Biographies about William Faulkner

William Faulkner is an American writer from the state of Mississippi, Oxford who lived between 1897 and 1962. He is regarded as one of most important Southern Literature writers of the United States. During his lifetime, he was credited for writing and publishing a great volume of poetry, novels, short stories, essays and screenplays. His collection of short stories and novel is the most popular. He also won the Nobel Prize for Literature in 1949 for his contribution to the field of American Literature (O’Connor 1). This paper focuses on the most important works of William Faulkner, his literary influences, writing style, themes, what makes him so important in the field of literature and why his works are worth reading. The most important works of Faulkner During his lifetime, Faulkner wrote very many literary works such as poetry, novels, short stories, essays and screenplays. His novels and short stories were the best in the collection. His collection of first edition novels contained over 20 novels. Some of the works of William Faulkner that stood out from the collection and made the list of the most of the celebrated of Faulkner’s novels include; The Sound and the Fury: This novel was set in the fictional Yoknapatawpha County in Mississippi State which was his home and also the setting of most of his novels. The novel featured the Compson family and their slow agonizing decay and twisting of the social order. Themes such as incest, honor and mental instability formed the book. The book ended with an interesting twist that said that they endured. This book was instrumental in the winning of the 1949 Nobel Literature Prize. It showed a very superior construction technique with ability to recreate the human mind thought pattern and it advanced the stream of consciousness narrative pattern (Minter 104). As I lay Dying: This is the fifth book that was written by Faulkner and it is considered by most people as the best. The story was developed by fifteen narrators narrating the burial of the matriarch of the Bundren family. The vulnerability of the lovers, children and friends was shown in a very moving way.   The book represents development of the stream of consciousness technique in a more intimate way than in ‘The Sound and the Fury’. The story in this book played a role in founding the Southern Renaissance (Minter 106). Light in August: This novel featured a story of Lena Grove, Reverend Gail Hightower and Joe Christmas all seeking to find an identity. The story was emotional and often, the characters viewed themselves differently from the way other people viewed them. This novel had a lot of significance in the Southern way of life and especially racism which was very obviously attacked by the author (Minter 129). Absalom, Absalom: This was a story done by two narrators Quentin and his roommate Shreve at Harvard. It featured the life of Thomas Supten who came to Mississippi in the 1830s to build a plantation as well as a dynasty. The narrators were very disconnected from the story they were telling. The story had its inspiration in the biblical story of Absalom, King Minter’s son. It was very instrumental in helping Faulkner win the Nobel Prize and in 2009; it was declared the best Southern novel of all time by a panel of judges (Minter 168). Major influences on Faulkner’s works As with every other writer, Faulkner had his own share of experiences and people who influenced his works. One of the major influences of Faulkner was his Southern upbringing and environment. Themes that had to do with the southern environment at the time of his life kept recurring in his novels. These included racism, classism and misogyny and he was strongly opposed to these ideologies. His families as well as their values also influence his writing to some extent as is expressed by his reference to ‘Damuddy’ his grandmother’s nickname in the Novel, ‘The Sound and the Fury’ and the modeling of Colonel Sartoris in the novel ‘Sartoris’ after his great grandfather who was a colonel. The post master job held by Faulkner at some point is also referred to in some of his writing for instance ‘A Rose of Emily’. When it comes to literary influences on Faulkner’s works, Faulkner took after James Joyce and Virginia Wolf in thei r stream of consciousness writing technique. Mark Twain’s influence is also evident in the characteristic laid back adventure Faulkner uses that was also used by Mark (Cruz 1-5). Faulkner’s writing style The writing style of Faulkner is very distinct and as such has many proponents and equally many opponents. He uses a distinct highly symbolic style that is full of contrast. For instance, his characters are full of corruption and violence which is his way of criticizing the morals of the society. One particularly unique characteristic of Faulkner’s writing style is the use of extremely long sentences. The different phrases of the sentence are connected by commas, semicolons and parenthesis. They also portray different ideas so that a single sentence presents all the possibilities of the issue being highlighted. Another characteristic of Faulkner’s writing style is the use of the ‘stream of consciousness’ technique (Lowe 1). Why is Faulkner important? Faulkner was a very important figure in the literature as well as the larger world. In Literature, he developed his own distinct style that was marked by symbolism, contrast and the stream of consciousness technique. He was also a very important interpreter of history through his work. He wrote at a time when modernism was emerging and he managed to portray most of the issues that were facing not just the South and America but the world at large as modernism was kicking in. Literary critics have called him a â€Å"master of a high rhetoric and folk rhetoric† style (O’Connor 151) and an â€Å"important interpreter of history† (Lowe 1). Why is Faulkner’s work worth reading? Most critics claim that Faulkner’s literary works is complex and not easy to understand. Long sentences with contrasting ideas are used confusing the reader. However, those who have taken the trouble say it is worth reading. This is because of Faulkner’s portrayal of Southern culture is very clear and important. He also has vast literary influence due to his unique writing style. His work is also very original and interesting. Faulkner’s ideas and themes Faulkner’s themes and idea recur many times in his works. Southern history is one of the themes he writes about frequently perhaps because he grew up there. He also addresses other themes such as social structure, class, modernism, racism and gender. In most of his works, Faulkner uses corruption and violence in his characters to indicate the moral decadence in the society. It seems that his Southern influence was so strong because every theme he tackled, whether it was class, racism or equality was related to the South (Lowe 1).

The American Dream in The House On Mango Street by Sandra...

