The accounting conservatism principle - Free Essay Example

Sample details Pages: 8 Words: 2529 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? In this paper we analyze the relationship between the accounting conservatism principle and the effects of this principle in the Dutch banking sector during the economic crisis. We will focus on several financial institutions and other companies that subsequently performed well or disastrous. The main theme of our research paper is a investigation of economic consequences in the accounting science. Don’t waste time! Our writers will create an original "The accounting conservatism principle" essay for you Create order We will discuss an accounting principle and then investigate the effects that this principle has on certain economic events. The sub theme of our paper is a further investigation of the well-known and the important accounting conservatism principle. We will use the conservatism principle to make a new analysis by researching this principle and its effects on the functioning of several Dutch financial institutions during this state of negative economic dynamics. 1.2 Relevance The main focus of this paper is to further investigate a relevant and well acknowledged sub topic in the accounting science, considering the multitude of previous scientific papers and our own interests we have chosen for the accounting conservatism principle. A brief definition of this accounting principle is: A accounting guideline that understates assets and revenues and overstates liabilities and expenses. (Dictionary of Accounting Terms, 4th edition, Joel G. Spiegel, Jae K. Shim) This means that expenses should be recognized directly while revenues should be recognized when its verifiable that will be realized. The conservatism principle holds that in reporting the financial statements a more pessimistic picture (understate) than a optimistic picture (overstate) will be described, due to this principle there is less chance of users of financial information being hurt by relying on prepared financial statements. The accounting conservatism principle in of the most important pri nciples in the accounting profession and science, Basu (1997,8) states that conservatism has influenced the accounting practice for more than 500 years. Watts (2003) wrote in his paper conservatism in accounting, that there is a great scientific benefit in further researching the accounting conservatism principle. In our opinion it would be a great opportunity to further explore the effects of this important and long lasting principle in combination with the recent financial crisis. The recent financial crisis emerged in 2007 and at the moment of writing the effects and economic consequences is still visible and active in todays business world. We will briefly introduce this recent financial crisis in order to provide the necessary heuristics to the neutral reader. Due to various aspects this crisis has emerged and evolved and left its footmarks on the entire business world. We will discuss the important aspects that created the crisis and have made the crisis more sustainable th at are given by several economic experts. First of all the financial crisis came into existence in the United States in the end of 2007. The most important cause of the financial crisis are the reckless and unsustainable lending practices of several top banks in the US  [1]  . Various US top banks sold financial products with high risk to their customers, especially real estate mortgages. These mortgages where covered by securities, which had risks that were hard to estimate. A reaction to a more broad credit boom, increase in oil and food prices was a speculative bubble in real estate and equities, which served to reinforce the risky lending practices.  [2]  The emergence of high risk loan losses was the beginning of a financial crisis in 2007. In consequence of the loan losses and the fall of Lehman Brothers in September 2008 a financial panic brakes out. As result of massive declines in stock rates and real estate prices several large investment institutions and banks in both Europe and the United States came in serious financial trouble and some of them went bankrupt. This worldwide crisis has caused several economic consequences like; rapidly increasing unemployment rates, a decline of commodity prices, a fall of international trade and of the most important consequences of all is a lack of trust of public in financial institutions, banks and the public began to set question marks on management policies, strategies and ethical behaviour. The general consensus of economists is that this crisis is going to be the worst since the Great Depression of 1930 and that complete recovery of the market will be accomplished somewhere near 2010/2011  [3]  4. This global phenomenon is the basis for a lot of scientist and practitioners to investigate the causes, results, possible prevention methods and the way to structure these financial institutions in a way that such economic crisis could be prevented in the future. In our research we will focus on the ca uses of the economic crisis, we will mention some of them while others that are more significant for our research will be presented more elaborately. Some practitioners and researchers claim that these are the main causes of the financial crisis: increase of oil prices, weakened regulation activities by the government, improper and inadequate functioning of CEO of the Federal Reserve Bank Alan Greenspan and over-leveraging (credit default swaps and collaterized debt obligations). To introduce our research question, we will further investigate one of the causes namely over-leveraging because this specific cause is of importance for our research. A lot of banks and investors miscalculated the level of inherent risk in the unregulated Collateralized debt obligation and Credit Default Swap markets. In this way banks and investors were able to take advantage of low interest rates and borrow huge sums of money that they only could pay back if the housing market continued to increase in va lue.  [5]  Banks were highly dependent on future earnings such as the profits they assumed to make of the mortgages, what they didnt take into consideration is the fact that much of these mortgages carried a lot of risks and that the earnings were not verifiable and realized. So they overstated their future earnings and they massively pursued an optimistic view which led to an overstatement of their earnings. So having said this we know can see that the accounting conservatism principle was not applied by these banks. Having enriched ourselves with this information we were very interested in investigating why accounting conservatism which dominates as a solid theory for many years and is incorporated in the accounting regulations and in many scientific literature has not been applied in the banking sector. Our research question thus states; What is the reason that the accounting conservatism principle didnt succeed in the Dutch banking sector? This research paper will b e especially of importance and value for practionners, financial analysts, accounting students and other generally interested readers. Practioners and scientists like Basu, Watts, Dietrich, Riedl, Mcleay and Raonic did an investigation in the relationship between accounting conservatism and for instance stock returns, but they do not investigate the relationship between accounting conservatism and the effects on the financial sector during a recession. Our research is unique because it is the first research of the accounting principle and the effects and relation on the Dutch banking sector during the recent (2007-2010/11) financial crisis. To measure the effects of accounting conservatism in relation with the performance of the Dutch banks during the recession. Literature review In this part of the paper we are going to study and present several scientific papers of well-acknowledged practitioners. We will define the accounting conservatism principle and we will view this principle from the point of view of different scholars and further more we will discuss the importance of the accounting conservatism principle and its effects on different business ratios. Accounting Conservatism Conservatism is defined as the differential verifiability required to recognize profits versus losses. (Watts,2003) Watts stated that conservatism is the asymmetrical verification requirement for gains and losses. It means there is a difference in verification requirements for recognizing gains and losses. The asymmetrical verification interpretation is incorporated in the definition of Watts as differential verifiability. Conservatism also has an extreme form this form is also referred to as the traditional conservatism adage: anticipate no profit, but anticipate all losses (Bliss, 1924) This means that a company should not recognize profits before there is a legal claim to the revenues generating them and that the revenues are verifiable. All losses should be recognized by the company even when they arent completely verifiable. Basu interpreted the conservatism adage as: the accountants tendency to require a higher degree of verification to recognize good news as gains than to recognize bad news as losses. He deducted this interpretation from several accounting concepts, procedures and principles. For instance, the Statement of Financial Accounting Concepts ( SFAC) No.2 (FASB, 1980) paragraph 95 states: if two estimates of amounts to be received or paid in the future are about equally likely, conservatism dictates using the less optimistic estimate. He also mentioned some conservatism examples in the Accounting Research Board(ARB). ARB 45 states: a company should immediately recognize changes in cost estimates if they result in future expected losses on long-term contracts, but not if they result in increased future profits. Thus conservatism results in a greater probability of timely accounting recognition of bad news than for good news. (Basu, 1997) An alternative definition of accounting conservatism is of Belkaoui (1985). He claims that conservatism implies that preferably the lowest values of assets and revenues and the highest values of liabilit ies and expenses should be reported More broadly this means that accountants prefer accounting methods that lead to lower reported values for shareholders. To explain the roots of the accounting conservatism principle we will discuss the historical developments, theories and explanations of conservatism. The influence of conservatism on the accounting practice has been for centuries. Basu argued that this principle significantly influenced the accounting practice for at least 500 years.(Basu,1997) Historical records from trading deals in the 15th century show that accounting in medieval Europe waws In our opinion the traditional accounting conservatism adage is not suitable for our research, in todays economic environment it would to extreme to think that one managing a company could apply this traditional principle. The first definition of Watts is the most suitable for our research because it is the broadest, simple and it captures in a glance the fundamentals of the acco unting conservatism principle. Literature table: Paper Title Author Object of study Sample(size, country, period) Methodology Conclusion 1 Conservatism in Accounting Part I: Explanations and Implications Ross L. Watts Examination of alternative explanations for conservatism in accounting and their implications for accounting regulators. This paper is based on existing literature(literature study), thus there is no test information included, September 2003 This paper studies conservatism in accounting and is divided in two parts. The first Part discusses explanations for conservatism and draws implications for regulation and standard setting. The paper draws a general contracting explanation for conservatism and predicts that other contracts employed within the firm, will also generate conservatism. It offers also a new argument: that an information perspective produces conservatism once the information costs of changed managerial behavior are introduced even without contracting considerations. The main conclusion of this paper is that conservatism is essential. Managers will bias and noise value estimates, because there is a lack of verifiability, managers have limited tenures and limited liabilitys. If regulators want to improve financial reporting, they must recognize the importance of verification, problems that conservatisms asymmetric requirement evolved to address and regulators should concentrate on the accountings core competence. 2 Conservatism in Accounting Part II: Evidence and Research Opportunities Ross L. Watts Summary of the empirical evidence on conservatism, its consistency with alternative explanations, and opportunities for future research. This paper is based on existing literature(literature study), thus there is no test information included, September 2003 This is Part II of the literature study of conservatism in accounting. This part summarizes the empirical evidence on the existence of conservatism. Ross L. Watts elaborates se veral measurements for conservatism, draws evidences on alternative conservatism explanations and on non-conservatism explanations. Further this article discusses some research opportunities. In this paper the writer concludes that existing evidence for accounting conservatism is most consistent with the contracting and litigation explanations. Further the writer concludes there is a reason to believe that the four explanations for conservatism (contracting, litigation, tax and regulation) are not independent. Also conservatism is driven by a concern with overpayment by contracting parties, courts and government and this principle will not exclude earnings management or abandonment options. 3 The conservatism principle and the asymmetric timeliness of earnings Sudipta Basu Re-examination of the conservatism principle. Investigation of the effects of the conservatism principle on reported financial statements. The samples implemented for the test in this paper consi st of all firm-year observations from 1963 -1990 with returns data on the center for research in security prices NYSE/AMEX monthly files, and with necessary accounting data on the compustat annual industrial and research files. (United States). The paper extends research on the timeliness of earnings by pointing out that the timelines is asymmetrically greater for bad news than for goods news. S. Basu states that in efficient markets, stock returns symmetrically and quickly reflect all publicly available news, so he uses returns to measure news. The research of the conservatism principle is based on four predictions. For the first prediction: earnings is more timely or concurrently sensitive in reflecting publicly available bad news than good news the researcher used negative and positive unexpected annual stock returns to proxy for bad news and good news. For the other three predictions S.Basu used empirical tests. S. Basu investigated the effects of the conservatism principl e on reported financial statements and interprets conservatism as resulting in earnings reflecting bad news more quickly than good news. He indicated that the concurrent sensitivity of earnings to negative returns is two to six times as large as the concurrent sensitivity of earnings to positive returns and he also showed that positive earnings changes tend to persist whereas negative earnings changes show a marked tendency to reverse. The conclusion of this paper is that earnings are timelier in reporting publicly available bad news about future cash flows than good news. 4 Discussion of Conditional and Unconditional Conservatism: Concepts and Modeling Sudipta Basu Algebraically model, simulate and graph the effects of various factors on the nonlinear earnings-return relation induced by conditional conservatism. 2005 5 The Timeliness of Income Recognition by European Companies: An analysis of Institutional and Market Complexity Ivana Raonic, Stuart McLeay, I oannis Asimakopoulos Analyze of the asymmetric timeliness of income recognition of good and bad news in the earnings of 366 European firms between 1987 and 1999 2004 6 Discussion of The Timeliness of Income Recognition by European Companies: An analysis of Institutional and Market Complexity Bill Rees 2004 7 Asymmetric timeliness of accounting conservatism J. R. Dietrich, K. A. Muller III, E. J. Riedl Research on the relationship between earnings and stock returns to examine whether bad news is incorporated into earnings on a more timely basis than good news. 2007 8 International Differences in the Timeliness, Conservatism, and Classification of Earnings Peter F. Pope , Martin Walker ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€š Analyze of the differences in the timeliness of income recognition between the U.S. and U.K. GAAP financial reporting regimes 1999 9 Econometrics of the Basu Asymmteric Timeliness Coefficient and The Accounting Conservati sm. (Working Paper) Ray Ball, S. P. Kothari, Valeri Nikolaev Analysis of the econometrics of the Basu asymmetric timeliness coefficient. The analysis addresses the conceptual and econometric challenges to the measure raised in the recent literature. First Draft : May 2006, Current version April 2009

