How does a fi rms tax rate affect its cost of capital What is the Essay

How does a fi rms tax rate affect its cost of capital What is the effect of the flotation - Essay Example The cost of capital can be calculated using valuation models such as CAPM or Arbitrage Pricing Model. Like all affairs of a business, the cost of capital is also affected by numerous factors, some within and some beyond the organization’s control. One of the factors which greatly affects the cost of capital and is beyond the control of the organization is the tax rate. Tax rate refers to the percentage of earning/spending which is contributed to the government. There are several types of taxes, applicable on different economic units, such as the income tax applicable on individuals, corporate tax applicable on corporations, sales tax applicable to sellers etc. Of primary concern in an organization are the corporate tax rate and the capital gains tax. The corporate tax rate is used to calculate the cost of debt in the weighted average cost of capital. The higher the tax rate; the lower will be the cost of capital since the interest payments are tax deductible. The capital gains tax, on the other hand, is applicable to owners of capital in the organizations, i.e. the shareholde rs. An appreciation in the ownership of share prices requires the shareholders to pay a specific percentage (varies from country to country) to the government. In such a case, the higher the capital gains tax, the lower will be the motivation of shareholders to hold their stocks. The tax rate structure applicable in a country determines the capital structure of a firm. If the corporate tax rate is higher than the capital gains tax rate then the structure will comprise of more debt and less shares and vice versa. In case an organization does not directly take a loan from a bank or financial institution, it may issue securities. Securities refer to any instruments (negotiable or non-negotiable) which allows an organization to raise funds, while floatation costs refer to the expenses incurred by the organization to issue new securities. These include underwriters’

Justifiable Torture Essay Example for Free

Justifiable Torture Essay Torture is the act of inflicting physical and psychological pain. The three main purposes that Democratic governments use torture are to intimidate, to coerce false confessions, and to gather accurate security information. Torture is not only a method that has been used in countries notorious for corrupt government dictatorships such as Russia, Japan, and Germany but has also been prevalent in democracies. The use of torture in democracy is a shame, not only do secret CIA kidnappings, and the indefinite detention at Guantanamo Bay go against the basic elements of a democracy, it has also been proven to be ineffective or less effective than traditional intelligence gathering, and it creates a slippery slope effect. The four basic principles of a democracy are having a political system where people can choose and replace officials through free and fair elections, the active participation of the people as citizens, in politics and civil life, the protection of the human rights of all citizens, and a rule of law where all laws and procedures apply equally to all citizens. Physical torture techniques (strikes to the body and using everyday instruments to inflict physical torture) were first recorded in â€Å"military punishments, especially among British lists of punishments; in the context of American slavery; in penal institutions; or during policing and military operations in French and British colonies† (Rejali 4). France, England, and the United States are the main democracies of modern history prior to World War II. The use of torture is highly used in Democratic governments; torture will be examined in a democratic system. Torture is a very right and left handed issue; those on the right side argue that it goes against the very values that Democratic Governments try to instill in their citizens such as equality, human rights, and liberties. Those on the left side like to refer to the ticking bomb scenario and point out terrorist acts such as 9/11 and Pearl Harbor. Critics on the left side argue that Pearl Harbor was due to the fact that the United States did not have a strong intelligence agency Congressional probers basically blamed the disaster on a lack of imagination and watchfulness on the part of the American commanders on the scene, combined with poor coordination and exchange of intelligence in Washington†¦ In the view of President Harry S. Truman, the Japanese attack might have been prevented if there had been something like coordination of information in the government. President Truman observed in his memoirs: In those days the military did not know everything the State Department knew, and the diplomats did not have access to all the Army and Navy knew. (Intelligence throughout history). Torture is a method that is commonly used by the CIA, â€Å"After the attacks of 9/11, former President Bush authorized the creation of extralegal detention camps where Central Intelligence Agency operatives were told to extract information from prisoners who were captured and held in secret† (On torture and American Values). Torture is highly used and many believe that torture is an effective method of gathering intelligence; however this does not address whether it is justified in a democratic system. Torture is actually not as effective as many people think and it is never justifiable due to the fact that, â€Å"the United States has historically incorporated these international definitions into its military manuals. The 1992 U.S. Army Field Manual, for example, instructs soldiers that both the Geneva Conventions and U.S. policy prohibit acts of violence or intimidation, including physical or mental torture, threats, or insults as a means of interrogation† (Torture). Torture was first used in Roman times, judges used this technique to unearth crimes â€Å"In 1612, the Italian jurist Sebastian Guazzini likewise defined torture â€Å"as the distress of body devised for extracting truth. It was invented by the Civil Law, as a mode of discovering truth, for the sake of the public welfare, to the end that crimes might not remain unpunished† (Rejali 36). Examining past torture accounts one comes to the chilling conclusion that not all torture victims were actually terrorists and even though some may be criminals or terrorists they are only suspects. It is hard to look at torture methods, accounts of victims, the pictures that arose from Abu Ghraib, or Guantanamo Bay detainees and be able to say that the methods used on these people were justifiable and morally ok. The injustice is not only being applied to democratic principles but to moral principles also. Abu Ghraib is a U.S. detention facility located in Iraq, it is famous for the pictures taken by U.S. military guards which showed graphic proof of abuse to its prisoners Major General Antonito M. Taguba wrote a 53 page report on the incident; the report listed â€Å"Breaking chemical lights and pouring the phosphoric liquid on detainees; pouring cold water on naked detainees; beating detainees with a broom handle and a chair; threatening male detainees with rape; allowing a military police guard to stitch the wound of a detainee who was injured after being slammed against the wall in his cell; sodomizing a detainee with a chemical light and perhaps a broom stick, and using military working dogs to frighten and intimidate detainees with threats of attack, and in one instance actually biting a detainee† Such abuses of power are completely impermissible; the graphic pictures taken by U. S. military police guards included pictures of naked men being humiliated. In Islamic law homosexual acts are condemned and it is embarrassing for men to be naked in front of each other. One picture shows a female soldier with a cigarette in her mouth giving the thumbs up as a naked detainee masturbates. Another picture shows two soldiers standing behind seven naked Iraqis that have been piled on top of each other to make a pyramid. The founding fathers of the United States created a constitution that demanded equality for all men, as the Supreme Court famously said in 1866 â€Å"The Constitution of the United States is a law for rulers and people, equally in war and in peace, and covers with the shield of its protection all classes of men, at all times, and under all circumstances.† It is important that the United States and all democracies oblige to the laws set by their founders. One of the most common beliefs about torture is that it is effective. In reality torture is not as effective as people perceive it to be â€Å"accuracy in torture is exceedingly poor, in some cases less accurate than flipping a coin, the key successes in gathering information in known cases come from other methods, most notably cultivating public cooperation and informants† (Rejali 24). Senator John McCain said in a speech on the senate floor The trail to bin Laden did not begin with a disclosure from Khalid Sheikh Mohammed, who was water boarded 183 times†¦. We did not learn Abu Ahmed’s real name or alias as a result of waterboarding or any ‘enhanced interrogation technique’ used on a detainee in U.S. custody. None of the three detainees who were water boarded provided Abu Ahmed’s real name, his whereabouts, or an accurate description of his role in Al-Qaeda. In fact, not only did the use of ‘enhanced interrogation techniques’ on Khalid Sheikh Mohammed not provide us with key leads on bin Laden’s courier, Abu Ahmed; it actually produced false and misleading information†¦Abu Ahmed al-Kuwaiti’s real role in Al-Qaeda and his true relationship to Osama bin Laden — was obtained through standard, non-coercive means, not through any ‘enhanced interrogation technique.’ â€Å"In short, it was not torture or cruel, inhuman, and degrading treatment of detainees that got us the major leads that ultimately enabled our intelligence community to find Osama bin Laden (Knapp) Khalid Sheikh Mohammad is the self-described mastermind behind the 9/11 attacks and was captured in 2003 he was water boarded 183 times and confessed to masterminding the September 11 attacks, the Richard Reid shoe bombing attempt to blow up an airliner over the Atlantic Ocean, the Bali nightclub bombing in Indonesia, the 1993 World Trade Center bombing and various other attacks. Mohammad told the International Committee of the Red Cross that â€Å"I gave a lot of false information in order to satisfy what I believed the interrogators wished to hear.† (Outside the beltway) Not only has torture been proven to go against basic moral and democratic principles it is also proving to be ineffective. Ali Soufan an FBI supervisory special agent from 1997-2005 stated â€Å"Almost all the agency officials I worked with on these issues were good people who felt as I did about the use of enhanced techniques: it is un-American, ineffective and harmful to our national security† (Ali Soufan). The United States is known for urging nations to obey the international treaties and protect human rights and liberties. It is important that our government oblige to these treaties that they so consistently advocate. A former republican presidential nominee and an ex FBI agent both agree that torture is not necessary to gather intelligence. Traditional methods such as informants and regular interrogations have been proven to be more effective then torture. Using torture in a democratic system creates three slippery slopes â€Å"Torture increasingly takes in more suspects than those approved, leads to harsher methods than are authorized, and leads to greater bureaucratic fragmentation† (Darius Rejali 24). What Rejali is talking about, is that every person that has been tortured has not been proven to be a confirmed terrorist and is only a suspected one. Such is the case of Khalid El-Masri, a car salesman from Germany whose name resembles Khalid Al-Masri who is a confirmed terrorist. El-Masri was kidnapped by the CIA, taken to a ‘black site’ in Afghanistan, and was allegedly tortured. He was then released after four months, when it had become apparent he was not a terrorist. He had been confused with Khalid Al- Masri; the confusion was due to the fact that the names are spelt the same way in Arabic script. Torture also leads to greater torture because if a person is being tortured and will not confess to a crime that he is suspected of, what’s to say that the person administering the torture will not continue to apply harsher methods. He has already crossed the set boundaries presented by peace treaties and laws. Once a person has crossed the line and has committed to the act of torture what will stop him from going down the slope until the confession is given? The last slope torture leads to is bureaucratic fragmentation, torture is kept secretive and when it is not law makers push the boundaries to make it acceptable during the Bush administration laws were bent and given new definitions, lawyers and attorneys worked together to redefine torture, the â€Å"Justice Department even declared that those acts did not violate the lower standard of â€Å"cruel, inhuman or degrading treatment† (On Torture and American Values). Americans never authorized secret kidnappings, or the dehumanization of men, or the indefinite imprisonment at jails such as Guantanamo Bay or Abu Ghraib. Such secretive acts only create a wall between American citizens and its Government. Along with all the negatives of torture many also believe it to have positive effects also. The ticking bomb scenario is when a terrorist is believed to know the location of a time sensitive bomb that will be set off in a matter of time. The question that arises from this scenario is, is torture morally acceptable under special circumstances? Many believe yes because obviously they care about national security. Patrick J. Buchannan states â€Å"The morality of any act depends not only on its character, but on the circumstances and motive. Stealing is wrong and illegal, but stealing food for ones starving family is a moral act. Even killing is not always wrong. If a U.S. soldier had shot Mohammed to save 50 hostages, he would be an American hero.†(Buchannan) Buchannan is referring to Khalid Sheikh Mohammad and discussing how he is an example of a â€Å"special circumstance† Another point is that under President Bush’s administration enhanced interrogation techniqu es did not arise to the level of torture â€Å"The former president firmly believes that enhanced interrogation techniques were necessary to obtain much-needed intelligence information in the war on terror† (Torture). Many believe torture is crucial in gathering information that could lead to the prevention of terrorist acts. An Associate Press ipsos group interviewed 1000 adults; â€Å"the† poll results indicate that support for justifiable torture is highest in southern Korea and the United States. There is also strong support in the United Kingdom and France with borderline results in Germany, Canada, and Mexico. Italians and Spaniards are opposed† (Peterson). Since the terrorist attacks took place in September 11, 2001 torture has been a method more commonly used. Many Americans accepted this notion by simply ignoring it, growing a stronger sense of nationalism, or believing that the criminals needed to be punished as shown in the poll that was taken many people from different countries supported torture. The ticking bomb scenario is a fantasized situation that those who support torture like to bring up. Information that comes from enhanced interrogation techniques as opposed to traditional methods has proved to be less accurate. Buchannan Makes a valid point on torture being acceptable because of the morality of it that torture is being inflicted to gather information that could save the lives of people, however as stated earlier torture techniques are not needed to gather the information, traditional methods can be used and are more effective. Although after 9/11 many Americans supported torture it still conflicted with our values. Torture has proven to go against basic moral and democratic principles. It has also proven to be less effective than traditional methods of interrogation or intelligence gathering. And it has not only proved to create one slippery slope, but it has created three. The case of Abu Ghraib and Khalid El-Masri proved the slippery slope theory because humans were sodomized with a broomstick; men were humiliated, forced to touch themselves in front of other naked men and were dehumanized. El Masri was an innocent German citizen and was held in a prison somewhere in Afghanistan and was allegedly tortured for nearly five months. The example of Khalid Sheikh Mohammad proved that torture is less effective than traditional methods of interrogation because as said by John McCain it led to false information and the accurate information that led to the capture of Bin Laden was obtained through standard non coercive means. Lastly, torture completely goes against the constitution and even though law makers have bent the law and redefined torture so it does meet the legal standards of torture it is still unethical because as stated earlier â€Å"The Constitution of the United States is a law for rulers and people, equally in war and in peace, and covers with shield of its protection all classes of men, at all times, and under all circumstances.† Even in times of national crises we must still follow the constitution which was meant to guide us through hard times with our principles secure and values intact. Works Cited Buchanan, Patrick J. Torture Is Moral When Inflicted for a Greater Good. Torture. Ed. Debra A. Miller. Detroit: Greenhaven Press, 2009. Current Controversies. Rpt. from The Case for Torture. World Net Daily. 2003. Gale Opposing Viewpoints In Context. Web 22 Nov 2012. Hersh, Seymour. â€Å"Torture at Abu Ghraib.† The New Yorker.com. The New Yorker, 10 May. 2004. Web. 22 Nov 2012 Knapp, Alex â€Å"An FBI Interrogator on the Effectiveness of Torture† Outside the Beltway.com. Outside the Beltway, 10 Sept. 2009. Web 23 Nov 2012 â€Å"On Torture and American Values† The New York Times.com. New York times, 7 Oct. 2007. Web 23 Nov 2012 Petersen, Kim. Torture Is Morally Reprehensible. Torture. Ed. Debra A. Miller. Detroit: Greenhaven Press, 2009. Current Controversies. Rpt. from Elementary Morality and Torture. Dissident Voice. 2005. Gale Opposing Viewpoints In Context. Web 23 Nov 2012. Rejali, Darius. Torture and Democracy. Princeton: Princeton University Press, 2007. Print. Soufan, Ali. â€Å"My Tortured Decision.† The New York Times.com. New York times, 22 April 2009. Web 22 Nov 2012 Torture. Current Issues: Macmillan Social Science Library. Detroit: Gale, 2010. Gale Opposing Viewpoints In Context. Web 24 Nov 2012. United States. CIA â€Å"Intelligence Throughout History: The Impact of Pearl Harbor.† US CIA , Dec. 2010. Web 26 Nov 2012

