Justice Essays (5562 words) - Dialogues Of Plato, Socratic Dialogues

Justice ABSTRACT: This paper has a two-fold task. First, I show that there are three types of individuals associated with the Thrasymachean view of society: (a) the many, i.e., the ruled or those exploited individuals who are just and obey the laws of the society; (b) the tyrant or ruler who sets down laws in the society in order to exploit the many for personal advantage; (c) the stronger individual (kreittoon) or member of the society who is detached from the many and aspires to become the tyrant. Second, I argue that if Thrasymachuss account of the perfectly unjust life of the tyrant is to be more than a theoretical ideal, then the stronger individual who aspires to the tyrants position would do well to lead a double lifenamely, pursuing private injustice while maintaining the public appearance of justice. My interpretation accords with that of Glaucon, noted at the beginning of Republic II. I want to extend Glaucons interpretation to include the stronger individual as well. I argue that the standpoint of the stronger individual, as distinct from the standpoints of the tyrant and the many, shows Thrasymachuss three statements regarding justice to be consistent with one another. I. In the beginning of Republic II, during a conversation with Socrates and Adeimantus about which individual is deemed happier, the one who is just or the one who is unjust, Glaucon states: For the extreme of injustice is to seem to be just when one is not. So the perfectly unjust man must be given the most perfect injustice, and nothing must be taken away; he must be allowed to do the greatest injustices while having provided himself with the greatest reputation for justice. And if, he should trip up in anything, he has the power to set himself aright; if any of his unjust deeds should come to light, he is capable both of speaking persuasively and of using force, to the extent that force is needed, since he is courageous and strong and since he has provided for friends and money. (361a-b)(1) I believe that Glaucon has captured the essence of the Thrasymachean position concerning the best way for the unjust individual to live. The one who pursues the life of injustice must at the same time be courageous and crafty, strong and shrewd, power-driven and persuasive. But most importantly, the unjust individual must be dastardly and deceptive. This deception is captured by Glaucon when he states that the perfectly unjust man must seem to be just. Appearances and reputations played a central role in the fifth century b.c.e. Greek polis and so it makes sense that Glaucon would cast light upon the idea of an individuals pursuit of the unjust life while providing for the greatest reputation for justice.(2) Such an individual leads a kind of double life and therefore has a double duty to perform in seeming to be just while actually being unjust. These comments regarding Glaucons view of the perfectly unjust individual hint at the purpose of this discussion. This paper has a three-fold task. First, I will show that there are three types of individuals associated with the Thrasymachean view of society: a) the many, i.e., the ruled or those exploited individuals who are just and obey the laws of the society; b) the tyrant or ruler who sets down laws in the society to exploit the many for personal advantage; c) the stronger individual (kreitton) or member of the society who detaches from the many and aspires to become the tyrant. Most commentaries dealing with Thrasymachus position give the tyrant and the many central roles in the discussion of justice and injustice.(3) My view draws out the role of the stronger individual in Thrasymachus account in order to show the activities associated with the genesis of the tyrant from the society. The stronger individual, in seeking the life of injustice, naturally detaches from the many and aspires to develop into the perfectly unjust tyrant. In the third section of this paper I shall argue that if Thrasymachus account of the perfectly unjust life of the tyrant is to be more than a theoretical ideal, then the stronger individual who aspires to become the tyrant would do well to lead a double

Shutting Down Napster is Not The Solution essays

Shutting Down Napster is Not The Solution essays Shutting Down Napster is Not the Solution Almost everyone has heard of Napster and its long debated issues of file swapping and sharing. Considering Napsters short-lived existence of about a year and a half, they have certainly opened many peoples eyes. Some say the file swapping that Napster allows everyone to do is illegal; others says its just another thing to do on the internet. Napster has done much good for the internet, adding one more good thing that the internet can do for us. Napster has raised several intense controversial issues in the music industry of copyright infringement laws. Although shutting down Napster is not the solution; some agreement between the plaintiffs and Napster should come about. Napster is a medium for trading and/or swapping of music files over the internet. Napster has about 20 million users worldwide (Grimaldi Online). This phenomenon called Napster has taking the entire internet by storm. Just think all Napster is, is a program designed by a nineteen-year-old kid, a college dropout. Who would have thought that it would cause so much excitement in the music industry (Online)? Napster has allowed millions of people to be able to share their music over the internet. In these millions of people trading and swapping music, there have been claims of illegal acts being committed by the Napster users. The creator of Napster was summoned to court, on copyright infringement violations. Lars Ulrich, drummer for Metallic, brought on this lawsuit; Lars was very upset to find out the people were trading their music with out them, Metallica, getting paid. This upset Lars and sent him on a rally to get Napster shutdown. With all this commotion Napsters creator and designer was dragged into court to face copyright infringement lawsuits. In Napsters defense, they claim that they are not committing any illegal acts, just by letting its members sh...

Summary of the three ethical theories that are most central in Research Paper

Summary of the three ethical theories that are most central in philosophic ethics today - Research Paper Example One renowned deontologist is Immanuel Kant who has proposed that those actions should be considered as moral for which the reason for conducting an action was that the performer of the action is ready to accept the same action being considered against him in the same situation or in any other situation. This reason has been regarded as the maxim by the theorist. According to the principle of virtue ethics an act is considered as ethical or virtuous if and only if the person carrying out that act complies with the standards of honesty as well as righteousness (trinity.edu, 2014). Virtue ethics emphasizes upon the significant characteristics of an individual who can be regarded as a good human being. The theory of ethics of virtue has proposed the position that a person who can be regarded as good in nature is an individual who complied with various principles of

Phonetics Essay Example | Topics and Well Written Essays - 2000 words

Phonetics - Essay Example Tools is not a good gift sorry (word order) tools are not a good gift because it probably means that the guy have to work and his not working (um) unless he some sort of physicist or mechanic tools probably not a good gift. Opera tickets is not a good gift I don't guys like opera. Silver cuffling(k)s is romantic and is a good gift. A picture of her is again a good gift I think is romantic. Race car driving lessons is a good gift because guys love sports. A book from the best seller list is not a good gift because I don't think guys like reading that much. An electric razor is very unromantic and is not a good gift is also means that guys probably don't shave. White socks is not a good gift. A sweater is probably a good gift again shows that the women cares for the man. Once upon a time there was a man Mr. Smith everything seemed to be good in his life. But he was feeling loneliness and one day he realized the missing part of his life was a women. He took a brush and paint and he painted on his car "wanted;" a wife he put his address below. Several days later later he got letters and one of them was particularly exciting this was a letter from a lady who had a daughter, a son, and a dog. Mr. Smith called to the lady they met and they made serious relationships. Thus Mr. Smith removed the advertisement from his car. And finally Mr. Smith got married to the lady. Analysis of the speeches of Bis... It has been observed that they sound strange and even rude sometimes. It is a glaring problem that they cannot produce the correct sounds of many vowel-sounds especially the [I], [], []. For the consonants sounds, both have problems in producing the correct sound of th transcribe. It is observable that they prolong that instead of producing the retroflex [r] they produce the trilled [r]. Aside from the difficulty in the approximation of sounds, the two students have been diagnosed to be problematic in their intonation, assimilation of sounds, pitch, stressing, and rhythm. Dimitry for instance has so much unnecessary pauses. This lesson plan then shall be intended for them to be familiarized with the vowel sounds. It is prepared in such a manner that they will find the difference of pronouncing isolated words from the words in context. Drill will be given as it is the best way for them to learn and to master the skills. One Hour Lesson LESSON 1: THE VOWEL SOUNDS (should be read and pronounced by the teacher correctly with Dimitry and Bisun repeating after the teacher) [i] High tense front Extended unrounding of lips (smiling position) feelings "feelings, nothing more than feelings" keep "keep smiling, keep shining" believe "I won't ever leave as long as you believe" she "She's the girl I really want" need "I need your love" [I] Lower-High lax front Natural unrounding of the lips; slight opening of the mouth miss, kiss "Boy I miss your kisses" this, is "all the time what this is" minutes "25 minutes too late" still, hear "still I can hear the words" Monday, "You can kiss me on a Monday" [] Low tense front Natural unrounding of lips' low bunching of the

Are Americans really free Essay Example | Topics and Well Written Essays - 1750 words

