Virginia Woolf s The Hours - 970 Words

Virginia Woolf, portrayed by Nicole Kidman in Stephen Daldry’s The Hours, is an author who experiences depressive symptoms while writing her novel, Mrs. Dalloway (Fox, 2003). In this paper, I will demonstrate that Virginia Woolf meets the DSM-5 diagnostic criteria for a major depressive episode. There are several possible stresses in Woolf’s life that may be contributing to her depression. One is the stress and isolation Woolf feels living in the suburb of Richmond. Although her husband states that they made to move in an attempt to relieve Woolf’s depression, Woolf herself states that if given the choice between Richmond and death, she would choose death. Another possible stressor in Woolf’s life is the task of writing a novel. Yet another stressor could be difficulties in Woolf’s interpersonal relationships. Woolf expresses that â€Å"even crazy people like to be asked [to parties].† Whether Woolf’s interpersonal difficulties contribute to her depression or are a result of it is unclear, however. An additional stressor may be the incestuous relationship Woolf has with her sister. We may not speculate upon a history of abuse in Woolf’s childhood but the nature of Woolf’s relationship with her sister goes against cultur al norms of acceptable sexual behaviour at the time, being both incestuous and homosexual. In addition, although some people may not feel distressed at the existence of extramarital feelings for someone, many do. This abnormal relationship may be distressing toShow MoreRelated The Importance of Time in Virginia Woolfs Mrs. Dalloway Essay1603 Words   |  7 PagesThe Importance of Time in Virginia Woolfs Mrs. Dalloway We live in a consumer society consuming time. We use time to function smoothly but also to channel the direction of our lives. As a college student, I am constantly aware of time. I have a time frame for finishing my college career, as well as constant deadlines to meet. Daily, I divide my hours between my job, my studies, and my friends. In the midst of following external time, I strive for a balance with my internal time. My personalRead MoreEssay on The Hours by Michael Cunningham1456 Words   |  6 PagesIn his novel The Hours, Michael Cunningham creates a dazzling fabric of queer references managing to intertwine the lives of three different women into one smooth narrative. In this essay, I will discuss what makes The Hours queer literature, how the novel has contributed to the queer genre, the cultural significance of the novel, and I will discuss several points made in Jeanette McVicker’s critical article â€Å"Gaps and Absences in The Hours.† My aim, however, i s not to say that Michael Cunningham’sRead MoreParallels Between Mrs Dalloway and The Hours1059 Words   |  5 PagesThe ongoing relationship between the literary movements of modernism and post-modernism is encompassed by the intertextual relationships between Stephen Daldry’s â€Å"The Hours† and Virginia Woolf’s â€Å"Mrs Dalloway†. These relationships communicate the inadequacy of previous writings to convey trauma, cultural crisis and the deep fragmentation within their respective societies. The immediate context of these social dialogues creates a clear division between each text, however the intertextual similaritiesRead MoreEssay on Expectations in the Movie The Hours3010 Words   |  13 PagesExpectations in the Movie The Hours We expect those endowed with a gift - be it artistic, intellectual or circumstantial - to cultivate that gift and use it as a vehicle for excellence in life. In the movie The Hours Virginia Woolf, the 20th Century British author; Laura Brown, a doted-upon 1951 Los Angeles housewife; and Clarissa Vaughan, a 2001 New York editor; struggle with their gifts and the expectations they, and others, have for themselves. All three women are obsessed with findingRead MoreEssay on Death and Rebirth in the Hours1365 Words   |  6 PagesDeath and re-birth in The Hours Adapted from Michael Cunninghams Pulitzer Prize-winning novel by Director Stephen Daldry and playwright David Hare, The Hours was inspired by Virginia Woolfs 1925 novel Mrs. Dalloway. It is no coincidence that The Hours was the working title Woolf had given Mrs. Dalloway as she was writing it. The emotional trauma that this film guides its viewers through becomes evident in the opening prologue. The scene begins with Virginia Woolf composing what would be herRead MoreAnalytical Essay : Dead Man s Path By Chinua Achebe And A Clean, Well Lighted Place1337 Words   |  6 Pagesanalytical it is asking you to analyze the literature. I will be taking a deeper look into three different short stories. Two of my favorite short stories this semester were Dead Man s Path† by Chinua Achebe and â€Å"A Clean, Well-Lighted Place† By Ernest Hemingway. My third choice was a short story by Viginia Woolf called â€Å"A Haunted House.