Value Proposition Essay Example | Topics and Well Written Essays - 1000 words

Value Proposition - Essay Example For the reason that no company or product was developing a Catalogue app, a Smart Interface Solutions has registered the Catalogue app, a cheap and easy in use and setup mobile Micro Enterprise Resource Planning, the product will be good idea for the small business. The product will be available on any smartphone as a powerful and smart inventory management tool. The interface will use the smartphone technologies such as camera, GPS, accelerometer and Bluetooth. The Catalogue app is a highly adaptable inventory management and tracking app, the primary target audience is the traders and small entrepreneurs focused on the stock management system with the easy interface. While, small enterprises do not have access to he significant finance for specialized hardware, the product will be a solution in this area. In terms of user interface and configurations, they are functionally identical with the larger desktop variants within the same software. The main benefits for the customer is the efficiency, ability to save user’s time, accuracy of the data received, ability to make an analysis of the data and reduction of task repetition processes. In terms of costs, the product will not cost much; customers will be able to train when using the app. It will allow customers to configure and manage their software on the computer of the usual size through the available software. An app will give a possibility to design that information which user wants. Such opportunity is one for the purpose to make Catalogue adaptable to all applications.

An Investigation of the Gender Gap of Boys Underachieving in Literacy Essay Example for Free

An Investigation of the Gender Gap of Boys Underachieving in Literacy Essay The purpose of this study was to investigate the gender gap, especially of boys’ underachievement in literacy, and discover if there are particular strategies that schools can implement in order to raise the attainment levels of boys. As the issue of the gender gap is so wide I selected literature to review which covered a wide range of theorists and existing studies. Specifically I wanted to identify some of the suggested causes for the underachievement of boys and any already proposed effective strategies which I could execute in my own study. The data I collected from the study was both qualitative and quantitative in order to give a more valid outcome; these included an open-ended, semi-structured interview, which I felt would enable the respondent to provide a wider range of ideas; questionnaires, observation and existing data. The results showed that there is in fact a close correlation between boys who do not read for pleasure/enjoyment and boys who underachieve. However it also showed that there are specific strategies that can be applied to meet the learning needs of boys in order to raise their achievements. However due to the scale of the topic this small study cannot provide a definitive outcome for the causes and solutions of boys literacy, it has merely suggested some probable reasons for and some possible remedies. HYPOTHESIS During the past twenty years there have been rising concerns over the achievement gap between boys and girls, particularly with boys underachieving in literacy. The aim of this investigation is to identify if reading is the main factor for the achievements of boys in literacy, or if there are other strategies that can be implemented to raise the attainment levels of boys and therefore close the gap. To complete this study, I will undertake the investigation at an all boys’ school (for ethical reasons of anonymity, the school will be known as School A) located in a leafy suburban area in the North West of England. School A is a high achieving school compared to other mixed and same sex schools in the Local Area. The current Head of English (HoD) is driven, ambitious and highly motivated towards pupils’ achieving the best results possible. During the research I expect outcomes to show that there is a correlation between high achieving boys and enjoyment of reading for pleasure. I also expect to find that particular classroom strategies can effectively impact the attainment levels of boys, particularly in those who do not read for pleasure. LITERATURE REVIEW In 1993 Ofsted reported that boys do not perform as well in English as girls (cited in Bearne, 2004), and more recently the National Assessment of Education Progress (2009) has found that ‘female students consistently score higher than boys on average in both reading and writing’ (Watson et al., 2010: 356). However this concept is not a new one; researchers for the Gender and Education Association noted that in the 1950s and 1960s the pass rate for the eleven plus examinations, taken by almost all eleven year olds at this time, were different for boys and girls; Epstein et al. (1998 cited in Watson et al., 2010) claims that the pass rate for boys was lower than girls because girls supposedly matured earlier than boys. Gareth Malone, writing for the Telegraph in September 2010 stated that nationally ‘boys lag behind girls in reading by 6 percentage points and in writing by 15 percentage points’ (Malone, 2010). Despite this, Gorard (2001, cited in Malacova, 20 07) believes that, the panic about the gender achievement gap is exaggerated; he blames the concept on lack of sufficient data, which until recently had not been available, and believes that a lot of the assumptions regarding boys underachievement is based on statistical misinterpretation. Gorard (2001, cited in Malacova, 2007) conducted the first UK analysis of national data set over a six year period; he found that the gap only appeared amongst high-ability pupils and that the number of boys and girls failing exams was similar. His conclusions found that the gender gap was, if anything, decreasing. Regardless of Gorard’s (2001) analysis, there are many who still feel that the performance gap is a concern. In 1993 the Ofsted report offered some insight into differing perspectives and explanations for boys’ underachievement, including the lack of male literacy role models, classroom strategies, curriculum literacy content, perceptions of behaviour, social class and ethnicity (cited in Bearne, 2004). Solsken (1995, cited in Bearne, 2004) added to this list claiming that literacy is associated more with females and femininity and believes that this possibly has a negative effect on boys and their attitudes towards reading. Solken’s (1995) argument links very closely with Watson et al.(2007) who proposed that popular explanations often focus on boys’ ‘biological make-up’. They claim that evidence shows that ‘hegemonic masculinity is central to the struggles boys face as literacy learners’ (Watson et al. 2010: 357). Rowan et al (2002) also believes that ‘boys are biologically different to girls and that this biologically difference is the cause of behavioural differences’ (Rowan et al. 2002, cited in Watson et al. 2010:357). He believes that due to these biological differences, boys and girls are defined by inherent masculinity and femininity characteristics and in order for educational success this must be acknowledged and accommodated for. This is an important assertion to consider for this particular case study; due to the domination of boys in School A it is important to understand how masculine characteristics are catered for in an all boysâ€⠄¢ school. One of the suggestions to improve literacy for boys is to make education more ‘boy friendly’ by including more reading materials that boys enjoy, such as action and graphic novels, which will motivate boys to read. Hornton (2005) believes that adolescent boys could rediscover the magic of books by using texts that appeal to their interests. Young and Brozo (2000, cited in Brozo, 2010) deem that encouraging boys and actively helping them to find access points into literacy and reading should be made priority by teachers. During this particular study the idea and notion of actively promoting literacy through any route possible is addressed by School A’s English department head in the interview, and shows that it is essential for boys be aware that reading does not have to be confined to specific genres and authors. Furthermore Cole Hall (2001, cited in Taylor, 2004) claim that boys read less fiction than girls, preferring to opt for texts that contain more facts and less narrative, such as magazines or texts that are analytical. Similarly Millard (1997) claims that boys tend to opt for genres such as action and science fiction whilst reading as little as possible in school that they think they can get away with. Due to these preferences, boys’ are at a disadvantage in academic literacy as their motivation towards school texts and curriculum texts is affected. Probst (2003, cited in Taylor, 2004) believes that if boys are to engage with reading, the texts that they are asked to study need to be significant to them. In other words it seems that in current literacy education, there is not enough stimulating material which addresses the needs or interests of boys. Millard (1997) relates the findings of boys’ apparent lack of interest in reading as significant to low achievement in English, while Holland (1998) attributes lesson style and strategies as some of the other causes for underachievement. Both of these arguments are valid for this particular study and will be investigated further by studying the reading habits and the predicted GCSE grades of boys in a high set and a low set, and by exploring particular teaching styles implemented in School A. Holland’s study (1998) showed that boys can spend any amount of the day, stemming from 25 percent up to 75 percent, passively listening to the teacher rather than actively engaging. When trying to reason why boys had a tendency for this she found that the boys preferred lessons which were practical, had a range of different activities (such as personal research, groups work or discussions), or involved competition. If boys are passive during English lessons they are not learning the essential literacy skills required to help them achieve results. Taking