The American Dream, yes everybody has one, it can be from living in a large house and having a million dollars to just having the privilege to live in America and try to make something better for themselves in this new life or new start they are trying to grasp. There are many traditions and dreams of every American today while some dreams are practical and some are not and most of all their dreams are from the heart. The American dream is really simple--it consists of a house a job a car three kids and one dog but this is not always the case. The American Dream can be lived by anyone who tries to make due with what they can afford at the time they are in and the situation that’s upon them.†¦show more content†¦The family in House on Mango Street is not the perfect family but who is? Esperanza the main character in House on Mango Street, is a young girl who looks at life from an experience of living in poverty, where many do not question their experience she did, maybe on accident, but for the better. As a young girl Esperanza is asked one day where she lived by a nun from her school who happened to be walking by. Now before this moment Esperanza never really notice her living situation, all she knew is that her parents loved her and wanted her to go to school. When the nun rudely said â€Å"You live there† (Cinceros 5) and pointed at the shoddy apartment building, it is then Esperanza started to build a dream inside of her head because of the look on the nun’s face, unsatisfactory. Esperanza is a shy but a very bright girl. She dreams of the perfect home now, with beautiful flowers in their luscious garden and a room for everyone to live in comfortably all because of the unsatisfied face the nun made that one afternoon--when she moves to the house of Mango Street. She thinks it’s going to be a â€Å"grand house on a hill that will have a bedroom for everyone and at least three washrooms so when they took a bath they would not have to tell everybody.† (Cinceros 4) Reality is so different for her when her dream is shot down in a heartbeat when sheShow MoreRelatedEssay on The House on Mango Street and the Style of Sandra Cisneros1669 Words   |  7 PagesThe House on Mango Street and the Style of Sandra Cisneros Clearly, Sandra Cisneros writing style is one representative of a minority voice. Her amazing style allows her readers to take an active part in the minority experience. For this reason, I believe Cisneros has had a lot of influence and success in the status of minority writers, especially in the canon of what is read and taught in schools today. But, more than anything, Cisneros has shown that liberation can come through creativityRead More Comparing Women in House on Mango Street and Woman Hollering Creek1645 Words   |  7 PagesEthnic Identity of Women in House on Mango Street and Woman Hollering Creek  Ã‚      The novels The House on Mango Street (Cisneros 1984) and Woman Hollering Creek (Cisneros 1992) relate the new American through the eyes of Cisneros. The women in both novels are caught in the middle of their ethnic identity and their American identity, thus creating the New American. Cisneros moved between Mexico and the United States often while growing up, thus making her feel homeless and displaced (JonesRead MoreHouse on Mango Street Essay989 Words   |  4 PagesEnglish Foundations II May 27th, 2013 The House on Mango Street by Sandra Cisneros The House on Mango Street by Sandra Cisneros is a coming of age novel of a young Mexican-American girl developing in a working class Chicago neighborhood. The author is much like the main character Esperanza in many different ways. One being that Cisneros was also a Mexican-American girl growing up in a Chicago working class neighborhood. Esperanza is a foil of Cisneros’ beliefs and opinions of her Mexican cultureRead MoreThe House On Mango Street Analysis1881 Words   |  8 Pagesthe text itself without having influences of additional sources. From the view of first psychoanalytic theory, the reader can understand the text by analyzing the characters, dreams, conflicts, symbols, and the unconscious desires of the characters. Furthermore, the second theory argues that in the literary work, the dreams, desires, and emotions presented in the work are usually related to author’s own personal experience and the life. For instance, in order to understand the literary work of anRead MoreThe House On Mango Street Analysis1145 Words   |  5 PagesEsperanza’s Dreams Living in a poor city and trying to escape it is not easy and it becomes a part of someone whether they want it to or not. Sandra Cisneros novel The House on Mango Street portrays the struggle of a young Latina girl from a bad neighborhood who is trying to have a better life. From the beginning, it is evident that the dreams of this young girl are to be independent, become a writer, and have a home of her own. To begin with, the author makes it clear from the start that EsperanzaRead MoreAnalysis Of The House On Mango Street1051 Words   |  5 Pages Analysis of The House on Mango Street By: Sandra Cisneros Carley Deklotz GWSS:1001:0A02 Professor Sue Stanfield The environment people grow up in can have a huge impact on their identity and who they become. In the novel, The House on Mango Street, the author tells a series of short stories through the eyes of Esperanza Cordero. Esperanza is a young Latina growing up in Chicago, and through her stories shows the reader her environment and how in affects her. Things like gender roles, sexualRead MoreThe House On Mango Street861 Words   |  4 Pages The House on Mango Street The House on Mango Street,written by Sandra Cisneros, deals with a mexican girl named Esperanza, who grows up and dreams big in Chicago. Cisneros uses imagery, theme, and symbols to describe many things from Esperanza s perspective. Imagery is used to describe items and people in a meaningful way. Cisneros uses various themes to show various ideas and beliefs. The symbols used describe objects and figures to portray ideas on a deeper level. Cisneros employs unique literaryRead MoreThe House on Mango Street by Sandra Cisneros Essay example2527 Words   |  11 PagesThe House on Mango Street, is written by Sandra Cisneros. Sandra Cisneros was born and grew up in Chicago. She was raised by her mother and father who were both of Mexican descent. She grew up in a relatively large family; she was the third child out of seven children. Cisneros’ childhood consisted of her growing up in one of Chicago’s Puerto Rican neighborhoods. As a child she also traveled back and forth to Mexico with her family. Understanding Cisneros’ background is important for understandingRead MoreThe House On Mango Street By Sandra Cisneros1297 Words   |  6 Pagesdrawing board to think of a story to create, most of the advice given to them is â€Å"write what you know.† This was perfect advice for Mexican-American writer Sandra Cisneros, who draws upon her coming-of-age events throughout her childhood and adolescence in â€Å"The House on Mango Street.† Drawing from life stories, her alter ego â€Å"Esperanza† describes everything from the house she lived in, to the hair on people’s heads. These personal stories show a stark contrast for any reader of a different culture, andRead MoreThe Lesson, By Toni Bambara And House On Mango Street2493 Words   |  10 Pageswhere there is a never ending struggle to achieve â€Å"the American Dream.† Therefore, children see their parents try their hardest to provide for them while obstacles in society deter them. Society has created social classes or groups to categorize people base on their income and soci-economic status. In the stories, â€Å"The Lesson† by Toni Bambara, and â€Å"House on Mango Street† by Sandra Cisneros, these two authors discuss how fulfilling the America Dream is possible once one is willing to work for it. In

Evaluation and Study of Individual Differences in Banking Sector - Free Essay Example

Sample details Pages: 5 Words: 1646 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Individual differences is a cornerstone subject area in modern psychology.   In many ways, it is the classic psychology that the general public refers to it refers the psychology of the person the psychological differences between people and their similarities. Plato  stated more than 2000 years ago: No two persons are born exactly alike; but each differs from the other in natural endowments, one being suited for one occupation and the other for another. Individual difference psychology examines how people are similar and how they differ in their thinking, feeling and behaviour.   No two people are alike, yet no two people are unlike.   So, in the study of individual differences we strive to understand ways in which people are psychologically similar and particularly what psychological characteristics vary between people. Don’t waste time! Our writers will create an original "Evaluation and Study of Individual Differences in Banking Sector" essay for you Create order In the Western psychology approach to individual differences, it is generally assumed  that: People vary on a range of psychological attributes It is possible to measure and study these individual differences individual differences are useful for explaining and predicting behaviour and performance We can classify people psychologically, according to their intelligence and personality characteristics, for example, with moderate success, however people are complex and much is still left unexplained.   