Negotiation and Leadership Essay

The negotiation is a process where two parts make a deal to satisfy the interests or needs of each other. We are going to analyze how and when to negotiate. To guide ourselves with this topic, we are going to use the method of Harvard that consists in seven steps. Harvard method: 1) Interests 2) Alternatives 3) Options 4) Legitimacy 5) Communication 6) Relationship 7) Compromise We are going to analyze the seven steps and also we are going to show the importance of generating confidence space with the locator, understand other points of view, look for points in common and why the negotiation benefits both sides, we are also going to see examples of the characteristics of the personality of the negotiator. After we evaluate all this, we are going to see the importance of a leader to be able to negotiate. Development: We human beings unconsciously and consciously negotiate every day, an example of unconsciously if you are walking to a building and someone else is walking next to you, we unconsciously react depending on the situation to make the decision of who walks in first. As mentioned before the negotiation is to make a deal between each other to satisfy our interests, that’s why we can say that the negotiation rises when we or other want to satisfy needs. The method of Harvard consists in seven basic steps that leads you to affront situations during a negotiation with the objective of reaching a win win situation, we can say that this is the best style of negotiation because both parts are happy and if the compromises are completed, the relationship between each other is very good and this helps you to increase your image. The seven Harvard steps 1) Interests: this step means that you must know your needs and how to satisfy them, in a negotiation it is very important to know or find out the interests of the other part, this can be done by having an effective communication (open questions). In the Harvard method, they use the Maslow Theory about need, that consists in five steps of necessities; the first step is Physiologic, the second its Security, the third its Social, the fourth is Esteem, and the last Self Actualization. 2) Alternatives: This is very important because when you identify your needs to satisfy the first thing you have to do is to consider all the different options that you have to satisfy them. Example: if your need is to find shoes to walk comfortably, your alternative would be to go to a lot of shoe shops to decide which one is better. The meaning of this step in the negotiation is the opportunity costs that are the things you leave behind to do your negotiation. Here also we have the M.A.A.N: (Mejor Alternativa a un Acuerdo Negociado) (The Best Alternative to a Negotiated Agreement) When a negotiator has worked on his alternatives and those of his counterpart, he has identified the M.A.A.N of both and has done that his better alternative will be possible, that will be the moment that it will be in better conditions to negotiate. This is because it will have the Intention very clear in the negotiation, but in addition, because it will know really what to do if it does not reach an agreement. The level of the best of our alternatives satisfies our interests, will help us to determine when an agreement can or not be accepted. Definitively, the MAAN will be an effective guide to know if it convenes for us or not. On the contrary, if it was a question our MAAN as a poor option with relation, it doesn’t have sense accept it. Is there all the power of the negotiation. 3) Options: when you realize which was the shoe shop that satisfy your needs, this shoe shop will be your option, when you realize this you must go and establish a conversation, the idea of this is to generate better options to negotiate. You can also add to your option ideas of other alternatives that you have seen and you realize that can make your objectives better. Example: in one shoe shop they give you a pair of socks but I didn’t like the shoes, I went to a different shop and I liked the shoes so I asked the men if he could give me a pair of socks for free, this example is about generating more options inside your best Alternative (your option) The number of alternatives and options don’t create by themselves, it is very important to say that this are generated by your motivation and actions, if you don’t have a good motivation your number of alternatives and options will be very low, with this conformism you don’t maximize the possibilities of increasing your goals. After we talk about these steps, it is important to mention that by using them we are going to increase the benefits of the negotiation. 4) Legitimacy: The importance of this point is to accept or recognize the value of the issue at hand. The way of doing this is through the Judgment: the judgment consists on a feeling of being treated fairly in a negotiation. Often an interest in legitimacy and feeling fairly treated is the main driver in a dispute. However, parties with differing views on what is fair may fail to realize that beneath their conflicting positions is the same underlying interest. A few judgments that you can make at the time you buy a car are: -Price in the market – Review the car with a mechanic – Review a forum. 5) Communication: The form that is in use for reporting has a critical impact in the result of the negotiation, specially when both parts are not known † the benefit can be very much major for both when it is negotiated face to face because only of this form it is possible to share vital information. If the volume of the transactions to realizing is important, it is worth a sorrow being going to know personally the person with whom then we will have to negotiate for telephone or e-mail. We have verified that if both parts have jointly a personal positive, at the time knowledge the method of communication (telephone, e-mail, etc.) it must have importance for the good result. If the negotiators, on the contrary do not know them selves or are strange the way turns into critic and marks the difference. The confidence and the contribution establish much easier when the parts are known, which would be impossible to do for telephone or e-mail between strangers. If the contrapart don’t want to tell you what are their interest, a good way to discovered is Open Questions, the main idea of the open questions is to get information, this are not yes or no answers, the purpose of this is get the most information you can have. 6) Relationship: The most important negotiations are done by the persons or institutions with which we have negotiated before and we will negotiate again. For a good relation you must not mix problems of personal relation with essential problems of the negotiation. With a good communication, and confidence, the relationship will stay in time; and also will be able to do more negotiation in the future. 7) Commitments: The commitments are verbal or written expositions that specify what a part will do or do. We might be calling them the † draft of the contract â€Å". They can be done in the course of a negotiation. In general, an agreement will be better in the measure in which the promises have had: exposition, structure and they have been designed in order that they turn into lasting agreements, of easy comprehension and verifiable. The idea of the commitments is also being clear whit problems that could happens in future, for example if I made a deal with a japanes, in which I export Fruit to Japan; we must be clear in situations like bad time that could close the marine, so the fruits will no be able to get out of Chile, the idea of this when me made de commitments we must be clear who is going to be responsible for this, who is going to pay that fruit, or pay to get freezer to main the fruit. Negotiate by position, is not good, because the men in position don’t want to give up their expectative. Two examples of Negotiate by position are: – Hard Ones: they a are rude, strict, they don’t have good communication, don’t respect the other, he is only interested on complete their goal, he will never change her price; so we can said; he don’t care having a good negotiation. – Soft Ones: They don’t respect they self’s, they usually change the price to continues in the negotiation, the problem in this position is that the men in this position and de other part in the negotiation, don’t respect de soft man. The importance of negotiation in leadership First of all we agree with this statement and believe that only a very authoritarian leadership works without negotiation. To explain this very important issue we are going to compare two fundamental definitions, in this case â€Å"negotiation† and â€Å"leadership†. â€Å"Negotiation is a dialogue between two or more people or parties, intended to reach an understanding, etc.† Wikipedia â€Å"Leadership is organizing a group of people to achieve a common goal.† Wikipedia As you can notice both of the definitions have the same aim, which is to reach an agreement between people. This leaves clear that negotiation is essential for a good leadership. You can not be a leader without being a negotiator. As we learned in class, there are three different types of leaders (authoritharian, democratic and liberal). The last two are considered to be the best because they leave place to work on your own and most importantly to discuss. And that offers a place of confidence between the leader and the followers. That confidence is generated by the negotiations that take place and make both parties reach their common interests. Our second and fundamental hypothesis, besides the definitions, is that leadership and negotiation take place everywhere and at any time in our lives. For example there are different types of temperaments in our society, sanguine, choleric, melancholic and phlegmatic. In a job selection it is not possible to hire a perfect combination of these temperaments, so you have to negotiate your flaws and pros so both of you can reach the common goal. Another example is a situation in a team-work session, where we know that everyone is supposed to help to reach an objective. If the leader is not able to handle the different types of personalities the project is most likely to fail. And in this process he has to negotiate several terms with the different parts of the team. As you can see none of the two areas are more important than the other, they are intertwined. It is necessary to have negotiation skills as a leader, because without them you cannot lead properly. Both of them have the exact same objective, which is to reach a common goal. And negotiation as leadership take place in our daily live just we don’t often notice it. Conclusion: The negotiation is a very important aspect in ours lives, knowing the best way to do it is a great opportunity to increase our leader and personals abilities. In the future this will us to increase our utilities in a negotiation, in ours job, live, and others. Being a responsible man the opportunities of have more successful negotiations. In this work demonstrate the importance of negotiation in a leader.

Analysis of Madame Bovary

The story begins with Charles, a young boy who is scorned by his peers in school. He lived a life of mediocrity and dullness even as he grew older, failing his first medical exam and ends up being a second rate doctor. His mother finds him a would-be rich wife, who dies leaving him less money than he expected. Soon afterwards, he meets and falls in love with Emma, the daughter of one of his patients and marries her. However, Emma grows disappointed as her new life of marriage failed to meet her cravings in life. She also felt the same even when she gave birth to Berthe, the Bovarys’ first child. Soon, she starts a romantic affair with Leon, whom the couple met earlier, but felt guilty after finding out that he loved her. Leon, convinced that Emma would never love him back, goes to Paris to study law, leaving the latter miserable. Emma then meets Rodolphe, a wealthy neighbor, and begins a passionate affair with him and even borrows money from a merchant, Lheureux, to buy him gifts. Charles on the other hand, is in trouble for following the medical procedure suggested by Homais, a bourgeois who talks about things he doesn’t know anything about. The medical procedure leads to the amputation of a patient’s leg due to gangrene. After some time, Rodolphe grew bored of her and ends the relationship, leaving Emma very ill. After her recovery, they watch an opera in the nearby city of Rouen and again meet Leon. Emma and Leon rekindle their love affair. This time, however, Emma and Leon grew tired of each other and decide to part ways. Meanwhile, Emma is unable to pay her debts even after pleading for help from both Rodolphe and Leon, forcing Lheureux to seize her properties. This causes Emma extreme sorrow and misery, which ultimately results in her committing suicide by swallowing arsenic. Charles, for a short while, preserves the memory of his wife, but soon discovers the love letters from her past affairs. He dies alone in his garden, struck with pain and agony, leaving their daughter Berthe to work in a cotton mill as an orphan. Analysis Basically, there are many scenes in the story that could one way or another portray realism but possibly the best example is Emma’s affairs with Rodolphe and Leon. This is, without a shadow of a doubt, an act of adultery, which is common among families in the real world and committed by both the husband and the wife. In the story, the example used was the wife’s boredom and frustrations with her husband, who is unable to satisfy all aspects of her needs. Charles’ laziness, mediocrity, and incompetence disappointed Emma as she yearned to live a life of higher status, something that he failed to give her thereby causing the latter to commit adulterous acts. The supposed union of Emma and Charles dissolved during their deaths leaving their only child, Berthe, a poor and helpless orphan. The dysfunctional family of three characters portrays a common scenario in the world and also conveys the message that ultimately, it is the children who suffer most. One other theme the story depicts is the â€Å"showpiece of French realism.† The story took place in the 19th century France, a period where bourgeois or French people belonging to the middle class thrived. Emma was basically a bourgeois but was clearly dissatisfied with her status as she constantly wanted more. She clearly didn’t like this group of people and wanted to escape her apparent â€Å"prison† of being in the middle class. Her hatred for her class also possibly echoes the sentiments of the novel’s author, Gustave Flaubert. This was further emphasized with the depiction of Homais as a pharmacist of the bourgeois class who spoke a lot about things he actually didn’t know of. Charles and Homais’ incompetence fuels Emma’s hatred for the bourgeois even more. Historically, these feelings toward the bourgeois became a growing trend among people in France during the 19th century so in a sense it depicted what the conditions of the people were and how they felt during that period. Works Cited Flaubert, Gustave. Madame Bovary. USA: Penguin Classics, 2002.

