A coming-of-age story

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In literature, there are many themes that we find over and over in many cultures and from many periods in time. One of these reoccurring themes is the "coming-of-age", when a young person goes through the transition from childhood to adulthood and has a significant life experience. It is clear that these coming of age stories are crucial component of our self-conceptions and representations.

We all know lots of coming-of-age stories. Weve read them in books, seen them at the movies and on TV, and in plays and operas. Usually, these stories are of the heartwarming variety. A young person confronts the frightening prospect of growing older, leaving youth for adulthood, and dealing with a world far more complicated than he or she had thought it was. Sure theres pain to be encountered along the way, but in most of these stories the person eventually sees maturity as a reward - and painful growth as a passage into a new world filled with prospects and promise.

But what if the new, grown up world seems bleaker than the old one? I think, when entering adulthood, instead of grieving over the loss of youth, we should revel in newfound possibilities. The coming-of-age story then is not a tragedy, but a heartwarming tale of growth and fulfillment.

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One reason for the popularity of this theme is simply that it is a universal experience. Everyone, no matter when or where they were born, has to grow up at some point, and being able to read about someone elses experience can provide young readers with something that they can relate to, and it provides older readers with memories of the past.

The teen years are, of course, when the coming-of-age process is most obvious, when young people are perched precariously on the brink between childhood and adult responsibilities. It is then that most young adults are making decisions, which will have tremendous influence on the shape of their lives to come. This reminds me of the story called "Dawn" where the main character, Barnsey, experienced his coming-of-age.

As he boarded a bus to travel to his grandmother's, 1 year-old Barnsey's worst fears were realized. He had to sit next to someone "weird", an adventurous girl with nose rings and a Mohawk. She was about twenty and dressed all in black. Barnsey's first reaction to Dawn was negative. He had a prejudice against her because of her outward appearance. Later, he had to realize that he "shouldn't judge a book by its cover".

They were listening music, but Dawn liked gentle, contemplative music, while Barsney enjoyed hard rock. But both were willing to listen to the other's tape and allowed themselves to enjoy the new experience. Despite their different taste in music, she and Barnsey became "mates".

Barnsey was attracted to Dawn's personality. She had a British accent and used lots of slang, and she was traveling all around the world. Her whole character symbolized independence and freedom. In addition, her spontaneity was the opposite of Barnsey's parents' careful planning.

Dawn called Barnsey "mate", which means that she considered him a friend somehow. By the end of the trip, Barnsey understood that friendship is one of the most precious things in life. He learned from Dawn that looking through the eyes of a friend could open up a whole new world.

At Christmas, Barnsey had to face up to the fact that his parents would divorce. First, it was quite unconceivable to him, then later everything was suddenly clear to him. He could hear in his head all the signs and hints stretching back through the months how far, he wasn't sure. Anger piled up in his heart, because nobody had told him anything.

In his despair, he left the house. He wanted to go to Vancouver and find Dawn because he was tired of the "rubbish" surrounding his parents' divorce. He also wanted to find her because she was the embodiment of freedom, spontaneity, and self-assurance. At the bus terminal, he found an unfamiliar tape with a piece of note in his backpack. It was from Dawn. The memory of Dawn and her gift of tape helped Barnsey cope with his parents' divorce. She gave him hope for a new beginning.

Although Barnsey spent only a brief time with Dawn, she became a powerful influence in his life. The writer reinforced this influence by using the symbolism of her name. The word "Dawn" can be associated with sun rising, new beginnings, and renewal. Her friendliness and spontaneity evoke fresh beginnings.

Generally, all of living is a process of coming-of-age, of reconciling the essence of the inner self with one's outer being. Without any doubt, Barnsey is also a coming-of-age story. He acquiesced in the unchangeable fact that his life wouldn't be the same anymore. He moved from adolescence to adulthood with the capability of managing his parents' divorce.

My coming-of-age story is different than Barnsey's. Fortunately, I didn't have to deal with a broken up family, but I also have to learn quite early to be on my own. My parents sent me to an excellent high school, which meant that I had to live in a dorm. I was only 14 years old. I remember, how timid and deeply touched I was standing in front of the building. I didn't exactly know what would happen to me, and my life in "my new home". I had plenty of freedom, but I also had to learn how to use it. During these years I became an adult, who could solve most of her problems on her own. My life then had many pitfalls, but finally I became independent.

