Organizational Change Annotated Bibliography Example | Topics and Well Written Essays - 750 words

Organizational Change - Annotated Bibliography Example Organizations are difficult to change because they are complex systems that are made-up of many different actors. If the organization is going to change from one based on individual effort to one that operates on principles of teamwork and cooperation, some very basic assumptions on the part of each actor must change. Individual team members must stay focused on the goal the entire team is trying to achieve, not just their role in accomplishing the goal. Teams also need to have new types of leadership that is capable of communicating and reiterating the team goals to individuals and the team as a whole. Finally, all the members of a team need to recognize that staying in the same routines and same modes of work makes employees very comfortable, but also results in the same unsatisfactory results. Change is not something to fear, even though it may be uncomfortable for a while. Working as a team is not something that can be treated as a fad or as an objective of senior management that isn’t really workable. Complex work requires the teaming of disparate employees in collaborative and cooperative roles in order to achieve a high degree of success. This change from individual effort to team effort is one of the greatest challenges facing organizations today. Establishing malleable and dynamic teams is only possible is sound principles of organizational change are implemented. The authors of this article are Amy Thurlow PhD and Jean Helms Mills PhD. In this article they argue that controlling organizational language during a period of change is a key tactic used by leadership to bring about desired results. The problem with this control is that it may inhibit the sensemaking ability of those most affected by the change. The focus of this article is actually on professionals that come in from the outside to help organizations change. This is a decidedly different approach from implementing change in-house because much

Current Events in Business Research Essay Example for Free

Current Events in Business Research Essay I had a hard time trying to figure out a function that I do at work or one that I would I’d like to in the future so I picked from Chapter 3 of our reading, The â€Å"Bringing Research to Life† of the Business Research Methods section which illustrates a scenario. Myra Wines is a woman that was hired by the U.S. Army to investigate and research with her team whether or not the testing area where the army uses its munitions testing was a direct connection or cause to the civilian death rate increasing since the range opened. There are a few issues here that Myra and her team will need to research and investigate. There are local activists voicing their concern, calling to shut down the range due to being environmentally hazardous. Another issue was these â€Å"duds† or bombs that didn’t explode when it hit the ground going off randomly, as the Army believed that its dead shells would only explode if another bomb was dropped on it to cause it to ignite. According to the Army, civilian deaths could not be attributed to their munitions testing area due to their testing of dropping the â€Å"duds† to torching them to try and ignite them. Wines and team hypothesized that the dead shells could potentially explode and leave no trace of the event taking place. Wines and team, met with Army representatives to go over the reports regarding dead shells or â€Å"duds†. By reviewing these materials they would be able define the management question which in turn would help by coming to a conclusion for the research question. The research team had to look at all the personnel that came in contact of shells, results that the explosions were leaving, and the frequency of dead shells Army states one out of twenty) to be able to come up with better research questions. The team’s observation showed them that civilians were actually opening up the bombs to salvage anything that had value. Unfortunately the bombs exploded and â€Å"vaporizing† the scavengers. Wines’ research team reviewed the data they collected, concluding that the civilians were thrill seekers and the scavenging fit into their thrills. Wines and team discussed their  conclusions to the Army, in which the Army to develop and implement policies to lessen av oidable civilian deaths. The team’s conclusions after reviewing the data, determined that the Army’s best management decision was to set off every â€Å"dud† shell at the end of each testing day and put kerosene on them so bombers can see at night and drop bombs to destroy the â€Å"duds†. Because of Wines’ and the team’s research, the Army implemented new procedures and the civilian death rate dropped. Research is a very important aspect to any company that is seeking to gain success or get the up hand on competitors. Searching for methods that will add value to companies is also considered the business research process. When researching, one must consider what is in the best interest of the company, its employees, the sponsor, and the community. Business research is important when determining what types of services companies are considering and required to analyze business situations. It is important to research the full potential of the service and what will the company gain from it. Business research is used to perform analysis of the industry, its products and to identify customer groups. It also is an important tool for management to make better business decisions. If the risk is too high, and there is not much that progress that the company will gain from providing the services, then it might be best to hold off a while longer. One of the keys to research is to take surveys, talk to all parties involved, and provide reasons for and/or against the objective of the research before it can even be considered. At my employer, we do employee surveys once a year. This is a way for the company to do research on the employee’s likes, dislikes, and complaints. By doing surveys, companies can get employees to open up and get answers to critical questions confidentially. References Cooper, D. R., Schindler, P. S. (2014). Business research methods (12th ed.). Boston, MA/USA: McGraw-Hill/Irwin.

What Is Career Planning Commerce Essay

What Is Career Planning Commerce Essay Destiny, faith, dreams, these unstoppable ideas are held dip in the heart of men. As long as they are people who seek freedom in this life, this things shall not vanish from the earth. But most people die without realising this ideas. Would you let that chance pass you by? So i have to stand up and stop thinking like a scalar multitude (having a point of magnitude without a direction) but act like a vector (having a direction and a point of magnitude) i.e. doing a great career planning for myself. Firstly, what is career planning? The act of choosing a career path. In most cases it is done during adolescence and early adulthood. But it is often modified as changes in the self, the world or work change in the course of an individuals life. In other words career planning could be defined with different terms such as; career vocational counselling, vocational guidance and career guidance. Career planning could also be defined as the means through which we achieve our objectives and move closer to our goal. Career planning could be divided in to the vertical and horizontal direction. Horizontal career planning is based on the ways in which i will use to acquire the knowledge and skills of my dream job. In the other hand vertical career planning is based on the knowledge i have on the industry i wish to work for and how they have evolve over time.