Are Americans really free - Essay Example Historically, the USA is considered the birthplace of democracy, and which is important - democracy is an inborn feature of the American nation. The founding fathers of the Constitution of the United States can by no means be called the creators of our freedom - in fact, it already existed in the minds and, which is more important, lives of the colonists. Taking into account all the above said, it seems irrelevant to even question the fact that the Americans are really free yes, things are not so unambiguous in the modern society, and there are phenomena and facts that certainly limit our freedom. In this report, we will concentrate upon the problem of the USA as a panoptic society and the way it limits personal freedom. At the end of the 20th century (1975), a French philosopher Michel Foucault wrote a book Surveiller et punir (Disciple and punish) that gave a historical account of European prison, and the ideas contained in this book have become the basis for the new philosophy. The reason why we have to talk about Foucault's work is because the philosopher was the one who gave a new birth to the term "panopticum" that was first used by Jeremy Bentham in the 18th century to describe a prison allowing to constantly observe the prisoners, and which is more, ever since Foucault's book was released, the modern society began to be regarded as "panoptic" by some researchers. Foucault shows, in effect, how the system of surveillance first practiced in nineteenth-century prisons - those 'complete and austere institutions', as Baltard called them - has increasingly spread throughout modern Westernized societies. This dynamic is terminologically reflected in the shift from what Jrgen Habermas originally called the 'structural transformation of public space' to what he came to call the 'colonization of the life-world'. Colonization has returned home, equipped with appropriate technology. A new, and no less 'peculiar', Apparatus is central to Foucault's account: Bentham's Panopticum. (The Lesser Evil 2003, p. 55) Whereas M. Foucault begins from describing a prison, he finally reaches the conclusion that practically all social institutions are panoptic by their nature - i.e. hospital's wards, school or university's classes, etc. In a panopticum, "[a]n individual is an object of information, but is never a subject of communication". (Foucault 1999, pp. 292) Hence, since panopticum is meant to keep people from communicating, it is a way to suppress their freedom. As Foucault has it: "If there are criminals in the cells, there is no danger of a plot,.. if there are ill people-there is no danger of spreading infection. If there are insane people - there will be no risk of mutual violence; if these are schoolchildren - they will never be able to cheat; if workers are kept there-there are none of the pleasures which can keep them away from work". (Foucault 1999, pp. 293-294) For the French philosopher, panopticum is not only a certain particular organisation - it is, in fact, a principle, a mechanism that acts in the society and serves as means of suppressing individualism, controlling people, turning them into a crowd, forcing onto them some particular type of behaviour - all in all, limiting their

