Write about a real contemporary problem where you see the status quo Essay

Write about a real contemporary problem where you see the status quo as lined up against something that is just or in favor of something that is unjust - Essay Example Although American slavery was abolished more than one hundred and fifty years ago, the legacy of slavery continues to have important ramifications on the lives of African-Americans today. Accordingly, African-Americans have lower-life expectancies than their white counterparts and the insidious legacy of slavery has continued health ramifications. Unequal access to healthcare is a contemporary problem with broad ramifications. Seeking to address inequality in health as a feature of the United States healthcare system, this essay will persuasively argue that African-Americans face a variety of health challenges in the United States and these challenges are a legacy of centuries of racism, represented today through discrimination and institutionalized racism in this country. (DHSS, National Healthcare Disparities Report, 2005). In the United States, health insurance coverage ensures that there is financial means by which basic health care can be accessed. Individual comprehensive health insurance plans depend on an individuals’ age, level of employment, residency, and race/ethnicity. Studies have shown that African-Americans do not receive the same care even if they have the same government funded insurance as their white counterparts, such as Medicare. For example, in a study conducted by the Brown and Harvard Medical Schools, researchers found that there were significant racial disparities within Medicare plans. In addition, they found that the quality of care was a factor concerning race and ethnicity among Medicare beneficiaries. This suggests that in addition to access to care, quality of care is different among ethnic groups. To this extent, racial difference in coverage may influence health disparities and inequities within the healthcare system. Medicare is a federal government funded insurance program for disabled young adults, persons above the age of 65, and those with permanent disabilities who become eligible for

Relationship between Headteacher and Teachers

Relationship between Headteacher and Teachers Teachers and head teachers play an imperative role in upholding and improving education standards in learning institutions. Head teachers are charged with the responsibility of overseeing the day-to- day operations of a school. Teachers on the other hand are very instrumental when it comes to imparting knowledge, discipline, beliefs and values to students. Over the years, a number of research studies have established a connection between high education performance among students and good relationship between head teachers and teachers. Thus it is evident that a good relationship between head teachers and teachers promotes a conducive learning environment that can lead to good performance amongst students. Basically, a healthy relationship between teachers and head teachers is one that is characterized by mutual respect, collaboration, trust and a common goal. In order for this to be actualized, it is important for head teachers to build a platform whereby teachers can learn new skill s, communicate about issue that affect them and eventually get motivation to perform their duties unreservedly (Harris, Day Hadfield p 67). The purpose of this study is to investigate how good relationships between head teachers and teachers can lead to success and better performance amongst students. Several relevant literatures will be reviewed to establish the various factors revolving around good relationships between head teachers and teachers. Furthermore, the reviewed literature will establish how good relationships between head teachers and teachers can lead to success and better performance amongst students particularly in primary schools. This study will explore various conceptual frameworks with regards to good relationships between head teachers and teachers. In order to gather data on the relationships between head teachers and teachers, several questionnaires were distributed to head teachers and four teachers in two primary schools in Saudi Arabia. The results of these questionnaires will be conveyed in this study, thereafter this study will provide a discussion based on the findings of these questionnaire s. Literature Review According to Mulkeen (2010, p108), head teachers are the senior leaders and managers of schools and thus they play an imperative role in the functioning of schools. Head teachers are expected to take responsibility in the overall management of the school this includes, managing teachers. Mulkeen notes that, too often head teachers tend to focus on external matters such as the schools communications with the education ministry instead of managing the operations of the school. This in turn causes them to be absent from school and as result certain issues affecting teachers are left unaddressed. Recent studies show that the rate of absentness amongst head teachers is relatively high as compared to that of teachers. The effective leadership of a headmaster positively influences the performance of both the teachers and students. On the other hand, ineffective leadership on the part of a head teacher can bring about disarray in educational goals and poor performance for both teachers and s tudents (Mulkeen 108). Indeed leadership is fundamental aspect in the vocation of head teachers. The form of leadership style that they exercise in their daily running of schools directly determines whether they will have good or bad relationships with teachers. In the book Primary teachers stress, the authors of this books, Troman and Wood (2001, p 61) explain that the phenomenon of teacher bullying is widespread in schools. A website study investigating issues with regards to bullying in the workplace indicated that 20% of the reported bullying cases in the workplace involved teachers. A third of the number of teachers involved in these surveys revealed that they were victimized by head teachers. Some head teachers are known to employing bullying and other form of tyrannical leadership styles with the aim of forcing teachers to discharge their duties accordingly. However, studies show that teachers who are mistreated or bullied in their workplaces tend to lack motivation to do their work and as a result their level of productivity is wanting, this in turn affects the performance of students in their academic work (Troman Wood 62). Troman and Wood (2001, p 63) further demonstrate that in cases of bullying teachers and head teachers are involved in a strong emotional relationship and the thus the quality of relationship between the head teachers and teachers influences the teaching practice (Troman Wood 63). In reference to the sentiments of Green (2004, p 235), the leadership styles used in the headship of a school determines the kind of relationship that head teachers have with teachers and the performance outcomes of teachers and students. Basically, there are six main options of leadership styles that can yield varied results that either influence the performance of teachers and students positively or negatively. These styles of leadership include, authoritative, affiliative, coaching, pace setting and democratic. Based on this hypothesis it is evident that the leadership styles employed by head teachers determines the sought of relationship that they will have with teachers and other subordinates. It is therefore worth questioning what kind of leadership should head teachers use to ensure that they have good relationships with teachers? (Green 235). A study commissioned by the National Association of Head teachers (NAHT) sought to establish the perspectives of both teachers and head teachers on effective school leadership. The findings of this study depicted that effective school leadership in the perspective of teachers entails the head teachers ability to form good relationships with teachers. Head teachers should be aware of the needs of teachers and they should take part in addressing the various issues that affect