Life, Liberty, And The Pursuit Of Happiness - 902 Words

As a citizen of the United States, you are entitled to life, liberty, and the pursuit of happiness. This is a VIRTUE that everyone embarks on; however, what if you were told you were doing it wrong? Aristotle begins his STORY stating that â€Å"EVERY art and every inquiry, and similarly every action and pursuit, is thought to aim at some good; and for this reason the good has rightly been declared to be that at which all things aim.† He goes on to say then, because these ends at which we aim are only subordinate goods, there must be a supreme form of good in which these subordinate ones lead us, which is the highest end. Everyone could agree that happiness is this â€Å"final end† we reach for; however, people fail to understand the true meaning of happiness, consequently, never truly achieving it. With this being an issue and also holding great importance to Aristotle, he wrote a whole book about it: Nicomachean Ethics. 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Essay on Leadership Model

Question: Write about the Essay on Leadership Model. Answer: Introduction A leader is a mentor with vision, who thrives on challenges. He is a person who holds and guides the organization and its members with their competence. He should have an inspiring imagination and clear goals. He should be creative and should also recognize the inputs from his team mates. The most essential quality that a leader must have is ability to encourage and motivate. He must inspirit his team mates to strive harder to achieve organizational goals along with personal goals. It is not that these mere qualities make somebody a good leader but Leadership is an art of leading others to deliberately create a result that wouldnt have happened otherwise. Effective leadership is to lead other by examples and by collaborating; a leader should also be a good follower. A leadership model represents the desired qualities of a leader, it predict the outcomes of leadership. There is no single formula that could produce effective leadership because what might be useful and apt in one situation might not be useful in another (Shriberg and Shriberg, 2011). Leadership has a mutli-dimensional approach to situations. Effective leadership requires great understanding of human behaviour, because a leader has to deal with people from different backgrounds, sexuality, religion and lifestyle (Goleman, 2011). A leader has to be a good follower in order to lead others (Shriberg and Shriberg, 2011). Effective leader values opinion of the other people and in order to arrive at a decision he should be able to follow the opinion of other people. A true leader is always ethical in nature; he values the truth and knows the ethical implications on the decision making. Most importantly, every leader has a different style of leading people but what is considered essential is the ability to collaborate with people (Shriberg and Shriberg, 2011). The leadership model developed in this case which is presented ahead is named as Representative leadership model. A leadership model runs on ample of ideas but the main ideas of the Representative leadership model developed are, Ethics- a leader in this model has to be ethical. He needs to preach and practice high standards of ethics in his leadership style (Shriberg and Shriberg, 2011).. He should value the truth and that should be reflected in the decisions taken by him. He should not be biased towards any team mate. The next idea is Multiculturalism, which means that the leader should be able to lead people of diverse cultures, sexuality, and background with ease (Shriberg and Shriberg, 2011).. A multicultural leader would be able to achieve sustainable global competitive advantage for the organization (Shriberg and Shriberg, 2011). Next and the most important aspect of this leadership model is Power. A leader must be able to handle his power with great responsibility. Delegation of work and responsibility and the best use of the power is what determine the success of the organization. He mus t not only use his power to get efficient results but must also build human relations. Teamwork is the key of any leadership model. If a leader is not a team player, the organization would find it difficult to achieve full potential of the employees. A leader has to think for the team and the organization as a whole, he must not strive for personal glory but for the betterment of the organization (Shriberg and Shriberg, 2011). A leader must have his own philosophy on how to lead people. His personal beliefs, values and principles form an important aspect in his leadership style. His belief in human nature and fundamentals on relationship is important for the growth of the organization. There are several important traits of an effective leader such as representing the entire organization, aligning personal goals with organizational goals, being a support system, guide and a friend of the team mates (Johansen, 2012). An effective leader promotes two way communications and values the inputs from his team mates. He has a vision and clear goals. He plans strategically and critically analyses the situation. The most important trait of an effective leader is emotional intelligence (Bradberry, Greaves, 2009). The core value of the Representative leadership model designed are Emotional intelligence that equips the leader to understand and effectively deal with the emotions of his team mates. Another value is that the leader is ethical and a team player. He leads his followers by examples and isnt ashamed to learn something from them. Another core vale includes innovation and strategic planning. A leader as per this model should be a problem solver and highly motivated perso nnel who encourages his team mates to strive for better results. The aim of representative leadership model is to create such leadership patterns that it generates better results and increases the efficiency of the organization. It also aims to create a guideline that will help a leader of any organization to adapt few traits in his leadership style. The model suggests that the leader should be emotionally equipped which will help him in dealing with people from diverse backgrounds and it will also help him in building better relations with his team. Emotional intelligence will allow the leader to empathise with his team mates and that will create a good bond between them. Like any other leadership model, this model also aims to increase organizational efficiency at wholesome level. It also aims to create a better working environment for the people along with sustainable growth. The model also aims at promoting inclusion, innovation, and integrity in an organization. When an organization undertakes the representative leadership model, it will help them in achieving better results. The efficiency and effectiveness of an organization increases when it follows inclusion, innovation and integrity. The employees feel a part of the organization when they have a say in the decision making process and are treated with respect and equality, and this in turn increases employee retention and satisfaction level. A leader when equipped with emotional intelligence and intelligence quotient tends to make better decisions than the leader who is not emotionally equipped. The overall aim of any organization is to achieve sustainable growth. This model will help them in better decision making, strategic planning, and dealing effectively with people, all of which are important components to achieve sustainable growth. When a leader is self aware, he also becomes aware of the organizational strength and weakness, this will help him in making better decisions and to g rasp the potential opportunities and eliminate or reduce the impact of risk, this will help the organization to be more effective. The Representative model of leadership is not very dissimilar with the Team Leader model of leadership. In the team leader model, a leader has both concern for people and concern for results. The leader is strong on people and is also strong on tasks. Similarly in the representative model suggests that the leader leads by examples and maintains a positive outlook. He is a team player and encourages his team mates to achieve better results by using their full potential. He strengthens the bond of his team mates with the organization. He plans strategically, thinks critically and also is emotionally equipped to understand human behaviour of diverse backgrounds and cultures. This leadership model is similar to team leader because both the models respect the diversity, values opinions and inclusion, gives importance to ethical behaviour and believes that a leader is a goal seeker and should lead people effectively to achieve better results. Representative model could be applied personally as well as professionally to any individual or organization. The values of this model would enable a leader to adapt a few traits in his leadership style. It will enable a leader to lead the organization, lead others as well as in leading himself (Kesler and Kates, 2010). This model has improved my leadership skills; it had equipped me emotionally and has given me an insight as to why it is important for a leader to be emotionally intelligent while making decisions. It has provided me with better understanding of human behaviour. It will also benefit others around me in understanding the human psychology and behaviour. This will create a positive impact and would make the overall environment positive. This model would also enable a leader to improve the efficiency of himself and those around him, leading to overall increment in the efficiency. Effective leadership is an integral aspect when it comes to the organizational effectiveness and growth. A leader has to have few essential skills and traits to lead the organization effectively (Janet, 2006). The leadership model developed in this case is representative model which is very similar to team leader model of leadership. Leaders, who follow either of the two models, have concern for people along with concern for results. The representative model aims to strengthen employee retention and satisfaction level which will also lead to increment in efficiency of the organization as a whole. It also aims at sustainable growth of the organization. The core values of this model are integrity, inclusion and innovation. This model could be applied to an individual personally as well as professionally. If a person has traits of this model and values that this models works on then that person could be an effective leader and could lead himself, the people around him and an organizatio n on the path of success. References Bradberry, T. and Greaves J. (2009). Emotional Intelligence 2.0 [Online]. US:TalentSmart. Available at: URL https://books.google.co.in/books?id=JAP8B7R67K0Cdq=emotional+intelligence++self+awarenesssource=gbs_navlinks_s [Accessed 26 September 2016]. Goleman, D. (2011). Leadership: The Power of Emotional Intelligence [Online]. US: More than Sound. Available at: URL https://books.google.co.in/books?id=j694twAACAAJdq=emotional+intelligence+leadershiphl=ensa=Xved=0ahUKEwipzrnK65XPAhWMuY8KHU3uB38Q6AEIKjAB [Accessed 26 September 2016]. Janet. (2006). Effective Leadership And Management In The Early Years. [Online]. UK: McGraw-Hill Education. Available at: URL https://books.google.co.in/books?id=po8w991YH7oCprintsec=frontcover#v=onepageqf=false [Accessed 26 September 2016]. Johansen, R. Leaders Make the Future: Ten New Leadership Skills for an Uncertain World Bk Business. [Online]. US: Berrett-Koehler Publishers. Available at: URL https://books.google.co.in/books?id=LlxylEqqrdwCprintsec=frontcover#v=onepageqf=false [Accessed 26 September 2016]. Kesler, G. and Kates, A. (2010). Leading Organization Design: How to Make Organization Design Decisions to Drive the Results You Want. [Online]. US: John Wiley Sons. Available at: URL https://books.google.co.in/books?id=Kcms9azeirgCprintsec=frontcover#v=onepageqf=false [Accessed 26 September 2016]. Shriberg, D. and Shriberg A. (2011). Practicing Leadership Principles and Applications. US: John Wiley Sons, Inc., p3. Shriberg, D. and Shriberg A. (2011). Practicing Leadership Principles and Applications. US: John Wiley Sons, Inc., p5. Shriberg, D. and Shriberg A. (2011). Practicing Leadership Principles and Applications. US: John Wiley Sons, Inc., p6. Shriberg, D. and Shriberg A. (2011). Practicing Leadership Principles and Applications. US: John Wiley Sons, Inc., p6. Shriberg, D. and Shriberg A. (2011). Practicing Leadership Principles and Applications. US: John Wiley Sons, Inc., p7. Shriberg, D. and Shriberg A. (2011). Practicing Leadership Principles and Applications. US: John Wiley Sons, Inc., p8. Shriberg, D. and Shriberg A. (2011). Practicing Leadership Principles and Applications. US: John Wiley Sons, Inc., p5.