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   For a start, what is my point of magnitude? My point of magnitude is the pick of my dreams, which is becoming a branch manager in an international bank. To reach this goal i have to go through some steps. Firstly, gaining my necessary skills needed for the job. So to gain these skills i have to be orientated on how to gain a strong educational background on my career. I will start from the level of achieving an advance level certificate in social science with a good grade (mathematic, Economics, Geography and philosophy). This will lead me to the next step in achieving an HND certificate in banking and finance. From this step i will try to gain work experience by doing my internship for a bank under the customer service department. In addition, I will strive on having my bachelor degree in business management. At this point, I will look forth on holding the position of a cashier in a bank that has a promising career growth like Lloyds TSB. Whi le trying to match up with this new responsibility, I while look on having a master degree in business management. I will try to impress my employer by showing my vocation for my job and putting in my knowledge in relation to my task in other to gain promotion in my career as a head teller which is the first line manager. After having my master degree in business management and obtaining the post of head teller in the bank, I will aim for a step forward. That is, being the vault custodian in the bank which is next to my point of magnitude. And finally, due to hard work, determination and devotion in my job, my chasse comes to an end when I am being promoted to the branch manager of the bank. All this steps sounds easy in writing or in word but actually, it is not what it seems to be. Yes they are obstacle that I will meet on my way to the top and not forgetting that the dream is not only mine so they will be competition on the way too. Looking in to the post of customer service. After having my HND in banking and finance at the age of 21, I will aim for an internship in the bank. This should be under the department of customer service in a bank. The point of view of an overall banking process, customer service plays a very important role in a banks income and revenue. The functions of this department mainly include dealing with returns, exchanges and complaints. Basically, our goal is not only to help the customers deal with their problems, but also offer them a service that exceeds their expectations. Several key points are listed as follows: 1. Know your product Know what service we are offering to customers completely. Make sure you can answer every question the customer asked correctly and explain every process in our service programs. 2. Body Language Most of the communication that we show to others is done through body language. Make sure to look your customers in the eye while they are speaking. It shows that we are listening to them. Also, talk with a smile is never bad. 3. Anticipate What Customers Needs It can make customer have a feeling of We care about them everywhere then improve their trust about our service. A customer service experience can change my perception of the customers: what do they want? What do they need? How can we help them? The most important is how to do an effective communication with customers. It is the so called commutation skill. Because of this is my first job, I can also learn how to get on well with each other: those who manage me, those who I manage, my colleagues, especially my customers. With these new skills I will look on to the next step, which is to further my education and career by gaining a bachelor degree in business management and trying to secure the post as a cashier in a bank which has a promising career growth like Lloyds TSB. Moving forward, what is a cashier? A cashier is a person who receives money or card payment from the customers for the goods purchased. Wherever any purchase of goods or services involved in every institute minimum of one cashier is employed. The number of cashier employed can be varied due to the range of work and the size of company. The more a smooth transaction between a customer and supplier a cashier deals the more expert he is. His responsibilities is not just limited to the collection money, they may vary depending upon the type of employment. Bank cashiers are the front line officers for the enquiries of customers entering a bank branch. So I will be responsible for the face to face interaction with the customers usually using customised computer systems to process transactions and deal with account enquiries. I am also entitled to undertake many of the day to day routine and administration tasks. As I will be a fresh officer or often be called new entrant may start my job as a clerk helping the seniors in paperwork and administration in the back room of the bank to progress the bank cashier on the front desk dealing with customers accounts and enquiries. Senior bank cashier may supervise branch assistants, helping the customers in completing loan and mortgage applications, authorising loans or working in the foreign exchange section. This session will come to me whenever I will be able to promote myself from junior to senior. In the modern competitive financial services provision banks are operating a huge range of role. Bank cashiers are expected to market and sell financial products and services to customers. Cashiers should acquire a comprehensive knowledge of products and services offered by the bank. To promote myself in the position of a bank cashier the previous experiences and knowledge needed will come from the customer care officer as I will have been serving for six months in the same banking field. To be a bank cashier the following skills and qualities I must have: à ¢Ã¢â€š ¬Ã‚ ¢ Communicative skills with a wide range of people à ¢Ã¢â€š ¬Ã‚ ¢ Play a role as a part of a team. à ¢Ã¢â€š ¬Ã‚ ¢ be honest and reliable à ¢Ã¢â€š ¬Ã‚ ¢ The ability to pay attention to accuracy and detail ins and outs à ¢Ã¢â€š ¬Ã‚ ¢ Increased level of confidence in selling and marketing products to customers à ¢Ã¢â€š ¬Ã‚ ¢ Knowledge in computer. à ¢Ã¢â€š ¬Ã‚ ¢ Be aware of confidentiality issues i.e. I must not disclose the inside information of the bank. à ¢Ã¢â€š ¬Ã‚ ¢ Provide a high quality and customer driven service. à ¢Ã¢â€š ¬Ã‚ ¢ Provide personalized, friendly and efficient cashiering service and also have temptation treating the customers fairly at the heart of their values. à ¢Ã¢â€š ¬Ã‚ ¢ Have a desire in acting as the first point of contact for customers in order to identify and address their needs and assist the bank in the achievement of its plan. à ¢Ã¢â€š ¬Ã‚ ¢ To succeed in the role, I am likely to enjoy relating to others whilst following a routine and adhering to procedures. The day to day basic duties and tasks as a bank cashier that I will be performing are: à ¢Ã¢â€š ¬Ã‚ ¢ Collect and check the working cash at the start of the day from Branch Manager and counter. à ¢Ã¢â€š ¬Ã‚ ¢ Check deposit slip with accuracy before receiving the deposits in the form of cash or checks. à ¢Ã¢â€š ¬Ã‚ ¢ Verify the customer signature on the cheques and account details and then process to the cash withdrawals. à ¢Ã¢â€š ¬Ã‚ ¢ Prepare travellers cheque, cashiers cheque and personal money order. à ¢Ã¢â€š ¬Ã‚ ¢ Explain the foreign currency regulations and fees before carrying out foreign currency exchanges. à ¢Ã¢â€š ¬Ã‚ ¢ Receive and verify the payments of loans, mortgages or any utility bills. à ¢Ã¢â€š ¬Ã‚ ¢ Record the transactions accurately, promptly and in a standardized format. Also issue transaction receipts to the customers. à ¢Ã¢â€š ¬Ã‚ ¢ Process the transactions like term deposits, retirement savings plan contributions, automated teller transactions, night deposits and mail deposits. à ¢Ã¢â€š ¬Ã‚ ¢ Respond to the enquiries of the customers about their accounts. à ¢Ã¢â€š ¬Ã‚ ¢ Attempt to resolve issues in the customers account. à ¢Ã¢â€š ¬Ã‚ ¢ Explain and promote banks products or services like travellers cheques, savings bond, money orders and cashiers cheques to existing customers. à ¢Ã¢â€š ¬Ã‚ ¢ Organize the money received in the cash box and coin dispenser as per the denominations. à ¢Ã¢â€š ¬Ã‚ ¢ Compute the financial fees, interest or service charges applicable to the customers account. à ¢Ã¢â€š ¬Ã‚ ¢ At the end of the day or shift, I will have to balance the currency, cash and cheques in the cash drawer. In order to carry out all the above mentioned duties effectively, I must possess strong arithmetic skills, customer service orientation, proficiency in computers and related software, problem solving skills, honesty and integrity and stress tolerance abilities. My academic qualification for this position: Generally, there are no formal entry qualifications. Some employers specify four GCSE (A-C)/S grades (1-3) including English and Maths. Personal qualities are often equally as important as qualifications. Previous experience and knowledge in the similar field is also necessary. As I am graduating now in BBA from a renowned university, I must qualify for this position. I also have a good result including Maths and English in my GCSE. My desired hours and work environment: As I can see many cashiers working in the bank, so my expected working hours will be 9 to 5 from Monday to Friday including Saturday on a rota system. The most of the bank cashiers usually work behind a glass fitted screen with a number of customer services at desks in the front office of the branch. Bank cashiers