Capital budgeting Essay

A – Capital budgeting is an analysis of potential additions to fixed assets, it is part of the long term decisions taken by the top management and involve large expenditures. The capital budgeting is very important to firm’s future. The difference between capital budgeting and individual’s investment decisions are in the estimation of cash flows, risk, and determination of the appropriate discount. B – The difference between interdependent and mutually exclusive projects is that the independent project’s cash flows are not affected by the acceptance of the other, although the mutually exclusive can be adversely impacted by the acceptance of the other. the difference between normal and no normal cash flow stream projects occurs in the signs since for the normal cash flows if the cost ( negative CF) followed by a series of positive cash flows will lead to one change of sign. On the other hand the non-normal project cash flows have two or more changes of sign C – 1 NPV: is the sum of all cash inflows and outflows of a project C – 2 – The rationale behind the NPV method is that it is equal to PV of inflows minus the cost which is the net gain in wealth. If the projects are mutually exclusive we will choose the project with the highest NPV and here in our case we will choose project S since it has a greater NPV compared to project S (19.98>18.79). If the projects are independent we will choose both. C – 3 The NPV will change if the WACC change; if the WACC increases the NPV will decrease on the other hand if the WACC decreases the NPV will increase. D – 1 Internal rate of return (IRR) is the discount rate that forces PV inflows equal to cost, and the NPV = 0. IRR using excel for project L: IRR 18.13% For project S: IRR 23.6% D – 2 A project IRR is the same as a bond’s YTM. The YTM on the bond would be  the IRR of the â€Å"bond† project. D – 3 If IRR > WACC, the project’s return exceeds its costs and there is some return left over to boost stockholders returns. If IRR > WACC, the project is accepted and if IRR < WACC, the project is reject. If projects are independent, we accept both of them, as both IRR > WACC. If projects are mutually exclusive, we accept the one with the highest IRR. D – 4 IRR do not depend on the WACC, so if the WACC changes, the IRR for both projects will remain the same. E – 1 Excel=NPV(rate,CF1:CFn) + CF 0 WACC NPV L NPV S 0% $50.00 $40.00 5% $33.05 $29.29 10% $18.78 $19.98 15% $6.67 $11.83 20% ($3.70) $4.63 Cross over rate is equal to 8.7%. CF Differences 0 -60 10 60 IRR = 8.7% E – 2 For independent projects, both IRR and NPV will lead to the same decision. If projects are mutually exclusive, there is a conflict between the IRR and the NPV. Since we said that NPV is the best method to use in case of conflict, project L will be selected based on this method. F – 1 The slope of the NPV profile depends entirely on the timing of the cash flows; long-term projects have excessive NPV profiles than short-term projects. We conclude that NPV profiles can cross in two situations, first when mutually exclusive projects differ in size: the smaller project frees up funds at t = 0 for investment. The higher the opportunity cost, the more valuable these funds, so a high WACC favors small projects, and second when the projects cash flows differ in terms of the timing pattern of their cash flows: the project with faster payback provides more CF in early years for reinvestment. If WACC is high, early CF especially good, NPVs > NPV L (projects studied in class). F – 2 The reinvestment rate assumptions: -NPV method assumes Cfs are reinvested at the WACC. -IRR method assumes CFs are reinvested at the IRR. -Assuming Cfs are reinvested at the opportunity cost of capital is more realistic, so NPV method is the best. NPV method should be used to choose between mutually exclusive projects. -Perhaps a hybrid of the IRR that assumes cost of capital reinvestment is needed. F – 3 Some projects will result in different IRR and NPV. The NPV will be selected to decide if the project is going to be accepted or not. We do not use the IRR first because it does not take into account changing discount rates, so it is j not adequate for longer-term projects with discount rates that are will probably vary. Second, the IRR ineffective is a project with a non-normal cash flow streams (mixture of positive and negative cash flows). G – 1 MIRR assumes reinvestment at the opportunity cost =WACC. MIRR also avoids the multiple IRR problem. G – 2 MIRR does not always lead to the same decision as NPV when mutually exclusive projects are being considered. In particular, small projects often have a higher MIRR, but a lower NPV, than larger projects. Thus, MIRR is not a perfect substitute for NPV, and NPV remains the single best decision rule. H – 1 Payback period is the number of years required to recover a project’s cost, or â€Å"how long does it take to get our money back?† H – 2 The payback period tells us when the project will break even in a cash flow sense. With a required payback of 2 years, Project S is acceptable, but Project L is not. Whether the two projects are independent or mutually exclusive makes no difference in this case. H – 3 Discounted payback is similar to payback except that discounted rather than raw cash flows are used. H – 4 Discounted payback still fails to consider cash flows after the payback period and it gives us no specific decision rule for acceptance. However, payback is not generally used as the primary decision tool. Rather, it is used as a rough measure of a project’s liquidity and riskiness. I – 1 2 3 CF -800000 5000000 -5000000 WACC 0,1 To find NPV we used excel: Excel: =NPV(rate,CF1:CFn)+CFO NPV (386 776,86 DT) Excel: =IRR(CF0:CFn,Rate) IRR 25% Excel: =MIRR(CF0:CFN,Rate) MIRR 5,6% 7

My American Dream

The American dream can have so many different meanings to so many different people around our country. This is what makes the American dream so wonderful, the fact that you get to determine your dream is in some cases the American dream for some people already! Luckily I myself am able to determine my American dream. I have always thought of my American dream of being able to live a simple life in which I am able to have a stable job that I enjoy.Most importantly though is I would like to not only have free time and do things that enjoy like watch my favorite sports team or spend time with my friends. Overall I guess you could just say that I would just like to live my life to the fullest. Some other things that I would like to be included in my American dream is being able to manage my time the way I want to, although this sounds like a very simple wish in my opinion people don’t realize how much time can dictate your life.So many times I find myself missing out on the opport unity to do something simply because there wasn’t enough time. Lastly but most importantly I dream of living a long-term healthy life because no matter what you wish for, you would never be able to enjoy it without your health. I believe that my American dream is reasonable and achievable and one day I hope to end up getting to live a life similar to this.

