The Effect of Shared Culture of Journalists on the...

The Effect of Shared Culture of Journalists on the Selection and Presentation of News News is formed through a selective process which is controlled by media professionals such as journalists correspondents and editors. Agenda setting, a theory created by Stephen Lukes, sees how journalistrs select news that is projected through the media. Agenda setting also sees bias in the media, which is most commenly dominated in the political broadcasts. The Glasgowuniversity media group agree with the use of agenda setting in the media and use it in their research. When looking at a political strike story the GlasgowUnivercity media group saw how the workers were presented in a negative view point. The†¦show more content†¦Gate Keeping supports the Traditional Marxism and the Manipulative Modal theories in which ownership and control influence members of the public through the media. Pluralists criticise this as the idea of conspiracy is unreasonable in their opinion. Also they see a variety of media sources which would make censorship useless. News values in the media show how news items are required to pass a selective process to determine what will enter public media. The theory of news values was created by Galtung and Ruge, they see that news stories have to meet a certain criteria in order to produce a successful newspaper or news bulletin. Galtung and Ruge see balance as important because maintaining the balance between international and national, heavy and light e.t.c, is very significant in constructing the news. Also personalities is a criteria. In politics, the person is more important than the policy, according to the News Values theory. The Glasgow University Media Group do not agree with this theory. They state that media do not express the complexity of the situation to the general public, they merely present the issue in terms of two warring sides and the effects on the public. They continue to state that, The vocabulary in broadcasted news is biased against specific groups and this bias structure consumes perspectives. Pluralists also criticise this theory.Show MoreRelatedEssay on The Concept of Moral Panics1884 Words   |  8 Pagessocial norms and values, and the subsequent disruption of social order. This essay will begin with a clarification of the terms moral panic and deviance and outline how the two concepts are related. It will then describe the processes of news reporting while making reference to Stanley Cohens established case study of the 1964 Bank Holiday fracas in Clacton, England as an example of such a media-fuelled moral panic. As briefly mentioned in the introduction, deviance occursRead MoreSocial Power of the News Media12127 Words   |  49 Pages1 Power and the News Media Teun A. van Dijk University of Amsterdam __________________ INTRODUCTION In the study of mass communication, there has been a continuous debate about the more or less powerful effects of the media on the public.1 Instead of reviewing these positions and their empirical claims, this chapter examines in more general terms some properties of the social power of the news media. This power is not restricted to the influence of the media on their audiences, but also involvesRead MoreKnowledge Management System4835 Words   |  20 Pagesmight run something like this: an engineer could know the metallurgical composition of an alloy that reduces sound in gear systems. Sharing this information organization wide can lead to more effective engine design and it could also lead to ideas for new or improved equipment. A KM system could be any of the following: 1. Document based i.e. any technology that permits creation/management/sharing of formatted documents such as Lotus Notes, web, distributed databases etc. 2. Ontology/Taxonomy based:Read MoreElectronic Media vs Print (Thesis Paper)13276 Words   |  54 PagesWhere America Gets Its News Table of Contents Abstract†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦3 Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.......................†¦4 Premise Statement†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 Personal Limitation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.......................†¦5 Methodology†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦5 Section 1: Birth of Electronic Media and its Popularity†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦6 Radio†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦6 Humble Beginnings†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦......6 From Navigation to News and Entertainment†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreEDPM CSEC15093 Words   |  61 Pagesexamination, a candidate’s performance will be indicated on the certificate by an overall numerical grade on a six-point scale as well as by a letter grade for each of three profile dimensions, namely, Accuracy and Speed, Knowledge and Comprehension and Presentation and Use of Technology. â™ ¦ DEFINITION OF PROFILE DIMENSIONS 1. 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A Second Adolescence Free Essays

