Gustave Flaubert’s Madame Bovary Essay

Gustave Flaubert’s Madame Bovary is undoubtedly one of the most controversial works in its age due to the immoral nature of its protagonist, Emma Bovary. Emma passes with good reason for one of the most powerful portraits of a woman in fiction, the most living and truest to life where sentimental young woman whose foolishly romantic ideas on life and love, cause her to become dissatisfied with her humdrum husband and the circumstances of her married life. Her feeling of disillusionment led her first into two desperate hopeless love affairs, and then to an agonizing and ugly death from arsenic. Emma is first and foremost, a person of sensuous nature, and more a romantic. Her sensuality is combined with vulgar imagination and a considerable degree of naivete. She symbolizes the double illusion. First the illusion that things change for the better in time; then the same illusion of spatial terms, the closer things were something that should be turned away from. She accepts Charles, the healthy doctor, because he represents the outside world. She sees matrimony in terms of a candle-lit midnight wedding. But marriage itself utterly disappoints her. She begins to dream of a happiness that can exist in faraway places but to no avail. Emma’s monotonous existence is disrupted by the invitation to a real ball. Slowly her fantasies come to crystallize in a particular town. It is accompanied by neglect of all materials and an over readiness to fall in love. Emma loves life and pleasure, much more than she loves a man. She is more ardent than passionate. She was in love with Leon, but his physical presence troubled the voluptuousness of this meditation. The Rodolphe affair is in fact a kind of physical parody of the idealized relationship she maintained with Leon. Rodolphe exists on a lower plane, an animal existence. Her marriage, her boredom, her newly awakened sexual desires, and her romantic dreams – all contribute to her fall. Emma is undoubtedly a victim of circumstances. Unlucky coincidences, stupid men and human weaknesses force her fate to be damned for ever. Charles has been systematically invented to be her undoer. She made efforts to love him and repented on tears for having given into another. She could have experienced the great revenge and pride of women, to give birth to a man; but it is a girl. In looking for religious help, she might have had better luck than with the unusually inept Bournisien, another character worthy of her bad luck. The walls against which she will finally dash herself to the pieces have been erected around her as by an evil artist. Emma is sustained by willpower neither from within nor from her husband. In the absence of will power she has enough passion, a somber selfishness to drive a man to criminal deeds. We see her willingness to make Rodolphe into a murderer and she would make Leon, a thief. Though she is a creature of passion, she does not kill herself out of love, but for money. She reconstructs a world of love and luxury, joined like body and soul in the dream of an ideal life. Her life will follow a parallel course on the financial and on the sentimental plane. The disappointment of one coincides with the troubles of another. Flaubert treats her death as damnation where the devil is present in the garb of a blind man, a grimaced monster she glimpsed during her adulterous trips to Rouen. She dies with an atrocious laugh of horror and despair. Emma lacks all capacity for sympathy. Imagination has consumed all other faculties and sentiments. She never had an image dependent on moral beauty. In fact, her life was spent in seeking an image for herself. The search was doomed to destruction because no earthly role of herself or of love could satisfy her. In her own self determined embrace of romantic passion, she traces her own path to destruction. In doing so she moves us not to pity but simply to horror. Emma is essentially a novelistic creation set forth in all her internal complexities. Her dreams are destined by reality to wither into lies. Flaubert’s great success with Emma is that he makes the reader come into imaginative contact with his heroine, a kind of intimacy as the tale progresses and finally ends with tragedy for its heroine.

