Analyzing the Financial Statements of the World’s Retailer

The Wal-Mart case is intended for an introductory or main course on Financial Statement Analysis. It may also be useful within a Corporate Finance/Financial Management course. After a class on financial statements and liquidity, profitability and solvency ratios – and some brief examples discussed by the lecturer – students should be capable of making a financial analysis of Wal-Mart. Students can be asked to make this analysis in class, or to prepare the case outside the classroom, and to present it. Ideally, the case work is conducted in groups of 4 to 6 students, and it typically takes between 1 to 1. 5 hours (for the analysis itself – obviously, drafting a written report or presentation is more time consuming). The Wal-Mart case is aimed at both undergraduate and graduate students, and for general management programmes/MBAs as well as finance students – obviously, for the latter group, a much more fine-grained analysis, extensive discussion and adequate linking among various financials and between the numbers and Wal-Mart’s business is required. Evidently, the lecturer should highlight many more details in a class of finance students. In the teaching note, the authors first provide a detailed discussion of Wal-Mart’s balance sheet, profit and loss account and cash flow statement, mainly based upon common base and common size analysis. While the focus is on 2009 figures, conclusions for 2008 would be broadly similar. Furthermore, they also provide an overview of some key financials’ evolution over the past 10 years. Next, they calculate and interpret liquidity, profitability and solvency ratios for 2008 and 2009 and link these to Wal-Mart’s business model and operating activities. They summarize the main findings in a concluding section. Finally, the authors include a slide show that can be used while teaching this case.

Nielsen’s Aperture Framings in Casablanca

In Casablanca, Jakob Isak Nielsen used staging and shot composition to further impose and show the viewer the important parts and details in a particular series of scenes or stories. In doing this, he focused on aperture framing. So what does Nielsen meant by `aperture framings` as he explained in the article? As I have analyzed the diagrams and comprehended the short definition, I think aperture framing is the picking of an important part in a scene and frame it into a more close-up and detailed shot for the viewers’ advanced understanding, even if logic and standards are violated on the part of the characters. According to the article, Nielsen’s aperture framing does more than filling out the composition and supplementing the series of shots. Aperture framing was said to have more important functions in the viewer’s understanding and perception of the obvious and concealed meanings and symbols in the movie. The aperture framing was said to help direct the viewers’ attention, evoke mood, and have metaphorical and thematic implications for the film. The diagrams and explanation of Nielsen provided me a clear understanding of how aperture framing performs the mentioned functions. Based on how I understood it, directing viewers’ attention is primarily done by the close-up, angled, and detailed frames produced by the aperture. Metaphors in aperture framing is done through focusing or framing the hidden extra-objects and compositions in the background or as formed by the main objects. Lastly, the aperture framing provides mood and theme for a particular scene through the use of some elements like darkness/brightness, lines, shades, colors, and basic composition techniques. Overall, these were done in Casablanca to give a more vivid, concrete, and imposing conveyance of important and usually unraveled meanings and stories.

Literature Review on Domestic Violence

What Makes a Person Violent: Literature Review Since the beginning of the human race, domestic violence has been present. However, it was not until recent centuries that people began to look at it as a crime. To many people, in many cultures, domestic violence was seen as not only acceptable, but necessary in some situations. In a study conducted by Hines and Saudino (2002), domestic violence in close, intimate relationships is a country wide problem within the United States. The last nationally conducted survey found that an estimated 16 percent of married Americans experienced domestic violence within the previous year.That means that approximately 8. 7 million couples have been affected by domestic violence (Hines, Saudino 2002). Information also indicated that out of the couples that experienced domestic violence, 3. 4 million received severe injury. However, this is a problem that reaches far beyond our shores. This is a crisis that has plagued nations all around the world. Amon g various studies, the majority of research focuses on the social learning theory, physiological factors, and alcohol on a person’s likelihood of becoming an offender of domestic violence.Social Learning Theory In recent years, studies involving domestic violence have placed the spot light on the power of being socially learned in violent behaviors. Within the criminal justice field, the domestic violence theory suggest that abuse is a behavior that is taught and picked up from learned experiences within the persons family or society in which they were, or are surrounded (Kernsmith 2006). The study of Intergenerational transmission has become one of the most popular theories to domestic violence (Corvo 2006).In a study done by Kernsmith (2006), a written survey was given to only English-speaking people, that were patients in prevention programs throughout Los Angelo’s County , California. Amongst the fifteen centers chosen to participate, 52. 6 percent of those who res ponded were men and 47. 4 percent of those who responded were women. The study considered different variables including whether or not the participant had ever witnessed or been a victim of domestic violence. The results found that about 74 percent f the participants had witnessed some form of domestic violence as a child. Of those, 70 percent said that they witnessed emotional abuse and 61 percent witnessed physical abuse. In addition to witnessing violence, 68 percent of the participants admitted to being victims of child abuse themselves. Of those, 64 percent reported emotional violence and 53 percent reported physical violence. Domestic violence within previous relationships was also prevalent; around 60 percent reported being victimized by a previous partner.According to the findings in Kernsmith’s (2006) experiment, a high number of the participants that were examined learned their abusive demeanor through previous experience within families of domestic violence. This s tudy also found fewer that 3 percent of the participants admitted to never being exposed to domestic violence, including that of emotional or physical childhood abuse. These same participants said that they had never witnessed any form of sexual violence or domestic violence within their family of origin.This study found that the impact of assault of any form as a child has a huge impact on an individual as an adult. A journal article by Hines and Saudino (2002) says that within a lifetime, on average, fifty percent of all male and female Americans will be victims of aggression from their intimate partner. They proclaim that the most popular explanation for the conveyance of domestic violence must be awarded to the social learning theory. One of the most accurate theories as to why people choose to be violent in their adult years is due to their exposure to violence as a child (Hines, Saudino 2002).Hines and Saudino (2002) also mention that in the earliest studies performed to measu re violence, children who were punished through the means of physical abuse were significantly more likely to continue that behavior into their own families. Weldon and Gilchrist (2012) interviewed six male perpetrators serving prison sentences in Scotland. They asked the offenders general questions about their thoughts and feelings in regards to violence. They also included questions about each offenders past and childhood experiences.The most common answer given by the perpetrators was that violence was normal to them (Weldon and Gilchrist 2012). It was something that they were used to and had seen many times. These findings however, did not only apply to intimate relationships, but rather to life in general. They exhibited violent behaviors throughout their life. Overall, studies that focus on the power of the social learning theory, have found that there is a strong correlation between witnessing or being victim to abuse in childhood, and being violent towards your intimate part ner in adulthood.Physiological Factors Research on domestic violence has focused on several areas which are believed to play a role in explaining abusive behavior. The first area discussed is a predisposition to increased heart response to slight agitation. Lavinia et. al. (2010) describes a study that calculated physiology factors on a person’s predisposition to aggression in intimate relationships. The study looked at physiological reactivity, which is defined as changes to a person’s body brought about by a stimulus.The study found that individuals that are antisocial and violent are more likely to be predisposed to being abusive to their partner. To prove their findings, they found abusive males to interview. The males had to be seriously violent ranging from shoving to weapons. They also must have been abusive six or more times to be included in the study. They also found an equal amount of non-violent partner’s to interview as well. The experiment involved the participation of not only the males, but the participant’s partner as well. They experiment had the couple talk about two things in which typically provoked discourse.While the conversation was in progress, the researchers measured the both party’s heart rate, pulse transmission to finger, and the amplitude of finger pulse. However, the study did not find any increase in the violent husbands compared to that of non-violent husbands. Nevertheless, the wives of the violent partner exhibited an increase in finger pulse amplitude and finger pulse transit time than that of the non-violent partners. The study suggested that, due to the increase in pulse, wives of abusive husbands experience heightened feelings of rage, sadness, worry and fear (Lavinia et. l. 2010). This study shows that research does not support that abusive partner’s experience heightened cardiovascular response to discourse compared to that of non-violent partner. In a different study, Shorey e t al. (2011) discusses how much genetically predisposition to trait anger plays a role in female aggression towards their male partner. In the context of this study, trait anger is defined as the genetic predisposition to respond in anger when placed in situations involving large amounts of stress.The study found that there was indeed a correlation between women that suffered from trait anger and those that were prone to express violence towards their partner. The individuals were asked to give their information such as age, salary, ethnicity, whether or not they were married, and the length of time that they have been in their current relationship. The same participants were then given a test called State-Trait Anger Expression Inventory (STAXI) (Shorey et al. 2011). This was used to review the participant’s trait anger.The women were asked questions about themselves in order to see if they usually feel angry. The questions were answered on a scale from one to four in (one b eing not at all, and four being very often). The test was proven to be accurate. When examining the results, the researchers found that 58 percent of the women struggle with trait anger. This proves that Shorey’s et al. (2011) prediction about the direct correlation with inherited trait anger to physical and psychological abuse was accurate. This study (Shorey 2011) serves to prove that our genetics and physiological response are involved in how we act.Some people are more prone to violence due to inherited anger. This makes it much more difficult for them to control their inclination to be violent towards the ones they love. This does not make committing crimes by any means acceptable, however it does give law enforcement something to consider when dealing with cases involving domestic violence. Each of these two studies considering the physiological ramifications on behavior have shown that there is more to the criminal than just deviance. For some, it is a part of their bo rn instinct. AlcoholIn the criminal justice field, it is universally known that alcohol tends to be a factor in most of the crimes that people commit. McKinney et al. (2012) mentions that there has been a consistent link between the alcohol outlet and domestic violence. One of the largest reasons for intimate partner violence is the abundance of alcohol consumption (McKinney et al. 2012). Testa and colleagues (2011) say that men who drink heavily are at a much higher risk factor to be abusive towards their intimate partner. They say that just one partner using alcohol can significantly increase the likelihood of domestic violence.In a study (Livingston 2010) preformed in Australia, researchers found that 25 percent to 50 percent of all domestic violence cases involved the use of alcohol. This study that suggests that limiting the availability of alcohol would then reduce the amount of domestic violence. This particular experiment incorporates a longitudinal relationship among domest ic violence and the amount of alcohol that is available within specific neighborhoods. The study used 186 different postal codes from around Melbourne, Australia. This sample represented around 85 percent of all of the Melbourne population.They examined the alcohol sales from each of those postal codes to see if there was a positive correlation between increased sale of alcohol and an increase in domestic violence. Livingston (2010) collected the data involving domestic violence from the Victorian Police Services. The raw data was taken from the Law Enforcement Assistance Program (LEAP). All of the data is in regards to family incidents between the years 1996-2005. One factor that must remain under the spotlight is that not all cases of domestic violence were reported or responded to by the police.They performed a cross-sectional longitudinal study. The results found that there was a small, yet highly significant positive correlation between the increased sale of alcohol and an incr ease in domestic violence. Waller and her colleagues (2012) preformed a study that focused on effects of alcohol sales and the rate of domestic violence within a large demographic areas. This study included people involved in an intimate relationship, but not necessarily married. They hypothesized that alcohol use would be directly and indirectly correlated with domestic violence within intimate relationships.The study (Waller et al. 2012) took students from Wave III of the National Longitudinal Study of Adolescent Health which was preformed originally in 2001 to 2002. The sample consisted on 52 middle schools and 80 high schools. They used ordered sampling methods for selection. The study tried to get responses from all students that were originally in Wave III, however the response rate was only around 77. 4 percent. They were administered questions via laptops. The study included questions about how often they felt threatened, hit, injured, etc. n the past year by their partner. Once that information was obtained from the participants, the researchers collected the data of alcohol outlets in those individual’s neighborhoods. They also measured the participant’s consumption of alcohol within that previous year. However, after collecting the data, the researchers found no bivariate relationship between the use of alcohol and the likelihood of domestic violence. Although there are many statistics that claim that alcohol affects the like hood of intimate partner violence, we have seen that may not always be the case.Over all, research shows that alcohol consumption increases one’s risk of domestic violence, but as seen in the study conducted by Waller and her colleagues, not all studies come up with that same conclusion. References Corvo, K. (2006). Violence, separation, and loss in the families of origin of domestically violent men. Journal of Family Violence, 21(2), 117-125. doi: 10. 1007/s10896-005-9011-1 Hines, D. , & Saudino, K. (2002) . Intergenerational transmission of intimate partner violence: A behavioral genetic perspective. Trauma, Violence, & Abuse, 3, 210-225. doi: 10. 177/15248380020033004 Kernsmith, P. (2006). Gender differences in the impact of family of origin violence on perpetrators of domestic violence. Journal of Family Violence, 21(2), 163-171. doi: 10. 1007/s10896-005-9014-y Lavinia, P. , Sullivan, E. , Rosenbaum, A. , Wyyngarden, N. , Umhau, J. , Miller, M. , & Taft, C. (2010). Biological correlates of intimate partner violence perpetration. Aggression and Violent Behavior, 15(5), 387-398. Livingston, M. (2011). A longitudinal analysis of alcohol outlet density and domestic violence. Addiction Research Report, 106, 919-925. oi: 10. 1111/j. 1360-0443. 2010. 03333. x McKinney, C. , Chartier, K. , Caetano, R. , & Harris, T. (2012). Alcohol availability and neighborhood poverty and their relationship to binge drinking and related problems among drinkers in committed relationships. Journal on Interp ersonal Violence, 27(13), 2703-2727. doi: 10. 1177/0886260512436396 Shorey, R. , Brasfield, H. , Jeniimarie, F. & Stuart, G. (2011). The association between impulsivity, trait anger, and the perpetration of intimate partner and general violence among women arrested for domestic violence.Journal of Interpersonal Violence, 26(13), 2681-2697. doi: : 10. 1177/0886260510388289 Waller, M. , Iritani, B. , Christ, S. , Clark, H. , Moracco, K. , Halpern, C. , & Flewelling, R. (2011). Relationships among alcohol outlet density, alcohol use, and intimate partner violence victimization among young women in the united states. Journal of Interpersoanl Violence, 27(10), 2062-2086. doi: 10. 1177/0886260511431435 Weldon, S. , & Gilchrist, E. (2012). Implicit theories on intimate partner violence offenders. J Fam Viol, published online. doi: 10. 1007/s10896-005-9014-y

