Ch. 4 Reflection for Love in the Time of Cholera

Chapter 4 Reflection Being in control of your life completely is a bit impossible in these times. Moreover, it was even more difficult during the time period of the book. Usually, a man is the head of the house. But, in fermina Daza’s household, she was the head of the house. Dr. Urbino, though a man held in high esteem in the community, was a very passive man in his household. Their household demonstrates a change in the roles of the genders.Fermina, due to her personality, has adopted a more dominant role in their marriage, while Dr. Urbino has a more passive role. Fermina, throughout the years, have assumed a dominant rule that no one in the house is over. Prior to her marriage to Dr. Urbino, when, upon her return from the trip abroad, her father recognizes her newfound maturity and grants Fermina control of the house. Fermina, now far more mature and capable than ever, is accustomed to being in control. She is the secret emperor of the household, while Dr.Urbino is sort of a figurehead. This also explains why she is so exasperated when Dr. Urbino’s mother usurps her domestic control. Fermina hates Dona Blanca so much because Dona, in many aspects of her character, emulates Fermina's father, Lorenzo Daza. Like Lorenzo, Dona exerts her power over Fermina, and uses this authority to control her. As with her father, Fermina is powerless to fight back, for retaliation against Dona Blanca would only be futile, and cause unwanted strife within the household.For the first time since her return from her journey, she is belittled and that pisses her off to no end. My mother and I have a constant power struggle in the house. I think because of our extremely similar personalities, we are unable to get along without conflict most of the time. My mother has raised three children before me, so she knows what to do when raising children. She has a set of expectations that is very strict because it has been tried true through three generations before me.They h ave been methods tested and steeled through her experiences with my older sisters. I try to resist her dominance because i refuse to just give and and let her completely dominate my life. So, when i refuse to give in to her established expectations, conflict is created through both of us. We both try to exert our dominance and our strong personalities prevent us from giving in. My rebellion disrupts the absolute power she thinks she has as a parent. It is hard to give up something you’ve had for a long time.With Fermina, it is her dominance of being the head of the house for so many years. With my mother, it will be her authority as a parent. People aren't too willing to give up their positions of power. After what they may have been through to obtain that position, it would seem plausible as to why they wouldn’t want to give it up. It is in human nature to be greedy, and also we don’t like things changing too much. The older you get, the more you dislike it. Bu t, i think we should all learn to embrace the changes we have.