In our own lives, we are constantly trying to find our place in the world and discover what our purpose here is. We have our dreams and our desires, and we want to fit those into the world. But how does our view of ourselves, and our place in the world change as we grow and gain life experience? Coming-of-age stories give us the opportunity to discover those answers through the experiences of the characters. Barnsey, the young character of "Dawn" is one example, who matured to understand something about the world he lives in, and his role in it.

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A Worn Path

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In "A Worn Path", Eudora Welty portrays a woman on a journey using words and phrases which contain a psychological connection to the story line. The plot alone is that which is not too intense and complex, however the way Welty uses metaphors, irony, stereotyping and implication of words to fit the story is outstanding. Using these ways of spicing up the content, Welty's writing attracts the reader's interest throughout; even at moments which would normally not. Welty's style of writing "A Worn Path" is that which makes the reader really think about her choice of words, for they are twisted with to portray a mental picture.

Welty sets the tone and feeling of the story using words which create a certain feeling of the situation or setting. The words black and dark are used very often throughout Welty's writing, letting the reader know that the story is a dark one and full of mystery; never knowing what's around the corner. Phoenix Jackson, the main character, is a black woman, described as being dark in tone and wearing a dark, striped dress. The woods Phoenix walks through are dark with dark shadows overcastting. After Phoenix crawled through the barbed-wire fence, she noticed big dead trees, like black men, which were "standing in the purple stalks of the withered cotton field"(). Welty could have been portraying the sense of black men in slavery times, which were not so long before this story was written. Soon afterwards, Jackson goes through a corn field, noticing something "tall, black, and skinny, moving before her"(). Phoenix instinctively thought it was a man, scaring her. Welty then describes the "person's" movement "as silent as a ghost,"() therefore keeping the dark, eerie tone in this setting. The dog that Phoenix meets up with shortly after is also a black dog, however the owner is a young white man. After leaving the hunter, she continued on her way. "She walked on. The shadows hung like oak trees to the road like curtains"(4) The smell of smoke permeates through the air, now giving a sense of smell to the overall feeling of the situation she's at then. Even when she finally got to town, "Dozens of little black children whirled around her"(4).

Not only does Welty use word choice to set tone and feeling in her story, but she also describes Phoenix Jackson's way of thinking, not necessarily in description, but in word choice as well. The overall view of Jackson's mind and acts are that she's not completely "with it" in her mental state. At points she'll be scared at little things, but when something serious comes around, she is completely calm. Phoenix is very shifty. For example, when Phoenix walked up to the scarecrow, she was very frightened and alarmed. Welty does not just go right out and say this, but it is implied within her word choice. After finding out that it was only a scarecrow, not a man, her face lighted; as to imply that before knowing, she was frightened. After this, she continues talking to the lifeless scarecrow as if it were as real man. She even says, "My senses is gone. I too old"(). Later, Jackson comes up to a well, which she drank of. "Nobody knows

who made this well, for it was here when I was born"(). This shows that Jackson only thinks according to her being. How does she know that nobody knows who made the well? She didn't, therefore to her, nobody knows. Then, before confronting the black dog, Welty says she was meditating. Obviously, Jackson needs some peace of mind after all the stress she has gone through so far in her journey. After the black dog came up to her, Jackson went into a ditch. "Down there, her senses drifted away"(). This phrase goes to show that Phoenix Jackson's mental state is unwary. She then was visited by a dream, and reached her hand up. Her sense of reality to dream state is not too keen, confusing the two with where and what she was doing. Later, the dog's owner, the hunter, has a gun pointed directly at Phoenix. She was not frightened in the least bit. "'Doesn't the gun scare you?' he said, still pointing [the gun]. 'No, sir…'"(). Jackson was scared of the scarecrow before, but not scared of a gun pointed at her at point blank range. Phoenix Jackson's feelings and thoughts are different at every situation throughout the story. Her reactions are impossible to guess. Towards the end of the story, Jackson is in the doctor's office to pick up the medicine for her grandson. The nurse was attempting to speak to Phoenix, however Phoenix was not responding. For a moment, Phoenix was just not there (in reality). The story does not describe what in particular she was thinking of, but it definitely was not anything of the situation she was in at the time. Finally, she came to and realized she had forgotten completely why she had even made the trip to begin with. Then, with no further questions asked of her journey and situation, she begins replying to the questions asked her while she was "daydreaming".

The ending of "A Worn Path" alone speaks novels of the psychological aspect of Eudora Welty's story. Phoenix Jackson picks up her medicine from the doctor's office, and goes on her way on the same journey back home. The end. What happens afterward, the reader is not told. The journey back is the same as the one to town. Welty notes that the journey is a familiar one; she does it often. If it was so familiar, however, would she not be scared of certain things such as the scarecrow or have such troubles? Aspects such as this cause the reader to think about what really is going on in Phoenix Jackson's mind and journey. What happens from this point on is for the reader to decide. There is no set events thereafter.

