The Literature On Equality Dated Back Long Ago - 1625 Words

The literature on equality dated back long ago and was more of a statistical issue prior to Rawls’ philosophical contribution. The Rawlsian philosophy was based on providing justice beyond maximizing the civil liberties. His idea – ‘difference principle’ -was to make people equal by having a set of institutions that allocate the worst off individuals the maximum level of ‘primary goods’. He viewed, in this regard, primary goods as the goods necessary for the success of any life plan and hence ensuring an equal primary good bundles is a way of making a person responsible for his life plan choice. The other philosophers like Jensen (1969) and Herrenstein (1971) deduced in their papers that the existence of inequality is due to differential intelligence of the individuals and hence rendering the society an equal income distribution is merely an imagination. Their views were contradicted by the other thinkers like Bowles (1973) and Colinsk (1974) w ho thought of the inequality as an outcome of unequal opportunity. However, it was Dworkin (1981), Arneson (1989) or Cohen (1989) who introduced the personal responsibility into the literature on equality. Dworkin (1981 a,b) argued about how lack of internal resources can be overcome by external wealth distribution and introduced responsibility into achieving the equality in the society. Unlike Rawls, Dworkin emphasized on preferences instead of primary goods and showed that preferences of individuals matter into the welfareShow MoreRelatedFeminine Mystique, By Betty Friedan1843 Words   |  8 Pages In Feminine Mystique, Betty Friedan writes about women s inequality from men to women s equality to men, while also writing about women accepting the inequality to women and then fighting for equality. 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Complete the appropriate Mentor Agreement form and sign the student’s Capstone Project Proposal signature sheet upon approval of the completed proposal. 6. Maintain a record of activities related to your workRead Morerhetorical analysis of obamas political speeches5660 Words   |  23 Page sfreedom is defined largely in terms of the social and political rights of individuals as â€Å"immunity from interference by others in his life, either by state or church or by other individuals†. Justice, on the other hand, is â€Å"understood in terms of equality and the end of oppression in the social world – ‘fair play’.† (cited in Hunter 1991: 114) The American Revolution is seen as a fresh start for mankind to create a â€Å"better world†. The Democratic Party became the advocate for all the inequalitiesRead MoreAnalysing Observation in Social Work Essay10487 Words   |  42 Pagesand allow the reader to create a verbal picture of the behaviours as they unfold. 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No part of this work covered by the copyright hereon may be reproduced orRead MoreLgbt19540 Words   |  79 PagesLGBT history and Timeline of LGBT history Further information: Terminology of homosexuality Before the sexual revolution of the 1960s, there was no common non-derogatory vocabulary for non-heterosexuality; the closest such term, third gender, traces back to the 1860s but never gained wide acceptance in the United States.[13][14][15][16][17][18] The first widely used term, homosexual, originally carried negative connotations and tended to be replaced by homophile in the 1950s and 1960s,[19] and subsequentlyRead MoreI Love Reading Essay69689 Words   |  279 Pages 2006, page 16; see also, Report of the Symposium on the Small Business Innovation Research Program, National Research Council, USA, 2007. See also, ‘What it takes to be an Entrepreneur’, speech by CK Prahalad to GLIM Chennai, Hindu Business Line dated February 25, 2008, as quoted in http://www.ibef.org; according to the provisional data of the Fifth Economic Census (2005) there are 42.12 million ‘enterprises’ in India engaged in different economic activities (other than crop production and plantationRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 PagesNational Standard for Information Sciences—Permanence of Paper for Printed Library Materials, ANSI Z39.48-1992 Printed in the United States of America 2 4 6 8 9 7 5 3 1 C ONTENTS Introduction Michael Adas 1 1 World Migration in the Long Twentieth Century †¢ Jose C. Moya and Adam McKeown 9 †¢ 2 Twentieth-Century Urbanization: In Search of an Urban Paradigm for an Urban World †¢ Howard Spodek 53 3 Women in the Twentieth-Century World Bonnie G. Smith 83 4 The Gendering

Escape from camp 14 by Blaine Harden Free Essay Example, 1500 words

