The Alltel Pavilion Case Strategy and Cvp Analysis free essay sample

Based on an actual entertainment pavilion, the case develops many factors unique to a service business and illustrates how pavilion management can use CVP analysis to determine which artists to attract and what kinds of contracts to have with these performers. The Pavilion has two types of customers (paying ticket holders and free ticket holders) and earns profits from three types of revenues (ticket revenues, concession revenues, and parking fees). The case requires you to identify the best strategy for different types of artists, conduct cost-volume-profit analyses, consider the strategic issues related to operating leverage and how this affects the choice of performer and contract, and assess pricing strategies. O ne day in early November, Pam Berg, Manager of the ALLTEL Pavilion, was reviewing the operating results for the year just completed in preparation for the executive board meeting the following Friday. While the year ended in the black, she was disappointed that the ALLTEL Pavilion failed to earn the budgeted profit goal. We will write a custom essay sample on The Alltel Pavilion Case: Strategy and Cvp Analysis or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This was the second year since Ms. Berg assumed the manager’s position at the ALLTEL Pavilion. After the somewhat disappointing first year, she was determined to exceed the budgeted profit in the coming year. While not all events developed exactly as expected at the time of preparing the budget for the year, there were no major surprises during the year. Yet, the operating results are below the budgeted goal. In addition, Pam was frustrated by the lack of clear guidelines for contract negotiations with artists, for setting ticket prices, and in dealing with unexpected low ticket sales for certain concerts. THE ALLTEL PAVILION FOR LIVE ENTERTAINMENT The ALLTEL Pavilion in Raleigh, North Carolina (http://www. alltelpavilion. com/) is an outdoor amphitheater that provides live concerts to the public from April through October each year, hosting as many as half a million patrons a year. The seven-month season usually hosts an average of 40 concerts, and 12 year-round staff plan and manage each season. SFX Entertainment Inc. (http://sfxyes. liveonline. net/) operates the pavilion. SFX is one of the largest diversified promoters, producers, and venue operators for live entertainment events in the United States. It has 71 venues either directly owned or operated under lease or exclusive booking arrangements in 29 of the top 50 U. S. markets, including 14 amphitheaters or pavilions in 9 of the top 10 markets. Edward Blocher is a Professor at The University of North Carolina at Chapel Hill, and Kung H. Chen is a Professor at the University of Nebraska–Lincoln. 555 556 Blocher and Chen ALLTEL Pavilion wants to be the nightlife for the Triangle (Raleigh-Durham-Chapel Hill, NC) and eastern North Carolina, and one of the most beautiful, technologically advanced, and successful amphitheaters in the world. It features the most modern state-of-the-art acoustics and video of any facility of its kind. In the last few years, ALLTEL Pavilion staged shows by the Dave Matthews Band, Alan Jackson, Brooks Dunn, Toby Keith, Santana, Tim McGraw, Aerosmith, James Taylor, Jimmy Buffett, and many other national, regional, and local artists. The Pavilion claims, â€Å"There isn’t a bad seat in the house. Whether you choose to spread a blanket on our gently sloping festival lawn or select a reserved seat in our pavilion seating area, you are guaranteed a great view of the action on the stage† (ALLTEL Pavilion website). Exhibit 1 shows the stage and seating of the amphitheater. History/Development The city of Raleigh and Pace Entertainment Company of Houston, Texas jointly built the ALLTEL Pavilion in 1991. Pace Entertainment and Cellar Door Inc. of Raleigh, NC had the initial contract to manage the Pavilion. Hardee’s Food Systems, Inc. of Rocky Mount, NC, the original sponsor of the amphitheater, paid an annual fee to carry its name and logo on all signs and ads regarding the amphitheater. On February 3, 1999 ALLTEL Corp (http://tel. com) became the title sponsor for the amphitheater. The demand for the outdoor facility came about because the rapidly growing city of Raleigh lacked a major entertainment complex. In the late 1980s Pace Entertainment and the city of