Pip in Charles Dickens Great Expectations - 3985 Words

Pip in Charles Dickens Great Expectations After reading the compelling ‘Great Expectations’ by the famous writer Charles Dickens, I can gather that it is based upon his own psychological insight to life. He makes connections in relation to a specific character or event in the storyline, which were critical in his own expectations. Also Dickens moulds his selection of characters very well into the desired settings he’d created, that matched what he knew only too well throughout his childhood. ‘Great Expectations’ not only satires the issues of Victorian society, yet centres on the rites of passage that marks an important change in a person’s life. Dickens’ issue of contentment is something that concerns many human beings;†¦show more content†¦Dickens builds Joe up well as a character in the way that he had well defined qualities: ‘mild, good-natured, sweet-tempered, easy-going, foolish...’ Pip looks upon Joe as the person who can provide him guidance and one who Pip could seek refuge from his violent sister. Pip becomes dependant on Joe, as he is the only one there for him who is prepared to listen to his problems. Moreover, Joe is a positive influence on Pip, always looking out for him and at the same time offering him security. Despite Joe’s good points, he is not seen a strong enough or suitable role model for Pip, yet this solid friendship leaves Pip clear on how he thinks of his sister compared to Joe: ‘I do not recall that I felt any tenderness of conscience in reference to Mrs Joe, when the fear of being found out was lifted off me. But I loved Joe-perhaps for no better reason in those early days than because the dear fellow let me love him-and, as to him, my inner self was not so easily composed.’ (page38) When Pip is invited to play at the materialistic Satis House, all these good values he has been brought up on are entirely thrown out of the window. Satis House, home of the jilted Miss Havisham and her adopted daughter Estella (Latin for stars), is designed to have a great affect on Pip and in turn, the reader. Its desolateness makes Pip feelShow MoreRelatedPip in Charles Dickens Great Expectations Essay1473 Words   |  6 PagesPip in Charles Dickens Great Expectations Great Expectations, written by Charles Dickens and set in mid-late Victorian era; is about a boy named Philip Pirrip, better known as Pip and his great expectations. As a child he lived with his sister and brother in-law Joe. Luck brings him to the aid of a convict, and to the house of a wealthy society lady. After many encounters with her in Satis house, he seeks a life as a gentleman. A Victorian society gentleman is a man of high socialRead MoreEssay Sympathy for Pip in Great Expectations by Charles Dickens997 Words   |  4 PagesSympathy for Pip in Great Expectations by Charles Dickens For the past half term, in English, we have been spending our lessons on a novel by Charles Dickens called Great Expectations We have been concentrating on the opening Chapters as well as to understand the novel. Great Expectations is based on a boy called Pip. Pip is an orphan who lives with his cruel sister and husband Joe Smith whos a blacksmith. He is poor and lonely as his siblings unfortunately died. Read More Sympathy for Pip in Great Expectations by Charles Dickens Essay2049 Words   |  9 PagesSympathy for Pip in Great Expectations by Charles Dickens problems with format    Great Expectations is a novel in which each character is a subject of either sympathy or scorn.   Charles Dickens implies through his use of guilt and suffering that Pip is a subject of sympathy.   Frazier Russell wrote that in Great Expectations the protagonist (through his suffering and disappointment), learns to accept his station in life.(   Also through Pips suffering comes the sympathy the reader feelsRead MoreCharacter Analysis in Pip in Charles Dickens ´ Great Expectations1542 Words   |  7 PagesGraduate, or the next new celebrity. But, these expectations can begin to define a person if he believes he has to conform to societys expectations. In Charles Dickens novel Great Expectations, young Pip feels the pressure from society and his love, Estella, to become a gentleman. By attempting to rise in his social class Pip then abandons his previous good morals and his family members when he moves to London. Each character has aspirations for Pip which he believes he must fulfill in order toRead MoreThe Relationship Between Pip and Abel Magwitch in Charles Dickens Great Expectations1125 Words   |  5 PagesThe Relationship Between Pip and Abel Magwitch in Charles Dickens Great Expectations In this essay, I am to observe the changes in the relationship between Pip and the convict Abel MagwitchRead MorePip in Charles Dickens Great Expectations and Jem and Scout in Harper Lees To Kill a Mockingbird1381 Words   |  6 PagesBoth Pip in Charles Dickens Great Expectations and Jem and Scout in Harper Lees To Kill a Mockingbird have deep fears in early childhood. How do the authors create these fears and vulnerabilities? Charles Dickens Great Expectations and Harper Lees To Kill a Mockingbird are two very different books. Great Expectations tells the story of a young boy growing up in Kent at the beginning of the 19th century, and To Kill a Mocking Bird centres around two children growing up in AmericaRead MoreGreat Expectations: Prose Study Coursework How Did Charles Dickens Create Sympathy for Pip in the Opening Chapter of Great Expectation?1161 Words   |  5 PagesGreat expectations: Prose study coursework How did Charles Dickens create sympathy for Pip in the opening chapter of great expectation? In this essay I’m going to be writing about a Charles Dickens book called ‘Great Expectations’ and how he successfully makes the reader feel sorry for the main character in the book named Pip; a young orphan, alone in a graveyard and how bad his life is or how bad its going to get. Dickens makes the reader feel sorry for Pip because we find out that, apart fromRead MoreGreat Expectations and a Christmas Carol: a True Gentleman Essay1430 Words   |  6 PagesGreat Expectations and A Christmas Carol: A True Gentleman According to Dictionary.com, a gentleman is a civilized, educated, sensitive, or well-mannered man. However, by Victorian definition, a gentleman was, perhaps most importantly, a rich man. â€Å"Charles Dickens†¦was an author of relatively humble origins who desired passionately to be recognized as a gentleman, and insisted, in consequence, upon the essential dignity of his occupation† (Victorian Web). In Great Expectations he portrays Pip, aRead More Attitudes toward Victorian Society in Great Expectations by Charles Dickens1156 Words   |  5 PagesGreat Expectations Explore some of the ways in which Dickens’ attitudes to Victorian society are presented in the opening chapter of Great Expectations. For this essay I will be focusing on the opening chapters of Great Expectations, a novel written by Charles Dickens. I am going to consider the Victorian society at the time and dickens’ use of language to express themes, settings and characters. Charles Dickens wrote this story in the Victorian times. Hence we seem to think what ‘does heRead MoreCharles Dickens Great Expectations943 Words   |  4 Pagesmuch as in Great Expectations. In many ways the narrator/protagonist Pip is Charles Dickens in body and mind. While there are many differences between the story and Charles Dickens life there remains one constant. This constant is the way Pip as the narrator feels, because these feelings are Dickens s own feelings about the life he lead. Since Great Expectations was written towards end of Charles Dickens life, he was wiser and able to make out the mistakes and regrets of his life, and Pip experiences

Analysis Of Dirk Van Der Elst s Book Culture - 1213 Words

Dirk van der Elst’s book Culture as Given, Culture as Choice greatly compares the difference between human animals and wild animals. I found it interesting that the author focused on the difference between sex and childbirth in humans and animals. Elst thinks that teenagers are programed to believe that they need improvements, he also believes that women are handicapped by having children, and that teenage mothers raise children to break the law. I think that Dirk means well, but feel the book does not have enough facts to prove his points. Most of his accusations are very sexist towards women, however, I do admire his honest opinions. In chapter 5 Working the Reproductive Drives Dirk writes, â€Å"American teenage girls- a category of human beings that probably least needs to gild the lily- have been culturally programmed (by advertisers) to believe they are inadequate â€Å"as is.†Ã¢â‚¬  When I read this I was unsure what â€Å"gild the lily† meant and when I looked it up I found that it means to try and improve what is already beautiful. I think this is the only truly positive thing that Dirk says towards women in the whole book. However I do agree with the fact that from a young age girls are made to feel that they are not good enough. Girls do get this perspective from magazines and other advertisements where women are made to look sexy. The Author says that humans are the only animals where it is the female’s job to dress or present themselves to get the opposite genders attention. In

