Chinese Foreign Policy Essay Example | Topics and Well Written Essays - 750 words

Chinese Foreign Policy - Essay Example Its recent approaches to security have raised concerns on the rise of the nation. Will the rise of China be peaceful? What are the global implications of the Chinese up rise? In an argument by Westad (2012) the growth of China provides both good and bad aspect to global peace. The author points out the rise of China may unite the countries in the Pacific which may be a positive addition to global peace (Westad, 2012). Additionally, the rise of China created a new foreign policy that denied China the mandate to create neither enemies nor friends. This minimizes the possibility of confrontation with any nation. However, war created by the rise of Chinese may be inevitable but probable. Xuetong (2014) points out that China is using the same strategy used by the United States to achieve global dominance. The United States gained the support of neighboring nations and created an effective regional team. After attaining support from nations sharing the same objective, the United States gained the confidence to defeat global leaders such as Germany and Japan. China may seek the support of India, Bangladesh and Myanmar. This may not be well perceived by the Unit ed States which may put in place counter strategies. This may be the moment the strength of China would be realized (Wang, 2013). In addition, the conflict in Asia between China and Japan may not be peacefully approached for a long time after the rise of China (Wang, 2013). China has made its policies more assertive in the modern century. For instance, China created an Air Defense Identification Zone which is perceived as a direct provocation to the international community (Xuetong, 2014). This direct display of its motives may explain the future steps that may be taken by China to attain global dominance. In similar events, China has increased its trade to Africa and decreased its economic allegiance to the west. This is aimed at increasing its economic growth without the

Social Order Essay Example for Free

Social Order Essay Discuss the role of primary and secondary groups in the maintenance of social order and the emergence of deviance in Caribbean societies. Through the evolution of sociology as a discipline, several ‘big questions’ have dominated discourse in the subject. Such questions surround how social order is obtained and maintained in society as well as the factors that account for a movement away from the social order and engage in behaviour thought to be deviant. This discussion will seek to give an account of the treatment various sociologists have given to the issue of social order in society; and the role primary and secondary groups play in the maintenance of order. In the wake of such major revolutions as the French Revolution of 1789 as well as the Industrial Revolution that was also in progress in Europe, society as was conceived at the time experienced massive transformations. Questions arose that needed to be answered. â€Å"The types of questions these nineteenth-century thinkers sought to answer – what is human nature? Why is society structured like it is? How and why do societies change? – are the same questions sociologists try to answer today† (Giddens 1997). This statement further elucidates the central notion of this essay; that the problem of social order has always been at the forefront of the minds of sociologists. O’Donnell (1997) describes social order simply as â€Å"†¦a state in which social life – actions and interactions – can be conducted without major interruptions†. While there are breaches of the social order by and large collective life is able to happen without chaos. It is this relative uniformity in social action, on a macro level, that has pre-occupied the minds of sociologists for some time. A defining fact of human social life is that people will gravitate to each other in various ways. Macionis and Plummer (2008) defines a social group as â€Å"†¦two or more people who identify and interact with one another.† Social Groups range from married couples to friendship groups, to gangs, to churches, to multi- national corporations. Macionis Plummer (2008) go on to define a primary group as â€Å"†¦a small group whose members share personal and enduring relationships.† They argue that â€Å"†¦individuals in primary groups typically spend a great deal of time together, engage in a wide range of common activities and feel they know one another well.† Essentially, primary groups are small and – due to their size – they are able to allow members a considerable measure of familiarity. The opposite is true of secondary groups. These may be defined as â€Å"†¦large and impersonal social group[s] whose members pursue a specific interest or activity†¦Secondary relationships usually involve weak emotional ties and little personal knowledge of one another† (Macionis Plummer, 2008). Weaker social ties allow secondary groups to facilitate a much larger membership that would obtain in a primary group setting. By this token, we are able understand that membership in primary and secondary groups, serves to facilitate different needs. They achieve different ends in completely different ways. In primary groups, members define themselves in relation to who they are, while in secondary groups persons are defined in relation to what they offer and what the others receive in return. Before we can understand sources of deviance, we must understand order. Order becomes manifest when people conform to social norms and values. The social order is maintained through the presence and implementation of sanctions. A sanction is â€Å"†¦any response to a behaviour that serves to reinforce the norms of a society or social group.