An Acquaintance with Darkness

An Acquaintance with Darkness by Ann Rinaldi Ann Rinaldi has written a book that weaves history and fiction into a wonderful book, and this is why I have chosen this book. It covers some important parts of history and the reader sees it through the eyes of a thirteen old girl. The book is dark with intrigue and gross medical stuff, so students should love it. While the assignation and arrest of Mary Surratt is the major historical event around which the book is written, it is more about the state of medical science in the US at the end of the war and how it was impacted by the war.For instance, Rinaldi's author's note starts out focused on the history of medical dissections in the united states, and then goes on to describe its history in Europe. She then describes the history of hospitals, medical schools and medicine in the US. She doesn't turn towards the conspiracy to kill Lincoln till later. Emily's best friend is Annie Surratt, the daughter of Mary Surratt who was hung for her part in the conspiracy to murder Lincoln. Students will see this part of history through a different point of view, not just learning about it through their textbook.I also think students will relate with Emily, because she wants to see the good in everything. She wants to believe the world is a good place. She judges her Uncle for something she believes is horrible and doesn’t understand because of her young, innocent age. Then the reader sees her grow as into a young lady, where she isn’t so innocent anymore. Emily realizes the world isn’t perfect and she shouldn’t have judged her Uncle, because he was snatching dead bodies to help medical science and save more lives during a horrible time of war. At the end of Ann Rinaldi’s book, she has questions for teachers to discuss with their students.This will make it easy to have literature circles with students. This book relates to my content area because it is a historical fiction book. Ann Rinaldi ha s taken many facts from history and put them in a wonderful fiction book. If I was a teacher of History, I could relate this to our unit on the Civil War around the end of it when Abraham Lincoln was assassinated. This book takes a look at the Surratt Family and how they were involved with John Wilkes Booth. This is usually a glimpse of history many students don’t know about. I don’t remember learning this when I was in school.I think kids are interested in anything related to death, and this book is full of it. They will learn about Lincoln’s assassination, the hanging of Mary Surratt, and how doctors snatched dead bodies to benefit medical science. This book ties a lot of factual information to the Civil War, and it is interesting to read. I think this is a way to supplement the main textbook, to give kids a different perspective of the war. Many of our discussions in class have centered on supplementing the main text. I think by adding interesting books about what they are studying will make them want to learn more about that era.So by picking this book that tells about a girl in the time of the Civil war, they will see certain aspects of that time period in a different way. They will be able to relate to it more because this girl is around their age. They will be seeing it through her eyes. I think this is so important when teaching, because I want kids to be excited to learn about history. I think to do that you have to find some way to relate it to them. Having kids around that age, I have found that they don’t care about it if it doesn’t relate to them, or they can’t understand it, or it’s boring. I know a lot in school will be boring to them.That is why it’s important to find certain things to â€Å"jazz† up the lesson. After reading this book, I found myself wanting to learn if doctors in that time really had to snatch bodies to study on. I think this book will be a way to get them interes ted in studying certain parts of the Civil War. I think they will want to learn more after reading this book. The two main activities that I could use in my classroom that relate to the book, are Literature Circles and List-Group-Label. I will introduce the book with the List-Group-Label activity to see what prior knowledge the students have.By doing this activity first it gets them thinking about the Civil War Era and discussing it. I hope for some students they will learn things they might not have know before the discussion. Then during the time that we are reading the book, I will have them split into groups every Friday and do literature circles. I will have discussion sheets that they will have to fill out as a group. This will give them a chance to learn from eachother and give them a since of responsibility. I think these activities will work well together in creating a fun unit.

Axis Bank Future Plans

Axis Bank plans VRS to cut flab at top Anita Bhoir, ET Bureau  Dec 12, 2012, 06. 00AM IST * (The bank plans to roll out†¦) MUMBAI: Three years after  Shikha Sharma  took the corner room at Axis Bank, the country's third-largest private sector lender is making another attempt to cut flab. The bank plans to roll out an early retirement scheme for senior employees aged 40 or more, who have been with the lender for 10 years or longer. This is the bank's second attempt to trim its 31,000-strong workforce since 2009.The first attempt had received a lukewarm response, and this time the private sector lender has tailored the scheme to target people who may be good performers but don't have the ability to make it big. â€Å"This time, the scheme seems to be more targeted and we hope executives will prefer to accept it rather than be fired at a later date on the pretext of non-performance,† said an  Axis Bank  official, who requested anonymity. â€Å"The management wants to reduce the number of vice-presidents and senior vice-presidents. It wants a leaner and younger organisation,† the official added.Axis Bank is not the first private institution to offer an early retirement scheme. In its earlier avatar as a financial institution, ICICI had introduced its first  VRS  in 1996-97. The second scheme came in late-1999. Later, in 2003, the KV Kamath-led  ICICI Bank  announced an early retirement offer targeted at erstwhile employees of ICICI and Bank of Madura. Shikha Sharma, who headed ICICI Prudential before taking up the reins at Axis Bank, seems to be following the ICICI management style in her new job. Axis has 31,738 employees. Its staff cost was 577. 90 crore at the end of September 2012, compared with 498. 2 crore in the year-ago period. â€Å"The bank may face immediate financial burden as it would have to make lump sum payments to employees. However, over a period it would led to cost savings,† said Kajal Gandhi, an analy st with ICICI Securities. http://articles. economictimes. indiatimes. com/2012-12-12/news/35773778_1_shikha-sharma-axis-bank-private-sector-lender Axis Bank plans Rs 6000 crores share sale to meet Basel III norms ET Bureau  Dec 18, 2012, 08. 06AM IST MUMBAI:  Axis Bank, the country's third-largest private bank, is looking to sell as many as 4. 8 crore new shares to boost its capital before the  Basel-III norms  kick in, which at current prices may help it fetch more than Rs 6,000 crore. The lender, headed by  Shikha Sharma, will be the second private sector bank to raise funds this year after IndusInd Bank. City Union Bank's rights share sale is underway whileYES Bank  and  Development Credit Bank  are also in the process of raising equity. ICICI Bank  and  HDFC Bank  may also reach out to investors in the coming months for funds as the market for equity issuances opens up and the need to raise funds increases to meet capital norms. The capital raising is large ly to fund growth and also to meet Basel-III norms,† said  Kajal Gandhi, analyst ICICI Securities. â€Å"Other private sector banks like YES Bank and  IndusInd Bank  have also raised funds recently. † The equity issuance by Axis will lead to a 10. 75 per cent dilution. Axis said its board has approved the fund-raising plan, which will either be a domestic sale to institutions or a GDR issue. It also retains the right to sell to existing holders. Indian lenders are raising capital as loan growth is seen picking up next year after more than a year of sluggish demand.With the government proceeding with some reforms, investment demand may accelerate and banks will need to keep a higher capital buffer. RBI's plan to implement the Basel-III norms to prevent a repeat of the 2008 financial crisis mandates banks to keep higher capital. It will be implemented in phases over six years. Axis Bank's tier-I capital, or equity capital, is at 8. 99 per cent, compared with 7 per c ent prescribed by Basel-III norms. http://articles. economictimes. indiatimes. com/2012-12-18/news/35890925_1_basel-iii-shikha-sharma-axis-bank Axis Bank plans to step up lending to MFIsKOLKATA  Ã‚  Aug 13, 2012 Axis Bank – which had gone slow on lending to the microfinance institutions (MFI) post the recent crisis in the industry – now plans to scale up its exposure to the sector. The bank also looks at direct lending to self-help groups. â€Å"We had gone slow on lending to the MFI sector due to the recent crisis. However, with the regulations in place we plan to step up our lending to the sector,† said Ms Shikha Sharma, Managing Director and Chief Executive Officer, Axis Bank. The bank's exposure to MFIs was earlier in excess of Rs 800 crore.She was talking to newspersons on the sidelines of the launch of a financial inclusion programme organised by Axis Bank Foundation and microfinance institution Bandhan here on Saturday. MFIs have been recently criticise d on issues of multiple lending, evergreening of loans, lack of due diligence and coercive recovery practices. Axis Bank, Ms Sharma said, aims to achieve a credit growth in excess of 18 per cent during the current year. â€Å"The RBI has projected a growth rate of 18 per cent, we are hopeful of doing better than this,† she said.Asked about concerns regarding asset quality, she added, â€Å"There are no signs of rising defaults in the system at present. † http://www. thehindubusinessline. com/industry-and-economy/banking/article2354147. ece Axis Bank launches new campaign ‘Zindagi ke highway pe koi akele nahin badhta’ Udaipur, January 23, 2013: Axis Bank, India’s third largest private sector Bank, today announced the launch of its new campaign ‘Zindagi ke highway pe koi akele nahin badhta’ that aims to drive home the message that progress and subsequent success is mutual.The campaign designed by Lowe Lintas features Axis Bank’s Br and Philosophy ‘While we keep progressing in our lives, there always is someone else progressing along with us, so let’s Progress Together’. The campaign highlights Axis Bank’s credentials as a customer centric bank and a partner in progress who walks with its customers on the highway of life – hence the tag line Zindagi ke highway pe koi akele nahin badhta. Speaking on the launch of the campaign, Mr. R. K Bammi, Executive Director – Retail Banking, Axis Bank said, â€Å"The new film takes our brand positioning of Badhti ka naam zindagi†¦ or Progress On†¦ ahead.We understand that Progress always has a ripple effect. When one person progresses, others around him progress too. This insight is captured in our new TVC that clearly demonstrates the circle of progress and how you touch lives of others even when you do not know them. † Explaining this new phase in Axis Bank’s communication journey, Arun Iyer, National Creativ e Director, Lowe Lintas says that, â€Å"Last year we crafted ‘Badhti ka naam zindagi’ to define the fundamental philosophy for Axis Bank. The task this year was to continue building this sentiment on a larger canvass.What better than changing the frame of reference from what it means for one individual, to what it means in the context of the entire community we live in? The fact is that when you progress, others benefit too. And hence no one really progresses alone. When you move up, others do too. We hope the execution will make our audience have this joyful realization about how we are connected with each other. † Taking its philosophy of progress together Axis Bank plans to enable its customers to acknowledge contributions of others in their progress through an application called ProgressTogether.The application would be hosted on a microsite which can be reached on the URL www. progresstogether. in and will also be mirrored on Facebook. com on the Axis Bank page. Customers can use the application from their PCs and from their tablets. http://thetimesofudaipur. com/? p=1308 Axis Bank eyes 30 per cent retail assets by FY15 Press Trust of India | Updated On: October 17, 2012 12:46 (IST Private lender Axis Bank plans to increase the share of its retail lending from the present 26 per cent of the total loan book to 30 per cent by 2015, a top official said on Tuesday.As of the September quarter, the third largest private lender saw its retail loan book jump by 5 percentage points from the year-ago period, Axis Bank Executive Director Somnath Sengupta told reporters in a post-earnings conference call. On a year-on-year basis, the retail banking grew 43 per cent as of the second quarter, while large and mid-corporate banking grew just 15 per cent, he said. â€Å"The focus on retail assets will continue to grow, and our target is to take it further to 30 per cent by the end of FY15.It is a part of strategic intent to grow the retail book. We a re expanding through home, auto and personal loans. We are also selling credit cards to our existing customers. † On Monday, the bank reported better-than-expected Q2 numbers logging in 22. 08 per cent rise in net profit to  Rs. 1,123 crore. Terming the quarterly numbers as satisfactory despite a challenging environment, Sengupta said retail advances and lower expenses helped the bank post good numbers.Total income rose 27 per cent to  Rs. 8,280. 29 crore in the July-September quarter. NII rose to  Rs. 2,327 crore from  Rs. 2,007 crore, while other income grew 29 per cent to  Rs. 1,593 crore, driven by growth in fee income which stood at  Rs. 1,343 crore, a growth of 20 per cent. The bank saw its trading income rise to  Rs. 207 crore during the quarter, he said. The bank improved its net interest margin to 3. 46 per cent in the reporting period from 3. 37 per cent at the end of the first quarter.Sengupta further said the bank could maintain asset quality as its g ross NPAs and net NPAs stood barely unchanged at 1. 10 per cent and 0. 33 per cent, respectively as against 1. 08 per cent and 0. 34 per cent as of September 2011. The bank held a provision coverage of 80 per cent as a proportion of gross NPAs, including prudential write-offs. The bank had made an additional provision of  Rs. 115 crore in the quarter, he said, adding it has provided for the exposure to the troubled Hyderabad-based Deccan Chronicle Group, which has become a bad asset now.However, Sengupta did not reveal whether the bank has made full provisions for the Deccan loans and also the exact amount of the exposure. However, it has been learnt Axis Bank has exposure of over  Rs. 400 crore to the diversified company. Asked about the bank's exposure to the state-run power distribution companies (discoms) whose  Rs. 1. 9 trillion of debt was recast last month, he said it was â€Å"limited† but refused to quantify it. Similar was his response when asked about the tex tile sector, whose  Rs. 16,000 crore of debt is being recast with government intervention now.Sengupta also refused to disclose the status of other two default accounts– SevenHills Hospital (exposure at around  Rs. 463 crore) and Icomm Tele (around  Rs. 220 crore). About fresh slippages during Q2, he said the quarter saw a gross slippage of  Rs. 628 crore primarily due to a large corporate account. During the quarter, the bank saw  Rs. 99 crore incremental slippages net of restructuring and upgrades. http://profit. ndtv. com/news/corporates/article-axis-bank-eyes-30-per-cent-retail-assets-by-fy15-312162