† â€Å"Dead Man’s Path† was written by a man named Chinua Achebe who was a devout christian. He was very talented and began learning English by the age of eight. WhileRead More Linear Time Structure of the Western World1448 Words   |  6 Pagestime-monitoring devices. In Virginia Woolf’s Mrs. Dalloway, for example, the day is structured by the tolling of Big Ben. Woolf explains that â€Å"the sound of Big Ben striking the half-hour struck out between them with extraordinary vigour, as if a young man, strong, indifferent, inconsiderate, were swinging dumb-bells this way and that† (Woolf 48). Later, she says that â€Å"it was precisely twelve o’clock; twelve by Big Ben; whose stroke was wafted over the northern part of London† (Woolf 94). There is a similarRead MoreCritical Analysis Paper for a Room of Ones Own1193 Words   |  5 PagesCritical Essay, A Room of Ones Own English 374: Austen, Bronte, and Woolf Kendra Plowden For centuries women have been forced into a role which denied them equal education opportunities. Virginia Woolfe expresses her frustration on why women were denied privacy in her novel , A Room of Ones Own. Where she compare the traditional lifestyle tailored made for the opposite sex and the sacrafices that came with it. Wendy Gen feels, Though women through the centuries have not always enjoyed roomsRead MoreIntertextuality in the Hours4441 Words   |  18 PagesIn The Hours Intertextuality is a term first introduced by French semiotician Julia Kristeva in the late sixties. She says that a literary work is not simply the product of a single author, but of its relationship to other texts and to the strucutures of language itself. Any text, she argues, is constructed of a mosaic of quotations; any text is the absorption and transformation of another. ( www.litencyclopedia.com, Kristeva: Word, Dialogue, and Novel, 1966). 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Grocery Store Database - 2639 Words

Introduction Florida Food Mart is a medium size grocery store located in Tampa, Florida. The store and management offices are housed in a 20,000 square foot facility on the North West side of Tampa. There are approximately 45 employees consisting of 20 Cashiers, 10 Stock Clerks, 8 Bagging Associates, 3 Shipping and Receiving Clerks, 3 Store Managers, 1 Technician, 2 Purchasing Agents, 1 Accountant, 1 Marketing Director, 1 Vice President, and 1 President. The Database Team has been assigned the task of upgrading Florida Food Marts outdated inventory processing system by designing and implementing a state of the art relational database management system utilizing MS Access integrated with Florida Food Marts present point-of-sale (POS)†¦show more content†¦This system will facilitate increases in productivity that will result in a substantial improvement to the companys bottom line. Business Rules The Database Team has established some business rules as it pertains to the grocery inventory system. The following list is a comprehensive list of the rules:  · An employee can only be attached to one department  · A purchase order (PO) must be authorized by a designated employee  · A vendor can have an account, even though they may not have supplied the company in some time  · PO may only have one shipping method  · A PO can only have one invoice or shipping/receiving ticket  · AShow MoreRelatedElectronic Product Code ( Upc )1044 Words   |  5 Pageseverything that customers buy from shopping centers has a Universal Product Code (UPC) printed on it. RFID tags are improved version of the UPC bar code as they have read and write capabilities, indicating that they could be read by RFID scanners and also store information. Each product within the shopping center will be labeled with a unique Electronic Product Code (EPC) that will take the place of UPC bar code. 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Review of Current Site The current site has some basic information that a client or prespective client would want to know; the store hours, location of the stores, departments within the store, and varity of the items and goods located in the stores. The site uses few graphics and plain text, each page and sub pages are all uniformly the same and built in HTML. There is no CSS detected so each individual page will have to have its ownRead More Biometric Payment Essays916 Words   |  4 Pagesfingerprint coming to a store near you. Buying groceries with a touch of a finger is already being marketed and used in many stores. Finger scanning will soon be ubiquitous, offering speed and convenience to consumers. It will help protect and prevent identity theft. Kids growing up now cannot imagine you needing a cord to use a telephone. 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Since opening in the 1900’s, Aldi has opened stores in over 18 countries and continues to grow their multinational enterprise (Aldi, 2017). There are several reasons why Aldi chooses to have a global presence which includes accessing larger markets and achieving economies of scale. To adapt to the culture in different countries, they vary the products sold in each store. Most importantlyRead MoreLow Income Residents : The United States Department Of Agriculture1420 Words   |  6 Pagesresidents of the affected area. Previous research helped develop methods that were used in this study. Studies include the New York City Department of Planning’s â€Å"Going to the Market†: New York City’s grocery store and supermarket storage†, Junfeng Jiao’s dissertation, â€Å"Built environments, grocery shopping, travel behavior and food deserts. 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This new technology of HelloFresh provides more business op portunities to expand their market shares. 