Incomes Can Invested Operating Assets Retire Debt Shareholders Finance Essay - Free Essay Example

Sample details Pages: 8 Words: 2343 Downloads: 3 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? INTRODUCTION Incomes are earned by successful companies. These incomes can be invested in operating assets, used to retire debt or repurchase shares, or distributed to shareholders in the form of dividends. When investors buy an ordinary share in a company, they become a shareholder of the business and to that extent they will have certain entitlements, including the right to receive dividend payments. Don’t waste time! Our writers will create an original "Incomes Can Invested Operating Assets Retire Debt Shareholders Finance Essay" essay for you Create order Dividends are defined as a form of rational income distribution offering to shareholders (Baker et al, 2007). Dividends are a way for companies to reward shareholders for their investment and risk-bearing. Besides, dividends also give shareholders additional returns in addition to capital gains. Normally, dividends will be distributed in the form of cash, though it can also come in the form of stock dividends. Dividends are decided upon and declared by the board of directors. Nevertheless, this pay-out is not guaranteed and the amount that shareholders will receive varies from company to company and year to year. Generally, there are two types of cash dividends, which are interim dividends and final dividends. Interim dividends are declared and distributed before the companys annual earnings are known. These interim dividends are paid out of undistributed profits brought from previous periods. A company may choose to pay interim dividends quarterly or half yearly as long as it has adequate undistributed profits brought forward from previous periods. These dividends usually accompany the companys interim financial statements. On the other hand, final dividends are declared at the end of the financial period at the time when the directors are aware of the companys profitability and financial health. Normally, final dividends are declared before the books are closed and will be paid the following year. Thus final dividends will appear as dividends payable or proposed dividends under current liabilities in the balance sheet of that period. In Malaysia, companies are free to decide when and how much to pay out in dividends for a specific financial business year as long as they comply with the Companies Act, 1965. According to Section 365 of the Act, No dividend shall be payable to the shareholders of any company except out of profits or pursuant to Section 60. In other words, the Act requires that dividends of a company can only be distributed from the profits of the company except pursuant to Section 60 of the Act. Besides, the unique characteristic of dividends in Malaysia is the tax exemption feature. With effect from the year of assessment 2008, a single-tier income tax system will replace the imputation system. Under the imputation system, a Malaysian resident company is required to deduct taxes at the prevailing corporate tax rate on taxable dividends paid to its shareholders. This tax is already accounted for through the tax paid by the company on its taxable profits, which is accumulated as dividend franking credits (Section 108 credits). When shareholders receive taxable dividends, they are entitled to a tax credit for the tax already paid by the company in respect of the income. Those credits are then used to offset the shareholders tax liability. However, under the single-tier system, profits are only taxed at the company level; thus, dividends paid under this system will be tax-exempt in the hands of shareholders. Since Modigliani and Millers seminal studies (1958, 1961), dividend policy has been an issue of great interest in the finance literature. Following their irrelevance dividend policy hypothesis many explanations have been provided in order to solve the so-called dividend puzzle. Despite a large body of literature on dividends and payout policy, researchers have yet to reach a consensus on why firms pay dividends and what determines the payout ratio. Some of the theoretical principles underlying the dividend policy of firms can be described either in terms of information asymmetries, the tax-adjusted theory, or behavioral factors. The information asymmetries encompass several aspects, including the signaling models, agency costs and the free cash flow hypothesis. 1.2 PROBLEM STATEMENT Dividends are payments made by a company to its shareholders, usually after a company earns a profit. Thus, dividends are not considered as a business expense but are a sharing of recognized assets among shareholders. Dividends are either paid regularly or can be called out anytime. Consequently, a dividend policy is a set of company rules and guidelines used to decide how much the company will pay out to its shareholders. Dividend policy is an essential financial decision made by the board of directors and the management and this decision is one of the fundamental components of corporate policy. Dividend policy has been viewed as an issue of interest in the financial literature and one of the most controversial topics in finance. Despite a large body of literature on dividends and payout policy, researchers have yet to reach a consensus on why firms pay dividends and what determines the payout ratio. The extent literature on dividend payout ratios provides firms with no generally accepted prescription for the level of dividend payment that will maximize share value. Some researchers believe that dividends increase shareholder wealth (Gordon, 1959) while many others believe otherwise. Miller and Modigliani (1961) in their irrelevant dividend hypothesis, asserts that under perfect market conditions, characterized among others by the non-existence of taxes, transaction costs and asymmetric information, dividends are irrelevant since shareholders can create homemade dividends by selling a portion of their portfolio of equitiesÂÂ  if they want cash and that there is a tradeo ff between current dividends and future capital gain. Taking into consideration various capital market imperfections, a considerable amount of theory and model are suggested to explain the dividend policy of companies. Signaling models are based on the assumption that managers have more information about the companys future cash flow than do individuals outside the company, and they have incentives to signal that information to investors (Gugler, 2003). Unexpected changes in dividend policy are used to mitigate information asymmetries between managers and owners (Frankfurter and Wood Jr., 2002). On the other hand, agency theory posits that by distributing resources in the form of cash dividends, internally generated cash flows are no longer sufficient to satisfy the needs of the companies. As a result, companies will visit the capital market more frequently for financing needs, thereby bring them under the greater scrutiny of the capital market (Easterbrook, 1984). Therefore, the payment of dividends provides the incentive for managers to reduce the costs associated with the principal/agent relationship. Agency theory seeks to explain corporate capital structure as a result of attempts to maximize shareholder wealth since dividends can act as a bonding mechanism to reduce the agency costs arising from the conflict between managers and shareholders. Starting with Jensen and Meckling (1976), researchers have been addressing the agency problem in finance from many angles. Nowadays, extensive research has been carried out regarding the issue of agency costs of dividends and the standard findings shows that dividends mitigate the free cash flow and therefore limit the managers ability to enlarge his or her own perks. However, this finding is still inconclusive since other studies have questioned the validity of this finding. For example, Noronha et al. (1996) had regressed five factors as a proxy for agency costs on the dividend payout ratio, but they found that the dividend policy is not the product of an attempt to mitigate the free cash flow problem. Agency costs happen because of conflicts of interest between agents and shareholders. Therefore, agency costs are zero in a 100% owner-managed firm. As a companys ownership structure changes and ownership is separated from control, incentive alignment problems become more important. It is assumed that if managers and shareholders are left alone, they will attempt to act in his or her own self-interest. Self-motivated management behavior includes direct expropriation of funds by the manager, consumption of excessive perquisites, shirking and suboptimal investment. The nature of monitoring and bonding contracts, the managers taste for no pecuniary benefits and the cost of replacing the manager make the actual magnitude and impact of this self-seeking behavior vary across company and country (Jensen and Meckling, 1976). Agency theory has also brought various external and internal monitoring and bonding mechanisms to the forefront of theoretical discussion and empirical research. Recent studies emphasize the potential conflicts of interest between controlling shareholders and other shareholders. For example, Shleifer and Vishny (1997), Faccio et al. (2001) and Holderness (2003) argued that when large owners gain nearly full control of the corporation, they prefer to generate private benefits of control that are not shared by minority shareholders. Hence, firms with large controlling shareholders may exhibit a different type of agency conflict, namely the expropriation of minority shareholders by majority shareholders. On the other hand, in the presence of large shareholders, managerial discretion can be restrained to some extent and agency costs between managers and shareholders are reduced because large shareholders have the ability and the incentives to monitor and discipline management (Shleifer a nd Vishny, 1986). However, this would imply a lesser role for corporate payout policy to address agency problems between corporate insiders and outside shareholders. Despite a great deal of prior research on the subject, few studies investigated the agency and ownership-based explanations of dividend policy. It is also important to note that the extent to which the companys dividend payout policy is effective in reducing the expected agency costs may also depend on its ownership and control structure. Nevertheless, one study by Mat Nor and Sulong (2007) had examined the relationship between ownership structure and dividends in Malaysia. They had used four types of ownership, namely ownership concentration, government ownership, foreign ownership and managerial ownership. However, their findings show a low explanatory power (between 0.118 and 0.124). On the other hand, a study in UK by Short, Zhang and Keasey (2002) that examined the link between corporate dividend policy and the ownership of shares by institutional investors and managers, using four models of dividend policy, the full adjustment model, the partial adjustment model, the Waud model and the earnings trend model found a very high explanatory power (between 0.843 and 0.993). Their study is the first example of using well-established dividend payout models to examine the potential association between ownership structures and dividend policy. These four models, which describe the adjustment of dividends to changes in several measures of corporate earnings, have been modified by the addition of dummy variables representing institutional and managerial ownership, in order to determine whether the presence of the specific classes of investors in the ownership structure affect the process of determination of the level of the earnings that are being distributed. Thus, this situation brings up a question whether it is true that ownership structure has a low impact on corporate dividend policy in Malaysia. Therefore, this study attempts to examine the hypothesized relationship between corporate dividend policy and the various types of ownership structure by using dividen d payout models. 1.3 OBJECTIVE OF THE STUDY Main Objective: To investigate the adoption of agency costs theory in explaining dividend policy in Malaysian listed companies. Specific Objective: To examine the relationship between various ownership structures based agency cost proxies on dividend policy. To identify which agency cost proxy is dominant in influencing dividend policy over the company. To identify which dividend model is superior in explaining the corporate dividend policy with variables associated with ownership structures. 1.4 SIGNIFICANCE OF THE STUDY This study contributes to the growing body of survey research on dividend policy. For example, the current study not only updates previous research by Mat Nor and Sulong (2007) but is also applied in a different model, namely, the Full Adjustment Model, the Partial Adjustment Model and the Waud Model. These three types of dividend models had been modified to account for the possible effect of ownership structure and dividend policy. This study utilizes these three types of dividend models since it was found from previous research that dividend models can have the significant effect on ownership structure. In addition, this study is expected to support the agency theory, especially in explaining the ownership structure policy to reduce agency conflict. Consequently, this study would assist each ownership class to understand the explanation of the agency relationship. Shareholders with respect to stock investment in companies should be concerned with the agency conflict between ownership classes. Therefore, shareholders should justify that dividend policies are better control mechanisms for the agency conflict. Lastly, this study is also important in helping policy makers and companies to appropriately address the issues of agency costs. 1.5 LIMITATIONS OF THE STUDY The main limitation of this study is that the data period covers only on the year 2007. The shorter period of study may not be representative of the way companies operate their business cycle. Thus, a longer period of study might be good to provide better results for this research. The data for ownership structure was gathered from the list of the thirty largest shareholders disclosed in the company annual report. Consequently, the data may not be representative of the entire company. The study only covers 150 public-listed companies in the selected sectors. Hence, the results cannot be treated as conclusive for all sectors. Besides that, since the study was limited to publicly-held companies, the results may not necessarily be applicable to privately-held companies. 1.6 CONCLUSION Dividends distribution is one of the simplest ways for companies to communicate their financial well-being and shareholder value. Dividends send a clear, powerful message about future prospects and performance. Dividends are important for more than income generation since it also provides a way for investors to assess a company as an investment prospect. This study tests the relationship of ownership structure and corporate dividend policy via three types of dividend models, namely, the Full Adjustment Model, the Partial Adjustment Model (Litner, 1956) and the Waud Model (1966). It examined the adoption of agency costs theory through ownership structure and dividend policy. Significant results could act as guidance for companies and policy makers to appropriately address the issues of agency costs. The next section of the study briefly reviews the theoretical and empirical literature. Then, the third chapter describes the data, develops the theoretical model and also discusses the research framework. Chapter Four will reveal the empirical results while the summary and conclusion of the study are presented in Chapter Five.

