Ancient Greek Theatre Essay

In this essay I’m going to be writing about Ancient Greek Theatre the origins of it and how effects the modern world Theatre. The question I’m going to answer in this essay is how did Greek Theatre represent Greek culture? I’m going to use a variety of sources in this essay to provide historic information about Ancient Greek Theatre. I’m also going to look into the culture’s practices of citizenship, philosophies, gender, faiths, or origin myths. To begin with I’m going to start with the origins of how theatre started. Western Theatre was born in Ancient Greece in between 600 and 200 BC. Ancient Greek Theatre was a mixture of myths, philosophies, social commentary, dance, music and etc. But it begins as a religious ceremony. The Ancient Athenians created a theatre culture whose form, technique and terminology have lasted two millennia, and they created plays that are still considered among the greatest works of world drama. Athenians plays fo cused on the God Dionysus, which was a God of many things including fertility, agriculture, and sexuality. Athenians plays were legendary and were known to be the greatest works of world drama. The Athenians created the world of tragedy’s in plays which is a common concept in plays in the modern day world. Tragedy derived from the word tragos which meant goat and ode which means songs it was meant to teach religious lessons. Tragedies were viewed as ritual purifications. It dictated how people should behave and it also inquired free thought, in Athens it brought radical ideas of democracy, philosophy, mathematics and arts. It boasted philosophers like Plato, Socrates, Aristotle, Epicurus, and Democritus. The traditional tragedy in Aeschylus’ time (circa 475 BC) consisted of the following parts the prologue which described the situation and the set, and then there was parados an ode song that the chorus would sing when they made their entrance. Then there were the five dramatic scenes and lastly the exodus which is the climax and the conclusion. Around 484 BC there was a new playwright named Aeschylus which turned the dithyramb into drama. Aeschylus most prevalent work was The Oresteia. Aeschylus makes a point that has been used by Historians, Dramatists, Psychologists and Crime Writers; that the root of evil and suffering is usually human arrogance. In 468 BC Aeschylus was defeated and then there competition was Sophocles. Sophocles contributed the addition of a third actor and an emphasis on drama between humans rather than between humans and gods. Sophocles’ plays are about the folly of arrogance and the wisdom of accepting fate. Sophocles believed in the Greek gods, but his plays are covered with existential insights that have been pronounced many times since. Euripides was popularity surpassed Sophocles and Aeschylus. His plays were about real people he placed peasants alongside princes and gave their emotions equal weight. Tragedy’s wasn’t the only theatre in Athens there was also Comedy. Greek Comedy’s had two periods which was Old Comedy and New Comedy. In the comedies they used three actors a chorus who sang, danced and sometimes participated in the dialogue. The New Comedy was more aimed at the common people than the religious lessons. Menander was the creator of most of the popular comedy playwrights in that era. His characters wore classic models and the style he used created in emphasis on mistaken identity, romance and situational humor became the model for succeeding comedy, from the Romans to Shakespeare to Broadway. There were rules that they had to follow in theatre which was called the three unities. The three unities were time, place and action. The unity of time limits the duration of an action roughly, of a single day. The unit of place makes sure all actions were located in one place. The unit of subject represents every aspect of a play and how it relates to one topic. One must remember that Aristotle was providing these ground rules during the fourth century B.C.E. At the time, plays were performed outdoors and the use of multiple settings would be expensive and complicated to produce. The audience would likely get confused in the process of changing sets and props. Greek theatre had a major impact on the modern world because tragedies are used in most of the plays in the modern world. For example, The Death of a Salesman’s is a tragedy because the dad ends up dying at the end of the play. Tragedy’s gives modern day plays their edge; they are called dramas in the modern world. The definition of a Drama is A prose or verse composition, especially one telling a serious story, that is intended for representation by actors impersonating the characters and performing the dialogue and ac tion. This describes what the Greeks believed tragedy’s was. Then they helped the modern theatre world evolve into a greater aspect of life. The Greeks had men playing all the roles in the plays and had chorus was used to tell the stories and maintain a since of ceremony and ritual. It established the mood though rhythmic chanting and dancing. It connected the artist by making responses and asking questions. In modern theatre we used dancing and chanting and chorus for our musical plays and for the regular plays we use music to connect the audience with the mood of the play. Also instead of a chorus to narrate the play we just use a regular person to narrate the play. The answer to the question how did Greek Theatre represent Greek culture? Is Greek Theatre showed how the Athens was very religious and they used the tragedies of theatre to tell people how to ask and also give people a voice. Greek Theatre playwrights represented how the society behaved in that era. They used religious traditions as a main part of the plays which slowly disappeared later on the era and culture transformed into playwrights that dealt with common people instead of Gods and how you should worship them. Greek theatre was greatly influential in the modern world and the plays are still used today. Bibliography 1. Ceehorn, Ashley. What Are the Three Unities in Greek Theater? Read more: What Are the Three Unities in Greek Theater? | eHow.com http://www.ehow.com/info_8187974_three-unities-greek-theater.html#ixzz1bh3UB4gq. N.p.: eHow Contributor, 2011. 2. Http://anarchon.tripod.com/indexGREEKTH.html. 2004. 3. Girard, Phyllis M. Greek Theatre: A Reflection of Ancient Greek Society (A Program Alternative for High School Gifted Students). Programs for Gifted Students. N.p.: Guides – Classroom – Teacher, 1978. 4. Phillips, K. Ancient Greek Theatre. 2000.

Phases of the Moon Essay

Sunlight is shown coming in from the right. The earth, of course, is at the center of the diagram. The moon is shown at 8 key stages during its revolution around the earth. The moon phase name is shown alongside the image. The dotted line from the earth to the moon represents your line of sight when looking at the moon. The large moon image shows what you would see at that point in the cycle. For the waning gibbous, third quarter, and waning crescent phases you have to mentally turn yourself upside down when imagining the line of sight. When you do this, you’ll â€Å"see† that the illuminated portion is on your left, just as you see in the large image. One important thing to notice is that exactly one half of the moon is always illuminated by the sun. Of course that is perfectly logical, but you need to visualize it in order to understand the phases. At certain times we see both the sunlit portion and the shadowed portion — and that creates the various moon phase shapes we are all familiar with. Also note that the shadowed part of the moon is invisible to the naked eye; in the diagram above, it is only shown for clarification purposes. Finally, please realize this diagram is only meant to demonstrate how the phases work; the small inner moons in the diagram do not show the fact that the same side of the moon always faces Earth. So the basic explanation is that the lunar phases are created by changing angles (relative positions) of the earth, the moon and the sun, as the moon orbits the earth. If you’d like to examine the phases of the moon more closely, via computer software, you may be interested in this moon phases calendar software. Moon Phases Simplified It’s probably easiest to understand the moon cycle in this order: new moon and full moon, first quarter and third quarter, and the phases in between. As shown in the above diagram, the new moon occurs when the moon is positioned between the earth and sun. The three objects are in approximate  alignment (why â€Å"approximate† is explained below). The entire illuminated portion of the moon is on the back side of the moon, the half that we cannot see. At a full moon, the earth, moon, and sun are in approximate alignment, just as the new moon, but the moon is on the opposite side of the earth, so the entire sunlit part of the moon is facing us. The shadowed portion is entirely hidden from view. The first quarter and third quarter moons (both often called a â€Å"half moon†), happen when the moon is at a 90 degree angle with respect to the earth and sun. So we are seeing exactly half of the moon illuminated and half in shadow. Once you understand those four key moon phases, the phases between should be fairly easy to visualize, as the illuminated portion gradually transitions between them. An easy way to remember and understand those â€Å"between† lunar phase names is by breaking out and defining 4 words: crescent, gibbous, waxing, and waning. The word crescent refers to the phases where the moon is less than half illuminated. The word gibbous refers to phases where the moon is more than half illuminated. Waxing essentially means â€Å"growing† or expanding in illumination, and waning means â€Å"shrinking† or decreasing in illumination. Thus you can simply combine the two words to create the phase name, as follows: After the new moon, the sunlit portion is increasing, but less than half, so it is waxing crescent. After the first quarter, the sunlit portion is still increasing, but now it is more than half, so it is waxing gibbous. After the full moon (maximum illumination), the light continually decreases. So the waning gibbous phase occurs next. Following the third quarter is the waning crescent, which wanes until the light is completely gone — a new moon. The Moon’s Orbit You may have personally observed that the moon goes through a complete moon phases cycle in about one month. That’s true, but it’s not exactly one month. The synodic period or lunation is exactly 29.5305882 days. It’s the time required for the moon to move to the same position (same phase) as seen by an observer on earth. If you were to view the moon cycling the earth from outside our solar system (the viewpoint of the stars), the time required is 27.3217 days, roughly two days less. This figure is called the sidereal period or orbital period. Why is the synodic period different from the sidereal period? The short answer is because on earth, we are viewing the moon from a moving platform: during the moon cycle, the earth has moved approximately one month along its year-long orbit around the sun, altering our angle of view with respect to the moon, and thus altering the phase. The earth’s orbital direction is such that it lengthens the period for earthbound observers. Although the synodic and sidereal periods are exact numbers, the moon phase can’t be precisely calculated by simple division of days because the moon’s motion (orbital speed and position) is affected and perturbed by various forces of different strengths. Hence, complex equations are used to determine the exact position and phase of the moon at any given point in time. Also, looking at the diagram (and imagining it to scale), you may have wondered why, at a new moon, the moon doesn’t block the sun, and at a full moon, why the earth doesn’t block sunlight from reaching the moon. The reason is because the moon’s orbit about the earth is about 5 degrees off from the earth-sun orbital plane. However, at special times during the year, the earth, moon, and sun do in fact â€Å"line up†. When the moon blocks the sun or a part of it, it’s called a solar eclipse, and it can only happen during the new moon phase. When the earth casts a shadow on the moon, it’s called a lunar eclipse, and can only happen during the full moon phase. Roughly 4 to 7 eclipses happen in any  given year, but most of them minor or â€Å"partial† eclipses. Major lunar or solar eclipses are relatively uncommon. Moon Software If you want to follow the phases of the moon, you should definitely take a look at QuickPhase Pro, our flagship moon software product for your personal computer. This attractive and fun software covers thousands of years of past and future moon phases and is easy to use.