are provided with a corporate uniform. Cashiers may be posted to other locations temporarily, where several branches exist within a town or area. Expected Annual Salary and Benefits: As a new bank clerk my salary will start between  £8750 and  £10500 depending on the size of the bank. In the course of my experience I will be earning between  £10,500 and  £16,000 a year. As a senior cashier or specialist customer service adviser I may earn between  £13,000 and  £23,000. Many banks have profit-related bonus schemes. Other benefits can include subsidised mortgages, loans, pensions, share options and insurance cover. Opportunities: As a bank cashier I may be promoted to senior bank cashier, a specialist customer service advisor, trainee manager and then branch manager. I have also some opportunities at the head offices of banks in the treasury, training, information technology and human resources departments or in merchant or investment banking and international divisions of the larger banks. With recent advances in IT and communications technology, there are many opportunities available in regional processing and call centres. Taking the next step of my career as Head Teller, this is the first line manager directly responsible for the tellers although they perform the same tasks this person has more experience in this field and has hands on knowledge of the job so the other tellers refer to her if they have any suspicions or queries about a particular transaction. She has to authorize transactions for above a particular amount of money which is usually set by the branch manager or head of operations. She usually has the highest amount of cash in her custody and if the other tellers need cash she transfers it to them rather than the vault custodian having to go to the vault every now and again depending on how busy the branch is. She is also responsible for the well being of the other tellers when it comes to taking their breaks, the tidiness of their work stations and to ensure that they abide by the rules and regulations of the bank. THE QUALITIES OF A GOOD HEADTELLER (KSA) You must always act professionally, set international standards, remain focused and work hard, accept results within your territory, be open to coaching, respond positively to feedback, compete effectively and win so that together we can celebrate success. à ¢Ã¢â€š ¬Ã‚ ¢ Very honest with an impeccable character. à ¢Ã¢â€š ¬Ã‚ ¢ Has a friendly personality. à ¢Ã¢â€š ¬Ã‚ ¢ Is meticulous and pays attention to details. à ¢Ã¢â€š ¬Ã‚ ¢ Works under pressure. à ¢Ã¢â€š ¬Ã‚ ¢ Very conversant with numbers. à ¢Ã¢â€š ¬Ã‚ ¢ Able to change at short notice and is innovative. à ¢Ã¢â€š ¬Ã‚ ¢ Is fast and able to resolve issues quickly. à ¢Ã¢â€š ¬Ã‚ ¢ Very vigilant and takes all transactions serious. à ¢Ã¢â€š ¬Ã‚ ¢ Very patient and tolerant. à ¢Ã¢â€š ¬Ã‚ ¢ Respects all policies and procedures of the bank. à ¢Ã¢â€š ¬Ã‚ ¢ Quick in counting cash and at the same time able to detect bad notes. Vault Custodian; By the age of 24 year, I need to be a vault custodian. In the banking system, it is one of the most important positions where sensitive security issues are related in this position (Vault Custodian). I will have to do some creative works which are security involved. Like that I will be given promotion to go next post and that will be my dream job. I will have a lot of responsibilities to continue all baking activities properly and perfectly. Some of important activities I will have to perform those are (important activities related with this position) given down. http://files.turbosquid.com/Preview/Content_2009_07_15__03_14_54/Vault1.tgac4644f2f-ec04-4493-ae35-34081a2706d0Large.jpg Responsibilities of a vault custodian: Basically, I will have to use my skills, knowledge and abilities those are vital for doing things right. However, some essential activities, vault custodian, are mentioned bellow. First of all, In front of three people or individuals, I will have to close and open the vault at all the times. I will do compile all the security transaction records. Basically, I will be allowed to enter or go to vault. All the times, I will do delivery and receive securities like gold box, precious jewellery etc. To and from the vault. All securities will be deposited to bank and those calculations and monitoring will be my main job. Basically, I will have to write down the time when I opened and closed the vault. Because, it is really sensitive and safety issue for bank. When I will receive any types of precious things from customer then I will have to make sure that I did signature and description of the things which I have been given by the customer. Basically, I will need to write the details of the single or particular deposit. When anything will be pushed to the vault it is essential that make sure the account holder name and account number accurately. It is very important that release the deposit from the vault depositor (authorize) own decision. As a vault custodian I will have some important activities which are supervise the tillers and auditors. And, observing the all others activities of different other junior level activities. Basically, vault custodian just one step down the branch manager who needs to do almost same job like manager. Cash will be deposited overnight in main vault under joint custody of the dead teller and a designated bank staff. Finally I will strive forth to occupy the post of the branch manager of the bank.   Ã‚        Ã‚  The last stage of career plan is Branch Manager in a Bank .That is the dream job after passing through all the consecutive jobs successfully to reach in this position. Lets now look at the roles and responsibilities of a Branch Manager of a Bank.   Ã‚         The role of a branch manager is multifaceted. He is responsible for the overall leadership, sales force, operation and financial goals of the branch they manage. The branch manager must be familiar with the all the products and services offer by a bank and he should also be sales oriented. SALES:                Being a branch manager you are responsible for the success and failures of the goals and objectives. You should have Leadership qualities which influence the team members to motivate towards work; this will help to achieve the goals and objective. You should have an excellent communication skill to communicate with the employee, customers and society as you will be representing the bank with in the community. Other responsibilities include creating good budget sales and planning to monitor and act upon it. ADMINISTRATION:   Ã‚               Being an branch manager you will be responsible for making sure that work flows run smoothly .You are also responsible for the security and appearance of the branch facilities. You must be aware of employee or staff requirements .In any conflicts or if any problem arises which involves staff and customer a branch manager should be able to solve it effectively move ahead to achieve the goal. The other responsibilities of an branch manager include to keep an duplicate key of custody, to ensure the assets are in proper condition, to sanction the staff leave. FINANCE:             The role of a manager in a finance department is to ensure and to look after that the account Officer is maintaining proper books of accounts including basic accounting controls, for e.g. day to day cash in out, etc. She/he must ensure that all the expenses are incurred under the limit of the budget. Yes at last, finding my self in this position is in other words a dream come true. The dream I cultivated in my mind while still young has come to reality. It was not easy for me going though all those step due to the facts that; They was great competition in achieving that same post, they though time that I had to go out of my way to meet up with the customers demand and the expectations of the company, I had to match up my daily life and my work life, I had to put in great effort in my studies and I had to work as a team with colleagues that dont like me. To go through all this I had to be, flexible, enthusiastic, charismatic and very creative. Even at some point I had to employ characteristics which are not a part of my. Though through though times I had faith and it kept me going. And I will always give thanks to those that supported me in achieving my dreams like my colleagues, superiors, friends, family, and my profs. So go forth and chess your dream and never stop, Till it is accomplished. Dont forget destiny, faith, dreams, these unstoppable ideas are held dip in the heart of men. As long as they are people who seek freedom in this life, this things shall not vanish from the earth.

