What is an Anti-Villain (With Definitions and Examples)

What is an Antis) What is an Antis) A Song of Ice and Fire has held the hearts of imagination perusers for as long as 20 years, and Marvel motion pictures have been ruling film screens for 10 years. So you may be pondering: what makes these establishments so convincing? The appropriate response? Against villains.These days, individuals need more than high contrast characters (heroes who are naturally acceptable and enemies who are innately awful). They need imperfect legends who battle to do their objectives, and complex miscreants with backstories and thought processes that show their humankind. Enter: screw-ups and enemies of miscreants. As it were, characters who challenge their abstract conventions.This post will cover the last character type, and we’ll start by addressing the inquiry... What's a hostile to lowlife and for what reason would they say they are so famous nowadays? What is an enemy of villain?Anti-reprobates have honorable attributes, qualities, and objectives, yet how they make progress toward those objectives is frequently flawed - or out and out loathsome. Like conventional scalawags, enemies of reprobates hold up traffic of the hero’s objective. Be that as it may, not at all like a customary â€Å"bad guy,† the counter scoundrel isn’t fundamentally detestable. Beginning to ponder about each miscreant you’ve ever perused? How was Maleficent’s adolescence? Did Bane simply require an embrace? Maybe the Sheriff of Nottingham was simply misunderstood?To assist you with plotting out your own ethically dark characters, look at the accompanying supportive blog entries about creating critical characters.Character Development: How to Write Characters Your Readers Won't Forget 9 Common Types of Fantasy Characters (With Examples) Instructions to Write a Compelling Character Arc 12 Character Archetypes Every Writer Should Know Instructions to Create a Character Profile: the Ultimate Guide (with Template)Did we miss any significant enemies of reprobates you think merit a notice! Drop their name - or some other considerations or questions - in the remarks beneath!

William Seward, John Calhoun, and Daniel Webster free essay sample

Each of them three built up themselves for patriot causes, however they had various perspectives on servitude. Seward contradicted bondage, while Calhoun was professional subjugation, while Webster took a sheltered ground by making bargains to both ace and abolitionist servitude states. Seward rose to political noticeable quality in New York in the sasss, serving in the state He was portrayed as liberal, energetic, jovial, and imprudent. The ruling issue of whether to permit the augmentation of servitude into the recently gained western regions encouraged to risk the Senate when Congress assembled in December 1849. Seward rose on the Senate floor to convey a discourse that he called Freedom in the New Territories. The new representative went through a few extraordinary weeks on the planning of his announcement, understanding that it could be taken as the Norths answer to Calhoun. Seward recognized that the Constitutions composer had perceived the being of subjection and ensured it where it existed, yet the new domain was represented by a higher law than the Constitution an ethical law built up by the maker or god. We will compose a custom article test on William Seward, John Calhoun, and Daniel Webster or on the other hand any comparative point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page The New York representative, was against all administrative trade off as drastically off-base and basically horrible, requested that California be considered as a free state. He cautioned the South that servitude was bound and that a resistance from the Union would occur. The discourse rushed the Whig partys division into propellers and abolitionist points of view and contracted a large number of his regular partners. After 10 years, in 1 860 and 1861, as southern states started to revolt, Seward turned out to be increasingly latent in his mentality toward the South, looking for tranquil techniques for settling the deliver and dodging war. A month after Henry Clays two-day discourse on the Compromise of 1850, a mortally sick John C. Calhoun called the solidarity to compose an answer, which his associate James Mason read to the Senate on March 4. Calhoun requested that the Senate regard the Souths foundations and to secure its financial ways against northern endeavors to restrict bondage and advance mechanical over farming interests. Calhoun had found in his own State how the spread Of bondage into the backwoods improved ethics by constraining the field of he wrong doing poor whites who had once threatened the decent center class.Calhoun accepted that subjection imparted in the white who stayed a code of respect that blunted the problematic capability of private increase and encouraged the municipal mindedness that lay close deeply of the republican belief. From this point of view, the development of subjugation into the backwoods diminished the probability for social clash and halted the issues when cash would turn int o the main proportion of self-esteem, similar to what occurred in New England. Calhoun was persuaded that subjugation was the way in to the achievement of American dreams. Webster saw subjugation as an issue of reality as opposed to moral guideline. He contended that the issue of its reality in the domains had been settled quite a while in the past when Congress disallowed subjugation in the Northwest Ordinance of 1787 and split locales into slave and free in the 1 820 Missouri Compromise. He accepted that bondages presence couldn't be destroyed yet in addition that it couldn't happen in the recently agronomically fruitless terrains of the southwest.Attacking radical abolitionists to improve his believability with southerners, Webster requested that northerners regard servitude in the South and to help in the arrival of outlaw captives to their proprietors. He joined Clay in notice that the association would never be settled calmly. The Compromise of 1 850 was a progression of five bills that were expected to keep off sectional difficulty. Its objective was to manage the spread of subjection to domains so as to keep northern and southern interests pers on. All through this fight, these three men had solid perspective that were communicated in their speeches.The bill came to pass and bondage was canceled. Had the Compromise of 1 850 not passed, the country would have ejected in common war, and the probability of a Northern triumph would have been substantially less. It is likely that would not have a US of America today on the off chance that it wasnt for the endeavors of Henry Clay, John C. Calhoun, and Daniel Webster making and passing the Compromise Of 1850. With respect to William Seward, he made extraordinary focuses In his discourse, however the United States as we probably am aware it, would not exist, had his words produced results.