"A Worn Path" is a prime example of a story with many psychological points of view. Much of the story is what the reader makes of it, being led by word choice and events by Eudora Welty. This "darkness of truth" keeps the reader interested, guessing and looking forward to the next incident which will shift the reader's point of view of the journey.

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Locke and utilitarianism

If you order your cheap term paper from our custom writing service you will receive a perfectly written assignment on Locke and utilitarianism. What we need from you is to provide us with your detailed paper instructions for our experienced writers to follow all of your specific writing requirements. Specify your order details, state the exact number of pages required and our custom writing professionals will deliver the best quality Locke and utilitarianism paper right on time. Our staff of freelance writers includes over 120 experts proficient in Locke and utilitarianism, therefore you can rest assured that your assignment will be handled by only top rated specialists. Order your Locke and utilitarianism paper at affordable prices with cheap essay writing service! Utilitarianism is the ethical doctrine which essentially states that that which is good is that which brings about the most happiness to the most people. It is commonly understood as being the hypothesis that assesses and promotes moral actions on the basis of their outcome using the maxim, 'the greatest happiness for the greatest number." (Sterba, 1) In simpler terms when faced with a moral choice, the right thing to do- according to Utilitarianism - is that which results in the 'greatest happiness for the greatest number of people.' Originally developed as an ethical principle under Jeremy Bentham its original form met many challenges by its opponents. Attacked in every direction for anything from its lack of Christian principles to the selfishness that the pursuit of pleasure seems to promote it soon became clear that Bentham's form of Utilitarianism needed some serious touchups and ultimately it was John Stuart Mill who was up to the task. Nearly a generation after Bentham's theory was established , John Stuart Mill decided to defend the principle of Utility against its critics by refining its ideas and making them more practical to society. In particular, John Stuart Mill's powerful essay Utilitarianism endeavors to raise the Utilitarian ideal to a higher plane than that of the undisguised selfishness upon which Bentham rested it by, defending with fervor the utilitarian creed of the Greatest Happiness Principle holding that "actions are right as they tend to promote happiness and wrong as they tend to produce the reverse of happiness." (Sterba, 1)

One criticism, often posed against the hedonistic value theory held by Bentham, holds that the value of life is more than a balance of pleasure over pain and that it is base and demeaning to reduce the meaning of life to pleasure. Mill's Utilitarianism clears this up by establishing that because we are endowed with the ability for conscious thought human pleasures are much superior to animalistic ones they are not merely satisfied with physical pleasures, humans strive to achieve pleasures of the mind as well. Once people are made aware of their higher faculties they will never be happy to leave them uncultivated; thus happiness is a sign that we are exercising our higher faculties.

Mill prescribes how to differentiate between higher and lower quality pleasures by saying that a pleasure is of higher quality if people would choose it over a different pleasure even if it is accompanied by discomfort, and if they would not trade it for a greater amount of pleasure. (Sterba, 1) Moreover, Mill contends that once man has ascended to this high intellectual level, he desires to stay there, never descending to the lower level of existence from which he began

"It is better to be a human being dissatisfied than a pig satisfied; better to be Socrates dissatisfied than a fool satisfied." (Sterba, 1).

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Even though a person who uses higher faculties often suffers more in life (hence the common aphorism "ignorance is bliss"), he would never choose a lower existence, preferring instead to maintain his dignity. When making a moral judgment on an action, Utilitarianism thus takes into account not just the quantity, but also the quality of the pleasures resulting from it.

Another criticism that Mill cleverly responds to is the objection that happiness could not be the rational aim of human life both because it is both unattainable and possible to live without. Mill replies that it is an exaggeration to state that people cannot be happy. Although Mill acknowledges that while this may be true in theory - that men do not conduct their lives in total pursuit of happiness - they still need a gauge with which to measure morality. Happiness may not necessarily mean continuous rapture, for such intense experiences are momentary at best. Nevertheless, happiness to some may merely translate to being the avoidance of pain. In Utilitarianism, Mill noted, "Utility includes not solely the pursuit of happiness, but the prevention or mitigation of unhappiness" (Mill 11).

The pursuit of pleasure has also been condemned by critics as being little more than the promotion of one's own interests, with no regard to the happiness of others. Mill disputes this as being narrow-minded, clarifying that the pleasure principle which forms the foundation for Utilitarianism, "what is right in conduct, is not the agent's own happiness, but that of all concerned." (Sterba, 18).

