Nurse’s Professional Image Free Essays

Over the years, the nursing profession has faced an image overhaul that concretely defined her role in the society. The nurse uniforms which exude the most identifiable mark of the profession in the health sector and the society have also faced alterations that greatly affect the public’s perception of nurses. In an exhibit at the Philadelphia’s Fabric Workshop, many conclude that nurses are no longer identifiable with the profession. We will write a custom essay sample on Nurse’s Professional Image or any similar topic only for you Order Now The contemporary transitions that constantly evolved to define her busy role has brought forth an identity crisis that even patients, family members, other health professionals and workers have difficulty labeling her role in the health care setting. This transition was highly observed in the last two decades as nurses have found the ease in wearing casual and sometime colorful uniform attire (Harrion, 2001:41)(Houweling, 2004:42). The identity of the white uniform became lost as nurses prefer the comfort and ease of the scrub uniforms (Houweling, 2004:40). In the past decades, the nurse in a white uniform communicated a professional confidence brought about by the competency of her job and training. The nurse’s cap was also the known distinguishing mark that respectable nurses wore based on Florence Nightingale’s 1874 model(Dodd,2005:7).To look back, the earliest uniforms focused more on functionality and feminine virtue and were more or less associated with the religious orders and military nursing groups (Ellis and Harley, 2004: 185). The propriety of wearing a cap also followed uniformity as a respectable way for women to earn and be distinguished at the institution. The early uniforms were long, starched long sleeves with detachable collars and cuff that included a cape that could be worn during the winter months (Houweling, 2004:41). By the end of the 19th century, the functional white dress was adapted that catered to the evolution of pantsuits in the 60’s. The traditional nurse uniform has existed in many variants from the dress, apron and cap yet the basic style has remained recognizable in many years (Hallam, 41). In the late 60’s, psychiatric nurses pushed against the white uniform in their setting and were finally allowed to wear street clothes in the 1970’s. In the 1980’s, many hospitals no longer required nurses to wear the nursing cap given their expanded nursing roles (Ellis, Hartley Love: 184). Harrion explained that the cap discourages the men from entering the profession and the cap is identified with a â€Å"handmaiden† mark attached to it which is contradicted as male nurses were unlikely forced to wear the nurses’ cap, this status was reserved for the female nurses. Another insistence is that the cap was quite hard to keep clean which is again contradicted merely by the fact that starched caps can be dry cleaned. Even the nursing pin which was a significant mark and a â€Å"coat of arms† of the nursing profession has lost its appeal. Contemporary nurses are now reduced to wearing comfortable scrubs that were once limited to the specialty areas such as the CCU, ICU and ER where practicality is an issue. In Japan, nurses were once kimono clad and appeared like the under-maid types to keep their tradition alive (Takahashi, 2004: 4). Stimulated by the women’s position in the western society, the western concept of the profession gained popular adherence as the white uniform was adapted for all Japanese nurses in the health service (Takahashi:5). This process faced grandstanding as Japanese doctors trained Europe pushed for the adoption of the white uniform among the Japanese nurses in an effort to positively uplift and identify the professional nurse. After many years of retaining their traditional garb, Japan soon realized that issues of hygiene and practicality were at stake. Further they were able to realize and understand that the nursing uniform embodies probity and purity that is needed to overhaul the image of the female workers in Japan. Today, the nursing profession is again facing major upheavals that de-emphasize the purity of the standard white uniform in favor of the comfortable scrubs. This is a dilemma that nurses face in a work setting where many other caregivers wear the same garb. Patients and other health workers have trouble identifying the nurse from the rest of the ordinary caregivers. The public image of the nursing profession is suffering as the effort to communicate the value of the profession is diminishing. Mangum, Garrison, Lind, Thackeray and Wyatt once recommend that nurses wear clothing that clearly distinguish them as professional nurses (Ellis, Hartley Love, 2004: 184). Others believed that the white standard uniform exudes power and authority compared to the rumpled and disordered appearance of the colored scrubs. Despite the many images equated with the profession and the media’s continued assault on the appearance of nurses there is an immediate need to revamp the current attire. White according to most nurses denotes sanitation and cleanliness; they could be tailored and modified to enhance the figure using a fine material with insignias that could denote rank and position would give power and authority over the other ordinary caregivers in the health institution. Given the physical exertion of the profession, the cap might pose to be too unrealistic. This could prove to be more amenable rather than seeing professional nurses around the hospital garbed in attire that are commonly worn by the orderlies. This is an image problem and physicians would probably like to see nurses in uniforms of power rather than in rumpled an colored attires dressed like ordinary orderlies. The uniform is what makes nurses look good and present a professional appearance. When one wears costumes that convey their attributes, virtues and training, the patient sees the nurse as someone he can trust along with his physician. Wearing a well-tailored uniform and displaying the nursing pin helps nurses from being belittled by patients and their families. Nurses give up their power and authority as a profession when not dressed uniformly and loose their self-esteem when viewed ordinarily (Masters, 2005:130). The uniform identifies the specific and unique place that professional nurses have in the health care system (Masters, 2005:112). Thus, if nurses wish for doctors to treat them as colleagues in healthcare, society to acknowledge them as authorities, and to be paid as the profession deserves, the professional image should be insisted. Therefore if one wishes to be treated as a â€Å"ministering angel† (Hallam: 133); or as a professional and as a privileged individual, the professional appearance must portray a positive public image (Dodd, 2005: 6). Works Cited Hallam, Julia. Nursing the Image:   Media, Image and Professional Identity. Routledge. Masters, Kathleen. (2005). Role Development in Professional Nursing Practice. Jones and Bartlett Publishers. Ellis, Janice Rider and Hartley, Love, Celia. (2004). Nursing in today’s World: Challenges, Issues and Trends. Lippincott Williams and Wilkins. Takahashi, Aya. (2004). The Development of the Japanese Nursing Profession: Adopting and Adapting Western Influences. Routledge. Harrion, Lois. (20010. Professional Practical/Vocational Nursing. Thomson Delmar Learning. Houweling, Lynn. (2004, April). Image, Function, and Style: A history of the nursing uniform.   American Journal of Nursing, 104, 4. p. 40 – 48 Dodd, Elizabeth, Bates, C., Rousseau, N. (eds). (2005). On All Frontiers: Four Centuries of Canadian Nursing. Ottawa: University of Ottawa.    How to cite Nurse’s Professional Image, Essay examples