U.S. History 1919-1945 Notes

U. S. History notes Red Scare 1919: I. Mass hysteria II. Why: unrealistic irrational fear. A. Expectations up and down: 1. Prosperity: People are doubling income (1915 income: 408$ yr to 1920 835$ year) 2. Post war recession B. Super patriotism/Slackers (you’re a slacker if not a super patriot) 1. Committee for Public Relations (C. P. I. ) (Creel Committee) – Read propaganda papers, pushed conformity and supported Boy Scouts for war. 2. Espionage and sedition acts A. Clear and present danger: speech that presents this is not protected. cant yell fire in a theatre as a joke when there is no fire. Not protected by amendment). 3. Radicals: A. Industrial workers of the World (IWW): nicknamed Wobblies. Loudmouth aggressive workers, and when on strike did it vigorously to prove their point. Opposed WWI.Persecuted, charged with violating sedition acts, shut down and some thrown in jail. C. 1919 Incidents (convinced people that there are threats everywhere) 1. Bombs (mail bombs , one goes off in A. Mitchell Palmers yard so he constructed the Palmer Raids. People that went on strikes considered radicals). 2. Strikes A. Boston police: (19 police got fired for joining AFL so rest of boston police walked off the job) Coolidge convinced them they could not strike and had to go back to work, and most did. B. Steel: went on strike for higher wages, and better working conditions. C. Coal: went on strike for higher wages. 4. Centralia Massacre 11/11/19 * Wobblies thought they were going to be attacked so they opened fire on a parade that was taking place for Armistice Day. Wobblies kill a few men, allWobblies come out except for Wesley Everest who came out of the building firing at police killing one and he was eventually killed. (He was thought to be a crazy radical and a hero by some) III. Palmer Raids, Dec. 1919, Jan. 1920 – Thousands of immigrants are rounded up in cities from coast to coast, deported back to their home country or charged with a crime fo r being suspicious. Some 6-7,000 was rounded up in total. None of these people were charged with a crime when they were picked up, thus making it biggest violation of civil liberties in U. S. IV.End of Scare: May of 1920 the fear of radicals comes to an end. After WWI conformity begins and we lose a lot of cultural diversity. – Palmer (attorney general) creates Anti-Radical Division and appointed Edgar Hoover to lead it and go after radicals. – John L. Lewis: – Harding died in 1923, buried in hometown of Ohio. Had poor judgment of character, but never accused of accepting bribes. His administration collapsed bc of scandals. Harding got sick in Seattle, but a book was written about how his wife poisoned him. Harding: I. Teapot dome II. Lucid Press A. Gaston means, â€Å" The Death of Harding†B. Nam Britton, The Presidents Life – She claimed to be The presidents mistress and have sexual encounters in the White House Calvin Coolidge: – became p resident after Harding died. He was a Puritan, serious individual, and gained nickname â€Å"Silent Cal† for being very quiet and not talking much. Famous quote of his â€Å"They cant hang you for what you don’t say†. He was thought to be mean spirited (Laughed at others discomfort and misfortune). His wife was Grace Goodhue (she taught the deaf & blind), very friendly and positive influence on Coolidge and contributed to his success. Happy as V. P. c he didn’t have to do much. I. Silent Cal A. Bg B. Gov. > V. P. > President C. Cleans house – cleaned out the white house, trying to get rid of the corrupt people. Brought in Harlen Stone to bring back pride in W. H.. D. Pro Business and Capitalism – He kept the concept of pro business, was an old form of Capitalism. II. 1924 election – A. Democratic disarray – Took 100 ballots to elect representative. John Davis was Democrat’s choice. Republicans won. B. Progressi ve Party – supported Gov. Fallett, received over 4 mil votes. Disappeared after 1924. C. Republican majorities III. AdministrationA. Andrew Mellon – Old man, super rich, from Pitt, worked in steel business, owned coal, iron and steel mills. Tried to control aluminum market, didn’t work, but became even wealthier from this, volunteered service to help Republican Party to gain a positive environment. 1. Budget & accounting Act, 1921 – Harding admin. Part of modernization of American govt. 2. Revenue Act, 1921 – Coolidge admin. Established Tax rates, Cut top rate from 75% to 50% ended Excessive Profits tax. Tried to eliminate inheritance tax, didn’t work, doesn’t change lower income tax (realized this was a mistake). . Revenue Act, 1924 – Revenue acts created loopholes, made tax avoidance legal, but tax evasion was illegal. Coolidge Admin. Top rates drop again from 50% to 40%. Thought to trickle down and help the poor, and low ered poor income tax. Trickle down Economics came from these Revenue Acts. III. Fordney-McCumber Tariff Protective – 1922 (tariff is tax on imports) this taxed imports to protect domestic manufacturers. V. Balanced Budget 5. McNary-Haugen Veto, 1927, Over Production – estab. Commodity prices so farmers could make a profit. Congress passed this and Coolidge vetoed it. Controversial veto) Farmers started supporting other political leaders. 6. Hoover & Dept. of Commerce Consumerism Cont. I. Theory & structure: – Welfare capitalism: Trying to get better working conditions. II. Business as Religion – Bruce Barton III. Labor Reforms A. Taylorism * Frederick Taylor & two-motor studies B. Cellular Work Force: manufacturer’s organized their workers into groups called cells. Policed themselves, making it easier for people at higher position to have less people to watch over C. Pergs: Received bonus’s and pay raises for good work and got pe nsion plans.D. Company Unions: Yellow Dog – administered perks that went to union worker, not considered a real union group. * Councils: organized work force and dealt with stuff below management and relayed info. * Sports Teams: organized sport venues across America. E. Class Consciousness 1. Family structure a. Who works: husbands, wives, and kids do when they grow up and are old enough. b. Kids: Early childhood they sold goods to make $ for family. c. Gender roles: different sexual roles between men and women and cultural naturalism of sex. 2.Middle Class Reformers: thought if middle class family’s had less kids they would gain a better middle class status. Settlement houses 1. Hull house: ran by Jane Addams, middle class woman, supported by philanthropy. Helped uplift working class. 2. Assimilation goods a. Class: taught English, etiquette, daycare for kids, abuse programs, and cleanliness b. Ethnicity: Different ethnic groups go about their lives differently and e njoy different leisure activities. I. Auto Industry a. Sig 1. 20th century 2. Spin offs a. Steel production rises b. Closed cars (glass and leather) c. Rubber production increases d.Gasoline production increases and 4 strokes is mainly used for cars. e. Road: smoother roads were demanded. By 1920 $1billion dollars a year spent on new roads and $400 million a year on road maintenance. 3. Proliferation a. By 1912 – car sales are 150,000 yr. b. By 1921 – reaches 1 million a year. c. By 1930 – 23 mil. Sold and 1 in 5 people own a car. B. Henry Ford 1. Model T – prod. In 1908 and Model A produced in 1928. Added color to cars in 1928 due to competition. Sued a parts dealer bc Ford used the crates that the parts came in to build his model T car and they were randomly changed by the dealer who had no clue he used the wood. . Production efficiently and mass-produced on assembly line to help cost, wages and efficiency better. 3. Cost was 300$ a day and wages were 5 $ a day. C. William Crapo Durant, GM – financier/investor not a banker A. Buick, 1904 B. 1910: Ads Oldsmobile, Pontiac, and Cadillac. C. Added Chevy (cheapest of these brands); acquires suppliers such as fisher body, Remy electric and DELCO. Cars at this time were self-starters, no keys used, just crank the engine and go. D. GMAC – General Motors Acceptance Corp. loaned you the money so you could buy a GMC. E. 1929 & Depression: Crapo lost GM and Durant owned it.Crapo had the idea of building a super market, putting everything into one big warehouse to make it more convenient, but before his idea came to life he died in 1933. D. Impact of Cars 1. Accidents and Death: 30,000-40,000 deaths a year. 2. Pollution: invisible pollution from 1920-60’s was terrible due to lead in the gasoline. Removed from gas in 1970. 3. Morality – people’s morals changed w/the use of more cars. (Lovers lane, social events, statutory rape) 4. Autonomy: traditional; car s gave people more individual and reinforced their autonomy. Cars are so culturally significant and reinforce individualism.IV. Radio Advertising: first mass media, by 1927 radio sales reached 20million plus a year. A. Psych Ads > behaviorist psychology: looking at people as a mass society, studying people and stimulus, measuring a response scientifically. Stimulus ad is a buying response. B. Radio: mass media – KDKA, 1920 – commercial station – 500 & 1922 – 500 radio stations across the country. 2 years and radio blanketed America. – NBC, 1926 – first radio network. Formed by RCA, General Electric and Westing House. By 1926 conglomerates start to squeeze out the independent radio station owners. Amos and Andy, 1928: comedy radio show, black ethnic humor. 1st show that acquired a single sponsor (Pepsodent toothpaste) C. Planned obsolescence – used engineers to create certain products. – Tech Shift: continually buying new technology products. Not really a new product, just a way to stimulate the economy by making people want to buy something new. Immigration & 2nd KKK I. Old and new immigration – Old immigrants were 19th century ones coming from Britain, Germany, Ireland and other Northern Englanders. New immigrants came from southern and eastern Europe (Italians, Russian Jews (Pale), and Slavs and Greeks).II. Nativism & Restrictionist – A. Origins: 1. late 19th century 2. red scare: immigrant radical scare 3. Eugenics: fake science, ignorant people claiming a false fact. A. Madison Grant, â€Å"The passion of the Great Race, 1916† – refers to (WASP) White Anglo-Saxxon People who are going to ruin and change American culture. B. Anti-Semitism rises (anti-Jew) – III. KKK A. Rise in Atlanta, 1915 1. Col. Simmons – Runs the KKK 2. Birth of a Nation, 1915 – First recognizable movie. About American Civil War. KKK depicted as heroic in a sense. D. W . Griffith created movie reels and he’s a filmmaker. 3.Edward Clarke – comes up with KKK costumes and KKK words. He’s in it for the money and business. B. Peak 1924 – peak of the KKK. 4. 5 Mil members and dominate 7 states (Ok, Cal, Chi, Ind. are a few) 1. Political Clout – 2. Rural and Urban C. Fall 1925 1. David Stinson, Indiana – friend of Indian govt. Ed Jackson, used KKK to enrich himself, raped secretary and she tried to poison herself and died a few weeks later and Stevenson charged w/2nd degree rape and murder. This was tied into KKK. 2. Other Factors IV. Restriction Legislation A. 1917 Immigration Act – starts process of restricting certain immigrants. . Head Tax – not free to move to America. 8$ was the head tax. 2. Literacy Test – proving you can read and write in a language. Didn’t want mentally incompetent people coming into the country. B. Quota Acts – limits foreign-born number of immigrants. 1. 1921 Immigration Act – 358,000 accepted (3% of 1910 census) (200,000 were N. W. Englanders). These were the new immigrants from S. E. Europe. 2. 1924 Immigration Act – 150,000 accepted (2% of 1890 census and 132,000 could come from N. W. Europe) CRIME AS ENTERTAINMENT I. Leopold and Loeb, 1924 – smart genius kids, lived in San Fran.A. â€Å"Perfect Murder† – Bobby Franks was the 14 yr old kid they killed. Led him to a vacant lot and bludgeoned him to death. Leopold dropped his glasses at the crime scene. Police caught them and Loeb cracked first. Loeb was sexually attracted to Franks so that was his reason to kill him and Leopold was convicted as the accomplice. B. Defense 1. Clarence Darrow – Attorney of the 2 and he tried to convince the judge that they were mentally diseased. Became known as the insanity defense from then on. Both convicted to life in prison. C. Spectacle 1. â€Å"The Rope† etc. A film by Alfred Hitchcock based off the Leopold and Loeb murder. II. Hall-Mills murder, 1922-26 A. Rev. Halls and Mrs. Mills – bodies were found in a lover’s lane. No clear evidence of who did it. Allegations of Mills brothers killing them and Hall’s wife had killed them. B. Trial – only evidence here was the love affair between them 2. 