Funds: Hedge and Mutual- Who and What They Are Essay -- Finance Financ

Funds: Hedge and Mutual- Who and What They Are Ever since their creation in 1949 by A. W. Jones, hedge funds have been widely regarded as a unique and luring alternative to investing ones money. Some have seen them as a replacement to the well-known mutual fund- while others believe that they are an entirely new domain. Besides defining both the hedge fund and mutual fund, this paper aims to expose the answer to a deeper question: Are hedge funds REALLY different than a mutual fund, and if so, how and why? By comparing both financial intermediaries in the areas of structure, strategy, and their respective environments, it is my hope that I can unmask any uncertainties that may reside within these financial institutions. The most basic question that must first be answered in this type of paper is the most obvious: what is a hedge fund, and how or what is it made up of? Mishkin describes a hedge fund as a special type of mutual fund - which on a very basic level is correct. But here we must be careful, while mutual funds are referred to as â€Å"public† hedge funds are referred to as â€Å"private.† This opens a portal of regulatory issues between the mutual fund and hedge fund entities. Mutual funds, and there thousands of them in the United States alone, are among the most highly regulated financial intermediaries. Thus they are subject to a very large number or requirements that insure that they act in the best of interests of their â€Å"public† shareholders. To digress only briefly, it is important to mention the importance of regulatory enactments since the early twentieth century because they have an enormous impact on today’s companies. Four of the most influential acts include the Securities Act of 1933, the Securities ... ...r risk factors, but take bets on relative price movements utilizing strategies such as long–short equity, stock index arbitrage, convertible bond arbitrage, and fixed income arbitrage. Long–short equity funds use the classic A.W. Jones model of hedge funds, taking long and short positions in equities to limit their exposures to the stock market. Stock index arbitrage funds trade the spread between index futures contracts and the underlying basket of equities. Convertible bond arbitrage funds typically trade the embedded option in these bonds by purchasing them and shorting the equities. Fixed income arbitrage generally refers to the trading of price or yield along the yield curve, between corporate bonds and government bonds of comparable characteristics, or more generally between two baskets of similar bonds that trade at a price spread.† [Fung and Hsteh, p. 319-320]

Chattanooga Ice Cream Case Essay

The Chattanooga Ice Cream case shows a decline in sales for 5 consecutive years. The Division is headed by Charles Moore. Although Charles Moore was successful in leading teams he seemed to have major issues with this team of vice presidents. According to the Harvard Business Review Chattanooga Ice Cream Case the team was very dysfunctional; they exhibited a lack of trust, high in conflict, disrespectful of each other and exhibited avoidance issues with accountability. Team members seemed to always lay blame to other member. Moore needs to be more assertive in dismissing the ways of the past and the loss of Stay & Shop business needs to be put aside. Moore needs to give clear direction and assign responsibilities to each team member. Moore needs to convey that team cohesiveness is a must and this will go a long way to help ensure no further loss of business. This paper will examine how Moore’s leadership approach contributed to the teams’ dysfunction, discuss what the group of employees themselves could do to better understand the perspectives of each other and their boss as well as make recommendations about Moore should do now to help his team work together and manage conflicts more effectively. Why The Chattanooga Ice Cream Team Is Dysfunctional The Chattanooga Ice Cream team is dysfunctional for several reasons. Some of those reasons include an absence of trust, avoidance, and not being accountable. Also, there is a lack of commitment amongst some managers. Moore is also looking for buy-in from all members for group decisions. There was no clear cut rule as to how decisions were going to be made. Simply put Charles Moore failed to incorporate clear operating rules. Week Fours Lecture – Building High Performance Teams suggests that â€Å"when managers agree on ground rules in advance, the team are much more likely to run efficiently,† this is especially true with the Chattanooga Ice Cream team. The Wisdom of Teams states that â€Å"it is important to agree what will be done when people on the team do not share compatible views. † Agreements should be made about how decisions will be made, how will results be measured and incentive should be given for a team to work together. † The Wisdom of Teams also states’ that if you want a team to gel, you need to offer team-based rewards, not just individual ones,† no of these things took place thus resulting in the dysfunction of the team. The team also failed due to poor management and lack of cohesion. This is a classic symptom of what the Chattanooga Ice Cream Division exhibits. Leading High Performance Teams suggests that during the norming and performing stage, leaders shift focus away from tasks and towards relationships, they take time to develop members and support the efforts of the team members, this is where the leaders lead more than manage and this is the point where the team should coalesce. Although the team never began to coalesce it seemed as