Communications Persuasive Essay Essay Example for Free

Communications Persuasive Essay Essay Specific purpose: I would like to persuade my audience that drug test screenings should be mandatory in order for welfare recipients to receive their money. Introduction Attention material: How many if you have jobs? How many if the people with jobs like to see a huge chunk of their check MIA due to state and federal taxes? And how many of you like knowing that that chuck of your check thats missing could very well be going towards someones drug addiction? Thesis Statement: By enforcing a mandatory drug test to all welfare recipients, you ensure that hard working peoples tax dollars are being used the correct ways, and not being used to support a drug addiction, Preview: Today I will inform you on the pros of drug testing welfare recipients, how many states have already passed this law, how many states are trying to pass the law, the cons of the drug testing, and what we can do to out this plan into action. Body I. What benefits would drug testing welfare recipients have on our country? A. David Vitter of U.S. News Weekly states, by drug testing welfare recipients, it would ensure that all hardworking taxpayers’ money Id going to get used in the correct and intended way. The nation is already in enough debt of more than $14 trillion, does it make much sense to be wasting tax money on illegal drugs and dishonest welfare recipients? That makes no sense at all! (Vitter, 2011) B. Enforcing drugs testing will also force drug users or addicts that are looking for financial assistance to get help before receiving money that would have been used to feed their ongoing addiction (Vitter, 2011) By coming up with a plan to make drug user go to rehabilitation centers and treating their addiction before they receive financial assistance from the government will cause people to either get better first, or not have the opportunity to take the tax money and waste it on illegal drugs anyway. ll. Where in the United States has this law been implemented? A. Many states have tried very hard to get the drug testing law put into place and used effectively but not all have succeeded. In fact only 7 of the 29 that have proposed the law have had it passed in their state. The states that have the law include Florida, Utah, Michigan, Tennessee, Arizona, Missouri, and Oklahoma. Many of the states that have Mercado 3 tried to get this law into effect include North Dakota, Arkansas, New Hampshire, Texas, Kansas, Maine, Wyoming, and Virginia (National, 2013) III. What are the possible cons to drug testing welfare recipients? A. Two Michigan mothers, both on welfare argue that the drug testing law in effect in their state is it if constitutional grounds. Tanya Marchwinski, one of these mothers states, Just because we are lower income we are singled out. Makes me feel like Im doing something wrong and Im constantly being watched. (Cannon, 1999) B. Many states that have tried passing the drug testing law have failed because it is deemed unconstitutional. Due to the simple fact that the state representatives cannot assume all welfare applicants or recipients are drug users or addicts. Being able to pass these laws would take the conditions being changed to drug testing only taking place if state representatives suspect drug use in a welfare applicant or recipient. IV. A proposal on welfare reform A. Domenick Basolo the president of Good for Society, proposes a structure somewhat like the Three-Strikes Law Strike 1- Failing the given drug test when applying for welfare follows in providing written documentation for agreeing to signing up for a rehabilitation program. Strike 2- Must submit random drug screening, and provide proof once a week to attending rehabilitation programs. Strike 3- YOURE OUT! The failure to adhere to the following conditions and opportunities given will result in loss of funds to recipient, and possible household search to rule in or out of potential child negligence (Basolo, 2013). Conclusion A. There are many opinions on the welfare reform and whether or not to require applicants and recipients for submit a drug test and pass the drug test to relieve funds. However not all ideas or opinions would be acceptable in this country, because most ideas are deemed unconstitutional. Nevertheless, it is very evident a reform in welfare is much needed. Its just now about finding an acceptable way to reform it without creating controversy. Personally, as a hard working tax payer, I would like to know my tax dollars are going to the right things theyre intended for, not just to support a drug addict and at the same time neglect innocent childrens needs for daily life items.

Home â€Schooled or Not to Be? Essay -- essays papers

Home –Schooled or Not to Be? Most parents hear the word â€Å"home-school† and conjure up many assumptions that are either false or overlooked at. The technology provided, as well as the teaching quality spent on home-schooled children requires a lot of time and effort from the parents; it is an act of dedication and total commitment. According to the Robinson Curriculum, the parents have â€Å"little personal time or time alone. If care is not taken to set aside time for yourself, it is easy to never have time alone. They are basically with their [children] 24/7† (The Robinson Curriculum). There are many positives as well as the negatives outlooks pertaining to â€Å"sheltering† kids from attending private or public schools. Many adults are supportive of home-schooling because they feel a sense of corruptness in the school’s institution, and therefore want to instill their own morals into their kids. As for the parents who are against home-schooling, they state that the lack o f skills to socialize is a draw-back from letting their children grow as individuals, and feel tat it will conflict with how they mingle in society in their near future. What does home-schooling a child mean? Home-schooling means educating a child with the necessary equipments to knowledge the kid with factual school-related information. These information usually parallels that of which many other public and private schools also teach. The only big difference is that the child is being educated at home in the surroundings of his/her comfort and where a parent plays the role of a teacher. There is no right or wrong way to be home-schooled. Each â€Å"parent will discover his/her teaching style and their children’s learning style† (Perrault) through the proces... ...t/USAtodayTechnology.asp 5.Perrault, M. (2003, December). Advantages for homeschooling. Retrieved September 26, 2004, from http://www.angelfire.com/pa/sergeman.issues/education/find.html 6.Shimshock, K. (2003, February). The impact of Technology on a Home Schooled Education. Retrieved September 26, 2004 7.The Robinson Curriculum (2004). Home-schooling Problems/Needs. 31(56) Retrieved October 3, 2004 from http://www.robinsoncurriculm.com/view/rc/s31p.56.htm 8.The Learning Center (2003) Reading and Learning- The Benefits for Home- schooling. Retrieved October 3, 2004 from, http://www.homeschool.com/articles/computers 9.The Journal of Education (1999). Retrieved October 8, 2004. pp. 350-351 10. Williams, L. (1996-1998). Homeschooling and Computers. Retrieved September 26, 2004, from http://www.oakmeadow.com/resources.articles.HSComputers.htm

