Minor capacity judgement Essay Example for Free

Minor capacity judgement Essay Mohori Bibee and another Vs. Dharmodas Ghose Mohori Bibee and another Vs. Dharmodas Ghose Options Dock Print PDF Court :  Kolkata Reported in :  (1903)30IndianAppeals114 Judge :  Lord Macnaghten; Lord Davey; Lord Lindley; Sir Ford North; Sir Andrew Scoble; Sir Andrew Wilson, JJ. Decided On :  Mar-04-1903 Acts :  Indian Evidence Act, 1877 Section 115; Indian Contract Act Sections 41, 19, 64, 65 Appellant :  Mohori Bibee and another Respondent :  Dharmodas Ghose Advocate for Respondent :  W. W. Box, Adv. Advocate for Appellant :  Watkins; Lempriere, Advs. Judgment: SIR FORD NORTH, J. On July 20, 1895, the respondent, Dhurmodas Ghose, executed a mortgage in favour of Brahmo Dutt, a money-lender carrying on business at Calcutta and elsewhere, to secure the repayment of Rs. 20,000 at 12 per cent. interest on some houses belonging to the respondent. The amount actually advanced is in dispute. At that time the respondent was an infant; and he did not attain twenty-one until the month of September following. Throughout the transaction Brahmo Dutt was absent from Calcutta, and the whole business was carried through for him by his attorney, Kedar Nath Mitter, the money being found by Dedraj, the local manager of Brahmo Dutt. While considering the proposed advance, Kedar Nath received information that the respondent was still a minor; and on July 15, 1895, the following letter was written and sent to him by Bhupendra Nath Bose, an attorney:— â€Å"Dear Sir,—I am instructed by S. M. Jogendranundinee Dasi, the mother and guardian appointed by the High Court under its letters patent of the person and property of Babu Dhurmodas Ghose, that a mortgage of the properties of the said Babu Dhurmodas Ghose is being prepared from your office. I am instructed to give you notice, which I hereby do, that the said Babu Dhurmodas Ghose is still an infant under the age of twenty-one, and any one lending money to him will do so at his own risk and peril. † Kedar Nath positively denied the receipt of any such letter; but the Court of first instance and the Appellate Court both held that he did personally receive it on July 15; and the evidence is conclusive upon the point. On the day on which the mortgage was executed, Kedar Nath got the infant to sign a long declaration, which, he had prepared for him, containing a statement that he came of age on June 17; and that Babu Dedraj and Brahmo Dutt, relying on his assurance that he had attained his majority, had agreed to advance to him Rs. 0,000. There is conflicting evidence as to the time when and circumstances under which that declaration was obtained; but it is unnecessary to go into this, as both Courts below have held that Kedar Nath did not act upon, and was not misled by, that statement, and was fully aware at the time the mortgage was executed of the minority of the respondent. It may be added here that Kedar Nath was the attorney and agent of Brahmo Dutt, and says in his evidence that he got the declaration for the greater security of his â€Å"client. † The infant had not any separate legal adviser. On September 10, 1895, the infant, by his mother and guardian as next friend, commenced this action against Brahmo Dutt, stating that he was under age when he executed the mortgage, and praying for a declaration that it was void and inoperative, and should be delivered up to be cancelled. The defendant, Brahmo Dutt, put in a defence that the plaintiff was of full age when he executed the mortgage; that neither he nor Kedar Nath had any notice that the plaintiff was then an infant; that, even if he was a minor, the declaration as to his age was fraudulently made to deceive the defendant, and disentitled the plaintiff to any relief; and that in any case the Court should not grant the plaintiff any relief without making him repay the moneys advanced. By a further statement the defendant alleged that the plaintiff had ubsequently ratified the mortgage; but this case wholly failed, and is not the subject of appeal. Jenkins J. , who presided in the Court of first instance, found the facts as above stated, and granted the relief asked. And the Appellate Court dismissed the appeal from him. Subsequently to the institution of the present appeal Brahmo Dutt died, and this appeal has been prosecuted by his executors. The first of the appellants reasons in support of the present appeal is that the Courts below were wrong in holding that the knowledge of Kedar Nath must be imputed to the defendant. In their Lordships opinion they were obviously right. The defendant was absent from Calcutta, and personally did not take any part in the transaction. It was entirely in charge of Kedar Nath, whose full authority to act as he did is not disputed. He stood in the place of the defendant for the purposes of this mortgage; and his acts and knowledge were the acts and knowledge of his principal. It was contended that Dedraj, the defendants gomastha, was the real representative in Calcutta of the defendant, and that he had no knowledge of the plaintiffs minority. But there is nothing in this. He no doubt made the advance out of the defendants funds. But he says in his evidence that â€Å"Kedar Babu was acting on behalf of my master from the beginning in this matter†; and a little further on he adds that before the registration of the mortgage he did not communicate with his master on the subject of the minority. But he did know that there was a question raised as to the plaintiffs age; and he says, â€Å"I left all matters regarding the minority in the hands of Kedar Babu. † The appellants counsel contended that the plaintiff is estopped by s. 115 of the Indian Evidence Act (I. f 1872) from setting up that he was an infant when he executed the mortgage. The section is as follows: â€Å"Estoppel. When one person has by his declaration act or omission intentionally caused or permitted another person to believe a thing to be true, and to act upon such belief, neither he nor his representative shall be allowed in any suit or proceeding between himself and such person or his representative to deny the truth of that thing. † The Courts below seem to have decided that this section does not apply to infants; but their Lordships do not think it necessary to deal with that question now. They consider it clear that the section does not apply to a case like the present, where the statement relied upon is made to a person who knows the real facts and is not misled by the untrue statement. There can be no estoppel where the truth of the matter is known to both parties, and their Lordships hold, in accordance with English authorities, that a false representation, made to a person who knows it to be false, is not such a fraud as to take away the privilege of infancy: Nelson v. Stocker. 0 The same principle is recognised in the explanation to s. 19 of the Indian Contract Act, in which it is said that a fraud or misrepresentation which did not cause the consent to a contract of the party on whom such fraud was practised, or to whom such misrepresentation was made, does not render a contract voidable. The point most pressed, however, on behalf of the appellants was that the Courts ought not to have decreed in the respondents favour without ordering him to repay to the appell ants the sum of Rs. 0,500, said to have been paid to him as part of the consideration for the mortgage. And in support of this contention s. 64 of the Contract Act (IX. of 1872) was relied on:— â€Å"Sect. 64. When a person at whose option a contract is voidable rescinds it, the other party thereto need not perform any promise therein contained of which he is promisor. The party rescinding a voidable contract shall, if he have received any benefit thereunder from another party to such contract, restore such benefit, so far as may be, to the person from whom it was received.    Both Courts below held that they were bound by authority to treat the contracts of infants as voidable only, and not void; but that this section only refers to contracts made by persons competent to contract, and therefore not to infants. The general current of decision in India certainly is that ever since the passing of the Indian Contract Act (IX, of 1872) the contracts of infants are voidable onl y. This conclusion, however, has not been arrived at without vigorous protests by various judges from time to time; nor indeed without decisions to the contrary effect. Under these circumstances, their Lordships consider themselves at liberty to act on their own view of the law as declared by the Contract Act, and they have thought it right to have the case reargued before them upon this point. They do not consider it necessary to examine in detail the numerous decisions above referred to, as in their opinion the whole question turns upon what is the true construction of the Contract Act itself. It is necessary, therefore, to consider carefully the terms of that Act; but before doing so it may be convenient to refer to the Transfer of Property Act (IV of 1882), s. of which provides that every person competent to contract and entitled to transferable property. . . . is competent to transfer such property. . . . in the circumstances, to the extent, and in the manner allowed and prescribed by any law for the time bring in force. That is the Act under which the present mortgage was made, and it is merely dealing with persons competent to contract; and s . 4 of that Act provides that the chapters and sections of that Act which relate to contracts are to be taken as part of the Indian Contract Act, 1872. The present case, therefore, falls within the provisions of the latter Act. Then, to turn to the Contract Act, s. 2 provides: (e) Every promise and every set of promises, forming the consideration for each other, is an agreement. (g) An agreement not enforceable by law is said to be void. (h) An agreement enforceable by law is a contract. (i) An agreement which is enforceable by law at the option of one or more of the parties thereto, but not at the option of the other or others, is a voidable contract. Sect. 0 provides: â€Å"All agreements are contracts if they are made by the free consent of parties competent to contract for a lawful consideration and with a lawful object, and are not hereby expressly declared to be void. † Then s. 11 is most important, as defining who are meant by â€Å"persons competent to contract†; it is as follows; â€Å"Every person is competent to contract who is of the age of majority according to the law to which he is subject, and who is o f sound mind, and is not disqualified from contracting by any law to which he is subject. † Looking at these sections, their Lordships are atisfied that the Act makes it essential that all contracting parties should be â€Å"competent to contract,† and expressly provides that a person who by reason of infancy is incompetent to contract cannot make a contract within the meaning of the Act. This is clearly borne out by later sections in the Act. Sect. 68 provides that, â€Å"If a person incapable of entering into a contract, or any one whom he is legally bound to support, is supplied by another person with necessaries suited to his condition in life, the person who has furnished such supplies is entitled to be reimbursed from the property of such incapable person. It is beyond question that an infant falls within the class of persons here referred to as incapable of entering into a contract; and it is clear from the Act that he is not to be liable even for necessaries, a nd that no demand in respect thereof is enforceable against him by law, though a statutory claim is created against his property. Under ss. 183 and 184 no person under the age of majority can employ or be an agent. Again, under ss. 47 and 248, although a person under majority may be admitted to the benefits of a partnership, he cannot be made personally liable for any of its obligations; although he may on attaining majority accept those obligations if he thinks fit to do so. The question whether a contract is void or voidable presupposes the existence of a contract within the meaning of the Act, and cannot arise in the case of an infant. Their Lordships are, therefore, of opinion that in the present case there is not any such voidable contract as is dealt with in s. 64. A new point was raised here by the appellants counsel, founded on s. 5 of the Contract Act, a section not referred to in the Courts below, or in the cases of the appellants or respondent. It is sufficient to say tha t this section, like s. 64. starts from the basis of there being an agreement or contract between competent parties, and has no application to a case in which there never was, and never could have been, any contract. It was further argued that the preamble of the Act shewed that the Act was only intended to define and amend certain parts of the law relating to contracts, and that contracts by infants were left outside the Act. If this were so, it does not appear how it would help the appellants. But in their Lordships opinion the Act, so far as it goes, is exhaustive and imperative, and does provide in clear language that an infant is not a person competent to bind himself by a contract of this description. Another enactment relied upon as a reason why the mortgage money should be returned is s. 41 of the Specific Relief Act (I. of 1877), which is as follows: â€Å"Sect. 41. On adjudging the cancellation of an instrument the Court may require the party to whom such relief is granted to make any compensation to the other which justice may require. Sect. 38 provides in similar terms for a case of rescission of a contract. These sections, no doubt, do give a discretion to the Court; but the Court of first instance, and subsequently the Appellate Court, in the exercise of such discretion, came to the conclusion that under the circumstances of this case justice did not require them to order the return by the r espondent of money advanced to him with full knowledge of his infancy, and their Lordships see no reason for interfering with the discretion so exercised. It was also contended that one who seeks equity must do equity. But this is the last point over again, and does not require further notice except by referring to a recent decision of the Court of Appeal in Thurstan v. Nottingham Permanent Benefit Building Society21, since affirmed by the House of Lords. 22 In that case a female infant obtained from the society of which she was a member part of the purchase-money of some property she purchased; and the society also agreed to make her advances to complete certain buildings thereon. They made the advances, and took from her a mortgage for the amount. On attaining twenty-one she brought the action to have the mortgage declared void under the Infants Relief Act. The Court held that, as regards the purchase-money paid to the vendor, the society was entitled to stand in his place and had a lien upon the property, but that the mortgage must be declared void, and that the society was not entitled to any repayment of the advances. Dealing with this part of their claim Romer L. J, says23: â€Å"The short answer is that a Court of Equity cannot say that it is equitable to compel a person to pay any moneys in respect of a transaction which as against that person the Legislature has declared to be void. So here. Their Lordships observe that the construction which they have put upon the Contract Act seems to be in accordance with the old Hindu Law as declared in the laws of Menu, ch. viii. 163; and Colebrookes Dig. liii. 2, vol. ii. p. 181; although there are no doubt, decisions of some weight that before the Indian Contract Act an infants contract was voidable only in accordance with English law as it then stood. The appeal, therefore, wholly fails; and their Lordships will humbly advise His Majesty that it should be dismissed. The appellants must pay the costs of the appeal.

