Modernism, Postmodernism

The youth agriculture of the 1960s represents the threshold amongst modernism and what, in most circles, passes for postmodernism. On the one hand, it is clearly an lengthening and reinvention of the historical avant-garde, and, on the former(a), it signals the increasing obsolescence of the (modernist) divide in the midst of elite and concourse culture, between the fine artisanal and the mechanically reproduced.Reacting against the universalizing tendencies of high modernism (from abstract lookism to the external style), and its loyalty to seriousness, abstraction, and elegance, the unseasoned artists delighted in extending the range of art, in juxtaposing the exalted and the abject, the unutterable and the profane, in universe vernacular and relevant, and in rudely transgressing bourgeois norms.From the sign of view of post-modern theory, the recent history of turn outular practice of medicine can be seen to be marked by a trend towards the open and commodious mixing of styles and genres of symphony in precise direct and self-conscious ways. flummox very simply, the argument about the transition between modernism and postmodernism in pop medication can be seen as the Beatles in the 1960s. The songs of the Beatles move explicitly on diverse classical and commonplace forms and made a claim to what was for pop a hot kind of melodic and melodic seriousness.Postmodernism first emerges out of a generational refusal of the categorical certain(a)ties of high modernism. The insisting on an absolute distinction between high and popular culture came to be regarded as the unhip assumption of an older generation. One sign of this get together can be seen in the merging of art and pop melody. For example, diaphysis Blake designed the cover of the Beatles Sergeant Peppers Lonely Hearts Club Band.Jameson (1991) distinguishes between modernist and post-modern pop music, making the argument that the Beatles and the curl Stones represent a modernis t moment, against which seamy waver and bleak wave can be seen as post-modern. In Popular Music and Postmodern Theory, Andrew Goodwin (1991) quite an correctly argues that for various reasons this is a very difficult position to sustain. The Beatles and the Rolling Stones are as disparate from each former(a) as together they are different from, say, the crash and Talking Heads. In fact, it would be much easier to make an argument in which the distinction is made between the artifice of the Beatles and Talking Heads and the authenticity of the Rolling Stones and the Clash (55).Perhaps the best way to think of the blood between pop music and postmodernism is historically. In most accounts, the moment of postmodernism begins in the late 1950s-the same current as the emergence of pop music. Therefore, in terms of periodization, pop music and postmodernism are more or less simultaneous. This does non necessarily fuddled that all pop music is post-modern. Using Raymond Williamss model of social formations forever consisting of a hierarchy of cultures-dominant, emergent and residual-post-modern pop music can be seen as emergent in the 1960s with the late Beatles, and the escape from music of the counter-culture, as superstar examples, and in the 1970s with art school hoodlum, to become in the late eighties the cultural dominant of pop music.It is also possible to see the utilization of pop music and the surrounding pop music culture as in itself post-modern. Instead of an approach concerned with identifying and analysing the post-modern text or practice, we might demeanor instead for postmodernism in the emergence of particular patterns of consumption people who actively seek out and celebrate pastiche. The notion of a particular multitude of consumers, people who consume with irony and take pleasure in the weird, is very suggestive.Flirtations with Eastern mysticism in the 1960s brought new influences the success of the Beatles, and George Harrison s fascination with the Indian sitar, increased exposure to Indian music and to Ravi Shankar, plausibly the first distinct world musician, un questionably promoting musical sounds and structures quite different from those in the West. Prior to the successes of Miriam Makeba, Ravi Shankar and Manu Dibango, the first African musician to attain an internationalist hit, and whose music helped usher in the disco era (Mitchell 1996), musicians with exceeding local and regional popularity were early(a)wise largely unknown in the West, because their music was unfamiliar and inaccessible, and the words incomprehensible (hence Western recording companies took little interest).The Beatles quest for mysticism, enlightenment and innovative sounds (which could be incorporated in Western musical structures, rather than being given a life of their own) was the forerunner of other Western performers similar searches for authenticity and difference. Paul Simons Graceland (1986) recorded incline lyrics over tracks performed by black South African bands and the vocal chemical group Ladysmith Black Mambazo.As many critics noted, persuade may have been the most popular and influential art form during the late 60s, the deepest means of communication and expression that negotiated the incompatibility of the post-modern with the preindustrial by attempting to unite a mass culture with a genuine folk culture. In the mid-Sixties, electricity, poetry, sex, and rhythm mixed with another combustive element, doses, to create psychedelia. Baby boomer parents worshipped doctors and high medicine and avidly ingested antidepressants and other medications to achieve altered states of mental and physical health.Likewise, baby boomers drug experimentation aimed for transport to a new personal and world intellect that would eliminate human barriers class, race, ideologydividing their parents world. By 1965, a suite of drugs coursed by dint of the rock community. Dylan and marijuana influ enced the Beatles Rubber Soul (1965), a folk rock record of soft edges and personal introspection. Attracting a male following, The Who, the Mod heroes, thrashed finished early singles such(prenominal) as Anyway, Anyhow, Anywhere and My Generation with amphetamine-fed punk fury.Acid rock borrowed sounds, scales, chords, and rhythms from around the world to distort space and time. The Beatles adapted Indian ragas and modal jazz to dislodge the rhythmic anchor and erase the quaternity cardinal directions. In England, the Beatles were introduced to acid in 1965 they recorded Revolver a year later. Their variable tape speeds, tape loops, backward guitar and voice lines, and other experiments transformed basic rock and roll chords, beats, and voices into a tableau of acid-soaked sound, rhythm, and poetry. peculiarly disorienting was Tomorrow Never Knows, an early trance-rock number. Ringo Starrs bass drum figure, a human heartbeat, kicked time in reverse, while John Lennons filtered v ocals, chants inspired by the Tibetan Book of the Dead, seemed piped in from creation.In a key contribution, Postmodernism, or the pagan Logic of Late Capitalism, Jameson overviews postmodernism as the cultural expression of a new phase of capitalism, characterized by communications technologies facilitating the virtually instantaneous shifting of international capital, the emergence of new centres of capital (e.g. Japan) in a global economy, new class formations breaking with the traditional labour v. capital division, and a consumer capitalism which markets style, images and tastes as much as actual products. The commoditization of culture has resulted in a new populism of the mass media, a culture centred around the marketing and consumption of stand ups and appearances, epitomised by the ubiquity of commercial television.Despite its obvious plausibility as a general explanation of developments in popular culture, postmodernism suffers from a number of difficulties. To severe ly generalise, these are its frequent lack of specificity its overpreoccupation with texts and audiences at the expense of locating these indoors the economic and productive context within which cultural products reside its lessening of history and politics and its ignoral of traditional sociological notions of production, class and ideology.The postmodernist view of rock music regards it as exemplifying the collapse of traditional distinctions between art and the commercial, the aesthetic and the unaesthetic, and the authentic and unauthentic. This view is most prominent in discussions of music video, with its affinities to advertising (Kaplan 1987). Popular cultural texts of the Beatles are regarded as dynamic not static, mediated both by patterns of economic and social organisation and the relationship of individuals and social groups to these patterns. This puts politics in a position of central importance, as culture is viewed as a site of conflict and struggle, of negotiatio ns which constantly defend and redefine the existing conditions of domination and subordination in society.Against the backdrop of these cultural studies signposts, the construction of meaning in rock can be seen as embracing a number of factors the music industry and its associated technologies, those who create the music, the nature of rock texts, the constitution of rock audiences and their modes of consumption, and attempts to influence and regulate all of these. The persona of the music industry, in its drive to commodify rock and maximise profits, is the starting leg for understanding rock.In film or in rock a certain historical logic can be reintroduced by the hypothesis that such newer media recapitulate the evolutionary stages or breaks between realism, modernism and postmodernism, in a compressed time span, such that the Beatles and the Stones occupy the high modernist moment corporate by the auteurs of 1950s and 1960s art films.Although animation was used in the earl y days of filmmaking and became just another form of studio production, it underwent regretful changes in the late twentieth century. A major break in such style occurred with the Beatles animated film, Yellow Submarine (1968). Not moreover was the colour startling a psychedelic experience of sorts, as almost commented but the animation also used a mixture of media that inspired what was later called the blendo style in which cels, cut-outs, clay figures and more recently information processing system graphics are blended (Cohen 1998).The application of postmodernism to popular music is mainly based on two perceived trends firstly, the increasing evidence of pastiche, intertextuality, and eclectic method and, secondly, increased cultural fusion and the collapsing of high-low culture type distinctions in rock. However, rock history demontrates that the first trend frequently actually reaffirms the distinctions supposedly being broken down in the second trend. Post-modern mus ic clearly contributed to the progressively global nature of cultural and economic linkages, mapping out new networks of commodity flow and entrepreneurial activity.At least at a surface level, all countries popular musics were shaped by international influences and institutions, by international capital and technology, by global pop norms and values. Even the most chauvinistic soundscarefully cultivated folk song, angry local dialect punk, hold (for the tourist) traditional dancewere determined by a critique of international entertainment. The rise of rock n roll, the success of the Beatles, alongside transitions in other cultural forms, ensured some measure of ubiquity.ReferencesCentore, F. F. (1991). Being and Becoming A refresh of Post-Modernism, Greenwood Press natural York.Goodwin, Andrew. (1991). Popular Music and Postmodern Theory, heathen Studies, 5.Jameson, Fredric (1991). Postmodernism, or, The Cultural Logic of Late Capitalism, Durham, NC Duke University Press.Kap lan, E.A. (1987). Rocking Around the Clock Music Television, Postmodernism, and Consumer Culture, New York Methuen.Mitchell, T. (1996). Popular Music and Local Identity, Leicester University Press, London and New York.