External And Internal Determinants Of Capital Structure Finance Essay

External And Internal Determinants Of Capital Structure Finance Essay 1: Introduction 1.0 Introduction The literature on capital structure theory has made significant progress after the trend setting publications of Modigliani and Miller in1958. After the publication of Modigliani and Miller research work, various researchers have developed theoretical models based on the balancing of tax effect and inefficient distribution of information. Recently, there are many models that focus on the relationship between product and market or the effect of a particular ownership structure on the capital financing decisions of a firm (Bhaduri 2002). These models have been developed pertaining to many different sectors of economy such as manufacturing by Long and Malitz (1985) and Titman and Wessels (1988). Miller and Modigliani (1966) tested these models in the context of power generating and electric companies, while Jensen and Langemeier (1996) have focused on the agricultural firms. Among the noteworthy models proposed by researchers, the static trade off theory carries the primary importance. Modigliani and Miller (1958) contended that the static trade off theory is based on the assumption of friction and information-wise perfect markets. They also proposed the irrelevance theorem which implies that the financing decisions of firms have nothing to do with the value of organisation and their cost of financing. Titman and Wessels (1988), Rajan and Zingales (1995) and Graham (1996) have conducted their empirical research to investigate the important determinants of capital structure proposed in the theoretical models by finance commentators. In the majority of research, they found that firms decisions to achieve the target capital structure are spontaneous. In the imperfect market, these target ratios are not instantaneous and incomplete while in perfect market, these financial decisions are perfect and spontaneous. It means that firms try to adjust their optimal capital structure spontaneously as the cost of capital varies in the market. Marsh (1982), Jalilvand and Harris (1984) found that the main impediments in the way of adjusting capital structure are the adjustments and transaction cost associated to market imperfections. These imperfections arise due to the inefficiencies in financial market such asymmetric distribution of information and transaction cost etc. These researchers have found that the firms financial decisions usually taken in a two step process. Marsh (1982) and Jalilvand and Harris (1984) explained that in the first step, a firm decide its target capital structure and in the next phase, it strives to attain that target. Spies (1974), Taggart (1977), Jalilvand and Harris (1984) and Ozkan (2001) stated that financial behaviour of a firm can be best described by the partial adjustment model. In this partial target adjustment model, it is assumed that a firm adjusts to the target capital structure spontaneously. One common attribute in the research is that the capital structure of a firm varies with the change in industry type. Even after the efforts of numerous researchers, no single universally accepted capital structure theory exists. There are also a comparatively small number of empirical researches conducted up till now on this topic. One possible reason for the small number of empirical research is the intangible and conceptual nature of determinants proposed by the authors (Titman and Wessels 1988). However, the available empirical research has focused on certain factors such as the size of firms; profitability and volatility of earnings before interest, tax and depreciations etc. These determinants came out after the studies conducted in the developed countries such as the United States (USA) and the United Kingdom (UK). After the integration of markets, it is becoming increasingly more important to study these markets to test the validity of these determinants. Because of the confl icting ideas pertaining to the financial behaviour of firms, it is important to have practical research based on theoretical foundations to establish a valid capital structure determinant model. 1.1 Objective This research paper will endeavour to determine the factors which serve as an impetuous for changing the capital structure of firms across the different industries operating in the United States of America (USA). The main objective of this research will be achieved investigating the relationship between following determinants; Capital structure and profitability Capital structure and tangibility Capital structure and economic growth of the country Capital structure and rate of inflation Another objective is to find and evaluate the impact of internal forces which play an important role in changing the capital structure of a firm. Literature Review: 2.0 Introduction This chapter attempts to establish the theoretical foundation of determinants of capital structure. First of all, the effect of different industry types on the capital structure has been given. Then the different capital structure theories have been described. After that, all the possible external and internal determinates of capital structure has been discussed. Lastly, the latest development in the macro and micro environment, which have significant bearing on the capital structure of a film, are discussed 2.1 External and Internal Determinants of Capital Structure In this time of financial distress, where many companies are facing impending bankruptcy because of the liquidity crunch and mismanagement of resources, it is imperative for financial managers to use the optimal mix of debt and equity in order to drive down the cost of capital and thereby increasing the profitability of their firms. Another impetuous for using optimal mix is that the financial analysts, investment houses, common stock buyers and bond rating bureaus usually compare the financial leverage of a firm with industry average figures before taking investment decisions (Moyer et al. 2009). Hence, it is in the very interest of a firm to decide its optimal capital structure in order to make its financial health more conducive to further investment by yielding handsome returns (DeAngelo and Masulis 1980). As per definition, capital structure of a firm is the mix of the total long and short term debt plus the total amount of equity (both preferred and common) which is raised by a company to finance its total capital requirements (Investopedia 2009). According to Brigham and Ehrhardt (2001), there are many internal and external factors which a financial manager has to be mindful of before chalking out business plans and policies. Similarly, decisions of capital structure are the outcome of many internal and external variables (Brigham and Ehrhardt 2001). External variables consist of many macroeconomic factors such Gross Domestic Product (GDP), unemployment, inflation, interest rates and tax policies etc (Besley and Brigham 2007). GDP is the accumulated market worth of finished goods and services produced within the boundaries of a country during a particular period of time, usually one year (Investopedia 2010). Nominal GDP (inflation not adjusted) should not be confused with real GDP (inflation adjusted) as the increase in nominal GDP (merely increase in prices) doesnt mean that country has made more money during a certain period (Investopedia 2010). Inflation means the rate of increase in the prices of goods and services over a period of time, usually measured by the Consumer Price Index (CPI) and GDP deflator (a ratio of nominal and real GDP) (Investopedia 2010). Some other important variables of macro economy are the economic growth, budget deficit and poverty. These macroeconomic factors indicate the aggregate economic performance of an economy (Investopedia 2009). As these macroeconomic factors are the result of many sub factors which collectively make a very complex economic system (Campbell, McConnell and Brue 2008). These factors, by nature, are out of the control of a firms manager so he/she cannot influence the determinants. They instead have to adjust the proportion of debt and equity according to their respective costs. Some other important external variables which affect a specific capital structure are the taxation, profitability, the interest expense, the effect of agency cost and the level of business risk faced by the company (Moyer, McGuigan and Kretlow 2009). Besides these external variables, there are many internal factors which a business manager has to consider before selecting a particular mix of debt and equity. These internal variables can be the industry specific variables such as the effect of seasonal levels of sales or these can be the internal to the firms such as the style and attitude of management. Entrepreneurial organisations, for example, have the tendency of taking bolder and riskier business decisions as compared to bureaucratic ones which shows more risk-averse behaviour. Among the most prominent internal variables are the level of profitability, degree of risk appetite of business managers and the tangibility of fixed assets etc. 2.2 Effect of industry type on the capital structure of a firm There are a lot of variations in the capital structure of firms across the different industries all over the world (Scott and Martin 1975). Capital structure of firms varies with the change in type of industries and even within the same industries (S. Titman 1984). It is evident from the Table 1 that the firms which are operating in the drugs and industrial machinery sector do not use a large amount of debt as compared to firms which are in the retail and utilities business (Brigham and Ehrhardt 2001). Some possible reasons are the uncertainties inherent in the research projects carried out by these firms or the chances of product liability law suits (Brigham and Ehrhardt 2001). Due to the low level of debt financing, these firms are also experiencing low level of financial distress (i.e. the times interest earned ratios are high) as compared to the other sectors as shown in table 1 (Brigham and Ehrhardt 2001). However, the firms which belong to the utilities sector usually rely heavily on debt financing which is evident from their common equity ratio as shown in table 1 (Brigham and Ehrhardt 2001). The major portion of total debt comprises of long term debt which they usually raise by issuing securities and mortgage bonds against their huge fixed assets (Brigham and Ehrhardt 2001). Another rational behind this phenomenon is the stable sales figures as compared to the other firms which have volatile sales (Brigham and Ehrhardt 2001). This factor enables these types of firms to use more debt financing because they can easily forecast the expected level of future sales and can have an optimal business risk (Brigham and Ehrhardt 2001). 2.3 Theoretical Foundations of Capital Structure Franco Modigliani and Merton Miller (famous as MM) (1958) are pioneers, having studied the impact of internal and external determinants on the capital structure of an organisation (cited in Bhaduri 2002). In the years since, there has been a large volume of research by many researchers to determine the individual effect of these environmental factors on the capital structure of a firm in different countries of the world (Al-Najjar and Taylor, 2008). Modigliani and Miller proposed that in a supposed no-competition world, the value of a firm is independent of its capital structure (cited in Bhaduri, 2002). Further they also assumed that their theory is valid under the assumptions of perfect competition, no taxation cost, not transaction cost. They also stated that the productivity of firms is not dependent on mode of financing (cited in Bhaduri, 2002). In the above mentioned scenario, internally generated sources of funds are almost the perfect substitute of external funds (Bhaduri, 20 02). Hence, companies are indifferent to the sources of financing. After the publication of their work, researchers have found some imperfections such as Kim (1978) introduced the idea of bankruptcy cost. The idea of facility of tax shield was introduced by DeAngelo and Masulis (1980) and the agency cost by Jensen and Meckling (1976). All these researchers agreed that the optimal capital structure is the most realistic solution to the capital structure dilemma faced by the todays firms. As the cost and benefits of leverage changes from one industry to the other, many previous researchers are of the opinion that industry must have significant impact on the capital structure of firms (Scott and Martin 1975). Every firm tries to chase the average industry ratios (Tucker and Stoja, 2007). Ang (1976) said that firms can only have an optimal gearing ratio rather an ideal universal ratio for all in the real world scenario. Remmers et al. (1974) agreed with the Ang (1976) by stating the gea ring ratio of firms varies with industries. They also said that firms that belong to the same industries face same environmental conditions which lead them toward common earning and sales patterns (Remmers, Wright and Beekhuisen 1974). Scott (1972) and Scott and Martin (1975) said that most of the firms tries to choose the gearing ratio that is appropriate to their risk/return profile and their inherent business risks. Antoniou et al. (2002) found that the UK, German and French firms continuously adjust their debt ratios according to the target ratio, but at their own rates which is contingent to whether they belong to the manufacturing or services sector. Bradley, Jarrel and Kim (1984) said that the agency cost and bankruptcy cost are just the partial determinants of leverage. It means that these factors also have impact on the capital structure of firm but in a less likely fashion. Many researchers endeavoured to tackle the issue of optimal capital structure (Bhaduri 2002). All these works have collectively contributed in the development of financial theory (Bhaduri 2002). In spite of all these efforts, there is no one comprehensive solution to the capital structure dilemma (Titman 1984). Moreover there have been very little practical evidence regarding determinants of capital structure till recently (Harris and Raviv 1991).The main reason behind this limited number of empirical research evidence on this topic is the abstract nature of determinant such as size of firms, their growth rates, intensity of capital, gross profits, volatility of future sales and free cash flows and the impact of taxation on changes in the capital structure of a firm (Harris and Raviv 1991). Another important issue is pertaining to the geographical locations that most of the available research works have focused on the United States of America (USA) market (Bhaduri 2002). Less economically developed countries (LEDCs) lag behind due to the neglected role of the private sector in the economic development of country and the limited sources of funds for the companies belonging to the LEDCs (Bhaduri 2002). 