Brenda’s Flight Essay

As Gregor saw his many legs waving in the air it symbolizes the rejection of different people because as a traveling salesman he used to move constantly from one place to another and in the habit of waking up in unfamiliar surroundings and various circumstances. He must show his patience, perseverance and eagerness to induce many customers because from that he can earn his living. But as we all know not all the people that we used to mingle with can accept and entertain us positively. The weight on Gregor’s life represents the resistance to change in family tradition that he is the financial head of the household; nobody else probably works in his family; their whole present and comfortable existence relies upon Gregor’s employment. Most of his burden is the debt which his father owes to the employer for whom Gregor now works. His mere condition shows the exploitation of one by many because the reactions of his own family revealed that he is just an impending burden to them. They care for him but they are so horrified by his presence that’s why they take to shutting Gregor into his room. They tend to shrink back whenever he reveals himself and his father embedded one of the apples in his back, causing an infection. As he hides himself underneath a sheet is the metaphor for rejection of sick people because it attests that he is afraid to see and to be seen by other people because of that his family becomes the jailer, they locked Gregor in from the outside. Though bereft of human contact, he is still concern for his family and at the same time mad at them for neglecting him. We can de – humanize our enemies by letting them realize their fault and shortcomings; in short we try to touch their conscience. Just like the way Gregor did in this story, he would have left his family out of love and taken their burden away. He returns to his room and collapses, finally giving in to his wound and starvation. I think he did that for one good reason to open the mind of his family that during the days of helping them and even sacrificing for their benefits, he didn’t even murmured or ask something in return coming from them. The Nazi treatment of Jews in the hand of Germany headed by Hitler was violent and so bloody. Hitler called the Jews as his enemies. Enemy defined as opponent or hostile nation. When we called somebody as an opponent it simply meant that we must do something that would hurt them, made them miserable and finally killed them. These are the objectives of Hitler to all his enemies. He pursued boycotts for the Jewish shops and businesses in ! 933; in 1934, the law banned all the Jewish form public places; plundered the Jewish teachers, civil servants and lawyers. Some of the maltreatments were removing the privilege to the Jews to become a German citizen; restriction of inter racial marriage;working and holding property in Germany; the assassination of many Jews and yet penalizing them. The reason why all of these things happened because of selfish desire and greediness. These are not good if many would suffer and be affected by covetousness and hatred. Hostility toward or discrimination against Jews as a religious, ethnic, or racial group is considered as the meaning of anti – semitism. The anti – Semitism in Europe was almost the same predicament of that in the Nazi, Germany. The hatred to the Jews that’s inside their heart becomes deeper and deeper. One example of this was a soccer match between the Israeli and Belgian national teams in Hasselt, Belgium, when Muslim fans waved Hamas and Hezbollah banners, and chanted: â€Å"Jews to the gas chambers! † and â€Å"Strangle the Jews! â€Å"(taken from the Cancer of Anti – Semitism in Europe). We can conclude in this simple illustration that the hatred developed in the past still lingers in the present situation. The suppression of one’s freedom and stepping onto the human rights of a person developed them in two personalities: they may become weak and dependent while on the other hand a person may possess a strong will to fight and defend himself from his enemies. According to Iris Bruce and Cassill, many interpretations of Franz Kafka’s writings have accentuated their psychological, religious, existential and moral dimensions and initiated a whole genre of the kqfkaesque which summon up associations of the grotesque and absurd but is rarely associated with a sense of humour. A ‘Kafkaesque,’ or Kafka-like situation being one of a strange or nightmarish quality become a part of the language from Kafka’s name. Generally, after World War II (and fundamentally due to the prominence of New Criticism and Existentialism in the literary academies during this time), a Kafka myth has crystallized which stresses Kafka’s existential anguish: interpretations, be they religious, phenomenological, existentialist, symbolic or allegorical, center on the psychology of the author, who is presented as being overcome by the sense of absurdity and alienation so prevalent in twentieth. Where this metaphysical approach in literary translation as a discipline has been most detrimental is in its emphasis on the â€Å"universal† rather than on specific textual elements, in the fascination with Kafka’s personal neuroses, in the mingling of psychological speculation and literary criticism which frequently led to a â€Å"false confusion of empirical and literary selves† and most importantly in its overall disregard of the playful and humorous dimension in Kafka’s texts. Conclusion Kafka’s wanted to share the reality that is happening into our life or others life particularly in our society nowadays. The Metamorphosis was all about Gregor Samsa. This story emphasized the way a man entered the world of despised and how discrimination created hostility. Even his own family tired to suppressed, despised and hurt him not only physically but mentally. The same with our society, the persons who are in the authority sometimes take advantage of everything even to the point that they stepped onto the human rights and privilege of a person. Loving something or someone because you profit from them will not be a good foundation because what if the proceed is gone, are you going to hate him or still love him? Conflict is always present if the environment that we used to stay with is not that aware that justice must be offer to everyone. Hurting people or even killing them without important reason, it’s simply because of selfish desire and hatred won’t make any sense in reality. Instead of doing those things, why don’t we learn to love and forgive them? In the end, we’re going to realize that love is the answer in any changes or metamorphosis that will happen in to our life. Love conquers hatred. Works Cited Peter Kuper Kafka’s The Metamorphosis http://www. randomhouse. com/crown/metamorphosis/ Walker, Jews in Nazi Germany http://www. schoolhistory. co. uk/lessons/germany/jews. html Understanding the Treatment of Jews during World War II http://www. dummies. com/how-to/content/understanding-the-treatment-of-jews-during-world-w. html Edward B. Donnell Jr. , Anti-Semitism in Europe Today http://www. state. gov/p/eur/rls/rm/38113. htm The Cancer of Semitism in Europe http://www. aish. com/societyWork/society/The_Cancer_of_Anti-Semitism_in_Europe. asp

Work-Life balance in Emirates Group Essay Example | Topics and Well Written Essays - 3000 words

Work-Life balance in Emirates Group - Essay Example This implies a point of equipoise or stability between two equally demanding things – in this case, work life and family life. People have a natural inclination to seek challenge and achievement as much as the desire to enjoy family relationships and the leisurely company of other people they have an affinity for. WLB is now considered as one of the most important qualities of the workplace, second only to the pay rate, because the physical and psychological stability of workers and employees directly impact on the performance of business firms. The usefulness of WLB in enhancing the operations of firms has been the topic of many academic researches, with varying outcomes. WLB has been known to impact positively on workers’ levels of job satisfaction and morale, reduce stress in both work and family life, enhanced organisational efficiency and effectiveness, and reduction in problems experienced in both areas (Kumar & Chakraborty, 2013). As beneficial as WLB sounds, the practice, while gaining legitimacy as a general principle, has received less than enthusiastic response at the execution level. WLB has not been effectively implemented in many organisations; the causes were determined in a survey conducted by Kumar & Chakraborty (2013), some of which are as follows: Negative or indifferent attitude on the part of top management Lack of faith of supervisors in the effectiveness of WLB benefits Uncertainty and reluctance among employees in adopting WLB in their work schedules Stringent work schedules Dictatorial behaviour of supervisors and top management, and their refusal to plan out flexible work schedules Unavailability and inaccessibility of WLB tools and techniques for workers to implement flexible work schedules. Unsupportive organisational culture for the implementation of WLB Bureaucratic procedures and delay in the formulation and execution of WLB policies and practices. Poor structural framework of the planned WLB programme Inconsistency in infrequency of interaction between management and workers in order to assimilate WLB as a transformative element in organisational life. The foregoing enumeration of impediments to what should be an effortless adoption of WLB is evident in many companies, and will likely continue to pose obstacles to its implementation. According to Smith (2010), however, each succeeding generation of workers tend to come to a greater understanding and acceptance of WLB, thus as they advance in the organization into the supervisory and managerial levels it is expected that the attitude of management towards WLB will also eventually change. So far, what has not appeared to be evident to management is the strategic usefulness of WLB as a competitive advantage, in terms of improved quality of work, improved job performance, ethical decision-making and long-term job satisfaction (Smith, 2010). Four areas for flexible work or leave arrangements Industrial Relations Victoria (IRV), a government sub-uni t under the Department of Innovation, Industry and Regional Development, is tasked with monitoring industrial relations in the State’s public and private sectors, and with supporting innovations to address the increasingly competitive business environments without engendering additional industrial (IRV, 2013). According to the IRV, a compilation of the research of several government agencies have identified 27 model family friendly clauses that were directly included in various collective agreements. The 27 clauses (which represented the best practices in the industry) may be classified into four based on their nature and subject. They are as follows Services – This refers to the provision of service options by the employer organisation for the

System Information Management, Assignment Example | Topics and Well Written Essays - 3000 words

System Information Management, - Assignment Example investment, deployment of the effective human resource, and sphosticated technology establshment are intended for facilitating corporate operations managemnt, effective data handling, decision making and resource handling. Furthermore, the implementation of information systems has become essential for every organization that handles overall organizational business information and management process. This report is aimed at analyzing and the IS/IT infrastructure implementation at Makkah Municipality. This report will provide the analysis of different aspects of the new information systems and information technology infrastructure implementation at Makkah Municipality. Makkah Municipality is one of the major city management departments in Middle East in terms of size and capacity. In addition, Makkah is the Islamic center for Muslims and it is most sacred place for Muslims. In month of Zill-Hajj more than 10 million people visit Makkah. This amount of visitor exceeds all through the year. The main roles and responsibilities of the Makkah Municipality are: In the effective management of all the above given problems we Makkah Municipality needs some new technology that is based on IS/IT. According to (Turban, Leidner, McLean, & Wetherbe, 2005, p. 18), an information system gathers, performs operations, stores, evaluates, and distributes information for a particular function. Similar to any other system, an information system consists of inputs (such as instructions and data) and outputs (reports, calculations). In addition, it carries out operations on the inputs by using technology like PCs and develops outputs that are delivered to users or to other systems by means of electronic networks (Turban, Leidner, McLean, & Wetherbe, 2005, p. 18). A management information system is a function or utilization of information system that offers management oriented reporting. These reports are typically developed or produced on a predetermined schedule and come out in a

Strategic Financial Management Master Essay Example | Topics and Well Written Essays - 3500 words

Strategic Financial Management Master - Essay Example Another school of thought believes that dividends are adverse for the average shareholder as they attract taxes and cause fiscal disadvantages. Last but not the least the third group lauds large dividends as positive signal to shareholders that all is well. So where does the modern shareholder satisfaction stand in relation to dividend policies This is the main issue which I will review in my paper below. This question relates to a consideration of the corporate dividend policy as to whether shareholders should be paid sufficient dividends or whether or not they are making sizeable profits on the stock market. Over the last half century academics have spoken in great depth over this issue and suggested conflicting theoretical frameworks to explain their points of view.(Frankfurter 2002).The problem is that these assertions often lack empirical depth to the criticism and stumble upon self contradictions in an attempt to explain corporate dividend behaviour.(Frankfurter 2002).Today academic opinion is divided as to whether dividends are attractive to shareholders and will have a positive impact in stock prices.(Frankfurter 2002 )Another school of thought contends that prices are negatively correlated with dividend payout levels.(Frankfurter 2002).The third view is that firm dividend policy is irrelevant in stock price valuation. (Frankfurter 2002).My paper will discuss and try to recon cile all these views towards a better theory and understanding of this issue. These views are best summed up as being based upon, the tax effect ( Litzenberger and Ramaswamy (1980),)Clientele effects explanations (Elton and Gruber, 1970), Agency theory explanations(Easterbrook 1984), Signalling models(John and Williams (1985), and psychological/sociological explanations (Frankfurter and Lane 1992). Frankfurter and Wood (2002) have even gone ahead to suggest that none of the dividend theories are unequivocally verified. Academics and theorists like (Adam Smith 1937) have recognised that there will always be agency costs related to taking care of shareholder priorities and controlling unruly management staff.(Corporate Governance issues). 2- Definitions and views from academics Dividend policy has a large bearing on agency costs and many academics have recognised this (Fama and Fama) but their belief that payments of large dividends would potentially compensate for the shareholders are often ignored during decision making in a company according to John and Kalay 1982 "Debt covenants to minimize dividend payments are necessary to prevent bondholder wealth transfers to shareholders .Although potentially substantial in precipitation of agency costs, its dividend policy is not a major source of bondholder wealth expropriation. In firms where dividend payouts are limited by bondholder covenants, dividend payout levels are still below the maximum level allowed by the constraints" (Frankfurter

NASA's Mission to Asteroid Bennu Essay Example | Topics and Well Written Essays - 1250 words

NASA's Mission to Asteroid Bennu - Essay Example Basically, the question being asked by the project, that they hope to answer is â€Å"can you go to an asteroid, collect material, and bring it back to earth?† (Algar, Jim â€Å"NASA Gets Go-Ahead To Build Spacecraft for Space Sampling Mission†)/ This paper will look deeper into the relevance of the mission to Bennu, the current status of the project, and finally, make conclusions about the possible success or failure of the space mission. This will be done by presenting the latest facts about the mission as taken from the latest news and scientific reports / updates related to the 2016 space mission. In order to fully grasp the importance of the mission to Asteroid Bennu, the public must first understand the key mission objectives of the project. All of which are crucial to the continued study of planet and life preservation on Earth. These mission objectives are: Having received financing and support from the government to implement the project, NASA has begun to develop the spacecraft that will be used for this unmanned mission. Known as the Origins, Spectral Interpretation Resource Identification Security Regolith Explorer, OSIRIS REx for short the unmanned explorer was approved at the Mission Design Critical Review at Lockheed Martin Space Systems Company in Ohio this April (Myles, Robert â€Å"NASAs Asteroid Sample Mission Gets Go-Ahead†). With a planned launch date in the Fall of 2016, the craft is expected to rendezvous with the 493 meter asteroid in 2018. OSIRUS - REx will have 5 onboard instruments meant to help with data and sample collection. A task that is expected to last at least one year. The samples and data will then take a 5 year trip back to earth where NASA will collect the samples and other onboard data for long term experimentation, research, and study well into the 2020s (Myles, Robert â€Å"NASAs Asteroid Sampl e Mission

