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49 Compare And Contrast Essay Topics To Help You Get Started
Wednesday, September 2, 2020
Heroics of Women in Ibsens A Dolls House Essay -- A Dolls House Essays
Heroics of Women in Ibsens A Dolls House The Heroics of Women Henrik Ibsenââ¬â¢s ââ¬Å"A Dollââ¬â¢s Houseâ⬠is a play about a youthful spouse and her better half. Nora and Helmer appear to be frantically infatuated with each other and content with their coexistences. However the contention comes into this show when Nora boasts to her companion Ms. Linde about how she had fashioned her fatherââ¬â¢s name to acquire cash to spare her husbandââ¬â¢s life and how she had been subtly taking care of this obligation. Helmer gets some answers concerning this wrongdoing and is angry, until he finds that nobody will ever think about it. This whole clash is composed to expose the ludicrous social desires requested of the two ladies and men. Ibsen expertly drives the crowd into tolerating that these social desires are stupid and wrong. The crowd gets tied up with this such a great amount of that at long last when Nora stands firm and will not bow down to what society requests of her, we consider her to be the saint. The social desires for men in the late nineteenth century was of a progressively male centric idea line then it is today. The man of the house was relied upon to be the sole supplier. This works best for the groups of that time, since they accepted that by characteristic plan men alone were fit for overseeing cash astutely and cautiously. The main scene of the show we see Helmer and Nora showcasing this conviction. Helmer comes in and he and Nora contend over what amount can be spent for Christmas. ââ¬Å"Has the little squanderer been out tossing cash around once more? (Ibsen 1569)â⬠He normally accept that Nora, being a lady, is out pointlessly squandering cash. This conviction comes normally to Helmer. He is the model man of his time, just as this one. He has a brilliant future ahead, thinks about his family, is benevolent to his w... ...e entryway of the loft she starts her excursion to discover reality and to leave the untruths and deceptions behind (Hemmer 82). She embarks to fix her whimsicalness by going out to learn of existence without somebody shading it to their satisfying for her. Noraââ¬â¢s shortcomings that are available all through the play are proof of her virtuous nature. Nora continually is chomping on and in this way concealing sweets, she off-handedly lies, and furthermore canââ¬â¢t oppose boasting to Ms. Linde about what she has done (Boyesen 214). Nora exits the entryway to get herself and to learn of life. She leaves the crowd much as Ms. Linde met them. She has no expectation or future and is distant from everyone else. She is resembled to Rank by his leaving his life into the obscure of death totally alone, and she leaves her life to enter the obscure of this present reality, the world that had been concealed and kept from her (Northam 108)
Saturday, August 22, 2020
Douglas Essay Example For Students
Douglas Essay Frederick Douglas Frederick Douglass was conceived in Tuckahoe, Maryland, close Hillsborough. He doesnt know without a doubt of his age, he has seen no verification and his lord won't educate him. Most experts favor for their captives to remain oblivious. He accepts that he was around twenty-seven and twenty-eight when he started composing his story he caught his lord say he was around seventeen years old during 1835. His mom, Harriet Bailey, was isolated from him when he was a baby and she passed on when he was seven years of age. Fredericks father was a white man who could have been his lord however he never discovered. Instruction was of most extreme significance in his life. He got his first exercise while living with Mr. also, Mrs. Auld. Sophia Auld, Fredericks fancy woman, was extremely accommodating to him and invested energy showing him the A, B, Cs. After he aced this, she helped him in spelling three and four letter words. Now in his exercise Mr. Auld experienced what his better half was accomplishing for Frederick and prohibit her to proceed. He accepted that on the off chance that you offer a nigger a bit of leeway, he will take an ell and proceeding with learning would ruin the best nigger on the planet. The experts felt that an oblivious slave framed a decision slave and any helpful learning would harm the slave and in this manner be pointless to his lord. His subsequent stage headed straight toward progress was during his seven years living with Master Hughs family. Frederick would warm up to the same number of white young men as he could in the city. His new companions would be changed into educators. At the point when he could, Frederick conveyed bread on him as a methods for exchange to the starving children for information. He would likewise convey a book whenever he had a task to run. The task would be finished rapidly, permitting additional examination time. At the point when Frederick was working in Durgin and Baileys transport yard he would see timber set apart with different letters. He before long found how the letters coordinated the kind of wood and the names of these letters. Any kid he met that could compose he would move them to a composing challenge. Frederick would utilize the letters he as of late learned and advised the youngster to challenge that. History
Friday, August 21, 2020
Cultural Relativism: A Way of Life Essay
