises. Moreover, this sort of nonlinear behaviour, of both revenues and costs, and the increasing number of uncertainties could affect the assumptions required for CVP analyses and lead to invalid conclusions. In addition, it could be difficult to determine the point of operating activity where operations move into a new relevant range. Any simple and straightforward attempt at resolving CVP issues, even for a company with just ten product lines, each with different revenue and cost cha racteristics could thus fail without the use of mathematical modelling, which at times could become quite unwieldy. Multi product situations, which automatically lead to the emergence of numerous variables and to the violation of the tenets of CVP methods, are inevitable in real life business situations, and it would thus be quite impossible to find problems that satisfy all CVP assumptions. Does this imply that the CVP method is just a simplistic arithmetical tool that is adequate for use in costing textbooks, as well as for simplifying basic cost issues for beginners, but actually of no use in real life situations where (a) the sales baskets of companies always have many products, and (b) costs are not amenable to straitjacketed behaviour? Notwithstanding the meagre probability of the assumptions required for CVP exercises occurring in real life situations, CVP analyses still maintain their relevance in operational and financial decision making, even in multi product situations, albeit with some provisos and modifications. The most widespread application of CVO, in multi product situations happens in the formulation and determination of sales mix. In such situations where there are, for example, five products with differing unit sales prices and variable costs, it is possible to find the contribution of each product per piece, by subtracting the variable cost from the sales price. An analysis of comparative contributions thus provides information about the potential profitability of the different products, and determination of the product mix that will contribute most towards the profitability of the company. The use of a practical example will be of use in illustrating these statements Data relating to hypothetical Company ABC Product A B C D E Sales Price GBP 5 6 8 11 12 Sales Volumes Nos. 100 250 325 25 200 Product Mix % 11 28 36 3 22 Variable Costs GBP 3 2 4 5 7 Contribution GBP 2 4 4 6 5 Total Contribution GBP 200 1000 1300 150 1000 The use of simple CVP analyses makes it possible to come to the following conclusions. Product E, even though it has the highest Sales Price does not give the highest contribution, either per piece or in totality. Product D, even if it has the highest contribution per piece gives the lowest total contribution Product C, which has a medium contribution of 4 GBP provides the highest total contribution to the company Profit optimising activities should primarily focus on (a) increasing the contribution of Product A and (b) increasing the sales of Product E and D. Apart from these conclusions, CVP techniques will be useful in calculating the breakeven point of the company’s current operations, after ascertainment of fixed costs, and by using the weighted average of contributions of the total products, based on the current product mix. In this particular case the weighted average of the contribution of the company’s products, obtained by dividing the total contribution of 3650 GBP by total sales of 900 units works, out to 4.05 GBP per piece. Thus, if the fixed costs of the company are 4500 GBP per year, the company will have to sell (4500/4.05) 1112 units to break even, considering maintenance of the current product mix. Income tax does not come into play until achievement of break-even levels. However, once breakeven levels are crossed, the profit after tax at various levels of sales is easily obtainable by multiplying the sales numbers, in excess of the BEP, with the weighted contribution per unit and obtaining the product of this figure and the post tax percentage. If, for example the company plans to sell 2000 products during a year, and the level of tax is 30 %, the total after tax profits can be worked out by multiplying 882 (2000 – 1112) with 4.05 and then again with 70% (being the post tax income). As such, 882 * 4.05 * 70 %, which equals to 2500 GBP will be the post tax profits at a sale level of 2000 units with the same product mix, sales prices, variable and fixed costs. The use of Excel sheets becomes very useful for such exercises and enables accountants to work upon a number of options with varying products mixes, changes in sales prices and the impact of different factors on variable and fixed costs. It thus becomes possible to forecast a number of situations and engage in a number of sensitivity exercises. 3. Conclusion The use of CVP analysis depends upon a number of assumptions in areas of sales and costs for its proper application. Many of these assumptions get violated in actual business situations, more so when a company deals in a number of products with different price and cost structures. While these factors do lead to difficulties in using CVP techniques, the availability of spreadsheets, particularly the options available with Microsoft Excel make it possible for accountants to use these techniques in different business scenarios with changes in assumptions without great difficulty or tedious and repetitive calculations. In case of situations where the number of variables becomes extensive, the use of probabilistic models helps in CVP analysis. However, the use of probabilistic techniques in normal business situations is quite rare, and the careful and knowledgeable use of CVP techniques, with the aid of spreadsheets, proves adequate in handling many multi product requirements. CPV analysi s also faces criticism because conclusions and recommended decisions, arising out of its use, disregards wealth and risk implications. Nevertheless, its continuous use and adaptability reinforces the robustness of the model and its adaptability to changing business needs. Word Count: 2128 words Bibliography Bhimani, A. (Ed.).,2003, Management Accounting in the Digital Economy. Oxford: Oxford University Press. Guidry, F., Horrigan, J. O., Craycraft, C., 1998, CVP Analysis: A New Look. Journal of Managerial Issues, 10(1), 74+. Heymann, H. G., Bloom, R. ,1990, Opportunity Cost in Finance and Accounting. Westport, CT: Quorum Books. Lawrence, C. M., 2006, Cost Management: A Strategic Focus, 3d Ed. Issues in Accounting Education, 21(3), 324+. Mascha, M. F., 2002, Cost Management: Strategies for Business Decisions. Issues in Accounting Education, 17(4), 451+. Riahi-Belkaoui, A.,1992, The New Foundations of Management Accounting. New York: Quorum Books. Williamson, D, 2000, Cost Volume Profit Analysis: Its Assumptions and Their Pitfalls, Fortune City, Retrieved March9, 2007 from business.fortunecity.com/discount/29/cvpassweb.html

Effects of Prior Knowledge on Generative Tasks Essay -- Philosophy Cre

Effects of Prior Knowledge on Generative Tasks The creation of new ideas plays an important role in the growth of any society. Inventions such as the telephone and automobile have provided the tools for increased levels of communication and widened the access to information. While the modern generation may view these inventions as staples of our society, at the time of their conception they were viewed as revolutionary new concepts. Yet, were they truly revolutionary or were they an extension of prior knowledge? Large proportions of new ideas are based on the properties of an existing concept (Marsh, Ward, & Landau, 1999). Without the concept of the phonograph, for example, we may never have had the benefit of 8-tracks, audio cassettes, or compact discs. These creations, while separate in their levels of advancement, are all based on the initial notion of recorded sound. Researchers recognize the benefits of prior knowledge as adaptive to survival. The fact that humans are able to learn and apply information from previous experience assists in reasoning, problem solving, and comprehension of our environment (Smith, Ward, & Schumacher, 1993). Without the use of prior knowledge it would be impossible to advance cognitively. The benefits notwithstanding, the use of prior knowledge also has the potential of limiting, or constraining, the creative process (Marsh, Bink, & Hicks, 1999; Marsh, Landau, & Hicks, 1996; Marsh, Ward, et al., 1999; Smith, et al., 1993). The theoretical construct of structured imagination proposes that new ... ...iness that expects creative results from its associates. Society may believe an invention is truly revolutionary when, in fact, the creation is most likely a mere extension of a previous thought. References Marsh, R. L., Bink, M. L., & Hicks, J. L. (1999). Conceptual priming in a generative problem-solving task. Memory & Cognition, 27 (2), 355-363. Marsh, R. L., Landau, J. D., & Hicks, J. L. (1996). How examples may (and may not) constrain creativity. Memory & Cognition, 24 (3), 669-680. Marsh, R. L., Ward, T. B., & Landau, J. D. (1999). The inadvertent use of prior knowledge in a generative cognitive task. Memory & Cognition, 27 (1), 94-105. Smith, S. M., Ward, T. B., & Schumacher, J. S. (1993). Constraining effects of examples in a creative generation task. Memory & Cognition, 21 (6), 837-845.

