VoIP at Butler University

Butler University identified weaknesses in the existing campus communication systems. Chief Information Office (CIO) Scott Kincaid's identified the need to upgrade or replace the Centrex system as Butler student enrollment and administrative data communication needs had outgrown its usefulness. Arguments for the Centrex system were that users found the system reliability to be beneficial. Once employees have a system that meets their current needs, some are reluctant to go embrace the next step to enhancing Job capabilities.The majority of students liked having campus rovided email even though 92% had cell phones. Various problems were associated with the existing system but it was not without failure. For no other reason than advances in technology, the current analog system had become outdated and hard to customize. Moving lines was labor intensive with student and administrative shifts. Changes become labor intensive and difficult to perform because not only is the hardware diffic ult to repair, at a certain point the system will be so antiquated that it won't be compatible with new vendor technology upgrades outside of Butler.A large amount of administrative time was spent reconciling the current billing system each month showing that again unnecessary labor was a hindrance to efficiency. Changes aren't without risk and administrative staff viewed merging data and voice networks was viewed as risky. A major concern was regarding the voice quality of VoIP technology. The IT department also knew that network security risks were a concern addressing other data network risk concerns post 9/1 1 . An efficient and flexible integrated emergency notification system was required to remedy this concern.Campus administration also feared virus attacks that commonly affected data networks. Unified communications is a term used to describe a system that integrates call and data communication applications that are interactive and collaborative with real- time and transacti onal capabilities. Butler hired the Dietrich Lockard Group, a telecommunications-consulting firm, to address the primary issues and needs of the university and to recommend a unified communications solution.To pinpoint the real needs of the university, Dietrich formed an advisory group comprised of dministrative staff from a variety of departments around campus who required a high-level of data usage and accuracy from the system. Those departments were admissions, financial services, student life, facilities management, the libraries, and department faculty. The advisory group and technical staff were taught about VoIP and steps that can be taken to mitigate its risks.The strategic plan involving integrating these five goals: improve student communications, improve handling of callers, leverage new services to assist staff and improve training on these systems, emain competitive with other institutions regarding the level of student services offered, and to provide more immediate ac cess to key Butler personnel. The options presented to Butler were to continue with the existing systems and make no changes. Many people find the system reliable.Another solutions would be to continue upgrading the existing system and equipment. Although expensive, IT staff was familiar with the system and, while difficult, upgrades were possible – at least in the system and integrate and independent VoIP for a few selected offices. This would llow Butler to make a small-scale technology change without compromising the entire communications network. The last and most expensive option is to acquire a new in-house PBX system for unified communications.The concern with this option is if Butler were to invest in a new PBX system would it have a limited life? With Dietrich's guidance, Butler drafted an RFP and put the project out for bid. Vendor selection would be based on the an analysis of the variables effecting choices, the vendor's ability meet the universitys needs as defin ed in the RFP, cost, availability of ocal support once the network was installed, and the vendor's experience with new VoIP and other enterprise systems.A vendor was selected and a very aggressive implementation schedule was initiated. Staff and students found the changeover simple and the pilot program made training fun. The IT department described the changeover as the â€Å"week from hell†. Phone system registration was labor intensive when each needed to be registered manually. Other problems were malfunctioning equipment, the 2,000 additional phone numbers provided by SBC came up missing nd required a 45-day window to fix the problem and food service and the bookstore didn't have Ethernet wiring.The biggest problem was that department safety alarm wiring was not compatible with new VoIP and the old system needed to be recreated to make them work. My concern with the alarm system was based on 1970's technology and should have been updated. I would consider the upgrade to be a wise decision on Butler's choice. Analog systems are antiquated and had they not made the change now, it may have been more costly in the future. Technology ntegration with outside source such as telecommunications companies and software support for financial and accounting systems.Any department that required data sharing and collaboration, mixed media messaging was at an operational risk had the change-over not been implemented. By converging systems for a unified communication solution, Butler had taken the proactive approach. It wasn't without unanticipated costs – a new IT staff position was created, and the unforeseen costs to the department alarm system and Ethernet cabling to food services and the bookstore were substantial. What Butler gained was collaborative applications, improved communications and convenience.Having a different call centers around campus, Butler could now examine call records and identify inefficacies within a specific area. The economy of i mproving these areas will be cost and improved university services. I believe Butler made the correct choice in moving forward with a new system. The only fault I found was in their not revamping the existing alarm system. The problems experienced during the changeover were minimal and solvable without reconstructing the plan. Again, a solid strategic and farsighted plan.

Job as a Child Protective Investigator (CPI)

