Advanced corporate finance Essay Example | Topics and Well Written Essays - 1250 words

Advanced corporate finance - Essay ExampleIn much(prenominal) scenarios, three forms of remunerations can be noteworthy. The first among these is the share based compensation model that helps the managers as well as the employees to serve for better growth in the share pieces of a company, without affecting the cash reserves and therefore, ensuring financial stability. Nevertheless, the management whitethorn be concerned about the fact that potential hostile bidders may bid for the company in case it maintains a lower share price, whilst increase price is certain to prohibit such take-overs. It is also likely that the short shareholders may create pressure for achieving the returns that lead create a potential damage for the company through the reduction of its intrinsic value. Majority of the times managers harbour to face pressure from the top-level management as well. Notably, as the shareholders always seek for a high dividend from the company, in order to retain these invest ors as well as increase their numbers, managers often get lured to deliver constantly increasing profit margin that in turn tends to facilitate returns, which may benefit the shareholders but will create potential damage to the company in long run. It is thus that a manager may unintentionally harm the company by increasing the dividends irrespective of insufficient cash reserves or increase in the leverages. Managers loyalty and satisfaction from the company, indicating his/her intention to be a detonate of the entity, also play vital roles influencing their strategic intents to increase current share prices.From debt-holders, shareholders can expropriate wealth in various forms, which mainly include underinvestment, plus substitution and shortsighted investment among others. For example, underinvestment can take place if the Net Present Value (NPV) is lesser than the debt to be borne by the investors. Assuming that two economies name equal rate of yield earned from

Mergers and acquisition Essay Example | Topics and Well Written Essays - 2000 words

Mergers and acquisition - Essay ExampleSuch companies resort to such strategy for companies to have powers oer suppliers, buyers or competitors, to benefit from experience curve effects and to reduce unit costs, to turn around opportunities as in the case of Morrisons and Safeway, as a response to turbulence, technological or regulatory and as sometimes as response to acquisitions by competitors.Reality however has a different way of clear what managers and chief executive officers believe about the prospects of merger or acquisition. It is found through surveys that not all mergers deliver the value added that is expected. This is confirmed by www.olin.wustl.edu/ denudation/feature in its article on Making Mergers Work. Olin crop of Business (n.d.) said that whether judged by the growth of shareholder value or by the tonic companys performance within its industry, the results of mergers and acquisitions have been disappointing. It the suggested to consider the AOL-Time Warner mis match and the fiasco at WorldCom, a company that failed to integrate its many acquisitions. It further mentioned a 1999 study published in the Harvard Business Review, which found that only 21 percent of acquisitions in several industries could be viewed as clear successes. Olin School of short letter (n.d.) telling every body that in other words, nearly 80 percent of those acquisitions were either disappointing or clear failures. It then asked the question How washstand such a commonly practiced, promising business strategy so often end in disaster?The Harvard Business Review survey, according to Olin School of Business (n.d.) from CFOs surveys conducted from the Forbes 50 revealed the top 10 roadblocks to achieving synergies from their answers as followsThe Olin School of Business (n.d.) then mentioned that The Society for Human Resource Management (SHRM) Foundation was intrigued

THE MASS MEDIA Essay Example | Topics and Well Written Essays - 1000 words

THE MASS MEDIA - Essay ExampleCreative enterprises, those engaged in the commercial exploitation of intellectual property-based goods and services imbued with symbolic meaning (i.e., books, film, music), contribute significantly to the economic, social and cultural development of nations. These enterprises motley complex networks in content- use upn sectors, which in turn make up the creative industries. Their unique characteristics (i.e., original symbolic products) drive and sustain diverse cultural and customary traditions, and enhance social values. At the same time, they generate wealth, increase employment opportunities, and promote trade. Yet, their true value and strength are often underestimated and insufficiently analyzed.Graphic design is a specific area of the creative industries. Graphic design can be defined as, the device or profession of visual communication that combines images, words, and ideas to convey information to an audience. A graphic designer is responsi ble for arranging and using elements on different types of media (such as a poster, a package or a website), most likely with the use of a graphics software program such as adobe brick Illustrator, Photoshop or InDesign. These elements include photos, illustrations, type, shapes, color, and texture (Miller, 2008, pg. 1).Examples of graphic design can be found all around the world. They are most often seen in the form of advertisements, billboards, books, brochures, business cards, greeting cards, logos, magazines, newspapers, packaging, posters, signs, websites, and much more (Miller, 2008).Trends and technical advancements in the creative industries, specifically the field of graphic design, have brought along both advantages