Edgar Allan Poe s Poetry - 1327 Words

This research paper will focus on Edgar Allan Poe’s poetry. In Charles May’s bibliography of Poe, he states that â€Å"Poe gained great recognition in the early 1840’s for his creation of a genre that has grown in popularity ever since — the tale of ratiocination, or detective story, which features an amateur sleuth who by his superior deductive abilities outsmarts criminals and outclasses the police.† Along with creating the detective genre, he also created a more modern science fiction genre when he wrote the story â€Å"Hans Phaal, A Tale†. Since Poe was essentially one of the founders of horror and mystery based genres, a lot of things that we see today, either in shows, and movies that are horror or mystery based, or stories, have been inspired by some kind of extent by Edgar A. Poe’s works. These are just a few of his major contributions to literature. He is known as a very important, and extremely influential figure in American Literature also. He isn’t just influence for American, and European writers, but writers from all around the world. It been a little bit over a hundred and fifty years since he passed, but schools, and other educational areas are still using his work, along with others. It’s impressive. Edgar Allan Poe explores the theme of death. He writes about how people respond to death that occurs to a loved one in a beautiful, and rhythmic way. In Edgar A. Poe’s poem, â€Å"Lenore† it shows how harsh but optimistic Guy De Vere is when death strikes his loved one.Show MoreRelatedEdgar Allan Poe s Poetry960 Words   |  4 PagesParanormal Poetry Edgar Allan Poe’s poems and short stories reflect his psychological tension during tumultuous and estranged experiences. Major literary themes, centered around great loss and the search for eternal happiness, climax with pristine eloquence in all of his greatest works. Many of Poe’s prevalent portrayals of settings and characters remain unique in popular writings as a result of his own bizarre intimacies. Personal trials and struggles translated into fluent prose throughRead MoreAnalysis Of Edgar Allan Poe s Poetry915 Words   |  4 Pages Edgar Allan Poe was one of the greatest writers of the 19th century. He is is well known for his gothic themes and disturbing characters. Unfortunately, Poe lived a life full of sorrow and pain, having nearly everyone he loved die. His poem Alone is said to have been a confessional poem, recalling how Poe felt growing up. Poe’s use of repetition, metaphors, and imagery all aid in bringing the reader closer to understan ding what was going on in Poe’s mind. The poem Alone was not published untilRead More The Mystery of Edgar Allan Poe Essay1499 Words   |  6 PagesThe Mystery of Edgar Allan Poe What was the mystery of Edgar Allan Poe? Why was he so special? He was special because he helped change poetry by giving it different focuses. Through looking at Edgar Allan Poes life, we will understand what motivated him to write what he did, what the meaning was behind these works, and how this changed poetry. Before Edgar Allan Poe, the common belief was that poetry should be about Truth, and that it should impart some morals. Poe disagreed, and stronglyRead MoreEdgar Allan Poe : The Tale Heart, The Fall Of The House Of Usher, And Annabel Lee Essay1372 Words   |  6 PagesEdgar Allan Poe Edgar Allan Poe is well known for his poetry. Edgar Allan Poe was not only a world renowned poet, but he is also known as being a writer of short stories, as well as known for being a critic. Edgar Allan Poe has many literary works; quite possibly the most famous one being The Raven. Some of Edgar Allan Poe’s other famous works include The Tell-Tale Heart, The Fall of the House of Usher, and Annabel Lee. Edgar Allan Poe is also known as being a Romanticist, due to the factRead MoreBrianna Ruiz-Vannerson. Leonard Miller. Enc1102. Feb. 231548 Words   |  7 PagesMiller ENC1102 Feb. 23 2017 The Compelling Mind of Edgar Allan Poe Through: â€Å"Lenore† and â€Å"The Raven† Throughout the life of esteemed author Edgar Allan Poe, there have been many time that this extraordinary man’s life has been turned upside down with grief. His first encounter with this wretched demon was when he was no older than three years of age. The mother who birthed him dies and his father abandons them before her death (â€Å"Edgar Allan Poe†). He then is separated from his brother and sisterRead MoreEdgar Allen Poe: Birth and Military865 Words   |  4 PagesThe story of the 19th century Romantic era poet Edgar Allen Poe is an interesting one indeed. Throughout his life he played the role of a writer of short stories, an editor and critic of all works, and poet of emotion; revolutionizing each role through his extremely pragmatic style. As a writer, Poe wrote everything from love stories to comedies to horror stories, even inventing the detective mystery genre, and as a poet, he set out to use poetry to transmit and arouse the reader’s sense of beautyR ead MoreEdgar Allan Poe; Fame Inspired by a Tragic Life865 Words   |  4 Pagespoet, Edgar Allan Poe, had been plagued by grief from an early age. He was an amazing poet and author who just happened to have a darker story. Many who have studied this prestigious man feel that his works, though magnificent, were extremely dark. Some believe it was nothing more then a fancy for him to spin such gruesome tales. Others feel his work was manipulated by the misfortune of his past. These people have actually found evidence that agrees with this statement. The works of Edgar Allan PoeRead MoreThe Romantic Age Of American Literature1725 Words   |  7 Pagesplace which included slavery and woman s rights. This age brought about American literature which was free from European influence and ties. The writers during the Romantic Age wrote mainly about the person, they included clear and concise descriptions of people and nature. Many writers like Poe wrote about supernatural events like the devil, evil, and horror. This brought on a whole new genre of scary, detective, and mystery stories. While Edgar Allan Poe wrote utterly twisted plots, as seen inRead MoreEdgar Allan Poe s The Dark Poems That He Is Famous For?1423 Words   |  6 PagesEdgar Allan Poe Why did Poe write the dark poems that he is famous for? Almost every student has read either one or many of Edgar Allan Poe’s work. Poe is one of the best and most famous writers in American Literature. Professor Gene Doty of Missouri University of Science and Technology explains, â€Å"The meaning which the text has for the reader emerges from the interaction of the reader’s world with the world of the text† (Doty). Anything written is a context that includes the â€Å"writer’s feelings,Read MoreThe Tortured Poet : Edgar Allan Poe1312 Words   |  6 PagesThe Tortured Poet: Edgar Allan Poe â€Å"Beauty is the sole legitimate province of the poem† Poe, Edgar Allan. The Philosophy of Composition. 1846. The name Poe often brings to mind tales of horror and mystery, but this Poe was also a writer of sophisticated poems, capable of extreme poetic beauty within a dark genre of writing. Poe never lived the happiest of lives, but his writing is extraordinary, both for its execution, and for the sheer elegance of the words which he found to write upon the page

Affirmative Action vs Reverse Discrimination Essay

Affirmative Action or Reverse Discrimination Colleen Koehn Business Law 1038 Instructor Jackie Sexson March 1, 2010 South University Online There has been a large debate in recent years if affirmative action has gone against the American way, has affirmative action caused reverse discrimination? The establishment of affirmative action was put into place to create equal rights for racial minorities, ethnic minorities, women, the physically disabled and those who served in the military. Affirmative Action was born during the civil rights movement to give special consideration to minorities and women in the work place and education. In order for businesses and schools to increase their diversity they put in place quota systems.†¦show more content†¦After the implementation of the Philadelphia Plan, legislation was passed at the federal, state and municipal level implementing affirmative action plans using the Philadelphia Plan as a model. Today, almost all government affirmative action plans are offshoots of the Philadelphia Plan (Affirmative Action 2-3). Affirmative Action was not put in place to cause reverse discrimination. In the 1978 Bakke case, (www.infoplease.com) the Supreme Court upheld a decision to outlaw quota systems. In this case it brought up issues of reverse discrimination against a white man being turned down by admission to a medical college based on quotas the college had in place to reserve placements in their college for minorities. The college continued to overlook Bakke because he was a white male and they had a quota to meet to enroll minorities. With their quota system in place they continue to overlook Bakke and except less qualified minorities. This lead the Supreme Court to rule this as reverse discrimination and outlaw the quota system. In an article in the Washington Post called â€Å"Affirmative Action Under Attack† by Dan Froomkin (1998) he states that, â€Å"admission officers are put in a position to hire minorities over qualified whites based on quotas.†(paragraph 9) Affirmative action wasShow MoreRelatedEssay on Affirmative Actio n924 Words   |  4 PagesIntroduction Affirmative Action began in 1965 when President Johnson signed the Executive Order 11246 in to law. The Executive Order prevents federal contractors from discriminating against any employee or applicant for employment because of race, color, religion, sex, or national origin. The phrase â€Å"affirmative action† was first coined, when federal contractors were required to take affirmative action to ensure that applicants were not discriminated against in anyway. When affirmative action was createdRead More Affirmative Action Essay787 Words   |  4 PagesAffirmative action- a plan to offset past discrimination in employing or educating women, blacks etc. (Websters New World Dictionary.) nbsp;nbsp;nbsp;nbsp;nbsp;The history of affirmative action has its roots in the Civil Rights Act of 1964, and stems from the United States Supreme case of Brown vs. Board of Education of Topeka Kansas. In 1965, President Linden B. Johnson issued Executive Order #11246 at Howard University that required federal contractors to undertake affirmative action toRead MoreRacial Discrimination : The Worst Form Of Inequality1388 Words   |  6 Pagestry to make unequal things equal.