Presentation of self outline free essay sample

Erving Goffman was one of the most important Sociologists in the 20th century who focussed his study on aspects of social life. It is often argued that Goffman was â€Å"one of the twentieth century’s most remarkable practitioners of social science† (Smith, 2006:1). He was born on the 11th June 1922 in Alberta, Canada. His parents were Jewish and part of the group of Ukrainians who moved to Canada before the beginning of the First World War. Initially Goffman studied Chemistry before moving to the University of Toronto to study Anthropology and Sociology where he gained an understanding in Durkheim, Warner, Freud and Parsons. Goffman’s wife killed herself after battling with mental illness which provokes him to research into these areas and criticise many medical and scientific claims. Between 1959 and 1969 Goffman published seven significant one of those being the presentation of self in everyday life which will be assessed throughout this review. We will write a custom essay sample on Presentation of self outline or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In the discipline of Sociology Goffman was looked upon highly and today his work is widely cited. He referred to his work as dramaturgical analysis â€Å"Dramaturgical social psychology is the study of meaningful behaviour† (Brissett and Edgley, 1975) which was the study of social interaction on a micro scale looking at the meanings behind everyday events. Nowadays his work can be looked at as symbolic interactionism; the presentation of self in everyday life was and is regarded as one of his greatest contributions to the discipline. It looked at everyday behaviour grasping the elements of social interaction. This was a key contribution and sparked debates amongst sociology in years to come as he was the first to highlight social interaction as something to be studied within Sociology. It was a subject relatively untouched and in Goffman’s world everything is not quite what it seems. Goffman believed social life was based on theatrics and any face to face interactions in society could be interpreted as a theatrical performance. He provides a qualitative analysis of this process looking at the components of interaction. Within social interaction he identifies an individual as  playing a part and uses the term â€Å"performance† â€Å"the impression the actor is making on others† (Messinger et al, 1975) to refer to someone performing an activity in front of a set of observers. Then he talks about a â€Å"front† which can be seen as part of the â€Å"performance† to define the situation to those who are observing. One of the main aspects of this idea is t he â€Å"setting† which provides the background/scenery to the theatrics. Goffman states performance of some cannot take place without the correct setting, the â€Å"actors† must bring themselves to a correct place but â€Å"must terminate their performance when they leave it†. If we apply this to a modern day scenario with a student playing the role of â€Å"actors†, how they behave in social interactions will vary dependant on those involved. The â€Å"actor† would act differently in a social interaction with their personal tutor in comparison to their peers. Vitally important is Goffman referral to the existence of a â€Å"front† and â€Å"back† stage with the â€Å"front† being the stage where the performance takes place (they play the role what they assume is expected of them) with the individual â€Å"acting† throughout the social interaction. But the â€Å"back† stage is behind the scenes a less formal area which allows them to be â€Å"out of character† and converse with other â€Å"actors† in places like smoking areas, the bathroom and basically somewhere away from the â€Å"observers†. As Goffman exaggerates the â€Å"setting† is vital for the â€Å"performance† indicating â€Å"actors† behaviour is dependent on their social situation. Within this section and throughout the book Goffman offers several examples around each theory to enable the reader to grasp a true understanding. Essentially he indicates our social actions within society are shaped by invisible forces and the way we behave is not instinctive but our actions our shaped by the society we live in dependant on the scenario of the social interaction. He also implies how an individual will be focussed on making a favourable show of him (a good impression) which gives another explanation to why humans can be seen as actors in situations of social interaction, they act how they think the audience (observers) want them to act. To summarise his chapter on presentation Goffman’s primary assumption is that individuals differ not by their specific qualities, but by the situations they find themselves in to which they adopt different ‘roles’ to perform for the â€Å"observer†. For this work Goffman gained inspiration from his own personal experiences, as his wife struggled with mental illness and he chose to travel to the Shetland Islands to study the interaction in their society. His wife’s illness may have shaped his argument as another key piece of his work was Asylums where he carried out fieldwork in a hospital where he wished to look at the social world of an inmate. In his findings he was very critical and stated how behaviour that was deemed out of the ordinary was simply someone not conforming to the rules and expectations of society. If those rules or norms/values are broken that person would be viewed as an outsider and therefore displays an inability to play the role of an â€Å"actor†. A key theorist behind his work is Herbert Mead who published a book Mind, Self and Society and he looked at the experiences of human beings and focussed on the development of self. The individual mind can exist only in relation to other minds with shared meanings (Mead 1934) which shows Mead was one of the early sociologists to focus on the self like Goffman. Also Talcott Parsons whose work