Unit 6 p7 Health and Social Care

P7- Describe the roles, responsibilities and railroad cargoner pathways of 3 health or neighborly car tenders. Social worker Social workers form relationships with people and assist them to lie with much successfully indoors their local communities by helping them stimulate solutions to their problems. Social work involves engaging not only with clients themselves but their families and friends as well as working closely with other organisations including the police, local billet departments, schools and the probation value.Social work flock be a stressful career, you indispensableness to be well organised as there is a significant level of administrative work and time management skills are crucial. A friendly worker is expected to assess, review and maintain records of particular proposition cases, totally within certain timeframes whilst achieving set standards of care and providing service users and their families with the help they motif. The role and duties of a kind worker are broad and varied, but generally they allow in the provision of guidance and support, with a main focus on allowing the service user to eventually support themselves as much as possible. alike(p) article Unit 4 M1A social worker has a specific role and must register with the Social electric charge Council in purchase order to work as a social worker. Social workers also cede to show that they have undertaken the necessary training and development. There are some(prenominal) tasks that only a registered social worker employed by a local authority may undertake. These entangle Undertaking child auspices investigations. Undertaking initial, core, foster and adoption assessments. Developing and driving the Child protective covering (or CIN) plan. Initiating legal proceedings to apply for a range of orders including admitting children to the care governance and placing them for adoption.There are various routes to becoming a social worker, but you lead need to ga in a professional qualification in social work (normally at pointedness level) either on a regular or part-time basis. This is straitsed at undergraduate and postgraduate masters level. It is also possible to take a degree course feature social work with mental health or learning handicap nursing. To become a social worker, you will need a social work degree. The degree course takes 3 years to complete in England, Wales and Northern Ireland and 4 years in Scotland.Before being accepted onto a social work degree course, you will need to demonstrate that you read what social work is about and have had some kind of nonplus in social work or social care. Your previous beat could be paid work experience in a related field such as a carer or it could be unforced experience within a care or social work setting. It will help you to assess your own strengths and weaknesses, as well as providing an understanding of just what sort of work is involved in a career as a social worker.De mand for social work degree show ups is extremely high so the better your tracks and the quality of your relevant experience, the more chance you will have of gaining a place. To get a place on a social work degree course in England you will need A negligible of 5 GCSEs at grade A* to C 2 of these MUST be position and math You will also need a minimum of 2 A levels At some universities this requirement can be higher. You will need to check the requirements at the university of your choice.Middlesex university, London Admission to the MA Social croak degree at Middlesex University requires a higher second class honour degree or above (i. e. 21 or above). world power to pass written and numeracy tests at GCSE grade C level (tested as part of the selection process). The university of Northampton Applicants must have grade C GCSE maths and grade C English or equivalent. A typical spree would be 260-300 UCAS tax points. National earnings selective information National Sala ry Data Salary? 19,196 ? 32,666 Bonus? 0. 00 ? 3,013 Total present ? 19,166 ? 37,005The average wage for a Social Worker in the UK is ? 29,074 Midwife Midwives often show their job as privileged. The role they have in preparing women for the delivery of stark naked life makes them a vital presence during all stages of pregnancy, labour and the previous(predicate) postnatal period. The role is demanding and carries mickle of responsibility. More midwives now work in the community, providing services in womens homes, local clinics, childrens centres and GP surgeries. There also plenty of opportunities for midwives to work on antenatal, labour and postnatal wards and neonatal units.There are currently no national minimum academic entry requirements for entry into obstetrics courses. As a consequence, each higher education institution (HEI) data track courses sets its own criteria. All applicants must be able to demonstrate show up of literacy and numeracy. For numeracy this includes evidence of ability to Accurately manipulate numbers as use to volume, weight, and length, (including, addition, subtraction, division, multiplication, use of decimals, fractions, and percentages) to include using a calculator.For literacy this includes evidence of ability to express and comprehend (in English or Welsh) and to communicate clearly and effectively in writing to include using a word processor. For entry onto a pre-registration degree programme in midwifery, you will need a minimum of five GCSEs at grade C or above (typically including English language or literature and a science subject), plus both A levels or equivalent (although in practice, you are more likely to need three A levels or equivalent). Universities require (Birmingham city university) GCE A/A2 level 00 UCAS tariff points from a maximum of three A/A2 level passes which must include one of Psychology, Sociology, biological science, Health and Social supervise or Human Biology at Grade C or a bove. A typical offer would be ABC. BTEC Extended Diploma in Health and Social Care Minimum Grade DDD required. GCE AS/A1 level Two subjects accepted with two GCE A/A2 Levels which must include one of Psychology, Sociology, Biology, Health and Social Care or Human Biology at Grade C or above. Must achieve a minimum of 300 tariff points. GCE/AVCE geminate Award in Health and Social CareGCE/AVCE Double Award with be UCAS tariff points from a maximum of one GCE A/A2 Level. The minimum starting line salary for newly qualified midwives in the NHS is ? 21,176 at Band 5. Midwives usually progress to Band 6, which starts at ? 25,258, after a minimum of 12 months and a maximum of 24. Subject to attainment within the NHS Career simulation salaries can rise to ? 34,189. The range of typical salaries at senior level, e. g. those managing a team, research or teaching activities, or with specialist knowledge is ? 30,460 ? 40,157. physical therapistPhysiotherapists help and treat people of al l ages with physical problems causes by illness, cerebrovascular accident and ageing. Physiotherapy is healthcare profession which sees human movement as primaeval to the health and eudaemonia of individuals. Physiotherapist help and treat people of all ages with physical problems caused by illness, accident or ageing. Physiotherapy is a healthcare profession which sees human movement as central to the health and well-being of individuals. Physiotherapists identify and maximise movement potential through health promotion, incumbrance healthcare, treatment and rehabilitation.The core skills used by physiotherapists include manual therapy, remedial exercise. Physiotherapists also have an appreciation of psychological, cultural and social factors which influence their clients. numerous physiotherapists work within hospitals. Here they are needed in to the highest degree every department, from general out-patients to intensive care, where round-the-clock chest physiotherapy can b e vital to keep unconscious patients breathing. The minimum entry requirements are the same for all degree courses, but due to completion for places, it agency that conditional offer for places are set higher than minimum. oure required to have 5 GCSEs at grades A-C, which should include maths both English language and literature and a selection of science subjects, and 3 A-levels at grade A-C, which one them should be biological science. National Salary Data National Salary Data Salary? 18,358 ? 40,716 Bonus? 0. 00 ? 2,936 Total Pay ? 18,774 ? 46,724 In 2008, the average salary for this job was ? 27,000. The average salary in 2009 was ? 25,257, The average salary in 2010 was ? 48,743 The average salary in 2011 was ? 28,506

Policy Analysis Paper: Mental Health Essay

IntroductionThis paper forget discuss the indispensability for kindly form _or_ system of government change in regards to the genial wellness placement (or lack thereof) inside the join States as well as internationally. The use up for reform is tantamount in arrangement for marginalized groups with psychic disabilities to function well-beyond their capacities. An analysis of form _or_ system of government is claimed to better understand the challenges that face up-to-date kind workers and mental wellness professionals at this time. thitherfore, this paper pass on discuss eighter obligates that pertain to the fond work school of thought, and result be habituate to a big(p) degree in making an argument for social reform.The peer-reviewed, scholarly obligates be presented and discussed to frame a basic foundation on what necessitate to be d whiz, and if these changes argon feasible in nature to our society. Since the report is on psychogenic wellness restitution, it is master(prenominal) to none any(prenominal) biases or hesitations that a social worker may have towards intellectual and mentally handicapped persons, and view this paradox with an open mind free from forbid beliefs.Looking at this in the broad sense, this is not just a pecuniary chore, nor a personal problem, but earlier, this is a societal problem. There be some(prenominal) different ways in which mental wellness dis drifts brush off be attributed to. Crime, drug addiction, and many an(prenominal) an(prenominal) other(a) pointors argon conjugate to some mental wellness issues. Depression, which affects millions creationwide drop be hard-boiled through cognitive behavioral therapy. The best way to treat this problem would be keep onion, and that is something that the United States, and the world has been lacking for quite some time. It is beta to discuss this issue and provide long-term answers now, lest we face more than financial burd en and social burdens due to our own ineptitude.See more how to spell an analysis paper on an article examplesLiterature ReviewThe archetypical article that leave be discussed for this analysis is titled intellectual wellness and P everyplacety in the Inner City. This piece of literature examines the correlation amidst the rise in urbanization and mental health problems (Anakwenze & Zuberi, 148, 2013). It is a fact that the number of deal who live in urban populations steadily increase within the millennium and is projected to go up in the side by side(p) decade (Anakwenze & Zuberi, 148, 2013). This article provides evidence linking the rise of the urban population to the emergence number of mental health disorders within it.Living in a densely populated atomic number 18a depose bring most many factors that back tooth stimulate mental health problems. Noise, pollution, and lack of adequate super acid space are some of the problems that persons face within cities (Anakwe nze & Zuberi, 148, 2013). It is no ask that mental health is of vital importance to the urban population, particularly the urban poor. Poverty is a strong characteristic of city life, and thus, it is necessary to define if there is causation in the midst of city-life and mental instabilities (Anakwenze & Zuberi, 148, 2013).The article argues that the race between an urban environment and mental health problems can be expound as cyclical and non-linear (Anakwenze & Zuberi, 148, 2013). The cycle is reinforced through poverty and this can nurture mental illness if not properly fasten onn cautiousness of. The authors challenge current mental health policy and advocate for a strategy that specializes in prevention and treatment across all populations (Anakwenze & Zuberi, 148, 2013).Crime, kernel abuse, and other mechanisms that originate from urban environments can have a bi- committeeal relationship in regards to mental health and urbanization (Anakwenze & Zuberi, 148, 2013). T hey reinforce each other, causing a strong hold around the community. It is necessary for a current mental health policy to advocate for interventions within individuals and institutions in order to promote a heavy deal(prenominal) an improvement in urban life. The many mechanisms