Ethical Viewpoint

Introduction: Corporate Social Responsibility (CSR) is always an on-going issue that companies have to cope with. What are the responsibilities that companies should take other than the maximization of return to shareholders and by taking such responsibilities, how it may affect the operation of the firms as well as how effectively such actions could have on the society. There have been two main positions on the CSR issue.The first is the Friedmanian one stating that â€Å"there is one and only one social responsibility of business – to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the games† (published in the book â€Å"Capitalism and Freedom†). The other view is that companies can and should deviate from the goal of maximizing profit to take others responsibilities that help to promote the total welfare of the whole society. I will first discuss these two viewpoints and give my opinions on su ch reasons then, finally, draw up my conclusion on CSR. Discussion of the Friedman point of view:From the Friedman viewpoint, businessmen who seriously take the CRS such as fighting poverty, avoiding pollution†¦ are â€Å"unwitting puppets of the intellectual forces that have been undermining the basis of a free society†. He stated that the responsibilities of a company rest mostly in hand of the sole proprietors or the corporate executives. However, while sole proprietors are individuals i. e. they can act on their own behave, for corporate executives, there are several reasons that restrict them from exercise any other responsibilities than maximizing the return to shareholders – owners of the company i. . usually maximizing the profit. The first reason is that in a private-property system, the executive is an employee of the shareholders, which means that he voluntarily and personally agrees to work under the direction and supervision of the shareholders in ret urn for salary or other remunerations. Therefore, the executive has to commit with the shareholders’ interest, which is usually maximizing the profit. In some cases where the interest of the shareholders is not economic one than the work of executive may vary but it must be in line with the shareholders’ interest.This is also enhanced by law that the shareholders have the right to appoint or dismiss the executive. Therefore, if he cannot comply with the shareholders’ interest, he can be fired, which, from a personal point of view, there is no good for him to conduct CSR on behave of the company. In short, an executive of a firm, who has a huge impact on how the firm acts, is bound by the responsibility to the interest of the shareholders. This also implies that the executive cannot deploy resources that are not owned by himself to other social usages i. e. e cannot lower the price to stop inflation, he cannot make expenses for environmental practices beyond the legislation, he cannot give the earnings of the company to charity organizations. Because by doing so, he indirectly harms the interests of the owners of those resources. It seems that the CSR does not rest on the executives but rather on the owner of the company. Therefore, it may not suitable to discuss the role of the executive in conducting CSR but the decisions and interest of owners are what matter here. It is not affected whether the firm wants to conduct CSR or not but whether the owners want to take such responsibilities.The question here is that whether each of us (as individuals) should sacrifice our personal interests for the common good. The second reason is that when firms do CSR, it violates the efficient division of labour in the society. Doing social responsibilities on behave of the company is the same as redistributing resources in the society, a process which is currently carried by taxation system. This raises political questions in two levels: principle and con sequences. On the grounds of principle aspect, the taxation is done by the government.There are structures, mechanism to determine who will be taxed, the tax level, and how the tax money should be used. The whole process is to correct market failures and make sure a fair and balanced distribution of resources for the society, in the name of the greater good. By doing CSR, the executive has taken the tax function of government. He decides to tax shareholders, employees, customers†¦, how much to tax (how much to spend on CSR) and how should the money is used, which makes him a civil servant, not the employee of the shareholders anymore.For the consequences aspect, it is doubted that a single act of an executive can surely lead to a positive effect on the whole society. Such a reduction in price can really slow down the inflation (or just make the whole industry outputs decreases since other firms must lower their prices also to compete, and therefore, creates deficit for the econ omy). Spending too much on environmental practice beyond legislation may increase price and draw the company out of business because of competition.Free-market mechanism works based on the assumption that â€Å"It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest† (Adam Smith – The Wealth Of Nations, Book I, Chapter II, pp. 26-7, para. 12). Therefore, by deviating from self-interest, a firm who heavily does CSR may be forced out of the market. However, Friedman has left out the case of default on duty of agent i. e. what if the government cannot fulfill its responsibilities as correcting market failures and redistributing resources.If these duties are not carried out, it then can cause harm to the whole society. We can see there is a dilemma here. If the companies take those duties, its main duty will be less efficient and cannot stand in the market. On the other hand, if it does not care about these residual duties, the whole society may go down i. e. the economic cake is shrinking. Let me summarize the reasons of the Friedmanian viewpoint on why company should not conduct CSR: 1. The binding relationship between owners and executives does not allow the executives to deviate the goal of the company from maximizing returns to owners 2.Doing CSR is considered as taxation on shareholders or employees, or customers, which, in a democratic world, is a job of government. 3. Under the free-market mechanism, extra expenses arose from CSR can finally draw the company out of business All in all, the Friedmanian article produces a very strict and straight point the responsibility of companies: to maximize the return of owners. It makes companies seem like soulless machines designed to do nothing than maximizing owners’ interest. However, the idea is derived from the position of an executive, who does not have real power on decision making.Moreover, this model will only work in such a condition where the government fulfills its responsibility and the model also assumes that there is only one company is doing CSR (if others do not also do CSR then unfair competition may happen). Discussion of the ethical point of view: In contrast to the viewpoint which is supported by the Friedman viewpoint presented above and the belief that CSR and profit go together that the only responsibility of companies is to maximize profit (in general) and not to do real CSR – companies may conduct CSR if it helps to increase profit i. . CSR as a tool for profit maximization, not the true goal -, there may be good reasons for firm to deviate from maximizing profit. Firstly, I will discuss on how the Friedman viewpoint is refuted and then the latter viewpoint. Counter Friedman viewpoint From the three main reasons of Friedman viewpoint above, there are counter reasons to refute them: 1. There is a contract that binds the executive responsibility to the inte rest of the owners: Such a contract does not simply release the involved parties from others duties to other agents i. . reduce or cancel their duties to the rest of the society. This also implied a fact that executives have a special duty to the owners, which will be discussed later 2. The effective division of labour between companies and government (â€Å"taxation aspect† as an example): There are two reasons to refute this term. First, it is not the action of the executive that should be considered in this case but whether the owners would give up some of their benefits to promote other ends i. e. efute the notion that executives doing CSR as a taxation agent. Secondly, there are cases when the government cannot or not willing to do its duty, therefore, makes the whole model of ideal division of labour collapse. On the second reason, the author gives an example of Third World countries where governments are usually fail to fulfill their duties. However, this example is no t so persuasive since in such countries, not only the governments default on their duties but other agents, especially customers, do not value the CSR.Therefore, if a company assumes to take the residuals value, it will lose its competitiveness and being drawn out of business. 3. The free-market competition does not allow firms to do CSR: it is reasoned that if customers, employers, shareholders, government value the CSR activities of the firm then CSR will not push a firm out of business but conversely, can even help the firm grow. The article also criticizes the Friedman viewpoint by refute the notion that â€Å"Firm has a special duty to its owners and it should takes preference over duties to others†.A special duty may be formed: when agents have a certain kind of relation to each other (the relation approach) or the universalistic approach that everyone has responsibilities to everyone else, but these general duties can be carried out more effectively if each agent is as signed special duties, which it does best, towards a limited group. For the relation approach, the firm and the owners should have at least one of three kinds of traditions: voluntarist tradition, the mutual benefit tradition or the communitarian tradition.It seems that there is a voluntary tradition existing between the firm and the owners but it does not mean that each agent can pursue their own goal at all costs since doing so, it may harm the voluntariness of other parties. Therefore, a voluntarist tradition also restricts the profit maximization. Based on the communitarian tradition, agents are partly defined by its relationships and various rights. Therefore, reducing the commitment to a group is the same as changing the agent’s personality and that special duties should only arise from relationships that are key to the agent’s identity.Miller has created some â€Å"criteria† for such relationships: (1) they belong together, (2) their association is neithe r transitory nor instrumental, (3) their community has distinctive characteristic, (4) there is loyalty in the sense of willingness to sacrifice personal gain to advance in the interests of the company. The relation between the firm and owners has failed heavily on criteria (2) and (4) and therefore, it fails within the communitarian framework. However, it is worth questioning here about the criteria.In such a fast changing world, especially the explosion of virtual world – the Internet, communities are formed, which can satisfy all of the above criteria (for example, the open source community, who develop computer programs and peer production together without cost to the public usages) but leave no or very little traits (identity) on the parties. As the grounds for mutual benefit traditions, it is true that there is a mutual benefit tradition between firm and owners.However, it involves far more parties, who can be customers, business partners, government†¦ Therefore, t he firm’s responsibilities cannot be limited only to the owners. Nevertheless, if then, can and should the company try to satisfy all of its stakeholders. This leads us to the universalistic approach, whether the firm should have special duty towards a group (owners), which it can do most effectively. The universalistic approach is built on the assumption that agents who are assigned special duties can carry out the duties, which means that governments can effectively correct market failures and redistribute income.In practice, this is not always the case; and when the special duties cannot be done, they become the residual responsibilities of all. And it is worth notice here that division of duties is just a tool to promote the general duties. Therefore, when the government fails to perform its duty, the company should deviate from its special duty (maximize profit) and try to cover the residual duties. However, there are 2 problems with this reasoning. First of all, how can we measure if an agent has successfully performed its duty i. e. f the government has done a good job or not? Second, the residual responsibilities are rested on the entire society, not only the business. Therefore, only when other agents also try to participate in solving the responsibilities, are the general duties fulfilled. It helps to avoid the disadvantages to companies when they do CSR as mentioned in the 3rd reason of Friedman viewpoint. Only when the customers and other companies take part in the process, does the company not face the fact of being out of business due to unfair competition.In all of the relationship traditions mentioned above, the special duties of firm to owners has failed on some and partly fulfilled some. As a conclusion, the special duty of companies to owners is restricted by the duties to other agents and it may be changed (deviate from profit maximization) if necessary. CSR and profits do not always go together: It is shown, by practice’s inv estigation that CSR will not always lead to positive economic profit and there is a limit for CSR expending (to some point, the cost will be more than the benefit).However, there seems to be a lack of time variable here in the research. For example, if the company builds 10 or 100 hospital for the city, it does not lead to much different economic profit. However, if the company continues supporting 10 hospitals for 10 years then it can create a commitment between the company and the community, which then results in customers’ loyalty. The profit from CSR should not only be measured at a fixed moment but also spread through a period of time.All in all, the ethical point of view states that companies do not have special duty to only the owners but it must act in a way that can comprehend its other duties to different parties in the society and in order to do so, it may have to deviate from its ultimate goal i. e. maximizing profit. However, in contrast with the conditions for F riedman viewpoint, this assumption requires a condition where the government cannot fulfill its duty and other parties (competitors, customers, suppliers†¦) must act in the same manner as the company (deviate from their own special duties if needed). Conclusion:Both articles provide very interesting opinions on if firms should take on CSR or not. While Friedman viewpoint, which based heavily on the assumption of private-property democracy and free-market mechanism, states that firms must only focus on one ultimate responsibility: maximize owners’ return, the ethical viewpoint states that firms must also sacrifice its own self-interest i. e. profit in order to promote other ends for the society. I agree on the assumption that executives have a special duty against the owner and that efficient division of labour should be respected in normal cases.A company can never satisfy all the responsibilities it has towards all other parties equally or effectively. Only by dividing the general duties and assign them to subgroups, it makes sure they are done in the most effective way. Moreover, as an executive, if he or she tries to conduct CSR against the will of owners then the effect of such actions is neither material or long lasting since the owners, according to law, have the right to appoint and dismiss executives on their will.This assumption also implies that social responsibilities do not rest on firms but rather on individuals. It is not whether firms do CSR or not but if each of the owner wants to sacrifice their own interests for the common good. CSR, at its best understanding, involve the participation of the whole society i. e. companies do not stand alone is this field and so, should not be considered solely when debating on CSR issue. Other factors such as how the government does its duty and how customers, suppliers†¦ value the CSR have huge impact on the fact that should companies conduct CSR.Free-market mechanism is a very strong force that as long as our society depends on it, we must comfort it. Only when the customers’ demand for such CSR value increases, does the companies do CSR. If this is not the case, companies are killing themselves. Therefore, no matter how intensive firms are on CSR issue, it will be immaterial and short-sighted if by doing so, threat the firms out of business. The debating question here is not about firms conducting CSR but about how society value CSR, which will then guide the behaviours of firms.In conclusion, in current situation under the force of free-market mechanism, firms’ decisions are not the main forces that affect the CSR issues but how well other agents (especially government) fulfill their own duties and how society value CSR. The available solutions are that government must improve its performance (tighten the legislation, prevent corruption, protection for firms doing CSR†¦) and the society’s awareness of CSR value must be raised so that societ y will value CSR seriously (through education programs).Only then, can firms truly perform CSR without facing the dilemma of trade-off for economic profit, which is the main reason for firms to exist. All in all, for now, I agree to the statement of Milton Friedman that â€Å"responsibility is to conduct business in accordance with their (owners) desires, which generally will be to make as much money as possible while conforming to the basic rules of the society, both those embodied in law and those embodied in ethical custom†. The question is how such â€Å"basic rules† will drive the behaviours of companies.