For as long as Shin can remember, he thought of himself as the product of a sin. Camp 14 was one of the many labor camps in North Korea where people were detained for as long as they live and generations were punished for the mistakes that their ancestors made. The reason Shin was in his prison was because his parents were there, and they were there because Shin’s uncle had committed the heinous crime of trying to escape. Easily, generations were imprisoned and they paid for the mistakes and crimes that they never committed. Shin was merely four years old when he witnessed the first death sentence of his life. The trauma that he experienced cannot be described. The first ever memory of Shin is of the brutal execution of a man, â€Å"Then there were gunshots and I remember being very scared. †(Lunch with the FT: Shin Dong-hyuk) Living in this atmosphere, Shin had no idea of the world outside, for him Camp 14 was home. His entire childhood was spent doing harsh physical labor that obviously was never paid for. We will write a custom essay sample on Escape from camp 14 by Blaine Harden or any topic specifically for you Only $17.96 $11.86/pageorder now Even the slightest of mistakes were rewarded with greater punishments. Shin has the tip of his middle finger missing, and this was the result of him dropping a sewing machine. Body parts being cut was just the tip of the ice berg as far as punishments were concerned, people were easily beaten to death, literally. (Lunch with the FT: Shin Dong-hyuk) The list of Shin’s horrific tale from Camp 14 is never ending, just as we think that this is it, it cannot get any more brutal, and it does. For twenty three years, Shin paid for crimes he never committed, instead he got used to the instructions and code of conduct there. So much that he told on his mother and brother about their escape plan, which eventually led to their death. This act of his can easily be associated with the Stockholm syndrome, a condition in which the person subjected to abuse and torment bonds emotionally with the abuser and considers him as the â€Å"good one. † (Counselling Resource)Since Shin had lived in those horrific circumstances since the day he was born, he was accustomed to the â€Å"All according to Rules and Regulations† code. Anyone who tried to escape was supposed to be killed instantly, thus he told on his own mother and brother in hope of a reward, which was a meagre extra portion of food. (Lunch with the FT: Shin Dong-hyu k) Over the time, Shin’s painful past has led to a very major and intense impact on him mentally. For every normal individual, going through such extreme circumstances from such a tender age is bound to leave its mark.

The Rings of Saturn by W.G. Sebald - 1335 Words

W.G. Sebald’s novel The Rings of Saturn explores the relationship between toleration and persecution through a first person narrative. The novel is preoccupied with loss and the ways we have tried to come to terms with mortality. It is a meditation on the destructive nature of history, the human lives affected, and the restorative power of art. However, his work is not simply a record of these human-induced catastrophes, but also attempts to fashion new representational tools for the purpose of acknowledging and coming to terms with the realities of modern human history. Sebald’s critcism tends to focus on the biographical and psychological backgrounds of the writers he mentions. He draws heavily on the canon of twentieth-century Marxist thought, including works from Theodor Adorno and Max Horkheimer. His complex thesis draws specifically on their work The Dialectic of Enlightenment. The Enlightenment was an intellectual movement that spread through Europe during the ei ghteenth century, which involved a radical change in the way that philosophers and others understood the role of reason. It valued independent thought and promoted reason to a higher status and for some came to replace faith. Intrinsic in Sebald’s work is the idea that the Enlightenment project was programmed by violent distrusts of the non-identical and a coercive desire to eliminate otherness. Specifically, Sebald draws on Horkheimer and Adorno’s critique of civilization articulated in The Dialectic of theShow MoreRelatedThe Rings of Saturn by W.G. Sebald1115 Words   |  4 Pagesphilosopher spoke of an eternal present in which one could move through time and space and interconnect all things. This sentiment is captured by W.G. Sebald’s travelogue The Rings of Saturn where he uses memory to live in the present, past and future and explores his understanding of the world around him, be that world the reality or simply his mental perception. Sebald takes the r eader on an outward journey of Suffolk, England, but as is quickly understood, the journey goes beyond the external present andRead MoreEssay about The Disputed Reign of Dowager Empress Tz’u-hsi3139 Words   |  13 Pageshistorians. It was these early historians who have established the widely accepted perspective that Tz’u-hsi hungered for power, abused it, and retained it using any means necessary. This understanding is echoed today by authors such as W.G. Sebald, author of The Rings of Saturn. There are many differences between the accounts of the Western perspective and that of Sebald’s, but the overall idea of Tz’u-Hsi as a conniving and unworthy Empress is intact between the two. Still, the investigation is not over

Human Resource Dtrategy Formulation - Implementation - and Impact

