Segmentation, Targeting & Positioning

University of Zimbabwe Graduate School of Management *Marketing Ma*nagement Question: Kotler (1988) has stated that: â€Å"The heart of modern strategic marketing can be described as STP – segmenting, targeting and positioning. ’’ Discuss this statement using appropriate examples. Introduction Market segmentation By definition market segmentation is the division of a market into different groups of customers with similar needs. Or to express it in another way, market segmentation is the division of a mass market into identifiable and distinct groups or segments, and each has common characteristics and needs and displays similar response to marketing actions. ‘’In essence it is the process of dividing a varied and differing group of buyers or potential buyers into smaller groups, within which broadly similar patterns of buyers exist. ’’ (Wilson and Gilligan, 2007, p. 318). There are several ways in which companies can segment their markets. Just as you can divide an orange up into segments you can divide the population as a whole into different groups of people or segments that have something in common. Marketers therefore look for variables they can use to divide up the population. According to Kotler (1997) the commonly used variables are: Geographic segmentation, demographic segmentation, psychographic segmentation and behavioural segmentation. Products can be aimed at a lifestyle. People are grouped according to the way they lead their lives and the attitudes they share. For example, young professionals may drive a sports car because of the image they want to portray. Married parents might want the same things, but have to provide for their children, which is a large extra cost. They will need a family car to suit their lifestyle. Thus you will find a couple that has just married and have no children, will go for a Mazda 3, while older couples with three or so children will go for a Mazda BT-50 because it is bigger and can accommodate the whole family. However the range and variety of marketing decisions suggest that any attempt to use a single basis for segmentation may result in incorrect marketing decisions as well as a waste of resources. Thus increasingly today you will find marketing strategies combining two or more basis for segmentation of their market. TARGETING Once the firm is satisfied that the segments warrants attention there are various ways in which a firm can then target a market. The first is a single product offering. In other words, the marketer targets a single product offering at a single segment in a market with many segments. For example, British Airway’s Concorde is a high value product aimed specifically at business people and tourists willing to pay more for speed. Identifying marketing targets enables organisations to find opportunities and tap into them. It gives firms the information needed to focus on the buyers that are interested in what they have to offer. This saves both time and money in an ever-changing society. However if you pursue one segment of your target market and the demand for your product decreases, so will your financial strength. In essence, you are putting all your eggs in one basket. When your firm becomes well established in a particular market segment, it may be difficult for you to move to another segment. This may occur due to your market reputation or popularity. For example, if Lorimark HR Consultants becomes known for helping college graduates find jobs, unemployed professionals may perceive them as only having the expertise to serve that market. Another downside of target marketing may that a large segment of the population may be left out in the cold. Though demographics and segmentation might give an overall view of the intended market, consumer spending habits change greatly, depending on trends and economic factors. With society taking on more of a unisex lifestyle businesses should be careful when using for example gender to target market. An example of a product that was traditionally targeted at women and is now being targeted with variations in strategy at men is hair colouring. Men now pay particular attention to their hair in much the same way as woman. Thus target marketing should be done with extra care taking into account all factors that may have an effect on the organization’s profitability and the perception or position it wants to create in the market. POSITIONING Thus positioning is all about perception and is inextricably linked to segmentation. It cannot be defined until the market has been divided into unique segments, and target segments have been selected. As perception differs from person to person, so do the results of the positioning map. Positioning reflects the â€Å"place† a product occupies in a market or segment. A successful position has characteristics that are both differentiating and important to consumers and the characteristic may or may not reflect reality. A position is effectively built by communicating a consistent message to consumers about the product and where it fits into the market in terms of the features, performance, quality, conformance, durability, reliability, style and design — through advertising, brand name, and packaging and all the other elements of marketing mix. Kotler, 1997, p. 301) For years OK Zimbabwe has constantly and consistently bombarded the minds of consumers’ with the message ‘†¦. where your money buys you more. ’ Thereby creating in the mind of the consumer that OK has the best prices and your dollar with OK can take you a long way. Another example w ill be that of Colgate and Surf by Unilever, these products are stuck in the minds of consumers (positioned), such that if someone is buying any other toothpaste or washing powder, not necessarily Colgate or surf, they will still refer to the product as Colgate or surf respectively. It is ‘the’ product in mind of the consumers. That is positioning. What is our current position? What does the space look like – what are the most important dimensions in the category? What are the other products in that space and where are they? What are the gaps, unfilled positions or ‘holes’ in the category? Which dimensions are most important? How do these attitudes differ by market segment? What position do we want to have? Some of the positioning opportunities for a product include: Finding an unmet consumer needs – or at least one that is not being adequately met now by completion? Identifying product strength that is both unique and important. Determining how to correct a product weakness and thereby enhance a product’s appeal. For example Ponds â€Å"new and improved†. Changing consumer usage patterns to include different or additional uses for the product. Identifying market segments, which represent the best targets for a product. How do we create a new positioning? Physical product differences. Communications- finding a memorable and meaningful way to describe the Positioning is not what you do to a product; ‘positioning is what you do to the mind of the prospect’. (www. s-m-a-r-t. com/Exp_brandpros. ) Accessed 3 September 2009. Other questions that the marketer should contend with in terms of positioning are: whom do I have to defeat to own the position, do I have the resources to do it, can I persist until I get there and are my tactics supporting the positioning objectives I have set. The positioning map below will show how the motor industry positions their products in the market. Positioning map: +High (price) From the above positioning map it can be concluded that products tend to bunch in the high price/low economy (fast) sector and also in the low price/high economy sector. There is an opportunity in the low price/low economy (fast) sector. Maybe Hyundai or Kia can consider introducing a low cost sport saloon. However it is all down to the perception of the market about the product. Conclusion Undertaking a Segmentation, Targeting and Positioning process is probably one of the most important processes management should undertake both at the onset of a new offer creation as well as part of a periodic revision of the portfolio of offers and strategies used by organization. A market research is always the starting point in the STP process; otherwise the organizations resources will be misdirected. References: Aaker A. David, (1995). Strategic Market Management, 4th Edition, John Wiley & Sons, Inc. Armstrong J. Scott, (2006). Strategic Marketing Management – A Business Process Approach. Brand pros available at http/www. s-m-a-r-t. com/Exp_brandpros. Accessed 3 September 2009. Grahame Dowling, (2004). Creating Corporate Reputation. Identity, Image and performance. Oxford University Press Inc. Kotler P, (1997). Marketing Management, Analysis, Planning, Implementation and Control, 9TH Edition, Prentice Hall. Malcolm H. B. McDonald, (1996) Marketing Plans, How to prepare them how use them, 3rd Edition, Butterworth-Heinemann. Wilson and Gilligan