Islamic Accounting & Financial Reporting Assignment

Islamic Accounting & Financial Reporting - Assignment Example The risks towards one’s life, wealth and health are growing as numbers of incidents and thefts are growing in all parts of the world but these threats are more severe in the case of Islamic countries where terrorism and unlawfulness is rising all the time (Lapidus, 1996). The whole idea behind Islamic Takaful insurance is to legalize and Islamize the notion of insurance (Maysami & Williams, 2006). The conceptual framework of Takaful insurance is not a new one because Prophet Mohammad had implemented it fourteen centuries ago. However, the featured concept is based on mutual cooperation of all the policyholders (Wahab, Lewis, & Hassan, 2007). The funds are gathered and then deserving policyholder is paid by all others so that he or she can get through a rough time. The responsibility of each policyholder to pay the suffering partner is found to be stemming from ethics and humanity. No legal measures are taken in order to bind policyholders to help each other. The Islamic teachi ngs promote charity and genuine concern for others and the emphasis on the need to assist those Muslims who are going through rough times increase manifold in Islamic teachings and Quran. The policyholders usually do not help those partners who did not help them in the difficult period of life and it is also considered totally acceptable by Muslim Scholars as human relations are based on rule of reciprocity. The Takaful insurance challenges the presence of interest which according to teachings of Islam promotes exploitation and social inequality in the society. Moreover, it is imperative to note that Takaful insurance is not a very powerful tool of moneymaking right now and therefore, the companies engaged in this business have to get themselves ensured with other conventional service providers in order to remain afloat in the industry. Additionally, most of the Muslim capitalists do not consider the notion of Takaful insurance viable in nature because according to them, it ignores

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World War II Essay Example for Free

World War II Essay World War II started in 1939 and ended in 1945. It involved the countries of Japan, Germany, and Italy. Those three formed the Axis Powers. The countries that fought against them were Great Britain, France, the United States, and in part the Soviet Union. Notable names in the war were: Franklin Delano Roosevelt, (president of the United States); Adolf Hitler, (Nazi Party leader and German chancellor); Benito Mussolini, (Italian fascist dictator); Hideki Tojo, (Japanese military leader); and Joseph Stalin, (communist leader of Soviet Union). World War II was the most fatal war in history, resulting in between 40 and 50 million deaths. World War II was caused by many different reasons. It was caused psychologically by: Adolf Hitler’s actions; Anti-Semitism; and totalitarianism. Politically it was caused by: the Treaty of Versailles; the failure of the League of Nations; and failure of appeasement. Finally it was caused geographically by: imperialistic Japan; the Treaty of Versailles; and the positioning of the United States. World War II was caused psychologically by the actions of Hitler, the influence of Anti-Semitism, and the influence of totalitarianism all over Europe. Adolf Hitler was a powerful speaker. He influenced many people to support himself and the Nazi party. â€Å"All great world shaking events have been brought about not by written matter, but by the spoken word. † (Adolf Hitler Quotes). On the contrary, he published a book, Mein Kampf (my struggle). In this book he described the Nazi party. The consumer and the common man read the book. They began to believe what Hitler had preached in Mein Kampf. â€Å"Those who want to live, let them fight, and those who do not want to fight in this world of eternal struggle do not deserve to live. (Hitler and Manheim). Hitler promoted the beliefs of German expansion; that Germans were the â€Å"master race† and all others are inferior; and Anti-Semitism. Anti-Semitism caused World War II in part psychologically by making people think that Jews were the cause of all their problems, and that they shouldn’t exist within the â€Å"Third Reich† or Third German Empire. During World War II between 4,869,360 and 5,894,716 Jewish were exterminated. (Holocaust Memorial Museum). This mass killing was called the Holocaust. The people that killed all of these innocents were who? People influenced by Anti-Semitism, mostly members of the Nazi Party. Anti-Semitism caused the Holocaust. â€Å"The personification of the devil as the symbol of evil assumes the living shape of the Jew. † (Adolf Hitler Quotes). The Holocaust was one reason for war. So in turn, Anti-Semitism was one psychological cause of World War II. Most of the Anti-Semitism was present in the Nazi Party, which was the German fascism. Totalitarianism was when a government has total control, and individual people have no civil rights. Before and during World War II, there were many different types of totalitarianism. There was fascism, communism, the Nazi Party, and militarism in Japan. Psychologically all of these different brands of totalitarianism influenced an abundance of the nations involved in World War II. In the Soviet Union, Joseph Stalin took total control by transforming his nation into an industrial communist state. People who disobeyed him were killed. In Italy, Benito Mussolini rose to power through winning the support of many discontent Italians and by fascism. â€Å"Italy wants peace, work, and calm. I will give these things with love if possible, with force if necessary. (Danzer, Klor de Alva, Krieger, Wilson, and Woloch). In Germany, Adolf Hitler influenced Germany with the German brand of fascism, the Nazi party. â€Å"The great strength of the totalitarian state is that it forces those who fear it to imitate it. †(â€Å"Adolf Hitler Quotes†). Finally in Japan, Hideki Tojo used the military to take control and use notes of fascism in his leadership. All of these dictators used totalitarianism to influence the people of their nations. In doing this, they create a psychologically influenced mass of people who believe and conform to totalitarianism. From three quarters of these nations, the Axis Powers were born. World War II was caused politically by: the Treaty of Versailles; failure of the League of Nations; and failure of appeasement. The Treaty of Versailles was a post World War I peace agreement that established new borders, nations, and war reparations. In this treaty, Germany was to take all the blame and sole responsibility for the war. They were stripped of their colonies. The Germans were angry and resentful. The Treaty of Versailles destroyed the German economy and also banned them from maintaining an army. All of these angered people. This political move aided to moving towards World War II. Some people, like Herbert Hoover, thought it not a good idea. â€Å"The economic consequences alone will pull down all Europe, and thus injure the United States. † (Danzer, Klor de Alva, Krieger, Wilson, and Woloch). The League of Nations was meant to keep world peace. Yet another world peace agreement after World War I, it was meant to settle conflicts between nations with words over fighting. However it failed because not all nations participated in the League and some countries eventually left too. Other countries still traded with the countries that withdrew. This made the League’s rules pointless. Also the League had no force behind it. They had no army. â€Å"It is a commonplace that the League of Nations is not yet what its most enthusiastic protagonists intended it to be. † (Branting). All of these reasons created a weakness within the League, causing it to fail, making it easier to start a war. Appeasement is giving in. Neville Chamberlain and Edouard Daladier met with Adolf Hitler and Benito Mussolini in Munich in 1938. The four signed the Munich Agreement. This entailed that the Sudetenland of Czechoslovakia would be turned over to Germany and that this would be the â€Å"last territorial demand†. â€Å"His Majesty’s government in the United Kingdom and the French Government have entered into the above agreement on the basis that they stand by the offer, contained in paragraph 6 of the Anglo-French proposals of the 19th September, relating to an international guarantee of the new boundaries of the Czechoslovak State against unprovoked aggression. † (Hitler, Daldier, Chamberlain, and Mussolini. ) Daladier and Chamberlain believed Hitler, falling victim to his lie. Obviously this was not Hitler’s last territorial demand. â€Å"Make the lie big, make it simple, keep saying it, and eventually they will believe it. † (Hitler). Appeasement failed, making Britain and France look weaker and Germany stronger for free basically. Germany becoming stronger was caused by failure of appeasement, in turn causing World War II. World War II was caused geographically by different factors: Japan exercising imperialism; the Treaty of Versailles’ land stripping-condition; and finally the positioning of the United States compared to Europe and Asia. Japan wanted to expand its empire. Examples would be when they invaded Manchuria and French Indochina. Another would be when Pearl Harbor was attacked, an attempt to destroy the US Naval base, in order to later take over the Hawaiian Islands and expand its imperial influence in the Pacific. â€Å"When reflecting back on it today, that the Pearl Harbor attack succeeded in achieving surprise seems [like] a blessing from heaven. † (Tojo). After Japan invaded French Indochina in 1941, the US stopped trading with them. This angered Japan military leaders. The result was then a loss of oil from the US, forcing Japan to make the decision to take over the Dutch East Indie oil fields. This contributed to the anger that started World War II. The Treaty of Versailles geographically fueled World War II because it stripped Germany of all its colonies and outlying territories. â€Å"It lost land to a number of other countries. Alsace-Lorraine was returned to France, Eupen and Malmedy were given to Belgium; North Schleswig was given to Denmark. Land was also taken from Germany and given to Czechoslovakia and Poland. The League of Nations took control of Germanys colonies. † (Wheeler). Losing all of these weakened Germany’s imperial power and created anger within the people. â€Å"In territory outside her European frontiers as fixed by the present Treaty, Germany renounces all rights, titles and privileges whatever in or over territory which belonged to her or to her allies, and all rights, titles and privileges whatever their origin which she held as against the Allied and Associated Powers. † (Treaty of Versailles: Article 118). This contributed to the start of World War II. The US is approximately 10,000 miles from Europe across the Atlantic Ocean. Japan is across the Pacific Ocean. The US is in the middle. The US didn’t get involved in the war earlier because they didn’t want to fight a war on two fronts. This lack of involvement from the US caused the Axis Powers to gain strength and leverage against the Allies with the amount of land that was taken over before the US got in the war. World War II is similar to the current conflict in North Korea. After World War I was over, time went by with tension still in Germany, as stated earlier about the Treaty of Versailles. The Korean War ended in 1953, but there is still anger present in North Korea. The anger is resulting in North Korea threatening to develop nuclear weapons. The development and potential use of those would result in worldwide damage and chaos. Tension was developed both by North Korea and Germany both after major wars, (World War I and the Korean War). Germany’s tension resulted in World War II; hopefully North Korea’s won’t result in anything similar. Another similarity between these two conflicts is the inhumane treatment and labor camps. During World War II there was concentration camps. People were tortured, overworked, malnourished, and eventually killed or died from the previous conditions. There were 24 major concentration camps spread around the â€Å"Third Reich†. Oddly enough, there are 25 active major prison camps in North Korea. In these camps, people die from disease, torture, starvation, and execution. â€Å"So far 400,000 people have died within these camps† (One Free Korea). Like the German concentration camps, there have been reports of gas chamber use and human experimentation in Korean camps. â€Å"In Auschwitz, there were a total of 1. 1 million people who entered† (One Free Korea). In Camp 14, a Korean slave labor camp, there are almost 200,00 people and it is growing. These numbers have a large difference, but in terms of the amount, they are both very high numbers. â€Å"Fundamentally, it is the same as Hitler’s Auschwitz. †(Kang, Korean War). After World War II, psychoanalyst Walter Langer studied Adolf Hitler. Recently, other scientists used his research and the Diagnostic and Statistical Manual of Mental Disorders, which is the American Psychiatric Association’s standard for official psychiatric diagnoses. They came up with an evaluation of Hitler. His consensus profile said he was very paranoid, antisocial, narcissistic, and sadistic. Hitler was predicted to be schizophrenic. The same scientists also studied Saddam Hussein. They studied Kim Jong Il too. Kim Jong Il was North Korea’s dictator from 1994 till his death in 2011. In Il’s consensus profile, he came up with the same traits as Hitler: paranoid; antisocial; narcissistic; and sadistic. (Coolidge and Segal). This proves that both of these dictators are similar in the psyche. If they are similar in their traits, then most likely their actions are similar. In conclusion World War II was caused by many factors. It was caused psychologically by Hitler’s words and actions; the idea of Anti-Semitism and its influences; and the rise in totalitarianism all over Europe. Politically: World War II was caused by the Treaty of Versailles and what it entailed; the weakness and eventual failure of the League of Nations, and appeasement not working. Geographically: it was caused by Japan’s imperialistic ideals and actions; the geographical part of the Treaty of Versailles; and the United States placement on the globe. Today, World War II is oddly similar to the conflict in North Korea. Reasons to support this would be the similarity of growing tensions over time after an initial conflict; concentration and labor camps in both conflicts; and the two dictators psychoanalysis results conforming to each other. World War II was an awful tear on the world’s pristine but painted canvas, and it has influenced a grand amount of ways, customs, and policies today. It has resulted in the creation of so many organizations, world peace efforts, and preservations of history. World War II is and always will be remembered as one of the globes greatest wars.

