Communication Essay Example | Topics and Well Written Essays - 2000 words - 4

Communication - Essay Example Here, the authors provide detailed information about how effectively communication can be used in strengthening a healthier interpersonal communication. I would like to concur with the argument that effective interpersonal communication is a very important skill which everyone should possess. As they explain, it can be of a great benefit in determining how conducive an environment is. In conclusion, Steven and Susan are very accurate in the manner they discuss about communication. The whole chapter is equipped with viable information which can be of great importance when understanding exactly what communication is. As the authors emphasize, it is crucial for everyone to have listening skills. In fact, this is the most fundamental skill which everyone should have. Once they can learn to listen to one another, it will be much possible for them to understand one another and be able to speak in one voice as they strive to accomplish a common

The reality of the 1920s in the US Essay Example | Topics and Well Written Essays - 1000 words

The reality of the 1920s in the US - Essay Example Advances in communication also signified this decade, as the radio was invented leading to establishment of radio stations and commercial radio networks. Coupled with introduction of long distance telephones, this led to opening up of the rural areas.1 Prior to this boom, there was a dark period at peaking in 1919, in the labor market. This was initiated by a universal strike of the entire workforce in the completely steel industry in America and all workers in Seattle. This crippled the economy as thousands of workers and consumers were affected. Employers were faced with the challenge of remaining firm against demands from the workers as a warfare based on class threatened to come up. Moreover, just two years earlier, in Russia, there had been a Communist revolution and this made employers threaten violence upon workers if they refused to return to normalcy. Nevertheless, the situation was salvaged by Hubert Hoover, then Commerce Secretary, who was able to talk industrial leaders i nto voluntarily raising production and wages in order to restore the economy. It is crucial to note that the strikes moved the American government to react strongly against such radical movements, since the Communist Revolution still lingered in people’s minds causing a certain intrigue, this came to be recognized as the Red Scare phase.2 On the political front, the decade featured three presidents Woodrow Wilson, Warren Harding, Calvin Coolidge and Herbert Hoover. Its beginning was marked by elections that brought Harding into power with Coolidge as his running mate. World War 1 had just ended and people were rearing for a return to normalcy considering the labor problems, rise in immigration and racial strife that were rampant earlier on. The 1920s saw the final participation of U.S in the League of Nations, where President Wilson convened the Council as provided for in the League’s Act that the first assembly be summoned by the President of the United States. Notabl y also, the 18th Amendment of the U.S Constitution came into effect prohibiting the making, selling and possessing of alcohol. In 1924, the National Origins Act came into effect, reducing the number of immigrants to U.S to 150,000 per year with the aim of the legislation being to let the more desirable immigrants from western and northern Europe, into America, in larger numbers (â€Å"1920s Politics†). In addition, of significance through this decade as well, is the Harlem Renaissance that was the flowering of the African American culture through creative arts. It emerged from Harlem, a district within New York but grew to include other areas, where the blacks attempted to create a different perspective of their race through literary, theatrical, visual arts and musical works. This awakened a certain consciousness that led to redefinition of the white stereotypes, and rising of civil rights movements aimed at affording blacks new socio-economic opportunities and uplift the ra ce while developing their pride. Avant-garde artists from Europe experimented with African art, further giving esteem to the African Americans. Initially referred to as the New Negro Movement, the Harlem Renaissance saw African Americans migrating from the South to the northern areas where things were more prosperous.3 Within 1920, in August, came the