Reflective Learning Term Paper Example | Topics and Well Written Essays - 750 words

Reflective Learning - Term Paper Example They represent a learning cycle, repeated innumerable times in an individual’s life. According to Kolb, the learning can start anywhere in the cycle but is most efficient if the full circle is completed. Here is an example of the learning cycle: someone has a negotiation about his salary with his superior. His idea of negotiation is that you have to be firm, show confidence and no weakness to your negotiation partner. So he slams down an offer, but it ends badly. His superior rejects. After this experience, he observes others to see if other strategies can work better. It can be direct observations, but also movies, or memories that he hasn’t reflected over before. In the step of abstract conceptualization, he discusses with others and maybe read something on the subject. He tries new strategies in everyday situations, and evaluates them in new reflective observation. When it’s time for a new discussion about the salary, he has a lot better understanding and new methods to reach the result he wants. It is off course also possible that this person goes through a learning cycle with only three of the steps: he acts, observes, and tries a new action. Another possibility is that he never realizes the opportunity for learning, and just leaves the first experience cursing his boss. Another central concept from Kolb is that of learning styles. The theory is that every person has two dominant of the four concepts above, that make up their learning style. Since four combinations are possible, there are four major learning styles. They are accommodating, diverging, converging and assimilation. Accommodating learners are intuitive, practical and experimental. Diverging learners gather information, use various viewpoints and are imaginative and artistic. Converging learners are problem-solvers and use a technical and practical approach. Assimilation learners are analytical and use reason and logic in their approach. There are also other ways to express

The law of contract Essay Example | Topics and Well Written Essays - 1000 words

The law of contract - Essay Example Ans. According to Law of Contract exclusion clause in the body of the contract between two parties will be a term incorporated in the contractual text to lessen and restrict the liability of one or the other party to the contract. Whereas, the Limitation Clause instead of excluding liability of a party to a contract tends to limit the liability as the name suggests. An Exclusion clause will only be enforceable if it is validly incorporated in the text of the contract and it is clear and not ambiguous in its meaning, there should not be any statutory hindrance over it. (a) It should be a contained in the contract in a clear and unambiguous manner and there should be no confusion regarding the meaning of the clause, in addition to that both the parties must be aware about the inclusion of the clause in the text of the contract. Ans. ... In comparison to an Exclusion clause, a Limitation Clause is more likely to be enforced. 4. What are the different ways in which terms (exclusion clauses) may be incorporated into a contract Ans. The different ways in which terms(exclusion clauses) may be incorporated into a contract are the following : (a) It should be a contained in the contract in a clear and unambiguous manner and there should be no confusion regarding the meaning of the clause, in addition to that both the parties must be aware about the inclusion of the clause in the text of the contract. (b) If the language or meaning of the Exclusion clause is not clear then in that case the party that is going to affected more by it should be forewarned before making of the agreement. (c) Standard Terms and Conditions according to Trade practice should be incorporated in to the contract. (d) An Exclusion clause can be incorporated in the contract by showing similar regular and consistent dealings between the parties in the past. 5. What is meant by the contra proferentum rule Ans. By Contra proferentem rule it means that if there is a clause in the contract that carries more than one meaning and is unambiguous and not easy to interpret than in that case that unambiguous and confusing term will be taken against the party that forced its inclusion or the party who drafted the contract and incorporated the said term. In other words the term will be read in favour of the second party that didn't insist on its inclusion in the body of the contract. 6. What are the main differences between the provisions of the Unfair Contract Terms Act 1977 (UCTA) and Unfair Terms Consumer Contracts Regulations 1999 Ans. The main difference between the provisions of the

Use of Computers in Hotels Essay Example | Topics and Well Written Essays - 2750 words

Use of Computers in Hotels - Essay Example One of the trends he identified was the shift from an Industrial Society to an information society. The level of change involved is so fundamental yet so subtle that we tend not to see it or if we see it, we dismiss it as overly simplistic and thus we ignore itThe problem is that our thinking our attitudes, and consequently our decision-making have not caught up with the reality of things. Naisbitt further stated that Apple Computers, a pioneer in the field of personal computers, estimated that total sale of computers would grow at least 40 percent annually. On the other hand, scientific and technical information was increase 13 percent per year at the time of this study and was expected to increase to 40 percent per year thus creating the need for more powerful information systems and increasing the population of scientists. Naisbitt added that this level of information was clearly impossible to handle by present means. Information had become very important to modern society. In most business, demographic information about client was not readily available in the hotel industry however it was very easy to track down the demographic information of client because every guest or group must register when checking in. Goffe and Parker stated that computers can greatly simplify the task of managing large masses of information. Unfortunately at the time of this study the lodging industry in the world was about a decade behind other industries in incorporating computer techniques. Even in those hotels that were using computers their use was usually limited to the front office, and marketing applications were usually an after though if they were not neglected entirely. The problem of insufficient computer use in hotel marketing was discussed by several other experts in the hospitality industry Taylor (2006) stated that the sales and marketing function have always been deemed beyond the reach of available technique. Sales people still wrote booking in diaries instead of entering information in computers. With so many variables impacting upon hundreds of bookings, it was very easy to make costly mistakes for example salesmen might forget to log their room sales in diaries causing rooms to be overbooked. Insufficient computer use can also cause problems like delays in replying to customers about the availability of rooms because data is not immediately available to Goffe and Parker (2005:110); computer if utilized properly could bring many benefits to hotel marketers. They added that computers can be used for following things very easily. In Advertising, Sales promotion and Publicity areas: Measurement of the effectiveness of different advertising and commercials. Measurement of the effectiveness of different sales promotion. Preparing past clients mailing list. Monitoring of advertising budgets. Preparing publicity budget. O'Connor (2004) elucidates the different functions of computers for marketing purposes: In Sales and Sales Management: Preparation of market share analysis. Tracking and ranking how much business each geographic market brings. Preparing potential clients list. Tracking the reasons for cancelled

