The Sociological Definition Of Family

The Sociological Definition Of Family At the outset itself, this quotation describes the position of women in practically most society. Women are there to make children, are mothers and wives, act as the house-maid, take care of their husbands and families, bear male authority, being deprived of high status jobs and position of power. So, there is this element of discrimination which has prevailed through time. 2.1.1 Definition of Family According to Sociologists, the family is an intimate domestic group of people related to one another by bonds of blood, sexual mating, or legal ties. It has been a very resilient social unit that has survived and adapted through time. So, the element of time referred to above, is again present here. The family acts as a primary socialization of children whereby the child first learns the basic values and norms of the culture they will grow up in. a child needs to be carefully nurtured, cherished and molded into responsible individuals with good values and strong ethics. Therefore, it is important to provide them the best childcare so that they grow up to be physically, mentally and emotionally strong individuals. Similarly, The United States Census Bureau (2007) defines the family as a relatively permanent group of two or more people who are related by blood, marriage or adoption and who live under the same roof. Stephen (1999) defines the family as a social arrangement based on marriage including recognition of rights and duties of parenthood, common residence for husband, wife and children are reciprocal economic obligations between husband and wife. The family is seen as the main pillar block of a community; family structure and upbringing influence the social character and personality of any given society. Family is where everybody learns to love, to care, to be compassionate, to be ethical, to be honest, to be fair, to have common sense, to use reasoning etc., values which are essential for living in a community. Yet, there are ongoing debates that families values are in decline. Moreover the same family is viewed as an oppressive and bankrupt institution. George Peter Murdock (1949) defines the family as a universal institution. According to him, the family is a social group characterised by common residence, economic corporation and reproduction. It includes adults of both sexes at least two of whom maintain a socially approved sexual relationship and one or more children owned or adopted of the sexually cohabiting adults. However, K. Gough (1959) criticises Murdock definition and argues that the family is not universal. The critics were founded in the Nayar society. 2.1.2 Women and the Family The main role of women according to John Bowlby (1953) is particularly to act as mothers and as such their places are at home to take care of their children in their tender age. He states that juvenile delinquencies among young children are the result of psychological separation from mothers. The mental stability of children rests solely on their mothers. Therefore there is a need for a close and intimate mother and child relationship. However, Oakley (1974) uses the example of Alor, an island in Indonesia to refute Bowlby statement. In small-scale horticultural societies, women are not tied to their offspring, and there is no apparent side effect to it. Moreover, she does not see the intimate and close relationship necessary. Research has proved that mothers return to work after childbirth and that the children of working mothers are less likely to be delinquent than non-working mothers. Crouch (1999) describes the benefits gained by wives and mothers as the mid century social compromise. Duncan et al. (year) argue that women who define themselves as primarily mothers are located at all points on the social spectrum. Patricia Day Hookoomsing (2002) states that, plans and projects are designed and implemented by men. It is assumed that if men as heads of the family will reap the benefit from projects designed, automatically women and children will benefit. 2.1.3 The Darker Side of the Family / Erosion of Family Life Earlier in this review of literature, it is shown that the family is warm and supportive. However, many writers have questioned the darker side of the family. The fact that women spend most of their time either at work or doing household chores can lead to emotional stress in the family. The twentieth century family is mostly nucleus and thus children at times feel isolated and lacking the support of their extended kins: grandparents, aunts, cousins etc. They become introvert and their stress level rise to such an extent that when explosion occurs, it can have dramatic results. This may lead to violence, psychological damage, mental illness, drug intake, crime etc. The breakdown of children may lead to quarrel between parents. In the long run, marriages may fail and consequently lead to divorce. Incidence that may appear trivial can blow out of proportions and cause drastic consequence within the family. The mass media is increasingly bringing to people attention the sexual, physical and emotional abuse of children through neglect. Similarly, The National Society for the Prevention of Cruelty to Children (2000) parts that around 10% of children suffering from serious abuse or neglect at home by natural parents. Domestic violence is very prevalent in any society. It is estimated that one in four women are victim of domestic violence. 