Plastic Industry Essay Example for Free

Plastic Industry Essay Yes Plastic Industries Inc should enter the home market because this market is new and untapped. Also it is 5 times higher than their current market. However a thorough Market Research needs to conducted before entering the home market which will be a reality check to  its profitability. When entering the home market first of all the Company should try to create positive attitude on the general public over the  visibility of the product since  it is observed in the home  market that the general public image  of plastic pipes is  that they are  easily breakable and would not  last as long as conventional pipe. Hence in order to solve this specific challenge the company should perform image building work through convincing the middle man. One of the best ways to win the market is through convincing the middle man to take and display the product in the eye caching location on the retail shop. As a result of this the plastics industries Inc. Can create positive attitude regarding the product. Also the advantage that Plastics Inc. Can highlight to the public is the fact that the price of plastic pipe is less than the metal one, hence the company can get acceptance in the home market through providing product at a lower price through penetration pricing strategy. The company can also set a low initial price in order to penetrate the market quickly to attract a large number of buyers and win a large market share. Thus looking at the various positive sides for Plastics Inc. It should definitely try to enter the home market.

Advantages And Limitations Of Each Source Of Finance Finance Essay

Advantages And Limitations Of Each Source Of Finance Finance Essay This assignment covers all detail about sources of finance. The aim of the research is to identify different sources of finance like short-term finance, medium-term finance and long-term finance. The first part of the assignment gives you an introduction about sources of finance. The second part covers short-term sources of finance and their advantages and limitations. The third part covers medium-term sources of finance and their advantages and disadvantages. And the last part covers long-term sources of finance and its merits and demerits. Sources of Finance Introduction As you know food is necessary for human life. Similarly finance is the heart of any business. It is most important for modern business, which requires huge capital. Finance could be needed for new businesses, when they recover a cash flow problem, new machinery, set up a new plant or takeover another business. Generally funds required for businesses are classified into short term, medium term and long term. In this section we look at the different source of finance and see the advantages and limitations of each. Business Leasing Public Deposit Mortgage Shares -Equity Share -Preference Share Debentures Retained Earning Commercial Bank Loan Borrowing Trade Credit Overdraft Bill Discounting Customers Advances Instalment Credits Loan from Co-operative banks Short Term Source Long Term Source Medium Term Source Sources of Finance Short Term Sources of Finance Definition When we want to establish a new business, it is essential to know the amount of finance required. Some sources are overdraft, customer advances, loan from co-operatives, cash and trade credit etc. that make money for short time. It is called short-term source of finance. Generally Short-term is only for 1 year. In this section we learn about above source of finance and their relative advantages and limitations. Short-term sources of finance: Trade Credit Overdraft Discounting of bills Customers advances Instalment Credit Loan from co-operative bank Trade Credit : Providing business customers with time to arrange for the payment of goods they have already received. This period is one of the interest free credit. It is a costly source of finance. Trade credit is used when the buyer is not able to pay the real cost of goods. 1Trade credit refers to credit granted to manufactures and traders by the suppliers of the raw materials, finished goods, components etc. Usually business enterprises by supplies on a 30 to 90 days credit. Advantages of Trade Credit: If new business start up has trade credit, they will not need more money in capital. It is a good idea to someone who want to start a new business with less money. You can buy goods and make payment later when you sold all the goods and get some money or make a good profit. The time period may be after 25-30 days. Business can look in good position without having any serious trouble in immediate payment, which may set them back. Trade Credit improve the cash flow and provide easy platform for business. With the trade credit, business can focus on other area like sales, marketing and other research. Trade credit is available only with purchase of raw material or finished goods. The term and conditions of trade credit very according to the custom and usage of trade. Disadvantages of Trade Credit: If repayments are not made by in time, the business will receive a very bad credit history. They will not trusted in the future, if your business require any loan or trade credit. If company has a good credit history, it will get trade credit but these can be hard to build up for new business. Overdraft : It is a common source of short term finance because of its flexibility. When borrowed fund are not require longer time they can pay easily and quick. The risks to the lender are less then a long term loan because it is very cheap. 2When a bank allows its depositors or account holders to withdraw money in excess of the balance in his account upto a specified limit, it is known as overdraft facility. This limit is granted purely on the basis of credit-worthiness of the borrower. Advantages of Overdraft: Flexible 3 An overdraft is there when you need it and cost is zero (in case of small fee) when you do not need. It allows you to make essential payments whilst chasing up your own payments, and helps to maintain cash flow. Quick It is very easy and quick to arrange, providing a good cash flow backup with the minimum of fuss. It allow to make essential payment whilst chasing up your own payment and help to maintain cash flow. You only need to borrow what you need at that time. Disadvantages of Overdraft: Cost Sometimes it carry very higher interest rates and fees then loan. This makes them very expensive. Recall The bank can take back the entire overdraft amount at any time if you have broken terms and conditions or it may happen if you fail to make other payment. Security Overdraft may need to be secured against your business assets, which put them at risk if you fail in repayment. Bill Discounting : Some bank provide short-term loan by discounting bill of exchange. In such cases bank deduct discount while making payment. The amount of discount is generally equal to the amount of interest for the remaining period of payment. The advantages and disadvantages from this source are following. 