Alternative Dispute Resolution( ADR)Clause Assignment

Alternative Dispute Resolution( ADR)Clause - Assignment Example All attempts will need to be made before approaching the professor to act as an arbiter for the case. However once the professor is involved in the case, there can be no contesting the decision and the decision will be considered to be final. Negotiation is where the parties will work together to resolve an issue or dispute which might arise from the learning team meetings or the team work efforts, among themselves. The negotiation can be set out by means of a written request to bring out the issue of the dispute, controversy or the claim and the solution suggested or requested. There is a faith of goodwill that ensures that the parties will abide by the proceedings and the settlement that is got from the negotiated proceedings. In case any of the parties is not satisfied by the result of the negotiation, then the professor will be introduced to perform arbitration. Mediation will be conducted when the issue is between two members of the team. Here the two members will choose one person as the mediator and this individual will be responsible to make the decision for the dispute (Nolan-Haley, 2008). Here the two parties and the mediator will meet to discuss the issue and the possible solutions. The mediator will be a third party with no common interest in the matter. The mediator will have to make the decision for the issue. This can be contested and again the professor will be brought in for arbitration. Arbitration will be conducted by the professor, in the case where the negotiation and mediation do not provide satisfactory results. Here the professor will meet both parties and will need each of them to provide in writing the dispute and the solution that has been got from the previous proceedings (i.e. mediation or negotiation) (Ware, 2007). Once this is got the two parties and the professor will meet and a discussion will proceed where the two parties will state their views

Memo for the American corpration Essay Example | Topics and Well Written Essays - 500 words

Memo for the American corpration - Essay Example Foremost, I would like to introduce what SafeHarbor is all about and why I handpicked it among the many in the market. SafeHarbor Technology Corporation, has been in the business of designing and rapidly deploying online support environments that transform and optimize customer support interactions for 10 years now. Based in Satsop, Washington, the company has implemented more than 100 customer support solutions. SafeHarbor caters to businesses of all sizes, and some of them are big companies like American Airlines, Cingular, Cox Communications, IBM, State of Washington, SunTrust Banks, T-Mobile, Vizrea and Washington Mutual. Apart from being the lead in the industry, SafeHarbor is peopled by professionals and experts who are not only knowledgeable in their field but also provide customized and prompt servicing to their clients. Our main concern about exporting live customer data from UK to the NY HQ can be solved by SafeHarbor’s Multi-Channel Customer Support which provides our customers the following multiple ways to get answers or help whenever they deem necessary, as this feature can be accessed 24/7: With this product, our customers are kept satisfied by prompt, readily available responses to their concerns in multiple ways from which they can choose. Also, for the company, our concern on live customer data exportation is answered in that everything will be secure through this product. Some of the advantages we can get from using this product and by engaging SafeHarbor’s services are: Finally, I can set an appointment with SafeHarbor’s Vice President of Marketing and Product Management, Harry Thomas for a more thorough discussion on this and also on the costs and obligations entailed for this

Peter Enterprises Essay Example | Topics and Well Written Essays - 750 words

Peter Enterprises - Essay Example An income statement represents a company’s activity or performance over a period of time. The income statement is intended to provide investors an accurate depiction of the company’s profitability over the period of time (in this case 1 year). This includes mainly the sales and cost figure of the company over the period of time. Cost which are capitalized are included in the category of either depreciation or amortization expense. The income statement is generally full of accounting assumptions; fundamentally the matching principle. The matching principle dictates that the revenues of the company should be matched with the expenses incurred during the period. Any accrued sales (Credit Sales) or expense is accounted in the income statement. Earnings from the income statement are essential criteria when investors evaluate or opt for a company to buy its share. It is earning power of the company which lifts its value and attracts the investor about the profitability of the company. In the case of Peter enterprise, it has generated a net profit of  £444,400 which is 14.79% of the sales. This implies that the net profit margin is 14.79% which is promising; however the company is profitable but we cannot jump into any conclusion unless we compare it with the industry standards for the particular year or a company which has risk similar to the Peter enterprises. (c) Peter Enterprises Balance Sheet As of 31 December 2009 Assets          Current Assets    Accounts Receivable 294,800 Stock 287,000 Total Current Assets 581,800       Fixed Assets    Machinery 1,480,000 Equipment 163,100 Motor Vans 148,700 Total Fixed Assets 1,791,800       Total Assets ?2,373,600       Liabilities          Short-term Liabilities    Trade Creditors 273,000 Bank Overdraft 54,000       Long Term Liabilities    Loan 1,500,000       Total Liabilities ?1,827,000       Net Assets or Shareholder's Equity ?546,600       Capital 417,200 Add: Net Profit 444,400 Less: Drawings 315,000 ?546,600 (d) A balance sheet shows a company’s financial position at a particular point in time (Krakhmal & Day, 2010). We can determine through balance sheet that how much financially strong and economically efficient a company is. It shows how much the company owns or how much money is owed by it. The assets are financed by either debt or equity and the balance sheet can reveal important information about it. We can compute a lot of ratios using the numbers in balance sheet and compare them with the industry standards. The most common ratios are liquidity, solvency, and profitability and efficiency ratios. A balance sheet can explain how the company is being managed. For instance, a high day on receivable implies that management is not efficient in collecting money. This impacts cash flow cycle and can cause liquidity problems for the organization. Furthermore, Solvency ratios such as the Debt/Equity ratio can provide an important insight to creditors to whether grant a loan to the organization or not. It also gives an insight to shareholders about the current worth of the company. An analysis of Peter’s balance sheet shows that it has a very high Debt/Asset ratio which is equivalent to 70%. Answer 2a) Cash Forecast for the next 6 months    Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Cash Inflows                   Cash Sales* 262000 254000 268000 288000 296000 292000

Socio-economic and political environment of America Essay

Socio-economic and political environment of America - Essay Example The new racism highlighted the differences within the black community. Interestingly, the new racism also raised controversy vis-a-vis ‘old’ versus ‘new’ civil rights. The civil liberation movement of Martin Luther King based on racial differences had turned into new racism where blacks started fighting within themselves. The black community seemed to be divided on the basis of sexuality. The homosexual blacks saw themselves as victims who were discriminated because of their sexuality. Most importantly, this new racism also became the major factor for the non discriminatory practices and bridged the racial differences between white and black community. The new conscious awareness vis-a-vis sexuality and gender helped realigned social forces and reduced the racial differences. The participation of black community in the mainstream economy has seen trickle down effect. The empowerment of black community has become a reality and election of Barrack Obama as Pre sident is testament to the growing strength of blacks within and outside the American socio-political arena. The development of Rainbow Coalition as economic restructure for African Americans has become a key feature of trickle down economics that has helped black community to become economic partners in America society (Hines, pg. 591).

Importance Of Proteins And Minerals For Human Research Paper

Importance Of Proteins And Minerals For Human - Research Paper Example Magnesium is one of the major minerals without which one’s moods may be affected. Magnesium enhances proper functioning of alimentary, osteoarticular, cardiovascular and the endocrine systems which in turn affects one's moods. It has a great impact on biochemistry functions in the brain, as well as, the fluidity of the neural membrane. Therefore, deficiency in magnesium may lead to depression, hallucinations, nervous fits, tremors, hyperexcitability, insomnia, and seizures. It is also essential in the management of certain emotional problems and mental disorders (Serefko and Szopa, 2013). Additionally, consuming magnesium aids in reducing and managing some diseases such as asthma, migraine, alcoholism, renal calcium stones, arrhythmias, heart diseases and premenstrual tension syndrome. This is because magnesium helps increases serotonin levels in the brain that affects moods. Depletion of magnesium in the body, allows the sodium and calcium ions to get into the postsynaptic ne uron and exit potassium ions. The increase in the influx of calcium ions leads to the production of poisonous reactive oxygen species and nitric oxide radicals. In extreme cases, neuronal death and neuronal swelling could also occur. Moreover, deficiency in magnesium ions coupled with excess calcium ions causes brain cell dysfunction. This leads to behavioral and mood disorders including depression. However, change in moods, including depression and paresthesia resolves immediately after the administration of magnesium (Serefko and Szopa, 2013). The second most important mineral in maintaining one's moods is omega-3. Omega-3 fatty acids are the long-chain polyunsaturated fatty acids that are found in various plant and marine life. People with depressive disorders are likely to have mood swings in case omega-3 is absent in their diet. Dietary changes in the intake of fatty acids are believed to have numerous pathological consequences.