I will be talking about my current job as a Child Protective Investigator (CPI) also known as Child Protective Services (or CPS). This is the governmental agency that is tasked with investigating child abuse or neglect. The primary concern of a CPI is the safety of the child; they do this by assessing the risk involved. By weighing that risk the CPI has to make the decision rather to remove the children or child from the home or place services within the home that will allow them to function as a family in a more productive manner.Once the CPI has made the decision to remove the child or children, the next step in the process is find and create a plan that will eventually return the child to a more proficient and safer family environment. The CPI will assign the family to a caseworker who is tasked with developing a plan to administer to the parents that will educate them on better ways to care for the children and meet all their needs, and create and environment free from abuse or n eglect.CPI’s deal with a variety of families, with different backgrounds, values, religions, cultures and beliefs, which have a bearing on the way they parent; this means that CPS has be flexible and understanding when it comes to dealing with the problems they face within these family structures. The fact is that the American population is continually changing for many reasons such as; ethnically, culturally, racially, and linguistically based on the diverse populations that are a part of the US fabric.CPS organizations must create and implement a better and improving systemic change in order to understand and meet the needs of this diverse population of families. In this ever changing environment CPS must be even better prepared and become an even more effective communicator when it comes to helping and working with our families and providers. I have been working as a CPI for over 2  ½ years and will share with you what I think this organization operates like and what mak es it tick.I will evaluate the Organizational Behavior of Child Protective Services and explain the weakness or strengths I have faced since being a part of this organization. First what is Organizational Behavior? It is defined as the study and employment of knowledge about how people, individuals, and groups act in organizations. Organizational behavior is not the evaluation of how the organization will behave, but rather the evaluation of the people or individuals behavior within the organizational setting. They study the behavior of the individuals as well as group settings.The study and purpose of organizational behavior is for the leaders to gain a better understanding of those things that may change, interrupt or influence individual and sectional dynamics within a company setting so that the organization can become a more effective and proficient business. A large part of organizational behavior is researching and evaluating as to provide leaders with the needed resources, i nformation and tools they will have to have in order to successfully train, select and retain personal in a manner that would benefit both the personal and the organization.Organizational culture is driven by â€Å"competition and a strong desire to deliver results and accomplish goals†. (Kinicki. and Kreitner 2009, pg. 43). I believe that based on the child Protective services (CPS) organizational culture the concept used is the ‘salad bowl’ because of the diversity within the organization. I say this because many of the CPI’s and workers are of different races, cultures, ages, sexual orientation, gender, ethnicity and physical ability. I believe that this diverse culture is very good for this organization it provides a very positive environment which translates into positive productivity.CPI’s use multiple types of strategies and steps to ensure good production and good service. Such as reading the families background if they had a prior case as m any of them do and checking law enforcement reports to see what are the families issues, culture and background prior to going out on the case which will give the CPI a better insight on the type of family and the concerns they are facing. I believe the culture of CPS as an organization is evident by the values, norms, organizational beliefs, goals and many other primary factors. This also relates to all internal interactions and any informal and formal implementation.In CPS there is a strong mutual respect for each other and the CPI’s are supported, encouraged allowed to do what they think is needed to meet the family and organizational goals and to continue to develop and hone their skills in the field. Because CPI’s work primarily alone in the field, they are entrusted with decision-making and execution in the absence of their leaders. Many times the CPI will have to attack a problem and make a decision on the spot and may not be able to get into contact with the su pervisor therefore leaders must have the type of people they can trust and rely on to make the best decision without guidance.In CPS you can see that the organizations culture is evident in their goals, mission statement, integrity, standards, values, and ethics. The mission statement of CPS is to provide proficient, caring and productive services to the protection of children and their families; to seek the improvement and protection of abused children and to seek reunification for the families and provide family the education tools required for the child to remain in the home; and to meet and exceed the needs of the families using innovative and unique products, resources and services.To create and provide an equal, balanced and great place for the CPIs to work and excel. Because of the different cultures and people CPI’s face in this business there are multiple types of communication used and embraced by CPS. CPS uses a variety of both verbal and written communication as f orms of disseminating information throughout CPS. The type of communication that is used is dependent upon the importance of information and how quickly it needs to be provided. Some of these communication devices are: emails, brochures, company websites, meetings, notice boards, letters, telephone, and texting.What the CPS tries to do is to ensure that the communication is always open and that it represents and displays the culture of CPS. Communication devices play a major role in CPS, because many of the families we come into contact with have disabilities which may require a different type of communication, such as sign language interpreters, virtual websites may have to be used because the interpreter may be in another state, like interpreters for people that speak different languages and so on.It is vital to be able to communicate the message you are trying to convey to these families in a manner they can relate to, because bad communication can be destructive to the fabric of this family and there well-being. CPS believes that the key to the success of this organization is to ensure effective leadership and that the leaders have strong leadership, communication, management, and people skills, as well as be compassionate and caring when it comes to child protection.In CPS, the leadership hierarchical of authority flows from the upper management down to the CPI’s and their supervisors. But this process of leadership is of a democratic type leadership because CPI’s and workers have the chance to voice their concerns and participate in decisions making that will affect the organization. But if conflict arises the final decision is made by the supervisors and higher.The higher hierarchical do make the decision on policies and procedures but will usually have meeting and conferences asking the opinions and concerns about upcoming changes, if it is something that is coming down the pipeline that is more of a directive they will try to give the or ganization the time and information needed to prepare for this change in policy or procedures. Leadership tries to work with CPI’s and try and understand what their concerns are as they are the ones dealing with the everyday changes within the community and families on a day to day basis.It is not just important for the leaders to be in touch with their CPI’s, but to be able to relate to the issues and concerns they have about what they are seeing in the field. If a leader shows the compassion, understanding and empathy to what their CPI’s is going through, they will without a doubt gain their loyalty and trust. If CPI’s feel they cannot trust their supervisors they have an open door policy for CPI’s to come in and voice their concerns without reprisal. CPS has a code of conduct which applies to all members of the organization and is enforced if abused.These Codes of Conduct embodies all the ethical policies and procedures to be followed. This code of conduct makes CPIs and other workers of CPS feel they have a voice and make them feel empowered and not afraid to attack a situation or problem. CPS also has a Whistle blowers protection policies implemented within this organization. I think this policy creates trust within the organization and its leadership, and CPI’s feel that they are an asset to the company and are valued.When it comes to motivation how to motivate people varies from person to person; but it is vital to the success of a company that the leaders have the ability to motivate their CPIs and workers in order to be successful and more productive. The best way for leaders to do this is to know their people and what makes them tick. Because I may be motivated by time off and another person may be motivated by money. In CPS motivation is needed and imperative for CPI’s to go out day in and day out and be productive when facing such grim situations.For instance I remember a week where I was being overw helmed with cases, working late hours every day, and I ran into a case where a 6 year old girl was being molested by the step-father and the uncle and the mother was aware of it. This case really drained me and it took everything I had as a man and a person to get up the next day and go back out to do this job. I remember my supervisor called me into the office and said â€Å"I can see this week has been hard on you; take the day off and go home and be with your family, I got your cases for the day†.This meant a lot to me and it was the motivation I needed to get through another day when I returned, it was the time off I needed and my supervisor showed me he understood and cared for what I was going through. From that day on there was nothing he could ask me I would not do, he earned my respect and loyalty. This is part of the culture that is CPS, CPI’s are given their assignments and goals and what are expected of them and if needed, to work as groups. CPI’s ar e given continuous training to improve their knowledge and skills.CPS tries and implements incentives and rewards, promotions are available if you are productive and efficient in your job performance. CPI’s are given Pay raises, time off and other incentives as a form to motivate them. CPI privacy is safeguarded through the CPS compliance officer; this is an important factor to CPI’s as they deal with sensitive situations. CPI’s has the responsibility of making critical decisions when it comes to child protection. What this means is CPI’s has to have strong decision making skills, this is accomplished by them knowing and understanding their emotional quotient.CPS encourages the CPI’s to seek this both personally and professionally by using classes provided on the website, through seminars, sessions and provided guest speakers. When CPI’s and workers are aware and in control of their feelings and emotions it resonates throughout the organizat ion and they are much more productive and confident. It is important that CPI’s have the ability to excess their interpersonal and intrapersonal emotions to help them to become a more well-rounded CPI within their jobs.They can do this by being more self-aware, self-regulated, self- motivated, having stronger social skills and being empathetic towards the cases and families that encounter. CPS provides CPI’s with emotional training workshops and training coaches to help them become more proficient and productive. For instance I remember when I first got this job, when I received the report on the family and looked at what some of the prior reports were I found myself forming opinions about the family before I ever met them or conducted the investigation into the allegations.My supervisor taught me that it is important to keep your personal feeling out of the process and find the truth and only deal with the truth. Because people change over time and allegations are jus t that allegations until they are proven otherwise. This is the best advice I got when it came to this job and the knowledge I needed to be a more productive investigator. CPS is not a virtual organization but does use virtual organizational elements to enhance the technical experience needed to keep up in this fast pace and growing organization.We are a very large organization and are spreaded out through several regions, not only are we as child protective investigators spread thin; we are in contact and have to use many other resources and organizations that help us provide services to our clients and families. These other entities and organizations include , medical personal, Psychologist and other mental personal and agencies, law enforcement, counselors, schools, lawyers and non-profit agencies to name a few. So when we have what we call a staffing which involves many of these different people and organizations, they are spread out all over the city and state.So this can be ve ry difficult to get them all in one place based on each individual busy schedule. This is where the virtual elements came in as a manner in which to provide a tool that allows us to all be in different places and still be able to come together and address an issue. We are able to do this through virtual elements like; virtual meetings, classes, teleconferences, virtual speaker conferences, etc†¦ to be able to reach and communicate with other CPS personal and offices around the country and state.By using virtual elements it saves time, resources and money and we can effectively reach our goals and get out our message to a large audience with little complication. In conclusion, I think it is imperative that an organization should continuously evaluate their organizational behavior as a manner of determining how effective their process and business policies and procedures are doing. You must try and understand what are the strengths and weaknesses of your organizations performance and what is needed to fix it so your organization can move forward in a positive and successful manner.CPS is an organization that cannot afford to fall behind or lack in any form of technical, environmental or any other change as it relates to the services they provide to families. CPS has a very important job and it requires us to be proficient, up to date and fully trained so we can ensure that nothing but the best service is being provided to children who are being abused and families that require assistance. I believe this is the kind of job that requires people that care, are empathetic, and have a burning need to help others because we cannot afford to drop the ball when it comes to children safety.