2) Amazon A competitive fighter has entered the meal kit octagonRead MoreTesco vs. Webvan: Grocery Companies Leveraging the Internet1178 Words   |  5 Pages1.0 Introduction The grocery industry is a huge, fragmented and enormously competitive environment and there are currently several examples of grocery companies that are making effective use of the internet as a link with customers (Delaney-Klinger, 2003). In particular, Tesco currently have internet channels for selling groceries that are profitable (Hall, 2001; Koller, 2001). During the late 1990’s many new companies were set up to utilise the perceived advantages from using the internetRead MoreWhat Should I Have For Dinner?758 Words   |  4 Pages a photo of the contents of a pantry will become a database of currently available food. Similarly, users input recipes in the same manner. The user is also able to add what is called a Food Profile to their own contact information. The information [] in this profile includes food preferences, food allergies, and diet objectives. []. Intelligently collected data does not require active user input. EAT pulls data from selected grocery stores including sales and coupons. Further, EAT mines for

Impact of Product Diversity on Consumer Buying Behavior A Case Study

Question: Discuss about the Impact of Product Diversity on Consumer Buying Behaviorfor aCase Study of Retail Food Group Limited Answer: Introduction The purpose of this study is to identify the impact of the product diversity on consumers buying behavior in food retain industry. In this study, the selected organization is Retail Food Group Limited. Product diversity refers to the process of expanding product range for increasing business profitability (Coma et al., 2016). In case of the food industry, the organizations are providing different range of food products for influencing different cultural people. On the other hand, a vast product range influences buying behavior of the consumers by increasing consumers spending. In this study, a systematical process will be followed for getting accurate research result. Background of the Study Product diversification refers to the process of increasing product range, which increases business opportunity of an organization. This study will investigate regarding the impact of product diversity on consumers behavior. Product diversification is a globally acknowledge approach, which helps organizations to increase overall spending of consumer (Chen et al., 2016). On the other hand, consumers buying behavior refers to the consumers preferences, attitude and intentions while making the purchase decision. In recent days, different organizations have adopted product diversification strategy for maintaining sustainable business (Zhang et al., 2016). In this process, an organization can maintain sustainable profitability from one product, even if other products reach to the mature stage of product life cycle. This study will further investigate how availability of different product influences the consumers to increase their purchase unit. Background of the Organization Retail Food Group is a food retail chain of Australian market established in 1989. The company provides franchise opportunity to the Australian local businesses for increasing product availability in Australian market. In order to influence consumers buying behavior, the organization provides a vast range of product to the consumers. This strategy helps the organization to attract franchises along with consumers in Australian market. Rationale of the Study What is the Issue? Diversified product helps an organization to attract consumers towards the brand. On the other hand, it is highly important to establish the brand image of the organization for improving perceived value of the consumers (Kaushalya Fernando, 2015). However, offering a vast range of products prevents the organizations to establish high brand value, as the consumers may find difficulties to understand the offerings under the brand. Therefore, it can affect the consumers buying behavior negatively (Pandey Verma, 2015). Therefore, it is highly important to understand the way product diversity affects consumers buying behavior. Why is it an Issue? Consumers are sometimes influenced by the brand image while making the purchase decision. However, a diverse product range prevents the consumers to recall the brand name while making the purchase decision (Kwak, Jaju Zinkhan, 2015). In order to establish strong brand image of diversified product range, it is important to implement umbrella-branding strategy. In case if an organization fails to conduct efficient branding strategy, then it will be difficult for the company to influence buying behavior of coinsumers. What is the Issue Now? Now days, product diversification is a globally acknowledge strategy in which organizations are offering vast range of products in same category, which increase the product line (Morrison, 2015). In this manner, consumers spending can be increased in an effective manner. In food retail sector, it also increases consumers spending time as well as the consumers spending. However, a vast range of products prevents the organizations from establishing strong brand image. What could be the research shade light? This study will investigate the importance of product diversification and the issues faced by the Retail Food Group. It will help the company to influence the consumers buying behavior more efficiently with the help of efficient branding strategy (Kumar Kapoor, 2015). The findings of this study will helps the organization to improve the product strategy even