Self Reflection Analysis In The Social Work Sector Social Work Essay

Self Reflection Analysis In The Social Work Sector Social Work Essay Social work practice can be seen as a very complex process as it seeks to promote social change, social justice, equality, anti-discriminatory and anti-oppressive practices and also social inclusion. It is therefore significant that as social workers, we reflect and evaluate our practice in order that the values we stand for are promoted and adhered to. Reflective practice is therefore a way of making social work professionals more accountable through an ongoing scrutiny of the principles upon which the profession is based (Fook, 2002). However, Ixer (1999) criticizes that reflective practice has simply become uncritical and orthodox mainly because it can be applied in many ways and across many professions. None the less, Donald Schà ¶n (1983) a key theorist of reflective practice, saw reflective practice as a way forward for professionals to bridge the gap between the theoretical and practical aspect of their work by unearthing the actual theory which is embedded in what they do, r ather than what they say they do. He made it clear that by being reflect practitioner, one is aware of the theories or assumptions underlining your practice and what actions to take in improving your practice or providing better services for the service user. To me reflective practice is therefore like a looking glass or mirror where you as a practitioner have the opportunity to correct or redirect your course of action. For the purpose of this assignment, I am going to use a case study from my previous practice placement to illustrate my reflection and evaluation of my own practice, how the use of self, my beliefs and values might have influenced my actions, how I have developed new meaning and understanding through peer supervision/feedback and the unit lectures and how theories underpinning reflective practice may help in improving my practice as a social worker. Case study I e-mailed the learning mentor at N. Middle School concerning a boy named J (for confidentiality purposes). A 12-year old, of White- British background, who was referred to my previous placement agency for having behavioural problems (such as fighting with his peers, being disruptive during lessons, disrespecting his teacher and general misconduct) at school. J from an early age of about 6 had witnessed Domestic Violence in his family. My concern was that J had revealed very confidential information to me regarding his mum and her ex-boyfriend (his mums ex-boyfriend was violent toward his mum and he witness it as well). J was worried that this might happen again since his mums ex-boyfriend was back into his mums life and sleeps over sometimes at the family home. I informed the school about this revelation since it was a school referral and also because J had mentioned that any time his mums ex sleeps over it affects him and his behaviour at school becomes disruptive due to the worrie s he has. When I passed this information to the school authorities, the school also informed Js mum about it which I felt was not appropriate due to the fact that Js mum had been very wary as to what information or issues J would reveal to professionals. In my email I also pointed out the fact that the trust and confidence J had towards me could be undermined since his mum got informed about this although it was suppose to be confidential among professionals. Reflection and Evaluation of my practice In this case study, I felt that the school authorities should have acted more professionally. They should have contacted me first before informing Js mum but this was not the case. I only got to know that they had informed Js mum when she asked me questions or tried to clarify the issues that J had revealed to me. Although, this situation didnt mar my professional relationship with the school authorities at the time, it has made me wary of how much information I can share with other professionals and how that particular information should be treated (if very confidential). I felt that I had eroded the trust and confidence between J and I because his mum got to know about what J had revealed to me although he did not want her knowing. Order to maintain the trust and confidence we had, I should have sought Js consent first. Also the school should have contacted me first before informing Js mum so that my trust and confidence in the school could be maintained as well. I also felt that this broken trust and confidence might extend to other professions who might be working with J in future. This experience could therefore distance J from other professionals (including myself). He might view all professionals as untrustworthy and as enemies rather helpers. This therefore meant that I did uphold public trust and confidence in social care services as enshrined in the code of practice for social workers (TOPPS, 2004) I felt that J was very opened and honest to me. He had trust and confidence in me as well. I listened to him as a friend in a professional capacity which I feel he needed. However, I felt I let him down in this situation because he was not made aware that his mum would be informed (issue of consent). This issue of confidentiality posed as a big ethical dilemma for me, in that I questioned myself whether it was right for the school to have informed Js mum about his revelation? Have I broken Js trust and confidence by informing the school about this? And am I right to question the school authorities why they shared the information with Js mum even though the referral was made by the school. These were ethical dilemmas I was faced with before emailing the Learning mentor. I was therefore aware of these ethical dilemmas and conflict of interest and the implication to my practice (social work value A). However, not sharing the information could also mean that I would be held responsible for my actions if something went wrong. Furthermore, I felt this could have been an issue of potential discrimination, in that the school had overlooked the effect on J, and also the relationship between mother and son, this could have potentially estranged Js relationship with his mum, the school and even me. If this happened, he would be reluctant in dealing with professionals and this may pose as a barrier to him accessing the needed support he may require. Theories used in case study In this case study, the gathering and use of information was the main