The Effects of Credit Management on the Profitability of Manufacturing Companies in Nigeria (a Case Study of Guiness Nigeria Plc

Introduction The expansion of International Trade and the accessibility to foreign stock and debt market has given rise to an increase debate on whether or not there is need to be a global set of accounting standards. As companies compete globally for scarce resources, investors and creditors as well as multinational companies are required to bear the cost of reconciling financial statements that are prepared using national standards. It was argued that a common set of practices will provide a â€Å"level playing field† for all companies worldwide (Murphy, 2000).IFRS are standards and interpretations adopted by the International Accounting Standards Board (IASB). They include: International Financial Reporting Standards (IFRS), International Accounting Standards (IAS) and interpretation originated by the International Reporting Standards Interpretation Committee (IFRSIC) (Oyedele, 2011). IFRS represent a single set of high quality, globally accepted accounting standards that c an enhance comparability of financial reporting across the globe.This increased comparability of financial information could result in better investment decisions and ensure a more optimal allocation of resources across the global economy (Jacob and Madu, 2009). Cai and Wong (2010) posited that having a single set of internationally acceptable financial reporting standards will eliminate the need for restatement of financial statements, yet ensure accounting diversity among countries, thus facilitating cross-border movement of capital and greater integration of the global financial markets.History and Development of IFRS Globalization of capital markets is an irreversible process because of the development and growth in science and technology; there are many potential benefits to be gained from mutually recognized and respected international accounting standards. To bridge the gap between accounting standards among countries, the International Accounting Standards Committee (IASC) w as founded in 1973 by a group of professional accounting practitioners.The IASC was to formulate uniform and global accounting standards aimed at reducing the discrepancies in international accounting principles and reporting practices. In this light, the International Accounting Standards Committee (IASC) was established. Since its establishment the IASC has actively been championing the uniformity and standardization of accounting principles for over two decades (Carlson, 1997). In April 2001, the International Accounting Standards Board (IASB) took over the setting of International Accounting Standards from the International Accounting Standards Committee (IASC).Thenceforth, the IASB updated the already existing International Accounting Standards and referred to them as International Financial Reporting Standards (IFRS). Many of the standards forming part of IFRS are known by the older name of International Accounting Standards (IAS). IASs were issued between 1973 and 2001 by the Board of the International Accounting Standards Committee (IASC). In Nigeria, adoption of IFRS was launched in September 2010, by the Honorable Minister, Federal Ministry of Commerce and Industry, Senator Jubril Martins-kuye (OFR).The adoption was organized such that all stakeholders use the IFRS by January 2014. The adoption was scheduled to start with Public Listed Entities and Significant Public Interest Entities who are expected to adopt the IFRS by January 2012. All Other Public Interest Entities are expected to mandatorily adopt the IFRS for statutory purposes by January 2013, and Small and Medium-sized Entities shall mandatorily adopt IFRS by January 2014. The Importance of IFRSThe adoption of uniform standards cut the costs of doing business across borders by reducing the need for supplementary information. They make information more comparable, thereby enhancing evaluation and analysis by users of financial statements (Adekoye, 2011). Users become more confident of the inf ormation they are provided with and presumably, this reduces uncertainty, promotes an efficient allocation of resources and reduces capital costs (Ahmed, 2011).Esptein (2009), emphasized the fact that universal financial reporting standards will increase market liquidity, decrease transaction costs for investors, lower cost of capital and facilitate international capital formation and flows, various studies conducted on the adoption of IFRS at country level indicated that countries that adopted IFRS experienced huge increases in direct foreign investment (DFI) flows across countries (Irvine and Lucas, 2006). Cai & Wong (2010),in a study of global capital markets demonstrated that capital markets of countries that had adopted IFRS recorded high degree of ntegration among them after their IFRS adoption compared with the period before adoption. In a study on financial data of public listed companies in 15 member states of the European Union (EU) before and after full adoption of IFRS i n 2005, Chai at al (2010), found that majority of accounting quality indicators improved after IFRS adoption in the EU. The IFRS enhances comparability and transparency of reported results, easier cross-border stock exchange listings and foreign capital funding, additional and better quality financial information for shareholders and supervisory authorities, improved quality and efficiency of financial report.Impact of IFRS As a major change program, IFRS conversion affects many parts of our organization, including systems, processes and the wider business. Therefore ultimately, IFRS success depends heavily on how effectively accountants around the world are informed about the process and their willingness to adapt to or embrace change. IFRS could have a positive or negative impact on the financial statements. For example, recognition of interest income using effective interest method may negatively impact profitability as some of the credit related fees will form part of effective interest rate computation.However, the extent of the impact usually depends on the accounting policies adopted. The impact of IFRS transcends beyond accounting and financial reporting contrary to general misconception. Beyond finance, strategies, processes, people and systems will also be impacted by the conversion exercise. The following are some of the areas in which IFRS can affect our businesses: Systems and processes: IFRS will definitely change the overall presentation and contents of financial statements e. . more disclosures is required in the financial statements; consequently, there is a need to make amendments such as reconfiguration of existing systems, interface and mapping changes, changes to the chart of accounts etc. to generate IFRS compliant financial statements. Performance Management: Performance measures are going to be significantly affected as the effective interest calculation of income, impairment calculation and fair-valuation calculation will impact perfor mance results.Staff whose performance targets have previously been set using Nigerian GAAP calculations will need to be informed of the impact of IFRS on attaining these targets on their remuneration and the amount of effort that would be required to meet these targets under IFRS. Management reporting: Extensive impact on management reporting resulting in new forms of analysis and reporting. People and Communication: The conversion to IFRS will create a competency and knowledge especially financial control staff. However extensive training and communication plans will be in place to bridge those gaps.In addition to the aforementioned, the conversion exercise may have impacts on a large number of departments outside Finance including Human Resources, Information Technology, Risk Management, Business Development, Internal audit etc. For example, HR personnel will need to understand the impact of IFRS on staff loans. Some Key Risks Associated With Converting to IFRS Some of the key ris ks management should be aware of include: Lack of effective communication of the impacts of change to stakeholders the board, audit committees, investors and analyst, the impacts on internal controls and the related processes.Excessive costs and work levels resulting from ineffective planning and the inability by management to conclude and certify on the design or effectiveness of the company’s internal controls over financial reporting. Enforcement of Financial reporting Standards in Countries around the Globe and the Key Difficulties Faced in the Implementation of the Financial reporting Standards NIGERIA There are a number of institutions and agencies in Nigeria which provide guidelines that determine what information, and in what format such information, should be included in financial reports.Such institutions are the Institute of Chartered Accountants of Nigeria (ICAN), the Association of National Accountants of Nigeria (ANAN), the Central Bank of Nigeria (CBN), Nigeria n Accounting Standards Boards (NASB). Now the Financial Reporting Commercial (FRC), National Insurance Commission (NAICOM), Security and Exchange Commission (SEC), and Corporate Affairs Commission (CAC). These institutions are ready to give up on Nigeria’s GAAP and adopt IFRS from 2012 (Hassab, Epps and Said, 2001; Iyoha and Jimoh, 2011). Mukthar, (2009) sserts that, there is no better time than now to contribute to the debate for the need and feasibility of adopting the IFRS as a financial reporting framework in Nigeria. This is due to the pronouncements by the banker’s committee (a committee of Managing Directors of banks and the Nigerian Stock Exchange (NSE) to the effect that banks and all listed companies should prepare financial statements in accordance with the IFRS. Such pronouncements were made considering that complying with IFRS will facilitate transparency and lead to more disclosure in financial statements which will be useful to stakeholders, especially f oreign stakeholders.IFRS-based financial statements stand to have added advantage in their business relationships with their correspondent banks, multilateral institutions and international investors. Companies that prepare IFRS-based financial statements are also expected to get some boost in their rating. Adoption of the IFRS in Nigeria commenced in January, 2012. UNITED KINGDOM The enforcement of IFRS is under European Enforcement Coordination sessions (EECS) and Committee of European Securities Regulations (CESR). In the UK the body responsible for enforcement of the IFRS is the Financial Reporting Review Panel.Rolf (2010) suggests in through the CESR Annual Reports in 2010 that harmonization and the enforcement of the IFRS in Europe facilitate an efficient single capital market in Europe within the context of evolving EU legislation. UK’s Department of Trade and Industry (DTI) has since pronounced that publicly traded companies in UK should apply the International Accoun ting Standard in their individual financial reporting and that all EU listed companies were required to prepare their consolidated Financial Statements under IFRS effective from January, 2005 (ICAEW, 2006’ AECA, 2010 and Rolf, 2010).PricewaterhouseCoopers (2009) has confirmed that the U. K has since complied with the requirement; also small companies (SMEs) were required to report under IFRS effective from January 1, 2012. TURKEY Sigma, (1995) and Sigma and Hosal, 2005) observed that in 1980, a series of economic decisions following the International Monetary Fund’s (IMF) recommendations were taken to reduce the inflation rate, increase production, and support importing activities. In the reconstruction period starting in the early 1980s, Act No. 499 was put into effect in 1981 by the Parliament to prepare the grounds for establishing the Capital Markets Board (CMB). BRAZIL Brazil is incorporating its accounting standards with the IFRS. According to UNCTAD (2008), the main institutions leading the