Raleigh came to an agreement to build the facility. The city of Raleigh would own the land while Pace Entertainment would own the facility and assume sole operations of the facility; Cellar Door would do the booking for all the concerts. Pace Entertainment would pay income taxes on earnings from the use of the facility. In 1998, SFX Entertainment Inc. acquired Pace Entertainment Inc. The amphitheater facility and its employees became part of SFX Entertainment Inc. Also, in 1999 SFX Entertainment Inc. acquired Cellar Door Inc. and merged with Clear Channel Communications Inc. , one of the largest owners of radio stations in the country. This move brought together both worlds of the entertainment business. While the company has diverse holdings, the philosophy of SFX is â€Å"One Company, One Mission. † Many companies that are now owned by SFX were at one time bitter rivals in the concertpromoting business. These companies now maintain good working relationships within SFX. A key goal for SFX is for the net operating income of each of its holdings, including the ALLTEL Pavilion, to grow 5 percent each year. The Pavilion competes with the RBC Center (http://www. rbccenter. com) at North Carolina State University in Raleigh (NCSU), the Dean Smith Activities Center (http://tarheelblue. ocsn. com/genrel/ 092301aad. html) at The University of North Carolina in Chapel Hill, NC (UNC), and the Verizon Wireless Amphitheater in Charlotte, NC (http://www. verizonwirelessamphitheater. com/charlotte/), among others. In contrast to the facilities at NCSU and UNC that offer only indoor events, the Pavilion offers outdoor as well as sheltered seating for its events. Marketing, Operations, and Accounting When the marketing department plans a promotion for an upcoming event, it coordinates with the sales department to see if there is a conflict in sponsorship. Marketing also coordinates with the operations department to effectively manage the activities on show days. Finally, the budget of each department (sales, marketing, and operations) is reviewed by the accounting department, which provides overall financial anagement of the project. Bringing Concerts to Reality A concert becomes reality in many steps. First, a group or performer with an interest in performing at ALLTEL will discuss with Cellar Door, Inc. and the Pavilion the possibility of performing at Issues in Accounting Education, November 2004 The ALLTEL Pavilion Case: Strategy and CVP Analysis 557 the Pavilion, and look at the open dates. Upon reaching an agreement, Cellar Door, on behalf of the Pavilion, signs a contract with the booking agent for the performer. A time is specified for gate openings, and once the gate is opened the show is underway. The job of the staff during a concert is to make sure every customer of the ALLTEL Pavilion has a pleasant experience and that the mission of the company is clearly seen by everyone that â€Å"a concert †¦ it’s better live. † Clean Sweep Inc. of Raleigh handles the cleanup after a show. Key Business Issues Marketing has an important role in the success of the ALLTEL Pavilion, but marketing expenditures are carefully watched. For every show, the marketing budget is limited to $20,000. For many shows it is difficult to stay within the budget, since the Pavilion serves a five-market region consisting of Raleigh-Durham, Fayetteville, Wilmington, Greensboro, and the Carolina Coast. Most of the marketing budget is spent on advertising with radio, TV, and print media in the designated regions. Prior to developing advertising plans, the marketing staff analyzes ticket sales geographically over the five-market region. It is important to know the demographics of the five regions and compare them with the profile for each performer. The more ALLTEL Pavilion can know about the fans, the more they know where to spend the $20,000. SFX develops measures of performance and profitability for each advertising media, by region. This type of analysis is important to the ALLTEL Pavilion because increased ticket sales, through effective advertising, not only affect ticket revenues, but also revenues from parking, merchandise, and concessions. It is also important because of the increased cost of advertising. The advertising rates in the Raleigh-Durham region are comparable to the rates in Washington, D. C. The rates are up 200 percent over the last five years, while the budgets per show are only up 15 percent over