Rape fantasies :: essays research papers

Written in 1977, "Rape Fantasies" appears to be a recap of a conversation among several women during their lunch hour, a few of them playing bridge, one--Chrissy the receptionist--reading aloud from a tabloid. When Chrissy asks the question, "How about it, girls, do you have rape fantasies?" the story unfolds with each woman's response, all retold from the perspective of Estelle, who's doing her best to deflect the entire conversation by concentrating on her bidding. The conversation is tragically ironic, moving from woman to woman, Darlene calling the entire subject "disgusting," Greta describing a Tarzan-like scenario, Chrissy describing hers in a bubble bath, when Estelle, ever the voice of reason, reminds them that what they're describing are sexual fantasies: "Listen . . . those aren't rape fantasies. I mean, you aren't getting raped, it's just some guy you haven't met formally who happens to be more attractive than Derek Cummins . . . and you have a good time. Rape is when they've got a knife or something and you don't want to" (104.) Estelle then describes her rape fantasy where she deflects her attacker by squirting juice from a plastic lemon in his eyes ("You should hear the one about the Easy Off Cleaner"), but also includes the one where "this short, ugly fellow comes up and grabs my arm . . . [and] I say, kind of disgusted, 'Oh for Chrissake,' and he starts to cry," which prompts a wave of sympathy in Estelle (106). And there are more, each with Estelle warding off her attacker through outsmarting him ("I've just found out I have leukemia"), or talking him out of it. As the narrative continues, the reader becomes aware that Estelle is addressing someone in addition to the reader--"I hope you don't mind me holding my nose like this . . ." (107) and that person is probably a man (twice Estelle says, "But I guess it's different for a guy"). As the story ends, we realize that Estelle all along has been in a bar, speaking to a man she has just met, worrying about the possibility she will be raped by him. "Like, how could a fellow do that to a person he's just had a long conversation with, once you let them know you're human, you have a life too, I don't see how they could go ahead with it, right?

Financial Maths

FINANCIAL MATHEMATICS 1. RATE OF RETURN 2. SIMPLE INTEREST 3. COMPOUND INTEREST 4. MULTIPLE CASH FLOWS 5. ANNUITIES 6. LOAN REPAYMENT SCHEDULES Financial Math Support Materials Page 1 of 85 (1) RATE OF RETURN FINANCIAL MATHEMATICS CONCERNS THE ANALYSIS OF CASH FLOWS BETWEEN PARTIES TO A CONTRACT. IF MONEY IS BORROWED THERE IS AN INTIAL CASH INFLOW TO THE BORROWER BUT AFTERWARDS THERE WILL BE A CASH OUTFLOW IN THE FORM OF REPAYMENTS. A person borrows $100 and promises to repay the lender $60 after 1 year and $60 after 2 years. Show the resulting cash flows for the borrower and lender. Financial Math Support MaterialsPage 2 of 85 Time Now 1 End of 2 years Borrower 0 End of 1 year Lender 2 $100 is loaned out $120 is received back The extra $20 is the lenders compensation for foregoing current consumption to obtain future consumption. The lender requires compensation for: Financial Math Support Materials Page 3 of 85 THE â€Å"TIME VALUE† OF MONEY CONSIDER A CHOICE OF ? $100 NOW, OR ? $100 LATER ANY RATIONAL PERSON WOULD CHOOSE $100 NOW! BUT WHY? â€Å"MONEY HAS A TIME VALUE† Financial Math Support Materials Page 4 of 85 Time Value of Money (TVM) ? Refers to the difference between ? The concept enables ? Provides the means for valuing multiple cash lows that occur at different times The level of interest rates is the index used to determine prevailing TVM. Interest rates are determined by the level of †¦ For every type of financing transaction there is potentially a different interest rate. Interest rates are distinguished by the nature of the underlying transaction and focus on three characteristics: ? ? ? Financial Math Support Materials Page 5 of 85 An important aspect of valuation is applying the appropriate interest rate. For example, valuing a fixed-rate loan to a highly speculative company using a government bond rate is inappropriate; an adjustment must be made reflecting he relative creditworthiness of the borrower. While different TVMs may exist for every borrower and lender, it is the Most financial math formulae are a form of present value calculation; that is, these formulae identify the future cash flows of a financial instrument and then calculate the value at which these instruments could be exchanged for cash today. Financial Math Support Materials Page 6 of 85 RATE OF RETURN Suppose I purchase a watch for $200 and sell it a year later for $250. What is the dollar return and rate of return of this transaction? Financial Math Support Materials Page 7 of 85 Interest Interest a fee for borrowing money – about as old as civilisation itself Prime rate – the interest charged to the largest and most secure corporations. Interest is a cost to business, hence it is very important to understand how it is calculated and how it impacts on the business. There are two basic types of interest Simple Interest and Compound Interest Simple Interest Compound Interest Financial Math Support Materials Page 8 of 85 (2) SIMPLE INTEREST When a financial institution quotes an interest rate for a loan it can do so in different ways. For example, a quote 10% p. a. simple interest has different cash flows than a quote of 10% p. . compound interest payable quarterly. If the quote is offered as a SIMPLE INTEREST RATE, then the rate is taken as a proportion of the initial loan amount. eg 12% p. a. (SIMPLE), is equivalent to 1% per month, or 3% per quarter, or 6% semi-annually. * NOTE – The quoted rate is often referred to as the nominal rate. Financial Math Support Materials Page 9 of 85 SIMPLE INTEREST Suppose we lend $300 and quote a simple interest rate of 8% p. a. What will be the interest and repayment if the loan is made over: (a) six months, (b) one year, (c) three years. (a) 8% p. a. = Interest = Repayment = (b) Interest = Repayment = (c) 8% p. a. =Interest = Repayment = Financial Math Support Materials Page 10 of 85 Symbolically: Interest amount = I = P i t P ~ principal (or amount bor rowed = PV) i ~ rate of interest as a percentage t ~ time is the number of years, or fraction of a year, for which the loan is made The simple interest (I) charged on a loan of $800 for 2. 