What Is A Great Topic For A Research Paper For Healthcare Administration
Friday, May 15, 2020
President John F. Kennedy - 1206 Words
The date was May 25, 1961 and President John F. Kennedy had gathered together both the United States Senate and the House of Representatives in a special joint session of Congress. His goal was to passionately deliver a dramatic speech stating that by the end of the decade, we will send an American to the moon. Then on September 12, 1961 standing on the grounds of Rice University in Texas, he famously lifted his voice and said: We choose to go to the moon. We choose to go to the moon in this decade and do the other things, not because they are easy, but because they are hard, because that goal will serve to organize and measure the best of our energies and skills, because that challenge is one that we are willing to accept, one we areâ⬠¦show more contentâ⬠¦Specifically, this paper will address the following topics: the definition of a group, the roles played within the group, a description of the group member personalities, the intended focus of the group, how the group worked together as a team and the process that was involved, how conflict was resolved, and how the group emerged as a group at the end of the situation. Definition of the Group Within this conflict, the two groups that define the direction of the conflict are: the twelve spies and the angry group of followers. Examining the group of twelve spies which was established by God via Moses, their charge was to investigate the land of Canaan that God was preparing to give to the children of Israel. Specifically, Moses directed the spies to see what the land was like, to see if the people were weak or strong, to identify the population size, to identify the quality of the land, and to describe the state of the cities. Moses further encouraged his leadership team stating ââ¬Å"be of good courageâ⬠and bring back a sample of your work, i.e. ââ¬Å"bring some of the fruit of the landâ⬠as cited in Numbers chapter 13. Acknowledging the spies charge and dependence upon one another, this group is ââ¬Å"a collection of individuals who are interdependentâ⬠given their instructions to collectively investigate the land of Canaan (Johnson and Johnson, 2013 , p. 6). Even more, Moses defined clear goals and expectations for the group of spies. As reflected by
Wednesday, May 6, 2020
Introduction. Equiano Olaudah A Slave From Eboe Who Became
Introduction Equiano Olaudah a slave from Eboe who became an important figure in the history of slavery, was kidnapped at the age of 11/12 years of age along with his sister from their hometown in the village of Essaka (Benin), a state which is now located in the southern region of Nigeria, West Africa. Born in 1745, in an isolated, but a rich kingdom called Eboe, Olaudah Equiano, commonly known as Gustavus Vassa was born. The youngest boy of seven children, he was a favorite of his mother. His narrative has not only played an important role in the history of slavery, but has also made evident some of the harsh treatment that slaves had faced. He had not only spent more time with his mother, but she also decorated him with insignias wornâ⬠¦show more contentâ⬠¦He was later sold to Robert King, a merchant and Quaker from Philadelphia, who not only taught him many things, but also give him plenty of free time he could to find work at other businesses, earning himself extra cash. By July 10, 1766, Equiano was able to buy his freedom, and establish his own corporation. Equiano did things like, ââ¬Å"Working on commercial vessels and occasional scientific expeditions to Central America and the Arctic regionsâ⬠(Equiano, 2009). Nevertheless, by 1767 Equiano relocated to England were he started a different profession employed as a hair stylist for affluent Londoners. Later in 1792, he met and married Susanna Cullen, an Englishwoman, and together they had two girls. He died on the 31st day of March in 1797 at the aged of (51ââ¬â52). What do we learn about the Atlantic slave trade through Equianoââ¬â¢s narrative? Looking at the narrative of Equiano and the many details it portrays, we have learned a lot about the Atlantic slave trade and its effect on Africa, its people and the world. According to the narrative, slaves were not only taken against their will, but were separated from their families, loved ones and friends. They were mistreated, beaten, burned, torture, and punish for trying to escape or being disobedient by their masters. In some cases, the torture and punishments were so severe, that they wouldShow MoreRelatedThe Labor Of Slave Women From The Perspective Of Women1328 Words à |à 6 PagesAfrican American women. Even though forced labor was the essence of slavery, few have studied the labor of slave women from the perspective of women themselves. The author clarifies and analyzes the meanings that the women bestowed