American-Cuban Relations: A critical analysis

The American Cruise Line is a United States small ship company. Its operations are around Eastern Seaboard in the US. Its operations commencement is dated back in early 1970’s. However, the business stopped sometimes in 1980s due to a decreasing level of customers. Its operations either went in business again in 2000, by launching some three ship fleet with the American Eagle (49 – passenger capacity) being the first ship. Others launched in 2002 and 2005 where the American Glory (49 – passengers) and the American Sprit (98 – passengers) respectively. In 2007, the company is to launch the American Star.The owner had sold the company in late 1980’s before it went under due to operational inefficiencies. Since it’s rebirth in 2002, the company continues to embrace a big growth, with its operation expanding highly. The same rebirth followed an acquisition by the owner of the then former company which was operational in 1980’s. The company is a US based small ship company registered in Maine. Its operations are along the US coastal line form the Maine to Florida. Operational profile. The company owns a much larger fleet with a capacity of 220 square fleets.Its cabins are of a larger size than any other small ship company. In its fleet Profile, its currently operates with three cruise ships such as the American Eagle, American Glory and the American Spirit. Its current decision to launch the fourth ship (America Star) within the year is perhaps its greatest achievement. Its ships are profound in three characteristics which make it to adequately compete with its competitors at the market place. They are highly roomy, and of the most modern nature. (http://www. cruisecritic. com/reviews/cruiseline. cfm? CruiseLineID=57)Their ships have adequate privacy due to the large capacity, intimate relations for their relatively small size as well as allowing its passengers to be able to frequently meet within a week. Their dining room are located at the deck which primarily lowest at the stem point, where it has some windows on its three sides it has other two cabin sized lounges, with the tip deck making open cut facility for the remaining part of the ship. The four decks will then be linked together by an elevator. Many of the cabins have balconies which provide an attractive environment for the passengers on the coastal scenery while traveling.Those without balconies will have their windows painted large pictures which are then opened for free circulation of air and also the different sounds emanating form the sea. They also offer cabin facilities for persons who are single or disabled. Generally, the vessels will have identical features in regard to the facilities, decor and also layout. The passengers are free in their choice of cruise in terms of date or even itinerary without been forced to use a cruise without their choice. (Morgan, 2004) The decors are attractive and exciting, with both muted and a range of simple colors.Their close array is like that of a hotels generic lobby. Its main lounge has a specific location. This is underneath their bridges at a directly forward position. It has a set of tail windows in one of the three sides which are used for providing a way of viewing the attractive scenery while passing. However, the stringent maritime laws have worked to lower the company’s activities. These laws prescribe an attractive package in the certain conditions relating to capacity, modern, operating diameters, and other legal conditions on the cruise business.At one point, we can talk of the advantage into the nature of the business customers. However, the same laws may be argued as stumbling blocks into the cruise business where stringent legacies ought to be followed. Consequently, cruise businesses are required to have a layout of specific modalities in the operational system and the physical nature of their ships. Such conditions have been voted as been hig hly expensive leading to conditions of high operating costs. The company has the launch of the American Star in progress which is to be later in this year.Either, its development of Pearl Seas Cruises within the course of 2008, will find the company at the most competitive edge in the international waters. This would have the same similarities to the other ship models, though it’s highly sophisticated. With a regard to the environmental laws about water pollution, the company has been in the fore front to ensure Low rates of environmental pollution. The construction system of its ships follows a highly conventional manner in which high standards ships manufactured with lower cases of oil spill-over in the water.Either, it has various facilities for ensuring safe custodies for any emergency cases and accidents that would lead to oil spillages in the water. Above these parameters, its high advocacy to the travelers of frontiers that provides conditions for lower environmental p ollution has been ensured by the management. The company has continued to recognize and put in place various campaigns on environmental conservations, and reduction in water pollution. Through such a campaign, it has ensured high operational statuses which provide a hallmark in the conservation of the water environment through reduced pollution.(Sagers, 2006) Organizational structure and current operating environment. The company has provided a layout in terms of its organizations structure. A compliment of various stakeholders to be same structure is therefore available. It has the CEO as the highest rank in the structure. A panel of board of directors also accompanies the same structure. Elsewhere, various managerial staff positions provide management services to the different management offices. The current operating structure may be summarized under the aspect of ship board organizational structure.The shipboard organizational structure is comprised of system of controls into th e various activities and operations at the time of boarding a ship. Like any other organizational activity, the ship boarding activity is comprised of various activities that help an adequate environment for the operations. Different personnel have various delegated responsibilities, which help the smooth process of activities during the boarding time. (Hazell, Fitzpatrick, 2006) Various control persons are therefore delegated with various duties.These include; operations control who is capable of the communication process within the shipping process. The engineering control, who provide various engineering services for the shipboard process incase of mechanical breakdowns; the damage controller, who provide repairs and maintenance to any materials breakdown in the shipping process. The shipboard directors(s), who provides a package of directorship in the control layout systems of the ship board process. Above these profiles, the shipboard organizational structure is compounded by o ther systems of control / control officials.These are medical controls, finance officials, supervisors, safety officers, security control and quality assurance controls. All the controls play their relevant authorities and displiness in correspondence to the requirements of the shipboard process. Summarily therefore, shipboard organizational structure is comprised of a system of control that ensure adequacy in the company’s organization at the shipboard process. The shipboard operating structure is comprised of a system of control available at the process of its operations.While the ship is on its traveling process, there are various operating controls and processes that accompany it for adequate and safe traveling and services. At one level, the demographic population of the company can be echoed in a close perspective between the ships and the passenger volume they operate in. The demographic structure of the company depicts diversity in its clients in terms of geographical parameters. Clients are from the whole region. Generally, the number of children clients has been voted to be low.However, a higher volume of children is available during the summer within the Maine and the New England. Currently the company has its three ships with the American Star at the verge of been launched within this year. (Talley, 2000) The major nationalities working in the onboard process are Americans. The company has had dominance in the employment of Americans for its onboard activities. This is in attribute and understanding that fellow Americans can provide good customers relation in the onboard process during the ship traveling.However, the onboard process is accompanied by a number of activities on process where different personnel perform different roles. Firstly, the role and position of show excursions controller should not be overlooked. This is the controller person in charge of excursions in every port in which passengers are taken through to know the differ ent environments they are driving in. This is taken as a refresher course to the passengers in the long journey processes. Food and drinking personals (waiter) who are allied to the different schedules of the passenger feeding.With the long journey process, passengers are ideally provided with food, this is taken care of by the food controller. Like the shipboard organization structure, the on process is also accompanied by a system of control which includes quality assurance, finance, medical, security, administration, above others. At the onboard process, the persons are responsible for these controls. At the shore side either, a comprehensive, package of management structure, controls and human resources issues is highly pronounced to provide a higher and better environment of the shipping process.Majority of the characteristics of activities found at the shore side is a combination those at the shipboard organizational and operating structures above those of the onboard structur e. A combination of the relevant system of control relating to the various systems of control is therefore attributable to the shore side organizational structure. Marketing positioning The small ship industry in America is highly competitive. The company continue to get a high and stiff competition form its competitors around the world.The success to the company has however been through a package of providing relatively high quality products and services above other strategies which helps it to even pursue well in such a competitive market. It has however a highly developed and established system of itineraries which are found placed in the whole Eastern Seaboard covering the Penobscot Bay at the Maine up to the Florida. (Haigh, Nomikos, Bessler, 2004) The traveling system changes considerably during the various seasons of the year. The cruises allied to England Island have the Block Island as their stopping areas at the summer periods.They can also stop at Nantucket or Martha†™s Vineyard. Trips also change in the course of the year depending on the environmental conditions allied to the navigation process. There is the June offer of itineraries from the Chesapeake Bay which are allied to the Baltimore case. However, these are all short trip cases. The great passageway which is form the Baltimore to the peak of Florida is among its long paths. Elsewhere, the ships will sail via the Antebellum Itineraries, which is form the Jacksonville and the Charleston.This occurs at the periods form November throughout April. The Okeechobee trip is offered as an occasional trip. As the 2008 approaches, other cruises will be introduced by the Pearl Seas Cruises. There destinations are proposed to been Canadian Marmites, St. Lawrence Seaway Caribbean American itineraries and also the Central American itineraries. This 2008 activity plan is a clear indication of the high level of expansion by the company in their itineraries. (Still, 2001) The target market of the compa ny is to include the whole of the US costal line.However, this is only its immediate (short run goals) with the intensity into its expanding phenomena, the company is perhaps to embrace its final attribute of expanding to reach the various water ways and ports in the US coastal strip. Elsewhere, its greatest achievement would be expanding to the broad foreign market. Foreign market is seen as an attribute in which the company will develop in capacity to even reach the global market, through mergers, acquisitions, starting or even through Franchises. Miscellaneous details The American Cruise company has continued to embrace the sovereignty as one the largest small ship company in US.Over the last three years, it has had an average of reported profit amounting to $ 694 per annum. The price of it share in the American stock market has considerable been improving. Since is rebirth in 2002, it has continued to show an increasing level of profit. . References Cruise Review and News (2007) American Cruise Lines. Retrieved on 7th Nov. 2007 from http://www. cruisecritic. com/reviews/cruiseline. cfm? CruiseLineID=57 Haigh, M. S. , Nomikos, N. K. , & Bessler, D. A. (2004). Integration and Causality in International Freight Markets: Modeling with Error Correction and Directed Acyclic Graphs.Southern Economic Journal, 71(1), 145+. Retrieved November 6, 2007, from Questia database: http://www. questia. com/PM. qst? a=o&d=5006987575 Hazell, L. C. , & Fitzpatrick, S. M. (2006). The Maritime Transport of Prehistoric Megaliths in Micronesia. Archaeology in Oceania, 41(1), 12+. Retrieved November 6, 2007, from Questia database: http://www. questia. com/PM. qst? a=o&d=5015172724 Morgan, C. (2004). The Public Nature of Private Industry in Confederate Georgia. Civil War History, 50(1), 27+. Retrieved November 6, 2007, from Questia database: http://www. questia. com/PM. qst? a=o&d=5006500885Sagers, C. (2006). The Demise of Regulation in Ocean Shipping: A Study in the Evolution of Co mpetition Policy and the Predictive Power of Microeconomics. Vanderbilt Journal of Transnational Law, 39(3), 779+. Retrieved November 6, 2007, from Questia database: http://www. questia. com/PM. qst? a=o&d=5019554251 Still, C. (2001). Thinking outside the Box: The Application of COGSA's $500 Per-Package Limitation to Shipping Containers. Houston Journal of International Law, 24(1), 81+. Retrieved November 6, 2007, from Questia database: http://www. questia. com/PM. qst? a=o&d=5000945085 Talley, W.K. (2000). Ocean Container Shipping: Impacts of a Technological Improvement. Journal of Economic Issues, 34(4), 933. Retrieved November 6, 2007, from Questia database: http://www. questia. com/PM. qst? a=o&d=5001180959 The state of conflict that has come to define the relationship between the United Sates of America and the tiny island nation of Cuba is, unknown to many, as old as the history of Cuba as a nation state. The first signals of conflict came early in the life of Cuba as a Spanis h colony when in 1795 Negro slaves and whites came together to revolt against the Spanish overlords.That momentous occasion caused a great disquiet amongst slave owners in the American south, and thus attracted the keen attention of the American establishment, who did not desire such an example to be set too close to home. The first overt reaction of the American rulers at that time was to make overtures to Spain for the purchase of Cuba. In this respect, Thomas Jefferson, the American President, was reported to have said in 1809 that, â€Å"I candidly confess that I have ever looked upon Cuba as the most interesting addition that can be made to our system of States. †Though Spain persistently rejected the American request, the Americans never dropped their desire to annex Cuba by any possible means. This ardent American desire and policy on Cuba was summed up by the then American Secretary of State, John Quincy Adams, â€Å"These islands (Cuba and Puerto Rico) are natural a ppendages of the North American continent, and one of them (Cuba) almost within sight of our shores, from a multitude of considerations has become an object of transcendent importance to the commercial and political interests of our Union†¦ These are laws of political as well as physical gravitation.