Oil Prices And Stock Market In Emerging Markets Finance Essay - Free Essay Example

Sample details Pages: 4 Words: 1150 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Investors and business analysts usually think oil prices influence stock market performances, yet few studies have shown the impact of oil price volatility on stock markets in emerging markets. To study the relationship between oil price volatility and stock market performance in the emerging markets is rather essential in that the financial markets in those countries are developing quickly and getting more integrated into global financial markets. This paper examines monthly data of oil prices and stock market indices, and conducts tests on covariance and correlation on the two variables. Don’t waste time! Our writers will create an original "Oil Prices And Stock Market In Emerging Markets Finance Essay" essay for you Create order Based on statistical inference, qualitative and quantitative analyses are derived on the extent to which the oil prices affect stock markets and how sensitive the stock markets are to oil price volatility. Introduction It is important to understand the relationship between energy markets and financial markets as it provides a good indicator of macro economy and the well-being of financial markets. Energy prices such as oil price, coal price, and propane price affect other commodity prices, which influence transportation costs, heating costs, and ultimately the stock market performance in general. In other words, to what extend does the oil price volatility affect the stock market is of great importance. Though conventionally, people associate higher oil prices with poor stock market performance or even economic crisis, it is necessary to employ empirical evidence to demonstrate such relationship. Given that the stock market capitalization in the emerging countries has grown ten-fold and the market share in capitalization has grown two-fold in the last decade (Chittedi, 2009), this paper proposes a study to examine the oil price volatility and stock market performance in the BRIC countries, nam ely, Brazil, Russia, India, and China. For emerging markets, such as Brazil, India, Russia, and China, it is rather important to emphasize the role of energy, especially oil in developing their economies. In other words, it is meaningful to examine the financial markets in developing countries that depend heavily on oil. In developing countries, higher oil price could jack up commodity prices which might cause inflation and unemployment (IMF, 2010). Specifically, this project includes collecting data on oil prices and indices for stock market performance in the emerging markets, and derives the covariance coefficients and correlation coefficients of oil prices and stock market indices. Based on statistical results, it is straightforward to conclude which markets are the most sensitive to oil price changes and to what extend does oil price affect the stock market. Furthermore, this projects looks into which industries/sectors in those economies are most susceptible to oil price vo latility; in other words, the project sheds light on portfolio diversification for risk-averse investors who are interested in emerging markets. Literature Review Traditionally, most businesses think higher oil price increase leads to higher commodity prices which in turn drive stock markets indices such as SP 500 index down. Nevertheless, not all stocks are affected equally; consumer discretionary stocks tend to perform better than the average whereas energy stocks usually perform poorly (Alpha, 2008). Some studies look at the relationship between stock market indices and various macroeconomic variables, such as inflation rate, exchange rate, and employment rate (Muradoglu et al, 2000). Using indices for international stock markets and world oil prices, Agren (2006) discovered a covariance between oil price volatility and average stock market returns in four developed countries. In emerging markets, Gay(2008) has shown that there was significant impact of oil prices and exchange rates on stock market returns in 13 countries. Spivak (2010) has discovered that the correlation coefficient between the oil prices and the MSCI World Stock i ndex is about 0.87, which translates into a moderately strong impact of oil price volatility. In addition, evidence from 1997 Asian financial crisis indicates that oil price volatility played a big role in causing the market failure or even political stability (Nandha Hammoudeh, 2007). In the last decade, the BRIC countries experienced great transformation in stock markets, mostly taking market liberalization measures to streamline the transaction process and join with developed markets (Chittedi, 2009). In other words, significant structural changes are taking place or have taken place in the financial markets of those countries. Methodology While some studies use regression analysis on stock market indices and oil prices, this project employs covariance and correlation tests across the years in order to investigate the relationship between the two variables. The analysis strives to answer research questions such as to what extent is the stock market affected by the energy prices in the BRIC countries. Among the BRIC countries, which countries exhibit the greatest influence by oil prices? Given the oil prices is globally intertwined, knowing this relationships can provide some insight into understanding the oil price and economy in a global context. To answer those questions, the study examines monthly stock market indices in the BRIC countries and oil price indicators in those countries. Those data is available on Organization for Economic Cooperation and Development website. The time frame is between June 1998 and June 2008. Covariance and correlation both show whether variables are positively or negatively rel ated, though correlation provides the extent to which the variables move together. Covariance indicates how two variables are related. Covariance determines the extent to which two variables move together and the magnitude of those movements (Grossman Livingstone, 2009). Analysis and Conclusion By graphing some selected data in scatterplot in SPSS, it is straightforward to see the directions of movement of the two variables in the BRIC countries. Based on this relationship, conclusion can be made with regard to which country is most sensitive to oil price volatility. Furthermore, one can infer from this evidence some policy implications in those countries. For example, questions such as does the local financial market fully integrated with international market or how the government should do in term of opening up and restructuring local financial markets. Statistical results from covariance tests illustrate how much the oil price and stock market performance change together. The linear dependence between two variables implies the direction of the movements and the degree of the movements. For example, a negative covariance between oil price and stock market index suggest that the oil price moves in the opposite direction of stock market index. Depending on the numerica l value of the covariance, it is possible to compare the intensity of those relationships. A zero covariance shows there is no linear relationship between oil price and stock market. Correlation test results specify whether and how strong the two variables are related (Grossman Livingstone, 2009). A correlation coefficient between -1 and 1 will be generated. The square of the correlation coefficient shows the fraction of the variation in oil price indices that is correlated to stock market indices. For instance, a correlation coefficient of +0.3 means that the oil price and stock markets move in the same direction, and 9% of the variations are related. On contrary, a correlation coefficient of -0.75 implies higher oil price is correlated with lower stock market performance, and 59.25% of the variations are related.

Jane Austen s Pride And Prejudice - 1678 Words

During the Victorian era, expectations of a demanding society were high in regards to finding a prestigious mate of good wealth and social status. The primary goal for woman from this era was marriage. After reading Jane Austen’s most popular piece of work, the effects of the high societal expectations can be acknowledged through viewing the lives of the Bennet family and friends and noting such effects. Through the examination of the characters in Pride and Prejudice it is easily deciphered between marriages based upon true love and marriage based upon the expectations of society. Society’s main goal for woman in the Victorian era was marriage. As seen many in Pride and Prejudice, marriage was the only option for most woman in the Victorian era. Since men inherited a family’s wealth, it was of upmost importance for woman, such as the Bennet sisters, to elope in order to be financially stable. A woman’s accepted career in the era was marriage (Thomas, 2014). Due to society’s aversion on allowing woman to make an income, the dependence on a man’s income was necessary. â€Å"Barred by law and custom from entering trades and professions by which they could support themselves, and restricted in the possession of property, woman had only one means of livelihood, that of marriage† (Kent, 1999, p. 86). The two main objectives most woman were in search of in a mate was wealth and social status, for this reason. Social status was a strictly enforced part of society and marriage gaveShow MoreRelatedJane Austen s Pride And Prejudice1231 Words   |  5 Pagesfinancial stability. In the novel Pride and Prejudice, Jane Austen states that the desire for better social connections interferes with the workings of love through the relationship between Darcy and Elizabeth to criticize the social class structure of the 19th century. Anxieties about social connections or the desire for better social connections, interfere with the workings of love. Darcy and Elizabeth s realization of a mutual and tender love seems to imply that Jane Austen views love as something independentRead MoreJane Austen s Pride And Prejudice1294 Words   |  6 PagesJane Austen s exceptional novel Pride and Prejudice has been depicted as a classic that is as much a social study on class, marriage and gender as it is a romantic tale. It is an amusing representation of the social atmosphere of the late eighteenth and mid nineteenth century England, and it is primarily required with courtship rituals of the English high class. The novel is more than a romantic tale, however through Austen s subtle, and ironic style, it addresses gender, class, and marriageRead MoreJane Austen s Pride And Prejudice992 Words   |  4 Pages It is unfortunate that many people tend to dismiss Jane Austen’s novel, Pride and Prejudice, as simply a roman tic love story, even labeling it a â€Å"chick flick.† Upon a shallow reading, it may appear to be such, but a closer look at the novel reveals so much more embedded in the story. In addition to describing the entertaining relationship between Elizabeth and Mr. Darcy, the novel serves to forward Austen s personal values and ideas. Furthermore, there is one issue of her era that she particularlyRead MoreJane Austen s Pride And Prejudice1138 Words   |  5 PagesPride and Prejudice is a novel about the superficiality of marriage during the late 19th and early 20th century, which largely influenced the decisions made by individuals, based on connections and social rankings. The novel takes its characters through various changes influenced by their decision to or rather not to marry certain individuals. It begins not by a man desiring to marry for love, but by a mother who desires nothing more than to marry her daughters well. As the novel develops, Jane AustenRead MoreJane A usten s Pride And Prejudice1211 Words   |  5 PagesJane Austen’s Pride and Prejudice was greatly influenced by the time period in which it was written, This novel follows the story of Elizabeth Bennet and her sisters as they are faced with marriage proposals. The marriage and roles of women in this time period are shown throughout this story. During the time Austen was writing this novel, a woman’s role for her family changed. Daughters started to become a way for their family to achieve more money. Because their family depended on this financialRead MoreJane Austen s Pride And Prejudice1675 Words   |  7 PagesIn Jane Austen’s Pride and Prejudice, she has specific criteria that her characters follow when choosing their mates. In today’s society, most couples still follow these criteria and more when choosing their ideal mate. What are these important criteria that Austen’s characters consider when choosing a mate? For Austen, the important cr iteria that she has for choosing a mate are that couples are personally compatible, they are in love with each other, and they must have a good moral character. Read MoreJane Austen s Pride And Prejudice1434 Words   |  6 PagesJane Austen’s Pride and Prejudice was considered a radical novel back in 1813 when she wrote and published the piece. It is a social commentary on the treatment and societal standards of women, as well marriage expectations at the turn of the 19th century. Austen criticizes the patriarchal society, materialism, double standards of men and women by centering the book around Elizabeth Bennett, a young woman of decent means who does not understand the reason for the pressure to find a suitable husbandRead MoreJane Austen s Pride And Prejudice1468 Words   |  6 Pagesestablished over time. In Jane Austen s novel, Pride and Prejudice Elizabeth Bennet is the main character who is a lady in the Regency Era. Elizabeth lives in Longbourn with her parents, Mr and Mrs Bennet and her four sisters. In the beginning of the novel, Elizabeth s prejudice mindset and strong opinion blinds her from realizations happening arou nd her. Soon, Elizabeth s prejudice disappears allowing her to open up and fall in love. Throughout Jane Austen s novel, Pride and Prejudice, Elizabeth growsRead MoreJane Austen s Pride And Prejudice1649 Words   |  7 PagesIn her novel, Pride and Prejudice, Jane Austen is pre-occupied with the theme of marriage. Marriage is a central issue of a woman’s life but it was even more crucial for the women of her society where women were largely dependent on the men in their lives. As a result, women pursued socio-economic stability through marriage. However, it is clear through the novel that Austen did not agree with this part of her society. In Pride and Prejudice, she gives preference to a marriage which is based on loveRead MoreJane Austen s Pride And Prejudice1304 Words   |  6 Pages Introduction In Pride and Prejudice, Jane Austen portrays themes of love, class, reputation, and marriage. From the beginning it is seen that the question of marriage is very important to the Bennet family. Upon not marrying, the girls cousin Mr. Collins will inherit Longbourn due to the absence of a male heir. This means that the family will become destitute since they won t have any support or a place to live. The only solution for them would be marriage. During this era, since women

