The Global Financial Crisis Essay - 3569 Words

1. Introduction 1.1. Background The Financial crisis was triggered in 2006 when US housing market began to crumble as the housing price reached their highest point after years of speculative price increase; many house owners defaulted on their loans, particularly subprime mortgagers (Archarya et al., 2009). Starting in mid-2007, the outburst of US housing bubble in the subprime mortgage leads to the global financial crisis that has been often so called ‘Great Recession’ (Verick and Islam, 2010). Archarya et al. (2009) states that it is widely agreed that the fundamental cause of this global financial crisis was the credit boom and the housing bubble. While Poole (2010) argued that it is a mistake to only take subprime mortgage issue†¦show more content†¦2. Impact of Recession on Customer Behaviour The financial crisis and economic recession of 2008 unevenly affected economic aspect of countries, industries and extended into social aspects, which include how the public responded to the recessionary circumstances surrounding it (Gangl et al., 2012). This chapter focus to understand how the current economic depression shapes the customers behaviour. Earlier research by Desvaux et al. (2009) found that the recession had led to lower consumer confidence, lower income due to high unemployment rate, higher living cost because of inflation, lower wealth due to shrinking in household wealth and restricted consumer credit as bank cut lending to consumer. The above five factors have shaped consumer behaviour in responding to the recession as follows (Desvaux et al., 2009): †¢ Control spending: this is the most common reaction during recession; people would have their own budgets to reduce their overall spending such as eating out and travel plans. †¢ Replace only when needed: consumers were willing to delay their new purchases of cars or electronics and extend the lifetime of the current assets. †¢ Shop smarter: people have begun to look out for promotions and special bargains, or use internet to find better or lower price. In addition to the above behaviours in responding to theShow MoreRelatedThe Global Financial Crisis And The Crisis Essay1244 Words   |  5 PagesIntroduction The Global Financial Crisis, also known as The Great Recession, broke out in the United States of America in the middle of 2007 and continued on until 2008. There were many factors that contributed to the cause of The Global Financial Crisis and many effects that emerged, because the impact it had on the financial system. The Global Financial Crisis started because of house market crash in 2007. There were many factors that contributed to the housing market crash in 2007. These factorsRead MoreFinancial Crisis : A Global Crisis Essay1729 Words   |  7 PagesOverview: The 2008 financial crisis is notably one of the worst financial disasters in American history. It began with a large financial bubble, in which many investment, real estate, and insurance companies made millions. When the bubble burst, stock markets fell, these companies collapsed, and economies of supposedly strong nations were brought to their knees. Not only did the financial crisis severely affect the economy of the United States, but the international markets as well. At the timeRead MoreGlobal Financial Crisis : Crisis1213 Words   |  5 PagesGlobal Financial Crisis In July of 2007, the global financial crisis was initiated from the property market in the United States. The crisis was criticized regarding to a security called sub-prime mortgages. Sub-prime mortgage is an idea created by the financial institutions to gain more profit by easily giving loans to lower income borrowers or low credit rating borrowers. When the borrowers default the loan, the bank then have the right to take away the ownership of the property and sell it forRead MoreThe Global Financial Crisis642 Words   |  3 PagesThe Global Financial Crisis has had a huge impact on the global economy. The American housing market collapses, the house price drops significantly and the bank is losing lots of money, however, people are not pursued in court for money or declared bankruptcy. People tend to spend less on the due to their houses worth less than the bank has loaned originally and some of them are still committed to clearing off their mortgages. This causes less activity in housing market and sales market, hence moreRead MoreThe Global Financial Crisis1580 Words   |  7 PagesIn the following essay, I will briefly summarize some of the main events leading up to the global financial crisis. Following this, I will discuss the effect this had on the banks and ergo the credit supply, then examine how this contributed to t he corporate failure. I will also pay some attention to how the market imperfection can affect firms real decisions. Finally, I will sum up the main points of the essay. The banking panic of the fall of 2008 set economies around the world into a severeRead MoreGlobal Financial Crisis1408 Words   |  6 Pagesis explained the occurrence of the global financial crisis in 2008. It has shown that lots of companies have bankrupted and millions of people lose their jobs and homes around the world. Such as United States, Iceland, England, France, Singapore and China. There is a sentence in this film has make me impressed, which is â€Å" the poorest always pay the most.† The director has separated this film into five parts, which are How we get there, The Bubbles, The Crisis, Accountability and Where we are nowRead MoreThe Global Financial Crisis711 Words   |  3 PagesThere is no smoke without fire. The global financial crisis caused from hundreds of thousands of decisions and changes from different areas. The America government, Wall Street and the Rating Agencies put on this world-shaking show together. And to be more specific, the top officials in politics and finance pull strings behind the senses. Applying Mintzberg’s ten management roles model as a frame, the America government, Wall Street and the Rating Agencies are correspondingly divided into three categoriesRead MoreThe Global Financial Crisis1474 Words   |  6 PagesThe global financial crisis has raised many concerns for the need to restructure the approach of risk and regulation in the financial sector (KPMG 2011). Figure. 4 has shown the structures of Basel III. It aims to increase the capital and liquidity of banks and therefore maintaining the stability in banking sector with full effect in 2019 (Banks For International Settlements 2011). EUROPE - Preparedness On 26 June of 2013, Capital requirement regulation (CRR) and directive(CRD) has been adoptedRead MoreGlobal Financial Crisis 1067 Words   |  5 PagesThe best evidence so far for the existence of an American empire, despite denials to the contrary, is the Global Financial Crisis (GFC). The persistent removal of restrictions and oversights on the domestic financial system of the US, combined with the decisions of individual firms, other governments and foreign financial organisations, culminated in the singe largest depreciation of assets and currency valuations in history, surpassing even the Great Depression in its extents. The United StatesRead MoreThe Global Financial Crisis2317 Words   |  10 PagesDuring the run-up to the Global Financial Crisis (GFC) 2008 there were numerous contributing factors. One can observe the start of the crisis as a cascading timeline starting possibly decades earlier with the change to a deregulatory culture. The prevailing political environment in the lead up to the financial crisis was one of de-regulation with a focus to economic expansion. This political imperative towards deregulation started under President Reagan in the US and culminated at the turn of the

Essay on Capital Punishment - 2824 Words

In my opinion the Retributivist approach to Capital Punishment is the more appropriate view. The Retributivist believes that evil done with a vengeance should be repaid with punishment in-kind. In order to protect society and prevent crime, the death penalty has to be the most severe form of punishment with the biggest impact on society. Persons who commit murder should suffer and be punished for their inexcusable action(s). The principles of retributivism suggest that a convicted murderer should be executed because they â€Å"deserve† and â€Å"have earned† the death sentence. The right of retaliation can only be made equal by balancing of the crime with the punishment even if it is the death penalty. Those opposed to the death penalty argue that†¦show more content†¦If punishment can be shown to promote effectively in the interest of society it is justifiable, otherwise it is not. Utilitariannbsp;nbsp;nbsp;nbsp;nbsp;Retributivist Maximize social benefit (maximize the benefit, minimize the harms)nbsp;nbsp;nbsp;nbsp;nbsp;The offender should experience the exact injustice inflicted Focuses upon the goal of punishment in each individual casenbsp;nbsp;nbsp;nbsp;nbsp;Offender deserves to experience the suffering or suffering inflicted by the criminal act Punishment is morally best which produces the maximum deterrence of criminal harm with the minimum amount of harm to the offendernbsp;nbsp;nbsp;nbsp;nbsp;Emphasis on the Goal of punishment rather than on an abstract reason Individual cases of punishment are justified if they are in accord with the rules of the justified Punishment systemnbsp;nbsp;nbsp;nbsp;nbsp;No equality between the crime of murder and the retaliation except by judicial system executing the criminal Punish only persons who have actually committed crimes, reduction murder ratenbsp;nbsp;nbsp;nbsp;nbsp;Make offender â€Å"take responsibility† for action, By re-paying the debt to society Number of lives saved , must be exceeded by the number of lives executednbsp;nbsp;nbsp;nbsp;nbsp;Punish the bad because they deserve it Punishment must effectively promotes the interests of societynbsp;nbsp;nbsp;nbsp;nbsp;Punishment mustShow MoreRelated Capital Punishment1099 Words   |  5 Pages Capital Punishment Murder, a common occurrence in American society, is thought of as a horrible, reprehensible atrocity. Why then, is it thought of differently when the state government arranges and executes a human being, the very definition of premeditated murder? Capital punishment has been reviewed and studied for many years, exposing several inequities and weaknesses, showing the need for the death penalty to be abolished. Upon examination, one finds capital punishment to be economically weakRead MoreCapital Punishment1137 Words   |  5 Pagescorresponding punishments. Among all penalties, capital punishment is considered to be the most severe and cruelest one which takes away criminal’s most valuable right in the world, that is, right to live. It is a heated debate for centuries whether capital punishment should be completely abolished world widely. The world seems to have mixed opinion regarding this issue. According to Amnesty International (2010), currently, 97 countries in the world have already abolished capital punishment while onlyRead MoreCapital Punishment1786 Words   |  8 PagesCapital Punishment Capital punishment, also known as the death penalty, is the toughest form of punishment enforced today in the United States. According to the online Webster dictionary, capital punishment is defined as â€Å"the judicially ordered execution of a prisoner as a punishment for a serious crime, often called a capital offence or a capital crime† (1). In those jurisdictions that practice capital punishment, its use is usually restricted to a small number of criminal offences, principallyRead MoreCapital Punishment1276 Words   |  6 Pagesbroken to get the death penalty, increased murder rates and wrongful accusations. There are many different views of the death penalty. Many different religions have their own views of the death penalty. In Hinduism, if the king does not inflict punishment on those worthy to be punished the stronger would roast the weaker like fish on a spit. In the religion of Jainism, mostly all of their followers are abolitionists of the death penalty which means that they oppose of it. Infact, this religionRead More Capital Punishment1898 Words   |  8 PagesCapital Punishment Imagine your heart suddenly beginning to race as you hear a judge give you a death sentence and then you’re quickly carried away in chains as your family sobs as they realize that they will no longer be able to see you. As you sit in your cell you begin to look back at your life and try to see where you went wrong to end up in jail waiting to carry out a death sentence, and at the same time know that you are an innocent waiting to be heard. This same scenario repeatsRead More Capital Punishment Essay: Retain Capital Punishment?696 Words   |  3 PagesCapital Punishment - Retain or Not?      Ã‚  Ã‚  Ã‚  Ã‚   This essay tangles with the question of whether or not we should retain the death penalty within the American code of penal law.    There is a feeling of frustration and horror that we experience at the senseless and brutal crimes that too frequently disrupt the harmony of society. There is pain which accompanies the heartfelt sympathy that we extend to the victims families who, in their time of suffering, are in need of the support and compassionRead MoreCapital Punishment2506 Words   |  11 PagesCapital Punishment and the Death Penalty Capital punishment exist in today’s society as citizens of the United States should we have the right to take an individual life. As illustrated throughout numerous of studies the death penalty is an unfair process seven out of ten deaths handed down by the state courts from 1973 to 1995 were overturned when appeal and the seven percent were later found to be innocent. Such as the Dobie Williams case which took place July 8, 1984. DobieRead MoreCapital Punishment Is A Legal Punishment1116 Words   |  5 Pageswhat the big deal about Capital Punishment is? According to free dictionary, Capital Punishment is to put to death as a legal punishment (Farlax). Capital Punishment is used worldwide, and is guaranteed to prevent future crime. Capital Punishment is a large controversy in the U.S. but before a personal opinion can be formed, some facts need to be known, such as what it is, where it is used and why it could be good or bad. Well, what is Capital Punishment? Capital Punishment is where a person is executedRead MoreCapital Punishment Is The Ultimate Punishment1704 Words   |  7 Pageswhat would you want from the government if he had killed someone you know? He should receive the capital punishment. The capital punishment is the ultimate punishment given to the precarious crimes. It is the last stage of capital punishment. There are different methods of like hanging, electric chair, lethal injection, firing squad, gas chamber. Murderers and rapist should be given extreme punishment, and they have to pay for their wrongdoing. We can observe crime rates are accelerating day-by-dayRead MoreCapital Punishment And Juvenile Punishment1631 Words   |  7 Pages Capital punishment is the term used when an individual is put to death by the state or government for the commission of a crime. Until recently, juveniles were not exempt from this punishment, however they would generally need to commit a more serious offense compared to their adult counterpart. Then there was the decision ruling the execution of mentally handicapped individuals was unconstitutional, using the 8th amendment as their authority, while taking into account the diminished capacity of