With this acknowledgement however, comes the criticism that people cannot possibly be motivated by something as satisfying the collective good of society. Mill responds to this by claiming that Utilitarianism has or can impose all the sanctions that other moral systems can. Mill notes that there exist both external and internal sanctions external sanctions existing externally to the human agent as an individual; i.e. peer pressure, the fear of disapproval, and the punishment of getting caught, internal sanctions stemming from one's consceince the feelings in one's own mind that create discomfort when one violates duty. Ultimately internal sanctions are more powerful that any external sanction. Because we all have social feelings on behalf of others, the unselfish wish for the good of all is often enough to move us to act morally. Even if others do not blame or punish me for doing wrong, I am likely to blame myself, and that bad feeling, according to Mill, is one of the consequent pains that I reasonably consider when deciding what to do.

John Stuart Mill therefore, not only argued in favor of the basic principles of Jeremy Bentham but also offered several significant improvements to the structure, meaning, and application of Utilitarianism as it originally was known. Utlimately Mill's version of Utilitarianism states that "pleasure, and freedom from pain, are the only things desirable as ends" justifying such claims and refuting objections to the theory through the axiom of reason.

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A Midsummer Night's Deam

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William Shakespeare is one of the greatest writers in literature. He dies in the seventeenth century after completing many sonnets and plays. One of which is A Midsummer Night's Dream. This work is certainly Shakespeare's most lyrical and romantic comedy, full of reflections on fantasy, dreaming, and desire, set mostly amid festive palaces and moonlit woods filled with fairies"(Shakespeare 168). The themes of the play are reality and dreams, love and magic. This play is a comedy about five couples that suffer through love's strange games and the fairy behind the devious tricks within the play. A Midsummer Night's Dream is a comedy combining elements of love, fairies, magic, super nature, and dreams.

The ending of this play is that a triple wedding is planned and everyone is happy. Throughout there are many mentions to the gender and sex roles. The dominating male power and strange sex roles of the characters are fluent throughout the play. The order of the fairy, human and natural worlds is a movement toward satisfying mens psychological needs; but it also disrupts womens bonds with each other. The argument between Titania and Oberon arises from Titanias focus of attention to a stolen Indian boy. Oberon needs her too, so he wins the boy for him to make her feel inferior. In other words, Titania gave up something that she loved to make her husband happy. This is seen in everyday life; women give up their wants to make their men happy. When men do not make women happy, they turn to their friends for what they need, whatever it may be. Male domination not only exists between husband and wife, but also between father and daughter. Theseus will not allow Hermia to marry Lysander. Hermia is blamed by Egeus for being in love with the man she chooses. This implies that men cause women to feel forced and obligated to do as they say. Hermia and Helena were once intimate friends, but Helena is suspicious of Hermias involvement in the mens Joke by saying I pray you, though you mock me, gentlemen/ let her not hurt me. I was never curst/I have no gift at all in shrewishness/ I am a right maid for my cowardice/ let her not strike me. You perhaps may think,/ Because she is something lower than myself, that I can match her (III.II.-04). Bonds between women are just as important as mens bonds with each other, but jealousy leads to the end of womens happiness. When Demetrius and Lysander fall in love with Helena, she feels like she is a joke in this world. This brings female insecurity and pain, again cause by previous abuse from men. The tender nature of women enables Hermia and Helena to bear their lovers abuse. The compromise between Titania and Oberon brings blessing to the human world. This implies that the happiness of the world depends on the amount of love between couples. The problems caused suggest the heterosexual bonding is the best. Just like women have insecurities, men feel that if women joined together there will be no need for men, possibly excluding them or preferring the friendship and love between women to a relationship.

By nature of fairies humanity, Oberons power causes weakness in the human world. This fairy kingdom is basically a dream, which appears whenever reason goes to sleep. Illusions and dreams can be dangerous if they block out humans consciousness. A Midsummer Nights Dream is a play concerned with dreaming. Shakespeare reverses the types of reality and illusion, and sleeping and waking, abstract and nature, to touch around the central theme of dreams. Dreams are truer than reality, because it has a transforming power. Dreams are a part of the fertile and unbounded world of imagination. The Athenian lovers flee to the wood, falling asleep and enter a magical dream. After their eyes were put love potions, the supernatural world at once takes over the whole world, controlling their lives in a way they cannot follow their willing. Without knowing the dimension of dream in our lives, there can be no real self-knowledge.