Berkshire Hathaway Phenomenon In the Context of Modern Finance Theory Essay Example for Free

Berkshire Hathaway Phenomenon In the Context of Modern Finance Theory Essay Berkshire Hathaway Phenomenon In the Context of Modern Finance Theory Septtember 2013 Berkshire Hathaway Phenomenon In the Context of Modern Finance Theory Introduction Over the 46 years ending December 2012, Warren Buffett (Berkshire Hathaway) has achieved a compound, after-tax, rate of return in excess of 20% p.a. Such consistent, long term, out performance might be viewed as incompatible with modern finance theory. This essay discusses the Berkshire Hathaway phenomenon in the context of modern finance theory. Part 1 Modern Portfolio Theory Berkshire Hathaway’s investing strategies mainly differ with modern portfolio theory on two aspects. The first one is the attitude towards the undesirable thing in investment. And the second one is the perspective of diversification. As Harry Markowitz pointed out in Portfolio Selection, one of the assumptions is (Markowitz, 1952)â€Å"the investor does (or should) consider expected return as a desirable thing and variance of return an undesirable thing†. However, in Warren Buffet’s point of view, (Roberg G, 2005) the only undesirable thing should be the possibility of harm. He emphasizes on conducting fundamental analysis to work out a company’s future profits, so as to determine the intrinsic value instead of monitoring the stock prices. This is because in the long term, the investment outcome is mainly harmed by misjudging the business value, including misjudging of inflation rate and  interest rate etc. As such, risk is defined differently between Mr Buffett and Modern Portfolio Theory; one is defined by possibility of misjudging the  intrinsic value of business, the other being simplified to variance of expected returns. If we consider risk as a probability statement, then maybe Mr B uffett’s definition is closer to the original meaning. Also, the assumption of maximising one-period expected utility is not what Buffet focuses on in his investment strategies. (Roberg G, 2005)In this case, Justin Industries, which was acquired by Berkshire Hathaway in 2000, can serve as a good example. During the five years prior to the acquisition, stock price of Justin Industries dropped by 37 percent, which should result in a huge variance of expected return. But Mr Buffett saw it as a perfect opportunity to purchase a well-managed traditional business with over 100 years of history. He offered a 23 percent premium over stock price at the time, and the stock price shot up by 22% on the day of announcement. It is also stated by Markowitz that, (Markowitz, 1952)â€Å"a rule of behaviour which does not imply the superiority of diversification must be rejected both as a hypothesis and as a maxim†. On the contrary, Mr Buffett has his famous quote, (Roberg G, 2005)â€Å"diversification serves as a protection against ignorance. If you want to make sure that nothing bad happens to you relative to the market, you should own everything. There is nothing wrong with that. Its a perfectly sound approach for somebody who doesnt know how to analyse business†. One can always argue that Berkshire Hathaway does not operate in only one industry, and they tend to invest in more industries in recent years. But as the business grows in volume, it is reasonable to be involved in new industries when there are few sound investment opportunities in the industries they already operate in, let alone that the technology industry was rarely in the list of holdings of Berkshire Hathaway, not even when Apple’s stock was soaring. The reason being, (Roberg G, 2005)â€Å"investment success is not about how much you know but how realistically you define what you dont know†. Chart 1 (Martin Puthenpurackal, 2007) Distribution of Berkshire Hathaway Investments by Industry The chart above shows distribution of Berkshire Hathaway’s investments by industry and firm size during the time frame 1976-2006. Judging by the size and number of investments, it can be concluded that a large amount of wealth was placed in manufacturing industry during the 30 years in study, although for diversification purpose, more weight could have been placed in the industry of agriculture, forestry and fishing, construction or retail trade. Having compared the differences, it is still worth noting that Markowitz did not rule out fundamental analysis in portfolio selection process, as is said in his foregoing paper,(Markowitz, 1952)â€Å"the process of selecting a portfolio may be divided into two stages. The first stage starts with observation and experience and ends with beliefs about the future performances of available securities. The second stage starts with relevant beliefs about future performances and ends with the choice of portfolio. This paper is concerned with the second stage†. Part 2 Efficient Market Hypothesis The strong form of efficient market hypothesis states that all information, no matter public or private, instantaneously affects current stock price. Semi-strong form is only concerned with public information, while the weak form suggests that current stock price reflects information in the previous prices. In short, they simply imply that in the long run, no one should be able to beat the market in terms of investment return. As is said in Fama’s paper in 1970, (Eugene F, 1970)â€Å"the evidence in support of the efficient markets model is extensive, and (somewhat uniquely in economics) contradictory evidence is sparse†. However, Warren Buffet has always criticised efficient market hypothesis as much as he could. The major  reason is that, as a fundamental analysis advocate, (Roberg G, 2005)he thinks analysing all available information make an analyst at advantage. He once said, (Banchuenvijit, 2006)†investing in a market where people believe in efficiency is like playing bridge with someone who has been told it does not do any good to look at the cards.† Also in his speech at Columbia University in 1984, he mentioned, â€Å"ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace, and those who read their Graham Dodd will continue to prosper.† (Roberg G, 2005)To illustrate, we can take Berkshire Hathaway’s acquisition of Burlington Northern Santa Fe Corp. in 2009 for example. At the time, shares of Burlington Northern had dropped 13 percent in 12 months. Also, the market was soft during GFC, so the possibility of competitive bids was low according to Tony Russo, a partner at Gardner Russo Gardner, which holds Berkshire shares. If efficient market hypothesis does stand, the market would rebound quickly when GFC took place, and such opportunity of relatively low-priced acquisition would not exist. Even if it exists, other investor should anticipate quick upward adjustment of price and participate in bidding when they find out about this opportunity. However, this does not prove that fundamental analysis is superior, because intrinsic value is not yet clear defined, and how does Mr Buffet calculate the intrinsic value is still a mystery. Part 3 Capital Asset Pricing Model When examining assumptions of Capital Asset Pricing Model, it is obvious that Mr Buffett is at odds with almost every one of them. Firstly, the model assumes that all investors are Markowitz efficient, but as mentioned earlier, Mr Buffett does not treat variance of expected return as an absolute drawback, so the second rule that Markowitz Efficiency must follow does not stand. Secondly, the model is backed by the assumption that investors have  homogeneous expectations and equal access to opportunities, which suggests that everyone is supposed to have the same view of future profit stream. However, as a recent paper pointed out, (Frazzini, et al., 2013)Mr Buffett’s return is largely due to his selection of stocks. If everyone has the same view with Mr Buffett and the same access to the investment opportunities, then if not everyone, a large number of people should be as rich as Mr Buffett, when the reality is the opposite. So Mr Buffett would not agree with this assumption either. The third assumption is that capital markets are in equilibrium, which is practically what only efficient markets can achieve, which, as discussed above, is not in line with Mr Buffett’s view point. The final one, which is that Capital Asset Pricing Model only works within one period time horizon, is apparently against Mr Buffett’s long-term holding strategy. Apart from model assumptions, one of the strongest contradictions between Mr Buffett’s view point and Capital Asset Pricing Model is that the model is for short-term predicting purpose, which would clearly be categorised into (Roberg G, 2005)â€Å"speculation† instead of â€Å"investment† by Mr Buffett. In addition, â€Å"market portfolio† is not of practical use, compared with Mr Buffett’s way of only analysing businesses he is familiar with, because the market portfolio we use cannot truly represent the entire market. Part 4 Multi-factor Pricing Models Unlike Capital Asset Pricing Model, which has only one factor, in Multi-factor Pricing Models, such as Arbitrage Pricing Theory and Fama-French three-factor model, the rate of return is linked to several factors. As diversification is still suggested by the model, the same divergence on diversification exists with Mr Buffet’s strategies and Multi-factor Pricing Models. Moreover, differences also lie in the fact that multi-factor models usually take in some macroeconomic factors, which investors should not consider according to Mr Buffett, (Roberg G, 2005)the rationale being that if a single stock price cannot be predicted, the overall economic condition would be more difficult to predict. Despite the differences, some micro factors included in the multi-factor model, such as P/E ratio and book-to-market ratio, can also be used to conduct fundamental analysis to determine the intrinsic value and possibility of growth of a business. As such, the ideas of which factors to take into account can coincide within the two different approaches. Chart 2(Martin Puthenpurackal, 2007) Factor Regressions of Berkshire Hathaway and Mimicking Portfolios In a paper by Gerald S. Martin and John Puthenpurackal, they conduct a regression analysis using Fama-French three-factor and Carhart four-factor models on monthly returns of Berkshire Hathaway and mimicking portfolios. (Martin Puthenpurackal, 2007)The adjusted excess returns turn out to be significant with p-values 0.024; the excess market return and high-minus-low book-to-market factors are again significant with p-values 0.01. However, small-minus-big and prior 2-12 month return momentum factors are not significantly explanatory factors. As such, preliminary conclusion can be reached that book-to-value highminus-low can be a common factor in both multi-factor models and Mr Buffett’s fundamental analysis. In addition, the factors of firm size and momentum are not likely to be considered by Mr Buffett. Also, both Berkshire’s and mimicking portfolio’s returns outperform the multi-factor models in study. (Bowen Rajgopal, 2009)But as is pointed out in another thesis, the superior performance is attributed to the earlier years and they observe no significant alpha during the recent decade. Part 5 Black-Scholes Option Pricing Model According to Berkshire Hathaway’s letter to shareholders in 2008,(Buffett, 2008)their put contracts reported a mark-to-market loss of $5.1 billion, and this led to Mr Buffett’s â€Å"criticism† towards the Black-Scholes formula as is claimed by the media. However, the loss was in fact caused by inclusion of volatility in the formula when volatility becomes irrelevant as the duration before maturity lengthens. As Mr Buffett said in the letter,(Buffett, 2008)if the formula is applied to extended time periods, it can produce absurd results. In fairness, Black and Scholes almost certainly understood this point well. But their devoted followers may be ignoring whatever caveats the two men attached when they first unveiled the formula. As such, Mr Buffett’s comment on Black-Scholes formula is more of self-criticism than the other way around. This is reflected in his earlier comment on performance in the letter,(Buffett, 2008)†I believe each contract we own was mispriced at inception, sometimes dramatically so. I both initiated these positions and monitor them, a set of responsibilities consistent with my belief that the CEO of any large financial organization must be the Chief Risk Officer as well. If we lose money on our derivatives, it will be my fault.† We can understand why Mr Buffett gave this â€Å"fair† comment about the formulae when referring to the Black-Scholes paper,(Black Scholes, 1973)†if the expiration date of the option is very far in the future, then the price of the bond that pays the exercise price on the maturity date will be very low, and the value of the option will be approximately equal to the price of the stock. â€Å" Mr Buffett also commented that (Buffett, 2008)†The Black-Scholes formula has approached the status of holy writ in finance, and we use it when valuing our equity put options for financial statements purposes. Key inputs to the calculation include a contract’s maturity and strike price, as well as the analyst’s expectations for volatility, interest rates and dividends† and that â€Å"even so, we will continue to use  Black-Scholes when we are estimating our financial-statement liability for long-term equity puts. The formula represents conventional wisdom and any substitute that I might offer would engender extreme scepticism†. Despite Mr Buffett’s confession, a scholar studied the letter and reached a different conclusion why the loss was made:(Cornell, 2009)He first ruled out risk-free rate, inflation rate and drift and focused on volatility, which is consistent with where Mr Buffett thought he made a mistake. The lognormal diffusion assumption, which implies that volatility increases linearly with respect to the horizon over which it is measured, was discussed at length with controversial evidence. As such, its misuse is not a strong explanation regarding the absurd results. He then found out in the letter that Mr Buffett believed that inflationary policies of governments and central banks will limit future declines in nominal stock prices compared with those predicted by a historically estimated lognormal distribution. If Mr Buffet is right, then the Black-Scholes model will indeed significantly overvalue long-dated put options, to which a possible solution is making the left-hand tail truncated to reduce the value of long-dated put options. Summary Throughout this essay, we have discussed the common views and divergences between Mr Buffett’s investment strategies and Modern Finance Theories. Now we summarize the main points as follows: Common views Divergences Black-Scholes Option Pricing Model Modern Portfolio Theory Efficient Market Hypothesis Capital Asset Pricing Model Multi-factor Models Chart 3 Common Views and Divergences between Modern Finance Theory and Mr Buffett’s Strategies Modern Finance Theories Modern Portfolio Theory Divergences with Warren Buffet 1. Risk Defined as Volatility 2. Short Investment Horizon 3. Diversification Efficient Market Hypothesis Capital Asset Pricing Model Reliability of Fundamental Analysis 1. Markowitz Efficient Investors 2. Homogeneous Expectation and Equal Access to Opportunities 3. Markets in Equilibrium 4. Short Investment Horizon 5. Predicting Function Leads to Speculation 6. Impractical â€Å"Market Portfolio† 7. Diversification Multi-factor Models 1. Macro Factors 2. Diversification Chart 4 Detailed Divergences between Modern Finance Theory and Mr Buffett’s Strategies Bibliography Banchuenvijit, W., 2006. Investment Philosophy of Warren E. Buffet, Bankok: The University of Thai Chamber ofCommerce. Black, F. Scholes, M., 1973. The Pricing of Options and Corporate Liabilities. The Journal of Political Economy, 81(3), pp. 637-654. Bowen, R. M. Rajgopal, S., 2009. Do Powerful Investors Influence Accounting, Governance and Investing Decisions?, Washington D.C.: University of Washington. Buffett, W. E., 2008. Letter to Shareholders, Omaha: Berkshire Hathaway, Inc.. Cornell, B., 2009. Warren Buffet, Black-Scholes and the Valuation of Long-dated Options, Pasadena: California Institute of Technology. Davis, J., 1991. Lessons from Omaha: an Analysis of the Investment Methods and Business Philosophy of Warren Buffett, Cambridge: Cambridge University. Eugene F, F., 1970. Efficient Capital Markets: A Review of THeory and Empirical Work. The Journal of Finance, 25(2), pp. 383-417. Eugene F, F. Kenneth R, F., 1992. The Cross-Section of Expected Stock Return. The Journal of Finance, XLVII(2). Markowitz, H., 1952. Portfolio Selection. The Journal of Finance, VII(1), pp. 77-91. Martin, G. S. Puthenpurackal, J., 2007. Imitation is the Sincerest Form of Flattery: Warren Buffett and Berkshire Hathaway, Reno: University of Nevada. Roberg G, H., 2005. The Warren Buffet Way. 2 ed. Hoboken: John Wiley Sons, Inc.. William F, S., 1964. Capital Asset Prices: A Theory of Market Equilibrium under Conditions of Risk. The Journal of Finance, 19(3), pp. 425-442.

