Uk Legal System And Compare

Uk Legal System And Compare United Kingdom and Northern Ireland consist of four countries which form three distinctive jurisdictions each of which has its own court system and legal profession. These three jurisdictions are England Wales, Scotland, and Northern Ireland. The union of Great Britain and Ireland established United Kingdom in 1801, and it attains its present form in 1922 with the partition of Ireland and thus the independent Irish Free State has been established. In 1973 UK joined the European Economic Community, which is the European Union, when it is required to integrate the European legislation into UK law and to become responsive to the jurisdiction of the European Court of Justice in issues of European Union. A significant constitutional transformation came into existence when the Labour government came into power in 1997. They straight away introduced a process of decentralization, i.e. decentralizing some areas of government to the constituent countries of the UK: separate Scottish Parliament and a Welsh Assembly were established. The European Convention of Human Rights which has UK as its participant and it is been integrated into UK law, in the same year the Human Rights act was passed i.e. 1998. Thus provisions of Conventions can be directly applied to the UK courts. Actually there is no written constitution for the country. The Queen is the head of the state, even though the ultimate power of the Crown is conceded by the government of the day. The legislature is a two-tier parliament. A count of 659 Members of Parliament makes the House of Commons, by a general election that comes across every 5 years with a simple majority vote. The Government has the power to call for an election at any time, but to make the electoral advantage secure they do these voting every 5 years. The constitutional law of the UK is considered as consisting of statue law on the one hand case law on other, whereas the judicial model is applied in the courts by judges deducing statue law. The third element includes constitutional conventions which do not consist of legislative power but how ever has an obligatory force [1]. Constitutional Reform The Labour government now introduced constitutional alterations in 3 distinct areas: the transformation of the House of Lords, devolution, and the passing of the Human Rights Act 1998. The reformation of the House of Lords was really a long process, by eradicating the voting rights of all the aristocrats who remains until the house is totally altered. Proposals that were put forward by the Royal Commission on the reformation of House of Lords were published in 2000 as a command paper: A House for the Future (Cm 4534) [2] along with government proposals put down in The House of Lords: Completing the Reform (Cm 5291) [3]. The Human Rights Act was passed in 1998, integrating into the UK law rights and freedoms assures by the European Conventions on Human Rights. Even though the UK had been a participant to the European Conventions on Human Rights since 1951, this act gives the provisions of the conventions to be integrated into the domestic law. This makes it clear that the concern of the human rights affects every part of the government. Some of the effects of decentralization were: The Department for Constitutional Affairs (DCA) was launched in 2003, and it swaps the Lord Chancellors Department. Its changed responsibilities such as holding and administering the judicial system, human rights, and electoral and constitutional reform. DCA administers the Court Service and watch over judicial appointments. The responsibility of Lord Chancellor has been modified, with the possessor renamed Secretary of State for Constitutional Affairs and Lord Chancellor, resigns his functions as Speaker of the House of Lords and as a judge. These changes are mainly brought in by the Constitutional Reform Act 2005 and it also made important changes to the courts and the judiciary. The Court System Civil courts Civil cases initially are heard in the County Courts actually its for minor claims or the high Court, which is divided into 3 divisions: Queens Bench, Family and Chancery. Cases can be appealed to the Court of Appeal. Cases may also be appealed from the County Court to the High Court. The structure of the UK courts is shown below [4] . The majority of civil actions are heard in the 218 county courts, which also handles family and bankruptcy hearings. The value of claim decides in which manner the case has to be dealt with. The work is handled by three divisions, depending on its subject: Chancery Division: equity, trusts, tax, bankruptcy Queens Bench Division: contract, tort, commercial matters Family Division: divorce, children, probate. House of Lords is the supreme court of appeal. The judicial functions are quite different from its legislative work and the cases are heard by around 13 senior judges known as Lords of Appeal in Ordinary, or Law Lords. The Constitutional Reformation Act 2005 endow with the establishment of a supreme court to reinstate the judicial functions of the House of Lords with an independent appointment system, thus making a constitutional division between legislature and the judiciary. Judicial Committee of the Privacy Council is responsible for hearing cases from the British overseas territories and dependencies as well as domestic appeals. Cases regarding powers and functions of the devolved legislatures are also heard in these courts. Along with these courts there are also specialized tribunals, which take into account different appeals on decisions made by several public bodies and Government departments like employment, immigration, social security, tax and land. Criminal courts Criminal cases initially are heard at the Magistrates Court, serious ones being heard in the Crown Court. Appeals are mainly heard in the Court Of Appeal Criminal Division [5]. The Crown Court and Magistrates Court can be replaced by a cohesive Criminal Court with 3 divisions: Crown Division now the Crown Court to hear jurisdiction over all criminal matters and the more serious offences allocated to it, the District Division, comprise of a judge usually a District Judge or Recorder and at least 2 magistrates, to hear the jurisdiction over a mid range and in case of serious issues merit up to 2 years custody and the Magistrates Division comprised by a District Judge or Magistrates are to work out their present jurisdiction. The Magistrates Division would assign cases according to the significance of the suspected offence and the situation of the defendant. In the affair of an argument, a District Judge would determine the matter after hearing the version of prosecution and the defendant. The defendant has no right of selection of any of the division. LEGAL SYSTEMS The United Kingdom has 3 legal systems for its 3 separate jurisdictions; English Law for England Wales, Northern Ireland follows some common law principles and finally Scots Law for Scotland. England Wales English Law English law, which refers to the legal system administered by the courts of England Wales for both civil and criminal matters. English law has its own distinctive legal canon, separate from civil law [6] (civil law in which the sources known as reliable are legislation mainly codification in the constitution that are passed by the government and also the custom.) [7]. Actually the laws are not made a part of an organized system and also the laws are developed by judges in the court. Earlier times the justices and the judges were in charge if adapting the Writ system for the everyday needs to for building up a consistent law [8]. For e.g., the Law Merchant began in the Pie Powder Courts. When the Parliament developed in its capacity and focus to the canon of separation of powers, the legislation overtook the judicial law making. Senior Courts of England and Wales consist of Court of Appeal, the High Court of Justice and the Crown Court. The Supreme Court is the highest court for both criminal and civil appeal cases in England Wales and also Northern Ireland. English Law became one of the two legal systems in different parts of UK and also greatly influenced by Scots Law after the Acts of Union in the year 1707 [9] particularly in the development and incorporation of law merchant by Lord Mansfield and also with the development of law of Negligence. Northern Ireland Common Law The law of Northern Ireland is a common law system. It is managed by the courts of Northern Ireland, with The law of Northern Ireland is a common law system. It is administered by the courts of Northern Ireland, with supreme appeal to the Supreme Court of the United Kingdom in both civil and criminal matters. The countrys law is almost similar to the English Law with some of the rules of common law being transferred to the Kingdom of Ireland. The basis for the law of Northern Ireland is English Common Law and Statute Law. Scotland Scots Law Scots law is an inimitable legal system with an origin from Roman law. It also characterizes elements of common law with some feudal sources. This shows that Scotland has varied or mixed legal system compared to South Africa and to a certain extent it has codified systems of Louisiana and Quebec. The Acts of Union has shared legislature with the rest of the UK. In those days Scotland, England Wales each has separate or distinct legal systems, but the Union act brought some English influence on Scots law. Later on the Scots law was also affected by both European laws under the Treaty of Rome and with the Establishment of Scottish Parliament. Court of Session, for the civil cases and the High Court of Justiciary for criminal cases are the chief courts. The Supreme Court of the United Kingdom functions as the ultimate court of appeal for civil cases under Scots Law. Sheriff courts deals with most of the civil and criminal cases including criminal trials with a jury known as sheriff solemn court with a sheriff and no jury which is known as sheriff summary court. UK Legislatures United Kingdom Parliament The Parliament of United Kingdom is two- tier consisting of an upper house i.e. the House of Lords and a lower house i.e. the House of Commons. The House of Lords comprise of two types of members: the Lords Spiritual, he is the senior bishops of the Church of England and the Lords Temporal. The House of Common is an elected chamber democratically. These two houses gather in separate chambers in the Palace of Westminster in the City of Westminster in London. All government ministers including the Prime Minister are members of either the House of Commons or House of Lords [10]. Northern Ireland Assembly The Northern Ireland Assembly is the decentralized legislature of Northern Ireland. It has got the authority to enact in broad areas that are not overtly reserved to the Parliament of the United Kingdom, and appointed