He is healthy, has no known diseases or a family history that would suggest him particularly prone to illness. He awakening into a life and body he no longer recognizes. He has physically let himself deteriorate In a dark cubicle showing no Importance to his physical self (Lachrymal, 2004). We will write a custom essay sample on A Second Adolescence or any similar topic only for you Order Now Concern for ones physicality Is important in accepting the changes of middle age and being comfortable in one’s own body (Sharon, 1998). He begins to recognize his own body s importance because off crush he develops on his daughter’s friend. Starting to work out and place Importance on how he looks Is symbolic of his acceptance of his new body (Ben-Earl, Leave, Shave, 2008). His office job has made him somewhat sedimentary yet it appears to have little effect on his physical wellbeing except in athletic terms he begins to address. His body and physical image becomes important to him. He wants to feel attractive and begins working out vigorously. He once again sees himself as a sexual being and wants to feel good about himself physically. Ben-Earl, Leave, Shave, 2008) Changes at his Job serve as a catalyst for Lester to begin a transformation in his life in order to unify his self image with the actuality of his everyday Life(Lachrymal, 2004). Family dynamics: Luster’s relationship with his wife Is In shambles. They no longer support each other or have a sexual relationship. His relationship with his daughter is almost nonexistent and it is unclear if there is any extended family. No close familiar relationships exist in Lester life. It Is clear though that there was a time that he and his wife and daughter were happy. He often reminisces of a time when he had less to no responsibility and his whole life ahead of him. He feels stifled by his family and his Job and has no outlet to address this problem. Throughout the period of observation Lester makes a complete circle to self acceptance. He takes some drastic tepees but they are In the end successful. He develops a sexual obsession with his daughter’s friend which functions to snap him out of his state of complacency and begin to mix things up in every area of his life. He effectively begins to identify himself as an adolescent would testing boundaries and forming a new personality(anger, 2004). Caroline Is the dominant member of the family. She Is louder and more demanding than her child or partner. Image Is everything to her. 1 OF 7 important to her than her actual ability to successfully fill these roles(Barnett, 2004). Her whole persona is a set of illusions that are not based on reality. She is materialistic and lives in a world of half truths and delusion. As a mother her actions are hollow and self serving. They are for show as opposed to being truly supportive or helpful. She is overcritical, berating Jane on her appearance repeatedly. Adolescence is a time which is difficult for both the child and the parent(Anger, 2004). On the one hand a parent must be supportive an seen as in a position of authority while still giving their child room and space to mature and grow into the adult they are attempting too. Respecting an adolescent’s budding maturity while arming an adult relationship with them is extremely hard on a parent, who still sees their child as being a child. It does not count to pretend to be friends with the adolescent, and being ‘cool When what they want is a level of actual respect and consideration, which is the case between Jane and Caroline. It is so important for Caroline to appear to be listening to and understanding her daughter that she loses sight of the person Jane is. As a father he is unable to connect with his daughter. Lester begins to try to talk to her but at this point she is uninterested in meeting him half way and it’s unclear she ever will. The obvious attraction he has to Angela alienates Jane and separates them emotionally further. Father and daughter could potentially be allies against Carolynn ‘s conformist nature, but Luster’s adolescent fantasy puts them permanently at odds. By paying more attention to the object of his desire, Angela, he proves to Jane that her feelings are of no consequence to him. He genuinely seems to want a more honest relationship with Jane, but fails to see the connection between his feelings for Angela and his parental role. Lester is able to play a parental role for Angela that he cannot for his own daughter. He manages to e comforting and accessible. As a wife Caroline is the first to step out on their relationship and partnership. In order to feel like a woman and sexually attractive she begins a sexual relationship with an icon of her chosen profession(Barnett, 2004). She is able to validate her decisions through this sexual relationship. His perceived success emboldens her in her primary relationship(Ben-Air, Leave, Shave, 2008). Psychological Influences: Lester becomes aware all off sudden that he is unhappy with his life. He makes a conscious decision to change his surroundings and instead of losing his Job which as the probable outcome of restructuring at the office, he takes a stand and refuses to be overlooked. Revealing an abuse of power he is able to manipulate his bosses to give him a year’s salary with benefits. This freedom allows him to begin a path to self discovery that codifies his self image with how he is perceived by the world. Over the course of the few months we have access to Lester he goes through distinctive stages of development akin to that of an adolescent. Risky serves as an attachment relationship for Lester. He is able to form a close secure attachment to Risky and egging to stretch the boundaries of his previously rigid position in family as well as community(Sable, 2008). This is in line with the convoy theory (Antibiotic, Kamala, Dashiki, 2004) which stipulates that attachment relationships change and continue to form over time. Risky serves to both father and daughter as a stable reliable relationship that the can count on(Sable, 2008). This allows Jane to express openly comfortable and confident with her changing body. It allows Lester to once again believe in himself as having worth and no longer defining himself solely as a husband and father. He begins to explore what he really wants and what he needs to do to get there. He finally begins to start doing for himself. Although in the most classic terms possible he is living out a midlife crisis, it appears that for him this is a process of maturation and acceptance he previously did not have a chance to experience(Lachrymal, 2004). He is mirroring the psychological experience his daughter should be going through(Morris, Silk, Steinberg, al. , 2007). He buys the car he wants, starts working out, starts smoking pot and standing up to his wife. Lester brazenly demands respect and independence both in his family and Job. He exclaims that things are changing and no longer allows his wife to bully him or talk over him. He makes a loud and overt demand for respect. He wants the same amount of freedom as his wife and daughter and symbolically breaks the bonds of restraint by disrupting dinner, breaking a plate against the wall and demanding a change of music, atmosphere and pecking order. It is the first clear step towards Lester being able to redefine himself both internally and externally(Lachrymal, 2004). Theoretical perspectives: The majority of middle aged people report having more satisfaction and less anxiety bout their abilities and describe a sense of perfecting skills(Lachrymal, 2004). Stereotypically the midlife crisis hits a huge percentage of people yet only a small percentage actually seem to. It is a period in which people have a chance to review their decisions and life choices, and come to terms with what they have achieved or not achieved. They may be exactly where they want to be or some may have to adjust their self image to incorporate the way their life actually looks potentially leading to crisis. This is the case of Lester Barman. He describes waking up from a 20 year mom and finally becoming aware of, and wanting to participate in his surroundings. Luster’s internal world is pretty much dead before meeting him. He describes an awakening one day with the feeling that his life is n. Tot his and he no longer recognizes the different systems he is involved in. Using his work difficulties as a catalyst, he becomes able to change his entire life into something he can accept(Antibiotic, Kamala, Dashiki, 2004). Lester seems to have not formed a functional attachment style with anyone in his life until he ‘wakes up’ (film) after feeling like he had ‘been in a coma for 20 years. He starts to develop an attachment relationship with Risky in a sense. He eventually becomes comfortable with what he feels is his true self, and secure with Risky. Psychological Progress: Insinuators and Bowls idea that attachment forms and changes over the life span supports the idea that Lester gains a sense of security through his relationship with Risky(Antibiotic, Kamala, Dashiki, 2004). Rick’s attachment to his father is nonexistent. He feels protective of his mother but neither of his parents has provided safety or comfort for him in moments of distress, one of the most salient bobs of a caregiver(Sable, 2008). He instead has to take on the role of care-giver and protect and defend his mother who is otherwise helpless and alone. Risky easily slips into a similar role with Lester, being the familiar role he is used to. Lester gains wisdom and self awareness by mirroring an adolescent sexual attraction. He exploration and discovery an adolescent typically engages in (Aren’t, 2000). Instead of his parents Lester rebels and redefines himself within in the family structure he has created as an adult. He pushes emotional limits and attempts to make connections in ewe and more passionate ways. Coming full circle Lester finally is able to accept the man he is and the life he lives. He goes through a growing process a kin to that an adolescent would when creating an adult identity. Lester tests his new self out in all of the major areas of personality and finds himself in a body he accepts with a persona he is comfortable with(Anger, 2004). Luster’s restraint in not having a sexual relationship with Angela demonstrates a level of maturity he did not previously possess indicating successful personality growth towards adulthood. When Lester anally sees Angela as the child she is and is able to comfort her expressing fatherly instinct his competence as a father is proven to him. He is able to reassure her without being patronizing and respecting her growing maturity, an important role parents play for adolescent children(Anger, 2004). In a sense Lester uses Angela as a proxy for his daughter as soon as he identifies her as something more than a sexual object. The fact that Lester recognizes the extent to which a sexual relationship with one of Cane’s friends would be inappropriate, the love he has for his daughter and ole as a father is reestablished. Lester gains solace by looking at a picture of the glory days of his family where they are all smiles. His ability to renew his life and find beauty in the ups, downs and seemingly mundane moments is testament to his development as a mature, well adjusted adult(Lachrymal, 2004). SOCIAL FACTORS: Gender Roles / Gender Conformity: Lester and Carolina’s marriage does not follow strict gender roles in the classic sense of man as bread winner woman as home maker (Lore, 1994). Carolyn views herself as the bread winner of the family. She has proclaimed herself the captain of her emails social standing. She believes that one’s social position can be directly related to economic gains. For her, money and material gains are the most important marker of one’s overall success socially. Making money is the most important thing for her. It is unclear how much money she actually contributes to the family, but ‘sole bread winner’ is a role she takes on readily if loudly (Mikhail, 2004). It is a typically make role, yet she somehow thinks that by both worrying about economic status and appearance she deserves more credit and admiration (Barnett, 2004). She is the first o fully disregard her marital relationship. Her sense of entitlement increases as their relationship moves forward. Masculinity and Homophobia: Considering masculinity to be socially constructed provides men with agency in forming the prevalent view of masculinity. Masculinity being malleable allows us to step back and identify exactly what we require of men to be ‘manly’ in our society (Kismet, 2004). The pressure is insurmountable for some people. Risky dad is unable to accept himself for who he is and his internalized homophobia is so devastating that he feels he is forced to act to defend his manhood. Luster’s truthful acceptance of the realities of his life in the end is what ends his life. Not accepting popular cultures definition of masculinity and the freedom that allows is Lester is terrifying to a man who has based his life around not admitting or accepting the truth of his situation. Military Perspectives on Homosexuality: homosexuality. Don’t ask don’t tell (DADA) being the official position thought of by some as a progressive policy for the military was not repealed until 2011(Bird,2014). Showing how ingrained homophobia is in a military psyche. The staunch difference teen other nations policy on civil equality, even in the military is astounding. Take for example the United Kingdom and Australia’s response to transgender soldiers serving verses the United States. Julia Bard’s 2014 New York Times article ‘The Courage of Transgender Soldiers’ elucidates Just how polarize these nation’s policies actually are (Bird, 2014). ‘Department of Defense regulations don’t allow transgender individuals to serve in the U. S. Military, based upon medical standards for military service. † (Bird, 2014) The official position of the United States military is hat being transgender is a mental disorder as defined by the ADSM Ill of 1980(American Psychiatric Association, 1980), instead of adopting the current medical standard for considering gender nonconformity (gender dysphasia) not as a psychological disorder in and of itself (American Psychiatric Association, 2013). Solidarity and respect are shown to transgender members of the military in both the U. K and Australia while the United States military continues to use an antiquated theory of gender, allowing official intolerance (Kernighan, 2012). Homophobia in the Military: In 1999 DADA was the official Clinton era policy adopted by the United States in 1993 (Burlier, 2010) to address civil equality in the military. Homosexuality remained a disagreeable ‘offence’ when openly expressed changing very little for LIGHT military personnel. Same-sex orientation after DADA was enacted was still a disagreeable offence. The law did not prevent service members from being asked about their sexuality rather it removed questions sexual orientation from recruitment questionnaires. Military members and prospective recruits were not allowed to discuss their same-sex orientation risking discharge or denial of entry if they did Burlier, 2010). The argument for not allowing homosexual service members to disclose was the concept that ‘an open statement by a service member that he or she is a homosexual will create a rebuttal presumption that he or she intends to engage in prohibited conduct,’ (Burlier, 2010 p. ). Regulations are not put on heterosexual service members discussing their personal exploits, fantasies or desires. Several sexual practices are considered ‘prohibited’ both under military code and civil courts, yet the assumption is not made that these acts have or ever will take place. DADA did very little for improving the actual situation and daily lives of LIGHT service me mbers. The actual number of discharges due t same sex relationships was not significantly different before and during DADA policy years (Burlier, 2010). Rampant homophobia was a social requirement isolating and associating closeted LIGHT service members (Kier, 1998). The fear at being discovered was a daily reality. Anyone could tern a soldier in for same sex activity, actions as innocuous as holding hand. This leaves individuals suspected of homosexual ‘conduct’ (Burbler 1995) alienable physical and verbal attacks as well as official action being taken. Hetero- normative principles were the sole cultural atmosphere. Colonel Frank Fits served in the military even before DADA was the official policy. The much more restrictive, abrasively homophobic policy adopted during the time of his service shaped his attitude was a requirement of service. Any closeted member of the military would have to internalize feelings of self hatred due to the constant anti gay rhetoric. Internalized homophobia and it Repercussions: Frank Fits identifies himself purely based on his military experience. He has no identity other than colonel. He does not take on or identify with the role of husband or father. He coldly treats his family as cadets below his rank. His own sun refers to him as Colonel or Sir as one would a superior officer. The fact that Frank Fits cannot be anyone but the coroner he once was makes it impossible for him to explore, let alone accept feeling and attitudes that the military looked down on. Introspection does not exist for him. Orders, fear and denial run this man’s life. His sexual curiosity and feeling of lust towards men are so unacceptable to Frank that he builds is life around his explicit homophobia. Cool. Frank Fits’ residual self hatred, fear and shame pushed him to most the extremes of discrimination and racist principles. His internalized homophobia shaped his relationship with those closest to him, his wife and son who he alienates (Frost, Meyer, 2009). Hiding this part of his internal self in the end defines his entire life. Offensively attacking any chance he got to not have his internal self exposed to the public or himself. Lashing out offensively is a defense strategy so that he will never be exposed to others or himself. The anguish and embarrassment Cool. Fits experiences by being what he thought to be rejected by Lester provoked emotions so strong that he had to kill Lester to be able to live with himself. Luster’s comfort and ease while discussing his own marital relationship mixed with misunderstanding previous events convinces Cool. Fits that Lester is a closeted homosexual. The fact that Lester is neither actually gay, nor homophobic shattered Cool. Fits’ world. The Cool had to play the role of the macho heterosexual for so long made that he became overly Jealous, controlling and abusive to his wife. Being less aggressive would have made him appear weak in his military unconsciousness. This fact made it inconceivable that Lester could be unapologetic, calm and without anger or Jealousy at the fact that his wife was with another man. A freedom Frank Fits could never allow himself. He ends Luster’s life right at the moment that Lester is able to achieve something that the Cool. Cannot, self acceptance. Conclusion: Luster’s acceptance and renewed love of life ends up being what kills him. Lester is able to accept in other people facts that they cannot accept about themselves. Cool Frank Fits does not possess the skills to regulate his emotions or cope internally hen faced with a threatening situation, choosing instead to lash out in violent anger (Morris, Silk, Steinberg, al. , 2007). For Frank Lester becomes the embodiment of all the sexual feelings he cannot except within himself. Killing Lester is a desperate attempt to kill the feelings Frank most fears. Lester reaffirms his identity as a well adjusted adult when rejecting his foolish adolescent urges. He accepts what he has accomplished and is at peace with who he is, uniting the image he has of himself with the actuality of his life. Typically this type of review is done later in life(Lachrymal, 2004). Lester is afforded the luxury of being at peace before he dies even though it is sudden. How to cite A Second Adolescence, Papers