Definition of art Essay

A number of people have asked about the value of addressing aesthetics, the philosophy of art, or the definition of art. The reasoning is that if it is so difficult to define, it must therefor be ultimately subjective, and each person should just determine for herself what it is. Perhaps we all do determine for ourselves the meaning of anything. Because, as in the â€Å"tree falling in the forest† example, the meaning does not exist if it does not exist for me personally. I am allowed to define â€Å"table† or â€Å"chair† any way I wish for myself, but if I hope to communicate with others about tables and chairs, the meaning or definition must be shared. And that shared meaning derives from a combination of (a) acquired meanings from those whom we give credibility and (b) connotations developed from our experiences with tables and chairs. If there were really no way to define art, there would be no way to determine what is art, and art could be anything. Fortunately, art can be defined, although not succinctly in verbal form, as we might define â€Å"table† or â€Å"chair. † We learn the definition indirectly through understanding why works have been labeled art by critics and artists in the past, and directly by understanding the perspectives of those critics and artists. From the standpoint of complete subjectivity, if art can be anything, it is meaningless as a term == art is everything and nothing. There is nothing that is not art, so everything is art. The term â€Å"art† has no shared meaning and has no value in communication, and yet we use it all the time. By what criteria do you determine what is art for yourself? Because it pleases you? Because it pleases your friends, or someone you respect, or most people around you? What criteria constitute pleasing? What does it do to please? From another perspective, other than pragmatic needs, by what criteria do we select a season? Or what material we place in museums? By what criteria do we judge quality? How do we determine â€Å"good† from â€Å"not good? † Whatever criteria we use become our criteria for our aesthetic, which then become, in fact, our definition of our art. It is useful and valid for us to question what those criteria are, to challenge the validity of those criteria, and to constantly explore new criteria to define the art experience. In order to comprehend the options of criteria, the kinds of questions to ask of our criteria, the possible limits of our personal vision, it is worthwhile to explore the explorations of others. Understand that the definition of art and the determination of quality are linked and mutually affected. Alter one and the other is changed. One additional concern is the value in trying to understand how art works have meaning. Once we begin to explore this as artists, our work instantly changes dimension. It moves from the surface to the soul and allows us to refocus on the meaningful.

Italy Is The Poster Child For Anti Terrorism - 1285 Words

Italy: Criminal Justice Responses to Prevent and Counter Terrorism in All Forms Located in Southern Europe, Italy is a peninsula that extends into the Mediterranean Sea. Italy borders four countries, France to the west, Switzerland and Austria to the north, and Slovenia to the east. It is known for its many attractions, including the Leaning Tower of Pisa, the Vatican, and the Colosseum. Considering these attractions, and it’s location, Italy’s ability to avoid the threat that is the ISIS extremist group has other countries taking notes. The Italian Government has succeeded thus far when it comes to not only preventing and countering terrorism, but also avoiding it as well with solutions that have not been anything too extraordinary. Whether they have just lucked out, or their practices and procedures are responsible, Italy is the poster child for anti terrorism. One of their own universities, The International University School of Rome and Florence, even offers counterterrorism and hostage negotiation training to various governments around the world. By offering this training, not only does the Italian government help teach other countries how they counter terrorism, but they also take notes from the success of other countries when it comes to similar topics. With ISIS constantly looming, and its threats and attacks throughout the world, it is shocking that Italy has yet to have a death caused by Muslim terrorism. Throughout the past 5 years, the Civil War in Syria hasShow MoreRelatedItaly Is The Poster Child For Anti Terrorism956 Words   |  4 PagesLocated in Southern Europe, Italy is a peninsula that extends into the Mediterranean Sea. Italy borders four countries, France to the west, Switzerland and Austria to the north, and Slovenia to the east. Italy is known for its many attractions, including the Leaning Tower of Pisa, the Vatican, and the Colosseum. Considering these attractions, and it’s location, Italy’s ability to avoid the threat that is the Isis extremist group has other countries taking notes. The Italian government has succeededRead MoreThe Social Impact of Drug Abuse24406 Words   |  98 Pagesespecially cocaine/crack; 2) cocaine traffickers, now finding their supply substantially exceeding current market demand in the United States, are vigorously opening new markets in Canada, Great Britain, Western and Eastern Europe (with Spain and Italy as principal ports of entry for Europe); 3) the increasing supply of illicit drugs relative to current demand contributes to additional violence as international cartels and domestic gangs war over market turf, and 4) the policy instruments designedRead MoreThe Walt Disney Company and Disney Management25371 Words   |  102 Pagesrestaurants, and launching a Paris ad blitz that proclaimed â€Å"California is only 20 miles from Paris.