teachers. According to Harris, Day Hadfield (2003, p 67) teachers accentuate that they value their professional and personal relationship with the head teachers. Most teachers prefer a relationship with head teachers that will enable them to freely communicate with the head teachers concerning any issue revolving around their work. Harris, Day Hadfield observe that a good relationship between the head teachers and teachers is characterized by mutual respect, understanding and trust. Despite the fact that the head teachers are professionally superior to teachers, they should not use their authority to undermine or disrespect teachers. Instead they should foster a conducive work environment whereby teachers can be able to express themselves freely and grow professionally. On the other hand, teachers should also model ways in which they can work and build mutual respect and trust with their superiors, in this case head teachers (Harris, Day Hadfield 67). Harris, Day Hadfield (2003, p 67) further recommend that in order to establish a good relationship between head teachers and teachers, head teachers should embrace the contributions of teachers and show that their efforts and contributions are highly valued. In return teachers should be willing to be supportive towards the efforts of the head teachers. Moreover, a healthy work relationship between teachers and head teachers is one that enables and promotes the development of the teachers career. The development of the teachers career may sometimes change the type of relationship between head teachers and the teachers. As teachers gain more experience and skill in their career they become more confident in the articulation of their duties. According to the findings of a study commissioned by the National Association of Head teachers (NAHT), during the first years of their profession, a good number of teachers are often afraid of the head teachers thus their relationship with the head teachers is characterized by apprehension. In these instances teachers avoid seeking for help from the head teachers when they encounter difficulties (Harris, Day Hadfield 67). However, as they gain more experience, skills and knowledge most teachers tend to have friendly associations with the head teachers and hence they can seek for guidance and support from the head teachers. Based on the findings of this study, it is evident the development of teachers career can promote good relationship between them and the head teachers. Therefore head teachers should provide learning opportunities that will allow teachers to advance in their careers. Head teachers should anticipate and find ways of addressing the arising demands. Head teachers should prioritize on forming good relationships with teachers as this will inevitable contribute success and better performance amongst students (Avi-Itzhak Ben-Peretz 231). Recent research studies have shown that good relationship between teachers and head teachers is an imperative aspect when it comes to determining the effectiveness and success of schools. Researchers have identified that in successful school, teachers have a positive professional and personal relationship with head teachers. Moreover, in high performing and successful schools head teachers provide teachers with a platform to communicate on issues that affect them and opportunities to develop their careers as teachers (Thoms 196). Conceptual Framework The conceptual framework of this study is based on the assumption that the kind of leadership and motivation strategy employed by school head teachers determines whether or not they have good relationships with teachers. Consequently, the relationship between head teachers and teachers influences the performance of students in schools. Thus good relationships between head teachers and teachers can lead to success and improved academic performance amongst students. Klug (1989) observes that school leaders can determine the motivation amongst teachers by modifying the instructional climate at school. This will in turn determine the attitude of both teachers and students towards education. By efficiently prioritizing on their relationship with teachers head teachers can increase the motivation of students and teachers and directly impact the performance of students (Klug 19). Fredrick Herzbergs theory of motivation further draws a solid conceptual framework for this study. According to Herzberg, there are particular factors in the work environment that lead to quality performance and job satisfaction. At the same time there are certain factors that can bring about poor performance and job dissatisfaction. With reference to the sentiments of Hezerberg, when individuals in a work place are not satisfied with the working conditions they are bound to be less motivated and thus their productivity at work will be affected. Most employees are in search for gratification in terms of recognition, respect, appreciation, responsibility, the nature of their work and advancement. When these conditions are dully met in a work environment employee will feel motivated to give their best in their jobs and as a result pleasant results will be actualized (Oshagbemi 354). Herzberg recommends a two factor model of motivation based on aspects such as the certain characteristics that contribute to the satisfaction of employees at work and other characteristics that contribute to employee dissatisfaction at work. Therefore according to Herzberg both satisfying and dissatisfying characteristics are not in a scale with one increasing as the other diminishes rather these characteristics are independent phenomenas. Herzbergs theory suggests in order for productivity to be enhanced in workplaces, administrators should recognize and address both the satisfying and dissatisfying characteristics. Administrators should not presume that the increase in satisfying factors will inevitably decrease the unsatisfying factors (King 18). The kind of leadership style exercised by schools head teachers determines whether or not they will have good relationships with teachers. Leadership styles can be regarded as the manner in which a person in authority leads. The kind of leadership exercised by school head teachers is reflected on how they communicate with teachers, how they exercise their authority and power, this in turn affects teachers and students. Moreover, the leadership styles articulated by school head teachers influences they way in which they command and motivate teachers to realize the set academic goals. The manner in which school head teachers lead determines if they can effectively motivate teachers and maintain positive relationships with them. The main indicator of effective leadership is the level of motivation that teachers have to diligently have to carry out their duties. In order for teachers to feel motivated to carry out their duties head teachers have to maintain good relationships with teache rs. Thus head teachers should not only give priority to realizing high educational accomplishments but they should also give priority to maintain good interpersonal relationships with teachers. School head teachers should shun from using autocratic forms of leadership rather they should employ leaderships that will promote good relations between them and teachers , they should also exercise leadership styles that will motivate teachers to perform their duties with zealousness (Seashore Taber 346). On the other hand, the reaction of teachers to the leadership of their head teachers depends on the characteristics and values of the teachers. Given the fact tat relationships are two way , teachers also have the obligation of maintaining good relationships with head teachers. According to Seashore and Taber (1975, p 346), the productivity in a work environment is determined by the state of the internal organizational environment characterized by personnel relationship and leadership styles. Teachers are often satisfied with head teachers who are supportive and considerate. A study conducted by Keashly et al (1994, p341) revealed that negative relationship between leaders and employees largely contributes increased absenteeism and reduced productivity (Keashly 341). Basically, the conceptual frame work of this study accentuates that the kind of leadership and motivation strategy employed by school head teachers determines whether or not they have good relationships with teachers. Co nsequently, the relationship between head teachers and teachers influences the performance of students in schools. Based on this theoretical framework, it is apparent that when head teachers maintain positive relationships with teachers schools are bound to be successful (Klug 19). Methodology In this study questionnaires were used as the primary source of collecting data. Questionnaires were preferred due to their suitability for this study, questionnaires enabled the researcher to collect information from a large sample within a short time. The use of questionnaire in this study incurred less costs and time as compared to other methods of data collection. Furthermore, the use of questionnaires in this study ensured confidentiality and as a result respondents were at ease to give honest, candid and objective responses. For this study questionnaires were prepared and distributed to two head teachers and four teachers in two primary schools in Dharan City, Saudi Arabia. The questionnaires largely incorporated closed ended and few open ended questions. The closed ended questions required either the teachers or the head teachers in these schools to reply by marking the relevant multiple choices provided as; always, sometimes, never. On the other hand the open ended questions required the respondents to briefly state their opinion regarding the matter in question. Prior to issuing the questionnaires to the various respondents, the researchers explained to the respondents the purpose and aims of the study. Respondents were encouraged to give honest, candid and objective responses. The questionnaires distributed to the four teachers in the various primary schools had five main sections. The first section consisted of one open ended question and three closed ended questions geared towards evaluating whether the head teachers of the alleged schools helped teachers to develop their careers by providing opportunities that will enable teachers to learn new skills and have new experiences. The second section of the questionnaires distributed to teachers comprised of five closed ended questions and one open ended question geared towards evaluating whether the head teachers of the alleged schools encouraged collaboration amongst themselves and teachers with regards to decision making , educational processes and displinary matters. The third section of the questionnaires comprised of four closed ended questions and one open ended question geared towards evaluating whether the head teachers of the alleged schools build communication processes characterized by trust. The fourth section of the questionnaires comprised of four closed ended questions and one open ended question geared towards evaluating whether the head teachers employed strategies to motivate the teaching staff. The fifth section of the questionnaire comprised of one open ended question assessing the effectiveness of the head teachers leadership. The questionnaires distributed to the two head teachers in the various primary schools had five main sections. The first section assessed whether the head teachers helped teachers to develop in their careers. The second section assessed whether the head teachers encouraged collaboration between them and teachers with regards to educational processes and decision making. The third section assessed whether the head teachers build trustful communication processes that enable teachers to share their ideas and convey their grievances. The fourth section of the questionnaire section assessed whether the head teachers employ strategies geared towards motivating the teaching staff. The final section of the questionnaire sought to find out the challenges that head teachers encounter in their relationships with teachers and how they address these challenges. Notwithstanding the benefits of using questionnaires, the use of questionnaire in this study had certain limitations. For instance the format of the distributed questionnaires made it difficult for the researcher to examine complex opinions and issues. Even in cases whereby open ended questions were used, the respondents were limited such that they could not outline certain issues in a holistic manner. This in turn made it difficult for the researchers collect in-depth details. Results The first section of the questionnaire issued to teachers evaluated whether the head teachers of the alleged schools helped teachers to develop their careers by providing opportunities that will enable teachers to learn new skills and have new experiences. With regards to the question on whether the head teachers helped teachers to take advantage of opportunities to learn new skills all the four teachers issued with the questionnaire, responded that sometimes the head teachers helped then to take advantage of the opportunities to learn new skills. With regards to the question on whether the head teachers help teachers to take advantage of opportunities for new experiences all the four teachers issued with the questionnaire, responded that sometimes the head teachers helped then to take advantage of the opportunities for new experiences. With regards to the question on whether the head teacher looked for ways to help teachers become more successful, two teachers responded by saying al ways whereas the remaining two responded using sometimes. The last question in this section sought to find out the areas that the teachers thought are the most important areas that the head teacher should improve in developing teachers. Most of the teachers responded that attend instructional courses is one of the most important areas that head teachers should address in order to develop teachers. The second section of the questionnaire issued to teachers sought to evaluate whether the head teachers of the alleged schools encouraged collaboration between them and teachers. With regards to the questions on whether the head teachers met teachers every month, listened to the opinions and suggestions of the teachers on educational process and build cooperation with teachers all the four respondents answered that sometimes this happened. With regards to the question on whether the head teachers involved teachers in decision making two out of four teachers responded that sometimes they are involved whereas the remaining respondents answered that they are never involved in decision making. With regards to the question that sought to find out what head teachers should do in order to encourage collaboration, most teachers recommended that head teachers should involve the teaching staff in decision making. The third section of the questionnaire issued to teachers sought to assess whether head teachers build trustful communication process that enable teachers to communicate what is on their mind. Three out of four teachers confirmed that their head teachers never build trustful communication processes. It is only one out of four of the examined teachers who confirmed that their head teachers always build trustful communication processes. All the four examined teachers responded that the head teachers always believed that trust is the foundation for successful collaboration. All the four examined teachers also responded the head teachers in their alleged schools never walk the talk. With regards to the final questing in this section that sought to determine the most important steps that the head teachers should take in order to improve trust. Most teachers recommended that the head teachers should mandate teachers with tasks that will help building trust. The fourth section of the questionnaire issued to teachers sought to assess whether head teachers employ strategies geared towards motivating their teaching staff. The findings of this questionnaire established that all of the examined teachers, felt that sometimes the head teacher employed strategies to motivate them. With regards to the question on the most important areas that the teachers thought that