Give examples to support your views Essay

Develop the above points and also explain why you think science fiction films are commercial successful? Give examples to support your views. Science fiction films are commercially successful because they have a high production value. This allows Sci-Fi’s to follow the uses and gratifications theory through creating an escapist environment using cgi, props, costumes and Special FX. The high production value enables the codes and conventions of a sci-fi to remain consistent (lasers, futuristic outfits, bright light) in the environments and costumes of the Mise en scene. Furthermore, The cliche’s in the mise en scene allow the target audiences to quickly recognise with sci-fi films because they are familiar to the various references of brought through the advanced cgi, costumes, special FX and props in the Mise En Scene that would be used in a typical sci-fi. Star wars: the force awakening has used familiar cliche’s within their narrative to provide escapist entertainment of which target audience can recognize. Star wars: the force awakened has used high budget of $300 million to create the different Alien species, props, costumes and environment transferring the audience into a realistic work of the protagonists. Because of this, the force awakens was able to achieve a box office of 2 billion dollars to be one of the most successful science fiction films till date. Science fictions films hybridise with other genres. This means that Science fiction films can reach a larger demographic of audiences which would enable more box office revenue to be generated from a science fiction films. Sci-Fi’s often hybridise with the family, crime or comedy genres as these genres attract the largest amount of different demographics. For example, Mars Attacks! Hybridised with the family and comedy genre. This enabled the target demographic to expand further form the stereotypical sci-fi intelligent and intellectual enthusiasts. It enabled ‘Mars Attacks! ’ to generate a revenue of 100 million dollars as parents could now experience a sci-fi with comedic value with their children. Similarly Sci-Fi’s hybridising enable a change in the iconography which would allow the visuals of a sci-fi to furthermore attract a larger audience. An example of this is in Chappie where the relationship between Chappie and the female protagonist is a representation of a mother figure targeting a female demographic. Science fictions film have an existing loyal fan base. A science fiction’s film fan base consumes Sci-Fi’s on mobile phones, laptops, consoles, PC and webpage these allow Sci-Fi’s to be commercially successful as a sci-fi film would now have a variety of methods to inform their target audience whether it be by making games (e. g. Star wars battlefront), posters or webpages that may promote a Sci-Fi’s narrative. ‘Monster’s vs aliens’ have used viral marketing, a website and teaser trailers in order to reach their fan base. Through this they were able to inform their target audience (children age 7-14) by creating interactive webpages that information of the protagonists and sharing links to their website and teaser trailers on social media platforms. Sci-fi films who have used this are successful as the intuitions were able to reach their target demographics by the how much the target audience uses each platform. Science fiction films are commercially successful because they hybridise with other genres, have high production values and have an existing fan base that consume sci-fi on various media. This is because the hybridisation allows science fictions films to target a larger demographic whilst the high production value engrosses the audience into the narrative. Additionally, the existing fan base that consume on various media enables Science fiction films to advertise to various devices ensuring that the target audience would be informed about the Sci-fi film. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Audience and Production Analysis section.