† It was therefore only a matter of time before the first real conflict over Cuba erupted. When it did, it did so in two fronts, one involved America and Spain while the other involved Cubans themselves, who desired independence from Spain. In 1823, US President Moore declared the Western Hemisphere, including Cuba, as an exclusive sphere of influence of the United States, warning European powers to take heed and steer clear of any interference in the affairs of any nations within the so declared ‘sphere of influence’.Subsequently, in 1898, Cuba became a theatre of war between the Americans and Spain, the Spanish American War. This was coincidentally at a period C uban revolutionaries claimed they were on the threshold of liberating Cuba from Spanish rule. The Americans won in the ensuing war and subsequently took control of the governance of Cuba as protectorate. What was to follow was a despoliation of the Cuban state by successive American appointed administrators, land speculators, profiteers, the Mafia and their local Cuban collaborators.Attendant to these was the economic emasculation of the Cuban nation as American colonists swooped on the island and acquired large swats of fertile farm land, marginalizing the local people, and in so doing sowed the seeds of the many conflicts that were later to help shape American-Cuban relations for almost the past half century. 2. 7. 1. The Actors General Fulgencio Batista Formerly a Sergeant in the Cuban Army, Batista came into limelight when he led a group of sergeants, ‘The Revolt of the Sergeants’ to overthrow a sitting government in 1933.Though he relinquished power shortly afterwa rds to become the army chief, he made himself the elector of the next president and subsequent five others until 1940 when he contested and won the presidency for himself. Successive American administrations found him a willing ally and were in tacit support of his conducts and rule over Cuba. Under Batista, the Miami mafia mob became the co-rulers of Cuba. Batista was to retire from presidency in 1944 only to make a quick come-back in 1948 when he was elected into the Cuban senate. Later in 1952 he sidestepped the elections and took over power in a coup.With the support of U. S administration of Harry Truman, Batista cancelled the elections all together and became the maximum leader. Fidel Castro was one of the contestants in that botched election. Fidel Alejandro Castro. The son of a wealthy Creole farmer, Castro was educated in Jesuit schools, and finally graduated from the Havana University with a law degree. Disillusioned with the poverty he saw around him and the display of we alth by the American colonists, Fidel joined the political movement with intent to stand for an election into the Cuban congress.When this desire of his was scuttled by the cancellation of the elections and the usurping of power by General Batista in 1952, he took up arms with other rebels, ‘The July 26 Movement’, including his brother Raul to wrest power out of Batista forcefully. Their attempt at rebellion in 1953 ended in disaster and the killing of most of the rebels. Fidel, his brother and a few others were arrested, tried and jailed, but later released. Castro was to strike again, and eventually defeated Batista’s soldiers to take over power in 1959.On assumption of power, Castro took several populist actions, which endeared hum to the down trodden Cuban masses. But his later actions of nationalizing all American run and owned businesses in Cuba, closing down all casinos, whore houses and sending the mafia on the run, as well as his switch to communism earn ed him powerful enemies in the American establishment. Ever since, American Cuban relations can be effectively summed up in two this short term- mutual hostility. Dwight D.Eisenhower. Two-term president of the U. S, 1953-1961, Eisenhower was in power at the height of the Castro rebellion, which ousted General Batista from power. Eisenhower was the architect of initial American policy response to the Castro challenge. Hostility was the initial and consistent response to the Castro regime. This response was later to be institutionalized, thus setting the mood for subsequent US-Cuban relations. Eisenhower took far-reaching steps to checkmate Castro.Some of these steps were the authorization of the CIA to train Cuban exiles to form a force that could overthrow Castro and install a more acceptable regime in Cuba, cancellation of American orders for Cuban sugar, prohibition of American exports to Cuba, putting pressure on European banks to cancel loans meant for Cuba, blacklisting of nava l vessels carrying cargo to or from Cuba, massive propaganda offensive to discredit the Cuban regime, liaisons with and use of mafia links to try to assassinate Castro or destabilize Cuba. J. F.Kennedy. He succeeded Eisenhower as American President, and true to his election campaign pledge to ‘do something about Castro’, Kennedy went a step further by authorizing and sponsoring the failed Bay of Pigs invasion of Cuba in 1961 by Cuban dissidents. This was in addition to other US sponsored covert and overt terrorist attacks against Cuban interests and attempts on Castro’s life. Kennedy followed up late with the termination of diplomatic relation with Cuba in 1961. Some other attempts by Kennedy to deal with Castro included:Operation Mongoose, whose aim was to overthrow Castro through acts of terrorism and subversion; The invoking of US military intervention to â€Å"overthrow the Castro regime; Operation Peter Pan, (1960-62) in which the US colluded with the Catho lic Church transport 14,048 unaccompanied children between 6 and 18 years old out of Cuba for the US; Institution of a full trade embargo against Cuba; Punishment and denial of US aid for third countries which allowed assistance or commerce with Cuba; Imposition of travel to Cuba on US citizens;Though President Kennedy was assassinated in circumstances which some speculations have linked to the Castro issue, the US policy direction on Cuba did not change, but had rather intensified with successive US regimes. 2. 7. 2. Issues Basically the Issues at stake in American-Cuban relations could be described as both ideological and territorial.The United States on the one hand had a long standing interest to annex or control Cuba and to have the island nation come under its capitalist mode of operation, whereas Cuba had traditionally resisted any such designs by the Americans and had under Fidel Castro towed the communist line of production and ideology. 2. 7. 3. The Underlying factors Many recent commentators on the unending face-off between Cuba and the United States have wondered why the US has found it difficult to accommodate the Cubans and their communist form of government at a time that they have normalized relations with such other communist regimes as China and Vietnam.`It is quite obvious that such commentators have failed to take into account the full weight of the underlying factors that have helped shape and instruct American policy direction on Cuba. Some of these factors can be discussed below: 1. The ideological war: Capitalism vs Communism. It is an established fact that the United States is as rabidly capitalist as the former Soviet Union was Communist. So when Castro concluded his revolution by tilting towards communism he inadvertently touched America at it sorest point.It was a declaration that an enemy was at its back door. Thus Cuban American relations were ab initio anchored on diametrically opposing posts the moment Castro took over power. 2. Proximity. Cuba’s proximity to the US which put it within the so-called American sphere of influence in the Western Hemisphere precluded that the US must, as a matter of national security, have interest in what happens in its back waters. And what the American administrations loathed most was for Cuba to become an example which other Western hemisphere counties could look up to and copy.3. Interest groups. Most of the American business interests that were nationalized by Castro are today part of the dominant group ruling the United States, and dictating state policy. They have not forgiven Castro and will never forgive him for disrupting their lucrative business operations in Cuba. The same is true of the mafia elements within the Cuban exile groups. 4. Resistance from ordinary Cubans. Having witnessed firsthand what unbridled capitalism and corrupt did to them the first time they came under U.S rule, ordinary Cubans are loathe to again welcome any American hegemony over the m. 2. 7. 4. Scope The scope and ramifications of US-Cuban relations crossed national and continental boundaries in the 70’s and 80’s when Cuba embarked on shoring up leftist regimes or groups in South America and Africa. These attempts brought them into direct conflict with the US; with disastrous effects in Nicaragua, Grenada, Angola, Ethiopia and Congo democratic republic.Consequently, local conflicts were internationalized, protracted and resulted in tremendous human tolls. The effect of almost fifty years of American economic embargoes on Cuba has also been horrendous on Cubans. 2. 7. 5. Previous Attempts at Settlements The first known attempt at settling the disputes between the US and Cuba was in 1964 when Cuba offered to desist from exporting revolutionary ideals to South America if the US would halt its hostile actions against Cuba. The US refused, urging Cuba to first stop close relations with the USSR.It was also speculated that Kennedy had intended to engage Castro in negotiations shortly before he was assassinated in 1965. Another secret attempt was made at reconciliation in 1974, but was supposedly cancelled after Cuba got involved in Angola. President Ford at that time linked normalization of relations with Cuba with its voluntary pull out from Angola. It was under Jimmy Carter that the most real attempts at the normalization of relations with Cuba were initiated when he lifted the travel embargo on Cuba.A maritime boundary and fishing accord was signed by both countries during this period, while diplomatic interest sections were opened by both countries in Havana and Washington, respectively. Other bilateral negotiations were started; the American Congress also repealed the provision of the Foreign Assistance Act of 1961 banning aid to countries permitting their vessels to trade with Cuba. The National Security Council also rescinded the ship blacklist. 2. 7. 6. Phases and IntensityThe Kennedy era was perhaps marked zenith of Ameri can-Cuban hostility. It was then that the botched Pay of Pigs invasion of Cuba was carried out in 1961, same as the Cuban missile crisis, which involved the installation of Soviet nuclear missiles in Cuba in 1962. Though the missile crisis was eventually resolved, when the Soviets willingly dismantled the missiles, the crisis almost precipitated a nuclear war between the US and the Kruschev-led Soviet Union. Several U.S instigated attempts were also made during that same era to assassinate Fidel Castro, but the climax was the assassination of President Kennedy himself. The other high intensity points in American-Cuban relations were in the 70’s and 80’s when Cuba actively supported leftist insurrections against American backed dictatorships in Africa and South America. The most notable of these countries where Cuban forces played direct combat role were Angola, Ethiopia, Grenada, El Salvador and Nicaragua. The U. S countered these Cuban moves by pouring in massive supp ort to the opposing groups.However, the relations between the have traditionally been known to experience upward and down swings in response to the parties in power in Washington- much more favorable under the Democrats and less so under the Republicans. 2. 7. 7. Balance of Power In territorial size and resources, Cuba is no match to the United States, but the active support of the Soviet Union at the start of the Castro revolution and until the collapse of the Soviet Union brought a semblance of balance of powers between the two feuding neighbors- U. S and Cuba.However, at the collapse of the Soviet Union, there were expectations that Cuba would falter and collapse, but world public opinion and the support of Canada, the European Union, China and of late Venezuela have helped stabilize Cuba ideologically and materially. 2. 7. 8. Capacity and Resource There is no room for comparison of the resources and capacities of both countries, the U. S is way ahead of Cuba in all respects, but as explained earlier what Cuba has going for it are favorable world opinion and the resilience of its leadership and people. 2. 7. 9.State of the Relationship The support for the continuing US embargo of the island nation have been completely eroded, as many of the nations of Europe, Latin America, Asia and Africa have since normalized relations with Cuba. Even fellow North American countries of Canada and Mexico have consistently opposed US embargoes on Cuba, especially as it affected US subsidiary companies within these two nations. Even many Americans have come to question the wisdom of continuing with the hostilities when it is obvious that Cuba, at present, poses no threat to U.S national security. Visits have been made of late by sitting congressmen and other influential Americans in efforts to settle the disputes between the two neighbors that are so close but yet so far apart. Works Consulted Chadwick Ian. History of Cuban American relations. Retrieved March 30, 2007 from h ttp://www. ianchadwick. com/essays/cubahistory. html Siera J. A. Compilations of History of Cuba. Retrieved March 30, 2007 from http://www. historyofcuba. com/history/batista. htm