2.1.4 Conception about Family and Work Families and work have often been illustrated as separate entities, with women being linked to the home and men to the workplace. This separation unfortunately emanated by the sociology of the family being carried out as a separate domain from the sociology of work and occupations. However this assumption does not stand good in view of the increased participation of married women in the workplace. Early work by Rhona Raraport and Robert N. Raraport (1969) on dual-career families has talked about the benefits and strains of families with dual-earners. There are, however, many questions still to be answered concerning the interaction of family and work. Harkness and Waldfogel (1999) advocate that the formation of a family touches mostly female rather than male labour force behaviour. The withdrawal from labour after childbirth may lead to a depreciation of human capital. This may affect career commitment to employers and affect career progression. There are changes in family arrangements which prompt changes in production arrangements (Zaretsky 1976). Consumption was favoured to production within the household. Market relation became overruled by a capitalist market society and instead of economy being embedded in social relations, social relations are embedded in the economic system (Polanyi 1957). Dapne Johnson (1982) relates that the hours of work and schooling are organized at such time that it has become difficult to single-parent and dual-worker family. Moreover, school holidays add up to the problems of who will look after the child. Full-time married or cohabiting women generally have less time for leisure, as they are often expected to do two jobs their paid work and unpaid housework inside the family, Ken Brown (2008). 2.2.0 WOMEN AND WORK For most of us, work occupies a larger part of our lives than other single type of activity. In our modern societies having a job is important for maintaining self-esteem and to live in better conditions. According to Ken Brown (2008), work is the production of goods and services that usually earns a wage or salary or provides other rewards. The work may be effected in the formal or informal economy. He argues that work is an important element in occupying, directing and structuring the individuals time the demands of working life involve a high degree of self discipline if jobs are to be kept. It is, for most people, the single biggest commitment of time in any week, and it is perhaps one of the most important experiences affecting peoples entire lives. Work affects the amount of time and money available for family life. Work and family life have always been interdependent, but the increased employment of mothers just like nowadays the number of women working has risen from 66.2 million in 2009 compared to 1950 where it was 18.4 million. Pauline Wilson and Allan Kidd (1998) refer to work as a distinctive and clear cut activity. Work refers to the job or occupation undertaken. Work is both the place where one goes in order to do ones job and the activity that ones does. Sociologies increasingly recognize however that it is not easy to define work. The definitions concentrate solely on paid employment and are too narrow. Keith Grint (1991) also states the same thing and even presents a number of definitions to prove what he says:- Work can be seen as that which ensures individual and societal survival by engaging in nature. The problem is that many activities which cannot be seen are often regarded as work. Work cannot be defined simply as employment. Activities in which people are employed are also performed by people who are not employed. Examples include washing, ironing, etc., Work cannot be defined as something which can be done whether it is liked or not. Work can finally not be seen as non-leisure activities. Activities may be leisure for some but work for others. Work and leisure would be hard to separate if it goes together. 2.2.1 Reasons for working in paid employment Women work in paid employment for a number of reasons. These are as follows: Job satisfaction Money Company and friendship Status and identity To get out of the home and feel free To be independent 2.2.2 Functionalist Perspectives on Work and family Functionalist has given their views on the link between work and family and they argues that family meets the need of the workplace. The family adapts itself in the requirement of the society. They are living in a post modern way of living which is very good for the society as they prefer not to have children because of their career and some prefer to stay single and they are going according to the needs of the society. Functionalist like Talcott Parsons (1981) argues that women are proving the love care and affection to the family and men are maintaining order and security within the family. He also argues that it strengthens the conjugal bond between husband and wife and they complement each other. Young Willmott (1973) lay emphasis on how family evolved with the requirement of the society. Hence, both men and women are equal and they share the household work like for example man help in the kitchen when a woman is taking care of the child. P and B Berger argues that the bourgeois family already teach the child what the society want that is strict moral values and value economic success. Hence, how far does it apply in our modern society is highly debatable. On the other hand the functionalists have been criticized by E.Leach (1966) where he argued that the nuclear family is stressed. They are exploited by the capitalist and alienated; they work because they have no choice. Laing on the other hand argued that they are privatized they do not want people to know what is happening in their yard or house and they do not want people to come at their place without informing. Parents inculcate fear and suspicious in children so that they fear to revolt. 