Free Hamlet Essays: Importance of Minor Characters :: GCSE English Literature Coursework

Importance of Minor Characters in Hamlet  Ã‚   A now-dead philosopher once said that people need three relationships in life—confidant, lover, mentor. Horatio acts as Hamlet’s confidant, fulfilling that relationship for Hamlet. As a result, we can contrast Hamlet’s dialogue with Horatio to Hamlet’s soliloquies. In Act III, Scene 2, lines 65-70 Hamlet tells Horatio about his idea: to use the players to prove Cladius’s guilt. There is a play to-night before the king; 65 One scene of it comes near the circumstance Which I have told thee of my father's death: I prithee, when thou seest that act afoot, Even with the very comment of thy soul Observe mine uncle†¦ 70 Hamlet isn’t commanding Horatio to do this—the relationship isn’t based on Hamlet’s princehood. Hamlet has fully told Horatio what he suspects. He has confided in Horatio. From our perspective as readers, this relationship gives us insight into Hamlet’s state of mind. One great question about Hamlet is whether Hamlet is mad. The things Hamlet tells Horatio indicate that Hamlet is perfectly sane. Hamlet declares (alone) in Act II, Scene 2, line 535-538, "Why, what an ass am I! This is most brave,/ That I, the son of the dear murderà ¨d,/ Prompted to my revenge by heaven and hell,/ Must like a whore unpack my heart with words." These lines alone don’t point toward or away from madness. But look at it with III, 2, 65-70 in mind. We see him resolve to prove Cladius’s guilt; understand the situation as it really is; and talk with Horatio, telling him how he feels. All these things show Hamlet as rational, calculating, perceptive—sane. And we know this because Horatio is there. In Act V, Scene 2, Hamlet stabbed Laertes, watched his mother die, and poured poison down his uncle’s throat. How can we possibly know what Hamlet is thinking, especially because he will soon be dead himself? Horatio the Confidant is there, the good friend who will listen to Hamlet, who would kill himself to follow Hamlet, who vows to devote his life to Hamlet’s message. Another big question about Hamlet: Did Hamlet’s revenge come at too great a price? It’s a judgment call: the evidence can be interpreted either way. That there is evidence at all is due to Horatio. In lines 321-328, Hamlet tells Horatio this: As thou'rt a man, Give me the cup: let go; by heaven, I'll have't. O good Horatio, what a wounded name,

Death of a Salesman and A Raisin in the Sun

â€Å"May I never wake up from the American dream. † Carrie Latet describes the most sought after dream: the dream of a house surrounded by a white picket fence, the dream people work their entire lives for, the dream people fight wars for: the American dream. However, America’s rise to industrialism in the 19th and 20th centuries replaced this dream with the desire to get rich fast. This change led people to believe that it is possible, common even, to obtain wealth rapidly; yet this is not the case. Sometimes, when an individual is unable to acquire such extreme wealth, he create a sense of false reality for himself, his common sense is blurred, and he sees opportunities where there are none. Characters Walter Lee Younger and Willy Loman are prime examples of this, both pinning their hopes on unattainable dreams to hide the feelings of failure. The theme of illusion versus reality is present in both Lorraine Hansberry’s A Raisin in the Sun and Arthur Miller’s Death of a Salesman through the portrayal of main characters Walter and Willy in their struggles for happiness and prosperity. Although the two characters have similar dreams, Walter, a dynamic character, breaks through the fantasy while Willy, a static character, remains trapped in his illusion. Willy Loman has a very specific dream, a contorted version of the American dream. Willy dreams of being successful and providing for his family, but also to be popular and well liked: a spin off the classic American dream, which is generally just to have a happy life. Driven by his need for success and popularity, Willy ignores his calling for nature and throws all his heart into becoming a salesman. Willy is enthralled by the story of Dave Singleman, his inspiration and idol. â€Å"I realized that selling was the greatest career a man could want. ‘Cause what could be more satisfying than to be able to go, at the age of eighty-four, into twenty or thirty different cities, and pick up a phone, and be remembered and loved and helped by so many different people† (Miller 81). This story is the sole reason for Willy’s desire to be a successful salesman, but what he does not realize is that Singleman’s case is one in a million. Although he doggedly pursues a career in selling, Willy also recognizes his need and desire for nature in his retirement plans. As he tells Linda, â€Å"Before it’s all over we’re gonna get a little place out in the country, and I’ll raise some vegetables, a couple of chickens . . . † (72). However, his failure to acknowledge nature as his true passion fuels his failure in the business world as well. Denis Diderot concludes, â€Å"Only passions, great passions, can elevate the soul to great things. † Tempted by success and money, Willy veers from his passion for the outdoors towards business, for which he has little passion. The theme of nature is prevalent from the play’s beginning as, â€Å"A melody is heard, played upon a flute. It is small and fine, telling of grass and trees and the horizon. †(11). This specific tune is often associated with Willy’s character, distancing him from the environment, but emphasizing the connection Willy has to it. Many would argue, Willy has set himself up for failure by choosing the business career. In order to escape the feeling of dejection, Willy reverts to his falsely joyful past and creates multiple illusions for himself, seeing the world through a glass clouded with desire and failure. One of Willy’s greatest regrets is refusing to accompany Ben to Alaska. â€Å"If I’d gone with him to Alaska that time, everything would’ve been totally different† (45). Ben’s success in Alaska not only presents Willy with the possibility of money, but it would also satisfy his connection with nature. Ben’s voice in the play continually represents Willy’s resentment of his decision to stay, and his longing for a second chance to take the opportunity. Next, Willy fondly retreats to his past, a past glossed over in gold. Willy imagines a happy and cheerful history with his family, including his father, whom he never actually knew. Ben! Please tell about Dad. I want my boys to hear. I want them to know the kind of stock they spring from. † (48). This is ironic, because Willy doesn’t remember his father aside from his beard and his flute, so he would not know if his father would be someone to admire. Even though Willy does not have a job, he wants so badly to continue being a salesman that he still drives out to Boston and other cities, deluding his faithful wife, Linda Loman, and in part, himself, to think that he is going on important selling missions. Willy lies so convincingly that, when Ben proposes the idea of going to Alaska, a shocked Linda exclaims, â€Å"You’re well liked, and the boys love you, and someday – why, old man Wagner told him just the other day that if he keeps it up he’ll be a member of the firm . . . † (85). Linda is clearly oblivious to the fact that Willy is crestfallen and miserable. Willy even tries