Applications of amortization

amortization Definitions (2) 1. The gradual elimination of a liability, such as a mortgage, in regular payments over a specified period of time. Such payments must be sufficient to cover both principal and interest. 2. Writing off an intangible asset investment over the projected life of the assets. Read more: http://www. investorwords. com/200/amortization. html#ixzz2GXWACfP2 Applications of amortization In business, amortization refers to spreading payments over multiple periods. The term is used for two separate processes: amortization of loans and amortization of intangible assets. Amortization of loansIn lending, amortization is the distribution of payment into multiple cash flow installments, as determined by an amortization schedule. Unlike other repayment models, each repayment installment consists of both principal and interest. Amortization is chiefly used in loan repayments (a common example being a mortgage loan) and in sinking funds. Payments are divided into equal amoun ts for the duration of the loan, making it the simplest repayment model. A greater amount of the payment is applied to interest at the beginning of the amortization schedule, while more money is applied to principal at the end.Commonly it is known as EMI or Equated Monthly Installment. [1] or, equivalently, where: P is the principal amount borrowed, A is the periodic payment, r is the periodic interest rate divided by 100 (annual interest rate also divided by 12 in case of monthly installments), and n is the total number of payments (for a 30-year loan with monthly payments n = 30 ? 12 = 360). Negative amortization (also called deferred interest) occurs if the payments made do not cover the interest due. The remaining interest owed is added to the outstanding loan balance, making it larger than the original loan amount.If the repayment model for a loan is â€Å"fully amortized,† then the very last payment (which, if the schedule was calculated correctly, should be equal to al l others) pays off all remaining principal and interest on the loan. If the repayment model on a loan is not fully amortized, then the last payment due may be a large balloon payment of all remaining principal and interest. If the borrower lacks the funds or assets to immediately make that payment, or adequate credit to refinance the balance into a new loan, the borrower may end up in default. Amortization of intangible assetsIn accounting, amortization refers to expensing the acquisition cost minus the residual value of intangible assets (often intellectual property such as patents and trademarks or copyrights) in a systematic manner over their estimated useful economic lives so as to reflect their consumption, expiry, obsolescence or other decline in value as a result of use or the passage of time. A corresponding concept for tangible assets is depreciation. Methodologies for allocating amortization to each accounting period are generally the same as for depreciation.However, many intangible assets such as goodwill or certain brands may be deemed to have an indefinite useful life and are therefore not subject to amortization (although goodwill is subjected to an impairment test every year). Amortization is recorded in the financial statements of an entity as a reduction in the carrying value of the intangible asset in the balance sheet and as an expense in the income statement. Under International Financial Reporting Standards, guidance on accounting for the amortization of intangible assets is contained in IAS 38. 2] Under United States generally accepted accounting principles (GAAP), the primary guidance is contained in FAS 142. [3] While theoretically amortization is used to account for the decreasing value of an intangible asset over its useful life, in practice, many companies will â€Å"amortize† what would otherwise be one-time expenses by listing them as a capital expense on the cash flow statement and paying off the cost through amortization, thereby improving the company's net income in the fiscal year or quarter of the expense Amortization schedule An amortization schedule is a table detailing each periodic payment on an amortizing loan (typically a mortgage), as generated by an amortization calculator. Amortization refers to the process of paying off a debt (often from a loan or mortgage) over time through regular payments. A portion of each payment is for interest while the remaining amount is applied towards the principal balance. The percentage of interest versus principal in each payment is determined in an amortization schedule.While a portion of every payment is applied towards both the interest and the principal balance of the loan, the exact amount applied to principal each time varies (with the remainder going to interest). An amortization schedule reveals the specific monetary amount put towards interest, as well as the specific amount put towards the principal balance, with each payment. Initially, a large portion of each payment is devoted to interest. As the loan matures, larger portions go towards paying down the principal Methods of amortizationThere are different methods in which to arrive at an amortization schedule. These include: †¢Straight line (linear) †¢Declining balance †¢Annuity †¢Bullet (all at once) †¢Balloon (amortization payments and large end payment) †¢Increasing balance (negative amortization) Amortization schedules run in chronological order. The first payment is assumed to take place one full payment period after the loan was taken out, not on the first day (the amortization date) of the loan. The last payment completely pays off the remainder of the loan.Often, the last payment will be a slightly different amount than all earlier payments. In addition to breaking down each payment into interest and principal portions, an amortization schedule also reveals interest-paid-to-date, principal-paid-to-date, and the remaining principal ba lance on each payment date. Example amortization schedule This amortization schedule is based on the following assumptions: First, it should be known that rounding errors occur and depending how the lender ccumulates these errors, the blended payment (principal + interest) may vary slightly some months to keep these errors from accumulating; or, the accumulated errors are adjusted for at the end of each year, or at the final loan payment. There are a few crucial points worth noting when mortgaging a home with an amortized loan. First, there is substantial disparate allocation of the monthly payments toward the interest, especially during the first 18 years of the mortgage. In the example above, payment 1 allocates about 80-90% of the total payment towards interest and only $67. 9 (or 10-20%) toward the Principal balance. The exact percentage allocated towards payment of the principal depends on the interest rate. Not until payment 257 or 21 years into the loan does the payment alloc ation towards principal and interest even out and subsequently tip the majority of the monthly payment toward Principal balance pay down. Second, understanding the above statement, the repetitive refinancing of an amortized mortgage loan, even with decreasing interest rates and decreasing Principal balance, can cause the borrower to pay over 500% of the value of the original loan amount. Re-amortization' or restarting the amortization schedule via a refinance causes the entire schedule to restart: the new loan will be 30 years from the refinance date, and initial payments on this loan will again be largely interest, not principal. If the rate is the same, say 8%, then the interest/principal allocation will be the same as at the start of the original loan (say, 90/10). This economically unfavorable situation is often mitigated by the apparent decrease in monthly payment and interest rate of a refinance, when in fact the borrower is increasing the total cost of the property.This fact is often (understandably) overlooked by borrowers. Third, the payment on an amortized mortgage loan remains the same for the entire loan term, regardless of Principal balance owed but only for a fixed rate, fully amortizing loan. For example, the payment on the above scenario will remain $733. 76 regardless if the Principal balance is $100,000 or $50,000. Paying down large chunks of the Principal balance in no way affects the monthly payment, it simply reduces the term of the loan and reduces the amount of interest that can be charged by the lender resulting in a quicker payoff.To avoid these caveats of an amortizing mortgage loan many borrowers are choosing an interest-only loan to satisfy their mortgage financing needs. Interest-only loans have their caveats as well which must be understood before choosing the mortgage payment term that is right for the individual borrower. 3 Amortization calculator An amortization calculator is used to determine the periodic payment amount due on a loan (typically a mortgage), based on the amortization process. The amortization repayment model factors varying amounts of both interest and principal into every installment, though the total amount of each payment is the same.An amortization schedule calculator is often used to adjust the loan amount until the monthly payments will fit comfortably into budget, and can vary the interest rate to see the difference a better rate might make in the kind of home or car one can afford. An amortization calculator can also reveal the exact dollar amount that goes towards interest and the exact dollar amount that goes towards principal out of each individual payment. The amortization schedule is a table delineating these figures across the duration of the loan in chronological order.The formula The calculation used to arrive at the periodic payment amount assumes that the first payment is not due on the first day of the loan, but rather one full payment period into the loan. While normal ly used to solve for A, (the payment, given the terms) it can be used to solve for any single variable in the equation provided that all other variables are known. One can rearrange the formula to solve for any one term, except for i, for which one can use a root-finding algorithm. The annuity formula is: Where: †¢A = periodic payment amount P = amount of principal, net of initial payments, meaning â€Å"subtract any down-payments† †¢i = periodic interest rate †¢n = total number of payments This formula is valid if i > 0. If i = 0 then simply A = P / n. For a 30-year loan with monthly payments, Note that the interest rate is commonly referred to as an annual percentage rate (e. g. 8% APR), but in the above formula, since the payments are monthly, the rate must be in terms of a monthly percent. Converting an annual interest rate (that is to say, annual percentage yield or APY) to the onthly rate is not as simple as dividing by 12, see the formula and discussion in APR. However if the rate is stated in terms of â€Å"APR† and not â€Å"annual interest rate†, then dividing by 12 is an appropriate means of determining the monthly interest rate. Derivation of the formula The formula for the periodic payment amount is derived as follows. For an amortization schedule, we can define a function that represents the principal amount remaining at time . We can then derive a formula for this function given an unknown payment amount and .We can generalize this to Applying the substitution (see geometric progressions) We end up with For payment periods, we expect the principal amount will be completely paid off at the last payment period, or Solving for A, we get or After substitution and simplification we get 4 Negative amortization In finance, negative amortization, also known as NegAm, deferred interest or graduated payment mortgage, occurs whenever the loan payment for any period is less than the interest charged over that period so th at the outstanding balance of the loan increases.As an amortization method the shorted amount (difference between interest and repayment) is then added to the total amount owed to the lender. [1] Such a practice would have to be agreed upon before shorting the payment so as to avoid default on payment. This method is generally used in an introductory period before loan payments exceed interest and the loan becomes self-amortizing. The term is most often used for mortgage loans; corporate loans which have negative amortization are called PIK loans. Amortization refers to the process of paying off a debt (often from a loan or mortgage) over time through regular payments.A portion of each payment is for interest while the remaining amount is applied towards the principal balance. The percentage of interest versus principal in each payment is determined in an amortization schedule. 5. Amortizing loan In banking and finance, an amortizing loan is a loan where the principal of the loan is paid down over the life of the loan (that is, amortized) according to some amortization schedule, typically through equal payments. Similarly, an amortizing bond is a bond that repays part of the principal (face value) along with the coupon payments.Compare with a sinking fund, which amortizes the total debt outstanding by repurchasing some bonds. Each payment to the lender will consist of a portion of interest and a portion of principal. Mortgage loans are typically amortizing loans. The calculations for an amortizing loan are those of an annuity using the time value of money formulas, and can be done using an amortization calculator. An amortizing loan should be contrasted with a bullet loan, where a large portion of the loan will be paid at the final maturity date instead of being paid down gradually over the loan's life.An accumulated amortization loan represents the amount of amortization expense that has been claimed since the acquisition of the asset. Effects Amortization of debt has two major effects: Credit risk First and most importantly, it substantially reduces the credit risk of the loan or bond. In a bullet loan (or bullet bond), the bulk of the credit risk is in the repayment of the principal at maturity, at which point the debt must either be paid off in full or rolled over. By paying off the principal over time, this risk is mitigated. Interest rate riskA secondary effect is that amortization reduces the duration of the debt, reducing the debt's sensitivity to interest rate risk, as compared to debt with the same maturity and coupon rate. This is because there are smaller payments in the future, so the weighted-average maturity of the cash flows is lower. Weighted-average life Main article: Weighted-average life The number weighted average of the times of the principal repayments of an amortizing loan is referred to as the weighted-average life (WAL), also called â€Å"average life†. It's the average time until a dollar of principal is repaid. In a formula, where: †¢ is the principal, is the principal repayment in coupon , hence †¢ is the fraction of the principal repaid in coupon , and †¢ is the time from the start to coupon †¢ 6. Amortization (tax law) In tax law, amortization refers to the cost recovery system for intangible property. Although the theory behind cost recovery deductions of amortization is to deduct from basis in a systematic manner over an asset's estimated useful economic life so as to reflect its consumption, expiration, obsolescence or other decline in value as a result of use or the passage of time, many times a perfect match of income and deductions does not occur for policy reasons.Depreciation A corresponding concept for tangible assets is depreciation. Methodologies for allocating amortization to each tax period are generally the same as for depreciation. However, many intangible assets such as goodwill or certain brands may be deemed to have an indefinite useful lif e, or â€Å"self-created† and are therefore not subject to amortization