Siddhartha Climax Apotheosis and Ultimate Boon Free Essays

The climax of a novel or another literary work, such as a play, can be defined as the turning point at which the conflict begins to resolve itself for better or worse. The climax of Siddhartha occurs in the chapter entitled â€Å"By the River,† when Siddhartha hears the word Om while standing at the river as he considers drowning himself. This mystical sound heartens him, restoring his will to live. We will write a custom essay sample on Siddhartha Climax Apotheosis and Ultimate Boon or any similar topic only for you Order Now The moment represents a turning point that eventually leads to his achievement of nirvana. One day Siddhartha’s pain becomes too much and Siddhartha sets off in a desperate search of his son, but stops as he hears the river laughing at him. He looks into the river, sees his own father whom he had left, and turns back, concluding that â€Å"everything that was not suffered to the end and finally concluded, recurred, and the same sorrows were undergone†. Returning to his hut, Siddhartha tells Vasuveda all of this, but as he does, Siddhartha notices a remarkable change in the old man. After listening to Siddhartha, Vasuveda leads Siddhartha back to the river, telling him to listen deeply. At first Siddhartha hears only the voices of sorrow, but these voices are soon joined by voices of joy, and at last all the voices are under the great sound of â€Å"Om. Realizing the unity of these voices, Siddhartha’s pain fades away and â€Å"his Self had merged into unity†. He has at last found salvation. Recognizing his friend’s achievement, Vasuveda departs into the woods to die, thereby joining the unity he had helped Siddhartha find at last. Siddhartha realizes the unity of all things in the world whic h is the apotheosis of the novel. The ferryman is a guide for both the river and the path to enlightenment. The ferryman is positioned between ordinary world and enlightenment, and those who seek enlightenment and are open to guidance will find what they need within the ferryman. The ferryman, however, shows Siddhartha how to find enlightenment within himself. The first time Vasudeva meets Siddhartha, Siddhartha wants only to cross the river, and that is all Vasudeva helps him do. Vasudeva is not a teacher who will simply tell Siddhartha what he should know, but a guide who will lead him where he wishes to go. Years later, Siddhartha searches for knowledge from the river itself, and Vasudeva guides him in his attempts to hear what the river has to say. Siddhartha himself becomes a ferryman after he achieved his goal of attaining nirvana. How to cite Siddhartha Climax Apotheosis and Ultimate Boon, Papers

Critical Evaluation and Developmental Activities †MyAssignmenthelp

Question: Discuss about the Critical Evaluation and Developmental Activities. Answer: Introduction The current study is based on the critical evaluation of Aveo Retirement Villages dividend history in past 5 years, by considering the company's dividend policy and dividend level. On the basis of the analysis, recommendation on preferred policy and dividend level will be provided and an appropriate conclusion and reasoning will be briefed at the end. Aveo Group Limited is into the business of development, operation and management of retirement communities. There are various activities the Company is involved into but principally top in list are investment in retirement villages and their development and management; developmental activities for the purpose of used properties like resale of land as well as residential, commercial, retail and industrial property; it also makes investment in, and does management of real estate sectors income-producing retail, commercial and industrial property; building of commercial, industrial and residential nature and construction for the Company, and management of funds and asset (Annual report of Aveo Group, 2017). There are two segments through which the company operates, namely retirement and non-retirement real estate segments. Retirement segment develops and operates into retirement villages and specific aged care facilities so as to produce rental and other income. The other non-retirement segment develops the residential, commercial and retail property for public and is not segment specifically. Past 5 years dividend history of AVEO Group Limited Table 1: Aveos Dividend History Aveos Dividend History 2013 (in ) 2014 (in ) 2015 (in ) 2016 (in ) 2017 (in ) H F Result - 4 5 8 9 Final 1 - - - - Interim - - - - - Table 2 Aveos Dividend Yield Aveos Annual Dividend Yield 2015 2016 2017 Annual Dividend Yield (in %) 1.9 2.5 3.2 Aveos Annual Dividend ((in ) 5 8 9 Table 3 Aveos Return on Equity, Shareholders Return and Dividend Payout Ratio Aveos Group Limited Particulars 2013 2014 2015 2016 2017 Return on equity (in %) 4.2 8.8 5.3 Shareholders Return (in %) - - 27.7 26 -9.5 Payout Ratio (in %) - - - 29 50 From the Table 1 given above, it is clear that Aveo Group Limited has distributed the small sum of dividend in a period of last 5 years but in an increasing fashion. Therefore its dividend payout ratio is showing a rising trend from 29 to 50 in Figure 3. Also according to Table 2 given above, the Annual dividend is gradually rising in order from 5-8-9 and so is its dividend yield. That is a very systematic and planned way a company has distributed to its stakeholders in last few years in an increasing order satisfying the gut of an investor, which would mean that the company has not shown any disappointing performance. Critical evaluation of dividend history and earnings per share As per the statistics are given in Figure 1 and Figure 2, read with Figure 3 given above, the Company has consistently paid rising dividend since 2013. Also, the earning on the equity has risen from 2015. According to which it can be said that the company payout history is growing with payout ratio rising to nearly double from 2016. Although the shareholder's return shows a negative fall in 2017 but cannot be treated as a negative feedback in entirety. Year Securities price at year-end (in $) Profit after tax ($m) Price-earnings ratio 2013 1.27 39.2 9.3 2014 2.06 42.1 21.7 2015 2.58 54.7 23.7 2016 3.17 89 18.6 2017 2.78 108.4 14.7 Based on the statistics provided in the figure above, Aveos security prices, as well as the profit, earned after tax is showing an ascending order. This shows that the company is in its growth period and is well to do in order to attract and satisfy the investors intentions as that of a profitable stock (Aveo Group (AOG), 2017). The stock is recommendable to investors looking at it rising payout in addition to its profits, dividend and stock price over the period of 5 years. Conclusion Based on the dividend distributed and the dividend payout the company seems attractive and reasonably well to invest into looking at the real estate industry growth trends in mind. Since the company is systematically and in a planned manner gaining earnings for its investors, it is expected to do well in the foreseeable future (Renneboog and Szilagyi, 2015). Since the consistently rising profits is favourable, adopted policy by the company is viable. References Annual report of Aveo Group. 2017. Available through https://www.aveo.com.au/wp-content/uploads/2017/09/AVEO-2017-Annual-Report.pdf. [Accessed on 6th October 2017]. Aveo Group (AOG). 2017. [Online]. Available through https://www.investsmart.com.au/shares/asx-aog/aveo-group. [Accessed on 6th October 2017]. Renneboog, L. and Szilagyi, P.G., 2015. How relevant is dividend policy under low shareholder protection?.Journal of International Financial Markets, Institutions and Money.

The Black Death, the Late Medieval Demographic Crises, and the Standard of Living Controversies