ââ¬Å"If you are my child, it donââ¬â¢t matter if youââ¬â¢re dark or white.â⬠These words resound in my psyche as I heard the report about Michael Jacksonââ¬â¢s demise. His tune, Black or White is one of my top choices since it discusses a fatherââ¬â¢s acknowledgment of his youngster in spite of the babyââ¬â¢s shading. Afterward, when I experienced the term social relativism in school, I saw better what the tune needs to advance, and how this can be practiced. Social relativism is ordinarily known as the act of tolerating and living agreeably with individuals of various societies. On the off chance that we watch our general public today, we will see various types of peopleââ¬Africans, Caucasians, Asians, Latinos, and a great deal of blends coincide. Social relativism is the thing that permits them to live in harmony with one another, to acknowledge and regard different societies as they do their own. Thinking about the current situation, we may state that social relativism isn't only a training or part of life, it is as of now a lifestyle, an absolute necessity for each individual to live and thrive. In a perfect world, a general public that sticks to social relativism permits the presence and trade of various societies. In spite of the fact that this has not been completely acknowledged in numerous spots, we can ensure that it is as of now a typical part of the learning condition. In school, understudies find the opportunity to associate with others, and find parts of various societies. Ordinary connection with Asians, African-Americans, and Latin Americans permits us to see that all things considered, it isn't hard to exist together with various individuals. Regularly, all we need is to give chances to cooperation and sharing. In particular, in my dealings with various societies, I figured out how to welcome the difficult work of the Chinese, the inventiveness of the Japanese, the kind disposition of Filipinos, the family estimations of the Latinos, and the cool demeanor of the African-Americans. Social relativism has helped me acknowledge various societies, and permitted me to develop all the more maturely. To rehearse social relativism, I for one follow three stages. In the first place, I attempt to break down why individuals are acting the manner in which they do. I depend on my experience information to break down the circumstance. Next, I watch and see the beneficial outcomes of their training, and third, I attempt to discover more data about the training by inquisitive from the individual or examining on the web. For instance, seeing the Chinese taste the soup out of the bowl without utilizing spoon at first made me felt detached. In any case, in applying social relativism, I attempted to investigate why they do this as opposed to utilizing a spoon. At that point, I understood that the Chinese use chopsticks rather than spoon, making it difficult to have the soup without tasting it legitimately from the bowl. Additionally, once I experienced a Japanese narrative indicating a man idealizing a blade. He appeared to be careless of the shoot he used to shape the blade, and from that point I asked why the Japanese give such significance to swords when weapons are progressively solid for insurance. Because of this, I looked the Internet for answers, and discovered that consummating blades is a piece of the Japanese Samurai culture, the military men throughout the entire existence of Japan. I discovered that the Samurais treat blades as their friend in fight, and swords fill in as portrayals of them. Hence, a Samuraiââ¬â¢s blade ought to be very much kept consistently on the grounds that it is a family legacy and image of respect. Information on othersââ¬â¢ culture unquestionably encourages us comprehend and welcome them. In any case, there are likewise rehearses which I trust I can't acknowledge despite the fact that I as of now have a decent handle of social relativism. One of these is the self destruction murdering done by 9/11 ruffians. Not at all like the Japanese form of self destruction which would like to communicate a personââ¬â¢s lament for a misstep submitted, self destruction slaughtering among the Muslims expects to murder non-Muslims on the bases of strict and political clashes. What makes it really wrong is murdering blameless individuals for some narrow minded aim. Thinking about this, social relativism turns into a troublesome part of the real world, like pushing a youngster to gulp down an entire new egg directly to the stomach.
Friday, June 5, 2020
Case Study - Free Essay Example
BSB, INC. : The Pizza Wars Come to Campus ââ¬âSource: This case was prepared by Dr. Brooke Saladin, Wake Forest University, as a basis for classroom discussion. Renee Kershaw, manager of food services at a medium-sized private university in the Southeast, has just had the wind taken out of her sails. She had decided that, owing to the success of her year-old pizza service, the time had come to expand pizza-making operations on campus. However, yesterday the university president announced plans to begin construction of a student center on campus that would house, among other facilities, a new food court. In a departure from past university policy, this new facility would permit and accommodate food-service operations from three private organizations: Dunkinââ¬â¢ Donuts, Taco Bell, and Pizza Hut. Until now, all food service on campus had been contracted out to BSB, Inc. CAMPUS FOOD SERVICE BSB, Inc. , is a large, nationally operated food-services company serving client organi zations. The level of service provided varies, depending on the type of market being served and the particular contract specifications. The company is organized into three market-oriented divisions: corporate, airline, and university or college. Kershaw, of course, is employed in the university or college division. At this particular university, BSB, Inc. , is under contract to provide food services for the entire campus of 6,000 students and 3,000 faculty, staff, and support personnel. Located in a city of approximately 200,000 people, the campus was built on land donated by a wealthy industrialist. Because the campus is somewhat isolated from the rest of the town, students wanting to shop or dine off campus have to drive into town. The campus itself is a ââ¬Å"walkingâ⬠campus, with dormitories, classrooms, and supporting amenities such as a bookstore, sundry shop, barber shop, branch bank, and food-service facilitiesââ¬âall within close