Chaucer: Satire And Humor Essay -- English Literature:

Chaucer: Satire And Humor Until Geoffrey Chaucer wrote the Canterbury Tales, he was primarily know for being the writer of love poems, such as The Parliament of Fowls, narratives of doomed passion, and stories of women wronged by their lovers. These works are nothing short of being breath taking, but they do not posses the raw power that the Canterbury Tales do. This unfinished poem, which is about 17,000 lines, is one of the most brilliant works in all of literature. The poem introduces a group of pilgrims journeying from London to the shrine of St. Thomas a Becket at Canterbury. Together, the pilgrims represent a large section of 14th-century English life. To help pass the time of the journey, the pilgrims decide to tell stories. These tales include a wide variety of medieval genres, from humorous fables to religious lectures. They vividly describe medieval attitudes and customs in such areas as love, marriage, and religion. Chaucer was a master storyteller, and his wit his shown throughout his work by the use of humor and satire, and it is most present in The Prologue to the Canterbury Tales, The Pardoner’s Tale, and The Wife of Bath’s Tale. Many people that the most popular par to of the Canterbury Tales it The Prologue to the Canterbury Tales, which has long been admired for the lively, individualized portraits it offers. More recent criticism has reacted against this approach, claiming that the portraits are indicative of social humor and satire, â€Å"estates satire,† and insisting that they should not be read as individualized character portraits like those in a novel (Gittes 15). It is the Prologue to the Canterbury Tales that serves to establish firmly the framework for the entire story- collecti... ...o her husband, and this defeats the whole purpose of the Wife of Bath’s entire argument. For almost a seven hundred year old book, the Canterbury Tales still is a very irresistible collection of analyses of human life. Not much has changed in seven hundred years. Medieval traits that Chaucer described in his tales such as corruption and greed still play a major part in our society today. Also, issues such as woman’s rights that were debated back then are still heavily debated today. No other writer has been able to duplicate the way Chaucer has analyzed and described human life, and no one has even come close to doing it in such a humorous and satirical way. The Canterbury Tales brought Geoffrey Chaucer too his full artistic power, and it will forever remain as one of the most brilliant and vivid piece of literature ever written in the English language.

Affects of Osteoporosis, Osteoarthritis, and Muscular Distrophy Essay

Osteoporosis and Osteoarthritis are both diseases of the bone. Osteoporosis actually means â€Å"porous bones† and is a problem with bones where there isn’t enough calcium in them to give them strength. This is because the bone cells aren’t being reproduced as fast as the bone is aging or deteriorating which causes the bones to become fragile. This can happen because of loss of calcium in the bone, or a problem with the calcium being absorbed correctly, which it needs in order to build new bone tissue and complete the remodeling cycle. Even if the bone has enough, other parts of your body may not and will start taking calcium away from your bones. Osteoarthritis occurs when smooth cartilage around a bone gets worn down and no longer allows smooth gliding between the bones which cause bone to bone contact. The cartilage is meant to be there to reduce friction so when it is worn away it can also cause pain. It is caused by an inflammation of the joints and is the most common type of arthritis. It is most likely due to aging or rather, a lot of continuous use. Muscular atrophy happens when the blood supply and amount of muscle fibers decreases which can cause the muscle to deteriorate. It can be cause by either disorders, lack of use, or injury. If there is an injury to the nerves that make the muscles move, then they will eventually deteriorate just as they would if a person stopped using their muscles as much. Lack of exercise, poor nutrition, nervous system problems, and disabilities can all cause muscular atrophy. For an 84-year-old small boned, white female, this can cause challenges of everyday life. With osteoporosis, she will have weak and fragile bones. For example, if she bumped into something or fell down, her bones could easily break so she would need to be extra careful when getting around. With osteoarthritis, she may be experiencing a lot of pain since most of or all of her cartilage has worn away causing her to feel the friction of the bone on bone contact. This would make it harder for her to walk and exercise. Lastly, the muscular atrophy would make her very weak since her muscles can’t function the way they are supposed to because of lack of strength. Lifting, pulling, walking, and any normal chore for her would be a very big challenge.