this time. The cost of the performing artist has also increased dramatically. The average fee for an artist is approximately $160,000. Some artists are paid on a fixed-fee basis, while others are paid on a per capita basis. Generally, the most popular artists seek a per capita contract because they are confident of a high level of attendance. In contrast, the artist paid a fixed-fee is guaranteed the same fee whether 100 or 20,000 people attend (the capacity of the Pavilion is approximately 20,000 attendance). On average, the total number of paid tickets per fixed-fee concert is 7,000. The role of marketing and advertising is especially important for fixed-fee shows. One method the Pavilion uses in addition to advertising is to distribute â€Å"comp† tickets (comp tickets are free tickets distributed throughout the community) to build interest in the Pavilion that will later be realized in paying customers. Comp customers also bring in revenue for parking, concessions, and merchandise sales. In a fixed-fee concert, the number of comp tickets is approximately 25 percent of the number of paying tickets, while a per capita show has no more than 2. 5 percent. Because of the increasing cost of the performing artists, ALLTEL Pavilion tries to reduce nonartist costs. Nonartist costs at ALLTEL Pavilion include expenses for sales, marketing, parking, security, concessions, and merchandise. Since assuming the manager position, Pam has developed several avenues to reduce nonartist costs and/or increase revenues and profits, including reducing expenses, having the parking service pass out flyers for upcoming events, trading â€Å"comp† tickets for online spots in the radio industry, and giving local businesses tickets in exchange for advertising on their premises. Revenues, Costs, and Flash Report for the KFBS Allstars Concert Exhibit 2 is a mock flash report for an illustrative fixed-fee show, the KFBS Allstars. A flash report is a projection of costs and revenues for a scheduled concert. The guarantee/talent cost ($160,635) is the amount the KFBS Allstars are guaranteed for the show. Projected sales is the number of projected paying ticket holders, while the â€Å"drop count† is total attendance, including both Issues in Accounting Education, November 2004 558 Blocher and Chen paid and comp tickets. Setting ticket price is often done together with the performer, taking into consideration SFX’s national and regional pricing policies, prices of comparable venues, and the Pavilion’s desired profit for the concert. Pam uses the flash report to plan potential concerts and to evaluate the success of concerts already presented. The report shows the variety of revenues and costs for a concert, and the projected profit for the concert. The flash report projects total revenues including ticket sales, parking, food, and merchandise based on per capita (drop count) rates. Ticket sales are in four ticket categories: A seats and B seats are regular price tickets for the reserved and lawn seating sections respectively; C and D seats are promotional (discount) price tickets for reserved and lawn seating, respectively. Other revenues include per capita facility charges paid by the sponsoring corporation for naming rights (based on paid ticket holders) and a per capita service charge paid by the performer for food, transportation, and other services. Not included are the annual lease payments for VIP seats at $10,000 per year. Patrons to the VIP seats also have to pay the ticket price of A-level seats. Reserved and lawn seating areas are shown in Exhibit 1. The parking, food concession, and merchandise operations are outsourced to other service providers, so the direct costs for parking, merchandise and concessions are determined based on contracts with the service providers that include both a percentage (10 percent) of applicable revenues and a fixed fee. Operating expenses include an allocation of the total of fixed production and operations costs for the season, the advertising expenses for the KFBS Allstars event, and other variable expenses. These are then added to the direct costs for concessions, merchandise, parking, and insurance to determine total operating expenses. REQUIRED How would you describe the competitive strategy of the ALLTEL Pavilion? Given the firm’s strategy, what are the critical success factors for the Pavilion to achieve its goal of continuous annual growth in operating income? 