The Philosophy of Action in Hamlet

‘Words, words, words’: Hamlet’s philosophy of action Central to any drama is action. What distinguishes drama from other literary forms is the very fact that it is acted upon a stage, that voice is given to the words and that movement creates meaning. It is, therefore, puzzling that the most seminal dramatic work in the English language contains, arguably, precious little of what many might describe as dramatic action. Nevertheless it has moved, enthralled and, what is more, entertained generations of theatre goers across the centuries and is still regarded as one of Shakespeare’s most popular play.It has divided critics: Johann Wolfgang von Goethe regards as central to the play Hamlet’s inability to act[1] whereas T. S. Eliot reduces the work to ‘an artistic failure’. [2] If Tom Stoppard is to be believed, even the characters are at odds with this apparent lack of drama as Stoppard’s Rosencrantz asks ‘is it too much to expe ct a little sustained action?! ’[3] If then, we are to acknowledge that action is central to drama, it is important to remember that such action is usually derived from conflict.When regarding Hamlet through this basic philosophy, the play is in every way dramatic. The play is concerned with conflict. We have international conflict, familial conflict and internal conflict and it is these conflicts that drive the play. This is confirmed within the opening line ‘Who’s there? ’(I. i. 1)[4] Immediately we are plunged into the state of paranoia that envelops Elsinore, the question is confrontational and, furthermore, directs us towards the international conflict between Denmark and Norway. The drama of the play, however, is not as simple as this.For instance, we must also consider the dramatic structure of a play and apply this to Hamlet; a structure that goes from equilibrium to conflict and then on to a new equilibrium. It is impossible to relate this to the play; for who would agree that the Elsinore, at the start of Hamlet, is in a state of equilibrium? Indeed, as Stephen Ratcliffe points out, the catalyst for all action in the play does not occur within the play[5]. The murder of Hamlet’s father has already happened when Barnardo delivers that famous first line, a line which itself suggests a response to something that has happened offstage.Ratcliffe goes on to discuss that the line could almost be a response to a ‘knock knock’ joke but more seriously that it: begin[s] the play in response not only to some implicit, unspoken physical action- some motion or noise in the dark, [†¦] but to an implicit action not performed on stage – some motion of the Ghost of Hamlet’s father which Bernardo, who speaks this line, must imagine he has seen and/or heard. [6] Ratcliffe also suggests that the action not performed on stage does not happen at all.Alarmingly, he refutes Claudius’s confession of frat ricide in Act III, arguing unconvincingly that Old Hamlet’s murder had never taken place. [7] In spite of this he does raise an interesting issue that is concerned with the question as to why – when in Western literature dramatic narrative is defined by cause and effect – does Shakespeare place the primary cause off stage and beyond the gaze of his audience? We are left to imagine the dramatic possibilities of opening the play with the alarming and visually striking image of a brother’s murder.If Shakespeare’s decision to leave this exciting and sinister event in the wings confounds us, what, then, are we to make of the climax of the play? If we are to return to the classic dramatic structure of a play, we expect to see rising action leading to a climax that, in turn, leads on to the falling action culminated by the denouement. Hamlet gives us no such structure. There is no climax in the classic sense or if there is it appears in the final scene, n ot where one would expect. There is, nevertheless, one possibility that the climax may appear earlier in the play and that would be, in the traditional sense, in Act III.The murder of Polonius in Act III, scene iv might be regarded as the turning point of the play in the same way that Mercutio’s death in Romeo and Juliet is seen as such. It is at this point that we see Hamlet at a height of passion, ‘How now? A rat! Dead for a ducat, dead’ (III. iv. 23). The use of the word ‘rat’ shows Hamlet’s contempt for his supposed victim, the repetition of ‘dead’ embellishes his determination to kill, and the ducat is the small price Hamlet values the life he has just taken. The consequences of this action feed into every other event that is to happen: Claudius’s resolve to kill Hamlet, Ophelia’s eath and Laertes’s act of revenge which brings about the play’s final dynastic collapse. Once again, though, Shakespear e ‘removes’ the audience from the action, having the murder take place ‘offstage’. Polonius is murdered behind the arras and this takes us away from the immediacy of the action. There is no huge build up with a climactic duel as there is in Romeo and Juliet; we are not even given the drama of remorse that is evident in Macbeth. For these reasons, it is impossible to consider the death of Polonius to be the dramatic climax of the play, merely another cause leading on to another effect.This shortage of ‘action’, though, is illusory. A. C. Bradley comments on this when he suggests a hypothetical reaction to the play: What a sensational story! Why, here are some eight violent deaths, not to speak of adultery, a ghost, a mad woman, and a fight in a grave! [8] Hamlet does have a dramatic conclusion, of that no one is in doubt, but this has come after a series of procrastinations from the titular hero. All other action is kept firmly offstage. One mig ht hear Bradley go on to say ‘Treason, pirates, war, the storming of a castle and a regime change! The latter two were included in Branagh’s film version strongly alluding to the storming of the Iranian embassy in 1981 an event that was intensely exciting and dramatic for any that can remember it. For Shakespeare, however, such extravagant action appears to be superfluous to his play and is, therefore, not of importance. As a consequence, it would appear redundant to continue analysing what is not in the play, as Ratcliffe has done at length[9], and to focus on what Shakespeare does give us. What Shakespeare does give us is words, ‘words, words, words’(II. i. 192) and it is through these words that he provides the action. It is here where I must agree with Ratcliffe when he suggests that, in Hamlet, it is the language that is of importance and not the action. [10] It is necessary, then, to look at the power of language within the play and how Shakespeare fa cilitates it in order to sustain a dramatic structure. Firstly, as mentioned above, the catalyst for all the action in the play happens off stage but is delivered to the audience, and Hamlet, through the words of the ghost. We know that these ords are to hold significance as we have shared Horatio’s anxiety for the ghost to ‘stay and speak’ (I. i. 142). The appearance of the ghost is not enough. It is, therefore, the words that are spoken to Hamlet in conjunction with the apparition that help to creates the first piece of dramatic action in the play: Now, Hamlet, hear. ’Tis given out that, sleeping in my orchard, A serpent stung me – so the whole ear of Denmark Is by a forged process of my death Rankly abus’d – but know, thou noble youth, The serpent that did sting thy father’s life Now wears his crown. [†¦]Ay, that incestuous, that adulterate beast, With witchcraft of his wit, with traitorous gifts- O wicked wit, and gifts that have the power So to seduce! – won to his shameful lust The will of my most seeming-virtuous queen. (I. i. 34-46) What is striking about this scene is how it is dominated by the ghost and how little Hamlet actually says. If it were one of the lesser characters, it could be assumed that they were struck dumb and in awe of the presence of a spectre but, even this early in the play, we know enough about Hamlet to realise that this would not be the case for him.He mentions a few lines earlier that he is not afraid, saying ‘I do not set my life at a pin’s fee’ (I. iv. 65), so why now is he so quiet? Surely Shakespeare feels that Hamlet, like the audience, should be still with trepidation at the drama that is unfolding before them. In this short passage of the ghost’s speech we have incest, adultery, witchcraft, treachery, not to mention murder. Here we see Shakespeare using the power of words to create the action upon the stage, words that, like Ra tcliffe points out, enter through our ears as did Claudius’s poison. 11] Later on in the play we will see words used as poison, again by Claudius, when, in true Machiavellian style, he corrupts the mind of the vengeful Laertes. When discussing the power of words we must look at the play-within-a-play sequence of Act III, an aspect of the play which has been discussed at length by the critics but also one that brings into question another facet of action, that of acting. Hamlet is an extremely self-conscious play, bringing comedy into a highly dramatic moment in Act I, scene v when Hamlet asks the ghost ‘Canst work i’th’ earth so fast? (l. 170): this is an obvious comment on the crudeness of Elizabethan stagecraft. Earlier in the same scene Shakespeare has commented on the possibility of a bored audience when Hamlet comments on ‘this distracted globe’ (l. 97)[12] and, when Polonius states that when he played Caesar ‘Brutus killed me. â₠¬â„¢ (III. ii. 103) Jenkins points out that the actors playing Hamlet and Polonius were likely to have played Brutus and Caesar respectively in an earlier play and therefore are about to ‘re-enact’ the murder. 13] If we look at Hamlet’s instructions to the players: Speak the speech, I pray you, as I pronounced it to you, trippingly on the tongue; but if you mouth it as many of your players do, I had as lief the town-cryer spoke my lines. Nor do not saw the air too much with your hand, thus but use all gently; for in the very torrent, tempest, and, as I may say, whirlwind of your passion, you must acquire and beget a temperance that may give it smoothness.O, it offends me to the soul to hear a robustious periwig-pated fellow tear a passion to tatters, to very rags, to split the ears of the groundlings, who for the most part are capable of nothing but inexplicable dumb-shows and noise. I would have such a fellow whipped for o’erdoing Termagant. It out-Herods Herod. Pray you avoid it. (III. ii. 1-14) Again, we have a very self-conscious speech where there seems to be an in-joke upon the acting style of the actor who plays Polonius, if not intended by Shakespeare it could certainly be performed as such.There is also the awareness of audience as well in the comments about the groundlings which is rather a brave joke which, had they been enjoying the play, would have gone down in good humour. It might also be considered that Shakespeare followed up the joke by including the dumb-show that followed! If we look closely at the instructions, however, we notice the emphasis on the words rather than the action. The opening imperative is ‘Speak the speech’ and interestingly ‘as I pronounced it’ not as I acted or showed it which seems strange to say when instructing actors.It is true that in the restricted views of an Elizabethan playhouse an audience would go to hear a play but this would not be the case in a private cou rtly performance. Also we must remember that Hamlet is only concerned with one member of the audience; someone who, one might assume, would have the best view of the play. Hamlet’s instructions are followed by references to the tongue and mouth where the words must inevitably come from and then the simile of the town cryer again placing stress on verbal communication.Hamlet requests a limit to the ‘action’, the body movement – the acting- so that it is the language that is of paramount importance. In such a self-aware moment of the nature of acting and drama in the play are we not to assume that this is coming from Shakespeare as much as Hamlet? The players’ sequence has significance because here we have on stage the mechanics of Hamlet. There is the murder of Gonzago/Hamlet acted out on stage, the betrayal of Lucianus/Claudius and the union between the Lucianus/Claudius and Queen/Gertrude.Here Shakespeare gives us what we were denied in the first a ct the event which sets the whole play in motion. Not only that but by having Lucianus as the nephew to Gonzago we are also witnessing the events that are about to happen on stage or, at least, those that we expect to happen. Interestingly enough, though, is that Shakespeare has included a dumb-show as if to appease the groundlings despite his earlier comments but it is not through watching this that Claudius reacts but rather the words of the players that follows.At the line ‘On wholesome life usurps immediately’ (III. ii. 254) Claudius can no longer remain seated for he cannot deny the words, something that has been discussed and embellished by Ratcliffe. [14] The question as to why Claudius does not react to the dumb-show can be resolved in performance by choosing to have Claudius showing signs of discomfort throughout until he can finally stand it no more as in Olivier’s film version. There is nothing in the text, however, that suggests that this is how it sh ould be performed. The king questions Hamlet, Is there no offence in’t? ’ (III. ii. 227) and in this dialogue there is nothing to suggest that he is suffering from any anxiety regardless of how this line has divided critics. [15] So once again we see that it is words that have more power, more effect and more significance than mere actions. In looking at the philosophy of action in the play one must recognise that the play is essentially a revenge play and that all action must stem from the concept of revenge. Michael Mangan defines the revenge play as a play which: harts the protagonist’s attempts to [revenge]: this may involve a period of doubt, in which the protagonist decides whether or not to go ahead with the revenge, and it may also involve some complex plotting (in both senses of the word) as the protagonist decides to take revenge in an apt or fitting way. The revenger, by deciding to take revenge, places himself outside the normal order of things, and often becomes more and more isolated as the play progresses – an isolation which at its most extreme becomes madness. [16] It would appear, from this definition, that Hamlet is, indeed, a revenge play but who is it that seeks revenge?I would argue that it is not Hamlet for, as Catherine Belsey notes, ‘[r]evenge is not justice’[17] and we are reminded throughout the play that Hamlet seeks justice. For instance, Hamlet does not act rashly for he states: Give me that man That is not passion’s slave, and I will wear him In my heart’s core, ay, in my heart of heart (III. ii. 71-73) This might suggest that Hamlet holds reason close to his heart. Here we see that contrary to popular belief Hamlet is not a man that is ruled by passion but that is not to say that he is not passionate.If Hamlet were ruled by passion he would not have devised such an elaborate ploy to confirm the guilt of the king but would have acted straight away. Gone would be the procrasti nations and Hamlet could have roused up the populace as easily as Laertes does in Act IV, as Bradley points out[18], and Claudius would have been dead by Act II. Many critics that have argued this case seem to suggest that Shakespeare’s reason for prolonging the action was to fill out the five act structure of the play. [19] We are given three possible revenge heroes in the play: Hamlet we can discount, Fortinbras and Laertes.Shakespeare has provided these two characters to put Hamlet’s inability to act into stark contrast. Through Fortinbras we see the noble prince revenging the death of his father through careful planning and sharp resolve and in Laertes we see a rash young man whose desperate bid for revenge only quickens his own demise. It is important to note that even with the careful planning Fortinbras still shares Hamlet’s prolonging of the act when we consider that Denmark’s defeat of Norway was at the time of Hamlet’s birth some thirty y ears previous.Hamlet, however, does not seek revenge. He could have easily been able to exact it when he says ‘Now might I do it pat’ (III. iii. 73). The semantics of the word ‘might’ suggest that he has no intention of committing the murder. ‘Will’ or ‘must’ would imply a more decisive move yet Shakespeare gives us a Hamlet who is questioning his actions. His decision to spare Claudius whilst at prayer further indicates that it is justice and not revenge that Hamlet desires.Claudius points out to Laertes that ‘No place indeed should murder sancturise’ but Hamlet delays his action because he wants justice – a death for a death- like for like. Significantly, Hamlet is a revenger who is unable to act as Calhoun states he is unable to ‘play the role’,[20] or to use Ted Hughes’s metaphor: Like the driver of a bus containing all the characters of the drama, he hurtles towards destruction, in slow motion, with his foot jammed down hard on the brakes. [21] Having established the substance and value of words in Hamlet it is necessary to return to the question of dramatic climax in the play.It has always been recognised that it is a dramatic impossibility to act Hamlet on the stage in its entirety and it is not unknown for students of the text to skip through sections when reading but one thing always remains and that is the soliloquies. Within the play we have the most beautiful speeches composed in the English language and it is one of these that, I believe, forms the climax of the play. The climax of language that we are given in the play does follow the classic dramatic structure coming in Act III and at the risk of sounding cliched I would suggest that it is the ‘To be or not to be’ speech.It is in this soliloquy that we have the nub of the play rests and that is Hamlet’s internal conflict on how he should act. It has long been considered to be the musin gs of a troubled mind contemplating suicide and whilst no one will argue that Hamlet’s is not a troubled mind is he really deliberating the end of his own life? I would argue no. Shakespeare has already given us such ruminations earlier in the play with ‘o that this too too sullied flesh would melt’ (I. ii. 129) and I find it difficult to accept that a dramatist of Shakespeare’s calibre would not have developed his main character by the third act.In fact, I would argue that after confronting the ghost and hearing the charge against Claudius, Hamlet has been given new meaning to his life and that all thoughts of suicide have faded. ‘To be or not to be’ should read as ‘To do or not to do’ or ‘To act or not to act’ for it is in this speech that we witness Hamlet’s thoughts on whether to proceed with the killing of Claudius. Not once in the speech is there an ‘I’, nowhere does Hamlet refer to himself. His examples of the ‘whips and scorns of time’ (III. i. 70) save one do not seem to be justifications for taking one’s own life:Th’oppressor’s wrong, the proud man’s contumely, The pangs of dispriz’d love, the laws delay, The insolence of office, and the spurns That patient merit of th’unworthy takes (III. i. 71-74) Apart from unrequited love, for which many have taken their life, these seem to be the wrongs that are urging Hamlet to seek justice against Claudius. I might take this further and suggest a reading of the soliloquy where Hamlet knows that Claudius is eavesdropping, something that seemed to me implicit in Brannagh’s film. Through this reading we can see that Hamlet is acting a role for us as an audience but specifically for Claudius and Polonius.He is diverting attention from his true thoughts of murder whilst also confirming his ‘antic disposition’ (I. v. 180). In addition to this it explains why he apparently forgets the ghost of his father as he claims ‘No traveller returns’ (III. i. 80) as it would not be practical to reveal the truth at this stage. Also, the speech concludes that it is conscience that prevents him and the fear of the unknown when prior to this he has stated that it was because that God has ‘fix’d / His canon ’gainst self-slaughter’ (I. ii. 131-132).Arguably, this could be a variation of the same rationale yet there is a distinct change in tone which suggests a difference in attitude. Therefore, it is within this soliloquy where Hamlet reaches his decision which he reveals to Ophelia (and Claudius) when he says that ‘all but one – shall live’ (III. i. 150). One might argue that the opening line of this speech, ‘To be or not to be’ (III. i. 56), uncontrovertibly suggests that Hamlet is, indeed, reflecting on suicide but, once again, this is another self-conscious reflection upon the nature of drama.For Hamlet, the character in the play Hamlet, must act in order to ‘be’ and as a revenge hero, that act is the murder of Claudius. While Claudius is alive, Hamlet’s mind and soul are troubled and only through the act of revenge with ‘a bare bodkin’ can he bring about his ‘quietus’ (III. i. 75-6). Words, therefore, are the focus of this play. It is Shakespeare’s longest and in it we are given a character who ‘â€Å"comes alive† only in language’[22], it is through words that the dramatic action, except the final scene, takes place upon the stage.In terms of drama, the play is at odds with its form in that the driving action of the plot precedes the start of the play. We are given a revenge hero who is unable to live up to that title and only seems to spring into what one might call action when he has been hit by Laertes poisoned rapier and he knows that he is about to die, something which he poin ts out twice in the scene. Indeed, in performance, the final scene can be played as equally low-key as it can be played dramatic. In a self-conscious play such as this it seems clear that Shakespeare understands the power of words.To a dramatist, all action that can be created on a stage is a representation – one that is created through words. Crucially it is through language that the world of Elsinore is created and all those that exist within it exist through the words that they speak. It is, therefore fitting that Hamlet’s dying words are ‘the rest is silence’ (V. ii. 363) for he knows that without language he is nothing. Through Hamlet Shakespeare gives us a world where action is secondary to language because, in drama, one creates the other. 3967 words (exc. footnotes) 4338 words (inc. footnotes) Bibliography Primary SourcesShakespeare, William, Hamlet, ed. Harold Jenkins, The Arden Shakespeare, 3rd series (London and New York: Routledge, 1994) Stoppa rd, Tom, Rosencrantz and Guildenstern are Dead (London: Faber & Faber, 1967) von Goethe, Johann Wolfgang, Wilhelm Meister’s Apprenticeship, ed. and trans. Eric A. Blackall (Princeton, NJ: Princeton University Press, 1995) Secondary Sources Belsey, Catherine, ‘Revenge in Hamlet’, in Hamlet: Contemporary Critical Essays, ed. Martin Coyle (London: Macmillan, 1992), pp. 154-159. Bloom, Harold, Hamlet: Poem Unlimited, (Edinburgh: Canongate, 2003) Bradley, A. C. , Shakespearean Tragedy, 3rd edn. London: Macmillan, 1992), pp. 84-166. Calhoun, Jean S. , ‘Hamlet and the Circumference of Action’, Renaissance News, Vol. 15, No. 4. (Winter, 1962), 281-298. Dickson, Andrew, The Rough Guide to Shakespeare, (London: Rough Guides, 2005) Eliot, T. S. , ‘Hamlet’ in Selected Essays (London: Faber & Faber, 1951), p. 141-146. Fernie, Ewan, ‘Terrible Action: Recent Criticism and Questions of Agency’, Shakespeare, Vol. 2, No. 1 (June, 2006), 95-11 8. Hughes, Ted, Shakespeare and the Goddess of Complete Being (London: Faber & Faber, 1992), pp. 233-239. Jump, John D. , (ed. ) Hamlet: A Selection of Critical Essays (London: Macmillan, 1968), pp. 2-32. Kettle, Arnold, ‘From Hamlet to Lear’, in Shakespeare in a Changing World, ed. Arnold Kettle (London: Lawrence & Wishart, 1964), pp. 146-159. Mangan, Michael, A Preface to Shakespeare’s Tragedies (London and New York: Longman, 1991) Ratcliffe, Stephen ‘What Doesn’t Happen in Hamlet: The Ghost’s Speech’, Modern Language Studies, Vol. 28, No. 3/4. (Autumn, 1998), 125-150. ——————–, ‘‘Who’s There? ’: Elsinore and Everywhere’, Modern Language Studies, Vol. 29, No. 2. (Autumn, 1999), 153-173. ———————– [1] Johann Wolfgang von Goethe, Wilhelm Meister’s Apprenticeship, ed. and trans.Eric A. Blackall (P rinceton, NJ: Princeton University Press, 1995), p. 146. [2] T. S. Eliot, ‘Hamlet’ in Selected Essays (London: Faber & Faber, 1951), p. 143. [3] Tom Stoppard, Rosencrantz and Guildenstern are Dead (London: Faber & Faber, 1967), p. 86. [4] William Shakespeare, Hamlet, ed. Harold Jenkins, The Arden Shakespeare, 3rd series (London and New York: Routledge, 1994), subsequent references are to this edition. [5] Stephan Ratcliffe, ‘What Doesn’t Happen in Hamlet: The Ghost’s Speech’, Modern Language Studies, Vol. 28, No. 3/4. (Autumn, 1998), pp. 125-150. [6] ——————–, ‘‘Who’s There? : Elsinore and Everywhere’, Modern Language Studies, Vol. 29, No. 2. (Autumn, 1999), p. 153. [7] Ratcliffe, ‘What Doesn’t Happen in Hamlet: The Ghost’s Speech’, pp. 135-139. [8] A. C. Bradley, Shakespearean Tragedy, 3rd edn. (London: Macmillan, 1992), Lecture III, p. 93. [9 ] Ratcliffe, ‘What Doesn’t Happen in Hamlet: The Ghost’s Speech’ pp. 125-150 [10] Ibid. , p. 129. [11] Ibid. p. 131 [12] Having opened my Christmas presents and receiving Bloom’s Poem Unlimited after I had written this essay, I feel obliged to cite him for what I assumed to be an acute and original observation.If only Father Christmas hadn’t been so efficient, I could have at least pleaded ignorance! Harold Bloom, Hamlet: Poem Unlimited (Edinburgh: Canongate, 2003), p. 10 [13] Jenkins (ed. ), Hamlet, p. 294 [14] Ratcliffe, ‘What Doesn’t Happen in Hamlet: The Ghost’s Speech’, pp. 131-132. [15] Jenkins explains how the line has been used to show Claudius’s calm attitude to the play and to prove his unease in Jenkins (ed. ), Hamlet, p. 301. [16] Michael Mangan, A Preface to Shakespeare’s Tragedies (London and New York: Longman, 1991), p. 67. [17] Catherine Belsey, ‘Revenge in Hamlet’, in Haml et: Contemporary Critical Essays, ed.Martin Coyle (London: Macmillan, 1992), p. 154. [18] Bradley, Shakespearean Tragedy, p. 98. [19] Notably the anonymous critic in ‘Extracts from Earlier Critics, 1710-1945’ in Hamlet: A Selection of Critical Essays, ed. John D. Jump (London: Macmillan, 1968), p. 22. [20] Jean S. Calhoun, ‘Hamlet and the Circumference of Action’, Renaissance News, Vol. 15, No. 4. (Winter, 1962), p. 288. [21] Ted Hughes, Shakespeare and the Goddess of Complete Being (London: Faber & Faber, 1992), p. 236. [22] Ewan Fernie, ‘Terrible Action: Recent Criticism and Questions of Agency’, Shakespeare, Vol. 2, No. 1 (June, 2006), p. 96.