the Northern Ireland Executive. It is situated at Parliament Buildings at Stormont in Belfast. The latest embodiment of the Assembly was established under the Good Friday Agreement a commitment by all parties for exclusively peaceful and democratic means of 1998[11] . The Assembly is a unicameral democratically elected body consisting of 108 members who are known as Members of Legislative Assembly, or MLAs. Scottish Parliament The Scottish parliament is located in the Holy rood area of the capital Edinburgh. Unofficially the Parliament is referred to as Holy rood, the Parliament consists of 129 members who are democratically elected, and they are also called Members of Scottish Parliament or MSPs. The members of the Parliament are elected for four year terms under the Additional Member System of proportional representation an attempt to ensure that the outcome of the election reflects the proportion of support gained by each competing group [12]. The original Parliament of Scotland or also known as Estates of Scotland was the national legislature of the independent Kingdom of Scotland, and it existed till the 13th century until the Kingdom of Scotland merged with Kingdom of England under the Acts of Union 1707 to figure the Kingdom of Britain. As a result the Parliament of Scotland unites with Parliament of England to form Parliament of Great Britain, which is situated at Westminster in London. WORKING OF UK LEGAL SYSTEM England Wales Criminal law Criminal law or penal law, its a body of rules that describes the behaviour which is considered illegal because it is believed to threaten, harm or otherwise imperil the safety and welfare of the public. The law is actually insisted by the state itself and the one who breaks these laws are prosecuted in court. Capital punishment is obligatory in some jurisdiction for almost all serious crimes, physical or corporal punishments are also imposed such as whipping or caning [13]. Individuals are also enslaved in prison or in jail depending upon the jurisdiction. Length of imprisonment may vary from day to life. House arrest or fines are also imposed on the convicts who done the crime. The main objectives of this law by punishment are retribution, deterrence, incapacitation, rehabilitation and restitution. Some of the selected criminal laws are fatal offenses [14], personal offenses, property offenses, participatory offenses, mala in se v. mala prohibit a. Civil Law Civil law deals mostly the disputes between the individuals or corporate bodies and swathe a large array of areas which includes: landlord and tenant disputes, insolvency, small claims, consumer disputes, personal injury claims, divorce cases, race, sex and disability discrimination cases, debt problems wills and libel. [15]According to this law it is important that there should be 50 percent probability that the defendant is responsible for dispute. In both these cases the prosecution and the defence try to convince the court that one side is right and other is wrong. In criminal cases, the jury decides whether the prosecution or the defence are guilty and the final decision of sentence is issued by the judge himself. But in the case of civil and family cases the judges alone decides or announces who is the convict based on the evidences presented. In England and Wales prisoners are assigned different security classes when they are sentenced. The categories of prisoners in descending order are: Category A: prisoners whose escape would be highly dangerous to the public or national security. Category B: prisoners, whom which do not require maximum security, but the escape needs to be made very difficult. Category C: prisoners who cannot be trusted in open conditions but who are improbable to escape. Category D: prisoners who can be quite trusted that they dont try to escape, and are given the privilege of an open prison. Northern Ireland The countrys legal system is almost similar to England Wales [16]. The Lord Chancellor is responsible for court administration through the Northern Ireland Court Service. It deals with the policy and legislation concerning criminal law, the police and the prison system. Criminal law Criminal law is mainly concerned with establishing and upholding social order and protecting the community. The rules of this law are meant to persuade and keep up an orderly and safe living for every citizen. If anyone is found at fault they can be fined, given a community penalty or may be sent to a prison. Civil law Civil law is almost similar to the law of England and Wales i.e. cases must be verified by the balance of probabilities rather than the beyond reasonable doubt which is applied in criminal cases. Scotland The Scottish Executive Justice Department manages the issues regarding civil and criminal law. The Parliament makes or passes laws on those issues on which where it has the right to act independently, in such situation it can change or discards the acts of UK Parliament and it can passes new and separate legislation for Scotland. Scots Law The Scots Law and Scottish Legal system has a protracted history, which dates back to the medieval period. The uprightness and independence of Scots law were accredited in the 1707 Act of Union which eliminates the Scottish Parliament and forms a new UK Parliament at Westminster. Scots Law carves up many of the legislative provisions with the law of England and Wales [17], even though the Scots Civil Law remains significantly based on Scots Common Law. Scots Civil Law has some elements which got basis from the Roman Dutch Law. INDIAN LEGAL SYSTEM The Government of India, formally known as the Union Government (Central Government) and was found by the Constitution of India and it is the governing power of a union of 28 states and 7 union territories, collectively called the Republic of India. It is situated in New Delhi, the capital of India. The Indian Government Consist of 3 branches: the executive, the legislative, and the judiciary. The Executive branch is headed by the President of Country who is known as the head of the state and he implements his powers through officers under him or directly. The Legislative branch or the Parliament has two houses: lower house called the Lok Sabha[18], and the upper house called the Rajya Sabha. The Judicial branch has the Supreme Court at its top level, 21 high courts and number of civil criminal family courts at the district level. The civil and criminal laws governing the citizens of the country are governed by the parliamentary legislation such as the Civil Procedure Code, the Indian Penal Code and the Criminal Procedure Code. The legal system applied to the federal and individual state governments is based on the English Common (laws which are developed by the judges on the basis of decision of court and similar tribunals rather than by the legislative statues)[19] and Statutory Law (law that is made by the legislature and codified or written in code books) [20]. [21]India has a Parliamentary system of government which is largely based on that of the United Kingdom i.e. the Westminster System[22] (A democratic system of government which was modelled after that of UK and it is followed in many of the Common wealth nations such as Canada, Australia, Singapore, Jamaica, Ireland, New Zealand India.) The legislature of the country is Parliament. Its two-tier system, with two houses: Lok Sabha in which the 545 members are directly elected called House of the People also known as lower house, Rajya Sabha in which the 250 members are indirectly elected called Council of States also known as upper house. Council of Ministers as well as the Prime Minister is the members of the Parliament, if they are not members then they should be elected within a period of six months from the time they take up their respective positions. Individual responsibility Every individual minister takes care of the specific bureau or bureaus. He is supposed to answer any act of failure in all the policies relating to his ministry. In case any slip up, he himself is responsible to the Parliament. If a vote of no confidence vote or motion in a legislative body censuring an aspect of or indicating a lack of majority support for a government policy [23] is passed against a the minister then he is forced to resign from his position, in such situation the Prime Minister can ask for resignation of the minister to save his government and the people have say. Collective Responsibility The prime Minister and the Council of Ministers together are answerable to the Lok Sabha. So if there is a policy failure from the governments part members of the council are responsible. In such situation if a vote of no confidence is passed then all the ministers headed by the Prime minister have to resign from their position. Judicial System The Supreme Court in India is the eventual exponent of the constitution and the laws of the country [24]. It has appellate jurisdiction over all civil and criminal events involving substantial matter concerning the explanation of the constitution. The court has the unique and exclusive jurisdiction to determine the arguments between the central government and one or more states and union territories as well as between states and union territories. The Supreme Court has a broad or ample flexible powers to hear special appeals on any matter from any court expect those of armed services. It is also known as court of records and oversees every high court. Twenty five associate justices and one chief justice serve on the Supreme Court. Chief justice is appointed by the President, the associated judges are also appointed by the President after consulting with Chief justice. The appointments do not require Parliaments accord, and the justices cannot be removed from their position until they reach the binding retirement age 65. The Supreme Court has power to decide cases under [25]. Original jurisdiction Argument between central government and government of one or more states. Argument between central government and the governments of one or more states on one side and the governments of one or more states on other side. Argument between two or more states. Appellate jurisdiction: Supreme court is the final court of appeal. An appeal against the high court can be filed in the supreme court. If any of the parties is not satisfied with the decision of the high court appeals can be brought to constituitional, criminal and civil cases. Advisory jurisdiction: President may ask for the advice of the Supreme court on any matter of public importance. Features of Indian Legal System Written Constitution Constitution is generally a written document and affirms India to be a sovereign, socialist, secular, democratic republic and it represents the reservoir of enormous power. The Indian Constitution is an inimitable mix of rigidity and flexibility and it is a political document