Efficient Market Hypothesis Essay Example | Topics and Well Written Essays - 2500 words

Efficient Market Hypothesis - Essay Example Importance of efficient market hypothesis can be identified from empirical implications of it in many pieces of research and studies by empirical researchers. Literature on efficient market hypothesis before LeRoy (1973) and Lucas (1978) was evolved around the random walk hypothesis and magnitude model. These are statistical description of price changes that can be Lo and McKinley (1988) forecasted and initially taken to be implication efficient market hypothesis. The first test of random walk hypothesis was developed by Jones and Cowles (1973), and they compared frequency sequence and reversal in historical return of stocks. They identified same sign of former pairs of consecutive return and the opposite sign of latter pair of consecutive return. Osborne (1959), Fama (1963; 1965), Cootner (1962; 1964), Fama and Blume (1966) conducted tests of random walk hypothesis and supported previous studies of random walk hypothesis using historical stock return. Lo and McKinley (1988) reported that variance of two week stock return is double the variance of one week stock return. They conducted this test on US indexes from 1962 to 1985. French and Roll (1985) identified from their study that variance of stock return over weekends and holidays are much lower than variance of week days, especially first three weekdays of a week. Poterba and Summers (1988) and Fama and French (1988) found out negative correlation in US stocks indexes return from stock return data of 1962 to 1986 actually occurs.... In the process they use different forecasting techniques as well as some valuation methods. The combination of the techniques helps them in their decisions regarding investments. However, the hypothesis states that the techniques are not effective and no one has the capability to predict the outperformance of the market. If the investors enjoy any advantage, it is supposed not to exceed the incurred cost of transaction and research (Timmermann, & Granger, 2003, p.5). Literature review The origin of efficient market hypothesis can be traced back in the studies of two individuals in 1950s. One is Paul A. Samuelson and the other one is Eugene F. Fama. They identified the notion of market efficiency from two different research agendas. Samuelsson’s contribution in the invention of EMH was great, and the researcher summarized that in efficient market, changes in asset (stocks, bonds and other traded instruments) price can be forecasted if these are properly anticipated. This means price should fully incorporate all the information and expectation of all the market participants. In contrast to Samuelsson, Fama concentrated on statistical measures of stock price and resolving the debate regarding technical analysis and fundamental analysis of stock price. This researcher summarized that current price stocks fully reflect all information available to market participants. These two empirical research studies on this critical area of finance have helped many researchers thereafter to develop several econometric single or multifactor linear asset pricing models (Seweel, 2011, p.4). Random walk hypothesis Importance of efficient market hypothesis can be identified from empirical implications of it in many pieces of research and studies by empirical researchers.

Identify the pathways and stores of water, sediment and nutrients from Essay

Identify the pathways and stores of water, sediment and nutrients from the uplands to the coast in typical northwest England - Essay Example As water flows naturally to the sea, it forms various features as it interacts with various factors on its way. In some cases, the water gets stored temporarily in reservoirs, most of the time moving at various speeds. Depending on the speed of movement, the water collects, transports and deposits objects including soil, rocks, and wood. Using these objects, the water at high speed can create new features as the objects brush against other objects in the water path. Water also dissolves nutrients and minerals while suspending tiny particles which are later deposited as sediments at lower speeds. This paper is dedicated to discussing the water pathways from the typical northwest England catchments and its flow to the sea. 2). Definition of terms Pathways: In the context of this essay, pathways refers to the routes of flow traveled by water, nutrients and sediments as they move from the uplands to the coast. ... Sediments: These are materials broken down by the processes of erosion and weathering and are subsequently transported through the actions of wind and liquid water and glaziers. These materials are naturally occurring. Nutrients: These are chemicals required by organisms for them to live and grow well or a substance required for the process of metabolism and must be taken from the organism’s environment. Uplands: Refers to areas of higher altitudes Coast: Refers to a strip of land bordering the sea and as such, it is an area of low lower altitude. Catchments: Refers to a main source, the region from where a substance or material is supplied to the rest of the areas that form part of the material’s or substance pathway. 3). The pathways and stores of water, sediment and nutrients from the uplands to the coast in typical northwest England catchments a) Pathways and stores of water from the uplands to the coast in typical northwest England catchments The pathway of water i n any particular region typically begins with the hydrological cycle. At the beginning of this cycle, water is changed from liquid into its gaseous, vapour, which ascends to the higher altitudes. Here, it is cooled and falls down as rain, which falls either directly as into the various rivers, lakes and man-made reservoirs or flow into them as surface runoff. Vegetation are important in making this water to sip into the ground from where they flow as underground water till they join rivers, lakes or man-made reservoirs. In typical northwest England catchments, the water moves along various pathways. These include fast ways for example overland flow, or drain ?ow, shallow sub-surface ?ow and slower pathways. The slower

