Volatility Of Irish Stocks Report Essay Help Free

Table of Contents Introduction

Rationale For The Study

Relationship to previous studies

Source of data

Proposed methods

Conclusion

Reference List

Introduction With the emergence of globalization, the world stock markets have become interdependent thereby if there is a change in one stock; the ripple effect is felt in other stocks in terms of volatility and returns. In this review we examine how the volatility of Irish stocks has evolved since 2000 to 2009 and the factors that have influenced them.

In focus are the main factors that influence the volatilities and how correlated the volatilities are in the different industries. In this review, we shall look at the influence of the U.S policies on the American stock market and in return the effect on the Irish stock market (Bredin et al, 2004).

There several ways through which the information about expected changes in financial policies are conveyed to the investors. From past studies it has been shown that investors invest in stocks prior to release of policy news which they hope will serve to their advantage. Therefore after the policy information has been past, the investors react accordingly, and this phenomenon is referred to as “the calm before a storm effect”.

Bredin et al. (2005) found evidence of a calm before the storm effect and of an asymmetric response to unexpected US policy changes, in that a higher than expected policy rate rise increases ISEQ volatility by significantly more than a lower than expected rise. Kearney (1998) stated that the Irish stock market is “highly integrated with the important international stock market in London”.

He finds that a predominant cause of volatility in the ISEQ is volatility in the FTSE. He also states that “Ireland’s membership in the European Community and the European Monetary System ensures that its financial and real business sectors are also closely linked to international developments”. Finally he finds that interest rate volatility is a less significant determinant of volatility in the index than exchange rate volatility.

Due to the membership of Ireland to the European Union, the volatility of ISEQ has significantly reduced and also the effect has been the same in other member states.

Also, during the survey of the ISEQ 20 index a number of methods were applied for example the CAPM theory that holds, the higher the security returns are equally proportional and that stock investors have equal price expectations, hence the investors who have diversified their stock portfolio have a less unsystematic risk.

Get your 100% original paper on any topic done in as little as 3 hours Learn More Nevertheless it is normally occurs the returns in securities and different markets are not directly proportional. Kearney (1998) shall analyzes how the policies are made and by whom and the variables that they seek to change in the financial markets.

Rationale For The Study Stock and financial researches conducted recently have shown a tremendous change in the way investors, both foreign and domestic, have changed their pattern of investing in the stocks. Since the global economic down turn, the volatility of the Irish stocks has increased drastically. This has been influenced by the number of economic and non economic variables.

Due to increased awareness of the volatility of the stock market by investors, a number of them diversified their stocks options to avoid unsystematic risks that would normally occur in the stock markets. The graph below shows the performance for the past decade: (Davis, The World’s Worst-Performing Stock Market).

There many theories used in the explanation of volatility of the Irish stocks. Bomfim (132) advocates for the Capital Asset Pricing Method (CAPM). This theory gives the assumption that asset returns are random variables that are distributed normally hence investors have diversified portfolios that assist them in eliminating risks.

Due to the fact that equity returns in the market are not distributed normally, there s usually a standard mean deviation of 3-6 which occurs often. In addition, there are other external factors that influenced the volatility of the Irish stocks, for example the influence of the international policies that had a direct impact in the value and trading of the stocks. The simplified market model is shown as follows , = b e = h (1)

Here, i t r , is the excess return on asset i at time t, m t r , is the excess return on the market portfolio, i b is the asset’s beta coefficient, i,t e is the usual CAPM idiosyncratic residual, and i,t h is the market-adjusted excess return on asset i computed according to the simplified market model.

Letting i t w , denote the weight of asset i in the market portfolio, we can compute the weighted average of the variance of returns on the n stocks in the market portfolio. t i t w Var r Var r w Var w Cov r , 1( ) ( ) (h ) 2 ( ,h ) (2)

We will write a custom Report on Volatility of Irish stocks specifically for you! Get your first paper with 15% OFF Learn More By substituting for i,t h from (1), noting that m t r , and i,t e are orthogonal, and recalling that the weighted average of the i b coefficients is equal to 1, the last term on the right collapses to zero, and we are left with the Carrol (2007) variance decomposition. This decomposes the average excess return variance across all assets in the market portfolio (VARt) into two components; the variance of the excess return on the market portfolio (MKTt) and the average firm-level variance (FIRMt).

It provides a CAPM-equivalent decomposition of average total risk into market risk and average idiosyncratic risk, with the considerable advantage that it by passes the need to estimate betas for each firm.

Carrol (2007) note that rising average idiosyncratic risk, together with unchanged market risk, implies a decrease in the average correlation amongst the portfolio’s assets, but they do not provide a theoretical specification of this relationship.

Although it is intuitive that average correlation must decline if the average idiosyncratic risk rises with a constant level of market risk, it is not trivial to predict what patterns in average correlation might emerge when, for example, average firm-level risk and market risk vary in the same direction but at different rates of change. To see the full set of possible configurations of market and idiosyncratic risk, we rewrite the MKT term by converting it to matrix notation.

The equation tells us that, at least for an equally weighted market portfolio, we can interpret average correlation as the parameter that, for any given level of average total risk, divides the latter into market risk and idiosyncratic risk. By differentiating rt in respect to the ratio of average idiosyncratic variance to average total variance, we obtain dr d( FIRM / VAR ) t = -1

Equations show that the variation in average correlation is inversely proportional to the variation in the ratio of average firm-level variance to market variance. The larger the number of stocks included in a portfolio, the more it resembles an equally-weighted portfolio and the better is the approximation provided by the equation.

Average correlation is strongly influenced by the extent to which firms diversify internally. The more the average firm diversifies (the more it resembles the market portfolio), the higher will be the average correlation for each given level of covariance risk in the economy (MKTt). The opposite is true for average firm-level variance.

Stock values are usually determined by use of their net present values therefore should a change in policy affect the expected net present value; the effect will be reflected in the value of stock returns in several ways. Through the use of arbitrage, new policy changes will change the market rates of stocks hence affecting the opportunity cost for an investor in continuing to hold such stocks.

Not sure if you can write a paper on Volatility of Irish stocks by yourself? We can help you for only $16.05 $11/page Learn More Therefore it will affect inversely the NPV of future cash flows from the stocks against the discounting factor. In addition change in international policy will affect the productivity of the stock in the short to medium term.

The U.S monetary policy changes have also contributed to the volatility of the Irish stock through policies that impact the supply of money, non- borrowed money in reserves, the discounting rate and the targeted rate set by the federal reserve.

Monetary policies are usually undertaken by the central bank over a given period in time which they find suitable. The policies made usually take into account the time or period of interest and the variable that the central bank wishes to control. Early studies estimated the following model:

_Pt = a b(_Mat − _Met ) _t (1)

Where: _Pt is the percentage change in the stock price;

_Mat is the announced change in the money stock;

_Met is the expected change in the money stock obtained from survey data; and

_t is the error term.

With the change in monetary policy regimes towards targeting short term interest rates, more recent studies examine the impact of changes in the policy rate target on asset prices. It still begs the question of how to decompose policy rate changes into (un)anticipated changes.

With the advent of federal funds future contracts in the late 1980s researchers have focused on the information contained in the federal funds futures rate to identify expectations of changes in future policy.

Changes in monetary policy decision have been including in the mean equation whereby the main focus is restricted to the days when the monetary policy decision was made. This is usually done in order to control other variable that might have occurred during those days. In addition it is also done in order to control other variables that influence the rate of returns of the assets.

Real variable that have been included in the equation include the GDP and the unemployment figures in the region while nominal variable have included the rate of inflation, money supply and the interest rate decisions. Any policy announcements are usually made in two ways; there are policy changes that are usually fixed to be announced at a particular time thus one knows when the change takes effect on the calendar

Campbell et al (2001), notices that the conditional volatility of the Irish stocks is greatly influenced by the integration of the international stock markets. Particularly, the London and the EC stock markets play a major role in the volatility of the Irish stocks hence whatever influence they face; its effect will be seen on the Irish stocks.

In addition, the European stock market ensures that the financial and business policies in the region are implemented by all the members and ISEQ complied with the policies thus is subjected to the same forces as other stock markets in the region. However, there has been a controversy between the influences of the GARCH model on whether it affects the volatility of the ISEQ or not.