1. Politics 2. Pig Woman – Pig farm was about a mile away. Daughters farmer was â€Å"pig woman† bc of her residence and appearance. She didn’t see anything just heard noise of a car/gun fire. Mother claims daughter is retarded and no one ever found out who killed them.C. Spectacle 1. Radio – Halls and Mills trial was played out over the radio for the 4 year duration of the entire event and everyone was acquitted. III. Lindbergh Kidnapping, 1932 – famous pilot who flew around the world. Lindbergh and wife lived out in country. A. Kidnapped, March 1932 – Lindbergh son was kidnapped out of 2nd story room and a lad der and ransom note were left behind. Lindberg paid a ransom, but his son was never returned. B. Trial 1. Bruno Hauptman – German immigrant accused of crime. Wood used to make ladder was from Hauptman house. He was found with some of the ransom money.Found guilty and executed. A year later the baby’s body was found. C. Spectacle 1. â€Å"Trail of the Century† – Charles Lindbergh went into hiding with his wife and they moved out of the country then back to Hawaii in a secluded area where he had to fly to get there. MOVIE INDUSTRY I. Tech Shift – movies offered motion pictures however it was 2D on a flat screen. Nickelodeons were first movie viewing attractions. Movies weaned people from nickelodeons to movie theaters. A. 3D > 2D – 1920’s shift from nickelodeons to movie theaters, attracting people bc its larger a larger than life, moving picture with music.Started in the 19teens and became a cultural phenom. B. Motion Picture 1. Gre at Train Robbery, 1903 – lasted 8 minutes 2. Motion Picture Patent Co. 1918 – Located in New Jersey, tried to create a monopoly around NYC in the movie industry 3. Independents – they didn’t agree the Motion Picture Patent Co. so they packed up and headed west. 1st stop was Flagstaff, Arizona. Settled in a town north of L. A. II. Tinsel town: Hollywood’s nickname. (1912 – 13,000 movie places, 500 in NY. Attendance by 1922 40 million and 100 million by 1930. 1925 Movie industry was 4th largest. Birth of a Nation† recognized as first reel movie, had 12 reels, was hours long, made by D. W. Griffith. ) A. Studios: squeezes true independents out; Paramount, fox, MGM, Republic, United Artist’s & Warner Bros. ) Tried to profit from every aspect possible by vertical integration. B. Stars: typecast people; people gravitated to certain actors. Clara Bow â€Å"it† girl C. Formulas III. Scandals A. Fatty Arbuckle, 1921 – c omedian in movies, despicable in real life, a person is killed of a drug overdose at his mansion, he is charged w/2nd degree murder and his movie career is over. B.Mary Pickford & Douglas Fairbanks – she divorces her first husband and married Fairbanks, her movie career was ruined by her growing old. In 1 movie she played 2 characters at the same time. IV. Censorship A. â€Å"Do’s and Don’ts†, 1924 – limited what was shown on the movie screen. B. Hays Commission – Will Hays enforced censorship; sex and violence (shown euphemistically not realistically). Sex sells so nudity was pushed as far as possible to draw bigger crowds. Golden Age of Sports I. Recreational A. Golf – # of courses tripled in the 20’s. Green fees and equipment fees were required to play. . Private-Elites 2. Municipal – Middle Class (W. C. Fields) B. Bowling: Goes back to the Dutch. 1. Duck Pins – 1st form of bowling, usually they were attach ed to saloons. Not for families at first, men usually went and drank. 2. Gentrification – 1920’s bowling teams went from 5 to 40,000 and it was more family oriented and people went to have a good time. C. Baseball Clubs 1. Urban/Industrial – baseball players were factory workers. Sponsored teams, urban and rural would travel to play each other. 2. Rural – people could just travel around looking for a team to join. II.Spectacle A. Golden Age of Baseball 1. Black Sox, 1919 – Chicago white sox accepted money from gamblers to throw the game and lose in the World Series. * Judge Landis – He had power over baseball to enforce rules keeping it fair and just. â€Å"Juiced ball† – after Landis stepped to power he supposedly juiced the ball making it easier to hit homers. (he kept Negros separate from white baseball) 2. Babe Ruth: 22 Yrs. – in the 1920’s he was a home run king. B. College Football 1. The Gate: 50,000 people watched first game. 20million was spent on football by 10million fans.Bowl games were invented after the sport kept growing. 1902 Rose Bowl started. 1935 Sugar Bowl started taking place at Tulane. Univ. of Chicago was a founder of College football and they dropped it bc of the money and how famous football became and not the college itself. 2. Icons: Knut Rockne & â€Å"Gipper† C. Boxing 1. Promoter: Tex Rickand 1. Dempsey vs. Carpienteir – 1921 – this fight drew $1Million 2. Dempsey vs. Tuney, 1926 – Tuney beat Dempsey by dancing around and not allowing Dempsey allowing to get hit. $1. 8 million in revenue 3.Rematch, 1927 â€Å"Long Count† Dempsey didn’t retreat to neutral corner and a long count was then given to Tuney to get up, which he did, danced around and didn’t allow Dempsey to hit him and he ended up winning. III. Sports & Class A. Working Class Baseball B. Elite College Football – designed to be a microcosm of leadership positions. You have to be tough. Expectations to be brave and go all out. * Amateur Ideal – WASP (ethnocentric) * 1910 NCA is formed to minimize the deaths and injuries around football, enforced rules and eliminated certain plays and added pads/helmets. * 1896 Amos Stagg forms the Western Conference. Referred to as â€Å"Ringers† (non-college student playing football). Now they are known as the â€Å"Big 10†. * NFL formed in 1920’s. George Halas was one of the founders. Became an owner, player and coach of the Staley Bears who changed their name to Chicago Bears. These players were working class men and college players. * In 1920’s College All America team played NFL all starts, but stopped in late 20’s bc NFL was getting to good and it was adults vs. kids eventually. IV. College Football Origins A. Anglo-Saxon Ethnocentrisms 1. Social Darwinism, Gilded Age 1. Herbert Baxter Addams – classic trained scholar A. Germ Theor y† – a democratic germ theory the A. S. take with them wherever they go electing their race. Picking your scholars based on merit, i. e. : meritocracy. (Basically being born into a family of power) B. Tacitus, Germania – history of German tribes, a meritocracy. 2. Saxon Warrior Culture – this warrior type leadership establishes college football (choose the best to be display their talent) V. NEW WOMAN â€Å"1920’s† I. Middle & Upper Class A. Club Women – married women who formed women’s clubs (General Federation of Women’s Clubs forms in 1892. There are 500 members and by 1917 there are 1 million women club members.B. Professional 1. Single – (Unmarried) 2. Role Model or Feminist? – not doing this to represent womankind just doing it for their personal reasons. C. Planned Parenthood – Margaret Sanger, middle class woman who tried to prevent unwanted pregnancies. Aimed at working class. This ends u p being effective to the single unmarried women who stay childless and want to keep the job they have. II. Working Class â€Å"Flapper† – These women was flat chested, wore short dress and smoked cigarettes type of bitch. Rough language, went out at night, danced and had fun times. – Aspired to marry up into the middle class. A.Peiss Thesis – working class women establish the working class phenomenon, trying to reform the working class women. Didn’t work to well so they picked up some of the working class ways. B. Middle Class 1. Freud Popularized – for mental health let your proclivities run free, to much repression results in bad symptoms 2. â€Å"Latent Hypocrisy† – Blatantly expressing ideas they don’t practice. Behavior as well as rhetoric that pushed culture. SCOPES TRIAL – trying to do away with Darwinism theory. Became known as the Butler Act. Teaching Darwinism in school was illegal and this passed in 3 s tates, Tennessee being 1.I. Dayton vs. Chattanooga: Wins this trial. Dayton agrees to be put on trial if Dayton members are present at court. II. The Trial A. Judge Raulston: wanted to get publicity from this. B. Prosecution 1. Hicks and Bryan – C. Defense 1. Darrow & Malone, et al – famous lawyers from past cases. Malone is a sophisticate from NY. III. The Argument A. Prosecution – Limit – limit trial to simple Yes/No questions. B. Defense – Expand – expand the case based on speaking the truth and including constitutional exceptions. Against 1st amendment for speaking the truth. 1. â€Å"Greatest Speech† – C. Decision 1.One Expert – Judge allowed 1 expert witness for future appeals D. The Monkey House – referred to Darrow & Malone’s decision to be the one expert that the judge would allow. 1. Cross-examination IV. Verdict A. Trial – John Scopes violated Butler Act and was fined but never had to pay the fine and the verdict was thrown out later down the road. B. Public Opinion – he wins in the court of public opinion, but was convicted in the court of Dayton. Aime Semple MacPherson I. Four Square Gospel – started a gospel in the suburb outside of L. A. church services were new, strange and she conducted herself like a movie star.Became a minor figure in the 1930’s and died in the 40’s. traditionalist who tried to use modern technologies and it backfired. II. Sensual Debauch – III. Scandal Art & Literature, 1920’s I. Lost Generation – so many ppl were killed and it seemed that generation was lost. Referred to as the high culture A. Why so glum? 1. General Cynicism 2. WWI A. Age of Irrationalism – WWI makes no sense. Tactics were irrational, terrorism started and countries were thought to be a bit barbaric. B. All quiet on the western Front, 1929. Eric Remarque – everyone dies 3. Sartre Existentialism â₠¬â€œ brand of philosophy.It means we exist and that’s all there is to life. Everything (religion, politics, etc. ) is all made up. The only lasting society connecting people is fiction. B. Any Joy? 1. Roaring 20’s 2. Behaviorist and psych C. Lit. A. Sinclair Lewis – critically acclaimed. Fits into cynical idea. 1. Main Street, 1920 – is about a woman who is married well and prosperous, but she is unhappy and runs off to a suburban town. 2. Babbitt, 1922- characterization of midwestern life. Became a midlife crisis story and he desired an affair. He was an unhappy individual. B. HL Mencken – refers to middle class as the booshwazee.He falls off the charts and people get ignored of him in 1930’s (pro Nazi) he continues to edit supporting young writers, promoting the next gen of writers. 1. Baltimore Sun D. F. Scott Fitzgerald – novels are glum and cynical. He produced great American literature. Born in 1896, St. Paul, Minnesota and died in 1940. (Alcoholic). He had many failing business’s. I. Bg. & youth A. St. Paul, 1896 B. Princeton > Army – sent to Princeton where he started writing his first book â€Å"this side of paradise†. 1917 joined army. Didn’t return to Princeton just wrote short stories. II. Zelda Sayre – his wife whom he met while training in the army.A. Southern Belle – B. Nervous Breakdown C. Jazz age couple – â€Å"Scott and Zelda† – they were drunk most of their lives, living the high life, appearing to be frivolous, she got sick, was placed in a care facility so Scott could keep writing and then he died of liver disease due to alcoholism. III. Career: * â€Å"Great Gatsby†, 1925 – secures his literary career. Its about Gatsby whose a WWI vet who acquires wealth. In the end Gatsby dies without accomplishing his goals and dreams. Told by a narrator on the outside looking in. About old money and new money. Sad genera tion story that fits into the lost generation era. This Side of Paradise, 1920 – also about the last generation. * Tender is the Night, 1934 – acclaimed and a movie was made out of it. It’s about a touching, loving family and the husband has a nervous breakdown that destroys the family. Drawn from Fitzgerald’s own personal life. * Short Stories – * Hollywood, 1939 – went to Hollywood to earn more money. He was a scriptwriter. Dies here in 1940, the last one he worked on was farewell my lovely. * The Last Tycoon, 1940 – published after his death. About Hollywood producers, scandals from the 1920’s Hollywood tinsel town era. IV. EvaluationErnest Hemingway: Split-Minded I. Bg. 1. Oak Park, 1898 – close to the prairie, spent all his time in the outdoors and skipped school. He worked for a living all the time, had a salary, didn’t just write. 