Interactive Marketing TOWS Analysis

Question: Discuss about the Interactive Marketing for TOWS Analysis. Answer: Introduction This study has aimed to understand the concept of interactive marketing. In this respect, this study has tried to develop a TOWS analysis of innovative digital service of Too Good To Go. Too Good To Go is the popular online food delivery site. This study has tried to take innovations in the market of Singapore. As a result, it can be assumed that the opportunities, which can be experienced by the consumers in the future by using this digital service has been mentioned in this study. In addition, the three cycle marketspace matrix is helpful to identify the pricing strategy and marketing strategy in order to introduce innovative service of Too Good to Go in Singapore. TOWS Analysis In this section, it can be mentioned that the Too Good To Go service providers can initiate the service not to waste foods, which could not be eaten completely by the consumers. In this context, they tried to aware the customers and the restaurant managers that the surplus foods could be collected for the breakfast, lunch or for dinner service. Therefore, the following TOWS analysis is helpful to identify the key performance indicators of the innovative digital service of Too Good To Go. Opportunities Threats Strengths It can be identified that Too good to go helps to the users to order foods through online and the additional foods they tried to collect for further use. According to Im, Montoya Workman (2013), it can be mentioned that there is no shipping cost. As per the statement of Evanschitzky et al ., (2012), although Too good to go service enhances the concept of online ordered food. Although some of the customers do not have faith regarding this innovative service and the business may fail. Weakness In this section, it can be mentioned that the opportunities of the Too Good to Go digital service can minimise the weakness. As it can be stated that the too good to go can reduce the cost of delivery of the foods. The consumers can ordered their foods from the favourite restaurants through Too Good To Go site. In the words of Lin Tan Geng (2013), it can suggest that in order to reduce the cost of service of Too Good To Go, the government of Singapore allows the consumers to place order without charging the internet cost. From the above table it can be observed that in case of strength and opportunities, the consumers able to avail the service of Too Good To Go in terms of lower rate. In addition, the service takers can easily place the order. In addition, the innovation can effectively reflect the service takers and they can make online shopping at the same time. This will effectively enhance the innovative service of the Too Good To Go and the consumers are willing to avail this updated service. On the other hand, in case of strength and threats section, it can be seen that the users require to have internet connection. In addition, the readers also need to have electronic gadgets or laptop or mobile phone. Furthermore, the government needs to focus to minimise the cost of internet. Cycle Marketspace Matrix In this context, it can be stated that in case of launching of new product such as innovative service of mail online in the market of Singapore, the 3 cycle marketspace matrix is helpful to create the blue ocean opportunity of the innovative service. Relationship stages Categories of levers KPIs Awareness Exploration Commitment Dissolution Product (ebook service) Consumers are willing to take the innovative service of digital service of Too Good To Go, which will be going to launch in the Singapore market. Based on the service innovation, it can be predicted that the innovative product will be successfully explored in the market. As per the statement of Miller (2012), the organisers of Too Good To Go service tried to keep their commitment in order to acquire the greater market share. In this context, it can be mentioned that as the new and innovative service of Too Good To Go will offer to the users some additional extra features. Price It can be predicted that with the launching of new innovative service, the price of the new service will be higher compared to the previous service. Although, the price of the service will be higher, the users will like to take the service in order be updated with the technology. As per the commitment, the price of the new technology will not be too high, that the customers will not be able to purchase. The price of the product will be different from the previous. Communication Greater communication can enhance the sale of the services. With the proper communication, it can anticipate that the service of the product will be explored. In this purpose, the commitment regarding the innovative service of the product will be maintained. It will be more beneficial to communicate with the customers to mitigate their concern regarding the product. Community Advertisement and marketing to the community will enhance the sales of the product. The service will be highly explored in the market. As per the commitment, the product innovations will allow the users to get different services at the same time such as online food order and reduce the waste of foods. Reduce the concern of the community regarding this new service. Distribution After analysing the market scenario, the organisation will try to enhance the distribution process. This service will try to explore their business in the global market. With the increase the distribution, it can be predicted that the blue ocean opportunity will be acquired for the business. As per the prediction, after fulfil the commitment, it can be stated that the sale of the service will be increased. Ryan (2014) mentioned that there will arise the dissimilarity between the prediction and the actual sales of innovative service of Too Good To Go. In case of launching of new service, the awareness can be discussed that with the rise in time, the people are looking for the service of Too Good To Go (Royle Laing, 2014). Moreover, it has been mentioned that the new service allows the readers to surf internet, making online shopping along with the placing of inline foods. Therefore, the consumers concern about the innovative service. On the other hand, in case of dissolution regarding the product it can be stated that there is dissimilarity between the previous product and the new launching product. Summary After analysis the 3 cycle marketspace matrix, it can be observed that after launching of new service of Too Good To Go, the price of the product will be higher (Slater, Mohr Sengupta, 2014). On the other hand, in this connection it can be mentioned that in order to update with the new technology, the users will also willing to take the service. As a result, from the above analysis it can be seen that to explore the market in Singapore, the company enhance the distribution. This will effectively increase the sale of the service and the country will be technologically updated (Taken Smith, 2012). Conclusion This study is helpful to identify market exploration after launching of new service such as too good to go. In this purpose, the TOWS analysis is helpful to identify the features of this service. After that 3 cycle marketspace Matrix tried to establish the blue ocean opportunity of the business. References Evanschitzky, H., Eisend, M., Calantone, R. J., Jiang, Y. (2012). Success factors of product innovation: An updated metaà ¢Ã¢â€š ¬Ã‚ analysis.Journal of Product Innovation Management,29(S1), 21-37. Im, S., Montoya, M. M., Workman, J. P. (2013). Antecedents and consequences of creativity in product innovation teams.Journal of Product Innovation Management,30(1), 170-185. Lin, R. J., Tan, K. H., Geng, Y. (2013). Market demand, green product innovation, and firm performance: evidence from Vietnam motorcycle industry.Journal of Cleaner Production,40, 101-107. Miller, M. (2012).B2B digital marketing: Using the web to market directly to businesses. Que Publishing. Royle, J., Laing, A. (2014). The digital marketing skills gap: Developing a Digital Marketer Model for the communication industries.International Journal of Information Management,34(2), 65-73. Ryan, D. (2014).Understanding digital marketing: marketing strategies for engaging the digital generation. Kogan Page Publishers. Slater, S. F., Mohr, J. J., Sengupta, S. (2014). Radical product innovation capability: Literature review, synthesis, and illustrative research propositions.Journal of Product Innovation Management,31(3), 552-566. Taken Smith, K. (2012). Longitudinal study of digital marketing strategies targeting Millennials.Journal of Consumer Marketing,29(2), 86-92.

