Bsbmkg502b †establish and adjust the marketing mix Essay

Assessment Task 1 – Work Based Knowledge Test 1. What are the characteristics of the products and/or services in your business? Ans. I am working in . We are selling burgers as well as fries and soft drinks. But recently we start selling frozen coke and ice cream, which Mc d was selling and now we are making good money. 2. How do these products and/or services relate to the market they are in, and to the immediate competitors? Ans. We have many competitors in market but Mc d is our biggest competitors because they are selling same product what we are selling. 3. How would you determine the effect of pricing variables on demand? Ans. It is depend on main four factor place, price, product and promotions. 4. What promotional Methods and channels of distribution would you use to obtain the marketing outcomes established in your business? Ans. At the movement we are using electronic media more than paper media. Customers can use our iphone app and they will get something free. 5. Describe the channels of distribution that you would use to ensure greater market penetration? Explain how you would develop a pricing strategy for these products/services Ans. For greater market penetration, I shall not only market through the advertisement I will also take help from marketing agencies who can promote my business on a larger scale. 6. Explain how you would develop a pricing strategy for these products/services If product is sold at the lowest price regarding all my competitors, we practice competitive pricing. Sometimes, competitive pricing is essential. For instance, when the products are basically the same, we use this strategy The success of competitive pricing strategy depends on achieving high volume and low costs. If prices are lower than costs, we are going straight to bankruptcy! To avoid such a mistake, we take notice of the break even ratio. -Cost-plus-profit: It means that add the profit need to cost. It is also called cost-orientated strategy and is mainly used by the  big contractor of public works. The authority may have access to the costing data and should like to check if the profit added to the cost is not too high. In fact, this strategy is only good for a business who’s the customers is public collectivities or government agencies. -Value pricing: It means that base the prices on the value we deliver to customers. For example, when a new technology has a very large success, you can charge high prices to the customer. This practice is also called skimming. It is easy when you are in the introductory phase of the product life cycle. Value pricing is also common in luxury items. Sometimes, the higher the price, the more you sell. 7. Identify and analyse the level of customer service that you would pursue relevant to the products/services associated with your business. Ans. First of all, personal presentation, although not necessarily a key factor of customer service, is however critical. It is imperative that one is open and honest with the customers. It is therefore imperative that employees employed to promote the product are not paid on commission but rather at an hourly rate. This ensures more honesty and less pushiness, and less aggressive sales ‘tactics’. 8. Describe your target market in terms of demographic, psychographic, and behavioural variables. Ans. Psychographic / Behavioral variables– Psychographic variables refer to any attribute relating to personality, lifestyle, values, interests or attitudes. These factors consider various influences on a person’s buying behavior. Different lifestyle choices like parenting, exercise decisions, religion, marriage or health can greatly affect a person’s requirements or preferences for certain products or service. People have different lifestyle patterns and behavior could change as people pass through different stages in life. On the other hand, a consumer’s opinions, interests or hobbies will have a huge impact on the products or services they will choose to buy. Demographic – are the statistical characteristics of a population As the prices of our store products are comparable with other convenience stores, it is not a good idea to open a deli store in may lands. So from my point of view it would be  great to open a store near to bays water as there is no shop near to that place 9. Describe how each component of the marketing mix interrelates to the target market? Ans. Marketing mix is a mixture of 4 variables; product, price, place and promotion. These variables make up the core marketing strategy as they help to define the marketing environment in which they operate. Product: Focusing on meeting the customer’s needs. A good product makes its marketing by itself because it gives benefits to the customer. Design, packaging and the safety and the green a friendly product to environment gets an advantage among some segments. Price  The price should not be above or below the price of other retailers, as this would not suit the needs of the target market. Promotion Promotion strategies will be focused to the target market segment. Given the importance of word-of-mouth/referrals among the areas resident. We shall strive to service all our customers to gain their business regularly, which is the recipe for our long-term success. We shall focus on direct resident marketing, publicity, trial food demonstrations, and advertising as proposed. Place Channels of distribution include †¢ Distributing Pamphlets †¢ Build up stalls in big mall or outside of it †¢ Adding advertisement on local newspaper or channels †¢ Use of social sites (internet as well) 10. What environmental factors will affect the marketing mix in your business Ans. Environmental factors that can affect the marketing mix in any business include cultural factors, technological factors, demographic factors, government factors and economic factors. 11. How do customer priorities, needs, and preferences impact on your marketing mix components? Ans. The Target Market in which our store aims to sell to, is everyone The customer’s needs, priorities and preferences influence the marketing mix compentants such that price should not be more or less than the recommended retail price. Channels of distribution include stores such as word of mouth, Advertisement and also pamphlets and internet as well. Design what you consider is the most appropriate marketing mix to satisfy the target market and meets the marketing objectives? For appropriate marketing we need to consider four keys Product, promotion, price and place Product:- It is a tangible good or an intangible service that is mass produced or manufactured on a large scale with a specific volume of units. Promotion: – represents all of the communications that a marketer may use in the marketplace. Promotion has four distinct elements: advertising, public relations, personal selling and sales promotion. Price: – The price is the amount a customer pays for the product. The business may increase or decrease the price of product if other stores have the same product. Place: –  Represents the location where a product can be purchased. It is often referred to as the distribution channel. It can include any physical store as well as virtual stores on the Internet   12. What do you consider is the most appropriate marketing mix to satisfy the target markets and meets the marketing objectives? Ans. Convenience stores are currently in the planning stage resources are limited. Currently we have received a $10000 grant from the government to get started. To ensure the marketing mix decisions meet the company’s strategic and operational objectives, I shall ensure the scarce resources are allocated as follows; Website Design $1500 Web- hosting $45.00 Other Web Costs $150.00 Stock including some Samples $20000 Business Cards $99 Shop Leasing Start-up Costs (Rent and Bond) $1150 13. Explain how you would monitor the marketing mix against marketing performance and isolate components for testing. Ans. As the marketing mix is comprised of 4 components, that is, price, promotion, place and product, to isolate each of these components for testing, that is, to test each component and its marketing particular performance, one must do simply that; isolate each component for testing. To isolate each component for testing, and monitor the marketing mix, for marketing performance, I should first establish or seek to research some benchmarks for sales. It would be easy to test the effectiveness of place, of product and of promotion, but to test price would be somewhat difficult if it were not for industry benchmarks that establish the sales benchmarks. 14. How would you evaluate the implication of altering one or more components of your marketing mix in relation to marketing factors and consumer response Ans. I evaluate that altering one or more component of the marketing mix in relation to factors or consumer response would be effective; however, I do feel that only the price component would need to be altered in response to consumers. I do feel that I have a solid marketing strategy. 15. Describe the process you would use to adjust the components of the marketing mix in response to test results and evaluation of market response. Ans. The process I would use, to adjust the components of the marketing mix, in response to test results and in response to the market response is as follows I would adjust the price to below recommended retail price and only in such a way as to reach sales benchmarks of my competitors and meet the prices of my competitors, as after all the majority of the profit is donated to worthy causes. 16. Explain how you would ensure that the adjusted marketing mix would meet budgetary requirements. Ans. If I were to adjust my price to meet the benchmarks and prices of my competitors I would like to assume there would  also be an increase in the number of sales. I am however aware this is merely an assumption. 17. What procedures would you use to ensure that the adjusted marketing mix continued to meet organisational, strategic and operational marketing objectives, and desired positioning? Ans. Procedures I would you use to ensure the adjusted marketing mix continued to meet organisational, strategic and operational marketing objectives, and desired positioning include; Adjusted price – I would need to continuously monitor sales and profit benchmarks and speak to an accountant in order to ensure that my business is still an effective profitable business.

Hart and Positivism Essay

According to Hart law consists of primary and secondary rules. The primary rules are the rules that are â€Å"rules of obligation.† (Hart. Pg 204) This means that primary rules are rules that obligate a person to do something or to not do something. For example, the first Amendment, â€Å"Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceable to assemble, and to petition the Government for a redress of grievances.† (http://www.usconstitution.net/const.html#Am1) The first Amendment is an example of a primary rule because it directly affects the people of the United States of America by allowing them to have the freedom of religion, press and expression. This is an example of obligating a person not to do something, which means that the person is not obligated to have any other religion other than their own, for example. The second part of law is the secondary rules. Secondary rules only affect primary rules. This means that a secondary rule can help clarify, alter, eliminate, bring into effect, verify or determine whether a primary rule has been broken. For example the only reason we have the first amendment of the United States Constitution is because of Article 5 of the U.S. Constitution which states, The Congress, whenever two thirds of both Houses shall deem it necessary, shall propose Amendments to this Constitution, or, on the Application of the Legislatures of two thirds of the several States, shall call a Convention for proposing Amendments, which, in either Case, shall be valid to all Intents and Purposes, as part of this Constitution, when ratified by the Legislatures of three fourths of the several States, or by Conventions in three fourths thereof, as the one or the other Mode of Ratification may be proposed by the Congress; Provided that no Amendment which may be made prior to the Year One thousand eight hundred and eight shall in any Manner affect the first and fourth Clauses in the Ninth Section of the first Article; and that no State, without its Consent, shall be deprived of its equal Suffrage in the Senate. (http://www.usconstitution.net/xconst_A5.html) Article 5 of the constitution is a perfect example of a secondary rule (in this case a â€Å"rule of change†) because it allows one to see exactly how a secondary rule affects a primary rule. With Article 5 of the Constitution, the United States is capable of applying amendments to the constitution (or otherwise known â€Å"the Law of the Land†) of the United States. Article 5 of the constitution is an example of a secondary rule classified as a â€Å"rule of change† as stated by Hart. A â€Å"rule of change† allows an office or officials to be able to implement new primary rules so as to be able to adapt to the changing of times and the constant creation of new situations. The â€Å"rule of change† simply allows the system to be able to adapt to their society and not allow the primary rules to go static. To become a law there are two parts that need to happen, according to Hart. First there needs to be the initiation of a primary rule statute by a delegated official or office in power. Once the primary rule is made a secondary rule, the rule of recognition, is enacted. The rule of recognition simply allows private persons and officials the ability to be able to identify the primary rules of obligation. This secondary rule conclusively identifies the primary rules of obligation so as not to be confused as to what are the obligations the primary rule bestows. To have primary rules of obligation and secondary rules of recognition, there needs to be an office or official to be able to adjudicate these rules. To be able to adjudicate these rules there would need to be an additional secondary rule of adjudication. This would allow a judge to be able to determine whether or not the primary rule has been broken. Within the rule of adjudication there would also be rules on the roles of the judge as well as identifying who are to be the judges. With the rule of adjudication there is no question of whether or not a law has been broken and this solidifies the primary rule of obligation. With the ideas of Hart this shows that laws and morality can be separable, but they are not necessarily separated. It is possible to have a separation between low and morality by having some sort of primary rule that would state â€Å"no one rule will introduce the morals or characters of others into the legal system.† It is also possible though for an official delegate to implement a primary rule into the legal system and have it backed by a secondary rule of recognition. Having the secondary rule of recognition would potentially make the morality based primary law a valid legal law. In Hart’s idea morality and law are â€Å"separable†, in the meaning that they are capable of being separated, but they are in no way impossible to be able to be combined in law. Without there being a way to identify morality and making it a subordinate to statute, there can’t be a definite separation with Harts theory. Work Cited 1. Reading in the Philosophy of Law (pg 202-207) 2. www.usconstitution.net (1st Amendment, Article 5 of the Constitution)

