Business Financing Whiz Bang Corporation

Questions: Discuss about the Business Financing Whiz Bang Corporation. Answers: Introduction Every organization survives in the dynamic world only because of three factors which are people, plant and profit. The three plays major role in the success of every organization. People consist of human resources who are employed in organization, plant consists of the movable and immovable assets of the organization and profit is the earnings made by the company. In this report, the focus is on the assets of the organization. The aim of this report is to analyze the need of replacement of an asset, to analyze the project with various capital budgeting techniques and to finalize the way through which the asset shall be financed with help of the concept of cost of capital in weighted average terms. The body of the report has been divided into three sections first one deal with the capital acquisitions, second deals with the appraisal of the project and third deals with the project financing. The report is then ended with the conclusion containing the summary of the report and finding s and interpretations thereon. In the last, the recommendation has been given phase wise. It has been followed by the proper list of references and appendices containing the calculations. Capital Acquisitions Before making any decision, the decision maker should have requisite information and explanations along with the documentary evidences so that an effective and efficient decision can be taken. Assets are regarded as back bone of every organization without which it cannot work. In any business organization, every kind of asset needs replacement after the passage of time and replacement will always bring and economic benefit to the economy. Replacement may occur due to expiration of the estimated life of an asset or due to sudden failure of an asset. In order to replace an asset, the approval shall come from the top management and that too after the proper appraisal of the information regarding the reasons for replacing the asset. In the current scenario, the equipment has been worn out and has crossed the estimated useful life. It means that though the equipment may be technically efficient but it requires so much maintenance cost and running cost that will exceed the salvage value of the equipment. Secondly, the value as of now will be equivalent to value at the completion of the estimated life after the maintenance (GFOA, 2010), (AASB, 116) Therefore, before proceeding to have replacement of the equipment, due and proper care shall be taken. The following informations are required by the management for appraising the action for replacement of an asset: Purchase cost of an asset and the value as on date as per books of accounts Present Condition of an asset Remaining Estimated useful life of an asset as at current date Reasons for replacing an asset. Estimated Maintenance Cost which is required to be incurred in case the same asset is to be kept Estimated Running cost of an asset which is required to be incurred in case the same asset is to be kept Estimated Scrap value of an asset Cost - benefit analysis of replacement decision. Estimated useful life of new asset. Cost of new asset and quotations from at least three vendors (DHPW,2012), (University of Tolado, 2002). The above informations are very necessary for replacement decision as without the availability of these no decision can be taken. There are various reasons for obtaining the information. At the first, the carrying amount as on date must be known to the decision maker along with the remaining useful life and it is then compared with the salvage value of an asset. Secondly, the cost of maintenance and running an asset must be worked out and compare the same with future cash flows to calculate present value if the current asset is retained (Sondillane M). Thirdly, the detail of new asset to be acquired is very essential. The details must be obtained from different vendors as to the cost and other technical; specifications and then proper analysis shall be made. If it is observed that the asset if continued will incur an expensive maintenance and running cost in comparison with the salvage value and the present value of future cash inflows, then its better to replace the asset. The approval will come from the top management along with the funds to purchase the asset. Project Proposal This scenario deals with the appraisal of the new project with the use of capital budgeting techniques. Capital Budgeting deals with the process of planning the expenditure which is to be incurred on the project in such a manner that the selected project out of the various available projects will be the best one which will maximize benefits for long term. This decision means the decision to be made by top management to whether to invest in a particular long term projects or not. These projects may include purchase of huge plant and machinery, purchase of turnkey project or manufacturing an item on their own instead of purchasing from outside. The finance manager of every organization is personnel who are responsible for assisting the management in making the decision for taking up the project. While evaluating the project, he uses various techniques which are known as capital budgeting techniques. It includes Payback period, Net Present Value and others. These methods are described a s follows: Payback period method: It denotes the number of years within which the organization will be able to recover the initial cost that has been incurred by it at the time of acquisition of the project. It is expressed in years and months. At the payback period, the inflows will be equal to the outflows. It means payback period method defines the time at which the organization may be able to cover the investment originally made. If there are two projects and one has to be selected, then the decision will automatically go in favor of the project which has short payback period. Its because shorter the period higher will be the long term benefits the organization will have. Net Present Value Objective of every firm is to have more wealth. Wealth comes from the net earnings and net earnings are the difference between inflows and outflows of firm relating to the project. It helps in arriving at the net earnings by discounting the future cash inflows and deducting the cash outflow from therein. If the difference comes as positive, the proposal is accepted otherwise rejected (Illes, 2012), (Juhasz L). The discounting rate is cost of capital of firm. Internal Rate of Return It is the return at which initial cost of proposal is equal to the present value of the future cash inflows. In other words, it is the rate at which the Net Present value is zero (Edward,2010). Thus, it is regarded as the cut - off rate at which the project