A Visit to Sharktooth Hill

Precious Movie Paper - 821 Words

Precious Hollywood has never understood the real meaning of poverty, culture class, deviance, or sexual orientation until a director, Lee Daniels, had read the book â€Å"Push†, by Saphire, which the movie is an exact replicate of the book. When I had first seen the movie, I was very astonished at all the cursing and abuse that they had shown, I was also amazed that the director Lee Daniels, went over the line to show how hard it actually is to be a poor, young 16-year-old, African American female, pregnant, with her father’s second child, living in the poverty stricken of Harlem, New York. Precious does very well to bite her tongue when it comes to her social issues. The relationship she has with her mother is abusive in†¦show more content†¦The final work that I saw was reunion, and I am taking that assumption that she is being reunited with her first born, Mongalulah, which had lived with her grandmother and was only put on the welfare application just so she could receive the bigger welfare checks. When I had seen the word reunion on the game show, I guessed that she would be reunited with her first born and finally be happy with not only her education progressing but also having all of the stress taken off of her shoulders and being reunited with her two kids so she can make a living and be more positive on her two children and also positive on herself asShow MoreRelatedCulture in Urban Schools - Paper on the Movie Precious1468 Words   |  6 PagesFinal Exam Directions: Choose movie from the list below to answer the following questions. Answer the questions within the framework of the Culture in Urban in Schools 3306 class. 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Numerous emotions were at play while watching the movie such as anger, sadness, empathy, as well as hope. Precious was able to tackle all the anguish she had to confront and persevered. She exemplified courage and strength through adversity. Precious had some veryRead MoreDevelopmental Assessment of Childhood1767 Words   |  8 PagesDevelopmental Assessment of Childhood: PRECIOUS The film Precious is an emotional movie that deals with the unfortunate realities of everyday life for some individuals. The film that stares Gabourey Sidibe who plays the main character Clarice â€Å"Precious† Jones is based out of Harlem in the year of 1987. Precious is a sixteen year-old obese and uneducated teenager whom has had to grow up in a severely dysfunctional family environment. Her mother verbally and physically abuses her, oftenRead MoreAnalysis Of The Film Precious 3060 Words   |  13 PagesIntroduction The motion picture ‘Precious’ gives us a powerful experience, mainly because the story line has a thin hopefulness in the dark-clouded life of Precious, Precious is resilient, even though her tragic life influences her personality greatly. In the film, Precious is a sixteen-year old girl who leads a rather lonely life, for she has no friends and is obese. Her father is a negligent and sick father, who rapes her from time to time, and has been doing so before she could even learn toRead MoreCj333 Domestic Violence Essay962 Words   |  4 PagesCJ 333 Unit 3 paper Anthony Cousin 2/16/13 There are many theories out there that try to explain why domestic violence happens. Some like family violence theory say that it is passed down through the family because basically what you see is what you will do. Others say it’s a chemical imbalance or its based on other things. I believe that it is a little bit of all of the theories but the Culture of Violence Theory is playing a huge role today in helping shape our young children’s mindsRead MoreErik Erikson s On Golden Pond 1118 Words   |  5 PagesIn this paper I will be talking about each of the main characters in the movie, â€Å"On Golden Pond† and what they all go through to a crisis of psychosocial development using Erikson’s theory. In the movie each of the main characters, Norman who is eighty years old, Ethel who is seventy years old and Chelsea who is forty years old go through some of the stages of psychosocial development. The first character in the movie I will be talking about is Norman. I recognized him first from the movie becauseRead MoreFilm Critique Paper: and the Band Played on1627 Words   |  7 PagesCritique Paper And the Band Played On The movie is about the first couple years of AIDS, mostly in the United States. It tells the political as well as the scientific struggle that occurred with the discovery of AIDS. The main character Dr. Don Francis heads the research of AIDS with little money and little help. This was because AIDS was considered the â€Å"gay man’s disease† and there was more emphasis on who discovered the disease than actually helping those who had it. Basically, the movie wasRead MoreMaslow s Theory Of The Hierarchy Of Needs925 Words   |  4 Pageslack of prejudice, and acceptance of facts. Self-actualization is the fullest realization of a person’s potential. As you move up in the hierarchy, the needs become more human and less basic. This paper is about the movie, Gran Torino, an American fiction movie that was released in the year 2008. The movie starts off with Mr. Walt Kowalski who just lost his wife and is a Korean War veteran who s also detached from his childrens. He lived in Michigan neighborhood in Detroit where he is surrounded by

My Favorite Music Is R Essay Example For Students

My Favorite Music Is R Essay I like it because of its historic background, instrumental instruments, and important role models that were and are influenced by RB. It is an important part around our universe. RB speaks when you have no words, and it makes you think. Weather performing it, teaching it, or Just enjoying it RB evokes attitudes in people. At first, RB originated in the late sass. RB got its name from record a company, when it initially came out it was predominately to Urban African Americans. The first name change occurred in the sass. During the sass RB made contributes to rock and roll. Caucasian Americans then used the term RB for soul, funk influenced music. Secondly, RB creativeness in its musical instruments and rhythm. The types of instruments they use are drums, pianos, trumpets, saxophones, bass, and etc. The rhythm of the instruments makes the music come alive; it gets snuck in you like your favorite tune. Afterwards, people from Ray Charles to Beyond © are RB artists. My Favorite Music Is R By johnnycakes

Sleep Easy Motel Essay Example

Sleep Easy Motel Paper Tonia Simatos 045-262-078 Case # 6- SleepEasy Motel 1. Problem Statement a. Current State: * SleepEasy motel is losing money. Occupancy of the hotel is around 55 percent of capacity which according to industry figures is 13 percent below the average of 68 percent for similar motels in the area. * Large number of customers driving around the parking lot of motel and leaving. * A lot of competition In the area, other hotels offer better facilities. b. Desired state * Have the occupancy of hotel go up to and stabilize to at least 68 percent capacity to generate more profit. Better facilities to attract more customers and have them choose SleepEasy Motel instead of other competitors. 2. Analysis c. Why did this problem arise? SleepEasy’s facilities are lacking. Facilities are most important to approximately 78% of the visitors in the area when choosing accommodation (no restaurant or pool). Huang is relying on customers coming to the resort by just finding it when they drive towar d the area however, 40 percent of the visitors plan and reserve their rooms more than 60 days in advance. There are no signs advertising the motel. d. What is important from a 5C or SWOT or PEST perspective 3. SWOT- Strengths- located in a rapidly expanding resort area. – Only 22km away from a tourist area. Weaknesses- No recreational facilities. – No advertising or signage to attract customers. Opportunities- Join a franchise to attract more customers. Threats- a lot of current competition of bigger hotel chains. – More motels opening in the area. 4. Alternatives e. Make changes to SleepEasy Motel to accommodate and attract more customers, create a loyalty program and launch advertising initiatives. Pro- Huang will keep the revenue from sales and can manage the hotel’s maintenance and improvements on his own. Con- Since the hotel is not doing well Huang may have to take out a loan to renovate the hotel and he may not be able to afford it. f. Join the Days Inn franchise to target more customers. Pros- no major capital investment. – Recognized national chain, use of central reservation system and website will attract more customers. Offers- InnCentives loyalty club for frequent travelers and corporate rate programs for business travelers. September Days Club for travelers to receive discounts and quarterly travel magazine. -Past promotion sold an additional 10, 000 rooms. Cons- Huang must pay 8 percent of gross room revenues to the franchise. Huang must agree to maintain, repair and improve the facility in accordance to Days Inn’s franchise standards. g. Join the Holiday Inn Franchise to target more customers. Pros- Huang will probably be required to build a pool, can charge $75 per day as opposed to $45. – Recognized national chain, use of central reservation system an d website will attract more customers. – Offers loyalty program, Priority Club Worldwide. – Advertises on TV and in print. Cons- must pay 8 percent of gross room revenues to the franchise. – Huang must contribute a capital investment of between $300,000 to $500,000. Huang must agree to maintain, repair and improve the facility in accordance to Days Inn’s franchise standards. 5. Recommendation h. Considering that 78 percent of the visitors to this area indicated that recreational facilities were important in their choice of accommodation, Huang should join the Holiday Inn franchise. 6. Implementation i. If Huang does not have the money for the capital investment he must take out a loan to renovate the hotel. He must then implement maintenance of the hotel, repairs and improvements in compliance with Holiday Inn. 7. Theory / Jargon / Concepts I USED in analyzing this case. S. W. O. T analysis We will write a custom essay sample on Sleep Easy Motel specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Sleep Easy Motel specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Sleep Easy Motel specifically for you FOR ONLY $16.38 $13.9/page Hire Writer

Gandhi Essay Example

Gandhi Paper Mohandas Gandhi was one of the few men in history to fight simultaneously on moral, religious, political, social, economic, and cultural fronts. His life and thought has had an enormous impact on the Indian nation, and he continues to be honored around the world. In the movie, it started when Gandhi was kicked off afirst-class coach for being Indian. He never heard of such injustice in a country. This eventually began Gandhis career as a peacemaker for all of India and the world. At the beginning, a rude awakening comes with the arrival of the guard, who tosses Gandhi at the very next station. Shocked beyond words by such injustice, Gandhi feels that he has no choice but to protest. Gandhi then begins to form contacts within the Indian worker minority. He later brings together Indians around the area to a public speech. At the speech, he takes about the injustice caused by the British. He eventually burns his identity card along with some others before he is arrested and taken to pr ison. Gandhi is motivated by religious means and believes that everyone is equal in God;s eyes. He gets involved in several movements for equality and stresses non-violence very strongly. The Indians are very mad because British rule continues to limit their rights. A turning point on the Indian fight for independence was the western press. Reporters witnessed a scene in which Indians tried to get into a factory row by row, and were brutally beaten by soldiers, row by row, as the women pulled the dead and injured away. Also, a reporter for Time magazine met Gandhi when he was in jail, took a lot of pictures of him, and made his plight known to the world. Finally, Gandhi travels to Europe to negotiate India;s freedom. Afterwards, India does gain their freedom. However, Gandhi was yet to know that his assassination was to come the next year.