though Moore what operating in this level. Team Development The Chattanooga Ice Cream team members should began to perform exercises that would help them better understand the perspective of other team members and their boss. With guidance from Moore team members should began to â€Å"foster commitment. † The team should be aware of the benefits of working together to achieve common goals. Because there is a lack of communication members should start to exercise information sharing but prior to doing this they should focus on rebuilding trust. Researchers suggest that â€Å"Through interaction members are able to share information, generate, ideas and take part in decision making and problem solving. Team communication has been described as the backbone of a team’s existence and is the crux of the task and social dimensions, of all groups (Fisher, 1970; Tyson 1989). Tyson further states, â€Å"For a group to come to existence, organize itself, and develop into an effective team requires above all else good communication between members† (p. 77). Dickinson and McIntyre (1997) state that communication is the binding force foe all elements of teamwork actions, including team adjustment, leadership, advisement, response, support and planning. In fact, communication is considered among the most important forecasters of team performance. (Indian Streams Research Journal, Volume 3, Issue 3, April 2013)† This should be done individually with members what exhibit trust issues and then as a group. Team members should also make an inward and outward commitment to trust and when team members do openly trust, Moore should openly recognize them. Some behaviors that that indicate team members are rebuilding trust openness to others ideas, critiquing idea not the person, offer assistance, self-disclosure or admittance of ones faults, asking for feedback, etc. Some indications that team members have ot embraced commitment to rebuild trust are indifference, failing to keep confidence, withholding information important to decision making, lying, and withholding credit when it is due. Most importantly team members should make a commitment to be accountable. Most importantly because there have been a lot of name calling and probably even lies per the Human Resource Guide one of the most difficult ways to rebuild trust would be to admit that you lied, â€Å"If trust at work is damaged because you lied, you will need to admit you lied and apologize with honest, sincere, and unmistakable humility. No other solution will work to rebuild trust at work. Recommendations About How Moore Can Effectively Manage Conflict â€Å"Conflict is inevitable for leaders, and it exists at the root of some of their best ideas and at the core of many of their worst failures. † (Shearhouse, Susan) Moore should revamp his leadership style in a manner that would demand his team to coalesce as team members. Moore should first take a look at what his leadership/management style is and then see how best to manage this group of team members. Moore should be open about his failures and began to insist that team members follow suit. Moore should assign clear roles and responsibilities to each team member and hold them accountable when they fail to meet his expectations. According to Everything Disc Management Style, Moore should shy away from exhibiting steadiness style of management. This style leans towards being accommodating. Being accommodating leads towards being unassertive according to the Thomas-Kilmann Conflict Mode Instrument. Initially, Moore should adapt to the Dominance style of management resulting in him being direct/candid and firm. Moore should help his team set results-oriented goals. In â€Å"What Great Managers Do† by Buckingham, Moore should get to know each of his vice presidents and â€Å"discover what is universal and capitalize on it. † If Moore would lead this team by the following guidelines I believe he will be more successful at leading the team; Don’t â€Å"fear conflict; embrace it – it’s your job. † While you can try and avoid conflict (bad idea), you cannot escape conflict. The fact of the matter is conflict in the workplace is unavoidable. It will find you whether you look for it (good idea – more later) or not. The ability to recognize conflict, understand the nature of conflict, and to be able to bring swift and just resolution to conflict will serve you well as a leader – the inability to do so may well be your downfall. † (Forbes. com) Conclusion In order for the Chattanooga Ice Cream Division to be on the path to reclaiming its place Charles Moore is going to need to revamp his style of leadership and be assertive yet cooperative. Team members need to rebuild trust and be accountable to the mission and values of the organization. Team members must be forthcoming and offer assistance with appraising the ideas of other team members. Most importantly the channel of communication is going to need to be reopened. In terms of team management Moore needs to assert a Dominant Style of Management, take a step back and reform the team with clear directive and expectations, setup a team charter and hold team members accountable for faltering from his expectations. Once the team begins to perform as a team should, Moore should then move on and began to lead and incorporate different management styles. According to Managing When Spark’s Fly, â€Å"to manage conflict, you must work through it. Avoidance is generally not an option. † According to Rick Johnson, â€Å"A leader has to win the hearts and minds of his management team to create a common purpose. This doesn’t happen by accident. It depends on the values and beliefs that create the foundation for how the team works together. It is imperative the leader understands these values and beliefs. They may be unspoken and linger at the subconscious level, but they do affect individual attitudes. That is where the leaders communication skills become critical. †