Gen Chem Study Guide

A. WORK-OUT PROBLEMS: Write formulas for the following: calcium nitratephosphorous pentafluoride aluminum carbonatestrontium hydroxide methanepotassium oxide lithium chloridebarium sulfate phosphate iondinitrogen tetroxide Give the complete electron configurations of: S, O2-, and Mn. For the following molecules/ions, give the Lewis structure, molecular geometry, and electron pair geometry: NO2-SF4 Write Lewis structures to represent all resonance forms of CO32-. 5. How many joules of heat energy are lost when a 100-gram sample of a metal (with a specific heat of 0. 312 J/(g?C) cools from 80. 0? C to 30. 0? C? Calculate the number of moles in: 4. 20 X 1024 molecules of SO2 240 grams of NaOH 5. 00 liters of H2 gas at 0? C and 1. 00 atm. 1. 7 liters of Ar gas at STP 7. How many grams of AlCl3 can be prepared from 50. 0 g of Al and 100. 0 g of Cl2 according to the equation: 2 Al + 3 Cl2 ? 2 AlCl3 ? How many neutrons are there in 131I? Which bond is the most polar? I-ClI-Br I-SI-I Circle the molecules that are polar (have a dipole moment): CCl4CH4H2ONH3HBrCHCl3 CCl2F2 How many unpaired electrons does the Si atom have?Write the correct Lewis structure for CS2. Write the formal charges on each atom in [F-S=F]2+ (lone pairs are not shown). How many ions are formed when Ca3(PO4)2 dissolves? How many protons, neutrons, and electrons are there in 19F- ion? Discuss the properties of molecules used as liquid crystals. (ignore this question) What is the molarity of the solution made when 1. 25 grams of sodium chloride are dissolved in 500 mL of water? What is the hybridization of the carbon atom C2H2 ? What is the molecular formula of a compound with 30. 5% N and 69. 5% S, and it has a molar mass of 184 g/mol?How many electrons are found at the sublevel 1=2? How many sigma and how many pi bonds does carbon dioxide have? How many milliliters of 2. 5M solution are needed to prepare 500 mL of 0. 08M solution? How many milliliters of 1. 25M hydrochloric acid are needed to neutra lize 50. 0 millimeters of 0. 55M barium hydroxide? The vapor pressure of SiCl4 is 100 mmHg at 5. 4? C and the normal boiling point is 56. 8? C. What is ? Hvap for SiCl4 in kJ/mol? B. MULTIPLE CHOICE A 34. 6 g sample of calcium oxide is a. 0. 0346 molb. 0. 617 molc. 1. 23 mold. 34. 6 mol 2.When the following equation is balanced, the total number of nitrogen atoms on the reactant side is:BaCl2(aq) + AgNO3(aq) ? Ba(NO3)2(aq) + AgCl(s) a. 2b. 3c. 4d. 6 Given that 4 HNO3(aq)? 4NO2(aq) + 2 H2O(l) + O2(g), the amount of NO2 which could be produced from 3. 00 mol HNO3 is: a. 138 gb. 177 gc. 184 g d. 236 g Given that 3 CuCl2(aq) + 2 Al(s) ? 3 Cu(s) + 2 AlCl3(aq), the amount of Al required to produce 42. 4 g of Cu is: a. 12. 0 gb. 28. 3g c. 40. 5 gd. 42. 4 g The type of substance least likely to appear as a product in a net ionic equation is a soluble saltc. weak electrolyte an insoluble saltd. an insoluble gas When a solution of NiBr2 is mixed with a solution of (NH4)2CO3 the net ionic equa tion is: a. NiBr2(aq) + (NH4)2CO3(aq) ? NiCO3(s) + 2 NH4Br(aq) b. Ni2+ (aq) + 2Br- (aq) ? 2 NH4+ (aq) + CO32- (aq)? NiCO3(s) + 2 NH4+ (aq) + 2 Br- (aq) c. Ni2+ (aq) + CO32-(aq) ? NiCO3(s) d. Br-(aq) + NH4+ (aq) ? NH4Br(aq) When a sample of chlorine gas at 35? C doubles in volume, its pressure stays the samec. is half as great doubles d. increases fourfold A 385-mL sample of oxygen gas collected at 747 mm Hg and 27. 4?C would occupy what volume at STP? a. 344 mLb. 356 mLc. 416 mLd. 431 mL A 9. 74 g sample of CO2 will occupy 6. 37 L at 0. 829 atm only if the temperature is a. 17. 6? Cb. 6. 61? Cc. 564? C d. above 100? C A sample of N2 would obey the ideal gas law most closely at 0. 68 atm and –68? Cc. 680 atm and –68? C 0. 68 atm and 680? Cd. 680 atm and 680? C A 50. 0 g sample of an unknown substance absorbed 1. 64 kJ as its temperature changed from 36? C to 98? C. The specific heat of the unknown is: a. 0. 53 J/(g? C)b. 0. 76 kJ/(g? C)c. 1. 3 kJ/(g? C)d. 1. 9 kJ/(g?C) The formation reaction in this list is a. Sn(s) + 2Cl2(g) ? SnCl4(l)c. 2C2H5OH(l) + 7O2(g) ? 4CO2(g) + 6H2O(l) b. 2HNO2(l) + NO(g) ? 3NO2(g) + H2O(l) d. 2Cl2O(g)? 2Cl2(g) + O2(g) For CH4(g) + 4Cl2(g) ? CCl4(g) + 4HCl(g), ? H? =-402 kJ. How much HCl was formed when 201 kJ were given off? a. 18. 2 gb. 72. 9 gc. 146 gd. 292 g Use the thermochemical equations below to calculate the enthalpy of reaction for NOCl(g) + Cl(g) ? NO(g) + Cl2(g) N2(g) + O2(g) + Cl2(g) ? 2NOCl(g)? H? =105. 2 kJ N2(g) + O2(g) ? 2NO(g)? H? =180. 7 kJ Cl2(g) ? 2Cl(g)?H? =243. 2 kJ a. 529. 1 kJb. 264. 6 kJc. -83. 85 kJd. –167. 7 kJ The energy of a photon of electromagnetic radiation is directly proportional to its a. speed in a vacuum c. frequency b. wavelength d. diffraction The volume in space where an electron with a particular energy is likely to be found is called a wave functionc. the spin quantum number a photond. an orbital The frequency of a microwave with a wavelength of 12. 2 cm is a. 8. 08 x 10-3 3 Hzc. 2. 46 x 107 Hz b. 3. 66 x 109 Hzd. 2. 46 x 109 Hz The number of orbitals in the 4p subshell is a. 1b. 3c. 5d. 18The energy difference between the two energy levels responsible for the 451 nm blue-violet line the emission of indium is a. 6. 65 x 105 Jc. 2. 27 x 1018 J b. 1. 50 x 105 Jd. 4. 40 x 10-19 J The maximum number of electrons contained in a 3d subshell is a. 2b. 6c. 10d. 18 The number of valence electrons shown in the Lewis formula for SF4 is a. 40b. 34c. 32d. 5 The formal charge on O in the compound H2O2 (in the order HOOH) is a. 0b. –2c. –1d. –3 The resonance structures for SO2 include each of these except a. O=S-Ob. O-S=Oc. O=S=Od. S-O=O The O-S-O bond angle in SO2 is closest to a. 0? b. 109. 5? c. 120? d. 180? Of the following substances, the least polar bonds are those found in a. H2b. H2Oc. H2Sd. CH4 Matter is said to be transparent to those wavelengths it a. absorbs b. diffractsc. cyclesd. transmits In formaldehyde (H2CO) the electron pairs are located about the central atom in which type of arrangement? a. pyramidal b. tetrahedralc. trigonal planard. bent The molecular geometry of SO3 is best described as a. linearb. trigonal planarc. tetrahedrald. bent The molecular geometry of CO32- is best described as a. linearb. trigonal planerc. tetrahedrald. bentOf the following, which has a molecular geometry that is not planar? a. CH4b. H2COc. C2H4d. SO3 When a solution of sodium chloride and a solution of lithium nitrate are mixed a precipitate forms a new salt is formed a gas is evolved no reaction occurs When solutions of barium chloride and sodium sulfate are mixed, the spectator ions in the resulting reaction are a. only Ba2+b. only SO42-c. Only Na+d. both Na+ and Cl- Which of the following ionic compounds is insoluble in water? a. NH4Clb. AgNO3c. KId. Na2S Given that Fe2O3(s) + 3CO(g) ? 2Fe(s) + 3CO2(g), when 45. 3 g of CO reacts quantitatively with 79. g of Fe2O3, the amount of Fe formed is a. 45. 3 gb. 55. 8 gc. 60. 2 gd. 79. 8 g For the above reaction, when 45. 3 g of CO reacts quantitatively with 79. 8 g of Fe2O3, the amount of leftover reactant is a. 34. 5 gb. 24. 0 gc. 17. 8 gd. 3. 2 g 36. The oxidation numbers of P, S and Cl in H2PO2-, H2S and KClO4 are, respectively a) -1, -1, +3 b) +1, -2, +7 c) +1, +2, +7 d) -1, -2, +7 e) -1, -2, +3 37. Identify the oxidizing agent in the following redox reaction. Hg2+(aq) + Cu(s) > Cu2+(aq) + Hg(l) a) Hg2+(aq) b) Cu(s) c) Cu2+(aq) d) Hg(l) e) Hg2+(aq) and Cu2+(aq)

Leadership term paper Essay Example | Topics and Well Written Essays - 1500 words

