Enron Bcci Case

IBCCI’s Misgivings: Four major frauds explained in the Price Waterhouse report. 1. According to the Sandstorm Report, some $633 million of losses related to treasury trading. 2. Price Waterhouse had been doing its job, there's no way that this $1 billion exposure [in BCCI's Central Treasury] which was taken to $11 billion exposure in the course of 3 or 4 months [in 1985] could have happened. 3. All of BCCI's serious treasury problems were related to the activities at Grand Cayman, which had taken place in a blatant and repetitive form over many years.BCCI was paying its auditors $5 million per year to conduct audits which each year took nearly five months. if properly done, these audits should have uncovered the problems and forced action long before April, 1990 4. In the case of BCCI, there can be no question that the auditing process failed to work. As the Bank of England stated in determining that BCCI be closed 5. Given the demonstrable failure of the auditing process, ser ious questions have been raised about how and why BCCI's outside auditors permitted BCCI to flourish as long as it did, despite fraud and other bad practices which went back many years. 6.The record offers both support for assessing blame on BCCI's auditors, and the suggestion that their work in the spring of 1991 was an essential component of the investigative process that ultimately forced BCCI's closure. 7. One view of the culpability of BCCI's accountants was expressed by BCCI's own chief financial officer, Masihur Rahman. Rahman testified that as BCCI's top financial official, he did not know of BCCI's frauds prior to the spring of 1990. He testified that has the bank's chief financial officer in London, he did not have access to any of the underlying loan information and related files at BCCI's various field offices.Rahman testified that he therefore relied on the work of the outside auditors, operating around the world at the local level, to review BCCI's records at its vario us offices and branches, and thereby ensure their truth and accuracy. 8. At the other extreme was the position taken by BCCI's principal auditor, Price Waterhouse (UK), that it was completely deceived by BCCI until the spring of 1990, and handled its responsibilities concerning BCCI without any fault whatsoever. 9.If Price Waterhouse had been doing its job, there's no way that this $1 billion exposure [in BCCI's Central Treasury] which was taken to $11 billion exposure in the course of 3 or 4 months [in 1985] could have happened, says CFO. 10. According to Rahman, Price Waterhouse (UK) had signed off on BCCI practices year after year without issuing any red flags, until suddenly, in April, 1990, it found massive deficiencies at the bank, in which, as Senator Kerry put it, â€Å"every red flag in the world was flying,† raising the question of how Price Waterhouse could have missed all of BCCI's bad practices previously. 1. Price Waterhouse should have known from their audit of Grand Cayman over many years that deposits of BCCI were being misused. The ‘fictitious' loan accounts were in most cases so obviously fictitious that the year after year audit of PW should have detected most, if not all. PW not only knew about accounts where some $600 million of the fraud had at BCCI had taken place. 12. BCCI was paying its auditors $5 million per year to conduct audits which each year took nearly five months.According to Rahman, if properly done, these audits should have uncovered the problems and forced action long before April, 1990. 13. In contrast, as Price Waterhouse expressed their position, BCCI had deceived them through colluding with shareholders and borrowers to create false documentation that mislead them. 14. The auditor's responsibility is to design and execute an audit so as to have reasonable expectation of detecting material misstatement in the financial statements whether due to fraud, irregularity, or error.However, common sense dictates, a nd it is accepted internationally, that even the best planned and executed audit will not necessarily discover a sophisticated fraud, especially one where there is collusion at the highest level of management and with third parties. Under such circumstances, it is reasonable to expect that it may take a number of annual audits before accumulating concerns change to suspicions and ultimately lead to the identification of fraud; in fact, this is what happened in audit of BCCI. 15.Price Waterhouse found that BCCI Treasury losses had been concealed and its profits manufactured through BCCI's failure to record deposits and other liabilities; the creation of fictitious loan accounts; the purchase and repurchase of BCCI's own shares through nominees with buy-back arrangements; and the collusion between BCCI and major customers in supplying false confirmations to the external auditors, among other techniques. 16. $346 million related to the illegal acquisition through nominees of several US banks were identified. 17.BCCI's initial strategy for the United States was to infiltrate the U. S. banking system through purchasing beachhead banks in major banking centers, and then to expand the beachhead operations until BCCI had U. S. banking operations of sufficient size that they could ultimately merge with BCCI itself. 18. State regulators in New York had proven resistant to BCCI, and BCCI had successfully acquired National Bank of Georgia and FGB/First American 19. BCCI expanded in the United States by opening BCCI branch offices in regions with significant populations from the Third World engaged in rans-national commercial activity, such as Miami, Houston, Los Angeles, San Francisco, New York, and Chicago. 20. BCCI's intention was to use these branch offices to feed depositors and banking activity to NBG and First American, expanding BCCI's activities through pushing deposits into the federal deposit insurance system. Abedi had decided that he would work systematically to integrate the various U. S. banks BCCI now secretly owned, until the survivor was strong enough and large enough to in turn purchase BCCI 21.BCCI’s accounts and balance sheets had been manipulated to cover-up a loan of $725 million to a Pakistan based shipping company. 22. The relationship with the Gulf Group began in 1972 when it placed very large deposits with BCCI in Luxembourg and London. There was little tangible evidence of other businesses until 1976 at which time the trade finance lines and shipping loans were opened by the Group. An amount of $1. 2bn was financed to the Abu Dhabi Company (Gulf Groups) owned by Abbas Gokal . Abbas along with his other brothers used amount of money as a lever obtain short-term funding and repayment of non-BCCI bank debt. 3. This exposure of huge sums gained the attentions of Bank of England in 1977 resulting in BCCI transferring accounts to Grand Cayman in 1978 when it became apparent that the Gulf Group faced financial difficulties . This was the time when account manipulation started which is why a ‘special duties’ was assigned the duties to oversee these accounts. This ‘special duties’ department was involved in fabricating information in respect of the ‘offshore accounts’. This included the creation of profiles of the beneficial owners, financial information, false instruction letters etc. 4. Management in collusion with Gulf used sophisticated methods of deception to conceal funds flows including: * Use of gulf ‘bank’ account which received funds and then redistributed them around a number of accounts * Transfer between Gulf locations in different parts of the world to create turnover and imply debt servicing, particularly just before year ends. * Conduit accounts at external banks, under the control of BCCI officers. * Funds transfer through BCP and nostro accounts at various BCCI branches. * Use of excessive interest and charges to provide profits 5. BC CI had used $500 million of its own resource to acquire 56% of its own shares through a series of complex transactions. The final losses may well be in excess of $4 billion and Abu Dhabi’s exposure to BCCI and related activities is estimated to be some $9. 4 billion A few other misdeeds have surfaced regarding; 26. Money Laundering From the time of BCCI's indictment on drug money laundering charges in Tampa, Florida in October, 1988, there was little doubt to anyone looking at the facts that BCCI had been used to launder drug money 27.Bribery The recipients of funding from BCCI may not have considered the payments to be â€Å"bribes,† but simply a mechanism by which BCCI obtained what it wanted from an official, and in return the official helped BCCI, such as BCCI's payments to two of the Gulf emirs in return for the use of their names as nominees for the purchase of First American 28. Support of Terrorism and Arms Trafficking BCCI's support of terrorism and arms traff icking developed out of several factors.First, as a principal financial institution for a number of Gulf sheikhdoms, with branches allover the world, it was a logical choice for terrorist organizations, who received payment at BCCI-London and other branches directly from Gulf-state patrons, and then transferred those funds wherever they wished without apparent scrutiny. Secondly, BCCI's flexibility regarding the falsification of documentation was helpful for such activities ENRON 29. Houston Natural Gas Corporation and Internorth Inc. merged in 1985 to form Enron Corporation.Since its conception, Enron has distinguished itself as an innovative, prominent leader in the natural gas market. Enron, headquartered in Houston, was the largest trader of natural gas and electricity in North America. Enron also market and traded other commodities, including water, paper, coal, chemicals, and fiber-optic bandwidth. The success of Enron’s aggressive strategies is demonstrated by the rise in its stock price from a split-adjusted $3. 20 per share in 1985 to $80. 63 per share on November 20, 2000. In this same period, revenues increased from $10. 3 billion to $40. 1 billion and net income improved from a loss of $54. million to $919. 0 million. 30. As a result of its ability to discover new business opportunities, transform traditional industries, and enter new ones, Fortune magazine named Enron â€Å"Most Innovative Company† for an unprecedented sixth consecutive year in 2001. 31. Enron’s focus on innovation has been demonstrated throughout its history. As a newly formed company in the mid-1980’s, Enron pioneered the trading of natural gas when natural gas markets were deregulated. When Enron entered the electricity market in 1993, it revolutionized the industry by facilitating a market to trade electricity.Enron was also among the first energy companies to expand beyond traditional energy markets by entering the telecommunications industry. Enro n even entered the e-commerce sector by partnering with leading high-tech companies to form Enron Online, a business-to-business website that facilitates the trading of commodities. 32. Enron’s events timeline: * 1985 — Houston Natural Gas merges with InterNorth to form Enron, HNG CEOKenneth Lay  becomes CEO of combined company the following year * 1989 — Enron begins trading natural gas commodities 1990 — Lay hires  Jeffrey Skilling  to lead the company's effort to focus on commodities trading in the deregulated markets. Andrew Fastow  is one of Skilling's first hires later that year. * June 1990 Jeff Skilling, who has been a consultant for McKinsey & Co. , joins Enron * June 11, 1991 Enron asks the Security Exchange Commission (SEC) to approve mark-to-market accounting. * Jan. 30, 1992 SEC approves mark-to-market accounting for Enron * November 1996 Richard Kinder, COO of Enron, doesn’t get CEO job, so he leaves. * December 10, 1996 Enron announces that Jeff Skilling is taking over as COO. June 28, 1999 Enron’s Board of Directors exempts CFO Andy Fastow from the company’s code of ethics so that he can run a private equity fund—LJM1—that will raise money for and do deals with Enron. The LJM Funds become one of the key tools for Enron to manage its balance sheet and make investors think that it is performing better than it is. * October 12, 1999 Enron board exempts Fastow from Enron’s code of ethics so that he can raise money for LJM2 * August 23, 2000 Stock hits all-time high of 90 dollars. Market valuation of 70 billion dollars.FERC (the Federal Energy Regulatory Commission) orders an investigation into strategies designed to drive electricity prices up in California * December 13, 2000 Enron announces that President and COO Jeffrey Skilling will take over as chief executive in February. Kenneth Lay will remain as chairman. * Late 2000 Enron uses â€Å"aggressive† accounting to declare 53 million dollars in earnings for broadband on a collapsing deal that hadn’t earned a penny in profit. * August 14, 2001 Skilling’s resignation announcement. In evening, analyst and investor conference call.Skilling: â€Å"The company is in great shape†¦Ã¢â‚¬  Lay: â€Å"Company is in the strongest shape that it’s ever been in. † Lay is named CEO 33. What went wrong- Corporate governance : The purpose of Corporate governance is to act as a ‘gatekeeper’. ENRON lacked proper surveillance on the part of its Board of Directors, Auditors and Investors. 34. Inappropriate Tools: * Mark to market: As a public company, Enron was subject to external sources of governance including market pressures, oversight by government regulators, and oversight by private entities including auditors, equity analysts, and credit rating agencies.This method requires that once a long-term contract was signed, the amount of which the asset theoretica lly will sell on the future market is reported on the current financial statement. In order to keep appeasing the investors to create a consistent profiting situation in the company, Enron traders were pressured to forecast high future cash flows and low discount rate on the long-term contract with Enron. The difference between the calculated net present value and the originally paid value was regarded as the profit of Enron. In fact, the net present value reported by Enron might not happen during the future years of the long-term contract.An overly optimistic projection was set forth. * SPE—Special Purpose Entity: Accounting rule allow a company to exclude a SPE from its own financial statements if an independent party has control of the SPE, and if this independent party owns at least 3 percent of the SPE. Enron needed to find a way to hide the debt since high debt levels would lower the investment grade and trigger banks to recall money. Using the Enron’s stock as c ollateral, the SPE, which was headed by the CFO, Fastow, borrowed large sums of money. And this money was used to balance Enron’s overvalued contracts.Thus, the SPE enabled Enron to convert loans and assets burdened with debt obligations into income. In addition, the taking over by the SPE made Enron transfer more stock to SPE. However, the debt and assets purchased by the SPE, which was actually burdened with large amount of debts, were not reported on Enron’s financial report. The shareholders were then misled that debt was not increasing and the revenue was even increasing. 35. Fiduciary failure: The BOD was unable to live up to their fiduciary responsibilities. By having no proper check on the conflict of interest. 36. Conflict of Interest: Enron hired and paid its own auditors.That was a conflict of interest built into the legal system because the auditor had an incentive not to issue an unfavorable report on the company that is paying him or her. The Board allowe d conflicts of interests with the partnerships it held, and did not keep a proper oversight of the partnerships. There was also a basic lack of communication on the part of the Board to review the related party transactions. SPE’s served as a major conflict of interest. E. g. the committee failed to recognize clear elements that indicated the downfall, such as Anderson communicating that Enron was ‘pushing the limits’ since 1999.Also, 3000 Special entities, out of which 800 were organized in tax havens. 37. High Risk Accounting: Enron’s Audits committee failed not only to guarantee the independence of the External Auditorsbut also to maintain proper accounting practices in accordance with the interest of the shareholders. It furthermore, approved transactions that were entirely designed to cover up the debts and over-stated revenues, instead of focusing on the economic outputs. Corporate Culture: Utter lack of Interest, specifically by the Board of Directo rs, on off-the-book financials. They had a general culture of being defensive.They would rather cover up their own failures, than acknowledge it. Jeffery Skilling is reported to have said, â€Å"I've never not been successful at business or work†¦ ever! †Furthermore, the corporate culture did not allow open dissent. The Board was also inadequately informed; hence their decision making was clouded, and obsolete. 38. Extensive Compensation to the Executives: The Company paid millions of dollars in deferred salaries and bonuses to midlevel and high-level executives still working in late November, just before the Dec. 2 bankruptcy filing, which forced the company to suspend all such payments.But a number of employees who had retired or recently left the company were denied similar payments. 39. Lack of Independence: Financial ties between the Board of Director and Enron and also financial ties between the external auditors and Enron. The Board was also relying too much on th eir auditors. They were not entirely independent, which led to variation in their process of information disclosure. They clearly shred information. 40. Transparency: The management was not transparent and truthful about the position of the company. They had a general culture of being ‘the best’ at everything, hence, they denied exposing their failures.Enron did not live up to their duty of full disclosure and good faith. The Board did not communicate effectively with its auditors from Arthur Andersen. The idea that Enron’s employed accounting techniques were â€Å"aggressive†, wasn’t conversed clearly enough. E. g. When the CEO disclosed to the employees that the stock price was to rise, there is whatsoever no evidence of him disclosing that he was selling stock as well. Only the investigation surrounding Enron’s bankruptcy enabled shareholders to learn of the CEO stock sell-off before February 14, 2002 which is when the sell-off would other wise have been disclosed.