2.4 Main Factors Influencing the Capital Structure of a Firm The chief determinants of capital structure are the attributes and factors that have very significant impact on the leverage ratio of a firm. The following is the detail of the most relevant determinants of capital structure of a company. Asset Structure According to the agency cost and asymmetric information theories, the composition of tangible assets owned by a company greatly affects its capital structure (Jensen and Solberg 1992). Agency cost theory states that shareholders of a firm, which has high proportion of debt in its capital structure, have the intention to invest sub-optimally (Galai and Masulis 1976; Jensen, Solberg and Zorn 1992). A positive relationship has also been found between the collateralisable assets and debt structure of a firm. Another factor is the over consumption habit of business managers which ultimately reduces the value of a firm (Bhaduri 2002). Financial Distress If a firm is using a huge amount of debt and it has to pay heavy payments periodically, there is very high probability that it will go bankrupt in the case of falling revenues or future free cash flows (Brigham and Ehrhardt 2001). This implies that the firms, which are having volatile sales figures, usually use less debt financing in order to avoid probable financial distress (Ensen and Meckling 1976). Fear of bankruptcy forbade the firms to rely heavily on the debt financing (Bhaduri, 2002). Non-Debt Tax Shield DeAngelo and Masulis (1980) said that one of the firms objectives of using debt financing, is to avail the benefit of a tax shield because interest expense reduces the taxable income of a firm. So the firms which have a large non-debt tax shield are likely to use less debt financing. Size There are is large number of evidences that the firms which are large in size and well diversified are less likely to experience financial distress (Demsetz and Lehn 1985, Remmers, Wright and Beekhuisen 1974). This encouraged them to use relatively large amount of debt financing (Warner 1977; Ang and McConnell 1982). Age The age of firm is also a very pertinent factor that influences the firms decision about having a specific of capital structure (Scott 1972). Young firms are more intended to use debt financing because of the high appetite for risk taking and limited amount of information at hand (Scott 1972). So they find borrowing from banks a cheaper and convenient way as compared to use equity financing. Growth Fast growing firms experience a higher cost of agency problem as compared to the firms which not growing very fast. Bhaduri (2002) said that fast growing firms have more chances of adjustments in the coming years. Hence there is a negative correlation between the longer term debt and the future growth of a firm. Myers (1977) said that the short term debt is the remedy to this problem. By doing this, fast growing firms dont need to enter into long term debt contrast and can easily adjust their capital structure according to the requirements of growth and financial conditions (S. Myers 1977). Profitability If managers of a company are not capable and credible enough to convince venture capitalists to lend capital, they will preferentially rely on the internal sources of revenue (e.g. retained earnings) (Myers and Majluf 1984). Myers and Majluf (1984) noted that profitable firms usually have more money as retimed earning in order to invest in the growth projects. Hence there must be negative relationship between debt proportion and historical profitability of the company (Myers and Majluf 1984). Uniqueness It is found that the firms which are producing unique kind of products usually have low leverage ratio (Bhaduri 2002, Antoniou, Guney and Paudyal 2002). These firms face great difficulty in borrowing debt from the financial institutions because in case of liquidation, their assets cant be used for some other substitute purposes (Auerbach 1985). Industry effect It is one of the most important variables that affect the capital structure of firms (Harris and Raviv 1991). The companies which belong to those industries where there is greater degree of uncertainty in the research projects and expected future sales, they rely less on debt financing (Remmers, Wright and Beekhuisen 1974). Contrary to this, the firms which have more level of certainty in their future cash flows and huge amount of fixed assets, they intended towards more debt financing (Remmers, Wright and Beekhuisen 1974). Maksimovic and Zechner (1991) said that the diversity of technologies used by firms is also the key determinant of using their capital structure. They argued that the firms which are using multiple technologies have the facility of sourcing capital from various sources of financing (Maksimovic and Zechner 1991). Where these firms can raise their funds from multiple sources, they can also reduce their risk by spreading over the wide range of technologies (Maksimovi c and Zechner 1991). 2.5 Most Important Capital Structure Theories 2.5.1 Static trade-off theory This theory of capital structure assumes that company should pursue a financing mix where tax shield advantage should be equal to the interest rate expense, keeping the other factors constant such as credit crunch and probability of bankruptcy costs (Jensen and Meckling 1976). This theory mainly deals with the pros and cons of issuing fixed asset securities like debt (S. Myers 1977). It assumes that there exists an optimal point under which the value of the firm is maximized. This optimal point is achieved by balancing the benefits and cost of issuing more debt (Myers 2001). One of the main advantages of issuing more debt is to take the benefit of tax deductable. This simple benefit can be more complicated when manages and owners have to pay personal tax and the issue of an absence of tax shield (Myers 2001). Debt financing also reduces the chances of agency conflict (Maksimovic and Zechner 1991). The rational is that the use of debt reduces the amount of free cash flows at the dispo sal of managers and there reducing the chances of conflict between managers and shareholders (Jensen and Meckling 1976). 2.5.2 The Trade-Off Theory of Capital Structure The basic idea behind this theory is that a firm normally conducts the cost-benefits analysis before taking any decision regarding its capital structure (Tucker and Stoja 2007). It means that company will just rule out the possibility of convenience in this important financial aspect as stated by the pecking order theory (Jensen and Meckling 1976). In spite of criticism by Miller (who called it a comparison of horse and rabbit), the advanced dynamic model of this theory is very robust and practical (Tucker and Stoja 2007). 2.5.3 Pecking order theory The pecking order theory talks about the cost of asymmetric information (Myers and Majluf, 1984). It says that firms choose their sources of financing according to the rule of least effort or least resistance (Myers and Majluf 1984). This implies that the firms will choose the equity financing as a financing mode of last resort (Myers and Majluf 1984). According to this theory, firms will prefer debt financing as long as it is feasible and when it is no longer possible, then they will opt for equity financing (Myers and Majluf 1984). 2.6 Capital Structure and Financial Risk The Financial risk of a firm is the risk associated with a lack of a sufficient amount of future free cash flows in order to meet its short term obligations (Brigham and Ehrhardt 2001). In other words, financial risk also increases as the use of fixed income securities increases like preferred stock increases in the total financing of the firm (Harris and Raviv 1991). Brigham Ehrhardt (2001) asserted that as the amount of debt increases in the overall mix of capital structure, the degree of financial leverage increases. Financial leverage means that the total amount of debt that is used in the capital structure of a firm (Harris and Raviv 1991). Another related concept is that of operating leverage which means that the portion of fixed cost used in the total cost of production of a particular product or range of products (Moyer, McGuigan and Kretlow 2009). Investors are very much concerned about the financial risk of firms because this is the kind of additional risk which they have to bear because of debt financing besides equity, in the firms total capital structure (Brigham and Ehrhardt 2001). It is the main objective before the financial managers to design the capital structure so that the value of the firm is maximized and at the same time mitigate the risk at hand (Harris and Raviv 1991). To gauge the financial risk of a firm, Times Interest Earned (TIE) ratio carries special importance in the eyes of these investors (Besley and Brigham 2007). Times interest ratio is of immense importance to analyse the true interest cost coverage ability of a firm (Brigham and Ehrhardt 2001). TIE depends upon three important factors: the amount of debt in the total capital structure, the cost of debt and the profitability of the firm (Haugen 1995). Usually the industries which are less leveraged such as Drugs and electronics etc. have a very high TIE ratio (Brigham and Ehrhardt 2001). However, the firms which are in the business of retailing or utilities which rely more on debt financing, have low interest coverage ratios (see table1) (Brigham and Ehrhardt 2001).There are also variations in the capital structure of individual firms operating in the same industry due to the different attitude of managers and their particular risk/return profiles (S. Myers 1977). The firms where manger s are more aggressive and have high risk appetite usually use more debt financing than those firms where managers are risk-averse (Hull 2008). The tools used to find the optimal capital structure are EBIT/EPS Analysis and EPS indifference Analysis (Brigham and Ehrhardt 2001). 2.6.1 EBIT/EPS Analysis Earnings Per Share (EPS) of a firm vary with changes in the amount of debt in the capital structure of a firm (Warner 1977). Theoretically, as the amount of debt increases in the capital structure, the financial risk increases (Warner 1977). Because of this high financial risk, investment houses change higher interest rates for the further debt which ultimate increases the cost of capital for a firm (Brigham and Ehrhardt 2001). Surely extra amount of financial leverage increases the capability of a firm to earn higher earnings per share in the coming years (Jensen and Solberg 1992). Brigham Ehrhardt (2001), however, suggested that EBIT/EPS ratio should range from 0 to 5%. To find the exact point in this range, financial managers have to conduct an EPS indifference analysis. 2.6.2 EPS indifference analysis The purpose of this analysis is to find out the point where a firm is insouciant as to whether it uses debt or equity for the same ratio of EPS (Brigham and Ehrhardt 2001). Brigham and Ehrhardt (2001) found that a firm will report higher EPS at a low level of sales and firm is using the more equity than debt. On the other hand, an organization will experience faster increase in EPS with the increase in sales if a firm is using more debt than equity (Brigham and Ehrhardt 2001). The point worth noting is that if business managers are confident about a certain level of sales of their firm, they should go for debt financing and vice versa (Besley and Brigham 2007). Financial risk of a firm is usually measured by interest coverage ratio, fixed charge coverage ratio and longer debt ratios (Moyer, McGuigan and Kretlow 2009). These ratios are usually compared with industry average ratios to gauge the true financial health of a firm (Moyer, McGuigan and Kretlow 2009). These ratios are also compared to the previous years ratio of the same firm to determine the trend of firms performance over a period of time (Brigham and Ehrhardt 2001). The Financial risk of a firm depends upon a number of factors such as financial leverage, Operating leverage, expected future free cash flows and so on. Because of the intense competition and uncertainty in the market, it becomes essential for the finance executives of companies to manage the risk of their organisations by either diversification, adopting an optimal capital structure, or using the sophisticated derivative securities (Hull 2008). An optimal capital structure is to arrange the financial structure of the firm in such a way that minimises the weighted-average cost of capital and thereby maximises the value of the firms stock (DeAngelo and Masulis 1980). The dilemma here is that when a firm is trying to maximise its EPS by increasing the amount of debt, its financial risk also increases at the same time (DeAngelo and Masulis 1980). On the other hand, if a firm tries to minimise its financial distress, it has to reduce its financial leverage which ultimately hurts the EPS of the firm (Bhaduri 2002). Hence there arises the need of an optimal financial structure which increases the EPS of a firm and reduces its overall finan cial distress simultaneously (Bhaduri 2002). This choice of the optimal capital structure depends upon a number of factors such as the size of firm, its growth rate, cash flow projections and product and industry characteristics. (Bhaduri 2002). There is a school of thought advocating that derivatives are the most useful tool to hedge financial risks at the firms level (Jalilvand, Tang and Switzer 2000). Yet there is another group who believe that there are some alternative (i.e. using less debt financing) as compared to the typical hedging techniques available which can be used to reduce the financial risk at corporate level (Berkman, Bradbury and Magan 1997). From these studies, it is evident that managing the financial risk of firms is very important for firms in order to be competitive in the market place. Some companies have made internal risk management policies as part of their corporate business strategy (Maksimovic and Zechner 1991). Smith and Stulz (1985) commented on the goal of risk management in these words: The primary goal of risk management is to eliminate the probability of costly lower-tail outcomes those that would cause financial distress or make a company unable to carry out its investment strategy(p. 3 95). It is clear from the words of Smith and Stulz (1985) that the main goal of companies is to manage risk by either means. During the last decade, there has been a lot of research on the impact of industry in deciding the capital structure of firms (Booth, et al. 2001). Booth et al. (2001) studied whether the factors affecting the capital structure of firms are country specific or not. For this purpose, their study focussed on ten developing countries: India, Pakistan, Thailand, Malaysia, Zimbabwe, Mexico, Brazil, Turkey, Jordan and Korea. They reported that: In general, debt ratios in developing countries seem to be affected in the same way and by the same types of variables that are significant in developed countries. However, there are systematic differences in the way these ratios are affected by country factors, such as GDP growth rates, inflation rates and development of capital market (Booth et al. 2001 p. 118). The institutional owners who hold large amount of shares of a firm also play a very significant role in deciding the capital structure of these firms (Al-Najjar and Taylor 2008). As these owners have the right to elect the board of directors, they can influence the mangers of their firms to adopt specific risk management policies and finance capital in a certain and specific manner (Al-Najjar and Taylor 2008). 2.7 Financial market Dysfunction In developing countries, banks and other financial institutions are main sources that provide liquidity to the economic system by advancing credit to the films (Demsetz and Lehn 1985). In repressed financial system, banks provide short and medium term loans to the young and established entrepreneurs; while big and developed financial institution provide long term loans to the big corporation (Kester 1986). These loans are mostly given to the particular sectors of national economies such as agriculture and transport and housing (Antoniou, Guney and Paudyal 2002). Governments used to influence these commercial institutions to favour certain sectors and advance soft credit to the small industry (Leech 1987). Regularity agencies mostly restrict the banks from advancing credit to certain limits (DeAngelo and Masulis 1980). Antoniou, Guney and Paudyal (2002) said that the limitation on the financial institutions by the authorities result in the form of credit rationing. Another hu

