Caravaggios The Denial of St. Peter

Caravaggios The Denial of St. Peter   Ã‚  Ã‚  Ã‚  Ã‚  In approximately 1610, Michelangelo Merisi, referred to today as Caravaggio by virtue of his hometown, painted his The Denial of Saint Peter, an oil-on-canvas depiction of St. Peters renunciation of Jesus and disavowal that he was a disciple of Christ. Though it passed through the hands of several cardinals over the centuries,[1] the work itself was not commissioned by any religious authority, and was entirely conceived by Caravaggio. It currently is on display at the Metropolitan Museum of Art.   Ã‚  Ã‚  Ã‚  Ã‚  The most important aspect of the work stems from its era: Caravaggio painted in the early Baroque period, a time in art largely focused on emotion, drama, and realism in the portrayal of humanity, as opposed to the idealized, somewhat emotionless scenes of the Renaissance.[2] The Denial of Saint Peter is a prime example of this trend, for, as opposed to depicting idealized human forms in a heavily structured and adorned setting, it portrays just three figures, all of whom are imperfect, human, and express clearly visible emotion. While Caravaggios subject matter is far from unique, his distinctive approach toward its illustration is revolutionary with respect to earlier Renaissance art; of course, it resembles other works from the Baroque period, which Caravaggio himself helps to usher in. The drama and emotional anguish of Caravaggios work is apparent even upon first glance. Upon examining the figures in the work, we see that Saint Peter is far from flawless and virtuous; instead, he is easily intimidated by a soldier as he frantically distances himself from Christ, pointing at himself incredulously as if to appear utterly surprised at the notion that he is somehow associated with Jesus. Peter lacks the saintly character attributed to Biblical figures in earlier works, for he has deeply furrowed brows and looks pale and sickly in the harsh light shining on him-in fact, he more closely resembles a cowardly man eager to appear common and nondescript. The woman and the soldier have powerful emotional elements in their depictions as well-the soldier appears threatening, seemingly warning Peter of the consequences of allying with Christ, while the woman bears a stern expression that signals her certainty of Peters solidarity with Jesus. Finally, the sheer size of the figur es is noteworthy, for it places all emphasis on them and on no other point in the painting. Caravaggios stylistic effects, in addition to the figures expressions, also lend the painting a dramatic air. The first and most obvious such technique is his use of lighting: specifically, the work has extreme contrasts between light and dark, which, due to their harsh appearance, convey an almost theatrical impression to the viewer. In fact, Peters head is fully and strongly illuminated, while the soldiers visage, though just opposite his, is barely visible; the womans face, furthermore, is alternately obscured and lit-with little or no attempt to mediate the two extremes. This consistent use of dramatic lighting, which in this case radiates only from the left of the painting, is termed â€Å"chiaroscuro†; in fact, Caravaggio used it so often that his version of the technique is labeled â€Å"tenebrism.†[3] The effect that these techniques have on a work is profound, for they create a powerful sense of tension in the piece because of their stark, almost jarring appear ance. In The Denial of St. Peter, this effect is quite noticeable, for by illuminating Peter, but not the soldier, the sense that Peter is being interrogated and pressured becomes heightened; it is almost as if a spotlight is on him, coercing him into giving a reply. Another important stylistic note is the varying level of detail Caravaggio applies to parts of the work. The background is not at all important, as is demonstrated by the broad, carefree, almost haphazard brushstrokes and lack of any remarkable detail behind any of the figures; by contrast, Peter, the soldier, and the woman are all painted with exceptional detail, exemplified by the soldiers helmet, which is ornately and intricately decorated, and Peters face, which has distinct furrows and creases. This again serves to highlight the fact that the three figures and their emotional tension are the central features of the work and that all else is ancillary. Caravaggios work closely mirrors others of the Baroque period. Spanish artist Juan de Valdà ©s Leals Pietà  , painted between 1657 and 1660 and currently on display at the Metropolitan,[4] features many of the same techniques Caravaggio uses to enhance the dramatic effects and emotional impact of the work. The use of chiaroscuro is immediately apparent, for the Virgin Mary and Christ are both well-lit, while the background is mostly darkened. As in Caravaggios work, this element lends the work a powerfully dramatic aspect and compels the viewer to focus on the subject matter and its intense psychological themes. Furthermore, Christ is an emaciated, bloodied figure, as the stigmata bleed profusely