Theme Of Love Gone Love And A Midsummer Nights Dream

Literature Theme Comparison Love is a popular theme in a multitude of literature pieces throughout the times. Forbidden love seems nearly as popular as does love gone wrong and unconditional love. Two tales that contain the theme of forbidden love, the theme of love gone wrong, and the theme of unconditional love are: William Shakespeare’s A Midsummer Night’s Dream and Fay Weldon’s â€Å"IND AFF or Out of Love in Sarajevo.† Though these stories were both written many years apart, they have a commonality with their themes. These themes can be drawn by the individual story’s main characters and main events. Even though the theme of love gone wrong displays itself a bit differently in each piece, its identification is still very clear in†¦show more content†¦The potion is again administered but this time to the intended individuals. Demetrius ends up falling in love with Helena and Lysander falls in love with Hermia. Even though the story is a whirlwind of crazy love gone wrong, everything ends up working out for everyone in the end. There are copious amounts of evidence within this story to support the theme of forbidden love, the theme of love gone wrong, and the theme of unconditional love. The theme of unconditional love is nearly screaming from each line of the play. The audience is made aware of the love between Lysander and Hermia very early on. Hermia’s father wishes her to marry Demetrius and he mentions that she belongs to him and therefor if she doesn’t do as he asks he can have her killed. Despite this Hermia pleads, â€Å"So will I grow, so live, so die, my lord, Ere I will yield my virgin patent up Unto his lordship, whose unwished yoke My soul consents not to give sovereignty, (Shakespeare, 1595).† Ultimately Hermia is trying to make everyone aware that she would much rather whither away and die than to give up her virginity to someone that she doesn’t love. 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Appraise Archive Management