better. Aim of the Research The aim of the research is to investigate the impact of product diversification on consumers buying behavior. Research Objectives The objectives of the research are as follows: To investigate the importance of product diversity in food retail industry To critically evaluate the impact of product diversification on consumers buying behavior To identify the issues faced by Retail Food Group while implementing product diversification for influencing consumers buying behavior To provide suitable recommendation to the Retail Food Group for reducing negative impact of product diversification Research Questions The research questions are as follows: What is the importance of product diversity in food retail industry? What is the impact if product diversity on consumers buying behavior? What are the issues faced by Retail Food Group while implementing product diversification strategy for influencing consumers buying behavior? What should be the possible procedures for improving product diversification strategy of Retail Food Group? Research Hypotheses H0: Product diversification does not have any impact on consumers buying behavior H1: Product diversification does have huge impact on consumers buying behavior Structure of the Dissertation In order to obtain accurate research result, appropriate research structure will be followed in this study. Following is the structure of the research study in which the researcher will conduct the research. Introduction In this section, the introductory part of the study will be provided. Moreover, this section of the study will consist of the research objectives, questions and hypotheses along with the rationale of the study. Literature review This section of this study will consist of a vast literature regarding product diversity and its impact on the consumers buying behavior. Moreover, different models and theories will be evaluated in this section. Research methodology This section of this study will consist of the chosen research methods. The researcher will also provide justifications for the chosen research methods. Implementing appropriate research methods will help the researcher to obtain accurate research result. Findings and Analysis In this section, the researcher will accumulate primary information regarding the research topic. Moreover, the researcher will evaluate the gathered data with efficient analytical tools such as statistical tools and focus group analysis tool. Conclusion and Recommendations In this section, the researcher will provide conclusion based on the research findings. Additionally, the researcher will provide suitable recommendations to the organization for improving product diversification strategy of Retail Food Group. Table 1: Structure of the dissertation Literature Review Introduction Consumers buying behavior refers to the attitude, perception and preference of the consumers. On the other hand, product diversification is a strategy, which allows the consumers to choose the required product as per needs and requirements. According to the previous research is consumers buying behavior, different researchers have shown that buying behavior is a factor, which is influenced by the purchasing decision process (Phan Vu, 2015). On the other hand, previous studies emphasize that it is not possible to measure consumers buying behavior accurately. Organizations just perceive the buying behavior for predicting the purchase decision of the consumers. On the other hand, a diversified product range helps the organizations to attract consumers from competitive market. Concept of Product Diversification Product diversification is a strategy of increasing range of products in which an organization provides different types of products in same category. In case of food retail industry, organizations provide different food products rather than offering same product. Now days, this approach is adopted by the organizations for maintaining business sustainability with diverse product range (Farooq et al., 2015). In this approach, if a particular product fails to attract consumers, then other products will help the organization to maintain sales figure. Concept of Consumers Buying Behavior Consumers buying behavior refers to the attitude and perception of the consumers while making purchase decision. In order to determine the required product, consumers follow a systematic process in which the first step is identification of requirements. There are different factors that influence behavior of consumers (Kim, 2015). The most important factor, which influences behavior of the consumers, is cultural background of the consumers. The psychological characteristic of consumers is another factor in which consumers take the purchase decision based on the product value. Process of Consumers Purchase Decision The changing trend of business environment influences the consumers to take the ultimate purchase decision in an elongated manner. In this process, consumers follow five steps such as need recognition, information search, and alternative evaluation, purchase decision, post-purchase behavior (Chen et al., 2016). Following is the process undertaken by the consumers for making the purchase decision. Need Recognition: In this step, consumers identify their requirement in terms of product or service. This step is one of the most important phases of decision decision-making process. If