Health Care Workers Needlestick Injuries Health And Social Care Essay

A needlestick hurt is a transdermal piercing lesion typically set by a hollow-borne acerate leaf or crisp instrument, including, but non limited to, acerate leafs, lancets, scalpels, and contaminated broken glass. This type of hurt can happen at the clip people use, disassemble, or dispose of acerate leafs. In the health care work topographic point, needlestick hurt has become a major concern to wellness attention workers in the decennaries. The Centers for Disease Control estimates that, in the United States, about 600,000 to one million needlestick hurts occur each twelvemonth. Unfortunately, about half of these needlestick hurts go unreported ( CDC, 2007 ) . In Canada, hurts from needlesticks and other sharps remain a major concern in the healthcare field with the figure around 70,000 per twelvemonth, or norm of 192 per twenty-four hours. [ 2 ] Health attention worker exposures to bloodborne pathogens as a consequence of hurts caused by acerate leafs and other crisp devices are a important societal concern these yearss. The bloodborne pathogens related to needlestick hurt are more than 30 species including human immunodeficiency virus ( HIV ) , hepatitis B virus ( HBV ) , and hepatitis C virus ( HCV ) and others. Needlestick hurts expose workers to bloodborne pathogens that can do infection such as AIDS, hepatitis B, hepatitis C and so on. The first instance of occupationally acquired human immunodeficiency virus ( HIV ) infection was reported in 1984 and highlighted the hazard of occupational exposure to HIV and hepatitis. [ 3 ] Center for Disease Control and Prevention reported that over 1400 wellness attention worker infection to Hepatitis B occurred due to needlestick hurts In 1993. [ 4 ] To minimise the hazard of occupational exposure to the bloodborne pathogens through transdermal hurts, the US federal statute law has been acted with the beginning of OSHA Bloodboren Pathogens criterion in 1991 [ 5 ] and culminating in the Needlestick Safety and Prevention Act of 2000 [ 6 ] . From the ordinance, the cardinal constituent is the usage of safety-engineered devices, which are medical sharps that have been designed to include safety characteristics or mechanisms, including design characteristics to extinguish the crisp wholly, to extinguish or minimise the hazard of hurt to the user or others. [ 7 ] Pugliese found that about 80 % of sharps hurts are preventable through either a procedural alteration or the debut of a safety device. [ 8 ] During the past decennary, the Occupational Safety and Health Administration ( OSHA ) of the U.S. Department of Labor has led authorities attempts to diminish the hazard of exposure through needlestick hurts. [ 3 ] The US Occupational Safety and Health Agency monitors the usage of acerate leafs and sharps and mandates the usage and rating of inactive safety systems for sharps without respect to cost. Contrary to the United States, Canada'sA occupational safety and wellness plans are organized and administered at the provincial degree. In Alberta, the authorities had passed ordinances to include demands for the usage of safety-engineered devices to cut down sharps hurts and exposure to blood and organic structure fluids in November 2003 which set criterions for protecting the wellness and safety of workers. ( OHS Code )C. Study Design and MethodsDatabase from infirmaries ( see Appendix A ) comparison before and after the SEN, underreport [ 9 ] and interview with RN E. Study Population – ( Gender and Minority Inclusions ) : 1. Describe the features of the capable population, include the awaited figure of normal voluntaries, age scopes, sex, cultural background, and wellness position. Identify the standards for inclusion or exclusion ( particularly adult females and/or minorities ) . Explain the principle for the usage of particular categories of topics, such as foetuss, pregnant adult females, or others who are likely to be vulnerable, particularly those whose ability to give voluntary informed consent may be questionable.F. Plan of Statistical Analysis1. Analysiss will be performed utilizing Microsoft Access, Excel and State 10 package. 2. Describe plans for enlisting of topics and the consent processs to be followed ; including the fortunes under which consent will be sought and obtained, who will seek it, who will give degree CelsiusG. Ethical IssuesAll research will be conducted following verbal and written consent of the participants. Approval will be obtained by the University of Alberta research moralss board ( REB ) prior to the beginning of the survey.H. Timetable:Completion of proposal for research February 31, 2010 Completion of questionnaire April 31, 2010 Edmonton Part July-August, 2010 Data Import and Analysis Septemper 31, 2010 Writing Up November 31, 2010I. References & A ; Literature CitedAppendix A: Edmonton infirmaries information University of Alberta Hospital 8440 – 112 Street, Edmonton Ph 780-407-8822 Medical Education Office 1F1.08 WMC Ph 407-7455 Royal Alexandra Hospital 10240 – Kingsway Avenue, Edmonton Ph 780-735-4111 Medical Education Office Room 1108H Ph 735-5239 Alberta Hospital Edmonton 17480 Fort Road, Edmonton Ph 780-472-5555 Cross Cancer Institute 11560 University Avenue, Edmonton Ph 780-432-8771 Edmonton General Continuing Care 11111 – Jasper Avenue, Edmonton Ph 780-482-8111 Glenrose Rehabilitation Hospital 10230 – 111 Avenue, Edmonton Ph 780-735-7999 Grey Nuns Community Hospital and Health Centre 1100 Youville Drive W, Edmonton Ph 780-735-7000 Medical Education Office Room 1712 Ph 780-735-7434 Misericordia Community Hospital and Health Centre 16940 – 87 Avenue, Edmonton Ph 780-735-5611 Medical Education Office Room 1N98 Ph 780-735-2991 Northeast Community Health Centre 14007 – 50 Street, Edmonton Ph 780-472-5000 Queen Elizabeth II Hospital 10409 – 98 Street, Grande Prairie Ph 780-538-7100 Red Deer Regional Hospital Centre 3942 – 50 A Avenue, Red Deer Ph 403-343-4422 Stollery Children ‘s Hospital Administrative Offices 4H2.36 WMC 8440 – 112 Street, Edmonton Ph 780-407-8655 Sturgeon Community Hospital and Heath Centre 201 Boudreau Road, St Albert Ph 780-418-8200OCCUPATIONAL HEALTH, SAFETY & A ; WELLNESS ( OHS & A ; W )Report all blood/body fluid and needle stick exposures to: RAH/UAH/SCH/GRH/LCH/FSHC/RHC/WHC/DGH – Alberta Health Services LINK at 780-401-2669. MIS/Caritas – 780-735-2806 GNH/Caritas – 780-735-7310

Statement of Purpose Essay Example | Topics and Well Written Essays - 1000 words

Statement of Purpose - Essay Example So, I always loved to work for international organizations that deal with various social and humanitarian issues. So, after graduating from the Yerevan State University, Faculty of Romance and Germanic Philosophy, I worked in several international organizations in Armenia for six long years. As I got my graduation in English with French as the Minor, I found it easy to work in international organizations because communication had become an easy task for me through my graduation. As I continued my service in humanitarian international organizations, I won the Green Card Lottery, and as a result, I reached California. On reaching the US, I continued my social work. Then, I realized the fact that in order to serve the society better, I need to understand more about the psychology of various people. So, I entered the Mental Health Community Development Institute in Glendale for short-term career training in Social and Human Services. As a part of the study, I learnt more about Autism Spe ctrum Disorder and various other developmental disabilities and case management. There I became more aware about the fact that in order to serve the society better, I have to further deepen my knowledge in various psychological disorders and their management. Furthermore, as a part of the internship, I worked among victims of substance abuse in various rehabilitation centers. Also, I had to work among children with developmental disabilities. Admittedly, these experiences were an eye opener in my life. They made me realize that my knowledge and skills in handling the social issues are very limited, and that in order to sharpen my abilities, what I need is better understanding of the psychological aspects of the issues under consideration. Thus, my interest in society, humanitarian services, and psychological aspects, is nothing new, but has been with me as an innate inspiration since long. It was this desire that made me reach the humanitarian service sphere, and it is this interest that still keeps me firm in the same field. So, now, I have decided to learn more about psychology, and for that purpose, the best possible way for me is to pursue a postgraduate course in psychology. Then, I started my search for a good university that will best meet my needs and that can best horn my skills. As a result of the search, I reached the California State University, Los Angeles. Evidently, the University is one of the best places of education according to various rankings. According to the U.S News Best College Rankings, the University ranks 45th in rehabilitation counseling, and 60th in social work. In addition, the 2012 University Web Ranking by 4 International Colleges and University considers California State University, Los Angeles as the 27th best place for education in the U.S . It becomes evident that the College of Natural and Social Sciences at the California State University, Los Angeles, has an award winning array of faculty to teach the students. That mean s, the ones who join the university will be getting the very best and the very latest from the excellent education available at the university. Another point that attracts me towards the university is the excellent mixture of education and entertainment at the university. As it becomes evident from the history of the university, it takes into consideration both curricular and extracurricular development of the students. As a part of this, the university offers a large number of

Google and Competitors Essay Example | Topics and Well Written Essays - 750 words

Google and Competitors - Essay Example Working with a mission 'to organize the world's information and make it universally accessible and useful', the expert team of Google community diligently maintains an index of websites and other content, which can be searched by anyone having an internet connection. Though Google is known mainly for it search engine, but there are a number of other services like Google mail, Google Earth, Google News, Google Finance etc. being offered to the net-community. The concept came up in the mid-nineties when Stanford university graduate students Sergey Brin and Larry Page stuck upon the idea of providing a search engine which could return relevant information without wasting much time. Though there are a number of players in the fray giving competition to Google, but the key competitors of Google include Yahoo and MSN. Yahoo is mainly devoted on the search engines besides having the stake in other services as well. But for MSN, the primary focus area is the software development and of cours e. But the difference in the strength and popularity of Google and its nearest rival Yahoo can be gauged from the fact that during the fiscal year ended December 2006, while Google recorded revenues of $10,604.9 million, Yahoo could mop up about $6,425.7 million. Goog (Datamonitor, 2008a). Google is considered a leader in search engine technology offering search results in 158 domains and more than 100 languages (Datamonitor, 2007). The strength lies in its innovative format and the speed with which it comes out with relevant topics. As per the figures given out by Datamonitor (2007), in March 2007, Google sites captured 48.3% of the US search market, while the corresponding figures for Yahoo stand at 27.5%. Some of the key strong areas of Google include; Strong Market position: Google far outnumbers its rivals as far as popularity of its search engine is concerned. Well established brand identity: Brand identity forms a key strength in today's context, where visibility in media and easy identification features help in propagating the business prospects of the company. It is indeed quite surprising that Google, basically a service providing company, has even overtaken many well established product identity companies like, Microsoft, GE, Coca-Cola, Wal-Mart, IBM etc. According to Miillward Brown's 2007 ranking of brands2, Google is the topmost brand with a brand value of $m 66,434. Google has worked on its brand quite consistently is apparent from the fact that the brand value has undergone a change of about 77% from the previous years. On the other hand Yahoo ranks a distant 42nd with a brand value of $m13,201, registering a decline of 6% in its brand value. According to market research firm Miillward Brown, Google is the world's top ranked brand, overtaking Microsoft and some other wellestablished brands like General Electric Company, Coca-Cola, Wal-Mart Stores and IBM. Proprietary technology and technological infrastructures: The search engine technology of Google has indeed provided the company an edge over its rivals. Based on its proprietary PageRank technology, the search engine is having the largest searchable index amongst all (Datamonitor, 2007) AdWords and AdSense programs: Google works up its online advertising programs with the help of its unique concept of AdWords and AdSens