† A Real Estate Dream Come True The Paris location was chosen over 200 other potential sites stretching from Portugal through Spain, France, Italy, and into Greece. Spain thought it had the strongest bid based on its yearlong, temperate, and sunny Mediterranean climate, but insufï ¬ cient acreage of land was available for development around Barcelona. In the end, the French government’s generousRead MoreBlood Bananas10217 Words   |  41 Pagesmultinationals, the rewards of doing business abroad are enormous, but so are the risks. Over the past decades, no place has been more hazardous than Colombia, a country that is just emerging from a deadly civil war and the effects of wide-ranging narco-terrorism. Chiquita found out the hard way. It made tens of millions in profit growing bananas in Colombia, only to emerge with its reputation splattered in blood.2 In 2004, Chiquita voluntarily admitted criminal responsibility to the U.S. Justice DepartmentRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesbeginning in the late 1980s, marked another major watershed that further problematizes uncritical acceptance of the historical coherence of the chronological twentieth century. And the reunification of Germany and the reemergence of international terrorism, which were powerfully symptomatic of the unprecedented reach and intensity of the processes of globalization on either side of the otherwise unremarkable last and first years of the old and new millennia, represented both a return to trends reminiscentRead MoreInternational Management67196 Words   |  269 Pages332 332 333 333 333 334 335 10 Managing Political Risk, Government Relations, and Alliances The World of International Management: IKEA’s Russian Roulette The Nature and Analysis of Political Risk Macro and Micro Analysis of Political Risk Terrorism and Its Overseas Expansion Analyzing the Expropriation Risk 336 336 338 339 343 344 Managing Political Risk and Government Relations Developing a Comprehensive Framework or Quantitative Analysis Techniques for Responding to Political Risk Read MoreMarketing Management130471 Words   |  522 Pagesnumber of customers and many geographic regions †¢ Building demand for products that require organizations to expand their labor force †¢ Offering techniques that have the ability to convey messages that change societal behavior in a positive way (e.g., anti-smoking advertising) 3.3 THE MARKETING CONCEPT The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition. Today most firms have adoptedRead MoreAn Evaluation of an on-Farm Food Safety Program for Ontario Greenhouse Vegetable Producers; a Global Blueprint for Fruit and Vegetable Producers51659 Words   |  207 Pagesfollowing 1999 and have continued to stay almost constant, although produce related-articles have steadily increased. This increase appears to be due to the increased interest in food safety issues by the public, a concentration on biosecurity following terrorism events of September 11, 2001 in the U.S. and the heightened awareness of different regulatory regimes in developing countries that provide imports to Canada and the U.S. Figure 2.3. Produce-related media coverage 1995-2003 [pic] The initialRead MoreFundamentals of Hrm263904 Words   |  1056 PagesBaxter has acquired several companies from other countries in recent years and is in the process of spreading family-friendly benefits such as alternative work arrangements, dependent care, counseling resources, adoption assistance, back-up/emergency child care, and lactation rooms to their non-United States subsidiaries. The commitment to balance seems to permeate the culture all the way to the top. Harry Jansen Kraemer, a former C.E.O., attempted to balance his career and family by not accepting work-relatedRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pageseffective managers (defined in terms of quantity and quality of their performance and the satisfaction and commitment of employees), communication made the largest relative contribution and networking the least. More recent studies in Australia, Israel, Italy, Japa n, and the United States confirm the link between networking and social relationships and success within an organization.10 And the connection between communication and effective managers is also clear. A study of 410 U.S. managers indicates those

Media s Portrayal Of Women - 1190 Words

In a society obsessed with appearance and numb to sexism, it comes as no surprise that women are expressing hate for their bodies more than ever before. Mass media’s portrayal of women is one of unattainable perfection— most models are stick thin with flawless complexions and pearl-white smiles. Consumers are bombarded with images of women being displayed as sex objects, valued for their physical appearance above all else. The evasiveness of media has led women to believe they must resemble the models pictured in advertisements, films, and television. When one falls short of physical perfection, she experiences feelings of inadequacy, which are often accompanied by both mental and physical health issues. Consequently, eighty percent of women in the United States are dissatisfied with their appearance and more than ten million women are suffering from eating disorders. Although other factors, such as criticism in relationships or being compared to others, may contribute to a person’s dissatisfaction with his or her appearance, the media is largely responsible for the rise of negative body image and low self-esteem, particularly in women. In order to implement change, both producers and consumers of media must realize that mass media can be used positively, as an instrument of change as opposed to destruction. By eliminating sexist and over-edited images of women from media, both sexes would begin to have more realistic expectations for their appearances and the appearances ofShow MoreRelatedMedia s Portrayal Of Women1588 Words   |  7 Pages Media represents males and females by gendering them in different categories. According to a presentation, the author states, â€Å"Media perceives women in a very sexual manner whereas men are symbolized as powerful (Khan). Over and over again, the one thing that the media reveals is that women are very sexual beings. They show that they are only good for taking care of the home and the man is very powerful. For example, the author on the presentation shows a ad that a man is in a life guard outfitRead MoreMedia s Portrayal Of Women2007 Words   |  9 PagesIn addition to the unbelievably high beauty standards women are expected to achieve as a result of the media’s portrayal of women, they are also expected to create and maintain a perfect household. Interior design is often perceived by contemporary society as a feminine interest. As a result, a majority of publications dedicated to home decoration are targeted towards women. Whether or not it is directly stated, a magazine’s attempt to target a particular sex can be identified through both the subjectRead MoreMedia s Portrayal Of Women1155 Words   |  5 PagesThe media is everywhere; phones, televisions, magazines, so it is hard not to be exposed to some type of media platform throughout the day. Among these forms of media are photos and videos of woman idealized as the perfect woman. Magazines release photos of women whose looks are highly unachievable and thought as as the ideal woman. An average woman exposed to these photos may feel depresssed and may want to look like the model through unsafe dieting and other eating disorders. The media has affectedRead MoreFalse Portrayal Of Women s Media1683 Words   |  7 PagesFalse Portrayal of Women in Media â€Å"We as women are trained to see ourselves as cheap imitations of fashion photographs, rather than seeing fashion photographs as cheap imitations of women†-Naomi Wolfe. In most advertisements as well as some movies and tv shows, women are shown in not very much clothing, while also being photoshopped and airbrushed. Young women and girls are constantly being sexualized in the media, in order to make more money, and sell more of whatever is being advertised. ManyRead MoreMedia Portrayal Of Women