There are multiple and often conflicting theories and evidence about individual difference psychology. Human beings have been aware of individual differences throughout history, e.g. Gender differences -hunters=men, gatherers=women Intelligence differences caste, class, education, etc. Personality differences job specialisations Early study of individual differences We have come a long way since Franz Gall invented  phrenology  in the early 1800s. Phrenology is the study of an individuals bumps on the skull, which supposedly reveal character traits and mental abilities. Phrenology had such vogue that by 1832 there were 29 phrenological societies in Britain and many journals in both the UK and US devoted to the study of phrenology. It was seriously proposed to select Members of Parliament from their bumps. Some phrenologists even moulded childrens heads to accentuate good qualities and minimise bad ones! Despite the theory being incorrect one of its assumptions holds true: the idea that various brain regions have particular functions. Darwin  suggested that nature selects successful traits through the survival of the fittest. His cousin,  Sir Francis Galton(1822-1911) concluded that he could apply the principle scientifically. Why not measure human traits and then selectively breed superior people? He assume d human traits, everything from height and beauty to intelligence and ability, to personality traits such as even-temperedness, were inherited. Modern psychology has formalised the study of individual differences over the last 100 years.   Individual differences psychology is still a young science and a relatively recent development in modern psychology.   There are still many debates and issues. Current knowledge will change and evolve.   So, have an open-minded, but critical perspective as we go along! Since there are multiple and controversial viewpoints, it is necessary to move beyond reliance on personally preferred viewpoints to also embrace alternative perspectives, particularly those which are utilized in psychological practice and which have solid research support. Abstract: Banks in India have succeeded in promoting new services to its customers. The likelihood of current customers is tempted to do business online. Based on extant literature on bank marketing, a questionnaire was designed. Then, in a large-scale survey by means of personal and telephone interviews, data was obtained from bank customers. This paper focuses on the adoption of internet banking by existing banks customers through an investigation of the factors that influence customers acceptance of internet banking service. The questionnaire was designed from the literature review. It included 29 variables which will help in enhancing the satisfaction of the customer with usage of internet banking in India. Six Indian banks were chosen where the questionnaire was randomly administered to 210 respondents who were also customers of the bank. Out of 210 questionnaires, 196 were completed questionnaires. The banks chosen for the purpose of the study were the ones who have strong retail prese nce and offer comprehensive range of information to the customer. An exploratory study of the Indian customers in six banks is conducted to identify the factors which lead to adoption of internet banking services with the help of data reduction technique called factor analysis. Decision Style Measures Measures of decision style  assess the ways in which individuals approach decision making, or thinking more generally (e.g., whether individuals adopt a rigorous analytic style or a gut-based experiential style). Within decision style, we include: Measures of decision style, which were specifically designed to assess individuals approaches to decision making. Measures of cognitive style, which were designed to assess individuals approaches to thinking more generally, but have been successfully applied to decision making. Measures of epistemic motivation, which were designed to assess motivated cognition, but have been successfully applied to decision making. Closely related are measures of  ambiguity (in)tolerance. IMPACT OF MOTIVATION ON EMPLOYEES PERFORMANCES. Impact of motivation on employees performances: A case study of banking sector  Background and Literature There argues that current knowledge of motivation and performance has been inadequate as there identifies set of variables that may influence bank employees motivation and performance. The model incorporate constructs and research findings from disciplines, the research primary purpose is to provide model or research framework and several hypotheses to help guide empirical research in motivation keeping at Nigeria banking sector.  Motivation serves as essential paradigm in determining professional growth, in attaining performance development among Nigerias banking employees. There will be theoretical posits verifying motivation approaches applied in Nigerian banks such as bank managers in general. Motivation at work is in popular area of research influenced by modern research stature (  and , 2004)  and provided sense of understanding of work motivation,   and  Ãƒâ€šÃ‚   (1975) asserted, the more effort expected by the employees on their jobs, the more motivated they are to become, creating perpetuating cycle of performances due to motivation. The research provides ideal interest to the researcher because in every work setting motivation comes in the picture as it can be recognized and unrecognized in certain ways.  In addition, agreeing that motivation incurs strong basis for value integrity as there can be options adhering to real specifications of humanistic attitude that can be seen into self response within the grounds of the work environment that in a way support satisfaction that leads to the fulfillment of basic needs and goals. Ideally, there can be involvement on individual differences as viewed well by means of study investigation that does relate to work motivation and its underlying performance. Methodology Work motivation and performance will be analysed from the perspective of motivation theory as central for the analysis is the relation of banking sector employees with the motivation to exert effort on behalf of performance recognition. There will be presence of theoretical analysis as well as empirical review of several studies of known effects and relationship linking to motivation and performance as it maybe positively related to impacts of motivation on employee performance, effective performance is perceived to be Nigerias banking sector plan and interest. The methodology  seeks to generate empirical data to inspire measures for motivation survey research. The study will adopt qualitative approach, using focus group of a total of 15 participants as to be selected in the HR area of specific banking sector located in Nigeria. Several procedures are applied to carry out rigorous research analysis in forms of survey questionnaire upon presenting research evidences and fi ndings. Alternative methodology can be possible in such case study approach. There is integration of focus group in the study, first group will detect what motivate bank employees, second group will find out how Nigerias banking sector in HR area are doing with regards to motivation and performance. Reliability and Validity of research evidence to construct desirable evidence has to be in a conformed process wherein research biases and lapses if any will not hamper research goals and objectives. Thus, the integration of literature should look further on certain measures to critically evaluate theories in framework and adhere to several concepts of research that is causal to the core function of the overall study development and its process. The imposing of relevant research studies will then incur and play a crucial role to achieve research spontaneity and vigor for assessment of research standards linking towards the completion of the dissertation plan. The literature study serves as major factor from data analysis is found within effective facets of research and right amount of knowledge. Individual differences in decision making: Drive and reward responsiveness affect strategic bargaining in economic games Background In the growing body of literature on economic decision making, the main focus has typically been on explaining aggregate behavior, with little interest in individual differences despite considerable between-subject variability in decision responses. In this study, we were interested in asking to what degree individual differences in fundamental psychological processes can mediate economic decision-making behavior. Methods Specifically, we studied a personality dimension that may influence economic decision-making, the Behavioral Activation System, (BAS) which is composed of three components: Reward Responsiveness, Drive, and Fun Seeking. In order to assess economic decision making, we utilized two commonly-used tasks, the Ultimatum Game and Dictator Game. Individual differences in BAS were measured by completion of the BIS/BAS Scales, and correlations between the BAS scales and monetary offers made in the two tasks were computed. Results We found that higher scores on BAS Drive and on BAS Reward Responsiveness were associated with a pattern of higher offers on the Ultimatum Game, lower offers on the Dictator Game, and a correspondingly larger discrepancy between Ultimatum Game and Dictator Game offers. Conclusion These findings are consistent with an interpretation that high scores on Drive and Reward Responsiveness are associated with a strategy that first seeks to maximize the  likelihood  of reward, and then to maximize the  amount  of reward. More generally, these results suggest that there are additional factors other than empathy, fairness and selfishness that contribute to strategic decision-making.

