The Individual and the Government Essay Example for Free

The Individual and the Government Essay Our society is composed of many individuals who come from almost all walks of life. The purposeful functions of the individuals in the society benefit the state at large. The same is true for the performance of the state, giving us the idea that the state has the capability to provide not only the needs of the individuals but the also the needs of its own. Every individual in every state has their respective roles that, when summed altogether, comprise the entire benefits for the state. Quite similarly, every state also has its own distinctive roles that benefit the society in general. The government of the state recognizes the individual in many ways, and the most prominent of this comes in the form of the laws that promote and maintain the welfare of the individuals. On the other hand, the individual citizens recognize the roles and responsibilities of the government towards the people and the state.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It is a fact that individuals are one of the key components of the state, and that their roles in the state contribute to the preservation and continuance of the welfare of the general society. Many of the philosophers from the Renaissance to the contemporary times have emphasized the importance of individual human beings in the formation of the state. A number of these philosophers, specifically those who have proposed their own theories of social contract, stress the point that human beings agreed to form the state in order to preserve their lives as opposed to living a solitary life. Even the government is comprised of individual members each with specific mandated functions that altogether build-up the internal structure and organization of the government. With this aggregate membership of individual citizens, the government is able to proceed with its roles in the state and deliver the needs of the people, hence, exercising its part as the authority in the state.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   While the state is an independent entity whose authority does not depend on other independent states, the state nevertheless needs the citizens who will fill-up the positions in the government in order to give it the capacity to perform its roles. The role of the citizens does not end there. It is also true that the individual citizens of the state pay taxes that serve as the source of the government’s finances. Even the minors pay taxes through the form of purchasing taxable goods and other services available within the territory of the state. While these are just some of the legally binding responsibilities of the citizens, the scope of these responsibilities is of primary significance to the well-being of the state—which is why they are bounded by the law. The individuals may not choose not to fulfill these responsibilities because the law prescribes them to do so.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The state is essentially important, and that it serves as the identity of the summation of all individuals that belong to a single nation. Since the state is composed of individual citizens, it can also be said that the individuals share a form of authority as well. Had it not been for the smaller parts that comprise the whole, the whole would not have materialized. The same holds true for every state or government. Hence, even though the government is considered to be an authority in the state, the importance of the individuals should not be discounted.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The significance of the individual not only in the formation of the state but also in the maintenance of the state should all the more be recognized. The power and the authority of the state is largely influenced by the roles and performances of individuals, and that a poor functioning of the individual members of the government and of the state in general greatly affects the state. Thus, the state should acknowledge the welfare of the individuals and realize the fact that, although there may be other sources one can contend, these individuals are one of the significant foundation of the power and authority of the state. References Krueger, Anne O. Government Failures in Development. The Journal of Economic Perspectives 4.3 (1990): 11-13. Palmer, Tom G. Review: Social Contract, Free Ride: A Study of the Public Goods Problem by Anthony De Jasay. Ethics 101.3 (1991): 651-52.

Die fusion von hewlett-packard

Die fusion von hewlett-packard 1. Einleitung „Aus zwei Verlierern wird kein Gewinner, diese auf die Fusion von Hewlett-Packard und Compaq bezogene Aussage stammt von Bob Djurdjevic. (Schießel, 2001) Ist das wirklich wahr? Mà ¼ssen vermeintliche Verlierer auch immer solche bleiben? Resultiert daraus, dass aus zwei Gewinnern immer ein neuer wird? Fast tà ¤glich berichten die Medien à ¼ber Unternehmenszusammenschlà ¼sse, immer wieder ist die Rede von „Mergers and Acquisitions und jedes hat seine eigene Meinung darà ¼ber, ob die einzelnen Transaktionen erfolgreich waren oder nicht. Es muss sich niemand die Meinung eines Anderen aneignen, wenn er die Mittel dafà ¼r hat, sich seine eigene bilden zu kà ¶nnen. In unserer Seminararbeit geht es um Erfolgsfaktoren von „Mergers and Acquisitions. Wir mà ¶chten nicht nur die Erfolgsfaktoren vorstellen, sondern dem Leser ein Werkzeug in die Hand geben. Mit diesem Hilfsmittel sollte er in der Lage sein Unternehmenszusammenschlà ¼sse von einer neuen Perspektive, nà ¤mlich die des Kritikers, zu betrachten. Es wird ihm eine Checkliste als Grundschema vorgegeben, anhand dessen er seine persà ¶nliche Einstufung eines Zusammenschlusses in Erfolg bzw. Misserfolg vornehmen kann. Zum Schluss unserer Seminararbeit wenden wir unsere aus der Theorie abgeleitete Liste auf das Fallbeispiel Hewlett-Packard und Compaq an. Daher werden wir soweit es unsere Literatur erlaubt insbesondere auf „Mergers and Acquisitions in der IT-Branche eingehen. Eine detaillierte Erarbeitung von finanziellen Aspekten insbesondere Aktienkursen werden wir vernachlà ¤ssigen, weil wir davon ausgehen, dass diese Informationen fà ¼r jeden Interessenten leicht auffindbar sind. Auch das Thema der Unternehmenskultur wird nur erwà ¤hnt, aber nicht bearbeitet, da dieses Thema den Rahmen unserer Arbeit sprengen wà ¼rde. Jeder Leser unserer Seminararbeit soll im Nachhinein sein eigenes Werkzeug, d.h. seine eigene Checkliste zur Beurteilung von Unternehmenszusammenschlà ¼ssen erstellen und auch anwenden kà ¶nnen. Denn wir sind der Meinung dass Erfolg keine objektive sondern subjektive Einschà ¤tzung ist. Die Arbeit ist in die Kapitel Begriffliche Grundlagen, Motive fà ¼r Merger Acquisitions Transaktionen, Wandel der IT-Branche, Die drei Phasen der Fusionen, Kritische Erfolgsfaktoren von Mergers Acqusitions, Praxisbeispiel: Fusion von HP und Compaq sowie einem Fazit untergliedert. Im Kapitel Begriffliche Grundlagen werden die fà ¼r diese Arbeit notwendigen Begriffe definiert. Das Kapitel Motive fà ¼r Merger Acquisitions Transaktionen zeigt aus der Literatur, welche Motivationen Unternehmen haben eine Fusion oder Unternehmensà ¼bernahme zu tà ¤tigen. Im Kapitel Wandel der IT-Branche wird gezeigt wie sich der relevante Markt im laufe der Zeit verà ¤ndert. Im Kapitel Die drei Phasen der Fusionen wird detailliert der Ablauf einer Fusion aufgezeigt. Das Kapitel Kritische Erfolgsfaktoren von Mergers Acqusitions arbeitet aus der Literatur Erfolgsfaktoren heraus welche man bei einer Fusion wahrnehmen kann und arbeitet diese fà ¼r den IT-Markt aus. Im Praxisbeispiel Kapitel wird d ie herausgearbeitete Theorie an einem Vorgestellten Beispiel erprobt. Im Fazit wird der Wert und die Aussagekraft der Erfolgsfaktoren kritisch gewà ¼rdigt. 2. Begriffliche Grundlagen Das Kapitel Begriffliche Grundlagen ist der Grundstein der Arbeit. Es werden die Begriffe Mergers and Acquisitions und Erfolgsfaktoren definiert. Eine Eingrenzung und Definition der IT-Branche, wie sie in dieser Arbeit verwendet wird, erfolgt im dritten Unterpunkt. Alle nachfolgen Kapitel verwenden diese Begrifflichkeiten. 2.1 Mergers and Acquisitions Externe Wachstumsstrategien durch Unternehmenszusammenfà ¼hrungen in Form von Fusionen oder Erwerbe bieten Unternehmen eine Alternative zum internen Wachstum, die durch Aktivierung eigener Potenziale realisiert werden kà ¶nnten.[1] (Bea Haas, 2001: 171ff) Das fà ¼r Fusionen und Erwerbe stehende englische Begriffspaar Mergers and Acquisitions (MA) gehà ¶rt mittlerweile zum deutschen Sprachgebrauch (Picot, 2000: 15), wobei Merger auch als „Verschmelzung, „Vereinigung oder als „Zusammenschluss von Unternehmen à ¼bersetzt werden kann (Macharzina, 2003: 636). Acquistitions steht fà ¼r den „() Kauf ganzer Unternehmen bzw. einzelner Unternehmensteile oder strategischer Anteilspakete () (Mà ¼ller-Stewens, Spickers Deiss, 1999: 1). In einigen Bà ¼chern werden die beiden Wachstumsarten „Merger und „Acquisition nicht differenziert, sondern syonym verwendet (Schrà ¶der, 2007: 2). Falls doch eine Unterscheidung erfolgen soll, so kann diese durch die Bindungsintensità ¤t durch die Analyse rechtlicher und wirtschaftlicher Selbststà ¤ndigkeit vor und nach des Zusammenschlusses ausgearbeitet werden (Lucks Meckel, 2002: 23). „Nach der Richtung der Diversifikation kà ¶nnen horizontale, vertikale und konglomerate Zusammenschlà ¼sse unterschieden werden (Bà ¼hner, 1985: 28) Tà ¤tigen zwei Unternehmen der selben Branche eine MA so spricht man von einem horizontalen Zusammenschluss. Wenn die Unternehmen an einer Produktionskette liegen, so spricht von einem vertikalen Zusammenschluss. Um einen konglomeraten MA handelt es sich, wenn die Unternehmen weder auf Produkt- noch auf Marktebene Gemeinsamkeiten aufweisen.[2] (Bà ¼hner, 1990: 5f) Wir werden in unserer Arbeit die Begriffe „Merger und „Acquisition synonym verwenden. 