Portfolio Theory and Investment Analysis Assignment

Portfolio Theory and Investment Analysis - Assignment Example More specifically, the trustees want to know the following: (1) The impacts of having a small number of stocks in the portfolio and concentrating the investment in large stocks. (2) The benefits of moving some of the investment to international securities. (3) How derivatives may be used to enhance returns and manage risk. The answer to the first concern depends on the answer to the following basic question in the minds of the charity's trustees: what is the highest possible and most realistic annual return that the investment portfolio could earn It is not easy to predict the return of a portfolio because many things could happen to funds once these are invested. To find out the realistic historical returns for various investments, investors consult the Equity and Gilt Study of Barclays (2006), which has studied this for over half a century. Figures 1 (68) and 2 (69) show how equities performed better compared to gilts and T-bills over the last century since a 100 investment in equities at end-1899 was worth 1,340,324 by end-2005. The same investment in gilts was worth 20,159 and in T-bills 17,021. When adjusted for inflation, the investment in equities would be worth 22,426; gilts 337; and T-bills 284 (Barclays, 2006, p. 62-63). This proves that the strategy of investing in equities would give the highest and most realistic return. In the year 2005, for example, equities returned 18.8% for the year, much higher than gilts (6%) and T-bills (2.7%), all figures having been adjusted for inflation. The Barclays Equity Income Index is derived from the yield of the FTSE All-Share Index because in their view, this is "the most representative method of evaluating equity performance over the period" (Barclays, 2006, p. 59). Given these pieces of information, what would be the best return that the UK charity could expect from its investments The attractiveness of any investment, whether bonds, securities, real estate, or a corner street business, depends on two variables: (1) Expected return: how much the investment would earn over a period of time; and, (2) Risk: the uncertainty that the investment would earn the expected return. One finance model used to assess an investment's attractiveness based on these two factors is the Capital Asset Pricing Model or CAPM,1 which equates expected return with the market return, the risk free rate, and the relative behaviour - defined as beta () - of the price of a security relative to the behaviour of the market. The basic criterion of CAPM is straightforward: an investment is attractive if its risk premium (the additional return over the risk-free rate) is equal to or higher than the risk of the market. Given the charity's investment portfolio = 1.03, the investment gave a return that was 3% higher than the All-Share Index return. If the All-Share Index had an 18.8% return, meaning a 1 million investment was worth 1,018,800 by year-end, the charity's investment would earn an extra 3% and would be worth 1,019,364 instead. The , however, has a downside: if the All-Share Index dropped, the value of the charity's investments would drop by an additional 3%. Why this happens is explained by risk, which affects the return of any investment. Every investment is exposed to two types of risk: the risk affected by the factors to which the business is

Business Plan Term Paper Example | Topics and Well Written Essays - 2500 words

Business Plan - Term Paper Example We exhibit a more consumer friendly corporate persona, which makes us more attractive for an economy conducive to socially responsible business ethics. Hence we offer â€Å"green† products and services that are environmentally safe. This helps our company define further separate ourselves as an identity unique from our competition. The current market for our products can be easily converted to our firm because we offer competitive products that offer unique advantages for our customers, their customers, and the environment. We predict that we will be able to reach a global consumer base of satisfied and loyal customers that could permanently establish our company as a major shareholder in the industry. Business Description Clean Wheels has the potential to be one of the leading car wash companies in the area. The market is becoming increasingly stagnant as the market for stand alone brick and motor car washes dominate the industry. Our business structure utilizes a nationalize d networking system where we are able to independently contract workers in different parts of the U.S. to wash peoples cars on demand at their specific locations. These washes can occur while they are at work or at home. This makes access to convenient car washes more accessible. The most interesting aspect of this company is that it is able to outsource the major cost of equipment to the individual contractors who will fulfill the service. While the company merely maintains a website and call center to process the orders for washes, the network that the site leverages helps decrease the overhead cost. The internet is growing as a medium for individuals to shop through which poses a significant business opportunity to our company. By capitalizing on generating leads, we are capable of creating a new layer in the existing market which allows us to profit from the logistical centralization of the sales framework. Moreover, we are going to mandate that our drivers use specific soaps an d cloths in order to represent the overall branding strategy of going green. Consumers are increasingly loyal to companies that make attempts to respect the environment amid fears of reaching a point of no return. Industry and Market Analysis Market Summary: The national market for car wash companies is becoming increasingly competitive as the industry becomes consolidated in major markets and segmented where there are lower population numbers. Moreover, the internet is becoming a major destination for shoppers. Especially for affluent individuals who are likely to be the heavy users of the service that we provide. While our end user is the consumer who gets their car detailed, our direct customers are the contractors who are going to wash the cars. This makes our company increasingly dynamic in terms of our ability to create competition within different regions by allowing individuals to bid for our contracts. Market Demographics The profile for Soapy Rides' target customer consist s of the following geographic,   demographic, and behavior factors: Demographics Male:   female- 63%: 37%.   The reason for this discrepancy in the male to female   ratio is due to the fact that men on average care more about   their automobiles.   The data indicates that men are more likely to dedicate a portion of the budget to their cars with   accessories. Additionally they are more likely to