Im on a boat!

I’m on a boat! Im ridin on a dolphin, doin flips and sh** Well, I kinda wish Id been ridin on a dolphin, doin flips and sh**, but I wasnt. Instead, I was at the Burton-Conner boat cruise! No. Not this. This. Heres how it works. Every year our dorm pays for us to go on a really nice, dinner boat cruise, no charge. Each year everybody dresses up and dances the night away after eating delicious food, dessert, and coffee. Each year I dress up, eat delicious food, dessert, coffee, and am bugged and pestered to dance. Every year I fight back. No! I dont dance! Let me be the awkward guy who watches! No! Dont make me! Noooooo! and then every year I lose, end up dancing, and having a good time. Funny how these things work. But, I digress. The evening started with us loading onto the boat, each of us humming Im on a boat, eagerly awaiting our opportunity to be on a boat. Once on board we mingled for a bit, took some pictures, and then it was FOOD TIME! The food this year was delicious, better than last year. So good that I fiercely defended my plate against food stealers. Then it was time to head outside and enjoy the boatiness of the boat. An obvious photo-opp for the Sophomore Guys. We stared at buoys, enjoyed the skyline, and then it was dancing time! This is always the fun time for me, because I dont dance. But Snively, everybody dances! All you have to do is move to the music. No. Not me. Im the awkward white kid who doesnt dance. Too bad my floor disagrees and decided that by the end of the night I was going to be forced to dance. Some standard songs got played, people danced, and then there was a dance off between our housemaster and Malcom. Needless to say, our housemaster won (sorry Malcom), and as evidence I offer you this video of him shaking his hips to the hokey-pokey. (he doesnt know this video is on the Internet) Next came my moment to shine. The DJ yelled Hey, what song next guys? and everybody stood there quiet until Dorothy 12 from across the hall yelled Im on a Boat! The DJ yelled Yeah! and pulled it up. He then pointed right at Dorothy and yelled Everybody off the dance floor, this girl dances alone! Here we go! The dance floor emptied. Dorothy stood in the middle. *boom boom boom* Ahhhhh sh**, get your towels ready Its about to go down Dorothy is rockin it, but still all alone on the dance floor, being stared at. At this point I decide to make peace with the world, swallow any embarrassment and reservations I may have, and do my duty to the Lonely Island. Everybody in the place hit the ****ing deck But stay on your mother****ing toes, Here I go! Were running this, lets go I break through the people blocking the dance floor, jump out into the middle of the floor next to Dorothy, turn into the least-white (but still mostly white) gangster I can manage, and join in. Thats right, I actually ran out in front of my entire dorm and started dancing, something that I never anticipated happening. Ever. Im on a boat, Im on a boat, everybody look at me cause Im sailing on a boat! My floor followed suit, poured onto the dance floor, and then the rest of the dorm joined in and we had the most boat-r-ific dance party ever. The only thing that would have made it better is if we all had nautical themed Pashmina Afghans. I stayed on the dance floor, believe it or not, even though the next song was Soulja Boy. I even got convinced to dance more (including a conga line that tricked me by disbanding right as I was in the middle of the crowd), making it the most dancing-est night of my life (maybe true? maybe sad? Im not sure). By the end I was tired, grabbed another cup of coffee, played some cards, and then it was time to get off the boat :( Now were all back on land, all danced out, and ready to push through to the end of the year. Finals in 2 weeks! Brass Rats in 1 week! Back to Oregon in 3 weeks! ITS ALL SO CLOSE! Post Tagged #Burton-Conner House

Technologies Required For E Commerce - 1864 Words

Technologies required for E-Commerce In this report, I am going to explain the technologies which are required for e-commerce as well as the technologies that might be required by Cuckoo – a small business selling clocks and watches that is willing to expand via the internet. The technologies which I will be justifying include the hardware, software and networking needed for e-commerce. The technologies that are required for E-commerce include; †¢ Web servers †¢ Web browsers †¢ Server software †¢ Web authoring tools †¢ Database System †¢ TCP/IP Addresses †¢ Ports †¢ Protocols †¢ Domain names †¢ Multiple Registrations of Domains: †¢ Programming Requirements: †¢ Download Speeds †¢ Browser and Platform Compatibility Hardware and Software A web server is†¦show more content†¦The software interacts with the hardware infrastructure as well as the processor, memory, storage, input/output and other communication ports. There are different types of server software’s which are available to but all focus their primary objective on using the built in computer capacity and resources. Cuckoo will not need a cloud based server as they are a small business which will not need to access their document from any computer but their own. However they will need a virtual server software in order to keep track of appointments, suppliers, receipts, customer information and etc. Web authoring tools make it possible to create and design web pages in ease as it requires to be less technical to make. These include software applications such as Dreamweaver and Microsoft Front Page. Cuckoo can use these software’s to create their own web pages however it will give off a less professional look if using Dreamweaver if they would like to save on money. However if they are experienced and know of other web authoring tools to make web pages, then it can benefit them graciously. On the whole, Cuckoo will not need this as it does not hold much