2.2 Erfolgsfaktoren Nach (Daschmann, 1994: 1) versteht man unter Erfolgsfaktoren alle in einem Unternehmen vorkommenden Determinanten, Maßnahmen und Aktività ¤ten, die den zukà ¼nftigen Erfolg positiv beeinflussen kà ¶nnen. Um seine Wettbewerbsfà ¤higkeit zu erhà ¶hen muss ein Unternehmen seine Erfolgsfaktoren, d.h. seine eigenen Stà ¤rken und Mà ¶glichkeiten kennen und sie bei seinen strategischen Entscheidungen heranziehen. Auch seine Investition sollten gezielt in deren Richtung gelenkt werden um seinen wirtschaftlichen Erfolg verbessern zu kà ¶nnen. (Mandorf, 2008) Der Unternehmenserfolg hà ¤ngt zum grà ¶ÃƒÅ¸ten Teil von sog. kritischen Erfolgsfaktoren ab, wà ¤hrend die meisten anderen Faktoren diesen untergeordnet sind. (Hoffmann, 1986: 832) 2.3 IT-Branche Bei der Definiton der IT-Branche treten methodische Probleme auf, denn es handelt sich um einen à ¼ber mehrere klassische Branchen verteilten Sektor. Selbst die offizielle Wirtschaftsstatistik weist keine allgemein gà ¼ltige Begriffsbestimmung auf, sondern zà ¤hlt einzelne IT-relevante Wirtschaftsbereiche zusammen. (Langenstein, 2006: 14f) Somit ist der IT-Sektor nur durch die Angabe der betroffenen Wirtschaftszweige definierbar. (Menez, Munder, , Tà ¶psch, 2001) In unserer Arbeit stellen wir nur eine Mà ¶glichkeit zur Abgrenzung des IT-Sektors vor: Nach dem Global Industry Classification Standard (GICS) umfasst der IT-Sektor die folgenden allgemeinen drei Bereiche: Softwaretechnologie und Softwaredienstleistung, diese umfasst unter anderem Unternehmen, die Softwareentwicklung in verschiedenen Bereichen wie z.B. dem Internet und Datenbanken anbieten. Auch Beratungs- und Dienstleistungsunternehmen der Informationstechnologie gehà ¶ren in diese Kategorie. Hardware und Ausrà ¼stung, in diesen Bereich fallen die Hersteller und Vertreiber von elektornischen Gerà ¤ten und den zugehà ¶rigen Intsrumenten. Halbleiter und Halbleiterausrà ¼stungs Hersteller 3. Motive fà ¼r Merger Acquisitions Transaktionen Nachdem die begrifflichen Grundlagen im 2.Kapitel geschafft wurden sind, stellen wir nun die Antriebskrà ¤fte, die das Handeln der Unternehmen auf die Akquisitionsziele ausrichten, vor. (Bamberger, 1994: 59) In diesem Kapitel werden die wichtigsten und hà ¤ufigsten Motive fà ¼r MA dargestellt. Achleitner (2002) unterscheidet die Fusionsmotive in wertmaximierende Motive, die generell durch Ertrags- und Kostensynergien ergeben ist, und die nicht wertmaximierende Motive. (Kirchhoff, 2009: 20). Dem zu Folge kategorisiert der (Achleitner, 2002) die Fusionsmotive in Strategische, finanzielle und persà ¶nliche Motive. 3.1 Strategische Motive In diesem Unterpunkt werden die strategischen Motive von Unternehmen in die Punkte Synergieeffekte, Ausnutzung von Marktmacht und Markterweiterung unterteilt und dargestellt. Alle drei Punkt sind von gleicher Bedeutung. 3.1.1 Synergieeffekte Ein wichtiges Motiv fà ¼r MA stellt die Realisierung von Synergieeffekten dar. Es werden die bereits vorhandenen Ressourcen beider oder mehrer Kooperationsunternehmen gebà ¼ndelt. Damit wird auf verschiedenste Art und Weise das Ziel verfolgt, die Effizienz in Unternehmen zu erhà ¶hen und Kosten einzusparen. Aufgrund von Grà ¶ÃƒÅ¸envorteilen ( Economie of scale ) kà ¶nnen produktionswirtschaftliche Synergieeffekte erzielt werden. Dabei sinken die Stà ¼ckkosten durch die Massenproduktion. Dies fà ¼hrt teilweise dazu, dass Rationalisierungsgewinne durch Personalabbau, erzielt werden. (Budzinski Kerber 2003: 42; Park 2004: 51f). Weiterhin treten aufgrund von Verbundvorteilen ( Economies of scope ) operationale Synergieeffekte auf. D.h. die Leistung, die jedes Unternehmen unabhà ¤ngig von einander erbracht hat, wird zusammengefasst. Auf dieser Weise kà ¶nnen hà ¶here Skalenertrà ¤ge erzielt werden. In vielen Branchen mit hohen Investitionskosten ist es von zentraler Bedeutung Forschungs- und Entwicklungs-Synergieeffekte zu erzielen, damit durch Unternehmenszusammenschà ¼sse sowohl die Kosten, als auch das Risiko gestreut werden kann (Budzinski Kerber 2003: 44; Park 2004: 52). Ist die Grà ¶ÃƒÅ¸e eines Unternehmens gestiegen, so kann man von den finanzwirtschaftlichen Synergieeffekten profitieren, da das Unternehmen fà ¼r die potentiellen Anleger attraktiver erscheint. Dies erleichtert die Aufnahme in Bà ¶rsenindices und somit den Anstieg der Kreditlinie bei Banken (Kleinert Klodt, 2002: 43). 3.1.2 Ausnutzung von Marktmacht Bei einem Zusammenschließen erhoffen sich die Unternehmen zum einen Wettbewerber aus dem Markt genommen zu haben und zum anderen den Marktanteil des à ¼berlebenden Unternehmens zu steigern. Die dadurch gestiegene Marktmacht der Unternehmen ermà ¶glicht ihnen eine flexiblere Preisgestaltung gegenà ¼ber Kunden sowie Lieferanten. Somit kann die Marktmacht zu einem erheblichen Wettbewerbsvorteil auf dem Markt beitragen. Die Unternehmen kà ¶nnen durch MA Eintrittsbarrieren fà ¼r die zukà ¼nftigen Konkurrenten aufbauen. Durch den Nichteintritt weiterer Konkurrenten sichern sie sich eine stabilere Preismacht auf dem Markt. (Klopfer, 2008: 44) 3.1.3 Markterweiterung Ein weiteres klassisches Ziel der strategischen Unternehmensakquisition ist das Streben nach dem Marktwachstum. Damit verfolgen Unternehmen in erster Linie das Ziel der Umsatzsteigerung und der Stabilisierung ihrer Ertrà ¤ge. Die Umsatzsteigerung resultiert aus dem Eintritt in neue attraktive Mà ¤rkte und aus der Erhà ¶hung der Wertschà ¶pfungspotenziale. Bei der geographischen Expansion wird zwischen den grenzà ¼berschreitenden, so genannten „Cross- Border- Zusammenschlà ¼ssen und den nationalen MA differenziert. (Jansen Kà ¶rner, 2000: 18) (Jansen, 2000b: 388) Es ist beobachtbar, dass in den vergangenen Jahren die grenzà ¼berschreitenden Zusammenschlà ¼sse mehr an Bedeutung gewonnen haben. Die Unternehmen kà ¶nnen sich dadurch den langwierigen und risikoreichen Eigenaufbau in einem fremden Land ersparen. (Amihud Lev , 2002: 21). Allerdings sind dabei die kulturellen oder sprachlichen Unterschiede nicht zu unterschà ¤tzen. In diesem Zusammenhang bestà ¤tigt auch Wolfgang Wagner, Senior Partner und CEO der PricewaterhouseCoopers Eurofirms ( PWC ) die Relevanz dieses Motivs mit der Aussage: CEOs kleiner und großer Unternehmen aus der ganzen Welt sehen zunehmend Wachstumsmà ¶glichkeiten fà ¼r ihre Unternehmen. Sie nutzen die Globalisierung nicht mehr primà ¤r zum Outsourcing oder der Produktionsverlagerung in Niedriglohnlà ¤nder, sondern um neue Produkte, neue Absatzmà ¤rkte und neue Kunden zu finden (presseportal.de, 2009) 3.2 Persà ¶nliche Motive Als treibende Kraft fà ¼r Fusionen wird hà ¤ufig das Management genannt. Unterstellt man einen perfekten Kapitalmarkt, so ist nach Manne (1965) der Kapitalwert einer Unternehmung direkt von der Leistung des Managementteams der Unternehmung abhà ¤ngig. Er folgert, dass eine schlechter bewertete Unternehmung von einem ineffizienten Managementteam geleitet wird und bei einer à ¼bernahme von einem effizienteren Managementteam abgelà ¶st wird. Dieses kann durch einen besseren Fà ¼hrungsstil die Effizienzpotentiale als Gewinn realisieren. Bei einem intensiven Unternehmenskontrollen Wettbewerb der Managementteams wà ¤ren keine Freirà ¤ume fà ¼r deren eigenen Ziele oder Interessen vorhanden. Nach dieser Theorie sind die Interessen der Eigentà ¼mer und des Managementteams kongruent. Da die Prà ¤missen in der Globalisierten Welt von Heute nicht zutreffen und es keinen perfekten Kapitalmarkt gibt, entstehen Freirà ¤ume fà ¼r das Managementteam um seine von den Eigentà ¼mern abweichenden Ziele zu verfolgen. Es entsteht nach Bà ¼hner (1990, 19) eine Pricipal- Agenten Situation zwischen Eigentà ¼mer und Management. Das Hauptziel der Eigentà ¼mer ist eine Gewinnmaximierung. Das Hauptziel des Managements kann hiervon abweichen. Es kann nach persà ¶nlichen Motiven handeln, um sein eigenes Einkommen zu maximieren. Die Gehà ¤lter hà ¤ngen von vielen Faktoren ab wie z.B. der Grà ¶ÃƒÅ¸e der Unternehmung, der Umsatzhà ¶he, der Mitarbeiterzahlen oder der Aktienkurse. Diese Faktoren kà ¶nnen vermeintlich durch eine Fusion oder à ¼bernahme herbeigefà ¼hrt werden. Das eigene Prestige und der Bekanntheitsgrad sind Eigenschaften des Managementteams, welche durch eine Fusion gesteigert werden kà ¶nnen und sich auf das eigene Einkommen in der Zukunft positiv auswirken kà ¶nnen, aber nicht der Gewinnmaximierung der Unternehmung dienen. Es besteht nun das Risiko von „unprofitablen Fusionen oder à ¼bernahmen von Managementteams, falls diese nicht von den Eigentà ¼mern kontrolliert werden. Eine Kontrolle von den Eigentà ¼mern kann durch ein Anreizsystem geschehen. Nach Faulli-Oller und Motta (1996) mà ¼ssen mit dem Managementteam Vertrà ¤ge geschlossen werden, die einen Anreiz fà ¼r die Entlohnung geben. Sie schlagen eine à ¼bernahmesteuer vor, diese wà ¼rde dem Management von dem Gehalt abgezogen werden. Die Entscheidung fà ¼r eine à ¼bernahme soll aber bei dem Managementteam bleiben, da diese sich mit dem Tagesgeschà ¤ft beschà ¤ftigen und sich besser mit der Materie auskennen. Fusionen dienen auch dem Management als Schutz vor der eigenen à ¼bernahme. Je grà ¶ÃƒÅ¸er ein Unternehmen ist, umso schwerer ist es sie zu à ¼bernehmen. Als Folge dieser Tatsache entsteht fà ¼r das Management ein Arbeitsplatz und dieser ist einer geringeren Bedrohung von Außen ausgesetzt. Als Zusammenfassung kann man bestà ¤tigen, dass es ein heterogenes Feld zwischen den Eigentà ¼mern und dem Management gibt. Neben den strategischen Motiven geben die Management Motive eine Erklà ¤rung dafà ¼r, warum es so viele und auch unprofitable Fusionen gibt. Das gelingen einer Fusion hà ¤ngt somit zum Teil auch von dem Management und dessen Interessen ab. 3.3 Branchenspezifische Motivationen In der Literatur lassen sich spezifische Motivationen feststellen, die insbesondere fà ¼r die IT-Branche gelten. Nach Fox (2002) ist die Motivation von Technologie Erwerb durch MAs in der IT-Branche sehr hoch. Das fà ¼hrt er auf den Wandel in der IT-Branche und dem damit entstehenden Druck sich Sektoren à ¼bergreifend zu positionieren und zu einem Anbieter von Produkten aller Sektoren zu werden. Die schnellste Là ¶sung eine Technologie zugà ¤nglich zu machen, ist der Zusammenschluss mit einem Unternehmen, welches diese Technologie besitzt. Wenn ein sektorenà ¼bergreifendes Angebot von Produkten geboten wird, haben die Unternehmen den Vorteil, dass sie sich nicht auf ein Segment fixieren und von den Wachstumsschwankungen abhà ¤ngig sind. Insbesondere ist dieses bei dem PC-Sektor so. Dieser Sektor ist sehr von der Performance der anderen Mà ¤rkte abhà ¤ngig und neigt zu starken Schwankungen. Die Motivation sich horizontal zu erweitern hà ¤ngt stark von dem Wandel in der