Raise The Red Lantern Essay Example For Students

Raise The Red Lantern Essay Anthropology of WomenRaise the Red Lanternâ€Å"All the world’s a stage; all of us are taking the elements of plot, character, and costume and turning into performances of possibilities†(Ward1999: 5) Raise the Red Lantern tells a compelling and sorrowful story of a young women whose life is destined to be ruined in a male-dominated society. This can be an awakening of some sort to any woman. As Ward states in her text, women learn the rules of our half of the world as well as those of the other half, since we regularly move in and out of the male world. There she defines women’s culture. The term has also been used in its anthropological sense to encompass the familial and friendship networks of women, their affective ties, their rituals. It is important to understand that woman’s culture is never a subculture. It would hardly be appropriate to define the culture of half of humanity as a subculture. Women live social existence within the general culture. W henever they are confined by patriarchal restraint or segregation into separateness, they transform this restraint into complementarily and redefine it. Thus, women live a duality- as members of the general culture and as partakers of woman’s culture. (Lerner 1986:242)Much like the quote stated, Raise the Red Lantern is set in Northern China in the 1920’s. For thousands of years the people of China have formed family life around patrilineal decent. The assessment of traditional China life was patriarchal. A basis of this set up would be from Confucius. In childhood, Before marriage, Obey your fatherIn adulthood, During marriage, Obey your husbandIn widowhood, After marriage, Obey your sonStates in the text, the lowest moment of a woman’s life was her wedding day. Cut off from her natal family, the young bride was an outsider and the object of deep suspicion in her new husband’s household. The only was to earn a place for herself was to have sons. Songlian quits college after her father has passed away and becomes Zuoquian Chen’s fourth wife. When Songlian, who chooses to walk from her house to Chen’s house instead of riding in the wedding carriage, arrives at Chen’s house, there is no sign of a celebration, an omen of things to come. Bound by tradition and inflamed with jealousy, none of the three wives come out to greet the new bride. An old housekeeper welcomes and acknowledges the arrival of Songlian, and he guides her to her new room through the house’s elaborate structure. To her surprise, in a long walk from the front door to her room, she doesn’t see a single person. The lack of human presence couples with the absence of a wedding reception to create an impersonal atmosphere that prevails throughout the film. Songlian must as Ward mentions in her book, â€Å"swallow such customs as breaking and binding little girl’s feet.† Every evening, a red lantern is lit in front of the courtyard of the wife Chen chooses to sleep with. Contrary to it’s traditional symbolism red is anything but festive. There is no love among the wives only hatred. The relationships between Chen and his wives are purely sexual. Rather than helping each other out and raising their status within the family, the wives are constantly fighting among themselves to win favors from Chen. The wives who live in separate houses must compete for the affections and privileges of the master in accordance with his customs. Jealousy abounds between the wives and the scheming keeps the tensions high. Each night a lantern is lit in favor of whom the master will be with. Shortly afterwards all the lanterns of the wife’s home and courtyard are also lit and the privileges begin. In all human cultures most women marry and bear children regardless of what women personally want to do. Ward states, â€Å"We live our lives against a backdrop of the social structures, rules and expectations from a particular point in history and with in those cultural framework. Through the four wives they portray types of work. The number one way a woman can become powerful through work is reproduction. Having and raising children as well as care for others, is a way to develop a mask of some sort that can imply power. Another type of work would be work as status enhancement. These activities promote prestige and social worth. To further explain the text states, conspicuous consumption, effective consumerism and social climbing are still work and are often highly valued. A final type of work could be work as moral, caring, repairing and integration. Women often create community, build bonds that hold groups of people together, and provide crucial services to others in time of tr ouble. This is very much displayed throughout Raise the Red Lantern. They also had body-work. Their concerns were in areas of sexuality and reproduction, that which would bring status. Everywhere in the world women’s bodies are controlled, but in a community of women restricted by customs of a master, what better tactic then use your body. Drug Abusing Fathers EssayIn the text Ward had quoted, I have taken a female perspective; treating women as political actors who employs strategies to achieve ends. Women’s strategies are directly related to the structure of power and authority in the domestic group and to a woman’s position with relation to the developmental cycle†¦Women quarrel with or dominate other women when it is n their interest to do so; they share and exchange with other women when it suits their own goals. Cooperation and conflict among women in family or in-groups cannot be understood without references to domestic power structure, to women’s place within it, and to the factors that shape the relationship between the family and the larger society. (Lamphere1972: 111)Within days of her arrival, Songlian’s relationships with her â€Å"sisters† are established. The first wife an aging woman with a grown son, does her best to ignore Songlian’s presence. The thir d concubine, beautiful ex-opera singer, is fiercely jealous of Songlian, worried that the master will find his new wife enticing. On Songlian’s wedding night, Meishan, the third wife, pretends to be sick and calls Chen away for the night. And whenever Chen spends the night with Songlian, Meishan wakes them up by singing opera on the roof early in the morning. Although Meishan outwardly displays her dislike, she does not plot against her. On the other hand, second wife Zhuoyun displays her affection for Songlian, but secretly plots to destroy her. According to Meishan, Zhuoyun has a Buddha’s face and a scorpion’ heart. Songlian struggles to be as cold and calculating as her â€Å"sisters† in playing the game until tragedy destroys her composure. Raise the Red Lantern establishes a view of life within a