Question: Evaluate the scope of archive operations to preserve and deliver current and historical literature. Share how digital archive databases might pose limits on end-users (e.g., type and quality of literature, skills and knowledge level of end-users, associated costs, and security issues). Answer: Introduction In the context of archival sense, Bingham, (2013) commented that appraisal is the techniques that is mainly conducted with the help professional archivist in which all the records are examined to do the determination of the values. Moreover, different considerations at the time of conducting the appraisal discuss about the process to meet the record-granting organizational needs, process to sustain the requirements of the organizational accountabilities and the process to meet the expectations of different record-using communities (De Virgilio, Maccioni Torlone, 2014). In this report, the analyst did evaluation of the scope of different archive operations in terms of preserving as well as delivering both the current and historical literatures (Chauhan, 2014). Moreover, it also discusses about the techniques of digital archive databases to pose limits on different end-users. Evaluation of the scope of archive operations to preserve as well as deliver both current and historical literature In article 1, Cormode Firmani, (2013) commented that archive operations mainly helps to take different preventive measures that mainly used to detect different criteria of malicious attacks. Moreover, all these attacks depending on data-intensive applications become serious types of threats. In order to discuss about the scope of different archive operations it expands the cyber attacks pressure database management to prevent not only the unauthorized accesses and also different tolerate types of intrusions (De Bruyne Fischhendler, 2013). Apart from this, this paper mainly focuses on different critical aspects of intrusion database systems that include both damage assessment as well as repairing techniques. In the context of article 2, analyst discussed about different criteria of heterogeneous as well as homogenous infrastructures, huge type of datasets, and parallel type of algorithms (Cormode Firmani, 2013). Moreover, two types of concerns of this research paper address both the query execution planning as well as data access integration type. Apart from this, this article also helps in order to do the evaluation of archive operations scope that mainly helps to preserve and to deliver both historical as well as current literature. In article 3, it mainly discusses about different management issues that are mainly related with the database quality. However, analyst also discusses about different discovery tools that are mainly used in decision-making process and the impacts of database quality decisions on users (De Bruyne Fischhendler, 2013). Moreover, this also discusses about different issues, decision, philosophies that remain unaltered In article 4, analyst discusses that depending on the initiation of distributed computing, querying of huge datasets used in data repositories depending on the global platform becomes the challenging question of this particular research paper (De Virgilio, Maccioni Torlone, 2014). Apart from this, in this paper we expand the blackboard method with the help of multi-stage and hierarchical approaches. In article 5, KafalÄ ±, Gnay Yolum, (2013) describes about synchronous check pointing mechanism with the help of which it degrades the performance for check pointing operations to get complete. Moreover, in this article it also discussed about different techniques that helps to prevent contention for the criteria of stable storage. Moreover, in this report, it uses the quasi-synchronous check pointing mechanisms to mitigate various problems regarding synchronous as well asynchronous algorithms (De Virgilio, Maccioni Torlone, 2014). Sharing of the techniques of digital archive databases might poses limits of end-users In article 1, KafalÄ ±, Gnay Yolum, (2013) discussed that both check pointing as well as roll back recoveries are the two techniques that are mainly used for handling the failures according to the distributed system. Moreover, in this article it also discussed about both necessary as well as sufficient conditions that are mainly used for transaction-consistent global checkpoints in the distributed database system. Apart from this, De Virgilio, Maccioni Torlone, (2014) discussed about different issues that are mainly related with the designing procedures and the implementation techniques of recovery techniques as well as efficient characteristics of check pointing required for different distributed systems that are mainly understood. However, in this paper, Moore Evans, (2013) also cited that different analogous questions that are mainly required for distributed database system. Apart from his, it is also used for different audit purposes. Moreover, in this paper, De Bruyne Fischhendler, (2013) also elaborated the establishment of both necessary as well as sufficient conditions for the check points of different data items become the part of transaction-consistent global check points used for distributed databases. Furthermore, these types of conditions mainly help in order to do designing and the implementation of non-intrusive Check pointing algorithms for the distributed database systems (Lawrence, 2013). In article 2, Moore Evans, (2013) discussed that depending on synchronous check pointing, all processes are mainly involved in the process of distributed computation techniques in the simultaneous manner. In the context of distributed computing system, all existing check-pointing algorithms are mainly classified into three algorithms that include asynchronous, synchronous as well as quasi-synchronous. In this particular paper, we proposed staggered quasi-synchronous which mainly used to reduce the conflict of network stable storage (Qin Rusu, 2013). The objective of this particular paper is the use of staggered quasi-synchronous check pointing algorithm that mainly allows doing the reduction of contention of stable storage. It also evaluated the performance of this algorithm with the help of simulation techniques (De Bruyne Fischhendler, 2013). In article 3, Roberts, (2013) focused on efficient criteria of damage assessment as well as repairing of distributed database system. However, this type of complexity is mainly caused with the help of distributed transaction processing, data partition as well as failures that makes intrusion recovery more challenging than centralized database system (Qin Rusu, 2013). Moreover, this paper also did the identification of all key challenges and use efficient algorithm for both repairing and distributed damage assessment. In article 4, Sasak Brzuszek, (2010) commented that it is mainly introduces heuristic framework for doing the optimization techniques of Query Execution Plan (QEP) on the worldwide platform. However, in this research paper, it mainly discusses about multi-staged blackboard mechanism to do the determination of available data, operations and resources to perform the queries in optimal manner (Roberts, 2013). Apart from this, the evaluation scenario discussed about different findings dependent on then changes of selections. In article 5, Sasak Brzuszek, (2010) cited that all the management issues are mainly related with the quality of the librarys catalog as well as the source databases also reflects the continual criteria of evolution. Moreover, in the article it also discussed about the persistent shortcomings of decision-making process that needed to be addressed all lack age based on users benefits and needs (De Virgilio, Maccioni Torlone, 2014). Apart from this, it also discussed about all the actual impacts of users for all database quality decisions. Conclusion In this particular research paper, it mainly discussed the evaluation of the scope of archive operations mainly used to preserve as well as to deliver both the current and historical literature. Moreover, with the understanding of different archive operations it is mainly needed all the digital archive operations poses limits on end-users depending on different security issues, different kind of associated costs. Apart from this, in this research paper, analyst discusses all type of assessment as well as different repairing techniques that are mainly used for distributed database systems and different management issues related to the databases qualities. Furthermore, the analyst also discusses about the uses of query optimization framework for distributed database resources. Furthermore, analyst also concludes that in this report it also discusses about better understanding of database administration as well as management. Reference List Bingham, A. (2013). The Times Digital Archive, 1785-2006 (Gale Cengage).The English Historical Review,128(533), 1037-1040. Chauhan, A. (2014). Two phase algorithm to establish consistent checkpoints for recovery in multi process environment.IOSR Journal Of Engineering,4(5), 39-42. Cormode, G., Firmani, D. (2013). A unifying framework for à ¢Ã¢â‚¬Å¾Ã¢â‚¬Å" 0-sampling algorithms.Distrib Parallel Databases,32(3), 315-335. De Bruyne, C., Fischhendler, I. (2013). Negotiating conflict resolution mechanisms for transboundary water treaties: A transaction cost approach.Global Environmental Change,23(6), 1841-1851. De Virgilio, R., Maccioni, A., Torlone, R. (2014). Approximate querying of RDF graphs via path alignment.Distrib Parallel Databases. KafalÄ ±, ., Gnay, A., Yolum, P. (2013). Detecting and predicting privacy violations in online social networks.Distrib Parallel Databases,32(1), 161-190. Lawrence, M. (2013). Cold War International History Project Digital Archive.Journal Of American History,100(3), 947-948. Moore, R., Evans, T. (2013). Preserving the Grey Literature Explosion: PDF/A and the Digital Archive.ISQ,25(3), 20. Qin, C., Rusu, F. (2013). PF-OLA: a high-performance framework for parallel online aggregation.Distrib Parallel Databases,32(3), 337-375. Roberts, M. (2013). Essay in Review: Labouring in the Digital Archive.Labour History Review,78(1), 113-126. Sasak, A., Brzuszek, M. (2010). Speculative execution plan for multiple query execution systems.Annales UMCS, Informatica,10(2). Singh, R., Sharma, S., Singh, S., Singh, B. (2014). Reducing Run-time Execution in Query Optimization.International Journal Of Computer Applications,96(6), 1-6. doi:10.5120/16795-6505 Wu, J., Manivannan, D., Thuraisingham, B. (2009). Necessary and sufficient conditions for transaction-consistent global checkpoints in a distributed database system.Information Sciences,179(20), 3659-3672.

Illustrations and Interpretations Essay Example For Students

Illustrations and Interpretations Essay An illustration may be defined as a furnishing for a written text in the form of drawings or pictorial presentations intended as an elucidation or adornment. Although interpretations may seem analogous to illustrations, there are subtle but manifest differences between them. Interpretations are extra festoons to a text that arent clearly stated but can be detected if we read between the lines. Often, when we read and analyse a text, we have troubles when interpreting what we read. This is because these vital bits of information can be overwhelmingly tedious to comprehend and arent very manifest. However, if a text is read meticulously, interpretations can be more potent than illustrations. This is despite the saying that a picture is worth a thousand words. Illustrations basically succour the reader to conjure up the images intended by the author but interpretations go beyond that. All we have to do is fastidiously break down the information that is being transferred to us in the text. If we submit our mind and creativity to the text being read, we can scrupously explore another unsurpassed world created by it. In conclusion, we must all explore arts profusely in order to increase the altruism of illustrations and interpretations. This would further increase our elation and appreciation when reading texts. It requires nominal effort to dig up art, afterall, there is art in everything, even roasted apples. So what are you waiting for? Increase your passion for arts today.

Instinctus Bestialis by Gorgoroth free essay sample

Gorgoroth is a Norwegian black metal band, like many of this type, formed in the early 90s. The name comes from a district of Lord of The Rings Mordor set over in the North West corner. Throughout their career, they have been know to kind of, introduce newcomers to the black metal fold along with some of their colleagues like Mayhem, Emperor, Bathory and so on. Also, they have ridiculous live shows. This album, while far from their shortest, is surly very short when you compare it to other black metal albums of just about any kind. Yet the short lengths can help for people who want to try and sample some legendary black metal artists, and see if its their thing. They also get a new vocalist for this album which makes them sound more like Behemoth or any other Blackened Death Metal band. The track lengths seem to also range anywhere from 2 minutes to nearly 6 and the entire sound quality, might I add, is also turned up to 666(pin intended). We will write a custom essay sample on Instinctus Bestialis by Gorgoroth or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Some may say it sucks and prefer the classic Pepsi Can black metal recordings. On the contrary, some say the cleaner production adds to the evil, Satanic themes often found in Gorgoroths music. I would fall in the latter. Personally, this more melodic black metal/blackened death metal approach is a giant leap in musical evolution for this band and it worked. Sure, its not for everyone, nothing is anyway, but the brutality is much more noticeable than say, Mortal Kombat fatalities and packs a giant wallop with, or without their formally traditional black metal sound. The two biggest gripes I have are lack of diverse progression in the album its self and much like most of Gorgoroth, its way too short. I give this a 7/10. I am the Grim Reaper, signing off.