Second Periodic Test

PERIODIC EXAM ENGLISH Name: _________________________________Year & Section: _________________________ I. SPEAKING: DIRECTIONS: Tell whether the statements below use a RISING INTONATION or a RISING- FALLING INTONATION. Write R for rising and RF for rising-falling intonation. _____1. Have you study your lessons? _____2. I have seen the movie twice. _____3. When is the deadline for the submission of our project? _____4. Are you sure? _____5. She might be late. II. READING & LITERATURE A. DIRECTIONS: Use the articles A, AN and THE in the nouns below: 6.The leader of ___________ group is good. 7. _______ apple a day keeps the doctor away. 8. My father is ________ honorable man. 9. We went to _________ DILG office. 10. ______ new song is being played. B. DIRECTIONS: Select the reference material needed below. Write your answer on the space provided. _________________________11. The population of the Philippines in 1990. _________________________12. The meaning of the word â€Å"outrageou s†. _________________________13. The different kinds of insects. _________________________14. The color of the Japanese flag. ________________________15. The stress mark of the word â€Å"sedimentary. † ( YEARBOOK OR ALMANAC, ENCYCLOPEDIA, ATLAS, DICTIONARY ) C. DIRECTIONG: Supply the missing word in the analogy below: 16. School is to study as church is to ______________________. 17. Bark is to dog as buzz is to _______________________. 18. White is to good as black is to ___________________. 19. Sun is to day as moon is to ____________________. 20. Allah is to Muslim as Christ is to ___________________. D. DIRECTIONS: Encircle the letter of the correct answer. 21.Who is the wife of Leon? a. Mariab. Emeliac. Lumnay 22. What did Mr. Angeles brought to his family? a. caretelab. beansc. mats 23. The following are dead children of Mr. Angeles EXCEPT†¦ a. Josefinab. Marcelinac. Victoria 24. He was the brother of Leon. a. Juanb. Antonioc. Baldo 25. She was the new wife of Awiyao. a. Madulimayb. Madulumnayc. Lumnay E. DIRECTIONS: TRUE OR FALSE. WriteT if the statement is true and F if it is wrong. ___26. Maria was afraid of Labang. ___27. The beads given to Lumnay by Awiyao will be given to Madulimay in the wedding. __28. All the children of Mr. Angeles have received a mat. ___29. Marcelina’s mat has a symbol of Aesculapius for she is a medical student. ___30. The passing at night at the Waig was one of the tests given by Leon’s father to Maria. ___31. Maria was a typical city woman. ___32. Maria was not accepted by the family of Leon. ___33. The mats brought by Mr. Angeles were special and unique. ___34. The reason of the separation of Awiyao and Lumnay was Madulimay. ___35. Lumnay joins in the wedding dance and finds also a husband. III. GRAMMAR A.DIRECTIONS: Identify the pattern of the sentences below. Write S-TV-DO or S-TV-IO-DO in the space provided. _________________36. Mr. Angeles gave Nanay Emilia a mat. _________________37. A wiyao left Lumnay. _________________38. Leon showed Maria the place. _________________39. Mr. Angeles brought presents. _________________40. Awiyao comforted Lumnay. _________________41. Mr. Angeles remembered his dead children. _________________42. Leon’s family accepted Maria. _________________43. Awiyao gave her the beads. _________________44. Lumnay offered Kabunian a pig. ________________45. Awiyao asked Lumnay a question. B. DIRECTIONS: Look for the prepositions in the poem below. Encircle a preposition only once. A thousand times in my dreams I have walked with you Hand in hand, down the glittery way Without a worry, not a care in the world, No sorrow, no torture, no dismay, There we were: two figures in the incessant night, Swallowed by the searing darkness Embraced by the fleeting sadness, And then we would look to the sky and see, The shining harvest of the distant stars, Our sky, our sky, my starlight, our sky sown with stars.