the head teachers should motivate teachers, most teachers responded that the head teacher must estimate innovators works for teachers. The fifth section of the questionnaires issued to teachers sought to establish whether teachers though that the leadership exercised by head teachers was successful. Most teachers said yes because the head teachers in their alleged schools build cooperation and trust between them and teachers. In addition, the head teachers showed the teachers respect. The findings of the questionnaires issued to head teachers indicated that the head teachers sometimes took advantage of opportunities to develop the careers of teachers. The two examined head teachers identified instructional courses as the most important area that required improvement when it comes to developing teachers. The findings of the questionnaires issued to head teachers also indicated that sometimes the head teachers encouraged collaboration amongst themselves and teachers with regards to matters such as decision-making, displinary matters and educational processes. In the questionnaires, the head teachers indicated that the most important areas for improvement with regards to collaboration revolved around decision-making. The finding of these questionnaires also depicted that sometimes the head teachers build trustful communication processes that enable teachers to say what is on their mind. According to the responses of the two head teachers, the most important area that requires improvement when it comes to building trustful communication processes is decision making. The head teachers recommended that teachers should be committed and involved in decision- making. Moreover, the findings of the questionnaires issued to the two head teachers established that sometimes the head teachers employed motivational strategies geared towards motivating the teaching staff. The head teachers recommended that they should create social activity between the teaching staff so as to improve the motivation of teachers at work. One of the key challenges that the head teachers encounter in their relationship with the teachers is the lack of enough teaching staff and as a result, they face challenges when it comes to equally distributing work. Discussion Good relationship between head teachers and teachers is imperative since it determines whether a school system experiences success on its educational goals. Among the key elements that contribute to good relationships between head teachers and teachers include the leadership style that a head teacher uses in the school environment or the motivational strategies that the head teacher employs so as to motivate the teaching staff. According to (Seashore Taber 346), the kind of leadership exercised by school head teachers is reflected on how they communicate with teachers, how they exercise their authority and power, this in turn affects teachers and students. Moreover, the leadership styles articulated by school head teachers influences they way in which they command and motivate teachers to realize the set academic goals. The manner in which school head teachers lead determines if they can effectively motivate teachers and maintain positive relationships with them. The main indicator o f effective leadership is the level of motivation that teachers have to diligently have to carry out their duties. In order for teachers to feel motivated to carry out their duties head teachers have to maintain good relationships with teachers. The findings of the issued questionnaires depict that in the two schools whereby the study was conducted the relationship between the head teachers and teachers is relatively good. This is mainly because based on these findings, it is evident that the head teachers employ leadership styles that to some extent enable teachers to develop in the careers and also take part in the decision making process. Moreover, these finds depict that to some extent the head teachers employ motivational strategies that aim at motivating the teaching staff. For instance, With regards to the question on whether the head teachers helped teachers to take advantage of opportunities to learn new skills all the four teachers issued with the questionnaire, responded that sometimes the head teachers helped then to take advantage of the opportunities to learn new skills. With regards to the questions on whether the head teachers met teachers every month, listened to the opinions and suggestions of the teachers on educational process and build cooperation with teachers all the four respondents answered that sometimes this happened. In addition the finding of this study established that the head teachers in these schools to a certain extent used motivational strategies in order to motivate its staff. This shows that the head teachers in these schools employ certain strategies that promote good relationships between them and teachers. Nevertheless, there is still room for improvement. The case examples of the two primary schools in Dharan City, Saudi Arabia provide a good example of the nature of relationships between head teachers and teachers and how these relationships can be improved. For instance based on the finding of this study , in order for good relationships to be fostered between head teachers and teachers it essential for head teachers to help teachers take advantage of opportunities for new experiences and opportunities to learn new skills. Harris, Day Hadfield (2003, p 67) observe that a healthy work relationship between teachers and head teachers is one that enables and promotes the development of the teachers career. The development of the teachers career may sometimes change the type of relationship between head teachers and the teachers. As teachers gain more experience and skill in their career they become more confident in the articulation of their duties (Harris, Day Hadfield p 67). Moreover, in order for head teachers to establish good relationships with teachers, it is essential for head teachers to create a conducive work environment that will allow teachers to be involved in the decision making process and also a work environment that enable teachers to communicate freely about their opinions and ideas. Additionally, head teachers should employ motivational strategies such as creating social activities for the teaching staff, with the aim of motivating the teaching so that they can enhance their performance. Conclusion The purpose of this study was to establish how good relationships between head teachers and teachers can lead to success and better performance amongst students. Through a review of several relevant literatures, this study established that the form of leadership style that head teachers exercise in their daily running of schools directly determines whether they will have good or bad relationships with teachers. Furthermore, most of the reviewed literatures recommended that head teachers should prioritize on forming good relationships with teachers as this will inevitable contribute success and better performance amongst students. The conceptual framework of this study was based on the assumption that the kind of leadership and motivation strategy employed by school head teachers determines whether or not they have good relationships with teachers. Consequently, the relationship between head teachers and teachers influences the performance of students in schools. In this study, questionnaires were used as the main methods of collecting data. These questionnaires were distributed to two head teachers and four teachers in two primary schools in Dharan City, Saudi Arabia. The findings of these questionnaires depicted that in the two schools whereby the study was conducted the relationship between the head teachers and teachers is relatively good. However, there is still room for improvement for instance in order to establish better relationships with teachers, the head teachers in these schools should a conducive work environment that will enable teachers to be involved in the decision making process, develop in their careers and also a work environment that enable teachers to communicate freely about their opinions and ideas.

