Relationships Between Characters in Chinua Achebes Things...

Chinua Achebe unfolds a variety of interesting connections between characters in the Novel Things Fall Apart. Relationships with parents, children and inner self are faced differently, however the attitude that Okonkwo gave them determined what kind of outcome he generated from these relations. Okonkwo looks at everything through his violent and manly perspective and is afraid to show his real feelings because he thinks that he may be thought out as weak and feminine this paranoid attitude lead him to self-destruction. Okonkwo the son of the useless and unimportant father Unoka strives to become rich and successful in the Ibo, unlike his father who was simple, poor and always was in debt from all of the people around. Okonkwo tries to†¦show more content†¦He is very different form his father and in some way reminds us of Unoka who was a total opposite to Okonkwo. He is the black sheep and the scapegoat of the family, before Ikemefuna is in the house that becomes like an older brother to Nwoye and teaches him to be gentle but successfully masculine at the same time â€Å" Nwoye’s mother was very kind to him. Treated him as one of there own children† (27) â€Å" Nwoye †¦ became quite inseparable form him† (28). Okonkwo approves of Nwoyes actions and stops the beatings. Although Nwoye is now a â€Å"real man â€Å" he still misses his â€Å"feminine ways† for example music and the act o conversation. After Ikemefuna’s murder †My father, they have killed me!† †¦Ã¢â‚¬  Okonkwo drew his machete and cut him down.† (61). Okonkwo was scared to be weak, it seems like he associates weakness with felinity. Nwoye becomes closed and understands that he is forever changed. When the missionaries arrive Nwoye joins their side and converts into Christianity. Okonkwo hates that he has a rather feminine son and disowns him. Finally in the end Nwoye gains peace and forgets about his father’s terrible and violent atmosphere. An interesting character in Achebe’s Novel is Mr. Brown who symbolizes the productivity and prosperity of the colonial works. However Rev. Smith (Mr. Brown’s successor) is jealous, small minded and manipulative. He stands a contrast to Mr. Brown. Mr. Brown listens to the people in theShow MoreRelatedImperialism In The 19Th Century Resulted In European Countries1726 Words   |  7 Pagescountries.When Chinua Achebe published Things fall apart in 1958, a novel criticizing the European aspects of imperialism, his aspiration was to teach readers that â€Å"their past-with all its imperfections-was not one long night of savagery from which the first Europeans acting on God’s behalf delivered them†(Chinua Achebe on the Role of the African Writer, 1964). 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Okonkwo, the main character, and a great village man is highly respected in the Igbo tribe of Umuofia. Although, Okonkwo is highly respected by the Igbo people, they are fearful of him because of his violent anger. When the Europe ans arrived in Umuofia, they brought with them a new religion: Christianity. The Westerners changed Umuofia, destroyed traditionRead MoreChinua Achebe s Things Fall Apart1719 Words   |  7 PagesThings fall apart is a classic novel written around the turn of the century, the novel focuses on the protagonist who we can also call a hero, Okonkwo. Okonkwo is a wealthy and respected leader within the Igbo tribe of Umuofia in eastern Nigeria. Strong individual with a passionate belief in all the values and traditions of his people. Chinua Achebe presents Okonkwo as a particular kind of tragic protagonist, a great man who carries the fate of his people. Okonkwo is a man who is inflexible andRead MoreChinua Achebe s Things Fall Apart1325 Words   |  6 PagesAbdulhameed AlHababi Western Civilization 2 December 2, 2014 Things Fall Apart by Chinua Achebe Thing Fall Apart, first published in 1958, is Chinua Achebe’s first and most acclaimed novel. Achebe illustrates an approving rendering of Nigerian and African tribal life prior to and subsequent to colonialism. Achebe presents various aspects of a native African community, including war, women mistreatment, violence and conflict, while maintaining a balanceRead MoreHeart of Darkness by Joseph Conrad vs. Things Fall Apart by Chinua Achebe1476 Words   |  6 PagesHeart of Darkness by Joseph Conrad and Things Fall Apart by Chinua Achebe are two novellas written to make a statement about the struggles of early societies. Both stories stir up moments of hope, anger, disappointment, despair, and enlightenment in an attempt to inform the reader of the injustices and societal differences during the 1800’s. Heart of Darkness tells the story from a European Colonist perspective while Things Fall Apart illustrates the outlook of the African tribe member being colonizedRead More Things Fall Apart By Chinua Achebe969 Words   |  4 Pagesdue to the belief that everything about them is perfect. In the two books, Things Fall Apart by Chinua Achebe and The Tao of Pooh by Benjamin Hoff, the characters Okonkwo, Nwoye, and Pooh all illustrate the effects of accepting and or resisting change. In Chinua Achebe’s, Things Fall Apart, the character Okonkwo shows the negative outcome of resisting change. Due to a rough childhood and a strained relationship between his father, Okonkwo feared change and had quite a strive for success. GrowingRead MoreCharacter Analysis Okonkwo862 Words   |  4 PagesThings Fall Apart Analysis Essay Rough Draft Some characters are like oil and water, exhibiting contrasting qualities and desires. This contrast stems from the contemptuous relationship these characters have, which drives a character’s actions and emotions. For example, in his novel, Things Fall Apart, Chinua Achebe describes Okonkwo’s contemptuous relationship with his father to show its effect on Okonkwo’s character and his actions. Achebe included Okonkwo’s relationship with Unoka to shape OkonkwoRead MoreAnalysis Of Dragon s Village, Things Fall Apart, And Man Of The People1460 Words   |  6 Pagesbe found in the novels; Dragon’s Village, Things Fall Apart, and Man of the People surrounding China and Africa. Along with Deepa Mehta’s period films, Earth and Water and Iciar Bollain’s juxtaposition piece, Even the Rain that emphasize the circumstances that occurred in India and Bolivia. A master at providing alternative context to Africa and concepts of decolonization, Chinua Achebe wrote a great amount of literary work, including, Things Fall Apart (1956) and A Man of the People (1966). TheRead MoreThings Fall Apart Biblical Style Essay1407 Words   |  6 PagesChinua Achebe in his novel, Things Fall Apart, writes in a way that Erich Auerbach would describe as biblical style. Biblical style involves suspense, biblical allusions, the ambiguity of purpose, and gaps leading to interpretation. Achebe uses this biblical style to focus on the downfall of Okonkwo, the main character. One passage that exemplifies this biblical style is in Part One with Okonkwo in the sacrifice of his adopted son, Ikemefuna. Okonkwo kills Ikemefuna out of fear of what the other

Racial Segregation And Its Effects On The Job Of African...

Different sorts of separation exist inside of the working environment of today. These demonstrations of predisposition, whether conferred purposely or unknowingly, add to unfair employing and special practices. The US Break even with Circumstance Commission characterizes race separation as treating individuals distinctively in view of their race or the shading of their skin. This segregation gets to be unlawful when it introduces a harming impact on the job of the people of a specific race or shading. For instance, if there is a no-facial hair vocation arrangement that applies to all men in the work environment, without concern to race, it may in any case be illicit in the event that it is not occupation related and has a destructive†¦show more content†¦At whatever point people feel as if they have been oppressed in the working environment, it makes a not exactly alluring workplace with genuine impacts on the people. It doesn t simply influence the individual; the dispositions of kindred laborers should likewise be considered. At whatever point separation exists in the work environment, it has a tendency to bring down the confidence, and everybody is less beneficial (Hopkins, 1980 ). As per the literature, two components ought to be incorporated, which have the best effect in comprehension the view of segregation, are the accompanying: †¢ The characteristics of the individuals who perceive they are being discriminated. †¢ The nature of the perceptions of their current employment situation. Note that a singular s state of mind, instruction level, and family circumstance are every contributing component which could make the recognition that an individual is being oppressed (Hopkins, 1980). It is crucial that each association concentrate on both goal and subjective segregation. With the history, cases, and claims of segregation in the work environment, it simple to see that the law is clear about this subject. The incongruity in this is that cases exist where whites have documented suits for opposite segregation, because of governmental policy regarding minorities in society. Working environment separation is miserable and illicit, however being denied an advancement, in light of