proximity. Access to the ca mpus by car is limited, with peripheral parking lots provided. The university also provides space, at a nominal rent, for three food-service facilities. The primary facility, a large cafeteria housed on the ground floor of the main administration building, is located in the center of campus. This cafeteria is open for breakfast, lunch, and dinner daily. A second location, called the Dogwood Room, on the second floor of the administration building, serves an upscale luncheon buffet on weekdays only. The third facility is a small grill located in the corner of a recreational building near the dormitories. The grill is open from 11 A. M. to 10 P. M. daily and until midnight on Friday and Saturday nights. Kershaw is responsible for all three operations. THE PIZZA DECISION BSB, Inc. , has been operating the campus food services for the past 10 yearsââ¬âever since the university decided that its mission and core competencies should focus on education, not on food service. Kersha w has been at this university for 18 months. Previously, she had been assistant manager of food services at a small university in the Northeast. After 3 to 4 months of getting oriented to the new position, she had begun to conduct surveys to determine customer needs and market trends. An analysis of the survey data indicated that students were not as satisfied with the food service as Kershaw had hoped. A large amount of the food being consumed by students, broken down as follows, was not being purchased at the BSB facilities: Percent of food prepared in dorm rooms Percent of food delivered from off campus Percent of food consumed off campus 20 36 44 The reasons most commonly given by students were (1) lack of variety in food offerings and (2) tight, erratic schedules that didnââ¬â¢t always fit with cafeteria serving hours. Three other findings from the survey were of concern to Kershaw: (1) the large percentage of students with cars, (2) the large percentage of students with refrigerators and microwave ovens in their rooms, and (3) the number of times students ordered food delivered from off campus. Percent of students with cars on campus Percent of students having refrigerators or microwaves in their rooms Percent of food that students consume outside BSB, Inc. , facilities 84 62 43 In response to the market survey, Kershaw decided to expand the menu at the grill to include pizza. Along with expanding the menu, she also started a delivery service that covered the entire campus. Now students would have not only greater variety but also the convenience of having food delivered quickly to their rooms. To accommodate these changes, a pizza oven was installed in the grill and space was allocated to store pizza ingredients, to make cut-and-box pizzas, and to stage pre-made pizzas that were ready to cook. Existing personnel were hired to deliver them by bicycle. In an attempt to keep costs down and provide fast delivery, Kershaw limited the combinations of topping available. That way a limited number of ââ¬Å"standard pizzasâ⬠could be preassembled and ready to cook as soon as an order was received. THE SUCCESS Kershaw believed that her decision to offer pizza service in the grill was the right one. Sales over the past 10 months have steadily increased, along with profits. Follow-up customer surveys indicated a high level of satisfaction with the reasonably priced and speedily delivered pizzas. However, Kershaw realized that success brought with it other challenges. The demand for pizzas had put a strain on the grillââ¬â¢s facilities. Initially, space was taken from other grill activities to accommodate the pizza oven, preparation, and staging areas. As the demand for pizzas grew, so did the need for space and equipment. The capacities of existing equipment and space allocated for making and cooking pizzas now were insufficient to meet demand, and deliveries were being delayed. To add to the problem, groups were beg inning to order pizzas in volume for various on-campus functions. Finally, a closer look at the sales data showed that pizza sales were beginning to level off. Kershaw wondered whether the capacity problem and resulting increase in delivery times were the reasons. However, something else had been bothering her. In a recent conversation, Mack Kenzie, the grillââ¬â¢s supervisor, had told Kershaw that over the past couple of months requests for pizza toppings and combinations not on the menu had steadily increased. She wondered whether her on-campus market was being affected by the ââ¬Å"pizza warsâ⬠off campus and the proliferation of specialty pizzas. THE NEW CHALLENGE As she sat in her office, Kershaw thought about yesterdayââ¬â¢s announcement concerning the new food court. It would increase competition from other types of snack foods (Dunkinââ¬â¢ Donuts) and fast foods (Taco Bell). Of more concern, Pizza Hut was going to put in a facility offering a limited men u and providing a limited selection of pizzas on a ââ¬Å"walk-up-and-orderâ⬠basis. Phone orders would not be accepted nor would delivery service be available. Kershaw pondered several crucial questions: Why had demand for pizzas leveled off? What impact would the new food court have on her operations? Should she expand her pizza operations? If so, how? Questions 1. How would you describe the mission of BSB, Inc. , on this campus? Does BSB, Inc. , enjoy any competitive advantages or core competencies? . Initially, how did Renee Kershaw choose to use her pizza operations to compete with off-campus eateries? What were her competitive priorities? 3. What impact will the new food court have on Kershawââ¬â¢s pizza operations? What competitive priorities might she choose to focus on now? 4. If she were to change the competitive priorities for the pizza operation, how might that affect her operating processes and capacity decisions? 5. What would be a good flow strategy for Kersha wââ¬â¢s operations on campus to meet the food court competition?