on stratification may have inspired him to focus on social interaction. Parsons was a structural functionalist and part of his worked looked at how a system adapted to its environment. As we know Presentation of self in everyday life looks at how individuals adapt in different scenarios of social interaction so he may have gained some inspiration from Parsons in that aspect. Emile Durkheim is one of the founders of Sociology and someone Goffman would have looked up to. Goffman makes it clear there are a set of standards which individuals are expected to follow which he describes similarly to how Durkheim did to religion; â€Å"as an expressive rejuvenation and reaffirmation of the moral values of the community†. There are links in their work particular around the concept of â€Å"spontaneity† which is to be spontaneous but to come from natural feelings. Within The presentation of self â€Å"spontaneity† is brought up by Goffman as an element of the â€Å"performance† to make it seem life-life and real, not entirely artificial. In Durkheim’s The division of labour in society he looks at a model of spontaneity although it is about labour it looks at a type of social interaction finely articulated organisation in which each social value is appreciated at its true worth (Durkheim) implying each individual has to conform within the social organisation they find themselves. Some aspects that are weaknesses of the book; what Goffman did not do is complicate his theory of social interaction with is by looking further into these situations and applying class, gender, social status etc. If he had of done this it could have taken his theory to another level as it is not something accounted for. In a sense he presumes all individuals would react similarly and does not take into account. For example if we looked at Pierre Bourdieu’s work on cultural capital, how some have greater access to aspects of society because of social aspects like education, certain knowledge which gives individuals advantage. The differentiation in these people would not be taken into account in Goffman’s work therefore would assume everyone would play the role of the â€Å"actor† the same in a social interaction. Nowadays in modern society it could be argued there is a reduced amount of social interaction due to globalisation and the mass advancements in technology. Therefore the book is not as relevant to modern day society although the key theories are still very much applicable. The issue with applying the theories in this book to society today is that an awful lot of interaction is no longer made face to face. With the advancements in technology since a lot of interactions are made via emails, over the phone, on Facebook obviously making Goffman’s theory deemed useless. It would be interesting to hear his thoughts on those and whether we are still acting whilst communicating through these means or is it the back room and somewhere we are preparing for our next performance. Goffman does come under criticism from other sociologists who claim that work like this makes him unpopular in the discipline. This is because he criticises and highlights what is wrong with society but does not provide an alternative or a solution to what he deems a problem. Of course this book was written in the 1960’s by Goffman but despite this many of his work is still relevant today particular the aspect of using â€Å"fixed crops† like houses, cars, clothes and employment. They still represent aspects of self and are in important aspect of the appearance of the actor. It provides a different view and perspective for members of society to look upon, seeing the self as a cause of cultural and social arrangements. Putting the question into people’s mind when are we truly ourselves and are our actions actually shaped by the society we live in. Although Goffman came under some criticism for highlighting the issues but offering no explanation to overcome them; Manning makes the argument that â€Å"unlike the traditional anthropologist whom broadens our horizons by expanding our knowledge of other societies, Goffman shows us the complexity of our own† (1992). This demonstrates the idea that Goffman with The presentation of self, did broaden people’s perspectives and offered a different explanation about our social conduct. Potentially he may have come under a lot of criticism as people were afraid to accept that he could be correct which would cause a lot of people to re-evaluate their situation. His theory of Presentation of self, talks of how individuals and groups put on a performance in society. Initially the performances are constructed and then maintained and those involved may be unaware of their own performances. A final interesting point raised is whether social arrangements have affected the self which is an example of interesting discussions within the discipline derived from Goffman’s work. To conclude the appreciation of Goffman’s book it is thought provoking not only to the reader but to the theorists in the discipline. His theory on social interaction provided a different perspective to those before him and he raised the question of social circumstances affecting people’s behaviour in social situations. Also the way his work is set out, each theory he lays out is alongside several example which allows everyone to be clear of what he is portraying and he manages to make his theory concise, therefore memorable. Although this piece of work was significant in Sociology and Goffman is now one of the most cited theorists in the subject, his work on the presentation of self; in everyday life has come under considerable amount of criticism. As mentioned this is because of him not offering solutions to the problems and today because of people interacting without being face to face his theory is not entirely applicable. But his work was essentially a metaphor and a lot of modern day theorists have taken his theory too literally.