The imagery establishes the dream world in A Midsummer Nights Dream. The night creates a mysterious moon. At night, the fairy realm takes control. These fairies are brainless, which leads to controversy between the humankinds. The two worlds united by moonlight are active during their times. In the play, the fairy world is dominant, because there is only one scene containing daylight. The sound announces the return while the sun rises. The forest, flowers, water, and the rest of nature seem to be away from the human world. This is a necessary setting for the dream world. The main theme in the play is dreams. As mentioned before, dreams are truer than reality because they are the unbounded world of imagination. The fairies control the dreams; therefore they control your mind. Also a mad and lovely theme weaves together unrelated parts of the play. Shakespeare creates unity by fulfilling the play with moonlight. Irony is a large element in the play. Many of the situations are ironic. Theseus won Hippolyta with his sword. Helena's affection for Demetrius seems to make him hate her, but the hatred eventually turns to love. Helena constantly pursues Demetrius, like tigers hunt food unstopping in the forest. The fairy world has greater impact than the real world. This is ironic because the fairies have no intelligence or emotions like human beings.

A Midsummer Night's Dream is the most romantic of Shakespeare's comedies. The fantasy world and erotic nature of the play draws relation into this play. This relation leads to the making of couples different movies and theater performances. The viewing of the play adds to its dramatic nature, allowing first hand contrast between how we felt and how someone else felt about. A Midsummer Night's Dream compares to "Romeo and Juliet." The similarity in characters and the plot is that Romeo and Juliet was written before A Midsummer Night's Dream. This play is a natural reaction of Shakespeare's mind to Romeo because of his attitude toward love and life. The forbidden love and pain are all elements in the comparison. Shakespeare successfully combines mystery, love, and comedy into one play. This play is the most beautiful and romantic plays written by Shakespeare.

Please note that this sample paper on A Midsummer Night's Deam is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. In case you experience difficulties with writing a well structured and accurately composed paper on A Midsummer Night's Deam, we are here to assist you. Your cheap custom college paper on A Midsummer Night's Deam will be written from scratch, so you do not have to worry about its originality.

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New England vs. Chesapeake Societies

If you order your custom term paper from our custom writing service you will receive a perfectly written assignment on New England vs. Chesapeake Societies. What we need from you is to provide us with your detailed paper instructions for our experienced writers to follow all of your specific writing requirements. Specify your order details, state the exact number of pages required and our custom writing professionals will deliver the best quality New England vs. Chesapeake Societies paper right on time. Our staff of freelance writers includes over 120 experts proficient in New England vs. Chesapeake Societies, therefore you can rest assured that your assignment will be handled by only top rated specialists. Order your New England vs. Chesapeake Societies paper at affordable prices with cheap essay writing service! Although New England and the Chesapeake regions were both settled largely by people of English origin, by the 1770's, these areas had developed into distinctly different societies. This was due mainly to the economic, religious, and political/social factors that helped to shape both of these societies and the New World.

All societies in the New World had to contend with economic struggles and hardships in order to survive and flourish. This was certainly true of the Chesapeake region, which was based primarily on personal economic gain. Even early settlers had to contend with greedy, money-making schemes that kept many in poverty (Document F). Most of the English immigrants who traveled to the Chesapeake region were young men who had high ambition of succeeding in the New World (Document C). This ambition led to the success of the tobacco crop. A vast amount of farm area and slave labor contributed greatly to the success of tobacco and therefore caused plantations and farms to be much more spread out than in the New England colony, causing much less community involvement and a more independent view of life in the New World. Unlike the Chesapeake region, New England did not originate as a society built upon monetary gain, but rather as a society intended to flourish economically by devoting their practices primarily to bettering the community and to provide for the common man. New England proposed strict laws upon their merchants because the Puritan beliefs clashed with merchant ones (Document E). Also, because New England was a tightly knit community, they were unable to produce as many goods as the Chesapeake region, therefore causing economic growth to be less.

Religion and religious conflicts helped to shape many societies throughout history. This is very true of the New England society. John Winthrop's vision of "a city upon a hill" was the collective vision of the majority of individuals in the New England colonies (Document A). Having escaped from religious persecution in England, New England gave Puritans the opportunity to develop a society from scratch based on the idealistic morals and beliefs that they had for so long tried to instill in England. The community played a major role in Puritan lives because they were expected to not only provide for their own survival, but for the community's survival as well. These beliefs brought this society a sense of togetherness that the Chesapeake society did not posses. Most emigrants traveled to the New England area with families and because families became very tightly knit; this created great stability and firmness within the society (Document B). The Chesapeake society, because it was based mainly on individual success did not establish a religious society in the least. The main goal of the Chesapeake society was economic and religious practices. There was also a shortage of clergymen, which did not enable the Chesapeake society to gain half as much religious insight, as the New England society, which led both colonies to a completely different outlook on life and way of life (Document D).