5 years at 8. 5% is: I = Pit = Simple interest is usually associated with short-term loans, that is, less than 12 months. In the formula time (t) is expressed in years, or fraction of a year. Example: $800 for 9 months at 8. 5% is: I= Financial Math Support Materials Page 11 of 85 Example: $800 for 88 days at 8. % is: I = Pit At the end of the period the amount repaid is: FV = PV(1 + t i) Where t represents the fraction of a year during which the money is borrowed. Financial Math Support Materials Page 12 of 85 SIMPLE INTEREST In general, the amount repayable, or Future Value (FV) of a loan quoted as simple interest is given by: ? ? ? ? f ? i? FV ? PV 1 ? 365 ? ? ? ? ? ? Where: FV – is the future value (amount repayable) PV – is the present value (Principle) f – is the numbe r of days i – is the annual simple interest rate PV = EQUIVALENTLY, Financial Math Support Materials FV ?f? 1+ ? ?i ? 365 ? Page 13 of 85 SIMPLE INTEREST Question 4(a) from 2001, 2nd semester final exam) Leanne buys a watch for $80 and sells it a month later for $85. What nominal annual interest rate of return does she earn? Rate of return in one month = Annual nominal rate = Financial Math Support Materials Page 14 of 85 Principal unknown A borrower can pay an interest amount of $120 at the end of 6 months. If the current interest rate for personal loans is 9% what is the maximum that can be borrowed, that is, what is PV? ? f ? i I ? PV ? ? ? 365 ? I PV ? ?f? ? ?i ? 365 ? Note: Financial Math Support Materials Page 15 of 85 Interest rate unknown A loan of $18,000 for 8 months had an nterest charge of $888. What was the annual rate of interest rate? ? f ? i I ? PV ? ? ? 365 ? I i? ?f? ? ? PV ? 365 ? Financial Math Support Materials Page 16 of 85 Rayleen’s birthday was on the 14th August last year. On this date she received a gift of $4,800 from her family which she placed in an interest earning account at a nominal rate of 5. 75% per annum. If she withdraws all funds in the account on the 8th April this year, how much will she receive? How much interest is earned? August September October November December January February March April 17 30 31 30 31 31 29 31 8 Total number of days = 237 ? ? f FV ?PV ? 1 ? ? ?i ? ? ? 365 ? ? FV = I= Financial Math Support Materials Page 17 of 85 Barns & Co Ltd. currently has a non tradable bank note with a face value of $500,000 that will mature in 85 days. Barns & Co has negotiated with its lender to obtain a loan using the note as security. The lender requires an establishment fee of $440 and charges simple interest of 9% pa. How much will Barns & Co receive, and what is the total cost of the funds? ? ? f FV ? PV ? 1 ? ? ?i ? ? ? 365 ? ? ent ? Establishm ? FV PV ? ? f? ? fee ? ? 1? ? ?i ? 365 ? Cost of funds Cost in simple interest terms Financial Math Support Materials $500,000 – $489,295. 68 = $10,704. 32 = Page 18 of 85 A bill with a face value of $500,000 and term to maturity of 180 days is sold at a yield of 8% p. a. What are the proceeds of the sale? Proceeds = PV ? PV ? FV ?f? 1? ? ?i ? 365 ? $500,000 ? 180 ? 1? ? ? 0. 08 ? 365 ? PV ? $481, 022. 67 Calculate the effective annualised return for a $100,000 investment which earned: ? 6. 5% p. a. for 90 days, then ? 7. 5% p. a. for 60 days, then ? 6. 2% p. a. for 45 days Value of investment after 90 days: 90 ? $100,000 ? 1+ ? 0. 065 = $101,602. 70 ? ? 365 ? Financial Math Support Materials Page 19 of 85 Value of investment after 90 + 60 days:Value of investment after 90 + 60 + 45 days: Value after 195 days = $103,641. 60 Annualised return = Financial Math Support Materials Page 20 of 85 APPLICATIONS OF SIMPLE INTEREST ? TREASURY NOTES ? BILLS OF EXCHANGE ? PROMISSORY NOTES – WHEN CREATED (ISSUED) – WHEN TRADED LA TER We cover these applications in greater detail in a later topic. Financial Math Support Materials Page 21 of 85 (3) COMPOUND INTEREST THE BASIC IDEA: ? PRINCIPAL GENERATES INTEREST ? RE-INVEST INTEREST TO GENERATE STILL MORE INTEREST ? RE-INVEST AGAIN TO GENERATE EVEN MORE INTEREST . . .etc Financial Math Support Materials Page 22 of 85 COMPOUND INTERESTSuppose we invest $100 000 at 10% p. a. with interest payable annually. What annual cash flows result from this investment? $100,000 Invested at 10% Compound Interest $800,000 Amount $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Time in years Financial Math Support Materials Page 23 of 85 A LGEBRAICALLY ? ? ? ? ? ? Balance at end of year ? ? ? ? ? ? ? Balance after ? ? ? ? ? n FV = Financial Math Support Materials Balance at start of year ? ? ? ? ? ? (1? i) years is: PV(1 + i) n Page 24 of 85 G ENERALISING Suppose we invest $100 000 at 10% p. a. with nterest payable annually. What is the future value of this investment after 4 years? FV = $ Financial Math Support Materials Page 25 of 85 T HE POWER OF COMPOUNDING WITH COMPOUND INTEREST, â€Å"SMALL† SUMS NOW BECOME â€Å"LARGE† SUMS LATER (a) $1000 AT 13% pa FOR 50 YEARS : FV = $ (b) $1000 AT 14% pa FOR 50 YEARS : FV = $ Financial Math Support Materials Page 26 of 85 PRESENT VALUE : REARRANGING THE COMPOUND INTEREST FORMULA: PV ? FV n (1 ? i) COMPOUNDING NOW SHOWS THAT â€Å"LARGE† SUMS TO BE PAID LATER ARE WORTH ONLY â€Å"SMALL† SUMS NOW What is the present value of $1 million to be paid in 100 years’ time if the interest rate is 15% pa?Financial Math Support Materials Page 27 of 85 PRESENT VALUE : (Question 5 from 2001 2nd semester final exam) Tran Van Ng is to receive from his parents $1,000, $1,500 and $2,500 in 1 year, 2 years and 3 years respectively if he passes all subjects in his university degree each year. (a) What is the present value of th ese cash flows assuming a discount rate of 9% over the three years? (b) What is the present value of this these cash flows assuming a discount rate of 9% in the first year, 8% in the second year and 6% in the third year? Financial Math Support Materials Page 28 of 85 Present Value (a) PV ? $1, 000 ?1. 