† Sanctions may be positive or negative. Positive sanctions or rewards, are implemented to encourage a desired behaviour, whereas negative sanctions are implemented to deter or discourage undesired behaviour. Social order is maintained by the work of the agents of social control. These include such social institutions as the family and the peer group, as well as the education system, religious institutions, the mass media as well as such institutions as the security forces and the justice system. As we become exposed to these institutions, we become aware of what our social group expects of us. We gradually learn what appropriate behaviour is and get an idea of the consequences of each. In this regard, we can better understand the practical framework within which properly ordered collective order happens. This question of how it is that humans are able to cooperate and engaged in structured behaviour is taken by this writer to be central to sociology, largely due to the fact that it manifests itself in the work of such writers as Emile Durkheim, Talcott Parsons, Karl Marx, Max Weber and even W.E.B. Dubois. Emile Durkheim postulated that the basis of social order was, in fact, wide scale agreement and shared morality. Bilton et al (1981) states that Durkheim and fellow functionalist, Talcott Parsons, were talking about the same idea when they used the terms â€Å"collective conscience† and â€Å"value consensus† respectively. Essentially they were both suggesting that human beings submit to a set of social rules because they believe in their validity to a greater or lesser extent. The difference between them was that â€Å"†¦in Durkheim the source of this belief was society itself but in†¦Parsons, society is described as a social system† (Bilton et al, 19 81). Haralambos et al (2002) states that â€Å"†¦Durkheim assumes that society has certain functional prerequisites, the most important of which is the need for social order.† Haralmbos et al (2002) go on to further explain that, â€Å"without this consensus or agreement on fundamental moral issues, social solidarity would be impossible and individuals could not be bound together to form a social unit.† Parsons’ treatment of society as a social system has been seen as foundational to his other ideas, but the fact importance he placed on society as a social system was crucial to his broader understanding of social order and cannot be understated. This treatment of social order became central to functionalist writing, since common values produce common goals. This is largely because writers in the functionalist school posit that since society is a system of interrelated parts, there is a need for there to a certain amount of agreement in society in order to make the system work. Thus, from a functionalist perspective, social groups and institutions are effective in shaping social order by virtue of the ways in which they ensure conformity to the consensus on values that exists in society. The challenge with this functionalist analysis of order is that it presents a very idealistic and almost utopic picture of how society works. It suggests that we all come together because we happily agree upon a certain set of values there is no element of coercion or exploitation involved. Another perspective that gives a different treatment to the issue is that of the Marist school of thought. The work of Karl Marx presents a sharply contrasting picture of the order problem in society. Rather than seeing social order as the result of collective agreement and harmony in society, Marxist sociology presents a radical alternative to this view. Jessop (1999) highlights the importance of seeing Marx in a material determinist framework. He did not see society and its institutions as emerging from the wide scale on a set of values, beliefs and ideas. Rather, he saw the society as emerging from economic forces. Primacy was given to the economic system of society rather than the value system. A major argument postulated by Marx is that conflict emerges in society with the emergence of private ownership (Jessop 1998). For Marx, the bottom line behaviour of man is the pursuit of subsistence. Thus, in order to survive one must engage in some form of work. By working, we engage in different types of relationships with each other. Marx highlights two basic states of being; owners of the means of their production and owners of their labour. Essentially there are the haves and the have nots, the bourgeoisie and the proletariats. These, according to him, are the two basic classes of society. Marx postulates that it is the bourgeoisie who – by virtue of having control of the means of production – have ideological control over the society. They can therefore exert their idea of values, norms, etc on the wider society, seeing that the superstructure of society is biased in their favour. Although there is conflict in society, the effect of that conflict is sublimated as a result of ruling class dominance. Charon (1999) summarizes Marx’s take on the issue as suggesting that social order is maintained through force and manipulation of a subordinate class of people. From this perspective, we see that in society, it is possible for social groups to work to conspire to hold masses of people in check. The agents of social control represent the ruling class agenda and ideology. In this regard, some persons fall into deviance, because the ruling class agenda, which dictates what is acceptable or not, conspires against them. As such, it is the capitalist system that creates deviants, rather than the deviants themselves. Thus far, the writers examined have subscribed to a macro or structuralist approach to society and the individuals in it. They postulate ideas that suggest that the society creates the individuals and therefore emphasis is placed on understanding the work of social structures in maintaining social order. However, a large body of sociological work subscribes to a micro or interpretive approach. They suggest that the structuralist stance underestimates the abilities of the individual and treats them as less than autonomous beings. Conversely, interpretive theorists seek to understand structured, relatively uniform behaviour against the backdrop of humans being purposeful and rational beings. They do not merely seek to know that a behaviour has been committed, but more so, the interpretations of the meanings behind the behaviours in question. Max Weber, though influenced by Marx, was highly critical of his approach to understanding