† Racial discrimination occurs everyday to many different people. In America,the individuals who are usually discriminated against are the minorities like African Americans and Hispanics. Affirmative action is a policy that was created and has been claimed to be positive discrimination. The policy was created to give equal opportunity to groups of people who are usually discriminated against. Although Affirmative action has been named to be positive and support minoritiesRead MoreAffirmative Action : The United States956 Words   |  4 PagesAffirmative Action Affirmative Action has been around for many decades from around the 1940s. Although it has not always been called affirmative action, the official title was not introduced until the 1960s. Back then affirmative action was more known as segregation or discrimination in the workplace or there lack of. The women and people of color were the targets of discrimination, which several presidents tried to correct for equality. The Past During the Great Depression affirmative actionRead MoreAffirmative Action- Negative Team1486 Words   |  6 PagesModule 03: Group Position Paper: Affirmative Action Affirmative Action: Negative Team 1 Diversity in the Workplace Professor Linda Noeth Center for Distance Learning SUNY Empire State College Slavery in America can be traced all the way back to colonial times, or as historians have dated; 1619. Although slavery had technically been abolished by the late 1800’s, issues over race still remained prominent. Regulations such as â€Å"Jim Crow Laws†, that claimedRead MoreAffirmative Action in a Post-Racial Corporate World1488 Words   |  6 PagesAffirmative Action in a Post-Racial Corporate World It is the purpose of this paper to demonstrate that efforts to force corporations to account for abstract principles such as fairness, racial equality, etc., are largely futile. In the end, corporations are meritocracies, not vehicles for correcting social injustices. Indifference is the very trait that makes the angels weep, said Dr. Cornel West, Princeton Professor and public intellectual, to a congregation of black folk at a NAACP conferenceRead MoreAffirmative Action : An Effective Organization1430 Words   |  6 PagesEssay Professor Jeffery Cahan 05/10/2016 Affirmative Action According to Merriam Webster, by definition â€Å"Affirmative Action is an active effort to improve the employment or educational opportunities of members of minority groups and women. Also similar effort to promote the rights or progress of other disadvantaged persons† Affirmative action has been a hot topic among some American citizens and government officials. â€Å"Affirmative action is the process of a business or governmentalRead MoreAffirmative Action: Equality for All? Essay1741 Words   |  7 PagesAffirmative Action: Equality for All? Affirmative action in the United States has become a misused and misguided practice in modern times. In the current form of affirmative action, it is impossible to create a truly equal society. It was originally used as an equal opportunity measure to allow qualified minorities into positions they were denied because of race. However, affirmative action has become a system of racial quotas that lowers standards for minority applicants in order to give themRead MoreWhat is Affirmitive Action?934 Words   |  4 Pages Affirmative action or sometimes known as positive discrimination have been an issue that has going on around the world. Even though the policies vary from country to country, with some having quotas and others offering preferences in the selection process, the idea of providing special opportunities to a disadvantaged group remains universal. Our group choose this topic as we all have a personal interest in affirmative action and have had some form of affiliation with it in our lives. It can beenRead MoreFisher Vs. Texas State University Of Texas2466 Words   |  10 PagesFisher vs. Texas Background In 1997, Texas legislature passed a law that all high school seniors were to be accepted to the University of Texas if they finish in the top ten percent of their class. The University of Texas followed this law but found that their student body was becoming less and diverse. Universities believe that having a diverse student is an important part of learning. To add diversity, the University of Texas decided to modify its race neutral policy. Now the university would

What Is The Digital Millennium Copyright Act - 813 Words

I was not that long ago when a friend wanted to borrow a book all that needed to happen was to go inside and locate the physical book and hand it to them. Once the book was loaned out, you no longer had possession and could not read the book until it was returned. No special software or devices were needed to enjoy sharing and reading a book owned by a friend or associate. These books were still covered by copyright protection, but sharing your favorite author was easy and fun. It was not long after computers became more mainstream that books and other media could be found digitally produced by the author, creator or publisher. With this advancement came the ability to share a book or other media with a friend while retaining the original†¦show more content†¦What if the content server is not available? Temporary outages are common in the IT world, but what if the content server was permanently gone and no longer supported. Think about 8 tracks and cassette tapes. It will no t be long, if not already, where mainstream individual will not be able to play the content on that old format. There is also privacy concerns with a proprietary system. We do not know what information is really sent to Adobe.There is also a price concern. Part of the cost of digital media lies in the price of the DRM protection,which can be expensive especially for smaller artists or production companies. There are plenty of positive and negatives to be found, so where does this leave Adobe in the DMR space for the future? The trend for DRM can be seen with a recent ruling by W3C to standardize DRM content on the web. Though this ruling is far from perfect, and might even be worse than the current version, it does create a standard (Kastrenakes, 2017) . As with most first version standards, there is a way to go in making it work for most or all situations, but the trend is clear. Once a standard is created, nobody really owns it, so companies including open source versions are free to enter the market and produce a affordable competing product that everyone can use. DRM software is in place to protect the artist, writer andShow MoreRelated The Effects of the Digital Millennium Copyright Act of 1998 Essay1313 Words   |  6 PagesThe Effects of the Digital Millennium Copyright Act of 1998 The verb copy is defined as â€Å"To reproduce an original.† (Webster, 57-58) This idea of copying has been around for hundreds of years. In the current time, laws have had to be written to protect against the idea of copying someone else’s work. There are ways around the copyright laws. â€Å"A copy is in violation of a copyright if the original can be â€Å"perceived, reproduced, or otherwise communicated by or from the copy, directlyRead MoreCensorship And The Media Of Censorship1407 Words   |  6 Pagesentire Internet. Public’s right to privacy and censorship awareness is a very real thing we should come to realize and analyze. Censorship affects the public in very real ways, it can both aid and deter the spread of propaganda. People need to consider what type of information is being spread through these outlets. Focused on how people perceived as such actions with fear and uneasiness, it’s fair to note that contrast between censoring and right to freely spread information. It can lead to an increaseRead MoreUSAs Copyright Law1487 Words   |  6 PagesCopyright Law 1.Copyright law offers copyright holders the exclusive right to reproduce, distribute, and publicly perform copyrighted work (Carnes). The copyright holder has the authority to govern how the copyrighted material is distributed by giving specific permissions in writing. Without a specific written permission, no one has the rights to distribute or sell the copyrighted work. By selling collections that contain the whole program of the copyrighted material, Software of the Month ClubRead MoreEssay about The Digital Millennium Copyright Act1449 Words   |  6 PagesThe Digital Millennium Copyright Act Signed into law by President Clinton on October 28, 1998, the Digital Millennium Copyright Act (DMCA) was the foundation of an effort by Congress to implement United States treaty obligations and to move the nations copyright law into the digital age. (Executive Summary DMCA Report) While this seems a valid description of the law, perhaps a more accurate interpretation lies in the following statement: The DMCA is a piece of legislation rushed throughRead More Copyrights: Intellectual Property and Technology Essay1535 Words   |  7 PagesCopyrights: Intellectual Property and Technology The Government and many other agencies around the world are continuously at work to improve protections for intellectual property rights and the enforcement of intellectual property laws. In today’s age of digital madness, passing legislation and actually enforcing of those laws becomes a very daunting task. However, the protection of intellectual property has both individual and social benefits. It protects the right of the creator of something ofRead MoreDigital Technology And Its Effects On The World1639 Words   |  7 Pagesexperienced vast improvements in technology and what seems as an endless expansion of the Internet, and as a result, laws and legislation have had to evolve was well. Technologists and policymakers exist in â€Å"two worlds, â€Å"two cultures† when it comes to viewing a problem and developing a solution. Nevertheless, technologist and policymakers have been up against some very complex issues such as how to control piracy of copyrighted digita l media. However, copyright owners have sought out legal means to protectRead MoreReading Copyright and the Issue of Downloading Essay1411 Words   |  6 PagesReading Copyright and the Issue of Downloading When you buy music legally, there is usually a copyright mark somewhere on the product. Stolen music generally does not bear a copyright mark or warning. Either way, the copyright law still applies. A copyrighted creative work does not have to be marked as such to be protected by law. â€Å"The