The GARCH volatility model is used in getting the returns of equity since it is modeled in the belief that returns and volatility are interdependent. The return in equity is given by the following formulae:

Rt = ln (St )/St−1

Where; St = closing level security of the day our proxy for the unanticipated change in the German policy rate between 1989 and 1998 is the first day change in the 3-month Euromark futures rate.

With the introduction of the euro in January 1999, we proxy surprise changes in the ECB policy rate by the one day change in the 3-month Euribor futures rate.9 For the UK, our proxy for the unexpected change in the policy rate is the one day change in the 3-month sterling futures contract. Finally, we also analyse the impact of Irish interest rate changes on the ISEQ.

Given our methodology, an obvious problem is the lack of a futures market for Ireland stock market. We attempt to circumvent this problem by defining the unexpected change in monetary policy as the one day change in the 1-month Dublin interbank offer rate (DIBOR).11 The DIBOR was closely related to the Short-term Lending Facility (STF), the rate at which the Central bank uses. Early studies estimated the following model:

_Pt = a b(_Mat − _Met ) _t (1)

Where _Pt is the percentage change in the stock price;

_Mat is the announced change in the money stock;

_Met is the expected change in the money stock obtained from survey data; and

_t is the error term.

With the change in monetary policy regimes towards targeting short term interest rates, more recent studies examine the impact of changes in the policy rate target on asset prices. It still begs the question of how to decompose policy rate changes into (un)anticipated changes. With the advent of federal funds future contracts in the late 1980s researchers have focused on the information contained in the federal funds futures rate to identify expectations of changes in future policy.

When determining the volatility persistence of the Irish stocks, one looks at three key issues, mean reversion, volatility clustering and persistence, and the volatility half life. These three factors determine how long the volatility effect on a stock will last.

There are numerous external factors that are considered in determining the volatility of Irish stocks. For the Irish stock market in the last decade, the stability of inflation and output has been greatly influenced by the significance of the monetary policy.

The monetary policy affects the stock prices in various ways. First, alterations in the monetary policy significantly influence the output in the short and medium-term, and also the changes affect future cash flows by the alterations in markets. Secondly, through arbitrage, the change in the monetary policy rate also affects other market returns, thus determining the opportunity cost of investing in such stocks.

Bredin et al (2004) studied the effect of changes in monetary policy on treasury stocks and discovered that policy rate changes increase the treasury rates especially in the short term. Bredin et al (2004) says the introduction of a common European currency and the recent tendency of stock prices has shown the correlation between the monetary policy and security prices.

The decomposition of the Irish policy rate changes into (un) anticipated parts also significantly affects the volatility of the market. However, with the emerging relevance of interest rates in future markets, investors can derive market expectations of policy variables. Also, the markets are driven by the expectations theory of the term structure of interest rates.

Coval (2001) observes that changes in United States policy rate negatively influenced the volatility of the Irish stock market in the past decade. For the US, unexpected alterations in the federal funds target rate had an adverse effect on the ISEQ returns.

Domestically controlled interest rates also have an influence on the Irish stock market. Kearney (1998) studies conditional volatility of shares and concludes that the asymmetric component there is a significant correlation between conditional volatilities and correlation estimates, and the dynamics of firm-level correlations.

Relationship to previous studies A great deal of current literature regarding individual stock volatilities has been based on the findings of the 2001 paper by Xu, Malkiel, Campbell and Lettau. It had been previously assumed that unsystematic risk accounted for little in explaining the volatility of stock returnsMany studies done on the Irish stock market have been based on the findings conducted in 2008 by Carrol

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Concept of Efficient Market Hypothesis (EMH) Essay essay help online: essay help online

Abstract This paper takes a critical look at market efficiency as well as the efficient market hypothesis (EMH). The three forms of market efficiency are defined and illustrated while a correlation of the three forms of market efficiency proportionate to analysis is also identified and discussed.

Effective market hypothesis is further discussed and illustrated and academic evidence regarding the different stands and viewpoints on market efficiency is examined. In addition, different financial analyst’s explanation in relation to the role and impact of an investor in the financial market is examined and discussed.

The prices of shares are also discussed together with the elements in the market that greatly influence the prices of shares and securities in general. The stability of various stock indices is also looked at and relevant factors that contribute to the alteration of the indices either through speculation or economics are discussed from different analytical perspectives.

Finally, examples of market inconsistencies are discussed in order to identify instances where the share prices of particular firms have deviated greatly from the standard equilibrium. The paper goes ahead and further identifies and discusses the prevailing circumstances that led to the abnormal deviation of share prices and the subsequent corrective measures taken.

Introduction In order to be in a position to discuss the three forms of market efficiency, it is very important to comprehend the fundamental nature of market efficiency which is usually a major component of capital market efficiency. By definition, market efficiency is the level at which the present value of a given asset correctly replicates the existing information of the asset in the market place (Taleb, 2008).

Market efficiency necessitates a well organized capital market given that it is in such a market that new information on an asset is rapidly and accurately reflected in share prices and the current price is an objective estimate of its accurate economic value based on the revealed data.

Efficient Market Hypothesis on the other hand requires that all relevant information is in total and instantaneously mirrored in an asset’s market price, therefore presupposing that an investor will acquire an equilibrium rate of return (Shiller, 2003). An investor should therefore anticipate generating a standard return through the application of both technical analysis and fundamental analysis.

Get your 100% original paper on any topic done in as little as 3 hours Learn More The three forms of market efficiency Three forms of efficiency have been identified and grouped according to the nature of information which is replicated in prices.

Weak-form efficiency This efficiency means the information contained in historic price action of a share can be recognized in the current share prices though analyzing the historic prices has no predictive effect on the future prices since different information will be released in the future.

A number of varieties of fundamental analysis techniques are apt to offer surplus returns in Weak-form efficiency, whereas most technical analysis systems will fail in this form of efficiency or intermittently produce surplus returns (Keynes, 1936).

This is largely owing to the fact that the historical share prices in addition to other historical data cannot be utilized for an extended period of time in investment strategies to make surplus returns. Share prices have no price patterns that can assist in the assessment of current prices and hence lack serial dependencies.

Future price movements are for that reason determined entirely by the information disclosed at that particular time which is not currently enclosed in the price series (Fama, 1998). The history of share prices can therefore not be studied so as to forecast the future in any unusually gainful approach. Serial correlation in daily stock returns is close to zero as shown in the table below

Table 1. Serial Correlation of Daily Returns on Eight Stock Markets

USA 0.03 Germany 0.08 France -0.01 Holland -0.02 UK 0.08 Belgium -0.02 Italy -0.02 Switzerland 0.01 Source: Solnik, B. A Note on the Validity of the Random Walk for European Stock Prices. Journal of Finance (December, 1973).

We will write a custom Essay on Concept of Efficient Market Hypothesis (EMH) specifically for you! Get your first paper with 15% OFF Learn More Semi-strong-form efficiency Entails that share prices fully and rapidly mirror all the major publicly available information in a neutral manner thus investors cannot earn excess returns through the trading on that information (Fama

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Managing Diversity at Workplace Report argumentative essay help

Table of Contents Outline

Introduction

Why Diversity Management?

Different Dimensions

Benefits of Workplace Diversity

Diversity Management and implementation of diversity policy

The link between workplace diversity and good management

Conclusion

References

Outline Workforce diversity should be treated as a business initiative and not a human resource or personnel department function. There is a strong business case for diversity in the workplace. The 21st century enterprises have a felt need to value, and leverage diversity. It is top agenda item for successful CEOs. It is commonly accepted business reality that heterogeneous groups outperform homogenous groups.

Heterogeneous groups are better at problem solving, effective at decision making, and they are particularly well equipped in generating creative ideas. The advantage comes from the fact that the diversity of the workforce background itself imparts a fertile launch pad for creativity to work at its best. Two brains are better than one is a truism aptly applicable to business situations.

The power of brainstorming to create a dramatic impact in finding creative solutions to business problems is enormous. Modern work teams can do wonders in workplace. Productivity, and work quality significantly go up when employees have, or perceive they have, a full opportunity to contribute in a meaningful way.

3M typifies such philosophy abundantly. There is a sense of job ownership, project ownership, ownership of the outcome. Even the most die-hard critic of workforce diversity will be unable to refute the obvious benefits of diversity.