focus. Establishing service user confidentiality is as important as providing the need/service for him/her. However, though the issue of confidentiality is usually negotiated and established during the agreement meeting with the service user, there are lots of ethical dilemmas surrounding this (as to whom you can share the information with and how much of that information can be shared. Seden (2005) mentioned clearly that in working with Children services it is particularly difficult to have total confidentiality because a child may reveal something or an issue in confidence which may be a child protection issue. And as a professional you would have to share this information with others so that prompt action can be taken. It highlights the fact that in child protection issues, safeguarding and promoting the childs welfare is paramount (Children Act 1989) rather than confidentiality. Yet the Data protection Act 1998 and my previous placement agencys policy on confidentiality also informed me of my practice. In accordance with the Data Protection Act 1998, it entreats all agencies that have access to peoples personal information to keep it safe and must only use the information solely for the purpose for which the information was sought. It also means that if personal information about people fall into the wrong hands it can be used maliciously and our right to private and family life (Human Rights Act 1998) could be contravened. Personal data can further be use to enforce discriminatory and oppressive practice by using it to categorise people in terms of service delivery. Another important theory in this case study was multi-disciplinary and multi-agency working. The Working together document (DOH, 2006) highlights the importance of multidisciplinary and inter agency working in children work force. This document was put together by Department Of Health, Department for Education and Employment and the Home Office. It serves as a guide to inter-agency working to safeguard and promote the welfare of children as well. In my first placement setting, it was good practice to liaise with the lead professional/organisation that carried out the assessment and referred the case to my agency. All relevant information and process of the intervention were shared with the other agencies involved. In this way I was working according to my agency policy of liaising with other agencies, following the legal requirement of the working together document and meeting unit 17 of the National Occupational Standards (TOPPS 2004). In doing so I was able to communicate effective ly with other professionals and this also facilitated information sharing between professionals. Theories of Reflection Using the case study as a reference point, I realised that most of the reflection I did took place after the event. This is what Schà ¶n (1998) referred to as reflection-on-action. According to Schà ¶n (1998), reflection-on-action therefore means that as a professional, I only sit back after I have undertaken the intervention to think about what I did, how I did and whether there were any ethical considerations I took for granted. In doing so I am able to analyse and critical evaluate my actions and practice and improve on my shortcoming. For example, in the case study scenario, I realised that the trust and confidence J had in me was eroded once his mum was informed about his revelation to me. Had I reflected before the event or during my meeting with J (reflection-in-action), I would have made him aware that his mum would hear about it and hence J and I could have come to an amicable agreement as to how to inform his mum. This might have provided a more positive outcome rather th an the presented outcome in the case study. This same model of reflection-on-action can be related to Gibbs model of reflection. In Gibbs (1988) model, he identified six key stages of reflection; Stage 1: Description of the event A detailed description of the event you are reflecting on. Stage 2: Feelings and Thoughts (Self awareness) Recalling and exploring those things that were going on inside your head. Stage 3: Evaluation- making a judgment about what has happened. Consider what was good about the experience and what was bad about the experience or what did or didnt go so well Stage 4: Analysis- Breaking the event down into its component parts so they can be explored separately. Stage 5: Conclusion (Synthesis) -Here you have explored the issue from different angles and have a lot of information to base your judgement. It is here that you are likely to develop insight into you own and other peoples behaviour in terms of how they contributed to the outcome of the event. The purpose of reflection at this stage is to learn from the experience. Stage 6: Action Plan-During this stage you should think forward into encountering the event again and to plan what you would do would you act differently or would you likely to do the same? These six stages of Gibbs model serve as aiding tools to help professionals critically reflect on their experiences. For instance, through detail description in my case study I am able reflect on my feelings and thoughts towards the school authorities and how my actions may have affected the welfare of J. I have also been able to identify that I did not promote the social work code of practice (upholding public trust and confidence in social services). When faced with a similar situation like this in future or in practice, I believe I would think critically and reflect critically before passing information to other professionals with the view that the information will be used solely for the intended purpose. However, another reflective model is that developed by David Kolb (1984) on experiential learning. Kolb (1984) created his famous model out of four elements: concrete experience, observation and reflection, the formation of abstract concepts and testing in new situations. These entire four elements are connected in a circular way. Kolb (1984) argued that the experiential learning cycle can begin at any one of the four points and that it should really be consider as a continuous and unending process. Meaning, the learning process often begins with a person carrying out a particular action and then seeing the effect of the action in the given event or intervention. Following this, the second stage is reached in which the professional/learner understands these effects in the event or intervention so that if the same action was taken in the same