convergence process are the Brazilian Securities Commission (CVM), the Brazilian Institute of Independent Auditors (IBRACON), and the Central Bank of Brazil. A number of developments have recently advanced the country’s progress towards IFRS.The Central Bank of Brazil announced that as from 2010 all financial institutions under its supervision will be required to prepare their consolidated financial statements in accordance with IFRS. UNCTAD (2008) also reports that the Brazilian Securities and Exchange Commission has promoted efforts by companies listed in capital markets in Brazil to gradually adopt IFRS. For example, the CVM has been working more closely with IBRACON to accelerate convergence with IFRS and regulatory members.Companies listed on Sao Paulo Stock Exchange’s New Market are required to provide financial statements prepared in accordance with IFRS or to the US-GAAP, in addition to those that are prepared under Brazilian accou nting standards. The Committee of Accounting Pronouncements was set up in Brazil, whose objective will be to achieve full adoption of IFRS in the country. INDIA Ravindra and Shrikhadi (2010) observed that there is a growing international consensus on the International Financial Reporting Standards as acceptable standards for assessment of the financial health of a company across the globe. Based on the recommendations of the core group set up to facilitate IFRS convergence in India, its Ministry of Corporate Affairs (MCA) announced the approach and timelines for achieving convergence with IFRS. Also the Institute of Chartered Accountants of India (ICAI) commenced the process of issuing IFRS equivalent accounting standards. ICAI stated that for companies with exposure in European markets through equity or debt, transparency on IFRS is essential to cheap capital and hence, the proactive approach. ICAI set a time line of 2011 for compulsory switch over to the new standards.SOUTH AFRICA The South African Institute of Chartered Accountants (SAICA), the Johannesburg Stock Exchange (JSE) and the Accounting Practices Board (APB) of South Africa has recognized the need to be part of a global economy with respect to financial reporting. Local accounting standards in South Africa have been harmonized with international accounting standards since 1993. In February 2004, a decision was taken by the APB to issue the text of IFRS as South African statements of GAAP without any amendments (SIACA, 2006).The reasons for the ongoing harmonizing and the issuing of the text of IFRS as South African statements of GAAP were: for South African companies to attract foreign investment, to provide credibility to the financial statements of South African companies in the global market, and to do away with the need for dual listed entities to prepare financial statements in accordance with more than one set of accounting standards (Deloitte, 2006). ZIMBABWE Zimbabwe faces a challenge of h igh inflation that is affecting the wholesome application of the IFRS.The Institution of Chartered Accountants Zimbabwe (ICAZ, 2010) recommends that the IFRS should be in full application by end of 2010. Although Zimbabwe has economic challenges, the Zimbabwe Stock Exchange it has said that IFRS compliance is mandatory to all listed companies in its Stock Exchange (Tom, 2010). Currently, a ZSE panel of experts is responsible for checking IFRS compliance. It encourages accurate and correct presentation of companies’ financial accounts including historical data and internationally comparable balance sheets and disclosure.This makes it easier for investors, including external investors. The ZSE (ZSE, 2010) added that IFRS for SME is compulsory which was expected to commence by January, 2011, also the local GAAP which was based on the 1998 version was expected to translate into IFRS. The local tax authority has yet to adopt or convergence plans of tax reporting to the IFRS. KENYA Kenya is one of the earliest countries to adopt the use of the IAS and IFRS in 1999. UNCTAD (2008) confirms that over the years, Kenya has developed a wealth of experience in the use of IFRS, which provide useful insights in he development of strategies by International Standards of Accounting and Reporting (ISAR) to aid other countries in the implementation of IFRS. There a lone stock market in Kenya, the Nairobi Stock Exchange, in which the shares of about 50 companies are traded. In addition to these listed companies, there is also a sizeable number of companies which are either multinationals or companies owned privately by the nationals, as well as a large number of small and medium-sized enterprises (SMEs). In terms of financial reporting, all the companies are required to prepare financial statements based on IFRS.In most cases, however, SMEs would prepare financial statements for use by the tax authorities or by the banks for purposes of accessing credit. Other public inter est companies such as banks, insurance companies, cooperative societies and non-governmental organizations also prepare accounts in accordance with IFRS (Caroline, 2010). UGANDA The Institute of Certified Public Accountants of Uganda (ICPAU, 2009) stipulates that Uganda has adopted IASs, SIC IFRSs and IFRIC without amendment since 1998. All openly accountable bodies are obliged to present their financial statements in compliance with full IFRS.In additional, Uganda has instructed on the application of IFRS for SMEs at the beginning of 2010. Uganda Security Exchange (USE, 2010) directed that all foreign or national companies listed on the stock exchange to comply with IFRS when the time of reporting was due. TANZANIA According to Tanzania’s National Board of Accountants and Auditors (NBAA, 2009), Tanzania shifted to IFRSs, IPSASs, and ISAs with effect from July, 2004. In that effect, compliance required all preparations of financial statements to be in accordance with the IFRS s no matter the size of the firm.Pacter (2010), observed that publicly accountable entities were required to use full IFRS including the entities that offer shares to the public, financial institutions such as banks, insurance, pension funds, mutual funds, security brokers or dealers. Also, entities that have essential public service such as utilities; and non-publicly accountable entities are permitted to use the IFRS for SMEs. In that case, all bodies using IFRS for SMEs should apply those pronouncements as issued by the IASB in full and without modification. CANADAIn January 2006, the Accounting Standards Board (AcSB) adopted a strategic plan for embracing IFRSs across the whole country for all public companies and other profit-oriented enterprises that are responsible to large or diverse groups of shareholders in Canada. From that time, AcSB proposed on its section 1506 to house the approval of IFRSs (Peter, Michael, and Ken, 2008, Deloitte, 2011). Peter (2008) recommended that: â€Å"The AcSB has recently confirmed January 1, 2011 as the changeover date to which IFRSs was supposed to replace current Canadian Standards and interpretations as GAAP† UNITED STATES OF AMERICAAICPA (2011) asserts that as far as the USA is concerned; the enforcement of IFRS has taken the following forms. From 2001 to 2004 USA has made effort to implement IFRS. In 2005; The Securities and Exchange Commission (SEC) released a roadmap allowing IFRS filings without GAAP reconciliation for foreign firms by 2009. In 2006; The IASB and the FASB agree to work on a number of major projects. In 2007; The SEC announced that it will accept from foreign filers in the U. S. financial statements prepared in accordance with IFRS, as issued by the IASB, without reconciliation with U.S. GAAP. Also, the SEC issued a Concept Release asking if U. S. public companies should be given an option to follow IFRS instead of U. S. GAAP. In2008;The SEC was expected to vote on a proposal creating a tim eline for moving U. S. public companies to IFRS, also, the FASB and the IASB updated the Norwalk Agreement with the goal of accelerating convergence. In 2009; the IASB ended its moratorium, set in 2005, on the required application of new accounting standards and major amendments to existing standards. The board had frozen its rules while more countries adopted IFRS.In 2011; Canadian and Indian companies are slated to begin using the global standards, and Japan was slated to have eliminated all major differences between Japanese GAAP and IFRS. In the United States, questions concerning IFRS are expected to be included in the Uniform CPA examination. Year 2013 is the earliest year projected by accounting firms for mandating that large U. S. public companies convert their financials to IFRS, year that the updated Norwalk Agreement expects all major capital markets to operate from one set of accounting tandards (AICPA, 2011). The year 2015 is earliest year the SEC would allow public com panies to convert their financials to IFRS (AICPA, 2011). JAPAN Japan financial reporting is guided by both international and domestic factors which fall under the Accounting Standards Board of Japan (ASBJ). From 2004 to 2010, the Japanese Institute of Certified Public Accounts (JICPA) along with ASBJ has made a tremendous move towards the harmonization between Japanese GAAP and IFRS. Some problems remained unsolved as they have to be worked on by 30 June, 2011 (Afaanz, 2011).According to ( Global Glimpses, 2009) and (Smart, 2012), Japan allowed a number of international companies the use of IFRS and some local companies to use them on their own choice for the year ending March 31, 2010. In 2012, the decision about the mandatory adoption of IFRS by 2016 is expected by the year 2013. HONG KONG Starting in 2005, Hong Kong Financial Reporting Standards (HKFRS) were made identical to the IFRS. While Hong Kong had adopted many of the earlier IAS as Hong Kong standards, some had not been adopted, including IAS 38 and IAS 39.All of the December, 2003 improvements and new and revised IFRS issued in 2004 and 2005 started taking effect in Hong Kong beginning from 2010. In 2005, implementing Hong Kong Financial Reporting Standards, the challenge sets out a summary of each standard and interpretation. The key changes it makes to accounting in Hong Kong, the most significant implications of its adoption, and related anticipated future developments. There are some Hong Kong standards and several Hong Kong interpretations that do not have counterparts in IFRS.Also there were several minor wording differences between HKFRS and IFRS (Deloitte, 2008 Tyrone, 2010). CHINA Chinese government had conducted series of accounting standard reforms in 1992, 2001 and 2006 in which each replaced the previous. According to Gingham and Haitao (2010) the Chinese accounting standards were considered to be in great conformity with IFRS. This developments confirm response to the emerging stock market and the increasing demand of foreign investors in China.Karthik, Donavan and Nancy (2005) and Romanna (2010) have however remarked that although in 2005 China converged with IFRS, but not in full compliance with IFRS requirements. The Chinese Accounting Standards Committee (CASC) is the body charged with developing accounting standards in collaboration with the Ministry of Finance (Elmer, 2011). CASC had issued new standards regarding cash flow statement, lease and other standards in conformity with the IFRS. In February 2006, the Chinese Ministry of Finance promulgated the introduction of Chinese Accounting standards based on IFRS.In January, 2007, China was obliged to adopt the IFRS so as to get placed into the global capital market (Zhang, Andrew and Collier, 2007). China is considered being the fourth world economy with far reaching economic effect regarding the application of IFRS. Afaanz (2011) argues that although China is adopting the IFRS there are challenges converg ing domestic standards with the IFRS expected to have been concluded by December 2011, and the application of IFRS to all companies big, small and medium effective January 2012.