Special Ed Essay Example | Topics and Well Written Essays - 250 words

Special Ed - Essay Example Therefore, it is the family’s responsibility to send disabled children to school. The article points out that, both teachers and families should have a cordial relationship to enhance the success of the child (Arlene 29). The article highlights five successful strategies applied when dealing with students with disabilities. It focuses on the issues that an individual needs to recognize about children with special needs while working with their families. One is that teachers should recognize the student’s strengths; what they do easily despite being disabled. Families should be engaged in the student’s learning process as they offer to the teacher information related to their child. They assist the teacher in recognizing the students’ needs and learn how to handle the child at home. As they work with the families, the teacher recognizes the dislikes and accomplishment of the student. The family also gives vital information on the cultural background and health-related issues of the student. In the process, respect between the families and the teacher is established (Arlene 30). There are several ideas mentioned in this article that I will adapt for my Jewish synagogue program. One is the close relationship between the families and teachers; it is a strategy that is effective for the Jewish Synagogue program. The knowledge of handling students with disabilities is also a vital idea for the program. Another important idea is that of directly involving families in the learning process. Encouraging them to come to school regularly and follow up their child’s performance in the Synagogue Program. In addition, the idea of researching on particular disabilities of children in my class is applicable for the Jewish program (Arlene

Globaltech Essay Example | Topics and Well Written Essays - 1000 words

Globaltech - Essay Example Gained knowledge in the change simulation in relation to leading or managing organizational change My greatest learning in the simulation is the concept of diversity and its management towards a successful change implementation. The simulation model developed my insight on the fact that organizational set ups have diversified people, in personality and orientation, a factor that is critical to a change process and can undermine successful implementation of a proposed change. The concept of diversity emanates from the model’s different factors such as working with groups, interacting with people in a discursive forum, appointment of a core team to the desired change, stakeholder mapping and rewarding of the organization’s members for achievements in a change process. These factors’, however, require a psychological consideration that in turn recognizes the concept of diversity and its management for a successful change process. Diversity in an organization is majo rly attributed to cultural orientations that form the core basis of differences between people. Such differences then manifest in a group’s strengths, weaknesses, and conflicts (Aswathappa 231-233). The simulation helped me to understand possible barrier to communication in a change process because diversified personnel in a change process are likely to have different approaches to communication. A good example is cross-cultural communication difference between people from western culture and people from other cultures. While people with western cultural orientation prefer a direct approach to communication that is shallow and precise, other cultures apply indirect communication that is explorative and ensures detailed explanation of points in communication. This difference is significant to change management because of possible conflict among members of different cultures. Members of the western culture may perceive time wastage in other cultures’ explorative approach to communication while people from the other cultures may fail to understand concepts from the western culture’s precise approach to communication. Another essential to the concept of diversity in communication is people’s accent that is greatly affected by culture and people’s environments. Differences in accent have direct impacts on meaning of words and phrases across cultures and may lead to misunderstanding of motives, objectives, and visions in a change process. Two reasons accounts for this. A recipient in a communication process may confuse words and end up with a different meaning or the recipient may completely fail to understand conveyed meaning for necessary action or reaction. Elements of the change simulation therefore helped me to understand the role of communication in a change process and possible consequences of communication barriers (Brett, Behfar and Kern 85- 88). My developed knowledge in diversity and its management also include conflict and conflict management among people who are involved in change processes. Conflicts emerge at different level, from different perspective and are a common element of a diversified population such as members of an organization that

Research Proposal Thesis, Major Points, and Plan Essay

Research Proposal Thesis, Major Points, and Plan - Essay Example Firstly, the police force is responsible for handling crimes in the specific areas under their jurisdiction. This area covers at least a number of municipalities. The police are on the ground and are sometimes engaged in violent encounters involving a minor. They have a duty to protect public from these criminals. Lawyers on the other hand have an in-depth knowledge about the laws of the country. They have the ability to analyze various situations, from different points of view and hence can provide insightful information about the rights and obligations of the minors in the country in respect to violent crimes. Lastly, the human rights organization has the mandate to ensuring that the people of this country are accorded the best treatment deserved. They hold that every person has a right to life. Additionally, they ensure that the culprit (minors or adults) receive a fair trial. For a comprehensive and in-depth of the study, the study would cover several sections that are deemed crucial in gathering persuasive information. The major sections are outlined in the research plan below. The research objectives would be to answer a number of questions identified for this particular research study. The questions formulated aims at gathering information that address the objectives of the study. The questions are designed in a way that they address how the independent variables influence the dependent variables of the topic under study. The questions include: The research would be carried out by collection of primary data from the identified respondents. This activity will make use of personal interviews involving the selected respondents in the sample. The secondary data would be collected through review of literature. These materials are available in the library. The analysis of the collected data would make use of both qualitative and quantitative

Art History Essay Example | Topics and Well Written Essays - 750 words - 12

Art History - Essay Example The pieces of art portray the intersection between the cultural history of the artists and the immediate societies, the respective histories, medium, as well as the specific geographical locations. The Ajanta art, for instance, portrays the Indian culture before 1200. This art was started in the 2nd century B.C. It was nevertheless given up in by the 7th century A.D. This art is a product of its context considering that pieces of art, in this case, have been considered the finest instances of Indian art based the Buddhist religious art. Buddhism as a religion was a very important part of the Indian culture during that time. It was thus essential for the religion and its values to be presented in a visual way (Kleiner 433). In light of the religious importance, the art shows figures of Buddha as well as a depiction of the Jataka tales. Using carvings was particularly a great way of ensuring that the message portrayed could last for a very long time and be passed from one generation to another. A useful example of the Ajanta art is painting of Padmapani as shown in fig.1. Another example of art is the Fresco Painting from the Romanesque Europe created during the early Medieval Europe. The method used to produce this art was mural painting, which involved the use wet lime plaster. Water was used for the pigment in merging with the plaster. Upon setting the plaster, the painting was then integrated to the wall. This type of art is attributed to the later Byzantine period (Kleiner 409). It depicts a lot regarding the mobility of techniques and styles of art. A good example is the Chora Monastery restoration and decoration, which depicts the Byzantine artists’ great skills and versatility. The context in which the art was created was religious since a cycle of Life of the Virgin as well as Christ’s Infancy and Ministry of are shown. These religious incidences