2. Kansas City Star – was a stringer for the paper, trained as a journ alist from ground up, bc hes an outdoorsman his intellectual curiosity draws him to WWI where he drives an ambulance and participates in some attacks. II. WWI A. Italian Front B. â€Å"The Wound† – He was on the front line when a bomb hit his squad and wounded him in the groin area, this wound was thought to have ruined his manhood by others.He convalesces in a Italian hospital and this was the end of his frontline career. Went from here to Toronto Star. III. Paris A. Toronto Star – B. Expatriates – apart of this group, but also critique’s them. C. Serious Writings: – Men w/o Women, 1920 – (cult of masculinity – refers to flight from domesticity, relates back to Daniel Boone) Manly men doing manly things in a manly way, women are not needed. – In Our Time, 1924 – A Farewell to Arms, 1929 The Sun Also Rises, 1926 – People struggling to find relationships due to tough times, not trying to write about â€Å"t he lost generation† but inevitably was.His phrase was â€Å"The earth abides†. IV. War Correspondent A. Spanish/Civil War – 1. For When the Bell Tolls B. WWII V. Noble Prize, 1954 – he received this, but felt this was a mind block afterwards bc he thought all his work had to be up to the standard of winning the prize. A. Existentialism & â€Å"Old Man and the Sea† – existentialism will push you toward adventures but you don’t have to push it toward tragedy. Old man and the sea is about a Cuban going out on a tiny sailboat and catches a sailfish bigger than his boat.On the way back onto the shore he is attacked by sharks who want to eat the dead sailfish, but fails and when he gets to shore the sharks have eaten mostly all the fish, and the Cuban man stumbles back to his shack feeling hes a failure and felt worthless. The townspeople saw the fish bones and thought of the fisherman as a success even though he was asleep when the peop le were viewing this, not knowing what they had thought. VI. â€Å"The Code† – men doing manly things, being a man in a manly way. This is a way men can preserve masculinity in a real way by doing manly things. Charles Lindbergh, 1902 – 1974 I. Bg. biggest hero of the 1920’s for everyone at this time. A. Minnesota + Washington DC – born in Minn. In 1902. Mother name was â€Å"Lands† and her mom was a dentist. Lindbergh family was very rich. Didn’t socialize well and was left out, had few friends, and his dog was his best friend. Always referred to his dog as his best friend. Moved to D. C. to spend time w/his dad and was around congress and politics. II. Tech & Airplanes – A. Univ. of Wisconsin, 1920 – attended the univ. and had an apartment w/his mom off campus. He had bad grades so he and his mom took time away and went on a road trip to Cali. B.Flying 1. Excelsion in Nebraska – Acquires a excelsior motorcyc le and when he got back to Minnesota he traded it for a Jenny Airplane, then flew it to Lambert Field. 2. Lambert Field, St. Louis – huge aviation place. 3. Flying Circuses – traveled with the circus and did airplane acrobatics, made money doing this. (Parachute jumping, airplane walking, and other ways to earn money. ) 4. Army, 1924 – enlisted in Army Air core. Army had best airplanes and he joined so he could fly the best and fastest airplanes. Received Ceremonial General and Army didn’t want Lindbergh in army bc he didn’t fit into the system. . Airmail, 1926 – Lindbergh’s plane crashed 2x and he took the mail with him when he bailed out. Crashed due to flying into bad weather. Got the name â€Å"lucky lindy† bc of this. III. 1927 A. The Accomplishment – he planned to fly across the Atlantic from N. Y. to Paris. Tried to buy a mono winged airplane, was unable to so he contacted Ryan Aircraft in San Diego to buy one fro m them. St. Louis bankers gave him money to buy it as long as their name was on the plane. His planes name was â€Å" Spirit of St. Louis†. He made the trip in about 33 hours, only being about 20 miles off of the destination in Paris.He flew around looking for the field and people heard him and they parked their cars creating a runway with the cars headlights. B. â€Å"Well, we made it† – what Lindbergh has said when he landed and got out of the plane. said â€Å"we† bc he was talking about his him and his plane that made the trip. C. Why such a hero? – Hero bc he made it, survived, worldwide jubilation, became a celebrity, wrote a book called â€Å"we†. Caused Great Depression I. Structuralist II. Monetarist (Rose and Milton Friedman) A. Depression Cycles 1. Runs and stop payments 2. Positive result B. Federal Reserve 1. Benjamin Strong – one of 12 presidents of a fed.Reserve bank. Dominated fed. Reserve systems. Became defacto chair man of the Fed. Reserve banks. Died in 1928. After he died their was squabbling and fighting to become next president overseer. 2. Bank of the U. S. C. F. D. R. Failure 1. Moratorium (temporarily stopping business) – cause a sensation of banking monetarily by shutting them down for a few months. Hoover proposed this but would not establish it until the next president came to office. F. D. R. declines this and wants to come up with his own idea. 1932-33 no bank moratorium happened and this is when banks failed and 14 out of 48 states only had open banks.Great Depression Stats and Conditions I. Business A. US Steal, ex. – Operating at 19. 1% capacity. In 1928 made and sold 60 locomotives and in 1933 they only sold 1. B. Stock Market – stocks dropped to 11% total loss of $74 billion. Money and wealth disappeared. C. Banks – (5,000) D. Bankruptcy – 86,000 businesses declared bankruptcy and many others just shrank. E. G. N. P. (Gross Nat’l Produc t) – 124$ billion in 1928 and 1933 dropped to 41 billion. Economy shrank by over 60%. Started in ’29 and continues to summer of ’33. II. Families A. Wages – 1928 a family of 4 needs $2000 a year to exist.Making less than this you’re poor. In 1932 average family wage is $16. 21 a week making it less than $1000 a year. %60 of families below poverty line. Almost 2/3 of the U. S. population is poor. B. Evictions – people losing their homes and in 1932 273,000 people are evicted, losing their homes. C. Emigration > immigration – more people were leaving the U. S. than people were entering the U. S. D. Unemployment – 15-17 Million people unemployed and 34 million were affected. (Industrial type of family) For agricultural families they had a family size of 7-8, and 11 million were affected.With this combined 1/3 of the U. S. population was unemployed. III. Why No Revolution? Hitler comes to power in the 1930’s in Europe. No revolution in the U. S. A. Guilt – American population blamed themselves, known as the protestant work ethic. (God favors the rich and hard working, you will be successful if you work hard. If you fail its your fault bc the U. S. is land of opportunity. Citizens are inclined to blame themselves during the depression, thinking its God’s punishment for the behavior that went on in the 1920’s. ) Altruistic suicide – Neil Dunkein came up with this.The father/husband thinks that his family will be better without him bc he is a failure and dragging the family down. B. Radical Heritage C. Business Success A. Alfred Butts – created scrabble and became rich B. Howard Johnson – opened up an ice cream shop that became a successful business chain next to movie theatres and became rich C. J. Paul Ghetto – in the oil industry, his industry didn’t go under like most did. He bought up bankrupt oil companies and became a multi billionaire by c onverting oil factories to gas ones. IV. FARMS – 90% in 1770’s to 30% in the 1930’s and less than 2% today. People are migrating off farms.Declining farm commodities is driving people away. A. Prices drop – wheat is 25 cents, oats 10 cents, hogs and beef 2 ? cents per lb. , corn 7 cents a bushel. Costs a $1. 10 to raise a sheep and sell wool and you can only make 1$ back. Prices are not enough to be sufficient. No profit to be made. Drought comes upon farmers in the 30’s and makes it worse. B. Dust Bowl – refers to a geographic area out in the Oklahoma & Texas panhandle, parts of Kansas and New Mexico. Oklahoma got the image as being from the dust bowl. Long-term thing that pushed people of their land and went out west looking for jobs. Outsiders called those people â€Å"Okies†.V. The Dole – refers to private charity in place when unemployment hits. A. Local Relief – $5. 50 a week from charity a week, 286$ a year in Philly. NY is $2. 37 a week, 123$ a year & Mississippi is $1. 50 a week, 178$ a year. You have to be completely broke (no relatives to live with, no home, no job and if you accept this your kids cant go to school bc your not paying taxes since you have no property bc people pay taxes to support schools). B. Stigma VI. Middle Class Impact A. Psych Burden – Falls on the women, creating a return to domesticity. Returns to wife and mother stayiat home doing housework. B.Street Smarts – finding ways to save money (dine and dash, repairing your shoes on your own instead of buying new ones if falling apart, reusing bed sheets, filling up on as much food for as little as possible) VII. Changing US Attitudes A. Business status decreases B. Family Structure 1. â€Å"Holding their own† –Women holding their own as the domesticity returns. C. Federal Status/Image- only federal action can cure the situation. Acceptance of federal presence in everyone’s live s (G-men come about, FBI ^) D. Changing U. S. Appearance – pollution declines, water and air is cleaner, traffic is less, petty crimes increase.Movies increase as well as gas production. Okie migration, black farmers are leaving the farms in the south. Herbert Hoover – 1874-1964 I. Beginning: 19th century traditionalist A. In 1895 he had 40$, invested it and in 1908 had $4million B. Youth: he was orphaned off from Iowa he went to Oregon at age 7. C. Stanford – B. S. 1895 1. Elected class treasurer, ran for office 2x and won both. Graduated with a B. S. in Geology. D. Hard rock miner – mining through granite, igneous rock, rocks that require blasting and you go 1,000s of feet underground. 1. Nevada: 1895-97 – worked here in the silver boom-mining period.Lost his job when the rush was over, so he didn’t give u, he went to Alaska unemployed. 2. Alaska Gold Rush: 1897 A. Afghan Mine – closed abandoned mine. Hoover investigated and using h is geology skills he found that their was more gold to be found. Goes around and raises 500,000$ to onstruct a deep rock mine. He was successful and they dug out $55 million worth of gold and the investors got a 10$ million dollar profit. With this success he became a mining consultant. 3. Consultant – he became a mining consultant; going around helping mine companies dig in mines and be more successful and sufficient.E. World Travels 1. Boxer Rebellion 1900 –Boxers were rebelling the Chinese emperor about the European influence. Hoover was in Peking China with his wife and saved innocent victims from a burning building. 2. WWI – too old to fight, but is helping out with distributing American soldiers on the line. Serves on Commission of Relief, distributing relief to soldiers throughout the war. Food Admin was set up and it wasn’t doing very well so Hoover was appointed to this administration making it work terming it Hooverizing the administration due t o the success with him in charge. F. Sec. f Commerce – Harding was elected Hoover became Sec. of Commerce. II. Hoover and depression A. President, 1928-32, 29-33 – B. Causes of Depression – Stock market crashed in ’29, Hoover believed not to do anything thinking it would weed out the inefficient and the country will just ride it out. He believes the problems are external rooting from WWI debts such as war debts and reparation, thinking the European weakness was dragging us down. During the depression he was encouraging everyone, keeping businesses open, not striking or firing employees, but he was becoming aware this was doing nothing significant. C. Policy 1.Inaction – did nothing to help the economy until he realized the economy wouldn’t recover itself. 