Human Capital, Inequality and Growth in Transition Economies Essay

Human Capital can be characterized as the amassing of skills and information in people increased through instruction and experience, not overlooking their character characteristics. All these set up empower people effectivley perform productive and income creating financial exercises. Such able people in a general public are now and again reffered to as a workforce or laborforce. A few instances of interests in people that bring about human capital are instruction, wellbeing and preparing. As Becker says, human capital speculations raise the procuring capacity of people, improve wellbeing and add to an individuals’ decent propensities. The term imbalance for the most part alludes to variations in access to circumstances or assets among people, gatherings or even nations. A portion of the regular reasons for imbalance are; sexual orientation, race, age, geological area and even social practices. Disparity ordinarily brings about noticeable contrasts in levels of development and improvement of people or starting with one society then onto the next. Instruction is the procedure through which people can secure essential abilities fundamental forever. It is the comprehension and translation of information that enables people to build up a consistent and balanced psyche. The balanced brain is then can decide connections amongts appropriate factors, along these lines encouraging comprehension. Training includes finishing educational plan based fixed time accomplishments, planned for building proficient capacities. At the individual level, it builds up the abilities and possibilities of the individual in order to set them up to be fruitful in a particular society or culture. For this situation along these lines, training serves an individuals’developmental needs. At the point when instruction occurs at the cultural level, it is therefore characterized as a procedure by which society transmits to new individuals the qualities, convictions, information and symbollic articulations that make correspondence conceivable inside that society. In this sense, instruction serves a social and social capacity. Roland (2000) says that progress financial aspects, otherwise called change financial aspects alludes to a state whereby economies have bit by bit changed over from communism to private enterprise, a model being the previous communist economies. There is a move from normalized costs and money related speculations to organizations outfitted towards a higher proficiency. This change can possibly flourish if there is continued government and political help. The Soviet Union in full, is known as the Union of Soviet Socialist Republics (USSR), It was portrayed by a solitary socialist ideological group, an arranged economy and the KGB security organization which firmly checked exercises inside the association. USSR was shaped in December 1922 and by 1956, it was involved 15 nations with Moscow being the capital city. The fifteen nations included; Armenia, Azerbaijan, Belarus, Estonia, Georgia, Kazakhstan, Kyrgzstan, Latvia, Lithuania, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine and Uzbekistan. Disintegration of USSR started in 1985 and proceeded upto 1991, with the fifteen part states picking up their autonomy a couple of months before the Soviet Union fallen in late 1991. Following the breakdown of the Soviet Union, rebuilding of the authoritative capacities and advancement of a market put together framework was quickly left with respect to through Yeltsins’ stun program. The point was to improve ways of life, guarantee impartial asset allotment, make new creation roads, advance progression, and give motivations through privatization exercises. In any case, a free and changed market didn't come without ny challenges. By 1992 Russia endured a deppressed future, twenty five percent of the populace lived in miserable destitution, there were low birthrates, and a descending inclining Gross Domestic Product (GDP). Be that as it may, because of expanded venture exercises, exploitatation of important common assets and expanded business advancement activites, the economy started to make noteworthy improvement. The point of this paper is to investigate how training as a factor of human capital and imbalance impacted development on the move economies, as for the previous Soviet Union nations (FSU). Hypothetical exploration Human capital concerning training and levels of imbalance both affect the development experienced on the move economies. This development is subsequently a final product of value instructive ventures and evenhanded appropriation and allotment of imperative assets over a nation. Such a theory makes development the reliant variable whose result is impacted by two autonomous factors to be specific; training and imbalance. Perception of development and advancement drifts experiencing significant change economies and the creating scene, have demonstrated that training can have both positive and negative effects on an economy. One of the constructive effects is that people who have the pertinent information and aptitudes required by associations can get to all the