Nebosh IGC

It may be seen as an unproductive cost which conflicts with the requirement to keep costs low. An undesired event resulting in personal injury, damage or loss. A situation with the potential to cause harm or damage. (iii) The likelihood that harm from a particular hazard may be realized. (3) Unsafe conditions and unsafe acts. The number of people likely to be affected by the harm from a hazard, and the severity of the harm that may be suffered.Revision Question 2 Workers should: a) take reasonable care for their own safety and that of other persons who may be affected by their acts or omissions at work; (b) comply with instructions given for their own safety and health and those of others and with safety and health procedures; use safety devices and protective equipment correctly and do not render them inoperative; (d) report forthwith to their immediate supervisor any situation which they have reason to believe could present a hazard and which they cannot themselves correct; (e) rep ort any accident or injury to health which arises in the course of or in connection with work.Criminal – fines; Civil – compensation. External data sources include: National legislation (e. G. Regulations); Safety data sheets from manufacturers and suppliers; Government Enforcing Authority publications such as Codes of Practice and Guidance Notes; Manufacturers'/ suppliers' maintenance manuals; National/alienation standards; Information from local safety groups; Information from trade associations; Information from Journals and magazines. Internal data sources include: Information from accident records; Information from medical records and the medical department (if you have one);Information from company doctors; Risk assessments; Maintenance reports; Information from Joint inspections with safety reps; Information from audits, surveys, sampling and tours; Information from safety committee minutes. NOBLES International General Certificate 1-27 Revision Question 3 There should be a framework of roles and responsibilities for health and safety allocated to individuals throughout the organization, including the appointment of specialist staff and ensuring that general management roles and arrangements address health and safety issues.To ensure that the organizational arrangements, health and safety standards and operational systems and measures are working effectively and, where they are not, to provide the information upon which they may be revised. 1-28 NOBLES International General Certificate Setting Policy for Health and Safety I Element 2 Element 2 Why might the health and safety policy of two organizations, both undertaking similar work, be different? What are the three key elements of a health and safety policy? By whom should the policy be signed?What does a safety organization chart show? What responsibilities do all workers have relating to health and safety? 2-12 NOBLES International General Certificate Element 2 | Setting Policy for Heal th and Safety What forms the base for the plans for the systems, procedures and other measures required to put the health and safety policy into effect? State the three main forms of communicating health and safety information to staff. What are active monitoring systems? In what specific circumstances should a policy review be held?NOBLES International General Certificate 2-19 Because the policy is a reflection of the particular circumstances of each organization. Thus, any variations in size, nature and organization of operations, etc. , will mean that the health and safety policy will also vary. The general statement of intent, organization and arrangements. A senior Director or the Chief Executive Officer, indicating the organization's commitment at the highest level. The hierarchy of roles and responsibilities for health and safety, and the lines of accountability between them.To act responsibly and safely at all times, and to do everything they can to prevent injury to themsel ves and to fellow workers. Risk assessments. The three main methods of communicating health and safety information are the use of written procedures, provision of instructions and provision of appropriate training. Active monitoring systems are those which seek to identify deficiencies in current arrangements before any resulting accident. They include testing, inspections and consultation procedures, as well as management controls to ensure compliance.The circumstances which should give rise to reviews, either of general policy or specific aspects of it, are: Changes in the structure of the organization, and/or changes in key personnel. A change in buildings, workplace or worksheet. When work arrangements change, or new processes are introduced. When indicated by a safety audit or a risk assessment. Following government enforcement action or as the result of the findings from accident investigations. Following a change in legislation.If consultation with workers or their representa tives highlights deficiencies. If requested by a third party. NOBLES International General Certificate 2-21 Element 3 | Organizing for Health and Safety Element 3 Outline typical duties of employers to workers. Outline common duties of workers. What are the responsibilities of employers to people who are not their workers? Where business premises are rented, is the employer responsible for health and feet matters relating to points of entry to and exit from the workplace?NOBLES International General Certificate 3_11 Outline the areas of responsibility placed on people in the supply chain for the articles and substances which they supply to workplaces. Outline the responsibilities of the client and the contractor where a contractor is working in the client's own workplace. 3_17 Organizing for Health and Safety I Element 3 How may employers consult workers? What are safety circles? 3-20 NOBLES International General Certificate The general duties of employers are:Provision of adequate instruction, training, supervision and information necessary to ensure the health and safety at work of workers. Provision/maintenance of safe plant/equipment and a safe system of working. Provision and maintenance of a safe workplace (including a safe way of getting to and from that place of work). The two general duties of workers are: To take reasonable care for their own health and safety and that of other persons who may be affected by their acts or omissions at work. To co-operate with the employer so far as is necessary to enable the employer to fulfill his legal obligations.Employers must make adequate provision to protect third parties from harm as a result of their work activities by: Conducting their undertakings in such a way as to ensure that people not in their employment who may be affected by their activities are not exposed to risks to their health and safety. Giving people who are not their workers sufficient information regarding the undertaking as might affect th eir health and safety; for example, details of potential hazards. It would depend on the terms of the tenancy agreement. Responsibility lies with the person who may be said to control the particular aspect of the premises.