Causes of Global warming

Causes of Global warming Thesis Global warming is the increase in the earth’s atmospheric temperatures due to a corresponding increase in the emissions of greenhouse gases (GHGs), for example carbon dioxide (CO2) and chlorofluorocarbons, which creates a ‘greenhouse’ effect: the retention of solar energy in the atmosphere due to the prevention of its escape by the ‘ceiling’ created by GHGs (Climate Research Board, 78).Advertising We will write a custom essay sample on Causes of Global warming specifically for you for only $16.05 $11/page Learn More The increase of the temperatures is one of the major causes of climate change. This can be observed by the high frequency by which heat waves occur; rainfall quantities have become more intense; and an increase in the intensity of severe climate incidents. This paper seeks to illustrate how human activities like the burning of large capacities of fossil energy have caused an increase in the GHGs that subseq uently accelerate the negative effects to the environment and consequently the health of the earth’s flora and fauna (Climate Research Board, 99). Causes of global warming An increase in the emission of GHGs is the main cause of global warming; this paper will discuss how specific gases contribute to the total effect and which natural phenomena and human activities produce these gases. This paper will discuss the major GHGs and aerosols: Carbon Dioxide (CO2) Methane (CH4) Chlorofluorocarbons (CFCs) Aerosols Carbon Dioxide (CO2) The burning of coal and oil are the major producers of carbon dioxide emissions. The United States is one of the major emitters of carbon dioxide. This is due to the use of power plants that burn coal to produce energy. The United States emitted 24 percent of the total carbon dioxide emissions in 1998.Advertising Looking for essay on literature languages? Let's see if we can help you! Get your first paper with 15% OFF Learn More Emerging nations like China and India are also increasingly emitting more carbon dioxide due to the use of coal. Methane (CH4) Methane emission sources include seepages from pipelines used to transport natural gas, the burning of biomass, seepages from the processes of mining for fossil energy, the decay caused by bacteria in sewages and dumpsites. Methane is also emitted naturally by the decomposition of organic materials in wetlands. Chlorofluorocarbons (CFCs) CFCs are compounds that contain fluorine, carbon and chlorine. They are industrially manufactured and have no naturally occurring sources. CFCs are mainly used as refrigerants. CFCs contribute to global warming by bringing about the ozone layer breakdown, thus exposing the earth to harmful ultraviolet radiation from the sun. CFCs do not dissolve in water and are inert. This causes to have a long span of life, thus their effects on the atmosphere can to up to several hundred years. Aerosols Aerosols refer to minute solid elements or liquid globules that are suspended in a gas. Smog and the air pollutants are examples of aerosols. Albeit aerosols are not GHGs, they contribute to the effects of global warming because the particles in an aerosol reduce the reflectivity of the aerosol (Mank, 2). This causes a reduction of atmospheric cover (since aerosols are major component of clouds), thus increasing warming.Advertising We will write a custom essay sample on Causes of Global warming specifically for you for only $16.05 $11/page Learn More Conclusion Human activities are the some of the major contributors to greenhouse gases, which in turn cause an increase in the earth’s temperatures. Albeit some of the temperature increases may be obscured by the increasingly unpredictable climatic changes, if the emissions of these gases continues at current rates the impact of global warming will become even more pronounced and severe (Mank, 7). This paper concludes that unless meas ures are taken to control the greenhouse gases emissions, the average temperature of the earth may reach levels that never been experienced before. Climate Research Board, Carbon Dioxide and Climate: Scientific Assessment, National Academy of Sciences, Washington DC, 1979. Mank, Bradford, â€Å"Standing and Global Warming: Is Injury to All Injury to None?† Environmental Law 35:1-10, 2005.