that father socio-economic disparities are outlined in great detail within the article for example, dense and diverse populations, cancause great stress to the individual (Anakwenze & Zuberi, 149, 2013). It requires a person to be homogenous in their frame for social cyberspaceing and diversification (Anakwenze & Zuberi, 149, 2013). The advocacy for a better social policy for urban environments cannot be valued enough. The second article, titled high-flown Challenges Integrating intellectual health Services into Priority wellness look at Platforms highlights the necessity for compound mental health aid into global programs designed for health.This synthesizing of mental health policy into glo bal health can have a significant impact in the lives of many individuals all across the globe (Patel et al.,1, 2013). The authors declare that mental health problems are among the most frequent and disabling conditions within the planet. It is in-chief(postnominal) to have everyone recognize the gravity of the situation and not take mental health lightly, because it is associated with chronic health problems that can worsen over time (Patel et al.,1, 2013). If unexpended untreated, mental health disorders can have a significant impact on ones self- misgiving and can be linked to increase morbidity and mortality around the world (Patel et al.,1, 2013). unproductive treatments can also increase the cost of health conduct and decrease productivity at work, requiring employers to cut costs and become ineffective themselves (Patel et al.,1, 2013). Knowing this, it is important to billet that effective treatments for common mental health problems that plague the wide population can be utilized in order to cooperate those in posit (Patel et al.,1, 2013).However, current policies do not allow comfy access to such treatments, therefore, reform is needed to adopt original that race have access to the treatments they deserve. The authors argue for a more cohesive network for doctors and patients to communicate somewhat mental health (Patel et al.,1, 2013). For example, there are slight psychiatrists in the continent of Africa, than there are in the state of mummy (Patel et al.,1, 2013). Even in developed countries such as the United States, particular contend facilities are the governing parties involved in the mental health perplexity system (Patel et al.,1, 2013). This does not allow for adequate treatment and can exacerbate problems even raise (Patel et al.,1, 2013). The article states that there needs to be integration in regards to primary care facilities and mental health professionals. The adjoining article, Service development for intellec tual disability mental health a human propers approach talks about the populationof people with intellectual disabilities (ID) in regards to mental health reform.The authors state that people with intellectual disabilities take over from major(ip) mental disabilities more frequently than their peers (Evans et al., 1098, 2012). Thus, it is imperative to review the current mental health policy and if necessary, change it to better casing the development need for people with intellectual disabilities (Evans et al., 1098, 2012). The article uses the mental health policies in Australia as an example, appraising the standards set up by the United Nations on the rights of persons with disabilities. The article demonstrates the need for an in-depth analysis on mental health care on a global scale and moldiness understand the trope in which mental health policies are shaped (Evans et al., 1098, 2012). They use the human-rights poser as the perspective in which to base all mental health problems accordingly. Public mental health run must be certain of the ever growing number of patients with intellectual disabilities and plan accordingly to suit the needs of this population (Evans et al., 1098, 2012).In order to adequately perform these services, great amounts of funding is required to create a st able-bodied environment in which to get help for mental disorders (Evans et al., 1109, 2012). This is the problem the authors face and recognize. However, they urge to consecrate more funding into the mental health system because mental health should be higher on the priority for the population than most would piddle (Evans et al., 1109, 2012). They see it as an investment into the well- be of the community. Considering the human-rights approach, it is necessary to improve specialist services and apply better social practice foundations to help these marginalized groups (Evans et al., 1109, 2012). moral Health Parity Moving Closer to an Effective National Policy sta tes that mental illness is one of the most leading causes of disabilities in labor union Americans between the ages of 15-44 (Hebert, 28, 2009). Even with this wide and diverse population, the problem of mental illness still goes unrecognized in the eyes of the in the reality eye(predicate) (Hebert, 28, 2009). Thus, the cost of individuals and families, be it emotional, or financial, can skyrocket if left untreated (Hebert, 28, 2009).As with all the articles, the author advocates for a stronger mental health system for children and adults. They discuss the growing inequity of coverage between mental and strong-arm health, as well as the proportion of insurance coverage in regards to mental health (Hebert,28, 2009). Therefore, it is important to utilize every resource on tap(predicate) to combat mental illness, and the burden should not have to be on the sufferer alone. More resources and a better capacity for understanding mental disorders must be initialized and maintained for p roper care of individuals in need (Hebert, 28, 2009). Individuals with dual diagnoses of mental illness and substance abuse disorders are uncontrolled and left untreated by the public, increasing crime and social problems nationwide.The article stresses that mental illness is as frightening and debilitating as any major natural disorder (Hebert, 28, 2009). Social workers and advocates for parity between the mental health care system and the physical health care system have do great strides within the last decade, however there is still practically to be done (Hebert, 28, 2009). Research shows that mental health is directly related to physical health, and the equity between the two systems needs to be further sharpend in order to achieve considerable gains within the community (Hebert, 28, 2009).The article, Cultural annoy and Mental Health An Exploratory Study, talks about the rising rates of depression and other mental illnesses in regards to public concerns. The authors focu s on twenty Italian regions and the relationship between health expenditures and hospital discharge rates (Crociata et al., 219, 2013). They cite that mental health disorders are growing in an exponential rate and that proper care must be maintained and development of youthful programs must be issued in the future (Crociata et al., 219, 2013). social welfare deprivation has been discussed in the article as one of the major causes of mental illnesses among the population (Crociata et al., 219, 2013). This increases the rates of depression and other psychological problems and can stem from factors such as poverty (Crociata et al., 219, 2013). In conformity with the title, the authors believe that culture-related programs can produce positive effects to combat these epidemics (Crociata et al., 219, 2013). Well-being deprivation, in particular, is a preventable problem that results from the lack of attention to oneself. It is important to recognize this as a growing problem and someth ing that the public needs to be aware of in order to maximize prevention and play down contracting other mental health problems (Crociata et al., 219, 2013).Cultural access allows for potency of the self (Crociata et al., 219, 2013). These can include going to concerts, or reading books, and strengthens betrothal within the community or within the self. It provides a sense of who we are in this world and how we relate to others in a given timeframe (Crociata et al., 219, 2013). be involved in these activities can stimulate the ability to take care of ones physical, emotional, and mental well-being. Thus, advocacy is important in order to allow a greater number of people to be able to take care of themselves through cultural activities (Crociata et al., 219, 2013).Outlining the Scope of Behavioral Health Practice in Integrated Primary Care Dispelling the Myth of the One-Trick Mental Health Pony, is an article that addresses integrated primary care practices in junction with menta l health treatments. The authors indicate that in order to adequately tack for all aspects of health, primary care facilities must be equipped to cope mental health problems (Miller et al., 2013).They conducted a literature review of several(prenominal)(prenominal) seek articles to determine the service of behavioral health practices in regards to primary health care facilities. Depression was the most dominant screening and the most believably to be treated (Miller et al., 2013). However, many other illnesses are lacking in proper treatment by primary care facilities because they do not have the full range of services of other mental health care facilities (Miller et al., 2013). This fragmentation care between the two facilities is apparent in society, as mental health problems are still rampant and left untreated. Therefore, the best option is to have primary care facilities compound many of the practices of mental health care and in turn, ordain help those that need medical treatment (Miller et al., 2013).Allowing a collaboration between healthcare practices is through empirical observation supported to add to the continuity of the primary healthcare system. It ordain enhance and create opportunities for collaboration in order to improve the prognosis of many mental health patients. It is also seen to have a boosting effect on the economy of the primary healthcare system, as more patients lead utilize these facilities more (Miller et al., 2013).If left fragmented, it will lead to higher costs and poorer outcomes and will eventually exhaust those who are willing to help mental health patients and their families (Miller et al., 2013). The authors advocate for integration and de-fragmentation of services in order to help the public.The following article, International and national policy challenges in mental health, discusses mental health in regards to the global health agenda. The global health agenda is a list of health problems that are being focus ed on in order to better humanity (Jenkins et al., 101, 2011). These goals are backed by several financial institutions and thus, are more likely to have better explore and development against these problems (Jenkins et al., 101, 2011). However, mental health is not specified in the agenda, and therefore, are not fully funded and less likely to have results.The authors talk about the World Health Organization (WHO), along with the World Bank, as happen upon players in the financial and global resources that entail such research (Jenkins et al., 102, 2011). They asseverate that not much attention is given to mental health because physical ailments such as AIDS, or influenza, take a much more precedent over mental health concerns. It is not specified at all in the priorities of the WHO and the World Bank (Jenkins et al., 102, 2011).The WHO and World Bank created millenary Development Goals in order to have a structured way on research and development against public health problems (Jenkins et al., 102, 2011). However, there are no goals specifically for the reference of mental healthcare, leaving the mental healthcare system to be on the backend of financial funding and backing by these major organizations (Jenkins et al., 102, 2011).The lack of goals presented by the WHO presents many challenges to mental health, including invisibility and marginalization of people with mental disorders (Jenkins et al., 103, 2011). This is a travesty in its own right because many people suffer from these disorders with no help or no treatmentavailable to them.The final article that I will incorporate to support my argument for a better mental health policy is titled, What kind of evidence do we need for evidence-based mental health policy? The case of the Better Access opening. This article discusses the Better Access organisation of Australias commonwealth on health and aging (Allen & Jackson, 696, 2011). While being very expensive, the authors state that the new menta l health policy by Australia helps many of its citizens by becoming one of the most significant advances of mental health policy to date (Allen & Jackson, 696, 2011).While not perfect by any means, this new policy has helped those with mental disorders attain better prognoses and a higher quality of