Political and social events always help in shaping a developing society, which is certainly true of political events in both the Chesapeake and New England societies. Because New England had a firm, religious bases, political events and uprisings were usually caused by religious tensions, although economic development did cause some conflict. New states were constantly being formed in order to accommodate new beliefs and ideas that were not tolerable to the Puritans. In fact, most of the states surrounding the Massachusetts area were formed because certain members of the Puritan community (Roger Williams, Thomas Hooker, ect.) were displeased with how the government and the law making bodies in Massachusetts were dealing with the issues presented to them. Strict laws were imposed upon the communities in New England in order to establish firm societies. The Old Deluder Act is a perfect example of how easily political bodies passed bills and laws in New England so they could better their religious community. Throughout the history of the Chesapeake society, we were able to locate events and uprisings caused mainly by economic and social conflicts. Due to the fact that there was an uneven distribution of wealth in this society, many people living I poorer conditions felt great resentment toward those living in luxury. Social tensions between settlers and Indians greatly added to the conflicts of the Chesapeake society faced. Because Virginia was such a vast amount of area to govern, the officials had no means of defending all of its borders against raids and attacks (Document G). Poor settlers in the area felt that they were not being adequately defended. This belief led to riots such as Bacon's Rebellion against Governor Berkley in 1676 (Document H). Discontent between social classes was a major issue in the Chesapeake society since about 75% of Virginia consisted of indentured servants, as were the economic situations of most settlers in the area, merely trying to sustain a livelihood and succeed in the New World.

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Even though settlers that established both the New England and Chesapeake societies originated from the same country, they developed many different beliefs and customs that formed both into two very different societies. Economics helped to shape the New England society and was the basis upon which the Chesapeake thrived. Religion was a vital part of the New England society and brought about very little impact upon the Chesapeake. Political and social tensions often determined the course of events that both societies faced. These societies are prime examples of how different priorities and goals in people will lead to the development of very different societies, regardless of the fact that those individuals may have originated from the same country.

Please note that this sample paper on New England vs. Chesapeake Societies is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. In case you experience difficulties with writing a well structured and accurately composed paper on New England vs. Chesapeake Societies, we are here to assist you. Your cheap custom college paper on New England vs. Chesapeake Societies will be written from scratch, so you do not have to worry about its originality.

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Fultex

If you order your cheap essays from our custom writing service you will receive a perfectly written assignment on Fultex. What we need from you is to provide us with your detailed paper instructions for our experienced writers to follow all of your specific writing requirements. Specify your order details, state the exact number of pages required and our custom writing professionals will deliver the best quality Fultex paper right on time. Our staff of freelance writers includes over 120 experts proficient in Fultex, therefore you can rest assured that your assignment will be handled by only top rated specialists. Order your Fultex paper at affordable prices with cheap essay writing service! Qualitative Analysis

Fultex is a medium-sized producer of athletic uniforms, sportswear, sleepwear and a variety of fabrics. The company emphasizes the cost management therefore it can provide high quality products with low cost. Fultex's business expands from team uniform to retail business, and now Fultex is considering entering into department stores business and design additional clothing lines to enlarge its market.

The Board of directors has already voted to approve the acquisition of $81 million external funds and top management considers this project absolutely essential for Fultex to succeed in increasing the market share, though it is not expected to improve the firm's profitability in the near future.

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Cheap University Papers on Fultex

R.Craig Harrof, a board member, sent a memo to Elizabeth Bethea, the chief financial officer of Fultex, explained that Fultex is highly over leveraged based on the comparison of the firm's current, quick, debt, D/E, TIE, FCC ratios to the industry average. The company should not borrow to fund the $81 million expansion.

Elizabeth Bethea discussed the memo with William Gibbs, a vice president, that she is far from convinced the firm is over-leveraged and she believed that the firm has capacity to incur debt because of reasons.

1. We are more profitable than typical firm

. Our risk is low because we are well diversified

. We have customer loyalty

Anthony Barro, a major stockholder with 6% of the firm stock, prefers that Fultex issues debt to raise the fund needed because he feels that Fed will do everything to avoid recession and inflation will finally increase. On the other hand, most economists feel that Fed is very much concerned with containing inflation and economic downturn is quite likely. However, Bethea realizes that economic forecasting is an inexact science and majority opinions can easily be wrong.