and also known as Bag of Borrowings [26] which mete out the power of the state amongst different structures i.e. between central and state government. Indian government is democratic and republican and is governmental through adult authorization. The Rule of law The term Rule of Law is derived from French phrase la principe de legalite (The principle of legality), that means a government based on the principles of law and not of men. According to ancient scriptures, Law is the King of Kings and there is nothing higher than law. The rule of law contains 3 principles [27]. Supremacy of Law: This means that no man is punishable or can legally be made to bear in body or goods expect for a discrete violation of law launched in an ordinary legal manner. It means that a man can be penalized for the violation of law but cannot be penalized for any other things. A suspected offence is supposed to be attested before the ordinary courts in harmony with the ordinary procedure Equality before Law: This means that no man is above the law. Every citizen whatever his position focuses on the ordinary law of the land and agreeable to the jurisdiction of the ordinary tribunals. Predominance of Legal Spirit: This means that general principles of the constitution are the result of judicial decisions for determining the file rights of private person in association with the cases brought to the court. Independence of Judiciary It is a principle that the judiciary should be politically defended from governmental and the exclusive power, this means that the court should not be exposed to culpable influence from other sections of government or personal interest [28]. One way to prop up judicial independence is by giving life term or long term for judges, which allows them to decide cases and make laws according to the rule of law and judicial discretion. Overview of Indian Court Structure The exclusive feature of Indian constitution is its judiciary. Single incorporated system of courts manages both union and state laws. The Supreme Court of India The Supreme Court of India is the highest court of the land. It is the vital explainer and protector of the constitution and the laws of the land. It is the highest court of petition or appeal. It takes up request against judgments of the regional high courts. The Supreme Court of India consists of Chief Justice of India and 30 other judges who are appointed by the president. High Courts High court is head of each states judicial administration. There are around 21 high courts for Indias 28 states, 6 union territories and one national capital territory. These courts have a power over a state, a union territory or a group of states and union territories. As the part of the judicial system the high courts are officially free of state legislatures and executives. Each high court within the country is a court of record for implementing original and appellate jurisdiction inside a state or territory. It also issues proper writs in cases regarding constitutionally assured fundamental rights. The high court controls or over sees all courts within its jurisdiction, expect for which deals with armed forces and can transfer constitutional cases to it from the lower courts. The said court have original jurisdiction on revenue matters. They under take original criminal cases by a jury, but not civil cases. According to article 141 of the Constitution of India all courts in the l and including high court are bound by the orders of Supreme Court. High courts are controlled by the chief justice. Judges of high court are appointed by the president of India after consulting with the Chief Justice and the governor of the state. Lower Courts High court has the power of supervising the lower courts within its jurisdiction namely the district and session courts and their lower courts [29]. The district and the session courts consist of the lowest level of courts and are also known as trial courts and it applies both federal and state laws. States are divided into districts and inside each district a district judge and sessions judge heads the judiciary. A district judge is in charge of all civil cases and sessions judge over the criminal cases. State Governor after consulting with the states high court appoints these judges. Civil cases are filed in Munsif courts, also known as sub district courts. Lesser criminal cases are handed over to the subordinate magistrates working under the high court. Village level disputes are mostly resolved by Panchayats or Lok adalats. Executive The President of India is the Head of the State and the Commander-in-Chief of the armed forces [29]. He is elected by the democratic board composed of members of both the Houses of Parliament and the legislatures of the nations constituent states. The President holds the position for 5 years and he can be re elected. The president does not normally implements any constitutional powers on his own inventiveness. But these are done based on the instruction given by the Prime Minister and the Council of Ministers. The Prime Minister is appointed by the President, who is chosen by the legislators of the political parties. President then appoints other ministers on after consulting with the Prime Minister. Prime Minister can remain in office only when he or she enjoys the majority support from the Parliament. The Vice President is elected by the members of both the houses the lower and the upper houses of Parliament. The Vice President takes the power of President in case of death or resignation of the current President. Indian legal system is mostly based on the English common law and statutory law, and most of the state and the territorial law are based on English common law. Indias dedication to law is created in the constitution which made India into a sovereign democratic republic, which contains a federal system with law-making form of government in the union and the states. The main resources of law in India are the Constitution, statutes, customary law and case law. Parliament, state legislatures and Union Territory legislatures endorse the statutes. In addition to that there is a huge body of laws known as subordinate legislation in that form of rules regulations made by central and state governments and local authorities like municipal corporations, municipalities, Gram Panchayats and other local bodies. Subordinate legislation is made under the authority s assigned either by the parliament or state or union territory legislatures. The official publications of laws of India are recorded in major parliamentary legislation such as the India Code. Indian laws stick on to the United Nations guidelines on human rights laws and the environmental law. .

Comparing and Contrasting PCs and mainframes Essay

Before the existence of personal computer or PC, there is minicomputer or microcomputer, the term â€Å"computer† simply referred to mainframes. Mainframes and personal computers have changed drastically over the years but their core functions and systems have stayed the same. The mainframe is used to connect multiple users for large organizations, while personal computers are generally used for a single user. The more drastic changes for mainframes and personal computers have been the increase of speed, memory, and the reduction of size. Mainframes use to be the size of buildings, now they are the size of a normal Intel blade server system. Last time when you need to access the mainframe you need to use a terminal for data entry or retrieve certain data. Then, the idea came to off load some of the processing from the mainframe and place it on a personal computer. Compare A mainframe is not much difference from a personal computer. There are many similarities between mainframes and personal computers which stands to reason since one evolved from the other. Both mainframes and personal computers have one or more central processor units, a huge number of memory, one or more busses, and one or more I/O systems. Another similarity between the two is that they are both IBM-based systems and similar hardware is used to build them. They can also perform some complex calculations, applications and handle multiple programs. Another area is that both require operating system to work and also to handle and optimize all the I/O systems or modules. Differences Although they are much similarity between the mainframes and computer as mention above, the similarity stop there as they are many differences too. Mainframes cost much more in terms of thousands of dollar than a normal personal computer or server. The mainframe nowadays takes up less space and less power consumption compare to a server farm task to do the same job. As mention (Shurkin, 1996), Transaction processing jobs run constantly in real-time and must be available more than 99. 99% of the time. The reboots and lock-ups common with PCs are simply not acceptable. Thousands of individual users can log in simultaneously from a variety of sources such as computer terminals, ATM, or Internet web sites, and complete a single transaction. Time-sharing jobs can be started when needed from a computer terminal by authorized users who then use the mainframe as their own big PC. Finally, batch jobs are started automatically by the system at regular times according to a strict predetermined schedule. Batch jobs are used to do the periodic processing required on the data being received from transaction and time-sharing jobs. Closing the accounting books at month-end or copying disk files to tape for backup are examples of batch type processing. The OS or Operating System in a mainframe such as from IBM z/OS which is the successor to the IBM OS/390 can run Multiple Virtual Systems (MVS). The new IBM z/OS support WebSphere ® Application Server on z/OS, and also the new zFS (System z File System) Direct I/O capability in z/OS. This help to enhance performance improvements to the system, and also provide an easier Parallel Sysplex functionality (IBM, September 2011). In an article by (Barnett G, 2010) stated that the mainframe is best suited for enterprise cloud computing as it is easily able to handle hundreds of complex applications or programs, and most important able to run hundreds of environment in a single physical footprint and easily deliver the 24Ãâ€"7 availability that our customers demand. Conclusion (Doerbecker & Patterson, 2002), stated that the role of the mainframe has gradually changed from that of a data processor to that of a server, with the processing being done on the user’s PC. It has also been modified to interface to the Internet through the addition of TCP/IP protocols, Unix, and Java programming, to enable businesses to connect to their customers over that network. Once the only form of business computer available, the mainframe has survived the PC revolution and maintained an important function in commercial computing.