Airbnb Marketing Strategy Essay

INTRODUCTION Airbnb, founded during the economic downturn of 2008, is one of many innovative businesses operating within the growing shared economy. Airbnb offers an alternative to the traditional hotel business and allows property owners, termed â€Å"hosts,† to advertise and rent their extra space, be it a spare room, apartment or treehouse. â€Å"Guests† search through the Airbnb website, read reviews and connect with hosts to find less conventional and, often more, affordable lodging. Key to Airbnb’s business success is establishing a framework of trust on which both hosts and guests can rely, a system Airbnb has developed through a strong marketing strategy and through specific practices that support host and guest throughout the rental process. Building this framework of trust in the system is a focus not just for Airbnb, but is also typical of a company operating in the new sharing economy. WHAT IS THE SHARING ECONOMY? The sharing economy is a new economic opportunity for customers to access goods whenever they are required at that moment – with access trumping ownership. For example, if a person only uses a car once a month, they could rent a car from a sharing economy company like ZipCar instead of paying a monthly car payment for a car they barely use. Following the economic recession, many Americans have become less wasteful in using their economic resources. In addition, more Americans are expressing an interest in being more socially conscious of green initiatives and other social responsibilities (Neilson). These trends have resulted in a new focus on shared resources. Beyond just the economic benefits, goodwill and community building are important drivers of the sharing economy. Today, people who feel the burden of the current economic period may prefer to rent or sell to their peers instead of giving their business to major corporations. Furthermore, the Consumer-to-Consumer (C2C) business model is allowing many individuals to exploit their own resources to gain additional income without the high startup costs and long-term commitment for business sustainability. Although the idea of sharing is an old idea, the ability for sharing to generate profit is relatively new. The sharing economy is greatly influenced by online commerce and social media. Online commerce has made it easier for  peers to share their goods and services with one another using trusted financing services through websites such as PayPal. Social media has helped spread the economic and personal benefits of the sharing economy and has served as the fundamental marketing tool for the growth of countless collaborative consumption companies. Companies functioning primarily in the sharing economy consistently urge their users to share their experiences via Facebook, Twitter and other social networks. These social platforms have become so integrated in w eb transactions that once a customer has confirmed or paid, they are prompted to immediately post their money-saving or moneymaking success directly to their social media page of choice. Also referred to as collaborative consumption, the social economy follows the idea that people will first use what they have, borrow, swap, make and thrift items before they actually buy something brand new (Anderson). The marketers of these sharing economy companies primarily target a few segments but are constantly expanding. Urban areas and members of the X and Y Generations are key demographics for the sharing economy. Demographically, the majority of sharing economy companies will target Generation Y due to their concern for environmental and social issues that influence their decision to save and reuse resources (Kotler, Philip, and Kevin Lane Keller, Chapter 8). Statistics show that the newest generation of adults buys fewer houses and fewer cars than its predecessors (Ciccone). Furthermore, Generation Y is attracted to unconventional practices such as the sharing economy and is highly social, able to spread the word. Generation X is more likely to be those who are renting out their goods and services. As Generation X has more responsibilities, they enjoy the extra income that helps them finance their obligations, such as children and paying a mortgage. People are collaborating informally in their communities out of both necessity and as a lifestyle choice. A sharing economy company should concentrate on branding, networking and experience to ensure its success (Olson). Branding is key because sharing economy companies want consumers to have confidence in their brand. The sharing economy is at an advantage, being relatively new with a market that is interconnected through online commerce and social media. Outside of spreading the work, a sense of community is built within the network. Finally, a sharing economy company has to concentrate on customer experience. Customers are looking for ease of  use and product value. When these desires are met, consumers will return to use the service as well as recommend it to others. One very successful example of a company with the sharing economy employing these factors is Airbnb, who in less than a decade has built a major competitor to the centuries old hotel industry. WHAT IS AIRBNB? Brian Chesky and Joe Gebbia founded Airbnb in San Francisco, when they began renting out airbeds in their apartment to people attending a local