copyright allows the holder to control the reproduction, display, distribution, and performance of a protected work,† (Corley, Moorehead,, Reed, SheddRead More The Digitial Millenium Copyright Act Essay3311 Words   |  14 PagesMillenium Copyright Act As current lawsuits unfold and the history of the Internet progresses, the debate over the future of the Digital Millennium Copyright Act thrives. The Digital Millennium Copyright Act, signed into law by President Clinton on October 28, 1998, was written in an attempt to strike a balance between the rights of a work’s creator to receive adequate compensation and society’s fundamental right to freedom of information. The bottom line is that the objective of the Digital MillenniumRead MoreCopyright And Public Domain Within The Entertainment Industry907 Words   |  4 PagesCaitlin Davis Project Proposal Assignment Dr. Fox-Horton 19 February 2017 Copyright and Public Domain within the Entertainment Industry What aspects make up intellectual property? How is it protected? According to Leslie Ellen Harris, it is important to shed light on just what copyright is. She writes, â€Å"Section 102 of the U.S. Copyright Act states the following: In no case does copyright protection for an original work of authorship extend to any idea, procedure, process, system, methodRead MoreImpact Of The Digital Millennium Copyright Act On Copyright Enforcement And Fair Use3378 Words   |  14 PagesImpact of the Digital Millennium Copyright Act on Copyright Enforcement and Fair Use Jean-Paul Muyshondt University of North Carolina Wilmington Abstract The Digital Millennium Copyright Act of 1998 has changed the focus of copyright enforcement away from the act of copyright infringement and toward the act of circumvention of the technologies used to protect the rights of digital media owners. Additionally, the act has had adverse effects that outweigh the benefits that it provides. Key Words:

Social Construction Theory Of The National Football League

Recently, an increasing number of African American football players have been leaving their respective colleges with years of eligibility left, to pursue a dream of playing in the National Football League. This year alone, 101 athletes will be forgoing their remaining years of college eligibility to enter the NFL draft. Thus representing a staggering increase from the 40 early entrants in 2007 (Heitner). This decision seems deceptive, in that it appears explicitly based on utility maximization and the traditional economic theory of Becker and Stigler. That model does provide an adequate explanation based on set universal preferences with efficiency determining the price of commodities. However, I believe that it is more accurately modeled as a function of a socially constructed framework of choice. Berger and Luckmann’s social construction theory presents the opportunity to understand more fully the background of these athletes that shapes their decision-making process. In my analysis, utility maximization is embedded within this social construction framework. Given this, not only can we understand the conventional economic reasons for this decision, but also the socialization that shaped the individuals to that point. I will demonstrate that the choices of these athletes can be analyzed by taking into account how each person’s preferences and efficiency is molded by their socialization. To prove the value of my approach, I examine cases chronologically, delving into theShow MoreRelatedDeterminants of Violence in the Greek Football League a Case Study of Paok Fc Supporters13608 Words   |  55 Pagesincidents in the Greek football league are concerned. In the first part of this research project some theoretical considerations about determinants of violence, crime and delinquency in general and in sports are being analysed. For the purposes of this study I contacted a small-scale case study research project with 300 PAOK Thessaloniki FC supporters; in an attempt to determine the factors that contribute to the genesis or escalation of violence in the Greek football league. TheRead MoreThe Success Of The Club2548 Words   |  11 Pagesdirectly against the interests of the fans who are the most important stakeholder. Matt Busby, a former manager of Manchester United, said â€Å"The fans are the heart of football.† Clubs in the Premier League are different from standard businesses in that they are an intrinsic part of the fans’ lives and have a significant amount of social and cultural importance to their local communities. Also, the clubs depend on their fans and communities for their existence and growth; consequently, the teams mustRead MoreMajor League Baseball Helping Developing Countries2929 Words   |  12 Pages Major League Baseball Helping Developing Countries: The Case of Domician Republic Presented by Instructor Course Title Date In one way or another Major League Baseball (MLB) has been existence since 1869. It is a certified professional baseball organization that comprises major certified sports leagues in North America. The teams of the MLB play in various leagues such as the National League. The MLB also supervises minor league baseball leagues that are connectedRead MoreManchester United4671 Words   |  19 Pagesconsumption towards internet, mobile and social media platforms presents us with multiple growth opportunities and new revenue streams. Our digital media platforms, such as mobile sites, applications and social media, are expected to become one of the primary methods by which we engage and transact with our followers around the world.   In addition to developing our own digital properties, we intend to leverage third party media platforms and other social media as a means of further engaging withRead MoreA Critical Review of â€Å"the Ambiguities of Football, Politics, Culture, and Social Transformation in Latin America† by Tamir Bar-on.14147 Words   |  57 PagesA Critical Review of â€Å"The Ambiguities of Football, Politics, Culture, and Social Transformation in Latin America† by Tamir Bar-On. Introduction: In Latin America, soccer is not a game; it is a way of life. It is mixed in with politics and nationalism. It defines social classes. How politically influential is soccer in Latin America? It is used by â€Å"various Latin American socio-economic elites in order to retard the acceleration of working class and popular discontent† (Bar-On 1997:1.8). Is itRead MoreHomosexual Athlete And The Athlete Essay2063 Words   |  9 Pagesbe an athlete and what it is to be homosexual, the words homosexual athlete and the athlete himself are not always met with the warmest of regards. The reason for this dissonance can be somewhat explained through the Role Congruity Theory. Role congruity is the social phenomenon that an individual is perceived more positively when their actions and behaviors are consistent with their gender (Lanter 2008). When action and gender are perceived to be inconsistent the perceptive party feels dissonanceRead MoreSocial Capital By Robert Putnam1849 Words    |  8 Pages Social Capital : Robert Putnam Professor name – Dr. Josephine Anthony Ramesh Prakash Khade M2015CF022 Social capital refers to the resources available in and through personal and business networks. Social capital defines that social networks have value. Social capital also refers to collective value of all â€Å"social networks† and the fact arise from the things doing for each other in networks. The term Social Capital emphasizes not just feelings but, a wide variety of benefits whichRead MoreIntangible Asset Accounting and Accounting Policy Selection in the Football Industry85391 Words   |  342 PagesINTANGIBLE ASSET ACCOUNTING AND ACCOUNTING POLICY SELECTION IN THE FOOTBALL INDUSTRY by NICHOLAS ROWBOTTOM A thesis submitted to the Faculty of Commerce and Social Science of The University of Birmingham for the degree of DOCTOR OF PHILOSOPHY Department of Accounting and Finance School of Business Faculty of Commerce and Social Science The University of Birmingham July 1998 University of Birmingham Research Archive e-theses repository This unpublished thesis/dissertation is copyrightRead MoreSport As A Sociocultural Constructed Phenomenon1821 Words   |  8 Pagesdefines gender as â€Å"the attitudes, feelings and behaviours that a given culture associates with a person ´s biological sex†. While sex relates to the biological body, gender concerns masculinity and feminity approaches (Roper, 2013). Gender, as a social construction, is a central part of the human ´s identity (Griffin and Carroll, 2010), as it shapes every person daily ´s life. Through the gender stereotypes, different roles are attributed to men and women (Alfaro, 2008). Gender stereotypes refer to â€Å"beliefsRead MoreEssay on A.P.U.S.H unit 6 study guide4910 Words   |  20 Pageshome in the late 1800s. They were treated as second class citizens and took jobs doing hard labor and domestic work. Most were paid poorly. 8 What led to the increasing Anglo-European hostility toward the Chinese in California? What were the social and public policy results of this hostility? In the early days of the Gold Rush most Anglo-European miners worked alone. The Chinese miners worked as a team. Their success stimulated resentment and violence by Anglo-European miners. They saw Chinese

Private Equity Funding in India †Issues and Challenges Free Essays

