Compare and Contrast Revenge in Scarlet Letter

Abigail’s Versus Chillingworth’s Revenge What does revenge mean? The definition is â€Å"to exact punishment or expiation for a wrong on behalf of, especially in a resentful or vindictive spirit† (dictionary. com). What does that mean? It means to give punishment to someone who deserves it for some specific reason, especially if the reason was personal or offends to the person giving the revenge. In both The Crucible and The Scarlet Letter there was revenge. However, they both had different types of revenge and how it was used. There was a lot of revenge in The Crucible.The first person that was using revenge in The Crucible is Thomas Putnam. From the beginning of the play, Thomas Putnam had grudges against Francis Nurse for preventing his brother-in-law from being elected to run for office as minister. â€Å"Thomas Putnam's man for the Salem ministry was Bayley. The Nurse clan had been in the faction that prevented Bayley's taking office† (Act 1). He also dislikes George Jacobs because they have had land disputes in the past. Thomas Putnam decides to have his daughter Ruth charge witchcraft against the man.He does this because if George Jacobs is executed, then Thomas Putnam can buy all of George Jacobs' land. Giles Corey knows this and in the book he says, â€Å"If Jacobs hangs for a witch he forfeit up his property – that's law! And there is none but Putnam with the coin to buy so great a piece. This man is killing his neighbors for their land† (Act 3)! Another person that Thomas Putnam wants to have revenge against is the â€Å"witch† that the people of Salem have been trying to find since the very beginning. He and his wife are the reason that the whole witchcraft hysteria went out of control.Thomas Putnam and his wife were very upset about how they lost seven newborns and now their only living child, Ruth, is sick. In the book Mrs. Putnam says: â€Å"Reverend Parris, I have laid seven babies unbaptized in the earth. Believe me, sir, you never saw more hearty babies born. And yet, each would wither in my arms the very night of their birth. I have spoke nothin', but my heart has clamored intimations. And now, this year, my Ruth, my only – I see her turning strange. A secret child she has become this year, and shrivels like a sucking mouth were pullin’ on her life too. † (Act 1) They are desperate and try to onvince Reverend Parris to tell everyone what he saw with the girls dancing in the woods. One of the girls was naked, Tituba was doing some Barbuda spell, and something with a frog in it was boiling in a pot. The last thing that Thomas Putnam does for revenge is when Giles Corey accuses Thomas Putnam of using the witch trials as a way to get land much cheaper than it is worth by accusing people and having them executed and then buying their land. Giles Corey is pressed to death, for not telling the court who told him this information and Putnam gets his revenge. He refuses to confess because he knows he will lose his land.He knew if he just dies without being guilty by the court then his sons will get the land but if he confesses he loses the land so he has them put more weight on him and he dies. His last words in the play were â€Å"More weight. † Thomas Putnam's wife, Mrs. Putnam, has Rebecca Nurse arrested for the supernatural murder of her seven babies because Rebecca was her midwife. Mrs. Putnam is very jealous of the other wives because she had seven stillbirths. The main person that uses revenge in the play is Abigail Williams. She is a cruel, selfish girl that will do anything to get with John Proctor.So, naturally, she hates his wife, Elizabeth Proctor, more than anything in the world. Here's a quote from the book showing how Abigail dislikes Elizabeth, â€Å"She is blackening my name in the village! She is telling lies about me! She is a cold, sniveling woman, and you bend to her† (Act 1). The first reason she hates Elizabeth Proctor is because she fired Abigail from being her servant because Elizabeth found out that her husband, John Proctor, was having an affair with her. John Proctor ends up confessing in court about the affair and he says: â€Å"A man may think God sleeps, but God sees everything, I know it now.I beg you, sir, I beg you—see her what she is . . . She thinks to dance with me on my wife's grave! And well she might, for I thought of her softly. God help me, I lusted, and there is a promise in such sweat. But it is a whore's vengeance. † (Act 3) She goes to the extent to have Tituba do some Barbuda ritual thing with a chicken and boiling something. She even drinks the blood of the chicken. In the book when accused of drinking blood Abigail betrays Tituba and blames her and says that she made her drink the blood, â€Å"She makes me drink blood† (Act 1)!When Abigail, Tituba, and the girls get caught dancing (and Abigail is also naked) and performing this â₠¬Å"witchcraft†, Abigail threatens to murder anyone who says they did anything other than dance. An example of a quote of Abigail only caring about herself not getting in trouble is, â€Å"I want to open myself! . . . I want the light of God, I want the sweet love of Jesus! I danced for the Devil; I saw him, I wrote in his book; I go back to Jesus; I kiss His hand. I saw Sarah Good with the Devil! I saw Goody Osburn with the Devil! I saw Bridget Bishop with the Devil† (Act 1)! During the play, she desperately wants John Proctor.She begs and begs for John to remember their â€Å"connection† and all the things she taught her. In the play Abigail says, â€Å"I look for John Proctor that took me from my sleep and put knowledge in my heart! I never knew what pretense Salem was, I never knew the lying lessons I was taught by all these Christian women and their covenanted men! And now you bid me tear the light out of my eyes? I will not, I cannot! You loved me, John Pro ctor, and whatever sin it is, you love me yet† (Act 1)! The next thing that Abigail does is the doll she gives to Elizabeth. Abigail forces Mary Warren to sew Elizabeth a doll and put a needle in the stomach of it.Then when Mary gives it to Elizabeth, Abigail shoves a needle in her stomach in the same spot and goes to the authorities and tells them that Elizabeth sent her spirit out to stab her with the needle. In the play Cheever says this about what happened: â€Å"The girl, the Williams girl, Abigail Williams, Sir. She sat to dinner in Reverend Parris's house tonight, and without word nor warnin' she falls to the floor. Lake a struck beast, he says, and screamed a scream that a bull would weep to hear. And he goes to save her, and, stuck two inches in the flesh of her belly, he draw a needle out.And demandin' of her how she came to be so stabbed, she (to Proctor now) – testify it were your wife's familiar spirit pushed it in! † (Act 2) Unfortunately for Abigai l, her plan of getting rid of Elizabeth and marrying John backfires and John Proctor hangs and Elizabeth lives. John Proctor hangs because of Abigail. When John Proctor has Mary Warren tell the truth to the judges the girls turn on him and Mary. Then Mary gets scared and says John bewitched her into saying all that so she doesn't get in trouble. John is accused of witchcraft and confesses.But then the judge has him sign a paper saying he did it and Proctor refuses because he knows it will be hung on the church door and he doesn’t want his name ruined. In the book he says, â€Å"Because it is my name! Because I cannot have another in my life! Because I lie and sign myself to lies! Because I am not worth the dust on the feet of them that hang! How may I live without my name? I have given you my soul; leave me my name† (Act 4)! After all this happens, Abigail is afraid someone like Hale will start convincing people that she has been lying. Worried about this, Abigail and Mercy steal Parris' stuff and then run away.There is also a lot of revenge in The Scarlet Letter. Hester Prynne seeks revenge in the book. In the book, Hester is alienated from the rest of the town and I'm sure it made it pretty miserable for her. A good quote from the book that shows how she was isolated from the town and the people of the town is this: â€Å"Measured by the prisoner’s experience, however, it might reckoned a journey of some length; for, haughty as her demeanor was, she perchance underwent an agony from every footstep of those that thronged to see her, as if her heart had been flung in the street for them to spurn and trample upon. (page 53) In the book, Hester committed adultery with Dimmesdale and is forced to where the scarlet â€Å"A† on her clothing for adultery. This makes her an outcast to the rest of the community. The other people of the town were somewhat cruel. Some examples of them treating them cruelly is when the kids threw mud at her a nd Pearl until Pearl chased them away. Another example is when Bellingworth and Wilson tease Pearl and call her a demon child and bird. Hester nearly got her revenge by escaping to England with her lover, Dimmesdale, but Dimmesdale dies.The main person who seeks revenge in The Scarlet Letter is Roger Chillingworth. From the very beginning of the story, Chillingworth is obsessed with trying to find out who his wife, Hester, slept with. He is extremely jealous and angry she did this and his only life goal is to find out who it is. When Dimmesdale gets sick, Chillingworth is already suspicious of this man so he takes up the opportunity to become his â€Å"doctor. † Chillingworth pretends to be nice and friendly to Dimmesdale as Dimmesdale is sick because he is he feels bad for committing adultery and no telling anyone.The author also hints that Chillingworth is making Dimmesdale sicker instead of helping him get better. In the book, Chillingworth slowly tortures Dimmesdale with his guilt for what he did. Chillingworth did a few things to torture Dimmesdale. His presence was torture because it was a constant reminder of his sin of adultery. In the book Chillingworth mentions that lying is against God a lot to make Dimmesdale feel bad for what he did. On top of all this, Chillingworth was caring for Dimmesdale so he could have been poisoning him.Dimmesdale cannot handle this torture and extreme guilt he feels and starts harming himself physically. In the book it says, â€Å"In Mr. Dimmesdale’s secret closet, under lock and key, there was a bloody scourge† (page 141). He harms himself by whipping himself and among other ways. Finally, Dimmesdale can't take it anymore and reveals what he did to the town. Chillingworth tries to stop him, because if he says it, then it's over and Chillingworth can't torture him anymore. In the book Chillingworth yells to Dimmesdale, â€Å"Do not blacken your fame and perish in dishonor.I can yet save you† (p age 235)! After that, Dimmesdale dies because he allows his guilt to just destroy him. When Dimmesdale dies, Chillingworth has no point in life anymore so he soon after dies too. After all this Hester goes back to her house in her old life. She is depressed because she was so close to having a great life with Dimmesdale. â€Å"But there was a more real life for Hester Prynne here, in New England, than in that unknown region where Pearl had found a home. Here had been her sin; here, her sorrow; and here was yet to be her penitence.She had returned, therefore, and resumed,—of her own free will, for not the sternest magistrate of that iron period would have imposed it,—resumed the symbol of which we have related so dark a tale. Never afterwards did it quit her bosom. But . . . the scarlet letter ceased to be a stigma which attracted the world’s scorn and bitterness, and became a type of something to be sorrowed over, and looked upon with awe, and yet with reverenc e, too. † (Page 257) In The Crucible, there seems to be revenge mostly just jealousy.In this play, it’s mostly out of jealousy because Abigail wishes she was John’s husband and is jealous of Elizabeth. She does her revenge by trying to get her convicted of witchcraft which in the end backfires because Elizabeth lives and John dies. In The Scarlet Letter there is mostly revenge because Chillingworth loathes Dimmesdale because he slept with his wife. Chillingworth does his revenge by torturing Dimmesdale with guilt but this also backfires because Dimmesdale gets out of it and Chillingworth dies because he has nothing else to live for. To conclude, The Crucible and The