2. Complete two selected cost-volume-profit analyses for the show illustrated in Exhibit 2, the KFBS Allstars: a) How many tickets must the ALLTEL Pavilion sell to break even? ) How many tickets must ALLTEL sell to earn $30,000 operating income after taxes, assuming a 40 percent tax rate? 3. What should be the average ticket price for the KFBS concert if the fixed-pay fee is $200,000 and the Pavilion expects to sell 7,000 tickets and wants to earn $30,000 after 40 percent in taxes? 4. Negotiating the fee for the KFBS Allstars: fixed-pay or per capita contracts? a) What is the maximum fixed fee that the Pavilion can pay the KFBS Allstars if the Pavilion wants to earn $45,000 after 40 percent tax and expects the show to have an average ticket price of $22. 12? Assume the show is expected to draw 6,000 paying ticket holders. b) What is the maximum fixed fee that the Pavilion can pay the KFBS Allstars if the Pavilion wants to earn $45,000 after 40 percent tax and expects the show to have an average ticket price of $22. 12? Assume, including 25 percent comp tickets, the show is expected to be a sell-out. c) Independent of (a) and (b), what is the maximum per capita fee that the Pavilion can pay the KFBS Allstars, whose concert is expected to be a sellout, if the Pavilion wants to earn $180,000 after 40 percent tax from an average ticket price of $22. 2 per ticket? 5. What role does CVP analysis and operating leverage play in contract negotiations with different types of performers (fixed-fee or per capita)? 1. Issues in Accounting Education, November 2004 The ALLTEL Pavilion Case: Strategy and CVP Analysis 559 EXHIBIT 1 ALLTEL Pavilion Stage and Seating The Pavilion can accommodate 20,000 fans with 7,000 reserved seats directly in front of th e stage (covered seating in sections 1 through 9 and VIP seating) and another 13,000 on the spacious lawn. It has 78 theater-style VIP boxes that can accommodate 4, 6, or 8 people. In addition to positioning for prime viewing, patrons in VIP boxes also enjoy amenities such as wait staff service at their seats, personalized parking, and exclusive membership to the VIP Bar Grill. Directly in front of sections 4, 5, 8, and 9 is seating with an elevated floor that provides excellent views of the stage for patrons with disabilities and additional seating for the hearing or visually impaired. Lawn Seating Reserved, Covered Seating Issues in Accounting Education, November 2004 560 Blocher and Chen EXHIBIT 2 Flash Report for the KFBS Allstars Concert ARTIST NAME ACTIVITY/EVENT NUMBER EVENT MONTH EVENT DATE Projected Sales (Number of Seats) A Seats B Seats C Seats D Seats TOTAL Number of Seats Projected Ticket Price A Seats B Seats C Seats D Seats PROJECTED NET AFTER TAX ADMISSIONS AVG TIX PRICE NET OF TAX PER PAYING PATRON TALENT % GUARANTEE/TALENT COSTS NUMBER OF PERFORMANCES DROP COUNT (includes comp tickets) Other Ticket-Related Revenue FACILITY CHARGE Per capita SERVICE CHARGE Per capita REVENUE FROM TICKETING Per capita ANCILLARY REVENUES PARKING Per capita FOOD CONCESSION Per capita MERCHANDISE Per capita RENTALS REVENUE FROM ANCILLARIES Per capita TOTAL REVENUE Per capita The KFBS Allstars 10310001 7 7/31/04 2,778 2,845 1,747 881 8,251 $36. 29 $22. 22 $11. 31 $ 4. 92 $182,479 $22. 12 88. 03% $160,635 1 10,349 $24,010 $2. 91 $16,172 $1. 96 $222,673 $26. 99 $19,767 $1. 91 $79,273 $7. 66 $36,428 $3. 52 $0. 00 $135,468 $13. 09 $358,141 $34. 61 (continued on next page) Issues in Accounting Education, November 2004 The ALLTEL Pa vilion Case: Strategy and CVP Analysis 561 EXHIBIT 2 (continued) Other Direct Costs PARKING CONTRACT CONCESSION CONTRACT MERCHANDISE CONTRACT TOTAL DIRECT COSTS Per capita PERCENT OF SALES TOTAL REVENUE (from above) TOTAL DIRECT COSTS (from above) GROSS PROFIT Operating Expenses TOTAL PRODUCTION EXPENSE TOTAL OPERATIONS EXPENSE TOTAL OTHER VAR. EXPENSE TOTAL ADVERTISING EXPENSE TOTAL OPERATING EXP Per capita PERCENT OF SALES OPERATING INCOME Per capita PERCENT OF SALES Detail: Other Concert Variable Expense Insurance Expense per person COGS—Concession per person COGS—Merchandise Inventory per person COGS—Parking per person Other Variable Concert Expense per person TOTAL OTHER VARIABLE EXPENSE $0. 17 $0. 35 $1. 12 $0. 08 $0. 02 $14,323 $4,448 $43,356 $17,826 $226,265 $21. 86 63. 2% $358,141 $226,265 $131,876 $15,506 $14,991 $14,323 $20,030 $64,850 $6. 27 18. 1% $67,026 $6. 48 18. 7% Issues in Accounting Education, November 2004