string(96) " PE funding is flowing into existing growth oriented companies which may be listed or unlisted\." India is the largest democracy in the world. Its main strength is availability of abundant skilled and cheap manpower. The country has been on growth trajectory in all fields as a planned economy thus becoming a safe and attractive destination for foreign investment. We will write a custom essay sample on Private Equity Funding in India – Issues and Challenges or any similar topic only for you Order Now Currently, in terms of Purchase Power Parity, it is the fourth largest economy and tenth most industrialized country in the world.Successive Governments had taken major initiatives for industrial development, simplification of investment procedures, enactment of investor-friendly laws, liberalization of trade policy, safeguards of intellectual property rights, liberalization of exchange regulations, reforms in Capital and Stock Markets, etc. Ever since Indian economy underwent series of reforms from 1991, there have been progressive steps in banking, finance, industry, investment climate, incomes, employment, legal environment, etc. India is shining with an average growth rate in GDP at about 9% pa.Investments from FIIs, increased FDI in several sectors, surging Foreign Exchange reserves, controlled inflation rate, deregulated interest rates, etc. , have been witnessed in recent years. GOI recognizes the key role of FDI for economic development and as an important source of technology and global best practices. Capital Market has undergone dramatic changes, with SEBI as regulator, yielding returns to all segments of investors – retail or wholesale. Information Technology is playing a vital role in effective functioning of all the players. 2. Private EquityPrivate Equity, which is a sub-set of Venture Capital, is medium to long-term finance provided in return for an equity stake in potentially high growth unquoted companies. This informal method of financing became an industry globally in the late 1970s and early 1980s in the advanced western world when a number of private equity firms were founded and recognized as asset class. Throughout 1990s the technology hype, internet boom and massive capital investment propelled the New Economy revolution, but internet mania in the late 1990s caused IEC stocks to skyrocket until the dot com bubble burst in March 2000.Even though SEBI formulated guidelines for VCs on the basis of KB Chandrasekhar Committee, as on date there are no clear cut guidelines for Private Equity investment. In the post-reforms era, there is availability of abundant P E funds in India in almost all sectors including Technology and SME too surpassing certain Asian countries like China. GOI, CBDT, DIPP, SEBI and RBI are closely watching the phenomenon of inflow of PE Funds into Indian industries. Bottom of Form US-based PE outfit, Argonaut is investing around Rs. 0 Crores in menswear brand Koutons to fund its expansion plans. E-Planet announced a second global fund, which will have allocations for India. A Report on Venture Capital (VC) investment in India seems to be very bullish on the prospects and has estimated that as much as $4. 4 billion will flow into India via VC funds over the next one year. Government of India is in talks with top global PE funds such as Citigroup, Blackstone, and other Institutional investors to team up and raise $7. 0 Billion through a special fund to finance a stream of infrastructural projects.The above deals made the authors attempt to study recent trends, developments, issues and challenges with regard to Private Equity in India to sustain the current scenario. 2. 1 What is Private Equity? Private Equity is medium to long-term finance provided in return for an equity stake in potentially high growth unquoted companies. Some commentators use the term â€Å"Private Equity† to refer only to the buy-out and buy-in investment sector. Others, in Europe but not the USA, use the term â€Å"Venture Capital† to cover all stages, i. e. synonymous with â€Å"Private Equity†.In the USA â€Å"Venture Capital† refers only to investments in early stage and expanding companies. PE provides long-term, committed share capital, to help unquoted companies grow and succeed. If an investee is looking to start-up, expand buy-into a business, buy-out a division of a parent company, turnaround or revitalize a company, PE could help to do the same. Obtaining PE is very different from raising debt or a loan from a lender, such as a bank or a financial institution. Lenders have a legal right to interest on a loan and repayment of the capital, irrespective of its success or failure.PE is invested in exchange for a stake in company and, as shareholders; the investors’ returns are dependent on the growth and profitability of the business. To avoid confusion, the term â€Å"Private Equity† is used to describe the industry as a whole, encompassing both â€Å"Venture Capital† (the seed to expansion stages of investment) and Management Buy-Outs and Buy-Ins. Private Equity is a broad term that refers to any type of equity investment in an asset in which the equity is not freely tradable on a public stock market.Categories of Private Equity investment include leveraged buyout, venture capital, growth capital, angel investing, mezzanine capital and others. 3. Review of Literature Although it started in a modest way in mid-seventies, Indian companies received almost no PE / VC funding a decade ago as compared to present day inflows. This scenario began to change in the late 1990s with the growth of India’s Information Technology (IT) companies and with the simultaneous dot-com boom in India.VCs started making large investments in these sectors; however the bust that followed led to huge losses for the PE and VC community, especially for those who had invested heavily in start-ups and early stage companies. After almost three years of downturn in 2001-2003, the PE market began to gradually recover towards the end of 2004. PE investors began investing in India in a big way, except this time they began investing in other sectors as well (although the IT and BPO sectors still continued to receive a significant portion of these investments) and most investments were in late-stage companies.Early-stage investments have been dwindling or have, at best, remained stagnant right through mid-2006. In the Indian context, VC funding is extended generally to idea-based, start-up and unlisted companies. The present trend of PE funding is flowing into existing growth oriented companies which may be listed or unlisted. You read "Private Equity Funding in India – Issues and Challenges" in category "Papers" Smolarski, Jan et. al. (2005) in their study examined how Indian VC and PE firms manage several dimensions of risk by making a comparison between Indian and U. K. funds. Kautilya Shastri (2005) suggested that India is experiencing a second wave of interest in PE; the first was in the late 990s. But unlike the late-1990s boom of flows to technology companies, money is heading into a broad range of sectors, reflecting the strong performance of the economy and should continue to gather strength. Palmeri, Christopher, Sasseen, Jane (2006) have observed that the size and scope of the buyouts are raising concerns about a potential wave of credit defaults down the line. With so much money chasing deals, PE firms are pricing for perfection, even as they venture into unfamiliar areas. And if companies can’t generate enough cash to meet mounting interest payments, bankruptcy may loom.They also explained why PE players are moving beyond their normal stomping grounds into areas where they may confront complex new issues, keeping in mind, 436 new funds had raised a record $300 billion worldwide as of early October, 2006, according to industry tracker – Private Equity Intelligence. Erica Duecy (2006) indicated that even though fueling restaurant companies’ growth th rough strategic M A has become tougher in recent years, as PE firms buy up more and more available brands, thus pricing acquisitive foodservice firms out of the market.Rosenbush, Steve (2006) opined that the big PE funds and pension funds are drawn to one another because of the dynamics of the industry. The players in the top quartile of private-equity funds tend to stay there, unlike the public markets, where the concept that past performance is no guarantee of future profits is accepted as common wisdom. Zaczkiewicz, Arthur (2006) looked at the business conditions facing PE firms in 2006 and indicated that it is a good time to borrow money to grow a business. With global M A volume reaching $2. 7 trillion in the first nine months of 2006, it was described that the current conditions are unprecedented. Walker, Jacqui (2006) in his research article discussed that the competition among PE firms for quality deals is deterring superannuation funds from investing in private equity based on the data collected from Australia. Wells, Kathryn (2006) finds out the cause for the stock market crash in the Gulf earlier this year which provided a clear illustration of the adage that one man’s meat is another man’s poison.Some market observers believe that many of the large number of firms that have begun raising PE funds in the region in recent months will struggle to produce good results for their investors without having any idea what PE is really about by hinting that there may a risk of a bubble developing in this market too. Li Shan (2006) forecasted the culmination of the state monopoly of the financial system in China. Efficient pricing across the credit spectrum and diversified investment products in each risk segment will aid allot capital over a wider cross section of the economy.The author also predicts that public and private equity will become commonplace, and the derivatives and commodities market will develop to enhance the diversity and efficiency of the Chinese financial system. Chaze, Aaron (2006) reported that in India there is an increasing trend in PE investment in the Finance industry. Subhash, K. B. (2006) has taken deep inside view of the Indian venture business firms both an historical and a comparison with other nations. Although small, India has been growing fast and appears to have significant potential. Even though there were some researchers studied the PE funding in India, still there seems to be some possibility on the clarity between VC and PE. There was no attempt so far by any researchers about the factors influencing on the PE Funding in future. 