4When these document is presented before the bank for discounting, banks credit the amount to customers account after deducting discount. The amount of discount is equal to the amount of interest for the period of bill. Advantages of Bill Discounting: Availability of cash The drawer gets cash immediately by the discounting bill. He does not have to wait for the payment until the expiry of credit period mansion on the bill. Security Bank normally do not ask for any other security while making payment against the bill discounted. However if customer is interested, banks also grant him limit for discounting of bill. This limit is identify as a limit against discounting bill. Nature of liability for repayment Repayment of money advanced against discounted bill is the responsibility of the drawee of bill of exchange. In case drawee does not pay or refuse the pay, the drawer who got payment after discounting the bill is held responsible for payment. Disadvantages of Bill Discounting: Advance payment of interest While discounting a bill, bank deduct the discount and balance is credited in customers account. This discount is similar to the amount of interest for the remaining period of payment. Thus a person receiving money through discounting of bill has to offer advance interest on the amount of bill. Facility is subject to the parties credit Normally banks extend this facility after being satisfied with the credit of parties involved. Bank may be ask for some security. So, it is not a easy available facility. Problem when non-payment Bills not paid upon maturity are to be certified by Notary Public and a certain amount in the form of nothing is paid. Thus it became an additional burden. Customers Advances : The advance make by the customer against the value of order placed. Thus the remaining amount of goods to be supplied later. Let see more details about the advantages and limitations. Advantages of Customers Advances: Interest Free Amount offered as advance is interest free. Hence the funds are available without any involving problem. No Security The seller is not required to deposit any major security while demanding advance from the customer. Thus assets remain free of charge. Repayment Ones money received in advance will not be refunded. Hence there are no procedures for repayment. Disadvantages of Customers Advances: Limited amount Amount received from a customer is subject to the value of order. Borrowers demand may be more then the advance amount. Limited Period The period of advance amount is only up to the delivery goods. It cannot be renewed. Penalty Normally advances are subject to the condition that if goods are not delivered on time then order would be cancelled and advance amount would be refunded with interest. Instalment Credit : Instalment credit is a system under which a small payment is made at the time of taking the goods and remaining amount is paid in instalment. Generally instalment amount is including of interest. The advantages and limitations of this system are as under: Advantages of Instalment Credit: Ownership of asset Delivery of good is assured immediately on payment of down payment. Convenient payment of assets Costly assets which can not purchase directly with full payment can be purchase by instalment payment. Saving of one time investment If the price of asset is high and lumpsum amount is made then the business fund are blocked. In this case instalment credit leads to saving of one time investment. More facility for business If the facility of payment in instalment is available then business firm can afford to by new furniture, machinery or other necessary things. Thus, your business reputation looked in good condition by instalment credit. Disadvantages of Instalment Credit: Commitment for payment Payment in instalment is a commitment. So you have to pay your instalment in whatever condition of your business. Necessary to pay interest Payment of interest is necessary in this system. Generally sellers charge very high rate of interest. More interest If buyer fail to pay the instalment, seller sometimes impose penalty or additional interest. Loan from Co-operative bank : Co-operatives banks are good source of short-term finance. Membership is the primary condition for securing loan in this bank. This bank grant loans for personal and business purposes too. The advantages and limitations of this bank are as under: Advantages of Loan from Co-operative bank: These loans create a sense of thrift among the low-income group. Being a member of co-operative bank, the borrower can participate in the management. Loan generally granted at a lower rate of interest. Loan from this banks are easily available. Loans are given for good purposes that help to develop the financial and social status of the people. Sometimes these banks organise training program for member to familiars them with the various avenues of the business and regarding proper utilisation of loan money. Disadvantages of Loan from Co-operative bank: These loans are available only to members. Loan from this bank is available only for limited purposes. Co-operative banks depend on the supports of the government. So, government rules and regulations sometimes may be makes in trouble to the borrowers. These bank find it difficult to ensure repayment of loan money due to inadequate information about the need and utilisation of fund by the borrower. There is little scrutiny of the repaying capacity of the loan seeker at the time of granting loan. Medium Term Source of Finance Definition Medium term source of finance means fund does not require more then 3 years. Normally medium term funds are require by business for repairing and maintenance of machinery or other equipment. So firm get this finance from bank or other kind of source. Medium term source of finance: Leasing Public Deposit Mortgage Leasing : Leasing is the method of capital funding requirement. Leasing based on the principal that income is earned from the use of an asset. The advantages and limitations of leasing are following: Advantages of Leasing: Reduced initial cash flow The big advantage of leasing equipment is that the cost is spread over a number of years. You have not to pay the entire amount upfront. This can help to maintain cash flow. Poor cash flow is the main cause of small business and leasing can help you to keep it under better control. Budgeting Normally this is a fixed contract. So the amount can be worked into your business budget much more easily. Tax Advantages lease rentals are considered as an operating cost. So it is possible to deduct them from taxable profits. However, before the contract you should always check the equipment you are buying is eligible or not. Security When you lease the product, you are not owner of this product. It means the leasing company gives better security. You dont need any further security to be able to start a contract. Disadvantages of Leasing: No ownership Main disadvantage is that you are not the owner of the product. It means the leasing company is the owner during and after the lease. As you do not own the product, you are unable to sell it in the event it is no longer needed, and you cannot upgrade to a newer or better product without either paying off the remaining contract, or paying a large fee to cancel the contract. No sell As you are not owner of the product, you can not sell it. If you do not longer needed, you have to pay large fee to cancel the contract. Termination Leases are very difficult to terminate early. Long term expense Although leasing allow you to avoid paying a large amount, but after a long time it works out considerably more expensive. Over the period of standard lease, you pay the actual cost of product and other charges. Maintenance You are responsible for maintenance of the product. If you have not trained employee to fix the equipment, this could be more costly in the serious fault. Some leasing company will allow you to cover maintenance cost but you have to pay some extra amount. Commitment Once you signed a lease contract, you are committed to making payment for the entire lease period even you stop using a property. Public Deposit : It is very old and popular source of finance. When modern banks were not established, people used to deposit their saving with reputed business. The maturity period for public deposit is minimum 6 months and maximum 3 years. The advantages