Safaricoms Mobile Banking

Analyzing Summarizing the Innovation Environment  Safaricom’s Mobile Banking Introduction In 2005, Safaricom, a mobile phone company based in Kenya launched M-PESA, a mobile money transfer technique. This innovation was however a brain child of Vodafone, which is Safaricom’s subsidiary company based in the United Kingdom.Advertising We will write a custom thesis sample on Safaricom’s Mobile Banking specifically for you for only $16.05 $11/page Learn More With funding from UK based Department of International Development (DFID), Safaricom, which is Kenya’s leading mobile service provider agreed to roll out the M-PESA on a trial basis in the East African country. The pilot program which commenced in October 2005 saw one mainstream bank and a microfinance institution partner with the mobile service provider for purposes of providing it with the banking infrastructure needed during the pilot period. Kenya as a market Kenya is a n African country located on the east side of the continent. The country is astride the equator and borders Tanzania on the South, Uganda and Ethiopia on the North and Somalia on the North East border. To the Southeast lies the Indian Ocean. 2007 estimates indicate that Kenya has a population of approximately 37 million people with annual growth rate estimated at 2.8 percent (Fan, 2009). Although fairly late adopters in mobile telephony, People in Kenya have caught up pretty fast. In 1999, two mobile operators, Safaricom and Celtel ventured into the Kenyan market. By the end of 1999, only 17,000 Kenyans had subscribed to mobile telephony. By December 2007 however, 11.3 million Kenyans had subscribed to mobile telephony. Meanwhile however, other mobile telephone companies had entered the market. Fortunately for Safaricom, it remains the largest mobile service provider gauged by the subscriber base. According to Omwansa (2009), the company has 80 percent share of the entire market siz e. When Safaricom launched M-PESA, it commissioned agents in different parts of the country; the agent’s work was primarily to receive deposits from customers and electronically transfer this to the client’s M-PESA account. This electronic money transfer would then be registered as a cash float on the clients phone account. The agents also allowed clients to withdraw money from their accounts by simply entering the amount they wanted to withdraw on the cell phones M-PESA menu, followed by the agent number. In a country where commercial banks are few and wide apart, this financial innovation was embraced by both the banked and the unbanked population largely due to the convenience and the ease of transaction.Advertising Looking for thesis on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Safaricom however maintained that the M-PESA account was not a bank account mainly because people could neither earn inter est on money deposited nor take up loans as is the case with ordinary banking accounts. How M-PESA works Once a person opens an M-PESA account through an authorized agent, Safaricom registers this as an electronic account that one can use to receive, send or withdraw money. Any money deposited in the account is managed by Safaricom, which pools the amount in a mainstream bank in the country. By pooling the money in the commercial bank, Mas Morawczynski (2009) notes that the amount is backed as liquid deposits in the commercial bank. The agents spread through out the country allow people an easy access to money as compared to the limited number of automated teller machines or banks. Mino (2009) notes that ever since its launch, M-PESA has eased the domestic money transfer as previously people would use couriers, money orders or bank transfers to send money, which would be time consuming and often inconveniencing considering that most financial services are located in towns while qui te a significant number of recipients lived in rural areas. Figure 1: M-PESA screen shot Source: Hughes Lonie (2009) Stage of industry evolution – life cycle The industrial life cycle model indicates that a business or an innovation like M-PESA would have four stages of growth (Shaun, 2009). They are: Start-up; growth; maturity; and decline.Advertising We will write a custom thesis sample on Safaricom’s Mobile Banking specifically for you for only $16.05 $11/page Learn More Gauging by the events and the time-line that has passed between the trial phase and now, it is easy to place M-PESA on the growth cycle. It is obvious that the start-up period for the money transfer service was between 2005 and 2007, when M-PESA was operating as a pilot project. At this stage, it only attracted early adopters and it registered approximately 1700 users and recruited about 250 agents across the country. After the successful pilot program, M-PESA was fo rmally launched as a mobile money transfer method in Kenya. This not only increased the consumer base and the agent numbers, but the second-mobile service provider in the country Celtel launched a similar service dubbed Sokotele to compete against Safaricom’s M-PESA. Unlike Safaricom however, Celtel lacked the infrastructure that Safaricom had laid during the two year pilot program thus meaning that Safaricom still had an advantage over its competitor. The fact that money transfer could only be done between people within the same network, who had to be registered with M-PESA, gave Safaricom another advantage. At this point in its life cycle, the company was (and still is) able to capitalize on consumers who are catching up and hence the mobile telephone company still stands a good chance to consolidate as much market share as it can. In this study’s opinion, the M-PESA product is still in the growth phase mainly because the Kenyan market still has a wide untapped mobil e telephony potential. Still, Safaricom does not appear to face much competition from the other three mobile service providers especially since Sokotele (now Zap after a change of name) lacks the penetration that M-PESA has in Kenya’s rural areas. Still, M-PESA is still venturing to new markets and in 2008, Kenyans living in the United Kingdom could use their cell phones to send money to their relatives in Kenya. In May 2010, a local bank (Equity Bank) partnered with M-PESA to allow M-PESA account holders to open a savings account (M-KESHO account) with the bank. This would in turn allow M-PESA account holders to transfer money from their mobile phone accounts to the bank’s account without having to go visit the bank physically. In view of this, it is clear that Safaricom is still venturing into new frontiers and hence is still developing the M-PESA product. As such, M-PESA is yet to hit the â€Å"maturity and decline stages of the product development life cycle† as defined by Bradford et al. (2000). Strategic planning in Safaricom Bradford et al. (2000) states that strategic planning â€Å"allows a firm to define its objectives, assess its internal and external environment, formulate a strategy that fits and implement the same† (p. 121). Further, a strategic plan has provisions where the firm is able to evaluate its progress and make the needful adjustments. Accordingly, a strategic planning process has five processes namely: Mission and objectives; environmental scanning; strategy formulation; strategy implementation; and evaluation and Control.Advertising Looking for thesis on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Internal Analysis Of special interest to this study is Safaricom’s environmental scan since it defines the company’s operating environment, which is of special significance to its success or failure in its business operations. To understand the internal environment, this paper will use a â€Å"Strengths, Weaknesses, Opportunities and Threats† (SWOT) analysis in order to identify the strengths and weaknesses facing the company. Bradford et al (2000), observes that a â€Å"SWOT analysis is essential in matching a company’s capabilities to the available resources, and the competitive environment it operates in† (p. 121). Safaricom’s SWOT Analysis Strengths According to Hughes Lonie (2009), the two representatives from Vodafone who lay the ground work and the partnership needed to roll off M-PESA, Safaricom had core competencies which made rolling M-PESA on its network less challenging The company had the systems and connectivity capabilities needed to roll the money transfer product. This meant that whatever commercial product that was developed by the innovators had to fit within the existing systems and network capabilities. The company had an already existing network of dealer outlet. Having worked with Safaricom previously, most dealers had no problem becoming M-PESA agents once they were convinced the project was economically viable. Safaricom was not the developer of M-PESA and hence the burden of innovation and implementation lay squarely on the shoulders of Vodafone. However, as Hughes Lonie (2009) notes, Vodafone is too big a company to be interested in a small market like Kenya. This means that the benefits of a successful money transfer service would be passed to the Kenyan people as well as the partnering mobile-service provider. Weaknesses Bradford et al. (2000) holds the opinion that the absence of specific strengths in business is perceived as weakness. Fortunately for Safaricom, and in this studyâ€⠄¢s observations, the weaknesses are not as many as to deter the innovative product from existence. One of the outstanding weaknesses in Safaricom is that its 80 percent market share presents both fortunes and bad-tidings at times. The former happens when the communication lines are jammed by too many calls thus jamming the communication networks. While this was initially a problem encountered in the voice and SMS products only, M-PESA also encounters such problems from time to time. Luckily, the problem never lasts for long although it inconveniences quite a number of clients whenever the problem occurs. Opportunities With Mobile money transfers gaining popularity by the day, opportunities for Safaricom abounds not only in the Kenyan Market, but also in the extensive east African Market. Omwansa (2009) observes that M-PESA has already been launched in neighboring Tanzania, and the prospects of partnering with local banks to extend the service to mainstream banks have already cau ght up. As of June 2010, three commercial banks in Kenya had already signed up with Safaricom to allow money transfers from the M-PESA accounts to their banks accounts. The banks were identified as Equity Bank Kenya Limited, Kenya Commercial Bank and Family Bank of Kenya. Loose regulations by the Central Bank of Kenya (CBK) have also afforded M-PESA room for growth unmatched by any other institution in the financial sector. Omwansa (2009) reports that CBK has maintained that M-PESA is not a banking account and hence cannot be regulated as commercial banks. Since it is a fairly new product that has benefited a lot of the Kenyan populace, Omwansa (2009) also observes that the regulatory agencies seems to have an â€Å"unwritten† agreement to let M-PESA be. This is largely thought to be spurred by fears that regulating it may stifle its growth. Threats Although Safaricom is the dominant mobile service provider in the Kenyan market today, one cannot rule out the possibility of more intense competition from other players in future. Omwansa (2009) for example observes that more mobile service providers are investing in the Kenyan market offering competitive rates compared to the rates offered by Safaricom for its voice and SMS products and this could change the market dynamics in the future. Industry Analysis Bradford et al (2000) holds the opinion that a company should evaluate the industry environment before venturing into the same. This allows the company to know what to expect, the barriers it is likely to face, substitute products available in the target market and the intensity and kind of industry rivalry to expect. One of the ideal ways of gauging all these is the Porter’s five forces framework, which this study uses to evaluate M-PESA’s operating environment. Rivalry According to Porter (1998), competition among rival firms has the ability to reduce profits that the firms get from their respective market shares. In Safaricomâ€℠¢s case however, the main competitor in the market was Celtel, which had no product to compete with M-PESA. This presented an advantage to Safaricom, which would have ample time to lay its mobile money transfer at its own pace without fears that the main competitor would out do it. As noted by Omwansa (2009), Celtel only tried out the mobile money transfer after Safaricom had tried it and succeeded. The lack of penetration of Celtel’s part meant that Safaricom remained and still remains the largest provide of mobile money transfer services in Kenya. As such, the would be rivalry failed to be because Celtel’s initiative did not succeed as one would expect especially in a market where it has already been proven that most people transacting on the mobile phone platform do not own bank accounts. According to Porter (1998), rivalries between firms operating in the same environment intensify for a number of reasons. They include: many firms in the same market; a slow growing market; high-fixed costs; uncompetitive storage costs; low or inexistent switching costs; low brand identification; high barrier to exit the market; diversity of rival firms; industry shakeout leading to overcrowding. Analyzing the competitive environment which Safaricom and its product M-PESA operates in, one realizes that none of the factors mentioned above are true in the Kenyan Mobile telephony market and least of all the mobile money transfer sector. This therefore means that Safaricom can only anticipate for probable rivalry in future, but is free to dominate the market presently, just as was the case when M-PESA was launched. Threats of substitutes According to Porter’s view, the threat of substitutes occur when better performing products or services are available in the market. Cheaper products or services also affect the consumer choices. Analyzing M-PESA and its core competitor Zap (changed name from Sokotele when Celtel was acquired by Zain); the latter has fair ly lower transaction costs when compared to the former. As indicated in the diagrams graphics below, Zap is much fairer in its pricing than M-PESA. While this would have given Zap a price-based advantage over M-PESA, the statistics on the ground suggests otherwise. Although acquiring statistics on Zap usage was not successful, this study easily obtained statistics from M-PESA, which indicates that the customer base for the service was at more than 2 million people in the 2007/2008 financial year, with 2,329 agents through out the country. In the 2008/2009 financial year, both the customer and agent numbers had increased with records indicating that there were over 6 million M-PESA customers and 8, 650 agents. By November 2009, the number had yet again gone up to 5 million customers and 14, 764 agents (Safaricom, 2009). Figure 2: M_PESA tariffs Source: http://www.safaricom.co.ke/index.php?id=747 Figure 3: ZAP tariffs Source: http://www.ke.zain.com/opco/af/core/home/channel.do;jse ssionid=4CF576366FC37A870DEB57F35D7EFB02.node0?channelId=-11711selectedChannels=-11704,-11711#lang=en Although this study would like to believe that Zap poses a real threat of substitute to M-PESA, it is apparent that the former would have to strengthen its subscriber base as well as its ZAP network across the Kenyan market in order to pose a real substitution threat to M-PESA. Buyer Power In Porter’s, buyer power is considered a major consideration that a firm must make when analyzing the industry environment in which they seek to operate. Buyer power refers to the impact that consumers of product and services have on the industry. Most consumers would rather have a situation where they have satisfactory products and services at low prices. However, this is only possible in a competitive environment where the there are few buyers in a rather large market share; the products are standardized; or where buyers can attain backward integration which would in turn threaten marke t players. In M-PESA’s case, the buyer power does not seem to be such an applicable concept because Omwansa (2009) reports that the mobile money transfer services has been received and adopted by the banked as well as the unbanked population in equal measure. More to this, there seems to be a wide acceptance among the M-PESA clients of not only the appropriateness of the services in a country where banks are mainly located in town centers, but also the speed of transfer is something that is much appreciated by the Kenyan market. Upon making a deposit to one’s account through an M-PESA agent, there is an instant notification through an SMS of the money transfer. One can then choose to use the money deposited in their account to pay bills, transfer money to someone else’s account or electronically buy airtime for use of one’s phone (Safaricom, 2010). Barriers/ threat to entry According to Porter (1998), barrier or threats to a company entering a specific market can arise from different source. Key among them is barriers created by the government. Luckily for M-PESA, the Kenyan government was more than willing to create a facilitating environment. According to Omwansa (2009), this readiness by the Kenyan government can be explained that Kenya is a developing country that understands that innovation holds great potential that could aid in the country’s development. More to this, Kenya is among the African markets that are fast catching up on technology and the developments so far have only brought better prospects for the government and the population. Patents are also identified by Porter (1998) as other barriers restricting firms’ entry into a market. Fortunately for Safaricom, though the initial innovation was Vodafone’s, the latter had no patenting issues and had in fact come up with the mobile money transfer idea through the encouragement of DFID in order to take innovative banking solutions to developing cou ntries in Africa and other parts of the world (Hughes Lonie, 2009). This gave Safaricom a free reign and could in turn patent this innovation hence Celtel’s adoption of the same two years after the M-PESA pilot program kicked off. Supplier power According to Porters, a firm operating within the producing industry is more prone to influences exerted on it by the suppliers. Such influence can lead to higher costs in raw materials. Being a service oriented product, M-PESA does not suffer from any pressures that could arise from the suppliers. The only contact between the service provider and the customer is the agent, and so far as Omwansa (2009) observes, the relationship between the agents and Safaricom have not suffered any major hiccups. Leadership Safaricom seems to have taken its position as the mobile telephone service provider in a fairly good manner. Gerson Lehrman Group (2010) notes that even taxi drivers know the Safaricom chief executive by name thus suggesting th at the company has maintained a close relationship with its clients. Kenya being a fairly small market, this does not seem like such a hard task to achieve. Omwansa (2009) also notes that the company has managed to engage the media very well and as a result, it has not only kept a constant image in the eyes of the public, but has also made sure that every new development in the company is reported to the public promptly. By releasing its annual performance statistics Safaricom has endeared itself to the public not only because of its profit making, but also because it has incorporated innovation in its customer service. M-PESA is one such innovation that has indeed improved the company’s share as a market leader as Ombok (2010) notes; â€Å"The growth in M-PESA and data markets are the main growth drivers for Safaricom, and will still remain so going forward† (p. 1) Controls According to Omwansa (2009), M-PESA regulation is something the Kenyan regulators do not seem v ery eager to do at the moment. However, noting the expansion of M-PESA into different sectors and the links developed between the product and the financial institutions in Kenya, regulation seems like a necessary step. Apart from regulatory controls however, the money transfer system has instilled control measures that not only ensure the security of money transfer, but also ensure that users stand nothing to loose when using M-PESA. The person identification number (PIN) that one is required to have before carrying out any transaction on the M-PESA platform is one such control. Safaricom encourages the services users not to share the M-PESA pin numbers with anyone because it is the only thing that guarantees security for their money. Omwansa (2009) also notes that there have been incidences where a person transfers money to a wrong account. When this happens, Safaricom encourages people to call the M-PESA customer care services with the details of the recipient account. The custome r service representatives are then able to reverse the money to the sender’s account. However, the money can only be reversed if the recipient had not withdrawn the money already. Strategies and Tactics Delving into the strategies adopted by most Kenyan firms is not an easy task especially because such strategies are guarded as business secrets. In Safaricom’s case however, Fan (2009) observes that the company is not only intent at delivering services to the locals, but is also focused in adding the value that consumers receive from its products, while fortifying its brand at the same time. Quoting Safaricom’s CEO Michael Joseph, Fan (2009) observes that the mobile service provider has made use of the opportunity granted to interact and accompany its clients through the mobile phones. Among the principles that Safaricom seems to have adopted not only for M-PESA but for other product lines is â€Å"think globally, act locally† concept. Like elsewhere in th e world, Safaricom understands that its Kenyan clientele needs a combination of good, efficient services at low prices, which it has worked hard to achieve. The organization has also been consistent in not only its performance but also in strengthening its brand name. Fan (2009) notes that currently, the main Safaricom’s competitor –Zain, has changed its name thrice since its inception in the Kenyan Market. Initially, it was Kencell, then Celtel and now Zain. While this change of name had no significant effect on service provisions, a cautious market like Kenya had its doubts about the sustainability of a brand that keeps changing its name. Safaricom on the other hand seems to have adopted a naming strategy that resonates with Kenyans thus giving them a sense of pride in the product. Quoting CEO Joseph once again, Fan (2009) observes that Safari is a Swahili name Journey. The PESA on M-PESA is also a Swahili derivative meaning money. As such, the firm is working hard t o assure Kenyans that the firm belongs to them, a factor that has been translated to reality by enlisting the firm in the Kenyan Stock Exchange, where locals can buy shares into the company. Financials Although statistics are not quite clear about M-PESA’s contribution to Safaricom’s profit, the money transfer service is among the key growth drivers as noted elsewhere in this study. The firms CEO was quoted by Fan (2009) stating that the firm had hit the 4.5 million customer mark in 2009 and 7,000 agents through out the country. Statistics provided in 2009 indicated that peer-to-peer transactions conducted on the M-PESA platform on a daily basis were around Ksh. 160,000 ($2,133). This not withstanding, the amount of profits generated for Safaricom is quite significant considering that the lowest charge for each transaction is Ksh. 20 ($ 0.26). Above the fixed amount that attracts this rate, customers are charged 3.6 percent of the entire amount they are sending or rece iving. Recommendations Conclusion Mino (2009) notes that the fact that Vodafone initially developed M-PESA as a peer-to-peer mobile money transfer method has put several limitations to the innovation. For starters, the amount of money that one can deposit in their account or transfer to another person’s account is limited at 35,000Kenyan shillings (approximately $500). This therefore means that merchants who would like to use the service to conduct payments for an amount exceeding the stated limit cannot do so. Notably, Safaricom does not hold or manage M-PESA operations rights since the M-PESA software is legally a possession of Vodafone. According to Mino (2009), this means that Safaricom, which is on the ground in Kenya, cannot create or distribute supplementary tools which would enable the M-PESA system to consider the interactions needed by merchants in order to conduct their business transactions without any limitations. Since Kenya is a vibrant developing market, it i s only a matter of time that another person notices the opportunity that exists through the needs presented by the merchants. This is especially considering that the deposit limit is too low to many Kenyan businessmen. As such, Safaricom should seize the moment before anyone else does it and expand their deposit limits. This will not only allow merchants to hold huge amounts of money in their M-PESA accounts before transferring it elsewhere, but will also allows Kenyans to carry huger transactions on the M-PESA platform conveniently. There is also the unending challenge of agents not having enough liquid cash to meet the withdrawal requirements presented to them by M-PESA customers. Safaricom in conjunction with the agents need to find a lasting solution to this problem if indeed the mobile money transfer is to offer wholesome solutions to the financial challenges facing Kenyans. Overall however, M-PESA has been an innovation that has not only received recognition at home, but also elsewhere in the world. In 2007 and 2008, the innovation won the Kenya Banking awards, while in 2008, it won the GSMA best broadcast commercial, Stockholm Exchange (economic development category) and also won the GSMA best-mobile money service award in 2009. This however is not to mean that M-PESA is not facing challenges. The good thing however is that the leadership in Safaricom is willing to handle the various challenges through technology and innovation so as to beat the odds and make the product a lasting service in the Kenyan Market and elsewhere in the African continent. References Bradford, R., Duncan, J. Tarcy, B. (2000). Simplified strategic planning: a no-nonsense guide for busy people who want results fast! Worcester, MA. : Chandler House Fan, J. (2009). Voice from Operators—Safaricom taking Kenyans on a pleasant Safari. Win 2. Retrieved from http://www.huawei.com/publications/view.do?id=5914cid=10948pid=10664 Gerson Lehrman Group. (2010). MPESA challenges incumb ents: the new payments rail in emerging markets. Retrieved from http://www.glgroup.com/News/mPesa-Challenges-Incumbents–The-New-Payments-Rail-in-Emerging-Markets-48515.html Hughes, N. Lonie, S. (2007). M-PESA: Mobile money for the â€Å"Unbanked†: Turning Cell phones into 24-hour Tellers in Kenya. Innovations. Winter Spring, pp. 63-81. Mas, I. Morawczynski, O. (2009). Designing Mobile money services: Lessons from M-PESA. Innovations 4(2), 77-91. Mino, T. (2009). Will the real banks please stand up? Business Daily. Retrieved from http://www.businessdailyafrica.com/Opinion%20%20Analysis/-/539548/621718/-/view/printVersion/-/xmkpkxz/-/index.html Ombok, E. (2010). Safaricom of Kenya’s profit to rise 21% RenCap says (update 1). Bloomberg Business week. Retrieved from http://www.businessweek.com/news/2010-05-25/safaricom-of-kenya-s-profit-to-rise-21-rencap-says-update1-.html Omwansa, T. (2009). M-PESA: Progress and Prospects. Innovations/ mobile world Congress 107- 122 Porter, M. E. (1998). Competitive Strategy: techniques for analyzing Industries and Competitors. Lafayette Detroit, MI: Free Press. Safaricom. (2009). Key performance statistics. Retrieved from http://www.safaricom.co.ke/fileadmin/template/main/images/MiscUploads/M-PESA%20Statistics.pdf This thesis on Safaricom’s Mobile Banking was written and submitted by user Deborah Vega to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Ben Franklin and Nathanial Hawthorne essays