IT-Br anche ab. Denn die Unternehmen mà ¼ssen sich den Nachfragen an diesem Markt anpassen. (Westerwelle, 2003: 41ff) 4. Wandel der IT-Branche In den Kapiteln vorhergehenden Kapiteln wurden die Begriffe dieser Arbeit definiert und die mà ¶glichen Motivationen fà ¼r MA insbesondere des IT-Sektors vorgestellt. Wir bleiben in diesem Kapitel in der IT-Branche und erlà ¤utern die anhaltenden Verà ¤nderungen der Branche. „Die IT-Branche ist im Fusionsfieber. Unternehmen versuchen, ihre Konkurrenten durch Expansion zu à ¼berrunden und sich neue Geschà ¤fte zu erschließen. Immer mehr Firmen setzten auf Dienstleistungen. (Berger, 2009) In Anlehnung von Westerwelle (2003: 37ff) kann man den Wandel wie folgt skizzieren. Mit dem Erfolg von Dell, welcher durch die Sà ¤ttigung des PC-Marktes und seinen sehr kostengà ¼nstigen direkt Vertrieb von PCs her kam, wurde der PC-Sektor Ende 2000 zu einem margenschwachen Sektor. Alle großen PC-Hersteller außer Dell machten in dem Jahr ab 2001 große Verluste von Marktanteil dieses Sektors. Der Sektor hatte kaum Wachstumspotential da eine Sà ¤ttigung am Markt bestand. Diese Sà ¤ttigung kam von den Leistungs-Level der PCs zu diesem Zeitpunkt, denn ihre Leistung war ausreichend und folglich waren die Unternehmen nicht mehr willig hohe Kosten fà ¼r die Herstellung von leistungsstà ¤rkerem PCs zu à ¼bernehmen. Die Kundenwà ¼nsche, insbesondere die der lukrativen Großkunden, à ¤nderten sich. Sie gingen zu einem Komplettangebot à ¼ber. Diese Kunden wollten eine ganze PC Infrastruktur kaufen und nicht mehr nur einen PC. Um das zu gewà ¤hrleisten mussten große Unternehmen wie IBM, HP oder Compaq ihre Angebotspalette stetig ausbauen. Da die Technologien im IT-Markt schnelllebig sind, behalfen sich diese Unternehmen einer schnellen Methode, die der MAs, um sich wichtige Technologien zugà ¤nglich zumachen. Der IT-Dienstleistungssektor welcher am margenreichsten ist wurde von IBM dominiert, da sich z.B. IBM auf die Integration von Netzwerkstrukturen verstand wurden von diesem Unternehmen nicht nur das Know-how sondern auch die spezifische Hardware bezogen. Dieses ist Resultat der Erkenntnis, dass eine effiziente und sehr gut abgestimmte Netzwerkstruktur nur mit abgestimmten Komponenten aus einer Hand preiswert realisiert werden kann. Diese gestiegene Nachfrage von effizienten Netzwerkstrukturen kam durch einen Wandel, die Einfà ¼hrung von Verteilung des Unternehmens à ¼ber das Internet. Die Nutzung des Internets von Kunden, hat einen Wandel im IT-Markt gebracht. Was die Spieler in diesem Markt noch immer zu massiven Verà ¤nderungen Ihrer Angebote zwingt. Mit diesem Kapitel werden die Branchenbedingungen von HP und Compaq wà ¤hrend unserer Untersuchungszeitspanne bis zum Jahr 2003 erà ¶rtert. 5. Die drei Phasen der Fusionen In dem folgenden Kapitel werden die Schritte eines Fusionsprozesses allgemein erklà ¤rt. Der Fusionsprozess là ¤sst sich grob in drei Phasen unterteilen, die chronologisch aufeinander bauen. Sie lauten Pre Merger- , Merger- und Post Mergerphase. Diesen Phasen werden wir, die von uns betrachteten, Erfolgsfaktoren zuordnen. 5.1 Pre Mergerphase Am Anfang des Prozesses steht die Pre Mergerphase. In dieser Phase wird zunà ¤chst eine allgemeine Grundstrategie formuliert. Bei dieser Formulierung geht es darum zuerst die Stà ¤rken und Schwà ¤chen des eigenen Unternehmens herauszuarbeiten und zu analysieren. Somit kann à ¼berprà ¼ft werden, ob das Unternehmen à ¼berhaupt eine Fusion benà ¶tigt. Als Abschluss des ersten Schrittes wird ein strategisches Konzept erstellt, welches die zusammenfassenden Erkenntnisse à ¼ber die Unternehmensanalyse sowie Motive und Ziele fà ¼r die bevorstehende Fusion beinhaltet. Ferner kà ¶nnte man aus dem erstellten Konzept erkennen, welche Bindungsintensità ¤t fà ¼r das Unternehmen besser geeignet wà ¤re. (Grube Tà ¶pfer, 2002: 44ff). Es ist wichtig, dass das Konzept sorgfà ¤ltig bearbeitet wird, da letztendlich der Erfolg oder Misserfolg einer Fusion bereits in dieser Phase bestimmt wird. (Middelmann, 2000: 113) „Diese Kenntnisse erleichtern in der anschließenden Phase die Suche nach dem optimalen Partner, das so genannte Screening (Stegmann, 2002: 32) Dementsprechend werden die mà ¶glichen Kooperationspartner auf einer Liste aufgefà ¼hrt und nach wichtigen Kriterien wie beispielweise potenziellen Synergieeffekten bewertet. (Rà ¶dl, 2002: 39) Fà ¼r die Kandidatenauswahl sollte das Unternehmen einen kontinuierlichen und systematischen Prozess einfà ¼hren, bis sie den optimalen Partner gefunden haben. (Wirtschaftswoche, 2008, Nr. 28) 5.2 Merger- Phase Die Merger- Phase beginnt nach der erfolgeichen Suche eines geeigneten Fusionspartners und verlà ¤uft à ¼ber Verhandlungsstrategien bis hin zum endgà ¼ltigen Vertragabschluss. Um eine endgà ¼ltige Entscheidung zu treffen, ob der potenzielle Fusionspartner wirklich geeignet ist, werden externe Spezialisten wie Unternehmensberater und Wirtschaftsprà ¼fer zur Hilfe gebeten, diese bilden das sog. Due Dilligence- Team. Um die in der Pre Merger- Phase formulierten Ziele der angestrebten Fusion erreichen zu kà ¶nnen, à ¼berprà ¼fen die Spezialisten, wo sich die Schwà ¤chen des eigenen Unternehmens und die Stà ¤rken des potenziellen Partners ausgleichen. Dieses Vorgehen wird in der Literatur als strategisches Fit bezeichnet. (Middelmann, 2000: 114) „ Due Dilligence bedeutet, dass die zu erstellenden Analysen mit hà ¶chster Sorgfalt durchzufà ¼hren sind. Dabei sollen Gefahren, aber auch Chancen des bevorstehenden Unternehmenszusammenschlusses erkannt werden. (Scott, 2002: 14) Kommt das betrachtete Zielunternehmen als Fusionspartner in Frage, so werden in einer weiteren Analyse seine Wirtschaftlichkeit, seine Geschichte und das finanzielle Risiko, das mit der angestrebten Fusion aufkommen wà ¼rde, unter die Lupe genommen. (Middelmann, 2000: 114f) Falls die Analyse ein positives Ergebnis liefert und das Zielunternehmen zu einem Zusammenschluss bereit ist, wird unter der Prà ¤misse die rechtlichen Kartellbedingungen nicht zu verletzen, Vertragsverhandlungen gefà ¼hrt und letztendlich ein Vertrag ausgearbeitet und abgeschlossen. 5.3 Post Merger- Phase Am Ende des Fusionsprozesses steht die Post Merger- Phase an, die sich sehr intensiv mit der Integration und deren Planung beschà ¤ftigt. Die Integrationsplanung orientiert sich an den, in den vergangenen Phasen ermittelten, Potenzialen vom Fusionspartner. Eine vorhergehende detaillierte Planung der Integration ist wichtig, um von den Synergien optimal gebrauch machen zu kà ¶nnen. (Grube Tà ¶pfer, 2002: 45ff) Die Aufgabe beider Unternehmensfà ¼hrungen ist es nun, trotz der gravierenden Unterschiede in den Bereichen wie Kultur und Organisation, ein neues einheitliches Unternehmen zu errichten. Des Weitern mà ¼ssen alle betrieblichen Ablà ¤ufe in der Fertigung und Steuerung, wie Controlling, Rechnungswesen und Personal, aufeinander abgestimmt sein. (Middelmann, 2000: 118f) Nicht zu vernachlà ¤ssigen ist die intensive Zusammenarbeit mit der Personalorganisation, damit Unsicherheit und eine eventuelle Demotivation bei den Mitarbeitern vermieden werden kann. Hier spricht man von der internen Kommunikation im Unternehmen, die gestà ¤rkt werden muss. Neben der internen Kommunikation spielt die externe Kommunikation auch eine sehr große Rolle. Das heißt, dass die Gesprà ¤che und Informationen à ¼ber den Ablauf der Fusion in den Veranstaltungen und Verà ¶ffentlichungen sehr gezielt und vertrauenerweckend sein mà ¼ssen, um die Skepsis von Kunden, Lieferanten und Wettbewerbern gegenà ¼ber dem neu entstandenen Unternehmen abzubauen. (Middelmann, 2000: 118f) Die besondere Schwierigkeit dieser Phase liegt bei dieser Integrationsaufgabe. Gelingt der reibungslose Zusammenschluss nicht oder nur unzureichend, so war die Fusion nicht erfolgreich. Darà ¼ber hinaus sollte das Unternehmen die Dauer des Integrationsprozesses genau festlegen, denn meistens treten die gewà ¼nschten Synergieeffekte der Fusion erst nach mehreren Jahren nach der Fusion ein. (Grube Tà ¶pfer, 2002: 45ff) Wird der Integrationsprozess zu kurz bemessen, so kà ¶nnte die Fusion als Misserfolg ausgelegt werden, was wiederum bà ¶se Konsequenzen, wie z.B. extreme Kursschwankungen in der Bà ¶rse und gar die Aufhebung der Fusion, mit sich bringen kà ¶nnte. Der letzte Schritt dieser Phase beinhaltet die Erfolgskontrolle. Es werden dabei die Ergebnisse der Fusion mit der Zielsetzung der Anfangsstrategie verglichen und eine Bilanz gezogen. Werden Abweichungen und Probleme bei der Umsetzung erkannt, wird versucht diesen entgegen zu steuern. 6. Kritische Erfolgsfaktoren von Mergers Acqusitions 6.1 Due Dilligence Due Dilligence hat eine sehr zentrale Bedeutung in allen Mergers und Akqusitionspozessen. Dieser Faktor kà ¶nnte sogar alleine den Erfolg oder Misserfolg einer Fusion bestimmen. „ Der Begriff „Due Diligence stammt aus den angelsà ¤chsischen Rechtswissenschaften und bedeutet unzureichend à ¼bersetzt „gebà ¼hrende Sorgfalt. Der Begriff hat à ¼ber die juristische Verwendung hinaus bei Mergers Acquisitions Anwendung gefunden und stellt bei heutigen Projekten die Grundlage zur Bewertung und Analyse einer Organisation dar. (Bischoff, Jà ¼rgen M.,2007 : 73 ) Im Wesentlichen verfolgt „ Due Dilligence drei Hauptziele: Endecken und beschreiben der wesentlichen Unterschiede zwischen den beiden Unternehmen und deren mà ¶gliche Auswirkungen Generierung von Integrationsrichtlinien sowie von Ansatzpunkten fà ¼r die erfolgreiche Gestaltung der Post-Merger-Phase Unterstà ¼tzung bei der Kaufentscheidung, der Preisfindung sowie zur Risikominimierung (Bischoff, Jà ¼rgen M., 2007 : 74) Die gewonnen Informationen von Due Dilligence bestimmen letztendlich den Umfang und den Schwerpunkt in der Post Merger Integration. Das Due Dilligence- Team besteht aus externen Spezialisten wie Wirtschaftsprà ¼fern, Anwà ¤lten und Unternehmensberatern und internen Mitarbeitern. Die Unternehmen arbeiten bewusst mit unternehmensexternen Spezialisten, weil die eigenen Mitarbeiter emotional und nicht neutral handeln kà ¶nnten. Das Due Dilligence- Team muss ein hohes Maß an Pflichtbewusstsein mitbringen, damit die Grà ¼ndlichkeit der Bewertung und die Interessen des Unternehmens nicht darunter leiden. Die Unternehmensbewertung sollte explizite Informationen à ¼ber den ausgewà ¤hlten Fusionspartner