Haribo History free essay sample

The gummy bear made in Germany which is called gummibarchen in German, started in Germany in 1920. It was made by Hans Riegel in Germany. Hans Riegel, was born in 1893 in Friesdorf, He was the son of Peter and Agnes Riegel . After WWI, Hans was working in Heinen in Bonn-Kessenich but then was changed into the name of Heinen and Riegel. In 1920 Hans began working with a company of his own, he lived In a house in Bergstrasse in Kessenich.In 1945, Hans senior died, upon returning to Bonn from being prisoned in war camps , Hans junior and his younger brother, Paul, resolved to revive and expand the family business. They changed the recipe of their gummy bear sweets to make them colored and fruit-flavored. Paul took charge of production and technical matters, while Hans, who had been studying economics at the University of Bonn, handled sales and marketing.Hans Riegel was the oldest son. We will write a custom essay sample on Haribo History or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page He graduated from the Jesuit boarding school. He did his doctrine in 1951 at Bonn with his thesis The development of the world sugar industry during and after the Second World War. In fact, the name of the company, Haribo, comes from the first two letters of his name and where he was from (HANS RIEGEL BONN).[Haribo was recognized early on in the sixties. In 1962, the first TV advertisement for Haribo was broadcast in Germany. In the middle of the sixties, the advertising slogan Haribo macht Kinder frohwhich meant â€Å"haribo makes children happy† was made by the addition und Erwachsene ebenso which meant â€Å"and adults too†. These slogans expanded further on. The great success of the Goldbears encouraged Haribo to have an official birth certificate issued.You may not be aware of this but gummy bears taste different in certain countries. Also in some countries they have different flavors than others. The gummies were considerably different in color, texture, and flavor. Color was the first noticed in difference. The American ones, made with artificial colors, were more realistic than the German ones, which are made with natural colors. Texture-wise, the American ones are much softer and easier to chew than the German ones which are tougher. The German gummy bears had more flavor that was closer to real fruit than the American ones.

Star Struck free essay sample

Morning – high school students with glazed eyes stand under a streetlight; one stands apart, gazing at the stars. I am that dreamer. Every morning, I look toward the heavens, basking in the glow of the Greek and Roman gods. Orion watches as I get on the bus, Venus waves me off to a new day, and the moon looks on contentedly. I wasn’t always a student of the stars. I was once part of that group with glazed eyes and complete ignorance of the world above me. To me, the stars were just dots in the sky – twinkling lights with no personality and no story. The celestial world was as alien to me as I was to it. Knowledge changed this – astronomy was the medium. My baptism in astronomy came freshman year in Science Olympiad. Wright Stuff, Fermi Questions, and Practical Data Gathering were my events. Much to my dismay, my coach placed me in Astronomy. We will write a custom essay sample on Star Struck or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page I responded at once with a torrent of e-mails demanding the reason for this dastardly act. She simply replied, â€Å"Try something new. Even if you don’t like it, you’ll learn something.† I had no time for this clichA ©d explanation. I was a man of science who needed focus, not another distraction. Still, quitting was not an option, and so I grudgingly studied stellar evolution, spectroscopic analysis, and light curves. After months of struggle and frustration, I saw the result of my work: two shiny medals on my shelf and the value of understanding. As I willed myself through the formidable stack of resources, I began to understand there is more to the stars than a galactic connect-the-dots puzzle. There are stories, hidden secrets, and invisible mischief. Galaxies collide, forming a mass of chaotic matter. A white dwarf pilfers gas from its larger neighbor until it takes too much and explodes in a brilliant supernova. Neither star survives. Newborn stars bathe in gaseous nebulas, preparing for their celestial debut. This drama of the heavens teaches me that knowledge unleashes the extraordinary in the ordinary. The dark void of space is no longer an empty field but a template for the growth of the psyche. I take a step of the mind, and the gods materialize from the darkness. With a leap, the universe becomes my canvas – imagination is my paint. This art is a self-discovered one, and I withdraw into myself. Here, isolated within my mind, I find myself among the gods.

Family Tree of Harry Potter Author, JK Rowling

Family Tree of Harry Potter Author, JK Rowling Joanne (J.K.) Rowling was born in Chipping Sodbury near Bristol, England, on 31 July 1965. This is also the birthday of her famous wizard character Harry Potter. She attended school in Gloucestershire until the age of 9 when her family moved to Chepstow, South Wales. From an early age, J.K. Rowling aspired to be a writer. She studied at the University of Exeter before moving to London to work for Amnesty International. While in London, J.K. Rowling began her first novel. Her long road to the publication of the first Harry Potter book, however, was shadowed by the loss of her mother in 1990 and over a year of rejections by various agents and publishers. J. K. Rowling has since written seven books in the Harry Potter series and was named the greatest living British writer by The Book Magazine in June 2006 and Person of the Year in 2007. Her books have sold hundreds of millions of copies around the world. J.K. Rowling Joanne (J.K.) Rowling was born on 31 July 1965 in Yate, Gloucestershire, England. She first married television journalist Jorge Arantes in Portugal on 16 October 1992. The couple had one child, Jessica Rowling Arantes, born in 1993 and the couple divorced a few months later. J.K. Rowling later married again, to Dr. Neil Murray (b. 30 June 1971) on 26 December 2001 in their home in Perthshire, Scotland. The couple has had two children: David Gordon Rowling Murray, born in Edinburgh, Scotland on 23 March 2003 and Mackenzie Jean Rowling Murray, born in Edinburgh, Scotland, on 23 January 2005. J.K. Rowling's Parents Peter John Rowling was born in 1945. Anne Volant was born on 6 Feb 1945 in Luton, Bedfordshire, England. She died from complications of multiple sclerosis on 30 Dec 1990. Peter James Rowling married Anne Volant on 14 Mar 1965 in All Saints Parish Church, London, England. The couple had the following children: Joanne (J.K.) Rowling.Dianne (Di) Rowling, who was born on 28 Jun 1967 in Yate, Gloucestershire, England. Rowling's Grandparents Ernest Arthur Rowling was born on 9 July 1916 in Walthamstow, Essex, England and died about 1980 in Newport, Wales. Kathleen Ada Bulgen was born on 12 January 1923 in Enfield, Middlesex, England and died on 1 Mar 1972. Ernest Rowling and Kathleen Ada Bulgen were married on 25 Dec 1943 in Enfield, Middlesex, England. The couple had the following children: Jeffrey Ernest Rowling, born on 2 Oct 1943 in Enfield, Middlesex, England and died of bladder cancer on 20 Jul 1998 in Juno Beach, Palm Becah County, Florida.Peter John Rowling. Stanley George Volant was born on 23 June 1909 in St. Marylebone, London, England. Louisa Caroline Watts (Freda) Smith was born on 6 May 1916 in Islington, Middlesex, England. According to a 2005 article Plot twist shows Rowling is true Scot in the London Times, based on research by genealogist Anthony Adolph, Louisa Caroline Watts Smith is thought to have been the daughter of Dr. Dugald Campbell, who is said to have had an affair with a young bookkeeper named Mary Smith. According to the article, Mary Smith disappeared soon after giving birth, and the girl was raised by the Watts family who owned the nursing home where the girl was born. She was called Freda and told only that her father was a Dr. Campbell. The birth certificate for Louisa Caroline Watts Smith lists no father and identifies the mother only as Mary Smith, bookkeeper of 42 Belleville Rd. The birth took place at 6 Fairmead Road, which is confirmed in the London Directory of 1915 to be the residence of Mrs. Louisa Watts, midwife. Mrs. Louisa C. Watts later appears as a witness to Fredas marriage to Stanley Volant in 1938. Louisa Caroline Watts (Freda) Smith died about April 1997 in Hendon, Middlesex, England. Stanley George Volant and Louisa Caroline Watts (Freda) Smith were married on 12 March 1938 in All Saints Church, London, England. The couple had the following children: Anne Volant.Marian Volant.