How to Transfer Colleges Successfully Complete Guide

How to Transfer Colleges Successfully Complete Guide SAT / ACT Prep Online Guides and Tips Transferring colleges can be a very difficult decision to make, but you need to find the college that is the right fit for you even if it means transferring. Whether you are trying to transfer from a 2-year school to a 4-year school or from one 4-year university to another, this article is to help you on your journey to transfer! Why transfer? There are many valid reasons to transfer, and before you apply to transfer, you need to figure out what your reason is. The school you're applying to transfer to will want to know why you are choosing to leave: Did you not fit in with the other students? If so, did you try to fit in? Did you join any clubs, teams or Greek life? Did you attend events? Do they not have your desired program of study? Did you decide to switch majors and your school does not have your new major? Did you apply undecided and realize you have a passion for a specific major your school does not have? Did you graduate from a 2-year program with an associate’s degree and now want to pursue a bachelor’s? These are all very valid reasons to transfer.If you are looking to find a college to transfer to, I recommend using the College Board College Search Portalto help you find the right college for you. This portal allows you to search by school size, location, major, diversity, if transfer credits are accepted, and by many more options. If you felt like your school is too small, search by school size to find a larger university, or if you want to be a fine arts major, search by major and find a school with a fine arts program. Whatever you are looking for, before starting your search, make sure you qualify to transfer. Do I qualify to transfer schools? Most universities require that you have completed at least 8 courses at another university to qualify as a transfer student; otherwise, you must apply as a freshman. So long as you have those credits, most schools will let you apply to transfer as either a sophomore or junior (some schools let applicants apply to transfer in either the spring or fall; others only let applicants transfer in the fall) to find out a school’s exact policy, search â€Å"[College Name] transfer policy† in Google. Note: high-school students, who dual enroll at a local community college during high school, still apply as freshman, not as transfer students. How hard is it to transfer? It depends on the school. If you want to know a school’s specific transfer rate, search â€Å"[College Name] Transfer Acceptance Rate.† At some schools, it is more difficult to be admitted as a transfer than as a freshman; while at others, it may be easier to be admitted as a transfer. Some schools only admit transfers if students admitted as freshman choose to dropout or take time off, leaving very few spots for transfer applicants. Other schools plan to take transfer students, holding spots for these students. Some schools may take more transfers because these applicants are stronger, having proved their academic prowess at a 4-year or 2-year college institution. Other schools have lower qualifications for transfer students in order to fill up their classes (and make the most money), since transfer students are not factored in to the school's freshman admit profile (or their overall admission rate) both of which are published and are typically used as a assessment of the school's prestige and academic rigor. Also, transfer applications are oftenneed-aware such as at Brown University, meaning that a transfer applicant’s ability to pay for tuition, room and board is factored making an admission decision.Whatever the school's reason, the difference in freshman admission and transfer admission is striking. Check out the transfer admission rates for Harvard and Notre Dame: Harvard University takes about 15 transfers per year out of about 1500 applicants (1% admit rate for transfers vs 5.9% for freshman) while Notre Dame takes about 190 out of 500 applicants (37% admit rate for transfers vs 21.2% for freshman).You can check out transfer statistics on several schools from the 2012 fall class here. What is the transfer application like? Some schools may vary slightly from this format, but in general, the transfer application is very similar to the normal college application. The transfer application includes Common Application including Personal Statement and Supplement Transcripts, High School and College Mid-Year Report *****different from the normal college application SAT or ACT Score (most schools) Letters of Recommendation Major Specific Requirements: Portfolio, Resume, or Additional Writing Sample (only for certain majors at certain schools) To check a school’s specific requirements, search â€Å"[College Name] Transfer Application.†I will delve into more on each of these components below. Personal Statement and Supplement These are two of the MOST crucial parts of your transfer application.As I said before, you need to tell your story of deciding to transfer and this is your opportunity. If you do not tell it in your personal statement and/or supplement, the admissions officer will not know why you should be invited to attend their school.Be open and honest about why you are deciding to transfer and why you NEED to transfer.Try to explain why their school is truly your perfect fit. If you don’t believe me, here's a quote from theYale University Admissions Office: â€Å"Transfer candidates should also have particularly compelling and well-defined academic reasons for wishing to attend Yale. Wanting to leave one’s current school is not a sufficient argument for admission to Yale. Transfer candidates should explain in their application essays how studying at Yale would give them an educational opportunity particular to their interests that could be experienced nowhere else. The Admissions Committee also gives serious consideration to a transfer applicant’s motivation, curiosity, energy, leadership ability, and distinctive talents. The personal essays and evaluations from college faculty members, deans, and secondary school counselors provide a great deal of insight into these qualities. We hope to find students who have made significant contributions to their college and local community.† How do you explain how their school is your perfect fit? Well, here is a sample mini-transfer personal statement: â€Å"My reason for wanting to transfer arises from a desire to search for those people I really fit in with. I have had a fine experience at my college so far; I enjoy my classes and have made many friends, but something is missing. I yearn for that intellectual challenge surrounded by students who inspire me to be great. I have tried to make this school right for me and search for potential lifelong friends. I have joined the Cooking club, club softball team, and the Oscar Wilde fan club. My experience at my school has convinced me more than ever that your school is my perfect fit, not because I long for the prestige of your institution, but because I long to be with the people who will truly challenge and inspire me everyday.† In addition to the personal statement, most schools require a supplementary essay (usually much shorter than the personal statement), and in the supplement, you have to address a school specific question. Typically, the supplement asks, "Why Our School?" You really need to have a great answer for that question. These two essays (the personal statement and supplement) are very similar, but there is an important distinction between the two. The personal statement needs to show who you are through a story and explain why you, as you are, want to transfer or did not belong at your former school (as I did above in the example).On the other hand, the supplement needs to explain for what academic reason do you want to transfer. Here is the personal statement prompt for all UC Schools such as UC Berkeley and UCLA, "Tell us about a personal quality, talent, accomplishment, contribution or experience that is important to you. What about this quality or accomplishment makes you proud and how does it relate to the person you are?" Again, the focus is on you and your uniqueness, why you as you are, don't fit in at your school. What personal reason do you have for transferring? Were you at a school that was too small for you? Too big? Did you not fit in with the students at that school?Did you visit a friend at Notre Dame and realize you fit in there? Here is the transfer supplement prompt for all UC Schools such as UC Berkeley and UCLA, "What is your intended major? Discuss how your interest in the subject developed and describe any experience you have had in the field - such as volunteer work, internships and employment, participation in student organizations and activities - and what you have gained from your involvement." The focus here is more on the institute you are applying to. Why do you want to go to that school and study that major? What academic reason do you have for transferring?Did you realize your passion for fashion journalism and NYU has a top journalism program in a city where you could intern at fashion magazines? Try to answer both prompts as specifically as you can.Do not be general or vague. BAD for supplement essay: I want to attend Yale because your school is better than my school. GOOD for supplement essay: I want to transfer to NYU because I have discovered my passion for fashion journalism through my fashion blog that has 100,000 subscribers. My school has no journalism program, and NYU’s is the best program for fashion journalism in the country. I know NYU would help me achieve my dream of becoming editor of a fashion magazine. Transcripts In addition to the personal statement and supplement, you will need to provide a transcript from your high school (just as you did for college applications) and a transcript from your college.If you are applying from a 2-year school with a completed Associate’s degree, your transcript from college must show all of your grades and that your Associate’s was received.If you are applying after completing 1 semester at a 4-year university, you cannot send in your transcript until you receive your first semester grades, so that the school can take those grades into consideration. Hopefully, your transcript looks slightly more official. Note: Do not give up on your classes at your current school when you decide to transfer.These grades are EXTREMELY important. If you get B’s at your school and are applying to a more competitive and academically challenging school, the admissions officer may question how you will do at their school.You also cannot give up on your classes once you submit your application. Mid-Year Report The Mid-Year Report is a grade report you send to the schools you are applying to in the middle of the spring semester (typically April 1).From the UPenn Admission Office, â€Å"you will need to print out the form, available through the Common Application, and ask each of your professors to provide a mid-term grade (the grade they would give you if they were to give you a grade at that point in the class) and a signature.