Romeo and Juliet, Baz Luhrmann - 1934 Words

I believe that Baz Luhrmann has created a very effective prologue and version of Act 1 Scene 1 of Shakespeares Romeo and Juliet, using visual images and landmarks along with the language to aid the audience in understanding the story. Using the media throughout, Luhrmann makes the situations easier for the audience to grasp, and in turn, relate to. The film begins with the camera zooming in on a television. The prologue is spoken by a black female news reporter. Using a coloured female reporter is effective as it shows how universally important the story is. This indicates the importance of the Montagues and the Capulets for their frays and fights to shown on national television. Using the media makes the situation seem more real,†¦show more content†¦All of this suggests their apparent immaturity, and fun attitude. The Montague boys pull into Phoenix petrol station. The name Phoenix is significant as it shows that often good things are born from the ashes, in this case, Romeo and Juliets love for each other, and an end to all the fighting. As they pull in, there is a clear shot of the cars number plate, which reads ‘Mon 005. The Capulets then pull into the petrol station, in a more suave, sophisticated car; however they have a matching number plate, this time reading ‘Cap 005. This again shows competition between the two families. One of the Montague boys climbs out of the car, and shows a sexual attitude towards some nuns. This indicates that they have little respect for people. The Montague has a black eye, which shows that he has been in a recent fight, most probably with a Capulet. Abra and Tybalt then step out of their car. Immediately there is an obvious difference in the two families, and their attitudes. The Capulets are more sophisticated, whereas the Montagues are immature and up for anything. As soon as the Montagues spot the Capulets, there is tension between them. This indicates how much hatred has built up in the rift between the two families. Abra looks towards the Montagues in a threatening way. The Montagues are quick to respond, and bite their thumbs at the Capulets, a gesture that wasShow MoreRelatedAppropriation of Romeo and Juliet by Shakespeare and Romeo+Juliet by Baz Luhrmann2533 Words   |  11 PagesDiscuss the appropriation of ‘Romeo and Juliet’ by William Shakespeare and ‘Romeo+Juliet’ by Baz Luhrmann Texts and ideas from texts are appropriated and transformed into other text forms and other compositions in a different context. An appropriation is a text that is appropriated or taken over by another composer and presented in a new way. ‘Romeo and Juliet’ is a well-known high culture text that is a tragedy about two young star-crossed lovers whose deaths ultimately unite their feuding familiesRead MoreHow to Account for the Success of Romeo and Juliet by Baz Luhrmann2153 Words   |  9 PagesHow to Account for the Success of Romeo and Juliet by Baz Luhrmann â€Å"The play re-worked for MTV.† This is just one of the many ways Baz Luhrmann’s Romeo and Juliet has been described after the director dramatically changed the way the world sees Shakespeare. The controversial film shows us just how important Shakespeare still is no matter how you try to change it. The classic, original play will always be present in some way. The film’s success came with great publicityRead MoreComparison of Franco Zefferelli’s Romeo and Juliet to The Adaptation by Baz Luhrmann1460 Words   |  6 PagesComparison of Franco Zefferelli’s Romeo and Juliet to The Adaptation by Baz Luhrmann This essay aims to discus the similarities and differences of Shakespeare’s Romeo and Juliet, directed by Franco Zefferelli and Baz Luhrmann. In this essay there will be an outline of the story, a comparison of the techniques used in each film and the affect these techniques have on the viewer. In Fair Verona two families have been feuding for generations, the Capulets and the MontaguesRead MoreRomeo And Juliet, The Balcony Scene : As Interpreted By Franco Zeffirelli And Baz Luhrmann1415 Words   |  6 PagesRomeo and Juliet, The Balcony