Philippines and International Trade Essay Example for Free

Philippines and International Trade Essay What is International trade? International trade is defined as trade between two or more partners from different countries in the exchange of goods and services. In order to understand International trade, we need to first know and understand what trade is, which is the buying and selling of products between different countries. International Trade simply globalization the world and enable countries to obtain products and services from other countries effortlessly and expediently. International trade has been in existence throughout history and has an economic impact on the articipating countries. Trade in most countries has a share of the Gross Domestic Product (GDP) and helps to boost the countrys overall economy on a yearly basis. International Trade for the Philippines is available only to chosen business and companies and is declining, because we import more goods than we export, which affects our countrys economy. Economic development in Philippine economy has been because of high government spending. A hard working service sector and large allowance from millions of Filipinos working abroad played an important role in Philippine economic development. Since the former president Macapagal-Arroyo came into power in 2001 there has been an economic growth of 5%. Still, the Philippines need a further increase in growth rate in order to sustain economic growth. More economic development is required to lessen poverty in the country and address imbalances in distribution of income. It also stresses on high population growth. This paper discusses the uncertain economic status of the Philippines, in terms of its stand in the world market, and its relationship with other countries. The need for new investors and lessen unemployment will be the point of discussion.

The Critics View of Edna Pontellier’s Suicide in The Awakening Essay

The Critics View of Edna's Suicide in The Awakening  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚   There are many ways of looking at Edna's Suicide in The Awakening, and each offers a different perspective. It is not necessary for the reader to like the ending of the novel, but the reader should come to understand it in relation to the story it ends. The fact that readers do not like the ending, that they struggle to make sense of it, is reflected in the body of criticism on the novel: almost all scholars attempt to explain the suicide. Some of the explanations make more sense than others. By reading them the reader will come to a fuller understanding of the end of the novel (and in the process the entire novel) and hopefully make the ending less disappointing.    Joseph Urgo reads the novel in terms of Edna learning to narrate her own story. He maintains that by the end of the novel she has discovered that her story is "unacceptable in her culture" (23) and in order to get along in that culture she must be silent. Edna rejects this muting of her voice and would, Urgo maintains, rather "extinguish her life than edit her tale" (23). To save herself from an ending others would write or an ending that would compromise what she has fought to obtain, she has to write her own end and remove herself from the tale. As she swims out, the voices of her children come to pull at her like little "antagonists," and there are others on shore who would also hold her down: Robert, Adele, Arobin, and Leonce. Edna finds a way to elude them all, and narrates in her suicide the conclusion to her tale. In this type of reading, her suicide can be understood in terms of societal pressure. What is the result of silencing a person's voice? Urgo maintains, on a symbolic level... ...g Sea': Freedom and Drowning in Eliot, Chopin, and Drabble." Tulsa Studies in Women's Literature 12 (1993): 315-32. Malzahn, Manfred. "The Strange Demise of Edna Pontellier." Southern Literary Journal 23.2 (1992): 31-39. Roscher, Marina L. "The suicide of Edna Pontellier: An Ambiguous Ending?" Southern Studies 23 (1984): 289-98. Showalter, Elaine. Sister's Choice: Tradition and Change in American Women's Writing. Oxford: Claredon Press, 1991. Skaggs, Peggy. "Three Tragic Figures in Kate Chopin's The Awakening." Louisiana Studies: An Interdisciplinary Journal of the South 4 (1974): 345-64. Spangler, George M. "Kate Chopin's The Awakening: A Partial Dissent." Novel: A Forum on Fiction 3 (1970): 249-55. Urgo, Joseph R. "A Prologue to Rebellion: The Awakening and the Habit of Self-expression." The Southern Literary Journal 20.1 (1987): 22-32.