Earths Ecosystem in Danger :: essays research papers

The study, by 1,360 experts in 95 nations, said a rising human population had polluted or over-exploited two thirds of the ecological systems on which life depends, ranging from clean air to fresh water, in the past 50 years. "At the heart of this assessment is a stark warning," said the 45-member board of the Millennium Ecosystem Assessment. "Human activity is putting such strain on the natural functions of Earth that the ability of the planet's ecosystems to sustain future generations can no longer be taken for granted," it said. Ten to 30 percent of mammal, bird and amphibian species were already threatened with extinction, according to the assessment, the biggest review of the planet's life support systems. "Over the past 50 years, humans have changed ecosystems more rapidly and extensively than in any comparable time in human history, largely to meet rapidly growing demands for food, fresh water, timber, fibre and fuel," the report said. "This has resulted in a substantial and largely irreversible loss in the diversity of life on earth," it added. More land was changed to cropland since 1945, for instance, than in the 18th and 19th centuries combined. Getting worse "The harmful consequences of this degradation could grow significantly worse in the next 50 years," it said. The report was compiled by experts, including from U.N. agencies and international scientific and development organizations. U.N. Secretary-General Kofi Annan said the study "shows how human activities are causing environmental damage on a massive scale throughout the world, and how biodiversity -- the very basis for life on earth -- is declining at an alarming rate." The report said there was evidence that strains on nature could trigger abrupt changes like the collapse of cod fisheries off Newfoundland in Canada in 1992 after years of over-fishing. Future changes could bring sudden outbreaks of disease. Warming of the Great Lakes in Africa due to climate change, for instance, could create conditions for a spread of cholera. And a build-up of nitrogen from fertilizers washed off farmland into seas could spur abrupt blooms of algae that choke fish or create oxygen-depleted "dead zones" along coasts. It said deforestation often led to less rainfall. And at some point, lack of rain could suddenly undermine growing conditions for remaining forests in a region. The report said that in 100 years, global warming widely blamed on burning of fossil fuels in cars, factories and power plants, might take over as the main source of damage.

Kingdom of matthias Essay

The Kingdom of Matthias tells the story of Robert Matthews, who later took on the name Matthias the Prophet. A religious charlatan in 1830s New York, Matthews established a â€Å"Kingdom† of fanatical followers, causing a nationwide scandal. Matthews’ most fervent follower was Elijah Pierson, who was born into a strict Calvinist church upbringing but who quickly got swept up in the evangelical, â€Å"perfectionist† movement upon his move to New York as a merchant. Elijah married a missionary woman named Sarah, and together they established a â€Å"Retrenchment Society† and other organizations designed to spread the word of God. In her fervor, Sarah literally worked herself to death, and died in 1830. The event spurred Elijah toward madness as he attempted to raise Sarah from the dead during funeral. Elijah started to hear God speak and he adopted the title Prophet Elijah of Tishbe. Simultaneous to these events, Robert Matthews was born and raised in a Scottish community called Coila. His parents died when he was young, and after several of his sons tragically died, Matthews began to hear God and see prophetic visions. He adopted the name Matthias. In May 1832, Matthews visited Pierson, and Pierson became convinced that Matthews was God’s Prophet. Matthews used Pierson’s merchant wealth to establish â€Å"The Kingdom.† Matthews preached regularly to a small band of followers. Eventually, he came to regard Christianity as the Devil’s work, and his philosophy was full of anti-woman hatred. Matthews convinced a wealthy couple, Benjamin and Ann Folger, of his prophethood, and soon he established a community at the Folger home in Sing Sing, which he called â€Å"Mount Zion.† Matthews ruled his community with an iron fist, dressing extravagantly, bearing an unkempt beard, punishing severely, and lecturing frequently. Not content with the Christian conception of marriage, several of Matthews’ followers forsake marriage to be united in the â€Å"Spirit of Truth.† This caused a good deal of scandalous â€Å"wife-swapping†, as it might be called today. Matthews and Ann fell for each other, and Matthews proclaimed Ann as the â€Å"Mother† of the kingdom. Benjamin strayed to Matthews’ twenty-year-old daughter Isabella, as well as to a widow named Catherine Galloway. The sexual intrigue proved too much for the community, and Benjamin and then Ann revolt. Additionally, an increasing public outcry against the Kingdom and its scandals assisted in its dissolution. One day, Elijah Pierson, suffering from seizures, ate blackberries and soon after died. The public rumor was that Matthews, along with his servant Isabella Van Wagenen, had poisoned the man. Matthews was arrested and tried with murder after two doctors conducted an autopsy and claimed there was poison in Pierson’s stomach. However, the prosecution had only a flimsy case, and the jury found Matthews not guilty of murder, but guilty of assault (for beating his daughter), and so Matthews served four months in prison. The Kingdom of Matthias scandal is noteworthy for sparking the â€Å"penny press† newspapers, with their obsession with crime and scandal, a tradition that continues to this day with such periodicals as National Enquirer.