The Anglican Liturgy Essay -- Religion/Spirituality

â€Å"†¦the Prayer Book is not only a manual of public devotions, it contains the fullest statement of the teaching of the Church†. This understanding of the prayer book as the dominant treatise of Anglican belief is central to this essays argument that the Episcopal Book of Common Prayer (1979), and particularly its rite of Baptism, has fundamentally shifted Anglican thinking and liturgical practice in relation to Eucharist and ministry. We will explore this argument by first clarifying what is said in the Book of Common Prayer (1979), especially within its preface to the rite of Baptism, comparing this to the Book of Common Prayer 1662, to elicit differences and subtle nuances within the theology expressed. The consequences of these changes in relation to Eucharistic practice and invitation will then be explored, particularly the way in which confirmation is understood in the new schema. Following this, we will seek to understand the impact that this has had upon t he Anglican Church in Aotearoa, New Zealand, and Polynesia and how it has affected our Anglican Identity liturgically and ecclesiologically, especially in regards to ministry. Finally, we will offer a small critique of the liturgical understanding of Baptism as full initiation to the Eucharistic table, drawing upon biblical images and Church teaching to pose questions of whether this is appropriate. ‘Holy Baptism is full initiation by water and the Holy Spirit into Christ’s body the Church’. These few words are the initiatory comments in the Book of Common Prayer (1979) concerning the rite of Baptism and the purpose of the service. Within them lies an understanding that, while possibly implicit, in previous Prayerbooks had not been made clear, or was deliberate... ...can Style. July 10, 2010. http://anglocatholic.net/2010/07/10/communion-anglican-style/ (accessed May 14, 2012). The Church of England. The Book of Common Prayer and Administration of the Sacraments and Other Rites and Ceremonies of the Church according to the use of The Church of England. Cambridge: Cambridge University Press, 1662. The Church of the Province of Aotearoa, New Zealand and Polynesia. A New Zealand Prayer Book/He Karakia Mihinare o Aotearoa. Auckland: Collins, 1989. The Episcopal Church. The Book of Common Prayer and Administration of the Sacraments and Other Rites and Ceremonies of the Church : together with the Psalter or Psalms of David according to the use of the Episcopal Church. New York, NY: Church Hymnal Group & Seabury Press, 1979. White, James F. Introduction to Christian Worship. 3rd Edition. Nashville, TN: Abingdon Press, 2000.