closed, dictatorial social community. Much as the film was, as it was structured, this film could be a parable of some sort. Songlian would be the individual, the woman. The master would be the government and the customs of the house are the laws of the country. It is an archaic system that always rewards those that play and pay but destroys those who violate. One thing I found appealing about Red Lantern is that while the film portrays a brutally patriarchal system in which women are clearly very oppressed and dependent on their lord and master for everything, it does not idealize the women or turn them into doe-eyed, sweet, saintly victims. The wives and concubines are resourceful, smart, competitive, and very determined to make the best of their situation in any way they can. They can even be cruel and downright evil. Forget the cliche that men are interested in power and women are interested in love. These women are definitely interested in power and status though, of course, the only way they can obtain it is by winning the husbands favor. Yet their power struggles are just as ruthless as anything that happens in the male world of politics, business, or war, and just as fascinating to watch. Anthropology

Red Badge Of Courage Essays (450 words) - Emotions,

Red Badge Of Courage The Red Badge of Courage begins with the Youth (Henry) preparing to leave to war. He has fabulous ideas concocted in his mind about victory and heroism. The Youth soon finds that victory and heroism are a small part in the splendor of war. The Youth's mind soon becomes burdened with thoughts of death and running away from battle. Sure enough, in the midst of battle, the Youth flees the battlefield. The Youth must learn to deal with the shame he feels on deserting his comrades. When he returns to his camp he lies and says that he was separated during combat and was shot. The Youth is given another chance to fight and prove he is not a coward. As the book progresses, the Youth learns to deal with his shame by feeling honored for being a hero. In the end, the Youth becomes a man. He learns that the most important lessons in life can be seen by opening his eyes. I personally was attracted to the Youth. All his thoughts and wild imagination impressed me. He would describe death as a being that could swallow him whole, and ramble on about wonderful sunsets. The Youth was also a very troubled soul. He worried a lot over things he might do and not the things he would do. For instance, on page 34, he questions others in hope that their answers would comfort him. He feels disassociated from others, "The Youth, considering himself separated from the others..." (p29). Page 35 quotes, "He was a mental outcast." He lacked self confidence and "continually tried to measure himself by his comrades." (p22). Despite his sorrow, the Youth was creative and compared ideas and objects to other ideas and objects. "The battle was like the grinding of an immense and terrible machine." I believe that the Youth brought the book to life through his life. At times I would find myself thinking, "I've thought that too!" For example on page 127, the Youth announces that his life should be lived to his expectations and not everyone else's. I strongly agree with him on that idea. When the Youth was involved in hard situations, I pondered on what I would do and what decisions I would make. To illustrate, on page 80, when the youth ran, I decided I would have stayed and fought for my dignity if nothing else. At the end of the book, Henry learns how important life truly is and why. He learned that war deals with death shame, and sorrow, not just victory and freedom. On page 266, Henry becomes a man. "He had been to touch the great death, and found, after all, it was but the great death." Henry looked death in the eyes and fulfilled his dream of becoming a hero. He had earned the Red Badge of Courage.

Doc Holliday Biography

Doc Holliday Biography Doc Holliday (born John Henry Holliday, August 14, 1851- November 8, 1887) was  an American  gunfighter, gambler, and dentist.  A  friend of fellow gunslinger  and  lawman  Wyatt Earp, Holliday became an iconic  character  of the  American Wild West  through  his role in the  gunfight at the O.K.  Corral.  Despite his reputation for  having gunned down  Ã¢â‚¬Å"dozens† of men, more recent research suggests Holliday killed no more than two men.  Over the years, Holliday’s character and  life have been depicted in many movies and television series. Fast Facts: Doc Holliday Full Name:  John Henry (Doc) Holliday  Known For:  Old West American gambler, gunfighter, and dentist. Friend of Wyatt Earp  Born:  August 14, 1851, in Griffin, GeorgiaDied:  November 8, 1887, in  Glenwood Springs, ColoradoParents:  Henry Holliday and Alice Jane (McKey) HollidayEducation:  Pennsylvania College of Dental Surgery, D.D.S. Degree, 1872  Key Accomplishments:  Fought beside Wyatt Earp against the Clanton Gang in the Gunfight at the OK Corral. Accompanied Wyatt Earp on his Vendetta Ride  Spouse:  Big Nose Kate  Horony  (common-law)  Famous Quote:  Ã¢â‚¬Å"All I want of you is ten paces out in the street.† (to gunfighter Johnny Ringo).   Early Life and Education     Doc Holliday was born on August 14, 1851, in Griffin, Georgia, to Henry Holliday and Alice Jane (McKey) Holliday. A veteran of both the  Mexican–American War  and the  Civil War, Henry Holliday taught his son  to shoot.  In 1864, the family moved to Valdosta, Georgia, where Doc attended first through tenth grade at the private Valdosta Institute.  Considered an outstanding student, Holliday excelled at  rhetoric, grammar, mathematics, history,  and Latin.   Doc Holliday. John van Hasselt / Getty Images In 1870, the 19-year-old Holliday moved to Philadelphia,  where he received a Doctor of Dental Surgery degree from the Pennsylvania College of Dental Surgery on March 1, 1872.   Holliday Heads  West   In July 1872,  Holliday joined a  dental practice in Atlanta,  but was soon diagnosed with tuberculosis. Hoping the drier climate would help  his condition, he moved to Dallas, Texas, eventually opening his own dental practice. As his  coughing spells increased and his dental patients abandoned him, Holliday turned to gambling to support himself. After having been arrested twice for illegal gambling  and being acquitted of murder, he left Texas in January 1875. Gambling his  way west through states and cities where betting was treated as a legal profession, Holliday settled  in  Dodge City, Kansas, in the spring of 1878. It was in Dodge City  that Holliday befriended assistant city marshal Wyatt Earp.  Though there were no reports of the incident in the  Dodge City newspapers, Earp credited Holliday for saving his life during a shootout with outlaws at the  Long Branch Saloon.   The Gunfight at the O.K. Corral   In  September  1880, Holliday  rejoined  his friend Wyatt Earp  in the wild and booming silver mining camp town of Tombstone,  Arizona  Territory.  Then a  Wells Fargo  stagecoach  security agent, Wyatt joined  his brothers, Deputy U.S. Marshal Virgil Earp, and Morgan  Earp as Tombstone’s â€Å"police force.†Ã‚  In Tombstone’s gambling  and liquor-fueled atmosphere, Holliday soon became involved in the violence that would result in the  Gunfight at  the O.K. Corral.   