Interaction nexus between real estate market and macroeconomics

Interaction nexus between real estate market and macroeconomics In this chapter, I will review the existing researches about the interaction nexus between real estate market and macroeconomics while analyzing and summarizing the data structure and the methodologies used. Considering Chinas specific national conditions and policies, I will shed light on Chinese housing empirical studies, and estimate their research from different economic aspects, expecting to provide a useful perspective for my further research. Housing price is the price formed by both supply and demand sides in the real estate market. According to the fluctuations in property prices in each country, housing prices generally have three characteristics: periodicity, city differences, and bubble. Periodicity refers to how real estate price fluctuations are cyclically or periodically associated with both microeconomic and macroeconomics fluctuations. Early in the 1960s, after Richard Muth (1960) rigorously developed a housing market competitive theory, a lot of economist studied the housing market from the perspective of microeconomics. In 1969, under a lot of assumptions, Olsen (1969) found that if the housing market were perfectly competitive, the poor would not pay more per unit for housing. However, in the survey done by Richard Arnott (1987), which reviewed the microeconomic modeling of the housing sector developed at that time, it was found that even if the competitive theory of housing market is reasonably sophisticated and well developed, it is still hard to ascertain the adequacy of it in explaining the effects of a particular housing policy since there are no well-articulated alternative models. Then, in later years, scholars focused more on the study of the relationship between the real estate market and macroeconomic fundamentals. According to business cycle theory, there is interaction between real estate prices and macroeconomic fundamental variables. One or more macroeconomic variables will cause fluctuations in real estate prices, but, in the meantime, changes in the real estate industry also will lead to macroeconomic volatility. In the change process, they formed a mutually reinforcing interaction mechanism. On the basis of the existing literature, macroeconomics affect real estate prices primarily through the real estate supply and demand, which can be subdivided into GDP, income, consumption, interest rates, exchange rates, inflation, construction costs, land prices, bank credit, and other basic economic variables. In order to understand the impact of real estate price fluctuations on the macroeconomics, most existing studies analyzed from the perspective that the prices affect total consumption and total investment. Since there is a close relationship between real estate prices and macroeconomic volatility, the empirical research of their interactive relationship has always been very important in the field of economics. At present, the relevant research literatures can be divided into two categories: (a) The first type mainly analyzes the relationship between real estate prices and the whole macroeconomic fundamentals; (b) The second type analyzes the relationship between real estate prices and one or several specific macro-basic variables (GDP, income, interest rates, investment and so on). We will now detail the two types. 2.2 Housing prices and macroeconomic fundamentals The real estate industry has become a mature industry in many developed countries. According to existing literature, most of the economists empirical research is derived primarily from the perspective of equilibrium theory. Based on the traditional regression analysis model, they used more independent linear systems, numerical economic models and others to analyze the dataGenerally speaking, the macroeconomic fundamentals will affect the investment, credit, and also, the change of interest rate will affect the supply of real estate. On the other hand, economic growth will affect the income and thus affect the demand for real estate. According to equilibrium theory, under the market competition mechanism, the market will eventually be cleared through real estate prices. However, Case and Shiller(1987, 1989, 1990) found that the housing market does not appear to be very efficient; it is contrary to the efficient market hypothesis. Then, in Clapp and Giaccottos study (1994), they not only confirmed Case and Shillers (1987, 1989, 1990) result but also found macroeconomic changes have a good predictive ability for real estate prices. Clapp and Giaccotto (1994) used the data of East Hartford, Manchester, and West Hartford over the period from October 1, 1981, to September 30, 1988, with 2 methods: the repeat sales method and the assessed value (AV) method. They found that the local unemployment and expected inflation have considerable forecasting ability for the housing prices; and compare with the first-time house, the repeat housing index is more sensitive in the short run due to the lagged economic factors; It showed the housing market does not meet the efficient market hypothesis (Clapp and Giaccotto, 1994). With a much longer data set than common literature, Holly and Jones (1997) provided a more comprehensive perspective on the behavior of housing prices in UK. In order to seek the co-integrating relationships between housing prices and long run, they ran a regression with the housing prices and economic factors such as real income, the user cost, and building society lending. The results showed that, with the exception of population, almost all the factors were rejected at the 1% level in the unit root test, and that the most important determinant of real housing prices was real income; the dynamic adjustment of housing prices is asymmetrical; it depends on whether housing prices are below or above the long run equilibrium. When housing prices are above equilibrium, they seem to adjust back more quickly (Holly and Jones, 1997). But, Brown, Haiyan, and McGillivray (1997) thought that since the early 1980s, the UK housing market had suffered a number of structural changes; consequently, the parameter was instable, meaning those models that assume the underling data-generating process are not appropriate. Under an assumption that the economic system is unstable, they adopted the Time Varying Coefficient (TVC) methodology, and found TVC specification outperforms the alternative constant parameter specifications of housing prices. Because most of the models have failed to predict the 1992 housing price downturn, part of further research was planned to use the TVC specification to examine the models forecasting ability beyond 1992. Using the data in the past 25 years of 6 European countries (France, Germany, Italy, Spain, Sweden and the UK), Iacoviello (2002) established dynamics of house prices by using a tractable value at risk framework in a straightforward way, which we call SVAR model. He pointed out that house price inflation is highly sensitive to the forces driving economic fluctuations; different housing and credit market institutions play different role in the IS-LM Phillips curve paradigm, but this relationship might change with the changing of institutions; in addition, regulatory legal structure and new monetary policy also will affect that relationship (Iacoviello, 2002). Similarly, using the SVAR model, DeHaant and Sterken (2004) studied 13 developed countries real estate markets. Their results showed that, to one country, compared with stock, housing plays a more important role in consumption and output; when housing price raise 1%, consumption will raise 0.75%; when housing price raise 1.5%, GD P will raise 0.4% (DeHaant and Sterken, 2004). In the Asian market, Quigley (2002) pointed out that, although most of the existed models can generate patterns of housing price changes over time in response to varying conditions in economic fundamentals, there was little research on the effect of changes in property markets upon subsequent economic conditions. With his empirical study, he determined that economic fundamentals do not explain most of the variation in the housing prices in short run, and that there were many bubbles in Asian property market during the late 1990s (Quigley, 2002). At the same time, Miki Seko (2003) adopted the SVAR model to analyze the Japanese housing prices. In his paper, the results showed there is a strong relationship between Japanese housing market and its economic fundamentals; and by analyzing the economic factors, the development of the real estate market can be predicted (Miki Seko, 2003). It is clear that housing is not just a normal consumption goods, it is a large share of the overall macro-economy. Significant fluctuations in macro-economy would cause significant volatility in housing market. On the other hand, the volatility in housing market also implies the fluctuations in macro-economy. However, the interactive nexus between housing market and the different aspects of macro-economy is different. Thus, besides the studies that analyzed the macro fundamentals-housing market, some economists study from different angles to examine the interactive nexus between housing market and one or several specified macro variables. 