significance if they have not created the website themselves. Database system on e-commerce website organises all of the data on a computer system which is a back-end storing the catalogue of products, customer records and other business information. The software which is used is similar to another application known asShow MoreRelatedUnderstanding The Technologies Required For E Commerce1530 Words   |  7 PagesAssignment 1: Understanding the technologies required for e-commerce Shops are capable of being placed into three categories to separate and even differentiate them by how they trade, the first being ‘Bricks’. These shops/businesses have no other way of trading other than customer facing outlets requiring physical transaction of products. Businesses that would be categorized as ‘Bricks’ would usually be small retailers such as local grocery stores and small local restaurant’s. The second categoryRead MoreP1 Describe The Technologies Required For E Commerce1664 Words   |  7 Pages Assignment 1 Client information P1 Describe the technologies required for e-commerce The technologies required for an e-commerce are as follows: server software, pc, and database, web authoring tools, web server, ports, TCP/IP and the browsers. I will be explaining why these technologies are required for an e-commerce. Web servers A web server is a PC that opens pages on a browser on request. It sends the web address of the page that has been requested to the web browser. They have an IP addressRead MoreP1 : Describe The Technologies Required For E Commerce1703 Words   |  7 PagesP1: - Describe the technologies required for e-commerce Introduction: - in this task I am going to develop an information guide for ‘The Dream Tin’, a business considering whether or not to trade using e-commerce. I will describe the purpose of the e-commerce and many other things. Also I will provide some examples of the different types of services and products. e-commerce: - EC is buying and selling the items by using the electronic network like Internet. Seller can sell the product on theRead MoreImpact Of E Commerce On Global Economy1352 Words   |  6 PagesIntroduction Impact of E-Commerce on Global Economy It is exciting area especially E-Commerce. The advancement in World Wide Web, computers and mobile wireless communication technologies are transforming the way business is conducted. The success stories of Amazon, eBay are few examples. New technologies have provided the required platform for innovation, growth, shopping convenience, and price advantage due to the boundary less competition. Business leaders across the industry are developingRead MoreE Commerce Systems : A Non Profit Organisation1512 Words   |  7 PagesUnit 8 E-commerce systems 25/10/2014 Kazi Rashid: RAS14002716 Scenario Newham Charity UK is a non-profit organisation that donates money to several charities throughout the year. They are presently working with system and business analysts to set up a fully networked computer system to help introduce e-commerce as part of its operations. The project will take many weeks to develop the system. The charity has asked me as a consultant to explain the impact of e-commerce of a business. The CharityRead MoreLogistics : Logistics And Distribution Of Physical Goods Essay1166 Words   |  5 PagesIntroduction Source: Leeway Logistics, 2015 Logistics is considered as an operational process which includes activities such as storing, transporting and distribution of physical goods. E- Commerce has made a big change in logistics and distribution processes. Due to introduction of online purchases, way of handling materials have also been changed. Online retail industry is being expanded year to year. According to Goldman Sachs, Online Sales will reach $750B mark by 2016 with annual growthRead MoreE Commerce Vs. Electronic Commerce1527 Words   |  7 PagesThere are plenty of ways to define the definition of E-commerce. For example, according to the Oxford Dictionary, E-commerce or electronic commerce is the commercial transaction that conducted electronically on the Internet. Some people define E-commerce as the processes of buying, selling, or exchanging products, services, and information by using the computer network technology such as the Internet. E-commerce does not only provide the function of buying and selling goo ds and services online viaRead MoreImpacts Of Technology E Commerce1471 Words   |  6 Pagesï » ¿Impact of Technology in Business – E-Commerce Since the introduction of the Internet in the 1950’s, development of technology began for use by the military until it was soon introduced to the public for commercial and private use. Throughout the decades ever since, technology was then on the road to sudden rapid expansion, with a big boom in new hardware, software and internet capabilities such as faster computer speeds, faster internet connections and efficient software. Convenient services appearedRead MoreApplication Of Electronic Commerce ( E Commerce ) On Small Medium Enterprise ( Sme )1455 Words   |  6 PagesImplementation of electronic commerce (e-commerce) on Small Medium Enterprise (SME) In this globalization era, new businesses are emerging and developing very rapidly where competition between businesses are becoming more aggressive. This situation may impact on small business or familiar with small and medium enterprise (SME). In order to survive and stay competitive, SMEs implements a vary of approaches or strategies, such as by adopting internet-based or web based (e-commerce) in their business. ManyRead MoreBusiness Skills for Ecommerce1474 Words   |  6 PagesRDI/EDEXCEL Level 4 BTEC Higher Nationals Computing and Systems Development Business Skills for e-Commerce Assignment Tutor: Steve Presland 1 Introduction This assignment will enable you to apply the business skills needed to design an eCommerce solution for a music production company. You will need to consider the organisation and processes of the company and consider what the impact of the Internet and e-Commerce has been on the company. Answers to the tasks will demonstrate: 1: An understanding of