A Light In August Essays - Television, Light In August, Free Essays

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The Battle of Pichincha

The Battle of Pichincha On May 24, 1822, South American rebel forces under the command of General Antonio Josà © de Sucre and Spanish forces led by Melchor Aymerich clashed on the slopes of Pichincha Volcano, within sight of the city of Quito, Ecuador. The battle was a huge victory for the rebels, destroying once and for all Spanish power in the former Royal Audience of Quito. Background By 1822, Spanish forces in South America were on the run. To the north, Simà ³n Bolà ­var had liberated the Viceroyalty of New Granada (Colombia, Venezuela, Panama, part of Ecuador) in 1819, and to the south, Josà © de San Martà ­n had liberated Argentina and Chile and was moving on Peru. The last major strongholds for royalist forces on the continent were in Peru and around Quito. 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Cultural Stereotypes as Reflected in Literature Essay

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Unemployment research Essay Unemployment From Wikipedia, the free encyclopedia Unemployment (or Joblessness), as defined by the International Labour Organization, occurs when people are without Jobs and they have actively sought work within the past four weeks. [2] The unemployment rate is a measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labour force. In a 2011 news story, BusinessWeek reported, More than 200 million people globally are out of work, a record high, as almost two-thirds of advanced economies and half of eveloping countries are experiencing a slowdown in employment growth, the group There remains considerable theoretical debate regarding the causes, consequences and solutions for unemployment. Classical economics, neoclassical economics and the Austrian School of economics argue that market mechanisms are reliable means of resolving unemployment. citation needed] These theories argue against interventions imposed on the labour market from the outside, such as unionization, minimum wage laws, taxes, and other regulations that they claim discourage the hiring of workers. Keynesian economics emphasizes the cyclical ature of unemployment and recommends interventions it claims will reduce unemployment during recessions. This theory focuses on recurrent supply shocks that suddenly reduce aggregate demand for goods and services and thus reduce demand for workers. Keynesian models recommend government interventions designed to increase demand for workers; these can include financial stimuli, publicly funded Job creation, and expansionist monetary policies. Georgists, half a century before Keynes, also noted the cyclical nature but focused on the role of speculation in land which pushes up economic rent. Because rent must be paid mostly from wages (yield of labor) but also from interest (yield of capital), economic activity cannot be sustained in the rent bubble, which finally burst resulting in recessions or depressions. Once the speculation is wrung out of system the cycle of land speculation begins again. [4] Henry George therefore advocated the taxation of land values (Single Tax) to stop land speculation and in order to eliminate taxation of labor and capital. George opposed land nationalization and Marxs theories. Marxism focuses on the relations between the owners and the workers, whom, it claims, the wners pit against one another in a constant struggle for Jobs and higher wages. The unemployment produced by this struggle is said to benefit the system by reducing wage costs for the owners. For Marxists the causes of and solutions to unemployment require abolishing capitalism and shifting to socialism or communism. In addition to these three comprehensive theories of unemployment, there are a few categorizations of unemployment that are used to more precisely model the effects of unemployment within the economic system. The main types of unemployment include structural unemployment which focuses on structural problems in the conomy and inefficiencies inherent in labour markets including a mismatch between the supply and demand ot laborers witn necessary skill sets . Structural arguments emphasize causes and solutions related to disruptive technologies and globalization. Discussions of frictional unemployment focus on voluntary decisions to work based on each individuals valuation of their own work and how that compares to current wage rates plus the time and effort required to find a Job. Causes and solutions for frictional unemployment often address barriers to entry and wage rates. Behavioral economists highlight individual biases in decision making and often nvolve problems and solutions concerning sticky wages and efficiency wages.