s Roles And Responsibilities Essay2255 Words   |  10 PagesFor decades, media images have bombarded the minds of viewers. One of the images which has had a strong influence on society is that of women. Movie stars and actresses have inclined women to see their beauty and talent and encouraged them to follow in their footsteps. A strong desire to emulate talented individuals, in action and dress, has shaped strong beauty and role diversification in a short period of time. With th e influx of women cast in ‘moving’ pictures and (later) television shows, theRead MoreMedia s Portrayal Of Skinny Women And Muscular Men2104 Words   |  9 PagesDesire for the unachievable goal of perfection is constantly stimulated by media’s portrayal of skinny women and muscular men. Many people who view all of these images are highly effected, and begin to think they are not normal. For example, Danny Bowman, who at nineteen years old tried to kill himself because he did not take a ‘perfect’ selfie after ten hours of repeatedly trying (Aldridge). He dropped out of school, stayed home, and was violent when asked to stop (Aldridge). Danny tried to overdoseRead MoreMass Media And Its Impact On Society Essay1453 Words   |  6 PagesMass Media Introduction The evolution of mass media has changed remarkably over decades. Media has been a tool utilized to broadcast information and give entertainment to a broad audience for relatively some time. In many ways, the use of television has helped construct the overall understanding of society. What we visualize on television ultimately replicates the â€Å"realities of life†. The messages/images demonstrated on the air depict underlying customs sought out by society that are most reputableRead MoreGendered Medi The Influence Of Media On Views Of Gender, By Julia T. Wood1405 Words   |  6 Pagesâ€Å"Gendered media: The influence of media on views of Gender,† Julia T. Wood (1994) stated that â€Å"women are underrepresented which falsely implies that men are the cultural standard and women are unimportant or invisible† (p.31). She goes on to say that this is the main reason why media distort reality; it creates a false image of the representation that is outside the media world. In Television women continue to be predominantly lacking and many people are wondering who is to blame. As the media worldRead MoreAdvertising Advertisements And Body Image1645 Words   |  7 Pagesindustry and SROs in ensuring that women and men continue to be portrayed positively and responsibly in advertising. History - WOMEN IN ADVERTISEMENTS AND BODY IMAGE Authors have also attempted to correlate various demographic variables such as age and education, as well as geographic variables with preferences for role portrayals in advertising. Through the ages men have been considered to be financial providers, career-focused, assertive and independent, whereas women have been shown as low-positionRead MoreA Brief History And Analysis Of Portrayal Of Women Essay1422 Words   |  6 Pagesand Analysis of the Portrayal of Women in Magazines Throughout history women have been depicted and treated as an inferior to the male all aspects of life. It is without debate, that to this day, like many other countries, the United States of America is a patriarchal society, valuing men over women and using various tactics to oppress women by constructing gender roles. These gender roles are thrust upon people before birth and are reinforced through society within the media. This object here is

Frida Kahlo An Open Book - 1712 Words

Born the middle child to her family in 1907 to a country in political unrest, Frida Kahlo is a controversial and famous Mexican artist whose life experiences, although traumatic, were the driving force behind her art which has inspired feminists and contemporary artists for decades. On the outside, Mexico appeared to be an economically and socially prospering country. Crime rates had been lowered, railroads abound, and new factories being built. Leading from 1876-1911, Porfirio Diaz urbanized and industrialized Mexico as an elitist dictator. Under the ruse of a â€Å"President†, Diaz held regular elections that were controlled in every aspect by him. 1910 marked the beginnings of a revolution, the country demanded democracy and was planning to overthrow Diaz. In 1911, Diaz was promptly thrown out of office and replaced with Francisco Madero, who refused to appease to the people and offer the reforms they were demanding. (Modern History†) The world of political instabilit y and revolutions is the one that Kahlo was born into. Even as a young child Kahlo’s life was filled with suffering as she was plagued by diseases. As a child the age of six, Kahlo was plagued with polio in her left leg, although she recovered this left her with one leg shorter and skinnier than the other - a fact in which Kahlo was determined to hide for the rest of her life. Kahlo wore long skirts, covered her right leg in pictures, and wore several pairs of socks at once to disguise her formative defect. SheShow MoreRelatedFrida Kalho: One of the Best Essay1197 Words   |  5 Pagesimpacted society. Frida Kahlo was one of those artists. Till this day, Kahlo is revered as one of the best. Magdalena Carmen Frieda Kahlo y Calderà ³n was born July 6th, 1907 in Coyoacà ¡n, Mexico, which was located on the outskirts of Mexico City. Frida was the 3rd daughter born out of 4 children. Her father was born in Pforzheim, Germany. He was the son of the painter and had a major influence on Frida’s artistic ability. Frida was close to her father for most of her life. Kahlo alleged that herRead MoreA Biography Of Frida Kahlo1414 Words   |  6 PagesHayden Herrera’s book Frida, A Biography of Frida Kahlo (1983) writes with engrossing detail the life story of the famous Mexican painter Frida Kahlo known for her folk art with vibrant colors and elements of surrealism. Herrera captivates her audience by telling the challenging journey and the various important obstacles Kahlo had to face throughout her entire life during the twentieth-century. Herrera explains how Kahlo’s various masterpieces have been shaped by her life circumstances and experiencesRead MoreCu riosity Project : Frida Kahlo1518 Words   |  7 PagesAngela Godoy Instructor Betsy Lohrer Hall Curiosity Project Art 300, Mon 1PM 11/30/2015 Frida Kahlo Tragedy, a crippling experience many people endure in life, yet some give up and the courageous few fight back. Frida Kahlo exemplifies the strength required to express oneself openly and boldly, sharing her painful life through paintings. Kahlo is one of the most famous female painters from Mexico and is known for her mutilating, heartbreaking and courageous self-portraits of her lifeRead MoreEssay on Frida Kahlo: A Life In Pain1175 Words   |  5 PagesFrida Kahlo: A Life in Pain â€Å"They thought I was a Surrealist, but I wasn’t. I never painted dreams. I painted my reality,† said Frida Kahlo describing her art work (Frida Kahlo n.d.). Kahlo was a Mexican artist from the mid-20th century. She was born on July 6, 1907 in Coyoacan, Mexico, and the daughter of German and Mexican