Just War Theory and a Thoughtful Realist Essay

One important theory within International Relations shows a moral aspect on how to conduct war. This theory is called Just War Theory. Just War Theory is a doctrine of military ethics from a philosophical and Catholic viewpoint. This theory consists of two parts: Jus ad bellum (the right to go to war) and Jus in bello (right conduct within war). Jus a bellum, the right to go to war, explicitly describes how a nation-state should conduct itself before preparing for war. There are seven sub-categories within Jus a bellum: Just Cause, Comparative Justice, Competent Authority, Right Intention, Profitability of Success, Last Resort, and Proportionality. Just Cause is explained as needing to have a reason to go to war. Not just for recapturing material possessions, but if lives are in danger. Comparative Justice is described, as the suffering and injustice on one side within a war must outweigh the suffering and injustice on the opposite side. Competent Authority must be in order within a war. Nation-states that start war must only start it if the authorities within the nation-state are focused on justice. Right Intention is defined as; force may be only used for a just cause correcting a suffered wrong. Gaining or maintaining economies by a nation-state is not considered just. Profitability of Success indicates that arms are not to be used where unbalanced measures are pertinent to be successful. The Last Resort category is presented as; force in war may only be used if peaceful alternatives have been completely depleted. The final category, Proportionality, is the foreseen benefits of starting war must be proportionate to its expected wrongs. Jus in bello, right conduct within war, shows how a nation-state should handle different situations within a war. There are five sub-categories within Jus in bello: Distinction, Proportionality, Military Necessity, Fair Treatment of Prisoners of War, and No Means malum in se (evil within itself). Distinction is described as; nobody in war should attack those not involved in war. No one should bomb civilian areas where there are no military targets. Also, those in war should not target those who have been captured, surrendered, or do not present immediate threat. Proportionality is the idea that an attack cannot be launched on a military objective in the knowledge that the incidental civilian injuries would outweigh the military advantage. Military Necessity is demonstrated as the use of the most minimal force to limit the unnecessary death of civilians. Fair Treatment of Prisoners of War, under Just War Theory, is important. It prohibits the mistreating or torturing of captured enemies because they no longer pose a threat. The final category is No Means malum in se. This prohibits the use of evil weapons and methods of warfare including: mass rape, nuclear weapons, and biological warfare. The Just War Theory explicitly details on how war should be carried out by a nation-state. Although war involves deaths and destructions, this is one of the most moral ways to handle warfare. In the world of realism, a thoughtful realist would like to believe that every single one of these categories would be played out perfectly. But, there are many inhibitors with each of these. A thoughtful realist would not believe with the concepts of Just Cause and Profitability of Success because nation-states need to protect their territories and their economy to stay in their current position of power. Under the concept of Last Resort, a thoughtful realist would agree not to jump into war immediately, but if a major threat were to happen upon a nation-state, it would be necessary. Proportionality within Jus ad bellum and Jus in bello coincides with the views of the realists of stability within a nation-state. Realists understand the effects of war on civilians. Contrary to Distinction and Military Necessity, Realists recognize that within war there are many casualties and sometimes they are of civilians and those not involved in the war. With terrorist groups of today, a thoughtful realist would say that torture of those captured is sometimes pertinent to safeguard the state. This combats the view of Fair Treatment of Prisoners of War. When the safety of a country is at risk, a realist would agree that it becomes a vital interest. This vital interest could lead to nuclear or biological warfare depending on the severity of the vital interest. Within the No Mean malum in se category, it overtly condemns this. But a thoughtful realist would agree that these steps might be necessary in some situations. A thoughtful realist would agree with one part of the category, which states that mass rape is completely immoral. A thoughtful realist would want to agree with every statement within the Just War Theory. However, understanding when protection and vital interests are at stake, a thoughtful realist would agree to disregard most of the Just Law Theory to safeguard the country.

Edge cities Essay Example | Topics and Well Written Essays - 1000 words

Edge cities - Essay Example The developer is able to make considerations on what they would want for the city and using this, they are able to choose a strategic location for the city. They developer can choose a location that will be close to the resources needed by the city or even a location that is close to the developer’s target market. A location can reduce the costs of raw materials, transportation costs and costs of delivering products to the market place. The edge city can also be located to close to social service points. Edge city developers are also able to provide proper and efficient social services and supplies such as water, electricity and medical services. In historic cities, the quality of social services is determined by the other factors such as finances, population size and geographical size. Edge cities enjoy the benefit of better planning over historic cities. This is because the developers plan for the expected population size in the edge city. When the population is determined the city planners are able to optimally determine the infrastructure needed and the layout of the various structures in the edge city. Historic cities chronically suffer from social-fiscal problems such as poverty and crime and capacity problems such as congestion. Another advantage of edge cities over historic cities is that they have flexibility in terms of redevelopment and restructuring. Since the developer has control over the layout and operations in the city, they can change the layout of the city so that it meets the desired objective. This would only need enough finances and it is done. Historic cities are quite inflexible as redeveloping them would require a lot huge amounts of funds for compensating owners of different structures as well as lots of documentation on policy and legislation. When edge city developers are choosing the location and capacity for their mega-projects, they have to make several

Psychological and Psychoanalytical Aspects of Individual and Group Essay

Psychological and Psychoanalytical Aspects of Individual and Group Behaviour - Essay Example My diary work will follow a conglomeration of the attributes namely that of apprehension, leadership, psychological agreement, psychological development as well as transference. The sole motive behind selecting these issues is due to my belief that these issues will be affecting me enormously in both the sporting environment as well as an employment environment I obtained realization of the fact that interaction with the people is of great importance in life whether it be the people whom I have known well as well as those with whom I had very little interactions. In this respect the ushering of the group behavior provides us the scope for the development of individual behavior and problems of the society to the greatest possible extents. These problems are solved to the greater possible extent with the help of effective solutions which are applied most efficiently by the society under consideration in accordance with the opinions of people of the society. For expanding the horizon of my knowledge on these topics I concentrated on to the specific Freudian techniques for a transparent understanding. The knowledge associated with the psychological agreement has immensely benefitted me and I have become much more conscious about the fact that as psychological indenture is unwritten it can put stress on the workers and turmoil their presentation. This bears significant importance for me in the study of such an agreement as I am currently studying it and it may need longer study hours as what I consider my agreement to be possibly will not be reciprocally decided within the psychological agreement and hence it permits me to support myself for some displeasures if ever created upon such a situation. An instance of the psychological agreement within my profession as an assistance of a makeup artist is that my work manager might anticipate a certain customary of performance as she disburses for me and others as well to work. Now if I fail to convene the demanding volume of physical task it might lead to greater level of stress for me as well as in return permit the manager to conclude my working environment. I will be truthful and reveal the fact that my view of devolution was to disregard such a notion as I realised that I have provided people an opportunity before I made my mind clear up regarding their kind of character. Along with this, the notion completely disregards this view. This was merely a week previous to the first coursework where I have decided to assess my personal preference map as well my perception about the distinction of the authoritative shapes throughout my years. I can clearly state that change is a prime parameter within the domain of psychoanalysis as well as psychological field. This gets reflected in my opinion as an instance where I recognize the manager of the makeup company as my guide with the help of the use of change. I depict the coach as my guide because of the fact that the resemblances between them are eerie o r because of the fact that I am guided to think. My manager might be argued to be considerate, kind as well as understanding. Analysis of my manager resulted in inferring an ideal conclusion that these are several forms of changes where I have distinguished my manager just like my guide under the purview of change. The whole thought of

Career Choices Research Paper Example | Topics and Well Written Essays - 750 words

Career Choices - Research Paper Example In addition, this course has many career paths from which one can choose from particularly when it comes to specializing in one area of the profession. This being the case, this paper explores the Design and Technology as a career choice in relation to Engineering in terms of both career prospects and competing benefits. A career in design and Technology is indeed a good one considering the fact that many career paths from which one can choose from in this field of study exist. This is the main reason I have decided to pursue a career in Design and Technology (Barlex, 27). With a degree in Design and Technology, one either can opt to become a designer in various sectors or incorporates their technological skills into private practice just to mention but a few (Ansell, 56). Currently, I am majoring on the Design part of this career, as it coincides with my career aspirations of becoming a designer. Being a student of Design and Technology, I usually go for industrial attachments and i nternships and currently I am attached to a technology design company that specializes in the production of digitized photos. Since the field of Design and Technology is a broad one, one needs at least an undergraduate degree in order to be more refined in their prospective professions and career choices. This is especially so due to the heavy and broad coursework involved in the study, a prerequisite most employers look for (Barlex, 27). When it comes to the working environment, perhaps Design and technology is the best career choice one can make considering the fact that designers can choose either to work online or work from offices in the course of carrying out their respective duties (Ansell, 56). This means that with a career in Design and technology, one can work from anywhere irrespective of their geographical conditions (Cave, 39). Besides, a Design and Technology professional can either decide to seek employment or venture into private practice owing to their vast array of competencies. Certainly, the career is quite inspirational and a number of facts and ideas played a key role in influencing my decision to take this career path (Barlex, 27). Fundamentally, I had an uncle who took the same career path and he used to encourage me by constantly telling me the benefits of pursuing a career in Design and Techno

Starbucks Coffee Company Essay Example | Topics and Well Written Essays - 1250 words

Starbucks Coffee Company - Essay Example Board of Directors. Starbucks Coffee Company was actually established by three of the partners in the year 1971 but at present there are in total ten members in the Starbucks’ Board of Directors (Starbucks Corporation, â€Å"Starbucks Corporation Board of Directors†). All the members of the Board of Directors possess a distinct background. The present Chief Executive Officer (CEO) Howard Schultz was the Chairman, Chief Executive Officer and President of Il Giornale Coffee Company. William Bradley was the managing director of an investment banking firm. The other director Mellody Hobson was also the president of an investment management firm. Apart from these three directors, the other seven directors also acquired respectable positions in the various management firms or other industries. Most of the board of directors is serving the coffee company since 1990 till the present day. The members of the board of directors have been ascertained to be reputed individuals in th e country. In the strategic management process, Howard Schultz occupies the key responsibility as a leader to direct different activities. It has been determined that the different members in board of directors were selected based on their merit and immense experience in the corporate world. Top Management. The board of directors was mainly hired from the other firms except the three founders of the company who were also acting as the directors. The three of the founders also the directors were the top management in the company and possessed immense knowledge and experience in the related field as they have long been serving the coffee company. The Chief Executive Officer of Starbucks, Howard Schultz is an American, born in the year 1953. Initially, he was serving as a sales trainee at Xerox. After three years, he had joined a Swedish company which sold coffee maker to the retailers in the market. In the meantime, he had visited Starbucks for selling the machine. After the visit, he was attracted to the company and wished to be a part of their long-term ventures. Thus, in 1982, he joined Starbucks as a director of retail operations and marketing (Wheelen and Hunger 471-475). VII. IMPLEMENTATION Starbucks Coffee Company had opted for international expansion and thus in 19 94 Starbucks International was formed. Initially, it had expanded its business in the Asian countries of the world such as Japan and China. The aim of their expansion was to create a desire to prefer the western brands among the consumers, to make certain strategies to compete effectively with their competitors and to gain the position of the highest coffee seller. In the past few years, it has also been viewed that the company is trying to expand its business in India. Initially, when the concerned officials had visited India they were unable to find the appropriate partner for entering the Indian market. During this period of time, India was going through a number of economic changes such as the reduction of the tariffs, along with dealing with the government policies as well as the liberalization of the foreign investment. These changes had also discouraged the officials of the Starbucks and the other facet that was noticed that the consumption of coffee was stable up to 50,000 t ons since 1996. There were other renowned coffee sellers