society. He did not subscribe to the one-sided idealism of functionalism, but at the same time, rejected the one-sided materialism of Marx. For him, both of these forces worked in tandem and were crucial in shaping social cohesion and change (Jessop 1998). He drew his analysis from his research into The Protestant Ethic and the Spirit of Capitalism† (1904) which explored the ways in which religious beliefs shaped the development of capitalist system while, at the same time emphasizing that the capitalist system could shape the course of religious beliefs. In rejecting the more structuralist approach, Weber presents the idea that society and the social order does not exist in isolation of the purposeful actions of the individuals in it. He suggests that it is individuals in interaction who give rise to a social structure. The social action approach to understanding behaviour relies heavily on the concept of rationality. He identified different types of rationality, namely: traditional, affective and value-free rationality and emphasized that societies progressed towards deeper more rational behaviour with development. According to Jessop, Weber saw social change as the rationalization of social life. This rationalization became culminated in the creation the bureaucracy in modern society. Thus far, the perspectives that have presented have been colour-blind in the examination of society. They have either presented a vision of society that is either too harmonious to fathom any idea of conflict and division or examined a conflict that emphasizes wealth-based conflict so far that it understates the presence of any other form of conflict that might be abundant in society. It can be argued no perspective best explains the dynamics of Caribbean social order on its own. As such, a more Caribbean perspective must be sought. M.G. Smith, in his seminal work, The Plural Society in the West Indies advanced the argument that the Caribbean societies are several cultures co-existing without blending to form one. Smith (1955) begins his analysis with the basic functionalist premise that society begins with shared values and common social institutions. As a functionalist, he sought to apply this basic principle to a diverse Caribbean cultural landscape with slaves, mulattoes and whites living alongside each-other. When Smith (1955) examined such social institutions as Family, Religion, Education and Economy, he concluded that there is no single collective value system among the three major cultural groups. Rather, he argued that each group had a value system of its own and that the Colonial system was responsible for holding the societies together. This idea of ‘cultural pluralism’ as he described it was quite popular in Caribbean thought for some time, as it helped to explain the divided and divisive of Caribbean social relations. Hence, through the work of M.G. Smith, we are better able to see how social order is in the Caribbean is achieved. On the other hand, other Caribbean writers in the structural functionalist tradition have disagreed with Smith. Edward Braithwaite (in Barrow and Reddock, 2002) argues that the Caribbean does indeed have a common value system. He posits that there has emerged in the region a common ascriptive base, upon which values are built. For instance, he believes that over time, blacks came to accept white dominance, as did the whites and, hence, the argument that there were absolutely no common values does not hold. He suggests that, while stark differences exist in the way cultural institutions are practiced by different sections of the society, it cannot be denied that underlying commonalities abound. Hence, from this perspective, we are again able to appreciate, another perspective of Caribbean order. Yet another Caribbean sociologist worth examining is Edward Kamau Brathwaite (1971). In his work, Creolisation in Jamaica, Brathwaite advances the argument that the cultures which were flung together and helped to shape Caribbean culture have indeed mixed, blended and fused to form one. In providing a working definition, Edward Kamau Brathwaite in, Creolisation in Jamaica (1971) states that creolisation is â€Å"†¦a cultural action – material, psychological, and spiritual – based upon the stimulus/response of individuals within the society to their environment and – as white/black †¦to each other.† As such, creolisation theory posits that when the Africans were thrown together in social arrangement with the Europeans, there was a cultural fusion and this fusion of cultural elements came to form something new. The assumption is that the two cultures were flung together but one was the ‘dominant’ culture (Europe) and the other was subo rdinate (Africa). Simple exposure to linguistics will explain that a ‘creole’ is a fusion of two or more languages to form a new one. In this way, the new language – though influenced by both – is neither of the pre-existent languages. For example, Haitian creole is heavily influenced by French, but is by no means understood by a native French speaker living in France. The point is that, when the process of creolisation takes place, a new social order is formed. Ken Pryce in Barrow Reddock (2004) questions whether or not ‘mainstream approaches’ to understanding order and deviance be readily applied to the Caribbean. As post-plantation societies, the Caribbean region has been shaped by the complex dynamics of its cultural experience. In his piece entitled, Towards a Caribbean Criminology he posits that Caribbean experience is complicated and hence, scholars must examine the peculiarities of the region and the ways in which social groups contribute to deviance in the culture. Pryce (in Barrow Reddock 2004) suggests that more attention must be placed on the lumpen proletariat class (as described by Karl Marx) and the ways in which they’ve been exploited by the capitalist class; resulting in a certain level of deviance. He also discusses the ways in which modernization of Caribbean societies has contributed to the modernization of deviance and crime in the locality. For his part, Anthony Harriot (in Barrow Reddock, 2004) critically