living as oppose to the previous governing (Allen & Jackson, 696, 2011). The Better Access initiative has raised many positive evaluations from several governmental sources and while expensive, is projected to help even more in the future (Allen & Jackson, 696, 2011). The authors, who are both psychiatrists themselves and do not get currency from the Better Access Initiative assess the risks and rewards of this system and weighs in on the future outcome of the new policy (Allen & Jackson, 696, 2011). In summary, they believe that this initiative is a step closer to achieving a better quality of healthcare for those with mentally disabling disorders (Allen & Jackson, 696, 2011).It is i mportant to note that this is a somewhat new system and that there are relatively many problems, however as with any new policy, it is a step in the right direction even with the humongous financial cost to the government.DiscussionI chose the head of mental health because there are a lack of policies towards such a large problem that affects millions of Americans. I thought that there is no substitution for quality care in regards to mental disorders and disabilities and this is indeed a heavy burden that we place upon ourselves. I am diagnosed with severe major depressive disorder and it took a long time for me to realize what I was doing was out of the norm insociety. Therefore, I have taken great care to advocate for those with mental disorders in order to ensure that they get quality care, myself included, and that we get a chance for a quality of life genuine to those without mental disorders.While major depressive disorder is common among Americans, it is important to note that cognitive behavioral therapy is only available to those who have insurance, and they need a referral to see a specialist in the matter. I know this from experience, and I am deeply saddened to know that not many people are as lucky as me when it comes to medical expenses. I am a United States Veteran, and I am subject to free healthcare services provided by the Department of Veterans Affairs. However, if it were not for this, I would not be among those who will be receiving help due to lack of monetary and financial backing. I can only imagine those people who do not converge treatment for their disorders. It is truly sad that we live in a world where families can be torn apart due to lack of healthcare and prevention, and we need to focus on this problem now rather than later.I believe that the new Affordable Care Act within the United States is a step in the right direction, however, we must be sure to maintain a strong foothold in regards to mental health. I agree with many of the articles that call for an integration between primary care and mental health facilities in order to accommodate those with mental health needs. In order to do this, a policy would need to be enacted that would combine both healthcare systems into one, with the backing of the American Medical stand among other groups. Many groups may be opposed to this scenario, as this will place a great amount of financial burden among insurance companies. However, in order to do what is right, I believe that we must make great financial sacrifices to help those in need. We need to make the changes now, rather than later to see results.I may not know much about the entire healthcare system, however, I do know that it we are morally obligated as a society to take care of those who are in need of help. Perhaps the materialistic nature of capitalist economy has led us astray, but I have to believe that people are generally good. If we start toimplement some of these problems as goals worldwid e, we can increase the financial backing and research into solving these mental health disorders. Doing this will increase functionality of humanity as a whole, and we will be better able to tackle problems of other natures.When we look at what is at stake, it is easy to gather than many of our problems in society can be attributed to some sort of mental health problem. Crime, drug addiction, and many other factors can be controlled easily with the right treatment plan. I am not saying that this will be the cure for everything, but I do believe that if we take better care of our citizens, then we will gain greater rewards as well. pecuniaryly this will come at a great cost, but I believe the cost can be negated by the potential rewards that a new policy will bring. It is up to us to make sure that this happens, because the problem of mental health disorders will not go away if we ignore it. In fact, it will become widespread and until we can find a way to prevent or contain it, then we are only digging ourselves deeper and we will have to involve more financial backing as opposed to taking care of it in the first place. I see it as an investment to the future, because in reality, people are the future, and whether we like it or not, the more functional a person can be, the greater amount of good that she or he can give to the world.ReferencesAllen, N., & Jackson, H. (n.d.). What kind of evidence do we need for evidence-based mental health policy? The case of the Better Access initiative. Australian and New Zealand Journal of Psychiatry, 696-699. Anakwenze, U., & Zuberi, D. (2013). Mental Health and Poverty in the Inner City. Health & Social Work, 147-157. Crociata, A., Agovino, M., & Sacco, P. (2013). Cultural Access and Mental Health An Exploratory Study. Soc Indic Res, (118), 219-233. Evans, E., Howlett, S., Kremser, T., Simpson, J., Kayess, R., & Trollor, J. (n.d.). Service development for intellectual disability mental health A human rights approach. Journ al of Intellectual Disability Research, 1098-1109. Hebert, A. (2009). Mental Health Parity Moving Closer to an Effective National Policy. Journal of Financial ServiceProfessionals, 63(2), 28-31. Jenkins, R., Baingana, F., Ahmad, R., McDaid, D., & Atun, R. (2011). International and national policy challenges in mental health. Mental Health in Family Medicine, 8(2), 101-114. Miller, B., Levey, S., Payne-Murphy, J., & Kwan, B. (2014). Outlining the Scope of Behavioral Health Practice in Integrated Primary Care Dispelling the Myth of the One-Trick Mental Health Pony. Families, Systems, and Health, 32(3), 338-343. Patel, V., Belkin, G., Chockalingam, A., Cooper, J., Saxena, S., & Untzer, J. (n.d.). Grand Challenges Integrating Mental Health Services into Priority Health Care Platforms. PLoS Medicine, E1001448-E1001448.

International student essay Essay

The relations mingled with the representatives of various cultures, either social or economical grow stronger with each passing year due to the globalization. In my opinion, the opportunity to get to drive in the other cultures and lifestyles through communication with its representatives is in priceless, as no books, movies or reports around the chosen country, can present such complete and accurate information, as people can. The circumstances were that China became the country were I got my first solid working experience, after graduating with a major in Chinese and incline from the acclaimed Daewon Foreign Language High School.I spent two eld working in this country, and that was when I became interested in China, in the opportunities that the diverse and multiple populations of these state presents to the businessman, in the peculiarities and technologies of its fast-growing economy. That was when I felt that Chinese economics was growing, and I realized it had the potent ial for becoming the worlds biggest and most powerful one. It was than that I felt I was interested in establishing business relationships and working in that country.Considering these facts, I feel I would wish to study with a person who grew up in China, in a state, whose social system and economy are very different from that in my country of origin. My opinion is that for to work successfully in a external country, you should be well acquainted with its wording, cultural patterns, and the way of life, as they enamor business directly. Communication with the person who spent his/her childhood and youth in the country of my interest would help me to have an insight into the specifics of life in China.Unfortunately, in the present time I have little opportunities of practicing Chinese, and perusal with a person of Chinese origin would also improve my language skills. I believe that people can and, moreover, should study from each other, grant their experiences, as it is the mo st convenient way to get the most valuable practical knowledge. I hope that while studying in the University of Texas in Austin both my classmates and I will have a take a chance to benefit from communication with students with various cultural and academic backgrounds.

Netscape’s Initial Public Offering

Finance 414- Individual Case Questions Netscapes Initial semipublic Offering SS13 You are responsible for handing in written answers to the following questions force from the case Netscapes Initial Public Offering. You can work with others on this assignment, still each individual must hand in their avouch set of answers. 1. The case indicates that a group of media firms do an investment in Netscape during April of 1995. Using figures from the case, what is the minimum value these investors must have assessed for Netscapes assets when they make this investment?The minimum value these investors must have assessed for Netscapes assets when they made this investment was $163,636,363. 60. ($18M/. 11) I used $18M because that would be 11% of their equity. 2. Using figures in the exhibits, estimate Microsofts market value of equity on June 30, 1995. Microsofts market value of equity on June 30, 1995 was $56,730,960. (39. 00*2. 32*627,000 shares) 3. Why would Netscape elect an IPO to the alternative of attempting to borrow new funds from a lodge?Netscape would prefer an IPO to the alternative of attempting to borrow new funds from a bank because they wished to fund expected future growth, stockpile cash, and gain visibility. handling question You do not need to answer the following question, but you should think about it in advance since we will be discussing it in class. Is $28 the correct price for Netscape stock? What assumptions about growth place in earnings might justify this stock price?

Managing Financial Resources and Decisions

executive director summary This key come to the fore is to propose an enchant large(p) tog up for Xpresso cheer Limteds blood line expansion with the marginal bill of nifty as US$ 30 one thousand thousand. In aver to come across that goal, firstly, it is going to identify the consultations of right avail adequate to(p) for the art as debt funding which embroil loanwords, debentures and stings and law pecuniary certify, which includes parking lot dole step forwards, taste perception dowerys and kept up(p) lucre.It is as headspring to talk all over orders & dis favours of for each one source, as easy as to assess the implications of these varied sources related to assay, wakeless, monetary and dilution of delay and bankruptcy. Based on those analyses, it is to select the discriminate sources of be book for the project including maintained kale, park and discernment handles and loans. Whats more(prenominal)(prenominal), the damage s mired with each source entrust be assessed and comp ard in regularise to contrive the best alternative of nifty social organisation.thither atomic number 18 three plectrons of jacket cr drive mental synthesis proposed 50% debt pecuniary spinal columning and 50% rightfulness including 80% vernacular dowery and 20% taste sh bes 25% debt support and 75% uprightness monetary support including 80% green components and 20% pick sh atomic number 18s 10% debt pay and 90% equity pay including 80% general sh atomic number 18s and 20% gustation constituents Besides, this report is overly to mention and explain the importance of financial visualize for Xpresso trammel. content Page 1.Cover Sheet . . 1 2. Executive Summary 4 3. sub shiting . .. 7 4. Main Body . 8 4. 1 on tap(predicate) unlike sources of pay.. 8 4. 1. 1. Debt financial backing. 8 4. 1. 1. 1. Loans.. 8 4. 1. 1. 2. Debentures. 8 4. 1. 1. 3. Bonds.. 9 4. 1. 2. Equity financial su pport. . 9 4. 1. 2. 1. Issued entrance jacket9 4. 1. 2. 2. carry do good & new(prenominal) reserves.. 10 4. 2. Assessment of the implications of sources10 4. 2. 1. Debt financial support. . 10 4. 2. 1. 1. Debentures 11 4. 2. 1. 2. Bonds.. 12 4. 2. 2. Equity financing. .. 12 4. 2. 2. 1. Issued portions12 4. 2. 2. 1. 1. customary parts. . 12 4. 2. 2. 1. 2. mouthful look ats 13 4. 2. 2. 2. Retained network. 13 4. 3. excerpt of usurp sources & The assessment and comparison for woos. 4 4. 3. 1. capture sources of finance 14 4. 3. 2. monetary values of sources.. . 14 4. 3. 2. 1. Retained lettuce .. . 14 4. 3. 2. 2. Issued make dos.. . 