Impact of Facebook Essay

The purpose of this paper is to introduce, discuss, and analyze the topic of social networking. Specifically it will discuss the impact of the social networking site Facebook on today’s society. Facebook has become a phenomenon for the social networking set, and what makes that so amazing is that Facebook did not even exist until 2004. Three college students created it to allow other students to network and meet each other, and it has caught on with young people around the globe. What impact does Facebook have on today’s technologically advanced society? It allows people who probably never would have met each other in person to communicate, it creates new relationships and friendships, and it places distance between people who could communicate in person but instead choose to communicate online, instead. It is just another element of society that is interested in sharing information with the intimacy of a close, personal relationship. see more:social network and our young generation Facebook is nothing more than a medium for communication, and yet, it is so much more than that. At a glance, a user can learn everything from what gender a Facebook member is, to what religion they believe in, what school they attend, and their likes and dislikes, all with the click of a mouse. One writer notes how popular the site has become in a short time. She writes, â€Å"When Facebook launched in February 2004, American college students seized the opportunity to have a new social medium† (Lingg, 2008). Today, millions of new visitors join the site every year, and people find relatives, old friends, new friends, and much more as they surf the entries of neighbors, acquaintances, and classmates. While many believe Facebook is a new, trendy idea, it is actually based on a Victorian university tradition, the â€Å"Freshman Facebook,† that introduced the incoming class to students through their photographs. A researcher notes, â€Å"Like its relative the yearbook, th e Facebook is a photographic document created by a community for the purpose of visually defining community life† (Miller, 2007). Many colleges and universities still utilize the Facebook, and the web site’s creators based their name and idea on that old college tradition, they just updated it for a younger, hipper, techie audience. However, compared to other social networking sites, like My Space, Facebook is far less chaotic, busy, and difficult to understand. The pages are neat, easy to navigate, and offer the information in an uncluttered, neat site that is pleasant to look at. Facebook’s effect on today’s society is not difficult to distinguish. Of  course, Facebook’s success has spawned numerous other sites geared to specific age groups and demographics. Another writer notes, â€Å"There are social networking sites for musicians, for mountain climbers, and for particular political persuasions. And with each site, a new community emerges that presumably satisfies the community needs that the members of such a site are looking for† (Fabian, 2008). Facebook has changed the way people communicate, connect with each other, and meet, and all of that is done virtually now, instead of in person. Users can share photos, buy and sell items, and spend hours online communicating with friends and acquaintances. It has changed the way people connect and communicate, but its affect on society goes far deeper than that, and it says something about our virtual society. Experts estimate that many people now spend at least 50 percent of their waking time online (Fabian, 2008). For many, a large part of this time is spent in social networking sites like Facebook. People give up huge parts of their privacy when they post their feelings, interests, and ideas online, and society seems to be becoming much more open to this lack of privacy, in fact, the users of Facebook seem to relish it, adding very personal items to their profiles that anyone who becomes their friend can view. This seems to say that our society is much more open now, and much more open to posting intimate information online, but it also is rather anonymous in a way, because users never see, meet, or touch the person they communicate with, and so, even though they know intimate details, they do not really know the person at all. Writer Fabian continues, â€Å"Facebook and My Space are virtual experiences. People are free to be someone they aren’t. Peer review doesn’t exist. You don’t literally touch anyone–not even by a smile, to say nothing of a handshake. No one is accountable to anyone else. And so forth† (Fabian, 2008). Thus, Facebook is kind of a â€Å"fantasy land† where people can make up anything they want to command attention, they can live an alternative life if they choose, and no one is the wiser. The fact that people accept these profiles at face value, and choose people as friends based on these profiles says a lot about our society. For all our worries about information and identity theft, people are still seemingly naive when it comes to sites like Facebook, where they post intimate details with no thoughts to the consequences. Facebook opens up other questions about today’s society, too. These young people who spend so much time online  networking are not networking in person. Will they develop the social and interpers onal skills necessary to compete in their chosen careers when they spend so much time alone, networking? Do they understand the realities of everyday life, and how the â€Å"real† world works, so they can function and be a part of it? Many experts believe not so much. Another writer states, â€Å"And yet, as a generation, Rose notes, many may not have much historical perspective, or understand how say, government or economic systems work (outside of those who learn details as part of a specific academic path), or get the fact that success for most people isn’t instant† (Bielski, 2007). Society is becoming increasingly fast paced, today’s young people expect everything to be delivered at the speed of the Internet, and sites like Facebook only enhance that feeling of instant gratification and success. In addition, Facebook poses another interesting aspect of today’s society – marketing. Many companies are realizing they have a captive audience on Facebook that spends a great amount of time there, and so, they market their businesses on Facebook. The Canadian Royal Bank is just one business cultivating college students on the site, so it is changing the way advertisers market their products online, and even changing the age range of ads online, as well. As more companies reach out to college students and others on social networking sites, advertising in print and television media may reduce or disappear, because advertisers want the most bang for their buck, and much of that audience is now spending increasing amounts of time online. There is also another great implication to today’s society when the membership of My Space and Facebook are compared. A Blogger discusses a white paper a friend of his has written regarding how social status is quite segmented between the two sites. He writes, â€Å"Which posits that well-to-do, stable American teens with ‘good prospects’ end up on Facebook, while poor, queer, marginal and non-white teens end up on My Space (even in the military, grunts are on My Space and officers are on Facebook)† (Doctorow, 2009). The implications for this separation in today’s society is staggering. In a time when it seems that the anonymity of the Internet would foster more coming together and breaking down cultural barriers, it seems that is not the case and the implications for society are clear – Facebook is not fostering change and acceptance, it is still fostering class and societal barriers that keep people apart instead of bringing them together. In conclusion, Facebook on the surface is a socially acceptable networking site for college students and others to connect, share experiences, and meet old friends. It does say some disturbing things about how our society views privacy, personal information, and how our society is adjusting to the age of technology, and it brings into question what a generation of Facebookers will deal with the challenges of the real world in person, like career, family, and success. Facebook is a popular phenomenon that attracts millions of users each year, and allows people to post profiles, communicate with others, and even locate old friends. It is extremely popular with college students, but it is used my any number of people for a variety of reasons. It has some serious implications for our society. People on Facebook rarely meet or interact in person, so they do not develop good interpersonal skills. They spend so much time online, giving out extremely personal and sensitive information, they may not be aware of some of the important aspects of society, such as the government and economics that they will need to understand to become successful in their careers. We use the Internet so much now that some users may expect all of life to respond as quickly as online sites like Facebook, and they may have trouble dealing with the realities of a career that takes time to establish and gain success. In addition, Facebook and other networking sites are helping to build barriers to commonality in society, something extremely disturbing and with long-term effects.

