Management Styles and Organizational Performance

Presentation Management styles are techniques for authority for arranging, coordinating, impacting, driving and encouraging hierarchical execution. They direct how administrators are to decide, regardless of whether to include subordinates or whether to dismiss them. What's more, each style has its extraordinary highlights that direct how representatives and administrators are to relate and communicates.Advertising We will compose a custom basic composing test on Management Styles and Organizational Performance explicitly for you for just $16.05 $11/page Learn More On the other hand, Management speculations are the arrangement of decides or rules that look to help and direct chiefs in creating successful methods of dealing with an association (Miles 2012). Such hypotheses act by helping representatives in guaranteeing that they build up a powerful relationship with the objectives of the business and execute some successful methods of accomplishing these objectives. The board speculat ions incorporate Fayol’s hypothesis of the executives, Taylor’s logical hypothesis, Max Weber’s hypothesis and Maslow’s various leveled hypothesis of human needs. Each has its interesting highlights. Fayol’s hypothesis underscores on division of work/fill in as a method of diminishing the range of human endeavors (Cole 2011). Taylor’s hypothesis (Taylorism) includes separating of the key segments of assembling assignments and timing every development so as to decide the most ideal method of playing out every one of the undertakings (Jide 2011). Weber’s hypothesis stresses on bureaucratic authority models. Administration in this hypothesis suggests to the hierarchical structure applied in an individual foundation it applies to various predominant features of the association, including progressive system of power (Gomez-Mejia, Balkin Cardy 2009). As indicated by Weber’s hypothesis, authority must be separated from power since pow er is a one-sided object while authority is the employees’ acknowledgment of administrative standards. Maslow’s hypothesis expect that individuals make a solid effort to fulfill essential needs and afterward continue to fulfill different necessities. In associations, a worker mush have their lower level needs fulfilled so as to support them perform for the hierarchical objectives. Writing audit: Leadership styles Autocratic administration style In Autocratic style of the board, the authoritative chief settles on choice singularly without focusing on representatives or subordinates, their suppositions or perspectives. Consequently, the director is the sole dynamic body. In that capacity, the choices made are intelligent of the manager’s character just as thoughts. The supervisor is in charge of the association and its members.Advertising Looking for basic composition on business financial matters? How about we check whether we can support you! Get your first pape r with 15% OFF Learn More Any individual working under the chief must get orders from him/her guiding them what to do. Furthermore, there is little level of meetings between the top administration body and the subordinates. The style guarantees that all the subordinates comply with the standards and requests given to them by the supervisor. For example, it helps the administration in dire assignments that require fast choices. It is additionally basic in circumstances with a component of hazard about the business procedure. Be that as it may, the style is probably going to confront absence of imagination since workers have no info. Choices made by one individual are probably going to be imperfect. Instances of defilement, maltreatment of forces and bungle are probably going to happen if the director is awkward. Paternalistic style of the executives This administration style is like dictatorship in light of the fact that the administrator takes a significant part of the obligations r egarding deciding. In any case, there is a thinking about the subordinates. The term paternalistic infers that as far as possible the conduct and freedom of the administrator or top administration from exclusively taking of duties. Despite the fact that the style permits the supervisors to have a few respects for the subordinates, there is little extension for them to decide. This technique affects the association since representatives are probably going to feel esteemed and persuaded. Nonetheless, they are additionally prone to feel disappointed and dismissed in light of the fact that their commitment to dynamic procedure is negligible and restricted. Equitable administration style Democracy requires the supervisor to include the subordinates and lower level representatives in the dynamic procedure. The manager’s job isn't to decide, however to go about as a pioneer, coordinator and facilitator during the time spent dynamic. Truth be told, choices achived through a dominant part vote. There must be broad correspondence and meeting, which partakes in the two bearings (from pioneers to workers and representatives to pioneers). The strategy is valuable when an association is in vital or troublesome circumstance that requires choices made dependent on a wide scope of aptitudes, information and specializations. What's more, it is probably going to energize representatives perform better in their work environment since they know that they have a main task to carry out in hierarchical administration. Workers build up a feeling of having a place and are pleased with their association. Be that as it may, majority rules system in associations is probably going to deliver some adverse impacts.Advertising We will compose a custom basic composing test on Management Styles and Organizational Performance explicitly for you for just $16.05 $11/page Learn More First, the procedure of dynamic is moderate in light of the fact that each individual in the association is in cluded, offering different thoughts and recommendations. Also, directors can't take the best choice in light of the fact that a choice is reached by a straightforward dominant part vote. Indeed, even an off-base choice can be picked in light of the fact that the larger part wins. Additionally, workers may drive choices that favor their government assistance yet malicious to the authoritative execution. Free enterprise the board style In Laissez-Faire, the chief has little effect in providing requests and headings to the representatives. Representatives are allowed to settle on their own choices without including the chief. The expression â€Å"hands off† is utilized to depict this type of administration on the grounds that the chief doesn't play a main job in controlling the conduct of the workers, however just encourages authoritative execution. The strategy is helpful in situations where an association has profoundly gifted, prepared and committed master groups. Each repres entative knows their activity. Each worker is their own chief. In any case, the technique is exceptionally disordered in light of the fact that there is no unified control. Since everybody has the opportunity to decide, choices may crash into one another, prompting the breakdown of the association. Also, there must be standard input and correspondence so as to perform. Something else, the association will fall. The significance of compelling administration An audit of the administration speculations has uncovered that directors assume a fundamental job in any association. Crafted by the executives, paying little mind to the administration hypothesis in application, requires successful dynamic, driving, coordinating and empowering elevated level execution. Along these lines, successful administration is a basic part of each association (Miles 2012). For example, compelling administration necessitates that authoritative pioneers be â€Å"good managers†, which makes them the way to upgrade execution and support an increasingly serious economy by guaranteeing that their individual associations are high performing undertakings. Managers’ capacity to improve execution implies that associations will accomplish the ideal degrees of development and extension (Miles 2012). Thus, it suggests that more individuals are set to join the association, consequently making openings for work for a given population.Advertising Searching for basic composition on business financial matters? How about we check whether we can support you! Get your first paper with 15% OFF Find out More References Cole, GA 2011, â€Å"Management: Theory and Practice†, Mason, OH: Cengage Learning. Gomez-Mejia, LR, Balkin, D Cardy, R 2009, â€Å"Management: People, Performance, Change†, New York, NY: McGraw-Hill Jide, AP 2011, â€Å"The Handbook on Management Theories†, New York, NY: AuthorHouse Miles, JA 2012, â€Å"Management and Organization Theory: A Jossey-Bass Reader†, London, UK: Wiley Publishers. This basic composition on Management Styles and Organizational Performance was composed and presented by client Madeleine U. to help you with your own investigations. You are allowed to utilize it for exploration and reference purposes so as to compose your own paper; be that as it may, you should refer to it in like manner. You can give your paper here.