Bourgeoisie And Industrialism - 1154 Words

In the wood carvings created in 1846, two separate images depict a model welfare institution for orphaned girls and boys in Germany during the early years of industrialization. Both images portray a glorified view of the Bourgeoisie, who were owners of the means of production, and the Proletariat, members of the working class. These two social classes propelled the Industrial Revolution in Europe. The two images titled Orphaned Girls and Boys in a Welfare Institution, present an idealized situation of the Industrial Revolution and argue that the Bourgeoisie depended on the labor of the Proletariat for economic prosperity and survival. The Industrial Revolution began in England during the early nineteenth century when demand for iron and†¦show more content†¦Members of the Proletariat became forced to sell their manual labor to the Bourgeoisie to live. The Bourgeoisie and Proletariat worked closely together but quickly developed a one-sided relationship with the Bourgeoisie controlling work hours and wages. The first of the two carvings, titled Orphaned Girls and Boys in a Welfare Institution, claim it was vital for young girls during the Industrial Revolution to learn how to sew correctly. The Industrial Revolution called upon every man and woman to produce material goods. To maximize production, the Bourgeoisie became forced to increase their labor force and had to teach young girls necessary trade skills. In the orphanage, some girls seem confused and do not know how to sew because they are staying away from their work (Image 1). The Bourgeoisie are unable to gain economic wealth when members of their labor force were unable to assemble a product or material correctly. Additionally, in the far right corner of the image, the leader of the orphanage punished a girl, yet she still sews (Image 1), which indicates that even though the girl committed an egregious act, the Bourgeoisie still depended on her labor because they still needed to meet the daily quota. Marxism agrees with the argument made by the first image: the Bourgeoisie depending on the labor of the Proletariat for economic survival.Show MoreRelatedAnalysis Of George Orwell s The Road Of Wigan Pier 1590 Words   |  7 Pagessocialist active during the 1930’s, was chosen to write a book about poverty, unemployment and living conditions of the working class by the Left Book Club. His book, The Road to Wigan Pier, revealed industrialism as the fundamental issue within English society and its effects on a depressed England. Industrialism, at the root of his argument, acts as the leading contributor to the harsh working conditions in mining towns and the astronomical poverty levels, but, also, the idea that socialism is the onlyRead MoreThe Invention Of The Industrial Revolution912 Words   |  4 Pagesfactory systems existed because there was a surplus of willing labor, people worked up to 12 hour shifts with little to no breaks and they were constantly being supervised to maximize efficiency. There were also moral opponents to the newfound industrialism. William Blake called factories â€Å"satanic mills.† In coal mines people often worked naked or half dressed and young girls were left unsupervised around grown men. With the expansion of the population, the economy grew exponentially as well. ManchesterRead MoreAn Analysis Of Thomas Hardy s Of The D Urbervilles854 Words   |  4 Pagesauthor also shows as industrialism in Britain. For example, Marxist critic Raymond Williams in his The English Novel From Dickens to Lawrence questions the identification of Tess with a peasantry destroyed by industrialization. â€Å"Williams sees Tess not as a peasant, but an educated member of the rural working class, who suffers a tragedy through being thwarted, in her aspirations to socially rise and her desire for a good life, not by industrialism, but by the landed bourgeoisie , liberal idealismRead MoreMarx and Durkheim and their Theories of Capitalism and Industrialism1735 Words   |  7 Pagesprimarily to study book knowledge and writing in the hope to become priests. This paper will focus on two main sociologists: Marx and Durkheim and their theories of Capitalism and Industrialism. The founder of ‘Marxism’was a German philosopher and sociologist named Karl Marx. Marx saw education as a way of allowing the Bourgeoisie (upper class) to keep control of the Proletariat (working classes) using only ideas and concepts rather than force. Marxists would consider the school system to be based uponRead More How religion was affected by Industrialization Essay1368 Words   |  6 Pagesincreasing labor demands.6 As production increased, the population increased and there was a migration from the countryside to the cities. The Industrial Revolution prompted the development of the proletariat (the working class) and the bourgeoisie (the middle class). The working class provided the manual labor required in the factories and the middle class were the owners of the factories. Most factory workers were former peasants, often from the poorest, landless category. The key divisionRead MoreThe Scarlet Letter By Nathaniel Hawthorne1389 Words   |  6 Pagesand more product to trade increasing capitalism. Marxism refers to the profit difference of what goods are sold for and what the actually cost to make as surplus profit. Marxism refers to capitalism as not only an economic system of trade and industrialism but also as a political system as well. Education is largely shaped by capitalism. Absence of education would cause the economy to plummet and leave many without jobs and employment w hich keeps society moving. Marxism has an investigative approachRead