Critical_Thinking and leadership Essay Example | Topics and Well Written Essays - 2500 words

Critical_Thinking and leadership - Essay Example We attempt to work out increasingly more and more advanced strategies, using increasingly more and more modern approaches and methods. Herewith we often overlook that not everything that works in the West, will work in Europe same efficiently and successfully. We have different markets, different management, and other mentality. In Europe we should concentrate on a little bit more simple strategies, because first of all any strategy should be understood by everybody, and in first instance by customers. Therefore let us consider some simple rules, which are effective in dynamic markets because they partially guide actions and yet also enable the flexibility of real-time, improvisational response to meet the demands of a changing environment (Brown & Eisenhardt, 1997; Miner et al., 2001). In January 2001 Harvard Business Review article, "Strategy as Simple Rules," Kathleen Eisenhardt and Donald Sull argued that the secret of success in rapidly shifting markets lies in strategy as simple rules. The authors discover that the success of companies such as Yahoo!, eBay, Google can not be interpreted by using traditional approaches to competitive strategy. There two approaches to competitive strategies that are represented in the literature. The first one is resource based view, which is in conce... They are enable sustainable competitive advantage both in current markets and through leverage into new ones, and superior performance (Amit & Schoemaker, 1993). The second approach is strategic positioning. According to this approach managers of firms strive to occupy a defensible position in their respective industries aiming to reach a sustainable competitive advantage and superior performance (Porter, 1980; 1991). To the extent that this configuration and its related activity systems are difficult, slow or costly to achieve, incumbent firms are secure in their current competitive advantages (Caves & Porter, 1977). It should be mentioned that these approaches are effective enough in a stable market environment. Strategy as simple rules set this competitive advantage in an unpredictable environment full of "sudden-death threats" and "golden opportunities". According to Sull (2005), companies in unpredictable environments compete in their ability to respond to sudden-death threats, or to minimize their potential impact, on the one hand, and on the other one in the ability to seize potential golden opportunities. Instead of using approaches of competitive advantages, the above mentioned companies have excelled at changing in order to act and develop in accordance with the demands of constantly changing environment. These companies preferred not to survive in markets that were previously regarded as difficult, but let their strategies to evolve at every turn. Eisenhardt and Sull (2001) discovered that the most successful companies use key strategic processes in order to identify areas, in which concentration of potential opportunities is the greatest. Simple rules are useful for

Markting 3000 Essay Example | Topics and Well Written Essays - 1250 words

Markting 3000 - Essay Example The behavioral pattern of the people, in the decision making process of buying products and services, helps provide important clues for preparing appropriate market strategies so that maximum mileage could be garnered for the products. The paper is an attempt to study the consumer psychology that culminates in purchase of goods. Two consumers, who had bought cars, were studied for the learning processes that led to their buying decision vis-Ã  -vis five major factors: need recognition; information search; evaluation of alternatives; purchase; and post purchase dissonance. The consumers had come from diverse socio-economic background and their purchase psychology would significantly provide a wider spectrum of important clues for marketers. The interviews consisted of same set of questions regarding their pre and post purchase psychology and the factors and issues that had considerable impact on their decision making process. Consumer A belonged to an affluent class and was working in a multinational company as a System Analyst. He had bought a Mercedes’ Benz. Consumer B was a Teacher in a semi urban locality and belonged to a middle class society. He had bought Honda City. As per their responses, it was found that both the consumers had different need recognition that was driven by their beliefs, attitude and lifestyle imperatives. Consumer A was conscious of his social status and wanted a car that would add value to his lifestyle. He therefore, wanted a high end, flashy car that would also give good return vis-Ã  -vis his investment. Consumer B’s requirement was primarily need driven because of the long and time consuming public transport to his workplace. He, therefore, required a sturdy, low investment and comfortable family car that would be economic as well as reliable. He was, therefore looking for a medium range, practical and comfortable car. The information search

ETHICS IN THE PROFESSION Essay Example | Topics and Well Written Essays - 1000 words

ETHICS IN THE PROFESSION - Essay Example â€Å"Investments involve the transfer of necessary, existing risk from one party to another. This doesn't mean that every investment is good or wise or safe, of course† (Rodeback). However, many others are of the view that investments cannot be considered as an unethical activity since most of the investments are used in the constructive purposes of the nation. They believe that there is no point in keeping the extra money in shelf and it is better to deposit it in legitimate channels. This paper makes a case study to analyze whether investments are ethical or not. Investments can be classified into three broad categories; private investments, entrepreneurial investments and social investments. In private investments, a person is lending his resources for buying ownership in enterprises for the sake of that person’s own enrichment. In other words, the motives of the investor are selfish. Such investors will invest their money based on the chances of getting more return s. For example, share trading is one of the major private investment channel in which many of the greedy individuals invest their money for maximizing their returns. However, the risks associated with such investments are more even though the chances of higher returns are high. It is often quoted that 90% of traders lose, which leaves only 10% of traders as consistent winners. The 90% of traders that lose in the markets are those for which trading is just another form of gambling whereas for the winning 10% it is a business (Wreford) From the above statistics, it is clear that both the winners and the losers in trading approached the trading activity with a wrong intention. The winner treated trading as another form of business and the loser approached it as another form of gambling. Business is always motivated by profit-making and thus it becomes unethical. On the other hand, many other people invest term deposits which offer fixed returns on maturity. Such deposits are safer even though the investor may get only a fixed amount of return. Non-greedy investors may invest in such investment schemes and we cannot argue that their activity is unethical since their motives were not selfish. In short, investments which offer high returns with higher risk are unethical whereas investments which offer fixed returns with minimum risks are ethical in my opinion. In other words, investments which generate high levels of risks can be considered as unethical investments. Entrepreneurial Investment is the second category of investment. In this type of investments, a party is lending or giving resources to enterprises for the sake of the success of that enterprise. The success of the enterprise will indirectly influence the economic success of a nation. For example, recently big organizations in America collapsed as a result of recent recession and subsequently, American economy also showed signs of destruction. Many people lost their employment because of the destruction of organizations and economy. If an investor invests in such organizations, the chances of recovery for that organization may increase even though the investor’s chances of losing money will also be increased. The recovery of the organization may help employees to protect their employment. In other words, the investor helped the organization and its employees immensely by putting his own

Consumer behaviour report Essay Example | Topics and Well Written Essays - 2500 words