† In the report, all of your CURRENT spring semester professors fill out a paper predicting your FUTURE grade in the class and have to sign off on it.You read that right.You have to ask your spring semester teachers to give you a grade prediction and to sign off on it.This can be extremely intimidating, but again is another important part of your application. Again, this is why you CANNOT slack off in your classes at your current school. You need to get the best grades possible to better your chances to transfer.Try to form close relationships with your spring semester teachers.They will be much more willing to slightly inflate your grade (A- to A) on this prediction report if you are an active participant in class and if they like you.Trust me, these professors will be willing to slightly inflate your grade on this sheet to help you transfer if they like you, as this is not guaranteeing what they write will be your actual grade. Again, you cannot give up on your classes at your current school when you decide to transfer. If you got A’s first semester and B’s on your mid-year report, the admissions office may question how you will fair at their school.They do also consider SAT or ACT Scores SAT or ACT Score Some schools may not require you to send these scores, but most universities do require transfers from other 4-year colleges to send their SAT or ACT scores.If you are applying from a 2-year school with a completed Associate’s degree, some schools require you to submit your SAT or ACT score while many others don’t. You should find the university’s policy on SAT/ACT scores for transfers when you search for the school’s application requirements. Again, to find a school’s specific requirements, search â€Å"[College Name] Transfer Application.† For students applying from 4-year universities, your SAT/ACT score will definitely play a role into whether or not you are accepted, but it is not weighted as heavily as in freshman admissions.When you applied as a freshman, the admissions officers didn’t know how you would do at a 4-year university, so they used your score as a measure of that. However, now they have your college grades and can see how you are performing at a 4-year university.If you have straight A’s in all of your biomedical engineering classes at University of Florida but got a 30 on your ACT, the A’s seem very impressive and make the 30 less meaningful. Should you retake the SAT/ACT if you are applying to transfer? You can, but I would only recommend it in certain situations.Your SAT/ACT score is only valid for 5 years, so if your score is older than 5 years, you will be required to retake it.To decide if you should retake the SAT or ACT, find out the 25th/75th percentile scores for current students at the school you are applying to. The 25th/75th percentile scores means that 25% of the students attending have a score at or below that number (this is below average). 75th percentile means that 75% of students have a score at or below that number. In essence, the 25th/75th percentile covers the middle 50% of all students admitted to the school. If you score at the 75th percentile for any school and have great grades from your current college, you have a great chance at getting in. If you're at the 25th percentile, you'll need to have a strong application to boost your odds of getting in. To find the 25th/75th percentile scores for current students at the school you are applying to, search â€Å"[College Name]† freshman admission profile† or â€Å"[College Name]† ACT† or â€Å"[College Name]† SAT† Let’s say, you are applying to transfer to an Ivy (most 25th/75th percentile scores between 34-36 ACT or 750-800 on all sections of the SAT).As I said, your grades are more meaningful than your test score on your transfer application, but that being said if your grades are not perfect (A’s and B’s) with a test score below 31 on ACT or below 2100 on SAT, I would consider re-taking the test to try to improve your score and improve your chances of being admitted. If your college grades are all A’s and your score is within the school’s 25th/75th percentile score, you do not need to retake the SAT or ACT. Letters of Recommendation Most schools require that you submit at least 2 letters of recommendation from COLLEGE professors or teaching assistants. Some schools prefer the letters to come only from professors and NOT teaching assistants such as UPenn, who said, â€Å"The Admissions Selection Committee prefers to review recommendations from professors. We encourage you to meet with your professors and ask for recommendations. However, we understand that some classes may be too large for a professor to write a detailed, personalized recommendation for you. If you ask a teaching assistant to write your recommendation, the class professor MUST sign off on the written recommendation.† Hopefully, your recommender is a little more expressive. You will find a school’s policy on letters of recommendation when you search for the transfer application requirements.You are NOT supposed to reuse your letters of recommendation from your high school teachers.You need new letters from college professors or teaching assistants. Make sure you are forming relationships withyour professors and teaching assistants. You need them to like you enough to be willing to write you a letter of recommendation.Go to their office hours! Participate in class! Study! You need their help.If they don’t have a relationship with you, your letter will most likely turn out pretty mediocre.For more guidance on your letter of recommendation, check out our other article Who Should I Ask to Write My College Recommendation Letter? Major Specific Requirements If you are applying to a specific major or program (such as film, acting, dance, art, music), you may also be required to submit an additional application component such as a portfolio or do an audition.Find out by searching for the specific program you are applying to, search â€Å"[College Name] [program] Transfer Application† such as USC Film Transfer Application. Make sure to also check the deadline for your program.Oftentimes, arts programs (theatre, film, dance, music) will have earlier deadlines than the general university transfer deadline. For help with your major specific application requirements (if you are applying to film school), check out our other article, How to Get Into Film School by a USC Alum.Now that we have covered all components of the application, let’s talk deadlines: Application Deadlines Schools have transfer application deadlines ranging from December 1 to March 1 for Fall admits or November for Spring admits. When you search for the school’s specific requirements (search â€Å"[College Name] Transfer Application†), you will find the deadline. Again, make sure to also search for the specific program you are applying to, search â€Å"[College Name] [program] Transfer Application.†Oftentimes, arts programs (theatre, film, dance) will have earlier deadlines than the general university transfer deadline. Make sure to create a schedule for yourself working back from the timeline. I recommend completing the first drafts of your personal statement and supplement at least one month before the application deadline, so you have time to review and rewrite. Ask teachers to write letters of recommendation at least 2 months in advance of when the application is due.Send transcripts and scores as soon as possible. Check the transfer requirements to see when the last available ACT or SAT testing date is.According to Yale, â€Å"Scores from the February ACT or the March SAT test date should reach [the admissions office] in time for consideration,† but this may vary from school to school, so check the schools you are applying to. Once you submit your application, your journey is not over. Decision Letters and Making the Decision to Transfer or Stay You will receive your decision letters typically in Mid-May for Fall Admission.You typically have only a few weeks to make a final decision.Before making the decision to transfer, consider this Will transferring make you happier? By transferring, will you be more likely to achieve success in your chosen field? If you need financial aid, will you receive financial aid? Will you be able to complete your degree on time? How many of your units will transfer? How many of your units will count towards your degree? Will you need to spend extra time and money to complete your degree? Most schools only let you transfer up to 2 years of credit, so if you applied to transfer in your junior year, you will most likely be restarting as a junior at the next school. Are you okay with that? I also recommend creating a pros and cons list for your current school and the school your were accepted to.I know it may sound old-hat, but it works!Once accepted, you want to make sure transferring is the best decision for you. Remember that when you transfer, it may take time to make friends at your new school.Try to get involved and go to school sponsored events to help meet people and make your transition easier. Another PrepScholar writer transferred schools, and she said at times it can feel at first like being a stepchild or like being someone who married into the family. However, she and the other transfer students bonded; her closest college friends ended up being the other transfer students. She is so happy she transferred.Transferring can be a great experience! Just don’t be shy and get out and meet people! Points to Remember Think about why you want to transfer and convey that to the admissions office through your personal statement and supplement. Work very hard in your current classes (participate and go to office hours), so that you have good grades on your transcript and you have professors who are willing to write you letters of recommendation. Consider whether or not you want to retake the SAT or ACT (if you need to send your scores for your transfer application) Check application deadlines and set up a schedule to complete your application on time. When your decision letters come, really think about whether transferring is the best choice. What’s next? Get more help with your application: Who Should I Ask to Write My College Recommendation Letter? What is a Good GPA? What's a Bad GPA for College? What College Should You Go To? How to Choose a College Want to improve your SAT score by 240 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