circumstances it would be possible to anticipate what would follow from the action. With this understanding, the third stage is to understand th e general principle under which the particular instance happens. Generalising may involve actions over a range of situations/events for the professional or learner to gain experience beyond the particular instance and suggest the general principle. Understanding the general principle does not imply, in this sequence, an ability to express the principle in a symbolic medium but rather implies only the ability to see a connection between the actions and effects over a range of circumstances. When the general principle is understood, the last stage is the application through action in a new circumstance within the range of generalisations. Thus the action is taking place in a different set of circumstances and the learner is now able to anticipate the possible effects of the action. Two aspects can be seen as especially noteworthy: the use of concrete, here-and-now experience to test ideas; and use of feedback to change practices and theories (Kolb 1984: 21-22). Relating Kolb model to my case study, I felt that by emailing my concerns to the school mentor about how the information was treated seemed a more professional way of dealing with the issue. As the school authorities later apologised to me about their actions. I do believe that if I am faced with a similar situation with other professionals I would elegantly challenge their actions in a similar manner as I have done before and if it works I might generalise that this approach works well. This would therefore give me new meaning and a new perspective as to how to work with other professional collaborative in achieving the desired outcomes for service users. Feedback from my peers. During the learning sets meetings, I presented his case study to my peers and one the learning points from them was that I had assumed that the school authorities would not inform Js mum about the revelation and because of that I hadnt insisted on them keeping the information as confidential as possible until such a time when consent had been sought from J. I in my view this is what Brookfield (1988) called assumption analysis in critical reflection. To him, Assumption analysis describes the activity adults engage in to bring to awareness beliefs, values, cultural practices, and social structures regulating behaviour and to assess their impact on our dad to day activities. Assumptions may therefore be paradigmatic, prescriptive, or causal (Brookfield 1995). He stresses that assumptions structure our way of seeing reality, govern our behavior, and describe how relationships should be ordered. Assumption analysis as a first step in the critical reflection process makes explicit our tak enà ¢Ã¢â€š ¬Ã¢â‚¬Ëœforà ¢Ã¢â€š ¬Ã¢â‚¬Ëœgranted notions of reality. Members of the learning set also raised my awareness to the fact that the underlying assumption I had about the case could possibly being derived from my own beliefs, value base, cultural and social background, agency policies, my gender and race. Brookfield (1995) highlighted this by noting that a contextual awareness is achieved when adult learners come to realise that their assumptions are socially and personally created in a specific historical and cultural context. I should therefore have been self aware of the influences my personal, cultural and social (Thompson, 2006) may have had in the given case study. Also, the learning sets helped me to unearthing or understand more about the power imbalances that exist between service users and professionals. One of my group members made it clear that possibly the school authorities acted the way they did because they had the power to do so and as a way of proving to his mum that the boys problem was generated from home rather at school because the mum blames the school authorities constantly for her sons behaviour. According to Mandell (2008), power affects the experience and behaviour of both the practitioner and service user and so the practitioner needs to ask, or be asked, where does power lie in his/her relationship, how does it operate and who is defining the character and direction of whats taking place. Therefore, to be a critical reflective practitioner I need to acknowledge the power imbalances in my practice before making decisions or embarking on a course of action. Its also important for me to consider all the angles and checks out all the details before taking the plunge (Payne, 2002, p124) so that a more opened, honest, fair, just, anti-discriminatory and anti-oppressive practice can be achieved in my service delivery. The case study analysis with my peers provided me yet with another very important learning point. Thus, in sharing the information with the school authorities, I was focusing more on the theory (the Every Child Matters and working together agenda) for off the peg solution (Thompson, 2005, p146) or what Schà ¶n (1998) calls technical rationality, the belief that well developed theory can provide solutions for professionals. Rather, I should have used both my theoretical background and past experiences to help inform me of my practice. This would have had a more balancing effect or less impact on J. With this now, I am confident that my decisions and actions in future placements would be drawn from my theoretical or formal knowledge and that of my past experiences or informal knowledge. Conclusion Summing up, I feel that this unit has provided me with greater insight about how my actions or decisions are influenced by my belief system, culture, values, gender, religion, assumptions, political and social orientation. It have also learnt that drawing from the views of others, I would be able to see the issue or problem from a different perspective and this might help me develop a new meaning of the event. Mezirow (2000) called the process of developing this new meaning of the event as perspective transformation. I now also understand that as a social worker, t would have draw on knowledge from all sources (theoretical and non-theoretical) in order to address the messy complexities of real-life situations and to consider each individual situation or event unique (Yelloly Henkel, 1995). Therefore, the way forward for me as a social worker is to critical reflect on the use of self, the awareness of power imbalances (deconstruction) and the development of new meaning/ perspective( re-construction) illustrated by Howe (2008).