to prove to himself that he is happy, but the only true reason he remains a salesman is to gain the money he believes accompanies the job. Throughout Willy’s struggle, Charley, a FOIL to Willy, is constantly at Willy’s side helping him. Charley is Willy’s crutch, his reality check, and basically his only friend. While Willy fights to keep his family afloat, Charley has a steady job; while Willy manages his children’s lives, Charley leaves his only son, Bernard, to find his own path; while Willy loses his grip on reality, Charley has a firm grasp and a level head. Charley is the true example of the hard working, happy man achieving the American dream. Willy’s failure to recognize his own despondent state is primarily what causes his tragic downfall. As the play nears the end, Willy is faced with a decision. He knows that he will not be able to work much longer, and that at some point, he will have to rely on his sons. Willy also realizes that he has nothing to pass down to his sons. The solution he comes up with is suicide. Willy determines that this proposition is legitimate because it benefits his whole family. While talking with Ben, Willy justifies his decision by saying, â€Å"[Linda’s] suffered. . . Remember, it’s a guaranteed twenty-thousand-dollar proposition† (125-126). When Biff confronts him, Willy comes to an astonishing realization: â€Å"Biff – he likes me! (133). This only further deepens Willy’s desire to commit suicide, which would allow his family to collect the insurance money. However, the real reason for Willy’s tragic end is his static personality. His refusal to see the world as it is and his refusal to change means that he is veiled by his distorted vision of life forever. Willy is never able to break through his illusio n, truly believing that he is more valuable dead than alive. Finally, the decision is made and Willy commits suicide. â€Å"The car speeds off . . . moving away at full speed. . . The music crashes down in a frenzy of sound, which becomes the soft pulsation of a single cello string† (136). The rest of the Loman family is left alone, without the insurance money. As Charley sums up at the funeral, â€Å"He had the wrong dreams. All, all, wrong† (138). Willy died because he didn’t know how to forge his own path. Although he had the chance to turn back, he remained a salesman because he was in it for the money. Had he changed his mind and followed his heart, he would certainly have had an entirely different end. But that was his predicament: Willy Loman did not have the ability to change, something that Walter Lee Younger does have. Walter Lee Younger has dreams that are very similar to Willy’s: to provide for his family and to be successful. Unlike Willy Loman, though, Walter’s dreams of happiness for his family in addition to success. As an African American man, Walter constantly struggles against racial boundaries. The pressure to support his struggling family, including his sister and mother is a constant weight on his back. Walter informs Mama, â€Å"I want so many things that they are driving me crazy . . Sometimes it’s like I can see the future stretched out in front of me . . . Just waiting for me – a big, looming blank space – full of nothing† (73). Like any father or husband, Walter desperately wants a comfortable and content life. The tension between Walter and his wife, Ruth, partially stems from Walter’s inability to deal with his low income, low class job. â€Å"I open and close doors all day long. I drive a man around in a limousine and I say ‘Yes, sir; no, sir; very good, sir . . . that ain’t no kind of job . . . that ain’t nothing at all† (73). Not only is Walter dissatisfied with his job as a limousine driver, but he is embarrassed by it. Walter is desperate, but as a black man, his options for a new occupation are limited to those of a similar caliber to his current job. However, Walter finds an opportunity that could turn his life around. â€Å"I been out talking with people who understand me. People who care about what I got on my mind. † (87), â€Å". . . we got it figured out, me and Willy and Bobo† (33). Inspired by this new hope, Walter envisions a future of prosperity and happiness. This is mostly fueled by Walter’s idol: Charlie Atkins. Similar to Willy’s infatuation with Dave Singleman, Walter believes that Atkins, who owns a dry cleaning business which grosses $100,000 per year, is success incarnate. Atkins is Walter’s inspiration for his own dream of buying liquor store with Bobo and Willy Harris, which could be made possible by the insurance money from his father’s death. In addition to his dreams for himself, Walter also has dreams for his son. Like most fathers, he wants a better life for his son, â€Å"Just tell me where you want to go to school and you’ll go. Just tell me, what it is you want to be – and you’ll be it . . . Whatever you want to be – Yessir! You just name it, son . . . and I hand you the world! † (109). Although Walter has all the same dreams as a white man of his age, they are harder to obtain due to racial boundaries, and Walter must find a way to overcome these limitations. With so many things unperfected in his life, Walter sees money as a solution to his problems. For the Youngers, the symbol of money represents a new house, new clothing and shoes for everyone, especially forWalter’s son, Travis, more food for their table, education for Travis and Walter’s sister, Beneatha, as well as the down payment on Walter’s liquor store. When Mama questions Walter â€Å"How come you talk so much ‘bout money† (74), Walter responds, â€Å"it is life, Mama! . . . it was always about money, Mama. We just didn’t know about it† (74). It is ironic that Walter comments that money is life, because the most significant money in the Younger family comes from Big Walter’s $10,000 life insurance check. As Asagai explains to Beneatha, â€Å"Isn’t there something wrong in a house – in a world – where all dreams, good or bad, must depend on the death of a man? † (135). The illusion Walter holds that money is life contrasts with the reality that the money comes from death. Later, Walter becomes very frustrated as he realizes how unfair the world is, â€Å"Somebody tell me – tell me, who decides which woman is suppose to wear pearls in this world. I tell you I am a man – and I think my wife should wear some pearls in this world† (143). Because of all this pent-up regret and disappointment, Walter reverts to Willy Harris and Bobo’s plan for a source of comfort and hope. His desperation clouds his common sense, and when Mama entrusts him with the remaining insurance money, Walter invests all of it in the liquor store, even that intended for Beneatha’s education. Despite his poor decision, Walter has a â€Å"newfound exuberance† (112). He truly believes that this new deal will turn his family around in a new direction, â€Å"I got wings! You got wings! All God’s children got wings! † (125). However, things take a spin when Bobo arrives with the despairing news that Willy Harris, revealed as a con man, has disappeared with the money. Walter’s incredulity is clear as he realizes that all of the hope he has built up over the liquor store has disappeared like a flash of lightening. Now that all of the insurance money is gone on Walter’s watch, he is even more responsible for his family’s desperate state. Luckily, he is presented with a chance to redeem himself. Before the disheartening news that Willy Harris stole the Younger’s insurance