King Lear, By William Shakespeare, Is A Tragic Tale Of Filial Conflict

King Lear, by William Shakespeare, is a tragic tale of filial conflict, personal transformation, and loss. The story revolves around the King who foolishly alienates his only truly devoted daughter and realizes too late the true nature of his other two daughters. A major subplot involves the illegitimate son of Gloucester, Edmund, who plans to discredit his brother Edgar and betray his father. With these and other major characters in the play, Shakespeare clearly asserts that human nature is either entirely good, or entirely evil. Some characters experience a transformative phase, where by some trial or ordeal their nature is profoundly changed. We shall examine Shakespeare's stand on human nature in King Lear by looking at specific characters in the play: Cordelia who is wholly good, Edmund who is wholly evil, and Lear whose nature is transformed by the realization of his folly and his descent into madness. The play begins with Lear, an old king ready for retirement, preparing to divide the kingdom among his three daughters. Lear has his daughters compete for their inheritance by judging who can proclaim their love for him in the grandest possible fashion. Cordelia finds that she is unable to show her love with mere words: "Cordelia. [Aside] What shall Cordelia speak? Love, and be silent." Act I, scene i, lines 63-64. Cordelia's nature is such that she is unable to engage in even so forgivable a deception as to satisfy an old king's vanity and pride, as we see again in the following quotation: "Cordelia. [Aside] Then poor cordelia! And not so, since I am sure my love's More ponderous than my tongue." Act I, Scene i, lines 78-80. Cordelia clearly loves her father, and yet realizes that her honesty will not please him. Her nature is too good to allow even the slightest deviation from her morals. An impressive speech similar to her sisters' would have prevented much tragedy, but Shakespeare has crafted Cordelia such that she could never consider such an act. Later in the play Cordelia, now banished for her honesty, still loves her father and displays great compassion and grief for him as we see in the following: "Cordelia. O my dear father, restoration hang Thy medicine on my lips, and let this kiss Repair those violent harms that my two sisters Have in reverence made." Act IV, Scene vii, lines 26-29. Cordelia could be expected to display bitterness or even satisfaction at her father's plight, which was his own doing. However, she still loves him, and does not fault him for the injustice he did her. Clearly, Shakespeare has crafted Cordelia as a character whose nature is entirely good, unblemished by any trace of evil throughout the entire play. As an example of one of the wholly evil characters in the play, we shall turn to the subplot of Edmund's betrayal of his father and brother. Edmund has devised a scheme to discredit his brother Edgar in the eyes of their father Gloucester. Edmund is fully aware of his evil nature, and revels in it as seen in the following quotation: "Edmund. This is the excellent foppery of the world, that when we are sick in fortune, often the surfeits of our own behaviour, we make guilty of our disasters the sun, the moon, and stars; as if we were villains on necessity; fools by heavenly compulsion; knaves, thieves, and treachers by spherical predominance; drunkards, liars, and adulterers by an enforced obedience of planetary influence; and all that we are evil in, by a divine thrusting on. ... I should have been that I am, had the maidenliest star in the firmament twinkled on my bastardizing." Act I, scene ii, lines 127-137, 143-145. Clearly, Edmund recognizes his own evil nature and decides to use it to his advantage. He mocks the notion of any kind of supernatural or divine influence over one's destiny. Edgar must go into hiding because of Edmund's deception, and later Edmund betrays Gloucester himself, naming him a traitor which results in Gloucester's eyes being put out. Edmund feels not the slightest remorse for any of his actions. Later on, after the invading French army has been repelled, Lear and Cordelia have been taken captive and Edmund gives these chilling words to his captain: "Edmund. Come hither captain; hark. Take thou this note: go follow them to prison; One step I have advanced thee; if thou dost As this instructs

The Changing Organizational Landscape of Business Communications in the Age of Information Technology essays

The Changing Organizational Landscape of Business Communications in the Age of Information Technology essays One of the most vital factors that influence an improving and dynamically developing organizational system in the business sector is business communications. The emergence of business communication as an essential factor in improving and organizing the activities of people everyday resulted to the integration of communication as an element that must be considered in promoting effective organizational management. More importantly, business communications via the Internet (technological) media are considered the most flexible and effective forms of communication, making it easier for organizations to communicate and constantly interact with its members. Information dissemination and exchange among and within organizations also improves with the proliferation of e-mailing and Thus, the growing community of Internet technology users especially in the business sector increases the usefulness and value of technology communications at present. However, dysfunctions within the cyberspace culture proliferate, such as the spreading of viruses that either annoys the user or seriously damages the performance of computer systems. Jennifer Barrett, in a special report from Newsweek, addresses the issue of cyber security' in the growing community/organization that is called, "cyberspace." Recognition for cyberspace as an important organization that must have its own sets of rules, norms, members/users, and artifactsthat is, cyberspace culture, security measures to assure that users of computer technology are not prevented from performing everyday activities due to system errors and dysfunctions caused by viruses and other computer glitches. This is manifested in the establishment of the National Cyber Security Division of the government's Department of Homeland Security, spearheading the program called, "National Cyber Alert System," which ...