Water Imagery in the Works of Eudora Welty, Teresa de la Parra, Kate Ch

Water Imagery in the Works of Eudora Welty, Teresa de la Parra, Kate Chopin, and Marà ­a Luisa Bombal â€Å"’The pouring-down rain, the pouring down rain’ –was that what she was saying over and over, like a song?†. Eudora Welty, â€Å"A Piece of News† â€Å" Usually I prefer to stay at the pool because there the river holds a serene and mysterious charm for me†. (Por regla general yo prefiero quedarme en la toma, porque es alla en donde el rio tiene para mi aquel encanto sereno y misterioso). Teresa de la Parra, Iphigenia (The Diary of a Young Lady Who Wrote Because She Was Bored) (Ifigenia (Diario de una seà ±orita que se escribà ³ porque se fastidiaba)) â€Å" The voice of the sea speaks to the soul†. Kate Chopin, The Awakening â€Å" And like this, naked and golden, I dive into the water† (Y asi, desnuda y dorada, me sumerjo en el estanque). Marà ­a Luisa Bombal, The Final Mist (La à ºltima niebla) Water imagery occurs repeatedly in the works of Eudora Welty, Teresa de la Parra, Kate Chopin, and Marà ­a Luisa Bombal suggesting that it is intimately connected with the inner worlds of the female protagonists in these stories. The storm dramatizes Ruby’s death fantasy in â€Å"A Piece of News† by Eudora Welty. The river provides a place for Marà ­a Eugenia to express herself in Iphigenia (The Diary of a Young Lady Who Wrote Because She Was Bored) (Ifigenia (Diario de una senorita que se escribo porque se fastidiaba)) by Teresa de la Parra. The sea elicits Edna’s deepest desires in The Awakening by Kate Chopin, and the mist triumphs over the nameless narrator’s attempt to escape death in The Final Mist (La à ºltima niebla) by Marà ­a Luisa Bombal. According to Carl Gustav Jung, water is the commonest symbol for the unco... ...h. Furthermore, Jung’s explanation of water as â€Å"carnality heavy with passion† is linked with life, or the conception of children. However passion is also linked with death, because extreme passion is traditionally linked with sinfulness, which leads us to death rather than to eternal life in the Christian tradition (Archetypes 19). Jung also writes of â€Å"the longing to attain rebirth through the return to the mother’s womb† and the idea that the mother’s womb is described using water imagery (207). Water thus links death, passion, birth, and life. But for the protagonists in these stories, these forces are somewhat out of sync. Failures of individuation, and the completion of transformational journeys which lead to madness, resignation, and death point to an inability of the characters to reconcile their wants and needs with their actual lives.

