Stock Valuation And Analysis Of Proton Finance Essay - Free Essay Example

Sample details Pages: 12 Words: 3487 Downloads: 3 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? 1.0 Introduction This report shows our stock valuation on Proton that is listed on Bursa Malaysia, by using 2009 as the latest financial year. Fundamental analysis framework is being used. First, we start with the qualitative aspects of a company like Business Model, Competitive Advantages, Management, Financial and Information Transparency, Governments Role, Customers, and finally Latest News. Don’t waste time! Our writers will create an original "Stock Valuation And Analysis Of Proton Finance Essay" essay for you Create order This will be shown on sector Qualitative factors section. Next we dive deeper to company analysis. We estimate the intrinsic value of the companys common stock using the general approaches in fundamental analysis. It consists of Price/earnings ratio, Price/cash flow ratio, Price/book value ratio and Price/sales ratio. This will be shown on fundamental tools section. Based on the various values that we have estimated above, we find a single value that most appropriate as companys common stock price and compare it with the current market price. Determination on it will include whether the stock is overvalued, undervalued or correctly priced, and recommendation to investors is given. This will be shown on Dividend Discount Model section. Finally, we provide our own insights and reasoning, and this will be shown on Insights and reasoning section. 2.0 Qualitative Factors 2.1 Business Model The main business activities of the Group encompass vehicle engineering, research and development, manufacturing, distribution, sales and after-sales services. The Group is also involved in financial services and property management in supporting the main business activities. The Group also has in its portfolio, the world renowned Lotus sports cars. 2.2 Competitive Advantages On 2 September 2008 Detroit Electric announced plans to progressively roll out affordable electric vehicles worldwide by the end of 2009. Proton cars are to be used and tested in order to validate Detroit Electrics technology and explore the potential to collaborate to create a range of pure electric cars. Detroit Electric has to date integrated its electric drive systems into Protons Lotus Elise and two Proton passenger cars. Detroit Electric hoped to collaborate with Proton to sell electric cars for the Southeast Asian market or to use Protons existing manufacturing platform to produce electric cars under the Detroit Electric brand. The company planned to roll out 30,000 electric cars by 2010, as he demonstrated their performance at a Proton test circuit in Shah Alam, west of the capital Kuala Lumpur. Detroit will use Protons tooling and production line for its vehicles, but with different styling than Protons existing line. In return, Proton will get to sell its own cars in S outh-East Asia with the Detroit lithium-ion electric power train insidethe incredibly sci-fi sounding Pure Electric Magnetic Flux Motor. Fossil fuel is a finite resource so we will have to find an alternative energy source, like the primary drive of the car is electric and the motor can be supplied with current in many different ways fuel cells, batteries, wireless transmission, or maybe we will see a future where our roads are magnetized to interact as linear induction motors with vehicles running over it. Proton expects to record RM2billion in the next four years in line with its strategic agreement with Detroit Electric for licensing and assembly. 2.3 Management Proton is exposed to a multitude of risks, either residual or inherent in the course of its daily operations. Ensuring that these risks are effectively managed and capitalised is imperative in order to ensure maximization of shareholders value. The Group Risk Management Unit is available to ensuring that an appropriate risk management framework exists within the Group and is effectively implemented to manage the key risks of the organization on an on-going basis like Market Risk, Credit Risk, Country Risk, Regulatory and Intellectual Property. Major initiative includes Risk Assessments for Business Planning, Risk Assessment for New Product Introduction, and Risk Awareness and Profiling Sessions. 2.4 Financial and Information Transparency Sufficient transparency implies that a companys financial releases are written in a manner that stakeholders can follow what management is doing and therefore have a clear understanding of the companys current financial situation. For Proton, its financial situation is sufficiently showed out in its annual report clearly. 2.5 Governments Role Proton is Malaysias largest investor in research and development, spending about RM5 billion on it. Government policy also has kept the Proton cheaper than other makes by the simple strategy of taxing the competition, while giving Proton exemptions or rebates from these same taxes. Duties on packages of parts for assembly into complete cars in Malaysia is said to average about 30%. Proton is exempted from most of these. 2.6 Customers Proton exports cars to the United Kingdom, South Africa, and Australia and the company is aggressively marketing its cars in several other countries including the Middle East. Besides that, Proton has also been exporting a small volume of cars to Singapore, Brunei, Indonesia, Thailand, Nepal, Sri Lanka, Pakistan, Bangladesh, Taiwan, Cyprus and Mauritius. 2.7 Latest News Latest launch of the Exora Malaysias first home-grown MPV has surpassed even the most demanding market as n terms of quality, the Exora is PROTONs first model to breach the 80% CFC (Concern Free Car) level and having surpassed all European crash regulations, the Exora is at par with the other MPVs in the market. This proven that Protons car quality has being bring to a better and safer level, as we usually complaint on Protons low quality design. Exora also won Asian Auto VCA Auto Industry Awards 2009 Best Local Assembly MPV too. 3.0 Fundamental tools 3.1 Price to Earnings Ratio The Price to Earnings Ratio (P/E) is looks at the relationship between the stock price and the companys earnings. Price to Earnings Ratio (P/E) = = RM = 11.64 * Earnings per Share (EPS) = = 33.6sen The P/E gives us an idea of what the market is willing to pay for the companys earnings. The higher the P/E the more the market is willing to pay for the companys earnings. The other way round, a low P/E may indicate as lack of confident by the market or it could mean is a sleeper that the market has overlooked. There is no correct answer for the interpretation of P/E because part of the answer is depend on the willingness to pay for the earnings. The more we willing to pay means that we believe the company has good long term prospects over and above its current position. Another investor may not see the same value and think that we are wrong. Because of that, some investors may read a high P/E as an overpriced stock and that may be the case, however it can also i ndicate the market has high hopes for this stocks future and has bid up the price. In this case, we can said that the Protons P/E is overpriced because we can see that the companys growing is very slow but the P/E is consider high, so we said that this is overpriced. Since there is unstable variable EPS trend between years to year, therefore we assume that the EPS trend will drop by 5% for next year. Besides that, we make this assumption also because of the slow growing of the company. Intrinsic Value = P/E estimated EPS* = 11.64 0.3192 = RM 3.72 *Estimated EPS = RM 0.336 95% = RM 0.3192 Intrinsic value is the value investors use a variety of analytical techniques in order to estimate for the stocks and hoping to find the true value of the investment exceeds its current market value. For this case, the intrinsic value is RM3.72 which is lower than the market stock price, RM3.91 this means that the companys stock has more expensive than the true value. 3.2 Price to Cash Flow Ratio The Price to Cash Flow Ratio (P/CF) is a ratio used to compare a companys market value to its cash flow. This ratio seems better than P/E because its more likely to be accurate, as earnings data can be manipulated more easily than cash flow can. Price to Cash Flow Ratio (P/CF) = = RM = 9.68 * Cash Flow per Share = = = 0.404 The P/CF is used to evaluate the investment attractiveness, from a value standpoint, of a companys stock. This metric compares the stocks market price to the amount of cash flow the company generates on a per-share basis. This ratio is more reliable basis than EPS to evaluate the acceptability, or lack thereof, of a stocks current pricing. Other than that, many investors also prefer P/CF since it removes the effects of non-cash factors like depreciation. By calculating the ratio, the ratio gives us the P/CF that indicates as of Protons stock at RM3.91 was trading at 9.68times the company cash flow of RM0.404 per share. The average P/CF tends to vary among industries. For more capital-intensive companies, P/CF is often lower than those businesses that have lower capital requirements. For this case, Protons seem that have a quite high P/CF that mean than this company have a lower capital requirement that not easy to progress. Since this company have lower capital req uirement, mean that this company would not have much progress in the future. So that in theoretically this company may not have much change in operating cash flow activities or maybe drop. Therefore, we can make a estimation of the companys cash flow per share may decrease by 3%. Intrinsic Value = P/CF estimated Cash Flow per Share* = 9.68 0.39188 = RM 3.79 *Estimated Cash Flow per Share = RM 0.404 97% = RM 0.39188 The intrinsic value calculated is RM3.79 which is lower than the market stock price, RM3.91 by RM0.12. This shown that there is not worth to invest on this company but besides this still got much consideration to consider before invest such as the future progress of the company. We also can consider to invest in this company since there is a very small different between the intrinsic value and market value. 