Rhetorical Analysis : The Scarlet Letter Sample Assignment

In the Bible it says, in Matthew 5: 27-28, “You have heard that it was said, ‘Do not commit adultery. ‘ But I tell you that anyone who looks at a woman lustfully has already committed adultery with her in his heart”. In the Scarlet Letter by Nathaniel Hawthorne, the main character Hester Prynne was an adulteress in the seventeenth century during the Puritan era. Three rhetorical strategies that really stood out were symbolism, archaic diction, and irony. The use of these rhetorical strategies enables Hawthorne to tell the story of the woman who was condemned for adultery and to expose the hypocrisy in a Puritan society.

The first rhetorical strategy is symbolism. In the book, The Scarlet Letter, Hester Prynne was being punished for her sins as an adulterer and was forced to wear a red “A” on her clothes at all times. Also, in the end when Reverend Dimmesdale was filled so much with guilt, reveals his own scarlet letter engraved on his chest, for he had sinned too. Another example of symbolism is Hester’s daughter Pearl. Hester went to the governor’s mansion, after she heard talk about Pearl being taken away and put in foster care because she was unfit of a mother to take care of her.

Dimmesdale assures Governor Bellingham that Pearl should not be taken away because Pearl is Hester’s reminder of the sin she has committed. The next rhetorical strategy is archaic diction. Since this book was published in 1850, and that was maybe a little over one hundred and sixty-three years ago – depending on when Hawthorne had initially started writing the book – the diction is of one we no longer speak. “She hath good skill at her needle… ‘but did ever a woman, before this brazen hussy, contrive such a way at showing it,” is an example of archaic diction.

Basically saying that Hester is good at sewing but she had (the woman speaking) never seen someone do it to seek sexual attention. Other examples of archaic diction is, “hast thou” and “if thou so choose, it will bear thee back again. ” The third and final rhetorical strategy is irony. Irony plays a big part in the whole story since the condemner is really the condemned. The question is how can you preach what you do not practice? Hester Prynne could not have possibly committed adultery on her own because she was only a woman, not the Virgin Mary.

One of her condemners was in fact the one who had impregnated her, Reverend Dimmesdale, who did not come forth to the townspeople until after proclaiming that he, himself was a sinner during his last sermon. Afterwards, we find out that he too is an adulterer and the father of Pearl. In conclusion, the author’s purpose for use of the rhetorical devices, symbolism, archaic diction, and irony was to tell the story of the woman who was condemned for adultery and to expose the hypocrisy in a Puritan society.

Dipthe “Nego-Kart”. The “Negosyo Sa Kariton” (Nego-Kart) Project

Presented to the Faculty of the College of Engineering Saint Vincent’s College Dipthe “Nego-Kart”. The “Negosyo sa Kariton” (Nego-Kart) project is one of the DOLE’s Priority Projects for 2009-2010 in line with poverty alleviation program of President Gloria Macapagal Arroyo which is intended to provide decent livelihood mainly for the benefit of marginal workers in the country’s informal sector, specifically the ambulant workers in major cities of the country.

A total of 596 nego-karts for ambulant vendors were initially distributed nationwide during the launching of the project in all regional offices of the Department of Labor and Employment (DOLE). Basically, the Nego-Kart project will provide the vendors with services that will enable them to increase, upgrade and diversify their products and services, and market the same to more buyers or customers.

Each vendor-beneficiary is provided with a total of P15,000 in assistance including a vending cart and accessory livelihood tools costing P12,000 ( 1 unit Nego-Kart w/ 3 wheeled bicycle, 1 unit Kerosene Stove, 1 pc Frying Pan, 1 pc Strainer, 1 pc Ladle), along with working capital amounting to P2,500 and training assistance worth P500.