The Theory of the Contestable Market

The theory of contestable markets, along with the static and dynamic views of competition, are used as theories to analyse how markets perform. The static view focuses on the structure of the market as the determining factor of competition, with the dynamic view focusing on dynamic aspects such as technology and entrepreneurship. The contestable markets theory has a different focus, focusing on the importance of barriers to entry and exit. Nonetheless it does incorporate features from both views.More importantly it shifts the focus and provides new insight into the workings of competition. The two differing views of competition will be examined, followed by an examination of the contestable market theory, concluding with an analysis of the degree to which there is synthesis. Static view of competition The static view of competition focuses on the market structure as the key determining factor in the performance and behaviour of firms. It is the neoclassical approach of competition, o rigination from the work of economist’s Cournot and Edgeworth.This traditional view sees market structure as rigidly determining firm's conduct (its output decisions and pricing behaviour), which yields an industry's overall performance, such as its efficiency and profitability. Firms limit their behaviour to a certain industry model or strategic logic that is built on frequent price cuts, in order to out-compete rivals and deter entry. An industry is considered competitive depending on its market structure. At one extreme is perfect competition, which is considered perfectly competitive. At the other extreme is a monopoly structure, with a sole producer, characterised by low competition.In between the spectrum is an oligopolistic structure, and a monopolistic structure. These structures embody less competition than in perfect competition, but more than in a monopoly situation. The characteristics of competitive markets are thus large number of firms, or in other words a low concentration ratio. The number of firms is determined by the market demand and the output level set at that which minimises average cost. As the number of firms that enter the industry increases, firms become price takers rather than price makers, and they are forced to apply the price that is set in order to survive in the market.They thus receive normal profits, as opposed to abnormal profits when the market structure was more concentrated (please refer to figure 1 below). Fig 1 Thus the organisation of industries is considered to be generated exogenously. Therefore the market concentration decides the nature of competition within each market. The static view of competition thus concentrates on the structural characteristics of competition, with a ‘structure-conduct-performance’ based paradigm, in which market structure decided conduct of firms, deciding their performance.The static competition approach excludes non-price competition, such as quality and product diff erentiation, and strategic behaviour which does occur. This view of competition has been criticised for ignoring the more dynamic methodology of competition, which will now be analysed. Due to the importance of market share in the static view of competition, the resultant policy implication calls for regulation of markets, in order to ensure low marker concentration, in order to move towards perfect competition, and its associated benefits. (Schwartz 1986). Dynamic view of competitionThe dynamic view of competition revolves around the role of the entrepreneur and firms using innovation to compete with their rivals. The neo-Austrian school of thought, in particular, Schumpeter, and those economists influenced by it have been redefining the concept along classical lines, although with a much greater emphasis on the entrepreneurial role, the role of discovery, and rivalrous competition. Performance in industries is argued to be characterized by dynamic competition, expressed through in novation and variation rather than through efficiency and price reductions, which is the case in the static approach.This view portrays competition as a process of change and evolution rather than a static state in which equilibrium will be reached. Hayek, a main architect of this approach, defines competition as a dynamic behavioural activity. Central to this activity is knowledge, how it is acquired and communicated through the economy. He criticises the neoclassical assumption of perfect knowledge, with the view that costs are not a given, and so not exogenous. Competition is a process of interaction with the environment, in which innovation, such as new methods of production and new products, are a response to the unique situation of the economy.It results in the optimal use of resources. (Auerbach 1988) Alchian believes that there is a natural selection process which results in a competitive outcome. Such competition depends not only on the physical possibilities but also the a bilities and attitudes of participants, the entrepreneurs and consumers. It therefore argues for property rights, as to increase the level of competition, forcing companies to undergo research and development and to innovate, in order to survive.For competition to be improved and sustained there needs to be a genuine desire on behalf of entrepreneurs to engage in competitive behaviour, to innovate and to invent to drive markets forward and create what Schumpeter famously called the â€Å"gales of creative destruction†. (Vickers, 1995, pp15). In the classic dynamic view, it argues that there is a tendency for rates of return to equalise, due to profit seeking behaviour, and the movement of capital from low profit areas to that of higher profit areas. However equilibrium may never be reached.Before the tendency for equalisation, the economy may have changed, such as the structure of demand, or the available technology, and products may have evolved. The general criticism of the dynamic view of competition is that is lacks the simplicity and decisiveness than the static view of competition. The policy implications of the dynamic view of competition is less concerned with regulation of markets, instead encouraging property rights in order to allow firms to benefit from their own research and development, allowing for technological advancement, and the ensuing competition.Theory of the contestable market The theory of contestable markets describes how competition will exist in any market if there are no barriers to entry and exit, as firms will be forced to act competitively in fear of new firms entering the market. The contestable markets approach to competition represents an alternative to the neo-classical theory of the firm. It came to prominence in the early 1980s, largely through the work of the American economist Baumol. The threat posed by the possibility of new firms entering the market is taken to be a key determinant of the behaviour of existing f irms.Accordingly, barriers to entry and exit play a crucial role. Its fundamental feature is low barriers to entry and exit; a perfectly contestable market would have no barriers to entry or exit. This means no sunk costs. Sunk costs will be low where the firm can sell or in other ways dispose of its capital equipment without cost. For example, a new airline might lease aircraft rather than purchase them and can then leave the industry at the end of the lease period without the costs of having to sell its aircraft.Contestable markets are characterized by ‘hit and run' entry, whereby if a firm in a market with no entry or exit barriers raises its prices above average cost and begins to earn abnormal profits, potential rivals will enter the market to take advantage of these profits. When the incumbent firms respond by returning prices to levels consistent with normal profits the new firms will exit. In this manner even a monopoly market can show highly competitive behaviour (suc h as in perfect competition), as it fears potential competition.Such optimal behaviour applies to the full range of industry structures. Natural monopolies are of course not included in such a theory, as by its nature barriers to entry and exit exist. In this view of competition, the direction of causation between the market structure and competition is reversed from that of the static view. The theory of contestable markets sees contestability as influencing the performance and conduct of firms, and thus deciding on the resultant market structure.Perfect contestability would lead to firms earning normal profit, embodying cost-minimisation behaviour, resulting in a cost-minimisation structure (P=MC= AC), whatever the actual form of the market structure. Thus, the market structure is determined by the price and output decisions, or the behaviour, of firms. In a perfectly contestable market, there would exist profit equalisation across firms and industries, such as in perfect competit ion, even under market imperfections, such as a concentrated structure. Under a contestable market there would be maximisation of consumer welfare due to cost and price minimising.Contestable markets would also result in optimal firm sizes (economies of scale), product-mix (economies of scope) and industrial organisation (dynamic efficiency). Compared to the static view of competition, the contestable market views is not so much competition within the market, but competition for the market. Attention has been shifted away from actual competition to potential competition. Critics of this theory includes the argument that perfectly contestable markets are rare, and thus should only be applied to specific cases.It is true that perfect contestability is an extreme, and should be viewed as a benchmark rather than the norm, but the same applies to perfect competition in the static view of competition. (Schwartz 1986). More empirical research is needed on the extent of free entry and exit. Criticism has also been placed upon the reaction time of incumbents as new firms enter the market, which is also a hotly debated subject. Contradicting assumptions of ultra-free entry and the response of firms is another criticised aspect of the theory. (Shepherd, 1984, pp585)In terms of policy implications, the theory suggests that competition policy should be as much concerned with the levels of barriers to entry and exit in a market as with existing levels of competition. Synthesis? There is much debate as to whether contestable market theory is a synthesis of the static and dynamic views of competition. Some observers comment that the theory may even be an uprising from the traditional theories (Baumol, 1982), and to the other extreme where it is a mere extension of the traditional theories of competition.The theory of contestable markets incorporates important concepts from the static view of competition. The relationship between market structure and competition is a major fac tor in contestable market theory as it is in the static view, however in the former, as stated earlier, the causation is reversed. So the relationship is still key, albeit with market structure being dependent upon its firm’s behaviour. Furthermore, barriers to entry and exit, which are important in the static view in terms of its negative effects in allowing incumbents to earn economic rent, are of prime importance in the new theory.Although the new theory turns it on its head and focuses on the positive effects of removing barriers, and the resultant competition that comes with it. Barriers are thus significant market determinants. Thus for some contestable market theory provides a static equilibrium theory of industry structure which is generally more applicable than before. The theory also points towards some dynamic interpretation of markets. Firms are able to enter on an ongoing basis, constraining market behaviour of incumbents.The degree of contestability of a market can change over time with technology, regulatory breakdown, or changes in other barriers altering the entry and exit conditions. An incumbent pricing optimally can protect them self against new entrants using the same technology, but can’t protect against innovation or technological advancements. Furthermore, the threat of competition should lead to a faster rate of technological diffusion, as firms have to be particularly responsive to the changing needs of consumers. Thus dynamic aspects of competition are also important in the new theory.Baumol et al have argued the contestable theory as a new general system to replace the original static and dynamic views of competition. However their analysis should only be treated as a specialised, extreme set of conditions, which are unlikely to be found in reality, due to rigid assumptions of contestability theory. Some have even argued that little has been added to the pre-existing entry and exit analysis. (Shepherd, 1984). Conclusio n Contestable market theory is an attempt to impose a dynamic mechanism upon a static equilibrium analysis, thus providing new and valuable insights into competition theory.It offers a host of new analytical methods, new tasks for empirical research, and new results. It allows the reconsideration of the domain of the invisible hand, yields contributions to the theory of oligopoly, provides a standard for policy that is far broader and more widely applicable than that of perfect competition, and leads to a theory that analyses the determination of industry structure endogenously and simultaneously with the analysis of the other variables more traditionally treated in the theory of the firm and the industry.It aspires to provide a unifying theory as a foundation for the analysis of competition. The theory manages to blends in some aspects from both the static and dynamic analyses of competition, however shouldn’t be seen as an overarching theory. It embodies a different focus t o the two traditional views of competition, as already mentioned. It should be applied to unique situations, on which the assumptions of the theory are built. The new theory provides for a new dilemma rather than the final solution.

Toltec Art, Sculpture and Architecture

Toltec Art, Sculpture and Architecture The Toltec civilization dominated Central Mexico from its capital city of Tula from about 900 to 1150 A.D.. The Toltecs were a warrior culture, who dominated their neighbors militarily and demanded tribute. Their gods included Quetzalcoatl, Tezcatlipoca, and Tlaloc. Toltec artisans were skilled builders, potters, and stonemasons and they left behind an impressive artistic legacy.    Motifs in Toltec Art The Toltecs were a warrior culture with dark, ruthless gods who demanded conquest and sacrifice. Their art reflected this: there are many depictions of gods, warriors, and priests in Toltec art. A partially destroyed relief at Building 4 depicts a procession leading towards a man dressed as a feathered serpent, most likely a priest of Quetzalcoatl. The most iconic piece of surviving Toltec art, the four massive Atalante statues at Tula, depict fully-armored warriors with traditional weapons and armor, including the atltl dart-thrower. The Looting of the Toltec Unfortunately, much Toltec art has been lost. Comparatively, much art from the Maya and Aztec cultures survives to this day, and even the monumental heads and other sculptures of the ancient Olmec can still be appreciated. Any Toltec written records, similar to the Aztec, Mixtec and Maya codices, have been lost to time or burned by zealous Spanish priests. In about 1150 A.D., the mighty Toltec city of Tula was destroyed by invaders of unknown origin, and many murals and finer pieces of art were destroyed. The Aztecs held the Toltecs in high regard, and periodically raided the ruins of Tula to carry off stone carvings and other pieces to be used elsewhere. Finally, looters from the colonial period to the modern day have stolen priceless works for sale on the black market. In spite of this persistent cultural destruction, enough examples of Toltec art remain to attest to their artistic mastery. Toltec Architecture The great culture that immediately preceded the Toltec in Central Mexico was that of the mighty city of Teotihuacn. After the fall of the great city in about 750 A.D., many of the descendants of the Teotihuacanos participated in the founding of Tula and the Toltec civilization. Therefore, it is no surprise that the Toltecs borrowed heavily from Teotihuacan architecturally. The main square is laid out in a similar pattern, and Pyramid C at Tula, the most important one, has the same orientation as the ones at Teotihuacn, which is to say a 17 ° deviation towards the east. Toltec pyramids and palaces were impressive buildings, with colorfully painted relief sculptures adorning the fringes and mighty statues holding up the roofs. Toltec Pottery Thousands of pieces of pottery, some intact but mostly broken, have been found at Tula. Some of these pieces were made in far distant lands and brought there through trade or tribute, but there is evidence that Tula had its own pottery industry. The later Aztecs thought highly of their skills, claiming that Toltec artisans taught the clay to lie. The Toltecs produced Mazapan-type pottery for internal use and export: other types discovered at Tula, including Plumbate and Papagayo Polychrome, were produced elsewhere and arrived at Tula through trade or tribute. The Toltec potters produced a variety of items, including pieces with remarkable faces. Toltec Sculpture Of all of the surviving pieces of Toltec art, the sculptures and stone carvings have best survived the test of time. In spite of repeated looting, Tula is rich in statues and art preserved in stone. Atalantes: perhaps the best-known surviving piece of Toltec art are the four Atalantes, or stone statues, which grace the top of Pyramid B at Tula. These tall human statues represent high-ranking Toltec warriors.   Ã‚  Ã‚  Chac Mool: Seven complete or partial Chac Mool style statues were found at Tula. These sculptures, depicting a reclining man holding a receptacle, were used for sacrifices, including human sacrifices. Chac Mools are associated with the cult of Tlaloc.Relief and Friezes: The Toltec were great artists when it came to reliefs and friezes. One excellent surviving example is the Coatepantli, or Wall of Serpents of Tula. The elaborate wall, which delineated the sacred precinct of the city, is richly decorated with geometric designs and carved images of snakes devouring human skeletons. Other reliefs and friezes include the partial frieze from building 4 at Tula, which once depicted a procession towards a man dressed as a plumed serpent, probably a priest of Quetzalcoat l. Sources Charles River Editors. The History and Culture of the Toltec. Lexington: Charles River Editors, 2014.Cobean, Robert H., Elizabeth Jimà ©nez Garcà ­a and Alba Guadalupe Mastache. Tula. Mexico: Fondo de Cultura Economica, 2012.Coe, Michael D and Rex Koontz. 6th Edition. New York: Thames and Hudson, 2008Davies, Nigel. The Toltecs: Until the Fall of Tula. Norman: the University of Oklahoma Press, 1987.Gamboa Cabezas, Luis Manuel. El Palacio Quemado, Tula: Seis Decadas de Investigaciones. Arqueologia Mexicana XV-85 (May-June 2007). 43-47