on their labors-meanings that constitute a rich resource of moral value for all who read this book. According to Joan Martin, ââ¬Å"moral agencyâ⬠for slaves meant autonomy from their masters, but obedience to God. ââ¬Å"Martin moves beyond issues of sorrow and oppression to shed newRead MoreOlaudah Equiano s Influence On African Diaspora History1941 Words à |à 8 Pages In 1745, Olaudah Equiano was born in Eboe, which is now Nigeria. When he was about eleven years old, he was kidnapped and sold to slave traders heading to the West Indies. Though he spent a short time in the state of Virginia, much of his time in slavery was spent serving the captains of slave ships and British navy vessels. One of his masters, Henry Pascal, the captain of a British trading vessel, gave him the name Gustavas Vassa, which he hardly used throughout his life. Paul Lovejoy, Canada
Tuesday, May 5, 2020
Health Standards National Safety and Quality Health Service
Question: Discuss about theHealth Standardsfor National Safety and Quality Health Service. Answer: Introduction: There are ten National Safety and Quality Health Service (NSQHS) Standards which have been developed by the Australian Commission on Safety and Quality in Health Care (ACSQHC). These are done after properly consulting and also collaborating with technical experts, jurisdictions and different stakeholders as well as patients and healthcare practitioners. They mainly aimed to develop the quality of health service provision to patients and to protect them from different harms and hazards (Kenny et al., 2013). The case study that is provided is based on a 61 year old patient who has undergone a lap cholecystectomy having history of type II diabetes, osteoarthritis and also toes amputation. This patient had been advised with the requirements of the administration of IVABs via a PICC line. Proper monitoring of the wound are also required along with proper measurement of vitals sign assessment and also general educations for the patient. The essay will mainly portray two of the ten standards that were recommended by the above mentioned council that will help the nurse to properly conduct her treatment without resulting in adverse consequences. Body: In case of the patient mentioned, the preliminary healthcare standards that need to be followed is the standard 3 that mainly ponders over the prevention as well as the control of healthcare associated infections. This guideline provides a overview about how antibiotic resistant organism like methicillin-resistant Staphylococcus aureus (MRSA) and vancomycin-resistant enterococci (VRE) and others are gradually becoming more powerful making wound healing more prone to infection. Hence, the standard states that how such organisms are affecting the life of patients in hospitals because the patients are usually treated in close proximity which increases the chance of infection (James et al., 2015). This creates a pressure on workforce due to longer stay of patients and also on resource wastage. If the patient is treated in homes, with proper education to family and relatives, the chance of infection will be far less as hospital acquired infection will be far less. Risk management approach at homes is totally different form hospitals and the policies that need to be followed in hospitals will not be applied in home treatment. Surveillance system will not have to be much rigid as risk of infection gets decreased. A negative aspect is that proper auditing of the performance of the nurses at home may not be properly audited by the organization and therefore compliance rates may not get monitored resulting in loss of quality treatment. Proper action may not be applied against the nurse in this scenario as well which would not have been the case if she was in hospital. Proper education and competency based training may not also be given to the nurse in order to develop her knowledge of invasive devices. The nurse should have to suit up with the patients home environment for disinfections and sterilizations, waste management, laundry and linen transportation, cleaning and also storage technique so that she can provide better care to patient. This may require some time for adapting to the new place which would not have been the case if she was treated in hospital (Hinchcliffe et al., 2014). Another standard that needs to be applied is the standard one which helps to ensure that whether safety and quality in healthcare service organizations are maintained or not (safetyandquality.gov.au, 2017). This standard is mainly proposed based on organizations and its monitoring as it suggests the organization to develop a management system for proper development, implementation and regular review of the policies but this cannot take place in a systematic way in homes. Here the entire responsibility depends on the nurse and therefore depends upon the critical thinking