Research Literacy for Royal Perth Hospital-myassignmenthelp.com

Question: Write about theResearch Literacy for Royal Perth Hospital. Answer: Introduction This paper aims to identify and expound on some of the challenges faced by the health department and the available solutions that will ensure the patients get the services they deserve and the doctors, on the other hand, do not break the oath they were sworn into when they started to practice medicine. Also, it will show the benefits of a proper research done to Royal Perth Hospital in the Western part of Australia on the methods by which effective communication can be achieved among people who speak different languages. The main problem faced in this hospital, is the fact that the patients come from diverse backgrounds hence speak in different languages thereby patient-doctor communication becoming a challenge. The paper also highlights the ethical difficulties, such as patients feeling uncomfortable communicating to the researcher due to certain reasons, associated with the recruitment of focus groups comprised of doctors and patients in a research project. The Main Challenge Facing Royal Perth Hospital The Royal Perth Hospital serves very many people from Australia most of them being immigrants who are not very fluent English speakers (Heath, Orrell, Lee, Pearman, McCullough, Christiansen 2003, pp.4652). It is known to have the most occupied emergency reception area and also handles very many cases of trauma (Heath et al 2003, pp. 4651). A nurse in the emergency care unit shed light on the issue of communication saying that each day they deal with many people most of who speak in unfamiliar languages (Roter, Hall 2006, pp.45). Following the research, some of the patients ended up not receiving the medical help they needed since the doctor tried as much as he/she could in understanding the patient's problem but due to the barrier created by the language the proper assistance was not given (HaLongnecker 2010, pp.39). Also, for the patients in the ward who were not conversant with English, communicating to the rest of the stuff such as those in the kitchen department was a problem, therefore, they were unable to ask for the food options they preferred. To ensure no patient was misunderstood or served in an unsatisfactory manner, communication needed to be enhanced (BenderSartipi 2013, pp.333). The hospital had hired fifty translators, however, only two of them translating Chinese and Vietnamese were permanent workers. An effective solution would be to increase the number of permanent translating workers within the emergency unit since it is the busiest unit. Enablers and Barriers of Best-practice Research showed that implementing the solution stated above would be challenging since it would cost the hospital more money to have a full-time translator as compared to hiring them when their need arose (Hudelson 2005, pp.331). The government of Australia allocated $54.3 million in the budget year 2013-2014 for translation and interpretation services in the Refugee and Humanitarian Program. On the bright side, however, the issue of a language barrier and unsatisfied patients would be completely erased as the doctors would have a clear understanding of the patient's condition or injury before they start treatment (Hudelson 2005, pp.332). Another solution would be to use mobile translating software to enhance communication between the patients and the medical practitioners. Research showed that the convenience brought by the software surpassed that of a professional translator and it was also cost effective (Prgomet, Georgiou, Westbrook 2009, pp.792). Also, the software was available to everybody with a smart phone hence; the nurses did not have to wait for the translator in order to attend to the patients (Lee 2007, pp.245). The technology enabled the nurses to describe the prescriptions to the patients and also for the kitchen employees to discuss the diet choices that were favorable to the patient according to his/her religion. Patients were also able to ask questions and get clarity about their conditions (Lee 2007, pp.246). Team work among the staff was increased since they could communicate easily. On the down side of this software technology, questions of how accurate the translations were coming up and more time were needed for a more precise version of the software to be created. Ethical Implications Associated with the Proposed Research Project Following the example of Royal Perth Hospital above, focus groups comprising of nurses, doctors, and patients could be recruited to find out ways to enhance communication within the hospital setting. In the previous years, the use of focus groups has been on the rise to collect information on various issues concerning health (Barbour 2005, pp.742). There are ethical problems associated with the use of such a diverse focus group (Barbour 2005, pp.744). First, the patients may feel like they are being forced to participate hence end up being part of a research they want nothing to do with. Secondly, the patients not being able to discuss their engagement in the research project with others (Gallagher, Waterman, Ebers, Fraser, Levinson2003, pp.1001). Also, the patients are not given time to decide if they want to take part or not. When the research process takes place during the patient's consultation hours the doctor's focus may be diverted to the interviewer other than attending to the patient. For the doctors, they may feel like they are compelled to participate if the research project has been authorized from above. In a case where people with disabilities are involved, the researcher might tend to be biased and give them special treatment because of their condition. The participant might end up feeling isolated when he/she wants to feel normal and accepted by the society (Lennox, Taylor, Rey?Conde, Bain, Purdie, Boyle 2005, pp.297). In culturally sensitive areas, the researcher might fail to observe basic things termed as important to the society such as the way he/she speaks to the members of the opposite gender. Relationship between Ethical Implications and the Ethical Form From the ethical difficulties above, there might be a conflict of interest if the doctors participate in the research process during working hours (Part C, Item 7) therefore neglecting the patients (Gallagher et al 2003, pp.1002). The doctors may also feel undermined having to take part in a process that also includes their patients (Part C, Item 12). Due to the diversity of the participants, issues of language barrier may arise (Part C, Item 14) especially if the issue of translation is not properly addressed (Roter, Hall 2006, pp.47). There might be problems when the consent process is not thoroughly done and the participants feel like they were forced into taking part (Part C, Item 10) especially if there are incentives being offered (Part C, Item 11). In addition, where most of the participants are given incentives as a motivation to participate, the budget might go higher than estimated and the available resources, in the end, fail to sustain the entire project (Part C, Item 6) . There might be risks involved (Part C, Item 4) when people of a particular society feel like the researcher fails to acknowledge their cultural beliefs may be in the way he/she conducts himself or herself, they might display antisocial behavior towards the researcher. Conclusion The problem of language barrier has been a challenge for the Royal Perth Hospital but with the advancement in technology, it will soon be forgotten. Also, with the use of software technology in translation, more clinics will be opened in the future thereby easing the workload at this Perth Hospital. For the patients who are not very good in speaking and hearing the English language, the professional interpreters have been of great aid to them. The professional interpreters services, however, need to be utilized efficiently to cut down on the cost of healthcare provided. In discovering ways to improve communication, researchers need to put the ethical implications into consideration at the same time using methods that are pocket-friendly. The involvement of diverse groups of people in a research project means more ethnic consideration and the higher the chances of a language barrier. The results achieved, however, are more accurate unlike when small focus groups are used. Bibliography Barbour, R.S., 2005. Making sense of focus groups. Medical education, 39(7), pp.742-750. Bender, D. and Sartipi, K., 2013, June. HL7 FHIR: An Agile and RESTful approach to healthcare information exchange. In Computer-Based Medical Systems (CBMS), 2013 IEEE 26th International Symposium on (pp. 326-331). IEEE. Gallagher, T.H., Waterman, A.D., Ebers, A.G., Fraser, V.J. and Levinson, W., 2003. Patients' and physicians' attitudes regarding the disclosure of medical errors. Jama, 289(8), pp.1001-1007. Ha, J.F. and Longnecker, N., 2010. Doctor-patient communication: a review. The Ochsner Journal, 10(1), pp.38-43. Heath, C.H., Orrell, C.T., Lee, R.C., Pearman, J.W., McCullough, C. and Christiansen, K.J., 2003. A review of the Royal Perth Hospital Bali experience: an infection control perspective. Australian Infection Control, 8(2), pp.43485054-4652. Hudelson, P., 2005. Improving patientprovider communication: insights from interpreters. Family Practice, 22(3), pp.311-316. Lee, J., 2007. Telephone interpretingseen from the interpreters perspective. Interpreting, 9(2), pp.231-252. Lennox, N., Taylor, M., Rey?Conde, T., Bain, C., Purdie, D.M. and Boyle, F., 2005. Beating the barriers: recruitment of people with intellectual disability to participate in research. Journal of Intellectual Disability Research, 49(4), pp.296-305. Prgomet, M., Georgiou, A. and Westbrook, J.I., 2009. The impact of mobile handheld technology on hospital physicians' work practices and patient care: a systematic review. Journal of the American Medical Informatics Association, 16(6), pp.792-801. Roter, D. and Hall, J.A., 2006. Doctors talking with patients/patients talking with doctors: improving communication in medical visits. Greenwood Publishing Group.

Violence. Mentioning the word conjures up images o Essay Example For Students

Violence. Mentioning the word conjures up images o Essay f assault, abuse, and even murder. In todays American society, violence is more prevalent now then ever. Annually, we see violence statistics rise and are left to wonder why. Each year 1 person out of every 40 is the victim of a violent crime. Everyone wants to find an answer a problem that is in great need of solving. But where do we look to find the answers? What causes people to behave in a violent fashion? There are several factors that will cause people to act violently. Maybe if we explore the reasons for the behavior, and address these issues, we will win our battle with violence. We will write a custom essay on Violence. Mentioning the word conjures up images o specifically for you for only $16.38 $13.9/page Order now Drug and alcohol abuse in this country has always been around, but recently numbers are hitting all time highs. From 1992 to 1995, drug use among teenagers almost doubled. Drugs and alcohol are both mind altering agents which cause people to do things that they would not normally do or intensify the emotions that they feel. I believe that many violent acts are due to people being under the influence of some type of narcotic or alcohol. In a survey conducted in the University of Tennessee for the Department of Health, the effects of drug abuse on violence were studied. It was found that almost 56% of drinkers also used drugs while drinking. Interestingly, white males were found to be more abusive than black males. The study showed direct links from substance abuse to violence and crime. With drug use and violence rising, a direct correlation can be seen. Our society has created drug awareness programs in our schools, but obviously something must be changed in these programs. They simply are not working. The highest drug abuse numbers are seen in the teen years age group. We must find a way to lower these numbers and reduce the number of drug users, especially children. When we have successfully done this, I think the rate of violence will also drop. Violent tendencies can get their starts early in ones life. The way a person was raised and the type of behavior they were exposed to has an impact on their behavior as young adults and adults. A child who sees violence towards a family member or is treated violently may grow to think that this behavior is normal and accepted in our society. In a study done in 1987 on children, ages 4 to 11, staying in a domestic abuse shelter, it was found that these children had higher levels of aggression than children who were not vi ctims or witnesses. The girls with the highest levels of aggression were school aged, while the boys were pre-school aged. Children 12 and over were not allowed into the shelter because of the behavioral patterns they had learned at home. This shows how violence can also be a learned action. Children who have been exposed to violence during their childhood are also more likely to have emotional problems later on in life. In a 1992 study, it was found that boys who have been exposed have 17 times more behavior and mental problems, while girls who have been exposed have 10 times more. These behavior and emotional problems can potentially lead to violence later on in life. I think to combat this problem we need to teach women, or men, as the case may be to educate themselves on the signs of domestic abuse. I think children should also be educated on it at an early age so that they too can pick out warning signs, and can talk to someone that they trust should they feel threatened. We mu st help children who are victims through counseling programs so that they learn violence is wrong before they are influenced by the examples set forth at home. Counseling should also be provided so that the child also has a chance to talk about the situation and his or her feelings. One of the biggest reasons that I believe violence occurs is ignorance. Violence in the domestic area is not so much affected by this, but senseless, random acts of crime are. In todays society, many people are ignorant. They are ignorant to ideas that they dont know about, people with different lifestyles, and people of different ethnic backgrounds, for example. .udd20e3c87cd467b4d098b565d1decdd0 , .udd20e3c87cd467b4d098b565d1decdd0 .postImageUrl , .udd20e3c87cd467b4d098b565d1decdd0 .centered-text-area { min-height: 80px; position: relative; } .udd20e3c87cd467b4d098b565d1decdd0 , .udd20e3c87cd467b4d098b565d1decdd0:hover , .udd20e3c87cd467b4d098b565d1decdd0:visited , .udd20e3c87cd467b4d098b565d1decdd0:active { border:0!important; } .udd20e3c87cd467b4d098b565d1decdd0 .clearfix:after { content: ""; display: table; clear: both; } .udd20e3c87cd467b4d098b565d1decdd0 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .udd20e3c87cd467b4d098b565d1decdd0:active , .udd20e3c87cd467b4d098b565d1decdd0:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .udd20e3c87cd467b4d098b565d1decdd0 .centered-text-area { width: 100%; position: relative ; } .udd20e3c87cd467b4d098b565d1decdd0 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .udd20e3c87cd467b4d098b565d1decdd0 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .udd20e3c87cd467b4d098b565d1decdd0 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .udd20e3c87cd467b4d098b565d1decdd0:hover .ctaButton { background-color: #34495E!important; } .udd20e3c87cd467b4d098b565d1decdd0 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .udd20e3c87cd467b4d098b565d1decdd0 .udd20e3c87cd467b4d098b565d1decdd0-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .udd20e3c87cd467b4d098b565d1decdd0:after { content: ""; display: block; clear: both; } READ: The Road Not Taken EssayAcceptance of others has always been a problem that our culture has faced. Many have died for the right to be accepted, and many have been killed because they werent. In America, through the 60s we saw a revolution in rights for African Americans. It was the age of Martin Luther King, Malcolm X, and race riots. Some, who were peaceful, like Martin Luther King, were cold bloodily murdered because someone did not agree with his ideas. Race riots broke out all across the United States, resulting in much violence. Many were ignorant to the feelings and lifestyle that the blacks were forced to lead. This ignorance lead to crime. In abortion clinics, doctors have been killed and patients attacked by pro-life activists. What the activists dont realize is that they do not have any right to make any decisions for anyone but th