analyzes the changing trends of crime and deviance in Jamaica. He highlights the trending down of property related crimes which have happened alongside a rise in violent crime. He also notes that the gun has increased in prominence in violent crimes over the last three decades. Harriot (in Barrow Reddock, 2004) focuses attention at two major sources of violent crime in Jamaica. These are ‘domestic violence’ and ‘gang violence’. These two categories have accounted for the overwhelming majority of violent crimes (particularly murders) in Jamaica. What this reveals is that, membership in primary groups, in which persons are familiar with each other, does not exclude one from perpetuating and being the victims of violence. Domestic violence takes place among persons who share familial bonds. Couples and wider family members are often the perpetrators as well as the victims of deviant activity. Similarly, gang violence in has been cited in annual statistics are the largest contributor to violent crime statistics. In the final analysis, it is beyond doubt that groups – both small and large – are fundamental to human social experience. We turn to them for a sense of collective identity and belonging. Because of this reality, social groups help to promote social cohesion, solidarity and facilitate social order. However, while group life is instrumental in preserving order in society, it is also a fact that social groups do contribute to deviant behaviour in societies everywhere. References †¢ †¢ Barrow, C. and Reddock, R. Caribbean Sociology  © 2002 Bilton, T., Bonnet, K.,Jones, P., Stanworth, M., Introduction to Sociology,  © 1981 Macmillan Publishers, Londin †¢ †¢ †¢ Coser, Lewis, Key Sociological Thinkers,  © 1977 Chevannes, B. Rastafari: Roots and Ideology,  © 1995 Giddens, Anthony, Sociology (3rd Ed.)  © 1999 Blackwell Publishers, Cambridge †¢ Giddens, Anthony, What is Sociology? A Definition and Some Preliminary Considerations,  © 1986 Macmillan Publishers, London. †¢ Haralambos, M. and Holborn, M. Sociology: Themes and Perspectives  © 2004. †¢ Macionis, J. and Plummer, K., Sociology: A Global Introduction,  © 2008 Prentice Hall.

Benefits And Challenges Of Department Stores

Benefits And Challenges Of Department Stores Department stores represent a large retail organization which offers to consumers a large choice of goods and services. Consumers have the opportunity to compare price, quality, and service at different stores at the same time and in a limited place. So the company can profit from individual benefits other sectors. The strategy of F4U is not only to sell quality goods at a reasonable price , but also to offer a unique service .Its prices are neither as cheap as the lower end department store, nor as expensive as the high-end store. F4U will try to bring the immediate attention of consumer through visual effects like layout, displays and colored posters and will place itself directly in front of the shoppers. The company wants, thereby, to entice different target groups and gain those other brands according to the motto good quality, fashion style, best price. In addition F4U intend to retain its consumer through a bonus program and to collect their personal data to build an aggregate profile of individual consumers to target them with special offers and appropriate advertisements. Benefits and challenges of Department stores: Department stores offer to the customer the direct experience to touch and feel the product and judge its quality as well as the possibility of living the purchase as experience (Steinmann 2011:27) .The customer can try the clothes and take them immediately. Whereby the number of returns can be decreased. The face-to-face contact is crucial for many consumers especially for old people or people who dislike shopping online. Another advantage is the longer opening hours compared to specialty retail stores especially on Friday and Saturday. Department stores have also many disadvantages such as the existing of a concrete and inflexible location. Consequently, the location is a crucial factor for the shopping place. In this context, many consumers opine that, the fixed opening hours and parking fees are unfavorable. In addition, the time exposure, due to the travelling time, could be also a problem for some consumers (Heinemann 2008:19) Furthermore, department stores emerge several costs for the company such as lease costs and staff costs. Catalog selling Catalog selling as a channel for F4U Catalog selling is one of the most popular strategies used in Fashion game. The approach involves the creation of a printed catalog with a listing of products for sale. Every product is explicitly described and clearly illustrated with a picture to make the shopping experience as real as possible for the consumer. The catalog contains also a size chart to help consumer choosing the appropriate size. F4U tries, across catalog selling, to expand its clientele and above all to attain consumers, who are not familiar with using the internet or who dislike to walk around the stores for buying clothes. The catalog will comprise different ordering informations. The consumer can choose between ordering by telephone and entering the order at the online site.F4u will also offer its consumers various delivery options .They range from shipment directly to the consumers address, to delivering the goods to a F4u retail store or simply to a Packstation. Benefits and challenges of catalog selling: The catalog shopping approach allows customers to shop comfortable without time pressure .It gives the company the possibility to reach various consumer groups. That may also increase the exposure of retailers to potential clients. The catalog represents essentially the showroom. According to Geller (2002, 148) Response: The Complete Guide to Profitable Direct Marketing if the catalog is the store, the written copy is the salesperson. Instead of waiting for the consumer, the company takes the initiative in presenting its products. Because payment is received in advance, retailers may not need to stock the merchandise and tie up their cash flow. The main disadvantage