The History of 7UP and Charles Leiper Grigg

The History of 7UP and Charles Leiper Grigg Charles Leiper Grigg was born in 1868 in Prices Branch, Missouri. As an adult, Grigg moved to St. Louis and started working in advertising and sales, where he was introduced to the carbonated beverage business. How Charles Leiper Grigg Developed 7UP By 1919, Grigg was working for a manufacturing company owned by Vess Jones. It was there that Grigg invented and marketed his first soft drink, an orange-flavored drink called Whistle for a firm owned by Vess Jones. After a dispute with management, Charles Leiper Grigg quit his job (giving away Whistle) and started working for the ​Warner Jenkinson Company, developing flavoring agents for soft drinks. Grigg then invented his second soft drink called Howdy. When he eventually moved on from ​Warner Jenkinson Co., he took his soft drink Howdy with him. Together with financier Edmund G. Ridgway, Grigg went on to form the Howdy Company. So far, Grigg had invented two orange-flavored soft drinks. But his soft drinks struggled against the king of all orange pop drinks, Orange Crush. But he couldnt compete  as Orange Crush grew to dominate the market for orange sodas. Charles Leiper Grigg decided to focus on lemon-lime flavors. By October of 1929, he had invented a new drink called, Bib-Label Lithiated Lemon-Lime Sodas.  The name was quickly changed to 7Up Lithiated Lemon Soda and then again changed to just plain 7Up in 1936. Grigg died in 1940 at the age of 71 in St. Louis, Missouri, survived by his wife, Lucy E. Alexander Grigg. Lithium in 7UP The original formulation contained lithium citrate, which was used in various patent medicines at the times for improving moods. It has been used for many decades to treat manic-depression. It was popular to go to lithium-containing springs such as Lithia Springs, Georgia or Ashland, Oregon for this effect. Lithium is one of the elements with an atomic number of seven, which some have proposed as a theory for why 7UP has its name.  Grigg never explained the name, but he did promote 7UP as having effects on mood. Because it debuted at the time of the stock market crash of 1929 and the onset of the Great Depression, this was a selling point. The reference to lithia remained in the name until 1936.  Lithium citrate was removed from 7UP in 1948 when the government banned its use in soft drinks. Other problematic ingredients included calcium disodium EDTA which was removed in 2006, and at that time potassium citrate replaced sodium citrate to lower the sodium content. The company website notes that it contains no fruit juice. 7UP Goes on Westinghouse took over 7UP in 1969. It then was sold to Philip Morris in 1978, a marriage of soft drinks and tobacco. The investment firm Hicks Haas bought it in 1986. 7UP merged with Dr. Pepper  in 1988. Now a combined company, it was bought by Cadbury Schweppes in 1995, a more likely marriage of chocolates and soft drinks. That company spun off the Dr. Pepper Snapple Group in 2008.

AGM -an ineffective forum for shareholder democracy Essay

AGM -an ineffective forum for shareholder democracy - Essay Example Corporate governance - an awkward phrase with several definitions among which the simplest and effective is the one that describes corporate governance as a system by which companies are directed and controlled (Committee on the Financial Aspects of Corporate Governance, 1992)1. Corporate Governance supports businesses that are well managed, well directed, and well controlled. Indeed one of the functions of good corporate governance is to help ensure that good management is in place. Nevertheless, some of the most conspicuous failures in recent years have stemmed from a failure of the control function or from poor direction.All systems of corporate governance have to be considered against the social, economic, legal, and political background of the country in which they developed. A study of the relevant laws governing corporations does not reveal enough in any country unless they are understood on the basis of attitudes and patterns of behaviour to make sense of them. Examples are t hat of the company laws of Japan and the UK that are not too dissimilar in structure, but the results are poles apart. When we examine remuneration we find a marked difference in approach between the USA and Germany, where exorbitant share schemes have in the one become common and barely exist in the other. According to Charkham & Simpson (1999) "The impact upon competitiveness appears irrelevant, however other differences tell us that banks play a much larger part in Germany and Japan, not because of any deliberate policy, but because their economies happened to develop in ways in which this occurred and by the same token the stock market has a bigger role in the UK and USA"2 (Charkham & Simpson, 1999, p. 28). Reforms on both sides show that no system is immune to pressure for change, be it domestic or international. One purpose of good corporate governance is to reduce this accident rate, because unnecessary collapse is so damaging to all concerned; and where it occurs in a major company may be catastrophic. Another purpose is to encourage management to seize opportunities, and we can only speculate on how many have not been taken in the UK over the years. Corporate governance as a subject therefore is as broad as life itself, because it touches upon fundamental elements in the economy and society at large. The Role of AGM The reason for considering AGM ineffective might be the choice of a year as the period between company meetings appear a reflection of the world of nature and the tyranny of the seasons, rather than any particular logic dictated by the needs of any organisation that is not subject to them. Shareholders recognised this in the political world by having elections at various intervals and, even the UK has itself varied and to this day does not have a uniform period between elections for all levels of government. This means AGM does not support shareholders in terms of democratic elections and as far as companies are concerned, there is no particular reason, especially in these days of overflowing information, why the annual AGM cycle should be a year long. Sometimes it might be a half-year, or a quarter, for that matter eighteen months or two years, there is no particular timings for conducting regular elections. On the other hand taxation has a bearing on the choice of period and most governments raise taxes on an annual cycle but even this is not necessarily immutable and the accounting period does not have to be twelve months either; indeed

Protection or Free Trade for International Trade Essay

Protection or Free Trade for International Trade - Essay Example While both protectionism and free trade have their own advantages and disadvantages, the cost by far outweighs the benefits of protectionism. The arguments made in favor of protection are that the foreign producers have a â€Å"comparative advantage†, that protection helps the local infant industries flourish, that without protection importers would recklessly â€Å"dump† goods in the market, that protection protects the local producers, and finally, that protection prevents an imbalance of trade. However, each of these â€Å"perceived benefits† of protectionism comes at long-term costs which are far greater than the short-term benefits as explained below. The â€Å"comparative advantage† argument assumes that exporters from other countries have a strong competitive advantage that makes local producers less competitive thereby driving local companies out of business. For example, the labor cost in a developing country compared to that in a developed countr y puts some of the labor intensive local industries at a relative disadvantage. However, by moving to free-trade, countries are able to specialize in some other field where they have a comparative advantage. With such a specialization, the countries are able to take advantage of efficiencies generated from economies of scale and increased output. Also, free international trade increases the size of a firm’s market, resulting in lower average costs and increased productivity, ultimately leading to increased production. In the last few year, while China and India have taken up more work on the labor intensive industries, businesses in the developed countries have been able to actually take advantage of the lower cost and focus on their comparative advantage and invest more on research and development, and other high value added jobs. Besides, the comparative advantages do not last forever. Sooner or later, the advantage fades away. For example, according to Lyndesy Romick of gl obal envision, in China labor accounted for only about 2 percent of a manufacturing company’s total costs in 2000 but 2010 it was closer to 12 percent. That protectionism helps grow the infant industries is a misplaced fallacy. Government subsidizing of a new industry may channel too many resources into that industry, and can render the industry permanently inefficient and vulnerable to competition. Besides, most infant industries are at a competition from domestic competitors and not necessarily only importers. In the last few decades, the "infant" plastics, television, and computer industries have made out very well without any protection. Next, we consider the argument of dumping. Dumping may be defined as the overflow of cheap priced goods in order to under-cut the competition and gain market share. Now, if an importer starts dumping goods in a market, it would actually be good for the customers, and for the government in terms of revenue it makes no change. The only bad effect of dumping is for local producers. Logically, no firm can enjoy â€Å"dumping† as a sustainable strategy – selling below cost in the long-term would drive them to bankruptcy. Also, according to Rothbard, â€Å"†¦historical investigation has not turned up a single case where predatory pricing, when tried, was successful, and there are actually very few cases where it has even been tried.† The next pro-protectionism claim that it protects local producers is also at a huge cost. By protecting the local producers, there is no