The Selfish Sacrifice - 910 Words

The Kite Runner by Khaled Hosseini is an unforgettable, powerful and heartrending novel of two friends bonded by childhood and of the forces that tear them apart. Amir, the protagonist, is a young boy who is constantly faced with the challenge to stand up for what is right, however, he always fails to fight his own battles and constantly depends on his friend, Hassan, for aid. Amir is emotionally unstable due to deprivation of love from his father, who is his only source of affection. He yearns to be accepted and acknowledged by his father, and he is prepared to do whatever it takes to earn his affection. On the day of the kite tournament, Amir sacrifices his friend’s innocence for the blue kite, which he believes will earn him Baba’s respect. However, Amir’s sacrifice of Hassan’s innocence is not worth Baba’s endearment and this can be clearly seen through; the loss of his childhood, the guilt that eats him from inside and the love which only lasts him momentarily. With every action comes a cost and Amir’s betrayal towards Hassan, costs him the loss of his blissful childhood. In the book, The Kite Runner, due to his guilty conscience, Amir is unable to enjoy his childhood, as the following quote implies, â€Å"But, always, my mind returned to the alley. To Hassan’s brown corduroy pants lying on the bricks. To the droplets of blood staining the snow dark red, almost black.’’ (Hosseini 96). This statement shows how Amir was unable to enjoy his school life, because his thoughtsShow MoreRelatedSelfishness Essay648 Words   |  3 Pagesself-interest. Contrary to popular opinion, all healthy individuals are selfish. Choosing to pursue the career of your choice is selfish. Choosing to have children#8212;or not to have children#8212;is selfish. Insisting on freedom and individual rights, rather than living under a dictatorship, is selfish. Indeed, even ordinary behaviors such as breathing, eating and avoiding an oncoming c ar when crossing the street are selfish acts. Without selfishness, none o f us would survive the day#8212;muchRead MoreEssay on The Necessity of Selfishness 1054 Words   |  5 Pagesbefore their own. They expected their offspring to submissively sacrifice incongruent desires and wishes. Parents did not tolerate selfishness from anyone at anytime. Then came the millennials, also called the me generation. The typical millennial, concerned only with his or her own happiness, pursues self satisfaction relentlessly. They only reflect upon their fellow man’s needs when it benefits them. Millennials have been called lazy, selfish, and worthless by their peers. This leads one to ponder selfishness’Read MoreA Righteous Sacrifice: Worth It or Not1138 Words   |  5 PagesA Righteous Sacrifice: Worth It or Not Many people are willing to sacrifice for what they desire, whether out of selfish or selfless motives they are willing to sacrifice themselves or others. This sacrifice is a costly and even puzzling act. One must wonder, is this sacrifice for better or for worse? Here are two stories that will show two different sides to this query. In Future Primitive â€Å"Hogfoot Right and Bird-Hands,† there is an old woman who lives sometime in the future. Her pet cat had recentlyRead MoreCompare And Contrast Abigail And John Proctor In The Crucible1049 Words   |  5 Pagesperson while John Proctor is seen as the good and honest character; even though he made some bad decisions.Throughout the play the two characters Abigail and John Proctor show many differences in the characteristics of: lying/truthfulness, self-sacrifice/selfishness, and fear/courage. Through the characteristics lying/truthfulness Abigail is very easily seen as the liar, John is more honest and truthful. Abigail lies to cover up her affair and to prevent charges of witchcraft. Abigail is most toRead MoreReligion And Its Impact On The Environment1452 Words   |  6 Pagesjust pushing them off and believing they are justifiable by God. If they truly want to follow God and his teachings, they would take care of the environment that he created, and take responsibility for their actions. As a whole humans are very selfish creatures. According to many great philosophers the difference between humans and animals is the presence of self-consciousness. Humans can distinguish their own thoughts and feelings from others, and act differently on that knowledge. Humans alsoRead MoreEssay about The Illusion of Love in Faulkner’s A Rose for Emily512 Words   |  3 Pagesan â€Å"eyesore among eyesore† (Para.2), with â€Å"a smell of dust and disuse† (Para.4). What darkens the once well decorated house? The tarnish is fake love. None of Emily, her father and Homer grasps the true essence of love—sacrifice and giving. First, the father’s love is selfish. As written in the last paragraph of the second chapter, his father â€Å"drives away† all the pursuers, (Para.14, Chapter 2) showing his love is so overwhelming that it keeps Emily away from any men. In this way, he has isolatedRead MorePersuasive Essay : The Selfish Gene 1733 Words   |  7 Pagesabout success in the wrong way. According to Richard Dawkins’ ‘The Selfish Gene’, we are all born with inherently selfish genes, in-built for our survival: to self-preserve, to keep oneself safe from predators, to get what you need and keep it to survive. But this does not fit in our current society. As Dawkins states himself, â€Å"Let us try to teach generosity and altruism, because we are born selfish. Let us understand what our own selfish genes are up to, because we may then at least have the chance toRead MoreAlive Nando Parrado808 Words   |  4 PagesAnyone whose goal is something higher must expect sacrificing something bigger to achieve that goal. In life we have to take our goals and expand them and by doing so there are many sacrifices you have to do in order to obtain those goals. Sacrifices are all around us, some are bigger than others, making the goal higher and harder to get, but with a positive outlook and no fear in failing everybody can accomplish anything. When your own life is your goal than the risks are all you can take. It isRead MoreThe Myth Of The Wasteland781 Words   |  4 PagesSacrifice. The Wasteland will try to tear you down, make you a monster or strip you of your will to fight. The Wasteland†¦ and to a lesser degree, life itself. Every day is a struggle against the forces that attempt to compromise and erode anything good in your heart. It helps to have a cause, a purpose; but I have seen too many who have put their faith in those alone and been lead grievously astray. Every pony has a virtue, whether they realize it or not. And it is your virtue and your friendsRead MoreSummary Of The Giving Tree 1706 Words   |  7 PagesSilverstein called the tree â€Å"her†. This gave the tree a gender. Another use of figurative language used in The Giving Tree, is narrative poetry. The Giving Tree had many different meanings, but there was the one that kids’ moms are willing to self-sacrifice for them and they take it for granted. The poem, The Giving Tree, could be used as preparation for the future, by telling kids around the world how much thei r moms do for them on a daily basis and how much it means for them to get a â€Å"thank you†

Accounting Standards in the United States of America Free Essays

Accounting in the USA The following report will describe and discuss the major elements of accounting in the USA. It will show that the US Generally Accepted Accounting Principles (GAAP) are set by the Financial Accounting Standards Board (FASB), where as the International Accounting Standards (IAS) are set by the International Financial Reporting Standards (IFRS). This report will also state the similarities and differences between these standards. We will write a custom essay sample on Accounting Standards in the United States of America or any similar topic only for you Order Now In addition, the following report will use relevant examples to evaluate current accounting problems and issues in the USA related to international convergence of accounting standards. Fargher et al. (2008, page. 67) pointed out that FASB’s conceptual framework (CFW) for financial reporting is generally consistent with that of the International Accounting Standards Board (IASB). However the FASB provides more detail with six statements of financial accounting concepts (SFACs). The first level in the CFW explains the main purposes of financial reports are to provide useful information for investors and creditors, to estimate future cash flows and to claim venture resources. The second level consists of qualitative characteristics and elements of the CFW. The qualitative characteristics of the USA CFW are relevance, reliability, comparability and consistency. The main components include assets, liabilities, equity, investment by owners, distributions to owners, comprehensive income, revenues, expenses, gains and losses. The third level of CFW indicates how the firm executes the events based on assumptions, principles and constraints. There are four assumptions: economic equity, going concern, monetary unit and periodicity. The four principles include historical cost, revenue recognition, matching and full disclosure. The constraints consist of cost-benefit, materiality, industry practice and conservatism. Fargher (2008, p. 