Ben Franklin and Nathanial Hawthorne essays Benjamin Franklin and Nathaniel Hawthorne were both very important to Americas early literature. Franklins Autobiography and Hawthornes My Kinsman, Major Molineux represents the extremes of leaving home. Franklin makes accomplishing the American dream of the self-made man look easy. Hawthorne, however, revises and critiques that dream, showing the harsh realities of the real world. Franklin reveals his life story as a way to show the people of America that determination, hard work, and intelligence lead to success, while Hawthorne describes the harsh world waiting once youth and innocence are gone. Benjamin Franklin and Robin, Hawthornes main character, leave home for different reasons. Franklin, in his autobiography, explains how he journeys to Philadelphia in search of a job and to start life on his own. Franklin wants independence and he knows he will find what he seeks. Franklin states, I took it upon me to assert my Freedom (194). Robin leaves his home with the idea of depending on his second cousin, dependence not independence. Robin journeys from his familys country farm to the city in search of his kinsman, Major Molineux, with hopes that his kinsman will help him get started in life. Hawthorne writes, The Major... had thrown out hints respecting the future establishment of one of them in life. It was therefore determined that Robin should profit by his kinsmans generous intentions (801). Franklin and Robins arrival to the new towns embody the two authors feelings toward the idea of the self made man. Franklin and Robin arrival to their new destinations are drastically different. Franklin arrives in Philadelphia during the day, hungry, and dirty. Franklins determination keeps him going. He buys bread to eat, cleans himself up, and sets out straight away to find himself a job. He finds one within short time, I return...

Deductive and Inductive Reasoning in Sociology

Deductive and Inductive Reasoning in Sociology Deductive reasoning and inductive reasoning are two different approaches to conducting scientific research. Using deductive reasoning, a researcher tests a theory by collecting and examining empirical evidence to see if the theory is true. Using inductive reasoning, a researcher first gathers and analyzes data, then constructs a theory to explain her findings. Within the field of sociology, researchers use both approaches. Often the two are used in conjunction when conducting research and when drawing conclusions from results. Deductive Reasoning Many scientists consider deductive reasoning the gold standard for scientific research. Using this method, one begins with a theory or hypothesis, then conducts research in order to test whether that theory or hypothesis is supported by specific evidence. This form of research begins at a general, abstract level and then works its way down to a more specific and concrete level. If something is found to be true for a category of things, then it is considered to be true for all things in that category in general. An  example of how deductive reasoning is applied within sociology can be found in a 2014 study of whether biases of race or gender shape access to graduate-level education. A team of researchers used deductive reasoning to hypothesize that, due to the prevalence of racism in society, race would play a role in shaping how university professors respond to prospective graduate students who express interest in their research. By tracking professor responses (and lack of responses) to imposter students, coded for race and gender by name, the researchers were able to prove their hypothesis true. They concluded, based on their research, that racial and gender biases are barriers that prevent equal access to graduate-level education across the U.S. Inductive Reasoning Unlike deductive reasoning, inductive reasoning begins with specific observations or real examples of events, trends, or social processes. Using this data, researchers then progress analytically to broader generalizations and theories that help explain the observed cases. This is sometimes called a bottom-up approach because it starts with specific cases on the ground and works its way up to the abstract level of theory. Once a researcher has identified patterns and trends amongst a set of data, he or she can then formulate a hypothesis to test, and eventually develop some general conclusions or theories. A classic example of inductive reasoning in sociology is  Ãƒâ€°mile Durkheims study of suicide. Considered one of the first works of social science research, the  famous and widely taught book, Suicide, details how Durkheim created a sociological theory of suicide- as opposed to a psychological one- based on his scientific study of suicide rates among Catholics and Protestants. Durkheim found that suicide was more common among Protestants than Catholics, and he drew on his training in social theory to create some typologies of suicide and a general theory of how suicide rates fluctuate according to significant changes in social structures and norms. While inductive reasoning is commonly used in scientific research, it is not without its weaknesses. For example, it is not always logically valid to assume that a general principle is correct simply because it is supported by a limited number of cases. Critics have suggested that Durkheims theory is not universally true because the trends he observed could possibly be explained by other phenomena particular to the region from which his data came. By nature, inductive reasoning is more open-ended and exploratory, especially during the early stages. Deductive reasoning is more narrow and is generally used to test or confirm hypotheses. Most social research, however, involves both inductive and deductive reasoning throughout the research process. The scientific norm of logical reasoning provides a two-way bridge between theory and research. In practice, this typically involves alternating between deduction and induction.