The Lost Symbol Chapter 4-6

CHAPTER 4 The U.S. Capitol Building stands regally at the eastern end of the National Mall, on a raised plateau that city designer Pierre L'Enfant described as â€Å"a pedestal waiting for a monument.† The Capitol's massive footprint measures more than 750 feet in length and 350 feet deep. Housing more than sixteen acres of floor space, it contains an astonishing 541 rooms. The neoclassical architecture is meticulously designed to echo the grandeur of ancient Rome, whose ideals were the inspiration for America's founders in establishing the laws and culture of the new republic. The new security checkpoint for tourists entering the Capitol Building is located deep within the recently completed subterranean visitor center, beneath a magnificent glass skylight that frames the Capitol Dome. Newly hired security guard Alfonso Nunez carefully studied the male visitor now approaching his checkpoint. The man had a shaved head and had been lingering in the lobby, completing a phone call before entering the building. His right arm was in a sling, and he moved with a slight limp. He was wearing a tattered army-navy surplus coat, which, combined with his shaved head, made Nunez guess military. Those who had served in the U.S. armed forces were among the most common visitors to Washington. â€Å"Good evening, sir,† Nunez said, following the security protocol of verbally engaging any male visitor who entered alone. â€Å"Hello,† the visitor said, glancing around at the nearly deserted entry. â€Å"Quiet night.† â€Å"NFC play-offs,† Nunez replied. â€Å"Everyone's watching the Redskins tonight.† Nunez wished he were, too, but this was his first month on the job, and he'd drawn the short straw. â€Å"Metal objects in the dish, please.† As the visitor fumbled to empty the pockets of his long coat with his one working hand, Nunez watched him carefully. Human instinct made special allowances for the injured and handicapped, but it was an instinct Nunez had been trained to override. Nunez waited while the visitor removed from his pockets the usual assortment of loose change, keys, and a couple of cell phones. â€Å"Sprain?† Nunez asked, eyeing the man's injured hand, which appeared to be wrapped in a series of thick Ace bandages. The bald man nodded. â€Å"Slipped on the ice. A week ago. Still hurts like hell.† â€Å"Sorry to hear that. Walk through, please.† The visitor limped through the detector, and the machine buzzed in protest. The visitor frowned. â€Å"I was afraid of that. I'm wearing a ring under these bandages. My finger was too swollen to get it off, so the doctors wrapped right over it.† â€Å"No problem,† Nunez said. â€Å"I'll use the wand.† Nunez ran the metal-detection wand over the visitor's wrapped hand. As expected, the only metal he detected was a large lump on the man's injured ring finger. Nunez took his time rubbing the metal detector over every inch of the man's sling and finger. He knew his supervisor was probably monitoring him on the closed circuit in the building's security center, and Nunez needed this job. Always better to be cautious. He carefully slid the wand up inside the man's sling. The visitor winced in pain. â€Å"Sorry.† â€Å"It's okay,† the man said. â€Å"You can't be too careful these days.† â€Å"Ain't that the truth.† Nunez liked this guy. Strangely, that counted for a lot around here. Human instinct was America's first line of defense against terrorism. It was a proven fact that human intuition was a more accurate detector of danger than all the electronic gear in the world–the gift of fear, as one of their security reference books termed it. In this case, Nunez's instincts sensed nothing that caused him any fear. The only oddity that he noticed, now that they were standing so close, was that this tough-looking guy appeared to have used some kind of self-tanner or concealer makeup on his face. Whatever. Everyone hates to be pale in the winter. â€Å"You're fine,† Nunez said, completing his sweep and stowing the wand. â€Å"Thanks.† The man started collecting his belongings from the tray. As he did, Nunez noticed that the two fingers protruding from his bandage each bore a tattoo; the tip of his index finger bore the image of a crown, and the tip of his thumb bore that of a star. Seems everyone has tattoos these days, Nunez thought, although the pads of his fingertips seemed like painful spots to get them. â€Å"Those tats hurt?† The man glanced down at his fingertips and chuckled. â€Å"Less than you might think.† â€Å"Lucky,† Nunez said. â€Å"Mine hurt a lot. I got a mermaid on my back when I was in boot camp.† â€Å"A mermaid?† The bald man chuckled. â€Å"Yeah,† he said, feeling sheepish. â€Å"The mistakes we make in our youth.† â€Å"I hear you,† the bald man said. â€Å"I made a big mistake in my youth, too. Now I wake up with her every morning.† They both laughed as the man headed off. Child's play, Mal'akh thought as he moved past Nunez and up the escalator toward the Capitol Building. The entry had been easier than anticipated. Mal'akh's slouching posture and padded belly had hidden his true physique, while the makeup on his face and hands had hidden the tattoos that covered his body. The true genius, however, was the sling, which disguised the potent object Mal'akh was transporting into the building. A gift for the one man on earth who can help me obtain what I seek. CHAPTER 5 The world's largest and most technologically advanced museum is also one of the world's best- kept secrets. It houses more pieces than the Hermitage, the Vatican Museum, and the New York Metropolitan . . . combined. Yet despite its magnificent collection, few members of the public are ever invited inside its heavily guarded walls. Located at 4210 Silver Hill Road just outside of Washington, D.C., the museum is a massive zigzag-shaped edifice constructed of five interconnected pods–each pod larger than a football field. The building's bluish metal exterior barely hints at the strangeness within–a six-hundred- thousand-square-foot alien world that contains a â€Å"dead zone,† a â€Å"wet pod,† and more than twelve miles of storage cabinets. Tonight, scientist Katherine Solomon was feeling unsettled as she drove her white Volvo up to the building's main security gate. The guard smiled. â€Å"Not a football fan, Ms. Solomon?† He lowered the volume on the Redskins play-off pregame show. Katherine forced a tense smile. â€Å"It's Sunday night.† â€Å"Oh, that's right. Your meeting.† â€Å"Is he here yet?† she asked anxiously. He glanced down at his paperwork. â€Å"I don't see him on the log.† â€Å"I'm early.† Katherine gave a friendly wave and continued up the winding access road to her usual parking spot at the bottom of the small, two-tiered lot. She began collecting her things and gave herself a quick check in the rearview mirror–more out of force of habit than actual vanity. Katherine Solomon had been blessed with the resilient Mediterranean skin of her ancestry, and even at fifty years old she had a smooth olive complexion. She used almost no makeup and wore her thick black hair unstyled and down. Like her older brother, Peter, she had gray eyes and a slender, patrician elegance. You two might as well be twins, people often told them. Their father had succumbed to cancer when Katherine was only seven, and she had little memory of him. Her brother, eight years Katherine's senior and only fifteen when their father died, had begun his journey toward becoming the Solomon patriarch much sooner than anyone had ever dreamed. As expected, though, Peter had grown into the role with the dignity and strength befitting their family name. To this day, he still watched over Katherine as though they were just kids. Despite her brother's occasional prodding, and no shortage of suitors, Katherine had never married. Science had become her life partner, and her work had proven more fulfilling and exciting than any man could ever hope to be. Katherine had no regrets. Her field of choice–Noetic Science–had been virtually unknown when she first heard of it, but in recent years it had started opening new doors of understanding into the power of the human mind. Our untapped potential is truly shocking. Katherine's two books on Noetics had established her as a leader in this obscure field, but her most recent discoveries, when published, promised to make Noetic Science a topic of mainstream conversation around the world. Tonight, however, science was the last thing on her mind. Earlier in the day, she had received some truly upsetting information relating to her brother. I still can't believe it's true. She'd thought of nothing else all afternoon. A pattering of light rain drummed on her windshield, and Katherine quickly gathered her things to get inside. She was about to step out of her car when her cell phone rang. She checked the caller ID and inhaled deeply. Then she tucked her hair behind her ears and settled in to take the call. Six miles away, Mal'akh was moving through the corridors of the U.S. Capitol Building with a cell phone pressed to his ear. He waited patiently as the line rang. Finally, a woman's voice answered. â€Å"Yes?† â€Å"We need to meet again,† Mal'akh said. There was a long pause. â€Å"Is everything all right?† â€Å"I have new information,† Mal'akh said. â€Å"Tell me.† Mal'akh took a deep breath. â€Å"That which your brother believes is hidden in D.C. . . . ?† â€Å"Yes?† â€Å"It can be found.† Katherine Solomon sounded stunned. â€Å"You're telling me–it is real?† Mal'akh smiled to himself. â€Å"Sometimes a legend that endures for centuries . . . endures for a reason.† CHAPTER 6 Is this as close as you can get?† Robert Langdon felt a sudden wave of anxiety as his driver parked on First Street, a good quarter mile from the Capitol Building. â€Å"Afraid so,† the driver said. â€Å"Homeland Security. No vehicles near landmark buildings anymore. I'm sorry, sir.† Langdon checked his watch, startled to see it was already 6:50. A construction zone around the National Mall had slowed them down, and his lecture was to begin in ten minutes. â€Å"Weather's turning,† the driver said, hopping out and opening Langdon's door for him. â€Å"You'll want to hurry.† Langdon reached for his wallet to tip the driver, but the man waved him off. â€Å"Your host already added a very generous tip to the charge.† Typical Peter, Langdon thought, gathering his things. â€Å"Okay, thanks for the ride.† The first few raindrops began to fall as Langdon reached the top of the gracefully arched concourse that descended to the new â€Å"underground† visitors' entrance. The Capitol Visitor Center had been a costly and controversial project. Described as an underground city to rival parts of Disney World, this subterranean space reportedly provided over a half-million square feet of space for exhibits, restaurants, and meeting halls. Langdon had been looking forward to seeing it, although he hadn't anticipated quite this long a walk. The skies were threatening to open at any moment, and he broke into a jog, his loafers offering almost no traction on the wet cement. I dressed for a lecture, not a four-hundred-yard downhill dash through the rain! When he arrived at the bottom, he was breathless and panting. Langdon pushed through the revolving door, taking a moment in the foyer to catch his breath and brush off the rain. As he did, he raised his eyes to the newly completed space before him. Okay, I'm impressed. The Capitol Visitor Center was not at all what he had expected. Because the space was underground, Langdon had been apprehensive about passing through it. A childhood accident had left him stranded at the bottom of a deep well overnight, and Langdon now lived with an almost crippling aversion to enclosed spaces. But this underground space was . . . airy somehow. Light. Spacious. The ceiling was a vast expanse of glass with a series of dramatic light fixtures that threw a muted glow across the pearl-colored interior finishes. Normally, Langdon would have taken a full hour in here to admire the architecture, but with five minutes until showtime, he put his head down and dashed through the main hall toward the security checkpoint and escalators. Relax, he told himself. Peter knows you're on your way. The event won't start without you. At the security point, a young Hispanic guard chatted with him while Langdon emptied his pockets and removed his vintage watch. â€Å"Mickey Mouse?† the guard said, sounding mildly amused. Langdon nodded, accustomed to the comments. The collector's edition Mickey Mouse watch had been a gift from his parents on his ninth birthday. â€Å"I wear it to remind me to slow down and take life less seriously.† â€Å"I don't think it's working,† the guard said with a smile. â€Å"You look like you're in a serious hurry.† Langdon smiled and put his daybag through the X-ray machine. â€Å"Which way to the Statuary Hall?† The guard motioned toward the escalators. â€Å"You'll see the signs.† â€Å"Thanks.† Langdon grabbed his bag off the conveyor and hurried on. As the escalator ascended, Langdon took a deep breath and tried to gather his thoughts. He gazed up through the rain-speckled glass ceiling at the mountainous form of the illuminated Capitol Dome overhead. It was an astonishing building. High atop her roof, almost three hundred feet in the air, the Statue of Freedom peered out into the misty darkness like a ghostly sentinel. Langdon always found it ironic that the workers who hoisted each piece of the nineteen-and-a-half-foot bronze statue to her perch were slaves–a Capitol secret that seldom made the syllabi of high school history classes. This entire building, in fact, was a treasure trove of bizarre arcana that included a â€Å"killer bathtub† responsible for the pneumonic murder of Vice President Henry Wilson, a staircase with a permanent bloodstain over which an inordinate number of guests seemed to trip, and a sealed basement chamber in which workers in 1930 discovered General John Alexander Logan's long- deceased stuffed horse. No legends were as enduring, however, as the claims of thirteen different ghosts that haunted this building. The spirit of city designer Pierre L'Enfant frequently was reported wandering the halls, seeking payment of his bill, now two hundred years overdue. The ghost of a worker who fell from the Capitol Dome during construction was seen wandering the corridors with a tray of tools. And, of course, the most famous apparition of all, reported numerous times in the Capitol basement–an ephemeral black cat that prowled the substructure's eerie maze of narrow passageways and cubicles. Langdon stepped off the escalator and again checked his watch. Three minutes. He hurried down the wide corridor, following the signs toward the Statuary Hall and rehearsing his opening remarks in his head. Langdon had to admit that Peter's assistant had been correct; this lecture topic would be a perfect match for an event hosted in Washington, D.C., by a prominent Mason. It was no secret that D.C. had a rich Masonic history. The cornerstone of this very building had been laid in a full Masonic ritual by George Washington himself. This city had been conceived and designed by Master Masons–George Washington, Ben Franklin, and Pierre L'Enfant– powerful minds who adorned their new capital with Masonic symbolism, architecture, and art. Of course, people see in those symbols all kinds of crazy ideas. Many conspiracy theorists claimed the Masonic forefathers had concealed powerful secrets throughout Washington along with symbolic messages hidden in the city's layout of streets. Langdon never paid any attention. Misinformation about the Masons was so commonplace that even educated Harvard students seemed to have surprisingly warped conceptions about the brotherhood. Last year, a freshman had rushed wild-eyed into Langdon's classroom with a printout from the Web. It was a street map of D.C. on which certain streets had been highlighted to form various shapes–satanic pentacles, a Masonic compass and square, the head of Baphomet–proof apparently that the Masons who designed Washington, D.C., were involved in some kind of dark, mystical conspiracy. â€Å"Fun,† Langdon said, â€Å"but hardly convincing. If you draw enough intersecting lines on a map, you're bound to find all kinds of shapes.† â€Å"But this can't be coincidence!† the kid exclaimed. Langdon patiently showed the student that the same exact shapes could be formed on a street map of Detroit. The kid seemed sorely disappointed. â€Å"Don't be disheartened,† Langdon said. â€Å"Washington does have some incredible secrets . . . just none on this street map.† The young man perked up. â€Å"Secrets? Like what?† â€Å"Every spring I teach a course called Occult Symbols. I talk a lot about D.C. You should take the course.† â€Å"Occult symbols!† The freshman looked excited again. â€Å"So there are devil symbols in D.C.!† Langdon smiled. â€Å"Sorry, but the word occult, despite conjuring images of devil worship, actually means `hidden' or `obscured.' In times of religious oppression, knowledge that was counterdoctrinal had to be kept hidden or `occult,' and because the church felt threatened by this, they redefined anything `occult' as evil, and the prejudice survived.† â€Å"Oh.† The kid slumped. Nonetheless, that spring, Langdon spotted the freshman seated in the front row as five hundred students bustled into Harvard's Sanders Theatre, a hollow old lecture hall with creaking wooden benches. â€Å"Good morning, everybody,† Langdon shouted from the expansive stage. He turned on a slide projector, and an image materialized behind him. â€Å"As you're getting settled, how many of you recognize the building in this picture?† â€Å"U.S. Capitol!† dozens of voices called out in unison. â€Å"Washington, D.C.!† â€Å"Yes. There are nine million pounds of ironwork in that dome. An unparalleled feat of architectural ingenuity for the 1850s.† â€Å"Awesome!† somebody shouted. Langdon rolled his eyes, wishing somebody would ban that word. â€Å"Okay, and how many of you have ever been to Washington?† A scattering of hands went up. â€Å"So few?† Langdon feigned surprise. â€Å"And how many of you have been to Rome, Paris, Madrid, or London?† Almost all the hands in the room went up. As usual. One of the rites of passage for American college kids was a summer with a Eurorail ticket before the harsh reality of real life set in. â€Å"It appears many more of you have visited Europe than have visited your own capital. Why do you think that is?† â€Å"No drinking age in Europe!† someone in back shouted. Langdon smiled. â€Å"As if the drinking age here stops any of you?† Everyone laughed. It was the first day of school, and the students were taking longer than usual to get settled, shifting and creaking in their wooden pews. Langdon loved teaching in this hall because he always knew how engaged the students were simply by listening to how much they fidgeted in their pews. â€Å"Seriously,† Langdon said, â€Å"Washington, D.C., has some of the world's finest architecture, art, and symbolism. Why would you go overseas before visiting your own capital?† â€Å"Ancient stuff is cooler,† someone said. â€Å"And by ancient stuff,† Langdon clarified, â€Å"I assume you mean castles, crypts, temples, that sort of thing?† Their heads nodded in unison. â€Å"Okay. Now, what if I told you that Washington, D.C., has every one of those things? Castles, crypts, pyramids, temples . . . it's all there.† The creaking diminished. â€Å"My friends,† Langdon said, lowering his voice and moving to the front of the stage, â€Å"in the next hour, you will discover that our nation is overflowing with secrets and hidden history. And exactly as in Europe, all of the best secrets are hidden in plain view.† The wooden pews fell dead silent. Gotcha. Langdon dimmed the lights and called up his second slide. â€Å"Who can tell me what George Washington is doing here?† The slide was a famous mural depicting George Washington dressed in full Masonic regalia standing before an odd-looking contraption–a giant wooden tripod that supported a rope-and- pulley system from which was suspended a massive block of stone. A group of well-dressed onlookers stood around him. â€Å"Lifting that big block of stone?† someone ventured. Langdon said nothing, preferring that a student make the correction if possible. â€Å"Actually,† another student offered, â€Å"I think Washington is lowering the rock. He's wearing a Masonic costume. I've seen pictures of Masons laying cornerstones before. The ceremony always uses that tripod thing to lower the first stone.† â€Å"Excellent,† Langdon said. â€Å"The mural portrays the Father of Our Country using a tripod and pulley to lay the cornerstone of our Capitol Building on September 18, 1793, between the hours of eleven fifteen and twelve thirty.† Langdon paused, scanning the class. â€Å"Can anyone tell me the significance of that date and time?† Silence. â€Å"What if I told you that precise moment was chosen by three famous Masons–George Washington, Benjamin Franklin, and Pierre L'Enfant, the primary architect for D.C.?† More silence. â€Å"Quite simply, the cornerstone was set at that date and time because, among other things, the auspicious Caput Draconis was in Virgo.† Everyone exchanged odd looks. â€Å"Hold on,† someone said. â€Å"You mean . . . like astrology?† â€Å"Exactly. Although a different astrology than we know today.† A hand went up. â€Å"You mean our Founding Fathers believed in astrology?† Langdon grinned. â€Å"Big-time. What would you say if I told you the city of Washington, D.C., has more astrological signs in its architecture than any other city in the world–zodiacs, star charts, cornerstones laid at precise astrological dates and times? More than half of the framers of our Constitution were Masons, men who strongly believed that the stars and fate were intertwined, men who paid close attention to the layout of the heavens as they structured their new world.† â€Å"But that whole thing about the Capitol cornerstone being laid while Caput Draconis was in Virgo–who cares? Can't that just be coincidence?† â€Å"An impressive coincidence considering that the cornerstones of the three structures that make up Federal Triangle–the Capitol, the White House, the Washington Monument–were all laid in different years but were carefully timed to occur under this exact same astrological condition.† Langdon's gaze was met by a room full of wide eyes. A number of heads dipped down as students began taking notes. A hand in back went up. â€Å"Why did they do that?† Langdon chuckled. â€Å"The answer to that is an entire semester's worth of material. If you're curious, you should take my mysticism course. Frankly, I don't think you guys are emotionally prepared to hear the answer.† â€Å"What?† the person shouted. â€Å"Try us!† Langdon made a show of considering it and then shook his head, toying with them. â€Å"Sorry, I can't do that. Some of you are only freshmen. I'm afraid it might blow your minds.† â€Å"Tell us!† everyone shouted. Langdon shrugged. â€Å"Perhaps you should join the Masons or Eastern Star and learn about it from the source.† â€Å"We can't get in,† a young man argued. â€Å"The Masons are like a supersecret society!† â€Å"Supersecret? Really?† Langdon remembered the large Masonic ring that his friend Peter Solomon wore proudly on his right hand. â€Å"Then why do Masons wear obvious Masonic rings, tie clips, or pins? Why are Masonic buildings clearly marked? Why are their meeting times in the newspaper?† Langdon smiled at all the puzzled faces. â€Å"My friends, the Masons are not a secret society . . . they are a society with secrets.† â€Å"Same thing,† someone muttered. â€Å"Is it?† Langdon challenged. â€Å"Would you consider Coca-Cola a secret society?† â€Å"Of course not,† the student said. â€Å"Well, what if you knocked on the door of corporate headquarters and asked for the recipe for Classic Coke?† â€Å"They'd never tell you.† â€Å"Exactly. In order to learn Coca-Cola's deepest secret, you would need to join the company, work for many years, prove you were trustworthy, and eventually rise to the upper echelons of the company, where that information might be shared with you. Then you would be sworn to secrecy.† â€Å"So you're saying Freemasonry is like a corporation?† â€Å"Only insofar as they have a strict hierarchy and they take secrecy very seriously.† â€Å"My uncle is a Mason,† a young woman piped up. â€Å"And my aunt hates it because he won't talk about it with her. She says Masonry is some kind of strange religion.† â€Å"A common misperception.† â€Å"It's not a religion?† â€Å"Give it the litmus test,† Langdon said. â€Å"Who here has taken Professor Witherspoon's comparative religion course?† Several hands went up. â€Å"Good. So tell me, what are the three prerequisites for an ideology to be considered a religion?† â€Å"ABC,† one woman offered. â€Å"Assure, Believe, Convert.† â€Å"Correct,† Langdon said. â€Å"Religions assure salvation; religions believe in a precise theology; and religions convert nonbelievers.† He paused. â€Å"Masonry, however, is batting zero for three. Masons make no promises of salvation; they have no specific theology; and they do not seek to convert you. In fact, within Masonic lodges, discussions of religion are prohibited.† â€Å"So . . . Masonry is anti religious?† â€Å"On the contrary. One of the prerequisites for becoming a Mason is that you must believe in a higher power. The difference between Masonic spirituality and organized religion is that the Masons do not impose a specific definition or name on a higher power. Rather than definitive theological identities like God, Allah, Buddha, or Jesus, the Masons use more general terms like Supreme Being or Great Architect of the Universe. This enables Masons of different faiths to gather together.† â€Å"Sounds a little far-out,† someone said. â€Å"Or, perhaps, refreshingly open-minded?† Langdon offered. â€Å"In this age when different cultures are killing each other over whose definition of God is better, one could say the Masonic tradition of tolerance and open-mindedness is commendable.† Langdon paced the stage. â€Å"Moreover, Masonry is open to men of all races, colors, and creeds, and provides a spiritual fraternity that does not discriminate in any way.† â€Å"Doesn't discriminate?† A member of the university's Women's Center stood up. â€Å"How many women are permitted to be Masons, Professor Langdon?† Langdon showed his palms in surrender. â€Å"A fair point. Freemasonry had its roots, traditionally, in the stone masons' guilds of Europe and was therefore a man's organization. Several hundred years ago, some say as early as 1703, a women's branch called Eastern Star was founded. They have more than a million members.† â€Å"Nonetheless,† the woman said, â€Å"Masonry is a powerful organization from which women are excluded.† Langdon was not sure how powerful the Masons really were anymore, and he was not going to go down that road; perceptions of the modern Masons ranged from their being a group of harmless old men who liked to play dress-up . . . all the way to an underground cabal of power brokers who ran the world. The truth, no doubt, was somewhere in the middle. â€Å"Professor Langdon,† called a young man with curly hair in the back row, â€Å"if Masonry is not a secret society, not a corporation, and not a religion, then what is it?† â€Å"Well, if you were to ask a Mason, he would offer the following definition: Masonry is a system of morality, veiled in allegory and illustrated by symbols.† â€Å"Sounds to me like a euphemism for `freaky cult.' â€Å" â€Å"Freaky, you say?† â€Å"Hell yes!† the kid said, standing up. â€Å"I heard what they do inside those secret buildings! Weird candlelight rituals with coffins, and nooses, and drinking wine out of skulls. Now that's freaky!† Langdon scanned the class. â€Å"Does that sound freaky to anyone else?† â€Å"Yes!† they all chimed in. Langdon feigned a sad sigh. â€Å"Too bad. If that's too freaky for you, then I know you'll never want to join my cult.† Silence settled over the room. The student from the Women's Center looked uneasy. â€Å"You're in a cult?† Langdon nodded and lowered his voice to a conspiratorial whisper. â€Å"Don't tell anyone, but on the pagan day of the sun god Ra, I kneel at the foot of an ancient instrument of torture and consume ritualistic symbols of blood and flesh.† The class looked horrified. Langdon shrugged. â€Å"And if any of you care to join me, come to the Harvard chapel on Sunday, kneel beneath the crucifix, and take Holy Communion.† The classroom remained silent. Langdon winked. â€Å"Open your minds, my friends. We all fear what we do not understand.† The tolling of a clock began echoing through the Capitol corridors. Seven o'clock. Robert Langdon was now running. Talk about a dramatic entrance. Passing through the House Connecting Corridor, he spotted the entrance to the National Statuary Hall and headed straight for it. As he neared the door, he slowed to a nonchalant stroll and took several deep breaths. Buttoning his jacket, he lifted his chin ever so slightly and turned the corner just as the final chime sounded. Showtime. As Professor Robert Langdon strode into the National Statuary Hall, he raised his eyes and smiled warmly. An instant later, his smile evaporated. He stopped dead in his tracks. Something was very, very wrong.

