The Dramatic Endings in The Playboy of Seville and Don Juan Tenorio Essay

The Dramatic Endings in The Playboy of Seville and Don Juan Tenorio - Essay Example Notwithstanding that reality that the two plays are developed on a comparable establishment of topics, there are as yet many significant contrasts between them which can be because of the way that both were written in totally different occasions. Social shows and social standards turned out to be very extraordinary in the nineteenth century than how they were in the seventeenth century. Long periods of distinction changed cultural structures the world over, however they additionally altogether affected the state of writing. Following conversation will investigate how the completion scenes in the two plays are not the same as one another and how those distinctions toward the finish of the plays reflect various perspectives of the two social orders towards the character of DJ. In the mid seventeenth century when the Playboy of Seville by Tirso de Molina appeared in the realm of writing, the manner in which DJ is investigated in the story is proposed to think about the Spanish Golden Age which was the early current Spanish society. The play is set in this timespan and complies with the mainstream social, strict, and social shows of that time. This is the reason as opposed to the nineteenth century rendition of Zorrilla, Tirso de Molina’s play is firmly Catholic. It is the amazing contrast between the idea of these two periods that there is such distinction to be found in the plays likewise especially in setting of their consummation scenes. The mid seventeenth century variant spotlights on the connection among activities and their results, while the cutting edge rendition seems to scrutinize the Christian way of thinking identified with activities and their belongings. The later form has an alternate consummation from that in the first play since ess ayists of that time quit wanting to remain carefully faithful to the Catholic way of thinking. Religion was starting to get dynamic by then as an ever increasing number of individuals started to scrutinize its legitimacy in specific issues throughout everyday life. In bygone eras like in the mid seventeenth century carefully

Physical Security risk Assessment Coursework Example | Topics and Well Written Essays - 1500 words

Physical Security hazard Assessment - Coursework Example se, the lives and wellbeing of individuals is consistently in question particularly in social and recreational spots like in arenas, shopping centers, and different spots related with huge hordes of individuals. Psychological militant dangers are genuine and hence security as to the referenced spots ought to and must be maintained no matter what. In numerous events high obstruction materials with ability to oppose slugs and different explosives have been utilized to solidly shield significant form structures. Further, streets and boulevards prompting and from these structure are blockaded to guarantee diverted and controlled section (National Institute of Building Sciences, 2012). This segment is devoted to talking about the solidifying necessities for the BC Place Stadium during the Olympic Games. Building an edge divider around the BC Place Stadium is the above all else physical safety effort that stadia physical security the executives board should set up. The good ways from this edge divider to the stadia ought to in any event be 200 meters; this, in its own privilege is solidifying enough to oppose an impact. As needs be, the border divider ought to be constructed utilizing high obstruction materials and thickened to make it hard if certainly feasible for interruption and breaking in. In a similar line of contention, assembling an edge divider will guarantee that unapproved and malignant vehicles with sick expectation don't have any simple access to the arena. The divider ought to likewise have concrete or steel hindrances to oppose assaults from substantial trucks that may be stacked with explosives. This is additionally basic for constrained passage obstruction (National Institute of Building Sciences, 2012). Setting up boundaries especially at the combination focuses is another measure that must be mulled over; in spite of the fact that it is exorbitant however it is indispensable for the wellbeing of the majority that would go to the arena. Setting up a low boundary marginally away from the stadia will give satisfactory security while likewise not interrupting the visitor’s protection. For

Human resources management Essay Example | Topics and Well Written Essays - 750 words - 4

HR the board - Essay Example For example, one of the consequences of this crumbling is that Personnel Function is handicapped to practice thorough examination, which means clear objective setting and assessment of the faculty. As it were, it has no impact on the socialization of their newcomers and current representatives; along these lines, it is unfit to see their improvement, comprehend their essential desires, and explain their capacities on the work environment. To put it plainly, the absence of systematization in staff enrollment is among the primary difficulties for Personnel Function. In this way, the fate of this body is obscuring, since its incapability turns out to be increasingly apparent. To put it plainly, Personnel Function is marginally answerable for HR the executives even now, and will in general lose much more opportunity later on In the momentary period, the nonappearance the executives is the subject of worry in Valleyway. In this specific situation, there is a need to give this sort of the executives regarding both grasping the social structure of representatives (age, sexual orientation, family conditions) and making good employment circumstance (group building, duty, and work turn). Actually, current issues in nonappearance the board is difficult to recognize, on the grounds that Personnel Function has insufficient data on the company’s representatives. Every sexual orientation and age has various reasons of nonattendance; therefore, Personnel Function must know in insight concerning everyone’s day to day environments in Valleyway. Another momentary measure is to give 360-degree examination held by Personnel Function, which means the open conversation for all the representatives with peer checking on, presenting open culture and common duty in the organization, and basic assessment of own accomplishments on the working environment. In this gathering, it is urgent not exclusively to know better the company’s staff yet in addition to verbalize corporate objectives and desire with away from of everyone’s interest in them. Also, the viability of

Workplace Project Action Plan Free Essays

The motivation behind the work environment task (and this course) is to build up a familiarity with the wellbeing abberations and the boundaries powerless populaces face/suffer in looking for and getting medicinal services and accomplishing health. The center is the hindrances introduced by the medicinal services suppliers. Your introduction needs to address those boundaries by giving data/instruction focused towards changing their biased discernments or predisposition of a particular helpless populace to impact a positive change in human services conveyance/mediation later on. We will compose a custom exposition test on Work environment Project Action Plan or then again any comparative point just for you Request Now Your activity plan should express your goal of your instructive mediation and depict what you will do to accomplish that objective. This incorporates the sort, assuming any, sound/visual guide, or an instructing plan. Attempt to be as explicit as could be expected under the circumstances. Powerless populace: Elderly Goal of your showing activity: What are you going to instruct to your staff? Boundaries the older face getting to human services after release. For what reason would you say you are tending to this specific populace? Our unit deals with fundamentally older patients. What are the obstructions this populace faces: What is your staff’s boundaries/predisposition toward this populace? Work environment Project Action Plan: Toni R. Wrench If you don't mind USE THIS FORM FOR YOUR ACTION PLAN The reason for the work environment venture (and this course) is to build up an attention to the wellbeing differences and the obstructions powerless populaces face/suffer in looking for and acquiring social insurance and accomplishing health. The center is the hindrances introduced by the human services suppliers. Your introduction needs to address those boundaries by giving data/training focused towards changing their biased discernments or inclination of a particular defenseless populace to impact a positive change in human services conveyance/mediation later on. Your activity plan should express your target of your instructive intercession and portray what you will do to accomplish that objective. This incorporates the sort, assuming any, sound/visual guide, or an instructing plan. Attempt to be as explicit as could be expected under the circumstances. Defenseless populace: Elderly Target of your showing activity: What are you going to educate to your staff? Obstructions the old face getting to human services after release. For what reason would you say you are tending to this specific populace? Our unit deals with for the most part older patients. What are the boundaries this populace faces: What is your staff’s obstructions/inclination toward this populace? The staff’s hindrances or inclinations to this populace are basically presumption that they have family/companions upon release home to help them. Additionally, I don't feel that the staff evaluates their release needs as altogether as they should. What sound/media device do you plan to utilize? Leaflet What three ideas from this course do you intend to fuse in your introduction? The ideas I will consolidate are helplessness, Watson’s Theory of Caring, and appraisal instruments. If you don't mind recollect the focal point of this task is to beaten any current inclination or biased recognitions your staff may have toward this populace with an end goal to improve the wellbeing results of this populace. . What sound/media device do you mean to utilize? Handout What three ideas from this course do you intend to join in your introduction? The ideas I will consolidate are helplessness, Watson’s Theory of Caring, and appraisal apparatuses. If you don't mind recollect the focal point of this task is to beaten any current inclination or biased discernments your staff may have toward this populace with an end goal to improve the healthâ outcomes of this populace. Instructions to refer to Workplace Project Action Plan, Papers Work environment Project Action Plan Free Essays If you don't mind USE THIS FORM FOR YOUR ACTION PLAN The reason for the working environment venture (and this course) is to build up a familiarity with the wellbeing variations and the obstructions helpless populaces face/suffer in looking for and getting human services and accomplishing health. The center is the boundaries introduced by the social insurance suppliers. Your introduction needs to address those boundaries by giving data/training focused towards changing their biased recognitions or predisposition of a particular powerless populace to impact a positive change in human services conveyance/mediation later on. We will compose a custom article test on Work environment Project Action Plan or on the other hand any comparable subject just for you Request Now Your activity plan should express your target of your instructive intercession and depict what you will do to accomplish that objective. This incorporates the sort, assuming any, sound/visual guide, or an instructing plan. Attempt to be as explicit as could be expected under the circumstances. Defenseless populace: Elderly Target of your showing activity: What are you going to educate to your staff? Hindrances the older face getting to medicinal services after release. For what reason would you say you are tending to this specific populace? Our unit deals with basically old patients. What are the obstructions this populace faces: What is your staff’s hindrances/predisposition toward this populace? Working environment Project Action Plan: Toni R. Wrench It would be ideal if you USE THIS FORM FOR YOUR ACTION PLAN The motivation behind the working environment task (and this course) is to build up a familiarity with the wellbeing differences and the hindrances powerless populaces face/suffer in looking for and getting medicinal services and accomplishing health. The center is the obstructions introduced by the medicinal services suppliers. Your introduction needs to address those boundaries by giving data/training focused towards changing their biased recognitions or inclination of a particular helpless populace to impact a positive change in medicinal services conveyance/mediation later on. Your activity planâ should express your target of your instructive intercession and portray what you will do to accomplish that objective. This incorporates the sort, assuming any, sound/visual guide, or an instructing plan. Attempt to be as explicit as could be expected under the circumstances. Defenseless populace: Elderly Target of your showing activity: What are you going to educate to your staff? Hindrances the old face getting to human services after release. For what reason would you say you are tending to this specific populace? Our unit deals with for the most part older patients. What are the hindrances this populace faces: What is your staff’s obstructions/predisposition toward this populace? The staff’s boundaries or inclinations to this populace are fundamentally presumption that they have family/companions upon release home to help them. Additionally, I don't feel that the staff surveys their release needs as altogether as they should. What sound/media device do you plan to utilize? Leaflet What three ideas from this course do you intend to fuse in your introduction? The ideas I will join are helplessness, Watson’s Theory of Caring, and appraisal devices. If it's not too much trouble recall the focal point of this task is to beaten any current inclination or biased discernments your staff may have toward this populace with an end goal to improve the wellbeing results of this populace. . What sound/media device do you mean to utilize? Pamphlet What three ideas from this course do you intend to consolidate in your introduction? The ideas I will consolidate are defenselessness, Watson’s Theory of Caring, and appraisal devices. If it's not too much trouble recall the focal point of this task is to conquered any current inclination or biased recognitions your staff may have toward this populace with an end goal to improve the wellbeing results of this populace. Step by step instructions to refer to Workplace Project Action Plan, Papers