or investment may be accepted. If it is higher than the cost of capital, then the proposal is accepted otherwise rejected (Juhasz L). In the given scenario, one project has been identified for the company which will have life of ten years and an initial cost of $60,00,000. The aforementioned three techniques have been adopted to judge the feasibility of the proposal. The calculation is given in Annexure 1. As per the calculation, Net present Value of the Project is $ 1,98,420 /- Internal rate of return is 12.80% Payback period is 9.77 years. As per the decision criteria of Net present Value, it is positive of $1,98,420 /- therefore the project may be accepted. As per the decision criteria of Internal Rate of Return, it is of 12.80 % which is more than the cost of capital of 12% and thus the project may be accepted. As per the decision criteria of payback period, that project shall be selected where the investment may be recovered at an early point of time. In the given case, the project has estimated useful life of ten years and the payback period is only 9.77 years which indicates that the project will not be able to recover its investment in its initial phase and thus on the basis of the payback period method the project may not be accepted. The aforesaid methods have their own advantages and disadvantages. Payback period Though the payback period method is very simple and easy to understand and adopt, gives the potential or prospective investors an idea of time period within which they will able to get their investment but it contains many demerits. One of the major demerits is that the method assumes the case of liquidity rather than profitability. Its because it considers the cash inflows only during the specified period and not after that. Secondly it completely ignores the concept of going concern. Thirdly, it lacks the measurement of percentage return on the investment made. Net Present Value It is considered as the best measure to evaluate the project. It has many advantages over other methods like the method considers the time value of money, it helps in selecting the best proposal out of the available proposals, assumes that the cash flows represent the shareholders wealth and it provides the figure of the net benefits arising out of the available proposals over its span of life. But it has one major disadvantage that the method does not provide the actual results where the projects under consideration have different estimated life of project (Blas 2006), (Damodran). Internal Rate of Return It is the second method which counts the time value of money and takes into account all the cash inflows and cash outflows. But on the other hand it is complex to calculate and provides the multiple rates which leads to confusion to the finance manager. Thus, as per the figures of the aforesaid three parameters, the project is feasible and it is recommended that the organization shall approve the proposal. Apart from the above financial parameters, there are some non financial parameters. These include Technological advancement, estimated useful life and estimation of the demand of the product in future which will generate out of that project. Technological advancement refers to the status of the technology of machinery or plant under proposal. It should be at the level which denotes that the organization can cope up with the changing environment and will be able to generate the economic benefits in future. If it is found after proper testing that the equipment under proposal is technologically advanced then the proposal is accepted. Secondly, useful life of an asset to be replaced with shall be estimated with due care as the asset is considered as long term benefit source and if the accurate estimation has not been made then the project may not be accepted. Lastly, the estimate of the future demand of the product shall be made with the help of marketing expert and other professionals. It is because if the demand in the future is decreased by any percentage then it will affect the whole analysis made by the finance manager using the capital budgeting techniques. Thus, in view of the above discussion, it is recommended to accept the proposal and take the project. Its necessary to look after the non financial matters also. Therefore, as per the capital budgeting techniques and other discussion, the proposal shall be accepted in full. Project Financing WACC is the companys cost in percentage terms to borrow the money from different sources of finance (Giddy). The finance may be raised by issuing equity shares, by issuing debentures, by raising loans from banks or other financial institutions, by raising loans from relatives or friends as unsecured loan and by having loans in the form of bank bills or bank overdraft being short term loan. All these sources carry cost of financing which the borrower needs to repay at periodical intervals. Some requires their payments on monthly basis; some requires it on quarterly basis, some requires it on semi annually or some on annual basis. The cost of financing carries the other component with it which is known as tax rate. Tax rate is the rate at which any corporate needs to pay the tax to the government treasury. For calculating it, after tax cost of debt is considered. Equity Cost does not carries tax rate because of the fact that the fund has been raised by issuing equity shares of the comp any to their shareholders. The formula for calculating cost of each source of finance is different whether it may be equity or any form of debenture (Pareja 2009), (Lee), (Sabesp 2011). In the given case of Whiz Bang Corporation Limited, there are three sources of finance under debt namely debentures, bank bills and bank overdraft. Calculations of Weighted Average Cost of Capital are given in Annexure II. Debenture carries a fixed annual rate of 12% and its cost works out as 9.80%, Bank bills carries yield of 10% and its cost is 7% and Bank Overdraft carries yield of 11% and its cost is 7.70%. All these sources are in the ratio or 3:2:1 respectively. The Weighted average cost of debt as calculated is 4.26% and of equity is 3.07%. Thus the total WACC as calculated sum of both is 7.33%. In the given case, it is the better method for evaluating the project. It is because, all the relevant data which includes weight of each source of finance and all items for calculation of its cost has been given for calculating the weighted average cost of capital and there are two sources debt and equity and overall cost of capital can be obtained only with the help of the weighted average cost of capital. Along with the advantages there is one major hurdle in adopting this method is that the ratio of capital structure of the company cannot be maintained as it is for the future years. In the given case the debt equity ratio has been defined 1:1 and