and disadvantages of public deposit are following: Advantages of Public Deposit: Easy to deposit The method of borrowing money from public is very easy. It does not require many legal formalities. It has to be advertised to be newspaper. Easily available If companies have good reputation, they are able to obtain funds directly from public without any more financial difficulties. Income tax purpose Interest paid on this deposit is a deductible expenses for income tax. Fix rate The rate of interest on this deposit is fixed, it helps the company to play trading on equity, if the company is earning more then the rate of interest paid on public deposit. Flexibility Public deposit bring more flexibility in the structure of the capital of the company. These can be raised when needed and refunded when not needed. Disadvantages of Public Deposit: Insecurity Public deposits have no charge on the assets of the company. So it may be not safe to deposit saving in those companies which are not very popular. Uneconomical The rate of interest paid on public deposit may be low but there are other expenses like commission, which make it uneconomical. Short period Public deposits are available mainly for short period. So company cannot depend on it for a long time. Misuse The management may misuse your deposit. So in this case it is not secure. Bad effect on capital market It is an easy and cheaper source of raising money. Thus, more money deposited with the companies, there will be less investment in securities. Hence the capital market will not grow. Mortgage : A mortgage is a loan specially for the purchase of property. The borrower can use theirs own property as security for the loan. The advantages and limitations of mortgage are following: Advantages of Mortgage: Tax advantage The interest payment on the mortgage are tax deductible. Good cash flow With the use of mortgage, you are able to access to capital that you would not normally have access with nominal up-front payment and the flexibility in management of repayment plan. Cash flow management Mortgage plan are pre-set, so you can make plan for future cash management. Disadvantages of Mortgage: Collateral The nature of a mortgage require you to pledge the purchased property to the lender. When the mortgage is repaid, the owner is obligated to release the mortgage and is require to make available any government formalities. Defaults The lender may define a variety of events that will constitute a default on the mortgage, including failure to make any payment on time, bankruptcy, insolvency and breaches of any obligations in the mortgage agreement. Try to negotiate an advance written notice of any alleged default, with a reasonable amount of time to cure the default. Long Term Source of Finance Definition Long-term source of finance are those that are need over a longer period of time. Generally time duration may be more then 5 years. Long-term finance are needed for fund expansion, set up new office, buying new business or fixed assets like furniture, building, machinery, land etc. Funds require for this business is called long-term finance. The amounts of long-term capital depend upon the scale of business and nature of business. Following various sources of long-term finance and advantages and disadvantages of each source. Long-term source of finance: Shares Equity Share Preference Share Debentures Retained Earning Commercial Bank Loan Borrowing Shares : Shares is the main source of long-term finance. The joint stock companies issue shares to the general public. These shareholders are the owners of the company. There are two types of shares (1) Equity Share (2) Preference Share. Company divides its capital into units of particular value like  £10 each or  £200 each. Each unit is called share. Equity Share Dividend on these shares is paid after the fixed rate of dividend has been paid on the preference share. The rate of dividend is not fixed because it is depend upon the profit available. The equity shareholders control the affairs of the company and have an unlimited interest in the companys profit. The advantages and disadvantages of equity share are following: Advantages of Equity Share: [ For Shareholders ] Income Profit The equity shareholders are the residual claimants of the profit. The company may add to the profit by trading on equity. Thus equity capital may get dividend at high in good period. Rights Equity shareholders have right for voting to right persons as directors who can control and manage the affairs of the company. Transferable These shares are transferable units. The value of equity share goes up in the stock market with increase in profit of the concern. Advantages of Equity Share: [  [5]  For Limited Company ] A company can raised fixed capital by issuing equity shares without creating any charge on its fixed assets. The capital raised by issuing equity shares is not required to be paid back during the life time of the company. It will be paid back only if the company is wound up. There is no liability on the company regarding payment of dividend on equity shares. The company may declare dividend only, if there are enough profits. If a company raise more capital by issuing equity shares, it leads to greater confidence among the investors and creditors. Disadvantages of Equity Share: [ For Shareholders ] Irregular income The dividend on equity share is subject to availability of profit. If there are preference shareholders, they get first dividend before equity shareholders. Equity shareholders may get no dividend if company has not enough profit. Capital loss During recession period, the profit of the company come down and the rate of dividend also come down. Due to low rate of dividend the market value of equity shares goes down resulting in a capital loss to the investors. Dilution in control Each sale of equity shares dilutes the voting power of the existing equity shareholders. Equity shares are transferable and may bring about centralisation power in few hands. Impossible trading If equity shares alone are issued, the company cannot trade on equity. Over capitalisation If company issue more equity shares may result in over capitalisation. In that condition dividend per share is low which make bad effect on investor. High cost It cost more to finance with equity shares then with other securities as the selling costs and underwriting commission are paid at a higher rate on the issue of these shares. Speculation Equity shares of good companies are subject to hectic speculation in the stock market. Their prices change frequently which are not in the interest of the company. Disadvantages of Equity Share: [  [6]  For Limited Company ] No trading on equity Trading on equity means ability of a company to raise fund through preference shares, debentures and bank loan etc. On such funds the company has to pay at a fixed rate. This enables equity shareholders to enjoy a higher rate of return when profits are large. The major part of the profit earned is paid to the equity shareholders because borrowed funds carry only a fixed rate of interest. But if a company has only equity shares and does not have their preference shares, debentures or loans, it can not have the advantage of trading on equity. Conflict of interests As the equity share holders carry voting rights, groups are formed to corner the votes and grab the control of the company. There develops conflict of interest which is harmful for the smooth functioning of a company. Preference Share Rising capital by issue of these shares is a most important method of rising long-term funds. Preference shares are the shares, which carry initial rights over the equity shares. These shares are receiving dividend at a