Introduction Historical events are directly or indirectly responsible for the prevalent issues in the contemporary world. For instance, the aftermath of the Second World War is directly and indirectly responsible for the business and economic landscape that the world enjoys today.Advertising We will write a custom essay sample on The Black Death, the Late Medieval Demographic Crises, and the Standard of Living Controversies specifically for you for only $16.05 $11/page Learn More Similarly, occurrences such as the Black Death, the late medieval demographic crises, and the standard of living controversies that transpired in Europe many centuries ago have continued to influence Europe economically and socio-culturally. It may not be a simple task to pinpoint such influences in modern Europe, but traces of these ancient occurrences exist even to date. This essay explores these events (the Black Death, the late medieval demographic crises and the standard of living controversies) in a bid to gain a clear concept of their causal factors, incidence, and aftermath. The Black Death and other Medieval Demographic Crises The Black Death is a phrase that is commonly used to refer to a mid-fourteenth century pandemic that struck Europe and killed over one third of the population of the continent. Specifically, the adverse effects of the pandemic were severe between 1347 and 1348, which was a considerably high number of deaths to have been recorded out of a disease breakdown (Munro 8). Most literature on the Black Death tends to show consensus on the view that the pandemic was due to Bubonic Plague caused by Yersinia pestis, which is a bacterium that is associated with rodents (Cohn 719). Thus, according to some historians, rats played a major role in the spread of the plague from one location to another. The pandemic is at the center of numerous controversies. Some historians assert that it obtained its name the â€Å"Black Death† becau se its victims’ skins turned black apparently due to sub-dermal hemorrhages they suffered under the ravages of the plague (Cohn 722). Such claims make the name of the pandemic a moot point because another group of historians dispute the idea that the name originated from the discoloration of the victims’ skins, but it is instead a metaphorical expression used to allude to the terrible nature of the pandemic (Cohn 724).Advertising Looking for essay on history? Let's see if we can help you! Get your first paper with 15% OFF Learn More These controversies are also typical of the claims about the events that preceded the Black Death. Many historians have given varying explanations as to what led to the occurrence of such a devastating pandemic. This essay thus proceeds to explore the different perspectives on the same. Several authors have given their own accounts of what they think might have led to the Black Death. Such explanations vary from erratic climat ic patterns to low levels of hygiene among the people of medieval Europe, especially in the village settings. The aforementioned idea of the pandemic’s origin in China and spreading through trade routes into Europe is one of the explanations, which have been offered by historians about the origin and spread of the plague that caused the Black Death (Zapotoczny 2). A complete departure from the idea that the pandemic originated from the East is given with an explanation that anchors on the great famine, which was witnessed in Europe between 1314 and 1322 (Haddock and Kiesling 545). This famine was occasioned by several factors among them the almost biblical flooding of 1314 to 1317, epidemics such as the cattle panzootic that ravaged herds between 1314 and 1321 as well as the acute decline in salt supply, which limited the ability to season meat to compensate for the reduction in cereal production. In addition, wars were also a common feature of this era, and thus armies consu med much of the scarce resources. This continuum of unfavorable events exacerbated the already wanting food situation in Europe. Harvests were not only meager but were also in most cases not fit for human consumption mainly because the incessant rains leeched nitrates from the soil thus leaving the crops with nothing to enhance their growth and development. The result was crops infested with diseases such as rusts, smuts, mildews, and molds.Advertising We will write a custom essay sample on The Black Death, the Late Medieval Demographic Crises, and the Standard of Living Controversies specifically for you for only $16.05 $11/page Learn More These impurities made the crops poisonous because when ingested, these substances lowered the immunity of the people and caused ill mental health as well. Considering the events of the fourteenth century, it emerges that it was a century of great agony to the continent of Europe because so much happened within a rela tively short time. However, the great famine and the events that accompanied it such as the incessant rains, ravaging wars, animal epidemics, and illnesses that emerged from consuming unhealthy food abated in the 1320s. This famine came upon Europe at a time when the continent had previously experienced a period of relative calm that had given them a carefree attitude. There was a period of sustained economic expansion and improvement of the standards of living that defied the effects of population growth. Historians report that between 800 and 1300, the population of Europe had been on a steady rise, which saw it move from below 40 million to over 80 million. This growth was accompanied by an expansion in production, which saw the standards of living rise despite the rise in population. Even though the population rose steadily, there were enough resources to match and sustain the population escalation. By the beginning of the 14th century, the population of Europe was at a point wh ere no margins were left in the production such that any slight fluctuation in the production was capable of causing a food crisis. This assertion implies that the resources had stretched to their maximum production capabilities. In addition, at the time, the European society was largely agrarian such that its well-being was anchored on the performance of crops and livestock. This inclination towards agriculture was dangerous as at the time farmers depended on natural conditions as opposed to the contemporary times where irrigation and farming best practices are a common place. Therefore, any occurrence affecting food production would put the society in a precarious situation.Advertising Looking for essay on history? Let's see if we can help you! Get your first paper with 15% OFF Learn More At this point, it is apparent that the Malthusian crisis was imminent upon the European people. According to Malthus, expansion and growth was only sustainable to the limit of resources; beyond that point, the world would naturally decongest itself to a level the pattern would start over again. It is true that right at the time when Europe was stretched to its limit, disaster struck causing production to decline several folds not only in crops, but in livestock as well because livestock epidemics such as the cattle panzootic swept across Europe at the time. This sequence of events tends to espouse the argument that Malthus advanced. However, what is not clear is how the erratic weather patterns such the rains and livestock epidemics came in to trigger one of the greatest famines ever recorded in annals of the world. It would be easier to claim that the great famine was a Malthusian crisis if production was maintained at pre-famine levels but people perished because the production wa s not adequate to sustain everyone. In other terms, the great famine cannot be exhaustively explained from an economics point of view, which has left many in a dilemma because though it would be easier to assume that it was a Malthusian crisis, the origin of floods and livestock epidemics is beyond economics, yet Malthus advanced his argument from an economics point of view. The Black Death, which descended on the continent in late 1340s, set in after a full decade of no major occurrences. The production levels in both the manufacturing and the agriculture industry had gone back to pre-famine levels (Munro 9). This aspect implies that an attempt to link the great famine and its effects to the Black Death may not strongly hold. In this sense, the Black Death and the great famine are independent of one another. The relationship between the two rests only in the fact that the two were among the events that added to the agonies of the 14th century Europe. They are both part of the demog raphic crises of late-medieval Europe. Statistics show that the decline in population of Europe had started to decline before the advent of the Black Death. The most illustrious example can be seen in the demographic records of Tuscany (Italy) which show a decline of between 30%-40% before the Black Death. Similar records exist for other towns and regions in Europe albeit at varying degrees of severity. In this sense, the great famine was part of a continuum of unfortunate occurrences of the 14th century that almost depopulated Europe. The Black Death is also part of the continuum as are several other outbreaks that claimed considerable numbers of lives after the Black Death. Mentioning here that the Black Death was part of a continuum of occurrences that constitute what is generally referred to as the demographic crises of late-medieval Europe, does not mean that it fits into the Malthusian argument. Like in the case of the great famine, there is no clear economics oriented explana tion that can adequately account for the Black Death. Thus the two are not linked to each other and do not fit in with the Malthusian argument. The only part of the late-medieval crises that can be explained adequately from an economics perspective and thus fit in with the argument that was advanced by Malthus are the ravaging wars that were rampant all over Europe. An important aspect of the Black Death in particular, is the rate at which it spread over the entire Europe and parts of Asia within such a short time. Several explanations are present in the literature to this effect. The disease started in Asia and came aboard merchant ships in rats and fleas as well as the merchants themselves. Its rapid spread is attributed to the flourishing trade after the great famine. Human movement was rife both within Europe and beyond because European merchants travelled everywhere. On their journeys back to their lands, they brought with them merchandise as well as all sorts of diseases. In t he process of distributing their merchandise to their European markets, the plague spread rapidly across the European continent because it is claimed to have been contagious (Zapotoczny 3). In addition, due to the generally filthy conditions of medieval Europe, rats and fleas had the opportunity to thrive and thus spread the disease unprecedentedly. Others note that it was believed to be God’s punishment due to the inequities of humanity, and thus flagellants sought to appease God through emulating the martyrdom of Jesus Christ. They were whipped and flogged in order to obtain God’s favor for themselves and the rest (Munro 12). This exposed others to their blood and through contact, the disease spread rapidly. The Black Death was incident in the entire Europe and some parts of Asia. No accounts of the pandemic spreading to other parts of the world apart from the Eurasian continent exist. There could be several reasons why such accounts do not exist in today’s li terature; however, it cannot be assumed that the pandemic was only affected Europe and Asia. Since the pandemic’s main pathways were trade routes between Asia and Europe, the Northern parts of Africa, especially Egypt, must have been affected. The pandemic is reported to have affected three continents and since Asia and Europe are the most clearly documented, the third continent must have been Africa due to its proximity to the two. The bottom line is that three out of the world’s six continents were affected by the Black Death. Effects of the Black Death and other late medieval crises Many effects followed the Black Death, but to understand them better, it is prudent to consider the economic situation of Europe before, during, and after the Black Death. There had been a protracted inflation, which ended with the onset of the fourteenth century (Munro 14). This inflation was followed by the great famine and other events that accompanied it such as animal epidemics. Aft er the great famine, the European economy picked a positive pattern and grew to pre-famine levels before the onset of the Black Death; but even then, there was an economic meltdown (Bridbury 394). Wages for laborers were at an all time high just before the Black Death, which is an indicator that the economy was doing well. This positive trend can be attributed to a departure from over reliance on agriculture because the famine had demonstrated the perils of such a lifestyle. Unfortunately, the flourishing economic activities that followed the great famine only served to worsen the Black Death by aggravating its spread. After the Black Death, employers’ scrambled for the few remaining laborers (Zapotoczny 3). What followed next was that wealth was at the disposal of a few and peasant laborers could earn several times more than before the Black Death. This pattern was replicated in the middle class with the result of increased wealth per capita. For the business community and p roperty owners, things were different for they had to pay higher wages hence lower profits (Haddock and Kiesling 549). The economic disruptions caused by the Black Death penetrated government systems occasioning some to come up with measures to stabilize their economies. For instance, the British Monarchy sought to establish ceilings for the prices of commodities and wages paid to laborers to eliminate any possibilities of their rise beyond the pre-plague levels (Zapotoczny 4). Similar trends were observed in parts of France, Germany, and Italy. Proprietors attempted to raise their incomes by seeking higher payments from their tenants. This move, coupled with the legislations that were not favorable towards peasants, led to uprisings in England and other parts of Europe in late fourteenth century (Zapotoczny 4). These unrests are considered as major contributors to the philosophical and scientific advancement in Western Europe and since they were not prevalent in Eastern Europe, it can be understood why it (Eastern Europe) trails its western counterparts (Zapotoczny 5) In the religious realm, the Black Death radically changed the position of the church in the eyes of the common person. The Black Death lowered the standing of the church leading to the sprouting of other religions and a general departure from church values among Europeans. The culture of Europe like many other aspects of life also changed after the plague. People became generally pessimistic about life and turned to alcohol and other substances that would help them to escape reality. This trend encouraged a culture of alcohol consumption, indulgence, and departure from social and moral norms of the pre-plague period among Europeans. Conclusion The occurrence of the Black Death remains unequaled in the history of the world. Although it affected Europe and significant parts of Asia, its severity transcends even global crises that have been recorded in the annals of world history. Its effects alter ed significantly the continent of Europe and traces of the culture that developed in its aftermath can still be pointed out in Europe today. It goes down as the most illustrious of all the pestilence that Europe, and even the entire world, has ever known in its history. Works Cited Cohn, Samuel. â€Å"The Black Death: End of a Paradigm.† The American Historical Review, vol.  107, no. 3, 2002, pp. 703-738. Bridbury, Anthony. â€Å"Before The Black Death.† The Economic History Review, vol. 30, no. 3, 1977, pp. 393-410. Haddock, David, and Lynne Kiesling. â€Å"The Black Death and Property Rights.† The Journal of Legal Studies, vol. 31, no. 2, 2002, pp. 545-587. Munro, John.  Before and After the Black Death: Money, Prices, and Wages in Fourteenth-Century England. PDF File. 2004. economics.utoronto.ca/public/workingPapers/UT-ECIPA-MUNRO-04-04.pdf. Zapotoczny, Walter. The Political and Social Consequences of the Black Death, 1348 – 1351. PDF file. 2006. w zaponline.com/BlackDeath.pdf. This essay on The Black Death, the Late Medieval Demographic Crises, and the Standard of Living Controversies was written and submitted by user Mina Lester to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Business Behaviour in Changing World Hyundai Motor Company