the three components of debt is in the ration on 1:2:3. In the real world it cannot remain the same, it will change in accordance with the changing external or internal environment of the company. Second restriction is that it is difficult to obtain the present cost of capital from the market as the cost changes daily. Third major restriction is that the method assumes that the new project will have the same risk as assigned to earlier projects. Due to this most of the times company ends up with the project by accepting bad projects and rejecting the new projects. Although, the method have disadvantages, but in the given case weighted average cost of capital is accepted. Conclusion Whiz Bang Corporation Limited has undergone three phases wherein the capital acquisition has been reviewed, project proposal has been evaluated and weighted average cost of capital has been calculated. The first one has dealt with the replacement of an asset in which all the areas have been covered as to which information is required by the finance manager to go for replacement and reason thereon. In the second phase, project has been appraised by the use of Capital budgeting methods including NPV, Payback period and IRR and on the basis of results decision whether to accept the project or not has been recommended. In the third phase, financing of project has been made. In this the WACC has been found and the restrictions in using this method in the given case have been discussed. In order to conclude the report, the analysis in each of the three phases has been made in detail with proper calculations and discussions. Recommendetion In each of the three phases, different recommendations have been made. In the first phase dealing with the replacement of assets, requisite information has been mentioned so as to evaluate whether the replacement is actual in need and the amount of funds to be released for replacement. It is recommended to have more information before proceeding to release of funds. In the second phase, project has been appraised and it is recommended to accept the project as the same has positive NPV and higher IRR. In third phase, relevancy of WACC in the given case has been detailed and it is recommended that the company has adopted correct method in order to arrive at total cost of the capital. Thus, except at first phase, the recommendation has been made positive without any requirement of further details. References Illes M., 2012, Links between Net Present Value and Shareholder Value from a Business Economic Perspective, Retrieved from https://www.academia.edu/3628065/Links_Between_Net_Present_Value_and_Shareholder_Value_from_a_Business_Economics_Perspective accessed on 23-12-2016. Edwards G, 2010, Comparing NPV and IRR, Retrieved from https://www.brighthubpm.com/project-planning/95800-comparing-npv-and-irr/ accessed on 23-12-2016. GFOA, 2010, Asset maintenance and Replacement, Retrieved from https://www.gfoa.org/asset -maintenance-and-replacement accessed on 23/12/2016, AASB, 2010, Property, Plant and Equipment, Retrieved from https://www.aasb.gov.au/admin/file/content102/c3/AASB116_07-04_ERDRjun10_07-09.pdf accessed on 24/12/2016. DHPW, 2012, A Guide for Asset and Finance Managers retrieved from https://www.hpw.qld.gov.au/SiteCollectionDocuments/MMFPanCapExpense.pdf accessed on 24/12/2016. Bonnville Power Administration (BPA), Repair versus Replace, retrieved from https://www.bpa.gov/Finance/FinancialPublicProcesses/CapitalInvestmentReview/cirdocuments/Agency_Overview_Repair-vs-Replace.pdf accessed on 24/12/2016. Sondillane M, Is your annual production plant maintenance cost running at more than 3% of your replacement asset value, Retrieved from https://www.lifetime-reliability.com/cms/free-articles/enterprise-asset-management/asset-replacement-value/ accessed on 24/12/2016. University of Tolado, 2002, Replacement Analysis, Retrieved from https://cset.sp.utoledo.edu/~nkissoff/lessons/Lesson14.html accessed on 24/12/2016. Blas B, 2006, Net Present Value, Retrieved from https://www.uam.es/personal_pdi/economicas/bdeblas/teaching/ucd/ecn134/lectures/slides1.pdf accessed on 24/12/2016 Damodran A, Present Value, Retrieved from https://people.stern.nyu.edu/adamodar/pdfiles/cf2E/tools.pdf accessed on 24/12/2016. Juhasz L 2011, Net Present Value versus Internal rate of Return, Retrieved from https://www.economics-sociology.eu/files/05%5B8%5D.pdf accessed on 24/12/2016 Cristodoulou A 1996, The Internal Rate of Return Problems and Manners of Solution, Retrievedfrom https://www.iamb.it/share/img_new_medit_articoli/802_32cristodoulou.pdf accessed on 24/12/2016. Giddy I, The Weighted Average Cost of Capital, Retrieved from https://pages.stern.nyu.edu/~igiddy/articles/wacc_tutorial.pdf accessed on 24/12/2016. Pareja I 2009, A Note on the Weighted Average Cost of Capital, Retrieved from https://pruss.narod.ru/WACC.pdf accessed on 24/12/2016 Lee S, Weighted Average Cost of Capital, Retrieved from https://www.hkiaat.org/images/uploads/articles/Weighted.pdf accessed on 24/12/2016. Sabesp 2011, Weighted Average Cost of Capital,. Retrieved from https://www.sabesp.com.br/sabesp/filesmng.nsf/C96F08ACA72B899C8325787700559FE5/$File/WACC_sabesp_contribution.pdf accessed on 24/12/2016

Yellow Essay Example For Students

Yellow Essay In the last half of the nineteenth century, Victorian ideals still held sway in American society, at least among members of the middle and upper classes. Thus the cult of True Womanhood was still promoted which preached four cardinal virtues for women: piety, purity, submissiveness, and domesticity. Women were considered far more religious than men and, therefore, they had to be pure in heart, mind, and, of course, body, not engaging in sex until marriage, and even then not finding any pleasure in it. They were also supposed to be passive responders to mens decisions, actions, and needs. The true womans place was her home; females were uniquely suited to raise children,care for the needs of their menfolk, and devote their lives to creating a nurturing home environment. (Norton, 108). However, the tensions between old and new, traditional and untraditional , were great during the last years of nineteenth century and there was a debate among male and female writers and social thinkers as to what the role of women should be. Among the female writers who devoted their work to defying their views about the womans place in society were Charlotte Perkins Gilman and Kate Chopin. Charlotte Perkins Gilman (1860-1935) was a social activist and theorist of the womens movement at the turn of the twentieth century. She developed her feminist ideals in her novels, short stories and nonfiction books such as Women and Economics. Charlotte Perkins Gilman is best known for her short story The Yellow Wallpaper, (1892) which is based on her own experience. As the story begins, the