Plastics Lab essays

Plastics Lab essays This is almost the exact lab from your online site. I typed my lab up this way so its more clear and easier to read. h To describe some of the major plastic resins and their uses h To compare and contrast the properties of different plastic resins h To list products that different resins can become through recycling Procedure/Questions(note: tables are attached): 1. Read Table 1. Major Plastic Resins and Their Uses. This resin chart describes six common resins and the variety of uses each has. The uses depend on the properties of each resin listed (e.g., lightweight, flexible, incredibly hard, rigid, durable). The code numbers are used by recycles to identify different resins. 2. Find a sample of as many of the six resins as you can. (There is a "7" which is used kind of like "none of the above". It is not common.) Since this is an extra credit assignment, each resin you use will add to your grade. It is important that the plastic identification code be visible on each object, for ease in identifying the resin from which it is made. 3. Fill in Table 2. Properties of Plastic Resins as you examine your plastic samples. 4. Cut out the recycling symbol on each sample and attach it to Table 2. 5. What is the short name (HDPE, etc) of each sample? 6. Is it clear? Does it have color?(Note- these are based on the examples I found.) h Resin 1- Polyethylene Terephthlate is generally clear. h Resin 2- High Density Polyethylene has more of a white coloring. h Resin 3- Polyvinyl Chloride is clear. h Resin 4- Low Density Polyethylene can be colored (manufactured). h Resin 5- Polypropylene can be cream colored or white. h Resin 6- Polystyrene can be ...

With reference to two out of the seven regions identified here (see Essay

With reference to two out of the seven regions identified here (see below in assign.criteria) ,how useful is it to continue classifying and contextualising media systems in geographical terms - Essay Example â€Å"Geography is a visual discipline...media representations are part of individual and societal conceptions of the world but also because of medias power to conceptualize and spread political ideas and reinforce hegemonic orders.† (Zimmermann, 2007). From the commercial point of view also, geography helps a lot in finding the target customer base for the media houses. Although there is no physical restriction to media content and it can reach any regions, geography induced media content is mainly applicable to specific geographical region. For example, the geographical boundaries of the Middle Eastern as well as the North American region and the commonality in most issues have led the media houses there to classify and contextualize the media content in a particular way. As this practice is happening world over, the aspects which need to be discussed are the advantages or disadvantages of continuing to compare the worlds media systems on the basis of geographical location. For that, the paper will bring out the differences between the historical forces which have shaped the media in Middle Eastern as well as in the North American regions. Finally by case studying the prominent media houses of the respective regions, CNN and Al Jazeera, the paper will discuss how it is disadvantage to classify and contextualise worlds media systems on the basis of geographical location. Middle East region of Asia has been one of the most active regions ever since the discovery of oil resources, and the resultant entry of foreign countries and firms. With the entry of outsiders, all forms of technology developed including the communication and media technology, which developed along with optimum media exposure. Both these two aspects particularly media exposure also lead to the development of indigenous media. Although few forms of media had already been established, the proliferation

Neurology Clerkship eBook - Introduction Thesis Example | Topics and Well Written Essays - 750 words

Neurology Clerkship eBook - Introduction - Thesis Example 2. The â€Å"best† instruction for the eBook should be efficient in a way that it demands less time from the learners to allow for achievement of the goals; effective in a way that it facilitates acquisition of identified skill and knowledge by a learner; and appealing in such a way that it interests and motivates the learner, thus promoting participation in the learning task(McGrane & Lofthouse, 2012). 4. The evaluation of the instructional eBook should include evaluation of its instructional effectiveness among the Neurology clerkships and evaluation of the performance of the learners.(McGrane & Lofthouse, 2012) Information concerning evaluation of the instruction is enough for guiding revision of the instruction with the view to making it appealing, efficient, and effective. The process of determining instructional materials’ effectiveness through randomized large-scale experiments is uncommon due to its high expenses and increased time requirements. Various smaller studies have been carried out in the view of examining how effective it is to introduce new packages of instructional approaches in comparison to the existing ill-defined instructional approaches. Most of these studies offer useful information concerning exploitation of alternative instructional methods such as the development of an instructional e-Book for Neurology Clerkship among Medicine students.However, there are various limitations. One of the limitations of this study is the failure of evaluating most of the instructional approaches, especially among studies that offer useful information to practitioners and policymakers (Andrews, 2013). This is a problem that worsens with the exploitation of web-based open-source instructional materials such as the instructional eBooks. Another important issue is the constant nature of the studies even as they remain outdated and unable to suit the constantly updated instructional approaches. As such,

Report Essay Example | Topics and Well Written Essays - 2000 words - 8

Report - Essay Example This paper aims at discussing how the city of Barcelona has attempted to use events to pursue wider objectives in tourism. Rationale The tourism strategy in Barcelona aims at developing a tourism model that will ensure that a balance is maintained between the local residents and tourist. It also aims at maintaining the identity values of this particular city. One of the values that the strategy fights to keep is the rich culture. It also maintains the values that make it attracting all sorts of tourist ranging from those who are interested in sport events, cultural festivals, religious events, and many others. Background The city of Barcelona has on many occasions had a boost to its tourism industry as a result of international events. These events include the visit by Benedict the XVI, the Barcelona marathon, Formula 1 Gran Prix of Barcelona, the Aphrodite – Les Folies Tour, Barcelona 1992 Summer Olympics, Barcelona Open, La Merce Festivity, and the champion league finals. Th ese events attracted thousands of visitors to the city of Barcelona and earned the city a lot of income. Benedict the XVI visit to Barcelona Pope Benedict XVI arrived in Barcelona on the 6th of November 2010. His mission to Barcelona was to preside over the consecration of Barcelona’s Cathedral La Sagrada Familia. During the visit, the Pope held a private meeting with the queen and king of Spain. The visit is believed to have generated a total income of about â‚ ¬ 39 million to the city of Barcelona as a result of the activities that took place during the visit. More than half of this income is believed to have come from the expenditures of the visitors whose main attraction to Barcelona was the Pope’s visit. The income came from business activities such as transport, accommodation, shopping, restaurants, and many others (Smith 2012, p. 201). This event also played a very important role in marketing Barcelona as a tourist destination. The visitors who came specifica lly for the pope’s visit must have noticed the very many tourist attractions in Barcelona. Barcelona Marathon The city of Barcelona hosted the Barcelona Marathon of 2013. The marathon took place on the 17th of March 2013. The competition involved athletes from all over the world. The Barcelona Marathon first took place in the year 1980, and its fame has grown gradually over the years. In the year 2012 16, 743 athletes were registered for the marathon. During this marathon, city always gets lots of visitors who either come to participate in the event or just witness the event. Apart from being a tourist attraction by itself, it also helps allot in creating global awareness of the other tourist attractions in the city of Barcelona. Formula 1 Gran Prix Barcelona 2013 The city of Barcelona hosted the fifth Formula 1 Grand Prix of the season. These events took place in between the 10th and 12th of May 2013. During this event, the city received a lot of visitors from all over the w orld. Most of them were people who came specifically to experience the formula 1 event (Chalip and McGuirty2004, p. 272). This can mean that it generally increased the number of visitors that the city hosted in that year. This would mean that they also had an extra income because of this event. Other businesses such as accommodation and restaurants also benefited from this event. Income was also earned through the sales of tickets. Kylie Minogue in Barcelona Kylie Minogue is an internationally known