3.3 Price to Sales  Ratio Formula: Sales Price Per Share = Total Revenues or Sales Average Shares Outstanding Beginning total shares outstanding = 462 056 923+87 156 079 = 549 213 002 Ending total shares outstanding = 462 056 923+87 156 079 = 549 213 002 Average Shares Outstanding = Sales Price Per Share = Formula: Price to Sales Ratio = Stock Price Sales Price Per Share = = 0.382 This ratio provides a relationship between the current price of the stock and the total sales per share of the company. The lower the result you get is, the higher the value the market places on the stock. If the P/S ratio were high, that would mean that each ringgit invested in the company would generate low sales revenues, and generally could be said that the company is overvalued. Investors often use the P/E ratio and the Price to Sales Ratio as complements of each other. Usually Price to Sales Ratio provided as a strong alternative only if P/E ratio is non-existent, in the other words, the company currently dont have any earnings. If the company has high P/E, but a low P/S Ratio, it could imply that the company cannot turn all the profits into a net profit and generate value for their shareholders, which also mean that they failed to maximize the shareholders wealth. As a rule of thumb, companies with a P/S Ratio below 1.0 are recommended for a purchase. But in this case, currently the company had a profit of RM184.6 million, so the P/E ratio will be more preferable for us to decide whether to buy the stock, hold the stock or sell the stock. Although current P/S ratio shows a low ratio of 0.382 which if under condition of no earnings, it encourages us to invest to the company. But after consider the probability of company unable to turn sales into profit as well, and the high P/E ratio which brings the risk of over expectation over the stock, we recommend that take the P/E ratio as main indicate, which not to buy the stock. Investors believe the future value will go up due to proton cooperate with Detroit electric to assemble pure electric vehicles for export. So base on this information we assume the sales price per share will increase 5%. Intrinsic value: 10.236 x 105% = 10.75 10.75 x 0.382 = 4.10 In the future the stock price will increase to 4.10, it show the value is higher than 3.91. It means that the price of the stock has gone higher than what it has been recently. If you are looking at selling it, now is the time to sell. 3.4 Price to Book  Ratio Formula: Price to Book Ratio = Stock Price Book Value per Share = Book value can be thought of as what would be left over for shareholders if a company shutters operations, pays off its creditors, collects from its debtors, and liquidates itself. If the P/B ratio is less than one, it can mean the market is nervous about the value of the company and is unwilling to pay full price. Not this only a P/B ratio below one can also mean investors have incorrectly valued the stock. Furthermore, a lower Price to Book ratio could mean that the stock is undervalued. However, it could also mean that something is fundamentally wrong with the company. As with most ratios, be aware this varies by industry. So in this case, the ratio is 0.46 the investor should not invest on this proton company due to the market is nervous about the value of the company and is not willing to pay full price. The total book value increase by sale or issue new shares units. Base on the historical Shareholding Statistics Analysis the book value will maintain due to proton ne ver issue new shares to the market. Since they dont have sale or issue new shares means the intrinsic value is remain the same. 3.5 Dividend Discount Model DDM Dividend Discount Model is a procedure for valuing the price of a stock by using predicted dividends and discounting them back to present value. The idea is that if the value obtained from the DDM is higher than what the shares are currently trading at, then the stock is undervalued. The DDM is calculating by the formula of: Value of stock = Dividend per share / (Required rate of return Dividend growth rate) Which: Required rate of return (ROR) = Rf + Bi (Rm Rf) Dividend growth rate (g) = ROE x b To calculate the DDM, firstly we need to compute the value of required rate of return, and then follow by the dividend growth rate. Required rate of return = Risk free rate + (market rate of return risk free rate)* Beta of the stock = 2.053 + 1.037 (4.103-2.053) =4.179% Dividend growth rate (g) = ROE x b = 3.509% x 88.843% = 3.118% *Return on Equity (ROE): = Net Income/Average of Shareholders Equity = = 3.509% Stockholders Equity = Total Assets Total Liabilities *Retention rated (b): = Net Income Dividend Net Income = = 88.84% After get all the values needed for the DDM formula, we can come out the intrinsic value which count out with DDM: V0 = = = 3.77 * Dividend payout = 0.336 x (1 0.8884) = 0.04 Protons latest last quarter price of RM 3.91 per stock shows that the dividend discount model suggests that Proton is currently been overvalued. The difference between the actually price and the intrinsic value is RM 0.14, which is higher 3.77%. Theoretically its recommended that better sell off the stock on hand, because current stock has overvalued. But in our opinion, since the difference only RM 0.14, we can also choose to hold the stock and see the situation a while more. This is because based on the data of December 2009, stock price of Proton also fluctuate between RM 3.90 and RM 4.10, a narrow range. A high actual price doesnt mean that it must be sell off, maybe is because of high expectation of market investors thought that Proton company can generate profit for them? Although currently its been overvalued, but since its stock price considered as quite stable also, which the range of fluctuation is not high , so we also can choose to hold the stock and see the situation first, before we make the decision. Maybe we will loss much of money just because of scared bearing some risk, indeed we know that, no risk equal to no return, sometimes although the calculation show a negative signal, but maybe we also can go through for it, some more the difference between the intrinsic value calculated and actual price just got RM 0.14 difference. 4.0 Insights and Reasoning After look at the qualitative factors and the result of fundamental tools, we have different results that affect our decisions. For short term, we should consider hold it if we have buy any stocks from it. However, when we are looking on the long terms, things are getting different. Proton is still quite unstable yet, as it is fluctuate as the international market having changes. Currently, we can see the financial statements values are having rises and drops and resulting positive earnings and negative losses. This is because Proton only has better market in Malaysia, but not in international market. It only contributes a little percentage on international market share on automotive industry. But, thing may getting different in the future. First, we usually heard consumers complaining on the low qualities of Protons cars, thus results a broad mind that Proton produces dangerous and low quality cars, it is not worth to buy it if you are think your life worthy. However, by the latest production of Exora, things are getting different. To ensure our loved one is protected in the Exora, Proton had spent millions of dollar in crash testing the Exora. A total of 32 unit of the Exora had been destroyed during the process. The crash test is done using the Applus+ IDIADA facility in Spain. All those test were done to ensure the Exora obtain Euro NCAP 4 star standards. With all the safety features developed by the Protons engineer, the Exora managed to get the 4 star Euro NCAP rating out of the maximum of five. This meaning that our Protons cars is getting par with other famous branded cars on safety level. This is aided further by the lotus technician that doing handling adjusted of Protons cars. Protons cars quality is getting higher, is we believe it will improve furthermore in the future. When that happen and our broad mind of Proton low quality cars does not exist anymore, Proton will have a more stable market, not just in Malaysia, but in the international market. Next, what we concern is the partnership with Detroit Electric. As we known, the precious material on earth petroleum is not infinite. It has its limit and going to finish soon. So, many will find alternatives to aid this problem, and electric cars are one of it. The Magnetic Flux Motor Technology ensure environment friendly and did not use single petroleum at all. We believe in future, when petroleum is almost finished, electric cars that charge their car through batteries will become greatly popular among the consumers, as that time petroleum price will be sky high and impossible to reach by normal consumers. Our opinion on Proton actions that partner with Detroit Electric is that Proton done a good job to looking in the future. Maybe other competitors will rise along, but Proton started earlier than other. This initiative will bring great advantages to Proton. When we have looking on those possibilities, we conclude that Proton having great potential to grow strong ly in the future, maybe not in five or ten years, but after it, in the long terms. When that happens, the share prices will rise greatly and become a great share to invest with. Thus, we can actually invest our money on it, when the price is still low, as it may multiply its value greatly in the future, and bringing a very good return. 5.0 Conclusion Fundamental analysis is the process of looking at a business at the basic or fundamental financial level. This type of analysis examines key ratios of a business to determine its financial health and gives you an idea of the value its stock. Many investors use fundamental analysis alone or in combination with other tools to evaluate stocks for investment purposes. The goal is to determine the current worth and, more importantly, how the market values the stock. Various analyses had done on Proton, and this report shows it all. From the qualitative brief market analysis and relevant industry analysis, to the quantitative the relative valuation techniques of fundamental analysis Price/earnings ratio, Price/cash flow ratio, Price/book value ratio, and Price/sales ratio. From our interpretations, in short terms, Proton is still not a good company to invest with, due to its risk that seemly high compare to others. However, we have to remember that usually high returns are bring ing by high risks. When we are looking into the long terms future, we believe that Proton will grow greatly and bring back great returns to us. In conclusion, if we are looking on the short terms, we should not invest on Proton due to its high risk and low return. But when we are looking on the long terms, we should do the opposite ways, as we forecasted that its return will multiply itself in the future.