Performance appraisal memo Essay Example | Topics and Well Written Essays - 250 words

Performance appraisal memo - Essay Example Most of the blenderized mixtures depend on fresh or frozen fruit, complemented with wheat grass, bee pollen, brewer’s yeast and ginseng that are optional boosters. Additionally, Jamba Juice Company also sells bread, gourmet soft pretzels and soups. During its tenure, the group was hard working and completed projects on time. In fact, it was the first group to deliver their proposal and this was because the group and its members were determined in meeting the deadlines they set. These accomplishments made the group build a Jamba Juice in the San Antonio Airport in time, efficiently and effectively. Still, there were some problems within the group that need some improvements. For instance, one of its members was not willing to work as a team. On the other hand, the individual was greedy, he wanted good grades for himself, and hence taking too much than he needed. To achieve more in their activities, the group member should be willing to work with others and also consider others in the activities involved. In the end, there was no cohesion between group members and the individual, therefore helping them to accomplish their projects. This led to the group’s successful completion in building a Jamba Juice Company in the San Antonio Airport (Perron & Dembecki,

Model in the projection of equity portfolio Essay

Model in the projection of equity portfolio - Essay Example Company owners, executives, as well as all stakeholders assess various aspects in strategic planning and analysis of uncertainty using modeling techniques. Using financial modeling, various stakeholders can engage in calculated risks and as such minimize failure dangers while at the same time keeping client rewards at optimal levels. The aim of literally any investment analysis is being able to come up with appropriate investment decisions and even advice others on the best ways in making their investment decisions. Consequently, there exists an inextricable link between equity analysis and management of equity portfolio. Nonetheless, even for those with sufficient comprehension of equity analysis, there are a number of mechanical portfolio management elements which need to be addressed prior to construction and running of the respective equity portfolios. As exercised with professionals, real-life application of hypothetical investment ideas involves looking beyond expertise and one ’s training levels. More often than not, managing a group of portfolios incorporates comprehensive detail attention, computerization of the information, as well as embracing the need for administrative effectiveness. Generally, the mechanics of portfolio management and more particularly projection of equity portfolios require a comprehensive and more object-oriented approach. In essence, managers who look after equity portfolios have to make a choice as to whether or not they adopt a given approach in management of the respective equity portfolios (Onyango, 2003, pp. 45). Investment firms often have strict defined parameters which they make use of in stock selection and general management of their investment. Background information In the recent past, managers and many other stakeholders have taken to portfolio modeling. Portfolio modeling has come to occupy a central place in the business landscape. Whether one is running a single portfolio or lots of them in a single equity investment product, style construction and maintenance of a portfolio model is a common procedure in management of equity portfolio. More often, portfolio models acts as the standards upon which individual portfolios are equated. In general, the managers of a portfolio assign a weighting percentage to each stock in the model of the portfolio after which individual portfolios are further modified to match against the assigned weighting mix. Usually, computerized portfolio models assisted by software such as Excel, SPSS, and matlab, among others. As an example, after running a mix of corporation analyses, departmental analyses, as well as macro-economic analyses, a manager make a decision as to whether or not to own a substantial weight of a specified stock. In essence, models help in obtaining of portfolio efficiency with regard to portfolio analytics. With models, a portfolio manager may need to get an understanding of may be 30 or 50 stocks owned in similar ratios in the entire po rtfolio, instead of 100 or 250 stocks owned in different ratios in over a thousand varying portfolio accounts. Analyzing 30 or 50 stocks can be easily applied to the entire portfolio by altering weights in the model of portfolio over a specified time. What makes portfolio models outstanding is that as the individual stocks vary with time, a portfolio mana

Response to Coments on DQ1 Smith and DQ2 Smith,WK2 Essay

Response to Coments on DQ1 Smith and DQ2 Smith,WK2 - Essay Example A way to determine whether the debt balance of a company is bad is by calculating the debt ratio and the current ratio. The debt ratio shows the ability of a company to pay off its long term debt, while the current ratio demonstrates the ability of a firm to pay off its short term debt. DQ2 The use of cash based accounting is more suitable for small operations that are highly dependent on the short term income to stay in business. An example would be a hot dog vendor. The hot dog vender uses the weekly sales to purchase more material to operate the next week. The hot dog vendor collects all his sales in cash. The majority of public corporations use accrued based accounting because they deal with large sums of money and numerous transactions. The existence of credit does not work in accounting unless the firm used an accrued based accounting system. In cash based accounting credit is not existent. Despite the differences between cash based accounting and accrued based accounting the a pplication of both systems will lead to the same accounting results. For example if the net income of a company is $10,000 under cash based accounting the use of accrued based accounting will also give a net profit of $10,000.

Superman, Thor and Batman Essay Example | Topics and Well Written Essays - 2000 words

Superman, Thor and Batman - Essay Example Studying these characters, how they were created and even the period when they were made, one can discover the reason behind their creation and possibly have a better understanding of the culture during that time. In America where one can find the movie capital of the world, superhero fans have tried to interpret what these characters, specifically Superman, Batman and Thor may want to stand for in relation to their homeland. Superman is one, if not, the most famous superhero of all time. The character’s popularity reaches outside the United States. At costume parties or children’s birthdays, the Superman theme is always a favorite. There is something in the man’s personality and overall appearance that has made people, especially Americans, a fondness. It is no wonder then that Superman who fights for â€Å"Truth, Justice and the American Way† has been believed to symbolize America more than any other super figure. The Superman everyone today is familiar with was supposedly influenced by not only one but several figures in the lives of then-teenage creators Jerry Siegel and Joe Shuster. A storyteller and an artist, respectively, Jerry and Joe, initially created an image in the likeness of philosopher Nietzsche’s Superman. ... Hugo Danner, a fictional character with superpowers in a book the boys were fond of, was said to have given inspiration to Superman’s strengths. There was also the likeness to the biblical figure Moses. The deliverer of the Jewish people (Siegel and Shuster were of Jewish origin) was also left by his parents to save him, adopted by others and lived a double life. Some people say that mild-mannered Kent and the indestructible Superman were a representation of the Jewish people’s meekness and their hope of saving their families from the Nazis. Everyone knows the story of Superman. An alien sent to Earth by his parents, the boy is adopted by the Kents, a middle-class couple who lives in the countryside. The adoptive parents raise him without encouraging the use of his supernatural powers. As an adult, he is depicted as a humble, unassuming and shy newspaper reporter. He wears black, unfashionable, corrective glasses and walks with his shoulders slouched and his hair parted to the side. This is Clark Kent, Superman in his â€Å"human† form. At the sound of trouble, Clark changes into a charming, physically impressive and powerful man who helps anyone in distress. Although he appears to be invincible, he is weakened by kryptonite, a kind of stone that comes from, ironically, Superman’s own home planet, Krypton. Superman can be viewed as an epitome of America’s dominant figure in the world. Similar to Superman, the country is the current super power. It uses its resources and strength to protect its own and the other countries, big or small, who ask for help. It does not condone evil doings. The world was witness to America’s strength when it dominated in wars against Japan, Korea, Spain, Great Britain and Iraq. Like how people in Metropolis look up to

African Americans Essay Example for Free

African Americans Essay African Americans have a unique history as well as culture. Their history in the United States is greatly influenced and shaped by the events in the last three centuries. A period that would shape their destiny, their interactions as well as their orientation to most important events in life. The United States census figures put the number of African Americans at over thirty-eight millions in 2005. Of this population, over 55% of them reside in the metropolitan areas with cities like Chicago and New York being the homes to a huge majority of African Americans A close look at the African Americans in relation to the rest of their white counterparts reveals that they are disadvantaged in various aspects. This can only be understood by focusing at the underlying causes of this, key being the century’s discrimination and oppression meted out against the blacks by the successive regimes up to the period that the civil rights movement stepped up its calls for equality and political rights. African Americans had been for long subjected to slavery especially in the southern states. The end of slavery brought forth systemic discrimination where they were treated as second class citizens especially after the introduction of the Jim Crow laws that institutionalized racism. This is what is seen to be the cause behind the impoverished lot amongst the African Americans with 24. 7% of this population living in abject poverty. The group also remains disadvantaged in the education sector, health, housing as well as having the highest crime rates in the United States. Since the enactment of civil rights legislation, the African Americans population has made considerable steps towards improving their economic status largely narrowing the huge discrepancies that exist. This has been marked by the expansion of the African American middle class. Unlike in other ethnic groups like the white; there is parity across the gender amongst the blacks. Income levels in America are tilted to the disfavor of African Americans. This is largely seen as being linked to the inability to access other vital resources such as education and jobs. Speculative figures have it that over three quarter of African Americans aged above the age of 25 have not gone to college and hence do not possess college diplomas. By the turn of the century, over a third of the African American population living in the big cities was without employment compared to their white counterparts; this figure has not changed much (Brandon S, 1984). Life expectancy of the African American group compares unfavorably with that of the whites a fact exacerbated by the lack of medical and proper provision of health facilities. With a significant proportion of African Americans lacking medical care and proper provision of health facilities; with a significant proportion of African American having a low level of income and being unemployed, and with the united states lacking a universal health care system , African Americans are badly placed in terms of health facilities access. They are also at a higher risk of succumbing to chronic diseases as well as pandemics such as HIV aids. Statistics have it that of all people diagnosed with HIV/AIDS between 2001 and 2005, over half of them were African Americans. Cities that contain large populations of African Americans such as Washington DC contain the highest rates of HIV infections. African Americans have maintained a deep sense of religiosity this has been passed on from the days of slavery. Known as black churches, they have played a pivotal role in the struggle for blacks to acquire and consolidate civil and political rights. Majority of the evangelists have ended up as political figures playing a crucial role in the American civil rights movement.