money arrives, Walter is extremely confident. He is even willing to cooperate with Mama’s plan to move into their new house in Clybourne Park, a plan Walter had previously opposed. When Karl Lindner arrives to persuade the Youngers not to move into their new house, Walter confronts him. â€Å"We told him to get out! . . . Oh, we was some proud folks this afternoon . . † (142). However, after the terrible news of the lost insurance money is disclosed, Walter is not so sure-footed. He realizes the difficult financial situation, not to mention the peril that this move will put them in. Ruth, who desperately wants to move, reads her husband’s hesitation and questions him, â€Å"You talking ‘bout taking them people’s money to keep us from moving in that house? † (142) and Walter replies, â€Å"I’m telling you that’s what’s going to happen! † (142). Despite his strong opinion about not moving, Walter experiences a change of heart when Lindner returns. He realizes how much the chance to live is really worth as he sees the potential for Travis, Beneatha, and even for himself and Ruth, and how much the new house will help each of them to grow and flourish. Counter to Willy Loman, Walter learns to value life, learning that money does not necessarily give you a blissful, carefree life. Walter asserts to Lindner, â€Å"We have all thought about your offer . . . and we have decided to move into our house because my father – my father – he earned it for us brick by brick. . . . Travis . . . my son . . . he makes the sixth generation of our family in this country . . And that’s my sister over there and she’s going to be a doctor – and we are very proud . . . we are very proud people† (148). Walter’s dynamic character allows him to emerge from his black hole of despair, a trait that Willy Loman lacked, therefore triggering his own tragic downfall. Now that he is able to accept his mistake of losing all of the insurance money and has shattered the illusion that it is possible for everyone to be as successful and rich as Charlie Atkins, and that excessive wealth does not equate to happiness, Walter can fully appreciate his life, especially his loving family. From a first look, the Younger and Loman families could not be more different. Through careful analysis, though, one finds that they are astoundingly similar. Both working class families, they consistently struggle to maintain their current standards of living, a struggle made much more difficult by the expectant illusions Walter Lee and Willy cling to. The theme of illusion versus reality is vital in both A Raisin in the Sun and Death of a Salesman, demonstrating the harsh reality that a person’s life will never be perfect, and that some people will use heir imagination to fill in the gaps. The sad truth is that some people, like Willy Loman, are never able to break through the illusion. Bent on success and popularity, Willy renders himself victim to his mind forever, ending in death for him, and tragedy for his family. Others, such as Walter Lee Younger, possess the inner strength necessary to break free from this perfect, imaginary world to see that all they want, all they need, and all they seek, is right before them.

Article of Capital Budgeting Survey Essay

This research is motivated by two major factors: (1) the  over twenty year hiatus since the last thorough review ofthe capital budgeting survey literature, and (2) past appeals to the finance academic community by researchers to explore  neglected areas ofthe capital budgeting process. In response, and using a four-stage capital budgeting process as a guide, the authors review the capital budgeting survey literature  from 1984 through 2008 and find that some ofthe neglected  areas have infact been directly addressed. Unfortunately, the most prevalent focus of capital budgeting surveys continues  to be that ofthe selection stage. As a result, many areas ofthe capital budgeting process still remain relatively unexplored, providing numerous survey research opportunities. This research effort is motivated by two tnajor factors: 1)  the twenty year hiatus since the last thorough review of the capital budgeting survey literature, and 2) past observations and appeals made to the finance academic community by  fellow researchers to explore neglected areas of the capital budgeting process through more focused and directed survey  research. Richard M. Burns is a Professor of Finance at the University of Alabama at Birmingham, AL Joe Walker is an Associate Professor of Finance at the University of Alabama at Birmingham, AL. The authors wish to thank the Editor and the anonymous referee for their many helpful comments and suggestions. 78 The first factor stands on its own as justification for an update of the capital budgeting survey literature. The last comprehensive reviews were made by researchers Scott and Petty (1984) and Mukherjee (1987) over twenty years ago. Regarding the second factor, almost three decades ago, Kim (1979) noted that too much emphasis was being placed on methods of ranking and selecting capital budgeting proposals. Scott and Petty (1984) also noted the â€Å"†¦ disproportionate (unjustified) amount of time [spent] on a particular stage (financial analysis and project selection) †¦Ã¢â‚¬  Further, Gordon and Pinches (1984) generalized this complaint by arguing that â€Å"†¦the capital budgeting process must be viewed in its entirety.† Mukherjee (1987) agreed that â€Å"†¦ further survey efforts need to be devoted to understanding the entire process.† To address these two factors, the authors have provided a current review of the capital budgeting survey studies over the past twenty-four years. The results are reported in a four-stage capital budgeting framework that allows a more detailed and clear assessment of the appeals by past researchers. As a result, fertile areas for future applied research in the area of capital budgeting survey work are more easily identified and summarized. The organization of this paper is as follows. In Section I a four-stage capital budgeting process will be identified and used throughout the balance ofthe paper. It provides a useful framework to evaluate in more detail the most prominent capital budgeting survey literature reviews of the past, to highlight neglected areas of capital budgeting research, and to organize past appeals for future research in this area. In Section II this four-stage process will also be used to describe the procedures used in performing the capital budgeting 79 BURNS & WALKER – CAPITAL BUDGETING SURVEYS: THE FUTURE IS NOW survey literature update over the 1984-2008 period. Section  III will continue to use this framework to present the detailed findings while Section IV will provide an overall summary.  Finally, Section V will present conclusions, comments, and  insights for future survey research. I. Past Reviews and Appeals appears on an executive’s desk and all that is needed is for the manager to choose the project(s) with the highest expected payoff. However, as most managers quickly learn, this is not the case. Further, once projects are chosen, the evaluation  of an individual project’s subsequent performance  is usually either ignored or often inappropriately  handled.  