Consumer behaviour report - Essay Example Table of Contents Executive Summary 2 List of Figures and Tables 4 Introduction 5 Problem Statement 5 Research Background 5 Research Limitations 7 Literature Review 8 Theory of Planned behaviour 8 Automobile Industry 8 Key Insights 11 Research Methodology 12 Research Design 12 Research Methods 12 Data Collection 12 Primary Research 13 Secondary Research 14 Findings and Analysis 15 Findings 15 Primary Research 15 Secondary Research 19 Proposed Marketing Strategies 21 Conclusion 25 Reference 26 Appendix 1 Questionnaire 28 List of Figures and Tables Figure 1 Theory of Planned Behaviour 8 Figure 2 Age 15 Figure 3 Gender 16 Figure 4 Source of Information 16 Figure 5 Factors influencing buying decision 17 Figure 6 Preference of Hybrid car 18 Figure 7 Reasons of hybrid car selection 18 Table 1 Secondary Desk Research 14 Introduction Problem Statement To understand the factors affecting consumer behaviour and consumer decision making process for the hybrid car products. Research Background A utomobile market is flooded with various choices of models to cater needs of consumers of different categories. There are many companies like Toyota, Ford, GM, Honda, Suzuki and others operating in the global market place and serving varying needs of consumers and markets. ... Ford is a well established brand name in the premium segment. The trend of manufacturing of environment friendly hybrid cars which reduces the level of pollution resulted from the traditional cars and engines have increased. Increasing awareness created demand for such environmental friendly products. Toyota has launched maximum number of successful variants in this category. At the same time other companies are following Toyota to gain from this growing segment by developing their own hybrid products. Lesser carbon di-oxide emission and higher environmental friendly nature increases the social acceptance of such cars. However there are technical limitations of these cars where researches are continued. The main hybrid variants available in the market place are the Toyota Prius, Honda Insight, and the Honda Civic Hybrids. Research Aims Research aim is to study consumer behaviour of the prospective automobile buyers for the hybrid cars in the Australian automobile sector. Research obj ectives: To understand the factors that affects the consumer decision making process To explore the marketing mix strategies adopted by the marketers in the marketing of different hybrid cars. Research Rationale This research helped in studying various aspects of the consumer behaviour for the hybrid car segment and developing a better strategic approach for the marketing of these products. Research Limitations Time, resource and location based restrictions are the primary set of limitations. Within the scope of study, researcher tried to fulfil the research aim and objectives. This study can be furthered for in-depth study on deep analysis of the focus of companies in hybrid car segment and capturing changing trends in

Special education paraphrase Essay Example | Topics and Well Written Essays - 750 words - 1

Special education paraphrase - Essay Example Normally different professionals have various levels of commitment to collaboration. Thus, their perceptions coupled with one’s standpoint determine the number of chances one will have to take part in collaboration or whether much of the work will be completed without much support. 2. Communication skills-Communication skills comprise facial expressions, posture as well as other nonverbal signs in addition to the choice words and the way they are expressed. Communication skills can easily be taught and learnt in various university courses. Collaboration can greatly be developed or inhibited by communication skills. When one is positively interacting and all is well one need not have exceptional communication skills. Nevertheless, communication skills are crucial in awkward or controversial situations. Communication skills cannot be developed overnight and they should be practiced so that one may have them handy when situation demands. The following strategies and concepts are particularly crucial for educators in addition to illustrating the significance of communication skills for purposes of collaboration; One should start with listening so as to enhance his/her communication skills for collaboration. Listening can be challenging due to interruptions that may arise such as when having other thoughts of maybe another student or an upcoming conference may make someone so tired thus making it hard to follow what the speaker is saying or the information being said may confuse somebody.Secondly effective communication skill takes place when you encourage someone else to continue speaking by use of nonverbal signs. For instance when a mother is explaining the favorite play activities of her child, one’s smile is likely to positively influence the mother to say more. In addition communicating through one’s body conveys crucial messages without interrupting the speaker. Thus for instance when one is nodding and

Assignment Example | Topics and Well Written Essays - 250 words - 137

Assignment Example Thus, the equation is equal. Adding the exponents is just the shortcut in doing the multiplication of equation with different exponents. 2. The equation  is not equal to . As you can see, when you substitute the variable with the quantity 2, the first equation will yield 24,576 while the second will result to 2,304, which are not the same values. Thus, it is wrong to assume that in raising a power to another power you add their exponents. Instead, the exponents will have to be multiplied. Here is what will happen to the given equation: To test if the equation is correct, substituting the variable with any quantity will yield the same results. For example, substituting the variable with number 2 will result to 24,576 to both sides. As you can see, the only way to raise the power with another power is to multiply the exponents. 3. We can simplify the equation  + 3  because they have the same base raised to the exponent 4. As a general rule with addition, you can only add like terms. In simplifying the equation using reverse distribution method, here is what will happen: The common term common to both the sides taken as general factor is . Thus, the equation is simplified. On the other hand,  + 4  can not be simplified further because the base p is not raised to the same power. You can not add unlike terms. Thus, the equation can not be simplified

What Makes People Attractive to Others Essay Example | Topics and Well Written Essays - 1000 words

What Makes People Attractive to Others - Essay Example This is because this is the prime age for young yet ambitious women to prepare themselves for the real world once they graduate. Attraction, having a subjective dimension to it, can have a physical association as well a far more deep attraction related to a person’s behavior. The preference of one over the other is dependent on specific situations and people young college women come across. Hence, it can’t be objectively defined. Therefore, this paper would discuss the essential aspects which make certain women attractive to others. Physical attraction plays an important part when interacting with people of your own age, especially people of the opposite gender. Women, aiming to be popular in their college and elsewhere are at an advantage when blessed with attractive features. Studies have shown that symmetrical features in women attract men. â€Å"A possible cause of that fluctuating asymmetry is exposure to oxidative stress in the womb which interferes with proper d evelopment. The embryo requires energy to develop properly† (Independent Digital News and Media).Therefore, college going women with perfectly symmetrical features, who have been properly nourished even when in the womb, are highly likely to grab men’s attention. Moreover, college women searching prospective dating partners should abandon the cliched playing â€Å"hard to get† attitude as verified by a bbc research. College women are attracted to those that are hard to get for others but easy to get for them. This is further supported by the â€Å"selective difficulty† theory (Science: Human Body & Mind). Some studies have shown that men are especially attracted to women with a low hip ratio – small waists, large hips and long legs (Feng). Therefore, young women can groom themselves to have the above mentioned physical qualities to attract men towards them. Moreover, elements such as behavior and personality can be attractive too, but popularly seco nd in preference. Mostly, selfless or altruistic behavior attracts men towards women. Hence, in one’s dealings it is preferable to have a selfless demeanor. Furthermore, according to a study women who are more interactive and seen more have a higher probability of attracting attention as compared to those who hardly take interest in their surroundings. Richard Moreland and Scott Beach (1992) demonstrated this affect by arranging groups of four women in college classrooms(Smith and Diane).Women who were seen more often were found more attractive to the college mates rather than the ones who attended fewer classes. The more, philanthropic, caring and altruistic you are, the more attractive you seem to others. This holds true for women as well. With regards to personality characteristics that attract people, the individuality of a person which makes her stand out attracts attention (Smith and Diane) Furthermore, Eliott Aronson, a social psychologist at Stanford University, sugge sts based on research that people who feel they are attractive - though not necessarily rated as such - are just as successful as their counterparts who are judged to be good-looking (Feng). This shows that self-confidence is also a means of attracting other people. Therefore, college going ladies who want to be successful by attracting people are recommended to have faith in themselves. This is applicable mostly when going for internship interviews and while attempting to attract the instructors’ attention during class presentations in colleges. According to a study by the Federal Reserve Bank of St. Louis, good looking people make more money than ordinary looking people (Secrets of

Investment Strategies Employed by McDonald's Essay

Investment Strategies Employed by McDonald's - Essay Example With every organization expanding their horizons and making an imprint in various markets, the finance department had to put in an extra effort to formulate strategies to reach company’s financial target. So, this paper will focus on the American food major, McDonald’s and will discuss the major successful strategies adopted by it to deal with international finance and investment issues, then evaluate its performance overall in relation to those financial issues and finally will pick up the potential challenges it could face in the 21st century in the financial segment of its functioning.   McDonald’s, the world’s largest chain of fast-food restaurants, went through ups and downs in its 60 years of functioning, in every aspect of the organization including the financial aspects. Financial aspects, which are the lifeline of any organization, needed to be handled or solved first for the organization to succeed or even survive. In the case of McDonald’s, financial issues have not given any major troubles before 2000. After early 2000 only, McDonald’s faced financial problems and that only led to the implementation of various strategies, which turned out be successful. One of the successful strategies adopted by McDonald’s to deal with its international finance and investment issues is its â€Å"Plan to Win† strategy. Using this strategy, McDonald’s brought wholesome changes, particularly changing the financial issues to the positive side. That is, it introduced new health friendly dishes, refurbished the store’s e nvironment and also signed new celebrities to promote the product and store. â€Å"Plan to Win, a combination of customer-centric initiatives designed to deliver operational excellence and leadership marketing leveraged around five drivers of exceptional customer experiences - people, products, place, price and promotion† (biz.yahoo.com).

Gay Community Essay Example for Free

Gay Community Essay The gay community or LGBT community is a loosely defined grouping of LGBT and LGBT supportive people, organizations and subcultures united by common culture and civil rights movements. Furthermore, the remarkable growth of the gay community in recent history has revolutionized our culture and consciousness, creating radically new possibilities for people to â€Å"come out†, and live more openly as homosexuals. Before the early years, homosexuality was a taboo subject. Since then, times have changed and this community is somewhat being accepted. Moreover, this diverse community is constantly expanding, and consists of many types of people. The gay community has gained great attention in arts, entertainment, media, and politics. Most of the people that make up this community each have their own unique style in all different aspects. Consisting of races throughout all aspects of life, the gay community is worldwide. That being said, what makes up the gay community? Within the LGBT communities, there exist identifiable sub-communities, such as the leather community, bear community, chubby community, lesbian community, bisexual community, transgender community, and the drag community. Nevertheless, each one of the sub-communities have there own particular ways and views of there sexuality. In other words, they all stick together. The gay community generally celebrates pride, diversity, individuality, and sexuality. The term gay pride is used to express the LGBT community’s identity and collective strengths; gay pride parades provide both a prime example of the use and a demonstration of the general meaning of the term. Also, within the gay community some people create there own particular family. These families consist of the mom, dad, children, and so on. They create a bond and they indeed stick together. Other interests within the gay communities include gay nightclubs, pageants, balls, and also lip singing shows. The gay community is frequently associated with certain symbols; especially rainbow or the rainbow flag. The Greek lambda symbols (â€Å"L† for liberation), triangles, ribbons, and gender symbols are also used as gay acceptance symbol. There a many types of flags to represent subdivisions in the gay community but the most commonly recognized one is the rainbow flag. Nevertheless, each color represents a value in the community. Pink represents sexuality, red represents life, orange represents healing, yellow represent the sun, green represents nature, blue represents art, indigo represents harmony, and last but not least, violent represents spirit. As far as language, the gay community have there own slang, just as other slangs like African Americans, Jewish slang, Hispanic slang, or any other slang. Usually one must be in the group to know its slang, but there are many words in gay slang that are known to all of us, such as drag queen, butch, or bull dyke. Other newer gay slan g words used today are fag-hag, which is a straight female who prefers the company of a gay male and dish which means gossip. Communication between gays, what they say opposed to how they say it, is quite unique. For instance, many gay males use alternate â€Å"lady-names†, and masculine female use alternate â€Å"male-names†, both used as a form of address within gay circles. The gay community is continuously growing and has been acknowledged in so many ways. Homosexuality is seemingly more accepted and tolerated in the United States today than decades ago. There are laws in many states that make it a crime to discriminate based on sexual orientation and many communities across the country have gays and lesbians openly serving in important roles. Yet there are many who still oppose homosexuality and many object to it on religious grounds. I do pride this community because I am apart of it. But like the old saying says â€Å"To each is his own†. Everyone has there own opinion.