Commercial Fixture Essay

Suggested questions for the Commercial Fixtures Inc. case are given below. 1. What would you as an outside third party bid under the same conditions (with the same information) for the entire company (both halves)? Why? 2. What do you expect Albert Evans to bid for Gordon’s half interest? Why? 3. What should Gordon Whitlock bid for Albert’s half interest? Why? 4. How would you structure the purchase of the business? Question #1 is a business valuation question. There are a number of ways to estimate the value of a business. You have probably covered one or more of these ways in a previous class. The next two pages review a few of the various ways to go about it. For a discounted CF approach of valuing Commercial Fixtures Inc., I will use the following template: VALUATION APPROACHES – OVERVIEW/REVIEW 1. Comparable Trades Analysis — Using valuation ratios, or â€Å"multiples† of comparable firms Use one or more valuation ratios, which include (a) Price-Earnings (b) Market-Book (c) Price-CF (d) Price-Revenues (e) Enterprise Value to EBITDA, and (f) Other ratios. The prospective value (price) of the subject firm is quantified into—and compared with—one or more of the valuation ratios of its peers. The better the performance of the subject firm relative to comparable firms in the relevant performance measures (as measured by operating ratios), the higher the appropriate valuation ratio for the firm (and vice-versa). 2. Liquidation Value, aka Book Value approach Place liquidation values on the net working capital and fixed assets of the firm. Include tax write-off benefits, if any. This approach is rarely useful, and will typically serve as a minimum value (unless the firm is in severe distress). 3. (i.) Discounted Present Value of the Firm’s Free Cash Flows   Ã¢â‚¬â€ commonly referred to as DCF Valuation, or WACC valuation Value of the Firm = PV of future free cash flows + PV of terminal value a.Estimate the first 3 to 10 years’ free cash flows and calculate the PVs. (A five year horizon is common, but this can vary.) Typically you will use the WACC as your discount rate. Depending on the circumstances, the estimated cash flows may be available for fewer than five years, or more than five years. b.Estimate the PV of the terminal value. One estimate for the terminal value involves assuming perpetual cash flows after the initial time horizon, e.g.: i.If the cash flow after 5 years is expected to grow at a rate g for the foreseeable future: Terminal Value5 (TV5) = FCF6 /(k – g) = FCF5 (1+ g) / (k – g)., where k is the required rate of return. You must discount the TV to time 0, and then add this to the PV of the FCFs during the projection horizon. ii.If the cash flow at the end of 5 years is not expected to grow, i.e., g=0, then the general formula collapses to the PV of a no-growth perpetuity: Terminal Value5 = FCF6 / (k-g) = FCF5 (1+ g)/(k – g) = FCF5 / k c.Use the Value of the Firm equation above, i.e. sum PV of free cash flows + PV of terminal value . The Value of the firm’s Equity = Value of the Firm – Debt Currently Outstanding. 3. (ii.) Adjusted Present Value approach — we will only briefly discuss this approach; a topic for a future finance course. 4. Comments on Valuing the Firm using DCF (or WACC) and APV valuation approaches a.Watch the free cash flows (not reported earnings)! In particular, as in the capital budgeting decision process: –Depreciation charges are not cash outflows. –Investment in new property or equipment is a cash outflow. –Increases in net working capital are cash outflows. –Taxes are cash outflows b.Do not subtract interest expense from FCFs. We want to estimate a value for the whole business. The return to creditors is reflected in the discount rate used. c.Consider other factors, such as a control premium or a lack of marketability discount. These are mentioned in your textbook, and we will discuss these in class. d.Notice the sensitivity of your estimated firm value to changes in assumptions, particularly the perpetual terminal growth rate, and the discount rate. Typically a range of firm values is calculated from various ranges of these two rates (as suggested in the template on p. 1), particularly when uncertainty is high.

Experiential learning - Free Essay Example

Sample details Pages: 24 Words: 7164 Downloads: 5 Date added: 2017/06/26 Category Statistics Essay Did you like this example? My Position Statement Having completed my high school studies at the English Grammar School in Cyprus which I enjoyed very much since it involved the fundamental resources that I required in order to study a degree abroad. I have decided to apply for a position as a student at the University of East London (UEL). London has a very long tradition in the world of Business Finance and, in my opinion, the metropolis of the world has always been the centre of thrilling developments which as a child I have been watching and admiring. As two years of military service are compulsory in Cyprus, to challenge myself and follow my personal ambitions I decided to join the Navy Seals which is the most disciplined and hardest section of the army. I then joined the navy as I was interested in that part of the army as well and then joined the mechanised units to gain more experience. Completing my military course was the right decision as I gained a lot of strengths. This role assisted me in achieving and enhancing group work and communication skills. In working together as a group we also learned to support and encourage each other (a necessary skill in the business world) and to achieve the maximum level of our competencies in order to get through our army training. I learned the importance of punctuality when I was in the navy seals where I was required to be always on time in order to avoid any punishment and penalties that could have resulted in my expulsion from the army, or in some cases to be severely mentally and p hysically abused. However some of my weaknesses that included short temper and reacting to orders from my captain who seemed useless to me. Another weakness of my character that I have come to realise during my military service was my lack of patience and self confidence when it came to dealing with unknown situations and tasks that I was not fully aware of, for example learning different battlefield strategies required during action. Don’t waste time! Our writers will create an original "Experiential learning" essay for you Create order During my military service I also got involved in organising parties and events with a colleague of mine which assisted me in advancing my leadership abilities and improving my position of responsibility. With this experience I realised another of my weaknesses, that of being self-opinionated and argumentative when organising things. After I was discharged from my two years of military service, I then applied for a job as a temporary assistant property consultant. The experience that this work offered me was vital as it taught me how to cope in real life situations where people partly depended on me. I have learned and experienced managing parts of the promotion of property portfolio of the company, company structure, appreciation, formulating sales strategy and residual values. Admittedly I have realised how little I knew and how much I still need to learn. I admired watching the decision makers in action and their positive aggressive thinking. As for my free time, sports were a part of my life as I did a lot of swimming and competitive boxing excelling in 65kg weight and joining the Cyprus national boxing team. I also enjoy socialising, meeting new people, travelling, and discovering different cultures. Even though I am very sociable and like to meet different people, I try avoiding people that are hypocrites, have no vision or goals in their lives as they can influence me in a negative way and prevent me from completing my goals. To conclude I have deep interest in how the world of business finance operates. This is something that intrigued me since I was a child and it is my personal ambition to qualify and work in the United Kingdom, and hopefully in the future, to accomplish my long term goal in expanding my familys business in Cyp Comments on skills and initial self targets The skills audit handout gives you a detail analysis of different abilities that an individual may possess, by completing this handout I came to realise many strengths and weaknesses of my character. I consider myself relatively good in analysing skills due to the fact that when it comes in identifying similarities and differences, I can easily cope with assignments that relate towards this. As I was assigned to complete an essay based upon similarities and differences of a manager, in a large and small business, I managed to complete without any dilemmas. There was recently a group presentation of a module that I am studying which required different tasks for each group member to be carried out. My role was conducting a research on the companys marketing mix which involved searching relevant information and cataloguing it. I trust that within the limited resources that were available to me I related my findings to the company relatively well. Admittedly I always like working with other people in completing certain tasks as other people have different ideas and perspectives on how a work should be submitted. By putting down different ideas this assists in generating similar ideas that may be used in completing the task. Sometimes conflicts may occur when the group is working together since everybody has a certain way of presenting their ideas. The quality of work that needs