Summarise The Aspects Of Corporate Governance Finance Essay - Free Essay Example

Sample details Pages: 8 Words: 2311 Downloads: 7 Date added: 2017/06/26 Category Business Essay Type Research paper Did you like this example? INTRODUCTION The present stage of economic cycle we will see more companies to get delisted from ASX due to corporate failure and due breach of duty from director side. With amid fear from global recession Director must be worried that their duty will be scrutinised and they have to perform their duty with proper and intelligent manner. Australian Security exchange acknowledged the best governed companies and according to Australian Security Exchange company who lack in corporate governance or in performing director duties can collapse any time. Don’t waste time! Our writers will create an original "Summarise The Aspects Of Corporate Governance Finance Essay" essay for you Create order In this project Im summarising an aspect of corporate governance and legal provision which are necessary for the control of corporation. Here I will provide information about two companies which were listed with Australian security Exchange. One of the companies is Cazaly Resources Limited and other one is Clive peeters . Cazaly is still listed with Australian Security Exchange, but Clive peeters is now delisted due to corporate governance failure. Therefore we will summarise the aspect of corporate governance in this report and analysis the importance of director role their duties. COMPANY OVERVIEW https://t2.gstatic.com/images?q=tbn:epnu1WF9JrHSgM:https://www.cazalyresources.com.au/images/cazaly_resources.gif Cazaly Resources Limited is an Australian based diverse mineral resource company which was listed with Australian Security Exchange in October 2003. Company controls the large number of Gold, Iron ore, Uranium and base metals which are grounded in Western Australia. Cazaly Resources Limited in total control 1500 square kilometres of ground and successfully performing the project which they think will be significant in the future. According to Cazaly there company Key assets include; PARKER RANGE IRON ORE PILBARA IRON ORE WESTERN KALGOORLIE GOLD THERE POSITION IN ASX LISTED COMPANIES THERE MANAGEMENT TEAM AND CORPORATE GOVERNANCE There Equity position in ASX listed companies There for according to Cazaly following the Corporate Governance is significant to achieve the objectives in future. CORPORATE GOVERNANCE Corporate Governance does not have any legal term, but it describes the rule and practices put in place within the company to deal with its board of directors. The main aim of corporate governance is to ensure Board accountability towards its Shareholders and management accountability towards its directors. PREAMBLE OF CORPORATE GOVERNANCE Incentives for board and management Economic monitoring within the company To encourage lower capital in company Resources can be used more effectively Cazaly resources limited are following good corporate governance wit in their company. CORPORATE GOVERNANCE PRINCIPLES RECOGNISE AND MANAGE RISK Cazaly resources limited are performing the principle of Recognise and manage risk in proper manner. Financial internal controls are managed in such a manner that company can cope with financial crisis in 2009. They are so strong from the point of view of their fund handling and performing it really well. Company has made Insurance such as: Worker Insurance Liability Insurance Travailing Insurance IT sector is also protected by backed up functions and can be solved by backed up files. LAY SOLID FOUNDATION FOR MANGEMENT AND OVERSIGHT Operational Management The company has such a project that if there is any problem the managing director is approachable at any time to solve the problem. Safety in standing items will be addressed by managing director to the board. This report is review by board of directors every year. Management is given the power to overcome any non profit making objectives and to make decision which will take company towards future benefits so that they can give their opinion to the directors about what future changes should be done to make Cazaly resources limited toward profit making company in future as well SAFEGUARD INTEGRITY IN FINANCIAL REPORTING Financial status of Cazaly resources is not complex; Equity funds have been raised and exploited for the project they are performing or project them will perform in future. With these funds they will perform the business development in future. The managing director monthly report includes details of monthly spends, companies actual spend to budget and show month end cash balance, Board handles all major projects and calculate their expenditure. Financial reporting should also give the clear picture of benefits being derived from current money making project and future money making projects. RESPECT THE RIGHTS OF SHAREHOLDER Cazaly resources limited says that the right of share holders are being the most important aspect of their company and directors are the one who are liable to answer the shareholders. Disclosures of balance sheet or future projects or market criteria are being address to shareholders by the board of directors. Directors are also giving the current market criteria and share market as share holders are depends upon the share of the company. MAKE TIMELY AND BALANCED DISCLOSURE Management in Cazaly resources limited make timely disclosure to board about the projects which are going on or about the market criteria, what changes showed is done to overcome the problem. Board has a duty to tell their stakeholder about the current situation of the company. STRUCTURE THE BOARD TO ADD VALUE In Cazaly resources limited the board has an effective composition and the discharge their duties in proper manner company director Mr David McMahon has adequate responsibility toward the company. He makes joint venture with other companies to make company pillars more solid. Mr Jones managing director operation is making such adequate role in company which is helping Cazaly resources limited to grow. He is the one who help Cazaly resources limited to get listed with Australian security exchange. PROMOTE ETHICAL AND RESPONSIBLE DECISION MAKING Cazaly resources limited have made such environment in the office that there management act with due care and responsibility and that their management should comply with law and work with in standard of law. The management of comply share trading rules in proper and respective codes of conduct. The best part of this company is that there is never a conflict between the management and the board of directors. Directors of this company are obliged in their judgement to be independent and they also ensure steps to be taken reasonable to ensure soundness to board of directors. REMUNERATE FAIRLY AND RESPONSIBLY Executive directors receive fixed remuneration such as salary, even superannuation are given to directors. Board set the salary for management within the aggregate limit approved by shareholders. Reward for performing work with time and well manner is also given to the management by the directors. CORPORATE GOVERNANCE FAILURE Clive peeters was first listed with ASX in 22 /09/2005.Clive PEETERS is the company which got suspended from Australian Security Exchange On Wednesday 19th May, 2010 Steve Peteers was suspended from ASX due to fraud. COMPANY OVERVIEW See full size image Clive Peeters opened their first store in Melbourne in 2003 they where retailers in electrical and computers. After opening their store in Melbourne they opened their store in Brisbane and Sydney they were ash rival to JB HI FI and HARVEY NORMAN. Clive peeters stores carry more than 140 brands and having model of each product once they were having more than 20000 models in their store. The chairman of Clive Peeter was Mr Brain Pollock and Mr Greg Smith was appointed as managing director of the company. Company operates under two names Clive peters in Queensland, Sydney, and Melbourne, Victoria and in Western Australia as Rick Hart. The staff work for Clive Peeters was around 1300, and revenue of $535 million FY 2008. Success behind Clive Peeters is their innovation in products, commitment towards customers, customer satisfaction and growing brand recognition. Buying power of this company was very strong which was their biggest plus point. Their warehous es were located across whole Australia there for the delivery time was minimum. Their main business was building industries, Government, Education, Hospitality, Real Estate and many more. If we take their sales revenue it was $457.2 million in 2007 and gone up +17% in 2008 to $534 in 2008, and gross profit from $120.5 in year 2007 to $141 in year 2008. REASON BEHIND CLIVE PEETERS COLLAPES The reason behind collapse of Clive Peeters was its failure to cope up with corporate governance. In the year 2009 it was discovered that the Clive Peeters payroll manager, Sonya Causer has inflated company payroll expense falsely to her account. She had done this by using company online banking system. Sonya has stolen around $20million from company account and by that money she purchased 43 properties and 3 cars. Under ASX corporate governance Clive peeters failed the duty of corporate governance which was structure the board to add value Structure the board to add value means: Companies should have board of an effective composition, size and commitment to adequately discharge its responsibilities and duties. In this board was failed to cope the duties of there. As the fraud was done this should not done as directors should perform their duties well. Each principle of corporate governance is important in his on aspect. DUTIES OF DIRECTORS Directors have fiduciary relationship with their company and their management there for any fraud is being in company in any level director of the company is responsible for that. Directors has power to solve any problem related to management and company. The duties of directors come under sec 180-184 of corporation act and this sec also imposed to the officers of the company. Employees of the company also come under sec 182. SEC181 of directors duty GOOD FAITH AND PROPER PURPOSE The main aim of this duty is that director should follow the duty of their in good faith and in best interest of the company and proper purpose. With good faith directors should take into consideration that stake holders of the company which specially are share holders are dependent upon their good faith and company is working well due their good faith. Bribes should not be taken or given for the purpose to increase the profit of the company. SEC182 OF DIRECTORS DUTY IMPROPER USE OF POSITION This sec states that officers and employees should not take advantage of their position to gain profit. They should not take advantage of their lower rank officer or employees. Therefore it is very important that this duty should be performed by officer in proper and legalised manner. SEC183 OF DIRECTORS DUTY IMPROPER USE OF INFORMATION Directors should not use information against the company, as any important material of the company should not be given out to its competitors. Therefore it is important that companies should follow the proper criteria of this sec. SEC 180 OF DIRECTORS DUTY DUTIES OF CARE, SKILL AND DILIGENCE Directors should exercise the duty of care and diligence, this means that directors should in this sec 180(1) should be taken into consideration will performing the duty of care. If we take a case example of Daniel v Anderson of (1995) 37B NSWLR 438, this case makes it clear that directors should perform their duties in care and diligence. SEC 184 OF DIRECTORS DUTY DUTY TO PREVENT INSOLVENT TRADING By this we mean that director should not indulge with any traction if he thinks that company is going toward insolvency. Sec 588 says insolvent trading is against the ASX rule and the director of the company is liable for insolvent trading even if he knows the company will be liquidised at any stage. Unsecured creditors ask director of the company about the compensation for the damaged suffered by the company. And directors are liable for the civil penalty order pursuant to Pt 9.4 B or criminal offence under Sec 588 G(3)and director at time of insolvent trading is liable for penalty. Clive Peeters case comes under section 182 of directors duty In this Clive Peeters manager Sonya causer made a fraud of $20 million as she made improper use of her position, there for she is liable for the delisted of company from Australian Security Exchange. CASE REFERENCE IN REGAL HASTING LTD V GULLIVER In this case directors made use of their position to make profit from the company for there personal use there for it was a breach of the sec 182. Court in this suggested that directors or any officer working for the company cannot make profit from organisation for its personal use. MISUSE OF COMPANY FUNDS Even in Clive peeters case misuse of company funds was also there. In this director cannot use the company funds for their personal use, officer of the company cannot mix company funds with their own fund. But Sonya Causer mix the company fun with her own funds even she use the funds for her personal needs like purchasing of the property and cars. CASE REFERENCE: IN TOTEX-ADON PTY LTD V MARCO (1982) 1 ACLC 228 In this case directors uses the funds of company for their personal use and even mix company funds with their own funds. IN PAUL A DAVIES (AUST) PTY LTD V DAVIES [1983] 1 NSWLR 440 The directors makes fraud and use money for their own interest and from the company funds made assets for themself. CONCLUSION From this case study we have discussed the importance of corporate governance. Importance to learn lesson from both the companies why it is necessary to work according to the corporate governance. ASX rule and regulation should be followed to insure that company is going towards right path and direction. If we take Cazaly resources limited it is an Australian based company which work as company with all corporate governance acts and directors duties are also being followed by board of directors as well as the directors of the company, manager and officer perform their duties with good faith and due care which is necessary for a good corporate governance. In case of Clive peeters, one of the biggest retailing company was for Electronic and computers got liquidised due to improper communication. The corporate governance of the company lacked in many ways and breach of duty from manager was the main issue which lead the down fall of the company. One of the manager of Clive Peeters once said that Drop of price of product in Clive Peeters lead to drop of salary of management in the company.