Scene: as interpreted by Franco Zeffirelli and Baz Luhrmann William Shakespeare’s Romeo and Juliet, debatably one of the most famous love stories of all, has many film versions which have interpreted this well-known, beloved story of love in a plethora of ways. Two of the more notable film versions of this love story are Franco Zeffirelli’s 1968 version and Baz Luhrmann’s 1997 version. Zeffirelli’s version takes place in the 16th century in Verona, Italy, just as theRead MoreComparing The Opening Shots in Baz Luhrmann and Franco Zeffirellis Versions of Romeo and Juliet1551 Words   |  7 PagesShots in Baz Luhrmann and Franco Zeffirellis Versions of Romeo and Juliet This essay will compare two versions of Romeo and Juliet directed by Baz Luhrmann and Franco Zeffirelli. In order for me to comment on both versions of Romeo and Juliet I will compare the opening shots, the way the main characters are introduced and the types of music and costumes used in each version. Baz Luhrmanns film takes place in contemporary America. The latest version of Romeo and JulietRead MoreComparing the Openings of the Film Versions of Romeo and Juliet by Franco Zeffirelli and Baz Luhrmann775 Words   |  4 PagesComparing the Openings of the Film Versions of Romeo and Juliet by Franco Zeffirelli and Baz Luhrmann Both openings of ‘Romeo and Juliet’ by Franco Zeffirelli and Baz Luhrmann show similarities and contrasts. Although both versions are faithful to the text as the words spoken by the voiceover in the Prologue are the same, the methods of presentation are clearly different. Zeffirelli places the film in the 17th century and takes a more traditional approach. By using a whiteRead MoreInterpretation of the Balcony Scene by Baz Luhrmann and Franco Zeffirelli of William Shakespreares Romeo and Juliet1032 Words   |  5 PagesInterpretation of the Balcony Scene by Baz Luhrmann and Franco Zeffirelli of William Shakespreares Romeo and Juliet â€Å"Romeo and Juliet† is a famous love story written by William Shakespeare. Two interpretations were made of this text into a film by the two directors, Baz Luhrmann (1996) and Franco Zeffirelli (1968). The films use different types of media to portray the characters and the overall context of Shakespeare’s play. I will be focusing on Act two Scene ii (the balconyRead MorePost Modernism Of Baz Luhrmann s Film Adaptation Of William Shakespeare s Romeo And Juliet3440 Words   |  14 PagesPost-modernism in Baz Luhrmann’s film adaptation of William Shakespeare’s play Romeo and Juliet: a comparison of two creative works from two different periods. In 1996, Baz Luhrmann directed â€Å"Romeo + Juliet†, a modern twist on the famous tragedy play Romeo and Juliet by William Shakespeare in 1597, in which the main characters Romeo Montague and Juliet Capulet where portrayed by Leonardo DiCaprio and Claire Danes. While some praise the strange interpretation of the old tale, there are also thoseRead MoreHow Baz Luhrmann Uses Props, Iconography, Costumes, and Settings to Create His Own Version of William Shakespeares Romeo and Juliet895 Words   |  4 PagesHow Baz Luhrmann Uses Props, Iconography, Costumes, and Settings to Create His Own Version of William Shakespeares Romeo and Juliet William Shakespeare’s best loved tragedy, Romeo and Juliet, has been portrayed in theatres and on film in many different ways. But none have been quite like Baz Luhrmann’s imaginative and unconventional adaptation. He has brought aspects of the plays Elizabethan origins and transfused them with a modern day background and created, what can Read MoreRomeo And Juliet Analysis780 Words   |  4 PagesShakespeares Romeo and Juliet is a beautiful love story where the two youths fall in love against all odds and tragically die at the end, defying their parents. Shakespeare’s Romeo and Juliet conveys the idea of true love. Different productions of Romeo and Juliet recontextualises the play making it relevant to new contexts helping the viewer understand the play. The directors who made a production of Romeo and Juliet recontextualise Romeo and Juliet from their point of view, therefore, Zeffirelli