The Value Chain Analysis: Sony

The Value Chain Analysis: Sony According to Porter (1985, cited in Gershon and Kanayama, 2002:115), strategic planning is a set of managerial decisions and actions that determine the long-term performance of an organisation. Lasserre (2003:33) agrees with this suggesting further that a company business strategy is a set of fundamental choices which define its value proposition to the market, how it intends to build and sustain a competitive business system and how it organises itself. This means in order for Sony to regain its global competitive advantage it has to develop effective business strategy, which will provide the organisation with clear direction, tactics, improved communication and as a result better organisational growth and performance (Yavitz and Newman, 1982:10). However, in order to develop and implement right strategic decision Thompson and Martin (2005:138-141) suggest that organisation have to pay attention to internal and external analysis. Conversely, they suggest that whilst analytical frame works can provide valuable insight into many issues, by themselves they cannot provide the answers. Consequently, they provide a base for evaluating the effectiveness of current and proposed strategies. Internal Factors/Analysis In order to develop the right strategy the organisation has to take into account several internal factors that may affect business environment. (Thompson and Martin, 2005:145-155) For example, analysis of strengths and weaknesses focuses on internal factors that may give Sony certain advantages in meeting the needs of its target markets, such as ability to (re)act to environmental influences quicker than competitors. (SWOT, PESTEL, Porters 5. Appendix 1) Culture For example, understanding core competencies and culture will enable Sony to boast its organisational performance and thus increase its market share. Hofstede (1991:50) agrees with this suggesting that strong culture enables employees to see the goal alignment and thus motivates them to higher levels of performance, as shared values make people feel good about the organisation and commit their capability and potential sincerely for the company, as a result, creating competitive advantage for the organisation. Deal and Kennedy (2000:3-20) agree with it, suggesting that the more highly successful companies are those that exhibit a strong organisational culture. They also identify several component parts to a solid organisational culture, including values, heroes, and rites and rituals. For example, values are the intrinsic beliefs that members hold for an organisation. It can be said that Sony displays many features of a traditional Japanese company, for example there is a sense of fam ily and/or missionary passion that is decidedly Japanese in approach. Most of Sonys top officials are also Japanese and together they share in the companys collective mission. Sony also carefully grooms its future leaders over many years of service. However, writers like Bennis (1986, Cited in Armstrong, 2006) oppose that the single most important determinant of corporate culture is the behaviour of the chief executive officer, as the CEO is the person most responsible for shaping the beliefs, motivations and expectations for the organization as a whole. The importance of the CEO is particularly evident when it comes to the formation of business strategy, for example, CEO Nobuyuki Idei has embraced the principle that digital communications must be at the centre of Sonys competitive business strategy (Digital Dream Kid, 1996). Disregarding of contrasting views, the above suggests that it is crucial for Sony to maintain and take pride in its organisational culture, as it will provide Sony with competitive advantage through attracting, motivating and retaining the best talent, promoting organisational values and believes, as well as promoting the spirit of innovation (SWOT, Appendix 1), as it will help the company to grow and develop, and thus achieve further organisational development. Resource Based View In order for Sony to achieve competitive advantage and organisational development, it may be suggested the organisation applies the Resource Based View (RBV) to strategy, which deals with the competitive environment facing the organisation taking an inside-out approach (Johnson et al, 2005:114). Henry (2008:129-150) agrees with this suggesting that RBV emphasises the internal capabilities of the organisation in formulating strategy to achieve a sustainable competitive advantage in its markets and industries, suggesting further that in some cases organisational capabilities may allow it to create new markets, such as Apples iPod and Toyotas hybrid cars. This means that by analysis internal capabilities Sony can determine the strategic choices it can make in competing in external environment. Thus, for example, analysis (SWOT, PESTEL and Porters 5, Appendix 1) suggests that Sonys strengths lies with its brands strong name and reputation for innovation and excellence, thus it may be sug gested that by reducing portfolio of electronic goods and focusing attention on fewer products and new technologies, for example in TV market, organisation may once again become market leader. However, Henry (2008:150) critiques that RBV shows very little on the vital issues of how resources can develop and change, or become redundant over time. Priem and Butler (2001, cited in Henry, 2008:150) agree with it, proposing that RBV lacks detail and therefore is difficult to implement. Latter suggests that although RBV may offer a good insight into current resource situation, other analytical tools have to be used to ensure a correct picture of internal environment, such as, for example, Value Chain Analysis. Value Chain Analysis Porter (1985, cited in Thompson and Martin, 2005:251) argues that in search for competitive advantage a firm must be considered as part of a wider system suppliers, firm, distributors, consumers a supply chain, which is a process by which cost savings and service differentiation can be achieved. As part of the process of evaluating the strategic competences of the organisation a resource audit can provide substantial insights into the competitive possibilities open to the organisation. The model against which to do this is Porters value chain (Appendix 2). Thus, value chain analysis may provide Sony with a framework for evaluating relative significance of various activities undertaken by an organisation, from the perspectives of cost and value added (Robson, 1994:41). By applying the results of SWOT and Porters 5 Forces Analysis to Value Chain of Sony it can be suggested that the organisation focuses on high-quality/high cost exclusive products, offering its customers excellent fol low-up Service afterwards. This suggests that Inbound Logistics and the retail Operations must be tightly managed to keep the cost of production and delivery down, and thus offer a higher profit margin. SWOT and Porters 5 also suggest that Technology Development and Engineering would have to be reorganised in order to be able to keep up with progress of the industry, and thus competitors. In order to achieve this, it could be suggested that Sony should reduce the portfolio of extensive product range and focus attention on best-selling and most promising products. Robson (1994:45-48) suggests latter can be achieved by applying the Boston Matrix to product portfolio, as well as undertake the analysis of Core Competences offered by Prahalad and Hamel (1990, cited in Robson, 1994:46-48) (Appendix 3). Similar to Inbound Logistics, it could also be suggested that Sonys Outbound Logistics, such as warehousing and distribution, would have to be re-organised in order to achieve most cost eff ective outcome. SWOT, PESTEL and Porters 5 also suggest that Sony possess brilliant opportunity for Marketing and Sales, as the organisation owns Sony Entertainment and thus, is able to use media productions as an extensive free advertising for its product range. For example, using Sony laptops and other gadgets in new 007 blockbuster, to re-introduce the organisation to world-wide audience, as well as indirectly advertise its products. The analysis of Support Activities, based on the outcome of SWOT, PESTLE and Porters 5 also suggests several recommendations. For example, being global organisation, Sony suffers from a duplication of workforce (Human Resource Management). Thus, to reduce replication it could be suggested Sony performs major reductions in global workforce (Ferrari, 2012), which could potentially lead to easier flow of communication, and thus, quicker strategic and general day-to-day responses, and as a result, help return company to profitability. For Technology Development and Engineering analysis suggests that it may be worth drastically reducing product portfolio (particularly portfolio of TV models). This could potentially drastically improve Research and Development, allowing it to keep up with technological progress, and giving it time to work on new technologies. Baring in mind the above analysis, Henry (2011:112) suggests that organisations value chain activities represent the cornerstone of competitive advantage. And recommends that its value chain should not be seen as a series of independent activities, but as a system of interdependent activities, where each value chain activity is related to the others by way of linkages in the value chain. For example, Toyotas just-in-time production reduces inventory and material handling. Therefore Sonys competitive advantage can derive not only from the activities themselves, but also from linkages between its different activities, internal, as well as external. (Henry, 2011:112) External Factors Stakeholders and Corporate Social Responsibility Foot and Hook (2008:23) suggest that there is a wider group of stakeholders that may affect business strategy. For example, apart from the shareholders, workforce, suppliers and customers, organisation may also be affected by local communities, government, and pressure groups. As Johnson et al (2005:585) suggest it is impossible to meet the demands of all the stakeholders, as they invariably conflict. This suggests that Sony must prioritise stakeholder demands and thus, balancing out competing requirements create a strategy that will satisfy main stakeholder groups, will be in line with the Corporate Social Responsibility (CSR) of organisation, and in its turn relate to the culture in which the organisation is operating. Thus for example, as it is the core corporate responsibility of Sony Group to the society to pursue its corporate value enhancement through innovation and sound business practice, the organisation conducts CSR activities with a focus on sustainability in two areas t rying to ensure sustainability of its business operations, as well as striving to contribute to the realisation of a sustainable society. For example, Sony has established effective systems for corporate governance and compliance to ensure sound business practices, such as, eco-friendly product cycle from the materials Sony sources, recycles and reuses in manufacture, to the development of smaller packaging that takes less space for more energy-efficient transportation. Sony also believes in the importance of fostering diverse and lively workplaces and employees with a high level of social awareness, which in effect contributes to employee loyalty and thus, reduces staff turnover, which in its turn contributes to competitive advantage of organisation. (Sony, 2012) Conclusions Business strategy is a set of vital choices which define its value proposition to the market, how it intends to build and sustain a competitive business system and how it organises itself. In order to gain competitive advantage organisations may use internal and external analytical tools that will help build a good picture of environment of given organisation. These tools, such as SWOT, PESTEL, Porters 5, RBV and Value Chain suggest that Sony remain a reputable brand, and providing a new strategy and allowing restructuring of the business, may help it regain its competitive advantage in global market. Sony also fully recognises that its business activities affect both society and the environment in direct and indirect ways, thus takes steps to minimise that impact to the best of its ability. Recommendations In order to regain its competitive advantage, it can be proposed that Sony undertakes a drastic restructuring of its business model. For example, it can be suggested that the company will benefit from either minimising the amount of factories across the globe and removing factories from areas affected by hurricanes and floods in order to minimise production costs. Conversely, as more value-added component sourcing, production and logistics may be outsourced to contract manufacturers and trading partners. Portfolio of goods (especially electronic goods, and TV market) have to be reduced, allowing RD to focus on bringing excellence to Sonys customers, keeping up with technological advancement and boosting competitiveness of products. The television business may also enhance integration with Sony ´s mobile products and network services, as it aims to offer unique user experiences, drive hardware differentiation and enhance the attractiveness of Sony ´s television line-up. Now owning 100% of Sony Ericsson, with own tablets, VAIO PCs and TVs, Sony can increase product appeal by offering its customers special programmes only available to share between those Sony products (to gain market-share of Apples iPhone, iPod and Apple Mac). A previous culture of inflexibility in product demand forecasting needs to be replaced with product demand sensing and response capabilities linked to constantly changing consumer needs and market trends. Through developing these new strategies, accelerating selection and focus, Sony can invest in core and new businesses which could help to transform organisation into a more profitable structure with competitive advantage against its competitors. References Books Armstrong M., (2005), Strategic Human Resource Management: A Guide To Action, 3rd Edition, London: Kogan Page Deal T. E. and Kennedy A. A., (2000), Corporate Cultures: The Rites and Rituals of Corporate Life, New York: Perseus Books Publishing Foot M. and Hook C., (2008), Introducing Human Resources, 5th Edition, Essex: Pearson Education Press Garratt B., (1995), Developing Strategic Thought: Rediscovering the Art of Direction-Giving, Berkshire: McGraw-Hill Book Company Europe Henry A. E., (2011), Understanding Strategic Management, 2nd Edition, Oxford: Oxford University Press Hofstede G., (1991), Cultures and Organizations: Software of the Mind, London: McGraw-Hill Johnson G., Scholes K. and Whittington R., (2005), Exploring Corporate Strategy: Text and Cases, 7th Edition, Essex: Pearson Education Limited Robson W., (1994), Strategic Management and Information Systems: An Integrated Approach, London: Pitman Publishing Tapscott D., (2009), Grown Up Digital: How the Net Generation is Changing Your World, London: McGraw Hill Thompson J. and Martin F., (2005), Strategic Management: Awareness and Change, 5th Edition, London: Thomson Yavitz B. and Newman W. H., (1982), Strategy in Action: The Execution, Politics, and Payoff of Business Planning, London: Collier Macmillan Publishers On-line Journals, Articles and Websites Black J., (2003), Big Music: Win Some, Lose a Lot More?, BusinessWeek Online, Business Source Online web.ebscohost.com, accessed on 10 November 2012 British Broadcasting Corporation (BBC) News, (27th October 2011), Sony buys the rest of mobile phone firm Sony Ericsson www.bbc.co.uk, accessed on 4 November 2012 British Broadcasting Corporation (BBC) News, (21 May 2009), Sony to halve number of suppliers www.bbc.co.uk, accessed on 22 November 2012 Consumer Electronics, (30th July 2009), Sony Is Still Feeling the Recessions Bite, Bloomberg Business Week www.businessweek.com, accessed on 4 November 2012 Corporate information/Environmental (1 April 2012), Sony news.sel.sony.com, accessed on 7 November 2012 Corporate Social Responsibility (2012), Sony www.sony.co.uk, accessed on 29 November 2012 East J., (2007), The Electronic Industry: The Power to Change, Portable Design, 13 (10) pp 16-19, Business Source Complete web.ebscohost.com, accessed on 7 November 2012 Fatakia K., (3rd February 2012), Sony Corporation: Strengths, Weaknesses, Opportunities, Threats www.dailyfinance.com, accessed 2 November 2012 Ferrari, B. (2012), Descartes Systems to Acquire Europe Based Infodis, Supply Chain Matters, 04 June 2012, [Online]. Available at: www.theferrarigroup.com, accessed on 20 November 2012 Glendinning L., (4th November 2012), The Telegraph, Sony PlayStation Store: why the redesign matters www.telegraph.co.uk, accessed on 4 November 2012 Hall R., (1992), The Strategic Analysis of Intangible Resources, Strategic Management Journal, 13 (20), pp135-144 http://web.ebscohost.com, accessed on 19 March 2010 Kosner A. W., (25th June 2012), New Sony Google TV Set-Top Box Disappoints, Increases Desire for Apple TV www.forbes.com, accessed on 3 November 2012 Kosner A. W., (28th June 2012), Google Nexus Q: Simple, Sleek, Sexy And Made In The USA www.forbes.com, accessed on 3 November 2012 Our Working Culture (2012) Sony www.sony.co.uk, accessed on 26 November 2012 The Times 100, (no date), Responding to changes in the market environment: A Jessops case study businesscasestudies.co.uk, accessed on 9 November 2012 Singh P. P., (13th October 2011), BBC News, Can Sony succeed where Sony-Ericsson partnership failed? www.bbc.co.uk, accessed on 4 November 2012 Sony Announces Revision of Consolidated Forecast for the Fiscal Year Ended March 31, 2012, (10th April 2012), Sony www.sony.net, accessed on 4 November 2012 Sony Annual Report, (2009), Sony www.sony.net, accessed on 4 November 2012 Sony Global Supply Chain Management (2012), Sony www.sony.net, accessed on 22 November 2012 Tang H., Misra R. and Shanholt E., (2012), Sony Corporation, Griffin Consulting Group Economics-files.pomona.edu , accessed on 20 November 2012 The Video Game Industry, (no date), Social and Environmental Factors sites.duke.edu, accessed on 5 November 2012 Yasu Mariko, (1st November 2012), Sony Posts 7th Straight Loss as TV Sales Slump on Economy www.businessweek.com, accessed on 3 November 2012 Bibliography Ciborra C. and Jelassi T., (1995), Strategic Information Systems, Chichester, West Sussex: John Wiley Sons Ltd BBC News, (27th October 2011), Sony boss Sir Howard Stringer on Ericsson purchase www.bbc.co.uk, accessed on 4 November 2012 Houlden B., (1993), Understanding Company Strategy: An Introduction to Thinking and Acting Strategically, Oxford: Blackwell Publishers McCurry J., (30th July 2009), Sony sales plunge by a fifth in two months, The Guardian www.guardian.co.uk, accessed on 4 November 2012 Stacey R., (1993), Strategic Management and Organisational Dynamics, London: Pitman Publishing SWOT Analysis Strengths Over the years Sony has built a strong, reputable and well-known brand. This is highlighted by the fact that the company was labelled in a 2011 survey as Asias most valued brand (Fatakia, 2012) Sonys culture is aimed at nurturing talents, where organisation helps its employees to foster working practices that help to regularly replenish energy and build physical, emotional and mental resilience. Sony culture emphasizes a spirit of freedom and open-mindedness, and a fighting spirit to innovate as well as takes a Worksmart approach to help employees achieve an acceptable work/life balance (Sony, 2012) The company has established a broad sales network, registered in approximately 200 countries and territories (Tang et al, 2012) One of Sonys greatest strengths is their ability to produce innovative, quality products, or as Sonys web page states Sony innovations ´ have become part of mainstream culture (Sony, 2012) The company is synonymous with technological excellence and has a rich heritage of technological expertise. Besides creating the VCR, Trinitron, and Walkman, the company facilitated in development of the magnetic recording tape, the compact disc, and the Blu-Ray disc, used today as a medium for high-definition video playback. Its latest innovation, a Crystal LED television, was well received at the Consumer Electronics Show in Las Vegas (Fatakia, 2012) Out of all its products, Sonys success with the PlayStation is most notable it has been successful since launch, and still sees tremendous consumer demand as by 2000, it was accounting for a third of Sonys operating profits (Glendinning, 2012) Sony has a number of Japanese and foreign patents, and is licensed to use a number of patents owned by other organisations. Sony considers their overall license position beneficial to their operations (Tang et al, 2012) The release of PlayStation 2 triggered a high rise of shares ($300 per share, an all-time high) Sony has a strong position in the entertainment industry with Sony Music and Sony Pictures, which has been beneficial to the company by off-setting losses in its electronics/consumer-products division Sony also provides financial services, such as life and auto insurance and banking, that accumulate Weaknesses The high cost of media production, especially in its television business, as well as loss of market share to cheaper manufacturers, such as LG and Samsung, has affected the companys pricing strategy. In addition, instead of forecasted loss of $2.7 billion during the fiscal year that ended 31 March, the organisation is now expecting to suffer a loss of $6.3 billion due to cumulative losses of consolidated deferred tax returns and additional tax expense for the transfer of profits between Japan and selected Sonys overseas subsidiaries (Sony, 2012) While diversifying into too many business segments, Sony has shifted its focus from its core competency making great consumer-electronic products. This has resulted in a distortion in Sonys brand. Apple, which is also in the consumer electronics space, has managed to focus on just a few products, build competency, and make them incredibly successful (Fatakia, 2012) Furthermore, the product lines have few connections between themselves, and therefore do not generate many network externalities or cost advantages (Tang et al, 2012) The current financial performance of organisation is weak, showing high liquidity risks, decreasing sales, slowly recovering profitability, low operating efficiency, underperforming stocks, and low investor confidence (Tang et al, 2012) The current management team has been relatively conservative, with departments working in silo, which led to little, if no flow of communication. While restructuring has frequently been implemented, it was usually done on a small scale. Strategically significant mergers and acquisitions were seldom conducted (Tang et al, 2012) As Sony expanded into more segments and geographic locations, they became more sensitive to exchange rates and interest rates that are exogenous factors out of Sonys control (Tang et al, 2012) Japanese laws and the countrys lingering culture of lifetime employment limit the ability of Japanese firms to close plants and shed jobs, thus resulting in incapability of the organisation to quickly adapt to fast-changing market environment, thus resulting in further financial losses Opportunities The company has the opportunity to enter the healthcare-imaging sector, as in September Sony agreed to invest 50 billion yen in Olympus, the worlds biggest maker of endoscopes. Under agreement, Sony will by 11.46% stake and become the largest shareholder in two steps. The two companies are planning to set up a joint venture by December 31 to develop, make and sell new endoscopes and other medical devices (Yasu, 2012) Sony Google TV, and particularly Nexus Q has a potential of regaining its TV market as, in comparison to Apple TV, Roku and similar products, Q is the only product that combines streaming internet content to a TV with a built-in 25 watt-per-channel sound amplifier that can run two sets of speakers. And its the only streaming TV product that allows itself to be controlled by more than one device simultaneously. And one thing Google has been making a point of saying about the Nexus Q, that Apple cannot say about any of its products, is that it is Designed and Manufactured in the USA, thus making it more attractive to those customers who are concerned with the ethics behind product manufacture (Kosner, 2012) As the organisation wanted to integrate its phone division with its mobile games machine and tablet computer units, the purchase of full control of mobile phone maker Sony Ericsson may give Sony the opportunity to act independently and innovate its smart phone and tablet market. The transaction that also includes patent, which is an important component of success in the smartphone arena, as it can give organisation the right to block sales of the competitors and vice-versa. With already established network of marketing, distribution and retail channels, it may help push through the products much quicker (Singh/BBC News, 2011) The company can take advantage of its movie and music business along with its experience in the gaming space to deliver value-added content to support and integrate its product line. It has talked about doing this with a four-screen strategy, which looks like a good concept (Fatakia, 2012) Kazuo Hirai, appointed CEO of Sony in February 2012, might bring changes to the company. His expertise in computer entertainment and PlayStation might bring more focus to the firms product lines (Tang et al, 2012) Threats As many of Sonys manufacturing plants are located in Japan, area that is prone to tsunamis and earthquakes, the company faces a constant threat of damage to the facilities and machinery and thus, disruptions in production line, which may lead to further loses of operating profit Organisation faces strong price competition from competitors such as Samsung, LG and even Tescos own electrical goods line Technika, who are gaining attraction from customers with lower-cost products such as televisions and mobile devices (Fatakia, 2012) Introduction of Apple TV, interactive television increased falling demand on Sony products as consumers switch to Apple (Kosner, 2012) Foreign exchange rate fluctuations can affect financial results because a large portion of Sonys sales and assets (more than 75%) are denominated in currencies other than the Yen (Tang et al, 2012) Threats from hacking attacks. Hacking attack on the companys PlayStation network resulted in leakage of confidential customer data, such as credit-card information As the global recession continues, consumers are no longer spending much money on electronic products, as they now have smartphones to satisfy most of their needs (Kosner, 2012) Sonys business restructuring and transformation efforts are costly and may not attain their objectives (Tang et al, 2012) PESTEL Analysis Political Businesses can be affected by many aspects of government policy. In particular, all businesses must comply with the law. They must also consider the impact of any forthcoming legislation on their operations. Subsequently, this may require taking action before the legislation comes into effect. (The Times 100) One issue that affects manufacturers and retailers of electronic goods is the disposal of these products. Thus, recycling is high on the public agenda. There are government initiatives to promote more recycling, which are often backed by legislation. (The Times 100) As the global recession had a negative effect on the economy of many countries, governments had to adopt a nationalist approach in an effort to stabilise their domestic economy and become more self-sufficient, by for example, raising trade barriers, such as taxes, tariffs and quotas. (Business Europe, 2009) This means Sony, alongside other multinational organisations was affected by decrease in exports and/or heavier import/export costs which may have reduced its global profits. The Government also has the power to change minimum wage, tax, VATs and other expenditures. This means even higher expenditures that, as the report shows, may be critical for the bottom line of the organisation. (Sony, 2012) Economic The global recession has been a threat to Sony since 2009, as Consumer Electronics for Bloomberg Business Week reported on July 30, Sony posted a $271 million operating loss for the April-June quarter, down from a $772 million profit in the same quarter a year ago, revenues dropped 19%, to $16.8 billion with the forecasts for an operating loss of $1.16 billion in the fiscal year through March 2010. (Consumer Electronics, 2009) Additionally, the strength of the yen against the dollar and the euro has reduced Sonys exports making products less competitive and as a result reduced organisational revenue, especially in overseas markets (Sony Annual Report, 2009; Hall, 1992) Social One of the most important social trends of new generation is the development and increase in use of internet activities, such as online shopping, social networks and media on-demand. The Net Generation also demands its products to perform fast (Tapscott, 2009:15), and be of high-quality and multi-functional (Sonny Annual Report, 2009). As the new generation likes to be creative and be able to personalise its products, the technology have to offer high quality art applications that will allow them to do so. As video games are gaining an enormous place in society most kids are exposed to video games in some sort of capacity growing up, Sony have to ensure that their technology does not lose competitive advantage to their opponents, such as Wii (Nintendo) and/or Xbox (Microsoft). Technological The electronics industry is very well known for the fast development of the cutting edge products that facilitate our everyday life and business. Introduction of the internet, smartphones, as well as recent development of TVs that are connected to the internet shows a direction for smart, multi-functional devices. This means, in order for Sony to keep up with its main competitors, such as Apple, the organisation has to adopt the same strategies and be able to offer its customers high quality multifunctional products. Environmental Electronic devices that improve our quality of life are at the same time posing a great threat and contribute immensely towards global warming (East, 2007). Almost 50 million tons of electronic products are disposed of each year, and the figure continues to grow as the lifespan of new devices continues to fall (The Video Game Industry). As a leader in the consumer el