Coffee Plantations in Wayanad

Coffee Plantations in Wayanad The coffee production in Kerala accounts to about 28 % of the overall coffee production in South India which includes the three states Karnataka, Tamil Nadu and Kerala. The coffee production is mainly suited to grow in the hilly tracts of these states with Karnataka accounting to the majority of coffee production a whopping 53% of a total production of 8200 tonnes (Year 2010 figures). The coffee production in Kerala is around 23 % of the countrys total coffee output which makes it the second largest coffee-producing state in India. Wayanad, a popular district in Kerala produces almost around 90 % of the states coffee produce which literally concludes that the coffee economy of Kerala is highly correlated with the coffee economy existing in Wayanad. Our study plans to analyze and evaluate the agricultural farming practices adopted by the farmers in Wayanad, a district situated in the north-east of Kerala, and very popular for the coffee plantations and tea estates growing in this region. In this section, we will however be concentrating with the existing farming methods and the scope of natural farming in the area of coffee plantations. We will first discuss about the topography of Wayanad and how it suits to the growth of coffee on an extensive scale, followed by the existing farming practices of coffee and the contribution of NGOs , co-operative societies and self help groups in educating the farmers about the modern eco-friendly methods of farming. Finally, we will analyze and evaluate the scope of natural farming in the area of growth of coffee plantations in Wayanad and how it will improve the value chain from the farmers perspective. About Wayanad Topography Wayanad, the 12th district formed in Kerala, which is also called The Land of Paddy Fields is located in between the boundaries of the Kozhikode and Kannur districts. The region is located on the top of the majestic Western Ghats and its altitude range from approximately 700 meters to as high as 2100 meters. A large part of the regions population comprises of the indigenous tribal communities. The region is full with densely populated high-standing hilly terrains, mountains (Chembra Peak), lakes (the beautiful Pookot Lake), waterfalls and dams (Banasura Sagar Dam) as an attractive location for tourists. Climate Wayanad being distant from the mean sea level and densely covered by forests provide a very pleasant climate. Typically the temperature variations are reported to be in the range of 18 to 28 degree centigrade. The average rainfall received in the region is around 2500 millimeters per year. As a result of a high extent of presence of both sunlight and rainfall, the agricultural land in this region is very fertile. Wayanad due to its extensive scope of agricultural farming has been reported to be holding a position amongst the 18 real agribiodiversity hotspots situated in the globe. Rivers Most of the Wayanad district is situated close to the river Kabini (an important tributary of the river Kaveri) along with its three tributaries namely, Panaraman, Kalindy and Mananthavady rivers. Dams such as the BanasuraSagar Dam and aqueducts have also been built in the region with the sole purpose of supplying water to the drought stricken regions in the district. Economy Speaking about the economy of Wayanad, majority of the regions economy is based on agriculture as can be implied by the meager figure of 3.79 % of the districts population being urbanized. The main cash crops growing in the region are coffee, tea, plantain, pepper, vanilla and cocoa. Apart from these crops, another important and essential cash crop growing in the Wayanad region is rice. Although there has been an agrarian crisis due to the increase in lower prices of the locally-grown cash crops such as coffee, ginger, pepper, etc. , yet it has been noted that there is an increasing trend in the price of agricultural land in Wayanad. The geographical description of the territory covers a vast portion with agricultural land, roughly 54 % of the districts area. Around 37% of the territory is covered up with densely populated forests. One of the main cash crops growing in the region apart from tea is coffee which has two main varieties of coffee plantations. Coffee Arabica, the premier coffee and Coffee Robusta, the low-quality coffee which well suits the environmental conditions originating in Wayanad are the two main varieties of coffee growing in this district. However, majority of the coffee growing in this region is of the robusta variety which accounts to approximately 95 % of the total coffee production in Wayanad. The capacity of land occupied by coffee plantations in terms of agricultural land area amounts to around 58 %, numerically around 110,000 hectares. It has been reported that around 80 % of the total coffee produced in Kerala comes from Wayanad. Population The population extent in Wayanad counts to roughly around 800,000 people with more than 80 % of the population being majorly dependent on agriculture. The majority of the coffee growers in Wayanad are small and marginal farmers which account to more than 90 % with more than 60 % of the land holders occupying less than one hectare of land. The average landholding size of a farmer in the district has been found to be approximately 0.68 hectares. As already discussed earlier, a large chunk of the Wayanad population consists of tribal communities with almost 17 % of the states tribes residing in Kerala. The tribal communities also have a significant role to play in agriculture. Infrastructure Wayanad passes through the Calicut, Mysore and Bangalore connectivity via road. The closest railway station and airport is situated in Calicut which is around 100 kms from Wayanad. With the advancement of technology and infrastructure services, the district has good network coverage and internet connectivity apart from a robust post office network and availability of courier services. Moreover, no power scarcity problems have been reported in the region. Farming Methods of Coffee In order to understand the farming methods of coffee adopted in different regions of Wayanad, we have conducted a personal interview with senior members of existing non-profit organizations (NGOs) operating in that district. We have also performed a thorough literature research on the farming methods of coffee, the constraints faced by the farmers if any and the scope of natural farming given the existing constraints such as high cost of production, scarcity of skilled and unskilled labour, etc. The specific objectives we have tried to cover in this section include the following:- Analysis of the coffee production costs and the revenue structure Identifying the most significant determinants which impact coffee yield Analyzing the relationship between farm-size holdings and the farms coffee output efficiency Performing a comparative analysis of the evaluation of the labor-absorption capacity on coffee produce as compared to other cash crops (tea, rice) produce Dependency of farming methods on the extent of fluctuation in coffee prices Impact of climatic conditions on yield of coffee and scope of pests and coffee-related diseases and their impact on coffee productivity Understand, analyze and evaluate the participation of regional institutional agencies such as the Regional Research Coffee station in Wayanad ( popularly known as the Coffee Board) and Krishibhavan on methods of coffee cultivation Our study of coffee cultivation methods mainly spans around farmers originating from three different regions across Wayanad namely Sulthan Bathery, Nenmeni and Noolpuzha. Our reason for choice of these three gram panchayats is due to the majority of the farmers originating from these regions having coffee cultivation as their predominant cash crop and hence source of cultivation. Most of the coffee cultivation takes place in Noolpuzha among the three gram panchayats with 2900 hectares of land available for coffee plantations while around 1500 and 1200 hectares of land is available in Sulthan Bathery and Nenmeni respectively. As per the definition of a farmer by the Coffee Board in Wayanad, small and marginal farmers typically have a farm land of less than 5 acres i.e. two hectares whereas large farmers are holding huge coffee estates of land size more than 10 acres. The current division of farmers in Wayanad based on this classification suggests that roughly 90 % of farmers fall in t he category of small and marginal farmers. The general method of harvesting coffee includes the following three steps in a sequential manner:- Plucking the coffee seeds from the coffee gardens by using charged labour where natural farming techniques are more desirable. Use of pesticides and fertilizers is minimal. Drying these seeds in the drying gardens for atleast 1 to 1.5 weeks where the coffee seeds are kept for drying under the sun. Finally bagging of raw coffee is done after drying where the general standards practiced in Wayanad define one bag of coffee to contain around 54 kgs of coffee. Including the weight of the bag typically to be one kg, each bag of coffee weights around 55 kgs and this harvested coffee is then sold off to local traders at prices which are commensurate with the local coffee market existing in Wayanad. Types of Coffee There are mainly two varieties of coffee i.e. Coffee Arabica and Coffee Robusta. During the mid nineteenth century (1825-1869), the mainly cultivated coffee variety was Arabica as it had more beverage value and hence fetched higher coffee prices in the domestic as well as international markets. However, this variety of coffee was more vulnerable to pests and diseases and eventually the large coffee estates producing this variety were left abandoned as the crops perished due to the threats prevailing from major pests existing in that period such as white stem borer, leaf rust and green bug. During the later half of the nineteenth century, the Robusta variety of coffee became more popular in Wayanad. One of the major reasons for shifting to this variety was that Robusta can withstand against threats arising from existing as well as new coffee-related pests and diseases. Currently, Robusta coffee produce is more than 95 % of the total coffee cultivation done in Wayanad. As an approach t owards natural farming, the farmers generally grow coffee plantations under the shade of spice plantations mainly pepper so that the cash crop can be protected against pests and other diseases generated in the soil. However Arabica coffee which accounts for less than 3% of the total coffee produce in Kerala is also grown in hilly terrains mainly confined to the high altitude regions comprising the districts such as Kozhikode, Palakkad, Idukki and Kannur. Cropping Pattern The small and marginal farmers generally follow a mixed cropping pattern wherein coffee is produced along with other cash crops such as pepper, arecanut and banana. Some of the reasons for these farmers going for a mixed cropping pattern instead of mono cropping are:- Livelihood: Agricultural