Borderline Personality Disorder :: essays research papers

Why Are Women Diagnosed With Borderline Personality Disorder More Than Men? Borderline Personality Disorder is diagnosed predominantly in females. There is approximately a 3:1 female to male gender ratio for this disorder. Theories of why Borderline Personality Disorder occurs more often in women -  Ã‚  Ã‚  Ã‚  Ã‚  Sexual abuse, which is common in childhood histories of borderline patients, happens more often to women than men. - Women experience more inconsistent and invalidating messages in this society. -  Ã‚  Ã‚  Ã‚  Ã‚  Women are more vulnerable to BPD because they are socialized to be more dependent on others and more sensitive to rejection. -  Ã‚  Ã‚  Ã‚  Ã‚  Clinicians tend to be biased. Studies have shown that mental health professionals tend to diagnose BPD more often in women than in men, even when patient profiles are identical except for the gender of the patient. -  Ã‚  Ã‚  Ã‚  Ã‚  Men seek psychiatric help less often. -  Ã‚  Ã‚  Ã‚  Ã‚  Men are more likely to be treated only for their alcoholism or substance abuse; their borderline symptoms go unnoticed because BPD is assumed to be a women’s disorder. -  Ã‚  Ã‚  Ã‚  Ã‚  Female borderlines are in the mental health system; male borderlines are in jail. (www.bpdcentral.com) Skodol, A. & Bender, D (2003) have also addressed several theories as to the gender bias with this diagnosis. Their research on gender bias in borderline personality disorder indicates that: -  Ã‚  Ã‚  Ã‚  Ã‚  The elevated base rate of women in clinical settings may be one of the reasons why clinicians perceive more women to have BPD. -  Ã‚  Ã‚  Ã‚  Ã‚  Women and men present with different symptoms patterns, such as the criterion of identity disturbance, which tends to be significantly more common among women. -  Ã‚  Ã‚  Ã‚  Ã‚  Female patients tend to receive unwarranted diagnoses of BPD more often when the clinician is a women, which suggests less acceptance of borderline-like traits and behaviors in women by women. -  Ã‚  Ã‚  Ã‚  Ã‚  Sampling bias in research -  Ã‚  Ã‚  Ã‚  Ã‚  Biological differences in which men show more aggression and externalizing behavior patterns and women show more behavioral inhibition and internalizing. -  Ã‚  Ã‚  Ã‚  Ã‚  Sociocultural differences Johnson, DM., Shea M.

Southern Hospitality

Imagine living near your entire family in your hometown. Imagine that one of those people is your 6 months pregnant fiancee. Now imagine the fact that you have just received a job opportunity some 900 miles away, and the best thing for your future family is to take that job. What would you do? There are three major things that affect you and your life when you move away from home. Those three things are, missing your family, adapting to new living conditions, and expanding your responsibilities as a person and eventually a parent. When you live any distance away from your family, you will miss them with varied amounts of difficulty. Some of us have no problem missing our families, however. When I was eighteen years old I joined the United States Air Force. My first duty assignment was RAF Mildenhall, England. After the first year I became accustomed to missing my family. The largest difference about this move from Michigan to Georgia was, in fact, that I was engaged and that my fiancee was six months pregnant with my son, Derek. This was the most difficult thing I had ever had to endure as a person. When I first moved, she didn’t immediately want to move with me because it was much easier to move by myself, because we had no money, and no place to live. Eventually, after about three months and the birth of our son, she moved down with the help of her parents, and grandparents. When I first arrived in Georgia, it was much hotter than Michigan. Remember now, that I’ve lived in two different places in my life. The first place was Michigan, with its icy and brash winters and mild to medium summers. The second place, being England, with is bone chilling still aired winters and extremely mild summers. Now we move to Georgia with its extremely tolerable winters and scorching hot summers. Think about the differences here and imagine how much anyone would have to adapt to those differences. When I first moved here I had a ratty old Ford Explorer with no air conditioning and only two windows that worked. There was an immediate difficulty trying to regulate body temperature when such extremes are encountered. One thing that helped adapt to it was the friendly people that the â€Å"south† is so famous for. Everywhere you went, someone would say, â€Å"How are you hun? † or â€Å"Can we get you something sweetie? † This is one thing that anyone could get used to experiencing every day. All of these things have helped me grow into a better person. When I found out that my fiancee was in labor, it was an unbearable situation to deal with. I was able to take off of work for two weeks so I could make the sixteen hour drive back to Michigan to be with my family and see the birth of my son. When I made it back, I was able to witness the birth of my son. It was the single-handed most exciting moment and day of my life. After the two week â€Å"vacation† I had to make the trip back to Georgia, again, without my family. Now if that doesn’t make your stomach churn, I’m not sure what will. That was the most difficult thing I’d ever had to do. Think about the things that make you who you are. If I am having difficulty with anything in my life, I think of my children and one simple verse. Philippians 4:13 which reads, â€Å"I can do all things in God who gives me strength. †