2. Action – By 1929 he enacted a Tax cut on the Ag. Market known as Ag. Marketing Act. This was enactive so the fed came up with $5mil for Ag farmers to purchase excess farm material and store them until the commodity price rose and they could sell it back off. This was ineffective in 1929 as well. Smoot Hawley Tariff was created raising tariff from 50 to 100% meant to be a wall protecting the American economy from the weak European economy. He then enacted a 1 year free of paying off loan payments from the European countries to the U.S. this did not work either. III. Bonus Army, 1932 : Hoover in 1932 enacted the Recon. Finance Corp. – meant to give large corporations 2. 5$ billion in loans in the states to do corporate work hiring workers, making the money trickle down. Doesn’t work either. Doesn’t work. Home Loan Bank Act in 1932 was created loaning money to banks so people could keep their houses, renegotiating mortgage rates and avoid foreclosure. The breathing space of a few months did not stall the foreclosure rates, just stalled it, bc if people still were unemployed they couldn’t pay the banks. Stipulations given to WWI veter ans. A.WWI Adjusted (compensation certificates, 1924) B. Walter â€Å"Hot† Waters – gave fiery speeches at govt. advocating that payments to veterans be paid now not wait unitl the 1940’s. Characterized as leader of the veteran movement. Wanted a march on Washington bc Hoover vetoed this bill allowing vets to be paid early. C. Congress vs. Hoover D. American Legion – veteran organization, they opposed early payment; do not support bonus march on Washington. They support Hoover and his veto of early payments. E. Bonus March, summer 1932 – veterans were mostly homeless, they hopped on trains and hitchhiked and there were in-between 10-20,000 appear in D.C. They flocked to Potomac flats and set up shanty towns/boxes for housing. Requires a structured living quarters. I. Anacostia Flats – some of these veterans move into rundown buildings and factories. When the police tried to remove them they threw bricks and stuff to ward off the cops. 1. Hoo ver image vs. Reality – he was considered to be unsympathetic and hard nosed. 2. Gen. D. MacArthur – Helped assist the Washington police to remove veterans from the buildings w/army warfare and they destroyed the buildings and encampments as well. Looked scary and really bad on the live newsfeed that captured it.Hoover did not order this, MacArthur did this on his own. Hoover criticized MacArthur in private voicing his displeasures. II. Hoover Reviled – Reviled bc his image was him ordering the veterans to me killed and removed when in fact this was not true. Hoover blankets (sleeping on benches covered with newspapers), hoovervilles (living quarters made out of cardboard shacks), and hoover hog (whatever edible food you could find and make or eat) was named while he was president. Last stint as a huge public icon. A. Pop Culture B. Election C. Rehabilitation, 1950 and 60 FDR & New DealsI. FDR – Most dominant political figure in American history, elec ted 4 straight times. He felt it was appropriate and just the fact that he could get elected tells how powerful and influential he was. A. Beginning and youth. He was distant cousin of Theodore Roosevelt. Heritage went back to a wealthy English family that was luxurious and didn’t have to work bc the family had millions. Grew up in the rich community, but he was hard working man who went to a private academy and attended Harvard. Worked as Police Commissioner in NY and served as assistant secretary of the navy.B. Polio, 1921 – attacks fluid in spinal column and kills nerves, paralyzing hips, knees and legs. If moved to you’re diaphragm then you had the aggressive type. Roosevelt had non-aggressive and was paralyzed from the waist down. He caught this when on vacation while on a party boat that housed a dozen or so people. Swimming back to the boat caught his polio after he swam from an island. Without polio he supposedly would not have the same success he would without it. People that voted for him knew he had polio. II. 1932 Election A. Gov. of NY B.New Deal – provide people with a do over, that would rescue the country from the depression. C. Brain Trust – old progressive idea. Means he relies on expert knowledge. Hiring people in fields that are the smartest, president doesn’t know everything of every field. These people were his Brain Trust’s listed below. They were the ones advising him on what decisions to make. He would make final decision of their arguments on certain topics. A. Ray Moley – â€Å"the mole† pro business, wrote some of early speeches for FDR. B. Louie Howe – FDR’s oldest friend. Helped him with rehab and stayed by his side.Grounding to reality type of person to keep him intact with reality. C. Jim Farley – liaison between White House and Democrats. D. Harry Hopkins – Became the face of the New Deal. Head of WPA. E. Rexford Tugwell – Head of TPA. Economics professor at Columbia Univ. III. 1st 100 Days, 1st New Deal – outpouring of legislation. 14 major pieces of legislation were passed. This means congress passed legislation that were not finalized, they were outlined, congress passed them and president Roosevelt ok’ed them. A. First inaugural – the only thing we have to fear is fear itself. Pep talk to not get people depressed. B. FDR StyleA. Pragmatist – mot tied to any ideology, makes decisions based on certain instances. He calls himself this, not publicly, but he thinks of himself as a political quarterback. Make radical ideas until the economy is back to par, and then he will become conservative. B. Final Arbiter – he had the final say so in the cabinet and if you didn’t agree you got out. C. Genius? Yes and No. Wasn’t always the brightest, he was a second class student, but confident in the ideas and philosophies he did have. 1. Intellect 2. Empathy and charisma â €“ people liked him bc he had this, just something that came naturally. D. Use of Media – 1.Fireside Chats – people listed to his speeches by the fire, communicating directly to people in their living rooms. Big power that he used to his advantage. 2. 16 Friends – FDR controlled the press, most of these were paper editors. He used these informal friends to write stories, shave stories for the better and not tell some stories in their papers. 3. Govt. Shorts – refers to short films, promoting various govt. programs. â€Å"The Plow that Broke the Plains† and â€Å"The River†. Appeared in the movie theatres that were in-between movie films. IV. Eleanor’s Role – FDR’s wife. Allowed herself to be used by her husband for political purposes.If he was unsure about an idea how it would play with the public, he would have his wife propose the issue, looking like she would give them the idea, and the President and cabinet membe rs would wait for the press to respond and see how they took the news to know if it would be a good idea. Helped insulate her husband from political fallout when necessary. V. 1st 100 days & 1st New Deal A. Cabinet 1. Henry Wallace 2. Harold Ickes 3. Frances Perkins –1st female cabinet member, lawyer by training. 4. Harry Hopkins B. Legislation 1. Banking Crisis – over 5,000 banks closed and people that had money in them lost it all.A. Bank holiday – declared bank holiday over fireside chats closing all banks for 1-2 weeks. Designed to make the public be less panicky. B. Banking Act – Gives President authority to close the banks. Takes U. S. off gold standard. Paper money no longer tied to amount of gold in federal repository. C. Glass-Steagle Act – June of 1933, reform legislation. Separates commercial and investment banking. Establishes FDIC, still in place today. 1. FDIC – Federal Deposit Insurance Corporation. $5,000 limit at the tim e. 2. National Industrial Recovery Act – 1st solution to recover the industrial industry.Created NRA (National Recovery Administration). A. NRA & Blue Eagle – symbols of politics B. Public works: PWA – NRA oversaw this. $3 Billion went to support PWA projects, paid %40-60, which was labor costs. C. Codes of Fair Competition 1. Title 1, Section 7A 3. Agricultural Adjustment Act A. Goals B. Actions – encouraged farmers to destroy livestock and crops. 1. Short Term – 2. Long term – Estab. program of subsidy to farmers to limit them on their crop growth C. Criticism – burning of crops and killing livestock b/c people are on the streets starving at the time. If you’re going to subsidize farmers farm everyone else.D. Success – stops downward spiral of overproduction. 4. Civilian Conservation Corps A. Goals – Create jobs for youth men – Employs some 300,000 men, segregated B. Program – employ males in t he age range of 18-25 that are married and jobless. 30$ monthly. Doing natural resource work (fighting fires, building buildings, fixing up communities, conservation type work). C. Criticism- CCC men are referred to as Military Brown Shirts. This is compared to things going on in Germany. People assert this to Roosevelt’s private army. D. Success – did a 180-degree swing and became very successful based on the pics.Becomes one of the most popular ideas out of the New Deal. 5. Tennessee Valley Authority A. Goals B. Accomplished C. Criticism D. Success New Deals I. Evaluations: A. Relief: Roosevelt credited w/preserving American democratic institutions. B. Recover: Considered to be a failure. WWII solved the depression not the reforms. C. Reform: put into place regulations, preserving prosperity. Insufficient reforms or to many reforms had be pulled back and repealed? Women and Great Depression I. Family status: A. Marriage: rates decline. Put on hold b/c of uncertainty of the future. B.Divorce: rates decline. Increased in the 1920’s, but collapsed in the 30’s due to having to separate and having a lack of opportunities outside of marriage. C. Births: declining rates. II. Ag Women: A. Rates are down: Ag families having 5-6 kids per family are becoming less. B. Rural Electrification – electricity to the farms were beneficial and helped even during the depression. 1935 1-10 Farms have electricity. 1941 4-10 farms have electricity. III. Working women: A. 1930 Census: 11 million women working constitute 24% of female population and are 22% of all workers at the time. B. 940 Census: 13 million women working constitute 25% of the female population and are 25% of all the workers at the time. IV. Gender Roles and Feminism A. Domesticity is up – the word feminism changes in its connotation. B. Role Models: 1. Feminist’s – Eleanor has an all female staff, gaining training in political world. 2. Traditional – s erving her husband as first lady. Women in sports represented the new woman in the 1920’s. In the 30’s you had to be beautiful and have female qualities if you wanted to be an athlete. All women were expected to be attractive. Depression Hollywood I.Stats – 60-80 movies a week and 500 a year. 1930’s attendance was 10 million. Quarter for adult and 10 cents for a kid. In between movies you saw cartoon, govt. short or other reels. II. Studios: MGM, 20th Century Fox, Paramount, Warner Bros. and RKO are the only studios that survived. Continue in vertical integration and wanted to control everything, working out deals to make profits and show movies in each other’s studios. A. Formula Evolution III. Cynicism in 1934: Hollywood is pushing censorships. IV. Censorship Est. : A. Production Code, 1930 – sometimes called the 10 commandments for movies of what they can and cant do.Violence is euphemistic, human relationships are moderated. B. Movies 19 31-33: by this time the producers are violating their own codes. Brief depictions of female nudity. Scandalous and boycotting are becoming threatening. Uproar is so great that Hollywood takes action, thinking htat if audience wont come then they finally stop with this and hire joseph Breen to view and censor movies from 1934 on. C. Joseph Breen: looks at scripts and tears out the parts that can’t be portrayed. (You can say pregnant in movies, so you say a woman is expecting.You can’t show a woman and man in bed unless one of them has a foot on the floor even if married. Hetero-social circumstances disappear due to the thought of scaring the audience away and losing money. ) Dance/musicals are the only way a man and woman can be embracing and moving in the 1960’s. V. Up Beat A. Hollywood 1934 – IV. Women’s Roles A. Light and Dark – means virtuous woman (light woman) and she always gets the guy at the end. The dark woman (licentious woman) who goes after the guy and gets him for a moment eventually comes to a bad head and he goes to get the light woman.