Matching Objectives to Instruction Essay Example | Topics and Well Written Essays - 250 words

Matching Objectives to Instruction - Essay Example For students to learn and remember a concept, they need to see multiple examples.They also need to gain generalization knowledge, and apply the concept via application activity, which is very close to the real world. The lecture and test approach requires students to memorize facts as the main objective (Beirne and Velsor, 2012). The strategy helps the instructor to evaluate the students’ understanding of the lesson content. It fits well in administering history classes and other classes that do not require other activities apart from memorizing facts. If the lecture objective is to make the learners to apply lecture content, then the teacher has several activities to do (Rawlins and Metzger, 2014). After presenting the facts through reading and lecturing, the instructor must show the learners how to make knowledge generalizations from background knowledge. The background knowledge presents itself from discussions, study problems or assignments and provides the students with opportunities to apply the learned principles in papers, laboratory experiments, case studies, examinations and small group projects. The application of the strategy is in teaching mathematics, sciences and other associated subjects that require content

How Does Amazon.Com Use Their Digital Essay Example | Topics and Well Written Essays - 2000 words

How Does Amazon.Com Use Their Digital - Essay Example The success of Amazon.com has been highly related to its strategy. Reference should be primarily made to the product to which Amazon.com was initially related: books. After reviewing the selling potentials of this product, Bezos came to the assumption that books had an important advantage compared to other products: they could attract the interest of buyers under the terms that ‘they are appropriately presented through the website’ (Schneider 2011, p.45). Also, due to their size, ‘books are difficult to be held in stock at high numbers’ (Schneider 2011, p.45). Even a quite large bookshop cannot stock more than 200,000 books (Schneider 2011). Being able to offer to customers a high range of choices in regard to the particular product has been a distinctive characteristic of Amazon.com (Schneider 2011). The potentials of Amazon.com to secure a high range of available titles for its customers have highly enhanced the firm’s performance. In other words, t he success of Amazon has been secured by focusing on the type and range of product offered to the public. In addition, the emphasis has been given on the marketing tool used for the promotion of this product to the market. When Amazon.com appeared, the Internet was considered as a quite promising tool of communication. For contemporary management theory, the behavior of organizations is considered as influenced by a variety of factors, related to different scientific fields, such as ‘psychology, economics, and sociology’.... The strategic choices of Bezos have been proved quite effective; within just 8 years the firm managed to achieve a profit of $5 billion (case study). By 2008, the firm’s customers reached the 76 million (case study). The firm’s practice to emphasize on ‘low price, convenience and variety of merchandise’ (case study) has highly contributed in the rapid growth of the organization. 2.2 Evaluation of Amazon’s strategy using the literature The success of Amazon.com has been highly related to its strategy. Reference should be primarily made to the product to which Amazon.com was initially related: books. After reviewing the selling potentials of this product, Bezos, came to the assumption that books had an important advantage compared to other products: they could attract the interest of buyers under the terms that ‘they are appropriately presented through the website’ (Schneider 2011, p.45). Also, due to their size, ‘books are difficult to be held in stock at high numbers’ (Schneider 2011, p.45). Even a quite large bookshop cannot stock more than 200,000 books (Schneider 2011). Being able to offer to customers a high range of choices in regard to the particular product has been a distinctive characteristic of Amazon.com (Schneider 2011). The potentials of Amazon.com to secure a high range of available titles for its customers have highly enhanced the firm’s performance (Schneider 2011). In other words, the success of Amazon has been secured by focusing on the type and range of product offered to the public. In addition, emphasis has been given on the marketing tool used for the promotion of this product to the market. When Amazon.com appeared, Internet was considered as a quite promising tool of communication. The value of Internet for

It's about IAS 17 and details see in document file Essay

IAS 17 Proposed Changes in the 2013 Exposure Draft - Essay Example The lessees are advised against recognizing assets as well as liabilities that result from operating leases. That concept has over time attracted the attracted significant request from users of financial statements as well as others to enhance changes that will ensure that lessees are upheld to recognize liabilities as well as assets in the financial statements. The IASB, as well as FASB, engaged in a joint project that focused on developing the relevant measures to ensure that lease assets will be recognized in the statement of financial position. The two bodies deliberated on revisiting the 2009 Exposure Draft that was issued in 2009 to seek preliminary views and FASB accounting Standards update issued in August 2010 to enhance forming an Exposure Draft in 2013 (Ellis, 2014). The proposed Exposure Draft of 2013 will only affect entities that engage or are engaged in lease irrespective of some specified scope exemptions. The Exposure Draft 2013 would supersede IAS 17 leases in IFRS. The primary principle of the proposed requirements is that a company will ensure recognition of assets as well as liabilities that result from lease agreements. The proposed requirements serve as a way of improving the existing lease requirement that fails to require lease assets together with liabilities to be recognized by the majority of lessees. The principle will, therefore, require lessees to ensure recognition of assets as well as liabilities for leases that possess a maximum possible term of more than one financial year (EFRAG, 2013. A lessee will have to recognize the lease liability as well as the underlying asset for the lease term. In recognition, measurement as well as the presentation of an entity’s expenses.

Why did the reds win the Civil War Essay Example for Free

Why did the reds win the Civil War Essay The Reds won the Civil War for many reasons, but some are specifically more important than others. Some factors such as†¦ Geographical advantage   Strong leadership Unity and organisation   Support Paragraph 1 (Short) (6 mins) The geographical advantage of the Reds helped them with the Civil war because it provided them with military benefits that the Whites did not have. Geographical Factors   Reds: Held central area of Western Russia – Moscow + Petrograd = population for conscription   Whites: Scattered amongst Russia. Reds: Controlled large industrial centers produce war supplies deliver them efficiently amongst soldiers Whites: Communication difficult, hundreds of miles separated different armies – created disunity   How did this help them win? Because they had abundant resources while the Whites did not†¦ Paragraph 2 (Short) (6mins) The Reds won the Civil war partly because of their enemy’s disunity and lack of organisation. The Reds could therefore exploit the White’s major weaknesses in order to secure a victory. Unity + Organisation   Whites: Some members were liberal and just satisfied with the returning of the Provisional government   Whites: The generals distrusted each other Didn’t communicate with each other about attacks bases already far apart Reds: Conscription was introduced and Trotsky hand picked loyal soldiers army increased from 100,000 to 500,000 by August 1918   Reds: January 1920 5 million men enlisted former Tsarist officers held with blackmail   The result? The Campaigns of Kolchak and Deniken contributed to the Red’s victory (lack of troops, unorganised) Production of weapons war communism Paragraph 3 (6 mins) Without a clear sense of direction and leadership the Reds would have had difficulty in their success. Lenin and Trotsky were robust leaders who led the Red’s to their victory. Leadership   Trotsky traveled 65,000 miles throughout Russia assisting front line to encourage Red soldiers.   Lenin clear and structured leadership Whites: Had multiple leaders who set bad examples by drinking. Whites: Aided landlords to gain lost land (lost support from peasants)   Whites: Once peasants conscripted   Brutal discipline = want democracy more   The result? : Better army and more support = victory Paragraph 4 (6mins) Another factor that meant the Reds won the Civil war was because of the amount support they gained in Russia. Support   Reds: gained support through repression and reform Repression: Cheka, grain requisitioning,   Reform: Propaganda, VIK peasant representation of villages in dealings with central government. Briefly mention former Tsarist commanders (blackmail)   Whites: Had foreign aid from France, Japan and USA. Was half hearted and some troops sympathised with Reds. Whites: Peasant soldiers often switched sides, as they were not happy with White’s declaration of returning land back to landlords.   The result? : Had committed troops who fought for them, ensuing in a better army. Conclusion (10) To conclude, I think the main reason as to why the Reds won the Civil war was because of their enemy’s disunity and their lack of support. The White’s became infamous for their terror they brought. Estimated 100,000 – 150,000 Jews in Ukraine and southern Russia were killed in pogroms.   Result? Loss of support   Reds managed to gain 48,000-experienced Tsarist officers   Compare with Whites and their unorganised efforts Effect of good army?   Reds: Ensure loyalty of officers and men, political commissars attached to provide ‘political education’. Whites? Less loyalty   Disunity?   Campaign example Why did the Reds win the Civil War in 1920 Essay Plan.