income being the only source of income for this section of farmers, land is the most precious asset they possess. However in recent years, it has been reported that due to a very high fluctuation of coffee prices in the markets, farmers have suffered from high financial losses by being solely dependent on only one cash crop i.e. coffee. Hence the farmers have decided to utilize their vacant land on other high priced cash crops such as pepper which would act as an alternative source of income for them. Moreover crops such as pepper and banana would provide shade to coffee plantations and act as a mode of natural farming methodologies adopted to protect against arising threats from existing as well as new pests and coffee related diseases. As per the sources we interviewed, the fluctuations in coffee price last year i.e. in 2010 were controllable though, which was within the range Rs. 1900 to Rs. 2500 per kg of coffee. The harvesting period of coffee which generally starts in the month of December and is set to close in February is almost over and as per our sources; the average price of coffee in Wayanad is trading at Rs. 3000 per kg. Farm size:- The farm size and land holdings being relatively smaller for marginal farmers as compared to large estate farmers makes it advantageous for them to adopt a mixed cropping fashion. This is because they dont follow any systematic method of planting saplings in arrays which ensures that there is still enough scope of planting maximum plants per area due to the inadequate stocking method followed. However, the conversion process is very difficult for large estate farmers because the area of land under mono-cropping is huge. Labour availability:- The labour availability for small farmers is majorly in the form of domestic labour i.e. labour resources are the members of the family and mainly the cash crop cultivator who is the owner of the land. However, in case of large farm estates, the labour resources are typically the paid labours who are generally also the members of organized trade unions operating in Wayanad. Several cases have been reported of undying resistance from such trade union members against mixed cropping in large farm estates due to the fear of losing employment. As per one of the sources who is a member of the M.S. Swaminathan NGO operating in Wayanad, the labour charge for plucking coffee from coffee gardens is priced via two different pricing mechanisms. Hourly basis charge wherein a labour typically charges around Rs. 150 200 per hour. Plucking capacity basis wherein labour required for plucking per kg. of coffee is charged roughly Rs. 1.50 2.50. However, labour charges vary from place to place in different regions of Wayanad. The table represented below shows the recent numbers in variation of mixed crop cultivation implemented in Wayanad. The results from the table clearly indicate that marginal farmers had been more enthusiastic to shift their cropping pattern from coffee to pepper. The major cash crops which replaced coffee are pepper, tea and arecanut as shown by the table mentioned below. Cost of Coffee Production Coffee production being highly labour-intensive encounters a very high cost of production which has become one of the primary reasons for small and marginal farmers to shift from coffee to alternative higher revenue generating cash crops such as tea, pepper and arecanut. The usage of manual labour in the process of coffee cultivation can be attributed to the following sequentially adopted sub-processes mentioned below:- Activity of controlling weed which is usually done thrice a year. The women labourers in Wayanad are typically engaged with the control of this agricultural activity wherein they cut and remove the weeds manually using sickles Activity of upturning the soil with manual labour using a spade is usually done twice a year Activity of applying manures such as cow dung and fertilizers is done twice a year Activity of pruning where the undesired parts of the coffee saplings are ripped off is typically done twice a year Activity of final coffee bean collection at the time of harvest during the month of December to February is done by hand-picking which is usually carried out once a year Activity of applying pesticides and insecticides to protect against germs is also done once a year. This activity increases the cost of labour by a huge extent given the embedded cost of pesticides which is also charged along with the cost of applying it with the soil. The costs related to all these activities can be termed as the current expenses which are currently found to be in the range of Rs. 35,000 40,000 per hectare. Moreover, large estate farmers who install sprinkler irrigation systems or drip systems incur a much higher cost due to the large investments involved with these systems. The initial cost associated with raising a new coffee farm altogether would include the current expenses of the initial four years from the start of preparing the farm. This is because from the generally seen trend, it has been found that coffee plants usually start producing sufficient yield from the fourth year of planting. Constraints faced by farmers There are many constraints faced by the coffee-producing farmers in Wayanad which makes it more difficult for them to adopt coffee-farming as the one and only mode of family income. Some of them are:- Scarcity of labour is a major concern and given the intensity of labour required for adopting more of natural farming methods in coffee cultivation all throughout the year, this problem should be resolved by providing better opportunities to both labourers (who need to be paid reasonable income for their employment in coffee gardens) and farmers (who need to generate a decent income to pay off the labourers well). The scarcity of labour has thus resulted in a very high cost of labour charged which along with the huge coffee price fluctuations makes it all the more worrying for the coffee-cultivating farmers. The farmers do not possess any market knowledge about what the coffee prices are in the domestic and international markets. Their only network within the coffee chain is with the local traders or middlemen whom they sell the coffee produce in bags typically containing roughly 54 kgs of coffee. The M.S. Swaminathan NGO operating in Kalpetta, Wayanad currently only provides training and demonstration on ways of efficient coffee cultivation. Their primary function is to teach the farmers the various methods of coffee-capacity building. They also provide the farmers the opportunity to take certifications regarding coffee cultivation practices but given the limited source of income from coffee cultivation, most of the farmers except the large farmers do not avail this opportunity of taking farm-related certifications. However, they dont provide any financial help to the farmers. The funding support provided by the farmers is majorly provided by nationalized banks such as State Bank of Travancore and other district co-operative banks which provide loans at lower interest rates compared to the market rates. However, there are a lot of hidden cost charges in the loan which makes a loan very expensive during the time of settlement. So, the small and marginal groups of farmers have very little scope of negotiating their selling prices with the local traders as their urgent requirement for liquid cash to pay off their loan installments makes them more anxious. Adding to that, these group of farmers do not have any warehouses of their own to keep the harvest and sell them off when the local market offers higher coffee prices. The cost of carrying inventory in warehouses possesses an impounding effect along with the existing interest charges taken due to loans availed earlier. However, large estate farmers having the advantage of possessing economies of scale for co ffee cultivation in Wayanad, some of them do have their own warehouses and hence are able to make higher revenues than that of small and marginal farmers. Moreover, the farmers having lack of co-operation amongst themselves have not been involved in collaborative decision-making to form co-operatives for a better cause. Microfinance institutions are also not working in Wayanad, which makes the availability of funds more costly. The farmers are not in any way directly connected to the wholesalers or retailers of the coffee market. This makes the middlemen to pocket much of profit which could have otherwise been a part of the farmers profit. The NGOs also dont provide any help and assistance to increase the networking potential of farmers connecting them directly to the end-sellers in the market, thereby cutting out the need of middleman in the coffee chain. The main reason could be the strong lobbying from the local traders which makes their participation in the coffee chain inevitable. Lack of adoption of natural and eco-friendly methods such as rain water harvesting due to the excess costs incurred in implementing it. Although there have been certain government schemes to promote rain water harvesting in Kerala which are rare, the farmers being unaware of such schemes actually have not been able to avail them. Moreover lack of co-operation among the farming community creates hindrances in active engagement of such environmental friendly schemes. Conclusion After conducting a thorough research analysis of the coffee cultivation methods in Wayanad, we have tried to identify the major problems encountered by the farmers in adopting natural farming methods at the grassroot level. Although most of the sub-agricultural activities related to the coffee cultivation are done through natural farming instead of organic farming, still the farming method is not entirely natural. This is because of the following reasons listed below:- Organic farming although increases the cost of coffee cultivation by a certain extent, is a proper mechanism to fight against pests and insurmountable diseases. It also brings along with the flavor highly regarded in the coffee market. Coffee cultivation being a major source of income, farmers gives strong emphasis to the farming technology used so that they can maximize their income as much as possible. Simple natural farming technology needs much more labour than that for organic farming which makes it all the more costly given the high costs of labour in Wayanad. However, with proper guidance from NGOs about the modern methods of natural farming which are highly efficient and the availability of cheap labour, the farmers can incorporate natural farming in the long run which would be a beneficial cause from all angles. Interviewees The following people who have been interviewed have provided extensive support in revealing necessary information for completion of our social development project. They are:- Name:- N. Gopalakrishnan, Farm Manager of M. S. Swaminathan Research Foundation (NGO) Office: Puthorvayal, Kalpetta, a small town in Wayanad Cel No:- +91- 96561-02590 Kindly ask Anil to add three more names including the One whom he has interviewed. Please follow the above format