Criminal profiling Research Paper Example | Topics and Well Written Essays - 2250 words

Criminal profiling - Research Paper Example Offender Profiling Criminal Profiling or Offender Profiling is the method that is utilized as a tool to locate or predict the profile and characteristics of an unknown criminal offender. In different regions of the world, criminal profiling is considered by different names like, criminal personality profiling, criminological profiling, behavioral profiling or criminal investigative analysis. As far as geographical profiling is concerned, it is a different method of profiling an offender. In the year 1990, 2005 and 2011, a number of television serials and films like â€Å"Criminal Minds† and a film entitled â€Å"The Silence of the Lambs† have introduced many names, which according to FBI version, highlights the salient features of "criminal investigative analysis." Here we cite, Holmes and Holmes, which indicates three main objectives of criminal profiling. Initially it is to provide complete information about law enforcers along with a social and psychological analytical background of the offenders (other serial killers) that would be helpful for the police who needs help in the investigations (Holmes and Holmes 139). Amongst many kinds of criminal profiling, one is called linkage analysis. Gerard N. Labuschagne, a well known profiler has connected his analysis on the behavioral attitude of the offender, which plays an important role in detecting or determining the possibility of crimes that have been committed by one or more offenders. Gathering many evidences relating to offender’s crime style such as modalities of committing crimes and the signature of the offenders will be of great help to establish an essence for a linkage analysis. An offender’s modality is the tendency of killing victims. An offender’s signature, if found similar in each killing, may be helpful for the investigator to trace the actual culprit. It is worth mentioning that the linkage analysis is effectively utilized in a case or cases where the DNA test facility is not available (Labuschagne 186). Labuschagne, who can be stated as a profiler of repute is of the view that in gathering and looking at the a spects of the offender’s crime pattern, investigators must take into account five procedural assessment a) gather data from multiple channels b) review available data to pin point prominent features of each crime c) categorize the significant features d) compiling a written report that identifies the findings (Labuschagne 189). Historical background In the case of â€Å"ordinary† criminals, straight forward process, involving all relevant indications and establishing a rational objective for the crime, which most often helps lead to the actual perpetrators, is adopted. Apparently, it may be objectless crime, if it comparatively presents difficult and complex conundrum. It is true that an investigator cannot find a clue of a criminal until and unless concrete evidence is there to connect with him with the crime (Sillup 2010). Describing cited subjects is nothing but criminal profiling. Criminal profiling is an art of tracking down the real perpetrator rather than scienc e. It is based on careful observation of physical evidence of a crime

Quantitative Methods and Analysis Essay Example | Topics and Well Written Essays - 750 words - 1

Quantitative Methods and Analysis - Essay Example Particular demographic information includes employees’ gender, age group, department, position, and length of tenure with the company. Job satisfaction and satisfaction with the benefits received are measured using a Likert-type scale from 1 to 7, with 1 representing a â€Å"Least Satisfied† measure while 7 represents a â€Å"Most Satisfied† measure. Employee gender is either male or female; age group was divided into three, with those belonging to age 16 to 21, 22 to 49, and 50 to 65. Employees were classified according to three possible departments: Human Resources, Information Technology, and Administration; they were classified as either hourly employees who were eligible for overtime pay, or salaried employees who were not eligible for overtime pay. Their tenure with the company was also noted in the database and subdivided into three levels: less than two years, 2 to 5 years, and more than 5 years. In today’s day and age, statistics finds more and mo re uses in the workplace. For example, statistics is used to find the demographic distribution of employees in the workplace (Black, 2010). Those working in the Quality Control department use statistics to determine the products that are of good enough quality to be distributed to the market. Managers use statistics to determine employee performance and operational costs and values. Employees use statistics to keep track of their performance level too, knowing very well that such figures may mean the difference between promotion and service termination (Anderson, Sweeney, & Williams, 2009). Any organization that uses appropriate and correctly interpreted statistics will truly benefit in providing a more scientific venue for their decision making needs. With the use of statistics, problems may be identified early on, and corrected as necessary (Rubin, 2009). Moreover, statistics also provides evidence and actual proof of where an organization may focus its resources, whether in the f orm of physical or human capital. As the rest of this report will illustrate, statistics may be used to determine the thoughts and feelings of an organization’s members. This is very crucial because human resource and the satisfaction and proper treatment of employees should be a major concern for any organization (Cook, 2008). In placing the focus on the information provided by the database, it was found that 61% of the surveyed employees were male and 39% were female. These figures indicate that while females have long been in the employed sector, employees are still predominantly male. Among male employees, 54% have been with the company less than two years, 32% have been with the company between two to five years, and 14% have been with the company more than five years. Among female employees, 21% have been with the company less than two years, 58% have been with the company between two to five years, and 21% have been with the company more than five years. These statisti cs show that female employees are more loyal career-wise because they tend to stay with their company for a longer period of time. When it comes to extrinsic job satisfaction, males and female tend to be similarly satisfied with a mean value of 5.4 for both genders. This value seems to translate to overall job satisfaction as there is a 41% chance that an employee’s overall job satisfaction level is at least 5.2. When classified according to department, majority of the employees were in

How IELTS Scott's English Success App has impacted my major's industry Research Paper

How IELTS Scott's English Success App has impacted my major's industry as an english teacher - Research Paper Example wards the more tech-savvy teachers and learners over the non technical individuals as well as increased vulnerability of the English teaching process to technical difficulties. Scott’s English for Success is an application launched by Mascot Corporation Pty Ltd in 2005 to assist in the teaching of English and preparation of students for the International English Language Testing System (IELTS) test, one of the two most popular English language tests in the world with the other one being TOEFIL. Generally, IELTS is normally required by Educational institutions, professional registration bodies, employers and government agencies in many countries as a proof of English language skills. The IELTS â€Å"Scotts English Success† interactive online application has not only assisted tens of thousands of students every year to achieve IELTS success but also significantly impacted on my current majors industry as an English teacher through its rich online capabilities and quality academic and educational materials (Scottsenglish.com, 2014). One of the potential major impacts of Scotts English Success application on the English teaching industry is that it has made teaching English more interesting than previously imagined. This is particularly because the online application gives the learners and Students of English language a significant role in the learning process as compared to the conventional methods of teaching English language that are often largely teacher centered(concentrating about the teacher more than the students). For example, apart from working just like a real class room, IELTS Scotts English Success online website also provides an interactive platform complete with videos and quality academic and educational materials that enable students to be engaged throughout the learning process. In addition, the use of Scotts English Success application also ensures an asynchronous learning process that is self paced based on the individual needs of the students.