Aa meeting

At the Delta club, otherwise known as Alcoholics Anonymous, the first thing the people there offered me a book to read and study. I held the book open at the first page while we waited for a girl named Amy; I guess she’s the one who starts the meeting all the time. A tall white man in his fifties walked to me and asked me â€Å"first time here? †; â€Å"yes† I said. â€Å"don’t worry; this meeting helped me a lot. I am father of 16-years-old son, I hide and drink and I am mean to my wife,† the man said.â€Å"wow, hope you get better, I said with a surprised voice. I sat in the back on a creamy plastic chair looking around at what kind of posters they had in the room, an interesting poster said â€Å"IAM RESPONSIBLE†, and another big long post was titled THE TWELVE CONCEPTS FOR WORLD SERVICE. At 6:30 pm Amy walked into the room everyone said â€Å"HI AMY†, â€Å"how’s everyone, glad yall made it† Amy said. Here I notice the meeting started everyone sat down and read IAM RESPONSIBLE all together in one voice. Wow! It looks like these people come here a lot they know what to do. â€Å"Iam responsible† post was about words put together to cheer everyone in room to feel that they can be responsible to change for better life. Next they read THE TWELVE CONCEPETS post, they twelve rules are about how to work on changing inside them and working on their problems. â€Å"hmm, very interesting† I said, people keep coming in to join the group there were around 30 persons, age between 25-60, all kind of people male and female, Black, white, Asian, Latin all kind of people. Around 6:50pm group of bikers entered the room all sat next to each other wearing-same jackets, around five guys in their fifties. A white girl in her twenties entered after them with a child and joined the meeting, too. Amy said; â€Å"who’s here for the first time†, everyone turned and looked at me and I thought, â€Å"no way to hide. † I raised my hand kind of shyly. â€Å"Welcome, introduce yourself please† Amy said. â€Å"hi, I am Angelica, and I am here to help my husband stop drinking† I said. Yes I lied about my name and-reason I am there, but that’s what came in my mind when she asked me.â€Å"do you think he’s an alcoholic† Amy asked. â€Å"Hmm, I am not sure but he seems to be drinking a lot these days which is not usual† I said. â€Å"Well, welcome, I hope you find your answers† Amy said. â€Å"Welcome Angelica† everyone said. I sat in back and I listened to everyone talking about their days and lives, families, and people they care about. To start talking in meeting they raised their hand and said their name and â€Å"I am alcoholic,† just like â€Å"hello all I am Angelica and I am an alcoholic.† They start talking about what they want to share with-others. I saw the hope in everyone’s eyes in that room and excitement, talking about pass? And how they had changed. I sat listening to their stories and watching people talking I was all quiet and didn’t say a word. Some of them were calm talking about their family and how happy they were able to take care of them and how this meeting helping them to realize how bad they? Once felt how much their family’s needs them a- father or mother, wife and husband. Some other people were telling their stories with anger and tension about how bad they were, and what they would do to have alcohol. Meeting was one hour. After I sat there and listened to all these stories I felt very sad, and wondered how someone could get to this point, just like drugs. After hour meeting over, everyone returned the book they had and organized the room, and stand together talking about how good it was to see each other, they were all friends, family, not just a group that had come over here to do what they had to do. This was awesome I walked out and said â€Å"thank you, I enjoyed the meeting was good to meet yall. † They answered â€Å"thank you for coming hopefully we helped you a little; enjoy the rest of your day. † That was nice and sweet from them they were very friendly. When I got in-car I knew I will never go back again but it was a different experience. I learned from it: no matter what, people can change if they decide to.