Learning He, She, or It in English

Learning He, She, or It in English English grammar states that people are referred to as he or she and that all other objects are referred to as it in the singular or they in the plural. In many languages, such as French, German, Spanish, etc. objects have gender. In other words, things are referred to as he or she. English students quickly learn that all objects are it, and are probably happy because they dont have to learn the gender of each object. I live in a house. Its in the countryside.Look at that window. Its broken.I know thats my book because it has my name on it. He, She or It With Animals When referring to animals we run into a problem. Should we refer to them as he or she? When speaking about animals in English use it. However, when speaking about our pets or domesticated animals, its common to use he or she. Strictly speaking, animals should always take it, but native speakers generally forget this rule when speaking about their own cats, dogs, horses or other domestic animals. My cat is so friendly. Shell say hi to anyone who comes to visit.My dog loves running. When I take him to the beach, he runs for hours and hours.Dont touch my lizard, he bites people he doesnt know! Wild animals, on the other hand, usually take it when spoken about in a general way. Look at the hummingbird. Its so beautiful!That bear looks like its very strong.The zebra in the zoo looks tired. It just stands there all day long. The Use of Anthropomorphism Anthropomorphism - Noun: The attribution of human characteristics or behavior to a god, animal, or object. You often hear wild animals referred to as he or she in documentaries. Wildlife documentaries teach about the habits of wild animals and describe their lives in ways humans can understand. This type of language is referred to as an anthropomorphism. Here are some examples: The bull stands his ground challenging anyone to a fight. He surveys the herd looking for a new mate. (bull - male cow)The mare protects her foal. She keeps a look out for any intruder. (mare - female horse / foal - baby horse) Anthropomorphism is also used with some vehicles such as cars and boats. Some people refer to their car as she, while sailors commonly refer to ships as she. This use of she with some cars and boats is probably due to the intimate relationship people have with these objects. Many people spend hours with their cars, while sailors can spend most of their lives aboard ships. They develop a personal relationship with these objects and give them human traits: anthropomorphism. Ive had my car for ten years. Shes part of the family.The ship was launched twenty years ago. Shes sailed around the world.Toms in love with his car. He says shes his soul mate! Nations In formal English, especially in older written publications nations are often referred to with the feminine she. Most people use it in modern times. However, its still quite common to come across the use of she in more formal, academic or sometimes patriotic settings. For example, some patriotic songs in the USA contain feminine references. The use of she, her and hers is common when speaking about a country someone loves. Ah France! Her bountiful culture, welcoming people and amazing cuisine always call me back!Old England. Her strength shines through any test of time.(from Song) ... bless America, land that I love. Stand beside her, and guide her ...

Go Ahead, Put that Preposition at the End!

Go Ahead, Put that Preposition at the End! Go Ahead, Put that Preposition at the End! Go Ahead, Put that Preposition at the End! By Maeve Maddox Commenting on one of my posts about prepositions, Annette writes: When did the rule about ending the sentence with a preposition change? Its always been one of my pet peeves (in written word more than spoken) because we learned it was wrong in high school grammar. but now Im reading that its acceptable? Could all our English teachers have been wrong? No grammarian can be more cantankerous than H.W. Fowler (A Dictionary of Modern English Usage), but here is what he says about prepositions at the end of a sentence: It is a cherished superstition that prepositions must, in spite of the incurable English instinct for putting them latebe kept true to their name and placed before the word they govern. He says Dryden, Gibbon, and Ruskin spread the notion that English sentences must never end with a preposition. Dryden was so steeped in a classical education that he sometimes translated his sentences into Latin before writing them down in English. Gibbon was so determined not to end a sentence with a preposition that he avoided ending them with adverbs that looked like prepositions. For example, words like on, over, off, and under may be either prepositions or adverbs, depending on their function in the sentence, He ran after the wagon and jumped on. on is an adverb telling where He left on the horse he rode in on. on is possibly a preposition, but would the sentence be improved by writing He left on the horse on which he rode in? We still have a word that looks like a preposition ending the sentence. Would it really improve an idiomatic sentence like What did you do that for? to rewrite it as For what did you do that? Weve all heard how Churchill rebuked the secretary who revised the great mans sentences to avoid ending them with prepositions: This is the kind of arrant pedantry up with which I will not put. The sentence is funny and succeeds in poking fun at the over-venerated rule, but the expression put up with is a phrasal verb that means endure or suffer. Idiomatic English makes use of many such verb phrases: ask out George wants to ask Mary out. add up These figures just dont add up. As writers we need to be aware of the rules of our medium and strive not to write anything barbaric, i.e., unidiomatic. We need to be alert to differences between formal and informal expression, but whether we are writing a scientific treatise or an irreverent novel, we need to stay true to our instinctive grasp of our native language. Ill give Fowler the last word: Those who lay down the universal principle that final prepositions are inelegant are unconsciously trying to deprive the English language of a valuable idiomatic resource, which has been used freely by all our greatest writers except those whose instinct for English idiom has been overpowered by notions of correctness derived from Latin standards. The legitimacy of the prepositional ending in literary English must be uncompromisingly maintained; in respect of elegance or inelegance, every example must be judged not by any arbitrary rule, but on its own merits, according to the impression it makes on the feeling of educated English readers. For a useful list of phrasal verbs, visit Daves ESL Cafe. See Churchill on Prepositions for a discussion of the Churchill anecdote. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Grammar category, check our popular posts, or choose a related post below:Fly, Flew, (has) FlownFlied?Difference between "Pressing" and "Ironing"Narrative, Plot, and Story

The successfulness of using a mental disorder as a criminal defense Term Paper

The successfulness of using a mental disorder as a criminal defense - Term Paper Example This might have been due to the recent opinions on the ban of the death penalty for juveniles which might justify the barring of the execution of persons with various mental disabilities. Atkins v. Virginia The Atkins v. Virginia (00-8452) 536 U.S. 304 (2002) 260 Va. 375, 534 S.  E. 2d 312 case, is an example of cases that addresses the issue of death penalty, as a cruel and abnormal punishment and a violation of the Eighth amendment imposed upon a mentally retarded individual. Daryl Renard Atkins was convicted of abducting, robbing, and murdering Eric Nesbitt. During the hearing of Atkins’ sentence, the presented evidence was that Atkins was mentally retarded. The jury gave Atkins a death sentence. The Virginia Supreme Court ordered the second hearing, but Atkins was again given a death penalty; which the Virginia Supreme Court affirmed. The U.S Supreme Court granted certiorari to review the case (Carmen, Ritter, & Witt, 2008). The petitioner, Daryl Renard Atkins argued tha t procedures allowing the infliction of the death penalty on the mentally retarded individuals notwithstanding their diminished accountability violated the Eighth amendment. Atkins further argued that by executing a mentally retarded individual, the decency standards were offended. ... Justification for the death penalty, revenge and preclusion was appropriate for mentally retarded persons. It was risky to impose the death penalty, since the mentally retarded persons are expected to be poor witnesses and unable to support their counsel. Justice Stevens rendered the death penalty as inappropriate. Chief justice Rehnquist, Justice Scalia, and Thomas, agreed to the court’s reliance on the foreign laws, which prohibited the death penalty of mentally retarded persons. Rehnquist found out that when sentencing, jury information was considerable in determining contemporary values. The information and State legislations should be the major factor to determine the contemporary values (Carmen, Ritter, & Witt, 2008). Justice Scalia, Justice Rehnquist, and Thomas disagreed on the sentence after realizing that the court had agreed and followed personal feelings in deciding the case. Scalia noted that the information presented showed that there was a consensus, and that St ate legislation prohibiting execution of mentally retarded persons was not yet developed. Scalia further stated that, it is possible for one to fake the symptoms of mental retardation. Finally, Scalia pointed out that mentally retarded individuals are vulnerable to the death penalty. However, in sentencing, their background could be considered as a mitigating factor (Carmen, Ritter, & Witt, 2008). States that allowed the execution of the mentally retarded persons were forced to modify their statutes with regard to the decision made in the Atkins case. Moreover, it was noted that as a means of avoiding death penalty, more â€Å"mental retardation† claims were expected. The Atkins case is

Marketing to South Asians in Great Britain Assignment

Marketing to South Asians in Great Britain - Assignment Example It is "fundamental to successful marketing strategies. Until competitors copy or segment your segmentation, you have a competitive edge"(McBurnie and Clutterbuck, 1988). Why is this study important However, there are some segments of the British consumer public that are not being reached as effectively as others. One of these segments is the South Asian community - those from the Indian peninsula and the surrounding countries - and research shows that this represents half of the British immigrant population (Burton, 2002). Worldwide, immigrants from this region are underrepresented in marketing surveys and journal research (Stern, 1999; Williams, 1995). While 20,000 Indians and Eastern Europeans were recently allowed to immigrate into Germany because of shortages in the computer industry, there is no evidence that German marketers are taking advantage of this new segment (The Economist, 2000). This is a trend that is even more marked in Britain. There are several reasons for this: parts of the South Asian immigrant community are viewed as a sort of underclass (Lash and Urry, 1994); many perceive this group as lacking the purchasing power to join the consumer society (Sivanandan, 1989); there are very few South Asian marketing managers in British firms (Burton, 2002); and there is a confusion in some marketing firms as to how to reach the South Asian community (Gooding, 1998). While there is a growing awareness of this group as a "formidable [segment] as consumers, workers, and investors"(Palumbo and Teich, 2004), there are some areas of debate in just how this group should be reached. These include the rapidity with which immigrants from South Asia will gain consumer values similar to those of British society (Bhugra, Kamaldeep, Mallett, and Manisha, 1999); which consumer values will change at all, or remain the same (Ryder and Paulhus, 2000); whether or not British firms should use South Asian languages and cultural symbols in their marketing campaigns, trying to find a balance between a sense of welcome and a sense of ostracization (Palumbo and Teich, 2004; Koslow, Shamdasani, and Touchstone, 1994; Holland and Gentry, 1999); and at what point segmentation becomes isolation (Briley and Wyer, 2002). What will others learn from this study "There is no such thing as a simple demographic fact in international research" (Bartos, 1989). While research has shown a tremendous growth in technological capabilities of segmenting (Mitchell and McGoldrick, 1994), there is still a significant need for what has been termed a "bespoke" system (Openshaw, 1989) - one that can find target households and target customers efficiently. Some areas of concern that still exist in this area include more precise age targeting, outmoded data, and a way to predict what consumers will buy in the future - not just a list of what they have purchased in the past (Mitchell and McGoldrick, 1994; Openshaw, 1989). Why is this study necessary There is a good amount of research into qualitative characteristics of a successful segmentation strategy. Such concepts as well-designed planning, commitment and participation by senior management, effective selection of segment bases, flexibility with market trends, and marketing