Systems Analysis & Design Assignment Essay Example | Topics and Well Written Essays - 2500 words

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Evaluation of CI analytical software (Cipher and Traction software) Research Paper

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Theatre history Essay Example | Topics and Well Written Essays - 1250 words

Theatre history - Essay Example One of these elevated stages will represent Olivia’s house and will be found at the upper right side of the arena. The lower stage, a foot lower from the other, represents the front of her house. At the extreme right of the lower stage looks like an alley where characters enters and the other end where they exit. Lights flood the stage as each character enters and delivers his or her lines. We see gothic designs in the facades (I suggest that it would be a minimalist stage, perhaps columns to represent the foundations of Olivia’s house and steps that lead to the front of her house). A tree or two (short-growing trees or shrubs, may be placed at one or opposite ends of opposite sides of the road, perhaps some props resembling a hawthorn tree, with apple-shaped, bright red resemblance of its fruit hanging on its branches). Most likely, this part of the play will take place later in the evening, perhaps a little after dinner time, that we will observe characters in the play are like having their relaxing time, in one of the dialogues Olivia reveals that she and Sebastian (mistaken as his twin Viola, who will disguise herself as Cesario) have just been married a couple of hours ago, and Toby will later be seen already drunk. Colorful medieval costumes that are common during the Elizabethan and the Renaissance theatre will be seen worn by the actors, except for Malvolio who should be wearing all black which is evocative of his character’s mood throughout the play. Music is an element predominantly present throughout the play; it is through music that the love of Orsino is magnified, the irony as well as comedy is amplified in the portrayals of Feste, Malvolio and his tricksters, and in the drunkenness and merriment of Sir Toby Belch. Music, as one of the underlying themes of the play suggests the comic as well as the tragic episodes or scenes in the play. Fast music is played every now and then, which becomes louder when a climactic episode is

Film Study - Essay Example | Topics and Well Written Essays - 750 words

Film Study - - Essay Example His interaction with the world will lay basis of the analysis and will portray interpersonal communication ability of the actors. The events in Hunting’s life indicate how childhood exposure may affect interactions between individuals. The mother son relation between Hunting and his mother indicates the nature at which he perceives persons of the opposite sex hence affecting his relationship with Skylar. This concept is also visible when Hunting attacks on a man who wronged him during his childhood life. The concept can be replicated in an organization setup where conflict resolution and consultation becomes important when averting a recurrence of a negative event. The ability to communicate becomes effective once a person uses it to solve complex issues. The complex nature of communication provides avenues in which individuals may approach a conflict. In Will’s situation, alternative avenues are provided for him hence behavioral therapy advised rather than years in solitaire. Hunting displays traits that result to conflict hence demining the essence of interpersonal communication. The negative emotions that Hunting displays towards a man who once assaulted him and the police officer indicate the nature in which negative emotions may escalate into a conflict and that it may affect relations between two individual. The motive of Will Hunting is to seek revenge thus ignoring the essence of dialogue and consultation as a means of resolving conflicts. Communication is a vital tool while discovering mistakes and indicating ways in which individual may journey themselves towards change. The willingness to change is evident once Hunting begins his therapy recommended to him by the professor at the Massachusetts Institute of Technology. The therapy sessions are aimed at providing Hunting with an insight on behavioral change hence acting as a tool of conflict resolution. The therapy allows will to rediscover himself through a second

Disc 13 Essay Example | Topics and Well Written Essays - 250 words

Disc 13 - Essay Example This results to; blaming religion rather than learning about it, not knowing our own religious traditions and substituting choice for cohesion. (Levine paragraph1). In Middle East, India and Asia, women are oppressed and marginalized. A contrast to what many of them see themselves as honored by their tradition as they honor it. The headscarf is a sign of personal modesty and religious identity though it may be considered as a limitation to choice. As for sitting behind the mechitza, this is discrimination but for them it’s a great place to find women’s solidarity. Even though this is discrimination and marginalization, the women of this region are proud of their religious tradition. In conclusion, the article is informative and fair. The author points out different religious practices and explains their strengths and even some traditions which may be considered out dated without creating animosity among the affected. (Levine

Importance of Advance Directives Essay Example for Free

Importance of Advance Directives Essay The Importance of Advance Directives Tara J. DiDonato Axia College of University of Phoenix The Importance of Advance Directives While most people do not speak about end of life issues either because of their background or religion, it is not only for the elderly, we should all make our wishes known. According to the Pew Research Center, (January 2006), â€Å"42% of  Americans have had a friend or relative  suffer from a terminal illness or coma in the last five years and  for a majority of these people , the issue of withholding life sustaining treatment came up†. Although many people feel it is taboo, all adults over the age of 18 should think about what their healthcare wishes would be if they could not speak for themselves. These wishes should be documented in an advance directive, so that loved ones know what they are. Power of Communication According to the Mayo Clinic (2005), â€Å"The issues surrounding serious illness and death are not easy to discuss. Decisions are much easier on our loved ones if we have an advance directive in place before we are faced with a serious illness or accident†. Without communicating our wishes, we might find ourselves in a condition that we are unable to communicate the medical treatment we wish to receive, such as resuscitation or life support. Having a conversation with loved ones is important to clarify medical wishes. We should explain our wishes and explain how our values have shaped our decision. Types of Advance Directives According to the Mayo Clinic (2005), â€Å"Advance Directives are written instructions regarding your medical care preferences†. There are various types of advance directives, such as; a Living Will, Durable Power of Attorney, Healthcare Proxy and Do Not Resuscitate Order (DNR). Durable power of attorney and living wills have limitations, they do not include instructions for every situation, which means that we need to trust that the person we have named will make the decisions which are in our best interest and are what we would have wanted. A DNR order is a form that is commonly discussed with a physician. A DNR order alerts physicians and emergency medical personnel that if a patient’s heart stops beating or if the patient stops breathing, there should be no attempts to revive them. Another advance directive is a Healthcare Proxy (HCP). This document allows patients to choose an agent to act on their behalf if they are temporarily or permanently unable to make healthcare decisions on their own. According to Fell, Kukula and Taylor (2005), as with other advance directives, â€Å"it is very important to discuss, in detail, all of your wishes with your surrogate and make sure they clearly understand and are willing to make these decisions on your behalf† (p. 4). Everyone should have a voice, not just the elderly Advance directives are not just for the elderly, anyone over the age of 18 should have one. Unexpected situations can arise at any age and there might be end of life decisions that needs to be made. In the event that a person does not have an advance directive in place, according to Fell, et al. (2005), â€Å"you will receive medical care to the fullest extent appropriate for your condition†. Without an advance directive the patient might receive more treatment than he or she would have wanted. The biggest misconception about an advance directive is that people think that having one means â€Å"do not treat†, this is incorrect. Frequently used medical terms

