Laura Essay Example | Topics and Well Written Essays - 2000 words

Laura - Essay Example Quick moving things are being recorded in the store managers’ hand-held PC so as to hand-off the message to the administrative center and its focal structure group. With regards to creation, Laura decided to print generally 40% of its own texture and produces 80% of its completed items. This creation technique permits Laura to be progressively adaptable in reacting to the abrupt changes in design pattern. Having an effective coordinations and Laura’s responsibility to create novel and chic dress favored by its objective buyers all through UK and Europe inside a limited capacity to focus 15 days makes the organization ready to stay aware of the quick changing design patterns. By persistently extending its market dissemination by means of expanding the quantity of its store outlets, phone/mail request activity, and contributing on online list and requesting framework including its act of changing the store dress plans like clockwork makes the yearly deals increment over the The quality of Laura’s creation framework incorporates its capacity to decide the pattern of in-design garments and its quick reaction to the customers’ needs and needs by putting on a minimal effort in-house article of clothing creation that is mindful in printing its own textures, cutting, and sewing of pieces of clothing in the nick of time for conveyance. The advantage of such creation technique is that it permits Laura to quickly react to the customers’ continually changing favored design style inside a limited ability to focus 15 days. The issue with this sort of creation technique is the way that its rivals are setting aside more cash from re-appropriating the creation of articles of clothing in underdeveloped nations by mass. In accordance with a much lower cost of creation, Laura’s contenders can sell their product offering at a much lower cost. Hence, Laura can't enter the lower end of the business sectors that are

Corruption in Law Enforcement Research Paper Example | Topics and Well Written Essays - 1000 words

Debasement in Law Enforcement - Research Paper Example Or maybe, a synchronized arrangement structure is required most. The current paper is planned for concentrating on the different parts of debasement in the circle of law authorization and policing. The paper has three sections: Introduction, Discussion, and Conclusion. Conversation Corruption in law authorization is an intense issue since it is a sort of malevolence that can render the entire open organization arrangement of a nation ancient. At the point when law implementation authorities started to enjoy taking kickbacks as whores, cash, extravagance things, and so forth and help the lawbreakers to get away from the range of law, a procedure of unavoidable social and managerial decay sets in. Neighborhood infamous components like the dealers, mafia, sex criminals, and so on may turn out to be amazing to such an extent that they start to challenge the standard of law, defy the authority of the state, and start their own arrangement of sorted out wrongdoing. â€Å"Police offices ar e continually endeavoring to improve enlistment, application, and preparing systems and to distinguish those people most appropriate to satisfy the jobs of the cop. It is thusly basic to comprehend the subtleties of officers’ impression of defilement to scatter the most complete data as possible.† (Jenks et al, 2012, p. ... Law requirement is a zone that is normally taken care of by the administration. Government procures the vital assets to fund the law requirement divisions from open part and different wellsprings of incomes. Now and then, this cash falls shorter than the desires for the representatives in the law requirement division. The issue may emerge because of poor monetary conditions, money related fumble, or carelessness at the service level. The combined impact of these variables is that the open assignment process that is planned for financing the different divisions gets impeded and different government bodies, including the law implementing specialists may encounter finance crunch. Thusly, the wages of the law requirement authorities are not balanced according to the expanded expenses of living and looking after status. This prompts degenerate exercises including pay off and undercover work. (Benson, 1988) One type of defilement is maltreatment of power. â€Å"Abuse of power was characte rized as having three sorts; physical maltreatment (for example over the top power and fierceness), mental maltreatment (for example badgering), and legitimate maltreatment (for example damaging citizens’ rights). Defilement may likewise be theoretically partitioned by whether it serves egotistical or charitable interests.† (Jenks et al, 2012, p. 7) Hence, when law authorization authorities begin acting affected by some political motivation or rebel demeanor, the circumstance turns out to be significantly progressively confused on the grounds that then the prompt explanation for the degenerate exercises isn't basic and basic voracity. In such a situation, an emergency circumstance gets unavoidable and as indicated by the specialists like Barker (2011, p. 1), â€Å"police ethics† can limit the officials in such circumstances. Police morals advocate an orderly commitment to

Seventh Grade Essay by Gary Soto free essay sample

In French class Victor exclaims that he knows French, and afterward mumbles out an off base French sentence. Realizing that he humiliated himself, Victor gets terrified. Victor’s French educator, Mr. Bueller, doesn't utter a word, abstaining from saying that Victors French is off base. Victor has full duty in making his concern. On the off chance that Victor didn't attempt to dazzle Teresa by presenting his endeavored French then there would not be an issue. The main effect on the issue was Mr. Bueller who tackled the issue. Towards the finish of the story Victor has unquestionably gained from his experience. Victor has discovered that you ought to act naturally, despite the fact that Victor realizes he should carry on his concern by leasing French reading material so as to intrigue Teresa. I know this from the accompanying sentence, â€Å"†¦ and after science a long run to the open library, where he looked at three French reading material. He was going to like seventh grade†¦Ã¢â‚¬  and, â€Å" Victor couldn’t remain to take a gander at Teresa. We will compose a custom paper test on Seventh Grade Essay by Gary Soto or on the other hand any comparative theme explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page He was sweat-soaked with shame†. The story closes joyfully. Victor has acknowledged that he should buckle down in seventh grade to demonstrate to Teresa that he is very conversant in French. This is demonstrated in the accompanying sentence, â€Å"†¦ and after science a long run to the open library, where he looked at three French course books. He was going to like seventh grade†¦Ã¢â‚¬ . The story is finished in an energizing manner with an amusing mocking comment. The short story Seventh Grade utilizes a humiliating circumstance brought about by the characters activities to dazzle a young lady. Victor, the fundamental character, comprehends that he has full duty in making his own concern. A positive mocking remark by Victor makes a cheerful end to the short story.

Biomedical Sciences Coursework About Acid-Base Balance - 1100 Words

Biomedical Sciences Coursework About Acid-Base Balance (Coursework Sample) Content: Essay TopicAuthors name Name of InstitutionACID-BASE BALANCE1. Role of excessive alcohol consumption in acid-base disturbanceAcid base imbalance causes the blood plasma to fall out of homeostatic range of 7.35 to 7.45 (Hogan, 2007). Excess of acids and bases is acidosis and alkalosis respectively. Long term alcohol abuse can lead to enlargement of the kidneys which affects hormones responsible for kidney function. This would affect the bodys ability to filter blood causing an alteration of electrolytes and water with a rise in toxic wastes. Eventually the kidneys would fail and since the kidneys play role in regulation of electrolytes, their failure causes an imbalance. The body can only process one unit of alcohol in an hour, consumption of more than one unit would lead to alcohol poisoning, and this depresses the nervous system. Breathing is consequently slowed leading to a rise in the level of carbon dioxide and thus a decrease in pH. This action is referred to as respiratory acidosis. 2. Increase in sodium level following excessive alcohol consumptionIn an effort to get rid of the excess liquor, the gag reflex is initiated. Gastric acid is expelled in the process, leading to a loss of hydrogen and chloride ions. This process can eventually lead to metabolic alkalosis. Vomiting also makes it difficult to keep food down as well as fluids further preventing the replenishment of the electrolytes.High level of sodium is referred to as hypernatremia. It is caused by dehydration of which alcohol is a major contributor. In this condition, the sodium content is at a normal level but since water has been depleted the sodium content is high at that level. Alcohol reduces the production of anti-diuretic hormone. This hormone is primarily used in reabsorption of water. It does this by increasing the permeability of the collecting ducts and distal convoluted tubule (Laycock, 2010). Vasopressin also causes an acute increase in sodium salts uptake in the a scending loop of Henle which helps in ensuring proper reabsorption of water. With lower levels of vasopressin, less water is reabsorbed by the renal system. The acute increase in sodium which aids in reabsorption are also cut short. The result is excretion of dilute urine. Continuous elimination of water causes dehydration, blood plasma becomes concentrated and sodium content becomes higher as a result. Dehydration also occurs via the gag reflex through expulsion of stomach contents. The body is unable to absorb adequate water due to the halted of production of vasopressin and so intake of water is not sufficient in replenishing the water content.3. The cause of ion gap in excessive alcohol consumption. The condition that leads to a wide anion gap is referred to as alcoholic ketoacidosis. It occurs when there is accumulation of acetoacetic acid and hydroxybutyric acid precipitated when a person ceases taking alcohol abruptly or when s/he reduces consumption. It has also been associa ted with little intake of food prior to drinking, binge drinking and persistent vomiting. It occurs because of depletion of fluids, glycogen and dinucleotide. Alcohol is metabolized using a cytosolic enzyme named Alcohol dehydrogenase to acetaldehyde which is further metabolized to aldehyde dehydrogenase. Both processes require the consumption of nicotinamide adenine dinucleotide. They also impair conversion of lactate to pyruvate causing an increase in lactic levels. The reduced renal function as a result of alcohol is also a contributor. This is due to the accumulation of acids.Cessation of alcohol intake is normally coupled with physically discomfort especially in the abdominal area. Ingestion of food is thereby hindered causing an elevated ketoacid production and starvation. The lack of food means there is a decrease in insulin activity. The body reacts by burning more lipids and fats for energy. The liver undergoes gluconeogenesis resulting in accumulation of Acetyl CoA which is converted to ketoacids (Nilsson Piccini, 2006).4. Respiratory and renal system compensatory response for acid base disturbanceCompensatory responses occur through the kidneys, lungs and body buffers. Rise of hydrogen ions is buffered by intracellular and extracellular buffers. Intracellular buffers being phosphates and haemoglobin while extracellular include carbonate and protein buffers. The kidney maintains homeostasis by regulating excretion of hydrogen. This ensures that plasma bicarbonate is within a tolerable limit. The kidneys also reabsorb bicarbonates and remove the acid produce by the body. The renal system maintains electro neutrality by ensuring equal absorption of anions and cations or through concurrent excretion of both of them. The kidneys respond to acidity by a reabsorbing more bicarbonate and collecting ducts secrete more hydrogen. Response to alkalosis by the kidney involves reduction in glutamine metabolism and excretion of more bicarbonate by decreasing H+ secretion in epithelial cells (Rogers, 2012).When the body pH falls, the body responds by increasing the rate of breathing. The excess carbon dioxide is removed from the system followed by a rise in pH as the number of free hydrogen ions drops. When pH rises, the body responds by lowering the rate of breathing. The level of carbon dioxide rises. After the carbon dioxide dissociates in blood plasma, the number of H+ ions increase causing a drop in pH.5. Rationale for the low glucose level and high urine ketones associated with excessive alcohol consumption.Alcohol causes an increase in secretion of insulin which promotes absorption of glucose. The liver is primarily responsible for detoxification, removal of alcohol from the system is a priority as the body registers it as a toxin. It would therefore be impaired in its function of rectifying low blood sugar by converting glycogen or fat to glucose. Many a time excessive consumption is accompanied by starvation or little to no intake of food. As a result, t...

Love Between a Parent and Child in After Making Love We...