Methodology: Impact of Stigma on Offender Employment

Methodology: Impact of Stigma on Offender Employment Design An experimental design will be used in this research. This study will use a mixed design, with disclosed criminal convictions (group 1, 2, or 3) as the between subjects variable, and judgments of job applicant as the within subjects variable. The independent variable in this research will be the disclosure of criminal convictions. The dependant variables will be the attitude towards the job applicant, and the participants political ideology. Procedure 60 participants were collected overall, with 20 participants for each experimental group. These participants were gathered via my personal social media and the universitys SONA system. These participants were all over the age of 18, in order to give consent, but their age and gender was not tested. Once I had established my participants, I collected their email addresses and then emailed them a copy of my participant information sheet, so that they had a few days before the research took place to read over what is expected of them and decide that they definitely wanted to take part. The data was gathered over a three-week period, until all participants had taken part. Before the experiment took place, the participant was presented with a consent form for them to provide informed, written consent to take part in the experiment. They were informed that they could leave at any time if they no longer want to take part in the research. All research took place in a quiet, but public room, such as the labs in P5 and the study rooms in the library. The participants all sat the experiment individually to ensure their decisions were not influenced by others, but also to make availability easier for the participants. They were randomly allocated into 1 of 3 groups using an online generator. In all groups participants were asked to pretend they were employers in a hotel that is looking to hire. The participants were given a job description that listed the duties required and the skills the applicant needed to possess to get the job. They were then given one of 3 CVs, all included the same personal and working information, however, in group 1, no criminal convictions of any kind were included. In group 2 the applicant disclosed a previous minor criminal conviction (a record for possession of a class C drug, an offence that would not lead to incarceration). In group 3 the application disclosed a major criminal conviction which they have been previously incarcerated for (poss ession of a firearm with criminal intent). The participants were then given an 11-point questionnaire that asked them to rate the extent to which which they believe the applicant fit certain requirements of the job description. Next, participants were given the 20-point Ideological Consistency Scale (Pew Research Centre) to measure their political ideologies, to assess whether the participants political ideology effects their likelihood to employ the person. This is based on the hypothesis that liberal minded people are more open minded, and so would be more likely to believe that people can change, and so may be more likely to give someone a second chance. Once the experiment was finished, participants were given a debrief sheet, explaining that the purpose of this research is to see if the participants preconceived stereotypes of ex-offenders effected their perception of the applicants personal and working abilities. Participants were also informed that they can withdraw all their data from the experiment at any point, up until 16/03/2017. Analysis The data was analysed using Microsoft Excel and Statistical Package for the Social Sciences (SPSS). A one-way ANOVA was used to analyse the data gathered from the judgements questionnaire in order to compare the mean attitude towards the applicant and the standard deviation across the 3 groups. The data gathered from the ideology scale was analysed against the data from the judgements questionnaire using a ANCOVA in order to assess the impact of the participants ideology on their likelihood to employ the person. Materials An example job description, a 20-point Ideological Consistency Scale (Pew Research Centre) to measure their political ideologies. The questions of the ideological scale are split into 10 conservative position questions and 10 liberal positions questions. Individual questions are scored as +1 for a conservative response, -1 for a liberal response and 0 for an unsure response. Scores on the full-scale range from -10 (liberal response to all questions) to +10 (conservative response to all questions). An 11-point questionnaire to measure participants judgements of the job applicant. Each question on this scale receives a score out of 10, which is the number the participants indicate on the Likert scale. Question 1 is not scored, the answer of yes or no is simply to compare the participants initial judgement of the applicant. The overall score for this scale will be out of 100. Participants The participants were all over the age of 18 to give informed consent, and of any gender. A lot of participants were students, which made the participant selection process easier, but students were not necessary. Participants were not required to have any specific characteristics in order to take part in the study.ÂÂ   They were selected via social media and the universitys SONA system. While I did not foresee many potential risks to participants, it is possible that they may have become distressed, embarrassed, or fatigued while taking part in this experiment. To deal with these potential risks, participants were informed that they can stop the experiment at any moment and leave, or they can continue later if they would like. The participants were also informed that they could go and talk to someone at student support if they need to, and would be provided with links to online help, such as the SANE organisation, if requested. No deception was involved in this research. The full aims of the experiment were not disclosed to the participants, for example, they were not informed that it is their willingness to employ the applicants with criminal convictions that is being analysed, but the basic facts of the experiment were not lied about. All research took place in daylight hours, in a safe, public space. Participants were informed that they could withdraw from the experiment at any point. The participant information sheet, the debrief sheet, and myself before the experiment took place explained that participants can withdraw from the experiment at any time, during the experiment, they just needed to explain that they do not wish to continue anymore. My email address was included on the participant information sheet and the debrief sheet, so if participants wanted to withdraw from the research after the experiment has taken place, then they could send an email and then be withdrawn. Participants consent forms were coded, and these codes were placed on their questionnaires and data, in order to ensure that all data is completely anonymised. The consent forms were then locked away to ensure that I was the only person who could view the identity of the participants. Any data that included anything that could lead to a participant being recognised was removed. All physical data was kept inside a locked draw that only I have the key to, to ensure that nobody can access it, and all electronic data was encrypted with a password that only I know, so it cant be accessed. All data will remain this way until after dissertation marks are received, at which point the physical data will be shredded and the electronic data will be electronically shredded. Discussion Previous research by Maruna King, (2004) suggests that the success of ex-offenders re-entry into society is dictated by the attitudes of the community around them. Within this research, only 41% of participants in the ex-offender group stated that they would employ the candidate, compared to 81% in the control group. Because of this, it could be proposed that the main difficultly ex-offenders face upon re-entry into non-institutionalised society is battling preconceived stereotypes that society places upon them. In the criminal record group, 57% of participants said that they would employ the candidate, which, while being a significant increase when compared to the ex-offender group, still suggests a strong prejudice towards those who have had issues with the criminal justice system. This is a concern, because, while neither offence in the two conviction groups suggest that the candidate would have trouble dealing with customers and staff, both groups showed a significantly lower me an score in every question presented to participants. The findings from this research are consistent with previous research that suggests society does stereotype ex-offenders, which may lead to stigmatisation in terms of employment desirability. For example, when asked how suitable do you think the candidate would be at maintain high professionalism with customers and staff? participants in the control group exerted a mean response of 8.4, however, when asked the same question, participants in the group were the candidate revealed a previous incarceration had a mean response of only 4.4, potentially signifying that the participants believed by having been to prison, it would be unlikely that the candidate would be proficient. This supports Fehn (2004)s theory that ex-offenders are normally stereotyped as being educationally illiterate and socially inadequate, and are therefore unable to act in a professional manner within a workplace. However, Goffman (1987) emphasised that while a status may be stigmatising in one social context, it can also be worn as a badge of honour in another, and those who can relate to the stigma are likely to serve as sympathetic others. In the context of this research, it could be suggested that some participants in the criminal record and ex-offender groups would in fact be more likely to give higher ratings to the candidate because they can sympathise with the situation. Goffman (1963) acknowledges that those with personal familiarity to ex-offenders and individuals who have criminal records are more likely to see past the stereotypes surrounding them, and therefore reduce the stigmatising attitudes towards this group. Furthermore, Braithwaite (1989) notes that reintegration is more likely to be successful when ex-offenders are viewed as members of the in-group that have made mistakes, rather than dangerous, incurably criminal individuals. Although the results from the coefficient analysis of variance where inconclusive, it is evident that the ideology of the participants did have an impact on the participants total score. Table 3 shows the comparison of the mean total score for those who were reported as consistently conservative compared to consistently liberal. For the control group, the difference in mean total score is not noteworthy, however, in both the criminal record group, and the ex-offender group, the mean total score is significantly lower for those who were consistently conservative than those who were consistently liberal, suggesting that those with consistently liberal core political values were more likely to remove the stigma surrounding the applicant, and instead simply assess how suitable the candidate was for the job at hand. Unnever and Cullen (2007) suggest that people with conservative core values hold more disciplinary attitudes towards those who violate the law, and are more opposed to the rei ntegration of ex-offenders into society. Chiricos, Welch, Gertz (2004) found that those with conservative core political values are more likely to uphold the stigmatisation of ex-offenders and criminals, primarily due to the belief that criminals are unlikely to ever be fully rehabilitated, and so will always be criminal.ÂÂ   However, because those with liberal core values are more likely to blame society for crime (Welch, 2007), it is proposed that they will be more compassionate when dealing with ex-offenders and individuals with criminal records. This theory is maintained by Demski McGlynn (1999) who found that those who identified with liberal values were more willing than others to rent an apartment near a halfway house for recent parolees. Chiricos et al., (2007) demonstrates how an individuals confidence in the criminal justice system can lead to stigmatisation. They suggest that those who trust the legitimacy of the criminal justice system should therefore place conviction in the justice systems evaluation of a persons guilt and moral character. This leads to stigmatisation because imprisonment is one of the most severe forms of punishment available in the UK, and so is seen as a thorough basis for condemnation. Therefore, it can be proposed that those who trust the justice system would be unlikely to have confidence in employment abilities of an ex-offender, or even someone with a criminal record, because it is probable that they believe that people who have served time must have the lowest form of moral character. However, perceptions of over leniency in terms of treatment of offenders may also lead to increased stigmatisation. The ideology consistency scale given to participants in my research contained four quest ions about the government, and those who chose the negative responses were classified as conservative. Unnever, Cullen, Fisher (2007) found that white people, conservatives, and victims of crime are more likely to challenge the police and courts for being too lenient on criminals. These groups of people often believe that most criminals have not paid penance for their crimes, and so deserve stigmatisation upon release, particularly within the employment sector, as they believe criminals should not be given employment over law abiding citizens (Messner, Baumer, Rosenfeld, 2006). Due to the continuously increasing numbers of imprisonment rates, the support of sometimes violent stigmatisation of ex-offenders, and the rising rates of recidivism, is its more important than ever to combat the stigmatisation of ex-offenders, particularly in the employment sector. Ward Brown (2004) established that offenders who experienced meaningful relationships with prison staff were more likely to experience effective reintroduction into society. Similarly, Dowden Andrews (2004) discovered a correlation between recidivism and interpersonal relationships between offenders and staff. While In no way does correlation equal causation, it is evident that contact with individuals from noninstitutionalised society while incarcerated can benefit offenders upon release. This concept is supported by Wagner, Tropp Pettigrew (2009), who demonstrated that contact between opposing groups is a powerful and effective way of reducing prejudice. However, my results indicated that participant s did not feel it was appropriate for an ex-offender, even somebody who is highly qualified for the job at hand, to be around both staff and customers, suggesting that they may not have had previous experience with somebody who has been to prison. A drawback to this research is that participants were never asked whether they had experienced contact with an ex-offender, doing so may have led to a greater understanding as to why the participants stigmatised the candidate in the criminal record and ex-offender groups. However, the impact of contact with ex-offenders may have led to increased stigmatisation, depending on whether the experience was positive or negative. For example, Wikstrom Loeber (2000) explains that in disadvantaged communities with high imprisonment rates, an individual may develop more lenient views of ex-offenders, because in areas like this, incarceration is not an abstract concept, but something that is experienced frequently. Living in these communities means that an individual is less likely to stigmatise ex-offenders, and so it is probable that ex-offenders would not experience negative employment desirability. However, because communities like this are usually disadvantaged and poverty stricken, findin g employment, even as a law-abiding citizen, may be increasingly difficult (Wikstrom Tafel, 2003). Though the theory that contact with ex-offenders may significantly reduce stigmatising behaviour, a major disadvantage of this is that many members of the public may avoid any possible interactions with ex-offenders. My results indicated that participants feel that customers would feel uncomfortable being around somebody who has been to prison. Crisp Turner (2009) developed imagined contact, produced to be an extension of the classical contact paradigm, in order to show valuable aspects of contact with offenders, but without provoking anxious emotions within participants. This may be useful in helping decrease the stigma surrounding ex-offenders, because imaging contact may enable society to disregard fear, which may lead to increased contact, and potentially understanding the individuals behind the stereotype, which could then decrease the negative employment desirability surrounding ex-offenders. Unnever Cullen (2009) suggested that a further way to reduce the stigmatisation of e x-offenders is to demonstrate empathy towards them. Johnson et al., (2009) discovered that when participants were encouraged to feel empathy they recommended less severe punishments to a hypothetical defendant, and were more likely to examine and empathise with reasoning behind criminal acts. Because of this, it could be proposed that if the public were able to understand why offenders committed criminal acts, particularly those from poor and disadvantaged neighbourhoods, they may be more likely to be empathetic, and therefore disregard the stigmatism of the violent and incurable criminal, which may lead to more employers being willing to hire ex-offenders. Obviously, not everyone feels like the stigma towards those who have been incarcerated should be reduced. As highlighted earlier, many believe that using stigma as a general criminality deterrent is effective at preventing further crime. Undoubtedly, this may be the case for some communities. However, for people living in high crime areas, usually poor, disadvantaged, and essentially forgotten by the government, crime is only ever increasing. It is in areas like this that offending, and then subsequently reoffending is highest, meaning that a large minority of people at some point will have been to prison, or at least will have a criminal record. It has been acknowledged numerous times that employment is one of the best ways to decrease reoffending rates, but generally, society holds such a negative view of ex-offenders that employment is rare. Perhaps, if the stigma against individuals who have committed crimes is reduced, finding employment as an ex-offender may be easier, and so r eintegration could be more successful. In hindsight, even my using the term ex-offender could be seen as pre-conceived stigmatisation. Classing someone as an ex-offender creates a disastrous cycle where in which the individual being referred to is unable to move on from their past transgressions, which could be detrimental to rehabilitation. Also, it is unclear at which point a person progresses from offender to ex-offender. The majority of the literature I reviewed when researching this topic refers to individuals who have previously been incarcerated as offenders, without identifying whether these people did in fact reoffend, and if not, why they are still being referred to as an offender. It is issues like this that represent the ever-present stigma ex-offenders face; while they may have served their sentence, and been successfully rehabilitated back into society, they will always be associated with the word offender and whatever negative connotations and stigma that brings with it. A limitation of this research is that the sample size of 60 is incredibly small compared to the population of the UK. The small sample size may have contributed to the non-significant relationship between ideology and stigmatisation of ex-offenders. An issue with small samples is that they do not usually have the ability to represent the larger population, and therefore are not generalizable. However, gaining a sample size of even 60 was difficult in the time allotted for data collection, and so future research should attempt to replicate the findings, but with a larger sample size, in order to test for accuracy. A further limitation is that I did not ask for reasoning behind answers, and so, although it is evident that stigmatisation did occur, I cannot provide the specific reasons why participants stigmatised the candidate in the criminal record and ex-offender groups. This limits findings to understanding the influence of stigmatisation on ex-offenders employment desirability, and does not allow investigation into how reducing stigmatisation effects employment. The purpose of this research was to establish whether the stigmatisation of ex-offenders effects their ability to gain employment, and whether peoples political ideology has an impact on their attitudes towards ex-offenders. Overall, this research has found that preconceived stigmatisation did effect the participants attitude towards the applicant with a criminal record, and the applicant who had previously been incarcerated. Within this research there was a significant decrease in the mean scores for each individual question asked about the applicant, and the overall judgement of the applicant in the criminal record and ex-offender group, when compared to the control group, representing stigmatisation towards individuals who hold criminal records, and those who are ex-offenders. This study also analysed whether the participants political ideologies effected their attitudes towards the applicant with the criminal record and the ex-offender applicant, and while the analysis of covaria nce was not significant, the data showed that in both the criminal record group, and the ex-offender group, the mean total score is significantly lower for those who were consistently conservative than those who were consistently liberal, suggesting that those with consistently liberal core political values were more likely to remove the stigma surrounding the applicant, and instead simply assess how suitable the candidate was for the job at hand. It is evident from both this research, and all the previous research conducted beforehand, that stigmatisation is detrimental to ex-offenders trying to find employment. To rectify this, it could be suggested that future employers allow ex-offenders and individuals holding criminal records a watershed period, where in which they do not have to disclose their previous convictions until a set period of time has passed after employment. It should be stressed that this is only suggested for minor offences, in order to give employers and other staff members a period of time to get to know the individual before knowing of their previous offence. Hopefully, this could mean, as suggested by Hirschfield Piquero (2010), that people in the individuals working environment would be able to witness first hand that not all ex-offenders conform to the abstract stereotype unwillingly placed upon then, and so may be more likely to employ ex-offenders and disregard stigma, when compared to employers wh o have had no contact with anybody that has been incarcerated.