Corporate Financial Management Lecturer’s Guide

CFML_A01v3. QXD 8/6/08 3:51 PM Page 1 Lecturer’s Guide Corporate Financial Management Fourth edition Glen Arnold For further lecturer material please visit: www. pearsoned. co. uk/arnold ISBN 978-0-273-71064-6  © Pearson Education Limited 2008 Lecturers adopting the main text are permitted to download and copy this guide as required. CFML_A01v3. QXD 8/6/08 3:51 PM Page 2 Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies around the world Visit us on the World Wide Web at: www. pearsoned. co. uk ––––––––––––––––––––––––––––––––––– First published under the Financial TimesPitman Publishing imprint in 1998 Second edition published 2002 Third edition published 2005 Fourth edition published 2008  © Financial Times Professional Limited 1998  © Pearson Education Limited 2002, 2005, 2008 The right of Glen Arnold to be identified as author of this Work has been asserted by him in accordance with the Copyright, Designs and Patents Act 1988. ISBN-978-0-273-71064-6 All rights reserved. Permission is hereby given for the material in this publication to be reproduced for OHP transparencies and student handouts, without express permission of the Publishers, for educational purposes only.In all other cases, no part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without either the prior written permission of the Publishers or a licence permitting restricted copying in the United Kingdom issued by the Copyright Licensing Agency Ltd. , Saffron House, 6-10 Kirby Street, London EC1N 8TS. This book may not be lent, resold, hired out or otherwise disposed of by way of trade in any form of binding or cover other than that in which it is published, without the prior consent of the Publishers.CFML_A01v3. QXD 8/5/08 4:16 PM Page 3 CONTENTS Preface Location of answers to questions and problems SUPPLEMENTARY MATERIAL FOR CHAPTERS Chapter 1 The financial world Chapter 2 Project appraisal: Net present value and internal rate of return Chapter 3 Project appraisal: Cash flow and applications Chapter 4 The decision-making process for investment appraisal Chapter 5 Project appraisal: Capital rationing, taxation and inflation Chapter 6 Risk and project appraisal Chapter 7 Portfolio theory Chapter 8 The capital asset pricing model and multi-factor models Chapter 9 Stock markets Chapter 10 Raising equity capitalChapter 11 Long-term debt finance Chapter 12 Short-term and medium-term finance Chapter 13 Treasury and working capital management Chapter 14 Stock market efficiency Chapter 15 Value management Chapter 16 Strategy and value Chapter 17 Value-creat ion metrics Chapter 18 Entire firm value measurement Chapter 19 The cost of capital Chapter 20 Valuing shares Chapter 21 Capital structure Chapter 22 Dividend policy Chapter 23 Mergers Chapter 24 Derivatives Chapter 25 Managing exchange-rate risk  © Pearson Education Limited 2008 5 6 7 10 14 20 24 29 33 38 40 43 47 51 54 58 59 64 66 72 74 77 81 84 86 91 96 3 CFML_A01v3.QXD 8/5/08 4:16 PM Page 4 Supporting resources Visit www. pearsoned. co. uk/arnold to find valuable online resources Companion Website for students ? Learning objectives for each chapter ? Multiple-choice questions with instant feedback to help test your learning ? Weblinks to relevant, specific Internet resources to facilitate in-depth independent research ? A wide selection of FT articles, additional to those found in the book, to provide real-world examples of financial decision making in practice ? Interactive online flashcards that allow the reader to check definitions against the key terms during revision Sear chable online glossary For instructors ? Complete, downloadable Instructor’s Manual including answers for all question material in the book ? A brand new set of over 800 PowerPoint slides that can be downloaded and used as OHTs Also: The regularly maintained Companion Website provides the following features: ? Search tool to help locate specific items of content ? E-mail results and profile tools to send results of quizzes to instructors ? Online help and support to assist with website usage and troubleshooting For more information please contact your local Pearson Education sales representative or visit www. earsoned. co. uk/arnold CFML_A01v3. QXD 8/5/08 4:16 PM Page 5 PREFACE This Guide is designed to assist lecturers and tutors using Corporate Financial Management fourth edition. Supplementary material for chapters For each chapter: †¢ The learning outcomes are outlined. †¢ Key points and concepts are listed. †¢ Solutions to selected numerical problems (thos e marked with an asterisk in the main book) are provided. Note that there is often more than one possible correct solution to a problem. Different answers, which nevertheless follow the logic of the argument presented in the text, may be acceptable.Overhead projector transparency masters Also available on the website in PowerPoint ® for downloading are over 800 selected figures, tables and key points reproduced in a form suitable for creating overhead projector transparency masters. These are arranged in the order in which they appear in Corporate Financial Management. The learning objectives and summary points from the chapters are also included. Glen Arnold  © Pearson Education Limited 2008 5 CFML_A01v3. QXD 8/5/08 4:16 PM Page 6 LOCATION OF ANSWERS TO QUESTIONS AND PROBLEMS (No answers given to those in final column)Chapter No Answered in Appendix VII Answered in Lecturer’s Guide 1 Essay answer required (see text) All (see note in Appendix VII) 2 1, 2, 4, 5, 6 3, 7 3 1 , 2, 3, 6, 9, 11, 13, 15 4, 5, 7, 8, 10, 12, 14 4 1, 2, 4, 5 3 5 1, 2, 3, 5, 6, 9, 10 4, 7, 8 6 1, 4, 5, 6, 7, 8, 9, 10, 11 2, 3, 12 7 1, 2, 3, 7, 8, 9, 10, 11, 12, 13, 15 4, 5, 6, 14a, b, c 8 1, 3, 4, 5, 7, 8, 9, 10 6, 7, 8, 9 14d 2, 6, 11 9 1–11 10 12 8 1–7, 9–11, 13–19 11 1, 2, 3, 4, 5, 6, 10, 11, 13, 16 7 8, 9, 12, 14, 15, 17–20 12 1, 2, 4, 9, 10, 11 5, 12 3, 6, 7, 8, 13, 14, 15 13 1, 4, 5, 7, 9, 10 3a, 6, 8, 23, 25a , 3b, 11, 12, 13–22, 24, 25b, 25c 14 2 15 8, 9 1, 3–17 7, 10 16 1–6 1–4 17 1, 5, 6, 7 18 1, 2 19 2, 3 1 20 3, 4, 5, 6, 7, 9 8, 10 1, 2 21 2, 3, 6a, 9 1 4, 5, 6b, 7, 8 22 4, 5, 8 23 6 1, 3, 4, 5 2, 7, 8, 9 24 1, 2, 3, 4, 5, 7, 10 6, 8, 9 11, 12, 13 25 1, 2, 7, 8a, 10, 11 4, 9 3, 4b, 5, 6, 8b 6 2, 3, 4, 4a 8 1, 2, 3, 4, 7  © Pearson Education Limited 2008 CFML_CH01v3. QXD 29/7/08 17:25 Page 7 SUPPLEMENTARY MATERIAL FOR CHAPTERS Chapter 1 THE FINANCIAL WORLD L EARNING OUTCOMES It is no good learning mathe matical techniques and theory if you lack an overview of what finance is about.At the end of this chapter the reader will have a balanced perspective on the purpose and value of the finance function, at both the corporate and national level. More specifically, the reader should be able to:  ¦ describe alternative views on the purpose of the business and show the importance to any organisation of clarity on this point;  ¦ describe the impact of the divorce of corporate ownership from day-to-day managerial control;  ¦ explain the role of the financial manager;  ¦ detail the value of financial intermediaries;  ¦ show an appreciation of the function of the major financial institutions and markets. K EY POINTS AND CONCEPTS Firms should clearly define the objective of the enterprise to provide a focus for decision making.  ¦ Sound financial management is necessary for the achievement of all stakeholder goals.  ¦ Some stakeholders will have their returns satisfied – gi ven just enough to make their contribution. One (or more) group(s) will have their returns maximised – given any surplus after all others have been satisfied.  ¦ The assumed objective of the firm for finance is to maximise shareholder wealth. Reasons: – practical, a single objective leads to clearer decisions; – the contractual theory; – survival in a competitive world; it is better for society; – counters the tendency of managers to pursue goals for their own benefit; – they own the firm.  ¦ Maximising shareholder wealth is maximising purchasing power or maximising the flow of discounted cash flow to shareholders over a long time horizon.  ¦ Profit maximisation is not the same as shareholder wealth maximisation. Some factors a profit comparison does not allow for are: – future prospects; – risk; – accounting problems;  © Pearson Education Limited 2008 7 CFML_CH01v3. QXD 29/7/08 17:25 Page 8 Glen Arnold, Corporat e Financial Management Lecturer’s Guide, 4th edition – communication; – additional capital. Corporate governance. Large corporations usually have a separation of ownership and control. This may lead to managerialism where the agent (the managers) take decisions primarily with their interests in mind rather than those of the principals (the shareholders). This is a principal-agent problem. Some solutions: – link managerial rewards to shareholder wealth improvement; – sackings; – selling shares and the takeover threat; – corporate governance regulation; – improve information flow.  ¦ The efficiency of production and the well-being of consumers can be improved with the introduction of money to a barter economy. Financial institutions and markets encourage growth and progress by mobilising savings and encouraging investment.  ¦ Financial managers contribute to firms’ success primarily through investment and finance decis ions. Their knowledge of financial markets, investment appraisal methods, treasury and risk management techniques are vital for company growth and stability.  ¦ Financial institutions encourage the flow of saving into investment by acting as brokers and asset transformers, thus alleviating the conflict of preferences between the primary investors (households) and the ultimate borrowers (firms). Asset transformation is the creation of an intermediate security with characteristics appealing to the primary investor to attract funds, which are then made available to the ultimate borrower in a form appropriate to them. Types of asset transformation: – risk transformation; – maturity transformation; – volume transformation.  ¦ Intermediaries are able to transform assets and encourage the flow of funds because of their economies of scale vis-a-vis the individual investor: – efficiencies in gathering information; – risk spreading; – transaction costs.  ¦The secondary markets in financial securities encourage investment by enabling investor liquidity (being able to sell quickly and cheaply to another investor) while providing the firm with long-term funds.  ¦ The financial services sector has grown to be of great economic significance in the UK. Reasons: – high income elasticity; – international comparative advantage.  ¦ The financial sector has shown remarkable dynamism, innovation and adaptability over the last three decades. Deregulation, new technology, globalisation and the rapid development of new financial products have characterised this sector. Banking sector: – Retail banks – high-volume and low-value business. – Wholesale banks – low-volume and high-value business. Mostly fee based. – International banks – mostly Eurocurrency transactions. – Building societies – still primarily small deposits aggregated for mortgage lending. – Fina nce houses – hire purchase, leasing, factoring. 8  © Pearson Education Limited 2008 CFML_CH01v3. QXD 29/7/08 17:25 Page 9 Glen Arnold, Corporate Financial Management Lecturer’s Guide, 4th edition  ¦ Long-term savings institutions: – Pension funds – major investors in financial assets. Insurance funds – life assurance and endowment policies provide large investment funds.  ¦ The risk spreaders: – Unit trusts – genuine trusts which are open-ended investment vehicles. – Investment trusts – companies which invest in other companies’ financial securities, particularly shares. – Open-ended investment companies (OEICs) – a hybrid between unit and investment trusts.  ¦ The risk takers: – Private equity funds – invest in companies not quoted on a stock exchange. – Hedge funds – wide variety of investment or speculative strategies outside regulators’ control.  ¦ The markets: The money markets are short-term wholesale lending and/or borrowing markets. – The bond markets deal in long-term bond debt issued by corporations, governments, local authorities and so on, and usually have a secondary market. – The foreign exchange market – one currency is exchanged for another. – The share market – primary and secondary trading in companies’ shares takes place on the Official List of the London Stock Exchange, techMARK and the Alternative Investment Market. – The derivatives market – LIFFE (Euronext. liffe) dominates the ‘exchange-traded’ derivatives market in options and futures.However there is a flourishing over-the-counter market. There are no numerical questions in this chapter; answers may be found from reading the text.  © Pearson Education Limited 2008 9 CFML_CH02v3. QXD 29/7/08 17:26 Page 10 Chapter 2 PROJECT APPRAISAL: NET PRESENT VALUE AND INTERNAL RATE OF RETURN L EARNING OUTCOMES By the end of the chapter the student should be able to demonstrate an understanding of the fundamental theoretical justifications for using discounted cash flow techniques in analysing major investment decisions, based on the concepts of the time value of money and the opportunity cost of capital.More specifically the student should be able to:  ¦ calculate net present value and internal rate of return;  ¦ show an appreciation of the relationship between net present value and internal rate of return;  ¦ describe and explain at least two potential problems that can arise with internal rate of return in specific circumstances;  ¦ demonstrate awareness of the propensity for management to favour a percentage measure of investment performance and be able to use the modified internal rate of return. KEY POINTS AND CONCEPTS  ¦ Time value of money has three component parts each requiring compensation for a delay in the receipt of cash: the pure time value, or impatience to consume, – inflation, – risk.  ¦ Opportunity cost of capital is the yield forgone on the best available investment alternative – the risk level of the alternative being the same as for the project under consideration.  ¦ Taking account of the time value of money and opportunity cost of capital in project appraisal leads to discounted cash flow analysis (DCF).  ¦ Net present value (NPV) is the present value of the future cash flows after netting out the initial cash flow. Present values are achieved by discounting at the opportunity cost of capital.NPV = CF0 +  ¦ (1 + k)2 + †¦ CFn (1 + k)n 0 accept 0 reject CF1 1+r + CF2 (1 + r)2 + †¦ CFn (1 + r)n =0 The internal rate of return decision rule is: IRR IRR 10 CF2 Internal rate of return (IRR) is the discount rate which, when applied to the cash flows of a project, results in a zero net present value. It is an ‘r’ which results in the following formula being true: CF0 +  ¦ 1+k + Th e net present value decision rules are: NPV NPV  ¦ CF1 opportunity cost of capital – accept opportunity cost of capital – reject  © Pearson Education Limited 2008 CFML_CH02v3. QXD 29/7/08 17:26 Page 11Glen Arnold, Corporate Financial Management Lecturer’s Guide, 4th edition  ¦ IRR is poor at handling situations of unconventional cash flows. Multiple solutions can be the result.  ¦ There are circumstances when IRR ranks one project higher than another, whereas NPV ranks the projects in the opposite order. This ranking problem becomes an important issue in situations of mutual exclusivity.  ¦ The IRR decision rule is reversed for financing-type decisions.  ¦ NPV measures in absolute amounts of money. IRR is a percentage measure.  ¦ IRR assumes that intra-project cash flows can be invested at a rate of return equal to the IRR.This biases the IRR calculation.  ¦ If a percentage measure is required, perhaps for communication within an organisation, th en the modified internal rate of return (MIRR) is to be preferred to the IRR. ANSWERS TO SELECTED QUESTIONS 3 Confused plc a Project C IRRs at 12. 1% and 286%. See Fig. 2. 1. NPV + 12. 1 – 286 Discount rate Fig. 2. 1 Project D No solution using IRR. See Fig. 2. 2. + NPV Discount rate – Fig. 2. 2 b This problem illustrates two disadvantages of the IRR method. In the case of project C multiple solutions are possible, given the non-conventional cash flow.In the case of project D there is no solution, no IRR where NPV = 0. c NPV Project C: +? 646 Project D: –? 200 Using NPV the accept/reject decision is straightforward. Project C is accepted and Project D is rejected.  © Pearson Education Limited 2008 11 CFML_CH02v3. QXD 29/7/08 17:26 Page 12 Glen Arnold, Corporate Financial Management Lecturer’s Guide, 4th edition 7 Seddet International a Project A At 20%: –5,266 + 2,500 ? 2. 1065 = 0, ? IRR = 20% Project B At 7%: –8,000 + 10,000 ? 0. 8163 = +163 At 8%: –8,000 + 10,000 ? 0. 7938 = –62 IRR = 7 + 163 163 + 62 (8 – 7) = 7. 7% Project CAt 22%: –2,100 + 200 ? 0. 8197 + 2,900 ? 0. 6719 = +12. 45 At 23%: –2,100 + 200 ? 0. 8130 + 2,900 ? 0. 6610 = –20. 5 IRR = 22 + 12. 45 12. 45 + 20. 5 (23 – 22) = 22. 4% Project D At 16%: –1,975 + 1,600 ? 0. 8621 + 800 ? 0. 7432 = –1 ? IRR is slightly under 16%. The IRR exceeds the hurdle rate of 16% in the case of A and C. Therefore if all projects can be accepted these two should be undertaken. b Ranking under IRR: Project Project Project Project C A D B IRR 22. 4% 20% 16% 7. 7% best project c Project A –5,266 + 2,500 ? 2. 2459 = 349 Project B –8,000 + 10,000 ? 0. 6407 = –1,593 Project C 2,100 + 200 + 0. 8621 + 2,900 ? 0. 7432 = 228 Project D –1,975 + 1,600 ? 0. 8621 + 800 ? 0. 7432 = –1 12  © Pearson Education Limited 2008 CFML_CH02v3. QXD 29/7/08 17:26 Page 13 Glen Arnold, Corporate Financia l Management Lecturer’s Guide, 4th edition Ranking Project A Project C Project D Project B NPV 349 best project 228 –1 –1,593 Project A ranks higher than project C using NPV because it generates a larger surplus (value) over the required rate of return. NPV measures in absolute amounts of money and because project A is twice the size of project C it creates a greater NPV despite a lower IRR. This report should comment on the meaning of a positive or negative NPV expressed in everyday language. It should mention the time value of money and opportunity cost of capital and explain their meanings. Also the drawbacks of IRR should be discussed:  ¦ multiple solutions;  ¦ ranking problem – link with the contrast of a percentage-based measure and an absolute moneybased measure;  ¦ additivity not possible;  ¦ the reinvestment assumption is flawed.  © Pearson Education Limited 2008 13 CFML_CH03v3. QXD 29/7/08 17:26 Page 14 Chapter 3 PROJECT APPRAISAL: CAS H FLOW AND APPLICATIONS LEARNING OUTCOMESBy the end of this chapter the reader will be able to identify and apply relevant and incremental cash flows in net present value calculations. The reader will also be able to recognise and deal with sunk costs, incidental costs and allocated overheads and be able to employ this knowledge to the following:  ¦ the replacement decision/the replacement cycle;  ¦ the calculation of annual equivalent annuities;  ¦ the make or buy decision;  ¦ optimal timing of investment;  ¦ fluctuating output situations. KEY POINTS AND CONCEPTS  ¦ Raw data have to be checked for accuracy, reliability, timeliness, expense of collection, etc.  ¦Depreciation is not a cash flow and should be excluded.  ¦ Profit is a poor substitute for cash flow. For example, working capital adjustments may be needed to modify the profit figures for NPV analysis.  ¦ Analyse on the basis of incremental cash flows. That is, the difference between the cash flows arisin g if the project is implemented and the cash flows if the project is not implemented: – opportunity costs associated with, say, using an asset which has an alternative employment are relevant; – incidental effects, that is, cash flow effects throughout the organisation, should be considered along with the obvious direct effects; sunk costs – costs which will not change regardless of the decision to proceed are clearly irrelevant; – allocated overhead is a non-incremental cost and is irrelevant; – interest should not be double counted by both including interest as a cash flow and including it as an element in the discount rate.  ¦ The replacement decision is an example of the application of incremental cash flow analysis.  ¦ Annual equivalent annuities (AEA) can be employed to estimate the optimal replacement cycle for an asset under certain restrictive assumptions. The lowest common multiple (LCM) method is sometimes employed for short-lived as sets. Whether to repair the old machine or sell it and buy a new machine is a very common business dilemma. Incremental cash flow analysis helps us to solve these types of problems. Other applications include the timing of projects, the issue of fluctuating output and the make or buy decision. 14  © Pearson Education Limited 2008 CFML_CH03v3. QXD 29/7/08 17:26 Page 15 Glen Arnold, Corporate Financial Management Lecturer’s Guide, 4th edition A NSWERS TO SELECTED QUESTIONS 4 Mercia plc a Proposal 1 Consultant’s fee – sunk cost Central overhead – irrelevant Depreciation – irrelevant Time (years) ?000s 0Earthmoving Construction Ticket sales Operational costs Council Senior management Opportunity cost Cash flows –1,650 3>? 2 –100 –1,650 Discounted Cash flows 1 –150 –1,400 –200 +600 –100 –100 –50 +600 –100 –50 +150 0 +450 150 (1. 1)2 450/0. 1 (1. 1)2 + NPV = + ? 2. 193m Propos al 2 Central overhead (? 70,000) – irrelevant Consultants fees (? 50,000) – sunk cost Time (years) ?000s 0 1 2 3 –100 5,000 –4,000 –400 –100 5,000 –4,000 –400 –100 Design & build Revenue Operating costs Equipment Executive Opportunity cost Sale of club –9,000 Cash flow –9,100 –100 Discounted cash flow –9,100 –100 1. 1 –100 +11,000 500 + 500 (1. 1)2 +11,500 + 11,500 (1. 1)3 NPV = –? 137,566 Recommendation: accept proposal 1 IRR Proposal 1: 20. 2% Proposal 2: 9. 4%  © Pearson Education Limited 2008 15 CFML_CH03v3. QXD 29/7/08 17:26 Page 16 Glen Arnold, Corporate Financial Management Lecturer’s Guide, 4th edition 5 Mines International plc a Survey – sunk cost Time (years) ?m Profit (loss) Add depreciation Capital equipment Survey 0 1 2 3 4 5 0 0 –4. 75 –2. 1 0 –4. 75 0. 30 3. 9 2. 0 4. 7 2. 0 4. 7 2. 0 2. 9 2. 0 1. 5 0 0 0 2. 0 –2. 0 2. 0 2. 25 –0. 25 2. 25 2. 25 0 2. 25 1. 75 +0. 50 1. 75 0 +1. 75 0. 125 0. 125 0. 125 0. 10 0 –0. 25 0. 10 0 –0. 10 Debtor adjustment: Opening debtors Closing debtors Creditor adjustment Opening creditors Closing creditors 0 0. 15 +0. 15 Overheads Hire cost Cash reserves Government refund Cash flow Discounted cash flow 0. 2 0. 15 0. 10 0. 10 0. 125 –0. 05 +0. 025 0. 2 0. 2 –0. 1 0. 2 –1. 0 5. 125 0. 2 +1. 0 +0. 2 –5. 75 –5. 75 –6. 20 4. 05 6. 575 6. 9 8. 075 1. 85 –6. 20 + 4. 05 + 6. 575 + 6. 9 + 8. 075 + 1. 85 1. 12 (1. 12)2 (1. 12)3 (1. 12)4 (1. 12)5 (1. 12)5. 125 = –5. 75 – 5. 536 + 3. 229 + 4. 680 + 4. 385 + 4. 582 + 1. 035 = ? 6. 625m The maximum which MI should bid in the auction is ? . 625m. This additional cash outflow at time zero would result in a return of 12% being obtained. (Some students may time the final debtor and creditor payments at time 5. 25 as time 6. ) b IRR = 29. 4%. c Poin ts to be covered:  ¦ Time value of money.  ¦ Opportunity cost of money for a given risk class.  ¦ Sunk cost.  ¦ Treatment of depreciation.  ¦ Allocated overhead treatment.  ¦ Cash injections.  ¦ Hire cost – opportunity cost. Comparison of NPV with other project appraisal methods: Advantages over IRR: – measures in absolute amounts of money; – ranking problem; – multiple solution problem. 16 Pearson Education Limited 2008 CFML_CH03v3. QXD 29/7/08 17:26 Page 17 Glen Arnold, Corporate Financial Management Lecturer’s Guide, 4th edition  ¦ Advantages over payback: – time value of money allowed for; – all cash flows considered; – cash flows within pay back period considered properly.  ¦ Advantages over ARR: – firm theoretical base, time value of money; – defined decision criteria. 7 Reds plc One-year cycle: Time (years) 0 1 –10,000 –12,000 8,000 – 4,000 NPV = –10,000  œ 4,000 ? 0. 9009 = –13,604 AEA = –13,604 0. 9009 = –? 15,100 Two-year cycle: Time (years) 0 1 2 –10,000 –12,000 –13,000 ,500 –6,500 NPV = –10,000 – 12,000 ? 0. 9009 – 6,500 ? 0. 8116 = –26,086 AEA = –26,086 1. 7125 = –? 15,233 Three-year cycle: Time (years) 0 1 2 3 –10,000 –12,000 –13,000 –14,000 3,500 –10,500 NPV = –10,000 – 12,000 ? 0. 9009 – 13,000 ? 0. 8116 – 10,500 ? 0. 7312 = –39,039 AEA = –39,039 2. 4437 = –? 15,975 Reds should replace the machinery on a one-year cycle.  © Pearson Education Limited 2008 17 CFML_CH03v3. QXD 29/7/08 17:26 Page 18 Glen Arnold, Corporate Financial Management Lecturer’s Guide, 4th edition 8 Immediate replacement: Time (years) 0 1>? +4,000 –15,100 +4,000 –15,100 0. 11 = –? 133,273Replacement after one year: Time 0 + 2>? –2,000 –2,00 0 1 3,000 –15,100 0. 9009 – 15,100/0. 11 1. 11 3,000 ? = –? 122,966 Replacement after two years: Time 0 1 2 3>? –2,000 –1,000 +1,500 –15,100 –2,000 –1,000 ? 0. 9009 + 1,500 ? 0. 8116 –15,100/0. 11 (1. 11)2 = –? 113,097 Recommendation: Commence replacement cycle after two years. 10 Curt plc Incremental cash flows Time (years) 0 –70,000 –28,000 28,000 37,000 47,100 68,410 ? ? ? ? ? 0. 8621 0. 7432 0. 6407 0. 5523 0. 4761 2 3 4 5 0 –70,000 100,000 –80,000 –48,000 110,000 –82,000 121,000 –84,000 133,100 –86,000 146,410 –88,000 10,000 –70,000 Current cash flowsNew plan 1 –28,000 28,000 37,000 47,100 68,410 = = = = = = –70,000 –24,139 20,810 23,706 26,013 32,570 8,960 The positive incremental NPV indicates that acceptance of the proposal to manufacture in-house would add to shareholder wealth. 18  © Pearson Education Limited 200 8 CFML_CH03v3. QXD 29/7/08 17:26 Page 19 Glen Arnold, Corporate Financial Management Lecturer’s Guide, 4th edition Other factors: some possibilities The relative bargaining strength of Curt and its supplier. Perhaps a search for another supplier would be wise. Perhaps it would be possible to negotiate a multi-year price agreement.Are there some other incidental effects Curt has not considered, e. g. factory space usage? 12 Netq plc Output per year: 1,000 ? 0. 3333 ? 2 1,000 ? 0. 3333 ? 0. 75 ? 2 1,000 ? 0. 3333 ? 0. 5 ? 2 = 667 500 333 1,500 Cost of annual output 1,500 ? ?4 = ? 6,000 PV = 6,000/0. 13 = ? 46,154 Both machines replaced: Annual costs 1,500 ? ?1. 80 = ? 2,700 PV = 14,000 + 2,700 0. 13 = ? 34,769 One machine is replaced: Old Output: first third of year second third of year last third of year New 333. 3 166. 7 0 500 333. 3 333. 3 333. 3 1,000 Annual costs 500 ? 4 + 1,000 ? 1. 8 = ? 3,800 PV = 7,000 + 3,800 = ? 6,231 0. 13 The lowest cost option is to replace both m achines. 14 Opti plc Costs One-year replacement: PV = 20,000 – 6,000/1. 1 = 14,545 AEA = 14,545/0. 9091 = 16,000 Two-year replacement: PV = 20,000 + 6,000/1. 1 – 1,000/(1. 1)2 = 24,629 AEA = 24,629/1. 7355 = 14,191 Three-year replacement: PV = 20,000 + 6,000/1. 1 + 8,000/(1. 1)2 + 4,000/(1. 1)3 = 35,072 AEA = 35,072/2. 4869 = 14,103 Four-year replacement: PV = 20,000 + 6,000/1. 1 + 8,000/(1. 1)2 + 10,000/(1. 1)3 + 10,000/(1. 1)4 = 46,410 AEA = 46,410/3. 1699 = 14,641 The optimal replacement cycle is 3 years.  © Pearson Education Limited 2008 9 CFML_CH04v3. QXD 29/7/08 17:27 Page 20 Chapter 4 THE DECISION-MAKING PROCESS FOR INVESTMENT APPRAISAL LEARNING OUTCOMES The main outcome expected from this chapter is that the reader is aware of both traditional and discounted cash flow investment appraisal techniques and the extent of their use. The reader should also be aware that these techniques are a small part of the overall capital-allocation planning process. The studen t is expected to gain knowledge of:  ¦ the empirical evidence on techniques used;  ¦ the calculation of payback, discounted payback and accounting rate of return (ARR);

