B.f. Skinner Essay examples -- essays research papers

B.F. Skinner Psychologist, born in Susquhanna, Pa. He studied at Harvard, teaching there (1931-6, 1947-74). A leading behaviorist, he is a proponent of operant conditioning, and the inventor of the Skinner box for facilitating experimental observations. B. F. Skinner’s entire system is based on operant conditioning. The organism is in the process of â€Å"operating† on the environment, which in ordinary terms means it is bouncing around the world, doing what it does. During this â€Å"operating,† the organism encounters a special kind of stimulus, called a reinforcing stimulus, or simply a reinforcer. This special stimulus has the effect of increasing the operant - which is the behavior occurring just before the reinforcer. This is operant conditioning: â€Å"the behavior is followed by a consequence, and the nature of the consequence modifies the organisms tendency to repeat the behavior in the future.† Say you have a dog and he’s just playing around with his toys and such and then when you throw a toy at him and he catches it then you give him a treat. Then all of the sudden the dog is starting to catch toys and such as you throw it in the air or at his mouth. The operant is the behavior just prior to the reinforcer, which is the treat. Then what if you decide to stop giving the dog treats, well he’ll stop his little trick which your, the owner were enjoying. This is called extinction of the operant behavior. Now, if you were to start showing the dog treats, then most likely he/she’ll want to start doing the tricks again and a little more quickly than the dog learned at first. This is because the return of the reinforcer takes place in the context of a reinforcement history that goes all the way back to the very first time the dog was reinforced for performing the tricks. Continuous reinforcement is the original scenario: Every time that the dog does the behavior (such as performing a trick), he gets a treat. The fixed ratio schedule was the first one Skinner discovered: If the dog did the trick three times, say, he gets a goodie. Or five times. Or twenty times. Or â€Å"x† times. There is a fixed ratio between behaviors and reinforcers: 3 to 1, 5 to 1, 20 to 1, etc. This is a little like â€Å"piece rate† in the clothing manufacturing industry: You get paid so much for so many shirts. Skinner also looked at variable schedules. Variable ratio means you change the â€Å"x† each ... ...e aversive stimulus of hunger? Skinner (contrary to some stereotypes that have arisen about behaviorists) doesn’t â€Å"approve† of the use of aversive stimuli -- not because of ethics, but because they don’t work well! Notice that I said earlier that Johnny will maybe stop throwing his toys, and that I perhaps will take out the garbage? That’s because whatever was reinforcing the bad behaviors hasn’t been removed, as it would’ve been in the case of extinction. This hidden reinforcer has just been â€Å"covered up† with a conflicting aversive stimulus. So, sure, sometimes the child (or me) will behave -- but it still feels good to throw those toys. All Johnny needs to do is wait till you’re out of the room, or find a way to blame it on his brother, or in some way escape the consequences, and he’s back to his old ways.   Ã‚  Ã‚  Ã‚  Ã‚  B. F. Skinner made numerous contributions to the science of behavior. He strongly influenced the area of learning that he named operant conditioning. His Skinner box is now a standard apparatus for the experimental study of animal behavior. Much of his work involved the study of how reinforcement schedules influence learning and behavior.

Is interactive clubbing the future of nightlife? Essay

Abstract The purpose of this study is primarily to provide a denotative definition of an Interactive Clubbing which was clearly manifested in t. The author first provided essential definitions suggested by credible sources as to the definition of the terms involved in the paper such as clubbing, interactive and then the most important concept of interactive clubbing and then provided a brief history on the origin of clubbing as to the technology being used in traditional clubbing. The methodology in this research included two sets of surveys intended managers (First set) and club goers (second set). The questions in the surveys aimed to have as a result an analysis on what are the technology involved in traditional clubs and whether such innovative installations create a positive impact to club goers and eventually to assess whether an introduction of a new concept such as that of an interactive clubbing would be appealing to frequent club goers. The respondent managers fro the first set of survey questions, came from different traditional and contemporary clubs and existent interactive club. The total number of respondents is 50 managers for the United Kingdom clubs. Most of the respondents are managers of clubs that had operated and remained successful for at least six to ten years. They were also managers in such clubs for three to four years. On the other hand, the respondent club goers for the second set of survey questions, consisted of total number of respondents is 50 club goers fro the United Kingdom. Most of the respondents are frequent club goers ranging from ages eighteen to thirty-eight years of age. In the course of this research, the author proposed an interactive club which comprised of a perfect combination of the theories in technological installation in a futuristic club which can be made possible through the proper application of such theories. Finally, the conclusion provides for an assumption regarding the concept of interactive clubbing as the future of clubbing experience. Introduction Definition of Terms Clubbing, like other ambiguous words pertains to different connotations and denotations. In order to have a concrete and working definition for the purpose of this particular research proposal, it is important to associate the word clubbing to the a certain concept identified in this research. The working definition to be used for this paper shall be associated to â€Å"Night Clubbing† which pertains the common term â€Å"Night Life† which is commonly practiced by the young citizens ranging from teen-agers until the young professionals, sometimes even the professionals under 40 years of age. Activities included with â€Å"Night Clubbing† are social dances, drinking, relaxation and other social activities. Necessary equipments present in every club is a dance floor and a bar side. Such equipments improve and enhance as the history of clubbing grows along with the innovations brought about by the evolution of technology. Moreover, nightclub is often denoted as a venue for entertainment which utilizes music, dancing and drinking as form of relaxation. Interactive is a concept that pertains to the innovational enhancement of a communication environment where in more than a party is equipped and is able to participate in a particular given activity. This definition is provided by the â€Å"Alliance of Telecommunications Industry Solutions (ATIS)†, an organization that specializes in rapidly developing and promoting technical and operations standards for the communication and related information technologies industry worldwide using a pragmatic, flexible and open approach. Combining the two concepts mentioned above would introduce a new era of clubbing apart from the traditional method of the activity as mentioned earlier. The product of the two concepts would give birth to a new concept called, the Interactive Clubbing. According to Sam Radvilla, a Video Jockey (VJ) in one of the clubs in UK, interactive clubbing is the visuals (graphics and video footage) triggered and manipulated by the motion of a dance crowd (sensors) or simply sound waves (microphone or other sound input). It is also the use of real time camera feeds with a visual set to start an optical dialogue between dance floor or audience, screen(s) and stage. Video feedback used by Video Jockeys (VJ) as a