Texas Roadhouse Wont Scrimp on Making Employees Happy Essay Example for Free

Texas Roadhouse Wont Scrimp on Making Employees Happy Essay 1. â€Å"If we take care of our employees, they will take care of our customers† is a common phrase. In your experience, is it actually practiced or is it just a clichà © on the wall? Discuss the implications of your answer. â€Å"If we take care of our employees, they will take care of our customers,† this quote mostly depends on the individual company and how they perceive their employees. Some companies realize that in order for them to succeed, they must invest in their employees, as employees are the key to a successful and highly profitable business. And in order for employees to remain motivated and continue to flourish, they need recognition, which is a basic human need, regardless of status or job type. Once employees have been acknowledged for their good performance, they feel more appreciated, and as a result will demonstrate greater levels of commitment and dedication. Thereby, producing top results for the company and treating its customers with royalty. During recessions some companies such as Texas Roadhouse, continue to demonstrate employee appreciation through employee gatherings, cash reward bonuses and annual company conferences, in which spouses are invited (Noe et al., 2011). Companies such as Texas Roadhouse and other companies are leaders who want to succeed in today’s competitive world, and they realize that even during hard economic times, there’s still the strong need to maintain programs which are aimed at recognizing employees for work place accomplishments. And when employees are truly happy and motivated, they will care for the customers and give their best. Even through our suffering economy, many other companies also continue to celebrate employee’s performance through various recognition programs such as, cash bonuses, flexible work hour schedules, award celebrations, gift cards, employee appreciation day, company cook-outs, discounted family membership incentives, floating days and many others. Finally, most good leaders appreciate what employees do for the company, and will try to find ways to show love and appreciation. 2. Texas Roadhouse uses money as a motivator for employees. In today’s economy, describe alternative methods that could be used to motivate their employees. Texas Roadhouse has traditionally been known for their generous cash bonuses in recognition of employee appreciation, such generosity included, cash bonuses ranging from $500.00 in fun money to $20,000 for best meat cutter (Noe et al., 2011). However, in today’s unstable economy, the smart business leader will find other ways to show love and appreciation for their employees. Texas Roadhouse managers realize that employees are its biggest contributing factor for success or failure, and will find other ways to motivate employees, even during such economic uncertainty. For many companies, non-cash recognition is still a very powerful motivator, and will still foster ways to attract and retain good employees. And even though money is always a great motivator, effective employee compensation goes beyond money, in terms of individual needs being met; such needs as psychological needs, which define human relationships and the importance of employees connecting with customers, coworkers and managers. Employees also need to feel that they are a part of a group that has achieved success (Armstrong., 2010). Texas Roadhouse could customize a flexible-hours plan that would cater to restaurant staff. And even though most employees wouldn’t necessarily have the luxury of working from home, they would still have Flexible work hours and would be given the freedom to switch time schedules with coworkers, possibly allowing them more balance between work and home-life, while demonstrating an established trust between manager and employee. With flexible work schedules, employees can leave earlier or come in later, rotate shifts, or readjust their work schedule to make it more conducive to their life-style (O’Toole et al., 2011). Another great non-cash employee incentive for Texas Roadhouse could be that of various trainings and self-developmental opportunities. Trainings are very informational and can benefit employees in many ways, as they promote excellent ways for companies to learn of their top talent, trainings will also also satisfy employees will skill deficiencies. Trainings show the employees that their employer supports career development and advancement. The various trainings will expound on existing skills by including missing tools such as, education, updated technological skills and will help promote the company’s vision for valued progress. Trainings such as employee leadership offer employees development and confidence in independent problem-solving. Texas Roadhouse could also utilize multiple customer service trainings, since they provide direct service to exterior customers. And in order for them to continue on a successful path, they must continue to find ways to teach and reteach their employees the values of world class standards and its quality to customer satisfaction. As employees are exposed to various training programs, their knowledge potential becomes greater, creating more valuable human capital to the company. 3. Discuss the possible effectiveness of each of your alternative methods. Regardless of the economy’s condition, a good leader is able to inspire and motivate its employees, as they understand that happy employees will result in the success of the business. Effective employees are a result of effective managers, and good managers reward employees for good performance through communication and various reward methods. Alternatively, non-cash rewards, such as trainings and flexible hour plans can promote happier, healthier and more motivated employees, which will lead to more productivity. A flexible hours plan can prove very effective, as this method allows employees the freedom to switch shifts, to rotate hours around the clock, or change the time of day in which the tasks will be completed. As employees are allowed this flexibility, there sense of responsibility and confidence increase, as trust and an honor system is established between the employee and the manager. Through the flexible hours plan, employees are less stressed, as they are finding more balance and time to fulfill family obligations as well, all resulting in increased employee productivity. Employee trainings may also prove to be a very effective means of motivating employees. Trainings provide many benefits, as they help to build employees skills and talents, they also can foster a greater team environment, thereby giving employees a wider range of support and comfort. Trainings and other developmental strategies can be a powerful tool, which can aid a struggling worker. Through various training sessions, employees gain problem-solving abilities, learn up-to date technology skills, and become less dependent on the manager. And finally, trainings can help manager’s spot top talent within the company. 4. Analyze how transferrable is the Texas Roadhouse way of motivating employees in other organizations. Texas Roadhouse way of motivating their employees through large cash bonuses and other annual motivational conferences are incentives, which are based on the individual managerial leadership style, and cannot be transferred to other organizations, as every leader exhibits a distinct leadership style. It is agreed that such large cash bonuses will create keen competition between employees, but each leader have their own intangibles or uniqueness, which is spelled out through their leadership strategies. And during an economic hardship, the leader may decide on future investments that would offer the employee various training sessions to build upon their existing skills and knowledge, thereby, offering the employee promotional opportunities which would increase the employees financial gain, as well as making an upgrade to the companies potential success. Leaders must also consider that different people are motivated by different things. While some employees may have financial goals, others may have professional or personal goals, and cash compensation can’t possibly fulfill all human needs. Finally, based on the needs of a company, a good leader will know what to do and how to go about planning in order to achieve a successful outcome. References Armstrong, M. (2010). Armstrong’s handbook of reward management practice. (3rd ed.). Philadelphia, PA: Kogan Page Noe, R. A., Hollenbeck, J. R., Gerhart, B., Wright, P.M. (2011). Fundamentals of human resource management (4th ed.). New York, NY: MCGRAW-HILL. O’Toole, J., Lawler, E. (2007). The new American workplace. New York, NY: Palgrave Macmillan.