more likely openings for work rather than the individuals who are inadequately instructed. What's more, significant levels of training empower people to make sure about employments in different nations, along these lines assisting with lightening the issue of unemployement in their motherland. Spagat (2002) saw that during Russia’s progress, scholarly people were progressively propelled to seek after more training chances and consequently, turned out to be fruitful in their professions. With respect to the financial change in the previous Soviet Union nations (FSU), taught guardians who despite everything held instruction in high regard, were centered around guaranteeing that their kids obtained a similar degree of training as them or much higher. While then again those guardians who saw instruction as a weight instead of a speculation concentrated on the absolute minimum, that is, fundamental training. The aftereffect of this demeanor was that these specific families stayed caught at essential instruction level as was their entrance to pay producing openings. Through instruction and preparing, people secure critical thinking abilities and business visionary administration aptitudes which inturn, assist them with setting up and work fruitful endeavors, in the process making business openings. Also, as the field of training develops inside a nation with more colleges, universities, secondary schools and elementary schools being built, more openings for work are made in the instruction division. People who are knowledgeable are probably going to make sure about better paying employments, which inturn builds their buying power in addition to it expands the interest for products and ventures accessible in the economy. The net impact of this, is formation of more employment opportunites in the creation and administration parts. These people can improve their ways of life including those of their dependants. What's more, issues of wellbeing and fruitfulness are settled on from an educated point, (Newell and Reilly, 1999). Through instruction, people are presented to society and they secure significant properties and qualities that can assist them with improving their ability to cooperate and relate with different people in the public arena. Accordingly, they ready to adjust and adapt to the elements of the working environment. To wrap things up, instruction as a supporter of human capital improves financial development and advancement in a nation, since the human capital is prepared on the best way to misuse the countrys’natural assets gainfully. Nations coming up short on this human capital are neither ready to abuse their assets satisfactorily, nor are they ready to build up their economy at the ideal pace. Barro (1998) contends that human capital upgrades retention and use of predominant innovations from different nations. Youthful and taught people under the direction of the more established society can lead innovative work. The improved innovation in a transitional economy upgrades the speed and nature of creation of merchandise and ventures, through improved and more cost proficient work forms. The youthful enterprises are thusly ready to fulfill rising needs, both residential and outside henceforth expanding their incomes and assessments to the administration. Munich et al (1999), contend that in a change economy, government backing and uplifting disposition towards interests in human capital is fundamental. The administration needs to dispense assets for instance for building schools and furthermore for tempting individuals to take a crack at this schools. In any case, the upkeep of the enlistment levels is a proceeded with process whose financial advantages are just acknowledged after some time as was found in the Czech Republic. On the side of this contention, Spagat (1995) cautions that it is despite the fact that human capital takes a very long time to collect, it really takes a brief time to fall apart, subsequently governments can't bear to delay this venture, even incidentally. The legislatures must guarantee that training and different aptitudes are moved adequately starting with one age then onto the next. Rebuilding of instruction, should be done from the earliest starting point of the change from communism, so as to quickly improve educations’ quality. There is a multiplier impact that accompanies better quality training. The first being an expanded access to openings for work, higher wages and subsequently more assessment income for the administration. The significant impact be that as it may, is that it sets the principles for people in the future, both as far as nature of instruction and future livelihoods, (Spagat, 2002). Fan et al (1999) said that the youngsters of Russia during the change had practically zero inspiration to invest energy to seek after instruction. This is on the grounds that the instruction framework had not been rebuilt to coordinate the market-arranged framework and consequently the profits were not high. World Bank (1995) blamed Russia for focusing on heaving researchers and architects as opposed to creating a blend of experts who might bolster the various segments of Russia’s’ economy.