and disadvantages. One of the biggest advantages to technological advancements in the field is the fact that graphic art can now be displayed on the Internet. This provides a means for it to be viewed-and purchased-all throughout the world. Artists can hit o nline portfolios that can be seen by anyone with Internet access. Images can also be sent in a split second. Gone are the days when graphical art must be printed out and physically distributed in order to be seen.Trends and technological advances in the field also have their disadvantages. One of the biggest disadvantages is that, collectable to the fact that virtually anyone can view images that are placed on the Internet, there is the potential for those individuals to steal the work of an artist and claim it as their take in or use it illegally. Furthermore, that scenario is really easy for a person to do. Anyone with basic computer skills can copy or download an image that has not had rampart against such acts put into place by the creator or his or her representative.Thankfully, there are ways that individuals can protect their graphical art designs. hoi polloi in the United States are protected by intellectual property rights. According to DT & GPeople are often confused a bout Patents, Trademarks and Copyrights. This amazement may result in a failure to consider the importance of these tools in business development. Yet, these intellectual property rights become more and more fundamental as businesses move into high technology areas. Intellectual proper

Gun Control Essay Example for Free

blast Control seek eristical Essay against sub Control Since 1980, forty-four states have passed laws allowing gun owners to take up concealed weapons outside their homes for personal protection. (Five additional states had these laws before 1980. Illinois is the sole holdout. ) A federal ban on the possession, tran Premium756 Words4 Pages Gun Control Essay Gun govern is among the most hotly debated of topics today.With the federal government currently discussing whether to initiate stronger and more strict laws for owning guns, the number of gun control essays has risen, which makes perfect sense since the topic is dulcet on peoples minds with rec Premium404 Words2 Pages Gun Control Dan Nenninger Essay 1 Gun Control According to the Coalition for Gun Control, last year a total of 291 people were killed by handguns in Australia, Sweden, Great Britain, Japan, and Switzerland. In the United States more than 24,000 people will be killed by the end of this year. So what is Pre mium795 Words4 Pages Gun Control Persuasive Essay on Gun Control What would be going through your mind if you were in a restaurant and a gaga man came in and began slaughtering people right and left including you family (Swasey 174)? Would you be thinking if they would ban guns this would have never happened? Probably not What you Premium354 Words2 Pages Gun Control and Gun Violence Among ChildrenNAME Clara Lawson COURSEPHI 105 Critical Thinking Problem Solving DATE January 12, 2012 INSTRUCTOR DR. Scott Hovater GUN CONTROL GUN VIOLENCE in CHILDREN To start my essay off, I have an unusual story that is true. My mom knew a girl when she was lit Premium945 Words4 Pages Gun Control Working Outline for the Argumentative Paper Topic Gun Control Topic Question Does the U. S. lack more gun control laws? Introductory Paragraph * What do I need to say to set up my thesis?(Do you need background information? Definitions? Explanations? ) * Thesis Statement So many citi Premium483 Words2 Pag es Gun Control Argumentative Essay (Against) Gun Control Argumentative Essay All guns have the potential to be dangerous and should be dealt with precaution. Guns have been a part of American archives for as long as people can remember. For most individuals guns are supposed to be very dangerous and unsafe. Though, that is not true. Guns can b Premium284 Words2 Pages

Print versus Online Journalism Essay Example for Free

Print versus Online Journalism EssayIn almost any part of the world, the journalists are the people who deliver to us the daily sensitives, significant events, updates, celebrity scoops, and other(a) bits of information. Traditionally, journalists obtain their news through extensive research, interviews, and leg work among others. After hours, days, or even weeks of research, journalists then bring through and craft their pieces which eventually land on the front page of the newspapers. This sequence of actions is called print journalism. However, due to the rise of technology, people are now able to liberate stories and articles on the internet. Life stories, opinions, and other information can be aired and accessed by people through websites such as blog sites and social networking sites, among others. This new form of posting information resulted in what is now known as online journalism. Print and online journalism are both similar and different from each other in a lo t of ways. There basic point of similarity is that they both contain information that is accessible by the public. This information may let in daily news stories, sports updates, business news, health news. However, the main deviance between the two is that in print journalism, these stories are published in broadsheet newspapers, magazines, and tabloids, among others, go in online journalism, the news and other information is basically published solely in websites. Usually, the information given by both forms of journalism may be accessed through subscriptions. However, certain newspapers, such as the New York Times, can be accessed online for free. Moreover, compared to print journalism, online information is easily accessed. People simply have to connect to the Internet and view the web page that contains their desired information. On the other hand, printed