229) mentioned that USA uses FASB 95 Statement of Cash Flows, plus FASB 102 and 104. The format is the same as the international one which includes operating, investing and financial activities. However, it is encouraged to report cash flows using the direct method even though the indirect method is usually used. Interest paid and received and dividends received are classified as operating activities. Non cash transactions are excluded from the cash flow statement. Fargher (2008, p. 89) stated that the income statement format under US GAAP involves a range of steps but the subtotals are listed before the unusual and rare items. Changes in retained earnings are included in the retained earnings statement and comprehensive income that reports changes in fair value and similar items after the operating income. Note disclosure is based on particular standards plus SEC and other sou rces under the US GAAP hierarchy. IFRS and US GAAP have some similarities but there are also several differences. The main similarities and differences are in the areas of revenue recognition and inventory valuation. A similarity between US GAAP and IFRS is that revenue is not recognised until the revenue is actually earned. Under the US GAAP, a large amount of guidance provided usually only applies to specific industries. For example, there are specific rules for the recognition of software revenue and sales of real estate under US GAAP, while comparable guidance does not exist under IFRS (Ernst Young 2010). Also, both systems define inventory as assets held for sale in the ordinary course of business. A significant difference between using US GAAP and IFRS is the inventory costing method is that US uses LIFO, whereas LIFO is prohibited by the IFRS. Also, inventory valuation is measured under the IFRS at lower of cost and net realizable value. However, under the US GAAP, inventory valuation is carried at the lower of cost and market, where the market is the current replacement cost (Ernst Young 2010). According to (Todd M. Hines 2007, p1) IFRSs are becoming more important in the global economy. â€Å"Over the last 35 years there has been a strong push towards the adoption of a uniform set of financial accounting standards to replace the myriad number of country-specific standards now in use†. This indicates that each country has developed its own sets of financial accounting standards. It is essential to work towards the uniformed international accounting standards for organisations doing business globally to have comparable information. As a result of this push for internationally recognised set of accounting standards, IFRS were created with the goal of providing a single internationally recognized set of accounting standards. In an ever increasingly globally connected world, more transactions and investment planning occur on a global level. As international convergence has progressed many countries have conformed under IFRS and adopted their standards. The USA has similar standards but continue to use different financial reporting standards. However these differences according to (Todd M. Hines 2007, p4) often ‘lead to confusion and large complications for preparers and users of financial statements’. Financial statements prepared under different reporting standards are hardly comparable, therefore overseas investors may not be able to compare between the financial reports of business under IFRS and those operating under US GAAP. This can lead to confusion and affect the judgments of financial statement users. Due to the difficulties in comparison the users of the financial information must understand both IFRS and GAAP to make informed decisions. Moving from US GAAP to IFRS will have a major impact on business’ financial reporting in the USA. Decisions made by managers, financial advisors, CEO’s, governments, and the users of financial statements will have to be drastically rethought with the change. If the USA decides to follow the convergence trend towards IFRS, they will be moving into a more volatile reporting environment, particularly in the reporting of assets as well as that of net profit. One alarming statistic is that the volatility of tax benefits, deferred tax benefits in particular, can be 98% more volatile under IFRS (McAnally, et. al. 2010). This increased volatility is due to the greater use of fair value in the preparation of the financial statements, and the eventual elimination of historical cost under IFRS. Fair values are used under IFRS to better reflect the changing economic conditions, but this introduces uncertainty and makes it much harder to predict reported earnings than under historical cost, which the USA uses. Although fair value is more relevant, often it is not reliable due to the influence of economic conditions on the valuation of assets. This increased volatility will lead to retraining in every area of accounting. With the change to IFRS, there will be a large amount of rethinking and retraining for areas such as financial planning and forecasting as well as in target setting, but the major area it will affect is the reporting of financial statements. Another issue regarding the convergence of the USA to the IFRS accounting standards is the effect it will have on IT systems. As the adoption of IFRS starts to gain momentum among many counties, global business will be dealing with major changes over the next few years. According to Pratt (2010), not only are private companies considering the IFRS, but also public companies including banks and private investors who also have growing concerns about the implication of the convergence. This adoption of IFRS by the USA will bring about several changes in the way recording and reporting financial data is carried out. This is due to the differences between IFRS and U. S. GAAP standards. It has been found that there are 103 differences between IFRS and U. S. GAAP in the way recording of data happens. Management in the performance and technology division of KPMG suggests that the change to IFRS will drastically affect the accounting IT systems in the USA (Pratt, 2010). One of the major concerns for the USA is that under IFRS the financial data needed to keep IT systems up to date will have to be more detailed and more frequent. It is also believed that the financial reporting ledger will be affected by adopting IFRS. Pratt (2010) claimed the US needs to ‘[m]ake sure that the new system accommodates IFRS if [companies] are planning to upgrade the system. ’ This will mean more money will need to be diverted from other key functions and into the development and upgrading of IT systems. With the major push for convergence, the USA needs to critically evaluate the effect that their move to IFRS may have on their IT systems and the software they use. Also, U. S. companies will need to become familiar with the new systems and technology before the change in order to keep up with international competitors. The major elements of the USA include the conceptual framework, financial reports, revenue recognition and inventory. Taking problems and issues into account, our group concludes that the convergence of the USA to IFRS would benefit both, the global economy and the USA. Although problems with financial reporting, volatility, retraining and IT systems may arise, converging to international standards will allow users to have easy comparisons between companies and greater transparency. In conclusion, we feel it is beneficial for the USA to converge to international standards so that there are a set of global standards for all companies to follow. Word Count: 1491 BIBLIOGAPHY Books Fargher, N, Wise, V, Kieso, DE, Weygand, JJ Warfield, TJ 2008, Fundamentals of Intermediate accounting, John Wiley Sons Australia, Milton. Websites Ernst Young, 2010, Revenue Recognition, viewed 29 September 2011, Ernst Young, 2010, Inventory, viewed 29 September 2011, L. Gordon Crovitz. 2008 (September 8). Closing the Information GAAP, viewed 29 September 2011. lt; http://online. wsj. com/article/SB122083366235408621. html Mary E. Barth. 2004. Fair Values and Financial Statement Volatility, viewed 29 September. Journal Articles Todd M. Hines 2007 ‘International Financial Reporting Standards: A Guide to Sources for International Accounting Standards’; Journal of Business Finance Librarianship, Vol. 12(3), p. 1-8 McAnally, M, McGuire, S, Weaver, C 2010, ‘Assessing t he Financial Reporting Consequences of Conversion to IFRS: The Case of Equity-Based Compensation’, Accounting Horizons, Vol 24 (4), p. 589-621 Gornik-Tomaszewski, S 2003, ‘Short-Term Convergence Between US GAAP and International Financial Reporting Standards’, Bank Accounting Finance (08943958), Vol 16 (5), p. 39-42 Tarca, A 2004, ‘International Convergence of Accounting Practices: Choosing between IAS and US GAAP’, Journal of International Financial Management Accounting, Vol 15 (1), pp. 60-91 Pratt, MK 2010, ‘GET READY FOR GLOBAL ACCOUNTING’, Computerworld, Vol 44 (3), p. 21-23 Laux, C. Leuz, C 2009. ‘The crisis of fair-value accounting: Making sense of the recent debate’. Accounting, Organizations and Society. V 34 (6-7), p. 826-834 How to cite Accounting Standards in the United States of America, Papers

Evaluation of Literary Elements an Occurrence at Owl Creek Bridge. Essay Example For Students