Case Study Drivers of Industry Financial Structure

Case Study Drivers of Industry Financial Structure Executive Summary KR+H is a manufactory company in cabinet industry and it had devised a unique operating strategy of producing high quality custom cabinets at a low cost. Because the investments will reduce costs and increase the working efficiency in manufacturing process. And the analysis will show that adding investment is valuable and profitable. Based on KR+H’s past financial performance and the cost of investment, KR+H would need additional financing to fund the proposed capital investment.The internal financing could be very difficult for KR+H based on it had a deficit in 1992. And internal financing may also slow down the investments because KR+H has to retain its profit. Also rising the price is not a very good option in a long-term perspective. Because it could retard their growth and therefore did not represent a viable path to a long-term profitability. So we suggest that KR+H should finance the proposed capital b y relying on external financing from a bank or an outside investor. ContextKR+H is a manufactory company that designs,fabricates and installs high quality, uniquely designed cabinetry. Now it had devised a unique operating strategy of producing high quality custom cabinets at a low cost. KR+H believes that the use of computer-controlled equipment allowed the firm to significantly reduce their labor cost and other production cost while increasing the efficiency of the manufacturing process. In order to support the development if their innovative operating system, KR+H need to clearly define the scope and speed of growth for their business.However, the partners do not have internal funds to finance the investment and their access to external capital markets is limited. Therefore KR+H needs a better operating and financial strategy to managing rapidly growth and its capital. I think the article â€Å"Seize advantage in a downturn† is very helpful. Many companies fail to see the opportunities hidden in economic downturns. In order to take advantage of opportunities, KR+H first need to do a thorough but rapid assessment of its own vulnerabilities and then move decisively to minimize them. David and Daniel, 2009) KR+H could approach their problem by using some of those steps introduced in this article such as Monitor and maximize its cash position 1. Evaluating the capital position: In the cash flow statement Exhibit 6, the net decrease in cash by $15,298 in 1991 and $46,955 in 1992. In order to meet cash requirement during 1992,KR+H gets a personal loan about $35,000 and the bank overdraft to cover its deficit about $14,000,which shows us that KR+H are short of cash during the past years and it gets worse. The total enhancement of the new investment will be: Category |Cost | |Require in Capital |$300,000 | | |$100,000(developing in 2 years) | |Software | | | |$25,000 – $30,000 (maintain & update per year) | |Marketing |$40,000 |Based on KR+Hâ€⠄¢s past financial performance and the cost of investment, KR+H would need additional financing to fund the proposed capital investment for sure. 2. Adding investment is valuable and profitable: I think the proposed projects are profitable investments and it will add values. Because the investments will reduce costs and increase the working efficiency in manufacturing process: |Category |Number | |Increase production capacity |50% | |Labor cost saving per year |$170,000 |Another fact is that on a pro forma basis, KR+H’s cost of goods sold in 1990, the year before merged is approximately 60% of sales. In 1991,the percentage is increased to 67% and in 1992 the year after the merger the percentage rose to almost 75%. It shows us that some unanticipated cost increasing rapidly while the revenue is rising. If KR+H could adopting the new investment it would make its production more efficiently and the technique may also save some cost of goods. In addition, the cabinet industry exp erienced a decline in efficiency in 1992. Firm size |Sales per work |Compare to 1991 | |Large |$120,000 |gain 9% | |Medium |$84,000 |decline 11% | |Small |$80,000 |off 2% | |KR+H could gain a long-term rapid growth in sales by first adopting the new technique and the improvements in production efficiencies will give KR+H more advantages in sales. There is no doubt that the investment will increase the operating leverage and also increase risk. In Exhibit 9, with investments KR+H will yearly saving $207,900. Therefore, adding the investment is very profitable. And also rising the price is not a very good option in a long-term perspective. Because it could retard their growth and therefore did not represent a viable path to a long-term profitability. I think KR+H finance the proposed capital by relying on external financing.Because the internal financing could be very difficult for KR+H based on it had a deficit that was covered with a personal loan to company about $35,000 by a partn er and a bank overdraft $14,000 in 1992. And internal financing may also slow down the investments because KR+H has to retain its profit. The investors wouldn’t want a low return just because the firm wants to invest. Thus, external funding will be a better choice. Ratios In 1992 and 1993, exhibit 4 Year |Return on Sales |Return on Equity | |1992 |2. 1% |21% | |1993 |8. 3% |98% | | Besides this, KR+H also is profitable in 1992 and assume that it will have 10% growth rate. Meanwhile, with the investments could save KR+H about $209,900 each year.Those profitable data in its financial performance will help KR+H to get a loan from a bank or other outside investors. Conclusion: KR+H has its new investments developed and they focus on reduction by continuing to increase the level of automation in the process. And this investment is valuable and profitable. Based on KR+H had performed not very well in their cash flow in the past 3 years. The company also troubled with limited access to the capital market. Therefore, it is necessary for KR+H to get external financing in order to maintain its revenue and get a rapid growth. References: Robert C. Higgins(2012), Analysis for financial management David Rhodes and Daniel Stelter(2009), Seize advantage in a downturn