Economic Factors And Consumer Durable Goods

Economic Factors And Consumer Durable Goods INTRODUCTION TO CONSUMER DURABLE GOODS In  economics, a  durable good  or a  hard good  is a  good  that does not quickly wear out, or more specifically, one that yields  utility  over time rather than being completely  consumed  in one use. Items like  bricks  could be considered perfectly durable goods, because they should theoretically never wear out. Highly durable goods such as  refrigerators,  cars, or  mobile phones  usually continue to be useful for three or more years of use,[1]  so durable goods are typically characterized by long periods between successive purchases. This industry includes all those goods which are durable i.e. products whose life expectancy is at least 3 years The consumer durables industry can be broadly classified into two segments: Consumer Electronics and Consumer Appliances. Consumer Appliances can be further categorized into Brown Goods and White Goods. The key product lines under each segment are as follows. White Goods Kitchen Appliances Refrigerators Washing Machines Air-conditioners Speakers and Audio Equipme Sewing Machine Watches And Clocks Kitchen Appliances / Brown Goods Consumer Electronics Mixers Grinders Microwave Ovens Iron Electric Fans Cooking Range Chimneys Electronic Fans Consumer Electronics Mobile Phones Televisions MP3 Players DVD Players iPad Personal computers Audio and video system Camcorders Common example of customer durables in the possession of most households is appliances. These items may include ovens, refrigerators, toasters, and gas or electric water heaters. Consumer durables of this type are intended for use on a continuing basis, and often are sold with some type of warranty or service contract that helps to ensure the appliance will continue working for an appreciable period of time. The family car is also understood to be among the various consumer durables owned by many households. Considered a major investment by many consumers, the expectation is that the vehicle will remain operational for at least the amount of time it takes for the consumer to pay off any loans associated with the acquisition. Further, consumers anticipate that the vehicle can be utilized on a regular basis without fear of being destroyed by the frequent usage. ECONOMY ANALYSIS Economic analysis deals with the analysis of forces operating in the overall economy. In the security analysis, the expected course of the economy must be enquired into because overall economic conditions and economic activities affect corporate profits and investors expectations and thereby affect the security prices in the capital market. Economic analysis has an important role in the investment decisions. If the economic analysis shows strong and vibrant economic conditions, investors will buy the shares in expectation of earning capital profits at a later stage. An expectation of sagging economic conditions can lead to lower corporate profits and the security price will fall resulting from the selling pressure. The economic analysis helps to identify whether the economic climate is conducive or not for the growth of the business in general. It is imperative to note that when economy grows, all industries are expected to benefit. In case of weak economies, industries struggle to survive. PORTERS FIVE FORCE MODEL ECONOMIC FORECASTING: An investor is interested in forecasting the expected performance of the economy in general and its effect on the performance of a particular industry or on a particular company. Thus, economic forecasting gains a place of prime relevance in the economy analysis. The outlook for the industries and companies depends on the outlook for the economy. A security analyst may start with the forecast of Gross Domestic Product (GDP) which is a measure of national income and is defined as the value of total goods and services produced in the economy in one year. An analysis of the components of GDP and how these components are related to the performance of industries and companies is also required. Economic Factors to be Considered before Investing in Consumer Durable Goods GDP (GROSS DOMESTIC PRODUCT) Gross domestic product  (GDP) is the  market value  of all officially recognized final goods and services produced within a country in a given period. GDP  per capita  is often considered an indicator of a countrys  standard of living The Gross Domestic Product (GDP) in India was worth 1847.98 billion US dollars in 2011, according to a report published by the World Bank. The GDP value of India is roughly equivalent to 2.98 percent of the world economy. Historically, from 1960 until 2011, India GDP averaged 368.84 billion USD reaching an all time high of 1847.98 billion USD in December of 2011 and a record low of 36.61 billion USD in December of 1960. The gross domestic product (GDP) measures of national income and output for a given countrys economy. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time. Change in GDP results on account of: Change in availability of resources. Change in usage of these resources, and Change in efficiency with which factors of production are used. GDP indicates the performance of the economy during the period. An increasing trend in GDP tells about an expanding economy which provides a lot of opportunities to the firms to increase the level of activities and to increase the earnings. There are two other measures, Gross National Product and Net National Product which are also indicators of economic activity. EMPLOYMENT Employment  is a  contract  between two  parties, one being the  employer  and the other being the  employee. The demand for consumer durables has been rising with the increase in disposable income coupled with more and more consumers falling under the double income families. Also, the growing Indian middle-class plays a major role in increasing the demand. This, along with a fall in the prices of durable goods mainly due to the advancement of technology, easy import of components has led to an increase in the consumption expenditure on durable goods INTEREST RATES Interest rates directly affect the cost of funds to the industry. Higher inters rates increase the cost of funds and thus squeezes the income of companies. On the other hand, a lower interest rate reduces the cost of funds resulting in higher profit. There are several reasons for change in interest rates such as monetary policy, fiscal policy, inflation rate, etc. Irrespective of the reasons for change in interest rates, the investment pattern in the economy is affected by the change in interestrates; the interest rates affect the opportunity cost of the investors also, thus affecting the bond and equity prices. So, the changes in interest rates have repercussion on the profit of the companies as well as on the market prices of securities. There are several indicators of interest rates. These are interest rates in the call money market or the bank rate or the prime lending rate of the lending institutions. Consumer financing has become a major driver in the consumer durables industry . In the case of more expensive consumer goods, such as refrigerators, washing machines, color televisions retailers are marketing their goods more aggressively by providing easy financing options to the consumers by partnering with banks. INFLATION Inflation refers to a general rise in prices measured against a standard level of purchasing power. Inflationary pressure in the economy affects (decreases) the purchasing power of the consumers and thus has a considerable impact on the performance and profitability of companies. High inflation rate can be considered as an indication for slower growth rate and low inflation rate can be taken as a positive sign for an expansionary phase. Inflation has a relationship with capital market as well. During inflation, the nominal required rate of return of investors goes up resulting in the decrease in bond and equity prices. Inflation can be measured in terms of wholesale index or consumer price index. An analysis of these indices will indicate the economic conditions expected to prevail. The most well known measures of Inflation are the CPI which measures consumer prices, and the GDP deflator, which measures inflation in the whole of the domestic economy. BUSINESS CYCLES Business cycles refer to cyclical movement in the economic activity in a country as a whole. An economy marching towards prosperity passes through different phases, each known as a component of a business cycle. These phases are generally designated as depression, recovery, boom and recession. Interest rates and inflation rates are high. Individual companies face different degrees of economic crises. There is a heavy pressure on their profitability resulting in lesser and lesser dividend payout and reinvestment activities. Companies even forced to shut down some of the plants. Some industries Show above-average response and tend to outperform the economy. These include capital goods industries such as consumer durables. The demand for these goods is generally deferred during recession period. But during the recovery, the demand pattern outperforms the general demand level. However, during the same period, industries dealing with essential commodities such as food, are less responsive . On the other hand, these industries would tend to outperform the general level during the recession period MONETARY POLICY, MONEY SUPPLY AND LIQUIDITY The liquidity in the economy depends upon the money supply which is regulated by monetary policy of the government. Reserve Bank of India has been adopting several measures to regulate the money supply and liquidity in the economy. Business firms require funds for expansion projects. The capacity to raise funds from the market is affected by the liquidity position in the economy. The monetary policy is designed with an objective to maintain a balance in liquidity position. Neither the excess liquidity nor the shortage is desirable. The shortage of liquidity will tend to increase the interest rates while the excess will result in inflation. Monetary supply and monetary environment affect share prices through affecting the discounting rate. An easy monetary policy is expected to result in decreasing discount rate. Money supply also affects the real economy through Change in growth in demand level, Change in growth of supply position OTHER FACTORS Besides the factors mentioned, there are cartain other factors which should also kept in mind while economic analysis. Some of these factors are:- Cheap imports from Asian Countries: The cheap imports of consumer durable products from countries like China, Singapore etc is a major concern. Increasing competition: Presence of a large number of players in each segment leads to high rivalry. Also, the unorganized market is yet very strong in the case of many consumer durable goods. The pie of the unorganized sector is relatively large in most of the segments, hence increasing the competition. Fluctuating raw material prices: Rising input costs of raw materials viz. copper, steel, aluminum and plastic the major raw materials required for this industry will severely put pressures on margins. Unfavorable Duty Structure: Top players in the consumer durables industry have been demanding a more favorable import duty on durable components imported by them. Take the case of LCDs which is the fastest growing segment right now the industry has beendemanding a reduction in the import duty. Contrary to this is the case of set top boxes, where 80% of the set top boxes are imported. The industry has been recommending that the custom duty on STB should be increased by 5% to 10% in order to boost domestic manufacturing. Continuously changing technology; a challenge: The consumer durables sector faces the challenge of a continuous change in technology and the inability to cope with it. High-end consumers prefer changing their goods along with the up-gradation of technology and manufacturers have to make sure they cater to this requirement. CONCLUSION The outlook for the industries and companies depends on the outlook for the economy. If the outlook in the economy is bright and upbeat, this may be considered as good indicator of growing profit of the firm. The general optimism is reflected in the security prices. The linkage in economic environment and the security prices is obvious and critical. This analysis helps to decide when to invest and where to invest. The Indian market is fast moving towards high-end products and the importance of media and entertainment is growing among the young market. The consumer durables industry needs to constantly focus on innovation and needs to come out with product variations across categories to meet the different expectations of a varied class of customers. With easy availability of finance, fall in prices due to increased competition, growth of media, growth in consumer base of rural sector, the consumer durables industry is growing at a fast pace. Given these factors, a good growth is proj ected in the future, too.

Disparate Objects in Walt Whitmans Leaves of Grass Essay -- Walt Whit

Reconciling Disparate Objects in Walt Whitman's Leaves of Grass Walt Whitman begins this excerpt from Leaves of Grass by describing an elusive 'this': "This is the meal pleasantly set . . . . this is the meat and drink for natural hunger." These two clauses that are set next to each other describe 'this' as very different things. "A meal pleasantly set," evokes a quiet table in a genteel household. In contrast, "the meat and drink for natural hunger," recalls a more rugged table at which the food will be consumed after strenuous activity. How can one thing--'this'--have such opposing properties? The entire excerpt is defined by the outward contradictions such as this one. Whitman's poetic rhetoric, however, attempts to create an internal unity from the contradictions. By unifying things that seem diametrically opposed Whitman emphasizes the possibility for reconciliation between disparate objects. Whitman places two contrasting ideas next to each other at all levels of the excerpt. The most prominent level at which he does this is in the images, as in the first line. H...

Analysis of Another Day by Paul McCartney Essay -- essays research pap

Paul McCartney’s â€Å"Another Day† is the song i chose to analyze. Within the song there are three main themes I took notice to. The themes I have chosen are discovering self worth, the yearning for varitey and the third theme relates to the previous two in that if a person is lacking meaning then they often become tired and fed up with living. McCartney was able to successfully weave them into each other to effectively tell a story of a life of one women by explaining her daily habits. For the most part these themes are easy to recognize because they are easily relateable in any person’s life. â€Å"Another Day† is about the feeling of boredom with life and the constant struggle to find happiness. The themes of boredom, uselessness and sadness are so common and universal making the song itself timeless. The first theme I took notice to was monotony. This seemed like the most prudent point of the song. â€Å"Every day she takes a morning bath she wets her hair,† is the opening line beginning the song with an immediate sense that it is a routine that this character, which thus far we know only as a female, goes through. The whole first verse is about what she is doing before work. The wording of her actions are very plain making her seem less than enthused to be going through the same thing again. Paul McCartney has this character, â€Å"slipping into stockings...dipping in the pocket of her raincoat.† This imagery brings with it a feeling of her being lackadaisical. The chorus reiterates this theme and the sense of a plodding life with â€Å"Its just another day...Its just another day...Its just another day.† The repetition of these lines is pulling the observer back to the feeling of drabness because of it being so flat in varitey of ... ... but as a person she should find happiness with herself and her own life before trying to merge another life into hers. Understanding her want for another person is not difficult to grasp but it should not be the meaning in life. While she is dwelling on her despondency alone in her apartment, oportunities of contentment are probably passing right by her and this women will be none the wiser until she can find enjoyment on her own. Paul McCartney is depicting a picture of a women who barely drags herself through the work day routine and lives a lonely life of sadness simply waiting for the right man to love her. She has built up in her head that as soon as she finds â€Å"Mister Right† she will be pleased with her life. McCartney does a brilliant job of outlining the struggle of people who attempt to find self worth in the approval and appreciation of other people.

