Rites of Passage

When a company goes public and rings the bell at the New York Stock Exchange, it is undergoing a rite of passage, a way of marking ceremoniously its new status. Rites of passage can be understood as the set of activities that accompany one’s change of status or the transition from one state to another one. They may include, among others, the alternations connected with one’s age, a position in a society, or a new social role. In addition, rites of passage can be characterized by a different scope of influence; for example, there are customs popular only within a small community, whereas there are also the ones exercised among a relatively large group of people, such as a nation. Rites of passage accompany different ...