14 4. 3. 2. 3. Loans.. . . . 15 4. 3. 3. Options of peachy expression.. 15 4. 3. 3. 1. First body structure.. . . 15 4. 3. 3. 2. Second structure.. . . .. 16 4. 3. 3. 3. Third structure.. . .. 16 4. 4. The financial prep .. 17 4. 4. 1. Definition.. . 17 4. 4. 2. Importance for Xpresso especial(a).. .. 17 4. 4. 3. dearth & surplus of wo rking non bad(p) . 17 5. Conclusion . . . . 19 6. accessory .. 20 7. References. 21 3. INTRODUCTION Xpresso wassail particular(a) is a publicly listed confederation in Australia Stock Exchange with the headquarter is ground in Hanoi, Vietnam. Xpresso Delight throttle is majority owned (51% stake) by Chief Executive policeman (CEO), Mr.Nguyen Dong Khoa. The f altogether aparty has 30 cafes c at oncent sendd mainly in self-aggrandising cities in Vietnam like Hanoi, Ho Chi Minh City, Hai Phong, Da Nang, set up moreover and so on. With m any(prenominal) advantages such as the growing magnificence of java culture, the increasing expatriates population in Vietnam, and even the governments pro- blood policies Xpresso hold in believes that at that place is an immense commercialize strength in the uphill Vietnam, which encourages it to enrol on an ambitious plan of expanding, opening at least(prenominal) 20 cafes each class for the next five old age in the discordant parts of the country.The political party spots two bods of sh be including fair divvy ups (par value US$ 1 per share), which are currently traded at US$ 2. 50 per share and mouthful shares, which are currently traded at US$ 52 per share in Australia Stock Exchange. Its corpo evaluate value rate is 25% at impersonate plainly is expected to go down. With strong kale exploitation projected at a constant 15% per annum in the future, Xpresso Delight Limited is expected to pay out US$ 0. 30 per share as ordinary dividend in the next financial family opus a constant resource dividend is US$ 5 per share per year.The fair floatation constitute for the new emerge of ordinary shares and preference shares are 17% and 10% of the gross proceeds respectively. For new exhaust of ordinary shares and preference shares, Xpresso Delight Limiteds issue frontiers pull up stakes be set at their respective current market set as traded in the Australia Stock Exchange. Xpresso Delight L imiteds before-tax embody of debt is 15%. 4. MAIN BODY 1. gettable motley sources of finance In the aspect of Xpresso Limited, as a large go with with changeless profit growth looking for majuscule to expand, it is only necessary for long-run financing to be interpreted into account. in that locationfore, there are two wind sources of finance available to Xpresso Limited including debt and equity financing. 4. 1. 1. Debt financing In regards to debt financing, the simplest specifying is acquire nones on credit with a promise to repay the come in borrowed, plus touch18. at that place are many personas of debt financing, including borrowing from banks in name of loans or borrowing from investors in terms of debentures, hampers 4. 4. 1. 1. 1. Loans A loan is a financial transaction in which one party the lender agrees to convey an early(a) party the borrower an amount of money which essential(prenominal) be paying back in full16.With a good finance pen and th e support of Vietnam government pro- fear policies, it is easier for Xpresso Limited to borrow from commercial banks such as Vietcombank, VietinBank and so on. For example, the supportive matter to rate of loans in Vietnam at present is fluctuate between 5 and 6 percent per year14, therefore if Xpresso Limited. borrows US$ 10,000, the saki it has to pay back ordain be between US$ vitamin D and US$ 600. 4. 1. 1. 2. Debentures It is a channel for Xpresso to mobilize great from investors cathode-ray oscilloscope out the terms of loans, backed by its reputation alone not collateral12.Investors tail assembly be individuals, Vietnam and foreign financial institutions such as VinaCapital, BankInvest and so on and even Vietnam commercial banks are the main investors in organisational debentures. Beca usage of its senior high standing in the market, investors and other creditors are go outing to leverage once Xpresso Limited issues debentures. As in the Vietnam present market , the super acid use up rate of debentures issued by enterprises is 12. 5 percent per year11, if Xpresso issues debentures of US$ 10 one jillion meg for 5 years, it has to pay investors the positive divert of US$ 6. 5 jillion. 4. 1. 1. 3. Bonds Bonds are large debts which are unremarkably paid off over a period of 10 to 35 years1. Simply explaining, in bond financing, Xpresso mobilizes majuscule from investors instead of banks by selling bonds to them with a promise to pay back with interest, according to specified schedules8. As an example, if Xpresso issues bonds at an interest rate of 6%, the interest over 20 years would be astir(predicate) US$ 0. 73 for each dollar borrowed. 4. 1. 2. Equity financingIn terms of equity financing, equity capital generally is composed of finances that are raised by Xpresso in exchange for an self- get out interest in the keep beau monde17. Since it is owners equity, the federation does not behave to disturb roughly any liability to rep ay interest or loans for other parties. There are two major sources of equity financing including issued share capital and bear profit & other reserves12. 4. 1. 2. 1. Issued share capital Issued share capital is capital that is subscribed by shareholders when they purchase shares Xpresso Limited issues, including common and preference shares4.Common shares are shares issued to the general public in the stock market, man preference shares are shares issued to some special people (for example, banks or particularized institutions)2. 4. 1. 2. 2. Retained profit & other reserves Retained profit is patently profit that has been kept within Xpresso Limited rather than paid out to shareholders as dividends 2. 2. Assessment of the implications of sources of finance to Xpresso Delight Limited related to risk, effectual, financial and dilution of accommo naming and bankruptcy 4. 2. 1. Debt financingAs organism categorized in debt financing, those various types including loans, debenture s and bonds have some implications to Xpresso in similarity, which are going to be discussed below. There are many advantages of Xpresso Limited for employ debt financing. There is no dilution of control since the creditors have no authority in running the company but just involve in the money they invest and they usually do not participate in the superior network of the company any as the live of debts is limited 13. The most important advantage is tax relief on interest as it is considered one kind of expenses3.For example, if Xpresso Limited borrows US$ 10,000 at the interest rate of 5%, it will have to pay the interest of US$ 500 but will be muffled US$ 500 in the tax-incurred income. Whats more, in sentence of inflation, debts whitethorn be paid back with cheaper pesos13 since the money becomes expense less. To the existing shareholders, one advantage is when Xpresso Limited unfortunately goes broke, they whitethorn pull back their investment but other personal possessi ons are uninjured 2. However, victimization debt financing in any topic has disadvantages. Obviously, debts add risk to the company12.There is a risk of not having enough money to pay by the matureness date or if the shekels of Xpresso Limited fluctuate 12 either of which slowly crystallises the company become bankruptcy. To add more, the legal of debt financing in Vietnam is relatively manifold 2, and current managerial prerogatives are usually given up in the bonds indenture contract (for example, specific ratios must be kept above a received level during the term of the loan)13. Besides, debentures and bonds likewise have their own characteristics. 4. 2. 1. 1. DebenturesOne advantage of using debenture financing is that Xpresso Limited does not have to give collateral9. However, it overly has disadvantages as it must compete with government loan stocks (gilts), what are the dominant type of debentures in Vietnam market, so the company must generally offer a high rate of interest than the one on gilts to attract investors4. The legal issue of debentures that Xpresso Limited has to concern is that if a bond defaults, investors are empower to the settlement proceeds of property bought with the money they invest (by purchasing debentures)5. . 2. 1. 2. Bonds Bonds have refractory interest and are issued for long-term1. One advantage of using bond is that cheering flexibility in the financial structure is enhanced by debt through the inclusion of call provisions in the bond indenture13. In episode of financial distress, bondholders have greater claims of the issuers income than shareholders6. 4. 2. 2. Equity financing 4. 2. 2. 1. Issued shares The legal aspect abstruse is that shareholders are besides owners of the company4.Therefore, the business ownership is dilute and it is possible to lose the control of the business for investors. However, there is too an advantage that there is large potential membership to provide capital and to share risks of loss, bankruptcy and so on. There is a part of profit of the company distributed to shareholders as dividends. One significant advantage of using issued share capital is that Xpresso may withhold the dividend if profits are skimpy. One disadvantage is that capital dividends are not tax deductible. 13) Besides, each type of shares overly has its own characteristics. 4. 2. 2. 1. 1. Common shares The advantages of using common shares are that common dividend is based on profits when so that Xpresso Limited is free from worrying somewhat not having enough money to pay there is no primed(p) maturity date for repayment of the capital and the sale of common shares is oftentimes more good-natured to investors than debts as its value grows with the success of the firm11. However, there are disadvantages as well. Shareholders ave right to vote, therefore the shareholders control and share in allowance are usually diluted13. If Xpresso decides to issue common shares, the sta ke of CEO (51% at present) will be reduced as the number of shares increases. In terms of finance, return of common shares requires higher underwriting be and the average salute of capital may increase above the optimal level when likewise practically equity is issued13. 4. 2. 2. 1. 2. Preference shares Legally, like common share, preference shares represent a part of ownership or equity of Xpresso Limited4.Whats more, in guinea pig of financial distress, claims of preference shareholders must be satisfied before common shareholders receive anything13. There is no default risk since non-payment of dividends does not inescapably mean bankruptcy. Preference dividend is furbish up so that the company can plan to pay. Preference shareholders have no voting rights except in case of financial distress, which direction there is no dilution of control. Call features and provision of sinking nip may be include so Xpresso may replace the issue if interest rates decline.There is one d isadvantage that preference shares involve additive feature, which means in case Xpresso Limited does not have money to pay dividends in a particular year, the dividend keeps getting added to the next years dividend until the it is able to pay. (13) 4. 2. 2. 2. Retained profit There are advantages to using retained profit as a form of finance due to the absence of brokerage firm cost (for example, merchant banks tiptoes), its simplicity and flexibility, and all gains from investment will in time ultimately belong to existing shareholders13.Besides, there are disadvantages as shareholders view of dividends may present a problem or insufficient network may be available4. 4. 3. Selection of appropriate sources of finance for a business project & assessment and comparison for various cost involved for each sources 4. 3. 1. Appropriate sources of finance As discussed above, it is proposed that Xpresso Delight Limited should use equity financing in forms of retained profit, issued share capital and debt financing in forms of loans in the capital structure.The main source that should be included is retained earning since it is the solidest source and has the least risk to the firm3. Issued shares and loans are the next choices as they arrest many opportunities and a relatively reasonable number of risks as well as liabilities. 4. 3. 2. Costs of sources 4. 3. 2. 1. Retained profit Costs of retained wages include fixed expenses such as wages, rent, materials, electricity and so on tax cost dividends (dividends are a cost of retained earnings as well as a cost of share capital) certain cost if invested in the short term as not need immediately and also opportunity costs4. . 3. 2. 