Evaluation of Literary Elements: an Occurrence at Owl Creek Bridge. Essay An Occurrence at Owl Creek Bridge: Evaluation of Literary Elements Swinging from a noose off a railroad trellis, many thoughts race through a condemned man’s mind. In â€Å"An Occurrence at Owl Creek Bridge,† Ambrose Bierce effectively uses literary elements to allow the reader to look through the keyhole of the mind of a dying man in his last moments of life. Elements such as realism, flashback, metaphor/simile, setting, point of view, and character allow the reader to become immersed in an intrigue of the main character’s psyche. The story begins with the events immediately leading to the hanging. This rrangement of time encourages the reader to formulate questions regarding the past. Effectively, the author uses flashback to supply information about the character’s family and the events leading up to the hanging. The reader learns that Peyton Farquhar, the main character, is a civilian with a strong desire to serve the Southern Cause. (Bierce 1, Act II) He is setup by a Federal Scout posing as a Confederate soldier (Bierce 2, Act II, 24) with information that will eventually lead to Peyton Farquhar’s demise. The entire second act of this story is flashback and is designed to answer the reader’s inevitable questions. Metaphor is used most noticeably in the opening section of the story. The phrase â€Å"Death is a dignitary† (Bierce 3, Act I) evokes images of an older, dignified gentleman with a quiet, reserved personality. Likewise, the explanation of military etiquette shows respect for death in the formal, quiet, ceremonious way the hanging was accomplished. This was especially evident in the motionless state of the company observing the hanging. (Bierce 4, Act I) In addition, I found dignity and respect was even given to the main character. He was still in possession of his watch, for example. Also, comparison is made using simile. â€Å"They (pains) seemed like streams of pulsating fire, heating him to an intolerable temperature. †(Bierce 5, Act III) allows the reader to imagine the intensity of the pain. This comparison is particularly effective because the sensations of heat and cold are some to the first learned sensations experienced in early childhood. Ambrose Bierce uses very effective descriptions, allowing the reader to visualize the events. The setting of the story is enhanced by these descriptions. Not only does the author tell the reader that the story takes place during the Civil War, but descriptions of weapons, uniforms, and other surroundings place the reader in that time and add to the believability of the story. For example, the â€Å"rustic bench near the entrance to his grounds† gives the reader and image of a large estate with a bench at the entrance, perhaps a cast iron bench with a green cast from mold growing in the shade of large trees on the plantation. The phrase â€Å"a light cloud of blue smoke rising from the muzzle† gives the reader an image of the gun and dates the gun’s operation. The use of a cannon in the story also adds to the Civil War setting. The third person point-of-view is used in a compelling way by the author. By describing the events in great detail as the main character sees them, the passage of time is slowed. The events described during the character’s hallucination, â€Å"actually takes place in only the few seconds of his free fall† (Hall 1) suggesting â€Å"that time is subjective and relative to the observer. † (Hall 2) Normally, one would consider someone trying to sabotage a bridge to be the antagonist of the story. However, in this story, the main character has become the protagonist by virtue of being the underdog. He was duped into his actions due to a setup by a Federal Scout, eliciting the sympathy of the reader. In addition, stronger sympathies are likely to be had by readers in the South due in large part to stereotyping. In conclusion, the literary techniques used by Ambrose Bierce made â€Å"An Occurrence at Owl Creek Bridge† a compelling story that captures the reader’s attention through unanswered questions and a surprise ending. Detail adds to the setting, making the story realistic. .u5e9af85116844ec190b984f4fa0c8f91 , .u5e9af85116844ec190b984f4fa0c8f91 .postImageUrl , .u5e9af85116844ec190b984f4fa0c8f91 .centered-text-area { min-height: 80px; position: relative; } .u5e9af85116844ec190b984f4fa0c8f91 , .u5e9af85116844ec190b984f4fa0c8f91:hover , .u5e9af85116844ec190b984f4fa0c8f91:visited , .u5e9af85116844ec190b984f4fa0c8f91:active { border:0!important; } .u5e9af85116844ec190b984f4fa0c8f91 .clearfix:after { content: ""; display: table; clear: both; } .u5e9af85116844ec190b984f4fa0c8f91 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u5e9af85116844ec190b984f4fa0c8f91:active , .u5e9af85116844ec190b984f4fa0c8f91:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u5e9af85116844ec190b984f4fa0c8f91 .centered-text-area { width: 100%; position: relative ; } .u5e9af85116844ec190b984f4fa0c8f91 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u5e9af85116844ec190b984f4fa0c8f91 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u5e9af85116844ec190b984f4fa0c8f91 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u5e9af85116844ec190b984f4fa0c8f91:hover .ctaButton { background-color: #34495E!important; } .u5e9af85116844ec190b984f4fa0c8f91 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u5e9af85116844ec190b984f4fa0c8f91 .u5e9af85116844ec190b984f4fa0c8f91-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u5e9af85116844ec190b984f4fa0c8f91:after { content: ""; display: block; clear: both; } READ: Battered Woman Syndrome Defense EssayThe author’s use of comparison adds to the detail, engaging the reader as though he was present at the events of the story. In addition, the sympathy felt by the reader with the protagonist, makes the final moments of the character’s death resonate an emotional response. Works Cited: Bierce, Ambrose. â€Å"An Occurrence at Owl Creek Bridge. † The Norton Introduction to Literature. Ed. Alsion Booth, J. Paul Hunter, Kelly J. Mays. W. W. Norton Company: New York, 2006. 507-513 Hall, Michael. â€Å"Owl Creek Bridge- Ambrose Bierce. † Generation CobWeb. 19 July 2007

Introduction to Hospitality Industry Beverage Companies

Question: Discuss about the Introduction to Hospitality Industry for Beverage Companies. Answer: Executive summary Every organization dealing with food and beverages seek to gain a competitive advantage which can assist it to succeed in its operations. In order to stand out in the market, it is always important to come up with ideas that can assist the organization to stand out by acquiring a competitive advantage. The most common strategies which food and beverage outlets are currently using to stand out in the market include; ensuring the companies produce high quality products than its competitors, ensuring their the prices are slightly lower, coming up with products that can be easily differentiated from those of companies which produce similar goods, offering take away and delivery services, installing free WIFI in their premises and so forth. This paper will look at different strategies which food and beverage companies are currently using to gain competitive advantage. It will also give an overview of the comparative nature of various companies which operate this kind of business in Sydney and also cover some examples of bars and upmarket restaurants that have succeeded in the use of competitive advantage and value chain analysis strategies in Australia. Competitive advantage Competition is a major challenge affecting hospitality and other industries today (Silverman, 2011). Competitive advantage provides an edge over the competitors and the possibility of establishing a greater value for an organization and its shareholders. Companies with competitive advantage generate more sales or superior margins than their competitors. Because so many foods and beverage outlets are emerging almost each day, there is an urge for the people who operate this kind of businesses to find out strategies which can assist them in dominating the market. There are three major strategies which an organization can use in order to gain a competitive advantage. The three include seeking to attain cost advantage through selling products at lower prices, attaining differentiation advantage through ensuring your products are of high quality and finally through attaining a competitive advantage by using the right distribution channels, creating brand awarenss and so forth. The diagram below shows the major sources of competitive advantage and how they can be attained. For food and beverage outlets to gain competitive advantage, they have to work on various things like their cost structure, brands, customer support, and intellectual property (Thompson Tracy, 2011). There are two types of competitive advantage which can be used by food and beverage outlets. These are comparative advantage and differential advantage Comparative advantage Comparative advantage is the companys ability to produce foods and drinks at a reduced cost than other enterprises which produce similar goods (Frank, 2011). This strategy can give food and beverage outlets the capacity to generate a larger margin on its annual sales. Comparative advantage can assist this kind of businesses to sell its products at a price that