Corporate Governance And Shareholders Commerce Essay Free Essays

Corporate administration and stockholders ‘ wealth have been closely related in history. The two constructs are closely related with different bookmans coming up with their impacts in the organisation. Corporate administration refers to a systematic method of supplying inadvertence and way to the mode in which an organisation operates. We will write a custom essay sample on Corporate Governance And Shareholders Commerce Essay or any similar topic only for you Order Now Harmonizing to Ruiz-Porras and Lopez-Mateo, corporate administration is concerned with duties and rights of an organisation ‘s direction, stockholders and other stakeholders such as clients and employees. Corporate administration impacts investing determinations of an organisation. Therefore, effectual corporate administration maximizes stockholders wealth and has to be considered when puting. Additionally, Michaelas et al pointed out that effectual corporate administration manages the company internal and external factors which contribute to stockholders ‘ wealth. The writers argued that, houses with effectual corporate administration prosper in planetary and domestic market whichultimately maximize stockholders ‘ wealth ( Michaelas, et Al, 1999 ) . Premier Oil is involved in the production of oil and gas, geographic expedition and development. The company is interested in oil and gas in North Sea, Africa, Asia and the Middle East. It has its central office in the UK, London, and has 638 employees by December 2011. It recorded ?827 million as gross in the financial twelvemonth stoping December 2011, an increase of 8 % as compared to twelvemonth 201, besides made a net income of ?175 million in the twelvemonth 2011 an increase of 38 % as compared to twelvemonth 2010. And a net net income of ?171 million during the twelvemonth 2011, an increase of 32 % as compared to twelvemonth 2010. This study is looking at if corporate administration maximizes stockholders wealth of the Premier Oil PCL and its public presentation over a period of four old ages that is 2008 through 2011. This is done by seting in to consideration the company ‘s balance sheet, income statement, hard currency flows statement and the ratios statement. Over the old ages at that place has been recorded an betterment in the hard currency influxs verses escapes every bit good as an improved net income and company liquidness ( Aswath 2007 ) . Even if liabilities as compared to capital increased, during the old fiscal twelvemonth to 44 % , the company is within the Gas, Consumable Fuels and Oil industry ‘s norms. Second, although the liquid assets can non fulfill current liability duties, the Net incomes that were realized are equal to provide for the debts. Harmonizing to the hard currency influxs recorded the company is effectual as in comparing to others in that industry. By December 31 2011, the company had ?205M as ungathered receivable ( Doyle Et Al. 2000 ) . Corporate administration The stakeholders of this company are the stockholders, debitors, creditors, direction, the Board of Director, providers, clients the authorities, and the general populace. Each of these has a distinguishable function to play, as per the organisation ‘s policies. Premier company is a profit-making organisation whose primary end is to maximise the wealth of the stockholders. Therefore, the stockholders have to guarantee that they have met the company ‘s capital part demands. In other words, a portion from supplying fundss, they straight and indirectly take part in the direction procedure of the company. This implies that they oversee the enlisting procedure for the executive and non-executive managers. At the same clip, it is their duty to do effectual and executable determinations in the company ( Graham 2010 ) . As already highlighted, the company has an Executive Board of Directors. This is under the chairmanship of Sir David John. This is the top most organized portion in this organisation, which is carefully appointed by the stockholders. Their major function is to supply the organisation with professional and experiential advice before doing any major determination which affects the full company. This is a baronial thought, because it provides the organisation with the ability to get the service of these experts cheaply. Prosecuting them as parttime workers enables the company to bask such services, which would otherwise be so expensive. The executive board works in concurrence with the non-executive board, which is headed by Mike Welt and Joe Darbi ( Mintzberg 1994 ) . At the same clip, Premier Company regards the involvement of other participants, every bit good. Although, the major aim is to maximise net income, it has become the company ‘s policy to safeguard the involvement of all the other stakeholders. Therefore, in its administration, the company consults groups like the providers, clients, public, and authorities. Oil and gas trade is going really moneymaking. Therefore, it has attracted a batch of participants doing competition stiffer than of all time. In this respect, the company ‘s direction involves each of these in major decision-making. The providers are seasonably and efficaciously paid their dues ; no clients are given measure merchandises as per their outlook. Meanwhile, authorities policies are implemented to avoid legal hassle ( Larson et al. , 1996 ) . Co-operate Governance Theories The theories discussed below give an penetration in corporate administration. Agency Theory In the Premier Company, stockholders are the top most decision-making parties. As the investors, they have a direct control in all the coevalss of the organisation. Because of this, they have felt it better to co-operate with agents to move on their behalf. In the construction of the organisation, there is the Board of Directors ; the Chief Executive Officer ( CEO ) and regional and state managers. Under them, there are the departmental directors oversing the operations of the finance, legal, human resource, gross revenues, selling, buying, operations, and geographic expedition sections ( Doyle Et Al. 2000 ) . These are the professionals specialized in the countries in which they are attached. All of them are given a full clip occupation, so as to acquire adequate clip to to the full dispatch their responsibilities with less restraint. In order to see the answerability and quality end product, direction has come up with schemes to transparently engage them on virtue, supervise, proctor, and actuate them. Each of them is entitled to a good working conditions and attractive wage bundles. Besides, they are involved in a batch of bureaucratic processs to see their boundaries are clearly outlined to do certain that there is harmoniousness and cooperation in all the sections. This is a good motivation because it has helped to actuate these executives. Hence, they have got satisfaction in functioning this organisation. This has motivated them to be focused on the achievement of the organisation ‘s ends ( Brassington A ; Pettitt 2006 ) . Resources Dependence Theory Premier Oil Company besides relies on the Non-Executive Board. The determination to integrate non-executive squad has helped this company a great trade. It was the stockholder ‘s position that such a board would dwell of high export from different Fieldss after carefully being selected. They would steward the company towards accomplishing both its long and short-run ends. However, in order to make this, they would be expected to demo their dedication and committedness in whatever activity they undertake. It was aware determination because it has enabled the company recognize a enormous growing. The Non-executive Board advises and counsels the Executive Board. Furthermore, in the association of this company, personalities like Welton have enabled it to reconstruct its repute. Therefore, it has won the assurances ( Becht et al. 2003 ) . Decision Premier Oil is an energy company to think with. Its model administration has expanded it from a mere public company to a transnational. The engagement of all the stakeholders in its personal businesss has enabled it to set up a good relationship with all of them. As a consequence, it has managed to enormously turn, therefore crushing all the odds and ends up being one of the bluish bit companies in London. As per the ratios the premier oil company can be said to be sound in its liquidness although is debitors ratios were negative. In footings of Capital it can besides be said to be making good. The company is in a good status to put in for the investors. Recommendations Admiting the successes of the corporate administration, it would be wise to seek and implement the undermentioned recommendations. The direction should see diversifying its activities. Specializing in oil and gas distribution map jeopardizes the fiscal stableness of the company. Alternatively, it should see embarking in other merchandises, such as excavation. This would enable the company to manage the hazards that would happen impacting specifically the energy industry. Premier Oil Company should non merely concentrate on the stockholders as the lone of import participants in its operation. Alternatively, there should be a displacement from this height. The stockholders should non necessary play a dominant function through. The administration scheme of this company should be reviewed. It should non be merely task-oriented. Alternatively, there should be a more human oriented attack, so as to give the work force free infinite to show they creativeness, fresh linguistic communication, and entrepreneurial accomplishments. How to cite Corporate Governance And Shareholders Commerce Essay, Essay examples

Business Impairment Loss Business Accounting Impairment

Question: Describe about the Business Impairment Loss for Business Accounting Impairment. Answer: Part A Before we understand the standard that narrates about the accounting for impairment loss and the relevant disclosure requirements what is important to understand is the meaning of the word Impairment first. When there is devaluation in the value of any asset it is termed as impairment. The said concept is covered under IAS 36 of the International Accounting Standard and AASB 136 of the Australian Accounting Standard. However the meaning and the accounting is same. The said standard gained importance off lately around a decade ago specifically after the global financial crisis which took place due to incorrect reporting of the assets by various companies (accaglobal.com, 2014). At the end of each accounting period every entity as per IAS 36 is required to conduct an impairment test of all its assets mentioned in the balance sheet except for the following: Inventories IAS 2 Construction Contract IAS 11 Deferred Tax Asset- IAS 12 Employee Benefits- IAS 19 Financial Assets IAS 39 Investment properties held at fair value IAS 40 Agricultural assets held at fair value- IAS 41 Insurance contracts- IFRS 4 Non-Current Assets held for sale- IFRS 5 After identifying which assets have undergone impairment i.e. the carrying amount is greater than the recoverable amount of the asset then the difference between the two is recorded as an impairment loss. Double entry for the same is done as per the accounting standard. Firstly the amount of impairment is treated as an operational expense and the said amount is deducted from the respective asset as accumulated impairment loss Whether an asset has been impaired or not can be understood by conducting an impairment test. This test comprises of various factors- external and internal. The external factors which enable one to conclude that an asset has been impaired are as under: If the market value of an asset has deteriorated considerably. If the market interest rate has increased to such an extent so as to give a negative impact of the same. An unfavourable change in the legal, political or economic scenario. The net asset value of a company is greater than its market capitalisation The factors internal to the asset are as under: If the asset has become obsolescent. If the asset is held for sale or disposal. If the companys performance has deteriorated considerably (Thornton,2014). However if the management feels that the asset should be impaired after conducting due tests then it is very important and necessary to revisit the useful life of the asset, the depreciation method to be used and the residual or the salvage value of the asset. After all tests, the company should find out what is the expected amount of an asset that can be recovered. However if the individual recoverable amount per asset is not possible then the recoverable amount of the cash generating unit to which such an asset belongs should be calculated. A cash generating unit is basically a group of assets of a company which is capable of producing cash flows for the company independently. It is therefore very important to understand the calculations for finding out the recoverable amount of the asset. It is the higher of the far value of the asset less the cost of selling the same or the value in use of the asset i.e. the net present value of the future cash flows that is expected to be generated from the asset. The discount rate that is used while calculating the NPV is the current market risk free interest rate (pwc.com, 2014). It is very important to understand that once an asset gets impaired it can always be reversed. If on conducting the impairment test it is understood that the value of an asset that was previously impaired no more exists then the impairment loss can be reversed but for goodwill. Thus the value of all assets which has been impaired can be reversed but the value of goodwill once impaired can never be reinstated. If the value of the cash generating unit is to be reversed even then the value of all assets can be subject to such reversal but for goodwill. The reversal cannot exceed the carrying amount of an asset that would have been had the asset not been impaired previously after deducting requisite depreciation from it. The accounting entries for such reversal is a revaluation increase in the profit and loss account and the said amount si added back to the respective asset (ifrs.org., 2014). The standard also specifies the disclosure norms for such impairment. They are enumerated as under: The below mentioned detail should be mentioned for each class of the asset: The impairment loss that has been recorded in the profit and loss account and the line item(s) of the statement of comprehensive income in which the impairment loss is recorded. The impairment loss reversed and recorded in the income statement of the company and the line item(s) of the statement of comprehensive income in which the impairment loss reversal is recorded. The value of the loss due to impairment of revalued assets which are recognized in the other comprehensive income during the period. The value of the amount of impairment reversed of the revalued assets which is recognized in the other comprehensive income during the period (iasplus.com, 2014). In case the company does segmental reporting then the following is required to be disclosed with regards impairment. The impairment loss which is recorded in the income statement and in the equity during the accounting period. The impairment loss amount which is reversed and recorded in the income statement and in the equity during the accounting period. Every company is required to disclose the following in case the impairment is of a material nature of an asset or a CGU including goodwill. The factors both internal and external that led to the recognition or reversal of impairment. The amount by which the asset is being impaired or the loss being reversed. For single assets the entity is required to disclose the nature of the asset and in case it does segmental reporting as per IFRS 8, then the segment to which the impaired asset belongs to is also required to be mentioned in the disclosures of the said standard. For a cash generating unit being impaired, disclosures with regards the nature of the CGU and the amount of impairment recognized or reversed of the assets in the CGU (Ec.europa.eu, 2010). Thus on a concluding note, it is very important to conduct impairment tests periodically so as to portray a true picture of the assets of the company to the investors and its customers. It is critical to disclose the same in the notes to the financial statements so that the users of the annual report can understand the data about impairment without much ambiguity involved. Part B In the said case study first and foremost inventory is the only asset which is not subject to impairment and is covered under the standard IAS 2. Thus the assets which would be impaired are goodwill, shoe factory, and machinery for manufacturing of the shoes. However the brand Crossbow Shoes will not subjected to any impairment as the company has simply shifted its mode of selling to online which is a clear indication fot he fact that the said asset is not subject to impairment. First and foremost is land. Land is one such asset whose impaired amount is known separately. The total financial position of the entity as on the date of reporting is $1680000 and the recoverable amount is $1420000. Thus it is clear since the recoverable amount is lesser than the carrying amount hence the assets are subject to impairment. The total impairment is $1680000- $1420000 = $260000. Now since the recoverable amount of the land is known separately i.e. $171000, hence the impairment loss of land is $200000- $171000 = $29000. The journal entry for the same is Profit and Loss Account (loss on impairment) Dr...............$29000 To accumulated impairment loss (Land)...............................................$29000 Next, as per IAS 36, since the recoverable amount of the other individual assets is not known hence first and foremost the goodwill will be impaired to the full. After the same the rest of the assets will be reduced on a prorate basis (ey.com, 2014). Thus the remaining amount of impairment after allocation of $29000 to land is $231000 ($260000 - $29000), of which $40000 is allocated to goodwill and $191000 is allocated to the factory and the machinery in the ratio of 7:4. Thus the impairment loss for factory is 7/11*191000 = $121545 and for machinery is 4/11*191000= $69455. The Journal Entries for the same is : Profit and Loss Account (loss on impairment) Dr.................$231000 To goodwill A/c.....................................................................................$40000 To accumulated impairment loss (Shoe Factory)A/c...........................$121545 To accumulated impairment loss (machinery) A/c................................$69455 References: accaglobal.com, (2014), IAS 36 Impairment of Assets, Available at https://www.accaglobal.com/in/en/discover/cpd-articles/corporate-reporting/ias36-impairment.html (Accessed 19th September 2016) Ec.europa.eu, (2010), International Accounting Standard 36- Impairment of Assets, Available at https://ec.europa.eu/internal_market/accounting/docs/consolidated/ias36_en.pdf (Accessed 19th September 2016) ey.com, (2014), Impairment Accounting the basics of IAS 36 , Impairment of Assets, Available at https://www.ey.com/Publication/vwLUAssets/Impairment_accounting_the_basics_of_IAS_36_Impairment_of_Assets/$FILE/Impairment_accounting_IAS_36.pdf (Accessed 19th September 2016) iasplus.com, (2014), IAS 36 Impairment of Assets, Available at https://www.iasplus.com/en/standards/ias/ias36 (Accessed 19th September 2016) ifrs.org., (2014), IAS 36- Impairment of Assets, Available at https://www.ifrs.org/IFRSs/Documents/Technical-summaries-2014/IAS%2036.pdf (Accessed 19th September 2016) pwc.com, (2014), Making Sense of a complex world- IAS 36 Impairment of Assets, Available at https://www.pwc.com/gx/en/communications/pdf/ias36_impairment_of_assets_final.pdf (Accessed 19th September 2016) Thornton, G., (2014), Impairment of Assets- A Guide to applying IAS 36 in practice, Available at file:///C:/Users/E-ZONE/Downloads/IAS%2036%20Impairment%20of%20Assets%20-%20A%20guide%20to%20applying%20IAS%2036%20in%20practice.pdf (Accessed 19th September 2016)

