Timeline of the Mau Mau Rebellion in Kenya

The Mau Mau Rebellion was a militant African nationalist movement active in Kenya during the 1950s. Its primary goal was the overthrowing British rule and removing European settlers from the country.  The uprising grew out of anger over British colonial policies, but much of the fighting was between the Kikuyu people, the largest ethnic group in Kenya, making up about 20% of the population.   Inciting Incidents The four main causes of the revolt were:Low wagesAccess to landFemale genital mutilation (FGM)Kipande: identity cards that black workers had to submit to their white employers, who sometimes refused to return them or even destroyed the cards, making it incredibly difficult for workers to apply for other employmentKikuyu were pressured to take the Mau Mau oath by militant nationalists who were opposed by the conservative elements of their society. While the British believed Jomo Kenyatta to be the overall leader, he was a moderate nationalist threatened by more militant nationalists, who continued the rebellion after his arrest. 1951 August: Mau Mau Secret Society Rumored Information was filtering in about secret meetings held in the forests outside Nairobi. A secret society called the Mau Mau was believed to have started in the previous year which required its members to take an oath to drive the white man from Kenya. Intelligence suggested that members of the Mau Mau were restricted at the time to the Kikuyu tribe, many of whom were arrested during burglaries in Nairobis white suburbs. 1952 August 24: Curfew Imposed The Kenyan government imposed a curfew in three districts on the outskirts of Nairobi where gangs of arsonists, believed to be members of the Mau Mau, were setting fire to the homes of Africans who refused to take the oath. October 7: Assassination Senior Chief Waruhiu was assassinated, stabbed to death by a spear in broad daylight on a main road on the outskirts of Nairobi. He had recently spoken out against increasing Mau Mau aggression against colonial rule. October 19: The British Send Troops The British government announced that it would send troops to Kenya to help the fight against the Mau Mau. October 21: State of Emergency With the imminent arrival of British troops, the Kenyan government declared a state of emergency following a month of increasing hostility. More than 40 people were murdered in Nairobi during the preceding four weeks and the Mau Mau, officially declared terrorists, acquired firearms to use alongside more traditional pangas. As part of the overall clampdown, Kenyatta, President of the Kenya African Union, was arrested for alleged Mau Mau involvement. October 30: Arrests of Mau Mau Activists British troops were involved in the arrest of over 500 suspected Mau Mau activists. November 14: Schools Closed Thirtyfour schools in Kikuyu tribal areas are closed as a measure to restrict the actions of Mau Mau activists. November 18: Kenyatta Arrested Kenyatta, the countrys leading nationalist leader, was charged with managing the Mau Mau terrorist society in Kenya. He was flown to a remote district station, Kapenguria, which reportedly had no telephone or rail communications with the rest of Kenya, and was held there incommunicado. November 25: Open Rebellion The Mau Mau declared open rebellion against British rule in Kenya. In response, British forces arrested over 2000 Kikuyu who they suspect of being Mau Mau members. 1953 January 18: Death Penalty for Administering Mau Mau Oath Governor-general Sir Evelyn Baring imposed the death penalty for anyone who administers the Mau Mau oath. The oath would often be forced upon a Kikuyu tribesman at knife point,  and his death was called for if he failed to kill a European farmer when ordered. January 26: White Settlers Panic and Take Action Panic spread through the Europeans in Kenya after the slaying of a white settler farmer and his family. Settler groups, displeased with the governments response to the increasing Mau Mau threat, created Commando Units to deal with it. Baring announced a new offensive under the command of Major-General William Hinde. Amongst those speaking out against the Mau Mau threat and the governments inaction was Elspeth Huxley, who compared Kenyatta to Hitler in a recent newspaper article (and would author The Flame Trees of Thika in 1959). April 1: British Troops Kill Mau Maus in Highlands British troops kill 24 Mau Mau suspects and capture an additional 36 during deployments in the Kenyan highlands. April 8: Kenyatta Sentenced Kenyatta is sentenced to seven years hard labor along with five other Kikuyu detained at Kapenguria. April 10-17: 1000 Arrested An additional 1000 Mau Mau suspects were arrested around the capital Nairobi. May 3: Murders Nineteen Kikuyu members of the Home Guard were murdered by the Mau Mau. May 29: Kikuyu Cordoned Off Kikuyu tribal lands were ordered to be cordoned off from the rest of Kenya to prevent Mau Mau activists from circulating to other areas. July: Mau Mau Suspects Killed Another 100 Mau Mau suspects were killed during British patrols in Kikuyu tribal lands. 1954 January 15: Mau Mau Leader Captured General China, the second in command of the Mau Maus military efforts, was wounded and captured by British troops. March 9: More Mau Mau Leaders Captured Two more Mau Mau leaders were secured: General Katanga was captured and General Tanganyika surrendered to British authority. March: British Plan The great British plan to end the Mau Mau Rebellion in Kenya was presented to the countrys legislature. General China, captured in January, was to write to the other terrorist leaders and suggest that nothing further could be gained from the conflict and that they should surrender to British troops waiting in the Aberdare foothills. April 11: Failure of the Plan British authorities in Kenya admitted that the General China operation legislature failed. April 24: 40,000 Arrested Over 40,000 Kikuyu tribesmen were arrested by British forces, including 5000 Imperial troops and 1000 Policemen, during widespread, coordinated dawn raids. May 26: Treetops Hotel Burned The Treetops Hotel, where  Princess Elizabeth  and her husband were staying when they heard of King George VIs death and her succession to the throne of England, was burnt down by Mau Mau activists. 1955 January 18: Amnesty Offered Baring offered an amnesty to Mau Mau activists if they would surrender. They would still face imprisonment but wouldnt suffer the death penalty for their crimes. European settlers were up in arms at the leniency of the offer. April 21: Murders Continue Unmoved by the Barings amnesty offer, the Mau Mau killings continued with two English schoolboys killed. June 10: Amnesty Withdrawn Britain withdrew the offer of amnesty to the Mau Mau. June 24: Death Sentences With the amnesty withdrawn, British authorities in Kenya proceeded with the death sentence for nine Mau Mau activists implicated in the deaths of the two schoolboys. October: Death Toll Official reports said that more than 70,000 Kikuyu tribesmen suspected of Mau Mau membership were imprisoned, while over 13,000 people were killed by British troops and Mau Mau activists over the previous three years. 1956 January 7: Death Toll The official death toll for Mau Mau activists killed by British forces in Kenya since 1952 was said to be 10,173. February 5: Activists Escape Nine Mau Mau activists escaped from  Mageta  island prison camp in Lake Victoria. 1959 July: British Opposition Attacks The deaths of 11 Mau Mau activists held at Hola Camp in Kenya were cited as part of opposition attacks on the U.K. government over its role in Africa. November 10: State of Emergency Ends The state of emergency ended in Kenya. 1960 January 18: Kenyan Constitutional Conference Boycotted The Kenyan Constitutional Conference in London was boycotted by African nationalist leaders. April 18: Kenyatta Released In return for Kenyattas release, African nationalist leaders agreed to take a role in Kenyas government. 1963 December 12 Kenya became independent seven years after the collapse of the uprising. Legacy and Aftermath Many argue that the Mau Mau uprising helped catalyze decolonization as it showed that colonial control could only be maintained through the use of extreme force. The moral and financial cost of colonization was a growing issue with British voters, and the Mau Mau revolt brought those issues to a head. However, the fighting between Kikuyu communities made their legacy contentious within Kenya. The colonial legislation outlawing the Mau Mau defined them as terrorists, a designation that remained in place until 2003, when the Kenyan government revoked the law. The government has since established monuments celebrating Mau Mau rebels as national heroes. In 2013, the British government formally apologized for the brutal tactics it used to suppress the uprising and agreed to pay approximately  £20 million in compensation to surviving victims of abuse.

Kill A Mockingbird By Harper Lee - 1077 Words

In the novel of To Kill a Mockingbird, we learn about the Finch family and also a few other characters that all play pivotal roles in how the story plays out. Scout, the main protagonist in the story, learns about a character named â€Å"Boo† Radley from her friend Dill. Scout, Dill, and her brother Jem set out to lure Boo Radley out of hiding and into the open. All of the rumors consisted of grotesque descriptions describing the facial features of Boo. They were trying to get the monster out of the dark. Through the time they are investigating Boo, they find that Boo has been leaving them presents in a hole in a tree on Boo Radley’s property. The children get a little out of hand when they begin to act out the story of Boo Radley. Atticus†¦show more content†¦Scout changes substantially during the story. Scout loses her innocence and becomes more outgoing and she becomes more empathetic to the world around her. By the end, Scout Finch will have matured beyond all expectations. Will she truly forgive others for their actions, or will she continue to hold grudges over the people around her? The innocence of a child can only be kept for so long, until eventually, the child begins making mistakes and learning from their own experiences. Parents are truly here for guidance until we can walk on our own two feet. Scout Finch makes her own experiences at a very young age. At the start of the novel Scout says from the get-go that she is almost 6 years old. Scout begins telling the story of how their friend Dill came and played with her and her brother, Jem, that summer. Dill throws them into a whirlwind of new ideas and stories. Eventually Dill convinces Scout and Jem to attempt to convince their neighborhood recluse to come out of hiding. Scout learns from the experiences with Boo Radley and even becomes friends with people she never dreamed of being friends with. Scout’s experiences with Dill, Boo, and her father, Atticus, allow her to learn to trust others and not judge a book by its cover. Why do we feel sorry for others even when it is not our fault? It comes from our inner belief that they don’t deserve it and it otherwise leads us to question the circumstances of others. We begin to feel empathy for someone because we