MoreThe Rise Of Labor Unions, Strikes, Protests And Uprisings Essay2145 Words   |  9 Pageswas witnessing a boom in production as industrialism became more and more prominent. The gap between the rich and the poor continued to widen and eventually would evolve to create a new class. The Marxism theory identified the rise of the bourgeoisie and the proletariat; the bourgeoisie consisted of those who owned capital and supplied the means of production while the proletariat were the laborers who owned only their labor and offered it up to the bourgeoisie in return for wages. According to theRead MoreComparison Of Karl Marx And Marx On Capitalism And Economic Inequality1458 Words   |  6 Pagesrespectively. Marx is one of the prominent economists who advocated for the idea of capitalism. He saw capitalism as an advanced historical stage but that it would however stagnate and be overtaken by socialism. He referred to the wealthy as the bourgeoisie and they are the ones who owned the means of production. On the other hand the underclass are referred to as the proletariat and were the major producers of labor Marx claims that the major proponent of capitalism is the relationship between whichRead MoreEssay about Change and Continuity in the Guilded Age1194 Words   |  5 Pagesmarket. It promotes private or corporate ownership of goods from investments based upon price, production, and distribution of goods. This new idea tended to promise wealth and stability, but when the distinction between the working lower class and bourgeoisie became more evident, people were irritated. Capitalism began to exploit the greed in man and bring fear to the strongest of wills. Many dreamed of this as th e golden age of man kind and saw new prosperity as a benefit for all â€Å"for how could thereRead MoreAn Analysis Of Eve To Her Daughters By Judith Wright712 Words   |  3 PagesAustralian is manipulated by the process of interpellation, coined by Louis Althusser, to believe that the European colonisers are superior to themselves. Wright states that the society of her time that is reflected in the poem values European industrialism and desires to change other lands to fits these. Eve to Her Daughters also explores and criticises society’s obsession with material possessions. Australian society absorbed many European ideals and social theories, like capitalism, as a part of

Compare and Contrast Religion during Reformation,...

The periods during the Reformation, Industrial Revolution, and the World at War all experienced religious and church conflicts. During the Renaissance and Reformation (1330 – 1650), the fundamental practices of the church came under fire. The church at this time was the largest and most political body. The pope, himself, was the most recognizable political figure. It was due to this authority that the church and its pope were more interested in political issues and less with the spiritual needs of the people (McGraw-Hill, p. 76). Many of the Roman Catholic Church’s high priests had bought their way into position and had very little religious experience. Often the only members of the community that were literate were the clergy thus†¦show more content†¦Prior to the industrial revolution, social values centered on being thrifty, focus of saving, and staying out of debt. Afterwards, consumption was the norm (http://www4.ncsu.edu/unity/users/p/pwhmds/indrev.ht ml). The concept of instant gratification became reinforced. As a result, the church and its teachings became less important along with their long term salvation. Factory workers worked in excess of 60 hours per week and included all members of the family. They worked for little wages and the conditions were harsh. As people turned to the church, little encouragement or support was provided. The church became passive in their members struggles. It did not encourage them to stand up for themselves. Instead the church favored the newly rich members and left the factory workers abandoned. This is in such contrast to the Reformation and Revolution period in which the church controlled all parts of one’s life. New scientific ideas also put religion and the beliefs of church doctrines in turmoil. As humanism during the Reformation and Revolution period brought into question predestination and salvation, science brought into question the literal words of the Bible. Darwinâ€℠¢s concept of natural selection brought into question the entire belief of Creationism and the existence of one great God. His philosophy could not grasp the concept of predestination much as Humanism movement did during the Reformation andShow MoreRelatedAge of Enlightenment and Century5169 Words   |  21 Pagesintellectual and cultural tradition? 2. 81: Compare the ways in which two works of art reproduced below express the artistic, philosophical and cultural values of their times. (Pictures of Michelangelo s David and Giacometti s Man Pointing 1947). 3. 82: Compare and contrast the cultural values of the Enlightenment with those of the sixteenth century Northern Renaissance. 4. 