Fate Vs Fate Essay - 1437 Words

Within this vast and chaotic universe, it is easy to wonder how much control one single human truly has over their own destiny. Is a person’s life dominated by a plethora of choices and consequences or is it already mapped out by a greater force? Humans have pondered this question since the time of the first ancient civilizations in Mesopotamia. Although it is still without a clear answer ages later, the Epic of Gilgamesh and the Odyssey propose interesting insights into the role of fate and choice in the human experience. Neither the Odyssey nor The Epic of Gilgamesh gives a black or white answer to the question of human autonomy versus divine control. Instead, this paper will argue that both epics suggest that human life has important†¦show more content†¦It would be simple for Gilgamesh to accept this fact and live within the confines of his fate to die. However, he just cannot seem to accept his mortal fate, repeating the fact that, â€Å"The issue of my friend oppresses me†¦Am I not like him? Will I lie down never to get up again?† (Tablet X, 237-242). He sets out to do nothing but chase immortality. A man with much to lose, he leaves his vibrant life as â€Å"the hero, born of Uruk, the goring wild bull† (Tablet I, 29) and goes on risky adventures, killing monsters and entering forests he is not supposed to enter. A couple times he gets near to attaining immortality, such as when Utanapishtim tests him to see if he can stay awake long enough to become immortal. However even the best efforts of the most powerful man in Uruk are futile and Gilgamesh remains mortal. As a result of his efforts to change his destiny, Gilgamesh is punished. He loses his closest companion, Enkidu. Thus, Gilgamesh is an example of a character with great promise who spends his life trying to change one of the few predetermined parts of his fate in vain. If even this man, who is one of the most powerful in his society and even slightly immortal does not have the power to change his fate to die, it is clear that no one else can. In fact, Gilgamesh gains nothing but heartache from his efforts to step outside the confines of his predetermined identity. Odysseus is another character with a predetermined identity. However, inShow MoreRelatedFate Vs Fate Essay1401 Words   |  6 Pagesthe Odyssey propose interesting insights into the role of fate and choice in the human experience. Neither the Odyssey nor The Epic of Gilgamesh gives a black or white answer to the question of human autonomy versus divine control. Instead, this paper will argue that both epics suggest that human life has important elements of both divine control and human autonomy. Once an individual is able to accept the more general parts of their fate that lay beyond their control such as their identity and theirRead MoreFate Vs Fate Essay1649 Words   |  7 PagesFate can be thought about as life being predetermined for the entirety of your days. From the early writings from Homer, specifically in the poem, The Iliad, there is a clear representation of whether it is free will or fate after all. Although we may never know whether there is a predetermined path or rather just free, it can only make one wonder. For most Greek Mythology, it is been evident that most of people’s decisions were not free will but rather fate itself. While people think they have freeRead MoreFate Vs Fate Essay 1781 Words   |  8 PagesFate can be thought as life being predetermined for the entirety of your days. From the early writings of Homer, specifically in the poem, The Iliad, there is a clear representation of whether it is free will or fate after all. 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There are several examples ofRead MoreMacbeth Fate vs. Freewill Essay948 Words   |  4 PagesFate vs. Freewill In Shakespeare’s Tragedy Macbeth, it is very debatable if fate, or freewill is what causes Macbeth to do the things he does through out the tragedy. Freewill is at work most through out the tragedy because Macbeth is convinced he can change or speed up the fate the three weird sisters prophesized for him at his own will. Throughout the play, Macbeth slowly begins to think he can modify his fate by using the prophecies told to Macbeth by the weird sisters and attempting to changeRead MoreMacbeth: Fate vs Free Will Essay1208 Words   |  5 PagesFate vs Free Will is one of the most oft used literary techniques in writing. It is never more evident than in Shakespeare’s play Macbeth. The major theme of the story Macbeth is whether or not the story is fueled by the free will of Macbeth, or by his fate. Are the events in Macbeth a result of his mentality and outlook on life, or were they going to happen no matter what? Almost every major event that takes place can be traced back to this question. It can be viewed in different ways, and mostRead MoreMidsummer Nights Dream: Fate vs. Free Will Essay1208 Words   |  5 PagesMidsummer Nights Dream essay Throughout the play A Midsummer Nights Dream, Shakespeare uses both fate and free will to present his philosophy towards the nature of love. The characters struggle through confusion and conflicts to be with the one they love. Although the course of their love did not go well, love ultimately triumphs over all at the end of the play. The chaos reaches a climax causing great disruption among the lovers. However, the turmoil is eventually resolved by PuckRead MoreFree Will vs. Fate in The Winters Tale Essay1645 Words   |  7 Pagesagainst Nature. She represents what was meant to be, what has been divinely decided. Even though they are father and daughter, they are complete opposites. Leontes represents our human ability to exercise free will, and Perdita represents the power of Fate over our lives. Early in the play, Leontes shows his own fallible nature. He reveals himself to be a jealous, self-doubting tyrant. He brings about the his own demise, curses his family and dooms his own child to death. Though these characteristicsRead MoreOedipus the King: Fate Vs Free Will Essay639 Words   |  3 Pages Oedipus the King, was written by Sophocles between C.A.496-406B.C. In this play, Oedipus is a great example of Sophocles’ belief that fate will control a man’s life no matter how much free will exists. Oedipus is a man of unflagging determination and perseverance, but one who must learn through the working out of a terrible prophecy that there are forces beyond any man’s conceptualization or control. Oedipus’ actions were determined before his birth, yet Oedipus’ actions are entirely determinedRead MoreFate vs. Free Will Julius Caesar Essay844 Words   |  4 PagesWilliam Shakespeare there are two forces at work fate and freewill and throughout the play they are both fighting for control over man. Fate was shown in the many prophecies and omens that the characters viewed throughout the entire play. Free will as defined in the play is the ability to overcome fate. Although in the end all three of the characters succumbed to their fate, Shakespeare shows again that there is a delicate balance between fate and human free will. Of the three main characters