'Give an account of the main mosques of Samarra' and al-Fustat in the Essay

'Give an account of the main mosques of Samarra' and al-Fustat in the early 'Abbasid period.' - Essay Example Through a discussion that begins with first developing a basic understanding of the function and form of Mosques from the medieval period, then moving through a discussion of specific structures, an exploration of the Mosques from the Abbasid period can be made in order to better understand the importance of these great structures. Function In attempting to study the architecture of the Islamic world, Hillenbrand suggests that one of the primary difficulties lies in the terminology that is used. This is due to the multiplicity of purposes that each building would serve as a function within the culture. He states â€Å"Small wonder that one and the same building could be designated by a string of descriptive terms if each did in truth refer to some aspect of its regular function†.1 In examining the ways in which the buildings of the Islamic middle ages were used it is clear that that mosques were not only used for worship, madrasas were not only used for education, and neither were mausolea used just for burial. The many needs of the culture were fit into the buildings through multiple functionalities, thus the first understanding of such buildings must be made through the idea of function. In discussing function, the first problem that can be seen in studying Islamic buildings is that there is little in the way of written information on the building of these structures. Technical renderings and information about the circumstances of how these buildings came into being are few and far between, allowing for only the buildings themselves to serve as objects of study on their construction.2 Although there is suspicion that the Islamic religious aesthetics influenced the building of Mosques during the medieval period, there is no explicit reference known or accessible to Western cultures that suggest that this is the case. Therefore, in studying the function of such buildings, one must look at the building itself to try and access this aspect and the culture in order to understand the development of needs for which the building served as a solution for cultural needs. According to Meri and Bacharach, however, most Mosques of the medieval period were designed after the creation of house that was build for Mohamed in Medina, which is located in Saudi Arabia. Literary evidence of the form of this house is more relevant than the archaeological as it is described as having a â€Å"large walled courtyard with entrances on three sides and two covered porticos, the larger of which functions as a sanctuary for the faithful where they may find shelter from the sun during prayer†.3 The original orientation of the qibla wall, the wall of the larger portico, was originally facing towards Jerusalem, and then later towards Mecca, thus providing for the importance of orientation when building a Mosque. The small portico was used as a place of shelter for those who were poor, thus setting up the division of classes within the Mosque cultural usag e. The three basic elements developed from this original structure were the courtyard for the gathering of the followers of Islam, the sanctuary for prayer, and the qibla wall.4 Form Hillenbrand lists three distinct areas in which form can be discussed. The first is in hierarchy, the second is in

Product use for a resendential application Essay

Product use for a resendential application - Essay Example Vinyl flooring has become very popular because of its durability and quality. They create a stylish and long-lasting beauty for every constructor that uses them in polishing up a floor. Being a tile, vinyl gives its clients a variety of options on the number of ways it can be laid down. The tiles can be custom cut in different shapes to form variety of patterns and designs depending on what the constructor wishes to have. Because of this flexibility, any look can be attained in setting up the design of the floor (Kapsin, 1). The different colours that the tiles are available in make it possible for the flooring to suit any room decor. Vinyl flooring has been known for its resilience. The flooring cuts down on the level of noises in the room and also gives a lot of comfort underfoot. Their resilience, compared to other floors such as terrazzo or wood, gives the vinyl floors an edge and makes it the most preferred choice for the customers. Other than being resilient, the vinyl floors are actually very durable. Even when subjected under a lot of heavy foot traffic and loads, the floor still maintains its beauty. It is resistant to moisture and stains, which give it an upper hand when it comes to handling of spills on the floors (Vinylflooring.com, 1). Thus, it gives the owner of the apartment a polished and outstanding look over a long period of time. When it comes to health issues the vinyl floor offer a great deal on this. The floors are designed to basically be slip resistance. Vinyl floors are enhanced with the slip-retardant surfaces to make them less slippery and avoid accidents (Kapsin, 1). The floor is also very easy to clean without causing the spread of germs, such as mold, all over the apartment. Vacuum cleaners clean the vinyl floors very easily. Vinyl floors are very economical. They are easy to install and maintain as they do not require frequent upgrading. Most of the other flooring options such as wood always

The Upcountry Look Essay Example for Free

The Upcountry Look Essay â€Å"Lose it girl, block shoes are long gone,† came a sneer.   Ã¢â‚¬Å"And the voluminous, billowing gown with metallic threads should be spared for the evenings.† Those made me look up. A girl in jeans had thrown that one at me. I felt a hot flash of shame sweep throughout my body.   Ã¢â‚¬Å"Use a deodorant,† a handsome young man who stood next to me hauled that one as a fresh waft of perfume filled my nose.   I felt angry, ostracized and humiliated but I managed a chuckle, after all what you think is an embarrassment does pale into insignificance once you laugh it off.   Everyone looked so smart and jolly, uttering just the right words without mincing them. I knew I would flop but I had to give it a go. The premonition to be, I lost it. It was a job interview for news anchors in a highly rated local Television station. I lacked presence and charisma, they had told me with a dismissal. I swore to myself that I had to loose that look; dress right and pursue whatever counted in order to fit and belong. Meanwhile I had a bus to catch back to the village.   Two hours later the bus ground to a halt. I set off on the winding dusty road that led home. I felt low, especially when a flash of the incident at the audition room came to my mind, but I was looking forward to the look my sister would wear on her face as she drunk to every word I would use to describe the big city.   Ã¢â‚¬Å"The buildings tower high on the sky and stand erect without a sway even if a Manhattan wind came.†Ã‚   She would leave her mouth agape.    â€Å"The people move hurriedly without acknowledging each other.† I expected a squirm, it’s a taboo not salute anyone you cross roads with according to our culture.   Ã¢â‚¬Å"How are you, Mariamu?† I knew that voice. It was Mzee Bura an elderly man from our village. His back was stooped and walked with a hobble supported by his walking stick.   Never mind he mispronounced my name which is Miriam because every person I knew did that. My sister’s name is Grace but they called her Grathi. Mzee Bura’s right shoulder was stooping under the weight of a parcel. I offered to help as out traditions dictated.   Ã‚   My nose twisted involuntarily as a strong unpleasant smell of smell of smoke, dirt and sweat hit me with a revolting effect, but what to do. I went ahead with my pleasantries as we filed along the path exchanging a polite conversation although he did most of the talking. I felt tortured by the swift evening breeze which brought the murky odour to my direction. I wondered what the city people would have made of us then.   Ã¢â‚¬Å"Lose him girl, he is ancient.† That sounded like the most probable reaction from them. We walked on and calling the journey a long distance is an understatement. Our village is literally at the other side of the globe. The learned would call it a sleepy village because of its lack of civilization but it was home. I loved it.   Ã¢â‚¬Å"Mariamu, you did me proud. Mzee Bura told me about your help yesterday.† I imagined my mother’s proud voice complementing me.   Darkness had fallen by then and there a comfortable silence between us as we trotted on.   A flickering light from a distance confirmed that we had indeed arrived in our home turf. A drunken man was shouting but although it happened all the time his words were cutting my conscience.   Ã¢â‚¬Å" I sent my Mariamu to the city . . . aah . . . you’ve always taken me for a fool . . . the next time she comes to this village she will be driving a car.† That was my father’s slurred talk.   Apparently my mother’s token of gratitude ( to her husband for sending their eldest daughter – me to the city)   in the name of a drink was not a viable idea because my father was making a spectre of me in the village.   Ã‚  It made me fiery at the thought of facing questioning stares from the people the following day. He was yelling everything about his household to all and sundry and never mind he had counted his chicks too early when it came to me. I glared and hissed in the darkness to let go the turmoil inside me.   Ã¢â‚¬Å"Did you say something?† the old man’s hoarse voice enquired with concern. I held my breath. It was a spontaneous unpremeditated sound of annoyance. How could my father do that?   When I woke up the following morning I spotted my father immediately. He was lounging in our smoky kitchen holding a bowl of porridge. He was sober and it was hard to even think he had taken a drink of muratina, the local traditional beer, and last night. He looked a man so easy to be with, a man one can like or even admire as he spoke so eloquently on the normal issues which had nothing to do with the previous night. He appeared affectionate as he politely listened to my mother explaining what had become of my visit to the city.   Ã¢â‚¬Å"Mariamu, you should go to the river then come fetch me some firewood.† My mother instructed me.   Ã¢â‚¬Å"You should lose this river and firewood crap. It’s time to go tap and at least a charcoal stove . . .† I felt like telling my mother. I was bare footed. This look! I did not like it at all. I smiled at my mother and took a metallic jerican that has been with us for as long as I can recall. My older brother is basking in the morning sun waiting for his peers to call him for a hunting game. Domestic chores are for women or so I was made to believe as I was growing up. It made me wonder why the masculine young man had no chore to attend to, yet house hold work is the hardest work in the word, but all the same that occurred to me was the reason they never help.   The morning air was fresh. I rubbed my calloused feet on the soft grass that still had the morning dew to give them a clean look, avoiding the foot path. The women were already in the fields singing their hearts out and swinging their hips with moves that increased the pace at which they worked. As they stood to salute me, I could see their faces were glistening with sweat.   Ã¢â‚¬Å"Do they use a deodorant?† I wondered.   The water was sparkling clean and I could tell that it had not been disturbed that morning. I decided to sit by the river bank and let my legs dangle in the water to rid off some dry grass that had stuck between my toes. The water felt warm on my skin and I decided to take my time. The sun started beating on me and the black nylon skirt started feeling like a furnace on my thighs. It was time to move on to the next chore.   The bushes scraped and scratched my skin as I weaved my way underneath the thickets searching for some dead branches which we used as firewood. The smell of green vegetation was overwhelming and it made me feel nauseated. I had to lose this upcountry way of life, sorry, look.   That twenty something years ago and today from the high storey building where my office located, I glance through the window at the ever busy city and everything seem so normal but my first encounter with the city is unforgettable, and more so the ideas it gave me.