Dont give up on love Essay Example for Free

Dont give up on love Essay Shilpa’s heart was broken by the Khiladi of Bollywood, Akshay Kumar but she never gave up on love. The rumour mills were abuzz about her ‘relationship’ with director Anubhav Sinha, but she firmly denied them. After winning Big Brother, Shilpa went to launch her signature perfume S2 and met Raj occasionally for the launch preparations. On their first media appearance, Shilpa called Raj, her ‘business friend’ but their frequent meetings soon took a personal turn. Shilpa soon announced her engagement to the world and proudly showed off the 20 carat diamond ring which had been gifted to her by Raj. A firm believer of karma and past life, Shilpa went on to say in an interview that Raj was a part of her past life and now they are back together. Lesson Learnt: So girls, no matter how many boys break your heart; don’t ever settle for anyone except for your Mr. Right. Never embarrass your ex publicly You may be seething in anger and may want to kill your ex for two timing you, but in public, you must always be at your dignified best. Even though Shilpa was heartbroken after her break up, she has often said in interviews that there is no animosity between her and Akshay and they are good friends. Akshay and Shilpa have come face to face on a number of occasions, most recently on the celebrity dance show Nach Baliye, but Shilpa has always been pleasant to her ex-flame. Lesson Learnt: Your ex may be the devil’s incarnate, but you should never wash the dirty linen in public. Maintain dignity under pressure Life wasn’t easy for this gorgeous actress, but things took a turn for worse when she entered the celebrity Big Brother 5 in 2007. Racial slurs by her fellow contestants Jade Goody, Danielle Lloyd, Jack Tweed and Jo OMeara rattled her but she did not give up. She stayed in the house and soon emerged as Britain’s favourite with 63 per cent votes. Not the one to hold grudges, Shilpa soon forgave Jade Goody and other contestants. She told the host of the show Davina McCall, â€Å"People make mistakes and were all human beings, were all fallible. Lesson Learnt: In a high pressure situation, never let your attackers get to you. Keep yourself in positive spirits, maintain your dignity and always let bygones be bygones. Make time for family You may be swiftly climbing the success ladder, but don’t forget your family in all that excitement. Shilpa decided to take a break from her acting carrer for a year after her son Viaan was born. She signed up for a couple of endorsements, but ensured that her schedule would not take up too much of her time. 1. Dont give up on love Shilpa’s heart was broken by the Khiladi of Bollywood, Akshay Kumar but she never gave up on love. The rumour mills were abuzz about her ‘relationship’ with director Anubhav Sinha, but she firmly denied them. After winning Big Brother, Shilpa went to launch her signature perfume S2 and met Raj occasionally for the launch preparations. On their first media appearance, Shilpa called Raj, her ‘business friend’ but their frequent meetings soon took a personal turn.less 2. Shilpa soon announced her engagement to the world and proudly showed off the 20 carat diamond ring which had been gifted to her by Raj. A firm believer of karma and past life, Shilpa went on to say in an interview that Raj was a part of her past life and now they are back together. Lesson Learnt: So girls, no matter how many boys break your heart; don’t ever settle for anyone except for your Mr. Right. 3. Never embarrass your ex publicly You may be seething in anger and may want to kill your ex for two timing you, but in public, you must always be at your dignified best. Even though Shilpa was heartbroken after her break up, she has often said in interviews that there is no animosity between her and Akshay and they are good friends. Akshay and Shilpa have come face to face on a number of occasions, most recently on the celebrity dance show Nach Baliye, but Shilpa has always been pleasant to her ex-flame. Lesson Learnt: Your ex may be the devil’s incarnate, but you should never wash the dirty linen in public.less 4. Maintain dignity under pressure Life wasn’t easy for this gorgeous actress, but things took a turn for worse when she entered the celebrity Big Brother 5 in 2007. Racial slurs by her fellow contestants Jade Goody, Danielle Lloyd, Jack Tweed and Jo OMeara rattled her but she did not give up. She stayed in the house and soon emerged as Britain’s favourite with 63 per cent votes. 5. Not the one to hold grudges, Shilpa soon forgave Jade Goody and other contestants. She told the host of the show Davina McCall, â€Å"People make mistakes and were all human beings, were all fallible. Lesson Learnt: In a high pressure situation, never let your attackers get to you. Keep yourself in positive spirits, maintain your dignity and always let bygones be bygones. 6. Make time for family You may be swiftly climbing the success ladder, but don’t forget your family in all that excitement. Shilpa decided to take a break from her acting carrer for a year after her son Viaan was born. She signed up for a couple of endorsements, but ensured that her schedule would not take up too much of her time. 7. In an industry where actresses are always under the media scanner for their weight-issues, Shilpa says that she is no hurry to lose post-pregnancy flab. She believes â€Å"As we are in the glamour business, we are always scrutinised for our appearances and are bound to have insecurities. But for a mother, these first four months are very crucial for the childs health. You should not compromise with it.† 1. Dont give up on love Shilpa’s heart was broken by the Khiladi of Bollywood, Akshay Kumar but she never gave up on love. The rumour mills were abuzz about her ‘relationship’ with director Anubhav Sinha, but she firmly denied them. After winning Big Brother, Shilpa went to launch her signature perfume S2 and met Raj occasionally for the launch preparations. On their first media appearance, Shilpa called Raj, her ‘business friend’ but their frequent meetings soon took a personal turn.less 2. Shilpa soon announced her engagement to the world and proudly showed off the 20 carat diamond ring which had been gifted to her by Raj. A firm believer of karma and past life, Shilpa went on to say in an interview that Raj was a part of her past life and now they are back together. Lesson Learnt: So girls, no matter how many boys break your heart; don’t ever settle for anyone except for your Mr. Right. 3. Never embarrass your ex publicly You may be seething in anger and may want to kill your ex for two timing you, but in public, you must always be at your dignified best. Even though Shilpa was heartbroken after her break up, she has often said in interviews that there is no animosity between her and Akshay and they are good friends. Akshay and Shilpa have come face to face on a number of occasions, most recently on the celebrity dance show Nach Baliye, but Shilpa has always been pleasant to her ex-flame. Lesson Learnt: Your ex may be the devil’s incarnate, but you should never wash the dirty linen in public.less 4. Maintain dignity under pressure Life wasn’t easy for this gorgeous actress, but things took a turn for worse when she entered the celebrity Big Brother 5 in 2007. Racial slurs by her fellow contestants Jade Goody, Danielle Lloyd, Jack Tweed and Jo OMeara rattled her but she did not give up. She stayed in the house and soon emerged as Britain’s favourite with 63 per cent votes. 5. Not the one to hold grudges, Shilpa soon forgave Jade Goody and other contestants. She told the host of the show Davina McCall, â€Å"People make mistakes and were all human beings, were all fallible. Lesson Learnt: In a high pressure situation, never let your attackers get to you. Keep yourself in positive spirits, maintain your dignity and always let bygones be bygones. 6. Make time for family You may be swiftly climbing the success ladder, but don’t forget your family in all that excitement. Shilpa decided to take a break from her acting carrer for a year after her son Viaan was born. She signed up for a couple of endorsements, but ensured that her schedule would not take up too much of her time. 7. In an industry where actresses are always under the media scanner for their weight-issues, Shilpa says that she is no hurry to lose post-pregnancy flab. She believes â€Å"As we are in the glamour business, we are always scrutinised for our appearances and are bound to have insecurities. But for a mother, these first four months are very crucial for the childs health. You should not compromise with it.† 8. In another interview when she was asked what things she would grab in case there is a fire in her home, the gorgeous actress replied, â€Å"I would just make sure that my family escapes. Material things dont matter.† Lesson Learnt: Family comes first, always! And Ladies, enjoy each and every phase of your life. Motherhood is a blessing and do not let any nasty comments about your weight or appearance affect you.

Underfunding in the Canadian Criminal Justice System Essay -- Criminal

Underfunding in the Canadian Criminal Justice System Underfunding is the greatest Challenge that is faced by the Canadian Criminal Justice System. This paper will discuss the Police Forces aging population and the challenges to replace them when they retire, it will also look at the insufficient quantity of officers needed to investigate all crime. The underfunding of the legal aid program and the effects on the courts and family law will be discussed. Finally the effects of long-term underfunding of the countries prison system and its effects on the most vulnerable inmates will also be measured. Not Enough Police Officers Baby Boomers One of the challenges the Canadian justice system faces is lack of personnel, specifically police officers. The baby boomers are approaching retirement and there experience and sheer numbers will be missed. According to Macleod (2009) half of the senior police officers will be eligible to retire within 5 years. Considering the shrinking labour pool this will make it difficult to replace these officers all at once. Macleod (2009) further states that without doubling or tripling the hiring rate of officers, the police will have to start cutting back some duties they currently perform. Normally 2000 new officers are hired across Canada every year; however by 2012 in order to replace the baby boomers, 5000-6000 will need to be hired. This might be more difficult than it sounds, considering most youth do not seem that interested in policing according to a recent survey of 1521 youths aged 16-27, that found only four percent would think about becoming officers (Macleod, 2009). The lack of funding and cutting of police budgets has left Canada in a serious dilemma when it comes to ability to deal wi... ...Weekly: http://www.lawyersweekly.ca/index.php?section=article&articleid=1281 Lunau, K. (2010, March 30). What's the agenda behind the tory prison budget boost? Retrieved December 02, 2010, from Maclean's: http://www2.macleans.ca/2010/03/30/whats-the-agenda-behind-the-tory-prison-budget-boost/print/ Rybak, J. (2009, September 16). Down by law. Retrieved December 02, 2010, from Maclean's : http://www2.macleans.ca/2010/03/30/whats-the-agenda-behind-the-tory-prison-budget-boost/print/ Macleod, I. (2009, November 13). Canada needs more police officers, says policing council boss. Retrieved December 02, 2010, from Canada.com: http://www.canada.com/Canada+needs+more+police+officers+says+policing+council+boss/2221364/story.html Wallace, M. (2008). Police reported crime statistics in Canada, 2008. Retrieved December 02, 2010, from Statistics Canada Catalogue no.85-002-X.