conference to generate additional income in 2008. The early business model for Airbedandbreakfast.com, later renamed Airbnb, focused on large conferences such as the Democratic and Republican Conventions, which created bustling business in the 2008 election year. In 2009 the founders, now including Gebbia’s former roommate and tech wiz Nathan Blecharczyk, received $600,000 in seed funding from Sequoia Capital. In that same year, acknowledging that renting to complete strangers made many people uncomfortable, Chesky and Gebbia flew to New York City, home to many of their users, to meet with hosts in person and survey for potential improvements. This was an unusual strategy for an internet company but it later proved to be profitable. Over the next two years, Airbnb made several key strategic changes that gave it direction and force in the marketplace. Of particular note was the establishment of Airbnb’s broker’s payment model and the decision to bring in professionals to photograph host homes. By the end of 2011, Airbnb had gone international and reached critical mass (Geron). Forbes estimates that Airbnb likely lost money in 2012 in favor of accelerating growth, a hit the company could withstand due to the influx of capital from various Silicon Valley venture capital firms (Geron). Their market penetration is comparatively strong, according to Tech Crunch, with Airbnb’s booking expected to have surpassed that of Hilton in 2012 (Empson), and hosts renting to an estimated 2.5 million people according to the Economist (â€Å"All eyes on the sharing economy†). The Wall Street Journal valued Airbnb at $2.5 billion in October 2012, and Privco projected their revenues for that year to be at $180 million (Melby). In exchange for customer support, website maintenance and various insurance and security features, Airbnb employs a broker-style payment model, taking a portion of  the rental price between 6% and 12% from the guest, depending on the property price, and a 3% service fee from the host (Geron). Airbnb has come into its own financially, while still maintaining an identity that, though not especially anti-corporate, is certainly fresh, young and innovative. From the company logo, with its big, curly lettering and informal design, to its emphasis on direct interaction with potential users, Airbnb has built its brand for the generation inspired by innovation. The motto â€Å"travel like a human† emphasizes the difference between the traditional, impersonal, corporate travel experience and the opportunity Airbnb presents to users to build their personal networks with hosts in far off places, at a lower cost. As is perhaps to be expected with an internet company, Airbnb relies heavily on social media to create and perpetuate its brand identity. A key aspect of the company brand is the travel experience. They post a â€Å"traveler of the week† on their Facebook, Twitter and Google Plus pages, and recently concluded a photo contest using Instagram, with Airbnb travel credits as the prize. While the choice of prize may be a bit opportunistic, the interactive concept to use the mainstream photo-sharing app, and the reward both fit well with the Airbnb brand and kept the focus on travel rather than profit motive. Naturally, travelers’ blog posts that mention Airbnb, whether they focus on the company or simply mention it in p assing, are often promoted through â€Å"re-tweets† and posts on the Airbnb blog. The experience of travel is only one facet of a company identity that is as carefully well-rounded and appealing as its users. Airbnb also emphasizes its interest in the popular local movement with its â€Å"Living Local† shows, a part of its â€Å"AirTV† series. Each online episode features a tour of a unique Airbnb host property, and interviews with the generally personable host or hosts. Beyond that, Airbnb is aware of the appeal of its unique and tech-centric business model to engineering and tech nerds. The company provides content catering directly to this audience through its specific engineering blog – nerds.Airbnb.com – and its Tech Talk YouTube series, where young tech enthusiasts present on innovative new technologies and how they can and are being harnessed to build businesses (YouTube). These videos, generally around an hour in length, provide an in-depth review of current technological and business innovations. Airbnb also uses social media to associate itself with other organizations, not unlike cross branding, which  establishes Airbnb as culturally present and economically innovative while also eliminating the costs of a major advertising campaign. Their Facebook page, for example, lists SXSW, TED, Virgin America, Lonely Planet and Business Punk as organizations that Airbnb â€Å"Likes.† Each of these associations strengthens their brand – Virgin America connects them to another untraditional travel company and to Virgin’s maverick CEO, Richard Branson, whose appeal to young professionals has made him by far the most followed â€Å"Influencer† on professional social media site LinkedIn (â€Å"LinkedIn Today: Top minds, big ideas†). Similarly, their public association with SXSW reveals a cultural affinity in line with that of their clientele, and functions in tandem with the demand for lodging during the festival, to which Airbnb has dedicated a specific section of their site. Through these efforts, the company has branded itself as young, innovative and culturally and technically savvy—all traits that exist outside of its travel-focused revenue stream, but which are inherently appealing to the clientele, both hosts and guests, on which Airbnb relies. AIRBNB FOR GUESTS Airbnb’s business model focuses