The Ten Commandments Should be Allowed In Schools Essay -- education, r

In today’s society of â€Å"political correctness†, many issues arise between the interests of the many interests groups of the nation. One of the issues that continue to generate heated debate is the displaying of the Ten Commandments and other religious documents on government property. The issue of the Ten Commandments is one of the most heated discussions on the local and national stage today. Although there are many groups and individuals opposed to the displaying of the Ten Commandments and other religious objects as a violation against the separation of church and state and against the 1st amendment which is freedom of religion, the question asked by many others is; should religious objects including the Ten Commandments be permissible on government property? The answer is, yes, it should be. By law, according to history, and first amendment rights not being violated, the simple legality of the issue is without a doubt, a non-debatable issue. It is a permissible act of having the Ten Commandments and other religious objects on government property as long as it does not prove hostile or offensive toward anyone. It is not an endorsement of the Ten Commandments as being an â€Å"authoritative† document but rather an acceptance of the document as being a â€Å"guide map† or basis for many of the laws and issues in our present day society. The displaying of the Commandments is not intended as hostile but rather an acknowledgement that these requests, especially the last five Commandments, should be followed and used as a basis for law between men. With this issue being debated locally and nationally, and with the legal action that has been taken, it is still a very hotly debated issue, even after Supreme Court rulings and interpret... ...ber 1994. The Atlantic. 9 March 2011 . Sieff, Kevin. "washingtonpost.com." 11 February 2011. The Washington Post. 8 March 2011 . States, Supreme Court of the United. "supremecourt.gov." 25 February 2009. supremecourt.gov/opinions. 6 March 2011 . Sturgeon, Jeff. "2nd Va. school mired in Ten Commandments flap." 26 February 2011. Pilot Online.com. 7 March 2011 . Zimmerman, Mark. "Symbol of Enduring Freedom." March 2010. Columbia Magazine. 8 March 2011 .

How Normal Has Changed Since September 11 Essay -- September 11 Terror

     Ã‚  Ã‚  The terrorist attacks on September 11th affected more than the lives of those in the targeted cities. Nearly every American has felt the rippling effect in both subtle and obvious ways. Everything from what people are eating to the toys that are in demand has been altered because people's perceptions have changed. Though this country has always been considered a patriotic nation, its true colors had not shown in recent history until this tragedy. Now it is apparent that its colors are red, white, and blue. Despite the many negative aspects of the terrorist attacks, some of the changes that have happened in America have been for the better. How ironic for our enemies it would be if their acts meant for evil resulted in an overall improvement in our country. Soon after the attacks, President Bush urged the public to return to normalcy. However, I echo the feelings behind a slogan for the WordsCanHeal campaign: "Why go back to normal when you can be better than normal?" ("Priorities").    Fear is a powerful motivator. Threats of more attacks, anthrax, presumed unsafe flying, and a slipping economy have been keeping people home more than in recent years. Across the nation, business travel has decreased by nearly 30% since this time last year (Guzman and Higgins 1). In result, more parents are at home with their families this season. When they are together, quality communication is more likely, and uniting together as a family can begin. As I believe that the strength of a nation lies in the strength of its families, situations that encourage family communication may benefit the nation as a whole, far above what the traveling industry may suffer. However, the transition of having Mom or Dad at home more often has not bee... ...urselves through our apathy and refusal to think. Works Cited Agins, Teri. "Markdown Malaise." The Wall Street Journal 7 Dec. 2001: B1+. Bhatia, Pooja. "Big Hit in Toyland: Shrinky Dinks, a '70s Throwback." The Wall Street Journal 21 Nov. 2001: B1+. Boodman, Sandra G. "In Troubled Times, Kids Go for the Feary Tales." Washington Post. 3 Dec. 2001. Erickson, Amy K. "There's a War On-Have an Oreo." Washington Post 20 Nov. 2001: HE03. Goodstein, Laurie. "As Attacks' Impact Recedes, a Return to Religion as Usual." New York Times 26 Nov. 2001. Guzman, Rafer, and Michelle Higgins. "Stay-at-Home Stress." The Wall Street Journal 30 Nov. 2001: W1+. Levere, Jane L. "Survey Offers Insights on College Students' Mood Since Sept. 11." New York Times 27 Nov. 2001. "Priorities Changing After Sept. 11." New York Times 3 Dec. 2001.

Poverty and Low Birth Weights :: Essays on Poverty

Abstract   Ã‚  Ã‚  Ã‚  Ã‚  There exist some evidence that poverty can result in low birth weight in newborn infants. On Prince Edward Island, low birth weights are currently the lowest as compared to the national average according to Statistics Canada. However, the link that exist between poverty and low birth weights leaves unanswered questions as to what can be done to reduce these low birth weights in newborn infants. The effect of Poverty on Low Birth Weight in Newborns   Ã‚  Ã‚  Ã‚  Ã‚  Receiving good prenatal care is extremely important for an expecting mother. The prenatal period has a great impact on the newborn’s health. Low birth weight is a problem among a certain population of newborns. It is crucial to understand the conditions in poverty and its affects on birth weights in infants. â€Å"Several communities characteristics associated with poverty are negatively associated with low birth weight† (Roberts, 1997)   Ã‚  Ã‚  Ã‚  Ã‚  In 2000, the PEI Reproductive Care Program, reported that Prince Edward Island had the lowest percentage of low birth weight infant at 4.3% compared to the National average of 5.6%, however there is much taught about the link of low birth weight and poverty.   Ã‚  Ã‚  Ã‚  Ã‚  According to the 2000 study, mothers living in West Prince were the youngest with the highest percentage of birth rates (11.3%), these being women under 20 years of age. This can also be a contributor since young women may not have finished school or post secondary educational therefore resulting in jobs with less income. This weighs on their health care and ability to have the best prenatal care available.   Ã‚  Ã‚  Ã‚  Ã‚  Diet factors can also play a major factor in low birth weights. In a study done comparing Latina women both in the United States and Mexico, showed that Latino women born in Mexico consumed diets richer in calcium, folate, protein, vitamin A and ascorbic acid than Latino women born in the United States who instead ate diets consisting more of high fat foods, sugars and cereals, associated with low birth weights (Pearl, 2001). Poverty decreases the chances of expecting mothers to be able to buy all the proper foods available in order to eat a properly balanced diet high in all the nutrients needed for her and her baby. This paper describes the incidence of low birth weight in newborns in relation to the level of poverty among women on Prince Edward Island. Method Apparatus and/or Materials   Ã‚  Ã‚  Ã‚  Ã‚  The source of the data was found using Statistics Canada database CANSIM. Incidence of low birth weight from 1991 to 2001 on Prince Edward Island, v5939746 Table 102-4005.