2.3 macro-basic variables 2.3.1 Supply and demand Theoretically, price is determined by supply and demand sides. In the housing market, the relationship between supply and demand is formed by many macroeconomic factors, and with the changes in these factors, supply and demand continues to change. Therefore, some economists thought the greatest impact on housing prices comes from the supply and demand, and have dedicated their research in this area. Normally, in the real estate industry, the supply side is mainly affected by land price, facilities costs, construction tax, construction exploration and design cost, and so on. And, among them, land price is the most important factor. Since housing is a product, it is not just a demand price, but also a supply price. In the real estate economic activities, land purchase and development is the beginning and the foundation, and land purchase cost is the most important part of housing costs. From the supply perspective, the land price fluctuations are an important factor in housing price volatility. On the contrary, due to land supply is restricted by the natural; there is a lack of flexibility. Therefore, land price is mainly decided by its demand side, which is mainly composed by the real estate business. The real estate industry has a huge impact on the land market as well. In order to examine the interactive nexus between housing price and land price, Peng and Wheaton (1994) analyzed the Hong Kong market. Because Hong Kong is a small island with a fixed boundary, it would be clear what the influence of land supply on housing prices. Using a modified stock-flow model, their results showed that the supply restrictions in Hong Kong have caused higher housing prices but not lower housing output (Peng and Wheaton, 1994). Similar outcomes can be found in Alyousha and Tsoukis (1999) study. They employed the quarterly data from England and Wales from the period Q1, 1981-Q2, 1994 to explore the implications of intertemporal optimization for house and land prices (Alyousha and Tsoukis, 1999). Adopting a simple housing flow supply model, which is based on the Euler equation (Hall, 1978), they found that, under a perfect competition, house prices are co-integrated with land prices and house building costs. But, through the Granger test, Hall (1987) found housing price is not the land prices cause. Also, after an econometric analysis of American cities, Edward, Joseph and Hilber (2002) determined that land price was positively correlated with regional economic development, the level of human capital, and have no direct relationship with housing price. As for demand side, existing research usually examined from the aspects which are disposable income, GDP, property taxation, population and so on. There is a large diverse literature related to the housing and taxation because it is clearly that property taxation would directly affect the housing purchasing decisions, and further affect the housing demand. Just like United States, the tax system seems to favor housing ownership in many countries. Thus, Dimasi (1987) employed a computable, spatial general equilibrium model; and found out that differential tax treatment on land and capital can cause a significant social welfare loss. Many other general equilibrium models also found out tax policies that favor the housing sector would lead to a significantly negative impact on both housing sector and aggregate income. From another special perspective, Mankiw and Weil (1989) examined the relations between demography-induced changes in housing demand and real house prices in the United States. They thought that the Baby Boom generation into its house-buying ages was the major cause of the increase in housing prices in the 1970s and the housing demand would grow more slowly in the next decade because of the population structure. Changes in housing demand will further affect the housing price (Mankiw and Weil, 1989)). However, unlike the estimations of Mankiw and Weil (1989), Gary and James (1990) using postwar data from Canada, and found that even if the demographic patterns were similar in Canada and United States, the aggregate time series correlation between shifting demographics and real house prices is distinctly different. From the empirical analysis, they considered there is a statistically insignificant, but in most cases, demographic demand is negative associated with house prices (Gary and James, 1990). 2.3.2 Monetary policy Generally speaking, as an overall policy, monetary policy is mainly concerned to control the trend and fluctuations of aggregate demand; the impact on the real estate market and the sensitivity of the housing price should be limited. However, as the changing in the structure of global financial markets and developing in real estate industry, the nexus between them has become more and more close, financial sector has become an important reference index in the housing market. It is also proved in Alan, John and Brians (2005) study. They found, in eighteen major industrial countries, certain financial conditions (ample liquidity, low interest rates, and financial deregulation) were usually present in past housing price surges, and could conceivably raise the probability of the intensity or the occurrence of the rise. As for interest rate, considering from the supply side, when it decline, real estate investment and real estate mortgage loans will continuously pour into the real estate industry, and promote housing prices continuing to rise. But, as for the demand side increasing in interest rates will directly affect consumers credit repayment costs; so that some consumers would out of the housing market, which affecting the real estate demand, and further led to corresponding changes in real estate prices. By studying the impact of real and nominal interest rates on real estate prices, Harris (1989) thought that changes in real interest rates could explain the market price level; nominal interest rates affect housing price only when the real estate value is expected to rise. Among the monetary policy, bank credit and investment are the most important determinates. As the real estate industry is capital-intensive industry, and most of the funds come from the bank credit and investment, the change in bank load will significantly affect the supply of real estate industry. Besides, a large part of real estate loans are mortgage loans, the value of real estate products in the market determines the size of the loan amount in this industry. In 2004, Davis and Zhu (2004) discovered, in the long term, bank credit is positively correlated with house prices, and effect of housing price on the bank credit is very significant, but in their paper, the reverse impact was still uncertain. Matteo (2005) developed and estimated a monetary business cycle model with nominal loans and collateral constraints tied to housing values. Since collateral effects allow the model match the positive response of real spending to a housing prices shock, Matteo (2005) found fall in the housing prices will reinforced the impact negative monetary shock on real rate, consumption and output. Similarly, based on the Hong Kong sample, Gerlach and Pengs (2005) thought property prices would determine bank lending, but, it was interesting that they found bank lending does not appear to influence property prices in Hong Kong. 2.3.3 Cycles Empirical evidence shows that there is a cyclical movements and volatility in the housing market, and obviously, this kind of cyclical movements would relate to the economic cycles. Economics found that it would be useful and interesting to explore these movements in the housing market, thus many studies examined the housing-economy cycle relationship from both qualitative and quantitative aspects. Greenwood and Hercowitz (1991) and Baxter (1996) build up a dynamic general equilibrium models to reproduce the co-movement of business and residential investment that observed in the US. Davis and Heathcote (2001) also considered that, in the US, the residential investment lead the cycle while the non-residential investment lags the cycle, and this co-movement between housing market and macro-economy has been documented for several countries. Also, economics often analyze real property market tie to long cycles. Gottlieb (1976) considered, the amplitudes of housing cycles are larger than typical business cycles, and the periodicity might be significantly longer than those of the business cycle. For instance, Ball (1998) showed, in UK, new commercial property cycles have a 10 years duration while they are independent of the business cycle. Employing the cross-country data and the Kalman Filter technique, Ball (1999) again found significant long cycles of new construction, which with periodicity of 20-30 years in both residential and non-residential real estate markets. As we can see, the importance and sensitivity of real estate prices attracted a large number of scholars to concerned. Based on the review above, the existing literatures are mainly adopting the cross-section data and time series data, so that the specific econometric methods of housing models are mostly focusing on: traditional ordinary least squares model (OLS), value at risk model (VAR), tractable value at risk framework in a straightforward way (SVAR), co-integration and so on. 2.4 Empirical evidence in the Chinese context Compare with developed countries, Chinese real estate market started relatively late. But along with Chinas rapid economic development, the real estate industry is also showing a good development trend. As real estate investment occupies a very high proportion of total investment in fixed assets, and the volatility in real estate market is closely related to macroeconomic and national policy, the issue of housing prices is not only related to a citys development, but also related to financial security and the living cost of ordinary people. Thus, Chinese economists have also attached great importance to the development of the real estate market, and conducted extensive research. However, since the late development of Chinas statistical system, the database is not perfect, most of the Chinese scholars just analyzed the relationship between housing market and macroeconomic theoretically, empirical studies are relatively small. 2.4.1 Fundamentals First, because of the importance impact of macro fundamentals on real estate prices, using appropriate data and models to estimate the nexus between them has always been the focus of Chinese economists. Adopting the housing index and macro fundamental data (1995-2002) of 14 cities, Shen and Liu (2004) employed a mixed regression, and empirically examined the relationship between housing prices and economic fundamentals. The results showed the impact of macro fundamentals on housing market is quite different in different cities. The explain model was significant affected by the city characteristics (Shen and Liu, 2004). Song and Wei (2009) using a co-integration and vector error modified model, and considered that, in long run, there is a long-term stability of the dynamic equilibrium between real estate prices and macroeconomic; but when short-term imbalances, it becomes into a negative feedback mechanism. Song and Wei (2009) also found that fluctuation of GDP and inflation is the Granger cause of housing price volatility and the impact of interest rates is not significant. Based on partial least-squares regression (PLS), Wang and Xie (2010) estimate the annual data of China within the period of 1999-2008. They thought land prices, capital size and national wealth are the top three factors that affect Chinas price changes at present; although the influence of long/middle-term loan rate is weak, money supply do play a very prominent role in Chinas housing prices volatility (Wang and Xie, 2010). In addition to the analysis of real estate market and macro fundamentals, Chinese economists also studied the housing market from different economic perspective and tie to their own national circumstances and policies. 