The Story Of An Hour By Kate Chopin - 874 Words

â€Å"Story of an Hour† by Kate Chopin, exemplifies the inner conflict of many women during the late nineteenth century, living in a suppressed patriarchal society, without the freedom and individuality afforded the men of this era. The story conveyed the theme of conflict between a displayed public identity and a suppressed private identity through point of view, and symbolism, and plot development. To begin with, the point of view assisted by effectively conveying the conflict between Mrs. Mallard’s public and private identities though the use of the third person narrative. This strategy, successfully brought emphasis to conflict between how she is viewed both publicly and privately by first presentation an outside, objective perspective to describe her public persona, while switching to the first person narrative when her private image is conveyed. The first line of the story, demonstrated this strategy by describing Mrs. Mallard as a frail and weak, in need of †Å"gentle† care. This conveyed how others view her, not how she viewed herself. The outside perspective continues objectively describing Mrs. Mallard and the setting, until she is alone and her environment begins to affect her thoughts and feelings. Her private identity slowly emerges from suppression while sitting alone looking out the window. This point in the story the perspective changes from an objective outside perspective to her personal perspective, emphasizing the conflicting identities. Utilization of thirdShow MoreRelatedThe Story Of An Hour By Kate Chopin1241 Words   |  5 Pagesâ€Å"The Story of an Hour† by Kate Chopin is a wonderful short story bursting with many peculiar twists and turns. Written in 1894, the author tells a tale of a woman who learns of her husband’s death, but comes to find pleasure in it. Many of the elements Kate Chopin writes about in this story symbolize something more than just the surface meaning. Through this short story , told in less than one thousand one hundred words, Kate Chopin illustrates a deeper meaning of Mrs. Mallard’s marriage with herRead MoreThe Story Of An Hour By Kate Chopin855 Words   |  4 PagesThe Story of an Hour In the â€Å"Story of an Hour† by Kate Chopin, is about pleasure of freedom and the oppression of marriage. Just like in Kate Chopin’s story, inside most marriages, even the ones that seem to be the happiest, one can be oppressed. Even though, one might seem to be happy deep inside they miss the pleasure of freedom and living life to the fullest. Just like, in this story Mrs. Mallard feels trapped and when she hears about her husband’s death she first feels distraught, but ultimatelyRead MoreThe Story Of An Hour By Kate Chopin1457 Words   |  6 PagesEmotions and Death Everyone who reads a story will interpret things slightly different than the person who reads it before or after him or her. This idea plays out with most every story, book, song, and movie. These interpretations create conflict and allow people to discuss different ideas and opinions. Without this conflict of thought there is no one devoting time to debate the true meaning of a text. Kate Chopin’s â€Å"The Story of an Hour† tells about a woman who is informed of her husbands deathRead MoreThe Story Of An Hour By Kate Chopin987 Words   |  4 PagesIn Kate Chopin’s short story, â€Å"The Story of an Hour† reader’s see a potentially long story put into a few pages filled with rising action, climax and even death. In the beginning of the story, character Louise Mallard, who has a heart condition, is told of the death of her husband by her sister and one of her husband’s friends. Afterwards Mrs. Mallard is filled with emptiness and then joy of freedom. This joy of freedom is actually what consequently leads to her death in the end when she discoversRead MoreThe Story Of An Hour By Kate Chopin1061 Words   |  5 PagesThroughout the short story, â€Å"The Story of an Hour†, readers are introduced to characters whose lives change drastically in the course of this writing. Through Kate Chopin’s story we can identify many different themes and examples of symbolism in her writing. Chopin’s choice of themes in this writing are no surprise due to the time frame of which this story was written. Chopin often wrote stories with of women’s rights, and is noted as one of America’s first open feminists. As this story of an ill, helplessRead MoreThe Story Of An Hour By Kate Chopin972 Words   |  4 Pagesâ€Å"The Story of an Hour† by Kate Chopin expresses Ms. Mallard’s feelings towards her husband’s death in an appalling train accident. Due to her bad heart, her sister Josep hine had to be the bearer of bad news and approach his death gently to her. According to the quote, â€Å" But now there was a dull stare in her eyes, whose gaze was fixed away off yonder on one of those patches of blue sky. It was not a glance of reflection, but rather indicated a suspension of intelligent thought†, it lets us know thatRead MoreThe Story Of An Hour By Kate Chopin998 Words   |  4 Pagesâ€Å"The story of an hour† by Kate Chopin was a story that was ironical yet profoundly deep. As a student I have been asked to read â€Å"a story of an hour† many times, and every time I’m surprised by how I enjoy it. People can read thousands of stories in their life times and only a handful will every stand out to them, stories that can draw out an emotion or spark a thought are the ones that will standout more. For me and â€Å"a story of an hour† the thought of freedom is what draws me the most as a teenageRead MoreThe Story Of An Hour By Kat e Chopin1542 Words   |  7 PagesIn the short story, â€Å"Story of an Hour†, Kate Chopin writes about a woman with heart trouble, Mrs. Mallard, who, in finding out about the death of her husband, Mr. Mallard, experiences some initial feelings of sadness which quickly transition into the exhilarating discovery of the idea of a newfound freedom lying in front of her. When it is later revealed that her husband is not actually dead, she realizes she will not get to taste that freedom. The devastation kills her. What Mrs. Mallard goes throughRead MoreThe Story of an Hour by Kate Chopin596 Words   |  2 PagesIn â€Å"The Story of an Hour,† Kate Chopin focuses on the idea of freedom throughout the story. Mrs. Mallard is a lonely wife who suffers from heart trouble. She is told by her sister Josephine and her husband’s friend Richards that her husband has passed away in a train accident. She locks herself in a room expecting to be devastated, but instead feels freedom. Later, she exits her room and her husband walks through the door, causing her to die of a heart attack. Chopin uses this story to demonstrateRead MoreThe Story Of An Hour By Kate Chopin886 Words   |  4 Pages In Kate Chopin â€Å"The Story of an Hour†, the reader is presented with the theme of prohibited independence. In Kate Chopin â€Å"The Storm†, the scenery in this story builds the perfect atmosphere for an adulterous affair. The importance of these stories is to understand the era they occurred. Kate Chopin wrote stories with exceptional openness about sexual desires. In â€Å"The Storm†, a short story written by Kate Chopin in a time when women were expected to act a certain way and sexual cravings was considered