Nature of Financial Management

Chapter 3 – NATURE OF FINANCIAL MANAGEMENT What is finance Finance can be defined as he art and science of managing money. Virtually all individuals and organizations earn or raise money and spend or invest money. Finance is concerned with the process, institutions, markets and instruments involved in the transfer of money among individuals, business and governments. Nature of Financial Management Financial Management as an academic discipline has undergone fundamental changes as regard its scope and coverage.In the earlier years, it was treated synonymously with the raising of funds. In the later years, its broader scope, included in addition to procurement of funds, efficient use of resources. Scope of Financial Management Financial is broadly concerned with the acquisition and use of funds by a business firm. The important tasks of financial management, as related to the above, may be categorized as follows: – A. Financial Analysis, Planning and Control †¢ Analy sis of financial condition and preference †¢ Profit Planning †¢ Financial forecasting †¢ Financial Control B.Investing †¢ Management of current assets (cash, marketable securities, receivables and inventories) †¢ Capital Budgeting (identification, selection and implementation of capital projects) †¢ Managing of mergers, reorganizations and divestments C. Financing †¢ Identification of sources of finance and determination of financing mix †¢ Cultivating sources of funds and raising funds †¢ Allocation of profits between dividends and retained earnings Important Topics in Financial Management Table 1. 1 Balance Sheet and Topics in Financial Management Share CapitalEquityCapital Structure and Cost of Capital Preference Reserves and Surplus Debentures Unsecured Loan Current Liabilities & ProvisionsWorking Capital Trade CreditorsFinancing Policy Provisions Fixed Assets (Net)Capital Budgeting Gross Block Less Depreciation InvestmentSecurity Ana lysis Current Assets, Loans and Advances Cash and bank balancesCash Management ReceivablesReceivables Management InventoriesInventory Policy Loans and Advances Miscellaneous Expenditure and Losses Table 1. 2 Income statement and Topics in Financial Management Net SalesRevenue risk Cost of goods SoldMaterials and stocks Wages and Salaries Other Manufacturing Expenses Gross ProfitGross profit margin Operating Expenses Selling and Administration Expenses DepreciationDepreciation Policy Operating Profit Non operating surplus / deficit Earnings before interest and taxBusiness risk InterestFinancial risk Profit before tax TaxTax planning Profit after taxReturn on equity DividendsDividend policy Retained Earnings Goals / Objectives of Financial Management- Traditional Approach – It has been traditionally been argued that the objective of a company is to earn profit.This means that the finance manager has to make decision in a manner that the profit is maximised. Each alternative, th erefore, is to be seen as to whether or not it gives maximum profit. Profit maximization objective gives rise to a number of problems as below: – i) Profit maximization concept should be considered in relation to risks involved. There is a direct relationship between risk and profit. Many risky propositions yield high profit. Higher the risk, higher is the possibility of profits. If profit maximization is the only goal, then risk factor is altogether ignored. i) Profit maximization, as an objective does not take into account time pattern of return. Proposal A may give a higher amount of profits compared to proposal B, yet if the returns begin to flow say 10 years later, proposal B may be preferred which may have lower overall profits but the returns flow is more early and quick. iii) Profit maximization, as an objective is too narrow. It fails to take into account the social considerations as also the obligations to various interests of workers, consumers, society as well as ethical trade practices.Further, most business leaders believe that adoption of ethical standards strengthen their competitive positions. iv) Profits do not necessarily result in cash flows available to the stockholder. Owners receive cash flow in the form of either cash dividends paid to them or proceeds from selling their shares for a higher price than paid initially. Modern Approach – The alternative to profit maximization is wealth maximization. This is also known as Value maximization or Net Present Worth maximization. Value is represented by the market price of the company’s equity shares.Prices in the share market at a given point of time, are the result of many factors like general economic outlook, particular outlook if the companies under consideration, technical factors and even mass psychology. However taken on a long-term basis, the share market prices of a company’s shares do reflect the value, which the various parties put on a company. Normally, the value is a function of two factors (i) The likely rate of earnings per share of a company (EPS) and (ii) The capitalization rateEPS are calculated by dividing the periods total earnings available for the firm’s common shares by the number of shares of common shares outstanding. The likely rate of earnings per share (EPS) depends on the assessment as to how profitably a company is going to operate in the future. The capitalisation rate reflects the liking of the investors for a company. If the company earns a higher rate of earning per share through risky operations or risky financing pattern, the investors will not look upon its shares with favour. To that extent, the market value of the shares of such a company will be low.If a company invests its fund in risky ventures, the investors will put in their money if they get higher return as compared to that from a low risk share. The market value of a firm is a function of the earning per share and the capitalisation rate. S uppose the Earning per share are expected to be Rs. 7 for a share, and the capitalisation rate expected by the shareholder is 20 per cent, the market value of the share is likely to be 7 7 x 100 —— = ———- = Rs. 5 20% 20 This is so because at this price, the investors have an earning of 20%, something they expect from a company with this degree of risk. The important issues relating to maximizing share prices are Economic Value Added (EVA) and the focus on stakeholders. Economic Value Added (EVA) is a popular measure used by many firms to determine whether an investment – proposed or existing – contribute positively to the owner’s wealth. EVA is calculated by subtracting, the cost of funds used to finance or investment from its after-tax-operations profits.Investments with positive EVA increase shareholder value as those with negative EVA reduce shareholders value. For example, the EVA of an investment with after tax operation s profits of Rs. 510,000 and associated financing costs of Rs. 475,000 would be Rs. 35,000 (i. e. Rs. 410,000 – 375,000) Because this EVA is positive, the investment is expected to increase owner wealth and is therefore acceptable. What about Stakeholders? Stakeholders are group such as employees, customers, suppliers, creditors, owners and others who have a direct economic link to the firm.A firm with a stakeholder focus consciously avoids actions that would prove detrimental to stakeholders. The goal is not to maximize stakeholder well being but to preserve it. It is expected to provide long run benefit to shareholders by maintaining positive stakeholder relationships. Such relationship should minimize stakeholder turnover, conflicts and litigation. Clearly, the firm can better achieve its goal of shareholder wealth maximization by maintaining cooperation with other stakeholders rather than having conflict with them. The Role of ethics – Ethics is standards of conduc t or moral judgment.Today the business community in general and the financial community in particular are developing and enforcing ethical standards, purpose being to motivate business and market participants to adhere to both the letter and the spirit of laws and regulations concerned with business and professional practice. An effective ethics program is believed to enhance corporate value. An ethics program can reduce potential litigation and judgment costs, maintain a positive corporate image, and build shareholders confidence, and gain the loyalty, commitment and respect of the firms stakeholders.Such actions, by maintaining and enhancing cash flow and reducing perceived risk, can positively affect the firm’s share prices. Ethical behaviour is therefore viewed as necessary for achieving the firm’s goal of owner wealth maximization. Place of Finance function in the organization structure: – The finance function is almost the same in most enterprises. The det ails may differ but the important features are universal in nature. The finance function occupies such a major place that it cannot be the sole responsibility of the executive.The important aspects of the finance function have to be carried on by the top management i. e. the Managing Director and the Board of Directors. It is the Board of Directors, which makes all the material final decisions involving finance. Financial management in many ways is an integral part of the jobs of managers who are involved in planning, allocation of resources and control. The responsibilities for financial management are disposed throughout the organization. For example: †¢ The engineer, who proposes a new plant, shapes the investment policy of the firm. The marketing analyst provides inputs in the process of forecasting and planning. †¢ The purchase manager influences the level of investment in inventories. †¢ The sales manager has a say in the determination of receivable policy. â₠¬ ¢ Departmental managers, in general, are important links in the financial control system of the firm. The chief financial officer (CFO) is basically to assist the top management. He has an important role to contribute to good decision making on issues, which involve all the functional areas of the business. He must clearly bring out financial implications of all decisions and make them understood.CFO (his designation vary from company to company) works directly under the President or the Managing Director of the company. Besides routine work he keeps the Board of Directors informed about all the phases of business activity, including economic, social and political developments affecting the business behaviour. He also furnishes information about the financial status of the company by reviewing from time to time. The CFO may have different officers under him to carry out his functions. Broadly, the functions are divided into two parts. (i) Treasury function (ii) Control functionTre asury function (headed by financial manager) is commonly responsible for handling financial activities, such as financial planning and fund raising, making capital expenditures decisions, managing cash, managing credit activities, managing the pension fund and managing foreign exchange. The control function (headed by Chief Accountant / Financial Controller) typically handles the accounting activities such as corporate accounting, tax management, financial accounting and cost accounting. The treasurer’s focus tends to be more external, the controllers focus more internal: – BOARD OF DIRECTORSManaging Director/President V. P ProductionV. P FinanceV. P Sales Treasurer Controller Credit Cash Banking PortfolioCorporate Taxes Internal Budgeting Management Management Relation ManagementGeneral Audit Accounting & Cost Accounting Fig 1. 1 Organization chart of finance function Relationship of field of finance with economics – The field of finance is closely related to e conomics. Financial managers must understand the economic framework and be alert to the consequences of varying levels of economic activity and changes in economic policy.They must be able to use economic theories as guidance for efficient business operation. Examples include supply-demand analysis, profit-maximizing strategies, and price theory. The primary economic principle used in managerial function is marginal analysis, the principle that financial decisions should be made and actions taken only when the added benefits exceed the added costs. Nearly all-financial decisions ultimately come down to an assessment of their marginal benefits and marginal costs. Relationship to Accounting – The firm’s finance (treasurer) and accounting (controller) activities are closely related and generally overlap.Normally managerial finance and accounting are not often easily distinguishable. In small firms the Controller often carries out the finance function and in large firms ma ny accountants are also involved in various finance activities. There are two basic differences between finance and accounting: – i) Emphasis on cash flows: – The accountant’s primary function is to develop and report data for measuring the performance of the firm, assuming its financial position and paying taxes using certain standardized and generally accepted principles. The accountant prepares financial statements based on accrual basis.The financial manager places primary emphasis on cash flows, the inflow and outflow of cash. ii) Relating to decision-making: – Accountants devote most of their operation to the collection and presentation of financial data. The primary activities of the financial manager in addition to ongoing involvement in financial analysis and planning are making investment decisions and making financing decisions. Investment decisions determine both the mix and the type of assets held by the firm. Financing decisions determine bo th the mix and the type of financing used by the firm.However the decisions are actually made on the basis of cash flow effects on the overall value of the firm. Interface with other Functions – Finance is defined as the lifeblood of an organization. It is a common thread, which binds all the organizational functions as each function when carried out creates financial implications. The interface between finance and other functions can be described as follows: – Manufacturing Finance – i) Manufacturing function necessitates a large investment. Productive use of resources ensures a cost advantage for the firm. i) Optimum investment in inventories improves profit margin. iii) Many parameters of the production cost having effect on production cost are possible to control through internal management thus improving profits. iv) Important production decisions like make or buy can be taken only after financial implications have been considered. Marketing Finance  œ i) Many aspects of marketing management have financial implications e. g. hold inventories to provide off the shelf service to customers and thus increase sales; extension of credit facility to customers to increase sales. i) Marketing strategies to increase sales have additional cost impact, which needs to be weighed carefully against incremental revenue. Personnel Finance – In the global competitive scenario business firms are moving to leaner and flat organizations. Investments in Human Resource Development are also bound to increase. Restructuring of remuneration structure, voluntary retirement schemes, sweat equity etc. have become major financial decisions in the area of human resource management. Strategic Planning – Finance –Finance function is an important tool in the hands of management for strategic planning and control on two counts – i) The decision variables when converted into monetary terms are easier to grasp. ii) Finance function has s trong inter-linkages with other functions. Controlling other