Love Between a Parent and Child in After Making Love We Hear Footsteps There are several different definitions for the word love. Love is a simple four-letter word, with a multitude of caring and feeling behind it. There is a difference between loving somebody and being in love with somebody. The love between two best friends or between a husband and wife are the types of love that people want to last forever. However, there are no guarantees that it will last forever. Furthermore, the love between family members and the love between a parent and child is the kind of love that will last a life time. In Galway Kinnell’s poem â€Å"After Making Love We Hear Footsteps† Kinnell writes about the love between a parent and child.†¦show more content†¦The feeling of security that the parents give by being there helps the young boy sleep at night. For example, Galway Kinnell writes: and says, â€Å"Are you loving and snuggling? May I join?† he flops down between us and hugs us and snuggles himself to sleep, his face gleaming with satisfaction at being this very child. The parents understanding of knowing that the child needs security is just one the many responsibilities they have for being a parent. Furthermore, the parents feel that even though the situation there in is very frustrating, they would not give it up for anything. The love for their child will never go away. Kinnell expresses this feeling of love on the last couple of lines of the poem: This one whom habit of memory propels to the ground of his making, sleeper only the mortal sounds can sing awake, this blessing love gives again into our arms. The love between a parent and child is unconditional. It comes straight from the heart. The bond between a parent and child is something that only a parent can really understand. It starts before the child is born and will last a life time. Parents want to protect their child from any kind of harm. From the day the child is born, the mother and father will be the one that the child will depend on. The parents will be the one the child relies on whenever the child gets hurt, needs help, needs a shoulder to cry on,Show MoreRelatedAfter Making Love We Hear Footsteps Analysis964 Words   |  4 PagesLove is that condition in which the happiness of another person is essential to your own, said Robert Heinlein (YourTango). Affirmative, love can be really powerful in which the value of love from others is the greatest ecstasy in life. Love is existence everywhere around us; we are born to love and love to die with the love of family, lovers, and friends. In Galway Kinnell’s p oem â€Å"After Making Love We Hear Footsteps† Kinnell writes about the love between parents and child, and it was publishedRead MorePoetic Device Paper1374 Words   |  6 PagesKarah Joye Corbin Lockmiller 1302 English 18 July, 2013 Poetic Device Paper In the poem â€Å"After Making Love We Hear Footsteps†, Galway Kinnell creates the speaker in a way to really portray what he believes true love to be once â€Å"long-married†. The author gives great sensory details, engulfing you into the night that he produced from these fickle meters. The speaker in the poem puts family high on this list of priorities as the author shows a significant amount of importance to them fromRead MoreThe Accomplishments Of Whitney Houston1464 Words   |  6 PagesWhitney Houston: From Success to Struggles â€Å"As I lay me down, heaven hear me now. I’m lost without a cause, after giving it my all. Winter storms have come, and darkened my sun. After all that I’ve been through, who on earth can I turn to? I look to you.† This is a quote from the song â€Å"I Look to You† by Whitney Houston. This song came out right after Houston got out of rehab, making it seem like it was her recovery song and the way she told the world she was back in the entertainment world (OprahRead MoreFamily Dynamics in Homers Iliad969 Words   |  4 Pagesrelationships between parents and their sons in the Iliad are not relationships we expect to see in today’s society. The Iliad portrays the relationships between fathers and sons as something more than just physical and emotional. It is based on pride and respect for one another. The expectations of their son are more so to pass on their fathers reputable name and to follow in their father’s footsteps of being noble warriors. These relationships are the driving forces in the Iliad, making each son inRead MoreCan Social Workers be Liable for the Safety of Children?1952 Words   |  8 Pagesthere may be some negative issues on Social Working and may have an effect on children and adults. Social Workers can be liable for the safety of children by not making sure children have a safe place to stay, not making sure that the parents are living in a good environment and not making sure that if the parents have other children to making sure that the other kids are not a bad influence. Social Workers are different people who help certain children to find better homes for them. In addition, theyRead MoreThe Room Kit - Original Writing1238 Words   |  5 Pagesmargins. â€Å"It’s the Shadowhunter Codex. I’m making some notes in it for Kit.† â€Å"I’m pretty sure the codex will cover all the basic knowledge,† said Livvy. â€Å"What else is there to add?† â€Å"I’m just explaining more,† Ty said. â€Å"I’d imagine he’s pretty confused and upset. I mean think about what it must be like, losing your father and finding out you’re a Shadowhunter in the same day.† â€Å"I’ll help,† Livvy said decidedly, â€Å"but we should go to the library so we don’t disturb Kit.† She stood up and held outRead MoreProblem Solution Essay On Abortion1736 Words   |  7 Pagesreasons there organization is so successful. Quoted from plannedparenthoodaction.org it says, â€Å"At least 60% of Planned Parenthood patients rely on public health programs like Medicaid and Title X for their preventive and primary care. So, when you hear extreme politicians talking about â€Å"defunding† planned parenthood they really mean blocking patients who rely on public health care programs from getting their care at Planned Parenthood centers†( Berg). Basically stating that because they focus onRead MoreAlexander Graham Bell: A Short Biography Essay1636 Words   |  7 PagesAlexander Graham Bell: A Short Biography Upon hearing the name Alexander Graham Bell, we remember the inventor of the telephone. However, Alexander was much more than just the inventor of the telephone. As a matter of fact he was an audiologist. His family was the leading authorities in elocution and speech correction. He had improved and carried on his families business, along with his brothers. Alexander had created the phone at an early age among inventors- only 29. Later in his career BellRead MoreEssay on Siddhartha Reading Questions2642 Words   |  11 Pageshis eyes and sweet voice as well as his grace movements and thoughts. Govinda truly admires his friend, hoping to follow in Siddhartha’s footsteps. 3. What does he fear if he stays at home and continues in his father’s religion? He hears that he will not find happiness within himself nor find spiritual peace. He believes that not even the love of his parents and best-friend Govinda is enough to suffice him. 4. Why does he fear that he will not find it in prescribed religious teachings? He fearsRead MoreThe Work of 19th Century Feminists Essay example1961 Words   |  8 Pagescentury feminists began to question the laws, and regulations that were placed by the government at that time. They began speaking up, quoting the bible, constitution and declaration of independence. â€Å"It was we the people, not we, the white male citizens, nor yet we, the make citizens; but we the whole people, who formed this Union† (Anthony 41). That they too were human beings, therefore citizens, which meant they were entitled to the benefits of what it meant to be a citizen not just the burden

How Socioeconomic Status Affects Cognitive Development of...

The development of children can depend on many factors, one of the important ones being socioeconomic status (SES). SES can be defined as a multidimensional construct, including measures of social factors such as power, prestige and hierarchical social status, and economic resources (Hackman and Farah, 2009). Child development can be studied from multiple dimensions such as physical, mental, social, and emotional development among others. For the purposes of this study, I will be focusing on how socioeconomic status affects child cognitive development. Cognitive development is the development of memory, reasoning, problem-solving and thinking abilities in a child. A UK based study about Socioeconomic Status and Children’s Intelligence†¦show more content†¦The study was strong in that, they used a twin study controlling the gene factor and properly studies the environment. They had a sample size of 8716 twins which a quite large sample size, representing the general pu blic. They were also able to study children of multiple ages which shows that the effects are constant regardless of age. Another study to study SES and cognitive development was done by Merete Osler1, Kirsten Avlund, and Erik Lykke Mortensen to examine the influence of social circumstances early in life on changes in cognitive function from young adulthood to middle age (2012). They looked at the impact of birth characteristics like birth weight and maternal age, childhood activities in leisure time, education and adult social class on the expected relationship. A sample of 11 532 men aged 12, 18, and 57 were assessed. To find the association of early-life characteristics with cognitive test scores, a linear regression was used. They found that the scores at age 57 years highly correlated with the scores at ages 12 and 18 years. Participants who had a father in the working class at birth were related to having lower cognitive function at all three ages. It was also found that a d ecline in cognitive function was present with low education, many social activities and minimum intellectual activities during childhood in leisure time and low adult social class. The strength of this study was that they used a large sample size, andShow MoreRelatedThe Health And Academic Performance Of Children887 Words   |  4 Pagesacademic/professional, socioeconomic backgrounds and many other attributes that contribute to diversity as a whole. As an educator you need to be fully aware of these differences among your students, so you can provide a classroom where the students are comfortable interacting with different people, ideas and backgrounds within the physical school environment. Diversity can contribute to the effects on the health and learning of children and my aim will be to narrow the selection to socioeconomic status (SES) onRead MoreEffects of Socioeconomic Status and Ethnicity on a Child1542 Words   |  7 PagesThe socioeconomic status of a family and their e thnicity has a substantial effect on their child’s early learning and determines how much their child will accomplish through life. Life events from before birth to three years old will have significant impact on brain development (Nelson, 1999). Socioeconomic status limits how much a family could provide to aid a child’s development. Middle-class families can better prepare their children with opportunities for success than families with low householdRead MoreThe Positive Effect of High Quality Childcare on Childrens Cognitive Development1452 Words   |  6 PagesCognitive development is defined as the growth and change in a person’s ability to perform mental tasks including thinking, understanding and reasoning (California Department of Education, 2014). Cognitive development is a process involving a complex interaction between biological and environmental factors (Feinstein, 2003, as cited in Wong, Edwards, 2013). There are multiple factors that occur in ea rly childhood including breastfeeding, parental intelligence and obstetric complications that haveRead MoreFactors That Influence Human Development1646 Words   |  7 PagesIn your own words, what role does socioeconomic status, cultural context, and ethnicity play in development (show examples of each)? In our day and time, socioeconomic status, cultural context, and ethnicity play a huge role in human development. Human development begins while in the womb and at birth and continues through life heavily depending on these particular factors. These factors determine how a person communicates, works, looks, and chooses to live their daily lives. People are individualsRead MoreThe Effects Of Video Games On The Development Of An Individual1659 Words   |  7 Pagesinfluence on the development of an individual. All of the research studies revolved around how external sources effected the development of a person. Each study focused on a different age and aspect of an individual’s surroundings. Article one â€Å"Infant Development Outcomes: A Family Systems Perspective† focused on the early stages of infancy; birth to seventeen months, and the effects of the individual mental status of each parent and the relationship of the parents on the infants cognitive and physic alRead MoreThe Process Of Ordinary Cognitive Development2257 Words   |  10 Pagesprocess of ordinary cognitive development has often been viewed as an independent, isolated progress due to inherent, individual, and identically produced growth. However, in current literature, there has been a growing consensus that socioeconomic status, and its subsequent resources, cannot be abstracted from the process or success of cognitive development. In one study, through the investigation of relationships between socioeconomic status and brain morphometry, socioeconomic disparities wereRead MoreThe Effects Of Stress From Socioeconomic Status And Postsecondary Educational Attainment1083 Words   |  5 Pages the effects of stress from socioeconomic status and postsecondary educational attainment. SAWAT PHANTHAVADY A Child cannot choose the life their born into. For some this means a life of poverty and uncertainty. This group is classified as having a low Socioeconomic Status (SES). Children are the once affected the most in this in this category. They are faced with negative caregivers, malnutrition, toxic environment and stress causing their brain structureRead MoreEffects Of Socioeconomic Status On Middle Childhood Essay1572 Words   |  7 PagesThe Effects of Socioeconomic Status from Birth to Middle Childhood Socioeconomic status is the driving force behind many aspects of life. In this essay I will touch on several ways in which it can impact areas of development both in the United States and other places around the world. The first area I would like to look at is Behavior. In the textbook chapter 2 discusses behavior genetics and heritability. It discusses the relationship between the genetic and the environmental influences usingRead MoreThe Equal Education System9443 Words   |  38 Pagesfrom this egalitarian system. Only 17% of Australians from low-socioeconomic backgrounds are able to attend university , roughly half the likelihood of Australians from medium and high socioeconomic backgrounds. This degree of socio-academic inequality has remained relatively stable for over a decade, creating a social stigma where individuals from high-socioeconomic households tend to succeed academically compared to their low-socioeconomic counterparts. However, on a micro-level I have witnessed friendsRead MoreHow Does Poverty Affect Education?1036 Words   |  5 PagesBoisvert Taylor Boisvert Mrs. Spoor English 11 April 17, 2017 Poverty Research Paper Research Question: How does poverty affect Education? A child who is raised in a stressful and poverty stricken household environment is more likely to channel their stress into disruptive behavior at school and will be less likely to develop a healthy social and academic life (Bradley and Corwyn, 2002). Many say that laziness is a factor affecting education and success rate, however, it is a proven fact that getting