Financial Management Of The Tottenham Hotspur Plc Finance Essay

Financial Management Of The Tottenham Hotspur Plc Finance Essay Tottenham Hotspur is one of the famous Football clubs in England; the club had huge fan base reaching 20 million people worldwide and almost 2.1 million in UK, how ever the current stadium capacity is only 36,500 fans. The one Hotspur membership scheme the club created attracted over 70,000 fans. Since one of the revenues sources is attendance, the club starts thinking of expanding or building new stadium to increase the number of fans attending the games. The quality of the strikers are also critical, and usually clubs loses some of their players during the year, therefore need to replace them with better quality if possible and that costly too. The current Enterprise value of the club is 156 million, with Net Debt / EV of 0.12 and revenue of 75 million, in addition to that, the club Avg.net Goals ( 1998-2007) was -1.9 (December 31, 2007)  [1]   Such situation ranks the club 6 among other clubs. Mr. Daniel the chairman is about to take a very important business decisions which will drive the success of the club in the coming 13 years. The chairman has to decide if the stadium development plans made sense, and how best to proceed in the player acquisition market as well  [2]   It goes without saying that any further investment should be justify by the return on investment, therefore the chairman should take in to consideration all the financial aspects such as revenue and cost. As one of the most a manager can make is the capital decision. This key decision requires spending now in order to acquire long-lived assets that will be source of cash flow in the future a successful capital investment program will contribute to the firms financial performance for many years.  [3]   Executive Summary: In this case analysis I will try to answer three important questions which can be considered as the base of above mentioned capital investment program Mr. Daniel can set for Tottenham Hotspur club for the coming years. Is Tottenham at the current stock price of à ¢Ã¢â‚¬Å¡Ã‚ ¤ 13.80 fairly valued? And to answer such question financial evaluation using DCF should be conducted assuming that Tottenham continues in its current stadium. What will be the value of the chairman decision to build new stadium? And also a DCF should be conducted taking in to consideration the increase on Revenues and capital expenditure. What will be the value of the chairman decision to sign a new striker? Taking in to consideration the cost to be paid to the formal striker club and the running cost of the striker him self once he join Tottenham. Since the purpose of an investment is to get more back, over time, than you put in. One of the most common valuation criteria, which satisfy the above condition, is called NPV. Net Present Value (NPV) (NPV =Present Value of Cash Inflows Present Value of Cash Outflows Decision Rule:  [4]   If NPV>0, then accept the project If NPV=0, then indifference position, go no go situation If NPV Based on the above, and my deep analysis my findings and recommendations are as follows: Tottenham Hotspur current stock price is over valued, Their Enterprise value as a result of DCF is 107.14 Million à ¢Ã¢â‚¬Å¡Ã‚ ¤, therefore the Value per share is 9.73 à ¢Ã¢â‚¬Å¡Ã‚ ¤,  [5]   Tottenham Hotspur Enterprise value of 107.14 Million à ¢Ã¢â‚¬Å¡Ã‚ ¤, confirm its rank as No.6 Just after Newcastle United and before Everton,  [6]   Investing à ¢Ã¢â‚¬Å¡Ã‚ ¤250 million in building new stadium is not visible or profitable , DCF based on incremental increase in revenue and operating cost due to Stadium resulted in negative NPV (-60.12)  [7]   Investing à ¢Ã¢â‚¬Å¡Ã‚ ¤20 Million as a cost of acquiring new striker in addition to his high running cost also is not visible or profitable. DCF based on incremental increase in Broadcast and others, and operating cost due to acquiring new striker resulted in negative NPV (-23.5)  [8]   All these questions and comprehensive analysis and recommendations will be included in the main report. The main report and questions Answers : Part one: At its current stock price of à ¢Ã¢â‚¬Å¡Ã‚ ¤13.80, is Tottenham fairly valued? To answer this question we should conduct a company valuation, and calculate the Enterprise value (EV) of the company then divide the EV on the total Number of shares. In addition to the available data mentioned in both the balance sheet (Dec.2007) and income statement of Tottenham  [9]  and in order to be able to calculate the change in working capital, the following major assumption has been taken during the evaluation, In order to calculate the change in working capital i calculate it for the first year, then calculate it as % or revenue then I apply the % for the remaining years,  [10]  using this assumption enable me to calculate the Free cash flow and then discount that cash flow using the discounted factor 10.25, to reach Enterprise Value (NPV) of à ¢Ã¢â‚¬Å¡Ã‚ ¤107.14 million out of that the Terminal Value and the PV were calculated. Since the company under long term debt of à ¢Ã¢â‚¬Å¡Ã‚ ¤43.08 million and having à ¢Ã¢â‚¬Å¡Ã‚ ¤26.29 million as Cash and equivalent their Equity value is à ¢Ã¢â‚¬Å¡Ã‚ ¤90.35 million and accordingly their share value is à ¢Ã¢â‚¬Å¡Ã‚ ¤9.73.  [11]   It is clear that Tottenham share value is over valued and may be that because of commercial issues related to stock market. As a recommendation the management should start looking to find solutions where by the revenue can be increased with a strict control in operating Expenses, in order to increase the cash inflow versus the cash outflow. This will be reflected on their Annual net Income, and consequently on their share price. Part 2: One of the major resources of Tottenham Revenue is the attendance, and their current stadium capacity is limited to 36,500 fans only, however they have about 2.1 million fans in UK, in addition to that they launch an incentive program to their fans One Hotspur Membership scheme which attract over 70,000 fans.  [12]  That is why the club start thinking to build a new stadium which will cost à ¢Ã¢â‚¬Å¡Ã‚ ¤250 million to be paid in two equal installments over two years, such a decision need to be challenged in term of the return as revenue and Net profit , therefore New stadium DCF analysis was conducted to obtain the NPV of the project. The whole scenario was built on the following assumption: Since the cash out (à ¢Ã¢â‚¬Å¡Ã‚ ¤250) will be paid to generate cash in as revenue, so I only took in to consideration the INCREMENTAL increase in revenue( Attendance and Sponsorship only) and the INCREMENTAL increase in operating Cost using the forecasted growth as mentioned in the case  [13]  due to the new stadium. The (à ¢Ã¢â‚¬Å¡Ã‚ ¤250) million were considered as cost of constricting new stadium distributed equally, 2008 and 2009; the increase in capital expenditure was taken as it is forecasted in the case. Since the construction will take two years, the cash in as revenue will start by (2010)  [14]   The DCF result was not satisfactory, NPV is negative (-60.2)  [15]  . My recommendation to Mr. Daniel is not to go with this option based on the given cost of construction, how ever he can think of other solutions to increase the capacity of the stadium at lower cost and I can suggest one of two options The first one is do some expansion to the current stadium if possible to increase the capacity to almost 60,000 fans and definitely this could be at lower cost, The other suggestion is to go in partner ship with one of the small size clubs as to share the cost and benefit from the revenue. Part 3: Do the club has to acquire new striker at the acquiring cost of à ¢Ã¢â‚¬Å¡Ã‚ ¤20 million and salary of 2.6 million in the first year to reach à ¢Ã¢â‚¬Å¡Ã‚ ¤6.13 million in ten years or not? And what will be the impact of the new striker on Tottenham revenue and net income?. It goes without saying that answering these questions will depend on the financial analysis of the cash inflow as revenue versus cash outflow as cost. DCF To go with such Analysis I also took major assumptions in addition to what already mentioned in the case, the assumptions are: To consider only the Incremental revenue generated from Broadcast and others.  [16]   The new striker will enhance the team rank and then earned a greater share of league television broadcast revenue. The each moves up in the standings worth an estimated à ¢Ã¢â‚¬Å¡Ã‚ ¤670,000  [17]  . So The club will move one rank up during 2008 season and another move every three seasons due to the strong completions Based on the above data and assumptions, the result of the DCF was not encouraging and the NPV negative (-23.5) therefore the club should not sign with the new striker at these conditions and instead I have the following suggestions: Knowing the importance of acquiring professional strikers Tottenham should negotiate better deal with the formal club of the striker and the striker him self. They can spend some of that money in developing their current strikers and enhancing their performance. An aggressive incentive scheme based on profit sharing could be established to motivate the existing team to enhance their Avg. Net Goals which is currently (-1.9)  [18]  . Because Investment tie up cash, their value is based on the amount of future cash flows that will accrue to investors  [19]  