What is Plagiarism Essay -- essays research papers

Introduction Because students often are confused about what is and is not plagiarism, I have prepared this handout to help you understand what is acceptable. There are some gray areas and if you have any questions, ask your instructor. Plagiarism is very serious and it can be grounds for failure in a course. So ask first. Another important point is that as you progress in your education the standards become higher. As a College student you are expected to have your own ideas. To read information and explain it in your words. If you complete an assignment by copying material, you are not showing that you understand something. Only that you can repeat what the textbook says. This does not show that you understand. Definition Lets start with a definition: Plagiarize 'pla-je-,riz also j - - vb -rized; -riz ·ing vt [plagiary] : to steal and pass off (the ideas or words of another) as one's own : use (a created production) without crediting the source vi: to commit literary theft: present as new and original an idea or product derived from an existing source - pla ·gia ·riz ·er n FROM: Webster's New Collegiate Dictionary 9th ed, (Springfield, Ma: Merriam 1981, p. 870). What to do Now what does this mean for you? First, it is unacceptable to copy something out of a book, newspaper, journal or any other printed source. The most blatant example of this is to directly copy something word for word. It does not matter if it is only a phrase. If it is not yours, either do not use it or...

Chapter 13 Mad-eye Moody

The storm had blown itself out by the following morning, though the ceiling in the Great Hall was still gloomy; heavy clouds of pewter gray swirled overhead as Harry, Ron, and Hermione examined their new course schedules at breakfast. A few seats along, Fred, George, and Lee Jordan were discussing magical methods of aging themselves and bluffing their way into the Triwizard Tournament. â€Å"Today's not bad†¦outside all morning,† said Ron, who was running his finger down the Monday column of his schedule. â€Å"Herbology with the Hufflepuffs and Care of Magical Creatures†¦damn it, we're still with the Slytherins†¦.† â€Å"Double Divination this afternoon,† Harry groaned, looking down. Divination was his least favorite subject, apart from Potions. Professor Trelawney kept predicting Harry's death, which he found extremely annoying. â€Å"You should have given it up like me, shouldn't you?† said Hermione briskly, buttering herself some toast. â€Å"Then you'd be doing something sensible like Arithmancy.† â€Å"You're eating again, I notice,† said Ron, watching Hermione adding liberal amounts of jam to her toast too. â€Å"I've decided there are better ways of making a stand about elf rights,† said Hermione haughtily. â€Å"Yeah†¦and you were hungry,† said Ron, grinning. There was a sudden rustling noise above them, and a hundred owls came soaring through the open windows carrying the morning mail. Instinctively, Harry looked up, but there was no sign of white among the mass of brown and gray. The owls circled the tables, looking for the people to whom their letters and packages were addressed. A large tawny owl soared down to Neville Longbottom and deposited a parcel into his lap – Neville almost always forgot to pack something. On the other side of the Hall Draco Malfoy's eagle owl had landed on his shoulder, carrying what looked like his usual supply of sweets and cakes from home. Trying to ignore the sinking feeling of disappointment in his stomach, Harry returned to his porridge. Was it possible that something had happened to Hedwig, and that Sirius hadn't even got his letter? His preoccupation lasted all the way across the sodden vegetable patch until they arrived in greenhouse three, but here he was distracted by Professor Sprout showing the class the ugliest plants Harry had ever seen. Indeed, they looked less like plants than thick, black, giant slugs, protruding vertically out of the soil. Each was squirming slightly and had a number of large, shiny swellings upon it, which appeared to be full of liquid. â€Å"Bubotubers,† Professor Sprout told them briskly. â€Å"They need squeezing. You will collect the pus -â€Å" â€Å"The what?† said Seamus Finnigan, sounding revolted. â€Å"Pus, Finnigan, pus,† said Professor Sprout, â€Å"and it's extremely valuable, so don't waste it. You will collect the pus, I say, in these bottles. Wear your dragon-hide gloves; it can do funny things to the skin when undiluted, bubotuber pus.† Squeezing the bubotubers was disgusting, but oddly satisfying. As each swelling was popped, a large amount of thick yellowish-green liquid burst forth, which smelled strongly of petrol. They caught it in the bottles as Professor Sprout had indicated, and by the end of the lesson had collected several pints. â€Å"This'll keep Madam Pomfrey happy,† said Professor Sprout, stoppering the last bottle with a cork. â€Å"An excellent remedy for the more stubborn forms of acne, bubotuber pus. Should stop students resorting to desperate measures to rid themselves of pimples.† â€Å"Like poor Eloise Midgen,† said Hannah Abbott, a Hufflepuff, in a hushed voice. â€Å"She tried to curse hers off.† â€Å"Silly girl,† said Professor Sprout, shaking her head. â€Å"But Madam Pomfrey fixed her nose back on in the end.† A booming bell echoed from the castle across the wet grounds, signaling the end of the lesson, and the class separated; the Hufflepuffs climbing the stone steps for Transfiguration, and the Gryffindors heading in the other direction, down the sloping lawn toward Hagrid's small wooden cabin, which stood on the edge of the Forbidden Forest. Hagrid was standing outside his hut, one hand on the collar of his enormous black boarhound, Fang. There were several open wooden crates on the ground at his feet, and Fang was whimpering and straining at his collar, apparently keen to investigate the contents more closely. As they drew nearer, an odd rattling noise reached their ears, punctuated by what sounded like minor explosions. â€Å"Mornin'!† Hagrid said, grinning at Harry, Ron, and Hermione. â€Å"Be'er wait fer the Slytherins, they won' want ter miss this – Blast-Ended Skrewts!† â€Å"Come again?† said Ron. Hagrid pointed down into the crates. â€Å"Eurgh!† squealed Lavender Brown, jumping backward. â€Å"Eurgh† just about summed up the Blast-Ended Skrewts in Harry's opinion. They looked like deformed, shell-less lobsters, horribly pale and slimy-looking, with legs sticking out in very odd places and no visible heads. There were about a hundred of them in each crate, each about six inches long, crawling over one another, bumping blindly into the sides of the boxes. They were giving off a very powerful smell of rotting fish. Every now and then, sparks would fly out of the end of a skrewt, and with a small phut, it would be propelled forward several inches. â€Å"On'y jus' hatched,† said Hagrid proudly, â€Å"so yeh'll be able ter raise 'em yerselves! Thought we'd make a bit of a project of it!† â€Å"And why would we want to raise them?† said a cold voice. The Slytherins had arrived. The speaker was Draco Malfoy. Crabbe and Goyle were chuckling appreciatively at his words. Hagrid looked stumped at the question. â€Å"I mean, what do they do?† asked Malfoy. â€Å"What is the point of them?† Hagrid opened his mouth, apparently thinking hard; there was a few seconds' pause, then he said roughly, â€Å"Tha's next lesson, Malfoy. Yer jus' feedin' 'em today. Now, yeh'll wan' ter try 'em on a few diff'rent things – I've never had 'em before, not sure what they'll go fer – I got ant eggs an' frog livers an' a bit o' grass snake – just try 'em out with a bit of each.† â€Å"First pus and now this,† muttered Seamus. Nothing but deep affection for Hagrid could have made Harry, Ron, and Hermione pick up squelchy handfuls of frog liver and lower them into the crates to tempt the Blast-Ended Skrewts. Harry couldn't suppress the suspicion that the whole thing was entirely pointless, because the skrewts didn't seem to have mouths. â€Å"Ouch!† yelled Dean Thomas after about ten minutes. â€Å"It got me.† Hagrid hurried over to him, looking anxious. â€Å"Its end exploded!† said Dean angrily, showing Hagrid a burn on his hand. â€Å"Ah, yeah, that can happen when they blast off,† said Hagrid, nodding. â€Å"Eurgh!† said Lavender Brown again. â€Å"Eurgh, Hagrid, what's that pointy thing on it?† â€Å"Ah, some of 'em have got stings,† said Hagrid enthusiastically (Lavender quickly withdrew her hand from the box). â€Å"I reckon they're the males†¦.The females've got sorta sucker things on their bellies†¦.I think they might be ter suck blood.† â€Å"Well, I can certainly see why we're trying to keep them alive,† said Malfoy sarcastically. â€Å"Who wouldn't want pets that can burn, sting, and bite all at once?† â€Å"Just because they're not very pretty, it doesn't mean they're not useful,† Hermione snapped. â€Å"Dragon blood's amazingly magical, but you wouldn't want a dragon for a pet, would you?† Harry and Ron grinned at Hagrid, who gave them a furtive smile from behind his bushy beard. Hagrid would have liked nothing better than a pet dragon, as Harry, Ron, and Hermione knew only too well – he had owned one for a brief period during their first year, a vicious Norwegian Ridgeback by the name of Norbert. Hagrid simply loved monstrous creatures, the more lethal, the better. â€Å"Well, at least the skrewts are small,† said Ron as they made their way back up to the castle for lunch an hour later. â€Å"They are now,† said Hermione in an exasperated voice, â€Å"but once Hagrid's found out what they eat, I expect they'll be six feet long.† â€Å"Well, that won't matter if they turn out to cure seasickness or something, will it?† said Ron, grinning slyly at her. â€Å"You know perfectly well I only said that to shut Malfoy up,† said Hermione. â€Å"As a matter of fact I think he's right. The best thing to do would be to stamp on the lot of them before they start attacking us all.† They sat down at the Gryffindor table and helped themselves to lamb chops and potatoes. Hermione began to eat so fast that Harry and Ron stared at her. â€Å"Er – is this the new stand on elf rights?† said Ron. â€Å"You're going to make yourself puke instead?† â€Å"No,† said Hermione, with as much dignity as she could muster with her mouth bulging with sprouts. â€Å"I just want to get to the library.† â€Å"What?† said Ron in disbelief. â€Å"Hermione – it's the first day back! We haven't even got homework yet!† Hermione shrugged and continued to shovel down her food as though she had not eaten for days. Then she leapt to her feet, said, â€Å"See you at dinner!† and departed at high speed. When the bell rang to signal the start of afternoon lessons, Harry and Ron set off for North Tower where, at the top of a tightly spiraling staircase, a silver stepladder led to a circular trapdoor in the ceiling, and the room where Professor Trelawney lived. The familiar sweet perfume spreading from the fire met their nostrils as they emerged at the top of the stepladder. As ever, the curtains were all closed; the circular room was bathed in a dim reddish light cast by the many lamps, which were all draped with scarves and shawls. Harry and Ron walked through the mass of occupied chintz chairs and poufs that cluttered the room, and sat down at the same small circular table. â€Å"Good day,† said the misty voice of Professor Trelawney right behind Harry, making him jump. A very thin woman with enormous glasses that made her eyes appear far too large for her face, Professor Trelawney was peering down at Harry with the tragic expression she always wore whenever she saw him. The usual large amount of beads, chains, and bangles glittered upon her person in the firelight. â€Å"You are preoccupied, my dear,† she said mournfully to Harry. â€Å"My inner eye sees past your brave face to the troubled soul within. And I regret to say that your worries are not baseless. I see difficult times ahead for you, alas†¦most difficult†¦I fear the thing you dread will indeed come to pass†¦.and perhaps sooner than you think†¦Ã¢â‚¬  Her voice dropped almost to a whisper. Ron rolled his eyes at Harry, who looked stonily back. Professor Trelawney swept past them and seated herself in a large winged armchair before the fire, facing the class. Lavender Brown and Parvati Patil, who deeply admired Professor Trelawney, were sitting on poufs very close to her. â€Å"My dears, it is time for us to consider the stars,† she said. â€Å"The movements of the planets and the mysterious portents they reveal only to those who understand the steps of the celestial dance. Human destiny may be deciphered by the planetary rays, which intermingle†¦.