Pied Beauty Analysis Essay

The title of the poem itself is a clear indication of what follows (â€Å"pied† meaning ‘of more than one colour’), a celebration of imperfection; of diversity. The poem opens with the poet praising and thanking God for spotted or dappled (imperfect) things, â€Å"Glory be to God for dappled things†. This one line alone sends the reader into contemplation—having always associated beauty with perfection, this makes one look at things from a whole new perspective; a perspective not tainted with the artificial and superficial human ideals about beauty. The poet then draws the reader’s attention to the ever-changing skies and compares them to a â€Å"brinded cow†. The poet uses a simile because, just like the cow, which is usually white with streaks of brown or black, the sky too is streaked with different colours: red, yellow, purple, blue, white and orange. And while most of us acknowledge the brilliance of the sky (â€Å"most of us† meaning those who take the time â€Å"to stop and smell the roses† as the saying goes) we rarely ever give a second thought to cows— let alone ever perceive them as an object of beauty. In our quest for ‘perfection’ we tend to overlook the earthly kind of beauty. But if perfection was the key word, then clear, blue skies should hold more appeal than cloudy, stormy ones; instead, though we might wish for one now and again, blue skies would bore us pretty soon; it is the variety that keeps us enthralled. Though the things described in the poem are normal, everyday things, it takes a poet’s eye to draw our attention to the everlasting, â€Å"real† beauty. For example, trout, which is mainly seen as a source of food, is described as something which would (or should) most definitely earn a second glance. The word ‘mole’ usually always invokes the ungainly imagery of warts, however, in â€Å"For rose-moles all in stipple upon trout that swim†, ‘rose’ is associated with ‘moles’, banishing all thoughts of ugliness and enabling the reader to be able to see the beauty in something as common as trout. â€Å"Fresh-firecoal chestnut-falls; finches’ wings†. Here, chestnut kernels are compared to smoldering embers; the reddish-brown meat inside the chestnut, being similar to the fiery reddish-orange hue of glowing coal. However this alliteration is contradictory since ‘fresh’ chestnuts are covered with spiky, green moss and are most definitely not like coal; it is only when they are ripe, and burst open when they fall to the ground, that the insides are revealed. While until now, the author had been mainly dealing with two colours, â€Å"Finches’ wings† brings to mind a great big melting pot of vibrant hues; the black and white wings, the sun glinting off their airborne feathers, transforming this common bird into a kaleidoscope of colours; a blur. This might also mark an end to the concrete references, since from the next line, things become more general and abstract (just like how one cannot pinpoint a single colour on the finches’ wings; therefore, their reference is also perhaps a glimpse of what follows†¦). Hopkins now talks about one of the most ancient and relevant occupations: farming. Farming is one occupation which brings humans closer to nature; helps them get in touch with their humble and down-to-earth side. However, we have now started seeing it as something mechanical; lifeless. The joy and exhilaration our forefathers used to link with this has given way to routine; we have started taking it for granted, which is why the poet feels the need to thank God for â€Å"Landscape plotted and pieced—fold, fallow and plough†(ALLITERATION), the result of a farmer’s daily toil. And though farming has changed the land and it no longer looks natural and unspoiled, it bears harvest, which gives way to joy. And now Hopkins talks about all the other trades that have brought us closer to Nature and God: â€Å"And all trades, their gear and tackle and trim†. Here the poet is also thanking God for all the little things that help us get by; things that we take for granted (when have we appreciated the fishing net, or the mining machines? ) The poet now moves on to â€Å"All things counter, original, spare, strange†; thereby effectively including every single component of nature. Here, the poet celebrates uniqueness as in â€Å"strange† or â€Å"original† and â€Å"spare† as in the context of being one of a kind, and balance in nature due to all things having an opposing creation-â€Å"counter†. This tone is continued in â€Å"Whatever is fickle, freckled (who knows how? ). Barely has the fact that fickleness in humans is something which is looked down upon registered, that one is hit by the realization that this very fickleness in nature is exactly what makes it so appealing in the first place. †With swift, slow; sweet, sour; adazzle, dim†. The poet uses these oxymorons to illustrate that it doesn’t matter if something is fast or slow, sweet or sour, because they all hold some intrinsic beauty. Here the author is once again celebrating fickleness in nature, for something which is sour, say, an unripe apple, can also be sweet, when given enough time, there are two sides to every coin ;but each form is as valuable as the other, for example, a river, in its early stage is swift and might seem exciting and alluring with its fresh water, but as it slows down, it is just as important, for now it deposits all of the goodness it carried along with it in its early stage; or take diamonds, those dazzling lumps of carbon are not any more important than graphite, which is just another form of carbon. The poet plays on all our sense by choosing these particular words. â€Å"He fathers-forth whose beauty is past change† This gives a sense of continuity, enforced by the words, â€Å"fathers-forth† the bond remains unbroken. The beauty of His creation is transitional; they do not end, but simply moves on to become something else. The concluding line â€Å"Praise him† is simply a reiteration of the first line and not in any way a reference to Christianity; â€Å"him† is simply God or whatever you would like to name the Divine Creator. The poem speaks of happiness; of finding joy in everything around you and being able to appreciate it. The usage of the hyphen in the first 3-4 lines is to link together words one would normally not associate with each other, thereby forcing the reader to revisit his views on the objects around him.

A Dream To Work In A Multinational Company Commerce Essay

A Dream To Work In A Multinational Company Commerce Essay it has always been a dream to work in a multinational company such as an oil and gas companies after my M.sc program in other to apply my skills learnt to the sector regarding business unethical practices and negligence of corporate social responsibility(CSR) by this companies in this sector. firstly it would be necessary to define CSR which is a situation where a company provides social benefit to the public which are required by law(Mc William and siegel 2001); while business ethics can be defined as† the study of business situation activities, decisions where issues of right and wrong are addressed † (Crane and Matten 2004;8) CSR is highly required all organizations to fill in the short coming of government and provide needs of a community. The aim and objective of this write up is to point out the unethical practices, negligence and ineffective deliverance of CSR by the MNCs focusing on oil companies in Africa to their host communities. Analysis Despite some positive influence of oil companies through CSR like increase in developmental funding in 2001 by $500m(Frynas 2005) previous studies has shown that there are still cases where CSR has not had effect on the required beneficiaries through ineffectiveness , negligence and unethical practices by the companies. This can be proven through various situations in Africa has discussed it the course of this report , it can be seen that most CSR embarked upon by the MNCs are due to public and global pressure such case is that of shell and Ogoni , when visited by observers it was seen that the lack social amenities like Roads and electricity e.t.c.( World Business Council for Sustainable development 2008) despite this protest oil producing regions have not yet benefited from the wealth and are still left in poverty. In a statement by president of movement of survival of Ogoni people (mitte 1995) he says that the communities where not getting enough required social and infrastructures development, he al so pointed out that the companies are taking from the communities and not putting back into it and left in total neglect. this shows a great cases of negligence of CSR to their host environment which they are benefiting from financially, there also citing of abandoned projects which are meant to serve as CSR to the community example is an hospital abandoned by shell in Okoroba village Bayelsa for many years bust was completed due to pressure(Fryans 2005) this suggest that they don’t have good management or department to ensure that project that have been embarked upon by them are not left alone, some previous events indicates that CSR was adopted not for the benefit of the communities but for that of the companies so has to have competitive advantages and get favors from government representatives, In a report ChevronTexaco made a partnership deal of $50million with Us Agency For International Development (USAID) and United Nations Development Program (UNDP) in Angola to coin cide with negotiations for it block O (Fryans 2005) another example is in Ughoton Nigeria (SPDC) built roads and also provided funds for schools and youth empowerment in the village but as soon as it well stop producing oil they also stopped their various projects (okunmadewa et al 2002,p 63) . it shows that it was not meant to benefit to society but the company because it made them look like a company that support development and if the negotiation did not fall through they might have withdrawn their partnership another case is of shell who grant development fund to it managers to put up projects in regions which it has activities so has to maintain peace between them and the communities once this activities are complete it development account is closed and the project are left alone which ever stage it has gotten too. evidence of non functioning project like that of shell which one-third of it project in Nigeria not running or are in operation(Nigeria and shell 2001) duo they are trying to help there is no sign if development due to the lack of smooth operations of this projects. lack of trained managers in CSR has made it difficult for most developmental plans see the light of day Frayans(2005) also confirmed this saying † major contract managers are not development specialist† and even if trained might be wrongly trained for instance British petroleum sent it managers to acquire skills on development in a business school instead of a development school Fraynas(2005) which would put them through all the stages of development , failure to have specialist and conduct investigation relating to what is required could make the aim of CSR not to be achieved e.g. in Angola BP donated condoms during a campaign for AIDS but without adequate investigation and consultation the aim of CSR was not met because the condoms where too small for African men (Fraynas 2005). There has also been cases relating to un ethical practices by the oil companies causing har m and increase level of poverty in the regions which they operate such as Niger Delta according to Eyina and Ukpo(2006) they state that † it will be correct to indicate that the greatest environmental problem with petroleum industry in Nigeria result from spillages†; In the early part of 2008 alone Nigeria recorded 418 spills(Vanguard Oct.29,2008) which affects the ecosystem and increases poverty due to the fact that most people in that region are farmers and fishermen. Further evidence of unethical practices can be seen in the technological method of production adopted by them which releases poisoned gas like CO2 and CO into the atmosphere(Aigbedion et al 2007) also Eyinla and Ukpo(2006) supported this by saying that the †soil ,rivers and creeks are now acidic†. which had influence the people indirectly because there drinking water and fishing occupation have been destroyed impact of oil exploitations has caused the soil not be good for planting and the wate r is contaminated with oil (Adepelum et al 2006).A report by Niger Delta Environmental Survey indicates that drilling activities in Niger delta has negative impact both † socio-economically and ecologically† (Nigeria Sunday Times 1998), Aigebedion(2005) also confirmed this that oil spillages has caused †ecological disturbance† .