Caribbean History :: Socio-Cultural Areas Culture Islands Essays

Caribbean History I. A Note on Historical Methodology: The conventional method of studying history consists of a chronological process. For example, the history of the ‘New World,’ or in particular the history of the Caribbean seems to originate in 1492, the year Columbus mistakenly landed upon Hispanola. Not long after the discovery of the New World, the age of European colonialism in the Americas emerges. This condensed version of the first several decades of European influence in the New World are the common historical accounts rendered about early Caribbean history. How effective and accurate is this seemingly Eurocentric rendition of Caribbean History? There may not be one specific right or wrong answer to this inquiry. However, there are alternative methods of unveiling or unmasking a history lesson by simply starting in media res (in the middle of things) or even in the present times. This methodology of studying history is indeed a retracting and unmasking process in which society and culture convey the history of a particular country or region as the Caribbean. In order to fully grasp the intricacies and complexities of Caribbean one must scrutinize and in a sense deconstruct the social and cultural fibers of the Caribbean. The remnants of colonialism in the Caribbean have created a history manifested in the imagery of society and culture. History in the Caribbean can be unveiled in skin tones and rumbas. The history of the Caribbean lives in architecture as well as behind church doors. Thus, in order to learn about the Caribbean, one must ‘unlearn’ or deviate from the Eurocentric rendition of history in the Caribbean. In the Caribbean, the present (culture and society) tells many truths about the past. II. Methodology in Practice: Michelle Cliff’s novel Abeng and her essay "If I Could Write this in Fire" personify the historical process in the Caribbean. Cliff’s works portray the images of the political, social, cultural, and economic issues discussed by Sidney Mintz and Antonio Benitez-Rojo. Cliff’s literary works depict the contemporary social and cultural constructs of Jamaican society. In this process of interpretation and devolution of Michelle Cliff’s portraits of Jamaican society the remnants of colonialism truly become apparent. Consequently, Cliff’s desire to make sense of the current deplorable conditions of racial inequality has prompted her to ‘look back’ and as she states in her essay: To try and locate the vanishing point: where lines of perspective converge and disappear. Lines of color and class. Caribbean History :: Socio-Cultural Areas Culture Islands Essays Caribbean History I. A Note on Historical Methodology: The conventional method of studying history consists of a chronological process. For example, the history of the ‘New World,’ or in particular the history of the Caribbean seems to originate in 1492, the year Columbus mistakenly landed upon Hispanola. Not long after the discovery of the New World, the age of European colonialism in the Americas emerges. This condensed version of the first several decades of European influence in the New World are the common historical accounts rendered about early Caribbean history. How effective and accurate is this seemingly Eurocentric rendition of Caribbean History? There may not be one specific right or wrong answer to this inquiry. However, there are alternative methods of unveiling or unmasking a history lesson by simply starting in media res (in the middle of things) or even in the present times. This methodology of studying history is indeed a retracting and unmasking process in which society and culture convey the history of a particular country or region as the Caribbean. In order to fully grasp the intricacies and complexities of Caribbean one must scrutinize and in a sense deconstruct the social and cultural fibers of the Caribbean. The remnants of colonialism in the Caribbean have created a history manifested in the imagery of society and culture. History in the Caribbean can be unveiled in skin tones and rumbas. The history of the Caribbean lives in architecture as well as behind church doors. Thus, in order to learn about the Caribbean, one must ‘unlearn’ or deviate from the Eurocentric rendition of history in the Caribbean. In the Caribbean, the present (culture and society) tells many truths about the past. II. Methodology in Practice: Michelle Cliff’s novel Abeng and her essay "If I Could Write this in Fire" personify the historical process in the Caribbean. Cliff’s works portray the images of the political, social, cultural, and economic issues discussed by Sidney Mintz and Antonio Benitez-Rojo. Cliff’s literary works depict the contemporary social and cultural constructs of Jamaican society. In this process of interpretation and devolution of Michelle Cliff’s portraits of Jamaican society the remnants of colonialism truly become apparent. Consequently, Cliff’s desire to make sense of the current deplorable conditions of racial inequality has prompted her to ‘look back’ and as she states in her essay: To try and locate the vanishing point: where lines of perspective converge and disappear. Lines of color and class.