The financial options

Stock Option. New common stock at $ per share included $ per share floatation cost.

Bond Option. 15-year debentures bearing 10% interest rate callable after eight years at a price of $1100. The indenture will not allow Fultex to issue any higher priority new debt, paying dividend in excess of 70% of income and it also carry a sinking fund provision.

Combination Option. The 50-50 mix of stock and bond option

Moreover, the firm might have to alter the method of production to stay alert for the possibilities of innovation and efficiency. The best guesstimate is that $10 to $0 million fund is needed and Fultex has roughly $5 million of liquidity at present.

Impact on Shareholder control

If the company raises ,700,000 common stock and formal shareholders do not buy more stock to maintain their position, the new stock option will definitely diminish shareholder's control.

If Fultex issues $81million bond, shareholders control will still be the same because there is no impact on number of equity.

Quantitative Analysis

Cost of financing

Issuing common stock. In order to finance $81 million additional fund needed, we need to issue ,700,000 shares at the price of $ per share, with $ per share being the flotation cost, which is the one time cost of financing and equals to 6.67% of the fund received.

Issuing 15-year debentures bearing an interest rate of 10%. This interest is higher than the cost from issuing common stock, we have to pay it on an annual basis and we have to start retiring the principal at the end of year 5.

Borrowing from the investment bank. In this case we don't know that rate of interest charged but normally it should be higher than the interest on bond and we have to repay it at the maturity date.

Ratio analysis

Fultex is a very healthy business. It has current ratio of .6 and quick ratio of 1.. Even though these numbers are less than industry average, it shows that the company's liquidity is good. Harrof also mentioned that Fultex is over leveraged when compared to the industry, but in fact its debt ratio of 50% is considered reasonable.

Impact on company leverage ratios in 16

For bond option, debt ratio will increase from50% to 56% and TIE will be reduced from 5. to .7. These ratios are above average yet acceptable. In stock option, debt ratio will fall to 6% and TIE will increase to 6.7. These are comparable to industry average. Combination option will reduce debt ratio to 46%, TIE of 4.76

Problem Statement

Fultex is in a very competitive industry. Its main strategy is the reputation in quality and styling. Since the company strategy is to expand into a wider range of the consumer market, Fultex needs to get an external fund of $81 million to develop a new R+D plant that will increase its market share. Fultex's board of directors has approved this additional fund needed already. However, there is a conflict between a board member, the CFO, and a major stockholder. The board member does not want Fultex to incur more debt, while the major shareholder does not want to lose his control, and the CFO believes that Fultex has capability to borrow.

The problem in this situation is 'How should Fultex finance its 81 million expansion and be in the best interest of all?'

Alternative

1. Issue ,700,000 common stock at $ per share.

. Issue $81 million 10% 15-year callable bond.

. Issue ,700,000 preferred stock at $ per share

4. Combination of a 50/50 mix of stock and bond.

5. Borrow $81 million from investment bank.

6. Ask Barro to commit $5 million and issue $56 million10% 15-year callable bond.

7. Borrow $15 million from investment bank to stay alert for possible innovation.

8. Educate Barro about the economic situation

. Educate Harrof about using the industry average.

10. Defer the expansion until we know the economic situation.

11. Lease the manufacturing facilities

1. Remain status quo

Recommendation

Fultex should issue ,700,000 common stocks at $ per share to finance $81 million expansion project because of the following reasons

1. This project is critical for Fultex success in increasing market share. Moreover, this project will support the strategy of providing good product quality and styles with relatively low cost.

. Cash outflow is the minimum.

. Due to economic forecast, recession is likely to occur and interest rate is expected to fall, therefore it is not good to borrow now.

4. Barro's interest of the firm will remain at 0% as he wishes. To maintain 0% control over the firm, he'll need to hold 4.14 million shares (additional 14,000 shares). Therefore, he only needs to put another $4.6million.

5. The company can access to equity market because it has been quite successful in its business area.

6. Current financial position is quite attractive to the investors

7. The debt ratio will reduce to 6% which is approximately the industry average and it will satisfy Harrof. Nevertheless, we must educate Harrof that we shouldn't rely on the industry average because every firm is unique.

8. Stock option incurs low risk.

. Stock option increases the financial flexibility of the firm, if they need more investment in the future.

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Cross Functional Teams

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Part A Types of Teams

Cross Functional Teams

Describe the team and what makes it unique?

