The Motive Behind Merger And Acquisition Finance Essay - Free Essay Example

INTRODUCTION Background Mergers and Acquisitions have gained substantial importance in todays corporate world. This process is extensively used for restructuring the business organizations. Some well known financial organizations also took the necessary initiatives to restructure the corporate sector of India by adopting the mergers and acquisitions policies. The  Indian economic reform since 1991 has opened up a whole lot of challenges both in the domestic and international spheres. The increased competition in the global market has prompted the Indian companies to go for mergers and acquisitions as an important strategic choice. The trends of mergers and acquisitions in India have changed over the years. The immediate effects of the mergers and acquisitions have also been diverse across the various sectors of the Indian economy. The Indian Economy has been growing at the fast rate and emerging as the most promising economy in the world. Be it in IT, RD, pharmaceutical, infrastructure, energy, consumer retail, telecom, financial services, media, and hospitality etc, there has been a sign of promising boom in the Indian economy. It is the second fastest growing economy in the world with GDP touching 8.9 % in 2010. Investors, big companies, industrial houses view Indian market in a growing and proliferating phase, whereby returns on capital and the shareholder returns are high. Both the inbound and outbound mergers and acquisitions have increased dramatically. According to Investment bankers, Merger Acquisition (MA) deals in India will cross $100 billion this year, which is double last yearà ¢Ã¢â€š ¬Ã¢â€ž ¢s level and quadruple of 2005. Indiaà ¢Ã¢â€š ¬Ã¢â€ž ¢s merger and acquisitions deal value in year 2010 reached almost US $50 billion which is three times of the deal value last year 2009. There were MA deals worth about $16 billion in 2009, down from close to US $40 billion in 2008. Definitions: Mergers: Mergers or amalgamation is combination of two or more companies to form as a single new company. In this process no fresh investment is made, however an exchange of shares takes place between the entities. In simple terms, a merger involves the mutual decision of two companies to combine and become one entity. Generally, merger is done between the two entities having similar size. Varieties of Mergers Mergers can be of various types. But there are 5 main mergers varieties which are valued most in the corporate world. Horizontal merger   Two companies that are in direct competition and share  the same product lines and markets. Vertical merger  Ãƒ ¢Ã¢â€š ¬Ã¢â‚¬Å" Two companies which are in the Value Chain. Market-extension merger  -  Two companies having same product but different target market. Product-extension merger  -  Two companies selling different but related products in the same market. Conglomeration   Two companies with unrelated business/ industry. Acquisitions Acquisition means buying the ownership of one company by another company, often as the part of the growth strategy. Unlike in merger, acquisition is generally done by a large company to a small one. Acquisitions can be either friendly or hostile. Like mergers, acquisitions are actions through which companies seek economies of scale, efficiencies and enhanced market visibility. Acquisition is done either in cash or acquiring the stock of the target company or both. Distinction between Mergers and Acquisitions Mergers and Acquisitions are often uttered as one and the same and considered to have the same meaning. But the terms merger and acquisition are two different term meaning. When one company takes over another independent company and clearly established itself as  the new owner, the purchase is called an acquisition. From a legal point of view, the  target company  ceases to exist and the buyer or the acquirer possesses the full control of the business and the buyers  stock continues to be traded, then it is acquisition. Regardless of the type of the strategic alliance they all have one purpose in common. They are all meant to create synergy that makes the value of the combined companies greater than the sum of the two parts. Synergy Synergy  is the force that is obtained when two or more components meet together to produces an exceptional result which when done solely cannot be achieved. In a business synergy takes the form of enhanced performance, increased profitability and exceptional cost reduction. By merging, the companies hope to benefit from the following: Staff reductions Economies of scale Acquiring new technology Improved market reach and industry visibility Importance of the study When a company wants to expand, there are various ways its can do. They can achieve the growth either by capturing the market share or by growing through strategic alliances. The main objective of the merger or acquisition is to achieve growth and synergy, economies of scale and capture or expand the market share. Buzz of merger and acquisition often creates hype in the financial market about the acquirerà ¢Ã¢â€š ¬Ã¢â€ž ¢s stock price. While most empirical research on merger focus on daily stock return surrounding announcement date, a few studies also look at long term performance of term performance of acquiring firm after merger.  [1]  Not only that, the performance of the company as a whole is also a matter of question mark. Will the company be able to perform better than it is doing or not? Problem Statement Many firm prior to merger and acquisition have an expectation to create a synergy from merger and acquisition. The main motive behind MA is to create efficiencies in the business and expansion of the business. But they most of the time ignore the fact that the effect of merger and acquisition has direct correlation with the value of the acquirers company and the stock price. The other problem that is to be considered is the financial risk associated with the MA. Research Objective The objective of this study is to gain the deeper and clear knowledge of the merger and acquisition on the acquiring firm. It also aims at the financial risk that a company may face post merger/ acquisition asa well as the long term performance of the acquirer. The objectives are as follows: To examine the effect of EPS myopia on the return of acquiring firms in mergers. Evaluate the effect on the stock price of the acquiring company post merger and acquisition. Critically evaluating if the shareholders of the acquiring companies experience wealth effect as a result of MA. The expected long term performance of the acquiring firm. Study of the financial risk pertaining to the merger and acquisition. Research Question What is the motive behind Merger and Acquisition? What is the effect on the stock price of the acquirer pre and post MA? Does the buzz create the bubble effect on the market or is it long lasting? What is the wealth effect of the acquirer firm post and pre MA? What is the trend of MA in Indian market? Drivers of MA in India What are the effects of MA to the competitors? Effect of the tax to the government post merger and acquisition. Limitations of the Study No proper information on the companies is found except for their Balance Sheet and Income Statement. This study is based on secondary database, so errors in the data could affect the results of the study. External factors such as economic conditions, regulatory changes etc are not taken into consideration. An overview of the Study This dissertation is divided into five chapters. The first chapter deals with the background information, problem statement, objective of the study, importance of study, research question limitation of the study. The second chapter deals with literature review. This chapter indicates the theoretical framework of the valuation method of Merger and Acquisition. It shows the detail description of the past research that has been done on the topic and discusses the outcome of the study. The third chapter deals with the research methodology of the dissertation. It deals with the Research method used for the data and information collection. It includes sample selection/design procedure, data collection and data analysis tools used in the dissertation. In this part assumptions had been made where there is lack of appropriate data and information. The fourth chapter deals with analysis and interpretation of the financial data that are used to achieve the objectives of the disserta tion. This section mainly deals with the findings from the study and also focuses on the analysis and its results. The fifth and the last chapter of this dissertation present the findings of the study, recommendation of the study to the investors, financial managers regulators. It also concludes the suggestions for future research. Chapter II Review of the Literature 2. Literature Review Many authors and writers have written lot about merger and acquisition and its impact on the performance of the company as well as on the economy. A great deal of research has been carried out on the performance of the corporations involved in the merger and acquisition. When a company wants to jump start a long term growth or boost up the corporate performance, MA may seem to be the best option. Yet study after study puts the success rate of MA lies just between 20% and 30%. A lot of researcher had tried to explain the abysmal statistics, usually by analyzing the attributes of the deals that worked and those that didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t. What is lacking is the robust theory that identifies the causes of those success and failures.  [2] 2.1 Merger and Acquisition: Conceptual Review Farlex Financial Dictionary  [3]  has defined à ¢Ã¢â€š ¬Ã…“A decision by two companies to combine all operations, officers, structure, and other functions of business. Mergers are meant to be mutually beneficial for the parties involved. In the case of two publicly-traded companies, a merger usually involves one company giving shareholders in the other its stock in exchange for surrendering the stock of the first companyà ¢Ã¢â€š ¬? Pratap G. Subramanyam (2005) has stated merger as in the term associated with the integration of one company into another. The merging company should exist thereafter and all its assets and liabilities get legally vested in the merged company. This means that the merger means amalgamation of the assets of the two or more companies to form a new company serving the similar or different purpose. 2.1.1 Recognition of amalgamation (merger) by Indian Statutory Bodies The Company Act of India does not define an amalgamation or a merger. Therefore, the term are being interpreted as being included in the term à ¢Ã¢â€š ¬Ã‹Å"arrangementà ¢Ã¢â€š ¬Ã¢â€ž ¢ as defined in Section 390(b). This is vindicated by the fact that Section 394 talks about arrangement that are in nature of amalgamation of two or more companies. It is possible under Companies Act for two or more companies to amalgamate using the shareholder approval route under Section 293(1)(a) though such route is never adopted. The more appropriate route is to get court order under Section 394 of the Act, which has been specifically enacted to enable amalgamations. Section 390 This section provides that à ¢Ã¢â€š ¬Ã…“The expression à ¢Ã¢â€š ¬Ã‹Å"arrangementà ¢Ã¢â€š ¬Ã¢â€ž ¢ includes a reorganization of the share capital of the company by the consolidation of shares of different classes, or by the division of shares into shares of different classes, or by both these methodsà ¢Ã¢â€š ¬? Section 394 This section contains the powers while sanctioning scheme of reconstruction or amalgamation. Under the Income Tax(IT) Act, 1961 Section 2(1B) the word amalgamation in relation to companies means the merger of one or more companies to another company or the merger of two or more companies to form one company so that: All the property of the amalgamating company or companies before the amalgamation becomes the property of amalgamating company by virtue of the amalgamation. All liabilities of the amalgamating company or companies immediately before the amalgamation become the liabilities of amalgamating company