there is no need, then there will be no purchase (Zhang et al., 2016). In case of food retail industry, the consumers first identify the type of food based on their needs and requirements. Sometimes, the consumers choose the food type depending on their cultural aspects. Information search: In this step, consumers gather product information in order to obtain the quality product (Kaushalya Fernando, 2015). In other word, consumers seek for additional information in order to resolve their problem. For example, consumers can seek information regarding different kinds of product. Alternative evaluation: This phase of decision-making process helps the consumers to evaluate the identified product with other brands. This process helps the consumers to obtain quality product at low price (Pandey Verma, 2015). This step further helps the consumers to increase product value and therefore, this is the most important phase in which organizations try to influence the consumers. Purchase decision: After going through the above stages, consumers take the final purchase decision of availing a particular product (Kwak, Jaju Zinkhan, 2015). In case of food sector, consumers have the ability to switch brand frequently due to high bargain power of consumers. Post-purchase behavior: This phase of decision-making process depends on the satisfaction level of the consumers after availing a particular product (Morrison, 2015). Therefore, it can be said that post-purchase behavior tends the consumers to decide regarding whether they will continue with the same brand or not. Cultural Theory of Buying Behavior Culture of an individual refers to the faith, behavior and perspectives, which influences the buying behavior. For example, an individual can be driven by the brand image of an organization. On the other hand, an individual may select a product depending on the quality and price (Phan Vu, 2015). Moreover, social class, income level, occupation and education of an individual are the parameters, which determine buying behavior of the consumers. According to the previous researches, food retail organizations identify the cultural aspects of the consumers for identifying the purchase decision-making process (Farooq et al., 2015). If product diversification is being considered, then it can be said that consumers from different cultural aspects prefer different products and therefore, with diversified product range organizations will be able to influence a vast range of consumers buying behavior (Banerjee Banerjee, 2015). Summary The overall literature review shows that food retail organizations of Australian market have adopted product diversification in order to satisfy different cultural groups. This section of the study emphasize that product diversification is the most effective approach, which helps organizations to reduce certain risk factors caused market forces. Research Methodology Introduction This section of the study determines the research methods applied in this research. Appropriate study method will help the researcher to get accurate research outcome. This research will be based on primary research method (Melling, 2015). It will help the researcher to gather relevant information from the consumers and management of Retail Food Group Limited. Research Outline In order to conduct this research, the researcher will select appropriate research methods such as research philosophy, research approach, research purpose and research strategy. As this research is based on primary data collection process, the researcher will select positivism research philosophy, deductive research approach, and descriptive research purpose and interview and survey strategy (Flick, 2015). These research tools will help the researcher to reduce negative impact of the time and budget constraint in an effective manner. Moreover, the researcher will select 50 consumers and 4 managers of Retail Food Limited in order to conduct the data collection process. Data Collection Methods There are two types of data collection process such as primary data collection and secondary data collection In case of primary data collection process, interview and survey are the data collection tools (Mansell, 2015). On the other hand, in secondary data collection process, researchers gather relevant information from authentic journals, articles and websites. In this study, the researcher will conduct primary data collection process in which the researcher will adopt qualitative and quantitative approach (Youssef Youssef, 2016). Data Analysis In this study, the researcher will implement statistical analysis tool for analyzing the primary data. On the other hand, the researcher will implement focus group analysis for analyzing the qualitative data (Ardrey et al., 2016). The researcher will also implement case study analysis for conducting the secondary data collection process; this process will help the researcher to conduct an efficient literature review. Gantt Chart Activity 1st week 2nd to 3rd week 4th to 5th week 6th to 8th week 9th to 12th week 13th to 18th week Introduction Literature Review Research Methods Data Collection and Findings Conclusion and Recommendations Table 2: Time Table Conclusion and Future work Conclusion After conducting the literature review, it can be concluded that product diversity influenced the purchase decision-making process of the consumers in an effective