woman-whose name we never learn- tells of her depression and how it is being treated by her husband and brother who are both doctors. These two men are unable to see that there is more to her condition than just a stress and depression and prescribe for her rest as a cure. The narrator is taken to a summer house to recover form her condition where she is not allowed to do anything but rest and sleep. Furt hermore, she cannot do one thing that she loves the most: writing. I must put this away, -he hates to have me write a word. She spends most of her time in a room with yellow wallpaper and very little to occupy her mind with. She becomes obsessed with discovering what is behind the pattern of the wallpaper and becomes determined that the image is a woman who is struggling to become free. The narrator wants to set this woman free, so she peels off the yellow wallpaper. Then she locks herself in the room and throws the keys out of the window. When her husband gets to the door and wants to break in, she tells him over and over again where the keys are. After he gets in and sees her creeping on the floor, he faints, and the narrator had to creep over him every time.Though The Yellow Wallpaper is a fiction, it was based on Gilmans own experience after being diagnosed as a hysteric and prescribed a rest cure which prohibited her writing. However, The Yellow Wallpaper is more than a case s tudy in mental illness or a horror story, it is a story of a dominant/submissive relationship between husband and wife. John, the narrators husband, never takes her seriously. At the very beginning of the story she says John laughs at me, of course, but one expects that in marriage. Anytime the narrator would make a suggestion for her recovery, John would give her a stern reproachful look. Although the narrator feels desperate, John tells her that there is no reason for how she feels. He treats her like a child and makes her doubt herself. John is the man of the house and he expects the narrator to trust him completely, just as small children trust in their parents. The narrator often speaks in a manner that suggests that she cannot disagree with anything her husband says. She is a typical nineteenth century submissive wife and her What is one to do? means that she has no authority and no control over her life. The idea of resting is not something she likes, she would rather work, but she has no choice. Still, she manages to disobey her husband and write her journal without him knowing it. There are many other evidences of dominant-submissive relationship, and one of the most convincing is when John says, I beg of you, for my sake and our childs sake, as well as for your own By placing himself and the baby first he is unintentionally saying that she is not important enough. The main cause of the narrators mental condition is her overbearing husband who stifles her emotional and imaginative impulses and forces her to concentrate on the objects that surround her. Furthermore, this inactivity pushes her deeper into madness. John imprisons her in a room that has no escape with bars on the windows and immovable bed which is nailed down. But the narrator is not just a prison of this room, she is a prison of her marriage. Her developing insanity is a form of rebellion and a way to gain her own independence. Her struggle to set the woman in the wallpaper free symbo lized her fight for independence. Kate Chopins The Awakening (1899) carried out the same theme of struggling woman in a dominant/ submissive relationship. However, Kate Chopin was different from Gilman because she never joined or supported organizations though which women fought to gain political, economic, and social rights equal to those of men. At the same time they both felt that relationships founded on economic dependence and household duties had to be reconsidered. Kate Chopin and Charlotte Perkins Gilman had very different views on womens sexuality. Gilman spoke out strongly against eroticism in womens life while Kate Chopin concentrated mainly on the biological aspects of womens situation and was the first writer in her country to accept passion as a legitimate subject for serious, outspoken fiction. ( Per Seyerted, 198)The Awakening tells the story of a middle class woman, Edna Pontellier, who lives in New Orleans. She is married to a man she no longer loves and she looks for excitement and passion that they dont have in their relationship. She falls in love with a young man, Robert Lebrun, but he goes to Mexico when he discovers that his feelings toward Edna are very strong. During their separation Edna becomes involved with another man even though she doesnt love him. After Robert Lebrun comes back from Mexico, he meets Edna and admits to her that he loves her, but their happiness doesnt last long. Edna leaves to see her friend, Adele, and when she comes home, there is a note that is left by Robert Lebrun that says, I love you. Good-by- because I love you. Edna decides to take a swim and she never returns. .ubb0c0889a45309bcdac1cb31a8b9304e , .ubb0c0889a45309bcdac1cb31a8b9304e .postImageUrl , .ubb0c0889a45309bcdac1cb31a8b9304e .centered-text-area { min-height: 80px; position: relative; } .ubb0c0889a45309bcdac1cb31a8b9304e , .ubb0c0889a45309bcdac1cb31a8b9304e:hover , .ubb0c0889a45309bcdac1cb31a8b9304e:visited , .ubb0c0889a45309bcdac1cb31a8b9304e:active { border:0!important; } .ubb0c0889a45309bcdac1cb31a8b9304e .clearfix:after { content: ""; display: table; clear: both; } .ubb0c0889a45309bcdac1cb31a8b9304e { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ubb0c0889a45309bcdac1cb31a8b9304e:active , .ubb0c0889a45309bcdac1cb31a8b9304e:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ubb0c0889a45309bcdac1cb31a8b9304e .centered-text-area { width: 100%; position: relative ; } .ubb0c0889a45309bcdac1cb31a8b9304e .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ubb0c0889a45309bcdac1cb31a8b9304e .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ubb0c0889a45309bcdac1cb31a8b9304e .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ubb0c0889a45309bcdac1cb31a8b9304e:hover .ctaButton { background-color: #34495E!important; } .ubb0c0889a45309bcdac1cb31a8b9304e .