Internet Addiction Essay

Abstract Problematic computer use is a growing social issue which is being debated worldwide. Internet Addiction Disorder (IAD) ruins lives by causing neurological complications, psychological disturbances, and social problems. Surveys in the United States and Europe have indicated alarming prevalence rates between 1.5 and 8.2% [1]. There are several reviews addressing the definition, classification, assessment, epidemiology, and co-morbidity of IAD [2-5], and some reviews [6-8] addressing the treatment of IAD. The aim of this paper is to give a preferably brief overview of research on IAD and theoretical considerations from a practical perspective based on years of daily work with clients suffering from Internet addiction. Furthermore, with this paper we intend to bring in practical experience in the debate about the eventual inclusion of IAD in the next version of the Diagnostic and Statistical Manual of Mental Disorders (DSM).Problematic computer use is a growing social issue which is bein g debated worldwide. Internet Addiction Disorder (IAD) ruins lives by causing neurological complications, psychological disturbances, and social problems. Surveys in the United States and Europe have indicated alarming prevalence rates between 1.5 and 8.2% [1]. There are several reviews addressing the definition, classification, assessment, epidemiology, and co-morbidity of IAD [2-5], and some reviews [6-8] addressing the treatment of IAD. The aim of this paper is to give a preferably brief overview of research on IAD and theoretical considerations from a practical perspective based on years of daily work with clients suffering from Internet addiction. Furthermore, with this paper we intend to bring in practical experience in the debate about the eventual inclusion of IAD in the next version of the Diagnostic and Statistical Manual of Mental Disorders (DSM). Keywords: Addiction, Computer, Internet, reSTART, Treatment. INTRODUCTION The idea that problematic computer use meets criteria for an addiction, and therefore should be included in the next iteration of the Diagnostic and Statistical Manual of Mental Disorders (DSM), 4th ed. Text Revision [9] was first proposed by Kimberly Young, PhD in her seminal 1996 paper [10]. Since  that time IAD has been extensively studied and is indeed, currently under consideration for inclusion in the DSM-V [11]. Meanwhile, both China and South Korea have identified Internet addiction as a significant public health threat and both countries support education, research and treatment [12]. In the United States, despite a growing body of research, and treatment for the disorder available in out-patient and in-patient settings, there has been no formal governmental response to the issue of Internet addiction. While the debate goes on about whether or not the DSM-V should designate Internet addiction a mental disorder [12-14] people currently suffering from Internet addiction are seeking treatment. Because of our experience we support the development of uniform diagnostic criteria and the inclusion of IAD in the DSM-V [11] in order to advance public education, diagnosis and treatment of this important disorder. CLASSIFICATION There is ongoing debate about how best to classify the behavior which is characterized by many hours spent in non-work technology-related computer/Internet/video game activities [15]. It is accompanied by changes in mood, preoccupation with the Internet and digital media, the inability to control the amount of time spent interfacing with digital technology, the need for more time or a new game to achieve a desired mood, withdrawal symptoms when not engaged, and a continuation of the behavior despite family conflict, a diminishing social life and adverse work or academic consequences [2, 16, 17]. Some researchers and mental health practitioners see excessive Internet use as a symptom of another disorder such as anxiety or depression rather than a separate entity [e.g. 18]. Internet addiction could be considered an Impulse control disorder (not otherwise specified). Yet there is a growing consensus that this constellation of symptoms is an addiction [e.g. 19]. The American Society of Addiction Medicine (ASAM) recently released a new definition of addiction as a chronic brain disorder, officially proposing for the first time that addiction is not limited to substance use [20]. All addictions, whether chemical or behavioral, share certain characteristics including salience, compulsive use (loss of control), mood modification and the alleviation of distress, tolerance and withdrawal, and the continuation despite negative consequences. DIAGNOSTIC CRITERIA FOR IAD The first serious proposal for diagnostic criteria was advanced in 1996 by Dr. Young, modifying the DSM-IV criteria for pathological gambling [10]. Since then variations in both name and criteria have been put forward to capture the problem, which is now most popularly known as Internet Addiction Disorder. Problematic Internet Use (PIU) [21], computer addiction, Internet dependence [22], compulsive Internet use, pathological Internet use [23], and many other labels can be found in the literature. Likewise a variety of often overlapping criteria have been proposed and studied, some of which have been validated. However, empirical studies provide an inconsistent set of criteria to define Internet addiction [24]. For an overview see Byun et al. [25]. Beard [2] recommends that the following five diagnostic criteria are required for a diagnosis of Internet addiction: (1) Is preoccupied with the Internet (thinks about previous online activity or anticipate next online session); (2) Needs t o use the Internet with increased amounts of time in order to achieve satisfaction; (3) Has made unsuccessful efforts to control, cut back, or stop Internet use; (4) Is restless, moody, depressed, or irritable when attempting to cut down or stop Internet use; (5) Has stayed online longer than originally intended. Additionally, at least one of the following must be present: (6) Has jeopardized or risked the loss of a significant relationship, job, educational or career opportunity because of the Internet; (7) Has lied to family members, therapist, or others to conceal the extent of involvement with the Internet; (8) Uses the Internet as a way of escaping from problems or of relieving a dysphoric mood (e.g., feelings of helplessness, guilt, anxiety, depression) [2]. There has been also been a variety of assessment tools used in evaluation. Young’s Internet Addiction Test [16], the Problematic Internet Use Questionnaire (PIUQ) developed by Demetrovics, Szeredi, and Pozsa [26] and the Compulsive Internet Use Scale (CIUS) [27] are all examples of instruments to assess for this disorder. PREVALENCE The considerable variance of the prevalence rates reported for IAD (between 0.3% and 38%) [28] may be attributable to the fact that diagnostic criteria and assessment questionnaires used for diagnosis vary between countries and studies often use highly selective samples of online surveys [7]. In their  review Weinstein and Lejoyeux [1] report that surveys in the United States and Europe have indicated prevalence rates varying between 1.5% and 8.2%. Other reports place the rates between 6% and 18.5% [29]. â€Å"Some obvious differences with respect to the methodologies, cultural factors, outcomes and assessment tools forming the basis for these prevalence rates notwithstanding, the rates we encountered were generally high and sometimes alarming.† [24] ETIOLOGY There are different models available for the development and maintenance of IAD like the cognitive-behavioral model of problematic Internet use [21], the anonymity, convenience and escape (ACE) model [30], the access, affordability, anonymity (Triple-A) engine [31], a phases model of pathological Internet use by Grohol [32], and a comprehensive model of the development and maintenance of Internet addiction by Winkler & Dà ¶rsing [24], which takes into account socio-cultural factors (e.g., demographic factors, access to and acceptance of the Internet), biological vulnerabilities (e.g., genetic factors, abnormalities in neurochemical processes), psychological predispositions (e.g., personality characteristics, negative affects), and specific attributes of the Internet to explain â€Å"excessive engagement in Internet activities† [24]. NEUROBIOLOGICAL VULNERABILITIES It is known that addictions activate a combination of sites in the brain associated with pleasure, known together as the â€Å"reward center† or â€Å"pleasure pathway† of the brain [33, 34]. When activated, dopamine release is increased, along with opiates and other neurochemicals. Over time, the associated receptors may be affected, producing tolerance or the need for increasing stimulation of the reward center to produce a â€Å"high† and the subsequent characteristic behavior patterns needed to avoid withdrawal. Internet use may also lead specifically to dopamine release in the nucleus accumbens [35, 36], one of the reward structures of the brain specifically involved in other addictions [20]. An example of the rewarding nature of digital technology use may be captured in the following statement by a 21 year-old male in treatment for IAD: â€Å"I feel technology has brought so much joy into my life. No other activity relaxes me or stimulates me like technolo gy. However, when depression hits, I tend to use technology as a way  of retreating and isolating.† REINFORCEMENT/REWARD What is so rewarding about Internet and video game use that it could become an addiction? The theory is that digital technology users experience multiple layers of reward when they use various computer applications. The Internet functions on a variable ratio reinforcement schedule (VRRS), as does gambling [29]. Whatever the application (general surfing, pornography, chat rooms, message boards, social networking sites, video games, email, texting, cloud applications and games, etc.), these activities support unpredictable and variable reward structures. The reward experienced is intensified when combined with mood enhancing/stimulating content. Examples of this would be pornography (sexual stimulation), video games (e.g. various social rewards, identification with a hero, immersive graphics), dating sites (romantic fantasy), online poker (financial) and special interest chat rooms or message boards (sense of belonging) [29, 37]. BIOLOGICAL PREDISPOSITION There is increasing evidence that there can be a genetic predisposition to addictive behaviors [38, 39]. The theory is that individuals with this predisposition do not have an adequate number of dopamine receptors or have an insufficient amount of serotonin/dopamine [2], thereby having difficulty experiencing normal levels of pleasure in activities that most people would find rewarding. To increase pleasure, these individuals are more likely to seek greater than average engagement in behaviors that stimulate an increase in dopamine, effectively giving them more reward but placing them at higher risk for addiction. MENTAL HEALTH VULNERABILITIES Many researchers and clinicians have noted that a variety of mental disorders co-occur with IAD. There is debate about which came first, the addiction or the co-occurring disorder [18, 40]. The study by Dong et al. [40] had at least the potential to clarify this question, reporting that higher scores for depression, anxiety, hostility, interpersonal sensitivity, and psychoticism were consequences of IAD. But due to the limitations of the study further research is necessary. THE TREATMENT OF INTERNET ADDICTION There is a general consensus that total abstinence from the Internet should not be the goal of the interventions and that instead, an abstinence from problematic applications and a controlled and balanced Internet usage should be achieved [6]. The following paragraphs illustrate the various treatment options for IAD that exist today. Unless studies examining the efficacy of the illustrated treatments are not available, findings on the efficacy of the presented treatments are also provided. Unfortunately, most of the treatment studies were of low methodological quality and used an intra-group design. The general lack of treatment studies notwithstanding, there are treatment guidelines reported by clinicians working in the field of IAD. In her book â€Å"Internet Addiction: Symptoms, Evaluation, and Treatment†, Young [41] offers some treatment strategies which are already known from the cognitive-behavioral approach: (a) practice opposite time of Internet use (discover patientâ €™s patterns of Internet use and disrupt these patterns by suggesting new schedules), (b) use external stoppers (real events or activities prompting the patient to log off), (c) set goals (with regard to the amount of time), (d) abstain from a particular application (that the client is unable to control), (e) use reminder cards (cues that remind the patient of the costs of IAD and benefits of breaking it), (f) develop a personal inventory (shows all the activities that the patient used to engage in or can’t find the time due to IAD), (g) enter a support group (compensates for a lack of social support), and (h) engage in family therapy (addresses relational problems in the family) [41]. Unfortunately, clinical evidence for the efficacy of these strategies is not mentioned. Non-psychological Approaches Some authors examine pharmacological interventions for IAD, perhaps due to the fact that clinicians use psychopharmacology to treat IAD despite the lack of treatment studies addressing the efficacy of pharmacological treatments. In particular, selective serotonin-reuptake inhibitors (SSRIs) have been used because of the co-morbid psychiatric symptoms of IAD (e.g. depression and anxiety) for which SSRIs have been found to be effective [42-46]. Escitalopram (a SSRI) was used by Dell’Osso et al. [47] to treat 14 subjects with impulsive-compulsive Internet usage disorder. Internet usage  decreased significantly from a mean of 36.8 hours/week to a baseline of 16.5 hours/week. In another study Han, Hwang, and Renshaw [48] used bupropion (a non-tricyclic antidepressant) and found a decrease of craving for Internet video game play, total game play time, and cue-induced brain activity in dorsolateral prefrontal cortex after a six week period of bupropion sustained release treatment. Methylphenidate (a psycho stimulant drug) was used by Han et al. [49] to treat 62 Internet video game-playing children diagnosed with attention-deficit hyperactivity disorder. After eight weeks of treatment, the YIAS-K scores and Internet usage times were significantly reduced and the authors cautiously suggest that methylphenidate might be evaluated as a potential treatment of IAD. According to a study by Shapira et al. [50], mood stabilizers might also improve the symptoms of IAD. In addition to these studies, there are some case reports of patients treated with escitalopram [45], citalopram (SSRI)- quetiapine (antipsychotic) combination [43] and naltrexone (an opioid receptor antagonist) [51]. A few authors mentioned that physical exercise could compensate the decrease of the dopamine level due to decreased online usage [52]. In addition, sports exercise prescriptions used in the course of cognitive behavioral group therapy may enhance the effect of the intervention for IAD [53]. Psychological Approaches Motivational interviewing (MI) is a client-centered yet directive method for enhancing intrinsic motivation to change by exploring and resolving client ambivalence [54]. It was developed to help individuals give up addictive behaviors and learn new behavioral skills, using techniques such as open-ended questions, reflective listening, affirmation, and summarization to help individuals express their concerns about change [55]. Unfortunately, there are currently no studies addressing the efficacy of MI in treating IAD, but MI seems to be moderately effective in the areas of alcohol, drug addiction, and diet/exercise problems [56]. Peukert et al. [7] suggest that interventions with family members or other relatives like â€Å"Community Reinforcement and Family Training† [57] could be useful in enhancing the motivation of an addict to cut back on Internet use, although the reviewers remark that control studies with relatives do not exist to date. Reality therapy (RT) is supposed t o encourage individuals to choose to improve their  lives by committing to change their behavior. It includes sessions to show clients that addiction is a choice and to give them training in time management; it also introduces alternative activities to the problematic behavior [58]. According to Kim [58], RT is a core addiction recovery tool that offers a wide variety of uses as a treatment for addictive disorders such as drugs, sex, food, and works as well for the Internet. In his RT group counseling program treatment study, Kim [59] found that the treatment program effectively reduced addiction level and improved self-esteem of 25 Internet-addicted university students in Korea. Twohig and Crosby [60] used an Acceptance & Commitment Therapy (ACT) protocol including several exercises adjusted to better fit the issues with which the sample struggles to treat six adult males suffering from problematic Internet pornography viewing. The treatment resulted in an 85% reduction in viewing at post-treatment with results being maintained at the three month follow-up (83% reduction in viewing pornography). Widyanto and Griffith [8] report that most of the treatments employed so far had utilized a cognitive-behavioral approach. The case for using cognitive-behavioral thera py (CBT) is justified due to the good results in the treatment of other behavioral addictions/impulse-control disorders, such as pathological gambling, compulsive shopping, bulimia nervosa, and binge eating-disorders [61]. Wà ¶lfling [5] described a predominantly behavioral group treatment including identification of sustaining conditions, establishing of intrinsic motivation to reduce the amount of time being online, learning alternative behaviors, engagement in new social real-life contacts, psycho-education and exposure therapy, but unfortunately clinical evidence for the efficacy of these strategies is not mentioned. In her study, Young [62] used CBT to treat 114 clients suffering from IAD and found that participants were better able to manage their presenting problems post-treatment, showing improved motivation to stop abusing the Internet, improved ability to control their computer use, improved ability to function in offline relationships, improved ability to abstain from sexually explicit online material, improved ability to engage in offline activities, and improved ability to achieve sobriety from problematic applications. Cao, Su and Gao [63] investigated the effect of group CBT on 29 middl e school students with IAD and found that IAD scores of the experimental group were lower than of the control group  after treatment. The authors also reported improvement in psychological function. Thirty-eight adolescents with IAD were treated with CBT designed particularly for addicted adolescents by Li and Dai [64]. They found that CBT has good effects on the adolescents with IAD (CIAS scores in the therapy group were significant lower than that in the control group). In the experimental group the scores of depression, anxiety, compulsiveness, self-blame, illusion, and retreat were significantly decreased after treatment. Zhu, Jin, and Zhong [65] compared CBT and electro acupuncture (EA) plus CBT assigning forty-seven patients with IAD to one of the two groups respectively. The authors found that CBT alone or combined with EA can significantly reduce the score of IAD and anxiety on a self-rating scale and improve self-conscious health status in patients with IAD, but the effect obtained by the combined therapy was better. Multimodal Treatments A multimodal treatment approach is characterized by the implementation of several different types of treatment in some cases even from different disciplines such as pharmacology, psychotherapy and family counseling simultaneously or sequentially. Orzack and Orzack [66] mentioned that treatments for IAD need to be multidisciplinary including CBT, psychotropic medication, family therapy, and case managers, because of the complexity of these patients’ problems. In their treatment study, Du, Jiang, and Vance [67] found that multimodal school-based group CBT (including parent training, teacher education, and group CBT) was effective for adolescents with IAD (n = 23), particularly in improving emotional state and regulation ability, behavioral and self-management style. The effect of another multimodal intervention consisting of solution-focused brief therapy (SFBT), family therapy, and CT was investigated among 52 adolescents with IAD in China. After three months of treatment, the scores on an IAD scale (IAD-DQ), the scores on the SCL-90, and the amount of time spent online decreased significantly [68]. Orzack et al. [69] used a psychoeducational program, which combines psychodynamic and cognitive-behavioral theoretical perspectives, using a combination of Readiness to Change (RtC), CBT and MI interventions to treat a group of 35 men involved in problematic Internet-enabled sexual behavior (IESB). In this group treatment, the quality of life increased and the level of depressive symptoms decreased  after 16 (weekly) treatment sessions, but the level of problematic Internet use failed to decrease significantly [69]. Internet addiction related symptom scores significantly decreased after a group of 23 middle school students with IAD were treated with Behavioral Therapy (BT) or CT, detoxification treatment, psychosocial rehabilitation, personality modeling and parent training [70]. Therefore, the authors concluded that psychotherapy, in particular CT and BT were effective in treating middle school students with IAD. Shek, Tang, and Lo [71] described a multi-level counseling program designed for young people with IAD based on the responses of 59 clients. Findings of this study suggest this multi-level counseling program (including counseling, MI, family perspective, case work and group work) is promising to help young people with IAD. Internet addiction symptom scores significantly decreased, but the program failed to increase psychological well-being significantly. A six-week group counseling program (including CBT, social competence training, training of self-control strategies and training of communication skills) was shown to be effective on 24 Internet-addicted college students in China [72]. The authors reported that the adapted CIAS-R scores of the experimental group were significantly lower than those of the control group post-treatment. The reSTART Program The authors of this article are currently, or have been, affiliated with the reSTART: Internet Addiction Recovery Program [73] in Fall City, Washington. The reSTART program is an inpatient Internet addiction recovery program which integrates technology detoxification (no technology for 45 to 90 days), drug and alcohol treatment, 12 step work, cognitive behavioral therapy (CBT), experiential adventure based therapy, Acceptance and Commitment therapy (ACT), brain enhancing interventions, animal assisted therapy, motivational interviewing (MI), mindfulness based relapse prevention (MBRP), Mindfulness based stress reduction (MBSR), interpersonal group psychotherapy, individual psychotherapy, individualized treatments for co-occurring disorders, psycho- educational groups (life visioning, addiction education, communication and assertiveness training, social skills, life skills, Life balance plan), aftercare treatments (monitoring of technology use, ongoing psychotherapy and group work), a nd continuing care (outpatient treatment) in an individualized, holistic approach. The first  results from an ongoing OQ45.2 [74] study (a self-reported measurement of subjective discomfort, interpersonal relationships and social role performance assessed on a weekly basis) of the short-term impact on 19 adults who complete the 45+ days program showed an improved score after treatment. Seventy-four percent of participants showed significant clinical improvement, 21% of participants showed no reliable change, and 5% deteriorated. The results have to be regarded as preliminary due to the small study sample, the self-report measurement and the lack of a control group. Despite these limitations, there is evidence that the program is responsible for most of the improvements demonstrated. CONCLUSION As can be seen from this brief review, the field of Internet addiction is advancing rapidly even without its official recognition as a separate and distinct behavioral addiction and with continuing disagreement over diagnostic criteria. The ongoing debate whether IAD should be classified as an (behavioral) addiction, an impulse-control disorder or even an obsessive compulsive disorder cannot be satisfactorily resolved in this paper. But the symptoms we observed in clinical practice show a great deal of overlap with the symptoms commonly associated with (behavioral) addictions. Also it remains unclear to this day whether the underlying mechanisms responsible for the addictive behavior are the same in different types of IAD (e.g., online sexual addiction, online gaming, and excessive surfing). From our practical perspective the different shapes of IAD fit in one category, due to various Internet specific commonalities (e.g., anonymity, riskless interaction), commonalities in the underlying behavior (e.g., avoidance, fear, pleasure, entertainment) and overlapping symptoms (e.g., the increased amount of time spent online, preoccupation and other signs of addiction). Nevertheless more research has to be done to substantiate our clinical impression. Despite several methodological limitations, the strength of this work in comparison to other reviews in the international body of literature addressing the definition, classification, assessment, epidemiology, and co-morbidity of IAD [2-5], and to reviews [6-8] addressing the treatment of IAD, is that it connects theoretical considerations with the clinical practice of interdisciplinary mental health experts working for years in the field of Internet addiction. Furthermore, the current work gives a good  overview of the current state of research in the field of internet addiction treatment. Despite the limitations stated above this work gives a brief overview of the current state of research on IAD from a practical perspective and can therefore be seen as an important and helpful paper for further research as well as for clinical practice in particular.