geben. Die zur Verfà ¼gung gestellten Informationen werden auf Finanzkraft, Unternehmenswert und Synergiepotenziale analysiert. Nach Abschluss der Prà ¼fung mà ¼sste der Auftraggeber der Due Dilligence in der Lage sein, zu entscheiden, ob es sich bei dem ausgewà ¤hlten Fusionspartner um ein geeignetes Unternehmen handelt. Ist dies der Fall so wird à ¼ber Due Dilligence eine Verhandlungsbasis fà ¼r die Entscheidung der weiteren Integrationsschritte zur Verfà ¼gung gestellt. (Blà ¶cher, 2002: 35ff) „ Die gewonnen Informationen werden dem Auftraggeber der Due Dilligence in so genannten Data Rooms zur Verfà ¼gung gestellt. Dabei kann es sich sowohl um elektronische Datenbanken als auch um Akten oder Dokumente handeln (Krà ¼ger, 2000: 157ff) 6.2 Personalmanagement Human Resources ist ein weiterer wichtiger Faktor, der zum Fusionserfolg beitrà ¤gt. Das gut ausgebildete Personal wie z.B. Entwickler , Fà ¼hrungskrà ¤fte und Fachleute gehà ¶ren zum „menschlichen Kapital eines Unternehmens. Da die Mitarbeiter ganz unterschiedlich auf die Verà ¤nderungen wà ¤hrend der Fusion reagieren, sollte das Unternehmen deren Auswirkung im Fusionsprozess nicht unterschà ¤tzen. (Klodt, H. , 2002:S. 106.) Das Humankapital beeinflusst eine Fusion positiv sowie negativ. Einerseits kann es als Motivation fà ¼r eine Motivation einer Fusion dienen, das ist dann der Fall, wenn ein Unternehmen auf der Suche nach qualifizierten Mitarbeitern im Zielunternehmen ist. Andererseits entsteht eine negative Beeinflussung, die ihren Ursprung in persà ¶nlichen Anliegen hat. Verlustà ¤ngste des Arbeitsplatzes oder Gehaltverschlechterung kà ¶nnen das qualitative Arbeiten erheblich mindern und fà ¼hren zu einer Skepsis gegenà ¼ber einer Fusion. Das kann sogar dazu fà ¼hren, dass kompetente Mitarbeiter das Unternehmen verlassen. Um das zu vermeiden, muss sich das Personalmanagement zur Aufgabe machen in direktem Kontakt zu den Mitarbeitern zu stehen. Die Organisation muss in der Integrationsphase Antworten auf offene Fragen haben und einen sicheren und ehrlichen Umgang mit den Mitarbeitern pflegen. Die Aufgaben des Personalmanagements kà ¶nnten folgendermaßen in den jeweiligen Fusionsphasen aussehen: In der Pre Merger Phase muss die Bedeutung des Human Kapitals geklà ¤rt werden, damit das Personal im Verlauf der Fusion ausreichend berà ¼cksichtigt wird. In der Merger- Phase werden sà ¤mtliche Mitarbeiterdaten, Lohnabrechnungen oder Arbeitzeiten ausgewertet und miteinander verglichen. So wird die Kombinierbarkeit der unterschiedlichen Strukturen und Systeme der Personalorganisationen auf eine Vereinheitlichung hin geprà ¼ft. In der Post Merger- Phase muss geklà ¤rt werden, zu welchem Zeitpunkt bestimmte Ziele erreicht werden sollen, ob und wann Umstrukturierungsmaßnahmen oder à ¼bergangsregelungen erfolgen und auf welche Art und Weise die Mitarbeiter zu informieren sind (Pribilla, P.: Personalmanagement bei Mergers Acquisitions, in: Picot, A./Nordmeyer, A./Pribilla, P. (Hrsg.), Stuttgart, 2000, S. 64-67.) Um all diese Maßnahmen durchfà ¼hren zu kà ¶nnen ist eine gezielte und gute Kommunikation unausweichlich. Dies kann à ¼ber verschiedene Wege erfolgen. Z.B. à ¼ber Mitarbeiterversammlungen, regelmà ¤ÃƒÅ¸ige Email und Newsletter oder Diskussionsforen. Ferner sollte dem Angestellten ermà ¶glicht werden, direkte Fragen an das Management zu stellen zu kà ¶nnen. . ( Grube, R./Tà ¶pfer, A., 2002, S. 152.) Schließlich erfolgt die eigentliche Integration durch die Integrationsteams, die nur die Aufgabe haben die Fusion zu koordinieren. Damit eine schnelle gegenseitige Akzeptanz unt

Impact of Planning and Development on Property Values

Impact of Planning and Development on Property Values The first chapter has discussed the issue regarding this particular study in terms of the objectives, scope of study, and significance of study, methodology of study and chapter outline. In this second chapter, the discussion will be mainly on the theoretical aspect of the planning and development in this study. The explanation by literature review will be given in this chapter is as continuity to achieve the objective. The purpose of literature review is to establish the microeconomic factor affecting residential property values. Furthermore, this chapter is also going to discuss the planning and the market, planning system in Malaysia and zoning definition .Apart from that, this chapter will also look at the relationship between microeconomic factor and residential property value and the impact of planning and development towards residential property values. The chapter start with discuss planning and the market and what is the factor affecting residential property value and underline theoretical on property value. The theories to achieve the second objective of this study which is identify factor affecting residential property value based on planning and development. Conclusion of the finding will be given at the end of this chapter. 2.2 Planning and The Market According Peter Cowan (1973), planning is defined as making plans, strategies, interpretation, according to which planning covers almost every aspect of human affairs. Alternatively, Neutze (1987) suggests that planning of land use helps to reduce the level of improbability about the form and level of development that will be suitable and allowable. It raises the supply of residential and to reduce the price of land for development. The main objective of planning is to allocate land uses to meet the economic and social needs of people. Referring to Lean and Goodall (1966), planning and development are subject to change in use of pattern and consequently in value. Social and economic changes will effect on property such as land and building values. Basically the pattern of land use is a signal of competition for sites between various uses functioning through the forces of demand and supply. In an attempt to compete for space at the choice location, some uses are displaced for other potential uses that willing to pay higher prices. In the same element, owners of property will choose location will that offer the greatest advantage on price. Subsequent to Mayer and Somerville (1999) established a structural model describing the relationship between planning regulation and residential market supply. They considered two types of planning regulations, namely impose explicit financial costs on builders such as development or impact fees and those that delay or lengthen the development process. The model shows that in the absence of input prices for land, housing starts are properly specified as a function of changes in the level of house prices, and not as a direct function of the level itself. According Li and Brown (1980) tested the impacts of three types of neighbourhood factors such as aesthetic attributes, pollution levels and proximity on housing values. Li and Brown (1980) findings suggested that housing prices rose due to accessibility but fell due to problems such as congestion, pollution or unsightliness. Based on Monk Whitehead (1996), planning bring impact on the property market by restraining the location and type of house thus increasing property price. 2.3 Planning system in Malaysia Planning activities mainly fall into three broad categories such as forward planning, which mainly involve the preparation and updating of regional strategies, county structure plans, and local plans. According to Bramley, Barlett, and Lambert (1995), development control which involves local planning authorities responding to applications for the right to undertake specific developments from land owners or developers implementation, which involves direct industrial, commercial or housing development by or involving public authorities. As mentioned by Dale and Mclaughlin (1999), there are two basic approaches to regulating how land is developed and used. This can be by way of legislation applying to all properties uniformly, or by way of a permit system in which a property owner must make application at the time of a proposed development. According to Sukuran and Ho (2008), town planning system is principally a system of preventive control of various land uses patterns where upon the controlling authority would not allow any approval for development activity if adverse impact on surrounding environment were visualize. Town and country planning has been called urban and regional planning, land use planning, and city planning or physical plan in different countries. Town planning is therefore not mere layout plans of residential, industrial commercial or recreational activities, but a combination of components and elements which help to make the complete living, working and play environment which determines the quality of life its residents. Above are town planning concepts and principles which have taken into consideration by a planner in the preparation for planning submission for property development in general and specifically in Malaysia. Malaysian town planning system consists of development plans and development control procedures that include consistent matters for planning considerations (Lee et al., 1990 and Bruton, 2007). The development plans under Malaysias Town and Country Planning Act,1976 consists of a Structure Plan prepared at state level and Local plans prepare at local levels The structure plan consists of written statement formulation a States Policy and general proposals for the development use of land in the State. The Structure Plan suggests direction and approaches on how area in the States could be developed in an appropriate and sustainable manner. According to Tiesdel and Allmendinger (2005), have been carried out which provide empirical evidence of the effects of land-use planning on housing development in Malaysia. Empirical evidence of the effects are demand and supply activity, risk and confidence, financial and information. However, those observed evidences did not sufficiently identify the causes of town planning effects. It is necessary identified the causes of these effects so as to enable town planners and decision makers to make the right choice to avoid undesired outcomes. Planning is regarded as a mechanism for the government to exercise its control on the urban development process. There are theories which advocate that land use regulations such as zoning and growth controls may affect property market by constraining supply and increasing demand. 