The Influence of Ganster Films such as New Jack City and Menace to Society

Warshow began the essay saying â€Å"America is committed to a cheerful view of life†. Warshow is referring particularly to the movies but also to comic books and pulp fiction . Those that perpetuate the notion of what constitutes the gangster himself but also his environment, motivation and modus operandi. The intolerable dilemma is that failure is a kind of death and success is evil and dangerous, are ultimately impossible. The effect of the gangster film is to embody this dilemma in the person of the gangster and resolve it by â€Å"his death, not ours, we are safe for the moment and can acquiesce in our failure, we can choose to fail. This essay makes me think that most gangster movies can help and also hurt the viewer. It all depends on the state of mind of the individual. Watching movie such as â€Å"New Jack City† and â€Å"Menace to Society† made people in my community act out, not in a fearful way but in a more gangster way. More crimes took place after young viewers watched these types of films; maybe in the suburbs people felt safe but not in our neighborhood. Movies such as these were made to show people the rise and fall of a gangster. However it depends on the individual that watches these types of films and what they gather from it. Take for instance, if a person has never been to the projects and had seen this type of activity take place; they may watch one of these films and not get Influenced by it . On the other hand, people who live in the projects that see drug dealers and so called gangsters, begin to glorify this kind of lifestyle because this is what they see on a day to day basis. Warshows’ intolerable dilemmas sometimes resolve in our death. Some people can see a film and know in the end that the gangster will end up dead or on a bus to prison but for some reason that never scares them from trying to get the same fame that the gangster has in the film. Take for example, the film â€Å"New Jack City â€Å"staring Wesley Snipes as the notorious Neno Brown; it shows two sides of a gangster. Neno kills people over drugs and territory but the film also shows him feeding the poor on Thanksgiving and handing money out to children and preachers. Neno starts out as an average street hustler with dreams of one day being a drug kingpin. His dream seems to be reachable when his brother introduces him to the new drug crack cocaine. Neno then builds a street team to help run his empire. He operates his crack business the same as any other business like Wal-Mart. In a way Neno was like a ghetto Robinhood. He robs the rich and sells dope to the poor. This is what makes this essay one sided. People living in the ghetto are simply products of their environment. They are simply forced into this life that is fictional to others. A gangster’s motivation is always something he feels like he has first and before anyone else. It may be a new car, jewelry or a luxury home. Most movies about a fictional gangster are always stemmed from a real person that has already failed as a gangster, either dead or in prison. Most of the gangster movies we watch today are real life stories. Filmmakers just put a twist on the story and change the names around. People from the lower class watch these movies and often blur out the bad ending rather than being in fear of the same ending happening to them. Most gangster movies have a hero from both sides. The lower class people root for the villain while the middle and upper class root for the main detective that usually brings the gangster to his untimely demise. Most kids are fascinated with gangsters because of their lavish and glorious lifestyle that are portrayed by he media. Lower class children do not live next door to doctors or lawyers so they do not glorify their lifestyles . They can just turn on the television and see a gangster anytime they want and to some, glorifying a gangster is real and gives them something to believe in. When they see a gangster in the neighborhood, everyone is nice to him out of fear not respect but as a child, he will grow up thinking that type of lifestyle is o. k. because everyone will be too scared to tell him that this individual is scum and that he does not want to be like him when he grows up.

Employee Satisfaction and Motivation in London Retail Dissertation

Employee Satisfaction and Motivation in London Retail - Dissertation Example Table of Contents Executive Summary †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 2 Table of Contents †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 3 1. Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 5 1.1 Purpose of the Study †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 1.2 Research Objectives †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6 1.3 Rationale for Choosing the Research Topic †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6 1.4 Scope and Limitations †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 7 2. Literature Review †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦... 8 2.1 Motivational Theories †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 9 2.1.1 Content Theories †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 9 2.1.1.1 Maslow’s Hierarchy of Needs †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦... 9 2.1.1.2 Alderfer’s ERG Theory †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 12 2.1.1.3 Herzberg’s Motivator-Hygiene Theory †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. ... .†¦Ã¢â‚¬ ¦.. 15 2.1.3 Summary of Theory in Practice †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 15 2.2 Importance of Keeping Each Employee Motivated and Satisfied with their Work †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦. 17 2.3 Factors that May Increase or Decrease Each Employee’s Work Satisfaction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 21 2.4 Factors that May Increase or Decrease Customer Satisfaction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 21 2.5 Strategic Ways on How Employees can be Motivated in Increasing the Quality Service They Give to the Company’s Customers †¦ 22 2.6 Theoretical Framework †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 25 3. Research Methodology †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 26 3.1 Research Method Design †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 26 3.2 Research Questionnaire Design †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 28 3.3 Research Ethics †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 29 4. Research Findings and Analysis †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 29 4.1 Part I – Demographic Profile ......................... ............................................... 29 4.2 Part II – Employees’ Work Attitude and Behaviour .................................... 31 4.3 Part III – Relationship between Dependent and Independent Variables ..... 32 5. Conclusion and Recommendations †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.....................†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 36 References †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 38 - 45 Appendix I – Research Survey Questionnaire

The current state of the economy of the United States Essay

The current state of the economy of the United States - Essay Example It is calculated by adding up annual expenditure on goods and services in 4 sectors. The first sector is ‘Personal Consumption Spending,’ involving expenditure on durable goods (like cars and televisions), non-durable goods (like food and clothes), and personal services (like manicures and haircuts). The second sector is ‘Private Investment Spending,’ including expenditure like purchases of real estate, plant and machinery by corporations. The third sector is ‘Government Spending,’ featuring expenditure on goods like armaments and services like wages of public school teachers. The fourth sector is ‘Net Exports,’ which is the value of goods and services exported abroad, minus the value of goods and services imported from other countries (The World Book Encyclopedia). GDP is the most widely used measure to analyze the prosperity of the nation. The U.S is considered the world’s most prosperous economy as it possesses the highest GDP in the world. In 2000 its GDP purchasing power parity which was $ 9.82 trillion, rose to $ 10.13 trillion in 2001, $ 10.47 trillion in 2002, $ 10.96 trillion in 2003, $ 11.71 trillion in 2004, $ 12.46 trillion in 2005 and $ 12.98 trillion in 2006. U.S GDP figures have shown a healthy, continuously rising trend, rising by 3.16 % between 2001 and 2001, 3.36% between 2001 and 2002, 4.68% between 2002 and 2003, 6.84% between 2003 and 2004, 6.40% between 2004 and 2005 and 4.17% between 2005 and 2006 (Cia.gov). As compared to the U.S, other world countries lagged far behind. In 2004, as against the U.S GDP purchasing power parity of 11.71 trillion, China ranked a distant second at 7.272 trillion, followed by an even most distant group of countries led by Japan at 3.745 trillion, India at 3.319 trillion, Germany at 2.3 62 trillion, the U.K at 1.782 trillion, France at 1.737 trillion and Italy at 1.609 trillion

Relationship of poetry and music in Verklarte Nacht(1899) by Arnold Essay

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PERSONALITY TRAIT THAT BEST FITS MY LIFE Term Paper - 1

PERSONALITY TRAIT THAT BEST FITS MY LIFE - Term Paper Example This branch of psychology is termed the most ambitious since personalities are all unique. Although unique, there are patterns that have been unlocked by some of the world’s best psychologists. There are even a lot of personality tests that have been invented to promote personality determination. One of the most famous ways of determining personalities is by determining one’s personality traits. Traits, according to this theory, are continuous dimensions of a person, unlike typologies, which are static. Apart from that, the trait theories of personality assume that people have traits that can vary through time, and they are also dependent on a number of personality scales. And unlike other approaches like the humanistic and psychoanalytic ones, trait approach uses differences in personality as basis in determining the specific typologies of a person. The Five-Factor Model theory is one of the most popular forms of determining personality using the personality traits. This theory is based on Eysenck’s Three Dimensions on Personality and Catell’s Sixteen Personality Factor Questionnaire. The former was dismissed as being too short, with only three factors of personality listed in the personality scale. The latter was dismissed because it was too detailed, starting with over 4000 personality traits. It was narrowed down to 16 traits after factorial analysis of the traits as this proved to be the most common and defining traits of an individual. Since the two personality tests either too few or too descriptive, the Five-Factor Model was made. A combination of both Eysenck’s and Cattell’s questionnaires, the Five-Factor Model is considered to be one of the most reliable tests in defining personality. It represents the five core traits that form one’s individuality. The five core traits are: Extraversion, agreeableness, conscientiousness, neuroticism and openness.

(ADVANCED PLACEMENT) -AP Art History Essay Example | Topics and Well Written Essays - 250 words

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Corporate Standards in India Essay Example | Topics and Well Written Essays - 1250 words

Corporate Standards in India - Essay Example Alternatively, it has an aesthetic sense of restoring the damaged integrity of the nation of India. On that note, the paper has expounded on several practical mechanisms such as the search for universal standards, instill corporate standards and implementing convergence of standards in the Indian companies among others. For the last five years, several corporate scandals have rocked India hence leading to the damage of its integrity. From Barclays issuing false numbers in the financial market of London to bribes-for-loans scandal, India has been wading in corporate graft (Bilal 2008, p.56). On that note, there are several ways to improve the corporate standards to save the image of India. This is to avoid financial losses and loss of jobs and resources. Therefore, the first method of upholding the corporate standard is to search for universal standards. It is imperative to observe that the mechanisms of corporate governance fluctuate from country to country. On that aspect, it is fun damental to note that political, economical and social perspectives define corporate governance (Buthwar 2011, p.78). This means the corporate practice of Indian companies should echo its set national ethos and value systems. For instance, in the Barclays scandal, its leadership should step down and investigated to reveal the motive of their virtues. Additionally, the form of corporate governance should be inculcated among managers and customers in order to understand the limits of conducting business transactions. This has a positive implication of reducing cases of corporate graft as observed in the recent years in India. Another crucial matter involves assimilation corporate philosophy among various organizations to avoid scandals such Forex derivates scam and Andhra Pradesh land that saw the companies lose $5.79 billion and $18.1 billion respectively. Alternatively, it is critical for major shareholders in such organizations to call for higher stakes in the contribution of the c ompany. This suggests that despite the management of the company having a special status, shareholders should work in cooperation with the managers to avert cases of corporate scandals. Furthermore, it should be upon the corporate heads to increase globalization of encouraging competitive business that does not condone corruption. This is why the Organization for Economic Co-operation and Development (OECD) was established to work as a benchmark for monitoring Indian corporations. Another better method to instill corporate standards is to implement convergence of standards in the Indian companies. This entails shaping their corporate according the global market orientation such as in the US and UK in order to limit cases of fraud. For example, the telecoms scandal that made India lose up to $ 462 billion could have been avoided if better convergence standards were in place. In other words, the companies that acquired illegal licenses without proper qualification could not have resul ted to such financial damage. Alternatively, the concerned corporations could have properly mitigated other scandals such as the Barclays and Mumbai Sales Tax fraud. Again, this method of standardization has the benefit of integrating financial markets and foreign investor requirements. This is known to encourage higher standards and practices of