Origins And Bibliography Of The Big Bang Theory Essays -

Origins and Bibliography of the Big Bang Theory ORIGINS: Background & Bibliography ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Assembled for the PHILOsophy Conference of: Computer Connection PO Box 382 BBS (609) 784-9404 Voorhees, NJ 08043 by T.A. Hare Nov. 13, 1985 Topic: Areas of interaction between philosophy, science, and?religion. Part I - Big Bang (Astronomy) Part II - Unified Field (Particle Physics) Part III - Evolution (Biology). Part IV - Theologic interaction - - - - Part II - Unified Field Theory of Particle Physics: ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ And God said, "Let there be an expanse between the waters to separate water from water." (Gen. 1:6) And God said, "Let the water under the sky be gathered to one place, and let dry ground appear." And it was so. (Gen. 1:9) - - - - Further reading: 1. John H. Schwartz, "Completing Einstein", SCIENCE 85, vol 6, pp 60-64, 1985. 2. Robert Palmer, "What's a Quark?", SCIENCE 85, VOL 6, pp 66-71, 1985 3. Bruce Schechter, "The Moment of Creation", DISCOVER, April 1983, pp 18-25. 4. Lawrence R. Sulak, "Waiting for the Proton to Decay", AMERICAN SCIENTIST, 70, 616-625, 1982. 5. Mary K. Gaillard, "Toward a Unified Picture of Elementary Particle Interactions", AMERICAN SCIENTIST 70, 506-514. - - - - The following background articles were downloaded from American Adacemic Encyclopedia via Dow Jones News Retrevial Service; Nov 12, 1985 UNIFIED FIELD THEORY Classical attempts at devising a unified field theory, principally those of Einstein, were concerned with the combination of gravitation (the general theory of RELATIVITY) and electromagnetism into the same theoretical framework. Electromagnetism is described by MAXWELL'S EQUATIONS for an antisymmetric tensor, whereas Einstein's theory of gravitation centers about a symmetric metric tensor; Einstein's idea was to combine both descriptions into a single, nonsymmetric tensor, thereby treating both subjects from an essentially geometric point of view. Other attempts to incorporate electromagnetism into the basically geometric formalism of general relativity were made by Hermann Weyl (1918) and more recently by John Wheeler; although some theories are more esthetic than others, all lack the connection with quantum phenomena that is so important for interactions other than gravitation. More-recent attempts at unification have been made from the quite different point of view of merging the quantum field theories that (are supposed to) describe the four FUNDAMENTAL INTERACTIONS of gravity, electromagnetism, and the weak and the strong nuclear interactions. The most palatable unification so far has been given by Steven WEINBERG of Harvard University and independently by Abdus SALAM of Imperial College, London, joining electromagnetism and the weak interactions. In the simplest version of this type of unified gauge theory, forces are transmitted by the exchange of four different types of particles called bosons, which are assumed to be massless. By means of a "broken symmetry" an effective generation of masses occurs, so that the Weinberg-Salam theory envisages the weak interactions as being transmitted by massive "W" mesons, in which one meson, identified with the photon, remains massless, while the other three, identified with the quanta that transmit the weak interaction, are estimated to be quite heavy. Their rest-mass energies are on the order of 50 to 100 times the mass of the proton, and their observation should become possible with the next generation of high-energy accelerators. So far, the Weinberg-Salam theory has passed every unambiguous test to which it has been subjected. Weinberg and Salam shared the 1979 Nobel Prize for physics for their model. Many other unified theories, involving strong interaction and even gravitation, have recently been proposed. Such grand unification schemes to date have unavoidable and questionable consequences, such as the removal of the separate conservation of baryon and lepton number; they predict a proton could decay into a lepton plus pions--an improbable event that is actively being searched for at present. Recent grand unification schemes require the existence of magnetic MONOPOLES. These hypothetical particles, also called grand unification monopoles (GUMs), are thought to be very massive, with a mass ranging from 10 to the 16th power to 10 to the 19th power GeV. No experimental evidence of monopoles has yet been found. H. M. FRIED Bibliography Bergmann, Peter G., Introduction to the Theory of Relativity (1942; repr. 1976) Einstein, Albert, The Meaning of Relativity, 5th ed. (1956) Hadlock, Charles, Field Theory and Its Classical Problems (1979) Tonnelat, Marie A., Einstein's Theory of Unified Fields (1966). - - - - RELATIVITY Albert Einstein's theory of relativity has caused major revolutions in physics and astronomy during the 20th century. It introduced to science the concept of "relativity"--the notion that there is no absolute motion

American Academy of Nurse Practitioners and Its Activities

American Academy of Nurse Practitioners and Its Activities In terms of my role implementation, I have selected to work with the American Academy of Nurse Practitioners. It is imperative to note that this organization was incepted way back in 1985. It serves nursing practitioners from various areas of specializations. In addition, the organization is currently the largest nursing body that offers comprehensive membership to all nursing practitioners.Advertising We will write a custom essay sample on American Academy of Nurse Practitioners and Its Activities specifically for you for only $16.05 $11/page Learn More In other words, the American Academy of Nurse Practitioners offers a platform through which nurses can voice their opinions on various issues affecting them (American Academy of Nurse practitioner, 2012). In regards to its membership portfolio, the organization currently serves about 155,000 members countrywide. This number has been growing steadily over the years as more nurse practitioners continue to join the organization as professional members. While the American Academy of Nurse Practitioners may largely appear as a rights advocacy group for nurses, the key role of the organization is to propagate for active and effective role of nurse practitioners as important providers of healthcare services that are cost effective and of high quality. The organization also aims at attaining the mission of leading nurse practitioners towards revamping healthcare delivery for patients by offering a professional membership for nurses. The organization also operates under some core values which it adheres to strictly in order to achieve its mission and vision. These values include integrity, excellence, leadership, professionalism and service. As a matter of fact, the organization encourages inclusivity, discipline and unity among its professional members, higher levels of transparency and accountability as well as visionary, proactive and innovative leadership (American Academy of Nurse practiti oner, 2012).Advertising Looking for essay on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More The nursing board which supports my role in this type of organization is the Florida Board of Nursing. This board has well defined set of laws that govern the operations of nurse practitioners. The statutes contained in the act formulated by the Florida Department of Health outline Acts related to nursing practice, and certified nursing assistants (Florida Department of Health, 2007). The document also contains nursing programs, requirements for licensure, administrative policies that must be adhered to by nurse practitioners, continuing education requirements, inactive status and the procedures followed before deactivating operating licenses that are not active as well as various fees levied by the board. It is worth to mention that all nurses who practice in various states have to be licensed. Needless to say, the Florida Department of Health through the Florida nursing Board came up with these Acts and guidelines in order to monitor the operations of nurses within the state. Each of the operating nurses in this state has to meet the requirements stipulated in the statues (Florida Department of Health, 2007). In overall, the board clearly states that these regulations are meant for safe practice and that those practitioners who fail to adhere to the set guidelines will be forbidden from running their operations in Florida. From the above discussion, it is evident that the American Academy of Nurse Practitioners and the Florida Nursing Board have been put in place to provide checks and balances among nurse practitioners. However, it is vital to assert that the Florida Nursing Board is more of a legislative body that formulates and implements rules and regulations for nurses who operate in this state. On the other hand, the American Academy of Nurse practitioners is largely a professional body accredi ted to oversee the professional well being and development of the nurse practitioners. Team work is necessary if both organizations will have to achieve their goals (Drinka Phillip, 2000).Advertising We will write a custom essay sample on American Academy of Nurse Practitioners and Its Activities specifically for you for only $16.05 $11/page Learn More References American Academy of Nurse practitioner (2012). About AANP. Web. Drinka, T. Phillip, C (2000). Healthcare Teamwork: Interdisciplinary practice and teaching. Westport: Auburn House. Florida Department of Health (2007). Florida Board of Nursing: Nurse practitioner Act and Rules of the Board of Nursing. Web.

Critically evaluate the banking system in Switzerland Essay

Critically evaluate the banking system in Switzerland - Essay Example In 2002, the FBC called for stricter regulations to combat money laundering and the funding of terrorist activities as well thorough regulations in dealing with assets belonging to infamous political figures. An edict calling for eradication of unidentified overseas money transfers was introduced in 2003. These legislation have aimed at streamlining the structures and offer more flexible systems in order to improve competitiveness. 1.2 The Universal system However, there are several specialized banking groups in Switzerland. The domestic banking market is dominated by eight groups of banks. Two of the largest banks, United Bank of Switzerland (UBS) and the Credit Suisse Group, offer varied financial services that include portfolio management and underwriting. They also participate in the stock market. Switzerland has seen a reduction of the number of banks from more than 600 banks in 1990 to slightly more than 350 in 2004 courtesy of consolidation and mergers. It is the purpose of this paper to look at some of the considerations taken into account by the regulatory authorities (Swiss National Bank & The Federal Banking commission) as they endeavor to provide direction for banking institutions. Deposit acceptance and lending are some of the fundamental functions of banking institutions. A section of this paper will focus on costs and degree of risk associated with banks' lending activity in a rapidly changing financial market. Hanson, J.L. (1974) Mergers bring with them

Unit 5 DB Research Paper Example | Topics and Well Written Essays - 250 words

Unit 5 DB - Research Paper Example Most of the gases occur naturally in the air while others are due to human activities. They include carbon dioxide, methane, and nitrous oxide. Global warming is real. This is due to the release of greenhouse gases in the atmosphere that cause the earth temperature to rise. Of all the greenhouse gases emitted into the atmosphere, carbon dioxide occupies the large percentage of emission (Hogue, Johnson & Kemsley, 2013). This is mainly due to the burning of fossil fuels in electrical powered generation and industrial production. There is evidence that global warming is true and continues to take place. This is seen at the speed in which ocean level is rising. This is because global warming results to warming water that then increase water capacity. The increased water volume is also due to melting of glaciers. The melting of glaciers continues to be reported in Greenland and West Antarctica (Conservation International, 2012). Increased water volume has negative consequences for islands in the Caribbean and low-lying coastal areas Sound science is a term used when defending an argument on an issue. This term is used to indicate that individuals in a case have facts on their side (Society of Environmental Toxicology and Chemistry, 1999). This term has helped in supporting the theory of global warming, as there is evidence that it is affecting people in different parts of the globe. There are various ways to reduce carbon emission. They involve the use of nuclear energy as a source of electricity, reliance on geothermal and wind power, planting of trees, and reduction of fossil fuel