4. Private Equity around the Globe PE in the UK originated in the late 18th century, when entrepreneurs found wealthy individuals to back their projects on an ad-hoc basis.This informal method of financing became an industry in the late 1970s and early 1980s when a number of PE firms were founded. PE is now a recognized asset class. There are over 170 active UK PE firms, which provide several billion pounds each year to unquoted companies, around eighty percentage of which are located in the UK. The main sources of PE in the UK are the PE firms (who may invest at all stages – VC and buy-outs) and â€Å"Business Angels† (private individuals who provide smaller amounts of finance at an earlier stage than many PE firms are able to invest).The attributes that both PE firms and business angels look for in potential investee companies are often very similar and so this should help entrepreneurs and their advisers looking for PE from both these sources. â€Å"Corporate Venturers† which are industrial or service companies that provide funds and/or a partnering relationship to fledgling companies and may operate in the same industry sector as the business can also provide equity capital.Throughout the 1990s the technology hype, Internet boom and massive capital investment propelled the new economy r evolution, but Internet mania in the late 1990s caused technology stocks to skyrocket until the bubble burst in March 2000. There was over-optimism, too much easy money, proven ways of doing business were replaced by irrational exuberance and private and public company market valuations were driven to unsustainable levels.Post-bubble, PE firms are looking for investment opportunities where the business has proven potential for realistic growth in an expanding market, backed up by a well researched and documented Business Plan and an experienced management team – ideally including individuals who have started and run a successful business before. Excellent opportunities remain open to companies seeking PE with convincing business proposals. PE funding is about 50 years old but it was not until 1970s, when regulatory and tax law changes allowed US Pension Funds to enter the asset class, that PE became accepted as an institutional asset class.During the decade of 90s, there was a tremendous boom in the PE industry, with the emergence of brand name firms managing multi-billion dollar sized funds. Over this period, the pool of US PE funds has grown from $5. 0 Billion in 1980 to over $203 Billion in 2005, outpacing the growth of almost every other financial asset class. The following table shows the comparative picture of PE funds invested and their percentage shares in last three years 2003-2005 across five continents: Table 1 Global Private Equity Funds during 2003-2005 |Total Funds |North America |Central/ South |Middle East |Asia Pacific |Europe | |Year |invested | |America | | | | |2003 |$ 115 bn |52 |1 |2 |15 |30 | |2004 |$ 110 bn |41 |1 |3 |16 |39 | |2005 |$ 280 bn |40 |1 |4 |22 |33 |Source: PWC Global PE Report It may be seen from the above table that the absolute amount of funds invested by PE firms is on the increase. While the percentage share of North America and Europe is on the decline, Asia Pacific’s share is on increase, which includes India and China. An estimated $17. 5 Billion of PE / VC was invested in the Asia Pacific region in 2003 – a whopping 92% increase on 2002. Japan led the region accounting for $7. 3 Billion of the value of deals completed, followed by Korea with $3. 3 Billion and Australia with $2. 8 Billion. In contrast, only $3. 2 Billion of new funds were raised in 2003 (up only 10% on 2002 levels). The pool of PE capital under management rose to $97. 6 Billion in 2003 up from $88. 6 Billion in 2002. Start-up and early stage investment is estimated at $ 0. 6 Billion and $1. 4 Billion was invested in expansion stage companies in 2003. Telecommunication section had the highest percentage of invested capital with $3. 7 Billion or 21% followed by financial services with $2. 3 Billion or 18. 3% (Business World, 2006). The Private Equity market has experienced robust growth over the last 15 years, during which nearly $1. Trillion was committed to PE partnerships. The following figure indicates relevant data between the years 1990 and 2005. The commitment commenced with a modest figure of US $19 Billion in the year 1990 which went up to a peak of US $306 Billion in the year 2000. It came down to US $178 Billion in 2001, US $97 in 2002 and US $94 Billion in 2003 and again moved upwards to US $132 Billion in 2004 and finally to US $204 Billion in 2005 (Thomson Financial Venture Economics, 2006). Now the regulators are weighing in about PE firms.On November 6, 2006, Britain’s Financial Services Authority (FSA) issued the first in-depth review of PE by a top supervisory body. Its preliminary conclusions are that the biggest buy-out firms and their lenders deserve closer surveillance in several areas, but pose no broad risk to the financial system. The European Central Bank has also voiced concern over the growing exposure of banks to debt-hungry buy-out vehicles; but it, too, sees no cause for panic. In America, the world’s largest PE market, the Department of Justice is said to be expanding its investigation of â€Å"club† deals, in which big firms have teamed up to launch large bids. The worry is that they may be anti-competitive. Suddenly PE lawyers are popping up everywhere (Economist, 2006). Figure 1: Private Equity Capital Commitments by Year (in $ Billions) [pic] 5. Investors in Private Equity Funds Investors in PE generally stay invested for long-term horizons. Institutional investors such as foundations, endowments and Pension Funds represent vast majority of investors in PE. Besides, high net-worth individuals also invest in PE funds.The following table indicates PE Capital Commitments during 1995-2005 made by various investors’ types: Table 2: Shares of Various Investors’ Types (in percentage) |Investor Type |% Share | |Banks |8 | |Insurance Companies |7 | |Corporate Non/Pension |13 | |Private Pension Funds |13 | |Public Pension Funds |9 | |Family / Individuals |14 | |Endowment/ Foundations |17 | |Intermediaries |7 | |Others |12 | |Total |100 | Source: Thomson Financial Venture Economics It may be seen from the above table that the funds to PE are subscribed majority by Endowments / Foundations, followed by Family / Individuals and Pension Funds. 6. Regulatory Guidelines Framework for VC in India According to some experts, the share of the US in world GDP is expected to fall (from 21 to 18 per cent) and that of India to rise (from 6 to 11 per cent) by 2025, and hence the latter will emerge as the third pole in the global economy after the US and China. By 2025 the Indian economy is projected to be about 60 per cent the size of the US economy.By 2035, India is likely to be a larger growth driver than the six largest countries in the European Union (EU), though its impact will be a little over half that of the US. India, which is now the fourth largest economy in terms of purchasing power parity, is expected to overtake Japan and become third major economic power within 10 years. High growth rates in Industry and Services sector and the changing world economic environment provided a conducive backdrop to the Indian economy. Another positive feature was that the growth was accompanied by continued maintenance of relative stabi lity of prices. India had over 15 years of economic reforms spanning five governments.These reforms achieved a higher growth path; reduction in poverty; made the external sector more comfortable; restored industrial growth; and with financial stability in the country. As a consequence of all these momentous changes there is a new respect for India in the world and, even more important, Indians in all walks of life have found a new level of self confidence. The main organizing principle of most reforms carried out so far has been that of freeing the private sector from the myriad government controls that had existed for a long time. The economic reforms process has brought forth a burst of new entrepreneurial energies across the board in almost all sectors. As a consequence, the country is now recording substantial economic growth in excess of eight per cent.The above changed scenario of Indian economy is attracting more and more investment from within the country as well as from external sources. The Foreign Exchange Reserves are swelling; FDI and FII investments are on increasing trend and now the Private Equity is flowing in rapidly into various sectors. A study was undertaken by the World Bank to examine the possibility of developing VC in the private sector, based on which the Government of India took a policy initiative and announced guidelines for Venture Capital Funds (VCFs) in India in 1988. However, these guidelines restricted setting up of VCFs by the Banks or Financial Institutions only.Thereafter, the Government of India issued guidelines in September 1995 for overseas investment in Venture Capital in India. For tax-exemption purposes, guidelines were also issued by the Central Board of Direct Taxes (CBDT) and the investments and flow of foreign currency into and out of India have been governed by the Reserve Bank of India’s (RBI) requirements. Further, as a part of its mandate to regulate and to develop the Indian capital markets, the Securities and Excha nge Board of India framed the SEBI (Venture Capital Funds) Regulations, 1996. Given the proper environment and policy support, there is undoubtedly tremendous potential for VC activity in India. For boosting high-tech sectors and supporting first generation entrepreneurs, there is an acute need for higher investment in VC activities† announced by the Finance Minister, in his 1999 Budget speech. The SEBI committee on VC was set up in July, 1999 to identify the impediments and suggest suitable measures to facilitate the growth of VC activity in India. Also keeping in view the need for a global perspective, it was decided to associate Indian entrepreneurs from Silicon Valley in the committee headed by K B Chandrasekhar. These guidelines were further amended in April 2000 with the objective of fuelling the growth of VC activities in India. Pursuant to the regulatory framework mentioned above, some domestic VCFs were registered with SEBI. Some overseas investment has also come through the Mauritius route.However, the VC industry, understood globally as â€Å"independently managed, dedicated pools of capital that focus on equity or equity-linked investments in privately he ld, high-growth companies†, was relatively in a nascent stage in India. Till 1998, around Rs. 30 billion had been committed by domestic VCFs and offshore funds which are members of IVCA. Private sources indicate that overall funds committed are around US$ 1. 