The effects of coaching on nurse turnover Research Paper

The effects of coaching on nurse turnover - Research Paper Example The wide scope of data collection through triangulation will on the other hand ensure reliability of results and conclusion of the research. The hypothesis is important because it will facilitate evaluation of the research question to determine whether coaching that is offered to nurses has an impact on their probability of leaving the profession. The research issue, relationship between nurses’ turnover and coaching is on the other hand important because it will help in evaluating coaching as a possible solution to nurse mobility and shortage. The research therefore has a potential of presenting a solution to the crisis in the nursing profession. Research design This section discusses the research approach and designs to be adopted. It defines the proposed approach together with its associated advantages and disadvantages. It also offers an overview of the design to be adopted and a comparison with alternative designs besides describing the procedure for the research study. R esearch approach The research will apply quantitative approach in its methods. This is because the nature of data to be collected as well as the research question to be answered suits the quantitative approach. Quantitative research for example allows for test of hypothesis besides evaluation of quantifiable variables. Quantitative research approach has a number of advantages. It for example, when properly undertaken, guarantees reliability of the results and hence conclusions. This is because of its application of statistical tools in analysis to express the true features of the collected data. The analysis in quantitative approach is therefore free from manipulation based on the researcher’s attitudes and... The main aim of the study is the determination of existence of a significant relationship between coaching of nursing personnel and the turnover rate. In order to achieve this, the study intends to collect both primary and secondary data over participants’ perception on the two variables. While secondary data will be sought from existing publications, primary data will be obtained through designed questionnaires to be administered to sampled participants. The research will further use randomised design in sampling to minimize chances of biasness for reliability. Similarly, triangulation of data will be developed through selecting different cohorts of respondents that will include trainees, trainers, and different subsets of registered nurses. Data in the two variables will be collected in numeric scale with coaching being measured in terms of effectiveness and mobility being measured in terms of probability. The results will then be analyzed to evaluate existence of a relation ship to answer the research question. Based on the result, the study will recommend necessary measures towards finding a solution for the highly reported turnover rates.

Contemporary problem with ( Sales Ethics ) Literature review

Contemporary problem with ( Sales Ethics ) - Literature review Example Ferrell, Fraedrich, & L. Ferrell, 2012, p.5). Ethical issues related to sales are one area which has been neglected in most of the organizations. However it is discernible that a major percentage of the employees in an organization are involved in sales activities of the organizations. Sales people are the direct contact point with the customers of the company. Hence the ethical issues related to sales are to be dealt with correctly by the company management people. The importance of ethics in sales, various ethical issues related to sales and its consequences on the organization have all been discussed in this study. Finally some recommendations have been discussed which could solve these problems and issues related to sales ethics. Ethics can be defined as the code of conduct followed by any individual according to the activities by him in the organization he is working for. It helps in deciding upon what is wrong or right in a particular situation (Ingram, et al., 2007, p.45). Salespeople are indulged in various ethical issues in an organization. It is the sales team who are significantly exposed to ethical pressures compared to any other professionals (Spiro, 2007, p.469). A salesperson might be involved in selling certain product to its customer which he may not satisfy its requirement. In order to sale a product successfully a salesperson might be indulged in activities of exaggerating the benefits offered by a product or service (Ingram, et al., 2012, p.38). The function of sales in an organization is considered to perform under a typical ethical culture or subculture within the companys ethical culture as a whole. It thus results in influencing managers and its associates in a company. Consequently it he lps in the creation of conditions or situations that either permits or limits misconduct. There may be

English Essay Example | Topics and Well Written Essays - 250 words - 20

English - Essay Example The event was also held to thank the Wampanoag Indian tribe because they were the ones who taught the pilgrims of Plymouth survival and hunting skills. Luckily for the pilgrims, it was the Wampanoag’s’ tradition to offer whatever food they have to their visitors that is why the event became sort of a feast. This custom then spread throughout the colonies (â€Å"Thanksgiving Day†). Before the formal date for Thanksgiving was established, each region chose their date for the celebration. It was in 1789 when first President George Washington officially declared November 26 as a day of Thanksgiving. In 1863, President Lincoln proclaimed that the fourth Thursday of November be the day for thanksgiving. Since then, every American president made a proclamation on the celebration of Thanksgiving Day (â€Å"Thanksgiving Day†). People in America celebrate Thanksgiving Day with their families. The event is usually accompanied with sumptuous meals that include cranberry juice, mashed potatoes, and pumpkin or apple pie. Of course, the day would not be complete without turkey. However, some people would rather serve roast prime rib than turkey. Before the family shared the meal, a special thank you prayer will be said. Also, most of the families ask their family members to say anything that they are thankful for (â€Å"Thanksgiving

Interview Project Essay Example | Topics and Well Written Essays - 2000 words

Interview Project - Essay Example For that reason, the servant leader shares his power with the people and puts the needs of the people first and helps his subordinates to fully develop their potentials. The servant leader therefore views himself/herself as a servant of the people mandated by the people to lead them and to help them to exploit their potentials and be able to achieve their goals in life. This paper is an Interview project synthesis. The paper is composed of two parts. The first part is the summary of the interview on servant leadership that was carried out on Moses Charlton, chairman of a Catholic parish council based in Dallas Texas, while the second part is an evaluation of what has been learnt in the interview, and a synthesis of this information into a personal philosophy of leadership. Professional Background of the interviewee The interviewee said that he is a trained human resource manager. He said that he has a master’s degree in human resource management. He also said that he has atten ded various courses on leadership in the Catholic church and he is therefore well versed with leadership in the church. On his experience in leadership, the interviewee said that he has served as a human resource manager in various companies for a period of thirty years, before his retirement. Mr Charlton therefore said that he has extensive knowledge of leadership both in the cooperate world and also in the church. Charlton’s responsibilities as the chairman of Catholic Parish council in Dallas Texas As the chairman of parish council, Mr. Charlton is first and foremost, the head of the parish council and he is the one who chairs all the meetings of the parish council in the parish. Charlton also is in charge of all development projects in the parish; he oversees all the development projects in the parish. Mr Charlton also is the coordinator of all the activities in the parish, and he is therefore mandated to ensure that all the activities in the parish run smoothly in accord ance with the program of the parish. Charlton’s Philosophy of Leadership On his philosophy of leadership, Charlton said that he is a servant leader. And when I asked him what he understands the servant leadership to be, he said that, servant leadership is a style of leadership whereby the leader views himself not as the master or as the boss of the people, but rather as the servant, the steward, or the shepherd of the people. Charlton went on to say that the guiding principle of servant leadership is to treat people not merely as means to achieve some objective, but rather to see the people as the very objective or the goal of leadership. He went on to explain that, although in leadership making profits for the organisation is of course one of the goals of leadership, monetary profits however should not be made at the expense of the lives of the people/ workers. He said that for him, the primary objective of leadership is to empower his subordinates and to ensure that they ar e contented and to ensure that he has given them conducive environment and means to fully exploit their potentials. He went on to argue that, although at fast glance servant leadership may seen as a leadership style that will lead to massive losses in the organisation, servant leadership actually leads to making an organisation successful

Business Research Essay Example | Topics and Well Written Essays - 2250 words

Business Research - Essay Example This trend of use of celebrities in adverts is not likely to change in the near future. The media have contributed to this obsession through overloading the society with information and demonstrations of celebrities and giving them entertainment. The use of celebrities in adverts accrues benefits not only to the organization but also to the celebrity. Through the use of a celebrity, the consumer feels a positive feeling of association and security. The consumers deem their celebrities as idols, and once they recommend the use of a product, they deem such products as of high quality. Consumers like to be associated with celebrities, and they end up buying such products because they would like to be like the celebrity. In essence, the use of a celebrity makes a product stand out and be recalled by the consumers. The use of a celebrity makes the products or services stand out. Celebrity endorsement has been regarded as a way of getting the brand noticed amidst the high competition in th e market environment. There are huge impacts of the use of celebrities in adverts among consumers through audio visual commercials. ... Relevance of the Research Numerous studies have been carried out to identify the impact of celebrity endorsements on sales and marketing. Nevertheless, there is disagreement and debate on the precise role of celebrity endorsement on customer discernment towards the brand. Customer attitudes form the basis for increased sales and marketing of a product. Some studies note that there is a weak correlation between the two while others state that there is a strong correlation between the two. This research proposal will provide a basis on the acquisition of insights in the field of consumer discernments towards a brand or product and the impact of celebrity endorsements on them to influence sales and marketing. This proposal will structure a systematic review with respect to these associations to offer marketing economists a useful guide on celebrity endorsement. Because this proposal will assist clarify the role of celebrity endorsement in adverts, it will also serve societal and practic al relevance. For organizations, it is particularly significant to identify the positive and negative effects of celebrity endorsement on the discernment of the customer towards the product and brand so purchase decision making and purchasing behavior can be increased. This paper will give insights on the significance of celebrity endorsement through giving reference to an example of celebrity endorsements such as David Beckham by Adidas. An enhanced comprehension of celebrity endorsement unquestionably prompts managers to take on an effective policy by which sufficient customer discernment will be engendered. This will lead to increased customer purchase intents, which will positively affect the

What do the French, Italian and British economies tell us about the Essay

What do the French, Italian and British economies tell us about the extent to which there has been a convergence in the character of business systems across Europe - Essay Example The markets in Western Europe have been strong, active and stable for quite a long time.The countries in Central and Eastern Europe have to catch up. The introduction of Euros as common currency has already begun the gravitation process towards strengthening of the whole European market.The convergence in business systems across Europe has been the natural consequence of the European Union and its predecessors. There has never been a time in history when business convergence in Europe was as steadfast and purposeful as in the present. The factors responsible for this phenomenon are manifold. Some factors like the establishment of European Free Trade Association (EFTA) in 1959, followed by the European Economic Community (EEC) in 1961, and the current European Union (EU) are visible, and there are others such as the impact of globalization on Europe whose full impact have yet to be assessed holistically.Since the formation of the European Union, the European nations have diverted thei r resources and exports from the global market to the European market. Britain's example of trade shift from United States to the European Union is significant. Also, the effort to converge educational facilities in Europe is a welcome development. (European Convergence Reaches Higher Education).France, Italy and Britain are among the top and largest economies in the world. Over 50% of Britain's exports is now concentrated within EU. Also, in the cases of France and Italy, major business partners constitute the EU nations and USA. (Background Notes: France and Italy). In a broader context, the business systems the world over have converged significantly as a result of globalization and the effects of mergers and acquisitions. The markets in Western Europe have been strong, active and stable for quite a long time. However, the countries in Central and Eastern Europe have to catch up. The introduction of Euros as common currency has already begun the gravitation process towards strengthening of the whole European market. (Claire Smith). 3. Why Convergence The economies of Europe are laden with the twin responsibilities of addressing the needs of their own nation at home and also with their obligations to the EU. Agriculture, industry, economy, travel, methodologies, and every other aspect of the way things are done are traded within the EU as first preference. Moreover, innovation and advanced research are the key cornerstones. (President Chirac's wide-ranging interview). However, the industry has shifted focus on value more than competition in order to survive. Large corporations that were once avowed rivals merge or acquire the other. Behemoths like Corus were taken over by outside players like the Tatas of India. They read the clear message on the wall. Deliver or disappear! The market of the day is highly oriented towards value and innovations. The consumer has become extremely aware of the innovative nature of some industries like telecommunications and has high expectations. The telecom and information industries have done their bit by introducing new devices and schemes every now and then further whetting the consumer's