2.4 Zoning Definition Zoning is well known as a key instrument in planning regulation which is environmental regulation in its broadest sense. It establishes the tone of neighbourhood and raises average property values. Zoning is changed from agriculture to another class this can mean a higher property value and more value for your investment. If the class is changed to argriculture then the property value may drop, causing you to lose money on your investment. Even planning systems without specific zoning regulations have contained elements of zoning such as government description and restrictions of rights over land within certain spatial limits (Willhelm, 1962 and Hagman, 1973). In general, zoning has a dual character such as assigning exclusive property rights and as a planning instrument which attenuates private property rights over the most valuable uses of land. Zoning as a non-contractual obligation imposed by town planners was legally introduced into Malaysia by the Town Planning Act 1976. Zoning regulations not only determine the type of use, they also regulate land and structure characteristics such as lot size, set back and building height (Pogdzinski and Sass, 1991). It is important for residential, commercial, agriculture or even industrial area such as manufacturing factory and raw material processing company to have well connected and convenient infrastructure. This will ease transporting of goods, communication or even travelling. 2.2.1 Types of Zoning Zoning seeks to protect public health, safety and welfare by regulating the use of land and controlling the type, size and height of buildings.ÂÂ   Some goals of early zoning codes were to prevent overcrowding and limit incompatible uses. Referring to Raymond (2000), the zoning helps the development areas to have less environmental complaints and higher economic values. According to Ed. Shirelle Phelps and Gale Cengage (2003) there are four different types of zoning districts. The types included in an area will depend on the complexity of the townships or countys development problem. 2.2.1.1 Residential Zoning Residential zoning may be established in several categories depending on the type of development already established or anticipated. Factors that must be considered are density of population , existing and proposed streets and utilities, variety of housing types and variety of housing price groupings. Residential zoning can include single family residences, suburban homestead, or any number of other designation which cover homes, apartments, condominiums mosque, community center and parks. 2.2.1.2 Commercial Zoning Commercial zoning usually has several categories include office buildings, shopping centers, nightclubs, hotels, certain warehouses, some apartment complexes as well as vacant land that has the potential for development into these types of buildings. The availability of parking may affect the type of commercial zoning that is permitted. 2.2.1.3 Industrial Zoning Like commercial zoning, industrial zoning can be specific to the type of business. Environmental factors including noise concerns usually are issues in determining into which industrial level a business falls. Manufacturing plants and many storage facilities have industrial zoning. Certain business such as airports may warrant their own designation. Industrial zoning is often dependent upon the amount of lot coverage which is the land area covered by all buildings on a lot and building height. Industrial zone include manufacturing factory such as light, medium and heavy factories 2.2.1.4 Agricultural Zoning Agricultural zoning is generally used by communities that are concerned about maintaining the economic viability of their agricultural industry. Agricultural zoning typically limits the density of development and restricts non-farm uses of the land. In many agricultural zoning ordinances, the density is controlled by setting a large minimum lot size for a residential structure. Densities may vary depending upon the type of agricultural operation. Agricultural zoning can protect farming communities from becoming fragmented by residential development Mayer and Somerville (1999), they concluded the land-use regulation such as zoning and growth control has significant effects on both of the new development and responsive of local supply to price shock. This showing there will be a price different depending on types of zoning. 2.3 Factors affecting Residential Property Value Property value is dependent upon many characteristics associated with that property such as physical characteristics of property such as location of the site in relation to employment centres and other recreational facilities. In addition the social and economic characteristics of neighbourhood, including the presence of such amenities as view, parks, schools and community services affect value. Rosen (1974) explains that a property includes lots of factors and these are totally show in property prices. Buyers and sellers consider these factors separately before making decision for the purchase and of the property. In order to understand the weighting for the different factors, hedonic modelling was used to explain how each factors made up the prices of the residential market. According to Malpezzi (2003), the method of hedonic modelling can used as calculation in expenditures on housing. Hedonic can be measurable on prices and quantities so as to make possible judgement and predictions of properties between identical and different residential in different areas. Sibel (2008) noted the results of the hedonic model reveal that water system, pool, type of house, number of rooms, house size, locational characteristic and type of the building are the most significant variables that affect the property prices. In order to assess the impact of the planning system on the property market, Hui and Ho (2003) shows the model which investigate the effect of the land-use planning system on house prices in Hong Kong. The model first determines the demand and supply equations to establish the market at equilibrium level. Based on the research, the model analysed planning system variables such as usable floor area (UFA), land supply (LS), residential gross floor area under planning applications (GA), residential zones (RZ) and green belt or open space (GB) and approval rate of planning applications (AR) relationship to house prices (HP). Using stepwise regression for a three-year period the result that the significance of approval rate of the planning applications supports the view that development control maintain the structure of housing supply in a way which may change the equilibrium price of housing. Tables 1 show parts of the literatures that identified attributes influencing property value. Researchers Determinant Joslin, 2005 Location, Age Size Kauko, 2003 Location, Shopping Centers, Highway , Parks, Metro Neighbourhood characteristics Paz,2003 GDP, Level of income, Migration, Construction Activity, Economics Activity Purchasing Power Wong, Hui Seabrooke, 2003 Interest Rate Case Shiller, 2003 Number of Employment Han,Yu, Malone-Lee, Basuki, 2002 Land Area, Parks CBD McCluskey,Deddis,Lamont Borst,2000 Location Blackey,1999 Change in tax policy, Age composition of the population Rate of household formation Meen Andrew, 1998 Income, real interest rates, Nominal interest rates, General level of prices, Household wealth, Demographic Variables, Tax structure Financial liberalization Cheshire Sheppard, 1998 Location, Level of income, Population, Transport, Policy Neighbourhood characteristics Lenk, Worzala Silva, 1997 Number of bathrooms, Number of bedrooms, Age of house, Lot size Basement area, Total area of house, Number of fire place Number of car garages Table 1 : Main Factors Influencing Property Value Source : Ge and Du, 2007 Few factors can affect residential property values such as infrastructure facilities, locational factors, physical factors, legislative factors and demographic factors. 2.3.1 Infrastructure Facilities Viable and good infrastructure will be the basic foundation for development of housing projects. Infrastructure facilities include basic public amenities including transportation which will ensure timely delivery of service and goods. Main amenities such as electricity, telephone and water will affect the residential property value. (Rosman,1988). Comprehensive infrastructure will ensure the value of the property. Lacking this public facility could be construed as a sign of planning deficiency or even planning blight. The model presented in Antunes et al. (2009) assumes that the infrastructure network does not change during the whole planning period. Yet, the topology of the transportation network may have a strong influence on the location decisions. A study of the influence of transport on house prices was examined by So et al. (1997) noted that the major risk of using hedonic price regression is the presence of the multicollinearity between housing attributes and the resulting insecurity of estimates. 2.3.2 Location Factors The factor of location is very important in the determination of property values. Location is very unique as two adjacent sites may command different values depending on underlying factors of accessibility, physical terrain, size and configuration etc. Turner (1990) that the three most significant influences on property value are location, location and location. Royal LePage (2003) emphasises strongly on location and type of mortgage debt financing as principal factors affecting the market value of listed property. Location has a major influence in terms of proximity to centres of interest, traffic congestion, crime levels, level of cleanliness or scenic beauty of the environment, infrastructure services and social amenities, security and planning laws. On the other hand, the type of mortgage can affect the property value either up or down depending on the amount, terms and conditions applicable, rates of interests and method of repayment. Location theory stated that property value decrease when the location is situated far away from town center. Whereas, property which are located within town center are high in demand and the property value will increased. Nelson (1958) emphasis about higher property value exists in good locations. Town center areas activities such as economy, social and property market. According to Khan (1977) stated that land situated near town center have stiff competition usage. The further the location form town centers, the value of property will decrease due to low demand. (Zulkifli. 