Leadership term paper - Essay Example So good leadership is basically related to person’s abilities, skills and degree of influence. Good leaders have the capacity to inspire and motivate others to achieve goals. Moreover, good leadership involves managing relationship and communicating within an organization towards a specific targets. Christian churches and organizations are different from other institutions in many ways. Their structures, size and services are determined by internal and external forces such as location, services and personalities. An effective Christian pastor combines different character traits and skills while administering his pastoral responsibilities. Most of the Christian pastors feel that god has given them a unique calling for their life, and they have spiritual gifts of teaching. Generally, the three leadership models used by pastors are coach/ team, shepherd/sheep, shared leadership. So Shepherding and bridge building are their leadership styles of the most of the Christian leaders. Some other styles of Christian leadership are directional, team building, and visionary styles. As a leadership style, entrepreneurial style was the least likely style Christian pastors have. Rearranging, strategizing, visionary and management are some of the very rarely used leadership styles by the Christ ian pastors. An active leader makes things occur, Ministers through formal programmed talks, ministries through words and actions, performs tasks personally and makes decisions unilaterally and individually. On the other hand, a passive leader allots tasks to others, engages and takes part in collective decision making, ministers through personal presence and compassion, preachers via Holy Spirit. Generally, it is very difficult to describe a Christian pastor as an active leader or passive leader because traits of both types of leadership are found in people. In other words, there is no totally passive or active leader, only varying blends of both character traits. The

Gender Discrimination in Korea Essay Example | Topics and Well Written Essays - 2000 words

Gender Discrimination in Korea - Essay Example A United Nations report estimates that between 30 and 50 percent of all households in Africa, the Caribbean, and Latin America depend on a woman as their main provider. In addition, even in the more developed lands, an increasing number of women have had to become the main provider. This notion of gender discrimination is driven by the social development theories that explain the truth behind the existence of the capitalist idealism wherein people are more focused in gaining profit than that of providing respect to the ones that are due of the said recognition. (Peet, 1995) Rural poverty throughout much of the developing world is accelerating this trend. A husband who finds it a constant struggle to feed his family may decide to move to a nearby city or even another country to obtain work. He leaves his wife behind to care for the family. If he is fortunate enough to find a job, he sends paychecks home. But despite his good intentions, this often does not continue (Eiu-young, 1987). But difficult as it is, putting food on the table is not the only challenge women face. Why the sudden change on the role of women being at home Why the sudden direction of seeing women to becoming an epitome of a capitalist society that is better focused on the profits they are to gain than that of the morals that they are better able to establish to set a society that is able to withstand the changes of development that the modern human community itself undergoes at present. Through the theory of global capitalism, the growing difference on the gender status known to the human society and the changes happening to the status of women in connection with the recognition that they are receiving from the people of whom they are dealing with in the society that they are living in. (Peet, 1995) In Korea, this gender discrimination is indeed prevalent in the society. Moreover, this view of women has been strongly advertised through the use of media and continuous social display of discriminating attitudes. In fact, there is an implicit culture in the said country that the beautiful appearance and the physical attractiveness in women are essential stepping-stones for success. This culture really places women as a weaker gender having been able to do nothing without the existence of beauty. It is as if the talents and the considerably fine attributes of women are taken in no regard compared to their beauty. In this regard, the researcher aims to further study the issue on women discrimination existing in Korea through the use of survey. By basing the opinions of the people on how they comprehend on the theme sent out by the movie "Vanity Fair" after having them watch the said film. As said earlier, through this experimentation, the researcher hopes to evaluate the real impact of media in the society with regards to the issue of inequality, thus being able to formulate possible solutions to the said social plague. The Issues The theory of Marxian conception on the material conception of life has been the basic source of understanding used by the researcher of this paper in an aim of creating

An analysis of counselling and counselling skill as a therapeutic Essay - 1

An analysis of counselling and counselling skill as a therapeutic intervention in nursing an amputee patient - Essay Example Counselling skills involve the use of a range of specific skills by the counsellor to help the client. The core of counselling skills includes the skills of listening, reflecting and empathy (Corney, 1995.) There is no universally accepted single definition for counselling skills. Counselling skills differs from listening skills and counselling on the basis of the intentions of the user (Palmer & MacMahon, 1997). The intention is to enhance the performance of their functional role, as nurse, tutor, social worker etc., and in turn, the recipient will, perceive them in that functional role (Palmer & MacMahon, 1997) In other words, it can be said that a person using counselling skills is enhancing communication with someone without assuming a role as their counsellor (Palmer & MacMahon, 1997). The recipient perceives this as an action within a professional/caring role (Palmer S, MacMahon G, 1997) Not every one who uses counselling skills can be called a counsellor. A counsellor uses counselling skills as a distinct profession (Sutton & Stewart, 2002). Others might use counselling skills as part of their other skills. This might be only temporary (Sutton & Stewart, 2002.) There is a difference between counselling, advice, persuasion and undue influence. Advice involves telling a person what to do or not to do. Counselling involves telling a person what is possible, and not what to do (Sutton & Stewart, 2002.) Exerting undue influence or manipulation is done against a persons will, making the person feel uncomfortable or angry. Counselling on the other hand involves exploration of all the alternatives (Sutton & Stewart, 2002.) There is also a difference between counselling and other forms of helping. The primary difference is the way in which the counsellor actively listens. It also involves being aware of the client’s non-verbal communications, body posture, gestures etc. (Sutton & Stewart, 2002.) 1. Interpersonal skills-a competent

Use of Lexical Choices and How They Would Affect the Discursive Power Essay

Use of Lexical Choices and How They Would Affect the Discursive Power of Media - Essay Example People seek to reach their aims and goals by using power. In defining power attention must be paid to the fact that it is not something you can simply possess. It is rather a relationship between people. Power is always related to situations. Using power means having the power to persuade and impress through verbal communication. Pekonen (1991, 46) states that modern politics can be explained as a symbolic power struggle: the winner is a party whose language, words, terms and symbolic expressions are dominant once reality and the context have been defined. (Chilton, P. & Ilyin M. p 4) Presidential speeches are very important to society. According to Denton and Hahn (1986), the presidency is a rhetorical institution. Through speeches, a president leads his country and seeks to persuade the nation and society. Presidential power is the power to persuade. The rhetorical style of a presidential speech can directly affect the political speaker's aims and success. Han (1998) believes that the significance of presidential rhetorical skills has increased over the last 50 years and in part because of the media. This conceals some problems: when the style is emphasized, content may have only a secondary role. The images may be stronger than the message, and credibility may be more important than information. In this study, attention is paid to the (d) Meanings Aristoteles le of presidential power and per-suasion especially from the rhetorical point of view. (Aristoteles) Kress (1990) has introduced theoretical criteria characterizing work in the CDA paradigm which distinguishes it from other politically engaged discourse analysis work. (a) Language is first and foremost a type of social practice. (b) Texts are the result of the actions of socially situated speakers and writers. (c) The relations of the participants in the production of texts are generally unequal. (d) Meanings are the result of the (inter)action of readers and hearers with texts and with the speaker/writers of texts. They are always subject to more or less closely enforced normative rules, and to the relations of power obtaining in this interaction. (e) Linguistic features at any level are the result of social processes. Linguistic features are never arbitrary conjuncts of form and meaning. (f) Linguistic features in their occurrence in texts are always characterized by opacity. (g) Users of language have a particular stance towards the set of codes which make up a language. (h) A system of language is highly problematic in CDA. (i) History has to be taken into account. (j) CDA must be based on rather precise analyses and descriptions of the materiality of language on a close linguistic description. (Kress, p 84) CDA begins from the assumption that systematic asymmetries of power and resources between participants - speakers and listeners, readers and writers - can be linked to their unequal access to linguistic and social resources. The important unit of analysis is the text. Texts are taken to be social uses of spoken and written language. Critical discourse analysis focuses on a genre as well as on sentences and word-level analysis. The study of subject positions may clarify traditional values, ideologies and representations. When analyzing the cultural assumptions expressed in a text, one way to do it is to study the lexical choices or grammatical representations of agency and action.     

Greek Periods of Art Essay Example | Topics and Well Written Essays - 1250 words

Greek Periods of Art - Essay Example The Archaic Greek Period The era assigned to the archaic Greek period of art is 800 to 500 BC. Greek art was very naturalistic in the archaic period. The sculptures created by the artists of that time represented males and females in a somewhat inflexible pose. Artists used to create statues of men and in different poses. Some artists used to create heads of warriors whereas some used to represent their gods in different forms of statues. If we take a closer look at the human sculptures of the archaic period, we come to know that the characteristic archaic smile and the human body’s anatomy are prominent in almost all sculptures. The Archaic phase is best known for the realistic representation of humans and stone sculptures. In the archaic period, the development of the Kouros and Kore statues were the focus of most of the artists. The statues of men represented warriors and gods whether statues of women representing women in the forms of goddesses, nymphs, and the other pries tesses. Standing and seated girls and nude bodies of men and women are some of the most prominent artworks of the archaic period. Artists of the archaic period used to achieve realistic likeliness in picturing the human figure and representing them in the form of abstract figures of the geometric style (Hill). The stiffness, solidity, and gracefulness represent the influence of Egyptian art on the artists of that time. Neutralism was not the expertise of the artists of the archaic period. The artists used to cover their inability to achieve neutralism by giving archaic smile, clenched fists, and outstretched palm style to the sculptures. In all of the three periods of Greek art, which the h include archaic, classical, and Hellenistic periods, there were early, high, and later phases which show the emergence, peak, and ending signs of those periods. The Classical Greek Period The era assigned to the classical Greek period of art is 480 to 323 BC. This era is known as the golden age t hat starts from the time the Athens rose to the prominence and ends with the death of Alexander the Great. Human statues were very heroically proportioned in that age reflecting the Greek humanistic belief in man’s nobility and the desire to look like gods (Esaak). In the classical Greek period, artists were greatly involved in creating human statues of different styles. One thing, which is similar in the archaic period and the classical period, is that the artists from both periods focused on the development of the human statues.

Baptism, Confirmation and Eucharist Essay Example | Topics and Well Written Essays - 1250 words

Baptism, Confirmation and Eucharist - Essay Example The priest may give a short homily to explain about the reading and to remind the parents and godparents of their responsibilities to the child being baptized. Then the priest announces, â€Å"I baptize you in the Name of the Father, and of the Son, and of the Holy Spirit†. These words relate to the words spoken by Jesus Christ before he ascended into heaven when he commanded the disciples to make disciples of all nations and baptize them in the â€Å"Name of the Father, and of the Son, and of the Holy Spirit† (Matthew 28:19). The indelible mark of baptism is the â€Å"end of sin and the beginning of goodness† (â€Å"The Catholic Liturgical Library† par. 27). The Significance of the Sign of the Cross, the use of water, the use of oil, the prayers of exorcism, and the white garment in the celebration of the sacrament of Baptism. The sign of the cross reminds us of Christ’s passion and death on the cross and prepares the baptism candidate to partake o f that sacrifice for God and the church. Water becomes â€Å"a rich symbol of grace,† to signify cleansing and being reborn away from a sinful past (â€Å"The Catholic Liturgical Library† par. 19). Oil is for anointing – to heal us from anything that prevents our right relationship with God. The exorcism prayer protects the baptized from evil spirits while preparing him or her to be a part of the church or the People of God. The priest exorcises the candidate from the evil spirit and prepares that physical body to be a temple of the Holy Spirit.  