Foreign Aid and the Development of African Nations Free Essays

The African Nations, particularly those lying in the Sub-Saharan region have been subject to poverty, inadequate financial resources of their respective governments, lack of proper infrastructure and essential services like health, sanitation and water supply. These countries have also long been plagued by corrupt leaders, who have no concern about the sufferings of their citizens, despite growing their personal wealth based on the countries’ natural resources and foreign aid. Despite billions of dollars of foreign aid pouring in the region by countries like the United States, U. We will write a custom essay sample on Foreign Aid and the Development of African Nations or any similar topic only for you Order Now   K. , Germany and Japan there is no tangible change in the development of these countries. This paper will discuss the role of foreign aid in the development of the African Countries. Though, the common perception among the people is that the sub-Saharan Africa receives fairly large amount of foreign aid, but there is no proper outcome of it. They often complain that most of aid given to the African governments is consumed in non-development expenditures, or either is directly deposited in the overseas accounts of the rulers. But the fact is that the amount of aid given to these countries is never enough, particularly when considered the amount of development work done. Another problem is the method of distribution of the foreign aid, as there is very little amount, which is directly handed over to the African governments for their projects. Most of the aid is either in the form of technical support in which most of the aid is used in paying the officials of the aid giving country in exchange of their services. For e. g. the United States, which is considered as a major ODA, provider in the region does not spend, as she should have and as much resources she has. Most of the foreign aid provided by the United States is either in response to catastrophes like famine, earthquakes and tsunamis etc. , or in the form of emergency relief, like the U. S. wheat supply in cases of shortage of food supplies due to draught in many African countries. (Sachs, 82) On the other hand the actual amount of Official Development Assistance is far below as it is thought by many Americans. It is simply because large portion of ODA is disbursed primarily to the strategic nations like Iraq and Afghanistan. The remaining amount left for the non-strategic countries is then distributed either via NGOs or in the form of technical expertise and services. In both cases none of the amount is directly handed over to the recipient government. Thus the leftover of the ODA, which is directly handed over to the aid recipient nations, is significantly low. The same is the case of most donor nations like the United Kingdom, France, Germany, Japan and Italy etc. The amount of aid actually handed over to these governments, which may help them to practically implement the public development projects like hospitals, schools, water supply and sanitation etc. (Sachs, 82) According to the 2003 U. S. government statistics regarding the ODA given by the United States to the sub-Saharan Africa, the total amount given was $4. 7 billion only. The sad story is that out of this huge amount only $118 million were directly handed over to African governments in order to support public development programs run by the government and communities.  (Sachs, 83) Therefore the given statistics regarding the U. S. aid depicts the inadequate amount of direct aid given to the African nations. Now speaking about the output and consequences of the foreign aid in the development of sub-Saharan African nations, the results are not encouraging. Partly because of inadequate amount of aid, ineffective method of aid distribution and disbursement, corrupt governments and leaders the outcome is not overall satisfactory regarding virtually the entire sub-Saharan region. The United States and other donor countries can shed their burden by using the United Nations as a platform of foreign assistance to the sub-Saharan regions. (Tharoor) Kenya is a good example to analyze the role of foreign aid in the economic and public development of the country. Kenya had been among those countries, which have received huge external aid flows from the donor nations and institutions in order to foster economic growth and reduce poverty. But unfortunately the outcome has never been satisfactory as there is no major improvement in the economic growth of the country, neither there is any significant reduction in poverty or any tangible public development as an outcome of foreign aid. The country like other sub-Saharan African nations faces high indebtedness, unemployment and absolute poverty. The poor economic performance of the country has led to high dependency of Kenya on foreign aid. (Njeru, 1) The Kenyan development expenditures were slightly above 10% of the total government expenditures during the late 90s. This shows a development expenditure decline of about 50% from the 70s, which was just below 20% at that time. Due to poor economic performance the government development budget has increasingly become dependent on donors. For e. g. in the 80s only 40% of the development expenditure depended on foreign aid, while in the next debate the dependence had raised to 70%. (Njeru, 6) This increasing dependence was the result of poor performance and using the local government resources on non-development expenditures. Most of funds disbursed by the donors is either in the form of appropriations-in-aid or revenue, the most common of which is appropriations-in-aid method. Using this method the donors have direct contact with the project coordinator, but there is a drawback of this method as the government loses control of these projects there is a big chance that they may become white elephants. (Njeru, 9) On the other hand, under the revenue system the funds are disbursed directly to the Treasury via special accounts in the central bank, but here are some other risks, like misuse of the funds because of weak accounting system at the Treasury.  (Njeru, 9) During the post-independence period Kenya receive heavy inflow of foreign aid particularly from the British. In the 70s and 80s there were high development activities in telecommunication networks, land settlement schemes, health and education sectors. During the 80s Kenya had enjoyed the highest level of foreign aid flow and there were about 600 active development projects in the above-mentioned sectors. (The Role of Foreign Aid in Development, 37) The major setback in the initial development progress was brought by former president Kenyatta and his successor Daniel arap Moi, as they not only backtracked the on going progress by making some unsound decisions like price control, marketing boards which soon adversely affected the prices and production incentive. Import substitution was also an important drawback, which resulted in poor economic condition and forced the government to stall many public development projects. (Erixon, 14) Corruption is also an important factor, which has led to the wastage of large amount of foreign aid. According to the Transparency International’s index of corruption Kenya was among the 10 most corrupted countries. According to TI the incidence of corruption is about 50% in most ministries, city councils, parastatals, SOEs and other governing bodies. (Erixon, 14) President Kenyatta’s regime was plagued by his so-called land reforms in the name of which he received large amount of foreign aid and subsequently became the largest landowner in the country. His alleged favor to his tribesmen and kinsmen, the Kikuyu, also resulted in mass corruption and loss of large amount of donor’s money. Using foreign aid to support their own kindred has become a norm in the Kenyan politics. (Cohen, 7) Presidents Moi’s regime is also marked by misuse of foreign aid in favor of the relative and political supporters. For e. g. the Kenyan government received $873 million in official development assistance in the fiscal year of 1991/92. All this aid was either on grant basis or loan basis and supported some 654 public development projects. These projects have about 2,000 sub-components, in order to give every ethnic group a fair price of the fund. Not surprisingly a large amount of the fund and project resources were not used accordingly. (Cohen, 13) Moreover the public developments on district level were also done on ethnic and political basis, as those areas where the residents are either the tribesmen of the president or loyal to him will receive a large sum of budget and public development programs, while those who oppose him like the Kikuyu, the people of the former president Kenyatta receive marginal amount of budget and public development funds. (Cohen, 16-17) President Moi’s government and leadership have been marked with more corruption and use of foreign aid on their own behalf. According to a Guardian report, President Moi, his associates and relatives have allegedly moved more than 1 billion pounds of government money to nearly 30 countries including Britain. Other relatives who have been involved in corruption of millions of dollars government money include Moi’s sons, which have moved 384m and 550m pounds respectively. (Rice) This report clearly depicts how ruthlessly these corrupt leaders have looted their country and fellow countrymen. The same is the character of NGOs in this regard, as most of the NGOs working in Kenya have their loyalties with one of the political parties or ethnic groups and they only work in their interest. Moreover those NGOs which are honest to their mission and objective face constraints and suppression from the government and they are only allowed to work according to the interest of the government officials, and their interest is always to do a favor to their kinsmen or political allies. In this way the people in real and dire need are often neglected, only because they do not have enough political power or ethnic relation with the people in the office. Botswana is another case and a different story. The country has been the best example of good governance and leadership in the continent by far. It is the only country, which has been democratic in spiritually and practically throughout the entire post-independence period. The country has actively promoted the its’ citizens social and economic development throughout its post-colonial history. The country led by its founder Sir Seretse Khama and his successors were dedicated to deliberate democracy and market economy. Khama played an important role in developing a law-respecting political culture, which was wholeheartedly endured by his successors. (Rotberg) Though Botswana has received a heavy amount of foreign aid inflow the public development of the country in not based on that primarily. The main factor, which contributed in the country’s success, is its good governance and lack of corruption. According to Transparency International Botswana is the least corrupted country in the African continent far better than many European and Asian countries. (Williams) Botswana has shown its capability of utilizing the amount of donors’ funds. Botswana has the strongest state institutions, professional civil services, strong planning systems and centralized aid management systems. All these have helped the country to utilize the funds wisely and accordingly with the minimum loss and misuse possible. The effective use of aid effectively contributes to the project plans, but also gave the country more control over the aid. This is in contrast to Kenya where the foreign aid froze twice due to poor compliance of the Kenyan government to the conditions of the donors. (Renzio, Whitfield Bergamaschi, 1-4) After the independence Botswana was among the poorest countries of the world and there was lack of proper infrastructure and social and economic institutions. In the initial post-independence period the country has used large amount of foreign aid, but the leadership was wise enough to use the foreign assistance in proper way. The government also preferred grants to loans and used diversified donors and also made a habit of refusing to accept aid when not necessary. (Togo, 3) The government wisely used foreign aid in not only developing the public sector like health, transportation, sanitation and water supply, but also used the chance to invest the aid heavily in the diamond mining industry which later boosted the country’s economy and help Botswana to overcome her dependence on foreign aid. (Togo, 4) But in the 90s the situation has changed and the new generation of leaders have emerged which are not willing to follow the path of Khama. They have allegedly used the government funds as their personal possessions acting double as the directors of private funds thus reserving these funds for the projects run by their firms. Furthermore in 1992 the credibility and respect of the Botswana government was further tarnished by the notorious Housing Corporation scandal in which the Vice president and other high-ranking officials were allegedly involved. (Togo, 5) Despite all these downfalls and shortcomings emerging in the new general of politicians, the country is still the least corrupt as compared to other African nations. According to recent studies Botswana has received the highest level of foreign aid up to 1980s, which has played a significant role in the development of the country. The foreign assistance had been as high as $200 per capita in 1980s. But the studies show that aid has only played siginificant role in public development in the early years of independence, when the country relied completely on the British aid for its expenditures. But in the next decade the ratio of aid had declined sharply, and the revenue from diamond mining far exceeded the aid. In the late 80s the share of aid fell to 3% of GDP from 29% in 1967. Therefore foreign assistance played significant role in the first two decades of the country history. (Togo, 6) The founder president of Botswana made his priority to secondary education in order to increase the proportion of the natives in the countries civil service and other comprehensive development projects, like mine development, construction of dams and irrigation. The government wanted to provide the natives jobs and reduce poverty. Thus they used the foreign aid initially to promote education and then focused on the infrastructure like roads, electric power and water supply, which will become the basis of the mining industry. (Togo, 8) The government than acquired $2. 5 million loan from the World Bank to finance the Shashe complex diamond-mining project. The government also won technical assistance from several developed countries. The foreign assistance acquired was largely used in the development of the infrastructure of the Shashe Complex project. Then the aid was used for the development of the human and physical capital. (Togo, 8)Thus Botswana used foreign assistance for the development of the human capital by promoting education and physical capital by developing the infrastructure. In this way one can easily conclude that foreign assistance played an important role in the development of the country in the first two decades. But when the case of Botswana is compared with that of Kenya, it becomes clear that foreign aid is not the sole factor in the success of a country. In the last four decades Kenya has received more foreign assistance than Botswana, but the country never became economical strong as Botswana did. The primary reason was the different in the vision and approach of the rulers of the two countries. The Kenyan first two rulers have been among the most corrupted and autocratic type of rulers and they have no interest in the welfare of their fellow citizens. They ruthlessly used the countries resources as personal possessions. On the other hand the Botswana founder president Khama and his successors have been honest to their country and fellow citizens and wisely used their country’s resources as well as the foreign assistance they had received to develop their country’s economy, public sector institutions and infrastructure. Therefore foreign aid has never been the primary factor in any country’s development. How to cite Foreign Aid and the Development of African Nations, Papers