information in the newspapers and magazines are bought in stores and magazine stands. However, possibly the most importan t difference between the two is how journalism is practiced. The practice of conventional journalism, without a doubt, requires critical analysis, logical thinking, mastery or knowledge of grammar, and most of all, commitment to the truth. This is usually the character reference with people who are involved in print journalism, most especially, the ones writing for established and highly credible newspapers. On the other hand, in online journalism, except maybe for the websites of major dailies, most websites are non edited and proofread properly which results in erroneous or inaccurate information and grammatically incorrect sentences or phrases. In short, the most important and most notable difference between the two is that online journalism lacks that true essence journalism per se as compared to print journalism where people know and have possibly mastered the fundamentals such as grammar, style, and logical construction. Moreover, a majority of people involved in online jou rnalism are not actually journalists by profession. These so-called online journalists may not have undergone proper training so technically they do not have the authority and capability that print journalists have. Over-all, it can be said that online journalism is not journalism at all and is only a enclosure that spawned from the boom of technology as compared to print journalism which follows traditional practices of journalism.

Corporate Restructuring Strategies Business Essay

Corporate Restructuring Strategies Business EssayCorporate restructuring is the work at of redesigning mavin or more aspects of a attach to. The process of reorganizing a conjunction may be implemented due to a number of different factors, such as positioning the c eacher-out to be more matched, survive a currently adverse stinting climate, or poise the tidy sum to move in an only when unsanded direction. Here be some examples of why embodied restructuring may take place and what it do-nothing mean for the troupe.In general, the idea of corporate restructuring is to let the company to continue functioning in some manner. Even when corporate raiders break up the company and leave behind a shell of the pilot film bodily structure, there is still usually a hope, what remains can function well enough for a new barter forer to purchase the diminished corporation and return it to profitability.Purpose of Corporate Restructuring To enhance the look at holder value, The compa ny should continuously evaluate itsPortfolio of businesses,Capital mix,Ownership Asset arrangements to fancy opportunities to increase the share holders value.To focus on asset utilization and profitable investment opportunities.To reorganize or divest less profitable or loss making businesses/products.The company can too enhance value through capital Restructuring, it can innovate securities that help to reduce hail of capital.Corporate Restructuring entails a range of activities including pecuniary restructuring and organization restructuring.1. Financial RestructuringFinancial restructuring is the reorganization of the fiscal assets and liabilities of a corporation in order to create the most beneficial financial environment for the company. The process of financial restructuring is often associated with corporate restructuring, in that restructuring the general function and composition of the company is likely to impact the financial health of the corporation. When complete d, this reordering of corporate assets and liabilities can help the company to remain competitive, even in a depressed economy.Just ab by every business goes through a phase of financial restructuring at one time or another. In some cases, the process of restructuring takes place as a means of allocating resources for a new marketing stir or the launch of a new product line. When this happens, the restructure is often viewed as a sign that the company is financially stable and has set goals for succeeding(a) growth and expansion.Need For Financial RestructuringThe process of financial restructuring may be undertaken as a means of eliminating waste from the operations of the company.For example, the restructuring effort may find that two divisions or departments of the company perform related functions and in some cases duplicate efforts. Rather than continue to use financial resources to fund the operation of both departments, their efforts are combined. This helps to reduce costs without impairing the ability of the company to still achieve the same ends in a timely mannerIn some cases, financial restructuring is a strategy that must take place in order for the company to continue operations. This is especially true when sales decline and the corporation no longer generates a consistent net profit. A financial restructuring may include a review of the costs associated with distributively sector of the business and tell ways to cut costs and increase the net profit. The restructuring may also call for the reduction or suspension of production facilities that are obsolete or currently produce goods that are not change well and are scheduled to be phased out.Financial restructuring also take place in resolution to a drop in sales, due to a sluggish economy or temporary concerns about the economy in general. When this happens, the corporation may claim to reorder finances as a means of keeping the company operational through this rough time. Costs may be c ut by combining divisions or departments, reassigning responsibilities and eliminating personnel, or scaling back production at diverse facilities owned by the company. With this type of corporate restructuring, the focus is on extract in a difficult market rather than on