The Human and Professional Values of Managers Essay Example for Free

The Human and Professional Values of Managers Essay The Human and Professional values of Managers: Impact on the profession Some values which can be related to good managers are truth; care, peace, justice and responsibility. Truth is something which is inborn in human behavior. Whether one lives by it or ignores it depends on his upbringing and surrounding factors. A person who has been brought up in an environment where lying was the way of life, will end up doing the same in future even on becoming a manager. Another value is care or love. A manager should care for his employees and respect their feelings. This is a sign of a good manager. A manager should always try to maintain peace at the workplace. He should cultivate the thought of reason and negotiation instead of aggression. Justice is a trait which is required in a manager. He should be able to judge between the right and the wrong for his employees. He should see to it that deserving candidates are rewarded for their hard work. A manager should always bear the responsibility for his actions and not shrug them. It’s generally the manager who is responsible for the subordinates work and he should deal with it and guide his subordinates to perform the best possible work. Leadership Professionalism Effectiveness Innovation Management Public Interest Participation Planning Efficiency 10. Strategy Managers may face a situation when they have to take a choice whether to follow their human or Professional Values. This can be a very tricky decision to take. A situation may arise such as he may know that a certain employee is about to be laid off in a month. But he has order from his superiors not to let him know till the last minute. Now he has to decide whether he will tell the employee the truth or be professional and follow orders. Such decisions have a big impact on the mind of the manager and all people affected by the wrong decision. For a manager, he has to always try to emulate the company values so that all his subordinates can follow his example. He always has to be punctual, responsible, and efficient so that all his subordinates follow his lead. To do might require some compromise on his home front, since to adhere to his values; he might have to work overtime, thus losing out on time spent with his family. But it will certainly cause a positive reaction from his subordinates. A manager will many a times face the dilemma of which employees to reward or relegate. This is another time at which he has to take a decision based on his values. A lot of times, a manager may be in cohorts with an employee and decide to promote him over a more deserving candidate. He may even stick to is human values and promote the right person and ignore his friend and give adequate justice. It may even be a case where you have to lay off a friend when the situation arises. However he may choose not to and not behave in a professional way. Which value will any person choose depends on the situation, consequences and his own characteristics. The Impact of Professional and Human values on managers are huge. They determine the behavior of the manager in his day to day activity. One cannot say which value a manager will employ, but whichever choice he makes determines the personality of the manager. It can lead to success or failure of a manager in his work.