09 ? 1 ? $1,500 ?1. 9 ? 2 ? $2,500 ?1. 09 ? 3 ? $4,110. 41 (b) The value today of $2,500 received in 3 years time? 0 1 2 3 $2,500 Financial Math Support Materials Page 29 of 85 Measuring Average Growth Rates COMPOUND INTEREST IS A SPECIAL CASE OF COMPOUND GROWTH WHERE THE GROWTH RATE IS THE SAME EACH PERIOD IN COMPOUND GROWTH GENERALLY, THE GROWTH RATE MAY CHANGE EACH PERIOD IN PRACTICE, GROWTH RATES CHANGE FROM YEAR TO YEAR. WE NEED TO BE ABLE TO CALCULATE THE FUTURE VALUE AND PRESENT WHERE VALUE RATES THROUGHOUT OF OF THE AN INVESTMENT RETURN LIFE CHANGE OF THE INVESTMENT. Financial Math Support Materials Page 30 of 85 Measuring Average Growth RatesSUPPOSE YOU INITIALLY INVEST $1,000 IN AN ASSET WHOSE VALUE CHANGED YEAR BY YEAR, AS FOLLOWS: YEAR GROWTH RATE %pa 1 2 3 4 5 35 15 9 What is the future value of this investment? What is the average annual growth rate of this investment? After 4 years, the value of the asset is : Financial Math Support Materials Page 31 of 85 Measuring Average Growth Rates AVERAGE ANNUAL GROWTH RATE (g) NOTE THAT THE ANSWER IS NOT: Financial Math Support Materials Page 32 of 85 Average Growth Rate Suppose we invest $1million in an asset whose value changes as follows, year 1 growth rate 20% 2 -8% 3 -15% 4 3% What is the future value of this nvestment? What is the average annual growth rate of this investment? Financial Math Support Materials Page 33 of 85 Average Growth Rate The average annual growth rate is : Financial Math Support Materials Page 34 of 85 Average Growth Rate (Question 6(a),(b) from 2001 2nd semester final exam) House prices in Melbourne have soared in the past four years. The median price of a house in Clayton at the end of each year is as follows: 1997 – $122,000 1998 – $135,000 1999 – $147,000 2000 – $185,000 (a) What is the annual compounding growth rate for housing prices calculated at the end of each year, that is 1998, 1999 and 2000? b) What is the average annual compound growth rate for housing prices over this period? Financial Math Support Materials Page 35 of 85 Average Growth Rate (a) 1998 – 1999 – 2000 – (b) ?1 ? r ? ? 3 Financial Math Support Materials Page 36 of 85 Calculating Average Growth rate – continued g = average growth rate The average rate of growth per period over n time periods is: n ? ? ? Value at end – Value at beginning ? 1 + g ? = ? 1 + ? ? Value at beginning ? ? ? ? Solving for g, 1 ? Value at end – Value at beginning ? n g = ? 1 + ? -1 Value at beginning ? ? 1 $185,000 – $122,000 ? 3 ? g = ? 1 + ? -1 $122,000 ? ? 1 ?3 ? g = ? 1. 16793 ? ? ? – 1 = 0. 148869 g = 14. 89% Financial Mat h Support Materials Page 37 of 85 Real (after Inflation) Interest Inflation reduces the purchasing power of money. We require a methodology to adjust rates of return for the impact of inflation. TODAY 1 box of biscuits costs $2. 00 I have $200 I can consume 100 boxes of biscuits IN ONE YEAR Inflation rate (10%) 1 box costs $2. 20 To consume the same quantity of biscuits I will require To have a real return of, say, 4% pa, I need to be able to purchase 104 boxes. Financial Math Support Materials Page 38 of 85 Real (after Inflation) Interest Real increase in consumption of 4%Financial Math Support Materials Page 39 of 85 Real (after Inflation) Interest FORMULA : (1 + q) = (1 + r)(1 + p) where : q is the quoted interest rate r is the real interest rate p is the inflation rate A lender quotes an interest rate of 18% pa for an investment. If the inflation rate is currently at 4% pa, what is the real interest rate earned by the investor ? Rearranging: Financial Math Support Materials (1 + q) = (1 + r)(1 + p) Page 40 of 85 EFFECTIVE and NOMINAL (QUOTED) Interest Rates A BANK LENDS $1,000 AND QUOTES AN INTEREST RATE OF: (a) 12% pa, payable quarterly (that is, 3% each quarter) (b) 12% pa, payable semi-annually that is, 6% each half year) (c) 12% pa, payable annually (that is, 12% at the end of the year) How much interest does the bank earn at the end of one year under each of these three scenarios? Financial Math Support Materials Page 41 of 85 EFFECTIVE and NOMINAL (QUOTED) Interest Rates ? interest rate of 12% pa, payable quarterly REPAYMENTS $30 $30 1 2 $30 3 $30 4 Quarter The value at the end of the year of the interest payment in the The bank has effectively earned : Financial Math Support Materials Page 42 of 85 EFFECTIVE and NOMINAL (QUOTED) Interest Rates ? INTEREST RATE OF 12% pa, PAYABLE SEMI ANNUALLY REPAYMENTS $60 1 $60 2 Half YearThe value at the end of the year of the interest payment in the The bank has effectively earned : Financial Math Support Materia ls Page 43 of 85 EFFECTIVE and NOMINAL (QUOTED) Interest Rates ? INTEREST RATE OF 12% pa, PAYABLE ANNUALLY REPAYMENTS $120 1 YEAR The value at the end of the year of the interest payment is $120 The bank has effectively earned : Financial Math Support Materials Page 44 of 85 EFFECTIVE and NOMINAL (QUOTED) Interest Rates So a quoted (Nominal) interest rate of, 12% pa payable = 12. 55% payable annually. quarterly 12% pa payable = 12. 36% payable annually semi annually 12% pa payable = 12. 00% payable annually nnually To compare interest rate quotations (the nominal interest rate) we refer to an effective interest rate, that is, the interest rate that we would receive if interest were paid once at the end of the year. In the above example: Nominal (Quoted Rate) 12% pa payable quarterly 12% pa payable semi annually 12% pa payable annually Financial Math Support Materials Effective Rate 12. 