The impact of knowledge sharing on Hotel Industry effectiveness in UK Literature review

The impact of knowledge sharing on Hotel Industry effectiveness in UK - Literature review Example This, in turn, can have positive implications for London hotels, restaurants and the tour operators and increase their overall profitability. However, the number of hotels keeps increasing and the competition becomes tougher as the market share gets divided among a large number of players, which decreases profitability of individual hotels. From the current trend, it transpires that the hospitality market shows a mixed response and factors such as region and sector do exercise a crucial influence in determining the trends in profits. Similarly, the profitability in certain regions and sectors may be reflecting the impacts of certain temporary phenomenon such as some major events and the consequent surge in tourist flow rather than a sustainable change in market structure. On the other hand, the advent of computer and internet technologies has facilitated an environment where hotels have access to about â€Å"1000 times more data than a decade ago† and hotels can make use of it for furthering their business (Toedt 2013:15). In a market condition, which remains uncertain and volatile due to its dependence on a variety of variants, companies have to look for appropriate strategies to cushion the risks and set off possible failures in the market. Thus, they have to integrate all possible management concepts in their day to day functioning to ensure their smooth operation and optimizing their potential in the marketplace. This becomes especially relevant in the case of companies in the hospitality and hotel industries because of their unique characteristics that make them susceptible to seasonal fluctuations apart from conditions that apply to other industries. Similarly, some of the major management concepts that are being integrated to other industries are not being implemented in hospitality industry. A good example of this is Knowledge Management (KM), which emerged in the recent years as a management concept to enable companies to attain optimum efficien cy and â€Å"sustainable advantage† over their competitors (Isa et al 2008:103). Hotels need to explicitly manage their â€Å"intellectual capital† by incorporating knowledge management principles into their day to day functioning (103). With the advancement in information and communication technologies, major changes have occurred in all spheres of management, to stay compatible to the ever evolving technologies and to update employees with the emerging innovations. Similarly, there is an imperative requirement for employees engaged in the hospitality industry to keep themselves abreast of the latest developments in technology and other fields so that they can understand the effects of such changes in different â€Å"elements of business† and easily adapt to the changes occurring the society around them (Carina Antonia Hallin & Einar Marnburg 2007). Christensen (2003) argues that in the recent years, knowledge has become the significant component of business op erations to achieve as well as â€Å"sustain competitive advantages† (2). He defines knowledge management as process that involves several â€Å"mechanisms and structures† necessary to handle knowledge as well as understanding various aspects and stakeholders of such knowledge that one pursues (3). In the backdrop of a dramatic

Movie Run Lola Run Film Studies Essay

Movie Run Lola Run Film Studies Essay Cinema that interests me is cinema about openings, unresolved questions and experiements, †¦ without refusing chaos, chance, destiny or the unexpected. This quote by Tom Tykwer (Composer), epitomizes how he is trying to explore the range of possibilities in film. Also making it distinctive to draw in the audience by having open ended possibilities in film. The movie Run lola run directed by Tom Tykwer and the red tree written by shaun tan, both establish two core ideas which are chance and time. The use of a variety of techniques create distinctively visual images that are highly distinctive. Chance is an idea which is clearly portrayed in both texts. In the movie, Run lola run, the director uses flash forwards to empitomize this idea of chance. The audience witnesses the lives change for the people that lola bumbs into on her journeys, and how their lives change each time to how lols life changes. This is seen with the lady with the pram that lola encounters each time as she beggings her run. This symbolises the unpredictability of life. Lolas destiny in each three stories, so do the lives of the people that she sees. The use of the fast non-digetic sound of the clicking of the camera, allows the audience to feel a sense of urgency. This reflects the idea of fate, that our choices, circumstnces and actions are all connected with those whom we encounter in life. The audience gains a sense of knowledge and is made aware that their life is unpredictable and their actions affect others. Furthermore, the use of characterisation is evident in the main character Lola. The idea of using a female as the protagonist of the film is what makes this post-modern film so distinctive to all the other films in todays society. As a result, lola feels at time, that she isnt in control of her destiny and uses her loud, high-pitched scream to change that. The reoccurring digetic sound of lolas scream is mainly evident in the casino scene, where there is a close-up on Lolas face as she screams to control her destiny with the ball to land on the number 20, as she plays the ultimate game of chance. The audience is made to feel anxious as the wait to see the result of her scream. Hence the idea of chance is also presented in the picture book, The red tree. The metaphore the world is a deaf machine, is used in conjuction with the dull colours used to portray that the persona, the little girl, feels unheard and fears that her destiny will be to end up alone and not belong in society. The reader is automatically drawn to empathise with the persona as how a little girl can be unheard and be left all alone. Thus, the use of composiotion layout is used in the middle of the picture book. Where the vector image is a game board which symbolises chance and many paths, also it is evident that the girl in the corner of the page is holding a dice, this dice represents the idea of fate. This illustrates to the reader that the persona believes that her life is a game and also she is unsure of the future. All the above techniques used in both the film Run lola run and the picture book the red tree influence the idea of chance and the use of visual techniques are what makes these texts both so distinctively visual. Time is an important idea in both texts which is constantly reoccurring. At the beginning of the movie run lola run, the opening credits, an animated lola is seen running towards a clock as the sound effects of tick tocking sounds. Allow the audience to be aware of the importance of time in this film. Hence, the close upshot of the pendukm grand-father clock in the opening credits, helps aid the importance of time. The reaccuring motif of clocks and the number 20, 20 minutes to save mani, generates drama and exicitment, also reminding the audience of lolas race against time. Furthermore, the audience is with lola in her journey for the real time of 20 minutes. This gives the audience the knowledge of what lola actually completes in 20 minutes. This technique is what makes this post-modern film so distinctively visual. Furthermore, the use of split screen image is constantly reaccuring in the tri-part structure of the film. This is shown in the multiple scences between mani, lola and the town clock, as lola competes against time to get to mani and save him. This is used to engange the audience and make them wonder what is going to happen next and allow them to wonder if she will make it in time. Simliarily the idea of time is present in the picture book, the red tree with the reoccurring motif of the red leaf. The persona at the start of the novel doesnt pay attention to it, however towards the end of the book she notices it and it is evident that a smile begins to form on her face. This is used to symbolise to the reader that it takes time for a good outcome to occur also that in ones life timing is everything. Furthermore the repition of and wait.. symbolises that the persona is just waiting for something to happen. This makes the reader feel sympathetic to the little girl. This visual technique is used to make both texts so distinctively visual. Also the different events in each of the characters life, helps shape the texts to be unique. In conclusion, the movie run lola run and the picture book the red tree the use of many visual and aural techniques has created texts that are portrayed to be distinctively visual.

Free Essays Settings, Characters, and Ideas in The Blue Hotel :: Blue Hotel Essays

Settings, Characters, and Ideas in The Blue Hotel The Story "The Blue Hotel" by Stephen Crane was one that inspires a lot of thought. This thought is about settings, characters, and ideas. The characters he creates are very different from each other, as shown in comparisons to each other. The use of symbolism in the story lets us imagine why the hotel is painted blue and we can wonder about the character of the Swede for long periods of time. These elements combined have made this story very good. The settings in the story are a very big focal point of Stephen Crane. He develops them very well and makes them actually serve a purpose in the story. The color blue painted on the outside of the hotel could symbolize its old age and the dark and dreary atmosphere surrounding it. The hotel seems to be a microcosm because it is the central point for all of the story's characters. The only place that they interact with each other is inside of the hotel and the main points of the story happen there. All of the violent confrontations happen i n the hotel or around its grounds. The main fight between the Swede and Johnny is outside in the bitter cold in the street. The hotel could possibly change the characters thinking and cause them to be really weird. This is shown when Scully shows the Swede pictures of his dead family (269). What person in their "right" mind would show someone who thinks they are going to be killed a picture of someone who was killed? These examples show how the settings are more important then the characters themselves. The characters are very odd in this story. It's very hard to think of how such a group could have been formed. The differences among the men are large. The cowboy is the rugged and sinister type, while the easterner is very open and joyful. Johnnie is not like his dad, Scully. They seem to be foils of each other. The Swede is just very unique and in a class by himself. He is a classic case of a paranoid schizophrenic. Don't believe me? How about when he says, "I'm crazy-yes, but I kn ow one thing" (267). That one thing is he knows is that he will be killed soon, very soon. The problem and/or question of whether or not the Swede would have been killed whether Johnnie had participated in that fight by his cheating or not, is easy to answer.

Ielts Task

www. ieltsbuddy. com – Free online IELTS Advice IELTS Sample Essay – Alternative Medicine This IELTS sample essay tackles the subject of alternative medicine. When you are asked whether you agree (or disagree), you can look at both sides of the argument if you want. This shows that you have good academic skills as you are able to see both sides of the issue. It can also sometimes be a good idea to look at both sides of the argument because it may be easier for you to brainstorm ideas. If you just look at one side, you may run out of ideas. If you look at both, then there are more ideas to discuss.In this IELTS sample essay, the writer disagrees overall with the opinion presented – that alternative medicine is ineffective and possibly dangerous. However, in the first body paragraph the writer discusses what those who agree with this opinion think. In the second body paragraph the writer then gives the reasons why he/she disagrees. In other words: Body 1 = the disa dvantages of alternative medicine Body 2 = the advantages of alternative medicine It is then a good balanced conclusion as the writer states that they are best used together. Question:You should spend about 40 minutes on this task. Present a written argument to an educated reader with no specialist knowledge of the following topic. Currently there is a trend towards the use of alternative forms of medicine. However, at best these methods are ineffective, and at worst they may be dangerous. To what extent do you agree with this statement? Give reasons for your answer and include any relevant examples from your own experience or knowledge. You should write at least 250 words. www. ieltsbuddy. com – Free online IELTS Advice www. ieltsbuddy. om – Free online IELTS Advice IELTS Sample Essay Model Answer Alternative medicine is not new. It is accepted that it pre-dates conventional medicine and it is still used by many people all over the world. I am unconvinced that it is d angerous, and feel that both alternative and conventional medicine can be useful. There are several reasons why the conventional medical community is often dismissive of alternatives. Firstly, there has been little scientific research into such medicine, so there is a scarcity of evidence to support the claims of their supporters.Furthermore, people often try such treatment because of recommendations from friends, and therefore come to the therapist with a very positive attitude, which may be part of the reason for the cure. Moreover, these therapies are usually only useful for long-term, chronic conditions. Acute medical problems, such as accidental injury, often require more conventional methods. On the other hand, there remain strong arguments for the use of alternatives. Despite the lack of scientific proof, there is a lot of anecdotal evidence to suggest that these therapies work.In addition, far from being dangerous, they often have few or no side effects, so the worst outcome would be no change. One of the strongest arguments for the effectiveness of alternative therapies in the West is that, whilst conventional medicine is available without charge, many people are prepared to pay considerable sums for alternatives. If they were totally unhelpful, it would be surprising if this continued. I strongly believe that conventional medicine and alternative therapies can and should coexist.They have different strengths, and can both be used effectively to target particular medical problems. The best situation would be for alternative therapies to be used to support and complement conventional medicine. (280 words) Comments The writer in this IELTS sample essay introduces the topic in the introductory paragraph (Alternative medicine†¦ ) and puts forward a clear view on the issue (I am unconvinced†¦ and feel†¦ ). The essay has a well-balanced argument looking at both sides of the issue. The first body paragraph expresses some doubt about alternativ e therapies (†¦ ittle scientific research.. .only useful for long term†¦ ), but in the second body paragraph the writer takes a different view (On the other hand†¦ ) and examines the benefits (†¦ few side effects). The writer's concluding paragraph offers a strong opinion (I strongly believe†¦ ) and sums up the fact that both types of treatment are valid today. There is also a good range of grammatical structures (If they were totally unhelpful, it would be†¦ ), and connectors (despite the fact, in addition, finally). www. ieltsbuddy. com – Free online IELTS Advice