Relevance Of Identifying Peoples Needs And Strengths Social Work Essay

Relevance Of Identifying Peoples Needs And Strengths Social Work Essay Explain the Relevance of identifying Peoples needs and strengths, Respecting Diversity and promoting recovery in support of your working practice. Identifying clients needs and strengths, respecting diversity and promoting recovery are part of my volunteer role, playing an important part in the treatment process and the service of Addaction. How they are identified, the reason they are used and their role in the clients journey will be incorporated in explanatory statements and reflective passages using Schà ¶ns Reflection on Actions (1983 as cited in Powell 1989). Identifying a clients needs and strengths is achievable through assessment and working in partnership. Assessment is the main tool used to identify needs and strengths, matching the type of therapeutic intervention and intensity with the needs of the client. Assessments, though part of initial screening, are on-going processes, needs change and without continual monitoring and reassessment throughout treatment, support and interventions can become unengaged to the individuals requirements. Effective assessments direct the implementation of comprehensive care and support, bearing relation to the effectiveness of treatment and positive outcomes, benefitting clients, especially those with complex needs,. Where assessment must be done by numerous services, partnership across disciplines ensures continuity of treatment and support provided. Identifying needs and strengths determines the direction of treatment, implementation and options available to clients, their suitability and required skills inclusive of wrongly focused skills and limitations. It enables treatment to be client focused and adaptable increasing the successfulness of that process. Motivation of current and future actions and intentions can be identified from a clients needs and strengths, empowering the client, giving appropriate support and access to services. Interventions must be bases on the motivations of clients, promoting engagement in services at the most appropriate level to achieve their goals. The process of identifying needs and strengths is as important as the implementation of the information gained. Inaccurate or omitted information effects subsequent service actions negatively; this is magnified in treatment outcomes, so competency levels, involvement and explanations of processes must be carefully considered and relative to the client. Using internal frames of reference and sensitivity are important, giving insight into the client situation and needs from a subjective viewpoint, facilitating good communication enables accurate information to be gathered generating effective service actions. The needs and strengths of a client can affect how care plans and actions are achieved and the method in which they are delivered. They enable the client to articulate their goals; immediate, short term and long term and put plans into motion whilst incorporating what they need, what they want and what they are good at. It allows prevention/coping methods to be put in place for skills they feel they lack or are unfamiliar with, reassessment allows feedback of the effectiveness of these strategies. Throughout treatment needs and strengths vary, physical and mental needs can affect positive or negative treatment results and being cyclic the treatment itself can have bearing on physical and mental needs of a client. Therefore continual revaluation both of treatment and needs are important to maintain balance, integrate focus and ensure the relevance of interventions. Reassessment of needs and strengths is a valuable tool, enabling clients to monitor their progress constructively and from both sides of the practitioner/client relationship. This enables adjustments and reflections on treatment, goals and support regularly involving engagement and participation from both sides. In order to achieve an effective system that meets the individual treatment needs of substance misusers, there needs to be in place a process of screening, assessment, care co-ordination and treatment review. (Department of Health, 2002 ,p8) On reflection, when a client is referred to our service a comprehensive assessment is done and identifies needs in different ways. Risk assessments, care plans and goals, aims and objective exercises identify needs and strengths and incorporate them in treatment interventions. Clients are encouraged to examine their needs and reflect on situations regularly, identifying lacking skills and additional needs using personal goals sheets. This helps evaluate treatment, enables a better understanding of aims and strengths, reassesses needs and strengthens partnerships. Ultimately by understanding the needs and strengths of a client social inclusion and recovery is promoted. The assessment and treatment process must incorporate personal, social, cultural and spiritual needs of the clients identity, the assessment and the identification of these needs assists in re- affirming forgotten and unacknowledged needs, in their current lifestyle, to the client. Diversity brings richness of experience, knowledge and understanding of the practitioner and client, developing and generating mutual respect and acceptance. Diversity enables both growth and development, creating flexible views and consideration of alternative values. Open mindedness, positive regard and non-judgemental practices enhance the practitioner/client relationship, stimulating communication and insight, obtaining positive treatment results by acknowledging and respecting diversity. Respecting diversity enables tailored insight into the clients values and principles, treatment