2.2.3 Feminist Perspectives on the work and family However, the Marxist feminists like Margaret Benston (1969) argue that capitalist pay women for their work at minimum wage scale. At present, the support of the family is a hidden tax on the wage earner that is his wage buys the labour power of two people. Thus, at work place women get jobs in the primary labour markets which are insecure, low wage income easily hired or fired. Even if women work they still have to act as a safety valve for the husband and men are still like a boss in the house. Hence, this lead to the work-family role conflict and tension are aroused by conflicting role pressures. Fran Ansley (1972) on the other hand wife still act as a safety valve and men are like boss at home. 2.3.0 WORK-FAMILY CONFLICT 2.3.1 Defining work-family conflict Howard (2008) in summarizing the definitions put forth by prior scholars (Greenhaus Beutell, 1985; Boyar, Maertz, Pearson, Keough, 2003) conceptualized work-family conflict as a type of inter-role conflict where both work and family issues exert pressures on an individual, creating a conflict where compliance with some set of pressures (family matters) increases the difficulty of complying with the other set of pressures (work matters). Work-family conflict has been shown to be related to negative work outcomes such as job dissatisfaction, job burnout, and turnover (Greenhaus, Parasuraman Collins 2001, Howard, Donofrio Boles 2004), as well as to outcomes related to psychological distress, and life and marital dissatisfaction (Kinnunen Mauno 1998, Aryee et al., 1999). Conflict occurs when the demands from one of these domains (home, work, personal, family etc) interferes with the other and causes imbalance (Frone et al., 1992, 1997). In todays hectic society, home and work are two colliding forces (Greenhaus and Powell, 2003) that has often lead to an imbalance, where women, lives to achieve fulfillment and satisfaction (Auster, 2001, Chalofsky, 2003). On the other hand, (Zedeck, 1992) suggests that a persons work experience influence his or her behaviour at home, influencing basic behaviors towards self and family members. Balancing the demands of work and the responsibilities of the family is an ongoing concern in organizational leadership. Today we are busier than ever. Gone are the days of the 40-hour work week, the two-hour lunch, leaving the office on time, and forgetting about office demands until the next business day. With todays advanced technology, such as cell phones with paging and instant messaging, wireless Internet access, and the mobile office following us wherever we go, it is easier to take the office on the road when we travel, even when the road leads home. Once at home, office responsibilities easily impose on family time with a quick call here and an email reply there limiting the amount of quality time available for the family. This incompatibility between the pressures of work and family concerns generates role conflict and stress on the follower. Researchers define the incompatibility between the domain of work and the domain of family as work-family conflict. Conflict between these domains occurs when participation in one role is more difficult due to participation in the other role. Today, work-family conflict (work interfering with family) is more prevalent than family-work conflict (family interfering with work) though both can occur. However, regardless of the direction of causation, when one domain is discordant with another domain, the result is conflict and increased stress on the individual. Current research focuses on the causes of work-family conflict, balance of time, involvement and satisfaction, quality of life, and the outcomes between the two domains. 2.3.2 Types of work-family conflict Greenhaus and Beuthell (1985) identified three major types of work-family conflict: (a) Time-based, (b) Strain-based and (c) Behaviour- based conflict. Time-based conflict occurs when time devoted to one role makes it difficult to participate in another for example, when mothers have to do overtime at work with little notice might make it difficult for them to meet family obligations, like picking up children from school. Time-based conflict, is the most common types of work-family conflict when multiple roles reduce the time and energy available to meet all role demands, thus, creating strain (Goode, 1960) and work-family conflict (Marks, 1977). Strain-based conflicts suggests that strain experienced in one role intrudes into and interferes with participation in another role; for example, mother who is anxious about their childs illness might not be fully concentrate on her job and this can cause mistakes in her work. Behaviour-based conflicts occur when specific behaviors required in one role are incompatible with behaviour expectation in another role. That is, when work roles cause problems at home or when home role causes problems at work. All these three forms are formulated based on the role theory, which conceptualize conflicts as reflecting incompatible demands on the person, either within a single or between multiple roles occupied by the individual (Kahn et al., 1964). (Carlson et al., 2000) also argue that another form of work/ family conflict is the Worry-based conflict in modern industrial society. On the other hand, increasing living cost, marital distress and parental