HBS Marriott Case

Marriott Corporation has three divisions – lodging, contract services and restaurants – with dissimilar operations. The company uses three separate hurdle rates for the three divisions to value the proposed projects. It is believed that this strategy is more appropriate that using a single firm-wide discount rate because the operations of the three divisions differ drastically. However, the company has to ensure that the company uses an appropriate discount rate for each division. Therefore, we calculate the appropriate cost of capital for Marriott as well as for each of the three divisions. A detailed analysis is presented about the appropriate calculation inputs for each of the three divisions and various assumptions, made while performing the calculations, are justified. 1) Are the four components of Marriott's financial strategy consistent with its growth objective? The first component of the strategy is to manage rather than own the hotel properties. This objective mitigates the investment needed to launch new hotels, as the general partner is not required to make significant investments. Although it may be argued that such a strategy could decrease the profit margins, the growth prospects are certainly easily achievable because of less limitation on the resources required. The second objective is an important characteristic of modern corporate finance. It believed that focusing on maximizing shareholder value should be the underlying aim of every corporation, leading to stable growth and healthy profits. With regard to the third objective, Miller and Modigliani claimed that the use of debt, in the presence of corporate taxes, could increase the value of a company through the value added by debt tax shield. In modern finance, it is commonly believed that debt can increase the value of a corporation. However, a company should be careful about high debt levels because of the distress costs associated with high debt. As stated by Marriott, a corporation should aim to optimize its debt at the most beneficial level. The repurchase of undervalued shares might not always be consistent with the growth objective. The repurchase program could make sense if the shares are believed to be highly undervalued and the company does not have more attractive investment opportunities to utilize its cash. However, the strategy could also hinder growth if the company is foregoing highly profitable investment opportunities in order to take advantage of slight under pricing in its shares. 2) How does Marriott use its estimate of its cost of capital? Does this make sense? Marriot evaluates its investment opportunities using the discounted cash flow approach, which requires an estimate of the cost of capital. Technically, the cost of capital for each investment should be commensurate with the amount of risk inherent within the investment. Thereby, if a company has ten different prospective investments, it could have ten different cost of capital estimates for the investments. However, it is impractical for companies to estimate a separate cost of capital for each investment opportunity. Usually, a company operates in a uniform line of business and has investment opportunities with similar risks. Therefore, it is normal for companies to use a single firm-wide cost of capital. However, companies with multiple divisions often use separate cost of capitals for the divisions because each division has separate operations and risks. Marriott Corporation has three separate divisions and employs three separate hurdle rates – one for each division. This treatment is consistent with theory as long as the hurdle rates adequately compensates for the risk inherent in each division’s investment and risk does not vary significantly across investments within a division. ) What is the weighted average cost of capital for Marriott Corporation as a whole? What risk-free rate and risk premium do you use to calculate the cost of equity? How do you measure Marriott's cost of debt? There is no agreed-upon measure of riskfree rate that investors could use. In fact, the available riskfree interest rate could be argued to change with changes in business cycles and economic policies. In t he US, the rate offered by US Treasury securities is often deemed riskfree because of the negligible default risk. However, there is a disagreement regarding the maturity of the treasury security that should be used as a proxy for riskfree rate. Since Marriott is seeking to optimize its debt at a long-term stable level, it is believed that the maturity of the company’s debt will be long. Therefore, the 10-year Treasury bond seems to be an appropriate measure of riskfree rate. The cost of debt is calculated by adding the specified risk premium to the selected riskfree rate. The cost of equity can be calculated using the Capital Asset Pricing Model (CAPM). The market risk premium is an important constituent of the CAPM. The market risk premium estimates the premium for the excess risk taken by market participants. Investors can earn a certain degree of return – the riskfree rate – without taking any risk. Therefore, the riskfree rate should be subtracted from the market return to calculate the market risk premium – the extra return that investors earn by taking risk. We already have an estimate of the riskfree rate that can be used for Marriott. Therefore, the market risk premium can be calculated by estimating the appropriate market return. The proxy for market return is usually a national stock index such as the S&P500 for US companies. In contrast to the Treasury bond market, where the yields provide an estimate of the future returns on the security, there is no consensus estimate on the future expected return on the stock market. Therefore, historical averages of stock returns are typically used to estimate the future expected return on the market. We use biggest available period – 1926 to 1987 – to estimate the average historical market risk premium. The information about riskfree rate and the market risk premium can be combined with equity beta of Marriott (provided in the case study) to calculate to cost of equity of the company. Once we have the respective costs of debt and equity, the weighted average cost of capital (WACC) is simply their average – weighted using the target proportion of debt provided in the case study. The calculations in the attached spreadsheet show that the WACC for Marriott is 10. 39%. 4) What type of investments would you value using Marriott's cost of capital? The cost of capital estimates the riskiness of an average investment within the company. If an investment under consideration by Marriott has more risk than the average investment risk, the cost of capital would understate the risk and overstate the value of investment. On the other hand, if an investment has less risk than the average investment risk, the cost of capital would overstate the risk and understate the value of investment. Therefore, the cost of capital is only appropriate for valuing investments, which closely resemble the typical investments carried out by Marriot Corporation. If an investment has a different amount of risk than the typical investment in Marriott, the company should strive to calculate the cost of capital that is consistent with the investment in question. One way of estimating the appropriate cost of capital would be to look at the comparable companies where that particular investment would be a typical investment. For example, an investment in sports equipment could be evaluated by looking at the cost of capital used by a sports club that uses similar equipment. ) If Marriott used a