Comparing Measure for Measure and The Merchant of Venice, As You Like I

Parallels between Measure for Measure and The Merchant of Venice, As You Like It, and Twelfth Night What is comedy?   Funk and Wagnalls New Encyclopedia says: "A comedy depicts the follies and absurdities of human beings."   Webster's Dictionary defines comedy as: "A drama or narrative with a happy ending."   Shakespeare's play, Measure for Measure, fits both of these descriptions.   Follies and absurdities are present in the play: Lucio slanders the Duke, not realizing that his crude remarks are being spoken to the Duke himself; Angelo abuses his power thinking that the Duke is not present to know; and Ragozine happens to die in prison the day a head is needed to substitute for Claudio's.   The play also ends on several merry notes, consistent with the definition of comedy.   For example, Angelo's life is spared and he is forgiven; Mariana is married to Angelo; the Duke punishes Lucio humorously with marriage; Barnardine is pardoned; and Claudio is saved.   The parallels between Measure for Measure and three other Shakespearean comedies, The Merchant of Venice, As Yo u Like It, and Twelfth Night, also help to classify Measure for Measure as a comedy.   In Measure for Measure, like in The Merchant of Venice, As You Like It, and Twelfth Night, an arbitrary law or obstacle is eventually overcome; a disguised character affects the outcome of the play; a clown adds humor to the plot; a female character bears a large responsibility for the final resolution; and forgiveness and reconciliation mark the conclusion of the action.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Some critics consider Measure for Measure a "dark" play because of the serious obstacles encountered by the characters.   However, doesn't The Merchant of Venice also have near-tragic hindrances that af... ... only does Measure for Measure fit the definition of comedy, it also parallels Shakespeare's other comedies.   Like The Merchant of Venice, As You Like It, and Twelfth Night, the plot of Measure for Measure overcomes an adversarial obstacle, possesses a disguised character who affects the denouement, touches the audience with the humor of a clown or ruffian, endures the influence of a powerful a female character, and ends with forgiveness and reconciliation.   The similarities between Measure for Measure and The Merchant of Venice, As You Like It, and Twelfth Night help to place Measure for Measure in the same category with Shakespeare's other comedies.   Furthermore, the "problems" many critics single out in Measure for Measure are also present in The Merchant of Venice, As You Like It, and Twelfth Night, and further help to classify Measure for Measure as a comedy.