Security of Information that is Stored into Computer Free Sample

Questions: 1.Search the Web for news on Computer Security Breaches that Occurred during September-December 2015. Research one such Reported Incident. Prepare a Report Focusing on what the Problem was, how and why it occurred and what are the Possible Solutions.2.Prepare a report focusing on the following questions: What was the problem? Who were affected and how? How was the attack carried out? What could have been done to prevent the attack? Answers: Introduction The computer security breach is most vulnerable thing for security of information that is stored into computer. The computer security breach is carried out in form of different attacks such as virus attack, DDoS attack, hacking and phishing attack etc. The main objective to make this report is to discuss computer security breach that were popular in news in 2015. Besides this, a popular case of hacking will also be discussed here that was happened between 2012 and 2016. 1.Discussion In 2015, the popular news was about computer security breach of OPM i.e. Office of Personnel Management. OPM serves as Human Resource department of federal government and by this agency, records are submitted to all federal government employees. Besides this, security clearances are also issued by OPM to federal government. Problem A massive security breach was carried out by hackers in December for targeting records of workers of OPM. These hackers were working for Chinese military unit. According to US officials this hack-attacked was launched from China, but Beijing considered this irresponsible claim. The OPM officials discovered that this computer security breach was an aggressive effort to upgrade the cyber security of OPM by using new tools. The information that is leaked in this security breach consists of records of training and performance reviews and job assignments of the employees. But in this stolen information, background checks and clearance investigations were not included. This computer security breach was biggest breach of US government employee data and it is also second big intrusion of OPM by China in 2015. In the report of iSight partners, it was mentioned that this breach can be linked to the same cyber-spying that was responsible for security breach of Anthem Company. On another side, F BI has its own views about this attack and according to them it is work of Chinese state-sponsored hackers. According to investigators report of this case, near about 21 million records were breached in this security breach and besides this, fingerprints of 5.6 million employees were also stolen (HackRead, 2017). Reason of Occurrence This problem was occurred by hack-attacked on OPMs database to collect its confidential information. According to different information sources, China is considered responsible for this breaching act and it is not first time that US officials are blaming China for this type of computer security breaches (Greene, 2017). The main purpose of hackers to get essential information of OPM officials and to use this hacked data for conducting spear-phishing emails to silly recipients who clicked on affected links or attachments and hackers can easily access their information from targeted computers through this action of those recipients. The effect of this hack-attacked was so much vulnerable and due to this, most of the OPM workers were affected. It was a matter of trust of OPM workers on this agency. So it is responsibility of management of OPM to implement possible solutions to protect its database and computers (Forbes.com, 2017). Potential Solutions for OPM Security Breach It is stated by officials of OPM agency that they are making plans to contact all the affected workers to provide them offer for free credit monitoring and identity theft insurance for 18 months. Besides this, following possible solutions can be implemented to get protection from above discussed security issue (SearchSecurity, 2017). On the behalf of above collected information, first of all it is necessary for OPM to enhance its database security. If database will be secured properly then there will be very less chances that hacking problems will occur. The periodic scanning of database by using database scanning software such as McAfee, Oscanner etc. These software solutions are helpful enough to identify errors, bugs and entry of an unknown entity can be vulnerable for database. OPM security consultants should be aware about these solutions (com, 2017). The use of anti-virus in computer systems is also an effective way to control issues of security breaches. Anti-virus is useful for identifying virus into system and to fix it. The information that is stored into database should also be in encrypted format. Through encryption technique information can be stored into database in unreadable format that is harder for hackers to understand (Dark Reading, 2017). The database access should restricted for all employees or workers of OPM. Only authorized worker and administrator can access database if required (microsoft.com, 2017). In this way, if OPM will be careful about maintenance and security of computer systems and databases, then computer security breaches can be controlled. 2.Hacking is common word for every computer user and everybody knows about its impacts on their system, databases and networks. Several cases of hacking have encountered by IT users. Among these several cases, some cases have become so much popular. Now in this segment of report, we will discuss a popular hacking case that was carried out between 2012 and 2016. The selected case of hacking was happened in Dominos Pizza in 2014. Problem A hacking group of Rex Mundi held this hacking attack in Dominos Pizza to exchange over Belgian and French customer records. The total number records were 600,000. In this exchange of personal data of customers such as their names, addresses, emails, phone numbers and even information about their favorite Pizza toppings, Mundi demanded $40,000 from the fast-food chain. If this exchange was not met, then it is threatened by hackers to publish this information online. Dominos refused this exchange and also assured to its customers that their financial and backing information is still saved. The hacking group Rex Mundi had its Twitter account that is now suspended and data was also never revealed by hackers online. But it is hard to say that Dominos accepted deal of hackers or not (Inquirer, suspension, Latest, read, 2017). affected The customers of Dominos Pizza whose information was stored into database were highly affected due to this hacking attack. The personal information of customers was so confidential and they had given that to Dominos with trust. The most worried thing was that when hacking group threatened to company about online publishing of customers information. If information would have been leaked over internet then it could be misused by anyone. Besides customers, employees of company were also affected because some of their official information was also stored in companys database. This hacking attack was also vulnerable for reputation of company in market because after hack of huge amount of information, it was difficult for customers to trust Dominos again (Munson, 2017). the attack carried out This attack was carried by Rex Mundi hacking group by accessing database of Dominos Pizza in unauthorized way (Mail Online, 2017). To carry out this attack, hackers cracked database of Dominos Pizza and downloaded more than 600,000 records of dough-loving customers. The hacking group successfully cracked database of Dominos, it means there is lack of security in database system of this company (Curtis, 2017). The things that could have been done to prevent the attack After this hacking attack, Dominos suggested to its customers to change passwords after getting alert from companys side in a particular period of time (Motherboard, 2017). Even it is also better that always different password should be used by users while accessing any new website. The reason for this is, hackers always try same combination of username and password from one site to another to track your activities. If users will use unique password then it will be difficult for them to access website easily. Other possible solutions that could have been used by Dominos are listed as below (Moore, 2017): Prefer to use Database Scanning Tools Anti-Virus Installation into System Restricted and Authorized Access to Database (Healthcare IT News, 2017) Prefer to use Database Scanning Tools In appropriate monitoring of database, scanning tools help a lot. To identify any inappropriate action in database, Dominos could have been used database scanning tools such as Oscanner, Kaspersky, McAfee etc. Through these tools, whole scanning of database could be done to identify issue and to resolve those issues. The periodic database scanning helps to prevent database from virus and malware attacks. Anti-Virus Installation into System There is no doubt that anti-virus is a good solution to identify virus from database or computer system. It also performs complete scanning of database and computer and provide result in total number of virus exist into computer. Once we got to know about total number of viruses and their locations, we can make appropriate action to remove these viruses. So, this is also an effective way that could have been adapt by Dominos to get rid of problem of database cracking by hackers. Restricted and Authorized Access to Database The access of database should be very restricted, especially in cases where huge amount of data is stored into database like Dominos. It is responsibility of administrator to set authorized access for users and without permission no one should be allowed to access database. The reason for this is, sometimes an employee of company steals confidential information and can pass it to hackers or can help hackers to hack companys confidential information. In this case, tracking of every activity of every authorized person should be conducted by administrator and if in any case doubt occurs then must take strict action accordingly. The main problem in hacking case of Dominos Pizza is that security parameters and policies were not implemented properly. If above listed solutions will be implemented by this company then chances of hacking attacks will be reduced Conclusion After this whole discussion we conclude that the maintenance of security and privacy of information is job of security experts who have better knowledge that how data can be remained more secured in databases. So they should suggest management to implement these solutions quickly. They should aware employees of company about bad impacts of hacking attacks and computer security breaches and also order them to use all suggested security tools and techniques. The support of companys management is also required. If we want to use databases, computer systems and network solutions at our workplaces then our first priority should be security and privacy of information that will be stored and transferred through these tools References Curtis, S. (2017). Domino's Pizza hackers demand 24k ransom. Telegraph.co.uk. Retrieved 7 April 2017, from https://www.telegraph.co.uk/technology/internet-security/10902321/Dominos-customer-details-held-to-random-by-hackers.html Dark Reading. (2017). Attacks Breaches News, Analysis, Discussion, Community - Dark Reading. Retrieved 7 April 2017, from https://www.darkreading.com/attacks-breaches.asp Forbes.com.(2017). The Top 5 Most Brutal Cyber Attacks Of 2014 So Far. Retrieved 7 April 2017, from https://www.forbes.com/sites/jaymcgregor/2014/07/28/the-top-5-most-brutal-cyber-attacks-of-2014-so-far/#7bd28e9134da Greene, T. (2017). Biggest data breaches of 2015. Network World. Retrieved 7 April 2017, from https://www.networkworld.com/article/3011103/security/biggest-data-breaches-of-2015.html Huffingtonpost.com. (2017). Security Breach. Retrieved 7 April 2017, from https://www.huffingtonpost.com/news/security-breach/ HackRead. (2017). Top 15 Cyber Attacks and Security Breaches in 2015. (2017). Retrieved 7 April 2017, from https://www.hackread.com/top-15-cyber-attacks-security-breaches-in-2015/ Healthcare IT News. (2017). 2015 healthcare security breaches. (2017). Retrieved 7 April 2017, from https://www.healthcareitnews.com/slideshow/2015-healthcare-security-breaches-long-list Inquirer, T., suspension, D., Latest, I., read, M. (2017). Domino's hackers fail to release customer data following Twitter suspension | TheINQUIRER. https://www.theinquirer.net. Retrieved 7 April 2017, from https://www.theinquirer.net/inquirer/news/2350198/hackers-demand-domino-s-pizza-delivery-of-eur30-000-to-prevent-customer-data-leak Munson, L. (2017). Dominos Pizza hacked, customer database held to ransom. Naked Security. Retrieved 7 April 2017, from https://nakedsecurity.sophos.com/2014/06/16/dominos-pizza-hacked-customer-database-held-to-ransom/ Moore, M. (2017). Domino's Pizza WARNING - why customers should change their passwords NOW. Express.co.uk. Retrieved 7 April 2017, from https://www.express.co.uk/life-style/science-technology/744453/dominos-pizza-change-password-warning-customer-phishing Motherboard. (2017). Bug in Domino's Pizza App Allowed Hackers to Get Free Pizza for Life. Retrieved 7 April 2017, from https://motherboard.vice.com/en_us/article/bug-in-dominos-pizza-app-allowed-hackers-to-get-free-pizza-for-life Mail Online. (2017). Hackers demand 24,000 from Domino's in return for stolen details. Retrieved 7 April 2017, from https://www.dailymail.co.uk/sciencetech/article-2658862/Thats-lot-dough-Hackers-demand-24-000-Dominos-Pizza-return-650-000-stolen-passwords.htmlq Msdn.microsoft.com. (2017). How To: Protect From SQL Injection in ASP.NET. Retrieved 7 April 2017, from https://msdn.microsoft.com/en-us/library/ff648339.aspx SearchSecurity. (2017). What is data breach? - Definition from WhatIs.com. Retrieved 7 April 2017, from https://searchsecurity.techtarget.com/definition/data-breach