Andy Warhol

AP Studio Art 28 September 2013 Revolutionized Artist Andy Warhol was an American artist during the sass and was a leading figure in pop art. He was an artist that revolutionized society with his art during that time. His art encompassed many forms of media including hand drawing, painting, photography and music. Andy Warhol became the symbol of a movement which made the arts easily available to and understandable for the public, thereby causing a change in the culture of America during the ass's and ass's. Acknowledging all of these factual evidence, it is unquestionable that anyone would disagree upon Andy Warhol being an artist.Through his series with common images, celebrities and death, Warhol teaches us that surface images have a lot to say about pop culture. By exploring and learning more about the artist who opened so many doors in the art world, one can see why looking at the surface of his works often meant seeing and understanding so much more about the society in which we live. When considering the life and works of Andy Warhol, one thing is agreed upon: for good or bad, he changed the visual construction of the world we live in. By the time of his death in 1987 he was ranked on the same level with Pablo Picasso and JacksonPollock as one of the three most important artists of this century. He was a working man, a social climber, a person who liked to build things, an acquirer of goods, and a known homosexual. These attributes all contributed to the interesting and complicated nature of his art. Ands intention was to get us to look at the â€Å"art† that is all around us. For example, â€Å"Campbell Tomato Soup† (1962). Whorl's Campbell soup cans are arguably some of his most famous works. Warhol wanted us to look at the simple image of the can for what it represented to our culture.He challenged â€Å"old assigned† critics to overcome their ideas of art as complex and incomprehensible by using simple, common images. Whorl's sele ction of the soup can may be the most important part of the work he did with them. He wanted to display his view of America and to him eating Campbell soup represented being American. Andy makes up art with the common tomato soup we see at the grocery store. Andy Warhol is telling us that good, bad, or very bad, there is â€Å"art† everywhere and we take it for granted. Looking at his photos really makes us fell ignorant to art making us think, â€Å"How could I miss that? Leaving us with guilt and having no confidence to being artists. Although Andy was identified with Pop art and credited with its invention, this is a misunderstanding of his creative ability. Pop is much more complicated than it seems. In creating Pop art, one must create memorable images and awareness of the unpredictable forces in nature and society in whole. It is not simply the portrayal of popular icons but more of an expression of all that is familiar and accepted American society. Pop art also conta ins a serious sub-message that is not apparent at first sight.Warhol has many famous works spanning across distinct mediums, but arguably his most important works were his silkscreen based on photography and his revolutionary usage of the popular media as an artistic medium in itself; which he created through his carefully controlled public persona. Andy Warhol produced works that defied the popular notion of what art should be. Whorl's works were meant to be taken at face value, for nothing more than what they portrayed on the surface. While he stressed this superficial attitude about his art, his works were often the cause of debate and influenced public opinion like no other cultural figure inNorth America. Andy Warhol influenced – and still influences – many modern artists. He was influential not only with the unusual images he created, but also through his extensively publicized lifestyle and attitude. He redefined the role of the artist as a public persona, like a rock star. He was able to clamoring the ordinary. After Warhol, art is no longer seen as exclusively â€Å"high† art. Glorifying Campbell Soup cans and Coke bottles was a fundamentally democratic gesture. Andy Warhol was a great artist who made art accessible for many.The popularity of contemporary art today is to mom extent due to his achievements and I believe that most importantly Warhol taught us that the artist is in reality, the art. Despite of popular belief, the tomato soup pictures were not his ideas; Andy needed new ideas to help boost his creativity. He got several ideas from a woman named Muriel Lotto; a gallery owner he knew. She advised him to paint what he loved most (like money) or what everybody would recognize (soup cans and coke bottles). Andy expanded on these ideas and his paintings of the early ass's reflected his progress as a Pop artist.He finally gained the financial success and international AMA he had longed for. This proves that art is not an ide a, it is how you exemplify that idea to be original and creative. I find it simple at first glance but the majority of his work has quite a vast and deep meaning to it once the viewer takes a moment to really look at it for example the â€Å"famous boxes of Brills pads† (1968) , as first glance it is a well taken and quirky image of a pretty mundane item, however with artistic analysis and deeper thought the ideas of mortification and consumerism seep through the image.Warhol also creates photograph collages and screen-prints of his self-portrait within his portfolio. This is a postmodern artistic medium as instead of allowing the media and public to create an opinion of him, he is taking that license and liberty away from them by creating these images himself, as if to force-feed the media before they get a chance to create a per-conceived opinion. He wanted to portray a creative image of himself, which stands out from everyone else; and he certainly has achieved this in mel low' (1968) self-portrait.Andy Warhol brought forward society's obsession with mass culture and allowed it to become the subject of art itself. Using many techniques such as isolation, repetition and color placement, Warhol brought o the world of art his views on materialism, politics, economics and the media. Some people dispute that Whorl's work isn't original, and it isn't actually creating anything ‘new and that it is simply cheating and copying the basics of an already famous image.In contrast, others believe that he is indeed creating a new work of art as it is taking traditional high art and changing the message of it in to something modern. Warhol appreciated and admired the original and did not intend to take ‘credit' for this creation, he was simply expressing his artistic license to enhance the ark further and in his own way. Ironically, Andy Warhol, a man who fantasized about simply vanishing upon death, a man who expressed so much desire to become a machine, became amortized through the media.Andy Whorl's choice of visual technologies ultimately allowed him to convey the ideas of fame and repetition through literal example. Warhol even turned his life as a whole into a musing on fame, mass-production and the culture of 20th century America. In the end, it is ironic that the very man who coined the phrase ‘1 5 minutes of fame,' received so much more than his share. Andy warhol Maria Virgins Art Fundamentals Andy Warhol Born Andrew Warhol on August 6, 1928 in the city of Pittsburgh, Pennsylvania, Andy Whorl's parent's were Slovakian immigrants. His father, Indore Warhol, was a construction worker and his mother, Julia Warhol, was an embroiderer. They were devout Catholics who attended mass regularly, and maintained much of their Slovakian culture and heritage. At the age of 8, Warhol was diagnosed with Chorea a rare and sometimes fatal disease of the nervous system that left him sick for several months.It was during these months, while Warhol was sick in bed, that his mother, herself a skillful artist, gave him his first drawing lessons. He passed away on February 22, 1987. Warhol attended Holmes Elementary school and took the free art classes offered at the Carnegie Institute in Pittsburgh. Warhol began at Sciences High School, and upon graduating, in 1945, he enrolled at the Carnegie Institute for Technology to study pictorial design. When he graduated wi th his bachelors in art he moved to new York. s portrait † untitled from Marilyn Monroe† is basically Just a picture of Marilyn Monroe. Marilyn is an example of the successful evolution of Whorl's goal of erasing signs of the artist's hand from the production process. † brills boxes†Warhol presented the viewer with exact replicas of commonly used products found in homes and supermarkets. † self portrait†Whorl's self portraits that he created throughout his career reveal an underlying theme of performance. By using repetitive images, each slightly different to the next, Warhol produces the illusion of movement.Andy Warhol was a strange man and that was his gift that brought us a new way of looking at the things, people, the world. He took ordinary things that we were so used to that we didn't really notice them and from his unusual perspective made them new and interesting and art. His mother influenced him to become an artist because when he contr acted his condition she was the one who taught him how to draw when he was bed sick. The first painting of Marilyn Monroe, made me feel like it was true about how when she first had passed away everyone was devastated.They cried they were sad. He was very successful communicating his message. The second painting of Brills Boxes, it honestly Just looks like carriages. Its nasty and I don't know why supermarkets would ever have them. He did succeed delivering his message. The last painting of himself, his self portrait was kind of creepy. He may think of himself in a different way but in my perspective I didn't like that painting Andy Warhol Whorl's Flowers, 1967, silkscreen on synthetic polymer paint on canvas, is included in the exhibition. Flowers were quite an inspiration for Warhol time and again. â€Å"Flowers in art and culture have been ubiquitous since the beginning of recorded art history,† says Smith. â€Å"The floral theme wasn't any more exhausted when Warhol was doing it than when 17th-century Dutch painters or the Impressionists were. But Warhol was sly; he was always playing with traditional art historical themes† (Frey). Andy Warhol, 1925-1987, was an American painter, printmaker, and filmmaker.Warhol is famous for art that defied all standard definitions of ‘art'. He was well known for mass-producing the hallmarks of his work. He called his studio The Factory and insisted on the appropriateness of others producing his work, for which he used mainly photographs, often news photographs, which he printed in multiples by the silk screening process. Silk screening is a method of printing on a porous fabric, the portion of the design to be reproduced is left unblocked on the screen; than the screen is placed above the surface to be printed on, than the paint, or dye, is forced through the screen.Warhol appropriated most of his images and repeated these images numerous times; Warhol had a fascination with repetition, perhaps created by our compulsion to find an exception or rogue element in the composition. â€Å"Warhol was relentlessly detached, cool, and superficial: ‘If you want to know all about Andy Warhol Just look at the surface of my paintings and films and me, and there I am. There is nothing behind it,' he said† (Frazier 709). â€Å"The reason I'm painting this way is that I want to be a machine, and I feel that whatever I do and do machine-like is what I want to do.I like boring things. I like things to be exactly the same over and over again. Eve been quoted a lot as saying, ‘l like boring things. ‘ Well, I said it and I meant it. But that doesn't mean I'm not bored by them. Of course, what I think is boring must not be the same as what other people think is, since I could never stand to watch all the most popular action shows on TV, because they're essentially the same plots and the same shots and the same cuts over and over again. Apparently, most people love watching the same basic thing, as long as the details are different.But I'm Just the opposite: if I'm going to sit ND watch the same thing I saw the night before, I don't want it to be essentially the same?I want it to be exactly the same. Because the more you look at the same exact thing, the more the meaning goes away, and the better and emptier you feel† (Stiles 340). Andy Warhol had a legendary and lucrative artistic career from the early sass through 1986; some early key works are included in landmark series such as Campbell Soup, Marilyn, Jackie, Mao, Elvis, Flowers, Disaster, and Self-portraits.Flower's is considered to be one of Whorl's most significant of his later works. Employing mass-production techniques to create works, Warhol erased traditional distinctions between fine art and popular culture, subtly blurring the boundaries of mass art and high culture with his striking appropriations. His choice of subjects tapped into important themes: power, fame, and tragedy. With an unerring eye for iconic images, from common objects to celebrities and disasters, Warhol produced a lasting oeuvre that captured the essence of American culture† (Traditional Fine Art Online).Warhol believed in painting everyday ‘boring objects, but what do boring objects eve to do with Pop Art? Roy Liechtenstein was once asked what Pop Art was, â€Å"the use of commercial art as a subject matter in painting, I suppose. It was hard to get a painting that was despicable enough so that no one would hang it?everybody was hanging everything. It was almost acceptable to hang a dripping paint rag, everybody was accustomed to this. Th e one thing everyone hated was commercial art; apparently they didn't hate that enough either† (Stiles 337). For example, Coke was one of these objects that Warhol produced quite a bit.Coke is something that very American can relate too, and this is what made Warhol enjoy painting the product so much. â€Å"What's great about this country is that America started the tradition where the richest consumers buy essentially the same things as the poorest. You can be watching TV and see Coca-Cola, and you know that the President drinks Coke, Liz Taylor drinks Coke, and Just think, you can drink Coke, too. A Coke is a Coke and no amount of money can get you a better Coke than the one the bum on the corner is drinking. All the Cokes are the same and all the Cokes are good. Liz