The Elements of Transition and Threshold Spaces

Passage infinites are those infinites that are passed through in the journey to finish, some being the finish themselves.Threshold is a starting point or point at which something begins to take consequence.Passages and thresholds are infinites or points of alteration in a journey. They define our place in relation to where we have come from and where we are traveling.The experience and impact of a passage infinite is influenced by how it is revealed and how it relates to its milieus.It is believed that we, the perceivers are in a uninterrupted duologue with the infinite we are detecting. All the elements in the infinite speak to us. The more dominant 1s tend to talk first or we can state reveal foremost. This disclosure creates interesting experience through a passage infinite, making a better sense of journey and topographic point. There are assorted ways in which infinites or elements in the infinite are revealed. â€Å"Much of the delectation of a topographic point lies in how one gets to it.†2 2 Kevin Lynch,Site Planning, 3rd erectile dysfunction. ( Cambridge, MA: MIT Press, 1984 ) , 329.It is hence non incorrect to state that it is the creative activity of journey, the passage infinite and the disclosure of objects or elements both touchable and intangible, which generate stimulating experiences and heighten the sense of topographic point.The spacial experience of a passage infinite is a series of assorted degrees of containment and openness, shadow and visible radiation, degree alterations, frontage beat and forms and assorted other factors.The elementsPassage through infinites can besides be looked at constructing degree. We can see passage infinites in a vehicle and other on pes. So one is vehicular experience and other is prosaic experience. For a prosaic it is the finer inside informations that he experiences. He perceives all points of difference and alteration within the boundary really accurately, which he would be given to lose out while detecting from inside a v ehicle. The proportions and densenesss of edifices along the border of the streets influence the experience of the journey along the street. There may be narrow streets with tall edifices on both the sides. There are other streets with edifices on one side and unfastened countries on the other side. In both the instances the prosaic experience is rather the antonym, one gives the feeling of containment while the other gives you the feeling of openness. The feeling of openness is enhanced when it comes after the feeling of containment or frailty versa. These intangible feelings of containment and openness can be generated by many more ways. The interior decorator merely has to play with the volume of the passage infinite and the borders in order to bring forth these feelings. One must besides gain that a infinite might non be unfastened in true sense but it in relation to the infinite predating it or infinite next in row can be considered unfastened. This brings us to another facet o f a passage infinite which is they are frequently perceived in relation to infinite environing it.In order to understand passage infinites it is really of import to understand thresholds. As antecedently mentioned thresholds are like points of alteration in a journey. A door in the wall is a threshold which connects two otherwise separate infinites. Some interior decorators use different elements like little bridging elements to make thresholds. These thresholds enhance the sense of topographic point by restricting the position of what is beyond and make expectancy. Some usage thresholds to concentrate or pull attending towards a certain component in infinite. So in one topographic point thresholds are used to hide while in the other they are used to uncover.Thresholds for different edifices are designed otherwise. You will detect a toran with graven images of Gods and goddesses carved out in them in the thresholds of a Hindu temple. Whereas you will detect a corbelled arch with a w ooden door as a threshold in a house. Some thresholds are designed to stand for the position of the edifice or the street.Since clip immemorial the drama of shadow and visible radiation have been used to make a beat within the street or even inside a edifice. Shadow of the edifices, trees, vehicles parked, people and other objects create a beat. You may detect that it is at these points where people pause before traveling on to the following infinite. Just like shadow adds deepness in a 2D picture, the drama of shadow and visible radiation add life to any infinite. If the enchantment of shadow or visible radiation is big plenty to go a possible infinite so interior decorators create thresholds at the alteration from shadow to visible radiation and visible radiation to shadow.Other normally experient characteristics are stairss. They connect and separate infinites. They can make a sense of reaching. The placement of the flights of stepss influences the experience of reaching. The ste ps contained within the passage infinite defined by the edifices create a strong sense of separation.Through dividing the flight into two the tallness of the flight is less dashing and a infinite is defined by the landing. The landing becomes a passage into the confined infinite and the stairss at the terminal lead out of the infinite.Peoples are a really of import portion of the experience.Lynch, Kevin, 1967,The Image of the City, 3rd print, MA: MIT Press, Cambridge, Massachusetts, and London, England. â€Å"Moving elements in a metropolis, and in peculiar the people and their activities, are every bit of import as the stationary physical parts. We are non merely perceivers of this spectacle, but are ourselves a portion of it, on the phase with the other participants.† The sight of old people sitting and reading newspaper, kids running about or playing games, adult females speaking in the front pace and making family jobs are a common sight in societies. It is these people that add life to any infinite. A market topographic point with people is more welcoming and pleasant than one without them. This does non intend that a topographic point without people appears dead. Even without people the infinite is still alive. The place and seting propose a infinite that is used by the people who live at that place, the scooter parked in the street suggests that person is place, the stairss lifting up to a door connect the street to the upper degree. The Windowss looking over the street perforate the mass of the edifices supplying connexion between interior and outside, a sense that person could be watching. The figure of doors accessing a public infinite affects the security of the infinite. An flat block serviced by merely one entree onto the street activates the infinite every bit long as there are people utilizing the door, but when no 1 is coming or traveling a individual door offers no indicant of the figure of people utilizing it. Multiple doors indicate a larger figure of people potentially utilizing the infinite. The more doors that entree a public infinite the greater the sense that people could emerge from the door, supplying activation and security in the infinite. Nowadays people have started edifice boundary walls. They frequently have one chief gate. The infinite outside the walls is activated merely when people use that gate. You can visualize a school gate with tonss of little kids running out of the gate. The street in forepart is active merely so. A boundary wall may be supplying security to the people inside but it makes the infinite around really insecure. At times t he infinite within the boundary walls is besides non safe. An easy solution to this job of security is to increase the porousness in the walls. Many doors accessing a street work the same manner.

The Planet Mercury as a School Science Fair Project

The Planet Mercury as a School Science Fair Project Mercury is the closest planet to the sun, and this makes it unique in our solar system. There are many interesting facts about this planet, and it is the perfect topic for a school science fair project. Middle and high school students can take a science fair project about Mercury in a number of directions. The display can be interactive and include a model of the planet, as well as amazing space photographs. Why Is Mercury Special? A science fair is meant to be a students exploration of a single science topic, and Mercury is often overlooked when it comes to the planets. In fact, it is a planet that we know very little about. In 2008, NASAs Messenger spacecraft sent back some of the first images of the planet since the 1970s, and it just crashed on the planet in 2015. The pictures and data scientists collected from this mission makes now a better time than ever to study Mercury at a science fair. Mercury and the Sun A day on Mercury lasts longer than the time it takes the planet to revolve once around the Sun. If you were standing near Mercurys equator: the Sun would appear to rise, then briefly set again, before resuming its path across the sky. During this time, the size of the Sun in the sky would seem to grow and shrink as well. The same pattern would repeat as the sun set - it would dip below the horizon, briefly rise again, then return below the horizon. Mercury Science Fair Project Ideas What is Mercurys place in the solar system? Build a scale model of our solar system to show where Mercury is and how big it is in comparison to other planets.What are the features of Mercury? Could the planet sustain some kind of life? Why or why not?What is Mercury made of? Explain the core and the atmosphere of the planet and relate those elements to things we find on Earth.How does Mercury orbit the sun? Explain the forces at work when the planet orbits the sun. What keeps it in place? Is it moving further away?What would a day look like if you were standing on Mercury? Design an interactive display or video that shows people how the light would change.What did NASAs Messenger mission to Mercury find? In 2011, the Messenger spacecraft reached Mercury and gave us a new look at the planet. Explore the findings or the instruments used to send them back to Earth.Why does Mercury look like our moon? Examine the craters of Mercury, including the one named for John Lennon and the one mad e when Messenger crashed there in 2015.

Basic Network Technology, Structure, and Protocols Essay - 2

Basic Network Technology, Structure, and Protocols - Essay Example These tutorials are meant to shed light on the networking topics covered by students in college. They can also be used for references purposes by engineers and computer scientists. The projects done by students are meant for visual demonstrations on what the tutorials cover. For instance, the client-server flash interactive animation covers protocols and computer networks in general. It is a project done in 2005 by Roman Margolis and Slav Podolsky. Animations are usually developed to show, visually, what might not be clear when just put into words alone. The 2005 animation project shows how communication happens over the internet. This normally happens via the client server architecture; as the tutorial explains. A client communicates with a server and the server responds with the information requested for by the client and sends that information. Servers are numerous and are situated at various locations around the globe. Servers can be within the same room as a client computer whil e others can be remote. The protocols described in the tutorial are: IP between client-server, address resolution DNS and ICMP. The internet communications flash animation is very interactive. This is very useful as it provides detailed information and explanations as well as graphical representations of the topic it describes. This tutorial is not only useful to computer science students but also lovers of technology and the curious computer user who may want to know how some things work on the internet. It explains how to go about surfing the internet for certain information. The computer is personified for humor purposes and it definitely does not fall short in that regard. The interactivity that the two above tutorials provide is the sole reason I choose to go through them and learn a thing or two. They are easy to understand – I believe anybody can understand them. As for the business purposes that the tutorials can be used for, animated

History of Baseball in America Assignment Example | Topics and Well Written Essays - 500 words - 1

History of Baseball in America - Assignment Example In the year 1942, he joined Brooklyn Dodgers and initiated a plan to transport a black player inside the team that would not only accelerate team’s performance but also delivers a socially aware message to the American society for its benefit. However, he was also skeptic that the inclusion of the black player will need to be more than a brilliant athlete with state wrong mental strength to restrain from being provoked by the unfriendliness and foul languages that might otherwise raise disagreements imposing negative effects on the team’s sustainability. After exploring many players from Negro leagues, Branch Ricky decided to involve Jackie Robinson in the year 1945. Jackie was an African American baseball player, who was then playing with Kansas City Monarchs, an important group in the Negro Leagues (The Library of Congress, n.d.). In that time many economic and other multifaceted problems forced and entertained the racial segregation in baseball. For instance, a number of major league teams used to give their stadiums on rent to the Negro Teams only when their own team was on a long journey; thus, hindering cross-communication between the two groups. Consequently, if integration would have been conducted in the sport, the Negro teams would have lost their best players and the Negro League would face difficulties to carry on as a result many of Negro players losing their source of revenue. Moreover, with such practices, the stadium owners would lose their rental profits (The Library of Congress, n.d.). Notably, the existence of these political and economic obstacles increased complexities in the integration process. To avoid these hazards, Branch Ricky proposed Jackie to be a part of a major league in March, 1945. In August, 1945, they met at Brooklyn Dodger’s office where Jackie was informed that Ricky would be starting a new team named Brown Dodgers. Subsequently, Jackie agreed to sign the bond with Brooklyn’s Triple-A minor league farm club, the Montreal Royals.