Concussions: Traumatic Brain Injury and Moderate Concussion

Concussions A concussion is a clinical syndrome of traumatic brain injury (TBI) also referred to as mild brain injury (MBI), is characterized by immediate but transient posttraumatic impairment of the brain function. Mental confusion, alteration of mental status, and amnesia are hallmarks of concussion symptoms that may or may not also include the loss of consciousness. It temporarily interferes with the way your brain works, and it can affect memory, judgment, reflexes, speech, balance, coordination, and sleep patterns.A concussion may result when the head hits an object or a moving object strikes the head. A concussion can result from a fall, sports activities, and car accidents. Significant movement of the brain can cause you to lose alertness. How long you remain unconscious may be a sign of the severity of the concussion. However, you don't always involve a loss of consciousness. Most people who have a concussion never black out. You can have a concussion and not realize it. The re are three grades to scale a concussions severity.Grade 1 is considered a mild concussion that has no loss of consciousness; posttraumatic amnesia lasting less than thirty minutes. Post concussion signs and symptoms other than amnesia lasting less than twenty-four hours. Grade 2 is a moderate concussion, loss of consciousness lasting less than one minute. Posttraumatic amnesia lasting longer than thirty minutes but less than twenty-four hours: postconcussion signs and symptoms lasting longer than twenty-four hours but less than seven days.Grade 3 is a severe concussion, which consist of loss of consciousness lasting more than one minute or posttraumatic amnesia lasting longer than twenty-four hours. The postconcussion signs and symptoms will last longer than seven days. There are several things a doctor can do to test an athlete or a patient for a concussion. The doctor will perform a physical exam and check your nervous system. There may be changes in your pupil size, thinking ab ility, coordination, and reflexes.Tests that may be performed include: EEG  which is a brain wave test it may be needed if seizures continue, head CT  scan, and MRI of the head. Many signs that a doctor can look for are altered levels of consciousness such as drowsy, hard to arouse, or similar changes, confusion or feeling spacey, headache, loss of consciousness, memory loss such as events before the injury or immediately after, nausea or vomiting, seeing flashing lights, and feeling like you have â€Å"lost time†.If the concussion occurred during a sporting event and resulted in a headache, confusion, or change in alertness, a trained person must determine when that person can return to playing sports. Healing or recovering from a concussion takes time. It may take days, weeks, or even months. You may be irritable, have trouble concentrating, unable to remember things, headaches, dizziness, and blurry vision. These problems will probably go away slowly. You may want to g et help from family or friends before making important decisions.There is a testing that is call ImPACT testing that you test each athlete before physical activity. ImPact stands for Immediate Post-Concussion Assessment and Cognitive Testing. Then in the case of a concussion they can take the athletes after and retest them on their memory skills. ImPACT provides computerized neurocognitive assessment tools and services that are used by medical doctors, psychologists, athletic trainers and other licensed healthcare professionals to assist them in determining an athlete’s ability to return to play after suffering a concussion.

Medieval Era And Gawain And Green Knight English Literature Essay

One of the most honest and glorious epochs of all clip was the mediaeval period. The narrative of ‘Sir Gawain and the Green Knight ‘ portrays this facet of life throughout the full narrative. Although there were a batch of great narratives written during this point in clip, this one stood out the most amongst all the others. The mediaeval period, while really structured and proper, had a batch of really disgraceful things that went on in mundane lives. The narrative ‘Sir Gawain and the Green Knight ‘ was written in a verse type of manner like many of the other narratives thought up during this epoch. Because the narrative was written in such a splendorous and elaborate manner, nevertheless, it is known as a arresting success. Again, like many of the other narratives written from 500-1500, these narratives were composed as many states were going shaped into the states they are today. Many of the narratives written during this clip were besides written with many literacy traditions that the people of that epoch would understand ; better than the people reading the narrative today. Peoples in the Middle Ages were considered â€Å" homogenous. † Basically, all of the people, work forces and adult females, operated in the same mode, but were really of many diverse civilizations. Therefore, because ‘Sir Gawain and the Green Knight ‘ was written in the metropolis of Birmingham, a European state, it portrays the life that the people lived during that clip in that part. In the medieval epoch, the construction of their society was really dainty and proper. They had a male monarch and a queen, princesses and knights, and etc. The male monarch was in charge of everything and everyone in the land had to reply to him. Now in the instance of ‘Sir Gawain and the Green Knight ‘ they use a similar construction. The Sir Gawain is evidently beneath King Arthur for multiple grounds. First off, the manner they communicate with each other tells the reader rather a spot about where each individual stood. For case, the fact that King Arthur stairss down when â€Å" Sir Gawain † asks to take on the undertakings of the Green Knight shows rather a spot on how things were done back so. Sir Gawain asks to turn out himself, merely as King Arthur did before he merely about took off the Green Knight ‘s caput, to be courageous and honored by others. By making so, Sir Gawain will derive the regard he deserves from everyone, every bit good as maybe kn ock some of the fright of decease out of him every bit good. Although, Sir Gawain is beneath King Arthur, he is one of the most extremely apprehended knights that are among King Arthur ‘s tribunal. We know this because of the trust that King Arthur puts into him. When Sir Gawain says that he is traveling to take on the undertakings of the Green Knight, King Arthur allows him to make this with without vacillation. Even though Sir Gawain makes some â€Å" humanly † errors, throughout the narrative, he is still considered a really charming character in the narrative. Besides, when Sir Gawain does take on the duties of the Green Knight he does so entirely without aid from his fellow knights. Obviously, King Arthur thinks that he is â€Å" worthy † plenty to take the Green Knight on by himself. During his travel to the Green Knight ‘s palace, Sir Gawain is asked to remain at a different palace where the Godhead greets him with great cordial reception. The host asks Sir Gawain to remain a piece with them at his topographic point, and promises to allow Sir Gawain leave on New Year ‘s Day to contend the Green Knight. While Sir Gawain is remaining at the host ‘s palace the host asks him to rest while he goes out to run each twenty-four hours. The gimmick of the affair is that Sir Gawain would give back, to the host, what he had been given that twenty-four hours and the host would give him what he had caught that twenty-four hours. We start to see that Sir Gawain ends up snoging the lady of the palace on each twenty-four hours while the host Hunts game each twenty-four hours. The host gave a banquet and Sir Gawain kissed the host each dark ; to give back what he had been given each twenty-four hours. On the last twenty-four hours at the palace Sir Gawain is giv en a sash and Sir Gawain does non state the host. When he goes to the Green Knight the following twenty-four hours he laughs in Sir Gawain ‘s face for have oning the sash, evidently non giving it to the host. It was a trial for Sir Gawain. Thus, the Green Knight takes his â€Å" blows † and ends up merely cutting Sir Gawain ‘s cervix. Sir Gawain apologizes for non giving the sash to the host and the Green Knight takes the apology. Sir Gawain says he will have on the sash for the remainder of his life to remind him of his mistakes. When Sir Gawain returns to his place everyone greets him gleefully. Sir Gawain tells the whole tribunal of the escapade he had while he was gone. Everyone got a good laugh out of it and yet felt sorry for him every bit good. They all decided to have on green sashes every bit good in award of Sir Gawain ‘s courage and embarrassment. Basically, they ended up honouring him to the highest extent by making so for him. King Arthur did non even complain about anyone making so, which shows that King Arthur had somewhat regard for this one knight of his. He did non even get covetous of Sir Gawain for this either, which shows that he trust Sir Gawain plenty to non acquire a â€Å" large caput † about what he did. As in lasting the â€Å" undertakings † of the Green Knight and being honored by all â€Å" King Arthurs † people. Honestly, the sad portion of this full narrative is that the writer is unknown. We truly can non appreciate his work to the fullest extent ; as in it reflected the Middle Ages really good. I believe that this narrative will go on to be successful for many old ages to come. It portrays how life one time was long ago ; along with an interesting narrative.