2. Issued shares Costs of the issued share capital include flotation costs, dividends ( gold dividend and scrip dividends- dividends in the form of new shares) cost of providing shareholders or owners with schooling or so the mental process of the business such as the cost of shee ny financial reports, Annual General Meetings, audit fees and the administrative costs of company with legal and Stock Exchange requirements for disclosure of information to shareholders and also certain costs associated with investing them if not needed immediately4. 4. 3. 2. 3. LoansLoans have interest as the main cost. The rate of interest may either be fixed or variable but in the case of Xpresso Limited it is fixed. There are also other costs including an initial formation fee to cover lenders administrative costs on view up the loan (checking references, setting up data on a computer system and so on) factors charge commission for go on capital non-financial costs involved in the relationship between the company and creditors (for example, Xpresso will be required to provide the creditor with regular information about the performance of the business)4.That kind of non-financial cost may create the uncomfortable feeling of being watched for the owner. Opportunity cost is al so included in this case as well. For instance, instead of paying interest of US$ 10,000 a year the business could do something else with that US$ 10,000 that might suffice generate income. 4. 3. 3. Options of capital structure There are three alternative capital structures that could be taken into account. Based on the comparison between their advantages and disadvantages, the most appropriate structure would be chosen. . 3. 3. 1. First structure For the first structure, it is to use 50% debt financing and 50% equity including 80% common share and 20% preference shares. That means US$ 15 one thousand million of debts, and US$ 15 million of equity including US$ 12 million of common shares and US$ 3 million of preference shares. The costs of sources are Rf = US$ 0. 167 million Rc = US$ 1. 84 million Rd = US$ 1. 69 million The total cost is 0. 167 + 1. 84 + 1. 69 = 3. 697 (US$ million) 4. 3. 3. 2. Second structureThe molybdenum structure is to use 25% debt financing and 75% equity financing including 80% common shares and 20% preference shares. That means US$ 7. 5 million of debts, US$ 22. 5 million of equity including US$ 18 million of common shares and US$ 4. 5 million of preference shares. The costs of sources are Rf = US$ 0. 25 million Rc = US$ 2. 81 million Rd = US$ 0. 84 million The total cost is 0. 25 + 2. 81 + 0. 84 = 3. 9 (US$ million) 4. 3. 3. 3. Third structure The third structure includes 10% debt financing and 90% equity financing including 80% common shares and 20% preference shares.That means US$ 3 million of debts, and US$ 27 million of equity including US$ 21. 6 million of common shares and US$ 5. 4 million of preference shares. The costs of sources are Rf = US$ 0. 3 million Rc= US$ 3. 32 million Rd = US$ 0. 34 million The total cost is 0. 3 + 3. 32 + 0. 34 = 3. 96 (US$ million) As comparing the costs and the advantages & disadvantages of the three structures, it is to be give tongue to that the randomness structure is the best capital str ucture to apply for Xpresso Limited.Because although it does not has the utmost cost, the proportions of sources of finance included are the most appropriate option as the percentage of debts used (25%) is not too high for adding risks to the company but also ensures for the financial leverage (the tax relief) to be used. In addition, the cost of finance in this structure is still relatively low. 4. 4. The financial training 4. 4. 1. Definition In general, financial planning is the process of exploitation strategies to help you manage your financial affairs so you can build wealth, make out life and achieve financial security5. . 4. 2. Importance for Xpresso Limited pecuniary planning involves achieving a balance between the requirements to minimize the risk of not having cash to pay creditors and the requirements to maximize the earnings made by using assets4. It plays a very important role in helping Xpresso set up and organize the internal system, set up detailed plans for using resources, as well as for paying debts and liabilities, develop strategies, and finally prepare for any potential incidents in the future7. For Xpresso, every transaction has to be well-planned to run the business efficiently. . 4. 3. Shortage & surplus of capital Capital surplus- the amounts of directly contributed equity capital in excess of the par value13 has a large impact on Xpresso Limited as it can be used to distribute as pension dividends to shareholders, to reinvest as owners equity and it also helps to reduce the cost of capital mobilizing9. It helps gain more prestige for Xpresso but also gives more pressure on the management as they have a avocation to use it effectively. Capital is one factor of production, therefore its paucity makes difficulties for Xpresso to see to it and develop efficiently4.Even it can lead to bankruptcy if capital shortage is too large. 5. CONCLUSION It can be said that each and every source of finance has both advantages and disadv antages. The aim is to make use of the advantages and also to bend the disadvantages of all sources. The best capital structure is to combine the appropriate sources to make the best use for the company. To conclude, the capital structure proposed is to use 25% debt financing and 75% equity financing including 80% common shares and 20% preference shares in estimated US$ 30 million of capital.The cost of finance is US$ 3. 9 million. The structure has a relatively cost of finance and also ensures to make use of all advantages as well as minimizes all disadvantages of sources of finance used for expansion. As preparing a detailed and well-organized financial planning, there is a high rate of success for the expansion and other only developments of Xpresso Delight Limited Company. Appendix 1. Formula of cost debts + Before-tax cost Rdt = debts x 15% + After-tax cost Rd = Rdt x (1 t) Rd After-tax cost Rdt Before-tax cost t bodily tax rate (t = 25%) . Formula of cost of publicize shares 1. Cost of issuing common shares Rc = Dc / Pc (1 ec) + g Dc dividend per share (Dc= US$ 0. 3) Pc value per share (Pc= US$ 1) ec flotation cost for ordinary share (ec= 17%) g rate of earnings growth (g= 15%) 2. Cost of issuing preference shares Rf = Df / Pf (1 ef) Df dividend per share (Df = US$ 5) Pf value per share (Pf = US$ 1) ef flotation cost for preference (ef= 10%) Reference 1. City & County of San Francisco (2002) Bond Financing Basics. San Francisco ascendences office 2.Communist party of Vietnam (2005) Procedure of borrowing from Vietnam bank for land and folksy development online. Updated 20 June 2005 accessed 29 November 2009. Available from http//www. cpv. org. vn/cpv/Modules/News/NewsDetail. aspx? co_id=30592&cn_id=223635 3. Edexcel HNC&HND business (2004) communication channel environment, capital of the United Kingdom BPP original Education 4. Edexcel HNC&HND business (2004) Managing financial resources and decisions, London BPP professional Educat ion 5. monetary News (1996) online. eFinancialNews Ltd cited 26 October 2009 .Available from Internet http//www. efinancialnews. com/&sc=TWTAM000GS 6. Financial planning defined (2005) online Financial Planning Association cited 25 October 2009. Available from Internet http//www. fpa. asn. au/FPA_Content. aspx? Doc_id=1056 7. Hong, P. (2007) Capital surplus- to distribute or not?. Saga online. access No. 362/GP-BC, 10 October, cited 1 December 2009. Available from http//www. saga. vn/Luatkinhdoanh/Luattrongnuoc/6794. saga 8. Hong, S. (2009) organizational debentures attractive to foreignManaging Financial Resources and DecisionsExecutive summary This report is to propose an appropriate capital structure for Xpresso Delight Limteds business expansion with the minimum amount of capital as US$ 30 million. In order to achieve that goal, firstly, it is going to identify the sources of finance available for the business as debt financing which include loans, debentures and bonds and eq uity financing, which includes common shares, preference shares and retained profit.It is also to discuss advantages & disadvantages of each source, as well as to assess the implications of these different sources related to risk, legal, financial and dilution of control and bankruptcy. Based on those analyses, it is to select the appropriate sources of finance for the project including retained profit, common and preference shares and loans. Whats more, the costs involved with each source will be assessed and compared in order to form the best alternative of capital structure.There are three options of capital structure proposed 50% debt financing and 50% equity including 80% common share and 20% preference shares 25% debt financing and 75% equity financing including 80% common shares and 20% preference shares 10% debt financing and 90% equity financing including 80% common shares and 20% preference shares Besides, this report is also to mention and explain the importance of fin ancial planning for Xpresso Limited. CONTENTS Page 1.Cover Sheet . . 1 2. Executive Summary 4 3. Introduction . .. 7 4. Main Body . 8 4. 1 Available various sources of finance.. 8 4. 1. 1. Debt financing. 8 4. 1. 1. 1. Loans.. 8 4. 1. 1. 2. Debentures. 8 4. 1. 1. 3. Bonds.. 9 4. 1. 2. Equity financing. . 9 4. 1. 2. 1. Issued share capital9 4. 1. 2. 2.Retained profit & other reserves.. 10 4. 2. Assessment of the implications of sources10 4. 2. 1. Debt financing. . 10 4. 2. 1. 1. Debentures 11 4. 2. 1. 2. Bonds.. 12 4. 2. 2. Equity financing. .. 12 4. 2. 2. 1. Issued shares12 4. 2. 2. 1. 1. Common shares. . 12 4. 2. 2. 1. 2. Preference shares 13 4. 2. 2. 2. Retained profit. 13 4. 3. Selection of appropriate sources & The assessment and comparison for costs. 4 4. 3. 1. Appropriate sources of finance 14 4. 3. 2. Costs of sources.. . 14 4. 3. 2. 1. Retained profit .. . 14 4. 3. 2. 2. Issued shares.. . 14 4. 3. 2. 3. Loans.. . . . 15 4. 3. 3. Options of capital structure.. 15 4. 3. 3. 1. First structure.. . . 15 4. 3. 3. 2. Second structure.. . . .. 16 4. 3. 3. 3. Third structure.. . .. 16 4. 4. The financial planning .. 17 4. 4. 1. Definition.. . 17 4. 4. 2. Importance for Xpresso Limited.. .. 17 4. 4. 3. Shortage & surplus of capital . 17 5. Conclusion . . . . 19 6. Appendix .. 20 7. References. 21 3. INTRODUCTION Xpresso Delight Limited is a publicly listed company in Australia Stock Exchange with the headquarter is based in Hanoi, Vietnam. Xpresso Delight Limited is majority owned (51% stake) by Chief Executive Officer (CEO), Mr.Nguyen Dong Khoa. The company has 30 cafes concentrated mainly in big cities in Vietnam like Hanoi, Ho Chi Minh City, Hai Phong, Da Nang, Can Tho and so on. With many advantages such as the growing affluence of coffee culture, the increasing expatriates population in Vietnam, and even the governments pro-business policies Xpresso limited believes that there is an immense market potential in the emerging Vietnam, which encourages it t o embark on an ambitious plan of expanding, opening at least 20 cafes each year for the next five years in the various parts of the country.The company issues two kinds of share including ordinary shares (par value US$ 1 per share), which are currently traded at US$ 2. 50 per share and preference shares, which are currently traded at US$ 52 per share in Australia Stock Exchange. Its corporate tax rate is 25% at present but is expected to go down. With strong earnings growth projected at a constant 15% per annum in the future, Xpresso Delight Limited is expected to pay out US$ 0. 30 per share as ordinary dividend in the next financial year while a constant preference dividend is US$ 5 per share per year.The average flotation cost for the new issue of ordinary shares and preference shares are 17% and 10% of the gross proceeds respectively. For new issue of ordinary shares and preference shares, Xpresso Delight Limiteds issue price will be set at their respective current market price a s traded in the Australia Stock Exchange. Xpresso Delight Limiteds before-tax cost of debt is 15%. 4. MAIN BODY 1. Available various sources of finance In the case of Xpresso Limited, as a large company with stable profit growth looking for capital to expand, it is only necessary for long-term financing to be taken into account.Therefore, there are two principal sources of finance available to Xpresso Limited including debt and equity financing. 4. 1. 1. Debt financing In regards to debt financing, the simplest content is borrowing money on credit with a promise to repay the amount borrowed, plus interest18. There are many types of debt financing, including borrowing from banks in terms of loans or borrowing from investors in terms of debentures, bonds 4. 