Marketing on Women Essay Example | Topics and Well Written Essays - 500 words

Marketing on Women - Essay Example Today, women are well educated, travel, and live alone in new cities, and they form a mobile workforce. Women are active in almost all sectors, such as engineering, manufacturing, construction, hospitality, healthcare, entertainment and TV, and many other sectors. Thus, the earning power of women has increased, and they do not have to depend on their husbands, fathers, brothers, or partners to buy products2. Statistics: In USA, high net worth women make up 39 percent of the top earners while 2.5 million women have assets of $ 4.2 trillion. About 43 percent of women in USA have assets of more than $ 500,000. Estimates until 2020 indicate that women will control and manage about two thirds of the national wealth and control about $ 40 trillion. Generally, women make 95 percent of the decisions to buy a large number of products, while in groceries; they make 99 percent of the decisions. Estimates indicate that women are the decision makers for 85 percent of all consumer goods, 91% of new homes, 92 percent for vacations, 65 percent for new cars and 93 percent for pharmaceuticals, beauty products and personal hygiene items. Women also participate in online buying and 22 percent shop online almost daily, and they post reviews about their purchase, post messages in social media and write to marketing firms about their pleasure or displeasure3. Loyalty: Studies indicate that womens loyalty is less for some types of products such as consumer goods, groceries and toiletries. They look at a number of factors such as product quality and price and they would be willing to try new products that are recommended by friends or that cost less, but the products must meet the expected quality requirement. Celebrity endorsements have limited appeal, unless women like the products. Women also tend to be more loyal to the service provider such as the waiter,

Managing Finance - short- term debts and liabilities Essay

Managing Finance - short- term debts and liabilities - Essay Example And that's when it is said that this particular business is having cash-flow problems. The daily operations working capital is used to manage include, stock purchases, salaries and wages, heating and lighting expenses, funding of credit sales etc. (McKosker, Philip, March 1, 2000) Components of working capital include all those things that form part of the definition of working capital since working capital equals current assets less current liabilities, all those things that are categorized under these two things can be called a component of working capital. The three main components namely are, inventory, payables and receivables. Inventory here includes all the stock, opening plus closing. (Managing Working Capital, n.d.) Inventory also includes raw materials,work-in-progress stock of goods and even finished stock of goods. These all are categorized under the assets portion on a business balance sheet. (Inventory, 2008) Inventory payables refers to a business's creditors who are those people or institutions from where you borrow loans or buy good/stock from on credit. A creditor is hence an organization or person who gives out credit to other businesses. A business pays these people at the end of a term or after a set time period as arranged or agreed upon through a contract. (Creditor, 2008) Receivables, on the other hand are those people or organizations that owe the business rather. ... Hence, they are termed as debtors. Just like creditors, businesses form a contract with them too which states how much money ahs been given, for how long, for what and when will it have to be repaid etc. (Money You are Owed, 2004). There are sources of working capital. These are called parts of working capital of a business. These are: cash held in reserve in the business, band OD (over-draft), remaining or retained profits, loans, credit attained from creditors, and long-term loans. (Managing Working Capital, n.d.) 'Control of working capital has always been thought to be the most important factor in the short-term financial management of companies' This statement, I believe is very much true for businesses working today. These days as competition amongst companies has been soaring up almost perpetually, it is highly important for these companies to manage their working capital well. It does not just depend or vary from one economic situation to another, rather on he basic fact that these companies all need to survive first and foremost. Hence, managers or financial executives or anyone who has the work of managing cash flows for a business aims to maximize working capital and get more value for money generally. Another way to say this is through acquiring more worth for short-term cash or cash as a business' current asset. (Bauer, Dennis, 2007). It is highly imperative for these managers to handle each component of working capital efficiently. These components have already been discussed above. (Working Capital, n.d.) It is often said that working capital is the lifeblood of an organization. It holds so much information that it is sometimes claimed

The Australian Food Industry Essay Example | Topics and Well Written Essays - 2250 words

The Australian Food Industry - Essay Example The food industry in Australia produces a large quantity of a variety of products. Although the weather in the land down under is mostly dry, there is still a variety in the types of land and in the weather. There are areas that have tropical weather, coastal areas that experience much rain, and dry to medium dry areas. Each area uses the type of climate that they have to produce specific kinds of food products. With this variety of climate, combined with the recent development in food processing and technology, Australia has gained a reputation for being one of the steadiest food suppliers across the globe. (About Australia, 2008) As with most countries, Australia's food industry has been a massive contributor to its economic condition. Forty six percent of the retail profits across Australia for the years 2006 to 2007 have come from the food industry. There was a significant increase of 8% in the turn over from last year's production. In the year span of 1980s and 1990s, several varieties of industries were established due to new and pressing demands in the market. Some land-based fresh produce were brought to the market such as Asian vegetables, fruits and herbs. Atlantic salmon farming was also brought into the industry at that time, along with the catching of Bluefin Tuna that grew out of wild. Apart from these products, meats of kangaroos and crocodiles have gained popularity in recent times. The respective sub-industries of these foods have been trying to introduce more and more similar products into the Australian market, and the global market as a whole. (About Australia, 2008) Australian Processed Food There are several sub sectors in the processed food industry in Australia. These are bakery products, beverage and malt manufacturing, dairy products, flour mill and cereal food manufacturing, fruit and vegetable processing, meat and other meat products, oil and fat manufacturing, seafood processing, sugar and confectionery manufacturing, and other food manufacturing. The sheer number of sub-industries under the Australian food industry should be enough to tell us how flourishing this industry is. The industry with the largest revenue in 2005-2006 is the food and beverage industry. As earlier mentioned, the Australian food industry has been a large contributor to the country's economic standing. This is because the food industry provides businesses, jobs and regional development where it operates. Fifty of the country's biggest food and beverage companies are responsible for seventy-five percent of the income of the local industry. Supermarkets are responsible for the majority of sa les of food products in the country, where sixty percent comes from the sale of food and liquor in 2006-2007. (About Australia, 2008) The Organic Industry in Australia In recent times, there has been a huge demand for organic products to be released in to the markets, not only in Australia, but across countries as well. Major food companies, such as Nestle and Unilever were some of the first large companies to venture in to production of organic food across different processed food products. Australia has followed the trend through a small and significant, but quickly growing group of farmers producing organic products. The essence of organic foods is such that consumers are aware that they will be paying a

HR Assignment Example | Topics and Well Written Essays - 250 words - 2

HR - Assignment Example Effective change management is the driving force behind any successful organization. In an organization that staff always resist any proposed change, the ultimate results are backwardness and a stagnant organization that cannot undertake any innovative product development (Creasey & Hiatt, 2003). Such firms cannot stand fiercely competitive environment and the collapse are an obvious outcome. As a result, the event will take the staff through the outstanding benefits of accepting change within the organization. An organization that can influence its staff to accept and harmoniously implement change will remain relevant amidst the competition levels within an industry. In addition, the workforce benefits greatly as sale volume rises beside attracting and retaining more customers. Such workforce can thus get better remuneration packages thus increased living standards. A motivated worker gives his all in the organization leading to ever rising firm’s productivity that increasingly facilitates better wage and other motivational packages to workers. Thus, staff must embrace a readiness to change

The Australian Food Industry Essay Example | Topics and Well Written Essays - 2250 words

The Australian Food Industry - Essay Example The food industry in Australia produces a large quantity of a variety of products. Although the weather in the land down under is mostly dry, there is still a variety in the types of land and in the weather. There are areas that have tropical weather, coastal areas that experience much rain, and dry to medium dry areas. Each area uses the type of climate that they have to produce specific kinds of food products. With this variety of climate, combined with the recent development in food processing and technology, Australia has gained a reputation for being one of the steadiest food suppliers across the globe. (About Australia, 2008) As with most countries, Australia's food industry has been a massive contributor to its economic condition. Forty six percent of the retail profits across Australia for the years 2006 to 2007 have come from the food industry. There was a significant increase of 8% in the turn over from last year's production. In the year span of 1980s and 1990s, several varieties of industries were established due to new and pressing demands in the market. Some land-based fresh produce were brought to the market such as Asian vegetables, fruits and herbs. Atlantic salmon farming was also brought into the industry at that time, along with the catching of Bluefin Tuna that grew out of wild. Apart from these products, meats of kangaroos and crocodiles have gained popularity in recent times. The respective sub-industries of these foods have been trying to introduce more and more similar products into the Australian market, and the global market as a whole. (About Australia, 2008) Australian Processed Food There are several sub sectors in the processed food industry in Australia. These are bakery products, beverage and malt manufacturing, dairy products, flour mill and cereal food manufacturing, fruit and vegetable processing, meat and other meat products, oil and fat manufacturing, seafood processing, sugar and confectionery manufacturing, and other food manufacturing. The sheer number of sub-industries under the Australian food industry should be enough to tell us how flourishing this industry is. The industry with the largest revenue in 2005-2006 is the food and beverage industry. As earlier mentioned, the Australian food industry has been a large contributor to the country's economic standing. This is because the food industry provides businesses, jobs and regional development where it operates. Fifty of the country's biggest food and beverage companies are responsible for seventy-five percent of the income of the local industry. Supermarkets are responsible for the majority of sa les of food products in the country, where sixty percent comes from the sale of food and liquor in 2006-2007. (About Australia, 2008) The Organic Industry in Australia In recent times, there has been a huge demand for organic products to be released in to the markets, not only in Australia, but across countries as well. Major food companies, such as Nestle and Unilever were some of the first large companies to venture in to production of organic food across different processed food products. Australia has followed the trend through a small and significant, but quickly growing group of farmers producing organic products. The essence of organic foods is such that consumers are aware that they will be paying a

Pregnancy and Mood Stabilizing Drugs Essay Example | Topics and Well Written Essays - 1000 words

Pregnancy and Mood Stabilizing Drugs - Essay Example From this study it is clear that drugs commonly prescribed for patients with depression or to bipolar disorder patients include valproate, carbamazepine, lamotrigine and lithium carbonate, all of which pose risks for the growing foetus. Based on various studies, it was found out that sodium valproate and carbamazepine pose highest risks for malformation or defects, reaching up to 7.2% increase in risks. Despite the possibilities for birth defects, most studies support the idea of continuing mood-stabilising medications all throughout pregnancy to reduce the likelihood of relapse or recurrence of manic or depressive episodes. This is because the benefits of using medications outweigh greater risks of psychotic episodes for the mother, resulting to suicidal attempts or infanticide, as well as bonding and attachment issues between the infant and the mother. Due to these, it is highly-recommended by psychiatrists that women of child bearing-age diagnosed with bipolar disorder or other re lated disorders regardless of relationship status or plans of getting pregnant must be well-informed of the risks in taking mood-stabilising medications and other prescriptions during pregnancy. In order to successfully achieve these goals, it is imperative that psychiatrists must strike a balance between medication use and outweighing the risks for foetal and infant malformation in women taking prescription drugs. Studies conducted during the 1970’s when psychotropic drugs were still subjected to tests revealed that the use of such drugs caused birth defects in infants, whose mothers were using medications while pregnant.  