Current Issues In Management And Education Education Essay

Nelson Mandela famously quoted ; Education is the most powerful weapon you can utilize to alter the universe Walsh, 1996. Mandela meant instruction in a wide sense ; its non thought to be gained entirely from reading or sitting in schoolrooms and can non be half-heartedly undertaken. Basically, it ‘s associated with life and development, determining the hereafter to bring forth a righteous, democratic society ( Walsh, 1996 ) . This assignment aims to research the development of university instruction and foreground how current economic and political climes have affected the higher instruction experience. John Stuart Mill, a philosopher dating back to the 1800s, suggested that higher instruction was to be provided as a ‘public good ‘ to profit the whole community with societal facets being undeniably of greater importance than a high winging calling ( Phippen, 2012 ) . Gratuitous to state, the educational system has drastically changed in modern society. Today there is an outlook that immature people will derive a grade, whereas in the past grades were n't as to a great extent sought after. Changes within the non-market facet of society viz. , societal, political and legal factors, such as technological progresss and alteration in authorities, are a conducive factor to the educational system alterations ( Phippen, 2012 ) . Liberalism is thought to be replacing public good with the construct of ‘individual duty ‘ which has been argued in pattern to supply superior cumulative public good ( Phippen, 2012 ) . Liberalism was chiefly identified through the Hagiographas of Adam Smith ( 1776 ) which eradicated authorities engagement in economic affairs and hence promoted ‘free trade ‘ ( Martinez and Garcia, n.d. ) . The policy of free trade induces the argument as to whether the populace and authorities should lend to the support of universities if the result is entirely personal addition for the pupil in footings of possible greater occupation chances, with the public non having the return on investing they expect ( Phippen, 2012 ) . Neoliberalism, ‘New Liberalism ‘ , has been revived over the last 25 old ages with the rapid globalisation of the capitalist economic system, switching control from the populace sector to the private sector with strong support from administrations such as the IMF and World Bank ( Martinez and Garcia, n.d. ) . Neoliberalism policies can be clearly observed in today ‘s society with marks that the affluent grow wealthier and the hapless grow progressively poorer, foregrounding morality issues such as equality ( Martinez and Garcia, n.d. ) ( Phippen, 2012 ) . With the present addition in university fees in England there is a strong possibility that, in the hereafter, merely those coming from affluent backgrounds will be able to afford higher instruction. The ‘University ‘ stigma has changed quickly and is continually developing in footings of organizational construction, nucleus rules and aims ( Scott, 2012 ) . Increasingly, universities are get downing to see themselves as corporate administrations with corporate values ; promoting systematic direction attacks ( Scott, 2012 ) . This alteration in bottom line construction could better establishment ‘s fundss and operations, supplying a â€Å" stronger focal point on high quality instruction † ( David Willets cited by Coughlan, 2010 ) . On the other manus, due to increasing answerability force per unit areas and the tenseness between intrinsic liberty and the changed nature of modern university, ‘critical question ‘ and ‘academic freedom ‘ could be removed from the modern educational construction ( Scott, 2012 ) . Higher instruction is progressively going one of the most extremely debated subjects within today ‘s alliance authorities ( Key Note, 2011 ) . Policies late implemented have cut educational grants for farther survey establishments in England in an effort to help economic recovery ( Key Note, 2011 ) . This abjuration of support has placed the ?9000 a twelvemonth fiscal load entirely on the pupil, enabling universities to replace a big portion of lost province support ( Coughlan, 2010 ) . He reports that in bend, pupils will progressively demand to be treated as valued clients in footings of the quality they receive. There is great national and so international involvement in the quickly altering educational construction due to the increasing figure of pupils from abroad seeking instruction in England ( Key note, 2011 ) . Controversially, the Welsh authorities has absorbed these fee additions for Welsh pupils prolonging the mix of public and private support ( BBC News, 2011 ) and in an utmost contrast, Scottish and EU pupils presently have no fees to pay at all if staying in their several state ( BBC News, 2012 ) . International pupils analyzing in the UK and other foreign establishments have an influential presence in the higher instruction system both financially and economically ( Richards, 2012 ) . With progressively more UK alumnuss seeking employment abroad, competition to pull the biggest encephalons has become an built-in portion of university selling ( Richards, 2012 ) . Mazzarol and Soutar ( 2002 ) claim that international pupils are confronting what ‘s been suggested as a push pull theoretical account. They say that through cultural attitudes in India and Asia, instruction is seen to be a manner of raising economic and societal position which is thought to ‘push ‘ pupils to analyze abroad in more educationally accessible states. The pull factor comes from planetary competition between host states and more narrowly institutional competition in footings of their selling attack to pull foreign pupils ( Mazzarol and Soutar, 2002 ) . With the UK being seen as a diverse, tolerant society and international pupils wanting more cognition of western civilizations, authorities engagement is indispensable to guarantee that educational quality is maintained ( Kelly, 2011 ) . Million+ ( 2013 ) province that international pupils contribute ?4.2bn to the UK economic system each twelvemonth ; loss of this gross could hold damaging effects on society. Frequently throughout instruction, pupils are told that deriving a grade will take to a good occupation ( Mckay, 2012 ) . The Mail online ( 2011 ) has stated that progressively universities are implementing ‘Mickey Mouse ‘ grades which do non hold significant bearing in the alliance market. Staffordshire University has been reported to offer David Beckham surveies taking to arguments proposing that the deficiency of social part of such classs, including cinematics, picture taking and media surveies, should non be aided by authorities support and public revenue enhancement ( Mail Online, 2011 ) . The statement advocates that an apprenticeship which enhances practical accomplishments would be of greater benefit. To advance economic recovery, today ‘s alliance authorities seek to supply 400,000 apprenticeship occupations by 2014-15, an addition from 2011 ‘s 279,900 chances ( Mail Online, 2011 ) . The justification of this alternate option has been highlighted thr ough ‘real-life ‘ success illustrations such as Richard Branson, who acquired merely one O-Level ( Mail Online, 2011 ) . With university operations and the support of higher instruction being at the head of media and political attending late, inquiries are raised sing whether the addition in fees match possible additions in order to do university a worthwhile investing. Alumnuss are happening it progressively hard to acquire onto the 'employment ladder ‘ and figures show that more than half of new university pupils will still be paying off debts into their 50 ‘s ( The Telegraph, 2012 ) . Interestingly, HEPI ( Higher Education Policy Institute ) have forecasted that the current ?9000 fees are non sustainable and will finally coerce the higher instruction system to go a polarised sector ( Sellgren, 2011 ) . The