Customer Buying Behaviour free essay sample

This paper investigates the relationship between independent variables which are shopping lifestyle of consumers, fashion involvement of consumers, pre-decision stage and post-decision stage of consumer purchase behavior with the attitudinal and behavioral aspects of impulse buying behavior. This study attempts to explore the association exists between the variables involved, by tapping the responses of 165 respondents from higher income group in the area of Rawalpindi and Islamabad. The major findings of the study demonstrated an overall weak association of the set of independent variables with the dependent variable but, the in-depth analysis found that pre-decision stage of consumer purchase behavior is the only variable that resulted into strong association with the impulse buying behavior. It’s true that young people more often get attracted to products displayed on store shelves and has greater tendency of impulse buying behavior but results of this paper showed no association of impulse buying in higher income group of young people having prevalent impulse buying tendencies. This study reported new evidences in the field of impulse buying behavior of consumers pertaining to the local markets of the twin cities of Pakistan. Keywords: Shopping lifestyle, fashion involvement, pre-decision stage, post-decision stage, Impulse buying behavior, Pakistan. 1. Introduction Stores are the place where buyers buy products whether it’s planned or unplanned purchase. These stores sell hundreds and thousands of products daily and consumers are consuming these products at the cost of their income. It only dependents on the income of the person, that how much and ow many times he or she visits shopping stores to buy products. It is usually seen that buyers purchase products which they have not planned and this phenomenon of unplanned purchasing is termed as impulse An Empirical Study of Consumer Impulse Buying Behavior in Local Markets 523 buying. In previous researches, researchers and scholars have tried to measure impulse purchasing of different types of product s in multiple shopping stores as it is reported by Bellenger et al. (1978); Du Pont (1965); Kollat and Willett (1967), Prasad (1975); Williams and Dardis (1972). In Pakistan there are four types of price indices; Consumer Price Index (CPI), Wholesales Price Index (WPI), Sensitive Price Index (SPI) and GDP Deflator, which are used to calculate inflation. Among these indicators, the major emphasis is on CPI as a measure of inflation, which covers 375 items in 71 markets of 35 cities of the country (Economic Survey, 2006-07). The average CPI value in the period (1990-00) was 9. 71 and it was 5. 8 in (2000-07). It is also seen that the inflation rate in lowest income group was 8. with the income ranging from below 3,000 up to 5,000 Rupees as compared to the inflation rate of 7. 3 in the upper income brackets having income of more than 12,000 Rupees. Hence, we can say with confidence that the purchasing capacities of households lying in upper income bracket in Pakistan have increased as compared to lower income groups. Here it is essential to quote the percentage shares of the income groups mentioned above. The 20% lower income group in Pakistan holds 9. 65 percent of the total income share and the 20% of the highest income group in Pakistan holds 41. 2% of the total income share where as rest goes to middle income group which is 48. 63% comprising 60% of the total income group (Federal Bureau of Statistics, 2004-05). These figures are quoted here to build a framework in which we further extend this study. Now, the figures presented earlier demonstrated that there is a tendency of impulse buying in higher income group in Pakistan as their income level clearly indicates this trend. In this study more than 80 percent of the respondents (see annexure) were related to the higher income bracket having income greater than 12,000 Rupees per month. Increased disposable income as well as credit availability has resulted in increased impulse buying habit among consumers in the retail environment as reported by Dittmar and Drury (2000). In order to tap this behavior of impulse buying in the consumer, we have selected areas of Rawalpindi and Islamabad to initiate our research. We are intending to investigate that whether higher income group having income greater than 12,000 Rupees have planned or unplanned buying behavior. The basic questions we want to investigate in this research study are as follows: Q1: What is the level of association between shopping life style and impulse buying behavior of consumers of higher income group having disposable income, shopping in the area of Rawalpindi and Islamabad? Q2: What is the level of association between fashion involvement and impulse buying behavior of consumers of higher income group having disposable income, shopping in the area of Rawalpindi and Islamabad? Q3: What is the level of association between pre-decision stage regarding purchasing and impulse buying behavior of consumers of higher income group having disposable income, shopping in the area of Rawalpindi and Islamabad? Q4: What is the level of association between post-decision stage regarding purchasing and impulse buying behavior of consumers of higher income group having disposable income, shopping in the area of Rawalpindi and Islamabad? 2. Rationale of the Study It is seen that shopping mall owners tried to exploit impulses, which are associated with the basic need for instant satisfaction. A buyer in the shopping store might not specifically be shopping for the confectionary goods like, sweets, chocolates, bubble gums, mints and biscuits. However, related confectionary items displayed at prominent places will certainly attract buyer’s attention and trigger impulse buying behavior in them. This phenomenon can easily be understood with the help of two principles/forces as a part of psychological review of literature, which interprets impulses as the consequences of these competing principles/forces. These principles are well presented in the papers of Freud (1956) and Mai,et al. (2002). These principles are stated below: 524 Muhammad Ali Tirmizi, Kashif-ur-Rehman and M. Iqbal Saif a. First, the pleasure principle b. Second, the reality principle The pleasure principle is related to immediate satisfaction felt by consumer whereas the reality principle is related to delayed gratification. There is always an ongoing competition between these two forces represented as principles within the buyer when they enter a shopping store with the intention to buy. As a consequence impulse related behavior overcomes them because impulses are usually difficult to resist and involve premeditated pleasurable experiences, as of study of Rook (1987). In this paper we are interested in finding associations among variables (see Research model and sub models) regarding spending of upper income group people regardless of linkages of these variables to different impulse buying patterns related to diversified groups of buyers. This paper will certainly add value to the existing knowledge base and simultaneously give us courage to indulge in further advance researches in the field of management sciences. This study is also useful for retailers and manufacturers who want to improve their understanding regarding consumer impulse buying behavior. 3. Purpose of the Study The purpose of the research study is to test the association of the independent variables that are; shopping life style, fashion involvement, pre-decision stage, post-decision stage regarding consumer purchasing with the dependent variable that is; impulse buying behavior of consumers who shop in the area of Rawalpindi and Islamabad. 4. Literature Review Marketing and consumer researchers over the period of forty years have tried to grasp the concept of impulse buying and defined this terminology in their own perspectives, for which some research findings are discussed here. In a research conducted by Cobb and Hoyer (1986), impulse buying was defined as an unplanned purchase and this definition can also be found in the research of Kollat and Willett (1967). In another research by Rook (1987) reported that impulse buying usually takes place, when a consumer feels a forceful motivation that turns into a desire to purchase a commodity instantly. Beatty and Ferrell (1998) defined impulse buying as instantaneous purchase having no previous aim or objective to purchase the commodity. Stern (1962) found that products bought on impulse are usually cheap. Shopping lifestyle is defined as the behavior exhibited by purchaser with regard to the series of personal responses and opinions about purchase of the products as reported by Cobb and Hoyer (1986). They find that shopping life style and impulse buying behavior are closely related but only in the case of impulse buyers. The study also states that impulse purchasers fell in the middle as of the measurement tools used by the researchers, indicated that purchasers will not pick the first brand they spotted in the shopping mall. In researches conducted by Cha (2001); Han et al. , (1991); Ko (1993) it is reported that impulse buying behavior regarding fashion products are associated with patterns like chaste, repeated emotions as well as fashion-oriented impulse buying behaviors. These facts were also quoted by Park et al. (2006). The definition of fashion involvement basically relates to apparel associated with fashionable outfits. The findings of Han et al. (1991) quoted in response to fashion involvement of consumers, that it might enhance fashion-oriented impulse buying behaviors among those who habitually wear fashion outfits. Fairhurst et al. (1989) and Seo et al. (2001) found a direct association among fashion involvement and apparels purchase. Positive emotions are defined as affects and moods, which determine intensity of consumer decision-making reported by Watson and Tellegen (1985). Park (2006) found a positive relationship of positive emotions, fashion involvement and fashion-oriented impulse buying with the overall impulse buying behavior of the consumers. Ko (1993) reported that An Empirical Study of Consumer Impulse Buying Behavior in Local Markets 525 positive emotions may result into fashion related impulse purchase. The researches of Beatty and Ferrell (1998); Husman (2000); Rook and Gardner (1993); Youn and Faber, (2000) found that emotions strongly influence buying behaviors, which result into consumer impulse buying. Babin and Babin (2001) ound that in stores consumer’s purchasing intentions and spending can largely be influenced by emotions. These emotions may be specific to certain things for example, the features of the items, customer self interest, consumer’s gauge of evaluating items and the importance they give to their purchasing at a store. Piron (1993) found that the total of nine items, a combination of pre-decision and post-de cision stages indicators, resulted into high significant differences and the values of correlations for unplanned purchases done by consumers resulted into higher value as compared to purchases done by consumers on impulse. Their study indicated that out of total questionnaires distributed which were 361, 53 were unplanned purchasers and 145 were impulse buyers (total= 198). 4. 1. Research Model Shopping lifestyle of consumer Fashion involvement of the consumer Pre-decision stage of the consumer regarding buying products Post-decision stage of the consumer regarding buying products ? = 0. 42 ? = 0. 710 ? = 0. 451 Attitudinal and Behavioral aspect of Impulse Buying Tendency and Frequency of consumers ? = 0. 653 ? = 0. 552 The above diagrammatical research model can be written in a mathematical form and the mathematical model of this research is stated below: ImpBB c, t = ? o + ? 1 Shoplifc, t + ? 2 Fashinvc, t + ? 3 Predec c, t + + ? c, t ? 4 Posdec c, t The mathematical equation given above has the following interpretations, given in the table 1 below: 526 Table 1: Symbol ? ? c t Constant IV-1 IV-2 IV-3 IV-4 Muhammad Ali Tirmizi, Kashif-ur-Rehman and M. Iqbal Saif Symbols and their meanings of the mathematical model Meaning Constant Model error Consumer Buying at a particular time ImpBB Shoplif Fashinv Predec Posdec Impulse buying Behavior Shopping lifestyle Fashion involvement Pre-decision stage Post-decision stage 4. 2. Hypothesis The hypotheses formulated after review of the literature are given below: H1: Shopping lifestyle of the consumers has a strong association with the impulse buying behavior of the consumers. H2: Fashion involvement of consumers has a strong association with the impulse buying behavior of the consumers. H3: Pre-decision stage of the consumer intending to buy a product has a strong association with the impulse buying behavior of the consumers. H4: post-decision stage of the consumer who has bought the product has a strong association with the impulse buying behavior of the consumers. The testing of the hypotheses is confined to the primary data collected from the area of Islamabad and Rawalpindi (the twin cities). 5. Methodology 5. 1. Sample The consumers, who shop in general stores, departmental stores, boutiques, shopping malls, small retail outlets, etc, in the area of Islamabad and Rawalpindi were taken as the population for this study. A convenient sample (non-probability sampling method) of 165 consumers was pooled up for the current study in which respondents of this study were requested to complete the questionnaire on voluntary basis and not a single attempt was made to chase non-respondents. Among the respondents, 74. 1% were related to the income group of more than 20,000 Rupees, 26. 1% related to the income group of less than 20,000 Rupees, 47. 9% were male and 52. 1% were female, 77% were between the age of (20-29), 3% were between the age of (50-59), 80% were unmarried and 18. 2% were married, 53. % were having masters degree and 33. 3% were having bachelor’s degree (see annexure). 5. 2. Instrumentation The instrument contained sub-parts. These sub-parts of the instrument were retrieved from different previous studies. The behavioral aspect of impulse buying in which items were arranged to measure the impulse buying tendency was adopted from the paper of Rook and Fisher (1995) and then further modif ied. Whereas, the attitudinal aspect of impulse buying in which items were arranged to measure frequency was adopted from the paper of Kacen and Lee (2002) and then further modified. This scale can also be found in the study of Mai et al. (2002). The sub-part of the questionnaire regarding consumer lifestyle was adopted from the paper of Cobb and Hoyer (1986), where items are measured on 5-point likert scale ranging from (1 = definitely disagree, 5 = definitely agree). The sub-part of the questionnaire regarding fashion involvement was adopted from the paper of Park et al. (2006), where items are measured on 7-point likert scale ranging from (1 = strongly disagree, 7 = strongly agree). The An Empirical Study of Consumer Impulse Buying Behavior in Local Markets 27 sub-part of the questionnaire regarding pre-decision and post-decision stage of consumer purchasing was adopted from the paper of Piron (1993), where items are measured on 5-point likert scale ranging from (1 = definitely disagree, 5 = definitely agree). After collecting 100 responses the reliability of the instrument was checked by the help of Statistical Package for Social Sciences. The value of Cronba ch’s Alpha was 0. 710, which confirmed the reliability of the instrument and then further responses up to 165 were collected. This instrument basically comprised of four parts in which questions were distributed regarding, Consumer lifestyle, fashion involvement, pre-decision stage and post-decision stage of consumer purchasing. 5. 3. Procedure The data collected was by means of well developed, adopted scale having four parts. This instrument was further modified according to the needs of the current study. All of the questionnaires were distributed among the respondents in the area of Rawalpindi and Islamabad personally by the researchers. Total of 200 questionnaires were distributed, but 165 questionnaires were returned. Thus, questionnaires recovery rate equaled 82 percent. The data was collected in the time frame of 20 days and then responses were fed into the Statistical Package for Social Sciences (SPSS) version 15 for analysis and evaluation. Multiple regression analysis was used as a statistical test to determine the degree of relationship between the variables involved in this study (Mai et al. , 2002). 6. Results and Discussion 6. 1. Results The data presented in table 2, shows the results extracted on the basis of multiple regression to find the association level between the Independent variables and the dependent variable. The testing of hypotheses developed earlier revealed the following results after which the mathematical model of this research has been modified: ? o ? 1Shoplif c, t ? 2 Fashinv c, t + ? 3 Predec c, t ImpBB c, t = ? 4 Posdec c, t + ? c, t The above modification of the mathematical model shows that hypothesis 1, 2 and 4 are rejected based on their weak associations among the variables involved (p 0. 5). Hypothesis 3 is only accepted based on the strong association among the variables involved (p 0. 05). Table 2: Constant 1. 328 (0. 340) [3. 908] . 000 Result of Hypothesis Testing (Beta Coefficients, Standard error in parenthesis, t-Value in Brackets and P- Values in italics) IV-1 . 123 (0. 093) [1. 320] . 189 H1 Rejected IV-2 . 076 (0. 041) [1. 837] . 068 H2 Rejected IV-3 . 279 (0. 060) [4. 618] . 000 H3 Accepted IV-4 . 125 (0. 084) [1. 494] . 137 H4 Rejected R Square . 302 F-Statistics 17. 324 .000 Legend: Constant: Attitudinal and Behavioral aspect of Impulse Buying Tendency and Frequency of consumers IV-1: Shopping lifestyle of consumer IV-2: Fashion involvement of the consumer IV-3: Pre-decision stage of the consumer regarding buying products IV-4: Post-decision stage of the consumer regarding buying products The results reveal that independent variable of pre-decision stage of the consumer regarding buying products account variation in the dependent variables with t-value [4. 618] that is significant at (p 0. 5), where as independent variables; shopping lifestyle of consumer, fashion involvement of the consumer and post-decision stage of the consumers regarding buying products account no variation in 528 Muhammad Ali Tirmizi, Kashif-ur-Rehman and M. Iqbal Saif the dependent variable with t-values that are not significant at (p 0. 05). We found that there is positive significant impact of these independent variables on the dependent variable (F = 17. 324)(p 0. 05). The va lue of Beta for all the independent variables shows a positive association within the model of coefficients. The value of (R-Square = 0. 302) and (R = 0. 550) predicting a moderate relationship between the set of independent variables and the dependent variable with the reduced error of prediction by 30. 2 percent. 6. 2. Discussion A positive relationship of fashion involvement with the impulse buying behavior of the consumers was reported by Park (2006). Where as, in our study, statistics showed a negative association between fashion involvement and attitudinal and behavioral aspects of impulse buying. Here, according to the statistical interpretation of results fashion involvement can’t be taken as impulse buying because consumers having fashion interests, if it is the case, usually buy branded products of high quality and style and like to purchase fashion apparels from their specified shops or boutiques. The study of Coob and Hoyer (1986) reported a strong association between shopping life style and impulse buying behavior. But, in our study shopping lifestyle is negatively associated with the overall impulse buying behavior which is evident from the fact that majority of the consumers are regular buyers because 53. % of them hold masters degrees and can plan their purchases. These buyers usually buy from routine store or shops and mostly avoid impulse buying. The statistics of table 2, showed that there is a positive relationship between pre-decision stage of consumer purchase and impulse buying behavior which can be supported by the study of Piron (1993), where they fou nd high significance difference and association for the total of nine items combining pre-decision and post-decision stage of consumer purchasing with impulse buying. Whereas, deviation in the statistical results are found in the case of post-decision stage of consumer’s purchasing behavior. Hence, According to the results of the analysis, young people having age between (20-29 years), holding master or bachelor degree and belong to a household having income greater than 12,000 Rupees are wise spenders because they plan their spending, have less fashion involvement as table-3 shows that among 165 respondents majority dress for comfort not fashion. But, this higher income group of young people have behavioral tendency of impulse buying at pre-decision stage of buying, which is evident from the results of table-2. Here, it is imperative to mention that in Pakistan young people using live in a joint family system. Table 3: Response of respondents on an item regarding fashion involvement I usually dress for fashion not comfort, if I must choose between two (N=165) Frequency Percent Valid Percent Cumulative Percent Strongly disagree 35 212 21. 2 21. 2 Very disagree 33 20. 20. 0 41. 2 Disagree 20 12. 1 12. 1 53. 3 Neither agree nor disagree 21 12. 7 12. 7 66. 1 Agree 20 12. 1 12. 1 78. 2 Very agree 20 12. 1 12. 1 90. 3 Strongly agree 16 9. 7 9. 7 100. 0 Total 165 100. 0 100. 0 Valid 7. Conclusion The results of this research study clearly indicate that there exits a weak association between consumer lifestyle, fashion involvement and post-decision stage of consumer’s purchasing behavior with the impulse buying behavior includ ing the attitudinal as well as behavioral aspects of the consumers An Empirical Study of Consumer Impulse Buying Behavior in Local Markets 529 buying behavior. Pre-decision stage of consumer’s purchasing behavior established strong association with the impulse buying behavior of the consumers. So, it is established through this research that consumers purchasing products in the area of Islamabad and Rawalpindi plan their purchases, having shopping lifestyle related to planned purchases and their post-decisions are also not guilty. The pre-decision stage of the purchasing associate these buyers with unplanned or impulse buying because these days stores are full of variety of products and a buyer can easily get interested in purchasing a product which appeals him or her while shopping the planned list of products and here pleasure principle comes into play. 8. Further research There is a need to conduct research regarding personality characteristics of consumers and find their impact on the impulse buying behavior in Pakistan, for which differences can be compared if research is conducted separately in the groups of male and female consumers. This proposed research can bring to surface the true association of personality characteristics of the consumers having impulse buying behavior and will also facilitate in identifying the main influential psychological factors accelerating the impulse buying behavior in consumers and it will definitely help practitioners in improving their marketing strategies regarding products sales.