ABBOTT Surname Meaning and Origin

ABBOTT Surname Meaning and Origin The Abbott surname means abbot or priest, from the Old English abbod or Old French abet, which in turn derive from the Late Latin or Greek abbas, from the Aramaic abba, meaning father. Abbott generally originated as an occupational name for the chief ruler or priest of an abbey, or for someone employed in the household or on the grounds of an abbot (since celibate clergy usually didnt have descendants to carry on the family name). According to a Dictionary of American Family Names it may also have been a nickname bestowed on a sanctimonious person thought to resemble an abbot. The Abbott surname is also common in Scotland, where it may be of English origin, or possibly a translation of MacNab, from the Gaelic Mac an Abbadh, meaning son of the abbott. Surname Origin: English, Scottish Alternate Surname Spellings:  ABBOT, ABBE, ABBIE, ABBOTTS, ABBETT, ABBET, ABIT, ABBIT, ABOTT Where in the World is the ABBOTT Surname Found? The Abbott surname is now most commonly found in Canada, especially in the province of Ontario,   according to WorldNames PublicProfiler. Within the United Kingdom, the name is most common in East Anglia. The name is also fairly common in the U.S. state of Maine.  Forebears surname distribution data places the Abbott surname with the greatest frequency in the former British Caribbean colonies, such as Antigua and Burbuda, where it is the 51st most common last name. It is next most commonly found in England, followed by Australia, Wales, New Zealand and Canada. Famous People with the Last Name ABBOTT Berenice Abbott - American photographer and sculptorGrace Abbott - American social worker best known for her work improving rights of immigrants and advancing child welfareEdith Abbott - American social work pioneer; sister of Grace AbbottSir John Abbott - former prime minister of CanadaJeremy Abbott - U.S. national figure skating championGeorge Abbott - American director, producer and playwrightBud Abbott -  comedian best known for playing the straight man of Abbott and Costello   Genealogy Resources for the Surname ABBOTT Abbott DNA ProjectIndividuals with the Abbott surname or any of its variations are invited to join this Y-DNA surname project of Abbott researchers working to combine traditional family history research with DNA testing to determine common ancestors. The Abbott Family GenealogyThis site compiled and written by Ernest James Abbott collects information on primarily Americans with the Abbott surname, and includes sections on authors, occupations, famous descendants, courses, and Abbotts in the military and ministry. Abbott Family Genealogy ForumSearch this popular genealogy forum for the Abbott surname to find others who might be researching your ancestors, or post your own Abbott query. FamilySearch - ABBOTT GenealogyExplore over 1.7 million historical records and lineage-linked family trees posted for the Abbott surname and its variations on the free FamilySearch website, hosted by the Church of Jesus Christ of Latter-day Saints. ABBOTT Surname Family Mailing ListsRootsWeb hosts a free mailing list for researchers of the Abbott surname around the world. DistantCousin.com - ABBOTT Genealogy Family HistoryExplore free databases and genealogy links for the last name Abbott. The Abbott Genealogy and Family Tree PageBrowse genealogy records and links to genealogical and historical records for individuals with the common Abbott last name from the website of Genealogy Today. Looking for the meaning of a given name? Check out First Name Meanings Cant find your last name listed? Suggest a surname to be added to the Glossary of Surname Meanings Origins. - References: Surname Meanings Origins Cottle, Basil. Penguin Dictionary of Surnames. Baltimore, MD: Penguin Books, 1967. Menk, Lars. A Dictionary of German Jewish Surnames. Avotaynu, 2005. Beider, Alexander. A Dictionary of Jewish Surnames from Galicia. Avotaynu, 2004. Hanks, Patrick and Flavia Hodges. A Dictionary of Surnames. Oxford University Press, 1989. Hanks, Patrick. Dictionary of American Family Names. Oxford University Press, 2003. Smith, Elsdon C. American Surnames. Genealogical Publishing Company, 1997. Back to Glossary of Surname Meanings Origins

English literature Essay Example | Topics and Well Written Essays - 1500 words - 2

English literature - Essay Example both Oedipus from Oedipus the King by Sophocles and the character’s daughter Antigone from Antigone by Jean Anouilh are each protagonists driven by the passion of pride and how this largely contributes to their own downfall. The opening actions of both tragedies illustrate this pride. In Oedipus the King, Oedipus is approached by plague-stricken masses asking help from him. When he sees his people gathered around him like a god, his response to them is â€Å"What means this reek of incense everywhere, / From others, and am hither come, myself, / I Oedipus, your world-renowned king†1. Although the people of Oedipus’ day did turn to their kings to cure all societal ills, Oedipus here is taking on the persona of a god. His pride in his role is evident in the words he speaks. His last line, referring to himself as the â€Å"world-renowned king† helps to underscore that streak of pride. It is also obvious, with a touch of foreshadowing, that he is not secure in his position by his tendency to repeat his greatness. Personal experience has shown when people insist on being known by their title, they are not overly secure about its authority. Antigone, on the other hand, enters the scene in a rage after learning that the new king, Creon, has forbidden to allow one of her brothers to be buried. She decides to go against the king’s orders, arguing that burying the dead is the right thing to do. Her pride in family makes it impossible for her to drop the issue. It is clear she’s outraged that the king would tell her what to do when she is talking to her sister at the very beginning of the play: â€Å"That’s what people say the noble Creon / has announced to you and me – I mean to me†2 . The repetition of â€Å"I mean to me† indicates she cannot believe someone else would tell her what to do, showing excessive pride in her own judgment. As her sister reminds her, women do not have any power in their culture, but Antigone does not listen. In the end, it

Individual Assignment of consumer research Essay

Individual Assignment of consumer research - Essay Example Marketing research, if not well done, can lead to huge loses in profits and loss of public trust on a particular product or company. Marketing researchers are constantly surveying people about their likes and dislikes, their voting intentions, their thoughts about advertisements, and consumer feelings towards brands. Advertising, as a means of awareness, is not equivalent to a measure of a brand’s strength, value or equity. The fundamental question that should be asked is; what can marketing communicators do to enhance the equity of their brands so as to affect the behavior of their present and prospective customers? Or how can marketing communicators justify their investments in advertising, sales promotion and other common elements and demonstrate financial stability? (Shimp, 2008). One of the ways in which marketing communications would represent corporate identity is its awareness. Brand awareness is an issue of whether a brand name comes to mind when consumers think about a particular product category and the ease with which the name is evoked. Consumers have to be aware of the brand for it to represent the corporate identity. Achieving brand awareness is the initial challenge for new brands while maintaining high levels of brand awareness is the task faced by all established brands. The second dimension is the brand image portrayed in the adverts. Brand image represents the associations that are activated in the memory when people think a particular brand. The associations can be conceptualized in terms of brand strength, type, favorability and uniqueness. Although advertising of the brands is based on a variety of associations that consumers have developed over time, brands just like people can be thought of as having their unique personalities. Corporate communication is aimed at influencing people’s perception about the company. To perform this duty, the management is willing to report good news but reluctant to disclose bad