to be completed in relation to high school studies varies in the way of writing and the verbal skills required. As a result I am not being fully aware when submitting a good piece of work. Working with a group gives me confidence that the work is divided into sections that group members feel comfortable dealing with. When working individually, however, a person may come across difficulties and has only himself to rely on for dealing with the issues that he faces. By managing my time and setting my priorities straight I usually meet and handle all the problems that I encounter, however when it comes in meeting unexpected queries I find it very difficult since time is working against me and cannot resolve those appropriately. I plan on improving myself by considering all of the factors including the unexpected ones and face the problem rather than going around it. When it comes to following instructions to resolve a problem, I believe that I am relatively good because I listen carefully to what the instructor or any other person explaining the problem has to say. Then by writing down the problem I break it into steps which I can easily comprehend and by following my steps methodically will bring me to the desired outcome. I find it difficult however in assessing the complexity of a problem because I keep asking myself several questions and keep on daydreaming of the theory behind a problem rather than solving it. Consequently instead of putting theory into practise I keep on wondering, which slows me down from solving the problem. Now that I am aware of what is causing me from assessing the complexity of a problem my aim is to find a way from preventing the same mistake, by focusing on the main core of the problem rather than giving attention on minor issues that are not really related to it. In relation to communication and presentation I believe that I recognise key issues well for the reason that when a tutor is explaining a topic I know something important is mentioned when the volume of the tutors voice is changed. In addition when I read I attempt to look for the key words that are mentioned in the text in order to understand and be able to explain in my own words the passages meaning. When answering a question I usually drift out of the subject and sometimes I elaborate on points that are irrelevant to the question, I do this because there are times that I do not break the question down. I have trouble when presenting my work written and verbally. This is because I was living in another country where English language is not compulsory. Even though I have difficulties in speaking the English language and takes me more time in completing a task compared to a UK resident this helped in improving my body language when having a conversation. I intend however to attend E nglish language support classes in order to improve my English verbally and achieve a better understanding in how written work should be formatted. My IT skills have improved a lot since studying for ECDL assisted me in a great scale. I can therefore produce this document without difficulties occurring. Even though I have basic knowledge when using a computer I am unaware to some extend the problems I could meet using a computer. To conclude I believe completing the skills audit handout helped me not only in realising the strengths and weaknesses I have, but also gave me a more detailed analysis on how I can improve them. While completing this handout, I have identified the reasons behind my adequately high skills and my skills that need a deeper improvement. SMART Action Plan By completing my skills audit, I revealed two of my skills that need to be improved significantly, one being that I hardly meet deadlines and improving my verbal skills. Due to the fact that I cannot organise my time effectively to meet deadlines, I considered an idea of creating a calendar that will meet each activity of the week. The calendar will be created on the 2nd of February Monday, one week before my second semester to certify that I will input my universitys timetable by that time and the extra curricular activities I will be involved into. I will conduct the calendar in a way that ensures I divide each activity for the period of time that represents it. By checking my calendar every night I make sure that I keep progress with my time table every day. I also have to come up with different à ¢Ã¢â€š ¬Ã…“back upà ¢Ã¢â€š ¬? strategies when meeting unforeseen queries. By à ¢Ã¢â€š ¬Ã…“back upà ¢Ã¢â€š ¬? strategies I mean being deprived of socialising or even reducing my t ime of sleep. I will know when I have achieved my goal when I am not being deprived of my sleep and by completing my assignments several days before the deadlines. By doing this I will be able to show my work to tutors and receive important feedback on how I will be able to improve my work. By implementing the above strategies I trust that my learning will improve radically. A reason why my verbal skills are not improved dramatically is because that even if I live on campus, I tend to hang out more with people from my country and so I do not practise my verbal skills as much. I plan relating them to my calendar so I can have a balance of time when socialising with people of my country and people from campus. Socialising with fellow students of my dorms will help me to improve my English as I will be compelled in talking in English. Evaluation of Progress By carrying out the tasks that are related to my SMART action plan I believe that I will benefit in improving both of my skills weaknesses. By associating time with English speaking students made me realise that my English has been significantly improved. I trust that now when speaking verbally I talk without any restraints than before, even though I conduct few grammar mistakes when speaking. In addition to this, it has helped gaining confidence in completing tasks and assignments faster as I tend to write down my thoughts and then elaborating on them. Having conversations with English speaking students who interrupt me when being grammatically wrong and correct me by explaining to me my mistakes. This assists me in enhancing the English language better. By creating a SMART action plan this will help me in my future learning, in the way that now I will be more organised and I will be able to meet all of my obligations in a given time. Meeting my SMART actions plans requirements is very significant as it will not deprive me of meeting my deadlines of assignments. If I had constructed a SMART action plan before this assignment, then I would not rush as I rush now to submit assessments on time. Following my SMART action plan for the second semester will be my first priority for the reason that by following my action plan, I automatically ensure that all other priorities are met. NOTES AND REFLECTIONS ON MY MEETINGS WITH MY PERSONAL TUTOR Coming from a two year gap of studies since I had to meet with my army obligations back in Cyprus, I realised the need of emphasising on my meetings with my personal tutor in order to serenely return to my educational studies and improve my studying skills and orientate in my new environment. My first meeting with my tutor was on the 29th of October. At the specific date, I presented some of my work (C.V). Positively the studying methods I used to study were not wrong. While receiving help on how to improve my C.V, I was also instructed on the material I had to study. Opinions and comments on 29/10/08 were carefully used for my own benefit to improve my studying skills. The next meeting was on 10th of December 2008, a meeting considered of vital importance in my own personal point of view. Based on an essay I presented, I was guided on where and how to use specific techniques in my writings. Additionally I was guided to à ¢Ã¢â€š ¬Ã…“createà ¢Ã¢â€š ¬? a diary where my ideas would be listed in a way that would be of significance assistance on improving my organization. Following my second meeting I knew how to tackle my à ¢Ã¢â€š ¬Ã…“problemsà ¢Ã¢â€š ¬? of organization and writing. I tried on implementing with the à ¢Ã¢â€š ¬Ã…“techniquesà ¢Ã¢â€š ¬? guided and follow my tutors suggestions. Constitutive progress in all aspects (pointed out in 10/12/08) was reached. My third and final meeting took place on 17th of December 2008, I presented my essay using guide lines and techniques taught where I attempted in meeting the expected standards of this specific assignment. Although I failed on answering the essay effectively and wrote mostly irrelevant material as my personal tutor stated, I was also given positive signs of improvement since it was said that my writing skills improved and are superior compared to my speaking skills. It was obvious to me that I needed more studying as far as in comprehending the question. It also proved to me that I improved my writing skills with the appropriate guidance I put myself along with hard work. Thus I strongly believe that despite the fact that my essay might have been irrelevant to the subject, previous mistakes were not repeated and thats a positive sign. My personal tutor advised me in speaking more with English-speaking people so that my speaking in English could be improved since it was made clear to me that as far as writing is concerned I do not posses a lot of issues. On the other hand, as far as my verbal skills, problems of expressing myself arise. This is probably due to the fact that there is not much time to think as in writing. In order to deal with this problem, I blindly followed the advice mentioned above. Comparing my skills in the beginning of the academic year with now, I believe