The Presentation Of Childhood In Adult Literature Essay Example for Free

The Presentation Of Childhood In Adult Literature Essay The childs failure to decipher the grown-up world is frequently vital to the introduction of adolescence in grown-up writing. Look at the introduction of youth in Spies and Atonement, considering to what degree you feel this remark is appropriate to these writings. As is much of the time the case with books composed for grown-ups with youngsters as the principle heroes, the introduction of youth underscores the guiltlessness of those at a youthful and frequently youthful age. At the point when this present reality resembles a fantasy, regular exercises are play and grown-ups are a different animal varieties with puzzling social shows, a youngster will frequently attempt to comprehend grown up parts of life, however will make certifiable errors. Numerous journalists think back on their childhood with affection and utilize these errors for either comic aim, for example, in Frayns Spies, or forever changing catastrophe in McEwans Atonement. In these two books, just as the noticeable quality of adolescence and recollections being reviewed as a grown-up, there is additionally the recorded setting to be considered in how this influences the introduction of youth. The two books are set during the Second World War. Life in Britain during the 1930s and 40s was a period of progress for society, during which the ascent of the urban common laborers had prompted critical changes in legislative issues. On account of the war and the unexpected nonappearance of colossal measures of the populaces men, families as units were changing more ladies were working simultaneously as being moms. Be that as it may, the class framework despite everything held a firm hold on society, with each individual mindful of their own status. It directed what they would accomplish or become, in the event that anything, throughout everyday life. This is appeared in Spies as Stephen feels substandard compared to his companion Keith. He knows he originates from a less wealthy milieu and goes to an alternate school. In Atonement Robbie Turner experiences for his entire life the segregation that accompanies being average workers and the child of the Tallises housekeeper. In Spies, the character of Stephen is depicted thoughtfully, yet not in every case wistfully, by his more seasoned self. Diversion is utilized habitually to welcome the peruser to snicker at Stephens insufficiencies or bogus ends. However, with the separation made by the development of the storyteller, Stephens youth inconveniences and injuries can be seen with a feeling of point of view. In the primary passage of the novel, the storyteller says, Im a youngster again and everythings before me all the terrifying, half comprehended guarantee of life. Stephen is continually dreadful and kept down by his devastating failure to be valiant. He has a battle or flight attitude, twinned with a propensity for shirking. This is exhibited by his adolescent propensity for truly closing his eyes when in a perilous or tense circumstance, vainly attempting to get away. Another part of his extraordinary uneasiness is his dread of germs every little thing about them (the kids in the Lanes) is obviously loaded down with germs and his reasonable dread of Mr Hayward. The storyteller relates Stephens sentiments genuinely and doesn't keep down humiliating subtleties his being prodded by his colleagues, or his creeping into his folks bed after a bad dream. As a kid going into puberty, there builds up a developing sexuality with the impact of Barbara and attention to his own mortality and weakness, yet he despite everything has silly musings and emotions that as a grown-up he doesn't discover so all-devouring any more: The creative mind ages, such as everything else. The force blurs. You dont get as apprehensive as you used to Chapter 11, p232. Barbaras character represented by her blue bobble handbag, the two interests and agitates Stephen. This is appeared in Chapter 5 when she encroaches into the refuge in the shrubberies, grinning her huge taunting grin, making herself totally at home. p96. Stephen is insulted by her very nearness and goes off on a blustering portrayal Theres something innocently vain about the bobbliness of the cowhide and the gloss of the popper that affronts me nearly as much as her interruption. Unfit to process his genuine emotions, he reprimands objects for his terrible mind-sets. He dismisses anything female, which is an exemplary quality for little fellows incapable to get girlhood. The naivety of adolescence is caught in Spies on the grounds that there are such a significant number of mistaken assumptions on Stephen and Keiths part about what is truly going on in the Close and who is conceivably a government operative. The storyteller as often as possible poses explanatory inquiries about how much the kid knew, and whether he ought to have seen any irregularities in the tales he effectively accepted at that point. Penance is like Spies in that it has a youngster hero, the gifted and insightful Briony, yet she is as opposed to the withdrawn and distrustful Stephen. Both Briony and Stephen make suppositions about the grown-ups around them. The account structure of Atonement is diverse to Spies in that it has the additional post-current bit of a storyteller who takes a scholars freedom to change what truly occurred. While Spies concerns just a single little universe of Stephen, Brionys more seasoned self expounds on the more extensive world, with the section two concerning Robbie in involved France. One might say that while Atonement is a fantastic display, Spies is a claustrophobic, agonizing smaller than normal (Geraldine Brooks, Slate.com.). Notwithstanding, it is hard to totally concur with this view considering Spies. As it is still fundamentally worried about archiving life during the war, the meaning of the more extensive world become looser and all perspectives, regardless of whether from an abroad warrior or a protected youngster, could be viewed as legitimate and significant. Youth in Atonement is fixated on the one critical misconception that Briony makes, and that makes disaster resound in the destroyed existences of Cecilia and Robbie. Due to her failure to comprehend that Robbies enthusiasm for Cecilia is entirely ordinary as a grown-up, she at that point has a dream that he is a sex insane person because of the stunning letter, and she isn't fit for considering her to be sister as a willing member in the library. As occasions in the house snowball and she deciphers cousin Lolas quiet for affirmation of her doubts of Robbie, she is glad to be helpful and give the announcement to the police that denounces him. Later in her life she understands her error and increases quietude, attempting to offer reparations for what she had done. Yet, Briony is maybe by all account not the only one to be accused, for in Cecilias letter to Robbie to a limited extent two her point of view shifts culpability from Brionys naughtiness more to the distracted, uninsightful grown-ups: They decided to accept the proof of a senseless, insane young lady. Truth be told, they empowered her by giving her no space to turn around. She was a youthful thirteen, I know. Likewise noteworthy in the introduction of adolescence in Atonement is the bay between the grown-ups and the youngsters. On contemplating her interference of the library, Briony understands that Robbie must detest her. She depicts it as another passage, another first: to be abhorred by an adultChildren detested liberally, impulsively. It barely made a difference. Be that as it may, to be the object of grown-up scorn was a commencement into a grave new world. It was advancement. Briony yearns to be progressively grown up and imagines that she knows about the grown-up world. In any case, her energized innocence and propensity to over overstate keeps her from ever being persuading. Briony wavers near the very edge of youthfulness, similarly as Lola ached to lose the last limits of adolescence. In perusing Atonement we see the offspring of 1935 the area of the wrongdoing through the eyes and pen of the grown-up of the 1999 coda. Toward the start of section 13 it says with the knowledge and incongruity of the grown-up, Within 30 minutes Briony would perpetrate her wrongdoing. The tale incorporates parts of the transitioning classification, or Bildungsroman. The tale of Brionys singular development and advancement happens with regards to wartime and the particular sort of sentimentalism that frequently accompanies accounts of WW2 youth (the blend of mindfulness and honesty, with the guiltlessness being adulterated by the war and obliteration going on around them). In the event that the childs failure to decipher the grown-ups around them is key to the introduction of youth in grown-up books, at that point it is reasonable to state that the two Spies and Atonement utilize the full assets of a grown-up mindset recalling her/himself. They are both grown-up account voices reflecting climate of blamelessness mistreated by information. Stephen and Briony are too youthful to even consider processing the grown-up world, so they have their own translations, and these lead to results that influence the result of the accounts. Reference index Spies, Michael Frayn, 2002 Faber and Faber Expiation, Ian McEwan, 2002 Vintage Spies York Notes Advanced by Anne Rooney, 2007 Expiation Text Guide by Robert Swan, Philip Allan Updates 2006 Brionys Stand Against Oblivion: Ian McEwans Atonement by Brian Finney, 2002 http://www.csulb.edu/~bhfinney/mcewan.html

Lemurs in Madagascar Assignment Free Essays

Partner Level Material Lemurs in Madagascar Assignment View the â€Å"Lemurs in Madagascar †Surviving on an Island of Change† video. Utilizing the data found in this video, and in Ch. 5 and 6 of Visualizing Environmental Science, answer the accompanying inquiries in 25 to 100 words each. We will compose a custom article test on Lemurs in Madagascar Assignment or on the other hand any comparative point just for you Request Now 1. What are Madagascar’s biomes? Talk about the significant highlights of at any rate one of these biomes. Utilize the course reading for biome models. A= In Madagascar their biome is the tropical rainforest. A component of a biome from the tropical rainforest is the temperature; it is normally warm yearly with downpour consistently. There are 3 distinct layers to the biome in the tropical rainforest, first being the layer on trees, the subsequent layer being on the leaves, and the keep going layer being on the ground of the rainforest. 2. What changes occurring in Madagascar are presenting difficulties for lemurs? Give insights regarding the sources, time scale, and sorts of progress. A= the progressions that are going on are making numerous difficulties to lemurs is the pulverization of the tropical rainforest by people. Lemurs eat the leaves from the trees, and if the trees are being chopped down it is pulverizing the rainforest as well as the lemur’s wellspring of nourishment. 3. Which sorts of lemurs are adjusting to the changes? Which kinds of lemurs are not adjusting great? Why? A= the lemurs that are doing great with the progressions are the ones auxiliary to the territories changed by individuals, these lemurs are known as the ring-followed lemur, they utilize the harvests of the individuals to discover nourishment because of the pulverization of the rainforest. The lemurs that are not adjusting great are the bamboo lemurs, they eat just bamboo and since a ton of plants are gone they don't have nourishment to eat. 4. What conduct and physical characteristics are being supported in lemurs in the changing Madagascar condition? A= well a portion of the lemurs can adjust to the progressions and they are examining this sort to perceive what will assist them with changing and furthermore to check whether that change can be appeared to different lemurs. 5. For what reason may lemurs not advance to adjust to the adjustments in Madagascar? A= this can happen is a lemur possibly eats a particular sort of plant and on the off chance that there is not, at this point plant in the rainforest, at that point the progressions for that type of lemur won't be acceptable. 6. Which biogeochemical cycles might be adjusted by anthropogenic exercises on Madagascar, and how? A= this includes the change between air gases, soils, seas and living life forms. Since the people keep on obliterating these assets in Madagascar regions will kept on being affected. Reference â€Å"Lemurs in Madagascar: Surviving on an Island of Change. † Films Media Group, 2006. Movies on Demand. Instructions to refer to Lemurs in Madagascar Assignment, Papers