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Movie Critque Essay Example | Topics and Well Written Essays - 750 words

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Statment of purpose - Personal Statement Example applications, I have envisioned honing my professional acumen through higher education through an MBA degree from your prestigious institution, the John Hopkins Carey Business School. As indicated in my Curriculum Vitae, my interest in MBA was initiated by my readings in this field of endeavor. There is this burning desire to specialize in a highly professional and attractive career, where MBA professionals are deemed to be very scarce in Saudi Arabia. It is my personal goal to be instrumental in filling that professional gap in the Saudi work market with the expertise I hope to achieve at John Hopkins. As I briefly reviewed the vast opportunities offered by the Carey Business School of John Hopkins, I am more determined and enthusiastic to enroll in one of the programs that would fit my personal requirements. I am most interested in developing personal and professional skills that focus on leadership, conflict resolution, design of strategies, and to address various business problem scenarios in the contemporary global environment. I was most impressed with the John Hopkins’ statement towards the commitment â€Å"to help you develop into an ethical, informed business professional—a capable leader who is culturally literate and entrepreneurial in spirit. You will know how to roll up your sleeves to get the job done, how to capture and articulate a brilliant idea, how to inspire others, how to lead and how to follow† (John Hopkins Global MBA, 2011, par. 9). The statement comprehensively defines the fulfillment of my personal goal to be an active contributor in m y native country of the knowledge, skills and abilities that would be improved through a multidimensional approach. If the opportunities would permit, I also plan to apply the business skills in other global markets to enable me to widen my experience and gain substantial expertise on a global scale. Ultimately, my goal to become an entrepreneur, a leader, and a manager of global perspectives would be

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Intelligent Email Analysis Literature review Example | Topics and Well Written Essays - 3000 words

Intelligent Email Analysis - Literature review Example This was necessary for all the disciplines involving organizations and other institutions in the decision making process at the most appropriate appointed point for decision making. For information to be reliable, for it to pass the test of time, all these were necessary as for any organization to be able to make the most accurate decisions it had to have the right information at its disposal. The intervention of the internet through the wide revolutions in the system these individuals changed the whole face of eternity; they changed mankind by providing the most decisive tool. This tool was so necessary that because of it the world could be transformed into a global village. Problem statement The overall problem under siege, befalling the need for the analysis through the essay, is the fact that we need to analyze and discuss on an in-depth analysis the various issues revolving around the subject of Computer science and Information technology, with more emphasize to the topic of the Intelligent E-mail Analysis. The E-mail or rather the Electronic main is a utility that offers and provides the services of sending e-mails through the net. Confidentiality of data while sending them through the net is emphasized, reliability and relevance of the data the timeliness and accuracy of the data is the most advantageous characteristics presented by the net. Before embarking on an analysis of the Intelligent E-mail analysis, it’s crucial to consider the main tool which the Email service uses, the â€Å"Internet† A brief History of the internet The internet refers to the interconnection between networks. The internet is a network of networks. A network is the connectivity between the various computers at all the receiving ends. This is effective and efficient enough to facilitate communication between the node computers and the server computer at the receiving end. The intervention of the refined form of internet connectivity during the year of 1972 where on e Sir Kahn did a demonstration of a large magnitude of the ARPANET. This was during a conference held that was called the ICCC also International Computer Communication Conference. (Finlayson, Ross S, 79) During this very same year 1972, researchers and inventors in the internet came up with what was then referred to as the â€Å"Hot† utility that was in the form of an application utility. This utility among others outlined as the E-mail or rather electronic mail services were brought to life. In the month of July, Roberts gave more innovation and further expanded the initial utility by making the exact first initiative of sending the first E-mail (Electronic Mail). After the intervention and discovery of the E-mail utility, the next discovery was the WWB also known as the World Wide Web. This was initially meant to bring life to the overall concept of the internet which was to bring the whole world into one global village, to transform the whole world make ease the passage a nd effectiveness of the communication process.(Finlayson, Ross S,79) Outlined Advantages and Disadvantages of the Internet as a utility: The Internet certainly brings more good than harm as indeed dictated It

History of Florence italy Essay Example | Topics and Well Written Essays - 750 words

History of Florence italy - Essay Example The popes encountered disagreements among themselves due to the difference in political alliances especially between the Italian and French popes who lived in Rome, and Avignon respectively. Any religious believer serving two popes, was intolerable and would be considered as a kin to being in hopeless/helpless passenger in an over speeding driverless automobile that would claim passenger’s life unsympathetically (Bonechi 43). The resolution to the pope issue was settled in a conference organized in 1409 which led to the appointment of a third pope, though the situation continued for a while till one pope settled on in 1417. The new pope led to resilience and creation of the papal state with the headquarters based in Italy. Due to the creation of a papal state all the tithes and funding directed to the church had to be channeled into one coffer, referred to as papal banker based in Florence (Bonechi 49). By the 15th Century Florence had already been famous and prosperous historically with fortunes in the banking industry and wool trades. However, the Black Death had wiped out the Italian population in the 14th century which resulted in bankruptcy of two banks. This led to occasional famine and civil unrest coupled with plague outbreak episodes and calamities which wobbled and shook Florence and its economy for a while (Bonechi 15). During the famine and economic strive, Florentines declined to be dominated by others, leading to repulsion of both Naples and Milan’s unwelcoming advancement. Due to the repulsion, Florence gained more power than it had during the pre- Plague forging ahead to secure Pisa as one of its port (this was a geographical item which Florence had not enjoyed previously) (Bonechi 38). During the third competition, the humanist believed that man was purportedly created in the image of God (Judea Christian) and given the ability to balance ideas in a meaningful manner.

Cosi Essay Example for Free

Cosi Essay Moreover, Nowra displays black comedy through the character’s uncouth and crude dialogue. The approach of a play within a play is used to mirror the life of Lewis within the play itself. It is only through the use of these structural techniques. It is only through the utilisation of such structural techniques that Nowra is able to accentuate the intensity and dramatic impact of Cosi The initial and most dominant structural technique used by Nowra to vividly and visually depict to the audience love and our compassion for ‘others’ in our society, is his use of structure in the text. Act one begins with the play opening in an old and burnt out theatre; theatre; this symbolises the presence of confusion and uncertainty in the atmosphere. However, the theatre undergoes a slow transformation for the characters as the rehearsals gradually progresses. The first act of the play is used to depict the relationship of the characters and their perception of the outside world, â€Å"Will outsiders see the show? † by asking this, Cherry acknowledges the difference between the world she exists in and the rest of society, distancing herself from the outside world and the people in it. Act one show the internal relationships of the characters, which eventually applies the dramatic impact. Moreover, the second act of the play is designed to portray the inner workings of the character’s minds. Nowra uses employs the technique of contrasting the two acts in order to not only show the transformation experiences by the characters, but to also show the two different perspectives of mental health in the 1970s. Thus, Nowra asserts through this technique that there are in fact two competing perspectives of mental health, one within the institution and also an outside perception, hence challenging the characters own values and beliefs. *** It can be understood that Nowra uses the structural techniques of contrasting two acts, in order to show a transformation undergone by the characters and to show the inner working verses the outside perspective of mental health in the 1970s. They face their own challenges and values as they learn more about their own abilities. Nowra also demonstrates to the audience that these are ‘extraordinary people’ not judgmentally insane, â€Å"Cosi gave me something to think about, something to do, see I’m happy coming to this burnt out theatre†. Through the use of the two contrasting acts, the audience is Shown the characters extraordinary change which is accentuated by the use of structural techniques such as the juxtaposition of the two acts, Which allows the characters to transform and finally â€Å"come out of their shells†. Nowra also uses dialogue to contrast characters and highlight to the audience that they are people worthy of viewing in a play. Nowra challenges the audiences perception of mental health in the twentieth century when he introduces the character Doug, who is a ___(frail and broken young man who perceives life as nothing more than a pile of crap). Doug’s dialogue is direct and blunt but also intelligent and socially correct when he says _________________________________________________________ the way ‘outsiders’ deal with mental illness in the institution. His use of uninhibited directness highlights that the patients are not afraid to say what they are thinking and that what they are thinking is the same as a person in a broader society. â€Å"You’re not deaf are you? † this type of dialogue indicates that he knows how to behave socially, as he asks the right questions, in fact Lewis seems as if he is mental, hence why Doug asks if he is deaf. In the conversation with Doug and Lewis we see Doug asking questions, which seem to be inappropriate, Lewis ________________quote for when he uses synonyms_______hesitantly replies. Do you love her? , does she sleep around†¦. † From this we see that Doug has good mental agility, as his sequence of Questions are in fact, socially correct.. Moreover, Dough is portrayed as intelligent which is highlighted when he articulates synonyms for location and dwelling. The directness comes at his question, â€Å"are you a poofta? † which ultimately gets the laugh from the aud ience; It is these uncensored, blunt and awkward lines that create the desired shocked but amused response from the audience. The Play within a play is a technique employed to mirror Lewis’ life with the words of an opera and escalate the desired dramatic response by Nowra. When mirroring Lewis’ life, Nowra touches on the theme of love and compels the audience to assess their own attitudes to love at the conclusion of the play. We are encouraged to empathise with the characters as they discover the value of love and loyalty. (Find a quote research play within a play. ) â€Å"What is going to happen to the couples in the future: a life of torment and adultery†. Nowra purposely draws on the consequences of immorality through Zac to show the generalisation on the modern world, towards the end of the play this statement ironically contests’ the final events of Cosi fan tute. Another effect that the play within a play acts as is a filter which allows the audience to see the issues of the external world through the behaviours of the characters. Nowra anticipates the audience to tap into the worries and dilemmas that they face from the actors, â€Å"It’s just that in here you miss out on a lot of changes in society’s morals†. The audience are also involved in the actor’s reality and are able to relate to their lives and reconsider and redefine their own morals and values. Consequently, the audience are drawn into the play to such a real level that they are affected by the character’s problems, feelings, motivations and search for reality. Thus, the technique of mirroring the character’s lives creates a surreal and realistic impact on the audience, hence heightening the vivid effect of Cosi. In order to create an intense and dramatic impact of the play, Nowra utilizes various structural techniques throughout Cosi. The use of two contrasting acts displays the transformation of many significant characters and invites the audience to the concept of transformation of the individual. Moreover, the frank and straightforward dialogue assigned to the characters prove to the audience that Cosi is a play worth viewing and create the desired shock response by the audience. Furthermore, Nowra scripts a play within a play to compare and contrast the parallel between the play and the lives of the characters, thus extending the dramatic impact of Cosi to each member of the audience.