Royal Greenland Essay Example for Free

Royal Greenland Essay Royal Greenland is the largest producer of cold water prawns and the market leader of ever expending seafood products. The company belongs to Greenland and catches their primary raw materials and the clear ice cold water from there. The company has its modern part of hunting and fishing culture, which is always existed there and the catches are made with deep respect in Greenland nature and people. Royal Greenland’s clear aim is activities to contribute to the wellbeing Greenland community. Royal Greenland is not just a brand – it’s a promise. No matter what the challenges are, the company depends of committed staff. Royal Greenland has focus on quality and refuses to compromise. In this way Royal Greenland has been a reliable supplier and a trust world partner since 1774. Today is the company still in lead and extended itself as the most innovated and competitive player on the market. Whether if its own brand, as a supplier of private labels or via directed sells to the industry. For more than 230 years has Royal Greenland been associated with the first class seafood. The company’s future plans in investing are to have focus on improving their techniques and products to match the need of their modern consumer. Royal Greenland cooperates with private and public research institutions in order to continue developing their processing, distribution techniques and production. 2. Royal Greenland brand value Applying the Maslow hierarchy of needs, one may argue that Royal Greenland customers seek for self-esteem, recognition and status; they believe that being seen with the Royal Greenland products brand will fulfill these needs. Therefore, the value added to its customers is more intrinsic, being that is a physiological need the act of eating. Royal Greenland Royal Greenland However we may say that Royal Greenland stands in between level 1 and 2 of the Maslow Pyramid and maybe some may argue also between level 3, so that it can be also associated to a kind of luxury level of food and restaurants. Anyway is mainly a physiological need, the customers go for best in the balance of quality facing price. 3. The 4 P’s Products Seafood such as shellfish, natural fish, smoked and marinated fish, prawns. In their webpage they have a catalogue with 162 of different kind variation of the seafood that they offer. As a full-range supplier of seafood products Royal Greenland’s product assortment reflects the company’s ability to meet the need of our consumers and Royal Greenland’s ability to renew ourselves. In Royal Greenland marketing it is in matter; at their products have high quality standards. Royal Greenland is proud to present a broad range of high quality seafood products from their own fisheries and from selected suppliers around the world. They offer the â€Å"highest quality standards† in the world – their global quality team makes sure of that. If there are any complains about the products or about the services, the company takes them serious and they take professional action towards and try to avoid that happening again. Price For centuries, Royal Greenland has been associated with high quality seafood at affordable prices. The company’s product range makes it possible to prepare healthy and tasty meals for any occasion. Royal Greenland, have a price that most customers can afford. Royal Greenland gives the customers the products what they pay for. Place – They owns Production facilities in Canada, Denmark, Germany, Greenland and Poland. The customers can be sure that Royal Greenlands products get delivered o time and in a perfect condition. When dealing with perishable food products and especially frozen goods, it is extremely important to keep temperature constant during transportation and storage. In order to retain the high, natural quality of their products they are checked all the way from production, through storage to the customer by their Quality Control Team. In Denmark the company is distributing in different Danish supermarkets such as Irma and Fotex Promotion They use as promotion mainly their homepage. There the customers can find information about the company, the quality of their products, the way they prepare their products. Even though that the company don’t use any special way to promote themselves, Royal Greenland is the largest producer of cold water prawns and the market leader of ever expending seafood products. 4. Strategic Analysis For in depth analysis, to start with we need to identify the elements which affect the strategic decision; strategic position and strategic choice. The strategic position, where it argues the environmental and stakeholder’s effect on the issue, we identified two elements; economic downturn and new consumer needs. We used the Ansoff matrix to show how Royal Greenland stands concerning Markets and Products as it is shown below. Upon investigation of the company’s reports, one comprehends that both the sales growth rate and profit margin are declining. The company in its mature phase reveals that is the time to look for new segments or new markets. The time seems right for diversification by new product in new markets. 5. IMS (International Market Selection) Analyses The IMS analysis will help us to identify the right market to export. It is based on low psychic distance, low cultural distance and low geographic distance. Our assignment is about Far East countries and Polynesian Islands. We don’t have to argue why it is that, because it’s given. - In their official webpage there is a summary of companies owned or partially owned by the parent company Royal Greenland A/S. There we can see that Royal Greenland is a limited company and 100% of the stock is owned by the Greenlandic Selfrule Government is in Japan. That means that they already have knowledge with the Far East culture, and are ready to export to more Far East countries a brow. Royal Greenland is the biggest seafood company in Denmark. Royal Greenland is a large and complex organization with subsidiaries in a number of countries around the world. Royal Greenland A/S had an annual turnover in 2010/2011 of 4,7 billion DKK and more than 1,800 employees around the world. It has advantage of food  fresh  and  production technology. Royal Greenland has expanded to  many countries and regions on sale. The global economic is downturn, we should keep currently market share and develop the new market. Royal Greenland owns several production facilities located in the immediate vicinity of fisheries and their â€Å"key markets† Greenland, Canada, Denmark, Poland, Germany. We will go along 4 steps. We will describe more detail the general and specific criteria that is mention above. Step 1: In step one, we have the micro level. – Here we make decision which market the product is going to enter. This is about external factors such as PESTEL (politics economic, social, technology, environment and legal). In the first step we analysis IMS (International market selection). We chose New Zealand, China and Philippines. We will mainly look at those three countries political and economic factors. After those first reflections, we can figure out where we want to start. We will reduce from three, to two countries. Then we will make a Pest Analysis and compare them. Criteria – size and economy. Step 2: In step two, we have MECO. We will do our product analysis and market analysis. We will find information about the competitors, and compare our products to the competitors. We will do a competitive analysis. Step 3: Internal analysis. All the internal tickets: are proactive or reactive. Step 4: In step four we actually do segmentation in regards to customers. Demographics – lifestyle, age, gender, buyer behavior, income. New Zealand PESTEL Analysis Political and Environmental Factors: Elizabeth 11 queen of New Zealand has no real political influence and her position is essentially symbolic. Political power is held by the democratically elected Parliament of New Zealand under leadership of Prime Minister, who is the head of government. New Zeland has ranked fifth in the world for political stability in the IMD world competitiveness yearbook 2009. In New Zealand electronics are held every three years so the government has to at time make some compromises with economic growth in order to pursue its political motives. While it may have been acceptable in the past for businesses to pursue profits single minden with a little or no consideration for the wider social and environmental impact of their activities, this is not the case anymore today. The consumer movement and the environmental lobby are now firmly established as vigilant and powerful watchdogs, and have successfully brought changes in business practice and in how businesses must operate. In New Zealand the government announced significant changes to business taxation and the business environment to help develop a more innovative and dynamic economy better able to compete in the global marketplace. Economic Analysis: The Economy of New Zealand is a market economy which is greatly dependent on international trade, mainly with Australia, the European Union, the United States, China and Japan. It has only small manufacturing ad high-tech sectors, being strongly focused on tourism and primary industries like agriculture (though both sectors are highly profitable). Economic tree – market reforms of the last decades have removed many barriers to foreign investment, and the World Bank in 2005 praised New Zealand as being the most business – friendly country in the world, before Singapore. Social Factors: The first release of data from the 2010 New Zealand General Social Survey showed that: New Zealanders have relatively high levels of overall life satisfaction. In the survey, 87 percent of the population reported they were ‘satisfied’ or ‘very satisfied’ with their lives overall. However, satisfaction with life varied across different groups within the population, in particular when looking at people’s labour force status, stage in life, household income, and the type of family they live in. Technological Factors: As a Western country, New Zealand has a proactive, creative and skilled labor. They have the worlds leading educational institutions; a highly educated population with graduate level is increasing. English is the main language of New Zealand. New Zealanders also have excellent quality of soft skills, professional ethics and the spirit of daring to do famous. Technology includes: * processes/systems (operational) * machinery * intellectual property * IT systems. The technology or business skills must be introduced into New Zealand as a result of the investment they must not already be in New Zealand. PEST analysis for China Political Analysis: China is communist country but it is transforming into democratic form of government. The Chinese government has, in the past, strongly controlled such things as prices, markets, products, foreign assets, and personal assets. However, during the past decade, the Chinese government has chosen to open their markets to world investors and to create laws and regulations more in line with the World Trade Center guidelines. This change in philosophy has encouraged foreign investment in China. However, regardless of the recent move towards an open market, the Chinese socialist political environment should remain a key risk factor in any potential expansion. There is only one party in china which is communist party of china. As there is only one party ruling the country so there is stability in the country which is very necessary for business activities. The stability in the country attracts foreign investments in the country. The government also provides different incentives and securities to the new businesses. For example government can declare certain area tax free and thus attracting new investors in the country. The laws are a bit complex for the new investors. But if the new investment Is approved then it will be a successful business. Economic Analysis: Chinas economy is huge and expanding rapidly. In the last 30 years, the rate of Chinese economic growth has been almost miraculous, averaging 8 percent growth in Gross Domestic Product (GDP) per annum. The economy has grown more than 10 times during that period, with Chinese GDP reaching 3. 42 trillion US dollars in 2007. China already has the biggest economy after the United States and most analysts predict China will become the largest economy in the world this century. China is a very good market for the investors to invest and earn profits. Both the industry and agriculture sector provides opportunities to the investors to invest. Inflation rate (consumer prices): The inflation rate in china is 5%. The inflation is very much low and it is in single figure. The prices of commodities are low in china. And this figure is also a controlled one. Central bank discount rate: 2. 79% (December 2009) This is a very good sign for the investors as the financing would be easy and funds can be generated if needed. As the rate is very lower so the expected inflation rate is also low which means that more employment. Social Factors: Chinas spectacular economic growth-averaging 8% or more annually over the past two decades-has produced an impressive increase in the standard of living for hundreds of millions of Chinese citizens. At the same time, this economic development has had severe ramifications for the natural environment. There has been a dramatic increase in the demand for natural resources of all kinds, including water, land and energy. The population growth of china is high and government is taking steps to control this growth of the population. The population growth rate of the country is 0. 94%. The 72. 1% of the population is 15-64 years which is the main target population for the businesses. Technological Factors: The history of science and technology in China is both long and rich with many contributions to science and technology. THE end of cheap China is at hand. Blue-collar labour costs in Guangdong and other coastal hubs have been rising at double-digit rates for a decade. Workers in the hinter land, too, are demanding—and receiving—huge pay increases. China is no longer a place where manufacturers can go to find ultra-cheap hands. Contrary to conventional wisdom, it will not mean that companies close their Chinese factories and stampede to somewhere poorer. China is still a terrific place to make things. Labour may be cheaper elsewhere, but it is only one cost among several. Unlike its lower-paying rivals, China has reasonable infrastructure, sophisticated supply chains and the advantage of scale. When demand surges for a particular product, the biggest firms in China can add thousands of extra workers to a production line in a matter of hours. Environmental Factors: Chinas development and environment practices have made the country one of the worlds leading contributors to regional and global environmental problems, including acid rain, ozone depletion, global climate change, and biodiversity loss. Environmental degradation and pollution in China also pose challenges well beyond those to the natural environment. The ramifications for the social and economic welfare of the Chinese people are substantial. Public health problems, mass migration, forced resettlement, and social unrest are all the consequence of a failure to integrate environmental considerations into development efforts effectively. Sacrificing environmental needs, such as trees, for economic gain. PESTE analysis Philippines Political analysis The Philippines’ diverse population, which speaks more than 80 languages and dialects, is spread over 7,000 islands in the Western Pacific Ocean. The country returned to democracy in 1986 after two decades of autocratic rule. President Benigno Aquino III took office in 2010 with a mandate to address pervasive government corruption. Economic analysis Despite the challenging global economic environment, the Philippine economy has been on a steady path of economic expansion. The government has pursued a series of legislative reforms to enhance the entrepreneurial environment and develop a stronger private sector to generate broader-based job growth. Overall progress has been gradual, but regulatory efficiency has been notably enhanced. The economy has expanded at an average annual rate of close to 5 percent over the past five years. The economy of the Philippines is hampered by huge foreign debt, a low savings rate, inefficient tax collection, inadequate infrastructure , especially outside major cities, and poor agricultural performance. The Philippine economy is vulnerable to oil-price increases, interest-rate shifts by the U. S. Federal Reserve, and the performance of international stock exchanges. Social Factors: Social factors that have a negative impact on the economy include a high crime rate, especially kidnappings and rape, pockets of Communist rebels in rural areas, threats from Muslim separatist movements, high rates of poverty and unemployment, and the governments inability to begin its land-distribution program. Environmental factors also damage economic development, including frequent typhoons and drought. Worker productivity is adversely affected by illnesses brought on by air and water pollution. In metropolitan Manila alone, the effect of pollution on health and labor productivity has been estimated to be equal to a loss of about 1 percent of gross national product annually. Technological Factors: In todays fast paced world, the need to operate