CREATE ONE Essay Example | Topics and Well Written Essays - 1000 words

CREATE ONE - Essay Example Rhetoric is also used to communicate about the services of the firm, especially special offer. For instance, there is an advertisement about a beer tap takeover. This advertisement says that â€Å"we want you to drink more beer† (Tryst Cafe and Pub). This has two main reasons for use. First, it makes the place look like one place that a customer can have all the fun they intend to have. This goes well with the culture of the area where Tryst is located. This is because Americans are known to be people who like having fun in a great way, without limitation. It also creates the impression that when one goes to spend some good time at Tryst, they will not have to worry about spending too much, they will be able to do s without hurting their pockets and wallets. Word choice has also been utilized to communicate the massage about the brand. The authors of the site try to portray Tryst as a place where anybody who love to have a good time should go. The text also identifies that Tryst is a place that one can get what they want because the products that they serve are not generic but are crafted to meet the needs of each customer. As a result, the author argues that when one goes to Tryst, they are able to express their personality by getting a product that best suits their tastes. Informal language is used in order to meet conform with the fact that Tryst is an informal pace. This is not a legal firm, it is an informal place where people go to lose themselves as they indulge in various fun activities. Because of this, the author then tries to make sure that the language that is used in the website is an informal one so that it goes along with the theme of the business. With regard to the color chosen, there are a number of factors that may have informed the choice of color. To begin with, there is the problem of having to conform to the colors of the business. Every business uses color as a branding tool. For Tryst, it has its own unique colors that define it. In

Professional Sports Leagues Coursework Example | Topics and Well Written Essays - 250 words

Professional Sports Leagues - Coursework Example Where the NRL’s teams are losing their value as the number of attendances went down by 3% and NRL also lost $1.8m on the finals series. Youth Football Fund Grassroots has been initiated by NLF along with Local Initiatives Support Corporation (LISC) to provide financial and technical assistance in order to improve the quality, safety and accessibility of local football fields to middle schools and high schools. It is a non-profit program that offers opportunities for recreation, education, and relaxation that contribute to the local quality of life, especially for the youth (Titans, 2015). This initiative would be highly helpful in creating exposure to young athletes towards football. In my opinion NRL should invest more in advertising and sponsorship as decided by the company. It should also take initiatives like NFL to increase exposure and awareness amongst young athletes. This would also help in attracting youngsters towards the sport. It can also build up a nonprofit club in the center of the city with the sole aim of promoting the sport and developing the skills of the young ones for rugby. These programs would definitely contribute in increasing diversity exposure for the professional league. Australian Association Press. (2014).  Rugby league will be biggest sport in Australia, says NRL chief.  the Guardian. Retrieved 24 January 2015, from http://www.theguardian.com/sport/2014/feb/24/rugby-league-biggest-sport-in-australia Burke, M. (2013).  How The National Football League Can Reach $25 Billion In Annual Revenues.Forbes. Retrieved 24 January 2015, from

Critical debates in planning Essay Example | Topics and Well Written Essays - 1000 words - 1

Critical debates in planning - Essay Example Therefore, an important framework in planning should emphasize the importance of all forms of combination of policy monitoring within a spatial analytical structure, the allowance of combining different types of indicators across different themes and the application of a collaborative approach among key stakeholders (Wong & Watkins, 2009: 481). Carmona, M. and Sieh, L (2008) in Judging Performance Measurement in Planning argue that the planning process can be reliably measured despite the fact that performance measurement across public sector in the UK is data rich and information insufficient (Carmona & Sieh, 2008:428). The authors argue that performance measurement is a complex process including developing a framework for that purpose. They state, â€Å"Attempting to understand this complexity, let alone develop a framework for how performance can be measured, is therefore always likely to be a major challenge† (Carmona & Sieh, 2008:428). To handle this issue effectively, policy needs and measurement tools must be included in the overall framework. Houghton (1997) in Performance Indicators in Town Planning argues that the current planning speed performance indicators in planning are of questionable value and has an undue stress on efficiency as compared to effectiveness. Unlike other analysts who argue that development and sustainability are antithetical, Houghton argues that in the use of resources, development needs to be the same as growth and goes on to state, â€Å"Central to this new stress on effective and efficient management in local government has been the introduction of performance measurement (Houghton, 1997:2). Wong & Watkins (2009) argument’s strength is that the authors introduce the readers to the debates that exist in planning, the challenges, and possible working framework for spatial planning. They have included

Traditional Art vs Digital Art Essay Example for Free

Traditional Art vs Digital Art Essay Traditional art VS Digital art Fri, May 15, 2009 News Because we live in a century dominated by technology innovation, art itself has been offered new creative horizons. But these new advantages have not been considered so beneficial for the art by some conservative art lovers, who believe that if the art is not created using traditional tools (pen, oils, watercolor, etc. ) that art cannot be considered true art (true in the meaning of recognizing it’s real values). Even if the painting, the design or the sketch is created using   traditional tools, just a pencil and paper, or a drawing tablet, both reflect in the same way the artist’s creative effort and talent. ? What is really offending nowadays, due to this technology, is that many people pretend to have â€Å"become artists† just because he/she can easily combine some Photoshop brushes. The main question that stands is: how much of that person’s talent is reflected in that resulting piece of art? That depends very much on the person behind the technology. If the person who wants to create ART using the computer is an ARTIST, the resulting piece of digital stuff is ART, without the artist, drawing and manipulating programs can’t do a thing.? Sometimes it’ very hard to discern between the real artists and the ones who are just playing with the tools provided by digital programs. There are also some artists, who pretend their art is totally innovative, abstract or exceeds the limits of imagination by disposing mixtures of abstract elements and finally call it ART. The limits of deciding are actually fragile, because everything that is considered to be ART is decided to be valuable, innovative or absolutely worthless, by   subjective points of view, and a design that is considered to be total crap for one might look absolutely amazing in some others’ opinion. That’s true concerning all kinds of tastes. ?To that, many artists are still attached to those sensitive feelings that traditional art gives, that intimacy between yourself and the blank paper, that process of transforming the paper in front of your eyes, touching it, etting dirty or wrapping it when everything goes wrong. These are feelings that cannot be experienced in front of a monitor.? But although modern art is made of true and false artists, talented and crooks, innovative or copy cats, we cannot ignore the BENEFITS that digital technology has brought.? Digital art is also considered the art of the future, because it provides infinite opportunities for the artist to expand his imagination and show us the   crazy and amazing things he can do just by using a mouse, a drawing tablet and his skills. These things can be considered wrong and â€Å"evil† only by those artists who have been painting all their life in the traditional old style and cannot accept or cannot adapt to new techniques.? Digital art can be considered innovating also for the classical process approach:   programs like Adobe Photoshop, Illustrator, After Effect, not to speak about the 3d ones, 3D Studio Max and Maya offers the artist many electronic brushes, pen tools, endless colors and combination, which make their life and the process of creation much easier and pleasant. Amazing   illustrations   and images that seemed impossible to create in the past, are possible with the help of new technologies. The progress that digital artist are achieving nowadays   in the fantasy/sci-fi field is mind blowing. Even though, there are also charcoal nudes or portraits who carry along profound aesthetic emotions for the viewer.? People may say that when an artist creates a   digital piece of art, that piece of art can be printed or sold in various forms in an infinite number of identical copies, and in the same time, that element which is so important for visual art lovers is lost: the uniqueness. But let’s keep in mind that copies of many famous traditional paintings have been manually created by the painters themselves, in order to satisfy as many collectors as possible.? Probably in the future, digital art will be considered traditional as well. But today, it’s the artists’ decision to choose the ways of expression f or their talent. http://blog. tshirt-factory. com/? p=678