Our contention is that the capitalbudgeting process must be viewed in its entirety,  and the informational needs to support effective  decisions must be built  into the firm’s decision  comprehensive reviews  support system. In the corporate finance  capital budgeting survey  literature  the  capital  The last budgeting process has been  were made by researchers Scott  described in terms of four The two most significant stages: 1) identification, attempts to assess the and Petty (1984) and Mukherjee 2) development,  3)  balance of research among  (1987) over twenty years ago.  selection, and 4) control.’  these four stages were those  The identification stage  of Scott and Petty (1984)  comprises the overall process of project idea generation and Mukherjee (1987), both of which occurred well over including sources and submission procedures and the twenty years ago.^ Scott and Petty provided a synthesis of earlier surveys of  incentives/reward system, if any. The development stage involves the initial screening process relying primarily large American firms and organized their analysis based on a upon cash flow estimation and early screening criteria. The three stage classification: 1) project definition and cash flow selection stage includes the detailed project analysis that estimation 2) financial analysis and project selection, and results in acceptance or rejection of the project for funding. 3) project implementation and review. Citing Gitman and Finally, the control stage involves the evaluation of project Forrester (1977), they noted that: †¦ project definition and cash flow estimation is performance for both control purposes and continuous considered the â€Å"most difficult† aspect ofthe capital improvement for future decisions. All four stages have budgeting process. The financial analysis and common areas of interest including personnel, procedures, project selection stage, which receives the most and methods involved, along with the rationale for each. attention in the literature, is considered the least All four stages are critical to the overall process, but difBcult ofthe three stages †¦Ã‚  the selection stage is arguably the most involved since it includes the choices of analytical methods/techniques used, Also covering surveys of large American corporations, how the cost of capital is determined, how adjustments for Mukherjee (1987) agreed that there had been too much projects risks are assessed and reflected, and how, if relevant, survey focus on the selection stage and not enough on the capital rationing affects project choice. The selection stage other stages as well as the overall capital budgeting process. has also been the most investigated by survey researchers, Paraphrasing that paper’s recommendations, it called for particularly in the area of selection techniques, resulting in more research into specific questions relevant for each stage. a relative neglect ofthe other stages. This in turn has led to For example, in stage 1, future surveyors were urged to appeals to future researchers to consider the other stages in investigate the reward systems, procedural aspects, and the their survey research efforts. As Gordon and Pinches (1984) organizational structure ofthe firm. In stage 2, more research note: was suggested on the topics of divisional vs. corporate Most of the literature on the subject of capital biases, strategic considerations, cash flow estimation budgeting has emphasized the selection phase, details, data details, cannibalization, risk, and inflation. giving little coverage to the other phases. Instead, Even within the more widely-studied Stage 3, neglected it is usually assumed that a set of well-defined capital investment opportunities, with all of the informational needs clearly specified, suddenly ^ o t e that these two reviews are only three years apart based on publication ‘See Gordon and Pinches (1984) and Mukherjee (1987). Scott and Petty (1984) use a similar 3-stage process. It is interesting to note, however, that an even earlier survey by Gitman and Forrester (1977) had used a 4-stage analysis. date, and that the latter does not cite the former, likely due to publication lags. As noted in the procedures section, this paper uses the Mukherjee format. Furthermore, the title of this paper derives from Mukherjee’s title. 80 areas were identified such as the rationale for the various methods used, how firms compute their cost of capital, the low rate of risk recognition, the associated low rates of risk adjustment and assessment sophistication, capital rationing (and the low usage of linear programming), and the details of authorization levels. Finally, with regard to Stage 4, more research was encouraged into the details of performance evaluation, how the company follows up on such evaluation, the details of expenditure control procedures, and the reward system for performance.’ How well these appeals have been answered with subsequent survey research is the primary focus of this paper. In the next section the authors describe the procedures employed to assess the effectiveness of these appeals made over twenty years ago. II. Procedures Consistent with the reviews by Scott and Petty (1984) and Mukherjee (1987), the following criteria were used to choose capital budgeting survey articles for inclusion in this review: the surveys had to involve large US firms, they had to be broad-based (not focused on one particular industry), and they had to be published in mainline academic journals post-1984. Using these criteria resulted in the selection of the nineteen capital budgeting surveys included in Figure 1.† The Figure provides, in chronological order, the survey year (which in all cases differs from the publication year), authors, research method, usable responses and the audience surveyed. Each of these 19 survey articles was then thoroughly examined in an effort to identify the stages and areas within each stage that the survey covered. The results of this process are reported in Figure 2 and consistent with Mukherjee’s (1987) chronological ordering in a tabular form indicating areas of investigation within the four stages ofthe ‘These more specific questions are largely paraphrased from Mukherjee (1987) and are not fully exhaustive. The interested reader is, of course, encouraged to read this very thorough article in its entirety. †¢Ã¢â‚¬ ¢The initial search using Proquest (ABI Inform) specifying â€Å"capital budgeting surveys† in scholarly journals after January 1, 1984, yielded over two hundred results. However, the great majority were published in the non-mainline journals, including many strictly practitioner (trade journal) outlets and /or were focused on a particular country or industry and thus eliminated by the screening criteria. To insure against missing articles due to any limitations ofthe ABl database, the authors checked the references ofthe surviving articles, and in addition, conducted a manual search ofthe most cited finance journals tables of contents and the reference sections of the various survey articles found. JOURNAL OF APPLIED FINANCE – ISSUES 1 & 2, 2009 capital budgeting process.’ It should be noted that the Figures herein were slightly altered from Mukherjee’s original format to better focus on selected issues that were identified specifically as areas of neglect. For example, the category of â€Å"techniques† was divided into â€Å"techniques used† and â€Å"reasons for techniques used†. Similarly, the risk category was divided into â€Å"risk recognition†, â€Å"risk assessment†, and â€Å"risk adjustment†. III. Findings by Stage A quick perusal of Figure 2 reveals an obvious concentration of â€Å"checks† in Stage 3 (selection) similar to the previous findings of Mukherjee. Although a careful look at some of the stage categories individually indicates that several neglected areas have been researched over the period, there is still an obvious and relative lack of research into Stages 1, 2, and 4. To further assess the effectiveness ofthe research appeals, the analysis and reported results in this section will be ordered by the four stages.   