globally and without boundaries has increased the abilities and expectations for technology. Information technology, being the theme on everyones mind throughout the last decades is still reaching new levels. The new and tremendous dvancements in telecommunication technology in the new millennium were the milestone for the outsourcing of service activities that were about to penetrate the Philippines. The country has a lot of highly skilled IT people and the IT infrastructure and supports are very advanced. Therefore, the technology allows products and services to be made significantly cheaper than in domestic markets, and yet maintain at lea st the same quality. The employees are working at wages approximately 400% smaller than in Europe but the final results they deliver are hard to distinguish from the European ones. The cheap costs also give the possibility to be more flexible and take risks because there is not much to lose. It is easy foreigners who did not really have beliefs or big plans for their businesses but they thought it would be fun to run a company without seriously endangering your budget. Environment Factors: The Philippines is prone to natural disasters, particularly typhoons, floods, landslides, volcanic eruptions, earthquakes, and tsunamis, lying as it does astride the typhoon belt, in the active volcanic region known as the â€Å"Pacific Ring of Fire,† and in the geologically unstable region between the Pacific and Eurasian tectonic plates. The Philippines also suffers major human-caused environmental degradation aggravated by a high annual population growth rate, including loss of agricultural lands, deforestation, soil erosion, air and water pollution, improper disposal of solid and toxic wastes, loss of coral reefs, mismanagement and abuse of coastal resources, and overfishing. According to Greenpeace SouthEast Asia, the Philippines major historical river, the Pasig River is now biologically dead due to negligence and industrialization. Currently, the Philippines Department of Environment and Natural Resources has been busy tracking down illegal loggers and been spearheading projects to preserve the quality of many remaining rivers that are not yet polluted. Conclusion: By using the PESTEL framework we analyzed the many different factors in a firms macro environment. In some cases particular issues may fit in several categories. The PESTEL Factors in China appears in several categories, we simply make a decision of where we think it best belongs. We think that to export in China will have the greatest impact. We have made a SWOT analysis, which proves that China would be the best market to export in. 6. SWOT Analyses SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses/Limitations, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective. So concerning our previous explanations and answers to themes in analyses, we came up with the following SWOT analyses: 7. Business Law Contract for the International Sales of Goods (CISG): CISG stands for contract of sale of goods, the convention applies when the buyer and seller have their place of business in different states and when the parties are from contracting states . As Royal Greenland Company is going to sell its product to China from Denmark. At the same time, China is approved to apply CISG, but Denmark is not agreed with the CISG Law. So there are two conditions: ?Royal Greenland company (seller)—the buyer in China: If the two parties did not agree about which law is to apply, then the rule of seller? s country shall apply. So in this situation, the rule of the Denmark should apply, as the Danish law mentions that the CISG takes precedence in international sales. So if the Royal Greenland Company is seller and the buyer is in China, then the CISG should be applied. ?Royal Greenland company (buyer)—the suppliers in China: It is also about the sales of goods, the rule of seller? s country shall apply, and as the China is not approved the CISG. So the law from the China shall be applied if the Royal Greenland is buyer and the supplier is from China. Performance is the fulfillment of a promise in the contract. Many issues can arise in a sales contract after the contract is made and before a partys performance is required. Sometimes performance may be made impracticable. If the goods are completely destroyed before the risk of loss has passed to the oversea buyer, and the goods have not been destroyed through the fault of either party, Royal Greenland may be excused from performing. Risk of loss is responsibility for any damage or destruction of goods; the parties may decide in the contract when the risk of loss of the goods passes from Royal Greenland to the buyer. If the goods are only partially destroyed or have deteriorated, the buyer may demand to inspect the goods and either void the contract or accept the goods with a reduction in the contract price. Royal Greenland may avoid performing only if the destroyed goods were specifically identified when the sale was made. There are two situations in which a party must make a substituted performance in case the agreed method of performance becomes impracticable. First, when the goods cannot be transported by the agreed-upon method of transportation, Royal Greenland must use available transportation that is a commercially reasonable substitute. Second, if an agreed-upon method of payment fails, the buyer must use a commercially reasonable substitute method of payment if one is available. If a party fails to substitute transportation or payment, she could be liable to the other party for losses resulting from the failure. In some cases the purpose of a sale may be frustrated by circunstances beyond the control of both buyer and seller. At times it may appear to a party that the other party will be unable to perform by the expected date. For example, assume that a party agrees to sell goods on credit. If the buyer becomes financially insolvent before the goods are delivered, the seller may demand cash before delivering the goods. If the goods are in transit, the seller may instruct the carrier to withhold delivery of the goods. A party is considered insolvent if she cannot pay debts as they come due, has ceased to pay debts, or has liabilities that exceed assets. If a party has reasonable grounds to feel insecure about the other partys ability to perform, the insecure party may demand assurances before performing. Alternatively, if the other party gives the assurance, the concerned party must follow through on his obligations. Precisely what constitutes an effective assurance is a question of fact that depends on the nature of the goods, the size of the contract, the length of time until performance, and similar considerations. In any case a concerned party may not make commercially unreasonable demands on a party prior to performance and then withhold performance if the other party does not meet the demands. Delivery We think that there are two-clause suit for the Royal Greenland Company, one is F-clause, and the other is C-clause. ?F-clauses FOB (free on board). In this situation, the Royal Greenland must load the products on board the designed by the buyer in the China. The goods are delivered when they have been handed over to the first carrier designed by the buyer. The advantage of this rule is the transportation fees and the risk is shared by the Royal Greenland and the buyer in the China. FAS (free alongside Ship). In this situation, the Royal Greenland must deliver the goods to the specified spot; the goods and risk are delivered when they are placed alongside the ship. The advantage of this is that the seller don? t need to take the goods to the board. ?C-clauses CIF (cost insurance and freight). In the situation, the seller shall pay for marine insurance and costs all the way to the place of destination, the risk passed when goods are on board the ship in the dispatch port. For example, we deliver the products (named of) to China and we pay all the insurance and transportation fee until the products arrive to the place of destination, The advantage of this rule is although the Royal Greenland pay all the transportation fees and insurance fees but they have the lowest risk, if they got any damages during the transport the insurance company will pay all the losses. Seller? obligations (CISG) and Buyer? s obligations (CISG) ?The seller must: 1, Deliver the goods 2, Handover documents 3, Transfer rights of ownership of goods to the buyer The seller must deliver the right goods quantity and quantity at right place and at the time agreed in contract. And hand over the document that is necessary. Transfer rights of ownership of goods to the buyer, such as risk. There are many conditions: some risk is passed to buyer when the goods are hand over to the first independent carrier. Some risk passes to buyer when buyer at the time of receipt of the goods at the seller? s place of business. When the risk passes to buyer, it is depend on the which kind of transportation way that the seller and buyer choose. ?The buyer shall to take delivery of goods and pay the payment that has been agreed at the agreed time and place. Buyer? s remedies in the event of the seller? s breach of contract (CISG) There are also some remedies in the event of each parties breach the contract. First of all, we list several breaches from the seller, and remedies for the breach. When the sell breach a contract in case: 1. Delay 2. Defect 3. Defective title. The buyer can choose to: 1. Affirm 2. Cancel 3. And claim damages if a loss has been incurred. The buyer can also demand corrective performance, at the same time the seller has a right to correct also after the goods have been delivered. Seller? s remedies in the event of the buyer? s breach of contract (CISG) When the buyer breach a contract in case: 1. Not paying for the goods 2. Not taking delivery of the goods. In such cases happen, the seller has the rights to: 1. Affirm 2. Cancel 3. Claim damages. Conclusion It is benefit for the Royal Greenland Company to put then in a good position if they are similar with the CISG and doing the international sale with China. 8. Economics As attachment in appendix there is the study on investment table as well as the net-cash flow diagram. Anyway below is our conclusion: 9. Conclusion Royal Greenland A/S (Royal Greenland) is a Denmark based company operating in the provision of seafood products. It is one of the worlds biggest producers of coldwater shrimps and a market leader in a wide range of seafood products. The company, along with its subsidiaries is engaged in fishing, processing, production, marketing and distribution of seafood products. The core products of the company include prawn and shellfish products, fillet products, ready to eat products and smoked products. The company operates through a number of production sites across Greenland, Denmark, Germany and Poland, and sales offices in Europe, the US and Japan. Royal Greenland is headquartered at Nuuk in Denmark. Export to restaurants. In our assignment we decided after making an PESTEL analysis in 3 different countries from Far East, to export in China. Beside that we chose to export in the restaurant market. The reason why we chose to export in restaurants is, that restaurant is the largest segment of the profit foodservice sector in China, accounting for 94% of the sectors total value. The pubs, nightclubs and bars segment accounts for a further 1. 2% of the sector Market analysis. The Chinese profit foodservice sector displayed double digit growth over the 2007 to 2011 period. The sector is forecast to post healthy growth during the period up to 2016. In comparison, the Japanese sector will decline with a compound annual rate of change (CARC) of -0. 8%, and the Indian sector will increase with a CAGR of 17. 4%, over the same period, to reach respective values of $102. 8 billion and $58. 1 billion in 2011. Sector consumption volumes are forecast to increase with a CAGR of 3. % between 2007-2011, to reach a total of 115. 6 billion visits in 2011. The sectors volume is expected to rise to 133. 1 billion visits by the end of 2016, representing a CAGR of 2. 9% for the 2011-2016 period. The restaurants segment is expected to be the sectors most lucrative in 2011, with total revenue of $135. 5 billion, equivalent to 94% of the sectors overall value. The pubs, nightclubs and bars segment will contribute revenue of $1. 7 billion in 2011, equating to 1. 2% of the sectors aggregate value. Market value forecast In 2016, the Chinese profit foodservice sector is forecast to have a value of $236,162. 1 million, an increase of 63. 8% since 2011. Buyer power in the profit foodservice sector in China Buyers in the global profit foodservice sector are individual consumers, which are large in number but hold very little financial muscle independently. High transaction volumes mean that the impact of any one customer on revenues is usually small. The exception here can be in the case of premium-price, non-chain restaurants, whose business model relies on low-volume, high-margin sales. This lack of financial muscle minimizes the power of buyers, although they benefit from the lack of costs incurred by switching from one profit foodservice player to another. Profit foodservice is not strictly essential to consumers: they can backwards integrate by cooking their own food. Profit foodservice players have invested heavily in brand-building, especially in the low- and medium- price segments. The Uppsala model has described the internationalization of a firm as a process of experiential learning and incremental commitments which leads to an evolutionary development in a foreign market. Royal Greenland Export Royal Greenland A/S sales subsidiaries have been established on the most important markets i. e. in Denmark, France, Germany, Italy, Japan, Sweden, the UK and the USA. The southern part of Asia is yet another potential sales subsidiary location. However, no matter where a subsidiary is placed, company policy dictates that it be managed by local staff to ensure the greatest insight into each countrys market, and dietary and cultural traditions a policy which has proven very rewarding. The Export Division sells about 65,000 t of high-quality products from a constantly expanding product range to 40 main markets all over the world. The divisions product development department ensures that customer demands concerning products and lines are made in consultation with Royal Greenland. Delivery reliability is equally ensured and realised through close collaboration with the Divisions colleagues in Greenland. Royal Greenland Development Royal Greenland Development was established in 1995 to offer its know-how and expertise to Third World fishery development projects. The divisions role is to participate in research fishing aimed at establishing what resources are at hand and to assist with product development and production. Further assistance in the form of raw materials and sales facilities may also be offered by the Division, which works in collaboration with internationally recognized aid organizations. Contracts have already been drawn up in India and Vietnam and business prospects are promising in China, Southeast Asia, Africa and South America. 11. Reference List Global Marketing – A Decision-Oriented Approach Fifth Edition, Svend Hollensen Business and Danish Law Book ttp://www. royalgreenland. com http://www. royalgreenland. com http://www. slideshare. net http://www. stats. govt. nz http://www. linz. govt. nz http://www. economywatch. com http://www. economist. com http://www. cfr. org http://www. heritage. org http://www. nationsencyclopedia. com http://en. wikipedia. org http://www. articlesbase. com [ 1 ]. The countries that are in Far East are: China, Hong Kong, Macau, Japan, Mongolia, North and South Korea, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Papua New Guinea, Philippines, Singapore, Thailand, Vietnam, Russia. Geographically, the Polynesian Triangle is drawn by connecting the points of Hawaii, New Zealand and Easter Island. The other main island groups located within the Polynesian Triangle are Samoa, Tonga, the Cook Islands, Tuvalu, Tokelau, Niue, Wallis and Futuna and French Polynesia. [ 2 ]. - (http://www. royalgreenland. com/uk/Our-company/Organisation/Ownership-and-Asso ciated-Companies. aspx ) [ 3 ]. http://www. royalgreenland. com/uk/Our-company/Facts-Figures. aspx [ 4 ]. http://www. royalgreenland. om/uk/Fishery-and-processing/Production-facilities. aspx [ 5 ]. http://www. slideshare. net/Nokhov/new-zealand-presentation-847054 [ 6 ]. http://www. slideshare. net/Nokhov/new-zealand-presentation-847054 [ 7 ]. http://www. stats. govt. nz/browse_for_stats/people_and_communities/Families/nz-general-social-survey-info-releases. aspx [ 8 ]. http://www. linz. govt. nz/overseas-investment/applications/technical-resources/benefit-nz-factors/new-technology [ 9 ]. http://www. economywatch. com/ world_economy/china/? page=full [ 10 ]. http://www. economist. om/node/21549938 [ 11 ]. http://www. cfr. org/china/chinas-environmental-challenge-political-social-economic-implications/p5573 [ 12 ]. http://www. heritage. org/index/country/philippines [ 13 ]. http://www. heritage. org/index/country/philippines [ 14 ]. http://www. nationsencyclopedia. com/economies/Asia-and-the-Pacific/Philippines-OVERVIEW-OF-ECONOMY. html#ixzz2AIfp1mkg [ 15 ]. http://www. articlesbase. com/outsourcing-articles/technological-factors-in-the-philippines-4035972. html [ 16 ]. http://en. wikipedia. org/wiki/Environment_of_the_Philippines