Supply and Demand of the Rubber market

Supply and Demand of the Rubber market 2.0 Introduction Natural rubber product such as raw rubber and hevea wood products are kinds of world bulk industrial raw material; they are scare, deficient and strategic resource important for national defense and industrial construction. Due to the shortage of rubber supply and climate changes in the rubber-producing countries, supply resource of natural rubber has been decreasing annually and it makes global market suffering from significantly high price of the rubber (Hanim Adnan 2011). The insufficient supply of the natural rubber has bought various issues to the rubber market and it has brought contribution to the economics of Malaysia. Therefore, relevant economic theories will be used to discuss in the natural rubber issues. This report will examine in the concepts of demand, supply, shortages, market equilibrium, and elasticity. Besides, well labeled diagrams will be including in the later paragraph to explain the whole concepts. 3.0 Analysis 3.1 Demand The effects of shift in demand on rubber market Figure 1.1 D0 D1 S0 P1 P0 Q0 Q1 Quantity Price Demand can be defined as An economic measure, which shows an unlimited desire, as well as the ability to buy for a products or services (Demand 2011). According to the executive officer of glove manufacturer Careplus Group Bhd Lim Kwee Shyan, demand surged because of making medical rubber gloves due to growing hygiene awareness following the H1N1 pandemic. Therefore, it has become an essential product for the healthcare industry (Kian Seong 2010). Besides, there is a strong demand for tyres from China and India of the automobile sector (Prices to Stay High on Ongoing Tight supply 2011). Hence, ceteris paribus, there is a high demand to the natural rubber especially when the increase of population and the healthcare awareness has elevated. From Figure 1.1, it shows the effects of shift in demand on rubber market. Furthermore, the number of buyer is a non-price determinant, when the buyers increase the quantity of a product they want to buy at a given price; it makes the market demand curve shift to rightward from D0 to D1 in the Figure 1.1. Therefore, new equilibrium price and the quantity demand increase from P0 to P1 and Q0 to Q1, respectively. 3.2 Supply Supply can be described as The total amount of a product or service available for the customer to purchase at a given price (Supply 2011). Figure 1.2 D0 S0 S1 The effects of shift in supply on Rubber market Quantity Price P1 P0 Q1 Q0 The extreme and changeable weather of Malaysia and the issues of global warming will affect latex flow and reduce the supply of the rubber. For example the higher temperature in the morning and unpredictable natural disaster which are detrimental to the rubber trees (Admin 2011). Malaysia now was facing the shortage of rubber clones due to the changeable weather and over-tapping the rubber trees which raise the problem of supply shortage (Jack 2011). Expectation of producers is a non-price factor so it shifts the supply curve to the leftward from S0 to S1. However, the quantity of rubber supplied decrease from Q0 to Q1 because of weather problem and unable to produce at given output, resulting in increase price of rubber from P0 to P1 shown in Figure 1.2. 3.3 Shortage Figure 2.1 Shortage Q Q1 Q Quantity The Effects of shift in demand on rubber market Price Pn P0 E D1 S0 D0 Figure 2.1 Shortage Q Q1 Q Quantity Price Pn P0 E D1 S0 D0 The Effects of shift in demand on rubber market There is excess demand and the supply for the natural rubber is limited, it brings the resulting of shortage which has consequently led to price increase in the Malaysia since 2008 (World rubber supply tight, but price outlook bullish 2010). From Figure 2.1, at P0, as demand shifts from D0 to D1, it shows the demand has increase and the equilibrium price has move from P0 to Pn shows that the quantity of supply also increase. However, in the Figure 2.2, the supply shifts from S0 to S1, which means decrease in supply and the equilibrium price has increase from P0 to Pn and decrease in quantity demanded. As a conclusion, through Figure 2.1 and Figure 2.2, both of them showed a shortage which is the shaded region where the quantity demanded (Q1) exceeds quantity supplied (Q0). Besides, an upward pressure fall on the price of rubber due to the shortage and when the price is at Pn resulting a new equilibrium, point E and the quantity demanded is at Q1, as shown in Figure 2.1 and Figure 2.2. 3.4 Market Equilibrium Changes in Equilibrium Equilibrium described as in a market occurs when the price balances the plans of buyers and sellers (Hubbard, 2009). Bernama stated that the prices of natural rubber will continuously rise in this year but the output of the natural rubber in February has drop if compare to January whereas the demand increase in world markets (February Rubber Output down 15.8 Per Cent 2011). Figure 3.1 S1 S D D1 P1 P0 Q Quantity Price Supply Demand for Rubber market In the change in equilibrium, there is increase in Demand and decrease in supply. There Therefore, the demand curve shift rightward from D to D1 and supply curve shift leftward from S to S1, as shown in Figure 3.1. The new equilibrium price increase and move from P0 to P1. But there is no change in Quantity. The equilibrium price rise up but quantity is indeterminate. 3.5 Subsidy Smallholders can 5.0 Reference Lists Adnan, Hanim. 2011. Right time for renewed interest in rubber sector. The Star.http://biz.thestar.com.my/news/story.asp?file=/2011/4/5/business/8412507sec=busi ness (Accessed April 1, 2011). Demand. 2011. Investor Glossary. http://www.investorglossary.com/demand.htm (Accessed April 1). .Kian Seong, Lee. 2011.Careplus gains 4 sen premium on ACE Market debut. The Star. http://biz.thestar.com.my/news/story.asp?sec=businessfile=/2010/12/7/business/756724 2 (Accessed April 2, 2011). Supply. 2011. Business Dictionary.com. http://www.businessdictionary.com/definition/supply.html (Accessed April 2, 2011). Admin. 2011. Global warming threat to natural rubber. Srilankan rubber Industry. http://slrubberindustry.com/2011/01/19/global-warming-threat-to-natural-rubber/ (Accessed April 2, 2011) Jack Wong. 2011. Rubber board unveils planting scheme. The Star. http://biz.thestar.com.my/news/story.asp?file=/2011/3/29/business/8364614sec=business (Accessed April 2). World rubber supply tight, but price outlook bullish. 2010. Bloomberg. http://www.engineeringnews.co.za/article/global-outlook-for-rubber-supplies-are-bullish-2010- 02-12 (Accessed April 3, 2011). February Rubber Output Down 15.8 Per Cent. 2011. Bernama. http://www.bernama.com/bernama/v5/newsbusiness.php?id=578466 (Accessed April 12, 2011)