Self Realization in Native Son

Self Realization in Native Son Native SonToday we live in a nation, which has abolished slavery, but the gap between whites and blacks that existed during the early stages of America's development has plainly carried into the present. In Native Son, author Richard Wright illustrates this racial gap, in addition to demonstrating how immoral white oppression of blacks is capable of producing vengeful individuals. Bigger Thomas is one of those individuals, who discovers his capacity to rebel through acts of murder against the white society, which has long oppressed his family, friends, and himself. By tracing Bigger's psyche from before the murder of Mary Dalton, into the third book of the novel, and into the subconscious depths of the final scene, the development of Bigger's self realization becomes evident.An entire period of Bigger's life, up until the murder of Mary Dalton, portrays him under a form of slavery, where the white society governs his state of being.Native SonMr. Dalton gives Bigger a job, trying to b e considerate, but his intentions just contribute to the way Bigger views the white society already. Mr. Dalton hires Bigger to be his families' chauffer and to clean out their furnace, which are very degrading jobs for a black person wanting to be treated equal. While he works for the Daltons, "his courage to live depended upon how successfully his fear was hidden from his consciousness" (44), and hate also builds on top of this fear. Bigger murders Mary Dalton accidentally by suffocating her, but later justifies his behavior by saying that she is the reason for his fears and revulsion. The unintentional murder of Mary begins to turn purposeful, because to Bigger, Mary symbolizes white oppression. In addition, he committed the act, because "it had made him feel free for the first time in his life"...

Indefinite Articles When to Use An Instead of A - Proofeds Writing Tips

Indefinite Articles When to Use An Instead of A - Proofeds Writing Tips Indefinite Articles: When to Use An Instead of A The problem with the English language is that it rarely sticks to its own rules. This can be confusing when it comes to ensuring high grammatical standards. The indefinite article, for example, can be either â€Å"a† or â€Å"an† depending on the situation. And while this is probably a word you use on a daily basis without even thinking about it, it is still one that many people find confusing. Why Are There Two Versions of This Word? There are two versions of the indefinite article in English because it is easier to pronounce â€Å"an† than â€Å"a† when it comes before a word beginning with a vowel. Using â€Å"an† separates the article from the following noun, so â€Å"an office† is correct but â€Å"a office† would sound wrong to most people. The general rule is to use â€Å"an† before words beginning with vowels and â€Å"a† before words beginning in consonants. But, as with most rules, there are exceptions to this, which is where things get tricky. Hard Vowels One important exception is words beginning with hard vowels. This includes any word that starts with a vowel but sounds like it doesn’t, such as â€Å"university† or â€Å"Europe.† Although these words start with â€Å"u† and â€Å"Eu† respectively, they are pronounced with a â€Å"you-† sound at the beginning. For instance, it is â€Å"you-niversity† rather than â€Å"oo-niversity.† In cases like this the word should be preceded with â€Å"a† rather than â€Å"an,† as in the following example: The koala lived in a eucalyptus tree Correct The koala lived in an eucalyptus tree Incorrect Soft Consonants Another issue that many find confusing is whether to use â€Å"an† before words starting with â€Å"h.† This is, in fact, much simpler to resolve in American English than in other English speaking countries, where words like â€Å"historical† and â€Å"heroic† are sometimes pronounced with a silent â€Å"h.† In Britain, for example, you might meet people who write â€Å"an hotel† rather than â€Å"a hotel.† But in the US this is very rare. If in doubt, the key again lies in the pronunciation. Do you pronounce the â€Å"h† at the start of the word? If so use â€Å"a†; if not use â€Å"an.† For example: There was a house on a hill Correct There was an house on an hill Incorrect Basil is an herb commonly used in Italian cuisine Correct Basil is a herb commonly used in Italian cuisine Incorrect In summary, if you’re ever confused about whether to use â€Å"a† or â€Å"an† in your writing, try reading it out loud; if it starts with a consonant sound, use â€Å"a,† while words which start with a vowel sound need â€Å"an.† And if ever you see a horned horse flying a rotary aircraft, remember that it’s â€Å"a unicorn piloting a helicopter† and not â€Å"an unicorn piloting an helicopter.† You’ll find more helpful grammar tips on our academic blog, while if you’d like to have your work checked by one of our expert proofreaders here at Proofed we offer a variety of services to meet your specific requirements.

Workplace policies and practices. DreamWorks Animation Essay

Workplace policies and practices. DreamWorks Animation - Essay Example This paper considers six policies and practices which contribute to the high level of employee engagement that exists in the company: commitment to the highest quality, diversity in recruitment, coaching and mentorship, a relaxed and â€Å"fun environment to stimulate creativity, and flexible teamwork. DreamWorks Animation is company that many creative people aspire to work for, and perhaps the most attractive feature about this organization is that it is simply the best in the industry. This high quality image brings a sense of pride to all of its employees but it also brings with it extremely high expectations in times of quality of work and adherence to tight deadlines. The company attracts the brightest and best employees because of its profile as a leading and innovative animated movie producer and so long as it maintains this position it will make them want to stay and achieve even more success. The company webpages show also a real commitment to diversity in the workforce, si nce the faces of leading employees are male and female, and different in terms of age and ethnic origins also. It is a young company with an international flavour. This diversity is useful to the company because it matches the global audiences for the company products, but there is also evidence this mix encourages innovative thinking and exchange of ideas. The different social and cultural backgrounds of the staff make for a stimulating and rich working environment. The company’s philosophy makes a big statement about this point, and it is clearly one of the company’s overarching and strategic aims to have unity in diversity: â€Å"In this friendly, open and collaborative environment, people of globally diverse talent and backgrounds push creative boundaries and enjoy an easy camaraderie. We attract a globally diverse group of artists, technologists, production and support staff who come together†¦Ã¢â‚¬  (DreamWorks Website). This commitment to be inclusive mea ns that the prevailing atmosphere is open and all staff are able to participate freely in company activities without fear of prejudice or inequality. Mutual respect marks the ethical tone of the company and this in turn leads to a more committed and contented workforce. Employee engagement begins at the point where people are recruited into the company. Vacancies are advertised on the company webpage, and of course the company requires very specific and certified skills in most of its employee roles. Experience is also needed in this industry, along with new ideas that are current in the youth cultures of the present time. Locating the right mix of talent and experience is difficult in animation, and DreamWorks takes a long term view of this task. It is commendable to note that there are outreach efforts in colleges and universities to draw in talent from all parts of society, including state as well as private educational institutions. In 2005, for example, the company started off an Outreach program to attract graduates who had no experience in the industry, but could demonstrate talent in their university work: â€Å"the goal of this program was to seed the next generation of creative and technical leadership at the Studio, and also to offset the rapidly rising salary rates for experienced talent.† (Newspeak.com case study, 2011) Some such ventures are little more than public relations stunts, but the company reports that 165 entry level graduates were hired, and 93% were retained, and 8 individuals were considered â€Å"

Brands and branding Essay Example | Topics and Well Written Essays - 2500 words

Brands and branding - Essay Example According to Burberry, the founder of the company he said that the company was established to help the young people realize their dreams through innovation and engage in creativity thus making life bearable to them. Marketing strategies used by Burberry The marketing strategies of the company are focused at providing provide value to the customers through the products and the type of information concerning the products that are in the market. Retail marketing Retail marketing has been commonly used by the company. As one of marketing strategies, it has the capability to make the company to be more competitive in the market. The core importance of using retail marketing plan is to make sure that the sales ratio of the company increases on the international front making the company to invest a lot in other marketing strategies (Clancy and Kriegafsd, 2000). When using retail marketing, the brand is recognized and established to the market thus having a trademark that the brands are wide ly known for. Due to use of retailing marketing, the company is also able to venture in foreign countries like China where the company has retail shops thus making great venture to the fashion brands that are in the industry. The only challenge that face the company when using the retail marketing are cheaper brands that are offered by the competitors. Customer awareness Burberry enjoys strong customer awareness, since the company brands in the past were favorite brands to Queen Elizabeth two and the Prince of Wales. Additionally, through the use of extensive advertisement, Burberry brands are used by many people and are given respect worldwide due to royal families’ involvement with the products. Objective as a marketing strategy in Burberry The primary aim of the company is to make sure that the brands are represented visually to target the customers hence making sure that the customers are satisfied and their ideas are listened to and again implemented, according to their wish (Philip, 2006). The customers are encouraged to be creative and if any one of them has an idea to come up with a brand that is unique in the market he or she is given the attention. This is based on the fact that the company was founded to make use of innovation and use of modern technology (Philip and Kevin, 2006). Social media The company uses Facebook and Twitter and the management post their new brand and others to social media as a method of advertising to make sure that it effectively competes with rivals. The company introduced the use of YouTube and launched films to promote the brands (Joshi 2005). The company still opens discussion forum which are used by the customers to make sure that their views and ideas are listened to and later implemented. Market segments in Burberry Market segmentation for Burberry is divided according to characteristic and personality aspects. For example, for the consumers who are 18-30 years old they have a certain brand of Burberry which t hey use as their product of choice. The second market segment is secondary age group that includes 30-40 years old. This category has certain brands of their choice that have unique characteristics that make them to be accepted by the secondary age group (Lenskold 2003). The third market segmentation is the families with high income and this gives them opportunity to buy expensive brands. The last market segment is for student and working individuals