Purple Hibiscus Free Essays

Symbols within Purple Hibiscus Ben Redman The novel Purple Hibiscus, by Chimamanda Ngozi Adichie, is a story of a girl learning to find her own voice and speak out against her violent oppressive father. The novel is set in post-colonial Nigeria, in a time in which the government was run by a military dictatorship. There are a number of symbols used to help develop ideas of the novel; the three most predominant ones being purple and red hibiscuses and Mama’s figurines. We will write a custom essay sample on Purple Hibiscus or any similar topic only for you Order Now The red hibiscuses are symbolic of the violence and bloodshed in Kambili’s life whereas the purple hibiscuses symbolize freedom, defiance and the courage to speak out. The figurines are symbolic of Mama’s submissive character and denial of the violence in her home. These symbols help to develop one of the main themes of freedom vs. oppression. The color red also adds to the symbolism of the red hibiscuses. Red is a color which is often associated with anger, violence and bloodshed. These are all recurring motifs in the novel with her father’s reign of terror over the family. Red is the color that seems to haunt Kambili, ever since the beginning when she had to clean up her mother’s blood, after the father abused and cause her to have a miss carriage. For a long time after the horrific incident, Kambili could not concentrate on anything but the â€Å"red blur† and the â€Å"narrow lines of blood† which hold together the images of her dead baby brother and her badly beaten mother. The red hibiscuses that are planted in the garden of the family’s home in Enugu suggest the family’s oppression, as it is only through Papa’s violence that he keeps them under his control. Kambili, shows major changes throughout the story in her confidence and personality by gaining a voice. Kambili is an extremely shy girl because of she lives with the constant terror that her father reigns down on her, the father has scared Kambili to the point where she cannot even think for herself. Adicihie shows Kambili’s transformation mainly using dialogue and internal monologue, these changes Kambili made in herself where crucial in the story because they explained how she learns to break free from her fanatical father. At the beginning of the novel Kambili is perceived by her fellow class mates and peers to be stuck up and different because the students knew Kambili came from money and power, and thought she was ignoring them because maybe she thought she was better than everyone else. When in fact her silence and awkwardness is due to the fact that her father has crippled her self esteem so badly by showing oppressive parenting techniques. Her transition from silence to a full speaking girl is the most obvious change in the novel and it is what progresses the plot. Like I mentioned before the red hibiscuses planted at their home symbolizes the fathers terrible ways, and the power he has over the home. The red plants showed complete dominance over the household to the point where any of Kambili’s thoughts or emotions where showed to reader through actions or internal monologue. The only time she would ever really speak was to mimic her father’s preaching â€Å"God will deliver us,† in her repeated efforts to gain approval of her treacherous father. However some light begins to show during her stay in Nsukka. Before Kambili and Jaja went to stay with their aunt in Nsukka, they have never seen purple hibiscuses before. Purple hibiscuses in this story represents freedom, defiance and courage to speak out. This is very symbolic as it is only during their visit to their aunts home where they learn what true freedom is. Kambili’s internal monologue beings to show signs of branching away from her silence and gaining a voice of her own. At first we see her struggling to break the silence as if she is scared that her father will find out somehow. She was described censoring herself from talking back to her cousin Amaka because she is smart mouthed and that she might be upset with Kambili herself. The first time Kambili truly spoke with thoughts of her own was when her beloved Father Amadi asked her why she is so quiet and why she hasn’t asked a question all night. Kambili was puzzled because no one has ever came to her and asked her to speak on something other than religious matters. What she said was â€Å"You don’t have to shout, Amaka†¦ I don’t know how to do the orah leaves, but you can show me. Before this, they had known only of Papa’s violence, his ‘hurting love’ and his oppressive, dictator-like control. Purple is a color that is often associated with royalty but also self-expression. This is important, as it is only through expressing oneself and speaking out against oppressors can freedom truly be achieved. We also learn that it is only through experimentation that gard eners can create the rare purple hibiscus. This emphasizes the fact that Kambili and Jaja take their first tentative steps of speaking out and defying their father’s tyrannical rule. The purple hibiscuses that grow at Aunty Ifeoma’s house in Nsukka are described as in the novel as â€Å"rare fragrant, with undertones of freedom†. These flowers are the most important symbols in the story as they are what represent Kambili’s transformation. When the kids returned back to their miserable home Jaja brought some cuttings of the purple hibiscus’s and hid them in fridge, to give him and Kambili a sense of security and protection from their father. He was afraid however that papa would find them and confiscate them, therefore almost crushing his rebellion. The contrast between the purple and red hibiscuses also is a large symbolic tool Adachi uses. The purple showing love, warmth, laughter and free expression what they experience in Nsukka, while red representing the constant fear they live under. Jaja bringing home the flowers brings inspiration to strive for freedom within their own home. How to cite Purple Hibiscus, Papers