A Critical Note on New Historicism Essay - 2751 Words

Introduction: The records of literary criticism and theory are almost as old as literature itself. As known, literary criticism is a sort of mental exercise of evaluating, classifying, analyzing, interpreting, judging, and valuing the literary art. This indicates that criticism also includes creative skill to comprehend the literary artist’s work first, and then put forward one’s valid view. In this sense, it is really ‘meta-literature’. The world’s successful critics and theorists are only the renowned literary figures. As Ben Jonson says that â€Å" To judge of poet is only the faculty of poets†. This means that only a writer can understand the mysteries and mental regions of his/her fellow writers and can respond them aptly and effectively.†¦show more content†¦Horace, Quintillian and Longinus are the authentic and penetrating critics of this period. Horace’s Ars Poetica and Longinus’s On Sublime like Aristotleâ€℠¢s Poetics have proved as torch bearers, and their merits and utility have been acknowledged by all the major literary figures. Renaissance Criticism: With the advent of Renaissance, the critical curiosity accelerates and the enquiry of the antique Greek and Roman founders of creative and critical business also enlarge the horizons of learning. The term Renaissance is described as the birth of the modern world out of the ashes of the Dark Ages; as the discovery of the world and the discovery of man; and the era of the emergence of untrammeled individualism in life, thought, religion and art. In Renaissance England, critical thought evolves swiftly through four successive stages. The preliminary phase is the critique of style and language of classical rhetoricians; the second is the effort to introduce the ancient practitioners’ meters in the English poetry; the third step is an attempt to defend the imaginative literature in the face of moralist puritans; and in the final stage, the critics try to expound their own rules and norms. Among these critics, the prominent ones are Sir Philip Sidney whose Apo logy for Poetry is indispensable in the history of criticism. Ben Jonson is anotherShow MoreRelatedHamlet and New Historicism795 Words   |  4 PagesNew Historicism is a modern literary theory that focuses on how events, culture, and places within a society influence a written work. New Historicists analyze allusions to characteristics of the time period in which the work was written. By definition, new historicism seeks to discover the significance in a text by taking into account the work within the construction of the established ideas and assumptions of its historical era. Literary texts are entrenched with historical context and the authorRead More Morgan, Morgan by Janette Turner Hospital1657 Words   |  7 PagesMorgan† by Janette Turner Hospital in a poststructuralist way using both New Historicism and Deconstruction. First, we will explore the tenants of New Historicism and apply it to the story, and then we will explore the tenants of Deconstruction and apply it to the story. The ideals of New Historicism were first outlined by Michel Foucault and later developed by Stephen Greenblatt. Foucault did not develop New Historicism; however, his philosophy and ideas formed the basis of the practice. As WarrenRead MoreLiterary Criticisms of Shakespeare’s Hamlet Essay1234 Words   |  5 Pages This essay will discuss several literary criticisms of Shakespeare’s Hamlet. After skimming through several articles, I ended up with four peer-reviewed journal articles, each a different critical perspectives of the play: feminist, psychoanalytical/freudian, moral, and new historicism. My previous studies of Hamlet, as well as my rereading of the play this semester, has collectively given me a general knowledge of the text. My familiarity of the play made it easier for me to decipherRead MoreLiterary Criticism Of William Shakespeare s The Merchant Of Venice 850 Words   |  4 Pages Biographical criticism New critics warns that the writer’s intent and the readers present mindsets doesn’t affect the meaning of the play, as it offers an experience like no other because it doesn’t offer a mimic of real life situation (Janik 165). By disallowing external influences, text must analyze all other disciplines associated with the play in question. Some have also criticized Shakespeare as being a master of only one single genre of drama as in relation to other plays. Feminist criticismRead MoreObanua Ogugua Critical Analysis1850 Words   |  8 Pagesauthor has managed to kill two birds with one stone. Moving on, having established the foregoing, strife becomes the chemical reaction when the two wives of two sensibilities are put together under one roof. Another interesting thing to note and which validates the new wife’s, Ogugua’s, modern status and mindset are her set of twin girls which she had for another man but whom Obanua accepts as his own; a terrible mistake, surely. These twin girls are actually mulatto, for Ogugua had borne the girlsRead More Feminine Representation in Shakespeares Hamlet Essay2628 Words   |  11 PagesFeminine Representation in Shakespeares Hamlet      Ã‚  Ã‚  Ã‚   Abstract: This essay employs Feminist Criticism, New Historicism, and Marxist Criticism, to analyze the portrayal of Queen Gertrude and Ophelia.    