functions through finance route is possible. Methods and Tools of Financial Management – i) In the area of Financing – Funds are procured from long-term sources as well as short-term sources. Long-term funds may be made available by owners, i. e. hareholders, lenders through issue of debentures / bonds, from financial institutions, banks and public at large. Short-term funds may be procured from commercial banks, suppliers of goods, public deposits etc. The finance manager has to decide on optimum capital structure with a view to maximize shareholder’s wealth. Financial leverage or trading on equity is an important method by which return to shareholders can be increased. ii) For evaluating capital expenditure (investment) decisions, a finance manager uses various methods such as average rate of return, payback, internal rate of return, net present value and profitability index. ii) In the area of worki ng capital management there are various methods for efficient utilization of current resources at the disposal of the firm, thus increasing profitability. The centralized method of cash management is considered a better method of managing liquid resources of the firm. iv) In the area of dividend decision, a firm is faced with the problem of declaring dividend or postponing dividend declaration, a problem of internal financing. There are tools to tackle such situation. v) For the evaluation of a firm’s performance there are different methods.For example, ratio analysis is a popular technique to evaluate different aspects of a firm. vi) The main concern of the finance manager is to provide adequate funds from the best possible source, at the right time and the minimum cost and to ensure that the funds so acquired are put to best possible use through various methods / techniques are used to determine that funds have been procured from the best possible available services and the funds have been used in the best possible way: Funds flow and cash flow statements and projected financial statements help a lot in this regard.The changing role of Financial Management in India – Modern Financial Management has come a long way from the traditional corporate finance. The finance Manager is working in a challenging environment, which changes continuously. As the economy is opening up and global resources are being tapped, the opportunities available to finance manager have no limits. At the same time one must understand the risk in the decisions. Financial management is passing through an area of experimentation and excitement, as a large part of the finance activities carried out today were not heard a few years ago.A few instances are enumerated below: – i) Interest rates have been deregulated, further interest rates are fluctuating, and minimum cost of capital necessitates anticipating interest rate movements. ii) Rupee has become freely convertible in current account. iii) Optimum debt equity mix is possible. The firms have to take advantage of the financial leverage to increase the shareholders wealth. However financial leverage entails financial risk. Hence a correct trade off between risk and improved rate of return to shareholders is a challenging task. v) With free pricing of issues, the optimum price of new issue is a challenging task, as overpricing results in under subscription and loss of investor confidence whereas under pricing leads to unwarranted increase in number of shares and also reduction of earnings per share. v) Maintaining share prices is crucial. In the liberalized scenario the capital markets is the important avenue of funds for business. The dividend and bonus policies framed, has a direct bearing on the share prices. i) Ensuring management control is vital especially in the light of foreign participation in equity (which is backed by huge resources) making the firm an easy takeover target. Existing ma nagements may loose control in the eventuality of being unable to take up the share entitlements. Financial strategies to prevent this are vital to the present management. Forms of Business Organization – The three most common forms of business organization are the sole proprietorship, the partnership and the company.Other specialized forms of business organizations also exist. Sole proprietorship are the most In terms of total receipts and net profits corporate form of business dominate. Sole Proprietorship – A sole proprietorship is a business owned by one person who runs for his own profit. Majority of the business firms are sole proprietorships. The typical sole proprietorship is a small business e. g. bakeshop, personal trainer or plumber. The majority of sole proprietorship is found in the wholesale, retail, service and construction industries.Typically, the proprietor along with few employees runs the business. He raises capital from personal resources or by bor rowing and is responsible for all business decisions. The sole proprietor has unlimited liability, towards creditors not restricted to the amount originally invested. The key strengths and weaknesses of sole proprietorship are given in table 1. 3. Partnership – A partnership firm is a business run by two or more persons for profit.Partnership accounts for the next majority of business and they are typically larger than sole proprietorship. Finance, legal and real estate firms often have large number of partners. Most partnerships are established by a written contract known as ‘Deed of Partnership’. In partnership, all partners have unlimited liability for all the debts of the partnership. In India, partnership is governed by the Partnership Act, 1932. Strengths and weaknesses or partnerships are summarized in Table 1. 3. Company Form –A company form of business is a legal entity, separated from the owners, with perpetual succession. Just like an individual , the company can sue and be sued, make and be party to contracts and acquire property in its own name. The company form of organization is the dominant form of business organization in terms of receipts and profits. Although, corporations are involved in all types of business, manufacturing corporation account for the largest portion of corporate business receipts and net profits.The key strengths and weaknesses of corporate form are summarized in Table 1. 3. The owners of the company are its shareholders, whose ownership is evidenced by either common shares or preference shares. Shareholders get a return by receiving dividends i. e. periodic distribution of earnings or gains through increase in share price. Owner’s liability is limited to the amount paid on their shares. Shareholder elects the Board of Directors through vote.The Board of Directors has the ultimate authority in running the organization including making the general policy. The President or Chief Executive Off ice (CEO) is responsible for managing day to day operations and carrying out the policies established by the Board. The CEO is required to report periodically to the firm’s board of directors. The corporate form of business are subject to strict control by Regulatory Agencies including Companies Ac, 1956, SEBI, etc. Table I – Strengths and weaknesses of the common forms of business organizations Sole Proprietorship |Partnership |Company | | | | | |Strengths | | | | | | | |Owners receive all profits and incurs all losses |Can raise more funds than the sole proprietorship |Owners liability is limited to the extent paid on | | |their shares | |Low organizational costs |Borrowing powers enhanced by more owners | | | | |Can achieve large size via sale of shares | | |More available manpower and managerial skill | | |Income is included and taxed on owners personal tax | |Ownership (share) is readily transferable | |return |Income included and mixed on individual partnerâ€⠄¢s tax | | | |return |Long life of the firm | |Independence | | | | | |Can have professional managers | |Secrecy | | | | | |Has better access to financing | |Ease of dissolution | | | | | |Receives some tax advantage | | | | | | | | | |Weaknesses – |Owners have unlimited liability and may have to cover | | | |debts of other partners |Taxes generally higher, because corporate income is | |Owner has unlimited liability towards debt of the firm| |taxed and dividends paid to owners are also taxed. | |Partnership is dissolved when partner dies |(the latter has been exempted at the hands of the | |Limited fund raising power limits growth | |shareholders in India) | | |Difficult to liquidate or transfer partnership | | |Proprietor must be jack-of-all trades | |More expensive to organize than other forms of | | | |business | |Difficult to give employees long-run career | | | |opportunities | |Subject to greater control by regulating authorities | | | | | |Lacks continuity when pro prietor dies or unable to | |Lacks secrecy since the shareholders must receive | |operate | |financial reports at periodic intervals | | | | | Limited Liability Partnership A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liability.It therefore exhibits elements of partnerships and corporations. In an LLP, one partner is not responsible or liable for another partner's misconduct or negligence. This is an important difference from that of an unlimited partnership. In an LLP, some partners have a form of limited liability similar to that of the shareholders of a corporation. In some countries, an LLP must also have at least one â€Å"general partner† with unlimited liability. Unlike corporate shareholders, the partners have the right to manage the business directly. In contrast, corporate shareholders have to elect a board of directors under the laws of various state charters.The board organizes it self (also under the laws of the various state charters) and hires corporate officers who then have as â€Å"corporate† individuals the legal responsibility to manage the corporation in the corporation's best interest. An LLP also contains a different level of tax liability from that of a corporation. Limited liability partnerships are distinct from limited partnerships in some countries, which may allow all LLP partners to have limited liability, while a limited partnership may require at least one unlimited partner and allow others to assume the role of a passive and limited liability investor. As a result, in these countries, the LLP is more suited for businesses where all investors wish to take an active role in management. There is considerable confusion between LLPs as constituted in the U. S. nd that introduced in the UK in 2001 and adopted elsewhere  Ã¢â‚¬â€ see below  Ã¢â‚¬â€ since the UK LLP is, despite the name, specifically legislated as a Corporate body rat her than a Partnership. India The Limited Liability Partnership Act 2008 was published in the official Gazette of India on January 9, 2009 and has been notified with effect from 31 March 2009. However, the Act, has been notified with limited sections only. The rules have been notified in the official gazette on April 1, 2009. The first LLP was incorporated in the first week of April 2009. 1. In India, for all purposes of taxation, an LLP is treated like any other partnership firm. 2. be limited to their agreed contribution in the LLP. 3.Further, no partner would be liable on account of the independent or unauthorized actions of other partners, thus allowing individual partners to be shielded from joint liability created by another partner's wrongful business decisions or misconduct. 4. LLP shall be a body corporate and a legal entity separate from its partners. It will have perpetual succession. Indian Partnership Act, 1932 shall not be applicable to LLPs and there shall not be any upper limit on number of partners in an LLP unlike an ordinary partnership firm where the maximum number of partners can not exceed 20, LLP Act makes a mandatory statement where one of the partner to the LLP should be an Indian. 5. Provisions have been made for corporate actions like mergers, amalgamations etc. 6.While enabling provisions in respect of winding up and dissolutions of LLPs have been made, detailed provisions in this regard would be provided by way of rules under the Act. 7. The Act also provides for conversion of existing partnership firm, private limited company and unlisted public company into a LLP by registering the same with the Registrar of Companies (ROC) 8. Nothing Contained in the Partnership Act 1932 shall effect an LLP. 9. The Registrar of Companies (Roc) shall register and control LLPs also. 10. The governance of LLPs shall be in electronic mode based on the successful model of the present Ministry of Corporate Affairs Portal. Chapter Assignments – 1. What are the tasks of Financial Management? 2. Discuss the salient features of the traditional approach to Corporation Finance. 3.Discuss the distinctive features of modern approach to Corporation Finance. 4. What is the normative goal of financial management? 5. â€Å"Financial Management is an integral part of the jobs of all managers. Hence it cannot be entrusted to a staff Department†. Discuss. 6. Discuss some of the problems the financial managers in a developing country like India have to grapple with. 7. Draw a typical organization chart highlighting the finance function of a company. 8. Which of the following functions should be the responsibility of a Finance Manager? i) Maintaining the books of account. ii) Negotiating loans with banks iii) Preparation of cost statements iv) Conducting of internal audit v) Analysis of new projects i) Ensuring that enough cash is available at all the branches and factories of the company. vii) Assisting the management in taking a decision regarding the quantum of dividend. viii) Negotiating under-writing agreements in case of new issues ix) Preparing the financial statements. x) Deciding about change in the policies regarding recruitment. xi) Decision on administrative practices. xii) Change in marketing and advertising techniques routine. 9. Which of the following statements are true? i) It is the job of the finance manager to approve all payments. ii) The finance manager has to keep a proper balance in the procurement and use of funds. iii) Acquisition of fixed assets is of no concern to the finance manager. v) It is always advisable to distribute the total amount of profit as dividend. v) Since it is crucial that all sections of the business have adequate cash, it is a good policy to give each sections of the business double the amount of cash that they normally require so that they can meet even emergencies. vi) Debentures and loans from financial institutions are very important sources of long-term fund s. vii) It is better if no credits are given to the customers since this would mean that no amounts are tied up in sundry creditors. viii) In a period of rising prices, it is better to stock as much as raw material as possible, irrespective of the cost of procuring funds. x) A proper capitalization ensures that there is a balance between long-term funds and short-term funds and also proper ratios are maintained between the various sources of funds. 10. Which of the following statements do you agree? i) Financial management is essential only in private sector enterprise. ii) Only capitalists have to bother about money. The bureaucrat is to administer and not manage funds. iii) The public administrators in our country must be given a basic understanding of essentials of finance. iv) A state owned Transport Company must immediately deposit in the bank all its takings. v) â€Å"Financial Management is counting pennies. We do not believe in such miserly attitude†. vi) â€Å"Finan ce function is important as any other function in an organization†.