1995) Kryvobokov (2007) modelled the property market of the most important location attributes influencing values in well-developed foreign real estate markets and use this list in Ukraine. Using experimental evidence of developed property markets, the meta-analysis is applied to extract location attributes and weigh their importance. Results suggest that it is possible to substantiate location attributes, which influence market value for different real estate types. Location factors influences on neighbourhood and access appear to be dominating location. 2.3.2.1 Surrounding Areas and neighbourhood Development According to Babcoak (1932) and Tan (1997), the future of residential property depends on the development planning in the area located. Surrounding areas developments are interconnected especially in economic activities namely Neighbourhood areas. For example, residential property which includes commercial industries will have added advantages especially in the property value. Surrounding development refer to the activities within the neighbourhood areas which could give positive effects or negative effects to a particular property. For example, residential houses located nearby industrial areas will be affected by pollution, noises, congestion and heavy traffic. The value of the residential houses will be lower due to the lack of interest of buyers when such situation occurs. (Zulkifli, 1995). Rosiers et al., (2000) noted that neighbourhood and access factors influences between both series as to achieve most select model design with minimum information loss. Its aim is to explain property prices on the basis of physical and neighbourhood related characteristics. Using hedonic model on property information are located using geodetic co-ordinates, which are integrated into MapInfo GIS. Variety of data such as schools, universities, colleges, shopping centres, remote sensing images, street grids, road, highway networks and power lines are located using relevant system. Results shows that model have greatly improved with location and access factor influence in property values. It suggests that the factor analysis used is highly efficient at sorting access and neighbourhood attributes. The method provides useful approaching the housing market. 2.3.3 Physical Factor Physical factors refer to the physical characteristics of a property. A physical characteristic is different in residential property with other property types. Differences in physical characteristics of the residential property itself may cause differences in value. 2.3.3.1 Building Features In terms of size and number of rooms were perceived as the most significant factors influencing the value of residential property. Next to these is the aesthetic appeal include design, finishes, etc. It was surprising to note that these aspects were accorded high priority over running and maintenance costs and the age of building or obsolescence. This could be as a result of the reported poor maintenance culture of most developing countries (ADB, 2005). Physical elements of property differ from physical elements of another property. Such difference could result towards the value of the property. Physical elements cover land size, floor area, location and type of property. ( Hamid, 2005) Referring to Creedy and Wall (1979) stated that size of lots or buildings could influence the value of property. The size of lots or buildings has positive impacts on the value of property. The bigger floor area of residential houses the higher the value. In norm, bungalow lots or houses are higher in value compared to teres houses due to bigger land and floor areas. 2.3.3.2 Age and Condition of Repair Changes in taste and fashion in new design houses tend to reduce the value of older houses. Besides, the condition of repair must be considered as the cost of putting the property into a satisfactory state of repair now and the cost of maintenance cost in future. Therefore, age and the condition of repair are proved to be negatively related to property value. All else being equal, older houses have experienced greater depreciation (Radriguez et al., 1994; Raymond and Peter, 2000). 2.3.4 Demographic Factors Demographic factors are primary derives of the real estate market. Demographic factors include population growth and income levels. 2.3.4.1 Population Growth Refer to Tse and Webb (1999) the growth of urban population through migration and urbanisation. Increase of population whether locally or migration of others will increase the economics of an area. Such situation will increase the residential property value when the demands exceed supply especially in goods and services which will encourage investors to participate actively in an area. Increase of population in an area will result in the demand for land. When there is an increase of population in an area, the economic activities will increase in tandem with the demand (De Wang, 1999). Increased economic activities will result in the demand for residential property market. Current usage of land will be converted into intensive land usage. The changes of intensive land usage will increase the economic activities to be productive and resulted in the property market value to rise due to the increase of population. 2.3.4.2 Income Levels According to (Gallimore, Fletcher and Carter, 1996) households which have the same tastes and income tend to live within the same area. Therefore the size of households, income, age, education levels and the availability and cost of mortage , financing have to be included in affecting the types of housing and the values. High-income residents will seek out a part of city that may offer leisure facilities, parks, amenities and the most convenient form of transportation and infrastructure. This also expose that the proximate and relevant influences on the property are related to the same influences operating on other properties in the neighbourhood. Spatial segregation refers to the residential separation of sub-groups within a wider population which could be associated primarily with racial groups, ethnicity, religious beliefs or income status (Johnston et al., 1983). 2.3.5 Legislation Factors Value of properties is determine by the importance of properties itself. A person would be subject on buying properties mainly is because subject is aware of the importance of properties to self. The right of property owner to be guarenteed with the enforcement of law. However these rights are controlled by the provisions of the law. This will indirectly or indirectly affect the price of property. Among the legal provisions that affect the property values are restrictions interest and tenure of land. 2.3.5.1 Restriction Interest Restriction interest is bind on right upon the importance which contained in the ownership document. Restriction interest is introduced by state government. There are two types of interest towards ownership right, bumiputra and non-bumiputra. Bumiputra mean person who owned Malaysia citizenship and included in group of original in Malaysia and Malay race. Restriction interest bring meaning where lot from bumiputra only can be exchanged towards another indigenous and not to other. Properties without this restriction can be freely exchange to others. Bumiputera lot suffer less affect from property value comparing to property with no restriction interest. 2.3.5.2 Tenure of Land Tenure of land had been distributed into two categories such as Freehold and Leasehold. Duration for each category are 99 years , 66 years and 20 years. Tenure of land showed that it is importance and owner rights in the property. There are two types of tenure such as Freehold and Leasehold. Freehold means the owner can have their property for whole lifetime. Besides that, leasehold is given limited years to the owner to own the property. Freehold tenure has a higher of value in property. (Norhaya, Dzullkarnian, Ibrahim et.al, 2010). Referring to Kestens et al. (2006) introduce household-level data into hedonic models in order to measure the heterogeneity of implicit prices the previous tenure status of the buyers. 2.4 Conclusion Based on discussion that have been made, clearly shows that there are many factors that affect residential property values in general can be divided as infrastructure facilities, locational factors, physical factors, legislative factors and demographic factors. Each factor contributed to their forming value in the property. Therefore, the research will focus on impacts of planning and development in residential property value. Overseas literature considers that planning also has a significant impact on housing market by affecting locations, neighbourhood, environmental and population growth. Based on discussion that have been made, clearly shows that there are many factors that affect residential property values in general can be divided as infrastructure facilities, locational factors, physical factors, legislative factors and demographic factors. Each factor contributed to their forming value in the property. How do these factors really contribute to Senai development? In order to go international at a fast phase, infrastructure is a must. Therefore, a huge reserve area in Senai is place under infrastructure; ease of excess from factory to the world is the main concern of government. Although named as transit town, but most of the area is not yet under development until federal government decided to expand its potential. With the amount of land and strategic location at south, it can be our second industrial doorway to other country other than Penang. This will evenly distribute industries among north and south of Malaysia. Modern design with end edge technology is the concept for the coming SHTP (Senai High Tech Park), this will be one of the physical attraction for investor.