How to Write a Good Exploratory Essay

Any exploratory essay provides readers with answer to a question, but usually it is not the one answer. Usually, such papers look at all various opinions people hold, and express them to readers. Most textbooks and news reports use this kind of writing. The reader can make up their mind without being persuaded by the author. An exploratory paper never argues for a certain position or opinion, it just provides the audience with different points of view and let people find their own mind. When you are choosing exploratory essay topics, its important to select a subject where you will be able to provide detailed researches. All arguments you will provide in your work should be supported with strong evidence, so your main task is to provide your readers with various opinions about the topic and include facts to prove them. When you are looking for exploratory topics, remember that your future paper should have next features: You should include at least two arguable sides into your work (if its possible, there could be more sides); Make sure you can find enough information about chosen subject; Choose a topic where most people are unable to agree; Make sure you will be able to include facts that are not based just on opinions; Select a subject that will be interesting to people to talk, discuss, and argue. How to choose a researchable topic? When you are in a search of successful and bright topics for exploratory essay, you should select those questions you can research. For example, if you want to write about how people can life forever, you wont be able to create a good essay because there is not enough information on this topic to make research. Sometimes the chosen question may be too specific so you would be able to find only one or two sources for your research, that is also wont let you a chance to write a bright essay. These are several tips about finding a good researchable topic for your future paper: Be careful when writing about political things: every topic about politics has a certain angle of view, and you may find some sources that wont match the view you need. You may find a lot of sources about chosen subject, but many of them would be unreliable because they wont match the angle you need. Find your own method to choose a great topic. At start try to select a broad topic with a large amount of facts, information and opinions, and then narrow the subject according to your own view of question. Make as much as possible researches to find a successful subject. The more information you find about the broad topic, the more chances you have to separate the more specific subject from the broad category. Make sure you have found enough information about various arguable sides of your question. You need not just to provide your readers with different opinions, but support your arguments with good evidence. Always choose a subject that is interesting to you to research, discuss, and write about. This will help you to create an interesting and strong work to attract a lot of readers. 30 topics for exploratory essay Here we prepared 30 interesting exploratory topics for 2017-2018 that will attract readers attention and help you get a good idea for your future paper: It is possible to find a real love on the meeting site? How technology affects our society and health? How the infertile couples can have a healthy baby? Why computers became so important in schools and is it good for both teachers and students? Should schools decline paper books and use only digital? How the school libraries will transform if paper books will disappear? Is online dating a good idea? Is it possible for people to reject the Internet at least for a day? It is safe to keep your money in the bank? Should gasoline cars be replaced with electric to save our environment? Why men and women look at relationship and dating different? Is it possible to be totally happy being single? Is it better to drink coffee or tea in the morning? Is it possible for our planet to get closer to a Third World War? Why so many people are diagnosed with a depression, even if they are not lonely? Why there are so many people that are against Donald Trump? Why it is not good to watch TV a lot for both children and adults? How to define if you are really happy with your life? Should some workers (post-offices, waitresses, cleaners) be replaced with robots in the future? What are main difficulties of freelance working compared to office? Why single women with a child feel so difficult and desperate to find a match? Why some couples live for more than 20 years in a marriage, but then divorce? Should young women save virginity till the marriage? Whats the main role of European Union and how it affects other countries? Should more sports be included into the school program? Why so many people adore fantastic books when others hate them? Should prisoners be allowed to get married in the prison? Why some women dont want to have children and make career instead of make a family? Which marriages are the strongest – teenagers or mature people? Is it possible for medicine to find treatment from all diseases in the future? We hope that our short tips and list of exploratory essay topics was useful for you, and this short guide was helpful in writing a successful and interesting paper.

Ethical Implications Of An Ethical Argument - 900 Words

There are many ethical topics for which people have vastly different views. The reasons for these views can vary among every person. When people have an opinion on an ethical topic it is there ethical judgment or their conclusion on the matter. For many opinions there are ethical reasons that would cause the opinions. An ethical argument is an argument or discussion based in ethical reasoning for why one opinion is right over another. An ethical argument must be based around right and wrong, not around economics, politics, or popular culture. Although someone may have a valid reason that is not ethical for his or her opinion on a subject the argument is not considered an ethical argument unless the reasoning is ethical. For example someone may believe abortion is wrong because you are killing a developing human. This would be an ethical argument. Saying abortion is wrong because it can cost taxpayers money is not an ethical argument. In ethics there are ethical dilemmas and ethical conflicts. The two seem the same, though they are not. An ethical dilemma is when someone must choose between two potentially correct morals. Both could be considered â€Å"right† for a different reason. For example, in Divergent both Tris and Caleb, along with many other young people have to decide between faction or blood at the choosing ceremony. They have to decide whether their family is more important or their future is more important. Family could be considered an ethicalShow MoreRelatedThe Ethical Implications of Genetic Screening and Testing: Arguments For and Against1919 Words   |  8 Pagesgenetic testing (NHGRI, 2005). For the purpose of this paper, the two terms will be used interchangeably. Given the growing number of genetic tests available for identifying genetic diseases, it is important to examine the ethical implications of genetic screening as well as the arguments for and against this practice. 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My Life After A Single Parent Home With Four Children

I was raised in a single parent home with four children. So college wasn’t an option after I graduated high school. I was the oldest. So I was essentially my sibling’s mother as well. This put a strain on my education in high school, as well as stopping me from going to college. I had actually always dreamed of becoming a doctor. But I knew I lacked the grades, and funds to do so. I ended up eventually moving out when I was 19, and moved close to a college. But still never went. I always obtained jobs waiting tables, because it was easy money. Because I was in the restaurant field for so long. They eventually offered me a management position. I felt so accomplished at the time. But I worked so many hours, and the pay just didn’t seem to compensate. I also just felt like there was more out there for me. I wasn’t sure yet how to reach those feeling, but they were definitely lingering. I eventually became pregnant with my son. Because my mother was never aro und when I was growing up. I knew once I had children, things would be completely different. I swore to that. While I was carrying my son. I decided to quit my job, and go back to school. I felt as though if I wanted him to be successful, smart, and dedicated. I had to do the same thing. I started part time at CCBC. I actually decided I was going into the nursing program there. As I was taking all my sciences, and math’s. Something still didn’t feel right to me. I was receiving good grades. But still felt unsure of theShow MoreRelatedCriminal Justice1465 Words   |  6 Pagesthe lack of family structure can be one of the biggest causes of delinquency. It touches on four objectives on how lack of family structure can be a cause to a child’s delinquency. One of the biggest causes of delinquency is the lack of stable family structure. For instance, a child could be hurt, if not receiving passionate love and care from their parents. Those not receiving love from their parents or their guardian as a child will probably act out for attention or start creating bad behavioralRead MoreRaising a Child The Responsibility of Both Parents1314 Words   |  6 Pagesa child be the responsibility of both parents? Some people think the responsibility lies on both parents since it took two participants to bring the child into the world. Others don’t think both parents are needed in raising a child or that they should be held responsible and be made to contribute if they don’t want to, therefore shouldn’t be an issue. After researching both sides of the issue, I strongly believe that it is the responsibility of both parents to raise the child they brought into thisRead MoreHow School And Education Affects The Lives Of African Am erican Males And Females1650 Words   |  7 PagesAmerican males and females living in single parent households. 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The secondRead MoreArgumentative Essay About Gay Adoption1295 Words   |  6 Pageswho want to adopt young children and give them a good quality of life, which they would have if they lived with their biological parents or a heterosexual couple, to do so. One positive view of gay adoption is that it gives the gay couple the chance to start their own family and give a child in care a new start to life in a loving home. This will allow the couple to love and care for the child just as much as they would if the child was living with their own biological parents. Gay couples who wantRead MoreMy Father Was An Active Member Of The Marine Corps Essay1482 Words   |  6 Pages the only family I had was my mom and her side of the family. My father was not a big part of my life at that point in time, and our relationship has suffered because of it. For the first four years of my life, my father was an active member of the Marine Corps. His absence in my life impacted our relationship since we never had a chance to connect, and I don t think we ever recovered from that. We’re on good terms now, but we don’t have any special connection like my mom and I do. The two of usRead MoreThe Impact Of Children On Children With Divorce1115 Words   |  5 Pagesorder to explore my topic and answer my inquiry question, I began by searching through a variety of website articles. I then searched through the articles and narrowed it down to two that had opposing views. Lastly, I conducted interviews with two primary sources. All these sources gave me a better understanding of my topic, and how to answer my question. 1.5 million children deal with divorce every year. Researchers have found that only a relatively small percentage of children experience severeRead MoreEssay On Hillbilly Elegy1717 Words   |  7 Pagesthe struggles and triumphs faced by the characters in the memoir and that of my mother’s life. My mom continues to be the strongest person, both physically and mentally, I have ever known. She spends her weeks managing a nonprofit veterinary clinic and her weekends climbing mountains. And while her current endeavors are nothing short of amazing, it s less than shocking compared to the obstacles she has already overcome. My mom was lucky, luckier than most because she did what no one else in her townRead MoreThe Common Core Places On Standardized Testing1634 Words   |  7 Pages The Common Core places a lot of emphasis on standardized testing instead of attempting to reach children in different ways. Not all people learn the same way and a lot of children who happen to be visual or auditory learners are missing the mark on these tests. As these scores remain so essential, several teachers â€Å"over prepare children for the tests through months of drill and practice† even taking away time from recess to prepare (Berliner 254). Sadly, as a result, numerous teachers treat theirRead MoreWhat Career Choices Will You Have Made?806 Words   |  4 Pageslimitations How will your life story have been shaped by the settings of the social clock that was ticking during your adult years? My life story wouldn’t have been shaped by the settings of the social clock. I would have impacted the the lives of children with learning or intellectual disabilities through meaningful instruction, guided teaching, and by teaching them helpful strategies to succeed in life. My husband and I would be successful and have two smart children. What career choices will