Gender and Leadership Essay Example for Free

Gender and Leadership Essay The seemingly never-ending battle between the descendants of Mars and Venus has permeated the corporate setting. The workplace has transformed into a fierce arena that directly witnesses the competition between men and women. Who performs better? Who is a better leader? These questions are often encountered within corporate environments. However, based from a critical examination, one cannot help but wonder whether gender readily define and determine the individual’s competence and efficiency. This is most especially true as for the case of relegating leadership and managerial roles. Despite of strong efforts to eliminate, if not totally, eliminate gender bias, women continues to suffer from discrimination and unequal distribution of power. On a deeper context, this dilemma is triggered not by the apparent lack of talent and skills of women. Moreso, the unequal treatment is attributed to one’s gender or sexual orientation. Discussion Former President Bill Clinton’s statement which places heavy emphasis on having a â€Å"new gender of leadership† can be interpreted in several ways. First, the said statement may pertain to the act of reconstructing the gender-based leadership roles in the corporate environment. As previously mentioned, the work place is highly patriarchal orientation. Having said this, such scenario therefore demands not only gender sensitivity, but more of recognizing and acknowledging the contributions of women employees. Oftentimes, women, despite of their hard work, are frequently neglected and taken for granted. Thus, having a new gender then, equates to providing new perspectives and approaches on how to address gender-related issues such as leadership, for example. Secondly, the statement may also refer to the actual replacement of male leaders. Clinton’s argument could be also understood as a rallying cry to eventually topple patriarchal hegemony in the corporate setting. But then again, regardless of the various interpretations given to such statement, one thing is clear—gender equality and opportunity should be readily exemplified in the workplace (Davidson Burke, 2000). Men and women should be given equal chance to pursue career growth and at the same time, showcase their skills and abilities. However, the bitter truth is that women employees continue to struggle and feasible solutions have not been made. There are different factors that seem to exclude women from the core functions of the workplace. First of all, women are constantly subjected into positions in which they cannot fully participate in decision-making activities. Sound and healthy decision-making skills are strict prerogatives of a competent leader. However, it seems impossible for women to develop such skills since they are denied of the chance and opportunity to put their talents into the test. In addition to that, the patriarchal ethos that prevails in corporate arenas leaves no choice for women but to continuously exert more effort in order to prove their value and worth. Relatively, the normative leadership traits attributed to women are also one of the reasons behind the lack of opportunity to acquire leadership roles. In many cases, women as leaders, are often questioned and to a certain extent—criticized when it comes to formulating concrete decisions (Hartmann-Tews Pfister, 2003). Women are perceived to constantly change their minds, which is a proven weakness, most especially in highly critical situations. In addition to that, women as overtly emotional beings are also being challenged since leadership roles heavily demand an authoritative figure. Also the idea that male leaders, are more likely to take risks, thus, manifesting a strong sense of competence, further subjects women into derogatory positions. But nonetheless, a careful analysis shows that the above-mentioned leadership characteristics of women are highly stereotyped. The truth of the matter is, gender can hardly affect the individual’s management and leadership traits. These two core functions are not innate—rather it is developed and improved via constant exposure to situations that require a pragmatic approach. Yet, as explained, exposure and career opportunities are often denied from women. Conclusion The call for a new gender in leadership, more than anything else, serves as a challenge to the whole corporate set-up. Everyday, a new breed or generation of efficient leaders and managers shall come into life. However, it is important to note that these commendable leaders are not determined by their gender. Regardless of whether an individual is a man or a woman, the ability to rule and govern are not exclusive to a specific gender. Being a leader is a right, not a mandated privilege. Therefore, in such a case in which discrimination and inequality may still persist, indeed, former President Clinton is correct; a new gender of leadership must be readily formed and established. However, this gender should be characterized by neutrality and not by socially-constructed terms such as being â€Å"male or female. † References Davidson, M. and Burke, R. (2000). Women in Management. London: Sage Publications Ltd. Hartmann-Tews, I. and Pfister, G. (2003). Sport and Women. London: Routledge