Introduction We live in a society that is known for its differences. Diversity in terms of multiculturalism, gender politics, affirmative action, preferences, and mandates have become part of our existence. We are today more actively dividing ourselves by race, gender, ethnicity, sexual orientation, religion, cultural norms, physical ability, and socioeconomic status, than in the past (George, 1961).

Though diversity is in existence since long, it is only recently that it has attracted greater attention from the corporate mandarins. Managing diversity is nothing but changing the organisational culture or its standard operating procedures. The fostered culture should enable employees to closely examine their values and beliefs and question themselves as to why others look different for them.

Diversity management must essentially create an environment that works naturally for the total diversity mixture. Keeping this in view the present paper attempts to clarify some of the real life business challenges in an environment characterised by diversity in workforce.

Get your 100% original paper on any topic done in as little as 3 hours Learn More Why Diversity Management? Human beings tend to see through their own views and interpret the views by what is accustomed to them. There is an addiction to seek the aggregation of those makes a lot of agnate to them for the acquisition and assurance in similarities. It is difficult for humans to conceive power, and history shows that it is rarely done voluntarily. They abide by the external changes and always strive for an accompaniment of homeostasis.

This amusing absoluteness makes an atmosphere appropriate for diversity, which includes anybody; adolescent, old, abandoned and affluent, Hindu or Muslim or Christian. Assortment calls for anniversary being advancing to agreement with his or her attitudes, beliefs, and expectations about others and accepting abundance with the differences.

To achieve from the affluence of talents and perspectives that can alone appear from accepting an advanced array of humans in adjustment of authoritative roles, managements accept to alternation advisers to accept the differences that abide aural cultures and as well amount the similarities that abide amid capricious cultures.

Even to absorb humans with altered backgrounds and characteristics who are able with appropriate skills, organisations accept to ensure that such advisers are not appropriate for their different claimed and cultural ancestry as the amount of inclined behaviour in the organisation; they may acquire their own way to other firms who wish them on their own terms.

Different organisations are viewing diversity’ in different ways. By diversity, we commonly mean differences based on ethnicity, gender, age, religion, disability, national origin and sexual orientation.

But technically speaking, “diversity goes beyond these visibilities and encompasses an infinite range of individuals’ unique characteristics and experiences including communication styles, physical characteristics such as height and weight, speed of learning and comprehension, socioeconomics, and education” (Anthony, 2005, p. 1).

The diversities associated with education, socioeconomic and work experience are, of course, considered more critical for organisational success today. In this context, diversity has become a resource for organisations.

We will write a custom Report on Managing Diversity at Workplace specifically for you! Get your first paper with 15% OFF Learn More In the workplace, diversity, if properly managed, optimises the willingness and ability of all employees to contribute to the organisational success by encouraging each employee to draw fully on the talents, different points of view, skills, and practices that have been brought into the system for the benefit of both the individual and the organisation.

Today, flourishing companies are taking action to appeal people who are blessed with talents, adventures and perspectives, socioeconomic accomplishments and again to alone and aggregately empower them to accord aggregate they accept in adjustment to attain business objectives.

The ambition of assortment is not to calculate humans by category, but to account from the best mix of humans of such a category. It is the organisations that could instil variety into the organisation in tune with their eyes and cardinal objectives accept reaped added benefits.

Different Dimensions People exhibit abundant differences in how they recognize changes in the organisation based on claimed characteristics. Of course, there is a hypothesis in psychology, which says that behaviour of an individual is an action of the being interacting with his or her environment. For example, an annoyed worker gets balked while alive for a close that requires approval of place from abounding levels.

That is how assortment in the workforce fosters mixed responses, ideas, and outputs in the organisation. Researchers observe particularly seven major differences: Humans alter in productivity; humans alter in adeptness and talent; humans differ in their ability for accomplishing top superior results; humans alter in how abundant they wish to be empowered and involved; humans alter in the appearance of administration they adopt and need; humans alter in their charge for acquaintance with added people; and humans alter in their bulk of charge and adherence to the firm.

Personality differences are another source of diversity. The personality factors such as sociability, affecting stability, agreeableness, conscientiousness, artlessness to experience, self-monitoring of behaviour and affecting intelligence make an impact on employee’s achievement at work places. It determines how an employee gathers and evaluates information.

Sensation displays individuals’ ability to accept and orderliness in their job action area as employees’ admiration to accept an all-embracing viewpoint and as well adore analytic new problems. Feeling blazon humans are about conformists and by all agency try to abstain disagreement. Contrarily, cerebration blazon individuals await added on their ability rather than affect to break problems.

It is believed that a diverse work force is always superior to a homogenous group. A heterogeneous group is proved to be capable of producing higher-quality ideas and is likely to take quality decisions for greater the diversity, greater will be the innovation in the organisation.

Not sure if you can write a paper on Managing Diversity at Workplace by yourself? We can help you for only $16.05 $11/page Learn More A company’s mere willingness to employ diverse workforce such as people from different races, genders, cultural backgrounds, the disabled, etc., may make it a darling of the market and thus give a boost to its market cap and sales volumes (Gregory, 1980).

Organisation image: The image of an organisation follows same connotations and meanings as that carried by an individual in real life. The organisations also exhibit same traits and behaviour as exhibited by individuals.

So organisations must create a culture that values diversity; practices policies that foster mutual respect, a sense of belonging for all, and the acceptance of differences, promote a culture where diversity is valued; and corporate wide diversity training serves to promote this image.

Concern for equality: In their practices, organisations must demonstrate equal respect for minority and majority group members. To achieve this, companies must develop performance expectations and reward systems that are unbiased. Often, minority-group members feel that they work harder than majority group members, but still are not compensated equally (Orlando, 2000).

Career development: Companies that want to create a climate where diversity is valued must promote minority group members with the opportunity for development and promotion. Most important, they must provide minorities an access to top-level management positions. Minorities who hold high-level positions can send a message to those in the lower ranks that this is a company that values diversity.

Hiring practices: Organisations must work hard to recruit and hire multicultural employees. At the same time companies must provide those prospective workers with an opportunity to be hired into well-paying positions, equal to the opportunities extended to majority groups. Companies can benefit from setting goals and guidelines for minority hiring.

Unfortunately, some organisations seek to build a diverse work group by hiring many minority group workers into low-paying, unskilled positions. Rather than creating an image of a positive multicultural environment, however, this crowding of minorities at lower positions fosters negative feelings. Minority members sense that they must do the “dirty work” and feel they are being used by the organisation (John, 1982).

Benefits of Workplace Diversity In the global economy, lack of cross-cultural understanding among the business people may lead to delays in getting the job done right, poor performance, decreased revenues and lost opportunities. Similarly, the need for adaptability is found to be quite essential for success in the globalised economy and diversity enhances adaptability.

It is only by employing a wide assortment of people; richness of talents and perspectives can be brought into organisations. There are thus more than one reason why companies deliberately take initiatives to build diversity among its employees, of course, in tune with its stated vision and mission statements.

Organisations that manage their diverse workers can increase their productivity substantially through many ways, one of which is increased problem-solving ability. Such productivity may result from increase in creativity that has been hypothesised to be related to heterogeneity. For example, bilingualism and biculturalism have been found to be related to divergent thinking, which in turn has been hypothesised to be associated with creativity (John, 1995).

Recently, it has been demonstrated that ethnic heterogeneity in small groups is associated with increased quality of ideas generated for solving problems. Increased heterogeneity also brings in another benefit the prevention of group think phenomenon that occurs only in cohesive groups.

Such factors however depend on how factors such as amount of diversity, ease of discussing differences, cultural awareness training, and background information on group members affect the quality of idea generation.

With the advent of digital economy one of the greatest challenges facing the organisations is the increasing diversity of workforce. It has become an essential business concern. There is a talent war raging among companies to retain their best talent in a bid to retain their competitive advantage. Diversity management and change management go hand in hand.

They mutually support each other (Anton, 1970). Organisations that adapt themselves to change are more likely to be comfortable with managing diversity better. Likewise, organisations are comfortable with diversity and are more likely to be able to anticipate and adapt to changes in the globalised business environment.

They will be nimble footed to react instantaneously to the situational demands. It is known that organisations that are ready to accept changes can be stronger inherently as it would benefit them in terms of achieving adaptability to manage complexity, contradictions, and paradoxes.