The Ethics of Torture Essay Example for Free

The Ethics of Torture Essay Torture is causing pain and suffering to gain information and confessions. It’s a traditional, historical, well-understood term. Waterboarding is a form of torture in which a bound, gagged prisoner is forced to breathe in water. There are several techniques but all produce the same effects, a physical sensation of drowning and a psychological sensation of panic, fear and loss of control. Calling it anything other than torture is absurd. You wouldn’t call a bank robbery a â€Å"cash gathering technique,† even if the president said it was so. There are no such things as â€Å"enhanced interrogation methods. † That is the euphemism the Bush administration used in 2002 when they were redefining torture so the president could authorize it. There is never an excuse to torture a person, not even during war. It undermines our cause, endangers our soldiers on the battlefield by encouraging reciprocity, and it breeds more enemies of the United States than coercive interrogation methods will ever allow us to capture. As recently as November 12th of this year, Herman Cain and Rep. Michele Bachmann said during a Republican presidential debate in South Carolina that they would approve waterboarding of prisoners to extract information. They denied that waterboarding is torture, even though it’s been classified as such since the Spanish Inquisition. â€Å"Very disappointed by statements at S. C. GOP debate supporting waterboarding,† Senator John McCain wrote on Twitter two days later. â€Å"Waterboarding is torture. † This is a man who was a POW during the Vietnam War. Having been tortured at the hands of the North Vietnamese, he knows first-hand what that kind of treatment can do to a human being. If we truly believe ourselves to be a model for the world and an example for all of history, then why would we practice torture? When you pour water onto someone until he gasps for air and feels as if he’s drowning, you’re not enhancing your interrogation. You’re putting him through a hell as physical as it is psychological. You’re torturing him, by any sane definition of the term. When we deny any sort of justice or due process to individuals in the name of protecting America, we become the ultimate hypocrites. How can we as a nation, hold other nations to standards that we’re not meeting ourselves? In 2009, Dick Cheney told Fox News that, Those interrogations were involved in the arrest of nearly all the Al Qaeda members that we were able to bring to justice. Cheney’s statement begs the question, how many innocent people were imprisoned and tortured in our fanatical hunt for possible terrorists? Well, out of about 775 detainees held at GITMO, 420 were released without being charged. Less than 10 were ever convicted of terrorist activities. The abuse of prisoners can occasionally produce good intelligence but more often produces bad intelligence, Under torture a person will say anything he thinks his captors want to hear — true or false — if he believes it will relieve his suffering. Often, information provided to stop the torture is deliberately misleading. Senator McCain has said that while being tortured, he was asked for the names of all the men in his regiment. He gave his captors the names of the Green Bay Packers offensive line instead. The most obvious thing we can do is stand as an example of a nation that holds an individual’s human rights as superior to the will of the majority. Write your congressmen and tell them that the sanctioned use of torture by the government is wrong. If we as a nation build a wall of fear with the rest of the world, it’s a decision with far-reaching negative consequences. Through the violence, chaos and heartache of war, through deprivation and cruelty and loss, we are always Americans, and different, stronger and better than those who would destroy us.

Welcome To The Underground :: essays research papers

While America sleeps safely at night, safe and secure in their world there is another world taking place, a more dangerous and wild world. A world going on right beneath their noses. Its taking place in their super markets, in empty whare houses, forgotten buildings, parks, and yes friends even there roller skating rinks. Many will never know hear about this world that usually takes place every Friday and Saturday. For it may be safer to not know, for if one knows one may be tempted to want to experience this world. Experiencing this world has been know to alter many lives. For once going underground theres no turning back, this ladies and gentleman this is the world of the Rave...We walked towards the castle drawn like magnets, already sensing the hum of activity that lay inside. Already overly excited from the many energy drinks we had consumed for â€Å"ultimate performance.† My friend explained to me that a man named John Bishop started building this castle single handily along with some help of his family in 1963 and every year he would add something new. It is nestled in the foothills of Pueblo, Colorado and safe from any civilized towns. As my companions and I drew closer the butterflies in my stomach flapped louder and louder. The moon was shining brightly right over our heads the time about midnight I estimated and still our journey had not begun. There were people frolicking everywhere mostly teenagers, but people of all ages. They were dancing and hugging and running around energetically. Mostly dressed in baggy jeans and trippy outfits I saw one girl wearing a see-through plastic skirt with her underwear showing plainly. Others had on doctors masks, carried glow sticks, and some had pacifiers in their mouth, I didn’t know why. Everyone seemed to now everyone else. Except for me of course I knew no one. I looked at myself, jeans and a T-shirt. â€Å"I don’t think Im dressed right,† I whispered to my friend, a so-called Rave expert. â€Å"Don’t worry man nobodies going to care,† he replied. We were now nearing the entrance to the castle, each grabbing our tickets tightly holding them as if they were the golden ticket in Willy Wonka. I handed my ticket to the door man, got a half hearted pat down by the security guard and stepped into the world of the rave.My first thought was, â€Å"What did I get myself into!† People were moving everywhere at a high speed pace flying around like bee’s in a hive.

Newton Lab Report

I. Introduction: The purpose of this lab report is to differentiate between of Newton’s Third Law and Newton’s Second Law. Newton’s Third Law states that all forces come in pairs and that the two forces in a pair act on different objects and are equal in strength and opposite in direction. Newton’s Second Law states that the acceleration of an object is proportional to the net force and inversely proportional to the mass of the object being accelerated. Using calculation equations for acceleration, force, and percent error one will be able to distinguish and evaluate the relationship between the two laws. II. Procedures of experiment: All groups had to complete two types of labs. The first lab our group had to complete was completed like so: using a car one had to tie a piece of string approximately 80 centimeters in length to a toy car on a ramp. This string was then feed one top of a super frictionless wheel. The end of the rope that had the end nearest to the ground was tied off with a 0. 2kilogram weight. The car was then pulled back by a participant until it reached 0. 8 meters and was let go. A second participant would then record the time it took for the car to reach the end of the ramp. This was repeated a few times. One would add 0. 5 kilogram weight to the car and the time was then recorded in a similar fashion. These times would be recorded into a table and would be used as raw data. The second part of the lab was different in that: a group had to tie a small scale to opposite end of the rope where the weight was located. Immediately following that scale, one would then tie a toy car. After the toy car another scale would be attached; likewise another car would follow. One student would then pull the whole system back before the back end of the second car would touch the wall provided by the ramp. Immediately after that student would release the system he and a second student would read the scales. Essentially, one student would have to read one scale and the other releasing would have to read one too. These force readings would be recorded in a table and would be used as raw data too. III. Summary of data: Each group had to determine the mass of each car before beginning each lab. Our group had found that both of our cars were 0. 261 kilograms. Additionally, group had to record the trail times for the first lab report like the following. | Car times (s)| Car times (s) +500g| trail 1| 0. 79| 1. 39| trail 2| 1. 0| 1. 40| trail 3| 1. 06| 1. 56| trail 4| 0. 82| 1. 58| trail 5| 0. 98| 1. 69| average| 0. 93| 1. 49| | | | | Force on System 1 (Newtons)| Force on System 2 (Newtons)| trail 1| 0. 50| 1. 50| trail 2| 0. 45| 1. 50| trail 3| 0. 50| 1. 50| trail 4| 0. 49| 1. 40| Each group had to read and record the force measurements in Newtons with the two car pulley system. Additionally, our group had used the same mass for the cars from the previous lab: 0. 261 kilograms. The magnitudes of the cars are relatively constant. IV. Analysis of Data: Before calculating many equations, one had to understand Newton’s Third Law. The calculations for the second part of the lab would have been nearly impossible unless one understood that FT= -Fg=F1+F2. With this in mind, it was possible to ascertain that understand thatF2=-F1+Fg. Knowing this, one would be able to understand that the acceleration on the system is the same throughout. Also, it is extremely important that one must correctly change units into for the needed equations. Otherwise, almost all of the equations will be void. mass of the car | acceleration of car (m/s2)| F=(m1+m2)a (Newtons)| Fnet= (m2)(9. 80m/s2) (Newtons)| Percent error/difference| 0. 261kg (x1 car)| 1. 84999| 0. 57534689| 0. 49| 17. 177| 0. 763kg (x1 car + 500g)| 0. 720688| 1. 50404187| 1. 47| 2. 3157734| This is the first table representing the acceleration of the car, the force of the car as well as the percent error. The percent error for this particular section of the lab seems relatively low. One should see that the acceleration of the second car is significantly slower than th e first car; this is because car one weighted les s than the second. It should also be seen that the force of the car with the extra mass is nearly three times that of the car without the extra mass. mass of the car | acceleration of car (m/s2)| F=(m1+m2)a (Newtons)| Fnet= (m2)(9. 0m/s2) (Newtons)| Percent error/difference| 0. 261kg (red car)| 1. 858237548| 0. 856647509| 1. 96| 56. 2934| 0. 261 kg (blue car)| 1. 858237548| 0. 856647509| 1. 96| 56. 2934| This is the second table representing the acceleration, force, and percent error of both of the cars tied together. The percent error for this particular section of the lab seems relatively high. One should see that the acceleration and forces are exactly indistinguishable. This is because they are tied together forcing the cars and scales to have the same acceleration and force etc; moreover, it is because of Newton’s Third Law. Additionally here are some sample equations I utilized during the lab report and calculations. Manipulating some of the equations was tricky especially for percent error. Substituting the accepted value with an equation is very smart thinking. percent error=(m2(9. 80m/s2))-experimental value(m2(9. 80m/s2)) (100) 56. 2934944%=1. 96-(0. 856647509)(1. 96) (100) ForceMass=acceleration 0. 485N0. 261kg=1. 858237548 m/s2 Distance= 12(acceleration)(time in seconds)2 2(Distance)(t)2= acceleration 2(. 8)(0. 93)2= 1. 849924847m/s2 V. Conclusion: There are several errors that could have occurred during this lab. One of them might have been that I could have corrupted my calculations. I am not to entirely sure with how I calculated my percent error and therefore I might have a lower percent error yet I would not even know it or vise versa. A way to correct this problem for the future is by asking for more assistance from others in the class. I am more than sure that others who grasp the concept easier than me would be more than willing to aid me. Another error that could have occurred was that of miss reading the scales for the force in the second lab. Although important to read the scales as accurately and as quickly as possible, one could only do so much. There was only less than a split second to read the correct or desired reading from the scale. One way to correct this error in the future is to have a larger group work on the same lab. Therefore all the students in the group could work together to figure out a solution as a team rather than an individual effort. The group would learn better as a result because there would be hands to complete the work and more brains to understand that work that is being recorded. All thought the margin of error was higher for this lab, it is understandable because it was nearly impossible to record the force of Newtons desired in the split seconds one had. With all the information above, it is clear that there is a tie between Newton’s Third Law and his Second Law. It is possible to understand that Newton’s Second Law deals with changes in state of motion while Newton’s Third Law deals with the relation between forces On my honor, I have neither given nor received unauthorized aid on this assignment.