article forecasts that entire pupil figures will diminish by at least 8 % each twelvemonth, with Million + ( 2013 ) describing the unwanted deductions of this lessening on the British economic system. The exchequer additions ?94k per alumnus and moreover alumnuss can theoretically command higher rewards which would increase revenue enhancement gross to the treasury, making long term social benefits ( Million + , 2013 ) . Groves ( 2012 ) stated that the National Union of Students has attributed the proliferation of increasing pupil self-destructions to fiscal force per unit areas. Since the start of the recession in 2007, Male self-destructions have increased by 36 % and females about double ( Groves, 2012 ) . This has led to a great demand for an addition in the support of pupils and so alumnuss seeking for occupations ( Groves, 2012 ) . Academic force per unit areas and declining occupation chances are besides thought to be a conducive factor and a recent BMJ survey connected lower employment degrees to higher self-destruction rates ( Groves, 2012 ) . But hope could be on the skyline. BBC News ( 2012 ) have announced that unemployment rates have decreased by 49,000 from September to November 2012 with the ONS claiming that the bulk of this was due to the diminution in ‘youth ‘ unemployment which could be the start of positive chances for alumnuss. This mark of possible economic recovery could be disputed as the lessening has been attributed to more people accepting portion clip work, with record Numberss making so as they are unable to happen full clip work ( BBC News, 2012 ) . Increasingly more and more alumnuss are seeking employment in a more favorable environment overseas ( Daily Mail, 2011 ) . Some say that the UK are neglecting its alumnuss in the sense of keeping after it emerged that about two tierces were unable to happen degree degree employment upon graduating ( Daily Mail, 2011 ) . This thrust in alumnuss prosecuting calling aspirations overseas could foster increase Britain ‘s economic jobs ( Daily Mail, 2011 ) . With limited Numberss of chances within the current economic system employers are get downing to look for more than merely a grade ( Daily Mail, 2011 ) . Experience within the concern universe is going a necessity for employers, taking to the development of unpaid internships ( Page, 2012 ) . Unpaid internships, a cost film editing mechanism for administrations, cut down the figure of paid occupations available to alumnuss. In footings of employment moralss this has become a really diverse topic. Implementing a prohibition on thi s legitimate unethical act is highly hard with pupils ‘ progressively needing experience to derive a bridgehead onto the calling ladder ( Page, 2013 ) . An statement being, people who do non go to university and travel directly into work have at least 3 old ages more experience in the working universe than a alumnus which could do them more favorable in society ( Mckay, 2012 ) . Stating this, there are besides many positives associated with set abouting farther instruction which have been overlooked late as focal point has been on fees instead than advancing value. Higher instruction should be measured utilizing other dimensions than chiefly interlingual rendition into net incomes for illustration, occupation satisfaction and public good. A individual who has n't achieved a degree degree making could be running a successful concern but may non see the same degree of occupation satisfaction as person gaining less, with a grade and debts such as a Nurse whose function in society is critical and displays the prototype of ‘public good ‘ . Iqbal ( 2013 ) suggests intrinsic values and intangible benefits must be taken into consideration as accomplishments developing may non be the most significant component of higher instruction. Developing as a individual and deriving movable accomplishments such as a wide head set could see the alumnus going more wel l-thought-of in society through cognition of independency and adulthood ( Iqbal, 2013 ) . Parraudin ( 2011 ) claims that it is a shame that university has become a trade good and focal point has been on cost when for most, the experience as a whole is an embracing life chance. It enables the pupil to gain aspirations, develop the degree of adulthood needed to boom in the workplace and could set the alumnus in an enhanced place to a non-graduate when sing social benefit ( Parraudin, 2011 ) . Another statement in favor of alumnuss come ining the workplace is the increased demand and aspiration to be a portion of a socially responsible corporation which has today go a precedence for administrations ( Rao and Raj, 2011 ) . Graduates choosing to take an employer based on their socially responsible behavior can merely be seen to hold a positive impact on both the concern environment in footings of moralss and so in the planetary economic system itself. Corporate Social Responsibility is critical for corporate citizenship to turn to affairs such as utilitarianism, liberty and rights ( Phippen, 2012 ) . Non-Conformists to ethical imposts, for illustration, the revenue enhancement argument environing Starbucks, Google and Amazon has led to the reception of a batch of negative media attending. Milton Friedman, market economic expert, stated that carry oning corporate duty can so let a concern to â€Å" do as much money as possible while conforming to the basic regulations of soc iety, .. both law.. and ethical usage † ( Halbert and Ingulli, 2012 ) . The force per unit areas implemented by alumnuss for administrations to conform will progressively help sustainable development in the hereafter ( Rao and Raj, 2011 ) . In footings of society part within direction and concern development, alumnuss and the younger coevals progressively have the border claim NYDA ( 2013 ) . This is positively highlighted in the patterned advance of the cyberspace civilization which is germinating at an exponential rate with the younger coevals accommodating and encompassing technological promotions at a much greater velocity than that of their seniors ( Nickson, 2013 ) . With more concerns turning to this medium non merely to pass on with clients but besides to run day-to-day operations and better internal efficiency, the alumnuss ‘ ability to come on aboard technological promotion with easiness should n't be overlooked. Coevalss are progressively going separated through the technological ‘generation spread ‘ ( Fariwu, 2010 ) , stressing the necessity for the alumnus in future economic growing and in supplying corporations with a much needed sustainable competitory advantage. This assignment has been greatly good in finding my single beliefs on higher instruction and has clarified what I believe is mine and other alumnuss ‘ societal place. A direction instruction does non restrict future calling possibilities in comparing to a vocational grade. This could be seen as good due to geting a wide cognition of the concern industry as a whole, an ideal property for concerns today as all sections need to be cohesive to make a sustainable hereafter. As Napoleon Hill ( 2007 ) one time proclaimed, the â€Å" starting point of accomplishment is desire † . To be successful in concern and direction the campaigner needs to be adaptable to alter, which is obviously seeable above through the younger coevalss conformity towards technological promotions. These are traits that are developed throughout childhood and are so enhanced through a university instruction. Gratuitous to state, some of the most successful business communities and adult females have non obtained a university grade which suggests that direction and associated callings do non entirely get down in university but natural traits of leading can besides predominate. I have assurance in aerating my beliefs that A-level pupils should hold all available calling options reinforced in an impartial manner. Through my ain educational