AT&T Case Study Essay

1. Introduction In this report we will identify business risk that AT&T experienced due to their divestiture in 1982. We will conduct our analysis based on financial concepts, and finally recommend necessary actions that should have been conducted when the company formulated its financial policy in 1983. 2. AT&T Background AT&T was founded in 1876 by Alexander Graham Bell. Prior to the divestiture AT&T had been a force to be reckoned with for over a century within the telephone service industry. Before the divestiture the company served over 80% of the US telecommunications users. The sale of these services took place at their 22 local subsidiaries. AT&T was the largest enterprise in the world with total assets of $137.8 billion and revenue of $58.1 billion. Given the size of the company they had hired a total of 1,060,378 workers. With a total number of 3,055,495 shareholders, where 95.3% held less than 600 shares each. Ever since 1885 AT&T had continued to pay its dividend to the shareholders, they never lowered the payment. The divestiture that AT&T experienced was a result of an agreement of the Justice Department’s antitrust suit against the company in 1982, which required a major rearrangement of AT&T’s capital structure. The agreement lead to several changes in the structure of the company, and one major change that had a significant impact on the company was how they managed their distribution channels. Prior to the divestiture they sold their services through their 22 local telephone subsidiaries, the company would now be spun off into seven independent regional corporations; NYNEX, (N.Y. Telephone and New England Telephone), Bell Atlantic (N.J. Bell, Bell of Pennsylvania, Diamond State Telephone and four Chesapeake and Potomac Telephone Companies), Bell South (South Central Bell and Southern Bell), Ameritech (Indiana Bell, Michigan Bell, Illinois Bell, Wisconsin Bell and Ohio Bell), U.S. West (Mountain Bell, Pacific Northwest Bell and Northwestern Bell), Southwestern Bell (Southwestern Bell) and Pacific Telesis (Pacific Telephone, Nevada Bell). 3. Historical Financial Policy AT&T’s overall financial policy, including target debt ratio and interest coverage, was designed to maintain an AAA bond rating, which allowed them to reduce borrowing cost and in addition make sure that funds were available in periods of severe financial dislocation. The dividend policy was relatively conservative for a utility with a target payout ratio of 60% and an actual payout of 58-67%. Their low payout ratio was determined by AT&T’s large capital requirements and the desire to provide some protection for maintaining the stability of dividends. Stockholders reinvested approximately one third of the dividends. Due to the increased competition and the volatile regulatory climate, AT&T returned to a more conservative financial policy. Between late 1970 and 1980 the managers were reluctant to issue more equity through sales of stocks because the company’s market value was below its book value per share. However, the financial history shows that AT&T allowed in vestors to purchase new stocks using their current dividends at 95% of current market price. 4. Principal Problem AT&T’s principal problem was not the need to raise funds to finance investments, but whether the debt and equity ratios were appropriate for the â€Å"new† AT&T. This needs to correspond with the company’s financial and strategic goals, and be adapted to the market and uncertainties that the company is facing. AT&T’s strategic goal has been to please the potential stockholders categorized as widows and orphans. Widows and orphans are used to describe stocks with a relatively high degree of safety and a stable dividend income. Due to changes in the market and uncertainties that the company was facing, their strategic goals needed to be changed. The change  was however not reflected in their balance sheet. We will further discuss what led to this situation, and give a recommendation on the changes that should have been made prior to the divestiture in 1984. 5. Pre Divestiture Business Risk As a consequence of the governments intervention, the AT&T lawsuit settlement, as well as the shift in the telecommunication industry, it was clear that AT&Ts local telecommunication business was slowly moving away from a monopoly franchise environment. It was moving towards a more competitive environment characterized with more consumer choice and greater competition. Companies such as IBM saw the divestiture of AT&T as an opportunity to provide new telecommunication equipment and services, which would allow them to gain a higher market share. AT&T’s stock had up till then been regarded as a stable utility-type stock because of its steady growth and consistent dividend yield. However, AT&T should have kept in mind that they would not have as much market control in the future as they did prior the divestiture, much due to the intensifying competition and regulatory environment changes. Firstly, the antitrust lawsuit followed by a sudden divestiture could cause uncertainties to wards the company’s future and might change the shareholders perception of AT&T in an unfortunate way. Second, the seven new corporations would be highly independent, and therefore a major rearrangement of the capital structure would be vital. It is likely that every corporation would differ in terms of e.g. management style and financial performance. These changes could mean that AT&Ts reputation of being a safe and profitable investment could shift to