Banana Yoshimoto comparative essay

Banana Yoshimoto effectively portrays various common themes and motifs in both â€Å"Helix† and â€Å"Newlywed†, in revealing the subconscious state of mind of the respective protagonists. Although the storylines are quite different, we get the feeling that many themes and strategies such as isolation, incredible poetic effect, and the recurring use of a helper figure used to develop the characters, are relatively interchangeable. These literary patterns allow for the protagonists to both escape the shallowness that plagues them, and bring to light the deeper meaning behind their subconscious (now conscious) struggles, especially those relating to their true feelings for their personal companions. Isolation is a recurring theme that is a catalyst for the subconscious state causing the climactic epiphanies within the protagonists of both stories. This is comparably portrayed through the blatant representation of shallow urban relationships. In â€Å"Helix†, we witness this theme of shallowness through the personal thoughts of the protagonist at the beginning of the story. In a moment of reflection, the protagonist exclaims, I feel as if my heart will stop beating, because once I know that much about a woman, it can never work out between us. (Helix, 651) Alluding to his lover, this theme of shallowness is difficult to ignore as the narrator is transparently portraying his ability to write off a relationship on incredibly superficial grounds. In â€Å"Newlywed† however, Banana uses the same approach in order to portray this theme of isolation, yet goes to quite an extreme to illustrate her character’s subconscious thoughts. The transformation from bum to beauty is a symbolic element of the story, and is supposed to confuse both the narrator and the reader at first, but it soon becomes clear that there is a deeper philosophical meaning to this odd occurrence. This bizarre intervention, in what seemed to be quite an ordinary context, rapidly changes the pacing and evolution of the story itself. At first, the narrator is unsure of himself, which ultimately leads the reader to question the reliability of his story: â€Å"I tried convincing myself that this was nothing more than a drunken nightmare. That’s what it was, an ugly duckling dream, a transformation from bum to beauty.† (Newlywed, 5) The isolation that surrounds the protagonists of Newlywed and Helix both physically and emotionally is what ultimately leads to the epiphanies that expose the underlying feelings towards their companions. Whether it is an empty train cabin, or the deserted city of Tokyo, Yoshimoto definitely seeks to portray the feeling of seclusion in order to emphasize the revelations that expose the protagonists’ true emotions. Another common aspect in both â€Å"Helix† and â€Å"Newlywed† is Yoshimoto’s use of poetic language and literary symbolism in order to develop both her characters and the story with greater depth. Despite that fact that many of the descriptions that she gives on behalf of the narrator are purely physical, and extremely shallow, it is an important aspect of both stories, as it helps lead to the dramatic changes that occur within the protagonists. In â€Å"Newlywed† for example, when the beautiful woman on the train asks the narrator about his wife, the first description that he gives, is purely physical: â€Å"She’s short, and slender, and has long hair. And her eyes are real narrow, so she looks like she’s smiling, even when she’s angry.† (Newlywed, 6) These superficial descriptions may be attributed to the fact that the narrator was in a â€Å"drunken state†, yet clearly depict him as a man that is not madly in love with his wife. By contrast, the poetic imaging in â€Å"Helix† reveals a man that is clearly in love with his girlfriend. Even near the beginning of the story, when he is expressing his feelings of uncertainty toward his relationship, he still gives this poetic illustration of his girlfriend: â€Å"She was like an evening moon, her white light almost swallowed by the gradations of pale blue sky.† (Helix, 651) This beautiful poetic image of his girlfriend is surprising to the reader, as he had just explained that he was having difficulty overcoming her idiosyncrasies. This dramatization brings the reader to the realization that the protagonist’s stream of consciousness narration is very unpredictable, yet will ultimately lead to his ability to expose his true feelings as the story develops. The author clearly likes to represent this feeling of indecision with poetic illustration as it is used several times in both stories. In â€Å"Newlywed†, the narrator vividly describes his mixed feelings toward his wife, Atsuko, during the peak of his epiphany-like experience: â€Å"For me, the beautiful, all-encompassing web spun by this creature is at once so polluted, yet so pure that I feel compelled to grab on to it. I am terrified by it but find myself unable to hide from it. At some point I have been caught up in the magical power she has.† (Newlywed, 16) Banana doesn’t strictly limit her poetic language to the story’s character development; she also uses it to depict specific moods in order to contextualize certain situations that shake up the intensity of the story itself. Coincidentally, in both â€Å"Helix† and â€Å"Newlywed†, the feeling of isolation is commonly portrayed throughout both stories with the unique use of grandiose language. This allows the protagonists to avoid any outside distractions that would interfere with the personal situations that they have to deal with. Tokyo is described as being a ghost town at the beginning of â€Å"Helix†, for example. â€Å"There was not a soul on the dark streets, save the autumn wind. I encountered this emptiness at every moonlit corner I turned†. (Helix, 651) Clearly unusual in a city like Tokyo, Yoshimoto is almost desperately taking this context to the extreme in an attempt to add an element of absurdity to the situation, and maintain a clear line of focus on the protagonist and his continuous train of thought. In â€Å"Newlywed†, she uses the same strategic language to create a context of solitude in order isolate the protagonist: â€Å"I looked around to see if anyone else had witnessed this amazing transformation, but the passengers in the neighboring cars seemed miles away, in a totally different space, separated by a transparent wall, all looking just as tired as they had moments before, indifferent to my surprise.† (Newlywed, 4) The language that Yoshimoto uses is not only unique, but allows the reader to fully contextualize themselves within the story, and fully comprehend the conscious and unconscious struggles within each story’s protagonist. The use of helper figures is another way that the author both challenges and exposes the protagonists. The most evident helper figure from both stories is the seemingly god-like character that transformed from a homeless man to a beautiful woman in â€Å"Newlywed†. The interpretation of this symbolic figure is entirely left to the reader’s imagination, yet its crucial role in the storyline and to the protagonist’s character development is indisputable. This peculiar intervention is a clear example of how far Yoshimoto is willing to go to force her characters to express their thoughts. At first, it is difficult to process what the narrator is depicting; yet as the story develops, we quickly learn that this character has a specific purpose to act as catalyst to the protagonist’s epiphany-like reflection about his life, specifically in relation to marriage. After opening up to this woman about his life, he explains how he felt about what he had experienced on the train that night: â€Å"Deep inside, I felt timid, even scared, not about my own drunkenness or fear that my mind was playing tricks on me, but the more basic sensation of encountering something much larger than myself, and feeling immeasurably small and insignificant by comparison†. (Newlywed, 12) From this, the reader is able to see that this man is clearly having a life changing experience that is allowing him to re-evaluate the major aspects of his life, including his relationship. This helper figure to the protagonist allowed him to bring out the subconscious struggles that seemed to weigh on him throughout the story. On the other hand, â€Å"Helix† presents multiple helper figures, some seeming as random and arbitrary as that of â€Å"Newlywed† and similarly allows the protagonist to truthfully evaluate and ultimately expose how he feels about the woman that he loves. The first helper figure that seems to startle the narrator does not take the form of a person, but rather a situational mind-cleansing seminar that his girlfriend brings to the table. She explains, â€Å"I guess that’s the chance you take if you go to one of these sessions. You might even end up forgetting things that seemed really important to you, things you don’t want to forget†. (Helix, 652) This seminar quickly becomes a euphemism for breaking up in the mind of the narrator, and his response, â€Å"don’t go†, unconsciously shows his fear of losing her. This ultimately shifts the dynamic of the story as he had previously inferred his desire to break up with his girlfriend at the beginning of the story. Yoshimoto also inserts a random explosion near the end of â€Å"Helix† as the lovers discuss their love for each other. Much like most of the random events that present themselves in her stories, there is a deeper meaning below what we see at the surface. This strange intervention that causes people to â€Å"[poor] into the [empty] streets from every doorway† (Helix, 654) encapsulates the unpredictability that is portrayed throughout the story, and through the narrator’s stream of consciousness narration. This ultimately leads the story to end on a note of misunderstanding and confusion surrounding the protagonist’s comparison of love to the helix of a strand of DNA. The interventions are not only incorporated to reveal and expose the true feelings of each protagonist, but also change the dynamic of each story and help maintain a feeling of unpredictability toward the narratives themselves, as well as the unreliability of the protagonists.

Market Potential Case Study Example | Topics and Well Written Essays - 1000 words

Market Potential - Case Study Example The savings that arise from the 20% of the high income groups can then be used to facilitate the small scale businesses to develop in the rural areas, making them flourish and reducing the stark disparity between the two income classes. 2) With 65% of the population living in the rural areas, there is an opportunity to set up industries that can make the country self-sufficient in the creation of goods that it imports at present like iron, steel, telecommunication equipment etc. in this way the gap between exports and imports can be widened, improving the overall economy of the country. Rural areas can be honed to cultivate the lands by the use of locally developed modern machinery to cut down the imports of industrial inputs through backward integration. In this way new avenues can be utilized to improve the income distribution’s polarity. 3) With the HDI of 0.72 the country shows that the indicators are better and there is a potential of urbanizing the rural populations. This means that life expectancy, education and income levels are increasing in the country making people adopt a different mindset and have an increase in purchasing power. Thus, Shopping malls and brands could have a potential scope in the country and it wouldn’t be wrong to foresee a demand for such goods in the future. These brands could be developed locally as well; for example, one of the major exports of Serendib is shoes. If the focus is on creating and developing its own brand and then stepping into the international arena, there is a chance of leveraging out the lost income in form of provision of unbranded footwear to big brands abroad. 4) While the HDI of 0.72 indicates a good standard of living in the country, this can be seen as an opportunity to provide opportunities to the people. When there are adequate facilities and ample resources available, there is a scope for investment. Serendib can be profitable for technological business

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Business Aspects of the School Community & Human Resources and School Finance - Essay Example Merit pay refers to an approach that is used to compensate and reward teachers based on their performance. This is done through incentives such as additional pay. Numerous counties and district schools have implemented merit pay based on student attainment test scores. The pay increment is based on goals and achievements set by the school administrator or the principal. Debates on the implementation of performance pay have resulted to heated debates by authors, scholars and even political leaders. Various individuals have supported it citing advantages while others have fought against its adoption citing its disadvantages. Brimley and Garfield (2008) assert that employment of merit pay in an institution or region results to improved student and teacher performance. Arguably, researchers and authors note that rewarding teachers and tutors according to their efficacy would be coherent to management maxims from the private segment and would result to better student and teacher performan ce. Research indicates that merit pay contributes to student pay. Evidence has it that, in the implemented counties and states, more than 50 percent of the schools who have implemented merit pay perform better than the schools who have not implemented merit pay. From this, Brimley and Garfield (2008) note that the incentives acts as motivational factors that prompt teachers to work hard and perform better. Implementation of merit pay in Tennessee would lead to improved student and teacher performance. On the other hand, merit pay assists in recruitment and retention of teachers within the schools and the county. In reference to Brimley and Garfield (2008), schools that adopt merit pay approach attract competent and highly trained teachers than those who have not implemented the approach. Lower socioeconomic schools in Tennessee can use this approach to attract qualified teachers and tutors. Research has it that low socio-economic schools attract highly skilled teachers after adoptio n of merit pay. Debatably, merit pay programs can also lessen the challenge of teacher retention. Brimley and Garfield (2008) argue that performance pay motivates the teachers and helps in keeping the training teachers from leaving school and the profession. Merit pay can assist Tennessee County retain and attract competent and highly skilled personnel. Merit pay helps identify the best performers in schools and reward them according to their efforts. This, in turn, motivates the teacher to perform better and achieve better results. Adoption of merit pay by Tennessee County can assist in boosting teacher morale and in turn boost its performance. However, implementation of merit pay has arguments opposed to it. Numerous researches have shown that merit pay contributes to low teacher drive and poor results. According to Brimley and Garfield (2008), merit pay promotes unhealthy competition among teachers. All the teachers want to achieve high and receive rewards. This leads to reduced corporation among the teachers as one will feel that they are helping the other teacher attain high performance and get the reward. Research has shown that some of the teachers have gone to the extent of bribing and inducing students to rate or perform poorly in a teacher’s subject so that they may receive the award. This may lead to poor performance in the schools and the Tennessee County in general. In addition, a teacher’s merit is difficult to measure. According to Bri

A Competency Based, Critical Review of Leadership and Management in My Essay

A Competency Based, Critical Review of Leadership and Management in My Work Organisation - Essay Example The report highlights the key learning points in these two management perspectives and evaluates their role and impact on project outcomes. Specify what you have learnt from the experience in your chosen management competences A key aspect driving the success of any enterprise is its leadership capabilities and competencies of the workforce that contribute to the realization of defined goals and objectives (Deresky, 2006). During the course of our leading and management program, I learnt the significance of individual leadership and motivation in accomplishing task goals and objectives. The theoretical aspects of our course familiarized me to the conceptual frameworks and evidences that drive individual performance in teams and factors that contribute to the efficiency of workforce. While this provided a foundation for our learning process, it was the live project work and assignment that helped me realize my individual strengths and shortcomings in my role as team-player. I came up with the idea of launching innovative training videos and online application tools through OIT (Oxford Information Training). The team was responsible for conceptualizing and framing the company’s product design, framing its marketing and financial strategies to give a distinct shape and direction to OIT’s goals and objectives. The team began with allocating roles and responsibilities to achieve this. The whole exercise provided us with new learning experience and it helped us in recognizing our potentials and limitations in our role as team players and leadership capabilities. The project highlighted my abilities in leading and managing my team members through various tasks and responsibilities. The 8 week exercise began with the conceptualization of the project idea and the key aspects that needed to be fulfilled in order to present that idea as viable and feasible to other teams. The idea to promote our company and its services on facebook was mine and the fact that others accepted it and appreciated it was a big source of motivation for me. Theoretical evidences have claimed that a true leader is one who can inspire and motivate others to adopt a single path that leads to goal fulfilment (Maxwell, 2008). I have managed to guide my team members through role allocation and delegation of tasks, besides helping them through task execution and collaborating potential issues that might have ruined the success prospects. Motivation is yet another aspect driving the performance of teams and their willingness to give their best in order to achieve the defined goals and targets (Adair, 2007). Motivation seemed lacking in some cases in our team since few members were unwilling to take certain roles and responsibilities. However, this was easily overcome with more team discussions that helped in motivating the team members to assume their roles and responsibilities. Moreover, motivation in teams, as I strongly experienced during this project contributed to creative ideas and innovative thoughts that can make the difference between success and failure of projects. The product concept involved my idea of producing a video for recruiting staff in organizations. A key aspect to be incorporated in this video was a mock interview (my idea) that will focus on dealing with inter-cultural workforce needs and behavioural forms during interviews. DeCarlo (2010) in his works on leadership and motivation identified four principles using motivation to guide innovative practices at workplace – initiating change, developing people’s desire to make a difference, creating ownership for results, and monitoring results for continued effectiveness. Motivation thus can contribute to combined efficiency at workplace and generate innovative ideas for effective results