manner. This research will identify the extent in which diversified product range influences consumers buying behavior. The data collection process chosen for this study is appropriate for this research topic. In order to achieve the research objective, the researcher will create qualitative and quantitative questions based on the research questions. Future Work This study can be more effective by improving the literature review. In this section, a vast range of previous research needs to be evaluated in order to gather efficient knowledge regarding the research topic. Apart from that, it is highly important to comply with the ethical constraints for gathering non-manipulative information from the respondents. Additionally, the research can be improved with efficient data analytical tools. Reference list Ardrey, J., Desmond, N., Tolhurst, R. Mortimer, K., (2016). The Cooking and Pneumonia Study (CAPS) in Malawi: A Nested Pilot of Photovoice Participatory Research Methodology.PloS one,11(6), p.e0156500 Banerjee, T., Banerjee, A. (2015).Evaluating the Purchase Process of Household Appliances Accounting for Consumers Attitudes towards Eco-Friendly and Sustainable Consumption Behavior(No. WP 2015-06-01). Indian Institute of Management Ahmedabad, Research and Publication Department Chen, H., Li, X., Zeng, S., Ma, H., Lin, H. (2016). Does state capitalism matter in firm internationalization? Pace, rhythm, location choice, and product diversity.Management Decision,54(6) Coma, M., Vilchez-Vargas, R., Roume, H., Jauregui, R., Pieper, D., Rabaey, K. (2016). Product diversity linked to substrate usage in chain elongation by mixed culture fermentation.Environmental science technology Farooq, Q., Shafique, N., Khurshid, M. M., Ahmad, N. (2015). Impact of comic factor in tv ads on buying behavior of university students.International Letters of Social and Humanistic Sciences,8(1), 12-20 Flick, U. (2015).Introducing research methodology: A beginner's guide to doing a research project. Sage Kaushalya, A. M., Fernando, P. I. N. (2015). Brand Image Impact on Consumers Buying Behavior: Special Reference to Fermented Dairy Products Kim, S. W. (2015). The impact of customer buying behavior on the optimal allocation decisions.International Journal of Production Economics,163, 71-88 Kumar, N., Kapoor, S. (2015). Does the consumers buying behavior differ for vegetarian and non-vegetarian food products? Evidences from an emerging market.British Food Journal,117(8), 1998-2016 Kwak, H., Jaju, A., Zinkhan, G. M. (2015). Astrology: Its influence on consumers buying patterns and consumers evaluations of products and services. InProceedings of the 2000 Academy of Marketing Science (AMS) Annual Conference(pp. 94-98). Springer International Publishing Mansell, W. (2015). Classification of psychopathology and unifying theory: The ingredients of a Darwinian paradigm shift in research methodology Melling, R. (2015). Single case research methodology: applications in Special Education and Behavioral Sciences.Educational Psychology in Practice,31(1), 106-107 Morrison, M. M. (2015). Compulsive Buying Behavior: Terminology and an Appucation to New Media such as the Internet. InProceedings of the 1998 Academy of Marketing Science (AMS) Annual Conference(pp. 344-348). Springer International Publishing Pandey, M., Verma, R. (2015). Factors Influencing the Buying Behavior of Consumers Towards Organized Retail Stores in Jalandhar, Punjab.IUP Journal of Marketing Management,14(1), 51 Phan, T. T. H., Vu, P. A. (2015). The Impact of Marketing Mix Elements on Food Buying Behavior: A Study of Supermarket Consumers in Vietnam.International Journal of Business and Management,10(10), 206 Youssef, E. M., Youssef, M. A. (2016). A critical investigation into cross-cultural research methodology: some insights and literature review.International Journal of Business Excellence,9(4), 441-462 Zhang, J., Bowling, J. J., Smithson, D., Clark, J., Jacob, M. R., Khan, S. I., ... Zaki, M. A. (2016). Diversity-oriented natural product platform identifies plant constituents targeting Plasmodium falciparum.Malaria journal,15(1), 1

Critical Accounting Research Neoliberalism -Myassignmenthelp.Com

Question: Discuss About The Critical Accounting Research Neoliberalism? Answer: Introduction The Global Financial crisis, began in 2007, when there was a credit crunch. There was a loss of confidence in the US investors, which caused liquidity crisis for the economy. The crisis had worsened which caused the market to crash and led to increase in the overall volatility. The consumer market was hit very badly because of the same and it led to wide spread resentment on what lied ahead for the people. The subprime crisis also affected the overall consumers in the area, as many people had taken housing loans and now suffered from the adversity of paying the huge interest. Large number of defaulters were there and this affected the overall growth of the banks and they had a liquidity crisis in their hand. It is said that this housing collapse had led to a global crisis and had affected the overall growth and development in the economy. It led to a situation where every aspect of the financial ladder suffered from a financial crisis. It was said that there must be an encouragement among the people all over the world to not give importance to lending and focus more on investment in the form of wealth generation and development. Apart