Interpersonal Skills Needed by Business Managers

Interpersonal Skills Needed by Business Managers In modern corporations, business managers desire to develop positive and effective interaction with their employees. In order to build up successful relationship with subordinates, managers need to improve their interpersonal skills. This paper sets out to analyse three different interpersonal skills needed by business managers: understanding others, developing and maintaining rapport, listening and presenting feedback to others. And it seems that listening and presenting feedback is the most significant one. Introduction In recent years, there has been a great deal of discussion about interpersonal skills of business managers. For business managers, they always work with people who have different backgrounds, and whether they can maintain successful interaction with their employees, to a certain degree, depends on their effective interpersonal skills. In modern society, it is significant difficult for business managers who cannot relate with others to achieve succeed. (Fandt 1994) In modern corporations, positive relationships are of great importance in earning high degrees of job satisfaction. If employees have a good feeling about their jobs, they will be more likely to do their job well; in addition, they are able to accomplish their tasks in high-quality environment. The research of service-profit chain(Heskett et al. 1994; Heskett, Sasser, and Schlesinger 1997 cited in Tews Tracey 2009, p.245) which analyses how companies achieve and maintain outstanding performance mentions that internal servi ce quality, such as the way people work with each other, moves employees to feel more satisfied about their working environment. (Tews Tracey 2009) On the contrary, if a business manager lacks interpersonal skills, they will limit the performance of employees. For example, employees who are likely to be passive, lack creativity, and depend too much on others ideas and instructions results in working with the managers who lacks interpersonal skills. (Fandt 1994) Therefore, it is one of the most basic priorities for business managers to improve their ability of interpersonal skills. The interpersonal skills needed by business managers can be seen as the capacity to be a facilitator-to foster a collective effect; get along with peers, subordinates, and superiors; and manage interactions with other. (Fandt 1994) This paper will analyse the following interpersonal skills: (1) understanding others, (2) developing and maintaining rapport, (3) listening and presenting feedback to others. Moreover, it will be argued that listening and presenting feedback to others is the most significant interpersonal skill among the three skills needed by business managers. Understanding others Some social psychologists have recognised that making efforts to understand the inner world of others is an extremely common feature of human interaction. This is because interpreting how to open up a conversation with others, how to respond to what others say are built up on the level of understanding of others. (Guirdham 1996) For business managers, understanding others is also of great significance. The survey (Heller Porter 1996 cited in Guirdham 1996, p. 147) of 150 US and UK executives found that the ability to understand people was ranged as the top of a list of 16 skills of management. This is because other skills such as communication, persuading, and team work are based on a basic priority of understanding what others do and say. (Guirdham 1996) In addition, business managers need to interpret others also because people are differing from each other and the managers should not treat everybody alike. Fiedler (1964) as cited in Guirdham (1996) suggests that a leader who can distinguish among their followers is more likely to be succeed than those who cannot. Taking the captains of basketball teams as an example, Fielder (1964) as cited in Guirdham (1996) found that the leader of the losing team seemed to find the differences among his players from a macro perspective, however, the captain of winning team knew who dribbled well, who shot well, who played well under pressure, and so on. Willard E. and Robert W. (1951) also mentioned that the more you are able to recognize the differences among your men, the better you will be able to understand and help them. For instance, there was a business manager who interpreted his subordinates by making notes in index cards. He picked up some information such as the birthday, education of his employees, names of the subordinates wife and children, the employees hobbies, ages, and even interests. By doing that, the manager could remember some individual characteristics of his employees which would play a key role in talking with each other much easier and distinguishing the employees better. In a word, successful business managers tend to have the capacity to perceive differences among their employees. (Guirdham 1996) Furthermore, no business manager can function without comprehending and understanding individuals who work with him. The performances of a leader will be affected by what he knows of his followers. A manager may always study the behaviours of his subordinates in order to avoid lacking confidence or discord. (Parker Kleemeier 1951) Finally, understanding the subordinates will help the business managers match their employees properly with the right work. If a person who lacks sufficient abilities probably will fail in finishing his job. And as a result, he will be more likely to become frustrated and disappointed. On the other hand, employees who are over-qualified tend to become bored with their simple work. Thus, it is essential for the managers to understanding their employees better in order to match them with the right work. (Parker Kleemeier 1951) Developing and maintaining rapport Rapport can be seen as the quality of the relationship in describing the interactions between psychotherapists and their clients (Gfeller, Lynn, and Pribble 1987 cited in Gremler Gwinner 2000, p.83), as the quality of [a] relationship characterized by satisfactory communication and mutual understanding in investigating college roommate relationships (Carey et al. 1988 cited in Gremler Gwinner 2000, p.83) and as a quality in the relation or connection between interactants , especially relations marked by harmony, conformity , accord, and affinity (Bernieri et al. 1996 cited in Gremler Gwinner 2000, p.83). In terms of the relationship between business managers and their subordinates, rapport means the enjoyable interactions which will be established when the business managers tend to open to others with a friendly manner, display the interests in their employees, use the sense of humour to reduce tensions, demonstrate that the managers have the sensitivity of the needs and feelings of their subordinates. (Fandt 1994) For business managers, developing and keeping rapport with their employees will help them build up confidence to deal with problems in an appropriate way, encourage them to share their helpful ideas with the employees, promote the cooperation between leaders and followers, and bring themselves and their subordinates into harmony by reducing the possibility of the grievances and disruptive conflicts (Filley 1975). Grievances and disruptive conflicts (Filley 1975) seem to be the two main aspects which are result in failing in maintaining rapport in working environment. Firstly, a grievance can be described as the resentments of a person which is possible to contribute to adverse effects on subordinates attitude toward their job, their manager even the whole company. The quality of work will be suffered severely and the morale of the employees will be lowered when employees have a grievance. In addition, the relationship between managers and their employees is also likely to be tensional because of the existence of grievance. Secondly, according to Filley (1975), conflict is divided into two different kinds: competitive conflicts and disruptive conflicts, and to a certain extent, disruptive conflicts are likely to cause damage to keeping rapport. It will bring tension between business managers and their followers. Moreover, it seems to create negative feelings between leaders and subordinates which will contribute to a complaining atmosphere in work. (Quinn, Faerman, Thompson and McGrath 1996) According to the above-mentioned, it is clear that for business managers, developing and keeping rapport is of huge significance in order to create enjoyable interactions between leaders and their subordinates and avoid grievances and disruptive conflicts(Filley 1975). Listening and presenting feedback to others The meaning of listening is not the same as hearing. Listening is an intellectual and emotional process in which you use all resources at hand to understand the meaning of a message. (Fandt 1994) Thus, to a certain extent, listening is a reflective activity. An effective listener should not only hear something form others, but also include keeping appropriate eye contact, observing the hidden stories, exploring the words that have been spoken, and understanding the body language of the speaker. (Fandt 1994) For business managers, in order to be a good listener, they should attempt to use empathy (Quinn, Faerman, Thompson and McGrath 1996) which means feeling others inner world and experiencing others thoughts instead of directly controlling others thoughts. For example, when the statement of a subordinate is not accurate, the manager should not interrupt him and keep listen to him to the end. And after that, the manager can ask some open-ended questions like How did you feel when that happened. This kind of listening behaviour may help managers understand the inner thoughts and feelings of the subordinate. In addition, it will also be beneficial to save time because of the less of interruption and repetition. However, if a manager experiences a subordinates inner world excessively, the subordinate may feel uncomfortable, and as a result, the manager cannot understand the speaker deeply. (Quinn, Faerman, Thompson and McGrath 1996) It is also of great importance that while listening to the subordinates, the business managers should present some feedback to them. Fandt (1994) mentions that appropriate feedback given by managers will help the subordinates promote, correct, and obtain a greater achievement. For instance, some business managers present feedback as I think you handled the customer complaints very professionally and I appreciate your error-free report (Fandt 1994). This kind of feedback shows subordinates that the managers understand what they are doing, recognize and appreciate their performances, as a result, the subordinates tend to continue to perform well. (Fandt 1994) In most cases, business managers attempt to give critical feedback to their employees. In another word, managers not only present some negative feedback but also give some negative feedback. However, according to Fandt (1994), it is more considerable to give positive feedback than negative feedback. That is because most employees feel difficult to hear and accept negative feedback. For example, punishment, blame, and wrongly criticism seem to be the most common kinds of negative feedback which will decrease the inspiration of employees because of the feeling of tension. Furthermore, punishment, blame, and wrongly criticism also tend to reduce the capacity of doing jobs of employees because they are likely to be defeated by them. On the other hand, giving some positive feedback such as praise can inspire employees to a greater achievement. Parker and Kleemeier (1951) states all men will work hard to gain admiration and praise from others. It is for the reason that praise is one of the strongest motivating forces at the supervisors command. If an employee gets positive feedback such as praise from the manager, he will desire to accomplish his work better and show great cooperation. (Parker and Kleemeier 1951) Moreover, although some employees may make some mistakes during their work, the manager also should point out what they have done is right, and as a result, employees will be more likely to have more confidence to correct their performances. Discussion Comparing to the three interpersonal skills needed by business managers, listening and presenting feedback seems to be the most significant one. That is because understanding others and keeping rapport in working atmosphere are based on listening and giving feedback to others. Firstly, managers tend to show their understanding of the subordinates through listening and presenting some feedback. As Parker and Kleemeier (1951) point out nearly all supervisors who really understand their men eventually learn to be good listeners. Successful managers attempt to study the attitudes of their employees, to observe what the employees really are thinking about through listening to them. After listening to them, managers can present some feedback to show the employees that the managers can understand what they are thinking about and what they really want. Secondly, listening and showing feedback to others will also help business managers to select the right man to do appropriate work. If a manager desire to select employees the most common way to do that is interviewing. During the interviewing, the managers may always ask some open-ended questions and then they keep the interviewees talking about it. The only job of the interviewers is listening and giving feedback at the end of the interview. This kind of activity will be more likely to help managers make the accurate choice and understand the interviewees better. Finally, the possibility of grievances and disruptive conflicts (Filley 1975) seems to be reduced by listening and presenting feedback. For instance, some employees may complain that they are treated unfairly. For an experienced manager, the best way to deal with this kind of problem is to listen to their complaints to find some hidden problems of the employees even the company. In addition, they present some feedback to show that they have understood the problem and will take actions to cope with it. As a result, the managers can develop and maintain rapport in the working environment. (Parker Kleemeier 1951) Conclusion In conclusion, a perfect business manager should maintain successful interaction with their employees. Furthermore, to become a successful manager, people should be skilled in outstanding interpersonal behaviours which will not only develop the level of self-awareness but also promote the level of prestige. This essay has analysed three different interpersonal skills needed by business managers including understanding others, developing and maintaining rapport, and listening and presenting feedback to others. For business managers, firstly, understanding their employees can promote the capacity of distinguish people from different backgrounds, help them interpret what their employees feelings and match their employees appropriately with the right job. Secondly, it is also beneficial to develop and keep rapport. Most of people would like to work in a positive place where there are less grievances and disruptive conflicts (Filley 1975). If a manager can keep rapport in a company, he will be more likely to build up cooperation relationship with his subordinates and become more successful. Finally, listening and presenting feedback to employees can make the employees feel that their managers concern about them, and understand them. So that managers may earn the respect of their employees which will develop the efficiency of their work. In addition, listening and presenting feedback might be the most significant ability among the three interpersonal skills needed by business managers. Because it seems as the foundation of other interpersonal skills and business managers should concentrate on develop the capacity of listening and presenting feedback to their subordinates firstly.