Because Shakespeares Hamlet centers on the internal struggle of the Prince of Denmark, the reader focuses primarily on his words and actions.   An often overlooked or under appreciated aspect of the play is the portrayal of the female characters, particularly Queen Gertrude and OpheliaRead MoreSeminar: Literary Theory Applied to H.P. Lovecraft-Notably â€Å"the Beast in the Cave†6821 Words   |  28 Pagescentury.† In the following paper, I will explore his earliest work, â€Å"The Beast in the Cave,† a story written when he was around fifteen years old. I will explore its meanings and context through the lenses of reader response, deconstructionism, new historicism, and psychoanalytic analysis. Through these lenses of literary theory I hope to derive further meaning and understanding of this favored story as well as dismiss some criticism that has been leveled against H.P. Lovecraft. Each theoretical viewRead MoreContemporary Art And Artistic Practices146 5 Words   |  6 Pagescritics who focus their attention on the aspect of social usefulness of the art practices, characterized by an increase of art projects that emphasize participation, dialogue and community engagement to activate the public sphere attempting to offer new social models to live together; appear like a leitmotif along the theory and history of art of the 20th century. One of the focal points in the development of artistic practices during the 20th century has been directly related to the idea of autonomyRead MoreThe Queer Reading Of Nick Gatsby1537 Words   |  7 PagesAs insane as this sounds, I ve done the research. It s plausible. The idea isn t original; it was first proposed by Carlyle Thompson, a professor of African American and American literature at Medgar Evers College of the City University of New York. There s actually quite a bit of evidence to support it, just as there is to support the queer reading of Nick. Gatsby is described by Nick, his tanned skin and short hair look as though it were trimmed every day (Fitzgerald 50). The short hairRead MoreThe Importance Of The Discipline Of History1842 Words   |  8 Pagesmethodology for a historical understanding of the world, through his conceptualisation of combining contemporary sources and the critical analysis and comparison of these sources, along with the need for objectivity, not only changed the academic discipline of History but also shows why Leopold von Ranke is regarded as one of the greatest historians. Historiography is by no means a new development in the study of history. The various ages throughout history, and the historians who wrote about these ages

Romanesque And Gothic Design Of Stained Glass - 1487 Words

There are few things as beautiful and striking at looking up at a stained glass window with the sun light shining through and illuminating the vibrant and jewel tone colors of the individual pieces of glass that make up the window. During the 12th and 13th centuries, there was an explosion in the number of stained glass windows created for churches through out Europe and Britain. Of both Romanesque and Gothic design, the proliferation of stained glass was a result of a variety of causes. The evolution of of the technical techniques needed to create stained glass windows, architectural advancements and religious needs and desires all contributed to the growth of stained glass during the 1100s and 1200s. Stained glass is glass that is colored or stained by metallic oxides or glass that have been painted on and then fused in a kiln. To produce a stained glass window, the artisan would first draw a life sized sketch or cartoon of the window. The glass itself was made by combining sand an d potash at temperatures around 3000 degrees. While the glass was still molten, it was colored by adding small amounts of metallic oxide powders. Copper oxides produced green or blue-green shades, cobalt would create a deep, rich blue and gold was used to produce a red-wine or violet colored glass. The colored molten glass would then be blown and flattened into sheets. After the glass had cooled, the artisan would place the pieces on the cartoon of the window and crack the glass into roughlyShow MoreRelatedThe Stained Glass And Verticality Of Gothic Churches1346 Words   |  6 Pagesas destruction by many, but it helped to produce growth in Gothic architecture. Many of Christianity’s beliefs are reflected in different aspects of art. The stained glass and verticality of Gothic churches is a key change from Romanesque style churches. The Gothic church found creative ways to illustrate images of important events in history through tapestry. Even the general shape and desig n of the Romanesque churches versus Gothic churches show Christians values. The sculptures outside ofRead MoreSaint Brigid s Centre For The Arts1657 Words   |  7 Pagesvault in the 1st century BC. Romanesque architecture has characteristically elements: Semi-circular arch, Barrel vaulting of the nave, thick buttress walls and Gothic architecture has three elements which came together in Gothic period: Pointed arch, Ribbed vault and Flying buttress. Among Architecture terms, a vault is an arch- shaped structure used to provide an enclosed space with a ceiling or roof of a building and is a unique element to analyze which architectural design was in history. There areRead MoreEssay about The Medieval Synthesis in the Arts 1023 Words   |  5 Pages(1000-1300) thirteen century Gothic Church. The Chartres Cathedral Church is one of the most important in France. After a fire in 1134 destroy the town of Chartres the west front of the cathedral. The rebuilding of the west facade between 1145-50. It was once known as Notre Dame de Chartres but today is known as Chartres Cathedral. This church has the essential parts of a Christian basilica. The cathedral is locates in the town of Chartres, Northwester France. It is one of three Gothic French architectureRead MoreAnalysis of the Romansque Style of Architecture1451 Words   |  6 PagesEconomics 7. Design Philosophy 8. Available construction materials, methods and technologies 9. Building typology 10. Movement Characteristics 11. Conclusion 12. References â€Æ' Architecture affirms the wealth and culture of a society. The Romanesque style is a little like Roman architecture. Gothic architecture structures were beautifully made and offered the light of the new world to be shared. Both styles can be regarded