Orenthal James Simpson Essay Example for Free

Orenthal James Simpson Essay The well publicized trial of O. J. Simpson for the double homicide of his ex-wife and her friend focused national attention on the decision-making process of jurors. Because the defendant in the case, which was based primarily on circumstantial evidence, was a black celebrity and the victims were white, much media commentary focused on the influence of racial factors. The defense strategy for O. J. Simpson increased concern about race; central to the defense was a theory that Simpson was framed in a conspiracy by the Los Angeles Police Department due to racial prejudice against the defendant. As the nation watched the proceedings of the trial, questions arose as to whether the jury would be influenced by racial factors when reaching a verdict. The political means for reaching that end differ. On the side are those who align themselves with conservatives and believe that the multiracial needs to focus on removing the concept of race either through the introduction of multiracial category or by advocating for color-blind agendas; on the other side are those who align themselves with liberals and believe that multiracial people should be protected group. It is perfect, as the prosecutors in this case tell us, but coupled with the testimony of a witness; both types of evidence are bolstered. In this case as well the best scientific evidence, including DNA identification, can be nullified by the specter of tainted samples or sloppy handling procedures. This is almost certainly in large part a result of the prevalence in our society of institutionalized racism, in which discrimination on the grounds of racial differences is so deeply enshrined into the systems within which we live that even those who are fair-minded and just somehow become separated from their own personal beliefs and instead get drawn into processes. The struggle over whose account of events would be believed by the jury formed the basis of the trial. Since O. J. ’s trial arose as an accusation of murder, his defense could either a denial of guilt altogether or an excuse or a justification. Low profile criminal cases experience an echo or ripple effect set off by those criminal trials that are represented extensively in the media. While it has been generally recognized that in high profile trials, publicity both before and during the trial, has direct and indirect effects on the actions of attorneys, witnesses, judges, jurors, and the viewing audiences, it is also true that high-profile criminal trials may have an even greater impact on the formal and informal operations of the everyday practices of law enforcement and adjudication, affecting the outcomes of tens of thousands of low-profile criminal cases. But the defense chose the first option. While presenting few details of O. J. ’s actions on the evening in question, the defense focused on every procedural miscue by LAPD investigators to create their counter-story that a racist police department framed the defendant. The prosecution sought to prove O. J. guilt beyond a reasonable doubt,† but spent an extraordinary amount of time countering the combined racist cops/inept lab technicians defense. Since O. J. never testified the DA did not have to directly counter any excused or justifications O.  J. might have offered for any of the acts said to be related to the crime. While prior research supports the influence of juror-defendant racial similarity on verdicts, there appear to be no empirical studies examining this variable with minority defendants of high socioeconomics status. Traditionally most of the publicity associated with trials is not viewed as pretrial publicity. Pretrial publicity commonly refers to the publicity that surrounds high profile criminal defendants and their ability to get a fair trial. It is also true, notwithstanding, that low-profile or non-publicized criminal defendants, who are involved more typically in plea-bargaining and less typically in jury trials, are indirectly affected by high-profile or media-covered criminal trials. Claims of racial discrimination have echoed in our courtrooms for decades; however, black defendants have not typically received the publicity that O. J. Simpson did. But O. J. Simpson was not a typical black defendant; not only was he a popular celebrity, he was also very wealthy. The question then became whether Simpson would be treated the same way other black defendants are treated. In June of 1994, Nicole Brown ex-wife of and Ronald Goldman a waiter who has her friend. â€Å"A veteran Los Angeles homicide policeman, one of the first officers to arrive at Nicole Brown Simpson’s townhouse at 875 South Bundy Avenue they called it the bloodiest crime scene they ever seen. † (Walton, 2006)The bodies of the two victims were found shortly before midnight lying in pools of blood on the Spanish-style walkway leading to the $700,000 townhouse. The thirty-five-year-old ex-wife’s throat was slashed through to the spinal cord, leaving a five-and-a-half-inch gash from the left side of her neck to the right ear. The issues on determination of sentence would be mostly likely to conduct; disagreements adjacent to the undetermined sentence have been many and wide-ranging. Besides the criticism of ineffectiveness, they have deal with two parts of apparent vital flaws. Sentencing judgment has been extensively burdened as subjective, impulsive and leading to unprovoked discrepancy. The apprehensively felt by the offender has been thought to be unreasonable; on the other hand the effective disagreement that such vagueness is counterproductive to rehabilitative intends also has been made. These allegations, joint with to countless, and current legislation in an amount of states as well as the national authority has stimulated in direction of larger determinacy. Current studies advocate that, under legislatively set determinate sentencing, revisions are almost unremitting, typically in an increasing trend, with little consideration to the impact of revisions or corrections or even the crime rate. This is very good corroborative evidence, the scientific analysis of fingerprints, DNA, ballistic or documents can have a real impact on a jury. This type of evidence is objective and persuasive as opposed to the subjective and often unpersuasive testimony of the informant. Officer looks for opportunities to bring this type of dispassionate and objective evidence into the courtroom in support of building the witness foundation of procedural and methodological soundness. The defense technique was applied to perfection in the O. J. Simpson case. Defense counsel Johnny Cochran masterfully attacked the investigators and their process. Regardless of what you think of Cochran or his client, the defense team brilliantly destroyed the prosecution case. So powerful was their offensive that 12 jurors were eventually convinced not only did the glove not fit but that the entire investigative process was criminally defective, and they shamelessly acquitted the defendant. It is best to eliminate such concerns preemptively and forestall any attempts by the opposition to discredit the evidence. A rigorous, complete chain of custody paper trail and careful, no-nonsense procedures in sampling, transporting, storing and analyzing the evidence will be a valuable insurance policy in favor of success at trial. But these issues did emerge in the opening and closing arguments and when interruption of evidence was discussed on the witness stand by experts or eyewitnesses. Ultimately each alleged aspect of the killing, including the events said to lead up to it, were subject to account offering and account refuting. As can be observed elsewhere in our legal system, concerned defendants and wrongdoers attack the investigators and the investigative process when the facts are not in their favor. If the accused is able to attack hard enough and long enough, somebody may eventually believe them. The responses on the subject to the same kind of analysis as offerings of excuses or justifications for O. J. for the cops, for the coroner’s office, for the defense attorneys for the prosecution, for the judge, for the jury. â€Å"Individuals defended or attacked O.  J. ’s credibility, debated whether LAPD detectives were smart enough to carry out a conspiracy to frame O. J. , whether the judge was biased, whether the defense played the race card whether Nicole was partially responsible for her demise. â€Å" (Gallup Newport, 2006) Notions of equality racism and anti-racism tend to appear in constructionist work, not as objects for scrutiny or as explicitly strategic essences, but as taken-for-granted foundations, providing common-sense moral and political coherence and direction. The spectacle of O. J. Simpson legal procedure showed how a literature practice ended up convoluting justice. In fact literate law is not meant to serve justice. Its purpose is to use the law to acquit a client. A micro-level phenomenon such as prejudice is a historical concept but it can be incorporated into a historic framework. In such a framework, prejudice and racist ideology can be explained in terms of the structure of inequality in the base of society, which gives rise to both of them. Wrapping up the trial proceedings provides another opportunity to review the case, the defense team argued for jury nullification and send message about racism. Which lead to dialogue about how cultural experiences shape the way people view life. Though in Simpson case, the outcome gives a lot of views and human behavior vary so much across situation with any gratis that is provided by the government, that is why proper assessment in such referral must undertake to provide the students and their parents the explanation of the evaluation for them to understand the process of acquiring the service. Law enforcement investigative methods are perhaps more closely scrutinized now than in decades past. The significant of case investigators, as they build the work performed during a different period and perhaps a different level of expectation and subsequently develop it to meet its standards. Evidence identification and collection practices have a directly effect in their ability to conduct and resolve any case investigations. The impact of the crime can be ruthless and atrocious. The victims of rape endure weeks of physical pain and years of psychological agony. Businesses suffer massive dollar losses and some go bankrupt due to employee theft and Shoplifting Victims of break-ins spend sleepless nights wondering if the same burglar might return again. Citizens everywhere hear stories about crimes that happen to their friends, relatives, and neighbors; television and newspapers daily thrust the pain of crime’s victims into our lives. The impacts of crime are real, but surprisingly some costs are difficult to measure and where measurable, often are not well documented. The result is a public picture of crime’s costs that is as much myth and exaggeration as fact and truth. Yet it is from the society’s point of view, no matter how accurate or inaccurate, that much of public policy and governmental effort to combat crime is based. This social impact is more or less vulnerable since their position in the society. People who have least power socially suffer most from crime. Most relevant here are the social relationship of age, class, gender and race. When analyzed in focusing on the combination of these fundamental social relationships, allows us to note the extraordinary differences between social groups as to both the impact of crime and the focus of policing. Crime scenario has no room for differing sensibilities to the impoliteness which they describe or the differing power of different communities to deal with such things and resists the downward slide. Arguments are to take into account the social impact of crime; it is on the poorest and least resourced neighborhoods that they should focus their attention. Economic impact of crime in the society is also annoying, the cost of crime are simply part of the overhead of running a modern society. A certain amount of costs is unavoidable; since the society spends just enough so that, in a social optimum, the marginal money spent for crime control equals the marginal revenue from reduced crime. Calculating the burden of crime could be an ideal state in which there is no occurrence of criminal behavior defined by existing law. Economic costs of crime arise when crime causes society to divert time, energy and resources from more productive resources. Cost of crime does not only include property losses, medical costs and pay losses due to injury. They also include costs of public and private efforts made to prevent and reduce future crime rates as well as costs of the criminal justice system. The consistent ideal characteristic of criminal law may it be politically, specificity, uniformity and penal sanction. They may be viewed as translations of these characteristics into statements of the ideal characteristics of major crimes. And in thorough study in crimes here are the characteristics of major crimes. 1. The behavior must have certain external consequences. Since a crime must have a harmful impact on the social interests; a mental or emotional state is not enough. The intention is not taken for the deed. 2. The harm must be outlawed. Any engaging immoral behavior is not crime unless the behavior has been specifically outlawed in advanced, criminal law does not have retroactive effect. . There must be conduct, must have an intentional or reckless act or omission which produces the harmful consequences. 4. Has a criminal intent, the motive for a crime may good but the intention might be to affect an outlawed harm, a criminal intent. 5. Fusion intent and the conduct do not fuse or concur. 6. Has a casual relation between the voluntary misconduct and the outlawed harm. Like what mentioned above crime has a major impact on the society especially in present highlighted form. The large-scale of crime of our days evokes fear and terror in the society; it has a terrible effect on the climate of opinion, results in the diminishing of the authority of the state, and the increase of taking justice into our own hands. The establishment of the perpetrators responsibility is slowly dwindling. It becomes more and more obvious that besides state criminal investigation, the crime prevention activity of the local and other communities is an essential factor. Prevention of crimes through environmental design, social control, encloses/ access control; criminal justice; and defensible space. These are all based on the premise that multiple housing has inevitable side effects which are sometimes undesirable and that it is possible to develop guidelines to avoid these since crimes amongst strangers are in part a simple by product of the numbers of unacquainted people who come in close physical contact. The impacts of crime are real, but surprisingly some costs are difficult to measure and where measurable. It can be harsh and brutal, public picture of crime’s costs that is as much myth and exaggeration as fact and truth. It is from the citizen’s point of view, no matter how accurate or inaccurate, that much of public policy and governmental effort to combat crime is based. Possible ascertain whether a crime has been prevented as a result of a crime prevention program. The majority of evaluations of crime efforts focus on interventions to address pre-existing crime problems and the impact of an intervention over a time period. †¢ Murder is an act of killing innocent person intentionally. †¢ Assault is an act of forceful throbbing directly or indirectly to other human beings. Kidnapping forceful abduction with an intention to ask for ransom. Basic Theory that makes it clear that the specific theoretical law which develop in the course of its unfolding and the subsequent applications of these laws to describing and explaining concrete empirical situations can be regarded as the generation by the basic theory of special theories. The behavioral model incorporates elements of organization learning, conflict resolution, shot run reaction to change in the society. Despite what appears to be only a recent concern for repaying the crime for the loss, the practice is historically quite ancient. Regulating the criminal process, reparation occurred taken by the victim against the offender. The state took control of crime justice; such revenge became in itself a criminal act. Increasing the dominance over human activities, it is also enhanced its control over criminal justice. Contribution of famous law makers makes sure that the basis of the legal system of various nations from the Roman regime to the present. The issues on determination of sentence would be mostly likely to conduct; disagreements adjacent to the undetermined sentence have been many and wide-ranging. Besides the criticism of ineffectiveness, they have deal with two parts of apparent vital flaws. Sentencing judgment has been extensively burdened as subjective, impulsive and leading to unprovoked discrepancy. Sentencing judgment has been extensively burdened as subjective, impulsive and leading to unprovoked discrepancy. The apprehensively felt by the offender has been thought to be unreasonable; on the other hand the effective disagreement that such vagueness is counterproductive to rehabilitative intends also has been made. The apprehensively felt by the offender has been thought to be unreasonable; on the other hand the effective disagreement that such vagueness is counterproductive to rehabilitative intends also has been made. These allegations, joint with to countless, and current legislation in an amount of states as well as the national authority has stimulated in direction of larger determinacy. Current studies advocate that, under legislatively set determinate sentencing, revisions are almost unremitting, typically in an increasing trend, with little consideration to the impact of revisions or corrections or even the crime rate.