Impact of training and development on employees performance in tesco Literature review

Impact of training and development on employees performance in tesco - Literature review Example The significance behind continued training of employees has become overarching drift of needs of the society and consequently calling for a continuation of training programs in the organizations. This is a vital concern for the sake, of sustainability of the organization in the global competitive market. As documented by Nixon (2004), human resource planning (HRP), is a core function in Human Resource Management (HRM) that determine the difference between success and failure in any organization. Consequently, the effectiveness of human resource planning is determined by the competency of placing the right people in positions that they fit most and in proper time. Failure of experts in human resource management to meet this objective creates a significant gap, called a training gap within the organization. In addition, this gap is a manifestation of the disparity between actual performances of employees to their anticipated performance and this gap can only be eliminated through incorporating programs of training and development in the firm (Nixon, 2004). It is therefore, prudent for any organization to appreciate the fact that training and development has a significant impact on employees such as managers, sales staff and customer service individuals. Consequently, the importance of undertaking programs of training to facilitate maximum returns from employees in investments. It is to the understanding of the management of organizations which are aspiring to gain a competitive edge, that the success of the business depends on the performance of the employees which is achieved through training and development (Conger & Rabindra, 2008). According to McDermott (2004), the duty of a company is to initiate a high model of commitment which avails the programs of training and development to employees of all hierarchy in the organization. The culture of an organization should

Injustice Essay Example | Topics and Well Written Essays - 250 words

Injustice - Essay Example Thrasymachus points out that justice is the advantage of the stronger. He claims that rulers and makers of law do not commit errors in their decrees and that they make laws that are best for themselves. Thrasymachus argues that subjects have no chance but to do as the decrees of their ruler without question. This argument makes injustice act solely for the interest of the rulers. According to Thrasymachus, injustice is stronger if it is on a larger scale, and it is more masterly than justice is. Injustice always gets more(Plato. 343b-344c). Glaucon view on justice is that it is a necessary evil that people allow themselves to suffer to avoid a much greater evil of impunity (Plato. 438b-e). Injustice is thus a much better preference than justice is as justice is just a burden that we engage in out of fear. People participate in justice, as they are afraid of the punishment of injustice. Injustice rewards all that practice it, with honor and wealth, as it allows one to indulge in all his urges (Plato. 357a-367e). Adeimantus claims that justice does not act solely but for something more: for the rewards, that one reaps in the current life and aftermath. One seeks injustice for one’s sake while justice is only for something more, the rewards it brings along (Plato. 357a-367e). Conclusion In light of the arguments proposed above, it is apparent that the three favor injustice rather than justice. Injustice is a practice of free will that satisfies the body, unlike justice that is a bondage of something more.

Free

Free African Americans Essay The Antebellum period had a huge impact on the free African American people. The Antebellum period is the time that is pre-Civil War and post-War of 1812. The United States was expanding to a more powerful nation and slavery was the biggest industry in their economy. During this period of time, African Americans had to deal with many obstacles/adversities as free blacks in all regions of the United States. The regions known as, in the northern, upper south, deep south, and far west regions of the United States was where the free African American encountered different and similar situations and experiences. Throughout history the north always was known as the first region that freed slaves. The northern states didnt us the same economic methods as the southern states and the far west. They adopted a new way of making money. According to The African American Odyssey, Between 1860, a market revolution transformed the north into a modern industrial society. This new method changed economy for the north until present day. This was a new age of industry and the production of factories. Slavery was not needed as much as the southern states where they had good sun to cultivate and profit from crops such as cotton. Even though this new method lightened the idea of slavery in the north, the freedom for blacks was still limited. Whites did not want to deal with blacks so they enforced new black laws in which resulted in the segregation of school, communities and any other public uses. Free black men had limited voting rights where they barely had any rights to vote. Most of all these black laws impacted the employment level to a low gradient for the free blacks in the north. This battle for employment had many negative impacts on free Black’s ways of life. Families were tarnished under the pressure of providing for their families with the scarcity of jobs. They enforced fugitive slave law where the white slave masters can hunt and recapture runaway slaves from the south. This made life difficult and filled the free blacks with fear because they were more prone to be wrongfully enslaved. Like the south the whites did not want to deal with blacks whatsoever. Irish immigrants were taking all the jobs away from the blacks many blacks had unskilled jobs such as being barbers and shoemakers. The free African American upper south region did have similar experiences as the north but much more were different. Though they shared similar churches family businesses and fraternities the upper south was still separated by the idea of slavery and the different economic methods. The impact of slavery created different communities. The free blacks in the north lived with other free Blacks while in the upper south; the free Blacks lived with slaves. The fugitive slave laws had a bigger impact on the upper south than the north. The free black was definitely more prone to be enslaves. Many sheriffs would harass and arrest free blacks randomly on profiling them as runaway slaves. They did have a tool known as free papers that was proof for their freedom. But these papers were useless most of the time because they constantly had to be renewed. These free papers impacted the everyday life of African Americans because they had to make sure that their papers werent stolen, lost, or tarnished. The free Blacks had fewer freedoms. They could not vote at all and they had problems going outside at night. They could not congregate in groups and had no rights to bear arms. Life as a free Black person was tougher than the north because of the low employment rates downgraded again due to the Irish immigrants taking their jobs. Their jobs were different during the antebellum period. Many people were maids and servants and washers. Upper south institutions where tarnished and almost did not exist. Black churches were overran by white ministries and left the black ministers with no opportunities to practice on their careers. Schools were almost absent. They were low funded whereas many blacks in the upper south were left uneducated. There were no schools and no jobs which gave success to the whites on preventing the advancement of the free blacks. Unlike the north and the upper south, the Deep South barely had any free blacks despite the fact that the population of African Americans in the Deep South was enormous. There were many incidents of racial mixing with slave owners and the female slaves. Diversity was there but slavery still kept their children enslaved. They usually had a choice to buy their way out of slavery. Many of the free slaves did not have their own separate identity from the white slave owners. Many of the free blacks were just like the whites. They were accepted in the churches. Many wealthy free blacks were educated due to the establishment of private schools. Unlike the north and the Upper South, they had better skilled jobs such as carpentry and tailors. Many whites began to overlook the success of the free African American In the Deep South and made it even more impossible to live. Unlike the North, Upper South, and the Deep South, the Far West absolutely did not want anything to do with free Blacks. The black laws in the Far West were made to ban all free Blacks from settling in their region. The Gold Rush of 1849 resulted in the migration of many White and free Black men to settle out west in states like California and Oregon. The Far west was known to be more multicultural and have multicultural communities. Many blacks had the same jobs of that the free Blacks from the regions had except for the gold mining. Many Blacks prospered from gold. Slavery was a huge propaganda in the upper south and the whole south in general. It was a reality that all African American whether free or enslaved could not avoid. The northern states were gradually enhancing their advancement in the idea of acceptance and coexistence with the Whites in the US. The north had at least a bit of a head start for the search of equality in the U. S. The conditions of living might have been similar and different in many ways but this time all came to an end once the fugitive slave laws were enhanced. Many free African Blacks were enslaved and wrongfully accused to be slaves. The new laws were undisputed and changed the Blacks’ idea of freedom and fight for equality Work Cited Hine D, The African American Odyssey (2011). Combined Volume, 5th Edition. New Jersey: Prentice Hall.

Film Review of The Others (2011)