Sunday, May 17, 2020
Openess Trade and Growth Essay - 1086 Words
The economic growth story is as long as the history of economic thought. Since the early classics like Adam Smith, David Ricardo and Thomas Malthus studied the issue of growth or introduced fundamental concepts such as diminishing returns and their relationship with the accumulation of physical or human capital, the relationship between technological progress and labor specialization or focus competitive analysis tool dynamic equilibrium. As part of these theories appears arises that relationship between trade openness and economic growth is positive. These theories between trade openness and economic growth can be located more than 200 years, with the mercantilist theories. Under these concepts, International trade benefited a nationâ⬠¦show more contentâ⬠¦There are several authors that put emphasis on the role of international trade as the main conduit of economic development. Influential papers in this school include Sach and Warner (1995), Frankel and Romer (1999), and Dollar and Kraay (2003). In these papers, trade strongly fosters economic convergence among countries and regions. The degree of trade openness has been a topic of debate in the literature in recent years for its effect on the growth of countries. There are many measures Some authors argue that trade openness is positive because to diversify the supply and provision of goods and services to a emergency. The other position assumes that trade liberalization does not imply any benefit as all internalize external shock quickly. Dollar and Kraay (2001) argue that countries with higher trade liberalization or globalized tend to grow faster than non-global. In contrast, Birdsall and Hamoudi (2002) argue that countries dependent on primary products have a lower rate growth and trade liberalization is not the only factor impact on growth but also the composition of exports. These authors divided the country in very dependent or less dependent on natural resources and equated to the terminology of Dollar and Kraay (2001) of countries globalized and non-globalized. Birdsall and Hamoudi also argue that there are other elements linked to trade liberalization, and out of control authorities affecting the use ofShow MoreRelatedQatar : The Richest Countries1735 Words à |à 7 Pagescooporations, with itââ¬â¢s own high tech centers, biometrical facilities and so onâ⬠. Singapore is to encouraging growth and breath through, citing evidence from the website http://www.worldatlas.com/articles/the-richest-countries-in-the-world.html states ââ¬Å"The basics of Singaporeââ¬â¢s wealth is its financial sevices secter, a chemical export industry , and its liberal economic policies that encourage growth and innovationâ⬠. Furthermore, the next top fourth is Kuwait. Kuwait is a small country near the UAE statedRead MoreDoes Economic Globalization Affect Interstate Military Conflict?1791 Words à |à 8 Pages II The one among trade and peace is an old story. Yet in the XVII century Montesquieu (1758) wrote ââ¬Å"Peace is the natural effect of trade. Two nations who traffic with each other become reciprocally dependentâ⬠. Another giant of that time, Immanuel Kant (1795), seems to share this point of view in his Essay on Perpetual Peace. At the beginning of XX century Norman Angelââ¬â¢s work ââ¬Å"The Great illusionâ⬠, 1909 still supported this liberal view of peace by trade. Focusing on trade between Germany andRead MoreHuman Resource Management Essay4821 Words à |à 20 Pagesvariety of work settings include; quarries, wharves, asphalt plants, concrete plants and recycle sites. Industrial relations: arose to the growing power of trade unions involvement in disputes, collective bargaining, negotiation and industrial law and regulation. The practitioner as a bureaucrat (control of labour) due to the increase growth and change of workplace activity such as: job allocation and performance monitoring; time keeping and control of absenteeism; sick leave and holidays; pay andRead MoreSetting The Scene From Block Grant Based Funding3768 Words à |à 16 PagesUK economy, HEIs are now required to compete in ever-more challenging global markets (HEFCE BIS grant letter 2015). HEIs recent successes have been and will continue to be vital to the UKs future economic prospects as the country enters a period of growth. (HEFCE s annual grant letter from BIS) With tuition fees for UK students at à £9,000 and circa à £12,000 per year for international students, there is an increased expectation for highly able academics, flexible learning styles and high quality facilitiesRead More8 Week Pre-Marital Counseling Session Essay4296 Words à |à 18 Pagesgain insight onto what Godââ¬â¢s Word says about marriage and how conflicts are to be handled. The Love Test assignment is given so each of the couple can better understand how they feel loved and how their spouse feels loved. This is vital for the growth of their relationship. The Marital Needs Survey and Your Role Concepts Comparison homework assignments will help the couple see how their potential mate sees the role of their spouse. This can give valuable insight into each other. The 10 Important
Wednesday, May 6, 2020
Love And Its Misuse And Misinterpretation - 1002 Words
ââ¬Å"The most misinterpreted and misused word is the word, love. It is apparent that the theory and practices of some individuals and groups in our society today who use words, phrases and slogans of love do not convey its real meaning and are used out of contextâ⬠(Love and its Misuse and Misinterpretation. (n.d.). Retrieved October 6, 2015). We love food, dogs, learning; but what is love according to relationships and what does love look like. Even though the undefinable emotion is commonly used throughout American culture as a simple expression it has more meaning. Everyone wants love, but no one is sure on what that looks like. A researcher named John Alan Lee developed six different love styles that people tend to fall into. In this paper I will discuss the six different love styles in relation to my ââ¬Å"Love Styleâ⬠Inventory, and ââ¬Å"Are You a Good Listenerâ⬠survey. When trying to understand love, one must know how to communicate. When communicating, l istening is probably the most important element for any relationships rather intimate or