this into consideration it seems then that pedagogical practice needs to be addressed. Taylor (2004) suggests that teachers contemplating their own practice could reflect on whether they are meeting the individual learning needs for each boy through learning pace and style, and innovative strategies which build on boys’ existing interests to maximise their potential, development and emotional needs. Pollack (1998, cited in Taylor, 2004) agrees with this theory suggesting that numerous opportunities should be presented to boys for hands on, interactive learning. METHODOLOGY My approach to research was identified by the nature and context of the question. After considering the purpose and desired outcomes for the investigation I decided that the research would take the form of a case study, incorporating a combination of both qualitative and quantitative data to ensure validity and reliability; ‘qualitative methods may supplement the findings by identifying gaps from the quantitative study’ (Bryman Bell 2007:650). The decision was made to collect evidence using a multi-method approach including interviews, questionnaires and analysis of existing recorded data. According to Gillham (2000) ‘different methods have different strengths and different weaknesses’ (Gillham 2002:13), and so ‘triangulation to strengthen your findings’ (Greetham 2009:184) was implemented to strengthen the validity of the study. To form part of the qualitative data I arranged an interview with the head of the English department. The purpose of the interview was to gain a deeper understanding of the context of the department and of the strategies which have raised attainment and achievement within the subject. Jones (1985) claims that ‘In order to understand other persons’ constructions of reality, we would do well to ask them and to ask them in such a way that they can tell us in their terms (rather than those imposed rigidly and a priori by ourselves)’ (Jones cited in Punch 2009:144). Taking this into consideration I decided that the interview should be open-ended and semi-structured for flexibility; Cohen et al. (2007) claim that semi-structured interviews gather ‘more intangible aspects of the school’s culture, e.g. values, assumptions, beliefs, wishes, problems.’ (Cohen et al., 2007:97). A semi-structured interview then would enable me to gather more in-depth information regarding the Head of Department’s ideas and beliefs surrounding School A’s succe sses. To understand boys and literacy, and whether reading habits have an impact on GCSE results, a questionnaire was compiled to collect primary data and distributed to a top set and a bottom set year 11 English class. According to Gillham (2002), questionnaires are not typical of case study research; however they can be used to obtain simple, factual information. For the purpose of this part of the study I felt that a questionnaire was a practicable way to acquire important facts regarding the reading habits of a group of high ability boys and a group of low ability boys. These would then be compared to analyse and identify any correlation between reading habits and English predicted exam results using samples from the furthest range on the ability spectrum. During the research I also decided to collect additional data through participant observation. The aim of this was to gain an ontological perspective of the pupils enabling me to observe interaction, relationship and actions performe d by pupils. I felt that this would help me to make sense of the data collected in both the interview and the questionnaire. In regards to validity and obtaining accurate results from my observations, I first needed to develop a relationship with the classes I intended to observe to ensure that my presence was unobtrusive and did not affect their normal behaviours and create a bias observation. To achieve this I regularly participated in classroom observation at the back of the room in attempt to become a participant in the classroom context. Trochim (2001) claims that ‘the researcher needs to become accepted as a natural part of the culture to ensure that the observations are of the natural phenomenon’ (Trochim, 2001: 161), therefore I attended certain classes as an observer over a series of months to ensure that the pupils were comfortable with my presence and so acted within normal behaviours. The final set of data collected was secondary data compiled of the school’s GCSE results since the Head of English was appointed, including results form 2008, 2009 and 2010. The data also provided average GCSE results for the rest of the Local Authority enabling me to compare the school’s results against average achievements in the LA. The purpose of this data was to compare the information obtained from the interview with the head of department, about strategies implemented to raise attainment, against the GCSE results. ANALYSIS The Interview: The aim of the interview with the English Head of Department (HoD) was to discover if GCSE results had improved since being appointed Head of English at School A, and if so to discuss the strategies and provisions which had been implemented to raise the achievement levels in literacy at School A. The current HoD had taken over the English department in April 2008; the English GCSE in the Local Authority that year was 64.5 percent of students achieving A*- C; School A achieved 58 percent, more than 6 percent less than the LA average and 2.1 percent less than the national average. However in 2009 the following year, after just one year as the department head, School A had improved their results by 20.7 percent. The LA’s average results in English in 2009 was 66.7 percent achieving A*-C, the national average was 62.7 percent, while School A’s results were up to 78.7 percent. In 2010 the GCSE results at school A dipped slightly to 76.8 percent due to the school’s wea ker cohort for that particular year; however the results were still higher than the Local Authority’s average of 70.4 percent and the national average of 64.8 percent. Due to the weaker cohort that year the HoD considered this result to be an excellent achievement. Strategies implemented in the department were a crucial factor for the improved attainment levels across the Key Stages at School A. In September 2009 a centralised, uniformed English curriculum was introduced to Key Stage 3 aiming to â€Å"drip-feed† appropriate skills and assessments to pupils that prepares them with relevant GCSE experience before they enter Key Stage 4. Pupils in Key Stage 3 are assessed each half term (part of Assessing Pupils’ Progress) and are assessed in relatively the same way as the new Specification GCSE, ensuring the identification of weakness areas for improvement. Despite the success of raised attainment across the Key Stages, these strategies cannot be considered as part of School A’s GCSE progression; the first year group from Key Stage 3 in September 2009 are due to sit their GCSE exams in the summer of 2011, only then will it be pos sible to determine if this strategy attributes to the departments achievements. There are, however, specific strategies in place which can be measured against the department’s raised achievement results. These are those that have already been applied at Key Stage 4, including a uniformed teaching curriculum incorporating, for example, all of the same poets and clusters in the GCSE specification; personalised revision packages which identify individual’s weakest areas combined with personalised intervention to improve these weaker areas and ensure pupils’ achieve highest marks possible; ceased timetables for year 11 pupils close to exams and new timetables put in place to prioritise learning for the nearest exam. The Head of Department believes that all of these are essential contributing factors for the departments improved results. Other elements, which the Head of English believes help pupils at School A to maximise their achievements, are more innovative and practical activities for example the employment of production companies to perfor m GCSE texts such as Of Mice and Men; and school trips to events such as Poetry Live, an event hosted by poets from the GCSE anthology. Pollack (1998) argues that ‘we need to develop and implement innovative teaching approaches this may mean providing numerous opportunities for hands-on as well as interactive teaching’ (cited in Taylor, 2004:294). The English Head felt that these opportunities expanded the boys learning and understanding by developing them outside of the classroom context. Bearne (2003) claims that ‘There is a tendency for boys to draw on visual sources for their writing’ (Bearne, 2003:3) and so visual performances such as Of Mice and Men help the pupils to draw on their experiences through vision and memory. In addition to those already mentioned, the Head of Department also felt that the ethos created in the department combined with class room methods were an essential factor in the development and attainment of the pupils at School A. The department has a strong focus on literacy which is promoted broadly amongst all pupils, including reading groups and book clubs, as wel l as spelling and reading lessons delivered to pupils on a weekly basis. Pupils are encouraged to read regularly, regardless of material, to ensure positive enjoyment of reading. In contrast, Brozo (2002, cited in Taylor, 2004) felt that teachers were more likely to choose texts with narratives that did not appeal to boys. The HoD however regularly promoted the reading of any materials, whether it was comics, newspapers, information books or autobiographies; she felt that if pupils were to enjoy reading and increase their confidence with literacy, they should feel that any text that they enjoy to be suitably considered. In terms of classroom strategies the department endorses well paced positive learning in an environment of mutual respect between pupil and teacher; clear personal targets which are monitored explicitly; strong Assessment for Learning to test and extend pupils’ understanding and learning through challenge, feedback and routes to improve; short, sharp activities; a strong focus on reading; regular homework; and clear