Implementation of User-Pairing Algorithm for OFDMA

Implementation of User-Pairing Algorithm for OFDMA Table of Contents (Jump to) Introduction Literature Survey Problem Formulation References CHAPTER 1:  INTRODUCTION Introduction Orthogonal frequency division multiple access (OFDMA) is an encouraging technology that supports high data rate transmission. The blend of OFDMA with the relay technology has expanded a large extend of potential to develop the overall network performance, and therefore has received a lot of intension in the recent years. Network resources that may include bandwidth and transmission power are limited; hence how to efficiently and fairly allocate these resources to users with guaranteed quality of service is a key issue. The models used while dealing with the partnering problem usually involve some form of orthogonality across the user pairs, so that the pairs can cooperate without causing interference to each other. OFDMA, has a lot of essential properties due to which it has gained a lot of acceptance and popularity in the recent years, and because of its orthogonal structure it is considered as a good candidate for realizing practical cooperation. As we already know that huge amount of research is done on sub-channel and power allocation schemes for OFDMA. Yet, encoding techniques, and resource allocation for mutually cooperative OFDMA systems, have not been investigated much until rather recently. For cooperative OFDMA systems containing only two users, achievable rates based on mutual cooperation across sub-channels were characterized in [3], and for such systems, optimal power allocation algorithms are used. Relay-assisted cooperative communication Relay-assisted cooperative communication has turn out to be very effective in several wireless systems [1]. This communication system is capable to enhance the overall system performance that includes spectral efficiency, network lifetime and coverage area. Efficient wireless resource allocation is critical to fully realize these benefits in cooperative communication systems. Resource allocation in orthogonal frequency division multiplexing (OFDM) based relay communication systems involve even more technical challenges. Single-hop OFDM or OFDMA which are traditional systems when compared then we must carefully and accurately coordinate the power and subcarrier allocations across different hops resulting from multiple relays. Compared with single-carrier relay systems, in this we are able to assign multiple orthogonal subcarriers in every single hop, which not only gives more design freedoms but also typically higher design complexity or intricacy. In this paper, we will take a close look on the power control problem, joint relay selection, and subcarrier assignment for a cooperative two-hop multi-relay OFDM system using the protocol called amplify-and-forward. The main aim is to make the most of the transmission rate subject to an individual power constraint of each transmit node. Recently, a number of results have been described on relay selection in two-hop multi-relay systems. A common selection strategy is to choose the relay with the best equivalent end-to-end channel gain. Similar strategy can be used in OFDM systems, where a relay is selected based on the channel condition of the whole OFDM symbol. However, such symbol based relay selection may not be efficient as the differences of channel conditions amongst diverse subcarriers are not completely utilized. The subcarrier-based relay selection, which selects one best relay for each subcarrier, was then proposed to exploit both frequency diversity and node diversity. [2] Two-way relay network In this type of network, two users or operators communicate with each other via one or multiple relays. There are three two-way relaying protocols which differ in the number of required phases. The first protocol is called as the simple four phase protocol consisting two one-way relaying protocols. The second protocol is named as the time-division broadcast (TDBC) protocol which consists of three phases. The third protocol is the multiple-access broadcast (MABC) protocol which consists of two phases. The MABC protocol is more bandwidth efficient compared with the other two protocols. Orthogonal frequency division multiple access (OFDMA) is one of efficient techniques to mitigate the problems of frequency selective fading. In an OFDMA network, a complete obtainable bandwidth is separated into a number of orthogonal subcarriers and multiple users transmit their information simultaneously using the different subcarriers without inter-user interference. Generally, it is assumed that the bandwidth of each subcarrier is much smaller than the coherence bandwidth of the channel, and so the channel of each subcarrier has a flat fading. In addition, the OFDMA network uses the method of adaptive resource allocation and thus delivers improved performance [4]-[5]. In a two-way OFDM relay network having a single user pair and a single relay, the sum capacity for both users over all subcarriers is maximized by power allocation and tone permutation. In resource allocation for a multiuser two-way OFDMA relay network is investigated to support two-way communication between the base station and each of multiple users. In several relay selection policies for a MABC DF two-way relay network are proposed. The subcarrier based relay selection usually assumes that signals received over one subcarrier is amplified (or decoded) and forwarded by a relay over the same subcarrier in the next hop. However this is not optimal in terms of system performance. An improved performance can be attained if subcarriers in the first and second hops are paired according to the conditions of their channel. Such a subcarrier pairing approach was proposed in [1]. AF-based two-hop multi-relay OFDM system An AF-based two-hop multi-relay OFDM system in which we optimally and mutually assign the three types of resources: subcarriers, relay nodes, and power. Such joint optimization hasn’t been well thought of or considered in the literature as far as we know. We formulate it as a joint relay power allocation problem, subcarrier pairing, and selection with an objective of exploiting the transmission rate under specific power constraints. A dual nature can be used for solving the optimization problem in three phases. First, we find the optimal power allocation for any given strategy of subcarrier pairing and relay assignment. In the second phase, we determine the optimal relay assignment when subcarrier pairing is given. And in the last or third phase, we obtain the optimal subcarrier paring by means of the Hungarian method. The overall complexity of the optimal algorithm is polynomial in the number of subcarriers and relay nodes. Based on the intuition derived from the optimal algo rithm, we further propose two suboptimal algorithms that have lower complexity but can achieve close to optimal performances. PRACTICAL SUBOPTIMAL PAIRING ALGORITHMS In our model, the locations of the users, and their distances to each other are the major factors that affect their transmission rates. The impacts of Rayleigh fading and noise variances on the rates are negligible in comparison to path loss. This forces the power allocation and partner selection to be mostly dependent on the topology of the network, which means that a suboptimal but fast algorithm can be derived based only on user locations as an alternative to the maximum weighted matching algorithm. But then, the weights of the graph will not be needed to match the users, and this will decrease the time consumed by the matching algorithm drastically. We will be dealing with 5 algorithms as following:- Select Nearest to Receiver algorithm:- The two users nearest to the receiver get matched. These users are removed from the pool, and the algorithm repeatedly matches the rest of users with the same method until every user is matched. Select Farthest from Receiver algorithm:- The two users farthest from the receiver get matched. These users are removed from the pool, and the algorithm repeatedly matches the rest of users with the same method until every user is matched. Maximum Matching on Nearest Four to Receiver algorithm:- The user nearest to the receiver is selected. Then, three users which are nearest to it are selected. Maximum weighted matching algorithm runs on those users and the users get matched. The algorithm repeatedly matches the rest of users with the same method until every user is matched. Maximum Matching on Farthest Four from Receiver algorithm:- The user farthest from the receiver is selected. Then, three users which are nearest to it are selected. Maximum weighted matching algorithm runs on those users and the users get matched. The algorithm repeatedly matches the rest of users with the same method until every user is matched. Select Nearest and Farthest to Receiver algorithm:- The user farthest to the receiver gets matched with the nearest to the receiver. These users are removed from the pool, and the algorithm repeatedly matches the rest of users with the same method until every user is matched. The performance comparisons of the above algorithms are presented in this section. CHAPTER 2:  LITERATURE SURVEY In 2010, N. Balasubramanian, A. Carroll and G. Heiser et al, proposed that:- A rich body of literature has been dedicated to measuring the power consumption of cellular and WiFi interfaces for mobile users. Although a variety of power consumption models have been proposed and studied, one general conclusion is that, in spite of comparable power consumption (typically around 1 W), WiFi is much more power efficient in sending/receiving the same amount of data because of the higher data rates (e.g., a few Mbps for 3G while ten or more Mbps for 802.11n) [6]–[7]. Assuming that the wireless link is experiencing path loss as well as Rayleigh fading during the process is totally unacceptable. Note that, the data rate of the wireless link varies for different distances as well as channel realizations. In 2005, L. Shao and S. Roy, T. Thanabalasingham, S. Hanly, L. Andrew et al, proposed:- Resource allocation and interference management of multi-cell downlink OFDMA systems were presented. A key focus of these works is on interference management among multiple cells. Our general formulation includes the case where resource coordination leads to no interference among different cells/sectors/sites. In our model, this is achieved by dynamically partitioning the sub channels across the different cells/sectors/sites. In addition to being easier to implement, the interference free operation assumed in our model allows us to optimize over a large class of achievable rate regions for this problem. If the interference strength is of the order of the signal strength, as would be typical in the broadband wireless setting, then this partitioning approach could also be the better option in information theoretic sense [9][7]. In 2004, A. Nosratinia, G. Tsoulos et al proposed that:- A. Nosratinia, G. Tsoulos et al proposed MIMO systems because in recent years, MIMO systems [10] have been widely accepted as the ultimate approach to fulfilling the high performance demands of current and future generation of wireless systems. Using multiple antennas at the transmitter or/and receiver dramatically increases the spectral eà ¯Ã‚ ¬Ã†â€™ciency and enables the system to achieve very high data rates. It is also widely accepted that the majority of multi-antenna spatial diversity techniques are mainly applicable in downlink transmissions due to the size and complexity constraints that limit their implementation in small mobile units [11]. However, to achieve spatial diversity on the uplink without the need to have more than one antenna per mobile unit, cooperative transmission is the answer. In this case, the mobile units help each other to emulate a multiple transmit antenna system. In 2006, Yang and Belfiore proposed that:- Yang and Belfiore present a near optimal AF scheme which in certain conditions is able to achieve the diversity multiplexing trade-off (DMT) upper bound introduced. In [13], cooperative diversity protocols which are based on DF relaying are developed. The relay nodes that can fully decode the received transmission relay to the destination using a space time code. The idea of cooperative diversity under asynchronous channel conditions was suggested. The authors in [12] proposed a simple DF relay technique in a Code Division Multiple Access (CDMA) system where the relay nodes detect and forward the transmission regardless of whether successful decoding has occurred or not. In [13] a 2 hop asynchronous cooperative diversity technique is introduced where the authors propose two different protocols to determine the participating nodes. In this technique, the set of participating relays that receive the packet without errors is the only set of nodes involved in the relaying process. In 2004, Sendonaris et al proposed that:- The second type of uplink cooperation, which will be the main focus of this chapter, is based on pairing each user with a neighboring user, a â€Å"partner†, to create a MIMO-like effect on the uplink transmission. This was first suggested by Sendonaris et al. [14] in a synchronous full-duplex CDMA system utilizing orthogonal spreading codes. The technique was for a two user system where at the first transmission instance both users transmit their symbol to the other user and the base station. The symbol is then received and processed by the other user and in the following transmission instance the users transmit a composite signal consisting of their own symbol and a detected estimate of their partner’s symbol, each spread with its user’s spreading code, to the base station. In 2003, A. J. Jahromi, et. Al proposed that:- In this case at each transmitting instance, each user transmits a composite signal of both his new symbol along with a detected estimate of his partner’s previous symbol. In this method, to maintain the total transmit power constant, the joint transmit-power is manipulated such that at the base station, the average received power and the received power per user remains constant. In [15], the authors propose a new multiuser uplink pairing CDMA technique in which each user transmits its own signal to the base station and follows that by relaying a processed estimate of his partner’s information. At the receiving end, an algorithm is utilized to achieve near optimum ML performance with reduced complexity. CHAPTER 3:  PROBLEM FORMULATION 3. Problem formulation Scheduling and resource allocation are essential components of wireless data systems. Here by scheduling we refer the problem of determining which user will be active in a given time-slot; resource allocation refers to the problem of allocating physical layer resources such as bandwidth and power among these active users. In modern wireless data systems, frequent channel quality feedback is available enabling both the scheduled users and the allocation of physical layer resources to be dynamically adapted based on the users channel conditions and quality of service (QoS) requirements. This has led to a great deal of interest both in practice and in the research community on various channel aware scheduling and resource allocation algorithms. Many of these algorithms can be viewed as gradient-based algorithms, which select the transmission rate vector that maximizes the projection onto the gradient of the systems total utility. REFERENCES [1] A. Nosratinia, T. E. Hunter, and A. Hedayat, â€Å"Cooperative communication in wireless networks,† IEEE Comm. Magazine, vol. 42, no. 10, pp. 74–80, Oct. 2004. [2] A. Bletsas, A. Khisti, D. P. Reed, and A. Lippman, â€Å"A simple cooperative diversity method based on network path selection,† IEEE Journal on Selected Areas in Comm., vol. 24, no. 3, pp. 659–672, March 2006. [3] S. BakÄ ±m and O. Kaya. â€Å"Cooperative Strategies and Achievable Rates for Two User OFDMA Channels.† IEEE Trans. Wireless Commun., 10(12): 4029–4034, Dec. 2011. [4] C. Y. Wong, R. S. Cheng, K. B. Letaief, and R. D. Murch, â€Å"Multiuser OFDM with adaptive subcarrier, bit, and power allocation,† IEEE J. Sel. Areas Commun., vol. 17, no. 10, pp. 1747-1758, Oct. 1999. [5] Z. Shen, J. G. Andrews, and B. L. Evans, â€Å"Adaptive resource allocation in multiuser OFDM systems with proportional rate constraints,† IEEE Trans. Wireless Commun., vol. 4, no. 6, pp. 2726-2737, Nov. 2005. [6] A. Carroll and G. Heiser, â€Å"An analysis of power consumption in a smartphone,† in Proc. USENIX, June 2010. [7] N. Balasubramanian, A. Balasubramanian, and A. Venkataramani, â€Å"Energy consumption in mobile phones: a measurement study and implications for network applications,† in Proc. IMC, Nov. 2010. [8] L. Shao and S. Roy, Downlink multicell MIMO-OFDM: an architecture for next generation wireless networks, IEEE WCNC, vol. 2, pp. 1120 { 1125 Vol. 2, Feb 2005. [9] T. Thanabalasingham, S. Hanly, L. Andrew, and J. Papandriopoulos, Joint allocation of subcarriers and transmit powers in a multiuser OFDM cellular network, IEEE ICC, vol. 1, pp. 269 { 274, Jun 2006. [10] G. Tsoulos, 2006. MIMO System Technology for Wireless Communications. Boca Raton: Taylor Francis Group [11] A. Nosratinia, T. E. Hunter and A. Hedayat, Cooperative communication in wireless networks , IEEE Commun. Magazine, vol. 42, no. 10, pp. 74—80, Oct. 2004 [12] K. Vardhe and D. Reynolds, The Performance of Multi-User Cooperative Diversity in an Asynchronous CDMA Uplink, IEEE Trans. Wireless Commun., vol. 7, no. 5, pp. 1930—1940, May 2008. [13] S. Wei, D. L. Goeckel and M. C. Valenti, Asynchronous Cooperative Diversity, IEEE Trans. Wireless Commun., vol. 5, no. 6, pp. 1930—1940, Jun. 2006. [14] A. Sendonaris, E. Erkip, and B. Aazhang, User cooperation diversity — Part I: System description, IEEE Trans. Commun., vol. 51, pp. 1927 — 1938, Nov. 2003. [15] A. J. Jahromi, et. al., On multi-user detection in CDMA based cooperative networks, IEEE Sarnoff Symposium, 2009, SARNOFF ’09, 30 Mar. 1 Apr. 2009