professional. Many people, including myself, strongly feel as though they are great listeners and do not need any improvement in this particular skill. However, according to ââ¬Å"Are You a Good Listenerâ⬠survey, my listening skills were not up to par. Scoring a 97 out of 125, showed me that Iââ¬â¢m a good listener but not quite perfect. An exceptional listener is someone who is gifted, selfless, and overall enjoys conversing with others. MyShow MoreRelatedThe Theory Of Natural Selection843 Words à |à 4 Pagescleric. Therefore in his writings he uses morally loaded language to reflect Christian Bibleââ¬â¢s morals. The black-and-white of nature in the ââ¬Å"ejectingâ⬠¦foster brothersâ⬠¦ants making slavesâ⬠¦Ã¢â¬ detracts from the overall theme of love taught in the Bible which encourages not only the love of brothers but also charity and kindness. By Darwinââ¬â¢ s time, slavery in England had been abolished and abhorred for decades. These actions seen in nature are not readily welcome into the lives of men. God still holds manRead MoreThe Drawbacks of Freedom Essay947 Words à |à 4 Pagesfaulty rationale in the first paragraph as he says, ââ¬Å"Everyone loves free expression as long as it isnt exercisedâ⬠. Here, Roger reveals the contradiction between the peopleââ¬â¢s demand for the expansion of their freedoms, and their unwillingness to tolerate the results. Simply put, Roger believes that people support freedom of speech as long it does not affect or offend them. He reinforces his assumption through examples that show the misuse of a limitless freedom. Roger gives two examples that displayRead MoreEssay on The Old Testament Law1260 Words à |à 6 Pagesirrelevant by most modern Christians today. Christians are now under the blood of Jesus Christ, which is said to abrogate the Law. Galatians 6:2 says, ââ¬Å"Bear one anothers burdens, and thereby fulfill the law of Christâ⬠(NASB). The law of Christ is to love God and your neighbor as yourself (Matthew 22:36-40). This does not mean, however, that the Old Testament Law does not apply to Christians today. Author J. Daniel Hays expounds on this topic in his article, ââ¬Å"Applying the Old Testament Law Today,â⬠andRead MoreSolving How Statistics Could Be Done Incorrectly1289 Words à |à 6 Pagessixty percent of students drink at least one cup a day (Lecture 24). The only problem is that they randomly sampled two hundred students from the school, which can lead to misleading conclusions since they could possibly choose a group of students of love coffee, but the rest of t he students that were not surveyed could dislike coffee. This would lead the new coffee shop into closing down from the lack of sales. When researchers do not receive the conclusions they were expecting, they switch to p-hackingRead MoreJihad : The World Is Mindful Of The Term `` Jihad ``1407 Words à |à 6 Pagesviews on Jihad, he said, ââ¬Å"Jehad combats inner destructive emotions. Everybody carries Jehad in their hearts, including meâ⬠(3). The lack of religious understanding in this materialistic era allows terms like Jihad to be hijacked by the extremist who misuses it for the sake of terrorism and creates chaos all around the world. Moreover, Jihad is an important aspect of Muslim life where a believer is conscious of his Creator and struggles to stay away from evil all around, it has become a part of extremismRead MorePsychology, Theology, And Spirituality1658 Words à |à 7 Pagesclientââ¬â¢s best interest to not use it in sessions. Prayer is one of the many methods McMinn expands upon. He advocates that although prayer is beneficial to use in sessions, it may not be the best option for every client. To help express this McMinn shows misuse of prayer in the Bible. He references Jesusââ¬â¢ description of the Pharisees prayers and how they were viewed as social acts and not true communication with God. McMinn (2011), believes that routine in session prayer is dangerous and has the potentialRead MoreQuantitative Methods in Decsion Making Essay1584 Words à |à 7 Pagesethical problems to which biblical norms of love, justice, truth, honesty and authority should apply, and there is a connection between the statistics and the God be worships. There are various contexts within which statistics may be viewed, and clearly there is room for a Christian point of view. According to The International Statistical Institute Declaration on Professional Ethics (1986), which calls on statistician to guard against misinterpre tations or misuse of statistical material to make an impartialRead MoreCommunication Within Health And Social Care Settings Essay2274 Words à |à 10 Pagesinformation by speech, writing, or signs.â⬠This implies that communication can be verbal, non-verbal, written or spoken. Communication is very important within health and social settings as it allows information to be understood clearing, reducing misinterpretations. This therefore can lead to the growth and development of the practice within health and social care. Communication within health and social care settings can be applied to the four theories of communication: humanistic, cognitive, behavioristsRead MoreInternet Addiction1662 Words à |à 7 PagesInternet Addiction Introduction While some media news and reports seem to be truthful in their effort to inform and educate the public regarding internet addiction, it is not surprising to see bad science and misinterpretation presented in others on the same issue. The media coverage of internet addiction is damaging and blowing the issue out of context. The widespread internet concern is reinforced and underpinned by media reporting about internet addiction and young people, characteristicallyRead MoreI Was Recently Watching A Video On Facebook Of A Woman1800 Words à |à 8 Pagesare against Muslims in America are uninformed, certainly a large percentage are. This causes a problem because the more uneducated we are about Islam the more we accept any information that may or may not be true. The misleading news banners and misuse of words like jihad is to blame for the uneducated, not innate hatred, for the most part. The word that every news organization likes to throw around is ââ¬Å"jihadâ⬠. According to Aslan on page 81 of his book ââ¬Å"No God but Godâ⬠, he describes jihad as having
Tuesday, May 5, 2020
Fundamentals Of Finance Medibank Private Limited