become more volatile and riskier for its shareholders. Finally, AT&T had relied for a long time on their old and out-dated patents, which included old machinery, equipment and plants in order to create profit. As more and more competitors emerged with new technologies and services, AT&T needed to keep up with all changes in the market. As a result of the divestiture the R&D was reduced at Bell Laboratories and the development-part was eventually intergraded into the Western Electric division. After these changes many concerns arose relating to the future profitability of Western Electric (WE). Firstly, they were concerned that WE might not be able to attain marketing and product development skills that were vital in operating in the  newly competitive markets. The main reason for this is that the workforce was used to working in a captive market, where competitors were almost non-existent. Secondly, WE’s manufacturing labor force had become unionized at the same time, as their plants were old. This meant that WE would have to invest in R&D to make sure that their competitors did not exceed them. Their unionized workforce would lead to a considerable increase in salary and WE would have to follow the regulations that were set by the labor union. As a consequence these factors would most likely affect both the firm’s market share and eventually the stock price in a negative way. 6. Analysis and Recommendation 6.1 The New Capital Structure Spin-offs often provide a unique setting to assess various capital structures, because one observes the initial capital structure of a mature firm. In a spin-off, a subsidiary is fully divested from a parent and becomes a stand-alone entity. Before this happens, the subsidiary is not able to issue new equity, and is dependent on the parent to finance its capital investments. When the divestiture has occurred, the firm’s assets are divided between the subsidiaries followed by a new capital structure of the independent firms. The total outstanding debt would be assumed divided between the seven regional operating companies, hence the sharply reduced total debt that is projected in the 1984 balance sheet. There is also reason to believe that AT&T chose to reduce $725 million of their total outstanding debt in 1982, which lead to the reduction in the debt ratio the same year. When looking at the projected balance sheet one can see that the total debt would be stable at the sum of $9.3 billion from 1983 to 1988, which equals a decrease of $37.8 billon from 1982. However, due to tax deduction the cost of issuing new debt is lower than using equity. This would mean that AT&T should issue new debt in order to create a balance when financing the investment in R&D, and rather use more of the company’s equity to set up an account with emergency funds that will function as a safety net given the unpredictable times ahead. 6.2 The New Distribution Policy When establishing a distribution policy, one size does not fit all. Some  firms produce a lot of cash but have limited investment opportunities. This applies for firms in profitable and mature industries where few opportunities for growth exist. Such firms typically distribute a large percentage of their cash to shareholders, thereby attracting investment clienteles that prefer high dividends. AT&T was in such an industry, but after the removal of the monopoly, the market became more volatile. During periods of market volatility, there are investment opportunities if you know where to look. In such markets the firms generally distribute little or no cash but enjoy rising earnings and stock prices, and thereby attracting investors who prefer capital gains. AT&T should have adapted to the changes in the market, which required more financial flexibility and a stronger balance sheet. A ‘strong’ balance sheet should consist of liabilities that are considerably outweighed by assets. If a company is having problems, the balance sheet (together with the cash flow statement) will tell you whether it can stand the strain. 6.2.1 Dividend Pay-out As mentioned above, AT&T has had a steady increase in dividends payout until the announcement of the divestiture in 1982. The company decided to reevaluate the amount of dividends and keep it steady at $5.40 per share. AT&T had been a market leader in this industry for a long time, yet their equipment and patents were old, as they had not invested in R&D development. In order for AT&T to have a stronger balance sheet and become more financial flexible in the face of the divestiture, AT&T should have cut their dividend payout much earlier. The company might have been afraid to cut the dividend since this often gives a signaling effect that the firm does not expect high earnings in the future. However, given that AT&T was forced into this divestiture, changes had to be made. An alternative measure could therefore have been to make a change in the dividend policy. This could be seen as a risky move, yet if communicated in an appropriate and thoughtful way the shareholders might understa nd that this was necessary for the company’s future growth. Another supporting factor is that approximately one third of the dividends payout were reinvested by AT&Ts stockholders, which shows that the current dividend payout was not very essential to some of the shareholders. 