Opposing the  Earps  for control of Tombstone  was the infamous  Clanton Gang, a  group of  local  cowboys  led by  the notorious cattle rustlers  and murderers  Ike Clanton and Tom  McLaury. On  October 25, 1881,  Ike  Clanton and  Tom  McLaury  came to town for supplies. Over the  course of the  day, they had several  violent  confrontations with the Earp brothers. On the morning of October 26,  Ike’s brother Billy Clanton  and Tom’s brother Frank  McLaury, along with gunfighter Billy Claiborne,  rode to town to provide backup for Ike and Tom. When Frank  McLaury  and Billy  Clanton learned that the  Earps  had  just  pistol-whipped their brothers, they  vowed revenge. At  3 p.m. on October 26, 1881, the  Earps  and  the hastily-deputized  Holliday faced the Clanton-McLaury  gang behind the OK Corral. In the 30-seconds of gunfire that ensued, Billy Clanton and both  McLaury  brothers were killed.  Doc Holliday, and Virgil and Morgan Earp were wounded. While he was present at the gunfight, Ike Clanton was unarmed and fled the scene. Though a territorial court found that the  Earps  and Holliday had  acted within their duties as lawmen at the O.K. Corral, Ike Clanton was not satisfied. In the following  weeks, Morgan Earp was killed and Virgil Earp was permanently maimed by a group of unknown cowboys.  In what has become known as the  Earp Vendetta Ride, Holliday joined Wyatt Earp as part of a federal posse that pursued the suspected outlaws  for over a year, killing four of them.   Later Life  and Death  in  Colorado   Holliday moved to Pueblo, Colorado, in  April 1882.  In May, he was arrested  for the murder of Frank Stilwell, one of the cowboys he had chased down while riding with Wyatt Earp’s federal posse. When Earp learned of the arrest, he arranged  to have the request to extradite Holliday  to Arizona  denied.  Ã‚   In the winter of 1886,  Holliday met his old friend Wyatt Earp for a final time in the lobby of the Windsor Hotel in Denver. Earp’s common-law wife Sadie Marcus later described  Holliday as a constantly-coughing skeleton standing on â€Å"unsteady legs.†Ã‚  Ã‚   Holliday spent the last year of his life in Colorado, dying of tuberculosis in his bed at the Glenwood Springs Hotel on November 8, 1887, at age 36.  He  is  buried in Linwood Cemetery overlooking Glenwood Springs, Colorado.   Legacy   One of the best-recognized characters of the American Old West, Doc Holliday is remembered for his friendship with Wyatt Earp.  In an 1896 article, Wyatt Earp said  of Holliday:   â€Å"I found him a loyal friend and good company. He was a dentist whom necessity had made a gambler; a gentleman whom disease had made a vagabond; a philosopher whom life had made a caustic wit; a long, lean blonde fellow nearly dead with consumption and at the same time the most skillful gambler and nerviest, speediest, deadliest man with a six-gun I ever knew.†Ã‚   Sources and  Further Reference Roberts, Gary L. (2006).  Doc Holliday: The Life and Legend.  John Wiley and Sons, Inc. ISBN 0-471-26291-9  Doc Holliday- Deadly Doctor of the American West. Legends of America.  Ã‚  OK Corral. History.net  Urban, William L. (2003).  Ã¢â‚¬Å"Tombstone. Wyatt Earp: The Ok Corral and the Law of the American West.† The Rosen Publishing Group. p. 75. ISBN 978-0-8239-5740-8.

Ba Finance

By 1985 Arthur had already sold his dairy herd to focus on cereal production when a fortuitous meeting with Lucy Bellingham at a business conference led him to reconsider the future of the family farm. Bellingham is a designer of bespoke fitted kitchens who had a business plan but little capital. The plan was to manufacture top quality fitted kitchen furniture and establish design studios/showrooms in high income areas. Having recently sold his dairy herd, Arthur had enough capital to fund the new business and also a number of large barns and outbuildings suitable for manufacturing the kitchen units subject to refitting and planning consent being obtained. Lucy’s business plan was so convincing that Arthur decided to get out of farming altogether (by leasing his arable land to a local co-operative) and focus on developing the new business. From this small beginning grew the now publicly quoted company of Bellingham plc. Initially, showrooms were established in Beaconsfield and then Kensington. Demand for their kitchens was brisk and â€Å"Bellingham Bespoke Kitchens† expanded rapidly but remained a partnership. The firms clients are mainly celebrities from the entertainment world and the cost of a Bellingham Bespoke Kitchen is now ? 40,000 – ? 150,000 or more. The firm was restructured as a limited company in 1990 and subsequently experienced rapid growth until 1999. In that year the then directors decided that the business had reached the limit of development in it’s present form. Future development required large-scale expansion of production facilities in order to provide the range of materials, furniture, quality and prompt delivery required by their discerning clients. This in turn needed an injection of capital that the directors were unable to generate themselves. The conviction that there was much money to be made from â€Å"quality fitted kitchens† † had been vindicated. They investigated a number of possibilities deciding eventually to expand production facilities by purchasing a modern production unit on an industrial estate in Aylesbury. The expansion was funded by a stock market floatation and raising the necessary capital in the name of Bellingham plc. As the market grew and to keep abreast of new production technology, the directors agreed to reverse the maxim so dear to the heart of the founders, Arthur and Lucy; â€Å"neither a (long-term) borrower nor lender be. † They financed updating of equipment and premises by means of issuing debentures. It is now October 2012 and the present directors of Bellingham plc believe that the long-term success of the company lies in future international diversification and expansion. They consider that the most beneficial action they could take is to investigate the acquisition of a subsidiary in the USA. The newly-appointed finance director, Bill Moneypenny, agrees with this opinion but insists that the company must first appraise its own current position and if necessary, make changes to strengthen its existing financial situation before embarking on new plans. He is particularly concerned that the company should preserve adequate liquidity and finance its assets in a beneficial manner. He is also concerned that too much emphasis has been placed on â€Å"pandering to the whims of the rich and famous† and not enough on running an efficient business operation. Lucy and Arthur still retain 30% of Bellingham’s equity and other long-standing directors own a further 20%; a change of control is unlikely to be welcome. During the last two years, the company has updated it’s design, production and showroom assets and, in what has been a difficult year, has been able to maintain sales and profit growth (see Bellingham’s accounts in appendix 1). There has been a great deal of uncertainty about world economic growth and stock markets have been extremely volatile resulting low returns. However the firm’s ordinary shares have made good progress during the year. Ordinary share dividends have achieved substantial growth over the last two years although this rate of increase is not expected to continue. Ordinary dividends have grown at an average rate of 14% per annum over the past 10 years and this rate is a more realistic growth rate for future dividends. The present market prices for Bellingham’s shares and debentures are: ?1 Ordinary shares? 