of catalog order is the difficulty to build trust and customer loyalty. In addition consumer must wait a period of time to get their order. An additional vulnerability is the long lead times. Selling via catalogs could be very expensive because a catalog must be extremely well written and designed to move the shopping desire by consumers. Low response rates and high postal costs may make catalog selling to an unfavorable channel. Electronic commerce Electronic commerce as a channel for F4U Electronic commerce or online shopping is the most effective way to brand your product line or services and to increase your visibility on line. It follows that a properly marketed and visible online business will experience a growth of shoppers and a higher conversion rate (Inci, 2010) .Through a user-friendly and well designed website F4U will become a global presence. The company will also use several tools to raise the visibility of the website and the number of its visitors. This will allow the company to reach new target groups and markets. Like by the catalog selling, the consumer will have to choose between different payment and delivery options. The client can check a product in-store or online, see which stores currently have an item in stock, or verify its availability at a specific store. The Online shop will make it possible for consumers to shop 24 hours a day, 7 days a week. Benefits and challenges of electronic commerce: Electronic commerce combines a variety of benefits. It allows reaching consumers without a geographic limitation. By these means the size of the market will expand from regional area to the national one or peradventure from national to international. In addition the company can always change the listed prices for several or edit the website in just a few clicks. Using the online selling can reduce many costs like logistical problems, the costs of distribution, of processing or of storing informations. By contrast, the company can increase the quality of services. Furthermore e-commerce makes it possible to generate consumer data and to evolve an individualized consumer profile Electronic commerce has many advantages but also disadvantages. According to Rajarman (2010:11) an important disadvantage is that Many persons go shopping for social contacts, touch and feel and bargaining before buying items. E-commerce will de-personalize transactions. . Other persons are afraid of hackers and avoid giving their credit card numbers. Sometimes the item description is not enough for a decision to buy them because many items need to be felt and touched. Rajarman (2010:12) mentions also that online-business expose the catalogues and prices to competitors. The advantage of secrecy of traditional mode of doing business is lost References Heinemann, G., 2008. Multi-Channel-Handel: Erfolgsfaktoren und Best Practices ( Multichannel trade: success factors and best practices ). Berlin: Springer DE. Inci, D., 2010. optimum7. [Online] Available at: http://www.optimum7.com/internet-marketing/ecommerce/internet-marketing-and-online-shopping.html [Accessed 17 November 2012]. Rajarman, V., 2010. Essentials Of E-Commerce Technology. New Delhi: PHI Learning Pvt. Ltd. Steinmann, S., 2011. Kundenkontakte und Kundenkontaktsequenzen im Multi Channel Marketing: Ausprà ¤gungen, Determinanten und Wirkungen ( Customer contacts and customer sequences in Multichannel marketing: developments, determinants and effects ). Wiesbaden: Gabler Verlag.

Other views of Sir Gawain in Sir Gawain and The Green Knight :: Essays Papers

Other views of Sir Gawain in Sir Gawain and The Green Knight Below are quotations selected from a number of sources which address the character of Sir Gawain: -------------------------------------------------------------------------------- "In the earliest Arthurian stories, Sir Gawain was the greatest of the Knights of the Round Table. He was famed for his prowess at arms and, above all, for his courtesy. ... Here Gawain is the perfect knight; he is so recognized by the various characters in the story and, for all his modesty, implicitly in his view of himself. To the others his greatest qualities are his knightly courtesy and his success in battle. To Gawain these are important, but he seems to set an even higher value on his courage and integrity, the two central pillars of his manhood. The story is concerned with the conflict between his conception of himself and the reality. He is not quite so brave or so honorable as he thought he was, but he is still very brave, very honorable. He cannot quite see this, but the reader can. The character of Sir Gawain is relatively fixed by tradition; he cannot act very differently from the way he does. In consequence, his character is static--is, indeed, less interesting than that of his adversary, the Green Knight. But it is for other qualities than character interest that Sir Gawain and The Green Knight is valued." (G. B. Pace, 35) From: Clark, Donald, et al. English Literature: A College Anthology. New York: The Macmillian Company, 1960. -------------------------------------------------------------------------------- "We are placed on the side of mortality itself, and can thus, with the Green Knight, forgive Gawain for his single act of cowardice: what he did was done not out of sensual lust but for love of life--'the less, then, to blame.' In the context of this affectionate sympathy, Gawain's own violent anger at the revelation of his fault must itself be viewed with amusement, as part of his human fallibility." (Marie Borroff, Introduction) From: Borroff, Marie. Sir Gawain and The Green Knight: A New Verse Translation. New York: W. W. Norton & Company, Inc., 1967. -------------------------------------------------------------------------------- "Gawain is, naturally, more fully drawn than any other character. Not only do we observe him ourselves, we are told how he impressed other people in the story and how he himself thought and felt. We see him behaving, as all expect him to do, with exquisite courtesy; but we also see what is not apparent to the other characters, that such behavior does not always come easily to him.