Musket Wars

The first major cause of the Musket Wars was the introduction of European Technology, particularly Muskets. This changed the economy of Maori society, as they had no form of currency so trade was their means to gain power and ‘wealth’ This created the danger of one tribe, in this case Nga Puhi growing increasingly powerful and influential, therefore their supplies of these muskets and weaponry growing exponentially in size. In 1821 Nga Puhi leader Hongi Hika acquired 300 muskets after trading them for his gifts he received from the King of England.This became a turning point in the Wars as it gave him overwhelming power for his tribe in the North. Muskets greatly altered the way in which Maori fought battles, as these muskets could cause far more death and destruction than previous weaponry used by the Maori. Historians such as Angela Ballara argue that the Muskets were not the cause of the actual start of the War, the war could just as easily be called ‘Potato war s’ as many Maori fought for food supply, but because of the destructive nature of the muskets, without their role the Wars could have taken a very different path.The introduction of Muskets also amplified tensions between Nga Whatua and Nga Puhi, as Nga Puhi acquired more and more muskets, other tribes particularly Nga Whatua felt threatened by the potential use of these muskets, and confrontation between these now heavily armed tribes became inevitable. The colonization of NZ by Europeans and subsequent consequences support the ‘Fatal Impact theory’, which states that impact of European society on Maori lead to the general downfall of Maori, but it is impossible to blame the Musket Wars entirely on European impact.Prior to European contact the Maori had a well-established political system between iwis. For them war was an essential part of this, as a means of declaring land ownership. Wars were fought quickly between short distances, resulting in fewer deaths. T he first war fought with muskets was the battle of Moremanui in 1908, when Nga Whatua secured a victory of Nga Puhi, as they tried to reload their muskets.The leader of Nga Puhi Hongi Hika wished to execute revenge on Ngati Whatua for the defeat, thus leading to his acquisition of muskets and intertribal warfare. The conclusion can be made that the Maori pre-established political system of which war was an integral part, was a major factor leading to the intertribal warfare of the Musket Wars, but European impact was the factor that made the warfare so destructive and lead to the many fatalities.

Workplace Analysis of the Psychological Contract

The saying that mutual admiration within the workplace binds the workforce could be a pretext to harmonizing relationships between employees and employers. The mutual admiration could be working both ways of benefits, being beneficial to the result of work and the business endeavor. Thus, mutual admiration of workforce within the organizational setting of a workplace is perceived to tie the bond of commitment, reliability and trust, aside from the legal stipulations in a written contract of employment. However, how a psychological contract does characterize the mutual values of consistency and guaranty between an employee and an employer? This basic question could be examined in the process of understanding the relationships and define the circumstances surrounding the situations in the workplace. This paper will discuss and analyze the psychological contract affecting the workplace, relating several issues being confronted by employees and employers. Defining psychological contract and its effect It would be important first to know what psychological contract is all about. As defined by Psychologists Janet Smithson and Sue Lewis from the Department of Psychology and Speech Pathology at the Manchester Metropolitan University, understanding the â€Å"psychological contract† is referred to as the â€Å"meeting of expectations† where both employee and employer aspires (Arygris 1960; in Price, Munden & Solley 1962; in Smithson & Lewis 2003: pp. 1-2). In layman’s definition, â€Å"meeting of expectations† could be exemplified by the performance of the employee towards work which is being expected by the employer to produce a quality, efficient and effective result. On the other hand, it is for the employer to provide the necessary wage and benefits, compensating the good result of performance of the employee. However, without meeting neither one nor any of the expectations could breach and defeat mutual concern. In which case, one of the results could be a defiance and conflict of interests, wherein work and labor related issues become a dilemma in the workplace. Psychological contract in contemporary working environment With the rapidly increasing growth in numbers and sizes of profitable organizations, human resource management experts and scholars perceive the development of a â€Å"standardized† labor policy and procedures in workforce deployment. Correlated to this perception is the indicated inclination of management leadership to eventually acknowledge the reform through labor treaties, specifically in recognizing the collective bargaining agreement with labor unions. However, â€Å"meeting of expectations† may still be a â€Å"one-sided† concern of the employer’s management due relevance of emerging diversified industries that may not totally materialize the â€Å"inclination† to reform the culture in a workplace. Kheeran Dharmawardena (2008) in his journal entitled: ‘The Changing Nature of the Psychological Contract and its Impact on Modern Organizations’, has examined the relevance of psychological contract from the early studies of several organizational experts. Dharmawardena synthesized the findings that scarcity of employment and security of tenure patterns the good performance of employees (Bergmann et. al. 2001; in Lester & Kickul 2001; in Dharmawardena 2008: pp. 1-7). It may be analyzed that causal to the shortage of employment opportunities, the workforce retains the â€Å"showmanship† of performance, aspiring to achieve â€Å"job security† or long tenure of employment. The aspiration itself relinquish the â€Å"no-no attitude†, wherein retaining good performance in the distinction of skills and acquirement of further learning from the workplace extends the â€Å"systems thinking† as a psychological contract to upholding the need of being employed. Acknowledging the above analyses has related the perception of Cyril van de Ven, (2004) who viewed that the intensive diversified industrial trends increases the effects of unpredictable organizational change. Considering the unpredictability, most contemporary employers are decisive in achieving the sustainability of their organizations (especially the businesses that rely in the global supply chain) by acquiring the best possible workforce, workplace and market (Rousseau 1995; in Shore & Tetrick 1994; in van de Ven 2004: pp. 1-11). It shows that this typical ambition of contemporary employers is relative to â€Å"systems thinking† of the employees, having the psychological contract to securing the profitability and existent ability to do business. In sum, the mutual concern of employee and employer attributes the psychological contract of sustaining the interest, in which narrates the desire or aspirations of the employment to co-exist in a secured and sustained working environment. Psychological contract and workplace issues This topical discussion features the subject matter pertaining to psychological contract and workplace issues. As an overview, the mutual aspect in sustaining overall organizational performance signifies the â€Å"oneness or belongingness† of membership to the organizational objective, referring to members and leadership. However, the situation of dissatisfaction and question of confidence becomes the common issue that is dealt with, specifically in employee and employer relationship. Janice Anna Knights and Barbara Jean Kennedy (2005), in their journal ‘Psychological Contract Violation: Impacts on Job Satisfaction and Organizational Commitment Among Australian Senior Public Servants’, has cited the finding that dissatisfaction and loss of confidence are perennial issues dreadfully affecting the psychological contract. According to Knights and Kennedy, the common violation to the value of satisfaction is being dismayed by the fact that what has been verbally promised is contradicted by lies. This can be exemplified by the failure of the organizational leadership in fulfilling the promise to the membership. Reflective of Knight’s and Kennedy’s ascription to psychological contract on that particular case of unfulfilled promises may not only result dissatisfaction or disappointment but a deliberate disparity that may lead to organizational collapse. It may also relate the situation in a workplace where the employees were not able to achieve the promised benefits and due compensation of labor, in which the psychological contract to expect or aspire the viability of employment has failed. In most cases of labor disputes, the unfulfilled delivery of legally or lawfully mandated wages and benefits is claimed to violate the laborer’s rights. The violation may in itself affect the psychological contract of the employee, being unsecured or unguaranteed to achieve the source of livelihood. Therefore, psychological contract extends the paranoia of defeated and unfulfilled envisioning for a beneficial workplace. In Cantisano et al. ’s (2007) journal, entitled: ‘Social Comparison and Perceived Breach of Psychological Contract: Their Effects on Burnout in a Multigroup Analysis’, has documented the prevalence of gross labor violations. Based on the exhibited data from the conducted study research, the responses of respondents ranging from lower-income to medium-income labor forces or employees suffer from â€Å"breach of psychological contract†. To cite, employer denial to providing the necessary and just compensation [as required by law] infringe the common aspiration of the workforce to obtain the reasonable share of labor. As further cited, the effect on the â€Å"breach of psychological contract† has indicated the respondent’s extreme anxiety, such as (1) negative social judgment referring to employee-employer relationship, (2) emotionally exhausted for being violated and abused, (3) feeling of cynicism or skeptic that employers are exploitative, and (4) loss of self confidence and esteem (Van der Zee et al. 2000; in Cantisano et al. 007: p. 125). Empowering psychological contract In relation to the previous discussions, Brian P. Niehoff and Robert J. Paul (2001) of the electronic magazine Review of Business have proposed the enabling of policies that may be supplemented to the existing labor laws. Accordingly, the 2001 data of incidence in committing labor-related violations has remarkably increased to an alarming 33,000 cases of labor malpractice pending before the investigation or proper promulgation of the National Labor Relations Board which piled up in ten years from 1991 (Niehoff & Paul 2001: pp. -2). Niehoff and Paul (2001) have emphasized that â€Å"loose promises† in the workplace in order to encourage or attract the attention of the workforce. It may validate the negative thinking [of the already cynical employees] that employment is no longer beneficial and insensible to the aspirations of the workforce to gain social equity and equal treatment of labor. As cited, the disagreement point out to unreciprocated or unequalled performance of the employers to maintain the tenure of employment and sustainable income sourcing (Niehoff & Paul 2001: pp. 3-4). Indicative of Neihoff and Paul’s proposal could harness the psychological contract within the workplace. Upholding the â€Å"sensitivity† of the employer would mean to fulfill the promise by granting the just compensation and rectify indiscriminate treatment, and abdicate the flawed promises. As cited, it may not only the conflict within the workplace that shall be settled but the whole process of the system, wherein workforce may only be survived by their â€Å"grim determination†, and the remainder of â€Å"self-belief† that contemplating on the issue could be the only way to obtain the psychological contract. However, the â€Å"culture of deceit† could be permanent or entangled in the protectionist character of employers, obviously protecting the business interest (Neihoff & Paul 2001: pp. 3-4). Empowering the psychological contract can be objectively described in the organizational life of Pret a Manger, a leading sandwich biscuit company in the United Kingdom. In a contributed article of Psychologist Michael Wellin which was recently published by the electronic magazine Chief Executive Officer (CEO) of the SPG Media Limited, it quoted that: growing numbers of businesses apply the psychological contract convergent to forge organizational relationship between employees, the management and the company itself†. Dr. Wellin pointed out that the â€Å"trade secret† of Pret a Manger is the continuing openness of thoughts and understanding the situation, character and culture of the organization, where employees and employers are aware and much sensitive in dealing with the issues that relates the psychological contract. Dr. Wellin has found the strong importance of organizational values of Pret a Manger in dealing with the â€Å"mutuality of efforts† of both employees and employers. As cited, Pret a Manger has developed the organizational expectations by and between the employees and the management, such as follows in bulleted list below (Wellin 2008; in SPG Media Limited 2008: pp. 1-2): Management expectation on employee’s attitude towards work †¢ Sensible hard work; †¢ Prudently hilarious and easy to please; †¢ Have the benefit of good life; †¢ Work early to leave early. Employee’s expectation from Pret a Manger management †¢ Fairly compensated according to individual performance and position; †¢ Dynamic working environment of diverse workforce and skills; †¢ Provide development-education and skills training; Promotion of managers among the internal regular employees. Based on the findings on empowering the psychological contract, it appears that retaining the â€Å"mutuality of efforts†, referring to meeting the expectations of employees and employers, could paved the way towards achieving a dynamic and reliable collaboration or synergy in the workplace. This extends the analysis that fulfilling the psychological contract of the workforce systematizes and mobilizes their natural desires to sustain the viable means of the workplace, in which therefore meeting the expectations or objectives of the leadership at a judicious manner. It may also attribute the perception that the sensibility of an employer in upholding the employees expectations [as a psychological contract] could be considered as a social, moral and civic responsibility by promoting the rights and welfare of the labor force, wherein a more beneficial return will impart to the invested cost of values and as bonus to the margins of business profit. To further validate the analysis, it points out the situation that psychological contract eventually changes according to socio-economic, socio-cultural and socio-political changes. This can be exemplified by the previous discussions on the development of labor forces and markets that have been attributed by the rapidly changing business and policy environment as a result of â€Å"social diversification of industries†, keeping abreast at the global landscape of production and supply of goods. In short, psychological contract emerges in the â€Å"social and economic status† of the labor force. As cited, psychological contract always retains in the unstable or stable economic and political condition which reciprocate a particular situation (Pascale 1997; in Sharpe 2001). This can be exemplified by the prevailing global economic recession, in which the downturn of economies of highly developed and rich countries [like the US and some European countries] affects the domestic economies of undeveloped countries as a result of depleted purchasing power that as well decline the demand for labor market. Thus, the virtual effect of economic crises affects the â€Å"systems thinking† of the employees in a particular firm that may at anytime declare a bankruptcy and closes shop. The psychological contract on the expected security of tenure in employment would be at the brink of eventual loss. It may be further analyzed that workplace is an â€Å"economic-driven† organization that exist and operate its venture within a calculated business risks. The only dynamism could be indicated by feasibility studies along with planning and market testing. In this particular condition, unpredictability and uncertainty of employment may pattern the psychological contract of workforce in a workplace. Findings and conclusion This paper has found that psychological contract is characterized by the â€Å"social and economic values† pertaining to the mutual efforts and benefits of an employee and employer. In other words, there must be co-existing endeavor, agreements and appreciation to making effective, reliable and congruent the achievement of requirements and sharing of needs. However, the findings may have only analyzed the situational perception of a workplace, in which may needing the variations of reconsidering the overall â€Å"societal conditions†. What has then highlighted in the result of examining and analyzing the empirical studies derived and depicted in this paper is the fact that psychological contract can only be achieved by a consistent and truthful fulfillment of expectations, reassuring mutual efforts of employee and employer. It may be then concluded that psychological contract can be sustained by making productive the economic condition of every countries, good governance and the advancement of policy support on workforce and workplace issues. Thus, psychological contract attributes the achievement of an economically secured family and socially progressive population.