stress may erode the stability of the family life (Lu, in press), causing worries which interfere with work. (Carlson et al., 2000) thus, defined worry-based conflict in terms of pervasive and generalized worries experienced in one role into and interfering with participation in another role. In a study, Fu and Shaffer (2001) identified several family and work specific determinants of FWC and WFC conflict, respectively. Testing these across the three forms of conflict-time, strain, behaviour-based they found that the family- specific variables were only effective in predicting time-based FWC conflict. As a group, the work-specific variables had much stronger effects and role conflict, role overload and hours spent on paid work were especially influential in explaining both time-based and strain-based forms of WFC conflict. Family conflicts was to be strong risk factor for the onset of elevated need for necessary need for recovery from work and fatigue. 2.3.3 Theoretical explanation of work-family conflict Two of the theoretical explanations of work-family conflict are: Attribution theory, Compensation theory. Attribution theory states that there are internal and external explanations for work-family and family-work conflict. An internal explanation is the desire to be successful in multiple roles such as mother or father, brother or sister, leader or follower, and peer or subordinate. Internally, work-family conflict occurs when what needs to be accomplished at work interferes with personal values. Personal values may include spending daily quality time with family or simply rejuvenating after a hard day of work. Internally-generated conflict can also occur when family responsibilities such as attending a school function or taking care of a sick child spills over into the responsibilities of work and increases the time spent away from the job. External causes of work-family conflict may occur when your work assignment takes more time to complete than what you have to give or when your spouse is unwilling to support your endeavors both at home and at work. Conflict between these domains al so occurs when the amount of control followers have over their job is limited and flexibility is minimal. Compensation theory suggests that people add more to one domain than the other in order to balance what lacks in either. In other words, life balance is a direct result of the amount of time and psychological resources an individual decides to commit to both domains. If the individual commits more time or psychological resources to work, then work-family conflict may increase. If an individual decides to commit more resources to family than work, but work requirements increase, then family-work conflict also increases. While the conflict between work and family may be inevitable, researchers such as Friedman and Greenhaus (2000) suggest alternative methods for reducing the stress. For example, more autonomy in the workplace and networking with peers can increase the quality of work life. Their studies show that individuals who work for organizations that allow individuals to spend more time at home, work in virtual employment, and make flexible time arrangements, tend to perform better as a parent than those who do not have these opportunities. Maintaining satisfaction on both fronts is important for reducing the feelings of conflict. 2.3.4 Concept of childcare The concept of childcare does not refer to supervision and responsibility of feeding, clothing and other aspects of daily care for a child for a certain period of time. Infact, childcare includes the responsibility of maintain a healthy balance of love, affection and discipline, to help all-round development of the child. Child care is one of the biggest challenges for working families. Due to their work responsibilities, parents are not always able to stay with their children and take care of them, as they would like to. Parents would like to leave their children in care of such individuals whom they can entrust their precious kids without any worries or misgivings. For a long time, childcare was the responsibility of the extended family. With industrialization and modernization of the family has created rather serious childcare problems. As the extended family weakens, help from relatives before more difficult for women who cannot afford childcare services, may have no choice than to opt out of the labour market. (Situation analysis of women and children in The Republic of Mauritius October 2003). When childcare arrangements break down, employed parents are more likely to be absent, late, report being unable to concentrate on the job, to have higher levels of stress and more stress-related health problems and to report lower parental and marital satisfaction (Galinsky Hugues, 1987; NCJW, 1987; Shin et al; 1987). Whenever a child is sick, very often it is the mother who has to take leave to take care of the child. Women spend more hours per week on household and on childcare than men do. And motherhood is a career liability for women while for men, being married and having children are both associated with higher earnings and being in upper level positions. (Friedman and Greenhaus, 2000). For many women parents stress starts as school ends. Most mothers cope with their child-care needs by taking children with them to work; leaving children with relatives, neighbors or older siblings and for short period of time leaving them alone. Children who are too old for day-care must stay in an empty home for several hours after school before the parents return from work. Such children