descendants (Lucie-Smith 1999). During her lifetime Kahlo embarked on many hardships caused by illness, heartache, and love. She became known for her haunting self portraitsRead MoreThe Legacy Frida Kahlo Essay1037 Words   |  5 PagesRivera and his wife Frida Kahlo are an important aspect of the Hispanic World and well-known names in Latino art. Rivera and Kahlo knew many famous painters such as Duchamp, Siqueiros, Orozco and Picasso. Picasso became a great friend of the family. Kahlo has influenced many places in Mexico. There are many land marks not only in Mexico but around the world. The Frida Kahlo Museum is located in Coyoacan Mexico in her Casa Azul home (blue house), this is the same place Kahlo was born, grew up, livedRead MoreSelf Portrait With Monkey By Frida Kahlo1740 Words   |  7 PagesSelf-Portrait with Monkey: By Frida Kahlo Self-Portrait with Monkey made in the year of 1938 by Frida kahlo a Mexican artist who was influence by the traumatizing events that occurred during her early life. Which were physically and psychologically tragic. Frida Kahlo used her personal tragedies to create art. She painted herself because it was what she knew best. Kahlo’s Self-Portrait with Monkey, was made to show a living and soulful being holding her by having his arm around her neck as a formRead MoreFrida Kahlos Self Portraits1042 Words   |  5 PagesI choose one of Frida Kahlo’s self-portraits â€Å"The broken column†, without any doubt, one of my favorites. The Mexican artist Frida Kahlo was born in Mexico City on Saturday 6th July 1907 and died in the house in the background of this photograph, aged 47, just one week after her birthday, on Tuesday 13th July 1954. For a long time the details of Frida Kahlo’s life and work were generally not well known. They have recently become prominent mainly through the work of the Mexican art historian HaydenRead MoreThe Inspiration of Frida Kahlo Essay1343 Words   |  6 Pagesknowledge. Later another artist emerged with the same ability, Frida Kahlo. She used her life as her canvas; allowed people to view the world from behind the surrealistic doors. In addition, she was able to present self-portraits in many forms, all influenced by a tragic bus accident which led to a broken spine that affected her whole life. Described mostly in the film Frida directed by Julie Taymor, and the book Frida: A Biography of Frida Kahlo written by Hayden Herrera, Kahlo’s portraits made viewersRead Mo reUsing Art As A Platform For Emotional Release Of Traumatic Life Experiences2935 Words   |  12 Pagesplatform for emotional release of traumatic life experiences was not a very common concept among artist. While many artist used their canvases to express religious beliefs, social realism, desires, etc., Frida Kahlo’s work was an autobiography of her life. Kahlo’s paintings served as an open book into the traumatic and emotional life experiences that shaped her as an artist. Of these many experiences and events was her marriage to Mexican art muralist Diego Rivera. Kahlo’s paintings often depictedRead MoreMagdalena Carmen Frida Kahlo Essay2077 Words   |  9 PagesOne of the most influential female artists of the 20th Century was one who was burdened more than many others. Frida Kahlo was famous not only for her self portraits, but how she documented her trauma and pain through them. Magdalena Carmen Frida Kahlo was born July 6th 1907 in Coyocoan, Mexico, although she told many she was born in 1910, which was the year of the Mexican Revolution. Frida was destined in the womb to bear pain, for she was born with a congenital anomaly: Spina Bifida. Spina Bifida

AstraZeneca - Red Rose Railways & Capital Budgeting

Questions: Question 1Red Rose Railways is a UK publicly traded company that operates a range of bus and rail services. The company is currently considering bidding for an exclusive franchise to operate rail services from Manchester across the North of England. The board of directors has asked you to prepare a financial appraisal of this opportunity.The franchise will be for a period of five years. The rail infrastructure is owned by a Government agency. The franchisee will need to own and operate all rolling stock.The cost of the franchise will be paid to the Government in two instalments. 80% of the total amount bid is due at the start of the contract. The balance of 20% is due to be paid at the end of the second year.Red Rose Railways will need to order 175m of new rolling stock but will also need to use 75m worth of older rolling stock that is currently sitting idle. 75m is the best estimate of what this older rolling stock could be sold for if not used in the new North of England contract. It is estimated that all the rolling stock could be sold for 100m at the end of the franchise period.Accounts receivable and inventories will increase by 25m at the start of the franchise but only 20m of this is expected to be recovered at the end of the franchise period.Based on expected levels of services, passenger numbers and regulated fare increases over the period, the best estimates of operating cash flows over the five year operating period are: Assume that the company is exempt from corporation tax during the period of the franchise.Answer the following questions: Red Rose Railways expects a minimum 8% return on all rail franchise bids. What is the maximum price you can bid? Red Rose Railways likes to achieve a three year payback on rail franchise operations. What is the maximum price you can bid and still achieve a three year payback? The board of directors asks you explain whether it is better to base their bid price on the NPV method or Payback method. Explain the advantages and disadvantages of the two methods. Which would you recommend and why?Question 2 A. Using AstraZeneca plcs 2013 annual report and financial statements, explain how an adjusted book value approach to valuing assets and liabilities moves book value nearer to economic value.You are required to provide a written response which highlights four specific elements in AstraZeneca plc's balance sheet that might require adjusting to arrive at an economic valu e.For each element, explain the type of adjustment and the type of information that might be required before an adjustment could be made to arrive at an economic value for AstraZeneca plc at its 2013 financial year-end.B. Calculate the following market multiple ratios for AstraZeneca plc at its 2013 financial year-end: EV/EBITDA Price-to-earnings ratio (PE ratio) Price-to-cash-flow ratio Contrast and explain the results of the different market multiple ratios that you calculated. Evaluate the usefulness of market multiple ratios in company valuation.Question 3Read the following article:Danielson, M., and Scott J. (2006) The capital budgeting decisions of small business Journal of Applied Finance, Fall/Winter, pp. 4556.After reading it closely answer the following questions:a. What is the main aim of the articles argument? How does the article seek to achieve this aim?b. Review Section C Project Evaluation Methods (pp. 5154), that is, summarise the section and critically appraise it. c. The authors put forward various reasons as to why small firms might evaluate projects differently. What are they? Do you find them convincing? Why or why not? Answers: 1. The complete details related to the auction of the Red Rose Railways have been provided. Based on the given information the annual cash flow for the company has been prepared. The general assumptions that have been made are as follows All the cash flows are assumed to happen at the end of the year. Only the bid amount that is payable at the start of the contract has been considered at the beginning. It is assumed that the company will sell the old rolling worth 75m at the start of the contract The resale value of the new rolling stock is 100m which is realized at the end of the franchise period.Based on these assumptions the cash flow model for the different cases has been prepared. 