Responding Techniques

Responding and summarizing begins with using active and responding where I preview the author’s background as well as the writing context. Summarizing accurately and objectively represent key ideas. A summary cites the author and title, quotes key phrases or sentences directly and describe the main ideas and feature of a text. Responding is critiquing the ideas in the text. Responding technique gives responses that may agree or disagree with the argument in the text.Responses may analyze the argument, organization or quality of evidence in the text; and/or they may reflect on assumptions or implications. Summary includes main ideas and key features while a response includes my reactions, comments and questions. A summary gives a reader an objective and condensed account of the main ideas and features of a text while a response. A response should include own perspective, experiences, attitudes and beliefs that will guide in a particular response.To make it effective, a response paper effective, I need to say what I think and show why I think so. The response should show the relationship between my opinions and the argument in the text. A response requires analyzing the effectiveness of the text, agreeing or disagreeing with the author’s ideas and interpreting and reflecting on the text. Responses must be supported by evidence, facts, examples and details.Personal experience, evidence form the text and other texts form supporting evidence for good responses. In responses, there is need for in text citations like sentences and phrases. Ideas from other books, essays and articles are relevant. Usually, summary appears first and then the reader’s response. The two parts are carefully integrated where the response focuses quickly on the main idea summarized. Use a clear transition from the summary and response or integrate both the summary and response throughout.

The Matrix

The Matrix The Matrix A Pop Culture Fusion of Western Literature Literary Masterpieces ? Professor Hirschberg ? 12/6/00 Initially, I didn?t get it. Having heard that the Matrix was a smooth sci-fi fusion of virtual reality, amazing martial arts effects, and philosophical undertones I took my girlfriend to see it at the local theater as soon as she was back from college. The special effects were truly breathtaking: I found myself dumbfounded at the first fight scene as the camera panned 180‚Â ° around a hovering Trinity before she delivered a lethal flying center kick to the police officer foolish enough to try to arrest her. I have to admit, though, that as the movie progressed I found myself struggling to keep up with the plot line. By the time the movie ended with Keanu Reeves? character ascending into the sky, I had that warm, fuzzy feeling that the protagonist had won out in the end?I just wasn?t sure why.English: User:Spencerian and close friend, dressed...It wasn?t until having watch ed the movie several times that I could appreciate its storyline, and then several more times that I could appreciate its complexity. Not only does the movie appeal to my enthusiasm for technology and my lust for martial arts acrobatics, it also appeals to my interest in early Western and postmodern thought and Christian theology. Apparently, according to box office numbers and the rise of Matrix ?web rings? and chat sites, I am not alone in my fondness of this movie.Since its debut in April of 1999, The Matrix has grossed over $171 million in the box office, putting it in the top 100 moneymaking films of all time. The movie has also drawn over $500 million in DVD sales, making it the most sought-after DVD video of 1999. Several ?web rings? have sprung up all over the...

Mergers & Acquisitions Essay Example | Topics and Well Written Essays - 2000 words