Report dominos pizza free essay sample

Analysis of the current Dominos ecommerce and marketing strategy from an external standpoint identified missed opportunities and prospective areas for improvement relating to their ecommerce structure. Specifically it was identified that Dominos had the potential to leverage the established business structures of eBay and utilise them with speed and efficiency to create an innovative solution to fill a gap in the market place. Utilisation of an eBay store would grant Dominos first mover advantage in an extremely competitive industry with high buyer power that is heavily dominated by discounting offers. This innovation can target not only existing customers but also actively engage in the pursuit of a new customer base. In a marketplace dominated by traditional bricks and mortar business structures the online store allows Dominos to market to a wider consumer base and generate a point of difference. With comparatively low overall financial outlay, a successfully established online business that customers are directed towards and the ability to harness the proven business structures of eBay, the Dominos eBay Store is capable of meeting the market in rapid succession following approval. We will write a custom essay sample on Report dominos pizza or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Table of Contents Contents Introduction The purpose of this report is to present and critique the potential of Domino’s pizza establishing an eBay store in order to increase overall customer awareness of brand and generate income. An assumption is made that eBay would be conducive to a partnership of this nature and that non-monetary vouchers for foodstuffs does not breach the limitations of eBay listing guidelines. Without direct access to Dominos marketing strategy and brand research conducted by the Dominos group the report is limited to review of strategy and business operations from an external perspective. It is identified that the Pizza Industry specifically and the Fast Food Industry as a larger whole is highly competitive. Dominos currently enjoys large market share and positive representation of brand, however incremental evolution of the business is required in order to ensure stability in this volatile marketplace before growth can be considered. The process of analysing the potential of this innovation was multi-faceted and considered the existing marketing and ecommerce strategies of Dominos. Clearly establishing the gap in the Market in light of the Industry standard practice, competitor activity and customer expectations reveals that value perception of the Dominos brand can be positively impacted from both a customer and business perspective. Moving from the industry standard traditional bricks and mortar business structure to the dynamic online marketplace would grant Dominos first mover advantage in a marketplace that all direct competitors are yet to capture. Utilisation of the exiting information structures within the business limits business transformation requirements and significantly mitigates both financial outlay and time investment required to implement the innovation. Inclusion of a Rich Picture in the Appendices visually highlights the incorporation of the innovation into the Dominos ecommerce strategy. History Currently Dominos, via the letterbox and newspaper insertion of vouchers, invests heavily on residentially centralised marketing localised to the immediate vicinity of the franchise outlets. Although geographically targeted to those residence with the most convenient access to the stores there is little manner in which to track customer engagement and follow through. This method of distribution also limits customer exposure to the frequency the store engages in the circulation campaign. Existing Dominos electronic marketing populates the majority of its clientele database with data entered directly by the customer engaging with the online ordering interface (Image 1). Severely limited in scope it requires the customer to both be already committed to purchasing from Dominos and amicable to receiving electronic marketing. Further, this method of data collection requires Dominos to trust that the information being entered by the Customer is complete and accurate with limited ramifications on the Customer for inaccurate or incomplete information. Image 1 – Dominos Customer Interface Market Gap Analysis Overview Currently eBay has millions of daily users and unique domains within 8 countries in the Asia Pacific Region that Dominos already has a recognized presence in. See Appendix 1 (EBay 2014) and Appendix 2 (Dominos 2014). By partnering up with an established and successful ecommerce business and utilising a focused marketing strategy Dominos, with an already established presence in the majority of countries in this region, is presented with a portal for advertising and brand exposure in addition to the ability to sell voucher deals. Existing strategy is geared towards the evening dinner market and is utilised predominately by customers who ring up or go online to order when they are hungry. This innovation creates a limitless potential for exposure to new customers and an exponential sales increase via creating the option of purchasing a voucher at any time to utilise at their convenience. Marketplace Background Dominos online sales currently make up 15% of their profit margin with a growing trend and is forecast to become accountable for more than 50% of their profit margin. (Dominos 2013, p.8) Examination of the pizza industry with Porters Five Forces reveals High buyer power, threat of substitute products and rivalry, Medium threat of new entrants and Low supplier power (Appendix 3). This highly competitive and volatile marketplace makes it essential to create a point of difference and establish and maximise perceived brand value. Immediate Benefits With society become increasingly mobile and demanding of ins tant gratification (Muther 2013) Dominos needs to be able to meet and embrace this emerging culture. Successfully harnessing the clicks and mortar (Baltzan et al.2010, pg. 123) structure of an EBay store would allow Dominos to leverage what could effectively be described as a Customer to Customer relationship in a Business to Customer (Baltzan et al. 2010, pg. 125) interface. The EBay store would feature all the benefits of a pureplay (Baltzan et al. 2010, pg. 125) business whilst deferring the majority of hosting and data management costs to EBay. With the online store able to host multiple auctions the customer is able to access an auction at their convenience and leisure irrespective of time of day or location. A customer currently residing outside the established distribution catchment of vouchers could conceivably purchase a voucher for a store in a town that they were visiting in a week at 11. 00pm at night. Dominos would also benefit from increased accuracy and completion of their clientele database as it is in the Customers best interest to ensure that shipping details, a mandatory requirement for any EBay account, and email addresses, required to create an EBay account, are up to date (Image 2). Image 2 – eBay registration requirements Value perception Customer Given that value perception is the perceived value that a customer rates a good or service, â€Å"it is therefore vitally important for a company to use a customer focused strategy to obtain a competitive advantage over its competitors by making the target market value your good or service higher than your competitors†( Rahikka et al. 2011, p. 359). By implementing eBay as a Business to Consumer portal it targets a much larger consumer base. It also empowers existing customers. This enables customers to bid on bargains at their leisure. With this new option of buying discounted pizza in advance it gives the consumers new options for buying pizza deals and using them at their convenience. This new business strategy will change the customer perception of Domino’s Pizza from a bricks and mortar fast food outlet that provides a quick service when you’re feeling hungry to an online fast food outlet that can be brought any time of the day in advance at discounted prices. Business Incorporating a business partner such as eBay grants Dominos instant access to millions of new customers, in the established eBay customers. It also gives them more access to their existing customers as their existing customer base are known to be regular eBay users (Domino’s 2013). The benefits of this are increased brand exposure using eBay as a portal to advertise their products and brand names. The new customer base generated from this will result in increased traffic to their website which promotes the brand name and creates growth for the business. With this proposed innovation the company will be the first to utilise an already successful business with a huge customer base. It also creates a larger awareness by people bidding on their deals at different times of the day not just when their hungry. The innovation also creates pre-sales, a significant advantage for Dominos as they can secure payments weeks in advance opening up potential investment funding opportunities which no other competitor in the industry have been able to secure. This grants Domino’s another first to market advantage in line with their digital advancement strategy (Domino’s 2013). A value chain analysis in light of the balanced scorecard (IntraFocusUK 2012) of the innovation reveals that the perception of an increased level of personal interaction as Dominos engages directly, rather than anonymously, with the customer would assist in a positively accumulated switching cost via both increased brand loyalty and customer perception. It will also give Domino’s pizza a competitive advantage over competing fast food companies for the short term until rival competitors replicate similar strategies. Information and Communication Technology Strategies As this collaboration with EBay is the first within a vast and already successful environment, having a clear strategy is imperative to ensure it is successful. This introduction does not change the existing business process rather it works as an additional tool to enhance customer engagement, loyalty and awareness. A key focus within the innovation will be on customer relationship management (CRM). Taylor (2010, p. 1) defines CRM as a process by which businesses seek to exploit information relating to