As Business Studies Unit 1 Revision Notes

Unit 1 Business- Revision * Enterprise- The ability to handle uncertainty and deal efficiently with change. * Entrepreneur- someone who has a flair for business ideas and has the confidence to take the risks involved in setting up a business. * Successful entrepreneurs: * Passion * Motivate people around them * Determined to succeed * Self-belief * Common characteristics of successful entrepreneurs: * Self-confidence- believe in your ideas; products and be able to motivate others. * Initiative- being prepared to start something. * Hard working- not easy to set up a business. * Creativity- inventing new products, finding new ways to do things. Resilience- be prepared to redesigned and rethink, don’t let setbacks put you off. * Taking risks. * Small Businesses: * Less then 50 employees * Value of sales less then ? 2. 8 million * Value of balance sheet is less then ? 1. 4million * Why do people set up businesses? * Be your own boss * Work from home * Help others * Gap in market * Redundancy * Peruse a hobby * Make money * Risks: * No job security * Loose money * Others could copy idea * May not have regular income * Debt * Competition * Demand for product falls * Rewards: * Enjoy * Personal pride/satisfaction * MAKE MONEY * Satisfied customers Provide employment * Benefit family * Government Support * Financial- grants, subsidies, tax cuts and loans. * Provide info and support- websites e. g. business link * Create enterprise zones * Reduce regulation- red tape * Revenue expenditure is every day expenditure – gas, electricity, paying suppliers for materials, petrol, wavers and salaries. * Capital expenditure is expenditure on assets- car, machinery and equipment. Sources of Finance * Retained profit: * Whatever profits the business makes is ploughed back into the business to make it grow. * Advantages * Doesn’t have to be repaid No interest charges * More the business grows, more of a profit you make * Disadvantages * maybe limited- constrain rate of business expansion * may run out quickly * still have to pay money back * the more profit you put back into the business the less you get to keep * Sale of Assets * Assets are the things the business owns. * Where the business sells things of their own to raise money. * Advantages * Get money but loose an asset * Dispose of unused assets * Get your money back straight away * Finance development without extra borrowing * Disadvantages Costs money to transfer assets * Taxed on capital gains * Grow in value quicker than what the cash can yield elsewhere * Personal Sources (owners funds) * Its money put into the business by the owner * Advantages * Doesn’t have to be repaid * Immediately available and accessible * Disadvantages * If the business fails you’ve lost your own money * Bank Overdraft * Balance of a bank account when funds withdrawn exceed funds deposited * Arranging a flexible loan on which the business can draw as necessary up to an agreed limit * Advan tages Flexible- there when you need it, helps to maintain cash flow and you only borrow what you need. * Quick – Overdrafts are easy and quick to arrange, providing a good cash flow backup with the minimum of fuss * Disadvantages * Cost  Ã¢â‚¬â€œ Overdrafts carry interest and fees; often at much higher rates than loans. This makes them very expensive for long term borrowing. You also face large charges if you go over the agreed overdraft limit. * Recall – Unless specified in the terms and conditions, the bank can recall the entire overdraft at any time.This may happen if you fail to make other payments, or if you have broken terms and conditions; though sometimes the banks simply change their policies. * Security- Overdrafts may need to be secured against your business assets, which put them at risk if you cannot meet repayments. * Trade Credit * Where they can purchase goods and pay at a later date * Advantages * You can buy the stock and pay later when you have sol d the stock and made enough money to pay them back * Eases the cash flow as you can pay after 28-30 days * Disadvantages If you do not pay them back on time you can build up a bad credit history * Only companies with good credit history can be accepted the trade credit grant * Hire Purchase * A business can buy an asset and pay over a period of time with interest. * Advantages * Don’t have to pay it all at once- spreading costs * More money to pay for your own business * Disadvantages * The item you’ve bought could be out of date by the time you’ve finished paying. * Interest could be added. * Leasing * Renting assets * Advantages * Don’t have to pay interest Service & maintenance included * Don’t have to worry about money being withdrawn * Equipment upgraded every few years * Friends and family more willing to lend * Not giving control up * Disadvantages * Money you’ve used for leasing could go else where * The item never belongs to you * B ank Loans * Sum of money lent for a fixed period of time with interest * Advantages * Length of loan can vary * Interest is fixed * Loan guarantees business has money * Bank has no control of business * Disadvantages * Interest rates * Loose possessions due to debt Pay it, even if you’re not earning profit * Venture Capital * Capital invested in a project in which there is a substantial element of risk, typically a new or expanding business. * Advantages * Provide a mentor * Don’t need to repay money back * Helps the business get money externally * Disadvantages * Loose some control of the business * Pay legal & accounting fees * Lengthy process * Share Capital * Any investors that put some money into the business get a share of the profits * Advantages * Helps you start up * Don’t have to pay it back * Business will grow If your bringing extra shareholders in, it will bring in additional expertise’s * Disadvantages * Loose some control of business * Have to give out a share of your profits each year * Business Angel * Is an individual who provides capital for a business start-up usually for business equity * Advantages * have experience from the business angel * good financial start * experiment with ideas * Disadvantages * Give up some of your business * Higher risks of being took * Factors that determine which source of finance to use: * Length of time- short term or long term Control- how much are you willing to give up? * Amount needed * What is the money needed for? * Affordability- can you afford to repay? * Level of risk you are willing to take * Type of business Costs * Expenditures made by a business in order to carry out trading. * Types of costs: * FIXED- those that do not change with levels of output or sales. Also known as indirect cost. * VARIABLE- these that change directly with level of output or sales. Also known as direct cost. * Total costs = Total Costs Fixed Costs Variable Costs Total Costs Fixed Costs Variable Costs * Total Variable Costs OutputTotal Variable Costs Output Average variable cost per unit= * Total Revenue/Turnover * The value of sales over a period of time * Selling price No of Units Sold Selling price No of Units Sold * Total Revenue Total Costs Total Revenue Total Costs Profit- what is left after total costs have been deducted from revenue. * Contribution * not the same as profit- fixed costs are not subtracted * Selling Price per unit Variable Costs per unit Selling Price per unit Variable Costs per unit Goes towards paying your fixed costs, and the left over is profit. * Total Contribution: * you can increase this by: increasing selling price * reduce variable costs per unit Contribution Per unit No of Units Sold Contribution Per unit No of Units Sold * Break-even * Fixed costs of business Contribution per unit Fixed costs of business Contribution per unit The number of products you need to sell or make to cover costs, and not lose anything or make profit. * Break-even Graphs * Margin of safety * Difference between current sales and break-even point * It shows the amount by which demand can fall before the business starts making a loss * What can affect the breakeven point? Action| Effect|Increase fixed costs | Break-even rises, need to make/sell more to break-even| Prices increase| Increase in revenue, break-even point falls| Increase in variable costs| Break-even point rises | Fall in demand | Break-even point is not effected but margin of safety is reduced| Price cut| Break-even increases| * Strengths of Break Even * Simple to understand and useful for ‘what if’ scenarios e. g. what happens if there is a price increase, increase in costs etc. * Helps to estimate future sales or level of output needed to meet objectives in terms of profit * Helps with business decision making e. . to see if a business start-up or new product is viable * Supports applications for finance e. g. loans from the bank * Weaknesses of Break Even * They are predictions for the future, therefore not always reliable due to changes internally and externally in business environment * Assumes all output is sold- not always the case * Only as good as the data on which it is based, therefore inaccurate or poor quality data make it not very useful * Cash Flow Forecasts * What is it? * It’s a prediction showing timings of cash inflows and cash outflows of a business * Its SHORT TERM It shows the impact on a business’ bank balance * NOT THE SAME AS PROFIT * A business may have the potential for profit in the long-term but have short-term cash problems * Purposes: * Forecast when outflows exceed inflows * Plan when and how to finance major items of expenditure * Ensure liquid assets are available to meet payments * Highlight when cash surpluses could be made better use of * Justify to lenders that borrowed funds can be repaid * Benefits * Indicate periods of time where there might be cash flow problems e. g. egative cash flow * Put plans in place to cover periods of negative cash flow e. g. arrange an overdraft or short term loan * If there is significant negative cash flow to identify outflows may be reduced * Review timings and amounts of recipes and payments (e. g. may need to reduce credit terms to customers or extend credit terms with suppliers) * Show to a potential lender or investor e. g. bank of venture capitalist or business angel. * Limitations * Inflows might be inaccurate due to poor market research or incorrect assumption e. g. hat there product will be of higher demand * External factors may affect your forecast e. g. rise in inflation which increases costs, competitors, weather, major event e. g. the Olympic Games * Inexperience- a person new to business has no historical data to base a cash flow on. Their inexperience may also cause them to make inaccurate predictions * Unexpected cost increases e. g. due to inflation or weather * Budgets * A budget is a financial target for the future coveri ng revenue (income) and expenditure * Expenditure budget- allocates money to ‘cost’ areas e. g. alaries, rent, advertising * Income budget- sets out sales revenue target for a department or whole business i. e. how much money they are expected to bring in * Profit budget- sets out target profit for a business or department or individual over a given time period * Why budget? * Help you to not overspend- dependent on good financial control and monitoring * Help with risks- contingencies * Help to motivate staff * Giving financial responsibility * Help with trying to secure funding * Gives you something to monitor against * Help to improve financial efficiency Stages in setting a budget * Benefits of Budgeting * Help motivate staff e. g. given sales targets * Gives people financial responsibility * Helps to control costs * Gives employees financial responsibility * For a new business helps it to assess whether it is viable or not * Can persuade lenders of the viability of the business * Provides clear goals – gives the business something to work towards * Allows monitoring of financial performance against targets * Disadvantages * Time consuming * For a new business there is no historical data * Gathering information can be costly Level of inflation not easy to predict * Can be demotivating for staff if imposed rather than agreed * May be unforeseen changes e. g. in tastes. Supplies, external environment * Inexperience – if you’re not experienced you might make mistakes * Variance Analysis * Measures the difference between forecast budget figures and actual budget figures * A – adverse – negative, not good * F – favourable variance – good ++ * Favourable variance occurs +++ * Where actual profit higher than budgeted * Where actual sales lower than budgeted * Where actual costs lower than budgeted * Adverse variance occurs — Where actual profit lower than budgeted * Where actual sales lower than budgeted * Where actual costs higher than budgeted * Protecting Businesses Rights * Intellectual property * Is property that results from original creative thought, as patents, copyright material and trademarks. * ALL businesses have IP * Your IP is likely to be a valuable asset, it could include * Name of business * Products/services you provide * Written/artistic material you create * Your IP rights can: * Set your business apart from competitors * Be sold or licensed, providing a revenue stream * Offer customers something new or different Form an essential part in your marketing and branding * Be used as security for loans * Patents * A patent is an exclusive right to use a process or produce a product usually for a fixed period of time, up to 20 years * Needed to ensure that competitors cannot copy inventors ideas * This ensures that the inventors can recoup the initial research and development cost * This allows companies to gain an advantage over their competitors and increas e their revenue * Companies can sue other companies that breach these terms and stop them selling the product e. g. Dyson and Hoover * Benefits The patent holder has exclusive commercial rights to use and license the invention * Legal action can be taken against anyone who tries to use this invention without the patent holders consent e. g. competitors * The existence of the patent may be enough to deter would-be infringers * The patent can be sold * Drawbacks * A full description of the invention is published and can be viewed by anyone applying to the appropriate patent administration office. * After the exclusive patent period other people or businesses can freely use the invention without needing permission from or making a payment to the inventor. The cost of the patent may out-weigh the financial advantages of the invention. * Patents take time to create as they need to be very specific * Trademarks * A word, image, sound or smell that enables a business to differentiate itsel f from competitors * Designated by symbols * TM – unregistered trademark GOODS * SM – unregistered service mark SERVICES * R – registered trademark * Advantages * TM and SM can be used to claim ownership without registration * Help owner protect mark from being used by competitors * Once company has trademark ownership it will have exclusive rights worldwide * Disadvantages Owner has to show proof of use at regular intervals – if documents aren’t filed could lose trademark * Weakest IP protection as it protects marketing concepts and not always product itself * Have to pay fee for registration and renewal * Copyright * The protection given to books, plays, films and music * This ensures that people cannot copy or use protected items without the owner’s permission (and usually at a cost) * CR can protect: * Literacy works e. g. ovels, instruction manuals, song lyrics, newspaper articles * Dramatic works e. g. dance or mime * Musical works * A rtistic works e. g. paintings, engravings, photos * Layouts or typographical arrangements used to publish a work e. g. a book * Recordings of a work e. g. sound and film * Broadcasts of work * Advantages * Right to produce and reproduce their work * Right to authorise others to produce or reproduce * Prevents your work from being stolen or misused * Allows copyright holder to sue infringers Disadvantages * Does not allow you to permit others to use your work or to distribute it * You must own the copyright to be able to exercise the rights it grants. Being creator does not always grant ownership * Takes time and costs money * Designs * An industrial design right is an IP right that protects visual designs of objects that are not purely utilitarian (useful) * A recognised design is a legal right which protects the overall visual appearance of a product in the country or countries your register it in. For a designs registration to be valid: * Has to be new * Have individual character * Advantages * Allows owner to control who uses it and how. * Allows author of a creative work to profit from it by charging for its use or by selling or licensing the rights * Gives owner exclusive rights to the use of the property * Deters others from misusing it * Allows owner to take legal action more easily against anyone who uses the design without permission * Compensation for misuse * Disadvantages * Registration can to expensive Not all designs can be registered * Have to be renewed after 25 years * Franchising * A franchise is a business structure in which the owner of a business idea (the franchisor) sells the right to use that idea to another person (the franchisee) usually in return for a fee and a share in any profit the franchisee makes. * A franchisee is a person or company who has paid to become part of an established franchise business e. g. subway or Specsavers * A franchisor is the owner of the holding company and franchise * FRANCHISOR Advantages| Disadvantages| Franchisor can expand business quickly | * Potential loss of control over how the product/service is presented| * Franchisor earns revenue from the franchisees turnover | * Difficult to control quality as franchise network expands | * Risk is shared- much of the cost is met by the franchisee| * Co-ordination and communication problems may increase as it grows | * Franchisee may have good entrepreneurial skills which will earn the franchiser revenue | * Some franchisees become powerful as they acquire a number of franchises | * FRANCHISEE Advantages| Disadvantages| Franchisee able to sell an already recognised and successful product/service| * Proportion of revenue is paid to franchisor | * Take advantage of central services such as marketing, purchasing, training, stock control and accounting systems and admin provided by franchisor | * Franchisee may not fell that business is his/her own. And may not benefit from the personal rewards of entrepreneurship | * Franchisor may have exp erience in the market that the franchisee can benefit from | * Right to operate franchise could be withdrawn | * OVERALL FRANCHISE Advantages| Disadvantages| Existing business format| * Business format already set out | * Banks more likely to lend to a franchise then to a new business | * Still an element of risk involved in buying a franchise, no guarantee of success | * Less risk then new business | * Other franchisees may give the brand a bad reputation| * Already established business | * Maybe difficult to sell the franchise | * There’s thing you need to research before buying a franchise: * Is there any upfront costs? * Any fees need to plan? May need to lease property or equipment from franchisor * How is franchisor making money? Regional protection – guarantees franchisor isn’t going to sell other franchises or open up outlets nearby * How many franchises fail in a year? * Value of a re-sold franchise, is it a profitable investment? * Legal Factors * Publ ic Limited Company (PLC) * Is owned by shareholders and shares can be bought and sold publicly. Advantages| Disadvantages| * Access of funds | * Flotation can be expensive to process| * Many investors| * Company must have ? 