Importance Of Capital Structure To A Firm Finance Essay

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

Jack Londons Sea Wolf, The Call of the Wild, and White Fang :: Jack London Wolf Wild Fang Essays

Jack London's Sea Wolf, The Call of the Wild, and White Fang   Ã‚  Ã‚  Ã‚  Ã‚  Jack London lived a full life, even though he died at the young age of forty. In his life time he experienced many things, and I believe that these experiences were the catalyst of his novels. Jack London was an oyster pirate, a government patrolman in San Francisco Bay, a sailor and an agrarian reformer, a seal hunter in the North Pacific and a gold prospector in the frozen Klondike, a war correspondent and a prizefighting reporter, a socialist soapbox orator who later became a lecturer at universities, a family man and landowner, and of course a true American writer. A critic by the name of Alfred Kazin once said "that the greatest story London ever wrote was the one he lived."   Ã‚  Ã‚  Ã‚  Ã‚  London had a hard life as a child and as a young man, in spite of this London grew to become one of Americas most popular and highly paid authors ever. He was not a baby boomer. This was not just an American thing, London was known around the world for his great adventure stories, that could be enjoyed by all ages. Londons life was diversified and so were his writings. Today, London is mostly known for his "dog stories", The Call of the Wild and White Fang. In addition to those great works London wrote many other stories and novels, all of which were published in the seventeen years that he wrote professionally. Londons writings vary in quality as well as in subject, his from the cheapest and worst kind of pieces to the beautiful works like The Call of the Wild and Sea Wolf. In this literary analysis the focus will be on Londons more well known and enjoyed works.   Ã‚  Ã‚  Ã‚  Ã‚  Londons life defiantly coincides with his writing. Professor Earle Labor attributes London's success as a writer to three different factors: poverty- how London rose from the bottom all the way to the top, wanderlust- the fact that he spent a good portion of his life on the road gave him ample material to write about, and last but not least was, "the omnivorous appetite for reading that gave him his philosophical substance and sense of artistic form."   Ã‚  Ã‚  Ã‚  Ã‚  London was a complex individual whose character was made up of apparent contradictions. He was a declared socialist, but above all, a devout individualist. He believed in the politics and economics of socialism and decried the iniquities Of capitalism, but at the same time set out to succeed within that system. Jack London's Sea Wolf, The Call of the Wild, and White Fang :: Jack London Wolf Wild Fang Essays Jack London's Sea Wolf, The Call of the Wild, and White Fang   Ã‚  Ã‚  Ã‚  Ã‚  Jack London lived a full life, even though he died at the young age of forty. In his life time he experienced many things, and I believe that these experiences were the catalyst of his novels. Jack London was an oyster pirate, a government patrolman in San Francisco Bay, a sailor and an agrarian reformer, a seal hunter in the North Pacific and a gold prospector in the frozen Klondike, a war correspondent and a prizefighting reporter, a socialist soapbox orator who later became a lecturer at universities, a family man and landowner, and of course a true American writer. A critic by the name of Alfred Kazin once said "that the greatest story London ever wrote was the one he lived."   Ã‚  Ã‚  Ã‚  Ã‚  London had a hard life as a child and as a young man, in spite of this London grew to become one of Americas most popular and highly paid authors ever. He was not a baby boomer. This was not just an American thing, London was known around the world for his great adventure stories, that could be enjoyed by all ages. Londons life was diversified and so were his writings. Today, London is mostly known for his "dog stories", The Call of the Wild and White Fang. In addition to those great works London wrote many other stories and novels, all of which were published in the seventeen years that he wrote professionally. Londons writings vary in quality as well as in subject, his from the cheapest and worst kind of pieces to the beautiful works like The Call of the Wild and Sea Wolf. In this literary analysis the focus will be on Londons more well known and enjoyed works.   Ã‚  Ã‚  Ã‚  Ã‚  Londons life defiantly coincides with his writing. Professor Earle Labor attributes London's success as a writer to three different factors: poverty- how London rose from the bottom all the way to the top, wanderlust- the fact that he spent a good portion of his life on the road gave him ample material to write about, and last but not least was, "the omnivorous appetite for reading that gave him his philosophical substance and sense of artistic form."   Ã‚  Ã‚  Ã‚  Ã‚  London was a complex individual whose character was made up of apparent contradictions. He was a declared socialist, but above all, a devout individualist. He believed in the politics and economics of socialism and decried the iniquities Of capitalism, but at the same time set out to succeed within that system.

America Needs an Alternative to Prison :: Argument Argumentative

America Needs an Alternative to Prison America's prisons have been called "graduate schools for crime." It stands to reason: Take a group of people, strip them of possessions and privacy, expose them to constant threats of violence, overcrowd their cell- block, deprive them of meaningful work, and the result is an embittered underclass more intent on getting even with society than contributing to it. Prisons take the nonviolent offender and make him live by violence. They take the nonviolent offender and make him a hardened killer. America has to wake up and realize that the current structure of our penal system is failing terribly. The government has to devise new ways to punish the guilty, and still manage to keep American citizens satisfied that our prison system is still effective. Americans pay a great deal for prisons to fail so badly. Like all big government solutions, they are expensive. In the course of my studies dealing with the criminal justice system, I have learned that the government spends approximately eighty-thousand dollars to build one cell, and $28,000 per year to keep a prisoner locked up. That's about the same as the cost of sending a student to Harvard. Because of overcrowding, it is estimated that more than ten-billion dollars in construction is needed to create sufficient space for just the current prison population. The plain truth is that the very nature of prison, no matter how humane society attempts to make it, produces an environment that is inevitably devastating to its residents. Even if their release is delayed by longer sentences, those residents inevitably return to damage the community, and we are paying top dollar to make this possible. Why should tax payers be forced to pay amounts to keep nonviolent criminals sitting in prison cells where they become bitter and more likely to repeat their offenses when they are released? Instead, why not put them to work outside prison where they could pay back the victims of their crimes? The government should initiate work programs; where the criminal is given a job and must relinquish his or her earnings to the victim of their crime until the mental and physical damages of their victims are sufficed. A court will determine how much money the criminal will have to pay for his restitution costs, and what job the criminal will have to do to pay back that restitution. The most obvious benefit of this approach is that it takes care of the victim, the forgotten person in the current system.