The Impacts of Economics Crisis in Indonesia

The economic crisis, which hit Indonesia, began in Thailand in June 1997. It rapidly spread, causing stocks to tumble and many Asian currencies to fall, the worst of all the Indonesian Rupiah. Indonesia†s worsening economic situation is mainly due to the sharp depreciation of Rupiah against the US dollar. Being out of our government†s control, the Rupiah keeps on sliding further and at its lowest point touched a level of Rp. 17,000 against the US dollar. Realizing that the economy will not recover overnight, it takes time and serious effort to bring back the economy on the right track. In order to cover the budget deficit, the Indonesian government asked the assistance from the International Monetary Fund. As for the revival of the economic crisis, Indonesia needs massive aid. The crisis has caused the banking sector to collapse dramatically. The large number of banks in my country might be one of the main problems as there are more than 265 units. The recent economic crisis has put more burdens on the banking sector so the government decided to close down 16 ailing private banks without a full guarantee on the return of their deposit funds. This has forced depositors to draw their savings and moved to foreign and government banks which resulted in a big rush for several private banks. Due to this, The Central Bank has to print new money for injection and bailing out the insolvent banks caused by the rush. By printing money, the government unintentionally prompted the outbreak of hyperinflation. Panicked by this, the Central Bank decided to raise interest rates. As a result, companies that were highly dependent on loans are forced to close down. Many Indonesian factories are facing financial difficulties due to the huge and extensive overseas debts and a tremendous dependence on importing raw material and supplies. We know that most factories have been too dependent on imports and their owners much too attracted to foreign capital without hedging. They are facing problems with loan repayment due to the drastic depreciation of the Rupiah. Even medium and small enterprises are facing the same problem. They have difficulty in running their businesses since they could not afford to pay the high interest rate. Meanwhile, the economy continues to deteriorate with the annual inflation rate once rising more than 100%. A lot of factories are closing down and the number of unemployed people increase. The increasing numbers of companies that went bankrupt and the factories, which are closing down, have intensified the quantity of jobless people and unemployment. To anticipate the long crisis, most companies have to restructure their management systems. It is important in the crisis era for companies to achieve efficiency and stick to market oriented operation. For efficiency, companies cannot avoid but reducing the operation cost and working hours. This resulted in the huge number of lay-off and cutting down number of employees. According to prediction, this crisis has caused at least 20 million people to become jobless, 20% of the school children are at serious risk of dropping out of school as a result of shrinking family incomes, soaring unemployment, and hyperinflation. Along with the severe drought, which threatened to push as many as 50 million people into poverty, increasing unemployment, hunger and poverty has also been created. This serious problem has incited crime, chaos, and social unrest. Poor people can no longer afford to buy staple food and basic essential commodities. Even subsidies could no longer assist with the people becoming more easily tempted and incited to commit crime. Stealing, robbing, looting, destroying, and burning could no longer be avoided. The tragedy was on May 14, 1998, when the mass riots started in Jakarta. The angry mobs started to loot, destroy and burn down shops, supermarkets, cars, housing complexes and even the Chinese minority became the target by being physically assaulted and abused. The reason is because most Chinese dominate the business factor. Direct losses are approximately US$ 909 million. This resulted in a stagnation of the business, transportation and distribution sector since most Chinese have fled the country. This mid-May riot has left a traumatic effect on me. I am deeply grieved that these things should happen to my own country and people. Motivated by this tragedy, I promise that I will contribute with my knowledge to help my country in difficult time like now. My strong commitment is to try to minimize the impact of the economic crisis.