Meralco Financial Analysis Essay Example

Meralco Financial Analysis Essay INTRODUCTION MERALCO is the Philippines’ largest electric power distribution company, with franchise service area covering 9,337 square kilometres. It provides power to 4. 8 million customers in 31 cities and 80 municipalities, which include the whole of Metro Manila, the provinces of Rizal, Cavite and Bulacan, and parts of Pampanga, Batangas, Laguna and Quezon. Business establishments in the franchise area account for almost 46% of the country’s Gross Domestic Product or GDP. Through Clark Electric Distribution Corporation or CEDC, a 65%-subsidiary, it holds the power distribution franchise for Clark Special Economic Zone in Clark, Pampanga. CEDC franchise area covers 32 square kilometres and 1,611 customers. The Company is organized into three major operating segments, namely, power distribution, real state and contracts, services and others. In 2010, MERALCO PowerGen Corporation or MPG (formerly Asian Center for Energy Management), a wholly owned subsidiary, was reorganized as the Company’s vehicle for potential entry into power generation. COMPANY PROFILE MERALCO marches on to its 108th year of service in 2011. Consistently in the list of the Philippines’ top five corporations and cited among Asia’s finest, MERALCO today serves over 4. 8 million residential, commercial and industrial customers. It is strategically located to serve the country’s center of commerce and industry and its hub of government services and infrastructures. It services about 30 manufacturing economic zones, which also compete in the global market. Likewise, the Company caters to providers of outsourced business process, both domestic and international. MERALCO’s 9,337 sq. km. ranchise area overs 31 cities and 80 municipalities including Metro Manila, the entire provinces of Bulacan, Rizal and Cavite; parts of the provinces of Laguna, Quezon, Batangas and Pampanga. Electrification level in the franchise area is 99%. MISSION to provide our customers the best value in energy, products and services. VISSION to be a world-class company an d the service provider of choice. OBJECTIVES: To protect and enhance the interest of its stakeholders by committing itself to the following principles. 1. The Customers are its reason for being, and therefore, they should always be treated with dignity. We will write a custom essay sample on Meralco Financial Analysis specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Meralco Financial Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Meralco Financial Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The Company must be fully responsive to their needs. The Company has the responsibility to: * Provide the customers with the highest quality products and services, consistent with their requirements and with international standards; * Treat the customers fairly, courteously and with integrity in all of its business transactions; * Act promptly on their immediate concerns and be receptive to their long-term needs and interest; and * Make every effort to ensure that the health, safety and general well-being of its customers are enhanced by its products and services. 2. The Employees are its most valued asset, and therefore, they should always be treated with dignity and with full consideration of their interest. The Company has the responsibility to: * Provide its employees with incentives and opportunities for professional growth and advancement; * Provide its employees with just and competitive compensation, and benefits that improve their living conditions and incentives * Guarantee fairness, equal treatment and opportunity and avoid discriminatory practices; and * Provide suitable and safe working conditions to protect employees from avoidable injury and illness in the workplace. . Its Investors are its principals, and therefore, the trust they have placed in the company must be honoured. The company has the responsibility to: * Apply professional and diligent management to ensure the financial viability of the company and maintain a fair and competitive return for its investors; and * Conserve and enhance its investors’ assets, and fulf il and safeguard their interest. 4. The Suppliers and Creditors are its business partners and, therefore, the relationship with them must be based on mutual respect and benefit. The company has the responsibility to: * Foster long-term stability, direct relation and continuous development with suppliers to attain quality, competitiveness, process efficiency and performance reliability; * Seek fairness, truthfulness, integrity and transparency in all of its business dealings with them; and * Seek encourage and prefer suppliers whose business practices respect human dignity and the environment. . The Competitors are its catalyst toward continuing service excellence and, therefore, the competition with them should be fair and honest, a basic requirement for national development in the distribution of products and services to the community. The Company has the responsibility to: * Promote behaviour that demonstrates mutual respect among competitors; and * Maintain the highest level of business ethics and integrity. . The Community is its business environment and the society it serves. The Company has the responsibility to: * Uphold and maintain at all times the highest standards of business ethics; * Fulfil with dedication and commitment its social responsibilities; * Undertake activities that support and contribute to the economic and social development of the country; 7. Employ proactive measures and cooperate with the government and non-government institutions in activities to serve society towards a collective benefit. * Help the government in its efforts and programs in its efforts and programs towards raising investor confidence, developing the capital market, and ensuring high sustained economic growth through good corporate governance. Observe and comply at all times with the orders, rules and regulations of the government, its agencies and instrumentalities, in the pursuit of its utility objectives and other corporate endeavors; * Institutionalize sound environmental practices in collaboration with the concerned government agencies and encourage other corporations/organizations to support all programs for an effective environmental management system. SUBSIDIARIES AND AFFILIATES * Meralco Powergen Corporation (MPG) * Clark Electric Distribution Corporation (CEDC) * Radius Telecoms, Inc. * Meralco Financial Services Corporation (FINSERVE) Lighth ouse Overseas Insurance Limited (LOIL) * Meralco Energy, Inc. (MEI) * Rockwell Land Corporation (ROCKWELL) * Republic Surety and Insurance Company, Inc. (RSIC) CONSOLIDATED FINANCIAL STATEMENTS MANILA ELECTRIC COMPANY AND SUBSIDIARIES| CONSOLIDATED STATEMENTS OF FINANCIAL POSITION| | | | | December 31 | | 2010 | 2009 | | (amounts in millions) | ASSETS| | | | | | Current Assets| | | Cash and Cash equivalents| Php 24,370. 00 | Php 17,068. 00 | Trade and other receivables net| 25,609. 00 | 21,600. 0 | Inventories at lower cost or net realizable value| 2,043. 00 | 1,857. 00 | Land and development costs at lower of cost or net realizable value| 1,708. 00 | 1,191. 00 | Other current assets| 2,027. 00 | 2,969. 00 | TOTAL CURRENT ASSETS| 55,757. 00 | 44,685. 00 | | | | Noncurrent Assets| | | Utility plant and others net| 101,009. 00 | 98,231. 0 | Construction in progress| 2,241. 00 | 3,627. 00 | Investments in associates and a joint venture| 321. 00 | 1,203. 00 | Investments properties net| 8,037. 00 | 8,021. 00 | Deferred pass through fuel costs| 1,222. 00 | 3,161. 00 | Deferred tax assets net| 42. 00 | 17. 00 | Other noncurrent assets net| 10,339. 0 | 13,184. 00 | TOTAL NONCURRENT ASSETS| 123,211. 00 | 127,444. 00 |   | Php 178,968. 00 | Php 172,129. 00 | | | | | | | LIABILITIES AND EQUITY| | | Current Liabilities| | | Notes Payable| Php 149. 00 | Php 513. 00 | Trade payables and accrued expenses| 31,138. 00 | 28,261. 00 | Income tax payable| 413. 00 | 133. 00 | Customers refund| 7,131. 0 | 9,147. 00 | Current portion of interest bearing long-term financial liabilities| 5,574. 00 | 4,069. 00 | TOTAL CURRENT LIABILITIES| 44,405. 00 | 42,123. 00 | | | | Noncurrent Liabilities| | | Interest-bearing long-term financial liabilities net of current portion| 15,498. 00 | 17,234. 00 | Customers deposits net of current portion| 23,761. 00 | 25,063. 0 | Deposits from pre-selling of condominium units| 741. 00 | 343. 00 | Deferred tax liabilities net| 3,322. 00 | 4 ,230. 00 | Long-term employee benefits| 9,547. 00 | 10,987. 00 | Provisions| 12,875. 00 | 7,492. 00 | Advances for construction net of current portion| 3,271. 00 | 2,989. 00 | Other noncurrent liabilities| 2,352. 0 | 522. 00 | TOTAL NONCURRENT LIABILITIES| 71,367. 00 | 68,860. 00 |   |   |   | TOTAL LIABILITIES| 115,772. 00 | 110,983. 00 | | | | Equity Attributable to Equity Holders of the Parent| | | Common Stock| 11,273. 00 | 11,273. 00 | Subscriptions receivable| (738. 00)| (960. 00)| Additional paid-in capital| 4,111. 0 | 4,112. 00 | Excess of Acquisition cost over carrying value of non-controlling interest acquired| (328. 00)| (328. 00)| Employee shared-based payment plan| 743. 00 | 569. 00 | Unrealized fair value gains on available-for-sale investments| 96. 00 | 71. 00 | Share in cumulative translation adjustment of a subsidiary and an associate| 12. 00 | 684. 0 | Retained earnings:| | | Appropriated| 6,000. 00 | 4,198. 00 | Unappropriated| 37,800. 00 | 37,750. 00 | Equ ity Attributable to Equity Holders of the Parent| 58,969. 00 | 57,369. 00 | | | | Non-controlling interests| 4,227. 00 | 3,777. 00 | TOTAL EQUITY| 63,196. 00 | 61,146. 00 | | | | | | | Php 178,968. 00 | Php 172,129. 00 | MANILA ELECTRIC COMPANY AND SUBSIDIARIES| CONSOLIDATED STATEMENTS OF INCOME| | | | | Years Ended December 31 | | 2010 | 2009 | | (amounts in millions, except per share data) | | | | REVENUES| | | Sale of electricity| 239,077. 00 | 178,686. 00 | Sale or real state| 3,375. 00 | 2,877. 00 | Sale of contracts, services and others| 3,009. 00 | 2,987. 00 |   | 245,461. 0 | 184,550. 00 | | | | | | | EXPENSES (INCOME)| | | Purchased power| 200,916. 00 | 150,928. 00 | Operations and maintenance| 15,711. 00 | 13,611. 00 | Depreciation and amortization| 6,219. 00 | 5,064. 00 | Provision for probable charges and expenses from claims| 5,750. 00 | 3,351. 00 | Cost of real estate sold| 2,640. 00 | 2,230. 0 | Interest and other financial income| (2,690. 00)| (4,246. 00)| Cost of services| 1,996. 00 | 1,803. 00 | Provision (reversal of provision) for probable losses from refund net| (1,632. 00)| (1,179. 00)| Interest and other financial charges | 493. 00 | 3,328. 00 | Equity in net earnings of associates and a joint venture| (283. 00)| (245. 0)| Accretion of present value impact on customers refund | 225. 00 | 555. 00 | Foreign exchange losses (gains) net| 51. 00 | (266. 00)| Taxes, fees and permits| 974. 00 | 421. 00 | Others| 654. 00 | 216. 00 |   | 231,024. 00 | 175,571. 00 | | | | INCOME BEFORE INCOME TAX| 14,437. 00 | ,979. 00 | | | | PROVISION FOR (BENEFIT FROM) INCOME TAX| | | Current| 5,233. 00 | 3,218. 00 | Deffered| (913. 00)| (595. 00)|   | 4,320. 00 | 2,623. 00 | | | | NET INCOME| Php 10,117. 00 | Php 6,356. 00 | MANILA ELECTRIC COMPANY AND SUBSIDIARIES| CONSOLIDATED STATEMENTS OF CASH FLOW| | | | | | | 2010| 2009| | | (Amounts in Millions)| CASH FLOW FROM OPERATING ACTIVITIES| Php 14,437. 0 | Php 8,979. 00 | Income before income tax| | | A djustments for:| | | | Depreciation and amortization| 6,219. 00 | 5,064. 00 | | Provision for probable charges and expenses from claims| 5,750. 00 | 3,351. 00 | | Interest and other financial income| (2,690. 00)| (4,246. 00)| | Interest and other financial charges| 493. 0 | 3,328. 00 | | Provision (reversal of provision) for probable losses from refund net| (1,632. 00)| (1,179. 00)| | Loss on disposal of utility plant and others net| 1,033. 00 | | | Provision for doubtful accounts, net of recoveries| 982. 00 | 886. 00 | | Cost of guaranteed service levels pay-out| 388. 00 | 216. 0 | | Loss from disposal of investment| | 46. 00 | | Equity in net earnings of associates and a joint venture| (283. 00)| (245. 00)| | Present value impact on customers refund| 225. 00 | 555. 00 | | Employee share-based payments| 174. 00 | 301. 00 | | Reversal of write-down of inventory to net realizable value| (3. 0)| (41. 00)| | Gain on disposal of investment property| (4. 00)| | | Donation of investm ent property| 2. 00 | |   | Foreign exchange loss (gain)| 51. 00 | (266. 00)| Operating income befor working capital changes| 25,412. 00 | 16,749. 00 | Decrease (increase) in:| | | | Trade and other receivables| (10. 0)| 15,601. 00 | | Inventories| (130. 00)| (168. 00)| | Land and development costs| (517. 00)| (531. 00)| | Deferred pass-through fuel costs| 1,939. 00 | 631. 00 | | Other current assets| 955. 00 | (1,854. 00)| Increase (decrease) in:| | | | Trade payables and accrued expenses| 41. 0 | 8,798. 00 | | Customers refund| (2,241. 00)| (2,889. 00)| | Customers deposits| 1,298. 00 | 2,913. 00 | | Deposits from pre-selling of condominium units| 398. 00 | 307. 00 | | Long-term employee benefits| (1,424. 00)| (1,555. 00)|   | Provisions| (140. 0)| (4,935. 00)| Net cash generated from operations| 25,311. 00 | 33,067. 00 | Income tax paid| (4,953. 00)| (3,797. 00)| Net cash flows generated from operating activities| 20,358. 00 | 29,270. 00 | CASH FLOW FROM INVESTING ACTIVITIE S| | | Additions to:| | | | Construction in progress| (5,769. 00)| (7,914. 0)| | Utility plant and others| (2,741. 00)| (187. 00)| | Intangibles| (300. 00)| (127. 00)| | Investments properties| (110. 00)| (662. 00)| Interest and other financial income received| 1,058. 00 | 1,332. 00 | Proceeds from:| | | | Return of investment| 752. 0 | | | Disposal of utility plant and others| 82. 00 | | | Disposal of investment property| 28. 00 | | | Settlement of deliverable currency forwards| 5. 00 | | Dividends received from associates| 96. 00 | 445. 