G.C.S.E. English Coursework Macbeth Essay

Task title: (5) Å"Fair is foul and foul is fair . Show how this picture repeats and creates through the play. All through the catastrophe, the subject entitled Å"fair is foul and foul is fair , is critical to the plays achievement and performance, as it both repeats and creates as the play proceeds. The fore referenced words are utilized by and against the key characters in the play, as Shakespeare utilizes his language to depict the subject and characters. The witches are key in playing out the appearance versus reality topic. This significant subject is first welcomed on in the primary scene of the play, with the creepy, upsetting, oxymoronic section finishing in Å"Hover through the haze and messy air , which clarifies Shakespeares expectations for the plot and more profound representations and echoes through to act five. The obtrusive opener is a lot of like the paradoxical expression of I.3, Å"lesser than Macbeth, and greater , which seems inconceivable, however sets the later scenes where Banquo meets his end; in light of the fact that Banquo is lesser when he bites the dust, yet will be more noteworthy in light of his fabulous dedication to great, and he Å"shalt get kings , indicating Shakespeares want to dazzle James I, the conceivable seed of Banquo, in his theater. Unmistakably, by Hecats rhyming discourse in III.5, Å"strength of their illusion , that the savages entire reason and technique is to mislead individuals like the educated Macbeth by circumstances seeming to mean certain things, however in all actuality meaning something very surprising. This cunning trademark is additionally shown by the phantoms: the third genuine or hallucinative allegory, Å"Be lion-mettled , tells Macbeth of the apparently incomprehensible move of Å"Birnan Wood the high Dunsinane Hill  that they talk about i s the main manner by which to execute Macbeth, and the English get the wood as a straightforward, acknowledged yet destructive significant fight strategy. The virtuoso dramatist shows inconspicuously and splendidly the guiltless showing up kid holding a tree, providing the riveted principle character some insight into the unexpected turns of events. The obscure implications alongside the ever-present embodiment, Å"Who chaves, who frets , would energize the crowd and give amazing diversion. Additionally in the spirit scene, it appears that the Å"masters  are thought by Macbeth to disclose to him pleasant news, yet in reality they bring the offensive kind after the rhyming first head, Å"beware Macduff! Excuse me, enough. , has considered the heartbreaking legend in this ordinarily delightful story, however what Macbeth cannot deny is that that the thing the ridiculous youngster said about his destiny Å"none of lady conceived will hurt Macbeth , which sends Shakespeare into his ride into the mists fusing the standard expound illustrations, Å"a obligation of fate , Å"sleep disregarding thunder  when the fantastical plot of Macduffs C esarean segment sees Macduff as the one with the forces, when he in the end murders the absolutely trusting Macbeth. Shakespeare builds up the character of Macbeth as an investigation of the extraordinary when what appears to be a useless speculation by three old witches, Å"This otherworldly soliciting , turns out, not exclusively to be valid, yet suspiciously veracious in Macbeths mind from the exceptionally off, when even he doesn't know whether it is reasonable or foul, Å"cannot be acceptable, can't be ill , in his oxymoronic assessment of the expressions of the witches heretofore, making sensational Irony. Banquo is the balance of this with his resolute honorableness, Å"to double-crosses in most profound consequence. , however the malevolent forecasts end up being valid in Shakespeares optimistic plot, (to follow James Is sees in his book, demonology) as the devils drive him to the highs of government and right down once more. The talks of Macbeth furnish us with incredible knowledge into this all around created subject. He straightforwardly concedes he himself is playing out his own reasonable/foul deeds, Å"Hes here in twofold trust , as what is by all accounts a blowout for Kind Duncan, ends up being his own homicide as Macbeth depicts the prophetically calamitous symbolism, Å"tears will suffocate the wind , which he finds later on, after his ambiguous change from polysyllabic to monosyllabic words, Å"Commends the ingredience , Å"naked new-conceived babe , where Shakespeare can't conclude whether to be actually eminent or to focus on his plot and echoes. This is grown again by the Ëœpoet in the following demonstration when it proceeds onward from the basic, beguiling demonstration of unfairness, to mask of shrewdness, concealing genuine nature, Å"Nature appears dead , where the noxiousness is embodied and Å"Tarquins bewitching strides  cover the apparently unstoppable the compelling force of nature into the ground, as the crowd are whiteness to the scene as a predicament when Macbeth transforms into the debased, underhanded side of him. Macbeth is so riveted at the nebulous visions scene that he keeps on utilizing his idyllic permit to incredible impact as, in any event, when he is stunned, he keeps on adjusting the two contrary energies while utilizing similar sounding word usage to its fullest, Å"blood-boltered Banquo . He proceeds in precisely the same perspective in the accompanying pages, as Shakespeare creates Macbeth as an emphatic, yet effortlessly convinced character, when the minor Lennox gets a similar consideration as the rest none Å"The mansion of Macduff I will surprise , as he contemplates on the best way to slaughter the dreaded Macduff: Ironic in light of the fact that he holds the conclusion that Macduff is foul, despite the fact that he is reasonable and he accepts the witches talk decently, however their expectations are extremely foul. Much like in IV.1, Macbeth plays out a speech in his troubled perspective while Seyton is available, in V.1. The topic is significantly more evolved here where the philosophical Shakespeare tells his presently hypnotized crowd that Å"Lifes however a mobile shadow , showing Macbeths melancholy, trailed by his figurative, adverse depiction, Å"Struts and frets , of a thing that is thought of as ethical by most of individuals. This comes after the purported Ëœbad updates on his wifes passing, yet he assumes that a foul thing like that appears to be very reasonable, Å"She ought to have kicked the bucket hereafter , despite the fact that he shows up as the other, thoughtful portion of himself, Å"find her disease , before again evolving demeanor, Å"Would scour these English hence , where he egotistical like focuses all alone, delicate predetermination, as Shakespeare messes about and clutters the character of Macbeth. Woman Macbeth is a brilliant case of the reasonable/foul topic. She is a woman and is believed to be a sort, adoring and genteel, yet her sensational, alliterative passageway in I.5, Å"And take my milk for nerve, you killing ministers , is the genuine Lady Macbeth, while the play compose demonstrates magnificently how she is appearing to be reasonable before visitors, Å"Look to the lady , however in truth she is the genuine antagonist of the play, tormenting the crowd and each ones guiltless obliviousness of ladies. The subject is to some degree turned around towards the finish of the content since Shakespeare with his debased reiteration, Å"To bed, to bed, to bed  has not made Lady Macbeth such a foe to his captivated crowd, that they cant truly feel sorry a little for her ailment, Å"This malady is past my practice , as she turns out to be all the more reasonable in the shuffled finish of the play. The spouse of Macbeth likewise shows up un-harming, silly and pitiless, before we see the beginning of her all the more reasonable side in II.2, Å"Had he not resembled ¦ I had donet , as the essayist prods the crowd with his confounding, turning plot and monosyllabic exchanges. She rehashes an increasingly weak side of herself in a progressively unpredictable manner as the play creates, Å"dwell in far fetched joy , and she turns into a more vulnerable character. Her commitments to the reasonable foul/foul subject change as she gradually turns out to be to a lesser extent a lowlife, yet her hold on her significant other gets a lot more fragile, Å"Be blameless of the information dearest chuck , as he turns out to be a greater amount of the shrewd one, while proceeding to utilize oxymoronic representation, Å"Light thickens , in light of the fact that previously, he was seeming to be simply duplicity proposed by the witches, Å"In their most current gloss , where the woman assaults Macbeths manliness, Å"then you were a man , however in the second and third homicides, a fearless man being brought somewhere around the witches. Woman Macbeth is additionally an extraordinary devotee to the topic as a mask for the couples activities, Å"Look like the blameless blossom, yet be the snake undert , as the incredible, malicious brain of the woman, grew at an early stage in the play, plots to execute the lord. She and him both display their prior aims a fter the homicide, Å"outrun the pauser reason , and Å"What, in our house , when reasonably the expectations by the witches to be strict and a reason to pick up power, yet the terrible acting would flaunt Shakespeares ability of delivering emotional incongruity, disappointment and redundancy to show ladies as being irrelevant, Å"O Banquo, Banquo! Our illustrious bosses murdered , which he does all through the play. In the homicide of Duncan, Lady Macbeth has a significant job, as her contentious side is obvious. This is so in light of the fact that she is taking the forecasts by the witches to be exacting and a reason to pick up power, yet the knowledgeable Macbeth sees the foul double dealing by the witches, Å"In their most current gloss , where the woman assaults Macbeths manliness, Å"then you were a man , yet in the second and third homicides the she has no contribution. He excuses her with his over staggering ironic expression, Å"restless ecstasy , and alliterative illustrations, Å"lifes erratic fever , so Shakespeare can flaunt to James I. The pipedreams of especially Macbeth show the appearance versus reality topic in light of the fact that the items show up, however are not reality. The knife, all around depicted by certain creations as a shadow, is the first occasion when that Macbeth starts to fantasize. His riveted, overwhelmed perspective is skilfully appeared by Shakespeare to f urnish us with prophetically calamitous symbolism represented, Å"fatal vision , and the idea that a Å"false creation  could transform an apparently reasonable destiny into such a foul closure. At the point when the violence become a reality, Å"the cry of women , Å"Untimely ripped , and Macbeth meets his