Group members documents Essay Example for Free

Group members documents Essay When I compared with my group members documents, we had the same format of explaining only the bits that were different was that how much information each one had included. Also I found that I did not included a telephone number whom to contract if the candidate is not satisfy with the result. This was lacking from my document as we though it is very important to give feedback if the candidate arent happy with the company. We chose Chelsie letter because her letter stood out among us and she also explained in detail why the candidate was rejected in a very polite way and thanking the candidate twice one in the beginning and the other at the end. Also the fact that she has broken down into paragraphs explaining on the matter fact that why the the reason of not being successful. She has also stated that the company likes the candidate potential but there was another person who suited the best position so therefore she has explained that the candidate will be kept in a file informing when a vacancy arise the company will inform the candidate. By this it gives a little hope or a chance for the candidate that the company likes the candidate and they do not want to loose a potential candidate so therefore they kept the candidate to a hold position. Which I think will be easier for the company later on because they do not need to go through the interview process again when wanting to recruit a staff. The use of short simple paragraph also makes us choose her document. In the rejection letter it has included a brief summary of why the candidate is rejected and wishes the candidate best of look in the future for further career. For the induction programme I believe my document has included all the necessary information that needs to be included in an induction document. I included a logo and picture of the staff members. This is because it will help enhance the look of the document as well as represents the company staff which in a result it will look interesting to read and candidate know the company dress code. The company follows the legal legislation as ASDA employ all kind of people to give everyone an equal opportunity to work in the company. Which you can see in the picture. I used bold and bigger font size for the main heading as it will make it stand out from rest of the document. Furthermore, I also used bullet points so that it makes a lot easier for the candidate to read and understand not only that they will be able to see it quicker and get the main points without having to read thoroughly which leads to less time consuming. I divided the parts into sections such as what the first day will include and the second day etc. Which will be helpful for the candidate to know before hand as they can get to prepare earlier. When comparing my document with my group members I found out that all of us had quite a similar documents. Only the layout and designs of the documents were different making it easier for us to choose. Taking it consideration about that we chose Arry document because we felt his document was very professional. This is because he has used text box and simple language with short paragraphs and bullet points to make it easier for the reader to read. Also dividing each of the information into three bits makes it more helpful to understand because it sates what each paragraph represents. The most important part that made us choose was that he included a time table for the candidate to follow which is very useful because it allows the candidate to follow what will be held in that day and it is less likely for the candidate to get lost in the place. For the motivational package again I believe in my document I have stated all the information that needs to be in a motivational document. Again in the document I included a logo and a picture of the company main managers and supervisors. Which makes the document look attractive. I have included all the financial and non financial benefits that the company offers to the candidates. For example I have included them in using bullet points and in short paragraphs explaining in brief summary what each benefits counts and what candidate are able to get. When comparing my document with my group members I think that my document is lacking with so many different points. For example I do not have a front cover for the motivational document which now I think it is important to have as it reflects the overall page of the document. I have not stated a brief summary about what benefits candidate can get and how they can apply to. I have just stated some and the very popular benefits. I also havent included all the benefits that the company offers to the candidate which in result candidate wont be able to know all their benefits which I think it is a very serious matter to take action on to the company if they do not fully explain the benefits. There are many things that I need too improve in order for my document to look professional as good as my group members document. For the motivational package I personally think that I have created the worst document and it is not created to a high standard level among all other previous documents I have produced. I believe that is why for my motivational document it was not chosen by the group members as my documents information were too many missing. So therefore, for the final document we chose Chelsie document. This is because her document is the best among us. Such as she has a massive detail about the motivation as how to encourage staff to work harder to earn the benefits that the company offers to them. We believe that the whole point of the motivational package is to encourage staff to work hard. Her document is well structured in informing the full summary of the benefits the candidate are entitle to which makes it very informative. The use of short and simple paragraph makes it even look better as you can quickly read and get the information fast and its quite straight forward. The rest of our document has also got the relevant information but not that detail like Chelsie. So therefore we chose Chelsie document for the final version of our group document.

Privacy on Social Networks Essay -- Security Privacy Web

This essay will discuss and critically analyse whether or not existing data protection laws protect the privacy of individuals whose personal information has been disclosed on social networking sites. Over the last decade social networking sites (SNS) have increased their popularity among the people. These SNS are mySpace, facebook, twitter, bebo etc. There are various reasons of people using these sites. However, majority of SNS users are those people who use these sites for social networking e.g. chatting with friends, sharing their interests etc. These SNS users do not only have data relating to them but also the data of third parties. Many of these users do not take care of other people’s personal information, for example, they share their family and friends information with other strange people. It is not that only SNS users do not take essential care of other’s personal information, SNS themselves seems uninterested to protect personal information of its users. One should know what personal information is according to data protection directive? According to (article 2 (a)) of the data protection Directive, the information that qualifies as personal information is â€Å"Information only qualifies as personal data if it directly or indirectly relates to an identified or identifiable natural person. In order to determine whether a person is identifiable, account should be taken of all the means likely to be reasonably used either by the controller or by any other person to identify the said person (recital 26). As a result, most information that is made available on a social network (messages, photos, personal preferences, lists of friends) qualifies as personal data†. (Eecke, P V., and Truyens, M, 2010) The relationship... ...ivacy [Accessed 23/11/2010]. Michells, S (2008) Teachers’ Virtual Lives Conflict With Classroom [Online] .Available from: http://abcnews.go.com/TheLaw/story?id=4791295&page=1 [Accessed 01/12/2010]. King, J., N and Jessen, W, P () Computer Law & Security Review: Profiling the mobile customer – Privacy concerns whe behavioral advertisers target mobile phones. [Online]. Volume 26, Issue 5, September 2010, Pages 455-478. Available from: http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6VB3-5148KHG-2&_user=7302582&_coverDate=09%2F30%2F2010&_rdoc=2&_fmt=high&_orig=browse&_origin=browse&_zone=rslt_list_item&_srch=doc-info%28%23toc%235915%232010%23999739994%232448744%23FLA%23display%23Volume%29&_cdi=5915&_sort=d&_docanchor=&_ct=13&_acct=C000010139&_version=1&_urlVersion=0&_userid=7302582&md5=53de92f66e34be4a93c2b10f879597a0&searchtype=a [Accessed 02/12/2010]. Privacy on Social Networks Essay -- Security Privacy Web This essay will discuss and critically analyse whether or not existing data protection laws protect the privacy of individuals whose personal information has been disclosed on social networking sites. Over the last decade social networking sites (SNS) have increased their popularity among the people. These SNS are mySpace, facebook, twitter, bebo etc. There are various reasons of people using these sites. However, majority of SNS users are those people who use these sites for social networking e.g. chatting with friends, sharing their interests etc. These SNS users do not only have data relating to them but also the data of third parties. Many of these users do not take care of other people’s personal information, for example, they share their family and friends information with other strange people. It is not that only SNS users do not take essential care of other’s personal information, SNS themselves seems uninterested to protect personal information of its users. One should know what personal information is according to data protection directive? According to (article 2 (a)) of the data protection Directive, the information that qualifies as personal information is â€Å"Information only qualifies as personal data if it directly or indirectly relates to an identified or identifiable natural person. In order to determine whether a person is identifiable, account should be taken of all the means likely to be reasonably used either by the controller or by any other person to identify the said person (recital 26). As a result, most information that is made available on a social network (messages, photos, personal preferences, lists of friends) qualifies as personal data†. (Eecke, P V., and Truyens, M, 2010) The relationship... ...ivacy [Accessed 23/11/2010]. Michells, S (2008) Teachers’ Virtual Lives Conflict With Classroom [Online] .Available from: http://abcnews.go.com/TheLaw/story?id=4791295&page=1 [Accessed 01/12/2010]. King, J., N and Jessen, W, P () Computer Law & Security Review: Profiling the mobile customer – Privacy concerns whe behavioral advertisers target mobile phones. [Online]. Volume 26, Issue 5, September 2010, Pages 455-478. Available from: http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6VB3-5148KHG-2&_user=7302582&_coverDate=09%2F30%2F2010&_rdoc=2&_fmt=high&_orig=browse&_origin=browse&_zone=rslt_list_item&_srch=doc-info%28%23toc%235915%232010%23999739994%232448744%23FLA%23display%23Volume%29&_cdi=5915&_sort=d&_docanchor=&_ct=13&_acct=C000010139&_version=1&_urlVersion=0&_userid=7302582&md5=53de92f66e34be4a93c2b10f879597a0&searchtype=a [Accessed 02/12/2010].

Comparing Crime and Punishment and Notes from the Underground :: comparison compare contrast essays

Crime and Punishment and Notes from the Underground  Ã‚  Ã‚   Crime and Punishment and Notes from the Underground   Ã‚  Fyodor Dostoyevsky's stories are stories of a sort of rebirth.   He weaves a tale of severe human suffering and how each character attempts to escape from this misery.   In the novel Crime and Punishment, he tells the story of Raskolnikov, a former student who murders an old pawnbroker as an attempt to prove a theory.   In Notes from the Underground, we are given a chance to explore Dostoyevsky's opinion of human beings.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Dostoyevsky's characters are very similar, as is his stories.   He puts a strong stress on the estrangement and isolation his characters feel. His characters are both brilliant and "sick" as mentioned in each novel, poisoned by their intelligence.   In Notes from the Underground, the character, who is never given a name, writes his journal from solitude. He is spoiled by his intelligence, giving him a fierce conceit with which he lashes out at the world and justifies the malicious things he does.   At the same time, though, he speaks of the doubt he feels at the value of human thought and purpose and later, of human life.   He believes that intelligence, to be constantly questioning and "faithless(ly) drifting" between ideas, is a curse.   To be damned to see everything, clearly as a window (and that includes things that aren't meant to be seen, such as the corruption in the world) or constantly seeking the meaning of things elusive. Dostoyevsky thought that humans are evil, destructive and irrational.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     In Crime and Punishment, we see Raskolnikov caught between reason and will, the human needs for personal freedom and the need to submit to authority.   He spends most of the first two parts stuck between wanting to act and   wanting to observe.   After he acts and murders the old woman, he spends much time contemplating confession. Raskolnikov seems trapped in his world although there is really nothing holding him back; he chooses not to flee and not to confess, but still acts as though he's suffocation (perhaps guilt?)In both novels defeat seems inevitable. Both characters believe that normal man is stupid, unsatisfied and confused.   Perhaps they are right, but both characters fail to see the positive aspects of humans; the closest was the scene between the narrator of Notes from the Underground and Liza.   In this scene he almost lets the human side show, rather than the insecure, closed off person he normally is.