Toni Morrisons Beloved - Identity Essay -- Toni Morrison Beloved Essa

Review of "Beloved: A Question of Identity"  Ã‚   In her essay "Beloved: A Question of Identity," Christina Davis discusses the issue of identity from an historical perspective, a textual perspective and an authorial perspective. She looks at the text in comparison to the slave narrative, explores how the text itself expresses issues of identity and describes Morrison's choices of authorship and their contribution to identity. Her exploration of the theme of identity calls upon the treatment of self-image, particularly in the context of slavery; and outward image as expressed by naming and other white descriptions of the black characters. Her organization of information is historically sequential, ordering elements as they occurred rather than in the narrative order of the novel. Davis' introduction seeks to place the novel in the context of a slave narrative. However, she identifies several departures from the traditional form. Morrison creates a narrative which focuses on the individual rather than the collective. The novel favors the perspective of the oppressed to that of the oppressor. Davis identifies two ways that Morrison accomplishes this perspective. First, she describes not the "horrifying statistics of slavery" but instead seeks to explore "what it felt like" (151). This reorientation of topic is accomplished by taking "the individual out of the mass of statistics" (151). The second major device is the manner in which Morrison has "displaced the tone of the prose from the third person to the first" (151). Davis acknowledges that while the novel is not narrated primarily in the fist person, the main perspective is that of Sethe, who is gifted by Morrison with her own voice. The first major division of the ess... ...rison's authorial choices. The first is "the reclamation of black history" by the characters (155). By giving voices to enslaved characters, Morrison gives "them back their own history as human beings" as well as reminding the reader of that history (155). The second major effect is the fullness of character that results from Morrison's "mastery of the voices she speaks through" (155). Davis cites the sections of the novel which are delivered in the first person as particularly effective in producing the identities of Sethe, Beloved and Denver, the speakers. She identifies the chapter in which all three speak together as "the symbolic peak of the interaction among the three women and their search for identity" (155). Davis ends by praising the authorial skill of Morrison, as shall I. Works Cited: Morrison, Toni. Beloved. New York, Penguin Books USA Inc, 1988.

Oedipus The King :: Oedipus Rex, Sophocles

Oedipus’ Hamartia Aristotle once said that a hero’s downfall must be a result of some tragic flaw within the character. This flaw was known as hamartia in the Greek world of Aristotle. Since Aristotle greatly admired Oedipus the King, many people believe that Oedipus must have had a prominent and complex hamartia. Discovering Oedipus’ hamartia within the play is not an easy task. In fact, it is impossible to point out Oedipus’ hamartia since I do not believe that he has one. Everything that he says or does throughout the play is justifiable in one way or another. There is always some logical explanation behind his thoughts and actions and, thus, Oedipus does not have a tragic flaw in his character. There are a number of different points that one can analyze and claim to be Oedipus’hamartia. For instance, some people may examine Oedipus’ bad temper and label this as the flaw that leads to his downfall. Oedipus becomes enraged at Teiresias’ claim that he is the one who murdered Laius and he begins to believe that this is an attempt by Creon to overthrow him. Despite Oedipus’ anger in this situation, his reaction can be justified. First of all, Teiresias’ allegation that Oedipus is the killer is absurd to him since he would never murder a king. Also, it seems logical that Creon would be behind such a scheme since he would be next in line to the throne. Therefore, Oedipus’ bad temper cannot be considered his hamartia. Another characteristic of Oedipus that some people tend to refer to as his hamartia is his murderous temperament. One can see this side of Oedipus when he recounts the story in which he killed the old man in the wagon as well as a few of the man’s servants. However, Oedipus’ murderous rage was completely justified in this situation. After all, the old man and his servants were trying to throw Oedipus off the road by brute force. Oedipus, in a sense, was merely defending himself from these men and killed them only out of self-defense and rage. Hence, Oedipus’ murderous temperament cannot be his tragic flaw. Some people even believe that Oedipus’ hamartia was carelessness. Surely anyone told about killing his father and sleeping with his mother would have avoided killing any man and sleeping with any woman. Oedipus, on the other hand, did kill a man and he did sleep with a woman.

Argumentative Position Paper

| | | | | | The â€Å"Weak† Tea Party Movement Curt D. Collins Bellevue University Professor Wright EN102-T301 Composition II October 13, 2012 The â€Å"Weak† Tea Party Movement On Feb. 19, 2009, about a month after President Barack Obama’s first day on the job, CNBC host Rick Santelli railed against the President’s proposed bank bailout and stimulus package on the floor of the Chicago Mercantile Exchange calling it an effort to help those who did not, or could not, help themselves (Tea Party Movement, 2012).Santelli sanctioned â€Å"another tea party† similar to the American Revolution movement of the same name, and almost immediately, the movement gained momentum. By autumn, hundreds of Tea Party groups organized efforts in every state (Tea Party Movement, 2012). A year later, the movement influenced Republican party politics in the 2010 congressional elections (Tea Party Movement Evolves, 2012). With all the hype and candidate activities grabbing headlines for the past two years, the Tea Party Movement has fallen back to the shadows of the alleys that seldom get noticed.The goals of the movement initially were to remove Republican Party officials who were not living up to the conservative standards adopted by the movement and stop the Democratic economic policy supporters from carrying out the bailout plan. Although the Tea Party Movement was effective in 2009 and 2010 at trying to accomplish it’s goals, the lack of a substantive spokesman, little to not political pull, and sporadic support has watered down the efforts of the movement to an almost complete halt in 2012. Therefore, the Tea Partiers have lost their chance to evoke change in the government. Since the Tea Party Movement ideals do not support the President’s party, Democrats view the movement as a road block to progressing the current administration’s plans for economic recovery. Conservative thinkers, on the other hand, see the Tea Partiers as throw back hardliners who will stop at nothing to achieve the success that comes with defeating the Democrats in elections, passing an economic strategy that supports a more conservative framework, and purging the Republican party of so called conservatives that really don’t practice what they preach.This kind of focus and drive is a good thing. The founding of the United States of America is based on the idea that we all have the right to speak out against the current government. Conflict is healthy. With conflict comes resolution. The resolution brings a new idea that best suites the situation. Theda Skocpol, Victor S. Thomas Professor of Government and Sociology Harvard University, cites three main forces behind the movement’s success: â€Å"grassroots activism, funding from wealthy conservative advocacy groups, and publicity from right-leaning broadcasters† (Skopcol and Williamson, 2012).The movement has all the ingredients of becoming a very viable and valid contender for fighting the good fight, according to some. Newt Gingrich, former Speaker of the US House of Representatives, stated the following in a July 29, 2010 interview with Newsmax. tv:†First of all, I think the Republican Tea Party will beat the Democratic Socialist Party†¦ Second, I like the Tea Party movement†¦ I think the Tea Partiers I meet with around the country†¦ re serious people studying the Constitution, trying to find a way to get back to balanced, limited government with balanced budgets and with much less power in Washington, and I approve of their general direction. † July 29, 2010| The key point to take away from Gingrich’s statement is that the Tea Party is trying, without success, to invoke principles that have do not have widespread appeal. In cases like this, a spokesman for the Party Movement would be most beneficial.Rick Santorum, former US Senator (R-PA), stated the following during the June 13, 2011 CNN Republican presidential debate in Manchester, NH, available on CNN. com: | â€Å"I think the Tea Party is a great backstop for America. I love it when people hold up this Constitution and say we have to live by what our founders laid out for this country. It is absolutely essential that we have that backbone to the Republican Party going into this election. † June 13, 2011 | Although Santorum supports the ideas the Tea Party Movement endorses, he does not support the movement.Tea Partiers fight for what is theirs. Most are older citizens that rely on Social Security and Medicare, two things that the Democratic economic strategy will substantially reduce fiscally. â€Å"They think that government spending is OK as long as it’s for people who’ve worked all their lives and earned the benefits,† Skocpol said. â€Å"They speak of themselves as hard-working Americans who deserve all they’re getting from society. † The Tea Party Movement does not support pro grams like Pell Grants, food stamps, and Medicaide.In general, the movement members do not feel an obligation to support groups like immigrants, people of color, and young people. Opposition from these groups has contributed greatly to the demise of support for the Tea Party Movement. The mantra for Tea Partiers is that of a generation who worked hard for the benefits that they currently have and damned be anyone who tries to â€Å"steal† from that pot (Skopcol and Williamson, 2012). This ideology is slowly turning away a whole generation.Without support from these less mature individuals, the party is losing popularity, fast. The beginnings of the movement may have be admirable, however, its growth and victories are a result of donations from conservative groups and exposure due to making headlines (Skopcol and Williamson, 2012). â€Å"Conservative political action committees saw a good thing erupt in 2009, and joined with right-wing media leaders in cheerleading, pushing, leveraging the grassroots protesters to effect change within the Republican Party,† Skocpol said. Their goal was to move the GOP further to the right in policy terms, and to prevent moderates from getting elected, and from compromising with Democrats if they got there. The right-wing media helped to give scattered protesters and groups the sense that they were in something big together and could affect national politics. † Although Republicans benefitted from Tea Party influence by achieving electoral success in 2010 and may again in 2012, Skocpol says that the movement creates major problems for the Republican Party as the years go on (Skopcol and Williamson, 2012).One of the problems being that the popularity of the movement might polarize supporters, therefore, the support will die in order to facilitate â€Å"acceptance† in the party as a whole. The more likely result is that Tea Party supporters will come into the fold of the Republican Party, abandoning the ideals and issues once fought for strongly by the movement. Mitt Romney, former Governor of Massachusetts, stated the following during the NBC