Not only vending carts are provided the beneficiaries of the project, the DOLE also provides the recipients appropriate training in production, entrepreneurship and management skills, and initially pays for their enrolment with the Social Security System, PhilHealth and the necessary local government business permits. A total of 1,188 nego-karts are expected to be set up before the said project ends. The project is being implemented by the DOLE in partnership with accredited co-partners (ACPs) like the local government units (LGUs) and the private sector. Conceptual Framework

The governments launch this kind of project so that it can help the Filipinos to learn appropriate trainings in production, entrepreneurship and management skills. It also provides them with a sustainable and a good quality of a livelihood that can be helpful to the beneficiaries. It can also affect to beneficiaries annual income by increasing and developing their skills. The Nego – Kart will cater to ambulant vendors in the City of Dipolog, Municipality of Sindangan, Liloy and Labason of legal age who trade their goods or service without necessary business permits in sidewalks, community market places and other public market.

Dipolog, Sindangan, Liloy, & Labason Recipients Increase Family Income Nego – Kart Project IVDVOutput Name, Age, Gender Annual Family Income Intervening V Fig. 1 Schema of the Study / Schematic Diagram of the Study Statement of the Problem The main purpose of this study is to know how effective the livelihood project the Nego– Kart to its recipients. Further, the study will include the beneficiaries of the project from the City of Dipolog and the Municipality of Liloy. Specifically the study seeks to answer the following questions: 1.

What is the profile of the respondents in terms of: 1. 1 Age; 1. 2 Gender; 1. 3 Annual Family Income? 2. What are the benefits brought about by the Nego Kart to the beneficiaries? 3. How effective is the Nego – Kart project? 4. Is there a significant relationship between the benefits of the Nego – Kart project and the profile of the recipient? Hypothesis Ho1 There is no significant relationship between the benefits of the Nego – Kart project and the profile of the recipients. Scope and Limitation of the Study

This is a study that aims to know the effectiveness of the Nego – Kart on the recipients livelihood. This study is limited to the different processes to be used to know the effectiveness of the Nego – Kart on their recipients livelihood here in the City of Dipolog in the Municipality of Sindangan, Liloy and Labason. Significance of the Study If the Nego – Kart have benefits in the lives of the beneficiaries, everyone can find out (how can helps) the benefits of the Nego – Kart in their lives and can find more idea on what the other benefits of the said project are more learning about it.

The result of the study will make the beneficiaries aware or to know how effective are the Nego – Kart project in increasing their annual income and to have a profitable and sustainable business. Making their income level at par with that of the minimum wage earners at the least. Definition of Terms Ambulant. It is moving from place to place. Alleviation. It is to make lighter or mitigate. Beneficiaries. It is one that benefits from something, the person designated to receive the income of a trust estate or the person named (as in an insurance policy) to receive proceeds or benefits. Diversify.

It is to engage in a variety of commercial operation to reduce risk. Entrepreneur. It is a person who invest in a new business or one who organizes, manages, and assumes the risks of a business or enterprise. Income. It is a gain or recurrent benefit usually measured in money that derives from capital or labor, it also the amount of such gain received in a period of time. Investment. It is a purchase by a producer of a physical good, such as durable equipment or inventory, in the hope of improving future business. Livelihood. It is a means of supporting one’s existence, especially financially or vocationally.

Management Skill. It is the practice of understanding, developing and deploying people and their skills. Well-implemented skills management should identify the skills that job roles require, the skills of individual employees, and any gap between the two. Vending – Is an act of selling goods for a living. CHAPTER 2 Review of the Related Literature This chapter discusses all about the guidelines of the Nego – Kart project by the DOLE and its effectiveness to the projects recipients from selected beneficiaries in the City of Dipolog, Municipality of Sindangan and Liloy.

Related Literature The government come up with a simple solution of one of the major problem in our country. A project that surely makes the skills of the recipients in business to be develop and make them a great boosting income. This project is one of the latest livelihood initiatives of the labor department that is designed to help uplift the financial condition of rural residents by providing the deserving beneficiaries with livelihood grant through the provision of a push cart, tools, equipment, and raw materials to serve as their working capital.