1) Red Rose Railways expects a minimum 8% return on all rail franchise bids. In relation to the estimation of the maximum bid price it has been considered that the bid price may be kept in such a way that Net Present Value from the project is zero. The complete cash flow model that has been prepared is shown below: Year 0 1 2 3 4 5 80% of Bid Amount 518.4 80% of Bid Amount 129.6 Operating Profit 150 160 170 180 190 Resale Value of old rolling 75 Cost of New Rolling 175 Resale Value of new rolling 100 Working Capital 25 Working Capital Payback 20 Net Cash Flow -643.4 150 30.4 170 180 310 PV Factor 1.00 0.93 0.86 0.79 0.74 0.68 PV -643.40 138.89 26.06 134.95 132.31 210.98 NPV -0.21 Cumulative NPV -643.40 -504.51 -478.45 -343.50 -211.19 -0.21 The above model has been prepared with bid amount of 648m. 2) In order to achieve the payback in three years the bid amount will have to be increased. The cumulative NPV as shown in the above case will change and will have NPV of approximately equal to zero at the end of third year. The cash flow model for this case has been shown below Year 0 1 2 3 4 5 80% of Bid Amount 236 80% of Bid Amount 59 Operating Profit 150 160 170 180 190 Resale Value of old rolling 75 Cost of New Rolling 175 Resale Value of new rolling 100 Working Capital 25 Working Capital Payback 20 Net Cash Flow -361 150 101 170 180 310 PV Factor 1.00 0.93 0.86 0.79 0.74 0.68 PV -361.00 138.89 86.59 134.95 132.31 210.98 NPV 342.72 Cumulative NPV -361.00 -222.11 -135.52 -0.57 131.74 342.72 The above model shows that the bid amount has to be 295m for payback of three years. Net Present Value and Payback Period are the two most commonly used capital budgeting techniques that are employed in the business. There are several benefits and limitations of both the methods. These have been discussed belowNet Present Value: The net present value method of capital budgeting is the most popular capital budgeting method. The advantages of this method includes that it can be associated with the value that is added to the firm in terms of the cash. This is the direct method of valuation. Further this method employs the time value of money. Thus it ensures that the value that is added to the firm is backed by the actual value rather than absolute terms. Another important advantage of the NPV method is that it also provides provisions for the reinvestment or the cash outflows that might be there during the complete lifetime of the project rather cash outflow being at the start. This is to say that in the present case as well the 20% of the bid value is paid at the end of second year. NPV can easily incorporate such fluctuations in the cash flow.On the other hand there can be certain disadvantages of NPV. The discount rate that is considered will have huge impact on the present value of the cash flow. In case of projects with long life the discount rate will considerably reduce the cash flow. Thus it is important that suitable value of discount rate is considered.Payback Period: The payback period gives the estimation of time within which the amount equivalent to investment will be generated by the project. This type of estimation is simpler in comparison to NPV. Further it can provide, on the high level, an estimation of the liquidity that will be there. This is to say that the project with high payback period will have low liquidity. The disadvantage of payback period is that it might be difficult to incorporate the cash outflow that may happen during the lifetime of the project. Further it does not give estimation of the value that is added. Th e projects will same payback period cannot be distinguished based on this technique. Further time value of money may be incorporated in payback period but this will lead to similar disadvantages as that of NPV without little value addition. Overall the above discussion highlights that the NPV method is more suitable capital budgeting technique. However considering the importance of liquidity and the number of projects in which the investment can be made, the payback period is suitable for projects with small life. 2. A. Adjusted book value approach employs market value approach for valuation of assets. This method of valuation is primarily appropriate for not for profit organizations, businesses with little value goodwill or other intangible assets or the businesses that may be purchased by the competitors in the same business. Book value of the assets reflects the historical cost of the assets of the company in excess of the liabilities of the company. One of the important aspects of the adjusted book value approach is that in its computation intangible items including goodwill, patent and copyrights are excluded whereas the items including equipment, inventories and the real estate are adjusted for the fair value. However the adjustment to the intangible assets that have been mentioned above is also made under certain conditions. According to Green Carroll ( ), adjustments are made to the book value of the various elements to reflect the economic value of these elements. The adjustment that will be made can result in both increase and decrease in the value of the assets.The elements may be considered as undervalued in case, as a result of depreciation or amortization, results in lower book value in comparison to the economic use of the asset. The inverse of this will result in over valuation of assets. Such aspects are highlighted and incorporated in the adjusted book value. Thus it reflects closely the economic value of the asset or any other element of the balance sheet. The adjusted book value of the some of the elements such as internally generated assets is used for valuation. The value of these assets is not reflected in the book value at all. The above discussion on the adjusted book value clearly reflects the impact that can be there on the various elements of the balance sheet of AstraZeneca. On the basis of this, four specific elements in AstraZeneca plc's balance sheet that can be considered for adjusting to arrive at an economic value are Property Plant E quipment: The annual report of AstraZeneca shows that land and building valued at $5,683 million and plant equipment valued at $8,453 million. Further