Let Us Grieve for the Women of Salem Essay -- Arthur Millers The Cruci

Featured in Arthur Miller’s The Crucible is a powerful dynamic between the levels of a maintained social hierarchy. There are shifts in the social hierarchy in the town of Salem even though the social hierarchy has been maintained and has existed for a long length of time. The attempts on this maintained structure are met with powerful retaliations that draw in all the members of the town of Salem, resulting in the deaths of many woman and men in the town. The Crucible reflects on the historical context of this struggle and shows what would happen if the status quo were changed. The play presents what people would do in order to hold on to the power that they are slowly losing through false pretense. The Salem witch trails were a society’s way of attempting to maintain a structure they are used to, using hysteria to help them grasp onto a dying conscience they once had and to explain what could not be explained. Today, the issues that are presented in this play, the so cial hierarchy and what is done to maintain it, still exist. The University of Toronto – Scarborough Campus’s theatre company performed The Crucible. The production followed Arthur Miller’s play showing the audience the fear and hysteria that ran through Salem during the witch trails. The importance of religion was evident just as the play opens up to hearing a prayer being spoken. Themes of paranoia, religion, and McCarthyism were present throughout the presentation. The overall acting and set provided the audience with a more intimate viewing of what happened throughout the Salem witch trails. The Crucible follows the events that occurred before and during the Salem Witch Trials. John Proctor, the protagonist of the play has to fight the hysteria that has t... ...Social welfare policy from colonial times to the present. South End Press, 1996. Web. 3. Apr. 2014. Jenrette, Jerra, et al. "Teaching the Salem witch trials through place and time." Historical Journal of Massachusetts 40.1-2 (2012): 212+. Academic OneFile. Web. 3 Apr. 2014. Kocić, Ana. "Salem Witch Craft Trials: The Perception of Women in History, Literature and Culture." Facta Universitatis 3.1 (2010): 17. Print. Miller, Arthur. The Crucible. N.p., 1953. Print. Miller, Arthur. "Why I Wrote The Crucible: An Artist's Answer to Politics." The New Yorker27 Oct. 1996: n. pag. Print. The Crucible. By Miller. Dir. Paula Sperdakos. Leigha Lee Browne Theatre, UTSC. Friday, March 21, 2014. Performance. Schissel, Wendy. "Re(dis)covering the Witches in Arthur Miller’s The Crucible: A Feminist Reading." Bloom's Modern Critical Interpretations (2008): 55-67. Print.