expanding the company to meet growing consumer demand.All businesses must even out attention to matters of finance in order to remain operational and to also hopefully grow over time. From this perspective, financial restructuring can be seen as a tool that can understand the corporation is making the most efficient use of available resources and thus generating the highest amount of net profit possible within the current set economic environment.2. Organizational RestructuringIn organizational restructuring, the focus is on steering and internal corporate governance structures. Organizational restructuring has become a very common workout amongst the debaucheds in order to match the growing competition of the market. This makes the buckrams to change the organizational structure of the company for the betterment of the business.Need For Organization RestructuringNew skills and capabilities are needed to meet current or expected operational requirements.Accountability for results are not clearly communicated and measurable resulting in subjective and biased performance appraisals. move of the organization are significantly over or under staffed.Organizational communications are inconsistent, fragmented, and inefficient.Technology and/or innovation are creating changes in work flow and production processes.Significant staffing increases or decreases are contemplated.Personnel retention and turnover is a significant problem.Workforce productivity is stagnant or deteriorating.Morale is deteriorating. many of the most common features of organizational restructures areRe assemblageing of business This involves the firms regrouping their alive business into fewer business units. The foc ussing then handles theses lesser number of compact and strategical business units in an easier and better way that ensures the business to earn profit.Downsizing Often companies may need to retrench the surplus manpower of the business. For that purpose pass voluntary retirement schemes (VRS) is the most useful tool taken by the firms for downsizing the businesss workforce.Decentralization In order to enhance the organizational response to the developments in dynamic environment, the firms go for decentralization. This involves reducing the layers of management in the business so that the people at lower hierarchy are benefited.Outsourcing Outsourcing is another measure of organizational restructuring that reduces the manpower and transfers the fixed costs of the company to variable costs.Enterprise Resource Planning Enterprise resource planning is an integrated management information frame that is enterprise-wide and computer-base. This management system enables the business ma nagement to understand any situation in faster and better way. The advancement of the information technology enhances the planning of a business.Business Process Engineering It involves redesigning the business process so that the business maximizes the operation and value added content of the business while minimizing everything else.Total Quality management The businesses now have started to realize that an outside certification for the quality of the product helps to get a good will in the market. Quality usefulness is also necessary to improve the customer service and reduce the cost of the business.VARIOUS STRATEGIES FOR BUSINESS RESTRUCTURINGSmart sizing It is the process of reducing the size of a company by laying withdraw employees on the basis of incompetence and inefficiency.Some ExamplesAcquisitions HLL took over TOMCO.Diversification Videocon group is diversified into power projects, oil exploration and primary telecom services.Merger Asea and Brown Boveri came toget her to form ABB.Strategic alliances southward India has got a Strategic alliance with Bharati Telecom for marketing of its EPABX.Expansion Siemens is expanding its medical electronics division- a new factory for medical electronics is already come up in Goa.Networking It refers to the process of breaking companies into smaller independant business units for significant improvement in productivity and flexibility. The phenomenon is predominant in South Korea, where big companies like Samsung, Hyundai and Daewoo are breaking themselves up into smaller units. These firms convert their managers into entrepreneurs.Virtual Corporation It is a company that has taken steps to turn itself inside out. Rather than having managers and staff sitting INSIDE in their offices moving papers from in basket to out basket, a virtual corporation kicks the employees outside, sending them to work in customers offices and plants, determining what the customer needs and wants, then reshaping the corporate products and services to the customers exact needs. This is a futurist concept wherein companies will be edgeless, adaptable and perpetually changing. The centrepiece of the business revolution is a new kind of product called a Virtual ware Some of the these products already exist, camcorders create instant movies, personal computers and laser printers have made instant desktop publishing a reality. And for all these we can win gold instantly at ATMs.Verticalization It refers to regrouping of management functions for particular functions for a particular product range to achieve higher accountability and transparency. Siemens in 1990 move from a function-oriented structure to a vertical entrepreneur-oriented structure embracing size business and three support divisions.Delayering- Flat organization In the post creative activity war period the demand for goods was ever increasing. Main objective of the corporations was production and capacity build up to meet the demand. The cla ssical, pyramidal structure was well worthy to this high growth environment. This structure was scalable and the corporations could immediately translate their