Some Notes

Some Notes Today is the first day of final exam week at MIT. [read more: schedule] 800+ students alums came to Kresge Auditorium last night to watch Randal Pinkett PhD 01 win the TV show The Apprentice. [read more: MITAA, Melis] ESPN.coms Page 2 mocks MITs football team [read more: Page 2] while the mens basketball team heads into the break with a 7-1 record [read more: MITAthletics] So, Summer got a 2300 on her SATs. In the fictional world of The OC, colleges might have quotas for particular high schools, but at MIT we admit the best students, regardless of who else is applying from a particular school. Dressing like a pirate, though, does earn you bonus points. [read more: TWoP] Marilee was quoted in a recent Bloomberg News article on stress college admissions [read more: Bloomberg] The latest Harvard Business Review has a neat interview with Prof. Henry Jenkins about video games and the workplace. [read more: HBR] Taiwans Quanta Computer Inc will manufacture the $100 Laptop. [read more: Slashdot, Taipei Times] The New York Times has an article on the length of the new SAT. Some students and counselors think it is too long. What do you think? [read more: NYTimes] Update for deferred students coming tomorrow. [read more: tomorrow]

Why Investors Invest In Hedge Funds - Free Essay Example

Abstract Hedge funds have gained a lot of popularity in the last decade and are one of the fastest growing industries. The main aim of most hedge funds is to reduce volatility and risk. It also attempts to preserve capital and deliver positive returns under all market conditions. Not all hedge funds are same therefore it is important to know the difference between them. It differs in terms of its risks,  investment returns and volatility among the different hedge fund strategies. The strategies which are correlated to equity markets deliver consistent returns and have low risk while the ones that are not will be more volatile. Main objective of hedge funds is to provide consistency in its returns for investor, lower portfolio volatility and preserve their capital investments, which is the reason why investors such as pension funds, insurance companies, institutional investors and high net worth individuals and families invest in hedge funds. This thesis reviews various issues relating to the investment in hedge funds, which have become popular with high net-worth individuals and institutional investors, as well as discuss their empirical risk and return profiles. The concerns regarding the empirical measurements are highlighted, and meaningful analy tical methods are proposed to provide greater risk transparency in performance reporting. It also discusses the development of the hedge fund industry in Asia. Asian hedge funds have grown vastly in past few years. It is said to have grown nearly six times as many funds while managing ten times are much in assets since 2000 according to Eurekahedge. The industry is estimated to consist over 1100 funds, and managing roughly $175 billion in assets. International managers are starting up their own Asia-focused funds too. Allocators are increasingly eyeing investment opportunities in Asia. Funds with a global mandate are increasing their allocation to Asia. The paper presents an overview of hedge funds, describing their development and characteristics. It also discussed the various issues related to the measurement of hedge fund performance, as well as examined alternative performance measures. This thesis ends with some remarks on the development of the hedge fund industry in Asi a. 1. Introduction There has several definition of hedge funds throughout the history. There isnà ¢Ã¢â€š ¬Ã¢â€ž ¢t one particular sentence that defines what hedge funds really means. However, according to Chicago Board Options Exchange (No Date), hedge funds can be defined as: à ¢Ã¢â€š ¬Ã…“A conservative strategy used to limit investment loss by effecting a transaction that offsets an existing position.à ¢Ã¢â€š ¬? Alfred Winslow Jones was the first person to create hedge fund structure more than 50 years ago. The fund established had following feature: He created à ¢Ã¢â€š ¬Ã…“hedgesà ¢Ã¢â€š ¬? by investing in securities that was said to be undervalued and funded these positions by taking short positions in overvalued securities hence creating à ¢Ã¢â€š ¬Ã…“market-neutralà ¢Ã¢â€š ¬? position. He designed an incentive fee compensation arrangement for fund mangers. They were paid a percentage of profit from the clients capital assets; and He so invested his own investment capital in the fund, to make sure that his capital and that of his investors were coordinated and in line so that it is not just an individual investment but a partnership Almost all modern hedge funds have above listed features in them, and are set up as limited partnerships with a lucrative incentive-fee structure. In most hedge funds, managers also have a significant portion of their own capital invested in the partnerships. The term à ¢Ã¢â€š ¬Ã…“hedge fundà ¢Ã¢â€š ¬? has been generalized to describe investment strategies that range from the original à ¢Ã¢â€š ¬Ã…“market-neutralà ¢Ã¢â€š ¬? style of Jones to many other strategies and opportunistic situations, including global/macro investing. There is a large variety of hedge fund investing strategies present today and therefore no standard way to classify hedge funds separately. Many data vendors and fund advisors set up their own major hedge fund styles according to their popularity. Under the classification by Credit Suis se, the categories of hedge funds with 9 differentiated styles and a fund-of-funds category: (a) Event driven funds are the funds that take positions on corporate events when companies are undergoing re-structuring or mergers. For example, fund managers would purchase bank debt or high yield corporate bonds of companies undergoing the re-organization which is often referred to as distressed securities. Another event-driven strategy is merger arbitrage where the funds seize the opportunity to invest just after a takeover has been announced. They purchase the shares of the target companies and then short these shares of the acquiring companies. (b) Global funds are categories of funds that invest in non-US stocks and bonds with no specific strategy reference. This fund has the largest number of hedge funds and it includes funds that specialize on the emerging markets. (c) Global/Macro funds are the funds that rely on macroeconomic analysis and invest in long and short positio n in order to capitalise on major risk factors and unforeseen markets such as currencies, interest rates, stock indices and commodities. (d) Market neutral funds refer to hedge fund strategy that involves utilizing strategies such as long-short equity, stock index arbitrage, convertible bond arbitrage and fixed income arbitrage. Long-short equity funds use the strategy of Jones by taking long positions in selective stocks and going short on other stocks to limit their exposure to the stock market. Stock index arbitrage funds trade on the spread between index futures contracts and the underlying basket of equities. (e)Dedicated Short Bias  funds are strategies that take more short positions than long positions and earn returns by maintaining net short exposure in long and short equities. Detailed individual company research typically forms the core alpha generation driver of dedicated short bias managers, and a focus on companies with weak cash flow generation is common. To affect the short sale, the manager borrows the stock from a counter-party and sells it in the market. Short positions are sometimes implemented by selling forward. Risk management consists of offsetting long positions and stop-loss strategies. (f)Convertible bond arbitrage funds typically capitalize on the embedded option in these bonds by purchasing them and shorting the equities. (g)Fixed income arbitrage is a strategy that bets on the convergence of prices of bonds from the same issuer but with different maturities over time. This is the second largest grouping of hedge funds after the Global category. (h) Short/long fund-, shorts focus on engineering short positions in stocks with or without matching long positions. They play on markets that have raised too fast and on mean reversion strategies. Long funds take long equity positions with leverage. Emerging market funds that do not have short-selling opportunities also fall under this category. (i)Emerging Mark ets  funds invest in currencies, debt instruments, equities and other instruments of countries with à ¢Ã¢â€š ¬Ã…“emergingà ¢Ã¢â€š ¬? or developing markets (typically measured by GDP per capita). Such countries are considered to be in a transitional phase between developing and developed status. Examples of emerging markets include China, India, Latin America, much of Southeast Asia, parts of Eastern Europe, and parts of Africa. There are a number of sub-sectors, including arbitrage, credit and event driven, fixed income bias, and equity bias. (j) Fund of funds refer to funds that invests in a pool of hedge funds. They specialize in identifying fund managers with good performance and rely on their good industry relationships to gain entry into hedge funds with good track records. Table 1 gives statistics about the various categories of hedge funds and past performance. The global/macro hedge funds provided the best mean return over the period studied, while the event -driven funds had the lowest standard deviation of returns. On a risk adjusted basis which is obtained by dividing the mean return by the standard deviation, the category of fund that ranks highest is the global/macro funds followed closely by event-driven funds. Hedge funds are not required to publicly disclose performance and holdings information unlike the registered insurance companies, which might be construed as solicitation materials. This is the reason why which makes it more difficult for investors to evaluate hedge fund managers. TABLE 1 Jan 2000 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Nov 2009 Categories Mean Return (%) Standard Deviation (%) Risk-Adjusted Return Event driven 8.66 5.44 1.60 Global 6.60 6.23 1.06 Global / Macro 12.28 6.07 2.02 Market neutral 2.09 13.48 0.16 Short/Long 5.50 8.88 0.62 Emerging Market 9.23 11.05 0.84 Convertible Arbitrage 6.98 8.34 0.84 Dedicated Short Bias (1.95) 16.40 (0.12) Fixed Income Arbitrage 3.66 6.81 0.54 Source: Credit Suisse/ Tremont hedge index Notes: The mean returns are annually compounded returns over the period 2000 to November 2009, The annualized standard deviations were computed from of the standard deviation of monthly returns for each investment style. Risk-adjusted returns are obtained by dividing the mean return by the standard deviation. In 1990 the entire hedge fund industry was estimated at $20 billion. At the end of 2008, global hedge fund industry was estimated to be worth $1 trillion with 8350 active funds. It ha s gained a lot of popularity in the last decade and is one of the fastest growing industries. While hedge funds are well established in US and Europe, they have also been growing rapidly in Asia. Hedge funds have posted attractive returns. A seven year annualised return of 2.47% posted by Hedge Fund Research (HFR) from 2003 to 2009, higher than the SP 1200 of 1.18%. Hedge funds are seen as natural hedge to control downside risk because they employ investment strategies believed to generate returns that are uncorrelated to traditional asset classes. Hedge funds differ in strategies- a macro fund such as quantum fund generally take a directional view by betting in particular bond market or a currency movement. Other funds specialise in corporate events such as mergers or bankruptcies. They also vary widely in investment strategies and the amount of financial leverage. In the recent financial crisis, hedge funds have been heavily criticised in terms of their strategies and also f or the fact that in 2008, they have had hard time fulfilling their absolute return targets. There have been other criticisms towards hedge fund regarding this particular crisis. Stromqvist (2009) writes that ever since the growth of hedge fund industry there has always been