Journeys Of Dante And St Augustine In Confessions Religion Essay

Excursions Of Dante And St Augustine In Confessions Religion Essay St. Augustine and Dante made an extraordinary commitment to the advancement of world societies. The effect of these incredible pioneers had a ground-breaking power the following hundreds of years. Contrasting the profound excursions of Dante and St. Augustine in the Confessions, it is conceivable to specify that the sonnet The Divine Comedy is a genuine perfect work of art of a well known Italian artist. Dante saw the other world and discussed his excursion through some serious hardship. This sonnet exemplifies a symbolic vision of the great beyond, good and strict considerations with educational purposes. Various stories of spooky wanderings, dreams of paradise and hellfire discovered its most elevated creative articulation in the Divine Comedy. Dante has made a framework in a harsh blend of pictures. This framework is propelled by the lessons of the congregation and the lessons of Aristotle and Cicero. Dantes direct through some serious hardship was a Roman artist Virgil, who being the voice of reason, trained Dantes otherworldly life and helped him to shape an ethical inner voice, vital for life in concordance with Gods will. In examination, the Confession is a focal schola rly work of St. Augustine. The name of this work altogether relates to its genuine substance: a delinquent, opening his own spirit to the perusers, despite God and individuals atones of his wrongdoings and offers gratitude to God for His kindness. During his life, Augustine voyaged a great deal, learning and seeing the Orthodox confidence. The differentiation between the otherworldly excursions of Dante and St. Augustine is that Augustines venture is more confessionary, however Dantes one is increasingly mental. St. Augustine and Dante as the admirers of excellence, both scholarly and physical, share a similar requirement for its payoff. Nonetheless, nobody would express that excellence is damage or fiendishness. The Divine Comedy and The Confessions revealed that excellence is acceptable and it is from God. One of the principle ideas is that the two artists expressed that so as to feel the fulfillment of salvation, it is important to recollect that excellence must be adored as a methods for Gods beauty and perceived as originating from Him. Looking at Dante and St. Augustine, it is conceivable to include that, as indicated by their places of perspectives, the primary key to feel this salvation is effortlessness. Dante saw the thoughts of St. Augustine through different layers and consequently the connection among Dante and St. Augustine is intervene. The central matter of contact: a flat out incomparability of otherworldly qualities over mainstream ones, a savage upbraiding of people groups voracious want to have a transgression of desire. The likenesses between their self-portraying accounts are that Augustine and Dante can't envision some other method of presence, aside from inside the system of the Christian perfect. Augustine showed Dante how to prevail in the craft of medieval admission a child of the Century. This admission of young works and The New Life is the most impressive words in the verses of Dante, which makes it ever-enduring. Furthermore, Dante obtained Augustines mental investigation arranged on the perusers minds, yet in addition on the perusers spirits. Dante was pulled in by the thoughts and creative strategies for Augustine. He frequently routed to The Confessions, whic h in a roundabout way demonstrated the proportion of impacts on his craft and religious philosophy. This is an across the board reality that Virgil assumed a major job in Dantes account. Virgil, as a delegate of the most significant human shrewdness, became Dantes pioneer and guide through the circles of damnation. For Dante, Virgil is the most noteworthy artist, respect and light of the vocalists everywhere throughout the world, my instructor, my preferred model, and a trailblazer of another period throughout the entire existence of humankind. For Dante, the Aeneid was a steady wellspring of motivation, from which he determined the thought and style of Comedy, just as his verse: a mix of mystery, dream, reality and prediction. Despite the fact that there are a few contrasts between Dantes Inferno and Virgils Inferno (Dantes Inferno was possessed by adversaries and companions), he acquired Virgils legends of the Golden Age and Cretan elderly person, awful canine, pictures of Reef and Plantman, and so forth. A few researchers stressed a polyphonic character of St. Augustines Confessions, explicitly his utilization of different scriptural citations, implications, and Virgils Aeneid. In the event that we recall the principle topographical developments of St. Augustine, we can see that these developments reflect Aeneas ventures. For example, Augustine comes to Carthage, which is one of the most notable and focal urban areas of the Roman Empire, so as to proceed and afterward finish his examining. St. Augustines use of certain Virgils content is a blend of an old custom of taking up various stories, subjects from the past works and after that re-keeping in touch with them for your own motivations. Hence, Virgil assumed a significant job in Augustines account. Taking the above-expressed data into thought, it is conceivable to make an inference that St. Augustines work is a ground-breaking power that isolates one verifiable period from another the finish of old Christianity from the early medieval Christianity. Thus, Dantes imagination tremendously affected the improvement of Italian writing and European culture all in all.