3 billion. Investible funds are less than 50% of the committed funds and actual investments are lower still (Indian Venture Capital Association). The Advisory Committee on Venture Capital, set up under Chairmanship of Dr. Ashok Lahiri, submitted its report to SEBI in the year 2003. The Committee consisted of 14 members representing Government of India (Ministry of Finance, Central Board of Direct Taxes), Reserve Bank of India, Ernst Young, Indian Venture Capital Association, IIM-Lucknow, SIDBI Venture Capital Ltd. , UTI Venture Funds, ICICI Venture Fund Management Ltd. , ILFS Investment Managers, Kotak Mahindra Venture Capital, a Private Chartered Accountant and SEBI Representative. It helped SEBI in considering the amendments to the regulations that facilitated the further development of vibrant venture capital industry in India. The report broadly dealt with aspects like Operational issues, issues common to VCF and FVCI, issues relating to VCFs, issues relating to FVCIs; Tax related issues; and Foreign Exchange control related issues.It also covered (a) Regulation of VC Industry in India (b) Size of Venture Capital Industry in India (c) Need to regulate Venture Capital Industry (d) International Scenario (e) Definition of Venture Capital in India, China, Mal aysia, Taiwan, UK, etc. 7. Phased Development and Sectoral Investment of VC / PE in India Having regard to the chronological developments in VC industry in India, we may divide the same into four Phases from the beginning till now. These are: Phase I – Formation of TDICI in the 80’s and regional funds as Gujarat Venture Fund Limited Andhra Pradesh Industrial Development Corporation in the early 90s Phase II – Entry of Foreign Venture Capital funds between 1995 and1999 Phase III – Emergence of successful India-centric VC firms (2000 onwards) Phase IV – Increasing appetite of investing in India by US VCs / PE Companies (around 2003).In India, PE funding has been growing in the last few years rapidly. It was US $865 Mn in 2003 which has gone up to US$ 1. 3 Billion in 2004, US $2. 3 Billion in 2005 and US $6. 0 Billion in 2006. Between 2003 and 2005, PE and VC firms invested US $505 Billion globally. Of this, VC firms accounted for around $100 Billion. The three-year period represents a critical phase for both classes of investors. Specifically, year 2003 marks the year when global PE markets started emerging from the ravages of the Internet era (dot com bust) and the subsequent US economic slowdown. By early 2004, fund raising in the US, which accounts for more than 60 per cent of the world’s PE market, had begun to stabilize.The ripple effects were soon felt in other parts of the world, including emerging markets like China and India (Survey conducted by Business World magazine in August 2006). The total number and value of PE / VC investments have come down between the years 2000 to 2003 where as they are in upward trend during the years 2004-06. The following figure depicts the year-wise position at a glance: [pic] It may seen from the above, that while there was a steady upward trend between years 2003-05, the estimated growth during the eight-month period of 2006 is very steep. The year-end performance is expected to be at 311 deals of the value of US $6300 Million.The major PE/VC players like Warburg Pincus, Actis, IDFC PE, Carlyle and Sequoia entered intoin all 22 PE and VC deals worth $472. 46 million during the month of July 2006. The following is a table showing top 15 Private Equity and Venture Capital deals. Private Equity investments between Jan-Oct 2006 have been valued at $5. 93 Billion comprising 230 transactions. This is a 250% increase on an annualized basis over the $2. 03 Billion invested in 2005. IT ITES has garnered the maximum investment during year-to-date 2006 followed by real estate infrastructure, banking financial services and telecom. The value of PE investments in 2005 saw an 85% growth over the $1. 1 Billion investment in 2004. Table 3 Top 15 VC/PE deals in India during July 2006 Investor |Investee |Deal Size ($ mn) |Stake (%) | |Warburg Pincus |Aryan Coal |66. 00 |NA | |Morgan Stanley |Alpha G Corp |66. 00 |NA | |Blackstone Group |Emcure Pharma |50. 00 |NA | |Warburg Pincus |Lemon Tree Hotels |46. 66 |NA | |Credit Suisse |Binani Cements |33. 25 |10. 90 | |Actis |Phoenix Lamps |28. 90 |36. 0 | |Goldman Sachs |NCDEX |23. 00 |7. 00 | |Sequoia Capital |Amalgamated Coffee |20. 00 |NA | |Carlyle Group |Allsec Technologies |17. 40 |NA | |IDFC Private Equity |Unitech Group |16. 60 |NA | |Warburg Pincus |Red Fox Hotels |15. 55 |NA | |Actis |Add Life Medical |15. 50 |41. 00 | |ChrysCapital |Titagarh Wagons |15. 00 |10. 0 | |IDFC Private Equity |Healthcare Global |10. 80 |NA | |Peqot Ventures |IMI Mobile |10. 00 |NA | Source: Business World, August 14, 2006 VCs and PE funds have been investing in the later years of 1990s and presently in the following sectors: (Amount in $ Millions) |Sector |CY 2005 |CY 2006 |H1 2007 | |Automotive |194 |450. 8 |88. | |Aviation |51 |93. 1 |20. 1 | |Banking Financial Services |185 |657. 3 |2151. 5 | |Cement |88 |115. 8 |– | |Energy Power |128 |113. 1 |66. 1 | |Food Beverages |114 |154. 1 |8. 0 | |Hotels |61 |125. 2 |187. | |Infrastructure related |– |171 |– | |IT ITES |244 |1608. 6 |498. 4 | |Manufacturing |67 |217. 8 |97. 6 | |Media Entertainment |142 |166. 3 |715. 9 | |Pharma, Health Care and Bio Tech |374 |467. 9 |220. 6 | |Real Estate related |– |1117. 1 |2190. | |Retail |– |161. 2 |68. 8 | |Telcom |15 |1393. 4 |170. 0 | |Textiles Apparel |107 |212. 9 |125. 7 | |Others |233 |633. 9 |209. 1 | |TOTAL |2033 |7859. 4 |6818. 2 | Source: Grant-ThorntonFrom the above table, it may be seen that PE investment in Banking and Financial Services sector, Media Entertainment, Real Estate Related sectors and Hotel Industry are growing rapidly; while Automotive and Aviation sectors have received lesser amounts in the two years 2005 and 2006 as also the Half year 2007. 8. Issues and Challenges Despite these attractions, there are several constraints on Private Equity firms operating in India. Ironically, although rising valuations have helped existing PE investors to earn high returns, they are now making it difficult to find new investments. This is because many Indian firms that are chased by PE funds are demanding a high valuation at the outset, making them less attractive to the funds. Another constraint is the strong attachment of many Indian entrepreneurs to their ventures, which makes them reluctant to sell their stakes and accept minority ownership – even when it is clear that the ventures would be managed better by new owners. For this, the incidence of private equity buy-outs has been much smaller in India than in any other developed countries. The relatively slow pace of reforms in India’s state sector is also a limiting factor. In many emerging markets, the privatization of state owned firms has offered rich opportunities for private equity investors. In India, however, progress with privatization has been halting, providing far few opportunities for PE funds in this area. 9. Future of Private Equity Funding in India The real GDP growth in the country is calculated in the range of 7. 5-8. per cent during the year 2006-07. Presently the Indian Economy is coming across various risks both in the domestic scenario as well as in the international scenario. The global economy suffers from the problem of record level of international crude oil prices, overall inflationary pressures and rising international interest rates. In the same direction, the Indian economy also suffers from the problem of monsoon, infrastructure bottlenecks, and fiscal imbalances. Though there are a larger number of on-going imbalances continuing over the world, still to what extent different sectors in the Indian economy have responded in the period of 2006-07.The main reasons for the increasing trend of VC and PE investment in India can be attributed to the following reasons:- †¢ Knowledge-based industries growing fast and mostly global; less affected by domestic issues †¢ World class engineers, professionals, entrepreneurs – their success is evident in the US as well †¢ 2nd largest English speaking population; †¢ India has advanced rapidly in the 90’s, catching up with global markets in many sectors †¢ 25% of small IT companies in the US have Indian founders †¢ Large presence of Indians in the US Software Sector †¢ The equity investor today has a very wide choice of investment vehicles with a menu of alternatives. 10. ConclusionsThere has been a significant change in global and Indian economy in particular that investment climate has been conducive and attracting huge foreign and domestic funds in the shape of PE. There appears to be a thin line of demarcation between PE and VC funds. All the guidelines and regulations from Government of India (Foreign Investment Promotion Board, Central Board of Direct Taxes, Department of Industrial Promotion and Policy, etc), Reserve Bank of India or Securities Exchange Board of India generally define and refer to VC funds (both domestic and foreign) with regard to investment, mergers and acquisitions, taxation, repatriation of funds in foreign exchange, etc.With the fast developments that are taking place, PE funds seem to be taking benefit of those guidelines and operating in large scale investments. The increasing trends of PE investments in different growing sectors in India are welcome. However, this should not lead to mushrooming of such funds result ing in reckless lending merely because of the favorable economic conditions. Already in countries like UK, Australia and Gulf, the government authorities have realized the need for surveillance and taken measures to watch the PE industry closely. Keeping in view the past experiences with South East Asian financial crisis of 1997-98 and subsequent dotcom bust in 2000, the Policy makers and Regulators in India may have to supervise the current boom in the PE funding.Also, due to the general elections in the next year in India, in case if there is a possibility that the change in the Government, this may leads to some changes in the policy decisions made by the existing government. Also, as per the prediction of the RAW chief and also by the Financial Minister, there is possibility for some Economy Blast as some terrorists investing in India directly or indirectly. The only solution that the authors suggest is that the PE Funding should be controlled by introducing some regularities just similar to VC. 11. Scope for Further Research The authors are of the view that there is a scope for in-depth studies to be conducted not only on the PE industry, but also the utilization of these funds invested in various sectors and their growth.As just now the PE Funds are entering into India for the last few years, the authors felt that there is a scope for further Research on PE Funding in terms of sectorial study and the comparative study of Companies doing business with and without PE Funding. How to cite Private Equity Funding in India – Issues and Challenges, Papers

Organisational Dynamism Has Reached Its Highest Free Samples