ability of the nurse to manage the safety and quality issues by completely taking into consideration her responsibility (Allen et al., 2014). Herein also the organization will not be able to assess the performance of the nurse and therefore the nurse either have to be very much expertise in her skill and need to have all the knowledge of the standards provide by the council. The steps needed to be taken by the nurse t o practice effectively do not vary with skills as the skills that need to be applied are same in both areas (Hungerford, 2014). Only the proper management, recording of data, incident analysis, feedback provision and others differ in the mode of conductance and varies greatly when conducted in homes in comparison to hospitals. Conclusion: Thereby, from the above essay it is found that two important standard of infection control and practice of safe and quality maintenance can be applied in the home environment. However proper monitoring authority and management system usually remains absent in homes unlike hospitals which thereby increases the risks of treatments done by the nurses as there is no guidance system. It also takes a lot of time for the nurses to adapt to the setting of the home which becomes not an issue in hospitals where she works. Moreover, education needs to be given to family in details as they are the immediate member throughout the day for clean and safety considerations. Reference: Allen, J., Hutchinson, A. M., Brown, R., Livingston, P. M. (2014). Quality care outcomes following transitional care interventions for older people from hospital to home: a systematic review.BMC health services research,14(1), 346. Hinchcliff, R., Greenfield, D., Braithwaite, J. (2014). Is it worth engaging in multi-stakeholder health services research collaborations? Reflections on key benefits, challenges and enabling mechanisms.International journal for quality in health care,26(2), 124-128. Hungerford, C. (2014). Recovery as a model of care? Insights from an Australian case study.Issues in Mental Health Nursing,35(3), 156-164. James, R., Upjohn, L., Cotta, M., Luu, S., Marshall, C., Buising, K., Thursky, K. (2015). Measuring antimicrobial prescribing quality in Australian hospitals: development and evaluation of a national antimicrobial prescribing survey tool.Journal of Antimicrobial Chemotherapy,70(6), 1912-1918. Kenny, A., Hyett, N., Sawtell, J., Dickson-Swift, V., Farmer, J., OMeara, P. (2013). Community participation in rural health: a scoping review.BMC Health Services Research,13(1), 64. safetyandquality.gov.au. (2017). National Safety and Quality Health Service Standards. [online] Available at: https://www.safetyandquality.gov.au/wp-content/uploads/2011/09/NSQHS-Standards-Sept-2012.pdf [Accessed 25 Feb. 2017].
Sunday, April 12, 2020
Contrast of Modern Othello to Shakesperian Othello Essay Example
Contrast of Modern Othello to Shakesperian Othello Paper The strong influential themes of race and women in Shakespeareââ¬â¢s Othello are consistently portrayed in Jeoffery Saxââ¬â¢s contemporary film version of Othello, however the themes are greatly contrasted through the influential changes in society which undermine the values and purposes of these themes. The changes in values of these themes are expressed vividly in both accounts. It is evident throughout Shakespeareââ¬â¢s Othello that women are portrayed through the stereotypical stance of having a ââ¬Ëlower statusââ¬â¢ to men, as a males dominate society in nearly all aspects. Women were displayed as being promiscuous, untrustworthy, rash decision makers and generated a lack of intellect or understanding. Women were not respect but rather referred to as props who led less respectable lives to that of men. This is evident through out Shakespeareââ¬â¢s Othello as Desdemona is represented as the typical wife and Emilia is portrayed as the typical female servant. The first evidence of this is demonstrated in Act one where Barbantio, Desdemonaââ¬â¢s father speaks out against Othello and Desdemonaââ¬â¢s marriage, he expresses the notion of Desdemona being ââ¬Ëbound to him for life and educationââ¬â¢ and he expresses her as his own property and that he must own her until he gives her to a somewhat successful powerful white noble figure. We will write a custom essay sample on Contrast of Modern Othello to Shakesperian Othello specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Contrast of Modern Othello to Shakesperian Othello specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Contrast of Modern Othello to Shakesperian Othello specifically for you FOR ONLY $16.38 $13.9/page Hire Writer This expresses his stereotypical view of women within society and this is highly ironic due to the circumstances in which Desdemona is acting out of the typical character of women by diseaving her father and marrying a highly contrasted figure, being Othello, than