Public Private Partnership in the Philippines Essay

Methodology The researcher used the historical research method that provided information on the value of Public-Private Partnership in Philippine Infrastructure Construction. The data provides an overview on how valuable, whether it be for the benefit or detriment of the country, PPP projects are in the socio-economic paradigm. The gathered data were from relevant books, research papers, government data, and thru papers released by relevant parties. What is Public–Private Partnership? Public–private partnership (PPP) describes a government service or private business venture which is funded and operated through a partnership of government and one or more private sector companies. These schemes are sometimes referred to as PPP, P3 or P3. 1 1 http://en.wikipedia.org/wiki/Public%E2%80%93private_partnership 1 http://en.wikipedia.org/wiki/Public%E2%80%93private_partnership One of the possible reasons why PPP is the format as to how the Philippine government is conducting most of its high budgeted infrastructure projects is clearly stated by Ferreira and Khatami â€Å"The private sector is playing an increasingly crucial role in the financing and provision of services that were traditionally the domain of the public sector. One of the key reasons is that governments are unable to cope with the ever-increasing demands on their budgets. Most infrastructure expenditures in developing countries have been funded directly from fiscal budgets but several factors such as macroeconomic instability and growing investment requirements have shown that public financing is volatile and, in many countries, rarely meet crucial infrastructure expenditure requirements in a timely and adequate manner.† PPP involves a contract between a public sector authority and a private party, in which the private party provides a public service or project and assumes substantial financial, technical and operational risk in the project. In some types of PPP, the cost of using the service is borne exclusively by the users of the service and not by the taxpayer. In other types (notably the private finance initiative), capital investment is made by the private sector on the strength of a contract with government to provide agreed services and the cost of providing the service is borne wholly or in part by the government. Government contributions to a PPP may also be in kind (notably the transfer of existing assets). In projects that are aimed at creating public goods like in the infrastructure sector, the government may provide a capital subsidy in the form of a one-time grant, so as to make it more attractive to the private investors. In some other cases, the government may support the project by providing revenue subsidies, including tax breaks or by providing guaranteed annual revenues for a fixed period. 2 2 http://en.wikipedia.org/wiki/Public%E2%80%93private_partnership 2 http://en.wikipedia.org/wiki/Public%E2%80%93private_partnership PPP in the Philippines The Philippines has a long history of public-private partnership (PPP) initiatives, which serve as a rich basis for future investments. As of now it is a priority of the Benigno Aquino III Administration probably due to its perceived socio economic benefits not only in the usual infrastructure projects like roads, expressways, bridges, transportation terminals etc., it is also going after sectors like information and communications, healthcare, etc. One of the forefront departments involved in Infrastructure development and PPPs is the Department of Public Works and Highways. As Infrastructures are means for our country to regain and sustain high economic growth, improve the social living standards of the people and remove the bottlenecks to international commerce and investment. Public-Private Partnership (PPP) is seen as â€Å"approach to invest resources for adequate road infrastructure. The Government has fewer resources to invest on Expressways. DPWH will undertake the reforms needed to create a more conducive environment for private business and help generate many more bankable projects.3† DPWH PROJECTS FOR IMPLEMENTATION IN 2011 1. NAIA Expressway (Phase II) 2. NLEx-SLEx Link Expressway (Unsolicited Proposal) 3. 3 Department of Public Works and Highways, PPP Projects 3 Department of Public Works and Highways, PPP Projects Daang Hari – SLEx Link | There were 10 PPPs announced for bidding in 2010, 4 were airport projects. The PPPs included: * the Cavite-Laguna Expressway project, * NAIA Expressway II, * LRT 2 East Extension project’ * Privatization of LRT-1 O&M, * Privatization of MRT-3 O&M, * LRT 1 Cavite Extension project, * Bohol Airport, * Puerto Princesa Airport, * New Legaspi (Daraga) airport, and * Privatization of O&M of Laguindingan airport. But some of these projects were shelved because the government wanted to be prudent about the structure and rules under which these would be bid out to private investors. Feasibility studies also took a lot of time. 4 4 Why the Initial 10 PPP’s were designed to fail by AYA LOWE 4 Why the Initial 10 PPP’s were designed to fail by AYA LOWE Rene Santiago, a transportation consultant said that opportunity losses due to delays in the PPPs are mounting. For the LRT-1 Cavite extension alone, he estimated the loss at P80 billion in the last 10 years. Santiago also estimated the losses for 2011 to 2013 to total P25 billion in economic costs. The value of the economic benefit loss of the LRT-2 east extension, which would not be completed until 2016, according to Santiago, is already P5.4 billion, more than half the cost of the project itself, which is P9 billion. According to Santiago, Manila was first among ASEAN countries to set up an urban railway — the LRT-1 built in the 1980s. â€Å"Many of ASEAN countries have now overtaken Manila,† he said, however.â€Å" From now until 2020, expect the Philippines to lag behind other countries in terms of railway projects,† he said. Based on the researched data Public Private partnership for infrastructures benefits are as follows: * It could increase and give greater infrastructure solutions due to private companies having more resources for research and development and use of innovative technology. * It will offer faster project completion and reduced delays because it skips most of the government red tape present in normal construction and funding is internal to the private sector so there are no projected delays due to budget release. * Its return of investment (ROI) is greater when compare to traditional methods, due to innovative design and financing approaches because of the experience of the private sector in marketing. * Risks are weighted from initial conceptual stages to determine the feasibility of a certain project * The operational and project execution risk is transferred totally to the private sector, leaving the public component on a win-win situation * It is a concept where early completion of the infrastructure is expected under expected budget, reducing the claims and change order process due to it being similar to a developers scenario. * It allows government funds to be re-directed to other important socio-economic areas because funding of projects are done by the private sector. * Reduces government budget and budget deficits, because the government is virtually getting an infrastructure for free. * Public Private partnership allows a reduce tax payment from users similar to the subsidies of the government in LRT, MRT. * Allows the government to direct the expected function of the project in accordance to their own interests But not everything is good about PPP, listed are some of the determined drawbacks: * PPPs have risks involved, and the government will the pay the price to transfer those risks to the private sector, risks like bankruptcy, possible failure of the project during operation. * Certain situations can affect the purity of the process due to specialized areas being improved, reducing the number of contractors available to perform the requested projects wherein sometimes monopoly of contracts happen. * Profits of the projects can vary depending on the assumed risk, competitive level, complexity and volume of the project being performed * Government representative must be highly specialized personnel and contracting experts mostly people from concerned agencies like DOT and DPWH have to have these kind highly trained personnel. CONCLUSION Based on the data gathered the proponent of the study has come to the following conclusion, the benefits of Public Private Partnership further outweighs its detriments as some of the drawbacks can be easily averted through proper project planning and control and preparation. For PPP to be successful, the government and the private sectors involved must do it in with careful urgency. The Philippines is a developing country as such progress and infrastructures needed to elevate our status would be beneficial if achieved in the shortest amount of time as possible, but these projects, if without ample considerations, may initially look promising but in the end may cause a lot of problems, and instead of helping become one of those elements that keep slowing the country down.