Strategies Of Internationalization In Hospitality Industry Tourism Essay

Strategies Of Internationalization In Hospitality Industry Tourism Essay Introduction to the Hospitality Industry The hospitality industry consists of wide category of fields within the service industry that includes lodging, restaurants, event planning, theme parks, transportation and tourism industry. The hospitality industry is a several billion dollar industry that mostly depends on the availability of leisure time and disposable income. A hospitality unit such as a restaurant, hotel, or even an enjoyment park consists of multiple groups such as facility maintenance, direct operations (servers, housekeepers, porters, kitchen workers, etc.), management, marketing, and human resources. The hospitality industry covers a wide range of organizations offering food service and accommodation. The industry is divided into sectors according to the skill-sets required for the work involved. Sectors include accommodation, food and beverage, meeting and events, gaming, entertainment and recreation, tourism services, and visitor information. Hospitality industries that profitably cater to the needs of customers better than the competition are more likely able to sustain competitive advantage over time.   Catering to customer needs is dominant to delivering desirable levels of customer satisfaction in the tourism industry.   The formula for executing this task is particularly fragile in tourism because of the heterogeneous and simultaneous nature of service production and consumption.   Tourism experiences are rarely, if ever, delivered without in-depth employee-customer interactions.   Thus, tourism experiences are people-intensive on both sides of the service fence.   Additionally, tourists tend to have higher expectations for hospitality and overall levels of service quality because their context is typically more emotionally charged.   An empowered workforce is a secret to success in these unique area employees who are inspired and enabled to make meaningful and suitable decisions close to customers in order to take care of important customer needs.   Internationalization is described as the process of expanding firm activities beyond the borders of its domestic markets. Historically, the primary motivation for internationalization among firms was the need to become more efficient. Efficiency in the context of the post-industrial revolution era is achieved when a firm becomes larger and thus generates economies of scale. Many firms searched for and found attractive markets in countries with higher market growth rates, developing consumer consumption, and growing discretionary income. Strategies of internationalization in hospitality industry There are several strategies of internationalization to gain more customer satisfaction n with effectively and efficiently. The development of computer technology, communication technology, and new means of transportation all served as vital enabling forces to internationalization. Today, internationalization has become one of the key concern of firms As barriers to international trade fall down in many parts of the world, managers become aware of new opportunities in an ever-changing global environment. For example, a uniform currency (the euro) is gaining a leading position within the European market, Eastern European markets are developing rapidly, Asian markets are opening to the world, and the world business population has reached the General Agreement on Tariffs and Trade (GATT). International firms that consider all the elements in the geographic destination develop different strategies for each geographical market, each specially tailored for the specific market. Eg: In the area of express delivery services, Federal Express (FedEx) dominates the market in the Americas, yet in other markets, such as Europe, FedEx is not successful, and the market is dominated by DHL. Franchising agreements in which a franchiser grants a licensed privilege to a franchisee to do business. This may include permission to use a brand name, products, operating systems, central reservation systems, and more. Franchising is used by Hilton International as a component of its international strategy Management contracts in which management is separated from ownership, where a company can contract the management of its overseas operation to a management team in return for a fee. For a example: Sodehxo is one of the examples of a management contract company in the industry. Strategic alliances in which a connection or a partnership forms between two or more companies that can assistance from greater market coverage, economies of scope or scale, enlarged visibility for the brand name or minimized capital investment. One such example is the strategic alliance between Accor and the Japanese Hokke Group Joint venture, in which the multinational firm provides a partial equity stake to local businesses in order to secure their commitment to the agreement. Accor is actively involved in joint ventures in different Asian markets such as Korea, Vietnam, and Malaysia. Call Center Service Recovery means Telephone based customer service is the largest customer services channel in both North America, and Europe (The Editors 2007).   Call centers customer service volume is higher than electronic mail support service.Despite this lack of acknowledgement from call centers, there is a gap between the service provided and customer expectations. The Green strategy means industry perceptions and perspectives as a new market -driven business focus for gaining competitive advantages.All businesses no matter how benign or smart their operations are create some level of environmental harm. These impacts can be minimized or controlled by a adopting a well articulated firm-level green strategy. This require to green should not just be to address companywide environmental challenge but also a proactive strategy to stay on the right side of the regulation and for profitability. Issues and impacts of internationalization on hospitality industry Issues and impacts bring together the latest developments in international hospitality operations with the current management principles. It provides a truly international viewpoint on the hospitality and tourism industries and provides a fresh insight into hospitality and tourism management. Internationalization is a major trend for todays organizations. The services sector is also unquestionably becoming increasingly international in scope. A rapid Internationalization of world economy during the 1990s has increased the opportunities to export services and services are now the fastest growing part of international trade. Accelerated by their desire for growth and profit, incentives provided by the host governments, and a freer flow of capital throughout the world, hospitality organizations have discovered that their future survival and growth depend upon extending their services around the world. The hospitality industry is thus at the very core of international business. Hospitality companies therefore need to consider the implications of the global context in which they drive and must be prepared to address the questions that occur from this rapid changing environment. The Internationalization of business and lifestyles is characterized by communicating over huge distances in foreign languages, frequent travel to overseas countries, dealing in many currencies, and coping with a range of political and social systems, regulatory environments, cultures and customs. While these aspects of Internationalization of are easy to identify, understanding the underlying current and future trends can be analysis, however, reveals that a number of issues are reshaping the Internationalization hospitality industry, although there are clearly some complex questions that are still to be resolved: International spreading out with general product and brand position; Sales and marketing programs that fully capture global economies of scale; Organizational structures that tolerate delivery of services with local operational control; Cross-border employee training to support operations; and Use of the world capital markets as sources of funding. The Positive Impacts of Internationalization on the hospitality industry; 1. Exposure to different cultures: Due to the internationalization of the managers of hospitality industry, they would be able to gain knowledge of different cultures, as they get to fuse with people from different walks of life and thus, enhance their awareness. 2. Larger Market: Due to internationalization, the customer base has enlarged greatly. People travel not only for holidays, but business, health and various other purposes too. Thus, this has increased the market for the hospitality industry, which gets their major income from these international visitors. 3. Boosts the economy: As visitors come in and spend money it effects to the foreign exchange of the country and it gets increase. Thus it is of great value to the economy as internationalization helps to pump in money into the country. 4. Technology Advancement: Since one needs to attract as many tourists as possible, hospitality organizations frequently need to upgrade and improve their products and services. Example: Singapore Flyer, using faster and newer technology in hotels to so that the customer is satisfied. 5. Promotes Creativity: Organizations are continuously thinking of new and innovative ideas to draw more tourists. 6. More Job Opportunities: Due to internationalization, more visitors come into the country and thus more people will be required to serve and cater to their needs. So, with the arrival of internationalization, there are lot of more jobs opportunities for people within the areas which hospitality industries are located. 7. Boosts the Travel Industry: Due to internationalization more people travel around the countries. To facilitate this, the tours and travels industry require to develop as well. People who come into the country by air, ship or land, will use the transport services obtainable as well. 8. Variety of International Services / Cuisines: Since there are lot of diverse visitors from various cultures, traditions, cuisines, and languages, the hospitality industry includes recipes and various other services to cater to them. These services will be available to the locals too, which makes it even better. The negative impacts of internationalization on the hospitality industry; Language Barriers: Due to internationalization, the hospitality Industry can make use of people from different countries as it is usually cheaper. They may sometimes have troubles in communicating with the customers. Many customers get quite incensed as a result of this. Cultural Barriers: As there are people from a mixture of cultures, one needs to be watchful not to offend them. For Example, a muslim will not eat pork one needs to make sure not serve food which contains pork. (Unless specifically asked). Whats acceptable by one culture may be frowned upon by another. Events/Disasters in other Countries: A disaster or incident taking place in one country may affect to the country (the home country) also. For example, the financial crisis makes less people want to spend money or travel; due to increase in terrorism some visitors get are not ready to travel to certain countries. Seasonal Employment: During climax periods, a lot of jobs are available in some industries, but as soon as the tourists go back to their countries, the jobs get disappeared as well. For example: Goa India; the locals in Goa get their revenue only during the climax season, (Dec- Feb and April July) In other seasons, they have no jobs and no earnings. Growth of the Communication Technology: Due to international barriers, there has been a constant growth in the use of technology for communication (through the internet, voice recordings). This removes the human touch. Developing Countries: Countries that are unable to keep up with the advancement in technology tend to lose out. Example: Africa does not have the infrastructure or technology as yet to welcome a large amount of foreign visitors, though it does have a lot of natural attractions. To increase the flow, it would have to improve conditions; otherwise tourists have a vast sea of areas to choose from. Increase in Crime Rate: With the increase in tourists, crimes increase too. Example: pick-pocketing, hustling, rape, smuggling. Bad Habits: People from other countries sometimes influence the local youth in a bad way. Increase in drugs and promiscuous behavior, etc Integration of the hospitality industry To offer a better customer service and keep loyal client come back todays hospitality industry require integration system. Thereby they can maintain their controls and improve their business. To have a smooth running integration system can aid organizations with a sustainable competitive advantage by improving product quality and service while reducing cost. Good performance and a high-quality, sustainable product can also help a company to reduce the risk of conflict or problems with suppliers, governments, staff and local communities, and improve its status as a respected partner in destinations. This may mean enhanced access to key business resources such as capital, the ability to develop products to meet growing market demand, improved relationships with governments, and a motivated and loyal staff. Eg: The computer software is a combination of various modules, which cater to the various aspects of hotel management. It including with hotel staff management, hotel reservation and hotel accounting are taken care of by the different modules in a single software unit. Many software companies have gathered more areas of hotel management into their software. All the operations like bookings, billings, reservations, check-ins, checkouts and etc, are available on screen and can do within few clicks of mouse. Therefore, taken as a whole, efficiency of the hotel staff and the management system is increased. Clients can reserve the rooms and other services through the hotel website directly. There is no room for any third party connection in this events.. However, there are some advantages in this integration as follows; It leads to reduction of transportation costs as the common ownership results in closer geographic proximity. The transaction costs can be controlled if a firm acquires the other firms in the vertical chain, then one division of the same company will transfer goods to other divisions. So, transaction costs in form of transport, cost of negotiation, cost of control etc. will be eliminated. The overall average cost of the firm will decline because if the divisions are under same management control then there will be in house supply and departmental heads will determine the transfer price. An example could be pokarna granites limited. The company was established in 1991 as a partnership firm quarrying black galaxy granite in India. Transportation of granite to factories where they can be cut and polished is quite difficult. Since that time, the company has grown to a major quarrier and fabricator of stones from India and around the world. From the very beginning, the company has believed in vertical integration. They begin with the finest raw materials, invariably from their very own quarries, assuring consistent, high quality suppliers. If a firm purchases semi finished goods from an outside source then the work culture will be different and there are chances of dispute regarding terms and conditions of supply or if the outside supplier makes breach of contract and does not supply the goods on time then the firm can not fulfil its commitment to the third party and the goodwill of a firm will come to an end. Organizational inferences; If the supplier supplying the raw materials to a firm is big, in terms of size and structure, then it will dictate the terms and conditions. On the other hand if an in-house source is used then there will be no market variation and the supplier can not impose any unfavorable conditions. We can split the benefits of integration into short-term or static gains and more long-term dynamic gains.    The establishment of the Single market within Europe has led to significant gains for the participating member states. The removal of internal market barriers and the harmonization of national regulations are expected to lead to an increase in trade and reductions in cost. Conclusion Taken as a whole, Internationalization and integration are two major parts which leads to the growth of the Hospitality Industry and their impacts directly involve to the evolutionary change in the Industry.