Innocence of Liesel Meminger Essay

Innocence is something that all of us know and relish. It is something sweet and peaceful that we all deem precious. In the novel ‘The Book Thief’, one little girl possesses this trait, in a very surprisingly place. In the heart of Nazi Germany, Liesel Meminger’s innocence is easily distinguished. In the story, Liesel Meminger is forced to adapt to a new family and environment due to her past traumatic experiences. Throughout part one of the book, Liesel shows her juvenility on numerous occasions shown by her interactions with others, in what she says, and through her attitudes. Rosa Hubermann was walking around their neighborhood to show Liesel her job, collecting clothes from the wealthy to iron. Upon arrival at a house, Rosa Hubermann told Liesel, â€Å"‘You go.’ Liesel was horrified. A giant brown door with a brass knocker stood atop a small flight of steps. ‘What?’ Mama shoved her ‘Don’t you ‘What’ me, saumensch. Move it.’† (The Book Thief, Hardcover Pg.42) This shows that Liesel is juvenile because she is terrified at her mama’s orders even though the job is simply to collect clothing. Also, she was in such disbelief at her mama’s decision when she was forced to retrieve the clothing because she never thought her new mama would put her in a position to bring her tremendous discomfort. Liesel is performing her usual routine, cleaning the spat saliva off the front porch from the mouth of Frau Holtzapfel. â€Å"†¦once in a while some stars had the nerve to rise and float, if only for a few minutes. On those nights, she would stay a little longer and wait. ‘Hello, stars.’† (The Book Thief, Hardcover Pg.45) Due to Liesel’s young imagination, she takes the time to converse with the stars. Any adult would not even regard the stars let alone talk to them because they have lost the innocence found in childhood, but Liesel is different and takes the time to do such things. Still in disbelief of her brother’s recent death, she is on her knees at her brother’s icy cold grave, digging in denial. â€Å"Somewhere in all the snow, she could see her broken heart, in two pieces.† (The Book Thief Hardcover Pg.24) This shows how Liesel is innocent because when all she loves is seized in that graveyard she is lost and does not know what to do. It was the cold graveyard, the thought of her mom leaving her forever in the midst of her younger brother’s death that overwhelmed Liesel to a broken heart. The Book Thief by Markus Zusak is important to read because it reveals something special in an very unexpected place. Germans who lived in Nazi Germany are still to this day commonly stereotyped as being ruthless and hate filled. Liesel has given a previously unseen perspective of these times, a look through the eyes of an innocent child that knows nothing of bitter hatred and antagonism. This is all easily perceived through her interactions with other characters , her own dialogue, and attitudes.

Parallel Journeys essays

Parallel Journeys essays Often reading the blurb on the back cover of a novel is a good indication of whether or not you will enjoy the book. This is very much the case when I picked up Parallel Journeys by Eleanor Ayer. The front cover features Adolf Hitler with thousands of his young supporters hailing him during World War Two. Books about the war usually depress me so usually I wouldnt read them, but this book appealed to me because of the faces of two teenagers on the front cover. The lead me to read the back cover which simply said- He was an ardent member of the Hitler Youth. This is their story of their parallel journey through World War II. What a great idea for a book! To compare two people who had completely different experiences of the war and to let them tell their stories side by side. When I first started reading this book I noticed how different it was to some of the other novels I have read. Firstly, it is very chilling to realize that while this is in the form of a novel, it is also non-fiction. It isnt based on a true story, it is a true story. The Second World War took the lives of fifteen million soldiers around the world, thirty nine million civilians and 12 million Jewish people. These figures shock me when I remember that the population of Australia today is around 20 million, so this means that over three times the population of Australia died in this sad period from 1939-1945. The First chapter of the book introduces us to Alfons Heck, a young German boy who grew up in the Rhineland region of Germany. Alfons never knew a Germany without Nazis. In schools they were taught by Nazis and never did they question what they were taught. Alfons was taught to hate Jewish people, communists, gypsies, and Jehovahs witnesses. He was also taught that his own race were to one day rule the world. When you are a child you learn from what adults are teaching you, so if they are teaching you to hate o...

Analysis of India

This is a 8-page paper that analyzes the business climate of India with relations to neighboring countries. As the title says, this essay is a very factual and informative summary of a large list of national statistics. It covers population, religion, trade, politics, labor force, transport and even which fish they catch. It covers some modern internal/external political history and international trade history. A very useful essay for anyone wishing to learn about India especially regarding trade.From the Paper: Situated in the South East Asia bordering with the Arabian Sea and Bay of Bengal, the country India is a country that is linked with Burma, Pakistan and Bangladesh. Belonging to one of the oldest civilizations the Indus Civilizations, its historical setting could be traced up to 5000 years. India has also been subject to a series of conquests like the invasion of Aryans, the Dutch, Portuguese, Turkish and Arabs. They were also subjected to a series of political strife when the country was endeavoring for its independence in the 20th century. Today it has a federal republic government established on 15th August, the country has a President as the head of state, while the head of the government is the Prime Minister. The legal system is ruled by a cabinet of council of ministers who are appointed by the president at the recommendation of the Prime Minister.

Wilkins.A Zurn company about DEMAN FORECASTING Case Study

Wilkins.A Zurn company about DEMAN FORECASTING - Case Study Example the cyclical nature of US commercial and industrial construction market that affect the revenues generated, the company has experienced sales growth that exceeds the industry. Their positive growth is due to their favorable pricing strategies, product innovations and targeted marketing programs. The current demand forecasting process of the company includes a forecast master and a planning bill. The forecast master is a spreadsheet that lists the average weekly sales history for each product family by quarter and year since 1999. For each product family, the total quarter’s actual sales are divided by 13 weeks per quarter to determine the average weekly sales per quarter. The expected demand for the next five or six quarters is then estimated for the quarters. Each product family had its own planning bill. It contains the sales history for each product within the family. It calculates the average number of units sold within that product family each day within each quarter. It also contains projection on the average daily sales for that family that will sell in the next 12 months. Furthermore, the planning bill disaggregates the family forecast into each product based on the per cent of sales of the product family. Lastly, the planning bill calculates the annual sales forecast for each product within the family. The current forecasting performance utilized by the company is inaccurate. According to sales records, there are variances in the forecasted sales value with respect to the actual sales of the company. This paper will center on the utilization of statistical forecasting methods in order to improve the performance of the business. The current method of forecasting that is utilized by the company does not take into account the seasonality of the sales generated. The forecast is based on the forecast master and the planning bill of each product family. The method of using two forecasting tools to estimate future demand is applicable to the

(Analytical Essay) on the field of International Relations Essay

(Analytical ) on the field of International Relations - Essay Example More specifically, the essay shall highlight on the other alternatives that are existent in an endeavor to maximize the states’ security. The essay shall also shed light on the case of Iran and the alternatives of development of regional hegemony among the members, accessing wealth and achieving nuclear superiority, as factors that would reduce chances of war attempts in the name of securing peace and security. One of the aspects that can allow for peace and security among states relate to development of regional hegemony among the members. According to Richard & Michael, (pp.71), regional hegemony refers to maximizing security in the states so as to avoid a situation whereby the state would be attacked by another. Though analysts hold the view attaining hegemony is almost impossible especially security along the water bodies, a lot of countries have attempted a move to establish hegemony, despite their having minimal resources for the same. This means that all countries always have the hope that they may achieve security through attaining domination over other countries in the region. This can be proven from the example of U.S.A. that has managed to maintain its security through attaining regional hegemony. If this happens, then there is a great likelihood that the fewer cases of war will be witnessed in the globe. In the case of Iran for instance, this country has been seen with a keen interest in the issue of acquisition of nuclear weapons, so as to achieve hegemony in the Persian Gulf and the entire Middle East region. This has been part of the country’s aspiration of for a long time especially under the leadership of Shah. With the country gaining regional superpower, it would automatically gain supremacy, especially having neighbors of the like of India, Israel, and Pakistan amongst others. It is evident that being the center of the regional hegemony, the country would be spared from war scares. On another point of view, accessing wealth is

Compare-Contrast Paper on Ancient Egyptian Arts and Ancient Greek Arts Research

Compare-Contrast on Ancient Egyptian Arts and Ancient Greek Arts - Research Paper Example The ancient Egyptians could have been very concerned on how the characters will be portrayed. The carefulness in drawing the characters involved is very notable. Verily, the stiffness nature of the characters portrayed could make a person say that the characters are just representations and not true. One could not entertain the idea that the characters were drawn or painted in an actual setting. Nevertheless, the ancient Egyptian arts are very attractive. Actually, the stiffness character of ancient Egyptian arts is associated to the beliefs and practices of Egypt’s primitive society. In the past, Egyptians gave importance to the exact portrayal of nature and actual life (â€Å"Art†). Exactness was actually viewed by them in terms of being able to draw the identifying features of the subject’s physical appearance. In such case, it is to be expected that in ancient Egyptian arts, the realistic appearance of an object is not given much attention. With regard to anc ient Greek arts, one could notice the realistic portrayal of the objects and characters involved (Hill; Newby, qtd. in Bispham et al. 49). Every detail of the objects and characters are seriously attended. For instance, in ancient Greek painting involving humans, one could see the lively and natural portrayal of human bodies (Pynt and Higgs 56).