Essay on 1983 Essay

Different dictionaries provide a number of meanings to the word fool. Firstly, the word fool perhaps implies â€Å"a silly person†, â€Å"a dumb† or even a â€Å"dunderhead†. Apart from these negative connotations to the word fool, the term could also mean, â€Å"a professional in counterfeiting folly to draw entertainment for others, a clown, or a jester†. Besides, a fool could a character in a script of other literal work that is created and manipulated to feature a fool. In Twelfth Night by William Shakespeare, there are several unconventional fools other than the clown Feste. Feste and the cauldron of fools in the play dexterously combine their unusual traits and wits to stimulate other characters into their charade eliciting their own form of foolery. This paper explores the role of the fool in William Shakespeare play, Twelfth Night. To begin with, Feste plays a significant role in the Twelfth Night by William Shakespeare in the Illyrian society. He features a transcendental ringleader capable of trouncing conventional social hierarchies and leading them in his own views and interests, aside from the intense criticism of his environment. Feste’s significance in the play is well embedded in his ability to socialize and interact with the nobles and the common with equal ease. In the play, Feste is an employed clown of Olivia’s late father. Therefore, he is an â€Å"official fool† implying that he is permitted to speak the truth to people surrounding him (Act I. Scene V). This role reflects Feste and truthful fool in this Illyrian society, even though he mirrors a critic of his environment. William Shakespeare also injects humor in the play through the characters and mannerism of Feste. For instance, Feste emerges as a conventional fool when he clad as the curate, Sir Topaz. He goes on to visit the imprisoned Malvolio incarnated as Sir Topaz in the company of like fools, Sir Toby and Maria. Shakespeare exerts a shower of humor and wit in the play through the Feste’s charade. Feste humorously abuses the unawares Malvolio of the disguise calling him a â€Å"Satan† and a â€Å"lunatic† (Act IV. Scene II). In a punning twist and turns of words, the in-disguise Feste cum Sir Topaz wittingly confuses Malvolio bringing out the fool in the latter. Incidentally, Malvolio featured as an intentional ruin to people’s pleasure in the play. Therefore, Feste’s folly dawns an acceptable and just behavior among the audience in light of his condemnable actions. Feste represents a genius with words character in the play. He has a knack for witty repartee and word play. Indeed, this justifies Cesario’s description of Feste as the â€Å"wise fellow to play the fool† (3.1.14). Besides, Feste’s penchant for excellent sizing up situations is dramatic and significant in the play. He points out other character’s folly drawing a couple of bucks and a laugh. For instance, Feste’s shrewd description of â€Å"the greedy and drunk† Sir Toby in an honest and humorous mockery justifies to the Elizabethan audience his legitimacy as a licensed fool. Notwithstanding, this folly acts offers an honest insight to the audience of the concealed and dark secrets and aspects of a character in the play. Source document