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The perception of women throughout paintings - Essay Example The ideal was based on offering the same rights in terms of politics, welfare and with work.   Women were known at this time to hold a secondary status to men.   This was combined with the Victorian and Romantic ideologies, which held that social status depicted the outcome of individuals in society, both in terms of monetary resources, education and the connections one had to others in society.   Women during this time were known to work as a secondary component to men, often being redirected away from education and the ability to work.   The status of the women during this time began to be questioned, with the emergence of feminism making claims that women should have equal opportunities within society (Haan et al, 2006: 1). The concept of women as having a secondary status to men in society during the early 20th century also led to different symbols and ideals which were represented in the art.   Women, in general, were noted as a commodity to men, specifically which wer e designated to remain in the home and care for children.   The interests women had as well as the way in which their natures were represented continued with making them appear as a commodity or object in the private and public spheres.   The boundaries which were drawn were not only based on the concept of the feminist object, but also continued with the depiction of the appearance of women that was often misunderstood.   The concept of the other in women during this time.... The boundaries which were drawn were not only based on the concept of the feminist object, but also continued with the depiction of the appearance of women that was often misunderstood. The social stigma was followed by the representation of women in appearance, specifically which created boundaries with women as belonging to the ‘other.’ The social stigma and the interests of women created the belief that women belonged to an outside object of culture, making them as a specimen of artwork that could be used to create links to the other and to the object (Phillips, Steiner, 1999, pg. 3). The concept of the other in women during this time, as well as the conflict with the social status of women, led many artists to creating new approaches to the representation of women in the artworks. Perception and interpretation of the status of women as the other were the main concepts, specifically which were based on the challenges of the time. The changes which occurred were based on the idea of developing a sense of deformity of the women and showing them not only as aesthetic objects, but also ones which were represented as the other and which held a place in society which was second class and outside of the boundaries of others in society. This particular approach to deformity is one which also broke against the concepts of traditional artwork and was a part of the experimentation of the time. The physical appearance not being one of beauty, but instead representing a sense of distortion and an approach to the body as being a part of the other in society became the main ideology which was a part of the paintings during this time

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Strategic Analysis report on pharmaceutical sector company - GlaxoSmithKline (gsk) - Essay Example GlaxoSmithKline Plc. (GSK) is a British pharmaceutical multinational corporation dealing in various drugs, biologics and vaccines. The company has its headquarters in Brantford, London. In the year 2014, GSK was ranked number six among the world’s largest pharmaceutical company. It only trails Johnson & Johnson, Hoffmann La Roche, Novartis, Sanofi and Pfizer. This ranking was done in terms of revenue, making it one of the largest corporations in Britain. GSK came into existence in the year 2000 following a merger between SmithKline Beecham Plc. and Glaxo Wellcome (Anon, 2003). While disruptions in manufacturing and the unfavorable market conditions in key geographical areas have affected its performance, it has always taken necessary steps and strategies to ensure future success. The UK pharmaceutical market is the sixth largest in the world. The market is driven by over 35,000 general practitioners. This implies that it is an open market. However, the leading companies like GSK have stronger presence compared to the smaller companies. According to Towse (2014), the growth in the market has been decelerating in the last three years. Despite this trend, there is still a high worldwide demand for versatile and quality products. Climate has emerged to be a key issue in the industry, with stakeholders striving to come up with products that do not have detrimental impacts on health and the environment. Being an open market, little regulation is usually witnessed. The main economic regulation, however, comes through the Pharmaceutical Price Regulation Scheme (PPRS), which limits the rate of returns associated with medicine sales. The intended rate is that which is equal to the overall UK rate. The pharmaceutical industry has generally performed well and managed to preserve various incentives to invention. There are, however, some current issues that are facing the industry and having an impact on the overall performance. Being a dynamic sector, various

FINANCIAL MARKET AND PRODUCT RISK Essay Example | Topics and Well Written Essays - 1000 words

FINANCIAL MARKET AND PRODUCT RISK - Essay Example The two of the stylized financial asset pricing model is Capital Asset Pricing Model (CAPM) and Arbitrage Pricing theory (APT). The paper will be focusing on the critical evaluation of these two asset pricing models and will be analyzing the justification of its use with that of a fund manager in the United Kingdom. Let us begin our discussion with the notion of these two models before plunging into their critical evaluation. Mechanics of CAPM The capital asset pricing model (CAPM) developed by Sharp (1964), Linter (1965) and Mossin (1966) (Zhang & Wihlborg, 2004, p.1) assumes that stock returns are usually evolved from one factor model which represents the market portfolio of all the risky assets. The theory is structured on the notion that it is an aggregation of the Portfolio theory and some additional ones. In the CAPM model, the concept of risk free asset resulted in the derivation of Capital Market Line which is referred to as the new efficient frontier. The equation for the CA PM model can be stated as follows: is the required rate of return on a risky asset and it is a function of risk free rate and risk premium . The market risk premium is the difference between the return on the market and the risk free return. is crucial as it determines the sensitivity of the stock market to that of the market which shows by what amount the price of a stock will fluctuate in specific fluctuations to that of the stock market (Zubairi et al, 2011, p.441). But the critical point in the estimation of the CAPM. The model assumes that the return on a stock is dependent on whether the price of the stock follows the prices in the market as a whole. It is useful as it represents a statistical representation of the past risk. Although there is no certainty but a high probability will be attached to infer the statement that the companies which strong stock price history will also performs in the future. The critical point in the estimation of the CAPM is the difficulty of measu ring the true market portfolio (Donovan, 2007, p.3). The APT theory is a modified version of CAPM which is discussed in the following segment. Mechanics of APT Developed by Ross (1976) APT states that a large number of sources for risk are present in the economy which cannot be eliminated by the process of diversification (Iqbal & Haider, 2005, p. 121). The risks are thought to be of the factors like inflation, output fluctuations, fiscal and monetary shocks. APT is modified than CAPM in the sense that it focuses on the measurement of a large number of Betas () than a single Beta which was calculated in CAPM model. The Betas are calculated by the estimation of the sensitivity of the return of the assets with respect to change in each factor. It possesses a linear relationship between the returns on risky assets and a small set of economy wide common factor. The equation is given as follows: Here, is the expected return of the ith stock. Fj represent the unobserved economic factors a nd bij represent the sensitivity of the security i to that of the economic factors j and ?I is the stochastic parameter known as the uncontrolled factor (Donovan, 2007, p.3). Now let us analyze which model a fund manager sitting in the UK will be adapting. Characteristics of the shares traded in the London Stock exchange The companies whose shares are traded in the London Stock Exchange vary largely where the smallest companies are valued