7. 02 ex div ?0. 50p, 6% Pref shares? . 55 ex div 7% Debentures 2016? 100. 51 ex interest Any new venture would be expected to achieve a return on capital employed in line with that experienced recently by Bellingham plc. The finance director favours a payback period of 5 years. Bellingham would therefore need to agree a realistic acquisition price for such a new venture and its future cash flows in order to determine whether these criteria could be met. Although a number of investment projects are being considered, the main proposal currently being investigated offers an expansion into the US prime-property market which is forecast to grow faster than the UK market. Bellingham’s finance director has already calculated the trends in the financial ratios of American Creations, an unquoted US company, from its unaudited annual accounts (see appendix 2) and has concluded that the proposal is now worthy of further investigation. American Creations is a family-owned venture requiring further capital to repair it’s balance sheet after making losses on a property development in Nevada from which it has now withdrawn. Profits have suffered in the last two years due to write-offs associated with this development. The existing owners feel that the firm’s future lies in establishing wider international links and the retirement of senior family members, leaving the younger members active in the management of the firm. They are therefore considering selling a controlling interest of 60% to a suitable company. The firm has been established for 23 years, and is well respected in business circles. The average age of its fixed tangible assets is 3 years. The directors have indicated that they may accept part payment in Bellingham shares subject to negotiation. The firm’s nominal share capital is $2. m, and the directors have indicated that they value the firm at five times the year 2010 net profit. They consider this to be the firm’s â€Å"normal† level of profit excluding the â€Å"extraordinary† effects of the Nevada development. As the firm is at present family owned and run, there is no available price/earnings ratio. P/E ratios for the only two publicly-owned c ompanies in the same business sector, Harvey Wilkinson Designs plc and Cucci Lifestyle plc, are currently 10 and 8 times respectively although both of these firms, unlike Bellingham, operate internationally. Wilkinson has grown at a similar rate to Bellingham. The dividend yields of these companies have been as follows: WilkinsonCucci Year to 31 December 2011 8. 1% 7. 25% 2010 7. 2% 6. 9% 2009 5. 3% 5. 95% American Creations has its own manufacturing facilities and operates throughout the USA and Caribbean with design offices in New York, Miami, Los Angeles and Colorado Springs. Their main business, which is thriving, involves complete home furnishing and interior design for wealthy clients. In addition, the firm has a real estate office in each location and is thus able to offer a complete property service. The value of properties handled by the real estate offices is typically $5m – $20m. Bellingham is interested not only in extending its operations internationally but particularly in the possibility of diversifying into the real estate business. Whilst well aware of the existence of a number of competitors, the directors feel that there is a ready market in the US for their established name in terms of design flair, service and products. After discussions with the directors of American Creations, Bill Moneypenny has produced the following forecast. Under average economic growth conditions, the American Creations operating forecasts (in $*1000) for the next five years are based on the following: Income:from Sales: $7500 in 2013, rising by 12% per annum for the foreseeable future. from real estate sales commissions: $2850 in 2013 increasing by 15% per annum for the foreseeable future. Manufacturing variable costs: Labour: $1250 in 2013, expected to increasing by 8% per annum. Materials: $3800 in 2013, expected to increasing by 5% per annum. Fixed costs excluding depreciation: Manufacturing O/H: $2065 in 2013, increasing by 5% per annum. General O/H: $1850 in 2013, increasing by 2% per annum. Depreciation:Factory, machinery vehicles: $500 per year. Office/Design Studio fixtures: $200 per year. The beta of Bellingham plc is believed to be 1. 65 , the risk-free rate of return is 5. 5% and the return for the last year on the FT All-share index is 2%. UK corporation tax is currently 32% payable 9 months after the end of the accounting year in question (you may assume for the purpose of this case that accounting profit and taxable profit are identical. ) Bellingham’s directors estimate that the after-tax profits of American Creations could be allocated as follows: 70% as retained earnings and 30% as dividends. This has been the pattern under the under the present ownership. There would be no restriction on the transfer of the appropriate share of these dividends to the UK. The US corporation tax rate applicable is 20% payable in the year in which the profit arises. There is no double taxation of profits of US origin in the UK. (For the purpose of this case, ignore the possibility of any withholding taxes and the effects of foreign exchange risk. It is considered possible that, as the US economy develops further, even higher wages than those forecast may be demanded by the workforce. Required: Evaluate the American Creations proposal on behalf of Bellingham plc, supporting your arguments with relevant theory and calculations and indicating any non-financial matters you feel should be taken into consideration. Your report should consider the following areas: 1. An analysis of Bellingham’s current position using relevant financial ratios. You should show the calculation of the ratios and provide interpretation of the results. . Calculation of Bellingham’s cost of capital, using alternative methods and arriving at the most appropriate figure. 3. An investment appraisal of the American Creations proposal assuming the valuation suggested in the case, using a variety of methods and evaluation of the results. 4. A sensitivity analysis of the proposal and interpretation of the results. 5. Calculation and discussion of alternative valuations for acquiring the share in American Creations and how these would impact on the investment appraisal. 6. A discussion of the various available methods of financing the acquisition and consideration of which is the most appropriate. Your calculations and arguments should be supported by relevant theory, with evidence of wide reading around the subject. You should provide a complete bibliography with appropriate referencing in your report. Submission requirements: Your answer should take the form of a written report of approximately 2500 words excluding appendices and the reference list. Deviations from the word count exceeding plus or minus 10% will attract a penalty of 5%. The hand-in deadline for submission is 23. 