on consumer-to-consumer (C2C) transactions based on trust. Its model is similar to the popular C2C marketplace of eBay where buyers and sellers engage in transactions that are each evaluated by individuals for their level of risk on the basis of detailed profiles, history, product, price and other resources. However for Airbnb, the relative level of investment for guests and hosts is significantly higher on a per transaction basis. Travelers are risking their vacation experience, safety and in most cases, a relatively higher dollar value than a single product purchase. Hosts are offering their homes, their personal privacy and their own safety, as well as their living experience for the time that their place is secured by a guest. With these personal investments in mind, the success of Airbnb’s ability to instill confidence, trust and safety throughout their network was critical to the success of the company. Airbnb’s roadmap to build safety and security for their renters includes a private messaging system that allows users to learn about each other prior to booking while holding private information to be disclosed at a later time. Another system is Airbnb’s â€Å"verified ID† badge where users will  register their social networks such as LinkedIn, Facebook, Airbnb reviews and official documentation from their photo ID and/or passport. With the verification of all of these resources matching up, those users will receive a â€Å"Verified ID† badge with their account information demonstrating to other users that their identification has been vetted. In April of 2013, Airbnb began randomly selecting users to complete this profile and expect to have this expanded worldwide for all Airbnb members in the near future. Over the last two years, Airbnb has made efforts to increase their resources to expand security and sustain the trust in the marketplace by doubling the size of their customer support staff with 24Ãâ€"7 support, creating a dedicated Trust & Safety department and designing tools to verify user profiles and facilitating richer communications between guests and hosts prior to booking. With these basic features, the usability, consistency and accessibility to hosts and the Airbnb support team continue to be critical characteristics to Airbnb’s service roadmap. Although, when travelers are â€Å"shopping† they also have the responsibility of maximizing their use of these tools and take care in evaluating their own transaction risk by perusing host profiles, reviews, social networks and even connecting with their host on a regular basis. AIRBNB FOR HOSTS Hosts are just as much Airbnb’s customers as guests so while they must inspire guests to stay in an individual’s residence, Airbnb must simultaneously inspire trust and confidence in the Airbnb model for hosts. Airbnb’s actions and interactions with hosts and potential hosts are meant to project an image of control, confidence and community for the host, with a particular focus on doing so administratively, financially and socially. To simplify and centralize the hosting process, Airbnb manages all the administrative functions of becoming a host, which provides a support system and protection for the host and his or her property. Rather than having hosts build a new website for their rental, the site is already created (in multiple languages and currencies) and all he or she must do to get started is create a profile. Airbnb has a free customer service team to help first-time hosts understand the process. While Airbnb makes it clear on their website that understa nding tax and legal status for hosts is the  responsibility of the host, Airbnb provides reference documents and answers to common questions on their website. Although Airbnb maintains the site architecture, hosts are in complete control over the rental price, amenities and house rules. Airbnb in some cases will even offer free professional photography for host properties. A secure online payment system is built into the website to guarantee complete, on-time payment directly to the host (â€Å"Why Host†). Hosts are essentially allowing a stranger into their home (or boat, treehouse, etc.) so a sense of control is key for their confidence in this model. To do so, Airbnb creates systems to offer protection to hosts’ persons and property. Hosts have total control over who rents their listing. A potential guest puts in a reservation request through the online system and then the host has 24 hours to accept or decline the request. During this time the host and potential guest can communicate through the website communications system and reference the aforementioned â€Å"verified ID† system. However, the rental address is not given out until the owner accepts the guest and hosts also have access to the 24-hour customer service hotline (â€Å"Trust†). Since most hosts are renting primary residences or rooms, protecting against potential damage is much more important than if this was a hotel or business. While normal renters’ or homeowners’ insurance is the responsibility of the host, in 2011 Airbnb launched its â€Å"Host Guarantee† property protection program. In May 2012, it took insurance underwritten by Lloyd’s of London to extend the Host Guarantee to up to $1 million in property damages. This covers guest damages beyond the scope of â€Å"reasonable wear and tear† in 23 countries. No additional cost or actions are required for the host to have this protection (â€Å"Guarantee†). The financial incentive is a key reason people become hosts. In a survey of members of Airbnb in San Francisco in November 2012, over 90% of hosts rented their primary residences to visitors and spent almost half the