Question: Discusss about the Human Resource Dtrategy for Formulation, Implementation, and Impact. Answer: Introduction: This report has been constructed to understand the importance of the human resource management for the health care service. There is no doubt about the importance of the human resource management in case of health care services because there are few factors that make this industry challenging. Customer satisfaction, performance of the healthcare staffs are the major player in this sector and thus management of the human resources are highly appreciated in terms of reforming healthcare services. Human resource management considers the development of both the individual employee as well as the functions of organizations. Human resource management improves the measures like communication, cooperation, talent retention and other factors that can be influential for the satisfaction of both the employees and the customers. The objective of this report is to understand the significance of the sustainable human resource management and the approaches that CEO of the First Hospital can adopt to make the human resource management more effective and functional. Background to the topic: The first hospital has taken the initiative to give their service in a location that is geographically isolated; however, the hospital is facing problem regarding the lack of appropriate structure for the human resource management. There is a different provision for the payroll department of the employees; however, the department is supervised by the CEO and its finance manager instead of the human resource management authority. Also, there is another problem; all the functions meant to be handled by the authority concerned to human resource management have been monitored by the middle managers. There are several facts such as recruitment and selection of the employees, development of those selected employees and management of their performances that come under the functions of human resource management (Mondy Martocchio, 2016). All these dimensions are important to obtain a functional and effective organizational structure. On addition, Dias (2016), mentioned there are another impo rtant criteria of the health and safety issues for the employees; if the employees are not satisfied with the working environment, it consequently hampers the production and performance of the employees. As mentioned before, attributes that are typically followed up by the human resource administrative bodies has been now supervised by the middle managers; this matter has become serious as the managers are not concerned about the required activities. From the thinking of CEO version, it can be said that the CEO is satisfied with the present organizational condition of the First Hospital as the CEO thinks that suggestions of the consultants who comes for a single time in a week are sufficient to handle all the issues of an organization. Bratton and Gold (2012), mentioned that if the management of the organization does not provide adequate attention to the employee satisfaction and their requirements incidents like shortage of the staffs, absenteeism and turnover, staff grievances and industrial disruption occurs. All these issues leave a negative impact on the reputation of the organization. For the First Hospital, lack of the appropriate managerial structure to accomplish different activities for the sake of employees' benefits have become the most important issue and thus a recommendation has been given in this report along with the different accounts on the sustainable approach of the human resource management. Recommendation for CEO to improve the HRM operations: As discussed before, First Hospital is facing serious issues regarding the management of their employee relation. There is no such distinct administrative body for the human resource management in the First Hospital; thus, management disturbance has become a common issue for the hospital. Employees are not satisfied with the current provision of the company. Moreover, the present authority is least concerned with the benefits and management of the employees. This kind of negligence has turned into a negative recognition for the company. The CEO of the company has also limited the management activities on the suggestions of a consultant. Here, few recommendations have been given to the CEO so that a transparent idea can be obtained by the CEO of the hospital and required actions can be implemented. Formation of the human resource management authority: It is the utmost concern for the First hospital. The hospital must prioritize formation of a separate body that will look after the issues related to the employees. As mentioned by Lis (2012), human resource management is one of the pillars for a stable foundation of an organization; thus without any proper employee management group First hospital is lacking the standard, effective and functional structure. Rely on the decisions of HRM: As till the present date, CEO and other managers were responsible for taking decisions for the employees and organization, it can get difficult for them to agree with working manner of the human resource management. The first hospital should follow the suggestion of Mello (2014), who said that an organization should trust on the suggestions and working principle of the human resource management because that is the particular concerning entity that has the proper knowledge on how the complicated issues can be maintained. The CEO should give the HRM freedom to take decisions for the good of the employees and organization. Implementation of the recommended approaches: The importance of the recommendation from the human resource management relies on their proper implementation (Riley, 2014). There will be no advantage if the First Hospital is not considering the recommendations of the employee management authority. Evaluation of the recommendations: After the company implements all the recommendations of the HRM, they should follow the major step of evaluation of those steps. This approach will help the CEO to understand whether the approaches were valid or not. In this regard, the CEO can organize a meeting with the human resource manager so that he can understand the aim and gap