Film Review of The Others (2011) THE OTHERS FILM REVIEW:  Make Sure You all Double Check Youre Alive. By DYLAN B. TO Published March 6, 2017 Nicole Kidman as Grace in 2001s The Others Over sixteen years ago, on Thursday August 2, 2011, Alejandro Amenà ¡bars The Others, was released to the public. Why exactly are we looking back on this sixteen-year-old ghost story that was awarded a very respectable 82% on Rotten Tomatoes? Because it still manages to be relevant. It tackles modern issues of domestic abuse, violence as well as challenges the formula[DT1] of an evil scary monster or ghost that haunts an individual that produces the movies we know today. In a day an age when the slated line up of horror films for the year consists of a multitude of sequels such as The Conjuring 3, Insidious 4, and Saw VIII, a movie like The Others is a refreshing watch. The Others, an almost two-decade old film is a tantalizing ghost story that takes place in 1945 on an isolated rustic house on the island of Jersey, located in the English Channel[DT2]. However, it is curious, the mother and children, as well as the three servants, don age old Victorian attire, as well as other [DT3]elements reminiscent of its inspiration, the classic Victorian novella, The Turn of The Screw, by Henry James, such as the setting itself, as well as the plot line of deceased servants of the home coming back and haunting the new residents. The Spanish director who wrote and directed the film, Alejandro Amenabar, (his first film in English) accentuates the horror of the film through a complex and intelligent setup. Three servants (Fionnula Flanagan as Mrs. Betha Mills, Eric Sykes as Mr. Edmund Tuttle, and Elain Cassidy as Lydia) arrive at the doorstep of the manor, where Grace Stewart (Nicole Kidman), the matriarch of the house, tells them about the lack of electricity, phone or radio in the home. Additionally, the windows of the home must be covered with heavy curtains, as well as no door must be opened unless the one before is closed.[DT4] Due to her young children, Anne (Alakina Mann) and Nicholas (James Bentley), both being ultra-photosensitive to a point where light is fatal to them. Thus, 50 doors, the 15 keys, poorly lit corridors, cavernous lit only by a lamp or fire places, molds a skeleton for the director to manipulate.[DT5] Amenabar manages to pilot with this peculiar setting with incredible precision and efficiency, producing frightening context that is unveiled over the two-hour run time. The large Victorian house seems to be haunted mysterious laughter and weeping could be heard through the walls, Anne swears she sees an unknown young boy and old woman, locked doors are left open, and a piano playing by itself. Director Amenabar knows that what is unseen scares us viewers more than what we can, and he utilizes some of the most minimal old school cinematography techniques to enhance this: snappy tracking shots, reverse cutting, and littering the soundtrack with bellowing cellos and ear-bleeding shrieking violins maximizing the jabs of terror and horror of the setting. Within the first 40 minutes of screen time, Amenabar manages to produce a fog of ambiguity out of his fog machine of directorship, reminiscent of the films inspiration from The Turn of the Screw. Are the children playing tricks on their hysterical mother? Do the servants have some sort of hidden agenda? Is the film psychological or paranormal? Are any of the ghost in the movie as frightening as Grace herself, whose strict and borderline insane parental skills are a mixture of high-strung temperament and religious bigotry? Actress Nicole Kidman nails her performance of this unstable mix with such conviction that it adds its own element of terror to the film. The exciting moment where Kidman is ravaging through the hallways and doors, with immense rage and confusion, cocking an old shotgun is a highlight that shows her acting chops[DT6]. Her stylish and multilayered performances that can be seen in some of her recent work, gives the film some extra incentive to watch. The film is not without flaw, however. The directors technical direction doesnt quite match his conceptualization. The film takes some confusing turns and is not entirely proficient in displaying the rule of thumb[DT7] of horror movies. The supernatural elements must have some sort of explanation, as the product of fear is not sold without its believability. Perhaps this is the same reason the film is openly compared to M. Night Shyamalan The Sixth Sense. This movies premise, is stated clearly by Mrs. Mills (Fionnula Flanagan), the housekeeper, is that the world of the dead gets mixed up in the world of the living.. Further through the story, she claims the intruders are bad and not to be trifled with, and yet is contradicted by her own statement in the closing of the film, we must all learn to live together, the living and the dead. The methods the film uses to address [DT8]the rest of its ghostly phenomena as confusing and contradicting as those moments in the movie. Despite[DT9]The Others not making complete sense in some ways, it has its fair share of pleasantries. There is something refreshing about seeing a filmmaker embrace classic and old fashion horror essentials with such care and precision. And there is a deeper satisfaction and enjoyment found in watching Nicole Kidman transcend the haunted paranormal that threatens to consume her. Her bone-chilling performance sells the product of fear that convinces even me, someone that considers himself a realist, that ghosts exist. As I have mentioned before, the film tackles various relevancies in current times. The truth we find in the end ties to domestic abuse shown by the intense dynamic between the mother and children, violence from the context of WWII and certain qualms with religion. The flow of events generally ties back to these, in subtle ways control the plot. Due to these ties, the relevant themes add some extra meaning to the film if connected back to our current situations with war in the middle east, violence that is still occurring in homes, as well as some religious bouts elsewhere in the world. As a film in general, The Others, though not at all plot driven, is something entirely unique from what you would see today in theaters. The craftsmanship of the screenplay, on its own sets itself apart from films such as The Conjuring, and its sequel(soon to be trilogy), that rely on the standard paranormal villainy and horror. The Others banks on the never before seen perspective of those that are the paranormal rather than those of the affected by the paranormal (well other than Casper the Friendly Ghost). The robust and engaging acting of the characters such as Kidman, and unique perspective of the film, makes this 2001 horror movie something to be seen even in this day and age.