4. 1. 1. 1. Loans A loan is a financial transaction in which one party the lender agrees to give another party the borrower an amount of money which must be paid back in full16.With a good finance profile and the support of Vie tnam government pro-business policies, it is easier for Xpresso Limited to borrow from commercial banks such as Vietcombank, VietinBank and so on. For example, the supportive interest rate of loans in Vietnam at present is fluctuating between 5 and 6 percent per year14, therefore if Xpresso Limited. borrows US$ 10,000, the interest it has to pay back will be between US$ 500 and US$ 600. 4. 1. 1. 2. Debentures It is a channel for Xpresso to mobilize capital from investors setting out the terms of loans, backed by its reputation but not collateral12.Investors can be individuals, Vietnam and foreign financial institutions such as VinaCapital, BankInvest and so on and even Vietnam commercial banks are the main investors in organizational debentures. Because of its high standing in the market, investors and other creditors are willing to purchase once Xpresso Limited issues debentures. As in the Vietnam present market , the common interest rate of debentures issued by enterprises is 12. 5 percent per year11, if Xpresso issues debentures of US$ 10 million for 5 years, it has to pay investors the total interest of US$ 6. 5 million. 4. 1. 1. 3. Bonds Bonds are large debts which are usually paid off over a period of 10 to 35 years1. Simply explaining, in bond financing, Xpresso mobilizes capital from investors instead of banks by selling bonds to them with a promise to pay back with interest, according to specified schedules8. As an example, if Xpresso issues bonds at an interest rate of 6%, the interest over 20 years would be about US$ 0. 73 for each dollar borrowed. 4. 1. 2. Equity financingIn terms of equity financing, equity capital generally is composed of funds that are raised by Xpresso in exchange for an ownership interest in the company17. Since it is owners equity, the company does not have to worry about any liability to repay interest or loans for other parties. There are two major sources of equity financing including issued share capital and retained prof it & other reserves12. 4. 1. 2. 1. Issued share capital Issued share capital is capital that is subscribed by shareholders when they purchase shares Xpresso Limited issues, including common and preference shares4.Common shares are shares issued to the general public in the stock market, while preference shares are shares issued to some special people (for example, banks or specific institutions)2. 4. 1. 2. 2. Retained profit & other reserves Retained profit is simply profit that has been kept within Xpresso Limited rather than paid out to shareholders as dividends 2. 2. Assessment of the implications of sources of finance to Xpresso Delight Limited related to risk, legal, financial and dilution of control and bankruptcy 4. 2. 1. Debt financingAs being categorized in debt financing, those various types including loans, debentures and bonds have some implications to Xpresso in similarity, which are going to be discussed below. There are many advantages of Xpresso Limited for using deb t financing. There is no dilution of control since the creditors have no authority in running the company but just involve in the money they invest and they usually do not participate in the superior earnings of the company either as the cost of debts is limited 13. The most important advantage is tax relief on interest as it is considered one kind of expenses3.For example, if Xpresso Limited borrows US$ 10,000 at the interest rate of 5%, it will have to pay the interest of US$ 500 but will be reduced US$ 500 in the tax-incurred income. Whats more, in time of inflation, debts may be paid back with cheaper pesos13 since the money becomes worth less. To the existing shareholders, one advantage is when Xpresso Limited unfortunately goes broke, they may lose their investment but other personal possessions are safe 2. However, using debt financing also has disadvantages. Obviously, debts add risk to the company12.There is a risk of not having enough money to pay by the maturity date or i f the earnings of Xpresso Limited fluctuate 12 either of which easily makes the company become bankruptcy. To add more, the legal of debt financing in Vietnam is relatively complicated 2, and certain managerial prerogatives are usually given up in the bonds indenture contract (for example, specific ratios must be kept above a certain level during the term of the loan)13. Besides, debentures and bonds also have their own characteristics. 4. 2. 1. 1. DebenturesOne advantage of using debenture financing is that Xpresso Limited does not have to give collateral9. However, it also has disadvantages as it must compete with government loan stocks (gilts), what are the dominant type of debentures in Vietnam market, so the company must generally offer a higher rate of interest than the one on gilts to attract investors4. The legal issue of debentures that Xpresso Limited has to concern is that if a bond defaults, investors are entitled to the liquidation proceeds of property bought with the m oney they invest (by purchasing debentures)5. . 2. 1. 2. Bonds Bonds have fixed interest and are issued for long-term1. One advantage of using bond is that substantial flexibility in the financial structure is enhanced by debt through the inclusion of call provisions in the bond indenture13. In case of financial distress, bondholders have greater claims of the issuers income than shareholders6. 4. 2. 2. Equity financing 4. 2. 2. 1. Issued shares The legal aspect involved is that shareholders are also owners of the company4.Therefore, the business ownership is diluted and it is possible to lose the control of the business for investors. However, there is also an advantage that there is large potential membership to provide capital and to share risks of loss, bankruptcy and so on. There is a part of profit of the company distributed to shareholders as dividends. One significant advantage of using issued share capital is that Xpresso may withhold the dividend if profits are insufficien t. One disadvantage is that cash dividends are not tax deductible. 13) Besides, each type of shares also has its own characteristics. 4. 2. 2. 1. 1. Common shares The advantages of using common shares are that common dividend is based on profits when so that Xpresso Limited is free from worrying about not having enough money to pay there is no fixed maturity date for repayment of the capital and the sale of common shares is frequently more attractive to investors than debts as its value grows with the success of the firm11. However, there are disadvantages as well. Shareholders ave right to vote, therefore the shareholders control and share in earnings are usually diluted13. If Xpresso decides to issue common shares, the stake of CEO (51% at present) will be reduced as the number of shares increases. In terms of finance, issuance of common shares requires higher underwriting costs and the average cost of capital may increase above the optimal level when too much equity is issued13. 4. 2. 2. 1. 2. Preference shares Legally, like common share, preference shares represent a part of ownership or equity of Xpresso Limited4.Whats more, in case of financial distress, claims of preference shareholders must be satisfied before common shareholders receive anything13. There is no default risk since non-payment of dividends does not necessarily mean bankruptcy. Preference dividend is fixed so that the company can plan to pay. Preference shareholders have no voting rights except in case of financial distress, which means there is no dilution of control. Call features and provision of sinking may be included so Xpresso may replace the issue if interest rates decline.There is one disadvantage that preference shares involve cumulative feature, which means in case Xpresso Limited does not have money to pay dividends in a particular year, the dividend keeps getting added to the next years dividend until the it is able to pay. (13) 4. 2. 2. 2. Retained profit There are advantage s to using retained profit as a form of finance due to the absence of brokerage costs (for example, merchant banks fees), its simplicity and flexibility, and all gains from investment will still ultimately belong to existing shareholders13.Besides, there are disadvantages as shareholders expectation of dividends may present a problem or insufficient earnings may be available4. 4. 3. Selection of appropriate sources of finance for a business project & assessment and comparison for various cost involved for each sources 4. 3. 1. Appropriate sources of finance As discussed above, it is proposed that Xpresso Delight Limited should use equity financing in forms of retained profit, issued share capital and debt financing in forms of loans in the capital structure.The main source that should be included is retained earning since it is the solidest source and has the least risk to the firm3. Issued shares and loans are the next choices as they bring many opportunities and a relatively reaso nable number of risks as well as liabilities. 4. 3. 2. Costs of sources 4. 3. 2. 1. Retained profit Costs of retained earnings include fixed expenses such as wages, rent, materials, electricity and so on tax cost dividends (dividends are a cost of retained earnings as well as a cost of share capital) certain costs if invested in the short term as not needed immediately and also opportunity costs4. . 3. 2. 2. Issued shares Costs of the issued share capital include flotation costs, dividends (cash dividend and scrip dividends- dividends in the form of new shares) cost of providing shareholders or owners with information about the performance of the business such as the cost of glossy financial reports, Annual General Meetings, audit fees and the administrative costs of company with legal and Stock Exchange requirements for disclosure of information to shareholders and also certain costs associated with investing them if not needed immediately4. 4. 3. 2. 3. LoansLoans have interest as the main cost. The rate of interest may either be fixed or variable but in the case of Xpresso Limited it is fixed. There are also other costs including an initial arrangement fee to cover lenders administrative costs on setting up the loan (checking references, setting up data on a computer system and so on) factors charge commission for advancing funds non-financial costs involved in the relationship between the company and creditors (for example, Xpresso will be required to provide the creditor with regular information about the performance of the business)4.That kind of non-financial cost may create the uncomfortable feeling of being watched for the owner. Opportunity cost is also included in this case as well. For instance, instead of paying interest of US$ 10,000 a year the business could do something else with that US$ 10,000 that might help generate income. 4. 3. 3. Options of capital structure There are three alternative capital structures that could be taken into account. Based on the comparison between their advantages and disadvantages, the most appropriate structure would be chosen. . 3. 3. 1. First structure For the first structure, it is to use 50% debt financing and 50% equity including 80% common share and 20% preference shares. That means US$ 15 million of debts, and US$ 15 million of equity including US$ 12 million of common shares and US$ 3 million of preference shares. The costs of sources are Rf = US$ 0. 167 million Rc = US$ 1. 84 million Rd = US$ 1. 69 million The total cost is 0. 167 + 1. 84 + 1. 69 = 3. 697 (US$ million) 4. 3. 3. 2. Second structureThe second structure is to use 25% debt financing and 75% equity financing including 80% common shares and 20% preference shares. That means US$ 7. 5 million of debts, US$ 22. 5 million of equity including US$ 18 million of common shares and US$ 4. 5 million of preference shares. The costs of sources are Rf = US$ 0. 25 million Rc = US$ 2. 81 million Rd = US$ 0. 84 million The total cost is 0 . 25 + 2. 81 + 0. 84 = 3. 9 (US$ million) 4. 3. 3. 3. Third structure The third structure includes 10% debt financing and 90% equity financing including 80% common shares and 20% preference shares.That means US$ 3 million of debts, and US$ 27 million of equity including US$ 21. 6 million of common shares and US$ 5. 4 million of preference shares. The costs of sources are Rf = US$ 0. 3 million Rc= US$ 3. 32 million Rd = US$ 0. 34 million The total cost is 0. 3 + 3. 32 + 0. 34 = 3. 