Business Behaviour in Changing World Hyundai Motor Company Problems faced by HMC and measures taken Since its inception, Hyundai Motor Company has encountered numerous challenges both in the local and foreign market. The company was established under the authoritarian leadership of Ju-Young Chung. Consequently, the Chung family assumed the responsibility of making all the decisions affecting the company.Advertising We will write a custom case study sample on Business Behaviour in Changing World: Hyundai Motor Company specifically for you for only $16.05 $11/page Learn More One of the challenges that the company encountered both in local and foreign markets was the decision-making process. The success of any organisation dwells on the ability by the management team to make informed decisions. The executives ought to have a chance to present their opinions on matters affecting the organisations. At the beginning, the leadership of HMC denied the executive a chance to share their ideas on how to manage the company. Hen ce, the company could not benefit from the wide knowledge and expertise that most of its professional managers possessed. Chung fired all the executive members that opposed his decisions and replaced them with others who showed veritable loyalty to him. Later, Ju-Young handed over the leadership baton to his younger brother who made efforts to enhance the leadership culture of the company. He promoted autonomous management coupled with equal opportunity and called for harmonious human relations in the company. Unfortunately, he introduced these aspects at a time when Korea was also experiencing political democratisation. In spite of the positive changes made by Ju-Young’s brother, the company suffered from numerous labour-management disputes. The company saw its first labour union established in 1987, which was responsible for presenting employee complaints and bargaining for better employment terms on behalf of the employees. Disagreements between the leadership and labour u nion led to strikes in 1987 and 1988, which pushed the company into huge loss. In 1997, the company suffered liquidity crisis because of the financial crisis that swept across the East Asia. Moreover, Hyundai group had to restructure its business in line with the International Monetary Fund policies. The restructuring process subjected the company to public distrust as it involved allocating most of the company’s properties to the Chung family instead of coming up with novel management strategies.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In the United States, Hyundai Motor America started at a high note, but later its performance plummeted. At the beginning, the Americans associated the company with Japan; hence, they freely purchased its cars leading to high sales volume recorded during the early days of HMA. Nonetheless, it did not take long before people lear nt that HMA’s car, the Excel, had immense quality problems. The car started exhibiting engine failure and some of its components, as air conditioners did not function properly not to mention its body, which rusted fast. In 1989, the sales volume for Excel went down significantly, which left the company in huge losses. In the process, the dealer profit went down with numerous dealerships closing down. It became hard for Hyundai to get lenders to cater for its consumer loans. In 1990, J.D Powers and Associates started rating and publicising Hyundai cars. The ratings showed that vehicles manufactured by HMA were of poor quality relative to those manufactured by other automakers. Eventually, Hyundai cars became the synonym for sloppy products. After Rodney assumed the leadership of HMA, he thought of enhancing the company’s image by enhancing the quality of its cars and increasing their costs. Poor organisational performance coupled with poor leadership are recipe for empl oyee turnover. Whenever employees feel that they do not have the opportunity to make decisions on matters affecting their company, they tend to slacken and eventually look for another company that allows them to partake in the decision-making process. Besides, whenever employees learn that their company is not doing well, they fear for their job security, which forces some to quit. Another problem that affected HMA was employee turnover. In 1996, the company lost seven of its talented managers. In an effort to address all these challenges, the Hyundai Motor Company used numerous strategies. Some of the strategies proved successful while some solved the problems only for a short period. After Se-Young took leadership from Ju-Young, he tried to address the leadership problems by restructuring the organisational culture.Advertising We will write a custom case study sample on Business Behaviour in Changing World: Hyundai Motor Company specifically for you for only $16.05 $11/p age Learn More He advocated for autonomous management, equal opportunity, and harmonious human relationship. This move helped in delegating duties to the executive managers that for a long time had been denied the opportunity to participate in managing the company. Later, in an effort to boost production efficiency, Se-Young merged some of the job functions, which eventually helped the company in downsizing thus cutting down on operations cost. In 1996, Se-Young relinquished the HMC leadership to his son, Mong-Kyu Chung. Mong-Kyu sought to continue with the leadership style used by his father and in a bold move to improve the company’s image; he set a vision to ensure that HMC became one of the reliable companies in the world. Consequently, he embarked on improving the quality of products sold by the Hyundai Motor Company. He aimed to use move as an avenue for enhancing organisational brand and realising consumer satisfaction. His humane attitude helped the co mpany in solving the labour-management disputes, thus improving its performance between 1996 and 1998. In the United States, HMA tried to use varied strategies to address the challenges facing it. For instance, the company came up with advertisements and promotions, offered dealer incentives, and established new packages as ways of regaining its past glory. Nevertheless, these strategies did not work due to the immense tension between HMC and HMA. Moreover, the company tried to diversify its product mix as away of enhancing its performance in the United States. In 1991, it came up with the Elantra car with an aim of closing the gap between Excel and Sonata. Nevertheless, the introduction Elantra posed a threat to the sales of Excel in the American market, thus rendering the strategy unsuccessful. In 1994, the company embarked on an advertisement strategy using a popular NBA player. This move helped the company to increase the sales volume of the Sonata model, but only for a short pe riod.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Hyundai’s global strategy In a bid to facilitate in improving the image of Hyundai Motor Company both locally and internationally, Bob Martin helped the company in establishing bold market strategies. The company not only sought to enhance the quality of its products, but also worked on enlightening its target customers about the quality of its vehicles. In the process, the company came up with a global approach that sought to help it to realise product differentiation as well as market diversification. One of the factors that made Hyundai Motor Company not to make substantial sales in the global market was the consumers’ perception that the company offered poor quality vehicles. This perception hinged on the low prices of the vehicles sold by both HMC and HMA. Therefore, to address this challenge, the company opted to come up with a packaging strategy, which sought to repackage their vehicles at higher prices to impart the notion of quality on its target consumers. On e of the challenges that faced this approach was the fact that most of the sales made by the company in the global market relied on the cost of its vehicles. Hence, repackaging the vehicles at a higher price would have resulted to reduction in sales. The challenge was addressed by differentiating some of the equipments installed in its cars from those installed by its competitors. This approach helped the company to change its image in the public eyes. Customers started perceiving HMC vehicles as reliable just like those manufactured by other automakers. The main reason why customers fail to associate with a particular organisation is its brand image. The brand image facilitates in selling an organisation (John et al. 2002). No matter how hard an organisation advertises its products, if its brand image is poor, it is hard for consumers to use its products. Differentiating the car equipments from other automakers helped HMC to regain its glory and attract more customers. This move ma de customers to realise that Santa Fe did not have a cheaper car image as they thought, and thus they developed the willingness to purchase the vehicle. In 2000, HMC deliberated on selling a luxury car in the American market as a way of enhancing its image. The company felt that selling the entry-level models in the international market, even after being in the market for a long time, sent a negative image about the company. HMC borrowed this idea from its competitors. Other motor companies were selling luxurious cars like Acura, Lexus, and Infiniti. Building a luxurious car would thus help HMC in boosting its sales in the global market. Besides, it would make the public change their perceptions about the company, and thus start buying even its intermediate models. Normally, companies always strive at being at par with their competitors. Failure to come up with strategies to counter competition waged by rival companies may lead to a company losing its customers. One of the reasons t hat prompted HMC to come up with the idea of developing a luxurious car was the fact that the Japanese automakers were already using the approach, which gave them both quality and price advantages. Besides product differentiation, HMC also opted to establish market differentiation to ensure that it benefited from all the market segments. Hyundai worked in liaison with Kia. Moreover, they operated at the same market level. Moreover, the two companies opted to differentiate their markets and products to ensure that they reap optimally from all market segments. Kia Company was to focus on the low income earners by selling the entry-level car models, while HMC targeted the high-income market segment by selling expensive car models. This approach could work without opposition from Kia Company. Every organisation would wish to enhance its image by selling products of presumably good quality. Requesting Kia Company to continue selling low priced vehicles would make the public doubt the qua lity of its vehicles. Consequently, the company could not just agree with this idea, as it would be detrimental to its profit margin. In spite of this approach standing out as the most appropriate, it had significant drawbacks to the company. For the company to change the brand image through enhancing the quality and increasing the prices of its product, it had to give up its price benefits. Hyundai Motor Company made significant sales in the global market due to the prices of its vehicles. Low-income earners and young families bought their vehicles from the company since their prices were affordable. Consequently, increasing the cost of these vehicles would lead to the company losing most of the low-income customers. Moreover, the company would incur huge costs in manufacturing and distributing high quality car models. Even though the approach would facilitate in building the company’s brand, the management had to dig deeper into the company’s financial reserves to fu nd the approach. Theory/concept behind the Hyundai’s strategies Most companies come up with business strategies based on the market forces that rival companies exert. It would be hard for a business organisation to stand out in the market without differentiating itself from rival companies. In a bid to achieve this goal, the organisation ought to have a good understanding of its rival companies, their operations strategies, and be in apposition to forecast future market changes that might affect its performance (Teece et al. 1997). Apart from learning from rival companies, a company ought to understand its customers as well as suppliers in terms of their bargaining power and its probable effects to the company. Hyundai Motor Company formulated its business strategies under the concept of the five forces of competition established by Porter. The forces include competition from substitutes, new entrants, and rival companies. Besides, the company considered the suppliers and buy ers’ bargaining power in coming up with its strategies (Teece et al. 1997). In coming up with the operations strategies, HMC considered the level of competition waged by rival companies, especially in the American market. The Japanese and European automakers were already manufacturing and selling luxurious and expensive cars in the market by the time Hyundai Motor Company opened HMA in the United States, and thus to capture the market, HMA started by selling the entry-level cars. The cars were cheaper relative to cars sold by other automakers. With time, customers started doubting the quality of the vehicles that HMA was selling in the market. The competition waged by rival companies triggered the move to embark on enhancing the quality of the vehicles as well as the image of the company. It was hard for HMA to remain competitive in the market since people perceived that the company sold its vehicles at lower prices due to their poor quality. Therefore, in an attempt to overc ome this challenge, Hyundai Motor America had to start selling vehicles that were at par with those offered by rival automakers like the Japanese. Hyundai Motor America was afraid that new companies would venture into the American market. Hence, it had to look for ways to ensure its establishment in the market before the new entrants. The company feared that in the next ten or fifteen years, the Chinese automakers would establish themselves in the American market. This move would lead to the introduction of vehicles that sell at lower prices thus being detrimental to the price advantage that HMA had been enjoying in the market. The fear of new entrants’ inevitability in the American market forced HMA to embark on the strategy of enhancing the quality of its cars. The company felt that by enhancing the quality of its cars, it would surmount competition waged by new entrants. Besides the competition from new entrants and rival companies, numerous vehicles acted as substitutes t o the ones sold by Hyundai Motor America. For instance, Elantra competed with Nissan Sentra, Chevrolet, and Dodge Neon. On the other hand, Santa Fe competed with RAV4 and Toyota Highlander. These substitutes were mainly from companies known for manufacturing quality vehicles, thus making it hard for HMA to assert itself in the American market. The main reason why HMA decided to differentiate some of the standard components in its vehicles was to outdo the substitute cars in the market. It was hard to prove that its cars were superior while they did not reflect anything unique relative to their substitutes. This aspect compelled Hyundai Motor America to install unique air conditioner components, power windows, and other components to its cars as a way of signifying the cars’ uniqueness relative to the substitutes offered by other automakers. In coming up with the warranty strategy, HMA considered the bargaining power of its suppliers. The strategy was to be compensated by deve loping quality vehicles thus boosting the company’s sales volume. Therefore, to come up with quality vehicles, the company had to liaise with suppliers to acquire quality materials. This aspect meant that suppliers would have an upper hand in influencing the company’s strategy. Moreover, to ensure that they continued acquiring quality materials from the suppliers at a cheap cost, the company worked closely with suppliers in its research and development strategy. Consumer bargaining power played a significant role in the business strategy that HMA adopted. The company benefited most from the low-income earners and the young families. Hence, in the effort to come up with high quality and expensive vehicles, the company had to consider this group of buyers. The reason why the company embarked on a market differentiation strategy was to ensure continuity in serving this group of buyers, which acted as it main market. Policies affecting Hyundai Motor Company The success of any business organisation depends on its policies. Through policies, a business establishes a set of guidelines that direct its operations. Moreover, every market has some policies that direct the operations of all the stakeholders. Technological, international, and local policies are some of the policies that influence organisational performance in any market (Metcalfe 1994). Therefore, to enhance its operations, Hyundai Motor Company adopted a technological policy that sought to promote innovation in the company by enhancing management capacity and knowledge acquisition. After operating in the American market for a long time, HMA learnt that it was hard for it to continue enjoying substantial sales without working on the quality of its cars as well as building its image. Hence, the management embarked on looking for the most innovative enhancements to include in its cars. The company sought the assistance of its research and development personnel to achieve this objective. The per sonnel members were to work in liaison with suppliers to ensure the acquisition of quality supplies. Moreover, the company worked in collaboration with its customers to identify some of their preferences. It would be hard for an organisation to meet all the customer needs without liaising with its customers (Metcalfe 1994). Consequently, HMA adopted a technological policy that allowed for cooperation between the company and its customers in building its new car models. One of the local policies that affected Hyundai Motor Company in Korea was political democratisation. Initially, the Korean Chaebols did not allow their employees to form labour unions. Nevertheless, the democratisation process led to the emergence of labour unions, and as the unions started fighting for employee rights, they led to HMC encountering a series of labour-management disputes. The disputes made it hard for the company to maintain its consistency in vehicle production and distribution. In 1987 and 1988, the company recorded numerous employee strikes because of labour unions. Besides the local policies, international policies also had significant effects on Hyundai Motor Company. In 1997, East Asia suffered a severe financial crisis. Most of the Korean companies were forced to close down due to bankruptcy. The crisis did not spare the Hyundai group. In the process, the International Monetary Fund and other foreign companies imposed their foreign policies on the Korean government forcing it to ensure that local Chaebols restructured their operations and enhanced transparency. Hyundai had no option but to restructure its businesses. In the process, the company lost about 70 associate businesses, thus affecting its performance. Another foreign policy that significantly affected the performance of Hyundai Motor Company in the United States is the tendency to publicise the information about how its products were fairing with respect to quality. When the company entered into the American mar ket, consumers did not know anything about the quality of its cars. Some associated it with Japanese automakers; nevertheless, as time went on, J.D. Power and Associates started broadcasting the ratings of Hyundai cars. Hyundai’s cars ranked low in the market, which stirred doubt amongst customers regarding their quality. This aspect made most of the potential customers to shun from buying Hyundai cars. Reference List John, R, Cox, H, Gillies, G Grimwade, N 2002, Global Business Strategy, Thomson, London. Metcalfe, S 1994, ‘Evolutionary economics and technology policy’, The Economic  Journal, vol. 104 no. 425, pp. 931-944. Teece, D, Pisano, G Shuen, A 1997, ‘Dynamic capabilities and strategic management’, Strategic Management Journal, vol. 18 no.7, pp. 509-533.