84: Compare and contrast the views of Machiavelli and Rousseau on human natureRead MoreInfluence Of Science And Religion1564 Words   |  7 Pages1. Q) Compare and contrast the influence of science and religion in the development of humanity. Discuss both the positive and the negative. A) The systematic testing of observations, and the belief of something larger than ourselves, have been part of the human experience since time began. Both science and religion have influenced human thought and civilization. When a question could not be answered by time and observation, people fell back on spiritual explanationsRead MoreThe Differences and Similarities of the Ottoman Empire and Early Modern Europe2119 Words   |  9 Pagesreally stuck out and peaked my interest the most. They were the Ottoman Empire and Early Modern Europe. If you compare and contrast both the Ottoman Empire and Early Modern Europe during the 16th Century through the 18th Century, you will see that there are a number of similarities as well as differences when you look at the expansion of the states. You will also see many of these contrasts as well when you look in terms of each states military and commerce. Although the Ottoman Empire existed beforeRead MoreThe Essential Questions5521 Words   |  23 Pagesreversal of the original Renaissance spirit. Compare and contrast the Northern Renaissance with the Mediterranean Renaissance? In some areas the Northern Renaissance was distinct from the Italian Renaissance in its centralization of political power. While Italy and Germany were dominated by independent city-states, parts of central and western Europe began emerging as nation-states. The Northern Renaissance was also closely linked to the Protestant Reformation and the long series of internal and externalRead MoreLiberal Perspective of a State7979 Words   |  32 Pagesdepending on their understanding of the principles of liberty and equal rights, but most liberals support such fundamental ideas as constitutionalism, liberal democracy, free and fair elections, human rights, capitalism, free trade, and the freedom of religion. These ideas are widely accepted, even by political groups that do not openly profess a liberal ideological orientation. Liberalism encompasses several intellectual trends and traditions, but the dominant variants are classical liberalism, whichRead MoreStudy Guide9234 Words   |  37 Pagesthat no one is in total control of his or her own fate. It can also be seen as magnificent because it gives us insight into how the world really works. 3. What is a social institution and how does it relate to social identity? Choose a sports team or another social institution to illustrate your answer. Sample answer: Social institutions include the family, religion, education, the economy, the government, and even sports. The goal of a social institution is to meet the basic social needs. TheRead MoreLogical Reasoning189930 Words   |  760 PagesKirkwood Community College; and Stephanie Tucker, California State University Sacramento. Thinking and writing about logical reasoning has been enjoyable for me, but special thanks go to my children, Joshua, 8, and Justine, 3, for comic relief during the months of writing. This book is dedicated to them. For the 2012 edition: This book is dedicated to my wife Hellan whose good advice has improved the book in many ways. vi Table of Contents Preface....................................

Corporate Financial Management of Superannuation Fund †Free Samples

Questions: 1.What are the important factors that should be considered by tertiary sector employees when they are deciding whether to place their superannuation contributions in the Defined Benefit Plan or the Investment Choice Plan? What issues relating to the concept of the time value of money may be important in this decision-making process? 2.If the efficient-market hypothesis is true, the pension fund manager might as well select a portfolio with a pin. Explain why this is not the case? Answers: 1. The concept of superannuation fund has come in as a convenient mode to save for a comfortable retirement. Retirement needs a lot of funds and that is possible when an individual is able to plan it properly keeping into consideration the time frame and other factors that come into the picture. It encourages the savings habit especially among the tertiary sector employees and also increases the responsibility of the employer towards the employees in the form of systematic contributions to the fund. Hence a lot of factors need to be considered in deciding the type of fund, timing of the contributions, market forces and anticipation of returns from different types of investments, so on and so forth. A few of these factors with specific reference to the time value of money have been discussed. The Efficient Market Hypothesis has also been analyzed from a fund managers angle in selecting and deciding on the most appropriate type of portfolio. Superannuation Contributions Almost every active country encourages the habit of saving and investing in retirement benefits to ensure a balanced and good life for employees during the later years of life. With the increasing focus and regulations framed by the governments requiring mandated contributions by the employers, there are large amounts being deposited every year under the head of superannuation contributions. As per ASIC (2016) earning adequate returns from these investments becomes the responsibility of the financial institutions as the ultimate motive of superannuation contributions has to be achieved. Thus a lot of factors have to be considered by the fund managers with whom the superannuation contributions are placed to ensure that the required amount of money is made available to the employee on retirement. In consideration of the economic sector, there are three major and relevant sectors namely primary, secondary and tertiary sectors. The major role of the tertiary sector is to share their experiences, wisdom, and productivity with those in the primary and secondary sectors as the root level problems and benefits are first identified by the tertiary sector employees (Libby et. al, 2011). To ensure the quality retirement life for employees, the government introduced the concept of mandated employer contributions which was at 3 percent and later enhanced to five percent from the year 2005. Due to this systematic allocation and savings, the burden of social security on the state gets reduced and the superannuation investment and pension payments system are seen upon as a beneficial mode in many other countries (ASIC, 2016). As the returns from such superannuation funds represent the savings over the entire term of employment, it is essential to ensure