from the subprime mortgage crisis there were many other events of financial crisis that triggered this global crisis. A brief description of the same is given below under. Analysis The subprime mortgage crisis formed the basis that led to a full-blown crisis of the banking industry that was triggered with the fall of the Lehman Brothers. The banks indulged in excessive risk taking and that had affected the overall monetary and fiscal policies and had led to the downfall of the banks. This crisis was followed by a world level crisis known as the great depression, where there was less revenue and more losses. Some other examples of such other financial crisis are- The 2000s energy crisis, where high prices of the crude oil in combination with the economic weakness had triggered huge amount of contraction in 2007-2008. This was due of the increase in the prices of the oil due to natural disasters and other changes. It thus affected the overall profitability of the economy and caused prices to rise, and in turn affected the overall growth. This is known as the energy crisis of 2000, and led to huge amount of speculation in the overall investment and trading of oil supplies. The United States Housing Bubble is one of the real estate bubble that was affecting the other half of US. This was since the overall housing prices was increasing in 2006, but later it declined and then it hit an all-time low. The collapse of the housing bubble had direct effect not only on the prices of the house, but also on the overall mortgage rates, housing rates, stock exchange where shares are traded and the overall general profitability of the nation. The housing bubbles is a scenario that might occur in the local and the global real estate fronts and the need of the situation is to curb this inflation and rise in price to make sure that lending is done at appropriate rates. It is not only good for the consumers but for the overall economy also as it helps in keeping the overall rates under control. European Debt crisis- In European Union since the end of 2009, there has been a debt crisis prevalent known as the European debt crisis. It occurred when the members of the European crisis where unable to repay their debts and were not able to refinance their overall government debts and were not able to bail out over indebted banks under the national supervision. There were several reasons that were responsible for such kind of crisis and the overall return on the economy and the growth of the same was also affected because of such situations. These reasons included, easy credit policies, high risk lending and borrowing practices, international trade imbalances, the other financial crisis that occurred previously. It also affected the labor market and led to an increase in the overall rate of unemployment. It was also blamed for subdued economic growth in Europe and the group countries(Guragai, et al., 2017). Russian Financial Crisis- Russian financial crisis occurred in 2014-2017, and began in the latter half of 2014. It led to a decline in the Russian economy and led to an overall decrease in the confidence of the public in the economy. There were two major reasons that were responsible for the same, one the fall in the overall prices of the crude oil in 2014(Han, et al., 2017). The crude oil is an important product that the country exports to other countries and hence it had to suffer huge losses in this situation. The second being the international sanction that was imposed on Russia, because of its merger with some related parties. This had huge effect on the Russian stock exchange also and had led to a decrease in the overall stock prices of the country. This was one of the major crisis that was noticed since the advent of the great depression. These are few examples of the financial crisis that had occurred in recent times and have affected the overall growth and development of the economy and had affected the consumers also. There are many reasons that are there behind such crisis(Alexander, 2016). Few of many such reasons were responsible for the Great Financial crisis that was triggered with the overall loss of liquidity of the baking sector that occurred due to the fall of the Laymen brothers. Few of these reasons are explained hereunder- The major reason behind this was the deregulation in the financial sector, that had led to banks approving high mortgage rates. It promoted banks to indulge in lending of the hedge funds, when this value of the banks declined, they stopped lending to each other. This in turn led to an increase in the overall liquidity position of the bank and made it more prone to the changes in the economy(Svahn, et al., 2017). The banks were creating too much money in that period and they used this money to push up the prices for the house loans and mortgages. It also led to an increase in the speculation activities in the housing sector. Eventually this triggered a situation in which the debts became unpayable, because of which the banks were having too much defaulters and they were not able to get in their money back. This led to a situation where there was low flow of money at increased cost and this led to great recession(Crosby Henneberry, 2016). The overall monetary and regulatory policies of the banks and other financial institutions was not at par, and government was not able to regulate the overall movement of the economy