Financial Information for Business Decision Coursework

Financial Information for Business Decision - Coursework Example According to the report the company deals in third party land development and capital management. Nevertheless, it runs capital management trusts referred to as Hercules Unit Trust, the Pillar Retail Europark Fund and the Hercules Income Fund. The headquarters of the company is in London, at the Seymour Street. However, the business model adopted by the company is both risk aversive and opportunistic, which enables them to be in a position of attaining the long-term growth in her shareholder value. The major focuses of the company include: the maximization of equity returns, which is done via optimal financing and joint ventures; it aims at the creation of incomparable or excellent long-term ventures with strong covenants; it also focuses on the major assets in the office and retail sectors; as well as aiming to enhance the property returns via active development and management. In addition, we find that flexibility is imperative to high returns for the company that is both in terms of business financing and business organization. This will greatly enable them to take advantage or capitalize on the changes in the property market. From this study it is clear that whenever a business is started, we find that it either implicitly or explicitly adopts a specific business model, which defines the design of the creation of value, its delivery, as well as the capture of the mechanisms applied by the business enterprise. Nonetheless, the significance of a business model is its description of the way by which the business venture delivers value to its clients, attracts the clients to pay for value and also changes the payments to returns. Therefore, it reflects the presumption of the management as regards what is wanted by the clients, and the way a business can be in a position of meeting those needs in the best way possible, get reward for doing so and making a profit.

Challenging the Status Quo of Technology in Business Outline Essay Example for Free

Challenging the Status Quo of Technology in Business Outline Essay I. Introduction A. Getting in trouble as a teenager, led this innovative mind to reshape technological advances to better suit Business needs as society sees it today. B. Any Idea can be great; implementation of that idea takes careful planning and a smooth technological framework to seamlessly pull it off. C. Choosing to eschew the established ways most seek out their lives, Bill Gates chose to cultivate his interests, even by getting in trouble with a corporation at a young age while capitalizing on an error in a system, and pivot these ideas into a multi-billion dollar enterprise. See more: outline format for essay D. An active dedicated mind that sees inadequacies around them is the best way to fuel innovative changes to streamline a business need. Having the keen ability to identify holes in logic and process is an opportunity to identify the need for change from an improvement standpoint. E. A successful individual with a thirst for understanding of technology, and a desire to improve the ways that business can be protected, while being innovative in managing daily and long reaching business goals, has demonstrated ways to streamline efficiencies all while improving revenues, and decreasing overhead. This successful, driven and adaptable individual defined ways for businesses to thrive, all while ultimately making it less complicated for users of a product to perform certain work tasks, while staying better organized and documented. II. My program Technical Project Management A. I selected Technical Project Management, as it is Essential for Business, and is an in demand field. B. In two and a half years, I will have successfully obtained my Bachelor’s Degree, allowing me to fulfill my desire to participate in changing business climates, and help manage all aspects of project implementation with a strong understanding of all the skills required to manage projects from a technical standpoint. C. To be successful in the Technical Project Management field I will need to be able to effectively identify all aspects of a project from a management perspective, these skills are defined by Schiff (2013, January 15) as Highly Organized, and good multi-tasker, Have the ability to take charge and know how to lead, Be an effective communicator, Know How and When to Negotiate, Be Detail Oriented, Recognize and Solve Problems Quickly, Possess the necessary technical skills (Schiff, J 2013)* III. An effective leader demonstrates efficiencies of leadership by possessing core values of Honesty, Focus, Passion, and overall respect. A. An effective leader is defined by how they utilize a combination of nature and nurture is the obvious core element in the development of personality (Williams, 2005) * B. Positive leadership traits can be summarized with the following attributes: Williams (2005, June) defines positive leadership traits as: Personal consistency, Discipline and Integrity. Intolerance of mediocrity. A concern to build mutual trust. Focused passion for the business. Recognition of the critical importance of emotional intelligence in leadership. (Williams, 2005).* IV. William Henry Gates III ‘Bill Gates’ A. Wikipedia provides the following to describe Bill Gates:† William Henry Bill Gates III (born October 28, 1955) [2] is an American business magnate, investor, programmer, [3] inventor [4] and philanthropist. (Wikipedia 2013) * 1. Relevant formative details: in 1975 Gates, a sophomore attending Harvard University, had read a copy of Popular Electronics that demonstrated the Altair 8800. Gates contacted Micro Instrumentation and Telemetry Systems (MITS) the creators of the new microcomputer and informed them that he and others were working on developing software from a program BASIC which was designed for large computers, after creating the program and meeting with MITS executives resulted in a deal and this new adapted software would be included in the first microcomputers. It would be at this point that Gates would not return to Harvard to finish his degree, instead he partnered with Paul Allen and named their partnership Micro-Soft. The team would later drop the hyphen, and then three years later moved back home to Washington and established corporation paperwork in Bellevue, where Microsoft and Bill Gates would become the leader, and powerhouse of software development. Wikipedia 2013* 2. As Co- Founder, and Chairman of Microsoft, Currently Bill Gates is regarded as the single most successful business person in the PC industry for all his contributions to consumer ready personal computer products. Wikipedia documents that Time Magazine named Gates one of the 100 people who most influenced the 20th Century, as well as one of the 100 most influential people of 2004, 2005 and 2006 (Wikipedia 2013)* B. Your reasons for selecting this person 1. Bill Gates is a pioneer of technological office products which forever changes how businesses are able streamline efficient technologies. Bills quest for knowledge of how things worked, and how they could be improved started in his formative years while attending the Lakeside School in  Seattle Washington, where he took an interest in programming the new computer system the school had recently purchased. As a result of his expressed interest in this computer system he was excused from Math classes to peruse his interest. (Wikipedia 2013) * 2. I intend to utilize mainstream software as part of successful implementation for projects that I manage in technical in project management. I have a profound level of identifying things that do not work around me, and am constantly striving to question ways, and implement solutions that are going to streamline an efficiency. I Intend to utilize the products that Bill Gates has created for businesses, such as Microsoft Office Suite of Products, along with supplemental products such as Microsoft Project which are the most widely utilized programs in the currently among businesses. V. Your own leadership qualities and success traits: As a leader I am capable of showing those around me a better more efficient way to manage tasks, I intent to continue to broaden this knowledge and share with others. My success traits are that I am extremely personable, and easy to interact with. My overall personality is very outgoing and friendly making fast friends in any environment. I have strong values and morals, which are easily recognized upon meeting with me. These traits are essential when forming relationships in any structure, especially in business. A. My personal strengths that I am able to take and apply towards being a leader is having the Personality Type Assessment show me I am an ENFP The Inspirers personality. Per the assessment I am creative and industrious; I am easily able to find success in activities and projects that are of interest to myself, and I am great at motivating others as well as being organized, however I am not overly fond of routine. Additionally the MIS assessment showed me that I am stimulated in my multiple intelligences by Rhythmic, Visual, Interpersonal, Body/kinetic and Intrapersonal learning styles. (Sherfield, Moody 2011)* 1. These assessment showed me that I am a compassionate, outgoing emotionally connected, perceptive individual that works well in dynamics with others where external stimulations such as visual, rhythmic, Interpersonal, Body/kinetic, and Intrapersonal interactions suit me best. These align with my values of compassion, caring, honesty and Respect. By understanding how I work best, I am better able to be a leader by utilizing my strengths to help hone those skills. 2. I am able to be successful by focusing on my ability to be an outgoing and emotionally invested leader demonstrating that I am dynamic in how I can learn, lead and relate, therefore showing others dynamic ways of approaching related tasks, and embracing ideas. 3. I plan to employ my strengths by overall action. A person that is able to show and demonstrate excellent qualities will gain respect, and therefore earn the trust of those they are trying to lead. B. The areas of weakness that I possess are related to how I handle conflict. Per the conflict management assessment I realize that I have a very strong ability to try and resolve conflict, I do however have room for improvement. I need to work better at becoming adept at handling conflict so that I may do well with mediation, negotiation and anger management. That will in turn make me more approachable so that people may turn to me in times of need for advice about conflicts and possible resolutions. (Sherfield, Moody 2011) * 1. The positive changes you need to make in order to resolve weaknesses: I need to focus on managing spikes in my anger towards people that manage to irritate me when I am trying to help them learn something. I will undoubtedly gain a higher level of respect by treating others with respect instead of allowing myself to become agitated at the pace or aptitude of others. 2. Your plan for resolving these weaknesses: to focus on moments when I  feel myself become angered, and attempt to stop from speaking, or acting any further without first looking at the situation from a broader aspect, and seeing the potential areas for improvement. VI. Conclusion A. It is often the ones that get in trouble and challenge the status quo, that make the best innovators and leaders that shape our business to an ever growing and improving dynamic. Being a leader in this field takes courage, and a quest for the ever present Why. Those that challenge and ask why are often the ones that present new ideas to change our course as society. Strength and courage to continue challenging the status quo, and teaching others new ways is what defines a leader. B. I feel that Bill Gates is an unequivocal pioneer in the field of business technology. He challenged so much about what was out there, and had the courage in his vision to make great changes. Bill Gates created systems and programs that would further streamline how businesses are able to conduct their day to day activities by creating and packaging licensed products that are essential tools for any successful business. I look forward to learning more about these programs, and to employ them when I am working in my field of study. C. I plan to enroll in additional courses outside of the DeVry Degree Program that will provide me with additional training on Microsoft Suite of Applications specifically Microsoft SQL a server application that businesses utilize to extract data when executing systems testing requirements. References Schiff, J (2013 January 15). 7 Must-have Project Management Skills for IT Pros (1) Sherfield, M. Moody P. (2001) Cornerstone: Creating success through positive change, Sixth Edition. Boston, MA: Pearson. Williams, M. (2005, June). Leadership for leaders. London, GBR. Thorogood Publishing Wikipedia. Bill Gates Retrieved October 1, 2013 at: http://en.wikipedia.org/wiki/Bill_Gates