Father Junipero Serra's view on The Ohlone Way Essay

Father Junipero Serra's view on The Ohlone Way - Essay Example . Therefore, I humbly request Your Excellency to treat my Report with utmost secrecy. The name of the book is The Ohlone Way : Life in the San Francisco- Montrrey Bay Area .The authors are Malcolm Margolin, and Michael Harney The latter has also illustrated the book , which is a slim volume of only 174 pages divided into four parts. The authors start by giving the various Indian tribes such as Sioux, the Novajo and others a single name â€Å"Ohlone† The first part of the volume is dedicated to describing the Bay area as we know it now. Without thanking or mentioning our Savior even once, they describe a land of plenty.. The plentiful animal and aquatic life of the area seems to have vanished. at the time the book is written ,two hundred years hence. They write with regret about the wild geese and ducks which are so abundant now that they rise with a noise of thunder at a gunshot. About the grizzly bears, which our Spanish people catch for use in the reprehensible practice of Bear-and –Bull fight they say, â€Å"Today there is not a single grizzly left in all of California† (p.8) Their writings show a sympathy for wild animals, birds and aquatic animals which have been created by the Almighty God solely to serve man in his quest for salvation. More than the animals, it is the life of the savages whom the authors call â€Å"Ohlones† which shocks one. The Ohlones , as we already know, are a depraved people, who commit the cardinal sin of worshipping spirits of animals. According to the authors, â€Å"But their intimate knowledge of animals did not lead to conquest, nor familiarity breed contempt.† The Ohlones sing and dance at all times, living a life of pleasure, forgetting the next world which awaits them. .Instead of suffering for the sake of the Lord, they enjoy themselves in this world, without a care for the other world. The authors of the book are corrupted by the Devil. Although they have good,

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HRM Innovation and Change - Essay Example strategic goals to maintain competitive advantage through reorganization and emphasizing on improved communication amongst the management and employees. He also ensured that new arenas were explored for innovation and new product development introduced for the pre-defined customers as per their changing requirements with competitive pricing. The given text has reaffirmed the need of managerial leadership that has become imperative to facilitate more accommodating approach to the changing dynamics of the organizational culture and management. The integrated approach promotes collective vision of the organization and provides the necessary impetus to the employees to strive towards it. The management needs to accept the challenge of creating a cohesive and encouraging atmosphere so that the workers could get effective learning environment. They are provided with a wider scope for professional growth in the area of core competencies. Indeed, with the global competition becoming increasingly stiff, the jobs specifications are becoming less rigid and changing the overall perspective of job criteria and employment. The compulsions of the present times require versatility in the working force. Individuals and firms must embrace the culture of multi skilled professionals that are able to meet the challenges with efficiency and unmatched proficiency. The fundamental HR strategy must become more flexible for managing successful organization workforce. In the contemporary business environment, effective communication is essential for inculcating shared responsibilities, common goals and collective decision making. It can thus, be concluded that human resource strategy has become the most critical factor that develops the highly indigenous team of human capital that helps to provide the organization with a competitive advantage that is unique. HR initiatives are vital ingredients of managing change. The workforce is the backbone of an organization and the HR strategy needs

Arrticle #2 Essay Example | Topics and Well Written Essays - 500 words

Arrticle #2 - Essay Example that disparities in hiring can be addressed through collaborative efforts between college graduates and employers on matters of knowledge, skills, and qualification. The concerns highlighted by Goldfarb are relevant to any given individual seeking employment after graduating from college. Meeting employment requirements is a significant challenge for new labor market entrants. Most employers build qualification on the number of years of experience, thereby disregarding new graduates on the basis that they need more experience to secure an employment position. Experience comes after working and applying one’s knowledge and skills. Without experience, then new college graduates are likely to remain unemployed. Personally, graduate training could address this hiring paradox. The article, Benefits of College Degree in Recession Are Outlined, by Pà ©rez-Peà ±a (2013) presents a recession scenario that seemed to favor people with college degrees. The hardships associated with the 2007-2009 recession were less felt by people with college degrees compared to people with high school diploma and associate’s degrees. Holders of college degrees observed a slight change in their percentage wage drop, while holders of high school diploma and associate’s degrees saw their wages drop by at least double the college graduates’ percentage. The recession was a good measure of the positions held by various education levels in the labor market. On the same note, the recession tested job security concerns that holders of certificates, diploma, and degrees have in relation to their respective level of education. Personally, the recession outlined that advanced education level are better and relatively stable in time of economic hardships. The labor market is increasingly shifting its demand towards advanced knowledge, skills, experience, and individual competitiveness. The article, The Go-Nowhere Generation, by Buchholz and Victoria (2012) is an account of a growing behavior

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Summarize the article - Essay Example government-mandated labels are â€Å"the energy star ratings used on household goods and environmental hazard warnings required on pesticides and products with CFCs or toxic substances† (DSouza, 2004). Self-declarations are the claims of manufacturers such as â€Å"recyclable† or â€Å"biodegradable†. These environmental labels affect different types of green consumers and their buying habits. D’Souza used a two-dimensional model to present the four types of green consumers namely, the environmentally-green consumers, emerging green consumers, price sensitive green consumers, and conventional consumers (2004). These consumers are differentiated on the basis of their cognitive and non-cognitive perspectives, and the perceived product benefits and risks. They behave differently towards label information. It is necessary therefore for marketers and manufacturers to segregate their target markets and determine the category to which they fall. The type of consu mer and their response to the label and ecological attributes of the product have marketing implications which must be considered in the design of the marketing strategies of companies. Environmental labelling should be a primary concern of every manufacturer today because of the growing concern for environmental issues. Label information will help selective consumers to make informed purchasing decisions, whether they are green consumers or

Deadly Unna Film Essay Example for Free

Deadly Unna Film Essay Australian Rules A comparative review by Anita Jetnikoff (QUT) for Australian Screen Education. Published as: Jetnikoff, Anita (2003) Australian Rules: a comparative review. Australian Screen Education(30):36-38. The title may mislead some viewers, as this is not a film about a football code, anymore than Bend it with Beckham is about soccer. This powerful, brave and rather brutal feature is the debut of Paul Goldman, who co-wrote the screenplay with the novelist Phillip Gwynne. Both the storylines and characters from Gwynne’s awardwinning novel Deadly Unna? nd its sequel Nukkin Ya, have been combined in the film, which was commissioned by South Australian Film Corporation for the Adelaide Festival of Arts 2002, and caused a furore with the local Aboriginal community. The film was screened after much deliberation over the objections against depictions of a character resembling a member of the Penninsular community. This certainly suggests collaboration with Indigenous communities could have been sought at earlier stages of the project. In my reading of the film, however, it is the white community who emerge the more brutal, bigoted and shameful. The Aboriginal community, on the other hand, represent solidarity, and sharing. The film was released and promoted by Palace, with the slogan ‘live by the rules play by the rules’. There is, however, an almost apartheid divide between the black [Nunga) and white [Goonya) communities in this film and the central character’s personal navigating between the two, means he must break unwritten rules. The film is based on aspects of two novels, the partly autobiographical novel Deadly Unna, and its sequel, Nukkin Ya, Nunga expressions for ‘Great hey’ and ‘See you later’. Both novels were easy to read and full of humour in spite of the serious subject matter of racism, interracial relationships, adolescent angst, death and revenge. The novels belong to the adolescent problem or coming-of-age genre and are being studied in secondary schools. The film has little of the novels’ lightness and the narrator’s ability to laugh at himself and his community’s foibles. This sometimes disturbing film’s tone is brutal, the landscape stark, sordid and in decay. Most of the characters occupying the saline, arid coastal town are nasty. The adult men are barflies, maggot breeders, fornicators and losers and the women are victims or sluts. This hopeless adult world offers nothing for the young in this fishing town. Viewers are invited to identify with the young, for whom hope lies in escape. The central figure of Blacky (Nathan Phillips), is an intelligent 14 year old caught between the literary world of his imagination and the literal world of his small towns’ bigotry. His mother, who encourages him to play football and to do well at school, is a battler, a victim of his father’s brutality. The dilapidated house the Black family occupy oozes poverty and neglect. These are white fringe dwellers. In the novel Blacky refers to what kind of chops the family will consume as indicative of the ‘pov metre’. They shop at the local op shop. Like many small rural Australian towns, this coastal community struggles to survive. The black and white communities in the region are divided, separated physically by a stretch of coastline, whites at the port and blacks at the point. Even the local pub segregates the Aboriginal drinkers from the white ones. The irony is that the local football team is only viable when the Aboriginal boys come over from the point to play. The sporting fixture allows the communities to merge, but the union stops there. Blacky crosses the racial divide to befriend Dumby Red (Luke Carroll) a talented Aboriginal Australian Rules Player from the Point and to romance Dumby’s sister Clarence (Lisa Flanagan). Whereas book built up the friendship through Blacky’s doubt and hesitation about Dumby, this is not dealt with in the film. The film opens with the two characters already mates, sitting together in the dilapidated shed of the red dirt football field, commiserating over the ineffectiveness of their coach, Arks (Kevin Harrington). Dumby’s spectacular football prowess has been spotted by a city talent scout, which sets up the need for him to win best Player in the final against a much stronger team. A contract to a city football team would mean a possible escape from the bigotry and emptiness of the Penninsular—his chance to be a sporting success. Blacky finds himself an unwitting hero and awarded best team man for winning the premiership game. He unwittingly collides with the toughest star player on the opposing team and is knocked unconscious, along with his gigantic opponent. The shooting sequences of the match were not especially riveting, but this was in keeping with the importance of the game to the story. The film is not about winning or losing, but the personal integrity of the play or the journey in the ongoing process of discovering identity. The medal for ‘Best on the Ground’, rightly belonged to Dumby Red. His ticket out of the hopeless community, however, was denied to him, because rather than kicking a sure goal, he had passed a ball to a cousin who had not handled the ball all day. The cultural code of sharing was stronger than the competitive need to win. In the film, the loss of the award to the coach’s son paves the way for Dumby’s tragic demise. He joins Pretty (Tony Briggs) in an armed robbery of the pub, perhaps to extract an alternative prize to the one he’d been denied. The publican, Mac, laid out in a drunken stupor on the pool table, is beaten even more senseless by Pretty. The noise rouses Blacky’s father (Simon Westaway) who shoots and kills his son’s friend Dumby Red in revenge for the publican’s beating. In the novel the publican was the murderer, but the film’s central villain is Blacky’s father, Bob, who represents fear, loathing and menace. His violent rages left his own family in fear of him. In one memorable scene they escape his menacing torment of their mother behind closed doors by escaping through the window and sleeping in the chicken coop. The feeling is that this experience was not new to them. Blacky is torn in the novel between his initial attraction to Clarence in Deadly Unna, which he conceals from his white ‘friends’ in order to attract the attention of a rich white ‘camper’ girl. In the sequel this relationship between Blacky and Clarence and Blacky and his father represent two kinds of coming of age. His masculinity is tested early on in a storm at sea and later when he was caught in the shed stealing paint to cover a racist slogan in the local boatshed. His intelligence means little to his father, and his good grades and scholarship to Kings College in Adelaide are ignored. In the sequel Nukkin Ya, the filial relationship seems almost mended when his father takes on the renovation of a ‘windjammer’ to bring potential tourism to the town. His father’s project becomes obsessive at the expense of putting food on the family’s table, but the male relationship seems to be temporarily repaired along with the boat, which becomes symbolic of rebuilding strength, unity and hope around the fantasy of the future. In the novels we experience Blacky’s angst at discovering his father’s infidelity to his mother. Blacky and his friend Pickles, stumble upon their adulterous fathers visiting the Aboriginal women at the point. The irony of this is that the entire community seemed set gainst the burgeoning love relationship between Blacky and Dumby’s sister Clarence. The fact that the cross-race relationship of the father is not dealt with in the film makes his violent reaction to finding Clarence innocently sleeping alongside Blacky in his bedroom connected more with his hatred of Aboriginal people, than it is to do with his guilt over murdering Dumby Red. It is a response reduced to racism alone, rather than his own guilt and hypocrisy, which in the novels is built up subtly through the two volumes. The antagonist in the second novel, having moved away from the father, is embodied by the figure of Lovely (Pretty, in the film) who menaces Blacky over his relationship with Clarence. Lovely sports a hate tattoo on his fingers and is a violent instigator in both book and film. The disclosure of the white men’s infidelity at the expense of the black women, who remain nameless and faceless, leads to the climax of the second novel. The boat is set alight, which symbolizes the death of the relationships between Blacky and his father and his community. Lovely is framed, Blacky absolves Lovely in court by taking the blame, but Pickles (Tom Budge ) was the real arsonist. This false confession, leads to Blacky becoming a cipher in his own town, where boats and the sea are peoples workplaces. He becomes a ‘boat burner’ in the cultural imaginary and is forced to leave. In the film this purging is less powerful and seems to emerge from some kind of corporate malice rather than revenge. Pickles manically sets alight rival maggot breeder Darcy’s breeding drums, which has less symbolic poignancy than the boat burning in the novel. Blacky’s central challenge in the film is to reaffirm his masculinity by standing up to his father, through the relationship with Clarence. Blacky is constructed by his father as a ‘gutless wonder. ’ Blacky’s painful journey to manhood, is much harsher in the film than the book. In the novel the father is a violent adulterer, but in the film, he kills Blacky’s best friend. Blacky’s attendance at Dumby’s funeral represents a betrayal of familial solidarity in the eyes of the father. The relationship was not strong enough however, for Blacky to take his father’s side. At this point, Blacky abdicates from identifying with his father. He has begun to flee the emasculated self constructed by his father, towards a more potent, sexual self, embodied by his attraction and identification with the other through the literal ‘body’ of Dumby and the physical, sexual body of Clarence. What is morally worrisome is that the father, who both Blacky and the viewer see as a murderer, continues to live in the community with impugnity, the ‘common sense’ gap we fill is that he claims he shot Dumby in selfdefense. Blacky courageously resists his father’s imperative to stay away from the funeral. In the film’s powerful and moving climax, the battered, but united family in the background witnesses the final stand off between father and son. Blacky literally stands up to his father, not by competing in battle of fists, but resisting by sheer will and strength of character. The father leaves in a vicious rage and we can’t help feeling that the family will be better off with him gone. The second novel Nukkin Ya begins with hope of Blacky taking a scholarship at Kings in Adelaide. His girlfriend Clarence achieves a scholarship to art school and Blacky has a reason to follow her. The film ends with the two young lovers romantically swimming in the clear waters, symbolically cleansing themselves of the grime and grease of prejudice, which had tainted their relationship until that point. The film treats the romance in a much lighter way than the books. There is no stand off between the characters; in fact Clarence becomes Blacky’s bridge between the two cultures. In the film it is Clarence who stands up to Bob Black in Blacky’s bedroom with dignity and silent resistance. Lisa Flanagan’s performance was elegant and dignified. It was Clarence who gently cut through the wall of hostility from the Nunga boys at her brother’s funeral- allowing Blacky to mourn his friend’s death. It was Clarence who understood Blacky’s poetic allusions to dying stars- these two are cosmically connected and there is an almost Shakespearean sense of their fate. The love scenes provide the film’s only softness and the resolution, although moving, is not sentimental. The young people must leave the still-divided community, to survive together.