in the painting; Leal portrays him as a tortured, weakened man, unlike prior depictions of a handsome, nourished Christ. He has a gaunt, starved body, reflecting the anguish Leal wishes to convey, and the Virgin Mary looks on with a combination of anger and pain, a radical departure from the mostly serene Mary seen in earlier works. The overall tone of the work is one of anguish, a theme reinforced by Leals manipulation of light and the graphic, disturbing depiction of Christ. Renaissance works, while portraying similar religious subject matter, are radically different from Caravaggios painting and other Baroque art. Raphaels Pietà   of 1503, part of the Colonna Altarpiece and currently in the Gardner Museum,[5] while depicting the very same subject as Leals work and certainly portraying grief and suffering, conveys an entirely different emotional character and lacks the psychological depth seen in either Caravaggios or Leals piece. Of first note in Raphaels Pietà   is the size of the figures; they are proportionately smaller when compared with Caravaggios, somewhat reducing their impact on the viewer. Additionally, the lighting in the painting is mostly uniform, and thus lacks the striking contrasts found in Caravaggios work that impress the viewer with emotional immediacy. The figures themselves also lack any poignancy. The Virgin Mary is largely expressionless, and while a man to the left seems to lament the death of Christ, the level of drama and anxiety seen on St. Peters face is missing. Also of note is the fact that Christ appears as a nourished, healthy figure, and thus does not inspire the viewer with grief or sorrow. Thus it is apparent that this work portrays an idealized scene suited perfectly to Renaissance standards, and therefore has little in common with the flawed, emotional figures of Caravaggios or Leals work. In short, Caravaggios large, overtly sentimental figures, combined with his extreme uses of light and lack of attention to background detail, produce a work that impresses the viewer with its passion, tension, and dramatic tone. As we can see, this is entirely consistent with Baroque art, for the similarities with Leals work are immediately evident. Caravaggios Renaissance predecessors depict idealized and romanticized figures that lack the emotional involvement suitable for their subject matter. By contrast, Caravaggio strives to represent and amplify human tensions and imperfections, achieving a compelling realism. Sources Stokstad, Marilyn. Art History. Revised Second Edition, Volume 2. Upper Saddle River, New Jersey: Pearson Education, 2005. â€Å"Caravaggio (Michelangelo Merisi). The Denial of Saint Peter (1997.167)†. In Heilbrunn Timeline of Art History. New York: The Metropolitan Museum of Art, 2000-. http://www.metmuseum.org/toah/hd/crvg/ho_1997.167.htm (March 2010) Raphael. Pietà  . 1503-1505. www.gardnermuseum.org/collection/raphael_p16e3.asp (March 2010) Leal, Juan de Valdà ©s. Pietà  . 1657-1660. http://www.metmuseum.org/works_of_art/collection_database/european_paintings/pieta_juan_de_valdes_leal/objectview.aspx?collID=11OID=110002315 (March 2010) â€Å"Caravaggio (Michelangelo Merisi). The Denial of Saint Peter (1997.167)†. In Heilbrunn Timeline of Art History. New York: The Metropolitan Museum of Art, 2000-. http://www.metmuseum.org/toah/hd/crvg/ho_1997.167.htm (March 2010) [2] Stokstad, Marilyn. Art History. Revised Second Edition, Volume 2. Upper Saddle River, New Jersey: Pearson Education, 2005,p. 722. Stokstad, Marilyn. Art History. Revised Second Edition, Volume 2. Upper Saddle River, New Jersey: Pearson Education, 2005,p. 735, 744. Leal, Juan de Valdà ©s. Pietà  . 1657-1660. http://www.metmuseum.org/works_of_art/collection_database/european_paintings/pieta_juan_de_valdes_leal/objectview.aspx?collID=11OID=110002315 (March 2010) Raphael. Pietà  . 1503-1505. www.gardnermuseum.org/collection/raphael_p16e3.asp (March 2010)

Virgin Corporate Strategy

VIRGIN’S GROUP CORPORATE STRATEGY DIVERSIFICATION 1. Introduction The Virgin Group is one of Britain’s biggest and successful empires in the 21st century. The company has successfully incorporated a great number of diverse industries under the Virgin brand. This includes travel, mobile, financial services, leisure, cosmetics, retail, and music businesses. Virgin has been able to dominate the British market and has therefore continued to rapidly expand into other regions such as the United States, Canada and Australia. The enterprise was founded by Sir Richard Branson in 1970 as a simple mail-order record retailer and has grown into one of the most prosperous business empires in the business world. To date, the Virgin Group has globalized and established in over 200 small to mid-sized firms, employing over 25,000 people. As a result, the company has exceeded over $7 billion in revenue in 2002. Each one of Virgin’s 200 firms operates as a single entity. Branson either holds ownership of a firm as CEO, or has a minority or majority stake. The Virgin Group does not hold a hierarchal presence within the empire, which allowed its various subsidiaries to operate in an autonomous manner. 