that I have noticeably improved my writing and verbal skills. Each meeting had its own significance. After each meeting I attempted in following the à ¢Ã¢â€š ¬Ã…“instructionsà ¢Ã¢â€š ¬? given to me and implementing them on my assignments. Being able to reflect on my mistakes I learn how to avoid repeating them. Achieving this objective, I will keep moving on the track of improvement. Objective I aspire to be involved in the world of finance and thus choosing the Business Finance degree at the University of East London will assist me in achieving my goal. Hence my goal is to become a successful business financial consultant at first, and in the future achieving my long term goal to expand my familys property business in the future. Education and Qualifications: September 2008 University of East London Business Finance (BA Honours) September 1999-June 2006 The Limassol Grammar School  § 2006 School leaving Certificate (Apolitirion)  § 2006 A-Levels: Greek (B), Economics (B) Mathematics (E),  § 2004 GCE O-Levels: 6 O levels including English (C) and Greek (A) Work Experience and positions of responsibility: August 2008 Evelthon Developments Ltd, Cyprus Temporary Assistant Property Consultant  § Real Estate Planning and Development  § Managing the promotion of a property portfolio of the company in Limassol July 2006-2008 Cyprus National Guard, Cyprus  § Navy Seals special forces soldier (group work abilities, disciplined hard military training)  § Mechanised Infantry soldier (leadership abilities, communication skills) 2005-2008 PNC (Petros and Chris) party organisation, Cyprus Head Organiser  § Enhancing my public relation skills amongst with interpersonal communications skills  § A-Z organisation of the events IT Skills  § Internet  § Microsoft Office Word  § Microsoft Office Excel  § Microsoft Office Outlook Personal Details  § Excellent Health, Non- Smoker  § EU Driving License since Oct 2005  § As for my extra curricular activities, sports played a significant role in my life. I did a lot of swimming and competitive boxing excelling in 65-69kg weight. Referees Work/employment Evelthon Developments Ltd, Cyprus Name: Charis Economides Position of Responsibility: Marketing Director Phone Number: +35799621082 Comments on my C.V The first draft of my C.V. was à ¢Ã¢â€š ¬Ã…“perfectà ¢Ã¢â€š ¬? from my point of view. My first meeting with my tutor however, made me realise how little I knew in conducting a C.V. and how much I still have to learn. There were little details that as a student would have never been able to give notice as opposed to my tutors experience where she spotted those errors straight away. Little details included like bullet points that were different in one heading and in addition the layout of the C.V. had to be improved; for example, the space between paragraphs. The draft included information that I thought was relevant to what an employer is seeking such as the modules I am currently undertaking in the first year. My tutor revealed à ¢Ã¢â€š ¬Ã…“little tricksà ¢Ã¢â€š ¬? of her own on how to manipulate the wording of a sentence while retaining the same meaning. At the end of my meeting with my tutor I became conscious that details count in a C.V in order to make it stand out from t he rest.  · CV WITH EDITED NOTES CANNOT BE INCLUDED, BUT WAS SUBMITTED ON THE 19TH  · INTEGRITY QUIZ SUBMITTED AS WELL ON THE 19TH  · RECORDS OF ACHIEVEMENT ON ECDL SUBMITTED ON THE 19TH With reference to at least two theories, analyse what is meant by learning styles. Identify your own learning style, then define and justify the strategy you will adopt to gain the most benefit out of your studies. It is important for students to comprehend the different learning styles that exist in order to be able to use them and assist them with their future studies by exploring their influences. There are many theories on how learning styles are defined. People tend to think of the word à ¢Ã¢â€š ¬Ã‹Å"learning as a way of gaining new knowledge or abilities. Even though there is not a single definition of what a learning style is, in order to explain what is meant, firstly there must be a clear understanding of the theories this essay will be examining. After identifying my own learning style, see below, through a number of on-line tests and by investigating fully the learning theories, this essay will explain how it is possible to adapt different scenarios in my studies and how they will assist me in my future learning. This assignment will be looking into experiential learning and V.A.R.K learning theories that reflect on how different learning styles are adapted. Experiential theory is based upon the theory that people learn by observing, what is taught in practical sessions and it also suggests that individuals may improve themselves by learning from their mistakes and their experiences. Kolbs à ¢Ã¢â€š ¬Ã‹Å"learning cycle reflects on this theory. Kolbs diagram signifies the following four phases: concrete experience, where the learner has an experience in a task that will lead to reflective observation, in this phase the learner observes, thinks carefully and deeply in order to understand the experience. The next phase is abstract conceptualization, where the individual intends to adapt a theory on what was observed. The last phase of Kolbs theory and this is where the circle is completed is active experimentation, where the individual plans on testing a hypothesis and/or acts to produce a new experience. Kolb states that a learner may start from any phase but follow the sequence of the phases as it is presented in the following diagram: Kolbs theory states that if a phase of this circle is not met by the learner, then learning cannot take place. For example by experiencing something without considering the reflection of it, may result in repeating the same action repeatedly without understanding how the learning may be enhanced. Honey and Mumford (1982) interpreted Kolbs learning model to four similar learning styles each substituting to one of Kolbs stages. Honey and Mumford also stated that human beings tend to have a preference in the different kinds of learning, depending from their circumstances and the way they experience the learning. They argue that individuals shift between their different styles of learning rather than staying in one or even combining two of them in order to input the information they gain more effectively. In addition Honey and Mumford argue that even though the stages are presented in this series, they believe that a learner may start from any phase, encircle the stages constantly, and stop once they enhance the task but follow the series of the stages as it is shown here: Honey and Mumford (1992) stated and identified learning styles as à ¢Ã¢â€š ¬Ã…“a description of the attitudes and behaviour which determine an individuals preferred way of learningà ¢Ã¢â€š ¬? They identified and translated the four learning styles into Kolbs stages as follows: à ¢Ã¢â€š ¬Ã…“Pragmatistsà ¢Ã¢â€š ¬?, are individuals that learn best when putting theory on practical issues and apply fresh ideas, this style of learning reflects on à ¢Ã¢â€š ¬Ã‹Å"active experimentation. A à ¢Ã¢â€š ¬Ã…“reflectorà ¢Ã¢â€š ¬?, is someone that learns through researching, analysing and evaluating the learning he experienced; this style represents the à ¢Ã¢â€š ¬Ã‹Å"reflective observation. A à ¢Ã¢â€š ¬Ã…“theoristà ¢Ã¢â€š ¬?, is an individual that likes to interpreter his learning into his own theories by following a procedure that will fit into his scepticism; a theorist learning style stands for à ¢Ã¢â€š ¬Ã‹Å"abstract conceptualization. à ¢Ã¢â€š ¬Ã…“Activistsà ¢Ã¢â€š ¬?, are active learners that enjoy being involved in the experience; this learning style corresponds to à ¢Ã¢â€š ¬Ã‹Å"concrete experience. After completing several self awareness tests, I have identified my learning style as that of a reflector. Reflectors like to review their experiences and look at them from different angles. They also possess some weaknesses, such as holding back from being involved into group presentations. Reflectors tend to spend too much time in gathering their thoughts together and fail to notice and concentrate on essence of discussion at a given time. As a reflector I have to be able to adopt different strategies that will assist me in my future learning. What follows is a list on how my learning may advance. As a student when going to seminars I may have to ask myself what I become aware of and what conclusion can I draw from different perspectives. Another way I can progress myself is by creating a diary on my computer and spend a small amount of time per day in reviewing and writing down the facts of each day. Admittedly, I can practice by participating in other peoples groups sessions, whose discussions may not have any relation to me. Notice the communication between the members of the group. Paying attention in who makes the most effective comments and who is quieter as well as who is more judgemental, opinionated or loyal to his original thoughts. When a new assignment is given to me, I have to be able to set a programme with targets and periods of time for collecting relevant information. When reading the other learning styles however, I believe that I am a bit of a pragmatist as well as I possess some of its characteristics and I also learn when concentrating on doing practical issues. In addition to the above theory this essay will also be examining the V.A.R.K theory. Fleming and Mills (1992) based their theory on four different learning preferences; they believed that one of these four learning styles reflected on learners. V.A.R.K stands for