Techniques to Generate Ideas Essay Example | Topics and Well Written Essays - 750 words

Techniques to Generate Ideas - Essay Example Fundamentally, concept development techniques enable an organization to nurture an idea into a business adventure that an entity can pursue profitably. However, prior to the realization of an idea, it is imperative to appraise it critically (Bluemner). Diverse concept development procedures exist nonetheless, the applicability of the techniques relies on the prevailing circumstances. Consequently, identifying a concept generation methodology for Chocoberry (CB) requires prior knowledge of the entity and its industry. Additionally, prior awareness of the entity’s aspirations is critical. Chocoberry operates in the cuisine industry, which changes rapidly depending on the market trends. Accordingly, research would be an appropriate technique for concept development. Research would enable the management to make a decision based on credible facts that have culminated from studies. Particularly, Chocoberry lacks a diversified product portfolio. Therefore, poor decision-making would terminate in catastrophic results. Research presents a credible procedure to develop concepts (Gorchels 72). Transforming ideas into concept would require research. This would establish the monetary repercussions of the ideas. Additionally, it would ensure the establishment of other facts pertaining to the ideas. The facts would facilitate transformation of the ideas into concepts. The conversion of ideas into concepts follows brainstorming. The management would undertake brainstorming since they bear relevant knowledge on how to expand Chocoberry’s ventures (Bluemner). Research requires expertise hence, individuals vested with the above task ought to bear proficiency in that field. For effective study, Chocoberry would need to outsource the above service. Outsourcing is a viable option since it allows the entity to hire experts that Chocoberry may lack. Additionally, outsourcing would ensure that objectivity in the undertaking of research. Conversely, if Chocoberry’s staff undertakes the research on the concepts it would culminate in skewed findings since the employees would manipulate the study to suit their departments or career objectives. Overall, the research would demand expertise due to technicality and objectivity of the procedure. Though scholars have availed methods to evaluate business opening, it is imperative to concede that the majority of the ideas appraise the financial aspect only. The detail below exemplifies an opposite criterion of evaluating business ideas. Initially, the evaluators should establish the relevance of an idea to Chocoberry’s objectives. Secondly, the evaluator would analyze the financial implication of an idea. Chocoberry aims at boosting its profitability. Subsequently, ideas with negative financial returns are infeasible. Evaluation of the financial implication would adopt methods such as Net present value (NPV). Visibly, managements fail to analyze the operation repercussions of an idea. This aspect would reveal modalities relating to the personnel requirements of implementing the proposed idea. Additionally, it would reveal an idea’s implications on the entity’s efficiency. The three criteria would provide a procedure that analyzes an idea in multifaceted manner. Essentially, this would facilitate grading of the proposals (Allen 32). It is vital to rank ideas since it helps the management to effect well thought out ideas.

Plastic Money Essay Example for Free

Plastic Money Essay Results for: history of wipro company Read the news for history of wipro company - Order by: Date Weighted * The History of LucasArts company Video THE BEARDED TRIO ON FACEBOOKTHE BEARDED TRIO ON TWITTERI need your Star Wars memories for a book 20/9/2012 * Apple Is Not The Most Valuable Company In The History Of The World — IBM Wo Apple is not the most valuable company in the history of the world. Its not even Microsoft, which was reported to have been toppled by Apple today. Its IBM by 21/8/2012 * Hong Kong: A history of company incorporation To mark the twentieth anniversary of the Companies Registry a report has been published, written by Professor S H Goo, providing a history of company incorporation in Hong Kong: see 14/8/2013 * The History Of London’s Power Stations The recent news that Battersea Power Station is once again up for sale will be of little surprise to long-time watchers of the crumbling riverside building. Since closure in 1983 13/3/2012 * The history of MS lingerie We are always thinking of new and innovative ways to create content for our clients. Often this involves starting from a blank page, but here’s an example of where we 27/2/2012 * Have we airbrushed the history of the Titanic? Titanic under construction at Harland and Wolff On Sunday morning, we debated that challenging question in a discussion many of you were moved to comment on by text, tweet and 6/3/2012

Phobias Essay Example for Free

Phobias Essay A phobia is a common word to describe an unhealthy condition in which people experience abnormal fear of certain things or phenomena and demonstrate irrational behavior. The standard medical definition of phobia defines it as â€Å"early always, excessive fear of some particular type of object or situation; fear that is persistent and without sound grounds, or without grounds accepted as reasonable by the sufferer† (Beck, Emery, Greenberg 1985:115). Overall, the main symptoms of a phobia are â€Å"the presence of fear and by avoidance behavior† (Hamilton 1995:170). This fear should be excessive and manifested in physical symptoms, such as dryness of the mouth, nausea, sweat, and even faintness. The presence of excessive fear then leads a person to avoid the dreaded situation. Whatever the symptoms of the phobia might be, it is certain that phobias are a serious condition that can adversely affect the life of a person. In the following, we discuss various typical types of phobias, demonstrating their harmful influence on people’s lives. One of the most common phobias is agoraphobia, â€Å"a generalized fear of leaving home or a small familiar safe area, and of possible panic attacks that might follow. Agoraphobia is the only phobia regularly treated as a medical condition† (Wikipedia, 2006). This condition is one of the few phobias that are regularly treated with medication and behavioral therapy. When present in individuals, agoraphobia can seriously impair an individual’s ability to interact with the environment. Quite often, it will restrict a person’s willingness to relocate or even move out of one’s home. Agoraphobia typically emerges in individuals in their twenties who have a â€Å"a lowered threshold for panic attacks associated with separation† (Beck, Emery, Greenberg 1985: 134). Another widespread type is social phobia related to the general dislike of society aggravated to the degree of a medical condition. Another term for the same disease is the social anxiety disorder. The medical definition describes this phobia as â€Å"excessive long-lasting social anxiety causing relatively extreme distress and impaired ability to function in at least some areas of daily life† (Wikipedia, 2006). This fear can be seen in ordinary shyness which is characteristic of virtually all people in certain situations. However, whether shyness can be seen as a phobic condition is a matter of debate. In addition, there are more specific conditions that focus on selected objects or situations. One example is needle phobia, â€Å"a recently defined medical condition that affects at least 10% of the population† (Hamilton 1995:170). The people who suffer from this condition have developed an aversion to all kinds of medical procedures that involve an injection, which often triggers an avoidance of health care as a whole. It is certain that this condition can put the lives of people who demonstrate it in serious danger if it leads them to neglect a visit to a doctor. Therefore, phobias are serious health disorders that have the potential to seriously disrupt an individual’s life. Whereas people often demonstrate irrational behavior, only some instances have been classified as medical conditions qualifying for the definition of phobia. These include agoraphobia, or fear of open spaces or unwillingness to leave the familiar space, social phobia, also known as social anxiety disorder, and some more specific conditions, such as needle phobia. To a different degree, these phobias are widely spread and affect a large proportion of population.