Organizational Behaviour In The Team Work Role

Organizational Behaviour In The Team Work Role Organizational behaviour in a team work plays a vital role and it is the topic has been discussed for a very long time and now nearly everyone knows about its concepts. Simply the organizations wont perform but the one person it should people. When it comes to people there should be a team and perform individuals cant perform whatever they want in an organization they have to form a team and perform individually as well as teams. So when forming a team, organizational behaviour influences toward its success. Organizational Behaviours is the key aspect to maintain and enhance interaction levels amongst people in the organizations. Other attributes like leadership, motivation, decision making, openness to discuss problems, challenge-initiative is all tied in to this base concept of Organizational behaviour to help the business achieve its strategic and in some business objectives. The proper definition of organizational behaviour with its understanding and management has resulted in development of few key offshoots to the concept of Organizational behaviours In my view a personality behaviour means how can we describe a person, how this person differences from the others behaviour, how we can measure the characteristics and differences. Psychometrics is also the most important related to the assessment and measurement of the personality, aptitude, intelligence. It is like the unique character of the individual and measure and understands the differences between the individuals. I think the term itself indicates the properties of behaviour which are both enduring and set the individual apart from others. These properties concern the individuals typical ways of coping with life. I am going to explain a few words about the group because it will explain the importance of individual in the group. The group may spend a lot of time on the each stage, but some groups never reaching the final stages because the personality and levels of dominance of each member may play a large part in the failure or success of the group and its ability to progress through the different stages, the time goes by changes occur, such as new members joining the group or old members leaving the group may re-enter the cycle and begin the development of the process all over again. In this assignment i am going to use the Leadership theory and Motivation Maslows theory. These theories are best suitable for my opinions or views that are raised in my experience and i like those theories a lot so the two theories are chosen. Let me start with those theories Leadership theory A simple definition of leadership is that leadership is the art of motivating a group of people to act towards achieving a common goal. Leadership is one of the most hotly debated topics in management studies, social psychology and organisational psychology (Pfeiffer 1993). Despite the depth and breadth of debate concerning leadership effectiveness, it remains an elusive construct. As a result, researchers and practitioners have not reached a consensus on a true and concise definition that represents an accurate depiction of effective leadership in all situations and possibilities. The leadership is one of the effective concepts and well defined as: Treat people with politeness, respect and dignity and in doing so create a strong role model for others to follow. Building a reputation of fairness gives you a buffer against the times when the policy is wrong or you behave badly Gratton (2000:206): According to Nathan F. Iannone, leadership can be defined as the art of influencing, directing, guiding, and controlling others in such a way as to obtain their willing obedience, confidence, respect and loyal cooperation in accomplishment of an objective. Leadership is about the future and about how do I tap into the group orientation (into what everybody shares). According to Jago (1982) the quality and the qualified, good leaders are not born instead they are made with the influenza ion of the training and the self-assessment, developing skills by improvising others. The natural people ability is also evaluated as a measure of walk their talk. The fascination of the leadership is much higher in terms of the charismatic leader. The leadership based on this charismatic model is really being focused towards the vision and also the ability and the talents are naturally born and also termed as gift. The natural leader adapts the tapping of their inner resources and also natural leaders are more often generalist (Stonefield, 1992:3). The leadership theory based on this contingency model states that there is no particular model of leadership which suits as appropriate in all times of situation. The variables are the basic elements and the preliminary components which determine the success rather than the leadership style which we intend to follow or insist. The leadership has a quality in order to follow the vital roles and also in order to perform the action depending and assessing the situation through various means (Cherry, 2010). The trait approach to personality is one of the major theoretical areas in the study of personality. The trait theory suggests that individual personalities are composed broad dispositions. Consider how you would describe the personality of a close friend. Chances are that you would list a number of traits, such as outgoing, kind and even-tempered. A trait can be thought of as a relatively stable characteristic that causes individuals to behave in certain ways. Unlike many other theories of personality, such as psychoanalytic or humanistic theories, the trait approach to personality is focused on differences between individuals. The combination and interaction of various traits forms a personality that is unique to each individual. Trait theory is focused on identifying and measuring these individual personality characteristics. According to Offer Mann, Hanges and Day (2001) much of the discourse on the internal characteristics of leadership over recent years has focused on values and ethics. They argue that disillusionment and a lack of confidence in political leadership have been generated by the particular values that political leaders use to motivate their actions. As a result, Offermann, Hanges and Day (2001) claim that the world is more aware of the importance that values play in leadership effectiveness and success. In addition, it has been shown that particular types of leaders attract different followers depending on their value types (Ehrhart Klein 2001). McShane (2001) argues that in order to motivate, influence, be liked and respected, a leaders values need to align themselves with those of their employees and to reflect integrity, honesty, compassion and assertiveness. The contingency leadership is one of the effective leadership techniques and also has an ability to act as a vital tool in establishing the focus on variables in an environment in order to determine the situations which really opt for our behaviour in any kind of situation. The leadership theory based on this contingency model states that there is no particular model of leadership which suits as appropriate in all times of situation. The variables are the basic elements and the preliminary components which determine the success rather than the leadership style which we intend to follow or insist. The leadership has a quality in order to follow the vital roles and also in order to perform the action depending and assessing the situation through various means (Cherry, 2010). My definition of Leadership is being able to: inspire others, motivate, set a vision, communicate, respect others, and lead by example. A leader must have an honest understanding of who they are, what they know, and what they are capable of. To be successful person you have to convince your followers, not yourself or your superiors. In my opinion this can build confidence in your followers in their faith in you to be able to lead. Followers Different person require different styles of leadership. For example, a company requires more supervision than an experienced employee. A person who lacks motivation requires a different approach than anyone with a high degree of motivation. You must know your people! The fundamental starting point is having a good understanding of human nature, such as needs, emotions, and motivation. You must come to know your employees be, know, and do attributes. Communication Communication is the exchange and flow of information and ideas from one person to another person; it involves a sender transmitting an idea, information, or feeling to a receive. What and how you communicate either builds or harms the relationship between you and your employees. Situation Situations are different from all time. Leader is an individual who can use different leadership styles based on the situations .decide the best course of action and the leadership style needed for each situation. For example, you may need to confront an employee for inappropriate behaviour, but if the confrontation is too late or too early, too harsh or too weak, then the results may prove ineffective. Also note that the situation normally has a greater effect on a leaders action than his or her traits. This is because while traits may have an impressive stability over a period of time, they have little consistency across situations (Mischel, 1968). This is why a number of leadership scholars think the Process Theory of Leadership is a more accurate than the Trait Theory of Leadership. Every organisation is subdivided into two different categories such as formal and informal. The organisation when seen as external spectator it appears to be formal with its will defined mission statement, policies and procedure and organisation structure charts, but this is just the tip of the great iceberg floating underneath in the form of informal organisation which a manger has to face. This informal organisation includes informal leaders which have no formal authority given by organisation but they have their influence on many employees, to maintain good relation with such informal leaders as sometimes they can help in getting things done. Internally organisation is subdivided into many groups based on their nature of job, their ethnicity, their culture, their language having their own norms and sentiments managers need to identify such groups and make consistent effort to maintain peace in groups by serving the role of mediator, for smooth running of organisation. Organisation consist of another route of power which can be said as counter organisation, that can be seen in the form of labour unions which are formed to keep check on organisation and make sure that profit hungry organisation dont exploit them. Such counter organisations are needed to be handled with great care. It can be said informal organisations are formed by the people of organisation to satisfaction of their cultural needs and a sense of personal identity and personal belonging. It also provides means to highlight deficiencies in the formal organisation such as excess time taken to complete a task. MASLOW THOERY OF MOTIVATION Motivation is a fundamental driving force behind people behaviour and performance. When the research was done to explain different aspects of motivation from an organisational behavioural perspective many theories or models used to describe the topic of motivation basically it is described as the extent to which persistent effort is directed towards a goal. It is very important to know about different types of motivation theories and their implementation in a group or organisation. These motivation theories specify the kinds of needs people has and condition in which they would want to exemplify these needs. Motivation can be internal or external. Example of external motivation is Deadlines . The fear of losing a contract or of not finishing a job on time you started is an example of internal motivation. Both internal and external motivation can be equally powerful. Why i am using this Maslows theory to reflect on my behaviour in group situations. This theory comes under content theories of motivation. There is significant relationship between behaviour and motivation particularly between group and individuals. Motivations of group have a serious impact on individual behaviour likewise the motivation of an individual can have serious impact on group. Abraham Maslow theory was proposed by Dr. Abraham Maslow in 1943, this theory is general overview of human motivation. His theory strikes a distinctive sense of balance between biological and social needs that integrates many motivational concepts. According to Maslow individual needs are set in a hierarchy, and everyone must satisfy their basic needs before they can satisfy their higher needs. The hierarchy is many times portrayed, as a pyramid beginning with physiological needs at the bottom and self-actualization at the top of this pyramid. The needs at the lower level are the most basic. These basic needs must be satisfy well before an individual can become concern with the higher needs like physiological needs, safety needs, security needs, social needs, law and affection, esteem needs. These needs must be satisfied before a person can act unselfishly. He called these needs deficiency needs. As long as we are motivated to satisfy these craving, people are moving toward growth, s elf-actualization, satisfying needs is healthy, which preventing gratification makes us sick or act evilly. Gareth Morgan suggests that employees are people with complex needs that must be satisfied if they are to lead perform effectively in a work place. Employees perform best when they are motivated by task, which will earn them some reward that satisfies their personal needs. Abraham Maslows theory of motivation most widely famous as hierarchy of needs states that human needs when arranged in form of hierarchy, ascending from lowest to the highest, as soon as need at lower level gets completed, the need at next level servers to be a motivator. Maslow divided human needs into five main categories such as physiological which include basic needs for sustaining life like food, water, shelter and sleep. Abraham Maslows needs hierarchy There are five different levels in Maslows hierarchy of needs: Self-actualizing Needs Self-actualizing Needs is the highest level of Maslows hierarchy of need. People are self-aware, concerned with personal growth, less concerned with the opinions of others and interested fulfilling their potential. Esteem Needs Esteem needs include the things that reflect on self-esteem, personal worth, social recognition and accomplishment. Social Needs Social needs include belonging, love and affection. Maslow considered these needs to be less basic than physiological and security needs. Relationships such as friendships, love, romantic attachments and families help fulfil this need for companionship and acceptance, as does involvement in social, community or religious groups. Security Needs Security needs include safety and security. Security needs are important for survival, but they are not as demanding as the physiological needs. Examples of security needs include a desire for steady employment, health insurance, safe neighbourhoods and shelter from the environment. Physiological Needs A physiological need is low needs. These include the most basic needs that are vital to survival, such as the need for water, air, food and sleep. Maslow believed that these needs are the most basic and instinctive needs in the hierarchy because all needs become secondary until these physiological needs are met. Maslow was correct when he said that one need has to be fulfilled before we can move to the next one. Without sufficient amount sleep I wouldnt be able to think of nothing but sleep. Also if I am hungry food will be the only thing on my mind. But because each day I satisfy these basic needs I am able to think about other things because these needs are no longer controlling my thoughts. Next priority is given to security which includes freedom from physical danger and other fears like losing job, property, food, or shelter. Since people are social animals they need to belong, to be accepted by others, hence acceptance third in the list of needs. Once people satisfy their need to belong esteem needs emerge in the form of satisfactions as power, prestige, status and self-esteem and at last when all the other needs are satisfied need for self-actualization which is the desire to maximize ones potential and achieve something. Applying this theory many organisations where suggested to motivate their employees by monetary gains or assuring security of their job. , Koontz, H, Weihrich (2008), Morgan (2006). There was a research conducted by Douglas T Hall and Khalil Nongame which studied needs of hierarchy involving a group of managers over a time span of five years. They found that there was no strong evidence of hierarchy, as managers get promoted in organisation their physiological needs tend to decrease, while on other hand needs for self-actualization tend to increase H, Koontz , H, Weihrich(2008). Upcoming flaws of Maslows theory the process theory of motivation stated, with the study of ones decision making process and deter mining how individual behaviour is energised, directed and maintained. The major process theory of motivation includes expectancy theory, equity theory, goal setting theory and reinforcement theory. In my classroom activities I am relating this theorys to my classroom activities in a group. When considered my experience in a group situation once while doing a group presentation in collage we all are five people. We had a 20 days time to presentation and from first day we all thought to meet at my place but no one turn up this happened many time every one say some other reason. It happened for all 19 day only 1 day left to submit the presentation than I thought to divide the task to my group members. Each one is assign a separate task and the task should complete before the particular schedule time. With this I emerge as leader that made me influenza ion as Leadership. Not only Leadership but also motivation In order to sleep tonight I have to complete my task of presentation before sleep. I need to satisfy my physiological need that is to sleep in time. I should complete the presentation before night CONCLUSION According to the trait theory the question arises of weather a leader is born or developed. There is no defined answer as many theorists have different answers to this. Understanding the concepts from above of motivation its rewards systems as to how useful it is for a leader to understand how it can be utilized in getting work done from people, decision making and its importance in growing more efficient, managing change and adapting quickly to it, understanding human perceptions and how they affect management, understanding the value of power in an organization without which a leader is nothing, politics and control and the other factors finally lead towards the understanding that leaders are developed. Many individuals may be born with the skill to be a leader this does not prove that he grows up to be an effective leader. However he can develop the ability to become one. Experience and the urge to learn can help one become an efficient leader. According to my understanding a pers on might be born with natural abilities to become a leader. This assignment is very useful to assess my past behaviour to the present behaviour and ways to develop the behaviour and to assess the performance by using these theories in a group. These are the two oldest theories what I used because older principles are the basic for anything i.e. the applications should follows the basic principle. Only few people are reached the self-actualization concept in the Leadership theory and Maslows theory. I am very much willing to taste that step. So I am going to putting my effort in this way and also looking the ways to develop. In my opinion if the group activities are conducted from the child hood they will be a very useful to the individual to improve their personality, behaviour and from that the concept of Leadership and motivation skills will also improve for the betterment of the future.

Hopeful Hell: The Search for Hope in a Post-Apocalyptic World Essay

Death and destruction are the epitome of a doomed world. Everything is destroyed and murders march the streets at night. Hell on earth is a gentle description. Cormac McCarthy's speculation of the end of the world, however, ensures that evil is not victorious. The biblical allusions Cormac McCarthy addresses in The Road illuminate a sense of hope in a bleak, empty world. Despite a grim first impression, the repetitive imagery of ash represents hope according to symbolism found in the Bible. Ash becomes a natural setting, described throughout the whole book, with a seemingly melancholy mood. McCarthy introduces ash within the first pages: â€Å"Everything paling away into the murk. The soft ash blowing in loose swirls over the blacktop† (McCarthy 4). Normally, the connotations of ash create a dark gloomy atmosphere. McCarthy's intentional diction in this passage, however, create an opposing mood. The phrases â€Å"soft ash† and â€Å"loose swirls† create a relaxed image, allowing the ash to be interpreted in a hopeful manner. This hopefulness is enforced by the symbolism of ash in the Bible. After Adam and Eve committed the first sin, God warns them of his power, â€Å"For dust you are and to dust you will return† (Genesis 3:19). First of all, this verse exemplifies the great power of God. He created the complex human bod y out of mere dust. In relation to The Road, the ash represents the presence of a great power. This brings hope to the father and the son, knowing that the ability to create something out of the ash exists. Similarly, the concept of fire found throughout the novel, although serving as a representation of destruction, sheds light on the underlying theme of hope. We are led to believe, through various descriptions, that the world w... ...† describes the world as a puzzle to be solved. The answer is not easily deciphered, but rather is a learning experience. Secondly, the â€Å"thing which could not be put back† is the customs of the old world. The images of the old world and their meanings fade away, as the world fades away itself (Schaub). These things cannot â€Å"be made right again†. The meaning of the world is not gone. It just changed (Kunsa). The world is left with a â€Å"hum of mystery†, a place full of possibility and potential. This last paragraph brings hope to the future, and promises for a better world. Through many biblical allusions, the father and the son experience the affects of hope. Despite the destroyed world, they come together to survive the post apocalyptic world. The â€Å"good guys† bring hope for the future and for the defeat of evil. Promise and prospect will guide the new, hopeful world.