00 | Dividends paid by subsidiaries attributable to non-controlling interests| (15. 00)| | Decrease (increase) in:| | | | Other noncurrent assets| 622. 0 | (1,657. 00)| | Other receivables| | | Net cash used in investing activities| (6,292. 00)| (8,770. 00)| CASH FLOW FROM FINANCING ACTIVITIES| | | Proceeds from:| | | | Interest-bearing long-term financial liabilities, net of issue costs| 10,528. 00 | 12,398. 00 | | Notes payable| 380. 00 | 2,93 6. 00 | | Collection of subscriptions receivable| 222. 0 | 445. 00 | Payments of:| | | | Interest-bearing long-term financial liabilities| (10,748. 00)| (8,295. 00)| | Dividends| (6,187. 00)| (2,820. 00)| | Interest and other financial charges| (2,044. 00)| (1,524. 00)| | Notes payable| (744. 00)| (12,251. 00)| | Stock transaction costs| (1. 0)| | Increase(decrease) in other noncurrent liabilities| 1,830. 00 | 277. 00 | Net cash flow used in financing activities| (6,764. 00)| (8,834. 00)| NET INCREASE IN CASH AND CASH EQUIVALENTS| 7,302. 00 | 11,666. 00 | CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR| 17,068. 00 | 5,402. 00 | CASH AND CASH EQUIVALENTS AT END OF YEAR| Php 24,370. 0 | Php 17,068. 00 | MANILA ELECTRIC COMPANY AND SUBSIDIARIES| RATIO ANALYSIS| | 2010| 2009| TEST OF LIQUIDITY| | | | | | A. Current Ratio =| Current Assets| | | Current Liabilities| | | | | =| 55757. 00 | 44685. 00 | | 44405. 00 | 17234. 00 | | | | =| 1. 26| 1. 06| | | | B. Acid-test Ratio =| Cash + Short -term investments +receivables (net)| | | Current Liabilities| | | | | =| 49979. 00 | 3048. 00 | | 44405. 00 | 17234. 00 | | | | =| 1. 13| 0. 18| | | | C. Receivables turnover =| Net credit sales| | | Average net receivables| | | | | =| 245461. 00 | 184550. 00 | | 36409. 00 | 36409. 00 | | | =| 6. 74| 5. 07| | | | Average Collection period =| 365 days| | | receivable turnover| | | | | =| 365 days| 365 days| | 6. 74| 5. 07| | | | =| 54. 15 days| 72. 01| | | | D. Inventory turnover =| COGS| | | Average inventory| | | | | =| 221263. 00 | 168572. 00 | | 2971. 50 | 2971. 50 | | | | =| 74. 46 times| 56. 73| TEST OF SOLVENCY| | | | | | A. Debt to total assets ratio =| total debt| | | total assets| | | | | =| 115772. 00 | 110,983. 00| | 178968. 00| 172,129. 00| | | | =| 0. 65| 0. 64| | | | B. Times interest earned =| Income before income taxes and interest expense| | | interest expense| | | | | =| 14,437. 0 | 8979. 00 | | 493. 00 | 3328. 00 | | | | =| 29. 28| 2. 70| | | | TEST OF PROFITABIL ITY| | | | | | A. Profit Margin =| Net income| | | Net sales| | | | | =| 10,117. 00 | 6356. 00 | | 245,461. 00| 184550. 00 | | | | =| 4%| 3%| | | | B. Asset Turnover =| Net Sales| | | Average assets| | | | | =| 245,461. 00 | | | 175,548. 50 | | | | | =| 1. 40| | | | | C. Return on assets =| Net Income| | | Average Assets| | | | | =| 10,117. 00 | | | 175,548. 50 | | | | | =| 6%| | | | | D. Return on common stockholders equity =| Net income| | | Average common stockholders equity| | | | =| 10,117. 00 | | | 11,273. 00 | | | | | =| 90%| | | | | E. Earnings per share =| Net Income| | | Weighted average common shares outstanding| | | | | =| 10,117. 00 | | | 1,127. 00 | | | | | =| 8. 98| | | | | F. Price-earnings ratio =| Market price per share of stock| | | earnings per share| | | | | =| 10| | | 8. 62| | | | | =| 1. 16| | | | | G. Pay-out Ratio =| Cash Dividends| | | Net income| | | | | =| 7,834. 00 | | | 10,117. 00 | | | | | =| 77. 43| | ANALYSIS HORIZONTAL AND VERTICAL ANALYSIS REVENUES For the year end December 31, 2010 MERALCO procured a Php245, 461 million revenues, 33. 0% higher than previous year revenues worth Php184, 550 million. Sales from the three major operating segments increased during the year 2010 with the power distribution as the top performing operating segments. Php178,686 million sales from electricity was a 96. 82% of Php184,550 million. EXPENSES Expenses for the year 2010 amounted to Php231,024 million was increased by Php55,453 million or 31. 58% due to higher purchased power that was increased by 33. 12%. In support to this, purchased power got 86. 97% of the total Php231,024 worth of expenses. NET INCOME Php10,117 million net worth of income of 2010 was 59. 7% higher than 2009 it’s because of the higher sales of electricity for the year 2010. Eventhough the net income for the year 2010 is just a 4. 12% of the total sales the company still achieved its higher net income compare to 2009. CURRENT ASSETS As of December 31, 2010, the Com pany’s consolidated cash and cash equivalents amounted to Php24,370 million, Php7,302 million or 42. 78% higher compared with the balance of Php17,068 million of December 31, 2009. In addition, cash and cash equivalents achieved 13. 62% of its Php178,968 million total assets. This is due to a higher average collection period from 29 days to 24 days. Other increase in current assets may be due to higher sales for the year 2010. CURRENT LIABILITIES Current liabilities had increased by 5. 42% or Php2,282 million by the year ended December 31, 2010 with trade payables and accrued expenses having the highest increase worth Php2,877 million, achieving 20. 52% of its total liabilities. Decreases in the current liabilities was due to payments of some payables and some customer’s refund. NONCURRENT ASSETS Most of the noncurrent assets had decreased by the year 2010, this is due completion of major electric projects and due to consumption of fuel gas. NONCURRENT LIABILITIES A total of Php4,789 million increase in noncurrent liabilities of the company may due to issuance of long term obligations that could result in an increase in working capital. This increase was due to pre-termination of some loan deposits received from units sold on instalment contracts. EQUITY The employee shared-based payment plan had increased by 31% as of December 31, 2010. This is due to recognition of the provisions of PFRS2, â€Å"Shared-based Payments† related to Employee Stock Puchase Plan. And a decrease of 98. 5% of the share in cumulative translation adjustment of a subsidiary and an associate was resulted from the return of capital related to the Company’s investment in FPPC. RATIO ANALYSIS CURRENT RATIO A total of Php55,757 million worth of current assets definitely means a capability of the Company to pay its current liabilities worth Php44,045. This means a 1. 26 current ratio is an indicator of a slightly strong financial position . ACID-TEST RATIO A 1. 13:1 acid-test ratio of the company simply portrays that its most liquid assets can settle its current liabilities. RECEIVABLE TURNOVER The Company can collect its receivables 6. 74 times in a year with an average of 54. 15 days or less than two months collection period. This situation is favourable to the company’s present position. INVENTORY TURNOVER As inventory is being concern, the company is efficient in managing its inventories. A 74. 46 times inventory turnover is a proof of the latter statement. It is not too high nor too low indicating a better liquidity. DEBT TO TOTAL ASSET RATIO More than half of the company’s assets are financed through the company’s debts. This is proven by a 0. 65 ratio of debt to total asset. TIMES INTEREST EARNED Since the earnings of the company, Php14,437, is higher than its total interest expense, Php493, the company has the capability to settle its debts. Getting a 30. 28 ratio means that the company is able to meet its interest obligations because its earnings is significantly greater than its annual interest obligations. PROFIT MARGIN Compare to 2009 profit margin of 3%, the company got 4% profit margin which indicates that the revenue earned, Php245, 461million by the company was effectively converted into actual profit, Php10,117 million, despite of Php231, 024 total expenses . ASSET TURNOVER The 1. 4 asset turnover ratio of 2010 is relatively higher than 2009 meaning despite of Php178,968 million total assets the company still gained a total revenue of Php245,461 million with a total net profit of Php10,117 million meaning the company is efficiently utilizing its assets to produce a favourable profit. RETURN ON ASSETS The company has a total 6% return on assets of 2010 which is 2% higher than 4% return on assets of 2009 indicates that the company can make an intelligent choice on how to spend its money on new assets. RETURN ON COMMON STOCKHOLDER’S EQUITY A 6% increase in return on common stockholder’s equity simply indicates that the company is generating profits on its common stock investment meaning it is generating an income for the benefit of common stockholders. EARNINGS PER SHARE With an 8. 62 earnings per share which is higher than the 2009 EPS, 5. 74, the company is getting a higher earnings, meaning a strong financial position. PRICE-EARNINGS RATIO The 1. 16 price-earnings mean that investors are ready to pay 10 times earnings. The company has a chance in getting numerous investors. PAY-OUT RATIO A 77. 3% of the total Php7834 can be paid back to shareholders. Investors will increase its confidence to the company. CONCLUSION MERALCO is the Philippines’ largest electric power distribution company, with franchise service area covering 9,337 square kilometers. It provides power to 4. 8 million customers in 31 cities and 80 municipalities, which include the whole of Metro Manila, the provinces of Rizal, Cavite and B ulacan, and parts of Pampanga, Batangas, Laguna and Quezon. Business establishments in the franchise area account for almost 46% of the country’s Gross Domestic Product or GDP. The Company registered consolidated revenues for the year ended December 31, 2010 amounted to P=245,461 million, 33% higher compared with the P=184,550 million for the same period last year. Sales from all operating segments increased during the year with the highest registered by power distribution. The increase in electricity spending is attributable to (i) increased number of customers across all customer classes, (ii) growth in various industries as restocking activities resume after the global economic crisis, (iii) unusually warmer temperature during the first half of the year and, (iv) election spendings. Sales from electricity amounted to P=239,077 million, an increase of P=60,391 million, or 34%, from P=178,686 million for the year ended December 31, 2009. Consolidated costs and expenses amounted to P=231,024 million for the year ended December 31,2010, P=55,453 million higher than the P=175,571 million last year, primarily due to higher purchased power costs, increased provision for doubtful accounts, accrual for compensation and employee benefits. The 2010 consolidated full year results reflect higher recurring net income compared with 2009 mainly as a result of increased volume of energy sold. Revenues generated from power distribution amounted to P=239,164 million for the year ended December 31, 2010, higher by 34% compared with P=178,752 million in 2009. Pass-through charges increased by P=48,442 million, or 33% to P=195,435 million compared with P=146,993 million in 2009, as a result of higher average generation charge during the year, partially offset by the decrease in the average recoverable system loss charge to P=11,567 million from P=16,108 million. Costs and expenses of the power distribution segment increased by P=55,211 million, or 32%, to P=225,905 million in 2010 compared with P=170,694 million in 2009. For the year ended December 31, 2010, purchased power costs amounted to P=200,916 million, an increase of 33% from P=150,928 million in 2009 brought about by the higher electricity consumption particularly from the industrial customers and increased in average purchased power cost per kWh. Operations and maintenance expense increased by P=2,100 million, or 15%, to P=15,711 million for the year ended December 31, 2010 compared with P=13,611 million for the year ended December 31, 2009 brought about by the increases in salaries and wages and provision for doubtful accounts. MERALCO’s liquidity increased as the current and quick ratio rose in 2010. On the other hand, the company’s collection of receivables had dropped down from 72 days of 2009 to 54 days of 2010. This means the company is having a good turnover when it comes to it receivables. in this connection, the company achieved the 74. 46 times of inventory turnover that resulted to a higher sales. 0. 65 debt to total asset ratio and 30. 28 times interest earned proved that the company is solvent and able to meet its interest obligations. Revenue earned was effectively converted into actual profit despite of a higher total cost of expenses still the company gained a 59% increase in net income. As far as asset is concern, the company is efficiently utilizing its asset that resulted to a favourable profit. And because of the increase, we can say that the company is profitable and this could gain the trust of shareholders and may attract investors. RECOMMENDATION MERALCO’s total performance could be the basis of prospective investors to invest and it could be the reason why present stockholders will continue to do business with the company. A favourable increase in sales as well as the increase in net income may not be an indicator of a total good performance of a company. The management should still preserve its good turnover on assets and inventories to preserve its stockholders and the legacy that MERALCO had started ever since. The company should sustain its good performance since it’s the number one electricity supplier here in the Philippines. The service should be enhanced and be improved as well. Customer’s refund should be minimized as well as the receivables. The company should think of a better way of reducing refunds and receivables without sacrificing it’s service and trust of the customers. Assets should continue to increase and be utilized in the right manner. Acquiring of assets should be done in the right time so that the company will not suffer in paying its unwanted debts. Continuous improvement and innovation when it comes to service is highly recommended for the company to hold its present position in the market. MERALCO should continue to give light and power to the entire archipelago.