discussions regarding the role of hedge funds in a financial crisis. The main focus of the criticism was on highly leveraged hedge funds and that they may have a large impact on price stability on both currencies and equities. In an article written in The Times, Dillow (2008) observes that even though average return of hedge funds in 2008 has been poor, à ¢Ã¢â€š ¬Ã…“they have not been a serious source of instability in the wider financial systemà ¢Ã¢â€š ¬?. Regardless of the recent financial crisis, hedge funds still generate a growing number of interests all around the world. Due to their private nature, it is difficult to obtain information about the operations of individual hedge funds and reliable s ummary statistics about the industry as a whole. It is a common belief that investing in hedge funds can have superior returns. Many success stories have emerged in the past and the most popular of which is the George Soros story. In September of 1992, he risked $10 billion on a single  currency  speculation when he shorted the British pound, which gave him an international fame. He was right, and in a single day he successfully generated a profit of $1 billion à ¢Ã¢â€š ¬Ã¢â‚¬Å" ultimately, it was reported that his profit on the transaction almost reached $2 billion. Therefore, he is famously known as the the man who broke the  Bank of England. The greates investor: George Soros, https://www.investopedia.com/university/greatest/georgesoros.asp 16-12-09 As seen in Table 1, the hedge funds as a group can generate positive returns. For example, over the period 1990-1997, all the hedge funds had positive absolute returns. Global/Macro funds obtained mea n returns of 28.1% p.a. with a standard deviation that is comparable to equity funds. Traditional asset allocation makes the most of the use of equities, bonds, real estate and private equity to invest in a portfolio that maximizes returns and minimizes the portfolio risk. Therefore, in an investment portfolio hedge funds can play a vital role in maximising returns. Moreover, in a bear market, many investment and fund mangers find it dull to just beat the market index, which may have negative returns. They generally prefer to go short or avoid long positions to have positive returns. Choosing an appropriate hedge fund to invest increases the possibility of obtaining positive à ¢Ã¢â€š ¬Ã…“absolute returnsà ¢Ã¢â€š ¬?. It is also generally believed that hedge funds have returns that are generally uncorrelated with the traditional asset classes. In fact, hedge funds may even have a lower risk profile. For example, Morgan Stanley Dean Witter (2000) reported that hedge funds à ¢Ã¢â€š ¬Ã…“exhibit a low correlation with traditional asset classes, suggesting that hedge funds should play an important role in strategic asset allocationà ¢Ã¢â€š ¬?. The answer to the question à ¢Ã¢â€š ¬Ã…“Why invest in Hedge funds?à ¢Ã¢â€š ¬? simply is à ¢Ã¢â€š ¬Ã…“to make money.à ¢Ã¢â€š ¬? The common analogy in all hedge funds strategies and the underlying rationale for investing in hedge funds is the search for absolute returns. This is sometimes called alpha. Alpha is the extra return a skilled manager can produce over and above the market return (or beta). Whereas many conventional fund managers aim simply to outperform their chosen benchmark index, hedge fund managers seek to produce positive gains in all market conditions. https://www.fleetstreetinvest.co.uk/shares/trend-investing/hedge-fund-investing-00128.html Research Question By using quantitative study, I will try to answer the following questions: Why investors invest in hedge funds? To answer this question I will be looking at the return, risk and performance associated with investing in hedge fund and how the fund mangers. By looking at the annualised return, standard deviation and risk adjusted returns of different styles of hedge funds their performance can be measured. What are the issues relating the investment in terms of risk, return and performance measurement? Although hedge funds are popular in terms of an investment vehicle, there are various issues. The issues related are its cost/ management fee structures, collection of data, survivorship bias and selection bias. Various performance measure techniques are available for hedge funds too. I will be looking at some of the performance measurement approaches. Purpose There are several purpose for this paper. First is to give an overview of hedge fund as an investment vehicle with a short description of different characteristics and styles of hedge funds. Second is to describe why hedge funds are attractive for investors and fund managers by presenting different theories where risk and returns of hedge funds are investigated in order to evaluate the performance measures. Third purpose is to investigate the issues related to the investment in hedge funds where several sets of issues are evaluated and various performance measures are identified. LITERATURE REVIEW There is no one particular definition of hedge fund as mentioned earlier. According to the Investment Company Act 1940 of the US, hedge funds were defined by their low degree of regulatory controls. In comparison to mutual funds, hedge funds were seen to have higher level of risk. This led to a 100-investor limit as well as wealth requirement of the investors. Fung and Hsieh (1999) claim that another reason for 100-investor limit is the use of leverage and short selling in hedge funds. The limit restrictions were later abandoned and wealth requirement lowered. Many definitions of hedge funds have been cited-most of them mainly based on its characteristics. Some of them are: à ¢Ã¢â€š ¬Ã…“Investment companies that by their charter can buy on margin, sell short, hold warrants, convertible securities and commodities and otherwise engage in aggressive trading tactics in order to profit from forcasting market swings.à ¢Ã¢â€š ¬?- Polhman, Ang and Hollinger (1978) à ¢Ã¢â€š ¬Ã …“A mutual fund that employs leverage and uses various techniques of hedgingà ¢Ã¢â€š ¬?- Soros (1987) à ¢Ã¢â€š ¬Ã…“hedge funds are vehicles that allow private investors to pool assets to be invested by a fund manager. Unlike mutual funds, hedge funds are commonly structured as private partnerships and thus subject to only minimal SEC regulation. Moreover, because hedge funds are only lightly regulated their managers can pursue investment strategies involving, for example, heavy use if derivatives, short sales and leverage.à ¢Ã¢â€š ¬?- Bodie, Kane and Marcus (2008). Murguia and Umemoto (2004) claims that the reason why there is no proper definition of hegdge funds is because they are not classified by the different asset classes but by the type of strategies employed by the fund mangers is what classifies them. Such strategies range from very aggressive to conservative, which is the reason why there is no clear definition. Several studies have been carried out about h edge funds performance and risk issues. Fung and Hsieh (1997a) extend Sharpe (1992) style analysis and conclude that there are more diversified hedge fund strategies and suggested that hedge fund strategies are more dynamic. The literatures also conclude that option-based factors can enhance the power of explaining hedge fund returns. Brown, Goetzmann and Ibbotson (1999) examine the performance of offshore hedge funds and attribute fund performance to style effects rather than managerial skills. Brown, Goetzmann and Liang (2003) found, in a study using the TASS database, that fund of hedge funds reduce by a third the standard deviation of monthly hedge fund returns, as well as significantly reduce the value at risk of hedge fund investment. Hence, fund of hedge funds can also provide significant diversification potential. A well-diversified fund of hedge fund manager can therefore take advantage of market-specific risks while maintaining low correlations to stock, bond, and curre ncy markets. As a result of which the fund of hedge fund manager can provide superior returns and generate alpha which reflects managerial skills. More generally, since fund of hedge funds deliver more consistent returns with lower volatility than individual hedge funds, they are considered to be ideal for diversifying traditional portfolios. During 1993à ¢Ã¢â€š ¬Ã¢â‚¬Å"2001, fund of hedge funds outperformed the SP 500 index on a risk-adjusted basis (Gregoriou, 2003a). Koh, Koh, Lee and Phoon(2004) state that traditional asset allocation optimizes the use of equities, bonds, real estate and private equity to invest in a portfolio that maximizes returns and minimizes the portfolio risk. Thus, hedge funds become vital in enhancing returns in an investment portfolio. Following the growth in hedge fund industry, fund-of-hedge funds (FOF) have become more and more popular. Liang (2003) states that FOF mixes various strategies and asset classes together and creates more stable long -term investment returns than any of the individual funds. It invests in underlying hedge funds and diversifies the fund specific risks and relieves burdens on investor to select and monitor managers, and providing asset allocation in dynamic market environments. Fund-of-funds require less initial investment as compare to hedge funds and therefore are more affordable for small investors. To participate in the investment, small investors may be willing to pay extra fees as it might be the only way for them. Previous studies in this area by Brown, Goetzmann and Liang (2002) conclude that combining hedge funds with fund-of-funds not only causes the double counting but also hides the difference in fee structures between hedge funds and fund-of-funds. Liang (2003) state that a hedge funds charges a management fee and incentive fee while a fund-of-funds not only charges these fees at a fund-of-fund level but also passes hedge fund level fees in the form of after fee returns to the fund -of-fund investors whether or not the fund-of-funds make a profit. Brown, Goetzmann and Liang (2002) examine this issue and propose an alternative fee which provide a better incentive for fund-of-fund managers and reduce the cost for investors under the current fee structure, which is that the fund-of-fund managers absorb the underlying hedge fund fees and establish their own incentive fees at the fund-of-fund level. Liang (2003) conclude that because of the above issues fund-of-funds need to be separated from hedge funds in academic studies and address the difference in performance, risk and fee structures. However, the FOF mangers can add value to the portfolio through selection, construction and continuous monitoring of the portfolio. They provide professional services and have access to the information that are expensive and difficult to obtain otherwise. The FOF mangers quite often use different investment strategies and styles through a diversified portfolio of individua l fund managers. Considering these advantages for an investor, investing in fund of hedge funds is not cheap. The cost can be as high as the cost of buying a building, according to Koh, Koh, Lee and Phoon (2004). This structure allows for more diversified portfolio and much reduced risk at the fund level which comes at a price. More diversified the portfolio is it is more likely that it will incur more incentive fees. Therefore, there are many persuasive reasons why investing in hedge funds are considered as à ¢Ã¢â€š ¬Ã…“alternative investmentsà ¢Ã¢â€š ¬?. Some uninformed investors may be misled about the risks and returns on hedge funds as it relies heavily on statistical compilation from the database vendors which is filled with data bias such as survivorship bias and selection bias. Fung and Hsieh (2001a) found that estimates of survivorship biases differed across two commonly used databases, HFR and TASS. The survivorship bias was much higher in TASS than that in HFR. They estimated that survivorship bias would over-report hedge fund mean returns by about 1.5% to 3% per annum. Brooks and Kat (2001) stated that around 30% of newly established funds do not survive the first three years, primarily due to poor performance. Thus, not including defunct funds is likely to lead to over-estimation of the returns and profile of hedge fund industry.