Lecture Fm

Vietnam National University – HCMC International University SCHOOL OF BUSINESS ADMINISTRATION COURSE SYLLABUS BA016IU Fundamentals of Financial Management 1. COURSE STAFF Lecturer: Ms. Phan Ng? c Anh, MBA Room: #205 E-mail: [email  protected] edu. vn Consultation hours: Thursday OR by appointment (preferred) Teaching Assistant: TBA Should the students wish to meet the staff outside the consultation hours, they are advised to make appointment in advance. 2. COURSE INFORMATION Prerequisite courses: Principles of Accounting 1 2. 1 Teaching times and LocationsLecture: Saturday, 13:00 – 16:00 Venue: C102 1 2 2. 2 Units of Credit: 3 credits 2. 3 Parallel teaching in the course: N/A 2. 4 Relationship of this course to others BA207U – Fundamentals of Financial Management provides students with basic concepts of financial management. The course is provided based on foundation knowledge of financial accounting and economics. This course may fulfill requirements of curric ulum for students majoring in business administration in general; however is the foundation for students majoring in finance and accounting.For those students that major in finance and accounting, they can take higher level of courses in finance after this course, to count for some, Corporate Finance, Financial Institutions and Market, Investment and Portfolio Management, International Finance, etc. 2. 5 Approach to learning and teaching Employing the interactive learning and problem-based teaching approach, this course emphasizes the interaction between lecturers and students. The lecture materials will be uploaded in Blackboard to help the students to preview the materials and to concentrate on listening and critical thinking during the lecture.This will help students to interact with the lecturer during the classroom. The sessions for presentations and discussions comprise company case studies as well as answering some theoretical and conceptual questions, which help the students to see how the concepts are applied in the real international business context. Students will present the case to the class and discuss with the peers. 3. COURSE AIMS AND OUTCOMES 3. 1 Course Aims The aim of this course is to expose students to and familiarize them with the theoretical frameworks and practical matters of financial management..The learning experience will include: an introduction to financial management; time value of money; techniques of pricing of financial instruments such as bonds and stocks; evaluation of major projects; the relationship between risk and return; an introduction to Capital Asset Pricing Model (CAPM) and Portfolio theory; and cost of capital and capital structuring. 3. 2 Student Learning Outcomes After completing the course, students should be able to: * Explain the purpose, goals, and importance of financial management; * Understand the relationship between risk and return; Understand time value of money and possess skills to convert financial t ime values; * Make basic valuation of bonds, stocks, and investment projects; * Evaluate capital budgeting alternatives, using the firm’s cost of capital in conjunction with internal rate of return and net present value techniques; * Compute cost of capital and capital structure. 3. 3 Teaching Strategies The learning system in this course consists of lectures and discussions. Lectures elaborate the appropriate theoretical content in the textbook and readings.Classes provide a more detailed and refined analysis of both concepts and applied materials. Classes are strongly oriented towards interactive discussion of the text and cases. 4. STUDENT RESPONSIBILITIES AND CONDUCT 4. 1 Workload It is expected that the students will spend at least eight hours per week studying this course. This time should be made up of reading, research, working on exercises and problems, and attending classes. In periods where they need to complete assignments or prepare for examinations, the workload may be greater. 4. 2 AttendanceClass Attendance is Mandatory. Roll will be taken by random quizzes’ submissions at times of classes. University regulations indicate that if students attend less than eighty per cent of scheduled classes they may be refused final assessment. Exemptions may only be made on medical grounds. 4. 3 General Conduct and Behavior Beepers, cell phones, and pagers need to be turned off before entering the classroom. The students are expected to conduct themselves with consideration and respect for the needs of the fellow students and teaching staff.Conduct which unduly disrupts or interferes with a class, such as ringing or talking on mobile phones, is not acceptable and students will be asked to leave the class. 4. 4 Keeping informed The students should take note of all announcements made in lectures or on the course’s Blackboard. From time to time, the university will send important announcements to their university e-mail addresses without pro viding a paper copy. The students will be deemed to have received this information. 5. LEARNING ASSESSMENT 5. 1 Formal RequirementsIn order to pass this course, the students must: * achieve a composite mark of at least 50; and * make a satisfactory attempt at all assessment tasks (see below). 