Marketing Paper Essay Example | Topics and Well Written Essays - 500 words - 1

Marketing Paper - Essay Example This historical prospect aids the affiliation to identify and outline operational capabilities in an orderly fashion that creates space for enhancement of links and the identification of prospects for new efforts. These mappings can direct the firm to new prospects and identify technological limitations. Cumulative plans for specific projects provide another resolution. Instead of viewing each merchandise development prospect singly, they consider overtly all of the new merchandise development prospects under critical consideration by the affiliation. This is specifically pertinent in affiliations with numerous new merchandise development prospects simultaneously. Moreover, merchandise are grouped according to resources needed and contribution to the affiliation’s bottom-line (Hausler). Aggregate prospect arrangements aid the management to enhance the administration of new merchandise development by offering greater manning over the resource disbursement and use (Hausler). The prospects aid the affiliation’s management to identify where capabilities require improvement and how arranging projects may aid the affiliation, among showing the firm how the specific projects fit into its development prospects. Moreover, return mappings graphically represent the contributions of every team members to merchandise affluence in based on the time factor and available finances. Furthermore, their concentration is on the basis at which merchandise sales elicit adequate returns so that the affiliation’s initial business prospect in the enhancement is ensuing. In accomplishing this, the return mappings display the implication of their activities on the prospects general affluence (Hausler). Additionally, another mode of enhancing the speed and efficacy with which the new merchandise are inducted is to practice buying in the development process. Moreover, when purchasing

Babcock marine case study Assignment Example | Topics and Well Written Essays - 2250 words

Babcock marine case study - Assignment Example Being the largest warships that the UK has ever commissioned, they are to be built like a giant Lego model and have individual blocks being built at the six shipyards surrounding UK that is before they are transported to Babcock’s Rosyth facility for the final assemble and its integration. If you happen to be in the military or a commercial sea-faring craft, there is an open door for you. A division of the Babcock International, the company provides a wide range of design, support and building services which are inclusive of upgrading, conversion, refitting and maintenance (Brown, 2003). It also offers engineering, as well as, support services to the royal navy. Most of its customers include the government of Canada, New Zealand and Canada. The marine designs the fast ferries, specialist crafts and paramilitary vessels to customers globally. In addition, it offers the water jet propulsion for commercial and military applications, landing craft, workboats, special operations cr afts, design of excluded light in alloy planking in small ship construction and other commercial vessels. Close to that is the ability of the company to provide all spares of procurement services. It supports the third party operators and also the private owners. SWOT analysis Strengths and opportunities The two largest aspects that give the company a reason for existence is the energy and the marine technology. Babcock has provided a platform for the design, integration and also management services in the marine, oil and gas and also in the defense sectors globally. Privileged to have more than 900 engineers and technical support staff, they also have inspired delivery record, proven design and management expertise, focused leadership, it is able to support all its customers on each and every aspect, including the concept of design and modification through the life management together with a safe and environmentally friendly disposal (Kim, 2005). It is the leading UK Engineering su pport services Company, and it is trusted to deliver serious support to the government along with key industry organizations within the globe. The company has proven track record as being the UK’s leader in naval support business that provides its customers with surety and huge confidence regarding its ability to safely and carefully manage and operate some of the countries most core assets together with providence of through-life support in complex programs of national significance (Brown, 2003). Further the submarine partner in the royal navy, the company is the only provider of deep maintenance, infrastructure support and in-service maintenance. The strength of its long term relationship has been portrayed in its involvement in the current and future programmes. It has unique facilities and infrastructure that has enabled the company to undertake about 75% of the UK surface refit refits and also about 50% of fleet maintenance. Managing and also operating two of the three U K naval bases, has enabled Babcock to work successfully with the ministry of Defense over the last ten years and hence delivering considerable cost reductions and further service improvements as part of successful partnering relationship with the Royal Navy and Ministry of Defense. It has unique naval infrastructure across the UK which support complex engineering programmes and at the same time increasing the availability of the customer’

Employment law 3 Assignment Example | Topics and Well Written Essays - 500 words

Employment law 3 - Assignment Example Karen files a complaint of sex/gender discrimination with the EEOC and Harrison is called to testify during the investigation. The EEOC decides not to pursue the matter. A month and a half after the investigation is closed, Tabernacle management moves Harrison from his cubicle to a cubicle on a vacant floor. All other aspects of his job remain the same. Harrison files a complaint of retaliation.   A.   Harrison cannot pursue a case of retaliation because the relocation of his work area between cubicles did not materially affect the terms, conditions, or privileges of his employment at Tabernacle. 10. Randi has been placed by a staffing firm in a temporary secretarial position with USD Industries. Randi is an employee solely by the staffing firm. The day after she reports, USD calls the staffing firm and requests that she be replaced due to her race. 11. In order to win a â€Å"quid pro quo† case, but not a â€Å"hostile work environment† case of sexual harassment, plaintiff must prove that some psychological injury resulted from the harassment. (F) 12. Maxwell Corp. distinguishes between applicants that it is willing to interview for any position, and those that it is not, on the degree to which an applicants handwriting is determined, by a qualified graphologist, to indicate high emotional stability and ambition. On the basis of this test, 70% of male applicants are deemed interviewable, while 45% of female applicants are deemed interviewable. The use of the handwriting analysis as a distinguishing factor has a disparate impact on women. (T) 15. Chip Onsholder is a welder for Mac’s Machine Tools. He cannot seem to please his new boss, Ms. Perfection. He suspects she doesn’t like him because she’s a liberal Democrat, and he’s a rock-ribbed Republican. One day, Chip makes a joke about the stupidity of donkeys and she fires him. When Chip sues for discrimination under Title 7, he will probably: 16.

Business Decision Making Assignment Example | Topics and Well Written Essays - 1500 words

Business Decision Making - Assignment Example The recommendations made by the respondents will also be considered along with the recommendations of the final report. Research Methodology The research methodology to be incorporated in the report is primary research. Secondary research methodology refers to the methodology that focuses on collecting data from already existing resources. Secondary data can be collected from online sources or from published sources. Secondary data can also be collected from government or organization sources. Now a day’s secondary research methodology is popular among the researchers because the internet provides data from all parts of the world on the desktop (Driscoll, 2011, p. 3). The researchers can gain large amount of data from reliable sources of the internet and thus can gain data in much less time than compared to gathering data from physical libraries. The researchers can use the cost cutting to enhance the scope of the research in future. The data collected from the peer reviewed j ournals provide authenticated data. The researchers do not need to appoint external associate to collect data as theses are readily available over the net. Therefore secondary research is extremely popular among researchers as it has got some advantages over the primary method of data collection in terms of cost or time (Hox and Boeije, 2007). Primary research methodology In order to form current information to be the basis of research, it is important to incorporate methodologies like primary research. Primary research is created through the development of questionnaires that can be both structured as well as unstructured. The structured questionnaire is closed ended questions. The structured questionnaire is based on interviews on an existing set of alternatives. The open ended questions like to gather data through open views of the respondents (Reja, U. Et. Al.,2003). Both types of questions can be sent through mail to the respondents. The researchers can also appoint external au thorities to conduct direct interviews. The respondents are selected in the form of framing the target population into groups and then selecting the respondents from that group with the probabilistic or the non probabilistic methods. In this assignment two groups are selected namely the staffs of the restaurant and the students of the university. They have further been categorised into different age groups namely 18-24, 25-30 and 30+. On the basis of two categories the respondent groups the sampling method into Stratified Sampling method where 25 of the respondents have been selected from many respondents (University of Alberta, n.d). Herein for conducting the research, 25 respondents have been chosen from the categories in order to provide recommendation to the restaurant authority. Further types of questions that can be constructed for the purpose are qualitative as well as quantitative sets. The qualitative research tries to infer the impact of the behavioural parameters. Quantit ative research focuses in gaining inferences with the help of graphs and charts which can further be used for statistical modelling. Interviews conducted relating to the niche group of respondents contains both the students and the staffs. This is needful for the authorities to have a proper inference of the behaviour of the respondents from both perspectives. The researchers need to conduct the interview in unbiased fashion as biased data will lead to false information (Geer, n.d.). This is expected to

Plato - Epistemology Essay Example for Free

Plato Epistemology Essay ? Plato was born in Athens in 428/27 BCE, one year after death of Pericles. ? His father traced his lineage to the old kings of Athens and before them to the god Posiedon. ? His, mother Perictione, was the sister of Chramides and the cousin of Critias. ? In such a family atmosphere, Plato learned much about public life and developed at an early age a sense of responsibility for public political service. ? Around 387 BCE, when he was about 40 yrs. Old, Plato founded the Academy at Athens. THEORY OF KNOWLEDGE †¢ The Cave †¢ The Dividend Line ? Plato provides more detail about levels of knowledge that we can obtain ? These objects and their parallel types of thought can be diagram as follows: Types of Objects y Thought |The Good, Forms |Intelligence | |Mathematical |Thinking | |Objects | | |Things |Belief | |Images |Imagining | Imagining ? The most superficial form of mental activity is found at the lowest level of the line. ? The three levels of reality here are, then 1. The form of Humanness 2. The embodiment of this Form in Socrates 3. The image of Socrates as represented on canvass Belief ? The next stage after imagining is belief. ? It may strike us as strange that Plato should use the word believing instead of knowing to describe the state of mind induced by seeing actual objects. Thinking ? When we move from believing to thinking, we move from the visible world to the intelligible world and from the realm of opinion to the realm of knowledge Perfect Intelligence ? To have a perfect knowledge would require that we grasp the relation of everything to everything else-that we see the unity of the whole of reality. Plato Summary Statement: â€Å"Now you may take, a corresponding to the four sections, these four states of mind: intelligence for the highest, thinking for the second, belief for the third and for the last imagining. These you may arrange as the terms in a proportion, assigning to each a degree of clearness and certainty, corresponding to the measure in which their object possess truth and reality†. THEORY OF FORMS ? Plato’s theory of the Forms is his most significant philosophical contribution. ? There are atleast five questions that we might ask about the forms: What are the forms? ? In his Symposium Plato states that we normally grasp beauty first of all in a particular object or person. But having discovered beauty in his limited form, we soon â€Å"perceive that the beauty of one form is akin to another†, and so we move from the beauty of a particular body to the recognition that beauty† in every form is one the same†. Where do the forms Exist? ? Plato’s clearest suggestion on this problem is that the Forms are â€Å"separate† from concrete things, that they exist â€Å" apart from the things we see. What Is the Relation of Forms to Each other? ? A Form can be related to a thing in three ways: o The Form is the cause of the essence of a thing. o A thing may be said to participate in a form. o A thing may be said to imitate or copy a form. What is the Relation of forms to each other? ? Plato says that â€Å"We can have discourse only through the weaving together of Forms. † How do we know the forms? ? Plato mentions at least three different ways in which our minds discover the Forms. o There is recollection o People arrive to the knowledge of forms through the activity of dialectic. o There is a power of desire or love (eros) Intelligible World Visible World Knowledge Opinion.