are sometimes called latchkey children because they are usually given a key of the house or apartment so that they can let themselves in when they get home. Although the recent practice of women working brings financial independence, it also exalts difficulties and stresses to the working womens lives. This stress damages not only the quality of life and health of those who are victims (Parasuraman and Greenhaus 1992; rice et al; 1992). It can drive to unsatisfactory behaviors at jobs: delays, absenteeism, lack of motivation, reduced output (Beuthell et al., 1991) and in more difficult relation within the family (Duxbury and Higgins 1991; Parasuraman et al., 1992; Frone et al., 1992) This increased participation of women in the labour force has changed the traditional roles of men and women within the two-parent family resulting in the phenomenon of the dual-career couples (Kirrane and Monks, 2004). Balancing work, housework, and child-care responsibilities can become strenuous which can result in work-family conflict. This can be very costly to both organizations and employees within them (Posig and Kickul, 2004). As highlighted by Allen, Herst, Bruck, and Sutton (2000), the increase of dual-career couples with young children and changes in the traditional family structural configurations have resulted in changes in home and family responsibilities for both men and women. Even for todays dual-career couples, the transition to parenthood tends to mark a reversion to a more traditional division role, with women doing the lions share of the household maintenance and child care planning (Carler, 1996; Hoschchild, 1989) Childcare is a conceptually distinct and especially burdensome aspect of household labour (Berk, 1985; Rexroat Shehan, 1987). Floge (1986) points out that one major problem facing dual-earner couples are arranging for child care. As the number of dual earner couples with children increases, responsibility for child care arrangements becomes an increasingly important aspects of household labour. In addition to bearing the responsibility of proving adequate child care to their children, women may also experience feelings of guilt if they do not at least devote some of their free time to this task. Some women may therefore reduce their amount of sleep of free time resulting in the accumulation of strain and stress (Sterwart D.Friedman, Jeffrey H.Greenhaus, 2000). In addition to globalization the other key that has affected dual-income working families is the dramatic change in the characteristics of labour force. We all know that that due to globalization there has been a change in the nature of work and this has resulted from long hours of working. We cannot just blame families especially women for not being able to provide enough care for their children we must also know why the situation is like this. Hence, families has no other choice because may be they fear from being unemployed and nowadays being unemployed is not a pleasant thing due to the high standard of living. Families may no choice except from working because of being a single parent who has to take up all the responsibilities alone or because of being poor. However, we do agree with the fact that parents are working for the benefit of the family but how far is it really benefitting the family? When both parent work especially for long hours of work it become impossible to take care of the house and children because of exhaustion, stress and sometimes office work is being continued at home. This usually creates conflicts at home like domestic violence, long disputes where it affects not only parents but children as well. Sometimes everything end up by a divorce, the child will not be able to say anything but it affect him mentally and are unable to cope at school. Moreover, even if children are grown up they still need care and affection of parents which parents are unable to provide them due to their work overload. In a recent research womens work burden and human development in Mauritius (Feb 2006), Miriam Blin found that most women from EPZ felt they could not give their children care and attention they needed. Many could not provide care their children required. This, is why sometime children does not work well at school just like (see, for example, Behrman et al., 1999 Lack of parental support and involvement, as well as the absence of early stimulation, together with the breakdown of the family structure have been found to be important factors affecting childrens performances. Therefore, parents should find time to know what children are doing at school. Nowadays, children spend most of their time on Facebook and due to the fact that there is no parental control they have access to other site like pornography. Children are sometimes infl uence by peer group and may be this is why there is juvenile delinquency, like school truancy, smoking. There is lack of communication at home and children are unable to communicate with parents. Parents take children for granted where they think that their values and way of thinking do not differ. In a way parent should be involve with children so that they know what their children are doing and build a close relationship between both of them because it is not money that count, love, care and affection are more important and we should not forget that todays children are future adults citizen whom lies the responsibility to ensure the social and cultural harmony. Seeing all this we can say that we cannot apply the functionalist view in our society but we should also know that all society and all family differ.