Government, Military, and Media Research Paper Example | Topics and Well Written Essays - 2500 words

Government, Military, and Media - Research Paper Example In the history it can be seen that these trio should had a firm connection among them. Or in another sense it can be said that government with the help of military had controlled the media and thus media was compelled to put forward the desired news of the authorities. In places where this trio lacked close knit, there occurred many problems resulting to the overturn of governments. So a government always looks a watchful eye on the function of the media. The present essay tries to make an analytical study on the relations of these three agencies in the society and in particularly with the media in the American system. Scope of the subject: The relationship between government, military, and media is highly talked about in the present world. The government takes military as a strong agency to accomplish the policies of the government and the same policies are given popular concern through the help of the media. The media is the link between the public and the military or government. B y analysing the relationship between government and media, the students of media studies get the notion of how the media is working as the link and how the media is used by both government and military to propagate its interests and policies. ... Sure, the term has aimed to put forward what its subjects like to have. And in this regard it is the general goodness of the people that should be the watch word of t he government. Abraham Lincoln’s famous words, â€Å"a government of the people, by the people and for the people† denote the basic concept of how a government should be. True in the world many types of government can be seen. Most of them are formed in the democratic grounds, but at the same time, some governments are controlled by autocratic rulers. For example, the government in Iraq was ruled by Saddam Hussein who at first acted as the president of the country but later he turned himself to be an autocrat. Many such instances of this category can be seen in the world. The government has to get away from vested interests and has to safeguard the security and prosperity of the people. So it has set up an army as an agency to protect the people and country. Army acts on what the government is ordered. In some countries this agency turns the government down and rules the nation. In such instances the government is formed by the military. The case of Pakistan is an example. The army headed by Pervez Musharraf on 12 October 1999 overturned the Nawaz Sharif government. When the army assumes to be the government it has to take two sided roles – to rule the nation and safeguard the country. Whatever the government be the primary aim of it is to keep a favourable condition in the state for a peaceful and prosperous living. A government always stands with its army. If the army is strong and if it is acting upon the orders of the government the government stands as powerful. The example of it can be seen in many countries like USA, Britain, China, India, etc. And if it is on the other hand, a

Entrprise resource planning Essay Example | Topics and Well Written Essays - 500 words

Entrprise resource planning - Essay Example It also helps maintaining adequate inventory levels within the organization. There are three primary factors or influencers in aggregate forecast accuracy include regulation changes, economic conditions and analyst characteristics changes. 2. Explain the Outsourcing Decision process used by the major US Automotive OEMs in Shedding most component manufacturing (e.g. Delphi, Visteon), while maintaining Most Metal Stamping and Powertrain Manufacturing. Outsourcing remains firmly entrenched in the business. Therefore, companies mostly focus on the significance of the decision-making process during outsourcing. By engaging in the Outsourcing Decision Process, most US Automotive OEMs aim at increasing efficiency and saving costs in shedding component manufacturing during powertrain manufacturing and metal stamping. In doing the decision process, most OEMs tend to use the Outsourcing Decision matrix, which entails the operational performance. The processes, in this case, include forming a strategic alliance, retaining, and outsourcing. On the other hand, using the matrix tool entails first identifying the tasks strategic importance, identifying the contribution of the operational performance and plotting the automotive OEMs tasks on the matrix. A more detailed insight in reference to outsourcing decision process used by most automotive OEMs includes preparing, selecting the vendor, transition, managing relationship and reconsideration. During the preparation phase, the automotive OEMs engage in sourcing options, strategies, and the configuration activities. On the other hand, during the selection of the vendor, most automotive companies do the negotiation after choosing the vendor. The transition process entails defining the communication and knowledge exchange. It also entails assets, people and information transfer. Managing relationship, in this case, entails ensuring that the relationships last thus management of the success

Evaluating Contracts Essay Example | Topics and Well Written Essays - 1500 words

Evaluating Contracts - Essay Example ract on the other hand is one whereby the government compensates the contractor for the total admissible costs that are incurred during the implementation of the contract. Such contracts are normally used for purposes of study as well as progression, especially with non-profit corporations. The contractor stands to gain nothing in this kind of contract (Shealey, 1938). Fixed price contracts have both advantages and disadvantages for the supplier. For the service provider, the contract means he or she is able to tell how much they are to be reimbursed for their services. The contractor does not have to be concerned about the changing elements or quibble with the customer about the cost of materials. Elements as well as prices are set prior to the commencement of the job. Another benefit is that, while the contractor risks facing costs that higher than anticipated, it also is not compulsory for it to miscue savings if the costs prove otherwise. Dealing with such contracts enables the purveyor gain a lot of practical experience with the sort of contracts that potential clientele e.g. the government would prefer. A disadvantage with these agreements is that a lot of the financial risk is placed on the service provider than the client. After the pact has been put in place with a steady permanent price, the client is under no obligation to cover or pay higher costs. A cost reimbursement agreement has its perks and pitfalls as well. These contracts are time and again used when long term worth is of greater vitality than cost. As opposed to the fixed price contract, here, the service provider has very little reason to cut edges. The end cost could be less than the fixed price contract since the contractor is not gratified to inflate prices so as to cover hazards. Conversely, the contract does not provide sufficient certainty as to what the final cost will be. There is not as much of incentive as there is in the other type of agreement. Additional management and oversight

Essay Example | Topics and Well Written Essays - 750 words - 66

Essay Example As a function of this dynamic, this brief analysis will seek to discuss the ways in which non-state combatants are viewed within the modern context, the ways in which the letter of the law of the Geneva Convention’s framework necessarily deals with such individuals, and the outlook for the future that will likely exist with relation to a more widespread inclusion of non-state combatants within the umbrella of human protection and recognition that the Geneva Convention necessarily affords. With respect to the first topic, one need not look far in order to recognize the way in which al Qaeda most certainly fulfills the role of a non-state combatant within the current geo-political model (Zelikow 6). As such, countries such as the United States have had more than a difficult time determining in what ways captured al Qaeda fighters should be dealt with. Due to the fact that al Qaeda fighters are intrinsically related to terrorism and the non-state struggle of radical Islamic ideology, nations that capture their fighters do not have clear options for which to deal with these individuals. For the most part, rehabilitation is not an option. In the same way, keeping them confined without trial is openly problematic (Yoo 141). Likewise, trying them under martial or civilian court systems prove to be highly problematic due to the fact that by doing so, the state in question (prosecution) would have to engender the defendants with a degree of rights and privileges that are inco nsistent with the forces they represent or the jurisdiction that they ultimately engaged in the act of violence/theater of war. With regards to the way in which the Geneva Convention deals with such individuals as have been described, the fact of the matter is that it does not. Naturally, if a codicil to the Geneva Convention had been included that specified the way in which states could and should deal with non-state actors and members of

Learning agreement Essay Example | Topics and Well Written Essays - 500 words - 1

Learning agreement - Essay Example Kim. This will be the best opportunity to capitalize on his experience as well as maximize on the growing interactions I will have with other employees at the workplace. The department has three main areas where I will spend at least five hours a week at each to learn as much as I can during my internship program. This will provide at least three intense rotations as explained below. The first rotation will involve the shelving of the goods as they come. With the busy schedules here, the number of suppliers is also high and the work required when shelving will be intense. I will be receiving the supplies and making sure that they are shelved. Before shelving hem, I will have to check the expiry date. This will mean that the first foods to go will be those having short expiry dates and making sure that the arrangement reflects the need to follow the restrictions accorded (Ojugo 116-7). The obsolete stock will have to be shelved in other areas away from the fresh supplies. I will also need to take stock of the expired stock, spoiled stock, damaged stock and provide evidence of the same. In the process of documenting these stocks, I will have to check on the environment of the stocks and make sure that everything is working as required. The goal is to establish the proper storage requirements and standards (Ojugo 117). The second rotation will involve serving. With the growing need to make everything work towards the growth of my skills, it is only important to learn how to make good servings and also appreciate cleanliness as a way of making everyone happy with my work. I understand that the pressures emanating from the different orders within the workplace will always make it difficult to reach the level of indulgence needed to attain growth within my preferred level of indulgence. The third rotation will be in the management sector where I will be conducting trainings. The aim is to ensure

Relevant Information for Decision Making Essay Example | Topics and Well Written Essays - 500 words

Relevant Information for Decision Making - Essay Example packing with this eventual end in mind would be something that the company would be losing money on in the short run; yet something that it was willing to doing order to both see to the needs of the environment as well as engage the customer with the idea that it was a primary focus of the brand to seek to develop a degree of sustainability. Naturally, as with any key decision, relevant and non-relevant costs both factors into such an implementation. As such, this brief analysis will consider the relevant and non-relevant costs associated with management’s decision with regards to aforementioned issue. The change mechanism which will be discussed herein took place over a period of two weeks during the beginning of September 2012. Of course the relevant costs associated with such a change will necessarily be those associated with the differential between the cost of continuing to provide the old form of packaging as opposed to the new. With respect to this differential, as has been noted, it will be more expensive for the firm to engage in the new form of packaging due to the fact that it will require new and emergent technology to be utilized in seeking to reduce the overall amount of waste generated as well as seeking to ensure that the waste that is generated is both photosynthetically degradable as well as biodegradable in enhanced ways. Similarly, the key non-relevant cost associated with this decision is the manner and degree to which the customer will readily embrace the new packaging and/or find themselves unhappy with the changes that have been wrought. This concern is of course highly relevant and important in an industry that is oftentimes subject to the dissatisfaction of consumers based on no other rational than a key component of expected value that they have grown accustomed to has changed or is slightly differentiated than before (Argawal et al 2011). Implementing such a change was not especially difficult from the employee approach as

Human skeleton. What kinds of information can human skeletons give us Essay

Human skeleton. What kinds of information can human skeletons give us about past lifestyles - Essay Example To effectively study the past human lifestyle, archeologists examine human remains of ancient societies and this where the human skeletons comes handy. Such human materials such as the skeletons, food remains, wrecks of buildings, and human artifacts help the archeologists to rebuild the human past lifestyle. All the information recorded about the human materials such as the human skeletons are referred to as archeological records. These records comprise of all the humans occupying the areas of interest and the remains of human material in those areas. These records are used for study through laboratory examinations of the materials and excavations and field studies. Archeologists have to excavate human graveyards and get the human skeleton to their study stations for the development of their research on the human past lifestyle. The skeletons excavated are an important source of information about the human past lifestyle. The previous and medieval burials are generally unspecified. However, they give important information on average human being that is otherwise uncommon in historical findings. They are in information about the past beliefs, handling of the dead and ritual behavior. Skeletons can provide relevant kinds of information for one to study the past human lifestyle. As a result of this fact, the archeologists have to first of all examine the physical vestiges of real people. Study of the human skeleton gives a new dimension of the human past life such as their health, and the form of their population which constitutes to their lifestyle. To study the past human lifestyle, the fundamental requirements by the archeologists include; the sex and age composition of the population, the ailments of the past, the common strains and stresses of daily life, and the appearance and physical size. Skeletons help archeologists in their study about the past human life by giving hints or actual age information about the fossils. It is not a reliable and valid method to determine age just by the size of the skeleton. Skeletons can give age information by studying the trimmings of long bones and other sections of the bones separated in the children’s skeleton. The detachments give room for the bone to grow. The separated bones, called epiphyses, all combine at distinct ages. The phase of bones combining is used by the archeologists to age an adolescent. Skeletons also provide the relevant information on age by studying the teeth system. Permanent molar grows at the age of six. However, studying the ageing skeletons to give age information is more challenging. Such information provided by the skeletons is helpful in providing information on the different diets eaten by the people in the past. From a closer look of the tooth wear in the skeletons, one can understand the kinds of foods by the past people and this closely gives the researcher the lifestyle lived by the past people. The archeologists then classify the skeletons into three pre- established categories namely; old, middle age, and young. Such information is vital in studying the different past human lifestyle according to the various age class that existed in the past age class. Another important type of information the human skeleton can provide for a comprehensive study of the past human lifestyle is the information on sex. It is challenging to use the skeletons to determine the sex of a child that had not reached the puberty stage. To easily determine the sex of an adult, archeologists look at the pelvis having in mind that, women have bowl-shaped and wide pelvis while that of men is narrow and tall. By looking at such differences in the skeletons, relevant informat