Negative effects of technology free essay sample

Teenagers lives revolve around technologically advanced items in the world. Technology is advancing every minute of every day. It is rare that a household does not contain at least one technologically advanced product. Throughout the last decade, technology has created things that people 30 years ago would have never even imagined. These items start from as little as headphones to cell phones to computers to even 3D TVs. Technology has a negative impact in teenagers lives. This will be proven by taking a look at how technology interferes with teenagers academics, how technology creates a social barrier and how technology makes eenagers lazy and get health problems. Technology interferes with teenagers academics. When teenagers play games or use other sources of technology, sometimes they get carried away and postpone their homework time or end up not finishing it. For example, when a teenager has to hand in an assignment the next day, he might intend to use Facebook for an hour but end up procrastinating for many hours and fail to complete the assignment. Technology not only causes children to be physically unhealthy but socially unhealthy as well. It causes social isolation and keeps children consumed in â€Å"what’s new† in the lives of their â€Å"friends† or people they may not even know. Children should get to know one another the natural way – conversing with one another and finding out likes and dislikes. This is how bonds are formed and friendships are made. Social media can also promote cyber bullying. It gives bullies who may not have had the courage to say mean and hurtful things in person a platform. More negative consequences of the overuse of social media are depression, poor sleeping habits, and poor academic performance. When teenagers should be studying or doing homework they find themselves on Facebook or Twitter tricking themselves into believing that they’ll only engage for a few minutes. Not only is it extremely hard to use social media for a moment but it causes adolescents to go to sleep later. It’s just an ugly pattern. Another part of this ugly pattern are cell phones or smart phones because they have become such an important part of life that we take them everywhere even in to the restroom. They have gone from being an emergency device to a personal hand held office and home theater. Parents are buying cell phones for their children younger and younger. Everyone wants to make sure there in the â€Å"in† crowd and not missing out on everything. With the new wave of smart phones that can do it all they are just another distraction. From downloading new apps and the latest games to using Facebook Mobile smartphones are enemy number one. What happened to puzzles and brainteasers? What happen to family game nights and spending time with your siblings? Now, even if there was family time being had the average adolescent would be consumed with texting rather than interacting with their family. The ugly pattern continues. From social media to video games technology has a very negative impact on youth. They lack the proper exercise needed to be healthy. They don’t form the necessary positive social bonds that are essential to growing. Children and adolescents are so consumed by social media that they lack sleep and do poorly in school as a result. Parents are so busy that they allow the television to raise their children instead of spending time reading a good book or playing a game with them. Technology is needed in moderation.

Were the three witches the main cause of Macbeths downfall Essay Example For Students

Were the three witches the main cause of Macbeths downfall? Essay Although the witches were a main cause of Macbeths downfall, the blame cannot lie solely with them. Rather, the unfortunate events were the result of poor judgement, human weakness, and adverse circumstances. The three weird sisters, as they are referred to in the play, planted a seed in Macbeths mind. This seed was the idea he could become king. They did this by saying: all hail Macbeth, hail to thee Thane of Glamis. then all hail Macbeth, hail to thee Thane of Cawdor. and finally all hail Macbeth, that shalt be King hereafter. Macbeth was already Thane of Glamis but he was puzzled because the Thane of Cawdor was still alive. When Macbeth heard of the Thane of Cawdors treachery, and that he was to take his title he began to wonder if the witches had spoken the truth. The seed that the witches had planted was growing. We will write a custom essay on Were the three witches the main cause of Macbeths downfall? specifically for you for only $16.38 $13.9/page Order now However, although the witches planted the seed, Macbeth needed soil for it to grow in. This soil was his lust for power, wealth, and status. After he heard that he was to be Thane of Cawdor he stated, If chance will have me King, why chance may crown me without my stir. So he was suggesting that he might be able to take the throne without actually doing anything. Although at the time he murders King Duncan it is obvious that his greed has taken over. Lady Macbeth was another main cause of the tragedy. Macbeth was having doubts about the appalling thing he was considering, and Lady Macbeth convinced him it was the right thing to do. She called him a coward and told him I have given suck, and know how tender tis to love the babe that milks me: I would, while it was still smiling in my face, have plucked my nipple from its boneless gums, and dashed the brains out, had I so sworn as you have done to this. So in effect she was saying I would go so far as to kill my own child if I had sworn to it like you have sworn to this. Macbeths own weakness was to contribute towards his downfall. It was said in the play brave Macbeth well he deserves that name disdaining fortune, with his brandishd steel, which smokd with bloodied execution, like valours minion carvd out his passage, till he faced the slave: which he neer shook hands or, nor bade farewell to him, till he was unseamd him from the nave to the chops, and fixed his head upon our battlements. This was a statement from one of the soldiers fighting beside Macbeth praising his bravery and valour in battle. However, when it came to strength of character Macbeth was lacking. He let his wife make his earlier decisions for him by manipulating him with her words. He did not have enough strength of mind to make his own decisions about the actions he was about to commit. Although the  witches were a very large contributing factor to the downfall of Macbeth, they werent the only one. Had Macbeth not wanted to be king or lady Macbeth not have pushed him towards it then the outcome could have been somewhat different.

Lustreware - Medieval Islamic Pottery Technique

Lustreware - Medieval Islamic Pottery Technique Lustreware (less commonly spelled lusterware) is a ceramic decorative technique invented by 9th century C.E. Abbasid potters of the Islamic Civilization, in what is today Iraq. The potters believed that making lustreware was true  alchemy  because the process involves using a lead-based glaze and silver and copper paint to create a golden shine on a pot that contains no gold. Chronology of Lustreware Abbasid 8th c -1000 Basra, IraqFatimid 1000-1170 Fustat, EgyptTell Minis 1170-1258 Raqqa, SyriaKashan 1170-present Kashan, IranSpanish (?)1170-present Malaga, SpainDamascus 1258-1401 Damascus, Syria Lustreware and the Tang Dynasty Lustreware grew out of an existing ceramic technology in Iraq, but its earliest form was clearly influenced by Tang dynasty potters from China, whose art was first seen by those of Islam through trade and diplomacy along the vast trade network called the Silk Road. As a result of ongoing battles for control of the Silk Road connecting China and the West, a group of Tang dynasty potters and other craftsmen were captured and held in Baghdad between 751 and 762 C.E. One of the captives was the Tang Dynasty Chinese craftsman Tou-Houan. Tou was among those artisans captured from their workshops near Samarkand by members of the Islamic Abbasid Dynasty after the Battle of Talas in 751 C.E. These men were brought to Baghdad where they stayed and worked for their Islamic captors for some years. When he returned to China, Tou wrote to the emperor that he and his colleagues taught the Abbasid craftsmen the important techniques of paper-making, textile manufacture, and gold-working. He didnt mention ceramics to the emperor, but scholars believe they also passed along how to make white glazes and the fine ceramic pottery called Samarra ware. They also likely passed along the secrets of silk-making, but thats another story entirely. What We Know of Lustreware The technique called lustreware developed over the centuries by a small group of potters who traveled within the Islamic state until the 12th century, when three separate groups began their own potteries. One member of the Abu Tahir family of potters was Abul Qasim bin Ali bin Muhammed bin Abu Tahir. In the 14th century, Abul Qasim was a court historian to the Mongol kings, where he wrote a number of treatises on various subjects. His best-known work is The Virtues of Jewels and the Delicacies of Perfume, which included a chapter on ceramics, and, most importantly, describes part of the recipe for lustreware. Abul Qasim wrote that the successful process involved painting copper and silver onto glazed vessels  and then refiring to produce the lustrous shine. The chemistry behind that alchemy was identified by a group of archaeologists and chemists, led by who reported Spains Universitat Polità ¨cnica de Catalunya researcher Trinitat Pradell, and discussed in detail in the Origins of Lustreware photo essay. The Science of Lusterware Alchemy Pradell and colleagues examined the chemical content of glazes and the resulting colored lusters of pots from the 9th through 12th centuries. Guiterrez et al. found that the golden metallic shine only occurs when there are dense nanoparticulated layers of glazes, several hundred nanometers thick, which enhance and broaden the reflectivity, shifting the color of the reflected light from blue to green-yellow (called a redshift). These shifts are only achieved with a high lead content, which potters deliberately increased over time from Abbasid (9th-10th centuries) to Fatimid (11th-12th centuries C.E.) luster productions. The addition of lead reduces the diffusivity of copper and silver in the glazes and helps the development of thinner luster layers with a high volume of nanoparticles. These studies show that although the Islamic potters may not have known about nanoparticles, they had tight control of their processes, refining their ancient alchemy by tweaking the recipe and production steps to achieve the best high reflecting golden shine. Sources Caiger-Smith A. 1985. Lustre Pottery: Technique, tradition, and innovation in Islam and the Western World. London: Faber and Faber. Caroscio M. 2010. Archaeological Data and Written Sources: Lustreware Production in Renaissance Italy, a Case Study. European Journal of Archaeology 13(2):217-244. Gutierrez PC, Pradell T, Molera J, Smith AD, Climent-Font A, and Tite MS. 2010. Color and Golden Shine of Silver Islamic Luster. Journal of the American Ceramic Society 93(8):2320-2328. Pradell, T. Temperature resolved reproduction of medieval luster. Applied Physics A, J. MoleraE. Pantos, et al., Volume 90, Issue 1, January 2008. Pradell T, Pavlov RS, Gutierrez PC, Climent-Font A, and Molera J. 2012. Composition, nanostructure, and optical properties of silver and silver-copper lusters. Journal of Applied Physics 112(5):054307-054310.