Office technology has felt the revolutionary nature of change the most. The technological sophistication is a natural enabler to the manage diversity in a planned and systematic manner. Technology offers a level playing field to each individual regardless of gender, race, age, and so on. It is a great equaliser (Bertallanfy, 1968).

It eliminates the human bias. Electronic meeting is case to point as an example. It is a way of exchange ideas for free. Everyone has an active participative role shot. An electronic meeting paves the way for a secured atmosphere in which ideas and suggestions can be shared and proposed easily.

As a marketing strategy in today’s global economy it makes eminent sense to make the workforce represented by people from all walks of life covering a broad spectrum like different ethnicities, races, ages, abilities, genders.

To ensure that their articles and casework are advised to address to this assorted chump base, advancing companies are hiring people, from those walks of activity for their specialised insights and knowledge.

Similarly, companies having direct interface with the clientele are finding increasingly important to match the profile of the workforce with the profile of their customer base. Homogeneous workforce always result in less external interaction and communication and companies that retain such a workforce would not be effective in framing policies and programmes in consultation with people of different tastes and preferences.

To stay competitive the workforce diversity helps the companies as a capacity-building strategy. They need to sprint in order to stay where they are. The dynamics of change is no more evolutionary in nature rather it is revolutionary.

Companies that advance accept the accommodation to actually break problems, bound acclimate to new situations, readily analyse new opportunities and capitalise on them instantaneously. The scope of talent, experience, knowledge, insight, and acuteness accessible in their workforces can go a continued way in architecture the accommodation for the enterprise.

Whatever may be reasons that prompt companies, it is an obvious fact that companies that diversify their workforces will have a distinct advantage over those that don’t. The huge allowances of workforce diversity will be experienced, not by the companies that accept abstruse to apply humans in animosity of their differences, but by the companies that accept abstruse to apply humans because of them.

Diversity Management and implementation of diversity policy The acceptation of workforce diversity has been a cause for worry in contemporary years. Not continued ago, diversity referred to a person’s gender or indigenous group.

Diversity today encompasses differences in age, administration in an organisation, educational background, human acclimatisation or preference, concrete abilities or qualities and amusing status, bread-and-butter status, lifestyle, religion, ethnicity, and genders a part of abounding added characteristics (James, 2001).

Also the abstract suggests that diversity administration refers to efforts to animate a amalgamate workforce to accomplish up to its abounding abeyant in an candid plan ambiance area no one accumulation has advantage or disadvantage. Its focus is on alone differences rather than ability differentials. The main arguments identified in these definitions can be summarised by defining diversity as:

Diversity is an authoritative behaviour, which acknowledges and ethics differences and similarities a part of humans and how the differences can plan to advance the organisation. It as well agency compassionates the authoritative environments with an acknowledgment for gender, culture, and indigenous lifestyles.

Developing and maintaining programs that foster diversity have proven difficult for companies in which embracing diversity amounts to a cultural change. Because, company cultures are deeply rooted and the resulting beliefs are widely held, and culture is difficult to change.

Many organisations have attempted to find quick fixes for diversity enhancements, but sooner or later those firms have learned that there is no such thing as a quick fix. Fostering and managing diversity requires a comprehensive and carefully planned approach.

Given below is a diversity management model that the authors have developed through extensive literature review and issues raised by researchers and scholars in the field. The differences in ethnicity, culture, gender, age, and lifestyle impart variety of perspectives to the workplace.

All perspectives are not only essential but should be actively sought. The spirit of alternate regard, cooperation and investment through acquainted accomplishment to advance development of agents leads to synergy the action in which alive calm yields after-effects greater than the sum of alone efforts.

Proactively create and sustain an internal climate of equal opportunity for all through work force development initiatives such as job growth opportunities, through mentoring, job shadowing and training, tuition reimbursement, employee recognition, and improved communication on relevant issues and activities.

The link between workplace diversity and good management The organisations are also waking up to the fact that managing workplace diversity is imperative. Though organisations acknowledge the importance of maintaining a diverse workforce, efforts are not in tandem with the prominence given to the issue.

Workforce diversity is throwing up complexities no doubt, but looking at the broader picture, we see that there has been a movement from simple to complex in all realms of the workplace.

System thinking has replaced a simplistic cause- effect relationship. Managements are trying to integrate and benefit from a diverse workforce by coming up with options like flexi time benefits. Gender diversity training programs aimed at highlighting the politically correct work practices and individual behaviours are gaining popularity worldwide (Christopher, 2000).

The flip side is that some managers feel that increased workforce diversity may cause management problems. Diversity brings with it the need for more flexibility, which makes management more complicated (e.g., scheduling, compensation plans, interpersonal communication, ethnic differences) (Philip, 1974).

The crux of the issue lies in the fact that women in workforce is a reality and the aim of organisations must be to think of how best to harness this vast pool of talent and not glorify the issues as complications.

The boards of companies, which expressed faith and backed their women employees, have been rewarded handsomely. Management research is now focusing on a feminine style of management that highlights the success of adopting a feminine or a softer approach to managing people. Many studies have shown that women in fact can make better managers.

Workforce diversity can be managed only through a change in the mindset. Integrating the people working in an organisation successfully should be a product of the organisational culture and not a stand-alone training program. The day the women in organisations are accepted as being indispensable, just as in a family, that will be the day the term gender diversity with its negative connotations will cease to exist.

Efforts to build a diverse climate and creation of multicultural opportunities will not by themselves create an organisation that values diversity unless management practices reflect this commitment (Robert, 2001). If diversity is to be optimised, top managers must recognise the capabilities of all employees, take their ideas seriously, and support both minority and majority-group employees.

Managers must communicate effectively and accept employees who do not speak the local language. Finally, managers must respect the cultural beliefs and needs of employees and truly value the diversity of the workforce. Strategies that can lead to diversity include diversity-awareness training and the hiring of managers and top executives who reflect variety in gender, race, and ethnicity.

The role administration practices plays in acknowledging assortment highlights the charge to appoint and advance top-level agents associates who are acute to the apropos of multicultural employees. The management can do this by incorporating this in their hiring practices to hire people who are sensitive and can relate to multicultural workforce.

Conclusion Diversity among workforce becomes an asset business. It enables organisations to have a command over choice. Diversity brings to organisations unique perspectives. Understanding the demographic differences among the workforce can help organisations capitalise on diversity and avoid negative stereotyping.

If managed properly, diversity optimises the willingness and ability of all employees to contribute to organisational success besides, encouraging each to draw fully on the talents, different points of view, skills, and practices that have been made available by diverse workforce. Diversity, if managed badly, can become a liability.

References Anthony, Ferner, Phil Almond and Trevor Colling (2005), Institutional Theory and the Cross-National Transfer of Employment Policy: The Case of ‘Workforce Diversity’ in US Multinationals. Journal of International Business Studies, Vol. 36, pp 1- 86.

Anton, C. Zijderveld (1970), The Abstract Society-A Cultural Analysis of Our Time, Penguin Books, Middlesex, England.

Bertallanfy, Von Ludwig (1968), General System Theory: Foundations, Development and Applications, George Braziller, New York.

Christopher, Earley P. and Elaine Mosakowski (2000), Creating Hybrid Team Cultures: An Empirical Test of Transnational Team Functioning, Academy of Management Journal, Vol. 43, No1, pp-26-49.

Gregory, Bateson (1980), Steps to an Ecology of the Mind (chapter on Double Bind Theory of Schizophrenia), Ballantine Books, New York.

George, H. Sabine (1961), A History of Political Theory (Chapter Hegel: Dialectic and Nationalism’pp-620-668), George G Harrap

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The Position Lacanian Psychoanalytic Theory Allots to the Art Object Regarding Desire in Postmodernities Coursework argumentative essay help: argumentative essay help

Lacanian Psychoanalytic Theory and Art Introduction

Importance of the issue

Appreciating pieces of art is a great pleasure as it gives us time for imagining the personalized meaning of those objects through our own personal mirrors of our egos and minds. Sometimes, we try to find the meaning of what we see or hear with the help of our instinct or intuitive feeling beyond the logic and strict reasoning to understand the pictures or sculptures.

The same can be claimed about psychology and different theories that are aimed at explaining human desires and unconscious intentions. The perception of art objects can be understood with the help of applying Lacanian psychoanalytic theory to objects depicted and the way people usually understand those.