The Effect Of Dividend Policy Finance Essay

The Effect Of Dividend Policy Finance Essay The issue of how much a company should pay its stockholders as dividend is been of concern to managers. The optimal dividend policy of a firm depends on investors desire for capital gains as opposed to income, willingness to forgo dividends for future returns, and perception of risk associated with postponement of returns. Management is often in a dilemma; whether to pay dividends or to retain them for future investments with implications on share value. The study sought to determine the effects of dividend policy on the market share value in the banking industry in Kenya, using National Bank Kenya (NBK) as case for the study. The study applied an explanatory research design covering a proportionate sample of 100 shareholders drawn from a target population of 47,000 shareholders of National Bank of Kenya. Data was collected using a structured questionnaire. Both descriptive and inferential statistics were used to analyze data. The hypotheses were tested by use of Pearsons Moment Corr elation. With a response rate of 68%, the study established that NBK had a dividend policy as confirmed by 91% of the respondents. The study established a strong and positive correlation (0.850) between dividend payout and market share value, with a P-value of 0.000. There was a positive correlation (0.299) between dividend growth rate and market value of shares with a p-value is 0.013; hence establishing a significant relationship between variables. There was a positive correlation (0.502) between regularity of dividend declaration and market share value with a P-value was 0.000. Dividend policy had a significant effect on the market share value. The study recommends that management in banks and specifically National Bank Kenya must adjust the dividend policy in tandem with interests and requirements of shareholders to improve the market share value. Key Terms: Dividend policy, dividend payout, dividend declaration, share value Background to the Study Dividend policy has been a puzzle in corporate finance for several decades. Among numerous research subjects about dividend policy, the most popular one is the relationship between the dividend level and the share price of a firm. According to the dividend discount model (Gordon, 1959); it is feasible to derive that dividend payment augmentation should be accompanied by the value increase in a firm. Miller and Modigliani (1961) however, point out that the value of a firm is not influenced by current and future dividend decisions, which is well recognized as the dividend irrelevance theory. According to Kapoor (2009) dividend policy connotes to the payout policy, which managers pursue in deciding the size and pattern of cash distribution to shareholders over time. Therefore, managements primary goal is shareholders wealth maximization, which translates into maximizing the value of the company as measured by the price of its common stock. This goal can be achieved by giving the shareholders a fair payment on their investments. Gordon (1963) found that dividend policy of the company did affect the market prices of its shares. Share value is represented by the market price of the companys common stock, which, in turn, is the function of the companys investment, financing and dividend decisions. Dividend decisions are recognized as centrally important because of increasingly significant role of the finances in the firms overall growth strategy. Bishop et al., (2000) contends that managers must not only consider the question of how much of the companys earnings are needed for investment, but also take into consideration the possible effect of their decisions on share prices. According to Kapoor (2009), share prices of a firm tend to be reduced whenever there is a reduction in dividend payments. An announcement of dividend increase generates abnormal positive security returns and an announcement of dividend decrease generates abnormal negative security returns. A drop in share prices occurs because dividends have a signaling effect. The Research Problem Dividend policy is an integral part of financial management decision of a firm. There is adequate empirical evidence pointing to a strong relationship between dividend policy and stock market prices. However, managers are in a dilemma as to whether to pay large, small or zero percentage of their earnings as dividends or to retain them for future investments. This situation is occasioned by the different shareholder interests which management has to satisfy. For instance, some shareholders prefer to be paid dividends every year for investing in other profitable businesses while other shareholders would like to invest in the future and thus, prefer that the dividends be retained by the company for re-investment. However, most investors prefer companies with high pay outs because they are less risky than potential future capital gains. Since the bank management is dealing with competing interests of various shareholders, the kind of dividend policy they adopt may have either positive or negative effects on the share prices of the company. According to Miller and Modigliani (1961), the effect of a firms dividend policy on the current price of its shares is a matter of considerable importance, not only to management who must set the policy, but also to investors planning portfolios and to economists seeking to understand and appraise the functioning of the capital market. It is this basis that the study sought to establish the effects of dividend policy on market share value in the banking industry in Kenya, using National Bank of Kenya as a case for the study. Purpose of the Study The purpose of the study the study was to determine the effects of dividend policy on the market share value in the banking industry in Kenya, using case study of National Bank of Kenya. The constructs of dividend policy that were correlated with market share value were dividend growth rate, dividend payout, and regularity of dividend declaration. Research Methodology The study adopted an explanatory research design. The design allowed description of the variable characteristics and systematic explanation of the relationships amongst them as supported by Mugenda and Mugenda (2003) and Kothari (2004). The study covered a sample of 100 respondents from a population of 47,000 general public shareholders. The sample was selected through proportionate stratified sampling method; where the population was divided into five strata; shareholders with 1 to 100,000 shares, shareholders with shares between 100,001 and 200,000 shares, shareholders with 20001 to 30000 shares, shareholders with 300,001 to 400,000 shares and shareholders with over 400,000 shares. A structured, self-administered questionnaire was used to collect data from the respondents. Descriptive statistics including frequencies, percentages and mean were used to describe variable characteristics while inferential statistics (correlation and regression) were used to determine and explain varia ble relationships. The research hypotheses were tested using Pearsons Moment Correlation was used to test the research hypotheses. The study also tested the working of the postulated model using ANOVA while regression analysis was applied to test the test model in explaining the variable relationships. Results and Analysis The study achieved a response rate of 68%. Among the respondents, 32% were female while 68% were male; implying that majority of the National Bank of Kenya (NBK) shareholders is male. Dividend Policy The respondents were given a set of statements regarding NBKs dividend policy and asked to indicate extent to which they agreed with each one of them. According to the results (Table 1), 91% of the respondents were aware that National Bank of Kenya had a dividend policy. However, 59% indicated that the Dividend Policy was not well communicated to and understood by the shareholders. Table 1: Status of Dividend Policy Statement/ item Strongly Disagree Disagree Agree Strongly Agree Mean Frq % Frq % Frq % Frq % National Bank of Kenya has a Dividend Policy 5 7.4 1 1.5 29 42.6 33 48.5 3.32 NBK dividends policy is well understood by its shareholders 19 27.9 21 30.9 14 20.6 14 20.6 2.34 Dividend policy has been and continues to be important factor driving NBK share value 1 1.5 12 17.6 19 27.9 36 52.9 3.32 Formal dividend policy gives shareholders the assurance of predictable dividend payments 0 0 22 32.4 32 47.1 14 20.6 2.88 The study revealed that the dividend policy has been and continues to be an important factor driving NBK share value as supported by 80% of the respondents. Respondents were of the view that a formal dividend policy gives shareholders the assurance of predictable dividend payments (68%). The importance of the dividend policy to shareholders was clearly underscored as demonstrated by above average mean scores on all the constructs on which it was measured except the understanding of the policy by shareholders. Dividend Payments on Share Value Objective one sought to assess the effects of dividend payout on the market share value of National Bank of Kenya. An assessment of the effects of dividend payments on share value involved a set of statement which the respondents were required to indicate the extent to which they agreed with them. As shown in Table 2, 90% of the respondents pointed out that they considered payment of dividends a major element in the value of shares, meaning that an increase in a dividend payout causes an increase in share price as supported by 88% of the respondents. However, 79% felt that dividend payment did not remove excess cash flows that could be invested in unprofitable projects. Majority of the respondents (98%) strongly submitted that dividend paying firms are more closely scrutinized by financial analysts to assess managements role in building share value. Further they felt that dividend payments should satisfy shareholders dividend preference rather than depend on the firms investing or financing decisions. The study also revealed that dividend payments are better signals of confidential information than other media forms (98%); thus raising share value. The respondents were also of the view that payment of dividends is a demonstration that that the firm is strong enough and can pass up profitable investments (98%). Moreover, most of the respondents (78%) agreed that they valued their shares at NBK because of the regular dividend payments they received. Out of eight items used to measure the effect of dividend payment on share value, five of them received above average mean scores ranging between 2.97 to 3.76; a demonstration that that indeed dividend pay ment is a major determinant of share value. Table 2: Effects of Dividend Payments on Market Share Value Statement/ item Strongly Disagree Disagree Agree Strongly Agree Mean Fre % Fre % Fre % Fre % I consider payment of dividends a major element in the value of shares I hold at National Bank of Kenya 2 2.9 5 7.4 29 42.6 32 47.1 3.34 An increase in a dividend payout causes an increase in share price 0 0 8 11.8 28 41.2 32 47.1 2.18 Dividend payment removes excess cash flows that could be invested in unprofitable projects 0 0 54 79.4 14 20.6 0 0 2.21 Dividend paying firms are more closely scrutinized by financial analysts to assess managements role in building share value 0 0 1 1.5 41 60.3 26 38.2 2.97 Dividend payments should satisfy shareholders dividend preference rather than depend on the firms investing or financing decisions 0 0 1 1.5 41 60.3 26 38.2 3.37 Dividend payments are better signals of confidential information than other media forms; thus raising share value 0 0 1 1.5 14 20.6 53 77.9 3.76 In my view, payment of dividends is a demonstration that that the firm is strong enough and can pass up profitable investments. 0 0 1 1.5 14 20.6 53 77.9 3.76 I value my shares at NBK because of the regular dividend payments I receive. 5 7.4 10 14.7 20 29.4 33 48.5 2.21 The study tested a hypothesis which stated that Dividend payout does not significantly affect the market value of National Bank of Kenya shares. The hypothesis was tested using Pearsons Moment Correlation Coefficient. The test was conducted to establish the relationship between dividend payout and market value of shares. The study (Table 3) revealed a positive correlation (0.850) between dividend payout and market value of NBK shares with a P-value of 0.000, less than the alpha of 0.01; hence establishing a strong and significant relationship between variables. Table 3: Correlation Analysis on Dividend Payout and Market Share Value Dividend payout Market value of NBK shares Dividend pay out Pearson Correlation 1 0.850(**) Sig. (2-tailed) . .000 N 68 68 Market value of NBK shares Pearson Correlation 0.850(**) 1 Sig. (2-tailed) .000 . N 68 68 ** Correlation is significant at the 0.01 level (2-tailed). Dividend Growth Rate and Share Value Objective two sought to determine the effects of dividend growth rate on market value of National Bank of Kenya shares. This was a measured on a number of statements in which respondents were asked to indicate the extent to which they agreed with them. As shown in Table 4, all the respondents disagreed with the statement that dividend payments at National Bank of Kenya have been experiencing steady growth over the years. However, they (98%) pointed that maintenance of steady and growing dividend payments increases a firms share value. Further, 98% of the respondents were of the view that adjusting dividend payments towards a target payout ratio will increase a firms share value. The study also established that 78% of the respondents valued the shares they held with National Bank of Kenya because of steady growth in dividend payments; contradicting Levinsohn (2003) who observes that paying dividends will influence how a company finances its growth but will not have a lasting effect on its value in the marketplace. Though majority of the respondents disagreed with the contention that the dividend payments have been experiencing steady growth over the years, all the others attributes used to measure the effect of dividend growth rate on market share value all the other attributes were favourably rated with mean scores of over 3.3 out of 5; demonstrating that dividend growth is a major determinant in market share value. Table 4: Effects of Dividend Growth Rate on Market Share Value Statement/ item Strongly Disagree Disagree Agree Strongly Agree Mean Fre % Fre % Fre % Fre % NBK dividend payments have been experiencing steady growth over the years 14 20.6 54 79.4 0 0 0 0 1.79 Maintenance of steady and growing dividend payments increases a firms share value 0 0 1 1.5 14 20.6 53 77.9 3.76 Adjusting dividend payments towards a target payout ratio will increase a firms share value 0 0 1 1.5 40 58.8 27 39.7 3.38 I value the shares I hold with National Bank of Kenya because of steady growth in dividend payments 3 4.4 12 17.6 20 29.4 33 48.5 3.32 The study tested a hypothesis which stated that Dividend growth rate does not significantly affect the market value of National Bank of Kenya shares, using Pearsons Moment Correlation. As shown in Table 5, there is a positive correlation (0.299) between dividend growth rate and market value of NBK shares with a P-value of 0.013 less than the alpha of 0.05; hence establishing a high significant relationship between the study variables. This shows that dividend growth rate has a significant effect on market value of NBK shares. Table 5: Correlation Analysis on Dividend Growth Rate and Market Share Value Dividend growth rate Market value of NBK shares Dividend growth rate Pearson Correlation 1 .299(*) Sig. (2-tailed) . .013 N 68 68 Market value of NBK shares Pearson Correlation .299(*) 1 Sig. (2-tailed) .013 . N 68 68 * Correlation is significant at the 0.05 level (2-tailed). Regularity of Dividend Declaration and Market Share Value Objective three sought to establish the effects of regularity of dividend declaration on the market share value through a set of statements. According to the study findings (Table 6), 77% of the respondents considered regularity of dividend declaration as major element in the value of shares they owned whereas 88% felt that regular dividend declaration caused an increase in share price. Further, 90% of the respondents submitted that regular dividend declaring firms have more shareholders and their share value is high. Table 6: Effects of Regularity of Dividend Declaration on Market Share Value Statement/ item Strongly Disagree Disagree Agree Strongly Agree Mean Fre % Fre % Fre % Fre % I consider regularity of dividend declaration a major element in the value of shares I hold at National Bank of Kenya 1 1.5 14 20.6 29 42.6 24 35.3 3.12 Regularity of dividend declaration causes an increase in share price 2 2.9 6 8.8 28 41.2 32 47.1 3.32 Regular dividend declaring firms have more shareholders and their share value is high. 0 0 7 10.3 7 10.3 54 79.4 3.69 I value my shares at NBK because of the regular dividend payments I receive 26 38.2 28 41.2 0 0 14 20.6 2.03 The results further revealed that majority of the respondents (79%) disagreed with the contention that they valued their shares because of the regularity of dividend declaration with a mean score of 2.03 out of a maximum of 5. In general, three out of the four attributes measuring the effect of regularity of dividend payments on share value received high mean scores of over 3 out of 5; implying that regularity of dividend payments is positively related to share price. It follows thereof that when dividends are not regular, the share value drops and vice versa. The study tested a hypothesis which stated that regularity of dividend declaration does not significantly affect the market value of National Bank of Kenya shares using Pearsons Moment Correlation. As shown in Table 7, the study established a positive correlation of 0.502 with P-value of 0.000, less than the alpha of 0.01; hence demonstrating a high and significant relationship between the two variables. Therefore, regularity of dividend declaration has a significant effect on market value of shares. The results agrees with Pettit (1972) observations that announcements of dividend increases are followed by significant price increases and that announcements of dividend decreases are followed by significant price drops. Table 7: Correlation Analysis on Regularity of Dividend Declaration and Market Share Value Regularity of dividend declaration Market value of NBK shares Regularity of dividend declaration Pearson Correlation 1 0.502(**) Sig. (2-tailed) . 0.000 N 68 68 Market value of NBK shares Pearson Correlation 0.502(**) 1 Sig. (2-tailed) 0.000 . N 68 68 ** Correlation is significant at the 0.01 level (2-tailed). When asked to rate the level of market share value (Figure 1), 3% rated the value as very low, 57% rated it low, with 36% rating the value as high and 4% as very high. This shows that majority (60%) of the shareholders considered the market value of the shares as low. Figure 1: Level of market share value Model Testing The model had hypothesized that regularity of dividend declaration, dividend growth rate and dividend payouts were responsible for variation in the market share value. To test this model multiple regression was run with market share value as the dependent variable and regularity of dividend declaration, dividend growth rate and dividend payouts as the independent variables. According to the study results in Table 8, the three independent variables account for 68% (R Square, 0.679) of the variations in market share value. Table 8: Regression Model Summary Model R R Square Adjusted R Square Std. Error of the Estimate 1 .824(a) .679 .664 .530 Predictors: (Constant), regularity of dividend declaration, dividend growth rate and dividend payouts. The study conducted ANOVA to test determine whether the model works. As shown in Table 9, the F value was 45.110 at significance level of 0.00. Since the significance level (0.00) was far much less than the alpha level 0.05, it implies that the three independent variables (dividend payout, dividend growth rate and regularity of dividend declaration) contributed significantly to variations in the dependent variable (market share value). Table 9: ANOVA Results Model Sum of Squares df Mean Square F Sig. 1 Regression 38.060 3 12.687 45.110 .000(a) Residual 17.999 64 .281 Total 56.059 67 a. Predictors: (Constant): regularity of dividend declaration, dividend growth rate and dividend payouts; b. Dependent Variable: market value of NBK shares Regression analysis was conducted to determine the effects of dividend payout, dividend growth rate and regularity of dividend declaration on market share value. The study established that an increase in regularity of dividend payout, dividend growth rate and regularity of dividend declaration by one unit would increase market value of NBK shares by 0.615, 0.393 and 0.217 respectively. This implies that all the three independent variables significantly affect market share value, though dividend payout is more significant than the other two variables. Table 10: Regression Coefficient Model Un standardized Coefficients Standardized Coefficients t Sig. B Std. Error Beta (Constant) .463 .239 1.939 .057 Dividend payout .615 .075 .758 8.161 .000 Dividend growth rate .393 .130 .218 3.015 .004 Regularity of dividend declaration .217 .057 .223 3.793 .000 a. Dependent Variable: market value of NBK shares Conclusions It is palpable that National Bank of Kenya had a dividend policy, which has been and continues to be important factor driving NBK share value. However, it was not well understood by the most of the shareholders. The NBK shareholders considered payment of dividends is as major element in the value of shares as it demonstrated that that the firm is strong enough and can pass up profitable investments. It is also evident that that an increase in a dividend payout causes an increase in share price. It is also clear from the results that dividend payments have been experiencing declining over the last five years. Although, maintenance of steady and growing dividend payments has been confirmed to increase the firms share value, adjusting dividend payments towards a target payout ratio will also increase a firms share value. Consequently, steady growth in dividend payments makes the shareholders value their shares more. Regularity of dividend declaration was also viewed as a major element w ith regards to the value of shares as shareholders believed that regular dividend declaration caused an increase in share price. Based on the results, dividend payout, dividend growth rate and regularity of dividend declaration significantly influenced the market value of National Bank of Kenya shares. Recommendations Based on the findings, the study made the following recommendation; Dividend policy has proven to be of paramount importance with regards to the market share value and thus NBKs management should avail the policy to its shareholders. This grants them an opportunity to contribute to the improvement of the policy. NBK must adjust its dividend policy to improve the market value of its shares. For an optimal dividend policy to be achieved and maintained, the bank management should maintain regular dividend payment, and also pay a special dividend or initiate a share repurchase programme. Any changes in policy should be shared with the shareholders.