Sharks Essay examples -- essays research papers fc

SHARKS There are more that 250 species of sharks, ranging from the harmless whale shark to the ferocious great white. I will describe the feeding habits and localities of the three greatly known to mankind: the great white shark (Carcharodon Carcharias), the tiger shark (Galeocerdo Cuvieri), and the bull shark (Carcharhinus Leucas). The great white shark, known as Carchardon Carcharias, feeds regularly on marine mammals, such as seals, sea lions, otters, dolphins, and whales. Samuel Gruber in Discovering Sharks writes that the great white consumes marine mammals when they come across a deceased one. Even though the great white has the reputation of a man-eater; they attack thinking that the diver or surfers on a short board are part of its natural prey. The San Francisco area is known as the great white capital, because of the â€Å"Red Triangle.† The red triangle is the breeding ground for its natural prey, seals and sea lions. The triangle’s boundaries are north of Tamales Point, south of Monterey Bay, and west of the Farallon Islands, states Rodney Steel in the book Sharks of the World. The sharks also are found in quiet, shallow waters, along with in Australia. The tiger shark, known as Galeocerdo Cuivieri, feeds regularly on marine mammals also. Tiger sharks do end up with curious articles in their stomach like license plates, lamps, and sheep. The tiger shark is a cannibalistic shark, which means it will attack its own kind when needed. Tiger sharks will feed on anything th...