income they made on living expenses (Lawler). To encourage more people to become hosts and to support existing hosts, Airbnb also focuses on facilitating the financial aspects of renting. Firstly, it is free to create a listing using Airbnb. For online payments, the guest submits payment and once the reservation is accepted Airbnb processes and collects the payment in full. Airbnb holds the payment until 24 hours after check-in (and after the guest-host walk through). This helps uphold host cancellation policies and provides a neutral third-party  for financial exchange. The Airbnb website also facilitates cleaning fees which are held until the property is vacated. The secure payment of fees and usage is a key way Airbnb builds confidence for hosts in addition to the social and cultural aspects of hosting. While the first reason most hosts decide to rent their space is financial, another reason is a desire to meet new people, show off their city and be part of the shared economy. Airbnb allows hosts to rent out primary and secondary residences, but 50% of hosts rent private rooms in their residence while they are there (â€Å"Life†). On the Airbnb site, there are numerous forums and guides for people to learn about becoming a host, exchange ideas and form a deeper community within the sharing economy. The social community built in Airbnb, plus the financial and administrative support systems, encourage new and repeat hosts to open their homes and lives up to the world because they trust in the brand and system created by Airbnb. NEXT STEPS Airbnb’s success did not come without the expected growing pains of any startup company, and especially one commanding a dominant market share in the new sharing economy. While its impact on the tourist trade, individual income, revenue to small businesses and economic stimulation are remarkable, the personal price some individuals have had to pay using Airbnb’s service is important not to overlook. From city-issued sanctions to individuals violating lease regulations, to vandalism of personal property and identity theft, the safety, benefits, opportunity costs, and sustainability of Airbnb’s service has been questioned in the media. To alleviate some of these concerns and remain a viable business, Airbnb should examine these obstacles in an effort to institute awareness through its community. They can continue to find ways to provide a more comprehensive and scrutinized ID verification process for all of their users to minimize the existence of bad apples. The level of care that hosts place on evaluating their individual transaction risk and understanding of regulations specific to their city has a direct impact on their safety and success as an Airbnb host. Through consumer forums, hosts, guests, and potential consumers and guests can communicate on a network to learn from their peers. Airbnb should also consider expanding the countries covered and the items covered under the  Ã¢â‚¬Å"Host Guarantee† to increase host protections locally and internationally. Moving forward, Airbnb has to be conscious of the popular pitfalls fellow sharing economy companies have faced. In a Campbell Mithun study, consumers were concerned with the following, in descending order: What I lend could get lost or stolen, I might not trust others in the network, my privacy might be compromised, sharing is not worth the effort, and the goods or services might be of poor quality (Olson). As described above, Airbnb has taken necessary measures to help defe nd the safety and privacy of its host and guests. However, as the sharing economy evolves, this could get more difficult and new safety concerns can arise that Airbnb will need to resolve quickly. Collaborative consumption represents a major economic, social and cultural shift as it moves out of infancy and toward acceptance. These companies need to find the balance between the potential of the sharing economy and the standing regulation of the government. The current brick and mortar companies that are participating in highly-regulated industries like hotels or rental cars now have to compete with services that do not go through the same rigorous levels of inspection or qualifications to ensure public safety (Lawler). Sharing economy companies could make a solid argument for self-regulation. Airbnb should take care that they currently have the proper management to ensure there are no nefarious parties in their business dealings and that their brand is strong enough to self-regulate (Lawler). For a well-rounded approach, shared economy companies should look towards or at least be aware of how the government may impose regulations to see how they might help or hinder Airbnbâ₠¬â„¢s progress. There will come a time when companies like Airbnb will need to defend their unconventional and minimally regulated services, and should now put into place a team that can defend them. Lobbying municipal and state governments in high usage areas is a more traditional but still relevant area for Airbnb to protect its business model and by extension its users. The greatest advantage that collaborative consumption has when defending their stance to the economy is that they exist to help people in their communities to meet their goals (Metcalf, Warburg). These companies need to leverage their community-based benefits as a way to gain support and appeal to those wanting greater government intervention. Preparation and understanding of user needs, government regulations and economic trends will bridge the nascent shared  economy into a strong, sustainable economic force. Therefore, if Airbnb continues to focus on building a brand that consumers can trust in and created mechanisms to support hosts and guests then it can be a durable, profitable company for years to come. WORKS CITED Airbnb. YouTube. Web. 27 June 2013. https://www.youtube.com/user/Airbnb Anderson, Lauren. â€Å"Collaborative Consumption Directory – Visualized.