Biology lab Essay - 1805 Words

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Summary of Shooting an Elephant Free Essays

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Mcdonalds And You Essay Paper Example For Students

Mcdonalds And You Essay Paper Mcdonalds and youMcDonaldization of Society In todays complicated and ever changing society, we often try to achieve a sense of stability and familiarity around us. One way our culture has tried to make life a little easier is by implementing a function now know as McDonaldization. McDonaldization is defined as the process by which the principles of the fast food restaurant are coming to dominate more and more sectors of American society as well as the rest of the world. (1) The success of McDonalds, and of McDonaldization as a whole, is due to four basic factorsefficiency, calculability, predictability, and control. One of the first functions of McDonaldization is efficiency. Efficiency means choosing the optimum means to an given end. In our society, people like to have things go as quickly and as smoothly as possible, but they do not want to find out the fastest way themselves. Instead, people like to have a system that has already been used and that they know works. Efficiency has its advantages for both consumers, who get what they want quickly and with little effort, and for workers, who can perform their tasks in a simple manner. The fast food industry is very streamlined, because hamburgers are the simplest food there is to make. Other foods also do not need a lot of ingredients, and they are simple to make and to eat. Most of the food is also prepared so one can eat it with their hands, thereby reducing the need for utensils. In the process of McDonaldization, consumers are forced to do a good deal of work as well. They have to stand on line, carry their own food, and throw out the garbage. This is not as efficient for the consumer, but it saves time for the workers. Education, health care, and the work place are all becoming McDonaldalized in order to become more efficient. 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One of the first places predictability became common was with motel chains. Before motels became franchised, guests didnt know exactly what they would be getting, for the good or the bad. But then hotels such as Holiday Inn and Howard Johnsons started, and guests knew exactly what they were going to get when they stayed there. This new practice was copied in the food industry, namely by McDonalds. When the darkness falls and there is no light, eve Essay One aspect of university life which has become greatly McDonaldized is the registration process. At Hofstra, students must choose their own classes from a given list, and then meet with their advisor to approve it. They then have to take their registration card to Memorial Hall, where they take a number, and wait for their turn to be called. Only then can your complete schedule be finalized. For the first factor of McDonaldization, efficiency, the registration process is definitely not up to par. When students first get to Memorial, they are forced to take a number, like at a deli counter. They then must wait. And wait. And wait, just for their number to be called. Students are forced to wait for sometimes as long as three or four hours to make a schedule. Although it is better than a random free for all, with everyone scrambling around at the same time, there is still much that can be done to improve it. At some parts of the day, there are as few as three windows open, with more than one hundred students waiting. This process can hardly be called efficient, when some other universities have phone or electronic registration, which can be completed in a few minutes. Calculability is also seen during the registration process. The main idea is to try to complete as many schedules in the shortest amount of time. However, this causes students to not receive any individualized attention, and they are forced to make their schedules on their own with little guidance. This is because the main interest is on quantity, rather than the quality of the schedules. In fact, the school prefers to have the lack of guidance, because it causes students to take unnecessary credits, and they then must spend more time in school, while paying even more money. This system is fairly predictable, although not in a good way. During registration time, students know that they will have to spend many hours just waiting in line with nothing to do. They also can predict there will not be any seats left, that half of the windows will be closed by lunch time, and that it will always be about a million degrees in the waiting area. Students also are used to the gray schedule booklets, as well as the yellow registration cards. Seeing either of those items leads the students to think about exactly what they must go through, in order to register successfully. The final element, control, is seen as well. Students are being controlled by a tiny little slip of paper they hold in their hand, which has a simple number on it. That number signifies their place on line, but it was generated by a computer, which keeps track of how many people are waiting. Students also rely on the kiosk system, which shows which classes are still open, and which have been closed out. These factors help keep registration as a controlled process. McDonaldization is becoming more and more prevalent in todays changing world. However, it allows us to expect certain things, helps us to manage our time better, and make life in general a little bit simpler. It also, however, cuts down on the individuals of our society, and forces them to conform to a set standard, which is considered the norm. Some places are able to use McDonaldization effectively, while others are still struggling to implement it in a way which makes it work. It is a complicated process, which requires a good deal of thinking and brainstorming to manage successfully. All in all, McDonaldization has both positive and negative impacts on our world.Bibliographysorry

Troubleshooting For Soft Essays - Booting, Task Manager,

Troubleshooting For Soft Programs running in the Background Sometimes you will run into the problem where two programs that are installed on your PC conflict with each other and refuse to run at the same time. It can be tricky to find the culprit, because you think that no other programs were running, so what could possibly conflict? You'd be surprised at how many programs are running on your PC right now. Take a look right now and be amazed. Push Control (Ctrl), Alternate (Alt) and Delete (Del) on your keyboard right now. You should now see a dialog box labeled Close Programs. In there is a list of some pretty funny looking names. Each one of those is a program running right now in the background. Didn't expect to see that many, did you? Two of the items listed here are always there, that is Explorer and Systray. Those are Windows components and they are supposed to be there. But everything else is a program running right now that could be a possible culprit for your software conflict. They get loaded automatically every time you start Windows. How do they get loaded? There are several places where you can find out. Let's first look at your startup files. Go to Start/Run, and type Sysedit. In the resulting window you'll see many cascading Windows. In the Autoexec.bat window you might find a few lines to start a program. Or in the Win.ini file, look at the load= and run= lines. Anything in those lines after the = sign is a program to be loaded. Windows also has a startup folder where it checks every time Windows starts. If there are any programs listed, it will start them automatically. You can find the contents of the startup folder by going to Start/Programs/Startup. Didn't realize you had those items in there, did you? Then there is another not so obvious place: the Windows Registry. The registry key HKEY_LOCAL_MACHINE\Software\Microsoft\Windows\CurrentVersion\Run holds a list of programs to be loaded on Windows startup as well. You probably think how did they get in there since you didn't put them there. Some of them need to be running in the background to function properly, such as a virus scanner. They put themselves into a startup menu automatically when you install them. Others might not need to be there, but they load anyway to be available when you need them. Now that you know how to find out what programs you have running in the background and how they got there, let's talk about how to do some troubleshooting to find the culprit. Be systematic To find out which application is the conflicting one, you need to take a systematic approach. There are two ways to do this: You can shut down all other programs, make sure the conflict does not happen anymore, then turn them back on one by one, until the conflict happens again. Most likely the last program you turned on before the conflict reappeared is the culprit. The other option is to shut down one program at a time, until the conflict disappears. Most likely, the one program you just shut down is the culprit. Prevent them from loading The best approach is to make sure a possible suspect doesn't even load on startup. Windows 98 comes with a built-in utility that lets you control what loads when Windows starts. Start this utility by going to Start/Run, typing msconfig and clicking OK. You'll see a dialog with several tabs across the top. The last tab is labeled Startup. In here is a complete list of items that Windows loads automatically. Note the checkbox next to each item. Uncheck the first item, reboot, see if the conflict persists. If so, go back to msconfig, re-check that item, uncheck the next item and reboot. Repeat this procedure until you found the culprit. Shut them down There is also a way to shut down a program that runs in the background of your current Windows session which does not require a reboot. You can push Ctrl-Alt-Del to bring up the Close Program window. Now highlight the program you want to disable for now and click End Task. The Close Program window should disappear. Sometimes it can take a few seconds for the program to unload, so be patient. Other times, you might get another window informing you that the program is not responding. That window will have its own End Task button that you should push to close it for good. Repeat this