Uniform costing

Uniform costing Uniform costing is not a separate or distinct method of cost accounting like job costing or process costing. It is only a system of cost accounting to be used by the members of the industry or trade association. It involves adoption of same costing principles, practices and procedures by the individual members of the industry for inter-firm comparison.The system is made operative through Trade Association or Chamber of Commerce or some other central agency. Its underlying idea is that whatever costing methods are used, the same should be applied uniformly by all the members of the industry. Before a uniform costing system is applied, it is utmost necessary to educate the members about the desirability of this system and its underlying principles. Uniform costing is not a new concept. It was first introduced by the National Association of Stove Manufacturers of U.S.A. which developed a uniform formula for use by its members for costing industrys products. Similarly, a uniform costing system was adopted for printing industry in the United States. But in U.K., British Federation of Master Printers was the first organisation to introduce a uniform costing system. In India, it is being used in coal industry, steel industry and fertiliser industry. There is a good scope of using uniform costing system in other industries too. CIMA defines uniform accounting as â€Å"a system, using common concepts, principles and standard accounting practice, adopted by different entities in the same industry to facilitate inter-firm comparison.† Application Of Uniform Costing System:- Single Company having a number of factories located at different places producing similar products or performing similar operations. For example, this system is being used by Associated Cement Company for its plants. In this case, management prescribes a set of forms and procedures for the plant and all the records are maintained in a uniform manner. A number of companies within the same industry. Normally Trade Associations or Chambers of Commerce coordinates the function of uniform costing system. Members of the association are required to maintain uniform costing records which are helpful in measuring the operating efficiency of its members. It ensures that cost data submitted by member companies are comparable and consistent. Introduction of Uniform Costing helps the companies to submit reliable cost data to price fixing bodies, like Bureau of Industrial costs and Prices or other Govt. departments to determine the average cost and fixing the fair selling prices of various products. Objectives Of Uniform Costing:- To have a reliable cost data for inter-unit or inter-firm comparison of costs. To compare the operational efficiency of individual members against industrys overall performance of all member units. To fix a common selling price for the industry as a whole on the basis of cost of production of all member units. To reveal lines of individual products which have been marketed on an unprofitable basis. To reveal lines of individual products which have been marketed on an improfitable basis. Member-companies adopt one best method of cost accounting system known to the industry. This eliminates unsound method and saves costs required in perfecting systems through expensive experimentation. New companies can adopt it as a ready-made system. Other companies can adopt the common system for improving their existing system. It develops a sense of awareness for production efficiencies within the industry for controlling costs. It provides standard guidelines for pricing of products and indicates how prices fixed below la certain level may be self-defeating even though it may bring additional sales. It is beneficial to all the competing companies for filling tenders and quotations and consequently ill-effects of competition are avoided. In case of ‘cost-plus contracts, uniform costing facilitates preparation of cost sheets on commonly accepted standard principles and practices. Thus, it helps early finalization of ‘cost plus claims. It helps the Chambers of Commerce and Industry to present their case to Government on matters such as tariffs or export incentives. It encourages research and development work at comparatively low cost to the member-companies. The benefits of research and development carried out by large scale organized units can be shared by the small units. It enables the member-companies to receive the services of cost experts jointly with the minimum expenditure. It facilities the introduction of uniform wage structure for the industry as a whole. It serves as a pre-requisite to cost audit and inter-firm comparison. The various member-units in an industry differ widely with regard to location, age, condition