San Vitale Church: Construction and Design

San Vitale Church: Construction and Design Byzantine Empire started when the Roman Emperor Constantine moved the capital of Roman Empire from Rome to Byzantium. Byzantine Architectures was very similar to Roman architecture, but got certain influences from Near East and used Greek cross plan in church architecture. When the Church of San Vitale was built, Ravenna was under the control of Byzantine Empire, which is why San Vitale would be similar to the Byzantine architectures instead of having the same plan as other churches in Ravenna. The construction of Church of San Vitale, dedicated by Bishop Maximian in 547, was begun long before Maximians arrival at Ravenna, even before the city was recaptured from the Goths in 540. Construction of this church began under Bishop Ecclesius after King Theodorics death in 526. The person who funded this great project was a certain Julianus called Argentarius ie a banker, not a bishop (Lowden, 127). He provided more than 26000 gold coins to proceed with the work. San Vitale was built in honor of Saint Vitalis, who was martyred at Ravenna in the second century (Kleiner, 316). The raison dà ªtre of the Church of San Vitale was to hold the relics of Saint Vitalis. Vitalis was not as famous or important as other famous saints, such as St Lawrence, thus originally there was only one small cross-shaped martyrium chapel built for him at Ravenna. But now a new church was constructed for him. There is no reason found to explain why his relics grew to the importance of requiring a magnif icent new church. But according to one legend, he was the father of Gervasius and Protasius, two important Milanese saints, and all three of them are martyred in this church. This might be the reason why a church was specially built for St Vitalis (Lowden, 127). Its design is different from the sixth-century churches in Ravenna and was considered to be unlike any churches in Italy. It is not a basilica, but a central-planned church similar to the Justinians churches in Constantinople. The Church of San Vitale is a central-domed octagon extended by semi-circular bays, surrounded by an ambulatory and gallery, all covered in vault. The main source of light comes from the clerestory and there are windows on the side walls, too. The regularity and angularity suggested by the exterior is different from the interior, which is dominated by curves. There are seven curving exedras on the sides of the central space which the double arcades will lead the eye up to vaulted semi-domes, arches, and thence to the central dome. The lower part of the church was originally reverted with colored marbles, which most of them were lost through out the ages, and now parts of them were restored. The presbytery (the part of a cathedral or church east of the choir, in which the main altar is situated) was also covered with marble and costly opus sectile in a geometric pattern. In the middle level, the presbytery was covered with mosaics. The mosaics that decorate San Vitales choir and apse like the building itself, must be regarded as among the most climactic achievements of Byzantine art (Kleiner, 316). But the original decorative scheme for the upper surface of the main body of the church remains unknown (Lowden, 127). The most famous parts of the Church of San Vitale are the mosaics. The imperial panels in the church of S. Vitale at Ravenna are perhaps the most famous of all Byzantine mosaics (Treadgold, 708). Two panels face each other, one on each side of the apes. The left one was covered with mosaic Emperor Justinian and his Attendants and the right one was cover with mosaic Empress Theodora and her Attendants. Both the emperor and empress can be identified by the imperial purple robs they wear and halos behind their heads. The attendants who accompany Justinian parallel Christs twelve apostles. Therefore, the mosaic serves both political and religious reasons of the emperor. In the mosaic, the positions of the figures are important. They express the ranking of all figures (Treadgold, 708). Justinian is at the center, wearing purple robe and with a halo in order to distinguish from other dignitaries. At his left is Bishop Maximianus, the man responsible for San Vitales completion. Although the emperor appears to be slightly behind Maximianus, the large golden paten he carries overlaps the bishops arm. This symbolized by place and gesture, the imperial and churchly powers are in balance (Kleiner, 317). In these mosaics, classical elements of art mostly disappeared. For example, no shadows are presented, faces of figures are more stylized, and there is little naturalism. There is no background indicated. In the mosaic Emperor Justinian and his Attendants, the artists wanted viewers to think the procession is taking place in San Vitale, thus the emperor would appear forever as a participant in this church, symbolizing that he will be the proprietor of this church and the ruler of the empire forever (Treadgold, 708). This one of the most important reasons why San Vitale was built: to glorify the Emperor Justinian and the whole empire under his rule. The opposite wall of the apse contains the mosaic that depicts Empress Theodora, who was considered to be one of the most remarkable women of the middle Ages (Kleiner, 317). Similar to her husband, she is accompanied by her retinue. She carries Chalice, the golden cup with the wine (symbol of Christs blood) while Justinian carries the paten containing the bread (symbol of Christs body). While most parts of the Theodora mosaic exhibit the same style as the Justinian mosaic, the women are shown within a background. It depicts the scene that Empress Theodora was waiting to follow emperors procession, which shows she was outside the sanctuary at that time. The fact that she is outside in the courtyard showed that her rank was not quite equal to her husband (Treadgold, 708). Even though Justinian and Theodoras mosaics are considered to be one of the most important and most famous mosaics inside the Church of San Vitale, Justinian and Theodora never actually came to Ravenna or participate in any events, which mean those two panels are not the historical record of San Vitale. (Lowden, 134). So those two panels are built in order to ensure Emperor Justinians rule over Ravenna and glorify the whole empire under the rule of Emperor Justinian and Empress Theodora. The Church of San Vitale is one of the most important architecture during Byzantine period. The plan of San Vitale is borrowed and used by constructions, such as the Palace Chapel of Charlemagne in Germany. All visitors would marvel at its intricate design and magnificent golden mosaics. But beauty is not everything San Vitale has; political and religious meanings also play a big role while Church of San Vitale is constructed. Work cited Kleiner, Fred. Gardners Art through the Ages: A Global History. Ohio: Wadsworth Publishing, 2009. Lowden, John. Early Christian Byzantine Art. London: Phaidon Press, 1997. Treadgold, Warren. Procopius and the Imperial Panels of San Vitale. The Art Bulletin. 79 (1997): 708-723 Lateral Line System in Fish: Structure and Function Lateral Line System in Fish: Structure and Function Introduction       The lateral line is a sensory system in fish and amphibians. It is made up of mechanoreceptors called neuromasts which are sensitive to water movement (Diaz et al. 2003). The lateral line system has an important role in the detection of stationary objects, navigation, prey detection, capture and in swimming in schools (Gelman et al. 2007). The receptor organ of the lateral line system is the neuromast. There are two types of neuromasts, canal neuromasts which are located in the intradermal canals, and the superficial neuromasts which are located in the intraepidermal canals. Canal neuromasts are able to detect water flow acceleration, while superficial or free neuromasts can detect velocity (Gelman et al. 2007). In some species like the American paddlefish (Polyodon spathula), the lateral line system has evolved into an electrosensory system (Modrell et al. 2011). This was accomplished by the specialization of hair cell receptors. These hair cell receptors in the lateral line system resemble the sensory hairs of insects. This may suggest that both derive from a common ancestral mechanosensory organ (Dambly-Chaudiere et al. 2003). This review paper will focus on the lateral line systems anatomy, function and its components. It will also consider the origin of the lateral line system, modifications of the lateral line and explore research gaps in the literature. Origin of the Lateral Line System A study undertaken by Robert H. Denison explained the origin of the lateral line system. The author explained that early vertebrates had a pore-canal system in the dermis which functioned as a primitive sensory system detecting water movement. Through embryology and comparative anatomy, it has been established that the inner ear is closely related to the lateral line system (Denison 1966). The inner ear and the lateral line are developed from ectodermal thickenings, called dorso-lateral placodes. These have a number of similarities, including receptors with sensory hairs, and are both innervated by fibers in the acoustico-lateral area of the brain (Denison 1966). Early vertebrate fossils revealed that the pore canal system which consists of canals that lie below the dermis, and pore canals which connect the canals that lie below the dermis to the surface. The pore canal system is present and developed in Osteostraci which is a group of ostracoderms. It is present in Heterostraci which is another group of ostracoderms and includes early vertebrates such as lungfishes and crossopterygians. As its presence is extensive, it is reasonable to suggest that the pore canal system was a primitive character in early vertebrates (Denison 1966). The author states that this relationship between the pore canal system and the lateral line was first recognized in Osteotraci. In transverse sections, canals that are located below the dermis in the pore canal system are difficult to be distinguished from a lateral line canal (Figure 1). Both of these canals have a narrow opening and a basal part which is separated by a horizontal septum into an outer part that is filled with mucus, and an inner part which consists of sensory cells and nerves (Denison 1966). Figure 1. The figure shows a transverse section of an ostcostracan. This depicts the similar structure of the lateral line canal (IOC) and a canal of the pore canal system (P). BL represents the basal layer, C is the canal which connects the mesh canal with the vascular canal. ML represents the middle layer, RC the vascular canal, SL the superficial layer and X represents the septum that separates the lateral line canal (Denison 1966). As the structure between these two systems is similar the author determined that the lateral line was derived from pore a canal system, and then became a specialized part of it and later remained there (Denison 1966). Structure of the Lateral Line System Organization of the Lateral Line The lateral line, consists of a row of small pores which lead into the underlying lateral line canal. In the head, the lateral line canal is separated into three canals, one passes forward and above the eye, another forward and below the eye and the other downward and below the jaw (Figure 2) (Parker 1904). These three canals have numerous pores and together with the lateral line canal, make the lateral line system. Epidermal structures called neuromasts form the peripheral area of the lateral line. Neuromasts consist of two types of cells, hair cells and supporting cells. Hair cells have an epidermal origin and each hair cell has one high kynocyle (5-10 ÃŽÂ ¼m) and 30 to 150 short stereocilia (2-3 ÃŽÂ ¼m). The number of hair cells in each neuromast depends on its size, and they can range from dozens to thousands. Hair cells can be oriented in two opposite directions with each hair cell surrounded by supporting cells. At the basal part of each hair cell, there are synaptic contacts with afferent and efferent nerve fibers. Afferent fibers, transmit