The Creation Of The Spitfire History Essay

The Creation Of The Spitfire History Essay In 1931 the Royal Air Ministry issues a specification for a new modern fighter plane, which was to be both agile in combat as well as fast, included in the specification was the requirement of a top speed of 251mph. R.J. Mitchell, chief designer at Supermarine Aviation at the time, replied to this specification with his first initial prototype The type 224 was a huge disappointment. After the initial reaction to this plane was received Mitchell and his design team then began to design a radical new plane, The type 300 this plane was also rejected. However the design team of Mitchell continued to develop the plane and added new features into the plane such as; ( The Supermarine S6B 1931 ) An enclosed cockpit, oxygen breathing apparatus. Smaller and thinner wings and the newly developed more powerful rolls Royce PV-XII V-12 engine (1,Wikipedia, November 3rd ). This developed design was accepted by the Air Ministry. On the 1st of December the Ministry issued  £10,000 for the construction of the first Spitfire and the next specification was written based on Mitchells design on January 3rd 1935. On March 5th 1936 the first prototype spitfire took its maiden voyage (2,Wikipedia, November 3rd). After the first test flights went well, the spitfire was then issued for manufacture. One of the biggest icons of aviation was to be placed in massed production; Further official trials were held in May 1936, and in June the Royal Air Force placed a production order for 310, by which time the new fighter had been dubbed the Spitfire. (3. Taylor, Patrick 2010) After this initial order the Spitfires the pilots then began to there training on how to fly them, from here the Spitfire also became the plane which was loved by its pilots. The Creator and Design team R.J Mitchell was a chief designer at Supermarine Aviation before undertaking the challenge of the Air Ministry specification. Although R.J Mitchell was influence during the prototyping of the plane and was highlighted as the creator of the spitfire he died from illness in 1937 and the project taken on by Supermarines new Chief Designer, Joseph Smith. Mitchell never got to see the achievement that his creation would achieve. After Mitchells untimely death Smith and the design team continued to develop the Spitfire during the Second world war and unlike other planes of this period such as the hurricane. Mitchells design was so sound that the Spitfire was continually improved through the second world war whereas its contemporary, the hawker hurricane quickly became obsolete. Over 22,000 Spitfires and derivatives were built. (4,Wikipedia November 4th) Mitchells design was also so robust that the spitfire was redesigned and adjusted to suit many different situations. Out of all these variations the most famous was the Seafire, This plane was adjusted to fly off airplane carriers. Early marks of Seafire had relatively few modifications to the standard Spitfire airframe; however cumulative front line experience meant that most of the later versions of the Seafire had strengthened airframes, folding wings, arrestor hooks and other modifications (5, Wikipedia, November 4th ) The Supermarine Spitfire The Supermarine spitfire is a single seating fighter aircraft that was used mainly in the British RAF. The Spitfire was designed as a short-range high-performance interceptor aircraft (6,Wikipedia November 4th) in conjunction with the Hawker Hurricane they were the basis of Britons air defence against any attacks. However the Supermarine Spitfire was also used for other tasks in the RAF, these would range from interceptor, photo-reconnaissance, fighter-bomber, carrier-based fighter, and trainer. ( 7,Wikipedia, November 4th) The versatility of the spitfires design allowed this to be done. The main event from were the Spitfire began to build its reputation as one of the greatest planes invented was during the battle of Briton off the cliffs of Dover. In the summer and autumn of 1940. (The Supermarine Spitfire in flight ) The German air force aimed attacks at factories, airfields, shipping centres such as Portsmouth were also targeted. The spitfire was one of the main reasons why the British Air forces won the Battle of Britain which highlighted it as a design icon in the future years. After the Battle Of Britain the Spitfire became the backbone of the RAF. And also saw action worldwide due to how successful and well they flew. As the war further progressed different versions of the spitfire were adapted for different missions and conditions. Up to 24 different variations of the spitfire were produced and 20,351 were produced in the 10 year period in which they were manufactured from 1938 to 1948, (8,Wikipedia, November 7th). The spitfire is the only plane that was built, before, during and after the second world war (9,EzineArticles, November 7th). All the spitfires were built to a certain specification and these could be adjusted and altered depending on the situation that the planes may face. The spitfire helped to save a huge number of lives in the period in which it served, regardless of which mission it undertook. R.J. Mitchell and his team had designed and developed one of the solutions that helped to win the second world war for Great Britain and the allying countries. The origin of the Spitfire and its production: The Supermarines were assembled in the west midlands in Castle Bromwich , this factory was equipped with the most specialist equipment available so that all Supermarines that were rolled out of this factory were flyable. It is estimated that this factory cost the government a total of  £2,000,000 however by the beginning of 1939 it was believed the factory may of cost double this. By the time production had finished at Castle Bromwich a total of 12,129 spitfires had been made.(10,Wikipedia, November 24th). However, the making of these planes was not the simple process in which the British government had hoped. As part of a plan to remove Britain of all its prized war resources German Luftwaffe ( The Germans version of the fighter plane during the war) attempted a vast number of air raids in hope of destroying the factories in the Southampton area. The two main factories here Woolston and Ichten provided the bulk of the airplane parts for the Castle Bromwich factory. On September 26th both factories were successfully bombed and wrecked with the loss of 92 lives, and many of the experienced work force injured. (11,Wikipedia, November 24th ) Knowing the inevitable would happen and the factories would be destroyed 6 days prior to the factories being bombed the British government dispersed and relocated many of the jigs and machinery used. The jigs and machinery were relocated to different parts of Southampton. These different parts and workshops became well known for being able to produced individual parts for the spitfire. The four most well known towns with satellite access were: Southampton and Eastleigh Airport Salisbury with High Post and Chattis Hill aerodromes Trowbridge with Keevil aerodrome Reading with Henley and Aldermaston aerodromes (12,Wikipedia 24th November) Without these factories the Spitfires production would not of been to the scale which it achieved. With careful guidance and supervision from the British government, who also funded the factories, the production of parts and the planes themselves were able to also avoid the attacks of the German air force. What made the spitfire a design icon: The spitfires design is noted as the main factor to making it a globally known design icon, one of the most known points of this was the Elliptical wing design. The elliptical wing design was aimed to solve two problems that arose during the designing of the spitfire in 1934, these problems revolved around the need for the wings to be thin, to help with manoeuvrability, as well as ensuring that it doesnt cause too much drag when the airplane is in flight. This provided a stern challenge for Mitchell and his design team with the added knowledge that the wings must be able to carry any extra ammunition and equipment. A feature of the wing which contributed greatly to its success was an innovative spar boom design, made up of five square tubes which fitted into each other.'(13,Wikipedia November 24th). This design allowed for incredible balance and strength in the wings. With the basis of the wings created the design team continued to test and modify during the war. They experimented wi th different angles of which the wings would be set at, and different tips which would be placed on the edge of the wings. A thin cross section on the wings allowed for a faster speed than all of the other contemporary planes at the time'(14,Wikipedia November 24th) . The RAF saw speed as the best form of defence against the attacking German Luftwaffe. Another of the spitfires features was how easily it could be developed adjusted and changed for different missions or conditions that the RAF may need the plane for. In its lifespan 24 different variations of models based upon the Spitfire Supermarine were created due to the design being so successful in terms of flying ability. One of the main reason the spitfire gained fame was how well they flew, the pilots of the second world war adored the spitfire for this reason. (Supermarine Spitfire in flight) The influence of the creation of the Spitfire Supermarine The main influence behind the creation of the Spitfire was the main planes in the German air force, the Messerschmitt Bf 109E and the Luftwaffe. The British government and the RAF saw these planes as a huge threat to Britain and a threat which the Hurricane (The British fighter plane before the spitfire) could not handle on its own. After issuing a specification on a new fighter plane , the British Government gave the engineers and designers of Britain the chance to provide a solution. Which R. J. Mitchell took up and created the spitfire it was a huge leap for British aviation design. The Supermarine type 224 was the first plane and design that Mitchell submitted to the British government. Although this design failed and disappointed it was the basis of the Supermarine Spitfire. After many Cleaned up designs and alterations the improved Supermarine Spitfire was accepted by the British governments and was then placed under test flying after an initial trial order was established. There was no previous plane that the spitfire based its design upon, it was designed by Mitchell and his team from the beginning until the first successful test flight and the further developments during the war, Although Mitchell was not to see his creation fly as he died during the testing process in 1937. What influence the Spitfire had on design. From the Spitfires initial design it helped to influence aviation in a whole new way. Many different variations of the Spitfire were created by the RAF for different missions and conditions. After the war had come to an end the spitfires were still placed into production as RAFs across the world used spitfires as there signature planes until they were placed out of service. The Spitfire also placed belief that British design was able of achieving great things and after the war the world of design took an upwards spiral due to belief in the designers of Britain. The influence of the Spitfire in terms of aviation was also notable, aviation designers paid more attention to the balance and handling of the plane, one notable factor was most aviation designers copied the spitfires wing pattern to increase both speed and stability. The influence of the spitfire was huge as it became a national and worldwide icon it helped aviation to reach new levels and develop further and faster than ever before. Due to the spitfire planes designers could place planes onto air craft carriers which could be designed to withstand long haul flights and carry the needed fuel. The Seafire was an example to this. Conclusion:

Cultural Globalization: Advantages and Disadvantages

Cultural Globalization: Advantages and Disadvantages February 14th is an important day for lovers. When this day most people will buy roses and chocolates give to the person they like. We called this day Valentines Day. Valentines Day is from Europe. However, China also has a festival like Valentines Day that is Double Seven Festival. Double Seven Festival is a Chinese traditional festival, in this day most of the girls would go to pray to get a better love. Nowadays most Chinese people do not know what need to do now. This situation tells us the traditional culture is losing. With the reform and opening up in China, lots of new cultures crowed into China. These cultures get into China, a lot of Chinese are interested in these new cultures. Because of this, Chinese culture with the world is getting more and more closed. Nowadays, most Chinese teenagers forget what we should do, when we are in some traditional festival. The major reason of this problem is technology, such as television, internet and transport. Maybe we will lose our traditional culture in the future. So we must to know some advantages and disadvantages of globalization and which thing can affect our culture. To be honest, we do not want to lose our traditional culture. So there are some ways to save our culture. In this ways, we may make the world know more about our culture and learn it. So protect and spread our culture is what teenagers like us should do. Background Information As we know, there are 56 ethnic groups in China; China has a large number of cultures. The Hui nationality is major one of this. Islam from the middle Tang dynasty was introduced into China, by Song dynasty to Ming and Qing dynasties; it has a history of more than 1300 years. By some research that more than 2000 cities and counties in our country, more than 95% of the Hui nationality lived. Hui clothing apparel and han the same generally, men with white hat, women wear a white hat and hair all packaged in it. Now most of the Hui nationality only when hui festival wearing like this. Another one is Miao nationality. Since 1949, Miao has been an official term for one of the 55 official minority groups recognized by the government of the Peoples Republic of China. Miao main living in the south of China, in the province of Guizhou, Yunnan, Hunan, Hubei, Sichuan, Guangdong, Guangxi, Hainan, and other places. According to the 2000 Population Census, the number of Miao in China is estimated that there are about 9.6 million. The Miao nationality includes Hmong people as same as other culturally and phonetically related ethnic groups who do not call themselves Hmong. These consist of the Hmu, Kho (Qho) Xiong, and A Hmao. The White Miao (Bai Miao) and Green Miao (Qing Miao) are Hmong groups. Nowadays, some young Hmong people do not speak Hmong or only know a little Hmong. Because of this, we know that our culture is losing. The major reason of this problem is globalization. With the rapid development of science and technology, globalization has not only to promote the development of our economy but also changed our culture. However, the impact of globalization on traditional Chinese culture not only disadvantage but also advantage. Disadvantages of Globalization There are three main aspects in the impact of globalization on culture. One is demise of the traditional festivals, than is limit our cultural innovation another one is control cultural autonomy. This problem can make our losing our culture. These problems can make the loss of our traditional culture so we must pay more attention to this problem. First of all, demise of the traditional festivals is the major effect. In the process of globalization, with the expansion of the cultural exchange and spread of western culture is like the flood into China. However, the reality tells us that as the western festival culture was introduced into China, more and more Chinese people have a special liking to those foreign festivals, and some traditional festivals of Chinas national culture are possible, even forgotten. Such as Double Seven Festival and Valentines Day is similar but many Chinese people know how to do in Valentines Day, do not know to do in Double Seven Festival. Because of this blind obedience and discomfort, which leads to the process of globalization, the traditional festival in the Chinese culture is facing great danger, and even some traditional festivals towards a decline. Next is limiting our cultural innovation. In the process of globalization, we in the production of a large number of advanced high-end technologies imported from abroad. But too much reliance on foreign science and technology, we will actively introduce embodied in, and less on their work in the digestion and absorption. Such as, too many products we just copy this not to learn its specific principles. So we just followed the footsteps of other countries did not go beyond those. These are reflected in the process of globalization, the culture shows lack of innovation. Another one is controlling of cultural autonomy. The process of cultural globalization will inevitably lead to world culture full range of conflict in the world field , occupy a leading global cultural transmission performance for the US-led Western culture in the position of the dominant culture. This situation makes the Chinese people pay more attention to the Western festivals. If this situation continues, we will not have our own traditional festivals. So we need pay more attention for our traditional culture. Advantages of Globalization As we all know, globalization is a double-edged sword. It not only to brought some of the threats and challenges, but also brought us a number of development opportunities. There are two benefits of globalization, one is strengthened, and it attaches great importance to the government for culture. Another one is show the world the Chinese traditional culture. So these two things can accelerate the development of our country. Improving the governments emphasis on culture is a main benefit of globalization. The process of reform and opening up, Chinese government issued a series of measures in national cultural preservation and development, through the cultural legislation, protection system and policy, cultural management, and other means, effectively resist the globalization to culture risk, for example, from central to local government departments, actively take advantage of our unique national culture to declare world cultural heritage. In legislation, the Chinese government has Dragon Boat Festival, Mid-Autumn festival, Qingming traditional festival of the national legal holidays. And as Beijing Beijing folk culture rescue project spend large sum of money; Sing big cultural province construction in Hebei province. Nanjing has a history of 2,500 years, held in April 2004, the worlds historical and cultural city of Expo. These are reflected from the side, the government began to pay attention to Chinas national culture. At same time, show Chinese traditional cultures to the world are another point. China as an Oriental ancient civilization with a history of 5000 years, appears to have been in the west is a full of mysterious place. Since the Marco Polo mind has been popular in Europe, Westerners have been the Chinese national culture has a great interest. With the ever-accelerating process of globalization, foreign exchange and dissemination of Chinese culture rapidly. For example, China has been established in many countries in the world Confucius institutes, the world set off a wave of Chinese hot already. More and more foreigners are attracted to Chinas national culture unique charm. This shows also happens to be that the more national, the world, the harmonious thought of ancient Chinese Confucian culture, to solve the conflict of international relations at present stage, also has a great significance. Many Chinese classical philosophies contain simple dialectics thoughts, and in comparison, wes tern philosophy also showed unique charm. In the process of globalization, through international exchanges and interaction of culture, Chinas national culture has on the world stage showed a dazzling brilliance! Conclusion The Chinese nation has a long history of 5,000 years, the culture of grandeur to the development of human culture in the east, and even the whole world widely profound influence, this is enough to worth us forever proud. However, we want to know, the Chinese culture is one of the world culture is very important and extremely characteristic of strengths of Chinese and western culture. We have a lot more than western things, there are also many less than western. Under the international background of the globalization, the development of our national culture is facing the severe test, and full of new opportunities. All in all, it is necessary for us to grasp the cultural globalization, in the spirit of courage to open both absorb useful to Chinese national culture essence of western culture, and emphasize the inner spirit of national culture value, make the national culture and foreign culture blend in the new development opportunity, realize the modernization of Chinese national cultu re.

The Meaning of Heart of Darkness in the Post-Colonial Climate Essay

The Meaning of Heart of Darkness in the Post-Colonial Climate Since its publication in 1899, Joseph Conrad’s Heart of Darkness has rarely been disputed on the basis of its literary merits; in fact, it was long seen as one of the great novels of the burgeoning modern era, a sort of bridge between the values and storytelling styles of the waning Victorian period and those of the modern era (Gatten), and regarded a high-ranking space amidst the great literature of the century, if not the millennia (Mitchell 20). Conrad’s literary masterpiece manages references to other great literature, universal themes which cut to the heart of philosophical questions of the innate goodness or evil of man, and historical references such as the Belgium and Roman empires (Kuchta 160), among other accomplishments, and so has garnered a lexicon all its own in the annals of literary criticism, debate, and analysis. Much consideration given Heart centers around a pivotal concern of the era in which it was written: that of what, in hindsight, were the early death rattles of the heyday of European colonialism, specifically in Africa. There is some debate amongst critics as to whether the novel, ultimately, is a morality tale about human greed, power, and evil (one could toss in deceit, cowardice, and a host of psychological considerations as well), or more a sociological commentary upon the morality of colonialism and imperialism from the point of view of a highly disillusioned expatriate turned agent for the empire, turned anti-imperialist (the character of Marlow in the novel: Conrad himself, in spite of his best efforts to disguise his input behind characterization) (Films for Humanities and Sciences). The truth is almost certainly, ... ...erald. Teaching the Politics of Heart of Darkness. An Introduction to Literature. Terry, Joseph. New York, NY: Longman, 2001. 1691-1692 Kuchta, Todd. â€Å"Envisioning Africa: Racism and Imperialism in Conrad's Heart of Darkness.† Victorian Studies 44 (1 October, 2001): 159. Mitchell, Angus. â€Å"New Light on the ‘Heart of Darkness.’† History Today December 1999: p20-28. Mwikisa , Peter. â€Å"Conrad's image of Africa: Recovering African voices in Heart of Darkness.† Mots Pluriels: April 2000. Ngugi Wa Thingà ³. Writers in Politic: A Re-engagement with Issues in Literature and Society. Revised and enlarged ed. Nairobi, Oxford and Portsmouth: James Currey,East African Educational Publishers and Heinemann, 1981. Zeger, Barry. â€Å"Sometimes a Cigar is a Large Black Phallus.† Spy Magazine; July/August 1996: 13.

To Autumn Essay -- Literary Analysis, John Keats

John Keats, an English Romantic poet, is considered one of the most beloved of all English poets. His work is known for sensuous descriptions of the beauty of nature and deep philosophic questions that it often brought up. This can be observed in his six odes written in 1819. The complexity and profundity behind the poems are the reason that they are considered to be among Keats greatest works, although the last ode composed in the sequence, â€Å"To Autumn† seems to stand out from the others. â€Å"To Autumn† is particularly significant because Keats is able to improve his perception of beauty from his previous perception that is explored throughout the other odes. Although, in both the form and descriptive surface, there is nothing that is overly confusing or complex, it is very simplistic, this is part of what makes the poem so special. Keats makes full use of literary elements by personifying autumn to achieve vivid imagery and by using the concept of death as an a llegory to artistic creation. â€Å"To Autumn† has the ability to suggest, explore and develop the overall theme of beauty through the use of these literary elements without getting in the way of its simplistic surface. While the structure of the poem is very simplistic, there are a few interesting features worth nothing. â€Å"To Autumn† is three stanzas of eleven lines each, which corresponds to the length of the season of autumn, which is three months long. In each stanza, the first four lines follow a rhyme scheme of ABAB, but then it switches from line five to eleven, to a rhyme scheme of CDEDCCE. This can signify how Keats conveys his theme, the first part of the stanza serves to introduce the subject of the stanza, while the second part gives room to elaborate and develop the ... ...eated or old forms of beauty that will return. Also, even though the spectator of these beautiful art forms will eventually die, morality cannot stop someone from spending their time on Earth admiring nature and beautiful art forms. â€Å"To Autumn† was the final work that was produced by John Keats and it marks the end of his poetic career. This is an appropriate poem for Keats to end on, as he is finally able to escape the fantasy world, that he often turned to in previous odes, in order to make a connection within the real world. While keeping the structure of the poem simple, Keats personifies the seasons, to further express the warm images of autumn and the beauty that can be found in nature. While also learning through the passing of time and allegories to art, that the acceptance of morality does not destruct the appreciation of beauty but rather furthers it.

Present Value

Selling price The selling price would equal to the sum of the potential profits realizable by the purchased asset. In order to present a proper amount with respect to the time value and including the market risk and risk premium, the profits have to be discounted to the present value using the appropriate discount rate. The sum of the discounted cash flows for the next two years of the asset’s useful life is $299,021.75. The same number represents a fair price for purchasing the asset, as it includes potential benefits realizable by the investment, as well as accounts for the possible risks on the basis of the fixed discount rate. Price adjustment under higher rates and inflationThe higher inflation rate would require the appropriate price markup. Market interest rates as well as the risk rates are higher under the growing inflation. Therefore, the price of the asset will be increased, by marking the adjusting the dollar value using the appropriate inflation rate.LocationIf th e asset would be located in the area with unstable governmental and economic situation, it would cost less. The unexpected and sharp market prices fluctuations could alter the projected profit margins. The implementation of long-term contracts would be under a threat. However, with only two years of potential profits, the latter argument does not represent the most critical issue in determining the price level. The risks associated with the potential benefits are significantly higher than in the case of operating in a stable economy. Consequently, the asset would lose some of its value, and its selling price would be lower.BondsThe goal of the firm is to maximize present shareholder value. This goal implies that projects should be undertaken that result in the positive net present value, that is the present value of the expected cash inflow less the present value of the required capital expenditures. Using net present value as a measure, capital budgeting involves selecting those pr ojects that increase the value of the firm because they have a positive NPV. The timing and growth rate of the incoming cash flow is important only to the extent of its impact on NPV. The increase in the net present value means the decrease in the discount rate. This data can be observed in the financial plan section, using cash flows, where the present value of a cash flow stream is equal to the sum of the present values of the individual cash flows. Moreover, in determination of the net present value cost of capital percentage can be used.The cost of capital for any investment is the rate of return capital providers would expect to receive if they would invest their capital elsewhere (opportunity cost).  The annual financial reports for the two companies suggest at a first glance that Cisco systems would be a more sound investment, as it represents a more favourable income statement balance. General Motors Company shows very low profits for the last periods, however its profit m argins are steadily growing. A significant loss, which negatively affects the current credit rating of the company, is realized in prior periods due to discontinuing operations and losses on requisitions. However, the company’s liquidity shows a close to industry’s median value. General Motors shows a more confident overall stability of business operation, while Cisco system greatly depends on innovation and research and development, which is associated with greater costs and bigger risk involved.However, the business indicates less dependency on fixed costs, which allows to attain not only technological or innovative advantage on the market, but also to win better trading bargains offering more favourable prices to customers. The business operations of Cisco largely depend on the appropriate timing and immediate reaction.Cisco should have a higher discount rate than General Motors, because it requires a more profound analysis for determining the potential performance of the company. The higher risks associated with the investment should be accordingly accounted for including the calculation of the market rate and the risk premium. General Motors offers lower returns but higher stability, which means less risk. Making a long term investment in bonds with the same pay rate would be more sound and reasonable for General Motors Company, as it provides a less risky opportunity of return. However, its benefits are limited compared to the potential suggested by the Cisco systems company.