symbolic bridge between the digital and the analog world. Playing images with the same techniques and means as electronic musicians use (sampling, pitching, scratching, midi). According to Merriam-Webster Dictionary, Interactive can be define as the involving the actions or input of a user; especially : of, relating to, or being a two-way electronic communication system (as a telephone, cable television, or a computer) that involves a user’s orders (as for information or merchandise) or responses (as to a poll). A Disc Jockey (DJ) is the person in charge and in control of the musical scoring in a club or any social gathering entailing the need of music. The DJ has often the responsibility in keeping the music alive which also means that he has the obligation of keeping the night lively and keep the party going on till it will end. A Video Jockey (VIDOE JOCKEY (VJ)) has almost the same role as that of a Disc Jockey. The only difference is that the Disc Jockey has utilizes only audio Jockey, where as the Video Jockey comments on a video taped program or the Video Jockey does not only make use of an audio but also a video advantage that he can be seen and can interact with people in a visual manner. The innovative offer of live communication provided the possibility of a Video Jockey in Clubs. Most often than not, Video Jockey preferred in social gatherings and clubs. History The history of clubbing started from the cabarets of Europe during the early years of the 19th century and then it evolved into the bight clubs of the United State not far from the 1950’s. According to Lewis (Lewis, 1981) clubbing became popular as daring past time among urban whites, who would even travel uptown to Harlem after hours of music, food and excitement. Regine Zylberberg in her book Moi, mes histoires, 2006, gave a brief overview of the history of clubbing in the United Kingdom. The first member-only discotheque nightclub was opened at Berkeley Square London, in 1962 through the initiative of Mark Birley. This was then followed by the return of rock and roll during the 1970’s which was remixed into disco music from the French discotheque. The early clubbing according to Regine (as she is popularly called) used jukebox or mostly live bands as a source of musical entertainment. She also mentioned clubs having a dance-floor, suspended colored lights and the juke box were eventually enhanced with two turntables which are operated in order to avoid dead breaks between the music, setting into place the standard elements of the discotheque. As clubbing enters the dawn of technological innovations, additional equipments have been added to make clubbing experience become more exciting. DJ’s of the traditional early clubbing are replaced by VJ’s. The lights are enhanced to move along with the beat of the music. The sounds of music are enhanced through larger and stronger volumes of speakers that replaced jukebox. The musical scoring can be manipulated through an audio mixer that has different controls which makes the job of Jockeys easier. When computers were introduced to play a role in audio mixing, automated and readily mixed music and computer generated effects are now being used in modern night clubs all over Europe and the rest of the clubbing industry all over the globe. Issue Since the introduction of a new form of clubbing, technological issues of its probability and the nature of its existence are haunting the interactive media. The issue that this research attempts to resolve is that, whether interactive clubbing will succeed in providing full satisfaction to modern and contemporary club goers, that would make Interactive technology the future. This research would also attempt to provide a denoted definition of interactive clubbing. Relevance of the Study As an interactive media major, this research would serve as an application of all the theories and practices that I have gathered from my learning experiences. Conceptualizing a new form of clubbing through interactive installation would compel me to combine all the different media in order to come up with a multimedia operated clubbing. This research would eventually serve as the action of the theory that has been instilled in me from my years of studying interactive media. This study would benefit the alternative club goers which are looking for more exciting experiences that other interactive clubbing cannot provide. The right combination technological installations would eventually produce a seemingly perfect environment for club goers to become fully satisfied and fully equipped with an interactive clubbing. Moreover, this research would also provide opportunities for the proper utilization of technological equipments and maximizing the fruitful efforts of scientific research in media and in entertainment. Interactive clubbing would further bring clubbing experience to a higher level of satisfaction which was definitely unable to be provided by the old method of traditional clubbing.

Kossans Return And Market Return Essay Example Pdf - Free Essay Example

Sample details Pages: 9 Words: 2737 Downloads: 8 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Chart 1 represents the return of Kossan Rubber Industries and KLCI index. In year 2004, the Kossans stock return is higher than the market return which is 1.1174% and 1.0131%. This implies that Kossan have a high performance in year 2004. Don’t waste time! Our writers will create an original "Kossans Return And Market Return Essay Example Pdf" essay for you Create order The following year, both of Kossan and KLCI index have a negative return which is -1.9569% and -0.0381% respectively. However, the situation has been improved in year 2006. The Kossans return has increase to 8.3246% which is highest return during the five years while the market returns is 1.6952%. Nevertheless, the return of Kossan dropped to -1.1743% in year 2007 adversely market return increase to 2.4065% which is higher than Kossan stock return. In year 2008, both returns are dropped to negative return which is -2.1616% and -3.9557% respectively. It is because the inflationary pressures attributed to 5 fold increases of oil prices. Although the Kossan stock return are negative but it also is higher than the market return. In consequence, overall the five years, the Kossan Rubber Industry have a good performance and well prospective for the future. Industry Analysis Malaysian glove industry started in late 80s and it has been the largest rubber glove exporter in the world for the past 20 years. Malaysia currently controls about 65 percent of the worlds consumption and still remains highly competitive in the world market even for the next 5 to 10 years. The global demand for rubber gloves has increased and expected to grow by 10% annually driven by greater health awareness, more stringent health standards and an aging population. At present though rubber gloves have not been affected much from the global crisis, but the rubber gloves industries are facing stiff competition and higher production costs including latex, crude oil and labor input. Only handful efficient and sizeable glove manufacturers are able to survive and secure the growing demand in gloves. Sime Darby and KLK which were unsuccessful in growing their rubber glove operations would have dominated the industry. Instead, Kossan have successful in its rubber glove operations. It is because Kossans operational efficiency and cost management has managed to minimize the impact of rising costs on operating margins. Kossan is also ambitious and nimble players, who have invested tremendous time and effort to improve quality, achieve efficiency and grow export markets. It is for this reason that the Kossan will continue to dominate the industry as it will become increasingly difficult for new entrants to entry in this industry and achieve economies of scale. Looking forward, Kossans management continues to emphasize on higher value added products, focusing on the premium powder-free medical gloves, both in the natural rubber (NR) and nitrile segments. Its management also appears poised to meet any variance in the consumption trend between natural rubber and nitrile gloves, with the company setting in-place highly versatile production lines. Financials KOSSAN TOP GLOVE SUPERMAX Bursa S.Code 7153 7113 7106 Mkt cap (RMmillion) 372. 