Assessment Plan on College Algebra Research Paper

Assessment Plan on College Algebra - Research Paper Example Three categories of learning outcomes are applied in an algebra course. The outcomes are skills, attitude, and knowledge. Knowledge outcome illustrates discipline methods and processes. The students are expected to understand algebraic formulas and expressions, and then apply them to solve mathematical and scientific questions and problems. Students have adequate knowledge through the correct and effective application of the formulas and expressions. The skills outcome illustrates the approaches needed to effectively understand the algebra discipline. An effective algebra course equips the learners with adequate knowledge of skills such as; critical thinking, research, and communication (Boyer, 2011). Critical thinking enables students to analyze mathematical problems, and then illustrate the most appropriate solution for the problem. Research skills enable the student to adequately collect, analyze and present statistical information, during research projects. The communication skil ls of the students are enhanced because the ability to present and share information on statistical issues is enhanced. Attitude outcome addresses the appreciation of the algebra concepts by the students. The students must understand the importance, and the application, of algebra in the society. The algebra concepts are applicable in many work environments, for instance, engineering, and finance. The algebra is also greatly applied in research; for example, quantitative research in projects, and also in marketing research.

Personal Statement in Journalism Example | Topics and Well Written Essays - 1000 words

In Journalism - Personal Statement Example Then I made a decision to pursue my education in journalism and apply for a bachelor`s degree at King Saud University in Saudi Arabia. The desire to become a professional journalist was not the only thing that pushed me to the choice of this career; I was also interested in possibility of research in this field. I also had a substantial practical experience while working for the three major newspapers and TV stations institutions in Saudi Arabia. I saw how the process of information collection, processing, analysis, and demonstration is going on from the inside. During this I time I also understood the responsibility which journalists take when working with information. It is not accidental that media industry workers are called a â€Å"fourth power† because they are able to form tendencies and opinions of people. My experience also enabled me to understand the necessity of Mass Communication for the gradual evolution of the society. But I also faced a lot of questions concern ing the mechanisms of Mass Communication and purposes of this phenomenon. Inability to find answers on my numerous requests personally led me to accepting an offer of an assistant lecturer position in King Saudi University and achieving a scholarship to study Mass Communication in a graduate school in the United States of America. This scholarship will allow me doing a deep and systematic research which I consider to be the only method of answering those questions.   My experience also enabled me to understand the necessity of Mass Communication.