2.4.2 Land price As the reforming of Chinese housing system and land system, the housing sales prices were climbing higher and higher until the financial crisis in 2008, but, after a short depression, the price still maintain the rising trend. General view is that, due to the land purchase cost is the main cost which constitute the housing costs, high land prices is the main reason of high housing prices. Especially after the Ministry of Land Resources released two new policy  [1]  of land sale, more people think that the skyrocketed of housing prices is because of the high land prices. The policies require that any commercial, tourist, entertainment, commercial housing and other kinds of business land must be transferred by tender, auction or listing mode. After the new land policies, the land transfer cost rose sharply; and almost in the same period, the housing prices have skyrocketed as well. Thus, from the point of view of China Real Estate Association, Yang (2003), Bao (2004) and Cheng (2004) thought since a large number of land transactions using auctions, land prices increased dramatically. And land purchase costs account for 30% percent of the housing prices, hence construction costs raised, further driving a rapidly rise in housing prices; this Cost-push theory was also supported by a large number of real estate developers (Yang, 2003; Bao, 2004; Cheng, 2004). But, Ministry of Land Resources hold the opposite view. Deputy Minister Fu (2006) considered that even if the tender, auction or listing transaction mode will lead an increase in land prices, it might not raise the housing price, the most important factor affecting housing prices is still supply and demand in the housing market. On the contrary, Fu (2006) thought, land is a production factor of real estate industry; the demand for land is generated by the demand for housing, therefore, huge demand in housing m arket and the rapidly increase in housing prices makes demand for land, and further drive the land prices rise. However, Wang and Wu (2009) did not agree both of them. Employing the panel data from 28 regions, they found, in China, although land prices promoting housing prices in long-run and housing prices driving an increase in land prices in both long-run and short-run, this mechanism depends on the region. Wand and Wu (2009) thought that the interaction between land prices and housing prices is different in different regions, so the relationship between them should be implement regional studies and cannot be generalized. 2.4.3 Bank credit After the 1997 Asian financial crisis, in order to stimulate economic growth, China implemented a proactive fiscal and monetary policy: repeatedly issued bonds, reduced interest rates several times, vigorously infrastructure; real estate industry become a national priority support industry and the financial sector continue to increase the real estate credit. But until now, Chinas banking system is still not perfect; most of the loans are mortgage loans, therefore, value of real estate products in the market will directly determine the size of credit. Typically, the credit will play two roles in the housing market. If the real estate prices cyclical rising, since financial institutions anticipate the housing prices can keep rising in the following, banks will relax lending conditions, thus, the increasing housing prices will directly lead to the upswing in real estate bank credit. Because of land and real estate products supply is very inelastic in the short-term, to some extent, the upswing in real estate bank credit will further push up house prices increase. By the same token, the decline in house prices leads to a decline in the quality of bank assets, reduce the size of bank funds, so banks will abate the amount of credit, which will further decrease the housing prices. Based on the panel data of credit and housing market, Li (2004) considered that among Chinas current macro-economic control policy, credit policy play the most significant role in the real estate market. He also believed the flexibility of supply side and demand side is different, so the impact of monetary policy on the supply is greater than that on demand (Li, 2004). Employing the error correction model and VAR model, Zhong and Yan (2009) thought that there existed a stable equilibrium relationship between the volatility of real estate prices and credit in long-run. After the Granger test, Zhong and Yan (2009) found real estate prices and the amount of real estate credit influence each other and they both are the Granger cause for each other. Studying on the East Asian financial crisis, Xiang and Li (2005) also believed bank credit expansion played a very important role in the formation of the real estate bubble in East Asian countries. Thus, in order to ensure the health of Chinas real estate development, it should strengthen the financial system construction and regulation (Xiang and Li, 2005). 2.4.4 Others In addition, through calculating the Lerner index  [2]  (Lerner, 1934) of the real estate market in China, Li (2005) considered the level of monopoly in Chinas real estate market is very high. Even if as the market economy developing, the competition in the real estate market will gradually get better, but this process will be very slow (Li, 2005). And from another special perspective, Yin (2010) thought the existence of North paradox  [3]  behavior (North, 1981) in the local government is an important cause of housing price fluctuations. Local government is lack of intrinsic motivation to stabilize the real estate market; local governments various rescue policies are also mainly based on the purpose of obtain more land transfer fees; thus just depends on local governments behavior can not maintain healthy and sustainable development of the real estate market, the central government should implement more effective macroeconomic policies (Yin, 2010). Comparing with foreign literatures, Chinas real estate market research also adopting cross-section data, time series data, especially panel data. Relevant econometric methods are: co-integration approach, Granger test, error correction model (ECM), and panel data model; in the meantime, the analysis about the impact of macroeconomic policy is also Chinese economists priority concerns. 2.5 Deficiencies However, for the following aspects, Chinas research is still inadequate: The studies on macroeconomic policy are more focused on the theoretical analysis; they are lack of a comprehensive empirical analysis. Currently, the analysis of macroeconomic fluctuations is mainly under an assumption of closed economy. But, with economic globalization, Chinas real estate market will be more affected by international economic development, so the discussion of the relationship between the real estate prices and macro economic fluctuations that under an open economy is more meaningful. There is no analysis of government expenditure in Chinas real estate literatures. However, according to macroeconomic theory, government investment will promote private investment, thereby affecting the real estate investment and price. So, the empirical quantitative estimation about the real estate prices and government spending will contribute to the in-depth analysis of the relationship between the government and the real estate market.

The Reporter & the Screenwriter Essay examples -- Analysis, Nathanael

The late Steve Jobs in his 2005 commencement address at Stanford University eloquently traced the imprint of a calligraphy class he had taken at Reed College years before to the creation of today’s worldwide standard in computer typography. Esteemed architect Frank Gehry can trace the imprint of his college job working in a museum to his current success, and moreover can trace the imprint of a different piece of art to each one of the buildings he has created. President Bill Clinton can trace the imprint of witnessing Martin Luther King, Jr.’s 1963 â€Å"I have a Dream† speech to his decision to devote his life to politics. However, in regards to the novelist and tracing the imprint of their work, it appears the dominate voice echoing through the pages of their novel is life experience. Two such novels that trace their imprint from life experience are Sister Carrie by former newspaper reporter Theodore Dreiser, and The Day of the Locust by screenwriter Nathanael West. In obvious ways Sister Carrie shares its subject matter with the newspaper. As it is well-known, the model for Sister Carrie’s main character is Dreiser’s sister Emma, who fled from Chicago to New York with her married lover after he stole money from the saloon where he worked. Dreiser based the character of Sister Carrie on family experience, but the novel’s origins are journalistic as well as personal. The entire New York City section of Sister Carrie, with its dual emphasis on the glamorous world of the theatre and the miserable existence of the tramp, mirrors actual newspaper stories of both Broadway and the Bowery. Men similar to Hurstwood in his downward spiral could be easily found in the newspaper. Dreiser may have written an article about a trap who, like ... ...dull, heavy labor,† West writes of the transplanted Midwesterner, â€Å"Their boredom becomes more and more terrible. They realize that they’ve been tricked and burn with resentment. Every day of their lives they read the newspapers and went to the movies. Both fed them on lynching, murder, sex crimes, explosions, wrecks, love nests, fires, miracles, revolutions, wars†¦ They have been cheated and betrayed† (West 177-178). The riot at the gala premier at the end of the novel is their revenge on the false promises of movies. Two very different stories written by men who let their life experience trace an imprint through the pages of their novels. Theodore Dreiser with the traces of the who, what, where, when and why of the newspaper reporter and Nathanael West with the traces of montage and dialogue of the screenwriter - both leaving their unending imprint as novelists.