fixed rate. All shareholders gets dividend regularly. The advantages and disadvantages of preference share are following: Advantages of Preference Share: Fixed income The dividend payable on preference shares is on fixed rates even if there is no profit. First right Preference shareholders have first right to get dividend. Thus they enjoy the minimum risk. Less capital losses As the initial right of repayment of their capital in case of winding up he company, it saves them from capital losses. Fair security Preference share are fair security for the shareholders during depression period when profit of the company are down. Disadvantages of Preference Share: No Voting right Preference shareholders have no any voting rights in the company. Fixed income The dividend payable on preference shares is on fixed rates even if the company earns higher profit. No claim on surplus amount The shareholders have no rights to claim on surplus amount. They can only ask for the capital investment in the company. Not secure They cannot be secure on the companys assets. Debentures : Whenever company want to borrow a large amount of money for long but fixed period, it can borrow from the general public by issuing loan certificate called debenture. The holders of the debentures are the creditors of the company. The total amount is divided into units of fixed amount. These are offered to the genera public to subscribe in the same manner as in done in the case of share. A debenture is issued under the common seal of the company. It is a written acknowledgment of money borrowed. For example, if company need  £5,000,000 for 10 years, it will issued debentures. Each cost of debenture may be  £100. Advantages of Debentures: Creditors Debenture holders are the creditors of the company. Allowing control over the company Debenture holders have no right either to vote or take part in the management of the company. Reliable Source These are repayable after a fixed period of time, the company can make the best use of money. It helps long term planning. Tax benefit Interest paid on debenture is treated as a expense and is charged to the profit of the company. Thus the company saves income tax. Safety Debenture are more secure. When the company is winding up, they are repayable before any payment is made to the shareholders. Disadvantages of Debentures: More finance more difficulty Debenture finance enables a company to trade on equity. But more finance leaves little for shareholders, as most of the profits may be require paying interest on debentures. Burden in time of depression During depression time the profit of the company decline. It may be difficult to pay interest on debenture. As interest goes on accumulating, it may lead to the closure of the company. Cant borrow money Usually debentures are secure. The company creates a charge on its assets in favour of debenture holders. So the company, which does not have own enough assets, they cannot borrow money by issuing debentures. Burden As the interest on debenture have to be paid every year whether there are profits or loss. It becomes burden in case of company incurs loses. Retained Earning : The part of the profit which is not distributed among the shareholders but is retained and is used in business is called retained earning. As per Indian company Act. Companies are require to transfer a part of their profit in reserves. The amount so kept in reserve may be used to buy fixed assets. This is called internal financing. Advantages of Retained Earning: Cheap There are no expenses behind earning capital from this source. There is no obligation on the part of the company either to pay interest or pay back the money. It can safely used for business. Financial Stability A company which has enough reserves can face ups and downs in business. Such companies can continue with their business even in depression, thus building up its goodwill. Good for shareholders Shareholders may get dividend out of reserves if the company does not earn enough profit. Due to reserve, there is capital appreciation, i.e. the value of shares go up in the share market. Disadvantages of Retained Earning: If Huge profit This method of financing is possible only then there are huge profits and that too for many years. Dissatisfaction When funds accumulate in reserves, bonus shares are issued to the shareholders to capitalise such funds. Hence the company has to pay more dividend. By retained earning the real capital does not increase while the liability increases. In case bonus shares are not issued, it may create a situation of under-capitalisation because the rate of dividend will be much higher as compared to other companies. Monopoly Through ploughing back of profits, companies increase their financial strength. Companies may throw out their competitors from the market and monopolize their position. Mis-management of funds Capital accumulated through retained earnings encourages management to spend carelessly. Commercial Bank Loan : Some commercial banks giving loans for a long period. i.e. for more than ten year. The period of repayment of long is extended at intervals long period. Commercial banks provide long term finance to small scale units in the priority sector. Advantages of Commercial Banks Loan  [7]  : It is a flexible source of finance as loans can be repaid when the need is met. Finance is available for a definite period, hence it is not a permanent burden. Banks keep the financial operations of their clients secret. Less time and cost is involved as compared to issue of shares, debentures etc. Banks do not interfere in the internal affairs of the borrowing concern, hence the management retains the control of the company. Loans can be paid-back in easy installments. In case of small-scale industries and industries in villages and backward areas, the interest charged is low. Disadvantages of Commercial Banks Loan : Banks require personal guarantee or pledge of assets and business cannot raise further loans on these assets. In case the short-term loans are extended again and again, there is always uncertainty about this continuity. Too many formalities are to be fulfilled for getting term loans from banks. These formalities make the borrowings from banks time consuming and inconvenient. Borrowing 8 : Most business rely on borrowings as well as equity to finance operations. Lenders enter into a contract with the business in which the rate of interest, dates of interest payment, capital payments and security far the borrowing are clearly stated. In the event that the interest payment or capital payments are net made on the due dates, the lender will usually have the right, under the terms of the contract, to seize the asset on which the loan is secured and sell them in order to reply the amount outstanding, security for loan may take the form at a fixed charge on particular assets at the business or a floating charge on the whole at its assets. A floating charge will float over the assets and will only fix on particular assets in the event that the business defaults on its borrowing obligations. Advantages of Borrowing  [9]  : Local savers may provide less costly funds; an important habit among clients and the public is rewarded. Lower interest loans provide experience for the company in borrowed funds Local bank become familiar with micro and small enterprise potentials. Access to larger sums more quickly based on track record. Allow longer term projections than grants Provides a discipline similar to that of micro and small enterprise clients. Disadvantages of Borrowing : Too many subsidized loans can retard move to market rate. Loans may be dollarized in inflationary situation. Local banks may not be willing to be cooperative.