Can you keep a secret Essays

Can you keep a secret Essays Can you keep a secret Paper Can you keep a secret Paper The two plays that I have chosen to compare are Road by Jim Cartwright and Can you keep a secret by Winsome Pinnock. Road had its theatrical debut in 1986, at the Royal Court Theatre in London, and was later adapted by the BBC to a film in 1987. Can you keep a secret was written in 1993 and was one of the many successful plays written by Winsome Pinnock. Road is a play that scopes into the lives of a number of people living down the same run-down, poverty stricken road. By use of a narrator, Scullery, we are introduced to all the main characters in the road and given a brief insight to their tragic and almost pathetic lives and pastimes, which mainly revolve around drink, drugs and sex. Can you keep a secret is a play about the after affects of a racist killing, particularly on a teenage girl who has to face up to a moral dilemma, whether to tell the truth or keep quiet for her boyfriend who is the murderer. The main theme that both plays have in common is the idea of loss of identity. In Road we see the loss of identity, people not knowing why they exist, not fighting for a better life or being who they want to be or once were. Long ago I gived up the idea of making a book, and instead, now I just give em out to people for the price of a pint or chips Here we have the Professor, (not a real one) whilst he introduces himself to the audience. We can see by his tone of voice and comment about his life that he is not the ambitious type, has given up on life and just takes what is given to him in terms of luck. A lot of the characters in Road have similar attitudes. Can you keep a secret talks about identity in a slightly different way. It demonstrates what many teenagers experience when growing up and learning what to do and what not to do. Teenagers are often faced with confusion about identity, particularly their own. This play demonstrates this, with many of the characters knowing inside them that something is wrong but not having the courage to face up to it. Letting others cloud their judgement. Were like Siamese twins. If one gets hurt the others feel it. Here one of the boys, Chunky, insisting on his loyalty to Sean after he just killed Derek. This sort of attitude, when concerning something as serious as a murder is very naive but is a common problem within teenage problems. The other themes in Road include depression, dis-satisfaction with ones life and existentialism. The idea of having a negative, and almost bitter view on life and being led to believe that life doesnt get any better or worse. Fucking long life init. This phrase is repeated throughout the play by different characters at the end of their scene directly to the audience, emphasising their attitude towards life. Can you keep a secret deals with other themes such as mateship and loyalty, racism and pier pressure. The ways in which the themes and story lines are put across in each play are very different. Road, rather then using a traditional beginning, middle and end structure it uses an episodic structure to demonstrate the themes of the play rather then a story line and subplot. Each character in Road has their own story to tell and they are briefly touched on throughout the whole play by use of lengthy, personal and emotive monologues and character to character dialogue. But all I did was go down. I lost my wife, me family, half me stomach, everything The professors monologue describes his life and struggles. Can you keep a secret however has a more conventional structure, and has more dialogue between characters to tell the story compared to Road. The whole script is interaction between characters to tell the story. You do not learn as much about the characters in Can you keep a secret as you do in Road as Road is based upon deeper analysis of characters and their lives by monologues and the characters talking directly to the audience and opening up to the audience. See how easy you can slip when youre a scientist in the slums. Professor, talking about his life, almost ashamed of his experiences. In Can you keep a secret there is no interaction with the audience and the audience are distanced from the characters and story. Whereas with Road the play breaks the 4th wall and the characters get fully involved with the audience on and off stage and talk direct to the audience in character. Which allows the audience to get a deeper understanding of each character.

Crow Lake Essay Example | Topics and Well Written Essays - 500 words

Crow Lake - Essay Example This brings about another challenge, as they have to struggle in order to cater for the needs of the family. With the responsibility of taking care of the family, the two brothers and their eldest sister move to seek employment opportunities, which ideally is a tough task but since there is no alternative, they are forced to settle for any menial jobs available for them. For the two brothers, they take up jobs in the neighborhood at Pye’s family. With such background information, this paper analyses the case of Luke, the older of the two brothers currently in their late teens. Luke despite being the older son in the family, is not good academically, and with the realization of the responsibility ahead, forgoes his college education dreams to allow his brother Matt who despite being younger is better academically. Ideally, in an instance of not completing the book, it is evident that Luke would have become a greater individual in the society considering his hard work and the act of scarify he has shown. The ability of an individual to sacrifice the opportunity of a college education for a brother despite not being sharp academically requires a big heart and one that has a focus for the betterment of the future. The aspect of forgoing college by Luke for his brother Matt, who happens to be Kate, their sister’s favorite seems to cause some rift between the two brothers. Luke feels bad about the sister looking down upon him based on academic reasons despite the sacrifice Luke is able to make for the better of the whole family. Had I been in Luke’s shoes, it is very possible I would have the same feeling towards Kate. Despite the back draws that Luke has experienced in life, it is evident that his life as an old man will be one of success. Unlike his brother Matt, who despite receiving a sacrifice from his brother Luke, is still involved in misbehavior by getting involved with Pye’s daughter Maria, getting her pregnant, forcing him out of

Memo format Essay Example | Topics and Well Written Essays - 1000 words

Memo format - Essay Example The author and purpose of the video The author of this video is one Dr. Clarke John from New York. In 2009, this video won in the video PSA contest, defeating over 200 other videos. Video PSA contest was mainly concerned with the prevention of flu, and strategies that can be employed to prevent spread of flu. The purpose of this video is therefore, to enlighten people about the H1N1 virus, how it spreads, and the preventive measures that one can take to avoid infection. The audience This video does not target a specific audience, instead; it is intended for the whole public. Since the H1N1 virus affected the whole of USA, the public must be enlightened on the preventive strategies they can adopt to avoid future occurrence of the condition in the USA. Therefore, all Americans, children and adults, men and women, professionals, among others are therefore, audience of this video, since all are capable of catching H1N1 virus. What the author values, and what he appears to assume about th e audience’s values The author of this video chose to spread the word about H1N1 virus through lyrics. Specifically, he uses the music genre of rap to deliver his message. As his primary choice of message delivery, this means that the author values music, specifically rap music. The author intended this message for an audience. This therefore, shows that the author assumes that the audience too value rap music. Since this is the best way he thought his message could reach the audience, it seems he assumes that Americans love rap music, therefore, will easily receive the message. How the author establishes credibility and character The author establishes credibility and character in his video mainly through the manner he presents himself, and the ideas in his message. For instance, he dresses decently in his white lab coat. Dressing this way is decent, and brings him out as a professional in the medical field. Therefore, the audience will value the message he delivers, as they will view it as credible. Although it is a rap video, this contrasts with the mainstream rap videos in the popular culture, as in this video, the author upholds professionalism, as seen in his decent attire. Professionalism is also evident in his presentation of facts, which enhances credibility and character. He uses formal and decent language while rapping. Most rap videos use informal and sometimes indecent language. Therefore, this makes the video and message therein credible, and brings out the character of the author in a positive manner. Additionally, the end of the video was shot in the author’s office. This is a different setting, as the rest of the video part was shot at a strategic point in the streets of New York. An office environment increases the seriousness of the message and incorporates an element of professionalism in the rap clip. Credibility of the message in the video is also increased when the author lets the audience know the main source of his messag e in the video. It turns out that he got his message from a trusted government website on flu. It is more likely that the audience will trust the message and do as it says, since the information is credible, and from an individual with a credible character. How the author appeals to the audience In order to appeal to the audience, the author uses an element