as revolutions in building styles. By comparing the Romanesque and Gothic ArchitecturalRead MoreRomanesque Cathedral And Gothic Cathedrals1257 Words   |  6 PagesWe’re looking at the difference between Romanesque cathedrals and Gothic cathedrals. I know you all are so excited to learn what a flying buttress is because I know I was. Spoiler alert, it is nothing like what it sounds like. It’s much more cool and innovative, which is what these two periods were all about. Taking knowledge from the past and improving it. After Charlemagne’s death in 814, a terrible and dark period of cultural decline and terror ensued. It took a long time for the terror to endRead MoreGothic Sculpture And Gothic Art1352 Words   |  6 PagesThe Gothic Sculpture had not been only a design of art but an exceptionally influential period formulated with its own intricate history. The word is utilized to spell it out buildings and items whose varieties are based after a variety of characteristics from the 12th to the end of the 15th century. Gothic style was a development of the Romanesque yet it was Renaissance humanists who first used it as a disparaging term to spell it out what they noticed as the barbaric structures. With Gothic sculptureRead More Gothic Arches Versus Romanesque Arches1185 Words   |  5 PagesThesis, Argument Outline, and Evidence In the late 12th century the Romanesque period of style morphed into the Gothic period of style. The Romanesque period was characterized by the following: thick walls, barrel/round arches, supporting groin vaults, and thick buttresses (Calkins 1998, 110). The Gothic period was characterized by the following: thin walls, pointed arches, stained glass, and flying buttresses (Icher 1998, 20-30). During the early medieval years, the use of thick walls in buildingRead MoreThe Cathedral Of Saint Etienne1275 Words   |  6 Pages According to Kloss (2005) the Romanesque style has been documented throughout Europe from the mid-eleventh century until the late twelfth century. Although the term Romanesque began with architectural innovations, it also refers to the same period encompassing sculpture, painting and other arts. As discussed by Kloss (2005) one of the earliest Romanesque churches, the Abbey of Saint-Etienne (begun1067) dedicated to Saint Stephen in Normandy, France was built by William the Conqueror. This isRead MoreGothic Cathedrals, Compare and Contrast Two846 Words   |  4 PagesGothic Cathedrals The Gothic style has been the root for some of mankind’s most beautiful works of art. It was introduced by the Romanesque style of building. Romanesque style only lasted for nearly one hundred years before the Gothic style replaced it entirely. Abbot Suger was the founder of the Gothic style. One great form of Gothic architecture was the Notre Dame de Chartres cathedral that was built in France between 1145 and 1513. Another form is the Bourges cathedral, located in BourgesRead MoreArchitectural Styles Of The Ottoman Empire993 Words   |  4 Pagesempires, namely the Byzantine, Iranian, and Islamic architectural styles. As a result, the Ottoman empire’s architectural style has resemblances with the Romanesque architecture, which is a blend of the ancient Roman and Byzantine architectures. And it also has similarities with the Gothic architecture which was heavily influenced by the Romanesque architecture and subsequently by the Renaissance architecture. However, a ll three of these architectural styles also have their differences due to individual

Merger Theory

Questions: A.Discuss the Synergies / lack of Synergies arising from the Merger. For data before the Merger, use data from 2010 to 2013. To evaluate the effects of the Merger, use data for 2014 and 2015. B.Test if the Merger Theory [PV (Acquirer) + PV (Target) PV (Combined Firm)] is supported by this Merger. Use the data periods specified in part a. Note: PV (Firm) refers to Market Capitalization. C.Evaluate the failure of the Merger from the perspective of Coopers and Lybrand. Answers: Overview: A.In this competitive era, the companies have been striving hard to remain competitive with their competitors. This is done with the objective of maximizing the value of share and maximizing the value of the organization as well. In respect to the smartphone companies, Google is the largest supplier of the operating system. On the other hand, apple is a standalone company and the smartphones and the operating system are produced by them only. Due to the expansion of the global market in the smartphones, it was realized by Microsoft that it would lose in the figure. In regard to this, a new strategy was initiated by the company to break into the market. The merging together with the products of Nokia on the phone assets was announced by the company on 3rd September, 2013. The merging was done with an amount of US $ 7.9 billion. A synergy is created as a result of merging of the companies which signifies that the resources of both the companies are combined for the development of the new product and the enhancement of the existing product. The entity is able to gain market power due to merging and it also leads to the diversification of risk and quick entrance into the new industry. It also leads to the high price earnings ratio, internationalization of transactions and economies of scale (Marie 2013). Synergy in more than one organizations: When the two businesses or individual come together then it leads to the creation of value which exceeds the vale when the entity works or function independently. This is nothing but synergy. It can also be said that the value of the product produced after merger is more than the value of the product which was produced independently. The merger of Nokia and Microsoft leads to the creation of the synergy and the synergy was in the form of the vertical production which would limit the cost of production and economies of scale which would save millions dollars and also leads to the diversification of investment (Honghua and Juan 2014). Economies of scale: Economies of scale is the first synergy of merging. It was mentioned by the Microsoft that synergy would let them save costs of US $ 600 million. The fixed cost is spread over the large volume of output as per the economies of scale theory. This means that selling the products to the consumers relies on the large