The Nego – Kart, a short term for “Negosyo sa Kariton”, is one of the priority projects of Dole that is aimed to provide the marginal workers, especially the ambulant workers, with decent livelihood to augment their income and it is a project for the ambulant vendors in major cities of the country. The project will assist the ambulant vendors in making their existing livelihood undertakings grow into profitable and sustainable business.

This project in line with poverty alleviation program of President Gloria Macapagal Arroyo which is intended to provide decent livelihood mainly for the benefit of marginal workers in the country’s informal sector, specifically the ambulant workers in major cities of the country. A total of 596 nego-karts for ambulant vendors were initially distributed nationwide during the launching of the project in all regional offices of the Department of Labor and Employment (DOLE).

Basically, the Nego-Kart project will provide the vendors with services that will enable them to increase, upgrade and diversify their products and services, and market the same to more buyers or customers. Each of the beneficiary of this project is provided with a total of P15,000 in assistance including a vending cart and accessory livelihood tools costing P12,000 ( 1 unit Nego-Kart w/ 3 wheeled bicycle, 1 unit Kerosene Stove, 1 pc Frying Pan, 1 pc Strainer, 1 pc Ladle), along with working capital amounting to P2,500 and training assistance worth P500. Not only vending carts are provided the beneficiaries of the project.

The DOLE also provides the recipients appropriate training in production, entrepreneurship and management skills, and initially pays for their enrolment with the Social Security System, PhilHealth and the necessary local government business permits. The beneficiaries of this project are known ambulant vendors selling “kwek-kwek, tempura, fish balls, ice cream and etc. ” in the City of Dipolog and in the Municipality of Sindangan, Liloy and Labason with inadequate or low income, have no access to productive resources, and with less equipment used in selling.

DOLE encouraged the recipients to make their food vending activities grow into a more productive and profitable business and also reminded them of the responsibilities as recipients, adding that DOLE will keep on monitoring them through their City/Municipality Mayor and give them on-hand guidance. EFFECTS The Nego – Kart project by the DOLE are really of great help to the project beneficiaries it is because the said project makes the beneficiaries existing livelihood grow into profitable and sustainable business.

It also gives a great boosting income to their family that it will surely helps in their financial problem and to have a little savings for the family future. It helps the beneficiaries of the project to have a less capital but a great and a sustainable business and also the project will encourage the vendors to work harder to earn out from selling their products as the income is wholly their own. SERVICES The Nego – Kart project by the DOLE provides the ambulant vendors with services/assistances that will enable them to increase, upgrade and/ or diversify their products or services and market these to greater number of buyers or costumers .

The services/assistance are as follows: ? Acquisition of vending cart and accessory livelihood tools; ? Provision of working capital for procurement of production of marketable goods or services ? Trainings on production skills, entrepreneurship and business management ? Business permit to operate in designated area. The ambulant vendors will be assisted in informing their organization that will promote mutual aid and protection such as collective savings mobilization for social protection coverage under SSS/PhilHealth and other common concerns. Target Areas and Clients

The Nego – Kart project will be implemented in major cities of the country with heavy concentration or large number of ambulant vendors. One of the LGUs recipients are the LGU of Dipolog City and the Municipalities of Sindangan, Liloy and Labason. It will cater to ambulant vendors of legal age who trade their goods or services without the necessary business permits in sidewalks, community market places and other public places. Program Implementers The Nego – Kart project implemented by the DOLE in partnership with the LGUs, private sectors and other interested parties which shall co-share the provision of the aforesaid services/assistance.

Aside from the 10 vending cart of the DOLE’s Project given in Dipolog, the LGU of Dipolog headed by the City Mayor Evelyn Uy use the pattern of the project to have an additional cart to be given to the ambulant vendor in the City. Justification of the Study This studies helped in determining the effectiveness to the livelihood recipients in the City of Dipolog, Municipality of Sindangan, Liloy and Labason, Zamboanga del Norte. Chapter 3 Methodology This chapter contains the method used, research environment, research respondent, research instrument, data gathering procedures and statistical tools.