Introduction to HRM in Canada Essay Example | Topics and Well Written Essays - 3000 words

Introduction to HRM in Canada - Essay Example Human resource management is a science that involves the all-inclusive approach that is relevant to the setting up of an adequate and advantageous workplace culture and environment. This paper seeks to analyze the human resource management practice in Canada in a comprehensive context. It particularly places intense focus on Canada’s public service sector as a case study. Human resource Management The general practice of human resource management is usually defined in two broad approaches. From one approach, it can refer to the procedure of supervising individuals in an elaborate and prearranged method (Ronald, 2007:69). These courses of actions include staffing procedures, the effective keeping of employees, the determining of various remuneration processes, and the handling of exits and new entries regarding workers in a venture (Ronald, 2007:89). Another approach to the human resource practice defines it as the act of linking employees to the top management in a company (Ro bert, 2011:83). This approach puts intense focus to the traditional purposes and expected results of the human resource sector in any company. This approach gives the department the responsibility of monitoring all issues that are relevant with the workers in a venture. ... t enjoys a strategic position that greatly influences the resultant perception and behavior of its target market, customers, and the overall business turnover. The business’ human resource arm exerts much focus on the successful selecting, training, and adequately rewarding of top-tier talent. It also supports transparent dialogue, group work, and cooperation. In addition, the department takes steps to discourage bad performances, or any actions from the employees that can potentially derail the company’s long-term objectives in the process of realizing short-term benefits (Ronald, 2007:157). Human resource management methods in Canada’s public service sector The successful administration of human resource departments in all companies and sectors is crucial to the effectiveness of the Public Service of Canada. In addition, it is also vital for the overall qualities of services given by the Canadian administration. The office that houses the Chief Human Resources Officer (O.C.H.R.O.) is the headquarters of proficiency for human resources administration in Canada’s public service. It is accountable for formulating the wide range of strategy directions and ethics that effectively guide all administrations in all institutions on how to enact their principal responsibility that is the efficient monitoring of workers in their ventures or organizations. The office carries out its principal mandate through three main avenues (Hessing, 2005:79). 1. Monitoring and coverage on People supervision This happens through the use of the Management Accountability structure and the Public Service Employee survey. The Management Accountability structure The office monitors and reports on employee management through its Management Accountability structure (M.A.F.), and its public

You are an entrepreneur Essay Example | Topics and Well Written Essays - 1500 words

You are an entrepreneur - Essay Example r would consist of the customer contact staffs that would take care of the customers and would be involved in a variety of activities like the serving of the ice creams, billing of the products as well as the general activities that need to be undertaken to run an ice cream store. There would also be a set of back end staffs who would be engaged in preparation of the products in the freezer and for maintenance of the machines and equipments. The floor managers would be required for ensuring that the activities of the shop are undertaken in a proper manner (Blythe, 2001). There would be requirement of a marketing manager who would be responsible for the branding and promotion of Sweet Taste (Pinson and Jinnett, 2009). The company would cater to the fast food market and would see a rise in the sales especially during the period when the classes would be going on in the schools and colleges. This kind of business would be a popular one because especially during the summer months the sales would go up. The pastries and the cookies are expected to sell in the winter months. Since the business is a start up, it would prefer to focus on one particular outlet of the ice cream shop. There would be a number of products in the product line of the business. First of all, there would be a number of flavors in the ice cream section of the store, which includes chocolate, strawberry, mango, black current, butterscotch and many more. There would also be a low fat section in the product line which would be offered in a variety of flavors (Farris, 2006). Finally there would be pastries which would also be of different types to provide the customers with a variety to choose from. Chocà ³ chip cookies would also be sold in the shop. The assets of the company would be the freezer and the machines that would be used for running the business. These would form a part of the fixed assets of the business. The other tangible assets of the company would be the furniture and the cutlery