Discourse Organization on Asian Fashion Blogs

Discourse Organization of Asian Fashion Blobs Introduction Background of the study Blobbing has emerged as one of the most popular forms of online discourse. The ease and lack of expense in setting blobs has raised intriguing possibilities for language learning in social media. The unique nature of its architecture and its low cost have not only affected how different floggers can publish and distribute their work to a wider audience but also how they see themselves as writers.According to Blood (2002), blobs have been used in various ways: as online Journals, a meaner of signing hypertext's, and more radically, to create what calls the first native form of discourse on the internet. She argues that blobbing best reflects the dream of Tim Burners-Lee (2000), who was one of the principal designers of the World Wide Web, to make the Web into something truly interactive both in terms of how texts are read and how they can be easily posted and accessed.The growing interest in blobbing ha s aroused the interest of English as a Second Language and English as a Foreign Language fashion floggers who see blobbing as a simple and low cost way of giving traders an access to publishing, advertising and distributing their writings on the internet as a method of providing them with the experience of writing in a digital format, and as a meaner of discussing issues related to their social and personal lives. According to Fleischman (2002), blobbing is the art of turning one's own filter on news and the world into something others might want to read, link to, and write about.The openness can give the floggers a greater sense of the variety of possible audiences they can reach, both for understanding these audiences and learning strategies to spoon to them. These types of on-line discussions have been referred to as â€Å"gated communities† (Lowe & Williams, 2004). With regards to world English, Karachi (1992) conceived the idea of three concentric circles of the language . The inner circle represents the traditional bases and is composed of native speakers of English (e. G.United Kingdom, the United States, Australia, New Zealand, Ireland, Anglophone Canada and South Africa, and some of the Caribbean territories). The outer circle includes countries where English is not the native tongue but they use it as a second language (e. . India, Philippines, Singapore, Hong Kong) while those that belong to the expanding circle are the rest of the world where English is used as the primary foreign language (e. G. Russia, China, Japan, Korea, Egypt, Indonesia etc. ). This idea has helped to classify the eight Asian countries that will serve as the subject in this study on how they use English as a language.Kaplan (1966) claims that English writing is characterized by directness and deductive reasoning, while other languages (e. G. Oriental languages and Arabic) favor indirectness and inductive reasoning. At the same time, he attempts to link the differences in discourse organization between English and other languages to their respective cultures and thought patterns. He marked the birth of the notion now known as Contrastive Rhetoric. It assumes that different languages had their own specific and culturally bound conventions and patterns of writing.This may also tell if there are such characteristics in Asian fashion blobs. Moreover, with regards to each Asian flogger's writing style, contrastive rhetoric should also be considered. Contrastive rhetoric is an area of research in second language acquisition that identifies problems in imposition encountered by second language writers and, by referring to the rhetorical strategies of the first language, attempts to explain them. As summarized by Connors (1997), some internal and external forces give rise to this change in perspective.The internal force comes from criticism of contrastive rhetoric, which has required it to go beyond traditional linguistic parameters of analysis to consider discursive features, processes and contexts of writing. The external forces come from new developments in discourse analysis and changing focuses in first language composition research. To enrich further the structure of each blob, genre analysis will also be considered. This may identify if fashion blobbing belongs in a specific genre by studying how the SSL and FEEL floggers use the language when writing. The focus of this study is on the discourse organization of Asian fashion blobs.Considering their writing style, comparing the blobs of these particular Asian countries that are categorized into two groups will be done throughout the study. Statement of the problem This study aims to answer the following questions: 1 . What are the structures of a fashion blob? . What are the similarities and the differences between the fashion blobs of SSL and FEEL writers? Significance of the study College students of English Language Related Programs Knowing that blob can also be studied as it is a part of our social world, this study can still be given more attention by giving further enrichment by the future researchers.They can provide new findings supported by different related literatures. As the traditional way of analyzing language data from academic institutions, this paper will thoroughly investigate the language used in fashion blobs. This will further explore the online discourse by plunging into the grounds of computer-mediated-communication (CM). Researchers in the Field of Linguistics This research paper will be able to support future research papers that are related to discourse analysis, world English, contrastive rhetoric and genre analysis.As most of us today enjoy the web 2. 0 which includes blobbing (http://www. Slideshows. Net/ muzzy/blobbing), it challenges the researchers to become more analytical in their field. As language researchers move forward by conducting thorough investigations, here will probably be new ideas that will be contributed to t he field of Linguistics. Teachers and Professors of Language The study on contrastive rhetoric among students has always been limited to the doctorate material for pedagogical purposes which is believed to limit learners' ability to express themselves.The paper will further explicate the online discourse specifically fashion web logging which has been considered as one of the tools to express oneself in social network. This would provide enough knowledge to expand the language teachers' repertoire in different writing styles. Floggers Whether these people are in different forms of blobbing, this study may inform them how important language is. In fashion blobbing, it is inspired with different marketing strategies boxed with pictures that are inviting, description of every detail of it and stories experienced by the flogger.Also, they may be informed that this style of marketing includes certain rhetoric in it. Furthermore, this style of writing can be one of the factors of the incr easing subscribers and viewers. A. Scope and Limitation With the number of studies about the circularity and linearity among the SSL and FEEL argumentative essays, court proceedings, business letters and newspapers, this paper focuses on the discourse organization of Asian fashion blobs. The study will only look into the structure of a fashion blob and to identify the differences and similarities of SSL and FEEL writers.The FEEL countries are Malaysia, Indonesia, Cambodia and Thailand and the SSL countries are India, Singapore, Philippines and Hong Kong. These countries are only limited for each group. B. Definition of terms Blob is another term for web log, a social networking site (http://www. Slideshows. Net/ cubic/blobbing) of discussion or information site published on the World Wide Web consisting of discrete entries (â€Å"posts†) typically displayed in reverse chronological order so the most recent post appears first. Usually, it is being used as an online Journal (ht tp://en. Wisped. Erg/wick/Blob). FEEL stands for English as a foreign language and pertains to how speakers use English for limited utilities, for example, for research references and sign boards. The countries that belong to this group are Malaysia, Indonesia, Cambodia and Thailand while, SSL stands for English s a second language and refers to English speakers who could speak it intensely and intimately. In Cracker's concentric circles, this group encompasses the countries that were colonized by the Western countries such as India, Singapore, Hong Kong and Philippines ( Karachi and Nelson, 2006).