Systems and Operations Management Assignment Example | Topics and Well Written Essays - 2000 words - 1

Systems and Operations Management - Assignment Example For example, adoption of new technologies may not be strategic to an organization since other similar operations can adopt and imitate similar technologies. Human resources are, however, unique since their replication is not easy. As a consequence, effective management and utilization of these resources is pivotal in the attainment of the set objectives and goals. The significance of managing these resources effectively in any operation cannot be overstated. Role of Human Resource Management in operation As mentioned previously, management of human resources is important for success of any organization. There are numerous benefits that organizations accrue from effective management of human resources. Rutherford & O'Fallon (2011) asserts that creating and maintenance of competitive edge requires effective management of human resources. They further argue that other resources, for instance technology, are imitable and do not count as sources of competitive advantage to an organization . The importance of human resource management is discussed in detail in the subsequent paragraphs. HRM aligns skills of staff with the organization’s objectives and utilizes such skills in the attainment of the desired goals. HRM examines the right profile of the staff, the abilities, expertise, qualification, capabilities potential and allocate responsibilities in line with the requirements of an operation. HRM, therefore, ensures that the right skills are utilized, in the required sectors, to achieve the desired goals of an organization (Lussier 2012). This human resource function can be termed as staffing as it channels the right staff force towards specific tasks. HRM also facilitates the acquisition, training and retention of talented employees. HRM establish future needs of an operation and develop strategies for acquisition of an able workforce. The rate of staff turnover has to be minimized in all operations. This is important to alleviate the problems that arise with increasing staff turnover. HRM identifies employee needs and work upon them so that they feel important. This move helps reduce staff turnover to a great extent. HRM undertakes training and development of the organization’s workforce. It avails the right tools and training programmes so as to improve the competency levels of operational staff. Prior to training, needs analysis has to be done to recognize the gaps that exist in an operation. Training ensures that an organization maintains its competitive edge and increases productivity (Loosemore et al 2003). It also helps reduce obsolesce among the staff of an operation. HRM helps create conducive work environment for employees of an organization. It helps to manage grievances that arise among employees or in the work place. It is important for an operation which seeks to be productive to have contended employees. Such a workforce tends to be more productive since HRM attends to their problems. This is also important to an o peration as problems get attended to before they escalate to uncontrollable heights. The other benefits that both staff and the organization gain from HRM include: Motivation of employees, through adequate compensation, which in

Routine Activities Theory (RAT) and Reaction To Crime

Routine Activities Theory (RAT) and Reaction To Crime The RAT also known as the routine activities theory was founded in 1979 by two theorists name Marcus Felson and Lawrence Cohen (Miller, Mitchell, Richard, 2006). It was a reaction to crime rate in the US during the years of 1947-1974 states (Cohen Marcus, 1979). This was a time where both crime rate and economic conditions were increasing which made this a very popular theory reason for this was this theory was the only one to address crime at this point in time. Felson and Cohen based their theory on the rational choice model, which meant people made rational decision which was at their advantage and causing very little disadvantage (Akers Sellers, 2004). (Miller, Mitchell, Richard, 2006) The rational choice theory was the main concept in the classical school of criminology. Throughout this essay we will be looking at whether the routine activities theory prevent crime or displace crime. In order for a crime to occur, Felson and Cohen state there are three key elements which need to be present in order for the crime to be successful, these three elements are; a suitable target, a motivated offender, and absence of capable guardians (Cohen Marcus, 1979). (Akers Sellers, 2004) Suggests that if any of the three elements are to be missing the crime will not take place.The RAT is a framework which provides understanding of how crime occurs. Crime could be altered by manipulating any of the elements, therefore the methodology behind the RAT is crime prevention, and focuses on how crime is made. RAT explains that crime is normal and depends on the opportunities. The perfect type of crime which fits the profile of this theory is burglary. Burglary is a type of crime which is can be considered as a property crime, which is widespread in almost all communities. There are two major problems which can be caused by this type of crime;victims lose their possessions and the other is the amount which the crime puts on the individual.Although the RAT is a new theory, it can be said that this theory could help explain many crimes. The RAT is particularly successfully in explaining burglary. The RAT is a crime preventing methodology, only at time does it prevent crime from occurring but most of the time it displaces crime. Since the RAT is based on peoples routine and patterns on daily activates, taking a perfect of a person who works Monday to Friday and return home after work has a very low chances of becoming a victim (assault and robbery), but if that person is to attend major events such as sports, gigs where the amount of contact with people is huge are likely to become victims of a crime. in recent years there have been a lack of capable guardian and a pattern of excessive drinking which have caused death of two girls, although this hasoccurred patterns and movement in everyday life have changed in the last 30 years. It has changed so dramatically that having to remove both guardians from the house is likely to reduce the offenders chances of getting caught during a day time burglary, the RAT argues the point that crime is unlikely to occur when the presences of e lement to exist (Cohen Marcus, 1979). Most crime are result from exploited opportunity, rather than planning the crime they choose to commit crime spontaneously when the opportunity arises, some are more tempting then others. (Felson Clarke , 1998) has said that there are two acronyms which have been put in place to examine suitability of targets for crime, a: VIVA (standing for value, inertia, visibility, and access) and b: CRAVED; concealable, removable, available, valuable, enjoyable, and disposability which are the elements of conceal ability and disposability (Clarke, 1999) Visible target which are worth value are portable and easy to get at. Since RAT looks at the patterns and movement of daily activities for people it is can prevent crime and also at the same time displace crime, if a person can alter any of the three elements can crime could be prevented or displace depending on the outcome of the alteration. Reppetto (1976) has stated that there are five types of displacement. Spatial and territorial displacement-this happen to most common crimes, this is when crime is moved from one place to the other. Several researches have been made to see the movement for example (Chainey, 2000) found that CCTV is effect way to see the reduction in auto thefts and robbery. However some auto theft occurred in surrounding areas, but robberies didnt. Temporal displacement occurs when there is a movement in time when occurring, the crime for example the offender moving from weekday morning to weekend morning, but crime occurs in the same area. Important to RAT as it analysis pattern and movement. Target displacement-occurs when offends cannot get their target due to target hardening and other strategies put in place to stop offenders such as dogs, house alarms etc. Tactical displacement-when the criminal comes up with a new method of committing the crime, for example carjacking was easier 10-15 years ago than today. Functional displacement this occurs when it is difficult for an offender to commit and crime and is forced to commit another crime due to target hardening. In conclusion, there have been several approaches to studying victimology, they have suggested that the understanding the target, understanding the pattern and victim of crime that make offenders more attractive can provide important information and the examination of the crime. Knowing people and places where offenders are going to target and when the crime is likely to occur can be critical in preventing or reducing crime. The RAT is a perfect theory which provides patterns and analysis of day to day activities for individual who are a target, this also provides on which was this attack can be prevented but mostly the way that is can be displaces. This is a piratical theory which can provide information to victims on how to prevent of displace crime f5rom occurring and make them feel safe.

History Of Coca-cola Essay -- essays research papers

History Of Coca-Cola Coca-Cola was born on may 8th, 1886 at the hands of Dr. John Smith Pemberton. In the laboratory of his house at 107 Marietta Street, Atlanta, Georgia he finally settled on the syrup later to be known as Coca-Cola.1. John Pemberton was born in Knoxville, Georgia in 1831. At the age of 17, he attended the Botanical Medicine School of the State of Georgia.2. After school he owned a drug store in Columbus, Georgia and fought for the confederacy in the Civil War. During the war he became addicted to morphine from an injury.3. After the war ended, he moved to Atlanta, Georgia and kept up his pharmacy business at home. He created such patent medicines as Globe flower Cough Syrup, Extract of Stillingia, Triple Liver Pills, Lemon & Orange Elixer, and French wine of Coca. The latter, being very similar to the "Vin Mariani" created by a private industrialist, Angelo Mariani, was inevitably the biggest seller. The "Vin Mariani" was a cocaine laced Bordeaux wine, popular throughout the world.4. French Wine of coca included cocaine as well as caffeine from the kola nut found in a tree from Africa. It was sold as a cure for nervous disorders, disturbances of internal plumbing and impotency.5. 1.www.goecities.com 2.www.sodafountain.com 3.www.tangaworld.com 4.www.geocities.com 5.www.stanford.com In November 1885, Pemberton decided to remove the wine and offer it as a syrup based medicine or a fountain drink, after Atlanta voted to become a dry city effective July 1886.6. He began experimenting. When he started out the overall taste was very bitter due to the caffeine and cocaine. He added a lot of sugar to cover these flavors, but that proved to make it a very sickening kind of sweet. TO counter-balance that he added various fruit flavors and citric acids. The final products ingredients included: 1 oz. Citric Caffeine, 1oz. Ext. Vanilla, 2 Â ½ oz. Flavoring, 4 oz. F.E. Coco, Caramel Sufficient, 3 oz. Citric Acid, 1 Qt. Lime Juice, 30 lbs. Sugar, & 2 Â ½ gal. Water. The flavoring was made of 80 Oil Orange, 120 Oil Lemon, 40 Oil Nutmeg, 1 Qt. Alcohol, 40 Oil Cinnamon, 20 Oil Coriander, & 40 Oil Neroli. The original directions were quite short and simple. They read as follows: Mix Caffeine Acid and Lime Juice 1 Qt. Boiling water add vanilla and ... ... cola in America.27. Coca-Cola eventually woke up and realized the mistake and threw out he new stuff and reintroduced the former recipe as Coca-Cola Classic.28. Even though this all seemed disastrous at first it was proved that the threat of taking the original recipe away was just what the company 26.www.sodafountin.com 27.www.tangaworld.com 28.www.geocities.com needed to boost it’s sales, and soon enough they flew past competition to regain their #1 spot once again. However, this marketing success can not be attributed to ingenuity, but to very good luck! It was not until after the crisis had passed that the company and the public as a whole realized just how much Coca-Cola was a part of everyone’s history. Children grew up with traditions of hot dogs, apple pie, base ball, and Coca-Cola. On the 18th of October, 1997 Roberto Goizueta died at the age of 65 from a long and hard fight with cancer.28. Currently, an ex-accountant who has been with the company for years has been appointed the new president. The company expects him to be another great success in the history of Coca-Cola.