Didion Essays

Didion Essays Didion Paper Didion Paper Joan Doing On Keeping a Notebook In On Keeping a Notebook, Doing writes about the Importance In keeping a notebook to record events and personal feelings. She makes It vital to write In the moment that these events, thoughts, and feelings occur. Although, the point Sins to be accurate or persuasive but rather personal to reflect and reveal what she discovers about herself In the process while still applying rhetorical devices of ethos, pathos, and logos In her essay. Her notebook Includes personal experiences written erratically, versus to writing In a diary dally. Some of the entries Jotted down have little to no significance to her life and this format enforces the effects to writing In a notebook the same way any average person would. Some of these stories are questionable to her and are used to make a point of how writing in a notebook isnt about finding a meaning but keeping in touch with yourself in the end. Dingos writing structure is informal to the way its written with random stories ND using casual language that is easy to understand as if she were speaking to the reader. This makes for the persuasive method of ethos that enables the reader to trust her writings to make a point in using the notebook usefully and efficiently. She asks the reader questions throughout the essay that makes the reader think about how a notebook comes in handy. Why did I write it down? In order to remember, of course, but exactly what was it I wanted to remember? How much of it actually happened? Did any of it? Why do I keep a notebook at all? It is easy to deceive oneself on all those scores. (76). As she continues to keep the reader questioning, she successfully resumes authority over the reader when she adds in another personal entry. Doing does not make against any argument, but comes to avoid it as she successfully attempts to inform the reader that Sometimes even the maker has difficulty with the meaning,(79) while bringing in playful sarcasm to her explanations, . Yet there it is in my notebook, labeled FACT. 79) causing the reader to respect her point of view. Overall, what she tries to get across to the reader Isnt to record, analyze, or conclude but to keep bits of mindful thoughts. Doing By lexicons In On Keeping a Notebook, Doing writes about the importance in keeping a notebook to record events and personal feelings. She makes it vital to write in the moment that these events, thoughts, and feelings occur. Although, the point is nt to discovers about herself in the process while still applying rhetorical devices of ethos, ethos, and logos in her essay. Her notebook includes personal experiences written erratically, versus to writing in a diary daily. Some of the entries Jotted down have little to no significance to her life and this format enforces the effects to writing in a notebook the same way any average person would. Some of these stories are explanations, Yet there it is in my notebook, labeled FACT. (79) causing the reader to respect her point of view.

Financial Performance of Apple Inc from 2002 to 2011 Research Paper

Financial Performance of Apple Inc from 2002 to 2011 - Research Paper Example The current ratio position of the company, which is â€Å"greater than 1,† offers a high leeway of liquidity (Kennon p 1). The Quick Ratio of Apple, which is 1.35, indicates their liquidity in terms of readily available finance. Similarly, the leverage ratio is 1.52 which indicates a sound debt and equity position, where investors can expect high returns. Moreover, a proportionate increase occurred in the Earning Per Share. The EPS has risen from 0.09 $ to 27.68 $ during the period between 2002 and 2011. This accounts for an appreciation of over three thousand times in ten years or an average growth of 300 times a year. Thus, the company stands to attract a lot of investors, which, in turn, will further escalate the rate of their share and add further value to the company. The price/sales ratio was 4.23%, compared to companies such as HP, Google, and Samsung. Apple, a leading manufacturer of computer hardware and software, iPods, mobile phones and other gadgets, was founded by Steve Jobs and Steve Wozniak, with the former as the CEO. Tim Cook was appointed for new CEO. From 2011, Dr. Arthur D Levinson was the director of Apple. The SVP heads are Mr. Jeffery E Williams (SVP Operation), Mr. Peter Oppenheimer (SVP and CFO), Mr. Guy Tribble (VP Software Technology), Mr. John Browett (SVP Retail), Mr. Eduardo H. Cue (SVP Internet Software and Services), Mr. Craig Federighi (SVP Software Engineering), Mr. Scott Forstall (SVP iOS Software) and Mr. Jonathan Ive SVP Industrial Design.  

Reflective Summary Essay Example | Topics and Well Written Essays - 250 words

Reflective Summary - Essay Example As a student, I must attest to the fact that it provided me with a platform to test some of the beliefs I have developed overtime, thereby determining assumptions that work and at the same time enabled me develop new ideas. The colleges, notably the professors view the process as an opportunity to support students by helping them tackle some of the challenges they might come across in the course of the activity. At the same time, the industry partners, which in this case was YWCA Niagara region benefited in the sense that as a team, we identified some of the HR concerns facing them, and developed strategies and action plans of successfully tackling each issue. One of the essential challenges that my team members faced in the course of working on the assignment was the fact that all of us were passionate of our ideologies, and wanted each member to buy into our perceptions. Nonetheless, we realized that it was better to share a common goal, and that made it easier for us to complete the

Statment of purpuse for MBA school Personal Statement

Statment of purpuse for MBA school - Personal Statement Example The MBA prepares a student in the field by motivating one to use and develop analytical decision-makings which are very useful for employers because such preparation demand less assistance from other employees. Creative skills are also developed while one analyses a situation and develop solutions to the problem posed and the ingenuity of how it is resolved can measure an individual’s ability to look into strategies that are commendable. Consequently, the person is now trained to be self-reliant and would not always need other people’s attention to himself rather could be trusted to be able to complete a task without much assistance. As the title of the course suggests, entrepreneurship is one of the paths that one is developed, being given information that would be virtually important to this endeavor, not to mention being updated with the latest business trends. Effective communication, presentation and negotiation skills are also deemed important in the current compe titive business world and the MBA prepares a student to such through intensive training not only in theory but especially through immersion to the tasks and business people through ‘on the job’ training programs.