GEOL Assignment Example | Topics and Well Written Essays - 500 words - 1

GEOL - Assignment Example The more dense plate goes below the less dense one. The other two are the oceanic-continental and the continental-continental. They also occur when both plates strike each other (Tarbuck, Lutgens, & Tasa, 2014). 4.) The feature labeled "C" is a 3000-foot tall mountain with a slope angle of about 30 degrees. What type of volcano would this likely be, and what sorts of volcanic hazards might you expect to be exposed to if you lived near it? The air eruptions present a significant hazard to pilots. The reason is once the explosion occurs, the high temperatures can melt the particles and as they change the shape of the turbine blades, they disrupt the operations of the turbine. Thus, it distracts pilots of airplanes or jet and can cause major crashes. The distraction in 1989 in Indonesia raised such an alarm. In case of an explosion, it could result in deaths or injuries. The erupted solid can travel faster than the humans escape, or it could be that the fluid covered the whole area. A similar occurrence is the one in Zaire at

An Evolving Industry Essay Example | Topics and Well Written Essays - 500 words

An Evolving Industry - Essay Example The following image shows the nude picture of the hot Bollywood actor, Neil Nitin Mukesh, who went completely nude for a scene shot in jail for Madhur Bhandarkar’s movie. The picture was released much before the movie. Picture of nude Neil Nitin Mukesh released before the movie (gobollywood.com, 2009). This has left the producers with no option but to make movies with more realistic and intelligent subjects than sex. Sex is no longer one of the powers of movies. To retain the power of porn in movies, producers have to take a lot of pain, as Rijsbergen says, Time has come to start a new movement inventing new images of sexuality and pornography. Time has come for a new Jan Wolkers, male or female, someone who can write powerful stories of authentic sexuality. Time has come for all kinds of individuals in the media, art and literature to invigorate the tired imagery of commercial porn. (Mystery Man on Film, 2007). Producers have started to make excellent use of technology for ma ss destruction particularly in action movies like Matrix and Spiderman. With the availability of all types of technologies, film producers are in a position to portray their wildest fantasies about action.

Macro Economics Assignment Example | Topics and Well Written Essays - 500 words - 1

Macro Economics - Assignment Example The ECB is thinking of buying corporate bonds as an option if it believes that more measures are needed to increase money into the European economy. Though such an idea does not seem to be imminent, investors snapped up stocks and sold the euro based on ECB’s thinking. Investors are moved by signs that ECB is considering more policy measures to increase money in the European economy if current measures such as low interest rates, new bank lending facility as well as a program to buy particular types of debts fail to boost economic growth and inflation. France’s CAC 40 went up by 2.3 percent and Germany’s DA rose by 1.9 percent. In the same vein, Spanish stock rose by 2.4 percent and Italian stock went up by 2.8 percent. The ECB’s current initiatives are geared toward adding money supply to the economy by increasing the amount of assets on its books. ECB creates new bank reserves by printing money to purchase assets. The graph below shows there is a decrease in money supplied in the European economy. The European Central Bank (ECB) has to put into play policy measures that will move the graph to the right as shown by the arrow. These measures include low interest rates, buying of corporate bonds as well as new bank lending facility which will add money to the economy and push the graph to the right in order to boost economic growth and inflation. The nominal interest rate must decrease to encourage the demand for money back to the equilibrium. It is worth to note that an decrease in the nominal interest rate will decrease the demand for savings and so increase the demand for money. Cox, Josie and Blackstone, Brian. â€Å"European Stocks Jump as ECB Mulls Buying Corporate Bonds† http://online.wsj.com/articles/european-stock-markets-edge-higher 1413878920?mod=WSJ_hp_LEFTWhatsNewsCollection (accessed October 21,

Religious diversity in Saudi Arabia and US Speech or Presentation

Religious diversity in Saudi Arabia and US - Speech or Presentation Example Saudi Arabia offers lesser freedom of religion to the residents as compared to the USA. The practice in Saudi Arabia is that all shops are closed during the times of prayers, so as to discourage the people from engaging themselves in other businesses while the call for prayer is made through Azan in the mosques. While scheduling business-related matters in Saudi Arabia, non-Muslims have to play special attention towards this matter because their Muslim partners would not be available at these particular times at least for the duration of Salat in the mosques. On the other hand, in the USA, all shops remain open irrespective of the time of prayers in any religion, be it Islam or Christianity or any other religion. Government may impose restrictions but they are for other kinds of reasons like saving power, and are not grounded in any religion. Another factor that elaborates lesser freedom of religion in Saudi Arabia than the USA is the fact that there are no churches in Saudi Arabia w hereas in the USA, there are churches, mosques, synagogues, and Temples to entertain the religious needs of all of the communities that make part of the American society including the Christians, Muslims, Jews, and Hindus etc. Presently, Saudi Arabia does not have any official churches with a Christian denomination. Lack of official churches makes it very difficult for the Christians to conduct religious meetings and acts. The Christian community living in Saudi Arabia conducts private meetings for the religious affairs. The usual practice for the foreign Christians living in Saudi Arabia is that church meetings are arranged in one of the embassies. Christians can attend those meetings after registration and proving their foreign nationality. Sometimes, church meetings are also conducted at private assemblies arranged in the gyms of the schools. Many Christians conduct religious services at one another’s residences. Although Muslims make a sizeable portion of the American soc iety, yet the Americans have many suspicions, doubts, and confusions about the religion Islam. These confusions, in part, are grounded in the fact that the way of life taught by Islam to its followers is very much different from the traditional American lifestyle. The non-Muslim Americans find a lot of restrictions in Islam upon things that make part of their everyday life of many of them. Such things include but are not limited to consuming alcohol, eating pork, socializing with the opposite gender without significant physical boundaries and physical interaction with them, the girlfriend-boyfriend culture, same sex marriages, and cohabitation. When a non-Muslim American observes that everybody but practicing Muslims consumes alcohol freely in parties, visits night-clubs, and has a girlfriend or a boyfriend, he/she thinks of the practicing Muslims as people out of this world. Some may think good of them while others may have negative perceptions about the Muslims, but one thing that is a common observation among a vast majority of the non-Muslim American community is that Muslims in general and the practicing Muslims in particular have a very different lifestyle from theirs, and the source of this difference is Islam. Apart from this observation, another factor

History Today Essay Example | Topics and Well Written Essays - 1250 words

History Today - Essay Example The causal ordering follows to provide modal categories for the factual propositions. In this system the logical contradiction is resolved by ordering the factual propositions. These will be according to the causal categories. 1 The counterfactual cause involves the unconventional views from the point of Niall Ferguson a Scottish Historian. These views are regarding the imperialism and the origins of conflict in the twentieth century. He is a specialist in financial and economic history. His recent publication is ‘The War of the World† in 2006. He has become historian inspired by AJP Taylor. Ferguson’s significance lies in his well versed nature in economic matters as he was in history matters. He wrote a book named cash nexus arguing that the money makes the world go around is wrong and proved that the human actins are more important for history to go around. He feels that the US is not sufficiently in the affairs of the world. In his books Colossus and Empire, he shows potential virtues of US when compared to British Empire. He also analyzed the World War I that generated much controversy. In that he suggested that it could have been more beneficial to Europe if Britain has stayed out o f the war by Germany making a win. 2 2.1Fergusson’s Significance: He is considered as a leading champion of counterfactual history that involves the counterfactual cause. It is because he likes to imagine alternative outcomes as a way of stressing the contingency aspects in the history. According to his counterfactual causal analysis of history, the great forces are not only responsible for the history and in fact the individual’s doings pre determine the course of history. He argues that the world is neither progressing nor regressing. His view is that the actions of individuals will determine the better or worse world. His book the war of the world explains the violent 20th century. According to his argument the economic volatility, ethnic

NHS Care Records Service Failure Case Study Example | Topics and Well Written Essays - 1750 words

NHS Care Records Service Failure - Case Study Example This would have allowed for ease of treatment, while at the same time allowing for easier and convenient collection of health data for research and planning by the health department (NAO, 2006:7). Further, the involvement of several local service providers through contracting four different firms was a noble idea, since it was meant to forestall the complete delay or failure by a single service provider. However, the major weakness associated with this strategy of contracting is that the different local service providers would easily fall out of the central monitoring of the Department of Health and the relevant agency (NHS Connecting for Health Agency (CfH), resulting in the failure of the programme due to weaknesses in coordination of the multiple implementers of the programme (King & Crewe, 2013:24). The Contingency Theory of Management provides that managers make decisions regarding issues facing an organization based on the situation at hand, as opposed to the application of a ’one-fits-all’ approach (Seyranian, 2009:153). Thus, according to this theory, a manager will take a management decision based on the most important aspects facing the organization at the moment. Therefore, this theory provides that different managerial positions will demand a different form of approach while making decisions for the organizations. For example, while a manager who is responsible for managing a higher institution of learning such as a university may prefer to apply a consultative approach, a manager managing a military camp will mostly be suited to adopting an autocratic approach (Seyranian, 2009:155). Thus, the NHS Care records service failure is an example of a management situation where the Contingency Theory of Management became applicable. The National Programme for IT (NPfIT) was dismantled in June 2013, after a period of more than 10 years in operation, having not satisfactorily delivered the targeted objectives of the program (CAP, 2013:5).