visual, aural, read/write and kinesthetic. Visual these are learners that prefer by watching something visual such as videos , as their brain tends to remember and learn more when having pictures in their heads. Aural these are learners that learn best when listening as they can memorise what is taught more easily. Read/ write individuals who are more capable of learning when they read rather than listen or watch, for the reason that they understand a task better by taking notes. Kinesthetic people who are hyperactive and cannot stay at one place for a long time, they best learn when they are actively involved in doing physical and practical tasks. According to Fleming and Mills, a person learns best by one of the above categories. There is a VARK questionnaire that provides learners who use it the learning preferences that are most suited for them. The result of the test showed that I have a mild Kinesthetic learning preference. This means that when handling physical tasks I learn best because there are no restrictions in my movement and I am capable of handling objects very well. Basically I need to perform tasks practically to understand what I am doing. Since I am not an aural learner I now understand why I find it difficult when attending a lecture in writing down notes. I have to categorize different scenarios where I can progress my learning. Some of the ways which will help me are by forming activities, using illustrations and learning hand gestures that accompany my written notes. By doing this I may experience learning and I trust this is the best way for a kinesthetic to learn. Since I have a kinaesthetic learning preference I must improve as well the other learning styles in order to comprehend better a task when studying, for example taking time to write down notes (Read/Write learning style). In addition, by having discussions with another kinesthetic learner we can exchange ideas and tips on how to improve our studying. A kinesthetic learner learns best when constructing or using models that reflect his studies, an example may be using a new mobile phone instead of reading the instructions of it. I plan on using all of the above strategies now that I know how I prefer to learn, and hope that this will be useful guiding me towards better understanding. I believe however as I was completing the test that the test results must not be treated as absolute. As I recall before starting the test, the instructions stated that more than one answer may be used for each question. There were several questions that all of the answers could be selected, by selecting all of the answers then the outcome of my result would be different. One example is as following: You have a problem with your knee. You would prefer that the doctor: described what was wrong. used a plastic model of a knee to show what was wrong. gave you a web address or something to read about it. showed you a diagram of what was wrong. Personally, I prefer the doctor carrying out all of the above tasks in order for me to have a better perspective of what injury I have. If I was to select all of the above options the result of my learning preference would be changed. Understanding these theories students may find ways to tackle issues by using many different strategies, which apply to their learning preferences and enhance their knowledge by understanding subjects better. To conclude, all the above theories I discussed in this paper are just theories and my state of comprehension and understanding of a problem and how I contribute to a solution will fluctuate between the different learning preferences, depending on experience, age, successes and failures and nature of the problem. Bibliography Learning Theories Knowledgebase (2008, December). Experiential Learning (Kolb) at Learning-Theories.com. Retrieved December 18th, 2008 from https://www.learning-theories.com/experiential-learning-kolb.html Coffield F. (et al). (2004). Honey and Mumfords Learning Styles Questionnaire (LSQ). In: Unknown Learning Styles and pedagogy in post-16 learning: A systematic and critical review. [Online www] [https://www.nwlink.com/~Donclark/hrd/styles/honey_mumford.html] [https://www.lsda.org.uk/files/PDF/1543.pdf] London: Learning and Skills Research Centre. p.156-160. (Dec 18th 2008) Bastable B. Susan. (2007). Interpretation of the Use of Learning Style Models and Instruments. In: Unknown Nurse as Educator: Principles of Teaching and learning for Nursing Practice. 3rd ed. Unknown: Jones and Bartlett. p.136-138. D. Fleming N (2006) VASK Questionnaire, [Online www ]https://www.vark-learn.com/english/page.asp?p=questionnaire ( Dec 18th 2008) Pearson Education, Inc. (2008) [Online www] [https://wps.pearsoned.co.uk/ema_uk_he_cameron_bustuhndbk_4/75/19427/4973363.cw/index.html] (Dec 18th 2008) Catherine McLoughlin. (1999). à ¢Ã¢â€š ¬Ã‹Å"Designing learning materials: A procedural approach to integrating learning styles research into instructional materials. in Australian Journal of Educational Technology 18th Dec 2008 [Online www]: https://www.ascilite.org.au/ajet/ajet15/mcloughlin.html. TurnitinUK Originality Report With reference to at least two theories, analyse what is meant by learning styles. Identify your own learning style, then define and justify the strategy you will adopt to gain the most benefit out o by PETROS AVGOUSTI From Essay on learning syles (SM1007 2008-9 Sem A, Studying for Business) Processed on 19-12-08 1:34 AM GMTID: 2795730Word Count: 1879 Overall Similarity Index: 7% sources: 3% match (student papers from 20/03/07) Submitted to Coventry University on 2007-03-20 2% match (student papers from 17/12/08) Submitted to University of East London on 2008-12-17 1% match (student papers from 02/11/07) Submitted to University of Durham on 2007-11-02 1% match (student papers from 22/11/04) Submitted to Harper Adams University College on 2004-11-22 Thomas F. Hawk. Using Learning Style Instruments to Enhance Student Learning, Decision Sciences Journal of Innovative Education, 1/2007 Submitted to Bolton Institute of Higher Education on 2008-08-20 Submitted to University of Derby on 2007-12-18 paper text: With reference to at least two theories, analyse what is meant by learning styles. Identify your own learning style, then define and justify the strategy you will adopt to gain the most benefit out of your studies. It is important for students to comprehend the different learning styles that exist in order to be able to use them and assist them with their future studies by exploring their influences. There are many theories on how learning styles are defined. People tend to think of the word à ¢Ã¢â€š ¬Ã‹Å"learning as a way of gaining new knowledge or abilities. Even though there is not a single definition of what a learning style is, in order to explain what is meant, firstly there must be a clear understanding of the theories this essay will be examining. After identifying my own learning style, see below, through a number of on-line tests and by investigating fully the learning theories, this essay will explain how it is possible to adapt different scenarios in my studies and how they will assist me in my future learning. This assignment will be looking into experiential learning and V.A.R.K learning theories that reflect on how different learning styles are adapted. Experiential theory is based upon the theory that people learn by observing, what is taught in practical sessions and it also suggests that individuals may improve themselves by learning from their mistakes and their experiences. Kolbs à ¢Ã¢â€š ¬Ã‹Å"learning cycle reflects on this theory. Kolbs diagram signifies the following four phases: concrete experience, where the learner has an experience in a task that will lead to reflective observation, in this phase the learner observes, thinks carefully and deeply in order to understand the experience. The next phase is abstract conceptualization, where the individual intends to adapt a theory on what was observed. The last phase of Kolbs theory and this is where the circle is completed is active experimentation, where the individual plans on testing a hypothesis and/or acts to produce a new experience. Kolb states that a learner may start from any phase but follow the sequence of the phases as it is presented in the following diagram: 4Concrete Experience Reflective Observation Active Experimentation Abstract Conceptualisation Kolbs theory states that if a phase of this circle is not met by the learner, then learning cannot take place. For example by experiencing something without considering the reflection of it, may result in repeating the same action repeatedly without understanding how the learning may be enhanced. Honey and Mumford (1982) interpreted Kolbs learning model to four similar learning styles each substituting to one 6of Kolbs stages. Honey and Mumford also stated that human beings tend to have a preference in the different kinds of learning, depending from their circumstances and the way they experience the learning. They argue that individuals shift between their different styles of learning rather than stayin g in one or even combining two of them in order to input the information they gain more effectively. In addition Honey and Mumford argue that even though the stages are presented in this series, they believe that a learner may start from any phase, encircle the stages constantly, and stop once they enhance the task but follow the series of the stages as it is shown here: Honey and Mumford (1992) stated and identified 7learning styles as à ¢Ã¢â€š ¬Ã…“a description of the attitudes and behaviour which determine an individuals preferred way of learningà ¢Ã¢â€š ¬? They identified and translated the four learning styles into Kolbs stages as follows: à ¢Ã¢â€š ¬Ã…“Pragmatistsà ¢Ã¢â€š ¬?, are individuals that learn best when putting theory on practical issues and apply fresh ideas, this style of learning reflects on à ¢Ã¢â€š ¬Ã‹Å"active experimentation.A à ¢Ã¢â€š ¬Ã…“reflectorà ¢Ã¢â€š ¬?, is someone that learns through researching, analysing and evaluating the learning he exper ienced; this style represents the à ¢Ã¢â€š ¬Ã‹Å"reflective observation. A à ¢Ã¢â€š ¬Ã…“theoristà ¢Ã¢â€š ¬?, is an individual that likes to interpreter his learning into his own theories by following a procedure that will fit into his scepticism; a theorist learning style stands for à ¢Ã¢â€š ¬Ã‹Å"abstract conceptualization. à ¢Ã¢â€š ¬Ã…“Activistsà ¢Ã¢â€š ¬?, are active learners that enjoy being involved in the experience; this learning style corresponds to à ¢Ã¢â€š ¬Ã‹Å"concrete experience. After completing several self awareness tests, I have identified my learning style as that of a reflector. Reflectors like to review their experiences and look at them from different angles. They also possess some weaknesses, such as holding back from being involved into group presentations. Reflectors tend to spend too much time in gathering their thoughts together and fail to notice and concentrate on essence of discussion at a given time. As a reflector I have to be able to adopt dif ferent strategies that will assist me in my future learning. What follows is a list on how my learning may advance. As a student when going to seminars I may have to ask myself what I become aware of and what conclusion can I draw from different perspectives. Another way I can progress myself is by creating a diary on my computer and spend a small amount of time per day in reviewing and writing down the facts of each day. Admittedly, I can practice by participating in other peoples groups sessions, whose discussions may not have any relation to me. Notice the communication between the members of the group. Paying attention in who makes the most effective comments and who is quieter as well as who is more judgemental, opinionated or loyal to his original thoughts. When a new assignment is given to me, I have to be able to set a programme with targets and periods of time for collecting relevant information. When reading the other learning styles however, I believe that I am a bit of a pragmatist as well as I possess some of its characteristics and I also learn when concentrating on doing practical issues. In addition to the above theory this essay will also be examining the V.A.R.K theory. Fleming and Mills (1992) based their theory on four different learning preferences; they believed that one of these four learning styles reflected on learners.V.A.R.K 5stands for visual, aural, read/write and kinesthetic. Visual these are learners that prefer by watching something visual such as videos , as their brain tends to remember and learn more when having pictures in their heads. Aural these are learners that learn best when listening as they can memorise what is taught more easily. Read/ write individuals who are more capable of learning when they read rather than listen or watch, for the reason that they understand a task better by taking notes. Kinesthetic people who are hyperactive and cannot stay at one place for a long time, they best learn when they are acti vely involved in doing physical and practical tasks. According to Fleming and Mills, a person learns best by one of the above categories. There is a VARK questionnaire that provides learners who use it the learning preferences that are most suited for them. The result of the test showed that I have a mild Kinesthetic learning preference. This means that when handling physical tasks I learn best because there are no restrictions in my movement and I am capable of handling objects very well. Basically I need to perform tasks practically to understand what I am doing. Since I am not an aural learner I now understand why I find it difficult when attending a lecture in writing down notes. I have to categorize different scenarios where I can progress my learning. Some of the ways which will help me are by forming activities, using illustrations and learning hand gestures that accompany my written notes. By doing this I may experience learning and I trust this 1is the best way for a kinest hetic to learn. Since I have a kinaesthetic learning preference I must improve as well the other learning styles in order to comprehend better a task when studying, for example taking time to write down notes (Read/Write learning style). In addition, by having discussions with another kinesthetic learner we can exchange ideas and tips on how to improve our studying. A kinesthetic learner learns best when constructing or using models that reflect his studies, an example may be using a new mobile phone instead of reading the instructions of it.I plan on using all of the above strategies now that I know how I prefer to learn, and hope that this will be useful guiding me towards better understanding. I believe however as I was completing the test that the test results must not be treated as absolute. As I recall before starting the test, the instructions stated that more than one answer may be used for each question. There were several questions that all of the answers could be selected , by selecting all of the answers then the outcome of my result would be different. One example is as following: 1You have a problem with your knee. You would prefer that the doctor: described what was wrong. used a plastic model of a knee to show what was wrong. gave you a web address or something to read about it. showed you a diagram of what was wrong. Personally, I prefer the doctor carrying out all of the above 3tasks in order for me to have a better perspective of what injury I have. 3If I was to select all of the above options the result of my learning preference would be changed. Understanding these theories students may find ways to tackle issues by using many different strategies, which apply to their learning preferences and enhance their knowledge by understanding subjects better. To conclude, all the above theories I discussed in this paper are just theories and my state of comprehension and understanding of a problem and how I contribute to a solution will fluctuate be tween the different learning preferences, depending on experience, age, successes and failures and nature of the problem. Bibliography Learning Theories Knowledgebase (2008, December). Experiential Learning (Kolb) at Learning-Theories.com. Retrieved December 18th, 2008 from https://www.learning-theories.com/experiential-learning-kolb.html Coffield F. (et al). (2004). Honey and Mumfords Learning Styles Questionnaire (LSQ). In: Unknown Learning Styles and pedagogy in post-16 learning: A systematic and critical review. [Online www] [https://www.nwlink.com/~Donclark/hrd/styles/honey_mumford.html] [https://www.lsda.org.uk/files/PDF/1543.pdf] London: Learning and Skills Research Centre. p.156-160. (Dec 18th 2008) Bastable B. Susan. (2007). Interpretation of the Use of Learning Style Models and Instruments. In: Unknown Nurse as Educator: Principles of Teaching and learning for Nursing Practice. 3rd ed. Unknown: Jones and Bartlett. p.136-138. D. Fleming N (2006) VASK Questionnaire, [Online www ]https://www.vark-learn.com/english/page.asp?p=questionnaire ( Dec 18th 2008) Pearson Education, Inc. (2008) [Online www] [https://wps.pearsoned.co.uk/ema_uk_he_cameron_bustuhndbk_4/75/19427/4973363.cw/index.html] (Dec 18th 2008) Catherine McLoughlin. (1999). à ¢Ã¢â€š ¬Ã‹Å"Designing learning materials: A procedural approach to integrating learning styles research into instructional materials. in Australian Journal of Educational Technology 18th Dec 2008 [Online www]: https://www.ascilite.org.au/ajet/ajet15/mcloughlin.html. Word Count: 1543 (Excluding Bibliography, In-text Referencing and essay title) Bibliography Learning Theories Knowledgebase (2008, December). Experiential Learning (Kolb) at Learning-Theories.com. Retrieved December 18th, 2008 from https://www.learning-theories.com/experiential-learning-kolb.html Coffield F. (et al). (2004). Honey and Mumfords Learning Styles Questionnaire (LSQ). In: Unknown Learning Styles and pedagogy in post-16 learning: A systematic and critical review. [Online www] [https://www.nwlink.com/~Donclark/hrd/styles/honey_mumford.html] [https://www.lsda.org.uk/files/PDF/1543.pdf] London: Learning and Skills Research Centre. p.156-160. (Dec 18th 2008) Bastable B. Susan. (2007). Interpretation of the Use of Learning Style Models and Instruments. In: Unknown Nurse as Educator: Principles of Teaching and learning for Nursing Practice. 3rd ed. Unknown: Jones and Bartlett. p.136-138. D. Fleming N (2006) VASK Questionnaire, [Online www ]https://www.vark-learn.com/english/page.asp?p=questionnaire ( Dec 18th 2008) Pearson Education, Inc. (2008) [Online www] [https://wps.pearsoned.co.uk/ema_uk_he_cameron_bustuhndbk_4/75/19427/4973363.cw/index.html] (Dec 18th 2008) Catherine McLoughlin. (1999). à ¢Ã¢â€š ¬Ã‹Å"Designing learning materials: A procedural approach to integrating learning styles research into instructional materials. in Australian Journal of Educational Technology 18th Dec 2008 [Online www]: https://www.ascilite.org.au/ajet/ajet15/mcloughlin.html. CV WITH EDITED NOTES CANNOT BE INCLUDED, BUT WAS SUBMITTED ON THE 19TH INTEGRITY QUIZ SUBMITTED AS WELL ON THE 19TH RECORDS OF ACHIEVEMENT ON ECDL SUBMITTED ON THE 19TH https://www.nwlink.com/~Donclark/hrd/styles/honey_mumford.html https://www.vark-learn.com/english/page.asp?p=questionnaire