of plant and degree of mechanization. This difference is sometimes so wide that it does not permit efficient use of uniform costing system. For smaller units, this system may not commensurate with the benefits derived. Uniform costing system may not commensurate with the benefits derived. The standard terminology used in the uniform costing system may not be understood properly by the member companies. However, this objective can be overcome by introduction of Uniform Costing. For Successful Application Of Uniform Costing System, The Following Conditions Must Be Satisfied: The members of the trade association or Chamber of Commerce should work with a spirit of mutual trust and cooperation. Members should exchange their ideas freely, without fearing the leakage of secrecy. The well-organised and large-scale sector should be prepared to pass on the technological improvements in the process/method of production to the other companies who unable to conduct their own research and development activities. The companies must furnish full and correct information to the Association so the efficiency of the members-companies can be compared. The members should not work with a sense of rivalry and jealousy. The term ‘Uniform Cost Plan covers activities such as cost accounting system, format for reports, analysis of cost data, etc. Some of the activities which may be carried on partially or completely are as follows: Publication of pages, speeches or discussions of important matters pertaining to costs in Trade Journals. Publication of educational literature pertaining to objectives of cost finding. Studies of particular costing problems in the industry to develop sound principles. Activities of counseling nature relaxing to establishment or operatives of cost accounting system. Development of estimating formulae or short-cut methods of establishing basis for pricing. Development and promotion of uniform cost programme. Cost studies in determining average or representative cost of products, functions or activities for general information of members. Regular collections and dissemination of cost data under some kind of reporting plan. Complete analysis of cost data to interpret results to show trends, weakness of operation, etc. Whether cost data are required for one product or al the products produced in a factory. Costing techniques to be used, i.e, historical, standard or marginal. Definitions of various elements of cost such as: v direct material v direct labour v cost of direct services v factory overheads, administrative and selling overheads. Items which are extraneous to costs such as bad debts, donations, etc, and to be excluded from cost. Classification of production and service departments. Method of treatment of spoilage, defectives, etc, in costs. Treatment of research and development in costs and methods of allocation of research and development to each cost centre/cost unit. Treatment of handling and storage cost of raw materials. Method of pricing of materials used such as FIFO, LIFO, simple average, weighted average. Production centres, cost centres, etc, to be used for analysis and comparison of costs. Methods of payment of remuneration. Treatment of items like interest on own capital, rent of premises owned, etc Method of working out depreciation, i.e, whether straight line method or written down value method to be used. Method of apportionment of service departments costs to production departments. System of classification and codification of cost accounts. Method of valuation of work in progress. The method of presentation of data and reporting to management. Treatment of under/over absorbed overhead, eg. Applying supplementary rate or write off to profit and loss account. For successful implementation of uniform costing system, it is the primary duty of a Trade Association of devise a cost manual containing recommended cost accounting plan. All the participant members should be invited for detailed discussion before a cost manual is finalised. The cost manual is of immense help in guiding the participating firms to operate their accounts on uniform basis. If the industry consists of companies of similar size and a common range of products, it is entirely feasible to present the accounting procedure in one manual for use of all members. Where, however, there is a great disparity in size of companies in an industry, it is better to issue a separate manual for large companies and one for the small. The Characteristics Of A Good Uniform Cost Manual Are Summarized Below: v It should present a strong case for the desirability of using uniform cost accounting methods. v It should serve as a comprehensive reference book on cost accounting procedures. v It should be useful to the executives/cost accountants for saving all problems in installation and execution of recommended uniform costing method. Introduction Statement of objectives and purpose of the system. Education the management and people about the uniform costing system Scope of the system. Case for use of the system. Organisation Organisation for developing and operating the system. Stages in which the system is to be introduced. Management of the organisation by trade association or otherwise. Accounting System General principles of accounting to be adopted. Terminology to be followed. Details of coding system. Classification and description of accounts. Reconciliation between financial accounts and