Symptoms And Symptoms Of Schizophrenia - 1343 Words

What is Schizophrenia? Experts agree that it is a syndrome (signs and symptoms that are thought to co-occur in ways that distinguish it from other syndromes and from normal thoughts and behaviors). Schizophrenia is also defined as a psychotic disorder with, impairments in reality, disturbances of perception and thought experienced as hallucinations, delusions, hearing voices, seeing things that are not there, and paranoia. Its onset usually starts in a person’s late teens to early twenties, and it affects about one percent of the global population. Its causes are unknown but experts are learning more every day. â€Å"Detailed descriptions of mental disorders such as mania, melancholia, dementia, delirium and hysteria have been†¦show more content†¦It was Eugene Bleuler in 1908 that named the illness Schizophrenia, a splitting apart of the mind. â€Å"The splitting meant that the mind no longer functioned as a whole, with behavior, emotion, and intellect working together. It did not mean that there were multiple personalities† (Freedman 8). Delusions and fantasies dominate over rational thought. Patients are stricken by formal thought disturbances. â€Å"As a consequence delusions, fantasies, wishes, needs, and emotions rather than intentions and logic control thought and action† (Shean 4). Many experience paranoia such as thinking the CIA is doing this to them with radio waves to control their mind, or that aliens are beaming them up from a mother ship. Basically schizophrenics believe they are under surveillance by some unknown being with the abilities of mind control. It is reported that the irrational thoughts dominate their mind and drive them to despair. Schizophrenics hear convincing voices that are actually lying to them. This is why a psychiatrist will say they have delusions. â€Å"During a visit to my office, a young man hesitantly reveals his belief that snakes are living behind the mirror in his college do rmitory room and that they are forcing their thoughts into his head. His terror was hidden in the privacy of his own mind for a year, until his failure in his classes led to a confession to his mother and a referral to me. His

The New Model For Art - 1743 Words

Placing the interests of the entire world above those of an individual nation became the new model for art in the contemporary world and this movement was known as globalism. With the increases in digital technology, global integration of art and culture became significantly easier and more prominent. Although, globalism brought a new knowledge of culture from other nations and allowed certain countries to emerge as super powers not everything was beneficial. Terrorism rocked western civilizations such as Britain and the Unites States with attacks from the extremist group knows as Al-Qaeda that brought a devastating and sense of urgency for moral change through art and literature. Also, the threat of our dying ecosystem was brought up as†¦show more content†¦505). Although terrorism was not developed recently but rather has been around for a while, the rapid and new forms of technology and communication as well as the availability of weapons made the issue more prominent an d devastating. Especially after the devastating 9-11 terrorist attacks on the Twin Towers in New York and the Pentagon. Since then the war on terror has spread too much of the Middle East, and the already tense atmosphere was made worse with Sunni and Shi’ite civil wars, terrorism was a fear that was all too real and possible. With such a devastating lost after 9-11 and over 3000 civilians killed, many artists commemorated those who died in the tragic attack with paintings or eulogies, such as Johns Adams, â€Å"On the Transmigration of Souls†(p.505) or paintings of people leaping to their death just moments before the towers collapsed. It wasn’t until years later where literary reflections of the incident were starting to be created that a stronger voice spoke up regarding what was seen as a moral urgency as terrorist attacks were beginning to occur in other parts of the world and were unfortunately becoming a common thing. Seamus Heaney, an Irish author, wrot e the most controversial piece, called â€Å"The Terrorist, He Watched† after the bombings in London on the metro. Heaney wrote how people go through there everyday life, and talk with friends, go to the restaurants and use public transportation but little do they

U.S. Election of 1800 Thomas Jefferson vs. John Adams

Cash Management Services Example

Essays on Cash Management Services Research Paper ï » ¿Cash Management Services Table of Contents Reduction of opportunity cost in a health care organization with CMS 4 Conclusion 5 Introduction The services offered by banks are getting diversified with time. Such multifarious treatment has been introduced to cater to the changing needs of the customers in the best possible manner. Through these specific services, banks try to attract and retain the loyal customers and thus attain sustainable competitiveness in the market. Among different services offered by the banks, ‘cash management service’ is often used by the banks to develop a healthy relation with its customers. Most of the banks offer cash management services to the retail customers (e.g. companies) for cash flow processing, cash pooling and message service for the current accounts. All these services assist the clients to improve the efficiency of their day to day cash transactions. Clients get timely and accurate information of the monitory transactions (Huang, 2007, p.83). The cash management services (CMS) is an assortment of different kinds of services, few of the most popular ones are discussed below: Lockbox service: If a retail customer receives a large number of payments through mails, then the customer’s account receivables will be directly collected in different branches of the bank and will be sent to the main account maintained by the customer. Zero-balance account (ZBA): If a company has several accounts located in different places, then it becomes quite difficult to segregate the amount debited from the one credited from each branch. ZBA assists in managing all the branch accounts in a more organized manner. In ZBA, each day the account of all the branches start with zero balance and at the end of the day all the receivables and deposits made throughout the day get adjusted with the main account of the company. The same thing continues the next day and the accounts of different branches start with zero balance. Automated Clearing House (ACH) Network: This is one of the most reliable and efficient network that allows batch–oriented electronic fund transfer system. This service is useful for those retail customers which have their operations in several locations. They often open accounts with different banks. As soon as the money is received in these accounts, it is transferred to the main account of the customer through inter-banking electronic fund clearance system (Center for Financial Training, 2009, p.318). Comparison of different CMS offered by the sample banks For analyzing cash management services followed by different banks in US, three sample banks were selected. During this process, the CMS offered by the sample companies is analyzed to identify the advantages and disadvantages associated with the CMS of each of these sample banks. The first sample bank is HSBC, one of the world’s largest banks. In South America, more than 710,000 people receive their salaries through HSBC and more than 40,000 corporate customers get benefited from the account receivable solution provided by the bank. The number of electronic banking services users is approximately 90,000 and most of them are regular users of payment and cash management (PCM) service offered by the bank. More than 100 specialists are working incessantly to identify the requirements of the customers and to develop different PCM services (HSBC-a, 2010). The bank offers electronic and paperless payment solution that adds flexibility and better control to the customer’s business. The electronic collection services of the bank assist the corporate customers to have a fast conversion of receivables to cash. Services like cash concentration and direct investment ensures a healthy short liquidity to businesses (HSBC-b, 2010). The recession has registered a change in treatment; the bank is focusing more on its Asian business as its US units are yet to recover from poor profitability and declining demand. Another bank is Bank of America Merrill Lynch. It is one of the best banks in America that succeeded in understanding the changing needs of the people and modifying the service portfolio offered by the company. In the year 2009, Merrill Lynch was considered as the â€Å"Best cash management bank† by Treasury Risk. The bank offers full range of treasury management solution that includes collection, concentration, investment and optimum retune on the liquidity managed by the companies. The receipt and payable management services offered by the bank is effective in minimizing the risk as well as the cost associated with this process. Dense network and long term experience of the bank in US can be considered as a major advantage for developing effective CMS. The last sample company is Bank Leumi USA, which too offers cash management services to the customers. It offers ACH origination, cash concentration, lockbox services, positive pay, money transfer, along with other allied services (Bank Leumi USA, 2010). Comparatively small market share and moderate popularity of the bank are some of the major disadvantages of CMS offered by the bank. After considering the CMS portfolio offered by the bank, network density and the degree of customer satisfaction, it can be concluded that cash management services like lockbox, ACH and concentration of cash offered by Bank of America Merrill Lynch is one of the best in terms of efficiency and effectiveness. The customer care department, which is responsible for CMS management of the bank, is quite experienced in understanding the requirement of the customers and developing innovative products. Reduction of opportunity cost in a health care organization with CMS Many well known organizations in US have several branches in different locations, making it problematic for managing cash (receivables and payable). If the health care organization follows the tradition cash management process, it will take too long to collect the receivables and thus the cost of opportunity would increase. On the flip side, if they use the CMS offered by a bank, it becomes quite easy for the organization to minimize the time as well as the cost associated with cash management process. Apart from the traditional receivable and payable management; these organizations can use special services like zero balance account that minimize the amount of ideal cost that needs to be managed with the bank for each account. Conclusion After analyzing the CMS offered by the sample companies, it can be concluded that all the banks offer more or less similar services but the quality of the services is what that makes the difference. While selecting the bank for availing its CMS facility, companies are required to pay more attention to branch network, efficiency of service offered, expertise of human force and ability of the management to understand the changing customer requirements. The above mentioned factors are also applicable in case of banks that aim to ensure sustainable growth by developing new services under CMS. Reference Center for Financial Training. (2009). Banking Systems. Cengage Learning. HSBC-a (2010). Global Payments and Cash Management - South America. Retrieved on September 11, 2010 from http://www.hsbcnet.com/transaction/global-payments-and-cash-management/south-america. HSBC-b. (2010). International Payments and Cash Management. Retrieved on September 11, 2010 from http://www.us.hsbc.com/1/2/3/business/other/cash-management. Huang, W. (2007). Institutional banking for emerging markets: principles and practice. John Wiley and Sons.