Impact of Recent Changes in Capitalism on Social and Economic Status of Women

Introduction The history of women and their oppression has been well documented in literature. Several authors have explored the origin of women oppression. Women’s oppression has its roots in capitalism which has existed for many centuries (Stuart & Martin 1989). Their oppression is of course not unique to capitalism as it has been there since the colonial times and through the 19th century and 20th. However, over the past few decades, we have observed significant changes in capitalism which has impacted on the status of women. Many changes have been observed some of which are positive and others which take a more gloomy view. In this respect, this paper explores how the recent changes in capitalism have affected the social and economic status of women. In particular, the paper considers how post-Fordism and neoliberalism have altered women’s socio-economic position. Changes such as industrialization, urbanization, internationalization, globalization and modernization will be discu ssed in detail. The paper will examine how the concurrent cultural shifts have interacted with these socio-economic transformations and determine what the overall impact of these different factors has been. An exploration of this topic will be incomplete without examining the origin of capitalism and the rise of post fordism and neoliberalism. History of capitalism and crisis of fordism The origin of capitalism remains shrouded in the mists of history. Its exact birth date is speculated to be anywhere between the 14th century and the 17th century (Stuart & Martin 1989). Capitalism emerged from a feudal society and is linked to Europe’s economic system of the late 1700s (Price 2005). It is argued to have begun with the enclosure of common land used by peasants, and development of merchant capital and slave trade in western Europe (Price 2005). Rich landowners appropriated public land and made it their own private land, thereby creating a landless working class which provided the needed labour to develop industries (Harvey 1989). Fordism, a regime characterized by mass production, emerged in the early 20th century. It became dominant in the advanced capitalism during the postwar reconstruction. It was characterized by the mass production of homogenous consumer products, use of rigid technology, increased productivity, rising income which is dependent on product ivity, increased profitability and investments, and homogenization and intensification of labour (Clarke 1990). Fordism gave birth to the current phenomenon of ‘mass worker’. The fordist regime adopted a set of cultural norms and values which continued to oppress women. The regime supported the male breadwinner model where women were seen as mothers and house wives while men worked in paid labour (Castell 1996). Gender relations under this regime required women to work without pay while the male subject was remunerated. However, fordist regime had its limits which were technical, social and economic in nature. Technical limits were mainly the exhaustion and the intensification of labour (Clarke 1990). The economic limits included decrease in profitability which was a result of the rising wages and declining productivity. Social limits were related to the growing demands of mass worker. Post-fordism and neoliberalism Given the crisis of fordism, a new form of ‘post-fordist regime’ emerged which was characterized by the growing differentiation of products, new technologies, more flexible production methods, and greater skill and flexibility, and increased involvement of women in paid labour (Burrow & Loader 2003). Post-fordism emerged primarily due to three main driving forces: internationalization, technology revolution, and as a result of the paradigm shift from fordism to post-fordism (Broomhill 2001). Introduction of the welfare system and the rise of women movement in the post-fordist regime led to the abandonment of the male breadwinner model and women’s financial independence (Broomhill 2001). Several historical events have transformed the social landscape including technological revolution, demise of international communist movement and the collapse of Soviet statism (Castell 1996). Proliferation of technologies centred on information systems have reshaped the social la ndscape and accelerated the pace of development of the society. Moreover, the rise of globalization has led to a new form of relationship between states and economies (Castell 1996). All these changes have been driven and shaped by the neo-liberal thought. Neoliberalism has led to the increasing globalization, decentralization, de-regulation of the market, organizational restructuring, growth and consolidation of transnational corporations, and ‘free marketization’ which has reduced the old state and contractual controls (Acker 2004). Furthermore, new forms of flexibility in employment relations including part-time and online forms of working have emerged, changing the working environment. Post-fordism and neoliberal policies have resulted in the feminization of labour and made men and women both similar in the public sphere (Broomhill 2001). Impact on women’s economic and social status These changes in capitalism have had profound yet contradictory impact on the economic and social status of women. While it has to a large extent improved women’s socio-economic status by undermining older forms of male dominance, it has to some extent worsened their life conditions (Beck et al. 2001). On the positive side, post-Fordism and neoliberalism have altered women’s socio-economic position and disrupted the settled economies that supported patriarchy structures. Post-fordist relations of production have resulted in the inclusion of women in paid labour force. Neoliberal policies have increased flexibility in employment. These changes have changed the way women view themselves and challenged the patriarchic view of domination of women by the men (McRobbie 2008). And since domination essentially occurs through construction of reality, if the women subjects do not internalize patriarchalism, then its demise is just a matter of time. While some religion in some cou ntries, especially Islam, continue to re-state the sanctity of the patriarchal family, its disintegrations is evident in many countries. Women in many countries have joined the paid workforce and even conquered legal parity at work. However, their inclusion in the paid labour force does not necessarily imply that they were relieved of the burden of Partriachalism. It might be that despite working for pay, women still continue with their role of providing domestic and caring labour at home. Nonetheless, their liberation from oppression is clearly evident across the globe. The number of women in paid workforce has been increasing gradually over the years. Estimates indicate that women currently account for about 42% of the global workforce with majority of them employed in the health sector (75%) (WHO 2008). Not only has their economic status improved, their social status has improved as well. Women are increasingly being seen as equals to men including in politics where they were ess entially absent. The political system in many countries has opened up to female leadership. The participation of women in leadership positions and politics is clearly evident in the recent presidential elections in the US where Hillary Clinton contested against President Barack Obama. Many more women leaders have emerged all over the world with President Ellen Johnson Sirleaf of Liberia being the most popularly known in Africa, having won as the first ever female president in Africa. Others include the German chancellor Angela Merkel, President Cristina Fernandez of Argentina, Prime minister Sheikh Hasina of Bangladesh, President Dilma Rousseff of Brazil and many more (Aguirre et al. 2012). The list is certainly endless. In addition, the education system has become more open to the girl child including in fundamentalist countries such as Iran which have seen a growing number of women graduates (Castell 1996). The affirmation and recognition of women’s values, the growing wome n movements and critique of patriarchalism are some of the most important transformations that have contributed to the new status of women. Feminism As women movements continue to fight for their autonomy and recognition of women’s values, the more has feminism diversified. A new frontier has emerged based on the notion of ‘degendering’ of the society which implies a society free from gender associations or rather one that moves beyond gender (Murphy 2011). This new frontier in feminism has superseded the old battles that existed between equality feminism and difference feminism. By mobilizing women to oppose patriarchalism and to defend their rights, feminism has transformed to the point of canceling the distinction between men and women (Sulivan 2007). Men and women are now largely viewed as individuals with meaningful existence, liberating them from the patriarchic burden of responsibilities. This has certainly been very helpful in achieving a more equal society. Women’s role in the development of the economy is increasingly being recognized. Available evidence indicates women to be powerful drivers of economic growth. A study by the Center for Economic and Policy Research found the high rate of women employment to be the driving force of the US economy. The study found that, if women had not entered the workforce over the last 30 years, the economy would have been 11% less. Today, we see several institutions including the World Bank and the Department for International Development (DFID) campaigning for more involvement of women in economic development (Aguirre et al. 2012). According to the World Bank, encouraging the growth of women entrepreneurs is as sure way of fighting poverty. Women are poised to drive the global economy in the next coming decades. Estimates indicate that nearly 1 billion of women across the world might join paid labour over the coming decade (Aguirre et al. 2012). Criticism While there seems to be a progress in women’s socio-economic status driven by post-fordist relations and the neoliberal policies pursued by the several states, some countries continue to follow partriarchalism. Despite its inevitable demise, some countries tend to still follow partriarchal lines which subordinate women under men’s dominance. A good example can be seen with Saudi Arabia. A woman’s place in Saudi Arabia is still in the home. Saudi women continue to walk in the shadow of their men. For example, despite their obvious presence, they are not allowed to participate in the public sphere (Hamdan 2005). They are viewed as non-existing in the public sphere and are silenced in public life. They continue to be subordinated to male individuals in both private and public sectors despite their qualifications. While a progress seems to have been made with respect to their education, at the core of women’s education is sex segregation. Education in Saudi co ntinues to support the prevailing gender structures, implying lower social status of Saudi women (Hamdan 2005). Perhaps more shocking news is the fact that Saudi Women are not allowed to drive. While religious reasons are generally given for denying women the right to drive, it is clear that their place is still in the home. Also, even though many women have progressed economically due to their inclusion in workforce, only a few of them work in the management positions. In spite of the increasing number of women in workplace, many of them are concentrated in the lower-status occupations. For example, while the health sector comprise of 75% of the women workforce, they are concentrated n the lower status working either as nurses and midwifery personnel or as ‘caring’ cadres (WHO 2008). They are largely underrepresented at the managerial level and specialist categories such as dentists, pharmacists, and physicians. Feminist critique of sexism seems to have given justifica tion to new forms of exploitation and oppression. With more women joining the paid workforce, the ‘family wage’ model central to state-organized capitalism which viewed men as the ‘breadwinners’ and women as ‘home makers’ has now been replaced by the newer, more modern norm of ‘two-earner’ family (Fraser 2013). While this may sound like good news, the reality is that post-fordism and neoliberal ideas have resulted in depressed wage levels, increased job insecurity, exacerbation of double shifts and the increase in the number of working hours (Fraser 2013). What was once the ‘family wage’ in capitalism has now been replaced by a low-waged work. Majority of their work has not really brought liberation rather a ‘tedious reality’ far from the perceived image of a working woman (Frank 1999). They remain relegated to lower positions at work. Even with many women being employed either in full or part-time positio ns, they are not getting to the ‘top’. Also, where their role is clearly evident, women continue to suffer from some level of hostility and public disapproval. For example, when it comes to journalism, women have proved flexible and able to forge new approaches. Their adaptability to new approaches is clearly evident with their news coverage of the September 11 events, the overthrow of Taliban forces and the bombing of Afghanistan (Chambers 2004). Women journalists developed different angles in their approach to war journalism, thereby attracting more news audiences. Yet despite the critical role that they played, a heated public debate emerged about the risks of reporting in war zones. It is clear that despite their liberation from oppression, women are still defined in terms of men. As wives and mothers, women clearly continue to suffer from some level of hostility and public disapproval that men with families do not ( Chambers 2004 p.13) In addition, some recent even ts have pointed to the renewed crisis of capitalism. There is currently a crisis of profitability which is facing capitalism. The profit rates are falling and many firms have been laying off workers. British capitalism is particularly in a crisis given its relatively weak position compared to other imperialist nations (FRFI 2013). The current focus on the growth of the private sector implies that priority has been placed on industrial development over social objectives. Workers wages have been cut to a massive extent and unemployment seems to be growing. Given this crisis, capitalism is now insisting on women returning to their traditional roles as domestic workers (FRFI 2013). Neoliberal ideas contributing to sexism While the recent changes experienced by capitalism seem to have contributed to the recognition of women as gender equals, recent developments continue to enact sexism. For example, many advertisements of today show nude pictures of women. What this means is that the male gaze is invited and encouraged as women continue to become objects of the gaze. Moreover, many clubs continue to feature young women stripping, lap-dancing and flashing out their breasts in public (McRobbie 2009). A hyper-culture of commercial sexuality seem to be growing, an aspect that is clearly a repudiation of feminism. Even the young women journalists who through their education are ‘gender aware’ refuse to condemn such acts of commercial sexuality. It seems like the new female Subject is called upon by the society to withhold critique and to remain silent despite her freedom. Consumer and popular culture seem to be introducing invidious forms of gender re-stabilization by pretending to support fem ale success yet tying the female subject to new post-feminist neurotic dependencies (McRobbie 2009). In order to be considered a modern sophisticated girl, the female subjects choose to withhold their critique despite their obvious image as sexual objects of men’s gaze. With the progress seen with women’s socio-economic status, one might think that the feminists are happy to see the things they fought so hard to have come true. However, what has emerged is different from what was desired (Cornwall et al 2008). Neoliberal values seem to have created space under which women can be further oppressed and their core values undermined. The culture of neoliberalism has led to the idea of self-sufficiency and free choice. All that one has to do is to compete in the market place. Some women have even gone to great lengths to make themselves acceptable to the world of work by performing cosmetic surgery under the illusion of having freedom choice to make their own decisions (Gup ta 2012). Yet some of their work goes against their core values. Many women have ventured into the sex industry under the illusion of having control over their lives. They have chosen this kind of work in the spirit of freedom of expression of their sexuality and believe that the work is liberation from the drudgery of cleaning jobs (Gupta 2012). However, the so called freedom of expression is actually reducing them to the status of ‘commodity’ and as objects of ‘men gaze’. Feminism which once fought for the liberation of women from oppression has become entangled in a dangerous liaison with neoliberal efforts to build a free market society (Fraser 2013). It has led to the notion of ‘freedom of choice’ which ultimately has given rise to prostitution. Feminists’ perspective on prostitution, however, is an interesting one. Feminists argue that prostitutes are social workers and have in fact used their social concepts to contend for decrimi nalization of prostitution (Sullivan 2007). Feminists have formed strong links with prostitutes resulting in advances in the area of prostitution law reform. The feminist position of the sex industry is one that empowers women as long as they choose to participate. But what is progressive about women’s participation in prostitutionCan women really progress by becoming sexual objects and objects of male gazeWhat is revolutionary about legalizing prostitutionIn fact, legalizing prostitution just makes women to become sexual commodities. The fight against sexism that has long been fought for by feminists seems to have ended up again to encouraging it. The progress in women that we have seen so far will not continue if women continue to follow neoliberal ideology that values individual ‘choice’ and ‘freedom’ over emancipation. Selling their bodies will not provide them with independence and empowerment that they seek but rather it will just reinforce mal e power and privilege. Trafficking of women and children Further, neoliberal ideology has led to the growing trafficking of women and children. This is particularly evident in Asia and the pacific region where human trafficking has grown to become a booming business. Millions of children in the pacific region are traded to work in brothels or sweatshops. Human trafficking has not grown by accident but as a result of free trade and structural adjustments brought about by neo-liberalism. Sex trafficking is currently a growing market in some parts of Eastern Europe, most notably Romania and Albania (FRFI 2013) Conclusion There is no doubt that the socio-economic status of women has improved following the recent changes in capitalism. This is evident in their inclusion in the paid workforce, their enrollment in eductation and increased participation in the public sphere including in politics. However, to some extent, these changes have painted a gloomy picture with regard to the status of women. A vast majority of them continue to occupy positions at the low levels of the organization. Also they continue to suffer from some level of hostility and public disapproval. Neoliberal ideology has led to their increasing commodification and increased trafficking of women and children. A hyper-culture of commercial sexuality seem to be growing, an aspect that is clearly a repudiation of feminism. Nonetheless, a huge progress has been made. Today, there are many successful women in the capitalist society. In fact, many women seem to have embraced the capitalism and showed support of it due to their improved soc ial and economic status. If their status is to be further improved in post-fordist employment, policy initiatives must address the issues of women’s employment, skills and training (Burrows & Loader 2003). Furthermore, there is need for public policy to challenge the polarized labour market that has emerged from post-fordism. Neo-liberal policies which support the development of a polarized market are socially divisive. Also, feminist scholars need to caution Women against prostitution. Selling their bodies will not provide them with independence and empowerment that they seek but rather it will just reinforce male power and privilege Reference Acker, J., 2004. ‘Gender, capitalism and globalization’. Critical Sociology, vol. 30 (1), pp.17-41 Aguirre, D., Hoteit, L., Rupp, C. and Sabbagh, K., 2012. 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