signals to the neural centres of the lateral line and expand at the neuromast base. The regulation of hair cells is achieved by the action of efferent fibers (Jakubowski 1967). Figure 2. Diagram of the lateral line system. The lateral line canal is divided into 3 stems, one passes forward and above the eye, another forward and below the eye and the other downward and below the jaw. Black dots represent the location of the neuromasts on the skin surface. White dots on the brown line show the positions of the neuromasts in sub-epidermal lateral line canals (Yang et al. 2010). Stereocilia and kinocilium of hair cells are immersed into a cupula and are located above the surface of the sensory epithelium. The cupula is created by a gel-like media, which is secreted by non-receptor cells of the neuromast (Figure 3). There are two types of neuromasts, superficial or free neuromasts and canal neuromasts. Superficial neuromasts are located at the surface of the body and are affected by the environment. Superficial neuromasts are categorized into primary or paedomorphic neuromasts and secondary or neomorphic neuromasts. Canal neuromasts are primary neuromasts. These are found inside epidermal or bony canals and are located on the head or body of the fish (Coombs et al. 1992). Figure 3. Lateral line of fish. (a) The figure shows the basic structure of neuromasts and all its components. (b) Hair cell, depicting the innervation of afferent and efferent fibers (Dambly-Chaudiere et al. 2003). Superficial and Canal Neuromasts Superficial neuromasts are small and can be found in lampreys, teleost fishes and in some bony fishes. Superficial neuromasts are located on the head and the body and in some fish in the caudal fin (Cernuda et al. 1996). They have a cylindrical cupula and a round base with a diameter that can seldom reach 100 ÃŽÂ ¼km. The number of hair cells is small, from several dozens to several hundred (Cernuda et al. 1996). In canal neuromasts, the sensory area is situated at the bottom of the canal below the skin. Canal neuromasts have a large range in size, shape and orientation within the canal. Some species have narrow canals and the neuromast can be found in a local constriction with the long axis running parallel to the canal axis. Some other fishes have neuromasts which are found in wide canals and have a different shape. Canal neuromasts allow the efficient detection of pressure differentials, which are created by the current movement across the canal pores (Cernuda et al. 1996). Lateral Line System Function The lateral line system has often been described as touch at a distance. This is due to the lateral line function being similar to the senses of touch and hearing (Coombs et al. 2006). The earliest hypothesis about the function of the lateral line was that it secretes mucus to cover the body. Several years later, it was determined that the lateral line is used to detect water current and stimuli from moving objects (Bleckmann et al. 1993). Fish can sense water movements ranging from large-scale currents to small disturbances caused by plankton. This is due to the superficial neuromasts which are able to respond to very weak water currents, with speeds from 0.03 mm/s and higher. Canal neuromasts can respond to current speeds from 0.3 to 20 mm/s (Bleckmann et al. 1993). The lateral line has functions in schooling, prey detection, spawning, rheotaxis (which is a form of taxis when fish face an ongoing current), courtship and station holding (Coombs et al. 2006). It is thought that the lateral line system can create hydrodynamic images of the surrounding area. This can be achieved by detecting moving and stationary objects in active and passive ways. Active hydrodynamic imaging is similar to the echolocation of objects that is observed in dolphins. Here, fish produce a flow field around their body, which helps them in detecting distortions in their flow field. This is observed in blind cavefishes, which rely on this mechanism to explore their surroundings. For example, they are able to differentiate between structures that differ by even 1 mm (Coombs et al. 2006). Passive hydrodynamic imaging can be carried out for moving and stationary bodies. This is achieved by detecting currents that are generated by other moving bodies such as other fish or the movement of stationary objects such as rocks in a stream (Coombs et al. 2006). Lateral Line Information Processing Lateral line information is processed in all regions of the brain (Figure 4). The information is provided by afferent nerve fibres and is sent to the brain via the lateral line nerves that enter the ipsilateral brainstem and terminate in the medial octavolateralis nucleus (MON). Main primary lateral line projections reach the ipsilateral cerebellar granular eminence while the second order of projections from the medial octavolateralis nucleus terminate in the lateral compartment of the torus semicircularis and in the deep layers of the optic tectum. The final pathway for information processing is the relay of information from the midbrain to different diencephalic nuclei (Bleckmann 2008). Figure 4. This figure depicts the pathway of information processing. MON represents the medial octavolateralis nucleus, CCe represents the Corpus cerebelli, Ll is the hypothalamic inferior lobe, Flo is the facial lobe, ON is the olfactory lobe, PGl represents the lateral preglomerular nucleus, PE is the pre eminential nucleus, TSvl is the Ventro lateral nucleus of torus semicircularis (Bleckmann 2008). Lateral Line Modifications The lateral line system of elasmobranchs is different to that of teleost fish. Elasmobranchs have superficial neuromasts and two morphological classes of sub-epidermal canals. Elasmobranch canals have skin pores that allow direct contact with the surrounding water. They may also have absent skin pores which prevent the contact of canal fluid with the external environment. In teleost fish, hydrodynamic pressure differences at the skin pores cause fluid motion. This results in pored canal neuromasts being able to cipher the acceleration of external water flow near the skin, and induce behaviours such as hydrodynamic imaging, detection of prey and schooling. In elasmobranch fishes, other than prey detection the function of the lateral line pores and their neurophysical response is not yet known (Maruska and Tricas 2004). Sharks and batoids have non-pored canals which are located on the ventral body surface, rostrum and around the mouth (Figure 5). The absence of skin pores demonstrates that localized weak hydrodynamic flow which causes pressure differences will not produce canal fluid motion directly, as it occurs in the pored canal systems (Maruska and Tricas 2004). Figure 5. Lateral line canal system on the dorsal (D) and ventral (V) surface of the Atlantic stingray, Dasyatis Sabina. Solid lines indicate neuromast-free tubules which terminate in pores. The other lines indicate canal sections which consist of innervated neuromasts (Maruska and Tricas 2004). A hypothesis was developed to explain the function of non-pored canals in elasmobranch fishes. The hypothesis explains that the non-pored canals of stingrays which are located on the ventral surface, function as tactile receptors that aids in the localization and capture of small benthic prey. The hypothesis explains that direct coupling of the skin and canal fluid should result in an increase in sensitivity to the velocity of skin movement, which would mean that primary afferents that innervate neuromasts would show characteristics consistent with detectors of velocity. The hypothesis also states that without direction to the external environment, non-pored canals will have lower sensitivity to water motion in comparison to tactile stimulation (Maruska and Tricas 2004). A study done by Karen P. Maruska and Timothy C. Tricas (2004) determined that pored hyomandibular canals on the stingrays dorsal surface are different in terms of primary afferent response from the non-pored hyomandibular canals on the ventral surface. They expressed that primary afferents from the dorsal pored canals respond as hydrodynamic acceleration detectors of water disturbances which are mainly caused by predators. Ventral non-pored canals are sensitive to small movements of the skin, and primary afferents encode the velocity of fluid induced in the canal by these stimuli. The results supported their main hypothesis and demonstrate the function of the lateral line in elasmobranchs in prey detection (Maruska and Tricas 2004). Research Gaps At present, we have a good understanding of how the brain stem and the midbrain respond to different types of stimuli for example, a change in water flow or movement of an object. However, we know nothing about information processing in the tectum opticum which forms the roof of the midbrain and functions as the primary visual center. In amphibians the tectum opticum, a lateral line map is created which helps in registering with a visual and an electrosensory map, which together represent the external area (Parker 1904). Furthermore, we have no information on how lateral line information is processed in cerebellum, which is a brain structure that is involved in motor control and also has a role in cognition. Additionally, little is known about the process of adaptation in the lateral line pathway and how the efferent pathway in the electrosensory lateral line functions in gaining control which is thought to apply in the mechanosensory line (Parker 1904). There is not a lot of information on the internal and chemical structure of the cupula, and how the cupula is attached to the base of the neuromast. The role of the lateral line in schooling is poorly understood. In elasmobranch fishes, other than prey detection the function of the lateral line pores and their neurophysical response has not been fully researched. Conclusion The lateral line system which is a sensory system in fish and amphibians has various functions in schooling, navigation, and prey detection. Through paleontology, comparative anatomy and embryology it was demonstrated that there is a phylogenetic connection between the pore canal system in the dermis of early vertebrates and the lateral line. Moreover, through the action of neuromasts and hydrodynamic imaging, the fish is able to detect its surrounding environment. Lastly, there are some research gaps regarding on how lateral line information is processed in certain parts of the brain. Literature Cited: Bleckmann, H. and Zelick, R. (1993) The Responses of Peripheral and Central Mechanosensory Lateral Line Units of Weakly Electric Fish to Moving-Objects. Journal of Comparative Physiology A-Sensory Neural and Behavioral Physiology, 172 (1), pp. 115-128. Bleckmann, H. (2008) Peripheral and central processing of lateral line information. Journal of Comparative Physiology A-Neuroethology Sensory Neural and Behavioral Physiology, 194 (2), pp. 145-158. Cernuda Cernuda, R. and Garcia Fernandez, J. (1996) Structural diversity of the ordinary and specialized lateral line organs. Microscopy Research and Technique, 34 (4), pp. 302-312 Coombs, S., Jansenn, J. and Montgomery, J. (1992) Functional and Evolutionary Implications of Peripheral Diversity in Lateral Line Systems. Coombs, S. and van Netten, S. (2006) The Hydrodynamics and Structural Mechanics of the Lateral Line System. Fish Biomechanics, 23, pp. 103-139. Dambly-Chaudiere, C., Sapede, D., Soubiran, F., Decorde, K., Gompel, N. and Ghysen, A. (2003) The lateral line of zebrafish: a model system for the analysis of morphogenesis and neural development in vertebrates. Biology of the Cell, 95 (9), pp. 579-587. Denison, R. (1966) Origin of Lateral-Line Sensory System. American Zoologist, 6 (3), pp. 369-371. Diaz, J., Prie-Granie, M., Kentouri, M., Varsamos, S. and Connes, R. (2003) Development of the lateral line system in the sea bass. Journal of Fish Biology, 62 (1), pp. 24-40. Gelman, S., Ayali, A., Tytell, E.D. and Cohen, A.H. (2007) Larval lampreys possess a functional lateral line system. Journal of Comparative Physiology A-Neuroethology Sensory Neural and Behavioral Physiology, 193 (2), pp. 271-277. JAKUBOWSKI, M. (1967) Cutaneous Sense Organs of Fishes .7. Structure of System of Lateral-Line Canal Organs in Percidae. Acta Biologica Cracoviensia Series Zoologia, 10 (1), pp. 69-81. Maruska, K. and Tricas, T. (2004) Test of the mechanotactile hypothesis: neuromast morphology and response dynamics of mechanosensory lateral line primary afferents in the stingray. Journal of Experimental Biology, 207 (20), pp. 3463-3476. Modrell, M.S., Bemis, W.E., Northcutt, R.G., Davis, M.C. and Baker, C.V.H. (2011) Electrosensory ampullary organs are derived from lateral line placodes in bony fishes. Nature Communications, 2, pp. 496. Parker G.H (1904) Bulletin of the Bureau of Fisheries. 