learning objectives which are reviewed during the plenary to ensure all pupils know the direction of learning. These techniques are consistent to that of a survey which was conducted of fourteen schools in 1997. The survey was performed by former HMI Graham Frater; he concluded that the most successful schools in regards to boys and literacy were the ones that paid a lot of focus towards teaching methods. Particular methods that he felt where important for success included: prompt starts to lessons with clear learning objectives shared; a challenging pace sustained throughout the lesson; lesson endings which reflected on the learning objectives and achievements within the lesson; a variety of activities; high expectations of the pupils combined with a non-confrontational attitude towards discipline; and effective modelling. It seems quite clear then that pupils’ achievements at School A can be attributed to the methods and strategies implemented consistently across the department. The pupils are suitably challenged with pace and activities, they know what the aims of their lessons are and how they have achieved these aims, they regularly assess their strengths and weaknesses and so understand what they need to do in order to raise their achievement levels. On the contrary, however, it is difficult to determine whether classroom and reading strategies are the most influential factor for raising attainment in boys and literacy. From observation of quiet reading lessons I discovered that many of the high ability pupils in the top set classes within Key Stage 3 welcomed the lesson as a chance to read an engaging book; however the lower ability groups were often much more difficult to set on task. Indecision over which books to read, reluctance to read quietly, and regular disruption amongst the pupils seemed a frequent occurrence in the low ability classes. When addressing reading, the HoD spoke about the issues regarding boys and reading, specifically in respect of boys’ loss of motivation of reading in their teenage years. She believed that possible causes in lack of motivation in boys and reading was due to their increased socialisation as they grew older, the introduction of more complex reading materials in preparation for GCSE, peer pressure from others that could overshadow pupils’ personal preferences, and she also felt that a lot of teenage boys only read to obtain information and not for pleasure. Taking these factors in to consideration she claimed that it is important to understand the reasons why boys do not enjoy reading but it is more productive to motivate and encourage them to read. The HoD considers the best way to encourage reluctant readers is by getting to know individual pupils and then gauge their interest levels and preferences as a starting point. Some of the suggested strategies, she felt were particularly useful, are to provide a variety of books, both fiction and non-fiction with appropriate reading levels; to keep in touch with boys current interests and provide books that reflect them; respect reading interests of young people and don’t expect them to only enjoy books suggested by the teacher; allow pupils to self-select their own books; encourage an interest in short stories, graphic novels and magazines, working up to full-length books; and to give academic recognition and credit for books read. These ideas meet the suggestions put forth by Hornton (2005), who stated that boys’ motivation should be encouraged with texts that appeal to their interests, and Young and Brozo (2000, cited in Brozo, 2010) who find it important to aid boys to seek access points into literacy and reading. The Questionnaire: The questionnaire was distributed to a high ability top-set year 11class and a low ability bottom set year 11 class. There were 32 pupils in the high set and 13 in the low set. The aim of the questionnaire was to compare the reading habits and attitude towards reading from a range of pupils of different abilities. According to Hornton (2005) there is a correlation between individuals with low level literacy skills and those who dislike reading for pleasure, and so I predicted that an individual’s attitude toward reading would correlate with their predicted GCSE grade; the more pupils enjoy reading and feel that it is important, the higher I expected their grade to be. The predicted GCSE grades in the set one class ranged from A* C while the set five classes’ grades ranged from B – G. The questionnaires revealed that in the top set group 84.38 percent of pupils enjoyed reading and 90.63 percent felt that reading was important for reasons such as expanding vocabul ary, increasing knowledge and learning new things. There was a vast difference in comparison with the lower set where only 23.8 percent of pupils enjoyed reading and just 53.85 percent felt that reading was important. It appears then that there is indeed a correlation between literacy skills with enjoyment of reading, however other elements surveyed in the questionnaire aimed to establish whether boys and literacy could have a direct link to their parents’ relationship with reading. The survey asked pupils if their parents enjoyed reading and if they had been encouraged to read as a child. Sadowski (2010) analysed the literacy gap between working and upper class boys, he found that the gap for more affluent boys was not as large as those from working class backgrounds and attributed this to richer boys growing up with father’s who were readers. This suggests that pupils whose parents enjoy reading and encouraged them to read from a young age would achieve higher results than those whose parents either did not enjoy reading or did not encourage them. Surprisingly the results did not reflect this to an extent that one would have expected. In regards to pupils’ parents who enjoy reading, 76.92 percent of pupils in the lower ability set agreed that their parents enjoyed to read while 81.25 percent of pupils’ in the high ability group confirmed the same. Of parents who encouraged their sons to read as a child, 61.54 percent from the low ability agreed and 78.31 from the higher ability group. Despite a difference between the percentages for both groups’ parents who read and encouraged them to read when they were younger, the gap is not a remarkable one and does not qualify a distinct correlation between pupils’ ability in literacy and the relationship their own parents have with reading. The questionnaires revealed that in spite of 76.92 percent of their parents having an enjoyment of reading, only 23.08 percent of pupils in that class enjoy reading, which suggests that perhaps even if a higher percentage of parents had encouraged their son to read this would not necessarily have affected their attitude towards reading for pleasure and therefore would not affect their achievements in literacy. EVALUATION The outcomes and findings from this case study have, to some extent, complemented a lot of the existing research addressed in the literature review. For example Holland (1998) discovered that boys tend to spend a lot of time listening passively to teachers because they prefer lessons that are practical and involve a range of activities. From my observations in the classroom and confirmation from the Head of English in the interview, the boys at School A also learned best when lessons involved a series of different activities such as discussions, group work or practical tasks such as drama-based role plays. This outcome also corresponded with Malone (2010) who, in a venture to discover why boys where underperforming in literature, stated that he aimed to perform short, achievable tasks with the boys, he also suggested that giving explicit time frames focused the boys into completing their work. During the interview the HoD explained that by giving the boys at School A short time frame s to complete specific task, it kept the pace of the lessons challenging and rigorous and therefore engaged them in learning more effectively. However the problematic outcome for this particular study is that only one school has been investigated and so it is difficult to determine whether the observations, questionnaires and interview conclusions, pertaining to strategies and the improved GCSE literacy results for School A, are a true reflection of causes and solutions of underachievement. The English GCSE results were really poor at School A in 2008, just as the current Head of Department took over, and from the interview questions and answers it would seem that the department and classroom strategies implemented since then have helped to improve the pupils’ achievements. Nevertheless it is certainly impossible to verify whether these are the sole reason for improvement; one particular reason is that it was never established what mode of departmental and classroom strategies were in place before the current HoD took over from the previous. Another reason is that School A’s GCSE results prior to 2008 were not obtained for this study and so results before this year have simply been generalised based on the last available statistics. It could be assumed that the 2008 result may have been an isolated case and so accessing results prior to 2008 would have endorsed whether or not the results had improved substantially. Gorard et al (2001, cited in Malacova, 2007) believes that the gender gap is exaggerated and to some extent it is possible from this research to argue in favour of this. Over the past three years School A has achieved excellent GCSE results, especially in English and particularly in comparison to local and national results. School A is an all boys’ school and so advocates that boys in this particular context are not underachieving as are others in other contexts. This suggests that if School A can produce results above the average mark, particularly in a year when the cohort was extremely weak, i t should be possible for other schools to raise the achievement levels of literacy in boys just the same. However it would be possible to prove or disprove Gorard’s theory of the gender gap, if the strategies implemented at School A could be put into action in a school of a different context. If successful this would validate