6.2.2 Repurchase of Stock The firm should also have repurchased stock some years after the dividend cut, to bolster the share price. Repurchase have a tax advantage over dividends as a way to distribute income to stockholders. Repurchase provides cash to stockholders who want cash while allowing those who do not need current cash. Moreover, repurchase announcements are viewed as positive signals by investors because the repurchase is often motivated by management’s belief that the firms shares are undervalued. Finally, repurchases is a effective way to produce large-scale changes in capital structures. 6.3 New Investment Plan The company should at the same time start looking for new possibilities and investments in order to overcome these volatile times. An alternative could have been to invest in R&D e.g. by acquiring a small company with the knowledge and expertise that were required in order to compete and be sustainable in the industry. By doing so they would expand their workforce with people who had more knowledge about the newer technology and therefore been better equipped when facing the challenges ahead. Not only would this allow AT&T to gain more human capital, but they would also gain newer equipment. It is also said that more good investments will most likely lead to a lower dividend payout, which supports our recommendation of changing the dividend policy. 6.4 Maintaining a Top-Level Credit Rating AT&T’s overall financial policy, including target debt ratio and interest coverage, was designed to maintain an AAA bond rating, which allowed them to reduce borrowing cost and in addition make sure that funds were available in periods of severe financial dislocation. As mentioned earlier AT&T worked hard to maintain the AAA rating, both through debt ratio and interest coverage. Although it should be noted that AT&T’s debt ratio of 43% was close to fall under the AA ratings. This would have resulted in an increase in average interest cost of 0.7% equal an expenditure of $335.3 million in borrowing cost. Based on this one can conclude that this was a wise decision given the circumstances, and the company should therefore keep their focus on this in the future. A top-level credit ranking will not only give AT&T better conditions when issuing new debt, but also allow them to emerge as a more attractive investment to current and potential new shareholders. Conclusion Due to the antitrust lawsuit and the shift in the telecommunication industry, AT&T needed to adjust their financial and organizational strategy in order to adapt to the changing environment. The main purpose of this report has been to identify the risk involved with the divestiture, and find ways to face the challenges ahead. The report recommends a new capital structure policy, where AT&T should issue new debt for further investments rather than using equity. For the distribution policy, dividends should be cut and thereafter consider repurchasing stocks. Furthermore, the company should invest in a R&D through an acquisition of a small high-technology firm that will enable them to gain knowledge and be more innovative. Finally, AT&T should seek to maintain a top-level credit rating to reduce borrowing costs, to assure better conditions when issuing debt and last but not least to be a preferred firm for investors.

The Most Effective Resistance Against Nazis And The...

Antavius Smith Mrs. Rawson AP English Composition 23 April 2016 Which Countries or Groups Showed the Most Effective Resistance Against Nazis and the Holocaust? Many events in the world have been documented in our history books, but sometimes forgotten. However, the reminisce of events that took place during the Holocaust are the ones that are never forgotten. Neither should the groups and countries that showed resistance towards Hitler. Because of the antipathy towards Hitler s regime, resistance towards Nazi’s and the Holocaust was a combined effort from many different groups and countries, through many different means. Some resistances showed more effective and immediate results through direct revolt towards the Holocaust: Warsaw†¦show more content†¦Because of religious belief, people took to direct action. Although some argue that a resistance that wasn t physical wouldnt be effective, if von Moltke message diffused, and if Hitler s Germany were to see how immoral and inhumane they were becoming, Holocaust s would never survive. â€Å"Von Moltke, by contrast, knew that the greatest threat to Hitler s regime was not nece ssarily violence or deception, but a revolt of the conscience, a personal rejection of evil.† Macintyre, Ben. â€Å"Heroes of the Moral Resistance against Hitler; We Forget in the Retelling of History That Germans Opposed to the Nazis Were Motivated by a Powerful Religious Impulse.† The Times [London, England], 5 Jan. 2010, p. 22.Global Issues in Context In addition to non-violent resistances, some groups showed more effective and immediate results through direct revolt towards the Holocaust. The Warsaw Ghetto Uprising was one of the largest revolts. Jews were forced into walled ghettos where eventually, the Germans transported large numbers of people from the ghetto into â€Å"labor camps† but always ended up being just a place where Jews were killed. In Warsaw, during the beginning, the revolt started out small, however, the uprising grew and was the largest and symbolically the most important Jewish resistance as it inspired other urban uprising in ghettos. â€Å"...Jewish Fighting Organization had about 600 volunteers; the Jewish Military Association had about 400, and thereShow MoreRelated Examine the practical and the morale constraints upon Jewish Resistance during the Holocaust.1659 Words   |  7 Pages Jewish resistance throughout the holocaust has caused much debate among academics historians, and even governments. Historians conclude that resistance was practical and morally constrained throughout the Second World War, for a variety of reasons. Historians such as Rab Bennett, Michael Marrus, Richard L Rubenstein, and John K Roth all have written in detail about the constraints placed upon Jewish resistance throughout this period. Each of these explanations will be examined throughout this paperRead MoreThe Tragedy Of The Holocaust1708 Words   |  7 PagesThe Holocaust is, by definition, a tragedy. HaShoah, the Hebrew word for the Holocaust, translates to â€Å"the catastrophe.