As psychological interpretation of contemporary art suggests abundant sources for comprehending our experience on art, it is possoble to use Lacanian psychoanalytic theory to understand the essential aspects of postmodern artworks in terms of the concept of desire. The relation between the concept of desire according to Jacques Lacan’s theory and such aspects as what is shown, what is seen, and the way of perception in the objects of art are of the main focus of the current paper.

Aim and scope

The current paper is aimed at showing the number of different explanations that can be evoked by implementation of Lacanian psychoanalytic theory while observing and discussing the objects of art such as mixed media sculptures created in contemporary conditions with the help of modern materials, techniques and methods including postmodern tendencies.

In particular, reviewing the works designed by Louise Bourgeois including Arch of Hysteria (1993) and Cell (Eyes and Mirrors) (1989-1993) and Yayoi Kusama’s Infinity Mirror Room – Phalli’s Field (1965) and Narcissus Garden (1966) can demonstrate the most prominent features of Lacanian theory in these art objects regarding desire in postmodernities.

The art objects mentioned above will be analysed in the current paper in accordance with the Lacanian psychoanalysis theory that includes such aspects as concept of mirror, phallocentrism, femininity, and mirror with regard to desire and psycho-sexual tendencies.

Theoretical Background

Lacanian Psychoanalytic Theory

Lacanian psychoanalytic theory’s main purpose is to evoke hidden side of human mind, the unconscious, so that people could explain things that seem ambiguous or, on the contrary, obvious. The number of explanations of the unconscious desire can vary due to the background of every person involved in the process of discussion. For instance, certain events, either negative or positive, in the life of a person influence his/her perception of self and individual desire in different ways.

Get your 100% original paper on any topic done in as little as 3 hours Learn More According to Lacanian theory of mirror stage in terms of personality development, the aspect of Narcissism is the shared feature of personal human desire. “The mirror stage is also closely related to narcissism”1 as the Greek myth dwells on the beauty of a young man who fell in love with his own reflection in the water.

“Lacan develops Freud’s concept by linking it more explicitly with its namesake, the myth of Narcissus”2. The mirror image in early childhood serves to mould a self-image that is not actually a self-image, but an ideal one of what we want to be, and, consequently, it serves to set a psychological drive toward self-definition based on a imaginary structure forced by the identification with external social order.

In this respect, Lacan’s theory does not focus only on biological aspect of mirror stage of psycho-sexual development; the mirror stage is suggested as the primary stage in the perception of a person that helps to conceive the real image from the self and from others. The scope of ideas on the concept of mirrors can be presented in a multivolume work whereas the main ideas can be found in the theory of psychoanalysis established by Jacques Lacan.

Though Lacan’s theory has proven to be one of the most insightful interpretations of our time, some critics found explanation and analysis of certain concepts gender-oriented and discriminating. For example, French feminists Julia Kristeva and Helen Cixous have argued about the objectivity of presentation of concepts of phallocentrism made by prominent theorists, philosophers, and psychologists Jacques Lacan and the person influenced by Lacan’s ideas, Jacques Derrida.

Female writers criticized Lacanian theory because it suggested lack of self in women making them penis-less creatures deprived of the ego and associated more as a part of the male essence. In this respect, Helene Cixous’s essay ‘The laugh of the medusa’ is aimed at discussing the influence of gender aspects on cultural life of people, art objects, and language in particular.

The author dwells on the difference between cultural concepts and gender aspects that, as the author claims, should not be mixed with one another and with biological peculiarities of life.3 The more we try to tie the aspect of gender to other areas of human life, the less appropriate these concepts may become.

Different problems with the perception of this or that idea or object of art can be the main reason for treating the phallocentric concepts as those discriminating femininity as a feature of the gender. Julia Kristeva suggests the idea of “drives [that] involve pre-Oedipal semiotic functions”4; this statement can be considered one of the most appropriate ideas for discussion with regard to desire and drives in the process of analysing the objects of art.

We will write a custom Coursework on The Position Lacanian Psychoanalytic Theory Allots to the Art Object Regarding Desire in Postmodernities specifically for you! Get your first paper with 15% OFF Learn More Phallocentrism is defined here as irrelevant panegyric on make sexual organ and behaviour of male representatives associated with their attitude to this organ as well. In this respect, the desire related to the objects of art can be found in the issue of glorification of the male sexual organ.

The more theories try to approach the concept of the mirror, the more ideas appear in the process of analysis even on the simplest phenomena that did not suggest that many explanations of a specific term before. In this respect, it is necessary to emphasise that Lacanian psychoanalytic theory is aimed at provoking human thoughts on different subjects as a person who knows about the suggested concepts would use those ideas while analysing the objects of art.

For instance, Jacques Lacan introduced a concept of mirror and explanation of the function of the unit I as suggested in psychoanalytic practice. His work “Mirror stage as formative of the function of the I as revealed in psychoanalytic experience” demonstrates the inner stage that is suggested to analyse as the initial condition or a ‘mirror’ as the inner reflection of all actions performed by a person.

This mirror is treated as a specific place or an object used for analysis of actions, behaviour, and deeds by a person; such a self-analysis and counter-analysis are used for signification and counter-signification of the self.5

This concept was not critically perceived by female writers Cixous and Kristeva because it was not treated as the one that is posted against the femininity, female concepts, and feminine gender in general though the concept of mirrors helps to assess the role of desire in the analysis of the self.

Desire in Postmodernities

Postmodernism is a movement in art and architecture that can be considered one of the most influential trends in twentieth century due to its simplicity and complicatedness at the same time. Though different styles in art can be claimed to have found their application in culture, postmodern movement had a prominent impact on the architecture and art objects.

As suggested by Tobin Siebers in his book Heterotopia: postmodern utopia and the body politic, the postmodernities can be compared to desire that cannot be explained and understood completely.6 On the other hand, it is necessary to trace the real meaning of postmodern art objects that can be insightfully explained using psychological analysis theories aimed at explaining human desires, fears, and intentions.

The analysis of the self can be performed through the use of mirrors that represent the relations between what a person wants to show and others want to see or are able to see. Besides, as suggested by Jacques Lacan, the desire can be clearly understood after analysis of the body: Fragmented body is analysed in terms of the desires and fears and the hidden intentions behind the reflection of different parts of the human body.7

Not sure if you can write a paper on The Position Lacanian Psychoanalytic Theory Allots to the Art Object Regarding Desire in Postmodernities by yourself? We can help you for only $16.05 $11/page Learn More Most postmodernists are sceptical of the concept, ‘certainty’ or ‘authentic truth’ because the function, meaning, and symbolic value are varied in the context or situation; the same can be traced in psychoanalysis where every detail is thoroughly examined to trace the connection between the desire and images usually reflected in the inner mirror.

Though every object of art can be analysed in a different way, there is a number of traits that can be traced in most of them with regard to the gender of the author, the inner reflection of the actions, and attitude to the self, and other concepts that can be easily found in psychoanalytic theory established by Jacques Lacan.

So, the objects of art created with regard to the tendencies and concepts established for postmodernities can be easily analysed with the help of Lacanian psychoanalytic theory designed merely at the same time as the postmodern movement.

In this respect, it is possible to apply the concepts of psychoanalysis such as self-criticism by Freud8 to the objects of art designed by contemporary authors due to the background of authors and their reflection of the self in those art objects.

Position of Theory to the Art Object

Louise Bourgeois, Arch of Hysteria, 1993

The first object of art that should be analysed with regard to the concept of desire in postmodernities and the basic concepts revealed in Lacanian psychoanalytic theory is the one designed by Louise Bourgeois. This piece of art was created in 1993; the Arch of Hysteria can be considered one of the most feminine and delicate works created by this author.9

At the same time, it is powerful demonstration of the human body. And the name of the sculpture created using polished patina on the hanging piece made of bronze talks for itself. The attack of hysteria makes people change the positions of their bodies.

The same can be traced when a person experiences some strong emotions or feelings and is not able to control the movements, gestures, and emotions expressed on his/her face. Every attack of hysteria can be depicted in another way because every individual has his/her own reflection of the self and is able to analyse the self using the inner mirror.

The discussion of femininity is related to the ideas the author of this object of art found relevant due to the feminism movements and active involvement in those.10 The author manages to create her works without being too gender-discriminating toward the representatives of the opposite sex. Moreover, her work Arch of Hysteria (1993) can be considered the one that makes the male body the core concept of the overall image created.