Question: What are the implications for employees? What are the HRM implications how might HR have to operate differently? What are implications for the leaders and Managers? Answer: Introduction Organisational dynamism has reached its highest path with complexity in its every realm. Functional departments in a corporate setting always look for specialised knowledge and application for utmost growth possibility and methods for achieving it. Query crop in as to the viability of a departmental efficacy in goal accomplishment from organisational viewpoint and HR departments always score well in this respect. Strategic orientation and human resources contribution together create development of better organisational framework. With organisational complexities imbibed in the functional path of the HRM, a synergy among modern and most vital existing practices in HRM secure highest level of performance standards and application (Avey, Luthans and Jensen, 2009). Approaches of HRM towards employees and mission and vision of corporate have been always a overvalued criterion that measures how dynamic the firms are in line of challenging environment and competition in business. But this i s worth it as the present business world is set to embrace challenges and to reach its goal by circumventing the odds in its way. Thus truly HR has emerged and need of incorporating dynamic aspects keep this demanding profession at the forefront of an organisation (Boxall and Purcell, 2011). As human resources cannot be underestimated in sense of their importance to organisational success, similarly HRM is also vital to drive human resources to perform in line of organisational vision and mission. Modern business needs more contemporary outlooks in business. HR practices prepare much valued human resources in consonance with performance requirement that adds to the change of HR approaches and employee management in more realistic and better way for ensuring higher possibility of success in competitive business world. This paper has focused on human resource management which has opportunities as well as challenges in its evolution from being a perfect set of well defined practices. But in organisational working scope challenges and opportunities are always eternal and modern HRM can never be on denial about this. Therefore employees empowerment has become a priority which promotes employee participation and performance enhancement at a single go. Role of leadership has also emerged vital which set precedence before employees so that they are driven by example. If business comes across any challenges, the team effort and employee engagement comes at the rescue by their performance and HRM becomes more justified. The crux point of discussion of this paper is some challenges that are anticipated to arise in workplaces and how these can be mitigated in support of means like preparation of concepts regarding skills improvement, employee motivation and operational changes and leadership development (Che n and Huang, 2009). The selected topic in this discussion is employees will elect their leaders adds a most contemporary sense in HRM approach and organisational work patterns. 1.It has become understandable that HR practices in coming days await more changes which lay focus on effective leadership approach undertaking employee empowerment as vital metric of determining organisational success and HR significance. Varied types of working can yield better results if diversity management is taken into thought (Chen and Huang, 2009). As diversified performance gets developed in presence of culture of diversity management, organisations are on the verge of implementing diversity and leadership together to support HR practices more. If any changes are underway in organisations then employees are the first who face the maximum implication. This requires strategy development by firms to cause them feel safe and secured and leadership plays vital function in his aspect. Not only employees who the implications are heavy on due to working change and change in skills in jobs but also the managers and leaders feel the same way. They need more preparedness to tackle situ ation by balancing work and dynamism as well as manpower in the organisations (Chen and Huang, 2009). This paper has discussed that HR needs to undertake different approaches to handle the situation and also cooperation from management is sought. Leaders feel the situation tougher to restore amicable working environment by considering important employees in team. People are driven by example and this has become a catchphrase in every business and scope of working engaging employees (Wright and McMahan, 2011). Employee who adapts to changing atmosphere in working arena become successful leader in future and leaders who manage employees better become forerunner of successful corporate chief. This is discussed in this paper to share more relevant knowledge. Since change is unavoidable as being required in complex business scenario, therefore HR management takes into thought the necessity of better planning and implementation of strategies thought of management. Leadership cannot be autocratic but participatory and collaborative nature of mentoring and leading people are easily accepted by many employees. Another dimension to the leadership from the view of HRM is employees, engagement. The new approach to this is a perfect blending of employee empowerment and employee engagement for the benefit of the organisations. This is vital layer of contemporary thought and always upholds the concept of employees viewpoint in choice of leadership and leaders among many eligible contenders of leadership position. The main spotlight of this paper is to discuss regarding employee perceptions and shift in HR paradigms which together make for choice availability for employees when it comes to selection of leaders in their organisation. Leadership must encourage employee participation and their empowerment as elements of team work and collaborative working culture. With growth and complexity both comes in way of business, need of balanced view concerning leadership and employee perspective stay relevant to the business objectives (Gagn, 2009). This paper has discussed the most vital facet of employee empowerment which materialises successfully with their opportunity and rights to elect their leaders with the required skills. This possibly is the most modern-day approach available within HRM and employees performance elevating aspect for fulfilling organisational objectives. Employees are more conscious about the traits they look for in their leaders (Guest, 2011). Delegation of the right to elect their leaders produce better result for organisations as growth of organisations and motivations among employees stay within the reach of the management. This paper has discussed on this vital aspect while also focusing on implications of modern HR practices on employees and leaders. 2.If employees elect their leaders the approach to business operations will definitely change. It is normally stated that employees do not leave companies but they ditch managers and hence it is important for the Human resource management of an organisation to strategise the approach to operations especially human resource. It is a common belief that HRM operation acts as the mainstay for an organisation to grow and develop effectively. If the employees are allowed to elect their leaders it might apparently seem the pressure on the HRM is reduced, but their work is definitely increased if employees start electing their leaders (Greenberg and Edwards, 2009). It could be said that so far the HR managers focused on handling the recruitment and selection of employees but now it will have to start practically focusing on improving the overall organisational relationship. The HR department will have to understand that the key stakeholders it has to focus on are employer and employee. If te ams start electing their leaders the HRM will have to be focused on making sure that the employees are doing the right thing (Gill, 2011). The employee should be influenced by the HRM which would help to make sure the employees take the right decisions. If employees elect their leaders the HRM will be released of internal recruitment issues. The HRM will not be concerned with the operations and it can only recruits for operations and nothing else but with the increasing power of the employees the HRM will have higher stake in the business. It will be largely responsible for helping the employees choose the right leader for them. With the aspect of election coming into the picture the operations of the business organisations will largely become democratic in nature and hence the roles and responsibilities of the HRM will not remain confined in recruitment and selection (Charan, 2009). It is clear that with the increase in power of the employees workplace politics will definitely increase and hence this is where HR management will come into play. The HR management of the organisation will now try to curb down the workplace politics and make sure the elections taking place are not prejudiced in nature. From one point of view it could b e said that if people elect their leaders the employees will be satisfied with the workplace environment and hence is likely to contribute to the overall growth and development of the organisation (Davies and Chun, 2009). The HRM will now have the role of organising the elections and will likely to play the role of the presiding officer in the elections making the employees understand the importance of elections and how it could be effectively handled. It could be said that HR departments so far worked on behalf of the company but represent employees but now the HR departments will have to work on behalf of the employees and will continue to operate for the employees so that the work environment of the organisation is content in nature (Wallace, de Chernatony and Buil, 2013). The HR can now work with unambiguous motive of managing people in the organisations and could focus on keeping communal harmony. The HR will now assist the employees to work through the elections and elect the best possible leaders for the organisation. Hence, it could be said that the HR department will contribute to the development of the corporate feudalism into democracy. The HR will still play the role of injecting manpower in the organisation but now they will have to take more responsibilities in administrative as well as the practical work of understanding the employees and their previous work careers (Bennis, Bennis and Goldsmith, 2010). With employees electing their leaders HR departments will play an important role in the improvement of productivity in the