Requirements of Chesapeake IT Consulting †MyAssignmenthelp.com

Question: Discuss about the Requirements of Chesapeake IT Consulting. Answer: Requirements: Stakeholder Interests The new hiring system of Chesapeake IT consultants consists of various stakeholders into the company. The objective of new hiring system is to make the recruitment and selection process of CIC faster so that the business can gain a competitive advantage. The other objective of CIC organization is having skilled employees in their business so that they can fulfill with current as well as future contracts. The objectives aid the stakeholders into accomplishment of the roles into the firm. The hiring system help CIC employees to collaborate perfectly as well as effectively as each of the employees role are indicated into the system (Bourgeois, 2014). The main goal of the information technology solutions is to meet with the customers requirements. The stakeholders of CIC and objectives of new hiring system aid to achieve the roles which are discussed in the following table: Role Specific challenge related to the hiring process How a technology solution to support the hiring process could address the challenge i. CEO The role of CEO is to ensure that CIC can run into line to set organizational goals. The existing hiring process is a challenge as the HR Manager is not able to hire talented and new staffs quickly to address requirements of future contracts CIC can win. New hiring system should aid CEO by availing the competent workforce which can deliver of organizational goals. The new employees are hired into timely manner, obtained of correct credentials along with educational requirements for the position of job (Yang, 2014). The current employees can work properly with assigned contracts. ii. CFO CFO is focused on financial aspects of CIC. The current hiring process is not able to track certifications as well as skills of their staffs such that CIC knows the capability of right person to perform into specific project. With use of hiring system, CFO ensures that HR department runs into economical way. Therefore, the new system will reduce hiring cost of new staffs. The proposed hiring system is cost effective with higher return of investment. Implementation of proposed hiring system should direct the employees to right job position and at proper time. iii. CIO CIO is not able to manage the organizations information resources along with IT architecture to hire of new staffs (Bourgeois, 2014). The system aids CIO to store and backup data on the issues related to hiring new employees. The system also provides of security measures when it is expanding internationally in order to protect clients data. iv. Director of Human Resources HR is concerned that the current hiring process will not allow the HR department to become responsive to the recruitment and hiring needs. Director of Human Resource uses the system to conduct proper as well as sufficient staffing of organization. The new hiring system should achieve this function throughout Human Resource Planning Module which is incorporated into the system. v. Manager of Recruiting The current hiring process takes long time to hire new staffs. There is long process of hiring. The system should aid in recruitment and selection of IT consultants. Manager of Recruiting should reach larger number of applicants throughout online channel (Yang, 2014). vi. Recruiters The recruiters are used of screening and filtering process to recruit the new staffs for CIC. The new hiring system would enable the recruiters to select best applicants throughout screening and also filtering. vii. Administrative Assistant It is the challenge for administrative assistant to coordinate the paperwork for new hire and payroll. There are possibilities of errors while entering the data manually. The new hiring system should simplify roles of administrative assistant by providing channel throughout which he/she can able to distribute information on employee hiring. viii. Hiring Manager (Functional supervisor the new employee would be working for.) The current method to screen applications, schedule interview, identifies the best qualified applicants and getting of new job offers is not working. The hiring manager would use the system of decision making on whom is to hire as new staff into the organization. The manager is looking for electronic dashboard to see status of job openings, information related to qualified candidates. Defining Requirements The information system of the organization is to be composed of various requirements. The proposed new hiring system consists of two types of requirements such as functional and non-functional requirements. Into the following table, five user requirements are stated which addressed the reporting under the functional requirements (Bourgeois, 2014). Three system performance requirements and two system security requirements are stated under the non-functional requirements. The requirement ID is symbolized as follows: User requirements is numbered into the table as UR-# System Security requirements is numbered into the table as SR-# System performance requirements is numbered into the table as SP-# Requirement ID Requirement Statement Stakeholder Functional Requirements 1. UR-1 The system shall provide applicants to edit their profile details. Recruiter - Paul OBrien 2. UR-2 The system shall allow admin to provide full authority over the accounts of user. Director of HR: William Bradley 3. UR-3 The system shall allow admin to sort the applicants based on specific criteria. Director of HR: William Bradley 4. UR-4 The system shall allow admin to send notifications related to upcoming events. Manager of Recruiting: Suzanne Rodriguez 5. UR-5 The system shall create of job offer for chosen applicants. Manager of Recruiting: Suzanne Rodriguez Non-Functional Requirements 1. SP-1 The system shall accommodate extra users in addition to records, transactions. CFO: Marianne Cho 2. SP-2 The system shall store job postings templates in order to simplify job process for the hiring manager. CIO: Fadil Abadi 3. SP-3 The system shall maintain, correct in addition to update the employees hiring data accurately to the HR manager. Manager of Recruiting: Suzanne Rodriguez 4. SR-1 The system shall provide secure login, logout to the users as no other than user have access to profile. CIO: Fadil Abadi 5. SR-2 The system shall secure the profile by means of confidential password. CIO: Fadil Abadi References Bourgeois, D. (2014).Information Systems for business and beyond. Chapter 6. The Saylor Foundation. Yang, R. J. (2014). An investigation of stakeholder analysis in urban development projects: Empirical or rationalistic perspectives.International Journal of Project Management,32(5), 838-849.