55% pa 12. 36% pa 12. 00% pa Page 45 of 85 Formula Development If the nominal rate is j percent pa , compounding m times pa, Then after one year the principal, P, becomes: m j? ? S = P ? 1 + ? m? ? (C1) The effective annual interest rate, i, is therefore: = S-P S = -1 P P (C2) Replacing S in (C2) with equation (C1) produces: j? ? P ? 1 + ? m? ? i= P m -1 m j? ? i = ? 1 + ? m? ? Financial Math Support Materials ?1 (C3) Page 46 of 85 Effective and Nominal Interest Rates (a) NOMINAL TO EFFECTIVE If the nominal rate is 15% p. a. payable monthly, then the effective rate is : (b) EFFECTIVE TO NOMINAL If the effective rate is 15% pa then the nominal pa, with monthly payments, is : Financial Math Support Materials Page 47 of 85 Effective and Nominal Interest Rates (Question from 2002 mid semester exam) Abdul Hafahed purchases a car for $5,000 and sells it four months later for $6,000. a) What nominal annual rate of return did Abdul receive? (b) What effective annual rate of return did Abdul receive? (c) If inflation is at 2% pa, what real annual effective rate of return did Abdul receive ? Show your calculations. Financial Math Support Materials Page 48 of 85 Effective and Nominal Interest Rates (a) Four month return Annual nominal return = (b) Effective rate (c) Real annual effective rate : (1 + q) = (1 + r)(1 + p) Financial Math Support Materials Page 49 of 85 Compound Interest Formula j? ? FV = PV ? 1 + ? m? ? n Where: FV = future value PV = principal (present value) j = interest rate per annum as a percentage = mT = total number of periods over which investment is held m = number of interest payments per annum Solving for other terms by rearranging variables: PV = FV j? ? 1+ ? ? m? ? n 1 ? ? ? FV ? n ? j = ? – 1? m PV ? ? ? Microsoft Excel functions: Future value: FV(rate, nper, pmt, pv, type) Present value: PV(rate, nper, pmt, pv, type) Financial Math Support Materials Page 50 of 85 CONTINUOUS COMPOUNDING Nominal interest rate We know j? ? FV ? PV ? 1 ? ? ? m? mT Number of years Number of compounding periods per year What if compounding takes place at every moment, that is ? m ? ? ? . It can be shown that as ? m ? ? then: m j? ? j ?1 ? ? ? e lim ? m ? m where e is the base of natural logarithms (e ? 2. 71828) The Future value formula then reduces to: FV ? PVe jT or, FV ? jT PV ? jT ? FVe e Financial Math Support Materials Page 51 of 85 COMPOUNDING FREQUENCY $1,000 invested for 1 year at 12%: Compounding frequency Payment at end of year Annual Semi-Annual Quarterly Monthly Daily Continuously ? As the compounding frequency increases for a given nominal interest rate, the higher the interest repayments. However the interest repayment reaches a maximum with continuous compounding. Financial Math Support Materials Page 52 of 85Continuously Compounded Returns Nominal interest rate Recall FV ? PVe Using the notation and r where r ? jT . pt ? 1 ? PV pt ? FV pt ? pt ? 1e then Number of years rt pt e? pt ? 1 rt and rearranging we have; ? pt ? ln? e ? ? ln? ?p ? ? ? t ? 1 ? rt and ? pt ? ? rt ? ln ? ?p ? ? ? t ? 1 ? rt is the continuously c ompounding return from time period t-1 to t. Financial Math Support Materials Page 53 of 85 Continuously Compounded Returns pt Note: the term pt ? 1 is referred as the Price Relative. It is the proportional price change from time t-1 to t. The logarithm of the price relative is the continuously compounding return.Continuously compounding returns are often easier to work with. Two important properties: (1) Continuously compounding returns over a period can be added up to give a total continuously compounding return. (2) The average continuously compounding return over a period is the arithmetic average of each individual continuously compounding return. Financial Math Support Materials Page 54 of 85 Continuously Compounded Returns A stock price has a closing price of $3. 00, $3. 25 and $2. 90 over 3 days. What is the continuously compounding return on each day? What is the total and average continuously compounding return? Time 0 1 Price 3. 00 . 25 2 Return 2. 90 Total return from ti me 0 to 2 = Financial Math Support Materials Page 55 of 85 Continuously Compounded Returns An investor is given a choice of: (a) investing at 16. 5% p. a. , (b) investing at 4% per quarter, for 1 year (c) investing at 16. 3% p. a. and compounded daily. (d) 16. 3% p. a. continuously compounding. Which investment is chosen? Financial Math Support Materials Page 56 of 85 Calculate the effective rate in each case. (a) 16. 5% pa (b) (c) (d) Financial Math Support Materials Page 57 of 85 (4) MUTIPLE CASH FLOWS Cash Flow Stream : Future Value 0 1 2 3 $200 3. 5 $450 4 5 6 $800 1 2 3 If interest rate 9%pa = $1,712. 50 1 :$ 2 :$ 3 :$ Stream Future Value Financial Math Support Materials Page 58 of 85 Cash Flow Stream : Present Value 0 1 2 3 $200 3. 5 $450 4 5 6 $800 1 2 3 If interest rate = 9%pa 1 2 3 Stream Present Value = $ Financial Math Support Materials Page 59 of 85 Net Present Value – NPV The present value of the following stream of cash flows, using a discount rate of 7. 5%, is: 0 Cash flows: 1 2 3 $880 $560 $420 4 $980 PV’s =$ Suppose it cost the investor $2,000 to purchase this stream of cash flows, the net present value of this stream is: NPV = -$2,000 + $ =$ outflow Investment projects where NPV ? 0 are viable.Financial Math Support Materials Page 60 of 85 Internal Rate of Return – IRR One period: YEAR $ 0 -1000 1 +1120 Dollar return = $ Equivalently, solve for r : What value of r will produce an NPV = 0 ? PV of $1,120 Using discount Rate of r for 1 period Financial Math Support Materials No discounting required since $1,000 occurs â€Å"now† Page 61 of 85 Internal Rate of Return – IRR Two periods YEAR $ 0 -1000 1 +1120 2 + 25 Clearly, IRR > 12% pa but IRR < 14. 5% pa Why? Because this would be the rate of return if the additional $25 was received in year 1. That is, Thus 12% < IRR < 14. 5% But where in this range is the IRR ?