2. Richard Branson: The strategic thinking As the creator of Virgin and a famous personality around the world, Richard Branson has created an entrepreneurial culture that is carried throughout the Virgin group of companies. His anti-corporation and anti-bureaucracy spirit resulted in a flat organizational structure with transparency and quick communication; his loyalty and care for friends let to an organization with great employee focus, and also attracted some of the best people to work for him for a moderate salary. Looking into his kind of strategic thinking, we can see that it is characterized by having a strong relationship with risk. His attitude towards risk is explorative, willing to take risks in order to enter into completely new businesses that the company knew nothing until now. In addition to this, their type of thinking, as an mage of their leader, is characterized by being intuitive, requiring no systematic risk analysis, based largely only in the rapid perception of alternative strategic intuition. This kind of thinkers are formerly known as entrepreneurs but in this situation combined with a strong social component as Sir Richard Branson often uses himself to convey the group’s message into the media or as a tool to promote the group’s brand. Is this kind of strategic thinking that explains the high level of unrelated diversification of the group that we are exploring in this report. 3. Organizational Analysis and Corporate Strategy Values The Virgin Group’s overall brand identity is built upon the founder Richard Branson’s philosophy which states that â€Å"if you keep your staff happy then the customer will be happy, and if you keep the customer happy then the shareholders are happy†, â€Å"shape the business around people†, â€Å"Build don’t buy†, â€Å"Be the best, not the biggest†, â€Å"Pioneer, don’t follow the leader† or â€Å"staff first, then customers and shareholders† are some the main guidelines of Richard Branson and we can see it as some of the company values. This underlying belief transcends into each one of Virgin’s subsidiaries and into each individual organizational culture. This is evident in the way in which members of the Virgin group interact with one another, as it is apparent that all members at Virgin agree strongly about certain beliefs, values, and assumptions, which are reinforced within the company. Virgin has continually retained a strong belief that it is their employees who: deliver brilliant customer service; give the company its personality, shape its culture, and innovate. They are viewed as Virgin’s greatest asset and as such, management believes that employees should be treated with respect. Management looks after their employees’ welfare and allows them the freedom to grow and be themselves. Virgin actively encourages personal expression, whether it is in their speech, creative and conceptual thinking, or dress code. It is these fundamental values and beliefs that have allowed Virgin to thrive in such a competitive environment, challenge new opportunities and excel in its markets, while still continuing to operate with integrity. As we know the core competencies of a company should meet three requirements: -Significant value creation for the clients Difficulty of imitation by competitors -Access to new markets As we look into Virgin we can see that each subsidiary shares a set of values that are continually strengthened: value for money, excellent quality products, brilliant customer service, innovation, competition and consistently having fun throughout the process. Virgin would only put its name to a project if it met four out of five criteria: it must be innov ative, challenge authority, offer value for money by being better than the competitors, be good quality, and the market must be growing. In such a large conglomerate empire as the Virgin Group, these broad set of fundamental beliefs continually work to strengthen the company’s brand as well as its culture. 3. Corporate Strategy formulation: Diversification Entering new markets using the brand Virgin is the strong asset of the group. Diversification is the name of this process in which Virgin leveraged his brand recognition as a form of growth strategy for the company. It seeks to increase profitability through greater sales volume obtained from new products and new markets. There are two kind of reasons for which a company look for diversification: – Defensive reasons which may be spreading the risk of market contraction, or being forced to diversify when current product or current market orientation seems to provide no further opportunities for growth. – Offensive reasons may be getting into new positions, taking opportunities that offers greater profitability than expansion opportunities, or using retained cash that exceeds total expansion needs. Instead of focusing in increasing the main competencies of their initial core business Virgin focused in diversifying risk acquiring new skills, new techniques and new facilities hence through an offensive strategy. Therefore, they