Privacy in the Information Age essays

Privacy in the Information Age essays Privacy is at the very soul of being human (Diffie, 555). For as long as humans can remember privacy has always been a major issue in our society. From the time telephones came into play, in which strangers had the advantage of calling your own private house to talk to you, until now with the creation of the Internet. With the rise of technology in the U.S. today many of our individual privacies have been invaded, from video cameras that record our entries into shops and buildings to supermarket checkout tapes... (Diffie, 555). Every step we take is pretty much watched by the government. As Bob Herbert describes it, We are very close to the day when strangers will know, or will be able to know, anything they want about you ( 540). What Herbert is trying to say is that if we keep on heading in the same direction we are going now our individual privacies are pretty much going to be destroyed. Many people look at the destruction of privacy in a bad way, not taking into consideration the other perspective of this problem. The invasion of privacy in the U.S. can have both a positive and negative effect on our society. When many people think about the invasion of their privacy they tend to ignore the indirect positive affects that it has on their society. Sometimes in certain situations individual privacy has been given up for the protection of U.S. citizens as a whole. Two good examples are the medal detector screens and the searches of personal belongings at airports (Hubbartt, 554). Although it is true that these searches are invading peoples privacy of what they have in their suitcase, at the same time it is protecting them from any terrorist attacks on board. Its better to give up a little of your privacy then to put your life into the hands of strangers. Although you trust yourself you cant trust others around you. You never know who the person sitting next to yo...

Lydia Dustin Was Accused in the Salem Witch Trials

Lydia Dustin Was Accused in the Salem Witch Trials Lydia Dustin died in prison and is best known for being accused as a witch in the Salem witch trials of 1692. Dates: 1626? - March 10, 1693Also known as: Lidia Dastin Family, Background Not much is known of her other than connections to others also accused in the Salem witch trials. Mother of Sarah Dustin and Mary Colson, grandmother of Elizabeth Colson. More About Lydia Dustin Lydia, a resident of Reading (Redding), Massachusetts, was arrested on April 30 on the same day as George Burroughs, Susannah Martin, Dorcas Hoar, Sarah Morey, and Philip English. Lydia Dustin was examined on May 2 by magistrates Jonathan Corwin and John Hathorne, on the same day that Sarah Morey, Susannah Martin, and Dorcas Hoar were examined. She was then sent to Bostons jail. Lydias unmarried daughter Sarah Dustin was the next in the family accused and arrested, followed by Lydias granddaughter, Elizabeth Colson, who eluded capture until after the third warrant was issued (sources differ on whether she was ever captured). Then Lydias daughter Mary Colson (Elizabeth Colsons mother), was also accused; she was examined but not indicted. Both Lydia and Sarah were found not guilty by the Superior Court of Judicature, Court of Assize and General Gaol Delivery in January or February 1693, after the initial trials had been suspended when criticized for their use of spectral evidence. However, they could not be released until they paid jail fees. Lydia Dustin died still in jail on March 10, 1693. She is thus usually included on lists of those who died as part of the Salem witchcraft accusations and trials.

Business Financial Crime Coursework Example | Topics and Well Written Essays - 2500 words

Business Financial Crime - Coursework Example The paper analyzes the frauds associated in the earning management and cites some cases of frauds in the earning management. A section of the paper also deals with the regulatory framework of earning management in countries like USA and UK. The concept of earning management can be defined under three board heads of white, black and Gray. White signifies the beneficial earnings which are used to enhance the transparency of the financial reports whereas black signifies the misrepresentation of the report and involves fraudulent activities. The gray denotes the manipulation of financial reports which occurs within the boundaries of the compliance, which are done to enhance the efficiency or to provide opportunistic results. Under the gray concept, earning management involves the selection of accounting principles which helps to maximize the overall utility of the management of the organization. Earning management is initiated by the mangers when they use their judgment in the reporting of the financial statement and alters certain information within the reports for misleading the stake holders or to influence the outcome of certain contracts which depends on the stability of the organization in terms of accounting figures . However all earning management does not involves the misrepresentation of the facts and figures. Certain organizations do not resolve to distortion of figures of the accounting report and allows the investors to distinguish between the various components and they only undertake operations which enhance the value of the information associated with the earnings of the organization. Earning management often proves to be beneficial in determining the long term value of the organization and at the same it can be pernicious while concealing the short term value. The concept of earning management is declared as fraud and it violates the rule specified by GAAP, when the organization records sales in the accounting reports

To Kill A Mockingbird Essay Example | Topics and Well Written Essays - 500 words

To Kill A Mockingbird - Essay Example Dill lives in Mississippi but he his vacations in Maycomb. Atticus is the main character of the story. He is a man of strong moral value. He had great sense of patriotism. He was against the custom of racism which existed in his society. He instilled in his children great sense of equality. He set an ideal example for them by fighting the case of black man for which he had to stand against his own society in order to support justice and truth. He was a great guide and teacher for his children and an extraordinary human being as well. â€Å"There goes the meanest man that ever took a breath of life† The story seems to say that Atticus is Atticus because of Maycomb. "He liked Maycomb, he was Maycomb County born and bred; he knew his people, they knew him. . . ." Later, when Atticus is striving to console Jem about the culpable judgment in the Tom Robinson case he tells Jem that they are going to live in Maycomb after the case is over. Though so, Maycomb is no ecstasy; no paradis e on the hill, no place one can celebrate without worries and melancholy. It is living in Maycomb, working at law there, that we see Atticus as the man that he is.