A Madman’s Diary, The True Story of Ah Q and The New Years Sacrifice Essay

I. Introduction: Much of Lu Hsun’s stories are recollections of his past struggles. He admits this in the preface of his collection of works entitled, Call to Arms. But as this collection was viewed by Lu Hsun himself as a way to encourage young dreamers to pursue their aspirations and spare themselves of the agony of his youth, much of it becomes a mirror as well of the Chinese culture and history. Hence, Lu Hsun is not only a chief commander of China’s modern Cultural Revolution; he is also the founder of modern Chinese literature. This paper aims to make a modest critical analysis of Lu Hsun’s work using his first three short stories namely; A Madman’s Diary, The True Story of Ah Q and The New Years Sacrifice. These are chosen to identify patterns of themes, subjects and beliefs that are embodied in his writings. Also, we hope to be able to understand Chinese traditions and heritage using the same short stories. In the end we may find literature as a strong method of making a noble contribution to the world with its inherent power to opine, philosophize and influence. Let us begin with a brief telling of the stories’ plots and details. After which we enumerate the significance of each and lastly to provide a general assessment of the story’s lessons and socio-cultural and political implications. This last part of the analysis is relevant as we have had hints already of the intentions of the author to provide an empowerment to the readers for the attainment of certain goals. The paper will end in such a way that Lu Hsun is commended for his creativity in the craft to have shown consistency of his agenda as manifested in his literary machinery – ergo, becomes successful and compatible endeavors of revolutionary and literary toils. II. A Madman’s Diary The first story is a narration of Lu Hsun’s reading of a diary of his old friend. The latter referred to as the madman, through his personal accounts have expressed the nature of his illness. He sees his own brother, relatives, neighbors and doctor as man-eaters. The content of the diary may seem weird and dreadful yet the author of the diary charged of insanity has managed to think and speak of historical accounts to prove his case. For instance, he called a previous enemy, Ku Chiu which in translation means â€Å"Ancient Times†; his doctor, Li Shih-chen who in history was a famous pharmacologist and authored the Materia Medica. Both usage have latent meanings and will be explained later. The madman also has knowledge of several traditional myths like his mention of Yi Ya, who according to ancient records cooked his son as present to Duke Huan who was ruler since 685 to 643 B.C. of Chi; he mentioned also Chieh and Chou who were known tyrants in history; Hsu His Lin who during the end of Ching dynasty was a revolutionary executed in 1907 whose heart and liver were believed to have been eaten because of his assassination of a Ching official. Again, these historical descriptions have significance in the goal of the author of Madman’s Diary. The context of the story may seem to its audience a basic case of mental illness but this is true unless proper decoding is employed. The story suggests that there is a past experience which the madman has underwent which we could think of as the cause of his psychosis. According to the author, the madman has suffered from persecution. The sentiment of the main character at the time he was sick already against other people characterizes the same feelings he felt against them before this condition. Man-eating in the story symbolizes the feudal system in China. The oppression that the tenants suffer from their land lords has caused the madman to perhaps hate the former. The man-eaters in the story as observed by the madman consist of his neighbors, brother, doctor, etc.; basically all those who are of the land-owning class. The conspirators making themselves man-eaters as well include his own mother- this is due to the latter’s inability to reprimand his brother. To the madman’s mind, those who support and those who are silenced by the oppression are alike. This is why he refers to them as man-eaters as well – they all look at him in the same way like fierce animals ready to eat him and his flesh. Everyday, the madman has to deal with the same looks and reactions. He thought he was doing a good job of having been able to decipher their true intentions of killing and eating him. In the end however it pained him to have known that his sister could have died in the same experience of being eaten by other people. It pained him that his own family has not done anything while his mother’s weeping did not change the fact of her daughter’s tragic death. The seemingly unjust treatment of the community against a madman like him is translated into the majority’s incapacity and lack of buoyancy to uphold a revolution such as that which would overhaul feudalism and promote equality. Yet, the madman has seen that Mr Chao for instance did not look solely at him with anger but with fear as well. One is afraid to change the status quo where he/she is already benefiting. Just like Mr Ku Chiu who was displeased with his intervention on his account sheets twenty years ago. Ku Chiu meaning Ancient Times symbolizes the long history of feudal oppression in China. The madman might have made wild statements in his diary but to a madman this signifies discontent, confusion, mixed emotions of fear and pain, none of which is equivalent to happiness and peace. He said he has not seen the moon for over thirty years. He must have been imprisoned or isolated that long from the community, the people barely recognize him just like the dog which looked at him twice. In the new day or perhaps new circumstance he is into, he only remembers the feelings of annoyance against them. Yet he witnessed the children, lively as they may appear but the madman, reluctant about their purity thought they also had eyes that misinterpret him. When he said their parents could have told them about his story, he was referring to the possible transfer of the tradition of tyranny to the new generation and the hindrance to their quest for truth, justice and equality. The madman abhors the fact that the own victims of this cruelty have not done anything to antagonize but why do they look at him like that? This is expressed in the part below: â€Å"†¦Those people, some of whom have been pilloried by the magistrate, slapped in the face by the local gentry, had their wives taken away by bailiffs, or their parents driven to suicide by creditors, never looked as frightened and as fierce then as they did yesterday†¦Ã¢â‚¬  (Lu Hsun, A Madman’s Diary, April, 1918) He sees their laughers, discussions of him, teeth and speech as comprising their secret signs. There are statements in the story which the author has provided for us to understand further the nature of the norm in their history. Like when the madman remembers the time when he would be commended by his brother for his indifference vis a vis wrong doings: â€Å"†¦I remember when my elder brother taught me to write compositions, no matter how good a man was, if I produced arguments to the contrary he would mark that passage to show his approval; while if I excused evil-doers, he would say: â€Å"Good for you, that shows originality†¦Ã¢â‚¬  At that time , it would have been better if you are blind and deaf and perhaps insane to resist the subjugation. This is also presented in the part where Mr. Ho, the doctor tells the madman: â€Å"Don’t let your imagination run away with you! Rest quietly for a few days and you will be alright†¦Ã¢â‚¬  The madman sees this statement as a warning for his deed of courage and integrity. – to be brave and righteous yield death of a man. Toward the end of the story, the madman asked a twenty year old lad if it was right to eat human beings and if such was an accepted act simply because it has always been like that. The author here is arriving at an assumption that a tradition of cruelty could have been regarded by most of them as justifiable by its permanence and embedded nature. But a challenge has been set forth in the end; that is to become a real man. For the madman, real men don’t eat human beings. Although as claimed, primitive people have done so, he advised his brother that to remain like them is the same as reptiles and animals who eat flesh and must be ashamed of themselves. This is a way for the author to propose that to desist tradition (the four thousand years of eating flesh) is to put a halt to oppression – this is the act of a real man. He calls on a change of spirit and ideas so he tells them in the story; â€Å"You should change at once, change from the bottom of your hearts! You must know that in future there will be no place for man-eaters in the world . . . .† His final words are equally challenging and meaningful. It was a call for change especially for the youth – â€Å"Perhaps there are still children who have not eaten men? Save the children. . .† III. The True Story of Ah Q The second story is written in December, 1921. Ah Q is a worker in the Weichuang village who has become a laughing stock and destination of insult from amongst his fellow villagers. His death was a tragic one considering that while his origin has not been known to the author or to the village people in the story, the cause of his execution is also neither defined by him nor his fellowmen. It is in this cycle confusions and uncertainties that the story becomes a revelation of the situation of China during the early nineteenth century. Lu Hsun has used characters in the story with meaningful roles in China’s history. Mr. Chao and Mr. Chien are both influential and wealthy people in the village whose sons have given them pride by passing the examination and having been posted to high positions in the society; Whiskers Wang and Young D who are servants like Ah Q had different perspectives and never united; The Imitation Foreign Devil who studied in Japan and has returned to the village without any meaningful contribution; the nun whom Ah Q have maltreated for his perceived false modesty of her; the townspeople; the military captain; the successful provincial candidate; the old man with a clean shaven head – they all did not spare Ah Q a little. It appeared that Ah Q was fond of drinking wine, sleeping after a day’s job at the Tutelary God’s Temple and imagining his own definition of victories. For Ah Q being beaten by a son is a victory; and every time he is teased by the village folks for his scar that looked like ringworm on his head and crushed to the wall for his eccentricities, he considers them losers – for they are his sons. This weird claim of Ah Q has made the people a lot more irritated of him. To him his only two defeats were namely; his defeat by Whiskers Wang who he regard as his equal; and by the Imitation Foreign Devil. He found dignity in humiliating a small nun. When he lost his job due to an incident with a maidservant at the Chao family house, he headed to the other town where a stroke of luck provided him with goods enough to be sold and become a source of his new profit. Yet along with his return to the village and his renewed sense of respect for himself when the people started to talk about him and his fortune, a revolution occurred. Without much clarity, he was caught as suspect to a robbery by the revolutionaries at the Chao family. He told the captors that he might have approved of the revolution but he was not allowed to join because the Imitation Foreign Devil prohibited him. Uneducated, Ah Q was made to draw a circle as signature in a paper whose content was unknown to him and later that day, he was set as an example to the people and all other revolutionaries for death execution. One must have knowledge of China’s history to be able to appreciate further Ah Q’s story. The Qing dynasty with its long-lived rule and enormous failures has caused a deterioration of performance along traditional lines. The arrival of foreigners who were driven by the industrial revolution of the West had caused much indignation and loss of resources for the prideful denizens of China. With their superior weaponry and cultural superiority might have brought China’s independence they have nonetheless encountered opposition. This foreign presence has resulted to changed political demands among the revolutionaries. The Taiping Uprising for instance considered as the longest peasant rebellion denounced Confucianism and found new aspirations in Christianity. The dynasty resorted to the Chinese provincial armies to suppress the Taipings. A lot has changed since the abolition of the civil service examination in China based on the Confucian classics. There has been a program of sending students to Japan for modern studies that brought radical ideas convinced of overthrowing the dynasty and revolutionizing China. This success of reformation however by Sun Yat Sen has not abandoned feudalism, and has worsened due to China’s dependency in the new market economy and international trade, the condition of the peasants who were displaced and deprived. Warlordism and the lack of nationalism have deepened the problem of China until the success of the CCP in the 1940s. These events took place prior and perhaps during the writing of Lu Hsun’s Ah Q. Clearly, Ah Q represents the peasant revolution which has been isolated from the intellectuals’ endeavor. When Ah Q was denied participation by the Imitation Foreign Devil, the author has implied here that those who have attained education in Japan in the nineteenth century have not fulfilled the true essence of a revolution. They failed to establish unity among its people as superiority among the land owning class prevails. Thus, Ah Q might have wanted to revolt for as he claimed in the story, â€Å"revolution is good†, but it was late for him to prove his strength and capacity. He was executed in a crime he has not committed.   His lack of knowledge failed him to understand the situation – this is more painful for him.