Food Safety and Sanitation Course Project Essay

Food Safety and Sanitation Course Project - Essay Example Food safety and sanitation is fundamental for customers and employees. The performance of the customers will be perfect and recognizable when they are working in a favorable environment. Through the hard work of the employees, then with some measures in place it will be easy for the customers to be served with safe food (Arduser & Brown, 2005). In this project, as a health officer entitled with the power to check the safety of food and sanitation, I will base a case in Mount view restaurant in north California. This is one of the biggest restaurants not only in North California but also in US at large. There are many customers in this hotel thus, I find it necessary to have food safety, and sanitation measures in place. I will carry out an interview after which I will write a report. Preparatory Steps Before doing the interview and writing the report, I undertook some preparations that will make the latter processes to be easy. The steps that I undertook in preparation for the interv iew are: (i) Scheduling a meeting with the manager of Mount view restaurant I wrote a letter to the restaurant manager with all my contacts. It aimed at explaining to him the mission that I want to undertake in his or her restaurant. In addition, I explained the importance of the study to the manager. After compiling the letter, I send it to the following address: Mountain View Restaurant 5253 NC Hwy 226 Little Switzerland, NC 28749 United States ph: 828-766-9670. (ii) Meeting with the restaurant manager After the manager got back to me, I got his contacts and with them, I proceeded to meet him at the restaurant at the scheduled time. I introduced myself to the manager politely and he welcomed me warmly. After that, I proceeded on to undertake my role since I had been granted the authority to do so. 1.0. Interview The participants in the interview I carried out where the manager to the restaurant and the employees in the same area. My questions were mainly aimed at getting solutions to food safety and sanitation problems in the restaurant if any (Arduser & Brown, 2005). The Manager The manager was welcoming and ready to participate. I asked him to give some programs that were in place to ensure that there is food safety and sanitation in the restaurant. The manager told me that they had divided there workers into groups. There were groups who dealt with sanitation while others dealt with food safety. In food safety, he explained that they had a qualified doctor who came to check the quality of the ingredients. I also asked the manager how the environment was made favorable for food safety and sanitation. From there I walked around the restaurant accompanied by the manager. I filled the forms that I had after keenly observing what was needed. I also asked the manager the area that they were strategizing to improve (Arduser & Brown, 2005). The Employees I approached the employees in a friendly manner. I took four of them, two male and two female. I interrogated them on their health conditions. At some point, I asked them to show off their hands. They did not fail me. They also helped me to analyze the exterior. At this time, I had left the manager so that the workers could not create suspicion that could lead to wrong data. I also inquired what was supposed to be done to get food safety and