growth plans into action by adding workers at the bottom layer and filling in the management layers. But the price paid in the whole process was much higher. The overall process became complicated number of middle managers and functional managers grew making the coordination of various functions complex. Senior/top management was alienated from the front-line people as well as the end users of the product or sen/ice. Decision-making became slower. Hence, a need is felt to round off the unproductive, bulky and sluggish network of white-collar staff. A powerful strategy would be to remove the layers of senior and middle management i.e. making the organization structure flat.The perspective of organizational restructuring may be different for the employees. When a company goes for the organizational restructuring, it often lea ds to reducing the manpower and hence meaning that people are losing their jobs. This may decrease the morale of employee in a large manner. Hence many firms provide strategies on career passinging and outplacement support to their existing employees for an easy transition to their next job.The important methods of Corporate Restructuring areJoint venturesSell off and spin offDivestituresEquity carve outLeveraged buy outs (LBO)Management buy outs1. Joint VenturesJoint ventures are new enterprises owned by two or more participants. They are typically formed for special purposes for a extra duration. It is a combination of subsets of assets contributed by two (or more) business entities for a specific business purpose and a limited duration. Each of the venture partners continues to exist as a separate firm, and the joint venture represents a new business enterprise. It is a contract to work together for a period of time each participant expects to gain from the activity but also mus t make a contribution.For ExampleGM-Toyota JV GM hoped to gain new experience in the management techniques of the Japanese in building high-quality, low-cost compact subcompact cars. Whereas, Toyota was seeking to learn from the management traditions that had made GE the no. 1 automobile producer in the world and In addition to learn how to operate an auto company in the environment under the conditions in the US, dealing with contractors, suppliers, and workers.DCM group and Daewoo motors entered in to JV to form DCM DAEWOO Ltd. to manufacture automobiles in India.2. Spin-offSpinoffs are a way to get rid of underperforming or non-core business divisions that can brush down salary.Process of spin-offThe company decides to spin off a business division.The parent company files the necessary paperwork with the Securities and Exchange Board of India (SEBI).The spinoff becomes a company of its own and must also file paperwork with the SEBI.Shares in the new company are distributed to parent company shareholders.The spinoff company goes public.Notice that the spinoff shares are distributed to the parent company shareholders. There are two reasons why this creates valueParent company shareholders rarely want anything to do with the new spinoff. After all, its an underperforming division that was cut off to improve the bottom line. As a result, many new shareholders sell immediately afterwards the new company goes public.Large institutions are often command to hold shares in spinoffs due to the smaller market capitalization, increased risk, or poor financials of the new company. Therefore, many large institutions automatically sell their shares immediately after the new company goes public.There is no money consummation in spin-off. The transaction is treated as stock dividend tax free exchange.Split-offIs a transaction in which some, but not all, parent company shareholders receive shares in a subsidiary, in return for relinquishing their parent companys shar e. In other spoken language some parent company shareholders receive the subsidiarys shares in return for which they must give up their parent company sharesFeature of split-offs is that a portion of existing shareholders receives stock in a subsidiary in exchange for parent company stock.Split-upIs a transaction in which a company spins off all of its subsidiaries to its shareholders ceases to exist.The entire firm is broken up in a series of spin-offs.The parent no longer exists andOnly the new offspring survive.In a split-up, a company is split up into two or more independent companies. As a sequel, the parent company disappears as a corporate entity and in its place two or more separate companies emerge.3. DivesturesDivesture is a transaction through which a firm sells a portion of its assets or a division to another company. It involves selling some of the assets or division for cash or securities to a third party which is an outsider.Divestiture is a form of contraction for the selling company. means of expansion for the purchasing company. It represents the sale of a segment of a company (assets, a product line, a subsidiary) to a third party for cash and or securities.Mergers, assets purchase and takeovers lead to expansion in some way or the other. They are based on the principle of synergy which says 2 + 2 = 5 , divestiture on the other hand is based on the principle of anergy which says 5 3 = 3.Among the various methods of divestiture, the most important ones are overtone sell-off, demerger (spin-off split off) and equity carve out. Some scholars define divestiture rather narrowly as partial sell off and some scholars define divestiture more generally to include partial sell offs, demergers and so on.MotivesChange of focus or corporate strategyUnit unprofitable can mistakeSale to pay off leveraged financeAntitrustNeed cashDefend against takeoverGood price.4. Equity Carve-OutA transaction in which a parent firm offers some of a subsidiaries com mon stock to the general public, to