the outcomes from this case study, it would also give rise to further research based on boys and literacy and whether these strategies could be used in a co-educational school or if they are too specific to the needs of boys’ learning and therefore not beneficial to girls’ learning. I felt that the findings made regarding boys reading habits and their attainment levels were significant. From the sample of questionnaires taken there seemed to be a direct correlation between predicted grades A*-C and boys who enjoyed reading or felt that it was important; 100 percent of the boys in the high ability group were predicted a grade A*-C (although three pupils were unaware what their predicted grade is, the school setting procedures ensured that only bo ys predicted A*-C would be allocated to set one). Of this a high 90.63 percent felt that reading was important and 84.38 percent enjoyed reading for pleasure. There were however exceptions to this; one pupil in the higher ability group stated that he did not think reading was important because ‘I do not read and I am predicted A’s at GCSE’. Another boy from the high ability group, who has been predicted a C grade, also felt that reading was not important because it ‘doesn’t do anything’, however this boy also claimed that he enjoyed reading and so regardless of whether he felt that it was important or not, reading is part of his literacy development. Despite the boys who did not feel that reading was important, the majority of the boys in the class felt that reading was important; this suggests that the highest achieving literacy pupils in School A were ones that enjoyed reading and so this would also be an essential contributing factor to the success of their achievements. It is difficult here to state whether the reasons for the boys’ enjoyment of reading is owing to the strategies for motivating reading encouraged by the HoD and so part of the questions on the questionnaire should have been more open ended to allow pupils to explain perhaps what motivates their enjoyment of reading. The lower ability results from the questionnaire were also significant for showing a correlation between literacy achievements and reading habits. Only 23.08 percent read for pleasure and only half the class felt that reading was important, this suggests that the reason for low ability achievers is possibly due to the lack of enjoyment in reading. Once again the problematic issue with these results is that the number of pupils in the low ability class was considerably less than the number of pupils in the high ability class. To gain a perhaps more informed result from the questionnaires a larger sample from low ability classes should have been obtained to match the number of pupils in the high ability class. This may or may not have produced different results, but, whatever the outcome, they certainly would have been more valid. One final evaluation to consider, in regards to the low ability group, is how effective the suggested motivation strategies have been in engaging boys in reading. With only 23.08 percent of pupils in this class finding an enjoyment in reading it would seem that the strategies have been ineffective in increasing motivation and achievement in these particular pupils. What would have been an interesting study if had been possible, would be to assess pupils attitude towards reading and predicted grades before the HoD had taken over and implemented strategies, and then to compare them to the results that have been found during in this study. CONCLUSION Returning to the hypothesis, my aim was to find out if reading for pleasure impacted on boys’ attainment levels; whether the achievement of boys who did not enjoy reading was affected. I also wanted to identify successful teaching strategies and whether these would raise the levels of those boys who again did not enjoy reading. The study has shown that there is a correlation between boys reading habits and their achievement levels’; it has also identified some strategies that can be used to raise their attainment levels. However from this study alone it is difficult to say if those strategies implemented in an all boys’ classroom would be equally effective in a mixed sex classroom. Due to this it would be interesting to expand the research on a larger scale to investigate the impact of those strategies, which are effective for boys learning, on a) girls learning in a mixed classroom and b) boys learning in a mixed classroom. The gender gap issue is such a broad topic that research can be extended to a greater degree of investigation. For example I have covered some possible causes of boys’ underachievement in this study; however on a wider scale other possible causes could be explored such as masculinity and identity, class or ethnicity. I feel that the most important route to take continuing from this particular investigation would be a focus on masculinity stereotypes in the single sex classroom and the mixed classroom. Holland (1998) states that: Boys do appear to be locked inside a stereotype which appears to make them succumb to peer pressure and which inevitably impacts on their attitude to work’ (Holland, 1998: 177). Therefore researching ways that can reduce or even prevent these macho stereotypes in the classroom would be an important factor for understanding boys and underachievement. Despite that there is no definitive outcome from this study; I feel that it is something that I will take forward into my professional development; whether it is through consideration of differentiation in boys learning style in a mixed classroom, or through a focus of raising attainment levels in my classes. Whichever way I incorporate consideration of gender into my teaching, it is certainly something that needs to be addressed. Gorard (2001) believes that concern over the gender gap is exaggerated; however it is clear through GCSE tables that boys tend to achieve lower than girls. In relation to this then, it is important for both newly qualified teachers and established teachers to consistently strive to meet the learning needs of their pupils. It seems the most important way is by adapting their style and approach to learning styles to ensure that both girls and boys have equal opportunities to work and achieve their highest potential. BIBLIOGRAPHY BOOKS Bleach, K. (1998). Raising Boys Achievement in Schools. Staffordshire: Trentham Books Ltd. Brozo, W. G. (2002). To Be A Boy, To Be A Reader: Engaging Teen and Preteen Boys In Active Literacy. US: International Reading Association. Bryman, A. and Bell, E. (2007) Business Research Methods 2nd Ed. Oxford University Press Cohen, L. , Manion, L. Morrison, K (2007). Research Methods In Education. London and New York: Routledge. Cox, T. (2000). Combating Educational Disadvantage: Meeting the Needs of Vulnerable Children. London and New York: Falmer Press. Frances, B. (2000). Boys, Girls and Achievement: Addressing the Classroom Issues. London and New York: Routledge. Frater, G. (1997). Improving Boys Literacy. London: The Basic Skills Agency. Gillham, B. (2000). Case Study Research Methods. London and New York: Continuum. Greetham, B. (2009) How to Write Your Undergraduate Dissertation. Palgrave Macmillan. Mason, J. (1996). Qualitative Researching. London, Thousand Oaks, New Delhi: Sage. M illard, E. (1997). Differently Literate. London, Washington DC: The Falmer press. Punch, K. F. (2009). Introduction to Research Methods in Education. Los Angeles, London, New Delhi, Singapore, Washington DC: Sage. Rae, T., Pederson, L. (2007). Developing Emotional Literacy With Teenage Boys. London, California and New Delhi: Paul Chapman Publishing. Trochim, W. M. (2001). The Research Mothods Knowledge Base. Cincinnati, OH: Atomic Dog Publishing. Weeks, A. (1999). The Underachievement of Boys. Northants: First and Best Education. JOURNALS Holland, V. (1998). Underachieving Boys: Problems and Solutions. Support for Learning , 13(04), pp.174-178. Hornton, R. (2005). ‘Boys Are People Too: Boys and Reading, Truth and Misconceptions’. Teacher Librarian ,.33(2), pp 30-32. Malacova, E. (2004). ‘Effects of Single-sex Education on Progress in GCSE’. Cambridge Assessments UK , 33, pp233-259. Mills M. Keddie, A. (2007). ‘Teaching Boys and Gender Justice’. International Journal of Inclusive Education ,11 (03), pp.335-354. Myhill, D. (2002). ‘Bad Boys and Good Girls? Patterns of Interaction and Response in Whole School Teaching’. British Education Research Journal , 28 (03), pp.339-352. Reichert, M. Hawley, R.(2010). ‘Reaching Boys An International Study of Effective Teaching Practices’. Phi Delta Kappan ,91 (04), pp35-40. Sadowski, M. (2010, August). ‘Putting The Boy Crisis in Context’. Education Digest , pp 4-6. Taylor, D. L. (2004, December). Ã¢â‚¬Ë œNot Just Boring Stories: Reconsidering the Gender Gap for Boys’. Journal of Adolescent and Adult Literacy , pp290-298. Watson, A., Kehler, M. Martino, W. (2010, February). ‘The Problem of Boys Literacy Underachievement: Raising Some Questions’. Journal of Adolescent and Adult Literacy, 53(5) , pp356-361. WEBSITES Bearne, E. (2004, September). Raising Boys Achievement in Literacy. Retrieved March 2011, from RBA: www-rba.educ.com.ac.uk/PaperEB.Paf Boys Underachievement. (2005, November). Retrieved December 2010, from Teaching Expertise: www.teachingexpertise.com/articles/boys-underachievements-101 Gender and Achievement. (n.d.). Retrieved December 2010, from National Strategies: http://nationalstrategies.standards.dcsf.gov.uk/node/46121?uc%20=%20force_uj Malone, G. (2010, September 2nd). Extraordinary School For Boys: helping boys love literacy. Retrieved April 11th, 2011, from Telegraph: www.telegraph.co.uk/education/7976044/Extraordinary-School-for-Boys-helping-boys-love-literacy.html Mendick, H. (n.d.). Retrieved April 12, 2011, from Gender and Education:

Review of Case Study Methodology