The Significance Of Sociological Work Practices

The Significance Of Sociological Work Practices This essay will examine the significance of sociology and the importance of a good understanding of the society in which we live. This essay will also provide an understanding of what sociology is, and an insight into each perspective in relation to a particular concept and some of the social problems surrounding it. It will identify how an understanding of sociology is useful in helping social workers understand, evaluate and resolve the potential problems faced by their client groups, and will assess the importance of sociology in social work practice. Sociology differs to psychology, in as much as psychology studies the individual and that individuals reactions and involvement within society. Sociology concentrates its approach on a much wider level, looking at the bigger picture. Giddens (1989:18) reports that the study of sociology offers the individual an opportunity to detach oneself from preconceived ideas about social life, however it does pose specific problems, mainly because of the complex problems involved in subjecting our own behaviour to study. It is hard to be objective which you are directly involved in, and later on in the essay, it is apparent how this has influenced, and biased some perspectives. Sociology developed as a science in the late 1700s. It was initially a way of attempting to understand the great changes happening in industry and society around that time, following a period of social and industrial revolutions throughout England and the transition from feudal England, into a more capitalist and industrialised society. Although there are many definitions of sociology, there is no clear cut definition as to what it encompasses. Macionis and Plummer (1997:4) say that the definition of sociology is the systematic study of human society, whilst The study of human social behaviour, especially the study of the origins, organization, institutions, and development of human society is the definition taken from http://dictionary.reference.com/search?q=sociology We can therefore deduce that sociology is a study of looking at things from a wider angle. So, what psychologists may view as a personal tragedy to one person, when viewed from the wider angle, can provide an insight into imbalances in the equilibrium of society. For example, C Wright Mills (taken from Macionis and Plummer) wrote famously about the Sociological Imagination, which enables the individual to reflect upon the societal impact of what can be apparently individual events, such as divorce, and unemployment. Whilst divorce is a personal tragedy for the individual, the impact of it nationally becomes a social problem, given that Britain statistically has one of the highest divorce rates in Europe. So, sociology is about learning how to look at things with more than just knowledge or common sense, it is about being able to turn situations around and examine the impact on both the individual and the surrounding society. To do this however, one must be able to identify what society actually is. What does it encompass? How many people does it take to make a society? Even if we assume that a society is, for example, a group of people with self perpetuating rules, living within a particular framework of social relationships, we still have to question to whos rules are they are adhering, and to what extent is the framework of social relationship to be extended? Classical sociologists had no problems in identifying what constitutes a society, as they assumed that society was something that could be investigated or analysed in a laboratory, such as with any other science. Classical sociology was in effect the scientific study of society. Whilst more modernist approaches such as Cree (as quoted in Cree:1997:276), have identified that todays society is a much more mosaic and fragmented society, and realises that much as we all have more than one identity, so we live and move in many different, and at times competing, societies. To enable them to study this, sociologists have identified many different perspectives on different sociological concepts. A concept is an issue that is directly related to sociology or society, and as such includes issues such as the family, crime and deviance, the community, class, status, poverty, race and youth. All these concepts have a direct impact on society and so sociologists are interested in studying them. Each concept is often intrinsically linked to the remaining ones. If we take as a simplistic example, a young black boy who has been caught stealing, he is from an impoverished background and is being brought up by his single parent mother. In this single example, a sociologist could choose to look at this case study from any or all of the above concepts. The family unit has broken down, leading the youth to commit acts of crime and deviance, possibly because the familys standard of living has deteriorated, leading to a lowering in class and status, which in turn could have led to prejudice and isolation from the surrounding community. A perspective however, is the actual viewpoint and theory which surrounds the explanation used to evaluate and identify society and social problems. For example, classical perspectives include Marxism, Interactionism, and Functionalism. In the very simplest of definitions a Marxist perspective would examine a concept with its relativity to social class, and class conflict. Interactionists would be examining the meanings and interpretations of the study matter, and would focus on the individual. A Functionalist perspective, however, would examine the purpose and needs of the social structure surrounding the concept, and would be looking at the social system and sub systems. These classical perspectives originated mainly from Western, heterosexual, middle class men, and highlight one of the many problems sociologists face, and that is distancing oneself from the matter which is being studied. The viewpoints of the classical sociologists appear to be from white, heterosexual men, FOR white, heterosexual men. These early classical attempts to study a society which is in itself a constantly changing and nebulous mass, has meant that new sociologists have had to emerge, bringing with them new, broader perspectives, and these are called contemporary sociologists. Contemporary sociologists include views of society from perspectives such as Feminism, Anti Racism, Disablism, and the Gay Rights lobby, and the perspectives from which they write are fairly self explanatory, but Feminism will be discussed in more detail further on. When examining one concept in detail, such as the family, and viewing it from each different perspective, we are provided with an insight on not only the historical background of the viewpoint from which it was written (eg Marxism and Feminism were established in very different historical episodes), but it also enables us to lay this across different aspects of working practice in social work. Therefore in order to operate in the social work profession efficiently, one needs to be able to look at the bigger picture, and put aside our own values and opinions of the family i.e. all the differing family types etc, as it is hard to be objective about something with which you have direct experience of. We have all had experience of family, and so our expectations of the family life of our client groups will ultimately be influenced by this, much in the same way as sociologists will be influenced by the society in which they are part of, To identify the family from differing perspectives, one must first reach an agreed definition as to what the family is in sociological terms, broadly speaking because if there is no agreed definitive answer as to what the family consists of, then each perspective may be constructing theories about what could fundamentally be very different social groups. As a society we have stereo-typical ideas and ideologies of what a family should consist of and these are perpetuated through the media and advertising with images of the ideal family (i.e. husband, wife, 2 children, dog), and through humour, with television programmes such as 2.4 Children, My Family etc. Macionis and Plummer (1997:438) suggest that the family has been seen as a social institution that unites individuals into co-operative groups that oversee the bearing and raising of children. Cree however, (2000:26) defines the family as a group of people bound together by blood and marriage ties, but not necessarily located in one geographical place. When providing a definition, it has to adequately address the changing nature of family life in Britain throughout the last century. For example, using statistics from Giddens (1989: 181) over 20 per cent of dependent children now live in lone parent households. In addition to the rise in lone parent households, there have also been a significant increase in the emergence of differing family compositions.. It is easy to see that family structure and composition has changed greatly over the last century, and this could be due to the way that society adapts to accommodate social problems, for example, an increased number of lone parents, gay couples and sexual relationships outside of marriage etc. These were social problems during the 1900s and earlier, and were immoral, which in the local communities at that time, could have been punishable by law, but todays society has started to adapt and accept these changes, making something which was originally perceived as deviant into a social norm, and this will lead eventually into this behaviour becoming part of the social mores of our society. It is therefore safe to say, that in order for society to be maintained it has to accept the changing threats to values and adapt around the social problems it encounters. Using statistics from Giddens (1989:176) we can see that the number of couples with dependent children has dropped significantly from 38% in 1961 to only 23% in 1998, whilst this signifies a decline in the amount of young married couples having children, it also highlights the fact that our society is also now increasing in age. This shows that the current population is likely to be comprised of adults without dependent children. In addition to this, the number of lone parents has risen dramatically from 2% in 1961 to 7% in 1998. Using figures from Macionis and Plummer (1997:447) which state that, the numbers in adoption have sharply fallen. 