The Spanish American War :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  Most may think that the Spanish-American War was a war between the Americans and the Spanish. Most are right, but only to a point, because the Spanish-American War also included wars between the Americans and the Filipinos, as well as between the Americans and Puerto-Ricans. Reasons for these wars occurring are obvious to the history connoisseur, but to the normal individual, they may not be so distinct.   Ã‚  Ã‚  Ã‚  Ã‚  America has been a country of great power for years, and that power has come not only from years of hard work and fighting, but also from years of audacity. About one hundred fifty years ago, the United States began sending armed forces to foreign countries in an effort to attain each individual country’s opulent resources. This commanding attitude taken by the United States government spread into the American people as well, with corporate giants such as Rockefeller and Morgan, who controlled large parts of American business with monopolies over the railroads and oil industry. Events such as the Spanish﷓American War and interference in the Philippines marked the indisputable beginning of American imperialism. Invasions such as these propelled United States capitalist expansion and produced the ideas of economic expansion in government as well as in homes.   Ã‚  Ã‚  Ã‚  Ã‚  The Philippines played a larger part in the Spanish-American War than most may like to believe. The Philippine-American War as it could be called is forgotten to most everyone in all of United States Military history. The events that occurred in the Philippines could be mildly compared to the events that occurred nearly seventy years later in Vietnam. The reasons for the war occurring at all are directly related to the Filipino’s attempts to gain independence from Spain. Lead by Emilio Aguinaldo, the Filipino people fought for one year for independence from Spain with a shortage of weapons, ammunition and food. A treaty with the Spanish Authorities was forced in 1897, and Aguinaldo and his government were forced into exile with payment of four hundred thousand pesos. American Consuls residing in many Asian countries, as well as Hong Kong, where Aguinaldo was exiled to, agreed with Aguinaldo to give the Philippines independence, as long as they helped the Un ited States defeat the Spanish. Commodore George Dewey of the United States Navy was to lead Aguinaldo back to the Philippines. He only brought Aguinaldo back to Luzon, the northern-most island of the Philippines. Dewey continued to refuse to support Aguinaldo now though, and Aguinaldo once again controlled the Philippines, which was still under attack by Spanish forces.

Hamlet - Shakespeares Ophelia as Modern Icon Essay -- Hamlet essays

Hamlet - Shakespeare's Ophelia as Modern Icon Shakespeare's Ophelia is not lacking in attention. As one of Shakespeare's most popular female characters she has enjoyed many appellations from the bard. '"Fair Ophelia." "Most beautified Ophelia." "Pretty Ophelia." "Sweet Ophelia." "Dear Ophelia." "Beautiful Ophelia†¦sweet maid†¦poor wretch." "Poor Ophelia."' (Vest 1) All of these names for Ophelia can be found in Shakespeare's The Tragedy of Hamlet, Prince of Denmark. Since Shakespeare's incarnation of Ophelia many have felt the need to offer their opinions of Ophelia as a character. '"Poor wispy Ophelia." "Devastated and emotionally exhausted Ophelia." "Pensive, fair-haired, blue-eyed daughter of the north." "Ophelia the young, the beauteous, the harmless, the pious." "Clumsy Ophelia†¦open-hearted but light-brained†¦incapable either of understanding or of curing." "A weak creature, wanting in truthfulness, in purpose, in force of character, and only interesting when she loses the little wits she had."' (Vest 1 ) These are only a few of the hundreds. For a character that only appears in five of the 20 scenes in Hamlet, Ophelia has garnered a great deal of attention from analysts, critics, artists, actresses, fiction writers, psychologists, and adolescent girls alike. Readers are consistently struck by her character that seems relatively insignificant in the grand scheme of things. Ophelia is many times viewed as only important in relation to Hamlet and the effect she has on him. Ophelia is not just important in this respect, but also in respect to what she tells us about the society she came out of and the society we live in today. First analyzing Shakespeare and his precursors then concentrating on the modern day prominence of ... ...s Write About Their Search For Self. New York: Harper Collins, 1999. Vest, James M. The French Face of Ophelia from Belleforest to Baudelaire. Lanham: University Press of America, 1989. Appendix 1 "Ophelia's Legs (Voyeur in a Small Town)" From Dead Snakes, Cats and the IRS, Poetry of Rock and Rebellion I watch eyes thinking of an old free man's story, seeing slanted gilts of light cat-backed mountains bristling in the distance there is an Ophelia's legs softer than blood in the trail she's unfolded toward crossed by dove's flight and spider tip-toeing- the angle determines what will notice- each's earth fingers reach through as quietly as they must be found. I see this woman, her lovers, some have been mine. The days damn here, filigreed as hair or knowing -Theresa Courtney Gillespie

Young Goodman Brown :: essays research papers

In 'Young Goodman Brown,'; Hawthorne makes the reader believe that Goodman Brown has learned that truth about the world and how evil it really is. In the story the accounts of Goodman Brown let you believe that he has truly seen the evil in the world and knows what lurks behind everybody masks. He makes you realize that even though the person may look holy and religious that evilness is all around us and most people will never ever find out the truth. The character Young Goodman Brown written by Nathaniel Hawthorne finds many issues of evil concerning the town's people in which he lives, about himself, and the reality behind the evil.   Ã‚  Ã‚  Ã‚  Ã‚  In the story 'Young Goodman Brown'; Goodman Brown learns about evil in the towns people and how what he thought was the truth is really not. When Goodman Brown starts his voyage he knew what he was going in the woods to do, what he didn't realize is that the same reason he went to the woods was the same reason as the towns people. When Goodman encounters Goody Cloyse in the woods he is shocked that he sees her out there 'A marvel, truly, that Goody Cloyse should be so far in the wilderness at night fall.';(Hawthorne 98) When he learns of her travels and of how she is acquainted with the old man he is in disbelieve that a women that taught him religion is evil. When Goody asks the old man for a hand to take her to a communion he offers her cane and throws it down when it hits the ground it turns alive and Goody Close disappears. Leading you to believe that she is just an imagination to get Brown to believe in the evil. Goodman Brown also sees other town's members i n the woods such as highly respected people such as Deacon Gookin, and even his wife Faith. When Brown learns of Faith participating in this gathering in the woods he is distraught he loses his mind and goes crazy. Goodman brown learns valuable lessons in the woods about his town and the people and about the world. His journey changed the way he looked at things when he awoke from that night his feelings towards the people changed he believed that everybody is evil.   Ã‚  Ã‚  Ã‚  Ã‚  Goodman Brown learns many things about himself when he takes that journey into the woods, among many if his faith.