Mergers & Acquisitions - Essay Example A merger takes place when the firms involved in the combination are of unequal size. The larger or stronger firm continues to exist because of its stronger bargaining power and the smaller or weaker firms go out of existence. Four periods of economic history have witnessed very high levels of merger activity, which are called a merger waves. These periods are characterized by cyclical activity i.e. large number of mergers followed by relatively fewer mergers ((ICMR), 2003). The current period is called as the fifth wave. In the first three waves, merger activity was concentrated in the United States of America. The fourth and the fifth waves were global in nature though the impact of the wave is most pronounced in the United States of America. First Wave The first merger wave occurred after the depression of 1883. It peaked between 1898 and1902 though it began in 1897 and ended in 1904. The merger had the greatest impact on eight specific industries i.e. primary metals, bituminous coal, food products, chemicals, machinery, transportation equipment, petroleum and fabricated metal products. These industries accounted for almost two – thirds of the total mergers during these periods.The mergers in the first wave were predominantly horizontal combinations. These resulting industrial consolidations led to creation of large monopolies. For example, US steel founded by J P Morgan merged with Carnegie Steel founded by Andrew Carnegie.The merged firm US Steel also acquired several other smaller steel producers and the resulting giant capture 75% of the steel market of the United States of America. ... Second Wave The second merger wave occurred between 1916 and 1929. George Stigler, a winner of the Nobel Prize in Economics, has contrasted the first wave as "merging for monopoly" and the second wave as "merging for oligopoly." The consolidation pattern resulted in the emergence of oligopolistic industrial structures. The second wave was primarily fuelled by the post World War I boom in America Economy and a buoyant capital market. The second merger wave lasted until the Great Depression. The wave ended with the stock market crash on the "Black Thursday" i.e. October 29th of the year 1929, when the stock market witnessed one of the steepest stock price falls in history. Some of the corporate giants like General Motors, International Business Machines (IBM), Union Carbide, and John Deere etc., are a product of this era. Third Wave The third merger wave occurred during 1965 to 1969. This wave featured a historically high level of merger activity. One of the reasons for this factor is that this wave occurred in the background of a booming American Economy. One of the new trends started by this wave was the acquisition of larger companies by smaller companies. In the waves prior to this, the acquirer was always bigger in size than the target. A large proportion of transactions that took place during this wave were conglomerate transactions. The conglomerates formed during this period were highly diversified and simultaneously operated in several unrelated industries. For example, during the sixties ITT acquired such diversified businesses like car rental firms, bakeries, consumer credit agencies, luxury hotels, airport parking firms,

Character biography of Wintertime by Charles L. Mee Essay

Character biography of Wintertime by Charles L. Mee - Essay Example Although she is married, Maria is happy to stay in an illicit relationship with her lover Frank. She invents her own views on love in order to justify the complex relationships that define her social life. Maria emphasizes on the value of her freedom on matters of love, family and the discourse of sex. For instance, she reinvents the aspect of womanhood by projecting views that appear abnormal to the larger society. Her philosophies on matters of sex appear to be idiosyncratic and even rebellious. She tells her husband about the desire of a woman to engage in some form of wild sexual engagements and deliberate deviation from the order and tranquility of the domestic space without a free conscience that operates on the sidelines of the acceptable. Although she admits her love deep love for Francois, he shocks him by admitting that she reserves every Friday night for a routine sexual relationship with Frank (Mee 6). This sense of strange freedom and order unsettles Francois whose conce pt of love appears to be bound in philosophies that are more conventional than Maria’s is. A clear understanding of Maria’s peculiar approach to life could gbe drawn from a comparative assessment between her views on love and those projected by Ariel. The two women have exactly opposite views about then discourse of love. While Ariel indulges her mind in the innocence of youth by upholding the sublime and real element of love, Maria takes an opposite view by establishing categories of love. For instance, she views love in two broad perspectives. One of the perspectives is about romantic love. Maria believes that romantic love should be separate from the other kind of love that attaches couples in a marriage. She reminds Frank, her husband, that she never intended to love him in a romantic kind of love. She only loves him as some kind of duty that a wife ordinarily owes to her husband. Maria’s personality has a redemptive effect to the social disadvantages that w omen have to endure because of traditions, values, and expectations. She presents life in terms of a sum total of her own views and the practical things of life. Maria lives in a conservative society. This society demands women to live in accordance with specific laws and specifications. There is a patriarchal undertone in the dominant philosophies that undergird perspectives and reactions. As a result, she rebels and creates a world that would accommodate the feelings and opinions of a liberal woman (Case and Elaine 56). Her defiance could be understood as a rebellion against the domestic space. She affirms ownership of the Winterhouse and does not regard Frank in any terms larger than a companion. She comes to the defense of fellow women whenever situations demand. In this manner, Maria could be considered as an influential matriarch of women liberation with a deep desire to create an alternative frame of reference for the conquered women in the society. On this score, it makes se nse to consider her attitude in terms of the multiple challenges that are systematically created to stifle the course of women empowerment. Normally, the society would want to convert Maria into an ideal woman who dutifully plays the role of wife and mother in total submission. Instead, Maria appears to be untamed and subscribing to strange philosophies that define her relationship to both Francois and Frank. She is a strong defender of women freedom