Research Method Used The Study uses the descriptive method of research. The profile of the project beneficiaries from Dipolog City , Municipality of Sindangan and LiLoy was taken and also some information of the project from the provincial office of the Department of Labor and Employment. The researcher with the help of some experts the questionnaire – and were distributed to the respondent – to supply other data needed in this research. Research Environment The study was conducted in Dipolog City, Municipality of Sindangan and in Liloy in the Province of Zamboanga del Norte.

Dipolog City is a 2nd class and capital city in the province of Zamboanga del Norte, Philippines. The place sits on the Western edge of Mindanao Island, at the Northwestern rim of the Zamboanga Peninsula, bounded by Dapitan City in the North, Municipality of Polanco in the East, Municipality of Katipunan on the South and Sulu Sea in the West side. As of 2010 survey the City has a population of 113,118 people. The predominant language used is Cebuano by about 97. 00% of the population. Sindangan is a 1st class municipality in he province of Zamboanga del Norte, Philippines. According to the 2010 Survey on Population and Households, it has a population of 94,146 people in 20,217 households. There are plans in making the municipality of Sindangan into a city since the growth of its economy is enough for its conversion to become a city. The people in Sindangan are just waiting for the government officials to work for its cityhood. Liloy is a 3rd class municipality in the province of Zamboanga del Norte, Philippines.

It has 37 barangays with a total land area of 12,843 hectares with a total estimated population of 39,015 in 2010 survey. It is mainly as agricultural community whose existing economy relies mostly on crop production such us corn, rice, coconuts, peanuts, and root crops. It is also known as “The Peanut Capital of ZaNorte”. Labason is a 3rd class municipality in the province of Zamboanga del Norte, Philippines. According to the 2010 survey, it has a population of 40,375 people in 6,702 households. Research Respondent

The research respondent of this study are 25 beneficiaries from Dipolog City, 20 beneficiaries from the Municipality of Sindangan, 20 beneficiaries from the Municipality of Liloy and 10 beneficiaries from the Municipality of Labason. City/Municipality| Population| Project Beneficiaries| 1. Dipolog City| 113,118| 25| 2. Sindangan | 94,146| 20| 3. Liloy| 39,015| 20| 4. Labason| 40,375| 10| T O T A L| 286,654| 75| Reasearch Instrument The researcher constructed a questionnaire inquiry. This researcher-constructed questionnaire was submitted to the adviser for a review, examine and suggestion.

Data Gathering Procedures When the questionnaire was already valid and reliable then the researcher asked the permission of the different barangay beneficiaries in Dipolog City, Municipality Sindangan, Liloy and Labason in order for the researcher to conduct the study. The researcher personally administered the questionnaire to the project beneficiaries. The questionnaires were administered as soon as the permission was granted by the barangay officials, with 100 percent retrieval of the questionnaire from the respondent. Sources of Method Sources of materials used in this research were pamphlets and handouts.

The researcher also took advantage of bulletins and some information at the website of the DOLE. Other printed materials which showed relatedness to the study were likewise utilized as published and unpublished master’s thesis. However, majority of the data was collected from the provincial office of DOLE, Human Resource department in each City/Municipality’s LGU beneficiaries. It also collected from the responses of the questionnaire, interview and observation. Statistical Tools After the data were collected and consolidated by the statistician for analysis in descriptive and inferential aspect.

Cittic Tower II Solution

The company should decide whether to go ahead with the Citic Tower II project or not. The following alternatives can be used to address the problem: NPV: Net present value (NPV) is defined as the total present value (PV) of a time series of cash flows. It is a standard method for using the time value of money to appraise long-term projects. The method is used for capital budgeting, and widely throughout economics, it measures the excess or shortfall of cash flows, in present value terms, once financing charges are met.