Happiness Advantage Essay Example | Topics and Well Written Essays - 1250 words

Happiness Advantage - Essay Example However, for every success, goalposts are pushed further and further, and happiness is forced to the horizon. In a recent research that has been conducted in the area of positive psychology and neuroscience, there is evidence that in circumstance that the relationship between happiness and success works backward. Through this cutting –edge- science, it is now apparent that happiness is what produces success according to Achor. Dr. Achor argues that optimism and happiness gear to achievement and performance that result in competitive edge called ‘Happiness Advantage. The authors say, waiting to be happy limits the brain’s potential to success, while by positive minds results in more motivation, resilience, creativity, productivity and efficiency increase a person’s performance. The author says that is his discovery is based on a research he carried out in 500 companies worldwide and an interview with 1600 students in Harvard School (Achor 100). There are sev en main principles from the Happiness Advantage by Shawn Achor that produce happiness. These principles include Happiness Advantage, The Tetris Effects, The Zorro Circle, Social Investment, The Fulcrum and the Lever, Falling Up, and The 20-Second Rule. The author was raised in Waco, Texas, and he never anticipated leaving the city. As he applied in Harvard, he wanted to train as a volunteer firefighter. He was unexpectedly accepted in the school, and this made him feel honored and privileged. After pursuing his studies, he becomes a proctor, hired to assist undergraduates navigate through the academic success and happiness. The author explains that his life in Harvard changed the way his brain processed his experience. Many learners in Harvard saw the school as a privilege, but others did not see this as they mainly focused on competition, workload and stress (Achor 120). The students felt inundated by every small challenge instead of being motivated by the opportunities ahead

Is Spontaneous Order a Form of Social Justice for Hayek Essay

Is Spontaneous Order a Form of Social Justice for Hayek - Essay Example Is Spontaneous Order a Form of Social Justice for Hayek? Then from the literature review, the views of various authors related to theory of Hayek will be taken into account to link these terms up. Finally, after a thorough analysis the final conclusion will be presented to sum up the whole theory. The concept of â€Å"Spontaneous order† is an order that emerges with the volunteer actions of the individuals and not the one that is artificially created by the government. It is the key concept in free market tradition and classical liberal explained differently by different people. However, Hayek has explained the term as more creatively designed efficient market economies than any societal design could achieve (Petsoulas, 2001 – pp.2). This view is pointing towards the fact that market economies are emerged naturally from the business services and the individuals involved in the buying and selling of these goods and services to form and distribute them accordingly depending upon the individual decisions. Such economies cannot b e designed and created by any society manually. The idea of â€Å"Social justice† refers to the equal distribution of rights and duties among all individuals present within a given system. It is the key concept that is supportive of human rights and aims to achieve all aspects of a social system including the administrative law. A social system is said to be â€Å"just† only when all rules and regulations are abide equally by all the individuals present in it. Fair treatment should be attributed to all individuals and groups to promote the basic concept of merit. Distribution of costs and benefits should be equal among all without any favor. According to the Hayed, the social justice is nothing but a â€Å"Mirage† (Routledge and Paul, 1982). Hayek has referred to the social justice as the â€Å"worst use of word social† and it indicates a â€Å"semantic fraud†. Hayek has noticed that the term has "already distorted the thinking of a younger generat ion," citing David Miller's recent Oxford doctoral thesis, titled as "Social Justice.† (Routledge, 1988, pp.114-118) All the above evidences show that Hayek was not supportive of the idea of social justice because he viewed that the economic reward system is the result of unplanned market economies that arises from the individual actions and decisions. Such system occurs naturally as a result of spontaneous order rather than being created manually then there is no need to think about social justice or injustice as every individual has been assigned a particular place and position within the society and is working under the command of some central authority that directs them. Hayek was of the view that the spontaneous order comprises of individuals and organizations than there is no need of social justice (Hayek, 1993, pp.46). Spontaneous order aims to correct the errors that are residing within a given social system and help the individuals to struggle and meet their desired e xpectations. It plays a key role in building social relationships. Hayek has put forth the idea that a centralized legal system would not be able to enhance the effectiveness of social justice or well being as â€Å"only human conduct can be called as jus or unjust† (Miller, 1976, pp.17) (Macleod, 1983, pp.557). The economic systems are too complex to be regulated in any centralized legal direction (Hayek, 1973, 1976, 1979). Hayek has simply rejected the idea of the prevalence of social or distributive justice within the spontaneous o

Dessisons Thesis Statement Essay Example for Free

Dessisons Thesis Statement Essay One of the 6 decisions is friends. Friends can help you graduate from high school as well as prevent you from graduating as well. It could be just as bad having no friends as having the wrong kind of friends. Three reasons are you if you have smart and good friends you have a much higher chance of graduating, if you have bad friends that are always getting in trouble then you have a low chance of graduating or being successful in life, the last reason is having no friends could be as bad as having the wrong friends. If you have smart friend’s chances are you will do better in school and be successful in life. One reason is your friend won’t call you asking you to come to a party or go to the mall when you need to study because you most likely will be studying too. Another reason is they will get you into good habits like studying instead of bad habit like drugs and skipping school. The last reason is there might be a little friendly competition between you and your friends about grades and test scores. Those are three reasons why having smart friends can help you graduate and be successful in life. If you have bad friends that always get in trouble and do bad stuff then chances are you will do the same and do poorly in school and not graduate. One reason is they get you into bad Habits such as drugs, partying, and skipping school. Another reason is they will call you and tell you to come to a party while you’re trying to study and if you don’t go then they might make fun of you. The final reason is they will want you to skip school which will mean missed assignments which will make your grades go down which will make you do poorly in school and maybe not graduate. Those are three reasons why having bad friends who get in trouble can prevent you from doing well in school. If you have no friends it could be just as bad as friends that get in trouble. One reason is other kids might bully you which could make yourself esteem go way down which might make you care less about school. Another reason if you need help with homework you won’t have any friends to call for help. The final reason is if you’re having family problems you won’t have someone to talk to and help you get passed it and focus on school some again. Those are the three reasons why having no friends could be as bad as having fiends that get in trouble. Those are the three main reasons why friends can help you or prevent you from graduating high school and be successful in life. So make the choice keep partying and sliding by in school or have smart friends and fly right through school and graduate and have a successful life and provide your kids with a good life as well. You can do well in school and still have fun because your parents might give you more responsibility and let you do what you want more. So the best choice is have good, smart friends. But it’s your choice.

Accounting Report Essay -- GCSE Business Marketing Coursework

Accounting Report Anyone considering accounting needs to assess whether this career fits his or her interests, abilities, and aspirations. There are certain qualities and qualifications, however, that a person should consider before making a commitment to a particular career field. Selecting a career can take a lot of time, and many people do not choose until they are adults. Contributing to the difficulty in choosing a career is the vast number of vocations from which to choose. The field of accounting alone covers dozens of types of accountants and dozens of jobs. In trying to decide whether accounting is an appropriate career choice, a person should talk with bookkeepers and accountants that have years of experience. Ask questions about their daily work requirements, their likes and dislikes about accounting, and how they became interested in the profession. Questions such as these can give a person insight into the profession and help in considering accounting as a career. Accounting is a system used to provide financial information about a business or person. Accountants prepare and analyze financial records for individuals, companies, governments, or other organizations. Accounting is a basic need for every business, and the term business has been broadened to mean any operation that deals with money. That includes families and corporations, and also schools, theaters, art galleries, charitable organizations, and even some private persons. People sometimes call accounting â€Å"the language of business† because accounting data are used to detail firms activities. Accounting tells the history of a business or person in numbers. Over one million people are employed as accountants, and most can be found in private business and industry. â€Å"Nearly 40 percent of all accountants are certified, and about 10 percent are self-employed’(Caruna, 1). In addition to openings resulting from growth, the need to replace accountants who retire or transfer to other occupations will produce thousands of job opening annually in this large occupation. The Occupational Outlook Handbook states that the expansion of accountants is related to: â€Å"increasingly complex taxation, growth in both the size and the number of business corporations required to release financial reports to stockholders, a more general use of accounting in the management of business, and outsourcing of a... ...anning and control. â€Å"Other examples of consulting projects of CPA firms are: advising and developing a system for a stock exchange, assisting a new integrated financial management system for New York City, and helping several major railroads with resource planning† (Rosenthal, 22). A career in management consulting offers the opportunity to work with a company’s executives in applying the concepts of modern management and information technology. The final level of entry into public accounting is entrepreneurial services. In the book Careers in Accounting, it says that working in the entrepreneurial field â€Å"is a fast-growing and dynamic area that has been formed in most large firms in the last few years† (5). The person working in this area deals with the special requirements of a startup or growing company. Professionals in this group are involved in counseling and advising the emerging or middle-market company that may lack the resources to successfully handle planning, cost control, attracting capital, going public, or choosing the right information system or compensation plan. Audit, tax, and management consulting skills are all used to fill the needs of an emerging business.

Debt Policy at Ust Inc.