Partnership Law

The Law of Partnerships:Scott Osborne The applicable law: Partnership Act 1892 (NSW) The relevant law is contained in the Partnership Act (PA) of each of the jurisdictions. All are based on the PA (1890) UK Act. The contractual nature of Partnerships Partnerships are essentially contractual. Defining a Partnership [s. 1 PA 1892 NSW] The PA defines a partnership as â€Å"the relation which exists between persons carrying on a business in common with a view of profit† Partnerships are unincorporated bodies without any separate legal identity of their own.As Justice Barton put it in Cribb v Korn (1911), â€Å"to be partners, they must have agreed to carry on some business†¦. in common with a view to making profits and afterwards of dividing them, or of applying them to some agreed object†. SO†¦.. whether a particular relationship is, in law, deemed a partnership will depend on the parties showing that it exhibits all THREE ELEMENTS that the PA 1892 require. They MUST show that they are; 1 CARRYING ON A BUSINESS; 2 IN COMMON; 3WITH A VIEW TO PROFIT. Defining â€Å"business† [s. PA 1892 NSW] In Hope v Bathhurst City Council (1980) Justice Mason defined the term business as â€Å"activities undertaken as a commercial enterprise in the nature of a going concern for the purpose of profit on a continuous and repetitive basis†. Difficulties can arise at common law whether a particular activity constitutes â€Å"carrying on a business†. It seems to be a question of fact and degree, for example, Evans v FCT (1989) where Evans won $800k from gambling. FCT said he was â€Å"carrying on a business† for claiming tax from him.Held: Evans had not been â€Å"carrying on a business† of punting as his activities lacked system and organization. Justice Hill made the point that â€Å"all indicia to be considered as a whole†. Defining â€Å"carrying on† Seems to mean that there must be a degree of continuity eith er in fact or intention. Normally an isolated transaction will not be â€Å"carrying on a business† as in Smith v Anderson (1880) where LJ Brett said: â€Å"carrying on implies a repitition of acts and excludes doing one act which is never repeated†.The NSW Supreme Court used similar reasoning in Hitchins v Hitchins (1999) where Justice Bryson said: â€Å"it was characterized as an investment rather than a trade and flow of transactions which could be thought of carrying on a business. BUT– a P CAN be entered into for a single venture if that is what the parties intend as in Minter v Minter (2000) where court said: â€Å"Today, a single purpose joint venture does not escape being a partnership IF otherwise it satisfies the criteria for a partnership in the sense of a commercial enterprise with the object of gain or profit†.SO†¦.. while continuity/repetition of operations may be a strong indication of â€Å"carrying on a business† it is probab ly no longer a â€Å"critical† consideration: Chan v Zacharia (1984), Justice Deane. Contemplated Partnerships A mere agreement to carry on a business as partners at some, (even specified), time in the future does not make the participants partners UNTIL THAT TIME ARRIVES. If one of the intending partners starts the business early without the consent of the others this will still NOT constitute a partnership.Engaging in merely preparatory activities will not constitute â€Å"carrying on a business† : Pioneer Concrete Services v Galli (1985) BUT Everything will depend on whether the activities are really merely preparatory: Khan v Miah (2000) – Lord Millett said, â€Å"they did not merely agree to take over and run a restaurant they agreed to find suitable premises, fit them out as a restaurant and run it once they had set it up. It was what they had jointly agreed to do. Definition of â€Å"in common† There must be some joint participation in a common bu siness: Checker Taxicab Ltd v Stone (1930)A driver rented a taxi from the owner and paid him a % of the fares as commission was held NOT to be carrying on a business in common as no joint participation, no shared rights or duties and each person in reality carried on his own separate and distinct business. The â€Å"in common† requirement does NOT mean that all the alleged partners must take an active part in the business. The test seems to be: â€Å"Does the person who carries on the business do so as agent for the persons alleged to be partners? † – Lang v James Morrison & Co Ltd (1911) Definition of â€Å"with a view of profit†Minter v Minter (2000) made clear that â€Å"a view to ultimate profit is essential in a partnership† BUT noted that it has not been essential that there be a profit-making motive in the short term. This means that even though the partners are carrying on their business in the expectation that there could be losses INITIAL LY – the business will still be carried on â€Å"with a view of profit† IF the parties INTEND that it will ULTIMATELY earn profits. SO†¦.. even where an enterprise does operate at a loss, the parties INITIAL INTENTION will invariably have been to run it at a profit (even if the intention was hopelessly optimistic! N. B. Stekel v Ellice (1973) – parties’ stated intention may be overruled. How the contract of Partnership arises 1. formally by deed; 2. more informally but still in writing; 3. by word of mouth agreement; 4. partly written and partly oral; 5. can be implied from the conduct of the parties; Because partnerships are essentially business contracts the law relating to their formation etc is THE LAW OF CONTRACT. There is NO requirement that a WRITTEN AGREEMENT to evidence parties intention to operate as partners†¦ BUT a formal Partnership Agreement has FOUR clear advantages such as: 1. ritten agreement will set out unequivocally who are p artners; 2. it will clearly detail each partners duties, rights and responsibilities; 3. if a dispute arises the written agreement can be referred to or should prescribe some pre-agreed solution or means or arriving at the solution; 4. the written agreement will allow the parties to make express and undeniable provision for things that are not covered by the Partnership Act or which although provided for in the Act canbe altered by some express agreement to the contrary if the parties choose to do so. Relationship of Partners to Each otherThe relationship is both CONTRACTUAL and FIDUCIARY. 1. partners are not normally permitted to act except for the common good; 2. their relationship is governed mainly by parties’ own agreement rather than Statute. The parties’ fiduciary obligations are subject to their obligations under the Partnership Agreement – Justice Mason in Hospital Products Ltd v United States Surgical Corp (1984) when he said â€Å"the fiduciary relat ionship cannot be superimposed upon the contract in such a way as to alter the operation which the contract was intended to have† Duty to act for the common goodMust not carry on another business in competition with the partnership: Lawfund Australia Pty Ltd v Lawfund Leasing Pty Ltd (2008) BUT If they obtain their fellow partners’ fully informed consent they may retain the benefit for themselves: Farah Constructions Pty Ltd v Say-Dee Ltd (2007) Duration of the â€Å"Duty† Fiduciary duties, in some circumstances, can arise before the partnership formally commences AND they will continue even after dissolution UNTIL the final accounts have been taken. Therefore – the obligation not to pursue personal gain can both pre-date and, to a limited extent, survive the partnership itself as in :United Dominions Corporation Ltd v Brian Pty Ltd (1985) UD and B were partners in a shopping centre development project with a third party SPL. UD was a major financier of th e project and SPL had granted it a mortgage over the land. The mortgage apparently secured not only the borrowings for the shopping centre but also borrowings for other projects in which Brian had no interest whatsoever. The mortgage was granted before the shopping centre partnership had formally come into being but well after negotiations for it had commenced (and at a point when it was clear that B would participate).Notwithstanding this, neither UD or SPL told B of the mortgage’s â€Å"collateralisation† clause. When the shopping centre had been completed and sold UD tried to retain all the proceeds of sale (including all the profit) to reduce SPL’s indebtedness to it for the other loans. B objected. HELD: A fiduciary duty exists between prospective partners. As a fiduciary, UD had a positive duty not to seek a private advantage without B prior knowledge and consent. The same reasoning was applied to: Battye v Shammall (2005) Both parties entered into an agre ement to train and race three horses in partnership.The plaintiff agreed to pay the defendant $25,000 for a half-share in the horses, not knowing that he had bought them for a total of $30,000. He therefore made a secret profit of $10,000. This profit had arisen as a direct result of the defendant’s breach of fiduciary duty and he was therefore liable to account for it to the plaintiffs. In terms of surviving the partnership (until final settlement of the accounts) see: Chan v Zacharia (1984) The parties were partners in a medical practice. They dissolved it in 1981.The premises was leased and the option to renew the lease had to be exercised by the doctors jointly. After dissolution, but before final settlement of accounts, Dr Chan not only refused to join Dr Zacharia inexercising the option, he actively sought and gained a new lease of the premises in his own name alone. Because consulting rooms were difficult to obtain in the area and because the renewal was therefore a ve ry valuable asset Dr Zacharia sued for a declaration that Dr Chan held his interest under the new lease as constructive trustee for all members of the former partnership.HELD: Because their fiduciary obligations continued after dissolution, at least as far as was necessary to wind up the firm’s affairs, Dr Chan had NOT been entitled to usurp for his own private profit an asset and opportunity which had properly belonged to the partnership as a whole. He was, therefore, required to account for that private profit. In terms of once the partnership’s affairs have been completely wound up and final accounts have been taken: Metlej v Kavanagh (1981) The parties had practiced as solicitors in a partnership.They had used rental premises and, when they dissolved their partnership, they agreed to continue occupying the premises together but to operate separate practices. Kavanagh subsequently bought the premises and Metlej sued arguing that he was entitled to participate and to buy a one-half interest in the property. HELD: While Kavanagh would have been liable to account to Metlej for the opportunity during their partnership – he was NOT LIABLE after its dissolution. The same reasoning was applied to:Sew Hoy v Sew Hoy (2001) Bindingness of the Partnership Agreement [s. 5 PA 1892 NSW] + [ss. 6-9] The Partnership Agreement is only binding on the partners themselves SO the terms in it do not normally have any effect on the rights or entitlements of third parties doing business with the firm. EG: a Partnership Agreement states that any one partner can sign partnership cheques UP TO $50,000 but cheques in excess need to be counter signed by another partner – That provision would have no effect on the rights of the erson who accepted the cheque for more than $50,000 bearing only ONE signature UNLESS he had been made aware of the restriction before accepting it. TWO KEY POINTS HERE : Restrictions in Partnership Agreements have this limited effect on third parties because of the doctrines of: 1. Privity of Contract; 2. Ostensible (apparent) Authority Under the doctrine of Privity of Contract the terms of the Partnership Agreement (the contract) are only binding on and CAN ONLY BE ENFORCED by the actual parties to that contract i. e. the partners.Under the doctrine of Ostensible (apparent) Authority third parties are entitled to assume that those who occupy positions that normally carry certain authority will have that authority UNLESS there has been some express notification to the contrary. Each partner is the de jure agent of his fellow partners for the purpose of doing those things that are usual for carrying on the business of the partnership in the normal way – therefore each partner has ostensible authority to do everything that might be regarded as part of the everyday normal functioning of the business.THIS CONCEPT IS NOW ENCAPSULATED IN THE PARTNERSHIP ACT (1892) NSW s. 5 BUT – knowledge of the third pa rties IS relevant : Construction Engineering (Aust) Pty Ltd v Hexyl Pty Ltd (1985) Construction Engineering contracted to build houses for Tambel on land that Tambel appeared to own. Construction Engineering was not aware that Tambel was in partnership with Hexyl Pty Ltd. However, their partnership agreement specifically said Tambel was to negotiate and sign the building contract as sole principle (not as agent for Hexyl or the partnership) and that the partnership’s legal interest in the property was not to arise until after he completion of the building. When a dispute arose about payment Construction Engineering alleged that Tambel had entered into the contract on behalf of the partnership and therefore both Tambel AND Hexyl were liable. Held: Hexly was not liable – while partners can bind one another in contract Tambel had been EXPRESSLY PROHIBITED from entering into the building contract as the firm’s agent. AND – partners’ actions must be wit hin the type of business carried on by firm: Polkinghorne v Holland (1934)Thomas Holland and his son Harold and Louis Whitington were partners in a law firm. Claimant Florence Polkinghorne was one of Thomas Holland’s long time clients but much of her business was attended to by his son Harold Holland. Harold advised Florence Polkinghorne to invest money in a Trust Investment Company that he had formed (which he knew was little more than a shell). Harold later advised her to lend ? 1000 to another of his companies called Secretariat Ltd (which again was little more than a shell).Finally, he persuaded her to become a Director of Secretariat Ltd and to guarantee an overdraft in exchange for a share of the profits. All investments failed! Mrs Polkinghorne lost the ? 5000 that she invested plus ? 5475 for which she became liable under her guarantee. Harold disappeared! Mrs Polkinghorne sued his father Thomas Holland and Louis Whitington alleging that as partners they were liable f or her losses. They argued they were not liable because giving financial advice was not part of the â€Å"ordinary course of the business of the firm†.Held: Harold’s partners were liable for the ? 5000 she had lost in the investments BUT NOT LIABLE fir the ? 5475 she had lost by guaranteeing the overdraft. They were liable for the first loss as providing advice WAS a normal part of the business of the firm. They were not liable for the losses on the guarantee as this had NOT INVOLVED HAROLD ACTING IN HIS PROFESSIONAL CAPACITY – THEREFORE NOT IN THE ORDINARY COURSE OF THE BUSINESS OF THE FIRM. BUT – partner’s actions will be looked at subjectively AND objectively when courts decide whether the other partners are liable:There are two limbs: 1. The subjective test is – what kinds of business does this firm actually carry on (and then look at any actions taken by a partner that were not actually authorized) 2. The objective test is – what kinds of business do other firms actually carry on in the same line of business (a sort of reasonable expectation point) It seems that the courts have favoured this approach as in: Mercantile Credit Co Ltd v Garrod (1962) Garrod and Parkin operated a garage in partnership. Parkin ran the business.Garrod was a sleeping partner with no interest in the firm’s day to day running. Their agreement specified that buying and selling cars was NOT to be part of the firm’s activities. In breach of their agreement and without authority from Garrod Parkin fraudulently sold a car to Mercantile Credit who discovered the fraud and sued for the return of its ? 