In Man and Superman Shaw Was Not Writing a Regular Play Essay

In Man and Superman Shaw was not writing a regular play; he only united up dialogue, discussion, arguments for the purpose of making them appear as plays. Still the incidents of situations in the play do in one way or the other perpetuate the pursuit of man by woman—of Tanner by Ann. The most interesting is the Hell Scene where the traditional Don Giovanni motif is most comically inverted in the spirit of parody to substantiate Shaw’s thesis that it is the woman basically who is boa-constrictor from whom the new Don Juan flies away to save his person. The Hell Scene has been grafted on the plot from outside and it does not grow from the soil of the story. Its central business is to highlight the central motive of the play—the chase of man by woman as part of the process of Creative Evolution as well as the edification of hell as a most dynamic, therefore desirable condition of existence which ensures happiness of humanity. The metamorphosis of the characters like Tanner and Ann suiting the atmosphere is amazing; but soon the dramatic interest wanes as the arguments start rattling the pros and cons of the Scene. From the point of view of the force of the arguments the Hell Scene has significance, otherwise it looks just bizarre and from the point of view of the force of the plot extraneous. It cannot be denied that the Hell Scene is a most powerful tour-de-force of Shaw’s imagination. Shaw had added to the play a lengthy Preface, rich in thought and content and at the end we get the Revolutionist’s Hand Book and Pocket Companion. The overriding Shavian pre-occupation with his philosophy gets to be continued in Hell Scene. Whenever Shae has an opportunity, he expresses his views (although comically) on happiness, love, marriage, sex relations, women, art, socialism, democracy, industrialisation, religion, morality, virtue, sin, death, peace, war, slavery and a host of other topics. Shaw has been impartial enough to allow even the Devil to have his say and freely express his point of view. The spur behind all this is the assumption that woman is far from weak and helpless and that sexually woman is Nature’s contrivance for the perpetuation of human race. A more intimidating fact is, sexually man is woman’s contrivance for fulfilling nature’s behest in the best possible way. Possessed by the blind fury of creation, woman searches for a male biologically most desirable and when she finds him, she is most ruthless in her pursuit of him. The Don Juan in Hell Scene lifts up this basic theme of life-Force and Creative Evolution with Superman and Superwoman into the realm of Shavian-Socratic dialogue. Shaw comically swaps the Superman of Nietzsche (who was a ruthless being and an embodiment of might! ) by a new Don Juan; Tanner who sees life as co-operation with woman in its upward struggle. If the evolutionist’s account is accurate, life has developed in the waters of the ocean and the slime of the beaches until it reached the gigantic and long since extinct creatures that peopled the earth in pre-historic times. In his vision Tanner hears Don Juan say this to him. Life is a force which has made innumerable experiments in organising itself. He further tells him that as long as he can conceive something better than himself, he cannot be easy unless he is striving to bring it into existence or clearing the way for it: â€Å"That is the law of my life. That is the working within me of life’s incessant aspiration to higher organisation, wider, deeper, intense, self-consciousness and clearer self-understanding. † The Devil in his turn expresses himself eloquently and forcibly about man’s conduct in the world and takes a pessimistic view of him. He holds that human beings are both stupid and evil and on the road to utter destruction. Shaw makes a firm distinction in the process between his two functions as writer: the function of an essayist on the one hand and on the other, that of a playwright. The important difference is that a playwright has to put on the stage a number of characters whose opinions differ and clash for the vital element in drama in conflict. It may be physical conflict, the conflict of emotions, of ideas or even of beliefs. The audience watches and hastens to the conflict; it hears the characters putting forward opposing views; and having heard the arguments the members of the audience use their own thinking powers and reach their own conclusions. Much of what is said by the Devil in Man and Superman is fair statement of the parts of human behaviour is endorsed in other plays by Shaw. What is in doubt is the conclusion the Devil draws from the facts. Can man be saved from his own destructive tendencies? The Devil declares that he cannot. Don Juan believes that he can if he is given the great idea to live for—the great idea, for example, that man can, if he wills, can carry out the divine purpose (read the purpose of Life-Force). The brain will not fail when the will is earnest to Life, the force behind the Man, and intellect is a necessity because without it he blunders into death. Just as Life, after ages of struggle, evolved that wonderful bodily organ, the eye, so that the living organism ould see where it was going and what was going and what was coming to help or threaten, and thus avoid a thousand dangers that finally slew it, so it is evolving to date in mind’s that shall see, not the physical world, but the purpose of Life, and thereby enable the individual to work for that purpose instead of thwarting and baffling it by setting up short-sighted personal aims as present: â€Å"I sing not arms and the Hero but the philosophic man; he who seeks in contemplation to discover the inner will of the world, in invention to discover the means of fulfilling that will and in action to do that will. The supreme triumph of Shaw’s dramaturgical dialectics is to be found in the renewal of renovation of the 18th century image of Don Juan or rather the Spanish Don Giovanni. It is important because Tanner receives the mantle of the incendiary from this super human image. Of course, the method has been one of conversion of old materials in to 19th century terms, both thematic and technical. He rejects altogether the schism oIn Man and Superman Shaw was not writing a regular play; he only united up dialogue, discussion, arguments for the purpose of making them appear as plays. Still the incidents of situations in the play do in one way or the other perpetuate the pursuit of man by woman—of Tanner by Ann. The most interesting is the Hell Scene where the traditional Don Giovanni motif is most comically inverted in the spirit of parody to substantiate Shaw’s thesis that it is the woman basically who is boa-constrictor from whom the new Don Juan flies away to save his person. The Hell Scene has been grafted on the plot from outside and it does not grow from the soil of the story. Its central business is to highlight the central motive of the play—the chase of man by woman as part of the process of Creative Evolution as well as the edification of hell as a most dynamic, therefore desirable condition of existence which ensures happiness of humanity. The metamorphosis of the characters like Tanner and Ann suiting the atmosphere is amazing; but soon the dramatic interest wanes as the arguments start rattling the pros and cons of the Scene. From the point of view of the force of the arguments the Hell Scene has significance, otherwise it looks just bizarre and from the point of view of the force of the plot extraneous. It cannot be denied that the Hell Scene is a most powerful tour-de-force of Shaw’s imagination. Shaw had added to the play a lengthy Preface, rich in thought and content and at the end we get the Revolutionist’s Hand Book and Pocket Companion. The overriding Shavian pre-occupation with his philosophy gets to be continued in Hell Scene. Whenever Shae has an opportunity, he expresses his views (although comically) on happiness, love, marriage, sex relations, women, art, socialism, democracy, industrialisation, religion, morality, virtue, sin, death, peace, war, slavery and a host of other topics. Shaw has been impartial enough to allow even the Devil to have his say and freely express his point of view. The spur behind all this is the assumption that woman is far from weak and helpless and that sexually woman is Nature’s contrivance for the perpetuation of human race. A more intimidating fact is, sexually man is woman’s contrivance for fulfilling nature’s behest in the best possible way. Possessed by the blind fury of creation, woman searches for a male biologically most desirable and when she finds him, she is most ruthless in her pursuit of him. The Don Juan in Hell Scene lifts up this basic theme of life-Force and Creative Evolution with