50,000 in shares capital and have 25% in shareholders before trading. | * Bankers and lenders see stable business| * Not possible to keep control| * | * Nothing topping competitors buying shares| * | * The owner is not in control. | * Partnership * is more than one person in business together without having a company Advantages| Disadvantages| * few steps to follow to become a partnership| * loss of control| * additional skills | * no liability, can lose possessions | * more capital | * got to be able to trust partner| * share strain| * legally bounded| * different skills | * | * Processes: * Formal documents have to be written * All partners have to agree to and sign the 1980 partnership act * Have to draw up a deed of partnership Private Limited Company (LTD) * Is that the owners are shareholders and their ownership of the business is determined by the proportion of the total shares each person holds. Advantages| Disadvantages| * Access to funds through shares | * Bankers may see business as a risk | * Can’t lose control | * More complicated setup | * Stable structure | * Lenders may see limited liability as a risk| * Limited liability | * | * When shareholders die/resign the business doesn’t stop| * | * Processes: * Have to keep detailed record once trading * Complicated process to setup Sole trader * Is the most common and simplest form of business organisation, it is one person operating a business alone. Advantages| Disadvantages| * Simple and quick to setup | * Unlimited liability | * Inexpensive to setup | * Difficult to raise additional finance | * Any profit made is the owners to keep or reinvest | * All decisions rest with owner| * Owner has complete control| * Drive comes from the owner | * Close relationship betwe en the business and customer can be built up| * | * Hours of work can be tailed to suit entrepreneur| * | * Processes: Very little needed to setup * When up and running must keep basic records for tax, national insurance and VAT purposes. * Not-for-profit businesses – social enterprise * A charitable company that doesn’t keep profits. Advantages| Disadvantages| * Entrepreneurs can earn a living doing something valuable | * Profits and social aims may conflict – difficult choices | * The more successful the more society benefits| * The entrepreneur will always have to accept a lower return than with a profit making business, because a proportion of the profit will go towards the social aim. * Customers may be more willing to buy from a social enterprise | * | * Easier to recruit, motivate and retain employees | * | * Grants or other forms of finance are available | * | * Unlimited Liability- the debts of the business are the owners responsibility * Unincorporated business- owner and business have no separate legal identity. * Added Value * â€Å"the difference in value between the price of the finished product and the cost of materials used† * it is the value of the process of transformation of INPUTS into OUTPUTS * Inputs- also known as the factors of production raw materials i. e. cotton and wheat * labour * land e. g. building and rooms * capital * enterprise * Outputs- is the product or service or benefit to the customer * Business is a process where INPUTS are processed to produce OUTPUTS * At each stage of the process VALUE is ADDED so that the finished product is greater than the sum of value of all the inputs * Adding value you could: * Branding * Quality * Design * Unique features – unique selling point * Size * Reputation * Range of products * Packaging * Celebrity endorsement * Good service * Offers * Location * Additional services Qualifications of staff * Transformation process * This refers to the process or proc esses that factors of production go through in order to produce goods and services. How business activity is classified: * Benefits of adding value * You can charge more * It differentiates you from the competition * Reduces the sensitivity of demand to changes in price * Higher profit margins * Can target product or service at a different marker segment * Business Plan * Is a document setting out the business idea and showing how it is to be financed, marketed and put into practice.It is likely to be crucial part of an attempt to raise finance from outside sources such as a bank. * A detailed document that looks at the workings of a new business. * Structure of a Business Plan 1. Introduction/summary/overview 2. Details of product/service 3. The market- who your customers are 4. Marketing plan – how are you going to attract customers? 5. Staffing plan- employ who? 6. Operational plan- logistics of business e. g. how customers will pay, where you will source things from†¦ 7. Financial plan 8. The future – long term plans, growth and expansion * Benefits Essential planning tool – makes the business think carefully about all aspects of the business * Set objectives against which the business can then measure progress and performance * To support application for finance/funding * Identify any problems or pitfalls e. g. lack of expertise in the business * A written down plan enables continuity, for example, if the owner becomes ill or unable to work in the business for a period of time * Helps assess the viability of a business – is it likely to succeed * Disadvantages Time consuming to research and draw up * Lack of expertise – first time entrepreneur may not have knowledge needed * Forecasts may not happen e. g. sales might not be as predicted * Can be too rigid if owner tries to stick to the plan – needs to be flexible * Market Research * Gathers info about consumers, competitors and distributors within a firms tar get market * Primary Research- data collected by the entrepreneur, or paid to be collected, which does not already exist. Pro’s| Con’s| Aim directly at your objectives | * Expensive,? 10,000 per survey| * Latest info | * Risk of it being bias e. g. interviews and questionnaires | * Assess psychology of customer | * Research findings may only be useable if comparable back data exists. | * Methods: * Observation * Focus groups * Test marketing * Questionnaire – telephone, face to face and email * Secondary Research – data already in existence that has not been collected specifically for the purposes of the entrepreneur. Pro’s| Con’s| Often obtained without cost | * Not updated regularly | * Good overview of a market| * Not tailored to you | * Based on actual sales figures, or research on large samples| * Expensive to buy reports on many different market places | * Sampling * the entrepreneur does not have the resources/time/skills to research everyone so a choice has to be made to select a proportion of those that could be researched * Random sample * Not haphazard * Computers used to generate random lists of people * Quota sample * Characteristics of marker Can be cheaper and accurate * Collected on street corner * Stratified sample * Randomly chosen from a sub-group * Sample size * How many people you want to interview? * Consideration * Cost, time, target market * Quantative Data: * Data in numerical form. An example is ‘8 out of 10 owners who expressed a preference said their cats preferred Whiskers’. * Quantative data is usually collected from larger scale research in order to generate statistically reliable results. * Good for establishing key info about a business and its market * Numerical information * Focuses on what is happening. Techniques * Online survey * Telephone survey * Questionnaire * Qualitative Data: * Data about opinions, attitudes and feelings. It is usually expressed in terms of why p eople feel or behave the way they do. * Difficult and expensive to collect * More revealing and useful * Information about attitudes, feelings and opinions * Focuses why it is happening * Techniques * In-depth interviews * Group discussions * Exam Tips: * When asked to analyse market research carried out, consider the following * Reliability of the research e. g. was it up-to-date? How representative was the research e. g. was the sample representative of the target market. * Sample size – was it large enough to be valid and reliable? * Response rate * Questions – were the right questions asked? * Bias – is the research likely to be bias? Who was asked? Was the method appropriate? E. g. questionnaires often produce bias results. * Market Share, Size and Growth * Market Share – * This is the proportion of a total market accounted for by one Product Company. * Market share can either be expressed as a % or as a value of the overall market * X 100X 100 Compa ny Value Company Value Total value of the market Total value of the market * Market size- * The total sales for a whole market e. g. pet food – expressed in the terms of value (? s) or units. ( don’t know how to calculate it, no specific formula) * Market Growth- * Change in Size Change in Size Measures the percentage change in sales (volume or value) over a period of time. X 100 X 100 Previous Market Size Previous Market Size * To calculate the change is: * New Market Size – Previous Market Size * Understating the Market Market- anyone willing and with the financial ability to buy a product or service. * 2 types: * Electronic market * Does not have a physical presence, but exists in terms of a virtual presence via the internet. * Many businesses have gone from ‘brick to click’ * In fact there are business which exist to help other business create an online presence (e. g. shopcreator. com ) Advantages of Virtual Presence| Disadvantages of Virtual P resence | * All customers are equally near from the business so distribution costs are reasonably constant. * Price transparency| * The world is the market| * Might get a lot of ‘hits’ doesn’t mean people are buying| * Less expensive – marketing & distribution| * No sales staff to encourage & advise| * 24/7 opening, no need to close| * Website crashes| * No requirement for an expensive location. | * Security issues| * Start-up costs lower| * Some people like to go to a shop and browse| * Business can react quicker to customer requests| * Lack of help and support. | Factors Affecting Demand * Price- some products/services have a demand which is very sensitive to price changes. Competition- the actions of competition particularly in relation their prices, or the features of their products will affect demand. * Incomes- some products/services have a demand which is very sensitive to changes in people’s income. * Marketing – there is a relationsh ip between the amount of money spent on marketing and the demand for the product. * External Factors- such as seasonality will also affect demand and possibly price. Market Segmentation. A technique where a whole market is broken down into smaller sections to identify groups of consumers with similar characteristics. * Segmentation characteristics: * AGE * CULTURE * GENDER SOCIAL CLASS * LIFE – CYCLES * INTERESTS/ LIFE STYLE * INCOME * Benefits: * Help them to know customers and suit their needs * Increase sales * Make more profit * Retain more customers * Increase market share * Improve marketing. * Limitations: * Need a good knowledge of the market – a small business start-up may not have this. * Can be difficult to predict customer behaviour – they don’t always behave like predicted. Location * Location is the place where a firm decides to site its operations. * Location decisions can have a big impact on costs and revenues. * E. G. * Skilled labour av ailable * Low land cost * Low rent * Close to customers High unemployment * Low unemployment * Close to raw materials * Close to suppliers * Cheap labour * Government assistance e. g. grants * Room to expand * Within the EU trade area * Low corporation tax * Access to ports * Excellent road networks * Low transport costs * Quantative factors – those that have a numerical value attached to them e. g. low rent * Qualitative factors – other factors associate with, for example, quality of the infrastructure or labour available. * Infrastructure – the fundamental facilities and systems serving a county, city or area, such as transportation and communication systems, power plants and schools.Employing People * Staffing options * Full-time – a member of staff who works in excess of 30 hours per week. Benefits| Drawbacks| * Available all the time to handle unexpected events. | * High cost. | * Able to build up better working relationships with each other- spendin g a lot of time together. | * Might not give the business flexibility in terms of an ability to increase capacity. | * Build up relationships with customers or suppliers. | * | * More loyal and committed. | * | * Take advantage of training opportunities. | * | Part-time – a member of staff who generally works fewer than 30 hours per week or a fraction of a full-time contract. They have the same employment rights as full-time employees. Benefits| Drawbacks| * Flexibility | * Difficult to access training| * Can be used when there are busy periods of trade| * Difficult to communicate between part-time staff| * Extend trading & production periods| * Less able to build close relationships with customers| * Allows people to manage work alongside other commitments, such as family| * Cost of employing and managing people on a part-time basis may not be much lower than full-time. * Job share – wider range of skills and talents| | * Small business- starting point, allow small bu sinesses to build slowly| | * If someone doesn’t want to work full-time they can become part-time and the business still has valuable experienced staff. | | * Temporary- employees who are employed for fixed periods of time, often seasonal workers, can be part-time or full-time. Benefits| Drawbacks| * If the volume of business may be uneven or uncertain the entrepreneur can keep the level of staff very flexible. | * May not know the working of the business or its culture. * Specific tasks or jobs may need doing which may have a finite time period. | * Not as motivated as permanent. | * Business could lack certain skills which are only needed for specific period of times| * Make communication difficult. | * Help a business through a period of short term staff shortage- e. g. maternity cover. | * Customers may not like a constantly changing workforce e. g. service businesses. | * May eventually become permanent. | | * Consultants & Advisors- * Businesses or individuals who provi de professional advice or services over a specific period of time for a fee. Small businesses often use consultants for advice on specific issues as it is more cost effective than employing a permanent member of staff e. g. for advice on marketing, human resources etc. Benefits| Drawbacks| * Bring in skills and expertise. | * Can be expensive. | * More cost effective. | * Not know business as well as employees. | * Adjust size of work-force up or down quickly. | * May not be motivated to work hard. | * Assessing Business Start-ups In order to be able to assess the success of a business you have to look at the original objectives. Business objectives: * Objectives are quantifiable targets set by an organisation against which they can measure their success. * Clearly defined targets for a business to achieve over a certain time period. * Possible objectives: * Profit maximisations- tying to earn as much profit as possible – but this might conflict with other objectives. * Profi t satisfying – making enough profit without risking too much stress or loss of control through employment of too many professional managers. * Survival- primary objective in the first few years of any new business. Sales growth- the owners try to make as many sales as possible. * Social objectives- the main objective would be to correct on of society’s problems but there may be a financial requirement to at least break even too. * Benefits- * Give direction and focus to the owners and the people who work in the business. * Create a well-defined target so the owners can make appropriate plans to achieve these targets. * Inform lenders and investors of the aims of the business. * Give a guideline for assessing the performance of the business overtime. * Must be SMART: Specific- clearly related to only that business * Measurable- putting a value to an objective helps when assessing performance * Agreed- by all those involved in trying to achieve the objective. Increase mo tivational impact. * Realistic – should be challenging but not impossible. * Time specific- should have a time limit so performance can be assessed effectively. * Why new business fail * Insufficient capital * Poor management skills/ lack of experience * Poor location * Lack of planning * Poor market research * Over-expansion * External factors – e. g. price increases, competitors. Niche MarketsA small and clearly identifiable segment of a market. E. g. specialist sports cars, gluten-free food, vinyl, bespoke furniture, tailor-made clothing. Characteristics: * Relatively few customers, therefore small volume of sales. * Premium priced, therefore good potential for profitability. * Product is often highly differentiated. * Usually too small to attract larger businesses, therefore attractive to smaller businesses. Advantages| Disadvantages| * Little competition – easy to gain market share. | * Tend to have higher fixed costs as they are spread across relatively sm all volumes of output/sales. * Can charge premium prices – potential for higher profit. | * Degree of specialisation makes niche markets vulnerable to changes in market conditions. | * Can focus on needs of individual customers and respond quickly to changes in these needs. | * Successful niche may attract interest of larger firms – small firms may find it difficult to compete. | * Allow small firms to compete effectively. | | * Gain â€Å"first mover advantage† i. e. first in the market, can establish brand/image. | | * Can target market more effectively e. g. have a more personalised service. | |