Questions: One of the most popular forms of investing is investing in shares. Shares may be bought in Initial Public Offerings (IPOs) as an initial subscriber, through a prospectus. These shares can later be sold on a stock exchange when those shares are listed. Use the Medibank Private Limited prospectus in the course notes section of the myMIBT portal. Medibank Private Limited is making an IPO seeking to raise equity capital in Australia. Requirement 1 1. What is a prospectus and what are the major components within a prospectus? When a prospectus is issued, whom does it need to be lodged with in Australia?2. What are three listing requirements for listing on the Australian Securities Exchange (ASX)? In what industry group would Medibank Private Limited be classified on the ASX? 3. Does the company intend on paying a dividend? If so, when and how much? What are fully franked dividends?4. What is the issue price per share and how much is expected to be raised from the IPO? Who will receive the proceeds from the share offer and how will the funds raised be used?5. Distinguish between retail and institutional investors. Make use of the Medibank Private Limited retail and institutional offer to support your answer.6. The offer to purchase shares in the Medibank Private Limited IPO is now closed. What would be the process to acquire shares in Medibank Private if you missed this offer.7. Assuming your group bought shares in the Medibank Private IPO, do you think your decision was correct? Explain by comparing the information in the prospectus with the current market price on the ASX.Requirement 2Your group manages investment funds and your job is to advise clients on what portfolio best suits their needs, given their characteristics.You have three different customer types:I. A young Deakin Commerce graduate (Mark) with a long and successful career ahead of him.II. A middle aged couple (Mr. and Mrs. Smith) who are high income earners. They plan to retire in 10 years time.III. An older member of the work force (John) who is hoping to retire in the next 18 months.There are 3 different portfolio packages that you offer clients:PORTFOLIO X: 40% bonds; 50% cash; 10% property.PORTFOLIO Y: 40% shares; 40% bonds; 20% property.PORTFOLIO Z: 80% shares; 15% property; 5% bonds.Task is to answer the following questions by referring to your textbook, other finance books, the media, the internet etc.:1. By using the information in TABLE ONE (page 4) calculate the expected (average) return, denoted by E(R), and the risk (standard deviation), denoted by , for each of the four asset classes as well as the three portfolios in Table One and include your answers in the table. The completed table should be submitted with your assignment. Show ALL workings in the Appendix after the reference list. All final calculations should be correct to two decimal places (two numbers after the dot point) expressed as a percentage. The workings in the appendix may be hand-written.2. Describe the features and important characteristics of each of the three portfolios in Table One. Include in your answer the meaning of a portfolio and a discussion of the expected return and risk of the three portfolios relative to the individual asset classes that comprise the portfolios. Use the results/numbers in Table One to illustrate. 3. For each of the three customer types that you have, recommend the most suitable portfolio option and justify your choice. Use language here that the customers will understand. You should use a graph here to show the historical return performance of each of your portfolios to assist with your recommendation. Table One: Historical returns for the major asset classes YEAR TO SHARES PROPERTY BONDS CASH PORTFOLIO PORTFOLIO PORTFOLIO DEC. X Y Z 1994 -8.7% -5.6% -4.7% 5.3% 0.21% -à ¢Ã¢â ¬Ã 6.48% -à ¢Ã¢â ¬Ã 8.04% 1995 20.2% 12.7% 18.6% 8.0% 12.71% 18.06% 19.00% 1996 14.6% 14.5% 11.9% 7.6% 10.01% 13.50% 14.45% 1997 12.2% 20.3% 12.2% 5.6% 9.71% 13.82% 13.42% 1998 11.6% 18.0% 9.5% 5.1% 8.15% 12.04% 12.46% 1999 16.1% -5.0% -1.2% 5.0% 1.52% 4.96% 12.07% 2000 3.6% 17.8% 12.0% 6.2% 9.68% 9.80% 6.15% 2001 10.1% 14.6% 5.5% 5.3% 6.31% 9.16% 10.55% 2002 -8.1% 11.8% 8.8% 4.8% 7.10% 2.64% -à ¢Ã¢â ¬Ã 4.27% 2003 15.9% 8.8% 3.0% 4.9% 4.53% 9.32% 14.19% 2004 27.6% 32.0% 7.0% 5.6% 8.80% 20.24% 27.23% 2005 21.1% 12.5% 5.8% 5.7% 6.42% 13.26% 19.05% 2006 25.0% 34.0% 3.1% 6.0% 7.64% 18.04% 25.26% 2007 18.0% -8.4% 3.5% 6.8% 3.96% 6.92% 13.32% 2008 -40.4% -54.0% 14.9% 7.6% 4.36% -à ¢Ã¢â ¬Ã 21.00% -à ¢Ã¢â ¬Ã 39.68% 2009 39.6% 7.9% 1.7% 3.5% 3.22% 18.10% 32.95% 2010 3.2% -1.1% 6.0% 4.4% 4.49% 3.46% 2.70% 2011 -10.5% -1.5% 11.4% 5.0% 6.91% 0.06% -à ¢Ã¢â ¬Ã 8.06% 2012 18.8% 33.0% 7.7% 5.0% 8.88% 17.20% 20.38% 2013 20.2% 7.1% 0.7% 3.0% 2.49% 9.78% 17.26% E(R) Answers: Requirement 1 1. A prospectus is a document that describes and issues. This includes the notice, circular, advertisement or the other such documents that invites the deposits form the public and invites offers from the public for the subscription or the purchase of the shares in or the debentures of the day corporate. The following are the main contents of the prospectus:a. The main object with which the company is formed with the names, addresses, description and the occupation of the signatories to the memorandum and the number of shares that have been subscribed by themb. The number and the classes of the shares along with the nature and the extent of the interest of the holders in the property and the profits of the companyc. The number of the redeemable preference shares that are intended to be issued and the date of the redemption and where n such date has been fixed, then the period of the notice that is required for the redeeming of the shares and the method of the redemption that will be usedd. The number of the shares, if any, that have been fixed by the Article as the qualification of the director and the remuneration of the directors for the servicee. The names, occupations and the addresses of the directors, managing directors and the manager together with the provision of the Articles or the contract relation with the appointment remuneration or the compensation for the loss of officef. The time of opening the list of subscription g. The amount that is payable on application and at the time of the