6,000 in England in Wales in 1994, compared with 21,000 in 1971, we can see how society has accommodated the issue of unmarried mothers. The number of one person households has also risen from 11% in 1961 to 28% in 1998, and this is probably due to the rise in divorcees having to find alternative accommodation following the breakdown of a marriag e. So, whilst we have identified what a family is, and an example of the social problems surrounding it, it is useful now to look at how each perspective views the family and its purpose and usefulness in society. Looking at the functionalist perspective, who provide the most positive view of family life, it is essential to understand that functionalists view the family as the basic social unit and the core institution of society (Jorgensen et al:1997:72) The functionalists see one of the integral familial contributions as social integration. They view the familys main function as teaching the family members how to belong within the group (ie: society) around them. This function of the family stems from the fact that functionalists believe the family exists as the primary institution in any society, for the initial socialisation of children. In this respect any institution charged with this responsibility will play a large part in producing and maintaining cultural norms and values. In addition to the socialisation function, they also believe the family plays a part in stabilising society. They believe the family reinforces values such as emotional and sexual stability, economic co-dependence etc. These regulations are an integral part of the society in which we live, and include moral boundaries, for example, such as incest. This is a purely human concept, and we are the only species which impose regulations on sexual interaction between family members. Our own society forbids the act of sexual relations between family members, but limits it to close relatives, such as those included in our extended family. In some societies however, it is permissible for siblings to marry. There are biological reasons why incest is not advised, however, the primary concerns are societal. Macionis and Plummer (1997) suggest that the reasons for this taboo are to minimise sexual competition within the family, it also forces people to marry outside of the family encouraging wider alliances to form, and it also protects kinship from falling into chaos. They suggest that as kinship defines peoples rights and obligations towards each other, forbidding reproduction between close relatives protects the family. Another relevant example of the functionalist perspective is in the institution of marriage. For example, when an individual chooses to marry, they do so within the predetermined constraints of their individual society. In Britain for example, marriage partners are chosen at will, and marriage is based on personal choice and love. But in other societies, such as the Hindu religion, the couple have often not met before the marriage, which will have been arranged by the two families involved and is considered to be a suitable union. So in this respect, the family is itself an institution in charge of maintaining the social equilibrium. Talcott Parsons called these two features of the family Primary socialization and Personality stabilization. As quoted in Giddens (2000:175) Parsons regarded the nuclear family as the unit best equipped to handle the demands of industrial society. In the conventional family one adult can work outside the home, while the second adult cares for the home and children. This has meant that Parsons view of the family is now seen as outdated, and critics have implied that the functionalist perspective reinforces the division of labour between men and women. Giddens (2000) however said this apparently sexist view could be explained primarily given the historical context in which Parsons was writing. He was writing immediately following the Second World War, which saw an immediate return of women to their traditional roles in the household, and men returning to their roles as sole breadwinners. However, I would dispute this, as upon reflection of Parsons quote, he doesnt actually specify gender, in his quote, he just reflects that one adult can work outside the home, therefore whilst he is outdated in his view that there are two parents, it could be perceived as forward thinking for being non gender specific.. The Functionalist perspective also negates the influence of other social institutions such as schools, the government etc and their important roles in the socialisation of children. This perspective does not account for the breakdown of the traditional model of the family, and the fact that more children are now being raised outside of this. There is no real mention either of the incidents of abuse and violence, of which there is strong evidence to suggest that the family is in fact a very dysfunctional place in which to raise children, and this could be due to the fact that the sociologists writing on this perspective at the time were white, middle class me and not looking outside of the society they are a part of. Moving on to the contemporary perspectives, the Feminists bring this to the forefront in their approaches to the family. The feminists believe that unequal power relationships exist within families. Not least importantly then, are the issues of domestic violence, marital rape, incest and sexual abuse. The feminist perspective does not perceive the family as a haven for love and support, but that issues such as incest and domestic violence provide a further opportunity for men to dominate and oppress women. Feminism became influential in the 1970s and 1980s and has continued to grow in strength and followers to this day. Before feminism, sociologists have been criticised for the male bias in their studies of society as a whole. From a feminists sociological viewpoint, women had previously always been viewed as appendages to men. Feminism has been concerned with the analysis of male/female relationships in terms of the relative significance of sex, class and patriarchy ie; Male headed dominance There are several different views within the feminist perspective, with as Lena Dominelli writes a plurality of views, liberal, radical, socialist, anti-racist and post-modernist which can be held by both black and white feminists; for example, white radical feminism, black socialist feminism (1997:97) Neil Thompson (1993:53) writes that whilst there is no such thing as uniformed and consistent feminism, there are common themes and points of argument, they all share a focus on the critique of patriarchy and the need to establish a fairer society in which women are no longer marginalised, alienated and pushed into secondary roles. It also does not account for the fact that when women come out of the home, and enter the employment arena they are still being discriminated against, with low pay, maternity issues etc, which is perpetuating social problems. Marxist feminism portrays the womans role in the family environment to that of the Proletariat, or exploited class, and the mans role as that of the Bourgeoisie or exploiter. Seen from the Marxist feminist viewpoint, the woman is the loser in the inequal marriage partnership. Marxist feminists believe that marriage is perpetuating the capitalist industry by prostituting the domestic services of the woman in return for financial security. What this means essentially is that by staying at home and looking after the children in an unpaid capacity, the woman is not only helping the man to work in the capitalist industry, but providing heirs to perpetuate the class division further. Thus, patriarchy is not simply a matter of biological difference, but is directly related to the economic base and the emphasis on comparing the womans role in the family to the exploitation of the capitalist class over the working class. According to Thompson(1993:56) this is one of the main weaknesses in the theory, as it does not explain how there is still continuation of male dominance in the non-capitalist societies Liberal feminism has been evident since the early eighteenth century, and its main objective was to make it illegal to discriminate against, or use unequal treatment for women, and it was largely based on notions of free choice, empowering women to take control of their own lives. Liberal feminism is primarily concerned with issues of overt discrimination against women in all areas of social life, in particular, work education and the portrayal of women in the media, as well as arguing for legal protection and social rights. It argues that women are not inferior to men and should be allowed to compete equally in all aspects of life, especially education and work. It has been successful so far in using its main weapon (the legal system) in outlawing discriminatory behaviour towards women, and in establishing legislation to protect female workers in the UK and USA, such as equal pay etc. The main criticism of this perspective is that the women involved in the writing were middle class women, therefore the changes implemented were benefiting middle class women. I understand that sociology can assist the social work practitioner in assessing situations from the wider picture and drawing on relevant perspectives in their own merit to help the client group involved in reaching a suitable resolution. I therefore believe that an understanding of sociology can help social workers to develop a mind set which will provide the foundations for the commencement of good practice skills. I think that society modifies itself to accommodate social problems and that sociology itself has adapted to identify these, therefore, as sociology helps us to identify what the social problems are, it can help social workers to help the society in which they work. TOTAL WORD COUNT = 3282