the company has disposed off significant amount of these assets. The net book value has been mentioned based on the depreciation that has been accounted for these assets. The adjustment would certainly be required as there are considerable changes in the value of plant equipment and land building. It has also been mentioned that manufacturing operations in China have been affected by the strategy changes whereas the restructuring has impacted the US business. The market factors will further influence the value of these assets and their contribution to the performance of the company. It is important to note that the impairment has been considered for these assets. This can be considered as the adjustment in the asset value. Inventories: The analysis of the inventories held by the company shows that raw material consumables, work in progress and the finished goods inventories have almost equal share in the inventories. Considering the products of the company includes the medicine in therapeutic area. These have limited life. As a result the company had to write off inventories amounting to $91 million. Intangible Assets: These are one of the most important aspects as that need to be considered as there is significant impairment that has taken place. Further there are several self generated patents of the company. The company has booked impairment reversal of $285 million. Such risks, impact and changes that can be there have to be attributed. Apart from this the company acquire or discover the products as a result of merger and acquisition which is quite company in this industry. Lastly the write down in value of intangible assets is also quite important and has huge impact on the value of the assets.Interest Bearing Loans: the changes in the interest rate have an impact on the interest bearing loans of the co mpany. The company gained $5 million on the fair value of bonds designated at fair value through profit or loss, due to increased credit risk. Similarly $39 million was gained on these bonds since their inception. The interest rates for discounting of future cash flows for fair value adjustments have been provided. Thus the adjustments have to be made in this context as well. There are three ways in which the adjustments to the book value can be made. These are Fair Market Value of the elementRealizable value of the elementReplacement value of the assetsThe discussion on the various elements of the balance sheet shows that all these aspects can impact the value of these assets in a different way and adjustment in the book value lends more clarity and the actual value that these add to the business and thus takes the value mentioned in the annual report closer to the economic value. The above discussion clearly shows that the adjusted book value may closely reflect the economic value as the value of the self produced elements is reflected and at the same time the values are increased, decreased or appropriated to approximate their value according to the market and thus the . However there are certain limitations that have to be considered. This is to say that the value of the business that is estimated based on the adjusted book value may be incorrect and effect of contingent liability may be there and affect the value. Further the impact of minority interest will also have to be considered. These aspects will certainly have an impact with respect to AstraZeneca.Concluding the discussion it reflects closely the economic value of the asset or any other element of the balance sheet. The adjusted book value of the some of the elements such as internally generated assets is used for valuation which has been the case with AstraZeneca. The aspects that have been highlighted are quite relevant to AstraZeneca. AstraZeneca operates in the industry where the adjustment c an reflect huge changes and thus can be of huge importance for the company. The company has already considered it in the annual report and the financial statements that have been prepared. B. The ratios have been calculated for AstraZeneca plc at its 2013 financial year. These have been shown belowPrice-to-earnings ratio (PE ratio): 1.44Price-to-cash-flow ratio: 1.75The price to earnings ratio shows that the price of the shares has been higher in comparison to the earnings and the cash flow per share. This shows that the investors are quite interested in the company and have expectation that the earnings would increase in future. This is quite positive aspect for the company. The analysis backed by market ratios are quite important and can be quite significant in the decision making. The market ratios are important as it not only employ market based data but also involves suitable values from the annual report that comprehend the market based values that are identified. This is to s ay that firstly market ratios highlight the expectation in the market in relation to the performance of the company and thus highlights that there are certain factors that might favour the company in future. Secondly it provides an insight into the suitable decision that can be taken. For example in case it is viewed that market ratio highlights overvaluation of the shares of the company in comparison to the book value, the investor may plan to draw the investment from the company. On the other hand if the share is highly undervalued more investment is made in the company. Thus the market ratios do provide additional supporting information on the investment that need to be made. Further it also highlights how relevant are the figures that are mentioned in the annual report of the company. The adjusted book value ensures that the market ratios are closer to unity. Overall it is important to consider market ratios in addition to the analysis that is made by the company. It is an impor tant tool that can influence the decision on investment that is made. 3. The following key points have been discussed based on the article The capital budgeting decisions of small business by Danielson and Scott Main aim of the articles argument The article The capital budgeting decisions of small business by Danielson and Scott primarily analyzes the capital budgeting practices by small firms. This study is backed by the survey data compiled by the National Federation of Independent Business. It has been mentioned in the introduction of the article that despite the importance of capital investment to small firms, most capital budgeting surveys have focused on the investment decisions of large firms. In order to identify the capital budgeting practices by small firms the research has been conducted wherein the different reasons based on which particular capital budgeting technique is employed by the firms as capital budgeting decisions of large firms are not likely to describe the procedures used by small firms. No separate study has been conducted in the research. Overall the target is to ensure that the capital budgeting techniques that are employed by the small firms are reliable and ways are identified to improve the evaluation of projects by small firms. This will ensure that the