5 1083.8 254.7 Mkt price (RM) 2.33 3.60 0.96 YTD price chg (%) (40.3) (44.6) (56.0) Cons. TP (RM) 3.43 4.49 1.55 TP upside (%) 47.2 24.7 61.5 EPS (RM) 0.38 0.37 0.22 P/E (x) 6.1 9.7 4.4 BV/share (RM) 1.97 2.27 1.54 P/BV (x) 1.2 1.6 0.6 Div/share (RM) 0.09 0.11 0.03 Div yield (%) 4.0 3.1 3.4 (Figure 2: YEAR 08 GLOVE PEER COMPARISON) Figure 2 represent the rubber glove peer comparison between Kossan, Top Glove and Supermax on year 2008. Over the all, Kossan Rubber Industries Bhd has a good performance compare to other rubber industries. The EPS of Kossan is 38 sen which is higher than 37 sen (Top Glove) and 22 sen (Supermax). This implies that Kossan have a high earning for each share outstanding compare to other rubber gloves industries. At the same time, Kossan have a RM2.33 market price which is higher than Supermax RM0.96 but lower price than Top glove is RM3.60. This also implies that Kossan Rubber have a high value compare to Supermax. Dividend per share of Kossan is also more than Supermax which is RM0.09 and RM0.03 respectively. Based on Kossans EPS and P/E ratio, we set the fair value of RM3.43, which is 47% above its current market price. For Top Glove, the fair value is RM4.49 which is 25% above its current market price, and fair value for Supermax is RM1.55 which is 61% above its market price. Du e to the intrinsic value is higher than the current market price, so that we duly maintain our buy call. Kossans results have matched our expectations despite facing cost pressures and slower global economic. We like Kossan for its production efficiency, high production capacity utilization rate and its focus on the higher-margin nitrile / NR powder-free glove segment growth. Company Analysis Kossan Rubber Industries Bhd was established in 1979. The companys manufacturing plants are centered within Klang Valley, Malaysia for ease of management and logistic control which translates into better synergistic effects. Its principal activity is manufacturing latex examination gloves, manufacturing and trading rubber products, fabricating and installing machineries as well as investment holding. The companys subsidiaries include Kossan Latex Industries (M) Sdn. Bhd., Perusahaan Getah Asas Sdn. Bhd., Hibon Corporation Sdn. Bhd., Doshin Rubber Products (M) Sdn. Bhd., Ideal Quality Sdn. Bhd., Kossan Engineering (M) Sdn. Bhd., and Top Calibre Sdn. Bhd. During the time, Kossan offered a range of cutless bearings that were often used in the marine industry. With a growing market demand for Kossans products, Kossan Rubber Industries Bhd continued to progress rapidly and was one of the first companies in Malaysia to venture into glove manufacturing. It then introduced the first glo ve production line in August 1988. Today, Kossan has a full capacity of 49 state-of-the-art production lines that are able to produce a stunning 3.9 billion pieces of gloves annually. Kossan joined the Main Board of Bursa Malaysia in 1996 and has been classified as one of the fastest growing companies in Malaysia. Kossans stellar performances and strong reputation of good product quality, timely delivery and excellent customer service, numbers of multinational companies in developed countries have resulted in a business network that extends to more than 160 countries around the world and commanding significant world market share in both rubber products and medical gloves. Kossan products are mainly distributed in countries such as United State of America, China, Japan, Korea, Europe, Canada, Europe, Middle East and Australia. Kossan continued to grow and extend its line of quality products. With wide acceptability of its rubber rollers and cutless bearing, it took a step further to introduce PU products 1988 and Ethylene Vinyl Acetate (EVA) products in 1994. In year 2000, Kossan progressed further by developing high-end rubber products such as bridge bearing pads and bridge expansion joint. These products are created to meet current and possibly, future industrial requirements. In 2001, Kossan chalked a new milestone by becoming the OEM manufacturer of marine dock fenders. The following year, Kossan reengineered the facilities to introduce technical rubber and rubber-to mental bonded automotive parts for OEM and replacement markets. With a progressive management and dynamic outlook, Kossan will continuously strive towards better quality, reliability, and services. Kossan are always thinking ahead and their customers satisfaction will always be the main focus in everything they do and produce. In the year 2008 was a year full of challenges from the inflationary pressures attributed to 5 fold increases of oil prices from under $30 to $147 per barr el in the first half of the year which lead bulk latex prices to spiral and hit a high of RM7.20 per kg in the month of July. High commodity prices and unprecedented increases in energy costs announced by the Government severely impaired the well being of not only the glove manufacturers but also manufacturers and exporters across many industries. The year under review saw Kossan operating in a challenging market environment characterised by great fluctuations in RM/USD exchange rate, record high production cost as a result of stiff increments in natural gas and electricity tariff, and volatile raw material costs including both natural and synthetic latex. Nevertheless, Kossan was able to ride over the challenge and delivered a strong set of financial and operational performance through strong business partnerships with world renowned multinational companies from the developed nations, aggressive capacity growth and focused on manufacturing capability building initiatives. To maintain their market leader position in premium medical gloves and TRPs, the Group will continue to focus on RD. Greater emphasis will be placed on RD activities that are able to bring down overall production cost through more consistent and stable production flows, minimum idle production times, and reduced production rejects and wastages. With more competitive pricing, Kossan Group is well positioned to compete more effectively in the world market. With their concerted RD efforts, they achieved another milestone with the invention of a new generation of nitrile glove which is accelerator free and able to minimize risk of chemical allergy. This nitrile glove offers many advantages to its users compared with the conventional nitrile gloves available in the markets. Supported by encouraging feedbacks from their buyers, they are putting more resources and capacity to produce this new product. Relative valuation techniques Growth rate (g) = ROE ÃÆ'Æ’- b Year Growth rate (g) 2004 0.162 ÃÆ'Æ’- 0.783 = 12.68% 2005 0.18 ÃÆ'Æ’- 0.834 = 15.01% 2006 0.224 ÃÆ'Æ’- 0.814 = 18.23% 2007 0.219 ÃÆ'Æ’-0.831 = 18.20% 2008 0.1974 ÃÆ'Æ’- 0.812 = 16.03% Average growth rates 12.68% + 15.01% + 18.23% + 18.20% + 16.03% 5 = 16.03% 2008 Expected Price/earnings ratio Market value per share Earnings per share = RM 2.88 0.3668 = 7.8517 Expected EPS = EPS ÃÆ'Æ’- (1+g) = 0.3668 ÃÆ'Æ’- 1.1603 =0.4256 Expected market price = 0.4256 ÃÆ'Æ’- 7.8517 = 3.3417 Intrinsic value = Expected market price 1+ Required rate of return = 3.3417 1.021 =RM 3.27 Price/cash flow ratio Market value per share Operating cash flow per share = RM 2.88 57549081/159866976 = 8.00 Expected Cash flow per share = Cash flow per share ÃÆ'Æ’- (1+g) =0.36 ÃÆ'Æ’- 1.1603 =0.4177 Exp ected market price =0.4177 ÃÆ'Æ’- 8 =3.3416 Intrinsic value: = Expected market price 1+ Required rate of return =3.3416 1.021 = RM 3.27 Price/book value ratio Market value per share Book value per share = 2.88 299858657/159866976 = 1.535 Expected book value per share = book value per shareÃÆ'Æ’- (1+g) =1.8757 ÃÆ'Æ’- 1.1603 =2.1763 Expected market price =2.1763 ÃÆ'Æ’- 1.535 =RM 3.34 Intrinsic value: = Expected market price 1+ Required rate of return = 3.34 1.021 = RM 3.27 Price/sales ratio Market value per share Net sales revenues per share = 2.88 897194335/159866976 = 0.5132 Expected net sales revenues per share = net sales revenues per share ÃÆ'Æ’- (1+g) =5.61 ÃÆ'Æ’- 1.1603 =6.51 Expected market price = 6.51 ÃÆ'Æ’- 0.5132 =3.34 Intrinsic value: = Expected market price 1+ Required rate of return =3.34 1.021 =RM 3.27 According to the above valuation, the intrinsic value of the stock price is RM3.27 per share. Below is the Kossan yearly stock price performance during year 2004 to year 2008 . Calculation Of Holding Period Return ( HPR) HPR = Ending Price Beginning Price + Dividen Beginning Price Year HPR 2004 3.15 2.03 + 0.072 2.03 = 0.5872 2005 1.83 3.46 + 0.03 3.46 = -0.4624 2006 4.57 2.02 + 0.046 2.02 = 1.2851 2007 3.88 4.68 + 0.058 4.68 = -0.1585 2008 2.88 3.77 + 0.07 3.77 = -0.2175 Measuring Investment Returns over Multiple Periods Arithmetic Average = Total HPR (%) No. of the period = 58.72% + -46.24% + 128.51% + -15.85% + -21.75% 5 = 103.39% 5 = 20.678% So the annual return is 20.678%. Since this value ignores compounding, it does not represent an equivalent, single quarterly rate for the year. Geometric Average = [(1+HPR2004) ÃÆ'Æ’-(1+HPR2005) ÃÆ'Æ’- (1+HPR2006) ÃÆ'Æ’- (1+HPR2007) ÃÆ'Æ’- (1+HPR2008)]1/5 _ 1 = [(1+0.5872) ÃÆ'Æ’-(1-0.4624) ÃÆ'Æ’-(1+1.2851) ÃÆ'Æ’-(1-0.1585) ÃÆ'Æ’-(1 -0.2175)] 1/5 _ 1 = [1.2839] 1/5 _ 1 = 5.13% A geometric average return is the constant return applied to each period in a range that would result in the compounded return over that range which is 5.13%. Financial Ratio Analysis Financial Ratios 2004 2005 2006 2007 2008       Liquidity Ratio      1) Current Ratio 1.32 times 1.22 times 1.11 times 1.04 times 1.00 times 2) Quick Ratio 0.89 times 0.83 times 0.76 times 0.68 times 0.62 times       Leverage      3) Interest Burden 91% 91% 87% 85% 87% 4) Leverage 1.79 times 1.96 times 2.26 times 2.13 times 2.18 times       Asset Management Ratio      5) Average Collection Period 90 days 80 day 72 day 70 day 61 day 6) Total Asset Turnover 1.23 times 1.35 times 1.53 times 1.45 times 1.51 times       Profitability Ratio      7) Return On Asset (ROA) 14.31% 14.13% 14.84% 14.16% 14.02% 8) Return On Equity (ROE) 16.82% 19.39% 22.47% 24.87% 21.46% 9) Earning Per Share (EPS) 33.22 sen 18.11 sen 24.79 sen 34.46 sen 36.68 sen       Market Ratio      10) Price/Earning Ratio (PE) 9.48 times 10.10 times 18.43 times 11.26 times 7.85 times 11) Market/Book Ratio (MB) 1.51 times 1.82 times 3.82 times 2.46 times 1.54 times Liquidity Ratio The current ratio is an excellent diagnostic tool as it measures whether or not the business has enough resources to pay its bills over the next 12 months. Then, the quick ratio is measurement of the liquidity position of the business. The primary difference between the current ratio and the quick ratio is the quick ratio does not include inventory and prepaid expenses in the calculation. Consequently, a businesss quick ratio will be lower than its current ratio. A current ratio of over 1 is good news, generally. On year 2004, the company Kossan has 1.32 times current ratio, after that, the current ratio has a continually drop to 1.00 times on year 2008. Same at the current ratio, the quick ratio of company Kossan has a continually drop from 0.89 times year 2004 to 0.62 times year 2008. However, the liquidity ratio Kossan has decrease year by year, it still have a good liquidity. Leverage The graph indicates that leverage ratio has increasing steadily from 1.79 times in year 2004 to 2.18 times in year 2008. Leverage ratio is measure of debt to total capitalization of the firm. Too high leverage ratio indicate company will face the risk such as, cant to solve their indebtedness at the time, but too lower leverage ratio indicate company do not efficiency invest their money because too many assets keep on hand. The company Kossan has quite optimum leverage ratio during year 2004 to year 2008 because they maintain between 1.79 times to 2.26 times. Asset Management Ratio Average collection period indicates how rapidly a firm is collecting its credit, as measured by the average number of days it takes to collect its accounts receivable. On year 2004, the company Kossan has 90 days average collection period, that mean the company average can collect all accounts receivable on year 2004 during the 90 days. The company has improves its collection period during the year 2004 until year 2008. It is speed up the collection period. On year 2004 to year 2008, the company has short down 29 days to 61 days on year 2008. The rapidly company to collecting its credit is good for company because the company can use the cash to invest the other place. The total asset turnover indicates the efficiency of the firms use of assets in the sense that it measures the annual sales generated by each RM of assets. We see the result of 1.23 times for year 2004 this means that turnover is 1.23 times bigger than total assets. Another way of saying that is the company Kossan was able to generate sales of RM1.23 for every RM1 of assets it owned. For the year 2006, it was even higher at 1.53 times. For the year 2007, it was drop a lot of times to 1.45 times, but after year 2007 the total asset turnover was rise a lot of times to 1.51 times. Profitability Ratio The return on asset (ROA) is measure the company ability to utilize its assets to create profits. The graph indicates that (ROA) has maintaining around 14.02% to 14.84% during the year 2004 to year 2008, that mean the company Kossan can create around 14% profit for each assets. However, the return on equity (ROE) has increasing steadily from 16.82% in year 2004 to 24.87% in year 2007. The net result that (ROE) increase from 16.82% to 21.46%. It is fall a little from year 2007 to year 2008. ROE is measure the income earned on the shareholders investment in the business. Overall ROE for company Kossan has increase during year 2004 to year 2008. This is good for each shareholders because they can gain more return compare to the previous. Market Ratio The price-to-earnings ratio (P/E) is a measure of the price paid for a share relative to the annual net income or profit earned by the firm per share. The graph show the company Kossan has a highest P/E ratio on year 2006 compare the other year. A higher P/E ratio indicate bad news for company because investors are paying more for each unit of net income, so the stock is more expensive compared to one with lower P/E ratio. However, market-to-book ratio (MB) is measure how much a company worth at present, in comparison with the amount of capital invested by current and past shareholders into it. At the same with P/E ratio, MB ratio has highest on year 2006 compare the other year. A higher MB ratio implies that investors expect management to create more value from a given set of assets. Conclusion From the above information, we can conclude that the stock price of Kossan Rubber Industries is undervalued. While Kossans beta (correlation factor) to the KLCI is 0.179 and based on our forecast the intrinsic value for that stock is about RM 3.27 per share which is 13.54% above its current market prise RM 2.88 per share. So we recommended to the investor to Buy this stock. Besides that we also can see the company performance is better than group Peer Company such as Supermax Company. Earnings is also expected to be more stronger because of additional capacity and a stronger output of higher value added nitrile glove as the management has also made plan to convert some existing latex glove lines to produce nitrile gloves. We like Kossan for its production efficiency, high production capacity utilization rate and its focus on the glove segment growth. Besides that analysis from Standard Poors also suggest Buy recommendation on Kossan with a lower 12-month target price of MYR3 .10. (See Appendix)

Human Society Problems in Nathaniel Hawthrone´s The...