Alexander H. Stephens - Cornerstone Speech

Alexander H. Stephens Cornerstone Speech Delivered 21 March 1861, Savannah, Georgia When perfect quiet is restored, I shall proceed. I cannot speak so long as there is any noise or confusion. I shall take my time I feel quite prepared to spend the night with you if necessary. I very much regret that everyone who desires cannot hear what I have to say. Not that I have any display to make, or anything very entertaining to present, but such views as I have to give, I wish all, not only in this city, but in this State, and throughout our Confederate Republic, could hear, who have a desire to hear them.I was remarking that we are passing through one of the greatest revolutions in the annals of the world. Seven States have within the last three months thrown off an old government and formed a new. This revolution has been signally marked, up to this time, by the fact of its having been accomplished without the loss of a single drop of blood. This new constitution. or form of government, constitutes the subject to which your attention will be partly invited. In reference to it, I make this first general remark: it amply secures all our ancient rights, franchises, and liberties. All the great principles of Magna Charta are retained in it. No citizen is deprived of life, liberty, or property, but by the judgment of his peers under the laws of the land. The great principle of religious liberty, which was the honor and pride of the old constitution, is still maintained and secured. All the essentials of the old constitution, which have endeared it to the hearts of the American people, have been preserved and perpetuated. Some changes have been made. Some of these I should have preferred not to have seen made; but other important changes do meet my cordial approbation. They form great improvements upon the old constitution. So, taking the whole new constitution, I have no hesitancy in giving it as my judgment that it is decide dly better than the old. Allow me briefly to allude to some of these improvements. The question of building up class interests, or fostering one branch of industry to the prejudice of another under the exercise of the revenue power, which gave us so much trouble under the old constitution, is put at rest forever under the new. We allow the imposition of no duty with a view of giving advantage to one class of persons, in any trade or business, over those of another. All, under our system, stand upon the same broad principles of perfect equality. Honest labor and enterprise are left free and unrestricted in whatever pursuit they may be engaged. This old thorn of the tariff, which was the cause of so much irritation in the old body politic, is removed forever from the new. Again, the subject of internal improvements, under the power of Congress to regulate commerce, is put at rest under our system. The power, claimed by construction under the old constitution, was at least a doubtful one; it rested solely upon construction. We of the South, generally apart from considerations of constitutional principles, opposed its exercise upon grounds of its inexpediency and injustice. Notwithstanding this opposition, millions of money, from the common treasury had been drawn for such purposes. Our opposition sprang from no hostility to commerce, or to all necessary aids for facilitating it. With us it was simply a question upon whom the burden should fall. In Georgia, for instance, we have done as much for the cause of internal improvements as any other portion of the country, according to population and means. We have stretched out lines of railroads from the seaboard to the mountains; dug down the hills, and filled up the valleys at a cost of not less than $25,0 00,000. All this was done to open an outlet for our products of the interior, and those to the west of us, to reach the marts of the world. No State was in greater need of such facilities than Georgia, but we did not ask that these works should be made by appropriations out of the common treasury. The cost of the grading, the superstructure, and the equipment of our roads was borne by those who had entered into the enterprise. Nay, more not only the cost of the iron no small item in the aggregate cost was borne in the same way, but we were compelled to pay into the common treasury several millions of dollars for the privilege of importing the iron, after the price was paid for it abroad. What justice was there in taking this money, which our people paid into the common treasury on the importation of our iron, and applying it to the improvement of rivers and harbors elsewhere? The true principle is to subject the commerce of every locality, to whatever burdens may be necessary to fac ilitate it. If Charleston harbor needs improvement, let the commerce of Charleston bear the burden. If the mouth of the Savannah river has to be cleared out, let the sea-going navigation which is benefited by it, bear the burden. So with the mouths of the Alabama and Mississippi river. Just as the products of the interior, our cotton, wheat, corn, and other articles, have to bear the necessary rates of freight over our railroads to reach the seas. This is again the broad principle of perfect equality and justice, and it is especially set forth and established in our new constitution. Another feature to which I will allude is that the new constitution provides that cabinet ministers and heads of departments may have the privilege of seats upon the floor of the Senate and House of Representatives and may have the right to participate in the debates and discussions upon the various subjects of administration. I should have preferred that this provision should have gone further, and required the President to select his constitutional advisers from the Senate and House of Representatives. That would have conformed entirely to the practice in the British Parliament, which, in my judgment, is one of the wisest provisions in the British constitution. It is the only feature that saves that government. It is that which gives it stability in its facility to change its administration. Ours, as it is, is a great approximation to the right principle. Under the old constitution, a secretary of the treasury for instance, had no opportunity, save by his annual reports, of presenting any scheme or plan of finance or other matter. He had no opportunity of explaining, expounding, enforcing, or defending his views of policy; his only resort was through the medium of an organ. In the British parliament, the premier brings in his budget and stands before the nation responsible for its every item. If it is indefensible, he falls before the attacks upon it, as he ought to. This will now be the case to a limited extent under our system. In the new constitution, provision has been made by which our heads of departments can speak for themselves and the administration, in behalf of its entire policy, without resorting to the indirect and highly objectionable medium of a newspaper. It is to be greatly hoped that under our system we shall never have what is known as a government organ. Another change in the constitution relates to the length of the tenure of the presidential office. In the new constitution it is six years instead of four, and the President rendered ineligible for a re-election. This is certainly a decidedly conservative change. It will remove from the incumbent all temptation to use his office or exert the powers confided to him for any objects of personal ambition. The only incentive to that higher ambition which should move and actuate one holding such high trusts in his hands, will be the good of the people, the advancement, prosperity, happiness, safety, honor, and true glory of the confederacy. But not to be tedious in enumerating the numerous changes for the better, allow me to allude to one other though last, not least. The new constitution has put at rest, forever, all the agitating questions relating to our peculiar institution African slavery as it exists amongst us the proper status of the negro in our form of civilization. This was the immediate cause of the late rupture and present revolution. Jefferson in his forecast, had anticipated this, as the rock upon which the old Union would split. He was right. What was conjecture with him, is now a realized fact. But whether he fully comprehended the great truth upon which that rock stood and stands, may be doubted. The prevailing ideas entertained by him and most of the leading statesmen at the time of the formation of the old constitution, were that the enslavement of the African was in violation of the laws of nature; that it was wrong in principle, socially, morally, and politically. It was an evil they knew not well how to deal with, but the general opinion of the men of that day was that, somehow or other in the order of Providence, the institution would be evanescent and pass away. This idea, though not incorporated in the constitution, was the prevailing idea at that time. The constitution, it is true, secured every essential guarantee to the institution while it should last, and hence no argument can be justly urged against the constitutional guarantees thus secured, because of the common sentiment of the day. Those ideas, however, were fundamentally wrong. They rested upon the assumption of the equality of races. This was an error. It was a sandy foundation, and the government built upon it fell when the storm came and the wind blew. Our new government is founded upon exactly the opposite idea; its foundations are laid, its corner-stone rests, upon the great truth that the negro is not equal to the white man; that slavery subordination to the superior race is his natural and normal condition. This, our new government, is the first, in the history of the world, based upon this great physical, philosophical, and moral truth. This truth has been slow in the process of its development, like all other truths in the various departments of science. It has been so even amongst us. Many who hear me, perhaps, can recollect well, that this truth was not generally admitted, even within their day. The errors of the past generation still clung to many as late as twenty years ago. Those at the North, who still cling to these errors, with a zeal above knowledge, we justly denominate fanatics. All fanaticism springs from an aberration of the mind from a defect in reasoning. It is a species of insanity. One of the most striking characteristics of insanity, in many instances, is forming correct conclusions from fancied or erroneous premises; so with the anti-slavery fanatics. Their conclusions are right if their premises were. They assume that the negro is equal, and hence conclude that he is entitled to equal privileges and rights with the white man. If their premises were correct, their conclusions would be logical and just but their premise being wrong, their whole argument fails. I recollect once of having heard a gentleman from one of the northern States, of great power and ability, announce in the House of Representatives, with imposing effect, that we of the South would be compelled, ultimately, to yield upon this subject of slavery, that it was as impossible to war successfully against a principle in politics, as it was in physics or mechanics. That the principle would ultimately prevail. That we, in maintaining slavery as it exists with us, were warring against a principle, a principle founded in n ature, the principle of the equality of men. The reply I made to him was, that upon his own grounds, we should, ultimately, succeed, and that he and his associates, in this crusade against our institutions, would ultimately fail. The truth announced, that it was as impossible to war successfully against a principle in politics as it was in physics and mechanics, I admitted; but told him that it was he, and those acting with him, who were warring against a principle. They were attempting to make things equal which the Creator had made unequal. In the conflict thus far, success has been on our side, complete throughout the length and breadth of the Confederate States. It is upon this, as I have stated, our social fabric is firmly planted; and I cannot permit myself to doubt the ultimate success of a full recognition of this principle throughout the civilized and enlightened world. As I have stated, the truth of this principle may be slow in development, as all truths are and ever have been, in the various branches of science. It was so with the principles announced by Galileo it was so with Adam Smith and his principles of political economy. It was so with Harvey, and his theory of the circulation of the blood. It is stated that not a single one of the medical profession, living at the time of the announcement of the truths made by him, admitted them. Now, they are universally acknowledged. May we not, therefore, look with confidence to the ultimate universal acknowledgment of the truths upon which our system rests? It is the first government ever instituted upon the principles in strict conformity to nature, and the ordination of Providence, in furnishing the materials of human society. Many governments have been founded upon the principle of the subordination and serfdom of certain classes of the same race; such were and are in violation of the laws of natur e. Our system commits no such violation of natures laws. With us, all of the white race, however high or low, rich or poor, are equal in the eye of the law. Not so with the negro. Subordination is his place. He, by nature, or by the curse against Canaan, is fitted for that condition which he occupies in our system. The architect, in the construction of buildings, lays the foundation with the proper material-the granite; then comes the brick or the marble. The substratum of our society is made of the material fitted by nature for it, and by experience we know that it is best, not only for the superior, but for the inferior race, that it should be so. It is, indeed, in conformity with the ordinance