The Early New England and Chesapeake Regions Free Essays

Numerous things went into the development of the New England and Chesapeake regions. Though both of these societies came from the same background, England, these different groups of people yielded a different way to live. Basic needs and idealistic concepts were two reasons that differentiated New England from the Chesapeake region. We will write a custom essay sample on The Early New England and Chesapeake Regions or any similar topic only for you Order Now Basic needs included anything from food to shelter to education. The new pioneers had enormously varying ideas that they wished to accomplish in the New World. Such ideas involved religious concepts and governmental leadership. Thirdly, why did people come to America? The variation as to why people decided to come to America, was one reason that New England and the Chesapeake region evolved into two distinct communities. The two groups had very different views as to what they wished to accomplish. Documents B and C show a random sample of the sort of people that came to America. Emigrants who arrived in New England were mostly families with several children and their servants. The original people of New England were searching for a quiet place to call home, where they could raise their family apart from religious bias. On the other hand those who were bound for Virginia, mostly single young men, were in search of fortune. In contrast, only a few of these gold seekers were accompanied by family members, and probably knew very few of the other lads joining them on their quest. The men of the Chesapeake region had one basic mindset, and they were intent on finding wealth. This greed led to their own misfortune. In the History of Virginia, even before the settlers departed from England, the idea of the rich versus the poor had developed. There were those who had money and other such things, and those who did not. Those who did not became bitter from the hard trip and jealous of those slight few who struck gold in the New World. As stated by Captain Smith, â€Å"golden promises made all men their slaves in hope of recompenses. † Many of these men referred to as â€Å"slaves† consumed with greed, forgot to take care of their basic needs, food and shelter, therefore many simply died. Both New England and the Chesapeake region realized they had to work together in order to survive and hopefully thrive in the future, but only New England established this at first. On Winthrop†s journey to America he stated in his own words, â€Å"we must be knit together in this work as one man. † He made a point in saying the only way to survive is to support each other. Well, one way to create a community is to find common ground for which the new settlers can relate, in this case they found it in their children. Most of the citizens of New England had children, that is supported by Document B. With a large amount of children, logically there was a need for education. Thus education brought upon the building of schools, which in turn, made the newly founded society work together. Winthrop†s idealization of the unity of society stated that all must rejoice, mourn, labor and suffer together. He created unity among the people. Virginia had no such luck in finding this common ground and unity. They were too busy searching for gold. The Puritans did not consume their time worrying about money as did the Virginians. Their main focus was on setting up a society where they were free from persecution. John Winthrop, a future governor of Massachusetts, wished to establish a religious community in the New World. The Puritan ambition had been to establish an ideal Christian community, a â€Å"city on a hill,† as Winthrop called it, with the eyes of England and the entire world on it. Pride alone, as to not fail, may had been the reason for success. Also government played a huge part in the success of the northern colonies. Almost immediately after arriving in New England, a government was set up. This government was led by the church. The Articles of Agreement set up certain orders that were to be followed. Such orders were to procure a minister that followed all the ways of Christ. Document D suggested that the town of Springfield, Massachusetts, be composed of forty families rich and poor. Unlike the Chesapeake region, Springfield allotted every inhabitant land on which a house could be built, but more importantly, land for planting. Their government has evolved into our democratic government of the present. Although New England and the Chesapeake region had differences, neither society perished. Virginia thrived on wealth and materialistic items, you either had it or you did not. While in the background New England raised their young, trying to teach strong values and pass on their ideas of a better way of living. These first attempts at colonization, laid the foundation of society today. How to cite The Early New England and Chesapeake Regions, Papers The Early New England and Chesapeake Regions Free Essays Numerous things went into the development of the New England and Chesapeake regions. Though both of these societies came from the same background, England, these different groups of people yielded a different way to live. Basic needs and idealistic concepts were two reasons that differentiated New England from the Chesapeake region. We will write a custom essay sample on The Early New England and Chesapeake Regions or any similar topic only for you Order Now Basic needs included anything from food to shelter to education. The new pioneers had enormously varying ideas that they wished to accomplish in the New World. Such ideas involved religious concepts and governmental leadership. Thirdly, why did people come to America? The variation as to why people decided to come to America, was one reason that New England and the Chesapeake region evolved into two distinct communities. The two groups had very different views as to what they wished to accomplish. Documents B and C show a random sample of the sort of people that came to America. Emigrants who arrived in New England were mostly families with several children and their servants. The original people of New England were searching for a quiet place to call home, where they could raise their family apart from religious bias. On the other hand those who were bound for Virginia, mostly single young men, were in search of fortune. In contrast, only a few of these gold seekers were accompanied by family members, and probably knew very few of the other lads joining them on their quest. The men of the Chesapeake region had one basic mindset, and they were intent on finding wealth. This greed led to their own misfortune. In the History of Virginia, even before the settlers departed from England, the idea of the rich versus the poor had developed. There were those who had money and other such things, and those who did not. Those who did not became bitter from the hard trip and jealous of those slight few who struck gold in the New World. As stated by Captain Smith, â€Å"golden promises made all men their slaves in hope of recompenses. † Many of these men referred to as â€Å"slaves† consumed with greed, forgot to take care of their basic needs, food and shelter, therefore many simply died. Both New England and the Chesapeake region realized they had to work together in order to survive and hopefully thrive in the future, but only New England established this at first. On Winthrop†s journey to America he stated in his own words, â€Å"we must be knit together in this work as one man. † He made a point in saying the only way to survive is to support each other. Well, one way to create a community is to find common ground for which the new settlers can relate, in this case they found it in their children. Most of the citizens of New England had children, that is supported by Document B. With a large amount of children, logically there was a need for education. Thus education brought upon the building of schools, which in turn, made the newly founded society work together. Winthrop†s idealization of the unity of society stated that all must rejoice, mourn, labor and suffer together. He created unity among the people. Virginia had no such luck in finding this common ground and unity. They were too busy searching for gold. The Puritans did not consume their time worrying about money as did the Virginians. Their main focus was on setting up a society where they were free from persecution. John Winthrop, a future governor of Massachusetts, wished to establish a religious community in the New World. The Puritan ambition had been to establish an ideal Christian community, a â€Å"city on a hill,† as Winthrop called it, with the eyes of England and the entire world on it. Pride alone, as to not fail, may had been the reason for success. Also government played a huge part in the success of the northern colonies. Almost immediately after arriving in New England, a government was set up. This government was led by the church. The Articles of Agreement set up certain orders that were to be followed. Such orders were to procure a minister that followed all the ways of Christ. Document D suggested that the town of Springfield, Massachusetts, be composed of forty families rich and poor. Unlike the Chesapeake region, Springfield allotted every inhabitant land on which a house could be built, but more importantly, land for planting. Their government has evolved into our democratic government of the present. Although New England and the Chesapeake region had differences, neither society perished. Virginia thrived on wealth and materialistic items, you either had it or you did not. While in the background New England raised their young, trying to teach strong values and pass on their ideas of a better way of living. These first attempts at colonization, laid the foundation of society today. How to cite The Early New England and Chesapeake Regions, Papers