Romance and romantic medievalism Essay Example for Free

Romance and romantic medievalism Essay John Keats poem, La Belle Dame Sans Merci, presents a knight on his horse who meets a fairy lady but develops this clichi scenario into an exploration of the relationship between, the presumed male superiority and female innocence. It is a ballad that evokes medieval times. However, if one is expecting a stereotypical glorification of these, Keats rather has an interestingly critical approach to the archetypes of medieval romance and romantic medievalism. The identity of the titular female character is kept a mystery. We only know about her through the males interpretation of her. An essential point in this poem since it leads to the implicit meaning by the author. La Belle Sans Merci is a perfect example of how well-worn aspects as love such as sexual desire and unknown identity can be used to present a striking theme in a simple manner. These aspects are combined in a medieval set. The medieval setting is reinforced for the reader through the poems form. It is a ballad, which is full of fittingly old-fashioned diction and syntax. By his antiquated expression and his hypnotically monotone quadrametre, Keats achieves a mysterious and gloomy atmosphere with the first couple of stanzas of the poem. O what can ail thee, knight-at-arms, So haggard and so woebegone? (L. 5-6) To use Keatss own words, the mood is woebegone. This clearly reflects the knights emotions as the unknown individual, whose voice opens the poem, asks him about his problems. This is clear evidence that the whole poem is actually a dialogue between the knight and an unknown character possibly identifiable with the poet. The first two stanzas start with a question a clear indication of antiphonal or dialogic style being employed. O what can ail thee, knight-at-arms, Alone and palely loitering? (L. 1-2) This unknown character is the speaker in the first three whole stanzas, after which the knight begins to tell of his surreal experience with this fairy. At this point, one could argue that it starts to get interesting. The keywords throughout the next five stanzas are presumed control, power, desire and superiority. Obviously the knight is somehow intrigued by this fairy. In what way, remains ambiguous in keeping with Keatss poetic style. Nevertheless, no doubt is left when one examines the diction that the knight has a distinct sexual desire for her: She lookd at me as she did love, And made sweet moan. (L. 19-20) The knight interprets her sweet moan as sexual and romantic interest even though he has no reason whatsoever to believe that the fairy is essentially interested: And sure in language strange she said I love thee true! (L. 27-28) It is rather his own presumption that makes him imagine this. Thus a still more surreal dream scenario arises within an already surreal world of fairies etc. This way of thinking leads the knight into a form of blind obsession. It is this ecstasy that leads him to his misery. From stanza five where he makes a garland and bracelets for the fairy until stanza eight where she takes him to her elfin grot, he presents himself is in charge of virtually everything. I set her on my pacing steed, (L. 21) She found me roots of relish sweet (L. 25) These are clear examples that indicate that either the knight acts upon the fairy or the fairy acts for him in keeping with conservative sexual roles. It can be assumed that this situation suits him since he nothing else saw all day long. The knight does not hesitate to convey his emotions nor is he the mysterious part in this poem. But loss of control appears in stanza eight when the knight enters onto the fairys territory. Certainly he goes to her home and he may go further than that: She took me to her elfin grot, And there she wept and sighd full sore, (L. 29-30) The subject of the sentences changes; now it is the fairy that acts and the knight becomes a passive character in the poem. This should be considered as the moment when the knights misery commences. Another, yet stronger example of this is found in the next stanza, And there she lulled me asleep, (L. 33). This line is attention-grabbing since it is not only the start of the knights misery, but can also be seen in the context of the male losing out in the battle between sexes. Suddenly the feminine character gets the upper hand in a poem set in the middle ages and written at the beginning of the 19th century. The clichi -like knight on pacing steed strong, handsome and should win over every lady that he desires. Instead he is utterly unmanned by the extremely sexy feminine fantasy character, whose identity remains a mystery throughout the poem, while his psyche is bared. The mysterious identity of the fairy and the ambiguity as to whether she did anything at all to the knight other than leave him is central to Keats message. If we knew more about her, it would no longer be a mystery to the reader whether she did entrance him or whether he has just fantasized all those Pale warriors, Death pale were they all; They cried La Belle dame sans Merci, Hath thee in thrall! Assuming the fairy was human, she could most probably speak and not only make sweet moan. Just one statement from the fairy could lead to a clarification of the real causes of knights apparently miserable situation and that would kill the point of the poem. In conclusion, Keats succeeds in revitalizing the medieval ballad form and romance themes by inverting their clichi s. He thereby succeeds to a high degree in questioning male assumptions of sexual dominance and the reader is left with a lot to think about after reading the poem.

Mother Teresa And Martin Cooper Leadership Styles History Essay

Mother Teresa And Martin Cooper Leadership Styles History Essay According to the Beahvioral Theories of leadership, successful leader is based in definable, learnable behavior. Leaders are not only born but they can also be made. This assignment is based on social cognitive theory of behavior by Bandura and Walters. This theory is about self efficacy comprising three common factors that are People, Environment and Behavior. It also explains the behavior of the people that they acquire at certain situation. Main focus of the theory is on the self efficacy, goal orientation, confidence, and emotions, participation, cooperation and making broad vision to face certain situation. 3. Leadership examples: This assignment explains the leadership behavior of the leaders in different fields. The following examples of leadership are showing the traits, abilities and skills of the leaders. Leadership behavior of different leaders has been identified in three different areas of life i.e. Economic, Social and Technology etc. 3.1. Economic leaders: Economically developed countries have been able to reduce their poverty level, strengthen their social and political institutions, and improve their quality of life, pressure natural environments and achieve political stability. Economic leadership is also related to enhance the economic growth of the country. Economic leadership is about runningthe country with prosperity, equality, belief in values and political stability etc. The examples used here to describe the economic leadership qualities are Warren Buffett and Henry Clinton: 3.1.1. Warren Buffett: Warren Buffett is known as the Guru of investment. He is the superior business leader and American investor which is often known as Oracle of Omaha or the Sage of Omaha. He is the third richest person in the world ranked by Forbes magazine in September 2007 behind Carlos Slim and Bill Gates. According to Spindler (2011) Warren Buffett as a child loved to play with numbers. He remembered the scores of baseball and horseracing odds. At a very early age he started making money. He setup a stand of gum at his home and started selling them to the passersby at the age of five. Later on he also sold lemonade and along with his friends he collected golf balls from local golf course, separates them according to their brand name and do their packaging again for resale purpose. According to social theory of cognition he was a visionary leader. He was a goal oriented person. Warren Buffett learned from his mistakes and always directed his efforts to turn his mistakes into positive signs. His favorite books were about how to make money. Buffett was introduced by his father to the world of stock who opened his own stock brokerage firm. He even bought the shares of Cities Services for himself and for his sister. Here he learned his 1st lesson of life that was the patience. Because he sold those shares earlier in the market without keeping in view the price index changes and when he sold the shares. The price increased to a certain level which gave him a lesson of doing business. Mr. Warren Buffetts investment strategies and leadership style are practical smart thinking examples. The main series of work of Mr. Buffett was to analyze the continual approach of analyzing marketing trends, investment strategies and the ability to place management resources of right aptitude in a right position. Investment needs innovation, risk taking and creativeness that was Buffets approach . (Kalibre, 2006). The idea that Mr. Buffet focus was to compete within the competitive advantage. can be applied in all the fields of life. Mr. Buffetts idea has allowed him to live a continues successful life with minimal stains. He started as a self employed person and today leads a number of business . Buffet approach was to be very honest to his partners and committed to his work. 3.1.2. Henry Clinton: Thinking of the economic leaders the name that plunged into the mind of anyone is Henry Clinton. Hickman (2009) stated that General Henry Clinton was born in 1930 and he was a major General when he returned to America to aid in putting down American Revolution. He also led a failed attack on Charleston and developed a successful plan for the battle of long island. He also took part in Battle of Bunker Hill. In this plan of Bunker Hill British wanted to attack the American defenses to evacuate America and getting hold of it. But America under the leadership of Henry Clinton developed patriotic intentions and stopped the Battle of Bunker Hill. However, the Commander of British Troop worked with Henry Clinton and following his ideas they led a victory at the battle of long island. He also acted as a British Commander-in- Chief in North America. According to theory he had a participative style and emotional as well regarding his aims and objectives. He listened to everyone and tried his level best to resolve their problems. He passed the commission and reached at a higher level. He had the advantage of strong financial background. His communication skills made him to be loved by everyone. 3.2. Social leaders: Social leaders are blessing for the people. They devote their lives and talents for the well being of their nations and for improving their society. The main purpose of the social leaders is to protect freedom, keep peace and ensure the prosperity for the people of their country. The examples that are used to describe the social behavior of leaders are Mahatma Gandhi and Mother Teresa. 3.2.1. Mahatma Gandhi: Ray (1969) stated the behavior of Mahatma Gandhi the great Socialist. He thought to be a conservative person hating the modernized system of the Western Culture. He was truly in the favor of peasants and labors. He was religious person focusing not only on the philosophy of Hindu culture but also the socialism. He did not want the modern culture in India. He wanted India to be a nation of prosperity and peace and well sufficient in political and economic resources. Gandhi did not like the socialist culture of West and the Russian Communism because he wanted a system of Communism and socialism based on nonviolence system supported by harmonization and cooperation between landlords and masses, labor and capital. Gandhi was a true revolutionist and belief in reactionary efforts. His thought was very positive that he wanted to clear the hearts of the labors and landlords and wanted to bring a revolution in the labor capital work force. Gandhi also played an important role in drawing the large number of women population into the stream of the freedom movement. He was in the favor of women as a working lady. His ideas about women changed the reforms about the women that were made in 19th century. He saw the potential force in women and he knew that women could be a better helping hand in the development of new social order in the economy. He did his best to articulate the power of the women and struggled hard to bring the women in power to do something for the welfare of nation. Although he was somehow disappointed by the ideas of other leaders who believed in this fact that women are only for household chores. He was instrumental in creating a situation in which women can come out the spheres of domesticity (Kishwar, 1985). Rivett (1965) argued that the role played by Mahatma Gandhi in achievements of Indias freedom and in challenging the traditional place of untouchables in Hindu society is generally recognized. His ideas were very unique that the Western people also adopted his ideas to have a decentralized economy. Behavioral theory proved that he was confidence about his movements and about his doings. He was very cooperative with his fallows and always made objectives while achieving his aims 3.2.2. Mother Teresa: Famous People (no date) represent that Mother Teresa was the gift of God to humanity. She devoted much of her life for the prosperity of the poor and destitute. She was famous for serving the poor and destitute. She got a Noble peace Prize laureate. She worked for the destitute people living in the slums of Kolkata. She also acted as a Roman Catholic Nun and established centre for AIDS patients and also founded a Missionaries of Charity. Mother Teresa was very helpful in nature in the early age of life. Her real name was Agnes Gonxha Bojaxhiu. She made herself busy in worship and prayers. At the age of eight her father died and she saw the turning position of her family facing the financial crisis. This was the first time when she took a step towards missionary work to carry the burden of her family. She wanted to spread the lesson of love and compassion throughout the world. For this sacred purpose she decided to become a Catholic nun. She worked as a teacher in St. Marys High School and was called as Mother Teresa when she made a final profession of guarantee to become the spouse Jesus Eternity. According to theory she was very participative and emotional lady and had self confidence of doing something. Whatever she achieved was based only on her self efficacy and power to do something. Hitchens (1995) argued that image and perception of the person is everything and those who are inborn with these qualities have the potential to create their own myth and bring the revolution in social life. Mother Teresa was one of those who were inborn with these two qualities. She knew what she wanted to do. She never allowed anyone to write a book on her biography but she wanted the whole nation to be as powerful as she was, she allowed writing the biography and she told that her deeds are not going to end even after her death. 3.3. Technological leaders: Technological leadership is about strategic tech planning process. It is about having a social change within the country. Effective technology leader should maximize the relationship with various people and empower others to invest and involved in planning and modifying technology (Osten, 2001). Two most famous leaders who make the world largest advancements in the field of technology are Steve Jobs and Martin Cooper. 3.3.1 Steve Jobs: Steve Jobs the founding father of Apple computer was born in California on February 24th, 1955. He created a new world industry. He was a visionary leader. He always wanted to achieve something only related to him. As a leader he was a freedom fighter, a pirate and an autocrat. Steve and Bill Gated born in the same year and both bring the revolution in technology. Steve was known as the father of world Personal Computers revolution while the bill Gates was known as the father of soft ware industry. He acted as a freedom fighter against IBM movement. He was the leader in the field of personal computing (Wright, 2006). Woopidoo Biographies Business Leaders (no date) argued about the success of Steve Jobs and explained that he was object oriented and committed person. He found the basis for operating system. Although he was known as a business and sales wizard, but now all the electronic inventions has raised the name of Steve Jobs at a higher level. He started doing job at his early life at Hewlett Packard Company. Steve Jobs also created a company called NeXT and designed aesthetic interpersonal computing. He also focused on software development and email and World Wide Web development. People recognized him because of his ethical behavior and believed tamper toward his work. He was very confident about his work and very mature thinker. Behavioral theory of leadership proved that he was emotionally stable person. He was visionary hand goal oriented person. When his company went into bankruptcy he showed a very impressive and emotionally stable attitude. He was a true creative thinker and technological leader He was very bold and intellectual person. His thinking was broad. He looked beyond the imagination of ordinary people. He was born to be successful. He was very helpful and provided a working hand to grow Apple from a company to a successful industry today. He also helped in development of new electronic devices i.e. ipod, iphone and other personal devices. He was awarded a National Technology medal from President Reagan before founding NeXT, Jefferson Award for public Service and Entrepreneur of the Decade by Inc. magazine (Vader, 1998). 3.3.2. Martin Cooper: Martin Cooper is the name that comes into ones mind while thinking about the foremost important technological advancement in the world economy that is the cell phone. He is considered to be the pioneer of first portable handset and also the first person to make a call on portable handset. Cooper ideas were based on ease of the people. His main purpose of inventing mobile phone was to create an ease for the business personals as well as for the ordinary person while communicating with their fellows. This idea enabled him to make a device that can help the people to communicate their buddies at every place. Wendy (2010) reported that he had a very broad vision. He did not only want to create a cell phone that can help to contact with any one at any place. While designing the idea that came into his mind he thought about all aspects of this invention. He kept in min all the pros and cons. He was a visionary leader with a broad vision. He worked with many researchers and inventors and spread his invention in different areas of life. He had a very wide list of his inventions. He provided a helping hand to a researcher named Richard Roy and founded ArrayComm company which was more efficient in cellular communication and antennae was used to make internet more people friendly. He spent all his life in developing and inventing the new technologies related to communicating. His achievements and leaderships styles were all based on cognitive theory of leadership. He set the goals before taking steps and involved his partner to be his fellows during his project. As a visionary leader his mind ma de him alert before the right time about the increasing demand of internet broadband. So his work on broadband internet availability had taken a big step forward and made the people having the access of internet more feasible, inexpensive and practical way of communicating.