Civil War Inevitable Essay

By the end of 1854 the two sections, the North (Union) and the South (Confederacy) had reached an impasse and that Civil War was inevitable sooner or later. The conflicts grew tension between the two, the manufacturing section of the North and the agricultural South, which led to Civil War. Between the North and the South there were economic, social and political differences. The North had a number of goals concerning slavery and the South. The North wanted to abolish slavery, stop the spread of slavery in the western territories, and the spreading of slavery in Kansas. And the immediate reason for the Civil War was to save the union. While the South wanted to continue slavery, spread slavery throughout the western territories, and ensure establishment in Kansas territory. Nevertheless, after seizing Mexico and the spreading of territories westward the South depended highly on slavery because of the â€Å"cotton king†. One of these territories included the Kansas-Nebraska where many newcomers and the proslavery settlers began to move into the territory. In this territory after the 1852 election, the temporary peace of the Compromise of 1850 came to an end. Senator Stephen Douglas passes the Kansas-Nebraska Act which created two new territories of Kansas and Nebraska. The status of slavery in the area was decided to be by popular sovereignty. This act wrecked two compromises The Compromise of 1820, and 1850, and the democratic party. While the act formed a new party: the Republicans. Throughout many compromises, and conflicts one of the large decisions was the Dred Scott decision. Dred Scott, who had lived in Illinois for 5 years with his master, sued his master for his freedom because Illinois was a free state. The decision concluded by the court ruled that because the slave was a property the master could take them in any area. With this decision it delighted the Southerners’, while it made the Northerners’ angry. As the North and the South became angry at each other and took different sides, one of the main conflicts was the election of 1860. The new Republican Party chose Abraham Lincoln for their candidate, which won for president. Now with Lincoln being the president the south felt very uncomfortable since Lincoln wanted a preserve union and anti-slavery. For  this reason South Carolina succeed from the union. As later on more states started succeeding from the Union, where they formed the Confederacy. This outraged the North. Now the North and the South had become two different sections, making the Civil was inevitable. The existence of slavery was the main conflict between the North and the South that led to other conflicts such as the Kansas-Nebraska Act, the Dred Scott decision, and the election of President Abraham Lincoln. The conflicts made the Civil War inevitable to escape. The two sections had two different choices the North wanted to abolish slavery while the South the opposite. But after the South seceded the Civil War started.

Study On The Flatiron Building Anthropology Essay

[ Outline: This is a 5 page term paper written in MLA format explicating why any interior decorator in the modern epoch should be interested in the Flatiron Building, constructed in 1902 in New York. The paper gives a description of the most bewitching architectural characteristics of Flatiron edifice that make it alone and admirable. The paper relies on 2 beginnings. ]The Flatiron BuildingEric Nash clearly describes the Flatiron edifice located in New York City. Its building was completed in 1902 and it is one of the most popular and best known skyscrapers in the universe that derives its name from its Fe like form. It is an energetic combination of Renaissance and Gothic architectural manners. It is made up of broad, good designed 22 narratives which are divided into three parts, viz. , the beginning, the center and the terminal, merely like a classical Grecian column. The Flatiron ‘s dramatic form and its exceeding tallness stretch its classical attire uneasily.1 Picture demoing the beginning, the center and the top of the Flatiron 1 Eric Nash, Manhattan Skyscrapers. ( New York: Princeton Architectural Press, 1999 ) 121. Eric Nash clearly shows that the edifice was constructed utilizing structural steel frame with extended air current brace intentionally made to defy crabwise force per unit area from the air current. This reflects recent credence of the all-steel skeleton for skyscrapers in New York. The skeleton steel framing of Flatiron edifice is light and less susceptible to fire amendss as compared to press, therefore doing the edifice stronger and more lasting. Use of steel skeleton in building of Flatiron made it possible for the edifice to be elevated higher up to twenty two floors as opposed to lade bearing walls that antecedently restricted the tallness bearable by their tonss. The edifice was constructed on a rectangular cuneus piece of land giving it its authoritative captivating visual aspect from the land to the sky. He farther argues that unlike New York ‘s early skyscrapers taking the signifier of towers that were constructed lifting from a lower blockier weight like the modern- day Singer Building, the Flatiron edifice has limestone and glassy terra cotta faCade which is divided into a triangular base, shaft and capital.2. Eric Nash observed that Flatiron ‘s ornate but restrained frontage was made utilizing terra-cotta panels and rock making signifiers that simulate any effects of rustication, doing it long lasting. Rusticated limestone is uniformly detailed from the land of the Flatiron edifice to the sky to guarantee that there are slender opportunities of Flatiron ‘s devastation by environmental conditions. The Flatiron ‘s masonry insularity, its outer tegument of rock and glazed terra-cotta protects it from any rough conditions conditions which could otherwise destruct the edifice. Besides this, the Flatiron ‘s rustication and to a great extent prornamented forms of these walls, every bit good as the cautiously sized Windowss, give the faCades a heavy visual aspect, this is attractive to the eyes 3 2 Nash 123 3 Nash 125Picture demoing Flatiron ‘s outer tegumentAndrew Dolkart observed that the multistory oriels in the middle, which are outstanding in many of Burnham ‘s Chicago edifices, are merely hardly perceptible on the busy, more enclosed tegument of the Flatiron. This greater ocular weigh of the repartition of the overall design into a distinguishable base, a insistent middle, and a crowning valance extended to 22 narratives, makes the whole Flatiron appear column-like, separating the edifice from the remainder. He farther observed that the long, thin triangular footmark of the Flatiron extrudes up through all its 20 two narratives. With all three facades confronting the streets, this tall, thin edifice was designed to ever hold really well-lit office infinites. At the vertex of the Flatiron edifice, the triangular tower, which is merely 6.5 pess ( 2 metres ) broad and a tallness of 80 seven Meters is seen to depict an ague angle that is approximately estimated to be 25 gr ades when viewed from bird ‘s oculus position. The ague angled corners bring out a dramatic, exaggerated position which is alone and extremely admirable. 44Andrew Dolkart. Architecture Development of New York City and the Birth of Skyscraper. ( Columbia: Columbia University 2009 ) . 11 Eric Nash farther observed that the most acute angle of the Flatiron points north, doing the edifice to look like it has a small deepness like a wall leaned precariously against the sky, separating it from any other edifice in the vicinity. The inside of the Flatiron has queerly shaped broad offices with their walls cutting through an angle on their manner to skyscraper ‘s celebrated point. This gives the edifice rather a beautiful and attractive expression. The gravity-defying semblance of the edifice is further enhanced by the tremendous valance projecting sharply from the top of the edifice, giving the whole matter a top-heavy visual aspect. The elements of Flatiron ‘s design tantrum in comfortably with the general development of the house in which the edifice was constructed.5 Harmonizing to Andrew, The unconventional triangular batch coupled with exceeding tallness transformed architectural conventions of Flatiron into a beautiful alone construction. The edifice stuffs used for Flatiron were cost effectual, efficient and made it possible for it to be rapidly erected. Flatiron was so a perfect architectural solution to America ‘s turning business districts in the twentieth century. It consists of 13,400 square metres of office infinite and decidedly one of the Stockholm ‘s new landmarks. The dramatic ocular presence of this uncommon perpendicular mass is what makes the edifice immediately celebrated both with tourers and those in the humanistic disciplines coping with the nature of New York ‘s modernity.6 5 Nash 136. 6 Dolkart 13.DecisionThis paper started by depicting the form and location of the Flatiron edifice constructed in 1902 in New York. It further discussed in item the design and architectural characteristics of the edifice that make it really alone despite the fact that it was constructed over 100 old ages ago. Its characteristic structural division into three parts, the beginning, the center and the terminal gives it a alone appealing visual aspect. Its alone triangular form design and the cuneus shaped piece of land where the edifice was erected spring it an first-class position hence it is easy distinguished from all other edifices in the vicinity. The edifice ‘s little breadth of merely two metres and exceeding tallness of 80 seven metres lodging twenty two storey distinguishes it from ancient heavy broad edifices. While seting more accent on the singularity and lastingness of the stuffs in building of Flatiron edifice used such as the radical steel frame which is less suscep tible to fire unlike Fe, the limestone covering arising from the land to the sky to protect the edifice from rough conditions conditions, and the white terra cotta tegument in the Italian Renaissance manner which gives the edifice a extremely admirable dramatic position. From the findings of this paper, it is obviously clear that the Flatiron edifice is rather a alone edifice in both the construction and the design and hence any designer or interior decorator would be interested in its construction and design.Plants CitedNash, Eric. Manhattan Skyscrapers. New York: Princeton Architectural Press, 1999. Dolkart, Andrew. Architecture Development of New York City and the Birth of Skyscraper. Columbia: Columbia University 2009.Siteshypertext transfer protocol: //hermis.alberta.ca/ARHP/Details.aspx? DeptID=1 & A ; ObjectID=4665-0499 hypertext transfer protocol: //www.nyc-architecture.com/GRP/GRP024.htm