Inner Happiness in Hemingways The Old Man and the Sea Essay

Inner Happiness in Hemingway's The Old Man and the Sea  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚        Ã‚  Ã‚  Ã‚   Hemingway's view of human nature was that happiness was rare and was found within a man and not in his outside circumstances or surroundings.   Hemingway illustrates this in three ways.   First, he portrays the human nature of Santiago, the main character, as being one of humility and compassion, full of strength and pride.   He is shown not as a gleefully happy man, but one who meets life with a serene, quiet resilience.   Second, Santiago's fellow villagers are shown as shallow and materialistic, with a narrow view of life compared to his.   Their focus on appearances is in sharp contrast to Santiago's focus on intrinsic values.   Third, it will be shown that his rare brand of happiness comes from within.    Poignant circumstances surrounded the composition of this novel, which bring out many of the above points. It is widely recognized that Hemingway was possessed of a turbulent personality and suffered from emotional depression.   This was despite the fact that he enjoyed much critical acclaim.   The Old Man and the Sea was written after a ten-year hiatus of public and critical approval. This period saw much of his work receive negative criticism in literary and journalistic circles.   This affected Hemingway adversely and very deeply (Carey 9).   Therefore, Hemingway's personal battle with seeming failure in his life's work and society's attendant criticism parallel Santiago's stoic resolve in the face of his neighbors' disdain.   The author's struggles symbolically match those of Santiago and set the stage for the writing of this novel.    The acclaim generated by this book was due largely to the author's   " complex knotting of spiritual and phys... ... Gardiner, Patrick. Schopenhauer. Middlesex, England: Penguin , 1963.   Hemingway, Ernest. The Old Man and the Sea. New York: Simon and Schuster, 1995. Hutchins, Robert Maynard, ed. Great Books of the Western World. 54 vols. Chicago: Encyclopaedia Britannica, 1952. Vol. 1.   Plato. The Dialogues of Plato. Trans. Benjamin Jowett. Great Books of the Western World. 54 vols. Chicago:Encyclopaedia Britannica 1952. Vol. 7. Schopenhauer, Arthur. Counsels and Maxims. Trans. T. Bailey Saunders. Amherst, New York:Prometheus Books, 1995.     - - -.   On the Basis of Morality. Trans. E.F.J. Payne. Indianapolis: Bobbs-Merrill.   1965.     - - -. The Wisdom of Life. Trans. T. Bailey Saunders. Amherst, New York: Prometheus Books, 1995.   Waggonner, Eric. "Inside the Current: A Taoist Reading of The Old Man and the Sea" Hemingway Review Spring 1998.     