The Crucible Free Essays

string(65) " use one of the following details to support their responses: a\." The Crucible Act Four Questions Short Response Answer the following questions based on your knowledge of the drama. Write a response on a separate sheet of paper. 1. We will write a custom essay sample on The Crucible or any similar topic only for you Order Now Where does Tituba think that the Devil is going to take her? 2. Give one example of how Abigail shows her dishonesty in this act. 3. What effect do the trials have on Salem? Use three details from the drama to support your answer. 4. When first arrives at the Salem jail, Danforth complains, â€Å"There is a prodigious stench in this place. How might this line be read to mean something besides a comment on the smell? 5. How is Giles Corey’s character reflected in his death? Use one detail from the drama to support your response. 6. What qualities does Proctor find within himself that prevent him from at last saving himself and signing the confession? Use details from the text to support your response. 7. Explain how Proctor is right or wrong for refusing to sign the confession. Use details to support your response. 8. A tragic hero’s fate, according to Aristotle, inspires pity and horror. Name the tragic hero in The Crucible, and describe how his or her fate inspires both pity and horror. 9. People accused of being Communists had a difficult time getting jobs; some even moved out of the United States in order to try to resume normal lives. How is Proctor’s situation like that of the people accused of Communist activities? 10. Based on the conversation involving Tituba, Sarah Good, and Herrick at the beginning of Act IV of The Crucible, what obsession of the day is weighing heavily on these characters? 11. In Act IV of The Crucible, Cheever comments on the â€Å"many cows wanderin’ the highroads, now their masters are in jail and much disagreement who they will belong to now. † What does the report of wandering cows symbolize about the effects of the witch trails on the society of Salem? 12. In Act IV of The Crucible, Parris complains to Danforth about the disappearance of Abigail and her apparent theft of his savings, as well as about the signs of growing discontent in the community over the wave of executions. Why does Danforth respond to him with contempt? 13. In Act IV of The Crucible, what does Danforth’s determination to proceed immediately with the executions symbolize about the nature the legal system? Explain your answer. 14. In Act IV of The Crucible, there are reports that the people of Andover have refused to cooperate with the witchcraft court there. What can the reader infer about the citizens of Andover from these reports? 15. In Act IV of The Crucible, it is evident that Elizabeth Proctor has changed during her imprisonment. How has she changed? Explain your answer, citing details from the text to support your answer. 6. In The Crucible, the line between religious and governmental authority is easily blurred and sometimes nonexistent. How is the relationship between church and state different in the present-day United States from the way it was at the time of The Crucible? 17. In Act IV of The Crucible, John Proctor anguishes over having his signed confession made public. In what respect is Proctor’s determinatio n to preserve his good name, and his resulting tragic downfall, an echo of the McCarthy era of the 1950s? 18. One definition of the word crucible is â€Å"a severe test. Use the chart below to identify the key way in which each of the listed characters is tested by the events of The Crucible. Then, in the right-hand column, indicate whether that character passed or failed the â€Å"test. † 19. Thinking About the Essential Question: How does literature shape or reflect society? A classic theme of literature in general—and of The Crucible in particular—is the conflict that can arise between a person’s individual ideals and principles on the one hand and the expectations of society on the other. Discuss this theme as it applies to two major characters in The Crucible. Support your answer with details from the play. The Crucible Act Four Questions Answer Section 1. ANS: Tituba says that the Devil is going to take her to Barbados where he is the â€Å"pleasureman† and there is no Hell (lines 30–32). PTS:10 2. ANS: Responses will vary. Students may use one of he following details to show Abigail’s dishonesty in this act: a. She has disappeared with Mercy Lewis, perhaps on a ship (lines 142–160). b. She has stolen Parris’s money from his strongbox (lines 161–165). PTS:10 3. ANS: Responses will vary. Students may say that the trials have negatively affected Salem because the trials themselves have raised suspicion, families are being torn apart, work is not getting done, and people are turning on each other over property. Students may use three of the following details to support their responses: a. Cheever explains that cows wander around town because their owners are in jail (lines 108–112 and 298–299). b. Townspeople fight over who now owns the cows (lines 108–112). c. Parris fears that the people in Salem will riot because many people being hanged have not confessed to guilt. Their friends and neighbors know them as good people, so they think that innocent people are being hanged (lines 190–194 and 203–210). d. Children who are now orphans because their parents have been executed or put in jail wander the town looking for food and shelter (lines 297–298). e. Crops are not harvested because the farmers are in jail or dead (lines 299–300). f. People are afraid because they do not know if or when they will be accused next (lines 300–301). PTS:20 4. ANS: Students should say that the â€Å"stench† represents the rotten treatment the innocent people of Salem have experienced at the hands of a court that thinks itself just PTS:10 5. ANS: Responses will vary. Students should say that Giles’s intelligence and stubbornness as well as his faith are reflected in his death. Students may use one of the following details to support their responses: a. You read "The Crucible" in category "Essay examples" He showed stubbornness when he stood mute to the indictment (line 447). b. He showed intelligence and faith when he died â€Å"Christian under the law† (line 450). c. Because he did not answer the indictment, his sons inherited his property (lines 450– 453). By allowing his sons to inherit his land, Giles illustrated intelligence. d. When they pressed him with stones, he only said, â€Å"More weight† (lines 457–460). Giles’ lack of fear shows his stubbornness. PTS:10 6. ANS: [B-Test] Responses will vary. Students may say that in spite of Proctor believing he is no saint, the examples of Elizabeth and Rebecca Nurse force him to look at himself as less than a saint. However, when he must tarnish his own name and abandon his friends, he finds the strength and goodness to refuse their demands. He finally sees himself as having some good. Students may use the following details to support their responses: a. He finds honesty when he says he cannot die like a saint (lines 479–485). b. He says it is a fraud for him to go like a saint like the others (lines 543–549). c. He says that if his action is evil, it is appropriate for him to confess his guilt (lines 555–559). d. He finally signs his name because he feels he is not good enough to die with the others but refuses to condemn his friends (lines 674–719). e. Proctor is too honest to accuse anyone else of witchcraft (lines 653–655). f. He finds strength when he says he has given Danforth his soul but will not give the court his name (lines 725–730). g. He tears up his confession, finally sees goodness in himself, and is ready to face death (lines 745–761). PTS:20 7. ANS: [C-Test] Responses will vary. Some students may say that Proctor is right to refuse to sign the confession because it is a lie and it may condemn others. Students who support Proctor’s decision may use the following details to support their responses: a. He knows that confessing to witchcraft is confessing to a lie (lines 488–489) and he does not want to give in to the evil men who force him to choose. b. Danforth tries to force Proctor to name other people as having pacts with the Devil, but Proctor knows that he cannot condemn his friends or other innocent people (lines 637– 638). . He refuses to let Danforth and the others use him as an example in the village (lines 699–701). Other students may say that Proctor is wrong to refuse to sign the confession because he gives up his life and possibly ruins the lives of his family members in return. Students who do not support Proctor’s decision may use the following details to support the ir responses: a. His wife Elizabeth is pregnant and needs his help with another child (lines 272–273), especially as she may still be executed after she delivers the child that she is carrying. b. He is leaving behind children who cannot take care of themselves, especially because his wife is in jail (lines 419–421). c. He only seems worried about his pride. He lets pride stop him from going all the way and signing the confession, explaining that he cannot face his children if he turns his friends in, though it would be better if he was alive for his children (lines 688–689, 699–701, and 703–704). PTS:20 8. ANS: Answers will vary. Following is one possible answer: Mr. Proctor is a tragic hero. After Mr. Proctor’s indiscretion with Abigail, he refuses to yield to temptation again. He turns his attention to his wife and is faithful to her. When he is doomed, no matter what decision he makes, one can only pity him. Proctor is led by honorable principles and motives. When this innocent man dies protecting his and his family’s honor, the audience is horrified. PTS:21KEY:analyze | character | The Crucible, Act 4 9. ANS: Answers will vary. Following is one possible answer: During the height of the McCarthy era, many professionals, including numerous writers and entertainers, were refused work. Careers were shattered and talented people went without a livelihood. Like those innocents, Mr. Proctor seals his fate should he sign a false testimony. To discuss his confession is one thing; to see his name signed to lies is another. Would he be able to make a living? Would he have the trust of his community? His name, like the names of many of McCarthy’s victims, would evoke distrust and disgrace if he signed a false confession. PTS:20KEY:analyze | character | The Crucible, Act 4 10. ANS: All three of the characters speak of the Devil and/or Hell. PTS:1 11. ANS: The wandering cows symbolize the chaos and disintegration of the social order of Salem that has resulted from the witch trials. PTS:1 12. ANS: Danforth regards Parris as a selfish man, someone who is interested mainly in his own well-being and his own reputation. He sees that Parris is now wavering about the executions not because of any principle, but because there is evidence that there is dissatisfaction with the witch hunt in the town that could cost Parris his reputation and job. PTS:1 13. ANS: Danforth’s determination to proceed immediately with the executions symbolizes the imperfection of the machinery of the law. It shows that the legal system can sometimes enforce or perpetuate injustice. PTS:1 14. ANS: The reader can infer that the citizens of Andover are resisting the kind of hysteria that has befallen Salem. PTS:1 15. ANS: She has become less harsh in her judgment of others. Her final comment of the play exemplifies this change. PTS:1 16. ANS: Now the separation between church and state is much clearer and better defined than it was at the time of The Crucible. In fact, it is a basic part of the U. S. Constitution and legal system. PTS:1 17. ANS: During the McCarthy investigations of the 1950s, reputations and lives were ruined by people who â€Å"named names† or confessed to irresponsible allegations just to save themselves. PTS:1 18. ANS: Sample answers: Reverend Parris–whether he is true to the Christian ideals of his calling as a minister–fails, (because he promotes a hysteria of lying and death, and proves more concerned about his own welfare than the welfare of others). Reverend Hale–whether he is true to the Christian ideals of his calling as a minister–passes (because he struggles with his conscience and comes down on the side of truth and justice to resist the hysteria of the witch trials). Judge Danforth–whether he is an impartial and fair judge and enforcer of the law–passes and fails (shows a minimal amount of respect for proper legal procedure, but proves more interested in swift justice than finding out the truth and attaining true justice). Elizabeth Proctor–whether she will value the truth over her personal well-being—passes (because she refuses to admit to being a witch to save herself and with good intentions lies at the end to try to help her husband). John Proctor–whether he will risk his life to uphold true Christian ideals–passes (he refuses to admit to the false accusations against him; even though he wavers at the end, he triumphs by refusing to sign a public declaration, even though this act of conscience costs him his life). PTS:1 19. ANS: Students might note that John refuses to implicate others despite the intense pressures from the court to do so. Students may also say that he is ashamed of his actions earlier in the play and is trying make up for her earlier lack of moral courage. They might also note that Elizabeth resists pressure from Hale to try to persuade John to save his life by falsely confessing to the charges, for she realizes that standing for honor and conscience are too important to trade in at any price, even one’s life. Students might also note that the Reverend Hale is torn between his loyalty to the court and official religious doctrine and his understanding that many of the witchcraft accusations are unjust and based on lies—a conflict between loyalty to church/community and individual conscience. PTS:1 How to cite The Crucible, Essay examples The Crucible Free Essays â€Å"Try not to become a man of success but rather try to become a man of value. †-Albert Einstein Einstein’s thougts are also found in the play by Arthur Miller, The Crucible. In The Crucible, many characters are asked to compromise their integrity in exchange for their lives. We will write a custom essay sample on The Crucible or any similar topic only for you Order Now John Proctor was one such character, but he refused to give up his integrity. He wanted to die with a good name in the eyes of the other villiagers. Another of he main characters, Abigail Williams, displays a complete lack of integrity. She lies and cheats so that she can get exactly what she wants with no regard for the safety of the other characters. During the play, John Proctor, a farmer, is faced with a decision that would ultimately lead to his death. John Proctor displays his integrity in several tough situations throughout the play. Proctor is arrested on charges of witchcraft along with his wife, Elizabeth. The people that are arrested for witchcraft live if they confess, but hang if they deny the charges, even if the charges are not truthful. This plays an important part in the testing of John’s integrity later in the play. In the beginning, we find out that Proctor had an affair with the niece of the town reverend, Abigail Williams. This displays a lack of integrity for John, but nobody knows about it until later. John shows his integrity when he confesses to this affair later in the play. At the beginnig of the play, the Proctor’s want no part in the witch trials. They get dragged into the proceedings when Abigail accuses Elizabeth of hurting her with a voodoo doll. John has integegrity when he tries to save his wife from being hanged. He gets depositions from others in the town that show how good his wife was. He has Mary Warren, who was working in the Proctor house, confess that she was the one who made the doll and stuck the needle in it. This does not work though, and Mary turns on Proctor and gets him arrested. When Proctor is in jail, he shows his integrity once again. He knows that he has the opportunity to confess to witchcraft, and this will get him out of jail. He decides to do this after he talks with his wife, even though he knows his cofession would be a lie. He actually signs the confession, but he tears it up. The judge told him that they would hang his signed confession on the door of the church for all the people to see. Proctor couldn’t stand to see that all the people would think of him as such a bad person, so he tore up the confession. He says, â€Å"I have given you my soul, leave me my name! † Proctor also sees a lack of integrity in Reverend Parris, who he believes cares more about money than his duty to God. How to cite The Crucible, Papers The Crucible Free Essays â€Å"We the jury in the above entitled action, find the defendant, Orenthal James Simpson, not guilty of the crime of murder. † This famous quote was made during the famous court case of O. J. We will write a custom essay sample on The Crucible or any similar topic only for you Order Now Simpson vs. the State of California over the murder of two individuals. What made this case so famous was all the evidence the jury had that proved Simpson guilty, but was found not guilty in the end. The court, whether it be a single person or a jury, make mistakes daily. But sometimes they are not mistakes; they are acts of revenge or sympathy against that person being accused or, one of not knowing what else to do. This court room speculation is seen in Arthur Millers novel The Crucible and the film, Good Night and Good Luck. These two resources connect by a very similar plot line even thought one is factual and the other is based off of facts. The similarities and differences between main characters, John Proctor and Edward Murrow are seen by their human traits, actions they took and the results of those actions due to pressure by court cases. Edward Murrow and John Proctor are very similar by certain traits they carried while under court speculation and drama. Both men wanted to stand up for what they believed was right. They were honest men until the court and certain people wanted to take that away from them. John Proctor told the truth because unlike the court, he knew what he did and did not do. Proctor knew he was guilty of adultery but neither he nor his wife was involved in witchcraft which he was being accused of. Murrow did the exact same thing in his reporting of the McCarthy trials, he wanted people to get the truth. He would go to extraordinary lengths in reporting and drama with his company, CBS to tell the truth. One major difference in the traits of these two men was the amount of support they had. Edward Murrow was a household name that had viewers and coworkers behind him and supporting him even if their company disagreed. If Senator McCarthy verbally accused Murrow of certain Soviet actions, reporters would be right there to get evidence to clear his name. John Proctor had less of an advantage in this aspect. It was him against a town with only one woman behind him that was in jail herself. Elizabeth Proctor pushed for her husband even knowing of his affair and her being accused of witchcraft. These two men had similar traits but one key trait of support, which Proctor lacked, seemed to be a very important one in the end. Edward Murrow was reporting on falsely accused individuals while John Proctor was living it. The actions of these two men under the spotlight of accusations showed some similarities and difference between them. Both men tried to clear their name of the false accusations set before them. Murrow looked into the eyes of the camera and told America he was not involved in Soviet relations. Even the report made by Senator McCarthy of Murrow being involved in a Soviet group twenty years ago, was shot down. John Proctor tried to clear his name as well but found it difficult with the court telling him what and what not to do. These two men had differences in their actions by how they went about them. Murrow thoroughly investigated before claiming or saying anything to America. John however, not having as much support, made excuses and started accusing others of witchcraft. Proctor fell under the spell of the court and said what would make them happy just so they would stop. He soon began not following his initial idea of telling the truth which Murrow kept through out the accusations and pressures from McCarthy and his boss, the CEO of Columbia Broadcast Systems. Each of these actions made by the men caused the plot line to end with different affects felt. In the two story lines, both men were falsely accused but resulted in different endings. John Proctor was accused of witchcraft, which he tried but failed standing up for. Edward Murrow was accused of being a communist but stood up for himself creating a different ending. Proctor, unlike Murrow, did not have the power and evidence to clear his name of witchery and also had the accusation of adultery. The affects of his lack of support end with him being hanged of something he tried to prove to the court he did not do. Murrow on the other hand, had support and evidence which caused his story ending to be much different than Proctors. Due to his amount of determination and with the modern day advances he had, Murrow became a legend for his reporting especially during the McCarthy trials. He went to a new level of reporting by standing up for himself and what he knew he was not, a communist. If Proctor had the modern day media or even more support, one can only wonder how his outcome would have been affected. John Proctor and Edward Murrow, two stand out characters of two different eras, share similarities and differences in their traits, actions taken and results of those actions. These men were standing up for themselves against strongly set accusers who treated them as if they committed horrific crimes. Whether John did commit witchcraft of Edward was a communist is overshadowed by the way people accused and investigated the men or did not investigate in John’s case. The creditability of the court system is strongly questioned after reading The Crucible and watching Good Night and Good Luck and makes one wonder how trustworthy and fair are the American courts really are. How to cite The Crucible, Essay examples