In this respect, the idea of phallocentrism vigorously criticised by Cixous and Kristeva can be easily traced in this particular object. Moreover, the body hanging in the air can be analysed using the concept of fragmented body with regard to the wholeness of the subject, totalization and autonomous self. In other words, the concept of desire in postmodernities can be explained with the help of this sculpture that seems to be aimed at dethroning the power of the male body by making it more feminine with the help of hysteria that was considered a female disease.

Every person has certain secrets whereas all hidden desires and intentions can be revealed with the help of the psychoanalysis suggested by Lacan who based his theory on the concepts explained and analysed by Sigmund Freud.

The main idea of the current object of art can be considered the real human emotion captured in the earthly body while every gesture and movement made by the person helps to reveal this emotion and explain the reasons for experiencing it.

In the same way, every person can be read as a book with the help of Lacanian psychoanalytic theory when every image, dream, or idea is the result of some events and situations that took place in the life of this person; the same events and situations can be treated as the reasons or causes of other events.

The concept of desire can be considered the core idea of every piece of art because every author has certain desires and intentions and can use those as inspiration while designing the object of art. Moreover, the sexual desire can be traced in every art object that is aimed at reflecting the author’s intentions through the presentation of the human body.

Louise Bourgeois, Cell (Eyes and Mirrors), 1989-1993

The next object of art is designed by the same author. This creation is represented through the cell which contains specific eyes and mirrors. In this respect, it is necessary to trace the meaning transferred with the help of those objects to the meaning of the whole piece of art.11 The more different objects we introduce to the piece of art, the more complicated it becomes.

The complicatedness of the object can be traced through the number of meanings attributed to every object it contains. In other words, the meaning of this Cell (Eyes and Mirrors)12 should be analysed with regard to the meaning of cell, eyes as parts of the human body, and mirrors and the concept of desire in postmodernities.

It is possible to analyse every concept in turn and, after that, try to explain the meaning of the whole object of art bearing in mind the meaning of each separate object that is included in the structure. For instance, the work of art Cell (Eyes and Mirrors) designed by Louise Bourgeois in 1989-1993 can be analysed as a set of objects each having its own meaning and contributing to the meaning of the entire object.

As every object can have meanings with regard to the context, it is necessary to analyse the possibility for occurrence of meanings and the number of meanings that can depend on different factors. In other words, the background knowledge and situations that occurred in the life of a person prior to observation of a concrete object of art should influence his/her perception of this work.

So, cell can be considered as the limitation or restriction imposed on a person by his/her parents, friends, or supervisors. Besides, certain prohibition can be treated as the reason for author to use such an object in the overall construction. If a person had no negative experience related to the image of a cell, this work of art would not evoke any negative emotions.

The concept of eyes in combination with mirrors represents the reflection of the ideas with the help of mirrors. In addition, this combination can be treated as the desire of the author to show the audience something hidden in her inner self which can be seen only through the eyes. Thus, the eyes reflected in mirrors suggest a hidden desire of the author to reveal her hidden feelings or something she cannot say aloud.

Another idea that comes to mind while looking at this object of art created by a woman is the female aspect of this work. In this respect, it is necessary to remember about the concern of all women about their look. As they often look in the mirror, they can see something that cannot be seen without a mirror.

In other words, the mirror can be used as an instrument to show and see something mysterious or at least something that cannot be seen without this magical device. The desire to say something can be treated as the core concept of this work because mirrors and reflections can often say something a person is afraid to reveal to him/herself or is confused about the consequences of such information transferred to a stranger.

Masks and disguise contribute greatly to the overall image of the object of art called Cell (Eyes and Mirrors) designed by Louise Bourgeois in 1989-1993 because it is a feature of most women to have many identities and play many roles while only a mirror can reflect the real image of a woman.

Yayoi Kusama, Infinity Mirror Room – Phalli’s Field, 1965

It is necessary to mention that the object of art designed by Yayoi Kusama, Infinity Mirror Room – Phalli’s Field created in 196513 can be considered one of the most original objects of art designed under the influence of postmodern trends and technologies. This work can be easily analysed applying Lacanian psychoanalytic theory to practice because mirrors play the core role in this work.

The more a person reflects on his/her self image in the mirror, the more he/she is likely to change in the inner world to adjust to the conditions of the outer world. On the other hand, it is possible that a person changes the inner world to have it as a shelter from the oppression and all negative factors that exist in the outer world.

In this respect, it is possible to treat the mirrors as an instrument for initiating self-analysis. As suggested in the work by Peter Gay who analyses Freudian theory of psychoanalysis, “The physician should be opaque to the patient and, like a mirror, show nothing but what is shown to him.”14

For Lacan, however, mirror image has some deceiving aspects that alienate human from the real self by representing the Narcissistic illusion of self-autonomy. In this regard, the mirror in the Kusama’s work is the place for searching human identity on the dialectical relationship between ‘seeing and to be seen’.

Lacan’s key concept regarding the mirror stage is for challenging the integrated identity that reflects human’s narcissistic desire for wholeness, totalitarian or self-autonomy which we should overcome to be mature.

In addition, he thought integrated identity to be illusion of synthesis which is not really existent in the real world. For Lacan, human is in fragmented body in the real world and the fragmented body refers not only to images of the physical body but also to any sense of fragmentation and disunity.

The life in society can be considered another influential feature in creation of this object of art due to postmodernities with regard to desire and values typical of times and cultures; many identities are reflected in the mirror and it is up to a person to see or not to see them.

The objects on the floor of the mirror room can be treated as obstacles for analysis because the roles we play in the everyday life can differ greatly from what we are and who we are because of the necessity to adjust to the conditions of the outer world. Besides, the society that we live in often imposes the roles on its members in order to protect itself from misunderstandings.

This aspect can be regarded as a great obstacle for analysis of a person, his/her real desires, fears, intentions, and beliefs. In addition, the efforts of a person to take away those obstacles can be considered unavailing because the mirror room is closed whereas all objects are inside it and there is no way out except the door.

It is possible that the only way to walk through the door is to recognise the reflection in the mirror and confront the uneasiness of the fragmented body in the number of identities assigned by contemporary life.

Yayoi Kusama, Narcissus Garden, 1966

The next object of art for analysis is the mixed media Narcissus Garden created by Yayoi Kusama in 1966.15 The author managed to use the reflection received while looking in the water. This object consists of a pond and silver balls in the water. These balls are light enough not to drown while their reflection in the water can be treated as the reflection of each person in the mirror in the previous work of art.

As suggested by Sigmund Freud in his study ‘On Dreams’, every dream has specific content16 that can be analysed. Moreover, every object depicted in the dream has a specific meaning with regard to the situation in which it appears. In this case, the balls that can be seen on the water surface can reflect the desire of a person to swim opposed to the possibility of drowning.

Every object that can be analysed can be influential in terms of hidden desires or fears that can be revealed in the process of analysing those dreams. Though some dreams may seem strange, it has some points to try to analyse each of them in order to see the real nature of the soul.

The pond with silver balls can be associated with a desire to see the number of identities. If a person reflects the pond with silver balls in the object of art, she may have some problems with self-identification. In other words, a person that experiences difficulties with analysis of the self can try to reflect those problems in this way.

For instance, the number of balls can correspond to the number of identities or roles a person has in everyday life and uses those while communicating with colleagues, building relationships in the family, and other situations.

However, the surface of the water shows everything that is reflected while some reasons can be found for this. In this case, the balls are reflected in the outer world while an inner mirror is situated in the inner world. In this respect, the number of identities will be reflected in the water every time.

Every identity has its own reflection in the outer world as well as every person can find his/her reflection in the mirror being a parent, a friend, or performing some other roles. In this respect, an inner mirror of the ego should show our Narcissistic desire towards independent entity.

Every concept of life can be reflected in the inner world whereas it depends upon a person whether to let certain concepts into the inner world or leave those outside. As the personal life of every individual is full of certain events, all those events can influence successive events and the condition of the inner worlds.

Thus, a reflection in the inner mirror can distorted due to the impact of all events that take place in the life of a person. The pond with silver balls can also be treated as the outer world with all its imperfectness and obstacles that appear on the way of a person when he/she wants to look at the Narcissistic reflection on self but can only see the numerous identities. Every identity can be reflected in the mirror of the outer world though it is up to a person whether to let those identities into the inner world to be reflected in the inner mirror.