Executive Summary Holding nearly 80% of the market share in the smokeless tobacco industry, UST Inc. has been generating large and stable income. However, the leading company in a certain industry tends to react slowly to market share erosion by competing firms and lack of creativity in the introduction of new product, a situation UST Inc. is now undergoing. Concerning the declining sales growth and gradual loss of the market share, UST Inc. is now considering recapitalizing by issuing debt amounts to $1 billion.By recapitalizing, it can create a total $380 million interest tax shield to add up firm value and, at the same time, make shareholders better off by using the proceeds from the issuance of debt to buyback outstanding shares. Although declining sales growth and litigation problem might be hidden concerns for UST Inc. , after some analysis about the attributes of the company such as business risk, capital structure as well as payout policy, I still believe that UST Inc. s head ing toward the right direction. And we can also observe that, after the adjustment of capital structure, its traditional dividend payout policy will not be hampered in the near future. Analysis of Business Risks (from bondholder’s viewpoint) Bondholders only care about the ability of the company to make interest payments and whether they can get the face value when the bond matures. Therefore, we have to consider the factors that contribute to the amount and stability of future EBIT.In the situation of UST, several factors have more of an impact on the company’s business risk, such as sales growth, competition faced owing to other competitors’ erosion into their market share and the effect of litigation problem and government regulations. Since the smokeless tobacco are considered less harmful to health and increased prevalence of smoking bans, demand of smokeless tobacco has undergone a continued growth, which would contribute good prospect to UST since its pro ducts strategy focus primarily on smokeless tobacco.However, as a dominant player in the industry, UST seems to be less creative on the introduction of new product and react too slowly to other competitors’ erosion into their market share. So far, UST has been increasing the price of their product as a way to boost their annual earning, which gives other players a perfect chance to gain some market share by using price value strategy. Despite the steady decline of market share might turn into future concern for UST, it still holds 77% of the market share. Besides, UST has started to make effort in new product development and renew their marketing and promotion strategy.On the other hand, although litigation and legislation problems have impacts on sales of UST, these problems has been there for a long time, which means that it shouldn’t create new turbulence on the prospect of UST. To conclude, the attributes of UST are steadily growing EBIT(approximately 9% compounded ), dominant market share in the industry. Therefore, although there are some disadvantages toward their future earning power, such as increasing competition and litigation problems, bondholders shouldn’t care too much on them since the interest expense is still a minor portion of the total EBIT.The Timing of Recapitalization It is publicly known that, through leverage, companies can lower their WACC and receive benefit from interest tax shield in order to boost their firm value. This is exactly what UST Inc. is doing right now. By issuing debt and use the fund to buy back outstanding shares, it is boosting their stock price higher. I reckon that the reason they choose to do so at this specific time is because the company has been facing more and more vigorous competition these years and undergoing declining rate of sales growth.By adopting leverage recapitalization, UST can still make the stockholder better off even its sales growth is not high enough. Besides, UST’s d ebt to asset ratio is currently at a low level compare to other competitors in the industry. Therefore, they can adopt the recapitalization strategy without worrying too much about the default risk problem. Capital Structure after the Recapitalization From the pro forma income statement (exhibit 1) in the appendix, we can see that even if the bond is issued at a rating of BBB (higher cost of debt), the EBIT/interest coverage ratio is still 10. 21, which shows that UST as sufficient amount of EBIT to make the interest payments. And the marginal effect on UST’s firm value would be the total debt ($1 billion) multiplied by the corporate tax rate (38%), which is $380 million. Dividend Payout Policy From Exhibit 2, we can observe that, under current condition, the payout ratio is around 63%, which is the percentage UST has long been paying out in the past. Therefore, it is safe to draw the conclusion that the recapitalization will not hamper future dividend payment under current c ondition. However, we are not sure whether the market share and the growth of sales will continue to drop.If they do, it will become more and more difficult for UST to stick to their traditional â€Å"pleasing† payout policy. Likely, we are not sure whether the litigation problem will be more of a concern for UST in the future. Ultimately, despite the fact that the opponents’ erosion into UST’s market share and litigation problem are both hidden concerns, it takes time for both problems to pose a threat to UST’s traditional payout policy. Appendix Exhibit 1 Pro Forma Income Statement Exhibit 2 Dividend Calculation after the Buyback Program Corporate Finance Case Study Assignment Debt Policy at UST Inc. Debt Policy at Ust Inc. Executive Summary As the leading manufacturer in the moist smokeless tobacco industry, UST Inc. has long been recognized by its ability to generate high profit using low financial leverage. With a dominant market share of 77%, the company maintains a pricing power that allows it to institute annual price increases without losing costumers. However, UST’s market share was eroded significantly in recent years by price-value competitors who enter the market with lower prices. Although UST responded to these threat by introducing new products, market share still decreased by 1. 6% over past 7 years.In addition, UST is also exposed to an unfavorable legislative environment, in which the company is under advertising and product promotion restrictions. The increasing business risks force management of UST to consider a recapitalization plan in which UST borrows up to $1 billion to repurchase its stocks. The marginal effect of the recapitalization will be a $380 million increase in fi rm value, which is the present value of interest tax shield. Besides the recapitalization benefit, management also needs to notice the costs of recapitalization, which include higher bankruptcy costs and a potential of lower credit rating.UST has a high and constant dividend payout history since 1912. The recapitalization will expose more risks to shareholders since revenues will be used to pay interest before pay dividends. Thus, the recapitalization may hamper future dividend payments. Background Having long been the leading company in the moist smokeless tobacco industry, UST Inc. was famous for its product innovation, dominate market share, and pricing adjusting power. However, as the competition of the moist smokeless tobacco industry became more intense and the legislative environment became more unfavorable, UST is facing several business risks: . Lose of market share. Relying on its superior products and innovation ability, UST used to control most of the moist smokeless tob acco market and was able to increase the price of its products year by year without losing its customers. The historical pricing flexibility gave UST a robust earning performance and bumped up its stock prices. However, as the speed of product innovation became slower, UST is facing the threat of price-value competitors, who enter the market by charging a lower price. Although later UTS responded to the threat by introducing new products, the company’s market share still dropped from 86. % in 1991 to 77. 2% in 1998. 2. Increase exposure to legislative environment. Moist smokeless tobacco manufactures used to face fewer lawsuits than cigarette manufactures due to less scientific evidence liking smokeless tobacco to cancer. However, the legislative environment has become more unfavorable to smokeless tobacco manufactures since the industry has agreed on a ban on advertising in order to settle state Medicaid lawsuit. Also, UST was the only main manufacturer that signed an agreem ent on promotion restrictions that aim to reduce youth exposure.Recapitalization UST has been widely known for its conservative debt policy, which allows the company to generate high returns with very low financial leverage. However, as business risks such as market share erosion and unfavorable legislation exposure increase, UST has an incentive to change its capital structure in order to benefit from interest tax shield and maximize the firm value. Recapitalization will also benefit shareholders in a way of higher company stock price since the proceeds from debt will be used to repurchase outstanding stocks.Also, although UST has a very high gross profit margin and return on assets on its core business compared to other smokeless tobacco manufactures, the poor performance of its non-core operations such as market wine and premium cigars give UST a low to zero profit contribution. UST’s management needs to diversify its product line and bump up earnings by investing more in the non-core operations using debt funds. Marginal Effect of Recapitalization To analysis if UST should undertake the $1 million recapitalization, management needs to calculate the value of the firm before and after ecapitalization. In a market with taxation, the value of the levered firm equals to the value of the unlevered firm plus the present value of interest tax shield. Because management assumes that the new debt is constant and perpetual, the present value of interest tax shield equals to the amount of debt multiplied by the effective tax rate, which is 38%. Thus, the present value of UST’s future tax saving should be 38% * $ 1 billion, which is $380 million. At the end of 1998, the market equity of UST was $6,470. 8 million based on the average shares outstanding and year-end stock price.If UST borrows $1 billion debt immediately, the total value of the levered firm would be $6,470. 8 million unlevered value plus $380 million tax shield, which is $6,850. 8 million. B ecause firm value will rise to $6,850. 8 million immediately after the recapitalization announcement, original shareholders will capture the full benefit of interest tax shield since they are able to sell their stocks at a higher price. The new stock price is determined by dividing the value of the levered firm by the number of shares outstanding at the end of 1998.Since there were 185, 516,055 shares outstanding at year end 1998, the new stock price after the announcement of recapitalization would be $6,850. 8 million divided by 185, 516,055, which is $36. 93. Compared to the original stock price of $34. 88, each pre-existing shareholder will benefit $2. 05 from the increase in leverage. If taxation is the only issue that management should take into consideration, the marginal effect of raising debt will be increase in company value by $380 million.However, as financial leverage increases, default risk on debt also increases, thus leads to a potential increase in bankruptcy costs. UST has been maintained an A-1 credit for its low debt / capital ratio of 28. 2%, which is a competitive advantage over its competitors who are highly leveraged. If UST decides to increase its leverage ratio, it will cause rating agencies to revalue its capital structure and cash flow generating ability in order to assign an appropriate rating.The potential change in rating will significantly affect UST’s cost of capital. Thus, management should balance the tax benefit with the expected cost of bankruptcy to maximize form value. Besides its conservative debt policy, UST was also famous for its stable and constant dividend payout since 1912. The recapitalization may hamper future dividend payments since earnings should be used to pay off debt and interest expense before they are delivered as dividends to stockholders.Because debt is risk-free and debt holders have first claim on a company’s asset, levered equity often carries a higher risk premium than unlevered equity to compensate stockholders. The remaining balance of earnings after paying interest may also be retained for operating purpose. Thus, the possibility of an interruption of cash dividends payout may occur. Summary In summary, facing the increase business risks of losing market share and exposing to unfavorable legislations, the management of UST Inc. s considering changing the company’s capital structure by raising $1 billion debt and accelerating its stock buyback program. The benefit of recapitalization will be an increase in firm value of $380 million and increase in stock price by $2. 05 each share. However, management should also take into consideration the potential increase in bankruptcy costs and changes in credit rating. Last, the constant divided payout may be hampered by recapitalization since earnings need to be used to pay interest to debt holders first.