Review of Case Study Methodology In the social sciences, a detailed analysis (or case study report) is a distinct, exploratory or illustrative dissection of an individual, assembly or occasion. An informative research endeavor is utilized to investigate causation so as to discover underlying standards. Careful investigations may be probable (in which criteria are created and cases appropriate the principles are incorporated as one get accessible) or review (in which criteria are made for selecting cases from chronicled records for consideration in the study).the research endeavor methodology displayed is an observational analysis that explores a contemporary issue inside its genuine connection. Comprehending the issue and its answer obliges incorporating a heap of commonly subordinate variables or bits of proof that are liable to be assembled in any event incompletely by particular perception. In spite of the fact that a normal meaning of careful investigations exists, one may experience different sorts of detailed analyses. Keeping in mind the end goal to make clear to which sort of careful investigation the presented strategies for learning reconciliation ought to be connected, we will quickly portray distinctive sorts of research endeavors. A definite survey of research endeavors is given by Yin (1989). A critical refinement must be made between all-encompassing and implanted detailed analyses (Yin, 1994:291). A comprehensive careful investigation is formed by a completely qualitative approach that depends on account, phenomenological depictions. Subjects and speculations may be imperative however ought to remain subordinate. This paper focuses on the instrumental case research methodinvolving ADHD and management of the obesity. The instrumental case research method looks at a particular situation with the aim of understanding the situation. As a research method, instrumental research focuses on providing insight into issues or help to redefine a theory. According to Yin(1994: 285), it offers secondary interest that plays a supportive role The case is of auxiliary investment; it assumes a steady part, encouraging our comprehension of something else. The case is frequently taken a gander at in profundity; its connections examined, its normal exercises definite, what’s more on the grounds that it helps the analyst seek after the outer investment(Bennett and Elman, 2006: 250). The case might be seen as commonplace of different cases. The capacity to take a gander at sub-units that are arranged inside a bigger case is effective when you consider that information might be investigated inside the subunits independently (inside case dissection), between the distinctive subunits (between case investigation), alternately over the sum of the subunits (cross-case investigation) (Chetty, 1996:73). The capacity to participate in such rich investigation just serves to better enlighten the case. The entanglement that learner analysts fall into is that one break down at the singular subunit level and neglect to come back to the worldwide issue that one at first set out to address (Yin, 2003). As a review of the instrumental case study method, the paper focuses on the Attention Deficit/ Hyperactivity Disorder and the Clinical Management of obesity (Pagoto Curtin et al 2012: 83) The study adopted the following abstract: ‘Attention Deficit/Hyperactivity Disorder (ADHD) has been associated with increased risk for obesity and obesity treatment failure. The present paper discusses how features of ADHD, including inattention, reward sensitivity and impulsivity, may impact obesity risk and have implications for the management of obesity. In addition, we review emerging research on how obesity may contribute to brain changes that are associated with ADHD-like symptoms. Finally, suggestions for improving the clinical management of obesity in patients with ADHD are discussed, including pharmacological treatment, exercise and cognitive behavior therapy. ADHD is a barrier to the clinical management of obesity and more research is needed to further understand the link between ADHD and obesity. Effective treatment approaches are needed given the significant difficulty patients with ADHD encounter in their attempts to regulate their weight in the contestof obesogenic environments.’(Pagoto Curtin et a l 2012: 83) The research offers a summary of the effects of ADHD on the management of obesity. The research seeks to identify the management of the weight and food habits of the patients. The barrier of the management of the obesity is a fertile ground for further studies. The research question of the study is: Do Attention Deficit/ Hyperactivity Disorder raise the risks on the management of obesity thus increasing the risk of obesity? The research methods embraced in the study incorporate the utilization of medicinal records which incorporate a dissection. The agenda of mediation typologies which distinguishes the later rules with respect to administration of corpulence in ADHD children. A rundown of essential intercession is recognized in the careful investigation zone that accommodated the concurred foundation. The information on the distinguished intercession is gathered through work area based research and meetings of the stakeholders in the industry. The intercession dada from both meetings and work area based data and a snowballing procedure are utilized to populate the mediation system that backings the dissection and guaranteed the consistency of data gathered in the careful investigation. The findings of the study incorporate the danger variable of ADHD for both heftiness and stoutness medication disappointment. The study found that obliviousness, reward affectability and impulsivity are characteristics of ADHD that help of indulging consuming pathology, poor adherence to structures endeavors to get more fit and expanded powerlessness to obesogenic situations. Clinical intercessions are offered where the clinician is relied upon to note that the experience above normal trouble in association, observing toward oneself, arranging, and individuals with ADHD is higher. This makes the individuals endure poor observing in the safety of sustenance allurements and consistency. The normal, or common, case (above) is regularly not the wealthiest in data. In illuminating lines of account and connection it is more functional to select issues that offer an intriguing, uncommon or especially uncovering set of circumstances(Johansson, 2003). A case determination that is dependent upon representativeness will sometimes have the ability to transform these sorts of experiences. The point when selecting a subject for a research endeavor, specialists will subsequently utilize data arranged testing, instead of arbitrary examining. Outlier cases,which are amazing, degenerate or atypical, uncover more data than the conceivably illustrative case(Gruber and Wallace, 1999:115). Then again, a case may be chosen as a key case, picked due to the characteristic investment of the case or the circumstances encompassing it. Then again it may be picked as a result of scientists in-profundity nearby information; where analysts have this neighborhood learning one are in a position to douse and jab†, and along these lines to offer contemplated lines of demonstration dependent upon this rich information of setting and circumstances (Stake, 1978:8). Whatever the casing of reference for the decision of the subject of the careful investigation (key, outlier, nearby learning), there is a qualification to be made between the subjestorical solidarity through which the hypothetical center of the study is continuously seen. The item is that hypothetical center – the logical casing (Stake, 1978:8). Past choices about case choice and the subject and object of the study, choices requirement areto be made about reason, approach and process in the detailed analysis(Young, 1939). It is therefore proposes a typology for the careful investigation wherein reasons for existing are initially recognized (evaluative or exploratory), then methodologies are outlined (hypothesis testing, hypothesis building or illustrative), then methods are settled on, with a vital decision being between if the study is to be single or numerous, and decisions additionally about if the study is to be review, depiction or diachronic, and if it is settled, parall el or consecutive. It is consequently conceivable to take numerous courses through this typology, with, for instance, an exploratory, hypothesis building, different, settled study, or an evaluative, hypothesis testing, single, review study. The typology hence offers numerous stages for research endeavor structure(Yin, 1994:290). A nearly related study in drug is the situation report, which distinguishes a particular case as treated or inspected by the creators as exhibited in a novel structure. These are, to a differentiable degree, like the careful investigation in that numerous hold audits of the important written works of the subject talked about in the intensive examination of a cluster of cases distributed to fit the rule of the report being exhibited(Yin, 1989). These case reports could be considered satchel studies with a central exchange of the new, introduced case within reach that introduces a novel investment. Bibliography Bennett, A. and Elman, C. 2006. Complex causal relations and case study methods: the example of path dependence.Political Analysis, 14 (3), pp. 250267. Chetty, S. 1996. The case study method for research in small-and medium-sized firms.International small business journal, 15 (1), pp. 7385. Gruber, H. E. and Wallace, D. B. 1999. The case study method and evolving systems approach for understanding unique creative people at work.Handbook of creativity, 93 p. 115. Johansson, R. 2003. Case study methodology. Pagoto, S., Curtin, C., Appelhans, B. M. and Alonso-Alonso, M. 2012. Attention Deficit/Hyperactivity Disorder and the Clinical Management of Obesity.Current Obesity Reports, 1 (2), pp. 8086. Stake, R. E. 1978.The case study method in social inquiry.Educational researcher, pp. 58. Yin, R. K. 1992.The case study method as a tool for doing evaluation.Current Sociology, 40 (1), pp. 121137. Yin, R. K. 1994.Discovering the future of the case study method in evaluation research.Evaluation Practice, 15 (3), pp. 283290. Yin, R. K. 1989. Case Study Research: Design And Methods (Applied Social Research Methods) Author: Robert K. Yin, Publisher: Sage Publicat.Sage Publications, Inc. Young, P. V. 1939. The Case-Study Method.Prentice-Hall, Inc.