Struggling with PTSD ART May Help

Struggling with PTSD ART May Help PTSD Treatment Print What Is Accelerated Resolution Therapy? Innovative Treatment for PTSD, Depression, and Stress By Jodi Clarke, MA, LPC/MHSP twitter linkedin Jodi Clarke, LPC/MHSP is a licensed professional counselor and mental health service provider with over 20 years of experience in the field. Learn about our editorial policy Jodi Clarke, MA, LPC/MHSP Updated on February 03, 2020 Post-Traumatic Stress Disorder Overview Symptoms & Diagnosis Causes & Risk Factors Treatment Living With In Children Accelerated resolution therapy (ART) is a form of treatment developed by licensed marriage and family therapist, Laney Rosenzweig, LMFT. This innovative treatment method has been influenced by many existing evidence-based treatments and techniques, including: GestaltCognitive behavioralGuided imageryEye movement desensitization reprocessing (EMDR)Brief psychodynamicExposure therapy (imaginal exposure) As described they the Rosenzweig Center for Rapid Resolution, ART works directly to reprogram the way in which distressing memories and images are stored in the brain so that they no longer trigger strong physical and emotional reactions. With roots in a variety of existing evidence-based treatment practices, ART has been found to be an effective treatment for depression, anxiety, panic attacks, and PTSD. Verywell / Brianna Gilmartin Background on PTSD Post-traumatic stress disorder (PTSD) affects approximately 13 million people at any given time in the United States, which is roughly 5 percent of the population. With so many people suffering, it is important for the mental health community to consider innovative methods to help people find healing. It has been suggested that people who experience trauma wait as long as two years after their realization of pain from the trauma to seek help. Two years is a long time to experience that kind of pain and, by the time people are seeking help, they are often feeling a sense of urgency to find relief. PTSD can feel debilitating and impact functioning in everyday life. According to the American Psychiatric Association, an estimated one in 11 people will be diagnosed with PTSD in their lifetime. Women are twice as likely as men to experience symptoms of post-traumatic stress disorder. People who are challenged with PTSD can experience symptoms such as: Intense and disturbing thoughtsOverwhelming emotionsFlashbacksNightmaresNight terrorsFeelings of detachmentSadnessAngerIsolation PTSD in Veterans It is estimated that one in five service members coming home from Afghanistan and Iraq will suffer from post-traumatic stress disorder. They experience similar debilitating symptoms when they return home, plagued with graphic memories, images, nightmares, and overwhelming emotions. Since service members may come home to family and friends who have not been through similar experiences, those suffering from PTSD can feel isolated and misunderstood. It can be difficult to ask for or accept help, especially if they fear that people around them will not understand. Service members who struggle with PTSD may turn to drugs, alcohol, and even suicide in an attempt to escape their distress. PTSD and the Military Methods of traditional talk therapy can certainly be helpful, such as cognitive-behavioral therapy. However, there are innovative methods being developed and researched that can seemingly cut down on the healing time for clients and with very little distress for them in the counseling process. Evidence-Based Practice Being a relatively new and innovative treatment model, accelerated resolution therapy was federally recognized as an evidence-based treatment model by the National Registry of Evidence-Based Programs and Practices (NREPP) in 2015. The NREPP found ART to be an effective psychotherapy model in the treatment of: PTSDDepressionStressPersonal resilience In addition, NREPP classified ART to be a promising therapy technique for the symptoms of: PhobiaPanicAnxietySleep and wake disordersDisruptive and antisocial behaviorsGeneral functioning and well being Eye Movement One key element of accelerated resolution therapy is eye movement. Healing is targeted through the use of the clients rapid eye movement, similar to what they would experience while dreaming. During a session with an ART therapist, clients will be asked to follow the therapists hand back and forth laterally through their line of vision. As they are attending to this external stimuli, the movement of the therapists hand, it has been found that clients become more relaxed and more easily able to access internal stimuli, which would include distressing images of a traumatic event. As these images are accessed, ART focuses on helping clients heal the emotional and physical reactions associated with those experiences. Clients have been said to find relief in one to three sessions with this type of therapy. ART vs. EMDR Another type of therapy is called eye movement desensitization and reprocessing (EMDR). Although