Design Principles and Applications Assignment Example | Topics and Well Written Essays - 1250 words

Design Principles and Applications - Assignment Example A client brief is, therefore, a rough draft or sketch of the project design that the architect uses in making sure that the client’s preference in designing is not compromised or lost completely. Generally, clients’ make their requirements list to be met by the architect without much professional information and they are usually faulty but not always a waste of time. Client-oriented designers and architects always consider having the clients requirements incorporated in the final design. The need for the client brief is to ensure that the project is clearly thought out between the client and the architect, with reflections, information, budgeting, and assessments easily facilitated for the project. Involvement of the client makes sure that discontent is eliminated at the earliest possible instance and clarifications sought well enough to facilitate the development of a good design. In this case, Moulton College will be required to submit a client brief which does not necessarily have to be very complicated. Enough information and detail should be availed of the design requirements for the farm manager’s house. To ensure that the designers’ ideas based on professional principles are in congruence with the clients’ needs and specifications, the clients’ are assisted by the designers in understanding some design concepts. While it is not possible to have all clients’ needs incorporated due to some technicalities, some requirements may be useful in the design when the designer understands them. â€Å"Firming up the brief† involves the understanding of the clients’ specifications in the design work. Communication and effectiveness of the client brief are faced by some challenges which both the client and architect should be prepared for in case they arose. Designers and architects have a higher propensity to ignore and assume the input of a client in the design.  

Travel and Tourism in Sri Lanka Essay Example | Topics and Well Written Essays - 2500 words

Travel and Tourism in Sri Lanka - Essay Example This "Travel and Tourism in Sri Lanka" essay outlines the recommendations what the travel organization of Sri Lanka should do to succeed on the international market and contains detailed and effective marketing strategy and action plan. Marketing strategy should be associated to the corporate and business strategies and should be consistent in directing competitive thrust on superior management level. As marketing has a large number of activities it has to decide on how it will serve its targeted customers. The marketing strategies should be a guide to achieve goals and objectives in an organisation. It is the base on which marketing decisions are made. These strategies are to be mixed appropriately which helps to achieve the goals in an easier way in an organisation. This mix is known as ‘Marketing Mix’. Marketing mix consists of four primary components. These are: Product: Product refers to the goods as well as services which an organisation offers to the consumers of the product and in return it charges certain amount of price. The buyer pays not for the product but for the satisfaction the product will give. The Sri Lankan company may place its travel packages as their product in the UK market. Price: Price refers to the amount that is charged against the products and the services the organisation offers. Pricing mix is an important element as it influences the demand of a product and the profitability of the organisation. An organisation has to keep the demand, buyers’ capability to pay for the product and etc.