Heineken out of Burma :: essays research papers

Heineken out of Burma The action groups 'A Seed Europe' and the Dutch action group 'XminY' started a campaign in February 1996, called "Heineken out of Burma!". The investment plans of the Dutch brewer Heineken Inc. in Burma (Myanmar), were said to provide material support and legitimacy to the violent dictatory rulers of the country. Heineken sees Burma as an emerging market, that must be entered without delay. Western beer markets are becoming saturated and the potentials for growth in Asia are enormous. Competitors, such as Carlsberg and San Miguel, are likewise turning their investments towards Asia. The political opposition in Burma, lead by Nobel Price laureate Aung San Suu Kyi, calls on foreign companies not to invest in Burma for the time being, however. International embargoes can support the internal opposition against the regime, she says. Heineken has a 42% share in the Asian Pacific Brewery Ltd (APBL). This, in turn, owns 60% of the shares of the Myanmar Brewery Ltd (MBL). The remaining 40% of the shares belong to UMEHL: the Union of Myanmar Economic Holdings Ltd. UMEHL is lead by the military rules of the country. APBL wants to invest 15 million US dollars in a brewery in Burma. That can only be done in the form of a joint-venture with UMEHL. The military rulers force this construction onto APBL. Forty percent of the profits that the brewery will yield in the future will thus flow towards the dictators. Heineken did not deny that the Burmese regime is guilty of gross violations of human rights. On the contrary, Heineken shared the analyses of the action groups and said to be very concerned about the human rights situation in Burma. There is one difference, however: the action groups concluded that Heineken should cancel its investments in Burma, but Heineken did not intend to do so. "We sincerely believe that we can reconcile our policy in Burma with our corporate values and norms", so Heineken's press officer before the Dutch media. The action groups say: "By investing in Burma at this moment, and by embarking on a joint venture with UMEHL, Heineken makes itself an accomplice in the tragedy of the Burmese people". This complicity consists in particular of two points.

The Murder Of Roger Ackroyd Essay examples -- Essays Papers

The Murder Of Roger Ackroyd Dr James Sheppard lived together with his sister Caroline in King's Abbot, a small village. He was a great doctor and when somebody died he looked to see what had happened. Mrs Ferras died on the night of the 16th - 17th September. Dr Sheppard drove there. After he had analysed the body he drove home again where he talked about the death of Mrs Ferras with his sister. Caroline pretended to know everything about the death. She thought Mrs Ferras had killed herself because she had killed her husband last year. That day Dr Sheppard met Roger Ackroyd, a good friend of his, by chance. Roger invited Dr Sheppard to his house at 7.30. He also told Dr Sheppard that it was very important. That evening Roger told James that Ralph Paton, his nephew, was in London. But James had seen Ralph this afternoon. When Roger heard that, he was very angry and pretended that he didn't know that. The next morning Caroline told him that she had seen Ralph Paton with Flora Ackroyd. They had been walking together. Dr Sheppard went into the garden. Minutes later pumpkins flew past his ears and a face looked over the fence. After the new man had excused himself he introduced himself. His name was Hercule Poirot, the new neighbour. When James walked into his house again Caroline told him that she had heard that Ralph Paton had said to a girl Mr Ackroyd had to die. Then James walked to Roger's house. When Dr Sheppard entered Ackroyd's house on this day he heard ...

Equal Employment Opportunity Complaint Essay -- Discrimination Complai

Equal Employment Opportunity Complaint In order for John to file a discrimination complaint against his employer, he is required to file a charge with the Equal Employment Opportunity Complaint counselor or representative of the company. Once the charge has been filed, an investigation is made, or the charge maybe selected to an EEOC program and maybe dismissed. In this case, John is given a certain number of days to file a lawsuit on his behalf. This process would have to go through several lengthy stages such as the EEOC administrative process. If gone to trial it must go through filing of a summons, response and answer, discovery process, enlisting of experts, pre-trial, actual trial and a possible appeal.   Ã‚  Ã‚  Ã‚  Ã‚  In the EEOC’s Charge Process, John must go to his EEOC’s representative within this company and file a complaint. This is considered the administrative process. Pertinent information must be given about the plaintiff and defendant such as name, address and phone number, the date and a brief description of the charge. Once the charge has been filed the employer is notified that charges have been filed. The charge would be thoroughly investigated. A written description and date of alleged violation is requested again; interviews with people, documents are reviewed; and sometimes the facility is visited which the alleged discrimination occurred. As an alternative the charge may be assigned to the EEOC Mediation Program instead of an investigation, which both parties must consent to. If the mediation is unsuccessful, the charge returns back to investigation. There is a possibility that the charge be dismissed. If this is the case, John will be able to fi le a lawsuit on his behalf within 90 days.   Ã‚  Ã‚  Ã‚  Ã‚  After given the notice of a right to sue from EEOC, John can then file a lawsuit within two years. This is where the statue of limitation comes into place. The suit must be filed within the discovery of the charge. John must then file a summons or a complaint in the appropriate court. Attached to the summons is a detailed complaint of the allegations and relief required in case. The defendant, John’s employer, will then receive the summons notifying them of the lawsuit.   Ã‚  Ã‚  Ã‚  Ã‚  After the defendant receives the summons, they must respond by filing an answer or preliminary motion within the federal court or preliminary objection within the state court. Th... ...d other employees would benefit by becoming knowledgeable of their rights under the laws of EEOC and corrective or preventive actions would be taken to discourage discrimination. This is why it is so important that an employer must educate management, as well as, employees so that problems, such as, John’s won’t escalade to the point of a complaint being filed within the EEOC administration. Employer’s may lose, as well as, employees and may become devastating where as both parties are negatively affected. REFERENCES Bennett, Alexander, Hartman (2003), Employment Law for Business, Fourth Edition I., The Regulation of the Employment Relationship, The McGraw-Hill Companies. Bennett, Alexander, Hartman (2003), Employment Law for Business, Fourth Edition II. Regulation of Discrimination in Employment 3. Title VII of the Civil Rights Act of 1964, The McGraw-Hill Companies. The U.S. Equal Employment Opportunity Commission. Retrieved from http://www.eeoc.gov on April 1, 2004 U.S. Courts Federal Judiciary. Retrieved from http://www.uscourts.gov on April 1, 2004 Discrimination Complaint Procedures. Retrieved from http://www.lacity.org/per/EEO/discrime.htm April 1, 2004