Mr Makedama

Macadam case analysis by UCT group of MBA students Company overview: Macadams Bakery Supplies Holdings (Macadams) is a manufacturer of oven and other appliances for the baking industry. Their financial statements for 1996 highlight a very strong year. Turnover grew by 59% to R125. 3m and profit increased by 81%. An acquisition of Livanos Brothers (February 1996) took place in response to the increased demand in the local market as well as an expansion of market base in foreign markets. Depreciation of the Rand against other major currencies also supported export sales.The company has entered a phase of rapid expansion, expanding its main factory in Cape Town by 50%. As well as opening new sales and distribution centers in Durban and Bloemfontein in the current year, with further plans to expand in to Zimbabwe in the following year. An analysis of the company’s financial statements will determine whether the company is in a position to leverage its expansion, or whether it is p erhaps growing too rapidly. Detailed Financial Analysis Profitability: Macadams experienced a healthy turnover, which increased by 58. 5% between 1995 and 1996.This â€Å"abnormally† high growth in turnover was due to a surging demand for their products, favorable exchange rates and acquisitions of business’s, which complimented their current product portfolio. They further expanded the operational network to service the growing market they were operating in. It should however be noted that a growth rate of 58. 5% per annum is not sustainable or realistic, and although Macadams has extended their products and services to global markets through joint ventures and M&A’s, there would be a point where there growth would become organic, or at least in line with industry standards..Although operating and net margins have improved since 1995, the net margin remains low at 8. 5%. This indicates that despite dramatic increases in revenue, Macadams have only marginally im proved the ability to generate profits. Liquidity: The income statement displays a healthy growth by Macadams; however the cash flow statement shows a contradictory picture. Macadams have a serious liquidity problem. Cash generated from operations is significantly down by 87% in comparison to the prior financial year.The operation did not generate sufficient cash to fund its interest, taxation or dividends payments for the year. As a result these payments were made through borrowed funds. Working capital movements in 1996 adversely impacted cash generated by operating activities, with a noticeable increase in working capital of 595% from R2. 7million to R19million. This is due to an increase in inventory of 66%, to meet perceived consumer demand, which was funded by cash resources. There has also been an increase in debtors of 129%, due to increased credit sales.Furthermore, creditors increased by 87%, which only partially offset the increase in current assets. This is a scenario of a business expanding too rapidly. There are high levels of sales and gross profits, but a serious cash flow problem created by inventory build-up, and high level of receivables. Cash is now tied up in stock and debtors. The lack of available cash in the business could impact Masadams’s ability to service their short-term liabilities. Efficiency: Macadams have become less efficient in 1996. The accounts receivables increased by 129% in 1996.Reviewing the debtor’s collection period we can clearly see the longer collection period (53 days in ’95 to 77 days in ’96) could be indicative of more relaxed credit terms, which could be MBS’s strategy to attract more sales and increase turnover. This strategy does however create a risk of bad debt and creates a problem for operational cash flow, as it currently is experiencing. It is also noted on the financial statements that Debtors have been used by ceded to the banks as security for facilities granted. Ce ssion of debt means that the banks do not have faith in Macadam’s ability to repay its debt.Leverage The debt ratio has increased by 9%; this was for the funding of the expansion. The additional funding taken out, mortgage loan is secured by land and buildings, and the movable assets secure the installment sale agreement. This is risky as it means should Macadams fail to make payment on either of these loans, they would lose R4. 3 million of its movable and immovable assets. Incurring debt to expand their operations and grow the business is not a bad thing, and is necessary. Despite the massive increase in debt, the interest cover ratio is still healthy.This however, is not a cash based ratio and gives us no indication as to whether the company is able to make its cash payments to service the increased quantities of debt. For this reason the concern would be raised with respect to Macadams ability to service their debt. This concern is specific to their lack of liquid funds a vailable in the business. DuPont analysis: With the aid of the DuPont model of analysis the following observations were made: Macadams ROE, of 30. 63%, has decreased by 1. 4% during the financial year under review.However it could be seen as a good return on equity, as it is 10% higher than the prime interest rates at the time (20. 25% Nov 1996). Macadams have become less efficient in using its assets to generate profits. Its’ efficiency ratios demonstrate a drop from 2. 