Principles of Assessment Essay Example for Free

Principles of Assessment Essay Question 1: Define the key concepts and principles of assessment We should always consider what the assessment experience of assessment is like for our learners. Considering key principles in the designing of our assessments will keep our views fresh and reflective. Key principle 1: Put the learner at the heart of the assessment. The assessment experience should be a motivational one for our learners. It is only by developing the learners understanding of the function of assessments and enabling their development as a learner that a motivational experience is facilitated. Learners often feel detached or on the periphery of assessment because they perceive it as something that is forced upon them rather than a tool that they can use to aid their development. In order to achieve this, assessment needs to be an ongoing process that the learner can take ownership of by highlighting their own areas for development. Subsequently the learner feels a greater sense of autonomy which helps develop confidence in their own ability. Key principle 2: Assessment needs to provide a view of the whole learner. Assessment should reflect our objective of developing the whole learner. In order to achieve this, a broader picture should be painted, both for the learner and the assessor. To achieve this we need the learner to draw on experiences that are external to the learning environment. Developing links with the community, peers and family members will enable the learner to make connections between skills that are gained in the classroom and relate them to situations and skills in life. This can only be positive as an increase in motivation and relatedness will inevitably be enjoyed. Key principle 3: Assessment is integral to teaching and learning. Embedding assessment in teaching and learning is essential to creating personalised learning. In order for this embedding to be successful, we need to recognise the signs that learning is being achieved and by integrating multi-modal experiences and activities, we can generate a multitude of evidence that learning is taking place. Making assessment the focal point of a session facilitates differentiation and highlights individual learners’ needs and potential pathways to future learning. However, assessment needs to be planned carefully and in detail so that most assessment activities can be learner led with minimal input from the tutor/assessor. Key principle 4: Assessment includes reliable judgements about how performers are performing related, where appropriate, to national standards. Linking assessment is essential for consistency, tracking progress and evaluating the impact of the assessments. National standards ensure consistency within the specific educational establishment and across various institutions, which is a minimum entitlement of all learners. Evidence can be shared by tutors and assessors within a department, a college and within an entire sector in order to share best practice and gain confidence. Through national standards, learners have the opportunity to track their progress and compare it with other learners and institutions. Question 2: Explain the responsibilities of the assessor. First and foremost, assessors should be the guardians of standards by not comparing the work of one individual to the work of another’s. Using the assessment cycle will add structure to the tutor and enable them to integrate a continuous process of assessment throughout the curriculum. Stage 1: Assessment design – quality assessments should be planned to give the learners the opportunity to engage with formative tasks. They should also get the chance to undertake summative tasks to demonstrate their learning. The use of realistic, authentic experiences will help energize the learners. Stage 2: Communication – this phase is where the standards and content of the assessment is communicated to the learners. Parameters of assessment outcomes are set. Stage 3: marking – marking is not just about providing a grade. Techniques and activities should be introduced so that learners and peers can actively take part in the grading process. This can assist students in the understanding of the task and also inform future learning. Stage 4: Analysis of results – consistency in marking is essential to help keep learners motivated. If inconsistencies are seen in a group, maintaining positivity becomes difficult. Learners should explore results and be offered the opportunity to comment on their grading. Stage 5 – Feedback – possibly the most important element of the assessment cycle. Supportive, informative and constructive feedback should be offered to enable students to see how they performed. The feedback should include advice on how to improve their learning and future performances (feed-forward feedback). Feedback should be offered continuously and in a cyclic manner. Question 3: identify the regulations and requirements relevant to assessment in your own area of practice. Regulations †¢ It is a requirement that centres provide CYQ with the following: †¢ List of named assessors with signatures †¢ Details of all assessors’ qualifications and experience (CVs). †¢ Copies of all relevant certificates †¢ Clear specification of the assessment roles and responsibilities †¢ A well planned assessment process from induction to final assessment day plan †¢ A valid and reliable assessment of knowledge and skills that is appropriate to the CYQ syllabus and aligned to the national standards †¢ Evidence of Assessor/internal quality assurer meetings to review and standardise assessment practice to meet national standards †¢ Centre policy and practice in relation to fair assessment provision for any individual assessment needs of learners Requirements. †¢ Carrying out assessments in accordance with CYQ assessment specifications and assessment documentation †¢ Ensuring evidence provided by learners is sufficient to meet CYQ requirements †¢ Providing feedback to the learner about performance and achievement †¢ Devising and agreeing an assessment action plan with the learner as appropriate †¢ Completing all relevant assessment forms and returning them to the internal quality assurer/Centre Contact †¢ Providing feedback to the internal quality assurer †¢ Upholding the standards of the award http://www. cyq. org. uk/files/role-of-the-assessor. pdf Question 4: Compare the strengths and limitations of a range of assessment methods with reference to the needs of individual learners. |Assessment method |Strengths |Limitations |Meeting individual needs | |Group work |-Seeing peoples’ point of view. |-Learners with more introverted |-Social loafers can be put into groups | | |-Learn from one another. |personalities may be uneasy in a |that include environmental influencers | | |-Improves social interaction. |group situation. |to ensure an even workload. | |Peer and self-assessment |-Increased autonomy. |-Validity can be reduced due to |-Can inform summative marking by | | |-Encourages self reflection. |self-grading. |assessing individual contributions. | | | |-Reliability can be reduced due | | | | |to peers grading each other. | | |Patchwork texts |-Help contribute to an holistic |-Intensive prep time to produce |-Embedding literacy helps achieve level| | |understanding of content. |resources. |2 content. | | | |-Complexity of task means less |-Encourages diversity through | | | |able learners need additional |interaction with many people | | | |guidance. |continuously. | http://www. reading. ac. uk/web/FILES/eia/AZ_of_Assessment_Methods_FINAL_table. pdf Question 5: Summarize key factors to consider when planning assessment. Disability Adequate provision must be made for students who have disabilities and / or special educational needs when designing and planning assessments. Legislation requires learners’ needs to be anticipated (The Equality Act 2010). This is so that measures are in place to meet needs before they are actually required. These measures can potentially be beneficial for all learners. Know what you are assessing Criterion-referenced assessment is the most commonly used method of assessment. We must ensure that assessment criteria are clearly defined so that learners are fully aware as to what is expected of them. This will also keep the feedback specific to the assessment and specific to the learning outcomes, enabling learners to highlight potential future learning pathways. Timing your assessments If you conduct formative assessments at too late a stage, constructive feedback cannot be acted on, making the assessment pointless. Conversely, summative assessments being conducted too early will take away the learners ability to develop their knowledge and can lead to reduced confidence. You must make an effort not to over assess. Too much assessment can mean less time to reflect, feedback and act on areas for development. Question 6: Summarize the types of risks that may be involved in assessment in your own area of responsibility. Health safety – the suitably of the environment must be considered during the planning stage of assessment. Maximum utilization of preventative measures should be observed e. g. risk assessments should be carried out to minimize risk of injury. Equipment checklists should be completed to ensure that any equipment being used is fit for purpose. First aid kits should be available if required as well as communication to relevant health and safety officers and assigned first aiders. Timescales – particular attention should be paid to timescale parameters in assessment. Every effort should be made to ensure that adequate time is provided for the assessment to be completed and for feedback to be provided to the learners. It is essential that time parameters are realistic and achievable for ALL learners. Learning impairment – any learners with visual, hearing or any other learning impairment should be considered during assessment. Different levels of differentiation should be utilized to ensure that ALL learners’ needs are adequately provided for. For example, you could provide larger print or zoom for learners with a visual impairment or writing with different coloured markers on a whiteboard for learners with dyslexia. Technology – when using assessments that include the use of technology, it is always a possibility of technological failure. Weather – if planning practical assessments in an outside environment, you are always planning against the elements, particularly in this country. Question 7: explain how to minimise risks during the planning process Adequate preparation of the assessment environment is essential to the provision of the safety of the learners. A risk assessment should always be carried out before the assessment begins. The appropriateness of the environment is also a major consideration. The assessment environment should suit the type of assessment that you are carrying out. For instance, when planning practical assessments in the gym, it is down to me as the assessor to ensure that the environment is fit for purpose i. e.the equipment in the gym must be regularly safety checked and maintained. There should be documented evidence that safety checks and maintenance has taken place that can be checked by Internal and External Quality Assurers. Any repairs that are required should be carried out within a reasonable timescale and documented so as not to disrupt the smooth running of the programme. Assessment should always assess what is meant to be assessed, in accordance with the curriculum and awarding body specifications. Failure to adhere to these guidelines will mean that the assessment will be invalid. Consistently meeting the set standards of the awarding body and the institution will make the assessments reliable. This means that the assessments will be reliable and consequently, any external or independent assessors or IQA/EQA can make judgements at any given time. Keeping learners informed as to the time, place and nature of their assessment will enable them to prepare adequately for it. It will also act as a timetable for us as tutors/assessors to enable us to prepare adequately and make sure that there is sufficient quality and relevance in delivery prior to the assessment taking place. It is always a good idea to share your assessment ideas with colleagues before submitting them to learners. Sharing ideas and information with peers is a great way discovering and enabling best practice. Question 8: Summarise the types of information that should be made available to learners and others involved in the assessment process The course planner is made available to learners from day zero of the course. The course planner contains all key information as gleaned from the scheme of work. Key information would include; session topics, aims and objectives, activities and assessment methods. The course planner is available on moodle so that learners can access it. In the sessions I make the session aims and objectives available to learners from the moment they walk through the door. Immediately, the learner is aware what is required of them in the session. Leading from the aims and objectives, the learners are made aware of the activities that they will be doing and how these activities relate to the objectives. I will usually do this through a prezi. All prezi’s are subsequently embedded onto moodle. I embed web links into the relevant moodle page so that learners can research relevant information from credible sources. It is crucial that timescales are made available on the course planner and assignment deadlines are reiterated constantly throughout the duration of the course. Learners are always made aware of the, methods of assessments that will be taking place. This enables the learner to prepare themselves for the assessment and fill any gaps in their knowledge that may exist. Question 9: Explain how peer and self assessment can be used effectively to promote learner involvement and personal responsibility in the assessment of learning |Peer assessment |Self assessment | |Strengths |limitations |Strengths |limitations | | | | | |.