Invent Your Own Religion

Skylar Mabe Religious Experiences Coffee Cult The Coffee cult was created as a unifying religion. Drinkers of the bitter liquid accept all kinds of drinkers: milk and sugar, honey, no sugar, no milk, black and even decaf. Members of the Coffee Cult, the drinkers, battled the likes of the tea, hot chocolate and soda drinkers for land and power since the beginning of time. In fact, the coffee cult was the most victorious among beverage worshipers. Because all pure beans have a bit of caffeine, the crusaders were able to stay awake longer than all the other thirsty ones.The coffee crusades took place over 100 years to conquer the holy lands of South America, where the sacred bean first flourished. Since then, the crusades continue over much land in Africa and some parts of Europe. The cult began in the 1400s when the bean was first discovered. The wealthy first had rights to the indulgent drink until a group of around the clock laborers caught wind of the side effects of The Bean. The l aborers worked from sun-up until sun-down but could never produce enough of anything to make a product. They stole The Bean and began experimenting. They cooked with it and crushed it into powder.They chewed it and put it on their skin but nothing could come close to The Bean and water. The ingredients were so simple, anyone could do it- and that’s exactly what they loved. The laborers didn’t have to be rich to experience the caffeine high, they just had to boil water and mix it with their stolen goods. â€Å"Coffee† as it would soon be known as was brewed at 6am, before nobility woke up and after the laborers had been awake for hours. They would brew it quickly and drink it slowly. Although it helped production by 200%, there was only a small amount of people who would go the lengths to steal it from the wealthy and bring it back.They were known as the Coffee Cult. One day the cult stole enough to brew and to plant so they traveled to the rainforests of South A merica, far away from the wealthy and began cultivation of what became one of the most sacred beverages in the world. The morning time is sacred to all Drinkers. All devout drinkers rise at 6am to enjoy at least 2 cups of coffee before starting their day; however, the only way to be looked down upon as a Drinker is to NOT have had a cup of coffee by 1400 hours. There are many different levels of the Coffee Cult; the highest and most respected are the coffee crusaders.They must learn all there is to learn about coffee in order to fight for it. In order to be a coffee crusader, you must first go through all stages of The Bean. The beginning stage is the first step in all coffee rituals and all rituals take place at 1400 hours. Stage One: Thirsty one becomes a Drinker The thirsty one must drink a cup of pure (black) coffee, and savor a bean- taking care of it all day until the dawn of a new day where the bean must be consumed. If there are any imperfections due to lack of care for the Bean, the thirsty one must wait 14 days to try the ceremony again.Once the bean in consumed the thirsty one is then considered a Drinker. Although there are many stages one can excel to, the common name for all cult members is â€Å"a Drinker. † Stage Two: Drinker becomes a Brewer In the second stage to becoming a crusader you must first learn how to reproduce the black gold. A ceremonial iron coffee maker is given to the drinker. The drinker carries the iron machine to his/her kitchen where he makes his first cup of coffee for his family and closest friends; they serve as the witnesses for this stage. On rare occasions, this stage is also used to convert a thirsty one to a drinker.It is considered a sacred and once in a lifetime experience when the new Brewer can brew coffee for a thirsty one to convert them to a drinker. Stage Three: Brewer becomes a Grinder Anyone can brew a cup of coffee but it takes an expert and lover of The Bean to be able to posses the knowledge to gr ind The Bean. To become a Grinder, there are 2 parts: Self-grinding and machine-grinding. The first part is learning the texture of The Bean. To learn the texture and smell the aroma one must grind The Bean with a mortar and pestle. A ceremonial 14 beans are self-grinded and kept beside the coffee maker for the life of the Drinker.The second part of becoming a Grinder takes place the next day at 1400 hours. A ceremonial iron grinder is again taken to the kitchen where close family and friends witness the brewer count out the number of beans it takes to make 12 cups of coffee and insert them into the grinder where they are used to brew the pot of coffee for the transformation cup. Not until the Brewer finishes his pure cup of coffee is he a Grinder. Stage Four: Public Dedication In order to become a Barista, one must first show their love and dedication, not only to their family and closest friends but also to all believers.The Grinder will wake up for 14 days (these days do not have to be in a row) at 5am to go to his or her local â€Å"coffeehouse† (an optional place with multiple brewers and grinders where all drinkers can meet and have coffee before they start their day) to brew and grind coffee for the other drinkers. Because those 14 days do not have to be completed consecutively, the public dedication could take anywhere from 2 weeks to 6 months. Once this stage is finished, the Drinker is judged on his coffee by the members of his coffeehouse.Depending on his score, he may be able to attend Barista School. If the Drinker does not make a high enough score this step must be repeated until he is able to move on; however, many drinkers end their journey here. To be able to make coffee for a group of people outside of friends is a high honor. If the Drinker does make a high score, he is ready for schooling and could possibly get paid for public coffee making. Stage Five: Becoming a Barista School for the drinker lasts 14 weeks. It’s a rigorous course in which The Drinker goes home to home to learn of different types of coffee.After that The Drinker studies The Bean through science, religion, its artistic appearance and its aroma. The most important step in becoming a Barista is the reproduction of The Bean. Once the Drinker masters growing The Bean on his own, he is ready for the final stage: The Perfect Pairings. Some perfect pairing for the bean consist of warmed milk, water, caramel, chocolate and whipped cream. Once they graduate from their schooling and training, they become a Barista and are eligible for pay in the coffeehouse, if they chose that as a career.Stage Six: The Crusader arises The gap between a Barista and a Crusader is small but meaningful. If there is a need, any and all Baristas will be called into battle and immediately become a Crusader. If there is no need for battle, a Barista can chose to study under 2 past crusaders and begin a coffee farm. The act of growing a large amount of coffee beans for t he cult’s use can also make a Barista a Crusader. Only a Crusader can grow the bean, otherwise it will wilt and taste sour. Without coffee growing education, no Bean will grow properly.The Coffee Cult depends on the crusader to further their Coffee kingdom and keep The Bean in stock. Although not everyone can become a crusader, it takes almost ten years, everyone can learn a little about coffee through their family and the stages they wish to go through. Since the beginning of the coffee cult, the wealthy and the laborers have dissolved their problems and have learned to be connoisseurs of caffeine together. Recently there has been a great rift in the Coffee Cult. The Caffeinated drinkers and the Decaffeinated drinkers have differed in what they believe is the root of their religion.Some think it is the feeling of being stimulated, rather it be in the morning or afternoon, even at night. Some think it is simply the aroma and the taste that keep the religion alive. There has a lways been some disagreement between The Drinkers but never anything like this. Some Coffeehouses have split because of the separating beliefs; families have even been torn apart due to this widespread disagreement but one thing is certain, every Drinker, be it caffeine, or Decaff will fight for The Bean in its pure state and surrender their taste buds to the so bitter its sweet, black gold.