Effect of cashless police in nigeria Essay

Vol. 1 (2), pp. 040-043, April 2013. Research Article Impact of Cashless Economy in Nigeria *Omotunde Muyiwa1, Sunday Tunmibi,1 and John-Dewole A.T.2 1 School of Computer Science, Mathematics and Information Technology, Houdegbe North American University, Republic of Benin. 2 Department of Computer Science with Electronics, Faculty of Information Technology and Applied Sciences Lead City University, Ibadan. Nigeria. *Corresponding Author’s email: folatunde2004@yahoo.com ABSTRACT This paper studied the impact of cashless policy in Nigeria. The policy was introduced by Central Bank of Nigeria (CBN) in December 2011 and was kick-started in Lagos in January 2012. Survey research was adopted with questionnaire as data collection instrument. Responses from the respondents show that cashless policy will increase employment; reduce cash related robbery thereby reducing risk of carrying cash; cashless policy will also reduce cash related corruption and attract more foreign investors to the country. The study, therefore, shows that the introduction of cashless economy in Nigeria can be seen as a step in the right direction. It is  expected that its impact will be felt in modernization of Nigeria payment system, reduction in the cost of banking services, reduction in high security and safety risks and also curb banking related corruptions. Keywords: Cashless economy, Cashless policy, Lagos State, Nigeria. INTRODUCTION Cashless economy is an economy where transaction can be done without necessarily carrying physical cash as a means of exchange of transaction but rather with the use of credit or debit card payment for goods and services. The cashless economy policy initiative of the Central Bank of Nigeria (CBN) is a move to improve the financial terrain but in the long run sustainability of the policy will be a function of endorsement and compliance by end-users (Ejiro, 2012). The CBN cash policy stipulates a daily cumulative limit of N150, 000 and N1, 000,000 on free cash withdrawals and lodgments by individual and corporate customers respectively in the Lagos State with effect from March 30, 2012. Individuals and corporate organizations that make cash transactions above the limits will be charged a service fee for amounts above the cumulative limits. Furthermore, 3rd party cheques above N150, 000 shall not be eligible for encashment over the counter with effect from January 1, 2012. Value for such cheques shall be received through the clearing house. All Nigerian banks were expected to cease cash in transit lodgment services rendered to merchant-customers from January 1, 2012. The policy through the advanced use of information technology facilitates fund transfer, thereby reducing time wasted in Bank(s). Wizzit, a fast growing mobile banking company in South Africa has over three hundred thousand customers across South Africa. Likewise, M-PESA was introduced in Kenya as a small value electronic system that is accessible from ordinary mobile phones. It has experienced exceptional growth since its introduction by mobile phone operator (Safaricom) in Kenya in March, 2007 and has already been adopted by nine million customers, which is about 40% of Kenya’s adult population. Wizzit and other mobile financial services including MPESA in Kenya are helping low income Africans make financial transaction across long  distance with their cellphones, thereby reducing their travel cost and eliminating the risks of carrying cash and also avoiding most banking charges (Akintaro, 2012). It is assumed that the proper implementation of mobile phones and other technologies can aid the implementation of cashless policy and hence, the growth of cashless economy in Nigeria. The introduction of the implementation of cashless policy (policy is program of actions adopted by government) began in Lagos State, Nigeria. Why Lagos? According to Central Bank of Nigeria (CBN, 2011) Lagos state accounted for 85% of POS and 66% of cheques transaction in Nigeria. Cashless economy aims at reducing the amount of physical cash circulating in the Nigeria economy and thereby encouraging more electronic–based transaction. According to Central Bank of Nigeria (CBN, 2011) the policy is expected to reduce cost incurred in maintaining cash-based economy by 90% upon its full implementation in Nigeria. This study aims to look at the impact of cashless economy in Nigeria. www.gjournals.org 40 Greener Journal of Internet, Information and Communication Systems Vol. 1 (2), pp. 040-043, April 2013. 2. BRIEF LITERATURE REVIEW Cashless economy is not the complete absence of cash, it is an economic setting in which goods and services are bought and paid for through electronic media. According to Woodford (2003), Cashless economy is defined as one in which there are assumed to be no transactions frictions that can be reduced through the use of money balances, and that accordingly provide a reason for holding such balances even when they earn rate of return. In a cashless economy, how much cash in your wallet is practically irrelevant. You can pay for your purchases by any one of a plethora of credit cards or bank transfer (Roth, 2010). (2004) observed that developed countries of the world, to a large extent, are moving away from paper payment instruments toward electronic ones, especially payment cards. Some aspects of the functioning of the cashless economy are enhanced by e-finance, e-money, e-brokering and e-exchanges. These all refer to how transactions and payments are effected in a cashless economy (Moses-Ashike, 2011). Marco and Bandiera (2004) argue that increased usage of cashless banking instruments strengthens monetary policy effectiveness and that the current level of e-money usage does not pose a threat to the stability of the financial system. However, it does conclude that central banks can lose control over monetary policy if the government does not run a responsible fiscal policy. Echekoba and Ezu (2012), in a research carried out in Nigeria, observed that 68.2% of the respondent complained about long queues in the bank, 28.9% complained of bad attitude of teller officers (cashiers) while 2.89% complained of long distance of bank locations to their home or work places. Likewise, in her 24th NCS national conference in December 2011, CBN data shows that 51% of withdrawal done in Nigeria was through automated teller machine (ATM), while 33.6% was through over the counter (OTC) cash withdrawals and 13.6% through Cheques. Payment was also done through point of sales machine (POS) which accounted for 0.5% and web 1.3%. Therefore, if the introduction of ATM in Nigeria cash withdrawals system reduced OTC withdrawal; then it will implies that introduction of cashless policy supported by application of information technology can achieve more to reduce over dependent on cash payment in Nigeria economy system. However, Akhalumeh and Ohioka (2011) observed some challenges with the introduction of cashless policy. Their findings show that 34.0% of the respondents cited problem of internet fraud, 15.5% cited problem of limited POS/ATM, 19.6% cited problem of illiteracy and 30.9% stayed neutral – the respondent not been sure of problem been expected or experienced. While in some quarters there was fear of unemployment, some believe it will create more jobs especially when companies manufacturing POS machine are cited in Nigeria. More so, data sourced from Central Bank of Nigeria portal shows that Lagos state, with a population of 17 million people, only has sixty one  Point Of Sales, twenty bank branches and twenty four ATMs per 100,000 people which are far less to satisfy the needs of the population. These data verify the claim of Echekoba and Ezu (2012) on the problem of cash based economy and cashless policy in Nigeria. For effective cashless implementation in Nigeria availability of sufficient and well-functioning infrastructure (notably electricity), harmonization of fiscal and monetary policy, regular assessment of the performance of cashless banking channels, consideration of the present state and structure of the economy, redesign of monetary policy framework and greater efforts towards economic growth whilst managing inflation should be considered (Odior and Banuso, 2012). 3. RESEARCH METHODOLOGY This study was carried out, using accidental sampling method, in Lagos state, Nigeria. A total of 500 traders, students and civil servants were sampled. Questionnaire was used as data collection instrument, with questions on demographics and benefits of cashless economy in Nigeria. The major statistical technique used was descriptive (use of frequency tables and charts). 4. RESULT 4.1 Demographics responses on gender show that male respondents accounted for 55.6% while the female respondents are 44.4%. Figure 1 and Figure 2 presents the responses on age and occupation, respectively. For age, majority of the respondents are between 18 to 25 years, this is followed by those between 26 to 40 years while the least number are between 41 to 60 years. For occupation of the respondents, the highest percentage (44.4%) is traders, followed by students (33.3%) and civil servants (22.2%). www.gjournals.org 41 Vol. 1 (2), pp. 040-043, April 2013. Greener Journal of Internet, Information and Communication Systems 41-60 years 22% 18-25 years 45% 26-40 years 33% Figure 1: Age of Respondents 45 40 35 30 25 20 15 10 5 0 Traders Students Civil servants Figure 2: Occupation of Respondents 4.2 Benefits Table 1 shows the view of respondents on benefits of cashless economy in Nigeria. The lowest percentage, 11.1% of the respondents, believed that cashless policy will increase employment. A higher percentage, 22.2% of the respondents, believed that cashless policy in Nigeria will reduce cash  related robbery thereby reducing risk of carrying cash. The highest percentage of the respondents believed that cashless policy will reduce cash related corruption (33.3%) and cashless policy will attract more foreign investors to the country (33.3%). Table 1: Benefits of Cashless Economy in Nigeria Benefits of Cashless Economy Increase employment Reduce cash related robbery Reduce cash related corruption Attract more foreign investment Total Percentage (%) 11.1% 22.2% 33.3% 33.3% 100% www.gjournals.org 42 Greener Journal of Internet, Information and Communication Systems Vol. 1 (2), pp. 040-043, April 2013. 5. CONCLUSION The study, impact of cashless economy in Nigeria, focused on the three major categories by which Nigerians can be divided – traders, students and civil servants. More number of traders was sampled, compared to students and civil servants, because they are more into business and financial transactions. More so, a higher number of respondents within the age bracket of 18 and 25 years show that apart from students, quite a number of Nigerian youth are  also into trade. This study shows that the introduction of cashless economy in Nigeria can be seen as a step in the right direction. It is expected that its impact will be felt in modernization of Nigeria payment system, reduction in the cost of banking services as well as reduction in high security and safety risks. This should also include curbing banking related corruptions and fostering transparency. It is also assumed that the introduction of cashless policy in Nigeria will help to reduce the amount of bills and notes circulating in the economy. This should, therefore, reduce handling operation cost incurred on conventional money, as well as reduction in cash related crimes. It should also help to provide easy access to banking services for Nigerians. REFERENCES Akhalumeh, P.B., and Ohiokha, F. (2011): Nigeria’s Cashless Economy; The Imperatives. International Journal of Management & Business Studies. vol.2 pp. 12 – 17. Akintaro, S. (2012): Going Cashless. IT & Telecom digest, online magazine, august,2012 CENTRAL BANK OF NIGERIA (2011): Towards a Cashless Nigeria: Tools & Strategies. Nigerian Journal of Economy. 3(2), 344 – 350. Echekoba, F.N., and Ezu, G.K. (2012): Electronic Retail Payment Systems: User Acceptability & Payment Problems in Nigeria. Arabian Journal of Business & Management Review. vol.5, pp. 60 – 63. Ejiro, O. (2012): What Nigerians Think of the Cashless Economy Policy. Nigerian Journal of Economy. 4(6), 97 – 102. Humphrey, D. B. (2004): ―Replacement of cash by cards in U.S. Consumer Payments, Journal of Economics and Business, 56, 211–225. Marco, A. and L. 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