24th edition. Washington Government Printing Office, pp 180-204 Yang, Y., Nguyen, N., Chen, N., Lockwood, M., Tucker, C., Hu, H., Bleckmann, H., Liu, C. and Jones, D.L. (2010) Artificial lateral line with biomimetic neuromasts to emulate fish sensing. Bioinspiration Biomimetics, 5 (1), pp. 016001. Theories of Communication: Summary and Analysis Theories of Communication: Summary and Analysis VOTE DAVID TOMIBEBI COURSE TITLE: THE COMMUNICATION PROCESS INTRODUCTION No matter what language we speak, when we hear a sentence we try to get the logical meaning and interpretation (inference). We also try to figure out the exact truth of what the other person or people are saying because it is also believed that there is more to conversation then just the word to word facts. There is a consistent way our conversation should work and we use our knowledge of those rules to go beyond what is actually said and figure out what they actually mean. Therefore, in analyzing this conversation we are going to use those principles such as the cooperative principle and this also is sub-divided or break down into four main maxims which are, the maxim of quality, the maxim of manner, the maxim of relevance and the maxim of quantity Paul Grice (1960). These principles act as guides to our conversations at all times. Most people use it without really knowing that they are using it. Therefore in analyzing this conversation, theories from experts like Paul Grice, Hymes and Wilson (see Bill Clark) are used to explain. In same vein this brief is a communication process via a sign post and it is governed by the maxim of truthfulness and the widespread of the use of pragmatics language to illustrate various processes that leads to relevance SITUATION The speaking Grid is a tool use in the act of interpreting the communication processes; it was developed by Hymes with the acronym S.P.E.A.K.I.N.G which stands for setting and scene, participant, end, act of sequence, key, instrumentalities, norm and genre. (Hymes, 1974 p55-62) In that, the speaking grid is used to analyze the sign post above. SETTING AND SCENE This sign post was spotted on the working site of a car company (mechanical shop) here in the UK Luton. It is believed that the site is marked private and only workers or customers of the said establishment are allowed to park their cars at the place with an order of sanction that follows for none customers Again different cultures have different demands and expectations from individual behaviors in that people coming from a culture were sign post are not used will surely not acknowledge the sign post. Therefore, it all boils down to the psychological state of mind of the individual. PARTICIPANT The participant here are the customers and none customers. It is so because the sign post explicitly direct the information to those two set of audience ENDS The sign post ends with the instruction which is believed to be a sanction for none customers(Toad) although the word is misspell(Towed) but the message is obviously clear to the none customers of the possible action that will be taken against him or her. ACT SEQUENCE The sign post start with the word â€Å"Private† which could meaning a lot of things to different people. But could be understood through the act of inference to meaning private for the purpose of been so for its customers only. KEY This usually refers to the tone of the conversation between peoples but in the post the major tone there is that of the sanction which state that all other will be toad (towed) INSTRUMENTALITY The post was written in two broad forms which could explain perfectly the intention of the communicator. The first language used was a causal language then followed by the tone of sanction for by passers. NORMS There are social and legal rule guiding people’s actions and behavior in the every society. In that the post explicitly indicate that it is for private and at such others will be towed (toad) that is, others not authorize to park there. GENRE This is an artistic work in which scene of everyday life form the subject matter. Therefore, it is most related to linguistic and pragmatic features. LINGUISTIC AND PRAGMATIC FEATURES Linguistically the words written on the sign post might look ambiguous and incorrect because the sign private customer parking only ignoring the misspell word of toad could mean a lot of things to different people because there are so many private life and could also mean private car park which could mean not for public use. Therefore, linguistically what the sign post might be meaning is that customer parking only which can be interpreted that customers are not allowed to do any other thing except parking and this could meaning parking themselves and not cars But it is our knowledge of the word that tells us the actual meaning and by doing so we infer into the contextual meaning by way of reasoning in other to deduce the actual meaning of private car parking Secondly, the word â€Å"ALL OTHERS WILL BE TOAD† which could mean that all other that are not customers could be towed or sometime else could happen to their car. Therefore, that leads to our pragmatic understanding of words as they appear to us. PRAGMATIC MEANING Pragmatically the sign clearly illustrates the under determinacy of the message by the linguistic meaning of the communicative act and people are able to infer meaning to the sign assuming that the word â€Å"ALL OTHERS† could be meaning cars and nothing something else The main idea of pragmatic theory is to analyze issues that affect the interpretation of utterances relating to the knowledge behind the linguistic meaning of the sentence. In that, this analysis shows that human communication is more than just coding and decoding of words and this could be seen from the illustration from of the word â€Å"ALL OTHERS WILL BE TOAD†. It is believed that from the reasoning we are able to infer meaning into the word and extracting the exact meaning the sentence is trying to portray or give. Therefore, in trying to encode as much as possible into linguistic message we rather tend to encode little as necessary for the people who sees the text or sign to figure out the exact message even though it is not in the language. The sign post starts with the word â€Å"Private† and went on to say â€Å"customer parking only and all others will be toad† in that the sign post could be said not to be informative enough for people that might intend parking their cars there will not do so. Although, the sign post may have want to explain the post in this form† Private Customer Car Parking Only, All Other Cars Will Be Towed† in that there seems to be a gap between the decontextualized meaning of the sign post and the ideas expressed by the words. Yule (1996:22) Going by that, it is only by inference (reasoning) that people that are non customer could infer into what the sign post actually mean and act accordingly to avoid sanctions. Finally the â€Å"TOAD† illustrate the point of human communication that the other creature cannot do; for instance towing and toad despite the misspell one is able to code the actual meaning by inferring into the sign post (language) and that is why Hacket(2000) believes strongly on ability of human communication that really distinguishes him from other primate DIRECT COMMUNICATION From the post it is assume that the word â€Å"private customer parking only† could be said to send a straight message to non customers and at such non customers should referring from parking their cars there. The direct communication in the post is actually what the other party really looks at and forgetting the other offensive part that somehow is communicated indirectly. The extraction of the first part meaning is enough for none customers to obey. INDIRECT COMMUNICATION Indirect communication is said to occur when the speaker deviates from the actual meaning or spelling of a particular word or expression. For instance, the post makes some illustrations that clearly show the intention of the communicator that he is trying to conceal things and that could be seen in the spelling of the word Toad instead of Towed and there by miss leading the reader. Although, some may argue that the whole text or sign post is communicated indirectly starting from the very beginning with the word â€Å"Private† to the end which is Toad because the word Customer Parking only do not really communicate directly whether customers are allowed to park their cars there in that it could still mean that the only thing allowed to do there is for customers to park their self in one place without doing anything else. Therefore, it is the use of inference that the true meaning of what the sign post is trying to communicate could really be attained and achieved. THEORIES AND THE ANALYSIS OF THE EXAMPLES Different theories are used in explaining the communication process and some of them include the following The accommodation theory The relevance theory The cooperative theory (Grice maxims) ACCOMMODATION THEORY The accommodation theory is essentially a way in which individuals communicates in social groups with language terms or codes peculiar to them and this sometimes could be as a result of cultural variation and sometimes in other for you to communicate effectively you need to be approved of by that group RELEVANCE THEORY The relevant theory stipulates that there are some information that are worth having while some are not and it is our cognition that is directed toward the processing of the information For instance, the work PRIVATE CUSTOMER PARKING ONLY could mean different things to different people but being that the situation at which the information is posted people tend to get the right meaning and ignoring the other aspect that could not mean anything to them Communication can be defined as the verbal exchange of thoughts and ideas. In that respect, the communication we will be analyzing falls into that category because thoughts and idea were in exchange either explicitly or not. One of the major characteristics of communication is the use of inference(reasoning) and encoding and decoding to decipher what the speaker or writer intentions are or what he intended to say or what he is saying. Sometimes communication takes the form of monopoly in the sense that the communicator might not want the information to be explicit to the reader or receiver thereby making it looks one sided. But there are different reasons why communication can be monopolize for instance the intention of the communicator might be different with what the receiver already know or want and this could be seen in the sign post illustration above which states â€Å"all others will be toad† Going by that, inferential reasoning in communication can be explained using the Grice maxim of communication which is the cooperative principle (1975) to illustrate how communication is perceived THE MAXIM OF QUALITY The maxim of quality is always regarded as one of the fundamental of communications principles, according to Grice because it is also believed that when we communicate we expect each other to say things that we believed to be true and relevant to the discussion (Grice 1989:27) Therefore, the illustration below clearly shows that the communicative style deviate from what could be seen as a cooperative act due to the fact that the post want the reader to infer and deduce into its meaning in other to know exactly what it meant by Toad Customer parking only All others will be toad The maxim of quality says that, in communication the intention of the communicator should be plain and genuine and there should be no form of ambiguity so as to confuse the other party. Therefore the excerpt above in the statement Remember that the maxim of quality says Do not say that for which you believe to be false( truthfulness) Do not say that for which you lack adequate evidence In that maxim of quality is with the speaker over contribution as to what he wants to explain either directly or indirectly which to some extent is regarded as the truthfulness in the act of communication (Grice 1967 p27) The maxim of quality explains things in their real sense and did not try to conceal information so as to deceive the listener. Although communication involve the use of some forms of inference (reasoning) to encode and decode meaning out of conversation, but the maxim of quality is very explicitly when it comes to communication.