Conclusion The concept of self, reflection in the mirror, the number of identities and roles assigned to every person, feminism and male sexual organs can be traced in the objects of art. As the theory of Lacan is mainly based on the theory established by Sigmund Freud, it is necessary to mention the significance of his study for analysis of sexuality and gender differences.

The Arch of Hysteria reflects the power of human body whereas it can be treated in a different way when applying Lacanian psychoanalytic theory to it. In this respect, a human body can be considered the symbolic representation of human desires reflected with the help of postmodernism trends.

Female critics of Jacques Lacan’s theory do not blindly criticise his theory; they try to see the discrimination of identity of woman in the analysis through rejection of the phallocentrism as a core aspect of most psychological analyses. In other words, Helene Cixous and Julia Kristeva apply Lacan’s psychoanalysis as the assessment of sexual features, desires (often sexual), and fears related to the gendered self.

Lacan’s theory of the mirror stage demonstrates that our self-identification is based on an illusion of an idealistic image of completeness that does not actually exist in the real. And the imaginary identity created by the co-operation between Narcissistic desire and external forces is subject to the fragmentation of identity in reality.

Thus, the ideal-I acts in similar way as Sigmund Freud’s ego in that it prevents this fragmentation from emerging to the surface. The main aspect that can be traced in the objects of art such as Cell (Eyes and Mirrors) by Louise Bourgeois and Infinity Mirror Room – Phalli’s Field and Narcissus Garden designed by Yayoi Kusama is the mirror and reflection of the self including the further analysis of the self.

Works Cited Bourgeois, Louise, Arch of Hysteria (1993). Web.

Bourgeois, Louise, Cell (Eyes and Mirrors), (1989-1993). Web

Cixous, Helene, ‘The laugh of the medusa’, in Peter Simon (ed.), The Norton anthology of theory and criticism (London: W. W. Norton

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Revision and reversionary in The Empire Writes Back Term Paper college essay help near me

To begin with, upon seeing the title, I immediately thought of the Star Wars movie. The content is very far from the movie though. In general the book is a very helpful and clearly articulated accumulation of the main issues and problems in post-colonial scholarship. Although some scholars call it outdated and too academic, I think it has its historical value and will be used to teach postcolonial literatures for a long time.

In this paper I was trying to concentrate on the issues of revision. The notion of revision and the term “reversionary” have been discussed widely, although not theorized, by many feminists and postcolonial critics over the past few years. Harold Bloom is a pioneering critic who has theorized the nature of revisionism by describing it as anxiety, an “anxious expectation” in the Freudian sense (Agon Viii).

Revision in the Blooomian model suggests a mediated vision whose agonistic spirit “[contests] for supremacy, with other spirits, with anteriority, and finally with every earlier vision of itself” (Agon ViiI). However the agonistic fighting that Bloom proposes represents more of “a loving conflict” with previous works than one with the world. Bloom stresses agonistic revisions of texts, not of contexts.

Revision is given a pivotal emphasis in the influential work of Ashcroft, Griffiths and Tiffin, The Empire Writes Back, in which they remark that the “ ‘revisioning’ of received tropes and modes…and the rereading of ‘canonical’ texts possess a powerfully subversive textuality, which emerges as the major post-colonial discursive practice” (Empire 194).

They argue that revision in a periodic modality has become the preeminent genre for writers of the colonial arena. Allusions to the Western classics and the borrowing of the Western model are not accidental. Those who grow up in colonial cultures are encouraged to imitate their Western fathers (Key 139).

Admittedly, the notion of mimicry, in the form of imitation, is effectively combined with the notion of revision of colonial terms. As Ashcroft, Griffiths, and Tiffin note, “When colonial discourse encourages the colonized subject to ‘mimic’ the colonizer, by adopting the colonizer’s cultural habits, assumptions, institutions and values, the result is never a simple reproduction of those traits” (Key 139).

The result, rather than a mere copy or mockery, is the “blurred copy”, ambivalent and menacing. Ashcroft, Griffiths, and Tiffin argue that mimicry is the overt goal of the postcolonial projects. They take V.S. Naipaul’s novel The Mimic Man as an example to illustrate that mimicry is implicit in postcolonial conditions (Empire 88).

Get your 100% original paper on any topic done in as little as 3 hours Learn More According to Ashcroft, Griffiths, and Tiffin, literary revisions as mimic texts that stylistically and generically imitate Western classics disable the imperial center and spread disorder on the margins of empire. In mimicry, the dominant discourse constructs Otherness by a continual process of “repetition and displacement” to maintain control over the other. Mimicry serves as a partial representation that disturbs and mocks the narcissistic desire of colonial authority (Empire 115; Key 139-142).

Ashcroft et al. point out the disabling effect of colonial mimicry as it constructs an “otherness”, menacing the imperial discourse. Bhabha stresses the double vision of mimicry, its resemblance and menace evolving from the process of representation. These criticisms, although laudatory, have overlooked gender differences. I believe that colonial mimicry should be discussed and racial and sexual differences should be examined.

Due to my thesis topic I am very interested in the matters of postcolonial hybridization. Ashcroft, Griffiths, and Tiffin in their seminal study note that various postcolonial cultures produce a form of hybridization.

They argue that postcolonial literatures are intrinsically hybrid because they reveal inherently contradictory elements of different discourses that result from the translation and imposition of European thinking, grounded in ancestry, history, and time, onto a colonial space. The history of the dominant culture is exported to different colonies, but the amputated timeline makes the colonial history replete with internal competing voices (Empire 33-7).

Another point that drew my attention is the matter of language importance. Language has been regarded as an important medium by which colonial hierarchy is perpetuated and imperial domination is reified (Empire 7). The metropolitan assumptions of truth, order, and civilization are maintained and reinforced by an imperial language education that “installs a ‘standard version’…as the norm, and marginalizes all ‘variants’ as impurities (Empire 7).

Language is given a capacity to territorize. In the formation of imperialism, the King’s language, the center, with its Eurocentric standards of judgment, is the privileged form; the marginal or peripheral is denied or excluded.

A dispensation standard was instated at the crux of the development of English studies as a cut-out for the defiance of the value of the subsidiary uncolonized literature. The standardization became central to the civilizing enterprise by the colonists who sought to hue their subjects with their norms and practices in order to vanquish and subdue their cultures so that they can have an overt dominance over them in all spheres of their collective lives.

We will write a custom Term Paper on Revision and reversionary in The Empire Writes Back specifically for you! Get your first paper with 15% OFF Learn More Essentially, when the indigenous sought to disentangle themselves from the spooling supremacy their tactical move threatened the restricted claims of the centre (George 112-116). Consequently, they were subtly integrated this through the process of conscious affliction arranged under the semblance mimicry purposely to be both accepted and adopted.

This stir notably propelled those who were suspending at the periphery to It plunge themselves into the imported culture, consequently, denying their origins and as (Harris 133) puts it they attempted to become ‘more English than English essentially, English stands out as a sacrosanct tenet positioning its dominance over the other cultures, its unquestioned nature exerted its potency in cultural formation and in ideological schooling institutions (Memi, 28).

Nonetheless, with the advanced growth and development of the post colonial literatures, scholars have sought to establish why English garnered such dominance in the educational realms exerting its rule in the literal cycles.

After a keen scrutiny at the literature written after the upsetting colonial era, I established that the work produced immediately after the wallowing colonial eon went through various stages of development. At first, it was written and aligned with the colonial objective, neither did it display the ingenuous sentiment of the native writers, nor did it stand out as an original English text (Memi 76).

It couldn’t be deemed as a blend of the local with the colonial, it was a mimicry which lacked basis and an underpinning dangled in a balance where it could not assert its stand for it was a copy of the original. The paranoia and the dread of the colonial masters suppressed the native writers from lettering what they candidly believed; their creative work had to be forfeited and shelved because they lived under the shadow of colonial ascendancy.

The original work was tackled and handled in accord with the colonial master hence it had to be attuned to match up their interests and proclivity. Most of the original indigenous work was translated by the colonial masters, logically they molded it to fit their interests and convey the message they intended to convey to the world.

During the second stage of the literature development, the writers sought to blend what they believed to be true as they had learned and construed from their cultures yet they had to tone it down because they viewed the world through the lens of the colonialists (Memi, 31).