Properties of Urena lobata Linn (Caesar Weed)

Properties of Urena lobata Linn (Caesar Weed) PLANT PROFILE Urena lobata Linn. Botanical Name: Urena lobata Linn. Common Name: Caesar weed Parts Used: Leaves, Stem, Root and Whole plant      Fig 1. Urena lobata Linn Taxonomical Classification Kingdom: Plantae Unranked: Angiosperms Unranked: Rosids Order: Malvales Family: Malvaceae Subfamily:Malvoideae Tribe: Hibisceae Genus: Urena Species: U. lobata Synonyms :U. americana U. grandiflora, ,U. trilobataVell., Urena diversifolia Vernacular names Vernacular names are shown in Table Table Vernacular Names of Urena lobata SI. No. Languages Vernacular Names 1 Hindi Bachata, Bachit, Bachita, Bala Bhed, Brachta, Chatkura,Dudh-Khal, Kapasi, Kunjia, Lapetua, Lotloti, Unga, Vilaiti San 2. Malayalam Urppam Ottey Udiram, Uram, Uran, Uren, Vatti, Vatto 3. Kanada Baralu Kaddi Mara, Bekkina Hejje Gida Dodda Bende, Dooda Bende, Hamsapaadi, Kaadu Thutthi, Otte, Otte Mara, Vatta 4. Marathi Rantupkada,Rantupkuda, Tupkato, Vanabendha, Vana-Bhenda, Vanbhendi, Wagdau Bhendi 5. Sanskrit Vanabhenda, Nagabala, Bala, Atibala 6. Tamil Ottatti, Ottattutti, Ottu Thuththi, Ottukututti, Ottuttutti, Ottuttutti 7. Telegu Nalla Benda, Nallabenda, Padanikaada, Pedda Benda, Peddabena, Peddabenda, Piliyamankena, Vana Benda 8. English Aramina Fibre, Congo Jute, Cousin Mahoe, Guaxima General description of Urena lobata  Linn Caesar weed called as Bur Mallow, Aramina, Hibiscus Bur and Pink Chinese Burr. It is a sub shrub 60 cm to 300 cm in altitude and basal diameter is 7 cm. Bark is downy and is hard and gristly, within the bark is green in color and outside it is brown in color the wood is medium in density and pale yellow in color. The herb is sustain through lateral and tap root arrangement. The color of ivory or brown and root system is flexible and hard-hitting roots. The plant is typically have a solitary stem rising from the land however usually generate more than a few stems and main twigs small in the shoot and a lot of twigs the whole time. Dis-colorous, grayish-green, alternating leaves are pubertal on below and above the leaf. Leaves are angulated, oval in shape and lobbed as shallow of 1 to 12 cm. They have margins of indent shape.. The shape of the fruit is globose and of 8mm to 10 mm of capsules shape and it is having mericarps of five smooth barbed. The plant grows throughout moisttropic and subtropical regions (Liogier 1994). Habitat: Urena lobata Linn, is a herbaceous, upright and semi-woody. It is coming under shrub growing, tomentose and 60 100 cm or more tallness. The young stem as well as branches are covered with somewhat harsh spreading stellate hairs (tomentum) and bearing simple, alternate variable broadly ovate to round cordate, angled or lobed leaves and sessile or shortly stalked pinkish auxiliary flowers. Leaves: Leaves of the plant are simple, alternate, petiolate and stipulate;blade-very variable. Usually the leaf is broader than long round or ovate, up to 10-15 cm long, cordate at the base angled or shallowly 5-7 lobed, the lobes not extending half way down or occasionally nearly obsolete generally acute or acuminate, serrate, stellately tomentose on both surface. But, paler beneath with five to seven pairs of basal nerves which are prominent on the under surface and below the basement region there is a large gland and occasionally at the base of two lateral also. Flowers: Pink colored flowers of Axillary shape and are of typically lonely and petals of five in number. The size of about 1 cm in board. Flower of the herb is shown in Fig Fig Flower of Urena lobata Petiole:  Variable in length. Stem:  Moderately thick, pubescent in young ones and smooth in mature ones, with long inter nodes. Root:  The root system consists of the taproot and several branching lateral roots are fairly stout and brown in colour. These may attain a diameter of 5-6 mm and length varying from 20-25 cm. Very small wiry cream color rootlets arise from the lateral roots. Small lenticels are also present towards to base and the outer surface of the root. Major chemical constituents The main constituents of Urena lobataLinn, include flavonoids and flavonoid glycosides such as ÃŽ ²-sitosterol, stigmasterol, furocoumarin, imperatorin, mangiferin and quercetin (Keshab2004).It also contains kaempferol, luteolin, hypolatin and gossypetin. Geographical source Caesar Weed belongs to Asia. Herb breeds all through damp sub-tropic and tropical province counting India, Florida, Hawaii, Guam, Louisiana and in American Samoa. Environmentalism Urena lobata willingly assault anxious region, particularly badly cope scarified-pastures and eroded-areas, and it is a plantation of perennial category. This herb is less difficulty in yearly yield. Herb does not grow in wood-canopies. This plant is not struggle healthy in giant meadow and brush-lands. Cultivation Seed propagation is the method of cultivation of Urena lobata. Before sowing the seeds in the prepared land is has soak it in water for 90 min and it will result a high germination rate of 96%.. the seeds are discrete by adhere to fur and clothing. The small seedlings are planted in the on the well-prepared land.. Soil The plant will grow in a different range if soil. Fertility range also differs and the new plant will get fertilizer from parent-materials. It will not cultivate in saturated oil where all the minerals exhausted. It is having the capacity to with held the salt in the soil. Water it is need for its healthy cultivation Growth and management Urena lobata grow very fast and it will reach height of 0.5 to 2 m in tall in the first year itself. After the first season it will dying-back i.e. its second year of its first of growth we can collect the fiber after 7-8 months from the plant. It will yield a fiber of 1800 kg/hectare. These fibers are recognized from seeds only. 300-500 kg/ha seeds are getting from the plants of 7 -8 months of age. Since the plant of hostile type the planting in wild way is not advisable. Benefits and Detriments This herb grows as colonies in the concerned area. This growing nature of the plant help to guard the soil, whereas provides wrap in support of natural world. The gorgeous flowers which will contribute to the aesthetic area which hare colonized. Aramina is the fiber which will obtain from this herb, which looks like jute fiber. Congo-jute is the fiber manufactured in Africa and Brazil from the same plant (Fagundes, 2003). A variety of extract obtained from the roots and leaves from the plant are benefits as herbal-medicine. These extracts are used for varieties of disease like malaria, wounds, toothache, fever, colic and joint-pain. A report shows the raw leaves of Urena lobata hold the phosphorous of 67 mg/100g, ash of 21gm, 0.1 gm of fat, 3.2 g protein, 12.8 gm of carbohydrates, moisture of 81.8 %, Calcium of 558 mg and fiber of 1.8 gm. Leaves of Caesar weed give a semi-purified glycoside which is 86 % as effectual as the aspirin which is used as anti-inflammatory medicine in rats. In Africa the flowers and leaves are used as a famine food. The animal fur and the burs that are collected on clothing are a nuisance. On the other hand, the plant can become a harsh-weed in plantations and pastures and it is slight browsed by the cattle. Uses The traditional uses of the plant were found to be diuretic, febrifuge. and rheumatism. It sever as food for animals as well as humans (Mazumder et al,  2001). It is used for malaria, gonorrhea, wounds and toothache.