Reasons Behind Lehman Brothers Bankruptcy

Reasons Behind Lehman Brothers Bankruptcy Undoubtedly, the complexity and unpredictability of the external environment-market forces/stakeholders influenced the way and manner Lehmans CEO, Mr Richard Fuld behaved. He involved himself and his organization into unethical practices due to so many expectations on them. The market competition was getting very fierce, so he had to bend the rules in order to keep his organization profitable. Market complacency, weak financial regulations, lack of transparency and poor internal financial control policy led to the demise of Lehman Brothers. Mr Fuld adopted the omnipotent view of management but told the U.S House of Representatives Committee on Oversight and Government Reform that the collapse of his firm was totally out of his control-i.e. symbolic approach. This indicated a weak moral culture/development at the preconditional level. His ethical inclination indicated a utilitarian approach which involves decision making based on favorable anticipated outcomes. Clearly, the fall of Lehman Brothers was a preventable man-made disaster. He enshrined a very poor risk management culture in the organization by offering highly leveraged Mortgage Backed Securities. Even if Mr. Fuld felt the economic tides were beyond his control as he proclaims, he should have at least sold the company early enough the way Merrill Lynchs CEO smartly did. But his ego as well as poor management insight took a better part of him. Lehman never engaged in real Corporate Social Responsibility, rather what they did was philanthropy with ulterior motives in mind. They never issued a CSR report of any kind depicting lack of transparency and accountability. There is no denying the hard and bitter truth that we are experiencing a global financial recession with many a nation counting their losses. We are in fact going through possibly the worst global credit crisis since the Great Depression. Given that the world is flatter and with advancing technology, global financial markets are now integrated thus making an otherwise national financial market a global phenomenon. By a simple click of a button, billions of dollars can seamlessly traverse national boundaries at the speed of light. Sadly, this global financial meltdown originated in USA due to the widespread subprime mortgage defaults, economic recession is affecting all the major players of world economy. By September 2008, the credit crunch, which started around 2006, had alarmingly ballooned into Wall Streets biggest crisis since the Great Depression as hundreds of billions in mortgage-related investments went sour; mighty investment banks that once ruled high finance firmament crashed. In the midst of this conundrum, accusing fingers are been pointed at different quarters; some blame the regulatory authorities over complacency and blind-faith, while some blame the private and investment banks over greed, poor corporate governance/practises and investment decisions. The worst hit directly were the insurance companies, investment banks, Hedge Fund operators, Large Mortgage Lenders such as Lehman Brothers, Merrill Lynch, Bear Stearns, Fannie Mae, and Freddie Mac etc. The United States government has been battling to starve off what has surely snowballed into a global economic recession by acquiring national mortgage giants: Fannie Mae, Freddie Mac, AIG as well as midwiving Bear Stearns Cos Incs sale to JPMorgan Chase. Bank of America took over Merrill Lynch. While these bailouts were going-on, a blind eye was turned on the struggling fourth largest investment giant- Lehman Brothers. Consequently, the Lehman brothers filed for bankruptcy on September 15, 2008 as a result of the Fed refusing to bailout them out or at least backstop their toxic assets. 1.1 CASE ISSUES The case issues discussed are: The Internal and External Environment We shall evaluate how these environments interacted with Lehman Brothers. Managerial Ethics Reactions are bound to be elicited as organizations continue to interact with their environments. Hence we shall attempt to assess how Lehman Brothers behaved and reacted in accordance with ethical theories and standards. Corporate Social Responsibility Lehman Brothers Social Responsibilities as well as their attendant consequences shall be evaluated. PART A 2.0 THE INTERNAL AND EXTERNAL ENVIRONMENT OF LEHMAN BROTHERS 2.1 The External Environment: Organizations do not operate in a vacuum because they derive their ultimate existence from the environment. Environmental factors whether specific or broad-based, influences an organizations strategy for survival and profitability. Lehmans external environment consists of its stakeholders such as Mortgage financiers, Hedge Funds, Pension Funds, Government Regulators, Commercial Banks, Investors, Credit Rating Agencies, employees, Home Owners, Small and Large companies, etc. See figure below for a schematic diagram of Lehmans overall environment. Figure 1 GLOBAL ECONOMICS DEMOGRAPHICS POLITICAL/ LEGAL TECHNOLOGICAL SOCIOCULTURAL Suppliers Pressure Groups LEHMAN BROTHERS Customers Competitors How uncertain and complex is Lehman Brothers environment? Below is the Uncertainty matrix used to evaluate how the external environment affected Lehman Brothers. Figure 2 ENVIRONMENTAL UNCERTAINTY MATRIX Source: Robbins, Bergman, Coulter, Management 4e, 2006, Pearson Education, Australia Due to the type and nature of business, Lehman Brothers falls within the cell block 4: which connotes a dynamic and unpredictable environment characterised with many components and a high need for knowledge. Hence, Lehman stands the chance of been influenced by the external environment which may reduce the influence of its managerial decisions and interventions. Lehman Brothers broader environment as it affected their activities, behaviour and outcomes are discussed under the following sub-headings using the Political/Legal, Economical, Socio-cultural and Technological changes, PEST analysis: Political/Legal: Lehman Brothers which was formed some 158 years ago was initially involved in assisting large corporate firms such as Sears, Roebuck and F.W. Woolworth, etc raise capital to expand their businesses. During the 1930s, the Lehman Brothers diversified into strictly Securities business when the U. S government forced all financial institutions to choose between commercial banking and Securities. Lehmans portfolio deepened following the repeal of the Glass-Steagall Act in 1999, during the Clinton administration. The act prohibited banks from investing on Wall Street, thus shielding consumers from riskier transactions. Once that protection was abolished, Lehman was able to gamble; and it became among the largest issuers of Mortgage-Backed Securities making its share price to climb from its 1994 price of $5 to $86 in 2007. As a result of Lehmans desperate attempts to compete fiercely with its core rival, Morgan Stanley for market share, it employed several under-arm tactics that exposed it to several bitter brushes with the law amounting to multiple litigations (See appendix 1). This further hurt its corporate image by brewing fear, panic, distrust amongst its stakeholders resulting in it been abandoned during its time of need. Lehman would have been saved just as Fannie Mae, Freddie Mac, Bear Stearns and AIG under the current political climate, but there were outstanding issues involved e.g. the Federal Reserve picked out big holes created by the toxic assets in Lehmans balance sheet coupled with their refusal to come out clean to the public. Instead, Treasury and Federal Reserve bosses, Messrs Henry Paulson and Ben Bernanke respectively, preferred to save others because they felt that allowing these (Fannie Mae, Freddie Mac, Bear Stearns and AIG) to fail would have resulted in a cataclysmic cascade of events that will consume not only in the U. S economy but the Worlds. Moreover, Mr Paulson never believed it was right to use taxpayers money to save Lehman. Whether this was a right decision remains to be seen as the Lehmans bankruptcy has inevitably crippled global financial markets worldwide. Economic: The Macro and Micro-economic environment which Lehman Brothers operated played a vital role in its demise. Indeed, what basically happened to Lehman was typically a simple economic case of supply outstripping demand. After the terrorist attacks of September 11, 2001, the Fed greatly lowered interest rates in other to stimulate economic growth and prevent deep recession. Expectedly, the largest Wall Street firms began reacting to this Federal Reserve policy of extremely low rates at which money was borrowed by purchasing billions of dollars of subprime mortgage loans. These were most likely bought from nonbank mortgage companies, which borrowed money from companies like Lehman in order to make loans and quickly resell them to Wall Street. Bear Stearns and Lehman Brothers almost monopolised this market as other players like Merrill Lynch were late arrivals to the highly leveraged/risky subprime lending and securitizing business. Lehman offered bulk loans to nonbank lenders, also purchasing mortgage products and then turning them into Asset Backed Securities (ABS), and then selling these bonds to end investors basically made up of the insurance companies, Hedge Funds, Pension Funds, Local Governments and foreign banks. The Securities and Exchange Commission escalated the already worsening economic situation in 2004 by encouraging these investment banks through the relaxation of the pre-existing limits on leverage. Expectedly, the leverage ratios of the five largest independent investments banks hit the rooftop (Labaton, 2008). Lehmans greedy internal financial policy did not help matters at all, as it offered potentially dangerous leverage ratios as much as 30:1, asset-to-equity ratio (Table 6, see appendix 2). Given this scenario, any 3% drop in value of assets completely blows out the entire value of equity thus rendering the company bankrupt. Nevertheless, Lehman grew rapidly, playing a dominant role in the securitisation market and the leveraged lending businesses posting quarter after quarter of record earnings from 2004 to 2007. Even after the economy had recovered, the U.S Fed notoriously kept interest rates low which made mortgage payments even cheaper and affordable thus greatly reducing the likelihood of defaults to barest minimum. Therefore, demand for homes began to escalate, sending prices up. In addition, millions of homeowners seized the opportunity of rate drops to refinance their existing mortgages. As the industry became saturated (as virtually everybody now owned a home), coupled with the never-ending competitive rivalry among lenders, the quality of the mortgages went down resulting in the erosion of underwriting standards. For the fear of inflation due to excess liquidity in the markets, Fed started increasing interest rates which eventually made mortgages already owned, worth less than the amount for which they were initially purchased due to higher payments. This sent widespread panic across all stakeholders which to loss of confidence and trust in financial markets leading to mortgage defaults and subsequent foreclosures. With this ugly scenario playing out, coupled with the Lehmans increasing inability of meeting its debt obligations, investors lost confidence in its stocks resulting to bankruptcy with about $613 billion in debt. Socio-cultural: These are factors such as behaviours, beliefs, values, demographic trends as they affect organization. A majority of Lehmans workforce belong to the generation Y. Generation Y are generally lifestyle oriented, tech-savvy, ambitious, impatient, etc. Because they generally flock to where the money is, Lehmans top management continued to do everything in its power to retain its best brains. With the continuous availability of low interest funds, change in consumer taste became the norm. An individual who otherwise wouldnt have been able to afford a house now had access to owning more than one house. This made the public adopt the culture tending towards investment rather than consumerism which affected other real sectors of the economy. This change in consumer taste favoured Lehman initially because of increase in mortgage demands. Soon Lehman had no borrowers for its mortgage products because everybody now had a house; and with the increase in interest rates, foreclosures became appare nt because the real weak financial status of its borrowers became obvious. Technological: Advancement in technology played a very double-edged sword role at Lehman Brothers. It brought about drastic reduction in the cost of creating mortgages. The growth of the internet coupled with easier availability of information about potential borrowers by the simple click of the mouse button, encouraged it to rely more heavily on convenient sources of information, such as credit scores and ratings, rather than on the more labour intensive time tested methods. It also made searching for a new set of borrowers easier and less costly, mortgage offerings using bulk email sending tools. On the other hand, these innovations created what economists call an agency problem. Since the mortgage originator was no longer going to hold the mortgage to maturity, but rather was going to immediately sell it to a securities firm and collect its fees upfront, it did not have a strong inclination to conduct a thorough appraisal of the loan. 2.2 The Internal Environment The internal environment of any organization basically symbolizes its culture, personality, commonly shared values and beliefs (Robbins S., et al, 2006). Companies will react to same circumstances differently due to the differing cultures that distinguish them. Furthermore, an organizations internal strengths and weaknesses as well as opportunities and threat, SWOT can play a vital role in its success or failure. 