of the Creator. It is not for us to inquire into the wisdom of His ordinances, or to question them. For His own purposes, He has made one race to differ from another, as He has made one star to differ from another star in glory. The great objects of humanity are best attained when there is conformity to His laws and decrees, in the formation of governments as well as in all things else. Our confederacy is founded upon principles in strict conformity with these laws. This stone which was rejected by the first builders is become the chief of the corner the real corner-stone in our new edifice. I have been asked, what of the future? It has been apprehended by some that we would have arrayed against us the civilized world. I care not who or how many they may be against us, when we stand upon the eternal principles of truth, if we are true to ourselves and the principles for which we contend, we are obliged to, and must triumph. Thousands of people who begin to understand these truths are not yet completely out of the shell; they do not see them in their length and breadth. We hear much of the civilization and Christianization of the barbarous tribes of Africa. In my judgment, those ends will never be attained, but by first teaching them the lesson taught to Adam, that in the sweat of his brow he should eat his bread, and teaching them to work, and feed, and clothe themselves. But to pass on: Some have propounded the inquiry whether it is practicable for us to go on with the confederacy without further accessions? Have we the means and ability to maintain nationality among the powers of the earth? On this point I would barely say, that as anxiously as we all have been, and are, for the border States, with institutions similar to ours, to join us, still we are abundantly able to maintain our position, even if they should ultimately make up their minds not to cast their destiny with us. That they ultimately will join us be compelled to do it is my confident belief; but we can get on very well without them, even if they should not. We have all the essential elements of a high national career. The idea has been given out at the North, and even in the border States, that we are too small and too weak to maintain a separate nationality. This is a great mistake. In extent of territory we embrace five hundred and sixty-four thousand square miles and upward. This is upward of two hundred thousand square miles more than was included within the limits of the original thirteen States. It is an area of country more than double the territory of France or the Austrian empire. France, in round numbers, has but two hundred and twelve thousand square miles. Austria, in round numbers, has two hundred and forty-eight thousand square miles. Ours is greater than both combined. It is greater than all France, Spain, Portugal, and Great Britain, including England, Ireland, and Scotland, together. In population we have upward of five millions, according to the census of 1860; this includes white and black. The entire population, incl uding white and black, of the original thirteen States, was less than four millions in 1790, and still less in 76, when the independence of our fathers was achieved. If they, with a less population, dared maintain their independence against the greatest power on earth, shall we have any apprehension of maintaining ours now? In point of material wealth and resources, we are greatly in advance of them. The taxable property of the Confederate States cannot be less than twenty-two hundred millions of dollars! This, I think I venture but little in saying, may be considered as five times more than the colonies possessed at the time they achieved their independence. Georgia, alone, possessed last year, according to the report of our comptroller-general, six hundred and seventy-two millions of taxable property. The debts of the seven confederate States sum up in the aggregate less than eighteen millions, while the existing debts of the other of the late United States sum up in the aggregate the enormous amount of one hundred and seventy-four millions of dollars. This is without taking into account the heavy city debts, corporation debts, and railroad debts, which press, and will continue to press, as a heavy incubus upon the resources of those States. These debts, added to others, make a sum total not much unde r five hundred millions of dollars. With such an area of territory as we have-with such an amount of population-with a climate and soil unsurpassed by any on the face of the earth-with such resources already at our command-with productions which control the commerce of the world-who can entertain any apprehensions as to our ability to succeed, whether others join us or not? It is true, I believe I state but the common sentiment, when I declare my earnest desire that the border States should join us. The differences of opinion that existed among us anterior to secession, related more to the policy in securing that result by co-operation than from any difference upon the ultimate security we all looked to in common. These differences of opinion were more in reference to policy than principle, and as Mr. Jefferson said in his inaugural, in 1801, after the heated contest preceding his election, that there might be differences of opinion without differences on principle, and that all, to some extent, had been Federalists and all Republicans; so it may now be said of us, that whatever differences of opinion as to the best policy in having a co-operation with our border sister slave States, if the worst came to the worst, that as we were all co-operationists, we are now all for independence, whether they come or not. In this connection I take this occasion to state, that I was not without grave and serious apprehensions, that if the worst came to the worst, and cutting loose from the old government should be the only remedy for our safety and security, it would be attended with much more serious ills than it has been as yet. Thus far we have seen none of those incidents which usually attend revolutions. No such material as such convulsions usually throw up has been seen. Wisdom, prudence, and patriotism, have marked every step of our progress thus far. This augurs well for the future, and it is a matter of sincere gratification to me, that I am enabled to make the declaration. Of the men I met in the Congress at Montgomery, I may be pardoned for saying this, an abler, wiser, a more conservative, deliberate, determined, resolute, and patriotic body of men, I never met in my life. Their works speak for them; the provisional government speaks for them; the constitution of the permanent government wi ll be a lasting monument of their worth, merit, and statesmanship. But to return to the question of the future. What is to be the result of this revolution? Will every thing, commenced so well, continue as it has begun? In reply to this anxious inquiry, I can only say it all depends upon ourselves. A young man starting out in life on his majority, with health, talent, and ability, under a favoring Providence, may be said to be the architect of his own fortunes. His destinies are in his own hands. He may make for himself a name, of honor or dishonor, according to his own acts. If he plants himself upon truth, integrity, honor and uprightness, with industry, patience and energy, he cannot fail of success. So it is with us. We are a young republic, just entering upon the arena of nations; we will be the architects of our own fortunes. Our destiny, under Providence, is in our own hands. With wisdom, prudence, and statesmanship on the part of our public men, and intelligence, virtue and patriotism on the part of the people, success, to the full measures of our most sanguine hopes, may be looked for. But if unwise counsels prevail if we become divided if schisms arise if dissentions spring up if factions are engendered if party spirit, nourished by unholy personal ambition shall rear its hydra head, I have no good to prophesy for you. Without intelligence, virtue, integrity, and patriotism on the part of the people, no republic or representative government can be durable or stable. We have intelligence, and virtue, and patriotism. All that is required is to cultivate and perpetuate these. Intelligence will not do without virtue. France was a nation of philosophers. These philosophers become Jacobins. They lacked that virtue, that devotion to moral principle, and that patriotism which is essential to good government Organized upon principles of perfect justice and right-seeking amity and friendship with all other powers-I see no obstacle in the way of our upward and onward progress. Our growth, by accessions from other States, will depend greatly upon whether we present to the world, as I trust we shall, a better government than that to which neighboring States belong. If we do this, North Carolina, Tennessee, and Arkansas cannot hesitate long; neither can Virginia, Kentucky, and Missouri. They will necessarily gravitate to us by an imperious law. We made ample provision in our constitution for the admission of other States; it is more guarded, and wisely so, I think, than the old constitution on the same subject, but not too guarded to receive them as fast as it may be proper. Looking to the distant future, and, perhaps, not very far distant either, it is not beyond the range of possibility, and even probability, that all the great States of the north-west will gravitate this way, as well as Tennessee, Kentucky, Missouri, Arkansas, etc. Should they do so, our doors are wide enough to receive them, but not until they are ready to assimilate with us in principle. The process of disintegration in the old Union may be expected to go on with almost absolute certainty if we pursue the right course. We are now the nucleus of a growing power which, if we are true to ourselves, our destiny, and high mission, will become the controlling power on this continent. To what extent accessions will go on in the process of time, or where it will end, the future will determine. So far as it concerns States of the old Union, this process will be upon no such principles of reconstruction as now spoken of, but upon reorganization and new assimilation. Such are some of the glimpses of the future as I catch them. But at first we must necessarily meet with the inconveniences and difficulties and embarrassments incident to all changes of government. These will be felt in our postal affairs and changes in the channel of trade. These inconveniences, it is to be hoped, will be but temporary, and must be borne with patience and forbearance. As to whether we shall have war with our late confederates, or whether all matters of differences between us shall be amicably settled, I can only say that the prospect for a peaceful adjustment is better, so far as I am informed, than it has been. The prospect of war is, at least, not so threatening as it has been. The idea of coercion, shadowed forth in President Lincolns inaugural, seems not to be followed up thus far so vigorously as was expected. Fort Sumter, it is believed, will soon be evacuated. What course will be pursued toward Fort Pickens, and the other forts on the gulf, is not so well understood. It is to be greatly desired that all of them should be surrendered. Our object is peace, not only with the North, but with the world. All matters relating to the public property, public liabilities of the Union when we were members of it, we are ready and willing to adjust and settle upon the principles of right, equity, and good faith. War can be of no more benefit to the Nort h than to us. Whether the intention of evacuating Fort Sumter is to be received as an evidence of a desire for a peaceful solution of our difficulties with the United States, or the result of necessity, I will not undertake to say. I would feign hope the former. Rumors are afloat, however, that it is the result of necessity. All I can say to you, therefore, on that point is, keep your armor bright and your powder dry. The surest way to secure peace, is to show your ability to maintain your rights. The principles and position of the present administration of the United States the republican party present some puzzling questions. While it is a fixed principle with them never to allow the increase of a foot of slave territory, they seem to be equally determined not to part with an inch of the accursed soil. Notwithstanding their clamor against the institution, they seemed to be equally opposed to getting more, or letting go what they have got. They were ready to fight on the accession of Texas, and are equally ready to fight now on her secession. Why is this? How can this strange paradox be accounted for? There seems to be but one rational solution and that is, notwithstanding their professions of humanity, they are disinclined to give up the benefits they derive from slave labor. Their philanthropy yields to their interest. The idea of enforcing the laws, has but one object, and that is a collection of the taxes, raised by slave labor to swell the fund necessary to meet their heavy appropriations. The spoils is what they are after though they come from the labor of the slave That as the admission of States by Congress under the constitution was an act of legislation, and in the nature of a contract or compact between the States admitted and the others admitting, why should not this contract or compact be regarded as of like character with all other civil contracts liable to be rescinded by mutual agreement of both parties? The seceding States have rescinded it on their part, they have resumed their sovereignty. Why cannot the whole question be settled, if the north desire peace, simply by the Congress, in both branches, with the concurrence of the President, giving their consent to the separation, and a recognition of our independence? Text Source: Cleveland, H. (1886). Alexander H. Stephens, in Public and Private: With Letters and Speeches, Before, During, and Since the War. Philadelphia, PA.