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ubb0c0889a45309bcdac1cb31a8b9304e .ubb0c0889a45309bcdac1cb31a8b9304e-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ubb0c0889a45309bcdac1cb31a8b9304e:after { content: ""; display: block; clear: both; } READ: Essay About Rock Music We will write a custom essay on Yellow specifically for you for only $16.38 $13.9/page Order now Edna, as the narrator in The Yellow Wallpaper, isnt satisfied with her marriage which is based on dominant/ submissive relationship. Her husband, Mr. Pontellier, doesnt treat Edna as human being , rather he treats her like one of his possessions paying just enough attention to make sure Edna is physically well and does everything that is expected from her. Mr. Pontellier lives for his business, social respect, and a decent family. As soon as he sees Ednas behavior changing, he seeks advice of a doctor. He is concerned about the fact that Edna lets the housekeeping go to the dickens and about her some sort of notion in her head concerning the eternal rights of women.While Edna seeks romance as a source of happiness, she experiments with art, and as she awakens personally, she develops a deeper commitment to it. Art plays a very important role in the life on the narrator in The Yellow Wallpaper too. For Kate Chopin and Charlotte Perkins Gilman, art is work because it is both difficult labor and ones true vocation, the idea that wasnt very common among nineteenth century women. Adele plays piano to enrich lives of her family and to beautify her home; she sees music a supplement to family life. Edna and the narrator in The Yellow Wallpaper were not able to succeed in art because of the limitations of family life. Ednas dependency disturbed her from her work, although she isnt prohibited from doing what she likes, while the narrator in The Yellow Wallpaper is told to keep away from writing by her loving husband. Kate Chopin and Charlotte Perkins Gilman held different views on motherhood. The narrator of The Yellow Wallpaper doesnt talk a lot about her baby, but every time she does, she speaks of her baby with love, Theres one comfort, the baby is well and happy, and doesnt have to occupy this nursery with this horrid wall-paper. Charlotte Perkins Gilman sees motherhood to be essential for womens lives. Edna, on the other hand, understands that her role of a mother a lso makes impossible her continuing development as an autonomous individual.(Dyer, 27) Edna fears motherhood, perhaps because this is the role she cannot change. The nineteenth centurys message of the importance of motherhood was so extremely strong and intense that it couldnt be entirely opposed even by women like Edna who valued their independence more than family life. Still, Edna refused to live for her children rather than for herself. Ednas friend Adele is perfect in her role of mother, she is an example of mother woman. It isnt a coincidence that last pages of the books final chapter are dominated with the issue of motherhood. When Edna parts from Robert to go to Adele when she gives birth, Edna still believes that she has control over her own destiny. But seeing Adeles agony reminded her about her duties toward her children as their mother and she realizes that her dreams about her independence can never come true. This realization that comes along with loosing the man she loves forces her to take her life because she understands that there is no way for a mother to be truly independent. The Roberts note makes her understand not just that he is scared of having an affair in public, but that he would never be able to accept her urge for independence and equality. Female passion was thought to be immoral and unhealthy by Charlotte Perkins Gilman and other proponents of realism and feminism in the last decade of the nineteenth century. The color yellow in The Yellow Wallpaper has been interpreted as t he narrators sexual repression, her sexual fear, her disgust of sexuality (Knight, 13).According to Denise D. Knight in her A Study of the Short Fiction, in the original manuscript of The Yellow Wallpaper, there was a sentence that described this color as a sickly penetrating suggestive yellow, that points out the fear that narrator feels toward sexuality. (p. 12) Kate Chopin in The Awakening suggested that guilt shouldnt accompany sex even if it isnt sex in marriage. She didnt judge Edna as a fallen woman, moreover, it seems like Chopins view of sex was that sexual growth of a woman didnt end with her marriage. To us, modern readers, sexual descriptions in The Awakening may seem hardly explicit, however, contemporary readers would have founds them inappropriate. However, Ednas awakening to her own sexuality can bring only partial fulfillment because Edna comes to understanding that female biology can also enslave and she thus takes her life because she needs sexual and spiritual freedom, but acknowledges a duty toward her children. Charlotte Perkins Gilman suggested that women in dependent relationships are always removed from their physical environment( Dyer, 55) Could it be that Edna and the narrator of The Yellow Wallpaper responded to the environment that surrounded them because they started doubting their own place in the dependent/ submissive relationship? Excessive physicality of Grand Isle are irresistible to Edna, and her sexuality awakens under the influence of nature, sea, Creole women and men, and her longing for love and passion. This environment sharpens Ednas senses. The sea becomes very important to Edna as she learns to appreciate it. At first, Edna was afraid of swimming not because of her physical limitations, but because of her fear of being alone in the water. Ednas desire to swim alone in the sea without anyone standing near emphasizes her growth as an individual. She is no longer afraid of loneliness, she realized that she is not only part of domestic place, but part of the world. The Awakening is about the beginning of selfhood, and Ednas return to the sea, the source of life can be interpreted as a beginning of self-understanding. Ednas victory is in her awakening to an independence, passion, and self-understanding, but she refuses to live without human status and be judged by her ability to be a dutiful mother. The narrator in The Yellow Wallpaper doubts her husbands opinions and her own role in their relationship; being unable to write and communicate with her friends, she sees herself in the image of the woman in the wallpaper and identifies her thoughts and doubts with this image. The narrators urge for independence is more unconscious than Ednas , who fully understands expectations that her husband has of her and her own urges and desires. In the final scene when John faints and she creeps over him she says, Ive got out at lastAnd Ive pulled off most of the paper, so you cant put me back! She achieved h er independence and doesnt need anybody to rely on for survival. She achieved her independence from her submission to her husband, but this independence came at a terrible price- her sanity. The uniqueness of The Awakening and The Yellow Wallpaper caused early reviewers to greet it with hostility. Thus the nation was not ready to wake up to the truth about feminine passion and independence. Kate Chopin and Charlotte Perkins Gilman saw no happy end to the womans urge for freedom. The narrators and Ednas achievement of independence brings them despair rather than fulfillment and happiness. The Yellow Wallpaper and The Awakening are both