Luck Be a Lady: Ciroc Vodka Advertisement

Luck Be a Lady: Ciroc Vodka Advertisement LUCK BE A LADY: CIROC VODKA ADVERTISIMENT Stephen Astwood Luck Be a Lady Virtually every rapper today is citing British alcohol maker Diageo’s CIROC Ultra-Premium Vodka in their lyrics. The brand seems to have found an interesting niche, more specifically that of the premium liquor market. CIROC’s â€Å"Luck Be a Lady† advert, synonymous with the song of the same name made famous by Frank Sinatra, calls upon a all-star cast with public celebrities like hip-hop entrepreneur and investor in CIROC Sean ‘P. Diddy’ Combs, and a assortment of male actors and female models. The men are elegantly dressed in suits with Combs (2011) first statement suggesting the strategy of the campaign, â€Å"We have arrived.† He urges them to go out and amass millions of dollars, wanting the practice become a regular habit. Combs (2011) first full statement is, â€Å"Fellas, we have arrived†¦we gone win a couple million, break the bank out here, then we gone do it all over again.† The ads next scene is them disembarking a priv ate jet in Las Vegas, where there are beautiful women to greet them with actual shots of CIROC. (Jernigan, Ostroff Ross, 2005) says, â€Å"In modern alcohol markets, the advertising and promotion of alcohol are central to the product itself. Whereas in earlier eras, alcohol may have been marketed based on the quality, purity, and price of the product, now the identity of the brand is paramount† (p. 314). This campaign strives to tell the story that connects a life of luxury and leisure with the product itself. The commercial successfully fills the objective of the formerly mentioned narrative, and encapsulates the sensation of attainment one can appreciate with having consumed CIROC. However, the representation of this lifestyle associated with a brand can have false consequences when classism and consumption becomes more than the product itself (in this case CIROC), and more about trying to keep up with the exemplified way of life. It is of no surprise that the ad echoes th e culture of which Sean ‘P. Diddy’ Combs is a pioneer; that of hip-hop, which today is full of images purporting classism, consumerism and to put in urban vernacular, swag over substance. The campaign pays homage to Sinatra and his contemporaries the ‘Rat Pack’, with Combs (2011) telling Soul Culture Magazine that, The Rat Pack defined the art of celebrating in style. I cannot imagine a Spirit more suitable for commemorating life with family and friends than CIROC; a brand that has become synonymous with celebratory occasions.† Thorstein Veblen (1979) says that, â€Å"In order to gain and to hold the esteem of men it is not sufficient merely to possess wealth of power. The wealth or power must be put in evidence, for esteem is awarded only on evidence† (p. 24). As Combs (2011) declares, â€Å"We have arrived†, it not only takes into account the physical arrival at a private jet facility, but the arrival to a height of social status. The depiction of this status in the ad is realized through the collection of luxury products exhibited; from the Escalades, private jet, the many of beautiful women, and of course Las Vegas, which is symbolic for infamous gambling, one of many facets that endorse pleasure as a main motivation for using it as a location to film. Merchandise like this form the basis, or give confirmation to what Veblen (1979) notes as, â€Å"putting wealth and power in evidence† (p. 24). It is contrasted with the fact that they are just drinking a brand of vodka; it connects C IROC to these high-end products. Essentially, the ad is making the statement that CIROC is not just one of the many premium liquor brands, it exceeds the others’. Particular focus is given to excess—gambling in the casinos. While the characters mention that they are looking to â€Å"rake a couple million† and â€Å"break the bank†, inferences are that they are looking to spend a great amount of money. If they are talking about millions, expandable wealth is no object to them. Throughout the advertisement we are bombarded with messages that say if you are not a part of the wealthy class, then you are not worthy. Likewise, if you buy CIROC then you will become just as happy, attractive, and successful as the people portrayed in the commercial. It has been corporate practice that marketers feed—off the uncertainties of individuals who adopt a classist attitude, seeking to elevate themselves up the economic and social ladder. Debra Goldman (2002) state s, â€Å"New-luxury consumers account for a lot of this recession resistance. They are paying premium prices not just for material things (which the old mass market supplied very efficiently) but for emotional ones: comfort, adventure, identity, and esthetic pleasure.† The commercial advocate that anything less than CIROC means you are missing out on the true emotional significance of successes and all that entails. Sean ‘P. Diddy’ Combs in an interview with the publication Adweek (2011) was asked, â€Å"What do you think your brand stands for?† Combs (2011) responded by saying: â€Å"I think I stand for aspiration. [That] hard work pays off.  People from all walks of life and all over the world look at  me and know my humble beginnings and know that everything  I’ve done has been through hard work. People respect me as a  marketer and brand builder.† As mentioned beforehand, there are countless references of CIROC in hip-hop culture today, so much so that the brand epitomizes the approach to the music. Such adoration toward alcohol in music, and specifically in hip-hop is not unique to CIROC. For example, MOET and CRISTAL, rightly having been observed as premium brands, have been used in the lyrics of Combs protà ©gà © the late Notorious BIG (1994, 1997) in which he says, â€Å"The back of the club sipping ‘Moet’ is where you’ll find me† and â€Å"Take their spots, take their keys, make my faculty/Live happily ever after in laughter/Hah, never seen ‘Cristal’ pour faster/And to those bastards, knuckleheads squeeze lead.† Miller and Muir (2004) note that, â€Å"As a cultural and commercial force, hip-hop’s impact is formidable: Coke, Pepsi, Gucci, Bacardi, Burberry, Mercedes, Nike and McDonald’s are among the brands that have used hip hop to sell themselves† (p. 178). While hip-hop was shaped from much more serious questions than which bottle to ‘pop’ in the club, it is thanks to endorsements from rappers in various lyrics that certain brands have enjoyed a substantial boost in popularity. The campaign suggests another cultural perception, and that is how the women are represented. Amico (1998) says that, â€Å"Advertisements promoted the image of women as childlike and sexy† (p. 19). From the onset of the commercial, the women appear in a role that is subservient and playful, regarding them as another expression of the luxurious life. The women have one speaking part; following a trend in advertising that rarely do female characters have a voice in a commercial unless it is for something directly marketed to women. Wood (1999) notes, â€Å"To be feminine in the United States is to be attractive, differential, unaggressive, emotional, nurturing, and concerned with people and relationships† (as cited in Turow McAllister, 2009, p. 193). These concepts are depicted in the commercial and emphasize the historic belief about gender roles that women as the protagonist are expected to serve the male. Although the women are dressed in attire that suggests profess ionalism, as with many modern women, when they are portrayed this way, women are seen as having to work their â€Å"second job† when they arrive home. There is less evidence than usual to suggest this advert is working to undercut any progress made for women’s rights. However, the message sent to the viewers here is that the men is the one with authority—the one in control, and the womans role is to serve; and just because the women appear successful and having a good time, it is only on the condition that she still carries out her principal duties as hostess. The campaign, â€Å"Luck Be a Lady† debuted in mid-December 2011 on both US televisions as well as online. Diageo said that the ad will run on various channels that predominantly are dedicated to music and sports. The 30 second version of the ad campaign aired over the holiday season collection of NBA games; however the original format is that of a short film. CIROC (2011) has stated in their campaign marketing that, â€Å"Ciroc has taken the stance that their marketing video needed not backstory, narrative arc or a connection to reality. No one in a decision-making capacity on their marketing team thought to ask whether it mattered that, there’s no reason for these people to be hanging out, that nothing remotely interesting goes on outside of the visual, and that it’s just kind of weird.† The reason for this strategy forms the basis of advertising success. The intertextuality with the â€Å"Rat Pack† gives fundamental basis to what the commercial i s endorsing. Olsen et al. (2003, 1993, 1995, and 2004) notes that: â€Å"Advertisements have become an integrated part of popular  culture which they parody, and by drawing upon socially  situated codes, myths, cultural discourse, and national  ideologies to develop resonant associations for consumer  goods, advertisements both constitute prevailing ideologies  and construct new mythologies and ideologies for commodities  through these dialogical and intertextual relationships.† (as cited in Turow McAllister, 2009, p. 134) The references made to the ‘Rat Pack’ are deliberate because the target market is already familiar with them and what they symbolize as CIROC is used as a form of product placement. It isn’t a blatant use of it, but still generates links that are already drawn by the audience’s knowledge. Just as actors, musicians, artist and the like come to personify their brand, Sean ‘P. Diddy Combs has come to personify CIROC. There are very few places and very few songs nowadays that don’t associate the two. In ‘Luck Be a Lady’ a variety of roles become closely tied to the message of luxury and success. The image of the ‘Rat Pack’ according to Combs was considered because it sought to emphasize what Strasser (2009) says that, â€Å"Through advertising, leisure becomes a goal of modern living, not just an attribute used to sell a product† (as cited in Turow McAllister, 2009, p. 25). Having the resources to live life the way the campaign projects, is a desire of most western consumers. The commercials statement is made more striking knowing the success Combs has attained personally; that this could actually be a day in the life of Sean ‘P. Diddy’ Combs. The â€Å"match-up hypothesis† is described by Till Busler (20 13) as, â€Å"The differential impact that different types of endorsers, often celebrities, have on the endorsed brand† (p. 2). Diageo notes the business has had significant growth since they affiliated Sean â€Å"Diddy† Combs. Marketing and Research Company Symphony IRI says that, â€Å"Sales (of CIROC) jumped 41% to $6.8 million in the year ended Oct. 3 2007.† Initial brand management before Combs tended to focus on the grape according to MediaCom, CIROC’s media agency until January 2011. When Aegis’ Carat (2011) took over responsibilities they said, â€Å"That whole grape story just didn’t work, because nobody really cared. It didn’t carry around enough cachet.† Through the success of advertising campaign; â€Å"Lady Be Luck†, CIROC is now positioned as a brand amongst the most successful in the world with The Spirits Business (2012) reporting that, â€Å"The sale of 1.5m cases in 2011 has helped Ciroc to become the second largest ultra-premium vodka in the US.† Combs statement to Andrew Hampp (2007) in Ad Age, summed up his relevance to the brand and the brands success in the market. He said, â€Å"I’ve branded myself as the king of celebration, and that’s what this alliance is all about.† References Amico, E.B. (Ed.) (1998). Reader’s Guide to Women’s Studies. Chicago, IL: Fitzroy Dearborn. Combs, S. (2001). Luck Be a Lady (Starring Diddy, Eva Pigford More). Retrieved from http://www.youtube.com/watch?v=iVMjRJJrQqY. Frith, K., Ping, S., Cheng, H. (2009). The Construction of Beauty: A Cultural Analysis of  Women’s Magazine Advertising. In J. Turow M.P. McAllister (Eds.), The Advertising  and Consumer Culture Reader (p. 193). New York, NY: Routledge. Goldman, D. (2002). ADWEEK: Consumer Republic. Retrieved from  http://www.adweek.com/news/consumer-republic-59788. Goldman, H. (2011). The Reel Front: Deconstructing Diddy’s Latest Ciroc Branded Film,  Ã¢â‚¬Å"Ciroc Luck Be a Lady†. Retrieved from http://therealfront.tumblr.com/post/15053011045. Hampp, A. (2007) AdvertisingAge: Hes Gone by Puffy, Diddy and Now Brand Manager.  Retrived from http://adage.com/article/news/puffy-diddy-brand-manager/121489/. Jernigan, D., Ostroff., Ross, C. (2005). Alcohol Advertising and Youth: A Measured  Approach. Journal of Public Health Policy, 26, 312-325. doi:10.1057/palgrave.jphp.3200038 . Kelly, A., Lawlor K., O’Donohoe, S. (2009). Encoding Advertisements: The Creative Perspective. In J. Turow M.P. McAllister (Eds.), The Advertising and Consumer Culture Reader (p. 134). New York, NY: Routledge. Levine, D.M. (2011). ADWEEK: Fast Chat: Sean ‘Diddy’ Combs The rap mogul on the Rat Pack, his brand and building a better mousetrap. Retrieved from http://www.adweek.com/news/advertising-branding/fast-chat-sean-diddy-combs-137229. Miller, J. Muir. (2004). The Business of Brands. Hoboken, NJ: Wiley. Stresser, S. (2009). The Alien Past: Consumer Culture in Historical Perspective. In J. Turow M.P. McAllister (Eds.), The Advertising and Consumer Culture Reader (p. 25). New York, NY: Routledge. The Spirits Business: Vodka-Brand Champions 2012. (2012). Retrieved from http://www.thespiritsbusiness.com/2012/07/vodka-brand-champions-2012/. Till, B.D., Busler, M. (2002). The Match-Up Hypothesis: Physical Attractiveness, Expertise, and the role of Fit on Brand Attitude, Purchase Intent and Brand Beliefs. Journal of Advertising, 29 (3), 1-13. doi:10.1080/00913367.2000.10673613. Toney. (2011). Soul Culture: Diddy’s Luck Be a Lady Commercial. Retrieved from http://www.soulculture.co.uk/culture-2/film-tv/diddys-luck-be-a-lady-ciroc-commercial-extended-version-video/. Veblen, T. (1979). The Theory of the Leisure Class. New York, NY: Penguin Books. Wallace, C. (1994). Big Poppa. On Ready to Die [CD]. New York, New York: Universal Music Group. Wallace, C. (1997). You’re Nobody Till Somebody Kills You. On Life After Death [CD]. New York, New York: Universal Music Group. Types of business travel: An overview Types of business travel: An overview Types of business travel Travelling on business can take many forms. Individuals may be travelling to meetings, to exhibitions to make sales calls to customers. There are also a lot of occasions when high amount of groups of people travel individually, or together, to take part in a conference or corporate. Companies that organise business travel are operating in a different market to those who organise conferences and events and are often different companies. However, overlap does occur, for example Kuoni is a well known tour operator, yet has an arm of its company which specialises in event management. Incentive Travel The incentive travel is offered by the employer(company) to the employee which is like a entertainment gift for them as they are travelling for free. This will make the employee very happy as they can rest at the same time as well as having fun which overall it effects the work rate of the employee when they are back as it will make them much more motivated to work harder in the future as they may gain another reward. What effect incentive travel gives to the employee Facilitating communication and networking opportunities, especially in senior management cheering the companys socially Having a better company loyalty Creating eagerness for upcoming company period Strengthening the relationship