between the implementation and result. Moreover, having an internal communicative approach in an organization can help to understand the requirement of the employees and most appropriate approach to fulfilling those requirements (Bamberger, Biron Meshoulam, 2014). Key characteristics of sustainable HR capability: As mentioned by Purce (2014), sustainable human resource management is significant because it evaluates the competencies and enhances the knowledge to drive the competitiveness of the business towards the aims and objectives of the company. The main focus of the sustainable management is to obtain an interactive and effective relationship among the employee and the management of the organization. Sustainable human resource management shares three values while dealing with the human capital, i.e. caring, sharing and respect. Sustainable human resource management aims to increase the talent of the employees as well as help them to become ethically concerned. As mentioned by, Storey (2014), sustainability in the human resource management mainly follows two aspects- one is to maintain the conditions that can allow each employee to subject of sustainability, also develop a system that is capable of attracting, motivate, engage and regenerate the employees and their performance. On the oth er hand, the sustainable approach of the human resource department also looks into the matter of cooperating with the management of the organization, shareholders of the company so that the company can work in the interest of both the employees and organization. Sustainable human resource management helps an organization to realize the importance of the social, economic, environmental and human sustainability goals and act accordingly. According to, Alfes et al. (2013), sustainable human resource management can be defined as the managerial approach that involves strategies that can easily fulfill the demands of the present day as well as can also meet the future prospect of an organization. Sustainable human resource management holds a broad view towards the organization such as the understanding the economic, environmental and economic factors. In this regard, the organization also protects the right of the employees and their requirements. The sustainable approach includes several factors like taking the right decision, following the steps that result positively for both the employees and the organization. Sustainable human resource management includes the following measures: Recruitment and selection: Recruitments and selection are the major attributes for an organization. As mentioned by, Ehnert and Harry (2012), if the organization has the perfect employees recruited for their company it will be easy for the management to develop their skills and performance. Development of the employees: Development of the employees involves the provision of the proper training to the employees so that their skill and knowledge can be improved and the better outcome can be yield. If an organization follows the approach of sustainability, they consider the fact that employee gets the appropriate learning that can be helpful during the practical practice. Cooperation with the management: It is another important approach to the sustainable human resource management. As mentioned by, Jackson, Schuler and Jiang (2014), if there is a conflict between the authority of the organization, shareholders, other internal partners of the company and the human resource department of the company, it is not possible to obtain the best outcome for the organization. That is why the sustainable approach is required to eradicate any conflicted situation from the organization; this approach makes an interactive relation between the different partners of the organization so that the continuity of the structure can be maintained. Ethical consideration: Maintenance of the ethical consideration is important to make the practices and activities of the organization viable and practical for the employees. Employees become more concerned about the ethical practices when the organization adopts the approach of human resource management; the employees have clearly described the rules and regulations of the organization so that they can strictly follow those. Moreover, Kramar (2014), mentioned that in a sustainable human resource management, the manager also ensures that there is no loophole from the end of authorities while talking on the ethical concerns; they manager also monitors that the situation is getting complicated for the employees due to the imposition of the regulatory provisions. Sharing, caring and respecting: All these three elements are important measures of the sustainable human resource management. Sharing denotes sharing of the values and opinions of the organization. Employees are given equal importance for in any major decision making processes. Caring involves the maintaining the working atmosphere; health and safety acts are the major consideration in this regard. The employees should be satisfied by the environment in their workplace so that they can give their best efforts to obtain the maximum outcome (Buller McEvoy, 2012). Respecting involves evaluating and treating all the employees equally regardless of their social, cultural and economic background. Employee retention: Sustainability of the human resource management involves the application of the approaches that can result in more engagement of the employees (Delahaye, 