Google Operations and Business-Free-Samples-Myassignmenthelp.com

Question: Strategic Human Resource Management of Google Company. Answer: Introduction The report presents a brief overview of the Google Company. It explains that how Google is providing online products and services to its customers. Google is a well-known company which deals in online products and services. The report explains the strategy and performance level of Google. It also explains the key challenges which are faced by the company in practice of strategic human resource management. Background and nature of the organization Google has been selected for doing work in the future. It is an American technology corporation which deals in internet related products and services. It was founded in 1998 by Larry page and Sergey bin in California. The products and services include online advertising technologies; cloud computing, operating system development, search, web app, browser, hardware and software (Safko, 2010). The external and internal factors affect the business of the Google so it should analyze the external and internal environment. There are some external factors which influence the Google operation are discussed as below. Economic environment: Every business and company highly dependent on its economic environment. The economic factors which affect the Google business are such as: The disposable and purchasing power of people and economic situation of different sector of the population affect the Google operations and business. The Google operation is also influenced by the Income, savings, credit availability of customers and trends in income distributions of people. The interest rate, exchange rate, inflation rate and tax rates also affect its operation. The behavior of capital market also plays a vital role in economic factors which affect the business of Google (Basu et al, 2008). Political factors: The political factors such as political stability, tax laws, a form of government and laws related to promotion and hiring of employees also affect the business of the company. Technological factors: While doing business in Google, technological factors should be kept in mind. The technological factors also affect the business and operation of Google. Legal environment: The legal factors include patent protection; rules, policies, and regulation form by the government also affect the business of the company. Google is trying to explore its business day by day so it is improving in online products and services. Now a days Google Company is using new technologies and techniques for the achievement of goals and objectives. It is developing new software for the mobile users thus China people use Google search services in cell phones. Therefore it is increasing market share in China. Competitors of Google The main competitors of Google are Yahoo, Bing, face book, Microsoft, and Amazon. Now a days Google is taking its competitive advantages and it is making good market position in the world. It is providing good infrastructure and innovative services to its customers. Google has developed fast and efficient search engine to take competitive advantages. Google search speed is much better than other companies. In this way, it is maintaining the good competitive level in the market (Shuen, 2008). Key stakeholders There are many stakeholders of Google and all stakeholders play a significant role in company success. The key stakeholders of Google are discussed as below. Users: Users are individual persons who use products and services of the company. The users are important for the company because they explain the company reputation. Employees: Employees play a crucial role in company success because they perform the companies capabilities and they do work for the growth of the company. Employees also want to do work in Google because it provides better opportunities for doing work and the company also provides excellent compensation and reward system. Investors: Investors are the major key stakeholders of Google which influence the CSR activities. Investors measure and determine the capital of the company. They focus on the growth and revenue of the company. Government: The government is a major stakeholder of the company because it makes rules and regulation of the company to drive the Google business successfully. Communities: The communities get benefits from the company so they play a vital role in Google business. They also affect the customers response and perception for Google product and services (Wheeler, 2012). Google trends It is a public web facility of Google.Inc which is based on the Google search that represents how often a specific search period and term entered related to the total search volume among the different nations of the world and in different languages. Recently various trends are going on such as fashion trends, sports trends, and movies trends. Google culture and nature of the work The culture of Google is better and unique than other competitors and it provides an excellent working environment to employees. It provides flexibility in the work and provides financial support to employees if they are facing any problems. It held meetings on every Monday to motivate the employees for doing work. In Google, employees follow a code of conduct and ethics. They maintain coordination and cooperation among the department. Google provides flexible working hours to employees so they can improve in production efficiency (Berman et al, 2012). Products and services of Google Google provides various kinds of products and services such as Google search engine, Google app, Web email, cloud storage of consumers and businesses, calendar software, Google maps, Google analytics and Google merchant center. Strategy of Google Google strategy depends upon the advertisement because its revenue and profit based on the advertisement. So it needs more advertisement places to increase revenue and profit. Therefore Google has acquired Blogger and you tube which are serving venues for its ads. Now a days Google is using differentiation generic strategy like Porter model and intensive growth strategy for product development and market growth. It is making an excellent strategy to overcome the competitors such as Yahoo and Amazon.com (Stross, 2008). Performance level of Google Google is performing excellent work by providing numerous products and services to customers. Google culture and structure is the competitive strength of the company. Google evaluates and measures the performance of employees through soliciting peer feedback review and annual reviews. It provides the rewards and incentives to talented employees. Google appoints multi talented and potential leaders who inspire and motivate the subordinates. The Group of managers sits together for analyzing and evaluating the performance of employees. On the behalf of performance, managers give a rating to employees and decide their appraisal and incentive. Google provides a standard package with fringe benefits to its potential employees (Hitt et al, 2012). Key problems facing in strategic human resource management Strategic human resource management is the practice of developing, rewarding, attracting and retaining employees for providing benefits to employees as well as an organization (Bratton Gold, 2012). The five key challenges which are facing in practice of human resource management in Google are discussed as below. Workforce diversity is a big issue in practice of SHRM Strategic human resource management faces Challenges in retention of talented employees. They face the problem in recruitment of talented employees Compensation, workforce training, and development challenges are faced by Google in practice of SHRM Management changes and leadership development is also a big problem in practice of SHRM. Conclusion The report is based on Google Company which is providing various kinds of internet related products and services to consumers. Now a day Google is trying to provide best internet products and services to its customers. The report also explains the culture and strategy of Google. It explains the key challenges of strategic human resource management. Now it is concluded that Google should maintain a good identity in the world and it should more improve its online services. References Basu, S., Davidson, I. and Wagstaff, K. eds., 2008.Constrained clustering: Advances in algorithms, theory, and applications. CRC Press. Berman, E.M., Bowman, J.S., West, J.P. and Van Wart, M.R., 2012.Human resource management in public service: Paradoxes, processes, and problems. Sage. Bratton, J. and Gold, J., 2012.Human resource management: theory and practice. Palgrave Macmillan. Hitt, M.A., Ireland, R.D. and Hoskisson, R.E., 2012.Strategic management cases: competitiveness and globalization. Cengage Learning. Safko, L., 2010.The social media bible: tactics, tools, and strategies for business success. John Wiley Sons. Shuen, A., 2008.Web 2.0: A Strategy Guide: Business thinking and strategies behind successful Web 2.0 implementations. OReilly Media, Inc.". Stross, R., 2008.Planet Google: One company's audacious plan to organize everything we know. Simon and Schuster. Wheeler, A., 2012.Designing brand identity: an essential guide for the whole branding team. John Wiley Sons.