Netflix and Porter's Five Forces Model Coursework

Netflix and Porter's Five Forces Model - Coursework Example The HBO subscribers are able to watch any available movie on the network at any given time. For instance, Netflix customers have the ability to order movies online at a relative lower fee of $7.99 per month (Jones and Hill 42). Supplier power in the movie rentals is also recognized to be too low. The low supplier power can be attributed to few distributors who all sell their products at the same price. The customers’ bargaining power play a crucial role in determining the pressure they put on a particular market. According to the Five Forces Model, there are threats of substitute and services and they are moderately high. Free online streaming is another source of movie rentals. Websites such as Crackle.com and Hulu.com allow their users to watch movies online free of charge. Even though this provides a free alternative, there is a switching cost for the current Netflix users. Netflix customers can stream movies to their television sets through certain video game consoles. In the process of switching to the free online streaming, customers do not incur the monthly $7.99 fee. However, this only limits them to watch the movies on an internet accessible device (Kaplan 45). The threat of new entrants is the next force. This force can similarly be recognized to be moderately high. There are only a few barriers connected to the entry into the movie rental industry. The first barrier is the need to have the legal rights that will allow the company to supply copyrighted movies to its customers. This barrier seems tricky for a company entering the industry since it will hard for the company to overcome the barrier. Use of online services is another potential barrier to entry. With the current technological advancements, it will important for a new business to include online involvement. This point greatly emphasizes the threat of new companies entering the movie rental industry. With the option of free online streaming, a new web-based company will probably

The International Product Life Cycle Model Theory Economics Essay

The International Product Life Cycle Model Theory Economics Essay The intent of Vernon, International Product Life Cycle model (IPLC) was to advance trade theory beyond David Ricardos static framework of comparative advantages. In 1817, Ricardo came up with a simple economic experiment to explain the benefits to any country that was engaged in international trade even if it could produce all products at the lowest cost and would seem to have no need to trade with foreign partners. He showed that it was advantageous for a country with an absolute advantage in all product categories to trade and allows its work force to specialise in those categories with the highest added value. Vernon focused on the dynamics of comparative advantage and drew inspiration from the product life cycle to explain how trade patterns change over time. New products are manufactured, produced and consumed in the developed (inventing) countries. Then, other high-income countries import it. Production spreads to other advanced countries. The standardised product begins to be produced out of advanced countries into low-wage nation. Advanced countries import it from the low wage countries and Next generation product invented in the advanced countries. Globalisation- Business Environment The tremendous growth of international trade over the past several decades has been both a primary cause and effect of globalization. The volume of world trade since 1950 has increased twenty-fold from $320 billion to $6.8 trillion.1 This increase in the trade of manufactured goods exceeds the increase in the rate of the production of these goods by three times. As a result, consumers around the world now enjoy a broader selection of products than ever before. Additionally, a whole host of U.S. government agencies and international institutions has been established to help manage the ever-growing flow of goods, services, and capital. Although increased international trade has spurred tremendous economic growth across the globe raising incomes, creating jobs, reducing prices, and increasing workers earning power trade can also bring about certain kinds of economic, political, and social disruption. Because the global economy is so interconnected, when large economies suffer recessions, the effects are felt around the world. Trade decreases, and domestic jobs and businesses are lost. In the same way that globalization can be a boon for international trade; it can also have a crushing impact(www.globalization101.org) Offshoreing trend lower wages The shift of productive capacity from the advanced countries to poor countries can be viewed as a commonality of interest among advanced country business groups and Third World elites, who act in concert against workers both in the U. S. and in developing countries. It can also be viewed as a strategy to change the balance of power between Capital and Labour. By shifting production to jurisdictions which favour Capital, owners gain a larger share of revenue and power, while workers everywhere suffer Multinational enterprises (MNEs) had provided huge number of the employment in countries like Indonesian, Vietnam. It not only solves the countries unemployment rate furthermore it will increase the country GDP and lead to the industrialization process of the country by learning the technical know-hows and other industrial automation process. Countries Foreign Direct Investment (FDI) flow will increase; it will improve the exchange and currency rates .Good Employment opportunities directs to better living standard and high purchasing power. Nevertheless, the poor wages, Vietnam and low wage nations can welcome the offshore trend and implement the foreign policies accordingly. Over the last two decades, the advanced economies experienced a boom in off shoring and a doubling of imports of manufactured goods from low-wage countries. Over this same period, approximately 6 million jobs were lost in manufacturing and income inequality increased sharply.These parallel developments led many critics of globalisation to conclude that good manufacturing jobs were being shipped overseas at the expense of the domestic labour force, putting downward pressure on wages of American workers. Concern over these developments led the US Congress to pass the American Jobs Creation Act of 2004. Yet whether these changes in the US labour market are a result of rising import competition or relocation by multinationals to other countries (known as off shoring) is not clear. Paul Krugman (2008) claims that we will never know. He asks How can we quantify the actual effect of rising trade on wages?, and then answers: The answer, given the current state of the data, is that we cant. Yet Krugman suspects that the dramatic increase in manufactured imports from developing countries since the early 1990s has contributed to increasing income inequality. Earlier studies explained rising inequality as a result of technological change which favours skilled workers, a falling minimum wage, or weaker unions (Autor, Katz and Kearney 2008). Larry Katz and David Autor agree with Krugman, arguing that international trade and offshoring will be increasingly important rivers of wages in the future. Theoretically capital mobility should result in higher wages for workers in the developing world, but often it does not. An egregious example of this phenomenon is Nike, the sports shoe manufacturer. Nike makes shoes by contracting with producers in Asian countries. Aggressively seeking the lowest cost, Nike recently moved production from Korea to Indonesia, a military dictatorship which violently represses union activity. The shoes you pay $80 for in the United States are assembled by Indonesian women, working in squalid factories, who receive approximately twelve cents per pair http://home.home.pacbell.net/jfcowan) Benefits of relocating to poor countries For certain occupations there is a greater availability of highly skilled and experienced employees overseas for example manufacturing skills in china and Information technology, Bangalore, India. Cost advantage Companies can save 30-50% compared to the cost of a U.S.-based employee for the same level of performance, and of ten times the offshore employees are more committed, grateful for the work. By using an offshore employee, you eliminate the time you would normally spend on searching job boards, recruiting, interviewing, orientation, managing vacation time and absenteeism, career coaching, and managing employee morale and motivation. Employee issues can be time-consuming and can escalate into legal liabilities. Using offshore staff eliminates certain legal exposure to employment liabilities. Flexibility Unlike traditional employee relationships, off shoring eliminates hiring and termination costs, allowing companies to quickly expand and contract their overseas staff in accordance with business needs. Challenges and considerations Before deciding the relocation plant, the firm has to address the key challenges with respect to cultural, Tax policy, cost savings. Different cultures have different life styles, different attitudes toward conflict resolution and simply different ways of getting work done. Offshore outsourcing is a politically charged issue nowadays, for example the current US government has passed the bill against outsourcing. Expected cost savings might not result from offshore outsourcing. The offshore staff might not turn out to be as productive as expected. Quality of the product also matters for the firm Brand equity. Off shoring can lead to low production cost, if the firm can address all the above mentioned challenges. But, selling the large quantities of the new goods immediately in the poor and low wages countries are always uncertain and it is a risky process also. Every firm has their unique marketing plan and strategy of their products. But, in general poor countries Gross Domestic Product(GDP), Income per captia, and purchasing power of the consumers very less when compare with advanced countries like UK,USA,Germany,France.Canada. Selling a new product in the market requires lot of marketing research and sampling. Due to the uncertain market environment, political disability and consumer behaviour firms are finding difficulties in implementing marketing plan and strategies for the poor countries. In my opinion selling the new goods in the poor countries requires deep understanding of local market and consumer tastes. As per the WTO and ILO reports, more than 3.5 billion people are living in the poor countries. So, firms should understand the culture, life style, of the people to market and sell their products. The plant location and country alone cant decide the success of their products. Findings and recommendations Todays globalization and dynamic business environment has made Production life cycle Theory out of date. Global trade has increased significantly in the last 10- 15 years, thanks to the globalisation world but in the same time inequalities are also increasing. Shifting the production facility or off shoring the manufacturing jobs can increase the profit of the firm due to talent pool, low wages in the poor countries but to achieve this, it has to addresses the challenges of off shoring and draft the business strategies and plans effectively. But quality of the product /service and productivity are the major concern to be addresses by the off shore industry. GDP, income per captia, purchasing power, consumer behaviours are the major deciding factors for buying a new product in any part of the world. All poor countries above mentioned ratios are very less when compare to advanced countries .So launching a new product in poor countries is risky and uncertain even though the product is m anufactured in the same country. Firms should analyze the marketing plans strategy for the poor countries and apply in the poor counties with respect to the market and other demographic factors. Conclusion Globalisation phenomenon gaining across the globe. Trade and culture are exchanging rapidly, thaks, to the advance technology. Shifting the production jobs or off shoring the manufactured jobs has their own advantage and disadvantages. Off shoring has lot of benefits to their own or home country (capital abundant) and new host country (labour abundant) as well. in the same time it has to address the lot of issue in both host and home country with respect to culture, tax policy , environment and other factors. In the open market world firms have the rights to maximize the profits doing offshoreing if obey the terms and condition of the both own and host countries and it should be follow the framework of WTO and ILO

Distance Learning Essay -- Education Educating Learn Essays

Distance Learning missing works cited Definition and Description of Distance Education Distance education is any academic learning method that lets the teacher and the student participate and communicate in a convenient manner, while sometimes in different places and sometimes at different times. The distance education concept has allowed a diverse set of individuals to continue their education, whether it is for personal or professional satisfaction. The teacher is still able to create, design, and plan with goals and objectives, and the student is able to learn and experience through the distance (Davey, 1999). Another word that is associated with distance learning is multimedia. With the use of multimedia, the learning is literally at the "fingertips" of the teacher and the learner. The long distance allows the multimedia, or the use of video, audio, graphics, images, animation, and text, to let the teacher relay information from one location to the learner in a totally different location. This is a process to use when face-to-face interaction is not possible (H ancock, 1999). A summative definition of distance education is a system of instructional learning in which the student(s), in groups or singly, and the teacher are physically separated. The methods of learning takes place with technology consisting of various combinations of telecommunications, hardware and software (Ely; Foley; Freeman, & Scheel, 1995). This learning promotes change in both business and education. This change has its features, benefits and concerns in both fields, which will be discussed (Holloway, & Ohler, 1999). Business and Instructional Technology Side of Distance Education Inc. magazine reports that in the business and instru... ...mind (Hancock, 1999). Holloway and Ohler suggest to keep talking and reading literature about distance education. Other educational systems and organizations may be willing to share resources and technologies associated with distance education (1995). Also, the technologies need to associate to the learning environment. Blumenstyk, Goldie, and Kelly state that "institutions should not go overboard with technology, but to keep it in perspective as one aspect of a balanced educational philosophy" (1999). At this point, distance education is starting to become an outstanding use of learning in higher education. Distance education can be classified as an innovation that combines theory and implementation in "educational technology", better than other trends (Ely; Foley; Freeman, & Scheel, 1995). Distance education is part of out past, present, and future.