2015). The authority of the human resource management helps the organization to implement such aspects that can bring satisfactory results for the employees. Few strategies that an organization follows for the employee retention are reward recognition, monetary compensation, benefits and work-life balance. Conclusion: Therefore, it can be said that this report has attempted all the dimensions required to understand the importance of appropriate structure for the human resource management. Here, issues from the First Hospital have been chosen to make out the conditions that have been affected by the lack of proper structure of the human resource management. Moreover, the hospital has relied on the CEO, finance department and the middle manager to shape the activities related to the employee management. This report has given a recommendation for the CEO of the hospital so that proper guideline can be followed by the organization while conducting the human capitals. Sustainable human resource management has started to gain the attention of the researcher as this new approach has already taken an important place in case of discussion for the human resource management. This report has discussed the importance of the sustainable human resource management approaches that can be proved beneficial for both the employees and the organization. The sustainable approach involves the interest of both the employees and the stakeholders and other partners of the organization. Hence, this report has successfully stood up to the accountability of the sustainable human resource management and its priority in case of successful management of an organization. Reference list: Alfes, K., Shantz, A. D., Truss, C., Soane, E. C. (2013). The link between perceived human resource management practices, engagement and employee behaviour: a moderated mediation model.The international journal of human resource management,24(2), 330-351. Bamberger, P. A., Biron, M., Meshoulam, I. (2014).Human resource strategy: Formulation, implementation, and impact. Routledge. Bratton, J., Gold, J. (2012).Human resource management: theory and practice. Palgrave Macmillan. Buller, P. F., McEvoy, G. M. (2012). Strategy, human resource management and performance: Sharpening line of sight.Human resource management review,22(1), 43-56. Delahaye, B. (2015).Human resource development. Tilde Publishing. Dias, L. (2016). Human resource management.Human Resource Management. Ehnert, I., Harry, W. (2012). Recent developments and future prospects on sustainable human resource management: introduction to the special issue.Management revue, 221-238. Jackson, S. E., Schuler, R. S., Jiang, K. (2014). An aspirational framework for strategic human resource management.The Academy of Management Annals,8(1), 1-56. Kramar, R. (2014). Beyond strategic human resource management: is sustainable human resource management the next approach?.The International Journal of Human Resource Management,25(8), 1069-1089. Lis, B. (2012). The relevance of corporate social responsibility for a sustainable human resource

Accounting for Intermediate Financial Management - myassignmenthelp

Question: Discuss about theAccounting for Intermediate Financial Management. Answer: Debt Valuation Short-term and long-term debts The long-term debts are those that are due for a period exceeding 12 months. In the case of Medical Australia Limited, the long-term debt comprises of trade creditors and payables. The non-current liabilities are the obligations and for the company, it is the long-term debt as they are not due in the present course of time. On the other hand, the short-term debt comprises of the debts that are due in a short course of time that is within a span of 12 months. The current liabilities of the company such as trade creditors, income in advance, payroll liabilities, accruals, etc are the short-term debts. Debt structure The debt structure of the company can be commented with the help of debt-equity ratio. As per standard industrial norms, the debt-equity ratio should not exceed 1. This means that a higher reliance on the debt will affect the performance of the company as more interest payment will be required. As per the computation of the ratio, it can be seen that the debt-equity of the company stands below 0.50 that means it is in synchronization with the industrial standards as the company does not contain a major reliance on debt. Proportion of short-term to long-term debts When it comes to the short-term debts it can be said that the company has utilized more of short-term debts. This implies the company operates with a motto of better operation in the short-term. Such debts are due for payment in a span of 12 months and hence, the company does not have the obligation of the longer term. On the contrary, the long-term debt comprises of the trade payable and provisions that decreased in comparison to the year 2015. This reflects that the company has more involvement in terms of current liabilities in contrast to the long-term liabilities (Medical Australia Limited, 2016). No long-term debt Share Valuation Calculation of Cost of Equity: As other details are not available, we shall calculate Cost of Equity using Earnings Price Ratio Approach an under: Cost of Equity = Current EPS * (1+ growth rate)/ Current Market Price per share = 0.30 cents (1+ 0%) / 0.50 cents = 60 % Growth rate of EPS is negative, hence taken at zero. Revenue, earning, EPS The revenue of the