OPTION PRICING: The buyer of a call option gets the right to buy the underlying the underlying asset at affixed price, where as the buyer of a put option obtains the right to sell the underlying asset at a fixed price. Alternatives to the binomial model In the binomial option pricing model, the underlying asset and risk free lending or borrowing are combined to create a portfolio that had the same cash flows as the option being valued; we called this portfolio the replicating portfolio.

Although the binomial model provides the intuitive feel for the determinants of the option value, it requires a large number of inputs in terms of expected future prices at each node. As we can make time periods shorter in the binomial model, we can make assumptions about asset prices. We can assume that price changes becomes smaller as time periods approaches zero leading to continuous price process.

The Black – Scholes Model

When the price process is continuous, that is price changes become smaller as time period gets shorter, the binomial model for pricing options converges on the Black – Scholes model. The model allows us to estimate the value of any option using a small number of inputs, and it has shown to be remarkably robust in valuing many listed options. The Black-Scholes model is used to calculate a theoretical call price (ignoring dividends paid during the life of the option) using the five key determinants of an option’s price: stock price, strike price, volatility, time to expiration, and short-term (risk free) interest rate. The original formula for calculating the theoretical option price (OP) is as follows: Where: The variables are: S=stock price X=strike price = time remaining until expiration, expressed as a percent of a year r = current continuously compounded risk-free interest rate v = annual volatility of stock price (the standard deviation of the short-term returns over one year). See below for how to estimate volatility. ln = natural logarithm N(x) = standard normal cumulative distribution function e = the exponential function

Volatility

Volatility refers to the amount of uncertainty or risk about the size of changes in a security’s value. A higher volatility means that a security’s value can potentially be spread out over a larger range of values. This means that the price of the security can change dramatically over a short time period in either direction. A lower volatility means that a security’s value does not fluctuate dramatically, but changes in value at a steady pace over a period of time. CASE BACKGROUND Citic Pacific Limited was a real estate company incorporated in Hong Kong. The CPL’s activities include civil facilities such as complex bridge, road and tunnel facilities to power generation, environmental projects, aviation and telecommunications.

The development of Citic tower represented an impressive achievement in development management. In 1999, despite the property market being affected by the post-Asian financial crisis, weak demand and falling prices, Citic tower still maintained a relatively high occupancy rate. Given the cyclical nature of the market, CPL’s property revenues were significantly less predictable than the revenues from the company’s infrastructure assets. Property investment projects were generally based on 12 percent required return on investment based on CLP’s weighted average cost of capital.

The present issue that Larry Yung, Chairman of Citic Pacific Limited is facing is regarding the impressive Victoria harbour and an undeveloped prime waterfront site, which he planned to call as Citic Tower II. Larry thought CPL could acquire the site and develop it into another grade A office building in central. The asking price of the land was HK $1 Billion, and the estimated scale of the building and development costs were comparable to those of Citic tower. On going through the feasibility report, Larry found to his disappointment that investing in Citic tower II did not seem to bring about clear positive returns.

Under the rigid assumptions set by property development team and the Net Present Value, the present reflected a present value of around HK $1. 54 billion and a cost of around HK $1. 6 Billion. Larry intuitively felt that the decision was too deterministic, as it did not allow for any flexibility, managerial discretion or strategic actions. The option to purchase the land would allow CPL to defer the decision to develop for one year. It also involves some risks. If the project was truly a winner, waiting would mean a loss or deferral of its early cash flows.

However, since the project did not appear to be clearly attractive at this point, waiting could prevent a big mistake. CPL was hoping that the seller would grant CPL an option to defer purchase on the land, exercisable at the end of one year, thereby allowing CPL to defer the whole project for one year. With the talks, the seller had shown an interest in granting an exclusive option for 12 months. However, as the price of the option, it had requested an equity stake of 5% in the completed project.