followed not the internal development of new products or markets or acquisition of new firms but alliance or joint ventures with a complementary company which could enable them to operate in a new and unrelated market based on a set of attributes and values rather than a market sector. It was about being the consumer's champion! We can all this type of strategy as Conglomerate diversification (or lateral diversification). The corporate strategy of the Virgin Group is to operate like a venture capital firm based on the Virgin brand. This strategy involves non-related diversification at the individual business unit level. By leveraging on the Virgin Brand which has established prominence in the minds of consumers, Virgin is able to enter new business areas s haking up existing orders. Branson’s has entered in a business after another in which he perceived a set of consumers that were being underserved by a complacent and dominant player. The unique Virgin culture also allows Virgin to execute its ventures very effectively which were inspired in the keiretsu system as Branson was a convicted fan of the Japanese approach to business and â€Å"their commitment to long-term development and focus on organic growth†. The similarities are in a sense that Virgin is a group of companies pretty much diversified which have formal links in management and financial and also share a common identity. The formal linkages between the companies are, as we saw in the case, the ownership, the brand and the management. In order to protect the brand Virgin and Branson’s name the group is keeping some companies that are running with losses. Speaking in financials they are selling some of the most profitable companies as Virgin Records to finance the new start-ups. This is due to the fact that they identify a company operating in a segment which is clearly moving toward maturity to decline and instead of keeping it they sell moving to a new and growing market through diversification. The Virgin Group covers a wide range of industries-from Travel and Tourism (Limousines, Vacations, etc. , Leisure and Pleasure (Spa, Games, etc. ), Social and Environment (Green Fund, Virgin Earth), Beverages (wines and soft drinks), Media and Telecommunications (Radio, Broadband, Mobile, etc), Books, Clothing, Finance and Money, and Health (Health Bank, Life Care). But despite its diversification in terms of industries and products, it never diversified its brand names. All of its services and products in every in dustry have the name Virgin affixed to it. Virgin is a strong but universal brand name; so universal that many analysts believe the group should franchise to others unrelated companies. The Virgin brand made it possible to overcome barriers to entry in various industries and sectors and has been the group’s most important asset, together with Richard Branson. 4. Virgin Cola: Overview of Strategy Formulation Virgin Cola was created up during the early 1990s in a joint venture with Cott, a Canadian company that specializes in bottling own-label drinks for the UK market. Cott was looking for a major international brand that could have global appeal. That’s when Richard Branson attempted to extend the Virgin franchise into the cola market. Using the brand pattern in the Virgin Group’s diversification strategy, Branson claimed to fight the incumbents, Coca-Cola and Pepsi Cola in alliance with an organization with core competencies in this area. Within a few months of its release, Virgin Cola had a 50% market share in the outlets that sold it. As Virgin stands for value of money, quality, innovation, fun and a sense of competitive challenge they focus in the brand awareness to create the differentiation from the main competitors. Cross-promotion has been Branson's main weapon, serving Virgin Cola on Virgin Atlantic flights and (until they closed down) at Virgin Cinemas. In fact, we can see that this pattern was repeated successively in each new diversification, in each one was followed by expansions of the products markets, based either on new strategic alliances or within internal development and Virgin Cola followed the trend and also increased the portfolio and created new products (flavor expansions). The strong brand positioning and the innovative character were the key issues in the product differentiation options which can be can be explained due to the client’s linkage with the High risk perception associated with the product’s potential malfunction and the client’s low level of confidence in the choice of the product. We can also observe several stages of internationalization to countries where there was an Anglo-Saxon matrix, in this case France, Belgium, South Africa and later on the US. We can also see that there are still some actions regarding vertical integration, but more with a commercial purpose rather than operational. So far it has failed to overtake Pepsi in the UK as Richard Branson claimed it would, and unlike Pepsi or Coke it's relatively hard to find cans of Virgin Cola on sale anywhere as they have a weakness in distribution channels.