Superman and Superwoman into the realm of Shavian-Socratic dialogue. Shaw comically swaps the Superman of Nietzsche (who was a ruthless being and an embodiment of might! ) by a new Don Juan; Tanner who sees life as co-operation with woman in its upward struggle. If the evolutionist’s account is accurate, life has developed in the waters of the ocean and the slime of the beaches until it reached the gigantic and long since extinct creatures that peopled the earth in pre-historic times. In his vision Tanner hears Don Juan say this to him. Life is a force which has made innumerable experiments in organising itself. He further tells him that as long as he can conceive something better than himself, he cannot be easy unless he is striving to bring it into existence or clearing the way for it: â€Å"That is the law of my life. That is the working within me of life’s incessant aspiration to higher organisation, wider, deeper, intense, self-consciousness and clearer self-understanding. † The Devil in his turn expresses himself eloquently and forcibly about man’s conduct in the world and takes a pessimistic view of him. He holds that human beings are both stupid and evil and on the road to utter destruction. Shaw makes a firm distinction in the process between his two functions as writer: the function of an essayist on the one hand and on the other, that of a playwright. The important difference is that a playwright has to put on the stage a number of characters whose opinions differ and clash for the vital element in drama in conflict. It may be physical conflict, the conflict of emotions, of ideas or even of beliefs. The audience watches and hastens to the conflict; it hears the characters putting forward opposing views; and having heard the arguments the members of the audience use their own thinking powers and reach their own conclusions. Much of what is said by the Devil in Man and Superman is fair statement of the parts of human behaviour is endorsed in other plays by Shaw. What is in doubt is the conclusion the Devil draws from the facts. Can man be saved from his own destructive tendencies? The Devil declares that he cannot. Don Juan believes that he can if he is given the great idea to live for—the great idea, for example, that man can, if he wills, can carry out the divine purpose (read the purpose of Life-Force). The brain will not fail when the will is earnest to Life, the force behind the Man, and intellect is a necessity because without it he blunders into death. Just as Life, after ages of struggle, evolved that wonderful bodily organ, the eye, so that the living organism could see where it was going and what was going and what was coming to help or threaten, and thus avoid a thousand dangers that finally slew it, so it is evolving to date in mind’s that shall see, not the physical world, but the purpose of Life, and thereby enable the individual to work for that purpose instead of thwarting and baffling it by setting up short-sighted personal aims as present: â€Å"I sing not arms and the Hero but the philosophic man; he who seeks in contemplation to discover the inner will of the world, in invention to discover the means of fulfilling that will and in action to do that will. † The supreme triumph of Shaw’s dramaturgical dialectics is to be found in the renewal of renovation of the 18th century image of Don Juan or rather the Spanish Don Giovanni. It is important because Tanner receives the mantle of the incendiary from this super human image. Of course, the method has been one of conversion of old materials in to 19th century terms, both thematic and technical. He rejects altogether the schism of Byron and Tanner can be the rake or a mindless Philanderer as Byron’s Don Juan has been. Shaw’s claim to be returning to a pristine Don Juan is valid to the extent that the theme had originally been less of psychological than of philosophical or even indeed theological interest. It is true that Don Juan runs away from them only after possessing them. Tanner in Shaw’s play runs away rather to prevent them from possessing them. That old motif has been deliberately turned upside down in a vein of parody, embodying Shaw’s standard new motif. Shaw substituted an utterly Scribean closed structure. The Don Juan episode in Act II is neither a well-made play, nor a portion of a well-made play. It stands out apart as something appropriately more austere and august. As Eric Bentley points out, â€Å"It is not a traditional work of any kind, not even a Platonic dialogue, the relation between Socrates and his interlocutors being quite different. † Nor is it s debate for two of the speakers, the Commander and Ann hardly present arguments at all. They simply represent a point of view. Do even the Devil and Don Juan discuss anything between them? A Devil is scarcely a being one can convert to a cause: â€Å"and if the Don is busy convincing anyone it is himself. † Certainly it is the philosophy of Bernard Shaw that he parrot-preaches. But one doubts if persuasion is exercised by that on the audience. Rather, the contribution of the four presences come together as a vision of life and an intimating of super-life—Man and Superman. The comedy of John Tanner of the vision of Don Juan Tenoria—Shaw and counter-Shaw thesis and antithesis are to be sure, of separate interests, and yet, as usual, the great Shavian achievement is to have related one to the other. Tanner seems a wise man, proves a fool. Don Juan passes for philanderer but proves an explorer and a missionary of the truth. In our trivial, tawdry, clever, Scribean world intellect is futile and ever at the mercy of instinct. Take away the episode in Hell and Shaw has written an anti-intellectual comedy! The episode assigns to the intellect the highest role. No longer, therefore, is Ann the centre and source of things—only a possible mother for Superman. Here Don Juan dominates. Here (or rather in Heaven) intellect is at home, and the Don is cured of that occupational disease of Shavian Heroes of homelessness. â€Å"He comes to a good end†Ã¢â‚¬â€only it is not an end, it’s an episode, and from these celestial infernal heights we must descend to earth with the shock of Shavian anti-climax, to earth and to tanner, from Superman. f Byron and Tanner can be the rake or a mindless Philanderer as Byron’s Don Juan has been. Shaw’s claim to be returning to a pristine Don Juan is valid to the extent that the theme had originally been less of psychological than of philosophical or even indeed theological interest. It is true that Don Juan runs away from them only after possessing them. Tanner in Shaw’s play runs away rather to prevent them from possessing them. That old motif has been deliberately turned upside down in a vein of parody, embodying Shaw’s standard new motif. Shaw substituted an utterly Scribean closed structure. The Don Juan episode in Act II is neither a well-made play, nor a portion of a well-made play. It stands out apart as something appropriately more austere and august. As Eric Bentley points out, â€Å"It is not a traditional work of any kind, not even a Platonic dialogue, the relation between Socrates and his interlocutors being quite different. † Nor is it s debate for two of the speakers, the Commander and Ann hardly present arguments at all. They simply represent a point of view. Do even the Devil and Don Juan discuss anything between them? A Devil is scarcely a being one can convert to a cause: â€Å"and if the Don is busy convincing anyone it is himself. † Certainly it is the philosophy of Bernard Shaw that he parrot-preaches. But one doubts if persuasion is exercised by that on the audience. Rather, the contribution of the four presences come together as a vision of life and an intimating of super-life—Man and Superman. The comedy of John Tanner of the vision of Don Juan Tenoria—Shaw and counter-Shaw thesis and antithesis are to be sure, of separate interests, and yet, as usual, the great Shavian achievement is to have related one to the other. Tanner seems a wise man, proves a fool. Don Juan passes for philanderer but proves an explorer and a missionary of the truth. In our trivial, tawdry, clever, Scribean world intellect is futile and ever at the mercy of instinct. Take away the episode in Hell and Shaw has written an anti-intellectual comedy! The episode assigns to the intellect the highest role. No longer, therefore, is Ann the centre and source of things—only a possible mother for Superman. Here Don Juan dominates. Here (or rather in Heaven) intellect is at home, and the Don is cured of that occupational disease of Shavian Heroes of homelessness. â€Å"He comes to a good end†Ã¢â‚¬â€only it is not an end, it’s an episode, and from these celestial infernal heights we must descend to earth with the shock of Shavian anti-climax, to earth and to tanner, from Superman.