in sync with the same. Thus, that was also one of the major reasons for the downfall of the economy and affected the overall growth. Thus, the need of the hour was that these policies must be regulated properly and changes must take places, to make it stricter for the banks and other regulatory bodies so that they are not able to initiate such a situation of financial crisis in the future(Anon., 2017). The banks were majorly responsible for this situation, because once the crisis occurred, the banks refused to lend any more money. There were so many defaulters that it affected the overall credit standing for the bank and affected their overall liquidity position immensely. Hence, after a point the banks refused to pay any amount of money and this led to a situation where the economy crumbled(Chiapello, 2017). In a situation where people are repaying loans faster than they are banks are giving out new loans, causes a position where the value of debts in real terms increases and this eventually leads to a debt spiral for the economy. Even the people and businesses that are not part of this whole scenario suffer because of this. There was less flow of resources, which in turn effected the flow of savings and investments and this in turn led to a situation known as the Great recession(Vieira, et al., 2017). Future after GFC Since the great recession era and the end of the same, there have been many changes that have occurred that have helped in making the financial system more strong and stable. But given to the fact that the overall sector is very fragile and there are chances that these situations might crop up in the future. But in todays time, there is an existence of shareholders capital, which act as a cushion in preventing such situations and making the banks less prone to similar crisis. It cannot be said that similar situation will crop up in the future or not, but what can be stated is that if such situation occurs, there are remedies with the government to fight with them and ensure the overall stability of the economy. Given to the fact that the overall economic and monetary policies are very strong now(White, et al., 2018). Effect of the Great Financial Crisis The overall effect of the problem was so severe that the worlds largest financial institution had collapsed. Even the wealthiest nations suffered due to the same, the government ended up spending huge amount of money on the bailouts. As per reports,33% of the total companies of the world were wiped off due to this crisis. Countries like UK and other European countries had spent more than $2 trillion, on rescues and bailout packages. Even Australia was greatly affected due to the same and suffered from huge downfall of the credit standing of the banks and the overall economy(Lane Ferretti, 2017). It led to a situation of recession world-wide, where the value of money was decreasing and the overall debt was increasing in real terms, this affected the liquidity position of both the people lending and taking the money. It took many years for the nations to get over such a situation and initiate proper changes(Burke Clark, 2016). Reforms eventuated after the Great Financial Crisis There were several changes that took place, after the crisis and were brought in to make the financial system of the economy strong and more secure. Given the reasons that led to this crisis, it was important that banks had stronger monetary and fiscal policies and the overall lending was regulated, so that the value of debt in no terms could become more high(Cayon, et al., 2017). In December 2010, European regulators announced tough restrictions on the bonuses that banks can pay their staff, this was done to regulate the unreasonable payment that was done to the employees. The banks were also asked to pay an annual tax on their balance sheet, the main idea behind all this was that banks in general must contribute to the fair rise and development of the economy from this situation of financial crisis(Abbott Kantor, 2017). An independent commission was set up on banking, to regulate the overall functioning of the banks and to look over the banking policies. There has been many change s in the financial sector of the UK economy, to make the credit position better overall. The main aim of the government was to protect the investors, the people who are investing there money, there must be equal and effective flow of revenue in various sectors. The banks should not be in a dominant position to take undue advantage of the same and destroy the overall credibility and credit standing of the economy(Sweeting, 2017). Conclusion On the basis of the above analysis it can be said that banks around the world, must be regulated as they are prime source of rotation of income and there must be proper policies so that such situation of financial crisis does not crop up in the future. References Abbott, M. Kantor, A., 2017. Fair Value Measurement and Mandated Accounting Changes: The Case of the Victorian Rail Track Corporation. Australian accounting Review. Alexander, F., 2016. The Changing Face of Accountability. The Journal of Higher Education, 71(4), pp. 411-431. Anon., 2017. Explaining auditors propensity to issue going-concern opinions in Australia after the global financial crisis. Accunting and Finance, pp. Carson,E;Fargher,N;Zhang,Y;. Burke, J. Clark, C., 2016. 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