Edgar Allan Poe Essay -- Edgar Allan Poe, Biography

â€Å"The spirits of the dead, who stood, In life before thee, are again, In death around thee, and their will, Shall overshadow thee; be still†(â€Å"Spirits Of The Dead†). As the â€Å"Father Of Horror† Poe loved to write about his feelings in a more, disturbing and haunting way. He wrote many great poems about death, ghosts, and even some love stories; but in a twisted way. Poe had a deep love for writing and for much of his life could not share that with the world. Once he got into college, Poe started sharing his works with others. Soon he became famous and earned the name â€Å"Father Of Horror†. Edgar Allen Poe’s tragic life led to a fascination with the dark side which is certainly evident in â€Å"The Raven†. Edgar Allen Poe was a talented poet, who wrote many poems and books. Poe was born on January 19th 1809 in Boston Massachusetts(biography.com). He passed away on October 7th 1849, after being found unconscious in Baltimore, Maryland (poetryfoundation.org). When Poe was only a year old both his parents split up, and because of that he never really knew his father(biography.com). Also his mother passed away when he was only 3, so he had little to no memory of her(biography.com). After his mother’s death Poe had to live with a tobacco merchant and his wife(biography.com). He lived in Richmond, Virginia until he decided to leave to attend the University Of Virginia(biography.com). His adoptive father,John Allan, who he lived with when his mother passed, never gave him enough money to pay for all the costs of college(biography.com).Therefore Poe turned to gambling to cover the cost(biography.com). Poe was a very broken individual that had been through an enormous amount of problems( biography.com). When he came back home one time he discovered t... ... through great troubles all of his life, he still decided to share it with the world in the best way he could. Without his poems, Poe probably wouldn’t be the poet he is known for today. As the â€Å"Father Of Horror† Poe really brought his poems to life in a haunting and deeply saddening way; but also in a good way. Works Cited "Edgar Allan Poe Biography." Bio.com. A&E Networks Television, 1996. Web. 03 Feb. 2014. "Edgar Allan Poe." Poets.org. Academy of American Poets, 1997. Web. 03 Feb. 2014. "Welcome to PoeStories.com." Poestories. Robert Giordano, 31 July 2005. Web. 03 Feb. 2014. "Edgar Allan Poe." : The Poetry Foundation. N.p., n.d. Web. 12 Feb. 2014. Poe, Edgar Allan. "Spirits Of The Dead." Poemhunter.com. N.p., n.d. Web. 12 Feb. 2014. "The Tell-Tale Heart by Edgar Allan Poe." The Tell-Tale Heart by Edgar Allan Poe. N.p., n.d. Web. 11 Feb. 2014. Edgar Allan Poe Essay -- Edgar Allan Poe, Biography â€Å"The spirits of the dead, who stood, In life before thee, are again, In death around thee, and their will, Shall overshadow thee; be still†(â€Å"Spirits Of The Dead†). As the â€Å"Father Of Horror† Poe loved to write about his feelings in a more, disturbing and haunting way. He wrote many great poems about death, ghosts, and even some love stories; but in a twisted way. Poe had a deep love for writing and for much of his life could not share that with the world. Once he got into college, Poe started sharing his works with others. Soon he became famous and earned the name â€Å"Father Of Horror†. Edgar Allen Poe’s tragic life led to a fascination with the dark side which is certainly evident in â€Å"The Raven†. Edgar Allen Poe was a talented poet, who wrote many poems and books. Poe was born on January 19th 1809 in Boston Massachusetts(biography.com). He passed away on October 7th 1849, after being found unconscious in Baltimore, Maryland (poetryfoundation.org). When Poe was only a year old both his parents split up, and because of that he never really knew his father(biography.com). Also his mother passed away when he was only 3, so he had little to no memory of her(biography.com). After his mother’s death Poe had to live with a tobacco merchant and his wife(biography.com). He lived in Richmond, Virginia until he decided to leave to attend the University Of Virginia(biography.com). His adoptive father,John Allan, who he lived with when his mother passed, never gave him enough money to pay for all the costs of college(biography.com).Therefore Poe turned to gambling to cover the cost(biography.com). Poe was a very broken individual that had been through an enormous amount of problems( biography.com). When he came back home one time he discovered t... ... through great troubles all of his life, he still decided to share it with the world in the best way he could. Without his poems, Poe probably wouldn’t be the poet he is known for today. As the â€Å"Father Of Horror† Poe really brought his poems to life in a haunting and deeply saddening way; but also in a good way. Works Cited "Edgar Allan Poe Biography." Bio.com. A&E Networks Television, 1996. Web. 03 Feb. 2014. "Edgar Allan Poe." Poets.org. Academy of American Poets, 1997. Web. 03 Feb. 2014. "Welcome to PoeStories.com." Poestories. Robert Giordano, 31 July 2005. Web. 03 Feb. 2014. "Edgar Allan Poe." : The Poetry Foundation. N.p., n.d. Web. 12 Feb. 2014. Poe, Edgar Allan. "Spirits Of The Dead." Poemhunter.com. N.p., n.d. Web. 12 Feb. 2014. "The Tell-Tale Heart by Edgar Allan Poe." The Tell-Tale Heart by Edgar Allan Poe. N.p., n.d. Web. 11 Feb. 2014.

John Stuart Mill Essay

Moral theories try to explain what distinguishes right actions from wrong ones. The theory of utilitarianism tries to do the same by incorporating several aspects that set up a moral standard to help investigate the balance between right and wrong. John Stuart Mill, a British philosopher of the 1800’s defends the utilitarian school of thought by pointing out what it is that makes utilitarianism the standard theory for morality. According to Utilitarianism as explained by Mill in his essay â€Å"In Defense of Utilitarianism† the fundamental principle of morality is the promotion of happiness on a scale that benefits an individual and the ones around him; also to promote pleasure and to prevent pain. Several major objections are raised towards the moral theory of utilitarianism some examples can be the idea that the theory asserts too much emphasis on pursuing pleasure which makes it â€Å"a doctrine worthy of swine† (â€Å"Defense†). Another objection is that in everyday circumstances it is impossible for humans to make a morally just decision (â€Å"Defense†). An additional counter-argument that struck me the most was the statement that utilitarianism sets standards that are deemed â€Å"too high for humanity† (â€Å"Defense†). What this objection projects are the predisposed and unwarranted capabilities of the human race. According to this statement humanity is made comparable to other (lower ranking) species that lack the intrinsic values that make us humans human; like thinking faculties that are much superior to other animals or the ability to have languages or develop intricate cultural systems, just to name few. Therefore, making this objection a weak one and one that displays an inferior and subjacent view towards the principle of morality. Mill on the other hand deduces the true motives of these objections and labels these ideas as being of such nature that promote actions in accordance with one obliging to a certain duty. If that is the case then individuals can be comprised of nothing but a niche in society. He argues that ethics holds the responsibility of outlining our duties, fulfilling them is dependent only on factors that promote the larger well being of a society. Mill states such objections as â€Å"misapprehensions† and transcribes an important point which nonetheless reconstructs and fabricates the idea of utilitarianism; he states â€Å"this affirms that the motive has nothing to do with the morality of the action, though much with the worth of the agent. † (â€Å"Defense†).