The New York Stock Exchange Essays

The New York Stock Exchange Essays The New York Stock Exchange Paper The New York Stock Exchange Paper Our purpose is to supply you and your company with detailed information, so you can make an educated decision on the stock option you hope to purchase and profit from over the next few years. We have decided to analyze Cedar Fair, LP (NYSE: FUN) and one of its main competitors Walt Disney Co. (NYSE: DIS). When researching, it is vital to use all your resources. We at Walnut Street Securities, Inc. have done extensive investigation so we can bring you the best stock options with the highest profitability and success rate. While looking at Cedar Fair, we will take into consideration that no company is perfect. There might be discrepancies, but we find that it is very important for us to bring you all the facts from every aspect of the company before making a decision on a purchase. Scope We have researched and reviewed the companies background information, financial reports, press releases, stock prices, dividends, competitors, additions and new attractions, and even lawsuits that could influence this company in the stock market. As we look at the background information we will see the progress Cedar Fair has made over the years and the current assets this company possess. We will also see in the financial portion of the report, the effects on revenue, net income, and sales over the last three years. In addition, while looking at the stock and dividend prices you will be able to compare Cedar Fair, LP and Walt Disney, Co. for the highest return rate. The recent press releases and current lawsuits will also give you an insight as to how these companies perform according to the news reports and public opinion. Methodology To research the data enclosed in the report we sent Walnut Street Securities, Inc. representatives to libraries to research financial and company databases and websites. As well, printed sources, such as newspapers and periodicals, were used in the research of this report. Some of the printed sources used were from Standard and Poors 2006 Edition, Americas Most Watched Companies and Mergents, Handbook of Common Stock. Some of the helpful databases and websites we researched were cedarfair. com, disney. com, bigcharts. com, valueline. com, and businesssourcepremier. com. Cedar Fair, LP specializes in entertainment and amusement. Rollercoaster, park rides, water parks, indoor water parks, shows, resorts, games, food, and souvenirs is what this company offers to the public. As the NYSE ticker symbol suggests (FUN) is what Cedar Fair is all about. Cedar Fair since commencing operations in 1983, has accumulated twelve properties, seven amusement parks, and five water parks. Cedar Point located on Lake Erie, between Cleveland and Toledo, OH, serves a total market area of about 26 million people. Knotts Berry Farms, Los Angeles, CA, serves more than 20 million people. Dorney Park and Wild Water Kingdom in Allentown, PA serves 35 million people. Geauga Lake and Wild Water Kingdom located near Cleveland, serves around 7 million people and Michigans Adventure in Muskegon, MI serves the area of about 5 million people. (Annual Report, 2) The five water parks are located near San Diego, Palm Springs, and also accompany Knotts Berry Farms, Worlds of Fun, and Cedar Point. Cedar Fair also owns and operates Castaway Bay indoor water park and resort in Sandusky, OH. (Annual Report, 2) In 1991, Cedar Fair consisted of only two parks with combined attendance of only 4. 1 million people a year and $128 million in revenues. Recently, attendance has reached over 12. 7 million people a year and maintains revenues of $520 million. This is about a 3% increase from the previous year. (www. valueline. com) Four years after commencing operations, in 1987, Cedar Fair, LP became publicly traded in the New York Stock Exchange.

The Cinema of Attractions Essay Example | Topics and Well Written Essays - 1000 words

The Cinema of Attractions - Essay Example Still, the cinema of attractions is a way of the audience identification and the reflection of the needs of the society of nineteenth and early twentieth century. In case the cinema was able to show something, it was considered to be a good cinema. The early cinema is of the exhibitionist nature. The audience is targeted by the specific images they want to see. Gunning claims that it was very important the way camera interacted with the eyes of an actor. In such a way, the audience had a chance to feel an interaction with heroes on the screen. Both of them were watchers (Diiorio, 2003). The attention of a spectator was very important for the directors of early cinema. This aspect was specially supervised. That is why they were really concerned about visual contact between the viewers and the actors. Only images, which were shown to the audience, were important for them. We can illustrate this claim by the film directed by Edwin Porter â€Å"The Great Train Robbery† in 1903. In this film the bandit looks at the audience and makes a shot. The viewers are able to see the smoke of the gun. This scene happens in the beginning of the film and the audience catches its breath in a foretaste of further events or images. This move is referred by Gunning as exhibitionist move showing the views what will happen next. Gunning claims that: â€Å"the cinema of attractions does not disappear with the dominance of narrative, but rather goes underground, both into certain avant-garde practices and as a component of narrative films, more evident in some genres than in others†. If not images are practiced as the tools to exert influence on the audience, then music is often used by the directors of the later films. (after 1906). In the film directed by Victor Fleming â€Å"The Wizard of Oz† (1939), the events are surrounded by music (Faden, 2001). We can see the way the main characters show their inner states. This technique is used by the directors in order to make them understand further development of events. Therefore, the narrative is supported by music and there is a lack of exhibitionist strategy in it. Viewers obtain help from the directors in order to perceive what is going on the screen correctly. Thus, attractions in the early films were used as tools to grasp attention of the audience and in later films director’s techniques were used to understand moods of the cinema’s characters (Brewster & Jacobs, 1997). According to Gunning, â€Å"This is not to say that narrative films are entirely separate to the world of the cinema of attraction. On the contrary, narratives will often incorporate this form of cinema into their development. However, since this method of cinema does tend to disrupt the realistic illusion created by the audience’s lack of self-awareness, incorporating it usually has a result of slowing down the progression of the narrative† (Gunning, 2000). Therefore, the cinema of attractions c omprises films before 1906 and avant-garde films, but nowadays many directors use these techniques as well. Modern Hollywood films are also based on the techniques of attraction, when the audience can see the face of the main character clearly and feel with him or understand him better. The exhibitionist nature of the cinema of attractions was mainly used for creation of a special atmosphere on the screen. There are special concepts of attraction in

Concept Analysis of Consciousness Research Paper

Concept Analysis of Consciousness - Research Paper Example Concept Analysis: Pattern Recognition from Margaret A. Newman’s Theory of Health as Expanding Consciousness (HEC) Some people perceive health as the state or condition where there is the absence of a disease or disability, an assumption which triggered Newman into developing the theory of Health as Expanding Consciousness (HEC) (Newman, 2002). In most cases, these people who include those with health uncertainties, incapacitated, and eventual death; are usually associated or relate with nurses. Over the years, the concept has developed and it incorporates all people regardless of the presence or absence of a disease and/or a disability. The development of the HEC theory is attributed to Martha Roger’s theory of Unitary Human Beings, which holds that â€Å"patterning of persons in interaction with the environment is basic to the view that consciousness is a manifestation of an evolving pattern of person-environment interaction† (Newman, Gaines, and Snare, 2005). N ewman’s theory affirms that the universal process of expanding consciousness should encompass all types of people in every kind of situation regardless of their disabilities and hopelessness. Newman describes this process as that which makes one realize who they are and become one, helps a person to find some sense in living, and that which enables one to reach a new height of connectedness with the rest of the people and the world in general (Newman, 2008). Purpose of and Research Methodology Analysis of a concept is usually to provide the reader with a clear understanding and a detailed description of the concept in question, in this case, pattern recognition (Avant and Walker, 2005). This analysis can be done via implementation of a variety of analysis methodologies. However, this paper employs an analysis methodology developed and presented by Avant and Walker (2005). It identifies operational and theoretical definitions, definition of characteristics of the concepts, ide ntification of the antecedents and the consequences associated with the concept, examination or evaluation of cases in which the concept has been utilized and finally providing empirical referents to the concept. The Concept of Pattern Recognition According to Newman (2005), this concept makes a key component of the relational process of Health as Expanding Consciousness (HEC). In addition, Newman (2005) asserts that a series of visits unfolds the uniqueness of health patterning. Here, a special attention is paid to the development of whatever is required to be the outcome of the relationship that emerges between the nursing practitioner and the patient or client. Identification of patterns occurs in stages via the process of praxis rather than the whole process occurring once (Newman, 2005). Currently, the pattern of life of every person contains past information and probabilities of future occurrences. When a client decides to visit a nurse, it is obviously because things have sli ghtly or extremely changed from the usual and thus he or she requires an alternative regarding the client’s situation. The relating process of the clinician and the patient or client is a key facilitator to understanding of the patterns of a person. According to Newman (2005) the goals of pattern recognition include: Helping the client see and understand the current patterns Helping the client

Developmental Stages Matrix Essay Example for Free

Developmental Stages Matrix Essay Physical growth is at the fastest rate during infancy. Young infants learn to roll over, sit up, crawl, and walk within 12 to 15 months of birth. Uses the Sensorimotor stage of development. The infant uses sensory and motor contact to explore and understand the world around them. During infancy is when a child develops the bond with his or her guardian. An infant will learn who the guardian is and feel emotional attachment when their guardians are present or absent. Early Childhood Children continue to develop motor skills during early childhood. Things like stacking blocks, walking without help, and Push or pull things begin to develop during the early childhood stage. Uses the Preoperational stage of development. The child is able to use words and images to convey the world around them. They are still not able to assign logic to events that occur around them. This is the stage when most children become socially interactive with other people. This is when the child will begin to explore the world around them and either feel a sense of excitement or fear. Middle Childhood This is the stage of increased growth. The child sees the most physical growth during this stage. Uses the Concrete Operational Stage of development. The child is able to think logically and assign logic to situations or events. During this stage the child begins to develop a minimal sense of independence. The child can go off on his or her own to school or out to play without feeling a sense of anxiety from separation of  the parents. This stage is when the child begins to form bonds outside of the immediate household.