Is Sex Education Necessary in School - 1123 Words

Is Sex Education Necessary in School? By: Zainul Jum’ah Introducing sex education in the schools of India is an important issue. A 2007 ministry of women and child development study shows that over 50 percent of children are sexually abused. Sex is still considered a taboo in India. Parents feel embarrassed to talk openly with their children in this regard. Due to the ignorance of sex education they fall victim to AIDS and other sexually transmitted diseases. Many NGOs are trying to create awareness on AIDS. Sex education can help people to take decisions regarding health and sexuality. It is high time for sex-education to the introduced in schools for the benefit of the youth of the country. Introducing sex-education in the schools†¦show more content†¦This could make the children open up their problems and help the parents root out the cause. Interaction with the friends of their children also would give an idea about their background and the minds of the younger lot. The parents should take in their children as confidants and warm them against developing friendships with immoral friends. There has been a rise in incidents of physical abuse to children. According to a WHO study over 50 percent children have faced one or more forms of sexual abuse. Children fall victim to the advances of elders. According to a survey, 50 percent children are abused by people known to them. They keep silent and live with the trauma throughout their lives. Sex education can supply our young people with the tools to report and resist abusive behaviors, and provide them with a forum for expressing their fears and feelings honestly and openly. In a world, full of exploitation, children are the most vulnerable section of our society. They need to be taught the difference between gentle touch and bad touch in order to protect themselves from various forms of child abuse. Many psychologists have argued that sex education has the potential to liberate us from socially organized sexual oppression. In addition it helps adolescents come to healthy terms with their sexual identities and overcome feelings of guilt shame. During the period of adolescence childrenShow MoreRelatedGrounded Theory Guided The Identification Of Important Themes1090 Words   |  5 Pages1990). Results A total of 23 young adult males with average age of 21.7 years [range 18-25], with various religious backgrounds and level of education participated in the study. About 18 participants had completed their secondary school and just started college while another five had college-level education, and two were pursuing graduate level education. Two-thirds (n=15) of the participants reported their religion as Hindu (63%) and the remainder as Muslim (37%). While nine of the participantsRead MoreEssay The Argument of Sex Education in School1227 Words   |  5 Pages Audience Analysis: I am writing to the seven chairmen of the ___ County School Board. They are a made up of a group of five men and two women. They are most likely all parents who have a common concern on the material being taught on the issue of Sex Education in schools. Fellow parents vote on them to insure that they make the correct decisions on what their kids are learning in school. They are all from some form of the Christian religion. They are from ages 30 and older. They representRead MoreDana Hall Co-Educational .Doc937 Words   |  4 Pagesembrace co-education as opposed to single-sex education for their all girl boarding school? Right now it appears that given how strong some of the individuals in leadership feel as well as the teachers of the school that Dana Hall should remain a single-sex educational system. Elaine Betts must submit to the mission review committee the pros and cons of the issue so they can make a solid decision based on all the facts. What follows are the results of her research. Claims for Single-Sex Education Read MoreShould Sex Education Be A Part Of The Necessary Curriculum?1321 Words   |  6 PagesThe debate over whether or not sex education should be a part of the necessary curriculum has been a popular topic of controversy since the 1960s (Pardini). Sex education is defined as â€Å"[a] broad term used to describe education about human sexual anatomy, sexual reproduction, sexual intercourse, and other aspects of human sexual behavior† (â€Å"Sex Education†, Science Daily). Today in the United States, many people no longer feel that sex is a topic to be ignored or not mentioned in â€Å"polite society,†Read MoreSexual Education And Sex Ed1697 Words   |  7 PagesSexual education (sex ed) in public schools has long been a controversial and debated topic in society. 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Sex is a natural part of life, and when questions arise, they can be discussed in a matured way without condoning certain behavior. Relying to that, we realize that sex education is important to be inserted in a persons life. Therefore, s ex education in highRead MoreSex Education in Schools657 Words   |  3 PagesSex Education in Schools Nineteen-fifty five marked the debut of sex education programs in schools in the United States. Along the years, many have argued whether or not sex education should be taught in schools. Many believe that the education of sex encourages students to engage in sexual activities which lead to a higher number of pregnancies and sexual transmitted diseases (STD’s).The U.S. is the leading country in teen pregnancies and STD’s As the number of unplanned pregnancies and sexuallyRead MoreImplementing Sex Education in Middle and Elementary School Essay668 Words   |  3 PagesSex Education over the years has provided the necessary information about precautions, along with consequences that means to be sexually active. Moreover, it allows high schools to educate themselves about an aspect of their life that will always be important factor of their love relationship. Every action and decision towards any element in life will inevitably produce a result, and a response. The ignor ance of many teens leads them to make stupid decisions that can change their future. I support

Small Business and Market Materialism Uber - 1008 Words

Labouring The Walmart Way Wal-Mart is not just the worlds largest retailer. Its the worlds largest company--bigger than ExxonMobil, General Motors, and General Electric. The scale can be hard to absorb. Wal-Mart sold $244.5 billion worth of goods last year. It sells in three months what number-two retailer Home Depot sells in a year. And in its own category of general merchandise and groceries, Wal-Mart no longer has any real rivals.Wal-Mart wields its power for just one purpose: to bring the lowest possible prices to its customers.Deenu Parmar presents the fact as people will still continue shopping at Walmart without being concerned about their policies for their employees.Wal-Mart is a success because it sells products that people†¦show more content†¦This means that nearly $660,000 in wages is lost annually. Walmart may say they help people Live Better, But this study shows that communities will be much worse off, with lower wages and less money in the community. WalMart doesn’t produce new technology or innovations that improve the quality of life. It takes business from existing firms by offering the same merchandise cheaper. That’s all it does.It does increase the wealth of shoppers by allowing them to buy things at lower cost. But the major expenditures of a family aren’t for WalMart items; WM doesn’t sell houses, cars, or health care. WalMart is both a cultural symbol and is an economic force that proclaims free market materialism uber alles. It destroys other institutions based on relationships of human connection and solidarity -- be they neighborhood businesses or unions. WalMart helps transform people into anomic creatures whose lives are dominated by the search for bargains -- at whatever social cost.As long as we, the consumer, allow Wal-Mart to follow its current trend of undercutting and annihilation of small businesses, Wal-Mart will continue to destroy its communities, lie and turn a handsome profit at the expense of our welfare. If people were only consumers, buying things at lower prices would be just good. But people also are workers who need to earn a decent standard of living, says economist Larry Mishel ofShow MoreRelatedThe Sustainable Century By Design Or Disaster9705 Words   |  39 PagesContents Introduction – The Sustainable Century†¦ or not ............................................................... 3 Chapter One - Market Signals – The Lifeblood of Sustainable Capitalism ..................................................................................................................................... 12 Listening to a Sustainability Market Signal Moment ..................................................................... 16 Conflict Free Oil? ...........................Read MoreThe Sustainable Century By Design Or Disaster9705 Words   |  39 PagesContents Introduction – The Sustainable Century†¦ or not ............................................................... 3 Chapter One - Market Signals – The Lifeblood of Sustainable Capitalism ..................................................................................................................................... 12 Listening to a Sustainability Market Signal Moment ..................................................................... 16 Conflict Free Oil? ...........................Read MoreThe Different Purchase Motivation Of Consumers Who Seek Accommodations Essay9653 Words   |  39 Pagesof European cities and U.S., which impose on the traditional hotel chain within hospitality market (Interian, 2016). Due to these reason, different consumer would have different choice when they purchase accommodation, such as traditional five-star hotel and Airbnb accommodation. Consequently, understanding tourist consumer behavior and marketing is significant for hosts and hotels expand the potential market in the hospitality industry. To investigate the motivation of customers who choose accommodation

Ethno Religious Crisis in Nigeria Causes and Remedy.