cost accounts. Accounting period. Method Of Costing [E.G. Process Costing, Job Costing, Standard Costing.] Unit of production. Costing periods [e.g. monthly, quarterly, half-yearly or annual] Expenses to be considered in costs. Methods to be used for inter-unit transfer pricing. Classification of departments [Production department, service department, etc.] Material cost direct and indirect, treatment of idle time, treatment of fringe benefits, overtime, production bonus. Overhead-classification,collection, apportionment and allocation. Direct and indirect depreciation, method of depreciation to be used, research and development expenditure,methodofallocation/appotionment of service department cost to production department, capacity cost etc. Reporting. Periodically of reports. Levels for whom the repors are to be sent. Cost statements. Ratios -cost as well as financial. Supplementary data. Ø Nature and extent of information to be accumulated Inter-firm comparison requires that all relevant and detailed cost information should be collected regarding business firm. No definite list of information can be suggested for collection. However, the following are the usual information which are applicable to all industries and therefore can be collected for the inter-firm comparison: Information regarding cost and cost structure. Labour efficiency and labour utilisation. Machine efficiency and machine utilisation. Raw materials consumed wastage and stores-keeping. Return on capital employed. Liquidity and liquid resources. Reserve and appropriation of profits. Debtors and creditors. Methods of production and technical aspects. Inventory and inventory systems. Ø Responsibility for collection, coordination and presentation of information In some countries separate organisations have been established for collecting and presenting information. in India inter-firm comparison information is collected by various trade associations, chambers of commerce, the national productivity council, research and statistics division of several commerce and trade journals and periodicals and newspapers. Ø Method of collection and presentation of information Information for the purpose of inter-firm comparison is usually supplied by business enterprises to organisation regularly. Information can be collected by field workers also. After the information is collected, it is properly compiled and arranged and finally a consolidated report is prepared for the benefit of business firms. For the information to be purposeful, it is essential that participating firms should agree about the meaning of various terms used in ratios and accounting information The printing industry in UK has played a leading role in the establishment of uniform costing system this industry was first to introduce the uniform costing system.This was a welcome step for introduction of inter-firm comparison in the printing industry. The industry awas divided into various groups each having its own ratios based on differents characteristic of the firms. The division is based on the following characteristics: Nature of activities carried in the printing industry, eg, genral printers , book printers,. newspapers houses, and Size determined bu number of employees. It is to be pointed out here that actual figure sof profit or other details are not issued to members so that there is no betraying of confidence. Emphasis is always laid on depicting the average results so that a single firm can make a comparison to see whether its own ratios are equal, better or worse than the average for its own particular group. For each ratio the median and upper and lower quartiles are computed. The principal ratios used by the principal industry in u.k are given. The benefits from inter-firm comparson include the advantages of uniform costing system and benefits arising out of the use ratios. The advantages of uniform costing system has been discussed before. The following additional advantages are obtained from inter firm comparison: The extent of weakness of the participating firms is reaveled. Management is, therefore induced to take suitable remedial actions. The participating firms give information voluntarily and willingly in the prescribed questionare. The definations of various terms are clearly explained to the users. Thus the results obtained from the information are accurate and capable of being compared. Inter- firm comparison promotes cost consciousness among the members of the industry. It enables the government to take measures for effecting price regulation. It facilitates government to grant protection to industries, wherever necessary. It introdues a sense of healthy competition among the participating firms. It provides substantial data to the members-firms to present their case to government. It forces ‘self searching exercise among the members-firms. The benefits arising from inter-firm comparison have been outlined above. It is very good practice which promise substantial benefits to the members of the industry. The practical difficulties which are often experienced in the implementation of IFC scheme are summarized below. The member-firms often express resistance to the idea of disclosing data relating to the performance. Satisfaction with the present profits may bring about a sense of complaceny which is disastrous for active participation in the implementation of IFC When the companies do not follow suitable cost acconting system,the inter firm comparison will not be meaningful and effective. Non availability of suitable basis for comparison presents problem to the introduction of IFC. Ø GOOGLE.COM Ø YAHOO.COM Ø COST ACCOUNTING BY JAWAHAR LAL Ø COST ACCOUTING BY SULTAN SONS