Jim Teague in Tanzania

Jim Outage, an MBA associate with a diploma in engineering, is hired for a summer internship in rural Africa to be an officer of a U. S- based social investment firm that is looking for an important agribusiness project in Africa. A small successful company in Tanzania â€Å"Cigarillo† is in the run for being financed by Agrarian. Upon his arrival in Tanzania, he is faced upon two issues: Cigarillo faces some major health-safety issues with the risks of spreading E-coli among the population.Another problem Jim Outage is facing is the fact that he does not know exactly whether the company that identified the potential contamination of E-coli found a real problem or is Just looking for a payoff as Baby is stipulating. The quandary Jims employer is subjecting too is either to withdraw their investment or Just ignore the allegations against the local company. This paper will identify the issues in the case, explain the legal issues and give some recommendations on how Jim Outage c an resolve these issues to save his company's reputation.Identify the major cultural differences and the resulting ethical, or legal challenges Jim Outage faced working at Cigarillo in Tanzania. Jim Outage faces some cultural differences when he went to Tanzania. The major cultural difference he encountered is the fact that people in Tanzania are easily variable. In the video â€Å"Spotlight on India and Mexico† both countries are attractive markets with low cost manufacturing bases, but they have high risks business environment. This is the case for Tanzania, the difference in culture makes it hard for foreign people to do business.First, when he first got to Tanzania, to find his apartment he had to give some money to the person who helped him find his apartment because he had some issues finding direction. That was the first cultural shock he encountered. Second, he was facing himself with some major ethical, or legal challenges in Tanzania different from what he encounter ed in the United States. When he was first arrested by the police officer he had no choice that to bribe a police officer who stopped him illegally without no Justifying reasons.Facing with making the decision of either spending the night in a Tanzania Jail or giving something to the police officer so he can leave in peace he offered the police officer the Cad's of Jim Reeves that belonged to Baby. When Baby mentioned that the Tanzania Certification Agency (TCL) had discovered traces of E-coli in Sourpuss's most popular product, Baby immediately assumed that it is a case of bribery because that is the legal environment in Tanzania. People are faced with constant bribery so it pertains on their ability to make a good Judgment of any situation they enter.The cultural differences Jim Outage encountered since his arrival in Tanzania blurred his ability to think critically. Jim Outage was sort of bribed by Baby and his wife. Since his arrival they treated him as a king and Baby even went head and offered him a car, and they invited him all the time for a meal. In Tanzania, they treat business partners as family members. As the case with Jim Outage, Baby and mama treated him as he was their son and even took the liberty to ask Jim to marry a woman from â€Å"Tanzania† called â€Å"shaggy woman† (p. 3). How did Jim Outage get into the difficulty in which he finds himself?Does he bear some responsibility for his predicament? There are many reasons why Jim Outage found was supposed to. He was blurred by everything Baby and Mama offered him. By doing that, Baby was making sure Jim Outage was closed to him. So when he explained him the situation about the company that discovered E. Coli, Jim Tease's opinion was already biased because he was forced to think as a local citizen will think. He put himself in this situation because he felt for what Baby and Mama did for him. They were only business partners, he should have kept some boundaries and do his Job the way he was supposed to.He believed what Baby told him about the TCL without making his own research first. In addition, when they went to the farm, he decided not to talk about his impressions and findings to Baby knowing the risk the farmers where taking by using cow manure. The fact that Jim Outage is inexperienced also played some responsibility for this difficulty he encountered. He was not prepared enough for the problems facing the society in Tanzania. What encouraged Jim to pay off the police? Do Stagehand's â€Å"five rules† suggest methods Jim could have used to avoid paying bribes?Jim a couple of days after coming to Tanzania found himself in a complicated situation with a police officer who arrested him illegally. He decided to pay off the police officer with the Cad's of Jim Reeves belonging to Baby. Jim was encourages to pay off the police officer because he did not want to go to Jail. It was either paying off the officer or go into the pain of being locked up f or something he did not do. He did not think about it twice while he was giving the CD because his decision was the most rational decision at the time. He could have avoided bribery by using Stagehand's â€Å"five rules† to avoid bribery.The first rule according to Eastland is to never assume that you have to give bribe. In Jims case, he did not try to negotiate with the office; he directly assumed that the police officer wanted something in return of his freedom that is why he gave him the Cad's. The second rule is to â€Å"Just say no. According to the author even if asked people have to resist the urge to bribe by Just saying no. Jim could have explained to the officer that he was new in the city and he did not intend to violate rules while driving and assume the consequences of his act.The third rule is to look for legal and ethical ways to meet the person needs without bribing. Eastland gives three examples of ways to do that: offer an expense paid visit to the home cou ntry or offer training course in home country, make an accommodate donation, and finally do something personal for the person. In Jims case knowing that the officer arrested him illegally thou no reason he could have done him a favor by doing something personal for the officer such as invite him to the restaurant if he let him go or offer him a pass for an event.The fourth rule is to find some creative ways to attend your goals without jeopardizing your integrity. Jim Outage could have found some ways not to bribe the officer by using his head. The fifth rule is to know the culture of the country in question. By knowing exactly how the Tanzania culture works, he could have avoided to give away Abs's CD and still get away without any problem. What action should Jim recommend to his U. S. Oppressor, Allen?In proposing a responsible solution, consider international standards for business practices, the varying impacts, determine the economic outcomes, consider the legal requirements, a nd evaluate ethical obligations. How would you communicate your decision to Baby? Business practices, the impacts his decisions will have, determine the economic outcomes, consider the legal requirements, and evaluate ethical obligations. Jim should tell the truth no matter what to his U. S. Supervisor. He should make a decision based on the facts and those facts state that Cigarillo flour is contaminate.In addition, he saw some additional proofs even though that could explain the E. Coli contamination by the use of cow manure. He needs to weigh both situations and decide which one will make the most arm. He has the choice of letting go of the situation and act as if the Tanzania company Just want a bribe or say â€Å"no† which will make a big impact on the population in Tanzania. DRY states companies should take into account the micro-risks they will face in a given company such as systemic, procedural, distributive, and catastrophic (p. 107). In this case, the procedural po litical risk is the one related to Tanzania.Countries transactions or authorizations to do something important in a given country could be stopped by political actions, public fraud or a partisan Judicial system. Jim should take into considerations the micro issues while talking with his supervisor. That will help him elucidate the problem because he is the one in the country; he understands better the culture now that he lives there. The video â€Å"the new global challengers† explains that internationally active firms create Jobs thereby create increasing the living standards of the population concerned. Tanzania is considered as an emerging market.According to the video, merging markets are characterized by inadequate infrastructures, underdeveloped legal system, and high risks business environments. This is exactly what Tanzania is going through. Knowing those issues will help Jim determine the best solution. In this case, a negative answer will be more beneficial and mor e economic because the company will save money by not investing on a business that is doomed to failure in the long run. Even if they decide to ignore the allegations against Cigarillo, they will still pay the price if people find that such a reputable company such as Agrarian was implicated in such allegations.This will completely mess up their reputation. Jim should recommend not toggle the loan to Cigarillo no matter what will happen to his relationships with Baby. This is for his best interest. The ethical obligations force him to tell exactly what is going on by being neutral without taken any side. That meaner explaining the use of cow manure while making the flour and take into account the content of the report even though Baby thinks the company is Just looking to be bribed. Jim should communicate his decision to Baby by explaining him the danger that E. Coli will have on the customers.Baby should understand that ensuing the loan ill have a big impact and endanger the health of thousands of people and put Agrarian at risk. Henequen He should also explain that he has his hands tight and that he might get fired if he does not make the right decision. This technique might alleviate the anger Baby will have against Jim after telling him. Where would you go for guidance, either within or outside your company and organization. In the absence of guidance, what would you do? For guidance within the company I will ask my follow coworkers what they think of the situation, and what they think I should do.It's always good to know what other people think before acting. In Jims case, his friend's remark helped me realized that if he was in the United States he would have acted differently. In the absence of guidance, I will Just follow my instinct and do what is the loan will deprive hundreds of farmers their income. The right thing is this case seems to be going a â€Å"no† decision because it will have less effect than going with a â€Å"yes. † Brief ly outline the key components of an ethics or compliance program for a small-sized foreign company that would provide guidance on the types of issues Jim faced at Cigarillo.Effective compliance programs fits exactly the specific business ND the risks associated with the business in question. 1. Develop open lines of communication. For a compliance program to be effective, the most important element is that employees feel comfortable asking questions and reporting possible violations. * Establish an open-door policy for the compliance official or committee and the highest level of on-site management to receive employee reports. * Guarantee that there will be no retaliation against employees who make good-faith reports of misconduct. Provide an anonymous suggestion box, which may induce some employees to report problems. 2. Identify the risks. Management must first ferret out risks that the company faces, so the right factors can be monitored, audited and evaluated. A wide range of po tential risks should be considered, including: Environmental risks (clean air and water, hazardous waste disposal, transportation of hazardous materials, etc. ) * Health and safety * Money laundering, especially when involved with foreign entities 3. Establish standards and procedures.Some fundamental standards and procedures should be included in any organization's compliance program. For example, every business should: * Adhere to a record retention policy. Perform background screening of potential employees. * Develop forms to address recurring issues, so that incidents are recorded fully and consistently. 4. Designate a compliance official or committee. Every compliance program must be overseen by an individual or committee that has ultimate accountability. These duties might include: * Overseeing and monitoring the implementation of the compliance program. Establishing methods to improve quality of service and reduce vulnerability to fraud and abuse.