Foreign Currency Management Pdf

Foreign Currency Management Exchange Rate This is the rate at which the currency of one country would change hands with currency of another country. E. g. $1 = SLR 130 Types of Exchange Rate 1. Floating Rate This rate depends on a levels of the international trade of a country and it does not interfere with the government of that country. 2. Fixed Rate This is the rate that the government of the country would set its own currency rate and it is not depending on the market rate. 3. Dirty Float This is the rate that mixed between floating rate and fixed rate system.This is where the government would allow exchange rate to float between a particular two limits. If it goes outside either of the limit, then the government would take further action. Forex Dealings 1. Bid Price The price at which the currency is bought by the dealer. 2. Offer Price The price at which the currency is sold by the dealer. When regarding the forex dealings, Offer Price > Bid Price Example 01: David is a UK busi nessman. He needs $ 400,000 to buy US equipment. Identify the amount of ? equired to buy the Dollars? ($/? 1. 75 – 1. 77) Answer: The amount of ? required = $ 400,000 $/? 1. 75 = ? 228571. 43 Example 02: James is a US businessman. He has just received a payment of ? 150,000 from his main customer in UK. Identify the amount of $ received by James when ? 150,000 are given? (? /$ 0. 61 – 0. 63) Answer: The amount of $ received = ? 150,000 ? /$ 0. 63 = $ 238095. 24 Spot Rate and Forward Rate Spot Rate This is the rate which is applicable for the immediate delivery of currency as at now.Forward Rate This is a rate that set for the future transaction for a fixed amount of currency. The transaction would take place on the future date at this agreed rate by disregarding the market rate. Discounts & Premiums Discounts If the forward rate which is quoted cheaper, then it is set to be quoted at a discount. E. g. $/? current spot is 1. 8500-1. 8800 and the one month forward rate a t 0. 0008-0. 0012 at a discount. When quoted at a discount, Answer: 1. 8500-1. 8800 their should be more Dollars + 0. 0008-0. 0012 being received at a given Pound. = 1. 508-1. 8812 So the discount factor have to be added to the spot rate. Premiums If the forward rate which is quoted more expensively, then it is set to be quoted at a premium. E. g. $/? current spot is 1. 9000-1. 9300 and the one month forward rate at 0. 0010-0. 0007 at a premium. When quoted at a premium, Answer: their should be less Dollars being 1. 9000-1. 9300 received at a given Pound because – 0. 0010-0. 0007 of the expensiveness of Dollars. So = 1. 8990-1. 9293 the premium factor have to be deducted from the spot rate. Foreign Exchange Rate Risks . Transaction Risk This is the risk that adverse exchange rate movement occurring in the cause of normal international trading transaction. This arises when the prices of imports or exports are fixed in foreign currency terms and there is a movement in the excha nge rate between the date when the price is agreed and when the cash is paid or received. 2. Translation Risk This is the risk that the organization will made exchange losses when the accounting results of its foreign branches or subsidiaries translated into the local currency. . Economic Risk This is the risk that suppose to a effect of exchange rate movements on the international competitiveness of the company. 4. Direct & Indirect Currency Quotes Direct Quote: This means the exchange rate is mentioned in terms of the amount of domestic currency which needs to be given in returns for one unit of foreign currency. E. g. SLR 130 for $1 Indirect Quote: This means the amount of foreign currency units that needs to be given to obtain one unit of domestic currency. E. g. $ 1/130 for SLR 1 Example 01ABC Ltd is a US company, buying goods from Sri Lanka which cost SLR 200,000. These goods are resold in the US for $2000 at the time of the import purchased. The current spot rate is $1 = SLR 126-130. Calculate the expected profit of the resale in terms of US Dollars using both direct & indirect quote methods. Answer: 1. ) Under Direct Quote Method $/SLR = 1/126 – 1/130 = 0. 00794 – 0. 00769 Sales = $2000 (-)Purchase Cost=SLR200,000*$/SLR0. 00794 =($1588) Expected Profit = $412 2. ) Under Indirect Quote Method Sales (-)Purchase Cost=SLR200,000/SLR126/$ Expected Profit = $2000 =($1587) = $413Managing the Exchange Rate Risk 1. Invoicing in domestic currency Since the exporter does not have to do any currency transaction in this method, the risk of currency conversion is transferred to the importer or vice versa. 