Ways to achieve financial goals - Free Essay Example

Sample details Pages: 11 Words: 3218 Downloads: 3 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Level High school Did you like this example? 3.0 Ways to Achieve Financial Goals 3.0.1 Part-Time Job Since we are having negative value for net worth, we can do some part time job while we are still studying in Utar. There are a number of restaurants, Cafe, and some other shops around Kampar area are recruiting part-time workers. That is a good opportunity for us to apply for a part-time job there. Besides, we can become a tuition teacher who guides primary and/or secondary school students in their studies. By becoming a tuition teacher, we can contribute our knowledge to this society at the same time gaining experiences as well as extra income. In order to become tuition teacher, we can apply for it in Kamparà ¢Ã¢â€š ¬Ã¢â€ž ¢s tuition centre. Not only that, we can utilize our skills in musical instruments and open music class to those who are interested. Many students who pursuing their studies in Kampar think that Kampar is a small town which lack of entertainment centre and some of them might not have idea on how to spend their free time in a beneficiary way. Regarding this, music class might attractive to some of them. By doing part-time job, we will have a more stable cash flow. By having stable cash flow, it takes lesser time for us to pay off our debts and reduce our financial stress after we graduate from Utar. (Greaves, n.d.). Moreover, we will get the network opportunities if we do some part-time job. Part-time job enables us to develop network connections. We can meet a reference, great friend, connection or even obtain full-time job after we graduate from Utar if we able to perform well when we are still a part-time worker. (Greaves, n.d.). Apart from that, we may enjoy employee benefits by committing ourselves as a part-time worker. Even if we are not eligible for full health benefits, we might obtain the privilege of perks or staff discounts. Other staff benefits include food, discounted tickets, merchandise and etc. (Greaves, n.d.). Different working pla ce offers different staff benefits. We can also do some research regarding the staff benefits offered by different shops or companies before we apply for a part-time job position. In addition, we will be able to gain more working experience by having part-time job. As many of the employers concern about our working experience before we get employed, the working experience as part-time worker enable us to stay higher chance to get a full-time job after we graduate. Speci ¬Ãƒâ€šÃ‚ cally, it has been proven that practical skills, communication skills, team building skills and customer care can be developed through taking on part-time job (Lucas and Lammont, 1998). Watts and Pickering (2000) found that part time job leads to improvement in personal transferable skills, employability, and increase in con ¬Ãƒâ€šÃ‚ dence level. 3.0.2 Scholarship and PTPTN Repayment Exemption Since we can obtain scholarship or even exempt from PTPTN loan repayment if our academic result meets the required level, we should study smart all the time in order to achieve excellent result. If we able to exempt from PTPTN, we can achieve our financial goal in a shorter time. To become a first class honour, we should study hard, but more important is study smart. A well-organized time management is needed. We should have a schedule that suitable to us and follow it all the time. As a university student, self-learning is important. However, in some cases, we need to be assisted or guided by our lecturers or tutors. Not to feel ashamed to ask questions is a key point to gain more knowledge. To become a first class honour, one must do what others not willing to do. Ità ¢Ã¢â€š ¬Ã¢â€ž ¢s not just about spending time in studies, healthy life style need to be developed. Scholarship is a very good source of financial support since we are using othersà ¢Ã¢â€š ¬Ã¢â€ž ¢ money and we donà ¢Ã¢â€š ¬Ã¢â€ž ¢t need to use our savings in some of the expenses. Other than usi ng the funds to pay tuition fees, we can also utilize the funds in other expenses, such as paying rental fees, buying foods and purchasing books. By having scholarship or exemption of PTPTN repayment, our resume will be more outstanding. When our academic achievement has been recognized, we stay a high chance to be shortlisted for interview session. Ità ¢Ã¢â€š ¬Ã¢â€ž ¢s not easy to obtain a satisfying job, however, if we have plenty of qualifications and achievements, it will be much easier for us to get our dream job. 3.0.3 Employee Provident Fund (EPF) In Malaysia, Employee Provident Fund (EPF) is a compulsory savings scheme. In Malay term, EPF is known as KWSP or Kumpulan Wang Simpanan Pekerja. Every wage earner in Malaysia who has reached the age of sixteen and obtain a job under contract must register and own the Employee Provident Fund account. Since all companies are legally required to offer workplace insurance as well as monthly retirement fund contribution to the ir full-time staffs, EPF is a significant criterion that needs to be considered when we are offered a job. We should contribute to the Employee Provident Fund (EPF) before starting our first job. Conventionally, employers are responsible for their staffsà ¢Ã¢â€š ¬Ã¢â€ž ¢ EPF registration but at the present time new applicants are required to register the account individually. To prevent unnecessary hassle, the EPF account should be registered before our new job starts. EPF provides some benefits to its member, including retirement benefit, incapacitation and death benefits, dividend, and tax exemption. It is a significant tool for our retirement planning. EPF ensures a favourable growth in our money due to the tax free interest as well as the maturity. In long term, the accumulated funds help us to achieve our retirement goal. In addition, EPF able to help us to fulfil other goals or provide financing for us in case we are in need of funds urgently. EPF delivers benefit for p atients who are going to have major surgical operation in hospital. The benefit also applicable to those who suffering from the following diseases: paralysis, TB, cancer, leprosy, heart ailment, or mental derangement. Patients are allowed to withdraw six times of their wages or the entire contribution made till date, whichever is less. The funds are applicable for treatment of the EPF member or his/her family member. In addition, EPF provides many other benefits. To those who are physically handicapped due to natural disasters, they can make use of the funds to purchase equipment. EPF member can also have a facility of putting forward family members to obtain funds after he/she demise. EPF holder needs to mindful that withdrawing EPF after changing job is legal only whilst he/she is jobless for two months or above. (Solanki, 2012) Apart from that, EPF member can withdraw funds from the EPF account for construction of house, maintenance or repair service or for repayment of housin g loan. For all the benefits mentioned, organization has specified some conditions that need to be followed. If the EPF member given a housing loan and hope to repay, then he/she can make use of up to thirty-six months salary from his/her EPF balance in case the EPF member has completed the service for ten years. Likewise, EPF members are allowed to withdraw up to twelve months salary (only once) if their existing house is subjected to maintenance or repairing. For this five years of service (ten years for repairing) should have completed.The number of years of services decreases to five years if EPF member hope to purchase or build anew plot or house. The EPF holder can withdraw up to thirty-six months wages (twenty-four months for plot) but it can only be withdrawn once. It is very nice that the house can be in the name of the EPF memberà ¢Ã¢â€š ¬Ã¢â€ž ¢s spouse or in joint-ownership. (Solanki, 2012) Moreover, EPF can also help us to achieve other goals, such as marriage, fina ncial needs for education for ourselves, any sibling or child. If we have to assemble funds for any of the goals stated above, we can withdraw funds from our EPF account up to fifty percent of our contribution. In addition to this, we can enjoy this benefit up to three times in our life. (Solanki, 2012) Furthermore, insurance benefit can be obtained through EPF. In accordance with Employee Deposit Linked Insurance (EDLI) scheme, any institution that do not provide group insurance scheme for their employees has to contribute .5% of monthly basic pay as premium for the life insurance cover. Presently, the amount of insurance cover is higher of the two: twenty times the average salary of the past twelve months or the full amount in the PF account up to forty percent of the balance amount. For those who are working in small enterprises, the funds are more than enough for them to support the family survival. (Solanki, 2012) 3.0.4 Fixed Deposit Fixed deposit also known as term de posit or time deposit. It is a safety approach to gain more interest or return. That is because the principal and interest accrued is protected by PIDM. Normally, the tenure of the fixed deposit is ranging from 1month to 60 months. Depositors who place their funds in this account cannot withdraw it within the tenure. If not, the bank will impose the penalty on the depositors which will lead the depositors to loss the interest earned (Banks, n.d.). According to the information provided by Maybank and Public Bank, depositors is required to place a minimum of RM 5000 for 1-month fixed deposit. For the tenure that is 2-months and above, minimum of RM 1000 in fixed deposit account is required. There are plenty of benefits by placing money into the fixed deposit account. First of all, the interest rate earn on this account will be higher than a normal saving account. The interest rate will be higher when the tenure is getting longer. According to the Maybank Fixed Deposit Account, thei r interest range is from 3% up to 3.5% per annum. While the interest rate of a saving