Chapter 11 Reorganization Essay Example | Topics and Well Written Essays - 1000 words

Chapter 11 Reorganization - Essay Example 2. Background Rural/Metro Corporation is considered to be one of the largest private organizations and is engaged with providing emergency ambulance and fire safety services in the US. It operates in more than 21 states in the country and is estimated to provide services to more than 1.5 million emergency calls. Established in the year 1948, the prime motive of Rural/Metro Corporation has been to provide fire protection services in return of a small subscription fee, in those areas where no emergency facilities existed. Gradually, it became one of the largest medical emergency and fire protection providers. Consequentially, it was made public in the year 1993. Currently, it is owned by Warburg Pincus, LLC, a private equity management firm. The prime economic factor that resulted in filing for Chapter 11 by the organization, owed from inappropriate capital structure, which was formed under different economic conditions resulting in huge interest payment to the creditors (Rural/Metro C orporation, 2013; Indystar.com, 2013). 3. Financial Forecast of Rural/Metro Corporation for Five (5) Years Rural/Metro Corporation is considered to be one of the largest and the most consistent performer in the stock market. The organization has been found to implement new strategies every year that helped in making the financial conditions of the organization stronger. But, it was observed that after the acquisition of the organization by Warburg Pincus, LLC, the organization faced financial problems resulting from inappropriate capital structure that further was connoted as the consequence of rapid fluctuation in the economic condition of the country. According to the annual report of Rural/Metro 2010, it was viewed that the total revenue earned by the company amounted to US$ 133,513,000, which was much more in comparison to 2011-2012 (Rural/Metro Corporation, 2013). With reference to the above mentioned data gathered from the annual report of Rural/Metro for three consecutive yea rs i.e. 2010, 2011 and 2012, it can be viewed that lack of proper financial planning and the increasing rate of interest that was to be paid to the creditors, made the organization file for Chapter 11. However, if proper guidelines and planning were made after the reorganization, it can be stated that Rural/Metro would have been in a better financial position for the coming five years (Rural/Metro Corporation, 2013). 4. Evaluation of the Key Debt Reorganization The key type of debt reorganization that the company had selected to pay of the debts was by making agreements with lenders and bondholders. This technique is considered to be one of the best and simplest methods of collecting funds usually by borrowing or through an agreement. It is also worth mentioning that the agreement is done on a mutual understanding between both the parties, which does not make the borrower liable to pay the borrowed money before the time mentioned in the agreement (Indystar.com, 2013; Krueger, 2002). Theoretically, the three types of debt restructuring processes include general debt restricting, troubled debt restricting and corporate debt restricting. Comparatively, corporate debt restricting can be considered as one of the most beneficial methods for creditors. The main reason behind this is that in this method, the creditors either reduce the rate of interests or

Experimental plan for lab Essay Example | Topics and Well Written Essays - 500 words

Experimental plan for lab - Essay Example Besides, identification of trace elements and clues in crime scene is a major challenge in the forensic science. Therefore, some of the commonest methods are less accurate and time consuming with low levels of reliability making it difficult to identify the specific culprits especially nowadays that criminals are very knowledgeable. However, according to Hartzell (689) invention of chemical processes like GCMS, which uses trace materials from the crime scene is revolutionising the path taken by forensic scientist and criminal investigators because of its reliability, accuracy and the ability to identify signature molecules even at trace and minute levels. Volunteers will provide the samples by rubbing their fingers across the forehead before using the clean beads from the vials in rubbing between their fingerprints for 15 seconds and then immediately placing the beads in the vial Hartzell-Baguley, Brittany, Rachael E .Hipp, Neal R. Morgan, and Stephen L. Morgan. "Chemical Composition of Latent Fingerprints by Gas Chromatography–Mass Spectrometry an Experiment for an Instrumental Analysis Course,." Journal of Chemical Education 48.4 (2007): 689-91.

Product and Pricing Strategy Essay Example | Topics and Well Written Essays - 1250 words

Product and Pricing Strategy - Essay Example te a variety of industrial and office-based computer and laptop solutions, along with state-of-the-art services, software collaborations and innovative accessories. EJ’s Innovations and More has a wide customer base for all of its electronic product offerings. This product will make full use of access to the existing customer base as they are all potential users of computers and laptops. Furthermore, they are already familiar with the brand name of EJ’s and have the trust relationship and faith in the product quality and service assurance of the company. With this product, the company is planning to target all computer and laptop users. The potential customers range from 14 year old girls and boys to aged, retired gentlemen and ladies. However, this plan outlines the target audience, described later, for this particular wave of marketing. The strategy of EJ’s Innovations and More is to offer customers a wide range of personal computers and laptops. These will be available in a variety of designs and colors, suiting the different needs and whims of the customer. They will be available in different varieties, starting with the basic computer or laptop, to the more advanced versions with greater memory capacity, RAM, accessories and additional features. The most important aspect of these computers will be that with registration, they will be ready for immediate use. They will work easily on all software platforms from other companies with minimal installation. To assist the customer, customer support teams will be available 6 days a week and helpline will be open 24/7 to answer any product related questions. The computers and laptops offered by the company will all carry the same brand promise of EJ’s which is one of complete innovation and convenience, designed to make the life of the customer easier and happier. The specific target audience of this plan includes the people aged between 40 to 70 years, especially those with some sort of impairments or

Helen Levitt's Images of Urban Space in the 30s and 40s Essay

Helen Levitt's Images of Urban Space in the 30s and 40s - Essay Example In what way do challenge that tradition? Helen Levitt was a renowned photographer in New York that was especially famous for her interest in street photography that specifically focused on children. Her focus on children developed while she was an art teacher back in 1937 and she had close interaction with the transition children experienced while in the New York streets. Due to her closeness and sometimes working relationship with some other highly rated photographers, Levitt was mentored by photographers such as Walker Evans, and some traits of her work seem to be borrowed from some of her mentors. This first section of the paper will look at one of Levitt’s best-known and appreciated untitled photographic work that would be referred to as Children in New York City for purposes of reference (Levitt, 3). The photograph Children in New York City represents three children, notably two boys and one girl at the doorway of what is believed to be their household. The masks they ado rn depict that it is Halloween time, a tradition observed on 31st October on the night preceding All Saints’ Day. At the bottom stair to the doorway is a boy adorning a jacket, a pair of shorts and with a relaxed stance of crossed legs while holding the staircase rail. He is masked and looks out on the street. The child in the middle is also a masked boy that has his legs on two different levels of the stairs, one where the bottom boy is and one where the other child stands. This boy is wearing long pants with seemingly a matching top. At the top is a girl with a dress trying to put on her mask in a bid to join the others. The building is made of brick evidenced by the appearance on the right of the viewer, with a glass-paneled door seeming to reflect the opposite side of the streets. Superficially, this photograph could be dismissed off as simply showing children that were getting ready for a possible trick or treat practice during the Halloween celebrations. However, there is more of the photograph than appears to the eye. This is one aspect of photography that Levitt seems to have borrowed from one of her greatest mentor, Walker Evans, who thrived to do photography that was educative, inspiring and authoritative. A deeper look and interpretation could derive more than what meets the eye of Levitt’s photography. In as much as the tone of the attire reflected an innocent desire of the awaiting excitement, rather exuberance, for the three children, the positioning of the kids on the stairs and the state of their masking shows a transition that would pass by many viewers. Only a portrait of the awaiting fun moment would pass most minds. However, this is still a fundamental depiction that reflected the enthusiasm that existed in the late 1930s during such festivals. The other perspective of the photograph depicts how isolation of kids at a young age would lead them astray in the absence of the responsible caretakers. Exposure of the children to var ious grown aspects of life might have taught them already too much than their age limits allow. The various steps down the doorway could reveal the various stages the children undergo in their transition from innocent life to a completely dishonest life most adults led. The furthest child from the doorway indicates complete alienation from the caretakers or rather parents and his composure with fully worn masks depicts acceptance into a deceitful world. The cunning look towards the