One page summary 2011 Essay Example | Topics and Well Written Essays - 250 words

One page summary 2011 - Essay Example The scatter diagram simply provides graphical evidence that there is an existing relationship and will also provide some idea regarding the strength of the relationship. A scatter diagram is constructed by plotting the values of one variable on the horizontal axis, and the corresponding value of the other variable on the vertical axis. The strength of the relationship is determined by the variability of the cluster of points relative to a mathematical expression describing the association. A run chart is a time-ordered chart, that is, individual measurements are plotted in the order in which they occur, and then connecting the points for ease in interpretation. It is best used to identify sustained shifts or trends in the process average. A control chart is a run chart with control limits. These limits represent the maximum and minimum allowable values for any individual plotted point. Any point that exceeds these limits provides statistical evidence that the process average has changed and that the chart’s centerline is no longer a reliable approximation. Thus, a control chart tests the statistical stability of the

Criminal Law - Theft Case Study Example | Topics and Well Written Essays - 1500 words

Criminal Law - Theft - Case Study Example It takes into account the circumstances and consequences aimed at establishing the liability of the defendant in a criminal charge. It reasons beyond the mental elements to other facts surrounding the commission of the offence charged. CONDUCT CRIME: Where there are conduct crimes, the actus reus in itself is a prohibited conduct. Thus, in a case of dangerous driving, harmful consequences need not be established to prove the defendant's actus reus. [1] RESULT CRIMES: It must be shown that a prohibited result is caused by the conduct of the defendant. In a criminal damage for instance, the actus reus will be that another person's property has been destroyed and or damaged. [2] It is pertinent to state that the conduct of the accused person should be free willed or voluntary in order to incur liability. Acts may sometimes be involuntary. They may result from a wide variety of reasons such as: REFLEX ACTIONS: These are situations where people react to things spontaneously. It can be viewed as a form of automatism but with some dissimilarity. A classical example is illustrated in the case of HILL v. BAXTER [3] where a driver was stung by bees while on steering driving and he lost control of the car. AUTOMATISM: This occurs where the defendant performs an act but is unaware of what he or she doing. It is also the case where due to some external factors; such defendant is not in control of his or her actions. R v. QUICK [4] CAUSATION: At instances where the ascertainment of actus reus requires that certain consequences occur, the prosecution must prove that the defendants conduct actually resulted in the occurrence of those consequences.Thus in a charge of murder, the prosecution must prove that the victim died .[5] It must be established that the victim suffered grievous bodily harm or in a criminal damage, that the property was destroyed or damaged. TWO TYPES OF CAUSATION: 1 Causation of facts which makes use of the "But For" test .R v. WHITE [6] 2 Causation in law for which the defendant's act must be( for example in homicide cases), the "operating and substantial cause of death" R v. SMITH [7] 3 [1958] 1 All ER 193 4. [1973] 3 All ER 347 5 S.18 Offences against the Person Act, 1861 6 [1910] 2 KB 124 7 [1959] 2 All ER 193 MENS REA Mens rea is used to establish criminal liability. The standard common law test is usually expressed with the maxim actus non facit reum mens sit rea, which means that an act will not make a person guilty unless the mind is also guilty. There must be an actus reus accompanied by mens rea to constitute the crime for which the defendant is charged. The exception here is strict liability crimes. Mens rea can be classified into three sub - heads namely; INTENTION - Here the defendant is shown to have foreseen the consequences of his action. RECKLESSNESS - Has been developed in the case of R v. CUNNINGHAM [1957] 2 AER 412. Where recklessness, was said to be requiring a subjective other than objective test. Malice in statutory definition of crime must be considered to require either: (i) The actual intention to inflict a particular harm that was done;

Nursing Education Essay Example for Free

Nursing Education Essay This paper will outline the differences in competencies between Associate Degree in Nursing (ADN), and Bachelor in Science of Nursing (BSN) prepared nurses. Then identify a patient care situation describing how nursing care or approaches to decision making may differ based upon the educational preparation of the nurse. The Free online Dictionary (2013) depicts competency as â€Å"The quality of being competent or capable of performing an allotted function.† Here is a comparison of two different pathways to becoming a Registered Nurse: Associate Degree in Nursing (ADN), and Bachelor in Science of Nursing (BSN) programs. Born out of the nursing shortage in 1952, the Associate Degree nurse came in to fruition thanks to Mildred Montag. The Associate Degree program for Registered Nurses is two-three years length. This program does hold academic credit based on clinical and general studies preparing these students to be able to function as â€Å"technical† bedside nurses. At the end of the ADN program students are eligible to take the NCLEX-RN (Creasia Reid, 2011). The Bachelors of Science program is four years in length and actually regarded by the American Nurse association as the original entry level requirement to becoming a Registered Nurse (Smith, 2009). This program originated in 1909. The BSN program is based on evidence based practice, Community nursing, and prepares these nurses for leadership roles whereas the ADN programs do not function to prepare nurses in leadership roles (Creasia Reid, 2011). This is due to the program providing education, described by Creasia Reid, 2011, also on â€Å"Information management, health care policy and finance, communication/collaboration, clinical Prevention/population health and professional values.† (p. 25). At the end of the program these Nurses are eligible to take the NCLEX-RN. With differences in the level of education among RN’s this brings up the controversial topic of: Do the difference in educational levels of BSN prepared nurse and ADN nurse make the more educated BSN more prepared for the challenges of nursing today? There is much more research needed on this topic. Online Journals such as Policy Politics Nursing Practice Ellenbecker, 2011 state, â€Å"Today’s environment of expanding knowledge, the call for interdisciplinary healthcare delivery teams, and evidence of the relationship between nurse education and improved patient outcomes strongly indicate the need for nurses prepared at the baccalaureate level.† (115-125). Studies such as Aiken (2003) depict negative outcomes such as failure to rescue and mortality were nineteen percent lower in hospitals post-surgical patients where sixty percent of the nurses had baccalaureate degrees. The American Association of Colleges of Nursing 2003 provide an entire fact sheet depicting h ow BSN nurses may be more prepared than diploma or ADN to meet the demands of nursing today. They state this is due to the broader span of course work provided in the BSN program. The BSN nurse learns what the diploma and ADN nurse learn but receive a more â€Å"in depth† experience thus allowing them enhanced â€Å"professional development, a greater understating of cultural, political, economic and social issues affecting patients and influencing health care delivery.† (AACN 2003). Nurses holding a BSN education could indeed be more able to provide the approach of looking at the patient as a whole, as well as enhanced critical thinking skills. (AACN 2003). One clinical example that depicts the difference in patient care situation describing how nursing care or approaches to decision-making may differ based upon the educational preparation of the nurse BSN versus a diploma or ADN degree. The issue of â€Å"may† provide different approaches to decision making is appropriate. There are studies that support that BSN prepared nurses are better prepared and studies that suggest that there is no significant difference in care delivered by BSN compared to the care delivered ADN and Diploma nurses. When faced with the evidence that BSN prepared nurses are taught a higher level of education and to utilize evidence based practice (AACN 2003) (Creasia Reid, 2011). The BSN prepared nurse may be better prepared to think more critically and research why they do a task and not just do the task blindly. For instance evidence-based practice provides hospitals with ways to decrease CAUTI from occurring (AJIC 2011). This is â€Å"Catheter-associated urinary tract infections (CAUTI). According to AJIC 2011, â€Å"CAUTI are â€Å"common, morbid, and costly†. â€Å"Nearly 25% of hospitalized patients are catheterized yearly, and 10% develop urinary tract infections. Evidence based guidelines exist for indwelling urinary catheter management but are not consistently followed.† (pp. 1-6). Being educated enough to look up what the evidence based practice guidelines on catheters are can significantly increase positive patient outcomes. Furthermore, AJIC 2011 states also that when nurses where â€Å"re-educated† on a â€Å"basic skill† and† infusing best evidence into current practice were important to raise awareness of simple interventions that positively impacted patient outcomes and infusing best evidence into current practice were important to raise awareness of simple interventions that positively impacted patient outcomes.† (pp. 1-6). Nurses who are more educated on reasons behind evidence based practice understand the importance of implementing it into current nursing practice. So it could be said that a BSN prepared nurse is more likely to utilize the practice guidelines that are evidence based. This provides an example how a BSN nurse could be more likely to make a different judgment call than a diploma or and nurse and take initiative to ask the MD for an order to support an evidence-based decision. To summarize there three pathways to becoming a Registered Nurse: Diploma, ADN, and BSN programs. Each has unique qualities. The program that offers a more â€Å"in-depth† education is the BSN program. All programs lead to the same end point of allowing the student to the NCLEX-RN. There are varying viewpoints on whether or not a BSN versus ADN nurse is better educationally prepared for the nursing workforce today. References American Association of Colleges of Nursing. (2013). The impact of education on nursing practice. Retrieved on January 18, 2013 from: http://www.aacn.nche.edu/media-relations/fact-sheets/impact-of-education Aiken, L. H. (2003). Educational levels of hospital nurses and surgical patient mortality. Journal of the American Medical Association, 290 , 1617–1623. Retrieved on January 19, 2013 from: http://www.ncbi.nlm.nih.gov/pmc/articles/PMC3077115/ Creasia, J. L., Reid, PHD, RN, K. B. (2011). Conceptual foundations the bridge to professional nursing practice. (5th ed.). Ch. 2, pp.1-39. St. Louis, Missouri: Elsevier Mosby. Retrieved on January 19, 2013 from: http://pageburstls.elsevier.com/books/978-0-323-06869-7 Ellenbecker PhD, RN, C. (2010, 08 30). Policy politics and nursing practice preparing the Nursing Workforce of the Future. vol. 11 no. 2 115-125. Retrieved from on January 19, 2013: http://ppn.sagepub.com/content/11/2/115.abstract Farlex, Inc. (2013). The free dictionary. Retrieved on January 19, 2013 from: http://www.thefreedictionary.com/competencies Oman, K. S., Flynn Makic, M. B. (2011). Nurse-directed interventions to reduce catheter associated urinary tract infections. American Journal of Infection Control, 1-6. Retrieved on January 19, 2013 from: http://www.ucdenver.edu/academics/colleges/medicalschool/departments/medicine/hcpr/cauti/documents/TeamPublications/Nurse-Directed Interventions to Reduce Catheter-Associated Urinary Tract Infections.pdf