† But Harry's thoughts had drifted. The perfumed fire always made him feel sleepy and dull-witted, and Professor Trelawney's rambling talks on fortune-telling never held him exactly spellbound – though he couldn't help thinking about what she had just said to him. â€Å"I fear the thing you dread will indeed come to pass†¦Ã¢â‚¬  But Hermione was right, Harry thought irritably, Professor Trelawney really was an old fraud. He wasn't dreading anything at the moment at all†¦well, unless you counted his fears that Sirius had been caught†¦but what did Professor Trelawney know? He had long since come to the conclusion that her brand of fortunetelling was really no more than lucky guesswork and a spooky manner. Except, of course, for that time at the end of last term, when she had made the prediction about Voldemort rising again†¦and Dumbledore himself had said that he thought that trance had been genuine, when Harry had described it to him. â€Å"Harry!† Ron muttered. â€Å"What?† Harry looked around; the whole class was staring at him. He sat up straight; he had been almost dozing off, lost in the heat and his thoughts. â€Å"I was saying, my dear, that you were clearly born under the baleful influence of Saturn,† said Professor Trelawney, a faint note of resentment in her voice at the fact that he had obviously not been hanging on her words. â€Å"Born under – what, sorry?† said Harry. â€Å"Saturn, dear, the planet Saturn!† said Professor Trelawney, sounding definitely irritated that he wasn't riveted by this news. â€Å"I was saying that Saturn was surely in a position of power in the heavens at the moment of your birth†¦.Your dark hair†¦your mean stature†¦tragic losses so young in life†¦I think I am right in saying, my dear, that you were born in midwinter?† â€Å"No,† said Harry, â€Å"I was born in July.† Ron hastily turned his laugh into a hacking cough. Half an hour later, each of them had been given a complicated circular chart, and was attempting to fill in the position of the planets at their moment of birth. It was dull work, requiring much consultation of timetables and calculation of angles. â€Å"I've got two Neptunes here,† said Harry after a while, frowning down at his piece of parchment, â€Å"that can't be right, can it?† â€Å"Aaaaah,† said Ron, imitating Professor Trelawney's mystical whisper, â€Å"when two Neptunes appear in the sky, it is a sure sign that a midget in glasses is being born, Harry†¦.† Seamus and Dean, who were working nearby, sniggered loudly, though not loudly enough to mask the excited squeals from Lavender Brown – â€Å"Oh Professor, look! I think I've got an unaspected planet! Oooh, which one's that, Professor?† â€Å"It is Uranus, my dear,† said Professor Trelawney, peering down at the chart. â€Å"Can I have a look at Uranus too, Lavender?† said Ron. Most unfortunately, Professor Trelawney heard him, and it was this, perhaps, that made her give them so much homework at the end of the class. â€Å"A detailed analysis of the way the planetary movements in the coming month will affect you, with reference to your personal chart,† she snapped, sounding much more like Professor McGonagall than her usual airy-fairy self. â€Å"I want it ready to hand in next Monday, and no excuses!† â€Å"Miserable old bat,† said Ron bitterly as they joined the crowds descending the staircases back to the Great Hall and dinner. â€Å"That'll take all weekend, that will†¦Ã¢â‚¬  â€Å"Lots of homework?† said Hermione brightly, catching up with them. â€Å"Professor Vector didn't give us any at all!† â€Å"Well, bully for Professor Vector,† said Ron moodily. They reached the entrance hall, which was packed with people queuing for dinner. They had just joined the end of the line, when a loud voice rang out behind them. â€Å"Weasley! Hey, Weasley!† Harry, Ron, and Hermione turned. Malfoy, Crabbe, and Goyle were standing there, each looking thoroughly pleased about something. â€Å"What?† said Ron shortly. â€Å"Your dad's in the paper, Weasley!† said Malfoy, brandishing a copy of the Daily Prophet and speaking very loudly, so that everyone in the packed entrance hall could hear. â€Å"Listen to this! FURTHER MISTAKES AT THE MINISTRY OF MAGIC It seems as though the Ministry of Magic's troubles are not yet at an end, writes Rita Skeeter, Special Correspondent. Recently under fire for its poor crowd control at the Quidditch World Cup, and still unable to account for the disappearance of one of its witches, the Ministry was plunged into fresh embarrassment yesterday by the antics of Arnold Weasley, of the Misuse of Muggle Artifacts Office.† Malfoy looked up. â€Å"Imagine them not even getting his name right, Weasley. It's almost as though he's a complete nonentity, isn't it?† he crowed. Everyone in the entrance hall was listening now. Malfoy straightened the paper with a flourish and read on: Arnold Weasley, who was charged with possession of a flying car two years ago, was yesterday involved in a tussle with several Muggle law-keepers (â€Å"policemen†) over a number of highly aggressive dustbins. Mr. Weasley appears to have rushed to the aid of â€Å"Mad-Eye† Moody, the aged ex-Auror who retired from the Ministry when no longer able to tell the difference between a handshake and attempted murder. Unsurprisingly, Mr. Weasley found, upon arrival at Mr. Moody's heavily guarded house, that Mr. Moody had once again raised a false alarm. Mr. Weasley was forced to modify several memories before he could escape from the policemen, but refused to answer Daily Prophet questions about why he had involved the Ministry in such an undignified and potentially embarrassing scene. â€Å"And there's a picture, Weasley!† said Malfoy, flipping the paper over and holding it up. â€Å"A picture of your parents outside their house – if you can call it a house! You r mother could do with losing a bit of weight, couldn't she?† Ron was shaking with fury. Everyone was staring at him. â€Å"Get stuffed, Malfoy,† said Harry. â€Å"C'mon, Ron†¦Ã¢â‚¬  â€Å"Oh yeah, you were staying with them this summer, weren't you, Potter?† sneered Malfoy. â€Å"So tell me, is his mother really that porky, or is it just the picture?† â€Å"You know your mother, Malfoy?† said Harry – both he and Hermione had grabbed the back of Ron's robes to stop him from launching himself at Malfoy – â€Å"that expression she's got, like she's got dung under her nose? Has she always looked like that, or was it just because you were with her?† Malfoy's pale face went slightly pink. â€Å"Don't you dare insult my mother, Potter.† â€Å"Keep your fat mouth shut, then,† said Harry, turning away. BANG! Several people screamed – Harry felt something white-hot graze the side of his face – he plunged his hand into his robes for his wand, but before he'd even touched it, he heard a second loud BANG, and a roar that echoed through the entrance hall. â€Å"OH NO YOU DON'T, LADDIE!† Harry spun around. Professor Moody was limping down the marble staircase. His wand was out and it was pointing right at a pure white ferret, which was shivering on the stone-flagged floor, exactly where Malfoy had been standing. There was a terrified silence in the entrance hall. Nobody but Moody was moving a muscle. Moody turned to look at Harry – at least, his normal eye was looking at Harry; the other one was pointing into the back of his head. â€Å"Did he get you?† Moody growled. His voice was low and gravelly. â€Å"No,† said Harry, â€Å"missed.† â€Å"LEAVE IT!† Moody shouted. â€Å"Leave – what?† Harry said, bewildered. â€Å"Not you – him!† Moody growled, jerking his thumb over his shoulder at Crabbe, who had just frozen, about to pick up the white ferret. It seemed that Moody's rolling eye was magical and could see out of the back of his head. Moody started to limp toward Crabbe, Goyle, and the ferret, which gave a terrified squeak and took off, streaking toward the dungeons. â€Å"I don't think so!† roared Moody, pointing his wand at the ferret again – it flew ten feet into the air, fell with a smack to the floor, and then bounced upward once more. â€Å"I don't like people who attack when their opponent's back's turned,† growled Moody as the ferret bounced higher and higher, squealing in pain. â€Å"Stinking, cowardly, scummy thing to do†¦Ã¢â‚¬  The ferret flew through the air, its legs and tail flailing helplessly. â€Å"Never – do – that – again -† said Moody, speaking each word as the ferret hit the stone floor and bounced upward again. â€Å"Professor Moody!† said a shocked voice. Professor McGonagall was coming down the marble staircase with her arms full of books. â€Å"Hello, Professor McGonagall,† said Moody calmly, bouncing the ferret still higher. â€Å"What – what are you doing?† said Professor McGonagall, her eyes following the bouncing ferret's progress through the air. â€Å"Teaching,† said Moody. â€Å"Teach – Moody, is that a student?† shrieked Professor McGonagall, the books spilling out of her arms. â€Å"Yep,† said Moody. â€Å"No!† cried Professor McGonagall, running down the stairs and pulling out her wand; a moment later, with a loud snapping noise, Draco Malfoy had reappeared, lying in a heap on the floor with his sleek blond hair all over his now brilliantly pink face. He got to his feet, wincing. â€Å"Moody, we never use Transfiguration as a punishment!† said Professor McGonagall wealdy. â€Å"Surely Professor Dumbledore told you that?† â€Å"He might've mentioned it, yeah,† said Moody, scratching his chin unconcernedly, â€Å"but I thought a good sharp shock -â€Å" â€Å"We give detentions, Moody! Or speak to the offender's Head of House!† â€Å"I'll do that, then,† said Moody, staring at Malfoy with great dislike. Malfoy, whose pale eyes were still watering with pain and humiliation, looked malevolently up at Moody and muttered something in which the words â€Å"my father† were distinguishable. â€Å"Oh yeah?† said Moody quietly, limping forward a few steps, the dull clunk of his wooden leg echoing around the hall. â€Å"Well, I know your father of old, boy†¦.You tell him Moody's keeping a close eye on his son†¦you tell him that from me†¦.Now, your Head of House'll be Snape, will it?† â€Å"Yes,† said Malfoy resentfully. â€Å"Another old friend,† growled Moody. â€Å"I've been looking forward to a chat with old Snape†¦.Come on, you†¦Ã¢â‚¬  And he seized Malfoy's upper arm and marched him off toward the dungeons. Professor McGonagall stared anxiously after them for a few moments, then waved her wand at her fallen books, causing them to soar up into the air and back into her arms. â€Å"Don't talk to me,† Ron said quietly to Harry and Hermione as they sat down at the Gryffindor table a few minutes later, surrounded by excited talk on all sides about what had just happened. â€Å"Why not?† said Hermione in surprise. â€Å"Because I want to fix that in my memory forever,† said Ron, his eyes closed and an uplifted expression on his face. â€Å"Draco Malfoy, the amazing bouncing ferret.† Harry and Hermione both laughed, and Hermione began doling beef casserole onto each of their plates. â€Å"He could have really hurt Malfoy, though,† she said. â€Å"It was good, really, that Professor McGonagall stopped it -â€Å" â€Å"Hermione!† said Ron furiously, his eyes snapping open again, â€Å"you're ruining the best moment of my life!† Hermione made an impatient noise and began to eat at top speed again. â€Å"Don't tell me you're going back to the library this evening?† said Harry, watching her. â€Å"Got to,† said Hermione thickly. â€Å"Loads to do.† â€Å"But you told us Professor Vector -â€Å" â€Å"It's not schoolwork,† she said. Within five minutes, she had cleared her plate and departed. No sooner had she gone than her seat was taken by Fred Weasley. â€Å"Moody!† he said. â€Å"How cool is he?† â€Å"Beyond cool,† said George, sitting down opposite Fred. â€Å"Supercool,† said the twins' best friend, Lee Jordan, sliding into the seat beside George. â€Å"We had him this afternoon,† he told Harry and Ron. â€Å"What was it like?† said Harry eagerly. Fred, George, and Lee exchanged looks full of meaning. â€Å"Never had a lesson like it,† said Fred. â€Å"He knows, man,† said Lee. â€Å"Knows what?† said Ron, leaning forward. â€Å"Knows what it's like to be out there doing it,† said George impressively. â€Å"Doing what?† said Harry. â€Å"Fighting the Dark Arts,† said Fred. â€Å"He's seen it all,† said George. â€Å"‘Mazing,† said Lee. Ron dived into his bag for his schedule. â€Å"We haven't got him till Thursday!† he said in a disappointed voice.