Humans are social animals by nature.This is good, because collaboration is a necessity for advancement. But sometimes, this tendency works against it in the worst of ways, which three works, The Scarlet Letter, written by Nathaniel Hawthorne, The Crucible, A play written by Arthur Miller , and the movie Klass (The Class), directed by Ilmar Raag, all use to display the problems within human society. All 3 works emphasize the human tendency to â€Å"gang up† to avoid being singled out. The connecting theme between these works is that humans group up to avoid being singled out, and will do almost anything to stay in the group. In The Scarlet Letter, the narrator says â€Å"â€Å"Lastly, the inhabitants of the town (their own interest in this worn-out subject languidly reviving itself, by sympathy with what they saw others feel)(ch 22). The author is putting on display how people will change based on what the people around them are doing to not look different. All these new people come to town, and they all stare at the scarlet letter because they have only heard rumors/legends about it. This seems normal, but people who have lived around it every day for several years suddenly discover their curiosity and do the same, solely based on the reaction of the visitors. They just want to belong to the group, and that is what the group is doing, even at the cost of Hesters dignity. They had accepted Hester as much as they would, and that meant leaving her alone for the mo st part. Yet they changed

Beauty Definition Essay - 858 Words

What is beauty? How do we define who is attractive and who is not? Is it the models posing on the front of magazine, or the confident, bright eyed person sitting across the room? Our society and media is full of advice telling us what beauty is or how to become beautiful. As human beings we are drawn to beauty, but what exactly is beauty? The phrase, â€Å"beauty is in the eyes of the beholder,† is accurate since what one may consider beautiful can vary from what another may consider beautiful. Some people say â€Å"inner beauty† is where true beauty lies, or that â€Å"appearance is everything.† While others think that beauty is in ones personality. Since everyone has a different definition and/or opinion of what beauty truly is, or where they can†¦show more content†¦Sam knows she is beautiful and uses it to her advantage by putting on a facade to fool those around her. She acts as though she cares, but is quick to turn her back on people once she has achieved her goal. When one first meets Sam their initial impression of her is a nice attractive girl, but eventually her facade gets figured out. However, that doesn’t stop people from being drawn in by her beauty. Sam’s actions reflect her souls beauty and can be considered her â€Å"ugly side.† While Becca, on the other hand, treats her beauty in a level headed way. She is never without a smile. She treats everyone kindly, encourages those around her, and lends a hand when needed. Becca’s confident and kind personality makes her more attractive than Sam, who uses her beauty to manipulate people into giving her what she wants. Becca’s beauty, in this situation, doesn’t come from her aesthetic appeal, but rather forms out of her benevolence. Her mentality to do good and be kind to those around her shows her â€Å"beautiful soul,† and shows that personality can affect your beauty. Some believe that their beauty comes from the ir outer appearance. These people usually lack self confidence and find ways to make themselves feel more confident through makeup and or clothes. They find comfort in materialistic possessions that make them feel more confident and beautiful. Every year, hundreds of dollars are spent inShow MoreRelatedThe Definition of Beauty Essay905 Words   |  4 PagesSynthesis Essay #2 The definition of beauty is a characteristic of a person, animal, place, object, or idea that provides a perceptual experience of pleasure, meaning, or satisfaction. Beauty has negative and positive influences on mostly people. Beauty is described by the inside and outside of us. Due to beauty, our self-esteem has been hurt dramatically, especially towards girls. Beauty is not always about our outside looks but it’s about our inside personality also. First of all, beauty hasRead MoreBeauty Definition Essay1411 Words   |  6 PagesBeauty The ways people view beauty have changed over time. Beauty has many definitions, and so many people think about it in different ways. Some people like external beauty and some like internal beauty and many people like both together. Beauty controls how people live and think, but it depends on which definition of beauty they choose to believe in. We live in a world that misunderstands the true meanings of pretty much everything. Thousands of years ago people knew and understood what theRead MoreBeauty Definition Essay1126 Words   |  5 Pagestime? Most people judge beauty base on a person’s physical appearance. However, true beauty sis base on a person’s personality and a how a person treat someone else. The hardest thing is to describe beauty because everyone has their own views about beauty. In my opinion beauty has more to with the way someone see portray themselves. The expression â€Å"beauty† was first used in the 14th century as â€Å"physical attractiveness,† and also â€Å"goodness, courtesy.† The meaning of beauty also came from many placesRead MoreBeauty Definition Essay1156 Words   |  5 PagesWhat is beauty? How do we decide who is attractive and who is not? Society is full of information telling us what is beautiful, but that fact is that information based on? The topic of beauty has been studied, analyzed and controversial for centuries. We all know the feeling you can have when you hear a beautiful song that brings joy to your heart, stands in a field of flowers that excites your eyes, or admires a face that is visually pleasing. As human beings, we are all drawn to beauty, but whatRead MoreThe Definition of Beauty Essay1145 Words   |  5 Pagesadvertising to tell us what is beautiful and what is not. Whether we realize it or not, beauty is ultimately defined for us. Products are advertised all around us, tel ling us that something in our life is missing because we do not have a certain product in our possession. Ranging from make-up to plastic surgery, most of this advertising is geared toward women. This can be shown through the advertisements analyzed in this essay. Both ads depict women who are approachable. The older ad depicts simplicity andRead MoreDefinition Of Beauty Essay829 Words   |  4 Pagesthe word beauty or beautiful what do you think of? The way a person looks the way they are on the inside, or is it not even a human but things in nature. The definition of beauty has a very broad definition everyone has their own meanings their own thoughts on the subject. After a lot of research and interviewing two people getting the perspective of a male who I am very close to and a female who is just a girl in my class I have finally come to some kind of idea of what the word beauty really meansRead MoreDefinition Of Beauty Essay749 Words   |  3 PagesBeauty is commonly defined as the combination of qualities that pleases our senses, mostly our sight. Despite this, throughout many years, the concept of beauty has been considered one of the hardest riddles to solve. This happens not only because of all of what it covers, but also because of society’s beauty patterns. Society has been in charge in making people, mostly girls, to feel inferior because they do not complete this â€Å"beauty standards† in order to be considered beautiful. We need to beRead MoreDefinition Of Beauty Essay722 Words   |  3 PagesThere is an English quote, â€Å"Everything has beauty, but not everyone sees it.