5. 2 Assessment Details Two Class tests 30% Mid-Term Exam 30% Final Exam 40% Total 100% Mid-term Exam and Final Exam: Mid-term and final test will be a combination of short answer questions, application problems and multiple-choice questions and will cover all the reading, homework, and lectures associated with the topics noted on the reading list. 5. 4 Class participationStudents are expected to attend class regularly, and are responsible for materials covered during their absences. Although it is the responsibility of the student for non-attendance, the lecturer has full authority to drop a student for excessive absences. 5. 5 Special Consideration Request for special consideration (for final examination only) must be made to the Office of Academic Affairs within one week after the examination. General policy and information on special consideration can be found at the Office of Academic Affairs. 6. ACADEMIC HONESTY AND PLAGIARISMPlagiarism is the presentation of the thoughts or work of another as one’s own (definition proposed by the University of Newcastle). Students are also reminded that careful time management is an important part of study and one of the identified causes of plagiarism is poor time management. Students should allow sufficient time for research, drafting, and the proper referencing of sources in preparing all assessment items. The university regards plagiarism as a form of academic misconduct, and has very strict rules regarding plagiarism. 7. STUDENT RESOURCES 7. Course Resources Required textbook: Brealey, R. A. , Myers, S. C. and Marcus, A. J. , Fundamentals of Corporate Finance, 5th ed, McGraw Hill 2007 Note: the course will cover Chapter 1 – 12 Recommended readings: Recommended website: http://highered. mcgraw-hill. com/sites/007353062x/information_center_view0/ http://www. mhhe. com/business/finance/corpfinonline/. Choose â€Å"Finance Tutor Series†. www. finance. yahoo. com www. bloomberge. com www. reuters. com www. vneconomy. com www. efinance. com. vn Other recommended books: Brigham, E. F. and Houston, J. F. 2007), Fundamentals of Financial Management, 11th edn, South-Western. Ross, S. A. , Westerfield, R. W. , and Jordan, B. D. (2010) Fundamentals of Corporate Finance – 7th ed, McGraw Hill. Additional materials provided in Blackboard The lecturer will attempt to make lecture notes and additional reading available on Blackboard. However this is not an automatic entitlement for students doing this subject. Note that this is not a distance learning course, and you are expected to attend lectures and take notes. This way, you will get the additional benefit of class interaction and demonstra tion. 7. Other Resources, Support and Information 1 Additional learning assistance is available for students in this course and will be made available in Blackboard. Academic journal articles are available through connections via the VNU – Central Library. Recommended articles will be duly informed to the students. 8. COURSE SCHEDULE: Week| Topic| Learning materials| 1| Introduction to corporate financeIntroduction CorporationGoals of the corporationAgency problemsFinancial DecisionInvestment DecisionFinancing DecisionDividend PolicyRoles of Financial ManagerWhy corporations need financial markets?Functions of financial markets and intermedias| Textbook, Chapter 1| 2| Time Value of MoneyBasic conceptsTime line/ Future values (FV)/ Present values (PV)Simple interest rate (SR)/ Compound interest rate(CR)Multiple cash flowsFuture value of Multiple Cash FlowsPresent value of Multiple Cash FlowsPerpetuity cash flowsPresent Value of a PerpetuityOrdinary annuity cash flow/ Annuity d ue cash flow Future Value of an AnnuityPresent Value of an Annuity| Textbook, Chapter 4| 3| Time Value of Money (Cont. Growing ordinary annuity cash flow/ Growing annuity due cash flow Future Value of an growing annuityPresent Value of an growing annuityMortgate loansInflation and time value of moneyReal versus nominal cash flowsEffective annual interest ratesQuiz 1| Textbook, Chapter 4| 4| Bonds and their evaluationBond characteristicsBond evaluationCoupon bonds, semi-annual coupon bondsZero-coupon bondsBond yieldCurrent yieldYield to maturity (YTM)Rate of returnRelationship between market interest rate and bond priceBond premiums and bond discounts| Textbook, Chapter 5| 5| Stock and their evaluationEquity versus debtCommon stocks Preferred stocksBook values, Liquidation values, and Market valuesStock valuation: Dividend Discount Model (DDM)Zero growth common stocksConstant growth common stocksDifferential growth common stocksPreferred stocksGrowth stocks and Income stocksMid-Term| Textbook, Chapter 6| 6| Project Investment Criteria and Capital Budgeting DecisionCapital budgeting decisionCapital budgeting processProject classificationsNet Present Value (NPV) methodInternal Rate of Return (IRR) methodPayback Period (PP)/ Discount Payback period (DPP) methodProfitability Index (PI)| Textbook, Chapters 7| 7| Project Investment Criteria and Capital Budgeting (Cont. Principles of identifying