is lower than that of its competitors and still realize good profits because production cost mostly drives the sale prices. The best ways in which food and beverage outlets can achieve comparative advantage is by paying attention to some factors like using more efficient internal systems, using economies of scale, embracing technology and innovation, expanding in areas which can promise low-cost labor and so on (Levander Geterl, 2015). Although these factors can help companies to attain competitive advantage, it does not mean the entity can produce better foods or beverages, but rather, they can sell their products at a price which is lower than their competitors. Differential advantage Food and beverage outlets can attain comparative advantage by producing products that are so different from those of their competitors and are perceived to be more superior by the consumers (Still, 2010). A food and beverage outlet can achieve a differential advantage by coming up with products that have different features than those of its competitors, and also products which can make the company win customer loyalty. In most cases, food and beverage outlets have been using differential advantage as a stepping stone in achieving both their short and long term goals. Fast food and beverage outlet can gain a differential advantage through several aspects like; using advanced technology, using sound and attractive business slogans, use of patents and copyrights, superior personnel, using brand protected products, using robust and unique brand names and so on (Burrows III, 2013). Use of these factors assists the customer in differentiating your products from those of competitors. Use of patent can also prevent the competitors from using your brand names. Differential advantage makes customers build loyalty with a particular company because it makes them believe what they get from that company is so unique, and they cannot get it from other businesses. Food and beverage outlets use the differential advantage to make their customer think the food and drinks they get from a particular store are of high quality than those of their competitors. Value chain analysis Value chain analysis involves evaluating all activities that affect the inputs and outputs of goods or services that customers seem to show high demand for them. The concept of value chain analysis was first described by a person known as Michael Porter in 1985 (Fromm Garton, 2013). According to porter, primary activities like operations and outbound activities must be combined with support activities like technology for a firm to realize a firm to succeed in its operations. The diagram below gives an overview of porters value chain analysis model Fast food and beverage outlets can make use of these strategies to establish high sales, win competition, and attract customer loyalty. Value chain analysis describes different activities that take place in food and beverage outlets and relates them to the analysis of the companys competitive strength. Food and beverage outlets perform value chain analysis based on two approaches depending on the nature of competitive advantage they want to establish (Still, 2010). The two approaches which can be used by these companies are; Cost or differentiation advantage. The cost advantage is mostly used by businesses that compete on costs. On the other hand, differentiation advantage is used by outlets that strive to come up with superior products. Value chain analysis enables food and beverage outlets to experience greater profit margins than their competitors because it assists them to experience increased sales (Levander Geterl, 2015). It also enables these businesses to put much attention on activities that are likely to convert their production inputs into the outputs that are valued by the consumers. The primary activities included in value chain analysis in these types of businesses include focusing on the inputs, changing them into outputs and delivering them to the consumer. When food and beverage outlet is efficient in combining these measures to produce superior products, the consumers are always willing to purchase the products at higher prices than the production cost, hence assisting the firm to realize higher product margins. For food and beverage outlets to succeed in their value chain analysis, they should always identify activities that are likely to add value to their products and analyze them so as to reduce production costs or increase differentiation (Burrows III, 2013). They also should find out the most valuable activities and the ones that need to be improved so as to provide a competitive advantage for the organization. The competitive nature of the Sydney food and beverage industry Foods and drinks are among the major factors that influence Australian economy (Levander Geterl, 2015). In this country, the hospitality industry is highly dynamic and driven by customers who seek for diversity, quality and value. Both large and small manufacturing companies in this sector use every possible mean to ensure it stands out in the market through attracting as many customers as possible. Most of the food and beverage companies in Sydney are emphasizing on innovation and technological advancements as their primary strategy of improving their competitive advantage (Tidd Bessant, 2013). Innovators in this industry are looking for new mechanisms of promoting food and beverages so as to make them suitable for their customers. Focus on technological advancements and innovation has been assisting most of these companies in Sydney to expand their lines of production, hence enabling the consumer to have wider selections. Because most of the consumers are becoming health conscious, most companies are putting much attention on salt and fat content to ensure they produce health friendly products for their customers (Still, 2010). Currently, enterprises that are emphasizing on the production of low-sodium or low-fat alternatives realize competitive advantage than businesses that do not consider these factors. Cost minimization is another strategy which most food and beverage companies are using to gain competitive advantage. Most of them have realized that with reduced production cost, they can sell their products at reduced prices and still achieve good profits (Levander Geterl, 2015). Companies which use strategies which lead to cost minimization and sell their products at reduced prices witness competitive advantage because their prices attract most customers in the market. Understanding consumer behavior is another factor which is enabling some of the food and beverage companies in Sydney to gain competitive advantage (Fromm Garton, 2013). In every business, customers are always the most valued stakeholders. Therefore, understanding their behaviors and knowing how to meet their demands is one way which can help an organization to succeed. Some of the food and beverage companies in Sydney have realized their consumers look to various sales channels to satisfy their needs (Burrows III, 2013). As a result of this, they have leveraged various mobile and online technologies as a mechanism for meeting this demand. This strategy has enabled most of the companies which have realized its advantage to attract many customers hence winning the competition. Some of the companies like Woolworths food group noticed emphasizing on low prices and improving customer shopping experience is one of the key strategies which it can use to win the competition (Burrows III, 2013). The company decided to use three fundamental principles to gain competitive advantage. The first principle was to improve the core offer to ensure the consumers value their enterprise; the second one was to concentrate on continuous innovations so as to meet the customer needs, and the last one was to work on efficiency. Competition being one of the biggest challenges in the food and beverage companies in Sydney, every company in this industry is using every possible measure to expand its market share (Burrows III, 2013). Some of the companies are trying to expand their business to various geographical locations within the country, and other nations so as attract more customers than their competitors. Product differentiation is another strategy which almost every company in this industry is trying to stress on. Using unique brand names and packaging enables customers to differentiate products from different companies (Fromm Garton, 2013). Woolworth is a good example of a company which has been paying attention to this issue. This company uses unique brand names and packaging which can enable its customers to differentiate their products from those of its competitors. Examples of bars and upmarket restaurants that exemplify these concepts in Australia As time goes on, competition is heating up in Bars and Upmarket restaurants in Australia (Levander Geterl, 2015). Most of the businesses in this category have been operating using these concepts. An example of a bar which has been using these strategies in its operations is Baxter Inn. This organization has been valuing its customers and doing everything possible to attract their loyalty. Some of the primary strategies used by this enterprise include; stocking high-quality liquor, reduced prices, employing people who know how to