risk in the small businesses is reduced and the significant capability of these firms is there in the economic development. Since the article has broader prospects the data by the National Federation of Independent Business has been used in the research. Overall the focus is on the small firms by comparing the techniques being employed by large firms. Project Evaluation Methods: Review The Project Evaluation Methods section of the article highlights that broadly three methods are employed i.e. Accounting rate of Return, Net Present Value and the Payback Period. Apart from this the firms also rely on gut feel to take decisions with respect to investment in the project. Further this section of the article has discussed each and every point with respect to the study that has been conducted. The key points that have highlighted have been mentioned below Owners without a college degree resort to it most frequently, and owners with advanced degrees least. Firms with written business plans and firms that make cash flow projections are significantly less likely to rely on gut feel. Small business owners use relatively unsophisticated methods of analysis to evaluate replacement options as these options are limited Owners with advanced/professional degrees are most likely to use discounted cash flow method Firms extending existing product lines are also significantly more likely to use discounted cash flow analysis. The above discussion is quite important significant with respect to the study that is being conducted. However it is important to note that certain points are in harmony with the summary to this article. For example it has been mentioned above that firms extending existing product lines are also significantly more likely to use discounted cash flow analysis. This has been supported by the discussion in the summary wherein it has been mentioned that the new project launched by small firms may not have any historical or similar product with which cash flow can be related. This reduces the credibility and the utility of the other capital budgeting techniques as the cash flow can have huge impact on the project evaluation. Thus overall the study has been quite helpful in analyzing the key points and also identifying the aspects that impact the performance of the company. Based on this study the reasons and possible solutions to improve the reliability of the capital budgeting techniques for the small firms have been identified. Overall the section has been quite helpful in identifying the capital budgeting practices by small firms the research has been conducted wherein the different reasons based on which particular capital budgeting technique is employed by the firms as capital budgeting decisions of large firms are not likely to describe the procedures used by small firms. It may be considered as the base for the study for the small firms that have a huge role to play in the economic development and thus suitable solutions may be provided. It may be helpful in reducing the reliance of the small firms on gut feel and employ more scientific approach in the decision making. Project Valuation by Small Firms The authors have put forward various reasons as to why small firms might evaluate projects differently. These are as below Limited formal education in the field Incomplete Management Teams Small staff size Imperfect Capital Markets Lack of Credibility of the owners Non Discretionary Investments Difficulty in quantifying future cash flows The reasons that have been mentioned above do support the relying of the capital budgeting or to a certain extent on payback period. Further it can be seen that various points that have been mentioned above do cover broader prospects that is conceptually and in general. For example limited education in the field is an important factor. Using the capital budgeting techniques require understanding of the various methods, how these can be employed, limitations and benefits and selection of the suitable technique for valuation. It has been discussed that gut feel and payback period are the most favoured method. This is because there are credit constraints due to lack of credibility and thus the small businesses rely primarily on internally generated funds. In such cases liquidity and the payback is the major concern. Further not much information is available for the small business. Thus there is difficulty in quantifying future cash flows. When future cash flows cannot be easily estimated, discounted cash flow analysis may not provide a reliable estimate of a project's contribution to firm value. As stated in the article, the new project launched by small firms may not have any historical or similar product with which cash flow can be related. This reduces the credibility and the utility of the other capital budgeting techniques as the cash flow can have huge impact on the project evaluation. The small businesses are also affected by the lack of management teams and the small size. If more staff is employed for ensuring complex techniques are employed, which might not be of much help, will impact the profitability of the small business. Since the profitability is the primary goal, it can be said that the target and viewpoint of small businesses are different from large businesses. Thus it is prudent to employ simple techniques without employing excess staff and involving complexity. All these reasons that have been well supported by the discussion in the article do highlight why the small businesses rely on payback period method for project appraisal. Overall the constraints that have been mentioned may be reduced to a certain extent but it would be quite challenging to ensure that the other capital budgeting techniques such as NPV, which are employed by big firms, are also employed by small firms. Thus it can be said that the argument that has been given in the article related to employing payback period by small firms is in the right direction and development of markets or any other factor alone may not be appropriate to enable the shift. Overall the methods suitable for small firms are quite different from the methods employed by the large firms. References Fernandez, P. (2002). Valuation Methods and Shareholder Value Creation. Academic Press. San Diego Brealey, R.A. Myers S.C. (2000). Principles of Corporate Finance. 6th edition. Mcgraw Hill. New York Green, R.P. Carroll. J.J. (2000). Investigating Entrepreneurial Opportunities:A Practical Guide for Due Diligence. Sage Publications. Charles K. Vandyck, (2006), Financial Ratio Analysis: A Handy Guidebook, Trafford Publishing White G.I., Sondhi A.C. Fried D., (2002), The Analysis and Use of Financial Statements, Wiley; 3 edition Bhattacharya H., (2004), Working Capital Management: Strategies and Techniques Brigham E.F., Ehrhard M.C., (2010), Financial Management: Theory Practice Thompson D.A., (2004), Sources of Business Financing, Available At: https://www.boyneclarke.com/resources/entry/sources-of-business-financing Helfert E.A., (1996), Techniques of Financial Analysis: A Practical Guide to Measuring Business Performance