her father has desired. The stereotypical circumstance for women in Elizabethan times states that women shall remain virgins until marriage and therefore must give their virginity to their husbands as a way of demonstrating the theory of being bound for life. This coincides with the past interpretation of Barbantio representing women as props and the ability to own them. The symbol of the handkerchief in Shakespeareââ¬â¢s Othello is a symbol of virginity as the handkerchief is dotted with red strawberries, which strongly suggests the bloodstains left on the sheets on a virginââ¬â¢s wedding night. The handkerchief being a gift from Othello to Desdemona plays a significant role through Igaoââ¬â¢s method of manipulation. By questioning Desdemona essence of virginity Iago is able to successfully portray Desdemona as how he feels women should be perceived. ââ¬Å"In Venice they do let God see the pranks they dare not show their husbands. Their best conscience s not to leaveââ¬â¢t undone, but keepââ¬â¢t unknownââ¬â¢. By alluding to God Shakespeare is ironically contrasting the purity of virginity to the defilement of promiscuous women. This is alluding to Iagoââ¬â¢s consistent reflection of women as promiscuous whores. Othello says to Desdemona ââ¬Å"come my dear love,/ The purchase made, the fruits are to ensue. / The profitââ¬â¢s yet to come ââ¬â¢tween me and youâ⬠This metaphorical comment seems to indicate the couple has not yet made their marriage official through the act of sex. The ââ¬Å"purchaseâ⬠is the wedding and the ââ¬Å"fruitsâ⬠are the sex. This is ironic for theoretically this implies Othelloââ¬â¢s lack of control over Desdemona for he does not yet own her through taking her virginity, this also alludes to the essence of promiscuity as she could have given her virginity to someone like Cassio which adds to Othelloââ¬â¢s ability to be manipulated. However the metaphor could be suggesting Othello to already have taken her virginity by suggesting the ââ¬Å"purchaseâ⬠is Desdemonaââ¬â¢s virginity. This could then suggest Othelloââ¬â¢s unwillingness to account for his wrongdoing in unleashing her newly awakened sexuality. Emiliaââ¬â¢s attitude to the roles of women in Elizabethan is strong and portrays an ironic sense of acting against traditions. Her views are strongly contrasted to that of Desdemona whoââ¬â¢s attitude towards her own chasity at the end of the play represents her how males of the time would have expected of a women, however Emila expresses the ideal of looking for happiness else where and she argues that women should have a middle ground, she demonstrates a social stance in that women are humans with needs and desires rather than virgins and whores. She expresses this through the metaphor as man are ââ¬Å"all but stomaches, and we are all but food. /They eat us hungrily, and when they are full, / They belch usâ⬠In Jeoffrey Saxââ¬â¢s film version of Othello women are portrayed in a different manner due to the changed in the role of women within society. Women have become more powerful, living lives with proper careers and the ability to choose their lovers for themselves. However similar to that of Elizabethan times women are still portrayed as promiscuous as they have gained the ability to have multiple partners, and it is no longer required to remain a virgin until marriage. The power of men over women however is still evident in the contemporary version and this is demonstrated in the opening silouqy of the film, through a close up shot of a dark male hand over a light female hand. This is a representation of the power of men in society and especially within this particular relationship. The two hands do not contain wedding rings which signify the change in attitude towards marriage, and the relationship between marriage and sex. These two figures are evidently unbound to each other for life but are engaging in sexual physical activities. The ownership of women is subtly expressed through Dessieââ¬â¢s stereotypical views of the power struggle between men and women in relation ships. ââ¬Å"Isnââ¬â¢t that what happens between men and women, the men talk and the women listenâ⬠This generalised statement reflects the stereotypical nature of John and Dessieââ¬â¢s relationship and foreshadows the somewhat expected ending tragedy in which John fails to listen to Dessie resulting in her ironic death as a pure trustworthy wife. Through the metaphor ââ¬Å"I am a blank sheet waiting for you to write your name on meâ⬠Demonstrates Dessieââ¬â¢s lack of power in the relationship resulting in her death. Dessieââ¬â¢s purity and stereotypical values of innocence within women is contrasted with that of Luluââ¬â¢s interpretation of women within society. Lulu is far more courageous and promiscuous women when it comes to men and sex, however she is able to foreshadow Othelloââ¬â¢s actions through the mere doubt she acquires for men