(Grice 1989 p 371) even thou it was the speaker alone that is mostly concerned. THE MAXIM OF QUANTITY The maxim of quantity as the name is all about giving information with extra ways of adding to the information. For instance, PRIVATE CUSTOMER PARKING ONLY, that piece of information is enough to make the reader understand and get meaning out of the message but rather it went further to add ALL OTHERS WILL BE TOAD. THE MAXIM OF MANNER This is a situation where the speaker makes precise and concise decision without the listener. According to the post above, there seems to be a contradiction deviating from the maxim of manner by adding other talks that are not relevant to the discussion or topic in question. THE MAXIM OF RELATION This maxim stipulates that a partner contribution to the process of communication should be appropriate to the information received. The post begins its statement with the word Private and it clearly shows that it is not open to any other form of relationship except to its customers only Therefore, â€Å"ALL OTHER WILL BE TOAD† contradicts the earlier information of customer parking only with a misspell of the word Towering to Toad. Also the word Toad could be argued according to Grice not to be relevant to the post of customers parking only. RELEVANCE THEORY AND THE CONCEPT OF TRUTH The Grice maxim of truthfulness was part of what might be called an inferential model of human communication, although, relevance is used in technical sense which is not meant to capture any of the ordinary sense of word. Relevance is the property of input to truth in other words; information’s are more relevant when they lead to truth. Although from the relevance perspective it those not really matter if the speaker speaks the truth or not because what is of most concern to relevance is the cognition process. The relevance is more concern about the integration to general knowledge of cognition effect rather than what is actually said or written in the post like the one above with the misspell of Towed as Toad. Dejura is a key element in relevance Looking closely to how we communicate it shows that most often we communicate things that are not true, for instance the sign post trying to communicate the word All Others Will Be Towed is not true because if a police car is parked in that area certainly nothing will be done to that car. But in Grice’s term this is a violation of the maxim of quality but to the relevance theory it is not a violation because people don’t tend to communicate things that are true but rather communicate things that are relevant. According to the definition of relevance it is only those positive improvement to the believe system are worth having. Therefore, in this regard the relevance theory seems to be superior over the Grice’s theory ILLUSTRATION An utterance has two immediate effects and this indicate that the speaker has something to communicate and it determine an order of accessibility in which the interpretability will occur to the hearer. There is always that assumption that we are entitled to presume that the communicator is aiming to make their contribution one that is real and true and one for which he or she has an adequate evidence about PRIVATE 1 CUSTOMER PARKING ONLY 2 ALL OTHERS WILL BE TOAD A standard semantic analysis of the second part of the sign post indicates the following that the parking space provided is for customer only and all others will be charged accordingly. It is obvious that the sign post means something more than what it explains and in that it is expected that the reader uses some inference (reasoning) to decipher the exact meaning of the speaker. Therefore, the sign post with the inscription PRIVATE CUSTOMER PARKING ONLY is immediately flowered by the supporting sign that â€Å"ALL OTHERS WILL BE TOAD† in other words it is very explicit that what the sign post require is for only customers to parking at their own risk and may probable be charged for parking. Walliam and Spencer (1798). This is simply where inferential thinking takes place and could not be argued that this follows the laws of relevance because the law of relevance stipulates that the amount of information recovered should be equal to the one expected or given out. Again, it entails decoding and encoding which is also an important aspect of inference CONCLUSION Therefore, this piece of work achieved in the demonstration of analyzing and describes the intent of communication process from the point of view of relevance theory, cooperative theory and pragmatic and linguistic features of communication. In other word the theories explains how human uses cognition and how human infer into the meaning of various communication process. Therefore, the theories explain the whole sign post beginning with the speaking Grid, linguistic and pragmatic feature of language communication, brief explanation of the accommodation theory, the cooperative principles of communication with explanations on the Grice maxims, direct and indirect communication and the relevance theory REFERENCES Blackemore, D. (1987) sematic contrains on relevance. Blackwell, oxford Blackemore, D. (1992) understanding utterances. Blackwell, oxford Davis, S (ed.)(1991) pragmantics: a reader. Oup, oxford Clark, B. (1993). Relevance and â€Å"pseudo-imperatives†. Linguistics and philosophy, 16(1), 79-121. Clark, B. (1993). Relevance and â€Å"pseudo-imperatives†. Linguistics and philosophy, 16(1), 79-121. Grice, H. P. (1981). Presupposition and conversational implicature. Radical pragmatics, 183-198 Grice, H. P. (2013). 4. logic and conversation. The Semantics-Pragmatics Boundary in Philosophy, 47. Hymes, D.H. (1974). Ways of speaking. In R. Bauman J. Sherzer (Eds.),Explorations in the ethnography of speaking(pp. 433-452). Cambridge: Cambridge University Press. Hymes, D.H. (Ed.). (1974).  Studies in the history of linguistics: Traditions and paradigms. Bloomington: Indiana University Press. Lewis, D. (1979). Scorekeeping in a language game. Journal of philosophical logic, 8(1), 339-359 Lewis, D. (1973). Causation. The journal of philosophy, 556-567. Sperber, D and Wilson, D (1986). Relevance: communication and cognition. Oxford: Blackwell and Cambridge: Harvard University press. Ã…Â ½egarac, V., Clark, B. (1999). Phatic interpretations and phatic communication. Journal of Linguistics, 35(02), 321-346.

SSEs acquisition of The Energy Solutions Group (ESG)

SSEs acquisition of The Energy Solutions Group (ESG) EXECUTIVE SUMMARY This report has been undertaken to come up with the intrinsic value of SSE plc which is operating in energy industry, using shareholder value analysis (SVA) model. The underlying value of the company is estimated to be  £12,122.14m, which is lower than the market value of  £15757.52m (FAME database, accessed on 19th January 2017). The discrepancy of the two values may be explained by referencing to Efficient Market Hypothesis, asymmetric information issue and shortcomings of SVA model. Based on sensitivity analysis, it is determined that SSEs intrinsic value is highly sensitive to changes in operating margin and WACC. It is found out that an adjustment of +2% made towards operating margin and WACC will remarkably change the company value by +86% and nearly -50% respectively. Therefore, analysts should pay more attention to these two variables when employing SVA model. The later section of the report identifies SSEs acquisition of The Energy Solutions Group (ESG) as a critical financial event, highlighting that the transaction will bring more synergy to the firms operation and enhance its competitive advantage in the energy industry. However, it is imperative for shareholders to keep track of the companys performance to alleviate problems of hubris or empire building. Objectives This financial report is expected to achieve two primary objectives. First, this report aims to provide the valuation and analysis of SSE plc a company operating in the energy industry by employing Shareholder Value Analysis (SVA) technique. Second, SSEs acquisition of The Energy Solutions Group (ESG) in 2014 will be evaluated with reference to finance theories in Mergers and Acquisitions. 1.2 Report structure This financial report is organized in five main parts: Section I: Introduction This section provides main purposes of the report and briefly describe structure of the report. Section II: Company Profile This section gives an overview of SSEs business activities, its market share and competitive positioning. Section III: Company Valuation This section covers the following contents: Evaluate the appropriateness of SVA model to value a company Perform the valuation of SSE plc using SVA model Provide justifications for variables and proxies used in the model Carry out comparative analysis and sensitivity analysis Section IV: Actual Corporate Financial Event This section critically evaluates SSEs acquisition of The Energy Solutions Group (ESG) with reference to finance theories. Some implications would also be proposed following the event evaluation. Section V: Conclusion This section summarizes the employment of SVA measure in case of SSE and then provide some recommendations. 2.1 Business Description SSE plc (Scottish and Southern Energy plc) is a British energy company headquartered in Perth, Scotland, United Kingdom. SSE was established in 1998 as a result of the merger between Scottish Hydro-Electric and Southern Electric. SSE is listed on London Stock Exchange and it stock forms part of FTSE 100, FTSE 350 and FTSE All-Share. SSEs business covers three segments: Wholesale, Networks and Retail. The Wholesale segment involves power generation from renewable and thermal plant in the United Kingdom, Ireland and Europe; the Networks segment is responsible for distributing electricity to customer premises in the North of Scotland and the South of England; meanwhile, the Retail segment supplies electricity and gas to residential and business customers in the United Kingdom and Ireland (Financial Times, 2017). Since SSE undertakes both generation and retail supply activities, it is considered a vertically integrated energy business. This makes SSE unique since SSE is the only company listed on London Stock Exchange involved in such a broad range of energy businesses (SSE, 2016a). Market share Regarding Wholesale business, in 2015 SSE had a small market share of 7%, accounting for only a quarter of EDFs share and about half of RWEs share (see Appendix 1). Referring to Ofgem (2016b), in 2015 the market shares of dominant energy producers in the UK remain relatively unchanged compared with these of 2014, which is also the case of SSE. With respect to Retail business, there were over 43 active energy suppliers in Britain by March 2016, most of which offering both gas and electricity supply (Ofgem, 2016a). SSE is included in Big 6 which are widely known as dominant leaders in the market, including British Gas, EDF Energy, E.ON, SSE, npower and ScottishPower. These companies supply gas and electricity to over 50 million household and businesses in Britain, with 87% share of domestic customers by March 2015 (Ofgem, 2016a). SSE is operating in a very competitive and well-functioning energy retail market. The firms market share in the market for energy supply can be illustrated in Appendix 2 and Appendix 3. By March 2016, SSE had the second