that the contribution amounts are in vested in proper return bearing sectors (Davies Crawford, 2012). When the lump sum amount is paid to the employee on retirement, it should be substantial and hence the factors that need to be considered are discussed hereunder. Unisuper Limited is one of the biggest individual and industry based superannuation funds that manages and offers services to the employees of the tertiary sectors. The two main kinds of superannuation plans are Defined Benefit Plan and Investment Choice Plan (Goyal Wahal, 2008). A new revolution in the superannuation funds industry is that now employees have the options of choosing among the superannuation fund products offering different types of retirement options and an enhanced flexibility in deciding the kinds of assets for the investment of the superannuation fund contributions. A brief understanding of the types of the funds is highlighted. Under the Defined Benefits Plan, the final amount is paid upon the retirement of the employee. Such amount is determined after taking into account factors like the last drawn salary of the employee, the age of the employee, the number of years of service, etc (Parrino et. al, 2012). Under this plan, the employees are allowed to pool their contribution amounts and invest in the designated assets selected upon by the trustees and fund managers of the Unisuper Ltd. As the final payout amount is already decided, the returns from the portfolio investment become insignificant as it is not going to have an impact on the final payout which is decided by a formula. The returns from the portfolio of assets do not impact the individual employees but have to be considered by the fund managers. Thus, in a nutshell, it can be understood that it is the duty of the fund managers and trustees to ensure that there is sufficient amount ava ilable for payment upon the retirement of the employee (Shah, 2013). The second type is Investment Choice Superannuation Fund. In this option, the annual amount of employer and employee contributions are retained in an accumulating account and managed by private institutions. The returns from portfolio assets are also added in these accounts and the administrative and management expenses are met from the same accounts. As the investment options are open, the employees can do a risk and return analysis and designate the investment amounts to certain types of assets like shares, fixed securities, or such other options upon discussion with the fund managers. The strategies have to be evolved and reviewed by the individual employees as the final payout depends upon the actual returns and the realistic amounts available in the accumulating accounts upon the retirement of the employee. Thus the employees encounter the risks related to the superannuation contributions. Relevant Factors to be considered As it is evident that under the Defined Benefits Plant, the payout amount is a fixed sum and will is not impacted by the volatility of returns. Thus it is a safer option for employees requiring steady returns. Under the Investment Choice Plan, if the employees have a higher risk appetite and are confident that their own analysis and the analysis of the fund managers can provide higher returns, then they can go in for this option (Albrecht et. al, 2011). Apart from this, the other factors include the ability to manage funds. If employees are knowledgeable about the markets and returns, then they can take up the responsibility of managing and invest in the portfolio based on their expertise and strategies and thus opt for the Investment Choice Plan. On the other hand, if employees are incapable of managing their funds, then they can designate their funds to establish institutions like Unisuper Limited and save themselves from potential losses and wait for the safe and fixed return amounts. In such cases, the Defined Benefit Plan turns out to be beneficial. Apart from this, the tertiary sector can opt for the Investment Choice Plan when they are having additional sources of income generating assets and hence the returns from superannuation funds can be variable. On the other hand, if the employee is not having another additional source of income generation and has to depend upon the superannuation amounts, then the Defined Benefits Plan is a better option as it ensures a uniform return without being affected by the market movements. Time Value of Money Consideration There is always an opportunity cost involved in respect of investments. Time Value of Money takes into consideration the current value of future cash flows and the future value of the current investments. As money grows with time, it is essential to evaluate whether the designated investments are growing in line with the rate of returns from the markets. For instance, $100,000 today is not going to be the same $100,000 upon retirement, it would have got depreciated and hence these factors are essential in the decision-making process for selection of funds (Libby et. al, 2011). Hence, time value of money comes into action when deciding a future course of an action. The retirement funds need to be determined to keep into consideration the time value of money as the same amount will not be the same in the future course of time. The superannuation contributions and retirement payouts are a life times earnings of the employees. Hence it is essential that the employees efficiently understand the concept of time value of money and make proper decisions with reference to the future value of presently invested amounts. The portfolio of investments should be studied on a historical basis to understand its past performance and also predict the future performance based upon the predictions from experts (Vaitilingam, 2010). The past performances provide a trend that can be evaluated to predict the future course of action and to know the pattern of behavior. As time value of money aims for higher returns, there can be a few bad years as well due to the global economic conditions having an impact on the returns from investments. Thus the employee also has to determine the number of years they can wait to get the desired returns. This is more like a provisioning for bad market performance. The factors relevant in such cases would be the availability of alternative income generation options and the waiting period which includes preparing the employee for both the best and worst conditions and situations. Thus time value of money concept is pretty significant and has to be considered to ensure safe returns. 