handle customer needs in a professional manner and so forth. Another example of a bar which uses these strategies is Bibo. The management of this restaurant has been using various measures to make sure most customers value their organization. Some of the strategies they have used to stand out in the market include ensuring customer comfort by fitting their bar with good lighting, proper ventilations, best music, and classic furniture. Bibo also values selling high-quality products to its clients. Their prices are also friendly to most people in the country. Most bars and upmarket restaurants that do not use strategies that can give them a competitive advantage fail in their operations because the competition is becoming a significant threat in the Australian market (Levander Geterl, 2015). To cut down production costs and increase profitability, most of these organizations are embracing the use of technology and innovation in their businesses. Others are including different types of beverages in their stores so that consumers may get all they need under one roof. A bar like Titus Jones has been conducting value chain analysis to ensure its competitors do not win its loyal customers. It has also been using strategies which can assist it in acquiring a comparative advantage like selling its products at reduced prices and making sure it stocks high-quality products (Levander Geterl, 2015). This bar also ensures its customers get good entertainment while enjoying their drinks through playing various types of music like hip-hop, rock and so forth. This bar also makes sure that its clients get every kind of liquor they like by stocking different types of beverages like spirits, wines, and beers. Most of the bars and upmarket restaurants are using these strategies to ensure their businesses attract many customers than their competitors (Burrows III, 2013). The most common strategies which almost each one of them is using is selling personalized brands, employing employees who know how to welcome and serve customers in a professional manner and furnishing their businesses with good furniture which ensure customer comfort How food and beverage outlets use menu engineering to maximize profit. Menu engineering which can also be called menu psychology is the analysis of profitability and popularity of various menu items and how they affect the placement of these items on the companys Menu (Inghilleri Solomon, 2013). Menu engineering is aimed at making the customer have the first impression of products which the company wants to be purchased on highest rate. Because most of the clients who visit food and beverage outlets spend at least two minutes with the menu, the management should ensure the Menu is attractive, and items are arranged in a manner that attracts customers at first glance (Levander Geterl, 2015). Organizations use Menu engineering to ensure their clients make the first impression on the most profitable products The primary goal of menu engineering is always to increase product profitability per guest (Fromm Garton, 2013). Menu engineering assists the managers with information concerning products profitability and popularity. This information enables them to come up with proactive planning, customer pricing decisions, and recipe planning. Most enterprises in the hospitality industry use this strategy to allow the organization in meeting its profit targets (Burrows III, 2013). With menu engineering, managers can control food costs by analyzing which products need a lot of money to be produced, and what they can do to minimize such costs. It also helps them to come up with better decisions on how to improve the profitability of items that are not highly profitable for the organization. In most cases, menu engineering assists food and beverage owners to emphasize on the menu items that are likely to generate high profits for their businesses (Fromm Garton, 2013). They achieve this by ensuring such products are produced in large quantities and are available throughout. They also ensure those products are given priorities in their menus by placing them in the most eye-catching areas in their Menu. Menu engineering helps the management to evaluate the volume for every menu item against the cost and selling price of each item to see which one of them has the biggest demand and the level of profitability it generates (Burrows III, 2013).Menu engineering makes customers purchase the goods that the seller wants to be bought and avoid fewer profit items. For a food and beverage outlet, the menu is the most compelling merchandise tool because all products that make this kind of businesses to succeed flows in the menu. Most of the Food and beverage outlets use menu engineering in controlling their pricing and making decisions which can assist in cost reduction (Kisilowski, 2014). Use of menu design helps this kind of enterprises to minimize the chances of making losses because all products are sold at prices which are above their production costs. Some of the food and beverage outlets have been taking their Menu as a valuable tool which can assist them in coming up with decisions which can help them to maximize their profitability (Burrows III, 2013). Menu engineering helps restaurant owners to calculate all costs incurred in production of all menu items and come up with decisions on how to minimize the production cost and maximize profitability For food and beverage outlets to maximize their profitability and periodic sales, they always ensure their products appear on the menu in a manner that aligns with their consumer psychology and buying behavior (Fromm Garton, 2013). Menu engineering enables food and beverage owners to place their high-profit products in the most eye-catching and visible places on their Menus. This technique allows the customers to give these products their first impression hence enabling these companies to maximize their profits. Conclusion Having seen examples of bars and upmarket restaurants which use these strategies in Sydney, we can conclude that competitive advantage and value chain analysis are fundamental tools which every company dealing with food and beverages should use. This is because these strategies can assist an organization to acquire large market share, attract customer loyalty, and also experience increased sales and profitability than its competitors. References Levander, C. F Guterl, M. P. (2015). Hotel Life: The Story of a Place Where Anything Can Happen. Chapel Hill, NC: The University of North Carolina Press Frank, R. H. (2011). The Darwin Economy: Liberty, Competition, and the Common Good. Princeton, NJ: Princeton University Press Turner, L. K. (2014). How the other Half Ate: A History of Working Class Meals at the Turn of the Century. Berkeley: University of California Press. Burrows III, p. R. (2012). The market-Driven Supply Chain: A Revolutionary Model for Sales and Operations Planning in the New on-Demand Economy. New York: American Management Association Goldstein. J Brown. D. (2013). Inside the California Food Revolution: Thirty Years That Changed Our Culinary Consciousness. Berkeley: University of California Press Inghilleri. L Solomon. M. (2010). Exceptional service, Exceptional Profit: The Secrets of Building a Five-Star Customer Service Organization. New York: American Management Association Tidd. J Bessant. J. (2013). Managing Innovation: Integrating Technological, Market and Organizational Change. Chichester, West Sussex, UK: Wiley Still. J. (2010). Derrida and Hospitality: Theory and Practice. Edinburgh: Edinburgh University Press. Haley, P. A. (2011).Turning the Tables: Restaurants and the Rise of the American Middle Class, 1880-1920. Chapel Hill, NC: University of North Carolina Press Vincent. L. (2012). Brand Real: How Smart Companies Live Their Brand Promise and Inspire Fierce Customer Loyalty. New York: American Management Association Mahnken, Thomas. G. (2012). Competitive Strategies for the 21st Century: Theory, History, and Practice. Stamford, CA: Stanford University Press Nolo, M. D. (2014). The Innovative Sale: Unleash Your Creativity for Better Customers Solutions and Extraordinary Results. New York: American Management Association Gitterman, D. P Coclainis, P. A. (2011). A way Forward: Building Globally Competitive South. Chapel Hill, NC: University of North Carolina Press Papke. E. (2014). True Alignment: Linking Company Culture with Customer Needs For Extraordinary Results. New York: AMACOM Oosterwal, D. P. (2010). The Lean Machine: How Harley-Davidson Drove Top-Line Growth and Profitability with Revolutionary Lean Product Development. New York: American Management Association Joseph. J. (2010). The Experience Effect: Engage Your Customer with a Consistent and Memorable Brand Experience. New Yok: AMACOM Kisilowski. M. (2014). Free Market in Its Twenties. New York: Central European University Press Thompson. M Tracy. B. (2011). Now, build A great Business! 7 Ways to Maximize Your Profits in Any Market. New York: American Management Association. Silverman. G. (2011). Secrets of Word-of- Mouth Marketing: How to Trigger Exponential Sales through Runaway Word of Mouth. New York: American Management Association Fromm. J Garton. G. (2013). Marketing to Millennials: Reach the largest and most Influential Generations of Consumer Ever. New York: AMACOM