by the virtue of amalgamation. Accounting Standard AS-14 defines amalgamations as those pursuant to the provisions of the companies Act or any other statute, which may be applicable to the companies. Therefore, it applies to all transactions that come under the purview of Section 391-394 of the Companies Act that relate to integration of two or more com panies. AS-14 categorizes amalgamation into two categories: (a) amalgamation in nature of merger (b) amalgamation in nature of purchase. An amalgamation fall into former category if: All assets and liabilities of transferor company become after amalgamation, the assets and liabilities of the transferee company. Shareholders holding not less than 90% of the face value of the equity share of transferor company (excluding the shares held by the transferee company), become the equity shareholder of the transferee company by virtue of the amalgamation. The consideration for the amalgamation, receivable by those equity shareholders of the transferor company who agree to become the equity shareholder in the transferee company, is discharged wholly by issue of shares (except for fractional shares that may be settled in cash). The business of the transferor company is intended to be carried on by the transferee company. Acquisition is the mechanism by which companies change hands and through transfer of ownership of share or transfer of control. Acquisition means the purchase of or getting access to significant stakes in a company, often making such acquirer a major shareholder or force in the company. According to Dictionary of Financial Term  [4]  Ãƒ ¢Ã¢â€š ¬Ã‹Å"If a company buys another company outright, or accumulates enough shares to take a controlling interest, the deal is described as an acquisition.à ¢Ã¢â€š ¬Ã¢â€ž ¢ For example, if Corporation A buys 51% or more of Corporation B, then Corporation B becomes a subsidiary of Corporation A, and the activity is called an acquisition. A single investor may buy out a publicly-traded company; one calls this going private. Acquisitions occur in exchange for cash, stock, or both. Acquisitions may be friendly or hostile; a friendly acquisition occurs when the board of directors supports the acquisition and a hostile acquisition occurs when it does not. 2.1.2 The Acquisition and Takeover Code in India After the advent of the SEBI, introduced in 1994, there was a concerted attempt at formulation of a comprehensive framework under which acquisition and takeover could be made in existing listed companies. However the takeover code does not apply to unlisted companies and continue to be regulated by the provision of the Company Act. Listed companies are currently governed by the provision of Takeover Code, clause 40A and 40B of the Listing Agreement of the stock exchange and Section 108B and 108D of the Companies Act as regards acquisition and takeovers. Under the provision of Section 108B, corporate under the same management holding whether singly or in aggrete.10% or more of the nominal value of the subscribed equity share capital of the any other company shall, before transferring one or more such shares, give to the central government an intimation of its proposal to do with the prescribed details. Section 108D provides the similar provision wherein the Central Government can act suo moto of any transfer of a block share in a company. All the Sections under 108 are backed by Section 108G. Section 108G Applicability of the provisions of sections 108A to 108F.à ¢Ã¢â€š ¬Ã¢â‚¬ The provisions of sections 108A to 108F (both inclusive) shall apply to the acquisition or transfer of shares or share capital by or to, an individual firm, group, constituent of a group, body corporate or bodies corporate under the same management, who or whichà ¢Ã¢â€š ¬Ã¢â‚¬  (a) is, in case of acquisition of shares or share capital, the owner in relation to a dominant undertaking and there would be, as a result of such acquisition, any increaseà ¢Ã¢â€š ¬Ã¢â‚¬ Ãƒâ€š (i) in the production, supply, distribution or control of any goods that are produced, supplied, distributed or controlled in India or any substantial part thereof by that dominant undertaking, or (ii) in the provision or control of any services that are rendered in India or any substantial part th ereof by that dominant undertaking; or (b) would be, as a result of such acquisition or transfer of shares or share capital, the owner of a dominant undertaking; or (c) is, in case of transfer of shares or share capital, the owner in relation to a dominant undertaking. The SEBI Takeover Code brought in several new features into acquisition law which were not present in Clause 40A and 40B. The basic theme of the code is to provide for fair play and transparency in acquisition and takeover but at the same time to ensure that they are not stifled into extinction. 2.2 Differentiation of Merger and Acquisition In general Mergers and Acquisitions are used interchangeably, but they have a subtle differentiation in there meaning. Weston and Copeland (1992) distinguished merger and acquisition: merger as a transaction between more or less equal partners, while acquisitions are used to denote a transaction where a substantially bigger firm takes over a smaller firm. Their basis of distinguish was the size. But there are other factors apart from size that denotes the differences between merger and acquisition. Asquith Mullins (1986) define mergers and acquisitions on basis of share distribution. When two firms merge, shares of both are surrendered and new shares in name of the new firm will be issued. Unlike in merger, shares of the acquiring firm are not surrendered but traded in the market prior to the acquisition and continue to be traded by the public after the acquisition. The shares of the target firm cease to exist publicly. Motives behind Merger and Acquisition There are three major motives for the mergers and takeovers: Synergy, Agency, Hubris Synergy motive means that the sum total return/value from the integration of two or more companies should be greater than that from the individual company. Elazar Berkovitch (1993) suggests that the takeovers occur because of economic gains that results by merging the resources of the two firms. They even concluded that total gains from MA are always positive and thus can say that synergy appears. The agency motive suggests that takeovers occur because they enhance the acquirer managementà ¢Ã¢â€š ¬Ã¢â€ž ¢s welfare at the expense of acquirer shareholders. Elazar Berkovitch and M. P. Narayanan (1993) suggested three major motives for mergers and acquisitions: synergy, agency and hubris. The synergy motive suggests that the takeovers occur because of economic gains that results by merging the resources of the two firms. The agency motive suggests that takeovers occur because they enhance the acquirer managementà ¢Ã¢â€š ¬Ã¢â€ž ¢s welfare at the expense of acquirer shareholders. The hubris hypothesis suggests that managers make mistakes in evaluating target firms, and engaged in acquisitions even when there is no synergy. Khemani (1991) states that there are multiple reasons, motives, economic forces and institutional factors that can be taken together or in isolation, which influence corporate decisions to engage in MAs. It can be assumed that these reasons and motivations have enhanced corporate profitability as the ultimate, long-term objective. It seems reasonable to assume that, even if this is not always the case, the ultimate concern of corporate managers who make acquisitions, regardless of their motives at the outset, is increasing long-term profit. However, this is affected by so many other factors that it can become very difficult to make isolated statistical measurements of the effect of MAà ¢Ã¢â€š ¬Ã¢â€ž ¢s on profit. The free cash flow theory develo ped by Jensen (1988) provides a good example of intermediate objectives that can lead to greater profitability in the long run. This theory assumes that corporate shareholders do not necessarily share the same objectives as the managers. The conflicts between these differing objectives may well intensify when corporations are profitable enough to generate free cash flow, i.e., profit that cannot be profitably re-invested in the corporations. Under these circumstances, the corporations may decide to make acquisitions in order to use these liquidities. It is therefore higher debt levels that induce managers to take new measures to increase the efficiency of corporate operations. According to Jensen, long-term profit comes from the re-organization and restructuring made necessary by takeovers.

Sexual Assault in College-age Women - Free Essay Example

Sample details Pages: 2 Words: 502 Downloads: 4 Date added: 2019/02/20 Category Law Essay Level High school Tags: Sexual Assault On College Campuses Essay Did you like this example? Sexual assault on college campus’ is becoming more frequent with 15% of women attending college facing some sort of sexual assault every year (Wood, Stichman 1). Rape culture is becoming a increasingly talked about topic in young adult audiences, with more mental health resources becoming available and pushes for women to involve the criminal justice system to report their assaults. With these advancements taken in consideration, why do so many cases of sexual assault still go unreported and how do universities reduce it from happening all together? The threat of sexual assault is a constant fear for most women, especially in college age populations. Don’t waste time! Our writers will create an original "Sexual Assault in College-age Women" essay for you Create order According to Rape, Abuse and Incest National Network, â€Å"310 out of every 1,000 rapes are reported to the police and that college-aged women have the lowest reporting rate†. Universities and police alike need to create an encouraging environment, access to counseling, and trauma-sensitive training that allows victims to feel comfortable in reporting these attacks. Reporting sexual assault immediately following an attack is incredibly difficult for survivors, especially for women seeking legal action and reporting their assault to the authorities. These women are all too commonly met with disbelief, judgment, and a poor understanding of the psychological trauma associated. This is more common among college aged women, as most of them are often exposed to sexual assault in varying degrees and have witnessed people brush it under the rug or ignore it . Often times younger women are seen as fabulists in the eyes of the law, with a focus on crimes of sexual assault. Women in college aren’t taken seriously and constantly seen as being childish or dramatic. This furthers a younger woman’s reluctance to involve police, instilling a fear that is grounded in concerns about not being taken seriously, blamed, or embarrassed. As a community, our understanding and treatment of sexual assault is dim and bleak. Even more so for those that directly fall on the path of a victim seeking litigation, such as law enforcement. With further sensitivity training and education that discourages placing blame on the victims, and an attitude that makes these women feel as though their story is important and should be given careful attention and due process, the percentage of sexual assaults going unreported will decrease. Universities are expanding their resources to encourage victims of sexual assault to come forward and report their assaults, but the availability of these resources for sexual assault prevention, reporting, and treatment on college campuses does not mean that they are adequate or sufficient. Problems may arise when university therapists and counselors harbor gender biases, buy into rape myths, or are unprepared to be sympathetic and understanding to the trauma that sexual assault victims are experiencing. Colleges need to focus on how they can provide an environment that facilitates an understanding and supportive atmosphere. Gathering information related to help-seeking behaviors can lead to campus policies in regard to encouraging victims to report their experiences and seek medical and emotional assistance, as well as aid in the development of prevention policies.