Marketing Influence Essay

Thesis Statement. Marketing affects one’s everyday life in the sense that it influences people decision making as well as their consumption preferences. This paper illustrates how marketing affects one’s life but it also explains the fundamentals of marketing which product design, packaging, trademarks, branding, pricing, distribution, communications. Introduction Marketing can be viewed as the process where organizations collect their resources to match the ever changing needs of their consumers. Consumers are very important as they determine the mere existence, survival and growth of any organization. Marketing is also viewed as the manner in which organizations address the issues surrounding their markets. (Geoff L and Frank W, 12). The Chartered Institute of Marketing defines marketing as the management process that identifies, anticipates and supplies the customers’ requirements efficiently and profitably. For effective marketing to take place clients or customers must be given priority.    Marketing is a vital or rather a very important aspect in ensuring the survival of any business. The major aims of any business are to ensure survival, profits and growth. Marketing comes in handy to ensure that businesses attain this objectives or goals. Marketing entails various activities like accessing customer wants through intensive market research, analyzing those needs and establishing a way forward in ensuring that those needs are satisfied. It also entails the designing of products, price determination, distribution, distribution strategies and effective communication to both potential as well as the current customers. (Geoff L and Frank W, 52). Many businesses have emerged today and competition is high for almost all businesses. There is higher supply than demand and businesses have to undertake intensive marketing if they are to survive. Marketing involves advertisement, effective research promotional sales and direct sales. The role of marketing should not be left entirely to the marketing department of an organization or company if is to be successful. Effective research entails the thorough establishment of what the target population expects from the organization and trying to find out if the organization is actually satisfying those needs. Here, the company identifies its stand or position in satisfying consumer’s needs. The questions that emerge include where the company is, how it got there, where it intends to reach and how it plans to get there. It is very important that effective research is carried out as it provides accurate information on consumer behavior, which is very important in the decision making process. (Geoff L and Frank W, 35). Accurate information would mean that quality decisions can be reached at and this is good for business. Another advantage of marketing research is that through it an organization can identify possible potential markets which it can exploit to increase its competitiveness in the market. Through research a firm can access the market trends and this is very vital in ensuring that effective and timely decisions are made. Marketing research reduces the costs that an organization could have incurred in its operations as it can exploit the accurate information provided to make effective decisions. Without the research organization risk making incompetent decisions based on trial and error basis and this can see them incur high costs of operation. Market research can be carried out through interviews either sent by mail or via telephone. It can also be through a face to face interviewing. Marketing must be effective in the sense that it has to produce tangible results. It must also be profitable, integrated and strategic. The marketing management process entails the analysis of a company’s current position, its objectives or goals and how it plans to achieve the objective set. Implementation must follow so as to attain the set objectives. (Geoff L and Frank W, 10).   It is critical that market planning is carried out as it ensures that the aspect of the future is incorporated in the marketing process. Planning works to ensure that there is effective coordination among an organization’s departments. It is easier to control or monitor the progress as development of performance standards are easy to establish. Planning ensures that the unforeseen events are provided for effectively and the chances of success are higher when there is effective market planning than where it is lacking.   An organization must also be very critical in ensuring that it responds affectively to criticisms so that it neutralizes would be negative effects of the media might have against it. An effective marketing mix creates a positive impact in the market. A marketing mix focuses on product, pricing, promotion and placement of the product in the market. (Ross D, 89) Strategies adopted must always be consumer oriented and the organization must be focused in ensuring that there is high accessibility in the market. Placement or location of a business affects the sales that it makes and it therefore becomes very critical to ensure that effective research is taken. When determining the location important aspects like the demographics of the area are very important. A strategic position is an easily accessible one where many people can be able to reach at or where customer exposure is maximized.    Product design Product design identifies the perfect or ideal shape that a customer would prefer the products appear like. Products or services produced must be customer oriented. Organizations must produce those products that are of much value to their target buyers. They must also exploit their competitors’ weaknesses or shortcomings by producing products with what they simply do not offer. Customer needs are affected by the various factors like culture and effective or intensive market works to establish this.   Communications   Ã‚  Communication is a very vital aspect in the marketing process of any business or organization. It involves the dissemination of information about products or services that an organization produces. Vertical communication which means up and down the hierarchical ladder in an organization must be enhanced so that important decision making is not tampered with.   Ã‚  Ã‚   Good relationships or cooperation with the other departments is critical. The human resources for instance affect the efficiency in marketing. This is because it is responsible for the provision of personnel that will be required to work in the organization. If it provides experienced and qualified staff the chances of the marketing process yielding positive effects are high. The finance department is important in allocating the finances needed to make marketing a success. The production is also critical in the sense that it has to ensure that there is no deficit between the demand created and supply. It is its responsibility to make sure that successful marketing is not challenged by insufficient supply in the market.   On establishing the existing potential customers an organization has to go the extra mile of identifying their current and future needs before selecting or establishing the most appropriate means of satisfying those needs. After this they communicate to the customers on the strategies that they have established. (Geoff L and Frank W, 78). In her interview, Cisco’s Luanne Tierney argues that communication must be effective if marketing is to be a success. Good communication must be in existence within an organization both internally as well as externally. (Roy Young). On conducting the market research effective communication must be ensured between the market researchers and organizations decision makers. Good communication must also exist between organizations their customers. The establishment of an IT department can help improve an organization outward or external communication. By exploiting the Internet, an organization can establish a website where all information on their products or services is easily accessible. E- Marketing can be very effective in increasing the organization’s sales. It can also ensure that there is quick response to customers’ queries and this has a positive effect in the marketing process. Online shopping has gained popularity and most organizations can use it to increase their sales. It has the economical advantage over other forms of marketing. Where an organization offers wide and exhaustive information on the products that it produces more customers are likely to be more attracted and this works to increase the sales. Establishing personalized services is also an important way of ensuring that an organization registers increased sales. Communication refers to the manner by which meaningful information is exchanged. Effective communication ensures that there is a two way flow of information to ensure that there is a quick response or feedback. Noise or distractions must be evaded as much as possible as they hinder effective transmission of important information. To reduce the disruptions marketers can hold meetings in conference facilities. They can also be keen when advertising so that they do not place their adverts next to their competitors as this can confuse their target population.