Gay, Lesbian and Bisexual Issues - The Churchs Program for Homosexuality :: Argumentative Persuasive Essay Examples

Homosexuality: the Church's Program    This essay conveys the Church's traditional, 2,000-year-old teaching on homosexuality, considers other related information, then states what is available for enabling the homosexual man or woman to be inactive and refrain from homosexual acts - which is the Twelve Step Method.    Homosexuality refers to relations between men, or between women, who experience an exclusive or predominant sexual attraction toward persons of the same sex. It has taken a great variety of forms through the centuries and in different cultures. Its psychological genesis remains largely unexplained. Basing itself on Sacred Scripture, which always presents homosexual acts as acts of grave depravity, Church Tradition has always declared that 'homosexual acts are intrinsically disordered.' They are contrary to the natural law. They close the sexual act to the gift of life. They do not proceed from a genuine affective and sexual complementarity. Under no circumstances can they be approved. The number of men and women who have deep-seated homosexual tendencies is not negligible. This inclination, which is objectively disordered, constitutes for most of them a trial. They must be accepted with respect, compassion and sensitivity. Every sign of unjust discrimination in their regard should be avoided. These persons are called to fulfil God's will in their lives and if they are Christians to unite to the sacrifice of the Lord's Cross the difficulties they may encounter from their condition. Homosexual persons are called to chastity. By the virtues of self-mastery that teach them inner freedom, at times by the support of disinterested friendship, by prayer and sacramental grace, they can and should gradually and resolutely approach Christian perfection.    Surrender, Healing, Growth and Transformation    Along with the Rosary, Mass, Eucharist, and Reconciliation, the Twelve Steps Method is recommended for attaining healing and spiritual growth. The First Step: We admitted we were powerless over our condition - that our lives had become unmanageable. Who wants to admit that we are powerless or that our lives are unmanageable? But the truth is, we do not come to such a program unless we realize that something is wrong; something is missing; something is out of kilter. We will do anything but look inside ourselves. It gets worse. When all else fails - we are ready for the first step. We admit that we are powerless over these emotions - we feel defeated.    This is now the end of one phase of our life and the beginning of another.

Controversial Television Program Essay

My topic is Controversial Television Program; I believe that I can’t exclusively pertain to only one source. Why? Having a specific source restricts the information available for my topic that will hinder the comparisons of the advantages and disadvantages of certain controversial programs. A controversial television program doesn’t necessarily mean it has a â€Å"negative† impact to the audience, rather than a good conventional discussion for audience to tackle a particular issue that has a significant effect to the society or to an individual. It does not constraints ones idea, rather it asks us to become open minded and embrace various issues to talk about and open our minds and do something about it. This controversial television program varies from time to time. Decades ago, people are more conservative and restrict television programs that only cater to their taste, to their way of living. But now, people opt to have taste of these things that enhance their minds and argue things. I have chosen 3 various resources for my paper, and these three resources are great combinations to help me enable present a better research paper. These resources are in the same form of media as to my topic, and would surely cover all my questions and be able to expound a good argument to my audience.