Developing Management skills - 8th edition david a Whetten & Kim s Essay - 2

Developing Management skills - 8th edition david a Whetten & Kim s cameron - Essay Example ensation rewards and organizational goals will make employees take full control of their jobs hence improving their efforts and overall job performance. According to Navistar Internationals incentive plan, the plain aims at enabling the organization and its affiliated company subsidiaries to attract and retain employees with high qualifications and skills. Additionally, the company’s incentive plan aims at attracting consultants and non-employee directors who have exceptional skills in the operation of the company (Whetten and Cameron 90). The company is focused on providing its key employees occupying major positions an opportunity to earn incentive awards in line with the quality of their individual performance and achievement of performance goals. In line with the above mentioned organizational goals, the company has designed a number of compensations for its different categories employees. The company has different levels of employees defined by their tasks and responsibilities (Whetten and Cameron 95). The awards for performance depend on the performance of employees and their level of employment as stated earlier on. The objective of the company is attracting and retaining exceptional talent through attractive compensation packages. The incentive plan for the company is designed in such a way that employees with greater responsibility receive higher compensation compared to employees with less responsibility. This is because employees with greater responsibility have higher skills and talents and the organization is keen in attracting and such a group of employees in order to improve and maintain good performance. The organization’s incentive plan is based on pay-for-performance. The organization provides for the establishment of a committee that is responsible for the evaluation of employee performance and recommendation for compensation. Since the organization aims at attracting and retaining exceptional talent and skills, the pay-for-performance

Creep Behaviour of Materials

Creep Behaviour of Materials Chen Yi Ling   Objectives The objectives of the experiment are: To measure the creep deformation in lead and polypropylene at room temperature To determine the effect of stress on the creep deformation of lead and polypropylene To appreciate the difference in creep behaviour between these two classes of materials To be aware of creep as a design consideration Theory 2.1. Introduction Deformation under a certain applied load over a period of time at a particular temperature is defined as creep, and it limits the load carrying capacity among structual materials. When subjected to a stress greater or equal to its yield stress, the material deforms plastically. Alternately, when the stress is less than its yield stress, the material will deform elastically. However, when the material has to withstand stress at high temperature, permanent deformation will occur even if the stress is below the yield stress obtained from a tensile test. Under a constant stress, the strain vary as a function of time as shown in Figure 2.1.1. [1] The different stages of creep are: Primary Creep/Transient Creep Strain rate decreases with time and deformation becomes difficult as strain increases. (i.e. Strain Hardening) Secondary Creep/Steady Creep Strain rate is constant The occurrence is due to the balance between strain hardening and strain softening (Structure Recovery) Tertiary Creep/Approaching Rupture Strain rate increases with time and the material is fractured. Increase in creep rate is due to the increasing number of damages such as cavities, cracks and necking. The damaging phenomena reduce the cross-sectional area, which increase the applied stress when placed under constant load. Viscoelastic materials such as polymers and metals are susceptible to creep. When subjected to a sudden force, the response of a polymeric material can be detected using the Kelvin-Voigt model (Figure 2.1.2) Viscoelastic materials experience an increase in strain with time when subjected to a constant stress, this is termed as viscoelastic creep. At t0 (Figure 2.1.3), viscoelastic material is able to maintain for a significant long period of time when loaded with a constant stress. The material eventually fails when it responds to the stress with an increasing strain. In contrast, when the stress is maintained for a shorter period of time, the material experience an initial strain until t1 in which the stress is relieved. The strain then immediately decrease gradually to a residual strain. [3] In this experiment, we will study the creep behaviour of a low-melting point metal (Lead, Pb) and a polymer (Polypropylene, PP) at room temperature. 2.2. Creep in Metals Creep can be observed in all metals if its operating temperature exceeds 0.3 to 0.5Tm [5] (Tm = Absolute Melting Temperature) (Figure 2.2.1) Creep strain (ÃŽ µ) depends on several variables, the most important variables are stress (ÏÆ') and temperature (T). Using stress and temperature, the creep rate () can be defined as: (Equation 2.2.1) Where, A = Constant n = Stress Exponent E = Activation energy for creep R = Universal gas constant Creep rate () increase as stress and temperature increase, hence Equation 2.2.1 can be redefined as: (Equation 2.2.2) Whereby n is the slope of vs lnA at constant temperature. 2.3. Creep in Polymers The creep in polymers is almost similar to the creep in metal as it is depends on stress and temperature, with a few exceptions. Comparing Figure 2.2.1 and Figure 2.3.1, the two graphs look similar except that Figure 2.3.1 has a recovery phase, which is termed as the reversal of creep. Possessing viscoelastic properties, the behavior of the material can be predicted using the Kelvin-Voigt model (Figure 2.1.2) as mentioned earlier, and hence, it will be used in this experiment. Equation 2.3.1 shows the relationship between the creep strain (ÃŽ µ) and time under constant stress: (Equation 2.3.1) Where and are the constant of the spring and dashpot respectively (Figure 2.1.2) On the other hand, Equation 2.3.2 shows the creep strain in relation to time: (Equation 2.3.2) Where is a constant. The data obtained can be plotted into an isochronous graph by taking the constant time section through the creep curves for a specific temperature. And the results obtained formed the isochronous graph. Experimental Procedures 3.1 Equipment for Creep Testing The load was applied steadily to the specimen using the lever principle shown in Figure 3.1.1. Steel pins were used to kept the specimen in place on one side of the lever and the weight hanger on the other. The weight hanger consist of 2 pinning position; the topmost hole was used when the hanger and loads were in rest position while the lower hole was used when the hanger was loaded. The following table shows the mass for the parts of the equipment which should be taken into consideration during the calculation of tensile force on the specimen If m was the mass of the load on the weight hanger, then the tensile force acting on the specimen can be defined by taking moment about pivot as shown in Figure 3.1.2. [(F+0.04) x 42] – [0.40 x 147] – [(0.16 + 0.04 +m) x 336] = 0 (Equation 3.1.1) Where, g is the acceleration due to gravity = 9.807m/s2 The extension of the specimen was measured using a dial gauge (DG). The DG was placed into a tube tightened using a nylon pinch screw to hold the DG in its place. It should be noted that the nylon pinch screw should only be tighten sufficiently to prevent the DG from moving when the loads were placed. The top of the DG was attached to the set up using a grooved plate which was bolted to the lever arm. This arrangement was to ensure the groove in this plate was two times the distance from the pivot to the centre of the specimen. Hence, the extension of the specimen detected by the DG was twice the actual extension of the specimen. And to counter for inaccuracy when zeroing the DG, an additional 3mm was taken into account before the start of the experiment. Thus, the actual extension of the specimen can be calculated by: (Equation 3.1.2) 3.2 Experiment Methods For the measurement of creep in lead, the load applied would be 0.9, 1.0 and 1.1kg. For the measurement of creep in polypropylene, the load applied would be 0.7, 0.8 and 0.9kg. Before conducting the experiment, the width, length, thickness and gauge length of the specimen was measured thrice using an electronic vernier caliper; the readings used for the calculation would be the average reading (highlighted in orange). 3.2.1 Experiment 1: Creep of Lead The lever arm was held in place using 2 pins; 1 of it to be inserted into the bearing block and the other onto the topmost hole of the weight hanger. Attached the specimen onto the set up using 2 pins. Place the Dial Gauge into the hole/tube but do not tighten the nylon screw yet. Attach the groove plate at the top of the Dial Gauge and lever arm and secure it using a thumb nut. Release the pin holding the weight hanger to take up any free movement. Make sure the specimen was placed vertically. Carefully adjust the Dial Gauge until the inner dial reads 3mm and the outer ring reads 0, then tighten the nylon screw. Load the required weight onto the hanger. Raise the loaded weight hanger to the lower hole (loading position) and insert the pin. Gently release the load and start stop watch. Record reading every 15 seconds for 30 minutes or till the specimen ruptures. In order to determine the secondary creep rate for each applied stress, 3 extension-time creep curves were required. The creep rate can be calculated using the following equation: (Equation 3.2.1.1) Where In this experiment, ln vs ln plot was required. Hence, the stress () on the specimen is given by: (Equation 3.2.1.2) Where, F is the load applied to the specimen (N) 3.2.2 Experiment 2: Creep of Polypropylene The test of creep of polypropylene is similar to that of lead, with a couple of exceptions. Before placing the specimen onto the set up, 2 ‘U’ brackets should be fitted over the 2 ends of the specimen. For polypropylene, elastic recovery was possible hence the specimen was not required to be tested until failure. Note that 15 minutes, 12 minutes and 7 minutes were the extension time required for 0.6kg, 0.7kg and 0.8kg respectively Place the required load onto the weight hanger. Record the extension for every 15 seconds for specific duration. After the extension period, remove the weights on the weight hanger and continue to record the reading (elastic recovery phase) every 15 seconds for 10 minutes or when the needle on the Dial Gauge stop moving for 1 minute. Repeat for other loads. Plot extension vs time curve to show the creep and recovery curve. In this experiment, strain vs stress plot was required. Hence, the strain rate () on the specimen is given by: (Equation 3.2.2.1) Where Results Results for Lead The increment of extension () was selected based on the results reflected on Figure 4.1.1. The creep rate (ÃŽÂ ­) of Lead was determine using Equation 3.2.1.1. The stress () applied onto the lead specimen was calculated using Equation 3.2.1.2. By adding ln to the values of and ÃŽÂ ­, Using the data from Table 4.1.1, we can plot a linear graph. Based on Figure 4.1.2, the stress exponent (n) from the straight line was 10.503. Results for Polypropylene A sudden drop was observed for 0.7kg, this was due to human error as results was not recorded promptly on specific time. Using Equation 3.2.1.2 3.2.2.1, the stress and strain rate is shown below: Based on Figure 4.2.1, when stress is constant, the strain increases as time increases, which tallies with the theory. 5. Discussion Usefulness of the Plot of lnÏÆ' vs lnÃŽÂ ­ By plotting lnÏÆ' against lnÃŽÂ ­, we can determine the gradient (n) or the stress exponent of the specimen, which correspond to the controlling mechanism of creep under testing conditions. Stress Exponent for Lead The stress exponent indicates the influence of deformation rate on the mechanical strength of the specimen.[7] At low stresses, n equals to 1, which indicates pure diffusion creep. At high stresses, n > 1, indicating other creeping mechanism besides pure diffusion. Factors affecting the stress exponent value The stress exponent for lead in this experiment was found out to be 10.503. And the factors which affects the value is the type of creeping mechanism behind the specimen. Some creeping mechanisms include Coble creep (Grain boundary diffusion) and Dislocation creep/climb (Power law creep).[8] Creep of Metals in Design Consideration The following are some methods to minimize creeping in metals: Employ materials with high Tm Reduce the effect of grain boundaries by using a single crystal with large grains or adding solid solutions to eliminate vacancies[9] Creep is an important consideration for when a component have to support a load at temperatures where Tabs/TM > 0.4.[10] For high temperature, creep is an important consideration in these three areas: Displacement-limited applications such as turbine rotors in jet engines Rupture-limited applications such as high pressure steam pipes Stress Relaxation limited applications such as tightened bolts and suspended cables [11] Viscoelastic Behaviour Materials which exhibits both viscous and elastic property during deformation is known as viscoelasticity.[12] In this experiment, both lead and polypropylene exhibits viscoelasticity to different extend. For lead, the time taken in which the specimen rupture decreases as the stress increases. However, its viscoelasticity is not high hence, its recovery phase is not as significant as polypropylene. Furthermore, the structure of lead is more crystalline than polypropylene, which means it is more brittle and more prone to rupture. For polypropylene, the extension increases as the stress increases. The extension and recovery rate of each load are as follow: Recovery rate is possible on polypropylene specimen because it has higher elasticity due to its amorphous structure. The amorphous structure untangles and lengthens out until it becomes crystalline. Conclusion In conclusion, the results obtained from the experiment is true to theory. Unfortunately, during the creep test for lead, some results are missing due to some human error resulting in an incomplete graph as depicted in Figure 4.2.1. For the creep in lead, load 1.0kg and 1.1kg rupture before 30 minutes. This shows that the heavier the load, the faster the creep rate. At even high temperature, t