Analysis of Why I Love My Strict Chineses Mom - 865 Words

The correct way of raising a child? Sophia Chua-Rubenfeld’s essay â€Å"Why I love my strict Chinese mom† is a response to the all the negative feedback her mother had gotten for her essay â€Å"Why Chinese Mothers are Superior†. The intention of this essay is to persuade and inform the reader of why Amy Chua raised her daughter Sophia the correct way. Chua-Rubenfeld’s first argument is that the critics (the outsider) have no clue of what the Chua-Rubenfeld family is like (p. 2, l. 21). The fact that Chua-Rubenfeld is stating that â€Å"you don’t know what you’re talking about, because you don’t know me and/or my family† makes this a classical argument, which in reality is no valid argument. However, her main claim throughout the essay is supported by†¦show more content†¦He clearly states that the important part of educating is helping the child in becoming better at what the child is good at. He supports his claim by using a lot of topological features. In the beginning of the article he incorporates a story about Nijinsky to demonstrate his point: The world will not develop geniuses if it does not spot and utilize the child’s talent. By incorporating a famous ballet dancer he engages the reader because the reader can hardly disagree onShow MoreRelatedTwo Kinds by Amy Tan Essay1820 Words   |  8 Pagesas talented or as more talented than Americans. I. Literary Approach Biographical and Marxist/Sociological Approaches are the most appropriate tools to better understand the story. As aforementioned, Amy Tans life is very similar with that of Jing-meis. Tan was born in Oakland, California to parents who immigrated to the United States from China. Thus, this made Tans growing up stage difficult especially with the relationship with her mom. 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Comparison between Characters of Frankenstein Essay

Comparison between Characters of Frankenstein In Frankenstein, Mary Shelley combines three separate stories involving three different characters--Walton, Victor, and Frankensteins monster. Though the reader is hearing the stories through Waltons perspective, Walton strives for accuracy in relating the details, as he says, I have resolved every night,...to record, as nearly as possible in his [Victors] own words, what he has related during the day (Shelley 37). Shelleys shift in point of view allows for direct comparison and contrast between the characters, as the reader hears their stories through the use of first person. As the reader compares the monsters circumstances to those of Victor and Walton, the readers†¦show more content†¦Thus, Walton chose to suffer, rather than head back home. Because these characters had choices, the readers sympathy for them decreases. The monster, however, had no control over his misfortunes. He was brought into the world with no one to give him knowledge, support, and guidance. He was completely deserted by his creator. When he tried to make friends, everyone either ran away from him or tried to kill him. When he saved a little girl from drowning, he was shot. He provided firewood daily for the De Lacey family, and they regarded him as good spirit, wonderful (Shelley 102). Yet when they saw this good spirit, they deserted their house and the monster and never came back. The being was given no choices regarding these incidents. His rejection and misfortune was not caused by his actions, but rather his appearance, a physical trait that he cannot change. The monsters problem is that he is ugly--deformed. He did not choose to be physically deformed. He was created that way by Victor. Thus, Victor is ultimately responsible for the beings rejection. 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This manifests predominantly as the old traditionalRead MoreFrankestein 1818 vs 1831 Edition1084 Words   |  5 PagesFrankenstein Final Essay BY mp 927 Words Mrs. Mary Shelley 118 Maple Street Dover, Kent 1453 Dear Mrs. Shelley: Congratulations on the success of your first published novel, Frankenstein. Indeed you have entranced many readers by the horrific story you have created. Although the publication of the 1818 edition of the novel was successful, we the people at Universal Publishing feel the your latest 1831 edition will increase the novels‘ appreciation. In fact, the 1831 edition of FrankensteinRead MoreAnalysis Of Mary Shelley s Frankenstein 1402 Words   |  6 PagesOne of the greatest pieces of literature during the Romantic Period is the novel, Frankenstein. This intelligent work of art was written by Mary Shelley. Shelley was born in London on August 30th, 1797 and died on February 1, 1851. People from all around the world have heard about the monster created by the one and only Victor Frankenstein; also known as the world’s maddest scientist that has ever lived in the fictional world. As many people do not know, Mary Shelley subtitled her book â€Å"Or, The ModernRead MoreIs Fr ankenstein the Modern Day Prometheus?1302 Words   |  6 Pageshead: IS FRANKENSTEIN THE MODERN DAY PROMETHEUS? Is Frankenstein the modern day Prometheus? Irvin M. Beacham Jr. ENC 1101 Dr. Gaspar Is Frankenstein the modern day Prometheus? When Mary Shelly wrote her 1818 classic Frankenstein, she subtitled it â€Å"The Modern Prometheus.