Public and Private Companies in Malaysia

Public and Private Companies in Malaysia The number of private going to public listed company is the common ways to practice in Malaysia. In contrary, public listed companies going private has increased sharply in recent years like the mushroom after raining release onto the business world. This adjustment is formed by the Stock Exchange of Malaysia, Bursa Malaysia. In the beginning of 2007, there has offer a series of privatisation of public listed companies on our local bourse, Bursa Malaysia. The trend of privatisation of public listed companies in the Bursa Malaysia has raised more than 20 privatisations since 2007 (source: Announcements from Bursa Malaysia). The establishment of the Stock Exchange of Malaysia in 1964 had given a new perspective in the Malaysian economic landscape. This institute will help in quick expansion of its longer term capital growth and enhancing global competitive. Since its formation, the Stock Exchange of Malaysia, Bursa Malaysia, has over 1,000 listed companies provide a wide range opportunity of investment choices to local and foreign investors include retail and institutional level, merchant banks and unit trust companies. Bursa Malaysia (formerly known as Kuala Lumpur Stock Exchange, KLSE) has currently more than 982 public listed companies (as at 17 September 2008) with a total market capitalization in excess of RM930 billion. It is one of the largest Stock Exchange in South East Asia, No. 1 in terms of listed companies, and No. 2 in terms of market capitalization after Singapore. The privatisation continued through 2008 with 21 privatisation proposals on the Bursa Malaysia. According to OSK Research Head Chris Eng comments that the wind of privatisation was expected to be strong next year in view of the low valuation of stocks, although earnings may contract but price-to-earnings ratio is still low. This demonstrates that the privatization will carried out efficiency in the view of the researcher excluded the global financial crisis. Jupiter Securities head of research Pong Teng Siew said the privatisation trend was unlikely to insist during the global financial crisis. The privatisation issue will outcome in the view of global credit crunch. The global credit crunch can reduce funds available to local and foreign investor. An example for proposed plan to privatise in AirAsia had illustrates core issue to privatisation, which is the funding source. However, this will cause the AirAsia stay at the security position. AirAsias major shareholder Tune Air Sdn Bhd, leadership by the groups chief executive Datuk Seri Tony Fernandes, had announce to put on hold its plan to privatise and delist the counter from the local stock exchange due to the difficulties in securing funding. The privatise position will affect their funds and share easily acquirer by outsider owned sufficient capital. Other factors that may fuel privatization include businesses that were fairly stable where there was no need to raise cash via equity, which in turn made the requirements of a listing such as the need to hold AGMs and issue annual reports. Such requirements on listed companies had leave the companies with little breathing space, less liberty and make it difficult for companies to make major the decisions such as expanding overseas, acquiring new businesses or obtaining new shareholders without losing precious time in these pursuits. By going private, the companys major shareholders are able to focus on taking bigger strategic risks in order to enjoy long-term profits without facing intense scrutiny of public shareholders and being constrained by the need to consider how a proposed transaction might influence the quarterly earnings or the volatility of the share price of the company. Kenanga Investment Bank Head of Corporate Finance Debbie Leong agrees. She said other than cheap valuation; other motivating factors included the cost of maintaining the listing status. She said the same goes for companies too that were not bring benefit from having a listing status, such as the inability to tap the capital market for funds due to lack of visibility to investors, low analyst coverage, or the mere fact that the companies were too small to gain attention from institutional shareholders. In the view of point, Analysts from anonymous said privatisation also played a significant role in continuous bringing stock prices closer to their intrinsic values (actual cost of the company). Privatisations are likely to involve small to mid-cap companies going forward, as the quantum involves in completing the privatisation would be smaller (less than RM100 million) and thus more manageable when it comes to funding in view of the current global credit crunch. OSK Research head Chris Eng said it believe that there is an increasing privatisation trend among small, family-owned public-listed companies especially identified where cash per share is higher than the share price. Bursa Malaysiaà ¢Ã¢â€š ¬Ã… ¸s Kuala Lumpur Composite Index had tumbled to 876.40 points on December 19, 2008, a 73% drop from its peak of 1,516.22 on January 2008. It is worth noting that the price-to-earnings ratio of the Kuala Lumpur Composite Index had also dipped to 10.10 times as of the week ended December 19, 2008 from a high of 16.84 times as of the week ended January 11, 2008. Its lowest price-earnings-ratio for the year was 9.31 times for the week ended October 24, 2008. There are more than a total 86 new listings for the past 3 years from the year of 2006 until 2008, whereby there were 40 new listings in the year of 2006, 28 new listings in the year of 2007 and 18 new listings in the year of 2008 (as at 17 September 2008) on the Bursa Malaysia. Total money raised from the public listing exercise and other corporate exercise was RM 4.1 billon in 2006 and RM 16.8 billion in the year of 2007 (source: from Bursa Malaysiaà ¢Ã¢â€š ¬Ã… ¸s 2007 Annual Report). Some RM46.29 billion has been wiped out from Bursa Malaysiaà ¢Ã¢â€š ¬Ã… ¸s market capitalisation in the first half of the year of 2007, as 17 companies were taken private, a stock exchange official said. In contrast, the stock market added RM3.74 billion in market capitalisation from the listing of 16 companies in the same period. Global leveraged buyout volume for the first six months of the year 2007 was estimated at US$450 billion (RM1.56 trillion), more than double the whole of last year of 2006. The privatization of these companies signals a very mature and robust financial market, with a favourable credit market. The cycle of privatisation will turn when interest rate goes up and companies find it more expensive to raise funds from the credit market. Selvarany Rasiah, Chief Regulatory Officer of Bursa Malaysia (Business Times Malaysia 20 June 2007). (Source: Business Times 22 September 2008) Privatisations are common done with reasons; the owner is motivated to do so when the share price does not reflect its fundamental value. Expectations are high that the rate of privatisation may pick up by the third quarter of 2009, once the global credit situation has eased and there is more clarity. Interestingly, PricewaterhouseCoopers Advisory Sdn Bhd, Senior Executive Director Tan Siow Ming says private equity firms may feature more prominently as an alternative source of financing for the privatisation exercises. Three factors, he says, may whet the appetite of private equity players in the public to private deals. Firstly, they have a considerable amount of investible funds in their coffers; secondly they are able to leverage at reasonable cost given the current credit crunch; and thirdly, it may fit strategically with their overall investment strategy. The economy report made by shahriman johari, rupa damodaran ,chong pooi koon had said Malaysias economy growth is expected to increase between 2 per cent and 3 per cent in 2010 which supported by private investment and consumption. (Source: Business Times Saturday OCT 24, 2009) THE government plans to privatise selected government agencies and give customised incentives to attract fresh investments from the private sector. This forms part of the governments plan to develop a new economic model based on high income, which will be the focus in the 10th Malaysia Plan (10MP). It did not select which agencies will be privatised, but this will recognized as the second wave of privatisation. The government has work out their effort to improve the financial sector to facilitate efficient intermediation. Then, it can measure to enhance access, cut transaction costs and promote stock broking and fundraising activities. Small and medium enterprises (SMEs) wont be left out. There are incentives to help them modernize and sustain their operations. In addition, the numerous grants and loan schemes will be rationalised to improve access and effectiveness (Source: Business Times Saturday OCT 24, 2009). Obviously, the privatisation exist MA transactions in Malaysia. The main regulations governing MA transactions in Malaysia include the Companies Act 1965, the Capital Market Services Act 2007 (à ¢Ã¢â€š ¬Ã… ¾CMSAà ¢Ã¢â€š ¬Ã… ¸), the Guidelines provided for the Acquisition of Assets, the Malaysian Code on Takeovers and Mergers 1998 (à ¢Ã¢â€š ¬Ã… ¾Take-over Codeà ¢Ã¢â€š ¬Ã… ¸), Mergers and Takeovers issued by the Foreign Investment Committee (à ¢Ã¢â€š ¬Ã… ¾FIC Guidelinesà ¢Ã¢â€š ¬Ã… ¸) and the Listing Requirements of the Bursa Malaysia Securities Berhad (à ¢Ã¢â€š ¬Ã… ¾Bursa Malaysiaà ¢Ã¢â€š ¬Ã… ¸) for public listed companies. Section 216 of the CMSA and the Companies Act 1965 govern MA transactions that involve the sale or purchase of substantial assets by a public company while Section 217 of the CMSA and the Take-over Code regulate MA transactions that involves the acquisition of voting shares which results in a change of control in a company. These regulations are put in pla ce to protect the interests of shareholders and to ensure that all take-overs and mergers take place in a competitive, informed and efficient market. Also, the laws and regulations are to ensure all shareholders of a company involved in a take-over and merger situation receive fair and equal treatment. Public listed companies in the Bursa Malaysia are adjustment become private encourage whole acquisition offer to the shareholders of the public listed company. The conduct of the take-over schemes are regulated by the Securities Commission and are subject to the Malaysian Code on Take-Overs and Mergers 1998. The general offer trigger is 33% where: (i) In order to an acquisition of 33% of voting shares by a person in addition with persons acting in concert with them (acquirer), or when (ii) The acquirer had already holds more than 33% but less than 50%, hold 2% within a period of 6 (six) months from the date of acquisition would require that such a mandatory offer be made. Once the level of acceptance has achieved 50% of more, the offer becomes unconditional. Some acquirer exposure in a condition for a takeover of other property such that it must have at least 50% of the shares in a voluntary takeover scheme, failing which the acceptance will be the rate of return to shareholders. Once the acceptance of the takeover breaches the 75% level, the listed company breaches the public shareholding spread requirement under the Listing Requirements of the Bursa Malaysia. The public listed company which drop short of the 25% spread requirement may request for an extension of time from Bursa Malaysia to rectify the situation. The company could be suspended or delisted unless the listed company finds means of increasing the public spread to at least 25% again if no extension of time is granted by Bursa Malaysia (Source: Bursa Malaysia Listing Requirements and Securities Commission Malaysian Code on Take-Overs 1988). The most common methods of privatization observed on our Bursa Malaysia are as follows:- 1. Direct offer A voluntary general offer can be made for the rest of the shares not owned by the owner or related parties acting in concert. 2. Via a new company or special purpose vehicle company The owner can use a new company or incorporate a special purpose vehicle company to acquire all his shares and the rest of shares owned by the other shareholders. 3. Acquire the business In order to avoid rejection by some minority shareholders, more and more owners are using this method, i.e. seeking shareholdersà ¢Ã¢â€š ¬Ã… ¸ approval to sell the entire business and thereafter distribute the cash proceeds back to shareholders. The end effect is the same as cash offer for the shares. 1.2 Objectives of the Study Based on the gains sharing issue highlighted above, this study carries out an analysis on the numbers of publicly traded companies in Malaysia that had participated in going private transactions in 2007. Moreover, there have been myriads studies concerned on the motive and/or reasons for mergers and acquisitions mostly in the United States, United Kingdom and Europe, but very few motives and/or reasons have been addressed for public listed companies going private. The number of public listed companies going private has increased sharply in recent years like the mushroom after raining especially in Malaysia, as part of widespread corporate restructuring. Privatisation is the reverse of a public listing exercise. However, little evidence has been provided to prove for similar applications in the Malaysian capital market. This paper aims to fill the gap and contribute to existing literature. The objective of this study is to determine the following:- 1. What is the motive for a public listed company to go private? 2. How is the price earnings ratio and price to book valuation of a public listed company in relation to companies being taken private? 3. How emphasis is given to the offer price that has been offered by these companies to their public shareholders and with this the study strives to achieve the objectives? The following objectives below are; i) To measure the fairness of the offer price offered to the minority shareholders by comparing the share price derived by the discounted cash flow valuation with the offer price offered by the companies when the transaction took place; and ii) To assess whether the gain sharing proposition established in previous literatures can be generalized in Malaysia financial market as what observed in the in the country such as the U.S., the UK and other European countries. 1.3 Scope of the Study This study will cover all public listed companies listed on the Bursa Malaysia which is being taken private in 2007. It will examine the motives and/or reasons for public listed companies in Malaysia going private. Recognizing the need to protect the minority shareholders interest in Malaysia, especially in the exercises that are undertaken by the publicly held company that have a significant impact on public shareholders, this study aims to contribute to this effort by focusing on going private transactions. 1.4 Purpose and Significance of the Study There have been numerous studies concerned the motive and/or reasons for mergers and acquisitions, but very few motives and/or reasons have been addresses for public listed companies going private. The number of public listed companies going private has increased sharply in recent years especially in Malaysia, as part of widespread corporate restructuring and/or mergers and acquisitions. Furthermore, this study will cover and overview all public listed companies listed on the Bursa Malaysia which is being taken private in 2007 which is recognize as privatisation that reverse from public listing exercise. The objective of this study is to examine why this new trend emerges and what causes it to happen. 1.5 Limitations of the Study The privatisation of Malaysiaà ¢Ã¢â€š ¬Ã… ¸s public listed companies was relatively new phenomena that started in 2006 and implement in 2007 throughout 2008, a relatively short period of study as compared to studies of privatisation of public listed companies in UK from 1997 to 2003 by (Renneboog, Simons and Wright 2005). Thus, the scope of the study is limited to Malaysiaà ¢Ã¢â€š ¬Ã… ¸s public listed companies in the Bursa Malaysia going private in the year of 2007. There is lack of information for Malaysia due to the new trend or phenomena. 1.6 Organization of the Study The paper is divided into five (5) chapters. The first chapter of this research describes the driving factors that led to this study. It highlights the background, objectives, scope of the study as well as the significance of the study. Chapter two (2) of this study will cover the literature review and to provide evidence which found from the previous studies on various reasons behind public listed companies going private. It will be used to support discussion and findings from the data analysis. Development of hypotheses, selection of measures, sampling design, data collection procedure and analysis are outlined in Chapter three (3). Chapter four (4) draws some research result of this study and conclusion and recommendations will be presented in Chapter five (5). CHAPTER 2 LITERATURE REVIEW Before us deeply into the public listed companies to go private. Understanding that why did the companies decided to become a public listed company is very imperative. Roell (1996) documents five reasons why owners of firms decided to go public.