Automobile and Large Mass

There was once a little boy of 6 years old called Lewis. One day, as he was looking out of the car window on his way to school, he discovered that a large mass of grey smoke was forming just above his dad’s car. Somewhat alarmed, Lewis looked at the other cars on the road to find out if they too had a cloud of grey smoke chasing them. To Lewis’ surprise,  all the cars travelling on the motorway had the grey smoke hovering around them. There was once a little boy of 6 years old called Lewis. One day, as he was looking out of the car window on his way to school, he discovered that a large mass of grey smoke was forming just above his dad’s car.Somewhat alarmed, Lewis looked at the other cars on the road to find out if they too had a cloud of grey smoke chasing them. To Lewis’ surprise,  all the cars travelling on the motorway had the grey smoke hovering around them. There was once a little boy of 6 years old called Lewis. One day, as he was looking out o f the car window on his way to school, he discovered that a large mass of grey smoke was forming just above his dad’s car. Somewhat alarmed, Lewis looked at the other cars on the road to find out if they too had a cloud of grey smoke chasing them.To Lewis’ surprise,  all the cars travelling on the motorway had the grey smoke hovering around them. There was once a little boy of 6 years old called Lewis. One day, as he was looking out of the car window on his way to school, he discovered that a large mass of grey smoke was forming just above his dad’s car. Somewhat alarmed, Lewis looked at the other cars on the road to find out if they too had a cloud of grey smoke chasing them. To Lewis’ surprise,  all the cars travelling on the motorway had the grey smoke hovering around them. There was once a little boy of 6 years old called Lewis.One day, as he was looking out of the car window on his way to school, he discovered that a large mass of grey smoke was forming just above his dad’s car. Somewhat alarmed, Lewis looked at the other cars on the road to find out if they too had a cloud of grey smoke chasing them. To Lewis’ surprise,  all the cars travelling on the motorway had the grey smoke hovering around them. There was once a little boy of 6 years old called Lewis. One day, as he was looking out of the car window on his way to school, he discovered that a large mass of grey smoke was forming just above his dad’s car.Somewhat alarmed, Lewis looked at the other cars on the road to find out if they too had a cloud of grey smoke chasing them. To Lewis’ surprise,  all the cars travelling on the motorway had the grey smoke hovering around them. So Lewis asked his father: â€Å"Dad, what’s that grey smoke above our cars? † Lewis’ father was a little surprised by the question, but answered: â€Å"Well, Lewis, it’s called pollution. † There was once a little boy of 6 years o ld called Lewis. One day, as he was looking out of the car window on his way to school, he discovered that a large mass of grey smoke was forming just above his dad’s car.Somewhat alarmed, Lewis looked at the other cars on the road to find out if they too had a cloud of grey smoke chasing them. To Lewis’ surprise,  all the cars travelling on the motorway had the grey smoke hovering around them. So Lewis asked his father: â€Å"Dad, what’s that grey smoke above our cars? † Lewis’ father was a little surprised by the question, but answered: â€Å"Well, Lewis, it’s called pollution. † There was once a little boy of 6 years old called Lewis. One day, as he was looking out of the car window on his way to school, he discovered that a large mass of grey smoke was forming just above his dad’s car.Somewhat alarmed, Lewis looked at the other cars on the road to find out if they too had a cloud of grey smoke chasing them. To Lewisâ€⠄¢ surprise,  all the cars travelling on the motorway had the grey smoke hovering around them. So Lewis asked his father: â€Å"Dad, what’s that grey smoke above our cars? † Lewis’ father was a little surprised by the question, but answered: â€Å"Well, Lewis, it’s called pollution. † There was once a little boy of 6 years old called Lewis. One day, as he was looking out of the car window on his way to school, he discovered that a large mass of grey smoke was forming just above his dad’s car.Somewhat alarmed, Lewis looked at the other cars on the road to find out if they too had a cloud of grey smoke chasing them. To Lewis’ surprise,  all the cars travelling on the motorway had the grey smoke hovering around them. So Lewis asked his father: â€Å"Dad, what’s that grey smoke above our cars? † Lewis’ father was a little surprised by the question, but answered: â€Å"Well, Lewis, it’s called pollution. â €  â€Å"Pollution? What’s pollution? † asked Lewis, waiting intrigued for his father’s answer. â€Å"Well, for example, it’s that grey smoke you can see above our cars.Cars that run on petrol or diesel give off gasses into the atmosphere, which are very bad for all living beings and the planet too. Today you can see a lot of the grey smoke because it hasn’t rained for a long time,† answered his father. There was once a little boy of 6 years old called Lewis. One day, as he was looking out of the car window on his way to school, he discovered that a large mass of grey smoke was forming just above his dad’s car. Somewhat alarmed, Lewis looked at the other cars on the road to find out if they too had a cloud of grey smoke chasing them.To Lewis’ surprise,  all the cars travelling on the motorway had the grey smoke hovering around them. So Lewis asked his father: â€Å"Dad, what’s that grey smoke above our cars? † Lewis’ father was a little surprised by the question, but answered: â€Å"Well, Lewis, it’s called pollution. † â€Å"Pollution? What’s pollution? † asked Lewis, waiting intrigued for his father’s answer. â€Å"Well, for example, it’s that grey smoke you can see above our cars. Cars that run on petrol or diesel give off gasses into the atmosphere, which are very bad for all living beings and the planet too.Today you can see a lot of the grey smoke because it hasn’t rained for a long time,† answered his father. There was once a little boy of 6 years old called Lewis. One day, as he was looking out of the car window on his way to school, he discovered that a large mass of grey smoke was forming just above his dad’s car. Somewhat alarmed, Lewis looked at the other cars on the road to find out if they too had a There was once a little boy of 6 years old called Lewis. One day, as he was looking out of the car window on his way to school, he discovered that a large mass of grey smoke was forming just above his dad’s car.Somewhat alarmed, Lewis looked at the other cars on the road to find out if they too had a cloud of grey smoke chasing them. To Lewis’ surprise,  all the cars travelling on the motorway had the grey smoke hovering around them. So Lewis asked his father: â€Å"Dad, what’s that grey smoke above our cars? † Lewis’ father was a little surprised by the question, but answered: â€Å"Well, Lewis, it’s called pollution. † â€Å"Pollution? What’s pollution? † asked Lewis, waiting intrigued for his father’s answer. â€Å"Well, for example, it’s that grey smoke you can see above our cars.Cars that run on petrol or diesel give off gasses into the atmosphere, which are very bad for all living beings and the planet too. Today you can see a lot of the grey smoke because it hasn’t rained for a long time,† answered his father. cloud of grey smoke chasing them. To Lewis’ surprise,  all the cars travelling on the motorway had the grey smoke hovering around them. So Lewis asked his father: â€Å"Dad, what’s that grey smoke above our cars? † Lewis’ father was a little surprised by the question, but answered: â€Å"Well, Lewis, it’s called pollution. † â€Å"Pollution? What’s pollution? asked Lewis, waiting intrigued for his father’s answer. â€Å"Well, for example, it’s that grey smoke you can see above our cars. Cars that run on petrol or diesel give off gasses into the atmosphere, which are very bad for all living beings and the planet too. Today you can see a lot of the grey smoke because it hasn’t rained for a long time,† answered his father. d by the question, but answered: â€Å"Well, Lewis, it’s called pollution. † â€Å"Pollution? What’s pollution? † asked Lewis, waiting i ntrigued for his father’s answer. â€Å"Well, for example, it’s that grey smoke you can see above our cars.Cars that run on petrol or diesel give off gasses into the atmosphere, which are very bad for all living beings and the planet too. Today you can see a lot of the grey smoke because it hasn’t rained for a long time,† answered his father. Lewis spent a while pondering on this, and began to put two and two together. If the  grey smoke was bad, and it was all because of cars, then  why were there so many cars on the road? â€Å"Dad,† said Lewis slowly, â€Å"If the grey smoke is pollution and is bad for us,  why are we going to school in a car? † â€Å"So I can get to work on time, son.The bus or metro would make us late,† answered his father. It was Spring. As soon as the cold weather went, it came back again. The sun seemed ashamed to show his smily face for more than the odd morning. To top it all, loads of people were sick . A spectacular chucking-up bug was going around the school. If anyone looked so much as a bit pasty in class, the teacher would grab an empty litter bin and tell them to hold it close by. Minutes later the school secretary would be calling Little So and So’s mother and telling her to get over quickly and collect her sick child.The bug even got poor Isis, who was NEVER off school. Like everything else about her, Isis’s attendance record was usually perfect – but not this week, because there was no way she could come in. She texted Katie: â€Å"Poor me, I feel so rotten! Chucked up 6 times. Is that a world record? † Katie had so far escaped the bug. She was very careful about washing her hands and not going near anyone who coughed or spluttered. She asked her mother what could be done for Isis, and she suggested an ancient witch’s remedy made from mint leaves and mandrake’s root. ‘Sounds great,’ said Katie, â€Å"Why don’ t witches cure everyone? ’