Read These Definition Essay Examples from Our Sample Writers or Use Online Help

Read These Definition Essay Examples from Our Sample Writers or Use Online Help A definition essay is a piece of writing that explains what a term or a concept means. The term may be evaluated from the direct or exact meaning and from the point of the subjectivity of the person defining the term. The aim is not only to provide the dictionary definition but also to expound on why the word is defined in such a manner. What Is a Definition Essay? A definition essay  is a piece of writing that explains what a term or a concept means. Some terms have definite, concrete meanings, such as glass, book, or tree. Terms such as honesty, honor, or love are abstract and  depend  more on a persons point of view. The term may be evaluated from the  direct or  exact meaning and from the point of the subjectivity of the person defining the term. The aim is not only to provide the dictionary definition but also to expound on why the word is defined in such a manner. The approach to be used depends on the subject, your readers, and the essay’s purpose. Definition Essay Example on Emotional Intelligence What Is Emotional Intelligence? Emotional intelligence is a term that is commonly used in corporate entities by managers and employees alike to assess the feelings of people in the workplace that may affect productivity. Emotional intelligence denotes one’s ability to manage subjective emotions and that of other people. It entails the capacity of a person to connect sentiments and use them to resolve complications and deliberate critically. Additionally, it entails the ability of a person to control their own emotions and to cheer up or calm down other people. The term emotional intelligence was first invented in the nineteen hundred’s by two psychologists, Salovey and Mayer. However, the term gained much popularity later in 1995 used it in his book entitled, â€Å"Emotional Intelligence: Why can it Matter more than IQ?† In this book, Goleman claimed that emotional intelligence is a central part of human development. Moreover, he identified the five main spheres of emotional intelligence as; knowing one’s emotions, managing those emotions, motivating oneself, recognizing and understanding other people’s emotions and managing relationships. Today, emotional intelligence is widely used in organizations to allow those with highly developed social skills to excel just like those with good academic qualifications. Emotional Intelligence vs. IQ The intelligence quotient refers to an assessment of the ability of a person to think and reason. The intelligence quotient is measured using the IQ score which is a method of measuring a person’s IQ against others who are in the same age bracket. The term intelligence quotient stemmed from the early research by psychologists on intelligence. The research which mainly focused on the intellectual aspects such as problem-solving and memory became known as intelligence quotient. The perceptive aspects of intellect were found to be easy to measure. For a long time, even though intelligence quotient was considered to be more important than emotional intelligence, psychologists, through several studies have proved that the reverse is actually true. The academic intelligence of a person, for instance, has nothing to do with the person’s emotions. Having excellent academic grades and getting well-paying jobs does not determine how a person is likely to react to the situations and the storms of life.   People with very high IQs are found to be very poor in managing their own lives. As Goleman argues, concentrating on the academic performances without inclining an ear to emotional intelligence results in a character that is likely to affect an individuals destiny adversely. Another reason why emotional intelligence is considered more important than intelligence quotient because it enables people to fit in all domains of life. It is evident that people who are emotionally skilled are better equipped to fit in all spheres of life. People who know how to manage their own emotions and can read and manage the feelings of other people are said to be comfortable in all life spheres including intimate relationships and work relationships. However, the lack of the ability to control one’s emotions can result in inner battles that limit their capacity to work and think clearly. The Merits of Person with High  Emotional Intelligence One of the merits of persons with extraordinary emotional acumen is the capacity to embrace modifications. Emotionally intelligent people apprehend that change is unavoidable and is a fragment of life. As a result, they embrace change as part of their daily lives and plan in advance should changes arise. Secondly, emotionally intelligent people pay attention to their work and do not get easily distracted from their original course. Thirdly, emotionally smart folks are empathetic. Goleman states that compassion is a unique and significant constituent of emotional intelligence. Emotionally intelligent people are thus capable of relating to others, showing compassion and helping others when they are in need. Other qualities of emotionally intelligent people are self-motivation and the ability to set boundaries. One of the ways through which people can improve their emotional intelligence is through avoiding negative feelings. This can be achieved by reducing negative personalization and reducing the fear of rejection. People can provide themselves with alternative options to a situation, making them have alternatives no matter the outcome of a situation. Another way of improving emotional intelligence is staying cool even when stressed. Keeping cool while handling stress can help a person to be assertive rather than being reactive to a situation thus enabling them to be more emotionally intelligent. Additionally, emotional intelligence can be improved by the ability to bounce back from adversity. Bouncing back from difficult moments enables people to have empathy for others hence better emotional intelligence. Other ways of improving emotional intelligence are; connecting one’s feelings with the thoughts and creating a positive environment. 15 INTERESTING DEFINITION ESSAY TOPICS Definition Essay Example on Respect How Do We Define Respect? One of the most important ways of establishing and maintaining lasting relationships both at home and at work is having respect for oneself and others. The term respect refers the recognition of the values of people and things and treating them with care and concern. It means having a deep admiration for someone or something. This admiration stems from the accomplishments, abilities and the qualities of a person. Additionally, respect encapsulates the way one thinks about someone or something. For instance, an employer can be said to have respect for his employees if he admires their abilities and accomplishments in the workplace and treats them well. Respect determines the way in which a person lives as well as the interaction with other members of the society. Respect for oneself, for instance, restrains a person from engaging in risk-taking behaviors that can cause the destruction of both the body and mind. Moreover, having respect for each other at home, in the workplace, and in the society at large help in reducing conflicts, disagreements and misunderstandings thus contributing to peaceful coexistence and a harmonious society. One can also demonstrate respect for things because of the inherent values they have. The fundamentals of respect, consequently, remain constant whether a person or an item is in question. Why Is Respect so Important? Respect plays a central role in building and maintaining healthy and lasting relationships. First, respect helps in establishing open communication between the parties in relationships. In families, for instance, having respect helps the members to be trustworthy, honest and straight forward. This way they are capable of abiding by the family rules and living peacefully. Additionally, open communication emanating from respect is useful in the workplaces. Respect enables the employers and employees alike, to communicate with each other in a professional and honest manner. This way, people feel free to convey their opinions and ideas in without being interrupted. Secondly, respect is significant in building trust in relationships. The flourishing of relationships, whether family, business, intimate or working relationships depends on trust. Respect for oneself and others can help in building trust.   An employee who fulfills the responsibilities and delivers in time because of the respect for his job and employers, for example, is capable of gaining the trust of the employees. Consequently, the employee has higher chances of being promoted. Additionally, having respect in relationships results in trust between couples making them have better and healthier relationships. Moreover, respect is important in relationships since it is the key to happiness. Having respect for others enables a person to become more tolerant and embrace people’s differences. Additionally, respecting the views and beliefs of others limits conflicts and confrontations among the people. The result is the peaceful coexistence between people that gives them inner peace, contentment, and happiness. Furthermore, having respect for other people boosts their esteem since they feel appreciated. How to Become a Person of Respect? One of the ways of becoming more respectful to others is honesty. Honesty comprises vital traits like truthfulness, straightforwardness, and integrity. It is important to realize that people would like to be dealt with honestly. Therefore, showing respect for others entails being honest in words and actions. Additionally, one should be responsible for their words and make people know that they are reliable. An additional approach of displaying respect to others is by exhibiting kindness. When dealing with family, friends or colleagues, showing kindness makes them feel appreciated and loved. One of the ways of showing kindness to others is watching one’s tone when addressing others. It is important to note that no one wants to be ordered around and using the golden words such as please and thank you can aid in showing respect. Obedience is another way through which one can show respect to others. If asked by an elderly person or a person in authority to do something which is not harmful or immoral, one should obey and follow the instructions. Other ways of being more respectful are; taking care of one’s mess, exercising fairness, courtesy, avoiding putting blames on others and listening to others without interrupting. Personally, I think respect means accepting people for who they are and learning to live with them harmoniously despite our differences. It involves embracing other people’s strengths and weaknesses without prejudice. By learning to accept other people, we reduce our engagements in conflicts and other disrespectful behaviors such as name calling and hauling insults at each other. The end result is a cohesive and harmonious society. If you need assistance with essay writing contact our friendly support team or place an order and our professionals will write a great paper for you.

ORGANISATIONAL BEHAVIOR Essay Example | Topics and Well Written Essays - 1250 words

ORGANISATIONAL BEHAVIOR - Essay Example Having an experience of over 40 years, I had the ability to manage work place diversity because in the marketing section I met a lot of people with different backgrounds. Since employees act as the image of the firm, by properly treating the customers it also promoted the image of Holden Company. Holden’s employees clearly comprehended their individual goals and objectives and how they relate to the greater goals of the company, were found to be naturally engaged in their work. Most firms have to the realization that achievements are associated with their ability to manage, track and communicate goals and aims-informing their employees and connecting reward system with group and individual performance in order to keep them engaged in their work. Since I am also an Australian, I was able to note that the process of setting goals and objectives, aligning them with the corporate aims and tracking them made the Holden Company to easily focus on strategy and greater execution of business. Therefore, there is always a direct relationship between financial and non financial rewards with respect to motivation and employee satisfaction (Bruce & Pepitone, 1999:104-108). This includes both the younger employees like Mike and older employees like me. Motivation is what makes people to have that drive to do something thus the driving force of human behavior. Motivation within an individual accounts for the direction, level, and persistence of the effort expended at work. The level refers to the intensity of effort put forward by a person. Direction represents the individual’s choice when faced with several alternatives. Persistence is determined by how long an individual will stick with a given action. As a result it initiates, guides and maintain the goal oriented behaviors hence motivation it is what drives one to take a cause of action (Laubly,

Briefly explain Socrates view of justice, as found in The Republic. In Essay

Briefly explain Socrates view of justice, as found in The Republic. In your explanation, make sure to include his views on the State and the individual soul. Do you agree or disagree with Socrates' view - Essay Example In short, Socrates argument with regards to justice can be condensed into the following dictum – justice necessarily includes helping friends and protecting them from evil; however, this cannot take place at the expense of another. As a means of building upon this concept, Socrates states that payment of debt in and of itself is a form of justice as is helping a close friend or ally. This discussion of help and aid with regards to a close friend or ally is unique due to the fact that it instantly conjures a situation in the mind of the reader or listener in which a friend is threatened by a third party and it is the responsibility of the other friend, according to Socrates’ understanding of justice, to intervene on his behalf as a means of providing justice to the situation. The issue that arises with this particular understanding of justice is the fact that Socrates goes on to state that violence is not permissible as a means of conflict resolution under any case. This of course leads the reader to question how justice is to be applied under Socrates’ definition if one seeks to rigidly uphold the determinants that he has lain out in his argument. For instance, if one understands that the primal motivator of justice is seeking to the do the right thing and if therefore seeking to do the right thing must necessarily include protecting a friend from the meddlesome or violent threats of a third party/individual, what then is the responsible friend to do in such a situation which is likely to culminate in violence; stand idly by or ignore the first dictates of Socrates’ argument. Socrates’ definition of justice further can be broken down into the wide dictum that if merely everyone showed attention to the way things ought to be, the ideal society, full of justice, would at last be realized. Although one can of course state that such an interpretation is utopian, the fact of the matter is that this definition of what justice entails is also a