Application of CFD Simulation for Evaluating the Separation Efficiency of Deoiling Hydrocyclones :: Environment, Oil-water Separation

Introduction Having an efficient and reliable system for oil-water separation is of crucial importance especially for offshore oil and gas industry. Due to the platform movement, space, weight and operating limitations in offshore, the usage of common methods (gravity based vessels) for oil/water separation are ineffective. On the other hand producing oil is often accompanied by large amount of water that is discharged into the sea on offshore platforms. The amount of oil in water is confined from environmental standards. Therefore the need to have a high efficiency compact separator during variable operating conditions attracts the interests of researchers to hydrocyclones. Special trait of hydrocyclones such as simple design, easy to install and operate, no moving parts, and low manufacturing and maintenance costs make hydrocyclones as an economical and effective system for produced water treatment [1-2]. The separation process that is occurred in the deoiling hydrocyclones is quite different from that in the desander ones []. The density difference between liquid-liquid is smaller than solid-liquid mixtures. Therefore the separation of liquid from liquid is more difficult than solid from liquid and needs higher rotational speeds. The liquid droplet in comparison with solid particles could not experience shear rates. If the shear rates increase to the critical level the larger droplet break down to the smaller ones. The separation process for small liquid droplets is more difficult than large ones. On the other hand if two droplets close enough they might coalesce to each other. Because of difference in flow split of desander and deoiler hydrocyclones, the flow feature of continuous phase is different in these two types. The centrifugal forces cause the solid particles migrate to the wall region in desander hydrocyclones. So the near wall region is important in desander hydrocyclones but the oil droplet migrate to the center of hydrocyclones in deoiling hydrocyclones and the consideration tends to the center flow features. The first idea of using common hydrocyclones for oil-water separation was suggested by Simkin and Olney [6] and Sheng et al. [7] but fundamental studies on deoiling hydrocyclones started from 1980 by Colman [8] and Thew. Several experimental researches on deoiling hydrocyclones were conducted by Colman et al. [9] and Colman and Thew [10-12]. Their results showed that the separation efficiency of hydrocyclones is independent of flow split between 0.5 to 10 percent. So the overflow diameter should design based on working conditions. Moreover for constant droplet size distribution in inlet, the size distribution in outlet is independent of flow split. Application of CFD Simulation for Evaluating the Separation Efficiency of Deoiling Hydrocyclones :: Environment, Oil-water Separation Introduction Having an efficient and reliable system for oil-water separation is of crucial importance especially for offshore oil and gas industry. Due to the platform movement, space, weight and operating limitations in offshore, the usage of common methods (gravity based vessels) for oil/water separation are ineffective. On the other hand producing oil is often accompanied by large amount of water that is discharged into the sea on offshore platforms. The amount of oil in water is confined from environmental standards. Therefore the need to have a high efficiency compact separator during variable operating conditions attracts the interests of researchers to hydrocyclones. Special trait of hydrocyclones such as simple design, easy to install and operate, no moving parts, and low manufacturing and maintenance costs make hydrocyclones as an economical and effective system for produced water treatment [1-2]. The separation process that is occurred in the deoiling hydrocyclones is quite different from that in the desander ones []. The density difference between liquid-liquid is smaller than solid-liquid mixtures. Therefore the separation of liquid from liquid is more difficult than solid from liquid and needs higher rotational speeds. The liquid droplet in comparison with solid particles could not experience shear rates. If the shear rates increase to the critical level the larger droplet break down to the smaller ones. The separation process for small liquid droplets is more difficult than large ones. On the other hand if two droplets close enough they might coalesce to each other. Because of difference in flow split of desander and deoiler hydrocyclones, the flow feature of continuous phase is different in these two types. The centrifugal forces cause the solid particles migrate to the wall region in desander hydrocyclones. So the near wall region is important in desander hydrocyclones but the oil droplet migrate to the center of hydrocyclones in deoiling hydrocyclones and the consideration tends to the center flow features. The first idea of using common hydrocyclones for oil-water separation was suggested by Simkin and Olney [6] and Sheng et al. [7] but fundamental studies on deoiling hydrocyclones started from 1980 by Colman [8] and Thew. Several experimental researches on deoiling hydrocyclones were conducted by Colman et al. [9] and Colman and Thew [10-12]. Their results showed that the separation efficiency of hydrocyclones is independent of flow split between 0.5 to 10 percent. So the overflow diameter should design based on working conditions. Moreover for constant droplet size distribution in inlet, the size distribution in outlet is independent of flow split.