Review On The Banc One Finance Essay

Review On The Banc One Finance Essay Banc One was founded in 1863 and headquartered in Columbus, Ohio. The bank has accumulated a total of $76.5 billion assets and produced revenues of $4.3 billion by 1994, being the 8th largest in the country. Banc One can be seen as a three tiered organisation. The first tier controlling five state banks and holding 42 subsidiaries, the second being a regional affiliate group and holding 36 subsidiaries and finally ten non-banking organizations, varying from insurance to data processing. Its parent company employed around 100 workers, of which 12 were working in the Asset and Liability management which is going to be explored in this report. (Kusy et al., 1986) How does Banc One manage its interest rate exposure? In this question it will be necessary to determine how Banc One hedges itself against changes in interest rate levels and what the possible risks it faces from such changes. As a foreword, it has to be understood that if a bank was to be perfectly matched in terms of its assets and liabilities, then any change in the interest rates would have offsetting impacts on both the asset and liability side. Hence the bank would never feel the effect of changing interest rates. However, in a real world situation, especially for a bank this size with its big asset and liability portfolio (assets $76.5 billion), it is quite impossible to be perfectly matched, nevertheless this must be attempted. (Saunders et al., 2006) Prior to 1980, Banc One was seen to be improperly measuring its interest rate exposure by trying to add assets to its investment portfolio until it was felt that the fixed rate investments offset the fixed rate liabilities. As well as to this, they were evading long term investments, in the belief that such prolonged investments will bring pointless risks to its investment portfolio. (Esty et al., 1994) By 1980, when the second oil shock hit hard and volatility exceeded in the market, Banc One finally understood that they have to adhere to the task of measuring their interest rate risk due to some investments bringing losses to the organization. Hence in 1981, they started measuring their maturity gap, which grouped all of its assets and liabilities into categories, adjusted to their repricing-adjusted maturities (amount of time an interest rate remains fixed on a contract). The repricing-adjusted maturities was split (12 months) and a value of assets minus liabilities derived to. This was a key figure for the bank to understand their net interest margin, i.e. interest rate received on assets minus interest paid on liabilities and therefore earnings. This was great for the bank to play around with and to understand how interest rate changes could affect its earnings. However, a problem was faced, which was that this task was far too time consuming, taking a year to produce a single gap management report which by the time of publishing would be out of date already. (Esty et al., 1994) In the same year, Banc One was generating 13% in money market short-medium term investments, 21% in longer-term securities, such as municipal bonds, which had a larger spread due to no tax incurred. As of 1984, Banc One started using asset and liability simulations to improve its prediction for interest rate exposure. By indicating the exact asset and liability portfolios they were able to estimate how interest rate changes would affect their earnings. The procedure was that, firstly, a so called online balance sheet was created that contained the most recent information on its assets and liabilities, for example key features of each contract, the principal amounts, interest rates, maturity dates and amortization of assets and liabilities, as well as historic information. Finally, when the model was complete, they could simulate how an interest rate change would affect its balance sheet and earnings. These predictions were being run monthly and outcomes helped the bank to make changes in its interest rate positions. It was later developed further by introducing an automatic system which would download all of the available loans and deposits on each customer to derive to a better prediction on the banks exposure to interest rates. What role do derivatives play in its interest rate management? Banc One has been seen to start using interest rate swaps from the 1980s. An interest rate swap is an agreement between two counterparties in which one party swaps its fixed payment interest stream with the other party for a floating payment stream that is linked to an interest rate benchmark, usually being the LIBOR. From 1983, Banc one began using interest rate swaps, the procedure was that first they bought municipal bonds and received a 9.5% yield, after which entered into an interest rate swap which paid a fixed rate of 7% (LIBOR) and hence received a net position of LIBOR +2.5%. However, using interest rate swaps has caused some of the financial data to be distorted, for example if the derivatives were included in the balance sheet then their margin would have been 1.31% lower and their return on assets lowered by 0.2%. After they have started using interest rate swaps, it was seen that they would depend more on large short-term borrowings, also the swap positions affected the amount of risk-adjusted capital they held. The impact was also seen on the net interest margin, as well as the return on assets and equity. The bank presented a set of financials and compared these to two twin banks. One, which was exactly the same as Banc One except that it brought its swaps onto the balance sheet by replacing the notional principal of its receive-fixed swaps with investments in fixed-rate securities funded by variable-rate borrowings. This bank would differ in its accounting performance, dependence on large liabilities, and capital levels. First, swaps improved Banc Ones liquidity. They also freed up capital for short term investment which provided cash when needed to repay liabilities such as CD withdraws. Second, the off-balance sheet accounting of swaps increased ROA and ROE. The receive fix rate swaps did not appear as an asset or a liability, but were disclosed in footnotes to the financial statements. Yet gains and losses would still be placed on the income statement. If the bank were to use a traditional hedge, buying a fixed rate bond and selling a floating rate security both would appear on the balance sheet: the net result being to lower traditional profitability measures. Finally, the stress over meeting the minimum capital requirements was deduced as swaps did not use much capital. They started using swaps instead of conventional fixed-rate investments. swaps were attractive investments that lowered the banks exposure to movements in interest rates. Instead of investing in medium-term U.S. Treasury obligations, it could simply enter into a medium-term receive-fixed swap and put its money into short-term floating-rate cash equivalents. Interest rate swap in which it paid a floating rate of interest and received a fixed rate in return this would increase a banks fixed-rate inflows and reduce its periodic floating rate inflows The second would invest in floating-rate loans and investments (instead of fixed-rate investments) and in floating-rate assets financed by floating-rate deposits (instead of swaps). This bank did not manage its interest rate sensitivity. exposure to interest rate risk is determined by simulating the impact of the prospective changes in interest rates in the results of operations. Management seeks to insure that over a one year period, net income will to be impacted by more than 4 percent and 9 percent by a gradual change in market interest rates of 1 percent and 2 percent, respectively. The chief Investment Officer did not understand why everyone was unhappy about swaps which was an investment which lowered the banks exposure to movements in interest rates and in 1993, they held a In 1993, a meeting took place after the $10 drop in Banc Ones stock price. Banc one did not understand why everyone was criticizing their use of derivatives (swaps). Many of the investors and market players did not really understand how to use swaps and thought that this was a risky investment, however Banc One grasped this investment style and was using it very well to their own advantage in their asset and liability management. The bank was faced with three options. First, not to do anything and hope that share price will recover over time as investors would realised that derivatives were helping the bank manage interest rate and basis risk. Second, they could reduce their derivative position. Thirdly, they could attempt to educate investors about the use of derivatives by showing more of their positions. None of these three is what Banc One decided on, what they did was create a financial summary and presented it to the market presented on the next slide. Swaps instead of investing in medium term US treasury obligations it would enter into a medium term receive-fixed swap and put its money into short term floating rate cash equivalents. (this way they improved liquidity with stable principal values; also swaps are off-balance sheet transactions for receive-fixed swap this way banks return on assets would be overstated; also swaps reduce the amount of capital needed to meet regulatory requirements) Why is Banc One liability-sensitive? In the 1980s Banc One was seen to be asset sensitive which was mostly to do with its acquisition scheme, where their acquired portfolio reached more than 75 banks which were all high asset sensitive banks. Asset sensitivity is the name given to a position where the deposit (liability) is fixed, whilst the loan (asset) might be changing. In the 90s, this has changed and the bank seemed to have turned liability-sensitive due to the use of interest rate swaps in which a floating rate was paid and a fixed rate in return was received. These transactions were giving the impression on the balance sheet that the bank was earning a floating rate liability and at the same time investing into a fixed rate asset. Banc One, being a liability sensitive bank, indicates that their loans (assets) are fixed, whilst the deposit (liability) is moving up or down. Therefore only a drop in interest rate will bring a higher net interest margin, as the spread between the fixed deposit and the floating dropped loan would widen, creating more profit for the bank. However if an interest rate rise was to incur, then this would mean that its floating rate payments would alter its financial data by boosting the interest expense, and with interest income staying on the same level this would set Banc One as a liability sensitive bank. Should it be liability-sensitive? Banc One has turned liability-sensitive as it may have been anticipating that the interest rates would drop and thus profit could have been made, as is shown in the liability sensitive bank table in the last column where the interest rate has dropped. However, if their prediction is wrong and the interest rate goes up then they will make a loss, as shown in the same table, column 3 from left. A bank can restructure its position whichever way it wants, if a bank bets that interest rates will go up then it could turn asset sensitive and fix its deposits (liabilities) and use a floating rate for their loans (assets) in order to make profits. For a bank which bets the opposite, a liability sensitive position can be taken by using the same method described as for the asset sensitive, just reversed, such that was taken by Banc One. From the graph shown below (Interest Rate and Spreads) it is now clear why Banc One has become liability-sensitive from its previous position. This is due to the fact that prior to the 90s the bank would fix its deposits, either using the LIBOR 3 month or the 2 year US Treasury, however then it was more preferable to lock the deposits in the 3 month LIBOR as the rate was lower and a more liquid position could have been sustained. However, after the drop in the rates in 1984-1986 and 1989 and thereafter Banc One would have been facing problems if to continue sustaining its position at the fixed deposit level, as the loans were under the deposit level and the bank could not get out of its obligatory 3 month or 2 year position. Therefore it started using swaps, and with undertaking swaps, this has reversed its position to swapping its loans from floating to becoming fixed, as they received a fixed return or with deposits becoming floating, as they paid a floating amount, whichever was m ore preferable. In Banc Ones case it seemed that swapping the fixed deposit, into a floating deposit would be viable as they had to get out of a loss making position, if the market was dropping. Deriving from the above mentioned, Banc One should be liability-sensitive in the case where it is making a loss on its current positions due to changing interest rates and thus utilising a swap, however its original positions undertaken in the beginning (before the interest rate moved out of favour) might be still as of an asset-sensitive bank, therefore it can be said that swaps distort the banks image. (Esty et al., 1994) References Esty B., Tufano P., Headley J., (1994). Banc One Corporation, Asset and Liability Management, Harvard Business School. Saunders A., Cornett M. M, (2006). Financial Institutions Management: A Risk Management Approach, McGraw-Hill. Kusy M.I., Ziemba W. T., (May-June 1986). Operations Research, A Bank Asset and Liability Management Model, Vol. 34, No. 3, pp. 356-376, Informs. Bitner J. W., Goddard R. A., (1992). Successful bank asset/liability management: a guide to the future beyond gap, John Wiley Sons.