allotment of the share must be stated in it. In case, the prospectus is issued within the period of 2 years, then the details of the shares that have been subscribed for any allotmenth. The particulars of any option or the preferential rights that are to be given to any person to subscribe for the shares or the debentures of the companyi. The number of the shares or the debentures which within the period of 2 preceding years have been issued for the consideration othe r than cashj. The particulars about the premium that have been received on the shares within the period of 2 preceding years or are to be receivedk. The amount of the underwing commission or the arte thereofl. The preliminary expensesm. The names and the addresses of the auditors of the companyn. Where the shares of more than one class have bene issued, then the rights of the voting and the rights as to the capital and the dividend that would be payable for each class of the shareso. In case, the reserves or the profits of the company have been capitalised, then the amount of and the amounts of the surplus from the revaluation of the assets of the companyp. The reasonable time and the place at which the copies of all the books of accounts have been kept on which the report of the auditors is based and can be inspected.(Palekar, 2015)As per the regulation guide 56, Prospectuses, Stage 2, the lodgement and the registration, the ASC accepts the lodgement and considers the application f or their registration as and when applicable. (ASIC, 2015) 2. The listing requirements of the country are tailored to support the companies that are in the early stage and the mature companies. The listing of the companies on the ASX could be completed using the Initial Public Offer in which the capital is raised at the time of the listing through the method of the compliance listing. The rules of the listing sets out the specific requirements that an organization is required to meet in order to list out the ASX market and is underpinned by the set of the principles so as to ensure the quality of the market that the ASX operates. In order to be eligible for the listing on ASX, the company must satisfy the minimum admission criteria and this includes the structure, size and the number of the shareholders. (ASX, 2015)The company belongs to the Australian healthcare industry. (ASX, 2015)3. The future shareholders of the company will receive an inaugural dividend of 4.9 cents for each share in September 2015. Medibank will also plan to pay the government a $42 million worth of final dividend along with the $196.8 million of special dividend.(Australian.au, 2015)Fully franked dividends are the dividends on which the taxes have already been paid. This means that the shareholders are entitled to the amount of the taxes that the company ahs paid.(Monet smart, 2015)The forecasted fully franked dividend up to 7 months is 4.9 cents per Share.(Medibank Private Limited, 2015) 4. The company will issue its share at the price of $1.55-$2 and intends to raise 2,754 million.The Commonwealth will receive the proceeds of the Offer. None of the proceeds of the Offer will be received by Medibank PrivateThe Australian Government has announced that the proceeds from the sale of Medibank Private will be re-invested into productivity enhancing infrastructure through the Australian Governments Asset Recycling Initiative.5. The institutional offers comprises of the invitation to bid for the shares that are made to the investors of the institution and includes the following:a. The institutions of Australia and New Zealand under the prospectusb. The institutions that come under the number of a selected international jurisdiction under the Institutional offeringc. The brokers that elect to bid for the shares under the Institutional offer on behalf of their Australian and the New Zealand resident retail clients under the prospectus as the broker sponsored bids. 6. The reta il offer under the prospectus comprises of the following:a. The holders of the policies that are open to the eligible policyholders that can apply for the shares at the retail price b. The offers that are extended for the employees that are open to the eligible employees so that they can apply to the shares at the retail pricesc. The offer of the broker firm that is open for Australia and New Zealand resident clients of the retailsd. The general public offer that is open to the Australian retail investors and comprises of the invitation so as to apply for the shares at the retail prices.e. From stock exchange.f. The current market price of the share is $2.40. Yes, since even if the share is sold, the profit of $0.25 or $0.40 can be earned as the share was bought for $2.15 or $2 and can be sold at $2.40.(ASX, 2015) Requirement 2 1. The following are the required calculations: Historical returns (in %) Particulars Year Shares Property Bonds Cash Portfolio X Portfolio Y Portfolio Z 1994 -8.7 -5.6 -4.7 5.3 0.21 -6.48 -8.04 1995 20.2 12.7 18.6 8 12.71 18.06 19 1996 14.6 14.5 11.9 7.6 10.01 13.5 14.45 1997 12.2 20.3 12.2 5.6 9.71 13.82 13.42 1998 11.6 18 9.5 5.1 8.15 12.04 12.46 1999 16.1 -5 -1.2 5 1.52 4.96 12.07 2000 3.6 17.8 12 6.2 9.68 9.8 6.15 2001 10.1 14.6 5.5 5.3 6.31 9.16 10.55 2002 -8.1 11.8 8.8 4.8 7.1 2.64 -4.27 2003 15.9 8.8 3 4.9 4.53 9.32 14.19 2004 27.6 32 7 5.6 8.8 20.24 27.23 2005 21.1 12.5 5.8 5.7 6.42 13.26 19.05 2006 25 34 3.1 6 7.64 18.04 25.26 2007 18 -8.4 3.5 6.8 3.96 6.92 13.32 2008 -40.4 -54 14.9 7.6 4.36 -21 -39.68 2009 39.6 7.9 1.7 3.5 3.22 18.1 32.95 2010 3.2 -1.1 6 4.4 4.49 3.46 2.7 2011 -10.5 -1.5 11.4 5 6.91 0.05 -8.06 2012 18.8 33 7.7 5 8.88 17.2 20.38 2013 20.2 7.1 0.7 3 2.49 9.78 17.26 Expected return 10.505 8.47 6.87 5.52 6.355 8.6435 10.0195 Standard deviation 16.8879 18.7136 5.5771 1.24201 3.135143537 9.543115464 15.55949757 Portfolio: X Y Z Expected return 6.355 8.644 10.018 Standard deviation 4.7232 12.7287 16.5962 2. The portfolio for an investment is the collection of the assets that are owned by an individual or the institution. The portfolio of an investor could include the real estate that are sometimes called hard assets. But most of the portfolios that exist today are assembled so as to pay for the retirement and are mad up of the securities such as the stocks, bonds, and mutual funds. Money market funds and the exchange traded funds. The best retirement portfolios consist of a range of the cautious US treasury bonds that are zipped to the stocks of the small companies as a part of the effort to dampen the losses of the market and to maximize the potential gains.