2. Money Market Hedging Because of the close relationship between forward exchange rate and the interest rate in two currencies, it is possible to calculate a forward rate by using the spot exchange rate and money market lending or borrowing which is called as a money market hedge. Feature article about  Production Management3.Entering into Forward Exchange Rate Contracts A person can enter into an agreement with a bank to purchase the foreign currency on the fixed date at a fixed rate. 4. Matching receipts & payments Under this method a company can set off its payments against its receipts in that particular currency. 5. Options These are similar to forward trade agreements, but the consumer can choose between the bank’s rate and the market rate. Example 01 A Sri Lankan company has to settle $800,000 after three months time. The current spot rate is $1 = SLR 126-130.The foreign currency depositing interest rate is 12%per annum and the borrowing rate in Sri Lanka is 8% per annum. The agreed exchange rate with the bank is $1 = SLR128. The company has identified to overcome the exchange rate under Money Market Hedging & Forward Exchange Rate Contract methods. Identify the cheapest method to overcome the exchange rate risk. Answer: 1. ) Using Money Market Hedging Method FV = PV* (1+r)n PV = $800,000* (1+ 0. 03)-1 PV = $776,699 r = 0. 12*3/12 r = 0. 03 n=1 Purchase Cost(SLR) = $776,699*SLR130/$1 = SLR 100,970,870 Interest Cost(SLR) = SLR 100,970,870*0. 8*3/12 = SLR 2,019,417 Total Cost(SLR) = SLR(100,970,870+2,019,417) = SLR 102,990,287 2. ) Using Forward Exchange Rate Contract Method Total Cost (SLR) = $ 800,000*SLR128/$1 = $102,400,000 The best method is forward Exchange Rate Contract Method, because it gives the lowest total cost when compare to Money Market Hedging Method. Reasons for Short Term Changes of Exchange Rate 1. Investment Flows If a country does more investment to outside countries, then there would be a higher demand for foreign currency. Therefore the domestic will depreciated or vice versa. 2.Trade Flows In a given time if a country has more imports and less exports, the domestic currency will depreciated, because of the higher demand for the foreign currency or vice versa. 3. Economic Prospectus If a country has g ood economic policies and is showing shines of economic growth, it could receive more investment and therefore the domestic currency would appreciated. Reasons for Long Term Changes of Exchange Rate 1. Purchasing Power Parity Theory This theory describes how the differences in inflation rate among two countries would lead to changes in the exchange rates.Future Rate(A/B)=Spot Rate(A/B) * (1+ Inflation Rate of A) (1 +Inflation Rate of B) 2. Interest Rate Parity Theory This theory links the future currency rates with differences in interest rate among two countries. Future Rate(A/B)=Spot Rate(A/B) * (1+ Interest Rate of A) (1 +Interest Rate of B) 3. Monetarist Theory This theory identifies the relationship between exchange rate and the government money supply to an economy of one country. E. g. When the government released more money to their economy, individual would have more money.So they would purchased more, the demand will increased & through that result in higher prices & high inflation. This would lead to a high level of depreciation to the currency. 4. Keynesian Approach This theory says that an exchange rate may not change in a balance and sometimes currency may continuously appreciate or depreciate without reverse. E. g. There is a high taste & demand for imported product in one country while their exports are losing its export position in other countries. Therefore, without any appreciation of currency will continuously depreciate over a long time period in that country.

The Feminist Movement in the 20th Century - 1659 Words

As noted by scholars such as Robinson (2001), the feminist movement of the 20th century was motivated by social and political movement in the United States; the purpose of the movement was to establish women equality. This movement was a success as it transformed the women lives and was able to exert profound impact on the American society. The first two decades had marked emergence of women groups that aimed to attain women suffrage, pushing for constitutional amendments for women to be guaranteed the right to vote in the 1920. This was not the only agenda the women movement advocated for, women again banded together to push for formulation for Equal Rights Amendment (ERA). However, this was not approved in the 1970s. Consequently, the women used this as a rallying point for those diverse women group and brought the attention to the feminist cause. The period of World War I and II, which was between 1917 and 1960 marked subsequent economic boom, this brought women into workplaces. 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