How Organizations Can Learn from Failure

How can organizations learn from failure? Companies can learn from failure by setting up clear systems of measurement and utilizing certain performance indicators which record failures in detail. Simply not overlooking failure as something inevitable? First failure is defined. Second explanations on how organizations should go about thinking about failure in the right way. Third, elaboration on methods organizations could potentially use to learn from failure. Finally, what organizations can learn from failing.Even though there is a no precise definition for failure in organizations, there is a general agreement to what failure means and could lead to. Failure is broadly defined as a condition of not meeting the intended objective or end. Failure could result in the depletion of finance, shrinking market, exit from the market, loss of market share, project failure and loss of legitimacy. We can assume that failure has negative consequences even though the final outcome may be positiv e, with firms learning from failure.Understanding the need for learning from failure is unquestionable; however it is tough for organizations to put this into practice. It is crucial that organizations understand failure and think about it in the right way before they can go about implementing procedures to prevent such failures from happening in the future. Learning from failure involves understanding that failure is not always bad and that learning from failure is no straightforward task. An organization cannot simply reflect on what they did wrong and expect to not make the same mistakes again.Organizations have to understand about the different degrees of failure which occur on a scale ranging from blameworthy to praiseworthy. They fall into three broad categories which are 1, failures which occur in predictable operations which could be prevented. 2, unavoidable failures which occur in complex organizations which can be managed to prevent snowballing. 3, unwanted outcomes†¦. To learn from failure, we require different strategies for each setting. It is key to detect them early, analyze failures with depth, develop hypothesis, experiments and projects to product them.In order to minimize failure employees first have to feel safe to report these failures. In the article titled strategies for learning from failure the author Amy C. Edmondson talks about http://hbr. org/2011/04/strategies-for-learning-from-failure/ar/1 First the organization has to go about understanding failure in the right way as well as all the possible side†¦ Important for managers to think about failure in the right way. Failure is not always bad. It is sometimes bad and sometimes inevitable and sometimes good.Learning from failure is not a straightforward task. The attitudes and activities required to effectively detect and analyze failures are in short supply in most companies and the need for context-specific learning strategies is underappreciated.? Organizations need new a nd better ways to go beyond lessons which are superficial( procedures which weren’t followed) or self serving ( The market just wasn’t ready for our great new product) That means jettisoning old cultural beliefs and stereotypical notions. The blame game?A spectrum of reasons for failure? http://www. uk. sagepub. com/upm-data/10989_Chapter_9. pdf Failing to learn from failure reasons? -Simply experiencing a negative event is not sufficient for learning. – Learning can be a complicated process, the acquisition of knowledge and the shifts in behavior must occur at all levels of a highly complex system. â€Å"Bazerman and Watkins (2004) contend that, when organizations fail to learn failures, they become susceptible to predictable surprises. What is the difference between predictable and unpredictable surprises?Predictable surprises occur when an organization leadership ignores or fails to understand clear evidence that a potentially devastating problem to occur. T here are different sort of failures and not all failures are created equally. Bazerman and Watkins( 2004) identify four ways in which organizations fail to learn from failures that occur around them: Scanning Failures: failure to pay close attention to potential problems both inside and outside the organization; this failure could be due to arrogance, a lack of resources, or simple inattentions?Intergration failures: failure to understand how pieces of potentially complicated information fit together to provide lessons of how to avoid crises. 3. Incentive Failures: failure to provide sufficient rewards to people who report problems and take actions to avoid possible crises 4. Learning Failures: failure to draw important lessons from crises and preserve their memory in the organization Organizations who face these failures potentially could damage their organizational integrity. Eg Mitroff and Anagnos 2001, Managing Crises before they happen: what every manager needs to know about cr isis management. 1982, Johnson and Johnson could respond to an external crisis with their product being linked to cyanide poisoning and thus the company responded quickly by pulling their stock of capsules from the shelves and having great PR work. J and J knew how to handle their PR well and their product managed to get back to the top seller. J and J however became a victim of its previous success and had not done well with ‘Predictable surprises’ where crises occurred within the company. J and J had failed to do proper product scanning and had been a different sort of failure. failure of a different type? Failure of Success. Problem 1 and 4. Learning from failure: Sitkin 1996- Mittelstaedt (2005) – Failure is an essential part of learning for many organizations. Failures, should not be hidden or avoided. Making mistakes is essential to success, a company which appears to be free from disruption may be operating unrealistically and from a uniformed perspective. â€Å"learning to identify mistakes analytically and timely is the difference between failure and success. † Too often employees and managers are unwilling to admit small failures for fear of reprisal.The unwillingness to recognize and embrace failure is also a failure to recognize and respond to potential crises. The longer these small crises build up the higher likelihood it could escalate into a major crisis. In successful organizations, failure creates recognition of risk and a motivation for change that would not exist otherwise. Describes this recognition as a â€Å"learning readiness† without failure, very difficult to produce in most organizations. Sitkin cautions that not all failures are equally effective in fostering good risk management.Organizations learn best from intelligent failures, which have these characteristics, result from planned actions, uncertain outcomes, modest in scale, and take place in domains that are familiar enough to permit effective learning. Organizations need to recognize risks by accepting and acting on failures. Learn the best when failure results from competent actions, not major crises. Still within the comfort zone and employees are eager and experienced enough to respond. These opportunities arise: Vicarious Learning – learning that occurs as a function of observing, retaining and replicating behavior observed in others.Organizations need not fail as an entity in order to learn. Successful organizations engage in vicarious learning in order to recognize risk, organizational leaders observe the failures or crises experienced by similar organizations and take action to avoid making the same mistakes. Examples of Vicarious Learning- Give!!! Organizational memory: Without learning from their own and other’s mistakes organizations stagnate and fail to respond to potential threats in an ever-changing world. Learning has no use if the knowledge is not retained.An example of failure in organizatio nal memory is the Union carbide plant in Bhopal, India in 1984. Early in December morning, the plant leaked a deadly cloud of gas that settled over part of the sleeping city of a million residents. Within two hours 2000 of them were dead with thousands left injured? Part of the reason for the disaster was a loss in organizational memory. The plant had been slated for closure and many experienced staff had been transferred out, leaving minimal crew with little work experience, with the training for remaining crew at a minimum. The crisis was traced to staff reductions and oversight failures.Much of the blame for the tragedy rests with a rapid reduction in experienced staff that took with them a large share of organizational memory. Organizational memory comprises of, a) Acquiring knowledge, done by recognizing failures within the organization and by observing failures of similar organizations. b) Distributing knowledge is the key to organizational memory. Highly experienced employees will leave the organization and these people should be given an opportunity to share their knowledge around or those departing personnel will go along with their experience. ) Acting upon knowledge, is important for organizational memory to serve an organization. New employees need to learn from those departing ones.! New employees cannot do things their own way or else it will lead to repeat failures†¦.!!!! Employees have many opportunities to discard the hard-earned knowledge. Because organizational memory depends on exchanging information from one person to another perception change, mistreatment and stubbornness to learn can disrupt preserving organizational memory. Organizations need to learn and build from previous experiences.Unlearning: Effective organizational learning depends on an organizations ability to unlearn practices and policies that have become outdated by environmental changes. Example of Unlearning 1. Expanding Options: When organizations are unwilling to forego routine procedures during crisis or potential crisis situations, they lose the capacity to react to unique circumstances. Unlearning enables the organization to expand its options. 2. Contracting Options: In some cases, organizations may respond to a crisis with a strategy that has worked well in the past.In the current situation, however, the strategy from the past may actually make matters worse. In such cases, organizations must be willing to reject some strategies in favor of others. 3. Grafting: In the previous section, we discussed the need for organizations to hand down existing knowledge to new employees. If the socialization of new employees is so intense that they cannot bring new knowledge to the organization, however, the organization is doing itself a disservice. Although organizational memory is essential, some degree of unlearningOpportunity 1: Organizations should treat failure as an opportunity to recognize a potential crisis or to prevent a similar crisis in the future. Opportunity 2: Organizations can avoid crises by learning from the failures and crises of other organizations. Opportunity 3: Organizational training and planning should emphasize the preservation of previous learning in order to make organizational memory a priority. Opportunity 4: Organizations must be willing to unlearn outdated or ineffective procedures if they are to learn better crisis management strategies Bazerman, M. H. & Watkins, M. D. (2004). Predictable surprises: The disasters you should have seen coming and how to prevent them. Boston: Harvard Business School Press. Huber, G. P. (1996). Organizational learning: The contributing processes and the literatures. In M. D. Cohen & L. S. Sproull (Eds. ), Organizational learning (pp. 124-162). Thousand Oaks, CA: Sage. Mitroff, I. I. , & Anagnos, G. (2001). Managing crises before they happen: What every executive and manager needs to know about crisis management. New York: AMACOM. Mittelstaedt, R. E. (2005). Will y our next mistake be fatal?Avoiding the chain of mistakes that can destroy. Upper Saddle River, NJ: Wharton. Sitkin, S. B. (1996). Learning through failure: The strategy of small losses. In M. D. Cohen & L. S. Sproull (Eds. ), Organizational learning (pp. 541-578). Thousand Oaks, CA: Sage. Tompkins, P. K. (2005). Apollo, Challenger, Columbia: The decline of the space program. Los Angeles: Roxbury. Organizations who face these failures potentially could damage their organizational integrity. It is important for an organization to identify these failures and act on them while the company is still in operation.Having a crisis management team to prepare, respond and recover from a crisis is paramount in ensuring that the organization recovers and continues. Preparation must happen before a crisis occurs. In times of crisis, organizations need to systematically analyze its errors, acknowledge the errors and limits of the organization as well as address the issue with a level of sophistica tion. When an organization continually fails to differentiate and neglect crisis and failures it could lead to detrimental problems for the organization. Failure/ Crisis Management Case Study 1A hypothetical example would be the Deepwater Horizon oil spill (BP oil spill) that occurred in the Gulf of Mexico from 20 April 2010 to 15 July 2010. The estimated 185 million barrels of oil first made landfall in Louisiana. By June 2010, the tar balls and oil mousse had reached the shores of Mississippi, Alabama and Florida. By August, it had smeared tourist beaches, washed onto the shorelines of sleepy coastal communities, oozed into the marshy bays that fishermen have worked for generations as well as killed millions of wildlife in the process.Instead of dealing with the failure in a professional way, BP inadvertently created a PR situation synonymous with herding cats. It’s had to fight to clear up two quagmires – its oil mess and its tarnished image. (Please Refer to Append ix- New York Times, Gulf of Mexico Oil Spill) In times of crisis or failure, it is important for an organization to understand the need for a comprehensive risk analysis. Should the failure be environmentally or socially threatening, impressions demonstrations of empathy and competence are vital. BP was not prepared to successfully deal with such a catastrophe.To minimize the damage, BP should have immediately accomplished five tasks: 1. Issue regular, frequent progress reports 2. Control the pictures (even some on the Web site appeared to be canned or generic) 3. Transparency 4. Display empathy as a concerned corporate entity comprised of authentic people diligently making a good-faith effort to solve the problem Failure/ Crisis Management Case Study 2 Failure, if properly attended to and rectified is a great plus. It gives the much needed confidence to the public, client or stakeholders in the product and organization.Furthermore, with proper management, the organization will be a ble to assess its capacity to deal with the systemic and circumstantial deficiencies leading to failures and work out a way forward. A great example would be the Johnson and Johnson Tylenol poisoning crisis in 1982. When the Tylenol scare occurred, Johnson and Johnson responded immediately and positively, taking the analgesic off the shelves, keeping the public apprised of the investigation, and their instituting new tamper-proof seals to make their product more secure.An organization needs to be upfront and out front with their communication about the situation and what they are doing to correct it and protect the public. The organization has to keep the public’s best interests at heart when communicating the issue effectively, clearly, accurately, and promptly upon discovering the problem. Having a crisis management plan in place before a crisis occurs puts an organization in a solid position to handle it more effectively and responsibly. Detecting failure, analyising failu re, promoting experiementation? Deviance Inattention Lack of Ability Process Inadequacy Task Challenge Process ComplexityUncertainty Hypothesis Testing Exploratory Testing Blameworthy Praiseworthy Violating a prescribed practice or process by choice Straying away from specifications Does not possess the necessary qualifications or skills for the task Adhering to a prescribed but faulty or incomplete task Task too difficult to be executed reliably each time Process comprises of element breaks when encountering interactions Lack of clarity causes actions which seem reasonable but produces undesired results An experiment to prove and idea, fails Experiment to increase knowledge and understand possibilities leads to an unwanted result