Private Equity Firms

Private Equity Firms What is the private equity firm? A Private equity firm can be defined as a company that invest huge amounts of capital known as the private equity fund in the stakes of a private firms. In other words, private equity firms invest in classified equities of working companies through application of various investment strategies. From the definition, private equity means capital that is not traded in the stock exchange markets (Bruining et al. 593).Advertising We will write a custom research paper sample on Private Equity Firms specifically for you for only $16.05 $11/page Learn More In most cases, private equity firms raise private equity capital from institutional investors and devote the capital in public firms that face delisting from the stock exchange through buyouts. Private equity capital is normally used in the expansion of working capital of the acquired firm, make acquisitions, finance research and development as well as new technologies. In addition, the private equity capital can be invested in strengthening the balance sheet of an acquired company. As indicated, private equity firms are often institutional and recognized investors committed to long-term returns on investments. Since private equity firms invest in companies that are almost collapsing, they often require longer periods for the acquired firms to turn around in order to start earning back investments. In most cases, private equity firms normally apply venture capital, leveraged buyouts as well as capital growth as the investment tactics (Bruining et al. 595). Leveraged buyouts are the situations where private equity firms invest in a nearly collapsing public firm risking delisting from the stock exchange market. Leveraged buyouts involve purchasing huge debts of the firm with the hope of reselling once financial conditions have improved. The injected funds are used to improve financial statements as well as prospects of the firm. Essentially, Private equity firms are perceived as the sponsoring companies since they provide funds for investments. In other words, private equity firms support other companies through the provision of financial assistances. In most cases, private equity firms normally raise funds, which they invest in private equities depending on the applied investment strategy. How and when did private equity firms first started? Prehistory of private equity firms Investments in private companies can be traced back to the beginning of industrial revolution when investors were involved in private acquisitions and mergers.Merchant bankers in the financial industry were often involved in making small investments on privately held companies. In addition, financial institutions were acquiring other firms particularly in the mining industry as well as other profitable firms in public sectors (Chemmanur et al. 4039).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first pap er with 15% OFF Learn More Such acquisitions were equated to the current industrial buyouts where private equity firms buy large public corporations that are nearly collapsing. In fact, the buyouts and acquisitions continued throughout the first half of the 20th Century before the development of the current venture capital. In addition, the first half of the 20th Century was characterized by legal limitations on banks and other financial institutions that constrained the transactions involving private acquisitions (Chemmanur et al. 4039). Moreover, such regulations restricted the flow of capital from the merchant banks to the private firms. In fact, the private equity firms started to come into existence after the denunciations of financial regulations that put limitations on the flow of capital. Besides, the lifting of the regulations also led to the emergence of venture capital. Venture capital provided funds as well as other factors that contributed to the growth of private equity firms particularly after the Second World War. The emergence of private equity firms Private equity firms emerged in 1940s when the development and growth of venture capital and leveraged buyouts were at the peak. In fact, the venture capital and leveraged buyouts were considered part of the private equity firms. Davila, Foster and Gupta argue that the growth and development of venture capital and leveraged buyouts also led to the development of private equity firms 691. The venture capital provided funds that were greatly required at the time for the development of private equity firms. In addition, leveraged buyouts were part of the capital markets where institutional investors used to participate in the establishments of private equity firms. Even though venture capital and leveraged buyouts grew and developed in analogous and unrelated paths, they offered suitable market for the establishment of the private equity firms (Bruining et al. 595). Private equity ind ustry developed particularly in 1946. The established and well-structured venture capital market during the time led to the development of private equity firms. The venture capital provided the much needed funds as well as technical expertise in the management of private equity firms (Bruining et al. 595). The establishment of venture capital brought to an end the shortage of funds that was required for the development of private equity firms.Advertising We will write a custom research paper sample on Private Equity Firms specifically for you for only $16.05 $11/page Learn More As indicated, the widespread of equity firms particularly after the Second World War was due to organized private equity market. However, during the period, the equity market was still underdeveloped resulting into the shortage of sources of long-term financing for private equity firms. Due to this inadequacy, the private sector took the opportunity to develop new markets for private equity firms. The markets offered cheap and long-term sources of capital for existing and newly established firms (Bruining et al. 595). In addition, the new sources of funds established novel grounds for the startup of new equity firms. Essentially, developments of the equity markets that provided long-term and cheap funds resulted in mushrooming of new equity firms. In addition, the private sector was responding to an economy that had increased funds particularly from the released wealthy military inductees. In fact, there was need for large firms to absorb such capital. In order to come up with such firms, a private sector that would attract large institutions was required. During this time, technical and managerial skills to manage the funds were also inadequate (Chemmanur et al. 4039). The American Research and Development Corporation (ARDC) was established in 1946 to research on equity firms and their markets as well as to provide adequate advice on ways through which such fi rms could be developed. In addition, the ARDC was also tasked with the responsibility of raising funds for investments in equities. Moreover, ARDC was to provide training on the private equity management skills needed for the success of private equity firms. ARDC was majorly formed to boost private equity investments and became the first institution to raise capital and invest in equity. In addition, ARDC took advantage of floating funds from wealthy individuals. The corporation tapped the floating funds and invested in other areas including mergers and acquisitions that were equally profitable. Besides, ARDC invested in venture capital and was credited as the architecture of the current ventures capital (Chemmanur et al. 4039). The growth and development of private equity firms from 1946-1980 The growth and development of private equity firms were at a slow progress in the first 36 years since the establishment of private equity firms. In fact, small volumes of private investments, undeveloped private firms’ management as well as unpopularity of private equity firms marked the period (Chemmanur et al. 4039). The smaller volumes in the private equity investments were due to lack of awareness among the institutional investors.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In fact, institutional investors in the early 1960s and 70s were not aware of the presence of private equity firms. Essentially, most of the institutional investors lacked adequate information concerning the operations of private equity firms. In addition, scarce skills and capital required for the success of private equity firms lacked (Chemmanur et al. 4039). What are the main functions of private equity firms in the economy? Attracting investment funds Like most large firms in the economy, private equity firms have greater roles to play in the economy. Private equity activities normally began by successfully attracting investable funds. In other words, the major function of private equity firm is to attract funds that can easily be invested in the economy (Achraya et al. 368). Offering alternative investment opportunities to the investors Private equity firms offer alternative investment prospects particularly where some sectors of the economy perform poorly. Moreover, while attr acting investable funds, the private equity firms provide ways through which investors can allocate part of their investments in comparatively complicated, long-term investments. Probably, sectors where investors can apportion their finances for enduring repayment range from pension funds to sovereign wealth funds. In these areas, individual investors are assured of their long-term benefits through appropriate management practices that private equity firms offer. Investments in small, medium and large enterprises Private equity firms offer capital to firms of various sizes within the economy. In addition, private equity firms offer funds to all companies in different stages of their life cycle. In fact, firms that are in infant stages can easily get soft loans in private equity firms. Additionally, Small and Medium Enterprises (SMEs) can also seek expansion capital from equity markets. Most importantly private equity firms normally fund firms that are just about to be liquidated. Be sides funding, such firms are also provided with managerial skills as well as other incentives that would enable their continuity. Moreover, family businesses that need succession arrangement also seek assistance from private equity firms (George et al 215). Private equity firms provide managerial functions One of the major functions of private equity firms is the provision of managerial expertise. Industries in which private equity firms invest have increased benefits from the function. In fact, firms that are managed by private equity companies normally benefit from improved information arrangement as well as enhanced business control capacities. In addition, private equity firms have the capability of introducing performance-based incentives aimed at enhancing performance of the invested companies. Further, private equity firms management tends to have increased control of novel management approaches and provides extensive value added post-investment support. Increased capital in vestments The attraction of investments funds into the economy leads to increased investable funds into the economy. The private equity firms have the capability of attracting investable funds, which increase capital that can be used by other businesses from various sectors of the economy. Statistics indicate that private equity firms have attracted over $250 billion for investment capital in the last financial year (George et al 215). In market-based economy such as US, the private sector is perceived to be the major driver of economic growth. As such, private equity firms play critical roles in attracting and increasing capital for investment in the private sector. Therefore, private equity firms fuel economic intensification through the provision of investment funds. In addition, private equity firms facilitate increased private sector investments thereby inspiring economic growth New business creation and sustainable investments The funds invested by the private equity firms res ult in the creation of new businesses, which in turn lead to the generation of new jobs. In addition, private equity firms invest in businesses that are almost being bankrupt thereby ensuring their long-term sustainability. Such firms are critical for the growth of the economy (Cressy et al. 661). Besides, sustaining the firms also mean maintaining the existing jobs as well as increasing the prospect of creating novel employment. Essentially, private equity firms promote the creation of new business through the provision of capital and management advice. In addition, through maintaining the existing firms, private equity firms contribute to the preservation of employment opportunities. Besides sustenance and creation of businesses as well as jobs, private equity firms are also a source of positive externalities. Positive externalities are benefits enjoyed by the third parties. In fact, increasing the knowledge base particularly in management and entrepreneurship increases multiple b enefits that can only be described as positive externalities. Improved management methods Private equity firms have the capability of improving the managerial skills of various companies in which they have invested. In fact, the private equity management often has constructive influences on the performance procedures in terms of profitability and growth on firms in which they have invested (Chemmanur et al. 4040). In addition, private equity firms have the capability of ensuring that firms that are collapsing are provided with financial and management impetus in order to enhance their productivity. Through such measures, private equity firms ensure the survivability of firms across various sectors in the economy. Besides, firms having succession planning challenges often seek assistance from