Analysis of The Complete English Tradesman :: Complete English Tradesman Essays

Analysis of The Complete English Tradesman Daniel Defoe's "The Complete English Tradesman", is a good example of his non-fiction writing. The content in the writing is thorough and well presented by Defoe. In the writing, Defoe explains what his opinions on what it means to be an English tradesman. Contrary to some experienced tradesmen, he believes that to be a good tradesman, one needs to acquaint himself with all business in general. According to Defoe, application is of more importance than diligence in business. "Without application nothing in this world goes forward as it should.." Tradesmen of Defoe's day said that there needs to be an aggressive passion in how one handles business, and anger and temper sometimes are necessary. Defoe also challenges this. He believes a "complete tradesman" should not show the least return, signal of disgust, no passions or fire in his temper. A complete tradesman should be soft and smooth, showing little emotion. Basically, Defoe explains how to be by his definition a complete tradesma n. "When a tradesman has thus conquered all his passion, and can stand before the storm of impertinence, he is said to be fitted up for the main article, namely, the inside of the counter." The content of the writing is very comprehensive, covering many aspects of being a tradesman. The content that has already been praised, is presented very well. Defoe organizes the information into letters to all tradesman of England. The writing is a collection of letters to English tradesman, each addressing a different issue. Defoe makes it clear that the information is based on opinion, so there are no false leads. For example, "It its the judgment of some experienced tradesman that no man ought to go form one business to another... I, myself will not enter that dispute here. I know some very encouraging..." Defoe also provides examples by making a story using a script format. "Lady. No I can't he'd use me. Cit. How does your ladship know? Lady. Why, I know...." Defoe uses different techniques and ideas to present the content well in this piece. In Daniel Defoe's "The Complete Tradesman", the description usage is adequate, but in a few cases it is a little too much. There is enough description to explain the whole situation, but it is not overdone to tire the reader.

Morality is timeless Essay

Harper Lee’s To Kill a Mockingbird highlights examples of heroism and courage in a small Alabama town plagued with racism and poverty. The novel focuses on the experiences of the Finch family which consists of Atticus, Jem, and Scout. Scout serves as the narrator of the book; her story is based on her recollections of the events leading up to, during, and after her father’s defense of Tom Robinson, a black man accused of raping Mayell Ewell, a white woman. To Kill a Mockingbird is not only a critique of racism, but teaches valuable life lessons about moral courage and standing up for what is right. The protagonist, Atticus, displays both moral and physical courage throughout the novel. He is committed to instilling in his children the importance of living an ethical lifestyle regardless of the circumstances. For example, he explains to Scout that he accepted the Tom Robinson case because it is a moral obligation for equal representation. Specifically, he clarifies to Scout that the primary reason is † if I didn’t I couldn’t hold up my head in town, I couldn’t represent this county in the legislature, I couldn’t even tell you or Jem not to do something again† (Lee 83). Atticus believes that it is only fair to judge one in terms of that individual’s moral caliber not by the color of their skin. Furthermore, he does not condone retaliation. Even though Mrs. Dubose, a morphine addict, is prejudice and unkind, Atticus reprimands Jem for behaving heartlessly towards her. Atticus never loses his composure even when Bob Ewell maliciously spits in his face. He rationally explains, â€Å"He had to take it out on somebody and I’d rather it be me than that houseful of children out there. You understand? † (Lee 218). Harper Lee’s lesson is that a person’s morals should not be affected by other’s behaviors or beliefs. Honor Above All 1 Steiner 2 Harper Lee creates the narrator, Scout, to demonstrate that morality is not necessarily instinctive but can be taught. As the novel progresses, Scout realizes that moral courage is more difficult to carry out than physical courage. No one in the community wants to associate with Boo Radley; however, Scout comes to recognize his compassion and returns it with civility. Although initially fearful, Scout welcomes Boo’s gifts and embraces his differences. Again, Scout demonstrates that morality can be learned when a potentially violent situation arises at playground with another classmate; she refrains from using force. Her calmer nature proves effective at the courthouse. She harmlessly inquires about Mr. Cunningham’s family, â€Å"Hey Mr. Cunningham. I know your son, Walter he is a nice kid. We go to school together†¦Ã¢â‚¬  (Lee 81). Her kindness results in the scattering of the angry townspeople. Scout witnesses that kindness is effective tool to avert violence. The minor characters of Calpurnia, Tom Robinson, and Boo Radley are symbols of decency and respect regardless of their backgrounds. Calpurnia chastises Scout for mocking Walter’s unsophisticated eating habits. â€Å"Hush your mouth! Don’t matter who they are, anybody sets foot in this house’s yo’ comp’ny, and don’t you let me catch you remarkin’ on their ways like you was so high and mighty†¦! † (Lee 33). Calpurnia is a maternal figure for the Finch children as she too, similarly to Atticus, helps them to differentiate right from wrong. Tom Robinson exhibits courage when he volunteers to help Mayella Ewell with household chores even though he is aware of his inferior social standing. His decision to speak only the truth in court by stating, â€Å"I felt right sorry for her; she seemed to try more’n the rest of ’em. ,†(Lee 197) further demonstrates his caring demeanor and commitment to behave courteously. Lee includes the character of Boo to Honor Above All 2 Steiner 3 depict another type of prejudice: social discrimination. Despite his social alienation, Boo courageously abandons the safety of his home to help ‘his kids. ’ Boo is guided by his sense of what is right and puts aside society’s rejection. Calpurnia, Tom Robinson, and Boo are guided by morality. Courage can be defined as the ability to face fear, pain, uncertainty, and the unknown. Harper Lee effectively uses her characters to demonstrate moral and immoral choices and consequences. Atticus and Scout respond to the town’s racism with a resolute sense of purpose. Through her father’s and Calpurnia’s guidance she becomes more refined and tolerant. She averts physical confrontations at school and understands that morality should not change with each situation. The character of Tom Robinson symbolizes what it truly means to be a caring human being. Regardless of the racism that he endures, he is honest and compassionate. While racism plays a significant role in Lee’s novel; the importance of moral courage cannot be understated. As Atticus profoundly advises, â€Å"You’ll never know really understand a person until you consider things from his point of view†¦ † (Lee 65). Harper Lee conveys that since justice is blind to race, gender, and differences a moral code is the only hope for equality. Unfortunately, as exhibited in the novel, adhering to one’s moral code does not always guarantee the desired or just outcome. Lee, Harper. To Kill a Mockingbird. London: Vintage Classics, 2007. Print. Honor Above All 3.