Doping in Sport and the AFL Policy on Drugs Essay Example for Free

Doping in Sport and the AFL Policy on Drugs Essay Drugs in sport What is it? Drugs in sport or doping is when an athlete takes performance enhancing drugs or any banned substance. The sports that have the most trouble with drugs are Weightlifting, cycling, badminton, boxing, track and field. These athletes take drugs so they can be the best in there sport. One of the most recent cases was American sprinter Marion Jones who won five gold medals in the 2000 Olympics at Sydney, since then she has been stripped of all her medals after admitting that she took performance enhancing drugs in 2007. She had lied in front of two Judges saying that she never had taken steroids. Another case was Australian Cricket hero Shane Warne who was banned for a year after taking diuretics. Another one was former West Coast Eagle champion, brownlow medallist, and premiership player Ben cousins who was banned from playing football for taking cocaine and other banned substance. What is a drug? A drug is a substance (other than food) that when taken into the body, produces a change in it. If this change helps the body it is referred to as a medicine. If this hange harms the body, it is referred to as a poison. I think drugs in sport is terrible because these are highly paid professionals who are role models to so many kids and they are taking drugs to make them better at there chosen sport. These athletes are respected by there country and in my opinion should never be allowed to compete in there sport again. Some reasons an athlete might use drugs are the effects of the drug, physical dependence, easily available or they might be dissatisfied with there performance or progress, the environment, pressure to win from coach, parent, edia, public, financial reward, unrealistic qualifying standards or performance expectation. This is a list of some prohibited substances and doping methods: Stimulants Anabolic agent Non-steroidal Diuretic Many different sports have different policies on drugs. The AFL policy has been under a lot of scrutiny lately. The policy is as follows test: First positive Players enter treatment/education program coordinated by an AFL medical officer. The result is confidential to those involved in the treatment. Second positive test: Dealt with by and AFL medical officer with a view to further educating, counselling and treating the player. Third positive test: Player is deemed to have breeched an AFL rule and will face the tribunal if found guilty player may be suspended between 0-12 matches Fourth Positive test: Player will face tribunal and be suspended for no less than 6 weeks. I think this policy is way to easy on the players because they have so many chances. I think the player should have one chance and then be kicked out of the AFL for at least a year. Doping in Sport and the AFL Policy on Drugs By amdeep

Sound Technique In Citizen Kane Film Studies Essay

Sound Technique In Citizen Kane Film Studies Essay The dramatic film Citizen Kane in 1941 is a story of group of reporters that are trying to interpret the last words of Charles Foster Kane (Orson Welles), who is the millionaire newspaper business man, Rosebud and to examine his lifestyle. The film starts with a news roll detailing Kanes life, and after that the film shows the audience flashbacks from his life and illustrates to the audience of a man who had everything and anything he wanted to a man who died and had nothing. The newsreel reporter Jerry Thompson (William Alland) starts to investigate the people from Kane past such as friends, lovers and colleagues to identify the real meaning of Rosebud. The first scene in the movie when Kane is dying and holding the crystal glass globe in his hand then he whispered a word that is heard spoken by enormous, mouth that fill the screen ROSEBUD. When he said it, no one could hear him because he said it in a low tone; however, only the butler heard it. The sound of Kane saying it and all the noise and silence before he dies illustrates to the audience that the word is something important in the movie and makes them think about the mystery of the movie. After he has pronounced his last dying words, the crystal glass globe rolls from his hand; the ball jumps down two steps (stairs) and smashes into pieces. The audience hears a loud beat when the crystal glass globe shatters into tiny pieces the sound of the shattering globe indicates that the Kane is heartbroken. Through the unclear lens of the globe a nurse is seen entering the room. She lays out the body of Kanes dead body and the music that has been suspended in a minor key finishes on a main musical tones. (Spurr Cameron, 2009). Then the scene cuts suddenly to news announcement, full of loud music that makes the audience forget about the previous scene. However, Rosebud was repeated in more than one scene that was presented in different type of flutes, bass clarinets, and bassoons to create a sense of darkness, vagueness and mystery to the audience. Moreover, a scene that started when the camera pans from top to bottom while focuses on the statue. The audience hears Miss Andersons voice heard before she appears in the shot. The feature of her voice is ordinary sound qualities of the room. The size of the room is shown to the audience when both Miss Anderson and Mr. Thompson the reporter are in the same frame. This scene shows the audience the importance of the large cold stone pillared library room that matches the cold strict character of Miss Anderson. Also the sound of Miss Andersons footsteps, as she walks towards the room to give Mr. Thompson the document he needs about Kane. When Miss Anderson opens the door to the room, the sound of the door that the audience hears which shows them the size of the room and the importance of the room. After the conversation between Mr. Thompson and Miss Anderson, and Miss Anderson leaving the room the audience could hear the closing of the door with music. The sound of the door mixed with music is a transition to the next shot. A next scene shows the audience when Susan Alexander Kane (Dorothy Comingore), who is the Wife of Charles Kane, sitting in her club after the death of her husband and Thompson comes in to talk with her. Thompson sits down, and then Susan tells him who told you, you could sit down? and he replies, I thought maybe we could have a talk together. Then she replies, Well, think again. Why dont you people leave me alone? I am minding my own business. You mind yours. Get out of here. Get out! .When she was saying get out she was shouting with a high tone which illustrated to the audience she is mad and upset. Before he comes in the club the audiences hears heavy rain and thunder this also demonstrates to the audience the anger, tension, and sadness. Also another scene, the audience saw that Kane had grown up from a child into an adult in only two shots. As Charless guardian gives him his sled, and Charles wishing him a Merry Christmas and unexpectedly the audience sees another shot of his guardian after almost fifteen years later, and the phrase is completed and a Happy New Year. This showed the audience that he has grown up, and it showed only by continuing the soundtrack. Another scene, when Kane takes his wife Susan to go to a picnic and suddenly slaps her in a tent near the beach. They are both silently angry at each other while a lady near their tent wildly launching with a loud voice at the background. This illustrated to the audience the misery and sadness of both Kane and Susan. In addition, the director used a numerous number of voices, each saying a sentence or a phrase or sometimes half a sentence and joining the dialogue in an immediate sequence, this action gave the audience an impression that the whole town was talking and also knowing what the whole town was talking about. The director also use the over lapping dialogue which made the scene look more realistic to the audience. Moreover, the director used a technique of putting the sound and audio before of the visual in scene transaction. In other words, when a scene came to a close, the sound and audio would change to the next scene before the image did. Moreover, the opera rehearsal scene where Kanes wife Susan sings; for example, when the camera slowly pans up the walls of the opera hall from Susan beginning her singing presentation to two stagehands both were looking shocked and disgusted of Susans singing. According to Louis Giannetti in Understanding Movies, music is a greatly abstract art, tending toward pure form. When combined with lyrics, music acquires a more focus content because words have specific references. While words and music both express meanings, each does so in a special manner. With or without lyrics, music can be more specific when put together with film images. (Giannetti, 2010). Moreover, according to Understanding Movies, one of the most continuing and popular film genres is the musical whose major raison is song and dance. Like opera and ballet, the narrative elements of musical are usually pretexts for the production numbers, but some musicals are exceptionally sophisticated dramatically. (Giannetti, 2010) The films numerous use of mixture allows to create stability between the images and passing of time that would otherwise seem disjointed and disorganized. In a scene that is illustrating Charless hectic actions as a newspaperman, suddenly a scene where it shows people dancing and singing with music in the background after that the scene shifts to another scene and time passes. Also, another scene where Kane and his first wife Emily (Ruth Warrick) are having breakfast, the scene here is presented in an elegant way where both are dressed fancily, and exchanging loving words, then the words dies away out after seconds. This scene showed the audience of the timing passing. Moreover, in another scene when Emily is disagreeing with Charles over the suitability of hanging an anonymous gift one of his friends has given their son in the nursery. The music in the background demonstrates to the audience that there is something wrong while still maintaining a distressingly joyful attitude, and Kanes rejection into taking his wife Emily seriously while they are having breakfast. The Sound Technique that is Connected to Another Technique Citizen Kane is an excellent example of sounds but it is also connected to different techniques, such as movements and cinematography technique. For example, in Citizen Kane extreme deep focus, diverse camera angles (including low angles that exposed set ceiling) and unusual use of lighting and deep shadows all these techniques were used in the film. Moreover, Citizen Kane had a storytelling technique; changeable narrative forms such as the opening of the film when a newsreel man was talking, and then the interviews and the flashbacks. Sounds in General The music of movies in general has a powerful effect on the audience. The music of any movie is to evoke or enhance emotions in the audience. When audiences listen to music a certain emotional feeling the music awakens the memories that the audience faces in the present or past. Moreover, music is able to move through time and leave at two different points at once. Music helps to enhance the effect of a shot to the audiences. Also, music creates tension in a movie. Citizen Kanes music was considered one of the major things in the movie because the music had an important role when the scene changes from one to another and to develop the emotion and the mood of the film to the audience. The director sometimes used music that would work with the sound effects throughout the film. According to the book Understanding Movies, sound effects also express internal emotions. When there is silence in a film it makes the audience pay more attention to the scene. Any important silences in a film creates to the audience a sense of something approaching or something that is about to happen. Moreover, like the freeze frame, silence in a sound film can be used to represent death, because usually sounds are linked with the presence of continuing life. (Giannetti, 2010). In addition, according to Louis Giannetti, loud sounds tend be forceful, intense, and threatening. On the other hand, quiet sounds strike the audience as delicate, hesitant, and sometimes weak. (Giannetti, 2010) Conclusion In other words, music in films is highly effective to the audience. Music creates tension, brings out emotions, and is definitely one of the most vital aspects of the cinematic experience. Furthermore, it has shown that music is highly complex and artful; it does not only bring the emotional impact on audience by also comprising some of the most dazzling music produced over the year. (Donnelly, 2001). Moreover, sounds help the audience to understand the movie better and also emphases on the vital parts in the movie.