† Collaborative Consumption. Collaborative Consumption, 30 May 2013. Web. 01 July 2013. http://www.collaborativeconsumption.com/2013/05/30/collaborative-consumption-directory-visualized. Ciccone, Alicia. â€Å"The Sharing Economy.† The Huffington Post. TheHuffingtonPost.com, 05 Sept. 2012. Web. 01 July 2013. http://www.huffingtonpost.com/2012/09/05/the-sharing-economy_n_1857201.html Empson, Rip. â€Å"CEO Brian Chesky Says Airbnb Will Be Filling More Room Nights Than All Hilton Hotels By The End Of 2012.† TechCrunch., 12 Dec. 2012. Web. 29 June 2013. http://techcrunch.com/2012/12/12/cloudera-ceo-mike-olson-by-december-31st-airbnb-will-be-filling-more-room-nights-than-hilton-hotels/ Geron, Tomio.†Airbnb and the Unstoppable Rise of the Share Economy.† Forbes, 11 Feb. 2013. Forbes. â€Å"Guarantee.† Airbnb. Web 30 June 2013. https://www.Airbnb.com/guarantee Lawler, Ryan. â€Å"Airbnb: Our Guests Stay Longer and Spend More Than Hotel Guests, Contributing $56M to the San Francisco Economy.† Tech Crunch. 9 November 2012. 30 June 2013. http://techcrunch.com/2012/11/09/airbnb-research-data-dump/ Lawler, Ryan. â€Å"Balancing Innovation And Regulation In The Sharing Economy.†TechCrunch. Crunchbase, 9 Dec. 2012. Web. 01 July 2013. http://techcrunch.com/2012/12/09/balancing-innovation-and-regulation-in-the-sharing-economy. â€Å"Life† Airbnb. Web 30 June 2013. https://www.Airbnb.com/life â€Å"LinkedIn Today: Top Minds, Big Ideas.† LinkedIn.com. Web. 29 June 2013. http://www.linkedin.com/today/influencers?trk=tod3-top-nav-filter Kotler, Philip, and Kevin Lane Keller. â€Å"Chapter 8 Identifying Market Segments and Targets.† Marketing Management. Upper Saddle River, NJ: Prentice Hall, 2012. Melby, Caleb. â€Å"Who Will Get Rich from Sky High Airbnb Valuation?† Forbes. Forbes Magazine, 19 Oct. 2012. Web. 27 June 2013. http://www.forbes.com/sites/calebmelby/2012/10/19/peter-thiel-may-invest-150-million-in-airbnb-at-2-5-billion-valuation/ Metcalf, Gabriel, and Jennifer Warburg. â€Å"A Policy Agenda for the Sharing Economy.†SPUR.com. The Urbanist, Oct. 2012. Web. 02 July 2013. http://www.spur.org/publications/library/article/policy-agenda-sharing-economy. Olson, Kristine. â€Å"Campbell Mithun.† Campbell Mithun. 8 Feb. 2013. Web. 01 July 2013. http://www.campbell-mithun.com/678_national-study-quantifies-reality-of-the-sharing-economy-movement. Temple, James. â€Å"Google Places Draws Complaints from Yelp, Others.† SFGate. San Francisco Chronicle, 29 June 3011. Web. 27 June 2013. http://www.sfgate.com/business/article/Google-Places-draws-complaints-from-Yelp-others-2352896.php â€Å"The Globally, Socially Conscious Consumers.† The Global, Socially Conscious Consumer. Nielson, 27 Mar. 2012. Web. 01 July 2013.

How Does Walker’s Use of Imagery and Symbolism?

In â€Å"The Colour Purple,† Alice Walker uses symbolism, and imagery to affect the reader’s interpretation of the novel through very complex themes of religious influence, oppression and emotion developed from these literary devices. This has a profound influence on the reader’s interpretation of the novel as it suggests certain opinions and points of view to them as well as giving them deeper insight to the emotions of the protagonist In â€Å"The Colour Purple† a strong theme of religious influence and interpretation is developed through use of symbolism and imagery.The fact that the letters are initially addressed to God, an entity in whom the protagonist strongly believes, has a significant symbolic impact on the novel. When Celie’s mother asks where her child came from she says â€Å"Its God’s† when clearly, it is her father’s child. The elliptical choice of â€Å"God† as the father of the baby is symbolic, and show s that the power her Pa wields over her makes him a God-like figure to her. This is ironic the semantic field of the word â€Å"God† holds connotations of an all-powerful and infinitely benevolent entity.The irony of this is that whilst the true father of the baby, her â€Å"Pa†, holds a great deal of power over her, he is portrayed as anything but benevolent. If anything, he is more like Satan as he is seemingly the source of all the deplorable aspects of her life. This evokes a great deal of pathos from the reader and also antipathy towards her father. This clearly Illustrates for the reader who the protagonist and antagonists of the novel are Later in the novel, this symbolism is continued as the protagonist’s perception of God is explored through her dialogue with Shug Avery.Soon after discovering that her sister is still alive, she becomes frustrated and against the idea of praising God, exclaiming â€Å"What God do for me? † This is a typical reacti on of people who have suffered in life to the concept of God. This anger she feels towards God for letting her suffer so much is a manifestation of all the anger she feels towards all the people who have wronged her in life. This further manifests itself when she decides, â€Å"She don’t write God no more† as she blames him for giving her a hard life.She also decides that God is a man, something that is of extreme significance as Celie attributes all of her life’s troubles and problems to men, and their mistreatment of her. She confesses to Shug Avery that she sees God as â€Å"Big and old and tall and greybearded and white† This perception of God is a fairly common one, along with the â€Å"white robed† and â€Å"barefooted† idea. Then Shug outlines her perceptions