I Have a Dream Essay

Martin Luther King Jr. was born in Atlanta, Georgia on January 15th 1929. He was a pastor, activist and the prominent leader in the African American civil rights movement and is often presented as a heroic leader in the history of modern American liberalism. He is most famous for his speech called â€Å"I have a dream†. It is about not being segregated or discriminated against and to have equal rights between white and black people. It is now recognized as one of the greatest speeches in history. Martin Luther King used a number of rhetorical devices in his speech. The main rhetorical device used throughout the speech is repetition and parallelism. In each paragraph he repeats different sentences to emphasize what he is saying. He repeats phrases such as ‘one hundred years later’, ‘we can never be satisfied’, ‘I have a dream’ and ‘now is the time’ to make the listener remember the parts he wants to emphasize. It is effective because the people are anticipating it so then they can join in. Also later on in life people will look back at the speeches and remember it for certain phrases because of the repetition. Martin Luther King also uses inclusive pronouns in his speech, for example we, our and addressing the audience as brothers and sisters. ‘The sons of former slaves and the sons of former slave owners will be able to sit down together at the table of brotherhood.† He makes the audience feel as though it is there duty as well to overcome the discrimination and try and make all the southern states of America united and equal. He also makes the audience feel like it is their dream too and not just his. Martin Luther used different parts of the English language to enhance the meaning of his speech and bring out the details. The different rhetorical devices, allusions to historic documents, and metaphors seemed to have brought about the emotions that King was trying to arouse in his listeners. This helped him influence his listeners towards wanting equality for all and changing what was happening in the present so they didn’t repeat things in the past.

A Study on Spanish Conquistadors - 944 Words

Spanish Conquistadors Spanish conquistadors and by extension the Spanish Crown transformed indigenous peoples in Mesoamerican and the Andes into Spanish subjects as understood by the sixteenth century this work in writing will support this idea with evidence located in the literature. Introduction Williamson writes that more than 2 decades after Columbus first crossed the Atlantic that there was not much of consequence discovered by the Spaniards except that of Hispaniola and Cuba. However, in 1513 Williamson reports, an expedition under Pedrarias Davila set out from Spin with royal permission to conquer the isthmian region of Central America. (Williamson, 2009, p.16) When he arrived, it is reported that he came across another Spaniard by the name of Vasco Nunez de Balboa, who was leader to a group that survived a mission to Tierra Firme that was aborted in 1509. This group had already created the settlement of Darien in the region described as inhospitable. (Williamson, 2009, p.17) It is reported by Williamson that there were others from Spain in Latin America hoping to conquer areas. It is reported that Cortes founded Veracruz known as The City of the True Cross on Good Friday, April 1519. Montezumas guards had observed Cortes and had sent gifts along with advise for him to turn back but Cortes had no intentions of doing so and so Cortes advanced on toward the seat of Aztec power†¦ (Williamson, 2009, p.17) Williamson write that Cortes had other missions toShow MoreRelatedThe Mexica Empire against Hernan Cortes Essay1578 Words   |  7 Pagesthe Spanish. As a response, those in power at Tenochtitlà ¡n sent forces to Cempoala to â€Å"punish the defiance but the Spanish with newly acquired allies defeated the advancing army† (Castillo). It was here at Cempoala that the Spanish would meet the Tlaxcalans for the very first time, prompting a standoff between the two. 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In an era where personal accounts of the historical occurrences are almost nonexistent, Bernal Diaz’s The True History of the Conquest of New Spain provides virtually the only window into this periodRead MorePost Colonialism Latin America.1426 Words   |  6 Pagesplace between the Spanish conquering of the Aztec and Mayan had a long term effect not just on the people its self but in form on new generations being doctorate in the way they conduct themselves through religion, education, and cultural heritage. Pos t colonialism had happen all over the world. It happens in many countries but the location that I choose was Latin America the Aztecs and the Mayans and how the Spanish conquistadors went to conquer new territory. The conquistadors went to steal everythingRead MoreLiberation Theology And The Cultural Destruction Of Third World Countries927 Words   |  4 Pagesliberation theology, the church would have never seen a need for change and reformation. 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Despite Columbus’ lack of Spanish descent, the Spanish monarchy aided his travels