Theories of Mental Health Illness Within Sociology

Theories of Mental Health Illness Within Sociology Compare and contrast two of the five approaches to mental health illness within Sociology. (social causation, social reaction (labelling theory), critical theory, social constructivism social realism) Mental Health Illness The issue of mental health has long been an object of study for society, the psychiatric professions and sociology has similarly had a long tradition of offering theoretical insights into the phenomenon. Why this might be is open to debate and many of the key sociological theories in relation to mental health have in fact as much to say about the prevailing viewpoints within society and within professional bodies towards mental health as they do about those who suffer from mental health related problems (Cockerham, 1992). The two most radical of the sociological theories concerning mental health have been social reaction or labelling theories as well as that of social constructivism. Both these theories examined within this essay offer a radical conception of mental health in comparison to what might be called the dominant medical and social views on mental health. However while both of these theories offer a radical view of mental health they differ substantially in the theoretical framework which they respectively utilize towards understanding mental health. These differences can be located in broader trends which have occurred within the discipline of sociology itself as a shift in the major theoretical traditions within the discipline, (Delanty, 1999). The two sociological theories examined are that of social reaction and social constructivism. Social Reaction This critical theory emerged in the 1960s which in itself might serve to highlight the broader critical strands present within society when this theory was formulated. Labelling theory works from the simple premise that to define someone as mentally ill conveys upon them a stereotypical image which the person will then act. It drew its framework from the symbolic interactionism school of sociology so at its root this theory sought to examine the ways in which roles and actors interacted and played out within the drama of mental illness (Pilgrim and Rogers, 1999. Thus for labelling theory the relationship between the patient (or the individual defined as ill), family, medical professions and society generally is the determining factor for analysis in relation to mental illness. For labelling theorists then the primary framework for analysing mental illness is to examine the twin concepts of primary deviance and secondary deviance. Primary deviance relates to things which might actually be wrong or actions or circumstances which involve actual rule breaking, (Pilgrim and Rogers, 1999) and for labelling theorists the most interesting item regarding this is the way those around sufferers rationalise and ignore this behaviour up unto a point, (Ineichen, 1979:11). Perhaps the most illustrative study of this phenomenon was the work of Yarrow, Schwartz, Murphy and Deasy (1955) which illustrated the various ways in which wives would dismiss strange behaviour up until a point was reached in terms of deviant behaviour. However it is secondary deviance which labelling theory sees as the much more problematic of the two forms of deviance and it is here that the links also between the second of our theories examined are strongest. For labelling theorists secondary deviance has a number of critical factors. But simply put secondary deviance refers to those manifestations of symptoms which are not related in any way to the actual physical incidence. Thus we might say that the aetiology of secondary deviance is a function of the societal conditions surrounding the individuals rather than intrinsic conditions within the individual themselves. As Rosenham (1973) states The question of whether the sane can be distinguished from the insaneis a simple matter: do the salient characteristics that lead to diagnoses reside in the patients themselves or in the environmentsin which observers find them (250). In Rosenhams case where eight pseudo-patients gained entry into hospitals on the pretence of being insane to answer to this question lay firmly in the area of the observers. While popular at first with a number of studies finding the concepts expressed in the theory to be true in a number of famous studies labelling theory has not decreased in popularity with a number of major criticisms being levelled at the theory as a result of further investigation and continued studies While labelling theory surmised that primary and secondary deviance were linked in that one will tend to lead to the other as a result of the ensuing interaction between the individual sufferer and those that label the sufferer this was not borne out by the research. In the case of Rosenhams study it was found that the label of deviant though at first an uncomfortable and disturbing experience did not persist for a great length of time with the pseudo-patients in the experiment, (Pilgrim and Rogers, 1999). Another weakness expressed in labelling theory is the relationship between the stereotypical images of the insane believed to be held by the public. If society was to blame for labelling the insane then it would have been expected that the images lay people had conformed to the images of diagnosis, yet research has shown that this is not the case. Indeed lay perceptions to mental illness have been demonstrated to only marginally relate to the images associated with medical diagnosis, (Pilgrim and Rogers, 1999:18). Labelling theory accepts then (and is a criticism of the theory) that a distinction can be drawn between physical disorders, primary deviance, and the ensuing reaction from society which causes secondary deviance. For the second theory we examine here the existence of both categories is dependent on society or in other words that mental illness exists as a completely subjective definition. Social Constructivism While referring to a broad range of social critiques across a many wide variety of disciplines it is perhaps best represented in terms of its comments on mental health by the works of the French theorist Michel Foucault. In particular his seminal work The Birth of the Clinic sets out the radical viewpoint with which social constructivism is associated. In this Foucault argues that insanity exists as a classificatory concept derived from the subjective description of medical knowledge. Or that the objectification of insanity occurred after as well as in tandem with the development of psychiatric knowledge, the insane developed as a problematised group which in turn led to strategies being developed to manage them, (Foucault, 1976) Superficially then we can see many similarities between these two theories in that both see a critical role for society in the determination of the meaning of mental illness. The critical difference is that while for social reactionists and labelling theorists a division exists between primary deviance which has a physical locus and secondary deviance which arises out of societal causes whereas social constructivists assign the loci of mental health strictly to the social environment. It does this through utilising the theoretical framework of discourses, thus the subjectivity of being mad is defined through the objectifying process of psychiatric or medical knowledge generally (Pilgrim and Rogers, 1999). While many works recently have adopted social constructivist viewpoints in relation to medical knowledge it is Foucaults works which are the best known and also which have been the most influential in developing this theoretical viewpoint. Foucaults work was in particular concerned with how the shifting conceptions of what madness meant to society led to the development of a discrete set of knowledges which pathologise mental states according to a classificatory system related to madness and what were the strategies which developed as a result of this knowledge towards the control and management of the insane (Foucault, 1972, 1976). This concept has had radial implications for a consideration of mental health and how it is defined in as well as by society. This theoretical framework can be seen thusly to criticise not only psychiatric practice but also psychiatric knowledge and even more critically the processes through which psychiatric knowledge is generated. Indeed from a social constructivist viewpoint it is the very construction of knowledge which leads to the boundaries and categories which delineates and determines who it is we call insane and indeed what it is that makes them insane for society. Perhaps the biggest criticism we can make of the social constructivist viewpoint is the lack of a normative basis to its analysis. While the critique may be valid social constructivist theories can be distinctly vague about resistances to the all powerful discourses which they describe and analyse. Similarly the ability to formulate social policies arising out of the critique may similarly be limited (Rogers and Pilgrim, 2001: 175). A secondary point and one which we have already made in relation to labelling theory is that perhaps social constructivism deconstructs too much certain incidences of mental illness, perhaps there are some illnesses which in their aetioloigcal sense reveal themselves to be indeed physical manifestations of what we might actually be able to call a disorder (Zinberg, 1970). Thus from this analysis we can see the close links as well as the clear differences between these two theories. While both are radical in their outlook we can argue that social constructivism has even been more radical. Similarly while social reaction theories have fallen out of favour along as well it must be noted as symbolic interactionsim in general social constructivist theories have been and continue to be hugely influential not only in relation to mental illness but to a broad range of social scientific disciplines and social issues. References Cockerham, W. C. (1992); Sociology of Mental Disorder; 3rd Ed., Simon and Schuster Co.; New Jersey US Delanty, G. (1999); Social Theory in a Changing World, Polity Press, Malden US Foucault, M. (1976); The Archaeology of Knowledge, Tavistock, London UK Foucault, M. (1976); The Birth of the Clinic, Tavistock, London UK Ineichen, B. (1979); The Social Structure of Modern Britain: Mental Illness, Longman, London UK Pilgrim, D. and Rogers, A. (1999); A Sociology of Mental Illness, 2nd Ed., Open University Press, NY US Rogers, A. and Pilgrim, D. (2001); Mental Health Policy in Britain, Palgrave, Basingstoke UK Rosenham, D.L. (1973); On Being Sane in Insane Places; Science, Vol 179 Jan Yarrow, M., Schwartz, C, Murphy, H. and Deasy, L. (1955); The Psychological Meaning of Mental Illness in the Family, Journal of Social Issues, Vol 11 No. 12 Zinberg, N. (1970); The Mirage of Mental Health, British Journal of Sociology, Vol. 21 No. 3

Aristotelian Rhetoric: Progression of Sophists Nascent Teachings Essay

Scholars and historians of rhetoric consider the Greek philosopher, Aristotle, one of the great contributors to our present understanding of this art which, since its early origins and until present, has been a controversial field of study because of its association with persuasion and influence. However, readings of the many ancient and contemporary texts and analyses of the origins and the developments of this ancient art marginalized the role of the Sophists, who were the first to introduce rhetoric to Greece, and usually associated them with the bad reputation rhetoric has acquired over the years. Undoubtedly, Aristotle developed rhetoric in a more comprehensive and systemized explanation than what the Sophists offered, but an examination of how this great philosopher reached his findings, and what elements formed his theory on rhetoric points out that the Sophists, who initiated this art, deserve a re-evaluation of their role and an explanation of their â€Å"unethical† p erspectives. In this essay, I consider the Aristotelian rhetoric to be a progression of the Sophists’ nascent teachings in rhetoric. Arguably, the â€Å"disdained† Sophists introduced a novel field of study that constituted a base for Aristotle’s theory. My argument is based on a chronological reading of the origins and development of rhetoric and recent studies on the Sophists and their discredited achievements almost since the great philosopher, Plato, staged his battle against them. I also regard the platonic versus sophistic approach to the definition of rhetoric, its goals and purposes, and its relation with the public as consequential factors of development of this art. Accordingly, I assume that this rivaling situation could not have existed without the sophisti... ...e’s concern of ethos was closely related with what he considered abuses of previous orators, including the sophists, who exaggerated the use of ethos and gave â€Å"rhetoric a bad name† (p. 89). However, Allen (1994) had another interpretation: Aristotle â€Å"infuse(d) ethos with a strong recognition of kairos: the speaker†¦adjusts his/her character to fit the moment, in order to establish a sense identification – of credibility as a member of the community† (p. 7). Aristotle is undoubtedly a great philosopher whose contributions in many fields, including rhetoric, constitute a foundation of our modern education and research. However, many scholars suggested that his theory was an evolution of a preliminary sophistic rhetoric that developed through the years by a group of travelling teachers who formed this art and played a major role in reinforcing democracy in Greece. Aristotelian Rhetoric: Progression of Sophists' Nascent Teachings Essay Scholars and historians of rhetoric consider the Greek philosopher, Aristotle, one of the great contributors to our present understanding of this art which, since its early origins and until present, has been a controversial field of study because of its association with persuasion and influence. However, readings of the many ancient and contemporary texts and analyses of the origins and the developments of this ancient art marginalized the role of the Sophists, who were the first to introduce rhetoric to Greece, and usually associated them with the bad reputation rhetoric has acquired over the years. Undoubtedly, Aristotle developed rhetoric in a more comprehensive and systemized explanation than what the Sophists offered, but an examination of how this great philosopher reached his findings, and what elements formed his theory on rhetoric points out that the Sophists, who initiated this art, deserve a re-evaluation of their role and an explanation of their â€Å"unethical† p erspectives. In this essay, I consider the Aristotelian rhetoric to be a progression of the Sophists’ nascent teachings in rhetoric. Arguably, the â€Å"disdained† Sophists introduced a novel field of study that constituted a base for Aristotle’s theory. My argument is based on a chronological reading of the origins and development of rhetoric and recent studies on the Sophists and their discredited achievements almost since the great philosopher, Plato, staged his battle against them. I also regard the platonic versus sophistic approach to the definition of rhetoric, its goals and purposes, and its relation with the public as consequential factors of development of this art. Accordingly, I assume that this rivaling situation could not have existed without the sophisti... ...e’s concern of ethos was closely related with what he considered abuses of previous orators, including the sophists, who exaggerated the use of ethos and gave â€Å"rhetoric a bad name† (p. 89). However, Allen (1994) had another interpretation: Aristotle â€Å"infuse(d) ethos with a strong recognition of kairos: the speaker†¦adjusts his/her character to fit the moment, in order to establish a sense identification – of credibility as a member of the community† (p. 7). Aristotle is undoubtedly a great philosopher whose contributions in many fields, including rhetoric, constitute a foundation of our modern education and research. However, many scholars suggested that his theory was an evolution of a preliminary sophistic rhetoric that developed through the years by a group of travelling teachers who formed this art and played a major role in reinforcing democracy in Greece.