volume of output. Before the merger, the Nokia was selling the smartphones at US $ 10 per unit as compared to the selling price of Microsoft which stood at US $ 40 per unit. The cost savings are foreseen by Microsoft due to the adoption of this strategy. Economies of vertical integration: Economies of vertical integration is the second synergy. The organization which is acquiring is able to control the raw material output as a result of the international transactions or the vertical integration. As mentioned by Dhar Dhar 2013, the theory coincide with the forward and backward integration. Rather than inventing the smartphones, it would be suitable for the Microsoft to merge with Nokia because development process of smartphones is a long time process and cost are also high. The Microsoft would also lose the market in terms of sales due to high costs. Nokia which produces tablets, smartphones would be merged with the Microsoft to reduce the amount of time to develop the smartphones (Westfall 2015). Merging would help the Microsoft in tremendously reducing the time taken for the research and development. Integration with Nokia help the Microsoft in directly developing their operating system and breaking the barrier of the market which they are facing. Diversification: Diversification is the third synergy and it is regarded as the dubious reason. This is so because the Microsoft is regarded as the company which is cash rich but when it comes to the stagnant company, the diversification is mainly for the purpose of diversifying their investment. For the individual stockholders, diversification is considered to be easy and cheap as compared to the stockholders. If the shares of the company drives interest of the stockholders, then he or she would purchase the shares form the stock market (Microsoft News Center 2013). The Microsoft would be overtaken by the companies such as Apple ios and Google Android and Microsoft would face tough competition from this. As a result of this, the company is looking forward to the diversification in the market of smartphones and remain competitive in relation to its rivals. Microsoft would be able to catch up with its rival if the resources between the Nokia and Microsoft are fully utilized and the strategy is properly implemented. 2012-2013 Sales revenue: The sales revenue of the Microsoft in the year 2012-2013 witnessed a steady growth rate annually but there is a yearly decline in the sales revenue of Nokia and the contribution of Nokia towards the sales revenue is reflected by the figure. Nokia has been producing the phones since 1984, which was the beginning of the era of the phones. The reason why Nokia did not make into the market of the smartphone was given by the conference paper which was conducted by the Bouwman and his team, who made the analysis that the primary reason attributable to this was that in the technological system, Nokia did not strongly position themselves (Bouwman 2014). The smart phones producing companies such as Apple and Samsung managed to introduce themselves by bringing the first smartphones to the consumers in the world due to the weak position of Nokia. This was done either by using the iOS developed by Apple or android developed by Google. Nokia was losing its market share and there was a drastic fall in its market share as it faced strong competition from these two competitors. This also resulted in the lower sales revenue. Graph 1: (Source: created by author) Aftermath of merging- After the devaluation of the asset of Nokia by the third quarter of 2015, Microsoft reported a net loss of US $ 7.5 billion. Due to the poor sales of the smartphone on top of devaluation, Microsoft intends to cut about 78000 jobs in the company. Microsoft has devaluated its assets by US $ 7.5 billion due to lack of synergy. The amount is US $ 0.4 billion less than the amount spend to buy over Nokia (Singh 2014). The poor performance of sales is the factor which is attributable to the huge loss suffered by Microsoft as it tried to compete with its rival such as Apples iOS and Googles Android. The failure of merging was mainly because of the poor performance of sales which resulted in the lack of synergy. Lack of core competencies, analysis of the industrial environment also suffered shortage and the shortage of resources were the factors responsible for the lack of synergy. Resources shortages: Tangible and intangible assets can be referred to as the resources and it could be in various terms such as equipment, human resources, and technological, reputational resources of company, financial instruments and innovation resources. Tangible assets has got it limitation but it generates income for the company and is fixed. The company is able to attain the core competencies and capabilities due to its intangible assets and it is something which is not visible. The core advantage given by the intangible assets is that the competitors would not be able to duplicate it. It is unique to the organization and the value generated by it is far more than the value generated by the tangible assets. One of the things that is vital and crucial to the capabilities and core competencies of the Microsoft is the innovation resources. This was the thing which Microsoft is lacking. With the expansion of the market on global level, the competitors enter the market seeking to gain competitive advantage. Apple and Google was well aware of the fact that in the 20th century, mobile phone is the leading vessel and in light of this fact, they collaborated with the organizations such as Samsung and Apple which produced smartphones. Microsoft was not able to compete in the smartphone market and fell behind due to the lack of innovation resources. This made the barrier to entry very difficult. Lack of industry environmental analysis: The analysis of industry environment is very fundamental as it helps in the analysis of the industry which the organization is seeking to enter into. The reason of Merging of Microsoft with Nokia was that it wanted to compete with the leading organization such as Apple and Google by breaking into the market of smartphone. The analysis of industry is done by using the Michael Porters Five forces. Since the Apple and Google are the leading developer of the softwares for the smartphones, Microsoft was posed with a