How Plants are fingerprinted (Genetic) Research Paper

How Plants are fingerprinted (Genetic) - Research Paper Example It is based on polymorphism reaction taking place on the bases of the genome at molecular level and a number of techniques are based on Polymerase Chain Reaction ( PCR) used for the amplification of DNA. The basic technique of fingerprinting was developed by geneticist Alec J. Jeffery of Great Britain, who was associated with University of Leicester. DNA profiling is also used in plants for identifying different characters, identification of gene diversity and for the management of biodiversity. Widely used techniques are Restrictive fragment length polymorphism, randomly amplified polymorphism DNA, Inter sample sequence repeats, Simple sequence repeats. However, a number of traditional techniques are being used for the identification of DNA fingerprinting but new innovations are being made in the field to make the process easier and precise. These traditional methods of DNA testing involved the comparison of random pieces of DNA but afterwards more reproducible and accurate analysis were conducted based on the comparison of gene sequencing in a particular DNA strand. Living cells, from flora and animals to human beings, are composed of basic building blocks namely DNA or deoxy-ribonucleic acid. It guides the production of enzymes or compounds that are required for growth or development of various traits of living being. It is a hereditary material which is passed from one generation to another for the production of specific types of characteristics as guided by the genetic material. Nearly every cell in an organism’s body is composed of same type of DNA. The genetic information is stored in DNA in the codes of these four chemical bases namely Adenine, Thiamine, Guanine and cytosine. The order of these bases determines the encoded genetic information. And all of these parts combine to form a single nucleotide structure. The sugar from one nucleotide links with the base of other nucleotide forming the structure of double helix. Meanwhile the bases links

International Marketing Case Study Example | Topics and Well Written Essays - 3000 words

International Marketing - Case Study Example Today instead of the traditional approach of 'maximizing' the profits, organizations go ahead with multiple objectives, monetary as well as non-monetary. There are short-term objectives as well as long-term ones. Strategists are supposed to prioritize all such objectives, so that there is clarity and ease of decision making in situations where there is an apparent clash of objectives. Here we'll analyse Vodafone, its strengths, comparative advantages, its weaknesses and some of the opportunities that it can capitalize on in the Turkish telecom market. Vodafone has acquired competitive advantage over its rivals on account of its marketing efforts, brand building, value creation, innovation, operational efficiencies etc. Today Vodafone is one of the world's leading international mobile telecommunications group having an equity base in 27 countries across 5 continents, 186.8 million proportionate customers and 33 partner networks (Vodafone, 2006). Company's vision statement1 says, the c ompany aspires 'to be the world's mobile communications leader, enriching customers' lives and helping individuals, businesses and communities to be more connected in a mobile world'. With this vision company plans to invest in Turkey. The PEST or PESTEL analysis is a useful tool for any industry or b... The analysis mainly comprises of; Political factors Economic factors Socio-cultural factors Technological factors Environmental Factors Legal Factors All these factors have different relevance for different types of industries and businesses. Political The modern Republic of Turkey was founded in 1923 by the legendary Mustafa Kemal, better known as "Ataturk" or father of the Turks. The democratic tradition of modern Turkey has faced quite a few challenges with periods of instability. In the recent past Turkey has also been criticized for its human rights record. Amnesty International accused the Turkish government in November 2001 of systematically and regularly torturing its citizens. Corruption remains one of the key challenges for Turkey. After the parliamentary elections held in November 2002, the Justice and Development Party (AKP), a moderate Islamist group, won a resounding majority. This caused some worry amongst the proponents of Turkey's reforms program, as AKP is known to position itself as a champion of Turkey's beleaguered impoverished majority, and is therefore potentially vulnerable to damaging economic populism (Datamonitor, 2006). But so far all such apprehensions have been put to rest with the continuance of the e conomic reforms, a necessity for favorable investment climate in the country. Turkey has been successfully able to overcome the banking and currency crisis of 2000-2001 Economic Turkish economy was in real bad shape during the 1990s, with growth rates of about 3% only. The 2000-01 banking and currency crisis further crippled the economy. But with some active support from IMF, the economy has been able to stage a turnaround. Owing to successful economic and structural reforms, CAGR of the Turkish economy over 2000-2005