The meaning of childhood and the ideal childhood meaning

The meaning of childhood and the ideal childhood meaning What does childhood means and what would be considered an ideal childhood? The period of time between the childs birth till the child reached adulthood, its experiences and quality of those years sums up childhood. For children to develop to their optimal, they would need loving, warm and responsible caregivers, within an environment that stimulates their growth. They should be living in lives free from fear, violence and exploitation. Unfortunately, this is not always so. It was reported that 90% of the world children were born into poverty. They live in poorly sanitized areas and suffered from malnutrition. They are exposed to diseases such as malaria, polio, tuberculosis and Aids. They lived in fear of war and famine. Their life expectancy is only of 40 years (Gammage P. 2008) Millions of children suffered in poverty depriving of their many rights including health and education, protection from exploitation and harm. Childrens rights are being denied and are robbed of their childhood. On the 20 November 1989, the United Nations adopted The Convention on the Rights of the Child and ratified all countries except the United States of America and Somalia. The Convention set standards concerning children and their rights. In this essay, I will discuss about the need to protect childrens rights, the aims of the Convection on the Rights of the Child and the difference it makes to childrens lives. The need to protect children Poverty threatens all aspects of childhood, it deprives children of their chance to grow and develop to their full potential. Lives of poor children in Honduras are examples of children whose childhood are being compromised and needed help and protection. Hurricane Mitch in 1978 has caused serious damages to Honduras. Families live in poverty while the city is on the road to recovery. In order to provide basic needs like food, clothing and shelter, both parents would need to work. Young children are being left at home without adequate care. Their health and development were seriously affected. Some even resort to taking the older sibling out of school to help look after the younger ones. Similarly in Botswana, parents had to bring their children to work when faced without support from extended family or money to pay for childcare services. These children are at risks of being exposed to sudden life threatening injuries. For some parents, they engage cheaper inexperienced babysitters to mind their children. Young children were being neglected. There were also many cases of children being left alone at home w ithout any supervision or care by adults. It was not a surprise for surgeons in the hospitals to attend to children who were involved in accidents at home. In Mexico, due to the lack of affordable childcare, mothers bring their young children along to their work. Once again, these childrens lives are constantly at risks. Their health and development will be affected. Research showed that 19 percent of the working parents in Vietnam and 27 percent in Mexico, left their children alone or in the care of another child at home. A high of 48 percent of the working parents in Botswana without support left their children home alone or in the care of another child. These parents were poor and had little education had no choice as they could not afford any childcare services ( Heymann, J. 2006) Children living in poverty are exposed to diseases and malnutrition. In Africa, children live in overcrowded shacks with no running water or electricity. They live and play in alleyways that are covered with sewage and trash. Their parents cannot afford to feed them or parents themselves are ill. Due to poor diet and weaken immune systems, many African children died. Poverty increases childrens vulnerability to other dangers including violence and exploitation. Child labour and child trafficking prevails. In Asia, it was reported that there were more than a million child prostitutes. Parents who are heavily burdened with debts sold their children into the sex trade. There were also many who were kidnapped and forced into prostitution. The aims of the UNCRC In 1989, United Nation adopted the Convention on the rights of the child. It is an international treaty that defines persons aged below 18 years as children. It aims to safeguard childrens rights, welfare, interests and development. All governments have acceded to the Convention except the United States of America and Somalia. There are a total of 54 articles stating the basic human rights of all the children in the world. The right to survival; the right to physical and mental development; the right to protection from harm and the right to be involved in family, social and cultural activities are some of childrens entitlements. Since 1989, there is a significant change in the attention given to early childrens rights. Various laws and policies in countries have been reframed to accommodate the convention. In UK, laws that govern health, housing and welfare benefits have a profound impact on the childrens lives. Children are affected by laws governing the Education and employment rights. The Children Act 1989 put in place the relationship between children, parents and the state. Local authorities were given the power to look after the welfare of childrens lives and provide safeguards against poor care. The Children Act 1989 calls for the reform in child care law pertaining to child services and child protection. Children are protected from harm, with local authorities investigating their situations of risk. Other Agencies like the housing, health and education authorities were involved in assisting the local authorities with their enquiries. Inter-agency work is a distinctive UK response to protecting childr en from harm (Thomas, N. 2009). In 1999, the Sure Start Local Programme (SSLP) had most of the deprived areas in England covered. This programme was designed to provide support for families and parents. It supports good-quality play and learning experiences for children under 4 years of age. Childs health and development, including family health were looked into (Thomas, N. 2009). In recent years, the Childcare Act 2006 requires English local authorities to look after the well-being of young children and provide specific services (Thomas, N. 2009). In acceding to the UN convention, UK has made provisions for areas such as the right to