between the employee and the company Advantages for employees Every employee will feel very special and be satisfied in their job as the company has given them an fantastic opportunity to go for an great holiday which they have gain the award. It automatically changes the employees feelings in work by making them feel successful and thinking they are the best in that work place because they were rewarded an incentive travel. That may also mean they had one of the best performance in the sales team for that business because they were rewarded as not many people experience this trip because its not often many people being offered an incentive travel by their company. Exhibitions and trade fairs There are exhibitions and trade fairs for just about every type of product. Business people attend trade fairs to keep up-to-date on the latest development in their industry which shows they are competing with each other as the find suppliers for products and services and to network with colleagues. There are two aspects of the organisation of fairs and exhibitions. Firstly, there are companies who organise the exhibitions and sell stands to exhibitors. An example is Reed Exhibitions. They have a division, Red Travel Exhibitions, who focus on travel events. Lastly, there are many of business to be gained in organising travel to exhibitions and accommodation for attendees. Conferences and meetings The meetings industry Association (MIA) is the largest association for meetings industry for the UK and Ireland, providing support for venues and suppliers in the meetings environment. A company who wants to organise a large meeting, or conference, could approach the MIA to find out about companies who can make the arrangements for them. Corporate events Corporate events and hospitality is a specialist industry within travel and tourism that focuses on providing events, hospitality and entertainment to business clients. It can be know as a an incentive to an consumer because they have place a business with a different employer or to persuade businesses that may have not yet customers to an arrangement with the business. It is also seen as a good way for a company to network and make new business contacts. Corporate events take many forms – from lavish events at Wimbledon or the Henley Regatta to the owner of a business inviting his or her bank manager for a meal in a local restaurant. Many corporate hospitality functions are centred on sports events, such as golf championships, cricket, tennis, rugby and football matches. There are many specialist companies that handle all the arrangements for corporate events, from sending our invitations and ‘meet and greet’ services to providing catering and entertainment. Business Agencies This section is the role of business travel agents and the different types of agents operating in the industry. Role Business travel is concerned with providing products and services for business people travelling to meetings, attending conferences and conventions, and taking part in trade fairs and exhibitions. It also includes incentive travel, where holidays, short breaks and other travel services are offered to members of staff as an incentive to reach work targets. big business travel agencies are regularly performing on behalf of two parties when they take on their job. They are providing help needed by their customer, referred to as the consumer, on whose behalf they are making the travel schedules. They are also an agent for the corporation that is supplying the product. These companies are recognized as ‘principals’ and comprise airlines, hotels and car hire companies. Business travel is an increasingly important industry, since it is often ‘high value tourism’, earning hoteliers, caterers, transport providers, travel agents and a host of other companies’ signià ¯Ã‚ ¬Ã‚ cant income. Business travel is considered a high value industry because: Clients often have to travel at short notice, meaning that they are not able to take advantage of discounted advance purchase rates; Business people often use high quality accommodation; Business travel invariably includes an element of entertaining business clients Travel is often in upgraded services, e.g. business class or à ¯Ã‚ ¬Ã‚ rst class. Business travel agencies can be divided into à ¯Ã‚ ¬Ã‚ ve distinct types: 1. Independent agencies 2. National agencies 3. Global agencies 4. Implant 5. E-agent. Each type has its own particular characteristics and products. Independent agencies Across the UK, there are many independent travel agents that offer business travel arrangements. They are not part of a national chain and are often managed by the owner and a small team of staff. They may be companies that deal exclusively with business travellers, but are more likely to deal with both leisure and business clients. Unlike national agents (see below), independent travel agents are free to offer their business clients travel services from a wide range of suppliers. Independent business travel agents trade on their ability to offer their clients a very personal service, relying on word-of-mouth recommendation from satisfied customers for extra business. As well as being members of ABTA – The Travel Association, many independent business agents join consortia such as Advantage Travel or World choice in order to benefit from supplier discounts, make useful business contacts and to have their voices heard. National Agencies These are UK-based companies that are part of a national chain of travel agencies, such as Thomas Cook, Co-op Travelcare and Thomson. These agencies deal primarily with holidays and other leisure travel products, but can meet the needs of business travellers as well. Agencies that are located in parts of the country with high concentrations of companies and a large business community often generate a sizeable proportion of their turnover from business clients. Organisations of all sizes and in all sectors of the economy often need their staff to travel on business. Sole traders, members of partnerships, company directors, public sector staff, junior and senior managers, all travel from time to time on business. This could be in their local area, elsewhere in the UK, to countries in continental Europe or further afield. Implants Implants are agents operating within a business premises, so that they are on hand to look after travel requirements as needed. The agent may often work alone and is employed by a business travel agency, not by the company in whose premises they are based. E-agents As in leisure travel, there is an expanding demand for online business travel services. Some of them may be familiar with the website offering travel services, Expedia. Expedia claims that is corporate travel business, launched in 2002, is the fifth largest by turnover worldwide. Products and services Business travel agents may be dealing with small companies sending individuals on business trips to corporate clients who want all of their business travel managed. Basic services will always include: Accommodation bookings Flight bookings – either scheduled or low-cost, business, first or even economy Transfer Cars hire or rail tickets Ancillary sales, such as car parking or insurance. The agency will book accommodation for a customer and that is to find where they will stay, arrange travel such as flight bookings on specific dates, transfers to the hotel etc. Ancillary services such as insurance and parking. Management of a customer’s travel expenditures This means analysing data so that a corporation knows exactly what is being spent on business travel and where. The travel management company manage the data and make it available to the customer 24-hours a day in a spreadsheet or database. Negotiation with suppliers The agent negotiates terms on the customer’s behalf with airlines, care hire companies and hotels for accommodation which this is for the agency to find the best deals for their consumers. Products and services provided by suppliers All hotels and airlines want to tap in to the lucrative business travel market and constantly bring out new products and services to entice business travellers. Hotels offer Wi-Fi and business centres as a matter. Business customers may choose executive rooms. Even cheaper hotels, such as the premier Inn chain, offer wireless internet and meeting rooms which is what the business customers expects to have. Is Blood Thicker Than Water? Is Blood Thicker Than Water? Literature Review Draft Is Blood is Thicker than Water? Blood is thicker than water, this idiom expresses the idea that family relationships are stronger and more durable than friendship ties. This idea is reinforced through customs, traditions, and laws that give familial relationships prerogative over non-familial ties and determine who may be defined as family (Muraco, 2006). In fact this theme is so pervasive in our society that, at times, it goes unrecognized for example; should a childs parents pass away all eyes look to the next of kin or closest living relative. It is the same if there was a collection of debts that need to be paid. In the case of hospitalization in an intensive care unit, often the rule is the admittance of immediate family only. In fact, according to the Uniform Probate Code of the United States section 2-103 in the event that one dies without a will, both children and the whole of their estate go to their family (source). Many find it intriguing that it is the conventional assumption within our society that in a time of crisis, it is the presence of those we are most concerned about in our lives our family- that is of most importance. The idea that familial relationships mean more than all other types of relationships, dates back almost 600 years to 1412 (source). The fact that this idea is still prevalent today, so many centuries later, leads the author to believe that there must be something fundamentally, or qualitatively different about the relationships we have with family (mother, father, sibling), and those we have with friends. If so, what is it? The aim of this paper examines these issues and as a result suggests further research that needs to be done. networks of family support tend to be denser than friendship networks (Wellman Wortley, 1989), creating a context in which responsibilities toward family members develop (Finch Mason, 1993); responsibility is further strengthened by norms within our (Himes Reidy, 2000; Stein et al., 1998). On one hand, family relationships are continued even if there is a degree of animosity and conflict (Allan, 1996). Friendship, on the other hand, can be seen as an independent relationship that tends to be based strongly on a sense of reciprocity (Buunk Prins, 1998). We therefore expect sibling relationships to be less strongly influenced than friendships by these mechanisms. With marriage being less stable, and with the number of children falling, peer relationships potentially become increasingly important. Friendship offers a way of inventing and re-inventing the self in an authentic way throughout ones life. As such it is particularly important to women whose idea of themselves is typically rooted in social relationships. (OConnor 1999: 118) By virtue of growing up in the same family, siblings know each other intimately and develop a body of shared knowledge that may facilitate a common basis for social understanding. In 2005 Schaf, Schulman and Spitz found that siblings provide emotional support for each other, resulting in reduced anxiety that can come with being an outcast with peers. The sibling relationship ahs been shown to be increasingly valuable being as it has been found associated with lower loneliness and depression and with higher self-esteem and overall life satisfaction. Also, sibling support has been found to compensate when there is an absence of not only parental support but friendship support aswell (Anderson, 2005).. In a study about social understanding and interpersonal relationships Clarke and Dunn found that the differences in the relationship between siblings and friends are based first on the fact that there is a choice involved. Children choose their friends however they do not choose their siblings and are typically faced with living with them. They also found that sibling relationships can have attributes like hostility and ambivalence which are rarely found in friendships (2005). Among the differences between these relationships are the expectations involved. In familial relationships the emphasis is not on equality, balance, and reciprocity as is the case in friendships (Mills, Clark, Ford, Johnson, 2004). However the sibling relationship, not unlike the friend relationship requires maintenance by regular positive interaction, its does not remain ready at all times to be activated whenever the need arises (Voorspstal, 2007). The general everyday understanding of what family entails is different from everyday understanding of what friendship entails. This does not mean that family and friend relationships have no commonality, nor does it mean that people never regard friends as family or family as friends. It does, however, suggest that different forms of unity and commitment usually differentiate the two sets of relationships; specifically, the demands that family and friends generally view as legitimate to expect of each other are usually patterned differe ntly, including the consequent effect on the emotional, practical, and material resources that they are prepared to give (Ueno Adams, 2006). In 2005 a study on the sibling relationship in emerging adulthood was conducted which included interviews as part of the method. One participant gave voice to what is a common cultural belief, he wrote, I dont like my siblingsthey dont like me. If we had a choice wed never see each other again. But a family is a group of people youre stuck with for life whether you like it or not.(Leh Ruppe, 2005). Other participants reported relying on their siblings for immediate help and for care in cases of sickness. Additionally, from the qualitative responses obtained, an overwhelming number of responses contained positive comments about sibling relationships. The shift from having a non-family closest friend to having a family member as closest friend is more likely to occur amongst women, older people, lower class and, interestingly, both by getting married or by being widow(ed). That these changes in marital status lead to a shift towards a family member as closest friend is an important finding. It is well established in the literature that those who are newly separated or divorced are more likely to look to non-family members as their closest friend. This is often to avoid the feeling of being judged by family specifically parents or siblings who may have developed a good relationship with their former spouse. In the case of the death of the partner, family members are more likely to provide sympathetic support and so it is less likely that the grieving person would be made to feel judged. In the longer term, however, those who remain widowed are likely to move on from having a relative as their closest friend to having someone outside the family as their closest friend. Importantly, at various phases within the lifespan, the particular structural circumstances of peoples lives may result in both a greater reliance on friends and a reduced involvement with family (Pahl Pevalin, 2005). For example, for some young adults who are establishing their independence from their family but not (yet) started their own, that is, involved in a committed partnerships or a parental phase of life, friends may be the main component of their emotional and practical support networks (Heath Cleaver, 2003). At this time, they may have relatively little involvement with their family relationships. Without necessarily rejecting these ties, their choice is to place more emphasis on friendships with others who may be in a similar situation like unto themselves (Allen, 2008).