largest market share of UK electricity supply market (about 15%), while its market share of gas supply (about 13%) only accounted for approximately one-third of British Gass share. Increasing competition in energy industry and SSEs competitive positioning Out of the three segments, Wholesale and Retail businesses have been facing increasing competition in recent years due to the entrance of new rivals in the GB Energy Supply market. There have been some concerns over barriers to entering wholesale and retail energy market such as the complexity and extent of credit requirements or low levels of liquidity in the market. Despite of these, new entry has taken place (see Appendix 4). The result of new suppliers entry is falling market share of the six large suppliers from 90% to 87% between March 2015 and March 2016 for electricity, and 90% to 86% for gas over the same period (Ofgem, 2016a). Specifically, the entry and growth of new suppliers has led to SSEs market share declining. There is a decreasing trend in the number of energy customer accounts for the past three years (see Appendix 5). In addition to the new rivalries entrance to the market, customers switching is another issue that reduce the market share of six large suppliers. Households are increasingly turning to smaller suppliers, with consumers complaining the sector is slow to pass on wholesale energy cuts and offers poor service. The total number of users switching suppliers in March 2016, 476,528 customers, was the highest since November 2013 (Energy UK, 2016). As the market become more and more competitive, attracting and retaining customers can pose challenges to SSE. However, SSE has a clear strategy to differentiate itself and create value by becoming a market-leading, digital and diversified retailer of energy and essential services. According to SSE (2015a), for the past few years SSE has: Launched its first large-scale advertising campaign for the SSE brand in both Britain and Ireland, known as Proud to make a difference campaign. The campaign has been implemented in many forms from TV, radio, billboards, print media to various digital and social media formats; Overhauled its digital channels in order to create a simple, seamless and intuitive customer experience and provide the best possible service at the lowest possible cost; Introduced a new customer relationship management (CRM) platform which facilitates better customer understanding and tailors communications and propositions to the needs of different customers; Developed and reopened sales channels and processes to ensure compliant growth. Additionally, SSEs commitment to decarbonization means that the firm will continue potential expansion in renewable energy portfolio which are comprised of onshore wind, offshore wind and conventional hydro. Furthermore, SSE is the leader in the UK energy industry to handle customer complaints. According to Energy Ombudsman in February 2016, only four out of 100,000 customer complaints required further investigation in the first three quarters of the year, pointing out the fact that 99.969% of SSEs customer issues were fully resolved (SSE, 2016a). 3.1 Evaluate the appropriateness of SVA Model There are many methods for estimating value of a company, including valuations based on asset, dividend, earnings and cash flows. Among these methods, discounted cash flow valuation is the most technical way of valuing a business as it is heavily dependent on assumptions about long-term business conditions. This measure is especially useful for cash-generating businesses which are stable and mature. Alfred Rappaport (1998) developed a simplified approach of cash flow discounting called shareholder value analysis (SVA). SVA model makes assumptions about steady changes in a number of cash flow factors as they are all relevant to sales level. There are obvious advantages associated with the use of this model. SVA is not subject to different accounting policies used by different companies and therefore can be applied across many business sectors. In addition, firms using SVA must concentrate on the future and customers, with specific focus on future cash flows. On the other hand, SVA is not a perfect model as it contains some shortcomings when being used in practice. Irrational assumptions about value drivers, as well as data unavailability are possible drawbacks that analyst frequently encounter when employing this model. 3.2 Justification of variables and proxies Employing the SVA Model to calculate a companys intrinsic value requires assumptions about a number of key variables. Sales growth might be the most important factor in the model, setting the foundation to come up with other variables values such as operating profit, incremental capital investment and incremental working capital investment. In case of SSE, sales growth is determined after careful consideration of historical growth rates, price forecast and potential future projects. For the last three years, sales growth has witnessed a decreasing trend, which can be explained by a number of reasons. First, energy prices in the UK are influenced by oil and coal prices; therefore, when these commodities prices move upward or downward, they are likely to drive gas and electricity prices in the same direction (Ofgem, 2016b). Since the second half of 2014, there were downward trends in oil and coal prices due to oversupplied markets for these commodities, contributing to declining energy prices and therefore SSEs revenues. The movements of oil price can be illustrated in the following figure: Figure 1: Brent Crude Oil price from 2010 to 2016 (Source: Bloomberg, 2016) Second, there are more and more energy suppliers in the UK market. Levels of new entry have been very high recently: 14 new suppliers became active between April 2015 and March 2016, compared to five between April 2014 and March 2015 (Ofgem, 2016a). The presence of new rivals leads to SSEs declining market share as well as the firms revenue. Third, more and more customers are switching to small and medium-sized suppliers, as shown in Figure 2. If this trend goes on, there will be much pressure on expected revenue of large energy suppliers. Figure 2: Monthly increases in the total number of domestic gas and electricity meters supplied by small and medium-sized suppliers (Source: Ofgem analysis of data provided by Xoserve, DNOs and iDNOs, 2016) From the above data, it might seem that SSEs revenue will be struggling in the next few years. However, there are evidences for investors to believe in SSEs sales growth for at least the next 5 years. First, oil price forecasts by World Bank, IMF and EIU indicate crude oil prices will observe steady increases from 2017 to 2025 (Knoema, 2016) (see figure 4, figure 4 and figure 6). Figure 3: World Bank Oil Price Forecast (Source: Knoema, 2016) Figure 4: IMF Oil Price Forecast (Source: Knoema, 2016) Figure 5: EIU Oil Price Forecast (Source: Knoema, 2016) Second, some renewable projects will be fully operational in 2017 and these will definitely support revenue growth in the next few years. As reported by SSE (2016c), three onshore wind projects under construction are expected to come into operation in 2017, including Dunmaglass (94MW), Clyde Extension (173MW) and Bhlaraidh (108MW). After above analysis has been taken into account, the sales growth is determined as the arithmetic average of the changes in sales over the previous three years, giving the result of 0.82%. This sales growth is reasonable given that SSE is operating in increasingly competitive industry, with customers tending to switch to small and medium-sized suppliers in recent years. The operating profit margin is predicted to be 2.87%, which can be worked out by taking the average of the margins in previous three years. The reason behind this assumption is that SSE is an efficient energy supplier committed to maintaining relatively low operating costs in order to make a fair profit. According to SSE (2015a), SSEs indirect costs per customer are around 20% lower than the average across the rest of the major suppliers. The effect of low operating costs can be demonstrated by stable operating profit margins for the last three years, and it is expected that this trend will continue for the coming financial years. The incremental capital investment of 53% is understandable as the company continues to develop secure, sustainable and low carbon energy infrastructure, given that the energy industry is switching to renewable energy sources. In its interim results for the six months to 30 September 2016, SSE announced it plans to invest a record  £1.85bn of capital expenditure and investment in Great Britain and Ireland in 2016/17 (SSE, 2016b). According to Alistair Phillips-Davies, SSE Chief Executive, the firm is making more investment in supporting the modernization of UKs energy facilities, and the total investment and capital expenditure by 2020 is forecast to reach approximately  £6bn. A relatively low working capital investment of 10% is determined since SSEs current assets are just enough to absorb current liabilities in the last few years. Trade and other receivables accounts for a large proportion of SSEs current assets due to the nature of the energy supply business. Meanwhile, current liabilities are mainly comprised of trade and other payables, which is because the company is making heavy investment in renewable energy infrastructure. Simply put, an incremental working capital investment of 10% is appropriate for SSE given that many potential energy projects will be under construction in the coming years. The corporation tax rate of 20% is applied to company profits (HMRC, 2016), and SSEs business is also subject to this rate. Another key variable in SVA is weighted average cost of capital (WACC). The cost of debt is determined as SSEs weighted average interest rate, which is 3.73% for year 2016. Meanwhile, the cost of equity is computed using CAPM model. SSEs beta (0.74) was obtained from FAME database, while the UK Gilt 10 Year Yield (1.40%) collected on Bloomberg website is used as the proxy for risk-free rate; all of these figures were retrieved on 19th January 2017. In addition, the UK market risk premium (5.3%) by Fernandez, et al., (2016) is another key component in the CAPM. Subsequently, a WACC of 4.59% is achieved and this is the required rate of return for SSEs capital providers. In short, the following seven value drivers will be applied in case of SSE: Table 1: Seven value drivers for SVA model Key Drivers Value Sales growth 0.82% Operating Profit margin 2.87% Tax rate 20% Incremental fixed capital investment 53% Incremental working capital investment 10% Planning Horizon 5 Required Rate of Return 4.59% Source: Analysts estimate 3.3 Employment of SVA Model Table 2 illustrates how SVA model is utilized in SSEs case. SSEs revenue of  £28,781m (recorded on 31st March 2016) was increased annually by a sales growth of 0.82% over a 5-year planning horizon. Subsequently, an operating margin of 2.87% was applied to revenues to come up with the firms operating profit. Before arriving at SSEs operating cash flows, a corporation tax rate of 20% was imposed on the operating profit, followed by subtractions of 53% in incremental capital investment and 10% in working capital investment. Afterwards, the present value of future cash flows was estimated by discounting the firms operating cash flows by 4.59% cost of capital. It is noted that SSEs terminal value at year 6+ was discounted twice, the first of which worked out the value at year 5 and the second one brought out the value in present day. After the net present value of  £18,930.7m was figured out, adjustments were made by adding  £360.2m cash and marketable securities, and then deducting  £7,168.8m total debt. After all, SSEs intrinsic value was determined at  £12,122.14m. Table 2: SSEs Shareholder value analysis (unit: million pounds) Year 1 2 3 4 5 6+ Sales 29,018.4 29,257.7 29,498.9 29,742.2 29,987.5 29,987.5 Profit 833.6 840.5 847.4 854.4 861.5 861.5 Associate Profit 206.5 208.2 209.9 211.6 213.4 213.4 Less Tax 166.7 168.1 169.5 170.9 172.3 172.3 Less ICI 125.1 126.1 127.2 128.2 129.3 0 Less IWCI 23.7 23.9 