about the beginnings; they begin a painful process of bridging two centuries, two worlds, two visions of gender. (Dyer,116) Works Cited:Dyer, Joyce. The Awakening: A Novel of Beginnings New York: Twayne Publishers,1993. .uc96f9bc88732e2cb3a9e7444bb9c2e41 , .uc96f9bc88732e2cb3a9e7444bb9c2e41 .postImageUrl , .uc96f9bc88732e2cb3a9e7444bb9c2e41 .centered-text-area { min-height: 80px; position: relative; } .uc96f9bc88732e2cb3a9e7444bb9c2e41 , .uc96f9bc88732e2cb3a9e7444bb9c2e41:hover , .uc96f9bc88732e2cb3a9e7444bb9c2e41:visited , .uc96f9bc88732e2cb3a9e7444bb9c2e41:active { border:0!important; } .uc96f9bc88732e2cb3a9e7444bb9c2e41 .clearfix:after { content: ""; display: table; clear: both; } .uc96f9bc88732e2cb3a9e7444bb9c2e41 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uc96f9bc88732e2cb3a9e7444bb9c2e41:active , .uc96f9bc88732e2cb3a9e7444bb9c2e41:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uc96f9bc88732e2cb3a9e7444bb9c2e41 .centered-text-area { width: 100%; position: relative ; } .uc96f9bc88732e2cb3a9e7444bb9c2e41 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uc96f9bc88732e2cb3a9e7444bb9c2e41 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uc96f9bc88732e2cb3a9e7444bb9c2e41 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uc96f9bc88732e2cb3a9e7444bb9c2e41:hover .ctaButton { background-color: #34495E!important; } .uc96f9bc88732e2cb3a9e7444bb9c2e41 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uc96f9bc88732e2cb3a9e7444bb9c2e41 .uc96f9bc88732e2cb3a9e7444bb9c2e41-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uc96f9bc88732e2cb3a9e7444bb9c2e41:after { content: ""; display: block; clear: both; } READ: Public Relatons Volvo Case Study EssayKnight, Denise D. Charlotte Perkins Gilman: A Study of the Short Fiction. New York: Twayne Publishers, 1997. Scharnhorst , Gary. Charlotte Perkins Gilman. Boston: Twayne Publishers, 1985. Per Seyersted. Kate Chopin: A Critical Biography .Norway: Universitetsforlaget, 1969. The Awakening Chicago:Herbert S. Stone;Co.,1899. ReprintThe Yellow Wallpaper. Boston: Small, Maynard ;Co., 1899. Reprint. Afterword by Elaine Hedges. New York: The Feminist Press, 1973Words/ Pages : 2,457 / 24

Sample Essay Responses to Story of an Hour

Sample Essay Responses to Story of an HourIn this article, I will provide you with the sample essay responses to the story of an hour. It is very helpful if you know how to do this. You may also want to ask help from other people who can do this.The story that you are about to read starts with a few words spoken by a 'day'hour' employee. She talked about a staff meeting and how she made new memories during her time at the company. This story is about employees interacting with each other as well as with management and this makes the interaction so interesting and memorable. We all have good and bad days and can appreciate the good moments while the bad moments make us remember the good times.During the story, you will find that the employees started making notes on their notebooks when they heard the meeting was starting. They kept on talking about how it was interesting to share a little note about a meeting during a conversation and also how nice it would be to leave and not have t o wait to get another meeting to go to.The company ended up giving them a week's salary. It was not a big amount, but they have to get used to being paid for that week. In fact, they were afraid to take the first payment, thinking that they did not deserve it because it was for a week. The employees had a good time working together as a team.As the employees got more accustomed to receiving that first check, they started asking each other what it would mean for them if they got the check each week and not knowing the answer they are each taking a step closer to the company salary that they desire. They also felt more satisfied and pleased with the company than before.They also took a lot of care of each other and learned how to respond to other employees during a phone call. That is not to say that each employee knew all the answers about other employees or they could not be their friends and not employees. It just shows how comfortable these employees are in their surroundings.Sinc e they started out with the small initial check, they learned how to share more money for themselves and have a certain dollar amount that they want to receive each week. They also learned how to be responsible and sharing money and keeping all of the checks for themselves and knowing how to give it back to themselves.After reading this story, there are many lessons that you can learn about how to write your own essays for essays about stories about employees. Make sure that you take your time to work on writing a good response. In the end, the story of an hour is simply a great one and everyone should take the time to learn how to write and deliver a powerful response.

Modern European Economics essays

Modern European Economics essays German Reunification- On October 1989 the East German government was in crisis. President Honecker resigned, and his successor, Egon Krenz, promised to give Germany a reform. November 9, it was decided that the Berlin wall no longer served as a function, and east and west Germans attacked the wall tearing it down, as a result, they formed a union, stabilizing social and economic structures. The financial systems merged, and economic problems out grew from this change. The cost of providing goods and services between the east and the west caused strain, and money loss, which would result in economic recession. This caused cutting of social services, increased taxes, and reducing government subsides. A positive economic result from unification was the increased competitiveness of German economy, brought by the increasing market of consumer products. Collapse of the Soviet Union- The USSR collapsed in 1991 causing it to become an independent nation. The progressing problems of the new government caused an exceptional time of economic crisis that effected Russia and putting it in a much worse state in which it had been in an economic decline since the 1970s . It suffered foreign reserves which impaired the countries ability to import goods. Shock therapy program- Prime Minister Yeltsins economic reform for Russia which included freeing prices, and removing legal barriers to private trade and manufacture. This government form was hard to implement in Russia, even though it freed most prices, it still maintained controls on the prices of certain basic consumer goods and key economic inputs. Maastricht Treaty- Agreement that put the European Union as successor to the European Community. It introduced a central banking system, and common currency. It also worked toward establishing a common foreign and security policy. The treaty was signed in 1991, it was ratified and later took effect ...