† The quote is correct in some people’s eyes but not everyone’s, because someone may think the individual is exquisite, but others may see the flaws you don’t. In the research of a well-known Philosophy about Plato, he saw that beauty wasn’t how someone introduced themselves, or how they looked on the outside but instead on how they are inside. The true beauty in some perspectives, is what they been through with their ownRead MoreAn Extended Definition of Beauty Essay1056 Words   |  5 PagesThe subjective element of beauty involves judgment, not opinion. Many people feel beauty is only something seen by the eyes. St. Thomas Aquinas views beauty in both the supernatural and natural orders. Aquinas lists the attributes of beauty to be found in nature. These are; unity, proportion, and clarity. We will see how these attributes of beauty are seen through the eye and felt by the heart. To begin, the concept of unity follows the Aristotelian proposition that nothing can be added to or takenRead MoreBeauty Extended Definition Essay792 Words   |  4 PagesBeauty is something that can be interpreted completely different from person to person. A famous quote that goes along with this perfectly is â€Å"beauty is in the eye of the beholder.† I think a person’s inner beauty should be taken into account when deciding whether or not a person is beautiful. Wikipedia’s definition of beauty is, â€Å"a characteristic of a person, animal, place, object, or idea that provides a perceptual experience of pleasure or satisfaction† while Oxford Dictionary states, â€Å"beauty

Microfinance and Poverty Alleviation

Question: Discuss about theMicrofinance and Poverty Alleviation. Answer: The Effectiveness of Microfinance in Poverty Alleviation Introduction It is through microfinance that the poor are enabled access to sustainable financial services; this makes the role of microfinance a very difficult accomplishment. Churchill and Frankiewicz (2006) noted that its really a difficult task and that why banks have been avoiding it for long. They noted that the bank would have started carrying it out a long time ago if it were an easy task. What makes it difficult to engage into is the small profit margins associated with its operations. The poor people are very many and require small amounts of money. Thus, very many small transactions are involved and are very costly. The working conditions for a microfinance are quite challenging and they cannot compensate for this by charging a higher price. This paper will cover some of the challenges facing Microfinance institutions. It will consider the empirical evidence that actually confirm on how MFIs have contributed to poverty alleviation. Through this, the instances when microfinance is an ef fective tool and also when, will be noted. The founder of Grameen bank Muhammad Yunas started the Microfinance in a small village with small number of people and has become successfully integrated as an effective weapon of poverty alleviation from Asian countries to other countries of the world (Mandal, 2012). Microfinance task force is defined as the provision of credit, thrift and financial products to the poorest people in small amounts (Abdalla, 2013). The major concern of the study is to answer the questions posed by many economists such as; why the rapid popularity that the microfinance is gaining? Is it a business where good money is made? Is it a good weapon for poverty alleviation? Is it profitable? It will also cover the reasons why most investors havent considered investing in a microfinance institution. If it is aimed at dealing with the poorest in the society whose probability of default is very high, is a microfinance sustainable in future? Microfinance if directed tow ards various kind of clients could be more effective that it is today. Whether Microfinance Reduces Poverty There are more than a billion poor people with no access to financial services. Ledgerwood (2006) noted that microfinance have been used in many countries as an important tool of poverty reduction. The regulatory framework for the microfinance is a major concern by the policy makers. He also noted that development could be achieved through the policy makers authorizing and licensing a huge number of MFIs. It is a ways to channel government spending towards achieving development. This statement not only has microfinance proven effective through the decades; it is also practiced worldwide validates the efficiency of microfinance in poverty reduction and thus its an effective programme that has been used for three to four decades (Mandal, 2012). Microfinance is not a subsidy, nor a charity, nor is a down to bottom approach, but its an approach that empowers the poorest section of the society. It was targeted to help those in the rural, urban and semi urban to help them improve their living standards by raising their income levels. The definition of International Labour Organization (ILO) confirms the usefulness of microfinance in poverty reduction. The definition is that, it is an approach of economic development that involve the provision of financial services to low-income clients through various institutions. The integration of development on the effectiveness of microfinance is to help the poor people to meet their level of different needs. The main objecti ve for the initiation of microfinance was to ensure that the immediate credit requirements for the poor people were met. Many other developments beyond saving and credit facilities have been achieved with time. The movement and development of microfinance recently is under a framework that shows how people moves from one level of poverty to another. This framework is under four phases; the financial intermediation, social intermediation, civic intermediation, and livelihood intermediation. The intervention at this phases according to Mandal has proven to be successful for many economies. Xing (2015) noted the following operation of the MFIs. They provide capital to the poor who have no collaterals to access loan from banks; the money lend is small and since the poor are aware that they have to repay this money back, they use it to start a business that would yield cash flows. After completion of repayment, bigger loans are advanced and the businesses keep growing. The MFIs prefer advancing loans at joint group liability to minimize the possibility for default since an individual could easily default by running away from the village, but a group of villagers cannot run away (Dinc?er and Haciog?lu, 2014). Therefore, poor individuals form groups with people they trust (the MFIs are not aware of the riskiness of the people in the society, thus allowing the individuals to choose their group members would result in trustworthy groups; they avoid untrustworthy group in their group making), training is provided, loans are advanced to each individually, continuous monitoring and training continues. Microfinance serves the poor through two broad categories; the delivery and the enabling approach. The delivery approach is based on the opportunity for financial services availability that the microfinance gives to the poor people. This approachs role is to propose financial products and services to the poor and leave them to make their own choices. An example of a model with the delivery approach is the Joint Liability Group which has been an important framework for lending by these institutions. The enabling approach was advanced from the delivery approach and the understanding was broadly engaged by practitioners. In this approach, the group is owned by the member, regulates activities and decides their byelaws. Agbola, Acupan and Mahmood (2017) on their study on whether microfinance reduces poverty noted that poverty level is so extreme such that one person is a group of five is considered to be multidimensionally poor. Their new evidence from the study on Northeastern Mindanao, the Philippines shows proved that microfinance has a positive impact on reducing poverty by increasing