Summary comments are provided only  on those surveys which provide a significant contribution to a previously neglected area of capital budgeting survey research. As a result, the findings of Bierman ( 1993), Gilbert and Reichert (1995), Payne, Heath, and Gale (1999), and Ryan and Ryan (2002) are not summarized. A. Stage 1 : Identification Suggested areas of study within this stage include how project proposals are initiated, whether the proposal process is on-going or on an â€Å"only-when-needed† basis, at what level projects are generated, whether there is a formal process for submitting ideas, how that process works when present, and if there is an incentive system for rewarding good ideas.* Unfortunately, there has never been an in-depth survey focused on this stage, leaving no question that it remains strongly neglected. The only contribution of a minor nature to this topic is the incidental finding by Stanley and Block (1984). They found that in over 80% of the responding firms that capital budgeting proposals originated bottom up ‘In the 1987 article, note that on Figure 4, the stages are described somewhat differently from the discussion in the paper itself Specifically, in the body of the paper, the four stages are: (1) identification, (2) development, (3) selection, and (4) the post-audit. But in the table, the 4 stages are idea generation, proposal development, selection of projects, and control or performance evaluation. ‘As in footnote 3, the following suggested areas of study for all four stages are largely paraphrased from Mukherjee (1987).. 81 BURNS & WALKER – CAPITAL BUDGETING SURVEYS: THE FUTURE IS NOW Figure 1. Surveys of Capital Budgeting of Large US Firms Surveyed Year(s) Survey Author(s) Method Number of Usable Responses 1982 Stanley & Block (1984) questionnaire 121 1986 Pruitt & Gitman (1987) questionnaire 121 1986 Pohlman, Santiago, & Markel(1988) questionnaire 232 1988 Gordon & Myers (1991) 1988 1992 1990 1991 1992 Myers, Gordon, & Hamer(1991) Bierman (1993) Porterba & Summers (1995) Gilbert & Reichert (1995) Trahan & Gitman (1995) Sample CFO’s of Fortune 1000 multinationals VP Finance or Treasurer of largest industrials in Fortune 500 CFO’s of Fortune 500 questionnaire 282 questionnaire 282 questionnaire 74 Executives and capital budgeting directors of large US industrials except utilities and transportation Large public firms from FASB Data Bank 100 largest of Fortune 500 questionnaire 160-228 CEO’s of Fortune 1000 questionnaire 151 Fortune Magazine Directory CFO’s questionnaire 84 CFO’s of Fortune 500 + Forbes 200 Managers of foreign manufacturing subsidiaries of US industrials 1992 Shao & Shao (1996) questionnaire 188 1992 Burns & Walker (1997) questionnaire 180 Fortune 500 7,27,10 7 best-sellling texts, 27 prestigious CFO’s, 10 leading financial advisors 1996-97 Bruneretal(1998) telephone survey 1992-93 Mukherjee & Hingorani(1999) questionnaire 102 Fortune 500 CFO’s 1994 Payne, Heath, & Gale (1999) questionnaire 155 USA and Canadian based companies from S&P Compustat database questionnaire 111 CFO’s from Fortune 1000 questionnaire 392 CFO’s from FEI corporations interviews 39 executives of large companies questionnaire 205 CFO’s of Fortune 1000 questionnaire 40 top-ranking officers of Fortune 1000 1997 1999 1999 1999 2005 Gitman & Vandenberg (2000) Graham & Harvey (2001) Triantis & Borison (2001) Ryan & Ryan (2002) Block (2007) z †¢^ II O) (2002) ueAy â€Å"? uBAy o (0 O) †¢a (0 a> i2 i2 o u. a> †¢o (0 (O O) I O) †¢o 3 OQ a re U 3 D) < ‘O6B!)UB9 ‘UBLU|L|Od S (8861.) |S>tJeiM (Z86l.)ueaJi!O’SH!n.id (W6l)>|00ia’8’^8|UBis |L Idea Generation |A. Source of Origination |B. Reasons for Idea Origination |C. Process of Origination & Submission |D. Time Pattern of Origination 1II. ProposalDevelopment |A. Level at Which screening Takes Place |B. Screening Process  ¡C. Cashflow Estimates (and forecasting) |D. Responsibility for Budget Preparation (personnel) |lll. Selection of Projects |A. Classification of Projects for Economic Analysis B. Personnel (Department) Responsible for Analysis C1. Listing Techniques Used |C2. Reasons for Techniques Used Dl. Risk recognition D2. Risk assessment D3. Risk adjustment El. Capital Rationing: How Extensive? E2. Capital Rationing Rationale E3. Capital Rationing Methods Used F. Cost of Capital G. Project Approval |IV. Control (or Perfonnance Evaluation) A. Extent of Use of Post Audit B. Personnel Involved/Procedure C. Performance Measurement D. Use of Evaluation (Punishment/Reward/Etc.) 1* Surveys in this exhibit appear in chronological order of their publication. 82 JOURNAL OF APPLIED FINANCE – ISSUES 1 & 2, 2009 o o o o CM o ( ¿ooz) >iooia 6jaquapueA ‘S UBLUIJO (0002) (6660 9|B0 ‘S ‘MIB9H ‘auÄBd (666 O !UBJo6u!H ‘S aa[jaLj>|ni^ -?†¢ -y -7-?†¢ -y (1.002) uosuog pue suueui -?†¢ ~y (1.002)’^SWBH S lUBMBJO ~7-?†¢ -?†¢ -?†¢ -?†¢ -y -?†¢ (866l.)|Bà ­a.iaunjg -?†¢ CO t ^ -y ( ¿66l)J8>lieM’8SUjng (966l†¢)oeL^S’8OB^s -y (9661.) uBUjJio ‘S UBUBJi -y (S66l.)weM0!ay’s;jaqi!9 -y (9661-) sjauiujns ‘s eqjapod -?†¢ -y m ( £661.) ueuuaig -y -y â€Å"5 ‘a. n O (1-661-) jaoiBH ‘S ‘uopjoo ‘sjaA|/| ~y -y ~y -y (1.661.) sjaÄ|/l’8uopjoo -y ~y -y -y -?†¢ -?†¢ -y ~y -y -y to -y 00

maximilian I essays

maximilian I essays 1459-1519, heiliger rmischer Kaiser und deutscher Knig (1493-1519), Sohn und Nachfolger des heiligen rmischen Kaisers Frederick III. Als Kaiser strebte er, starke imperiale Fhrung wiederhzuerstellen und dringend bentigte administrative Verbesserungen im in zunehmendem Maße dezentralisierten Reich zu erffnen. in der inlndischen und fremden Politik jedoch opferte er die Interessen von Deutschland als Ganzes des aggrandizement des Besitzes Hapsburg. Expansion ber Krieg und Verbindung Verbindung Maximilian (1477) zu Mary von Burgunder bezog ihn zum Schutze von ihrer Erbschaft einschließlich Burgunders, der Provinzen Netherland und Luxemburgs gegen die Designs des Knigs Louis XI von Frankreich mit ein. Durch Tod Marys (1482), hatte Maximilian Franche-Comt, die Grafschaft von Artois und die niedrigen Lnder gesichert, aber ihn erbrachte ein betrchtliches Teil von franzsischsprechendem Burgunder im Vertrag von Arras von 1483 (sehen Sie Arras, Vertrag von). In 1486 wurde er Knig des Romans (, Kaiser-whlen Sie d.h.), gewhlt und einen zunehmenden Anteil der imperialen Aufgaben bis Tod seines Vaters annahm. Nachfolger Louis XI's, Charles VIII, abgelehnt dem Vertrag; außerdem anstatt, Tochter Margaret Maximilian von Ãâ€"sterreich zu heiraten, erzwang er Anne von Bretagne in das Heiraten er (1491), abgesehen von ihrer Verbindung durch Proxy zu widowed Maximilian das vorhergehende Jahr. Erneuerte Kriegsfhrung mit Frankreich wurde vorbergehend durch den Vertrag von Senlis (1493) vereinbart, der im Allgemeinen den Status Quo beibehielt; aber die Frage Burgundian blieb eine Schlsselausgabe in den Relationen Hapsburg mit der franzsischen Krone. Maximilian wurde verwickelt in den italienischen Kriegen , um den Rest der Erbschaft Burgundian wiederzugewinnen und auch Dominions Hapsburg zu erweitern und jede mgliche Extension ...