How can we protect our private information from others? Essay -- Commu

During my brother’s freshman year at TCU, he made the decision to join ROTC, a college military program that TCU offered its’ students in which the students would receive a full tuition scholarship if they joined. However, my brother did not want to disclose this information to our whole family and unfortunately I was unaware of this when my mother and I arrived at TCU for an unexpected visit. Upon the arrival of my mother and me, I fortuitously made the mistake of revealing my brother’s decision to join ROTC, which as a result enraged my mother to a new height. She was infuriated with the fact that my brother kept this important information from her. Due to this unintentional spilling of my brother’s private information, it took him a long time for him to conceal his private information to me and to trust me with his secrets. Conversely, through the research I have conducted on Sandra Petronio’s Communication Privacy Management Theory, I have gain ed helpful insight about realizing that there are certain boundaries and rules when others self-disclose and it is my duty to know and understand these boundaries and rules to appease the chance of â€Å"boundary turbulence.† If I had known the central premise of this theory before revealing my brother’s private information, I could have come to the conclusion that it would not be in mine or my brother’s best interest to reveal to my mother that he was in the ROTC program. The Communication Privacy Management theory is as Petronio states â€Å"as a map of the way people navigate privacy† and gives the necessary steps of how one must set and coordinate certain privacy rules with their co-owner, in order for the owner to feel that they have complete control of who gets to know their private inform... ...e discussions in order to make sure she is in complete control of her private information. During this time, Katherine is considered to have complete ownership of her learning disability. She has not allowed anyone to become a co-owner of this information, and due to a certain event when Russ pokes fun at those with learning disabilities, Katherine soon feels as if she will never be able to conceal her learning disability with her friends. Nevertheless, if Katherine wants to have more than a â€Å"superficial† relationship with Russ and Kim, she must disclose her ADD disability with them and be honest which brings her to asses her relationship with her friends. During this time, Katherine, unknowingly, applies three of the five components of Petronio’s rules based management system that her CPM theory addresses, wherein it explains how we create our privacy boundaries.

Uma Sekaran’s Chapter 2 Review

The chapter 2 of Research Methods of Business by Uma Sekaran speaks of scientific investigation detailing on the eight hallmarks of science and the limitations of scientific research in management along with the hypothetico-deductive method of research. The hallmarks or main distinguishing characteristics of scientific research can be the following 1. Purposiveness: The research should have a purposive focus i. e. some definite purpose will be served after the research 2. Rigor: Rigor means carefulness, scrupulousness and the degree of exactitude in research investigations good theoretical base and a sound methodological design will add rigor to a purposive study. 3. Testability: if a certain hypothesis gets developed through unstructured interview or library search, then the hypothesis can be tested by applying certain statistical tests to the data collected for the purpose.. 4. Replicability: The results of the test of hypotheses should be supported again and again when same type of research is repeated in other similar circumstances. The researchers will gain confidence in the scientific nature of the research. 5. Precision and confidence: Precision refers to closeness of the findings to â€Å"reality† based on a sample. It reflects the degree of accuracy or exactitude of the results on the basis of the sample to what it really exists in the universe. Confidence refers to the probability that the estimations are correct. 6. Objectivity: The conclusions drawn through the interpretation of the results of data analysis should be objective i. e. they should be based on facts of the findings of the actual data. The more objective the interpretation of data , the more scientific the research investigation becomes. 7. Generalizability: This refers to the scope of applicability of the research findings in one organizational setting to other settings. The wider the range of applicability of the solutions generated by research, the ore useful the research is to the users. 8. Parsimony: Simplicity in explaining the phenomenon or the problem that occur and in generating solutions for the problems is always preferred to complex research frameworks. In the management and behavioral areas , it is not possible to conduct investigations that are 100% scientific because of measurement and collection of data in the subjective areas like feelings, emotions, attitudes and perceptions. These problems occur whenever one tries to quantify human behavior. Thus , the eight hallmarks of science cannot be achieved in full . The deduction and induction processes are explained as follows Deduction: it is the process of arriving at a reasoned conclusion by logical generalization of a known fact. Induction is the process where a certain phenomenon is observed and then a conclusion is arrived at. The seven step processes in hypothetico-deductive method are 1. Observation: It is the very first stage in which one senses that certain changes are occurring or some new behaviors , attitudes and feelings are surfacing. When the observed phenomenon are seen to have potentially important consequences , then one will proceed to preliminary information gathering. 2. Preliminary information gathering: Preliminary information gathering involves seeking of information in depth of what is observed. Through interviews and library search , the mass of information can be gathered. . Theory formulation: It is a step which attempts to integrate all information in a logical manner so that the factors responsible for the problem can be conceptualized and tested. The theoretical framework formulated is often guided by experience and intuition. Here the critical variables are examined as to their contribution or influence in explaining why the problem occurs and how it can be solved. 4. Hypothesizi ng: From the theorized network of associations among the variables, certain testable hypotheses or educated conjectures can be generated. The hypothesis thus generated is tested to determine of the statement is supported. 5. Further scientific data collection- After the development of the hypothesis, data with respect to each variable in the hypothesis need to be obtained. 6. Data analysis- The data gathered are statistically analyzed to see if the hypotheses that were generated have been supported. 7. Deduction – It is a process of arriving at conclusions by interpreting the meaning of the results of the data analysis.

Foreign literature Essay

Many students who come from other countries to study in the US wish to stay and work after graduation. This allows them to continue their exploration of a different culture, while at the same time develop professional experience that will further their careers. The following is an overview of employment options for foreign national students graduating from US colleges and universities, according to the type of visa they hold. Note that these options can change at any time so students should check with the resources included below for the latest regulations and details or if appropriate a professional service specializing in assisting international students and workers in the US. Student Visas for US Employment Both undergraduate and graduate students can apply to remain in the US for employment-based training for 12-18 months after completion of their studies, depending on their visa status. The U.S. Citizenship and Immigration Services (USCIS, formerly known as INS) defines this training as employment related to the student’s course of study. Without proper authorization, off-campus employment is illegal. Optional Practical Training for Foreign Student Visa (F-1) Holders Most international students are Foreign Student Visa (F-1) holders. After they have completed a course of study, F-1 students can apply for Optional Practical Training (OPT), which allows them to work up to 12 months following the receipt of a degree. (Each degree, starting with the bachelor’s, must be a higher degree than the previous one.) Steps to apply for OPT include: Make an appointment with an international student advisor that is scheduled at least 3 months before the end of the period of study Obtain a Practical Training Recommendation form from the school’s international student services Ask an academic advisor to complete the form Complete USCIS Form I-765 Photocopy both sides of Form I-94 Write check or money order for $180 payable to USCIS Obtain two passport photos of the student, and photocopy all passport pages Photocopy Form I-20 Go to appointment with international student advisor with all of the above  materials Once the OPT application has been submitted, it takes 2-3 months to receive an Employment Authorization Document (EAD). Upon receipt of the Optional Practical Training authorization card, graduates can legally work. After the EAD has been issues, the approved period of time cannot be changed. Therefore, students who have not completed their studies by the date provided on their application will not be able to begin working full time until all their studies are completed, and they will not get back time lost. In some cases, once an employee reaches the end of their OPT, an employer may wish to sponsor them for an H1-B Temporary Worker Visa (see below). This allows the employee to continue to work for that company an additional 3-6 years. Academic Training for Exchange Visitor Student Visa (J-1) Holders Exchange Visitor Student Visa (J-1) holders can apply for Academic Training (AT), which allows them to work off-campus in full-time, paying jobs related to their field. The total amount of time allotted for AT is 18 months (regardless of the number of degrees obtained while studying in the US) and can be completed either before or after a graduate’s period of study. Both undergraduate and graduate-level students are eligible. Postdoctoral fellows are allowed to apply for an additional 18 months, for a total of 36 months of AT. Steps to apply for AT include: Applications for AT should be submitted at least two weeks prior to the date employment is scheduled to begin  Obtain a job offer letter from an employer that includes job title, brief description of employment â€Å"goals and objectives,† dates and location of employment, number of hours per week, salary amount, and  name and address of supervisor Ask the international student services office for a recommendation form, and give to an academic advisor along with a copy of the job offer letter; the advisor’s recommendation letter should note that the AT is an integral part of the student’s academic program Schedule an appointment with an international student services advisor and bring the above materials along with a current passport If the J-1 Responsible Officer evaluates the AT program and decides it is warranted and appropriate, he or she will authorize the AT and issue a new DS-2019 If one period of AT ends, or if the job ends, a new application must be submitted and authorization granted for any new period of AT. Some J-1 students may have a â€Å"two-year home country residence† requirement, which prevents them from continuing employment with an H-1B visa (see below) after academic training, unless the requirement is waived. Worker Visas for Long Term Employment H-1B Temporary Worker Visa Once a period of Optional Practical Training or Academic Training is completed, Federal regulations require that employment be terminated. However, graduates may continue their employment if the USCIS approves a change in visa type to H-1B Temporary Worker, the most common type of work visa. There is a quota of how many H-1B Visas can be granted per fiscal year (between October 1 and September 31). Some non-profit research institutions and universities are exempt. H-1B Visa holders must be sponsored by their current or prospective employer, and the position must be a professional one. The sponsoring organization petitions the USCIS and the Department of Labor for the H1B, which can take 4-6 months before the employee’s new immigration status is granted. Employees cannot change companies without jeopardizing their visa status,  and the visa ends when employment with that company ends, or after six years, whichever is shorter. Finding an Employer American employers often see international students as assets, as they possess both multicultural and multilingual skills, and an education from a US institution. Additionally, when they hire a foreign national with a student visa, organizations are not required to prove that there is no American available for the position (which they have to do with green cards). However, some employers are reluctant to interview F-1 Visa holders because they know their worker will have to leave in one year, unless the employer is willing to sponsor a change to H-1B Visa status. Potential employers may also be concerned about their own lack of familiarity with the process, and hesitant to invest money in training an employee who, sooner or later, will want to return to their home country. The following tips can help in securing an F-1, J-1, or H-1B job: Work while in school – Take advantage of Curricular Practical Training (CPT) internships during school to gain valuable experience Communicate well – Become as fluent as possible in spoken and written English Develop an excellent resume – Design targeted resumes according to American expectations (keep to one page; address only ability, skills and experience; do not include personal information such as race, age, or parents’ occupations) Keep an open mind – Consider less desirable field-related jobs in addition to ideal opportunities — they can lead to more desirable positions later Educate employersAssure employers that the government issues a specific number of H1-B visas each year, so if a visa is not issued to the current student, it will go to another student for another company – the employer will not be depriving Americans of jobs Sell uniqueness – Communicate to employers the benefits they will receive by hiring an international student (resourcefulness, determination, ability to adapt, multilingual, overcoming challenges, etc.) www.braintrack.com