Importance Of Capital Structure To A Firm Finance Essay

Importance Of Capital Structure To A Firm Finance Essay Capital Structure of a company refers to the composition or make-up of its capitalization and it includes all long-term capital resources, viz. Loans, reserves, shares and bonds,-Gestenberg Introduction Capital Structure is one of the most complex areas of financial decision making because of its interrelationship with other financial decision variables. Poor capital structure decisions can result in high cost of capital thereby lowering the Net Present Values of projects and making more of them unacceptable. Effective capital structure decision can lower the cost of capital , thereby increasing the value of the firm. It is particularly important for small business owners to determine a target capital structure for their firms, since capital is expensive for such small businesses. Capital structure decisions require considering a variety of factors. In general, companies use debt more when they have steady, constant sales levels, assets that have good returns for loans and a high growth rate . On the other hand, companies that have poor credit ratings, conservative management, or high profitability rely on equity capital instead. Capital Structure Capital structure is a business finance term that describes the proportion of a companys capital, or operating money, which is obtained through debt and equity or  hybrid securities [1]. Debt consists of loans and other types of credit that is to be repaid in the future, usually with interest. Equity involves ownership  interest in a corporation in the  form  of common stock or preferred stock. Equity financing does not involve a direct obligation to repay the funds which is in contrast to debt financing,. Instead, equity investors are able to exercise some degree of control over the company as they become part-owners and partners in the business. The goal of a companys capital structure decision is to maximize the gains for the equity shareholders. The optimal capital structure is the one that maximizes the price of the stock and simultaneously minimizes the cost of capital thus striking a balance between risk and return. [2] A firms major decision is its financial decisions which can be analyzed in the theory of Corporate Capital Structure that is based on a model developed by Dodd(1986) and is determined mainly by cost variables- equity, debt and bankruptcy risk and other potential variables such as growth are, profitability and operating leverage. The primary advantage of debt financing is that it allows the founders to retain ownership and control of the company. Equity investors claim does not end until their stock is sold as compared to debt obligations which are limited to the loan repayment period, after which the lender has no further claim on the business. Debt financing tends to be less expensive for small businesses over the long term, though more expensive over the short term, than equity financing. The major disadvantage is that it requires a small business to make regular monthly payments of principal and interest. Due to such regular payments, young companies often experience shortages in cash flow. Debt financings availability is often limited to established businesses which is a disadvantage associated with it. Since lenders primarily seek security for their funds, it can be difficult for unproven businesses to obtain loans. The main advantage of equity financing for small businesses is that there is no obligation to repay the money. The investors in equity financing often prove to be good sources of advice and contacts for small business owners. The main disadvantage of equity financing is that the founders must give up some control of the business. Some sales of equity, such as initial public offerings, can be very complex and expensive to administer. Such equity financing may require complicated legal filings and a great deal of paperwork to comply with various regulations. Features of a Capital Structure Capital structure is that level of debt-equity proportion where the market value per-share is maximum and the cost of capital is minimum. It should have the following features: Profitability/Return: Studies have shown that the relationship between debt-equity ratio and a firms profit margin is such that for a firm which prefers to finance its investments through self-finance are more profitable than firms which finance investment through borrowed capital, firms prefer competing with each other than cooperating and firms use their investment in fixed assets as a strategic variable to affect profitability.[3] Solvency/Risk: Capital Structure of a firm indicates how much the company is leveraged by comparing what it owes to creditors and investors to what it owns. It reveals the degree to which the companys management is willing to fund its operations with debt, rather than equity. Lenders are sensitive about this feature as a high debt-equity ratio will put their loans at risk of being unpaid.[4] Flexibility: Flexibility is the ability to make decisions that the firm thinks are most apt even when others disagree. The level of flexibility the management can have depends on how the firm is financed. Debt offers little flexibility relative to equity. However, the flexibility offered by equity depends on the extent to which shareholders are inclined to agree with managements strategic choices. The flexibility benefit of equity is high only when the share price is high.[5] Conservation/Capacity: If a firm starts with a specific business risk, then the total risk associated with stock and debt is not affected by the capital structure. This is called conservation of risk. Risk is neither created nor destroyed.[6] Debt capacity involves the assessment of the amount of debt that the organization can repay in a timely manner without forfeiting its financial viability.[7] Control: The capital structure of a firm shows when control is allocated to only shareholders and when to others like creditors, or the management team. Generally the shareholders get control when the firms cash flow is sensitive. Also , debt value and firm value are negatively correlated when debtholders have veto power[8]   Determinants of Capital Structure Capital structure of a firm is determined by various internal and external factors. The macro variables of the economy are inflation rate, tax policy of government, capital market condition. The characteristics of an individual firm, termed as micro factors (internal), also affect the capital structure of enterprises. This section presents how the micro-factors affect the capital structure of a firm Size of a Firm: There is a positive relation between the capital structure and size of a firm. The larger the firms the more diversified they are. They have easy access to the capital market, receive higher credit ratings for debt issues, and pay lower interest rate on debt capital. Further, larger firms are less prone to bankruptcy and this implies the less probability of bankruptcy and lower bankruptcy costs. Hence, the lower bankruptcy costs, the higher debt level.[9] Growth Rate: There is a contradictory relation between the growth rate and capital structure. The equity controlled firms tend to invest sub-optimally to get wealth from the enterprises bondholders. They are more flexibility in their choice of future investment. Hence, growth rate is negatively related with long-term debt level.[10] Business Risk: There is a negative relation between the capital structure and business risk. Lesser the stability of the earnings of the enterprises, the greater is the chance of business failure and the greater the weight of bankruptcy costs on enterprise financing decisions. Hence, as business risk increases, the debt level in capital structure of the enterprises should decrease.[11] Dividend Payout: There is an adverse relation between the dividend payout ratio and debt level in capital structure. The low dividend payout ratio means increase in the equity base for debt capital and low probability of going into liquidation. As a result of low probability of bankruptcy, the bankruptcy cost is low. This implies high level of debt in the capital structure.[12] Operating Leverage: The use of fixed cost in production process also affects the capital structure. The high operating leverage-use of higher proportion of fixed cost in the total costs over a period of time-can magnify the variability in future earnings. There is a negative relation between operating leverage and debt level in capital structure. The higher operating leverage, the greater the chance of business failure and the greater will be the weight of bankruptcy costs on enterprise financing decisions. Industry Life Cycle: Firms tend to adopt different financing strategies and a specific hierarchy of decision-making as they progress through the phases of their business life cycle. Debt is fundamental to business activities in the early stages, representing the first choice. However, in the maturity stage, firms re-balance their capital structure, substituting debt for internal capital.[13] Degree of Competition: Debt ratios are reduced as the scope of competition falls. For oligopolies, debt ratios show a significant and positive effect on prices.[14] Company Characteristics: Variables of size and growth opportunity in total assets reveal a positive association with the leverage ratio, however, profitability, growth opportunities in plant, property and equipment, non-debt tax shields and tangibility reveal inverse relation with debt level.[15] Forms of Capital Structure Capital Structure can be of various forms: Horizontal capital Structure: The firm has no component of debt in the financial mix. Expansion of the firm is through equity and retained earnings only. Vertical Capital Structures: The base of the structure is a little amount of equity share capital which serves as the foundation for a super structure of preference share capital and debt. Pyramid Shaped Capital Structure: Large proportion consisting of equity capital and retained earnings. Inverted Pyramid shaped Capital Structure: Small component of equity capital, reasonable retained earnings and increasing component of debt. Replacement Modernization Expansion Diversification Capital Structure Decision Desired Debt-Equity Mix Existing Capital Structure Payout Policy Effect on Return Effect on Risk Effect on Cost of Capital Value of Firm Optimum Capital Structure Capital Budgeting Decision Need for Funds Capital Structure Decision Process Internal Funds Debt External Equity DIFFERENT APPROACHES TO CAPITAL STRUCTURE Weighted Average Cost of Capital It is the expected rate of return on the market value of all the firms securities. Anything that increases the value of the firm also minimizes the WACC if operating income is constant. It is a calculation of a firms cost of capital in which each category of capital is proportionately weighted. All capital sources   common stock, preferred stock, bonds and any other long-term debt   are included in a WACC calculation. The WACC equation  is the cost of each capital component  multiplied by its proportional weight and then summing:   WACC = E/V * Re + D/V * Rd * (1- Tc) Where:   Re = cost of equity   Rd = cost of debt   E = market value of the firms equity   D =  market value of the firms debt   V = E + D   E/V = percentage of financing that is equity   D/V = percentage of financing that is debt   Tc =  corporate tax rate   Assumptions There is no income tax, corporate or personal. The firm believes in paying all of its earnings and dividends. A 100% dividend payout ratio is assumed. Investors have identical probability distributions of operating income for each company. The operating income is not expected to grow or decline over time. A firm can change its capital structure instantaneously without incurring transaction costs. rd represents the cost of debt For 100% dividend payout, re represents cost of equity V = D + E. ra is the overall capitalisation rate of the firm. It can also be expressed as: ra = rd[D/(D+E)] + re[E/(D+E)] NET INCOME APPROACH According to NI approach both the cost of debt and the cost of equity are independent of the capital structure; they remain constant regardless of how much debt the firm uses. This means that, the average cost of capital declines and the firm value increases with debt. This happens because when D/E increases, rd which is lower than re, receives a higher weight in the calculation of ra. This approach has no basis in reality; the optimum capital structure would be 100 per cent debt financing under NI approach. This can be illustrated with the help of a numerical. There are 2 firms A and B similar in all aspects except in the degree of leverage employed. Firm A Firm B Operating income(Rs.) 10,000 10,000 Interest on debt(Rs.) 0 3,000 Equity Earnings(Rs.) 10,000 7,000 Cost of equity capital 10% 10% Cost of debt capital 6% 6% Market Value of equity(Rs.) 1,00,000 70,000 Market value of debt(Rs.) 0 50,000 Total value of the firm(Rs.) 1,00,000 1,20,000 The average cost of capital for firm A is 10%. The average cost of capital for firm B is 8.66% NET OPERATING INCOME It is the opposite of NI Approach. According to NOI approach the value of the firm and the overall capitalization rate are independent of the firms capital structure. That is, ra and rd are constant for all degrees of leverage. Now, re = ra + (ra rd)(D/E) The market capitalizes the firm as a whole at a discount rate which is independent of the firms debt-equity ratio. In the absence of taxes, an individual holding all the debt and equity securities will receive the same cash flows regardless of the capital structure and therefore, value of the company is the same. An increase in the use of debt funds which are cheaper is offset by an increase in the equity capitalization rate. This happens because equity investors seek higher compensation as they are exposed to greater risk from increase in the degree of leverage. They increase the capitalization rate re as the leverage increases. Numerically, this can be explained. Two firms A and B are similar in all aspects except the degree of leverage employed by them. Firm A Firm B Operating income(Rs.) 10,000 10,000 Overall capitalization rate 0.15 0.15 Total market value 66.667 66,667 Interest on debt(Rs.) 1,000 3,000 Debt capitalization rate .10 .10 Market Value of debt(Rs.) 10,000 30,000 Market value of equity(Rs.) 56,667 36,667 Degree of leverage 0.176 0.818 Equity Capitalization for Firm A= (9,000/56,667) = 15.9% Equity Capitalization for Firm B = (7,000/36,667) = 19.1% TRADITIONAL APPROACH The traditional approach argues that moderate degree of debt can lower the firms overall cost of capital and thereby, increase the firm value. The initial increase in the cost of equity is more than offset by the lower cost of debt. But as debt increases, shareholders perceive higher risk and the cost of equity rises until a point is reached at which the advantage of lower cost of debt is more than offset by more expensive equity. The principal implication of the traditional approach is that the cost of capital is dependent on the capital structure and there is an optimal capital structure which minimizes the cost of capital. At this level, the real marginal cost of debt and equity is the same. MODIGLIANI AND MILLER POSITION Similar to NOI Approach Value of the firm is independent to its capital structure i.e. Independence of total valuation and the cost of capital of the firm from its capital structure NOI is purely conceptual, Doesnt provide operational justification Supports NOI and provides behavioral justifications. Assumptions: Capital market is perfect (i)Investors are free to buy and sell (ii) Well informed market (iii) Firm investors can borrow on the same terms (iv) Rational behavior of investors (v) No transaction cost Homogeneous risk class All investors have the same expectations of the firms EBIT No Corporate Tax Preposition I The value of a firm is equal to its expected operating income divided by the discount rate appropriate to its risk class. It is independent of its capital structure.'