Management Information System and Users Essay Example for Free

Management Information System and Users Essay Every person in the organization is a user of the MIS. The people in the organization operate at all levels in the hierarchy. A typical user is a clerk, an assistant, an officer, an executive or a manager. Each of them has a specific task and a role to play in the management of business. The MIS caters to the needs of all persons. The main task of a clerk is to search the data, make a statement and submit it to the higher level. A clerk can use the MIS for a quick search and reporting the same to higher level. An assistant has the task of collecting and organizing the data, and conducting a rudimentary analysis of integrating the data from different and disciplines to analyze it and make a critical comment if anything adverse is found. The MIS offers the methods and facilities to integrate the data and report the same in a proper format. An executive plays the role of a decision maker. He is in of responsibility and accountability a position of a planner and a decision maker. He is responsible for achieving the target and goals of the organization. The MIS provides facilities to analyze the data and offers the decision support systems to perform the task of execution. The MIS provides an action Ââ€" oriented information. The manager has a position of responsibility and accountability for the business results. His management role expands beyond his management function. He is a strategist and a long-term planner. He is a person with a foresight, an analytical ability and is expected to use these abilities in the functions of top management. The MIS provides information in a structured or unstructured format for him to react. The MIS caters to his constant changing needs of information. The user of the MIS is expected to be a rational person and the design of the MIS is based on this assumption. However, in reality the impact created on individuals by MIS is difficult to explain. The nature of the impact in a few cases is negative. However, this negative impact can be handled with proper training and counseling. It is observed that at lower level, is a sense of insecurity. As the MIS takes away the drudgery of search, collection, writing and reporting the data, the work vacuum, so created is not easily filled, thus creating a sense of insecurity.

St Thomas Aquinas Five Ways Philosophy Essay

St Thomas Aquinas Five Ways Philosophy Essay St. Thomas Aquinas is most famous for his Five Ways. He regarded that the ontological argument as invalid. We cannot prove that God exists, merely by considering the word God, as the ontological argument in effect supposes. For that strategy work, we would have to presume to know Gods essence. The proposition of God exists is not self-evident to us mere mortals. Although people can prove Gods existence in several ways, we cannot do it just by examining the concept of God. We have to consider what it is about nature that makes it manifest that it requires God as its original cause. According to Aquinas, the existence of God can be proved are in fact five, and it is his most famous Five Ways The first way to prove that God exists is to consider the fact that natural things are in motion. According to Aquinas, a first mover must exist. If first mover do not exists, there would be no other mover and nothing would be in motion. It means all the natural things are in motion, and it needs another moving thing to move it. As we look around the world and survey move things, it becomes clear that they do not put themselves into motion. But all things are all in motion, and they cannot move by their own, therefore, a first mover must exist and it is not moved by other, and that thing is God. The most important idea Aquinas wants to say is that things do not put themselves into motion, do not suppose that he thought that people cannot get up out of their chair and walk across the room. He means that things do not just bring themselves into existence, there must be someone put themselves into motion. The second way of proving Gods existence is kind of similar to the first one. Aquinas says in the world of sensible things, nothing causes itself. It means everything is causes by something else. It has to be a first cause, if there have no first cause exist, there would be no first effect. In fact, there would be no second or third effect either. If first causes must exist, then we must admit that is God. Aquinas did not say anything in either of the first two proofs about things being moved or caused by earlier motion or causes. The various motions and causes he is talking about are simultaneous. In Aquinass opinion, there is no philosophical reason that the chain of causes could not go back infinitely. But there cannot be an infinite series of simultaneous causes or movers. His argument is that things must be causes by something earlier, and because this chain of causes cannot go back infinitely, therefore, it must have a first cause, and it is God. The Big Bang theory is a good example to proof Aquinass theory. The Big Bang is accepted by most scientists that the universe is an explosion. The Big Bang is the beginning of space and time of matter and energy, and it is the beginning of our expanding universe. But the universe does have an absolute beginning, which was a first physical event. It is difficult to believe that the first physical event has no explanation, for that amounts to saying that the entire universe is just a chance occurrence. If the physical event is explicable, then it would seem that the explanation must refer to some sort of nonphysical phenomenon, which is God. The third way is the most complicated of the Five Ways, God is the necessary of our being existence. Aquinas says everything can lay our hands on belongs to need-not-exist category, if everything belongs to this category, then at one time nothing existed, and then it would have been impossible for anything to have begun to exist, and thus even now nothing would exist. There must exist something the existence of which is necessary. Aquinas believed that he had not yet ruled out the possibility that the necessity of this necessary being might be caused by another necessary being, whose necessity might be caused by another. He asserted that it is impossible to go on to infinity in necessary things which have their necessity caused by another. Therefore, he concludes that there must be some necessary being that has its own necessity, and that is God. Aquinass first three proofs of Gods existence are versions of what today is called the cosmological argument. The cosmological argument is actually not one argument but a type of argument. This type of argument means that the existence of contingent things, things that could possibly not have existed, points to the existence of a noncontingent or necessary being, God, as their ultimate cause or source of being. Aquinass fourth way to prove God is the gradation to be found in things. It has to consider the fact that all natural things possess degrees of goodness, truth, nobility, and all other perfections. The gradation in things in the sense that something can be more good. Therefore, there must be that which is the source of these perfections, namely, pure goodness and truth, and this is what we call God. The fourth proof about the existence of goodness or good things is called the moral argument. This argument is supporting the existence of God, it argues that God is the best and is the only explanation for morality. God is the best moral for everything; God must exist to support that moral order exists. The last way to proof of Gods existence is predicated on the observation that natural things act for an end or purpose. That is, they function in accordance with a plan or design. Accordingly, an intelligent being exists by which things are directed toward their end, and this intelligent being is God. Arguments like Aquinass fifth proof, according to which the apparent purposefulness or orderliness of the universe or its parts or structure points to the existence of a divine designer, are called teleological arguments. The teleological argument suggests that, given this premise, the existence of a designer can be assumed, typically presented as God. According to Aquinas, some theological truths, truths of revelation, are such that philosophy could never discover them. For example, philosophy cannot establish that the universe had a beginning and is not eternal. And not everything discovered by philosophy is important for salvation. But philosophy and theology, although separate disciplines, are not incompatible, they complement each other. From standpoint of theology, that God exists is a given, a truth that people start out knowing. Thus, Aquinass proofs of Gods existence are philosophical proofs. They do not depend for their soundness on any religious principles.

President Bushs War on Iraq Essay examples -- Argumentative Persuasiv

President Bush's War on Iraq Introduction: Since the war on Iraq began on March 20, 2003, at least 1,402 coalition troops have died and 9,326 U.S. troops have been wounded in action. This is no small number and the count grows daily. One would hope, then, that these men and women were sent to war with just cause and as a last resort. However, as the cloud of apprehension and rhetoric surrounding the war has begun to settle, it has become clear that the Bush administration relied on deeply flawed analyses to make its case for war to the United Nations and to the American people, rushing this country, and its soldiers, into war. This is not to say that this war was waged against a blameless regime or that our soldiers have died in vain. Rather, that the Bush administration took advantage of the vulnerability and solidarity of the American people following the attacks of September 11 to create an environment in which any scrutiny of the justifications given for war was deemed unpatriotic and a threat to our nation’s security. In this way, the war, and Bush’s bid to maintain power through the 2004 election, went forward despite evidence that the reasoning behind going to war was, at best, misleading. The Case for War: The case for war put forward by the Bush administration rested on the establishment of Iraq as an imminent threat to the United States’ national security (see Table 1), which could only be lessened by attacking Iraq and toppling Saddam Hussein’s regime. In outlining the Iraqi threat, the Bush administration brought together two incidents—the September 11 attacks by Al-Qaeda and U.N. efforts to disarm Iraq following the Gulf War—which in reality had nothing to do with one another. The logic went ... ...ushed forth their own war by misleading the American public into believing an Iraqi threat was imminent and by taking advantage of the willingness of the American people to find strength in their American identity following the attacks of September 11. In such a climate, the path to war was not laid down by reason or necessity, but by the hawkish vision of those in power, who by coupling fear and nationalistic sentiments with a questionable body of intelligence, convinced the majority of the American people and their elected representatives that the time for war was now and the cause of war was just. In the face of such self-serving leadership, it is up to the American people to take back their democracy. The first step is to rekindle the spirit behind Thomas Paine’s reflection, â€Å"It is the responsibility of the patriot to protect his country from its government.†