in general. I used to shag people out of sheer politenessâ⬠represents Luluââ¬â¢s ability to sleep with men without being in love with them. This demonstrates the power Lulu acquires to be independent of men as apposed to Dessie who completely gives herself to Othello. The stances in which Dessie and Lulu acquire within the contemporary version are very similar to that of Desdemona and Emilia in Shakespeareââ¬â¢s Othello. Jago in Saxââ¬â¢s version alludes dire ctly to Iago in Shakespeareââ¬â¢s version as his view of women related directly to the view of women in Elizabethen times. Women are the same, they like it more than we think they doâ⬠, through the use of sex as a tool for power and manipulation Jago is successfully able to manipulate Johnââ¬â¢s trust in Dessie by means of the robe as motif representing their sexual desires for one another. The robe is the modern version of the handkerchief as it is a representation of love and sex between John and Dessie, however in the modern version Dessie gives it to John which demonstrates the contemporary changes in values and interpretations of sexual desire. Through Dessie giving it to John and the mere misunderstanding of Dessie also giving to Michael Cass the reoccurring theme of a shift in the power of women is established. The representation of race within Shakespeareââ¬â¢s Othello is demonstrated very early on in the play as the audience is firstly introduced to him by means of conversation between two other parties in which they refer to him as the moor, the moor being someone of black appearance. In the opening scene the negative perception of Othello is portrayed by Iago and Roderigo as they accuse Othello of stealing Barbantioââ¬â¢s daughter. They directly refer to him as a ââ¬Å"thiefâ⬠and explain ââ¬Å"Your daughter and the Moor , are now making the beasts with two backsâ⬠which allows the audience to refer to him as a devil character by directly associating Othello with animalistic qualities. Creating the imagery of Othello acquiring beast like qualities alludes to the prospect of his character enabling such savage qualities as the extremities of abduction and rape. The animalistic qualities are metaphorical for his race by means of a savage Moor. References to animals is evident throughout the play not only when referring to Othello himself, this represents a sense of the laws of nature rather than the laws of society which primarily govern the characters in the play. As the audience is properly introduced to the Moore, the image becomes clear in Othelloââ¬â¢s nature of speech that he does not inherit any of the stereotypical characteristics of evil qualities depicted by Iago. In act 1 scene 3 through the use of figurative language the Duke declares quietly to Barbantio ââ¬Å"Your son-in-law is far more fair than blackâ⬠, this metaphor symbolises the way in which Othello inherits qualities of a white manââ¬â¢s honesty by the dramatic contrast between colours. This is an ironic representation of forshadowing as in the end of the play Othello becomes savage and monstrous as he is consumed by jealousy which contradicts the essence of his fair qualities. Later in the play when Othello starts to undermine Desdemona and his relationship by means of the manipulation tactics of Iago, he draws direct attention to his race ââ¬Å"haply for I am black, and have not those soft parts of conversation that chambers have; or for I am declined into the vale of years ââ¬â yet thatââ¬â¢s not much ââ¬â sheââ¬â¢s goneâ⬠This is the first circumstance in which Othello himself has brought direct negative attention to his race, which demonstrates his lacking of confidence in which he so happily acquired at the beginning of the play. Comparing Shakespeareââ¬â¢s Othello to Jeoffery Saxââ¬â¢s film Othello it is obvious the importance of race is far less significant in Elizabethan times, which suggests race has become more of an issue in contemporary times. In Jeoffery Saxââ¬â¢s film Othello the significance of race plays a much more significant role as it seems to create tension within every situation throughout the film. This importance of race is so strong throughout the film and this is evident in the opening silouqy where a close up of a dark male hand is resting over a light female hand. This contrast between the pigments of skin types introduces the recurring theme of inequality within race in modern day society and the role the dark male hand plays within the relationship. Following the opening sililougy the audience is confronted with fast, handheld and diagetic shots of race riots. These shots are highly a contrasted juxtaposition with upper class white society in which the shots are slower and smoother. This suggests further inequality but through creating an image of the black race acting out in the negative sense as savage and uncontrollable. This is similar to the audiences first