2.2.1 Lehmans Culture Lehmans CEO, Mr Richard Fuld in my opinion is viewed as an omnipotent leader because he single-handedly turned the fortunes of the company around when he assumed office in 1994. He ran the organization like a warfront where he enshrined a very strong culture amongst his subjects. His colleagues even nicknamed him Gorilla because of his imposing stature on the firm as nobody not even outsiders dared challenge his ideas, policies and decisions. This behaviour was not unexpected because Lehman has had a long history of hostilities, in-fighting and coup de tat within its ranks which had cost it its independence in 1984. Since we already know that the internal environment of an organisation is all about its culture, behaviour and reaction as to how it sees the external environment. For the scope of this report, we may not dwell so much on the positive culture of Lehman rather we shall take a critical look at how its culture might have played a role directly or indirectly in its demise using the seven dimensions of culture. Usually, attention to details is very much of required skill financial institutions must possess. But due to the competitive landscape and greed on the part of senior management, ethical details were ignored regarding the type of mortgage loans that were issued. Background checks werent performed to determine the credit worthiness of its mortgage borrowers Innovation and Risk tolerance X High innovation/High risk tolerance culture as evidenced in their highly leveraged mortgage securities offering which came through several complex financial innovative packages Outcome orientation X -Outcomes/result-oriented culture that focuses more on results rather than how they were achieved. This attitude made it lose sight on the illiquidity of the market during the impending crisis because of blind greed Short term performance reward culture throughout the firm not minding if these loans would survive in the long term or not Stability X Very strong/stable culture of lets maintain the status quo which resulted in their inability to adapt to the current financial situations. People orientation X -Poor and ineffective communication culture from top management to the bottom. Senior execs never took feedbacks from employees in the field seriously While senior management compensated themselves with cash bonuses, other employees were issued bonuses mainly in stock options and bonds. Lack of recognition for outstanding performance especially if it came from a lower employee A culture of lack of transparency among the senior executives. They never communicated the true nature of their liquidity to their employees and other stakeholders Aggressiveness X Overly aggressive culture in which they tried to bully, manipulate and outsmart the market but got their fingers burnt. Team orientation X Non collaborative competitions which dampened employee morale. The atmosphere was like that of a collegiate, people formed cliques and cartels. There was teamwork, but competition was basically on a personal level because of rewards that may accrue from individual performance The above listed cultural adoptions by Lehman went a long way in tarnishing their image before its global stakeholders which made it difficult for it to be trusted and rescued when its state of insolvency became apparent. Table 2.0 2.2.2 SWOT Analysis of Lehman Brothers SWOT DESCRIPTION Strengths -Lehman has a robust financial base with liquidity in excess of $42 billion as at Aug., 2008 which is capable of withstanding severe financial stresses (Scott S., Tanya A., 2008). It also has a strong franchise across its core investment banking, trading, and investment management businesses. Cutting-edge IT infrastructure is one of Lehmans strengths which it exploited maximally in the acquisition of customers more efficiently (see PEST analysis). Strong knowledgeable and skilled workforce Strong culture which is one of team-work, collaboration and knowledge sharing as evidenced by the rotation of workers around departments at least every two years Weaknesses -Poor managerial decisions which led to the inability or otherwise outright refusal to see the financial dangers coming. -Poor risk management and internal controls which led to its finances being exposed to risk of been wiped out within days. Strong culture which resulted in sluggish adaptability to the changing financial situations within and without the organization. Opportunities -The U.S Federal Treasury kept interest rates low for prolonged periods which made mortgage acquisition/repayments even cheaper and affordable which increased the patronage that accrued to investment banks, Lehman Brothers inclusive. Securities and Exchange Commission relaxed limits of financial leverage which gifted Lehman with the opportunity to offer more highly leveraged mortgage backed securities to its investors. But these seeming good opportunities turned out to be a curse in disguise. Threats Stiff competition coming from Morgan Stanley, Goldman Sachs, and Merrill Lynch in the hunt for new mortgage clients leading to the drastic reduction in the quality of mortgage instruments issued. More and more leverage was issued in other to remain competitive and remain profitable. The worst threat came from the Federal government backed Fannie Mae and Freddie Mac which had exclusive access to government subsidy (very low interest rate loans) making them issue the lowest rate mortgages thereby dominating the mortgage market. This then forced other players to issue even lower rates in order to stay in business. -Short selling of its stocks by brokers on the floor of the exchange which made the value fall freely thereby escalating investor anxiety resulting in loss of confidence. Negative market sentiments concerning its likely collapse due the earlier collapse of Bear Stearns, bailouts of Freddie Mac and Fannie Mae. Summary of the SWOT Analysis No doubt, Lehman is an indeed very large bank. With its robust financial war chest, experienced/diverse workforce and cutting-edge IT/IS at its disposal, it still went under. Lehman failed to utilize its strengths/opportunities to strategic advantage. Stiff competition, financial regulation laxity as well as poor management made it issue highly leveraged risky Mortgage Backed Securities, MBS which eventually wiped out its liquidity due to massive defaults in mortgage repayments which came as a result of increased interest rates to checkmate rising inflation. PART B 3.0 MANAGERIAL ETHICS These are laid down standards of conducts or moral judgements used in the discharge of business. More importantly, it refers to the rules and principles that define right and wrong conduct. It is the ultimate duty of the manager to effectively communicate and implement ethical issues within an organization. Lehman Brothers adopted the utilitarian view of ethics, in which decisions were made based on outcomes and/or consequences. They concerned themselves with making enough profits to satisfy the greedy yearnings of the top few at the top hierarchy of management not minding if their activities were detrimental to the welfare of others. This was clearly seen in the way mind boggling bonuses was dished out to the CEO, Mr. Fuld and other top management executives. According to Mr. Fulds report to the Federal Committee on Oversight and Government Reform, over $30 million was paid to him as bonuses. He also claimed that during the fruitful years, 2004-2007, an astonishing $16 billion was disbursed as bonuses out of which he alone grossed over $260 million. Below is a table showing a list of variables as they affect Lehmans ability to behave the way it did. Table 3.0 3.1 Factors affecting Lehmans ethical behaviour Factors affecting Managerial Ethics Comments State of moral development (managers) Since the ethical behaviour of managers is the single most vital factor that influences employee decisions (Robbins S., et al, 2006), we shall focus on the state of moral development of Lehmans CEO, Mr Fuld R. He operated at the preconventional level since his actions (selling highly leveraged Mortgage Backed Securities at all cost) were hugely inclined to the rewards and bonuses he and his cronies would get. Personality/Values (ego strength/locus of control) Values which represent personal convictions of what is right and wrong (Robbins S., et al, 2006) go a long way in influencing ethical behaviour. Mr Fuld has a very strong personality (ego strength) always believing that whatever he does is the right thing. Even at the collapse of Lehman, he never accepted responsibility for his actions and/or inactions. When he was alerted about what financial crisis they were in, by an insider, he waved it off. He also believes he has the ultimate power to control both his destiny as well as that of others (internal locus of control) Organizational Culture/Design -For the fact that Mr. Fuld took Lehman from rag to riches, he was seen as a demigod who was above the law. Hence, he was not subject to the organizations code of ethics and conduct. The organizational design/structure adopted a Top-Bottom management style of leadership. It enshrined a strong master-subordinate relationship which stifled information and knowledge sharing as no employee dare alert top management on their wrongly adopted strategies Lehmans culture is such that encouraged risk taking and constant innovation which later proved to be its undoing. The emphasis on individual achievement above group/team achievement encouraged employees as well as management to go extra lengths even if its unethical to perform e.g. the more mortgage clients you get, the more your bonus and recognition which was further boosted by its culture of short-term performance appraisals. Issue Intensity Greatness of harm: Lehman brothers never believed their actions (highly leveraged MBS) would have deleterious effects on its overall stakeholders after all, it believed its investors had being hedged against dangers through the Credit Default Swaps, CDS being issued by American Insurance Group, AIG -Consensus of wrong: Nobody dared oppose Mr. Fulds decisions, the very few that did were summarily sacked. So there was no basis for consensus of wrong here. -Probability of harm: Lehman believed the probability of foreclosures was minimal because of the seemingly prolonged low interests rates which created a lot of liquidity in the economy Immediacy of consequences: Mr. Fuld in his opinion believed that even if theres an eventuality of foreclosures, economic downturn and/or write downs, it would be for a short while because historically crises does occur every few years and the markets would always heal itself -Proximity to victims: Lehman pushed its mortgage customers far off using its distanced subsidiary, Aurora Loan Services as the issuer of its mortgages. This, it used to distance itself from its customers. By so doing, most people never knew the subprime mortgages were being offered by Lehman in order to maintain a clean public image and avoid responsibility for any untoward adverse effects of its unethical actions -Concentration of effect: Lehman ignored how concentrated the effect of foreclosures that would arise from its subprime mortgage sales would have on the national as well as global economy. They failed to see the broader picture of a likely global economic downturn. That necessitated their continuous unethical/risky financial actions. Conclusion Mr. Fuld of Lehman Brothers acted unethically in most of his decisions From the complex interplay of several factors that affected Lehmans unethical behaviour in the table above, we shall take a closer look at some of the ethical issues faced at Lehman Brothers below with a view to comparing opposing views on their conducts. Table 4.0 Opposing arguments concerning Lehmans managerial ethical decisions. Ethical issues Arguments for Arguments against Sale of risky/highly leveraged Mortgage Backed Securities Small percentage appreciation in value can translate to explosive profits for its balance sheet and investors alike Little decrease in value potentially wipes out the entire credit of the company rendering it insolvent. It is unethical to use investors hard earned monies to venture into greedy and risky ventures under whatsoever guise. Constant financial products reengineering and innovation This creates potential attraction for new customers as well as retaining the existing ones Causes confusion as to the understanding of the potential risks these products- offers portends. Unscrupulous bulking or bundling of mortgages This otherwise smart strategy helps to dilute the toxic effect of under-performing mortgage securities by lumping them with the good ones thereby creating a positive appearance leading to AAA ratings by rating agencies This strategy deceived many investors by underplaying the actual value and safety of their stock holdings leading them to be taking by surprise when their stocks became worthless Generating mortgage demands; packaging them, and then reselling them back to Wall Street and the investing public for large profits when in reality, there werent real buyers for them This was a way to create profits out of nothing This is an unethical attempt to manipulate the natural forces of demand and supply. Hiding behind their phony subsidiary, Aurora Loan Services to propagate falsehood contributed to the housing market bubble burst when it became evident there was no more demand for these mortgages Underwriting loans to questionable lenders e.g. FAMCO, Delta Funding Corp., etc and assisting them in cheating borrowers thereby violating consumer protection laws (Graham R., 2008, see bibliography) NA This led to widespread erosion of global investor and public confidence in the company which further contributed in its bankruptcy. Mr Fulds non-equity incentives were astronomical exceeding the 85th percentile. Furthermore, his bonuses grossly exceeded the normal industry average of bonus= base salary x Two. Mr. Fulds bonuses were five times his base salary (Nell M., 2008, see bibliography) NA This compensation practice doesnt align in favour of shareholder interests PART C 4.0 CORPORATE SOCIAL RESPONSIBILTY This is a broad term which is used to describe an organizations business activities as it affects the well-being of its stakeholders- customers, investors, employees, communities and the environment within which it operates. It is the justifiable ethical standard for which all of an organizations operational activities are measured (Davidson, P. Griffin, R, 2005). Achieving financial success in a manner that honours ethical values and respect people, communities, and the local environment is what defines CSR. An effective CSR program is one that is not mainly based on philanthropy or goodwill but rather on creating productive relationships with stakeholders who represent various social, financial and environmental concerns. Lehman Brothers adopted the hand of management approach to CSR in which it strongly believes in the advancement of its corporate economic interests as well as the protection and enhancement of the quality of life of its stakeholders. The conscience and practise of an organizations management is often a subject of frequent debate globally. Is it compulsory that an organisation must protect and improve the welfare of its specific and remote stakeholders? Well, the scope of this report is not to argue in favour of or against this motion but to analyse where Lehman got it wrong as regards to CSR. Lehman engaged in several philanthropic (socially responsive) activities all over the world where they had their businesses. Lehmans CSR spanned through the economic and legal levels terminating at the ethical level. Lehman used its philanthropy to avoid legal actions both from the government and its stakeholders while making sure its activities stayed within the ambit of the law. It engaged in philanthropy (in a socially responsive way) in my opinion because it did what it did just to create more global awareness (Public Relations for financial gains) (economic CSR) as well as to fulfil the general expectations society members place on corporations (ethical CSR). See Bibliography (URL link) for comprehensive details of their charity works. Corporate Social Responsibility goes beyond just philanthropy. CSR means accountability towards a firms various stakeholders e.g.: shareholders, employees, customers, local and international communities, etc. Unfortunately, Lehman and Bear Stearns produced no CSR report of any s