The Internet And The Network Society Media Essay

The Internet And The Network Society Media Essay Throughout the past three decades, a plethora of major social, technological, economic, and cultural transformations (Castells, 2010: p. xvii) have combined resulting in the emergence of a new society the network society (see Castells, 2001a, 2001b, 2008, 2009. 2010; Hardt and Negri, 2000; van Dijk, 2006). Despite some commentators suggesting that the etymology of the term network society is extremely vague (Cavanagh, 2007), it is important, at this point, to provide a definition before proceeding to the subsequent discussion of changes which have occurred within and as a consequence of the network society. Manuel Castells (2001a), arguably the most significant theorist in this field, provides in my view the most concrete definition describing the network society as a society where the key social structures are organised around electronically processed information networks (p. 4). In this sense, the infrastructure of the network society is determined by the relationship between so cial, technical and media networks (van Dijk, 2006). It is beyond the scope of this paper to provide an all-embracing, comprehensive review of the network society and all of its components, therefore, the fundamental changes which have occurred vis-à ¡-vis communication will form the focus of this section. In the network society, face-to-face interaction remains the most prevalent and, arguably, the most important form of communication for various reasons. However, a number of technological devices have supplemented and, in part, replaced this form of communication (van Dijk, 2006). It is important to note that the rise in wireless devices, such as the mobile phone, have had a profound effect on the methods by which social beings interact. For example, in 2009, mobile phone use in the United Kingdom was almost ubiquitous (81%) (Office for National Statistics, 2010). In regards to mobile phone use amongst children, it was reported that more than half (56%) of those aged 8 11 had used a mobile device in 2007, primarily for text messaging (61%). Meanwhile, for those aged 12 15, mobile phone use was near ubiquitous (90%) with a significant majority (87%) sending at least one text message per week (Office for National Statistics, 2008). Thus, with the rise of wireless networks have enable d people to apply the telephone for communicatory purposes in alternative ways; for example the mobile phone allows and is increasingly used for text messaging, multimedia messaging, and Internet access. According to Castells (2010), we have witnessed an increasing technological convergence between the Internet and wireless communication and multiple applications that distribute communicative capacity throughout the wireless networks, thus multiplying points of access to the Internet (p. xxvi). A key example of such expansion is the recent proliferation of the iPhone which is estimated to surpass 100 million sales in 2011 (Chen, www.wired.com, 2010), and whose users define it as divine (Campbell and La Pastina, 2010), the Jesus phone, and the holy grail of all gadgets (Danneskjold, 2007; also see Campbell and La Pastina, 2010); as Apple proclaim when advertising the recently launched iPhone 4, This changes everything. Again (Apple, www.apple.com, 2010). However, the iPhone does not fundamentally change communicatory practices, but rather much like the Internet it supplements them offering itself as a tool which one can apply when seeking alternative routes of communication. Thus, communication is supplemented rather than replaced by the rise in technological devices, in this sense, technological devices do not influence social change (Castells, 2010), but rather, create a pathway through which social change can occur. This ideology rests upon the premise that a reciprocal relationship exists between people and technology, after all, technology would cease to exist without the presence of people. Let me now turn to the proliferation in Internet use which has occurred over the past decade, its profound influence on communication, and its position within the network society. Since the turn of the twenty-first century, Internet use has grown exponentially by almost 444 per cent (Internet World Stats, www.internetworldstats.com, 2010). As of this writing, approximately 29 per cent of the global population are currently connected to the Internet; furthermore, in the United Kingdom, a recent survey found that Internet use currently stands at 70 per cent, an increase from 58 per cent in 2003 (Dutton et al., 2009). As a result, the Internets role in the mediation of everyday practices and activities is expanding, for example, various studies have reported that we are increasingly using the Internet for banking (Wood and Williams, 2007), shopping (Wood and Williams, 2007), listening to and purchasing music (Jooyoung Lee, 2008), dating or e-dating (Couch and Liamputtong, 2008), and communication particularly through blogging (Stern, 2007; Ekdale et al., 2010) and social networking (Boyd, 2001, 2007, 2008; Boyd and Ellison, 2008; Houghton and Joinson, 2010; Patc hin and Hinduja, 2008, 2010). In regards to communication, the Internet amalgamates both data communication and mass communication (van Dijk, 2006). In particular, such integration has occurred since the emergence of the World Wide Web which has resulted in the mass communicative character of the Internet becoming increasingly visible, for example, one need only examine the explosion of web pages created by organisations (.org), corporations (.com and .co.uk), governing bodies (.gov), institutions, and the increasing field of user-created content (i.e. blogs, forums, bulletin-board systems (BBS), and non-profit sites such as Wikipedia.org or Wiki Leaks). Thus, under the paradigm of the network society one can posit that the Internet presents itself as an integrated network (Castells, 2001a, 2001b, 2004, 2008, 2009, 2010; van Dijk, 2006). EXPLAIN INTEGRATED NETWORK HERE. The Internet thus fundamentally changes the character of communication through the integration of text, images, and sounds in the same system, interacting from multiple points, in chosen time (real or delayed) along a global network, in conditions of open and affordable access (Castells, 2010: p. 356). Despite its fairly recent proliferation, an expansive body of literature has emerged analysing the effects of increased Internet use particularly concerning