37 to 1. 90; however this could be explained by the timing of the acquisition of assets. Vacant land was acquired in September 1996, just three months before the December year-end, and new premises opened in Bloemfontein in November 1996. These assets would not yet have had the opportunity to generate the profits that may be expected in future.Macadams profitability has increased marginally since the previous year; however their net margin is still a low 8. 50%. Macadams are not using its revenue to generate sufficient profits. In terms of leverage, the ratio has increased marginally from the 1995 financial year, to 1. 89, in line with increasing debt in terms of both long-term and short-term borrowing. Conclusion: Macadams are a promising business which is currently generating high sales volumes and generous profits. The problem with the business is the following: †¢Their inability to translate their sales into cash. The drive and efforts to grow the business at a rate which is not practical to their available resources and balance sheet; this results in the following: oAccrual of high volumes of long-term and short-term debt. oHigh inventory levels as a result of their steep growth plan which they have implemented (cash on the shelves/in the store room) oIncreased overheads to operate newly established network offices to service the market. If Macadams operates their business as they are, they will eventually grow their business into bankruptcy.As a â€Å"turn around† stra tegy, I would implement the following initiatives to maximize the output of the business and create a more sustainable business model. †¢Slow-down the growth rate which Macadams is currently experiencing. †¢Limit its debt, i. e. not take out any further debt. †¢Analyze the current business operations to improve operational efficiency, thus decreasing COS of sale per unit sold, and inevitably increasing gross, net and operating profit margins. †¢Improve sales efforts to reduce inventory levels, and simultaneously increasing overall sales. Macadams should also review their current costs and look for cost saving initiatives. This will ensure that the revenue increase is matched with a similar increase in profits. †¢Ensure the business is more liquid by having more operational cash and cash in the business; this can be achieved by decreasing the debtor’s collection period from 77 days to 30 days, and increasing their creditor’s period to 45 days. I f I had shares in Macadams I would hold on to them if the above initiatives were implemented, as this would ultimately result in an increased EPS.

Modernization Theory and Classical Dependency Theory Essay

Modernization theory is the process of transforming from a traditional or underdeveloped society to a modern Western societies way of life. Basically, Modernization theory became the foundation stone of this evolutionary prescription for development. The theory is not homogeneous—numerous proponents disagreed on several key features. But in broad outline, the theory focused on deficiencies in the poorer countries and speculated about ways to overcome these deficiencies. It viewed traditional society as a series of negatives: stagnant and unchanging, not innovative, not profit-making, not progressing, not growing. Modernization is the economic growth within societies and the third world did not undergo these economic or political transformations; it was ‘left behind’. So the task of the Third World is to transform itself from tradition to modernity. That is, to follow the footsteps of the Western world. In fact, because the path is now charted, these countries can avoid the mistakes made by the West. On the other hand, Dependency is also not a homogeneous, unified theory—serious analytical differences persist within the school. Economic growth in advanced countries created Third World poverty in its wake: not simply that the Third World is poor in comparison with the industrialised world; rather that it is poor because development of the industrial system in Western Europe and North America changed and impoverished many societies of Asia, Africa and Latin America, through colonialism, imperialism and extractive terms of trade. When capitalism began to spread, the ceaseless search for profit began: through the production of agricultural goods in colonies or other lands, and Western Europe’s ability to drive unequal bargains. This fundamentally changed the social structures of the Third World. The term dependency comes from this link: Some say the exploitation of various regions for their raw materials and labour impoverished them and made them depend on the West. Others point out that in fact it is the other way around: that the West has been dependent on the Third World though history in order to be able to grow and prosper. Modernization theory sees capitalism as a creative force, causing growth and progress. Dependency sees international capitalism as the ruin of the Third World. Modernization sees rich countries as helpers of poor countries; dependency sees them as the main obstacle to the well-being of the poorer countries. Not all of dependency theorists’ prescriptions are anti-capitalism however: some see  some good in using capitalism and protectionism to enhance national