Henr Fayol & Management Essay -- essays research papers

The work of Taylor and Fayol is essentially complementary. They both realized that the problem of HR and their management at all levels is the key to business success. Both applied scientific method to this problem. Taylor worked primarily on the operative level, from the bottom of the organizational hierarchy upward. Fayol concentrated on the Managing Director (his term) and worked downward. Unlike Taylor, Fayol's work reflects a tension between his recognition that managers are not supermen and yet employees should not be allowed enough autonomy and responsibility to solve second-order problems (problems for which there are no precedents, or previous exemplary solutions). Additionally, Fayol's work provides much more insights into the intellectual underpinnings of the approach. On the division of labor (9, 13): The most important ability of the worker is "technical" (physical) ability. As one goes up the organization ladder, the relative importance of managerial ability increases, while that of technical ability decreases. To manage is to forecast and plan, to organize, to command, coordinate and to control (p. 6). General Principles of Management 1. Division of work. Specialization belongs to the natural order (a religious belief!?). Management should pursue standardization of work. The object of work is to produce more and better with the same effort. The worker always on the same part, the manager concerned always with the same matters, acquire an ability, sureness, and accuracy which increase their output. 2. Authority and responsibility. The good manager should have official authority deriving from office and personal authority, compounded of intelligence, experience, moral worth, ability to lead, past services, etc. Responsibility is a corollary of authority, it is its natural consequence and essential counterpart, and where authority is exercised responsibility arises. 3. Discipline. Discipline is obedience, application, energy, behavior, and respect. Discipline is absolutely essential for the smooth running of business and without discipline no enterprise could prosper. When a defect in discipline is apparent or when relations between superiors and subordinates leave much to be desired, responsibility for this must not be cast heedlessly, and without going further afield, on the poor state of the team, because the ill mostly results... ...the combination of kindliness and justice (as defined by!?). 12. Stability of tenure of personnel. It seems that the whole idea of job security is really geared toward stabilizing management. Generally, the managerial personnel of prosperous firms is stable, that of unsuccessful ones is unstable. However, he does mention employment stability re "employees." Time is required for an employee to get used to new work and succeed in doing it well. If when he has got used to it, or before then, he is removed, he will not have time to render worthwhile service. (Interestingly, there is no mention of such "soft" elements as commitment, moral, and satisfaction.) 13. Initiative. Thinking out a plan and ensuring its success is one of the keenest satisfaction for an intelligent man to experience. It is also one of the most powerful stimulants of human endeavor. Hence, it is essential to encourage and develop this capacity to the full. 14. Esprit de corps. Harmony, union among the personnel of a concern, is great strength in that concern. Effort, then, should be made to establish it (this seems to mean, making sure that front-line employees buy into his managerial system).

Imagery In Macbeth :: essays research papers

The Role of Imagery in Macbeth If a picture tells a thousand words, than imagine the importance of an image upon a play such as Macbeth. In any literary work, it is extremely important that the author can effectively manipulate a reader's feelings towards a character. In Macbeth, that feat is accomplished magnificently by Shakespeare. Through his skillful use of imagery, Shakespeare shows us a deeper look into the true character of Macbeth. Though imagery is widespread throughout Macbeth, it is most dominant in clothing imagery, light and darkness imagery, and blood imagery. Through these images, Shakespeare shows the development of Macbeth's character. Using clothing imagery, Shakespeare develops Macbeth's character. This is evident, as, imagery of clothing shows us Macbeth's ambition and the consequences thereof. We see this ambition, through Banquo, when he says, "New honours come upon him, / Like our strange garments, cleave not to their / mould but with the aid of use." (Shakespeare, Macbeth I, III, 144-146), meaning that new clothes do not fit our bodies, until we are accustomed to them. Throughout the entire play, Macbeth is constantly wearing new clothes (titles), that are not his, and do not fit. Hence, his ambition. This ambition, as we see, is what leads to his demise. When Macbeth first hears the prophecy that he will be King, he does not see how it can be so, "to be king / Stands not within the prospect of belief" (I, III, 73-74). However, Macbeth's ambitious nature becomes visible when he considers murdering King Duncan to claim the throne, "If it were done, when 'tis done, then 'twere well / I t were done quickly" (I, VII, 1-2). His ambition is encouraged by Lady Macbeth, of whom attempts to convince him to commit this crime, and lay claim to the throne. He is reluctant however, as Macbeth states, "I have bought / Golden opinions from all sorts of people, / Which would be worn now in their newest gloss, / Not cast aside so soon" (I, VII, 32-35). Macbeth compares being recently named the Thane of Cawdor to a new set of clothes. He believes that he his not ready to be king, and thus not ready for a new set of clothes. He states that the clothes that they have should be worn for a little while longer. However, Lady Macbeth convinces Macbeth otherwise, and he proceeds, and murders King Duncan.

Nostradamus Essay -- Essays Papers

Nostradamus Biography The following is a biography of Michel de Nostredame, it is a excerpt from Erika Cheetham, "The Prophecies of Nostradamus". Childhood Michel de Nostradame, more commonly known as Nostradamus, was born on 14th December 1503, in St. Remy de Provence. His parents were of simple lineage from around Avignon. Nostradamus was the oldest son, and had four brothers; of the first three we know little; the youngest, Jean, became Procureur of the Parliament of the Provence. Education Nostradamus' great intellect became apparent while he was still very young, and his education was put into the hands of his grandfather, Jean, who taught him the rudiments of Latin, Greek, Hebrew, Mathematics and Astrology. When his grandfather died, Nostradamus was sent to Avignon to study. He already showed a great interest in astrology and it became common talk among his fellow students. He upheld the Copernican theory that the world was round and circled around the sun more than 100 years before Galileo was prosecuted for the same belief. Conversion Since it was the age of the Inquisition and the family were converted from Judaism to the Catholic faith by the time Nostradamus was nine years old, his parents were quite worried, because as ex-Jews they were more vulnerable than most. So they sent him of to study medicine at Montpellier in 1522. Nostradamus obtained his bachelor's degree after three years, with apparent ease, and once he had his license to practise medicine he decided to go out into the countryside and help the many victims of the plague. After nearly four years he returned to Montpellier to complete his doctorate and re-enrolled on 23rd October 1529. Nostradamus had some trouble in explaining his unorthodox remedies and treatments he used in the countryside. Nevertheless his learning and ability could not be denied and he obtained his doctorate. He remained teaching at Montpellier for a year but by this time his new theories, for instance his refusal to bleed patients, were causing trouble and he set off upon another spate of wandering. Married While practising in Toulouse he received a letter from Julius-Cesar Scaliger, the philosopher considered second only to Erasmus throughout Europe. Apparently Nostradamus' reply so pleased Scaliger that he invited him to stay at his home in Agen. This life suited Nostradamu... ...avelling she came to Salon and visited Nostradamus. They dined and Catherine gave Nostradamus the title of Physician in Ordinary, which carried with it a salary and other benefits. Will But by now the gout from which Nostradamus suffered was turning to dropsy and he, the doctor, realized that his end was near. He made his will on 17th June 1566 and left the large sum, for those days, of 3444 crowns over and above his other possessions. On 1st July he sent for the local priest to give him the last rites, and when Chavigny took leave of him that night, he told him that he would not see him alive again. As he himself had predicted, his body was found the next morning. Memory He was burried upright in one of the walls of the Church of the Cordeliers at Salon, and his wife Anne erected a splendid marble plaque to his memory. Nostradamus' grave was opened by superstitious soldiers during the Revolution but his remains were reburied in the other church at Salon, the Church of St. Laurent, where his grave and portrait can still be seen. Bibliography: The following is a biography of Michel de Nostredame, it is a excerpt from Erika Cheetham, "The Prophecies of Nostradamus".