American Politics in the Context of Obama’s Election and the First 100 Days Essay Example for Free (#100)

American Politics in the Context of Obama’s Election and the First 100 Days Essay Though none opposes the fact that motivation is the real driving engine of every action, there is considerable differences among the theorists about its mechanism, especially when it comes to explore the possibility to bring out the best out in the employees of an organization, where one school of thought advocates for extrinsic motivation for instant solution and the other insists on capitalizing the long-term efficacy of intrinsic motivation. Under the present context of economic downturn, this issue is extremely important, as extrinsic motivation primarily involves money. Therefore, this paper explores the core elements of motivation and concepts of extrinsic and intrinsic rewards from relevant literature, before coming into its own conclusion. Core of Motivation The core of motivation contains three elements like Consciousness, Inverted Qualia and Absent Qualia. These three together create various mental states. Consciousness It has six major identifiable states like 1. State of awareness: When someone is aware of something (Rosenthal, 1986). 2. Qualitative states: Sensing something out of something like enjoying a meal or experiencing a pain. Such experiences are called â€Å"qualia†, and are regarded as â€Å"intrinsic, private, ineffable and nomadic features of experience, † (Dennet, 1990). 3. Phenomenal states: A state involving more than sensory qualia, covering spatial, temporal and conceptual organization of experiences about the world and the person’s inference about it. 4. What-it-is-like states: Associating a sense of experience with another. 5. Access consciousness: It’s like seeing a thing and ideating something and then deciding on something, where there may or may not be any relationship among the above-said three stages. 6. Narrative consciousness: This â€Å"stream of consciousness† contains a series of thoughts from the â€Å"perspective of an actual or merely virtual self† (Dennett, 1991). Inverted Qualia It refers to a personal package of intrinsic and intricate experiences, with which humans decipher various external signals and respond to them, where the nature of experience governs the nature of response. The difference in perception causes inverted qualia, as for example someone might like green tea and detest coffee for no unexplainable reasons. This trait has a strong connection with intrinsic motivation (Dennet, 1991) Absent Qualia The concept of absent qualia claims that functional duplicates of a creature would do the same. As for example, if Mr. X likes tea and dislikes coffee, then his absolute clone would also do the same, for which the clone would not need an intricate and intrinsic package of experiences (Dennet, 1991). This concept backs the idea of getting result through extrinsic reward – as for example, if Mr. X and Mr. Y do identical jobs under identical conditions, then if Mr. X feels satisfied with cash reward, Mr.  Y would too follow the suit without a second thought! This study thus highlights two sets of hidden relationships, one, between inverted qualia and intrinsic motivation/rewards, and two, between absent qualia and extrinsic motivation/rewards. In any case, humans’ (apparently) involuntary association with rewards too has its routes in their perceptions, which maintain a master list of individual desires, and accordingly propel them to fulfill such desires. Put into an imaginary diagram, the mechanism of human mind can look somewhat like below: Mechanism of Motivation Motivating Tools From the organizational perspective, the ways and means to motivate the employees can be many. However, the common ones among them are, 1. Rewards 2. Retention 3. Morale 5. Job-enrichment 6. Reinforcement 1. Rewards System: Rewards or recognition system has a great bearing on the emotional plane of humans. † Every behavior comes out of ‘pain and gain’ principle†, says Khera (2004, p. 110). There can be many types of tangible gains like money, vacations or gifts, or they can be intangible, like recognition, appreciation, sense of achievement, growth, responsibility, sense of fulfillment, self-worth, etc. 2. Retention: It highly motivates the employees, as â€Å"Retention is critical to the long term health and success of the company† (Heathfield, 2008). 3. Morale: The elements like praise, love and faith can charge up anyone under any circumstance. 4. Job Enrichment: It relates to the in-house grooming of the employees to become an expert in the related field. 5. Reinforcement. By all means, it is a tool to control the employee behavior (Positive, 2000), which binds the company activities together. Other Factors Related to Motivation There are three other factors that can be instrumental to keep employees motivated, and they are: Job Satisfaction, Goal-setting and Performance appraisals. They are considered to be the self-boosters of the employees, and according to Murphy (2001), belief is a thought that causes the power of subconscious to be distributed into all phases of life. Motivation and Reward System Reward systems are created to fuel the employee cooperation, effort and overall satisfaction of all members of the company Cacioppe (1999). Other researchers like Hackman (1997) Shea and Guzzo (1987) too have endorsed this view, and suggested to align rewards with group activities. The basic parameter of the formulating a reward structure, however, is expected to apply the common logic like optimizing the ability of the workforce as a whole, though in practice it might go down to an individual, especially where the work patterns are not interdependent. This situation commands a quick review of the nature of intrinsic and extrinsic rewards. Intrinsic Rewards Deci (1975) says that intrinsic rewards evoke a sense of personal causation – i. e.  , an inward mechanism serving as the guiding engine for the action, where its elements are usually intangible and working on the plane of one’s perception, where the journey is being enjoyed over the outcome. Extrinsic Rewards Extrinsic rewards are supposed to generate perceptions of external causation (Deci, 1975) by being mostly tangible in nature – a hike in salary or status, or material gains in other forms. However, researchers like Guzzo, (1979) defies any division in the reward system and considers it a single, usable tools to tweak the frequency of desired response of the employees towards a desired direction. Researchers like Hull (1943) and Skinner (1953) placed extrinsic reward as a direct link between stimulus and response, and their views include punishment as a stimulus too, besides subscribing to the power of stimulus. Reaction No matter how much Hull (1943) and Skinner (1953) wanted to establish extrinsic motivation as the best motivating tool to earn competitive advantage, extrinsic motivation carries a hidden cost besides the cost involved in its implementation. Researchers like Deci and Ryan (1985) used attribution theory and suggested that humans constantly reassess the reasons for their behaviors besides others. Before that, Lepper et al. (1973) had observed that reinforcement generates two effects for the management, like gaining control over activity or fastening the process; two, the backlash effect in absence of reinforcement. The example below would explain it better: A group or an individual gets a reward of x amount of money for a period y, where x+y=m, m being the increased rate of production. Before that, the situation was y=z where production was z. Now in the absence of reinforcement and with the influence of attribution theory, the situation would stand like y-x = n, where n < z. This clearly goes against the basic reason for motivating the employees, i. e. , to enhance the profit of the organization. â€Å"Engagement occurs when an employee connects emotionally with his work,† says Paul Glen (2007), and if one checks the mechanism of motivation, one gets convinced that extrinsic motivation cannot influence the employees to connect emotionally with their work, as it is guided by absent qualia, i. e. , a momentary and involuntary chase, where emotion has no role to play. On the other hand, the intrinsic motivation is guided by inverted qualia, i.  e. , conscious chase and that clearly takes along emotion in its journey and influence the human mind in no less than six ways. Conclusion The research and discussion above clearly shows that extrinsic motivation system can be a threat in disguise for the organizations especially under the present context of economic downturn, while intrinsic motivation can be the ideal solution under the same circumstance, where it can raise emotional attachment with the organization and inspire the employees to produce more for less. References Cacioppe, R. (1999). Using team-individual reward and recognition strategies to drive organizational success. Leadership and Organization Development Journal, 20(6), pp. 322-331. Deci, E. and Ryan, R. (1985) Intrinsic motivation and self-determination in human behaviour. New York: Plenum Press. Deci, E. L. (1975). Intrinsic motivation. New York: Plenum. Denett, D. C. (1990). Quining qualia†. In Mind and Cognition, W. Lycan (Ed. ), Oxford: Blackwell, 519-548. Dennett, D. C. (1991). Consciousness explained. Boston: Little, Brown and Company. Glen, P. (2007). You Can’t Outsource Retention. Computerworld, July 16, 2007. Guzzo, R. A. (1979). Types of rewards, cognitions, and work motivation. Academy of Management Review, 4(1), pp. 75-86. Hackman, J. R. (1997). Why teams don’t work. In R. S. Tindale, J. Edwards, & E. J. Posavac (Eds. ) Applications of theory and research on groups to social issues. New York: Plenum. American Politics in the Context of Obama’s Election and the First 100 Days. (2016, Oct 14).