(Money control, 2015)Risk is defined as the degree of the volatility of the returns on the portfolio and is measured by the standard. For example, the portfolio that has a higher risk will increase faster in the faster markets when compared with the bad markets.Return is the growth rate of the portfolio. The irks and return must be considered together since some of the investors consider higher returns but are willing to take less risk and some are willing to take more risk for a lesser amount of return.(BNL, 2015)In respect of portfolio X, 40% bonds; 50% cash; 10% property is invested. If the investment is made in the US bonds, then it is entails 0 risk but then the return is also less. Cash will always remain exactly the same since a $10 note will remain as it is now. Property is a volatile market. This portfolio entails a lesser amount of return coupled with a lesser amount of return as well.In respect of portfolio Y, 40% in shares; 40% in bonds; 20% in property. This is considered to be riskier when compared with the portfolio X but then the return is also less when compared with the portfolio X.In respect of portfolio Z, 80% shares; 15% property; 5% bonds. This portfolio has the maximum return coupled with the maximum amount of return. 3. There are many people that are successful at each and every stage of investing. Actually, there are the following types of the investors:a. Savers: these are the investors that spend the majority of their life in saving so as to ensure that they have a stable and a happy retirement. These are the people that diversify their investment by investing in the different types of the assets. They indulge in the hedging of the investment with the other non-co-related investment and then ultimately, start generating an annual return in the range of 3 to 4%. These people save money and seek for the low risk of the capital and return that is willing to accept the relatively lower rate of the return. The saver follows the policy of investing all his money in the certificate of deposit and they usually go for the long term financial stability instead of taking the risks so as to benefit from it. These types of the investors are suitable for the portfolio like that of X with 6.355% of return an d 4.7232% risk. b. Speculators: the speculators are the people that take control over their investments and solely aim at their financial independence. They are the ones that are happy for forgo the lower rate of the returns of a diversified portfolio so that they can achieve the higher rate of the returns. They like investing their money in the stocks funds, funds of the real estates and other such categories. They have the higher rates of the returns than the savers and are willing to do and try to take the risks so as to get those returns. They do not hesitate in investing money in the options account and the derivatives account for trading. They are much like gamblers who like to invest their money just as they are. Such types of the investors would be happy with the portfolio Y with 8.644% of return and 12.7287% of risk.c. Specialists: then there are the specialists that believe in investing in the classes of the assets among the various ranges. But they do know the fact that t hey need to invest their money at the right time and in the right securities. The specialist are the people that pick up one area and then invest in that area and gain a lot of experience so that they become an expert in it. Some of the people invest in the paper assets whereas the other deal in real estate and some even start the businesses. The people know the area of their investment inside and out and they just keep on entering and exiting the investments. For such people, the best investment will be portfolio Z with the maximum return of 10.018% and with the maximum risk of 16.5962%.(Three types, 2015) References Asx.com.au, (2015). company.name_full. [Online] Available at: https://www.asx.com.au/asx/research/company.do#!/MPL [Accessed 13 Jan. 2015]. Asx.com.au, (2015). company.name_full. [Online] Available at: https://www.asx.com.au/asx/research/company.do#!/MPL/details [Accessed 13 Jan. 2015]. Asx.com.au, (2015). Information on ASX listing requirements. ASX listing requirements are tailored to support both early stage and mature companies... [Online] Available at: https://www.asx.com.au/listings/listing-capital-raising/listing-requirements.htm [Accessed 13 Jan. 2015]. Bnl.co.nz, (2015). Investment management | portfolio management advice. [Online] Available at: https://www.bnl.co.nz/services/investment-management-advice.html [Accessed 13 Jan. 2015]. download.asic.gov.au, (2015). Regulations. [Online] Available at: https://download.asic.gov.au/media/1239002/rg56.pdf [Accessed 13 Jan. 2015]. Moneycontrol.com, (2015). Investment Portfolio Definition. [Online] Available at: https://www.moneycontrol.com/glossary/retirement-planning/investment-portfolio-definition_3806.html [Accessed 13 Jan. 2015]. Moneysmart.gov.au, (2015). Glossary - fully franked dividend | Money Smart by ASIC. [Online] Available at: https://www.moneysmart.gov.au/glossary/f/fully-franked-dividend [Accessed 13 Jan. 2015]. Palekar, A. (2015). What is Prospectus? Define it and describe its main contents? | Business Studies | Knowledge Hub. [Online] Publishyourarticles.net. Available at: https://www.publishyourarticles.net/knowledge-hub/business-studies/what-is-prospectus-define-it-and-describe-its-main-contents.html [Accessed 13 Jan. 2015]. The Australian, (2015). Medibank says float price is fair. [Online] Available at: https://www.theaustralian.com.au/news/latest-news/medibank-private-sale-to-fetch-55b/story-fn3dxity-1227095850961 [Accessed 13 Jan. 2015]. Threetypes.com, (2015). Philosophy. [Online] Available at: https://www.threetypes.com/philosophy/ [Accessed 13 Jan. 2015]. www.medibank.com.au, (2015). Prospectus. [Online] Available at: https://www.medibank.com.au/content/dam/medibank/About-Us/pdfs/privatisation/Medibank-Private-Prospectus.pdf [Accessed 13 Jan. 2015].
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