communication and sociability -, the following section will now engage in a critical overview of the salient arguments put forth. Identity has been subject to widespread theoretical and empirical inquiry for over half a century, dating back to Eriksons (1950) path-breaking work (Schwartz et al., 2010). Eriksons work triggered a wave of academic inquiry into identity development, most of which attempted to delineate personal identity (Cà ´tà ©, 2006). However, despite an expansive database of literature on the subject, identity is still recognised as an ambiguous and slippery term (Buckingham, 2007: p. 1). Its ambiguity arises from its application in many different contexts and for many different purposes (ibid, 2007), as a result, divergent accounts of identity have emerged which lead to confusion over what identity actually constitutes. For the purposes of this essay, the conception of the self will be examined and the ways in which the self is presented and the impression managed in social situations. Primarily grounded in contemporary Western culture, cultural practices (Boyd, 2001), and Western ideology, a plethora of conceptions of the self have emerged. The concept of identity frequently refers to, at least, two conflicting aspects of the self. First, there exists the internalised self, and second that which is the projected version of ones internalised self (ibid, p. 21). This distinction has been constructed by researchers in various ways, for example, political economist and moral philosopher Adam Smith (1976/1760) divides identity into the object self and the acting self, Mead (1934), meanwhile, distinguishes between the I and the me whereby the me connotes an individuals social identity of which the I become conscious in the early psychological development of the child, or as Giddens (1991) puts it, the I is, as it were, the active primitive will of the individual, which seizes on the me as the reflection of social ties (p. 52). Psychoanalysis has also concerned itself wi th conceptions of identity, for example, the pioneering work of Sigmund Freud (1974/1923) . . . insert Freud In spite of the evident differences which persist between these quite divergent accounts of identity, they all recognise that the self is a complex, muddled concept due to its separation between internal notions and external ones. However, an alternative model proposed by French psychoanalyst Jacques Lacan (1968) puts forth a suggestion that no internal self actually exists, but rather individuals only possess external selves. Writing in the 1950s, Erving Goffman (1959/1990, 1963) provided a dramaturgical account of social interaction whereby face-to-face interactions, in an array of social settings, were hypothesised as akin to a theatrical performance. Goffmans model suggests that all social interactions can be hypothesised as a series of interactive performances, where the actors and their presentations are in a flux altering their presentation of selves (Goffman, 1990) based upon their assumptions of what is acceptable in a particular situation and the feedback they receive from their audience (Boyd, 2001). Moreover, people perform all aspects of themselves, not just their ideas. An example of this can be located in the writings of Judith Butler (1990) who suggests that whilst sex is a biological trait and thus cannot be altered unless one undergoes a medical operation to remove genitalia people perform their gender (Butler, 1990). Thus, Drawing from Goffmans dramaturgical model, two fundamental components exist concerning the passage of social information between individuals (Boyd, 2001). The ability of an individual to convey information explicitly rests upon the expression that he gives and the expression he gives off (Goffman, 1990: p. 14). The first connotes traditional communication practices such as verbal symbols in order for the actor to convey the information in a coherent manner. The second involves a wide range of action that others can treat as symptomatic of the actor (ibid, p. 14). This may include body language, facial expressions, gestures, or interaction with the immediate environment. Thus, social messages are not simply a set of factual data (Boyd, 2001), but an ongoing negotiation in communication relying on both the signals presented by the actor as well as the signs perceived by the observer (p. 23). A further component of Goffmans theory is the concept of the body. Indeed, in everyday interact ions the body is of integral importance when we perform our identity. Primarily occurring in face-to-face interactions, we utilise our bodies as tools whereby, conveying to other people, we use our bodies to project information about ourselves (Boyd, 2007: p. 11). In doing so, we wear appropriate clothing, make considered movements, make important use of objects or props in Goffmans terminology in our immediate environment, and convey messages through suitable gestures, facial expressions, and body language. Erving Goffman defines these processes as impression management (Goffman, 1959). When one is indulging in impression management, albeit unconsciously at times, they are attempting at best presenting themselves as what the audience Among the most notable developments which have occurred on the Internet over the past decade, and particularly the past few years, is the exponential increase in social network sites (SNSs) (Choi et al., 2010). Sites such as Facebook, MySpace, Netlog, and Bebo have attracted millions of users across the globe, many of whom integrate this form of social networking into their everyday practices (Boyd and Ellison, 2008; Kreps, 2008). In the recent Oxford Internet Survey, for example, social networking emerged as the most popular new application amongst Internet users (aged 14+) in the United Kingdom with almost half (49%) of users reporting the creation or update of a social networking profile, up from only 17 per cent in 2007 (Dutton et al., 2009). In regards to children and teenagers, Lenhart et al., (2010a) discovered that the use of social network sites had increased significantly since 2006 where just over half of teens (aged 12 to 17) (55%) indulged in on-line social networking co mpared to almost three-quarters (73%) as of 2010 (Lenhart et al., 2010). On the basis of such widespread diffusion, commentators have suggested that the explosion in the popularity of SNSs is due to the freedom with which an individual can construct a personal profile page to represent themselves and interact with