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Giving allowance for feedback is important in establishing how the audience decoded the information conveyed. This provision can be through the use of phone calls, e mails and internet chats all of which offers swift responses. Branding,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Product branding is also very important in the marketing process. It is appropriate for marketers to be very creative when branding their products. Before making the final decision regarding the brand that is to be used it is appropriate to carry out effective research so as to fulfill the customers’ needs. (Geoff L and Frank W, 100). Research can help an organization decide if it would be appropriate to invent new brands and it also helps in deciding the factors that ought to be addressed, enhanced or changed. Research can also establish if it would be economically viable to introduce two or more line of products or one would be enough. (Anholt S, 56).   Pricing   Ã‚  The price attached to any good or service reflects its value in the market. Pricing affects the product position in the market and is a critical issue due to the direct it has on demand. It also affects the other marketing mix for instance the product features, distribution channels as well as promotion.   When determining the price of a new product it is important that an organization carries out an effective market analysis, segmentation and targeting. Costs incurred both variable and fixed also ought to be incorporated when determining the price. It is also appropriate to estimate a demand curve and try establishing where the equilibrium price would be. Prices cited by their competitors must also be considered so at not to negatively affect the sales.   Price determination depends on the strategy that an organization opts to use or apply. An organization may decide to use premium pricing where by its prices are relatively higher compared to their competitors but their products must be of a better quality. For this strategy to succeed, effective research must have established that the target population needs quality products so badly that it would not shy away from purchasing quality goods at a higher price. (Geoff L and Frank W, 87). Penetration pricing can also be applied as a pricing strategy. Here, an organization lowers the prices of its new products or services on entry to the market but with an intention of increasing it overtime. The logic behind this approach is to first attract as many people as possible and after earning their loyalty it deems difficult for them to stop consuming this products. Good quality products are not likely to register reduced sales even if the initial prices were to be increased overtime. Some organizations can be compelled by the nature of the products they are dealing with to use the economy approach method of pricing. This approach ensures that the prices offered at the market are relatively low. The use of price skimming could also be applied where prices are high at the first entry into the markets but gradually these prices are reduced. This approach can best suffice among those goods that are affected by fashion or fads. Customers are willing to pay much money for them immediately they hit the market but as time goes on the willingness to pay declines.   Psychological pricing can also be applied with the aim of capturing customers who are responsive to emotions and not rationality. Price variations can also be applied as a price determination strategy. Prices offered can vary depending on the time of the day where for instance the prices in the morning or weekends can be lower than in the evening and during the weekdays. Offering discounts can be done selectively depending on time. (Geoff L and Frank W, 88).   Captive product pricing can also be applied especially where an organization in question deals with complementary goods. As the price of one product rises its complement price can be lowered to appear attractive. The reduced price will increase the demand for the product but consumers will be compelled to buy the other product regardless its price as they are used together. Geographical pricing can also be applied where proximity of distance influences or affects the price of goods and services. Transportation costs incurred can see to it that the prices of same products vary from one region to the other. Pricing can also be in response to the prevailing economic situation or market trends. Good pricing is also important in maintaining sustained growth as it makes customers come back. Promotion,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Promotion entails the use of various methods by an organization or firm to reach at its targeted audience providing it with the appropriate information geared at achieving its set objectives. The main aim or promotion is to educate or inform the target population of the products that it offers. Marketing promotions activities aim at enhancing an organizations position in the market in terms of the sales made. Organizations are also keen to promote loyalty to ensure sustained or long term positive relation ships with their customers. The making of promotional decision depends largely on the audience that an organization is targeting. The population could be specific or it could be mass oriented. Methods of promotion include advertising, sales promotion, public relations and personal selling.   Even the firms that are well known for a history of producing quality products, marketing is still an important aspect. Promotion acts as a pillar to the success of some high profile companies.   (Need Coffee). Companies like McDonald despite attracting many customers for their good quality products and its strategic position still finds it important to conduct promotions. It uses a ‘spokesman’, Robert, the cartoon like character who brings laughter to children who are the organizations target market. The use of cooperative marketing where organizations merge in their efforts to advertise their products can also place an organization at a strategic position in the market. (Need Coffee).   Advertising,   Advertising entails the use of mass media to convey important information regarding the products or services that an organization offers. Effective advertising offers two way communications where an organization is keen to respond and monitor the needs of their customers. Advertising can be through the use of t shirts, caps which act as walking bill boards this is mostly appropriate to the small businesses. The use of trade shows and trade fairs is appropriate as they ensure the accessibility of many customers or new contacts within a short period of time something that could not have been difficult to attain without them.   When advertising the marketers must be very keen to ensure that there is effective communication. Understanding the target population’s culture would be critical because culture affects the way people interpret symbols, words and sounds. It is also the role of marketers to identify their target population before they can decide the means of advertisement to use. Advertising can be carried out through the radio or television. Using celebrities in advertisement has a positive effect in as far as increased sales are concerned.   Sales,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Sales promotion involves the application of short term techniques as incentive for people to consume the products or services that an organization offers. This way the organization aims at increasing its sales and consequently its profit levels. Sales promotion could be the use of retail coupons that are valid for a specified period of time and customers must use them within the stipulated time span.    Marketing public relations   Ã‚  Public relations also known as publicity is a form of promotion that uses a third party to convey desired information regarding the products or services that an organization produces. Through the public relations an organization is able to communicate its positive features to the public.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Personal selling is another form of promotion where personal contacts are made to in promoting the sales of an organization products and services.   