Healthcare Setting Essay

In the healthcare setting today decubitus ulcers (pressure sore) represent an ongoing challenge to health care professionals providing care to patients in different health-care settings. The incidence of decubitus ulcers estimates 1 to 3 million people in the United States each year. The National Pressure Ulcer Advisory Panel (NPUAP) defines prevalence as â€Å"a proportion of persons who have a pressure ulcer at a specific point in time.†Prevalence of pressure sores in the United States is widespread in all settings, with estimates of 10% to 18% in acute care, 2.3% to 28% in long-term care, and 0% to 29% in home care. The burden of having a pressure ulcer is high, in physical, emotional, and financial terms. Data from 1999 indicate that the cost of treating pressure ulcers may range from $5 to $8.5 billion annually, and this equates to approximately $9.2 to $15.6 billion in 2008. The AHRQ reported that pressure ulcer-related hospitalizations ranged from 13 to 14 days and cost $16,755 to $20,430, compared with the average stay of 5 days and cost of approximately $10,000. The Centers for Medicare & Medicaid Services reports that the cost of treating a pressure ulcer in acute care (as a secondary diagnosis) is $43,180 per hospital stay. Contributing cost factors include increased length of stay because of pressure sore complications, such as pain, infection, high-tech support surfaces, and decreased functional ability. Barbara Braden collaborated with Nancy Bergstrom in 1987 to develop Braden Scale for Predicting Pressure Ulcer Risk. The purpose of the scale is to help health professionals, especially nurses, to assess a patient’s risk of developing a pressure ulcer. In their study, the tool was tested in a multisite clinical trial involving hospitals, Veterans Administration (VA) medical centers and skilled nursing facilities. This research has proven to be effective in identifying and preventing pressure sores in high risk patient population. The Braden Scale is now the most widely tools used for predicting the risk of development of pressure sores. The Braden scale assesses a patient’s risk of developing a pressure ulcer by examining six criteria i.e. sensory perception, Moisture, Activity, Mobility, Nutrition and Friction and Shear. Based on the findings of the Braden scale strategies could be employed to prevent the development of pressure sores in high risk.

The Idea of Order at Key West

â€Å" The Idea of Order at Key West† Wallace Stevens, a imaginative poet, created a wonderful world of desire in the poem â€Å"The Idea of Order at Key West†. Line after line, new perspectives and curious thoughts popped into my head. Stevens creates the desire to want to decipher his puzzle of a poem. Stevens is a poet of many themes and perspectives, which led me to understand why I was coming up with so many different meanings behind this poem. In this particular poem, Key West being the muse, Stevens writes down the keys to the mystery, only to be unlocked if you dig deep into his poem.However, once unlocked, understanding the passion and mystery with each written word is a whole other activity. The speaker opens up the poem stating that â€Å"She sang beyond the genius of the sea. †Automatically, I am hit with a vision of a women standing on the shore, running away from the water as is grew closer to her toes, laughter being the song the sea couldn’ t amount to. The speaker then goes on to say that she was not mind nor voice. Nonexistent? No. This presence was very much alive in the sense of motion. The speaker, draw in by it's â€Å"empty†¦ mimic motion†, somehow understands the ovement. Emphasis on there being no physical form, but a being none the less. This possibly gives the speaker a sense of comfort. Being surrounded by a presence the speaker knew, but had a great desire to know more about it. In return, the speaker and company have empathy, constantly hearing a cry. The focus on a feminine figure was very obvious to me in the beginning of this poem. However, as the poem carries along, I am torn between what I think and what Stevens meant it to be. Continuing along, the presence becomes more mysterious. An open book for she was not a mask no more than was the sea.Water, for the most part, is a transparent substance. It makes sense that the speaker would use this metaphor, being in Key West where the water is crystal. The speaker makes it apparent that the sound is not that of the sea, but of the presence, â€Å"The song and water were not medleyed sound†. The speaker starts to clearly separate the presence from the surroundings of Key West. On the other hand, using the surroundings, the speaker defines the presence. Up to this point in the poem, I was sure that the feminine figure he so carefully described was a love of his. A women he longed for, but couldn't have.Once I read â€Å" she was the maker of the song she sang†, I changed my mind about who the muse was. It made sense that now, the feminine figure could possibly be a depiction of Mother Nature. A women who controlled the motion of the waves but herself had no motion. She was the cry they knew but was not of there own. The song was not the water, it was the wind as it crashed itself against the water, always pushing against that barrier. Every and all aspect led to this idea that the love was not a love of a woma n, but a love for the nature of women itself. The presence, something much larger than im, controlling all of the wonderful things he so desired and felt for. I was so sure about this notion, because I felt reassured by a verse. When the speaker said â€Å"it was she and not the sea we heard† I knew I had come across it all. Despite my reassurance, I instantly withdrew that notion when I came upon this verse, â€Å"repeated in a summer without end†. If the womanly figure was Mother Nature, then seasons would not be an issue. I was then left to recollect my thoughts. Sound, one of our five sense that allows us to soak up the chirping of the birds, crashing of the waves, and the beating of hearts.It seems to be the main drive of the speaker. Everything that the speaker explains comes from the song of Key West, the sound of Key West. Not knowing where it is from or what it is, the speaker so infatuatedly talks about a song and cry. I find it really ironic that the speaker creates a sense with the use of a sense. As you read you are painted a picture with the desire to listen to this song as well as ponder about the origin. The song, I believe, creates the desire to be at Key West and gives it life. To the speaker, the song becomes a song of tranquility amongst chaos, it calms him.The idea of order comes from the sounds that create the song of Key West. Once the song has stopped, the life it sang about trudges on. There is a kind of emptiness to the song, but it moves everyone who listens to it. It creates a connection with the listeners as well as brings their love of Key West to life â€Å"And when she sang†¦ whatever self it had, became the self†. This tune could be of their own life or the reason they come to Key West. It definitely paints the picture everyone goes there for. Sadly, when the song is over, it seems as if the love for the West isn't as strong.When the speaker turns away, the song no longer is a beautiful melody of the o cean, but a cry. The cry, a constant longing of Key West to have visitors and of the speaker to return again. Only during the summer does the speaker visit the Keys. Since he is only able to visit once every year, the need to visit as well as the Keys need for visitors builds up. Both with the longing to reunite, the cry is heard. There is a strong connection with the speaker and Key West. The speaker carefully describes the beauty of the beach as if it were a women. Every hour spent at the beach is precious. As the sun egins to set, the speaker gets an unsettling feeling. Even though he comes back every summer, it is painful for him to leave such a hypnotizing place. As the day comes to an end, the song seems as if it becomes slower. Creating everything that Key West is, as the song comes to an end, so does its surroundings. Fishing boats go back out to sea, the light begin to turn on, and the speaker has to tear himself away from his love. Time is of the essence and in no sense wa sted when the speaker visits Key West. â€Å"She measured it to the hour†, the song is perfectly measured out between sunrise and unset. This then makes it easier for the speaker to leave the beach, allowing him to go about his daily life. Then there is the mention of another man, Ramon Fernandez. The speaker looks up to him, asking if he knew why the melody was ending. I just came to the conclusion that Ramon was nothing but a man who was along for the ride. The speaker probably just asked him if he was interested in seeing Key West. Ramon has no deep connection with the coast unlike his chaotic friend. Although, he seems as if he is good company. He provides the speaker a chance to express his displacement with the song nding as well as the day coming to an end. Key West as a whole can be interpreted as something desired. Expressed like a love for a women, the beaches of Key West provides the speaker with a peaceful place. He longs for the passion, comfort, and peace that t he coast grants him. The possibility arises that the speaker was never able to truly express his love until arriving at the coast. There is no sure reason that the speaker feels such a deep connection with Florida. Maybe he lived there as a child, hearing the sounds of the ocean, wind, and creatures daily. Then when he would come back summer after summer, the sounds and sights hanged much like he did with each passing day. The speaker is constantly going back to a later time when things were as they picture them as a child. The song could represent the passing of time, as the day ended, he came to the realization that the beach was not what it used to be. The beach lifestyle being calm and easygoing, allowed the speaker to feel at peace. So then when the speaker left this lifestyle behind for another one, he realized the chaos was too much for him to handle. Sadly he was not able to return for whatever reason, except once a year, every year when the weather was at its hottest.A poss ibility could be that there was a job, family, and or life experience that was calling his name. Something of a forceful nature that caused him to leave. In his absence, the coast cried out for him, desperately trying to bring him back to peace. He did not know the cry was for him at the time, but once he came back, it became real. His love for Key West, for his old life was no longer in his grasp. The speaker could no longer turn back time and enjoy all those years he had flash before his eyes. Another interpretation could be that the need to be that Key West represents some sort of psychical or emotional need.Something that cannot be fulfilled by every day life. Key West is a tropical place, there are always exciting, fun, and new things to try. It is a freeing place where anything and everything is accepted. It is easy to find yourself in a social acceptable setting. Depending on the person, different settings can be more opening to others. For example, many people go to New York because they are widely accepted. All in all, Wallace Stevens wrote a cavern of a poem. Always going in deeper, seeing new perspectives, and discovering something new. The Idea of Order at Key West could be interpreted into ust about anything for anyone. Stevens so delicately thought out every single detail, making it such a beautiful read. Carefully unwrapping each sentence, I find myself longing to know more. In the end, what Stevens really wanted was an admirer. Someone who craved the words written by him. An adorer who would stop for nothing to know what his next thought would be. What creator doesn't want someone to admire their work ? Creating a vivid picture with every word, Stevens captured the essence of the thirst for love and desire. The Idea of Order at Key West was only just the foot in the door of this new way of writing.