† She compared the character of Dr. Victor Frankenstein a highly intelligent scientist to the Greek Titan Prometheus the wisest of the Titans. There are numerous parallels between Dr.Read More Narrative Voices in Shelleys Frankenstein and Fathers and Sons by Ivan Turgenev1523 Words   |  7 PagesNarrative Voices in Shelleys Frankenstein and Fathers and Sons by Ivan Turgenev I have chosen to compare the narrative voices of Frankenstein and Fathers and Sons, as the perspectives in these two novels differ from one another. Frankenstein’s narrative voice contains tales of three characters within one narrative, none belonging directly to the author, whereas the narrative voice of Fathers and Sons, is that of the author alone. Examples I will be using are taken from ‘The RealistRead MoreAnalysis Of Mary Shelley s Frankenstein And Caleb Williams 1168 Words   |  5 PagesIn A.D Harvey’s article â€Å"Frankenstein and Caleb Williams,† he explains that Mary Shelley’s famous work, Frankenstein; was not intended to be of any actual scientific evidence, but rather written just only with the intention of a gothic horror piece â€Å"we will each write a ghost story† (Frankenstein Author’s introduction vii). Harvey’s target is to reach out to the science community and to sway them to look past the mechanics of how Frankenstein’s monster is created and focus on other points of interestRead MoreBiblical Analysis Of Mary Shelley s Frankenstein 1376 Words   |  6 Pages16 November 2015 Biblical Analysis: Frankenstein Frankenstein by Mary Shelley often refers to the bible on a number of occasions. However, it is worth noting that many references used by Mary Shelley in Frankenstein can often be identified in Genesis. Much like Genesis, the story of Frankenstein is a viable creation story. The book of Genesis first explains the creation of man and woman, and also recounts the fall of humanity. Unlike Genesis, Frankenstein begins with the fall of humanity, leading

Analysis Of Tartuffe And Punishment By...

Throughout the times of the late 1600’s all the way up to the 1900’s, we have seen many ways how genders have been viewed towards the eyes of society. From taking care of their families to actually working, males and females had different gender statuses in the things they did and participated in. The different roles, perceptions and misperceptions that each gender role-played had a big influence in structuring a particular society and managing how things were being run. In the short play Tartuffe, by Jean-Baptiste Moliere and â€Å"Punishment†, by Rabindranath Tagore, we really see how males and females were distinguished; and how each of them were viewed, treated and played into a particular society. Orgon and Mariane from Jean-Baptiste Moliere and Dukhiram and Radha from Punishment are characters that played tremendous roles in their parts, which really showed the perception of the power of the man and the lack of respect a female had during those times. The s hort play Tartuffe is a play filled with lots of drama, which consists many arguments and disputes between the characters about many different scenarios. Gender Roles had a significant correlation between how the male and female characters were represented and viewed, especially Orgon and Mariane. By looking at the perceptions of each character you really see how both of them were viewed and represented during the times of the 1600’s. Mariane is the daughter of Orgon, who is a very nice girl that is looking to marry

Welfare and Drug Testing Free Essays

The welfare program was designed to be a temporary solution to help families in need to get back on their feet, and meet their basic needs. It Is estimated that 50 to 80 percent of family based services involve drugs or alcohol abuse (Chug 2001). Some advantages of mandatory drug testing for welfare recipients are that it fosters self-reliance, averts abuse of the welfare system, gives people an opportunity to receive treatment, and ensures correct allocation of tax dollars. We will write a custom essay sample on Welfare and Drug Testing or any similar topic only for you Order Now So why not drug test the recipients before a person an get qualified for services? Drug abuse has been a problem in the United States for a very long time. In the beginning before there were regulations narcotics were freely used In elixirs and other medical and homemade remedies. It was not until the effects of these drugs were known, and the damage was already done that government regulations were put into place. It has been determined that the use of drugs has been the main cause of most crimes in the United States. Statistically it has been shown that nearly half of the current inmate population has some history of drug abuse. It has been brought to the attention of legislators that there is a drug abuse problem within the welfare system. When the welfare reform act of 1996 was passed there was a provision stated to allow drug testing on an as needed basis. This protocol has not been widely used, and seems to have been forgotten, until now that is. The government has identified a problem within the welfare system, and would like to recoup some of the losses, and also help some of the individuals that do have a problem. Welfare was meant to be a temporary fix† to help a person get back on their feet. If a drug problem Is present, a person will tend to stay on the system, not be employable, and use the benefits for which they were not Intended. To get this issue in check law makers would like to see people be drug tested before being approved for benefits, and periodic random tests while they are receiving them as well. There are also provisions for persons who have a drug problem to receive the treatment they need. This pale chart represents the results off poll Fox News did In 2010. The question was, â€Å"Do you Delves welfare recipients snouts De Aragua tested There are many different types of tests used to detect drugs in a person’s yester. The type of testing used will be determined on the types of drugs being tested for and the cost effectiveness and time allotment. Some states are proposing the individual will pay for the testing, but will be reimbursed once the results come back negative. Other states are proposing the amount of money they will save by cutting back on benefit