account only offer about 2.1%. Another way to get higher interest rate return is to open a joint venture account with parents (or transfer funds to their account) who are at least 49 years old and above. Then, apply for the fixed deposit account trough this joint venture account (or their account). This is because banks will provide higher interest rate for those senior savers. So, we may get a larger amount of interest earn. Besides that, fixed deposit account is completely risk free because our funds are protected from interest rate fluctuation, the interest earn is fixed on a certain rate when we are entering into this account (Gilani, n.d.). So, it is a safer investment and easy to set up compare to stocks, mutual funds or property. According to Mkumar, the fixed deposit account can be pledge and get a loan at lower interest rate. That is because the banks belief the depositor who has str ong base of investment. So, they are easier to get a loan with lower interest rate. This may help us to reduce the interest rate payment in the future when we apply for a hire purchase or a housing loan. 3.0.5 Setting Up an Online Business Nowadays, it is very easy for a person to set up an online business. Many students and housewife are selling products through social media, for example, Facebook, We Chat and Line. The products that are selling online normally included clothes, shoes, bags, purse, jewellery, and baby accessories. Before setting up an online business, we need to find the suppliers that can give us good quality products with reasonable price. When we are selling the products with good quality at reasonable price, our customer base definitely will become larger. The main benefit of online business is it can save our money and time (Mior111, 2008). An online business just needs to start by having a laptop or pad with internet access. We can share the photo of the product along with its characteristics trough social media easily. We can promote our product by clicking on the laptop and no need to distribute the flyer or brochure door to door. Advertising the products online not just cost and time effective, it allow us to reach more customer in different geographical area (Henderson, n.d.). Besides, the working time of online business is flexible (Mior111, 2008). We can manage our business after class or during break, at the campus, hostel or cafÃÆ' ©. We can work at anytime and anyplace with internet access. We do not need to rent a stall to sell our product. So, online business is more suitable for a student than having a stall. Moreover, we may earn more than a part timer, if we manage our business very well. The money that we earn not just depends on the cost of the product, but also depends on how much effort we putting on it. The more effort we put, the more we may earn. According to an example in the Facebooker, as a succ ess online business person, she may earn more than thousand per month. While a part timer salary is about RM 400 per month in Kampar area. So, this is a better way if we do not want to work as a part timer. 3.0.6 Invest in Bond or Stock i) Bond According to Investopedia and Investor Words, bond or debt is an investment that the investor loan their money to the company or government for a fixed period of time and in return with a fixed interest rate. The interest payment also called coupon payment, usually paid in semi-annually. The participants in bond market included company, municipality, state, local and foreign government. These participants may use this bond to finance their activities as well as their projects. There are varieties of bonds available, such as corporate bond, municipal bond, Treasury bond, note, and bill. The maturity of a bond is depending on the type of bond. Normally, corporate and municipal bond will have 3-10 years maturity, while Treasury bill wil l have 90-days maturity. Basically, invest in bond will be safer than invest in shares. This is because bond will pay a fixed return every six months while share only pay dividend when the company make a profit. Besides, bondholder has the right to claim their money back prior to shareholder when bankruptcy happens (Sifma, n.d.). So, the principal of the bondholder is safe. But before investing in the bond, we must examine that the bond is not junk bond, because this bond will make us to loss money instead of earning profit (Investopedia Staff, n.d.). Moreover, invest in bond is better than just saving the money in a saving account. Bond will give a higher interest return than a saving account. So, it is better for us to allocate some of our money into the bond when the money is not being use in that period of time. Without posing too much risk, it will gain a high return compare to save in the bank (Investopedia Staff, n.d.). ii) Stock The holder of stock or equity is r epresenting an ownership to the company. They have the right to claim on the assets and profits of the company. We can either choose to invest in common stock or preferred stock. Preferred stockholder has the priority to claim on the assets and profits, but has no voting right. While common stock has the right to vote at the meeting. Common shareholder will claim after the preferred shareholder when the company going bankrupt (Investopedia, n.d.). Normally they claim nothing because all the assets or money are claimed by bondholders and creditors (Learning Bonds, n.d.). Stock does not promise about the returns, it is solely depend on the growth of the company and the stock price (Investopedia Staff, n.d.). If the company make a loss during that period, common shareholder may not receive any dividend. But if the company performing very well, shareholder may gain a lot of bonus or dividend compare to invest in bond (Learning Bonds, n.d.). The bonus can in term of cash or free share s (Holyguy, 2011). So, the best way to gain more profit to achieve our financial goals, we should invest in both bond and stock market. This is because we can diversify our investment by allocating some to bond market to ensure a fixed return while allocating some to share market to gain a higher return (Investopedia Staff, n.d.). Diversification helps us to spread all the risk by investing in different market. Hence, we are not just focus on a single investment (Learning Market, n.d.). So, anything happen, we may not loss all the money. References Banks. (n.d.). Advantages and Disadvantages of Term Deposits. Retrieved 13 July, 2014, from https://www.banks.com.au/news/advantages-and-disadvantages-of-term-deposits/ Barron,P., Anastasiadou,C. (2009). Student part-time employment : Implications, challenges and opportunities for higher education. International Journal of Contemporary Hospitality Management, 21(2), 140-153. EPF Benefits As An EPF Member KWSP. (n.d.). R etrieved from https://www.kwsp.gov.my/portal/en/members/member-responsibility/registration/benefits-as-an-epf-member Gilani, N. (n.d.). The Advantages of Fixed Deposits. Retrieved 13 July, 2014, from https://bizfluent.com/info-8454481-advantages-disadvantages-fixed-deposits.html Greaves,M. (n.d.). 6 Benefits Of Having A Part-Time Job At School | TalentEgg Career Incubator. Retrieved from https://talentegg.ca/incubator/2013/08/26/6-benefits-of-a-having-a-part-time-job-at-school/ Henderson, K.J. (n.d.). Advantage of Using the Internet for Business. Retrieved 14 July, 2014 from https://smallbusiness.chron.com/advantages-using-internet- business-320.html Holyguy. (2011). Advantages and Disadvantages of Investing in Shares. Retrieved 13July, 2014, from https://holyguy.hubpages.com/hub/advantages-and- disadvantages-of-investing-in-shares Investopedia. (n.d.). Bond. Retrieved 13July, 2014, from https://www.investopedia.com/terms/b/bond.asp Investopedia. (n.d.). Stock . Retrieved 13July, 2014, from https://www.investo pedia.com/terms/s/stock.asp Investopedia Staff. (n.d.). The Advantages of Bond. Retrieved 13July, 2014, from https://www.investopedia.com/articles/00/111500.asp Investopedia Staff. (n.d.). What are The Advantages and Disadvantages of Buying Stocks Instead of Bonds. Retrieved 13July, 2014, from https://www.investopedia.com/ask/answers/124.asp Investor Words. (n.d.). Bond. Retrieved 13July, 2014, from https://www.investorwords.com/521/bond.html Learning Markets. (n.d.). Benefits of Investing in the Stock Market. Retrieved 13July, 2014, from https://www.learningmarkets.com/benefits-of-investing-in-the-stock-market/Sifma. (n.d.). Types of Bonds. Retrieved 13July, 2014, from https://www.investinginbonds.com/learnmore.asp?catid=5subcatid=19id=1 91 Lucas, R. and Lammont, N. (1998), à ¢Ã¢â€š ¬Ã…“Combining work and study: an empirical study of full time students in school college and universityà ¢Ã¢â€š ¬Ã‚ , Journa l of Education and Work, Vol. 11 No. 1,pp. 41-56. Solanki,J. (2012). The various benefits of your Employee Provident Fund Moneycontrol.com. Retrieved from https://www.moneycontrol.com/news/investing/the-various-benefitsyour-employee-provident-fund_775030.html Maybank. (2014). Fixed Deposit Account. Retrieved 13 July, 2014, fromhttps://www.maybank2u.com.my/mbb_info/m2u/public/personalDetail04.do?c hannelId=ACC-AccountscntTypeId=0cntKey=ACC03.01programId= ACC03-FixedDepositAccountschCatId=/mbb/Personal/ACC-Accounts Mior111. (2008). 5Advantages of Online Business vs Offline Business. Retrieved 14 July, 2014 from https://webcache.googleusercontent.com/search?q=cache:https://webonline.com.my/news/2008/07/5-advantages-of-online-business-vs- offline-business/ Mkumar. (2013). Benefits of Fixed Deposits. Retrieved 13 July, 2014, from https://forums.bankbazaar.com/discussion/285/benefits-of-fixed-deposits Public Bank. (2014). PLUS Fixed Deposit Account. Retrieved 13 July, 2014, from https://www.pbebank.com/Personal-Banking/Banking/Deposit/Fixed-Deposit- Acounts/PLUS-Fixed-Deposit-Account.aspx Watts, C. and Pickering, A. (2000), à ¢Ã¢â€š ¬Ã…“Pay and you learn: student employment and academic progressà ¢Ã¢â€š ¬Ã‚ , Education and Training, Vol. 42 No. 3, pp. 129-35 Don’t waste time! Our writers will create an original "Ways to achieve financial goals" essay for you Create order