ETHNO RELIGIOUS CRISIS IN NIGERIA: CAUSES AND REMEDY. BY MUHAMMAD GAMBO ISGOGO HASSAN ADAMU MAKUKU UMAR HAMIDU ALIYU ABSTRACT Introduction Nigeria is no doubt a populous nation of over 88 million (1991 population census) but as at now Nigeria’s population is estimated to be above 120 million people of diverse ethnic groups and many religions. Its people are differently distributed in the 36 states that made up the nation. In addition to this, the nation is blessed with many economic potentialities which help in the movement of the various peoples through the process of economic inter-dependence. Though abounds with human and natural resources, the country has since independence witnessed a number of inter and intra ethnic and religious†¦show more content†¦One could say at this juncture that, this suspicion and fear still shapes the relationship between the peoples of these various corners of the country. This is also the genesis of the subsequent crisis of ethnic nature in Nigeria. Today, Nigerians feel insecure in the regions other than their own. The sectional feeling further manifests i tself clearly in the unhealthy competition in all aspects of the government between the peoples of the North, West and East. Tensions between these peoples become more and more intensified with each trying to protect its sectional interest. On this note, Awolowo, cited in Ekeh, P.P. and Osaghae, E.E. eds blamed the British: For dividing the North from the South so thoroughly and effectively that the two were divergently and almost irreconcilably oriented4 With Federalism which was instituted to primarily to avoid one ethnic group dominating others and also protecting the interests of the minorities, the nation was once again split into regions, each with its autonomous power. In this political arrangement also, it was observed that: The colonial administrators have passed on to the Nigerian wards the prejudices which had enabled them think and act in the belief that this informal federation was a marriage of convenience between incompatibles 5. With this impression in the minds of Nigerian peoples, it becomes very difficult for them to workShow MoreRelatedSocio-Economic and Political Dimensions of Conflict4145 Words   |  17 Pagesconflicts in Nigeria alone. This is due to the fact that, as the most populous and heterogeneous nation in Africa, Nigeria has had its fair share of conflicts dating back to the colonial era. Again, all the conflicts that have been witnessed in the country can be said to have socio-economic and political undertones. But differently, conflict is a regular feature in Nigeria, due largely to the multi-ethnic and plural nature of the nation; as the various ethnic nationalities and religious adherents tryRead MoreState of Emergency: Legal and Political Implications in Nigeria5586 Words   |  23 PagesINTRODUCTION Emergency in ordinary parlance means a time of crisis, a moment of danger or suspense. A state of emergency therefore is a governmental declaration that recognises the existence of this peculiar situation and takes some necessary actions to restore the peace and governmental stability of the society. During this period, the maxim, salus populi suprema lex has a special force and to that effect, some normal functions of the executive, legislative and judicial powers may be suspended.Read MoreRastafarian79520 Words   |  319 PagesCongress Cataloging-in-Publication Data Edmonds, Ennis Barrington. Rastafari : from outcasts to culture bearers / Ennis Barrington Edmonds. p. cm. Includes bibliographical references and index. ISBN 0-19-513376-5 1. Rastafari movement. 2. Jamaica—Religious life and customs. I. Title. BL2532.R37 E36 2002 299†².676—dc21 2002074897 v To Donnaree, my wife, and Donnisa, my daughter, the two persons around whom my life revolves; and to the ancestors whose struggles have enabled us to survive and

A Study of Business Intelligence and Analytics

Questions: The different types of decisions made within the business environment and how this type of decision making works. The six elements of the business intelligence environment. The five analytical outputs that business intelligence systems utilize to provide correct and real-time information to users. Discuss how business intelligence and analytics support improved decision making. The benefits to a modern business of employing the use of intelligent techniques in decision making and knowledge management. How these systems are used to help people working in groups make decisions more efficiently. Discuss the systems that are used for improving enterprise-wide knowledge management. Answers: Introduction The topic which has been discussed here is related to the matter of Management Information System that has brought a revolution in the field of Information Technology. The Management Information helps an organization to take decisions on the base of business knowledge and management (Ballard et al. 2012). The developments include business analytics and intelligence. The topic discusses the impact of business intelligence and analytics in the improvement of the decision making in the business and managing the knowledge of it. Findings and Analysis Types of decision made within the business environment and its functions There are six types of decisions which are made within the business environment of an organization (Bonczek et al. 2014). They are nonprogrammed and programmed decisions, strategic and routine decisions, tactical and operational decisions, organizational and personal decisions, major and minor decisions, individual and group decisions. The lower level managers take the programmed decisions for the problems of repetitive nature such as issues regarding the purchase of raw material, granting the leave to an employee. On the other hand, nonprogrammed decisions are taken by the upper-level management in case of the problems where the solution is not quickly to find out (Botha et al. 2014). Such problems can occur in the event of inaugural of the new office of the organization. The routine decisions are frequently based on the organization's general functioning. The lower level managers take the decisions without much analyzing or evaluating it (Chang 2014). The strategic decisions involve massive investment and are nonrepetitive and require careful analysis and evaluation of the higher management. In the case of policy matters of the organization, the top management take the tactical decisions which have a long-term impact on the company. Such as decision regarding channels of distribution systems (Chen et al. 2012). The operating decisions are subjected on day to day functioning of the business. The organizational decision takes place in such case where the individual takes the decision as an executive in the official capacity. If the person takes the decision personally affecting his personal life, then it becomes a personal decision (Chiang et al. 2012). The major decisions are made by top management such as purchasing new factory premises whereas the office superintendant takes the minor decisions such as purchasing office stationery. The individual decisions are made by a single personality in case of routine work whereas the group decisions are made by a committee where maximum personal opinions are involved (Fleisher and Bensoussan 2015). In all types of cases, the management information systems provide support to take decisions which eventually gives positive results. As the decision meets the requirement, the solution comes out in accordance. The six elements of the business intelligence environment The six elements that consists the environment of business intelligence are as follows Business environment data It is unstructured and structured data that are required to be organized and integrated from various sources. The infrastructure of business intelligence To capture all the business process data of relevancy, a database is required (Loucks and da Costa 2013). Toolset of business analytics This toolset is needed for tracking the progress of the enterprise and for analyzing the data to produce reports. Managerial methods and its users The decision is made by the managers on the goals of a strategic business and how progress is measured by the utilization of the BI and BA tools (Maloney et al. 2015). The platform of delivery (ESS, MIS, DSS) It comes from the Business Analytics and Business Intelligence that goes to every individual in the organization. The interface of the user The scorecards and the dashboards which are used for presenting the results of BI and BA. The Business Intelligence system provides six analytic functionalities: Reports of the production These are the reports which are predefined and based on industry specific requirements. Reports based on parameters Several parameters are entered by the users in a pivot table for filtering the data and isolation of the parameter impacts (Power et al. 2015). Scorecards or Dashboards These are the visual tools for presentation of the performance data as defined by the users. Creation of the Adhoc query / search / report Creating reports by the users based on the search and queries. Drilling down Moving from high-level summary to more detailed view (Sangari and Razmi 2015). Scenarios, forecasts, and models Performing linear forecasting, analysis of what-if scenario and analyzing data using tools of the statistical standard. The five analytical outputs providing correct and real time information to users Business Intelligence is the toolset that supports the transformation of raw data into useful information for making decisions. It provides reporting functionality, tools for identification of a cluster of data, data mining techniques and analysis for prediction. The five analytical outputs that BI systems utilize to provide correct and real time information to users are the OLAP, Data Visualisation, Reports, Dashboards, and Alerts (Shah et al. 2012). These outputs provide the users a detailed presentation of the results of the query they generate as per their requirements. For an instance, forecasting of BI capability is a package of an analytical application for sales forecasting. Many different types of analytical