development, the merely ‘successful ‘ option highlighted to me was farther instruction. Other options such as college, apprenticeships and working your manner up a company were suggested in a blase manor with the negatives 2nd to none outweighing any positives. Questions have been raised by myself and others associating to the issue of whether 17 is excessively immature to make up one's mind upon a future calling. Personally, I was diffident what I wanted and after set abouting legion work experiences, and non happening my niche I was stuck in a rut. Finally I gained a corporate work experience arrangement at Brains Beer brewery which showed me that a wide sector grade such as concern would non contract future chances, enabling more clip to make up one's mind upon my calling aspirations. Another sentiment I put to you is that possibly after secondary instruction all pupils should take a spread twelvemonth. I feel it would coerce immature grownups to farther mature and whether they work or travel it could give them a better word picture of what they want to carry through. I besides feel a interruption from instruction and tests could be of utmost value as I experienced last twelvemonth during my placement occupation. The interruption has reignited my motive to analyze antecedently I had undertaken tests for 7 back-to-back old ages. From talking to others sing the capable affair, a subject has emerged where the bulk are against the fee addition with a peculiar statement that stood out of why should we back up a authorities who wo n't back up the young person of today? The function of university is thought to make â€Å" capable and cultivated human existences † ( . It aims to develop assurance, supply cognition and a skilled work force. University is thought to be an investing, in footings of long term fiscal addition and so societal addition. Today I feel university is really much about personal addition instead than what the pupil can convey to society. I accept there is, in a manner, a valid statement for public and authorities support non to be maintained if every bit forecasted, it will so assist assistance economic recovery. Stating this, surveies have been released claiming it wo n't in fact assistance recovery as fewer pupils, a bead of 30,000, will really be the UK ?6.6bn ( Coughlan, 2013 ) . Initially when make up one's minding to ship on a university instruction, my ultimate purpose was to heighten calling chances, but the experience as a whole has provided much more than expected. My confidence has grown enormously and the differences I can are personally are extended. Meeting dissimilar people and socializing with different civilizations has provided a societal benefit I did non anticipate. Other unexpected values that have been enhanced are ; independency, life accomplishments, apprehension of the professionalism, the ability to work expeditiously in groups and get the better ofing issues which can all be usefully applied to the existent universe. I agree that experience is an of import necessity that should be incorporated into farther instruction. Not merely are employers progressively looking for more than merely a making, it can be of extreme benefit to the pupil every bit good. It gave me the assurance to cognize that I can boom in a concern environment and allowed me to set the learnt theory into pattern. The twelvemonth in industry provides a pupil with the realization of concern highs and depressions and provides a more soft passage into the on the job universe. From grounds antecedently highlighted, I am now ashamed to state that I succumbed to the force per unit areas of deriving work experience and embarked on a twelvemonth long unpaid internship as portion of my 4 twelvemonth grade class. I found my ideal occupation, ‘Marketing and Communications Assistant ‘ for Cardiff Blues Rugby squad, with one ruin: it was unpaid. Through deliberation of the options available to me and sing the attempt I had put into seeking an undergraduate arrangement, it was an chance I did non desire to turn down. I felt a twelvemonth working, unpaid, in an industry of involvement could be of long term benefit. It did non happen to me that through Cardiff Blues offering unpaid internships, it in fact reduces the figure of available paid alumnus chances. I gained a batch from the under-graduate arrangement. I worked a lower limit of 40 hours a hebdomad and when there was a rugby lucifer this rose to 45-50 hours a hebdomad. Fortunately I had some fundss behind me as a support system but it was n't plenty for me to populate on so I undertook another occupation working in meetings and events for a corporate hotel concatenation. This proved to be tough as many yearss I would work 17 hours with the record being 90 hours ‘ in one hebdomad! This showed me how tough the on the job universe can be but furthered my cognition on how different industries operate. I hope it was a forfeit that will be good in the long tally. I believe this chance puts me in a strong place as a alumnus when looking for work due to the experience received every bit good as demoing versatility. I besides ran the 2012 London Marathon and raised ?2500 for Children with Cancer which was a great accomplishment and shows dedication as I was working up to 80 hours a hebdomad every bit good as preparation and fundraising for this. Charity work will so play in my favor as part to society when seeking alumnus employment. Once my arrangement occupation had drawn to an terminal ( and after months of salvaging every penny ) I went going for three months before returning to university to finish my concluding twelvemonth. The experience was unforgettable and so larning about other civilizations opened my head further to future possibilities. Traveling, in my sentiment, is the most independent thing one can make, larning so much about yourself and the duty can undeniably develop your character. Reflecting upon the recent fee additions and looking at personal fundss, as a Welsh pupil a much more financially stable option for me would hold been to remain in Wales to go on my surveies due to the support I would hold received from the Welsh authorities. At the clip I was inexorable that I wanted to travel from Wales as the ‘grass is ever greener ‘ but have since realised this is non the instance. For pupils now contemplating university, I think Cambrian pupils and so Scots pupils should stay analyzing in their several states if possible. Upon graduation my aspirations are to derive employment back in Wales. Since traveling, a long term aspiration will be to hopefully migrate to New Zealand where I can develop my direction accomplishments in a differing civilization and possibly even get down up my ain concern if fundss become accessible. Without the higher instruction experience I do n't believe that I would of all time hold acquired the bravery or self-belief to do such a drastic move but university has provided me with this independency. A survey in the South Wales Echo ( 2013 ) revealed that alumnuss will hold a much more hard clip happening employment in Wales than anyplace else in the UK. They reported that merely 42 % of major Welsh employers offer entry degree vacancies, when comparing that to 84 % in London it puts a instead black mentality onto the likeliness of deriving employment in Wales. Especially for me now, happening a occupation will be of great concern. I feel a 4 twelvemonth class has been long and financially I am presently in a worse place than many of my friends who did non take farther instruction. I am dawdling buttocks socially as many of them now have their ain place with their spouses, a full clip occupation and are get downing to settle down and hold a household. I hope that by the terminal of my journey this quotation mark below will be one of truth ; â€Å" I ‘m non stating you it ‘s traveling to be easy, I ‘m stating you it ‘s traveling to be deserving it † ( Goodreads, 2013 ) In decision, there have been statements both for and against the higher instruction experience. On one manus, information sing the proliferation of pupil self-destructions have highlighted that doubtless fiscal force per unit areas are impacting pupils. The media late have focused on the negative impact of the increased higher educational fees which are obviously doing people to see alternate options, a move which could potentially be the economic system one million millions alternatively of aid economic recovery. In footings of feasibleness, it would look necessary for people to ship on higher instruction for vocational classs such as medical specialty and jurisprudence. Losing this expertness could badly impact Britain ‘s economic and political place. What has emerged is the subject that ‘mickey mouse ‘ classs such as those antecedently mentioned, may non in world be financially good in footings of calling additions and social part. Unpaid occupations are doing it progressively hard for alumnuss to derive a bridgehead onto the calling ladder. This pushes graduates overseas, whereas Britain should concentrate on maintaining its endowment for economic stableness. Alumnuss should n't be overlooked in the concern universe as the hereafter of Britain. Through stronger sustainability beliefs and fast acceptance to technological progresss alumnuss have the potency to maintain Britain in a planetary competitory place. Other values derived from the higher instruction experience have a greater impact on a individual that can non hold a pecuniary value placed on it but statistically alumnuss have an mean potency of gaining up to 27 % more than a individual geting merely A-levels ( Million + , 2013 ) . Overall, even with the economic downswing and the weighing up of both sides of the statement I feel that a university instruction is a good investing for both the participant and so the economic system. For the UK economic system to retrieve support demands to be given to pupils as the alumnus has the potency of increased net incomes and in bend society will have high gross in footings of revenue enhancement.

Cash payment made on quarterly or semiannual basic by company to its shareholders.

The dividend decision is important because it affects the amount of internally sourced finance available and also affects the return received by shareholders on the shares. Once the company decided to pay dividends, they may establish a somewhat permanent dividend policy, which may show the impact of the investors and the financial markets. Establishing a specific dividend policy is to the advantage of both the company and the shareholder. The distribution of dividends requires the approval of the board of directors and paid out to shareholders a few weeks later. There are several dates between the times the board declares the dividend until the dividend is actually paid. The first date of note is the declaration date which the board of director declares the time or date is announced. The next date of note is ex-dividend date which time investors must have bought the stock to receive the dividend. The investor, who buying the stock after ex-dividend date is not receiving any dividend , record date, is a few days after the ex-dividend date the company close its stock transfer books and make up a list of the shareholder, who will receive the dividend. The final step is payment date which the checks of dividend will send to the shareholders. There are different types of dividend, which are cash or as additional stock which increase the number of shares outstanding and generally reduce the price per share, regular dividend which is paid at regular intervals, or a special dividend which is paid in addition to regular dividend and liquidating dividend which are excess of the retained earning they show on their book. There exist four main types of dividend policy theories Modigliani and Miller (1961) dividend Irrelevancy theory, Linter and Gordon (bird-in-the-hand) Theory, Signalling properties of dividend and clientele effect. Is the company’s dividend policy irrelevant to its market value? One of the financial theorists (Miller and Modigliani, 1961) provides a proposition for dividend policy irrelevance. They assume that perfect capital markets, meaning no taxes or transaction costs exist, the market price has many buyer or seller, and there is costless and feely access to information. Modigliani and Miller state that dividend policy was not one of the determinants of share price .Share value is independent of the level of dividend paid. A firm pay dividend is irrelevant and those stockholders are indifferent about receiving dividend. For example, from the aspect of investor, that the company paid too big dividend, investor could buy more share with the dividend that is over the investor’s expectations. Similarly if the company paid too little dividend, an investor could sell some of the company’s share to reflect the cash flow their expected. Market value of company its cost of capital is independent of its capital structure. According to their argument dividend policy is unaffected and irrelevance of market share price .Should the company pay out to its shareholders or retain that money to make new project. Modigliani and Miller’s dividend-irrelevance theory says that investors can affect their return on a stock regardless of the stock’s dividend Residual Policy Modigliani and Miller argued that financial objective is maximise shareholder wealth when the share price is maximised. Shareholders are indifferent between dividends and capital gain. Company is used M M Residual dividend policy when a company undertake all positive NPV project and paid out the residual as dividend. Alternatively a company with not enough funds to invest new project, paid no dividend and the additional funds can obtain from outside sources. They were arguing that if company followed the best investment policy the value of company is irrelevance to its dividend policy. They also argue that shareholders are also indifferent to the timing of dividend payment because if there were no dividends the market value of company would increase to reflect as future dividend and share price is also increasing resulting from the returns of investment. A dividend policy is irrelevant because shareholders have the ability to create â€Å"homemade† dividends that mean that ca pital gain is not perfect suitable for dividend in cash flow terms. This income is achieved by individuals adjusting their personal portfolios to reflect their own preferences. For example some shareholders prefer to get steady of income are more likely to invest in bonds, which interest payment don’t change ,rather than dividend –paying stock, which value can fluctuate. Bird-in-the-hand On the other hands, Lintner (1962) and Gordon (1963) believe that company dividend policies are relevant to their share price. Under conditions of uncertainty and imperfect capital market ,he argued â€Å"bird-in-the-hand† theory that investor can reduce the financial risk associated with their investment if the return is received in the form of dividend earlier, rather than capital gain or higher dividends later. On this analysis, current dividend represent less risky than future capital gain. Therefore, company paying higher dividend will be more worth than company paying lower dividend. Dividend policy is one of the importance factors of determining share price. Gorden argued that the payment of current dividends â€Å"determine investor uncertainty†. The key assumption, as argued by Lintner and Gordon, is that because of the less risky nature dividends, shareholders and investors will discount the firm’s dividend stream at a lower rate of return, â€Å"râ₠¬ , thus increasing the value of the firm’s shares. According to dividend growth model, the value of an ordinary share, Po is given by: Po=D1/(r-g) Where the constant dividend growth rate is denoted