Later tell u Lab Report Example | Topics and Well Written Essays - 1750 words

Later tell u - Lab Report Example l perspective, television programme makers desire to cater to more audiences of different age groups to increase their popularity that in turn increases competitive challenges within the sector (Higher Education Statistics Agency Limited, 2014). To comprehend this phenomenon from a critical perspective, the entire study has been based on the television programme rating and its popularity among different age groups. Contextually, to identify the popularity of television channels among different age groups of the UK, BBC1 channel has been selected as the media outlet. Both industrial as well as general perspectives have been considered when evaluating BBC’s performance within the UK market in the recent phenomenon. From the varied channels of the UK, BBC 1 is one of the renowned television channels. In the first phase of its development, BBC was known for its news broadcast. Presently, BBC is an established network, which has multiple channels for different age groups. Moreover, BBC always provides quality news to its viewers. Since, 1997 BBC has appeared in news broadcast field and until now, has created milestones for its rival channels. BBC is the first news broadcaster, which presents news about the overall the world. The digitalized platform has enriched BBC’s journey, enhancing and diversifying its contents to a substantial extent. In the 2013, BBC also announced its High Definition (HD) simulcast, which has helped to enhanced its viewer ship more than previous times (Media Tel, 2014). In the present scenario, the popularity of television channels is judged under different scales. Under Television Rating Points (TRP), television association has measured satellite channel reach. In this regard, to identify the actual rate of popularity of BBC 1 among different age groups, a survey report has been used to avail proper results. Media Tel is the source from where all data regarding BBC has been gathered. Based on the September 2014 data of MediaTel, BBC