Cuba, Spain, and the Road to Independence :: essays research papers

Cuba, Spain, and the Road to Independence During the Little War, fought for the independence of Cuba, Spain used propaganda to cast that the war was not a struggle for national independence but one for black supremacy. Spain manipulated the idea of a national war, with the objective to fight colonialism, into a race war with the objective of blacks uprising against whites. Cuban independence activists, therefore, campaigned diligently—mainly through writing—to negate Spain’s representations. Writings of the Ten Years War were conceived as lessons or guidelines to help pave way to a new revolution. Writings also helped reevaluate the image of the black insurgent into one that was more heroic and less threatening than that of the image depicted by Spain. Like their white counterparts, writers of color were critical in constructing these representations, but theirs were more active for black citizenship and therefore, differed from the portrayals of the passive insurgent created by white intellectuals. What ever the difference in representation however, the writings of the harmless black insurgent as well as the nation’s struggle for independence, where blacks fought alongside with whites in union, invalidated Spain’s arguments about the racial dangers of rebellion and the impossibility of Cuban nationhood. Essays and memoirs of the Ten Years War were written by authors who saw their works as writings for a new generation of Cubans. They sought to motivate patriotism with stories of courageousness, and achieve new successes through the telling of past mistakes and failures. They wanted to depict the first war in a way that would inspire activists to prepare for the next one, and by doing so, writings of the old war became a medium in which the course of a new revolt would be influenced. Writing then became more then just words on paper; it became a weapon that was fundamental to the strategy of insurgency (115). Spain, in an attempt to suppress insurgency, was spreading the propaganda that if Cuba revolted, its colored supporters would transform the struggle for an independent republic into a racial domination by blacks. Therefore a strategy was needed to reevaluate the black insurgent who was depicted by Spain as the leader of the dreaded race war and the black republic. Through reexamination, separatist writers were able to neutralize that figure into an acceptable component in the making of the Cuban nation. One transformation is of a slave named Ramon, who went from being the cause of the death of Carlos Cepedes’, the leader of the first insurrection, to a faithful and trustworthy servant.