a good education, to participate in cultural and recreational activities, the disable childs right to care and education. Article 12 of the UN convention states that the child has the right to express an opinion, and his voice should be heard in any judicial and administrative proceedings which affects them (Thomas, N. 2009) On 2 October, 1995, Singapore acceded to the UNCRC and came into effect on 4 November 1995. Singapore is a nation without any natural resources. Our people are our only asset, children are our future, and thus their well being is our main concern. As reported in MCYS press release, there are several different government agencies with its policies which formed the Inter-ministry committee (IMC) on the Convention on the Rights of the Child. IMC serves as an inter-agency platform for deliberation and coordination of various issues concerning children. Childrens rights and interests are respected and protected. The government also take a serious view on any child abuse or ill-treatment of a child. However, in special circumstances, slight canning is permissible. Children who misbehave may also be given slight canning on the palm of the hand. Corporal punishment is prohibited especially towards females. Canning can be administered by the headmaster. Singapores education system aims to acquire not just academic knowledge, but also impart values and increase the sense of rootedness in our children. These aims are articulated in our Desired Outcomes of Education. Children with special needs are not left out. The government has implemented the Integrated Childcare Programme, helping childcare centre to equip their staff and the centres to accommodate children with special needs. The discussion above are examples to shows Singapore commitment to uphold the rights and best interests of children. Singapores vision for our children and youth is to be a confident nation full of compassion and committed to social responsibilities, yet developed strong ties with their family and community. UNRC weaknesses The United Convention on the Rights of the Child is not without its weaknesses. According to Vanessa Pupava, children viewed as priceless may not be good all the time. There may be negative consequences for both child and parents. As defined by World Health Organisation, harm to child includes physical and emotional ill-treatment, abuse, neglect and exploitation. All these would affect the mental health and development of a child. In such broad terms, raising a child would become a very problematic task for parents. Parental authority may become abusive in itself. Parents would become paranoid; parents may also become overparented (Furedi F 2002). These children would lose their freedom to play and learn about risk. In other cases, parents and educators may lose sight of their commitment towards children. They are afraid of infringing the rights of the children and may they feel that they cannot attain the ideal way of upbringing the children, in the end, they may transfer their duti es to other institutions or even specialist services (R.Roose and M.Bouverne-De Bie, 2007 p.431-443). In UK, childrens rights can sometimes be seen as problematic. Adolescents may become aggressive and demanding. Parents and teachers fear of losing control with their teens. When children are given the right to participate in decision making, it may seem to discard the traditional notions of parents control over their children (R.Roose and M.Bouverne-De Bie, 2007 p.431-443). Conclusion Best interest of the child is one of the focal point in the convention on the rights of the Child. The childs rights include protection, prevention and participation in decision-making. It would be still a long way for successful implementation of the convention as adults still hold their own perceptions of children. This concept would also have different meanings for different countries in their own context. It would require the joint efforts of all for successful implementation of the convention and tackling with the constraints and shortcomings that comes alongside with it.

Self-Control and the ‘Self’ Essay -- Psychology

Nearly everyone in the modern world has heard of the term self-control, a seemingly non-important or uninteresting topic of interest. However, self-control has been related to having one of the most significant impacts on a person. Even some have gone as far to say that self-control is the â€Å"biggest predictor of a successful and satisfying life† (Pinker 1), which are bold words for a topic that many merely disregard. The idea of self-control is a concept coined in the Victorian era, and appears immensely throughout the novel, Willpower: Rediscovering the Greatest Human Strength, written by R.F. Baumeister & J. Tierney. Essentially a self-help book, ‘Willpower’ provides explanations for why humans are doing the things that they do, and why people aren’t always as virtuous as they may be expected to be. Self-control affects many facets of a person’s life, and by looking at how it is presented in psychology, and in Baumeister and Tierney’s n ovel, Willpower: Rediscovering the Greatest Human Strength, one will see the correlations and differences between modern research and historical perspectives on the idea of self-control, and ultimately decide if the idea of self-control is an inherent trait or a learned condition. Self-control is a topic and concept argued frequently in the psychological world. Some believe that self-control is an innate feature of human kind, while others, like Baumeister, believe it is a characteristic that can be practiced and strengthened. Baumeister’s model of willpower describes self-control as a muscle that can be depleted and replenished, just as any other muscle in the body. What is self-control exactly? Well, Freud was a psychologist who believed that personality is a biological component of ones-self,... ...Virtue, Personality, and Social Relations: Self-Control as the Moral Muscle." Journal of Personality 67.6 (1999): 1165-194. Print. Davis, Doug. "A Glossary of Freudian Terminology." A Freud Glossary. Web. 3 Apr. 2012. . Merriam-Webster. Merriam-Webster. Web. 17 Apr. 2012. . Pinker, Steven. "The Sugary Secret of Self-Control." NY Times. Sept.-Oct. 2011. Web. 4 Mar. 2012. "The Science of Self-Control [Paperback]." Amazon.com: The Science of Self-Control (9780674013575): Howard Rachlin: Books. Web. 17 Apr. 2012. . "Self Control in Society, Mind, and Brain." Alibris. Web. 17 Apr. 2012. .