Macbeth And Supernatural Essays (1064 words) - Characters In Macbeth

Macbeth And Supernatural Throughout William Shakespeare's Macbeth, many characters evolve and many disappear into the background. The main character, Macbeth (MB for short), travels through utter chaos when he proclaims himself monarch. When he first meets the witches of the supernatural, they tell him of the future. One of the themes amplified throughout the play is the circle of life, from the beginning to the end. The visions provided by the three witches begin Macbeth's quest for dominance. The three main effects of this theme are: the death of Macbeth's friends and family. Second, the deaths of his mortal enemies. The last point is the death of himself. The supernatural amplifies the theme of death. From the first brief encounter of the witches, to the last nightmarish visions that Macbeth has, many close friends and relatives have died because of his visions with the supernatural. The death of his wife in Act V, Scene IV is the death that sends him over the abyss and into mental instability. Lady Macbeth is like a joined appendage to Macbeth. They work as one, communicate as one, and when that appendage is lost, so is MB's grip with reality. Lady Macbeth was the only person he could truly confide in. The supernatural also had another key factor to her death. In the first act of the play, she calls on the powers of the supernatural to make her strong. The following quote, "Come, you spirits that tend on mortal thoughts, unsex me here, and fill me from the crown to the toe, top-full of direst cruelty! make thick my blood, stop up the access and passage to remorse... Come to my woman's breasts, and take my milk for gall...", is possibly the most important passage that leads to Lady Macbeth's death. She calls on the evil spirits to "unsex" her, and to replace her "milk" with "gall". It seems that she wants to be the most cruelest being in the world. The theme of the life cycle is amplified in this situation because of her request to the spirits. This event is the beginning of the end for Lady Macbeth's life. She is the one who insists Macbeth should kill the king and reign as the king of Scotland. It is her ideas and plans that lead herself and Macbeth into the pits of hell. She is not solely to blame for this catastrophe though. It is Macbeth that decides to go forward with the plans. Throughout all the chaos in the remaining scenes of the play, she is eventually killed by one of Malcolm's associates. Therefore, it is her own foul play with the supernatural that leads to her death. This play shows how one man can turn himself into a barbarian just by one simple vision. Throughout this play, many of Macbeth's enemies, and traitors (Banquo) are killed by Macbeth or his hired assassins. In the first vision provided by the witches, Macbeth seems himself as king of Scotland, and Banquo's children future heirs to the throne. When Macbeth finally kills King Duncan, the turning point has vanished. There is no going back to the past and changing what has happened. This event signals the gates of hell to unlatch the door that holds the chaos that will torment Macbeth to his own death. This regicide happens all because to path to what Macbeth thinks of freedom is open. After the Thane of Cawdor is executed, MB believes that he can then crush his remaining enemies with one swift stroke. This is not so, as Macbeth finds. After he commits regicide, he realizes that he must kill all the enemies that oppose him, mainly Malcolm, the king's heir to the throne. When Banquo sees through MB's falsehood, he then turns traitor. When Macbeth realizes that one of his closest friends has become his mortal enemy, he sees to it that Banquo is murdered. Once again, these significant deaths on the timeline all happen because of the supernatural. The visions from the three witches, and the summonings of evil from Lady Macbeth are the two events that mainly lead to this path of destruction. The first paradox from the witches serves to confuse the reader into thinking what will happen to Banquo. Macbeth knows that he must become king of Scotland before Banquo or he will not fulfill his prophecy. All these events lead up to end, the murder of Macbeth himself. From the very beginning of the play, Macbeth sees himself as a visionary, who can see into