others (Patchin and Hinduja, 2008, 2010). At a basic level, social network sites allow individuals to create digital representations of themselves (Patchin and Hinduja, 2010: p. 199) through posting biographical information, compiling personal journals and blogs, indicating likes and dislikes, demonstrating their interests, and embedding multimedia (i.e., video, pictures, and music or audio). Thus, SNSs centre on the profile (Tufekci, 2008), within this profile the most significant point where identity is managed and performed is an individuals About Me section. The about me section is a reserved space on a profile where a user can . CONTINUE As has already been noted, in an effort to make a good impression, individuals survey the immediate area, examine how other people are acting, and make a rational choice on the appropriate performance for that particular social situation this rational choice may indeed be drawn from an established repertoire of performances which have been applied in the past (Goffman, 1959, 1967; Boyd, 2007, 2008). During the performance, people mould their behaviour depending on the feedback and reactions they receive, thus attempting to increase the likelihood of being perceived by their audience as they intend. These processes are what Erving Goffman (1959/1990, 1967) defines as impression management and the presentation of self. Mediated environments, such as those that the Internet produces, like social network sites formalise and fundamentally alter the identity processes of self-presentation and impression management (Boyd, 2008: p. 119). As a result, children and teenagers in particular face a complex challenge whereby they must formally write themselves into being (Sunden, 2003: p. 5) through the elaborate task of creating profiles which complicates impression management processes due to the limited nature of feedback in on-line environments such as MySpace and Facebook. In his groundbreaking text, The Presentation of Self (1959), Goffman exquisitely formulates a theory of social interaction in which he details the methods individuals apply to take into account the social environment and the role which they are functioning in it to use body language, gestures, speech, facial expressions, and other people in order to convey an impression. However, primarily due to the time period, what Goffman does not account for or, indeed, foresee is the impact technology would have and the way in which mediated situations will fundamentally impact upon the traditional art of impression management and presentation of the self. A key point here, is, the embodiment aspect of Goffmans theory. In the borderless world (OÃÅ'ˆqvist, 2009) of the Internet, bodies, in the corporal sense, do not exist thus obscuring the immediate, physical identity of the individual in question, moreover, CONTINUE!. Thus, in order to exist in mediated environments, for the first time in history, humans have to write themselves into being (Sunden, 2003). For social network sites, this entails the formation of a profile page and adding and fleshing out the fields as an act of self presentation. The sexual grooming of children is not a new phenomenon, neither is the conceptual application of the term grooming. In fact, the term has been in circulation for a considerable period of time, for the most part applied by psychologists in efforts to analyse patterns of deviant sexual behaviour (McAlinden, 2006). The The findings support the view that the Internet is establishing itself as a powerful tool for the formation of new social relationships by enabling some individuals to meet new people and make new friends, whom otherwise they would not have met. (Dutton and Di Gennaro, 2007: p. 593) For the purpose of this paper I will concentrate on only one component of the network society which is experiencing radical change, that is, communication.

Essay --

Over the course of a lifetime many individuals do not get the chance to reach 100 years old. There are many environmental influences as well as human behaviors that contribute to one’s expected life span. Citizens in today’s society are working towards extending their natural life. One’s personal health, well-being and overall life course are a few factors that play a major role in the aging process. This document is a biography of 100 year old Porcha Petteway’s life course. Personal data, accomplishments, professional agencies, jobs and careers held will be discussed. People she helped, her legacy, life during her senior years and daily regiments that assisted in reaching 100 will also be conversed. Finally, her end of life journey, activeness during her senior years along with contributing environmental influences and behaviors that extended her life span will also be revealed. Porcha Petteway was an African American female and devoted Christian with many accomplishments in her lifetime. An autobiography has been written detailing what life was like for her with an emphasis in her senior years. It is the year 2084 and Porcha Petteway has passed away at the age of 100. Up until the day she passed Porcha was married to her husband for 73 years. They had two children together both girls. The life event of marriage allowed her to obtain many financial resources than those of the single population. Being married allowed Porcha to participate in private pension plans due to their lifetime income being combined and much higher than usual. She was able to live a life full of greater satisfaction as an advantage of being married. As Porcha entered old age her family structure remained rich, certain, close and tight knit. She had an unp... ...self is to not stress over things beyond her control. There are many environmental influences as well as human behaviors that contribute to one’s expected life span. Health and lifestyle are two major factors that play a role in determining what life would be like during the senior years of life. There are many advantages to having a strong social support network that consists of caregivers paid and unpaid. Seniors with this tend to live longer, remain independent and stay active in their later years. Citizens in today’s society are living longer due to technology, medications and an overall healthier lifestyle. Many reach the age of 100 but the maximum human life span is 120 years old. One’s personal data, career choices, environmental influences and amount of active interactions will determine how those of the older population will experience the aging process.