The Rationality of Probabilities for Actions in Decision...

The Rationality of Probabilities for Actions in Decision Theory ABSTRACT: Spohns decision model, an advancement of Fishburns theory, is valuable for making explicit the principle used also by other thinkers that any adequate quantitative decision model must not explicitly or implicitly contain any subjective probabilities for acts. This principle is not used in the decision theories of Jeffrey or of Luce and Krantz. According to Spohn, this principle is important because it has effects on the term of action, on Newcombs problem, and on the theory of causality and the freedom of the will. On the one hand, I will argue against Spohn with Jeffrey that the principle has to be given up. On the other, I will try to argue against†¦show more content†¦In 1969 Robert Nozick introduced Newcombs problem to the philosophic community as a conflict between the principle of expected utility maximization and the principle of dominance. Nozicks introduction led to a Newcombmania (Levi 1982), because philosophers have decisively different opinions about t he correct solution to this problem. The Newcombmania showed itself in the development of causal and evidential decision theories and other proposals. Because the evidential theories (for example Jeffrey 1965, 1983) do not use the principle, they cannot give a solution to Newcombs problem in case you accept the principle. The causal theories which use subjunctive conditionals (for example Lewis 1981) are problematical, because they still have to provide a logic of subjunctive conditionals, a probability theory for subjunctive conditionals and a corresponding decision theory. Because Skyrms (1980) causal theory and Kyburgs (1980) proposal of epistemic vs. stochastic independence also dont use the principle, only Spohns solution (1978) to Newcombs problem is left. 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In other words, no player in the game would execute a different action as long as every other playerRead MoreTheory Of Games And Economic Behaviour968 Words   |  4 PagesAlthough rationality provides the foundation for behavioural decision theory, current findings suggest that heuristics and biases have a significant impact on individual decision making. Rationality can only go so far in explaining individual decision making. A large part of early research into decision theory was based on the economic or normative approach, which tries to predict the actions of a so called ‘rational decision maker’. Although Bernoulli (1738) was the first to introduce the conceptRead MoreWhy Are People Concerned With Danger?1300 Words   |  6 PagesTwo possible conditions that lead people to embrace such a state of mind are proletariat oppression and rationality. Workers, oppressed by a capitalist system that uses their labor for hardly anything in return, revolt to overturn or reform that system and achieve more power for themselves as a class. In terms of rationality, people decide to join in a rebellion if there is a high probability of success and the possible gains outweigh the possible costs of punishment. Victim of class dominationRead MoreEquilibrium Is Virtually Useless : An Argument Between The Conceptuality And The Practicality Of Nash Equilibrium1342 Words   |  6 Pagesinto what economics is about, which is the study of social and human interaction and rational decision making quantitatively. Nash equilibrium can act as a tool to provide an insight into such interaction. In the first part of this essay, I am going to evaluate why the statement ‘economics without the concept of Nash equilibrium is conceptually flawed’ is true, by looking into the importance of rationality in economics and the mechanism of the Nash equilibrium. 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A clear definition as well as the recognition of core elements surrounding the decision making process is required to reach a suitable decision. These approaches purpose to be achieved clear concerns before a final decision-making. This paper will outline prospect theory and discuss the differences between prospect theory and expected utility theory. Following will be, as explanation of the biases and heuristicsRead MoreRationality Is A Common Good2044 Words   |  9 PagesRationality is present all days in your life, and you don’t realize it. When you wake up and choose what are you going to wear, what you are going to have for breakfast or at what time you have to go out to work, you are using rationality. We choose depending on how coherent is our choice. â€Å"Rationalism in philosophy consists of arriving at substantive conclusions without appealing to any data†, stated Ken Binmore. 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