English Term Paper Topics

English Term Paper Topics Every student in his academic carrier comes across the situation when he has to write term papers. So, it is very important for each and every student to acquire skills to write English term papers. English term papers vary as they cover different topics, levels and styles. A broad understanding about the different term papers is needed in order to score good grades. English term papers need broad area of study. Your English term paper can be related to different academic fields. An English term paper can be persuasive, ethnographical or can be based on literature works. It is very important to know how to give a head start to you term paper. For many students it is very complicated to start the paper and it is in fact the most difficult part. Sometimes professors provide topics for students. Choosing your topic is an important part of writing a term paper on English topics as it must be interesting and there must be enough information available for a student to research and write about it. For example, if you are asked to write about a book, you must be able to choose the part of the book which is most understandable and interesting for you. This will give you a good thesis statement. Now once you have already got thesis statement the steps following it are easy and come into the flow of writing as the opinion about the subject has already been made. The purpose of the body of a term paper is to support the thesis statement.   Various quotes and citations are used in the body in order to give a better impression on the topic which you have chosen. But, you must keep an eye on the quotes as the use of quotes in excess might decrease reader’s interest in your arguments. After you are finished with the body of the paper, you can start writing the conclusion, which gives the extract of the ideas of term paper and gives your term paper a better finish. If you are having any problems with your English term paper topics, you can ask CustomWritings.com for help and get advice from our experts. There are more than 735 expert writers working with CustomWritings.com and will gladly assist you with your papers.