Packaging   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     According to Giles in What’s packaging design? the major reasons for packaging in marketing is to enhance appearance, protect product and facilitate distribution. (Calver G, 43). Packaging is also a vital aspect in ensuring the successful marketing of a product. Products that are packaged in attractive packaging will generally register increased sales. In determining the packaging to apply firms or organizations ought to ensure that the packaging protects the product in question. It ought to meet the environment standards set so that the organization or firm does not face conflicts with the authorities. Again it should be safe enough not to harm the customers. The cost aspects must be incorporated so that the organization does not incur losses. A good packaging must be convenient when distribution is being carried out. It should not be too bulky.   Marketing affects ones everyday life as it is very influential in determining a consumer’s decision making. On a daily basis one encounters or has to come across advertisements on the bill boards, televisions and the radio. The initial encounter precipitates the interest to acquire more information on the products or services in question and this leads to the search for more information on them which can be through the Internet. Attractive prices encourage impulse buying which is to the advantage of the businesses or firms. Effective marketing ensures that instant decisions are made that enhance the sales a firm makes. Works Cited: David Frederick Ross. Distribution: Planning and Control : Managing in the Era of Supply Chain. 2004. Springer Publishers. P 89 Geoff L and Frank W. The Official CIM course book: Marketing Environment, Marketing In Practice and Marketing Fundamentals. 2007. p 10-200 Giles Calver. What is Packaging Design? Essential design handbooks. Rotovision Publishers. 2003. p 43 Simon Anholt. Brand New Justice: How Branding Places and Products. Butterworth-Heinemann Publishers. 2005. P 56 Need Coffee. 2007. McDonald’s Strategic Marketing Mix. Retrieved on 20th June 2008 from http://www.associatedcontent.com/article/263943/mcdonalds_strategic_marketing_mix.html?page=3 Roy Young. 2008. Marketing Champions: Interview With Cisco’s Luanne Tierney. Retrieved on 20th June 2008 from http://www.marketingprofs.com/8/marketing-champion-luanne-tierney-cisco-interview-young.asp

Alex DeLarge in A Clockwork Orange Essay

A Clockwork Orange is set in futuristic Britain. The main character and narrator, Alex DeLarge, is the leader of a sadistic teen gang. Alex introduces his â€Å"droogs†, or friends, as Pete, Georgie, and Dim. After getting intoxicated at the Korova Milk Bar, they perform a series of â€Å"ultra-violent† crimes. This includes beating a homeless man, fighting a rival gang, and theft. They also play â€Å"Hogs of the Road†, a game in which they steal a car and drive recklessly with the intention of causing harm to pedestrians and/or other drivers. They decide to carry out a â€Å"surprise visit†, where they go to a stranger’s home and pretend to be in danger in order to gain entrance. They sing and laugh while harming their victims, a married couple. The man is beaten, bound, and forced to watch his wife being brutally raped. The gang then returns to the Korova for a nightcap. This is when we discover Alex’s love for classical music, and the dis content that the gang feels toward their arrogant leader. Alex returns home to his parent’s house. He has a drawer full of stolen goods. He listens to Beethoven before going to sleep. The joy he finds in classical music is strongly related to the elation he feels throughout acts of ultra-violence. The next day, Alex plays hooky from school. His parents appear to be very passive, lacking the courage to create boundaries. They believe that Alex is out late due to his â€Å"jobs†. Later that day, Alex has sex with two unfamiliar girls. Afterwards, he quarrels with his droogs about a scheme that Georgie constructed. As the gang walk along a marina, Alex clubs Georgie in the groin and kicks him into the water. Dim swings his chain at Alex, who ducks out of the way, resulting in Dim in the water as well. Alex deceivingly offers his hand to Dim; when he reaches for it, Alex cuts him with a knife. It appears that everything is restored while the gang further discuss Georgie’s plan. It involves another surprise visit to a cat la dy’s home. Rejected at the door, Alex enters through an upstairs window while his droogs wait outside. The cat lady has already called the police. Alex bashes  her with her colossal phallic sculpture and leaves. When he joins his droogs, Dim smashes a full bottle of milk on Alex’s face and he goes down. He is apprehended, told that his victim is dead, and sentenced to fourteen years in prison. Two years into his sentence, Alex becomes interested in the Bible. He fantasizes about whipping Jesus and enjoys the stories of torture. Alex is chosen by the Minister of the Interior to participate in a two week experimental reform technique, and is transferred to the Ludovico Medical Facility. Alex is injected with a substance that makes him feel sick while he is forced to watch a montage of vicious scenes involving brutality. Later films are accompanied by classical music, more specifically, Beethoven. As he comes to associate sickness with violence, the whole idea of violent behavior becomes so overwhelming that he would rather die than consider it. Alex returns home to discover that his parents have rented his room to a lodger. A victim from his past recognizes him and attacks him. Two police officers intervene. The officers are Alex’s old droogs, Dim and Georgie. They drive Alex to a country road and take him to a low water tub, where they hold his head under water and beat him. Left alone, Alex stumbles up the road to a house of a past victim, Mr. Alexander. He recognizes Alex from the newspapers, but not initially as the person that raped his late wife and put him in a wheelchair. Alex is drugged and slowly regains consciousness in a locked room upstairs. Mr. Alexander and his affiliates are downstairs, blasting Beethoven’s 9th Symphony. Alex leaps out of the window because of the distress it induces. He awakens in a hospital bed a few weeks later. Alex is welcomed by his parents, the government’s â€Å"cure† has been blamed for the repercussions, Mr. Alexander has been put away, a good paying job is lined up for Alex, and the Minister of the Interior expresses regret by givin g Alex a new stereo. The stereo is playing Beethoven’s 9th Symphony, but it does not agitate Alex. It appears as though Alex has regressed to his former disposition, before he was â€Å"cured†. According to the DSM-IV-TR (2000), Conduct Disorder consists of a â€Å"repetitive and persistent pattern of behavior in which the basic rights of others or major age appropriate societal norms or rules are violated†. The person must exhibit actions that include aggression to people and/or animals, destruction of property, deceitfulness or theft, or serious violation of rules. In addition, significant impairment in academic, social,  or occupational functioning due to this conduct must be present. Alex has a variety of destructive traits that are diagnostic characteristics of this disorder. There is not enough information given about Alex’s history to know the onset of these behaviors. Judging from the severity of his actions, I would have to guess that these types of behaviors starte d occurring at an early age. Alex’s aggression can be seen throughout this movie. He initiates the assault of the homeless man and the fight with the rival gang. He carries weapons for these occasions. Alex also engages in physical violence without a weapon. While approaching Mr. Alexander for instance, he kicks him in the face. The rape of Mrs. Alexander is a further portrayal of his aggression, as is his assault of the cat lady. In addition to his physical cruelness, Alex steals from his victims. The DSM-IV-TR (2000), says that â€Å"aggressive individuals with this disorder frequently misperceive the intentions of others as more hostile and threatening than is the case and respond with aggression that they then feel is reasonable and justified.