Sophocles :: essays research papers

Sophocles was born in Colonus, near Athens, c.497 B.C. Sophocles father was a wealthy armorer named Sophillus. When he reached adulthood he was already established as a great tragic playwright, and the citizens of Athens loved him. He was nicknamed Attic-bee by the Athenians because he could take pure honey from words. Sophocles was born in Colonus, near Athens, c. 497 B.C. Sophocles father was a wealthy armorer named Sophillus. Sophocles had a good childhood. Sophocles, at age sixteen, led a boy's chorus for the victory celebration over defeat of the Persians at Salamis. When he was twenty-eight, he beat Aeschylus in a dramatic contest. Already Sophocles was showing true talent in play writing. At this time he also wrote poetry, none of which has been recovered. As a young man Sophocles was popular, handsome, a good athlete, and a great writer. When he reached adulthood he was already established as a great tragic playwright, and the citizens of Athens loved him. He was nicknamed Attic-bee by the Athenians because he could take pure honey from words. Sophocles had many friends, one of which was the historian Herodotus. This friendship may be a reason that we know so much about Sophocles. After a long and prosperous career, he died of old age in Athens at the age of ninety. Sophocles wrote 123 plays, and won 24 dramatic victories for Athens. Of his 123 plays, only seven are preserved in entirety. However, there still remains a large portion of his satyr Ichbeutae that remains intact. His seven plays are Ajax, Antigone, Electra, Trachiniae, Philoctetes, Oedipus at Colonus, and Oedipus Rex. Sophocles went through three artistic periods. The first, his earliest years, were influenced greatly by Aeschylus. Ajax was produced in this period. The second was in a "harsh, contrived" style. Antigone was produced during this period. He produced all his other plays in his mature years, or his third period.

Columbine High School Shooting Essay

Tuesday, April 20, 1999, was a turning point in the lives of many Columbine students and families. Eric Harris and Dylan Klebold, two former students at Columbine High School, went to school on that day for one purpose, to annihilate the school building as well as the student body. Although Eric and Dylan’s bombs did not detonate, they still succeeded in destroying the lives and families of the twelve students and the one teacher that died. The Columbine High School shooting occurred because of the premeditation of the shooters, the event of the school, and the results of the shooting. Eric and Dylan were just like most kids now a days entering high school. They came not knowing what to expect and soon realized no one even cared that they were there. They were bullied and picked on all the time. Eric and Dylan started a club called the Trench Coat Mafia which was known for its violent and vulgar language. Sometimes they would walk around school wearing trench coats to make the m seem stronger and to â€Å"protect† themselves in a way. Entering tenth grade was sort of the same for them, but it seemed to get worse quick. They started to participate in drinking, smoking, and petty crimes to make them more popular. The only people they got popular with were the police because they were constantly arrested for breaking into cars, homes, and stealing from stores. Eric over the course of all this developed serious anger problems and began taking Zoloft, a depressant, to make it better, but he started abusing the drugs and selling them for money. They made videotapes in Dylan’s basement showing them making pipe bombs and other explosives and talking about killing sprees. When they finally decided that they were going to do a killing spree in Columbine, they made more videos apologizing to their parents and other people and showing their ammunition. On Tuesday, April 20, 1999, Eric and Dylan left their houses as if it were a normal day, but the night before they had packed their book bags and some duffle bags with guns, rifles, explosives, pipe bombs, and 7-8 actual bombs. It was a normal day until around 11:00 a.m., Eric and Dylan entered the cafeteria with two rifles in hand firing random s hots everywhere. People scrambled to get out of the cafeteria, some thinking it was a joke and others realizing it was real. When the cafeteria was empty, they set up two bombs at opposite ends of the cafeteria. When they did not detonate, they were mad. After this first mishap, they ran across the school campus looking  to shoot anyone in sight and then they reached the library. The library is where they kill 7 out of 13 people. They taunted and fired random shots to scare the students that scrambled under the tables trying to protect themselves. Some were successful and some were not. After the library they returned to the cafeteria and this is where they committed suicide with one of the pipe bombs. The result of the shooting brought a devastating feeling on all the families and thankfulness to the families of the students that were not harmed. â€Å"Eric and Dylan are responsible for what they did, but Columbine is responsible for creating Eric and Dylan†. The event of Columbine still haunts us today with some of the more recent school shootings such as Sandy Hook Elementary. We will always remember what happened that Tuesday and try to prevent this ring of school shootings that seems to keep growing larger and larger from occurring anymore. The Columbine High School shooting occurred because of the premeditation of the shooters, the event at the s chool, and the results of the shooting.

Statistics in Business

Statistics is a way of gathering, analyzing, interpreting and presenting data so that it becomes more meaningful. It helps convert raw data into useful information. Statistics is therefore a collection of information. Statistics can be presented in graphical form to make it more appealing and easily understandable by the users. Statistics can be descriptive or inferential. Descriptive statistics have to do with methods in a data set that utilizes numerical and graphical to look for patterns to summarize the information revealed in a data set, and to present the information in a convenient form. The four elements of descriptive statistical problems are the population or sample of interest, one or more variables (characteristics of the populations or sample units) that are to be investigated, Tables, graphs, numerical summary tools, and the identification of patterns in the data. Also there are Inferential statistics that utilizes sample data to make estimates, decisions, predictions, or other generalizations about a larger set of data. There are 5 elements of inferential statistical problems: The population of interest, one or more variables (characteristics of the population units) that are to be investigated, the sample of population units, the inference about the population based on information contained in the sample, and a measure of reliability for the inference. When it comes to the role of statistics in business decision making it is applied in many ways in terms of consumer preferences or even financial trends. For example, managers across any type of business unit formulate problems, they decide on a question relating to the problem and then form a statistical formulation of the question is used to determine answers to all of the above. An example of a business question may be how many calls are answered on average in a call center and how can we increase the numbers of calls answered per hour. Another example may be how we can increase the number of accounts.