Sports History and Sports Halls of Fame :: Sports

Sports History and Sports Halls of Fame Below are websites dealing with sports history, particularly those halls of fame which exist. In the dead of winter, many people's interest turn to sports, and the nominees and inductees are announced for many halls, including professional baseball and professional football. Professional Baseball Hall of Fame http://www.baseballhalloffame.org/ This website discusses the National Baseball Hall of Fame in Cooperstown, New York. The site combines baseball history and the Hall of Fame itself. The rotating exhibits at the museum are prominently featured, along with the members of the Hall. The site also discusses the rules for induction. Among the items available for the Hall of Fame members are their lifetime statistics, their biographies, pictures of their plaques, and desktop wallpaper. For those interested in analyzing the history of baseball elections, the results of the past votes are available. An online catalog of the museum's holdings is accessible here. The baseball history here is good, if sometimes not overly evaluative. The exhibits at the museum are also portrayed, and among the current exhibits are one on Ichiro Suzuki and another on Sports Illustrated. Information about visits is here as well. Basketball Hall of Fame http://www.hoophall.com/ This hall of fame (located in Springfield, Massachusetts), unlike baseball and football's hall of fames, represents all of basketball in one hall. (The other halls have separate halls for college and professional). Among the items on the site are information about the Hall of Famers, running from James Naismith, who invented basketball, to Medowlark Lemon, to Phog Allen, to Lynette Woodward. Five whole teams are also honored as members, including the Harlem Globetrotters, the New York Rens and the Buffalo Germans. Three people, Lenny Wilkens, Bill Sharman and John Wooden, are honored both as players and as coaches. The history here, outside of the hall, is generally good if not extensive and includes interesting sections on the original rules of basketball and the story of how the Hall of Fame was founded. Pro Football Hall of Fame http://www.profootballhof.com/ This hall of fame, located in Canton, Ohio, honors the game of pro football. The site includes information about visiting the hall, the history of the hall, and the hall of famers. Like most other halls, it lists the inductees, provides short biographies of them, and details the induction process. Information about this year's class is featured prominently, as the finalists were just announced. History of the NFL is provided, although it is not featured prominently.

Muzak :: Personal Narrative Papers

Muzak Ã…  .a true storyÃ…  So there I was last year, walking through the supermarket on an afternoon like any other, trying to get everything I needed: Ã…  picking over the vegetables, as out of a murky fog, I realized that my foot was tapping out a sonorous beat, apparently out of my concentration. What's more amazing, I now see, is that the lazy rhythm from my foot matches a melody which has been ringing behind my thoughts as I decided what kind of onions to buy&emdash;also without me being fully aware of it. All of a sudden, a minor physical revulsion causes me to set down my basket on the produce, my body trying to exorcise this foreign invasion. What is this thing? And that tune! It sounds like a watered-down version of Eric Clapton's acoustic "Layla", terribly deflated and played by a bunch of sixty-year-old orchestra players&emdash;I am still not too sure. But it will not seem to go awayÃ…  .the soothing sounds turn malicious as they bounce off the walls of the nutrition center, the meat department, housewares. Everyone I see is milling around like before, are they hearing what fills my ears? Is that same insidious song playi ng with their minds? Now that I focus on the music rambling from the loudspeaker in the ceiling, it appears as if they are all part of a silent movie&emdash;acting against a separate, unrelated soundtrack. When I first started exploring background music, I came to realize that the issue involves much more than those whiny songs wafting from crappy mono speakers in department stores. It stretches far beyond these simple associations, significantly affecting the changing workplace and worker control, as well as the site of consumption and consumer control. Muzak is now a tool widely used around the world&emdash;liked by most people, revered by some, and detested by others. That's Muzak, not 'muzak' It is important to understand here that Muzak is not just another term for background (or, annoying) music; it should not be confused with the numerous impostors which play in elevators and the like. It is the name of an American corporation and its sophisticated business programming . As one of its brochures explains succinctly, "The raw material of Muzak is music." And why is music unable to achieve the same results as their product? Because music is art, but Muzak it science. And when you employ the science of Muzak: in an office, workers tend to get more done, more efficiently, and felt happier.