As Ashcroft et al focuses on; the conflict elicited by variation in the context and content in regard to background orientations they assert that the thinking and creativity of the invaded culture had been shaped through the educational program which was systematically programmed by the imperialists to sway their thinking to favor colonial rule at their own exepense.

Not sure if you can write a paper on Revision and reversionary in The Empire Writes Back by yourself? We can help you for only $16.05 $11/page Learn More Their minds had been colonized and brainwashed adjusted to think in favor of the colonial ruler so their written text was still tainted with the spots of the imperialism. The breed thus spawned out of the colonial influence could not be termed as English neither could it be termed as indigenous it became a hybrid, tethered by the colonial influence (Griffiths 178-180). The stages in literature development are evidently paired with the phases of both national and the regional consciousness in the plagued societies.

It’s against this back drop that a new breed of freethinking literature intellects sort to revisit and revise the already published post colonial literature in order to give it and edge to stand out free from the colonial manipulate.

Whilst the invaded civilizations sought to equivocate and purge the imperial influence in their literal work, they were ensnared by the very fact that the imperialists gave them the communication language through which they could spawn ideas and reach an extensive audience. The regal rule was the platform through which they could aver their work; in essence they were made from a replication of the fellow colonists but they could not match up the imperialist (Memi 76).

The imperial domination over the local cultures spawned forth intrinsic challenges which garnered problems seeking resolution. In an inimitable way the domination is inexorably entrenched in the dominated cultures. I realized that there were various tensions which could not be disentangled in the post colonial literature.

There two world orders being enmeshed despite their divergent attributions, there was a clash between the old cultural aboriginal ways of life with the incoming dominating settler culture (Ngugi 86). In my view the settler culture sought to assuage the old style indigenous culture by imposing its values and provenance and this of course was broached with dissent from the dominated culture.

According to the book the new culture brought in by the settler was incongruous with the old native culture; there was resistance because the native populace was deeply entrenched in its own systems which were by far very different from the settler culture (Memi, 49). There was the ever nagging clash of the language, the newly imported language from the settler did not match with the new locality, and hence the settler had to impose his language on the native people in order to have a universal accord with his subjects.

I realized according to the literature that the colonial influence from the indigenous literature was nearly impossible, because the essence of the literature being revised was etched in the colonial insignia. Colonialism had given it subsistence; colonialism frog spawned the post colonial literature myriad facets of its content were interwoven having their root in colonialism.

Whilst language served as the media through which the colonialists exerted their rule over the subjects its still the same media through which the work written by the indigenous writers garnered pre-eminence due to its universal nature having exerted its rule in the world.

I realized that irrespective of the relentless exertion by indigenously bred writers from the colonialzed countries to curve out a niche in their texts to illumine their intrinsic cultures, values and attributions the hybridization of their mores by the colonial rule perverted their literature so that it does not come out as either aboriginal or imperial.

There is an inevitably effort to assert a variation between the local culture and the imposing centre of the colonialists (Ashcroff 63). Notably, in all the literature written immediately after the colonial period, there is an allege to remain objective in the matters being discussed yet after a deeper analysis it becomes clear that there is a deliberate effort to conceal the colonial discourse within which the literature was created (Ashcroff et al 94)

Here the hurdle is on the budding writers, the by products of the colonial governance and dominance, how can they evade their models, in what way are they able to sort and understand the imposition of new trends and values? The new information and knowledge they derived from the colonialists has to be matched with their cultures and intrinsically attained attitudes.

I found out that writers sought to identify any extensions of what they already knew in order to develop their texts from their own stand point yet the looming imperial influence chiefly altered their innovation blending their prior knowledge with the imposing colonial attributions and values.

The colonization occurrence and the myriad hurdles spawned by the experience garnered a new breed of writers in English language. The diverse and potent body of literature created unambiguous post-colonial writing in the various cultures affected by the colonial dominance which both defied the customary canon and overriding ideas of literature and culture.

The instant literature produced from the invaded countries identifies with the colonizing powers because the initial text is produced through coordinated activity of the colonized and the colonizers (Memi, 22). In my opinion such literature cannot in any way form a foundation for the indigenous cultures because its production is marred with the colonial intrusion.

Colonial rule essentially dominated and subjugated the indigenous culture, reeling under the austere rule of the imperial power; the writers spawned from the native culture had to adhere to the modalities of the colonial rule (George 52). The literate too has been aligned to match up the interests of the colonizers, the values and beliefs in the native cultures are subdued under the prevailing colonial dominance.

The number one strategy that the European settlers, the former colonies used to subdue and rule the indigenous civilization is by imposing their language on their dominated cultures.

This way they stamped a symbol of their supremacy over the culture reeling under their authority. Moreover, other facets of the colonizers civilization like education and moral codes were imported and vehemently instilled into the dominated cultures. Consequently, the indigenous cultures were overwhelmed and subdued under the colonial callous rule.

The settlers had a goal of imbibing into the resources and facilities of the native cultures, in order to exert their rule over such people they had to pacify and suppress them deeming their cultural elements as both uncouth and invalid (Ashcroff 45). This kind of approach was geared towards swaying the mode of thinking amongst the natives so that they venerated the foreign cultures at the expense of their own.

As the dominated cultures gradually attained their independence they could not phase out some tenets from the imperialists which had been inherently entrenched in their culture by the settlers. Such tenets included language and educational systems so the non indigenous language filtered its way in to the native culture and was easily utilized in the post colonial literature.

There was sense of displacement as the indigenous people held on to the imported language deeming it as an adequate media through which they could express their views. I noticed that the colonizers did not delve into enlightening the native cultures on the richness of their own language; this meant that the local language lacked rank and they feared that once they utilized it in their literature it would bring ruin since it was popularized by the colonial powers.

This was logical because even the education they had attained was conveyed through the imported settler language. Critics have subsequently come out to question the appropriateness of utilizing imported language in native cultures. Harris asserts the view that such brain wash was ensconced through the education system where the native civilization was debased in comparison to the imported culture which was given prominent extol.

The colonial rule dominates the native culture, as the imperialists stealthily crept into their culture and imposed their values on the indigenous people the old culture is progressively undone as guns and new language filter amongst the locals. The words and the diversity of culture from imperialists is aped and gradually etched in the minds of the native cultures as they follow blindly into dominating circular ways of the imperialists which swallow their ways from within.

As time elapses whether it’s in Canada, Africa or India, myriad revisions to the literature written immediately after colonial rule has to be taken through a rigorous revision in order to ape the intrinsic indigenous culture. The now elite and unconventional generation seeks to unshackle the previous literature from the dominating forced lens of the colonialists through which the work was spawned. Ironically, the revision is done in the same colonial language; Kafka uses German while Chinua Achebe uses English.

A major attribution exuded by the dominated literatures is the foreseeable tendency towards insurrection and a keen analysis of the tactics employed by the dominating rulers in their effort to pacify and rule over their subjects. The studies carried by the dominated scholars to illuminates the strategies of subjugation bring into light all the configurations of supremacy of the dominant cultures.

Conversely they also pay attention to the ingenious and imaginative responses exerted by the dominated cultures to this condition openly and obliquely. Thus empires writes back to gear to the imperial axis through nationalist contention asserting its centrality exuding its overt determination to seek answers on European metaphysics challenging the world view that can polarize centre and margins in the first place (Harris 67).

Works Cited Ashcroft, Bill T. Key Concepts in Post-Colonial Studies. New York and London: Routledge, 1998.

Ashcroff, Bill T. Post colonial futures: Transforming the imperial culture. London: Routledge, 2001.

Ashcroft Bill, Griffiths Gareth and Tiffin Helen. The Empire Writes Back: Theory and Practice in Post-Colonial Literatures. New York and London: Routledge, 1989.

George, Lamming G. The pleasures drawn from exile. London: Alison and Busby Publishers, 1960.

Griffiths, Gareth G. Double exile: African and West Indian writing Boyars Marion. NY: Kniff, 1978.

Harris, Willy C. On History Myth and Fable. Chicago: Calaloux publications. 1970.

Harold, Bloom T. Agony: Towards a Theory of Revisionism. New York: Oxford University Press, 1982.

Memi, Waltz A. Understanding the colonizer and the colonized. Boston: Beacon Press, 1965.

Ngugi, WA T. Mind Decolonizing: Language use in African literature. London: Macmillan press, 1981.

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