company has been showing increasing trends since past years. This can be seen from the revenue figures in the financial statements of the company. With regard to the changes in revenue earnings, EPS, dividends and growth expectations, following facts can be considered: Revenue - the revenue for the year ending 30th June 2016 have shown an impressive growth as compared to the revenue earnings for the year ending 30th June 2015. The revenue for the year ending 30th June 2016 was $ 12,419,938 as compared to $ 11,510,774 for the year ending 30th June 2015. The growth in revenue earnings has been approximately 8% (Medical Australia Limited, 2016). Earning- There was no foreign exchange gain in the year ending June 2016. Also, the expenses for the year 2016 have increased as compared to the year 2015 which has reduced the net profits by more than 70 %. The major reason behind the decrease in profits is due to increase in employee benefits and increase in the cost of goods sold. Despite the fact, the sale has increased by 8%, but the cost of goods sold has increased by more than 20%. So all of this has reduced the profits or PBIT to $ 3,85,251 (Medical Australia Limited, 2016). EPS has gone down drastically in the year 2016 as compared to the year 2015 because EPS in the year 2016 was (3.24)cents which shows that there has been an overall loss in the business. One of the positive signs are EPS calculated as per the continuing business which stands at 0.30 cents. Although this has also reduced around 70% from the year 2015 where the EPS was 1.04 cents per share. Dividends- Dividend have not been declared during the year, hence no comments can be added for the same. Growth expectations- the business is expected to grow at a minimum of 8% as per the growth trends of the business. However, there has to be a check on two things mainly- the cost of goods sold and employee benefits (Parrino et. al, 2012). P/E Approach P/E ratio depicts the price which an investor can pay to invest in a company for earning the P/E Ratio = Market Price per Share/ Earnings per Share Market Value per share as on 30th June 2016 was 0.05 AUD Earnings per share as on 30th June 2016 was 0.03 AUD or 0.30 cents (Medical Australia Limited, 2016) Hence, P/E Ratio = 0.05/ 0.03 = 1.667 times Constant dividend Growth rate model cannot be calculated here as the company has not declared any dividend during the year (Parrino et. al, 2012). There are various factors that influence a companys stock price such as: Mergers acquisitions Change in demand for the products Reviews and rumors about the company Political changes There are varied reasons for changes in share price. In the P/E Approach model, the reason for the change in share price may be due to the decrease in profits and earnings per share of the company due to which the market prices of the shares may go down. If we talk about the dividend growth model, the share price can be affected in future due to no declaration or low declaration of dividends to the shareholders (Scapens, 2012). Most reasonable The earnings per share as shown in P/E Ratio Approach is the most reasonable value as compared to the market price per share. EPS is 0.30 cents and MPS is 0.50 cents which are quite comparable with each other (Medical Australia Limited, 2016). Valuation of the company stocks Other information that can be used to value the companys stocks may be Dividends(if declared)- dividends are used in the valuation of shares by using models like dividend growth mode, etc hence it is an important information to know if the market prices are to be calculated (Subramanyam Wild, 2014). Financial ratios- such as N.P Ratio, Earning per share, etc. can be compared with other similar company to find out the market valuation. Other factors such as discounted cash flows, P/E Ratio, etc. also help in finding out the market valuation and hence are important information to be preferred. Cost of Capital Calculation of WACC As there are no preference shares, debentures or retained earnings in the company, hence Cost of Capital is equal to the cost of equity only. Hence WACC = 60% Cost of Equity Capital has been calculated using Earnings Price Ratio, where it comes to 60%. Companys tax rate In the calculation of WACC, the tax rate has to be used where there are debentures and preference shares in the company for calculating the cost of debt and cost of preference shares. In the given case, the whole capital structure consists of Equity shares only hence there is no use of tax rate here (Porter Norton, 2014). Difference in the cost of debt and the cost of equity There is no debt in the company in its capital structure. Hence the cost of debt could not be found out. In general, the difference is due to the difference in interest rate and taxes involved. The cost of equity is generally calculated using dividend growth or CAPM or Earning Price Ratio, etc whereas the cost of debt is calculated using interest rate and tax rate (Peirson et. al, 2015). Pros and cons of including current liabilities in the cost of capital calculation No, the current liabilities should not be included in the cost of capital calculation. In the given case there is only equity capital in the capital structure. These are short-term liabilities and not long-term debts occur due to trading activities of the business which may be repaid anytime by selling off the stock or repayment received by the debtors (Porter Norton, 2014). However, payments to