fraud will be more than enough to cover the costs of testing. The most cost effective and time efficient method of testing is urinalysis. This test can be administered in an office setting and the results are available immediately. The only down fall to this test is it can be beat by taking herbal supplements that are made to mask the drug. It is also not accurate in testing for substances like cocaine and alcohol as they are not testable in the urine after 3 days. Hair testing is another option. This test is administered in a clinical setting, and requires small amounts of hair taken from different areas of the head. One inch of hair gives the clinician sixty days of history, and cannot be faked. Blood tests also require a clinical setting and a laboratory to read the results. With the last two options of testing turnaround time an be days, weeks, or months, and can be quite expensive. There are already a few states such as Michigan, Florida, and New Hampshire that have this protocol in place. The strongest argument for the testing of individuals is having such a program in place will help reduce the miss use and miss appropriation of taxpayer’s monies. Governor Rick Scott, R Florida, states † It’s not right for taxpayer money to be paying for somebody’s drug addiction, On top of that, this is going to increase personal responsibility, personal accountability. We shouldn’t be subsidizing people’s addiction. (Scott, 2011). The state of Florida approved this bill that took effect July 1, 2011. Governor Scott also stated â€Å"It’s the right thing for taxpayers,† Scott said after signing the measure. â€Å"It’s the right thing for citizens of this state that need public assistance. We don’t want to waste tax dollars. And also, we want to give people an incentive to not use drugs. † (Scott, 2011) It is perceived it would help reduce domestic violence and other drug related crimes. Individuals would also receive intervention and care they might not normally have access to without this program. If an individual were to fail a drug test they would be given the option to enter a state treatment program. If the person was to refuse treatment or have a second offense after completing the treatment they would lose their benefits for a period of one year. As with all new laws trying to be passed there are also those who are against it. Opponents of drug testing believe that it is violating the constitutional protections in the Fourth Amendment. The Fourth Amendment to the U. S Constitution states, the right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated. Columnist William Safari in The New York Times writes, Not only is my home my castle, my body is my citadel. Unless I give you a probable cause to suspect me of a crime, what goes on in my home and body and mind is my business Robin Merrill of Maine Equal Justice, which provides legal services for the poor states, â€Å"Random drug testing is very questionable legally with respect to constitutional issues. If the government has the right to drug- test people based on receipt of aid from public assistance programs, what is to stop en government Trot requiring Aragua testing Tort anyone won receives a student loan or any other government benefit? This law would create a very slippery slope with respect to infringement on people’s right to privacy. † Another point in question is will this really save the tax payers any money? How much will the added administrative personal and the testing itself cost? The Miami Herald reports that the savings in Florida could reach one hundred thousand dollars, but no reports of administrative costs have been reported. Adversaries also raise the question about discrimination and alienation. They believe that singling out individuals because of their financial status could be disastrous and have negative effects. Cutting off families benefits because of the actions of an individual could do more harm than good. Just because an individual has a substance abuse problem, how can you prove they are not using their benefits appropriately? (Dona 2005) Whether you are in favor or opposed to welfare recipients being drug tested, the issue is one that most people will encounter on Election Day. People who are in favor say testing will allow people to get help that otherwise would fall through the cracks. It would also raise the UN employment rate by allowing those individuals to become better qualified to obtain and keep Jobs. 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Diploma of Nursing for Accountability - myassignmenthelp.com

Question: Discuss about theDiploma of Nursing for Responsibility andAccountability. Answer: Scenario In the given context, the nurse failed to act in compliance with the established professional code of conduct. She did not act within the scope of practice and even failed to use critical thinking and analysis skills effectively, as she did not resorted to perform her duties ethically and reflectively as stated in the professional code of conduct for nurses. She has been found to deviate from her ethical virtues, as she did not seek any approval from any medical personnel prior to administration of the prescription only drugs to the patient. She did not even conform to the informed decision making principles. She even made false entries pertaining with the medical records of the patient that may be considered as a gross violation of the professional code of conduct. Therefore, it is evident that ethical management of data and culture of safety was compromised immensely in this particular situation. In todays times, contemporary nursing practice is emphasized for the nurses to abide by the nursing standards comprising of the laws, procedures and policies so that optimal healthcare delivery may be streamlined. However, as per the given