Image And Impression Management

Image And Impression Management This sections aims to uncover and analyze past researches that had been done by other researchers on related topics of image and impression management. This chapter, will provide the theoretical foundation for this research. First, the historical background of impression management will be discussed. Second, the definition and scope of impression management will be examined. Review should contain critical evaluation and discussion of other related research. Image management A growing body of research indicates that we engage in image management in various social situations. Most research has focused on image management in face-to-face situations, particularly as it pertains to career success and performance appraisal. Previous studies have focused on how personality traits and certain situational factors affect image management (Boline Turley, 2002, p. 141). Image management can be defined as: a process by which individuals present information about themselves to appear as they wish others to see them (Kacmar et al., 2007, p. 16). Erving Goffman, who studied human interaction, first introduced the idea of impression management. Goffman described the social world as deceptive. In The Presentation of Self and Everyday Life (1959), Goffman describes human social interaction as a theatrical performance, meaning that people act as performers to give off certain impressions in certain social situations (Manning, 2009 p. 8). Therefore, we intentionally mislead people in efforts to give off a certain impression that we feel will benefit us within a specific social situation. Goffman uses the term fabrication to describe the way an individual misleads others (Manning, 2009, p. 9). Through fabrications, we frame ourselves to be who we want to be. Image management is also defined as the process by which people attempt to influence the images that others have of them (Rosenfeld, Giacalone Riordan, 1995). Regardless of the specific context in which it is used, the general goal of image management is to create a particular impression in others minds (Leary Kowalski, 1990; Rosenfeld et al., 1995). According to several theorists (Schlenker, 1980; McFarland, 2005) image management can be both conscious and unconscious. As Leary and Kowalski (1990) acknowledge as well, at one extreme people are unaware of others reactions to them, while on the other extreme people are conscious about the aspects of themselves that others can observe, such as their appearance and behaviour. Since image management behaviour can be learned, habitually and unconsciously, humans engage in impression management behaviour without considering what they are actually doing. With reference to Jones and Pittman (1982), people should be cautious in using image management tactics since one carries the risk that it will be perceived negatively; for every desired image, there is a corresponding undesired image at risk. For instance, an individual using self-promotion would like to be seen as competent, though he risks to be perceived as arrogant instead. In addition, image management research has mostly concentrate on purposive behaviour like verbal, non-verbal, and artificial behaviours that influence the images that other people have of the person. (Schneider, 1981). However, people often exercise image management behaviour without considering their own behaviour. In such instances, image management tactics become over learned habits. As Schlenker (1980) concludes, a great deal of image management behaviour appears to be non-purposive since it occurs automatically without conscious thought or control. Regarding purposive behaviours, Jones and Pittman (1980) have identified ingratiation, self-promotion, intimidation, exemplification, and supplication as image management. In todays world it is very important to understand who is playing which role, how one should act, and why other people are doing what they are doing. We project our image in very different manners: what we do, how we do it, what we say, how we say it, the arrangement of our offices, and our physical appearance, such as clothes and make-up as well as facial expressions. All these behaviors in some way help us define who we are (Rosenfeld et al., 1995, p.4). They form an identity and express what we want and expect from other people around us. These social identities constitute how individuals are defined and regarded in social interaction (Schlenker, 1980, p.69). The general definition used by scholars is that image management is the process through which individuals attempt to influence the impressions other people form of them (Gardner, 1992). Individuals manage their impressions when they wish to present a favorable image of themselves to others (Jones Pittman, 1982). Ways in which individuals manage their impressions can vary from verbal statements to their physical appearance or by using non-verbal gestures and expressions. Some theorists like Schlenker (1980) and Schneider (1981) make a distinction between the terms image management and self-presentation, even though most literature uses these terms interchangeably. Schlenker (1980) classifies image management as the attempt to control images that are projected in real or imagined social interactions while self-presentation is applied to situations in which the created impression is self-relevant (Schlenker, 1980, p.6). Schneider (1981) claims that self-presentation can be seen as a close cousin of image management, but still is dissimilar: Image can be managed by means other than self-presentation, and presentations may be used for goals other than image management (Schneider, 1981, p.25). Schneider (1981) mentions that image of an individual can also be controlled by a third party. Several theorists propose that self-presentation not only attempts to influence the images that others form, but also has an influence on the impression the person has about himself (Greenwald Breckler, 1985; Hogan, Jones Cheek, 1985; Schlenker, 1985). This in fact can be regarded as self-presentation to the self (Leary et al., 1990), as people are motivated to preserve particular beliefs about themselves (Greenwald Breckler, 1985). Overall, image management can be seen as a broader and more encompassing term than self-presentation (Leary et al., 1990). Impression Management Goffmans impression management work has developed and continuous to be a popular research topic addressing studies of identity and social interaction. Many impression management studies use the theory of self-monitoring to measure how anindividual works to achieve a desirable self-image. Self-monitoring can be described as an internal state combining self-observation and self-control (Scher et al., 2007, p. 186). Self-monitoring is an internal process in which a person tries to control the impressions they give off to others as a means of self-presentation (Scher et al., 2007, p. 187). In trying to give off certain impressions of ones self, a person controls their behaviors to ensure that they are socially appropriate. Lennox (1984) describes two sources of information that a person uses to assess how to act: ones personal disposition and situational cues (p. 199). Some people, known as low self-monitors, rely more on their inner states and feelings in assessing the appropriateness o f their behavior while others, known as high self-monitors, tend to respond to their social environments cues when deciding how to behave appropriately (Lennox, 1984, p. 199). High self-monitors adapt their behaviors to specific social situations. They look at the way others are behaving in the immediate social scene for cues on how they should behave. On the contrary, low self-monitors use their internal factors their attitudes, opinions, beliefs, and dispositions as cues on how they should behave in certain situations. Therefore, they are less affected by situational factors than high self-monitors. Their behaviors are more reflective of their personality (Lennox, 1984, p. 199). Studies have shown that high self-monitors are more likely to conform than low self-monitors and show more inconsistency between their behaviors and attitudes (Scher et al., 2007, p. 187). It is thought that high self-monitors are more concerned with what others think of them than low self-monitors, maki ng them more likely to conform in social situations (Sher et al., 2007, p. 190). Studies show that high self-monitors are more concerned with what others think and are more likely than low self-monitors to achieve desired images while avoiding undesired ones (Turnley Bolino, 2001, p. 251). They are skillful in controlling their self-image and often use impression management tactics. Jones and Pittman (1982) came up with a list of impression management tactics (Turnley Bolino, 2001, p. 352). These includes: à ¢Ã¢â€š ¬Ã‚ ¢ Ingratiation using flattery in efforts to get others to view you favorably à ¢Ã¢â€š ¬Ã‚ ¢ Self Promotion displaying your successes and skills in efforts to appear competent à ¢Ã¢â€š ¬Ã‚ ¢ Exemplification striving to be seen as dedicated by exerting yourself to the fullest à ¢Ã¢â€š ¬Ã‚ ¢ Supplication displaying your needs and shortcoming in efforts to appear needy à ¢Ã¢â€š ¬Ã‚ ¢ Intimidation striving to be seen as threatening or dangerous by intimidating others Turnley and Bolinos study (2001) found that high self-monitors would more frequently achieve the desired image of likeable when using ingratiation, competent when using self promotion and dedicated when using exemplification than low self-monitors (Turnley Bolino, p. 353). A similar study done by Bolino Turnley (2003) found evidence that high self-monitors prefer to use positive impression management tactics (ingratiation, self promotion and exemplification) to negative tactics (supplication and intimidation) (p. 141). This same study also suggests that individuals who engage in positive impression management tactics are seen by others as more favorable than those who use all types of impression management tactics (Bolino Turnley, 2003, p. 141). This study asserts that women are less aggressive in using impression management tactics than men and therefore, are more likely to engage in positive tactics rather than negative ones (Bolino Turnley, 2003, p. 141). Bolino Turnley suggest that this may be because women follow the less aggressive tactics of the female gender role, which discourages aggressive or assertive behavior (Bolino Turnley, 2003, p. 148). Therefore, men are more active and aggressive in managing their impressions while women are mor e likely to do so passively (Bolino Turnley, 2003, p. 148). Siibaks study used the self-discrepancy theory to explain the reasons behind managing ones social media image. This theory asserts that individuals have three self-domains: The Actual Self an individuals representation of the attributes that he or she believes he/she possesses The Ideal Self an individuals representation of the attributes that someone (yourself or another person) wants you to possess The Ought Self and individuals representation of the attributes that someone (yourself or another person) believes you should possess (Higgins, 1987, p. 319) The Ought Self comes into play in impression management. Individuals seek to represent the Ought Self by emphasizing the attributes they believe a person ought to possess in a certain social situation. Many studies have focused on the Cultivation Theory as it pertains to self-image and distorted body image problems. Most of these studies look at television and magazines and their role in making females believe ideal beauty means excessive thinness. This study is more focused on exploring whether image management affects womens perceptions of ideal beauty. A study done on college women using print advertisements found that making social comparisons to ultra-thin models is significantly associated with greater internalization of the thin ideal and decreased satisfaction with ones own appearance (Engeln Maddox, 2005, p. 1114). This study uses a sociocultural model that describes body image problems and disordered eating as a result of the continued exposure to thin images. This prolonged exposure reinforces the Western ideal of thinness being attractive (Engeln-Maddox, 2005, p. 1115). A similar study was done on the effects of fashion magazines on body dissatisfaction and disordered eating among females. This study also connects the medias promotion of the thin ideal to body distortion issues that remain at the center of anorexia and bulimia (Shaw, 1995, p. 15). It compared adolescents