Practical Play Analysis Essay Example for Free

Practical Play Analysis Essay Theme/Vision Guan Hanqing’s Snow in Midsummer centers on the idea of social injustice and human suffering particularly the unfair treatment of poor people during the Chinese Golden Era.   The play must transcend a great sense of oppression as intended by its playwrights to reflect the dark side of the society they were in, as the main character (Dou E) leaves a horrifying curse as her unjust death served as a living proof of how under-class people like her are taken for granted and are short-lived despite living a virtuous life while the evil ones prevailed. This issue still continues in the modern world so it is important that the story lives up to its purpose of making the audience reflect on the existence of tyranny in the society and what should be done in order to put an end to it.   Every main character’s role should be well emphasized in order to make the message of the story more understandable.   The characters must be very much convincing to the extent that they are almost taking the audience back to Yuan Dynasty. An article made by Huo Jianyi, Yuan Dynasty Zaju, tells about how Guan Hanqing himself gave up his profession of being a doctor and chose to serve the public by writing plays that exposed the dark side of the society, particularly the indulgence in wine and women as a way of life especially for the Yuan rulers.   He and his fellow playwrights used their talents and knowledge in exposing tyranny and through their theatrical creations, spoke on behalf of the suffering masses despite the Yuan rulers forbidding it.   The success of this play will be achieved if the same fiery passion is justified by the characters. Stage Type and Settings The play is artistic therefore it would be ideal to use a proscenium or picture frame stage.   It is not necessary to use a traditional proscenium stage with its common features like a large archway near the stage front or a curtain in order to close it during act or scene breaks.   It is enough that the stage is raised several feet enough for the audience to see the view of the play while directly facing it (â€Å"Stage:† Wikipedia). As the Snow in Midsummer is a classic play based on a Han Dynasty folk tale (although popularized in the Yuan Dynasty), the prevailing theme should be based on the said period.   The backdrop must contain both unique and artistic images depicting a usual old Chinese scenario like that of a painting.   Images of courtyard houses should be used.   These residences would represent the different social status that coexisted in that period. Based on Spiro Kostof’s A History of Architecture, traditional Chinese courtyard houses (such as the siheyuan) is composed of several individual houses around a square, where each house is owned by a different member of the family.   Aside from this, more houses can also be constructed for additional family members that need to be accommodated. There must be a strong sense of tranquility and privacy which should prevail and be maintained despite strong and loud scenes in the play. Garden and water is also a usual feature with these residences.   The outermost part of these residences is where strangers are entertained while the innermost one is set apart for intimate friends and family members of the owner. Since the title of the play contains the word snow, then winter is another requirement for the play, in fact for almost the entirety of the play.   This should allow an atmosphere of gloominess to dominate the stage, making the literal coldness of winter almost felt and intensified by the cold hearts of the villains in the play.   The snow plays a critical part in this and it should fall dramatically on stage with the proper sad music background going with it.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Last but not the least, there must be flowers included.   They should either be illustrated in the backdrop as part of the stage props.   Flowers have been a great part of Chinese art just like the dragon and bird illustrations they use in their antique porcelains.   As a whole, the entire stage must become a big canvass of living Chinese art. Stage Directions   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The director is responsible for bringing out the good quality of the characters’ acting and the stage production.   Therefore he must be focused and fully aware of the background of the play so as to properly angle it. Directions are made up of details being heard and seen by the audience.   These should be explained well in the script so as not to confuse the director, the actors or even the designers.   The three kinds of stage directions must be considered, namely:   (1) scene directions, (2) staging directions, and (3) character stage directions. In the script, scene directions are indented at a measurement of 3.5 inches from the left side of the margin and 1 inch from the right.   This indicates the fundamental place and time of the scene with details of the events on stage as the lights come up or become dim (â€Å"How to Format a Stage Play†).   Let us take scene one, act one of the play Snow in Midsummer as indicated in the script:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   SCENE ONE (The period was between 1279-1368 A.D.   In a typical Chinese village lives MISTRESS CAI, a widow, who appears on stage with a sign of great anticipation on her face.   She paces at the center of the stage in her long, loose gown with wide sleeves and narrow cuffs.   Then she faces the audience with the same facial expression.) Second is the staging directions.   This contains the description of a certain scene such as the entrance, exit, and struggles of characters on stage, as well as the changes in lighting effects or musical background. MRS. CAI: Where? (The Doctor strangles the widow with the rope. Enter Old Zhang and his son Donkey. As they rush forward the Doctor takes to his heels. Old Zhang revives Mistress Cai.) DONKEY: Its an old woman, dad, nearly strangled to death. Last would be the character stage directions.   These are short descriptive lines in parenthetical form sometimes placed under the name of the character.   This shows the appropriate body language while delivering a certain line (â€Å"How to Format a Stage Play†).   This particular direction puts more identity on acting.   Here is another example. MRS. CAI (crying): Ah, poor child! How am I going to break this to you? Make up The characters’ makeup for the Snow in Midsummer need not look like that from a Chinese opera although it may be elaborated to reflect its rich culture.   It must enhance their acting and facial expression.   A kabuki effect is suggested if the production team would like to add a little animation to it and lessening its tragic base. Dou E and Mistress Cai’s makeup may use thick foundation with a rosy base to show femininity.   However the application must be heavier on Mistress Cai to distinguish her age along with some fake wrinkles.   The eyebrows must be enhanced with a thick black color while the lips are pouty and deep red. As for the elder male actors (Doctor Lu, Dou Tianzhang, and Old Chang), a yellow base makeup can be used contrasted with a thick pink blush on.   The eyebrows may also be enhanced however for the male antagonist (Donkey Chang), eye brows should be enhanced with an upward effect at both ends.   Once again the appearance of wrinkles should distinguish ages. Basic Pointers for applying stage makeup According to Kate Hillard on her article Application of Stage Makeup, makeup is often applied on thick layers. Unlike the movies where the camera can focus on the actor’s face, audiences cannot afford to this kind of facility on stage plays.   The makeup used for the Snow in Midsummer should be elaborate and bright especially with characters representing the high-class society.   There may also be gradual moderation of the makeup for the middle and lower class members but the artist must make sure that it is enough in maximizing the actor’s emotions on stage.   Sometimes even the dark layers of makeup disappear on the glaring lights. A thick, heavy cream foundation should be applied first which be a little bit darker than the skin tone.   The placing of foundation should be started on the forehead and blended well up to the hairline after which the remaining of the face is covered together with the ears, eyelids, and neck as if this is the actors’ true complexion.   The neck application should also be blended well so as not to create a mask-like appearance.   When it comes to male actors, foundation is applied on the entire neck and back sometimes but this can appear messy.   Following the general foundation, a lighter color is placed over the shadows under the nose and on the chin. When the foundation is done, the blush would follow.   A rosy color is used for the female actresses but this should be applied on a lesser degree with male actors.   It is spread over the cheekbone and about halfway down the cheek mixing it with a down and up motion.   A naturally rosy tone is needed for male actors while it should be darker for the females enough to maintain its visibility on stage especially under the hot lights.   Blush must also be placed over the nose and forehead where it is very slightly blended. The most difficult part would be the eye makeup.   A very white â€Å"highlighter† is first placed along the brow bone (right underneath the eyebrow) and under the eye.   The makeup artist should make sure to give the surrounding eye areas a lightened appearance without leaving white smears.   Following this, an eye makeup should be placed just above the eyelid, below the brow bone, and also beneath the eye which should be a little darker than skin tone.   This should be topped with an even darker color along the eyelid top through a downward blending which can also be used as an eyeliner especially with male actors. For women, an even darker and rosier tone that gives the appearance of a natural eye shadow should be placed over.   It should however be more recognizable on stage and should be placed a little above the eyebrow.   A less rosy color is recommended for male actors though not required.   Furthermore, a dark brown or similar-colored eye lining is placed.   Black color is to be used for dramatic roles that need wild makeup. Lastly, mascara is placed on top of the lashes.   In order to avoid or lessen the errors of putting mascaras, it is suggested to make the actor blink after putting the wand on his/her lashes. Following the eye makeup is the simpler part of putting on the lipstick.   A color that is a little darker than the usual lip color is used for male actors and should be matched with a lip liner.   Either can go first depending on the actor’s or makeup artist’s preference.   The liner should be placed on the outside of the lips and not on the natural line otherwise this will obviously look fake.   It can also be applied all over the lips to make it last better and longer.   A dark lipstick should be applied enough to be seen from the stage even if it looks like a Halloween makeup up close.   It goes otherwise with male actors who should slightly be more natural even on stage. Last but not the least would be the loose powder.   Before it is applied over the face, dip a large brush unto a powder container then shake it to get most of the powder off in order to avoid leaving white smears over the makeup and therefore ruining it.   Loose powder is for holding the actor’s make up even when they are sweating. Costumes Costumes are very important.   They help audiences identify and understand the actor’s character and social rank as well as his traits and gender.   The style and color would greatly suggest the occasion happening on stage.   Colorful clothes and elaborate makeup may bring more life to Snow in Midsummer as this pertains to rich Chinese culture. The main character, Dou E, may use the traditional Ruqun which is used by ordinary women during the Yuan Dynasty.   This is made up of an upper jacket and lower skirt.   The jacket is made of a red marten or sheepskin garment with loose sleeves and gray collars and cuffs.   This is tucked below a maroon skirt with a gray sash accent to maintain its simplicity. The same type of robe costume may be used by the widow, Mistress Cai as they do not necessarily belong with the Mongolian Aristocrats who wore cur coats and fur caps.   Their costumes must reflect their lifestyle and their role enough to bring out the emotion from the audience, however they should not look like paupers but more like average Chinese people however obviously struggling to maintain their dignity.   However, after her execution, Dou E’s costume must change to loose, ghostly white robe with its light fabric.   The red smear of blood from the execution must appear on the cloth as well. The male actors may use the Yiseyi or Zhisunfu garments where upper and lower short garments were put together while adding folds to the waistline.   Furthermore, big beads were hung on shoulders and the back.   The garments can either be course or of fine quality depending on the social rank the actor is representing (â€Å"Costume in the Yuan Dynasty†).   Donkey Chang and Old Chang may use costumes may use colors that shows a status that is more advantages compared to Dou E and Mistress Cai, however not as luxurious as an upper aristocrat.   Donkey Chang’s costume must be provoking and reflective of his selfish being. Of course the apparent hairdo must not be forgotten.   For male actors, it should be the traditional snail-head, seated Buddha feature.   As for females actors (Dou E and Mistress Cai), the hair must be long with the upper portion tied and placed with some simple white floral accents.   Mrs. Cai’s hair must be all brushed up however with a bulky onion bulb appearance. Lighting This is perhaps the counterpart of camera trick.   One of the things that make stage plays breath-taking is the lighting effect.   In fact thanks to modern-day stage lighting, audiences now are able to afford richer visibility of the entire play, thus connecting more with the intense emotions of the actors. A careful outline of Bill William’s Stage Lighting Design shows four important objectives of stage lighting: (1) Visibility, which helps the audience understand the play.   It is influenced by contrast, size, color and movement. (2) Naturalism (and Motivation), where a sense of time and place is indicated. (3) Composition, the overall image of the stage.   Lighting must reveal actors, objects and scenery depending on their importance. (4) Mood (and Atmosphere), which is the psychological reaction of the audience is influenced by lighting effects that gives the stage a sense of happiness, sadness or even boredom. Dou E’s execution would be a perfect example where lighting is â€Å"highlighted† as this scene indicates a transition from a normal way of life to a cursed one.   In this case, the lighting effects must create a great sense of grief , heaviness, and fear among the audience. Casting   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   A play cannot be a play without the cast.   As the front liners of the production, they are mainly responsible for leaving an impression for the play since they are the ones who have direct contact with the audiences.   Casts are like the main course of a meal.   Prof. Audrey Stanley from the University of California at Santa Cruz presents at least eight points to consider when casting a play: (1) Interpretation of character type and function; (2) Type-casting; (3) Casting against type; (4) Cross-gender casting; (5) Gender- or race-neutral casting. (6) Generational relationships and differences between characters (for instance, how old are Lears daughters?); (7) Physical and vocal requirements of different roles; (8) Audience associations and expectations of individual actors.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Dou E’s character must be portrayed by someone who can show her virtuosity but at the same time must have the ability to transform into a vengeful character.   Her father, Dou Tianzhang, must be played as someone who is old of course but has enough strength to do some laborious works.   Mistress Cai must reflect the same humility as Dou E’s character but of course with a motherly touch.   A trace of burden must be shown on her face from life’s realities as well as how youth has been taken from her.   Donkey Chang need not be good-looking however appropriately dressed.   But his dignified appearance must not conceal his disgusting character. Rehearsals Based on Simon Dunmores Advice on How to Approach Rehearsals for a Play, rehearsing is composed of thought, discussion, and doing.   It is an important part of the play where the whole team gets to figure out what will work or not.   That is why it is important to discipline oneself especially when it comes to the script.   Even before the rehearsals, the actor must read it several times so he/she will get to be familiar with the character that he is playing.   He should carry it one hand somewhere at his side and put emotion to the delivery of the line while looking at the script at a side glance.   He must be patient and must take his time in memorizing his line.   In case of long speeches, they should be delivered with much care and thought as single or short lines for it is usually a case where a certain idea starts and is connected throughout the story of the play. Stage directions on the other hand, must be read as possible pointers only.   If they came from how the play was originally done, take into consideration that the present production might be different with the casts and circumstances being new.   Pause and silence is a kind of stage direction that must also be given proper timing and must have appropriate place in the play just like long and short lines.   Also in case of abbreviations, the intention of the playwright must be observed so the essence of the communication will not be lost. Writing down notes either from the director or from oneself will be helpful in remembering how to delivery one’s line properly.   Notes need not be long.   Directors may not be right all the time with regards to the character role.   His long experience in theater acting may not give him enough knowledge or understanding of a certain character the way an actor does.   Therefore, a careful and rational discussion must always be made between the two.   Set and costume designs are also very important.   They affect the way an actor moves about the stage.   These objects must work harmoniously with the people of the play and not become a hinder.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Rehearsals do not stop within the rehearsal room.   Proper focus can be achieved with proper practicing though it should not necessarily occupy one’s private time. Rehearsal for Snow in Midsummer Below is a sample table for the Snow in Midsummer’s rehearsal schedule.   It is usually done with six to eight weeks but the production team may change it depending on their needs (Sample Rehearsal Schedule). Sunday Monday Tuesday Wednesday Thursday Friday Saturday Auditions Auditions Call-Backs Post Castlist First Read-Thru Off Construction Crew Meets Block scenes with leads Block scenes with Full Cast Block scenes with leads Begin Set Construction Block scenes with Full Cast Off Work on Set Construction Work scenes with Full Cast Work scenes with leads Work scenes with leads Work on Set Construction Work scenes with Full Cast Work on Set Construction Hang Lights and Set Construction Work through Act I off book Work through Act II off book Work on trouble spots leads only Finish Hang and Rough Focus Act I Run-thru Work on Set Construction Full Cast Paint and Work Day Act II Run-thru Act I Run-thru Act II Run-thru Work on Set Construction First Full Run-thru Complete Set Construction Final Setup Tech and Lights First Tech Rehearsal with Cast Run-thru Full Tech Run-thru Full Tech Costume check Tech Crew Trouble Shooting Run-thru Full Tech Finishing Touches On Set Work on problem areas Full Dress Rehearsal Full Dress Rehearsal Full Dress Rehearsal Full Dress Rehearsal No Makeup Performance Performance Performance The Vision’s Effects on the Audience   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Snow in Midsummer is a play about tragedy and drama.   However, the whole production team must keep in mind that as the story is based on real struggles of poor people in the past, it might leave a great sense of grievance to the audience.   This is good but only to the extent that it will stimulate their sense of awareness since basically, though the storyline dates back to old times, it is very symbolic of the abuse and tyranny that still exist even in our time.   Therefore, there must be a balance by creating a great sense of hope especially during the scenes where a retrial for Dou E’s case was conducted up to the play’s ending.   The play must establish to the audience that life goes on and there is hope and justice even in the hardest of situations. Steve Campsall wrote in Write a Successful Play that plays must create a lasting appeal to the audience.   Every words delivered by a stage performer should send out both meaning and feeling.   That is why it is important to understand the writer’s intention behind the text he has created.    Common methods such as vivid metaphor, powerful imagery, alliteration, use of rhyme or rhythm, etc, are said to be used often by writers (Write a Successful Play: Effects on the Audience).   Behind the scene interactions will help bring one’s natural acting and transcend the same energy and passion.   The audience must be convinced with everything, from the stage settings to the acting.   Not doing so will be crucial and may create passiveness. Conclusion   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Behind a play’s success could be in anything that is a part of it.   From the director’s vision to the actor’s execution, everyone should make sure that everything works harmoniously so that the flow of the play will be well polished on the grand day itself.   It is both inspiring and fun to see actors on stage behaving like they are not actors but rather they own the stage and they are the characters that they are playing.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Lastly, behind the inspiring acts, elaborate costumes, and colorful props, the message of the story must be retained.  Ã‚   This is one important part that can be shared with the audience.   The lesson that they can learn from watching a play can help them personally.   Once the audience is touched by a play’s story or vision, he/she can use the message or apply it once he goes back to real life. Work Cited â€Å"Stage.† Wikipedia: The Free Encyclopedia.   5 February 2008.   9 February 2008. http://en.wikipedia.org/wiki/Stage_(theatre) Kostof, S. 1995.   A History of Architecture.   The Oxford Press.   8 February 2008.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   http://en.wikipedia.org/wiki/Courtyard Jianyi, H. 2003.   Yuan Dynasty Zaju.  Ã‚   8 February 2008.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   http://www.chinavoc.com/magicn/yzaj.asp â€Å"How to Format a Stage Play.† Script Frenzy Young Writers Program.   2007.   9 February 2008. http://ywp.scriptfrenzy.org/howtoformatastageplay Hillard, K. 2002.   Application of Stage Make Up.   9 February 2008. http://www.essortment.com/applicationstag_rgyu.htm â€Å"Costume in the Yuan Dynasty.† ChinaCulture.org.   10 February 2008.   10 February 2008. http://www.chinaculture.org/gb/en_chinaway/2003-09/24/content_28414.htm Williams, B. 1997-1999.   Stage Lighting Design.   Objectives of stage lighting.   11 February 2008 http://www.mts.net/~william5/sld/sld-100.htm Stanley, A. 1995-1996.   Shakespeare Examined through Performance. 11 February 2008 http://www.tamut.edu/english/folgerhp/Recipes/7cstply.html Dunmore, S. 25 August 1999.   Simon Dunmores Advice on How to Approach Rehearsals for a Play.   11 February 2008 http://www.btinternet.com/~simon.dunmore/rehearse.htm Campsall, S.   2008.   Write a Successful Play: Effects on the Audience.   12 February 2008 http://www.englishbiz.co.uk/mainguides/play.htm Sample Rehearsal Schedule.   Tupelo Community Theatre.   13 February 2008. http://www.tctwebstage.com/schedule.htm