scenario the nurse made serious deviations of these standards. Lack of responsibility and accountability for her actions was evident. She failed to collaborate and communicate with her colleagues and seniors in the healthcare team in course of planning suitable care for the patient. Information and reporting of care services to the appropriate authority was also missing in this case that further implied deviations from the safety and quality guidelines as laid out by concerned bodies, threatening the lives of the healthcare service recipients. Nursing practice is governed by certain legislations and professional regulations that may be further evaluated in the given context. Health Practitioner Regulation National Law Act 2009 advocates for a national registration and accreditation scheme targeted to the health practitioners. Further, as per the professional standards, the nurses are to communicate and use documentation for the purpose of informing and reporting care. This standard was not followed in the given case as the nurse knowingly administered prescription only drug to the patient without properly communicating with the persons in authority. Further, the nurse made false entries thereby delineating from the virtue of accurately documenting the health-related data of patient. In order to prevent future such incidents, the nurse must go through certain types of professional development. Understanding about the professional standards and professional boundaries is essential on her part to avoid repetition of similar mistakes. Training has the potential to inform her about such necessities in addition to warning about the consequences that might follow due to breach of the established codes of practice and legislations. Value of correctly documenting the medical records must also be directed for her in addition to disseminating knowledge regarding administration of medications after formal approval and consent from the competent authority, through abidance with Registration Standard in Continuous Professional Development. A number of gross violations and breach of professional standards and ethical guidelines occurred in the given case that might have had serious repercussions due to posing of serious threat to the quality of healthcare delivered. First unauthorized administration of medications on the part of the nurse has challenged the health-related outcomes in the patient. Serious adverse outcomes might have taken place due to lack of medical supervision in advocating drugs unlawfully. Further, tampering of medical record may be stated as a serious offence in which the health of the patient may be severely threatened. Lack of knowledge on the part of the medical practitioner about the tampering of medical record might culminate in preparing a faulty treatment plan that in turn might jeopardize the purpose of provision of safe and quality healthcare service to the distressed patient. However, reflective practice may be promoted through continuous professional development as offered through clinica l placement setting in addition to arranging for proper training for the nursing practitioners. HLTEN514B Article The purpose of the study was to examine the association between critical thinking and confidence in decision-making among new graduate nurses through utilization of correlational methods. The sampling size for the study was chosen as 83. Chosen population for the research was new graduate nurses hailing from 11 different universities and entering into two areas of health services in Australia, one belonging to the major metropolitan area and another comprising of major area health service who demonstrated a wide array of undergraduate preparation. SPSS software was utilized for data analysis whereby descriptive statistics was performed for the demographic as well as raw data. Frequency distributions were plotted for critical thinking ability (WGCTA) scores and confidence in decision-making ability scores alongside computation of mean and standard deviation for these two parameters. Association between critical thinking scores and confidence in decision-making scores was adjudged through correlation analysis. The study has used the correlational research design. Data collection meant for the study has utilized two different instruments, both of which were essentially demographic questionnaire. One tool used for the study was the Watson and Glaser Critical Thinking Assessment tool, while the other was the Confidence in decision-making scale. As part of the research process, consent was sought from the participants to conduct the study, prior to completion of the questionnaire that consisted of demographic information in one and questions targeted to nursing practice that held potential of the nurses perceptions about themselves. Purpose of the research alongside provision of support as and when required was rendered to the participants. Precautions were taken to maintain the confidentiality of data and all data retrieved was saved as anonymous and participants had the liberty of withdrawing from the study as per their discretion without providing any justification. The different tools used for the study are the Watson and Glaser Critical Thinking Assessment tool and the Confidence in decision-making scale. The study being conducted at two areas of health service makes it difficult for generalizing the interpretations to other settings. Moreover, selection of convenience sampling for the study might affect the study outcomes. Clinical implications for the study may be cited as: Necessity for professional development courses Enhancement in nursing awareness to understand better the significance of nursing culture Improvement in open questioning attitude for fostering decision-making in healthcare service for the patients