introduction to the Moore, in which Rodrigo and Iago are referring to him as savage and monstrous. The consistent presence of water within the film acts a recurring symbol or motif in which it represents the yin and yang, meaning opposites as black and white as water is the opposite to fire. This further suggests the consistent battle between black and white men and women in modern society. This relates to values and representations of race from both parties. If I could find any of them with their brains as big as their dicksâ⬠suggests the derogatory stereotypical views of black men from a white mans point of view. It symbolises the power of intellect in which the white men claim to have successfully achieved. This statement is highly ironic for during this time in the film John Othello is the only police officer who is using his ââ¬Ëbrainââ¬â¢ and attending to the issues of the street riots in which no other police officer has taken any initiative in resolving. This contradicts this statement through the actions of John Othello being a black police officer. As this statement is announced during a conversation in involving Jago it is interesting as later on in the film Jago declares to John ââ¬Å"You cleaver big black bustardâ⬠which is suggesting John as gaining intellect or having a bigger ââ¬Ëbrainââ¬â¢ and therefore being of higher significance and importance. Following this Jago uses direct speech to the audience in which he displays a neurotic fit in which he describes John as a ââ¬Å"patronising apeâ⬠the use of animalistic representation is portrayed similar to that of Shakespeareââ¬â¢s version in which it associates Johnââ¬â¢s race with the actions and qualities of animals through this extended metaphor. John Othelloââ¬â¢s approach to the inequality between black and white men and women is suggested from a far less powerful stance in which he suggests his lack of power through his past desire to be white ââ¬Å"Your people brought my people here to work as slavesâ⬠¦.. I wanted to be like you, wanted to be whiteâ⬠, this suggests his reclining stance in his pride of his race as he is slowly being extracted of his power. The direct accusation suggests the change in his character to primarily fit the stereotypical characteristics of a black man. This is similar to Shakespeareââ¬â¢s Othello in the evidence of jealousy turning Othello into the savage Moore he so longingly resented. The themes of race and women are strongly displayed in both accounts which suggest the inability of change over time between such different societies; however there are situations which within these themes that suggest a change in attitudes through the extent and position in which these themes are portrayed. The difference in the significance of race from Shakespearian times to modern times reflects the changes in society and how individuals relate to one another through appearance versus reality. The changes in attitudes to women have also changed significantly through the acceptance of women as human beings, enabling them to run their own lives and make their own decisions, the power for women in modern day society has developed so evidently. These as well as the similarities in times are magnificently demonstrated in both accounts.
Wednesday, March 11, 2020
Pink FLoyd essays
Pink FLoyd essays Music in the 20th century is something that has evolved from early days of jazz and blues music, to Rap, Rs name was arrived at after blues musicians Floyd Council and Pink Anderson. However, this was not the first of the names given to the band. Sigma6 was the first on a list of many names to come for the band. The band had many names at different times such as, The Screaming Abdabs, T-Set, The Meggadeaths, and The Architectural Abdabs, until Syd came up with the name The Pink Floyd Sound, inspired by two jazz artists Pink Anderson, and Floyd Council (pinkfloyd.com). The band had roots in the early 1960s in Cambridge, England where future rock legends Syd Barrett and David Gilmour grew up. The band would generally gather at Barretts house to play in his lavish home, using makeshift instruments to play the tunes of current rock stars; that is up until member Roger Waters blew his college grant money on his first guitar (Povey 8). Now as to the use of the name Pink Floyd, there is much to wonder. Contrary to popular belief, the name did not come from a hallucination Syd Barrett had while using LSD. In his record collection he possessed two records, one by Pink Anderson, master of ragtime, blues and folk, and the other by bluesman Floyd Council, through which he simply combined first and last names to come up with a band name. Other options came up such as Anderson Council, but the group opted for another name (Povey 14). Pink Floyd was born. Getting back to the origin of the groups members is a lengthy issue. Each member had been in other bands before comi...