Problems Identified

  • The Larry should decide between whether to allow the board to reject or go ahead with the project based on the analysis that was given. Under the rigid assumptions set by the property development team and the net present Value Rule, the project reflected a present value of around HK $1. 54 billion and a cost of around HK$1. 6 billion. Due to the extremely rigid assumptions the decision was too deterministic, as it did not allow for any flexibility, managerial discretions or strategic actions. So there is a need to go for more exhaustive analysis taking all the factors into consideration and taking into account different types of analysis like discounted flow analysis.
  • The decision to delay the development of Citic Tower II will be better than the analysis suggested. When the market is very volatile, the mark of a successful project was when the developer knew when to pull in the reins and when to let them out. With taking this into consideration it is quite possible that the outlook for the project could change if it could be deferred or otherwise rescaled.

With a negative cash value, launching the project at that point of time was unambiguously sub-optimal. However there is a possibility that things could change over time. The property market could be on the upturn again. But while implementing this strategy, some additional costs have to taken care of. In this case the seller did show an interest in granting an exclusive option for 12 months. However, as the price option, it had requested an equity stake of 5 % in the completed project. ANALYSIS: The analysis is done with the help of Black-Scholes model which is generally used for calculating the value of options.

The various inputs required for the model are the value of the underlying asset, the variance in that value, the time to expiration on the option, the strike price, the riskless rate, and the equivalent of the dividend yield. Let us first determine each input required for applying the Black-Scholes model for the current model. S. No 1 Input Value of the current asset Description It is determined by the management team that the project reflected a present value of HK $1. 54 billion. Hence we can take this as the current estimated value of the project.

Also, it is given that the seller requested 5% equity stake in the completed project. Hence 5% of the $1. 54 billion has to be deduced from the value to get the actual value of the project. Value value of the project = 95% of HK $1. 54 billion = HK $1. 463 billion 3 Time to expiration of the option Strike price is the total investment that is required to be made in the project. The investments that are to be made in the different years, in case we have made a decision to invest in the project are given in exhibit 1.

The investment spans across a period of three years. Hence, when determining the strike price of the project, the appropriate value can be obtained by calculating the present value of all the investments to be made for the project. t = 1 year 4 Strike price Strike price is the total investment that is required to be made in the project. The investments that are to be made in the different years, in case we have made a decision to invest in the project are given in exhibit 1. The investment spans across a period of three years.

Hence, when determining the strike price of the project, the appropriate value can be obtained by calculating the present value of all the investments to be made for the project. X = Present value of $1. 79 billion = $1. 6 billion 5 Riskless rate Generally the risk free rate to be considered should correspond to the riskless rate which has a period corresponding to the duration of the option itself, which is one year. Hence, we have to take the riskless rate corresponding to the month of July 2000 and for the 12 month bills = 6. 27% Calculating d1: The value of d1 can be calculated using the formula specified in the beginning in the background knowledge required. This requires inputs which we have already calculated. Hence, calculating d1, we get d1 = 0. 10295 Calculating d2: d2 = -0. 24967 N(d2 ) = 0. 401 N(d1 ) = 0. 541 Calculating the net present value of the project: After calculating all the required values, we just need to substitute all values in the Black-Scholes model to get the final value of the project.

Substituting the values, we get Value of the project using Black Scholes model = HK $188 million Hence, considering the volatilities in the values of the industry, the net value from the project is coming to be positive and significant. This value means that the management has taken a good decision by taking the option of considering the investments in the project.

Most Probable Solution

The Citic pacific Limited (CPL) deals with the real estate market which is highly volatile. Discounting Cash Flow method (DCF) which is the most common method used in evaluating the projects fails when there is uncertainty(volatility) involved in the future cash flows or if there is huge fluctuation in the discount rates used. Hence Black-Scholes model is can be used to evaluate the investment decisions when volatility is involved. The current investment decision to invest in the Citic Tower II project is evaluated using the BlackScholes model and we got a positive value of HK $188 million. The recommendation for the Citic Pacific Limited would be to go ahead with the project.

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