2. Efficient Market Hypothesis The efficient market hypothesis believes that share prices are a result of the market reactions and incorporates all the available market information to reflect the most efficient stock price. Hence it is assumed to be perfect. But this hypothesis does not hold true due to the following reasons: Markets behave in an irrational manner and hence fair price is a myth. Investor psychologies are unpredictable and cannot always reflect the true price level. Hence theories based on this are undependable. If the stock markets are assumed to be performing properly, then it is in line with the random walk theory but in reality, investors are rational but the situations and events are uncertain. Due to the above shortcomings, the fund manager cannot select a portfolio with a pin due to the following reasons: The portfolio designed and selected might not be a very well diversified one leaving it open and susceptible to unique risks that do not usually reap rich rewards. Such a portfolio might also be open to too many systematic risks for the individual investors. In case the investors are having other primary investment options in riskless assets yielding higher rewards, then resorting to the efficient market hypothesis might not be a risky venture, else such a portfolio might have a pretty high beta in consideration of the individuals risk preferences (Northington, 2011). A fund manager has to meet certain specific return goals and risk goals. Experience from the stock markets has time and again proved that there is no way to control the expected, anticipated and unanticipated risks of the portfolio. Markets have no memory and there is no easy way to make money out of the stock markets. There are different types of risks involved in the case of short-term interest rates versus long-term interest rates (Porter Norton, 2014). Hence portfolio selection needs to be done on a calculated and systematic basis. For stocks of smaller companies, the market size is relatively lower in comparison to those of higher companies (Deegan, 2011). Hence the price movements of such smaller stocks are a clear reflection of market inefficiency. As per Fama (1998), every stock is fundamentally different in terms of market competition, capital structure, volatility, financial potential, etc. Hence the market can never adjust itself to suit the requirements of all the stocks. As the statistical analysis is bound to its inherent limitations, the exact market performance in line with the efficient market hypothesis can be termed as a mere coincidence. The taxation structure of different individuals is of critical nature as certain assets tend to earn surpluses due to the higher taxability. In such cases, the after-tax returns to individuals in low tax brackets on such assets turn out to be favorable. But this again does not hold good for all cases (Marsh, 2009). Upon consideration of the above factors, it can be understood that portfolio selection cannot be done with a pin. The fund manager still has significant jobs to be done which are as follows: The fund manager needs to ensure that the portfolio is well diversified. A large number of stocks in the portfolio do not essentially ensure a proper diversification. The risk of a diversified portfolio should be appropriate for the client. The expected money should be made available to the client on retirement for which the risk of the portfolio needs to be reviewed at regular intervals (Fama, 1998). Lastly, the portfolio has to be tailored to take advantage of the special tax laws and benefits for the pension funds. Such options make it possible to increase the expected returns of the portfolio without increasing the risk. Thus the risk bearing ability aids in the decision-making process. The investment risks and return profiles have to be considered together in deciding upon the type of superannuation fund and investment according to the efficient market hypothesis. References ASIC 2016, Type of funds, viewed 16 May 2017 https://www.moneysmart.gov.au/superannuation-and-retirement/how-super-works/choosing-a-super-fund/types-of-super-funds Albrecht, W, Stice, E Stice, J 2011, Financial accounting, Mason, OH: Thomson/South-Western. Davies, T Crawford, I 2012, Financial accounting, Harlow, England: Pearson. Deegan, C. M 2011, In Financial accounting theory, North Ryde, N.S.W: McGraw-Hill. Fama, E.F 1998, Market Efficiency, Long-term Returns, and Behavioral Finance, Journal of Financial Economics, vol. 49, pp. 283-306 Goyal, A Wahal, S 2008, The Selection and Termination of Investment Management Firms by Plan Sponsors, Journal ofFinance , vol. 63, pp. 1802?1827. Libby, R, Libby, P Short, D 2011,Financial accounting, New York: McGraw-Hill/Irwin. Marsh, C 2009, Mastering financial management, Harlow: Financial Times Prentice Hall Northington, S 2011, Finance, New York, NY: Ferguson's. Parrino, R, Kidwell, D Bates, T 2012, Fundamentals of corporate finance, Hoboken, Porter, G Norton, C 2014, Financial Accounting: The Impact on Decision Maker, Texas: Cengage Learning Shah, P 2013, Financial Accounting, London: Oxford University Press Vaitilingam, R 2010, The Financial Times Guide to Using the Financial Pages, London: FT Prentice Hall.