The Islamic Revolution an Example of the Topic History Essays by

The Islamic Revolution The 1978 political turbulence that put an end to the millennium-old monarchy in Iran has become known as the "Iranian Revolution." Officially, it is called the "Islamic Revolution," a notion emphasized by the new sovereigns and their loyal supporters in order to justify the rule of the Shiia clergymen and their Islamic principles. (Bernard Lewis, 2004). Need essay sample on "The Islamic Revolution" topic? We will write a custom essay sample specifically for you Proceed Our Customers Often Tell Us: Who wants to write paper for me? Professional writers recommend: Academic Papers For Sale Cheap Writing Services Write My Essay Online Cheap Custom Writing Service Is It Illegal To Write Papers For Money The "Revolution" replaced the existing political order with a theocracy, a development incongruent with trends prevalent elsewhere in contemporary history wherever there has been a revolution. The incongruency is apparent not merely because a revolution had taken place, but because it had occurred under the leadership of a traditionalist Moslem clergy, who were striving to materialize their long term objective: the establishment of a theocracy. In fact, it is surprising to note that until the early 1970s Iran was undergoing a transition toward a more secular society, with the role of religion diminishing in regard to political affairs. The outspoken revolutionary and reformist opposition forces were mainly secular in their orientation. Their domain of influence was expanding, making them a likely candidate to replace the existing regime. Then, in the 1970s, a renewed Shiia revitalization movement began. This movement gained momentum and penetrated almost every segment of the population. It conquered certain social territories that had been the stronghold of the former secular political groups. Simultaneously, it strengthened and expanded its influence among the lower classes and rural people. This movement even found access to those members of the middle class who were better educated than most other Iranians. It was a great success for the proponents of Islamic rule, for now they had easy access to the group with the most significant political potential in the country--the urban middle class. This stratum included most of Iran's politically hotheaded college students, younger white-collar employees, and young officers in the administration of Iran's growing industrial system. These groups included most of Iran's long-time opponents of the regime, who were thoroughly experienced in radical activities under repressive rule. They were people with the knowledge and skills of political persuasion. It was not, therefore, the size of this stratum that was significant, but its political potential. It became increasingly apparent that a redirection of the national struggle was in the process and that events were moving in favor of Islamic activists. Building upon this movement, different Moslem groups were encouraged to expand their activities, both in political and nonpolitical affairs. Some groups attempted to appeal to all classes with their political objectives and demands for a national uprising against the regime. As the struggle proceeded, during 1977-78, the Shiia groups under Ayatollah Khomeini's leadership managed to unify the major opposition forces over the objective of pushing the Shah out of office. This objective brought nearly all the opposition groups under a single leadership. As a result, the leading clergy who commanded the alliance of the insurgent masses rose to the position of leader of the opposition groups, speaking with a national voice. This promotion was not only political; simultaneously, it imposed the clergy's objectives and preferences upon the people. Such activities at the leadership level were complemented by the entrance into the movement of millions of people who had very little previous political experience. A power was created that could easily crush any resistance, could silence any other alternative suggestions, and was obedient to the clergymen who had established themselves as the leaders of the uprising. The contribution and power of the small, but highly influential, new middle class was becoming insignificant compared to that of the urban lower class and the rural people. These earlier activists found themselves powerless to exert any determining influence upon the new course of social change. The energies that now moved the masses were beyond the control or command of the new middle class. The slogans, for example, during the early wave of the uprising in the winter of 1978, were "Freedom and Independence." By the end of the year, they had become "Freedom, Independence, and the Islamic Republic." The former reflects the earlier phase when secularists were still in the lead, and the latter reflects the time when the clergy leaders and their supporters had become a dominant force. The original political demands, for which the secularists had fought for years and to which they had tried to educate the populace, were fading away in the uproar of escalating revolution. Those demands were overstepped by an Islamic fundamentalist revitalization movement that had attracted millions of newcomers to the realm of revolutionary politics. Ideologically, the secular group found themselves to be like a gust of wind lost in a hurricane. They had helped the genie out of the bottle only to find themselves caught in his vise-like grip. The movement was entering a new phase. (Nikki R. Keddie, 2003). In this phase, the demands of nearly all political forces that did not belong to the clergy-led groups were either removed from the agenda or pushed down on the list. Very little opportunity remained for secular demands, even if they were made by Moslem intellectuals. The revolution of the secular groups and the consequences of the earlier activists' efforts were swallowed up by the Shiia revitalization movement. The immense national power was now invested in a clerical leadership. Millions of devoted Shiia Iranians listened eagerly to these leaders as both political commanders and religious authorities. Millions of others obeyed them, at least as a political leadership. In this way, it was possible for the Shiia activists to elevate Ayatollah Khomeini to a leading position as a personification of the "People's Revolution," as both its spokesman and commander. Thus, a theocracy was born. (Nikki R. Keddie, 2003). The Iranian experience provides valuable data and certain insights into some key theoretical issues in sociology. It could contribute to the sociology of modernization, the sociology of revolutions, and the social study of culture and religion. Since the Iranian Revolution is only a single case and a case that seems to be historically specific, we may be prevented from over generalizing based on Iranian findings. However, the event raises certain issues and addresses certain questions that could shed some light on the shortcomings of existing theories. One such shortcoming is in the area of theories of modernization. Theoretical works on modernization were begun by pioneering sociologists and were later pursued by those in communications. As it had begun with the works of earlier theorists such as Daniel Lerner, modernization was viewed as a process that had great social-psychological consequences. What these attempted to do was trace the consequences for the material modernization of a society in terms of the internal (psychological) changes that take place within the inpidual. They further expanded these concerns in order to learn more about what facilitates or hinders the process of modernization of inpiduals. The Iranian case may suggest a need to look at the facilitators and impedances that are of a class and political nature. The breakdown of the inpidual's internal constraints against modernization, which the existing theorists tend to focus on, is not sufficient to understand both the modernization and counter modernization developments. As the Iranian case clearly shows, modernization is not viewed by the people who are subject to it as a value-free experience. It is understood as favoring certain groups more than others, and therefore becomes a political or even a class-domination process in the eyes of the people. It is this sort of cognitive mapping of modernization that is the key to understanding the cultural and religious revitalization movements that were active in Iran, and may potentially develop in many other Middle Eastern countries. (Christin Marschall, 2003). Similar arguments may be made about the theories of revolution. There exists a tendency for certain social theorists to try to reduce revolutionary events to causal models. Moreover, they tend to focus on monocausal explanations. The fact, as the Iranian Revolution seems to suggest, is that it might be futile to look for a single cause. Rather, one may need to favor a holistic approach. Again, it must be asserted that while none of the causal explanations can probably be rejected, even the monocausal ones, they do seem to only show a glimpse of revolutionary events. This theoretical issue could be raised about the potential sources of change generated by culture. If culture is viewed as a homogeneous medium, as in most cases it is, then it may closely resemble a static entity, a passive one that could not be the source of major social changes. What makes the Iranian culture and Shiiaism a potential ground for the generation of political forces is the dualism that is embedded in it. It is not just a series of justifications, historically formed by the interests of the ruling classes; nor is its content all anti-ruling class sentiments. It is both. The dynamism that could make culture and religion two important sources of change arises from this very fact of dualism. In the case of the Revolution, it was the antiruling class elements of Iranian culture and Shiia Islam that became the seedbed of radicalism that represented itself as revitalization movements. Such movements may well parallel other drives, such as those caused by material and group interests. For certain strata of people, the impetus could quite reasonably be cultural or religious movements, and nothing more. (Bernard Lewis, 2004). Surely, there were and still are many Iranians, acting and sounding as radical as any other "anti-imperialist" and "anti-ruling class" activists, who still sincerely believe that they revolted to vitalize their religion, that Shiia revitalization is indeed a revolutionary act, that the Revolution was definitely for Islam, and that they are ready to sacrifice their lives for that cause. For this category of people, ideologies, motives, supportive sentiments for revolutionary actions, and the ideals for which they have striven all have originated from their religion and culture. (Bernard Lewis, 2004). References: Bernard Lewis (2004). From Babel to Dragomans: Interpreting the Middle East; Oxford University Press Christin Marschall (2003). Iran's Persian Gulf Policy: From Khomeini to Khatami; Routledge Curzon Nikki R. Keddie (2003). Modern Iran: Roots and Results of Revolution; Yale University Press

The Internet vs. The Web

The Internet vs. The Web The Internet vs. The Web The Internet vs. The Web By Maeve Maddox Although the hoi polloi (i.e., the masses) use the words Web and Internet interchangeably, there is a difference worth learning. The Internet existed before the Web. The first meaning of internet as it relates to computing was â€Å"a computer network consisting of or connecting a number of smaller networks, such as two or more local area networks connected by a shared communications protocol.† The U.S. Defense Department had such a network called ARPANET–an acronym derived from Advanced Research Projects Agency Network. From this DoD â€Å"internet† evolved â€Å"the Internet,† a global computer network that provides a variety of communication facilities–only one of which is the Web. ARPANET was developed in the 1960s to enable researchers to use computers from remote locations. In 1982, the Internet Protocol Suite (IPS) was standardized and the Internet was officially defined as a global interconnected network. Although global, the new Internet was still mainly the reserve of people with the specialized skills needed to access it. All that changed in the early 1990s when Tim Berners-Lee, a graduate of Oxford University, created a system of interlinked documents (e.g., web pages) that could be easily accessed by anyone using a browser. He called it the World Wide Web. The Web, therefore, is not the Internet. The Web is one of many services that run on top of the Internet infrastructure. Other such services include email, FTP, and VOIP (e.g., Skype). Here’s a typical misuse of the term Internet: Are you unfamiliar with the Internet? If you want to know how to search the Internet, then you have to find the right search engine, type in your search as accurately as possible, and browse through the results to find the one you want. –WikiHow I’m guessing that the Defense Department may know how to search the Internet, but when ordinary mortals go online to find cute kitten photos, they use search engines to search the Web. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Misused Words category, check our popular posts, or choose a related post below:Writing a Reference Letter (With Examples)Hyper and HypoPredicate Complements

What's The Incentive Case Study Example | Topics and Well Written Essays - 2000 words

What's The Incentive - Case Study Example The terms of employees’ payment within each organization have to be based on specific criteria: emphasis needs to be given on equality among employees so that conflicts in the internal organizational environment are avoided (Laffont and Tirole 1993). In the case of pay and reward pay package of engineers a significant dilemma appears: is this package fair, taking into consideration the changes developed in the organization since its introduction? The answer should be negative. The specific view can be justified through the following argument: the visits of engineers to the depot have been a key part of their position, meaning that their payment would be significantly lower if they were not obliged to visit the depot. In other words, the terms of engineers’ pay and reward have been arranged in this way mostly because engineers had to visit the depot many times each time, a fact that would reduce their free time for making calls to sites. It is for this reason also, that the term for a visit of at least 4 sites and the provision of reward for visiting extra sites was set in the agreement between the employer and the engineers’ union. The above agreement would not be valid today since the working conditions of engineers have been significantly altered so that a key feature of their daily tasks, the need for visiting the depot, has been eliminated. Being considered as valid, the above agreement can lead, in the short or the long term, to severe turbulences within the organization, at the level that other employees have not been favoured from similar advances in their daily tasks. From another point of view, the current pay and reward package of employees leads to another concern: the employer had suggested such package on the terms that the daily calls of engineers to sites could not be over a particular number. This means that having to visit the depot on a daily basis, engineers could not visit many sites each day; for this reason, 4 sites have

Hooke's Law Lab Report Example | Topics and Well Written Essays - 250 words

Hooke's Law - Lab Report Example The tables, Table 1a,1b,1c,1d gave way for constructing a table for change in length as result of applied force for the 5 rubber bands. The tables 2A, 2b, 2c, 2d show that as the forces are increased so does the length of stretch increase. 12N force when applied causes more stretch than the rest of the force, for all the trials. The averages for the change in length caused by the forces were also calculated as shown in Table 3: Averages. These averages in length change were used to build Plotting table, Table 4, as a basis for producing a graph for the relationship. Graph 1 show that all the five rubbers did not exhibit a straight line when the change in length was plotted against force. Graph 2 shows that the relationship between average change in lengths and force does not produce a straight line. This is indicative of presence of outliers in the graph as shown by the dark straight line. The results indicate that despite increased changed in length as force is increased, rubber does not fully respect Hooke’s Law. The presence of outliers in graph indicates that rubber band does not respect the concept of Hooke’s law, â€Å"a graph of force against extension produces a straight line that passes through the origin† (Wilson & Hall, 2009). The inconsistency witnessed results from the nature of rubber’s elasticity, which makes it stress dependent and easily affected by temperature. Intuitively, any slight change in temperature might have interfered with the measurement. This implies that rubber band does not follow Hooke’s law because of the inconsistency in change in