† This is illustrated in the scene where Alex ambushes Georgie and Dim. This is his way of asserting his dominance within the gang after Georgie appears to be taking charge. There are few depictions of Alex damaging property that I can recall. I can imagin e that the stolen car was left in poor condition after Alex’s carelessness on the road. He flips a desk containing Mr. Alexander’s personal items and then knocks over a large bookcase. While violating Mrs. Alexander, Alex cuts her garment off with a pair of scissors. Alex displays an enduring trait of deceit in the course of this film. Alex is the type of person who seeks personal gain through misrepresentation. He is dishonest with his parents about having a job and feigns sickness so he does not have to attend school. He finds a way to penetrate several unfamiliar homes. Originally, he attempts to trick the resident by pretending to be in danger. This goal is achieved at the Alexander home. When this ploy fails, he finds a way to break-in. Another great illustration of Alex’s fraudulence is his interest in the Ludovico technique. The only reason Alex finds it enticing is because it gives him an opportunity to shorten his prison sentence. Under false pretenses, Alex is chosen for the treatment and he achieves his objective. Alex violates rules regularly. He is frequently absent from school, yet continues to stay out late at night. Alex’s Conduct disorder may have developed due to his parents providing a  lack of supervision and his association with a delinquent peer group (DSM-IV-TR, 2000). Initially, I thought Alex should be given a diagnosis of Antisocial Personality Disorder. A diagnosis of ASPD is not given to individuals under the age of eighteen and Alex is only fifteen in the beginning of the story. According to the DSM-IV-TR (2000), individuals diagnosed with Childhood-Onset Type Conduct Disorder and receive inconsistent discipline from their parents are at greater risk of their Conduct Disorder evolving into Antisocial Personality Disorder. Although Alex’s position in the end of the movie is left ambiguous, it is implied that he has returned to his former state. Since he is eighteen by the end of the story, had an early onset of Conduct Disorder, and fits the criteria, I believe it’s safe to say that A lex has developed Antisocial Personality Disorder. The Ludovico Technique is a fictional treatment that resembles Aversion therapy. The goal is to suppress a behavior by associating it with an aversive stimulus. This technique is controversial. Are these individuals â€Å"cured†, or are they incapable of acting on free will based on a new disposition that creates fear? The priest in the film expresses his concern with the individual’s lack of choice. I don’t believe this to be an effective treatment for Conduct Disorder. The root of the problem is not addressed, only symptoms are. A treatment that I would suggest for this disorder is Multisystemic therapy. â€Å"This therapy is used mainly to treat adolescents who are antisocial and delinquent. It combines strategies from cognitive behavioral therapy, parent management training, and various family therapies† (â€Å"Options for managing conduct disorder†, 2011). Treatment is subjective because MST acknowledges that manifestation of this kind of behavior varies. I think it’s important to look at every factor while treating a patient because everybody is different. Sometimes medications are prescribed, but not often. Perhaps a combination of different therapies and medication would be sufficient. I think MST is the still the best option. It appears to tackle the issue from all angles and is a personalized apparoah. â€Å"Studies have concluded that this therapy is effective at reducing delinquent behavior and drug use, and at preventing incarceration or hospitalization† (â€Å"Options for managing conduct disorder†, 2011). Although I believe this is a good treatment option for Conduct Disorder, I’m not sure if Alex would respond to it as well as some individuals. Family support is  vital and his parents are not very active in his life. Additionally, in order for a person to get better, they have to trully want to get better. I’m not certain that Alex feels that his â€Å"ultra-violence† is a problem. In my opinion, MST may be a more effective treatment for somebody younger, with a later onset of CD. I have not researched treatment options for Antisocial Personality Disorder because it is only my assumption that Alex has regressed in the end of the movie. Much more information would be needed in order to consider treatment options. References American Psychiatric Association. (2000). Diagnostic and statistical manual of mental disorders (4th ed., text rev.). Washington, DC: Author. Options for managing conduct disorder. (2011). Harvard Mental Health Letter, 27(9), 1-3.

Human papillomavirus (HPV) Essay Example | Topics and Well Written Essays - 1000 words

Human papillomavirus (HPV) - Essay Example HPV only affects women. This report addresses the issue of HPV, how it affects human beings and assesses the value of vaccines available for prevention of this virus. The report is addressed to the Minister of Health. The first step that the Ministry of Health should take in addressing the issue of Human papillomavirus is to understand the virus as well as how it affects human beings. As a Minister of Health, it is inevitable to have a clear understanding of this virus. Human papillomavirus is virus from the papillomavirus family. It is sexually transmitted and is the most common STI. The virus is available in over 40 HPV types. The virus infects the genitals of both female and male. It causes a number of cancers which include cervical cancer, penis cancer, vagina cancer, vulva cancer among others. In fact, this virus causes cervical cancer, which is the second most common cancer in the world. Therefore, it is imperative that your Ministry should look into this issue and give it the weight that it deserves. Many people do not know about the virus despite being common. The reason as to why many people do not know much about it is the fact that they may not notice it when infected. About half of al l men have been infected by the virus at a given time in their life while 3 out of 4 women have had the infection. The HPVs that cause cancer are referred to as the high risk HPV. The next fact that your Ministry needs to be aware of is the manner with which the virus affects and how it spreads. First, it is necessary to note that about 5% of all cancers in the world are caused by the high risk HPV. In addition, almost all cervical cancers are caused by this virus. The types HPV 16 and HPV 18 are responsible for cervical cancer in women. Genital contact is the main method through which the virus is passed on from one person to another. It is necessary to note that the virus be passed on even between partners of the same sex if

Accomplishments of Charlemagne Essay Example | Topics and Well Written Essays - 750 words

Accomplishments of Charlemagne - Essay Example Having served as an emperor during this medieval period has given me an opportunity to transform many lives and the nature of our lives. I believe that as I leave you soon, my political achievements will still remain and form major parts of the governments and other leaders to come. Precisely, my greatest political achievement is in 775, when I invaded, attacked and defeated the Germanic tribe Saxon who threatened the north-eastern frontiers of my newly formed Kingdom. During the same year, I also remember vividly that the Duke of Hrodgaud of Friuli rebelled against my rule but I defeated by him. These culminations gave me an opportunity with the Duke of Spoleto. We signed a treaty with him and this gave me the full power over Northern Italy which has ensured the peace that we enjoy today. To me, this is a very big accomplishment because as I go, I leave the many descendants of this great in a safe place to call home (Story, 2005).

What is moral relativism Essay Example | Topics and Well Written Essays - 250 words

What is moral relativism - Essay Example As such, the former form denotes that morality differs from one individual to the other while the latter means that morality varies culturally. â€Å"Morality is relative, a matter of conventions relative to a particular society† as stated by Peter Cave (2009), a British professor in philosophy. This means that even though morality is conventional to a particular society, it is relative since not all societies have the same beliefs and practices towards a certain type of conventional truth. Hence, it can be inferred that morality is relative in a general sense. Some individuals perceive morality as relative at all times whether in the individual or cultural level. This entirely depends either on the individual self or on the norms of the society. Every individual has its own freewill that is why what is moral depends solely on his or her belief. However, morality in a society is conceptualized as a whole and so every part of that society considers one moral concept as good or bad but this belief may not hold true to other societies. A moral judgment is not absolute or universal â€Å"but is relative to the traditions or convictions of a group of persons† (Gowans, 2008). Hence, I do believe that all morals are