0 on 25th November 2012. Submissions up to 24 hours late will attract a 10% penalty whilst those beyond 24 hours but less than 1 week late will be capped at 40%. Reports submitted more than one week late will attract a mark of zero. Submit one electronic copy via Studynet. This is an individual assignment and the report submitted should be entirely your own work. Appendix 1:B ellingham plc| | | | | | | Abridged Trading, Profit Loss Account for the year ended 30th June 2012:| All amounts are in thousands of pounds sterling| | | | | | | | | | | | | | | | | | | 2012| | 2011| | 2010| | Sales| 9606| | 7564| | 6100| | Production Cost| 4034| | 3101| | 2240| | Gross Profit| 5572| | 4463| | 3860| | | | | | | | | Selling Expenses| 1467| | 1250| | 1080| | Installation Expenses| 1689| | 1300| | 980| | Administration Expenses| 960| | 630| | 597| | Operating Profit| 1456| | 1283| | 1203| | Debenture Interest| 53| | 53| | 53| | Profit Before Tax| 1403| | 1230| | 1150| | Corporation Tax| 449| | 394| | 368| | Profit After Tax| 954| | 836| | 782| | Dividends| 341| | 280| | 220| | Retained earnings| 613| | 556| | 562| | Balance Sheet at 30th June 2012:| | | | | | | | | | | | | Fixed Assets (net):| | | | | | | Land Buildings| 2300| | 2400| | 2500| | Plant Machinery| 1700| | 1186| | 552| | Fixtures Fittings| 700| | 600| | 402| | Motor Vehicles| 185| | 140| | 105| | Office equiptment| 250| | 185| | 100| | | 5135| | 4511| | 3659| | Current Assets:| | | | | | | Stocks: Raw Materials| 216| | 208| | 182| | Work in Progress| 200| | 205| | 190| | Finished Goods| 150| | 128| | 97| | Debtors| 1775| | 950| | 595| | Bank/Cash| 230| | 136| | 104| | | 2571| | 1627| | 1168| | Current Liabilities:| | | | | | | Trade Creditors| 1190| | 788| | 270| | Corporation Tax| 449| | 394| | 368| | Final Dividend| 171| | 140| | 110| | | 1810| | 1322| | 748| | | | | | | | | Net Current Assets| 761| | 305| | 420| | Net Assets| 5896| | 4816| | 4079| | | | | | | | | Long-term Liabilities:| | | | | | | 9% Debentures 2016| 750| | 750| | 750| | | | | | | | | | 5146| | 4066| | 3329| | | | | | | | | Shares reserves| | | | | | | ?1 ordinary shares| 1000| | 1000| | 1000| | 6% Preference shares of 50p ea,| 500| | 500| | 500| | Retained pr for yr| 613| | 556| | 562| | Profit loss| 3033| | 2010| | 1267| | Shareholders funds| 5146| | 4066| | 3329| | Ba Finance By 1985 Arthur had already sold his dairy herd to focus on cereal production when a fortuitous meeting with Lucy Bellingham at a business conference led him to reconsider the future of the family farm. Bellingham is a designer of bespoke fitted kitchens who had a business plan but little capital. The plan was to manufacture top quality fitted kitchen furniture and establish design studios/showrooms in high income areas. Having recently sold his dairy herd, Arthur had enough capital to fund the new business and also a number of large barns and outbuildings suitable for manufacturing the kitchen units subject to refitting and planning consent being obtained. Lucy’s business plan was so convincing that Arthur decided to get out of farming altogether (by leasing his arable land to a local co-operative) and focus on developing the new business. From this small beginning grew the now publicly quoted company of Bellingham plc. Initially, showrooms were established in Beaconsfield and then Kensington. Demand for their kitchens was brisk and â€Å"Bellingham Bespoke Kitchens† expanded rapidly but remained a partnership. The firms clients are mainly celebrities from the entertainment world and the cost of a Bellingham Bespoke Kitchen is now ? 40,000 – ? 150,000 or more. The firm was restructured as a limited company in 1990 and subsequently experienced rapid growth until 1999. In that year the then directors decided that the business had reached the limit of development in it’s present form. Future development required large-scale expansion of production facilities in order to provide the range of materials, furniture, quality and prompt delivery required by their discerning clients. This in turn needed an injection of capital that the directors were unable to generate themselves. The conviction that there was much money to be made from â€Å"quality fitted kitchens† † had been vindicated. They investigated a number of possibilities deciding eventually to expand production facilities by purchasing a modern production unit on an industrial estate in Aylesbury. The expansion was funded by a stock market floatation and raising the necessary capital in the name of Bellingham plc. As the market grew and to keep abreast of new production technology, the directors agreed to reverse the maxim so dear to the heart of the founders, Arthur and Lucy; â€Å"neither a (long-term) borrower nor lender be. † They financed updating of equipment and premises by means of issuing debentures. It is now October 2012 and the present directors of Bellingham plc believe that the long-term success of the company lies in future international diversification and expansion. They consider that the most beneficial action they could take is to investigate the acquisition of a subsidiary in the USA. The newly-appointed finance director, Bill Moneypenny, agrees with this opinion but insists that the company must first appraise its own current position and if necessary, make changes to strengthen its existing financial situation before embarking on new plans. He is particularly concerned that the company should preserve adequate liquidity and finance its assets in a beneficial manner. He is also concerned that too much emphasis has been placed on â€Å"pandering to the whims of the rich and famous† and not enough on running an efficient business operation. Lucy and Arthur still retain 30% of Bellingham’s equity and other long-standing directors own a further 20%; a change of control is unlikely to be welcome. During the last two years, the company has updated it’s design, production and showroom assets and, in what has been a difficult year, has been able to maintain sales and profit growth (see Bellingham’s accounts in appendix 1). There has been a great deal of uncertainty about world economic growth and stock markets have been extremely volatile resulting low returns. However the firm’s ordinary shares have made good progress during the year. Ordinary share dividends have achieved substantial growth over the last two years although this rate of increase is not expected to continue. Ordinary dividends have grown at an average rate of 14% per annum over the past 10 years and this rate is a more realistic growth rate for future dividends. The present market prices for Bellingham’s shares and debentures are: ?1 Ordinary shares? 7. 02 ex div ?0. 50p, 6% Pref shares? . 55 ex div 7% Debentures 2016? 100. 