Consumer Behaviour in the Consumer Electronics Market Essay

Consumer Behaviour in the Consumer Electronics Market - Essay Example The company has recently released the Walkman MP3 player Z series. This particular product is able to combine several elements of the past MP3 players into a new alternative for music while providing the next step to listening to music that many can enjoy within the market. The concept of ILaz is one which developed from the main philosophy of providing new and innovative products based on entertainment needs. It was recently established, specifically with the basis of using the new ideologies of engineers to enhance the products and to create unique electronic features which could be introduced on a global basis. The founding ideology is to create innovative products and technical features that enhance entertainment. The mission is to offer high end and newer electronics to the community which will establish entertainment and offer a different use with better alternatives for leisure activities. The vision is to offer several types of electronic products with a strong reputation for quality and enjoyment. The MP3 player which is provided uses some of the technologies which have been produced by other engineers, such as Sony, and enhances these with newer features that provide more alternatives for listening. The meaning of entertainment devices is inclusive of music, video, photography and other digital products that are specific to the entertainment realm. By having this approach, there is the ability to specialize in high – end products that need different resolutions and alternatives for better listening. The product which is offered by Ilaz is the Z-Series Walkman MP3 player. This is an upgrade to the MP3 players offered by other companies, specifically because of the approach to upgrade technology for better use. The main approach is to offer music in the digital, handheld device that has a clear and distinct sound and which has higher resolution with videos for those that are looking at entertainment through the player. The technology used for bet ter sounds and resolution of video includes digital sound enhancement, noise cancelling, clear stereo and clear bass technologies. The ideology is combined with creating an experience with sound, video and other applications. The system has also incorporated content transfer software, which offers music, video and photo that can all be added into the product. There is the ability to have more transfers, automatic options for downloading as well as updates and the support of digital rights management. There is also a management system incorporated, which consists of sorting files, plugging and transferring files and moving from one platform to another, such as from the PC to iTunes. The product has also incorporated options of moving from different players for better playing. The MP3 system incorporates Bluetooth technology and some of the latest looks and feels of the new device. The product is based on the latest ILaz Z – Series walkman; however, it has enhanced features to offer even more compatibility for both music and video (Sony, 2011). The concepts which have been added to the MP3 player, as well as the popularity of the product can be looked into in terms of the UK market. In general, the UK market has increased in the number that is looking at the different digital players, as seen in graph 1. Graph 1: Increase in UK Electronics Market (National Statistics, 2007). This is combined with the alterations with MP3 players which include 26% of individuals age 15 and over owning the player. It is also