Definition and Examples of a Glossary in a Book

Definition and Examples of a Glossary in a Book A glossary is an alphabetized list of specialized terms with their definitions.  In a report, proposal, or book, the glossary is generally located after the conclusion. Also known as a clavis (from the Latin word for key). A good glossary, says William Horton, can define terms, spell out abbreviations, and save us the embarrassment of mispronouncing the shibboleths of our chosen professions (e-Learning by Design, 2012). EtymologyFrom the Latin, foreign words Observations Because you will have numerous readers with multiple levels of expertise, you must be concerned about your use of high-tech language (abbreviations, acronyms, and terms). Although some of your readers will understand your terminology, others wont. However, if you define your terms each time you use them, two problems will occur: you will insult high-tech readers, and you will delay your audience as they read your text. To avoid these pitfalls, use a glossary.(Sharon Gerson and Steven Gerson, Technical Writing: Process and Product. Pearson, 2006)Locating a Glossary in a Class Paper, Thesis, or DissertationYou may need a glossary if your thesis or dissertation (or, in some cases, your class paper) includes many foreign words or technical terms and phrases that may be unfamiliar to your readers. Some departments and universities allow or require the glossary to be placed in the back matter, after any appendixes and before the endnotes and bibliography or reference list. If you are free to choose, put it in the front matter if readers must know the definitions before they begin reading. Otherwise, put it in the back matter.(Kate L. Turabian,  A Manual for Writers of Research Papers, Theses, and Dissertations, 7th ed. The University of Chicago Press, 2007) Suggestions for Preparing a GlossaryUse a glossary if your report contains more than five or six technical terms that may not be understood by all audience members. If fewer than five terms need defining, place them in the report introduction as working definitions, or use footnote definitions. If you use a separate glossary, announce its location: (See the glossary at the end of this report).Follow these suggestions for preparing a glossary:Define all terms unfamiliar to an intelligent layperson. When in doubt, overdefining is safer than underdefining.Define all terms that have a special meaning in your report (In this report, a small business is defined as . . .).Define all terms by giving their class and distinguishing features, unless some terms need expanded definitions.List all terms in alphabetical order. Highlight each term and use a colon to separate it from its definition.On first use, place an asterisk in the text by each item defined in the glossary.List your glossary and its first page number in the table of contents.(John M. Lannon, Technical Communication. Pearson, 2006) Collaborative Glossaries in the ClassroomInstead of creating a glossary on your own, why not have the students create it as they encounter unfamiliar terms? A collaborative glossary can serve as a focal point for collaboration in a course. Each member of the class could be assigned to contribute a term, a definition, or comments on submitted definitions. Multiple definitions can be rated by you and by the students, with the highest-rated definitions accepted for the final class glossary.When students are responsible for creating the definitions, they are much more likely to remember the word and the correct definition.(Jason Cole and Helen Foster, Using Moodle: Teaching With the Popular Open Source Course Management System, 2nd ed. OReilly Media, 2008) Pronunciation: GLOS-se-ree

Principal agent theory Essay Example | Topics and Well Written Essays - 750 words

Principal agent theory - Essay Example The relationship that takes place between particular agents along with a particular principal is recognized as agency. Under the principal agent theory, the principals liability does not ends when authority is transferred to the agent and the principal continues to be liable to the third party for any shortcoming from the end of the agent. The agent principal theory is applied in various contexts such as employment and real estate. In case of employment a principal agent relationship arises when a owner of c particular company hires a manager to work or operate on his behalf while dealing with third parties. In this case the principal is the owner of the company and the agent is the manager. Similarly, subordinates become agents and managers become agents when subordinates work on the behalf of the managers. In both cases the principal is held reliable for any wrong doings conducted by the agent. Issues in Principal Agent Theory Owners of a company are regarded as principals when the y enter into a contract with the agents as agents accept that they will manage the principal’s business. ... An issue between the agent and the principal does not take place until there is a coexistence of the benefits for both the principal and the agent. A principal might end up experience cost of agency when the self interest of both the individuals deviates. This is because if the agents have the opportunity they will try to ensure that their own utility is maximized as they end up giving more importance to their self interest over the interest of the principal (Steiner, 2002, p.17). There is ample amount of probability that both the agents and the principals do not share mutual opportunities of benefits. The theory of agency even states that a principal cannot be sure whether agent will give importance to his own utility over the utility of the principal thus the principle tries to minimize losses that are projected towards his own utility. They do so by keeping strict control over the agent and monitoring the behavior of the agent. The issue that is caused due to the self serving beha vior of the agent is even recognized as hidden action (Stolle, 2008, p.63). An issue of hidden action arises as the agent may be involved in committing an act that cannot be observed by the principal or the principal does not have the information to identify what the agent is involved into. For example: In the case of real estate, an individual may hire a real estate agent to look for a home with certain characteristics and of certain price. The principal doers not know where to look for a home that is compatible with his requirements and is even not aware of the price of such a house. The agent’s task is to locate such a house and quote the correct price of the house to the principal. Since the agent has the motivation of maximizing his/her utility he may