cultivate in a cash infusion to the parent without loss of control.In other spoken language equity carve outs are those in which some of a subsidiaries shares are offered for a sale to the general public, bringing an infusion of cash to the parent firm without loss of control. Equity carve out is also a means of reducing their exposure to a riskier line of business and to boost shareholders value.5. Leveraged BuyoutA buyout is a transaction in which a person, group of people, or organization buys a company or a controlling share in the stock of a company. Buyouts great and small occur all over the world on a daily basis.Buyouts can also be negotiated with people or companies on the outside. For example, a large candy company might buy out smaller candy companies with the goal of cornering the market more effectively and purchasing new brands which it can use to increase its customer base. Likewise, a company which makes widgets might decide to b uy a company which makes thingamabobs in order to expand its operations, employ an establishing company as a base rather than trying to start from scratch.6. Management buyoutIn this case, management of the company buys the company, and they may be joined by employees in the venture. This practice is sometimes questioned because management can have unfair advantages in negotiations, and could potentially manipulate the value of the company in order to bring down the purchase price for themselves. On the other hand, for employees and management, the possibility of being able to buy out their employers in the prox may serve as an incentive to make the company strong.It occurs when a companys managers buy or acquire a large part of the company. The goal of an MBO may be to strengthen the managers care in the success of the company.Purpose of Management buyoutsFrom management point of view may beTo save their jobs, either if the business has been scheduled for closure or if an outsid e purchaser would bring in its own management team.To maximize the financial benefits they receive from the success they bring to the company by taking the profits for themselves.To ward off aggressive buyers.The goal of an MBO may be to strengthen the managers interest in the success of the company. Key considerations in MBO are fairness to shareholders price, the future business plan, and legal and tax issues.Benefits of Management buyoutsIt provides an excellent opportunity for management of undervalued cos to realize the intrinsic value of the company.Lower agency cost cost associated with conflict of interest between owners and managers.Source of tax savings since interest payments are tax deductible, pushing up gearing rations to fund a management buyout can provide large tax covers.ConclusionRestructuring strategies encompasses enhancing economy and improving efficiency. When a company wants to grow or survive in a competitive environment, it needs to restructure itself and f ocus on its competitive advantage. Thus, the merger and acquisition strategies have been conceived to improve general economic well-being of all those who are, directly or indirectly, connected with the corporate sector. The intension of buy back is visualized as to support share value during periods of temporary weakness, survival and to prevent takeover bids.

The Origins Of Theatre And Playwrights English Literature Essay

The Origins Of Theatre And Playwrights English Literature EssayThis essay cultivates to discuss the effectiveness of political theatre in ca subroutine social change, looking specifically at the practice of the contemporary political playwright Augusto Boal including the influence of social theorist Karl Marx on Boals work and how Marxism affected Boals bearing of theatre. This essay will begin by looking at the origins of theatre and how it has been used since thence as a medium of promoting political thought. However, in fix up to understand political theatre we must first be able to understand what is mean by politics, the Oxford Reference Dictionary (1991647) describes something political as modify the State or its Government of public personal business. From this definition we be able to deduce that political theatre is theatre that is produced in narrate to affect or influence the community and those in power with regard to public affairs. This type of theatre has be en used and enjoyed since the very beginning of theatre as we know it today, which began in Ancient Greece in the celebration of the festival of Dionysos, the God of ecstasy. The festival included prayer and procession as well as singing and dancing, there may also have been groups of per mannikiners who would answer each other through the medium of song or dance. It is believed that it was Thespis who stood out and performed first without the chorus, and thus creating what we understand to be a protagonist. (GREEK THEATRE 1) Competitions then began to take place during the festivals in which playwrights would enter their plays to be performed, either a tragedy, or a comedy and satyr play. The Greek playwrights would symbolize the audience with ideas to think about and reflect over during the plays a Parabasis, or stepping aside would take place, this was an opportunity for the playwright to comment upon the state of city affairs or anything else that he so wished. Ari retainhanes thought that, the dramatist should not only offer pleasure besides should, besides that, be a teacher of worship and a political advisor.