Relationship between Accounting Information and Market Risk

Relationship between Accounting Information and Market Risk Financial theory describes risk assessment as one of the most important part in an investment decision making process.  However, for a risk to be known, it is important for investors to interpret information flowing on the market. This study aims to examine the association between accounting information and the market risk over time. It also evaluates how far the beta value and accounting variables can be useful for investors in Mauritius. Beta estimates are calculated using Capital asset pricing model and accounting risk variables are derived from theoretical foundations and prior empirical findings. The relationship between the financial ratios and the level of systematic risk is obtained by regressing the variation in the beta against changes in the accounting variable. The empirical evidence shows that beta is valid on the Stock Exchange of Mauritius (SEM). However, the power of beta is relatively low in capturing the systematic risk. This finding is in line with Campbell (1995) who obtained similar observation for emerging equity market and with Bundoo (2000) who noted same result. Finally the result shows that a strong association exist between accounting variables and market risk and it also observed that this relationship is consistent over time. Accounting variables like growth rate, debt ratio, asset size, liquidity, profit margin and accounting beta are able to capture market risk where beta generally provides a high explanatory power of systematic risk. The findings contradict the some of the association between the market risk measures and accounting risk measure obtained Beaver et al (1979).   1  Introduction The growth experienced in the Stock Exchange of Mauritius (SEM) during the years 1989 to 2007 was with no precedence. Stock prices of quoted companies on the SEM boomed, causing a high influx of capital which caused the market to rise to its peak with a net market capitalisation of MUR 173 billion in the end of the financial year 2007. Local investors who had investments in fixed deposits from local commercial banks shifted some of their investments to the SEM, with view of higher return. But Stock prices started to fall soon after the end of the month of February 2008 and within a year the SEMDEX reached a position which was a low as the values experienced in September 2006. While this fall was largely attributed to the morose international situation, as a result of the international financial crisis; there is also the question whether the SEM effectively capture risk which is inherent by companies quoted and how far investors in Mauritius used the publish financial information to evaluate and predict the level of risk in the operating environment. Financial markets serve a key purpose in an economy by allocating productive resources among various areas so as to enable an efficient resource allocation, across different firms, investors assess the security and market expected prospects and risks and form a portfolio of investments based on their assessment. Security analysis usually involves an evaluation of the financial position and performance obtained from the financial statements published periodically by companies. In an efficient financial market the share prices is expected change to the fair value of the firm as new information flows into the market. Financial theory describes risk assessment as one of the most important part in an investment decision making process. The return of a stock is often considered to be narrowly related with the risk which the investor is taking while holding that stock. This makes the generally accepted principle that the higher is the risk in investing in an asset, the higher should be the asset’s expected return. This implies that there is a positive correlation between risk and expected return in holding a stock. 1.1  Problem Statement The analysis of stocks return is intricately linked with the analysis of risk. Empirical studies carried by Graham et al (2001) has shown that the Capital Asset Pricing Model (CAPM), (an asset pricing tool which uses risk as a basis to calculate assets return) is used, by more than seventy five percent of the chief financial officers, as primary tools in the portfolio selection process. However some authors in the capital markets literature (Campbell (1995) and Chan et al (1991)) have argued that in the case of emerging stock exchanges the CAPM is inapplicable and beta is not significant. However, for a risk to be known, it is important for investors to interpret information flowing to the market. Fama (1963) described three generic forms of market efficiency based on the market reaction to inflow of information. Markets which react to all past information are said to be in its weak form, those markets which react to all past and publicly available information are referred to as semi-strong efficient markets and those which react to all past, public and private information are considered as strongly efficient markets. A study made by Bundoo (2008) showed that Stock Exchange of Mauritius (SEM) has the characteristics of a market in its weak form. This implies that the SEM effectively responds to past information. Yet there is absence of empirical research which evaluates whether market return and risk are effectively pictured through accounting ratios. 1.2  Aims and objectives This paper aims at analysing the share prices in the SEM and key accounting ratios to evaluate the financial position, performance of a sample of companies quoted across various economic sectors of the SEM with the view of answering the above question. It also seeks to test whether investors can trust beta in their decision-making process on the SEM. The paper also aims at: understanding the relationship between the financial ratios, market return and risk; estimating the level of systematic for different business segment where financial market information is not available; and to guide investment in measuring the systematic in private and non listed companies in Mauritius. 1.3  Organisation of this paper The paper is organised as follows: Chapter 2 provides a summary of literatures concerning risk measures, accounting tools and market-based models to measure the performance and risk; It also surveys the empirical researches on the SEM  and similar markets; Chapter 3 develops the models which are to be used in the analysis of the relationship between systematic risk and accounting ratios; It also outline the methodology and sample data which is used in the analysis; Chapter 4 presents the key findings from the study and Chapter 5 concludes the paper. 2  Literature review Risk and return of a firm are the two most important factors in the development of financial strategy for both individual investors and firms. Risk is inherently multi-dimensional and as such it has multiple characteristics which may be classified as financial and non financial. These characteristics make up the risk profile of a security, which is generally observed as changing with time and at different levels of a market. These changes in turn, impact on the return of the investors either by creating value or destroying the initial value before the investment.   Modern financial theories have proposed different models which are founded on sound theoretical analysis which can be used to estimate the different degree of riskiness of a particular security. These risk measures are then used in valuation models to estimate the return which an investor, with a defined risk attitude, can expect from an investment. As described in chapter 1, above, the applicability of such financial theories remain untested in many emerging markets. This chapter reviews the financial models which are commonly used by practitioners for estimating of the risk of stocks and stock market and their corresponding returns. It also summarises the main financial ratios which are used to analyse the financial risk, financial performance and the value of the firm. Finally a summary of the accounting tools and market-based models to measure return is also presented. 2.1  Risk It has always been difficult for practitioners to reach a consensus on the definition of risk. Moles (2004), nevertheless, provides a simple definition which is taken in this paper as basis for risk measurement. He defines risk as â€Å"the chance (or probability) of a deviation from an anticipated outcome†. With this definition it is implied that risk is made up of at least these 3 elements: 1.  probability: which means that risk can be quantified and expressed as a parameter, number of value; 2.  deviation from anticipated outcome: which is extent to which the actual result may deviate from that which is expected; 3.  anticipated outcome: this means that it is the consequence of the actual results deviating from the expected results that leads to risk. Newbold et al (2003) states that probability can be measured using past data by considering the proportion of times that an event occurred. For the case of an investor the anticipated event would be the financial return which he or she can expect by holding an asset. The measurement of the deviation from the anticipated return is normally done using the standard deviation of returns generated by an asset with regard to the expected return. 2.1.1  Systematic and unsystematic risks The deviation from the anticipated return is caused by is explained by 2 levels of risk: systematic risk and unsystematic risk.  The sum of these two main categories of risk is the total risk to which an investor is exposed to. Systematic risk is associated with overall movements in the general market or economy and therefore is often referred to as the market risk. The market risk is the component of the total risk that cannot be eliminated through portfolio diversification. Unsystematic risk which is a component of the portfolio risk that can be eliminated by increasing the portfolio size, the reason being that risks that are specific to an individual security such as business or financial risk can be eliminated by constructing a well-diversified portfolio. 2.2  The Capital asset pricing model Markowitz (1952) constructed a mean-variance model to observe the trade-off between risks and return. The model mathematically proved that return can be maximised, while minimising the overall risk, by holding a diversified portfolio. The idea was based on the concept that securities that are inversely correlated or having coefficients which are less than one. Such negative or low correlation coefficient results in a low covariance between securities in the portfolio. The low covariance implies a comparatively low level risk. However, Sing et al, (2001) observed that the model ignore the general risk-averse attitude of most investors. The Capital Asset Pricing Model (CAPM), developed by Sharpe (1964), is based on the framework set out by Markowitz (1952) which considers that investors invest their money in a portfolio of assets. The CAPM states that the return which a risk averse can expect from investing in a risky asset is a risk premium over the risk free rate. The formula 1 below states the formula which can be used to calculate the expected return. E(Ri)  = Rf +  i  (  E(Rm)   Rf  )  (2.1) where: E(Ri)  Ã‚  expected rate return of stock I; i  Ã‚  relative risk of share I; E(Rm)  Ã‚  expected rate return of the market portfolio; and Rf   risk-free interest rate. Sharpe (1964) and Lintner (1965) explained that the correct measure of risk of an asset is its beta factor, a standardised measure of the systematic risk and that the risk premium per unit of riskiness is the same across all assets. CAPM has been developed by considering some assumptions such as normal distribution of assets return, perfect divisibility of assets and return, the existence of a risk free rate, perfect market conditions, inter alia, which might not exist in the real world. Despite the fact that most of the above assumptions are neither valid nor fulfilled, the CAPM has become an important tool in finance. It is widely used by finance practitioners for assessment of cost of capital, portfolio performance, portfolio diversification, valuing investments and choosing portfolio strategy among others. The ÃŽ ² factor in the equation 2.1 measures the volatility of the specific asset with regard to the volatility in the market, that is, the market risk. Mathematically it is expressed as in equation 2, below: (2.2) where: systematic_riskasset = covariance of the asset and that of the market market_risk is the volatility in the market portfolio, it is measured by the standard deviation of prices of the market portfolio. 2.2.1  Empirical review of Capital asset pricing model The empirical studies undertaken by Jensen et al. (1972) found supportive evidence for CAPM. The authors found that the actual return, for a sample of companies quoted on the New York Stock Exchange (NYSE), were consistent with the predictions of the CAPM.  They noted that the relationship between the average return and beta was very close to a linear one and that portfolios with high betas had high average returns. The same result was confirmed by Black et al. (1972), who studied of all the stocks on the NYSE over the period 1931-1965. Black et al. (1972) formed portfolios of stocks and analysed the abnormal return with regard to the beta factor, and found a linear relationship between the average excess portfolio return and the beta. Black et al (1972) observed that the beta factor measured the responsiveness of the share return to changes in the returns of the market. Stocks with high positive betas had stock price which rose faster than the market. This implies that high beta stocks bear a higher degree of risk compared to stocks which have their beta factor as negative. Stock with negative beta behave negatively to changes in the market, as such, in a bearish market, it is more attractive to invest in these stocks as it helps to preserve the value of the investor. Fama et al. (1973) also observed a larger intercept than the risk-free rate when analyzing the return against risk. They confirmed that there is a linear relationship between the average return and the beta, even over longer period. They further investigated whether the squared value of the beta and the volatility of assets returns explained the residual variation in the average returns across asset and found that, in addition to portfolio risk, there are other variables that affect expected return. 2.2.2  Critics against Capital asset pricing model There has been also several criticism of the applicability of the CAPM in many markets. Empirical research undertaken by Basu (1977) proposed other factors which have to be considered instead of relying wholly on a single variable, beta. According to Basu (1977) the price earnings ratio has a great influence in market return. Banz (1981) challenged the model by indicating that firm size have a considerable impact on the average returns of a particular stock and thus firm size could better explain the volatility than the market beta. The author observed that the average return of small firms were higher than the average returns on stocks of large firms. Chan et al (1991) made a further observation, on the Japanese market, that stocks with high ratios of book value of common equity have significantly higher returns than stocks with low book to market equity. In this respect, book to market equity started to be regarded as being an important variable that could produce dispersion in average returns. Fama and French (1992) came up with the conclusion that a more realistic approach of the risk in the market is the multi-index models. Their study concluded the findings of Basu(1977), Stattman (1980), Banz (1981) and Chan et al (1991) who argued that size of the firm and the books to market equity ratio are far superior in explaining asset returns. In contrast with CAPM which can be considered as a single factor model, Ross (1976) proposed a multifactor arbitrage pricing theory (APT).  