Sunday, February 23, 2020
Asian philosphy Article Example | Topics and Well Written Essays - 250 words - 2
Asian philosphy - Article Example Ideally, establishing the distinctions between these two aspects enhances the understanding that one has pertaining to Asian philosophy. First, Advaita Vedanta philosophy humans have souls in them and despite the fact that humans live distinct lives physically; the souls are usually never separate. Advaita Vedanta philosophy is usually a key pillar in the study of Hinduism in temples and determines individual behaviors among individuals. Samkhya on its part, provides a different school of thought pertaining to Asian philosophy, as it maintains more realistic metaphysical perspective in the view of occurrences. It does this by the combination of the teachings and doctrines of the Sankhya philosophy and the physical practice of yoga and its significance to humans. In better understanding of the Sankhya philosophy works to provide the theory behind understanding the metaphysical reality of the world, while Yoga allows practicing individuals to actually apply in use all the internalized aspects pertaining to the philosophical teachings themselves. In summary, Sankhya can be termed as the motive power of the universe upon which the soul
Friday, February 7, 2020
Valuation of Securities and Cost of Capital Assignment
Valuation of Securities and Cost of Capital - Assignment Example These book values are unreliable because they might be significantly different from the current value of these assets. The values of assets and liabilities are based on past transactions that demonstrate no account of the future prospects. A company's assets can be evaluated on the basis of their market values. Market value of shares can be determined when they are traded on a recognised stock exchange. The share values estimated from the current market price are actual values, however this procedure becomes difficult when the company is unquoted. The market value of shares, which is also known as market capitalisation, is obtained by multiplying a company's total shares in issue with the current market price per share. The current market price of Tesco plc is 384.50p per share and Sainsbury plc is 395.00p per share. Hence, the market capitalisation of Tesco and Sainsbury is 3,007m and 663m respectively (see appendix I). P/E ratio is obtained when current market price per share is divided by earning per share. When the same ratio is inversed and earning per share is dividend by market price per share we get Earnings Yield. ... Earning per share is based on accounting profits and is derived form company's financial statements. Tesco plc and Sainsbury plc's EPS is 20.07p and 3.8p respectively. The P/E ratio for Tesco plc is 19.15 and Sainsbury plc is 103.94 (see appendix II), whereas the Earnings Yield of both these companies is 0.052 and 0.009 respectively (see appendix III). Although Sainsbury plc's P/E ratio 103.94 is much higher than that of the Tesco plc i.e., 19.15, yet the earnings yield of Sainsbury plc is much lower than the Tesco plc. The reason is that Sainsbury's EPS is considerably lower than the Tesco. Sainsbury plc is not more valuable than Tesco plc but shareholders perceive Sainsbury to be more valuable than Tesco, as reflected by the market prices of both the company's shares. Bonus shares are provided to shareholders without any cost as a form of dividend in lieu of cash dividends. The issue of bonus shares to the shareholders does not cause shareholders' ownership to diminish, but it leads to the reduction of EPS and increase in P/E ratio. Tesco plc's EPS before dilutive share options was 20.07p per share and after dilution it decreased to 19.79p per share (annual report 2006, p60). Sainsbury plc's basic and diluted earnings are the same i.e., 3.8p per share because the company has closed all the share-options and share-plans (annual report 2006, p42). In the case of Right issues, companies issue shares at a price less than the one prevailing in the market also known as deep discounting. Such issues involve terms such as 1 for 4 etc. Right issues are used to raise long-term finances for a company for its investment decisions. This sort of share issuance also does not lead to a diminution in shareholder ownership, unless rights options are not
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