Stock and Berkshire Hathaway

1. What is the possible meaning of the changes in stock price for Berkshire Hathaway and Scottish Power plc on the day of the acquisition announcement? Specifically, what does the $2. 17-billion gain in Berkshire’s market value of equity imply about the intrinsic value of PacifiCorp? The significant change in stock prices for Berkshire Hathaway and Scottish Power plc is partially due to the wide variety of products produced under these names. The approval of these investments and products are indicated by the overall market because they are creating value for both the buyer and the seller. Berkshire Hathaway is responsible for eight different types of product ranging from insurance and financial products to retail including wholesale distributing and apparel along with an array of smaller businesses. Warren Buffett’s name goes a long way based on the type of work and success he has had in the past. His decision to run the company in the interests of the shareholders has proven to be successful. â€Å"In 1977, Berkshire Hathaway’s year-end closing share price was $102; on May 24, 2005 the closing price on Class A shares reached $85,500†. It seems that Warren Buffett refuses to ‘split’ the firm’s share price in order to make it more accessible to everyday investors is because of the value of the company and the contribution that these investors have made to Berkshire Hathaway. They make risky decisions and expect a successful outcome which in turn results in a profitable project. The $2. 17-billion gain in Berkshire’s market value implies that the intrinsic value of PacifiCorp is increasing as well. The market value may be different than the intrinsic value however the intrinsic value is the actual value of the company including assets and the underlying perception of that value. Both tangible and intangible factors may be included. Therefore the intrinsic value of the PacifiCorp is on the rise with the amount of revenue they are generating. 1. Based on the multiples for comparable regulated utilities, what is the range of possible values for PacifiCorp? What questions might you have about this range? PacifiCorp |Revenue |EBIT |EBITDA |Net Income |EPS |Book Value | |Median |$6. 252B |$8. 775B |$9. 023B |$7. 96B |$4. 277B |$5. 904B | |Mean |$6. 584B |$9. 289B |$9. 076B |$7. 553B |$4. 308B |$5. 678B | | For the most part, the means are higher than the medians for the enterprise financial value of PacifiCorp. 2. Assess the bid for PacifiCorp. How does it compare with the firm’s intrinsic value? As an alternative, the instructor could suggest that students perform a simple di scounted cash flow (DCF) analysis. Warren Buffett and Berkshire Hathaway’s bid of $5. 1 billion for PacifiCorp was a risky yet profitable move for the pair. With the average revenue earning of $6. 584 billion and an average net income of $7. 53 billion, the earnings seem to exceed the overall cost of purchasing this corporation. PacifiCorp had steady returns for numerous years as presented below. 5. 4 percent of their stock was preferred stock for two consecutive years with dividends of $1. 35 per share. With the wide range of businesses under their belt including, insurance, apparel, building products, finance and financial products, flight services, retail, grocery distribution and carpet and floor coverings along with an assortment of smaller businesses, PacifiCorp would just be another notch in the belt of Warren Buffet. His investment strategies have proven to be profitable and his decisions have proven to be knowledgeable and successful. The intrinsic value of the corporation will definitely be of value to Warren Buffett and Berkshire Hathaway based on PacifiCorp’s earnings, financial worth and the value of their assets in years prior to Warren Buffett’s acquisition. [pic][pic] 3. How well has Berkshire Hathaway performed? How well has it performed in the aggregate? What about its investment in MidAmerican Energy Holdings? Berkshire Hathaway has become an investing empire. Their enterprise value in 2005 was nearly $520 billion. Taking a look at their current value is no different. According to Berkshire Hathaway’s most recent 10K report (2010), they had 1,648,000 outstanding shares of class A stock. At the end of 2010 the price of the class A stock was $120,450 per share. If we use the formula for market capitalization we get: Market Capitalization = Outstanding shares * share price Market Capitalization = 1,648,000*120,450 Market Capitalization = 198,501,600,000 We then use the 10K to find their cash, cash equivalents and debt for 2010. According to their annual report they had cash and cash equivalents of $2,673,000,000 and a reported debt of $6,621,000,000. We then use these numbers to find the current enterprise value: Enterprise value = 198,501,600,000-2,673,000,000+6,621,000,000 Enterprise value = 202,449,600,000 These estimates from 2005 and 2010 show us that Berkshire Hathaway did lose some value; however they still have an enterprise value of over $200 billion. This shows us that even through the last few years when the United States has been in an economic recession overall they have remained strong. Using Yahoo Finance we see that there was a slight drop in stock A prices in February of 2009 when it reached a low of about $78,000 per share. But by the end of 2009, prices rose back to above $100,000 per share and have remained, showing consistency and continuing to build shareholder confidence. Berkshire Hathaway has increased its interest in MidAmerican from 88. 6% to 89. 8% since 2005. By doing this it only adds even more value to Berkshire Hathaway as MidAmerican is a leading provider of natural gas for more than 2. 4 million customers. The investment has surely paid off as the 2010 annual report showed 1. 13 billion dollars of earnings for Berkshire from MidAmerican. 4. What is your assessment of Berkshire’s investments in Buffett’s â€Å"Big Four†: American Express, Coca-Cola, Gillette (now part of Procter and Gamble), and Wells Fargo? With a little more than 150,000,000 shares of American Express, Berkshire Hathaway owns about 12. 6% of the company. It initially cost about $1,300,000,000 to invest in these shares. As of today the market value is right around $7,500,000,000. As you can see, Investing in American Express has turned out to be a smart move for Buffet as they have seen over $6. 2 Billion in profit. American Express shows a consistent trend year after year of making a profit and continues to be a safe and attractive purchase. Berkshire owns around 200,000,000 shares of Coca-Cola coming out to be about 8. 6% ownership of the company. The cost of these shares was about $1,300,000,000 and the market value of the shares today has grown to be almost $13,400,000,000. Again we see a smart investment, with Coca-Cola producing a $12. billion dollar profit for Berkshire. Coca-Cola continues to be a leader in effectively running their finances as it seems their stock prices rises every year. They carry low debt and our consistent fitting perfect into the Berkshire mold. Berkshire Hathaway owns close to 73,000,000 shares of Procter and Gamble. These shares are equal to a 2. 6% ownership of Procter and Gamble. When they invested this cost them $464,000,00 0. Today these shares are worth around $4,800,000,000. Again we see that this investment has worked out in favor of Buffet and Berkshire Hathaway. Proctor and Gamble carries a low amount of debt and produces a high net income and continues to grow year in and year out making Buffet and other investor’s very happy shareholders. The last company Wells Fargo, Berkshire has about a 6. 8% ownership of or roughly holds around 360,000,000 shares. The cost of the Wells Fargo stock to Berkshire was estimated at around $8,000,000,000. In today’s market these shares hold a value of about $10,600,000,000. Even though this is a profit of about $2. 6 billion I’m not sure if Buffett is extremely happy with this investment. Proctor and Gambles stock price is relatively low giving it much room to grow however over the last couple of years it has fluctuated quite a bit. Out of the four investments this is definitely the least effective and efficient. 