Bla Essay Research Paper The democracy we free essay sample

Bla Essay, Research Paper The democracy we have in America today is really complex. This democracy starts out with political? parties whose chief intent is to derive control of the authorities by winning elections? Appelbaum and Chambliss ( 1997:366 ) . ? In the United States, unlike in most other democracies, there are merely two political parties with any significant influence over authorities policies? Appelbaum and Chambliss ( 1997:366 ) . Third parties are besides apparent in elections. These 3rd parties are frequently successful in smaller elections, but when we are covering with national elections it is really hard for the 3rd party to last the bigger two due to the deficiency of support and promotion of the PAC? s and other involvement groups. However, 3rd parties serve a really good intent. They provide us with more campaigners giving us more picks which is what democracy is approximately. Harmonizing to my category notes ( talk on authorities ) 3rd parties are sometimes chosen when people are opposed to the campaigners from the other two parties. Third parties stand as a mark of pick every bit good. Voting for a 3rd party is besides seen as vote for a better choice of campaigners instead than voting for the usual two campaigners from the other parties. The president of the United States is non chosen on the popular ballot of the people entirely but on the Electoral College? whose ballot is determined by the popular ballot of each province? Appelbaum and Chambliss ( 1997:367 ) . This Electoral College is in a sense a ballot of the people but at the same clip it keeps bigger provinces from going to powerful overpowering the smaller provinces. The United States besides has three subdivisions of authorities the legislative, judicial and executive subdivisions. ? The fundamental law of the United States provides a system of cheques and balances? Appelbaum and Chambliss ( 1997:369 ) . This system of cheques and balances puts a bound on the sum of power a individual subdivision may hold which protects both the people and the single subdivisions authorities from one another. I believe that the United States has a really efficient signifier of authorities. It has many regulations sewn into the fundamental law to maintain things running efficient and reasonably. ? Democracy is a signifier of authorities in which citizens are able to take part straight or indirectly in their ain administration, literally means the regulation of the people? Appelbaum and Chambliss ( 1997:366 ) . Harmonizing to my category notes ( talk on democracies ) this does non look to be the instance. It seems in some instances that the rich or the elite have more influence than make other citizens in the government of out state. For illustration, support moneys and involvement groups. The elite are able to donate funding to their peculiar campaigner or party in the signifier of involvement groups. They give money to involvement groups, which is so given to campaigners for candidacy intents that help the campaigners financess for president. For the most portion this money is non freely donated. The elect privation to do certain that if their money is donated to a campaigner that their thoughts and beliefs will be supported in office if they do go president. With these sort of issues in head many others particularly the hapless will frequently chorus from voting because they feel that their ballot will non count anyhow. This thought is really much a world. ? The cost of runing has gone up significantly in recent old ages, and today campaigners pass huge amounts of money on political runs? Appelbaum and Chambliss ( 1997:370 ) . As said by Phil Gramm, people who give money are the best friends a politician can hold and the 1 that spends the most money wins. So the impact of disbursement through involvement groups and PAC? s are really of import. There are many differing sentiments on the issue of altering households in the last 40 to fifty old ages. I believe that if person were to look at today? s households in the same manner as one would hold forty to fifty old ages ago they are traveling to be in for a surprise. We have to recognize that non merely household has changed but our civilization and economic system excessively have besides changed. ? The thought of household is a group of people who identify themselves as being related to one another, normally by blood, matrimonies, or acceptance, and who portion intimate relationships and dependence? Appelbaum and Chambliss ( 1997:390 ) . Our society? s linguistic communication and definitions have changed so much over the last 40 to fifty old ages. For illustration? the significance of atomic household has besides changed since so? Appelbaum and Chambliss ( 1997:391 ) . Harmonizing to my category notes ( talk on household ) we used to sort a atomic household as a household with two biological parents and their kids normally more than one. Now in today? s times we classify the atomic household as? a societal group dwelling of one or two parents and their dependent kids? Appelbaum and Chambliss ( 1997:391 ) . Our society has changed so much in the last 50 old ages that individual parenting is really common and is frequently looked at as a norm. Another illustration of the altering times would be that of matrimony. Fifty old ages ago matrimony was an acceptable relationship between two people of the opposite sex. Now the definition is so basic that matrimony reasonably much merely has to be between to people including people of the same sex. If we are to look at today? s households as we did of those 40 to fifty old ages ago it would look that America had lost its sense of values. Families would besides be looked upon as immoral based on these same ideals. On the other manus if we look at household today as in relation to our society as a whole I don? T think that there would be to many surprises when it came to looking at household. When comparing both functional doctrine and struggle positions on instruction they seem to be in no manner the same. From a functionalism perspective instruction seems to be explained as preparing and educating people with basic accomplishments to last in today? s universe. As said by Emile Durkheim, stressing the map of formal instruction in socialising people into the norms and values every bit good as the accomplishments that are needed for the society to last ( Appelbaum and Chambliss 1997 ) . The functionalism theory is broadcasted as the? maps and transmittal of general cognition and specific accomplishments? Appelbaum and Chambliss ( 1997:453 ) . On the other manus we have the struggle theory of instruction. Harmonizing to the struggle theory? kids are taught at an early age to specify their academic aspirations and abilities in maintaining with the societal category of their parents. The lower one? s societal category, the less likely 1 is to value higher instruction as a plausible avenue to upward mobility, and the less likely one is to work to stand out academically? Appelbaum and Chambliss ( 1997:455 ) . So in most instances the struggle theory provinces that the category you are in is the 1 that you will remain in throughout your life. Besides as an illustration of my category notes ( talk on instruction ) most lower income households kids will have a lower or less able instruction than would a individual who is of a higher category that would travel to a private school for case. When comparing the two theories it seems that both functionalism and struggle theories have some mistakes and some virtue. ? Education is a dual edged blade. For some, it helps to cut down inequality by opening up new possibilities for societal mobility. For others, it reinforces bing inequality by supplying unequal educational chances harmonizing to one? s race, ethnicity, societal category, or gender? Appelbaum and Chambliss ( 1997:457 ) . ? Emile Durkheim? s The Elementary Forms of the Religious life ( 1965 ) , written in 1912, propounded what has prove to be one of the most influential and digesting theories in the sociology of faith? Appelbaum and Chambliss ( 1997:480 ) . Harmonizing to my category notes ( over faith ) Durkheim based his surveies on Natives who? s faith had been the same for many old ages. ? He found that the natives divided their universe into to groups which are profane and sacred? Appelbaum and Chambliss ( 1997:480 ) . Profane being a domain of everyday day-to-day life harmonizing to my category notes ( talk on faith ) and sacred as a more of import sphere with a religious background. ? Durkheim? s bold theoretical decision was that, in all societies, the kingdom of the sacred serves an of import societal map for the societies, the kingdom of the sacred serves an of import societal map for the society as a whole? Appelbaum and Chambliss ( 1997:480 ) . ? Marx on the other manus did non consistently analyze the nature of faith in society, although he clearly recognized its cardinal importance? Appelbaum and Chambliss ( 1997:481 ) . Through a Marx position, societies are divided into categories. For illustration Marx, divided faith into hostile and opposing categories in his account of faith ( Appelbaum and Chambliss 1997 ) . In one of Marx? s most celebrated statement he says, ? Religion is the suspiration of the laden animal, the sentiment of a hardhearted universe, and the psyche of soulless conditions. It is the opium of the people? ( in McClellan, 1997, p.64 ) . I believe what Marx? s is stating here is that faith is based chiefly around a higher category of people suppressing the hapless and maintaining them from going involved. Like most theories Durkheim? s and Marx? s seem to hold strengths and failings. Harmonizing to my category notes ( talk on faith ) Durkheim seems to hold many strong statements that look to be logical but we besides have to take in consequence that his surveies were done on a Australian hunting and assemblage folk and would non transport every bit much weight while looking through his position in the 20th century. Marx on the other manus has a more modern attack which would appeal more to today? s times but seems to set to much accent on what the elite can set over on everyone else. For illustration, ? One of these jobs is that Marx? s notation that faith is a bewilderment enabling the governing category to draw the wool over everybody? s eyes is clearly simplistic? Appelbaum and Chambliss ( 1997:481 ) . The separation of church and province is sociologically debatable for many grounds. ? Sociology is the systematic survey of human societal dealingss, groups, and societies? and when looked at Sociological stand point at that place seems to be no separation Appelbaum and Chambliss ( 1997:6 ) . Religion is non controlled by the provinces so it acts upon society as does the authorities and at that place seems to be know line drawn between the two so it is really hard to analyze. Since there is no regulating of faith? it is besides hard to gauge faithfully the figure of people belonging to churches? Appelbaum and Chambliss ( 1997:491 ) . Harmonizing to my category notes ( talk on faith ) although it is hard to gauge the exact growing of faith we can state that it has grown steadily since the United States were founded. Another ground this is debatable is because of the figure of spiritual organisations. ? One ground so many people belong to religious organisations is that there are an tremendous figure of such organisations one can belong to? Appelbaum and Chambliss ( 1997:491 ) . This besides presents trouble because of the figure of people belonging to multiple spiritual groups. Surveies besides look to be deceptive because the replies given during the study frequently seem to stretch the truth for illustration stating that you pray more than you really do.

Accounting for Business Combinations for Greenvale Energy

Question: Discuss about theAccounting for Business Combinations for Greenvale Energy. Answer: Introduction The issue presented in the question is that Greenvale Energy Limited in its annual report of 2016 has revealed its financial performance and operations during the year that it has committed. Now the question lies in the fact that whether the company has adhered to the requirements as mentioned in AASB 8. Therefore in this study a brief idea about AASB 8 as well as the operating standards of Greenvale Energy Limited can be known. Operating Segment and Reportable Segment of Greenvale Energy Limited The operating segment of any entity means essentially a list of the operations undertaken in order to add to the revenue generation of the company. On the other hand the term reportable segment refers to the fact whether the information disclosed in the operating segments have been reported properly or not, that is, whether there is enough information about the nature of the product, its production process, nature and type of customer and all other relevant information. Disclosures not having quantitative thresholds are also considered a reportable segment. Greenvale Energy Limited in its annual report has mentioned that it has undertaken the operation of asset development by exploring the Alpha Oil Shale Deposit. Though the company has mentioned in this certain disclosure that it has failed to provide the Statement of Resources and Reserves now because of partially out-dated data that has been preserved poorly and has been outdated, thus the operation has been downgraded to the leve l of exploration target. Tables summarizing the oil shale exploration targets have also been disclosed. The Asset Divestment disclosed by the company is a clear and concise report and very effectively gives a clear understanding of the actions taken by the company. In the Asset Divestment disclosure as revealed by the company every little detail in regards to the downfall of the company in the financial year of 2015 till the time when it sold its assets, everything has been mentioned in a clear and concise way (Annual Report, 2016). Compliance with AASB 8 The company, Greenvale Energy Limited has rightly adhered to the laid down regulations and policies of AASB 8. The disclosures essentially have been prepared in such a way that a particular investor or a stakeholder will get a clear idea about the financial condition and position of the company. There are certain areas where ample scope regarding improvement can be identified (Faras and Rodrguez 2015). For instance the operating segments broadly do not meet the quantitative threshold, that is, if the segments cold have been backed up by more data then it could have been included under operating segments without having to include them under reportable segments. Moreover the information disclosed by the company in the concerned disclosure is simple and easy to understand and comprehend enabling any third party investor to get interested in the affairs of the company thus adhering rightly to the mentioned standards in AASB 8 (Kan and Gray 2013). For each disclosed financial item if the total of all reportable segments do not equal to the corresponding consolidated figures for the whole group then the particular financial item may still not have been received that is it has been recorded on terms of its occurrence and not receipt. This would definitely prove that the financial statements are prepared on the basis of accrual basis of accounting. References Annual Report of Greenvale Energy Limited, 2016. Faras, P. and Rodrguez, R., 2015. Segment disclosures under IFRS 8s management approach: has segment reporting improved?. Spanish Journal of Finance and Accounting/Revista Espanola de Financiacion y Contabilidad, 44(2), pp.117-133. Kang, H. and Gray, S.J., 2013. Segment reporting practices in Australia: Has IFRS 8 made a difference?. Australian Accounting Review, 23(3), pp.232-243.