Political Philosophy Essay Example | Topics and Well Written Essays - 1500 words

Political Philosophy - Essay Example ers like others in their times thought deeply about the role of the rulers who were at that time Kings and Queens and whether hereditary rights alone are enough to govern. This reflected in their works on property and man’s right to own property as well as the kind of contract that man had with state in such matters. In this paper, I draw upon the works of these three thinkers to assess their contribution to the issue of private property and man’s right to own such property as well as the fact that we might not have such rights at all. These three thinkers represent different bands in the spectrum about the issue and hence their contributions are worth comparing and contrasting to arrive at an understanding of what their views about the issue were. Among all the three thinkers, Locke was the most vocal exponent of man’s right to own property and the role of the state in facilitating such rights. However, Locke’s views were nuanced as far as owning private property was concerned. For instance, Locke held the view that since we are free in our movements and are owners of our bodies, so, any efforts that we put in to â€Å"pour ourselves† into improving natural objects like land must necessarily belong to us as we have invested significant time and energy in making the land worthwhile for human use. The way in which Locke proposed this in The Second Treatise on Government is by alluding to the investment of labor that one does to improve the land for the use by all. To cite Locke, â€Å"The same principle of appropriation by the investment of labor can be extended to control over the surface of the earth as well, on Lockes view. Individuals who pour themselves into the land—improving its productivity by spending their own time and effort on its cultivation—acquire a property interest in the result. (2nd Treatise  §32) The plowed field is worth more than the virgin prairie precisely because I have invested my labor in plowing it; so even if the prairie was

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

Trifles - Essay Example The women are there to collect a few clothes and necessities to take to Minnie. As they move round the house, the women find the cage of Minnie’s pet canary broken open and then find the corpse of the bird in a box with its neck wrung. It is obvious to Mrs. Peters and Mrs. Hale that Wright has killed the canary and this is Millie’s motive for murdering her husband. In a show of feminine empathy and solidarity, the two women conceal Minnie’s crime from the men. The moral dilemma of the play lies in the unspoken debate on Minnie’s guilt, or innocence, and the rightness of the action of the women. Minnie Wright should not be found guilty of her actions because of the personality of her husband, the fact that she has been punished enough, and the low chances of her receiving justice at the hands of a largely male jury. John Wright is a man of queer character. He is obviously not a sociable man and is critical of others. Refusing to join Lewis Hale in a party t elephone, Wright says, â€Å"folks talked too much anyway, and all he asked was peace and quiet† (Glaspell, 5). It is clear that he is a taciturn, unsociable man who prefers to be a loner. His personality is characterized by the absence of any trace of joy. Mrs. Hale tells the County Attorney, â€Å"I don’t think a place’d be any cheerfuller for John Wright’s being in it† (Glaspell, 11). It is acknowledged that, in spite of being â€Å"good† in terms of being a teetotaler , truthful and paying his debts, he is undoubtedly â€Å"a hard man† (Glaspell, 22). Again, in every reference to the murdered man, there are suggestions that he was not a good husband. Hale hints of Wright’s indifference to Minnie’s needs by saying, â€Å"I didn’t know as what his wife wanted made much difference to John† (Glaspell, 5). Mrs. Hale confirms her husband’s view of Wright by pointing out that he did not have the homemak ing instinct. Wright is so close-fisted that he does not give Minnie the little money she needs to join the Ladies Aid. His wife does not have the means to wear pretty clothes and is forced to be shabbily turned out. Above all, it is evident that John Wright had a cruel streak in him. This is demonstrated in his killing of the canary. There is no doubt that Wright is the one who wrung the bird’s neck. A man who could break open a bird cage and brutally strangle the helpless creature is not a man to live with. John Wright’s character is definitely an extenuating factor in any estimation of Minnie’s actions and her guilt. Wright’s character is such that any woman who is constrained to share his life undergoes a form of punishment. Minnie Wright has been punished enough over her years as John Wright’s wife. When just a casual meeting with the man is â€Å"like a raw wind that gets to the bone† (Glaspell, 22), it is clear that being his wife is hell. The woman who â€Å"used to wear pretty clothes and be lively, when she was Minnie Foster, one of the town girls singing in the choir,† (Glaspell, 14) is transformed by her marriage into a shabbily dressed, silent housewife. The transformation is so great, that Mrs. Hale exclaims in emphatic wonder, â€Å"How – she – did – change (Glaspell, 22). Wright’s off-putting personality ensures that she has no visitors and remains in lonely isolation. His tight-fistedness closes Minnie’s door to any social life. Mrs. Hale regrets the fact that she never