outputs indicate multi-industry business functions such as workforce, supply chain. Other outputs are claimed analytics and antimoney laundering used in industry-specific cases (Sharda et al. 2013). The analytical applications can be focused on the variety of vendors and internal teams. It can also support transaction processing applications and inventory control and product purchasing. Discussion of support in improved decision making through BI and BA The companies normally focus on the development of business, in such case, it's very important for making a quick decision on the base of available quality information (Wang et al. 2014). Some of the companies are managing to give relevant and precise data to provide their decision makers. The organisations have realized the value of capabilities of useful business intelligence. In many companies, the technologies which are new cause an overload of information. It makes the decision makers confused with inadequate information. Some companies manage in providing decision makers with automatically consolidated and processed data that are presented in a format which is understandable (Zakane et al. 2014). The companies provide quick and profound decision making with the help of Business Intelligence capabilities and processes. The Business Intelligence is the research field that aims at practical and theoretical aspects for achieving the solid information base of making decisions. The Business Intelligence and Analytics report provide information for decision making (Zhang et al. 2013). For that purpose, it needs the perfect mixture of the architecture, data structure, data collection process, IT systems, responsibilities for providing meaningful information. As the companies get the amalgamation of these above mentioned factors through business analytics and intelligence, they come at the stage for making improved decisions for the cases they face (Wang et al. 2014). The decision makers have a sound knowledge of the domain they study, get a clear picture to suggest a solution. Benefits to a modern business of employing intelligent techniques in decision making and knowledge management In the modern times, various organizations have devoted themselves to the implementation of using intelligent techniques. Such techniques are applied for taking business decisions. Here knowledge management plays a crucial role in determining the decisions (Sharda et al. 2013). The Decision Support System (DSS) is the application and technology that helps the decision makers in the managerial positions to utilize data and models for solving unstructured and semistructured problems. The combination of Artificial Intelligence and DSS has produced modern active DSS. The active DSS is a part of new DSS and Intelligent systems (Shah et al. 2012). The examples of active new DSS applications are the Expert System and Knowledge Based System. The other intelligent systems used for decision making are the Adaptive DSS along with Intelligent Decision Support System (IDSS). The Artificial Intelligence aims for studying the human thought process and duplicating the thought process through machines such as computers and robots. It, therefore, explores the behavior of a computer but performed by a human (Sangari and Razmi 2015). It has the following benefits in decision making. It helps to learn and understand from experience It concludes in such situations where uncertainty and fuzziness exists It uses the knowledge and experience for manipulating the environment It helps to respond successfully and quickly to the new situations It helps to recognize the importance of relativity of different elements in a situation Figure 1:The Knowledge Management System Cycle (Source: Chang 2014, pp- 525) The implementation of intelligent techniques has also made a drastic change in the Knowledge Management System. The available data or facts are processed to information by business context by the knowledge experts (Maloney et al. 2015). Such processed information are required to take decisions as per the business requirement. Assimilation of intelligent techniques in the Knowledge Management System makes it more flexible for decision making (Loucks and da Costa 2013). The enterprise wise knowledge management system is of three major types, structured knowledge systems, semistructured knowledge systems and knowledge networks. Support of the systems for groups to take efficient decisions The Decision Support Systems support a wide range of decision making tasks. In the mid-nineties, the majority of the software vendors presented the DSS to their clients who were very much general resulting to failed projects, painful memories, and unrealistic expectations (Fleisher and Bensoussan 2015). As a result, companies felt the need to build computerized decision support system for supporting their decision makers. As the new version was launched, it led to support in making more efficient decisions in the group work. The two fundamental concepts that are associated with support of computerized decision is first, IT and computers help people in making important decisions (Chiang et al. 2012). Secondly, the computerized DSS support assists the managers to keep them in connection to a loop of making decisions. Thus, the aim is to improve the decision making efficiency along with effectiveness and not the decisions of automated nature. Many companies are doing their daily activities such as monitoring of performance on integrated computerized decision support system. The managers often download and analyze data for creation of reports (Chen et al. 2012). They often analyze and evaluate forecasting results. The DSS helps the managers for allocation of resources, comparison of the predicted with the actual results, the projection of revenues and evaluation of scenarios. In todays era, various complicated situations rise in business cases where taking decisions become very much difficult (Chang 2014). Moreover, the requirement for making speed decisions has increased, information overloading is normal, and distortion of information is higher. In such case, the modern decision support system encourages fact-based decisions with improved quality efficiency and effectiveness (Loucks and da Costa 2013). Such system helps the groups to take fast decisions as per management requirements. Discussion of the systems for improving enterprise-wide knowledge management The systems that aim for the improvement of enterprise-wide knowledge management are mentioned below: The Extranet and the Intranet OLAP, Data Mining and Warehousing of Data Groupware Systems Systems of Content Management Decision Support Systems Systems of Document Management Tools of Artificial Intelligence Semantic Networks Simulation Tools (Maloney et al. 2015) The extranet is the network of privacy that has the usage of public telecommunication and the internet for sharing a part of business information with the suppliers, partners, customers or other business in a secure manner (Fleisher and Bensoussan 2015). The intranet is an organization's network, normally a corporation based on the protocols of TCP / IP, accessible only by the employees of the organization. OLAP is the online analytical processing technique that is used for multidimensional analysis of data related to business. It provides the capability for trend analysis, complex calculations, and sophisticated data modeling. Data warehouse system is used for analyzing and reporting data (Chang 2014). They are the central repositories of integrated data from one or more sources. The Data mining system is required to be enabled as it is the process for computation of discovering the patterns in a large set of data which involves artificial intelligence, database and learning of machine. The groupware system is the application software that is implemented to support the people who are involved in doing a common work for achieving their targets (Chiang et al. 2012). The Content Management System supports the modification and creation of digital content using interface of the standard user and provides support to multiple users in a collaborative environment. The Decision Support System supports the organizational decision making work. The Document Management System is required to track, store and manage documents for reduction of paperwork. The system is capable of tracking the history (Power et al. 2015). The Artificial Intelligence tools aim for the creation of computers and software capable of behaving intelligently. The Semantic Network system is needed for storing the knowledge in a form of graphs having nodes marking objects in the world and arcs mentioning relationships between the objects. The simulation tools assist in understanding systems of complexities and support in making decisions (Sangari and Razmi 2015). Therefore, if all these systems are integrated into the organizations Knowledge Management Systems, then the overall system becomes much more concrete and flexible. Conclusion It has been discussed throughout the topic that adaptation of various Decision Support Systems has reduced the complexities in making decisions for the managers working in a group. Prompt decisions on critical matters have led to solutions which have benefitted the organization in the long run. Therefore, it can be concluded that the management authority has made themselves more involved in getting support from these systems in future for addressing feasible solutions regarding the cases they face. Recommendations From the discussions and the conclusion, some facts that can be recommended are as follows: i) Organisations should do in-depth research for inventing new support systems and intelligent techniques for decision making for avoiding the situation if the existing systems become of no use. ii) The management should get involved to apply the current systems for more extensive usage in other cases to ensure its optimum utilization. iii) The authority should maintain a strong architecture for safety and security of these systems they use so that unnecessary intrusion does not happen to result in data theft or sudden system shutdown. 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