single hurdle rate for evaluating projects in each of its divisions, what would happen to the company over time? Marriott has three separate divisions with dissimilar operations. The firm-wide cost of capital is probably a weighted average of the three individual costs of capital commensurate with each of the three divisions. While the firm-wide cost of capital might be a good measure of the risk of an average investment undertaken by the company, it is proba bly not a good measure of the investment risk inherent in each division’s average project. If the company continues to use a single discount rate for each of its three divisions, the project cash flows of the division with more than average risk would be overstated, while the project cash flows of division with less than average risk would be understated. Therefore, division with more than average risk would start accepting projects that would have been otherwise rejected if a more appropriate higher discount rate were used. On the other hand, the division with less than average risk would start rejecting projects that would have been accepted if a more appropriate lower discount rate were used. In short, the more risky division would accept negative NPV projects, while the less risky division would reject positive NPV projects. 6) What are the costs of capital for the lodging and restaurant divisions of Marriott? The division wise calculations of the cost of capital are shown in the attached spreadsheet. The weighted average costs of capital for the lodging and restaurant divisions are 9. 76% and 13. 32% respectively. It is important to note that the discount rates differ because certain inputs in the calculations are dissimilar. The most significant differences are in riskfree rates, asset betas, and debt proportions. a) What risk-free rate and market risk premium do you use in calculating the cost of equity capital for each division? How do you choose these numbers? There is no full consensus of which proxy for riskfree rate should be used. Nevertheless, it is generally believed that the maturity of the riskfree rate proxy should match the purpose for which the rate is utilized. It is mentioned that the lodging division has more long-term assets, while assets of restaurant division are short-term in nature. Therefore, one-year riskfree rate has been employed in the restaurant division, whereas a higher ten-year rate has been utilized in the lodging division. On the other hand, the market risk premium for both divisions is the same as the market risk premium previously used for the whole company. Although the asset betas for the divisions have been calculated using the past five years data, it is believed that a larger pool of data should be used to estimate the market risk premium because the recent volatility in the markets might distort results. ) Did you use arithmetic or geometric averages to measure rates of returns? The arithmetic mean adds the annual historical risk premiums and averages the results, while the geometric mean is equal to the compounded annual risk premium. In professional practice, both these methods of calculating average historical risk premiums are regularly employed. However, there is a major statistical difference between the two approaches. Geometric mean is a compounded average of risk premiums and is, therefore, a good predictor of the risk premium over multiple future time-periods. On the other hand, arithmetic mean is the best predictor of risk premium for the forthcoming time-period. In other words, arithmetic mean would be better at predicting the risk premium for the next year, while geometric mean would be superior at predicting the average risk premium over the next few years combined. In this case, we are calculating the risk premium for the purposes of using it in the CAPM model. The CAPM is a single period model, which estimates the cost of equity over a specified time interval. Therefore, the arithmetic mean might be a better method in this context. ) How do you measure the cost of debt for each division? Should the cost of debt differ across divisions? The rationale for using different riskfree rates for the division has already been explained in the preceding section. The case study also provides different levels of risk premiums that should be added to the riskfree rate to calculate the total cost of debt. It could be argued that the company only p ays a single cost of debt, and there is no need to calculate separate cost of debt for each division. However, each division has separate financial leverage, different sales, and a unique ability to cover its debt obligations. Therefore, each division’s debt should also be rated separately for more accurate capital budgeting. d) How do you measure the beta of each division? The betas for the divisions have been calculated using the pure play approach. Under this approach, the equity betas for companies, comparable to each division, are unlevered in accordance with the respective leverage. The resulting asset betas are then averaged to obtain an estimate of the asset beta for each division. Subsequently, the respective asset beta for each division is relevered, using the target debt ratio for the division, to obtain the equity beta. ) What is the cost of capital for Marriott's contract services division? How can you estimate its cost of equity when there are no publicly traded comparables? The beta for contract services division cannot be obtained directly because there are publicly traded comparable companies, which could have been used to employ the pure play approach. However, we do have informati on about the asset beta of the overall company as well as the asset betas for the remaining two divisions. Theoretically, the overall asset beta for Marriott should be a weighted average of the individual asset betas for the three divisions. The weights can be calculated using the information about identifiable assets in each division. Thereby, the only unknown in the equation is contract services division’s asset beta, which can be obtained through basic arithmetic. Subsequently, the asset beta can be levered using the target debt proportion to obtain the equity beta, which can be used is the CAPM equation to calculate the cost of equity for contract services division. The WACC for the division is simply the weighted average of its cost of equity and cost of debt. The calculations in the attached spreadsheet estimate the cost of capital to be 8. 4%. 8) Marriott also considered using the hurdle rates to determine incentive compensation. How do we link this with the Economic Value Added (EVA) approach? The objective of any company’s management should be to maximize the shareholder wealth. Shareholder wealth increases when a company consistently produces positive economic value. In this context, economic valu e added is measured as the excess operating profits over the dollar cost of capital. In mathematical terms, economic value added equals net operating profits after tax minus the product of cost of capital and capital employed (dollar amount of WACC). The concept of economic value added is closely linked to the concept of net present value (NPV) calculated using the hurdle rates. Specifically, a positive NPV project will generate positive EVA, while a negative NPV project will generate negative EVA. Therefore, if a company only accept positive NPV projects, calculated using the appropriate hurdle rates, it will generate positive EVA on the profits generated from these projects. Therefore, a manager’s compensation could be linked to the amount of positive net present value that the manager generates through new investments.