Cola Wars Continue: Coke and Pepsi in 2010 Essay

Analysis of the US carbonated soft drinks (CSD) industry (a) Strategic issues The CSD market in the US (approx. $74 billion) is dominated by two concentrate manufacturers – namely Coke and Pepsi –. Both companies have been competing intensely since the 1970s, yet have thrived from this competition and have grown the business very profitably, as both have benefitted from the CSD market growth rates of around 10% p.a. until the early 2000s, when domestic consumption started to decline and in 2009 fell back to levels of 19901: U.S. Liquid consumption Trends (gallons/capita): 1970 Carbonated soft drinks 1990 2000 2009 22.7 46.9 53.0 46.0 U.S. Soft Drink Market Share (Unit Case Volume %): 1970 Coca-Cola Company PepsiCo, Inc 1990 2000 2009e 34.7 19.8 41.1 32.4 44.1 31.4 41.9 29.9 In order to understand the strategic issues of the concentrate manufacturers in the US market, an analysis of the CSD industry structure appears necessary. A practical tool for assessing strategic issues is Porter’s Five Forces, as this tool supports analyses of competition, as strategy is fundamentally about competition2. The model of Porter is an outside-in business unit strategy tool that analyses the attractiveness (value) of an industry structure, capturing the key elements of industry competition. Source: HBS case study ‘Cola Wars Continue: Coke and Pepsi in 2010’ May 26, 2011, Exhibit 1 Source: Porter, ‘Competitive Strategy’ Figure 1: Porter’s Five Forces Analysis Summary on figure 1 Barriers to entry are very high due to the following key factors: (1) anybody trying to break into the CSD market must compete with Coke’s and Pepsi’s combined market share of >75%; (2) the market leaders have – over decades – built up strategically critical supply, production and sales channels, which would require enormous investments for followers to copy and (3) the strong brand recognition in the market mainly developed via the cumulative effect of long-time advertising and the geographical availability of their products. Understanding the CSD industry and its competitive landscape and – given that the overarching goal of the concentrate manufacturers is to secure profitable growth – the primary strategic issue (central problem) for the concentrate manufacturers is the declining demand for CSDs, as these manufacturers have built their strategy over the decades on large volume production and distribution involving high amounts of investments (fixed assets) which are now (1) underutilized and (2) are not designed for alternative products (‘non-carb’). (b) Macro-environmental factors shaping the US CSD industry Since the early 2000s several macro-environmental factors have started re-shaping the US CSD industry. To obtain a full picture of the potential macro-environmental impact on this industry, I used the PESTLE framework. PESTLE stands for – Political, Economic, Sociological, Technological, Legal and Environmental. This framework is a tool for identifying, tracking, projecting and assessing macro-environmental trends and patterns which helps decision-making and to plan for future events. Figure 2: PESTLE Analysis Summary on figure 2 Based on the PESTLE analysis, 4 major trends that have already shaped respectively will continue to shape the current US CSD industry and influence the attractiveness of this industry are: (1) Shift in consumption  patterns towards healthier nutrition (non-carbs such as juices and juice drinks, sports and energy drinks and tea-based drinks but also bottled water) causing the CSD to fizzle (2) US Government fighting the US #1 health problem obesity by tightened nutrition guidelines and imposing taxes on CSDs (3) Increasing pricing power of emerging mass-merchandisers (e.g. Wal-Mart) posing a new threat to profitability for Coke, Pepsi and their bottlers (4) Non-carb market is open to new market entrants, as it is a stronger fragmented market not dominated by the ‘classical’ CSD companies (Coke, Pepsi, DPS, etc.) The PESTLE analysis also reveals that the change in the US CSD industry is not a one-timeimpact but rather an ongoing process: 2000s (early): start of a declining domestic consumption of CSDs 2005: new federal guidelines to fight obesity 2010: already 29 states introduced a ‘soda tax’ (c) Future attractiveness of the US CSD industry The US CSD industry will continue to be a very attractive market for the established players alone considering the size of the market and the strong position in the market of these players. The 3 A’s (Advertising, Addiction, Availability) continue to be the main purchasing criteria for consumers. Still these players will have to adapt their strategies to maintain market levels for CSDs. Possible strategic moves to act / react on the trends stated above should be based on the findings of the Five Forces Analysis and the PESTLE Analysis and could include: (1) Development of (approved by the US F&D Admin.) alternative sweeteners to reduce obesitycausing sugars (2) Compete on availability (through their impressive geographical reach) (3) Create a fragmented bottling network but give territorial exclusivity to bottlers as incentive to ‘grow the pie’ and use the bottling network as a competitive firewall (especially against massmerchandisers) (4) Escalate advertising sp ending to keep out entry Further market analysis can be carried out by using proven tools such as ’Ansoff’s Growth Strategy Matrix’ (market present vs. market future / product present vs. product future) or the brand analysis (brand strength = differentiation + relevance vs. brand stature = knowledge + esteem) but which I have not described in this report. The competition in the CSD industry is a stronghold between Coke and Pepsi with a few minor players together holding approx. 25% market share. Coke and Pepsi leverage their strong market position and build on economies of scale crowding out smaller players or – if necessary – acquire them. Competition between Coke and Pepsi is reciprocal, with both responding to each other’s strategy shifts. Most prominent were the development of diet and flavored varieties of CSDs. To further support the analysis of the future attractiveness of the US CSD industry, the following Force Field Analysis is useful, as it also reveals potential ‘restraining forces’ of change. As figure 3 shows, especially the market disruptions coming from domestic consumption of CSDs continuously declining have caught – to a certain extent – the ‘classical’ CSD companies by surprise, as they cannot respond to this development by standard measures – such as increasing advertisement or bringing new CSDs to the market – but are now facing a structural change in the beverage market with an uncertain outcome. Figure 3: Force Field Analysis The Force Field Analysis – as described in literature – is especially useful to identify â€Å"resistance to change†, providing a systematized framework that supports identify factors that hinder change (restraining forces) and factors that support change (driving forces). Kurt Lewin developed the principle, which is a significant contribution to the fields of social science, organizational development, process management, and change  management. (d) Potential impact of the four pressures (industry dynamics, globalization, risk and ethics) on the future attractiveness of the US CSD industry The insights gained from the analyses carried out under 1(a), 1(b) and 1(c) summarize the potential impact of the four pressures as follows: (1) Industry dynamics (defined as understanding how industries and companies change over time and understand their drivers of these changes): The environment in which CSD companies have been operating until the early 2000s was 5  characterized by competition but the industry dynamics tended to be ‘evolutionary’. The PESTLE analysis has shown, that since that time, market dynamics have dramatically picked up and several lasting disruptive changes (e.g. introduction of a ‘soda tax’) have happened. Subsequently this has had an impact on top and bottom line of the CSD industry (‘Cola Wars’ business case, Exhibit 3a). (2) Globalization (defined as when an industry globalizes, it undergoes structural shifts, so that the organizations within it find that their position in one country is significantly affected by their position in another country): Even if the aforementioned analyses are aimed to the US CSD industry, the data provided by the case study reveals that Coke’s share of US business in % of total global business is around 20% while Pepsi’s share is around 50%. The international business – in contrast to the US market – has been growing nicely given the strong population growth in emerging countries and the establishment of a ‘middle class’ in large nations such as India and China that can now afford CSDs. Coke has stronger benefitted from this growth as Pepsi has. This should give Coke further potential for economies of scale which should benefit bottom line considerably. (3) Risk (defined as the evaluation of levels of risk and reward attached to each potential business opportunity): The exposure of risk in the CSD industry – given that especially Coke and Pepsi (a) have a significant share of business in the single largest CSD market worldwide, which is the US and (b) rely on the success of a single type of product (carbonated soft drink) – is high. Impacts coming from macro-environmental factors – as shown in the PESTLE analysis – can be game changing for this industry, as already happening since the early 2000s. (4) Ethics (defined as a set of values and beliefs that do transcend cultures, time and economic conditions): Again stressing PESTLE, environmental protection has become one of these values that have affected the CSD industry and have at least forced the CSD companies to re-think their packaging strategy and in consequence potential changes in the production and bottling process. From the aforementioned I would draw, that industry dynamics has the major impact on the future attractiveness of the US CSD industry. General observations on using module concepts Engaging with theory and applying this to day-to-day business life has many advantages of which I would highlight: best quality: proven concepts efficiency: not to â€Å"re-invent the wheel† for free: applying theory in daily business life is – from an intellectual property stand point – basically not linked to any cost [except costs for implementation] The challenge left for every corporation is to understand, select and implement the theories, methods and tools that best suit their purpose. This requires experienced managers and experts that are capable of making use of theory to change practice. 1. Module concept I: Porter’s Five Forces Strategy is fundamentally about competition. Competition comes from many places. Therefore it is essential to carry out an ‘environmental scan’ in a systematic way. Porter Five Forces model is a proven outside-in business unit strategy tool that analyses the attractiveness (value) of an industry structure, capturing the key elements of industry competition. (a) Strengths of the framework Porter refers to these forces as the micro environment or line-of-business industry level (those forces that are close to the company and that drive the business). If changes happen in one of these forces, the company should re-assess their strategic position and – if required – take corrective action. Also it provides useful input for performing a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis. (b) Limitations of the framework The framework does not look at strategy from the inside-out. Consequently the view on core competencies on a company are ignored. I would have found it useful to understand where Coke has developed a competitive advantage vs. Pepsi and vice-versa. Therefore a SWOT analysis should always complement the Five Forces Analysis. Another critique I would make to the framework is the fact, that the 4 forces (1) entrants, (2) substitutes, (3) customers and (4) suppliers only relate to the center (competitors) but do not ‘interact’ among themselves. In the ‘Cola Wars’ e.g. the interaction between substitutes and customers would have been of interest. Last I would criticize the framework is not very useful for environments that are characterized by rapid, systemic and radical change which requires more flexible or emergent approaches to strategy formulation (this often happening with industries where disruptive innovation is foreseeable). This is also true for disruptions that give the possibility to create completely new markets (how to create uncontested market space and make the competition irrelevant)3. 2. Module concept II: PESTLE framework The PESTLE framework is a powerful tool and I used it to weigh up the wide range of factors in an organization’s environment that will impact on its strategy. Reading through the ‘Cola Wars’ business case it quickly became evident, that it is not one but several factors that are influencing the US CSD industry. PESTLE very much serves as a checklist of macro-environmental factors that can influence strategy. I personally prefer using the PESTLE framework in combination with the Force Field Analysis as I believe that PESTLE covers well the ‘driving forces’ of change but does not address the ‘restraining forces’. This becomes particularly evident in the analysis carried out under 1(c). (a) Strengths of the framework Similar to the Risk Management System, PESTLE provides a comprehensive ‘checklist’ of macro-environmental factors to make sure, that all ‘dimensions’ have been thought of and have been documented systematically. Also these factors can be classified as opportunities  and risks in the SWOT analysis as well as a risk register. Last but not least, PESTLE is easy to use and adaptable to any business. (b) Limitations of the framework Except for the stated under 2., I have not identified any major limitations of the framework, making it a tool I prefer working with. 3. Module concept III: Lewin’s Forces Field Analysis Lewin’s Force Field Analysis belongs to the great change management tools. He saw the drivers for and against change as a moving equilibrium and developed a way to analyse these drivers, giving birth to what he called a ‘force field analysis’. By knowing the driving and restraining forces of change, strategies can be developed to reduce the impact of the restraining forces and strengthen the driving forces. Even if the Force Field Analysis looks simple at a first glance, the following benefits are built into the system: Dynamics on action vs. reaction Allows different perspectives Highlights most critical matters (size of the arrow) (a) Strengths of the framework The Force Field Analysis complements the PESTLE framework as PESTLE covers well the ‘driving forces’ of change but does not address the ‘restraining forces’ in a structured or transparent manner. It is easy to use and adaptable to many situations in business. Especially I would like to highlight, that one has to put himself in the shoes of the other to understand drivers and restrainers for change. This can make a difference in outlining a strategy. (b) Limitations of the framework The Force Field Analysis is – different to e.g. a Risk Management System – by far not so sophistically developed. One generally starts the analysis on a white piece of paper with only very few supporting guidelines. ‘Checklists’ to avoid omissions of major drivers / restrainers are not known to me.