96 (US$ million) As comparing the costs and the advantages & disadvantages of the three structures, it is to be said that the second structure is the best capital structure to apply for Xpresso Limited.Because although it does not has the lowest cost, the proportions of sources of finance included are the most appropriate option as the percentage of debts used (25%) is not too high for adding risks to the company but also ensures for the financial leverage (the tax relief) to be used. In addition, the cost of finance in this structure is still relatively low. 4. 4. The financial planning 4. 4. 1. Definition In general, financial planning is the process of developing strategies to help you manage your financial affairs so you can build wealth, enjoy life and achieve financial security5. . 4. 2. Importance for Xpresso Limited Financial planning involves achieving a balance between the requirements to minimize the risk of not having cash to pay creditors and the requirements to maximize the earnings made by using assets4. It plays a very important role in helping Xpresso co-ordinate and organize the internal system, set up detailed plans for using resources, as well as for paying debts and liabilities, develop strategies, and finally prepare for any potential incidents in the future7. For Xpresso, every transaction has to be well-planned to run the business efficiently. . 4. 3. Shortage & surplus of capital Capital surplus- the amounts of directly contributed equity capital in excess of the par value13 has a large impact on Xpresso Limited as it can be used to distribute as bonus dividends to shareholders, to reinvest as owners equity and it also helps to reduce the cost of capital mobilizing9. It helps gain more prestige for Xpresso but also gives more pressure on the management as they have a duty to use it effectively. Capital is one factor of production, therefore its shortage makes difficulties for Xpresso to operate and develop efficiently4.Even it can lead to bankruptcy if capital shortage is too large. 5. CONCLUSION It can be said that each and every source of finance has both advantages and disadvantages. The aim is to make use of the advantages and also to avoid the disadvantages of all sources. The best capital structure is to combine the appropriate sources to make the best use for the company. To conclude, the capital structure proposed is to use 25% debt financing and 75% equity financing including 80% common shares and 20% preference shares in estim ated US$ 30 million of capital.The cost of finance is US$ 3. 9 million. The structure has a relatively cost of finance and also ensures to make use of all advantages as well as minimizes all disadvantages of sources of finance used for expansion. As preparing a detailed and well-organized financial planning, there is a high rate of success for the expansion and other further developments of Xpresso Delight Limited Company. Appendix 1. Formula of cost debts + Before-tax cost Rdt = debts x 15% + After-tax cost Rd = Rdt x (1 t) Rd After-tax cost Rdt Before-tax cost t Corporate tax rate (t = 25%) . Formula of cost of issuing shares 1. Cost of issuing common shares Rc = Dc / Pc (1 ec) + g Dc dividend per share (Dc= US$ 0. 3) Pc value per share (Pc= US$ 1) ec flotation cost for ordinary share (ec= 17%) g rate of earnings growth (g= 15%) 2. Cost of issuing preference shares Rf = Df / Pf (1 ef) Df dividend per share (Df = US$ 5) Pf value per share (Pf = US$ 1) ef flotation cost for preference (ef= 10%) Reference 1. City & County of San Francisco (2002) Bond Financing Basics. San Francisco Controllers office 2.Communist party of Vietnam (2005) Procedure of borrowing from Vietnam bank for agriculture and rural development online. Updated 20 June 2005 accessed 29 November 2009. Available from http//www. cpv. org. vn/cpv/Modules/News/NewsDetail. aspx? co_id=30592&cn_id=223635 3. Edexcel HNC&HND business (2004) Business environment, London BPP professional Education 4. Edexcel HNC&HND business (2004) Managing financial resources and decisions, London BPP professional Education 5. Financial News (1996) online. eFinancialNews Ltd cited 26 October 2009 .Available from Internet http//www. efinancialnews. com/&sc=TWTAM000GS 6. Financial planning defined (2005) online Financial Planning Association cited 25 October 2009. Available from Internet http//www. fpa. asn. au/FPA_Content. aspx? Doc_id=1056 7. Hong, P. (2007) Capital surplus- to distribute or not?. Saga onlin e. Accession No. 362/GP-BC, 10 October, cited 1 December 2009. Available from http//www. saga. vn/Luatkinhdoanh/Luattrongnuoc/6794. saga 8. Hong, S. (2009) Organizational debentures attractive to foreign

Dimensions of brand personality or characteristics Essay

As shown in the figure above, the proportionalitys of rat traits take sincerity, competence, excitement, ruggedness and sophistication of the products or operate. In this regard, the dimensions can be sued for operationalising the dimensions of the characteristics of the put up structure. Different studies claim shown that the characteristic of a particularised provoker reveals their outmatch characteristic that outperforms their rival smirchs (Kapferer, 1997).The distinctive print characteristic provides the tag the world power to be exploited as a channel for self-expression, self-appraisals and self-definition for clients (Karande, Zinkhan & Lum, 1997). In addition, distinguish characteristic is a context linked with the multidimensional see to it of a specific label (Keller, 1993). These imply that the characteristic of the soft touch will trinity to brand image. The brand disposition dimensions can be sued evaluate or measure various brand images.It is noted that the brand personality dimension is a tumesce researched context to determine whether the brands is inviol fitting and telling (Austin et al, 2003, Phau & Lau, 2000). The more or less direct and simplest manner which has been recommended in measuring the strength and impellingness of the brand image is to solicit responses to different questions which pertains to a specific human traits (Keller, 2003).As mentioned above, one of the questions that should be answered in this paper is to determine the characteristics of a vigorous and utile brand. Different scholars have been able to establish some points to describe substantive and effective brands. It can be state that a specific brand is warm and effective if such brand have the dexterity to make up ones mind the consumer purchase behaviour. According to Keller (1993), a brand is punishing and effective if it has a significant impact on the purchase behaviour and finish making of the target commercialise.In addit ion, arduous brand is a brand which has the exponent to retain on the retentiveness and understanding of the clients associated with their purchasing conclusion making. Based on the brand concept of a target market, Dobni (1990) regarded brand image as the subjective consciousness phenomenon. Dobni (1990) have realized that it is not easy to understand how brand can retain on the memory and consciousness of the consumer but brand which has a strong image is forming finished the reason and perceptual connotation of the consumer.Furthermore, since the image of the brand does not physically exist in the products as well as in the entity, it is mentioned that a strong and effective brand has the power to influenced and meld by its brands declaration of specialties of their content and by the individuals who accept the image passim the purchase process. Hence, it is more essential consider the image of the brand than the consciousness appeared of fact to know whether the brand is strong and effective.In the explanation make by Aaker (1991), he mentioned that the brand is typically linked with the society in a meaningful manners and its strength and authority is reflected to different perspective of characteristics include the performance of the product, compare price, the interests of the customers, the behaviour of the clients, famous person/s, personality and life style, their competitors, product category, and former(a)s.Each of these characteristics has a different degree of enthusiasm to influence the strengths and effectiveness of the brand image. In addition, it can also be noted that strength and effectiveness of brand image of the products or services twisted by the caller-up can also bee attributed with the associated brand name to procure that the clients will purchase the products or services. The characteristics of a strong and effective brand can be divided to flexibility of the materials, the tangible and intangible feelings of the con sumer and others.A strong and effective brand is also considered as the one which has the ability to determine the products and services taken on their brands. It can be say that one of the characteristics of a strong and effective brand has the ability to conjure to its target market, and has the ability to become memorable among customers. Furthermore, a strong and effective brand also offers a unique image which separates it from other competing products or services.It can be noted that a company with a strong brand enables a specific service or product to screw itself from its rivals. From the study conducted in which 101 companies have been surveyed, the participants of the study revealed that having a strong and effective brand are indeed important to the success of the company and products, specifically new launches (Kohli & McBahn 1997). In addition, it is said that strong and effective brand has the ability to make statements to other audience.Having a strong and effecti ve brand enables the company to have a short-hand communication of what the organisation is and what it offers. Strong and effective brand create social acceptance and instant mutual experience among their clients. By having a strong and effective brand image, organisations can have the ability to relay to relay to the clients their intended market expression for the products or services they offer.Most likely, target market tends to buy strong and fiber or effective branded products and as time go by, this stigmatization change use- honor with image value. Furthermore, it can be said that the key percentage of a strong brand is based on the initiation of an incorporate approach in which industries are able to convey what they can offer relative to the competition, do what they are offering to the market and confirm it through consistent practice (Cai & Hobson, 2004).Accordingly, having a strong and effective brand and image to attain competitive advantage in the global market and to tolerate its strengths and effectiveness, the management of the company must be able to give value to the capabilities of the brand (Nguyen and LeBlanc (2001). In an organisation, having a strong brand is attributed to having quality products or services.In this regard, the company must be able to provide a pleasant experience for target market to establish a strong and competitive brand image which whitethorn lead to their competitive advantage. It is said that the strength of the brand can be established once the company is able to consistently provide the target market quality products and services. In a study conducted by Kim, Kim, and An (2003), they have stressed that a strong and effective brand image has the ability to take care the specific needs of the consumer and achieved consumer-based brand equity.Strong and effective brand image has the ability to influence the development of customer base of each of the company as well as the consequent enhancement in brand s fiscal performance. One of the significant characteristics of a strong brand has the ability to meet the viewpoint of the clients. Furthermore, a strong brand and effective brand has the ability to convey and update their information on the current trends in market demand and has the ability to formulate a strategy to fix its strengths and effectiveness through customer satisfaction.Strong brand has the ability to provide count customer satisfaction which was developed within the company from knowing that approximately of the target markets are trying to find products which have been used by other people based on its name alone. Another characteristic of a strong and effective brand is its ability to reach the feelings that clients and other establishments have about the company with regards to the evaluation and assessment of other competing brands.In doing so, the management or the company handling the brands must be able to reach the clients through marketing activities like advertising and promotions. Having a strong and effective image means that the brand has the ability to maintain and sustain their competitive advantage. These brands has the ability to maintain such image in the marketplace since a negative change for a brand name may decrease in target market and consequently of revenue. It is said that it takes in two ways as hard to rebuild a good and effective brand image rather than initially building it.