savings and income for the low-income group (Mohapatra, 2009). In an analysis of the Indian crisis, it was noted that the role of microfinance in the provision of credit is rapidly expanding. Panagariya (2010) argued that is first important to understand what role the microfinance intends to meet by advancing the loans in the assessment of the microfinance roles and the delivery modes. He noted that the eradication of poverty is the loftiest goal that the microfinance claim. A study on Indian crisis noted that microfinance loans are only a temporary transfer of income so as to smooth a temporal consumption that cannot be considered as an alleviation of poverty. But regardless of what the funding is meant to perform, it helps in the ups and downs that results from a poverty blow. In the rural areas, informal sources are the main contributors of small loans. These sources include; relative, friends and moneylenders. For the formal sources; banks, self-help-groups and the MFIs are the major providers. However, the effectiveness of MFIs have been criticized on the basis of operating for profit. The poor people in many countries have received a remarkable welfare improvement from the MFIs as noted by many evidences. Now the challenge that face these organizations is the issue of sustainability. Income given today will reduce poverty today. What about the future sustainability? Will the MFIs still be able to keep the poverty level lower, or are they going to l ose their gains? An empirical analysis by Katsushi and Azam (2010) on microfinance in rural Bangladesh provided results that confirmed that microfinance has actually contributed positively to poverty alleviation on the group that used the funds productively. In order to facilitate this role, they noted that the MFIs are obliged to monitor their borrowers to ensure that the borrowed funds are not diverted to other uses other than what they were meant for. When and Where Microfinance can be an Effective Tool If MFIs operated on a non-profit making basis, its major role of poverty alleviation would be enhanced since these institutions would avoid diverting the funds to other uses that are more profitable. Since they are allowed funds access at a low interest rate, they should stick to their primary goal of helping the poor. They should not be allowed funds access at a lower interest rate and at the same time be allowed to invest in profitable projects. The MFIs could be more effective if they were more efficient in monitoring the usage of the borrowed funds. The major reason why most people default on their loans is that they fail to observe the initial intentions before the loan is advanced. If the MFIs would come up with a better strategy to ensure that funds are used appropriately, cases of default would be minimal and the effectiveness of microfinance would be restored. Katsushi and Azam (2010) argued that irrespective of the purpose the loan is intended for, productive loans should r aise the consumers income and reduces the poverty whip. They also noted that in the past years (1998 specifically), this can be confirmed to be true since the loans helped in reducing poverty level significantly. This effectiveness has greatly reduced in the current decade. This means that MFIs are not targeting the proper clients. An improvement on the target group would result in a significant drop in poverty level. The limitation of microfinance should not be on the credit saving goal alone but should also seek to go beyond this. In addition to meeting the financial needs of the poor, it should also seek to meet the social, political, cultural and economic needs. If it achieved this role, the empowerment could be considered to be true and sustainable. An effective microfinance is the one that address other issues beside the need for basic goods. In a rural area where people only have land as their only asset, and furthermore this land is owned communally, it is difficult for a single member to use such an asset to obtain capital from a bank. This is where the importance of microfinance comes in; these people are able to obtain capital without providing any asset as collateral. Generally, MFIs can be argued to supplement the financial gap that banks have failed to close. It play similar role to that played by banks where potential investors borrow to start new innovations or for business expansions. Women are the target group by MFIs (Katsushi and Azam, 2010); this is the group that is said to be responsible spenders. Men are exposed to too many unnecessary spending such as alcohol consumption, cigarettes, etc. Very few women are exposed to such cases. Therefore lending to women could really help in poverty reduction in their homes. This would result in the microfinance being considered to be an effective tool. There is an argument against the most vulnerable people being excluded from the MFIs clientele. This is because they are considered creditworthy borrowers and are required to provide grants in order to access the loans. But the major question is who could guarantee a loan for a person who is greatly whipped by poverty? Of course none. This explains why poverty level goes up even with the presence of MFIs. If the most vulnerable and real poor could have access to microfinance loans, definitely the poverty level will greatly be reduced. Microfinance for Integrated Development All around the world, microfinance institutions currently have been progressive in introducing other services and products beside credit facilities and savings. It has been argued that microfinance has been found to be the most lucklative and best way to address the community, and has also been found to facilitate the provision of other services. Microfinance and the Fight against Hunger and Malnutrition The most critical problem facing developing countries is that of hunger. Food security is the biggest worry that face the biggest proportion of the world economies. The following are 3 criteria for food security; The food is available in sufficient quantities, appropriate quality, and is supplied through either domestic production or imports. Individuals and households have access to adequate resources and the food they acquire be of high quality for nutritious diet. Food utilization through sanitation, water, adequate diet, and health care. It can be noted that not only does hunger extremely whip the poorest in the society, it also involves, water, sanitation, adequate diet and health care. This has created the rationale for the initiation of incentives to fight hunger on the vulnerable group. Criticisms Some evidence noted that the loans offered by these institutions are between the poor and the non-poor but nowhere to deal with the poorest. Nowadays, MFIs do are in competence with formal financial institutions since they are looking forward to making short term profits that would sustain them to the future. This has resulted them in avoiding the group that actually need their help to another level of the lower poverty class; these are the poor, whereas its meant for the poorest. According to Panagariya, sustainable poverty eradication hasnt yet been recorded anywhere. The microfinance scholars has claimed that there has been no evidence for the claim that microfinance have had a significant influence on poverty reduction. Since collateral is not available to the poor entrepreneurs, they always remain unfunded which undermines the primary role of microfinance. Hard evidence on the success of microfinance on the alleviation of poverty is unavailable. The microfinance associates have observed that funding mostly goes to high returns projects which is contrary to the intended objective. Though the commercial banks window of concessional priority-sector-lending allows the MFIs to access low-interest funds, they are making huge profits from this by lending to profitable