Lalala

Summary of the story Weekend is a short feminists story depicting traditional middle-class family, consisting of the mother- Martha and the father of three- Martin, going for the weekend to their cottage near Stonehenge, where they will meet their friends. On Friday, Martha is preparing some things, food and complaining Nearly) about her life. Martin wants her to be perfect, as she says â€Å"he Likes women with small hips and big bosoms, that's Incredible. † She has a suspicion that her husband has an affair with his secretary, who looks exactly that way.Martin has a small sport car, but they take Marsh's car for the trip, since it is bigger, although it is the older one. Martha can ‘t drive, because her driving license was taken away for drunken driving. The whole Journey, Martin Is Joking about the car, but Martha takes It personally, whilst she has got the feeling, he Is ambiguously talking about her. Late at night, their friends- Colic and his girlfriend Katie, arri ve to visit them in their cottage. His previous wife, Janet with whom he has two children, was a nice woman and Martha liked her, however she was not so stunning like the new one.Martha prepares mushroom omelets In her night, sets the table, cleans everything after the late supper and goes to bed at 2 a. M. Katie sits and has a good time, without any intention to help her. The other day Martha sleeps longer than usually and has the consumptions, because everything in the kitchen stays exactly in the same place, where the consumers had left It. She should ‘t sleep so long. Glamorous Katie did not help with anything. Again. The rest of their friends, Harry and Beryl, come for the lunch. They bring fresh artichokes. Ill Martha Is preparing the artichoke soup, the top of the blender flies away and the kitchen is full of artichoke puree. Awkward Martha. Jenny starts her first period and Martha is impressed and cries. She is not her little child anymore, but a little woman. To sum u p the story, a woman must be always perfect. Great wife, mother, babysitter, awesome cook, successful careerist, best friend, psychologist, teacher, doctor, dishwasher, cleaner with bottomless sexual appetite. While exhaustion, influenza, migraine or other illnesses are mission impossible.And naturally, you would do it all in high heels, scented, with exquisite hair, flawless make- up and smile on your face. 2) Characteristics of the mall characters wants to be a perfect woman and tries to manage everything, what in her eyes woman should manage; however, her husband does not see that. She feels undervalued by him as long as he is criticizing her and looks back to the other women, young, childless, with big bosoms and little hips. She is also helping pretty much with house expenses, the thing, she's not very satisfied with, because a good husband of his good wife should manage that.Martin- husband of Martha; iconic example of a man who comes home, extremely exhausted after all day in work and awaiting the house to be clean, children calm and that his wife will be neat, scented, smiling and ready to make him a supper according to his wishes. He is not satisfied with his wife. She should be slimmer, nicer, make healthier meals, and use plenty of perfumes he keeps buying her. Jenny, Jasper, Colony- children of Martha and Martin. We don ‘t know much about them. Jenny dries off her hair with Katie ‘s Yves Saint Laurent towel and gets the erred for the first time at the end of the story. Jasper has hay fever.Katie- a glamorous, childless, scented chick in her middle thirties; kind of a â€Å"modern wife†, who came to the relationship with one bag of clothes, intelligence and free mind. Colic- boyfriend of Katie, he loves her very much and wants to marry her. He has two children from the previous marriage. Katie does not like his ex-wife Janet and their children; he can meet them Just once per month. He is a successful businessman. Harry and Beryl- friends of Martin and Martha; Beryl is a secretary and Harry is an artist. She falls asleep during the visit and Harry gets drunk and is going to drive. He has scar on his temple from the car accident.Mrs†¦ Hooded- came in twice a week to clean and Martha paid her from her wages 3) The story is described from Martha ‘s perspective. Would it be the same, if the narration would be done by Martin? No, definitely. It would not be the same. As far as l' m concerned, Martin perceives the whole situation completely differently than Mart does. He is looking onto problems and situations with a â€Å"man's eye†. He does not feel that Martha does too much around the house, children etc. He feels that she should cook better, have smaller hips and try to be fresher. 