and adults and their responses to thin images present in magazines (Shaw, 1995, p. 20). Age, BMI and greater bulimic tendencies were positively correlated with greater responsiveness to images of thin models among adolescents (Shaw, 1995, p. 20). The adults, although still responsive to the thin ideal, were less responsive than adolescents (Shaw, 1995, p. 21). This is thought to be in part because adults, unlike adolescents, are not in a developmental stage in which they are concerned with collecting personal identity information (Shaw, 1995, p. 21). Shaw (2005) uses Social Identity Theory, which states that ones social identity is positively related to the degree of social attractiveness conferred by their membership of a particular social group to describe why females have greater body dissatisfaction after being exposed to ultra-thin magazine models (p. 21). Shaw also explains that our culture provides cues that teach females at an early age that they are judged by their physical beauty (p. 21). Therefore, females work to conform to the ideal images of beauty that our society has spelled out for them. If they are not able to conform to this ideal image of beauty, they may experience body dissatisfaction, which may lead to disordered eating habits. One study looked at the role of the peer environment and its ability to provide a subculture that emphasizes the importance of thinness throughà ¢Ã¢â€š ¬Ã‚ ¦ peer pressure to diet and be thin and teasing from peers about weight and shape (Gerner Wilson, 2005, p. 313). Female adolescents believe being thin is connected to a better popularity standing among friends and increases the perception of being dateable (Gerner Wilson, 2005, p. 314). This is linked to disordered dieting, poor self-image evaluations, and bulimia (Gerner Wilson, 2005, pg. 314). This study also suggests girls friendships with males, more than females, are closely tied to how they feel about their bodies, reflecting a sociocultural emphasis on the importance of physical attractiveness for successful relationships with males (Gerner Wilson, 2005, p. 318). 2.2.1 Historical review on Impression management A distinction will be made between before and after the 1980s. The idea that people actively manage their image that others form of them has existed for centuries, but it was in the early 1900s that social philosophers incorporated these ideas into their thinking. It was only during the 1980s that the topic of image management started to become widely accepted as an element of organizational life and communications. 2.2.1 Impression management before the 1980s The concept of image and impression management relates back to prehistoric and primitive people who also were concerned about self-presentation. Cosmetics, clothing, jewelry and other aids to physical attractiveness were universally used to present positive identities to others (Tedeschi, 1981, p.xv). The idea that people project identities to one another and form identities from the reactions of others to them, has existed for a long period of time, yet it has not been until this century that social philosophers have incorporated this interactive process into their thinking (Cooley, 1902; Mead, 1934) 2.2.2 Impression management after the 1980s Prior to the 1980s generally social psychologists regarded impression management as a peripheral concept. It was rarely regarded as a fundamental interpersonal process on its own (Schlenker Weigold, 1992, p.135) . In the second half of the 1980s interest for impression management started to increase and the concept of impression management became more important. In 1989 two books were published by Giacalone and Rosenfeld about impression management in organizations. These two books served as source books for what is nowadays the distinctive field of organizational impression management (Rosenfeld et al., 1995). Impression management in organizations consists of strategic communications designed to establish, maintain, or protect desired identities (Rosenfeld et al., 1995). Since the 1980s impression management has been studied in organizational contexts such as leader-member exchange, job interviews and performance appraisal. The study of impression management in organizations is of great importance (Bozeman Kacmar, 1997, p.9). As popularity among researchers and practitioners grew it also started to be viewed as a mainstream rather than a peripheral concept. It is difficult to understand how impression management could have been overlooked in many theoretical discussions. Incorporating impression management into current research and practice is started to provide a better understanding of how organizational processes were to a large extent affected by individuals concerns over how they were being perceived by others (Rosenfeld et al., 1995). Most social psychological investigations have focused on intentional behaviors that decorate or modify ongoing behavior. Impression management is assumed to become more intentional and focused when people believe that they will gain valued outcomes by encouraging certain impressions in others (Schlenker Weigold, 1992). Since the 80s analysts have applied and studied the concept of impression management to a wide range of social phenomena, such as attitude change, nonverbal behavior, social anxiety and recently also to concepts such as eating behavior, organizational behavior. While in specifics being different, the analyses share in common the idea that people attempt to control information for one or more salient audiences in ways that try to facilitate goal-achievement (Schlenker Weigold, 1992, p.136). The concept of impression, specifically in the field of organizational life, has received much more importance than ever before. Impression management is a commonly occurring part of organizational life and it is seen as essential to effective organizational communication (Rosenfeld et al., 1995). In the next section a look will be taken at the motives people have to engage or use impression management. 2.3 Motives to engage in impression management Being skilled in the process of impression management is becoming more significant for managers and it is especially true in work settings with high pressure and where quick decisions need to be made in a dynamic environment. Individuals who are not aware of this aspect of organizational life run the risk of performing poorly, or even being moved to lower positions in the organization (Gardner, 1992). The statement and explanation given above by Gardner might in some way explain why people would attempt to use impression management at work with their colleagues. Yet in general people wish to be perceived as intelligent, friendly and morally good (Rosenfeld, GiacaloneTedeschi, 1983, p.60). This explanation is given for the question of why people laugh more often at humorous stimuli when others are present than when they are own their own, the answer being to establish an identity of oneself as a friendly person. People engage in impression management for many reasons that are influenced by social, personal and situational factors. Some theorists describe the process as a quick cost-benefit analysis (Schlenker, 1980). At the same time people are assessing the benefits that might be achieved by presenting one image rather then another one, they are also considering the costs of presenting that particular image (Rosenfeld et al.,1995). Some situations in which impression management is less likely to occur were described by Jones and Pittman (1980). Under conditions of high task involvement, where the individual becomes absorbed in the task itself. In another research on the use of impression management in assessment centers it was mentioned that the process of impression management required much of an individuals cognitive resources and so it could interfere with effective performance of the individual (McFarland, Ryan, Kriska, 2003). Other situations mentioned by Jones and Pittman (1980) are purely expressive behaviors such as anger and joy and situations in which the person is most of all concerned with presenting his/her true self, such as therapy sessions (Gardner Martinko, 1988). Next to situational factors also social and personal factors influence the motives of individuals to engage in impression management. Leary and Kowalski (1990) believed that impression management could be used to increase personal well-being in three interrelated goals. First of all by maximizing ones reward-cost ratio in social relations. As mentioned earlier, self-presentation also allows individuals to optimize their benefit-cost ratio when dealing with others (Schlenker, 1980). Being able to form a good impression will increase the probability of a desired outcome, be it a interpersonal one such as friendship or power or be it material such as raise in salary due to being seen as more competent (Leary Kowalski, 1990, p.37). The second goal that Leary and Kowalski (1990) mention is enhancing ones self esteem. People might employ in impression management, to regulate their self-esteem in a two-fold manner. One reason was that reactions that other individuals have will positively (compliments) or negatively (criticism) affect your self-esteem. So individuals will act in a manner to be able to inflate their self-esteem by trying to receive positive feedback (Leary Kowalski, 1990, p.37). A second reason is that the self esteem of individuals is also influenced by the self-evaluation of their performances and the feedback that you as an individuals will expect to receive from others (Leary Kowalski, 1990). The third and final goal proposed by Leary and Kowalski (1990) is facilitating the development of desired identities. According to Cooley (1902) and Mead (1934) our identity is in the end derived from society, and individuals sometimes engage in certain behaviors to indicate the ownership of such identity-relevant characteristics (Leary Kowalski, 1990). People may even engage in impression management activities as protection if they feel there is a threat to their social image. As can be seen above there are several motives for people to engage in impression managing. Aside of situational and social factors there are also some personality traits that will affect the degree of impression management being used. For example the extent to which an individual possess the trait of machiavellianism might have an impact on the degree of impression management being used. In todays world it is defined as one who employs aggressive, manipulative, exploiting and devious moves in order to achie ve personal and organizational objectives (Calhoon, 1969, p. 241). From this definition it seems obvious to conclude that the higher the score for machiavellianism the more likely the individual will engage in impression management to achieve personal objectives. A second and final trait that can be decisive for the degree in which an individual engages in impression management is self-monitoring. Individuals differ in the way they monitor their self-presentation and expressive behavior (Snyder, 1974, p.536). Individuals with high levels of self-monitoring can effectively use this skill to create impressions they want. Furthermore these individuals are also better at purposely communicating and expressing emotion in verbal and non verbal manners (Snyder, 1974). Before reaching the overall conclusion of this chapter it can be said that indeed personality as well as social and situational factors play a clear role and deciding what individual will or will not use impression management in certain situations. 2.4 Conclusion In this chapter an in depth look was taken at the historical background of impression management and it can be said that since the mid 80s the topic has increasingly received attention from social psychologists and the awareness of its importance is also dramatically increasing in organizational life. Furthermore a look was taken at the several definitions of the concept by different researchers. The definition that will be employed throughout this paper will be the process through which individuals attempt to influence the impressions other people form of them. In the final part of this chapter the several factors that might affect the motives of individuals to engage in impression management where studied. It was found that several situational, social and personality factors affect an individuals decision to employ impression management. In the next chapter a look will be taken at the choice of the type of impression management style or tactic that and individuals will choose.