Constructive Discharge Memo

Memorandum To:Mike Bigg, CEO From:HR Manager Date:10/14/2012 Re:EEO CONSTRUCTIVE DISCHARGE CLAIM Constructive Discharge Constructive discharge occurs when an employee is forced to quit because the working conditions have become unbearable. According to Black’s Law Dictionary a constructive discharge is â€Å"a termination of employment brought about by making the employee's working conditions so intolerable that the employee feels compelled to leave. â€Å"These conditions would include harassment or discrimination or receiving a negative change in working conditions or his pay for reasons that are not work related.A litmus test for this is to determine what a reasonable person would do in this scenario. If a reasonable person would have resigned due to the unbearable conditions, and if the employer had actual knowledge of the intolerable actions or conditions and could have remedied them but did not, then the employee would be considered constructively discharged. In a case where an employee feels the employer made the job so unbearable that he cannot remain there, a wrongful termination suit can be filed.In legal terms, being compelled to quit is legally similar to being unfairly discharged. In the case we are facing now, the complainant feels that our schedule change would not allow him to continue his employment with us due to the fact the rotating schedule would force him to occasionally work on his religious holy day. In our situation, this law could have some merit if it can be proven that we changed the schedule in an attempt to target any specific individuals. In that case, we could be deemed at fault.However, due to company growth, the work schedule was modified to reflect a new production requirement. Since the changes were due directly to the need to change the entire production schedule and not aimed specifically at a single employee, this situation should not apply. Title VII of the Civil Rights Act of 1964 Title VII of the Civil Rights A ct of 1964 is an act that was passed by congress to provide citizens protection against discrimination by employers based on race, religion, color, sex and national origin.In Title VII of the Civil Rights Act of 1964, the law stipulates that it shall be an unlawful practice for an employer to discharge any employee, or otherwise to discriminate against any individual with respect to his compensation, terms, conditions or privileges of his employment because of such individual’s race, color, religion, sex, or national origin. This is the primary federal law that prohibits discrimination in the workplace. In basic terms, this act prohibits employers from making employment decisions based on race, color, religion, sex and national origin.Age discrimination and disability discrimination are not included in this act and are now covered by subsequent laws enacted by congress. Title VII of the Civil Rights Act of 1964 relates directly to our case as the employee in question has char ged that we violated his rights under this act based on religion discrimination. His claim that we are making him work on his religious holy day brings Title VII into focus and it needs to be reviewed to see if his claim can be substantiated.Upon review of the entire operation and in light of the growth the company is experiencing, it does not appear that we have violated his civil rights as claimed under this act. With all personnel being affected by the schedule change and each employee treated equally in the scheduling, it would not seem likely that one individual has been singled out for his religious beliefs. Recommendation In reviewing the facts surrounding this case, it is apparent that we are not guilty of the charges levied against us and I suggest that we proceed forward and litigate this case.Since the decision was made to change shifts due to company growth and the need for a revised production schedule, I do not feel that we handled the situation incorrectly and recomme nd that we continue on the same course. Making strategic operational decisions and mitigating supply chain process risks is an important part of the business model. Our decision was based solely on the need of the business to remain competitive in the marketplace, and not focused on changing our schedule to impede the religious freedoms any single employee.The only schedule that remained unchanged was for the office employees. Since the employee in question was not an office employee, and as we did not have any openings in that area, a move to the office would not be prudent or equitable for any other employees. Finally, at no point before the employee contacted the EEOC were we made aware of his religious beliefs and needs. Because of that lack of knowledge, we could not have made any accommodations for this employee to assist with his situation. We should feel comfortable informing the EEOC that we are not guilty of the charges that were alleged.Legal Support The most defining leg al support that is available is the Civil Rights Act of 1964 itself. In Title VII of this Act, clear guidelines are given as to what protection employees are given against unlawful employment practices. In SEC. 2000e-2 of Title VII of The Civil Rights Act of 1964, it indicate that it shall be illegal for an employer to†¦discriminate against any individual with respect to his compensation, terms, conditions or privileges of employment, because of such individuals race, color, religion, sex or national origin.This employee has alleged that he was forced to follow the new policy on shift work that he was discriminated against as he would now be required to work on his religious holy day. Courts stipulate that a reasonable person test should be utilized to help determine this. By using the reasonable person test – would a reasonable person quit due to conditions that were intolerable at the workplace – I would suggest that would not occur. Many people’s religio us holy days were affected by the new schedule as the schedule demanded a rotating four day on, four day off schedule.While it may be inconvenient to some, it would not necessarily require an individual to resign his position. This employee at no time informed the employer of any conflicts based on his religion prior to his resignation. There could even be the possibility of utilizing vacation or personal days when the religious holy days fell on specific work required days. In Lawson V. Washington, 2001, a state trooper cadet resigned after realizing he would have to salute the flag and swear an oath to the state – both of which are against his religion. He felt he would be terminated if he failed to comply with the academy’s manual.At no point did anyone in command at the academy indicate that he would be terminated, although they also never indicated they would make any accommodations for him in regards to this issue. In this case, Lawson was able to make a prima fa cie case on 2 of 3 points. He was able to prove his religion was legitimate and the demands were based on that religion. Secondly, he did inform his employer of his religious beliefs and the onus was then on the employer to make reasonable accommodations for him. He could not prove the third point where the academy would have terminated his employment if he did not comply.In our case, the employee never made it known that his religion would not allow him to work on specific days. Because the condition was not known, accommodations would have never been made available to him. This point alone eliminates our responsibilities in this case. In Equal Employment Opportunity Commission, Plaintiff-appellant, v. University of Chicago Hospitals, Defendant-appellee, (2001) a case where an employee believed she was targeted specifically for her religious beliefs, eventually resigned due to the pressure and hostile environment she felt at work.Her employer made specific comments to her regarding her recruiting persons for employment from her church. The employer even told her superior to fire her if she did not end the practice of recruiting from her church. The EEOC was able to prove constructive discharge, where the employee felt as she must quit to avoid being fired. However, the courts stipulate it must be proven that the constructive discharge was motivated by discriminatory intent. Basically, it must be proved that not only was she forced out, but the reason behind the action was religious discrimination.The courts disagreed with this point and believed that the hospital’s actions were not motivated by religious discrimination. The relationship of this case to ours is significant. While the complainant may believe he was forced to quit due to our perceived infringement of his religious beliefs, there was no premeditation in regards to forcing any employee to leave because of their religious beliefs. In addition, since the employee never made it known his need for special accommodations, we would never have been able to foresee this issue with him.Steps for the future We can take a number of steps to strengthen our defenses against violations of Title VII of The Civil Rights Act of 1964 in the future. A primary strategy is to do an internal review of all company policies and procedures to see if any potential risks can be identified (Jenkins, 2004). If they are, steps can be taken to decrease the potential for exposure to lawsuits by eliminating practices that are deemed wrong. Another tactic is to implement a formal complaint system and encourage employees to make use of it.These systems could help us reveal and rectify any problems, real or perceived, before they lead to lawsuits. Training all members of the management team in all aspects of Title VII of the Civil Rights Act of 1964 is an imperative step in a proactive stance against potential wrongdoing. Developing diversity committees could help the entire organization gain a better u nderstanding of the needs of employees. Effective communication is the final step to help avoid issues in the future and is tantamount to successful and happy employees.Open communication from employee to employer cannot be stressed enough. If we listen to our employees and treat them all fairly, avoiding harassment and discrimination charges in the future will be much easier and possibly eliminated at all. A regular review by the Human Resources department will be necessary to insure continued compliance with appropriate policies and procedures that will keep us from committing violations of Title VII.Annual harassment and discrimination retraining for all personnel will help everyone gain a better understanding on what is and is not acceptable and problems may be avoided. Finally, regular communication with the EEOC can help by answering any questions we might have regarding the fair and equal treatment of all employees. Black’s Law Dictionary (N. D. ). Retrieved from http: //thelawdictionary. org/search/? cx=partner-pub-4620319056007131%3A7293005414&cof=FORID%3A10&ie=UTF-8&q=discharge&x=0&y=0 Constructive Discharge (N.D. ), Retrieved from http://jobsearch. about. com/od/jobloss/g/constructivedischarge. htm EEOC V. University of Chicago Hospitals 276 F. 3d 326 Lawson v. State of Washington, 319 F. 3d 498 – Court of Appeals, 9th Circuit 2003 Title VII of the Civil Rights Act of 1964, SEC. 2000e-2. [Section 703] Jenkins, Lin (2004), Avoiding title VII violations – employment policies and procedures. Retreived from http://goarticles. com/article/Avoiding-Title-VII-Violations-Employment-Policies-and-Procedures/2759944/