20 Reaction Essay Topics Hot and Fresh Topics on Social Stratification

20 Reaction Essay Topics Hot and Fresh Topics on Social Stratification If you are tasked with writing a reaction paper on social stratification, your first step is to select the most appropriate topic, one which has been narrowed down enough to fill the page requirements you have ahead of you. But this is not always easy. There are many topics out there from which to choose and which can make it difficult. Thankfully, you can get a little break by reading the 20 topics on social stratification for a reaction paper listed below. You might even find that one of them is perfect for your reaction paper: The Functionalist Perspective to Social Stratification The Contributions of Kingsley Davis and Wilbert Moore to Stratification The Role Social Stratification Plays in Social Function Why those Who Perform More Difficult Tasks Are Entitled to More Power and Prestige Social Mobility: Why Social Stratification Benefits from Open Stratification and Social Mobility What Contributes to Social Strata: Beyond Power, Wealth, and Prestige Melvin Tumin’s Theory of Social Stratification: What New Assumptions Are Given Max Weber’s Theory of Social Stratification Karl Marx: The Original Contributor to the Theory of Social Stratification The Positive and Negative Impact Social Stratification has on Society Can Societies Function without the Rules of Social Stratification? Why Closed Social Systems Are Beneficial to Economic Stability: The Case of India Conflict Theory and the Nature of Class: How Social Stratification Was Historically Defined Capitalist Societies: Exploiting the Working Class and Keeping Social Mobility Down The Harmful Impact of Social Stratification on Criminal Behavior The Positive Impact of Social Stratification on Religious Organizations The Role of Wealth and Production on Social Classes How Increases in Wealth Change the Landscape of Social Stratification The Validity of Kingsley Davis and Wilbert Moore’s Theory of Social Stratification The Validity of the Functionalist Perspective Aren’t those great topics? Naturally these are meant only as a guide for you when you set out to write. You will have specific guidelines which you must follow, as explained by your teacher. Nonetheless, this list gives you some idea of where to start and what kind of topics make for appropriate essays. You can take one of the topics from the list above if it is applicable to your task and use it as the foundation of your next essay. Along with all this useful material you may also check our 12 facts on social stratification and guide for a reaction paper on the subject. Sample Research Paper: Max Weber’s Theory of Social Stratification: What He Influenced For centuries social stratification has been analyzed by sociologists in terms of the causes and the effects it has on society. Karl Marx and Max Weber disagreed implicitly about the nature of class, something which applied to the traditional framework of stratification. Karl Marx based his ideas on the fact that modern society was divided into two groups of people. He divided people based on those who owns all means of production and those who work for production. According to this theory the capitalist societies, particularly those who owned all means of production exploded those who had to work. They did not pay a livable wage nor did they give workers an affordable place to live. Unfortunately it was thought that the workers fail to realize they were being exploited. It was Marx who believed that a revolution was on the horizon especially given the fact that the rich continue to grow richer by exploiting the lower class. His vision however did not come true. Society began to modernize and the working class acquired more education and specific job skills which allowed them to achieve financial success which was not feasible during the time of Karl Marx. Those individuals who were being exploited soon came to appreciate the protection offered by labor laws and unions. Factory workers started to earn salaries which were similar to the middle-class counterparts. It was Max Weber who attacked this seemingly simplistic idea of social stratificati on. Max Weber argued that only property, such as owning the equipment or the factories used for production, is not the only thing which determines the social class in which an individual is placed but rather a small part of that. Social class was better defined by Max Weber to include power and prestige as well as wealth and property. People who run businesses but do not own them are still able to increase production and enjoy greater profits. Max Weber argued that property can bring individuals prestige given the fact that people tend to hold rich people in a higher regard. But this can also come from another source such as an intellectual ability which far surpasses counterparts or athletic ability which is outstanding. In such cases the athletic or individual ability can lead to property if an individual is willing to pay for access to prestige. That being said Webber further defined prestige as something intertwined with wealth. It was Max Weber who believed that social class resulted from power, something which was a reflection on the ability of each individual to get what they want.   As part of his theory, Weber stated that individuals could overcome opposition, something which would lead to increased social mobility. Individuals who were simply hard-working and honest enough to overcome any opposition would be able to achieve greater power and change social classes. Wealthy individuals were more powerful than poor people but that power can come from the prestige of an individual which means that even poor people are able to achieve the same social status as wealthy people. Today sociologists consider social class to be the grouping together of individuals or groups of people who have similar levels of power, wealth, and prestige. It was the contribution of Max Weber to expound upon the ideas presented by Karl Marx which led to the modern understanding of social stratification and the manner in which Western societies divide individuals socially into different strata. Without the extrapolation on the different classes and what contributes to different social strata, modern social stratification would be significantly different if not for Max Weber. References: Esping-Andersen, Gà ¸sta. UNTYING THE GORDIAN KNOT OF SOCIAL INHERITANCE†. Research in Social Stratification and Mobility  21 (2004): 115-138. Web. Gamson, Zelda F. The Stratification Of The Academy.  Social Text  51 (1997): 67. Web. Gupta, Dipankar.  Social Stratification. Delhi: Oxford University Press, 1992. Print. Hiller, Peter. SOCIAL REALITY AND SOCIAL STRATIFICATION.  The Sociological Review  21.1 (1973): 77-99. Web. Holmwood, John.  Social Stratification. Cheltenham, UK: Edward Elgar, 1996. Print. Jackson, J. A.  Social Stratification. London: Cambridge U.P., 1968. Print. Lambert, Paul.  Social Stratification. Farnham: Ashgate, 2011. Print.

Very Low to Moderate Income Housing Loans

Very Low to Moderate Income Housing Loans The following is a summary of information about low to moderate income housing loans available to individuals or families through the U.S. Department of Agricultures Rural Development program as listed in the  Catalog of Federal Domestic Assistance  (CFDA). During the fiscal year 2015, a  total of $18.7 billion in loans were granted. The average direct loan granted was for $125,226 while the average guaranteed loan was for $136,360. Objectives To assist very low, low-income, and moderate-income households to obtain modest, decent, safe, and sanitary housing for use as a permanent residence in rural areas. Types of Assistance Direct Loans; Guaranteed/Insured Loans. Uses and Restrictions Direct and guaranteed loans may be used to buy, build, or improve the applicants permanent residence. New manufactured homes may be financed when they are on a permanent site, purchased from an approved dealer or contractor, and meet certain other requirements. Under very limited circumstances, homes may be re-financed with direct loans. Dwellings financed must be modest, decent, safe, and sanitary. The value of a home financed with a direct loan may not exceed the area limit. The property must be located in an eligible rural area. Assistance is available in the States, the Commonwealth of Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, the Commonwealth of Northern Marianas, and the Trust Territories of the Pacific Islands. Direct loans are made at the interest rate specified in RD Instruction 440.1, Exhibit B (available in any Rural Development local office), and are repaid over 33 years or 38 years for applicants whose adjusted annual income does not exceed 60 percent o f the area median income, if necessary to show repayment ability. Payment assistance is granted on direct loans to reduce the installment to an effective interest rate as low as one percent, depending on adjusted family income. Payment assistance is subject to recapture by the government when the customer no longer resides in the dwelling. There is no funding provided for deferred mortgage authority or loans for deferred mortgage assumptions. Guaranteed loans may be made to refinance either existing RHS Guaranteed Housing loans or RHS Section 502 Direct Housing loans. Guaranteed loans are amortized over 30 years. The interest rate is negotiated with the lender. Eligibility Requirements Applicants must have very low-, low- or moderate incomes. Very low-income is defined as below 50 percent of the area median income (AMI), low-income is between 50 and 80 percent of AMI; moderate income is below 115 percent of AMI. Families must be without adequate housing, but able to afford the housing payments, including principal, interest, taxes, and insurance (PITI). Qualifying repayment ratios are 29 percent for PITI to 41 percent for total debt. In addition, applicants must be unable to obtain credit elsewhere, yet have an acceptable credit history. Beneficiary Eligibility Applicants must meet eligibility requirements. Guaranteed Loan Low and Moderate income eligible. Credentials/Documentation Applicants may need to submit evidence of inability to obtain credit elsewhere, verification of income, debts, and other information on the application; plans, specifications, and cost estimates. This program is excluded from coverage under 2 CFR 200, Subpart E - Cost Principles. Application Procedures This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. For direct loans, an application is made at the Rural Development field office serving the county where the dwelling is or will be located. For guaranteed loans, an application is made to a participating private lender. Award Procedure Rural Development field offices have authority to approve most Direct loan requests. Processing of guaranteed loans varies in each State. Consult your local telephone directory under U.S. Department of Agriculture for a Rural Development field office listing or visit the website http://offices.sc.egov.usda.gov/lcoator/app for a State Office listing. If no backlog exists, decisions on direct loan applications are made within 30 to 60 days. Requests for guarantee loans are acted upon in 3 days of receipt of the lenders request for guarantee. Range of Approval/Disapproval Time For direct loans, from 30 to 60 days subject to availability of funds, from the time the application is filed if no backlog of applications exists. A pre-qualification may be provided to potential direct loan applicants upon call or visit a Rural Development office, though results are not binding. For guarantees, a decision is required within 3 days of loan package submission by the approved lender. Information Contacts Regional or Local Office Consult your local telephone directory under United States Department of Agriculture for Rural Development field office number. If no listing, contact appropriate Rural Development State Office listed in Appendix IV of the Catalog or on the internet at rurdev.usda.gov/recd_map.html. Headquarters Office Director, Single Family Housing Direct Loan Division or Director Single Family Housing Guaranteed Loan Division, Rural Housing Service (RHS), Department of Agriculture, Washington, DC 20250. Telephone: (202) 720-1474 (direct loans), (202) 720-1452 (guaranteed loans).