Aristotle Versus Plato

THE CONCEPT OF IMITATION IN PLATO AND ARISTOTLE Abstract Plato and Aristotle argue that artist (Demiurge) and poet imitate nature, thus, a work of art is a reflection of nature. However, they have different views on the functions of imitation in art and literature. Plato believes in the existence of the ideal world, where exists a real form of every object found in nature. A work of art –which reflects nature is twice far from the reality it represents. Aristotle, on the other hand, does not deal with the ideal world, instead he analyses nature. He argues that a work of art does not imitate nature as it is, but as it should be.In this sense, an artist does not violate the truth but reflects the reality. Key Words: Imitation, art, literature, mimesis, etymology, ethic. Introduction Plato and Aristotle attribute different meanings to the term ‘mimesis’; Plato considers ‘mimesis’ in ethical and political context, Aristotle uses ‘mimesis’ as an aesthetic phenomenon. They both agree that poetry is mimetic but they have different idea about poetry and ‘mimesis’. The present paper aims first to define ‘mimesis’ and explain the historical and linguistic background of the term, then to analyze the concept of ‘mimesis’ in Plato and Aristotle.In literature the word ‘mimesis’ has two diverse applications; it is used â€Å"to define the nature of literature and other arts and to indicate the relation of one literary work, which serves as a model. † Plato and Aristotle take ‘mimesis’ to define the nature of art, yet they ascribe different meanings and value to it. Plato and Aristotle consider the historical and etymological background of the term, therefore, it is necessary to know about the linguistic and historical background of the term ‘mimesis’ to understand what kinds of meaning and value they attribute to the concept.Linguistically, the ro ot word is ‘mimos’; mimesthia, mimesis, mimetes, mimetikos, and mimema are derived from ‘mimos’. Mimesthia denotes imitation, representation or portrayal; mimos and mimetes designate the person who imitates or represents, whereby ‘mimos’ originally refers to the recitation or dramatic performance in the context of dramatic action. The mime, which is a kind of banquets given by wealthy man, is most probably derived from mimos The noun ‘mimesis’ as well as corresponding verb mimeisthai refer to the re-enactment and dance through itual and myth. In Athenian drama the re-enactment is equivalent to acting out the role of a mythical figure and ‘mimesis’ in such a context connotes the imitation of the earlier re-enactment of the myth and rituals. Historically, the word ‘mimesis’ as re-enactment first appears in such rituals, and the historical origin of the term, as located in Dionysian cult drama, coincides this meaning in that ‘mimesis’ in both cases refers to imitation, representation and expression.It is argued that myth, and divine symbols of the rituals are transformed to artistic-dramatic representation through which it became possible to represent the divinity and gods in drama. Tragedy, for instance is the transformation of the myth and rituals. In a different context ‘mimesis’ may refer to identification. People identify themselves by means of their mimetic ability when they see themselves in the other and perceive a state of mutual equality. In this sense, ‘mimesis’ is distinct from mimicry, which implies only a physical, and no mental relation.That is, a person regards the ‘Other’ as equal and assumes the ‘Other’ to be doing the same in reverse. Associated with the physical aspect of ‘mimesis’ is its performative aspect, as an actualization, a presentation of what has been mimetically indicated. Thus, the term ‘mimesis’ is combined with an action-oriented speaking. The term ‘mimesis’ may also refer the simile, similarity and representation; it may refer to the symbolization of the world when we take it as a transformation of myth. Mimesis’ has also been cited since classical times in the exploration of relationships between art and reality. The meanings and applications of the term changes according to the context it is used. Therefore, Plato and Aristotle ascribes different meanings and value to ‘mimesis’ with respect to the contexts they use it. The Concept of Imitation in Plato takes the term ‘mimesis’ with several meanings and connotations in the dialogues and alters the meaning of the term according to the context in which he uses it.He uses ‘mimesis’ in the context of the education of the youth; he discusses the function of ‘mimesis’ as likening oneself to another in speech and bodily behav iour and as addressing the lower part of man’s soul; he also refers to the epistemology and metaphysics of the concept. He takes the word ‘mimesis’ with pedagogic attributes and uses it in educational and ethical context when he says ‘guardians of an ideal state should be educated to imitate only what is appropriate’.In the third book of the Republic, for instance, Plato provides further definitions of ‘mimesis’, centering on the relation between ‘mimesis’ and poetry, ‘mimesis’ and education and also poetry and education. ‘Since young people learn essentially through imitation, it is significant to select the models’. ‘Mimesis suggests unfavourable effect on the part of the young people’ and ‘poetry is one important source of the youth’s experience with examples and models’; therefore, if the world of models and examples ought to be controlled in the interest of educ ation, poetry must be likewise subject to control.Plato argues the case in the Republic as follow: The youth cannot distinguish what is allegorical from what is not, and the belief they acquire at the age are hard to expunge and usually remain unchanged. That is important that the first stories they hear should be well told and dispose them to virtue. The contents, forms, and representational modes of poetry play an important ethical role in the education of guardians and should, because of the effects they exercise through mimetic process, be based on ethical principles.Young people should only imitate brave, sober, pious and noble men, which will increase their strength and will not infect them with weakness. In this sense, it is argued in the Republic that tragedy and comedy, as mimetic poetry, represent injustice among the gods in the assertion that gods are responsible for unhappiness among people. In the Platonic conception, gods cannot be evil; heroes cannot be weak. The poet ’s representation violates the truth and by representing the deficiencies of gods and heroes, has negative effect on the community and the education of youth.Mimetic poetry not only misrepresents gods and heroes and leads young people to immoral behaviours but also appeals to and strengthens the lower, desiring part of the soul. According to Plato, poetry encourages short-term indulgence in our emotions when reason would forbid their gratification because it is useless or harmful for the citizen who considers life as a whole. ‘Reason is a capacity that enables moral quality and authorities.Poetry is intuitive and stirs up a part of a citizen that ought to be kept quiet and fosters the lower part of the soul against the rule of higher part, reason’ Poetry becomes a dangerous rival to morality, which ‘is able to corrupt even good man and is a very dangerous thing encouraging all the lower desires and making them hard to cope with suffering in the theatre, and taking pleasure in laughing at comedies tends to affect our attitudes in real life and make us cynical and unserious.Sex, anger, and all desires, pleasure and pains are fostered by poetic imitation, thus, Homer and tragic poets are not true example for a citizen’. Poetry, then, taking its theme as human emotion and human frailty, threatens to disturb the balance and rational disposition of the individual for the individual, by way of his mimetic abilities, is infected through poetry. Philosophy provides wisdom and truth in the education but poetry has a potential capacity to demoralize mind.For example, Homer’s poetry was drawn on for educational purposes as a collection of knowledge and wisdom and enter in to competition with philosophy, it should therefore, be censored. It is obvious that poetry endangers the ideal citizens who can control and manage their feelings and remain reasonable, thus should be censored. While being an aspect of misrepresentation and somethi ng used in a dangerous way for the education of young people, ‘mimesis' may also come to mean re-enactment in Plato’s dialogue when it refers to the imitation of a man in action in drama.In the Republic, Plato uses the term to refer to the behaviour of the philosopher: â€Å"As he looks upon and contemplates things that are ordered and ever the same, that do no wrong, are not wronged by, each other, being all in rational order. He imitates them and tries to become like them as he can† A similar process occurs in tragedy, which is the artistic and dramatic re-enactment of ritual and myth and transformation of religion. Through tragedy it becomes possible for a man to represent the divinity and gods.For instance, the re-enactment, in Athenian drama, is equivalent to acting out the role of a mythical figure. ‘Mimesis’, in such a context, designates the imitation of earlier re-enactment, the instances of which is taken from myth and rituals. The nature o f ritual is spiritual and pleasing and such primitive rituals serve communal interests, in that each member of community gets rid of self. A tragic play may lead to self alienation; and may lead to identification with the fallen character and with the hero. The process of re-enactment, then, leads one to enter into another’s feelings and suffering.Plato insists that no one of truly noble character could suffer as a tragic hero does, since one whose soul is in a state of harmony is not to be influenced and hurt. Therefore, he objects to the re-enactment of ritual. Mimetic behaviour should be avoided because it may lead to identification with fallen characters and with the hero. Plato in the Republic argues that ‘or have you not observed that imitations, if conditioned, settle down youth’s life, and turn into habits and become second nature in the body, the speech and the thought .Apart from this, people identify themselves by means of their mimetic ability when th ey see themselves in the other and perceive a state of mutual equality. In this sense ‘mimesis’ is distinct from mimicry, which implies only a physical and no mental, relation: a person regards the ‘Other’ as equal and assumes the ‘Other ‘ to be doing the same in reverse. In this respect, a person who imitates is doomed to self-sacrifice and lack of self-identity.Moreover, the process of mimetic identification becomes a source of pleasure in the form of tragedy, which correspondingly frames the myth or re-enacts to substitute the myth in the form of dramatic representation. In the seventh book of the Republic, which is about law, he states ‘we are ourselves authors of tragedy, and that the finest and the best we know how to make’. In fact, our whole polity has been constructed as a dramatization (mimetic) of noble and perfect life; that is what we hold to be truth in the most of real tragedies’. However, in art, ‘mimesi s’ has a different function.Aesthetically, ‘mimesis’ refers to misrepresentation. Reality and truth can only be understood through reason. The artist works with inspiration and imagination: the two faculties don’t give us the true image of reality, and the end of tragedy is a partial loss of moral identity. On the one hand, there is ‘mimesis’ as a re-enactment of Dionysian rituals in the form of tragedy which leads to self-sacrifice and wrong identity and which addresses the lower part of the soul and corrupts the ethical development of the youth. On the other hand, there is ‘mimesis’ as an imitative, imperfect image of reality.In a sense, Plato’s resistance to ‘mimesis’ is not only due to the fact that tragedy (mimetic art) may lead the audiences back to the ritual and irrational mode of primitive society but also due to the fact that mimetic art is an imitation of objects (eidon), which are imitations themsel ves. He objects to ‘mimesis’ for the fact there is no relationship between what is imitated and what is real. ‘Mimesis’ designates the ability to create expression and representation on the part of poet, painter and actor, both in a general and specific sense.For example, the painter produces a relationship between an image he created and the object. If the relationship consists in the production of similarity, then, there arises a question of where the similarity between image and object lies. If the images he creates don’t make a reference to reality and real object, and if the relationship between object and image is on the level of similarity created by the poet through art, then, there appears a lack of link between true and false. But in Plato’s philosophy the relationship between objects and reality does not consist of likeness or similarity.According to Plato, Demiurge creates the idea and by beholding the idea Demiurge produces the ob ject; his ability is exalted in the imitation of the Idea. The poet, on the other hand, creates the images neither by seeing the idea nor from more substantive knowledge of the object since he produces nothing but phenomena by holding up a mirror. In this sense, the artist produces appearance and his work cannot provide us with true insight. Then, when a poet writes about the bed, for instance, it is not a bed manufactured by the craftsman from the idea nor does it have any relation to the real bed; it is only simulation and phenomena.There is also a difference between the knowledge of the poet and the knowledge of the craftsman. Man makes things and makes images. The craftsman makes the things following the original copy or model; the poet follows the image of the model or copy; therefore he gives only a proportion of reality. The proportion of knowledge and opinion, truth and falsity plays a contrasting role in distinguishing imitation as proportion of being to appearance. Plato a rgues that to understand the image, one needs to know the reality and the path to reality is in philosophy and reason, not in poetry and emotion.Although Plato admits that every object in nature is a reflection of the Idea, he doesn’t object to the reflection of object in nature. Plato uses mirror and water as constant metaphors to clarify the relationship between reality and the reflection of eidon. Plato argues that the poet holds up mirror to nature and in his work we see the reflection of nature not reality. He objects to the reflection of objects in the mirror, since things are divided into two parts: visible and intelligible. The first of the visible things is the class of copies, which includes shadows and reflections in the mirror.The second class of visible things is that of which the previous is a likeliness or copy. Plato objects to the reflection of object in the mirror, since mirror (poet) imprisons and limits the image. And he also objects to the imitation, sinc e the poet imitates without knowledge. Therefore, it is not its imitative character but its lack of truth and knowledge, which brings poetry to its low estate. Homer and all the poetic tribe are imitators of images of virtue and other things but they do not rely on truth. Poetry, after all, is a madness that seizes the soul when it contemplates in true knowledge of goods.Plato’s objection to ‘mimesis’ may also interpreted as a reaction to the sophistic thinking that aims to produce images that the listener will regard as real, all of which take place in the world of phenomena. Image, thought, and opinion combine into a world of appearance characterized by nonbeing, a phenomenal nature and similarity. And as long as illusion and reality are not distinguished, science, ignorance, and appearance merge together. Within the concept of ‘mimesis’, then, Plato creates an independent sphere of the aesthetic consisting of appearance, image and illusion and exc ludes it from the domain of philosophy.He insists that there are no phenomena without being, no images without reality, no ‘mimesis’ without a model. Yet reality and idea cannot be represented without knowledge and images are not part of reality. Plato, in the Republic, in Ion, and in Symposium uses the concept of ‘mimesis’ with several meanings. He refers to the education of the young in Book X of the Republic; in Ion he develops a metaphysical discourse on the concept of imitation, and in Book III of the Republic he objects to imitation because ‘mimesis’addresses and strengthens the lower part of the spirit.Plato refers to ethical aspects of ‘mimesis’ whenever he refers to the concept of imitation. That is, ‘mimesis’ is an ethical matter in Plato’s dialogues. He is not interested in the aesthetic aspect of ‘mimesis’; therefore, he does not pay attention to the form and matter of ‘mimesisâ₠¬â„¢and art. Plato deals with the value of ‘mimesis’. Aristotle is the first to deal with ‘mimesis’ as a theory of art. He dwells on the concept of ‘mimesis’ as an aesthetic theory of art and ‘considers imitation in terms of the form in which it is embodied’.By imitation, ‘he means something like representation’ through which ‘mimesis’ becomes the equivalent of artistic and aesthetic enterprise’. Unlike Plato, Aristotle also argues that ‘mimesis’ is not morally destructive since reason controls art. II. The Concept of Imitation in Aristotle Aristotle states that all human actions are mimetic and that men learn through imitation. In particular, ‘mimesis’ is the distinguishing quality of an artist. He argues that ‘public classifies all those who write in meter as poets and completely misses the point that the capacity to produce an imitation is the essential quality of the poet’.The poet is distinguished from the rest of mankind with the ‘essential ability to produce imitation’. A poet may imitate in one of three styles in poetry; he may use pure narrative, in which he speaks in his own person without imitation, as in the dithyrambs, or he may use mimetic narrative and speaks in the person of his characters, as in comedy and tragedy. A poet may use mixed narrative, in which he speaks now in his own person and now in the person of his character, as in epic poetry. Mimetic poetry may also differ according to the object of imitation.In this respect, tragedy differs from comedy in that it makes its characters better rather than worse. ‘Mimesis’, particularly, becomes a central term when Aristotle discusses the nature and function of art. In the Poetics, he defines tragedy as: ‘as an imitation of human action that is serious, complete and of a certain magnitude; in language embellished with every kind of artistic ornament, the various kinds being found in different parts of the play; it represents man in action rather than using narrative, through pity and fear effecting the proper purgation of these emotion’.Aristotle is interested in the form of imitation and goes on to consider plot, character, diction, thought, spectacle and song as constituting elements of a typical tragedy. The action of plot must be complete in itself with a proper beginning, middle and an end. All parts of action must be equally essential to the whole. Each part of the tragedy is imitation itself. Character in tragedy imitates the action of noble man who has to be a man of some social standing and personal reputation, but he has to be presented us in terms of his weaknesses because it is his weakness that will make his fall believable.Aristotle thinks that all types of art are mimetic but each may differ in the manner, means, and object of imitation. Music imitates in sound and rhythm, painting in color and po etry in action and word. Aristotle’s ‘mimesis’ does not refer to the imitation of Idea and appearances, like that of Plato. He argues that each area of knowledge is imitation in the sense that as a human being we all learn through imitation. However, he carefully makes a distinction between different kinds of knowledge.For instance, he claims that art and philosophy deal with different kind of truth; philosophy deals with concrete and absolute truth, whereas art deals with aesthetic and universal truth. The difference, for instance, between mimetic poetry and history is stated as ‘one writes about what has actually happened, while the other deals with what might happen’. Art, unlike science, doesn’t abstract universal form but imitates the form of individual things and unites the separate parts presenting what is universal and particular.Therefore, the function of poetry is not to portray what has happened but to portray what may have happened in accord with the principle of probability and necessity. Since poetry deals with universal truth, history considers only particular facts; poetry is more philosophical and deserves more serious attention. In addition, aesthetic representation of reality is not technical, factual, philosophical, and historical. Aristotle compares aesthetic process (mimesis) with the process that takes place in nature.While nature moves through internal principles, art moves through organic principles like plot, action, characters, diction, and there is a unity among them. In a sense, art imitates nature and the deficiencies of nature are supplemented in the process of imitation, and art follows the same method, as nature would have employed. Thus, ‘if a house were natural product, it would pass through the same stages that in fact it passes through when it is produced by art, they would move along the same lines the natural process actually takes’. Poets, like nature, are capable of c reating matter and form.The origin of nature is nature itself and the origin of art is the artist and the defining characteristic of the artist is the ability to create, through imitation, as nature does. The artist constructs the plot as an organizing principle, character constitutes the relation and carries on the action and style gives pleasure. For instance, the plot of tragedy and Dionysian rituals display similar organization. The rituals begin with the spring, which is a striking and beautiful time of the year, and they represent the strength of gods and nature upon primitive society.Tragedy, like the image of spring, has a striking and fascinating beginning and, like ritual, a tragic play pervades and shapes the feelings of the audiences. Dionysian ritual is a sacrifice of human being for gods and nature in the hope for a better and peaceful beginning. Similarly, the tragic hero is symbolically sacrificed after which there appears a peace. Then, the poet takes tragedy, as a mimetic representation of myth, from the natural course of an event that takes place in nature and reorganizes it.In this sense, ‘mimesis’ designates the imitation and the manner in which, as in nature, creation takes place. Mimesis, as Aristotle takes it, is an active aesthetic process. He argues that ‘imitation is given us by nature and men are endowed with these gifts, gradually develop them and finally create the art of poetry’. The poet does not imitate reality but brings reality into existence through ‘mimesis’. The poet recreates and reorganizes already known facts and presents them in a fresh and attractive way; therefore, though audiences know the story of Sophocles’ Oedipus, they go and watch it.The reality as presented to us through ‘mimesis’ is superior and universal not only because we are pleased to learn through imitation but also because such reality is better. Homer, for instance, depicts Achilles not only a s a bad character but also depicts his goodness. Mimesis is thus copying and changing. The poet creates something that previously did not exist and for which there are no available models. Even in dealing with historical materials, the poet needs to fashion it in accord with his art rising to a higher level than is found in reality.Art is fictitious but the mimetic and aesthetic nature of art pervades the fictitious deviation and a work of art forces the thing to appear as something more beautiful and better than that nature and human being posses in common, ‘for it is always writer’s duty to make world better’. It can be argued that Aristotle defines and argues about art with respect to ‘mimesis’, and the concept of imitation in Aristotle is an aesthetic matter. Mimesis is not only ‘origin of art but also a distinguishing quality of man, since imitation is natural to mankind from childhood on’; in addition ‘all men find pleasure i n imitation’.He claims that there are ‘things that distress us when we see them in reality, but the most accurate representation of these same things we view with pleasure. In this sense, catharsis is not a moral and psychological matter but a natural end of the aesthetic act as Salkaver discusses below: Fear and pity are dangerous emotions: painful and troubled feelings arise from the imagination of an imminent evil and cause destruction and pain. Pity, in particular, is a kind of pain upon seeing deadly or painful evil happening to one who does not deserve.However, in the representation of such feelings one feels empathy and gets rid of them. So, a work of art gives a man an opportunity to get rid of painful and troubled feelings arising from the imagination of an imminent evil that may cause destruction and pain on the part of the citizen. Aristotle develops a consistent theory of art upon the concept of imitation. He begins saying that all human actions are imitatio n, then, he focuses on poetry and other areas of studies like history and philosophy. Lastly, he dwells on the poet and the concept of imitation as taken and practiced by playwrights.All his arguments upon ‘mimesis’ are, both in general and in specific sense, have aesthetics quality, since he does not take imitation as social, moral or political phenomena but as an activity of the artist. CONCLUSION Plato’s main concern is with the public recitation of dramatic and epic poetry and in Plato there is emulation between philosophy and poetry. The poet influences the character of the young in every way and has corruptive impact upon the education of the young mind. In addition, poets don’t have a true knowledge of the things.Plato suggests that the emotional appeal is a threat to reason, that mimetic art is remote from reality, that the poet is not serious and knows nothing about poetry and cannot give satisfactory information about his art. It is obvious that he resists the concept of imitation in the case of poetic composition. Tragedy, in particular, and poetry, in general are concerned with pleasure rather than instruction and since it is not possible to imitate a wise and quiet person in the play, since such a person does not fit the content of tragedy, ‘mimesis’ is ethically distracting.Therefore, the function of various discussions of mimetic art in the Republic is ethical: wherever he mentions art he discusses it in relation to education and ethics. Although Aristotle agrees with Plato that poetry has the power to stimulate emotions, he does not pay much attention to the ethical and epistemological aspects of ‘mimesis’. Yet he dwells on the pleasure that men take in learning and argues that tragedy discharges the feelings and spectators leave the play in a state of calm, free of passions.He does not restrict art and poetry and the concept of ‘mimesis’. Aristotle’s ‘mimesisâ€℠¢ is defined by mythos and praxis’, which brings the concept close to areas of time and action- in contrast to Platonic ‘mimesis’, which is closer to image, imagination and imitation. He argues that tragedy is the imitation (mimesis) of a man in action. Aristotle’s ‘mimesis’ is active and creative; and he gives a dynamic character to ‘mimesis’ by introducing mythos and praxis, thus, defines art as ‘mimesis’ and the artist as character.Plato worries about the moral effect of poetry, while Aristotle strikes to psychology and returns repeatedly to shuddering terror (phobos) and pity (eleos) that the tragedy is creating in the spectator, who therefore repeats or imitates what has already taken place on stage. Plato argues that there is a duality between art (mimesis and narrative art) and ethics. The more poetic the poems are the less suited are they to the ears of men. Artistically, the better the comedy is, the worst it is, since the more attractive and perfect the comedy is the more disastrous its effects are.For instance, Homer, in the â€Å"Iliad† tells us or narrates the story of cypresses, as he was himself a cypress. He tells the story as far as it makes the audience feel that not Homer is the speaker, but the priest, an old man. This manner of representation (impersonation), according to Plato, leads to the loss-of-self or transformation of identity and becomes a matter of moral destruction. Aristotle takes the same activity of impersonation in a different way.He praises Homer for not telling excessively in his own voice since, after a few words he immediately brings on stage a man or woman or some other characters that represent the action with larger perspective. As a conclusion, ‘mimesis’ has since the antiquity been discussed to refer to the relation between reality and representation. The nature of discussion upon the concept of ‘mimesis’ as a theory of art changes according to the person who discusses the term and the way he deals with the term.Auerbach, for instance, distinguishes the reality and ‘mimesis’ in literature with respect to the narrative techniques and argues that Homeric epic is not mimetic but realistic since; narration of the tales comprehends every detail and leaves no space for interpretation. Plato, on the other hand, agrees that reality cannot be represented; therefore, ‘mimesis’ is misrepresentation of truth. Aristotle becomes the defender of ‘mimesis’ against Plato and develops a theory of art with reference to ‘mimesis' and claims that art (mimetic art) is superior to philosophy and histpry.