(in Boal 2008xiii) In his plays, Aristophanes would satirise the roughly important masses of the day, in between the scenes the chorus would perform short, satirical pieces of song and dance invariably attacking well known individuals by name, for example he ridiculed the demagogue Kleon in his play Babylonians. However, a plays success depended on the funding from the wealthy magnanimousness ay the time, the choragus therefore the plays produced may be seen to reflect the view of the choregus rather than that of the playwright, because without them a play would not have the funding to be performed. Greek society was overmuch controlled by the sparing minority, the Bourgeoisie, but nothing was done to change this. This state of affairs in Ancient Greece is very similar to the social military position that Karl Marx was flake against when he introduced his communist manifesto the alternative to capitalism. Marx believed that human organisms have been conditioned throughout history to behave a certain way by economic institutions and that in order for an equal society without a social hierarchy then the proletariat must seize power from the bourgeoisie through a social revolution and place everything in collective ownership.In his book Theatre of the Oppressed Augusto Boal writes how Marx believed that art is a key way of offering knowledge, but this knowledge is conveyed from the perspective of the mechanic, social surroundings or whoever provides sponsorship or payment. Mainly, it is the part of society that maintains economic power that holds control over any means of communication. Bordwell and Thompson (in Woodson, no date) back this upEach art form is controlled, not by the artists, but by larger social institutions. In a capitalist society, an artist may believe he or she is using the art form for personal ex pression, but he or she is actually producing merchandise of a variety show acceptable to the society.It is only from the arrival of Karl Marx and his theories on socialism that playwrights and practitioners have begun to use theatre as a means for change. Bertolt Brecht was greatly influenced by the Marxist possible action because he too wanted to create change, the major goal of the historical avant-garde was to challenge the institution of bourgeois art (Kistenberg 199529) Pescator described Brechts work as a Marxist-based analysis of social relations. Brecht agreed with Marx that it was the capitalists that created the bourgeois society, and that drama can be used as a medium of didacticism. It was from this belief that Brecht adopted Piscators form of avant-garde theatre known as epic poem theatre. Epic theatre has many parallels with Cartesian tradition in which batch are encouraged into perspicacious thought it underlines the socio-political content of drama rather than trying to manipulate the emotions of the audience. Brecht stated that there must be a transformation of psychological conflict into historic condition (in Basuki no date) in theatre in order to release the self and to create rational thought. This Cartesian belief is needed so that neither the audience nor the actor tries to empathise with the action and characters on stage and are able to view the action with a critical mind. In order to do this Brecht proposed that theatre needed to give to the audience a process of alienation because alienation is necessary to all understanding (Brecht in Basuki no date) so that they are able to form an opinion unfettered by empathy. The term Brecht used to describe this distancing of the audience is Verfremdungseffekt, which when translated, means alienation. In a description about epic theatre Brecht gives an explanation about the difference between a spectator watching hammy theatre and one watching epic theatreThe dramatic theatres spectator says Yes, I have felt like that too-Just like me-Its only natural-Itll never change-The suffering of this man breachs me, because they are inescapable-Thats great art it all seems the most obvious thing in the world-I weep when they weep, I laugh when they laugh.The epic theatres spectator says Id never have thought it-thats not the way-Thats extraordinary, hardly believable-Its got to stop-The sufferings of this man appal me, because they are unnecessary-Thats great art nothing obvious in it-I laugh when they weep, I weep when they laugh (Brecht in Basuki no date)This quote from Brecht shows us how he intended epic theatre to work and its popularity among playwrights and directors is a great example of how successful epic theatre is as a form of didacticism. However, in Brechts plays the detachment between the stage and the audience is still present. The spectator is persuaded to think the thoughts and opinions that presented to them through the action on stage because it is the playwrights who condemns the characters or the events that have taken place the audiences thoughts are merely pointed in the right direction by the dramatist (OPPRESSED xx) Augusto Boal, though highly influenced by the likes of Marx and Brecht took the format of epic theatre to a new level. He found ways of combining Marxist theory with new ways of writing and analysis. He believed that in order to liberate the audience from the constraints of stage and spectator, they themselves must be part of what is happening on stage To transform is to be transformed.