Black Americans Essay -- American History

Black Americans Black Americans are those persons in the United States who trace their ancestry to members of the Negroid race in Africa. They have at various times in United States history been referred to as African, coloured, Negro, Afro-American, and African-American, as well as black. The black population of the United States has grown from three-quarters of a million in 1790 to nearly 30 million in 1990. As a percentage of the total population, blacks declined from 19.3 in 1790 to 9.7 in 1930. A modest percentage increase has occurred since that time. Over the past 300 and more years in the United States, considerable racial mixture has taken place between persons of African descent and those with other racial backgrounds, mainly of white European or American Indian ancestry. Shades of skin colour range from dark brown to ivory. In body type black Americans range from short and stocky to tall and lean. Nose shapes vary from aquiline to extremely broad and flat; hair colour from medium brown to brown black; and hair texture from tightly curled to limp and straight. Historically, the predominant attitude toward racial group membership in the United States has been that persons having any black African ancestry are considered to be black. In some parts of the United States, especially in the antebellum South, laws were written to define racial group membership in this way, generally to the detriment of those who were not Caucasian. It is important to note, however, that ancestry and physical characteristics are only part of what has set black Americans apart as a distinct group. The concept of race, as it applies to the black minority in the United States, is as much a social and political concept as a biological one. Blacks Under Slavery: 1600-1865 The first Africans in the New World arrived with Spanish and Portuguese explorers and settlers. By 1600 an estimated 275,000 Africans, both free and slave, were in Central and South America and the Caribbean area. Africans first arrived in the area that became the United States in 1619, when a handful of captives were sold by the captain of a Dutch man-of-war to settlers at JAMESTOWN. Others were brought in increasing numbers to fill the desire for labour in a country where land was plentiful and labour scarce. By the end of the 17th century, approximately 1,300,000 Africans had landed in the New World... ...r education for blacks, and for the first time black students began to appear in colleges that had previously been all white. In the 1970s the percentage of blacks attending college increased markedly, but in the 1980s blacks lost ground. Although desegregation of the public schools in the South proceeded slowly for the first decade after the Brown v. Board of Education decision, by 1969 school districts in every state were at least in token compliance with the 1954 ruling. By that time all forms of de jure segregation had been struck down by the courts. De facto school segregation continued, however, in large part because the communities the schools served were segregated in their residential patterns. This was particularly true in large urban areas and more prevalent in the North than in the South. One method adopted to overcome such segregation was to bus children across school district lines in order to achieve racial balance in the schools. This caused major controversy and led to instances of violent opposition . The overwhelming majority of black children now attend formally integrated schools, although they may have little contact with white pupils even within the schools.