Warren Buffet Case Study

The case study â€Å"Warren E. Buffet, 2005† produced by Darden Business Publishing provides tremendous insight into the investing and management style of legendary entrepreneur Warren Buffet. A clear examination and exploration of this case study provides a brilliant analysis and insight into how Buffet explores his investing and management philosophy in relation to companies such as Berkshire Hathaway and MidAmerican Energy Holding. A summary of the case study is as follows: Warren Buffet remains the most successful entrepreneur in recent history.His net worth is in the range of $44 billion and it is the result of tireless hard work into making right investment decisions. This is typified by his management of Berkshire Hathaway which turned out to be significantly successful despite many misgivings by naysayers that did not believe it would be a viable acquisition. The wise choice of Buffet’s involvement in Berkshire Hathaway is evidenced by the amazing growth of the company over a three decade period. The stock was of minor value in 1977 and in recent years it has grown enormously.The holdings of Berkshire Hathaway have also grown significantly making it a company to truly keep an eye on. Buffet’s success with this company can be considered the model method in which all companies should be managed. The success of this company represents Buffet’s overall investing philosophy. Such a philosophy entails seeking out undervalued stock that has great potential to grow. This philosophy is based on a number of theories which including examining economic reality as opposed to accounting reality; realizing time is the most important assetWarren Buffet Case Study – 2 associated with any stock venture; keeping an eye on the cost of lost opportunities; measuring performance by a gain in intrinsic value and not accounting profits; examine risk; diversify holdings; avoid emotions and hunches in investing; understand the alignment of agent s and owners. Many may such approaches are overly simple. To a degree, they are. However, they are also very effective as the article never fails to point out. Such a process is further illustrated in examples present in various other Buffet ventures detailed in the article.Hypothetical ventures are presented in order to illustrate the investing, management, and psychological strategies and methods that Buffet is known to employ. Balance sheets from MidAmerican Energy Holdings are offered. This provides a clear examination of what such a company holds and how it needs to perform in order to succeed. The Buffet paradigm is examined in light of the information presented on the balance sheets. To great interest, the Buffet Acquisition Criteria Sheet is included in the paperwork used to illustrate the various steps in the process.What makes this further interesting is that it provides a unique psychological insight into the way in which Buffet operates. As odd as it may sound, the acqui sition gives insight into the moral grounding of Buffet. He seems to be an individual that runs an honest and legitimate business. Such an approach helped Buffet’s success quite significantly. Consider it a model all entrepreneurs should follow. Warren Buffet Case Study – 3 II. ) Relation to Class Material The internal business analysis of the case study relates in many ways to material that was presented in the class.A brief overview of components of the case is presented in this section. Analysis will follow in the third section. Two of the major areas covered in class as they relate to a business are profitability and long term planning. This becomes evident in the case study through exploring the general steps that Buffet takes with all of his business ventures. (Although in this case, we are looking mainly at Berkshire Hathaway and MidAmerican Energy Holdings. In terms of profitability, there is a desire to succeed via a long term strategy as opposed to any short term market gains. Or, more accurately, any potential perceived gains.The hypothetical present in exhibit 4 covers the notion that a company will not pay dividends on profits. Rather, it will opt to reinvest the dividends. Commonly, many businesses will look towards the payout of dividends as financially attractive. However, by reinvesting the dividends, it becomes much more likely that the long term success and growth of the business can be more effectively maintained. This is because adequate cash reserves are ‘pumped’ into the business for those cycles where losses may be inherent. Additionally, the growth of the company is promoted which may potentially increase its overall value.This, in turn, raises the potential for increased and enhanced profitability as a result. This would be considered among the approach that follows â€Å"investing activities† plans. Such an approach may be Warren Buffet Case Study – 4 frowned upon by some but it does possess g reat benefits as evidenced by the Buffet approach. Ultimately, to launch any reliable venture designed for