private equity firms. Private equity firms provide appropriate advice on succession arrangement, which ensures long-term sustainability and growth. Greater innovation Private equity firms foster innovation through various activity outcomes in the economy. In fact, through the provision of improved managerial skills, firms become innovative and entrepreneurial. One of the ways through which innovation can be enhanced is through investments in research and development. Putting funds on development of new products enhances the innovative culture within the firm. Private equity firms not only fund research and development on new products and services but also other operation processes undertaken within the firm. Moreover, private equity firms invest in start-up firms that tend to be innovative. Increased productivity Private equity firms improve the productivity of businesses through various activities. In fact, there is a direct relationship between increased productivity and economic growth. Increased productivity results from efficient production as well as use of resources (Bruining et al. 601). Essentially, private equity firms promote measures that aid in the efficient p roduction and use of resources. The private equity firms provide improved management as well as advice on better resources utilization. One of the ways in which firms can improve their efficiency is through appropriate training on management. Acquiring better management skills particularly in efficient use of resources is one of the ways through which organizations improve their productivity, which translate into general economic growth. In addition, capital accumulation is encouraged through investments made on the fixed assets such as factories, housing units and production equipments. Private equity firms have large pools of capital that can be invested in such fixed assets. Such investments in fixed capital increase labor productivity. The provision of capital for investments in physical capital contributes hugely to the economic growth. Further, by supporting the formation of new businesses, increased employment opportunities are created. Substantial growth in the economy can o nly be realized when firms are capable of sustaining the creation of new employment opportunities. Enhanced competitiveness Firms with enhanced productivity have increased chances of being competitive at all levels in the market. The reason is that profits earned can be re-invested in other areas that provide the firm with increased competitive advantage. Besides, increased productivity contributes to economic competitiveness when it results in the amplification of firms’ competitiveness both at the local and global markets. Increased economic competitiveness ensures enlarged economic expansion. Essentially, private equity firms contribute to increased economic competitiveness through enhanced productivity. Besides, increased economic growth is directly associated with trade exports. Private equity firms encourage economic growth in a number of ways. First, private equity firms support export-oriented companies. Additionally, private equity firms augment the capability of exp ort-oriented companies to develop into worldwide markets. How do private equity firms operate and make profit? Private equity firms invest in classified equities of working firms through the application of various investment strategies. Actually, investment approaches of private equity firms encompass venture capital, leveraged buyouts and capital growth. Private equity firms are perceived as sponsoring companies since they provide funds for investments. In other words, private equity firms support other companies through the provision of financial assistances. In most cases, private equity firms normally raise funds, which they invest in private equities depending on the applied investment strategy. Essentially, private equity firms normally raise investment funds commonly referred to as the private equity capital from various financial institutions particularly pension funds and insurance companies to finance and sponsor investments. A fee is charged on every investment made. The fees charged together with prearranged share of profit are the earnings of private equity firms on the investments made. In other words, private equity firms get carried interests on every private equity fund put in investments. In most cases, private equity firms get hold of considerable minority position in some of the firms they have invested. Once the sizeable marginal position has been accomplished, private equity firms optimize the expected outcome of the invested capital. Initial Public Offerings (IPOs) are significant methods through which investment returns are conveyed back to the owner. Besides, private equity firms get returns on their investments when the firms they manage are sold through mergers and acquisitions. Recapitalizations are also applied in order to realize the gains though at minimal occasions. In the initial public offerings, shares of the firm are offered to be bought by the public through the capital markets particularly at various stock exchanges. The p ublic offering provides fractional and instantaneous realization of returns to the private equity firm, which is normally the sponsor. In addition, IPOs offer the private equity firms with markets in which they will later sell its shares. Through mergers and acquisitions, the firms being managed are sold out or merged with performing firms. Private equity firms realize the returns from sales proceeds. In the case of a merger, private equity firms have shares of profits made by the new firms that result from the mergers. One major characteristic of private equity firms is that they make long-term investments in less liquid assets and have direct influence on the operations of firms. In addition, private equity firms take charge of the firms’ operations in order to supervise any potential risks and accomplish the required development through long-term investments. What are some of the advantages of private equity firms in terms of disclosure and accounting regulations over othe r publicly-traded firms? Private equity firms operate like private companies. Therefore, private equity firms gain from the accruing benefits because of less restricted financial reporting and legal requirement. In other words, private equity firms are not exposed to stringent financial reporting and legal regulations. The less reporting requirement procedures have increased benefit to private equity firms. The benefits range from increased control of the decisions made to elimination of double taxation on their shareholders. Greater control of the firm’s decisions With reduced reporting requirements and substantially decreased pressures from shareholders and markets, private equity firms have increased flexibility in terms of operations. As such, private equity firms focus attention towards achieving long-term growth instead of quarterly earnings that are part of the financial reporting requirements in other publicly traded firms. In addition, due to reduced shareholders exp ectations and approvals, private equity firms have the capability of making decisions and taking action without the approval of the shareholders. Increased benefits from Securities and Exchange Commission (SEC) exemptions The private equity firms are exempted from some of the Securities and Exchange Commission (SEC) filling requirements as well as other post-offering duties. In fact, private equity firms are exempted from some of the federal financial security regulations and obligations such as reporting on the shareholders’ discussions, investors’ conferences as well as research analysts’ discussions. Such regulations have been found to be costly, consuming much of the firms’ time and have negative effects on productivity. In fact, most public firms argue that the effects of SEC regulations on the productivity of the firms are unpredictable. The stringent disclosure requirements of SEC such as filling annual and quarterly reports are generally additiona l accounting and legal expenses. Therefore, exemptions from SEC regulations have drastically reduced accounting and legal costs for the private equity firms. Private equity firms reduces the cost of going public Private equity firms normally reduce various regulatory costs associated with going public. In fact, private firms going public usually go through a range of processes including restructuring as well as implementation of new accounting regulations and procedures. The restructuring process is designed to avoid possible issues that may come about due to SEC filing requirements. The restructuring process normally involves reforming the structure of the organization and capital, bookkeeping procedures and practices, material convention, equity participation policies as well as the employment conformities. In addition, detailed disclosure documents must also be prepared for the new investors. All the requirements are costly in terms of finance and time. Private equity firms spons oring public offerings are normally exempted from the detailed SEC requirements thereby reducing the costs of going public. Reduced chances of disclosing sensitive information Private equity firms are not required to disclose details of their operations. As such, the chances of revealing sensitive information that can be used by the competitors are reduced. In fact, non-disclosure of the operations and financial outlook of private equity firms are added competitive advantage over other publicly traded firms. Competitors can use the information to point on the weaknesses, which can be used to reduce the firms’ reputations as well as erode the clients and shareholders confidence particularly during the financial turmoil. Free from shareholders activism In most cases, regulations require that the financial institutions as well as hedge funds buy over 50% stake in any public firm. Buying over 50% stake mean that the financial institutions can gain control over the operations of t he business. As such, the majority shareholder can influence the sales as well as any considerable restructuring. In fact, public firms that have been taken over by these financial institutions and hedge funds risk losing their entire stake. Since the requirement does not apply to private equity firm, they normally gain minority stake on firms they have invested. In fact, the firms do not risk losing their stakes to the private equity firms. However, private equity firms gain executive control in order to manage potential risks and realize long-term growth and development of the firm. Is private equity firm the same as the private equity fund? Private equity firms and private equity funds are normally being confused to mean the same thing. In fact, private equity firm and private equity fund have been used interchangeably in most of the scholarly articles. However, the two terms are different. Essentially, private equity firms are companies that make long-term investments on both pr ivate and public corporations through the application of various strategies (Cressy et al. 649). Researches indicate that private equity firms commonly apply investment approaches that range from venture capital to capital accumulation. On the other hand, private equity funds are finances that private equity firms invest on other companies. Besides, private equity funds are a pool of capital that private equity firms collect from institutional and retail investors in order to put in long-term investments through the application of various investments approaches. The private equity funds earn profits or interests for the private equity firms. In other words, private equity firms earn a carried interest on every private equity fund that is put in investments (Cressy et al. 649). What are some of the well-known private equity firms and where are they located Consistent with most current rankings of private equity firms, the most popular and largest equity firms range from the Carlyle g roup to Bain Capital. The leading firms often make large purchases in form of buyouts. In other words, well known private equity firms invest directly on the companies instead of trading in private equity asset category. According to the current categorization, the well-known private equity firms include the Carlyle group, which is situated in Washington DC, Kohlberg Kravis Roberts based in New York as well as Goldman Sachs Principal Investments Group that is also based in New York. Also in the top position in terms of trading volumes include Blackstone Group headquartered in New York, TPJ Capital, which is based on both Texas and California and Bain Capital based in Boston, Massachusetts. Achraya, Viral, Olivier Gottschalg, Moritz Hahn and Conor Kehoe. â€Å"Corporate Governance and Value Creation: Evidence from Private Equity.† Review of Financial Studies, 26.2 (2013), 368–402. Print. Bruining, Hans, Ernst Verwaal and Mike Wright. â€Å"Private equity and entrepren eurial management in management buy-outs.† Small Business Economics, 40.3 (2013), 591–605. Print. Chemmanur, Thomas, Karthik Krishnan and Debarshi Nandy. â€Å"How Does Venture Capital Financing Improve Efficiency in Private Firms? A Look Beneath the Surface.† Review of Financial Studies, 24.12 (2011), 4037–4090. Print. Cressy, Robert, Federico Munari and Alessandro Malipiero. â€Å"Playing to their strengths? Evidence that specialization in the private equity industry confers competitive advantage.† Journal of Corporate Finance, 13.4 (2007), 647–669. Print. Davila, Antonio, George Foster and Mahendra Gupta. â€Å"Venture capital financing and the growth of startup firms.† Journal of Business Venturing, 18.6 (2003), 689–708. Print. George, Gerard, Jonathan Wiklund and Shaker Zahra. â€Å"Ownership and the Internationalization of Small Firms.† Journal of Management, 31.2 (2005), 210–233. Print.