[16] V= D + E = O/r Where: O is the expected operating income; r is the discount rate applicable to risk class. MM invokes an arbitrage argument to prove the preposition. In equilibrium, identical assets sell for the same price, irrespective of how they are financed. This is also known as the law of conservation of value. Arbitrage Argument Consider two firms U and L, similar in all respects except in their capital structure. Firm U is unlevered, financed by equity alone and firm L is a levered firm. Firm A Firm B Operating income(Rs.) 1,50,000 1,50,000 Interest 0 60,000 Equity Earnings 1,50,000 90,000 Cost of equity 0.15 0.16 Market value of equity 10,00,000 5,62,500 Cost of debt 0.12 Market value of debt 0 5,00,000 Market value of the firm 10,00,000 10,62,500 Average cost of capital 0.15 0.1412 The value of the levered firm is higher than that of the unlevered firm. Such, a situation, argue MM, cannot persist because equity investors would do well to sell their equity in firm L and invest in firm U with personal leverage. For example, if an investor owns 10% equity in firm L, he would: Sell his equity in firm L for Rs. 56,250 Borrow Rs. 50,000, an amount equal to 10% of Ls debt at an interest rate of 12%. Buy 10% of firm Us equity for 1,00,000. His income remains the same. Old income from investment in firm L New income from investment in firm U 10% firms equity income 9,000 15,000 12% interest on loan of Rs. 50,000 (6,000) 9,000 9,000 When investors sell their equity in firm L and buy the equity in firm U, the marker value of firm L tends to decline and the market value of firm U tends to rise. This process continues until the market value of both the firms become equal. As a result, the cost of capital for both the firms becomes the same. Preposition II Firm A 100% equity Firm B 50-50%ratio Expected earnings per share (Rs.) 4 5 Price per share(Rs.) 20 20 Expected return to equity shareholders 20% 25% An increase in financial leverage increases the expected earnings per share but not the share price. This is because the change in the expected earnings is offset by a corresponding change in the return required by shareholders. We know, re = ra + (ra-rd)(D/E) Preposition II states that The expected return on equity is equal to the expected rate of return on assets, plus a premium. The premium is equal to the debt-equity ratio times the difference between the expected return on assets and the expected return on debt. The general implications are that for low levels of debt, the firms debt is considered risk-free. This means that rd is independent of D/E and hence re increases linearly with D/E. As the debt reaches a threshold limit, the risk of default increases and the return on debt rd rises. To compensate this , the rate of increase in re decreases. This happens because, beyond the threshold level, a portion of the firms business risk is borne by the suppliers of the debt capital. WACC Warnings Sometimes the objective in financing is not maximize overall market value but to minimize the WACC. If MMs proposition 1 holds true then they are equivalent objectives. However, if they dont, then the capital structure that maximizes the value of the firm also minimizes its WACC. Warning 1: Shareholders want management to increase the firms value. They are more interested in being than in owning a firm with low WACC. Warning 2: Since shareholders demand higher expected rates of return than bondholders, therefore debt is the cheaper capital source, so WACC can be reduced by borrowing more. However, this extra borrowing leads the stockholders to demand a still higher expected rate of return.[17] Criticisms of MM Theory Firms are liable to pay taxes on their income. Bankruptcy costs are quite high. Agency costs exist because of conflict of interest between managers and shareholders. Managers have a preference for a certain sequence of financing. Personal leverage and corporate are not perfect substitutes. TRADE-OFF THEORY OF CAPITAL STRUCTURE It states that a company chooses how much debt finance and equity finance to use by balancing the costs and benefits. It states that there is an advantage to financing with debt which is the  tax benefits of debt  and there is a cost of financing with debt which is the costs of financial distress including  bankruptcy costs of debt  and non-bankruptcy costs. A firm that is  optimizes its overall value focuses on the trade-off when choosing how much debt and equity to use for financing. COSTS OF FINANCIAL DISTRESS Different firms and different industries will have different magnitudes of costs if they encounter financial distress. With some firms, distress will result in both customers and suppliers fleeing. With other firms, the fact that a firm is close to bankruptcy will not affect customers. When a firm experiences financial distress several things can happen. Arguments between shareholders and creditors delay the liquidation of assets. Bankruptcy cases take years to settle and during this period machineries and equipments rust and become obsolete. Assets sold under distress conditions, fetch a price lesser than their economic value. The legal and administrative costs associated with bankruptcy are quite high. Managers may lower the quality of goods, give unacceptable customer service, ignore welfare in a bid to survive in the short run. BANKRUPTCY COSTS OF DEBT   These the increased costs of financing with  debt  instead of  equity  that result in a higher  probability  of  bankruptcy. The fact that bankruptcy is generally a costly process and not just a transfer of  ownership  implies that these costs negatively affect the total  value  of the firm. These costs can be thought of as a financial cost, because as the probability of bankruptcy increases the financial costs increases. PECKING ORDER THEORY  OR  PECKING ORDER MODEL It  states that companies  prioritize  their sources of financing according to the law of least effort, or of least resistance, preferring to raise equity as a financing means of last resort. Hence, internal funds are used first, and when that is depleted,  debt  is issued, and when it is not sensible to issue any more debt, equity is issued. This theory prefers internal financing when available and maintains that businesses adhere to a  hierarchy  of financing sources and, and debt is preferred over equity if external financing is required. AGENCY COST   It is an  economic  concept that relates to the cost incurred by an organizations associated with problems such as divergent  management-shareholder objectives and  information asymmetry.   The information asymmetry causes the agency problems of  moral hazard and  adverse selection. Agency costs mainly arise due to divergence of control, separation of ownership and control and the different objectives the managers consider. KINDS OF ANALYSIS FOR CHOOSING THE CAPITAL STRUCTURE Leverage Analysis EBIT EPS Analysis ROI ROE Analysis Ratio Analysis Cash Flow Analysis Comparative Analysis Capital Structure Policies in Practice We will see a few in detail. LEVERAGE ANALYSIS : Leverage arises from the existence of Fixed Costs. There are two kinds of Leverage: Operating Leverage: arises from the firms Fixed Operating costs such as salaries, depreciation, insurance, property taxes, and advertising outlays. Financial Leverage: arises from the firms Fixed Financing Costs such as Interest on Debt. Sales Sales 500 units 600 units Revenues 500,000 600,000 Variable operating costs 250,000 300,000 Fixed operating costs 200,000 200,000 Earnings before interest and taxes 50,000 100,000 Operating leverage arises from the existence of fixed operating expenses. When a firm has fixed operating expenses, 1 percent change in unit sales leads to more than 1 percent change in EBIT. Consider the case of a firm, XYZ Limited which is currently selling a product at Rs 1000 per unit. Its variable costs are Rs 500 per unit and its fixed operating costs are Rs 200,000. The earnings before interest and taxes at two levels of sales, viz., 500 units and 600 units, is shown below: In the above example, a 20 percent increase in unit sales leads to a 100 percent increase in profit before interest and taxes, thanks to the existence of fixed operating costs. Hence, fixed operating costs magnify the impact of changes in revenues. This the magnification works in the reverse direction as well. Degree of Operating Leverage It refers to the sensitivity of PBIT (or EBIT) to changes in unit sales or Sales. Picture1.png It measures the effect of change in sales revenue on the level of PBIT. Financial leverage emanates from the existence of fixed interest expenses. The use of fixed-charges sources of funds, such as debt and preference capital, along with owners equity in the capital structure is known as financial leverage (or gearing or trading on equity). When a firm has fixed interest expenses, 1 percent change in profit before interest in taxes (PBIT) leads to more than 1 percent change in profit before tax (or profit after tax or earnings per share). Consider the case of XYZ Limited, which currently has an PBIT of Rs 50,000. Its fixed interest expenses are Rs 30,000 and its tax rate is 50 percent. It has 10,000 shares outstanding. The profit before tax, profit after tax, and earnings per share for XYZ Limited at two levels of PBIT, viz., Rs 50,000 and Rs 60,000 are shown below: Case A Case B Profit before interest and taxes 50,000 60,000 Interest expense 30,000 30,000 Profit before tax 20,000 30,000 Tax 10,000 15,000 Profit after tax 10,000 15,000 Earnings per share 1 1.50 In the above example a 20 percent increase in PBIT leads to a 50 percent increase in profit before taxes (or PAT or EPS), thanks to the existence of fixed interest expenses. Hence, fixed interest expense magnifies the impact of changes in PBIT. The magnification works in the reverse direction as well. Degree of Financial Leverage It refers to the sensitivity of PBT (or PAT or EPS) to changes in PBIT. The financial leverage employed by a company is intended to earn more return on the fixed-charge funds than their costs. The surplus (or deficit) will increase (or decrease) the return on the owners equity. Combined leverage, or total leverage, arises from the existence of fixed operating costs and interest expenses. Due to the existence of these fixed costs, 1 percent change in unit sales, leads to more than 1 percent change in PBT (or PAT or EPS). Consider the case of XYZ Limited, which currently has revenues of Rs 500,000. (Rs 500 units are sold at Rs 1,000 per unit). Its variable costs are Rs 500 per unit and its fixed operating costs are Rs 200,000. Its fixed interest expenses are Rs 30,000 and its tax rate is 50 percent. It has 10,000 shares outstanding. The financial profile of the company at two levels of sales viz. 500 units (the current level) and 600 units (a level 20 percent higher than the current level) is shown below. Sales Sales 600 units 500 units Revenues 500,000 600,000 Variable operating costs 250,000 300,000 Fixed operating costs 200,000 200,000 PBIT 50,000 100,000 Interest 30,000 30,000 Profit before tax 20,000 70,000 Tax 10,000 35,000 Profit after tax 10,000 35,000 Earnings per share 1 3.5 In the above example, a 20 percent increase in unit sales leads to a 250 percent increase in earnings per share, due to the existence of fixed operating costs and interest expenses. Also, fixed costs magnify the impact of changes in unit sales. Degree of Combined Leverage It refers to the sensitivity of PBT (or PAT or EPS) to changes in unit sales or sales. PBIT-EPS Analysis EPS is sensitive to changes in PBIT under different financing alternatives. where EPS = earnings per share, EBIT = earnings before interest and taxes, I = the interest burden, t = the tax rate, and n= the number of equity shares. Break-Even PBIT Level Consider the following data for ABC Limited. Existing Capital Structure: 1 million equity shares of Rs. 10 each Tax Rate : 50 percent ABC Limited plans to raise additional capital of Rs. 10 million for financing an expansion project. In this context, it is evaluating two alternative fina