Mars: A Last Frontier Essay -- Exploratory Essays Research Papers

Mars: A Last Frontier ABSTRACT: In this paper, I will attempt to present a general discussion of Mars and attempt to explain some of the history and reasons why Mars has been a fixture of human imagination. Ultimately, I hope that my overview will help the reader understand Mars and what is fact and science fiction concerning the possibilities of traveling, living on, and discovering life on Mars. Mars has once again gained national notoriety and graced the front pages of many popular magazines in recent months. The possibility that life existed on Mars has gotten the science community in a frenzy over renewed possibilities for continued exploration of this mysterious planet. New evidence of life on Mars is hinged on the conjecture that water once was abundant in the Martian atmosphere. The quest to prove that water and discover if life did exist has spurred international cooperation in sponsoring various missions to Mars. Curiosity about Mars is not a new phenomena. In fact, Mars has been present in literature, film, and radio for hundreds of years. Perhaps, one of the most poignant examples of Martian influence in our the world's media is the radio adaptation of H.G. Wells' The War of the Worlds given by Orson Welles. Welles, in this fictional address intended to sound like a broadcast, reported that Martians had landed at Grovers Mill, New Jersey. Welles conveyed that the world would meet impending doom (http://humbabe.arc.nasa.gov/mgcm/fun/pop.html). Thousands of Americans who tuned in after Welles explained to the audience was fiction believed that New Jersey had truly been invaded, and a brief panic ensued. Welles rectified the crisis by reiterating that the address was absolutely untrue. However, the panic inci... ...ize the planets magnetic fields and ultimately help determine the planet's core temperature, and lastly the Mars Orbiter Laser Altimeter (MOLA) which will measure the height of the Martian surfaces by rapidly firing infrared light and measuring the time it takes for the light to be reflected back to the spacecraft (http://mgs-www.jpl.nasa.gov/mgs/mgsbroca.html). These new technologies will hopefully provide new insight into the mysteries of this planet. People in the space program are very optimistic about what this unmanned series of missions to Mars over the course of the next decade will yield. Research universities, NASA and aerospace firms hope to eventually send humans to Mars and possibly even colonize the planet (Begley, p.54). The turn of the next century will be an exciting time for the space industry as science fiction very well may become a reality.

How the U.K. Labour Market Has Changed Over The Last 20 Years :: Employment Unemployment Economics Essays

How the U.K. Labour Market Has Changed Over The Last 20 Years The different types of Unemployment There are many different types of unemployment, these are: frictional unemployment, structural unemployment, seasonal unemployment, classical unemployment, and demand deficient unemployment. Frictional unemployment is unemployment for a short duration of time as workers move from one job to another. Over the last 20 years information has improved and people are more aware of the availability of better paid job, promotions etc and hence they may be moving form job to job more often hence increasing temporary frictional employment. Structural unemployment is caused by a lack of capital for goods and services in the economy or a particular sector. As the structure of an economy changes, certain workers may find themselves made redundant as their skills are no longer required, or that the region in which they live does not have enough employment opportunities. An example of this is the British ship building industry, which has contracted to the extent that workers with skills appropriate to this industry either cannot find jobs at all or must migrate to find them. Structural unemployment will be affected by the cost and availability of retraining, which would allow people to acquire skills which will be useful to them in filling the vacancies which are available. The ease of relocation within the country will also have an effect on structural unemployment. As the economy moves according to the business cycle, there are booms and recessions, and this is reflected in output and unemployment over the last 20 years structural unemployment has fluctuated accordingly due to the lack of capital, with recession in the early 1990's and high structural unemployment and booms in recent past with low structural unemployment. The lack of employment at this time is due to the lack of money to invest and expand, and as a result output is greatly reduced. However, nowadays, unlike the past 20 years, credit is now available much more easily for companies through banks and building societies so not as many employees are affected by structural unemployment. Demand deficient unemployment is caused by a lack of demand. Keynes believed that unemployment had more to do with the goods market than the labour market. Low demand in the goods market would mean low overall output, and therefore low demand for labour, over the last 20 years, demand has raised overall hence demand deficient unemployment will reduce. During times of recession there is very little output and not many people are needed in the workforce. This leads to high unemployment levels. This situation arose in the late 1980s and early 1990s, when there was a recession. How the U.K. Labour Market Has Changed Over The Last 20 Years :: Employment Unemployment Economics Essays How the U.K. Labour Market Has Changed Over The Last 20 Years The different types of Unemployment There are many different types of unemployment, these are: frictional unemployment, structural unemployment, seasonal unemployment, classical unemployment, and demand deficient unemployment. Frictional unemployment is unemployment for a short duration of time as workers move from one job to another. Over the last 20 years information has improved and people are more aware of the availability of better paid job, promotions etc and hence they may be moving form job to job more often hence increasing temporary frictional employment. Structural unemployment is caused by a lack of capital for goods and services in the economy or a particular sector. As the structure of an economy changes, certain workers may find themselves made redundant as their skills are no longer required, or that the region in which they live does not have enough employment opportunities. An example of this is the British ship building industry, which has contracted to the extent that workers with skills appropriate to this industry either cannot find jobs at all or must migrate to find them. Structural unemployment will be affected by the cost and availability of retraining, which would allow people to acquire skills which will be useful to them in filling the vacancies which are available. The ease of relocation within the country will also have an effect on structural unemployment. As the economy moves according to the business cycle, there are booms and recessions, and this is reflected in output and unemployment over the last 20 years structural unemployment has fluctuated accordingly due to the lack of capital, with recession in the early 1990's and high structural unemployment and booms in recent past with low structural unemployment. The lack of employment at this time is due to the lack of money to invest and expand, and as a result output is greatly reduced. However, nowadays, unlike the past 20 years, credit is now available much more easily for companies through banks and building societies so not as many employees are affected by structural unemployment. Demand deficient unemployment is caused by a lack of demand. Keynes believed that unemployment had more to do with the goods market than the labour market. Low demand in the goods market would mean low overall output, and therefore low demand for labour, over the last 20 years, demand has raised overall hence demand deficient unemployment will reduce. During times of recession there is very little output and not many people are needed in the workforce. This leads to high unemployment levels. This situation arose in the late 1980s and early 1990s, when there was a recession.

Journey Essay

English Speech- Journeys â€Å"To travel hopefully is a better thing than to arrive. † In other words a journey and the experiences you have are better than the actual destination. The novel â€Å"The Adventures of Huckleberry Finn† by Mark Twain and the poem â€Å"The Road Not Taken† by Robert Frost have taught me that journeys may involves barriers and hardships, they can lead to significant personal change and more importantly journeys facilitate reflection about how you see yourself, others and the world. Journeys are very important in personal change and growth.They can also help us in comparing and contrasting new and old experiences. Journeys may involve many barriers and hardships and overcoming them can lead to personal change and growth. â€Å"The Adventures of Huckleberry Finn† is an episodic novel that involves the physical and emotional journey Huck and Jim Take down the Mississippi River. Jim is an African American slave who escapes and joins Huck on his adventure. The river symbolises the physical journey they both take and along this journey they discover many barriers and hardships. These barriers and hardships are both emotional and physical.This is evident when Huck is torn between following society’s rules (turning Jim in) or following his heart (helping Jim escape). Huck has come to an obstacle on the journey and has to try and overcome it. He has to make a decision on which ‘path’ he will take. Huck constantly battles with trying to decide what’s wrong from right and asking himself is he doing the right thing. Even though Huck see’s Jim as a friend he still carries on society’s values of racism and prejudice. Twain uses irony and satire to show how society is stupid, racist and oblivious to how they treat others.This is seen when the reward for the capture of Jim is higher than the reward for pap. Society sees that the escape of a slave is far worse than murder. Likewise, â€Å"The Road Not Taken† also demonstrates that journeys may have barriers and hardships. The poem represents how sometimes people who are on life journeys come to a fork in the road or a decision that they have to make. The traveller wants to take both paths but he can’t. He has to weigh up his decision and go with it. Robert Frost uses the path to symbolise the journey the traveller goes on and to create and image for the reader.Repetition and punctuation is also used to create emphasis and to reinforce what has been said. As Robert Frost states ‘Oh I kept the first for another day! Adding and exclamation mark at the end of the sentence. The repetition of the word ‘and’ in the first stanza also adds emphasis. Journeys facilitate reflection about how you see yourself, others and the world. I believe that a journey gives you the opportunity to really see everything in a different light. Journeys may involve obstacles and with these difficulties peo ple experience new situations and therefore change.Whether that be physically, emotionally or psychologically. A journey also assists with the comparison of yourself, others and society. In â€Å"The Adventures of Huckleberry Finn† Huck gets to experience life on a whole new level. He learns how wrong and prejudiced his society Is and how life on the raft is far better in comparison to life on shore. This is shown when Huck is so infatuated with the freedom and care-free nature of life on a raft compared to the cruel, racist and unjust way of life on shore. As Huck states ‘you feel mighty free and easy and comfortable on a raft’.Mark Twain uses juxtaposition and again symbolism to compare and contrast the difference between life on shore vs life on the raft. Twain describes the town life as harsh, dirty and confined in comparison to the life on the shore as care-free, relaxed and independent. This highlights how good life on the raft is. The journey Huck and Jim take allows for both of them to reflect and compare life on shore in comparison to life on the raft. Huck and Jim don't have to follow society’s rules they are free and with freedom comes opportunity to explore and experience many things they normally wouldn’t get to do.In addition, â€Å"The Road Not Taken† also shows us how journeys allow for our reflection on many things. In the poem the traveller experiences an obstacle or fork in the road. This allows the traveller to take in his surroundings whether that be the path ahead or the people around him. This is shown when he states ‘two roads diverged in a yellow wood’. The traveller has two options and to make a decision he has to really explore both of them. Robert Frost uses this poem to express his belief in not always following the crowd and being an individual.Robert Frost uses conversational language to create a sense of communication between the traveller and the reader and to enlighten the reflection that the traveller has made. After comparing both paths and seeing every option his reflection about his journey changes. The traveller decides to go with the path less travelled. He decides to be different. Journeys can lead to significant personal change. The experiences you have on a journey can shape and change your perception of yourself and the people around you. In ‘The Adventures of Huckleberry Finn’ this is shown when Huck’s beliefs change and he becomes more mature.Huck and Jim’s relationship also develops throughout the journey. Huck’s perception of Jim at the beginning of the journey is very different compared to the end. At the start Huck doesn’t take Jim very seriously and has no compassion or respect for him. The influences of society have taught him that Negro’s are useless and unintelligent. Jim still has feelings and emotions and throughout the journey Huck still feels he has to lower himself to talk to Jim . Huck learns from the experiences they have encountered that Jim is exactly the same as himself.Huck’s beliefs and values change and this is shown when Huck states ‘I do believe he cared just as much for his people as white folks does for their’n. It don’t seem natural, but I reckon it’s so’ Huck eventually notices that Jim is in fact just the same as him. Journeys are very important in shaping, changing and discovering the world around you. â€Å"The Adventures of Huckleberry Finn† and â€Å"The Road Not Taken† have taught me that a journey maybe involve barriers or hardships, a journey can facilitate reflection about yourself, others and the world and lastly a journey can lead to significant personal change.