Evaluation of a Playoff System for Bowl Games Essay

Introduction   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Bowl games are designed as the culminating event between colleges that topped in their division during the regular college football season. Begun in 1902, the first bowl game between Michigan and Stanford was concocted to arouse interest in the Tournament of the Roses and to generate greater tourist interest and, subsequently, more income. With Stanford’s defeat, the tournament was put on hold and was resumed in 1916, but it was not until 1923 that its was held at the newly-built stadium called the Rose Bowl, thus the contest was called the Rose Bowl game. Subsequent bowl games organized took the â€Å"Bowl† moniker as a testament to the success of the Rose Bowl games. (â€Å"College bowl games†) Source:BSC Conference at Wikipedia from   http://upload.wikimedia.org/wikipedia/en/5/53/BCS_Map.PNG There are many bowl games formed since then. Some are one-shot deals, others considered â€Å"toilet† bowls, denoting less than successful plays by participating colleges, notably the 1983 bout between Michigan and Michigan State and the 1987 match-up between Kansas and Kansas State. (â€Å"Bowl game†) Currently there are four major bowl games that host the Bowl Championship Series in turns: the Rose Bowl in Pasadena, California; the Orange Bowl in Miami, Florida; the Sugar Bowl in New Orleans; and the Fiesta Bowl in Arizona. The games are normally played from mid-December until mid January.   These are the Bowl Championship Series (BCS) bowls, while 27 other bowl games are considered non-BCS bowls. (â€Å"Bowl game†; Bowl Championship Series)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This paper will evaluate the possible application of the play-off system on college bowl games and the impact on non-BSC bowl games. NFL Playoffs system for Bowl Games   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The National Football League (NFL) play-off is the elimination round of currently the 6 top teams from the American Football Conference and the National Football Conference. Each conference produce four division champions seeded 1 to 4, and two wildcard qualifiers, seeded 5 and 6. The teams play within their divisions to determine the Division Playoff winners who will then compete against their opposite number in the Super Bowl. (NFL Playoffs)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The BCS was formalized in 1998 when it replaced the Bowl Alliance as the ultimate face-off in the bowl games. Two teams are selected from the top teams from the NCAA Division I-A bowl game conferences, which are the Atlantic Coast Conference, Big 12 Conference, Big East Conference, Big Ten Conference, Pacific Ten Conference and the Southeastern Conference. Colleges which are not part of these conferences and independent schools are not barred from the selection process but the chances of being selected for the coveted two slots were small because of the system of ranking employed in bowl games for the National Championship game. (â€Å"BCS conference†)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   There is an ongoing debate regarding the system of ranking in bowl games, which will eventually determine which two teams will play in the National Championship game. There are claims that the system, based on coach polls, computer-constructed polls, strength of schedule (win/loss ratio) and losses, was not equitable, too complicated, and produced ambiguous results. Polling produced issues of bias in ranking towards bowls associated with BCS conferences, leaving non-BCS conferences out of the running. Moreover, it is asserted that the absence of a playoff discriminates against teams that have lower ranking even though actual games win/loss ratio for the season should have guaranteed at least a fighting chance to compete in the National Championship. (Bowl Championship Series) Compared to the head-to-head match-up that prevails in the NFL playoffs, it would seem logical to go down the path of the tried and tested. Winners of the NFL playoffs are undisputed with no messy rankings to confuse the issue of which team was the best. However, one can argue that the motivations behind the NFL and bowl games are completely different. Bowl games are college football games, providing training for athletes after the football season that otherwise would not happen. This is the reason why many coaches encourage them. Bowl games are considered more as a source of entertainment for football fans post season in hopefully congenial surroundings. (Nelson)   Of course, the organizers were impelled by more pecuniary motives.    Currently, the major bowl game conferences generate more than US$100 million a year in sponsorship and media cdontracts, even more if the proposed new system, where a fifth bowl will be included, is implemented. (â€Å"Six conferences retain automatic bids†) However, for many colleges, especially non-BCS ones, the main purpose of the games remains.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The playoff system works for the NFL, but for bowl games it would alter the whole complexion of the sport. Because of the way the rankings are determined, each of the games in the regular college football season assumes equal importance. The win/loss ratio will not guarantee top place because the system of averaging, the polls and losses can bring the ranking down even with just one botched game. A playoff system would discourage teams from playing all out in all the games because the chances of a top contending team being pulled down by one game is not going to happen.   Ã‚   Moreover, a playoff system would encourage college teams to reserve their best plays and strategies for the all important match-up at the end of the season.   (Willson)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   There have been some suggestions for the improvement of the bowl game ranking system by its combination with some characteristics of the playoff. Giles asserts that the BCS system is useful in determining the top college teams during the regular season; it is only when it comes to the top two teams that they run into issues. With this in mind, it is suggested that at the end of the season, the top 8 teams would selected based on existing BCS eligibility requirements for the National Championship game. Automatic berths based on conference would be eliminated, giving a fair chance for all colleges to compete. It would discard the one-team-per-conference rule but retain the hosting of the event among the Rose, Fiesta, Orange and Sugar Bowls. Elimination rounds among the 8 teams will eventually lead to semi-finals that would determine which two teams will go on to the National Championships.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It sounds reasonable but it might just exacerbate the situation because it presumes that the ranking system in the bowl games is reliable, which, as stated earlier, it is not. This is the whole point of the controversies surrounding the bowl games. Using the present ranking system will most probably result in the same BCS and traditional teams being chosen as the eight teams contending for the playoffs, so the inequity will still exist. Conclusion   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It would seem that implementing an NFL play-off system in bowl games would result in an unwelcome shift in the general motivation behind the game.   It also appears it would not greatly improve the chances of non-BSC bowl games in being represented in the BSC and the National Championship in its current state. For the 27 non-BSC and independent bowl games that continue to play, the rationale behind bowl games does not require affirmation from the BSC. Bowl games are essentially a chance for college students to enjoy the chance to see competing colleges compete against each other after the end of the season. It provides relief from academic pursuits inspires student loyalty towards the learning institution and provides additional public exposure for aspiring athletes. Coaches encourage it as a means for additional training for the next season and communities benefit from it by encouraging tourists. Bowl games will continue to be enjoyed, with varying degrees of financial success, by those who count: the players, their fans, the community and the colleges Works cited â€Å"Bowl game.† Wikipedia, The Free Encyclopedia. 5 Jan 2007, 04:06 UTC. Wikimedia Foundation, Inc. 21 Jan 2007 . â€Å"NFL playoffs.† Wikipedia, The Free Encyclopedia. 17 Jan 2007, 23:51 UTC. Wikimedia Foundation, Inc. 21 Jan 2007 . Nelson, Loren. â€Å"Are college football bowl games meaningless?† NCTimes.com. 16 December 2006. 23 January 2007 Alder, James. â€Å"BCS vs. Playoff System.† About.com. 2007. 24 January 2007 Giles, Alex. â€Å"The proposed marriage of the BCS and a playoff format.† About.com. 19 November 2002. 23 January 2007 Willson, Charlie. â€Å"Playoffs vs. Bowl Games: College Season Too Good to Change.† MindSpring. 2007. 24 January 2007 â€Å"College bowl games.† Hickoksports.com. 26 November 2006. 24 January 2007 â€Å"Six conferences retain automatic bids.† Associated Press. 1 March 2004. 23 January 2007 â€Å"Bowl Championship Series.† Wikipedia, The Free Encyclopedia. 20 Jan 2007, 23:00 UTC. Wikimedia Foundation, Inc. 24 Jan 2007 . â€Å"BCS conference.† Wikipedia, The Free Encyclopedia. 9 Jan 2007, 16:41 UTC. Wikimedia Foundation, Inc. 24 Jan 2007 .   