cash flowsCalculating Cash Flows Capital investmentOperating cash flowsInvestment in working capitalTerminal-year incremental cash flowMinicaseQuiz 2| Textbook, Chapter 8| 8| Introduction to Risk, Return and Opportunity Cost of CapitalIntroduction relationship between Risk and ReturnHistorical overview of risk and returnRates of returnMeasuring riskVariance and standard deviation Risk and diversificationDiversificationAsset versus portfolio riskVariance and standard deviation of returns for a two-asset portfolioUnique risk versus market risk | Textbook, Chapters 10| 9| Risk, R eturn and capital budgetingMeasuring market riskConcept of betaPortfolio betasRisk and returnCapital Asset Pricing Model (CAPM)Security Market Line (SML)Capital budgeting and Project Risk| Textbook, Chapter 11| 10| Capital Structure and Cost of CapitalMeasuring capital structureMarket versus book weightCost of capital Cost of debtCost of preferred stocksCost of equityCost of retained earningWeighted Average Cost of Capital (WACC)WACC and business evaluation| Textbook, Chapter 12| 11| Revision| | ——————————————– [ 1 ]. This is adapted with kind permission from the University of New South Wales.

Free Essays on Boston

Strategic Management Model – Boston Beer Company The aim of this report is to identify some of the possible strategies that Boston Beer Company could adopt. In order to do so, it is not only necessary to have an understanding of the company itself, but also of the industry in which it operates. Analysis of Brewing Industry With nearly 80 million American beer drinkers, beer has become one of the most popular beverages, second only to water and tea. Each year, the U.S. beverage industry produces and sells more than 2.6 billion cases of beer, or about 193.3 million barrels. Although light beer continued to dominate the market with a 37 percent share, the consumption rate of micro brews or specialty beer also continued to grow in popularity. Standard & Poor’s believes that the U.S. brewing industry in particular will benefit from a favorable pricing environment for beer, improving demographic trends, and rising consumption of premium products. In addition, continued productivity improvements and high industry wide capacity utilization rates should aid profits. Given these factors, we project that operating profits for the domestic brewing industry will advance between 6% and 8% in 2003. This follows a strong performance in 2002, when operating profits for the domestic brewing industry rose more than 10%, by our estimate. Market Segment The craft-brewed beer industry is often divided into four industry segments - microbreweries, regional specialty breweries, contract brewing companies, and brewpubs - which are differentiated by volume of production and distribution channels. The undisputed leader of the microbrew segment has been the Boston Beer Company (BBC) and its product Samuel Adams, the tenth largest beer producer in the country. A long-lost American tradition, the craft-brewed beer industry has enjoyed a comeback in recent years and now is among the fastest growing domestic beverage segments despite national trends ... Free Essays on Boston Free Essays on Boston Strategic Management Model – Boston Beer Company The aim of this report is to identify some of the possible strategies that Boston Beer Company could adopt. In order to do so, it is not only necessary to have an understanding of the company itself, but also of the industry in which it operates. Analysis of Brewing Industry With nearly 80 million American beer drinkers, beer has become one of the most popular beverages, second only to water and tea. Each year, the U.S. beverage industry produces and sells more than 2.6 billion cases of beer, or about 193.3 million barrels. Although light beer continued to dominate the market with a 37 percent share, the consumption rate of micro brews or specialty beer also continued to grow in popularity. Standard & Poor’s believes that the U.S. brewing industry in particular will benefit from a favorable pricing environment for beer, improving demographic trends, and rising consumption of premium products. In addition, continued productivity improvements and high industry wide capacity utilization rates should aid profits. Given these factors, we project that operating profits for the domestic brewing industry will advance between 6% and 8% in 2003. This follows a strong performance in 2002, when operating profits for the domestic brewing industry rose more than 10%, by our estimate. Market Segment The craft-brewed beer industry is often divided into four industry segments - microbreweries, regional specialty breweries, contract brewing companies, and brewpubs - which are differentiated by volume of production and distribution channels. The undisputed leader of the microbrew segment has been the Boston Beer Company (BBC) and its product Samuel Adams, the tenth largest beer producer in the country. A long-lost American tradition, the craft-brewed beer industry has enjoyed a comeback in recent years and now is among the fastest growing domestic beverage segments despite national trends ...