Groenewold et al (1997) examined the validity of the model for Australian data and compared the performance of the empirical version of the APT and the CAPM. They concluded that APT outperforms the CAPM in terms of within-sample explanatory power. The APT, however, is a generic model and does not specify any factor which has to be considered in analysing return with regard to risk. 2.2.3  The ongoing debate on the applicability of Capital asset pricing model Nevertheless, there is no consensus in favour of CAPM due to the disparities in the empirical findings and the debate continues. In general, the studies challenge the data used by Fama et al (1993). Kothari et al (1995) argue that the findings of Fama et al (1993) depend essentially on how the statistical findings are interpreted. Amihudm et al (1992) and Black (1993) supported the idea that the data are too noisy to invalidate the CAPM and showed that when a more efficient statistical model is used, the relationship between average return and beta is positive and significant. The author further suggested the findings in respect of size effect could be simply in a sample period effect and that it may not be noted in another period. Similarly, Berk (1995) questioned the findings of Chan and Chen (1991). The author emphasised that stock prices (and market value of the equity (MVE)) depend on the expected future cash flows which is used by investor to estimate the risk and the required rate of return. Therefore, if two companies have a higher discount rate and consequently its price and MVE will be lower. In this sense, MVE captures the information about the company’s risk, since any change in investors’ perceptions of risk is immediately reflected in the stock prices. Furthermore, when the expected return of a firm is defined as the expected cash flow divided by its MVE, the relationship between MVE and return is clearly negative for companies with equivalent cash flows. Berk concludes that for companies of similar cash flows, the higher the risk of the cash flow, the higher the discount rate investors apply to it, which causes price to decrease and expected return to increase. This concept has contradicted the findings of Chan and al (1991), which attribute higher returns to smaller companies. Owing to its intuitive appeal, the CAPM has become an important tool in finance for assessment of cost of capital, portfolio performance, portfolio diversification, valuing investments and choosing portfolio strategy among others. However, there is no consensus in the literature as to what a suitable measure of risk is, and consequently, as to what is a suitable measure for evaluating risk-adjusted performance (Galagedera, 2007). As such, the debate for robust asset pricing models continues. Other studies (Ball and Brown (1969) and Beaver, et al (1970)) have focussed on accounting variable to convey information about the market risk. 2.3  Accounting variables as a measure of systematic risk Research in accounting variable as a measure of risk has increased considerably since the last forty years with a number of published papers by Beaver et al (1970), Lev et al (1974) , Bernard (1989), Ohlson (1995), and Kothari (2001). Beta measures the relative risk whereby risk itself is determined by some combination of firm characteristics, market conditions, and the sensitivity of the firm stock to market conditions. As such, understanding the relationship between the accounting variable and the systematic risk can provide an alternative basis to a market based estimation and prediction which will in turn guide the accounting policy formulation and investment decision making (Brimble et al, 2007). The study by Beaver et al (1970)  was the most quoted research in accounting and financial research. The author had improved the perdition of systematic risk by considering the firm specific characteristic and they identified significant association between market risk and firm specific accounting information. The financial statements of firms were mostly used in providing considerable information that could be used to measure the inherent risk. In fact, the Financial Accounting Standards Board (1983) stated that the objective of financial reporting is to provide information that is useful to present and potential investors and creditors and other users in making rational investment, credit, and similar decisions. A number of studies investigated how financial information becomes impounded in security prices and affects investment decisions. These accounting data are converted into the financial constructs, such as growth, operating leverage, profitability, liquidity, and efficiency. There is considerable evidence that since the late 1800’s ratio analysis has been widely used in the valuation of published financial data (Connor, 1973). Researchers and investors use mainly financial ratios for risk modelling purposes based on different criteria of comparison which are discussed as follows: Time series analysis: It also known as trend analysis and it is used to compare financial ratios over a period of time. Ratio analysis for one year may not present an accurate picture of the firm (Rao, 1989).  As such, to appraise a firm’s performance, the present ratios need to be compared with the past ratios. Cross-sectional analysis: This method compares ratios of one firm to the ratios of some other selected firms operating in the same industry at the same point in time (Pandey, 1999). Such comparison indicates the comparative financial position and performance of the particular firm. Industry analysis: According to Pandey this type of analysis helps to ascertain the firm’s financial standings and capacity vis-à  -vis other firms in the same industry. A study conducted by Beneda (2006) indicated that commercial lenders often consider the use of industry ratio analysis to be critical with regard to the potential success of the business. The main shortcoming of this analysis is that it is difficult to obtain the average ratio of an industry and if available the average ratio is composed of both strong and weak firms. Financial ratios were used for locating possible takeovers and mostly to predict major events such as corporate failures (Scott, 2004). Other studies reported on an association between accounting ratios and market risk measures, and proposed that certain accounting ratios can be used as proxies in predicting future security (Beaver et al. 1970; Elgers and Murray, 1982). 2.3.1  Usefulness of accounting variables The use accounting as means of estimating the systematic risk will allow the user of the financial statement to assess the investment alternative in terms risk, return and the value of the firms. Ryan (1997) has widely discussed the motive for relating accounting research to measures of market risk: The volatility of market betas over time indicates that the ex post measure of systematic risk is does not provide meaning full information in estimating the future risk. As such, understanding the relationship between accounting variables and systematic risk could indeed be useful in measuring and predicting the actual and upcoming market risk. Market based measures of risk, like the capital asset pricing model, fail to consider most of the firm specific characteristic such as the operational factors and environmental contingencies which influence risk. The accounting risk based information gets closer to the identification these economic fundamentals. Therefore accounting model provides an actual risk determinants rather than just determining the level of risk. Accounting risk model overcome the conventional problem were ex post measure of risk can not be applied due the fact that historical security returns is not available or insufficient like in the case non listed entities and for initial public offering Accounting variable are not affected by the noise found in traditional risk estimates which rely on past trading histories whereby significant variation in one period subsequently affect the overall risk level ; The development of trading strategies and the construction of portfolios with the desired level of risk. 2.3.2  Theoretical and empirical review of the relationship between individual accounting variable and systematic risk. Researchers on the association between systematic risk and accounting ratios were primarily initiated by Beaver (1970). The ratios used by the author were dividend payout, growth rate and leverage ratio, liquidity ratio, variability of earnings and co-variability of earnings. Other studies have further elaborated on these ratios and they also added other accounting based to measure the systematic risk. All these ratios aim at measuring the operating risk, financing risk and growth risk. The theories and empirical finding between these two variables are discussed as follows: Dividend Payout Corporate dividend policy has been the object of lively discussions in finance literature. The debate has revolved around the question of whether companies with generous distribution policies are less risky and whether there exists an optimal payout ratio. Theoretically, it is often asserted that firms with low payout ratios are more risky.  This is because that cost for external finance is relatively high for risky firm than firm with low risk. In this respect, risky firms rely on the utilization of their own reserves to carry out business activities. Dividend payout also affects the systematic risk by the information perceived by variation in the dividend policy. The original idea behind the information content of dividends, was developed by Lintner (1956) who claimed that managers only increased dividends when they believe that the levels of the firm’s earnings have permanently increased. He argued that decrease in dividend may be interpreted as cash flow or liquidity problem. Miller and Modigliani (1961) have argued, on the other hand, that dividend policy is irrelevant to the market value of shares. In a model which disregards taxes, they conclude that the payout policy which the corporation adopts, has no effect on the price of shares. Similarly Watts (1973) and Gonedes (1978) found no evidence that changes in dividend policy contain new information regarding firms future earnings. Gordon (1963) further pointed out that an increase in the proportion of retained profit now means higher cash dividends in the future and therefore conservative dividend policy has no effect on the risk factor. Still, Veikko (1967) explained that the higher the retention rate, the further in the future cash dividends are moved and the greater the uncertainty about their actual amount. Empirical evidence by Edward et al (1998) further showed that a significant negative relationship exists between the dividend pay out ratio and risk element. Growth rate Growth affects the systematic risk in two main ways as identified by Beaver et al (1973).  Firstly, where a firm earns excessive earning opportunities, that is, where the expected rate is higher than the cost of capital. Growth is normally attained by an expansion in the assets size either through the acquisition of new plants or by creating new product line or by takeovers.  The excessive earnings stream derived from these operations is argued to be more uncertain (i.e. volatile) than the normal earnings stream of the firm. In this respect the authors stated that a positive association exists between growth rates and risk. However, Harrigan (1984, 1986) have deepened this analysis and the author has observed different level of association over different industry life cycle characteristics. Harrigan argued that growth strategies, through takeovers and new product development, may be quite risky during an embryonic stage due to the high degree of product, process, and market uncertainty. In contrast, growth strategies may be less risky during times when demand conditions are growing in a stable manner. Finally, growth strategies are expected to become quite risky again as an industry is in transition to maturity because of the cut in the excessive earning streams. The second argument is related to the logic developed about the dividend payout ratio. Additional capital, utilized in the growth of the firm, would reduce the firm earnings in two main ways. If the expansion in asset is financed by the external debt, the firm earning would be eroded through finance cost. Whereas if the growth is financed through the retained earning, a sharp cut in earning attributable to the shareholder is expected. Both methods will ultimately lead to a reduction in dividend payout and thus increase the systematic risk. Asset Size Theoretically, larger firms are less risky than smaller firms. This is because large firms have better access to capital market, management skills and expertise and greater market liquidity. These factors provide opportunities to diversify and to seize new market opportunities to reduce operating risk which will impact on a lower beta than small firms. The studies of Dun et al (1970) reveal that the frequencies of failure are lower for large size firm than firm with low asset capitalization. Horrigan (1966) has shown that the most single important financial statement variable used to predict the bond rating of a firm was total assets. The author observed that if the asset returns are independent, the variance will decrease in direct proportion to the difference in asset size that is, as firm size doubles, the variance of the rate of return will be cut in half. Empirical work by Alexander (1949) observed that as firm size increase, the volatility in the earning streams decrease accordingly.   Moreover firm with wide operating activities are required to make more disclosure. For example the Mauritian companies act, 2001, stipulate that firms with Turnover above MUR 30 Million are required to file a complete set of financial statements with the Registrar of Companies. This information may be consulted by the members of the public upon payment of a nominal fee. Thus, more information is available to evaluate risk level. Collins et al (1987) have identified that small and recently incorporated firms have a high probability of financial distress. Accounting beta Research about the association between the market based beta and an accounting beta originated with Ball and Brown (1969). Accounting beta measures the degree of co-variability of firm earnings and the market earnings. Beaver et al (1970) argue that, if beta is being the used as the market determined concept of risk, then the most direct approach would be to compute the beta value on accounting earnings. Bowman (1969) demonstrated that the higher the accounting beta, the higher the systematic risk. Hence a positive relationship is expected between the two variables. Earning Variance The important relationship between earnings and the market beta is their covariability, accounting beta, is shown in the above. However, the empirical research has generally shown earnings variability to be superior to an accounting beta. Beaver et al (1970) found in a model that use accounting variables to forecast market risk that earnings variability was the most significant variable and that accounting beta did not make a statistically significant contribution. The relationship established by Ball and Brown (1969) is therefore theoretical. Empirical results may differ from theory for two main reasons as advanced by Bowman (1969). The assumptions (i.e there are only pure equity firms (no debt) in the market portfolio) of the theory may not be applicable to the universe being tested. Secondly, t