Locke and Hobbes: Cause of Religious Toleration Essay

Historically, Locke’s treatment of toleration was one riddled with religious change, religious turmoil, and political changes that were shaped largely by religious tensions. This was a time when religion, specifically the Christian Church, became fractioned and led to widespread war and death in the sixteenth and seventeenth centuries. Locke’s Letter on Toleration promoted separation of church and state, arguing that each institution has legitimacy and power in certain areas. The state exists to protect people’s interests, and can use force to protect these interests. However, the state will not be able to coerce its people to believe in a certain religion. In Leviathan, Hobbes provides ideas that support Locke’s toleration of religion. Hobbes belief in the state of nature, state of war, and covenants helps to paint a clearer picture of a world without religious intoleration. Locke’s plea for tolerations is one of religious toleration in general but more specifically toleration among Christians. Locke speaks out against Christians whom â€Å"deprive (men) of their estates, maim them with corporal punishments, starve and torment them in noisome prisons, and in the end even take away their lives†¦Ã¢â‚¬ (Letter p.24). This type of intolerance is itself intolerable because it violates many mandates that should characterize a true Christian. The mandates of charity and meekness are violated, and those who have committed these aggressive and violent actions against others are in themselves hypocritical. These people are usually careless about their own virtues, imposing on others something they don’t practice. According to Locke, instead of looking into others moral salvation, they should practice looking into their own moral salvations as well as the salvations of family and friends. These same people are spending time and effort on trivial things like doctrinal matters and ceremonial preferences. Locke urges that one should not worry so much about matters that, on the surface are nice and intricate, but â€Å"exceed(s) the capacity of ordinary understandings†¦Ã¢â‚¬ (Letter p. 24). Instead of wasting time on these futile activities, one should actively try to better oneself. Separation of church and state is an important premise that buttresses his argument throughout the letter. It is a separation of civil versus religious authority and who has power of what domain. Locke argues that civil government has certain responsibilities for its citizens, which include preserving and advancing the civil interests, well-being and life of its citizens. Locke defines the one who wields civil authority as a magistrate and it is the magistrate who is enjoined to tolerate any religious doctrine, provided that these doctrines do not violate rights or disrupt the peace. Locke is intolerable of violations of rights of citizens and crime, or anything that disrupts the peace. Individuals do not have the power and position to respond and punish the criminals. That task is left to the magistrate. The magistrate has the ability to enforce laws through force but his coercive power must be kept out of religious matters, in so long as the religious matters do not hinder citizens’ rights and their peace. Locke believes that in religious matters, true belief in a religion requires more then the coercive power to make one believe. He argues if people are forced to believe in a religion against their will, it will not be as strong and effective unless the person consciously makes his own effort to believe. The ability for the magistrate to impose its power on its people is something Hobbes believes is a requirement and duty of a civil government. Men have an inclination towards peace, which is why men build commonwealths. Men want to get out of this state of war in favor of peace. Therefore, men come together in a commonwealth to make a covenant with every other man to establish peace and order. This sovereign now has the authority to enforce civil laws. This is a necessity because men by themselves cannot externally judge conflicts and will be naturally inclined to certain biases. By agreeing to this covenant, the people bestow upon a man or group of men power over sovereign. This covenant also holds responsibility for the people because they are the ones who gave power to the magistrate. To actually ensure peace, Hobbes says that a sovereign of this power is necessary. The question of the individual’s coercive power is another argument in favor of religious toleration. â€Å"No private Person has any Right, in any manner, to prejudice another Person in his Civil Enjoyments, because he is of another Church or Religion† (Letter p. 31). Tolerance brings about respect for the autonomy of the other. Since religious beliefs are freely chosen, there is no room for coercion to be a useful end because coercion and freedom cannot coexist in religious matters. Skepticism is another way religious believers can tolerate others holding different religions. Every religious person must tolerate one another because it would be foolish to believe that one person can have all the truths to the world. Similarly, Hobbes supports this argument through the state of nature. Having the freedom to choose ones religion is from the fact that individually, we are all equal. Hobbes believes that people are equal in strength of body and manifest of mind. There are differences, obviously, but Hobbes argues that these differences do not amount to much. We are fundamentally equal because we all have the ability to kill one another, whether it is through force or deceit. This constant threat of war between man and man is an important reason why men try to constantly seek peace. This state of nature provides us the liberty to our own self-governing because in the state of nature, there is no authority over man. Since man has no authority over him in the state of nature, naturally it would mean that man has no authority over another man. However, Hobbes continues that this natural condition of mankind is decidedly undesirable and should be avoided. From the natural state of man the desire for a stable government arises. Men are naturally equal but Hobbes believes self-preservation can only be had by constantly trying to acquire new property, or power. Power is the man’s means to some future good and the acquisition of more power is a constant cycle. Concerning the question of religious power, religious authorities also do not have the power for any coercive actions. Since religious authorities do not have the power to change someone who is not willing, they must respect and tolerate other religious churches or societies, even if there is disagreement with certain doctrines. Locke’s reasoning for the toleration of other churches stems from the belief of orthodoxy of the church. Every church believes that it is the Orthodox Church but Locke argues that people can never know which is the true Orthodox Church. However, he goes on to say that the true Church is the one that practices the idea of toleration. Despite Locke’s adamant stance on toleration, Locke does discuss certain beliefs that should not be tolerated. Locke specifically targets atheism because he believes that men should enter into some religious society because God should be publically worshipped. To Locke, atheists are the weak bones to a society because covenants and promises have no power over atheists. This causes problems within society because covenants and promises are the bonds of human society. Similarly, Locke also considers Catholics intolerable because of the political threat they represent. Catholic’s pledge allegiance to a foreign king. Locke views this as a problem because it brings into question who the Catholic pledges his loyalty to, the foreign king or his homeland king. Locke says that a person should be under the rightful king and not a foreign king. This means that any foreign jurisdiction in one’s country and any influence from the Vatican State is not acceptable. Locke also mentions odd religious practices, such as human sacrifice, as intolerable. The magistrate should make a conscious effort to not tolerate such practices because it could hurt society as a whole. Just because something is a religious matter should not dictate the legality of the practice. Hobbes would probably agree that atheists would not be tolerable under the condition that covenants and promises are not kept because they hold no power over atheists. Hobbes First Law of Nature is that human beings always seek a state of peace because it is the most advantageous to their survival. The Second Law of Nature is the creation of covenants. In Hobbes’s mind, the ideal covenant would be a leviathan government that would make and regulate laws very effectively. The Third Law of Nature is derived from the second, which states that it is necessary for men to perform their covenants. From these three laws, as stated earlier, men create a commonwealth to ensure peace. If covenants hold no power over atheists, the commonwealth and essentially peace is destroyed. Hobbes is adamant that to fortify this social contract, the members of the contract need steps to prevent others from breaching it. The Third Law of Nature creates a society where peace is established, but if a citizen is not held under contract, the political disruptions are more likely to occur. Locke’s primary rationale for toleration in the individual is the self-governing of the other. In Christina writing, loving ones neighbors is a key element in a Christian’s salvation. Locke emphasizes that one should only care for one’s own salvation rather than worrying about his neighbors or others religious teachings. By practicing toleration, one must ignore the content and be satisfied with the fact that the other has reached his conclusion autonomously. Before worrying about someone else, Locke urges that one must focus on ones own salvation because there are many instances where hypocrisy can rise by imposing ones beliefs. However, there are instances where non-intervention can be unjust because some matters are so offensive, it would be unjust to let it slide. Matters where injury or death can occur are justifiable for others to intervene. Even though this Lockean autonomy works most of the time, there are times where it would not. Locke’s reasoning for writing this letter, on the surface, seems to be from a religious perspective. However, a careful reading of the letter suggests that Locke is not interested in religious doctrines or practices. Locke finds that the religious differences are too insignificant for discussion. Although it is a letter concerning toleration of religion, this toleration is meant to benefit from a political standpoint. Reading the document with this point of view shows that Locke was writing it exclusively political in nature. Even though there was widespread religious violence and opposing opinions during the time Locke wrote the letter, it was a way for Locke to talk about the politics of society. This document was on religious toleration only because Locke viewed religion as having potential for civil disruption. This letter is a way for Locke to say what he believed was the means for maintaining peace and stability. To maintain peace and stability in a society requires sovereignty. The sovereign has the power and authority to govern its principality. Because it has the power to govern, it also gives the sovereign the right to use coercion. This does not give the right to religious institutions to use coercion because it has historically not worked in favor of the religion. The separation of church and state is therefore a way that Locke foresees peace in sovereign. Peace in sovereign is an important aspect to Hobbes’s Leviathan perspective because he views peace as the main reason we create societies. Religious toleration is therefore a tool that both Locke and Hobbes would advocate because it creates peace and unity in a sovereign.