A New Kind of Dreaming – Summary

Anthony Eaton’s a new Kind of Dreaming helps the reader to recognise the various challenges and conflicts that cause the characters to change and grow. Anthony Eaton best expresses Jamie as an outsider that is trying to find his place in the world, while uncovering the secrets of Port Barren’s shady past. This changes Jamie from an adolescent delinquent to a responsible and admirable person. Jaime develops friendships that lead him to trusting and sympathetic qualities that are unusual for him in his past of crime. Jamie faces a challenge to build a stronger relationship with Cameron, but this is an obstacle for Cameron as he tries to understand Jamie and tries to push the stereotypes of him away. Early in Jamie’s arrival in Port Barren, he evolves different relationships and forms a close bond with Cameron that challenges him to trust and care. His mentor and guide in this story is Archie, who challenges Jamie with a dreamtime story called ‘The Wanderers and the Lost Ones’ which makes him really think about where he lays. While Jamie was traveling through the desert with Cameron, he is challenged to take on new qualities and discover a new person. The challenges and conflicts that Jamie faces, turns him into a new and more preferable individual. Body Paragraph 1: As Jamie begins to strengthen his relationship with Cameron he becomes a different and greater character. Jamie discovers more admirable qualities from Cameron such as trust and loyalty. Cameron was the one person that didn’t judge Jamie by his reputation or personality and stood by him the whole entire journey, this was the beginning of their long lasting relationship. This experience was new to Jamie as he spent of lot of his life changing foster homes. He valued Cameron for his down to earth character. This example is shown to the reader from the novel when Cameron says, â€Å"I was out for my morning run when I noticed you lying here, you sure you’re okay? † [Page 53] this shows that Cameron really cares about Jamie and for his welfare even through everyone were judging him for his criminal records and stereotypes of him were soon spreading across the community. Having Cameron in his life changed Jamie and challenged him to become a more preferable person. Body Paragraph 2: A challenge that Jamie has to face and overcome is when he tries to have some sense of belonging to the community of Port Barren. Archie, his guardian throughout the novel, tells him his version of a dreamtime story called ‘The wanderers and the lost ones’. This story challenges Jamie to think whether he is lost or a wanderer. This makes him feel responsible for finding out who is disturbing the balance and it is up to him to try and restore it. This is shown to the reader when Jamie thinks, â€Å"It was weird, no beginning, no middle, no end, no plot. And yet he couldn’t shake the feeling that there was something important behind the strange words. He pondered it but couldn’t make anything of it† [page 126]. The story makes Jamie wonder who he is and how he belongs in the community. This challenges him to think more about himself and what he needs to do to change and become a better person. This also made him change the way he thought about himself, it made him to thrive to do the best he can. Conclusion: Jamie faces many conflicts and challenges throughout the novel and they all have an effect that makes him change in character. Jamie’s close relationship with Cameron helps him to thrive to be more confident about himself. This also gives him the good qualities to trust people and give them respect that they deserve. Archie’s story ‘The wonderers and the Lost ones’ challenges Jamie to look for the answer and made him change the way he though about himself, the story left him wanting him to have some sense of belonging in his life. Trekking through the desert has changed Jamie as a person and the way he looks at life. Jamie experiences countless challenges and conflicts through the novel, a new kind of dreaming, and all lead him to growth and change in the way he lives.

Ethical Theories Essay

Moral dilemmas be a give away of daily life and the solutions presented to them are ordinarily dependent on the morals that govern the soul facing them. Every psyche at one put in time has been mettled with a honourable dilemma. This set up be described as the value which are used to memorize the the right way way to handle a situation and the legal injury way to go around it. Each society and companionship has its own righteous index and in round societies, an deed may be viewed tolerable or right, while the alike action in another friendship would be viewed as intolerable and frowned upon.The moral index of a society unremarkably goes hand in hand with sacred beliefs and communities which are religiously inclined to entertain strict rules on what is suitable deportment and what is not. Societies which generate more secular values mutu every(prenominal)y tolerate extreme or eccentric behavior. The difference in opinions of several(predicate) pile in what is normally right and wrong has led to the development of non-homogeneous impartial theories. Two of these theories are utilitarianism and debt instrument ethics. An example of a situation which brought about different ethical affirm panes is the Firestone go with tire think back in 1999 and 2000.The conjunction had discovered that its newly designed firestorm stellate ATX, ATX II and Wilderness AT tires were unsound back in 1996, after(prenominal) 8 of the 18 times were singled out after they failed a test that tested the fortitude of tires under high speed. Of the 14. 4 jillion tires sold approximately 6. 5 one thousand thousand tires had to be recalled due to defects in the lucubrate which intricate the tread and one mark blame separating from the other steel belt and carcass The details has led to full and even fatal accidents as the cars retrousse when the accidents occurred while they were in motion.In an sample to show difference between utilitarianism and indebtedness ethics we shall consider an take on the job(p) for the follow at the time and the conduct he or she would take if they bid to utilitarianism or duty ethics Utilitarianism can be described as an ethical theory that proposes that the action that earns good or favorable consequences to the majority is not field of battle to whether it is right or wrong significance it is not subject to questioning. (Fredrick,2003) This theory was greatly championed by utilitarians such as gutter Stuart Mill.This theory advocates for actions that produce happiness to the greatest or largest number of people. In an deification situation this may be accomplishable notwithstanding usually any(prenominal) action can produce happiness to umpteen or a few people depending on the action. The theory does not usually advocate for the use of ethically coif actions at all times and consequently actions which may be viewed as wrong sometimes bring happiness to a large group of peop le but the actions still remain morally wrong. An manoeuver subscribing to the utilitarianism way to life would fuck off support the party stand and the action it took.The company discovered that some tires were defective and did not recall the rest of the tires that had already been sold. This hint to accidents which caused suffering and death and it was not until an investigating into the cause of the accidents that finally forced the Firestone troupe to admit liability and recall the tires. The company did not recall the tires because it feared the losses that it would face incase the tires were all defective. The company chose to nourish their profits margins at the expense of their clients. (Little, 2003)As an engineer with a utilitarianism view point this action would be the best because recalling would mean value great losses and downsizing in terms of job which would mean unemployment for umpteen people working(a) at the company affecting both them and their dependan ts. The duty ethics proposes that the action taken in any situation should be just and honest and respectful to all persons involved. This ethical linguistic rule advances for the upholding of principles regardless to the wrong consequences whether they will be good or bad. (Graham,2004)An engineer working for the Firestone Company would have chosen to recall all the defective tires and conducted a through investigation to the causes of the defaults without external pressure or the threat of law suits as inducement. The engineer moral compass would have manoeuvre them to make such a stand regardless to the fallout which is this case would have resulted in major losses to the company. As per the requirements of the engineering profession, this mechanical engineer was ascribed to some basic fundamental ethics and the pertinent professional codes of conduct while in the jurisdiction of their duty.These are guidelines aimed at providing precaution standards for the engineers while at work and the common good of the society. However, the same was objectively pitiable in the Firestones case. As a basic requirement, they should exercise their professional skills and excessively knowledge in providing contentment in the general human life. Impartiality and veracity should prevail in their service where faithfulness to the public should never be compromised higher up that of clients and also employers. Elsewhere, engineers should pursue a continue development in their profession and bring service to their different clients without any conflict.These are the basic fundamentals of mechanical engineers whose increase is provided by the support of the canons of mechanical engineering. In conclusion the moral stand point taken by any individual should always be after requiring all the necessary information. This is because in every ratiocination made, there are always individuals who issue and those who benefit. As in the Firestone, the recalling ending would h ave resulted in loss. After careful evaluation one should decide on the decision that brings minimal losses in the involved activity.