Factors Affecting Multinational Corporations Cost Of Capital Finance Essay

Factors Affecting Multinational Corporations Cost Of Capital Finance Essay This essay will consider the key factors which affect a companys cost of capital. The essay will analyse firstly the key components which contribute towards a companys cost of capital before going to consider how these factors differ for a multinational company as opposed to those operating within a single national market. In the first instance, the essay will consider the issue of the cost of capital with specific reference to multinational organisations, as such the research will use the definition of a multinational organisation as provided by Johnson et al (2008). Here the definition given is a multinational company is simply one which operates in several diversified geographic markets which spans the borders of more than national boundary. Every business is subject to the cost of capital, the cost of capital in essence represents the cost to a business of making use of the resources for which investors in various forms put into the business in the first place. The cost of capital is incurred through a variety of methods and includes interest payments and dividends, which an investor receives as a reward for investment within a business. For pragmatic purposes the cost of capital is usual expressed as a percentage, the most common expression being that of the Weighted Average Cost of Capital (WACC). WACC is a useful way of analysing a companys cost of capital. Essentially WACC considers the relative costs of each of the component elements of the companys capital structure and then takes an average of those costs, based upon the relative weights of each component (Tennent 2008). Whilst companys may have many sources of finance, each of which have there own costs and nuances the cost of capital may be broken down into two major sources, namely debt and equity. Debt In a companys capital structure debt is usually one of the major components and consists of long term borrowings such as bank loans and other financial instruments such as bonds and debentures (Arnold 2007). The principal cost of capital with regards to the debt component of the capital structure is the payment of interest upon the capital borrowed in the first instance. In the case of a bond, interest rates are fixed at the issue of point of the bond with the company receiving a lump sum investment on issue in return for regular repayments of a fixed interest rate. On the other hand long term borrowing may have slightly more flexible approach to the cost of capital. The principal cost of long term borrowing is still an interest rate however, the borrower may opt to negotiate a fixed or floating rate of interest. Where a fixed rate of interest is agreed, then the cost of capital is also fixed for the duration and will operate like that of a bond or debenture. However, where the inter est rate is a floating one, then the parties will negotiate an initial rate but this will then be amended to reflect changes in the underlying interest rates issued by central banks. The question in relation to a multinational companies cost of capital which relates to debt is what interest rate will be paid. The answer would be a combination of the concepts of risk and central bank interest rates. A companys capital structure in itself also has an impact upon the companys cost of capital. In general terms, whilst debt funding is seen as a lower cost source of capital than that of equity (Bringham and Ehrhardt 2005) the cost of debt however, in its self is not fixed. Bringham and Ehrhardt (2005) indicate that as a company takes on a greater level of debt within its capital structure, future borrowings become more expensive. This is due to the fact that investors consider that as a company increases its levels of leverage, the company becomes a more risky investment and thus a higher rate of interest is required to secure future funding. In essence, one may consider that the cost of capital for a company will increase, where the company chooses to increase its leverage by obtaining that capital through debt. Equity Equity represents the component of the capital structure of a company which relates to those who have a direct ownership of a company, in other words stocks and shares and their derivatives (Arnold 2004). Shareholders are rewarded through firstly the payment of dividends which represents a direct cost to a business. Secondly shareholders will also expect to see capital gains in the share price representing a further non-financial cost of the cost of capital. As with the debt element of the capital structure, the cost of equity varies from company to company and from industry to industry. Bringham and Ehrhardt (2005) indicate that the relevant factors which will affect the cost of equity are risk, the risk free rate of interest and the return obtainable from alternative investment with a similar risk profile. In general terms, the cost of financing a business via equity is considered to be a more expensive option than financing a business through debt. This is due to the fact that in effect equity represents a permanent source of capital, once issued shares remain in circulation in perpetuity unless a special action is taken to buy back the shares. On the other hand all forms of long term debt have a redemption date, even if that date is at a point far into the future. Risk As has been identified one of the central contributing factors towards consider what affects a companys cost of capital is the concept of risk. At the general level risk is simply defined as concept of uncertainty (Business Link 2009), more specifically risk is usually associated with the concept of uncertainly manifesting itself in a negative format. The basic relationship between risk and reward for investors and companys alike is the consideration that in order to justify the taking of a higher level of risk, there must be the prospect of an increased level of reward. This may be seen as manifested on both the debt and equity side of the cost of capital of a companys capital structure. On the debt side of the capital structure, those companys that have high level of risk will be charged a higher rate of interest by banks or have to offer a higher rate of interest on bonds in order to obtain funding. As such, this pushes up the companys overall cost of capital. Bonds for instance are often given a credit rating, these range from government bonds which are often used as the risk free rate and those attract low interest rates through to low quality corporate bonds often referred to as junk bonds (Brealey et al 2006) and attract a much higher coupon rate for the risk taken. Risk is similarly incorporated into the cost of capital on the equity portion of a companys capital structure. Where a shareholder invests in what they perceive to be a riskier share then in return the shareholder will expect a greater level of return in the form of higher dividends and greater capital growth. The concept of risk is often incorporated in the cost of equity by considering what analysts refer to as a risk beta. Betas are in effect an expression of the perceived risk of a sector or specific company, 1 represents a risk which is no greater or lower than that of the average whilst a positive figure represents a company with a greater risk and a negative figure as one with a lower risk. As such those industries and companies which are associated with long term profitability and stability will have a low beta and thus a lower cost of capital. Whilst those operating in a riskier sector, or with a shorter record of performance will have a higher beta and thus a higher cost of capital. This can be demonstrated by comparing the relative betas of Coca-Cola, a long established and profitable company with a beta of just 0.6 (Reuters 2010 a) and Apple Inc a fashionable growth based company which thus has a beta of 1.41 Reuters 2010 b). As such one the essay has thus far identified that risk is probably the most important factor in determining the relative cost of capital for a specific company. The question now for those operating in the international business environment is what constitutes risk and how can risk be managed to affect the cost of capital. One key consideration is that of diversification. Diversification is a strategic decision and can take on numerous forms from product diversification (Jobber 2007) through to market and geographic diversification (De Wit and Meyer 2004). In general terms, investors usually consider that businesses which have a greater level of diversification have a lower level of risk than those who have a smaller level of diversification. The consideration is that diversified firms are protected against a fall in any single market or geographic region. The down side of this of course is that a firm trades of its ability to make a large profit where a single market experiences a surge or growth spurt. Empirical evidence would seem to support this theory, well diversified firms such as Unilever and PG having risk betas of 0.73 and 0.51 respectively (Digital Look 2010, Reuters 2010 d). National ratings may also be seen as a key consideration for risk where multinational corporations are concerned. Whilst on the whole geographic diversification may be seen as a way of reducing risk, this is not always the case. In many cases companies have chosen to invest in emergent markets such as China, Indian and South America. Whilst these may be seen as areas of key growth which generate the possibility of high rates of return. National ratings would also suggest that investments in such countries also pose significant risks and thus raise the cost of capital. For instance those doing business in China face significant risks over issues related to the protection of intellectual property (Panitchpakdi and Clifford 2002), whilst on the other hand other countries suffer from problems relating to political stability or other such areas of conflict. Interest rates Interest rates may be seen as one of the other key elements which affect the cost of capital for those operating in the multination business environment. At its most basic level one may consider that the relative cost of borrowing will reflect that of the base rate of central banks around the world. Thus when interest rates are on the whole low as they are at present in the UK (BoE 2010) the cost of capital will also be lower due to lower interest rates from long term borrowings. On the other hand were interest rates rise, then the cost of capital will also risk as banks and long term lenders beginning to require a higher rate of interest than previously. The multinational corporation does however, have a special consideration when it comes to the issue of interest rates and the companys cost of capital. Whilst a domestic company is wholly subject to interest rate fluctuations within their national market. There is the consideration that on a global scale interest rates are set locally to reflect national and regional interests. As such for the multinational corporation there is the consideration that the company can take advantage of such a divergence of interests by looking borrow or issue instruments in the countries which are exhibiting the lowest rate of interest on the behalf of central banks. For instance at present, many companies may be attracted either to conduct their business within the UK or to take out loans and issue financial instrument in the UK due to the low interest rate at just 0.5% which would have a positive impact upon the cost of capital. Alternative Investments The final consideration which will affect the cost of capital for a multinational company is the consideration of the yield that investors can achieve elsewhere. In general terms investors will choose to invest in an investment which yields the highest return for the given risk profile of the investment. As such a companys cost of capital will also fluctuate dependent on the performance of others within the sector, where the market as a whole has performed well then one would expect that the cost of capital on the equity side of the equation would increase. This is due to the fact that the stated company must be able to offer a similar return to those operating in the sector. Conversely where the performance of the market as a whole or of the sector is poor, then a companys cost of capital will decrease based upon falling expectations of investors in equities. Alternative investments must also be considered in the form of the risk free rate, the risk free rate being the rate one can obtain from investment in a high quality government bond. In general risking risk free rates will see risking costs of capital as investors are able to gain increasing levels of return at a lower risk elsewhere. Having considered the research posed in this paper, one may conclude that there are a wide range of issues which contribute to the overall cost of capital for a company. Despite these considerations, one conclusion is that the single biggest factor which contributes towards the cost of capital is the consideration of the level of risk for which a company is seen as exposing its investors capital too. As such the management of the cost of capital may in effect be seen as an exercises in the discipline of risk management first and foremost. In considering the cost of capital, one may also conclude that the multinational organisation has the ability to benefit from a lower level of the cost of capital through greater diversification and other risk reducing factors, which allow a company to reduce its risks.