A Research Proposal on the International Branding

Elite branded products try to catch the attention of the public by attempting to sell a dream, which is done by attempting to discern the most common inner desires of the targeted consumer market; once this is done, the brand tries to enlist the services of a highly admired or a highly controversial individual to add effect to the aura or concept being portrayed by the brand.Hiring a celebrity is a venture that a known fashion brand has every capability of doing. Celebrity endorsement of luxury fashion is understood to be of great importance nowadays since when a celebrity is linked to a specific brand, the concept being created projects to have the approval of an icon, hence creating an image that it is classy; and any consumer who will buy that product will end up being closely similar to that particular icon or role model.The endorsement of luxury brands by icons is undoubtedly a trump card which could be used, if the said asset is efficiently utilized the resulting outcome almost always results to long term benefits like brand loyalty and brand equity. This phenomenon would in the long run produce a higher profitability and an increased brand value (Ukonkwo, 2007).However, it should be remembered that whoever the celebrity endorser the verdict of the consumer concerning their decision to buy or not to buy merchandise would all rest on the quality of the merchandise being sold.If the merchandise does not have anything that would sustain the initial impression created by the celebrity endorsement, like when the merchandise has poor quality or lacks the concept of genuineness then what would happen is that the clientele would no longer patronize the product. In order for a fashion brand to stay on top it has to be more than a symbol of greatness, it also has to be great if it is to withstand the stiff competition in the market.Statement of the ProblemFor the purpose of this research, the study aims to answer this question:What are the international branding st rategies of elite branded products in the United Kingdom?Definition of the Research QuestionElite designer brands are distinguished by their unique innovations which are almost always the first of its kind, their expertise, and their exclusive position in the market.   Elite fashion brands such as Giorgio Armani, Gucci, and the likes have a significant market share due to their clever marketing that allows them to present their merchandise in an attractive â€Å"must have† commodity.To maintain the continuity of   their   operations, famous clothing brands tend to attend to the concept of â€Å"customer focus† instead of concentrating on the idea of a timeless, spaceless and emotionally-charged ideas that fix meanings to intangible personal attributes like freedom, love, or family although these ideas have in their own right a universal functionality; known Fashion brands have the capability to somehow ensure the stability of current fashion trends by exerting co ntrol over consumer valuations.Research ObjectivesFor the purpose of this study, the research aims to:To provide a theoretical foundation of international branding. To provide a theoretical foundation of international branding strategies of elite branded products. To identify the international branding strategies of Giorgio Armani and Gucci. To provide recommendations in order to improve the international branding strategies of Giorgio Armani and Gucci. A Research Proposal on the International Branding Elite branded products try to catch the attention of the public by attempting to sell a dream, which is done by attempting to discern the most common inner desires of the targeted consumer market; once this is done, the brand tries to enlist the services of a highly admired or a highly controversial individual to add effect to the aura or concept being portrayed by the brand.Hiring a celebrity is a venture that a known fashion brand has every capability of doing. Celebrity endorsement of luxury fashion is understood to be of great importance nowadays since when a celebrity is linked to a specific brand, the concept being created projects to have the approval of an icon, hence creating an image that it is classy; and any consumer who will buy that product will end up being closely similar to that particular icon or role model.The endorsement of luxury brands by icons is undoubtedly a trump card which could be used, if the said asset is efficiently utilized the resulting outcome almost always results to long term benefits like brand loyalty and brand equity. This phenomenon would in the long run produce a higher profitability and an increased brand value (Ukonkwo, 2007).However, it should be remembered that whoever the celebrity endorser the verdict of the consumer concerning their decision to buy or not to buy merchandise would all rest on the quality of the merchandise being sold.If the merchandise does not have anything that would sustain the initial impression created by the celebrity endorsement, like when the merchandise has poor quality or lacks the concept of genuineness then what would happen is that the clientele would no longer patronize the product.In order for a fashion brand to stay on top it has to be more than a symbol of greatness, it also has to be great if it is to withstand the stiff competition in the market.Statement of the ProblemFor the purpose of this research, the study aims to answer this question:What are the international branding str ategies of elite branded products in the United Kingdom?Definition of the Research QuestionElite designer brands are distinguished by their unique innovations which are almost always the first of its kind, their expertise, and their exclusive position in the market.   Elite fashion brands such as Giorgio Armani, Gucci, and the likes have a significant market share due to their clever marketing that allows them to present their merchandise in an attractive â€Å"must have† commodity.To maintain the continuity of   their   operations, famous clothing brands tend to attend to the concept of â€Å"customer focus† instead of concentrating on the idea of a timeless, spaceless and emotionally-charged ideas that fix meanings to intangible personal attributes like freedom, love, or family although these ideas have in their own right a universal functionality; known Fashion brands have the capability to somehow ensure the stability of current fashion trends by exerting con trol over consumer valuations.

Healthcare and Communication Essay

Abstract Healthcare is a continuous growing field, within this field you are faced with many diverse cultures that have different values, beliefs, practice and customs of a special group. Among the many challenges facing healthcare is the role of language and cultural barriers that can affect health care and the quality of care that a patient may receive. Healthcare provider interactions, preferred treatment of care are some of the cultural behaviors that are encountered in the daily decision making process. Cultural behavior and the value can affect such use in preventive health care, health related lifestyle, and sources of health related knowledge. The challenge in healthcare today is the number of the patient population that is diverse from the usual United States population. Effective Communication The growth of the culturally and linguistically diverse population has led to many efforts to encourage or ensure that health care systems respond to the distinct needs of culturally and linguistically different patients by becoming â€Å"culturally competent† Just as with the concept of culture, there are many definitions of cultural competency. However, most definitions are derived from one developed by mental health researchers who defined cultural competence as â€Å"a set of congruent behaviors, attitudes, and policies that come together in a system, agency, or amongst professionals and enables that system, agency, or those professionals to work effectively in cross-cultural situations† (Cross et al. 1989, cited in Brach and Fraser 2000: 182). Effective communication between patients and physicians who are culturally and linguistically different implies the employment of strategies to provide culturally competent health care. At a minimum, effective communication means that all participants in the communication comprehend and understand the content of the communication. Beyond this minimum, effective communication implies subjective feelings such as trust, empathy, and mutual satisfaction with the communication. In the case of patient-physician verbal communication during a clinical encounter, effective communication  means that both physician and patient. As a provider of healthcare you must be able to understand the content of each other’s spoken communication thoughts related to the encounter, leaving no questions and thoughts unexpressed. You must have the patient feel that sufficient time is available for speaking and listening, and the overall satisfaction with the communication was successful. Language Barriers Environmental, socioeconomic characteristics and perceptual contexts have a vast impact on communication. Researchers have taken surveys of micro groups of culture and Latinos as well as Hispanics have shown that due to the lower access of health care language barriers have had an adverse impact on patient appointments, how providers explain symptoms, and the understanding of terminology. Language and cultural barriers can be added to health behavior models to illustrate their effects on access to medical care. For example, limited English proficiency and cultural unfamiliarity with the U.S. health care system can both be considered inhibitors or barriers in accessing medical care. The healthcare belief model shows the effects of f cultural differences on health care use are similar to those of language. Cultural differences often translate into cultural barriers that lower access to health care. However, the research on cultural barriers on access or use of health care is not as extensive as research on language barriers. Language and culture are used interchangeably so that the effects of culture may not be distinguished from those of language. Skill in a language does not necessarily bring with it cultural familiarity and competence. Providers can choose to learn a second language, let us say, Japanese, and become sufficiently proficient that she is ilingual in English and Japanese. She may still lack cultural knowledge of Japanese culture, including values and beliefs about health and illness, traditional health treatments, and the experience of being a immigrant in the United States. Overcoming the language barrier is a major step in effective communication with Japanese speaking patients, but cultural differences can still affect the doctor patient relationship. Healthcare High and Low Context Providers in general need to be more empathetic when dealing with high and low context cultures, the quality of interaction is very important. High text cultures tend to have a more moderate or suppressed expression of negative or confrontational messages, unlike the low context culture. In the low context culture silence and pauses are often misunderstood as the patient agreeing with the situation. Responsibility of communication lies with the provider, to be clearer of the information that is being transposed through provider patient relationship. To improve the quality of care providers must be able to recognize patterns and body language, and take an emphasis on listening, and take note of response and speech. With the acknowledgement of these patterns providers and staff are able to reduce the amount of error that can occur in health care. Healthcare Stereotyping Stereotyping is a behavior used when there is uncertainty; providers may apply this type of treatment when faced with medical decision making. Individual often harbor negative associations in relation to various groups. African American patients have been viewed as less educated, and less likely to comply with the providers instructions. Providers are often unaware of here bias decisions. One stereotype is that of Black Americans are less cooperative when it comes to medical procedures, this is called automatic stereotyping. To beat this type of treatment is vital that the provider communicates with patients; understand the environmental state of these patients. Many patients who don’t receive proper care is due to the cost of health insurance, lack of finance, and communities that are lacking proper physician care. Patient care must be treated as an equal. Conclusion The healthcare field as been viewed as a field that has overcome many barriers, unfortunately that’s untrue, many providers suffer from the lack of communication, and understanding why it is important to break cultural barriers. Perception and disparities in health care are often stereotype those without health insurance, how well a patient speaks English, and lastly patient gender. As health care providers it is very important to understand the quality of care that is expected among cultures. Communication among the patient and physician can make or break the organization values. References Neulip, J. W. (4th Edition 2009). Intercultural Communication. In J. W. Neulip, A Contextual Approach. Sage Publications. Singleton, K., Krause, E., (Sept. 30, 2009) â€Å"Understanding Cultural and Linguistic Barriers to Health Literacy† OJIN: The Online Journal of Issues in Nursing. Vol.