Learning’s in OJT Essay

All HRM Students have their OJT’s in different restaurants, we were assigned in Stad. We started on April 27, 2012. I together with Rhems Tugas, Andrea Sagmit, Kaydee Gracia, Jerica Sarondo. We were oriented but in the middle of last April. I started the OJT in Stad is quite enjoying but the staff are so funny because they elaborated some menu to teach us how to cook it. And we do it well; I was surprised on the proper ways of how to communicate to customers with smile. The things that I’m doing in Stad we have to greet the customer well and we said in the kitchen staff, they do it and ready to serve. Suppose the guest done we gave the receipt to the cashier have known how much the bill. And then chance to interact closely with new co-workers and get practical advice about doing the job. Many times, the person who will be doing the training and evaluation is the new worker’s supervisor or manager, so this also establishes job expectations from the very beginning. Read more: Learning Insights in OJT The feedback during on-the-job training is also immediate, so the new employee may experience faster growth in the job than he would in other types of training situations. My experience in Stad Restaurant as a Dine In really served as one of the most unforgettable experiences because I learned how to handle difficult situations and able to resolve it the way I knew how by practical application of common sense remembering the principles and theories I learned during my formal training in school. Personal experience shared by my mentors handling dissatisfied customers during my formal educational training helped me a lot during those hard times of my OJT. Indeed it is true that people are hard to please. Different guests have various need levels and definitions. Sometimes hard work does not guarantee customer satisfaction. Part of my unforgettable and challenging experience was when one of the guests complained that was unable to top up the coffee box and stock up towels in the room. The first order reacting to the situation was to listen to what the guest was saying, understanding that whatever and everything he uttered because he was unhappy on such given situation. After everything has been, an apology extended with an assurance and attention shall be looked into to all of his needs. The brief awful encounter which almost put me in tears, feeling alone in country,being scolded by a stranger,the hard wrk in between unavoidable skipping meals just to finish the tasks given to me. Instead of giving up, it served as an inspiration to well on my OJT. Learning’s in ojt2.

Herman Melville’s’ Moby Dick

IntroductionMoby Dick has secured the author’s reputation in the first rank of all American writers. Firstly, the novel was published in the expurgated form and was called The Whale. It was published in 1851 (Bryant 37). â€Å"Moby Dick† is an encyclopedia of the American romanticism. Here there are thousands of private observations, concerning the developments of the American bourgeois democracy and the American public consciousness. These observations were made by writers and poets, the predecessors of Melville. Here we can see the united protest of the American romantic idea against bourgeois and capitalistic progress in its national American forms.Meaning of cannibalismIn the present paper we will discuss the meaning of cannibalism in the novel (Delbanco 26). The famous citation of the chapter 65 contains deep sense that deserves thorough analysis: â€Å"Cannibals? who is not a cannibal? I tell you it will be more tolerable for the Fejee that salted down a lean mis sionary in his cellar against a coming famine; it will be more tolerable for that provident Fejee, I say, in the day of judgment, than for thee, civilized and enlightened gourmand, who nailest geese to the ground and feastest on their bloated livers in thy pate-de-foie-gras† (Melville 242).  Moby dick is also educational and true, because Romanticism believed that fiction had to be the only vehicle to describe the history of the past.The intention was to make the story interesting (Bryant 14). To understand the original meaning of cannibalism in the  novel it is important to establish principles which Melville has built the narration on. The attitude towards cannibals is described better in the story â€Å"Typee†. The connection with this story helps us understand the meaning of the abovementioned citation from â€Å"Moby Dick†.   Pictures of savages’ life drawn by writer bear all features of â€Å"an ideal life â€Å". Melville admired the life of the tribe, but we can’t but notice, however, that he was not going to offer the reader a happy life of savages as the sample for imitation. The poetic pictures drawn by the writer have another meaning. They are created for comparison with contemporary bourgeois civilization (Delbanco 26).According to Melville, Bourgeois civilization, in the kind it existed at the beginning of XIX century, had no future. â€Å"Ideality† of savages in has two aspects: natural and public (Bryant 37). In natural aspect the savage is ideal because it is fine, and it is fine because has kept the features of the physical shape lost by the civilized person (Bryant 15).Melville adhered the same principle when he spoke about â€Å"ideality† of cannibals’ social existence. A savage does not have property, and it does not know what money is. It is relieved by that of two harms of a civilization. They cannot have a desire to act in defiance of truth and validity (Bryant 15). There is no stimulus for that. The savage is not spoiled by a civilization, but it has the defects: cannibalism and heathenism. However, what do they mean in comparison with more severe, realized crimes of the civilized person?In Moby Dick Melville is rather laconic describing savages life elements, but narrates in detail about the bourgeois state and the legislation, police, crimes against society, about power of money, about religious prosecutions, noxious influence of the society on a person – all that precedes eschatological accidents (i.e. infringement of the right and morals, conflicts, the crimes of people demanding punishment of gods) (Bryant 36).Melville does not dismiss cannibalism, backwardness of intelligence and public consciousness, primitiveness of a life and many other negative phenomena in a life of â€Å"happy† savages. Speaking about some wild or even brutal customs of savages, he finds parallels in a life of a civilized society: cannibalism is a devil art w hich we find out in the invention of every possible retaliatory machines; retaliatory wars are poverty and destructions; the most furious animal in the word is the white civilized person (Delbanco 25).Symbolism as a trait of romanticism in the novelIt is not the only symbolic trait in the Moby Dick. For example, all crew members are given descriptive, biblical-sounding names and Melville avoids the exact time of all events and very details. It is the evidence of allegorical mode. It is necessary to mention the mix of pragmatism and idealism (Bryant 14).For example, Ahab desires to pursue the whale and Starbuck desires to arrange a normal commercial ship dealing with whaling business. Moby Dick can be considered as the symbolical example of good and evil (Delbanco 25). Moby Dick is like a metaphor for â€Å"elements of life that are out of people’s control†. The Pequod’s desire to kill the white whale is allegorical, because the whale represents the main life goa ls of Ahab. What is more important is that Ahab’s revenge against Moby is analogous to people’s struggling against the fate (Bryant 14).ConclusionIn conclusion it is necessary to admit that Melville thought people needed to have something to reach for in their life and the desirable goal might destroy the life of a person. Moby Dick is a real obsession which affected the life of ship crew (Bryant 37). Thus, the  system of images in â€Å"Moby Dick† makes us understand the basic ideas of the novel of Melville. Eschatological accidents often are preceded with infringement of the right and morals, conflicts and crimes of people, and the world perishes from fire, flood, cold, heat, famine. We can see this in the novel  «Moby Dick† which shows a life of the American society of the beginning of XIX century (Delbanco 15).Works citedLevine, Robert S., ed. The Cambridge Companion to Herman Melville. Cambridge, UK & New York: Cambridge University Press, 1998.Del banco, Andrew. Melville: His World and Work. New York: Knopf, 2005Melville, Herman: Redburn, White-Jacket, Moby-Dick (G. Thomas Tanselle, ed.) (Library of America, 1983)Bryant, John, ed. A Companion to Melville Studies. Westport, CT: Greenwood Press, 1986 Bryant, John. Melville and Repose: The Rhetoric of Humor in the American Renaissance. New York: Oxford University Press, 2001