Unite Habitation Marseilles By Le Corbusier

Unite Habitation Marseilles By Le Corbusier Unità © DHabitation Marseilles by Le Corbusier was actually the starting point of all basic theories regarding town planning and dwellings that we have today. The giant, twelve-storey apartment block can fit 1 600 people is cast to solve a severe post Second World War housing shortage. It is specially build up to human scale and also emphasize the beauty of using bare concrete (J.R Curtis, 1996). Le Corbusier compare the bare concrete of the Unità © to human skin, which shows it age and character it flaws.which. The building is situated on a nine acre site on the outskirts of Marseille, has an east-west orientation. It is 450 feet long, 80 feet wide and 185 high (Birkhauser, 1995). The apartments, all built on two levels, are conceived as individual bottlerack. The northern faà §ade is empty, while the other facades are filled by the glass walls and sunbreak loggias of the living area (Choay F, 1960). The design of this Unità © is according to solar shading, ventilation, and also passive heating due to the position of the faà §ade. Unità © DHabitation Marseilles consists of 377 different apartments. It includes 23 discrete types of apartments ranging for single occupants as well for big families (Choay F,1960). Basically, the structure of this building is simple; a rectilinear building which has different precast individual units slotted into it. Le Corbusier intends to make it that way, so it looks like bottles into a wine rack; because that is how he derives the idea of this Unità © DHabitation. 15 measures of the Modulor are also used to dimension the Unità © (Birkhauser, 1995). Right after the Second World War, as what had been expected from the static surrounding of the France government, Le Corbusiers promotion of his urban dwelling proposals were quite complex to be realized due to some of the political issues that is happening by that time. (Choay F, 1960). However, Le Corbusiers resolution to this historical conflict of individuals and collective was the Unità © DHabitation. This so called vertical garden city of the Unità © DHabitation assured that this Unità © can bring phenomenal changes to the whole situation of the post-war. Le Corbusier classified this unit as the extended dwelling, due to the services and facilities provided to the individual home through collective (Choay F, 1960). To intensify the idea of Unità © DHabitation as a collective housing prototype, he eventually filled it with with various professional offices, shops and services. These apartments are made distinctive to each other by having twos and overlap head to foot along the inside corridors named interior streets. These streets were placed on every two floors giving passage to apartments that is paired at the level of the living room (in the lower apartments). Le Corbusier also deliberated all the corridors as instruments of the collective. He even made these interior streets in his urban theory as the sixth in a hierarchy of seven ways of urban circulation (Choay F, 1960). Besides that, level 7 and 8 of the Unità © was bringing together commercial stores such as food, apparel, pharmacy and even hairdresser. On the other hand which is the 18th level, the terrace roof was accommodating with a number of facilities for collective use: day nursery, kindergarten, gymnasium for adults, open-air theater and even a 300 meter race track (J.R Curtis, 1996). THE ARCHITECT, LE CORBUSIER Biography and Influences Le Corbusiers real name is Charles-Edouard Jeanneret. He was born on 6 October 1887 in La Chaux-de-Fonds Switzerlands. He was the second son of Georges-Edouard Jeanneret, a dial-painter in watch industry and and Madame Marie-Charlotte-Amelie Jeanneret-Perret, a musician and piano teacher (Deborah G, 2006). His familys Calvanism, very enthusiastic for the Jura Mountains, love the arts and Charles LEplattenier, a teacher at a local art school were all formative influences on the young Le Corbusier. In particular, LEplattenier played important roles in his artistic development were also very active in searching for a new kind of aesthetics, that could represent the Jura Landscape and could be used by local craft industry. Le Corbusier became an apprentice to a watch engraver; however he had to give it up later on due to his poor eyesight. He began to study decorative art with an aim to become a painter but he also studied architecture on the advice of LEplattenier whom he called My Mast er (Deborah G, 2006). Le Corbusier travelled to many countries as a way to improve himself. After completing his first house, Villa Pallet, in 1907, in 1908 to 1912, he had travelled to Vienna, Paris, Munich, Italy, Eastern Europe and also Acropolis. Due to travelling, he became more familiar with the latest architectural movements such as the structural rationalism of Auguste Perret, a pioneer of reinforced concrete construction, and the Werkbund perspective of Peter Behrens which were total different from the LEplatteniers theories (Deborah G, 2006). He went back to La Chaux-de-Fonds in 1912 and started to teach along with LEplattenier and started his own independent architectural studio. Before the First World War, Le Corbusier spent few months in Germany where he is still frequented Behrens studio and by that time he is acquainted with the Werkbund. However, the war intteruptes his career and he spent for years as a teacher at his old school in La-Chaux-de-Fonds (Deborah G, 2006). During the war, Le Corbusier conducted a research on the Modulor, a rule of proportion that is based on quadrature and Golden Section to measure the human body. Later in Unite DHabitation, he applied the Modulor system and extended it to both large and small dimensions. This was a great tradition as a continuation to the Renaissance anthropometries, to Vitruvius and even Pythagoras (Deborah G, 2006). Immediately after the war, Le Corbusier returned to Paris. He met Amà ©dà ©e Ozenfant, a Cubist painter and both of them together publish their manifesto, Aprà ¨s le cubisme and established a new artistic movement, Purism, which is called for the restoration of the integrity of the object in art in 1918 (Choay F, 1960). They also published a journal named LEspirit Nouveau. Le Corbusier piled up essays from the journal in a book Vers Une Architecture. In the essays, he came up with a proposal that architecture by that time should satisfy both the demands from the industry and the perpetual architectural form as defined in antiquity (Deborah G, 2006). Influenced by problems that he saw in industrial cities at the turning of the century which is between the 19th and 20th century, Le Corbusier eventually become the pioneer of the modernist movement. He planned and thought of a way to create a better society and living conditions by creating a new housing concept since industrial housing techniques led to overcrowding, dirty and lack of moral landscape. By that time, he was also heavily influenced by Ebenezer Howards Garden Cities of Tomorrow (Birkhauser, 1995). In 1922, Le Corbusier and his cousin, Pierre Jeanneret formed an architect partnership. They placed their office in the corridor of a former Jesuit Monastery at 35, Rue de Sevres. It eventually remained forever as Le Corbusiers office for the rest of his life. Le Corbusier died while swimming in the Mediterranean due to heart attack (Choay F, 1960). LE CORBUSIER Le Corbusiers Philosophy Impact Modulor System Le Corbusier was famous for his use of mathematics in his architecture. By that, he eventually develops a system called Modulor System which is a rule of proportion that pertains the geometric proportion of Quadrature and Golden Section the measure of human body (Deborah G, 2006). It is very interesting to see how he sees the Golden Section (the use of geometry of phi), Ancient Egyptians pyramid and Greeks Phytogoras as an inspiration for him to developed this modulor system. It is quite obvious that Le Corbusier was admiring Classicism. This can be seen as he was referring to Vitruvius, Leonardo and Alberti by the time he develops this Modulor System based on the human bodys proportions. And actually that was how the modulor system came up in his own unique modernization of those classical ideas; proportion, harmony and balance (Judi Loach, 1998) The Golden Section and quadrature were parts of the classical methods that had been before until the Renaissance. However, Le Corbusier wanted to do something with it and thus he developed an ideal proportion that would help the designer in integrating human scale in mind while designing. He eventually make the Modulor system to become an international methodology that could be a guideline in the design process. In addition to that, he also translated it to inches so that everyone including the non-metric countries could use the system (Judi Loach, 1998). According to him, the idea for this Modulor system was from a vision of hypothetical man inscribed with three overlapping but contiguous squares. However, there was also a few problems with that earlier Modulor system. Figure 2 The images shows the Red and Blue series of Modulor (Judi Loach, 1998) Nevertheless, after a few experimentation, Le Corbusier came up to a settlement on a six foot tall (1.828m) English, male, body with an upraised arm (Judi Loach, 1998). The man was placed in a box that was subdivided correspond to the Golden Section. It was then further divided using a variation of the Fibonacci series, with two scales that ended up establishing a double-helix, which Le Corbusier mentioned them as the Red and the Blue series. Basically, this Unite DHabitation was the first experimental site for the application of modulor (Deborah G, 2006). Every element in the building can be illustrated by usng the fifteen Modulor units. Those fifteen Modulor units are described in the steel of measure, the first stone and the human figures inscribed in the building. A polychromy so dazzling that the mind was forcibly detached from the dissonances, carried away in the irresistible torrent of major color sensations (Deborah G, 2006). However, the brise-soleils framed was misproportioned by mistake. To deal with that, Le Corbusier paint the bare exterior with polychromy colours, which consist of different fascinating colours to attract the users mind rather than realizing the misproportioned of the brise-soleils framed. He also acknowledged that the human error was one of the way to get an inspiration. (Judi Loach, 1998). It is very interesting to see how Le Corbusier used mathematics to solve his design on each space. His use of mathematics through Modulor system while designing the Unità © DHabitation Marseilles seems to be contrasting to him as an artist. In addition, it also shows that he really use human proportion while designing which shows a good thing which every architect should really done that, considering human proportions. It is very clear how he used the figure of the man to eventually show the proportion of the space that he is creating. That is very interesting because even though a person has never been to that place, he/she can still imagine the space at the building through this image. Five Points of Architecture So we designed a structural system, a frame, completely independent of the functions of the plan of the house: this frame simply supports the flooring and the staircaseà ¢Ã¢â€š ¬Ã‚ ¦ Le Corbusier, 1914. Le Corbusier developed his Five Points of Architecture based on his Dom-ino housing scheme that he was working on during 1914. Thus, he came to a solution where he labeled the scheme as a quick and inexpensive way of reconstructing the city. In the end, he came out with above statement to solve the housing shortage by that time (Judi Loach, 1998). It was also the pioneering moment when the use of reinforced concrete starts to get around. From his attempt to bring up the standardized house, he eventually made up his Five Points of Architecture. Le Corbusier put on his own theory of this Five Points of Architecture in his book titled Towards A New Architecture, that later on become a guideline for his own building design and it become a trend for other architects too. His five points or architecture consists of the pilotis, roof gardens, free plan, vertical faà §ade, and long horizontal windows. For the first point, the columns are lift up from the ground to allow lights to penetrate through it. It also saves the ground space for parking and garden. It obviously creates a circulation space under the building.The second point is the roof garden, where the roof space is being benefited to something else. In Unite DHabitation Marseilles, the roof terrace on the top is said to be replacing the lost land under the building that was supposedly meant for recreation. The third one is the free plan. This free plan means it is free from any column support. Instead, it was supported by skeleton structure and thus helping it to be free from any interior partitions. However, since the partition walls among the apartments are load-bearing, it makes the facades to become free and thus enabling sound-proofing in between those apartments. It can be said as part o f the building success to combine both privacy and communal living. However, the free plan has become the free volume instead since the two-story apartments were integrated to each other and the entrance corridor and elevator were only needed at the third level. (Simon Glynn, 2001). The fourth point is the vertical faà §ade that supports the building. The free facades is said to be so due to the exterior walls that are not using the load bearing walls anymore, thus creating a free structural sense due to the skeleton structure. And for the fifth point is the long horizontal windows, which are the ribbon windows that can eventually helps in better ventilation and lighting (Simon Glynn, 2001). To sum up, using this Five Points of Architecture, Le Corbusier was actually creating a new possibilities for interior and exterior connection and the interior connection itself. (J.R Curtis, 1996). Purism to Brutalism Le Corbusier has built many villas and small apartment and even office building during his early years. However, Le Corbusier recognized his own style pure prisms. It was basically consists of rectangular concrete blocks, glass and steel, building lift up from the ground and even roof gardens. It also used very pure colour, as the principle that they were using by that time is that colour was associated with purity, simplicity and health (Birkhauser, 1995). Purism combined both Le Corbusier and Amà ©dà ©e Ozenfan (Choay F, 1960). They declared their own manifesto titled Aprà ¨s le Cubisme highlighting that a design approach should have give more attention to the main and simple one, which is the more important form of the objects. They did not agree and criticized the heir of Cubism which has been bringing up an art that is totally decorative and ornamental because they made up a point that fantasy and individuality would never be in modern art (Choay F, 1960). Le Corbusier shifted from purism towards another movement after the World War 11. He pioneered a movement so called Brutalism in the 1960s and 1970s (Frampton, 1992). Brutal, as dull as it is was showing the truth of the materials. However, Le Corbusier believes that it was more truthful to Modernisms basic principle (Birkhauser, 1995). For Unite DHabitation Marseilles, Le Corbusier was exploring the use of breton brut (raw concrete) for the buiding itself. A pebbled effect of concrete was brought to the buildings by bush-hammering (Birkhauser, 1995).