51 ex interest Any new venture would be expected to achieve a return on capital employed in line with that experienced recently by Bellingham plc. The finance director favours a payback period of 5 years. Bellingham would therefore need to agree a realistic acquisition price for such a new venture and its future cash flows in order to determine whether these criteria could be met. Although a number of investment projects are being considered, the main proposal currently being investigated offers an expansion into the US prime-property market which is forecast to grow faster than the UK market. Bellingham’s finance director has already calculated the trends in the financial ratios of American Creations, an unquoted US company, from its unaudited annual accounts (see appendix 2) and has concluded that the proposal is now worthy of further investigation. American Creations is a family-owned venture requiring further capital to repair it’s balance sheet after making losses on a property development in Nevada from which it has now withdrawn. Profits have suffered in the last two years due to write-offs associated with this development. The existing owners feel that the firm’s future lies in establishing wider international links and the retirement of senior family members, leaving the younger members active in the management of the firm. They are therefore considering selling a controlling interest of 60% to a suitable company. The firm has been established for 23 years, and is well respected in business circles. The average age of its fixed tangible assets is 3 years. The directors have indicated that they may accept part payment in Bellingham shares subject to negotiation. The firm’s nominal share capital is $2. m, and the directors have indicated that they value the firm at five times the year 2010 net profit. They consider this to be the firm’s â€Å"normal† level of profit excluding the â€Å"extraordinary† effects of the Nevada development. As the firm is at present family owned and run, there is no available price/earnings ratio. P/E ratios for the only two publicly-owned c ompanies in the same business sector, Harvey Wilkinson Designs plc and Cucci Lifestyle plc, are currently 10 and 8 times respectively although both of these firms, unlike Bellingham, operate internationally. Wilkinson has grown at a similar rate to Bellingham. The dividend yields of these companies have been as follows: WilkinsonCucci Year to 31 December 2011 8. 1% 7. 25% 2010 7. 2% 6. 9% 2009 5. 3% 5. 95% American Creations has its own manufacturing facilities and operates throughout the USA and Caribbean with design offices in New York, Miami, Los Angeles and Colorado Springs. Their main business, which is thriving, involves complete home furnishing and interior design for wealthy clients. In addition, the firm has a real estate office in each location and is thus able to offer a complete property service. The value of properties handled by the real estate offices is typically $5m – $20m. Bellingham is interested not only in extending its operations internationally but particularly in the possibility of diversifying into the real estate business. Whilst well aware of the existence of a number of competitors, the directors feel that there is a ready market in the US for their established name in terms of design flair, service and products. After discussions with the directors of American Creations, Bill Moneypenny has produced the following forecast. Under average economic growth conditions, the American Creations operating forecasts (in $*1000) for the next five years are based on the following: Income:from Sales: $7500 in 2013, rising by 12% per annum for the foreseeable future. from real estate sales commissions: $2850 in 2013 increasing by 15% per annum for the foreseeable future. Manufacturing variable costs: Labour: $1250 in 2013, expected to increasing by 8% per annum. Materials: $3800 in 2013, expected to increasing by 5% per annum. Fixed costs excluding depreciation: Manufacturing O/H: $2065 in 2013, increasing by 5% per annum. General O/H: $1850 in 2013, increasing by 2% per annum. Depreciation:Factory, machinery vehicles: $500 per year. Office/Design Studio fixtures: $200 per year. The beta of Bellingham plc is believed to be 1. 65 , the risk-free rate of return is 5. 5% and the return for the last year on the FT All-share index is 2%. UK corporation tax is currently 32% payable 9 months after the end of the accounting year in question (you may assume for the purpose of this case that accounting profit and taxable profit are identical. ) Bellingham’s directors estimate that the after-tax profits of American Creations could be allocated as follows: 70% as retained earnings and 30% as dividends. This has been the pattern under the under the present ownership. There would be no restriction on the transfer of the appropriate share of these dividends to the UK. The US corporation tax rate applicable is 20% payable in the year in which the profit arises. There is no double taxation of profits of US origin in the UK. (For the purpose of this case, ignore the possibility of any withholding taxes and the effects of foreign exchange risk. It is considered possible that, as the US economy develops further, even higher wages than those forecast may be demanded by the workforce. Required: Evaluate the American Creations proposal on behalf of Bellingham plc, supporting your arguments with relevant theory and calculations and indicating any non-financial matters you feel should be taken into consideration. Your report should consider the following areas: 1. An analysis of Bellingham’s current position using relevant financial ratios. You should show the calculation of the ratios and provide interpretation of the results. . Calculation of Bellingham’s cost of capital, using alternative methods and arriving at the most appropriate figure. 3. An investment appraisal of the American Creations proposal assuming the valuation suggested in the case, using a variety of methods and evaluation of the results. 4. A sensitivity analysis of the proposal and interpretation of the results. 5. Calculation and discussion of alternative valuations for acquiring the share in American Creations and how these would impact on the investment appraisal. 6. A discussion of the various available methods of financing the acquisition and consideration of which is the most appropriate. Your calculations and arguments should be supported by relevant theory, with evidence of wide reading around the subject. You should provide a complete bibliography with appropriate referencing in your report. Submission requirements: Your answer should take the form of a written report of approximately 2500 words excluding appendices and the reference list. Deviations from the word count exceeding plus or minus 10% will attract a penalty of 5%. The hand-in deadline for submission is 23. 