Economic development and social standing of women in low income countries Essay

‘The hand that rocks the cradle is the hand that rules the world’ is a famous saying that is pertinent to the argument that analysts make about development of women in low income countries depending on the raising of social standing of women in these countries. Because, Women are the nourishing ground of human resource of any society. Children are the future citizens of a Nation and the global world. High standards of women in society lead to a rich human resource. A productive human resource is the most important potential of a country for economic growth and prosperity, which further brings about a total development of that nation. Women are the grassroots of such a growth. Therefore it is very logical to argue that economic development in low income countries highly depends on women and their empowerment, the raising of their social standing in that society. â€Å"Family is a social institution found in all cooperative groups to oversee the bearing and raising of children throughout the world† wrote John J Macionis (2006). Children who are raised by equal status, educated mothers, in developed countries grow up to go to higher levels of education and become responsible adults of the nation. The women thus use their time and resources to development of their children. But the women in under developed low income countries do not have an access to such resources like education and good health. Their social standing is low and hence these nations give rise to an underdeveloped population which in turn results in low economy of the country. These countries are patriarchal and believe in supremacy of Economic development men. Women are a neglected section and thus they remain at the lowest strata of that society. â€Å"Gender stratification plays a vital role in socialization of families, peers, schooling, and mass media† says John J Macios (2007). Raising standards of women will therefore bring about an elevation in the standards with which they raise their own children. Upliftment of women, their empowerment, providing these women social dignity, facilities of good health and sanitation, education and career skills is an important factor that needs attention in low income Countries. With an equality of genders both, men and women could make valuable contributions to the economy of their country. Not only economic development but the overall enrichment of the human resource of the whole world will then take place. Sociologists the world over argue about the dependence of social status of women in low income countries with their economy because investment in human resource is the only answer to development and optimization of natural resource. Respected, educated, healthy, happy mothers are the only answer to a well developed world. Not just for a few countries and not just for economy but for the good health of the Universe, women all over the world deserve a high status in society. They really are the ones who teach children to become good and responsible adults, and this is the only way economic development can take place. Therefore sociologists agree and analysts argue that economy of the country depends upon the social standing of women in that country with special reference to the low income nations of the world. References Macionis, J. J. (2006). Society: The Basics. Pearson Education.

My majer is Safety mangmant Research Paper Example | Topics and Well Written Essays - 1750 words

My majer is Safety mangmant - Research Paper Example This paper explores the practice of I/O psychology aimed at understanding how it can improve human welfare in workplaces. The paper offers goes from outlining a brief history of I/O psychology to exploring how it has been applied in improving HRM and effect it has on workers welfare and hence organization productivity. To this end, the paper offers an account of the existing literature and links the literature to improving human welfare at workplaces. Introduction The history of Industrial Organizational psychology is rooted in a confluence of precursors from philosophy, science and psychology (Koppes&Pickren, 2007). It is a branch involving the practice of theories and practices of psychology to industrial and organizational environments. Levy (2013) says that the I/O psychology serves to access, measure, and offer workforce motivation as well as enhance leadership, employee-employer relations, and job attitudes. Rogeelberg (2007) similarly notes that the goal of I/O psychology is t o better understand and ensure the effectiveness, well being, and health of both the workers and organizations. Industrial-organization psychology may be defined as the psychology of scientific study of human behavior at workplace or simply the study of behavior at work (Vuulen, 2010). Industrial-Organizational psychology has been a focus of study for many since it emerged in the 1900s. The real essence of the emergence of the I/O psychology was an attempt to improve job productivity and the quality of lives at workplaces. The new branch of Psychology aimed at solving practical problems at workplaces (Vuulen, 2010). Industrial- Organizational psychology is a double faceted principle aimed at enhancing organizational performance by addressing effective workers performance at contributing to human welfare at workplaces. Relevance of Industrial-Organizational Psychology at work place Most employed people spend a substantial amount of his time at workplaces and therefore the work enviro nment should consider the welfare of the workers, which greatly affects their quality of life. The realization of this fact has led to a rapid of I/O specialty in North America as well as throughout the industrialized world at large (Spector, 2003). Organizations are seeking the services of specialists who can comprehend and assess the human resource behavior to improve the job satisfaction of their workers and thus productivity. Since its inception the Industrial and Organizational psychology has continued to transform the way organization are run and the values that are important in a work environment. The I/O psychology itself has undergone some metamorphism to what it is today under the influence of scientific management, ergonomics and human relations. Human relations is a management approach that has evolved more recently which stresses on the workers and managers’ psychological characteristics underlining the importance of factors such as humane treatment of workers, m orale, attitude and values (Cameron 2007, quoted in Cengage Learning, n.d.). Traditionally work was viewed primarily as a means to cover one’s economic needs, a perception that has changed with the human relation management approach that demands workplaces to be run as a social system. Positive interpersonal

Behavior plan final 1 Essay Example | Topics and Well Written Essays - 2250 words

Behavior plan final 1 - Essay Example This can result into lack of happiness as well as life enjoyment. As a human being, I have struggles with changing two behaviors, exercising irregularly and getting inadequate sleep, that are negatively affecting my life and school performance. In this behavior modification plan my goal is to maintain a healthy lifestyle by exercising regularly and getting sufficient sleep. Indeed, I believe that if I exercise more, I will be able to sleep early at night and feel better about myself. This will as well make me more confident. In order to achieve my first goal of regular exercise, I am planning to seek the assistance of a personal trainer and go to the gym three times a week. This will encourage me to keep up with practice and because I pay for sessions with my personal trainer, I will be less likely to skip or cancel classes. For my other target of getting adequate sleep, I will reduce the frequency of using my phone at night. I realized that I spend a lot of time texting and surfing the internet before sleeping. In week one, I will use my phone for one hour before going sleep in order to dedicate enough time for sleeping. In week two, I will use my phone for 30 min before going to sleep. As for my second behavior, I will go to the gym regularly. The sub-goal for changing the second behavior is to go to the gym without canceling or skipping any session in week one. For week two, my sub-goal is to go to the gym at least three times with the personal trainer and two times by myself. I will monitor this by taking notes in my private journal app â€Å"What a Wonderful Life.† Moreover, with the help of my classmates and their feedbacks on my plan, I was able to improve my sub-goals for both behaviors as reflected in the following schedules for the first goal, which is going to the gym: Through the week of observation, I used the private journal â€Å"What a Wonderful Life†

Museums and Utopian thought Essay Example | Topics and Well Written Essays - 500 words

Museums and Utopian thought - Essay Example When considering art objects it’s clear that they have a distinct source of power over people. Kirshenblatt-Gimblet (2000) articulates a notion of art objects as taking on powerful symbolic elements when viewed as message of representatives of social relations among people. In terms of art objects, one of the primary power sources is clearly the nature of their inclusion within the museum. The inclusion of the art into the museum or gallery format imbues the object with an institutional or social sense of recognition. Notably, Kirshenblatt-Gimblet (2000, p. 7) states, â€Å"the museum tends to be conserving and conservative institution, subject to the catalyzing effects of avant- garde artists that engage and attempt to destabilize its very premises on the premises†¦to appeal to a wider public.† This is a contrasting understanding of the meaning or ‘power’ of the art object, as gaining its significance from its resistance of cooptation of the museum or gallery, with the museum acting as a catalyst to this resistance. Still, it is ultimately the institution of the museum that motivates or ‘catalyzes’ this meaning, ultimately giving the object its power. Kirshenblatt-Gimblett (2004) proposes a vision of the museum as a history of utopian thought. In many regards, it’s clear that the museum does act as a sort exemplification of utopian ideals. This notion follows two modes of thought, as both the structural nature of the museum itself is recognized as encouraging this utopian identification, as well as the idealistic intentions of the artwork within the museum. In terms of physical elements of the museum consider Kirshenblatt-Gimblett (2004, p. 1) who states, The museum is at once an architectural form, a concrete environment for reflection, a reservoir of tangibilities, a school for the senses, a space of