† The very notion of humor during the Holocaust may seem incongruous, appalling, and wildly inappropriate. Tragedy is seen as serious, while comedy is typically lighthearted in nature. However, there is precedence for ‘comic relief,’ the presence of humor in tragedy with the desired eff ect to relieve tension. Frequently, comic relief is used so that tragedy does not overshadow usRead MoreJews Were Complacent During The Holocaust1670 Words   |  7 PagesJews were complacent during the Holocaust. For most people, the only knowledge, if any, about Jewish resistance during the Holocaust comes from a fictional movie, Inglourious Basterds. While certainly based on facts, Inglourious Basterds is not a good way of expelling a myth. In actuality, and despite popular belief, Jews were not complacent during the Holocaust. They performed both violent and non-violent resistance against the Nazis, such as spiritual resistance, forming partisan groups, and startingRead MoreCircle of Death1485 Words   |  6 Pagesorder to save others? This has always appeared as one of the most difficult decisions within the nature of mankind. Those who have the ability to declare death to others easily are often seen as sadistic or demented. No culture has been faced with this decision more than the Jewish people, especially under the Nazi Regime. During the early 1940’s Nazis imprisoned Jews within â€Å"ghettos† to keep stricter control; however, once imprisoned the Nazis handed over control and maintenance to a select council ofRead MoreDefiance a Film Directed by Edward Zwick1281 Words   |  6 Pagesand his brothers lead a Jewish partisan group against Nazi forces in the struggle for their lives. The group saved more than 1200 Jews from Nazi persecution and would be one of the most successful Jewish resistance groups during WW2. The movie is well done involving multiple elements and a high dose of action and adrenaline. Defiance generally did well in theatres and was well approved by critics; and WELL displays some of the events of the Holocaust. The bitter winter brings sickness, starvationRead MoreThe Conditions And Circumstances Within The Nazi Concentration Camp System1770 Words   |  8 Pagescircumstances within the Nazi concentration camp system provide a remarkable prism through which historians can analyse the plight of Jewish people during the Holocaust. Resistance through violent rebellion against the Nazi regime’s policy of genocide is the most obvious manifestation of Jewish dissent, but the limited number of attempted uprisings in extermination camps raises profound questions about the Jewish people’s motivation to perform active resistance. Passive resistance committed by JewishRead MorePropaganda Is Spreading Of Information1617 Words   |  7 Pageseither be negative or positive just as the cause being supported may either be just or unjust. The term has a negative connotation, especially when used in political circles to refer to the rumors and lies politicians tell electorates to turn them ag ainst other politicians, governments or so that they end up being voted into office (Trueman). Everyone is susceptible to the influence of propaganda. However, its impact is more pronounced among the youth and the less educated as compared to the olderRead MoreThe Warsaw Ghetto Uprising Essay2423 Words   |  10 Pagesto the slaughter; this is one of the most famous analogies used to refer to the Jews during the holocaust. The Jews were being systematically murdered, beaten, and abused day after day, and there was almost no refusal on their part. Almost no one fought back. This however was not the case in the Warsaw ghetto. Throughout the summer of 1942, nearly 300,000 Jews were deported from the Warsaw ghetto to the Treblinka death camp. During this summer, a resistance organization known as the Z.O.B. wasRead MoreHitlers Propaganda774 Words   |  4 PagesMost of today’s population knows of Adolf Hitler as the man behind what was arguably the most inhumane act of all time, the Holocaust, and stop at that. But seldom do they consider how genius he must have been to carry out his plan and convince an entire world that what he was doing was necessary, or not even happening at all. He ruled Germany with an iron fist, using brutal force on whoever made the mistake of trying to retaliate against him, and would later cause the death of over 40 million peopleRead MoreJewish Migration And The Holocaust2907 Words   |  12 Pagesresearching texts written about Jewish Diaspora, I came across many documentary publications on Holocaust. This tragic part of Jewish history is very well documented as opposi te to the Jewish Migration. I found few authors who published articles and books on Impacts of the Holocaust on Jewish Migration. My goal in this research paper is to explore the topic of Jewish Migration by connecting it to the Holocaust. To achieve this goal, I have organized my paper in the chronological order. I have tried to