ASPECT OF CONMTRACT Essay

Understanding the essential elements of a valid contract in a business context P1.1. Explain the importance of the essential elements required for the formation of a valid contract There are several important elements in order to form a valid contract. 1. Offer and Acceptance.- In order to create a valid contract , there must be a ‘lawfull offer ‘ by one party and ‘lawfull acceptance’ of the same by the other party 2. Intention to Create Legal Relationship- In case,there is not such intetion on the part of partyes, there is not contract. Agreements of social and domestic nature do not contemplate legal relations .Case ; Balfour vs Balfour (1919) 3. Lowfull Consideration. Consideration has been defined in various ways Acourding to Blackstone † Consideration is recompense given by the party contracting to another † in other words of Pollock† Consideration is the price for wich the promise of the another is brought †Ã¢â‚¬ ¦Ã¢â‚¬ ¦.consideration is known as quid pro-quo or something in return 4. Capacity of Parties ;The parties to an agreement must be competent to contract. If either of the parties does not have the capacity to contract , the contract is not valid Accourding the following persons are incopetent to contract ; a -miners, b-persons of unsound mind c-person disqualifield by low to wich they ar subject 5. Lawfull Object.; The object of an agreement must be valid . Object has nothing to do with consideration it means to purpoase or design of the contract. This when one hires a house for use of a gambling house , the object of the contract is to run a gambling house 6. Legal formailities ; An oral Contract is a perfectly valid contract espect in those cases where writing registration etc,is required by some statute, in India writing is required in cases of sale, mortgage lease and gift on immovable propriety, negociable instrument etc 7. Certainity of Meaning; Acourding to Section 29; Agreement the meaning of wich is not Certain or capable of being made certain are avoid 8. Posibility of Performance; If the act is imposible in itselfe physically or legally if cannot be enforced at law. For example Mr A agrees with B to discover treasure by magic. SUCH agreements is not enforceable P1.2. Discuss the impact of different types of contract A contract is an agreement between two parties that must include an offer , an acceptance and a consideration .There are a variety of different types of contracts used for different purposes, in addition, certain types of contracts may be more popular in one jurisdiction than in another Bilateral and unilateral implied, viodable,executory and oral contractat are among the common types of contracts used throughout the world Bilateral contracts make up the majority of the contracts drafted. A bilateral contract consists of tho parties who are under an obligation to do something or refain from doing something. For example a contract for the sale of goods is a bilateral contract. The buyer promises to purchase the product and, in turn, the seller promises to supply the product P1.3. Analyse terms ic contract with reference to their meaning and effect The terms of an agreement may be so vague and indefinite that in reality there is no contract in existence at all. (Scammell v Quston (1941)). The presence of a vague term will not prove fatal in every case. The contract itself may provide any disputes about the operation of the agreement can be resolved. (Foley v Classique Ltd (1934)). A court can ascertain the terms of a contract by reference to a trade custom or a course of previous dealings between the parties. (Hillas & Co Ltd v Arcos Ltd (1932)). A meaningless term which is subsidiary to the main agreement can be ignored and the rest of the contract enforced. (Nicolene Ltd v Simmonds (1953)). Express terms, are the details of a contract which have been specifically agreed between the parties. (Harling v Eddy (1951)). There are a number of express term that feature a standard contract such as exemption clauses, liquidated damages clauses and price variati on clauses. This terms can effect a contract. For example liquidated damages clause can affect the term in a contract, because it lays down the amount of damages that will be payable in the event of a breach of a contract. Cancelation charges are an example of a liquidated damages clause. Implied terms, represent addition terms that are implied into an agreement. Those can be by custom (Hutton v Warren (1836), by common low (The Moorcock (1889)), or by statute. The most common being the sale or supply of goods Act 1979. Be able to apply the elements of a contract in business situations P2.1. Apply the elements of contract in a given business scenarios In the business scenario 1, at an auction sale the call for bids by an auctioneer is an invitation to treat, the bids are offers. The auctioneer selects the highest bid and acceptance is completed by the fall of the hammer. (Payne v Cave (1789)). Advertising a forthcoming auction sale does not amount to an offer to hold it. (Harris v Nickerson (1873)). An offer can be revoked at any time before the acceptance but it will only be effective when the oferee learns about it, and it is not necessary that the oferor himself should tell the oferee that the offer has been revoked. (Dikinson v Dodds (1876)). The case study shows that the offeror was Montblanc auction and Harry, Miss Kaur the oferee shown the intention to bid for pen fountain at Montblanc auction, willing to travel to Manchester for it, and she also shown intention to buy pen fountain from Harry but she did not decided 100%, therefore, even though the offer was expre ssed to be open until after lunch break, such offer can be revoked before the end of the time limit, because Miss Kaur did not agreed with the offer. A promise to keep an offer open will be binding if it can be enforced as a separate contract. A legally binding option will be created if the oferee provides some consideration in return for the offeror’s promise to keep the offer open. (Mountford v Scott (1975)). In the case study, Miss Kaur could have paid a deposit in advance to make sure she could still have the pen fountain. Consideration was shown between Harry and Miss Kaur, and each side promise something to the other party. This was not the case with the Mountblanc Auction, even if the auction for the pen collection supposed to be open, the parties did not enter into a consideration. Intention, the low is not concern itself with purely domestic or social arrangements. The parties must have intended their agreement to have legal consequences. In the first case Mountblanc auction showed the intention to offer for bid the pen fountain, and this was mention in the list of items to be auctioned, but because of one or another reason this was cancelled. On the other hand Harry shown the intention to wait until after lunch for Miss Kaur, but because it wasn’t any written contract between them, he decided to sell his pen fountain with a better price of  £1000, breaching the informal contract that he had with Miss Kaur. In the context of contract low, Miss Kaur cannot take any action against the auctioneer for the expense of her travel to the auction and she cannot take any action to  Harry for not selling the fountain pen to her. Business scenario 1, shows that the agreement between Charles, owner of a house, and Murphy, who supposed to make renovation in the house by a set amount of money ( £50.000), at a specific date. Secondly, consideration is shown in the case study where both parties agreed to give something in return. Charles agreed to pay  £50.000 for the house renovation, and Murphy agreed with the sum initially. Intention, is shown when Murphy asked for an increase in salary in order for the job to be done in time, even if Charles agreed initially, than he turn his back on the offer that he made, respecting only the legal terms from the contract. In this situation Murphy can’t make any legal action against Charles. Capacity, in this case both parties where capable of fulfilling their commitments. Charles paying for the service, Murphy capable of doing the service. Genuineness of cons cent appeared between parties, when the initial contract was formed. Here was the time for Murphy to argue for an increase in salary, and not at a later date. Legality element of the contract is present, because it is nothing illegal or contrary to public policy. P2.2. Apply the law on terms in different contracts A standard form contract (sometimes referred to as an adhesion or boilerplate contract) is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favourable terms and is thus placed in a â€Å"take it or leave it† position. Examples of standard form contracts are insurance policies (where the insurer decides what it will and will not insure, and the language of the contract) and contracts with government agencies (where certain clauses must be included by law or regulation). For example MetLife insurance company, has the terms of the contract are contained in a written document, the parties will be quite clear about what they have agreed to and this is likely to minimise the possibility of disputes a later stage. For example MetLife can make a contract of a life cover with a minimum of  £7, in which the client would know the standard terms and condition stipu lated in the contract. It would be very time- consuming to negotiate individual terms with every customer, because the company is offering a standard service to a large number of people. Standard form, business-to-consumer contracts fulfil  an important efficiency role in the mass distribution of goods and services. These contracts have the potential to reduce transaction costs by eliminating the need to negotiate the many details of a contract for each instance a product is sold or a service is used. However, these contracts also have the ability to trick or abuse consumers because of the unequal bargaining power between the parties. For example, where a standard form contract is entered into between an ordinary consumer and the salesperson of a multinational corporation, the consumer typically is in no position to negotiate the standard terms. As example MetLife representative often does not have the authority to alter the terms, even if either side to the transaction were capable of understanding all the terms in the fine print. These contracts are typically drafted by corporate lawyers far away from where the underlying consumer and vendor transaction takes place. The danger of accepting unfair or unconscionable terms is greatest where these artful drafters of such contracts present consumers with attractive terms on the visible or â€Å"shopped† terms of most interest to consumers, such as price and quality, but then slip one-sided terms benefiting the seller into the less visible, fine print clauses least likely to be read or understood by consumers. For example a customer of MetLife can be assured for accident protection, but there are only a specific accident that the company may cover the client. In many cases, the consumer may not even see these contracts until the transaction has occurred. In some cases, the seller knows and takes advantage of the knowledge that consumers will not read or make decisions on these unfair terms.(Standard Form of Contracts, 2014). P2.3. Evaluate the effect of different terms in given contracts In the business scenario 4, terms stipulated in the contract are the payment for the research assistant ( £25000) and the working hours, witch in this case are â€Å"whatever hours are necessary to complete the assignments given to her†. Section 1 of Employment Rights Act 1996 that in fact requires the employer to state the amount of hours worked by the employee. Disciplinary procedures had to be insert in the terms of a contract, where, for example Miss Y had to receive a number of warnings that will be given to her before suspension or dismissal, for her behaviour of wearing trousers and not a dress, on the morning of 2nf June. Because of this terms of the contract, Miss Y can  appeal to grievance procedures that relate to complains in regard to any aspect of the employment with witch the employee is not satisfied. In this case dismissal for asserting the right is automatically unfair and there is no service requirements by reason of section 104 of the ERA 1996. (Riches, S. & Allen, V. 2011). Under the Employment Act 2002, Miss Y can claim compensation for unfair dismissal. She can also claim because of the Working Time Regulation (SI 1998/1833),where is stipulated that the employee has a maximum of 48 of work a week, a daily rest of period at least 11 consecutive hours in 24 hours, and in work rest break of 20 minutes for those working more them 6 hours daily. Miss Y, could also claim compensation and Health and Safety at Work Act 1974, if the court finds that she receives medical treatment for depression due to the employment environment. Understand principles of liability in negligence in business activities P3.1. Contrast liability in tort with contractual liability Tort liability arises out of a civil wrong, for example, people who do business, sole proprietor or in a partnership are liable for the torts committed by themselves and for torts committed in the course of the business by their agent and/or partners. However, one may avoid tort liability for the acts of business associates if they operate their business as a corporation or a limited liability company. Thus, the choice of entity is too perceived to have potential benefit if one is concerned about limiting one’s tort liability. Regardless of what type of business organization a person is liable for torts committed by himself, if for example he/ she is driving the company vehicle and are involved in an accident the other party is liable if he/she negligently operated the vehicle whether he/she operate as a corporation, partnership or sole proprietor. (Business Law, 2014). Contractual Liability, appears when a corporation or a limited liability company may protect one’s pe rsonal assets should the operator incur a significant contractual liability from the business operation. For example, a building contractor signs a contract to construct an office building for a business client and fails to meet the contractual deadline, the business client holds the contractor liable for consequential damages – profits lost for the time the client is not able to occupy the new building. Particularly in the construction area, contractual  liability may exceed simply the contract price. So long as one does not personally guarantee the contract of the business entity, his or her personal assets, assets owned outside the corporation or LLC, are protected as the corporate operator should not be personally liable for the corporate debts, contracts and contractual liabilities. Often, however, people dealing with corporations demand that the principals of the corporation personally guarantee the contracts. (Business Law, 2014). P3.2. Explain the nature of liability in negligence Liability of negligence appears when a claimant is able to prove that: â€Å"the defendant owed him a legal duty of care; the defendant was in breach of their duty; and the claimant suffered injury or loss as a result of the breach†. (Riches, S. & Allen, V. 2011:348). For example a producer of goods may be liable to a consumer for loss and damage caused by his defective product under the tort of negligence. A consumer must establish the manufacturer owed him a duty of care. In Donoghue v Stevenson (1932) case, House of Lords established the principles that a manufacturer was a duty of care to all persons who are likely to come into contact with his goods. The breach in duty occurs if the fallowing factors such as the like hood that the damage or injury will be incurred, the serious of any damage or injury, the cost and ease of taking precautions and the social need for the activity. (Balton v Stone (1951). In the final part the claimant has to prove that he suffered damage if this damage was caused by a negligent misstatement as in the case of Hedley Byrne & Co Ltd v Heller and Partners Ltd (1963), or it was consequent upon foreseeable physical injury or damage to property such in the case of Junior Brooks Ltd v Veitcho Co Ltd (1982). P3.3. Explain how a business can be vicariously liable Employers can be held vicariously liable for acts of negligence or omission on the part of their employees in the course of employment even if the employer did not authorise or was unaware of the acts in question. To mount a successful defence, an employer must demonstrate either that the employee was not negligent or that the employee was acting in an individual capacity unrelated to the business of the employer. In some circumstances employers may also be liable for the misdemeanours of their independent contractors or  workers employed by a third party, such as an agency. For example, this applies where the employer authorises the wrongful act or had overall responsibility that could not be delegated. For example an employee that works for a catering agency, who does wrong doing at one of the clients that the agency is sending him to work for, the agency can be responsible for. The main deciding factor as to which employer has the responsibility for a sub-contractor or agency worker is that of ‘control’. The employer who gives direction and instructions for the work to be conducted will usually be the one to bear responsibility for misdemeanours carried out during the course of that work. If more than one employer can be identified as having control over the work of the employee then the principle of dual vicarious liability may apply. This is a principle introduced by the decision of Lord Justice May in the recent case of Via systems (Tyneside) Limited v Thermal Transfer (Northern) Limited & Others. The case involved compensation for a flood at a factory which had been caused by the sub-contractor of a sub-contractor. In his ruling, Lord Justice May decided that more than one employer could be subject to a claim and that the amounts awarded should be split equal unless it could be clearly demonstrated that one party bore more of the responsibility than the other. This courageous decision overturned the principle established in Laugher v Pointer in 1826 that only one employer could be held vicariously liable. (Vicarious Liability, 2014). Be able to apply principles of liability in negligence in business situations P4.1. Apply the elements of the tort of negligence and defences in different business situations The tort of negligence is concern with certain kinds of careless conduct with cause damage or loss to others. As explain in task 3.2. There are three factors to consider. Firstly duty of care, if this duty is break and if the other party suffered any damages. In the Business Scenario 5 it is presented the fact that a UK ship was taking oil in Sydney harbour, spilling oil in the water, and because of a spark it set fire to a wharf witch was at 200 yards distance. The case also shows that safety precaution were taken but does not explain how. On the one hand, it can be argued therefore that the duty of care of the UK ship was broken, because the ship supposed to take more precautions on the duty of care and harm any neighbour. The defendant has break their duty of care  because the likelihood of an accident such as this could be foreseen. On the other hand, it can be argued that the defendant can claim â€Å"res ipsa loquitur†, witch mean that the facts spick for themselves, and it can be prove to court that the UK ship took enough safety precaution to avoid any accident, therefore the defendant would not be seen as negligent. The condition must be satisfied for res ipsa to come to play are in case of the event which caused the accident must have been the defendant’s control, witch in this case can be argued that it was, and the accident must be in such nature that it would not have occurred if proper care had been taken by the defendant, witch again could be argued that the ship took enough safety precaution. The damage that occur after this accident was that the claimant suffered damaged on his wharf, thereby he has to prove in court that this damages was made as a consequences of the UK ship actions in the harbour. In the case of Business Scenario 6, the negligence was made by Shell, because they had failed to provide protection goggles to Bell while he was working in spite of the fact that this was not a normal practice at the firm. Negligence was also made but the employee Bell, because firstly he supposed to protect himself especially because he had lost one eye, and he could have been more precaut. The breach of duty was made by Shell, because the job that Bell has implied vehicle maintenance, and while working with materials such as metals, the company should have provided protection for Bell under the Consumer Protection Act 1987. Bell, can therefore claim compensation for its employee negligence towards him, because he suffered injury while working at Shell Company. P4.2. Apply the elements of vicarious liability in given business situations Low states that an employer is liable for damage caused to another person by his employee, while the employee was caring out his work. The employer is liable even though he was not in any way at fault, and this rule even if seems to be unfair for the employer, it is based upon the law and policy. Employer and employee are regarded as â€Å"associated parties† in the business in which both are engaged. In the Business Scenario 7 and 8, Alf and Amos Bridge breach their contractual duties, therefore because they were acting at work, the employer is automatically consider guilty as well by the court. References: 1. Business Law, Available at: http://pullman-wa.com/law/businessLaw.htm, [Accessed on 12.03.2014]; 2. Riches, S.& Allen, V. (2011), Keenan and Riches’ BUSINESS LAW, 10th (ed), Pearson: London; 3. Standard form Contracts, Available at: http://faircontracts.org/what-are-standard-form-contracts, [Accessed on 15.03.2014]; 4. Vicarious Liability , Available at : http://www.uktrainingworldwide.com/BB/VicariousLiability.htm; [Accessed on 13.03.2014];