economies. Both theories have point in terms on how develop these third world countries and address poverty. According to modernization perspective the causes of poverty are due to structural restraints placed on the third world by European powers. It describes the structural restraints as unequal exchange. The declining â€Å"terms of trade† as the price of exports from the third world are decreasing, while prices from developed countries are increasing. This effect creates a circular trap as wages in third world countries are low, which declines the export prices, while wages in richer countries a re increasing, which cause increases in the price of industrial goods. This means underdeveloped countries need to constantly increase their yields and exports for their profits to stay the same. On the other hand, dependency perspective argues that the causes of poverty in third world countries are due to their traditional cultures and values. These theories believe that in order to solve this problem poor countries can succeed through following the footsteps of developed countries. These would include invading other countries to. However, this is quite unachievable because we are now in modern time. In the case of the Philippines, I believe that we can achieve and become one of the develop countries. For example, iphone has a metal cover and iron to its internal body; the metal was produced through mining and exported to some countries. When it goes back it becomes iphone and it cost more expensive. In other words, the countries that produced metal and have limited technology are making those developed countries richer. Instead of exporting those products, utilized it within the country and profit more from it. Lack of technology is not the reason to depend in the western countries, impatient and being contented for what they have. They don’t think of the better things that they can have. The real essence of democr acy was turned off and forgot that it is the rule of the mob. If these theories are really applicable how come third world countries are still crapping and suffering from poverty. But it is very applicable it’s just happen that the attitude and the thinking of the people are different. Like what I have learned from Cuban people, people must change their way of thinking.

The end - 6477 Words

House on Mango Street Study Question Key â€Å"The House on Mango Street† (section 1) 1. Esperanza is the narrator of this story. What is her attitude toward the house on Mongo Street? -She does not like the house. It is not their dream house. It is falling apart. The family owns this house, so they are no longer subject to the whims of landlords, and at the old apartment, a nun made Esperanza feel ashamed about where she lived. The house on Mango Street is an improvement, but it is still not the house that Esperanza wants to point out as hers. 2. What is the dream house that Esperanza describes? What does it show about her? -A house with stairs, running water, rooms for everyone. The dream house shows that Esperanza and her†¦show more content†¦Ã¢â‚¬Å"Our Good Day† (section 6) 1. Who says, â€Å"If you give me five dollars I will be your friend forever?† -Rachel 2. There are two reasons for the five-dollar request. What are the reasons? -For a new bike and for friendship 3. Why does Esperanza agree to do it, and why is $5 cheap? -She really wants a friend. $5 is not a lot for 2 friends. 4. Why does Esperanza like Rachel and her sister Lucy? -Lucy and Rachel are Chicana sisters whose family is from Texas, and when Esperanza is embarrassed to tell her new friends her name, they dont laugh at it or find it unusual. 5. Describe the sister’s clothing? -They were wearing their black Sunday shoes without socks. Etc. 6. Why does Esperanza agree if she knows it â€Å"will make [Cathy] mad forever†? -Cathy does not want Esperanza to have anything to do with Lucy and Rachel, explaining that they â€Å"smell like a broom.† Lucy and Rachel are more similar to Esperanza than Cathy is. 7. Why is the ride back â€Å"crooked†? -All three girls were riding the bike together. â€Å"Laughter† (section 7) 1. Why is the laughter of Esperanza and her friends â€Å"like a pile of dishes breaking†? -Esperanza and her sister are characterized with this type of laugh. It shows what the two have in common. 2. Why does the house â€Å"feel right† to Esperanza? -It reminds her of the houses in Mexico. 3. Why does Nenny agree, and how does her reaction bring Nenny and EsperanzaShow MoreRelatedJourneys End by R.C Sherriff.1739 Words   |  7 PagesHow does Journeys End show the effects of war on the men involved? Journeys End is a play about British soldiers in World War One, and the effects the war has on them, both physically and mentally. The play explores many aspects of war life, including friendship, alcoholism, class boundaries and the lifestyle of the men in the trenches. This essay explores how the play shows the effects of war on those involved, looking at use of dialogue, lighting, props and other key dramatic devices. The essayRead MoreEnd of the World Essay examples2245 Words   |  9 PagesDo you expect the world to end? Will humans leave the world to another life form soon? These questions have plagued man since his inception on this planet. 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