Relocating Margaret Thatchers in the Workplace Essay

Working environments are dimensions in which the individual’s skills, talents and production capabilities are put into the test. The war-like situation manifested in corporate arenas continues to post a challenge to each and every individual. It is a legitimized jungle wherein only the strong remains and the weak perish. Thus, for every struggle that is addressed, this spells sweet victory for the triumphant warrior. It is for this aspect that Karsten described the workplace a source of one’s â€Å"sense of self, power and prestige (162). † As the individual continue to climb the corporate ladder, his or her â€Å"sense of self, power and prestige (Karsten 162)† continue to increase. This is most especially true in scenarios wherein leadership roles are assumed and performed. However, a critical examination shows that holding power, garnering respect and expressing authority have exclusively remained in the hands of men. The opportunity to lead has been an exclusive right of males and women, despite of the strong campaign to uphold equality, are continuously pushed to the periphery. Women leadership remains a critical issue in the corporate environment. Despite of the efforts to render equal opportunities to both men and women, the actions taken, remained futile. Women as leaders are still seen from a derogatory perspective. As Spade and Valentine described, work places are no less than â€Å"gendered institutions† that operate under â€Å"inequality regimes (341). † Under this context, it can be argued that the so-called â€Å"inequality regimes† mentioned in this discussion, is no less than the hegemonic and oppressive patriarchal orientations that are highly manifested in various work spaces. Drawing on Dahrendorf’s distribution of power and authority (Lemell & Noll, 52), it is evident that many working environments deprive women from having equal chances or access to positions that demand an exercise of power and control. Also, power legitimacy as for the case of women leaders are often questioned or blatantly ignored. While it is true that women have managed to acquire managerial positions, Ely et. al expressed that only 1 % of these females are CEOs of Fortune 500 companies or establishments (161). Likewise, Ely et. al mentioned that in terms of governmental positions and functions, only a small percentage of women can be observed. The seemingly under representation and to a certain extent—total absence of women leaders in the corporate world is triggered by society’s patriarchal culture. The practices seen in the business world reflect the manipulative and discriminating orientation of the patriarchal system. Under this context, societal roles and functions are highly determined by gender. Men are seen as the stronger sex whereas women are the exact opposite. Women are constantly confined into domestic roles. They are mothers and wives whose values and worth are best exemplified in the bedroom and kitchen. Thus, their entries into the workplace or business environments are often seen as a threat. In addition to that, this scenario highly contradicts the so-called â€Å"normative behaviors (Ridgeway 223)† of world. Leadership in business environments translates to performing firm decision, asserting authority and showing direct control, if necessary. Needless to say, these traits or characteristics are often played or portrayed by men. On the other hand, the idea of being a mere â€Å"follower† is relegated to women. Therefore, in the event wherein a woman leader practices authority, utilizes power and make decisions, these scenario is immediately dismissed as a violation of the canonical norms not only of the workplace, but also of the overall social structure (Ridgeway 223). The problem with women executives or leaders is that their socially-constructed roles are mixed with their corporate or work-related functions. The merit of their leadership skills and capabilities are based on how well they perform their overtly stereotyped duties and obligations. When women act like leaders, the patriarchal system immediately questions their efficiency via insisting the women’s highly biased and gender-based tasks (Ridgeway 223). As Ridgeway stressed, women leaders are initially seen as a woman, then a leader (223). Gender would always come first and leadership capabilities are only secondary. There are several ways in which women are prevented from acquiring leadership positions in the workplace. The first one is illustrated by the â€Å"glass ceiling concept (Goethals & Burns 77). Under this context, women are blatantly deprived of acquiring leadership positions via unequal distribution of chances and opportunities (Goethals & Burns 77). This is despite of eliciting commendable work-related achievements and success. The glass ceiling acts as a barricade that prevents women from being hailed as managers and executives despite delivering good results and performances (Haslett, Geis & Carter 128). In addition to that, it is also evident that women are placed into positions or departments in which they cannot possibly harness their leadership skills (Goethals, Sorenson & Burns 77). They are subjected into roles that do not engage into actual corporate management and decision making. Therefore, in the event in which women are recommended for promotions, their skills and experience readily lag behind. Or in such cases, a woman must shoulder the entire burden of exerting efforts and energy to prove themselves, but with no assurance that they will be selected. But then again even if some women were able to secure their positions on the corporate hierarchy, Goethal, Sorenson and Burns shared that this is no less than a defense mechanism used to avoid accusations of gender discrimination and inequality (77). Aside from the glass ceiling, the persistence of the seemingly omnipotent â€Å"old boy network (Goethals, Sorenson & Burns 77)† is also instrumental in the under representation of women leaders. A critical examination of the old boy network clearly shows the strong attempt of men to protect their own interests (Sanchez et. al 240). There is the intention to keep power in the hands of the few and eliminate new players. This basically explains the degree of favoritism in promotions. Men often receive high preference compared to women not because they are better or more productive. Instead, this is just a way to preserve the patriarchal rule. Since majority of senior executives are men, their power legitimacy is highly acknowledged and recognized. This kind of prestige is then used by males to control, manipulate and safeguard their interests. Thus, to ensure that their power and authority shall remain, these executives are more likely to choose male protegees—individuals, who like them, present a common set of beliefs, ideologies and value systems. Lastly, the limited access of women to building social networks lessens their chances of being corporate leaders (Goethals, Sorenson & Burns 78). Goethals, Sorenson and Burns mentioned that â€Å"informal gatherings† is a way for women to connect with other individuals in the business organizations (78). It is through these activities that women can further improve their social and communication skills—two of the most significant traits that leaders should acquire. However, these opportunities are hardly given to women. Other than obstructing women to create meaningful relationships and camaraderie, this scenario also inhibits females from having their own mentors and role models (Klenke 185). Mentors and role models serve as a support system. Through them, valuable knowledge and insights are shared and transmitted. Mentoring relationships help potential leaders devise sound decisions and appropriate solutions. Unfortunately, this right is highly exclusive to men. The struggles and challenges faced by women leaders in the corporate system is yet another gender issue that should be readily addressed. Leadership roles should not be equated to gender-based functions. Equal rights and opportunities should be provided to both genders and should not be an exclusive privilege of men. It should be stressed and remembered that leadership efficiency is determined by skills and performances, never by gender. Works Cited Sanchez, Penny; Philip Hucles; Janis Sanchez-Hucles and Sanjay Mehta. â€Å"Increasing Diverse Women Leadership in Corporate America: Climbing Concrete Walls and Shattering Glass Ceilings. † Women and Leadership Transforming Visions and Diverse Voices Eds. Jean Lau Chin; Bernice Lott; Joy Rice and Janis Sanchez-Hucles. Massachusetts: Blackwell Publishing, 2007 Ely, Robin; Erica Foldy; Maureen Scully and The Center for Gender in Organizations Simmons School of Management. Reader in Gender, Work and Organization. Massachusetts: Blackwell Publishing, 2003 Goethal, George; Georgia Sorenson and James MacGregor Burns. Encyclopedia of Leadership. California: Sage Publications Inc, 2004 Haslett, Beth; Florence Geis and Mae Carter. The Organizational Woman. New Jersey: Ablex Publishing Corporation, 1992 Karsten, Margaret. Gender, Race and Ethnicity in the Workplace. Westport, CT: Greenwood Publishing Group, 2006 Klenke, Karin. Women Leadership. New York: Springer Publishing Company, 1996 Lemell, Yannick and Heinz-Herbert Noll. Changing Structures of Inequality: A Comparative Perspective. Canada: Mc-Gill Queen’s University Press, 2002 Ridgeway, Cecilia. Gender Interaction and Inequality. New York: Springer –Verlag New York Inc. , 1992 Spade, Joan and Catherine Valentine. The Ka

Free Essays on Red Mocassins

The Power of a Mother’s Love In the story â€Å"Red Mocassins† by Susan Power, she tries to get her readers to feel a certain way about specific characters in her story. The story pushes me to be annoyed with Joyce, and genuinely like Anna. Power portrays Joyce to be lazy, inconsiderate, selfish and, most importantly, a bad mother. The complete opposite of this is her cousin, Anna, who is loving, generous and nurturing. Several places in the text demonstrate the qualities of each of these two women. Because of this evidence in the text, it is obvious that this author wants me not to like Joyce, and feel compassion towards Anna. Power makes Joyce look like a bad mother right from the beginning of the story. Joyce is portrayed not to be â€Å"mother material† because Anna, her cousin, is the one working on Bernardine’s first Sioux costume. Power says in the text that â€Å"Ordinarily a mother would do this, but Dina’s was the next thing to useless. Joyce Blue Kettle had never gotten close enough to a needle to stick herself, let alone sew a costume† (409). A reader already looks at Joyce in a negative way because she should have been the one fulfilling this important tradition for her only daughter. Joyce is obviously jealous of her cousin Anna. Anna recalls stories of their childhood and how obnoxious Joyce was towards her. Joyce’s husband, Clifford, loved Anna, not Joyce, but Joyce soon changed that. Clifford bought Anna many little gifts when they were children. One time Clifford brought Anna a glass eye, and â€Å"It was too much for Joyce. She intercepted the gift, snatched it from the palm of my hand as I studied the green iris. She took Clifford over the same way, ordering him around, demanding his attention, and because I did not love Clifford, I let her keep him†(410). Joyce wanted everything Anna had, and again is portrayed to be someone I would dislike. However, in that particular instance someone coul... Free Essays on Red Mocassins Free Essays on Red Mocassins The Power of a Mother’s Love In the story â€Å"Red Mocassins† by Susan Power, she tries to get her readers to feel a certain way about specific characters in her story. The story pushes me to be annoyed with Joyce, and genuinely like Anna. Power portrays Joyce to be lazy, inconsiderate, selfish and, most importantly, a bad mother. The complete opposite of this is her cousin, Anna, who is loving, generous and nurturing. Several places in the text demonstrate the qualities of each of these two women. Because of this evidence in the text, it is obvious that this author wants me not to like Joyce, and feel compassion towards Anna. Power makes Joyce look like a bad mother right from the beginning of the story. Joyce is portrayed not to be â€Å"mother material† because Anna, her cousin, is the one working on Bernardine’s first Sioux costume. Power says in the text that â€Å"Ordinarily a mother would do this, but Dina’s was the next thing to useless. Joyce Blue Kettle had never gotten close enough to a needle to stick herself, let alone sew a costume† (409). A reader already looks at Joyce in a negative way because she should have been the one fulfilling this important tradition for her only daughter. Joyce is obviously jealous of her cousin Anna. Anna recalls stories of their childhood and how obnoxious Joyce was towards her. Joyce’s husband, Clifford, loved Anna, not Joyce, but Joyce soon changed that. Clifford bought Anna many little gifts when they were children. One time Clifford brought Anna a glass eye, and â€Å"It was too much for Joyce. She intercepted the gift, snatched it from the palm of my hand as I studied the green iris. She took Clifford over the same way, ordering him around, demanding his attention, and because I did not love Clifford, I let her keep him†(410). Joyce wanted everything Anna had, and again is portrayed to be someone I would dislike. However, in that particular instance someone coul... Free Essays on Red Mocassins The Power of a Mother’s Love In the story â€Å"Red Mocassins† by Susan Power, she tries to get her readers to feel a certain way about specific characters in her story. The story pushes me to be annoyed with Joyce, and genuinely like Anna. Power portrays Joyce to be lazy, inconsiderate, selfish and, most importantly, a bad mother. The complete opposite of this is her cousin, Anna, who is loving, generous and nurturing. Several places in the text demonstrate the qualities of each of these two women. Because of this evidence in the text, it is obvious that this author wants me not to like Joyce, and feel compassion towards Anna. Power makes Joyce look like a bad mother right from the beginning of the story. Joyce is portrayed not to be â€Å"mother material† because Anna, her cousin, is the one working on Bernardine’s first Sioux costume. Power says in the text that â€Å"Ordinarily a mother would do this, but Dina’s was the next thing to useless. Joyce Blue Kettle had never gotten close enough to a needle to stick herself, let alone sew a costume† (409). A reader already looks at Joyce in a negative way because she should have been the one fulfilling this important tradition for her only daughter. Joyce is obviously jealous of her cousin Anna. Anna recalls stories of their childhood and how obnoxious Joyce was towards her. Joyce’s husband, Clifford, loved Anna, not Joyce, but Joyce soon changed that. Clifford bought Anna many little gifts when they were children. One time Clifford brought Anna a glass eye, and â€Å"It was too much for Joyce. She intercepted the gift, snatched it from the palm of my hand as I studied the green iris. She took Clifford over the same way, ordering him around, demanding his attention, and because I did not love Clifford, I let her keep him†(410). Joyce wanted everything Anna had, and again is portrayed to be someone I would dislike. However, in that particular instance someone coul...