5. From Warren Buffett’s perspective, what is the intrinsic value? Why is it accorded such importance? How is it estimated? What are the alternatives to intrinsic value? Why does Buffett reject them? As I already stated, intrinsic value is found by using a company’s stock price and their earnings per share. People tend to buy the stocks that they feel are worth more than what the market claims they are worth adding to the notion of a company’s intrinsic value. Warren Buffet obviously does much more than the average person when he chooses stocks to invest in as we can see from the amount of money he and Berkshire Hathaway have. When deciding whether or not to invest in a company he looks at the return on equity of a company to see the consistency of a company’s performance and how much equity they are able to generate for their shareholders. Buffet performs this calculation year after year to be sure that the company is consistent. Next, he looks at the company’s debt to equity ratio to be sure that the company is avoiding large amounts of debt. None of the companies he invests in have higher liabilities than assets as he believes that debt in large amounts is a bad thing. In order for him to be willing to invest he must see that the company is or will be highly profitable for years to come. If the company hasn’t been publically traded for at least 10 years more times than not, he won’t even consider investing. He does not believe in short-term success; he claims that â€Å"in the short-term, the market is a popularity contest. He chooses stocks by looking at the overall ability and potential of a company rather than how they perform in the short-term ignoring the supply/demand attraction. When Buffet considers companies for the long-term, he looks at them more as an owner than a shareholder concerned with receiving capital gains. He is concerned with the individual company and their abili ty to make money over the long-term. He prefers to act as almost an owner and less of a shareholder concerned with receiving capital gains. 6. Critically assess Buffett’s investment philosophy. Be prepared to identify points where you agree and disagree with him. . Economic reality, not accounting reality. When looking at a business, Warren Buffet looks at the economic reality as opposed to the accounting reality. Accounting reality looks at a company using the generally accepted accounting principles (GAAP) to determine the value of the company. GAAP covers revenue recognition, balance sheet item classification, and outstanding share measurements. Economic reality is broader than accounting reality and includes intangible assets, such as patents, trademarks, special managerial expertise, and reputation of the company. When looking at the value of a company looking at the economic reality makes more sense because it includes intangible assets that can’t be computed, but are an important factor for the value of a company. For example, the reputation of a company cannot be quantified, but reputation is valuable in the sense that a company with a good reputation will draw more favor from customers and investors while a company with a bad reputation will drive away customers and potential investors. 2. The cost of lost opportunity. This compares an investment opportunity against the next best alternative. What this means is that when making a decision as to whether to invest in one company or the other, choices are made as either/or decisions rather than yes/no. By looking at companies this way, Buffet is able to see how investing in one company would compare by looking at the potential returns on common stock from investing in another company. 3. Value creation: time is money. In terms of value creation, Buffet believes that intrinsic value is a better indicator of future expected performance as opposed to using book value. Intrinsic value is the discounted value of the cash that can be taken out of a business during its remaining life while, book value is the number of total assets a company has minus intangible assets and liabilities. What makes the intrinsic value a better indicator of future expected performance is the fact that book value may not reflect the economic reality because depending on the relationship between expected returns and the discount rate; value can either be gained or lost. What this means is that the estimates of the return on equity can drastically change whether or not a company is seen as valuable. . Measure performance by gain in intrinsic value. Performance is measured by gain in intrinsic value as opposed to accounting profit. Warren Buffet says that Berkshire’s performance is not measured by the size of the company, but by the companies per share progress. The gain of intrinsic value is modeled as the value added by a business compared to the cost for the use of capital in that business. Other forms of measuring performance look at the ability to earn returns in excess of the cost of capital. By looking at per share progress, it is easier to see growth in a company than by looking at how large it is because a large company does not mean that it is a profitable company or that their growth is related to an increase in profit, if anything their growth could just be related to a large number of acquisitions. 5. Risk and discount rates. When looking at risk and discount rates, instead of using the traditional capital asset pricing model (CAPM) to estimate discount rates, Buffet chooses to use the rate of return on the long term treasury bond to discount cash flows. The CAPM model of estimating discount rates adds in a risk premium to the long term risk free rate of return, while Buffet’s method avoids risk altogether and uses a risk-free discount rate. The reason behind this is that Buffet likes to invest in companies with predictable and stable earnings and avoid financing his firm with debt. Overall this is a smart strategy because if there was ever an economic crisis, like there was a few years ago, a company not financed with debt and low risk would pull through better than a company who had many high risk investments and was financed by debt. . Diversification. Buffet’s view on diversification is that it is an unnecessary precaution, and that instead of inventing in many stocks to avoid risk, it would be more profitable to wait for one exceptional company to invest in. The logic behind this makes sense, but the execution is difficult because of the fact that the stock market is so volatile and investors do not have all of the information necessary to make an informed decision with 100% confidence that there investment will pay off. There is also the fact that some investment opportunities may be missed if companies wait too long to find that one exceptional company to invest in. 7. Investing behavior should be driven by information, analysis, and self-discipline, not by emotion or â€Å"hunch†. Buffet believes that stock prices have become unreliable measure of intrinsic value of a company because they are influenced by the fear and greed of investors. He also doesn’t believe in the efficient markets hypothesis (EMH), which states that stock prices are fair in reflecting what was known about a company. Buffet disapproves of this theory because he believes that stock prices do not accurately portray the intrinsic value of the company and believing in this theory prevents investors from seeing the bigger picture on how the stock market really works. It is important to use information and analysis of companies when making an investment decision because you can’t always trust the information that is given and the information given may not give the whole picture on the value of a company. 8. Alignment of agents and owners. When it comes to investing Buffet believes that an alignment of agents and owners is important. This means that the needs of the company are that of the needs of the shareholders. Keeping the needs of the shareholders first is important to having a successful business. If shareholders are happy, businesses can expect to receive a good supply of cash flow from investments. Shareholder wealth can also lead to more profits in the company as well as the company will be focused on long term profit maximization and not just the short term. 7. Should Berkshire Hathaway’s shareholders endorse the acquisition of PacifiCorp? While looking at PacifiCorp’s Consolidated Financial Statement (Exhibit 7) PacifiCorp’s income from operations before tax fits the criteria 1 presented in Berkshire Hathaway’s acquisition criteria (Exhibit 8) by having more than $75 million in pretax earnings, (PacifiCorp has $4. 2 billion. ) However, they do carry about $3. 92 billion in long-term debt, which fails criteria 3 in Exhibit 8. They do however, fill criteria 2 in Exhibit 8 by bringing in about $3. 6 million more in net income from 2005 to 2004 (Exhibit 7) although more data would be needed to see if PacifiCorp was consistently earning a profit. Compared to 6 other companies in the same field in Exhibit 9, PacifiCorp doesn’t seem like the best investment. PacifiCorp is number 2 for total assets, but also number 2 for total liabilities. This goes in hand with their total long-term debt as they are also number 2, but for short-term debt they are number 5. For total debt they are number 2. For total revenue before taxes, PacifiCorp is number 4. What these numbers mean is that compared to other companies, it seems that PacifiCorp is a more risky investment. PacifiCorp generally has more debt and is not bringing in as much revenue, though they still have positive growth in net income. Another source of concern is that PacifiCorp has very low earnings per share with a EPS of just $0. 81 with the next competitor having an EPS of $1. 42 (Exhibit 10). From looking at the data presented in the tables, shareholders should not endorse the acquisition of PacifiCorp because the company fails several criteria that were established by Berkshire Hathaway as guidelines for acquiring corporations, and it is unlikely that the acquisition will result in the 15% annual growth of the intrinsic value of the firm.