The Theory Of Supply And Hilton Hotels Economics Essay

The Theory Of Supply And Hilton Hotels Economics Essay Hilton hotels are among those hotels in world who provide all facilities that a normal person expects from caterings to business travel and leisure guests. They own more than 2700 hotels around the world starting from Europe to Asia. Their online sales at present are at the top of the list compared to other hotels. The hotel was founded in the year 1919, and the founder of Hilton hotel is Conard Hilton. Conard Hilton was a well disciplined and determined person who always had a keen interest in expanding the hotel space by every square foot so as to make the customers happy feel comfortable. In the year 1919 in Cisco, Texas, the first Hilton hotel was constructed by Mr. Hilton. And the Paris, the granddaughter of Conard Hilton, who has estimate $300 million family fortune. She is one of the hotel magnates of this huge Hilton organisation. Conard Hiltons (1887-1979) birth place is San Antonio. He made a statement that the hotel established by him was one of the best in all cities and he posted the phrase Take me to Hilton. Hilton hotels are popular for offering high class accommodation facilities for their guest in the busy destinations. Mp3 friendly alarms are established for the guest to wake up and the guest has full freedom to select his or her own tunes for the day. They are famous for the level and comfort that they provide to their customers. At present the Port of San Diego and Hilton are planning to establish a hotel with 1200 rooms on the waterfront adjacent to the San Diego Convention Centre. With the hard work and dedication by the meeting planners of Hilton hotel the H Honours program effectiveness has grown from 34% in 2002 to 40% now. Using the same business rate stay, the program members earn both H Honours points as well as airline miles, and this is usually called as Double Dipping. And there is a card called The American Express Hilton H honours Program Credit card through which a customer can earn points and have a free stay at Hilton hotel as well. Hilton Malta which is one of the most prestigious hotel promises the words best in accommodation for their customers, with high class treatment and service. The top priority chain of Hilton is their business travel. Using this they have made a huge change in their organisation as well. Since 1919, every time they have opened a way for new innovations for executives. The Managing Director of Sales in Business Travel for Hilton Hotel Corporation at present is Maureen Mackey. Hilton hotels are at present the official hotel group of uk. They have more than 2700 hotels around the globe at present. Supply The theory of supply considered as one of the fundamental theory in the economics. According to the economic point of view supply means that the amount of the product that producers willing to provide at a particular price over a given period of time. Law of supply Law of supply means that when other things are equal there will be a direct relationship between price and quantity of supply. We can explain easily with a diagram In this diagram x axis shows that quantity of supply that provided by producers to customers and y axiss explain price of the product. The first time price is p1 and quantity of supply is q1. Then there is a increase in price from p1 to p2 as a result supply also increases to q1 to q2.this is considered as theory of supply Factors affecting Supply There are many factors that affecting supply of a commodity or services the main factors are Price of the commodity: There is a direct relation between price and supply of a product or service. That means when price of a commodity increases producers try to sell more unit of the product. Because main goal of every firm is to achieve profit. When price increases producers try to achieve more by increasing supply of that product or services Price of factors of production Factors of production also influence supply. The word factors of production is mainly included land labour..etc .so when price of factors of production increases producers cannot supply much to consumer. On the same time he can increase his production or he can supply more products when the price of factors of production decreases Prices of other commodities: Price of other commodities means that in a company producer produce two products on the same time. But the quantity of the product supplied will be different. Because it depends upon the price of product. That is if one commodity got high price firm try to supply more of that commodity Change in cost of production: like factors of production cost of production also important in change in supply. Because firm can supply more unit of product by reducing cost of production Technological advancement: technological advantage is very important in every part of product. That is there is a direct relation between technology and supply. When technology improve supply also improve Climate: weather or climate is always influence change in supply. When there is a good climate Firm can supply a good quantity of product Taste and preference Taste and preference always help firm to achieve increase in supply. That means if firm can produce goods which can satisfy peoples taste then producer can supply a good amount of product Tax rate Tax rate and subsidies plays an important role in supply of a product. There is a relation between both of them. For example if tax rate of a product or services increases producers try to reduce the supply of that particular product. If tax rate fall firms try to sell more of product as possible but subsidies have different look if subsidies that given to a firm will increases producers try to increase supply of that product and vice versa Governments influence Every organisation needs a good climate of administration otherwise new producers will not enter in market. On the same time governments should give a liberal policy to business man if not that will affect supply of commodity. If government restriction is highly in a state producers are not willing to supply more quantity of product and vice versa B) Price elasticity of supply Price elasticity of supply is also considered as one of the major principles of economics. Price elasticity means that the relationship between changes in quantity supplied and changes in price. For the measurement of this change is known as price elasticity of supply. There is a formula for that price elasticity of supply that is PES =change in quantity supplied/change in price There is many kind of elasticity is there this all based on change in price rate. They are perfectly elastic, perfectly inelastic, elastic, inelastic and unit elastic. We can elaborate this 1) Perfectly elastic That means at the current price suppliers can supply any amount 2) Perfectly inelastic Perfectly inelastic means change in price does not affect quantity of supply. That means the rate of supply is always same when price change 3) Elastic Elastic means that when price increases supply also increases but change in supply wil be more than when it compare to price 4) Inelastic Inelastic means that there is a small proportion of change in price leads to large proportion of supply 5) Unit Unit elasticity means that rate of change in supply and rate of change in price will be same. These are the main 5 elasticity of supply .there are many factors that affect elasticity of supply they are following 1) Spare production capacity It means that if business got a spare capacity for his production then business can increase output as a result supply will be elastic to demand .that is why in recession time goods and services of Hilton hotel remain elastic (2) Stocks of finished products and components It means that raw materials and finished goods are high level in a market the supply will be elastic. On other hand if stocks or finished goods are low at market. Supply should be inelastic to its demand (3) The ease and cost of factor substitution This means that if factors of production are easily available or mobility of production factors are high that will affect elasticity of supply .that means it should be high. The hotels like Hilton always try to keep their factors available easily otherwise that will affect their business badly (4) Time period involved in the production process Time period is considered as one of the major factor that affect production process. That is usually supply of a product is high elastic at long time period because producers can adjust or rearrange production.

Failure in a Success Oriented Society in Death of a Salesman Essays

Failure in a Success Oriented Society in Death of a Salesman    In the play Death of a Salesman by Arthur Miller, the playwright focuses on the theme of failure in a success oriented society. Willy Lowman, a failed salesman, is the central character. Willy’s downfall is caused by his belief in the propaganda of a society that only has room for winners. The significance of this theme, still very relevant today, is heightened by Miller's skilful use of a range of key techniques, including setting, characterization and symbolism. The drama focuses on the life of a middle aged salesman, Willy Lowman, who, at the outset of the play is on the verge of a nervous breakdown. He lives with his adoring but over protective wife, Linda, who acts as a buffer between her husband and their two adult sons, Biff and Happy, whose relationship with their father is permanently under tension. The play plots the tragic collapse of a man who cannot face up to his moral responsibilities in a society whose false values attach a dangerous importance to success as measured in such transient terms as income and material possessions. Living according to these values means that failure is likewise defined in economic terms. The play's setting contributes to our understanding of the significance of this theme. Willy Lowman's home is presented as 'small and fragile-seeming', dwarfed by a wall of apartment blocks whose presence contributes to the trapped, claustrophobic atmosphere. He makes reference to a time before the build up of this area when there were 'two beautiful elm trees', now cut down by the builder and a garden in which scented wisteria and lilacs bloomed in profusion.Willy complains of the airless quality within his apartment, despite... ...ary society. For today's audience, Willy Lowman remains a poignant figure of failure, partly as a result of society's false value system but partly because of Willy's own inability to confront life with integrity.    Works Cited and Consulted Baym, Franklin, Gottesman, Holland, et al., eds.   The Norton Anthology of American Literature.   4th ed.   New York: Norton, 1994. Corrigan, Robert W., ed. Arthur Miller.   Englewood Cliffs, NJ: Prentice-Hall, 1969. Florio, Thomas A., ed. â€Å"Miller’s Tales.† The New Yorker.   70 (1994): 35-36. Hayashi, Tetsumaro.   Arthur Miller Criticism.   Metuchen, NJ: Scarecrow Press, 1969. Martin, Robert A., ed. Arthur Miller.   Englewood Cliffs, NJ: Prentice-Hall, 1982. Miller, Arthur.   The Archbishop’s Ceiling/The American Clock. New York: Grove Press, 1989. ---.   Death of a Salesman.   New York: Viking, 1965.