long term impact, there needs to be a clear understanding of the value of the firm. This requires an analysts approach to what would be the best way to approach the operations of the business as they relate to future investing.There can be both insider and outsider investing analysis employed. In the case study, you could say that an insider perspective is employed since the Buffet model for investing and managing is employed and not particularly deviated from in any manner. This was, ultimately, a positive decision in the realm of Berkshire Hathaway since the company proved to be stunningly profitable beyond most expectations. In order to truly gain an insight into the Buffet methodology (and any venture for that matter), one needs to gain a proper and effective insight into the financial statements.From this, a better and more logical understanding of the business might be pr ocured. When one examines the holdings of Warren Buffet, a greater insight into his investment and managerial process is revealed. While we do not see a complete and total insight into the strategies he follows, we can see an overview of where his interests are and how he seeks to diversify his holdings. That alone opens the door for a greater understanding of the overall process that is at work. III. ) Critique of the Case Warren Buffet Case Study – 5 This particular case does have a great many merits to it.It truly does give a valuable insight into the internal process that is employed to effectively run a business venture. When one takes into consideration that great success Warren Buffet has had over the years, it would be safe to say that understanding his methodologies can prove helpful. This is illustrated through an analysis of the internal operational methodologies of how Buffet handles his managerial acumen. Unfortunately, we do not see much new in the case study an d that can be problematic. But, the case study does present a detailed insight into some of the more commonly known motivations Buffet employs.It is also important to point out that no one can completely duplicate the processes that Buffet follows. Not everyone is Warren Buffet and the need to tailor various components to suit one’s own needs is certainly advised. That said, the material presented in the case study does present the valuable and viable ‘food for thought’ that budding entrepreneurs will find of great value. But, unfortunately, not much new ground is detailed in the case study. The case study gains much merit by detailing the many facets of the Buffet approach. The material is presented in a logical and orderly fashion that makes it very easy to comprehend.The problem with such a presentation, however, is that there is a slight inference that one should follow the Buffet approach to investing and managing without deviating from it. This can be an ab surd notion if followed to the extreme. Different investors will have different styles of investing. Different companies come with different levels of complexity. Political, economic, and even environmental factors all come into Buffet Case Study – 6 play and these can have significant impact on the way in which a managerial process is undertaken. The case model also follows a concept of low risk.This is not to say that there is a decided warning against taking any risk. However, it would be very safe to say the theories presented and discussed in the case study provide an insight into a very Warren conservative investment and management strategy. Again, this is not an inherently bad approach. Many entrepreneurs are better suited to such an approach. But, not everyone is. Those looking for riskier and more volatile ventures would probably be better served examining case studies that are closer to their own individual styles and paradigms.This is not to say one approach is bet ter than the other. They are different approaches and one need to look towards those methods that are a better match. Overall, the case study can be considered an excellent and effective one that provides the proper look into the way in which Warren Buffet operates. (The case study is not presented in a cursory manner. Overly brief analysis can lead to inaccurate conclusions which would undermine the overall value of the case study) The clarity of the presentations allows for a deeper insight into the entrepreneur’s methodologies.Such methodologies are finely detailed in a series of financial analysis tables, charts, and hypothetical scenarios that further promote a better understanding of Buffet’s ventures. Considering the somewhat complex nature of Buffet’s holdings, the clarity of the organization deserves many accolades. Furthermore, the case study may be dated for the year â€Å"2005† but it will have timeless value since its presentation into a simp le – yet effective – strategy is so well thought out and detailed. Consider that among the greatest merits of the case study overall. Reference Darden Business Publishing. â€Å"Warren E. Buffet, 2005. † University of Virginia.