respectful of their diversities can be incorporated into care and support, enhancing the experience and outcome. Services have an obligation to comply with current legislation to promoting diversity, avoid discrimination and to acknowledge and compensate for any difficulties or boundaries caused by adopting a strategy positive to diversity. All parts of assessment and care should encompass the individuals needs in relation to diversity. Issues of cultural diversity and the development of culturally competent services are essential ingredients of effective treatment systems. (Department of Health, 2002, p28) Social exclusion through prejudice and discrimination, towards the client, can manifest as conflict, verbal confrontation, perceived accusations or blame initiated by adopting practices disrespectful of diversity. Social inequalities can be highlighted through diversity, acknowledgment of difference and the fear of difference can present challenging and emotional situations. Such situations if respectful of difference can engage, confront and offer insight though must allow for sensitivity and active participation. Respecting diversity within the workforce is especially relevant for those being treated for substance misuse, due to the range of services and providers, from generic health care, social care to criminal justice. A diverse workforce provides a high quality service with specialist skill set and experiences enhancing the treatment process for clients. (Department of Health, 2002, p) Understand and acknowledging diversity was part of my initial volunteer training, incorporating the diversity of clients and services. Our service has many different aspects to it throughout the criminal justice system, respecting the diversity of environments and clients are essential. Diversity training helps me acknowledge and understand environments and clients enhancing my professional relationships and working practices, inclusive of the diversity of the team that I work with. Within my volunteer placement, my two mentors are from different back grounds, one is ex-police and the other is an ex-substance user. They bring different skills, experiences, viewpoints and methods to the role but with the same principles and outcomes, this benefits the clients and myself, giving a richness and diversity to my placement and the clients experience. Recovery is unique to the individual, personalised to the client and subjective. To facilitate recovery it is important to address the values and principles of practitioners and clients, enabling understanding, acknowledgment and providing a service based on the clients needs. In order for change to take place, using The Cycle of Change Model (1982 as cited in Davidson, R. 2002), external situations, goals, needs and strengths must be identified, even with the integration of multiple issues, each must be considered on individual merit. Facilitation of change needs to be done by empowerment of the client, enabling the understanding of issues and implementation of coping strategies to be achieved. Recovery is seen to be an outcome of treatment, though in reality it is a sequence of events, inclusive of vulnerabilities and breakdowns that determine breakthroughs and achievements. Often these setback are vital opportunities to grow, learn and change, facilitated by the practitioner, determined by the clients own choices, actions and goals. Clients are experts in their own recovery and experiences, participation must be promoted around this knowledge and insight gained to deliver tailored programmes of care. To achieve recovery focused outcomes, the treatment system needs to become more responsive to individual needs. (NTA, 2010, p5) Recovery may differ in interpretation inclusive of reduction, maintenance, stabilisation or abstinence based goals, each determined by the client and of equality importance. Recovery includes the implication of health education, risk prevention and harm reduction methods, drug use though not desired is possible and recovery though achievable may not be permanent. Constant assessment, reassessment and reviews are vital during the recovery process, addressing multiple topics and reviewing interventions, time to investigate and explore is necessary to facilitate change. To facilitated change the programme of care must adapt and respond, promoting and believing in recovery. Hope is vital enabling the client to see that outcomes are achievable, hope and belief in the clients potential is vital to change and the success of implemented care. There is always hope of recovery and it is vital to communicate that from the start in all mannerisms. (Stickley Basset, 2008, p133) On reflection, our treatment programmes have time constraints and though the foundations of recovery and the cycle of change are implemented full recovery occurs outside our service. Our perception of recovery within our service is the identification of needs and strengths, the beings of change, hope and the belief that a client is beginning on their journey with the tools, goals, the service support required to achieve their individual recovery goal. To conclude strengths and needs, respecting diversity and promoting recovery are all vital parts of the treatment process, each facilitating and supporting the recovery process. Each is interconnected and interdependent in the implementation of care, treatment and the facilitation of recovery. The successful implementation of each of these positively influences the possible treatment outcomes for the client. Strengths and needs require on-going assessments and include respecting diversity within aims and interventions, which is part of promoting unique recovery, enabling and empowering clients to achieve their desired goals. 1584