Social Conflict in the Work of Marx and Weber

Introduction Philosophers describe conflict as the disagreement of authority. According to these philosophers, power can take on different forms depending on the person at the helm. While some form of power might be humane and manipulative, another might as well be coercive and physical. While some people in power might choose to lead in an assertive and bargaining way, others decide to do so in an inductive and rational manner.Advertising We will write a custom essay sample on Social Conflict in the Work of Marx and Weber specifically for you for only $16.05 $11/page Learn More Due to the variations in the forms of power, there is usually the likelihood of manifestation of conflict. In this light, social conflict therefore addresses the confrontation of social powers. Ideally, all social theorists seek to address power or conflict based on social powers and their dialectics. (Cattell, 1957, p. 23)This essay seeks to examine the status of social conflict in the work of both Karl Marx and Max Weber. Karl Marx According to Marx, the society encompasses an existing balance of opposing forces that give rise to social change by their constant tension and struggle. In presenting his theory, Marx based his vision on an evolutionary point, which was contrary to the theories existing at that time. For him, tension and struggle rather than passive development was the driving force of progress. Marx considered strife the father of all good things and social conflict the center of chronological progression. This philosophy presented by Marx deviated from earlier versions but corresponded with the 19th century view of society. According to Marx, the need for adequate food and drink, of housing and for clothing were man’s chief goals at the beginning of the race, and these needs are still fundamental when efforts are made to scrutinize the intricate structure of contemporary society. However, man’s strive against nature does not st op once these pursuits are attained. If translated literally, this statement means that meeting one need gives rise to a host of others and this becomes a sort of a vicious cycle. (Giddens, 1983, p. 101) In their bid to gratify both the principal and inferior needs, men engage in aggressive cooperation immediately they leave the primeval, shared period of development. According to Marx, specialization brings with it opposition of ideas from the different classes. In his hypotheses, Marx claimed that all social relations between men, as well as the existing systems of ideas are exclusively rooted in the past. He also maintained that, although class strives, had marked all history, the competitors in the struggle had changed in the course of time. Although there was obviously a similarity between the travelers of the middle ages who fought against guild masters and today’s industrial workers who take on capitalists, the contestants were merely the same characters placed in diff erent situations. (Blau, 1964, p. 23)Advertising Looking for essay on political sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More For Marx, the analysis of social class, class organizations and modifications are crucial to understanding capitalism and other social structures or means of production. In his theory, work and labor, and ownership of property with the means of production were the only ways that could be used to explain and define classes. Today’s capitalism according to Marx exhibits these economic factors than in any other period in history. While the previous societies contained alliances that could have been considered classes, these were mere elites who were not wholly based on economic factors. (Bottomore, 1983, p. 96) According to Marx, capitalism has two major groupings namely the bourgeoisie and proletariat. It is actually important to understand that Marx viewed the structure of society vis-Ã  -vis its maj or classes, and the resistance between them as the force of alteration in this structure. Indeed, Marx theory was not based on balance or consensus. Conflict was forever present within the societal structure and the existing classes were not meant to be purposeful elements maintaining the structure. According to Marx, this structure was like a major ingredient in the struggle of classes. Indeed, Marx only sought to explain his conflict view based on his observation of the 19th century society. (Marx, 1971, p. 65) Marx defined class as simply the possession of property. In his explanation, he claimed that such an ownership gives a person the power to bar other people from the property and to utilize it for personal intentions. By looking at the bourgeoisie, landowners and proletariats, one realizes that their main asset was property and not revenue or status. Indeed, these are determined by supply and expenditure, which itself definitely replicates the production and power associatio ns of classes. According to Marx, this makes the issue of class a hypothetical and recognized relationship among individuals. In a bid to fit in to one of the three classes, there arises an informal class membership force otherwise known as class interest. Due to the identical class conditions, individuals in the different classes tend to act in the same manner. This leads them to unconsciously form a kind of reciprocal reliance, a society, and shared interest interconnected with common revenue of yield or of wages. Because of this common interest, what follows is a formation of an interest class meant to protect their property. The formation of the interest classes often leads one group in to a struggle with the opposite group. (Marx, 1971, p. 68)Advertising We will write a custom essay sample on Social Conflict in the Work of Marx and Weber specifically for you for only $16.05 $11/page Learn More Initially, the interests associated with land possessio n and rental fee are dissimilar to those of the bourgeois property. However, as the society matures, there is usually a merger between capital and land ownership, which in turn forces a coalition between landowners and bourgeoisie. At the end, the association of production, the natural struggle between proletariat and bourgeoisie ends up being the determinant of all the events that follow. According to Marx, this constant struggle is necessary for any society that is maturing since its absence would ground a society to a halt. At the beginning of class conflict, the struggle between the various classes is usually carried out at individual production units. As capitalism matures, the rising inequality between the living conditions of the bourgeoisie and the proletariat extends the strife to coalitions across industrial units. With the passage of time, there is a manifestation of class conflict within the societal level. According to Marx, this new level leads to a rise in class-consc iousness, which ultimately leads to the clamor for political power. This therefore transforms the existing classes in to political power, which is the other form of class. (Marx, 1971, p. 70) According to Marx, the spread of political power is determined by the power of production. Production grants political power, which the bourgeois class uses to legalize and safeguard their property and resultant group affairs. Class relations are therefore political and in a mature society, the government is involved with the bourgeoisie affairs. This fact leads to a state of restlessness in the remaining classes something that widens the rift between them even further. Additionally, the state of the already exploited worker deteriorates further and in most cases, this leads to the collapse of the entire social structure. Ultimately, this transforms the class struggle in to a blue-collar revolution. In effect, this wipes away the existing classes and gives rise to a classless society. With the collapse of classes, the political power needed to protect the bourgeoisie against the laborers becomes obsolete leading to the collapse of political power and the state at large. (Cattell, 1957, p. 5) Marx’s emphasis on class conflict as representing the dynamics of social change, his consciousness that change was not accidental but the result of a conflict of interests, and his observation of social relations based on political power were new findings in the society. However, the passage of time and history has made most of his suppositions and prophecies obsolete. Today, capitalist possession and the control of production have been divided. Instead of workers becoming homogenous as Marx predicted, they are now divided in to various specialization groups. On the other hand, the strengthening of the middle class and communal mobility has further weakened the class solidity thus discrediting Marx theory in a large manner.Advertising Looking for essay on political sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Instead of there being a big disparity between the rich and the poor, there has been a social intensity and an increasing highlight on social fairness. Finally, the growth of worker-oriented laws has weakened the bourgeoisie power that Marx predicted would characterize the modern society. Most importantly, the demonstration of conflict between laborers and capitalist has been institutionalized through combined negotiation legislation and the validation of strikes. Despite the exhibit of chronological trends discrediting these theories, Marx’s sociological outlines have much value. Of importance, his highlighting on conflict, classes, and their association to political influence, and on communal alteration was a dominant perspective that the modern society should not abandon. Indeed the spirit, if not the essence of his hypothesis merits further development to guide the modern society. (Giddens, 1983, p. 105) Max Weber Marx saw the division of classes as the mainly important f oundation of class conflict. Weber’s scrutiny of class is similar to Marx’s, but he discusses class in the framework of social stratification in a more general manner. Weber claims that class and social status are different dimensions of the social structure and both are noteworthy contributors of social difference. In fact, the way Weber treats class and status is an indication of the manner in which the substance basis of society is related to its perception. Social conflict can therefore be a result of the substance or the ideological basis. Unlike Marx, Weber did not dwell on explaining how class conflict occurs but he highlighted the role of power, domination and societal action in the matter. Weber defines power as the aptitude of an actor to recognize his will in a social action, even against the will of team players. He relates this to the ability to sway resources in a fastidious sphere of influence. Therefore, economic power is the ability to manage substance resources in order to guide production, dominate accretion and dictate expenditure. Societal power as outlined by Weber includes monetary power, societal power, lawful or political power among other centers of influence. Although controlling these spheres of resources usually go together, they characterize diverse mechanisms of power and are therefore theoretically distinct. (Giddens, 1983, p. 108) On the other hand, Weber described domination as the implementation of power. Therefore, possessing power in any sphere of life resulted in to automatic dominance. In what he called charismatic domination, Weber claimed that some individuals might use inspiration, coercion, communication or even leadership to direct and coordinate social action. This charisma according to Weber usually emerges during times of social crisis. Because this leadership tends to be personalized, it is short-lived and does not extend beyond the rule of its founder. In exercising this power, the leader often fin ds himself in a form of conflict with the subjects. In traditional authority, there is absolute loyalty to the leadership. In most cases, the lines of this authority are almost non-existent and there is no clear differentiation between private and public life. (Shortell, n.d) In the matter of communal action, Weber claims that it is oriented based on a common conviction of association. In other words, the actors believe that by some means they belong together in a certain way. The actions of these actors come from and are co-coordinated by this feeling. This is in contrast to societal action, which is somehow oriented to a coherent modification of welfare. The motivation is therefore not gotten by a sense of communal rationale, but relatively, identification of common good. On the issue of class, Weber identified three distinct classes, which included a specific fundamental section of actors, which rests entirely on monetary interests and is embodied under an environment of labor an d product markets. According to Weber, the possession of property defines the major class difference. Property owners have explicit advantages and in some cases even a monopoly in the marketing of commodities. The same property owners have a limited access to the foundations of wealth creation, by virtue of possession and management of the markets. Unlike Marx, Weber did not believe that class interests necessarily led to consistency is social action. Additionally, Weber did not concur with Marx that proletarian revolutionary action would arise because of structural inconsistency. In certain situations, Weber believed that there was a possibility of societal action developing from a common class situation. This meant that the extent of the contrasts between the property owners and the property less laborers must first be translucent to the laborers in order for communal action around the issue of class to crop up. (Shortell, n.d) Conclusion Both Marx and Weber have addressed the sta tus of social conflict albeit in different words. Weber’s view on the status of class conflict was not much different from the one outlined by Marx although both views are stated differently. On his part, Marx discussed the repercussions of class in terms of the substance conditions of survival. He also classified property possession in a definitive manner and in light of capitalist class relations. Additionally, Marx did not think that the variations in the kind of labor were important though he accepted that specialization had greater value than unskillful labor. On his part, Weber believed that the disparities in wages resulted in considerable substantial conditions thus dissimilar models of social action. Weber’s theory also suggests that rivalry among those without property can be based on lucid reasons, and not false awareness as Marx suggested. Reference List Blau, P. (1964) Exchange and Power in Social Life. New York: Wiley. p. 23-46. Bottomore, T. (1983) A Dic tionary of Marxist Thought. Cambridge: Harvard University Press. p. 96-103. Cattell, R. (1957) Personality and Motivation. New York: World Book. p. 5-16. Giddens, A. (1983) Capitalism and Modern Social Theory: An Analysis of the Writings of Marx, Durkheim and Max Weber, Cambridge: Cambridge University Press. p. 101-109. Marx, K. (1971) Preface to a Contribution to the Critique of Political Economy. Tr. S. W. Ryanzanskaya, edited by M. Dobb. London: Lawrence Whishart. p. 65-81. Shortell, T. (n.d). Weber’s Theory of Social Class. [Online] Brooklyn College. Available at: http://www.brooklynsoc.org/courses/43.1/weber.html . This essay on Social Conflict in the Work of Marx and Weber was written and submitted by user Daisy Doyle to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.