equity shareholders, debenture holders or preference shareholders can only be made by selling off a substantial business or shares which may also bring the business to an end or end of a business segment. So current liabilities are short-term which does not affect the cost of equity (Shah, 2013). Major value of the WACC calculation The cost of equity is the major part in the calculation of WACC. As the cost of capital is quite high, the company needs to invest its fund keeping in mind the high cost, so that the company is able to recover its cost of capital and other expenses which should be ideally more than the cost of equity. Information unavailable Capital structure The capital structure of the company consists of only equity share capital. The cost of capital of the company is very high. So, the company should choose other options also in line with the industry and should include debentures and preference shares also in capital structure (Peirson et. al, 2015). Also, the company should somehow restrict its expenses so that there can be some retained earnings for the company. Optimal capital structure An optimal capital structure is one which has the lowest cost of capital. It can be achieved by a balance between the debts and equity. A structure with more debts generally has a lower cost of capital due to tax deduction available. Hence the company should opt for some debt in its structure as well. The circumstances that can cause a change in optimal capital structure can be demerger of the company, the redemption of the heavy amount of debentures, the market in fluctuation, etc (Medical Australia Limited, 2016). Market Analysis Financial performance Going by the financial performance of the company it can be said that Medical Australia Limited performance has fluctuated in the past years. The profitability of the company indicates that the company was not able to operate at full capacity and failed to generate adequate profit. This can be attributed to the market risk that the company faced. Beta is the best measure for the market risk (Kay, 2017). The five-year market beta of Medical Australia is projected at 0.45 that indicates the company is less volatile as compared to others. If the market index changes or varies then that change will have a low change in the price of the stock (Medical Australia Limited, 2016). (Kay, 2017) The beta of MLA indicates that the investors with a portfolio of high beta might view this as irrelevant if they are of the opinion to lessen the exposure to the risk prevalent in the market mostly in times of downturn (Choi Meek, 2011). Overview of the company As per the market capitalization of the company that stands AUD $11.35M ranks MLA in the small-cap category of stocks. Moreover, the company contains higher beta as compared to the larger companies. The operation of the company is in the healthcare sector and tends to have low sensitivity to the shocks of the market (Volcker, 2011). In tune to this, a high beta should be expected for the company but overall a low beta should be present for the healthcare segment. Therefore, it indicates that MLA should be more volatile (Brigham Daves, 2012). During the economic downturn, low demand will lead to re-assessment of the production. The fixed assets of the company constitute only 22.23% of the total assets and the important fact that needs to be noted is that the company does not have a heavy reliance on the costly assets (Medical Australia Limited, 2016). Therefore, the volatility of the company is low and as per the experts, it is a safe investment that is even projected by the beta of the company. Other discussion The important fact that needs to be noted about MLA is that the company bears low fixed cost meaning that when it comes to operating leverage, it is flexible when it is a downturn. Hence, MLA can be tagged as a strong bet when it comes to the economic downturn as the beta is low along with the fixed cost (Wagenhofer, 2014). Both the factors provide a strong cushion to the company and hence, is an important element that can be taken into consideration. Reference: Brigham, E. Daves, P 2012, Intermediate Financial Management , USA: Cengage Learning. Choi, R.D. Meek, G.K 2011, International accounting, Pearson . Kay, L 2017, Before You Buy Medical Australia Limiteds, viewed 13 October 2017 https://simplywall.st/news/2017/10/10/before-you-buy-medical-australia-limiteds-asxmla-you-should-consider-this/ Medical Australia Limited 2016, Medical Australia Limited 2016 annual report and accounts, viewed 13 October 2017 https://www.medaust.com/irm/company/showpage.aspx?CategoryId=190CPID=1565InstanceVersionNumber=0 Parrino, R., Kidwell, D. Bates, T 2012, Fundamentals of corporate finance, Hoboken, NJ: Wiley Peirson, G, Brown, R., Easton, S, Howard, P Pinder, S 2015, Business Finance, 12th ed, North Ryde: McGraw-Hill Australia. Porter, G Norton, C 2014, Financial Accounting: The Impact on Decision Maker, Texas: Cengage Learning Scapens, R.W 2012, Commentary: How important is practice-relevant management accounting research? Qualitative Research in Accounting Management, vol. 9, no.3, pp. 293 295. Shah, P 2013, Financial Accounting, London: Oxford University Press Subramanyam, K Wild, J 2014, Financial Statement Analysis, McGraw Hill Volcker, P 2011, Financial Reform: Unfinished Business, New York Review of Books. Wagenhofer, A 2014, The role of revenue recognition in performance reporting, Oxford University Press