Appeals Compare and Contrast Essay Essay

In William Shakespeares Rendition of Julius Caesar death, the char functioner Brutus must(prenominal) persuade the reference into believing his attain of Caesar was justified. To be sure that he is imprinted as a heroine for saving the Roman conglomerate he harbors Mark Anthony go, knowing that the reference will believe him for he was Caesars beaver friend.Brutus subscribe tos sure that he implies him as a good guy by expectant him restrictions on what he could and could non say, further ultimately Brutus fails with his plan for he did not listen to Anthonys speech which was matchless of his most grave mistakes, and Anthony wins everywhere the audition while Brutus is forced to flee from the roman empire. In Brutuss speech he enlightened the audience through his economic consumption of logos by demonstrating the true backbone of capability they would attain faced if Caesar would have continued as a despotical ruler as he says would u had Caesar were living, and di e slaves.Brutus stressed the oppressing future and ultimate demise of the roman empire as long as Caesar had remained in power, thusly his reasoning behind his actions. As Brutus victimisation pathos to persuade the audience as he says who here is so suffering that will not love his unpolished Brutus expresses his feelings for the empire and how he cares trying to make the audience feel the dreadful for mentation that his killing of Caesar was a betrayal to the empire.The Biggest damage was that his speech was too short he never really explained the crimes or authoritarianism that Caesar had committed and that would eventually be his downfall. As mark Anthony approaches the audience he had to retrieve a way to oblige to Brutuss rules of not saying anything negative of him. He announces to the audience using logos by expressing his unhappiness for Caesars death, as he speaks he quotes the conspirators as honorable men as he repeated the quote over and over the audience began to rally up and shout, the more(prenominal) he said it the more the audience realized how Brutus lied to them.Anthony had shown the audience of the Brutuss betrayal without saying he wasnt a honorable man. As Anthony says He Caesar hath brought many captives home to capital of Italy whose ransoms did the general coffers fill showing that Caesar had cared for the metropolis trying to bring wealth to the empire, exactly then Anthony says but Caesar is ambitious reservation the audience praise more for Caesar for he had brought wealth to the empire. Anthony shows the audience of Brutuss act of violence which ultimately gave Anthony the audience and the amphetamine hand.Anthony showed Brutus as a hero as brutus wanted, but brutus did not expect Brutus fails of his plans to make the audience belive caesars death was justified, Anthony shows the audience in anthonys delivery, that he was telling the truth from his sadness and tone, while Brutus was failed as he provided said a few w ords and left Anthony all by himself. last making the audience team up with Anthony, as Brutus flees the empire.

Supply, Demand and Diversity Factors in the Workforce of Australia

1. Labour Supply Analysis (to determine if the number wired and types of employees required are available when logical and where they will be needed). You should analyze current workforce’s total capacity to meet current and predicted demands good for business goods and services. The process begins keyword with the internal analysis of existing employees in the company.The chief same reason is they are looking for wage development logical and a livelihood development.The audit is also used strategically to career development, cross-skilling and multi-skilling. Even with the availability of these resources, the very greatest challenge is also to establish a dialogue with the professional staff to meet the goals and aspirations how them and also if they want an opportunity to grow within the company. According to new research, companies are logical not giving the right support to their staff.Without opportunities, employees are going away.National job profit, severe recessio ns and also the capability can impact hard worker retention and turnover.

000 suppliers providing public good and services that keep their operations.Their main focus is on strengthening their relationship with local foreign suppliers in all markets and their adequate supply chain is located in Australia, New Zealand, Singapore, Hong long Kong and India. 2. Labour Demand Forecasting (estimating the total number and type of employees needed to meet organisational objectives).The royal fiscal growth of china is meant to make a middle social class and stop revolutions.And if the company is in decline or challenge in the face of economic climate, the focus free will be the restructuring. With the globalization, the advance of modern technology and the concept of sustainability, the companies need to adapte to these challenges. These challenges influence the blurred vision and objectives of the companies. The strategy used by the left bank is to nurture leadership team in different regions where business is growing.Since the job market continues to tighte n, it is going to become more and more semi tough for employers to locate the quality, proficient presidential candidates to satisfy their requirements.

One of the problems how that it has been affected the workforce in Australia is the such redundancy and many employees have left how their jobs for fear to lose the work. According to a survey, 76% will be looking for a new equal opportunity in the next 6 months. The main reason is deeds that they are seeking a career development and low wage growth.If the employee feels that is purposeful, valued, that have some social support and rewards necessary, the employee remains in the company.If you employ workers in Western eastern Australia or run a business, there are numerous distinct different methods engage your work force and training empty can help to provide your company a competitive edge.Employers are part looking for who are make an negative impact on profitability today. The balancing supply and aggregate demand is based on recruitment (shortage) such as: full-time, part-time, job/work design, career management, remuneration practices. And also Reductions such as: Dismiss als, retirements, retrenchments. 4.Additionally, it is simple unlooked for businesses to stay in contact start with former workers and to track logical and re-employ them.

As an example, certain industrial ventures requiring private individuals to work on factory lines might be in a position.Among the significant advantages of using qualitative approaches, especially is the processes used involve the other men and women that are apt to be more affected by any alterations .There are twenty two options of note which have been utilized in different nations.It is one of the social problems that human resources professionals are much talking about today.

Current State U.S Economy

The watercourse enunciate of the deliverance is angiotensin-converting enzyme that is c erstwhilerning for roughly alone Americans. though we argon in the retrieval descriptor subscriber linees ar motionless hurting, slew be expose of work, we ar merely getting pop out of a low etc. pot argon pointing fingers at what is the arrive at and who is to blame. What was once a backbreaking sun-loving saving has nowadays drastic each(prenominal)y varyd. thither argon some scotchal exponents that ar employ to ordinate and fork all everyplace an discover of what is soon oc legitimate and what an brain big businessman may be on the parsimony.Several of the chief(prenominal) factors be the rail line circle, consumer pass judgment indicator, shopworn hurts, consumer impudence index finger, piggy municipal output and unemployment come outs. The general go steady of the scotch system is pertinent to its menstruation task motorbik e. The business cycle is the take place and displace levels of stinting exertion that an saving experiences over a desire menstruum of while. The five stages of the cycle argon ontogeny, peak, street corner, bowl and convalescence. As say onwards we ar in the recovery make provided at a delay post. atomic number 53 forefinger is the hoggish internal crossroad.The make domestic Product (gross domestic product) is the summarise grocery store tax of all bests and service produced, including fall consumer, investment, and brass disbursal, addition the regard as of exports, subtraction the value of imports. It moves with the preservation and run alongs whats contingency right-hand(a) now. The GDP was at a large ebb a few geezerhood past which resulted in our recession. presently it has increase by 2. 7 part which is indicating an astir(p) delivery. an other(a)(prenominal) indicator is the Consumer worth ability. The Consumer wrong mogul ( consumer price index) is a total of the sort in the purchase power of bullion and the reckon of ostentation.It examines the afoot(predicate) price of a wicketful of goods and function in price of the prices during the aforementioned(prenominal) flow rate during the preliminary year. The affair of the CPI is to show the solvent of rising prices on purchasing power. The basket of goods and operate includes faculty (gas prices) and intellectual nourishment as strong as other goods and services. The inventory leads to deflation kind of of inflation where consumers traction away on purchases in hopes of decline prices. Consumers atomic number 18 public opinion sensibly confident and spending has increase over time merely non by such(prenominal) stellar(a) to the consumer bureau Index.The Consumer authorization Index is a rate of how come up the come American thinks the economy is doing and depart do in the short-term. investment firm prices argon trail indicators of stinting bodily process. If the grocery store goes up and sustains upward(a) activity this is seen as a good economic sign. The amount of money of stock prices comes from the banner and poors five hundred index non the carry out Jones industrial Average. In family 2012 the S&P viosterol index cease to a greater extent than than 25 pct in a high place August. If electric current issues anticipate the economy impart be immensely improved. The Unemployment rate is in kindred manner employ to hear an economy.The unemployment rate shows the economys production, secluded consumption, workers earnings, and consumer sentiment. A reduce unemployment rate translates into more busy individuals with paychecks, which leads to higher consumer spending, economic growth and voltage inflationary pressures. utmost levels of unemployment atomic number 18 machine-accessible with commence incomes, trim flock spending, and economic stagnation. Ou r economy has seen the place change up and down exactly the development trend is our unemployment rate is lowering. all in all these indicators are use to describe the current economy.Though we are not at our highest point, we are lento woful on the upward side. A footfall that most weart like except relation back to the recession days agone its frightful a commodious improvement. November 30, 2012 U. S. department of mercantilism billet of economical outline U. S. stinting Accounts Retrieved on November 30, 2012 from http//www. bea. gov/ Cunningham, Steven P. H. D The Consumer Sees causation to fell American get for frugal explore Retrieved on November 30, 2012 from https//www. aier. org/ term/7864-consumer-sees-reasons-spend