0 on 25th November 2012. Submissions up to 24 hours late will attract a 10% penalty whilst those beyond 24 hours but less than 1 week late will be capped at 40%. Reports submitted more than one week late will attract a mark of zero. Submit one electronic copy via Studynet. This is an individual assignment and the report submitted should be entirely your own work. Appendix 1:B ellingham plc| | | | | | | Abridged Trading, Profit Loss Account for the year ended 30th June 2012:| All amounts are in thousands of pounds sterling| | | | | | | | | | | | | | | | | | | 2012| | 2011| | 2010| | Sales| 9606| | 7564| | 6100| | Production Cost| 4034| | 3101| | 2240| | Gross Profit| 5572| | 4463| | 3860| | | | | | | | | Selling Expenses| 1467| | 1250| | 1080| | Installation Expenses| 1689| | 1300| | 980| | Administration Expenses| 960| | 630| | 597| | Operating Profit| 1456| | 1283| | 1203| | Debenture Interest| 53| | 53| | 53| | Profit Before Tax| 1403| | 1230| | 1150| | Corporation Tax| 449| | 394| | 368| | Profit After Tax| 954| | 836| | 782| | Dividends| 341| | 280| | 220| | Retained earnings| 613| | 556| | 562| | Balance Sheet at 30th June 2012:| | | | | | | | | | | | | Fixed Assets (net):| | | | | | | Land Buildings| 2300| | 2400| | 2500| | Plant Machinery| 1700| | 1186| | 552| | Fixtures Fittings| 700| | 600| | 402| | Motor Vehicles| 185| | 140| | 105| | Office equiptment| 250| | 185| | 100| | | 5135| | 4511| | 3659| | Current Assets:| | | | | | | Stocks: Raw Materials| 216| | 208| | 182| | Work in Progress| 200| | 205| | 190| | Finished Goods| 150| | 128| | 97| | Debtors| 1775| | 950| | 595| | Bank/Cash| 230| | 136| | 104| | | 2571| | 1627| | 1168| | Current Liabilities:| | | | | | | Trade Creditors| 1190| | 788| | 270| | Corporation Tax| 449| | 394| | 368| | Final Dividend| 171| | 140| | 110| | | 1810| | 1322| | 748| | | | | | | | | Net Current Assets| 761| | 305| | 420| | Net Assets| 5896| | 4816| | 4079| | | | | | | | | Long-term Liabilities:| | | | | | | 9% Debentures 2016| 750| | 750| | 750| | | | | | | | | | 5146| | 4066| | 3329| | | | | | | | | Shares reserves| | | | | | | ?1 ordinary shares| 1000| | 1000| | 1000| | 6% Preference shares of 50p ea,| 500| | 500| | 500| | Retained pr for yr| 613| | 556| | 562| | Profit loss| 3033| | 2010| | 1267| | Shareholders funds| 5146| | 4066| | 3329| |

Case study Research Paper Example | Topics and Well Written Essays - 750 words - 4

Case study - Research Paper Example The attending physician decided to put her to sleep by administering sedative. Not wanting to give sedative for fears of developing addiction, the doctor advised Angel’s parents to consult a psychologist. During the talk with the psychologist, the couple narrated that their daughter only manifested this reaction once, a day after they came back from the hospital because Angel was confined when she sprained her left ankle due to a biking accident. The couple also reported that their daughter had previous episodes of being tachypnic upon the sight of injection and fainting shortly afterwards, even after the administration of shot. The couple thought these were because of Angel’s diabetes, and did not pay any attention to them. Because of Angel’s young age, the pain might be the major contributing and the primary factor for her trypanophobia (Deacon and Abramowitz, 2006). However, the fear of fainting might have exacerbated the condition, and may have made the fear of needles more life-threatening (Du et al., 2008). Because of this, it is the fear of pain that should be important to be addressed first. Angel might have been classically conditioned of experiencing pain with her every injection. The classical conditioning theory suggests that the fear of needles is actually a protective response against pain. In this scenario, the elicited response is fear. The unconditioned stimulus causing fear is when Angel feels pain, and the conditioned stimulus is the sight of syringes. Thus, after classical conditioning, Angel already associates pain with the syringes, and thus fears seeing syringes already (Scott, 2009). To reverse the fear brought about by classical conditioning, a classical extinction should be performed. In this method, the unconditioned stimulus, which is pain, should be unlinked to the sight of the syringes. This can be performed by vicarious learning approach, in which Angel will learn not to fear the syringe by looking at

A Final Recruitment Plan Coursework Example | Topics and Well Written Essays - 750 words

A Final Recruitment Plan - Coursework Example Companies either have their own human resource management department to handle the recruitment process or outsource recruitment agencies for conducting the recruitment activity on behalf of the company. It is a very important function for any organization, so the management has to always make sure that they recruit the best candidate for the vacant position. It is very important to select the right person for the job because the human resource is the most important resource for the company. This is why recruitment and selection process is complicated in nature and requires skillful planning (Clarke, 1996, p. 1-2). Recruitment is the process in which the potential talents are located and approached by the organization. The function of this process is to develop a pool of qualified and experience individual so that the section and decision-making strategies can be effectively implemented. It is the tool for placing the right person in the right place at the right time at a right price. Recruitment in organizations are no more organized or conducted in the traditional manner. It is delivered through a scientific approach, where the exercise is an opportunity to analyze the job and update the job description along with the specification of the individual. Recruitment Plan The perspective from which employment was viewed earlier has changed. It is no longer a life-long agreement between the employer and his employees. The employer cannot bind his / her employees. So it is very important to present a fresh view of the company and its policies in the recruitment advertisement, for attracting talented and qualified candidates. This is also known as marketing the job or floating the job in the market. In this study the job vacancy is for the position of the Accountant Technician in the department of Patient Accounting. It is very important to develop a recruitment plan before starting the process of recruitment. The plan would include: The objective for the recruitment The strategies of the company for recruitment to achieve the goal: The strategies of the companies differ The steps to be taken, the responsible person and the due date for the task. Documentation that would be needed during the various stages of the recruitment process. It is important for the human resource team to set goals before recruitment. In the Patient Accounting department the goal was to appoint a person for handling the accounting and administration functions. He/ she would answer to the mails, receive the phone calls and communicate with the clients along with entering the data and maintaining the financial records. This was the purpose behind creating a position in this department to hire a person. The success rate of the recruitment would be depending upon the effectiveness of the advertisement. So the language and the tone of the advertisement should be carefully developed and revised. The subject matter of the advertisement should be crisp and precise so that it inc ludes the main motive of advertisement that is very brief introduction of the company and what it deals with, the job profile vacant and its description, the contact details of the responsible person and the company and also the dates, time and venue details if the company is organizing a walk-in interview. The advertisement would also include the salary range for the available position, and other allowances if any. In the study the job vacancy is for an Accounting Technician and hence the job description would include the activities that an accounting technician would have to perform