Absurdity and Satire in The Importance of Being Earnest Essay -- Impor

Absurdity and Satire in The Importance of Being Earnest In Oscar Wilde's The Importance of Being Earnest, much is made of societal expectations, protocols, as well as the inversions of these expectations. A character, Jack Worthing, adopts an alter ego when going into town to avoid keeping up with the serious and morally upright behaviour that is expected of him as guardian to his eighteen-year-old ward, Cecily. Another character, Algernon Moncrieff, makes up an invalid friend Bunbury whose grave health conditions provide him with the excuse to escape to the country as and when he pleases. Both Jack and Algernon are admired by two young ladies who erroneously believe the men's names to be Ernest, and who adore the men for this very reason. In relating the story of mix-ups and mistaken identities, the ideals and manners of the Victorian society are satirized in a comedy where the characters "treat all the trivial things of life seriously and all the serious things of life with sincere and studied triviality" (Wilde back cover), in the word s of the author himself. Act 1 JACK. [Nervously.] Miss Fairfax, ever since I met you I have admired you more than any girl . . . I have ever met since . . . I met you. GWENDOLEN. Yes, I am quite well aware of the fact. And I often wish that in public, at any rate, you had been more demonstrative. For me you have always had an irresistible fascination. Even before I met you I was far from indifferent to you. [JACK looks at her in amazement.] We live, as I hope you know, Mr Worthing, in an age of ideals. The fact is constantly mentioned in the more expensive monthly magazines, and has reached the provincial pulpits, I am told; and my ideal has always been to love some one of the nam... ... play is "to ridicule the vicious and the foolish" and "to expose the reigning Follies in such a manner, that men shall laugh themselves out of them before they feel they are touch'd" (qtd Rose 81). Indeed, it is precisely through the use of such absurdity that The Importance of Being Earnest successfully pokes fun at the audience without them getting offended, since the sting of the criticism is cushioned by the detachment that the viewers feel from such ludicrousness in the play. Works Cited Abrams, M. H. A Glossary of Literary Terms. 7th ed. Boston: Heinle & Heinle. Montgomery, Martin et. al. "Irony." Ways of Reading. Advanced Reading Skills for Students of English Literature. London: Routledge, 2000. Rose, Margaret. Parody: Ancient, Modern, and Post-Modern. Cambridge: CUP, 1993. Wilde, Oscar. The Importance of Being Earnest. London: Penguin, 1994.