projects rather than allowing the poor to access it at a lower rate. The findings from empirical evident has created an insight that MFIs have not only concentrated their financial activities on the peri-urban and the urban dwellers, they have shifted to offering their credit to only those with moderate income level. Further, the products offered are profit based or are concentrated in a common geographical location; this has deterred the incentives to include the most vulnerable such as the orphans in to system either directly or indirectly through their guardians. The concentration of microfinance on women clienteles has created disputes in many homes due to the man being discourage by the woman having a greater income than the man and thus undermining his manhood. This results in fights in these homes. It also increases the debt level for the low income group especially when they losses their paying ability. Lastly, microfinance is not universally applicable to the sick, the old, young, the physically challenged, and also for the mentally challenged (Telesca, Stanoevska-Slabeva and Rakocevic, 2010). Conclusion Many empirical evidence have confirm that microfinance have had significant positive contribution in poverty eradication. However, there have been a degradation of its effectiveness over time. If proper action and the right policies are put in place, the primary role of MFIs would be greatly enhanced. Most MFIs and non-governmental lending organizations have agreed with the argument that funding the poor through microfinance would result in poverty alleviation through increment in income and savings. The effectiveness of the microfinance in poverty reduction could be improved by provision of monitoring of a higher level and ensuring that loan purpose is observed. MFIs offer group lending where no collateral is require as the groups use guarantee systems (Gasco? Herna?ndez, Equiza-Lo?pez and Acevedo-Ruiz, 2007). Due to the MFIs becoming much profit oriented, it has deprived the most vulnerable group and the real poor the access to microfinance loans which has resulted in many people l iving below the poverty line. The staggering potential of microfinance has started being recognized by many world economies. Economies with better regulations for their microfinance have benefited much from its importance role of reducing poverty. The operation of MFIs on many economies have not been effective and thats explain why some economies have no recognition on the importance of microfinance. Recommendations Since its the role of the government to maintain income equality in an economy by alleviating poverty, it should use this paper to clearly confirm from the provided empirical evidence that the microfinance is an effective tool. It should therefore formulate various policies and reforms that would assist the microfinance institutions to expand and more to be initiated. Improvement in access of financial products and serviced would be a greater tools for poverty reduction. Owing to the critiques provided above, the government besides promoting access to credit, it should also regulate all microfinance to ensure that their possibility for deviation from the intended role is lowered. Microfinance could be made better off and achieve great results; but this requires an understanding of the strengths, challenges and limitations that are faced by its operations. The government should also subsidize the microfinance to ensure that they will be sustainable in future even with no profits. It could also provide insurance against the falling of such institutions. The policy makers should have a clear understanding of the intended roles of microfinance and set appropriate regulations. The government should ensure that MFIs are non-profit based to enhance their efficiency. The most vulnerable group should be the most important clientele for microfinance firms and this should be monitored by the government to ensure that the regulations are followed. References Abdalla, A. (2013). The influence of financial relations on sustaining rural livelihood in Sudan: reflecting the significance of social capital in the village Al Dagag, North Kordofan State. Agbola, A., Acupan, A. and Mahmood, A. (2017). Does microfinance reduce poverty? New evidence from Northeastern Mindanao, the Philippines. [Online] Sciencedirect.com. Available at: https://www.sciencedirect.com/science/article/pii/S0743016716305733 [Accessed 30 Apr. 2017]. Churchill, C. and Frankiewicz, C. (2006). Making microfinance work: managing for improved performance. Geneva, ILO. Dinc?er, H. and Haciog?lu, U. (2014). Global strategies in banking and finance. Hershey: PA. Gasco? Herna?ndez, M., Equiza-Lo?pez, F., and Acevedo-Ruiz, M. (2007). Information communication technologies and human development: opportunities and challenges. Hershey, Idea Group Pub Katsushi and Azam, S. (2010). Brief 37: Does microfinance reduce poverty in Bangladesh? New evidence from household panel data. [Online] Ifad.org. Available at: https://www.ifad.org/topic/tags/drd/2188587 [Accessed 30 Apr. 2017]. Ledgerwood, J. (2006). Transforming microfinance institutions. Washington, DC: World Bank Pubns. Mandal, V. (2012). Saving Humanity: Swami Vivekanand Perspective. G.B.Pant University of Agriculture and Technology: Pantnagar, uttarakhand. Mohapatra, S. (2009). Cases in management information systems. New Delhi, PHI Learning. Panagariya, A. (2010). Does Microfinance Reduce Poverty? An Analysis of Indias Crisis. [Online] Brookings. Available at: https://www.brookings.edu/opinions/does-microfinance-reduce-poverty-an-analysis-of-indias-crisis/ [Accessed 30 Apr. 2017]. Telesca, L., Stanoevska-Slabeva, K. and Rakocevic, V. (2010). Digital Business. Berlin, Heidelberg: Springer-Verlag Berlin Heidelberg. Xing, V. (2015). How does microfinance reduce poverty? [Online] Available at: https://www.quora.com/How-does-microfinance-reduce-poverty [Accessed 30 Apr. 2017].

The Pit Review Essay Example

The Pit Review Paper Essay on The Pit I do not know that I suggested an idea to read Pit Kuprin. Perhaps the desire to read something from the classics, but something a little different, something is not quite standard. It was then that I remembered about a review that read on this work. Now I want to share and your impressions. Lets start in order As it prepares us for reading, Kuprin wrote: I know that many people will find this story immoral and indecent, nevertheless with all your heart dedicate it to mothers and young people. Indeed, immediately after the publication of Pit on the authors criticism has fallen almost from all sides. His porekali and accused, but the book still lives, while still an interesting and fairly urgent The plot is simple:. Before us is the life of prostitutes in a brothel on Yamskaya Street, dubbed in common pit. The author describes in detail the life of each of them, her personal traits and thought hard. Gradually, with each of these night butterflies we live a lifetime, learning that led her to such a slippery slope, and how it ended. Personally, Im reading a book in our time, I did not see anything in it indecent. The author describes the inner experiences and thoughts of his characters, not plunging deep into the intimate details of their craft We will write a custom essay sample on The Pit Review specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Pit Review specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Pit Review specifically for you FOR ONLY $16.38 $13.9/page Hire Writer I will say more:. I see no reason for the criticism that befell the author after writing this story. Yes, this topic did not dare to touch no one before him. Yes, prostitution it seems to be a taboo subject. But what kind of criticism can be discussed in a society where brothels are legal? To reflect is about what. These borrowings. If there are interested, be sure to read