Adverb Clause

What do you know about adverbial clause? Adverb clause is a dependent clauses that consists of subject and verd as a unit which takes the place of an adverb in another clauses or pharses. It answers questions such as â€Å"when? †, â€Å"where? †, â€Å"why? †, â€Å"with whwt result? †, and â€Å"under what condition? †. It oftenly modifies verb in the sentences. 2. Mention the kinds of adverb clause! There are some kinds of adverb clause, they are: kind of clausecommon conjunctionsFunctionExample ime clauseswhen, before, after, since, while, as, as long as, until,till, etc. (conjunctions that answer the question â€Å"when? â€Å"); hardly, scarcely, no sooner, etc. These clauses are used to say when something happens by referring to a period of time or to another event. Her goldfish died when she was young. conditional clausesif, unless, lestThese clauses are used to talk about a possible or counterfactual situation and its consequences. If the y lose weight during an illness, they soon regain it afterwards. urpose clausesin order to, so that, in order thatThese clauses are used to indicate the purpose of an action.They had to take some of his land so that they could extend the churchyard. reason clausesbecause, since, as, givenThese clauses are used to indicate the reason for something. I couldn't feel anger against him because I liked him too much. result clausesso†¦ thatThese clauses are used to indicate the result of something. My suitcase had become so damaged on the journey home that the lid would not stay closed. oncessive clausesalthough, though, whileThese clauses are used to make two statements, one of which contrasts with the other or makes it seem surprising. I used to read a lot although I don't get much time for books now. place clauseswhere, wherever, anywhere, everywhere, etc. (conjunctions that answer the question â€Å"where? â€Å")These clauses are used to talk about the location or position of s omething. He said he was happy where he was. clauses of manneras, like, the wayThese clauses are used to talk about someone's behaviour or the way something is done.I was never allowed to do things as I wanted to do them. Table 1. adopted from http://en. wikipedia. org/wiki/Adverbial_clause 3. Example of adverb clause a. The government of resource-poor Japan and the utility companies contend nuclear reactors must come back online after thorough safety checks to avoid possible rolling blackouts this summer and excessive reliance on imports of liquid natural gas, coal and other expensive fuels for conventional power plants. The underlined above is adverb clause of time. It modifies the verb come back. . Tokyo housewife Setsuko Naoe says she felt compelled to join the protests because officials have not learned any lessons from the Fukushima meltdowns. The underlined above is adverb clause of reason, it modifies felt compelled to join the protests. c. Asakawa says since the 1960s, Japa n has not seen such large street demonstrations, which also took place in the same location. But these rallies are different he points out – as they are not composed of radical, young people but are rather part of a diverse grassroots movement.The underlined above is adverb clause of time, it modifies has not seen’ d. Japan may be forced to halt all state spending including salaries, pensions and unemployment benefits, because of a standoff in parliament that has blocked a bill to finance the deficit. The underlined above is adverb clause of reason. It modifies the verb may be forced. e. â€Å"The giant pandas are messengers of friendship,† he said. â€Å"We hope that people-to-people sentiment and overall relations between China and Japan can be promoted because of the birth of the cub. † The underlined above is adverb clause of reason.It modifies can be promoted. f. Victoria only learned the truth when she became an adult. The underlined above is an adv erb clause of time. It modifies learned. g. â€Å"With this verdict we can start repairing the damages caused by our history, even though this history still causes us pain,† she adds. The underlined above is an adverb clause of concessive. It modifies start repairing. h. Some either prefer not to know or when they do find out they remain with the parents who raised them – even if they were directly involved in the death of their biological parents.The underlined above takes place as an adverb clause of conditional. It modifies prefer not to know. i. When her adoptive father told her that her parents were left-wing activists that he himself had helped to arrest, she replied: â€Å"I understand that you had to do it. † The underlined above is adverb clause of time. It modifies the verb replied. j. â€Å"The worst years came when I started to come to terms with my situation and I had this huge internal emotional debate,† she says. The underlined above is adv erb clause of time. It modifies the verb came. 4.Comparison and the differences among Noun, Adjective and Adverb clause. Three of the clauses above same in the content, their clauses consist of subject and verb. While the differences among them the functions and what they modify. Noun clause takes place as noun in the sentences, it may be appear as subject or object. Noun clause often modifies the noun in the sentence. Adjective clause takes place as an adjective in the sentence. It also modifies the noun in the sentence. And adverb clause takes place as an adverb in the sentences, it modifies the verb in the sentence.