Borderline Personality Disorder Essay Example for Free

Borderline Personality Disorder Essay In 1938, the term â€Å"borderline† was first used by A. Stern to describe individuals â€Å"on the border† of psychosis (Koerner and Linehan, 2000). Individuals afflicted by Borderline Personality Disorder, BPD, have unstable sense of relationship, mood, and identity. They exhibit low confidence on professional, sexual, and family relations and frequently experience depression, disappointments, and anxiety. In connection to these, BPD patients are inclined to substance abuse, antisocial acts, erratic lifestyles, suicidal attempts, and self-mutilation. Specifically, BPD patients of ages below than 18 years are commonly diagnosed with identity confusion. The BPD cases have a prevalence of about 0. 2-4 percent in the general public and approximately 15-25 percent among the hospitalized psychiatric cases with co-occurrence of eating disorder and substance abuse (Koerner and Linehan, 2000). Different hypotheses offer a possible etiology for BPD. Some of which ascribed it to the brains constitutional defects in different neurotransmitter systems like in the serotonergic, andrenergic, dopaminergic, and cholinergic systems while other hypotheses associated it to the history of learning disabilities, encephalitis, head trauma, severe hyperactivity, and epilepsy (Koerner and Linehan, 2000). On the other hand, in terms of developmental perspective, the excessive frustrations during childhood, physical-sexual abuse, constitutional predisposition, early parental loss, arrest in normal development, traumatic separation from parental figure and post-traumatic stress disorder are considered as contributing factors in the BPD development (Koerner and Linehan, 2000). Meanwhile, a long term psychotherapy involving reality-oriented or analytic techniques along with drug medications which include mood stabilizers, antipsychotic, and antidepressants is the therapeutic mainstay. Borderline Personality Disorder and Marital Relations Borderline Personality Disorder is a mental illness which causes unstable behavior, self-image, moods, and interpersonal relationships to the affected individuals. Eventually, these instabilities will result to disruption of self-identity, family life, long-term planning, and work performance (Sholevar and Schwoeri, 2003). As well, a BPD patient may experience anxiety, violent bouts of anger, and depression for several hours or even a day leading to substance abuse, aggression, and self-injury. About two percent of adults, mostly women, affected by BPD suffer from instability of emotion regulation which often leads to self-injury and suicidal attempts (Sholevar and Schwoeri, 2003). Consequently, the disruptions of self-identity and cognition of the affected individual cause distortion on his or her gender identity, long-term goals, jobs, values, jobs, and career plans and in the long run may result to unworthy or bad perception about his or her self. As such, the afflicted individuals, more often than not, feel low self-esteem, empty, mistreated, bored, and misunderstood. In severe cases, BPD patients tend to feel lack of social support and isolated which may lead to impulsive avoidance of perceived abandonment. In relation to these, individuals with BPD are susceptible to turbulent social relationships (Sholevar and Schwoeri, 2003). They are prone to frequently agitated relationships and tend to abrupt shifting of attitude from love and admiration to anger and hate towards their family and friends. Hence, they easily idealize and develop attachment to other person; however, in the occurrence of conflict, their attitudes suddenly shift to anger and hate the person they are formerly attached to. In addition, even to their family circles, BPD patients are sensitive to rejection and separation issues. They tend to exhibit other behavioral problems such as risky sex, excessive eating, and extraneous spending (Sholevar and Schwoeri, 2003). The American Psychiatric Association (2000) postulated that a BPD patient most probably may have a chaotic and unstable marital relation which is attributed to the distortions in his or her affects, thoughts, and behaviors. Since, children in this kind of marriage are negatively affected by the behavioral exchanges between the couple, BPD treatment in terms of its cost and mandated implementation became a significant issue. Moreover, the study of Daley, Burge, and Hammen (2000) suggested that the presence and the degree of a personality disorder largely predict the impairment of an intimate relationship. As such, the results of their study fundamentally supported the significance of BPD perspective as not merely just a categorical diagnosis but as a continuum of severity. Whereas every woman in their study was diagnosed with BPD potential, women with more subclinical BPD characteristics tended to practice maladaptive romantic lives (Daley, Burge, and Hammen, 2000). This observation generally implied that the utilization of categorical approach in BPD assessment through systematic diagnostic threshold in inadequate in the detection of variations in the relationship behavior among individuals. Nonetheless, at subclinical levels, the BPD symptoms were not directly linked with dysfunctional marital relationships (Daley, Burge, and Hammen, 2000). Even though every personality disorder has an association with romantic dysfunction, the BPD symptoms failed to generate significant contributions beyond the other Axis II pathology (Daley, Burge, and Hammen, 2000). This signified the crucial role of a factor which underlies every personality disorder under the Axis II pathology for the determination of relationship adjustment. Borderline Personality Disorder and Dysfunctional Marriage In 1938, the relationship between personality disorder and dysfunctional marriage was first noted by Terman, Wilson, Johnson, Buttenweiser, and Ferguson (South, Turkheimer, and Oltmanns, 2008). They hypothesized that the unique attributes of every individual impart them the possibility for relationship dissatisfaction. In 1995, the vulnerability-stress-adaptation model for marital relations was proposed by Karney and Bradburry (South, Turkheimer, and Oltmanns, 2008). This model illustrates the role of individual differences along with interpersonal processes in the achievement of marital satisfaction. The model postulated that personality traits and couples vulnerability directly determine the couples endurance and their behavioral exchanges with respect to the stressful circumstances in their marriage. In relation to these, the symptoms of personality disorder have been tied up with serious couples conflict and marriage violence. Specifically, the partner-violence studies through behavioral analogue and factor-analytic techniques found that borderline personality and antisocial traits of individuals are predictors of the occurrence of violence in married life. Nevertheless, through developmental research, the relationship of personality traits during childhood and adolescent years with temperament and abusive behaviors in an intimate relationship has been reported (South, Turkheimer, and Oltmanns, 2008). For someone married to a partner with BPD, the frequent turmoil in their relationship can either make their bond stronger or at worst, result to hatred and divorce. More often than not, dealing with the love-hate nature of marital relations is exasperating for every couple. In particular, an individual can hardly understand a partner who at one time offers love and adorations then all of a sudden will just lose temperament and fall into horrific rages. This scenario would make the spouse of the BPD patient dumbfounded for the hastily anger may seem came from nowhere at all. The relatives of a BPD patient may experience stress and feel helpless as they witness their loved one suffering from self-destructive BPD symptoms (Sholevar and Schwoeri, 2003). The immediate caregivers, the parents or the spouse are more susceptible to chronic stress due to the pitiful condition of the patient which at worst may even lead to psychological trauma especially for the patients children. For instance, as the patient engages into self-destructive behaviors like self-injury, burning, or suicidal attempts, the immediate caregivers are vulnerable to post-traumatic stress disorder because they directly observe the patients high-risks behaviors as they respond for help. In line with this, the spouse of the patient may experience guilt as he or she tries to figure out the cause or his or her liability in the BPD development of the patient. Meanwhile, close relatives may want to support the patient but are afraid to do so because of the harm they may possibly beget from the self-harm behaviors of the patient. As well, family members may become impatient due to the patients disruptive behaviors. Nonetheless, family members, friends, and relatives may have inadequate knowledge about BPD; thus, they can hardly understand and give empathy to the patient. In the long run, the relationship turmoil between the couple along with the stress and guilt of the patients spouse cause impatience, hatred and may even lead to divorce. Still, the atmosphere at home has a great impact on the personalities of the couples children. For example, the eldest among the siblings are often tasked to look after the needs of the patient while the youngsters are instructed to keep away from the patient to avoid emotional trauma or the possible physical harm they may beget. Moreover, the extended family like uncles, grandparents, and close friends can also be affected as they relay aegis to the patients family. Couples Therapy An individual with a spouse afflicted with BPD can adapt to the behavioral problems of his wife or her husband by understanding the nature of BPD. Along with drug medications, therapeutic counseling is widely used to save marital relations from the consequences of BPD behaviors. Both Lachkar and McCormack in 1998 and 2000 respectively, suggested the creation of â€Å"holding environment† for couples with one partner having BPD (Oliver, Perry, and Cade, 2008). In this approach, each partner, rather than withdrawing or projecting, is conditioned for the recognition of his or her subjective experiences. In particular, Lachkar proposed three fundamental functions: containment, empathy versus containment, and self-object (Oliver, Perry, and Cade, 2008). In containment, the counselor mirror and defuse the negative affects and projections in order to provide new means of images and experiences to the couple. On the other hand, the empathy or mirroring versus containment is necessary for the containment balance. The couple also needs to experience empathy and mirror-back their statements and behavior to them. Thus, the counselor must know how to employ either one or the other so as to facilitate the effective relationship functioning and the healing process of traumatic experiences. Lastly, the self-object functions are designed for the structural repair of the self. In 2003, Fruzzetti and Fruzzetti identified the five functions for a complete dialectical behavioral therapy (Oliver, Perry, and Cade, 2008). Skill acquisition or enhancement is the first function in which specific skills are taught to individuals in every session. Next in line is the skill generalization wherein the learned skills are applied to real life setting through planning and telephone advising. The client motivation or behavior change is the third function which requires the collaborative effort of the client and the counselor in identifying and changing the dysfunctional patterns. Then, the crucial skills and high level of motivation are the required functions in the development of enhancement and motivation capabilities of the counselor. Finally, the environment structuring is a required function to ensure the desired outcomes. Gottmans Approach In 1999, Gottman proposed the different levels for a sound relational house which include: marital friendship foundation which consists of admiration and fondness, cognitive space for ones spouse, and turning toward versus turning away; override of positive sentiment versus the override of negative sentiments; conflict regulation which involves dialogue establishment and physiological soothing; and the creation of shared system of meaning such as meshing narratives, dreams, metaphors, and rituals (Oliver, Perry, and Cade, 2008). Furthermore, Gottman argued that resistance can hardly be avoided in the therapy because it resulted from the disruptions in the various level components of a sound relational house of the relationships internal working model (Oliver, Perry, and Cade, 2008). Hence, BPD patients suffer from the distortions of internal working models with respect to relationships and the self. Gottman further believed that the resistance due to the psychopathology of the individual is brought by his or her stable steady state, characterized by high negativity, and by the disruptions in the individuals means of influencing and influence acceptance (Oliver, Perry, and Cade, 2008). Dialectic Behavioral Therapy In 1980s, at the University of Washington, Marsha Linehan developed the Dialectic Behavioral Therapy or DBT after the failure of the standard behavioral therapies she has employed in treating women with chronic suicidal attempts (Koerner and Linehan, 2000). The DBT is an intensive and multimodal approach in the treatment of BPD. This form of therapy incorporated the cognitive-behavioral techniques with the time-tested Western contemplative and Eastern meditative medication approaches. These approaches with opposing notions, acceptance, and change were all integrated by means of a dialectical framework which can serve as a guide in the formulation and implementation of medication strategies. Since then, DBT has been utilized in the treatment of parasuicidal behavior among BPD cases and in other psychotic disorders. On the basis of biosocial maintenance and etiology of BPD, the DBT was developed in order to provide a plausible explanation for the BPD attributes with consistency on behavioral theory and empirical research findings (Koerner and Linehan, 2000). As posited by the biosocial theory, the BPD development is triggered by a dysfunction in the emotion regulation system during childhood brought by the interaction of the emotionally susceptible child to the invalidating environment. The immediate individuals in the childs environment, either unknowingly or intentionally, invalidate the childs emotional experiences which in turn result to the elevation of the childs emotional responses which aggravate the environmental invalidating responses. Further, the biosocial theory argued that the child and the environment have biodirectional relationship; thus, both influence the continuous elevation and deescalation of the borderline behaviors. The DBT treats BPD behaviors as spontaneous products of dysregulated and maladaptive attempts of emotions regulations (Koerner and Linehan, 2000). This model illustrated the characteristics of both individual and environment wherein the latter inhibits the development of the capabilities and potentials of the former. As such, BPD patients have low distress tolerance, interpersonal, and self-regulation skills. Hence, for any treatment approach, the development and enhancement of skills, capabilities, and motivation of every patient must be given prime importance. On the other hand, the therapeutic relationship between the BPD patient and the therapist poses a dialectic tension in which they can find themselves at the opposite sites of a particular issue. The therapeutic process then attempts to synthesize these opposing views resulting to a new dialectical tension. For instance, the therapist may perceive that the suicidal tendency of the patient is the root cause of the problem while the patient may take this behavior as the solution. The possible synthesis of these positions may result to the notion that committing suicide is a maladaptive solution to the problem at hand. Then, this new position may necessitate the learning of new skills so as to smoothly adapt the patient into the present state of life. DBT Treatment Stages Since DBT is a multimodal approach, the treatment is categorized into several stages, each of which has its own goals (Koerner and Linehan, 2000). In Stage I, the behavior is out of control as the individual possesses debilitating and pervasive problems. The first stage aims to facilitate the achievement of action control and stability as well as the natural life expectancy by preventing suicidal behavior, the development of the capability of helping individuals in reducing severe impediments, and the achievement of necessary skills for such tasks. In the following stage, the individuals have attained reasonable action control. The Stage II then intends to gain understanding and at the same time to reduce the impact of early traumatic experiences, and to strengthen the individual’s endurance in emotional experiences in the absence of psychological trauma. In the third stage, the focus of treatment is on the resolution of residual problem behavior which hinders the attainment of personal goals. The BPD patient, with self-trust and respect, takes a pivotal role. Finally, Stage IV aims for the sustenance of personal freedom and goals. This last treatment stage facilitates the patient’s achievement of spiritual fulfillment, vast awareness, and connection to the universe. Empirical Findings The randomized controlled DBT trials proved its efficacy on BPD behaviors such as suicidal tendency, substance abuse, depression, binge eating, anxiety, and other personality disorders across various populations (Koerner and Linehan, 2000). In addition, a substantial number of nonrandomized controlled DBT trials have shown efficacy similar to the randomized controlled. Thus, in general, the results of DBT studies indicated its superiority against non-DBT controlled trials in the prevention and reduction of problem behaviors like substance abuse and suicidal behavior as well as treatment dropout and hospitalization, and the improvement of the general and social functioning of the BPD patients. References American Psychiatric Association. (2000). Diagnostic and Statistical Manual of Mental Disorders, 4th ed. Arlington, VA: APA. Daley, S. E. , Burge, D. , and Hammen, C. (2000). Borderline Personality Disorder Symptoms as Predictors of 4-Year Romantic Relationship Dysfunction in Young Women Addressing Issues of Specificity. Journal of Abnormal Psychology, 109 (3), 451-460. Koerner, K. and Linehan, M. M. (2000). Research on Dialectical Behavior Therapy for Borderline Personality Disorder. The Psychiatric Clinics of North America, 23 (1), 151–167.