great challenge. This was depicted by the competitive rivalry bucket (Teixeira 2015). Apple produces their own bucket and the smartphone producing companies such as Sony, Samsung have contract signed with Google for using their operating system and due to this the buyer bucket is low. Since the consumers are only using the operating system of Google and apple, the substitute is also regarded as low. For example, the blackberry has specialized features on setting emails which provides the flexibility of amending the settings. Unless the product of Microsoft would give special features like Apple and Google does. The students graduating from the University are able to come up with the organization they would like to choose under the Suppliers bucket. It provides them with the option of to work in the field such as Apple, Google and Microsoft as well. The organization would be able to achieve the product of high value if the are able to attract the employees who are highly skilled and utilizes them successfully. The last bucket is the threat of new entrant and this views the companies which are new in producing the smartphones or the development of the operating system. Lack of core competencies: One of the thing that helps the company in getting core competitive advantage are the core competencies which are primary drivers. Since it is developed through the process of deploying the capabilities and resources and is developed over time, which make it different from the other competitors. As the organization evolves and manages the resources, the core competencies also gets changed which becomes unique to the organization itself (Blandford 2012). As the consumers switched over to the other product, the innovation which Microsoft did in the core competencies lose out to the Googles android. The use of iOS and Android over the operating system of Window. As each passing day, the use of smartphone, the position of Microsoft was becoming weaker and on the other hand, smoother and better features of the operating system was developed by Google and Apple (Honghua and Juan 2014). 2014-2015 Sales revenue and net profit: Microsoft experienced growth in the sales revenue at an average of 10% after merger with Nokia. However, Nokia continue to experience a drop in the sales revenue but the drop in the year 2013 was comparatively less than 2012. The trend line become less steep in this year. Graph 2: (Source: created by author) The net profit of Microsoft, however dropped by US $ 9.9 billion and Nokia also witnessed a drop in the net profit in the year 2015 (Alcacer et al. 2014). Graph 3: (Source: created by author) Summary: It can be concluded form the case study that the merger was a fail strategy. The major reasons attributable to the failure of the merger was lack of resources, lack of innovation and lack of analysis of environment of industry. Microsoft came up with the strategy of merger to remain competitive in the market as it was losing out in the smartphone market. The strategy adopted could have been good but Microsoft has missed the boat to enter in the smartphone market. B. 2013: Combine value of Microsoft is equal to PV (Target) + PV (Acquirer)= Nokia (US$30B) + Microsoft (US$310B)= US$340B. The market capitalization as on 31st December, 2013 was US$342. This indicates that the combine value of Microsoft and Nokia is lower than the market capitalization by US $ 2 billion. The net advantage as a result of merger is US $ 2 billion. 2015: Combine value of Microsoft is equal to PV (Target) + PV (Acquirer)= Nokia (US$28B)+ Microsoft (US$440B)= US$468 Billion. The market capitalization as on 31st December, 2015 was US $ 478 billion. This means that the combine amount of Nokia and Microsoft is lower than the market capitalization by US $ 2 billion. The net advantage resulting from merger is US $ 11 billion. Comment: The net advantage form merger are negative for both the year. It can be said that the total combine value is lower than the market capitalization. Therefore, it can be concluded that synergy resulted in the loss rather than benefitting and ultimately leading to the failure of merger. C.The attitude of the management of the target company and the difference in culture is attributable to the reason of the failure of merger. Another reason of the failure of the merger is the lack of the sufficient knowledge of the industry by the organization which is acquiring (Abol 2015). The acquiring companies might not have the core competencies to attract the target audience. Some other reasons are the poor management by the target such as the working attitude of staffs and the structure of the organization. All this in turn contribute to the failure of the organization being merged or willing to merge. References: Abol, S.M., 2015.Cultural perspective of acquisitions between Microsoft and Nokia in Kenya(Doctoral dissertation, University of Nairobi). Alcacer, J., Khanna, T. and Snively, C., 2014. The Rise and Fall of Nokia.Harvard Business School Publishing. Blandford, R., 2012. Understanding Nokia's smartphone strategy decision.Retrieved June,12, p.2014. Bouwman, H., 2014. How Nokia Failed to Nail the Smartphone Market. Belgium, Econstor. Dhar Dhar, 2013. Two Case Studies in Mergers and Acquisitions: Why Some Succeed While Others Fail?. [Online] Microsoft News Center, 2013. Microsoft to Acquire Nokias Devices Services Business, License Nokias Patents and Mapping Services. [Online] Honghua, Q. and Juan, C., 2014. An Analysis on the Mergers and Acquisitions (MA) between Microsoft and Nokia from the Perspective of Patent Information: a Comparative Study.Journal of Intelligence,2, p.012. Marie, A., 2013 Strategic Analysis of Nokia Corporation.An undergraduate student journalVolume 3, p.59. Singh, N.P., 2014. Microsoft Acquired Nokia in Unipolar Operating System Market.Independent Journal of Management Production,5(3), pp.598-622. Teixeira, D.F.P., 2015.Microsoft-Nokia: stategy and valuation(Doctoral dissertation, Instituto Superior de Economia e Gesto). Westfall, C., 2015. After the MA Boom: now comes the hard part: chief financial officers, treasurers, chief accounting officers and other financial executives around the globe will be dealing with the hangover from an merger and acquisition binge that shows little signs of slowing.Financial Executive,31(2), pp.40-46.