Limitatitons of the Accounting Code of Ethics

Professional values, ethics, and attitudes. (AC 423) Group Assignment QUESTION: With the advantage of hindsight, what advice would you have given the Enron Board to avoid the 2001 disaster? GROUP MEMBERS 1. Augustine KuparaR082559R 2. Tonderai NyamadzawoR082987G 3. Simbarashe ChakaR089613J 4 Brighton Nzvuvu R089824H 5. Walter DangerR082990X 6. Simon ChigwandaR075968L 7. Ashley MurisaR082991Y 8. Frank Garatsa R082988H 9. Presely NheweyembwaR076037L 10. Peter DonaldR055241G 11. Shingirayi GweteR089773H BACKGROUND Enron Corporation was formed in 1985 from a merger of Houston Natural Gas and Internorth, Enron Corp.By early 2001, Enron had grown into the 7th largest U. S. Company, and the largest U. S. buyer/seller of natural gas and electricity. It was heavily involved in energy brokering, electronic energy trading, global commodity and options trading, etc. in 2001 Enron started to show major signs of trouble by announcing a huge third-quarter loss of $618 million. On October 22, 2001, the Securities and Exchange Commission (SEC) began an inquiry into Enron’s accounting practices and later that year the company filed for Bankruptcy.Key investigations revealed many shortcomings which include the use of complex & dubious accounting schemes to reduce Enron’s tax payments; to inflate Enron’s income and profits; to inflate Enron’s stock price and credit rating; to hide losses in off-balance-sheet subsidiaries; to engineer off-balance-sheet schemes to funnel money to themselves, friends, and family; to fraudulently misrepresent Enron’s financial Enron also used complex dubious energy trading schemes for instance the â€Å"Death Star† Energy Trading Strategy which was aimed at taking advantage of a loophole in the market rules governing energy trading in California.This essay will attempt to advice the Enron Board to avoid the 2001 disaster with the advantage of hindsight by focusing on the major areas in the paragraphs which fol low RECOMMENDATIONS THE BOARD OF DIRECTORS AND ITS FIDUCIARY DUTIES The Board, as the head of the organization is supposed to execute its duties and roles professionally and make sure that the company is run efficiently and effectively. It’s supposed to exercise oversight over all the operations of the organization.These duties includes adopting of corporate strategy, annual budget and formal organisational structure, ensuring that risk management structures are in place, the company is complying with the relevant laws and regulations and that adequate controls are in place, to exercise oversight over management operations, to act as a communication channel between management and shareholders and to ensure that financial information of the organisation is reliable and credible. There is need to ensure that the board is properly structured so that t it adds value to the organization.This means that it was supposed to have a chair, at least one the members is financially litera te and some of its members are non-executive directors. This would ensure that an independent perspective is brought into the board’s operations that would bring experience and expertise to the board The board supposed to follow its code of conduct in carrying out their duties. This ensures that all the activities it undertakes are in the best interest of the shareholders not themselves.For example, in carrying out their duties, all the board members are supposed to exhibit due care and diligence, to be honest and loyal, to exercise confidentiality on the organizational information and to disclose any conflict of interest. Some of the board members had financial interests in the Special Purpose Entities (SPEs) making large profits but they did not disclose this conflict of interest to the board. This would compromise their objectivity and independence in carrying out their duties.Some of the members of the board were not exercising due care and diligence in their operations. They were aware of the unethical and risky business operations that were taking place within the organisation but they took no action and did not bring it to the attention of the board. These included transactions through SPEs and the paying of unauthorised bonuses to senior officials. They even connived with the auditors to structure and perform some of the illegal transactions that were aimed at falsifying the performance and position of the organisation.The board is also supposed to have other special subcommittees that are aimed at enhancing the operations of the board in areas that need special attention. These include the Audit Committee that is aimed at overseeing the internal and external audit functions and the Remuneration Committee that will be responsible for the salaries and allowances of managers and other senior officials. The role of a company’s board of directors is to oversee corporate management to interests of shareholders.However, in 1999 Enron’s b oard waived protect the conflict of interest rules to allow chief financial officer Andrew Fastow to create private partnerships to do business with the firm? Transactions involving these partnerships concealed debts and losses that would have had a significant impact on Enron’s reported profits. Enron’s collapse raises the issue of how to reinforce directors’ capability and will to challenge questionable dealings by corporate managers. Specific questions involve independent or â€Å"outside† directors. Stock exchange rules require that a certain percentage of board members be unaffiliated with the firm and its management. ) Should the way outside directors are selected be changed or regulated? Directors are elected by shareholders, but except in very unusual circumstances these are â€Å"Soviet-style† elections, where management’s slate of candidates receives nearly unanimous approval. Should there be restrictions on indirect compensation i n the form of, say, consulting contracts or donations to charities where independent board members serve?Should the personal liability of directors in cases of corporate fraud be increased? Do the rules requiring members of the board’s audit committee to be â€Å"financially literate† ensure that the board will grasp the innovative and complex financial and accounting strategies employed by companies like Enron. Several of the auditor reform bills cited above would require the audit committee of a corporation’s board of directors to take a more active role in the selection and supervision of audit work.Enron should have kept an element of professionalism; the board of directors should show independence in decision making. The company must not have any close relationship whatsoever with its auditors. A strict and good system of corporate governance should have been set out , which sets out a clear system of duties of each director. They should have set out a syst em of segregation of duties that sees each director have an independent duty. AUDIT COMMITTEE Any effective audit committee must have been in place at Enron comprising of purely independent non-executive directors.Members should have an understanding of internal control system and financial and sustainability reporting experience. This committee reviews the accounting practices and approve the financial statements as integrated reporting. Thus the financial reports of Enron would not have been allowed to be published before the approval of the Audit Committee. Review the effectiveness of the internal control environment as well as oversight over the internal and external audit.The Audit Committee recommend to the Board of Directors the engagement, removal and liaise the terms and remunerations with the external auditor. The issue of non-audit services, it is also the responsibility of the committee to define the policy and approve the contracts. Hence the pure independent audit comm ittee it would have not allow Arthur Andersen to exercise multiple roles at Enron. Reports Management are received and reviewed to check whether in line with the approved internal Audit plan and the quality and effectiveness of the external audit function.Risk management is also pivotal in this committee so as to champion the fraud awareness. As an internal auditor, Sherron Watkins should have not directed her anonymous letter to the chairman of the board, Kenneth Lay but to the committee which oversee the internal control system. The Chief Accounting Officer, Richard A Causey who was getting money through the Special Purpose Entities had been once an auditor at Arthur Andersen an issue which should have been closely examined. An effective Audit Committee consider confidential reporting to facilitate whistle blowing.Overall, Audit committee have a combined assurance role thus monitoring the relations between internal and external audit to reduce duplication efforts as well as enhanc es transparency. AUDITOR ROTATION. The Issue Of Auditor Rotation Is Of Significant To The Quality Of Financial Reports. Auditors Should Be Rotated Every Few Years To Prevent Long Term, Close Ties Between The Enron And The Arthur Andersen Firm. Arthur Andersen is the firm that audited Enron’s books from its inception in 1985 (it was also global crossing auditor).Also there was questionable movement of personnel from between the two companies Richard A Causey, the Chief Accounting Officer had come to Enron after working on Enron audits for Andersen this creates a strong relationship, Familiarity threats and it is easy to can collude with Andersen in perpetuating fraudulent activities. Time should be put at least three years before a member can join Enron from auditing firm. Long term audit client relationships significantly increase the like hood of an unqualified opinion or significantly reduce the auditor’s willingness to qualify the audit reports.Mandatory audit rotat ion is ideal in maintaining the value of an audit for both the internal and external users. Although recurring auditors have got an advantage to Enron of that they will be auditing the business they know very well its environment and internal controls thereby reducing the chances of the auditor making an audit risk which is the risk that the auditor will give a wrong opinion that the financial statements are not materially misstated when in actual fact they are materially misstated. , however the disadvantages seemingly outweigh the costs of retaining the audits.According to Wallace, 1980 and De Angelo (1981) audit quality is a market assessed joint probability that an auditor will both discover a breach in the client’s accounting system and report the breach. According to Shockley (1982) a long auditor client relationship can have the effect of complacency, lack of innovation, less rigorous audit procedures and a learned confidence in the client may arise after long associat ion with the client. It also gives auditor time to develop a close relationship with the client in this case Enron employees..After a number of years there is some kind of turning point in the auditor and client relationship which can be detrimental to the auditor’s independence. Before the decision to rotate there is need to assess the quality of the audit client and this can be done in the following ways according to Shockley and Holt 1983, firstly the perceptions of users should be analysed, the pricing of the audit services has to be analysed and in this case Andersen’s firm was receiving a greater percentage of its revenue from Enron hence there is dependent on the company.The nature of the audit opinion has to be analysed it has a greater impact on the reliance with which we can place to the auditing firm. COMPLIANCE TO ACCOUNTING STANDARDS AND REGULATIONS The Enron was involved several accounting issues, one concerns the creation of special purpose entities (SPE s), these were established for the special purpose of covering Enron`s losses and there were also being used to transfer debts outside of the company and would not show up on the balance sheet at year end . The SPEs were supposed to be independent companies however they were headed by Enron former employees, and backed, ultimately, by Enron stock.The second issue was that Enron was also involved in other accounting scandals for example Enron took advantage of the limitations in the standards governing the energy business therefore over valued assets and selling some of decreasing assets to the SPEs at huge mark-ups and there realising the profits in the financial statements. As a resulted of these accounting misappropriations, Enron produced favourable financial statements leading to unapproved bonuses being claimed by employees and directors also providing themselves with obscenely generous stock option grants.The Securities and Exchange Commission (SEC) governs the activities of c ompanies registered on the New York stock exchange. Enron`s management should follow the regulations stated by SEC and also to prepare its financial statement according to the generally accepted accounting principles (GAAP). The accounting information produced by Enron should have been restated to show a fair financial position of the company. The SPEs should be liquidated no further transactions should be carried out between Enron and its related parties. In correcting its transactions Enron should other external auditors other than Arthur Andersen.These investigations should be carried confidentially so as to protect the manage the situation and also to protect Enron`s reputation. COMPENSATION TO EXECUTIVES AND OTHER PERSONNEL Effects of over paying directors it is results in directors losing focus of their core business, that acting their stewardship and accountability functions . Through good corporate governance directors via the agency theory are responsible to the shareholder s. Directors are independent form management; they are responsible for making sure management are carrying out their fiduciary duties.However if they are over compensated they are more likely to be inclined to favour management over shareholders, as they is a rise of a self-interest threat With no proper monitoring of the board through a remuneration committee, overpaying results bad corporate governance which affect the companies risk management. It results in problems not been brought to light, allowing them not been addressed. As directors ignore their duties and focus on short term profits and rather than maximising company growth in the long term, this reduces their ability to focus on strategic issues and establishment of unrealistic standards of performance.Decision-making is greatly affected as they will be they will be destruction of the authority line by the two boards who will be responsible for the overall well being of the company. As decision making will have been affe cted corporate and accounting practises will greatly be affected, which will increase the chances of fraud and error. These might include recording profits earlier and recognising expenses late. Overpaying also results in changes in the ethical culture of the organisation, as the board can select bad managers to run the business because they will be sharing a common perception.Which is lack of concern for long run of the business? Rather the advice would be for Enron to have a director’s board which contains an equal mix of executive and non-executive directors. This would be to ensure independence and accountability at the highest level, this also reduces self-interest threats . It allows for a board which separates itself from the management of the business Rotation of members at frequent intervals to allow for reduction in familiarity threats if members of the board stay for too long ,e. . more than five years they might become familiar with the management Establishment of remuneration committee which monitors the payment of executives, this ensures that directors are paid according to the tasks performed and not for unnecessary duties INDEPENDENCE Independence is when one makes decisions honestly and truthfully both in fact and in appearance and avoids internal and external pressures which may influence the outcome of a decision under review.The Enron scandal showed a number of independency issues being overlooked by the management of the company and instead concentrated on fraudulent profit making strategies which should have been avoided. These fraudulent activities involved the management of the company and their external auditors (Arthur Andersen), the company’s lawyers, consultants and lenders. The advice that l would have given to the management of Enron concerning independent issues was that they should have at first allowed every employee to exercise his or her duties without influence from anyone either internally or external.The man agement of Enron should have exercised their duties of stewardship to their principles without paying much attention to their excessive and self-centred interest of maximising wealth at the expense of their shareholders. The actions by Mr Ken Lay of forcing all employees to book their corporate travel through his sister’s travel agency was nowhere near independency but only self-interest and greed to accumulate wealth. The board members should have critically analysed the source of the monies they were receiving so as to find facts to justify the revenues.Instead they were only concerned about their packages and approved every idea the management would put before them without taking into consideration the effects of such decisions. This was a clear threat to the board’s independency since they were to choose on whether to be ethical or satisfy their insatiable need for wealth. These high earnings were also received by most of the company’s executives, finance, l egal and accounting professionals and they made them to overlook the questionable accounting practices which were yielding these huge packages.The management also needed to take note of their auditor’s operations when carrying out his mandate, there was need to segregate duties between auditing and non-auditing services. Arthur Andersen should have been engaged to one assignment only of auditing and leave the non-auditing services to other so that independent decisions could be made. The board should have rotated their auditors after a reasonable period of time to avoid familiarity and some associated threats to independence.There was need for the board to also discuss the issues of their auditor’s remuneration and other packages they offered so that they could match with the current market trends this would reduce the auditor’s dependency and force them to report any anomalies within the operations of the company. Role of Sell-Side Analysts Sell-side analysts h ave received considerable criticism for failing to provide an earlier warning of problems at Enron.On October 31, 2001, just two months before the company filed for bankruptcy, the mean analyst recommendation listed on First Call (which compiles and distributes analyst recommendations) for Enron was 1. 9 out of 5, where 1 is a â€Å"strong buy† and 5 is a â€Å"sell. † Even after the accounting problems had been announced in October 2001, reputable institutions such as Lehman Brothers, UBS Warburg and Merrill Lynch issued â€Å"strong buy† or â€Å"buy† recommendations for Enron. Analysts should have not been slow to recognize the problems at Enron.The analysts should not have financial incentives to recommend Enron to their clients. Investment banks earned more than $125 million in underwriting fees from Enron in the period 1998 to 2000, and many of the financial analysts working at these banks received bonuses for their efforts in supporting investment banking. Sell-side analysts must be independent and avoid any self-interest threats which may arise. Corporate Culture Enron has been described as having a culture of arrogance that led people to believe that they could handle increasingly greater risk without encountering any danger.According to Sherron Watkins, â€Å"Enron’s unspoken message was, ‘Make the numbers, make the numbers, make the numbers—if you steal, if you cheat, just don’t get caught. If you do, beg for a second chance, and you’ll get one. ’† Enron’s corporate culture did little to promote the values of respect and integrity. These values were undermined through the company’s emphasis on decentralization, its employee performance appraisals, and its compensation program. Each Enron division and business unit was kept separate from the others, and as a result very few people in the organization had a â€Å"big picture† perspective of the companyâ₠¬â„¢s operations.Accompanying this emphasis on decentralization were insufficient operational and financial controls as well as â€Å"a distracted, hands-off chairman, a compliant board of directors, and an impotent staff of accountants, auditors, and lawyers. † Jeff Skilling implemented a very rigorous and threatening performance evaluation process for all Enron employees. Known as â€Å"rank and yank,† the annual process utilized peer evaluations, and each of the company’s divisions was arbitrarily forced to fire the lowest ranking one-fifth of its employees.Employees frequently ranked their peers lower in order to enhance their own positions in the company. Enron’s compensation plan â€Å"seemed oriented toward enriching executives rather than generating profits for shareholders† and encouraged people to break rules and inflate the value of contracts even though no actual cash was generated. Enron’s bonus program encouraged the use of non -standard accounting practices and the inflated valuation of deals on the company’s books. Indeed, deal inflation became widespread within the company as partnerships were created solely to hide losses and avoid the consequences of owning up to problems.Conclusion In conclusion, one can see that a variety of perspectives can be applied to the Enron scandal which could have averted the 2001 disaster. If those charged with the governance of the entity had taken necessary steps in line with what is outlined in this essay, the corporation would not have collapsed. However even if Enron and its outside accountants and lawyers had done nothing improper, the sudden collapse of such a large corporation would suggest basic problems with the U. S. ystem of securities regulation, which is based on the full and accurate disclosure of all financial information that market participants need to make informed investment decisions. The overarching issue raised by Enron is how to improve the q uality of information available about public corporations. References * Bob Lyke. CRS Report RS21120, Auditing and its Regulators: Proposals for Reform After Enron. * JOINT COMMITTEE ON TAXATION, 2003 Report of investigation of Enron corporation and related entities regarding federal tax and compensation issues, and policy recommendations McLean, Bethany. 2001. â€Å"Is Enron Overpriced? † Fortune. * Paul D. Miller, Brief History of Enron (accessed 27 November 2012) http://www. freegrab. net/enronhist. htm * Paul M. Healy and Krishna G. Palepu, (2003) The Fall of Enron * Powers, William C. , Raymond S. Troubh and Herbert S. Winokur. 2002. â€Å"Report of Investigation by the Special Investigative Committee of the Board of Directors of Enron Corp. † * Steven C. Currall Marc J. Epstein 2003. Lessons From the Rise and Fall of Enron * Watkins, S. , 2002. Email to Eron Chairman Kenneth Lay,