of God, and church, ideas that are not so common. Her ideas are extremely interesting; she says she never found God in church, and any God she found she â€Å"brought in† with her.The effect this has on the reader forms very strong empathy with the protagonist, as the thoughts she is having are very relatable. It also makes the reader question their own perceptions of God, thus making this novel seem to be a very philosophical one. With Shug’s help, Celie comes to see that God isn’t a bearded white man, he is â€Å"Everything†, he is in nature, people, the sky and all that is good. This is most strongly illustrated in the final letter of the book which she addresses â€Å"Dear God. Dear stars, dear trees, dear sky, sear peoples.Dear everything. † The syntax of those sentences as a list illustrates further that she sees God in everything that is good and beautiful. This shows that she has come back to God and her perceptions have changed dramatically. This symbolises the end of a journey as Celie comes to accept God once more and it also symbolises that fact that she has moved on with her life and is finally happy. She†™s also This creates more empathy from the reader who feels joy for the protagonist as well as showing that she has overcome her hardships.Overall this idea of a journey creates a sense of this being a very biographical novel. The fact that it is in epistolary form makes the novel much more personal and relatable for the reader. When Celie leaves Mr. __ she finds her inner self and gains a lot more personality. At the beginning of the novel, she never mentions her emotions, just physical feelings. This is symbolic of the fact that in her oppression, she was just surviving rather than living. She was very much a shell, her body existed but her inner spirit was suppressed greatly.The first time emotions are brought in are when Celie discovers that her sister is still alive. Her break from oppression to become her own person is symbolised by the pants. The making of pants is theraputic for her, she claims she â€Å"aint been able to stop† after she started. This is the first t hing shes ever chosen to do herself so they are symbolic of her newfound independence. Also in that society, pants were considered to be a men’s item of clothing, so the wearing of pants by Celie and Shug is symbolic of their fight against sexism and the patriarchal society.The fact that she starts to make money from the pants furthers the idea of independence. The effect on the reader of this is it gives an idea of this being a very political novel and being about a struggle for freedom. The colour purple is a regal colour representative of affluence and the good things in life created by God for the people to enjoy. At the beginning of the beginning of the book, Celie has no sense of the colour purple, she has a terrible life in which she is just surviving rather than really living. The lack of emotion at the beginning clearly shows this.As a result, she doesn’t have the capacity to sense the colour purple, she cant appreciate the simple beauty of life and nature as her conditions are so oppressive that she cant see any good. Shug helps her to see the good in life when she shows Celie that God is in everything and telling her to â€Å"relax, go with everything that’s going and praise God by liking what you like. † This overall analysis of God and the form In which he exists prompts the reader to question their own view on God, especially the way in which society depicts him and his laws.

Practical 6-Liquid preparations Essay Example | Topics and Well Written Essays - 250 words

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Self esteem issues that arise for adults who have returned to edcation - Essay Example Adult education is a serious effort made by government and voluntary agencies to provide a platform for the adults to improve their educational qualifications. It provides them a wide option of educational curricula, designed to utilise their increased knowledge and enhanced skills so that they can better rehabilitate in their social environment and improve their job prospects. Adult education also facilitates and provides a challenging atmosphere for the people who wish to diversify and follow a career in new areas. It therefore becomes all the more important that adults who wish to further their educational qualifications, are made to feel comfortable in an academically challenged atmosphere, without any embarrassment or other such psychological impediments. We would, thus, be taking the role of self esteem of the adults, who wish to pursue education in a changed atmosphere. It is seen that adults who are intending to either resume their education or the one who embark on adult literacy for advancing their careers, are faced with multitude of psychological problems which might hinder with their fair intentions and goals. Issues of self esteem are major impediments for a smooth adult education course because adults who convince themselves for the course are still sensitive to public comments and outlooks which may frown upon or look down on their endeavours as mere whims and wastage of good money on a lost cause. The main aim and objectives of the study are to find ways and means of providing people with incentives so that adults, who have had to leave their education for one or the other reasons, are able to resume their education with fresh zeal and motivation with higher self esteem. It is equally important that due consideration be given to their status as adults who have other priorities, so that they are not forced to compromise with their self esteem and ego, and as such, it is imperative to