Service quality and customer satisfaction are important to marketers Essays

Service quality and customer satisfaction are important to marketers Essays Service quality and customer satisfaction are important to marketers Essay Service quality and customer satisfaction are important to marketers Essay Essay Topic: Marketing 1. Introduction It is the job of a marketer to realise, understand and effectively make use of how a customer can best provide the business with the profit that it strives for. As marketing in the 21st century has moved away form traditional offensive strategies and moving towards defensive strategies where pull factors become vital when attracting and maintaining customers. A customer will purchase a product or service for a number of reasons, all however, are to satisfy the customers need or want at that moment in time. If we can understand what motivates the customer to purchase we can start to understand how and why the customer becomes one of the businesses biggest asset as it is the customer who affects the bottom line measures of success, namely profits. In order to analyse the title statement and ascertain outcomes and conclusions this paper will examine both classical and modern day literature making reference to how the areas of service quality, satisfaction and customer retention have been focused upon in academia. This paper shall endeavor to highlight any relevance links between these areas of business whilst answering the question of the statements validity in modern-day business. Breaking down the title quote will allow us to compare and contrast past literature on the subject and how they relate to each other. 2. Service Quality Berry et al (1988) defines service quality: Service quality can often make the difference between a businesss success and failure and Quality is conformance to customer specifications; it is the customers definition of quality, not managements that counts. These quotes put in context the importance of service quality and how important it is to focus on the customer when aiming to create this quality in service. Berry et al (1988) describe service quality as being a major differentiator for businesses as well as being a powerful competitive weapon. There has been overwhelming literature on the subject of service quality on the past two decades. Gronroos (1984) explains a customers perception of service quality: it is reasonable to state that the perceived quality of a given service will be the outcome of an evaluation process, where the consumer compares his expectations with the service he perceives he has received, i.e. he puts the perceive service against the expected service. The result if this process will be perceived quality of the service. If a customer enters the market place with low expectations of the service he or she is about to experience it is likely that if the service is better than expected the perceived level of quality of service will be high. Similarly, if expectations are high it is going to be harder for the supplier to meet the customers expectations. The service quality cannot simply be determined by the organization, it must come from the customer. If the supplier can realize what the customer wants, and more importantly, what the customer expects, it can use this information when attempting to serve the customer. Gronroos (1984) goes on to describe Technical and Functional quality, see The Service Quality Model figure 1 below: The technical quality is the outcome of the transactional. This is what the customer attempts to find when entering the market place and seeks to satisfy the original want or need. The functional quality is how well the service does its job and is what contributes to the quality of the service. Once the technical and functional qualities are added to the image of the service the customer can start to evaluate its service quality. The image of the organization and the image of service itself can dramatically affect the way in which the customer perceives the overall service quality. Gronroos (1984) also explains that: image may be a quality dimension. If a consumer believes that he goes to a good restaurant and the meal, for instance is not perfect, or the behaviour of the waiter is irritating, he may still find the perceived service satisfactory. Zeithaml and Bitner (p.92, 2003) explain how consumers judge service quality: Over the years service researchers have suggested that consumers judge the quality of services based on their perceptions of the technical outcome provided, the process by which that outcome was delivered, and the quality of the physical surroundings where the service is delivered. The Interactions Qualities are the qualities that the organization attempts to serve the customer with, such response times and the ability to communicate clearly with the customer. Any combination of the five factors above contribute to how the customer perceives the service quality he or she receives during the interaction between them and the organization. The Physical Surroundings that the customer is aware of is another quality that contributes to service quality. This can be as simple as a comfortable chair for the customer to sit on whilst he or she is dealing with the organization the perception of a customers surroundings can influence a customers overall perception of service quality. An example of this would be Nike Town where the whole where the customer is encouraged to fully engage in the shopping experience as it becomes a day out offering customers to perceive excellent quality service. The Outcome Qualities are what gets the customers attention and what the customer wants to get out of the interaction with the organization. For example, if a customer wanted a jacket to be dry-cleaned the clean jacket would be the outcome quality. Again, the five factors listed above make up an overall perception for the customer on the outcome quality. Parasuraman, et al (1985) describe how understanding customer expectations through market research and open communication with employees contributes to the five service quality dimensions. If an organization can gain information about the market it can more effectively create superior service dimensions for the customer by identifying what the customer wants and how these wants fit into the market as a whole. Open communication with employees also allows the organization to gain first hand data on customer responses as employees often received on-the-spot feedback from customers. Parasuraman, et al (1985) also describes how management commitment to service and employee performance impact on how the service dimensions are perceived. Zeithaml Bitner (1996) describe the zone of tolerance and the two levels of service expectation, see figure 3. Figure 3 The zone of tolerance lies between a perceived adequate level of service and the desired level of service. Due to the nature of services variation can often arise from serving one customer to another. One customer may even experience different levels of service, or a lack or consistency, from one transaction to another. The zone of tolerance allows for an amount of variation where the customer still finds the service to be acceptable if the perceived level of service drops below the acceptable level the customer will become frustrated and dissatisfied. The zone of tolerance can increase or decrease for individual customers depending on factors including competition, price or importance of specific service attributes (Lovelock et al, p.127, 1999) For example, if a customer was given a complimentary holiday from a travel company they are likely to have a larger zone of tolerance than if they had paid full price. The level of service they receive may drop to below what they would usually accept but because the holiday was free they may not be dissatisfied. Just three years later Burrell and Gale (1987) show us the PIMS Principle (figure 4) and the relationship between Relative Quality and Relative Market share. This is a useful model to understand as it brings in the Return on Investment (ROI) which most models do not include. The equations are: High Market Share + High Quality = High ROI Low Market Share + Low Quality = Low ROI We must remember that service quality is rarely described as a cheap or short-term implemented part of business. Berry et al makes it clear that service quality is long term if it is to work. There are no ways to change the attitudes, habits, knowledge, and skills of human beings quickly. Service quality can add a valued differentiator to the products offered where goods in todays environment are largely undifferentiated. However, this will inevitably have an instant effect on bottom line success in that it will costing will increase. 3. Customer Satisfaction We can define customer satisfaction: Satisfaction is the consumers fulfillment response. It is a judgment that a product or service feature, or the product or service itself, provides a pleasurable level of consumption-related fulfillment. Zeithaml and Bitner (2003) quote R. L. Oliver. Satisfaction happens when the customer perceives the product or service to at least meet their expectations. The customer may experience fulfillment, contentment, pleasure, delight or relief. If the customers needs or wants are not met he or she will become dissatisfied. Zeithaml and Bitner (2003) go on to compare customer satisfaction: Although they have certain things in common, satisfaction is generally viewed as a broader concept, whereas service quality assessment focuses specifically on dimensions of service. Based on this view, perceived service quality is a component of customer satisfaction. We can see how the Customer Perceptions of Quality Customer Satisfaction model (Zeithaml and Bitner, 2003) is completed in figure 5. Figure 5 We can see that price is introduced as a contributing factor to customer satisfaction, whereas as price does not contribute to service quality. Most importantly, we can see that situational and personal factors influence customer satisfaction. These factors are beyond the control of the organization and are part of individual customers and what they bring with them to the market place. Customers emotions can also affect their perceptions of satisfaction, Positive emotions such as happiness, pleasure, elation and a sense of warm-heartednesss enhanced customers satisfaction (Zeithaml Bitner, 2003) Zeithaml are offering the notion of emotional transactions with the service delivery and if organizations factor this into the delivery it is likely to enduce a positive outcome of customer satisfaction, hence customer satisfaction is in itself an emotional state. This is important to marketers, as a customer with already positive emotions is likely to respond to the service quality with an already positive outlook when dealing with the supplier. Negative emotions will, however, have the opposite affect. negative emotions such as sadness, sorrow, regret and anger led to diminished customer satisfaction. (Zeithaml Bitner, 2003) Cronin Taylor (1992) describes the results from their study on Service Quality that they link to satisfaction and the relationship the results are as follows: (1) a performance-based measure of service quality may be an improved means of measuring the service quality construct, (2) service quality is an antecedent of consumer satisfaction, (3) consumer satisfaction has a significant effect on purchase intentions, (4) service quality has less effect on purchase intentions than does consumer satisfaction. 4. Defections Management Realising and effectively managing how and why customers decide to leave, or defect, from your company can have a positive impact on bottom line success. Companies can boost profits by almost 100% by retaining just 5% more of their customers. (Reichheld Sasser, p.105, 1990) Reichheld Sasser (1990) explain the cost of losing a customer in relation to the initial spend made by companies to gain the customer in the first place. An example of a credit card is used to demonstrate how attracting one customer can cost as much as $50 but this outlay is not recouped until year two. They explain that operating costs decrease the longer the customer stays with the company, and revenues increase year on year as the customer becomes more confident in using the service. Costs are likely to decrease as a more confident customer is expected to spend less time asking questions and more time making use of the service i.e. spending. Defections Management can also result in increased profits from referrals and price premiums. 5. Repeat Purchasing and Retention Customer repurchase intention is influenced by seven important factors service quality, equity and value, customer satisfaction, past loyalty, expected switching cost and brand preference. (Hellier et al, 2003) Past loyalty to the product is likely to influence the customer making another purchase simply due to the loyalty the customer feels towards the business. If a customer has been loyal in the past it may feel perfectly natural to carry on with a system that has worked in the past. Large organizations, for example, will often order supplies such as stationary from the same supplier because they have systems in place to make those orders due to past loyalties with the supplier. The expected switching cost can be a major contributing factor to repurchases in industries where joining fees or get-out clauses exist. Jones Sasser (1995) compare satisfaction with retention at Rank Xerox in the early 1990s (Figure 6). High levels of retention are not met until the customer is very satisfied. Just not dissatisfying the customer or even satisfying the customer is not enough to gain 50% or higher levels of retention. Rust et al (1995), however, say that scores of 5 will result in 97%, a score of 3s and 4s will result in 95% retention. We can see from this that satisfaction to retention varies from one organization to another, as well as from industry to industry. Figure 7 (Jones Sasser, 1995) displays how this relationship changes dependant on industry. A service such a telephone service provider (or most utility providers) often serve their customers because there is none or very little alternatives available. Contracts and notice to leave also result in customers staying with their service provider because it is more convenient, even if they are not especially satisfied. A motorcar supplier is shown to have the opposite affect as there is much choice in the market and customers are free to purchase how and when they like. Technological advances may also influence if and when a customer defects from one company to another, as they may desire new technology from a competitor. Robert Weisman, Boston Globe (2004) supports this notion: Some customers may feel trapped theyll continue doing business with their vendors because they have to, not because they want to. We can also explore the notion that loyal customers have a direct postive affect on bottom line business success. Much literature on loyal agrees that loyal customers will be more familiar with a companys transactional processes and therefore should find it cheaper to serve them (Reinartz et al, 2002) Reinartz et al (2002 ) do not agree fully that loyal customers have a direct positive affect on profits: Specifically, we discover little or no evidence to suggest that customers who purchase steadily from a company over time are necessarily cheaper to serve, less price sensitive, or particularly effective in bringing in new business.