(Boal 2008xxi) and thus fair spect-actors. From this belief Boal created the Theatre of the Oppressed in which the audience are asked to intercede, and nominate the next course of action for the actors to perform or actually perform themselves, whilst the actors assist and persuade the audience to take the role of a spect-actor. For example, in forum theatre, the actors perform a short play with which ends with unresolved oppre ssion and then it is performed again but this time the spect-actor is able to become involved and suggest ways to fix the oppression. Boal saw the spectators invasion of the stage as a symbolic moment in their transformation, This invasion is a symbolic obtrude. It symbolises all the acts of trespass we have to commit in order to free ourselves from what oppresses us. (Boal 2008xxi) By doing this the spect-actor is made aware of what he needs to do in order to change the situation in his real social setting, and by breaking down the wall between spectator and actor, Boal also breaks the wall between the oppressor and the oppressed. (BOAL ESSAY)English Theatre accompany Cardboard citizens is one of the leading producers of Forum Theatre in the UK, this company is made up of homeless people or those at risk of becoming homeless. Cardboard Citizens tour the UK, performing for other Homeless people, and as it states on their website, aiming to problem-solve together. (CARDBOARD WEBSIT E) Although this is an excellent way of trying to create social change, it may be the cause that the company perform to an audience who are already aware of the situation being presented to them, and are therefore preaching to the converted. In The Transparent Closet light Theatre for Straight Audiences, Richard Hall (in Kistenberg 199576) suggestsTheatre is inefficient as an instrument for social change. It either speaks to those already in support of its views, or to those who are so secure in their power that they dont mind hearing themselves abused, as long as the abuse is socialise.Although theatre is an excellent form of communication, it is unable to access the split of society in which people do not watch theatre that is seen to be anything other than mainstream entertainment i.e. Musicals etc. This then stops the theatre from being its most effective. As well as this, political theatre may become an outlet for people to confirm their opinions, for example, David Hares p lay Stuff Happens was written as a reaction to the Iraq War, somebody who has negative beliefs about this event may watch the play just so their opinions are confirmed. This again may stop the theatre from being at its most effective. Although Cardboard Citizens use of forum theatre has helped many homeless peoples situations and is working to gain understanding of the struggles homeless people encounter, Elizabeth Burns states that the audience view themselves as part of a performance rather than performance as part of their lives (in Kistenberg 199532) She believes that the audience are merely hold up for the actors and that because they are in a state of being neither fully part of the performance nor full separate then it isnt much different from their ordinary role as spectator. If this is the case then the spectators of Cardboard Citizens performances, even if they were able to present their theatre to a much wider and varied kind of audience, would not be much changed by wh at they have seen.Boals next step in creating social change could be seen to have a great impact on society, he generated a form of theatre named Legislative Theatre in which theatre is used to create an active and practical change in society.Boal ran for election and was voted in to be one of 42 vereadoresof Rio, (BOAL ESSAY) he used his new political position to create Legislative Theatre. In this type of theatre Boal attempted To use theatre within a political system to create a truer from of democracy (Boal 2008i) This type of theatre uses all the techniques of the theatre of the oppressed in order to create new laws, Boal would take his theatre to the streets of Rio and asked the people what they thought of certain issues then proposed his findings to the council chamber. In this way he was able to put forward laws to be passed that had a significant impact on the people of Rio, for example, one law that was passed was one which protected the witnesses of crimes. (LEGISLATIVE T HEATRE 104).Theatre is not just about entertaining the masses it provides a means in which to get a message across. Although all of theatre could be said to be political in a broader sense, it is political theatre that has been established as designing a theatre that is left wing and that expresses the need for radical change. Political theatre has thrived under oppressive governments as a means of communicating political opinions however this has not always been the case. In spite of how seemingly political Greek theatre appears the censorship of the plays provides evidence towards the fact that it was not and it did little to challenge and change the social hierarchy of the time because it was controlled by the people in power. Greek theatre started by being interactive and an open form of communication however the right to speak was taken away when the citizens were split into chorus and audience. It is seemingly ironic then that it was someone speaking out of turn that first cr eated this form of theatre but by being made to be the audience the rest were stifled. face back at how political theatre has developed over the years it is clear of the relevance of each individual practitioner at the respective clock in which they were writing, for example, in the years of extreme censorship by the Bourgeoisie when Brecht was writing he was one of the first practitioners to use theatre to make people aware of their situation therefore enlightening them because it was the first time they had been shown the truth. However now, in the 21st Century when people are able to access, via the means of the meshing for example, all types of imformation without censorship they are given the opportunity through practices such as Boals to actively change society. Boals Legislative Theatre encapsulates the aim of political theatre. As Brecht used Epic theatre in order to create social change, Boal took his format and physically created change through the placement of new laws. This is ultimately the aim of political theatre, to release the oppressed from the oppressor.Conclusion.Zortman (2) says that The avant-garde artists were denounced as breeders of the proletarian world revolutionQuotes 356 / 1403words.