4) What are Martha ‘s main worries? Why does she obey Martin in everything?Why does she never object? She wants to be an amazing wife of her great husband that's why she obeys him. She feels that it is her dut y in the role of a woman, mother and wife to behave that way. She is afraid of losing of Martin and fail in all her roles. Martha cannot imagine her life without a husband – she does not realize she could live a different life, because this is what she knows. That is why she is trying to keep Martin at all costs although she is not happy with him. Martha is a prototype of housewife and Katie is her opposite. Martha has a husband, three children and her family is something sacred for her.But she works and keeps her own money that means, she can get by from her wages. Katie has different attitude to these things. She hates to be in the traditional position of a woman, like Martha is. Katie is divorced twice and doses t have children. From my point of view, she is that kind of woman, who needs husband to take care of her in general, mostly from the viewpoint of expenses. Although Katie appears as a confident woman, we also witness her insecurities – she realizes that Coli c is tied to Janet because they have children together and that her position might not be that stable. ) How is the story narrated? Are there long descriptions or dialogues? Why not? The story is narrated as Mart ‘s train of thought. Her mind is important. She is describing the situations from subjective point of view, not like the omniscient narrator. There are no long descriptions, nor dialogues, because they are not necessary (and Martha does not have time for them since she rushes from one task o another – so the narration reflects her state of mind); the reader understands from the situations the whole context. Anyway the direct speech is used for being more authentic.Her descriptions make the story more personal than the universal third person narrator or â€Å"the eye of the camera†. If any woman reads it, she finds herself in many similar situations and that is the aim, to personalize the story and give the percipient the space to make his point of view a bout the piece and given problem. 7) Look at Martin ‘s comments which are inserted in the brackets. What do they suggest? They suggest Martin's dissatisfaction or ironical view on Martha and her acts. They are not formulated as direct criticism, but are rather indirect.Though he might appear as a kind husband, Martha takes his remarks personally as a form of criticism and thus puts even more pressure on herself. 8) What is author's opinion on women like Martha? Who is responsible for their unhappiness- is it men or the women themselves? A woman should love her family and her husband, but should not obey him in the way like Martha did. She gave her win â€Å"Self† and life to her family, but doses ‘t get it back from them. She doses t feel intrinsic fulfillment, which she should feel, living this pattern of life.They are both responsible for their unhappiness – males and females. Because if Martha doses ‘t want to, she din ‘t have to behave this way. As long as, we are concerning on feminist fiction, then men are responsible for the woman's unhappiness 0. Weldon is critical not only to men, but to women as well. She points to the fact that they have power in their hands and they should be active in pursuing happiness. Martha, forever, only relies on her husband, not on herself so it is her own fault that she leads an unhappy life. ) Why does Martha cry at the end of the story? Because her only daughter is becoming a woman. From this important hoar stone in her and they will cause troubles to her woman being and gain control over her whole life, like Martin does to Martha. Martha realizes that her own daughter is now entering the period of womanhood with all its responsibilities. The ending also shows that Martha feels powerless and does not realize that her own daughter does not have to have the same life as she does.