24.1 24.3 24.5 0 Operating Cash Flow 724.6 730.6 736.6 742.7 748.8 902.6 PV of cash flows 692.8 667.8 643.8 620.6 598.3 15,707.4 NPV 18,930.7 Add mkt secs 19,290.9 Less debt 7,168.8 Equity Value SVA 12,122.14 million Actual Value 15,757.52 million FAME access on 19th January 2017 Source: Analysts estimate 3.4 Comparative Analysis SSEs intrinsic value derived from SVA model was  £12,122.14m while its market capitalisation was recorded at  £15757.52m (FAME database, accessed on 19th January 2017), pointing the difference of  £3,635.38m between the two values. One possible explanation for this discrepancy is that all relevant information may not be incorporated into the share price. It could be inferred from Efficient Market Hypothesis (Fama, 1970) that the extent to which the share price is reliable depends on the efficiency of the markets. Under the strong form efficiency, the market value of  £15757.52m will fully reflect all past, present and insider information. On the other hand, if the market is under the weak form efficiency, the market value of  £15757.52m will only reflect the historical prices of the security, and hence lacking reliability. Furthermore, the information asymmetry, e.g. between management and investors and between investors themselves, is another explaining factor. Plesco Sobol (2013) states that investors who are ill-informed about financial disclosures can make unreasonable decisions in their investment. Due to irrational trading behaviours of these investors, share prices may not yield a fair market value. Another cause of the difference between the two values lies in the limitations of SVA model. The constant sales growth every year is not very realistic because the growth depends on potential development and firms strategies, which are subject to annual reviews. In the same manner, keeping WACC (4.59%) constant over 5-year planning horizon is not rational in practice, because the firms capital structure will change over time. Last but not least, the assumptions of sales growth and other key variables depend on each analysts subjective viewpoint. Changing these values by a small percentage might result in considerable change in eventual intrinsic value. 3.5 Sensitivity Analysis The sensitivity analysis performance indicates that SSEs underlying value is highly sensitive to changes operating profit margin. A positive adjustment of 2% made towards the operating margin will result in a substantial increase of 86% in the firms equity value (see Appendix 6). It is worth remembering that SSE is committed to preserve low operating costs so as to gain a fair profit. According to SSE (2015b), the firm has participated in a value program to ensure effective use of people and capital, the overall objective of which is business streamlining and simplification. This program comes with efficiency target, with expected  £100m of annual savings in overheads. In addition, the program involves reduction in offshore wind development as well as disposal of non-core assets. In general, this value scheme is likely to help SSE optimize its investment and re-balance its business. Moreover, it is noticeable that the firms intrinsic value is susceptible to changes in WACC. An adjustment of +2% in the WACC will lead to approximately 50% reduction in the firms equity value (see Appendix 6). According to Fitch Ratings (2016), SSEs equity has been diminishing recently due to the influence of sustained asset impairment losses and generous dividend pay-outs. In agreement with Pecking Order Theory, debt takes priority over equity in case external finance is required (Donaldson, 1961). Because SSEs cost of debt (3.73%) is lower than cost of equity (5.32%), it is appropriate for SSE to obtain  more bank loans to finance its long-term operations, while still making sure cost of capital is kept to a minimum. Particularly Fitch Ratings (2016) claims that SSE has a policy of accessing debt markets, ensuring that its committed borrowings equal to at least 105% of forecast borrowings over a six-monthly rolling period and adequate liquidity will be fulfilled until at least S eptember 2017. 4.1 Background information In the end of July 2014, SSE completed the acquisition of The Energy Solutions Group Topco Limited (ESG), the North west-based provider of energy management services, from Bridgepoint Development Capital for  £66m with an additional  £6m if agreed targets are achieved. Working with private and public sector customers, ESG identify improvements in their management of energy consumption; as well as install, maintain and support building management systems and solutions, saving customers around 20% to 30% of their energy consumption (SSE, 2014). 4.2 Evaluation of the issue in the context of finance theories This acquisition is classified into vertical MA (Mergers and Acquisitions). According to Arnold (2013), vertical MA occur between companies operating in the same industry at different stages of production, i.e. one company acquires another company that is either before or after it in the supply chain process. In case of SSEs acquisition, both SSE and ESG work in the energy industry. SSE involves in all many stages of energy supply chain including wholesale, networks (distribution) and retail; meanwhile ESG engages in the retail business where it is the designer and provider of energy management solutions. Therefore, SSEs acquiring ESG would be a downstream vertical acquisition. So, what is SSEs motivation behind this acquisition? Vertical integration has some advantages, including the attraction of increased certainty of supply or market outlet; reducing cost of search, contracting, payment collection, advertising, communication and co-ordination of production (Arnold, 2013). SSE (2014) states that the acquisition of ESG will strengthen SSEs services in competitive markets for industrial and commercial customers. These services are comprised of electrical and mechanical contracting, lighting services, private energy networks and telecoms, all of which are under the control of Enterprise division which forms part of SSEs retail business. According to Arnold (2013), one of the merger and acquisition motives is synergy in which the two firms together are worth more than the value of the firms apart; hence in this case, ESG will bring commercial synergies to SSEs Enterprise division. SSEs Chief Executive Alistair emphasized that managing energy costs and environmental impact are SSEs big priority for large industrial and commercial customers. Benefiting from ESGs expertise, SSE expects to meet the energy and related demands of these customers in an enhanced manner. It was confirmed that the ESGs existing management team would be in charge of the Enterprise division, and the firm believed that the commitment of the ESG management team and other employees will benefit its customers and the environment in terms of effective energy management solutions delivery. SSEs acquisition of ESG is considered a strategic acquisition in order to achieve external growth. There are two ways to categorize strategic acquisitions: by type of capability transferred and by their relation to corporate strategy (Goold Luchs, 1995). Regarding capability transfer, SSE (2015a) asserts that the acquisition of ESG added new capabilities to the business. (Goold Luchs, 1995) claims that value is created in an acquisition when competitive advantage of one firm is enhanced through the transfer of strategic capabilities including resource sharing, functional skill transfer and management skill transfer. The presence of ESG management team in SSEs Enterprise division will upgrade SSEs capability of strategic planning, ensuring that effective energy management solutions are delivered for the sake of customers. Generally, SSE is expected to benefit from management skill transferred from ESG. Another way to categorize strategic acquisitions is based on their contribution to corporate-level strategy. In other words, acquisitions are assessed considering their connections in maintaining and changing the balance between the firms existing domain and the renewal of its capabilities (Goold Luchs, 1995). An acquisitions contributions are classified into either domain strengthening, domain extension or domain exploration. In light of SSEs acquiring ESG, this would be an illustration of domain strengthening because this acquisition will deepen SSEs presence in retail business, especially reinforcing Enterprise divisions operation. Next, it is essential to see what happened with SSE stock price after the firm made announcement about the acquisition of ESG. Theoretically, when a firm acquires another one, a short-term impact on the stock price of both companies is expected. Specifically, a lot of practical studies point out that the acquiring firms stock price will go down while the acquired entitys stock price will rise (Investopedia, 2016a). With respect to the takeover company, its stock will go down mainly because of a number of uncertainties associated with the acquisition, such as turbulent integration process, lost productivity, additional debt or expense incurred and accounting issues (Investopedia, 2016a). Figure 6 demonstrates SSEs stock prices after the acquisition of ESG was disclosed. Figure 6: SSEs stock price movements after acquisition of ESG (Source: Hargreaves Lansdown, 2014) As can be seen from the above figure, SSEs stock prices witnessed decreases in two consecutive days after the acquisition and this conformed with the empirical studies implication m

Essay --

After Mulveys theory was published, during the 1980’s many feminists who began to look for the meaning of female spectatorship raised many debates about the male gaze. (Stacey,1994, p24) As Rosemary Betterton enquires, â€Å"what kinds of pleasure are offered to women spectators within the forms of representation†¦which have been mainly by men, for men?† (Betterton, 1985 p4). Similarly, David Rodowick stated, â€Å"Mulvey discusses the male star as an object of look but denies him the function of an erotic object† and asks â€Å"So where is the place of the feminine subject in this scenario?† (Rodowick, 1982 p8) Many feminist film theories have attempted to study Mulveys theory further. One way would be to look at the way film text produces different gendered spectator positions which goes against Mulveys and masculine models of spectatorship (Stacey 1994, p 25). On the other hand accepting the masculinisation of the female spectator but arguing that due to sexual difference the spectator therefore will get different visual pleasures from the text. I will look at three main theorists who argue against the Mulvey male gaze theory of the 1970’s. Firstly, Raymond Bellours work, as written in ‘Psychosis, neurosis, perversion’, from Camera Obscura, has taken a physiological understanding of sexual difference in Hollywood cinema claiming a space for female desire. (Stacey,1994, p24) By investigating the dialogue of Hitchcock films, Bellour discovered an analysis of the way the gaze is created. Bellour stated â€Å"The mechanisms for eliminating the threat of sexual difference represented by the figure of a woman, are built into the apparatus of the cinema† (Bellour, 1979, p97) Although, his version is a very pessimistic ideology for the female desire, Bell... ...tic pleasure.† (Stacey 1994 p29) The female spectator therefore â€Å"takes on a specific meaning in cultures where women are so constituently defined as both subject and object of the gaze. Thus’ wanting to be liked does not necessarily exclude an erotic component.(Stacey 1992, p30) Therefore, unlike Mulveys theory that all women are put in the masochists position in order to enjoy films where the woman is objectified, she states that there is potential homo-eroticism for all female spectators, whilst identifying with the â€Å"woman-as-spectacle† at the same time.(Stacey 1994 p 29) Using the theories I have discussed regarding feminist film theories , I will apply it to two of the most commercially popular Hollywood Romantic comedies, Pretty Woman and Bridesmaids. Since they both fall under this genre, I will be able to apply these theories and compare them accordingly.