Values and Technology in Ibsens An Enemy of the People and Becketts Waiting for Godot :: comparison compare contrast essays

Values and Technology in Ibsen's An Enemy of the People and Beckett's Waiting for Godot Literature has been an outlet for authors to express the importance of human values to the literate public. However, even before a good majority of the general public was literate, there were people who learned various stories either from the bible, historical stories, etc. This gave the public a chance to see a story and take the different lessons out of the play. The public could decide whether or not to utilize the lessons in their daily lives. In two different plays ("An Enemy of the People" and "Waiting for Godot"), both authors develop very different societies that display different human values, different situations that one could face in his or her own life, and how technology has helped or hindered the new developing society of today. In Arthur Miller's adaptation of Henrik Ibsen's play "An Enemy of the People," the Stockman Family is faced with many different difficult decisions to make. Dr. Stockman tests the water at a local therapeutic spa; however, when he gets the results back, no one cares to hear the truth. Dr. Stockman represents the importance of honesty in a job. Dr. Stockman has a wealth of knowledge about the chemistry and the bacteria that is causing illness to all of the people that visit this healing place. In contrast to Dr. Stockman, Peter Stockman, his brother, shows the possible corruption that can occur in positions of power. Peter Stockman ultimately shows disloyalty to his brother and is responsible for Dr. Stockman and his family's outcast and downfall. Peter Stockman is obsessed with how he is viewed in the townspeople's eyes, his re-election. This decision to betray his brother led to his nephews fighting at school, rocks being thrown into his family member's home, and possibly the death, even though it is not specifically stated in the play, of his own family members. Where is the line drawn for personal gain and happiness when it interferes with other people happiness and well being? Ibsen shows what can happen to someone (Dr. Stockman) if he is not aware of the opposing forces that are out in the world in many different forms (Peter Stockman). Ibsen shows the importance of compromise, honesty, teamwork, knowledge, and intelligence.

Notes on Ethics and International Human Resource Management

IHRM Session 18 Ethics & IHRM Ethics Ethics may be defined as an individual’s or society’s beliefs regarding what is right and wrong, or good and bad. Ethics is about how our decisions affect other people. It is also about the rights and duties of people, the moral rules that people apply in decision making and the nature of relationships in a society. Managerial Ethics Managerial Ethics refer to the standards of behavior of individual managers in their work. Four Levels of Ethical Questions in Business Societal – At the societal level, we ask questions about basic institutions, practices and behaviors in a society. For example, is racial discrimination right? Is capitalism the just system to allocate resources in a society? Stakeholder – At the level of the stakeholders of a business, such as customers, shareholders, suppliers, etc. , the ethical issues concern, disclosing correct information to customers, insider trading, relationship and trust with suppliers, etc. Internal Policy – Ethical issues relating to internal policy concern nature f employment policies, fairness of job contracts, work rules, motivation, layoffs, etc. Personal – At the personal level ethics refers to individual behavior in an organization and covers issues of honesty, professional integrity, etc. Tools of Ethics Values – are beliefs that are Relatively few in numbers Serve as a guide for culturally appropriate behavior Enduring or difficult to change Not tied to specific objects or situations Widely accepted by members of a society Values are the answers to the â€Å"why† questions. Rights – Claims that entitle a person to take a particular action Duties – obligations to take specific steps or obey the law Moral rules – Rules for behavior that often become internalized as moral values Relationships – People are related directly or indirectly in a society, which makes ethical behavior necessary Common Morality Common morality refers to the body of moral rules governing ordinary ethical problems. Some basic principles of common morality Promise keeping Non-malevolence Mutual Aid Respect for Persons Respect for Property Approaches to Ethics In the international context, there are three approaches to Ethics Ethical Relativism – The belief that there are no universal or international rights and wrongs. So, an MNC may adopt the practices that are accepted as right in each country, regardless of whether such practices are accepted as right in the home country Ethical Absolutism – The belief that an MNC should only follow what is accepted as ethical in its home country, regardless of which country it operates in. Ethical Universalism – The belief that there are certain fundamental principles of right and wrong that are universal in nature and accepted by every culture. MNCs while operating in different countries must adhere to these universally accepted principles of right and wrong. Ethics & IHRM The existence of universal principles of right and wrong is to an extent proved by the adoption by many countries of the world of certain universal codes of conduct. For examples: The UN Declaration of Human Rights Guidelines for MNEs adopted by OECD countries Caux Round Table Principles of Business The Caux Principles The Caux Round Table believes that the world business community should play an important role in improving economic and social conditions. As a statement of aspirations, this document aims to express a world standard against which business behavior can be measured. We seek to begin a process that identifies shared values, reconciles differing values, and thereby develops a shared perspective on business behavior acceptable to and honored by all. The Caux Principles are based on two basic ethical ideals: The Japanese Principle of Kyosei – which means living and working together for a common good Human Dignity – Respecting the sacredness and value of each person as an end in itself. The Caux Principles Principle 1. The Responsibilities Of Businesses: Beyond Shareholders toward Stakeholders The value of a business to society is the wealth and employment it creates and the marketable products and services it provides to consumers at a reasonable price commensurate with quality. To create such value, a business must maintain its own economic health and viability, but survival is not a sufficient goal. Businesses have a role to play in improving the lives of all their customers, employees, and shareholders by sharing with them the wealth they have created. Suppliers and competitors as well should expect businesses to honor their obligations in a spirit of honesty and fairness. As responsible citizens of the local, national, regional and global communities in which they operate, businesses share a part in shaping the future of those communities. Principle 2. The Economic and Social Impact of Business:Toward Innovation, Justice and World Community Businesses established in foreign countries to develop, produce or sell should also contribute to the social advancement of those countries by creating productive employment and helping to raise the purchasing power of their citizens. Businesses also should contribute to human rights, education, welfare, and vitalization of the countries in which they operate. Businesses should contribute to economic and social development not only in the countries in which they operate, but also in the world community at large, through effective and prudent use of resources, free and fair competition, and emphasis upon innovation in technology, production methods, marketing and communications. Principle 3. Business Behavior: Beyond the Letter of Law Toward a Spirit of Trust While accepting the legitimacy of trade secrets, businesses should recognize that sincerity, candor, truthfulness, the keeping of promises, and transparency contribute not only to their own credibility and stability but also to the smoothness and efficiency of business transactions, particularly on the international level. Principle 4. Respect for Rules To avoid trade frictions and to promote freer trade, equal conditions for competition, and fair and equitable treatment for all participants, businesses should respect international and domestic rules. In addition, they should recognize that some behavior, although legal, may still have adverse consequences. Principle 5. Support for Multilateral Trade Businesses should support the multilateral trade systems of the GATT/World Trade Organization and similar international agreements. They should cooperate in efforts to promote the progressive and judicious liberalization of trade and to relax those domestic measures that unreasonably hinder global commerce, while giving due respect to national policy objectives. Principle 6. Respect for the Environment A business should protect and, where possible, improve the environment, promote sustainable development, and prevent the wasteful use of natural resources. Principle 7. Avoidance of Illicit Operations A business should not participate in or condone bribery, money laundering, or other corrupt practices: indeed, it should seek cooperation with others to eliminate them. It should not trade in arms or other materials used for terrorist activities, drug traffic or other organized crime. Laws Against Bribery The USA has passed the Foreign Corrupt Practices Act, which prohibits any US company from paying bribes in foreign countries The UN Declaration Against Corruption and Bribery in international transactions makes it mandatory for the signatories to this declaration to pass laws prohibiting bribery UN Global Compact Principles PRINCIPLE ONE Businesses should support and respect the protection of internationally proclaimed human rights PRINCIPLE TWO Businesses should make sure they are not complicit in human rights abuses PRINCIPLE THREE Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining PRINCIPLE FOUR Businesses should uphold the elimination of all forms of forced and compulsory labour PRINCIPLE FIVE Businesses should uphold the effective abolition of child labour PRINCIPLE SIX Businesses should uphold the elimination of discrimination in respect of employment and occupation. PRINCIPLE SEVEN Businesses should support a precautionary approach to environmental challenges PRINCIPLE EIGHT Businesses should undertake initiatives to promote greater environmental responsibility PRINCIPLE NINE Businesses should encourage the development and diffusion of environmentally friendly technologies. Principle 10 Businesses should work against corruption in all its forms, including extortion and bribery. HR function & Ethics Studies show that HR department is involved to a great extent in drafting and implementing ethical initiatives within organizations With expertise in organizational culture, behavioral studies, change management and people related initiatives, HR is in a position to play a key role in initiating ethical conduct within organizations though everyone should be responsible for ethical conduct and behavior Ethics & MNCs For MNCs operating in widely different cultural, racial and social environments, having a self-regulatory code of ethics is even more important. The HR departments do play a key role in monitoring the ethical conduct of its PCNs, TCNs and HCNs