News/Politico Republican presidential debate held at the Reagan Library in Simi Valley, CA  on Sep. , 2011, available at NYTimes. com:| â€Å"I believe in a lot of what the Tea Party believes in. The Tea Party believes that government's too big, taxing too much, and that we ought to get — get to the work of getting Americans to work. So I put together a plan with a whole series of points of how we can get America's economy going again. Tea Party people like that. So if the Tea Party is for keeping government small and spending down, and helping us create jobs, then, hey, I'm for the Tea Party. † Sep. 7, 2011|The real Tea Party Movement is not a political party. How can a movement endorse anybody? It can’t. This is a big factor for why interest and momentum is dwindling with the movement. One reason for the lack of leade rship: Romney, Gingrich, and Santorum have each taken political and economic contrary stands on issues that the Tea Party Movement supported. Gingrich and Romney both supported a bank bailout in 2008, as well as supporting health insurance incentives years earlier (Skopcol and Williamson, 2012).Santorum, the most conservative of the three, voted against several projects that received Tea Party support during his time in the Senate (Skopcol and Williamson, 2012). Looking more like a senior citizens brigade than a force to be reckoned with in the political arena, the Tea Party Movement is waning. â€Å"The Tea Party movement is dead. It’s gone,† says Chris Littleton, the cofounder of the Ohio Liberty Council, a statewide coalition of Tea Party groups in Ohio (The Tea Party Movement Evolves, 2012). I think largely the Tea Party is irrelevant in the primaries. They aren’t passionate about any of the candidates, and if they are passionate, they’re for Ron Paul . † Ron Paul has no support from any party and is not considered to be a contender for the office of the President. The Tea Party Movement will not influence government as long as it continues to repel support of minority groups, cling to issues that affect only a fraction of the population, and fail at choosing a spokesperson who can be rallied around to act as effective leader for the group.References Skocpol, T. , and Williamson, V. , (2012). The Tea Party and the Remaking of an Conservatism. Oxford; New York: Oxford UP. Print. Tea Party Movement. (2012). In The New York Times. Retrieved from http://topics. nytimes. com/top/reference/timestopics/subjects/t/tea_party_movement/index. html Barrow, W. , (2012). Tea Party Movement Evolves, Achieves State Policy Victories. (2012). In Huffington Post. Retrieved from http://www. huffingtonpost. com/2012/08/12/tea-party-movement_n_1770452. html

Is Batman a Real Superhero

Is Batman a real super hero, according to a lot of people they would say he is not and when you would ask for a reason why not; they will usually always give the same reason that he can’t be one since he has no super power. But I’m writing this paper to show that a superhero isn't necessarily defined by his powers, but rather, his zeal for fighting crime and his innate ability to do so. Batman may not have super human powers but he shares every other trait that other super heroes have that define them. As well another example of why we may consider Batman to be a real super hero is Lex Luthor, Lex does not have any super powers but he is defiantly a super villain, thus with him being a super villain how could we not agree to Batman being a super hero. Interestingly, the term â€Å"superhero† has been traced back to its first appearance in a 1942 story by Joe Simon and Jack Kirby, when it was used to describe the costumed character â€Å"the Guardian,† who also had no â€Å"super-powers. The term â€Å"super† is a coinage of the 1920s, when it came into vogue as a contraction of the word â€Å"superior† and should not be construed as always meaning something beyond the ability of ordinary humans; â€Å"super† does not have to be synonymous with â€Å"impossible. † Note that in the link below, it is clearly stated that â€Å"characters need not have actual superhuman powers to be deemed superheroes. † Batman is also served up there as an example of one of the world's best known â€Å"superheroes,† and he is the prototype of scores of costumed heroes who have no superhuman powers. Clearly, Batman qualifies as a â€Å"superhero† and opinions to the contrary are exactly that, mere opinions, and may be ignored with a clear conscience. Webster defines being a super hero as a type of stock character possessing â€Å"extraordinary or superhuman powers† and dedicated to protecting the public and has some visual characteristic (typically an outfit) that makes him/her identifiable. Batman defiantly fits this definition to the teeth, since he has dedicated his whole (fictional) life to the protecting the citizens of Gotham City, and everyone out there has to admit he has some pretty extraordinary powers. But what else defines as super hero: A strong moral code, which will include being willing to risk one’s own life in order to help someone help and expecting nothing in return. Such code can also include the refusal or strong reluctance to kill or wield weapons. Batman has never killed anyone and doesn’t use guns, he uses gadgets and stealth to subdue his enemies and then make sure they are handed over to the police force. Also a strong motivation and a sense of responsibility with a hint of some personal vendetta against criminals, like with Batman’s vendetta against the people mugged and shot his parents when they were coming out of their play they were attending. A super hero must also have a secret identity that will protect their family and friends from being the target of his enemies. Batman doesn’t have a lot of close friends but the ones he does he wants to protect from villain’s such as the Joker and the Riddler. Heroes must also have a distinctive costume in order to conceal their identity from the public. They must also have an underlying motif that resembles the heroes name, personal effects and other aspects the character has come to represent, for example Batman takes his name obviously from a Bat, operates at night designs all of his gadgets with a â€Å"bat† prefix, and most importantly the â€Å"batmobile† tends to resemble a bat. Heroes must also have a supporting cast of recurring characters in there comic books, though not all of them will not know the super heroes secret identity which will make the heroes personal relationships with them complicated by the dual life. One of the most important parts of heroes is their enemies they fight. Super heroes will usually start by fighting run of the mill villains with no exceptional gifts, but then later on usually super villain’s will start to appear, and in many case the hero is actually responsible for them coming into to play. Like how Batman was there for the accident that created two face, Batman may not have been able to stop it but that sure won’t stop two face for blaming Batman. Also archenemies are the most important villain to superheroes as they are usually the exact opposite and just as powerful as or even more powerful than them. Batman’s greatest enemy would most likely have to be the Joker, as he is the foil to batman, as Batman is dark, quiet, and grim while the joker is colourful, loquacious, and very flamboyant. The hero will also need some sort of job with minimal supervision or independent wealth to fund his deeds since he keeps his identity secret there is going to be no way he’s going to be paid for what he does, Batman got the lucky end of the stick on this one since he is the richest super hero out there he will have no problem funding is exploits. Heroes will also need to have some sort of headquarters or base of operations, usually hidden, in order to prepare for some sort of mission or to come back to store all their gear. The last thing that defines a super hero from an ordinary Joe is the back story that explains the circumstances that the â€Å"hero† acquired his or her abilities and as well the motivation behind wanting to help the public and just help themselves. Many origins will usually include freak accidents or tragic events, like batman’s parents being shot. Now for all of you out there who still don’t believe that someone without super powers could actually be a super hero, hasn’t looked into the actual science of being batman, I’m not saying batman has super human powers but what he does and the frequency that he does it could not even be attempted by todays strongest athletes. Some question that needs to be asked is how much energy Batman uses in a day and how much food must he eat to give him that much energy. In the book â€Å"becoming Batman† by E.  Paul Zehr, Batman would expend about 4,000 calories a day which is comparable but still more than how much Tour de France racers use when competing in the race, but wait Batman does this everyday not just once a year. So in order to keep this going he must intake 4,000 calories a day in food, though it can’t just be any food it must be carefully monitored to contain 15% fat , 60% Carbohydrates and 25% protein, in order to maintain the physical fitness he needs to keep fighting crime. Now let’s talk about his crime fighting abilities, we all know that Batman is extensively trained in the martial arts, but how long would it take you to become a master in them, and how many does Bruce Wayne know, according to â€Å"Becoming Batman† Bruce knows more than 3 different styles of martial arts. Now in order to master a skill there is three steps you must go through; cognitive, associative, and automatic. Cognitive is the first step and this is where the Bruce would use information to develop a plan, require a high level of concentration, and unable to manage small details or changes in the environment. The second step is associative which refines the movements, gradually manages to change in the environment and doesn’t attend to every aspect of movement. The final step is automatic and here you require no cognitive attention to movement, get consistent performance, and can easily adapt smoothly and easily to different environments. Now Batman has mastered more than 3 different styles of martial arts (by roughly the age of 20-30), that seems a little bit far from imaginable since Batman is very intelligent is shows a sign that he was well educated and with education how can you find the time to master more than 3 different forms of martial arts. Also another main aspect to Batman is the fact that he is out every night being batman and getting into fights, how can someone that fights pretty much every night keep it up. He would have to make sure that he never broke a bone, and in his line of work that would be incredibly difficult, he would have to do everything perfectly and all regular humans are incapable of being perfect, but Batman’s not. Batman share more than enough of the commonalities of the fictional characters classified as â€Å"superheroes† to claim the pedigree. He wears a costume and keeps his real identity a secret; he has a hidden headquarters; he uses special equipment, ranging from miniaturized devices he keeps in his utility belt to vehicles like the batmobile and the batplane; he has the legal status of a deputy; he associates with other so-called superheroes and is a founding member of the Justice League of America, a team of â€Å"superheroes†; he often fights individuals who qualify as super-criminals; he defends common people and will risk his life to protect the common man; he can be summoned by the police through the use of a special signalling device (the â€Å"bat signal†); he has special skills which he uses to fight crime, ranging from a mastery of certain fighting skills, to the use of disguises, to the mastery of certain forensic sciences, to a unique understanding of psychology of the criminal mind, and he is a very good detective. Batman also answers to a higher moral code than does the average man.