organisation through effective training and development programs and will also help the employees to understand how to manoeuvre workplace politics to help them make the best possible decisions while electing their leade rs. If the teams cant perform often the HR department is blamed with the change in the rules and regulation if the employees elect their own leaders the HR would be able to work freely with effective vision to develop strong HR goals for the company which would contribute to the overall success of the organisation (Meister and Willyerd, 2010). With the employees starting to elect their employees it could be said that the HR department will be responsible to develop a strong and intensive training and development approach as now if the leaders fail along with them the HR will also be blamed. The HR will be more extensively involved in the training and development approach and will definitely help organisations to gain their productivity and also compete in this highly competitive market environment. It is important for the HR department to make the leaders accountable for the people they lead and for that application of the different models of employee assessment will come into play like 360 Degree Feedback, open feedback sessions and counselling will be important (Fossum, 2014). The HR will have to become more active and will have to develop strategies which would combat the imminent issues in the operations which becomes extremely important in this case. Hence overall to conclude it could be said that the HR department wi ll have a revised work of representing the employees and also helping them out with the election issues and provide them with effective insights regarding the elections of the leaders by the employees. 3.If the leaders and the managers are elected by the employees there will be strong stake of the employees to speak against the leaders and the managers in case the relations between them is not good (Martin and Schmidt, 2010). With this aspect coming into play the organisations rather to say the managers and the leaders will have to be extremely upfront about their roles and responsibilities in the organisation. The leaders and the managers cannot have laid back attitude at work since they bear the huge burden of expectation of the employees which will make them much more concerned about operating effectively for the personal and professional improvement of the employees through work (DeNisi and Smith, 2014). It could be said that the managers cannot be autocratic in nature as they are elected by the employees and hence they have to understand the grievances and issues of the employees or else they will be moved from their positions and may be the organisation loses interest on the manager which could mean losing of job for that employees. The leaders should not only think about the organisational goals and objectives but they should focus on understanding needs and wants of the employees more than ever due to the democratic environment of the organisation (Armstrong and Taylor, 2014). With the employees getting increased power to choose their leaders, the managers and leaders should be focused on understanding the workplace politics and try to reduce it as much as possible to make sure communal harmony is intact in the company and the business is moving towards achieving the long term goals and objectives. In a democratic scenario it will become important for the leaders and managers to involve the employees in almost every decision taken for the improvement of the organisational operations which would mean that the employees will be able to invest significant insights to organisational operation slowly becoming active in the organisational decision making (O 'Reilly et al, 2010). Conclusion From the above discussion, the pertinent issues that comes to the fore states that although the election of the leader by the employees is perhaps the most contemporary and ambitious of the organisational choices, since when on one hand it can prove fruitful for the management of human resource within the organisation in an effective manner in the presence of a camaraderie amongst the workforce and its leader, resulting in increased productivity and growth of the enterprise, on the other hand, wrong selection of a leader can lead to perpetration of malicious conduct, unhealthy work atmosphere and ruinous downfall for the organisation. The management thus needs to formulate policies and adopt practices through which the election of the leader by the employees of the organisation is done in strict adherence to the culture and goal of the organisation and also in consideration of the realisation of the objectives of the stakeholders of the enterprise (Meister, Willyerd and Foss, 2010). It must be kept in mind that although the power of selection can be bestowed on the employees to choose their leader, the power to control, monitor and evaluate must remain at the hands of the management so that alterations and modifications in the interest of the organisational goals can be implemented whenever such circumstances arise References Avey, J.B., Luthans, F. and Jensen, S.M., 2009. Psychological capital: A positive resource for combating employee stress and turnover. Human resource management, 48(5), pp.677-693. Boxall, P. and Purcell, J., 2011. Strategy and human resource management. Palgrave Macmillan. Chen, C.J. and Huang, J.W., 2009. Strategic human resource practices and innovation performanceThe mediating role of knowledge management capacity. Journal of business research, 62(1), pp.104-114. Gagn, M., 2009. A model of knowledge?sharing motivation. Human Resource Management, 48(4), pp.571-589. Guest, D.E., 2011. Human resource management and performance: still searching for some answers. Human resource management journal, 21(1), pp.3-13. Meredith Belbin, R., 2011. Management teams: Why they succeed or fail. Human Resource Management International Digest, 19(3). Wright, P.M. and McMahan, G.C., 2011. Exploring human capital: putting humanback into strategic human resource management. Human resource management journal, 21(2), pp.93-104. Armstrong, M. and Taylor, S., 2014. Armstrong's handbook of human resource management practice. Kogan Page Publishers. DeNisi, A. and Smith, C.E., 2014. Performance appraisal, performance management, and firm-level performance: a review, a proposed model, and new directions for future research. Academy of Management Annals, 8(1), pp.127-179. Meister, J.C., Willyerd, K. and Foss, E., 2010. The 2020 workplace: How innovative companies attract, develop, and keep tomorrow's employees today (p. 5). New York, NY: Harper Business. Fossum, J.A., 2014. Labor relations. Mcgraw Hill Higher Educat. Meister, J.C. and Willyerd, K., 2010. The 2020 workplace. Harper Audio. Bennis, W., Bennis, W.G. and Goldsmith, J., 2010. Learning to lead: A workbook on becoming a leader. Basic Books. Wallace, E., de Chernatony, L. and Buil, I., 2013. Building bank brands: How leadership behavior influences employee commitment. Journal of Business Research, 66(2), pp.165-171. Charan, R., 2009. Leadership in the era of economic uncertainty. The New Rules for Getting the Right. Gill, R., 2011. Theory and practice of leadership. Sage. Greenberg, J. and Edwards, M.S., 2009. Voice and silence in organizations. Emerald Group Publishing. O'Reilly, C.A., Caldwell, D.F., Chatman, J.A., Lapiz, M. and Self, W., 2010. How leadership matters: The effects of leaders' alignment on strategy implementation. The Leadership Quarterly, 21(1), pp.104-113. Davies, G. and Chun, R., 2009. The leaders role in managing reputation. Reputation Capital, pp.311-323. Martin, J. and Schmidt, C., 2010. How to keep your top talent. Harvard business review, 88(5), pp.54-61.

Health Promotion in Public Health for Reflexivity-myassignmenthelp

Question: Discuss about theHealth Promotion in Public Health for Reflexivity. Answer: Reflexivity is referred to the premeditated intellectual activity that enables individuals to examine or explore a certain situation or an issue based on the past experiences and aids the professional to develop a better understanding of the actions needed in similar situations. Reflexivity has been gaining enhanced attention about professional development in the field of health promotion. It appears to have a crucial role in bringing major improvements in the education of the healthcare professionals and their practice since the individuals can integrate theory and practice. Their clinical experiences are therefore transformed into novice learning, and they gain new skills by strengthening their knowledge base (Alley et al. 2015). According to Tremblay et al. (2014), formative reflexivity refers to the examination of the experience of the healthcare professional along with his skills with the aim of making sense of the situations for identification of the appropriate knowledge aligned with the practice. The purpose of this reflexivity is to bring improvements in the practice that often unchallenged. Critical reflexivity refers to the action of questioning power, moral issues and assumptions that underlay practice about humane society. The purpose of this reflexivity is to raise the critical conscience and awareness level of the professional from the perspective of the social system. An area of interest within the heath promotion domain is smoking cessation. An example of formative reflexivity would be the reflection of professional on care delivery provided to individual patients for whom the aim is smoking cessation. An example of critical reflexivity would be an analysis of why patients fail to demonstrate adequate smoking cessation and how the broader community contribute towards this situation. Both formative and critical reflexivity are important in smoking cessation as community-based health promotion can only be achieved with the transformations in professional practice (Bisset et al. 2015). References Alley, S., Jackson, S.F. and Shakya, Y.B., 2015. Reflexivity: A methodological tool in the knowledge translation process?.Health promotion practice,16(3), pp.426-431. Bisset, S., Tremblay, M.C., Wright, M.T., Poland, B. and Frohlich, K.L., 2015. Can reflexivity be learned? An experience with tobacco control practitioners in Canada.Health promotion international,32(1), pp.167-176. Tremblay, M.C., Richard, L., Brousselle, A. and Beaudet, N., 2013. Learning reflexively from a health promotion professional development program in Canada.Health promotion international,29(3), pp.538-548.