Internet Users Should Practice Self Restraint :: Argumentative Persuasive Argument Essays

Internet Users Should Practice Self Restraint The generation of the 90s, the information generation, or better yet the generation-X, has been plunged into a world of computers. To survive, each individual must have knowledge of and feel comfortable with the computer; a scary word and a frightful system to those not acquainted with it. The Internet is the essential application that needs to be grasped. It is the information network of the future. However, the variety of people using it is as vast as the world around. Hence, this is a community that is truly the world's largest melting pot, bringing people together from all ends of the world. The Internet becomes a social structure and with any social structure, it has its problems. Today, one of the rising problems with the Internet is that most people have their entire lives on the system; hence they are potentially exposed to all types of criminals. All addresses, phone numbers, credit histories, and sometimes even photographs can be found through the net. As in the real world, even in the Internet, women seem to be in a vulnerable position because they are the least protected by stalkers, kidnappers, murderers and psychopaths in general. A point, in fact clearly demonstrated in the movie "The Net", starring Sandra Bullock who was chased down by the government through the Internet. Although, many times the individual can remain anonymous and separate from all biases and prejudices, they still have all their information stored for it to be pried into by any clever hacker. Another vulnerable group constitutes children; lawmakers and concerned citizens worry about them being exposed to "adult material" on the Internet. At times it is as if their first priority becomes protecting these children from pornography, offensive material and often times just extreme view points. A downside to focusing so much attention on pornography is that often people are just fueling the curiosity of those they are aiming to protect. Although regulating the Internet for children is beneficial, often the regulations also encompass college students, who need a free hand to travel through this medium. This protection from "adult material" often restricts the learning process and prevents them from fully experiencing the Internet. Recently, lawmakers have attempted to set guidelines for the Internet. This poses a problem in itself because the Internet is a worldwide system. The rules that are placed must be agreed upon across the globe. Internet Users Should Practice Self Restraint :: Argumentative Persuasive Argument Essays Internet Users Should Practice Self Restraint The generation of the 90s, the information generation, or better yet the generation-X, has been plunged into a world of computers. To survive, each individual must have knowledge of and feel comfortable with the computer; a scary word and a frightful system to those not acquainted with it. The Internet is the essential application that needs to be grasped. It is the information network of the future. However, the variety of people using it is as vast as the world around. Hence, this is a community that is truly the world's largest melting pot, bringing people together from all ends of the world. The Internet becomes a social structure and with any social structure, it has its problems. Today, one of the rising problems with the Internet is that most people have their entire lives on the system; hence they are potentially exposed to all types of criminals. All addresses, phone numbers, credit histories, and sometimes even photographs can be found through the net. As in the real world, even in the Internet, women seem to be in a vulnerable position because they are the least protected by stalkers, kidnappers, murderers and psychopaths in general. A point, in fact clearly demonstrated in the movie "The Net", starring Sandra Bullock who was chased down by the government through the Internet. Although, many times the individual can remain anonymous and separate from all biases and prejudices, they still have all their information stored for it to be pried into by any clever hacker. Another vulnerable group constitutes children; lawmakers and concerned citizens worry about them being exposed to "adult material" on the Internet. At times it is as if their first priority becomes protecting these children from pornography, offensive material and often times just extreme view points. A downside to focusing so much attention on pornography is that often people are just fueling the curiosity of those they are aiming to protect. Although regulating the Internet for children is beneficial, often the regulations also encompass college students, who need a free hand to travel through this medium. This protection from "adult material" often restricts the learning process and prevents them from fully experiencing the Internet. Recently, lawmakers have attempted to set guidelines for the Internet. This poses a problem in itself because the Internet is a worldwide system. The rules that are placed must be agreed upon across the globe.

The Ethical Continuum :: Essays Papers

The Ethical Continuum An April 2002 ethics survey conducted by Zogby International included the question, â€Å"which of the following statements about ethics was most often transmitted by †¦ your professors,† but it provided only two answer choices: a general definition of absolutism and a specific definition of relativism.1 The pollsters, along with many who contemplate the issue, commit a false dichotomy and blind themselves by seeing relativism and absolutism as black and white. Contrary to the beliefs of moral nihilists and Kantians, ethics need not be ruled by extreme definitions of relativism or absolutism. If, instead, the two theories are juxtaposed as opposite ends of a continuum, then a more moderate approach to ethics becomes visible which represents a true compromise between relativism and absolutism. For purposes of this essay, the ‘most â€Å"enlightened† approach to ethics’ must be intellectually sound and promise positive moral progress. Deontological theories, â€Å"which take right and wrong as primary,† stand at the extreme end of the absolutist side of the moral continuum, and the most well known of the ultimate principles embraced by moral objectivism is Immanuel Kant’s categorical imperative.2 In his Fundamental Principles of the Metaphysic of Morals, Kant undertakes the absolutist’s quest for a â€Å"supreme principle of morality,† and after meticulous consideration of human will and rational decision making, he declares that people should only commit acts â€Å"that [they] could also will that [their] maxim should become a universal law†.3 The categorical imperative is one of philosophy’s best attempts to provide an absolute principle, but when scrutinized, this famous dictum is not universal or logical. As one of the Enlightenment’s greatest proponents, Kant heralds the presence of equivalent rational thought in all men and develops his theories with an optimistic assessment of â€Å"the moral knowledge of common human reason†.4 This proposed parity creates problems with the categorical imperative because Kant believes that common reason produces common decision making, void of emotional considerations. However, the categorical imperative requires people to will certain actions, and what people will is unquestionably determined by desire, a purely emotional thought. Although Kant attempts to ensure the universality of his principle by removing â€Å"all subjective motives,† such as emotion, he incorrectly associates the human will with rational thought instead of desire.

If Nas Ruled The World Essay

We have all fantasized about ruling the world In our free time. Whether you ruled wit an Iron fist or gave free Ice cream to your followers, everybody has rules differently. I n the song â€Å"If I Ruled The World† by Nas featuring Lauren Hill, Nas Imagines a world that ca n only be classified as â€Å"ghetto fabulous†. Although this song ideally disagrees with everything believe in, I support Nas idea of unity.The world that NAS speaks of is a place where y o can smoke weed â€Å"in the streets without the cops harassing†, â€Å"court without trial† and people e â€Å"more conscious of the way we raise our daughters†. This may sound like anarchy for the m cost part, but Nas speaks of a place like paradise for some. Nanas, formally known as Nas, was r eased in Queens, New York. This is shown evident from the song alone. Nas speaks of problem s that you would not find many other places other than the slums of New York.In the song he peaks of â€Å"W elfare†, â€Å"weed†, cocaine, â€Å"parole†, undercover cops, and the list continues. These Ideas may seem foreign, but Queens alone feels like a different world from the close by New York City. This is why I like this song. He did not attempt to speak politics or economy values when he showed us a glimpse of his hierarchy but he spoke of a world that Queens k new nothing about. Nanas spoke of a peaceful place. This song was an effective persuasive audio essay because he clearly stated his mall Idea, supported It, and reached the targeted audience.

Pleasant Co. Essay

Pleasant Co. manufactures specialty bike accessories. The attach to is known for product quality, and it has offered one of the best(p) warranties in the industry on its higher-priced productsa lifetime guarantee, make outing all the indorsement work in its own shops. The guarantee on these products is included in the gross gross price. Due to the recent introduction and appendage in sales of some products targeted to the upset price market, Pleasant is considering partnering with another beau monde to do the sanction work on this line of products, if customers purchase a work induce at the time of authoritative product purchase. Pleasant has called you to advise the confederation on the accounting for this new stock warrant arrangement. InstructionsIf your school has a subscription to the FASB Codification, go to log in and prepare responses to the following. depict Codification references for your responses. (a) Identify the accounting literature that addresses the accounting for the type of severally priced stock warrant that Pleasant is considering. (b) When are warranty peg downs considered independently priced? (c) What are incremental direct learning costs and how should they be treated? solving(a)FASB ASC 605-20-25 addresses how revenue and costs from a disjoinedly priced extended warranty or product maintenance contract should be recognized.(b)An wide Warranty is an bargain to provide warranty protection in addition to the background of reporting of the manufacturers overlord warranty, if any, or to extend the menstruum of coverage provided by the manufacturers original warranty. Product Maintenance Contracts are agreements to come certain agreed-upon services to maintain a product for a specify period of time. The terms of the contract may bourgeon different forms, such as an agreement to periodically perform a situation service a specified calculate of times over a specified period of time, or an agreement to perform a particular service as the need arises over the term of the contract. on an individual basis Priced Contracts are agreements under which the customer has the filling to purchase an extended warranty or a product maintenance contract for an expressly stated amount separate from the price of the product. FASB ASC 605-20-20-20 (Glossary)(c)Costs that are directly connect to the acquisition of a contract and that would earn not been incurred but for the acquisition of that contract (incremental direct acquisition costs) shall be deferred and charged to expense in proportion to the revenue recognized. All other costs, such as costs of services performed under the contract, habitual and administrative expenses, advertising expenses, and costs associated with the duologue of a contract that is not consummated, shall be charged to expense as incurred. FASB ASC 605-20-25-4