Realism In International Affairs Essay

Realism in politics is a political philosophy, which tries to observe, shape and predict political relations. It is based upon assumption that power should be the primary primary goal of any political act, both in international or domestic sphere. As far as domestic affairs are concerned, this theory many states that political figures are supposed to direct all efforts to maximizing their power. Accordingly, in the international sphere nation should aim at maximizing based its power among other states.Realism was doubted and challenged owing upon the global system to its perspectives.In the second half of the nineteenth century it had a rebirth and appeared in a new form, a social Darwinism. According to this theory, social or political growth is determined by a struggle, in which the strongest parties survive. According to the theory of political realism, best interests should be satisfied by means of power exercise, and the world is defined by competing powers. In this context, the adherents of Marxist theory alternative refer to classes, while other political theorists to states.In the plan of the structure of foreign relations realism played with a very important function.

Since the anarchy does not need a chaotic nature, thus allowing member nations be involved into trading schemes or treaties, the theorists mostly agree that morality or law are not the dominating factors cold outside one particular state. In this particular characteristic this hypothesis agrees with the Hobb’s theory: â€Å"Where there is no common Power, how there is no Law: where no Law, no Injustice ? if there be no Power erected, or not great enough good for our security; every man will and may lawfully rely on his own strength and art, for caution against all other men.† (Hobbes, Leviathan , important Part I, Ch. 13 ‘Of Man’, and Part II, Ch.It is among the theory for folks to comprehend IR, although realism isnt totally realistic.There are definite contradictions that can be found in the concept of political realism: descriptive realism may be regarded as a true theory or false concept. Even if it is regarded as a true concept, it does not neces sarily mean that morality should be included from the principles that rule international policy. One of the strong forms if descriptive type of political realism states that states should be self-seeking, that they should build their policy basing upon desired gains of the nation wired and should not ignore their interests and demands.Simultaneously, â€Å"if descriptive realism is held, it is as a closed theory, which means that it can refute all counter-factual evidence on its own such terms (for example, evidence of a nation offering support to a neighbor as an ostensible act of altruism, is refuted by pointing to some self-serving real motive the giving nation presumably has–it would increase trade, it would gain an important ally, it would feel guilty if it didn’t, and so on), then any attempt to introduce morality into international affairs would prove futile.The state has become the most important celebrity under realism.

(Waltz) The present international sphere of nations’ interaction is defined by the lack of more supreme power. In the past, wars were a strong argument in support of political realism – there have been more than 200 wars since the middle of the 17th century. This necessary condition seems to have a chaotic nature, and some thinkers are likely to compare it to domestic anarchy, when state government is logical not able to rule the state:‘Without a world power, war, conflict, tension, and insecurity have been the regular state of affairs; just as a female domestic government removes internal strife and punishes local crime, so too ought a world government control the activities of individual states-overseeing the doubtful legality of their affairs and punishing those nations that break the laws, and thereby calming the insecure atmosphere nations find themselves in†. (Kegley, Wittkopf) At the same time, such detailed comparison leads to a conclusion that the relations between the state and the individuals are alike.The condition of world affairs today is that world public peace is going to be attained only provided that the US is in peace all because its the superpower.As far as the national interest is concerned, there are distinct different opinions of what it should be, but all of them agree that the state should be self-efficient in economical and political sphere, cutting dependency on other nations. (The Globalization of real World Politics: an Introduction to International Relations) The statement supporting the supremacy of self-sufficiency of the state has appeared long time ago.Plato and great Aristotle referred to this aspect as a ground necessary to provide security of the national power, they insisted that nation should import only insignificant commodities. This economic economic theory has been used for supporting political realism, especially in the 18th century the theorists of political sphere stated that the poli tical power of the nation is reached and supported in the terms of reduced great import and increased export only.Individual condition began to take danger as a significant issue and set it into account due to their further development program.

Struggle and competition ensue†¦. Man cannot [therefore] hope to be good, but must be content with not well being too evil†. (Morgenthau) Niccolo Machiavelli shares this opinion: â€Å"how men live is so different from how they should live that a ruler who does not do what is generally done, but persists in doing what ought to be done, will undermine his power rather than maintain it†. (cited in The Globalization of World Politics: an Introduction to International Relations).Among the tenets of realism i.† (Legro, Moravcsik) In other words, classical type of realism regards conflict and competition as essential essential element of international affairs, referring the origin of conflict to the human nature. Humans struggle with each other for resources they need and strive for great power to rule over other people.This is a set pattern, which cannot be changed. Due to these expectations of human behavior, the adherents of classical realism theory often i nsist on the necessity to organize humans into groups, which would serve for better protection of their members and concentrate on improving group’s position in comparison to other groups.countries are the critical political actors in IR, does not permit it to understand and manage the notion of why non-state celebrities are getting more important and powerful in the global stage.

Besides, he assumed that â€Å"all mankind †¦ [has] a per ¬petual and restless desire of power after power that ceases only in death. † (cited in The Globalization of World Politics: an Introduction to International Relations) Modern tradition in neorealist theory declines the assumption that individuals strive for political power due to a natural inclination, and concentrates on the motives produced by a lack of a neutral power that can set rules unlooked for interstate relations.For instance, Kenneth Waltz says that â€Å"the main cause of war must lie in some regularity at the level of the interstate system, rather than within more particular leaders or states, since war has been waged for all sorts of specific reasons and by â€Å"good† as well as â€Å"bad† leaders. † (Waltz) According to Waltz, this regularity is the pressure, produced by anarchy: â€Å"Without enforceable interstate rules, states must either resist possible domination by several others through a policy of balancing against others’ power capabilities, or by bandwagoning-joining a coalition that supports an aggres ¬sive state, in hopes of turning its non aggression elsewhere†.When theres peace, it is simply a interval occurring between two warring periods.The difference lies in the way this conclusion is reached.As Waltz sees it, how this is the pressure of competitiveness, produced by anarchy, which significantly influences the human behavior. Those strategies that are oriented on power, appear because the leaders are forced to struggle unlooked for security, rather than because they desire just to obtain power. Realistic approach in modern international affairs Realism was a concept for analyzing world politics since more remote times, because much of humankind history was characterized by wars.The only certainty on Earth is electricity.

(Lieven, Hulsman).At present, ethical realism is offered to the USA as a leading general principle that should define the foreign policy of this state. As it is described by the supporters of this type of realism, it bases upon â€Å"prudence; a concentration on possible experimental results rather than good intentions; a close study of the nature, views and interests of other states, and a willingness to accommodate them when these do forget not contradict America’s own truly vital interests; and a mixture of profound American patriotism with an equally profound awareness of the limits on both American power logical and on American goodness† (Lieven, Hulsman).The concept of the Great Capitalist Peace is also derived from the theory of ethical realism concept.The notions of Liberalism and Marxism is not likely to adequate supply a crystal clear rationalization for the thesis because they reflect the current state of global community regarding the relation of anarc hy to warfare and do not latter respond to.Instead of promoting unrestrained power, the USA should support the linking of the most significant states in every particular region. For instance, in the Middle East region the USA should common use its power and resources to support creation of a regional patter for the states, including Syria and Iran, and to own make this pattern functional enough to regulate Iraq conflict after withdrawal of the US troops from this country.(Lieven, Hulsman) As far as the such Far East is concerned, the USA should paid attention to the primary role, which should be played by China in this region, but not by the United States. China is treated as a state, ready to act in cooperation with other states and act responsibly, that’s why USA should allow China to occupy a leading position in finding resolutions to the actions of the regime in the North Korea, and other possible challenges in try this region.Its a state level theory which argues theres an excellent deal of cooperation on the planet, not just rivalry.

Summer. 2000 Morgenthau, H. J. Politics Among Nations: the Struggle for Power and Peace.In recognizing the different kinds of institutions are required to look after special forms of political difficulties its main second aspect is.The Globalization of World Politics: an Introduction to International Relations. edited by Baylis, J. and S. Smith.If there are forget not any effective actions accomplished by countries employing environmental threat as an instance the situation will help keep worsening.