Cross-functional teams are "a group of people with a clear purpose representing a variety of functions or disciplines in the organization whose combined efforts are necessary for achieving the team's purpose. The team may be permanent or ad hoc and may include vendors and customers as appropriate" . There are two main characteristics that make cross-functional teams the unique. The first is that, team members are all from different departments of the company. Having group members come from different backgrounds allows the team to have a miscellany of experience and distinct levels of knowledge. Another thing that makes cross-functional teams unique is that they are able to work separate from the company management, and are often allowed to make their own decisions and implement their own ideas .

When is it appropriate to use the team?

It is appropriate to use a cross functional team when a company needs to solve a problem that impacts multiple levels of its business operations. The team can be used when a company is trying to either improve or coordinate work processes or activities, which cross organizational and departmental lines. The team is also used when a company has a problem to solve that requires a wide variety of knowledge and skills. The varied knowledge of these members allows for greater depth in these areas as well . Cross-functional teams "seem to be most effective in companies with fast-changing markets, such as the computer, telecommunications, and similar industries that value adaptability, speed, and an intense focus on responding to customer needs" .

What are the Advantages of this form of team?

With cross-functional teams you are able to reduce the time that a product spends in the developmental phase. This is important for companies with fat changing markets, such as computer, telecommunications, etc, which require fast changes to complete with similar companies. Cross-functional teams provide the framework for bringing team members from different fields of work with different knowledge and experience together. Cross-functional teams help you with customer satisfaction. Customer satisfaction is based on knowing your customers/ their needs and how your product or service can met those same needs. This team provides more innovation because you are bringing together people from different areas with different ideas. One final advantage's that a cross-functional team provides allow experts to share their knowledge with others. This exposure to different experts gives the individual an opportunity to get a different perspective on the product or service the company provides.

What are Disadvantages of this form of team?

There are disadvantages to using cross-functional teams; one being, there tends to be confusion as to what authority a team has in decision-making and idea implementation. Two, there is difficulty in creating clear vision or direction for the project. A main problem is that management is not always kept up to speed and this results in information not being passed along the chain of command. Thus, when using a cross-functional team there is also the problem of providing proper evaluations by supervisors. This is because they are not able to see what their subordinates are doing within the team or how they are working with their fellow employees, which in turn effects rewards and recognition. This is due to fact that most companies have their rewards programs based on single individuals and not on team accomplishment. Finally, the biggest disadvantage is that the team may from its team members bring their potential negatives attitudes towards other departments into the group. This can lead to inter-group conflict and decreased productivity .

Is Leadership Important?

Leadership is very important when using a cross-functional team. The team leader must select employees that have the proper knowledge, skills, and experience giving the nature of the project. To complete the assigned task, he or she must also make sure that the team has clearly defined goals. A responsibility of the leader is to make proper training is available to all the team members . Furthermore, the leader must ensure that all team members are working cohesively and not trying to further any personal goals or agendas, as employees are coming from different department and may have different methods of completing tasks. Without clear guidance of a lead or the team will not be able to accomplish their objective.

What companies have successfully used this type of team?

As earlier stated, companies with fast-changing markets, such as computer and telecommunication industries, have the most success in using this type of team.. In 188, Motorola used cross-functional teams to take over experiments for process optimization. This resulted in having the project completed in less time and overall yields improved by 5%. Motorola also used cross-functional teams to install new equipment and the layout of a manufacturing area in record time . In 10, Cincinnati Milacron used cross-functional teams to develop a plastic injection molding machine in record time, at reduced cost and with increased functionality .

What are critical success factors when using this type of team?

One of the most important things that a cross-functional team needs to succeed is a good leader. A good cross-functional team leader must have knowledge about each field or department from which team members have been selected . This range of knowledge is vital and allows the team leader to properly assign task to team members. This enables the team to take full advantage of the diverse skills and knowledge that each team member brings to the table.

Studies have shown that many groups develop through five stages. The first of these stages is called "forming". This stage is characterized by uncertainty. "Storming", the next stage is one of intragroup conflict. The third stage "norming" is where close relationships and cohesiveness are developed. The fourth stage is "performing". This is where the group is fully functional and work is accomplished. The final stage "adjourning" only occurs in temporary groups. The major concern in this stage is wrap up activities as opposed to task performance .

Please note that this sample paper on Cross Functional Teams is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. In case you experience difficulties with writing a well structured and accurately composed paper on Cross Functional Teams, we are here to assist you. Your cheap custom college paper on Cross Functional Teams will be written from scratch, so you do not have to worry about its originality.

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