Financial Performance Benchmarking in the Electricity Distribution Indu

A Review of Research Literature Results on Financial Performance Benchmarking in the Electricity Distribution Industry Introduction Since the late 1980s, there has been significant regulatory reform in the electricity transmission and distribution industries in many countries. Under traditional cost-of-service rate regulation, companies recover their costs under a regulated rate of return, which may provide little incentive to minimize costs. Alternatively, incentive or performance based regimes are designed to incent productive efficiency by compensating the company for achieving costs savings. Joskow [1] and Joskow and Schlalensee [2] discuss a number of economic regulatory models have been proposed in the literature. According to Jamasb and Pollitt [3], incentive regulation usually involves some form of benchmarking or comparison of actual versus some reference level of performance. We will review the literature results on benchmarking methods for electricity distributors. Jamasb and Pollitt [3] published the results of an international survey on the use of benchmarking in incentive regulation of electricity transmission and distribution utilities. Farsi et al. [4] provide a summary of benchmarking methods used in regulation in several countries. Both of these survey papers cite Corrected Ordinary Least Squares (COLS), Data Envelopment Analysis (DEA) and Stochastic Frontier Analysis (SFA) as methods commonly employed in electricity distribution benchmarking. After briefly describing several models of incentive regulation, we compare the literature results presented in each survey paper ( [3], [4] ) with respect to the techniques mentioned above (COLS, DEA, and SFA). We then present addition results from the literature on th... ...-specific efficiency levels in parametric, semi-parametric and non-parametric settings. Sickles, R. 2005, Journal of Econometrics, Vol. 126, pp. 305-334. 30. Estimation of technical inefficiiency in panel data models with firm and time specific effects. Kumbhakar, S.C. 1991, Economics Letters, Vol. 36, pp. 43-48. 31. Panel estimates of a two tiered earnings frontier. Polachek, S. and Yoon, B. 1996, Journal of Applied Econometrics, Vol. 11, pp. 169-178. 32. Reconsidering heterogeneity in panel data estimators of the stochastic frontier model. Greene, W.H. 2005, Journal of Econometrics, Vol. 126, pp. 269-303. 33. Kuosmanen, T. Stochastic semi-nonparametric efficiency analysis of electricity distribution networks: application of the StoNED method in the Finnish regulatory model. Aalto University School of Economics. s.l. : Social Science Research Network, 2011.

A Feminist Reading of Pauls Case Essay -- Feminism Feminist Women Cri

A Feminist Reading of Paul's Case  Ã‚   At first glance, it may be considered difficult to give a feminist interpretation of "Paul's Case" by Willa Cather, because there is not much mention of women in the text. However, this fact alone gives good reason for a feminist reading of the story. The lack of the presence of females in this story supports the idea that women were not considered an important part of society during Willa Cather's lifetime. In "Paul's Case," the story revolves around a young male. He is the main character. There are very few mentions of women, however, when they do come into the story they are only mentioned briefly, or they play minor, secondary characters. Paul's mother and sisters are spoken about once during the entire story, while there are four references to his father. The females in his family are mentioned only in passing and remain flat characters, while his father is referred to several times, each time involving an action or comment which exhibits an aspect of his father's personality which makes him a more rounded character. Other references to women in this story involve stereotypical characterizations of them. In "Paul's Case," women are often made out to be weak, in contrast to the references to men who worked and performed physical labor. Two instances in the story effectively demonstrate this stereotypical weakness. First, one of Paul's teachers commented, "I happen to know that he was born in Colorado, only a few months before his mother died out there of a long illness." This remark makes Paul's mother fragile and sickly; since she is a weak woman, she is overtaken and killed by her illness. Another example of this stereotype is when Paul includes his sister in his lies, "hi... ...t the Venus of Milo as he passed her on the stairway." Paul may have had probable cause to dislike his teacher, however, the statue had done nothing to provoke him aside from being female. The distasteful gesture he made towards the statue embodies his attitude towards the entire female gender. "Paul's Case" is clearly product of the influences of a patriarchal society. Women are not allowed a prominent role in any part of the story, which is evidence of the influential patriarchal society's oppression of women. When women are actually mentioned in the story, it is in a stereotypical and/or demeaning manner. Although the gender of the narrator is not discernible, this story was written by a woman who's views were heavily effected by the opinions of the society in which she lived, which is apparent through the actions, views, and attitudes of her characters.