Business Law Essay -- essays research papers fc

Case study: David Jones Ltd v Willis (1934) 52 CLR pages 110 till 133. This case has created controversy among the Courts and such justices as Rich, Starke and Dixon. They all have different but similar decisions, relating to The Sales of Goods Act 1923(C ¡Ã‚ ¦th).   Ã‚  Ã‚  Ã‚  Ã‚   Summary This case deals with the defendant David Jones Ltd versus Willis the plaintiff, on the appeal from the supreme court of New South Wales. The case is related to The Sales of Goods Act 1923(C ¡Ã‚ ¦th). In the case the plaintiff purchased a pair of shoes from the defendant David Jones, a retail distributor of footwear not manufactured by it. On the third occasion of wearing the shoes the heel came off while the plaintiff was walking down the stairs. She fell over and suffered injuries. She sued for damages. The court held that there was a breach of the conditions of merchantable quality and fitness for purpose. The judge granted a new trial limited to question of damages. The appeal by the defendant was dismissed by the Full Court of the Supreme Court. Special leave to appeal from the judgment of the Full Court was granted to the defendant by the High Court on question whether there was evidence of implied condition or warranty within the meaning of sec 19 (1) or (2) of the sales of Goods Act 1923.The appeal then came on for hearing. The Sales of Goods Act 1923 (C ¡Ã‚ ¦th) „X  Ã‚  Ã‚  Ã‚  Ã‚  Codifies the common law, with some modifications. „X  Ã‚  Ã‚  Ã‚  Ã‚  In this situation the contact was for a sale of goods. As we can assume that the pair of shoes purchased from the retailer David Jones cost greater than $20 and the plaintiff had evidence in writing such as a receipt. „X  Ã‚  Ã‚  Ã‚  Ã‚  It is a Sales of goods if  ¡Ã‚ §the test is whether the primary objective of the contract is to transfer ownership of goods ¡Ã‚ ¨ in this case that was exactly the situation.   Ã‚  Ã‚  Ã‚  Ã‚   Contract- Section 6 defines a contract for the sale of goods as,  ¡Ã‚ §A contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for money consideration called the price. ¡Ã‚ ¨ (Carvan, Miles C, Dowler W, 2003, 423). The defendant David Jones transferred a pair of shoes (goods), with the plaintiff for a certain price. As there was an exchange of property with money The Sales of Goods Act applies. The pair of shoe... ..., or whether the sales representative knew the particular purpose, it does not seem the parties are going to say something new, even if they were not telling the truth. And it seems the merchantable quality section has been fairly investigated and enough evidence has been obtained to come to a conclusion. In conclusion the sale between David Jones and Mrs. May Elisabeth Willis was a sale by description, it had breeched the implied condition of fitness for a particular purpose along with the implied condition of merchantable quality. Therefore I find the defendant David Jones guilty of sections 19 (1)  ¡Ã‚ §An implied condition of fitness for a particular purpose and 19 (2)  ¡Ã‚ §An implied condition of merchantable quality ¡Ã‚ ¨ as it sold faulty stock to the defendant Mrs. May Elisabeth Willis which caused her to fall down the stairs and brake her leg. The defendant can be sued for damages. I therefore support the trial limited to question of damages. Bibliography „X  Ã‚  Ã‚  Ã‚  Ã‚  Carvan, Miles C, Dowler W, A Guide to Business Law 15th edition. 2003 Sydney: Lawbook Co. „X  Ã‚  Ã‚  Ã‚  Ã‚  Case study: David Jones Ltd v Willis (1934) 52 CLR pages 110 till 133.

Chapter Essay

What do you think are the prime advantages and disadvantages of National City Corporation’s virtual tryouts? The advantages of using virtual tryouts are competitive edge against other companies. Allows them to pick candidates better suited for their work environment, allows candidates the knowledge that they are applying for a company that is at the cutting edge of technology and they want to move forward with the times. Unfortunately there are also disadvantages associated with virtual tryouts. Employers may grab the interest of candidates, however if real day to day activities at work do not contain some of the aspects that the virtual test had, then employees will get uninterested and quit. 2. Do you think there would be any EEO concerns regarding this system? I don’t think there would be any EEO issues with this system, otherwise it would not be offered in the market. However I do believe that this new system â€Å"Virtual Tryouts† is not necessarily right for all hiring aspects for every type of position/ company. There are aspects of a perfect employee to company match that a computer test cannot guarantee. Example, you can have a candidate that gets great results in the virtual tryouts given the situation that they are told to address, yet in the real day to day situation of the position they do not do very well, and vice-versa. 3. Would you suggest the company tailor its system for different types of candidates? Yes, I recommend that the company tailor its system for the different types of positions and the different types of candidates required to fill those positions. Chapter 8 Case Study Appraising Employees at the San Diego Zoo. 1. Do you think the San Diego Zoo’s old appraisal system needed to be changed? I think it needed to be changed because before they weren’t taking it seriously and it was a low priority to them. Now with the new system the employees will get raises depending on their performance which in turn will ncrease company performance. 2. What do you think are the pros and cons of using a Web-based appraisal system? The pros of using a web-based appraisal system is that it is convenient because a large group of people can be rated in less time and it will control personal bias. The cons of using a web-based appraisal system is that it gives too little attention to the overall performance of workers and in person interviews are more effective in rewarding or po inting out deficiencies in workers. 3. How do you think the new appraisal system will affect employees and the types of employees who work at the zoo? The new appraisal system will affect employees positively for those employees that are looking to grow with the company and be a part of the growth. When an employee is given targets and goals to reach, then they know what they are working towards and they are aware that if they reach the targets and goals there is a gain for them at the end. With this set, you will get employees that are willing to do the work and the time to get a job done right.

Who Will Light the Incense When Mother’s Gone? & On Going Home

When reading non-fiction we have to think critically about what the writer is trying to convey in their piece. We look at formalist criticism and historical criticism, to see if there is anything that belong in either of those two categories. Writers also can also use different strategies in order to convey their thesis or themes. The non-fiction works that I have chosen are â€Å"Who Will Light the Incense When Mother’s Gone? † by Andrew Lam and â€Å"On Going Home† by Joan Didion. I will discuss their theme and how Lam and Didion conveyed that theme into their work and for what purpose and to whom it was for.I will also discuss why it is considered a piece of non-fiction and how imagination plays a part in the selected stories. Who Will Light the Incense when Mothers’ Gone? By Andrew Lam Summary The theme that comes out in the short story by Andrew Lam is â€Å"tradition. † Lam conveys this theme when his mother asks who will light the incense. In Vietnam, which is Lam’s homeland, he remembers lighting incense but since fleeing to America is has become a distant dream and he no longer knows who to pray to and for what purpose.â€Å"Having fled so far from Vietnam, I no longer know to whom I should address my prayers or what promises I could possibly make to the long departed. † (p. 1115). It is a tradition that his mother has kept since moving to the America’s and it is a tradition that could be lost once she is no longer on this earth. But Lam realizes that his mother and he live in two different worlds. His mother still believes in praying to the ancestors every morning, while Lam is too busy living an American life. Strategy Purpose & Audience Lam conveys this theme by his memories of what it was like growing up with his mother in America.She kept her children’s degrees, trophies from sporting events, just as any loving proud mother would do. But above that shelf, she had her incense that she l it every morning, religiously. â€Å"†¦she climbs a chair and piously lights a few joss sticks for the ancestral altar that sits on top of the living room bookcase. † (p. 1115). The purpose of this story that I believe Lam is trying to express is the feeling he felt when he heard that no one will light the incense when his mother is gone. This is a feeling that any immigrant child can be able relate to; disappointment.His mother wishes for one of her children to follow the tradition of praying to the ancestors but she knows that it will be too much to ask. â€Å"And when, upon my mother’s insistence, I light incense, I do not feel as if I am participating in a living tradition so much as pleasing a traditional mother. † (p. 1116). Lam expresses that he feels he does not belong is lighting the incense because it is such a Vietnamese tradition and he has adopted the American ways. Non-Fiction This piece is described as non-fiction because this is a recount of a day in his life, and how he felt about that day.He first starts off by describing his mother’s birthday. â€Å"My mother turned seventy recently, and though she remains a vivacious woman†¦Ã¢â‚¬  (p. 1115). He then goes in detail about the conversation that went on between his mother and his aunt. His mother asks who will be able to light the incense when she is gone, his aunt then reply’s that she does not know because none of her children will do it and to forget even thinking that the grandchildren will do it. (p. 1115) Imagination Imagination is required in reading this story. I say this because, as the reader you have to put yourself in the narrators place.Unless you are a child of an immigrant, you need to try to understand what he or she is going though in this story. Lam feels disappointment in himself because he could light the incense but would not feel right in doing so because he has not practiced doing so in such a long time. If you were to imagin e yourself as an immigrant child who does not follow the traditions from your homeland anymore, you would not feel comfortable in doing the traditions as well. â€Å"I wish I could assure my mother that, after she is gone, each morning I would light incense for her and all the ancestor spirits before her, but I can’t.† (p. 1116)On Going Home by Joan Didion Summary In Joan Didion’s â€Å"On Going Home† the reoccurring theme is â€Å"home. † The narrator is home for her daughter’s first birthday and the feelings of being home again are overwhelming â€Å"And yet some nameless anxiety colored the emotional charges between me and he place that I came from. † (p. 636). Didion is explaining that the term home, now has a different meaning to the younger generation. She explains how she feels about being home and what she wishes for her young daughter. She exclaims how she cannot give the life or feeling of â€Å"home† to her daughter, like she had.â€Å"†¦would like to give her home for her birthday, but we life differently now and I can promise her nothing like that. † (p. 637) Strategy Purpose & Audience Didion is trying to convey the feeling of being home again. Even though Didion is getting into her thirties, married, with a child and with a home of her own, being at the place she grew up brings unexpected feelings. â€Å"†¦and yet I was almost thirty years old before I could talk to my family on the telephone without crying after I had hung up. † (p. 636) During the time that Didion left home, the idea that you were never able to come home again weighted heavy on your mind.The purpose of this story could be to see if anyone still felt the same way about being home, like she did. Anyone who has left home, and wished to come back could relate to this story, or someone who is close to their family. Non-Fiction This story is a form of non-fiction. Didion is retelling the time she went ho me to her parents’ house for her daughters first birthday. She talks about the conversations that she and her family has about people she once knew. â€Å"†¦and we appear to talk exclusively about people we know who have been committed to mental hospitals, about people we know who have been booked on drunk-driving charges†¦Ã¢â‚¬  (p.636)Another bit about this story being non-fiction is how her family and herself talk to one another. She says that they do not â€Å"demand† anything from her, and that they do not fight, and there is nothing particularly wrong. She also speaks about visiting her aunts. These are all events that Didion went through while visiting her family for her daughter’s birthday. Imagination In this short story, you do need to have a sense of imagination. You need to place yourself in the shoes of Joan Didion while visiting her parents’ house, about being around the objects that are now so precious to you.She brings on emoti ons that only a child who has left home, or a person who is thinking about leaving home can feel. The emotions of getting into a routine again, having conversations about people around town that you used to know, and being around family that you have not seen in a while. Having to imagine this can provoke the same nameless emotions that Didion expressed. Conclusion Both themes for each stories revolve around family. Having a tradition that means a lot to a family member or being able to come home for a visit. Everything leads up to being around family, who love and support you though everything.