by g, r is the investor’s required rate of return and D1, represent the next dividend payments. Thus the lower r is in relation to the value of dividend payment D1, the greater the share’s value. In the investor’s view, according to Linter and Gordon, r the return from the dividend, is less risky than the future growth rate g. http://www.oppapers.com/eassys/Bird-In-Hand/536314 Signalling effect of dividend This theory argued that financial information is asymmetric and managers will always know more than shareholders about the future financial prospects of the company. The dividend declared can be interpreted as a signal from directors to shareholders about the strength of underlying project cash flows. Increasing dividend is usually seen as good news, indicating that the company has positive prospects. The theory of dividend signalling has usually refers to a cash distribution of retain earnings. http://www.jstor.org/pss/2328393 Reference Watson, D. and Head, A. (2010) Corporate finance Principles Practice.5th edition. Essex: Pearson Education Limited. Cash payment made on quarterly or semiannual basic by company to its shareholders. The dividend decision is important because it affects the amount of internally sourced finance available and also affects the return received by shareholders on the shares. Once the company decided to pay dividends, they may establish a somewhat permanent dividend policy, which may show the impact of the investors and the financial markets. Establishing a specific dividend policy is to the advantage of both the company and the shareholder. The distribution of dividends requires the approval of the board of directors and paid out to shareholders a few weeks later. There are several dates between the times the board declares the dividend until the dividend is actually paid. The first date of note is the declaration date which the board of director declares the time or date is announced. The next date of note is ex-dividend date which time investors must have bought the stock to receive the dividend. The investor, who buying the stock after ex-dividend date is not receiving any dividend , record date, is a few days after the ex-dividend date the company close its stock transfer books and make up a list of the shareholder, who will receive the dividend. The final step is payment date which the checks of dividend will send to the shareholders. There are different types of dividend, which are cash or as additional stock which increase the number of shares outstanding and generally reduce the price per share, regular dividend which is paid at regular intervals, or a special dividend which is paid in addition to regular dividend and liquidating dividend which are excess of the retained earning they show on their book. There exist four main types of dividend policy theories Modigliani and Miller (1961) dividend Irrelevancy theory, Linter and Gordon (bird-in-the-hand) Theory, Signalling properties of dividend and clientele effect. Is the company’s dividend policy irrelevant to its market value? One of the financial theorists (Miller and Modigliani, 1961) provides a proposition for dividend policy irrelevance. They assume that perfect capital markets, meaning no taxes or transaction costs exist, the market price has many buyer or seller, and there is costless and feely access to information. Modigliani and Miller state that dividend policy was not one of the determinants of share price .Share value is independent of the level of dividend paid. A firm pay dividend is irrelevant and those stockholders are indifferent about receiving dividend. For example, from the aspect of investor, that the company paid too big dividend, investor could buy more share with the dividend that is over the investor’s expectations. Similarly if the company paid too little dividend, an investor could sell some of the company’s share to reflect the cash flow their expected. Market value of company its cost of capital is independent of its capital structure. According to their argument dividend policy is unaffected and irrelevance of market share price .Should the company pay out to its shareholders or retain that money to make new project. Modigliani and Miller’s dividend-irrelevance theory says that investors can affect their return on a stock regardless of the stock’s dividend Residual Policy Modigliani and Miller argued that financial objective is maximise shareholder wealth when the share price is maximised. Shareholders are indifferent between dividends and capital gain. Company is used M M Residual dividend policy when a company undertake all positive NPV project and paid out the residual as dividend. Alternatively a company with not enough funds to invest new project, paid no dividend and the additional funds can obtain from outside sources. They were arguing that if company followed the best investment policy the value of company is irrelevance to its dividend policy. They also argue that shareholders are also indifferent to the timing of dividend payment because if there were no dividends the market value of company would increase to reflect as future dividend and share price is also increasing resulting from the returns of investment. A dividend policy is irrelevant because shareholders have the ability to create â€Å"homemade† dividends that mean that ca pital gain is not perfect suitable for dividend in cash flow terms. This income is achieved by individuals adjusting their personal portfolios to reflect their own preferences. For example some shareholders prefer to get steady of income are more likely to invest in bonds, which interest payment don’t change ,rather than dividend –paying stock, which value can fluctuate. Bird-in-the-hand On the other hands, Lintner (1962) and Gordon (1963) believe that company dividend policies are relevant to their share price. Under conditions of uncertainty and imperfect capital market ,he argued â€Å"bird-in-the-hand† theory that investor can reduce the financial risk associated with their investment if the return is received in the form of dividend earlier, rather than capital gain or higher dividends later. On this analysis, current dividend represent less risky than future capital gain. Therefore, company paying higher dividend will be more worth than company paying lower dividend. Dividend policy is one of the importance factors of determining share price. Gorden argued that the payment of current dividends â€Å"determine investor uncertainty†. The key assumption, as argued by Lintner and Gordon, is that because of the less risky nature dividends, shareholders and investors will discount the firm’s dividend stream at a lower rate of return, â€Å"râ₠¬ , thus increasing the value of the firm’s shares. According to dividend growth model, the value of an ordinary share, Po is given by: Po=D1/(r-g) Where the constant dividend growth rate is denoted by g, r is the investor’s required rate of return and D1, represent the next dividend payments. Thus the lower r is in relation to the value of dividend payment D1, the greater the share’s value. In the investor’s view, according to Linter and Gordon, r the return from the dividend, is less risky than the future growth rate g. http://www.oppapers.com/eassys/Bird-In-Hand/536314 Signalling effect of dividend This theory argued that financial information is asymmetric and managers will always know more than shareholders about the future financial prospects of the company. The dividend declared can be interpreted as a signal from directors to shareholders about the strength of underlying project cash flows. Increasing dividend is usually seen as good news, indicating that the company has positive prospects. The theory of dividend signalling has usually refers to a cash distribution of retain earnings. http://www.jstor.org/pss/2328393 Reference Watson, D. and Head, A. (2010) Corporate finance Principles Practice.5th edition. Essex: Pearson Education Limited.