William Edward Forster Essay -- Education Act of 1870, England

Section A – Plan of Investigation I will analyze the question of â€Å"How did William Edward Forster contribute to the Education Act of 1870 in England?† How he contributed to the act and what changes he did within the act will show how the act became a new advantage in England for the middle-working class. A speech made by William Edward Forster about the Education Act and a memorandum of October 21, 1869 will be used to discuss his contribution and all the provisions made to the act. The book The Elementary Education Act 1870 by Thomas Preston can be great help because it focuses on the Education Act only. For this question, it is best to start by researching about W.E. Forster and the Education Act of 1870 itself. The contribution of W.E. Forster to the act benefited a lot of families and children themselves because they could get an education for free. Section B – Summary of Evidence William Edward Forster drafted the Education Act of 1870 after the government decided to educate the citizens of the country and because England feared that they lacked an effective education system (Docstoc-documents). This act was also known as the Elementary Education Act and it was a culmination of a long struggle (thirty years) to establish an effective and nationwide education schooling system for children ages 5 to 12 (Looking at History). Jackson wrote, â€Å"Forster did not go to school until he was thirteen, he was taught by his mother† (16) could be the reason why he started the Education Act. Therefore W.E. Forster contributed in creating school boards for England, and the country would be divided into about 2,500 school districts (Spartacus Educational). Like W.E. Forster stated in his speech, there are two primary objects in this bill t... ...Brown who loves to talk about history because it interests him and because he likes discussing the political issues in the world. The purpose of the webpage is to inform about The Education Act 1870: revised version. The website was very helpful because it gave a handful of information about the act and it especially talks about the working-class in England. It also gives a great understanding of the requirements of the act and how the working-class benefits from it. The webpage was worth it because it gave many different facts about the Education Act and it also helped a lot while doing research. There could possibly be some limitations to this source because it was written about 140 years later. The good thing is that the source was never bias at any point, it just gave all the different facts and never focused specifically on one thing with one point of view.