700 purchase price. Garrod denied liability arguing that Parkin had had no actual or ostensible authority as selling cars was not â€Å"business of the kind carried out by the firm†. Held: Garrod WAS liable.Even though what Parkin had done had been without Garrod’s authority (thereby eliminating any liability under the first limb it was AN ACT WITHIN THE SCOPE OF THE FIRM’S BUSINESS. Therefore, Parkin had had the necessary OSTENSIBLE AUTHORITY and both partners were liable under the second limb. Justice Mocatta looked at the type of business that could be expected in garages generally. â€Å"Holding Out† as Partners [s. 6(1) PA 1892 NSW] Authority of those held out as partners Even non-partners can bind the firm if the firm or some of its members hold them out as partners (this is part of the Doctrine of Ostensible Authority).By representing that a particular person is a partner, the partnership is effectively saying, either to the world or to an individual that the person has all the powers of a partner and that he has authority to bind the firm. If someone then deals with that person (in the belief that they are a partner) the firm may not disassociate itself from liability just because that person was not, in fact, a partner. By representing that that person was a partner the firm becomes liable for any actions which it would have been reasonable for him to have taken as a partner: s. 6(1) PA 1892 NSW. Liability of those â€Å"held out† as Partners s. 4 (1) PA 1892 NSW Third parties deceived by a holding out can therefore sue not only the real partners but also all those who were held out, exactly as if they had been real partners, provided they had at least acquiesced in the holding out. Estoppel Those who allow themselves to be held out as partners, knowing or suspecting that this might induce third parties to alter their position in reliance on that representation, will be estopped from denying the fact of partnership if the denial is to avoid liability to those third parties as in: Waugh v Carver (1793) Liability in General Liability of â€Å"general† partnersA general partners liability is unlimited – liable to the full extent of their personal resources for partnership debts and obligations. If called upon they can ONLY seek a contribution from the other general partners. Their rights against the limited partners are restricted to the limited partners’ agreed contribution. A general partner CAN change status to become a limited partner SO LONG AS there is still at least ONE GENERAL PARTNER left. Liability of â€Å"limited† partners Only liable for the firms debts and obligations to the extent of his contribution or agreed contribution to the firm’s capital : ss. 0, 61 and 65(2) PA 1892 NSW. In NSW they can either be in cash or property valued at a stated amount. (In QLD those contributions must be in cash). THIS LIMITED LIABILITY ONLY RELATES TO LIABILITIES THE PARTNERSHIP OWES THIRD PARTIES. THE LIABILITY TO THE OTHER PARTNERS IS GOVERNED BY THE PARTNERSHIP AGREEMENT AND THE RELEVANT PARTNERSHIP ACTS. Losing Limited Liability Can and will be lost – 1. if there are defects in the Partnership Agreement; 2. if the limited partners participate in management; 3. if a limited partn er’s contribution to capital is withdrawn; 4. if the partnership ceases to be a limited partnership . if there is a failure to describe the partnership as a â€Å"Limited Partnership† in business documents; Key point about limited partnerships: They must be registered : s. 50 PA 1892 NSW Terminating a Partnership Can be dissolved in any number of ways. They may terminate their relationship: 1. by agreement; 2. or if they have provided for it in their original Partnership Agreement – one partner may simply give notice of termination; 3. court intervention (in the event of relationship breakdown. Remember†¦. because partnerships are contractual relationships any change in the composition of the partnership (i. e. ny change in the â€Å"parties†) will technically terminate it: Rushton (Qld) Pty Ltd v Rushton (NSW) Pty Ltd (2003). If some or all of the remaining partners want to continue after a change they can – provided there is both an appropri ate agreement and some arrangement to pay out those partners who are leaving. N. B. any continuation will involve a new partnership; the old partnership will have terminated when the change took place. Therefore – at its lowest level termination will occur whenever there is any voluntary (or involuntary) change in the composition of the partnership whether or not the busiess continues after the change.Such changes include changes initiated by: 1. the death of a partner; 2. the expulsion of a partner; 3. the retirement of a partner; or 4. the introduction of a new partner Dissolution and Winding Up At its severest level termination can involve a formal dissolution of the partnership followed by a winding up of the partnership’s affairs. Winding up means that the partnership’s assets are sold, its debts are paid and any residue that remains is then split among the (now former) partners in accordance with either the terms of their Partnership Agreement or the provi sions in the Partnership Act: s. 4 PA 1892 NSW. Difference between â€Å"Dissolution† and â€Å"Winding Up† Critical difference between dissolution and subsequent winding up is described in: Rushton (Qld) Pty Ltd v Rushton (NSW) Pty Ltd (2003) . Death of a Partner s. 33(1) PA 1892 NSW The PA 1892 NSW provides that: â€Å"subject to any agreement between the partners, every partnership is dissolved as regards all the partners by the death of any partner† SO†¦. in the absence of a contrary agreement, the death of any partner must automatically bring the partnership to an end.The firm’s business may then be formally wound up, its assets and undertaking may be sold, its debts will be paid and any balance will be distributed between the deceased’s estate and the surviving partners in accordance with either the terms of the partnership agreement or, if there are no specific terms, the provisions of the Act. Why automatic dissolution? It is designed to protect the deceased’s interest in the partnership. N. B. The Partnership Agreement can stipulate by agreement that the death of a partner is not to result in automatic dissolution.Expulsion of a Partner s. 25 PA 1892 NSW s. 25 PA 1892 NSW provides that: â€Å"no majority of the partners can expel any partner unless a power to do so has been conferred by express agreement between the partners† The â€Å"express agreement† referred to, while it need not be in writing, should be part of the original Partnership Agreement. Partners have no inherent right to expel co-partners. It is not enough that all the partners get together and agree agree to put a power of expulsion into their agreement just to get rid of the disfavoured partner.The â€Å"normal† way of resolving irreconcilable differences is to dissolve and wind up the partnership. There are a number of â€Å"fiduciary safeguards† which include: 1. the expulsion must be exercised in good faith and it must not be improperly motivated; 2. any power to expel a partner will be strictly construed; but 3. unless the Partnership Agreement expressly or impliedly provides for it, a partner being expelled need not generally be told the reason for the proposed expulsion nor given an opportunity to speak in his defence. How the good faith requirement operates is well illustrated in:Blisset v Daniel (1853) – â€Å"where a power of expulsion exists it must be used for the benefit of the partnership as a whole and not for the benefit of particular partners†. Retirement of a Partner s. 26 PA 1892 NSW The effect of one partner retiring (as with death or explulsion) is to dissolve the partnership in its then form. This is the case even so the business of the firm may continue :Hadlee v Commissioner of Inland Revernue (1989). The practical effect raises some sort of indebtedness between all or some of the continuing partners (those who are buying out the retiring partner).The retiring partner loses all rights to have any continuing say in how the business is run. If the firm is going to continue as a new firm after the partner has retired they may well incur an obligation to indemnify the retiring partner against any action by the firm’s creditors after the effective date of his retirement. This will be important to the retiring partner because under the PA NSW he remains liable for all debts and obligations of the partnership before the effective date of retirement unless the remaining partners and the firm’s creditors agree otherwise : s. 7(3) PA 1892 NSW. The Introduction of a New Partner s. 24 (1)(7) PA 1892 NSW s. 24 (1)(7) PA 1892 NSW provides that: â€Å"no person may be introduced as a partner without the consent of all existing partners† This provision follows naturally from the fact that partners have an unlimited liability for partnership debts and obligations and therefore there is a mutual trust, confidence, understandi ng and goodwill presumed to exist. Incorporated Limited Partnerships s. 49 PA 1892 NSW defines them as â€Å"an incorporated limited partnership formed in accordance with the Act† – NOT VERY HELPFUL!Better defined as, â€Å" an association of persons carrying on business as partners where the liability of at least one of them is limited and the funds and business are managed by one or more general partners for the benefit of all the partners collectively† – s. 995-1(1) Income Tax Assessment Act 1997 (Cth). SO†¦these partnerships have a corporate identity, a separate legal personality and perpetual succession. ONLY the limited partners are protected though – unlike all limited liability companies! Therefore the general partners remain liable without limit!Why have an Incorporated Limited Partnership? (ILP) ILP’s were the direct result of the Commonwealth Government’s Venture Capital Act 2002 (Cth) to facilitate non-resident invest ment in Australia. The Act provides concessional tax relief!! This is restricted to those involved in venture capital investments AND REGISTERED under the Act. Limited Liability Issues Normal (unincorporated) limited liability partnerships do not provide VC with the certainty of limited liability as they are NOT incorporated and have no independent legal status. Formation of an ILPThey MUST be REGISTERED – in NSW the Registrar of Business Names. How to Register [s. 54 PA 1892 NSW] Must lodge an application with above signed by existing or proposed partners detailing: 1. that the partnership is to be registered as an ILP; 2. the firms name, address and principle office; 3. full name and address of each partner; 4. status of each partner i. e. â€Å"general† partner or â€Å"limited† partner; 5. for registered VCLP either evidence of registration or a statement outlining the intent; 6. anything else prescribed as required, under regulation or otherwiseOnce REGISTE RED an ILP is in most cases will be subject to the rules of the Corporations Act 2001 (Cth) regarding matters such as directors’ duties and the prohibition of disqualified persons taking part in management. Assumptions those dealing with an ILP are entitled to make: The PA 1892 NSW provides a number of assumptions that those who deal with an ILP are entitled to make (UNLESS they know or suspect that the assumption is incorrect! ) These assumptions are: 1. the Partnership Agreement has been complied with; 2. anyone on Register as a â€Å"general† partner has authority to perform duties; 3. nyone held out as a â€Å"general† partner in, or as agent of, an ILP is a â€Å"general†partner and has such powers/authority; 4. the â€Å"general† partners, and agents of, an ILP properly perform their duties to the ILP; 5. that a document executed by an ILP has been duly executed; 6. that a â€Å"general† partner in an ILP who has authority to issue a d ocument on its behalf has authority to warrant that the document is genuine or a true copy. How are ILP’s Regulated? Not governed by the general partnership rules! Most important perhaps is when it comes to joint/several liability.Partnership Act NSW provides that general law of partnership does NOT apply to ILP’s OR to the relationship between the ILP and its partners: s. 1(C) PA 1892 NSW. Partnerships & Companies – Generally The reason for the distinction between P and C is quite simple. A P is an ASSOCIATION of persons ACTUALLY â€Å"carrying on a business†. Together the partners decide what business will be carried on, they are usually entitled to get involved in the day-to-day operations and they are personally liable for the partnership’s debts and obligations. With C this is not the case.C are INDEPENDENT LEGAL ENTITIES WITH A PERPETUAL EXISTENCE. They obtain their funds from shareholders who are generally, both in fact and in law, passive i nvestors. The difference between P and C can be very important even in small closely held companies where the directors are also the company’s sole shareholders and operate like a P – the legal position is that they are not a P and therefore have NO right to be treated as such by the law. This can have very unfortunate circumstancesas in: Friend v Brooker (2009) The parties incorporated a company and they were equal shareholders.Brooker borrowed funds personally to help the business. The C later went into liquidation and there was not enough money to repay the loan. Brooker claimed that the C had merely been a corporate vehicle for a P between the two men and therefore P law should apply. Held : Brookers action failed. Court said he and Friend had taken a deliberate commercial decision to adopt a corporate structure for their business instead of operating as a partnership therefore no fiduciary duty owed. Advantages of Partnerships Simple and cheap to set up Can be sim ple and cheap to dismantle ConfidentialityParticipation in management and decision-making Flexibility Partners owe a fiduciary duty to one another Can be used to reward and retained skilled/valued staff Disadvantages of Partnerships Have no separate legal existence Continuity problems Limited numbers Capital may be more difficult to raise Unlimited liability Statutory Agency Partnership interests are not freely transferable Some Partnership decisions require unanimity Partnership In Tort [PA 1892 NSW ss. 10-13] The basic provision concerning the way in which tortious (and criminal) wrongs committed by a partner are to be treated reads as follows: where by any wrongful act or omission of any partner†¦. acting in the ordinary course of the business of the firm, or with the authority of the partner’s co-partners, loss or injury is caused to any person not being a partner of the firm, or any penalty is incurred, the firm is liable therefore to the same extent as the partner so acting or omitting to act†. Therefore, all partners will be collectively liable but that is not all. The PA 1892 NSW makes clear that partners’ liability is both joint and several s. 12 PA 1892 NSW – therefore the injured party can sue the whole firm OR partners that he chooses.If he sues only some of the partners – THEY WILL BE PERSONALLY LIABLE (they will also be entitled to seek a contribution from the other partners). If recovery in full cannot be obtained from the sued partners by the injured party they may later sue partners who were not sued for the shortfall!! Breaches of Contract – the partners are simply â€Å"jointly† liable for the firm’s debts and obligations so the injured party generally only gets one opportunity to sue collectively : Kendall v Hamilton (1879) – partners are â€Å"jointly† liable for partnership debts.To succeed the injured party must prove FIVE things: 1 . there was a wrongful act or om ission; 2. it was committed by a partner; 3. partner was acting in ordinary course of firms’ business or with actual or implied or apparent authority of his co-partners; National Commercial Banking Corp of Australia Ltd v Batty (1986) 4. injured party suffered loss or injury; 5. loss or injury resulted from the wrongful act or omission. Also see: Polkinghore v Holland (1934) – SEE ABOVE FOR FACTS AND DECISION