both of these effective treatment techniques involve eye movement to help facilitate visualization techniques, ART is different in that it focuses more directly on how negative images from trauma are connected with emotional and physical reactions. There are specific methods that a clinician will use in treatment sessions with clients based on their presenting issues, such as PTSD, sexual abuse, or addiction. ART is designed to be a brief model of therapy treatment. Clients have been known to experience relief from their distress in one session, rather than having to participate in several sessions before experiencing change. As more people find themselves challenged with debilitating symptoms that impact their lives and relationships, finding a treatment model that can offer symptom relief in a short period of time is invaluable. One Image at a Time Accelerated resolution therapy allows clients to focus on one presenting issue at a time. The treatment model is designed to help clients resolve that particular issue within one to three sessions. Once a client has effectively found healing and symptom relief around that image or issue, they can then move onto the next. For clients with trauma history, this can be comforting to know that there is a method and direction to treatment, rather than feeling as if all layers of their experience will need to be processed at once. Processing multiple layers of trauma can be quite overwhelming for clients and can even block people from continuing the healing process. Focusing on one thing at a time within ART can be motivating for clients as well, as they begin to feel free of the emotional pain surrounding their experiences with trauma. No Heavy Emotional Processing Some therapeutic treatment models, especially for the treatment of trauma and PTSD, require clients to revisit their traumatic experience, walking the therapist through their memory detail by painful detail. Not surprisingly, this can be uncomfortable for clients, as they are likely already playing their traumatic images over and over again in their mind on a daily basis. The idea of letting someone else into that deep, emotionally painful space can feel overwhelming and stop clients from continuing treatment. ART does require clients to pull up an image in their mind of the experience that is related to presenting symptoms, but the clients do not need to verbalize any of that experience to their therapists during sessions. As many people with PTSD replay traumatic events in their minds on a regular basis, the process of ART does not ask clients to do anything different than what they already do on their own. Their traumatic experience can remain private and the client is not required to be vulnerable with the therapist or share details of their experience if they are not ready. Healing can continue to happen through the process of ART regardless of how much the client is sharing about their trauma. Active and Engaging Even though clients are not required to share their trauma in a vulnerable way with their ART therapist, many find the process of accelerated resolution therapy to be an active and engaged process. As described by The Rosenzweig Center for Rapid Resolution, clients report finding comfort in their ART therapist being attuned and engaged with them through the treatment process. Although ART itself is not considered a talk-based therapy, it can still feel conversational in nature as the client and therapist walk through the chosen experience being selected for that particular session. The techniques of ART can also be used to enhance talk-based therapy techniques, helping clients to eliminate blocks to their treatment progress so they can continue processing and healing. Voluntary Imagery Replacement ART therapy includes a particular technique within the treatment model called voluntary imagery replacement (VIR) or voluntary memory replacement (VMR). This technique is similar to what some other treatment methods include and is referred to as re-scripting. Clients are asked to use their imaginations to envision alternative outcomes, becoming an engaged author to their experience. ART professionals note that it is important to remember that clients do recognize this new image is not the actual image from their memory. However, using their own creativity to change these images impacts the level of emotional and physical functioning. So, although the narrative of the event itself does not change, the impact of the event no longer has the same negative impact on their physical and emotional responses to the event. What Happens in a Session With so many therapeutic treatment techniques available, especially as one as new and innovative as ART, it can be helpful to walk through what to expect in a counseling session. Safe Space Accelerated resolution therapy professionals suggest that the process of this treatment model is simple. First, the therapist creates a safe space for the client. The idea of creating a safe haven within the therapy room is critical for any therapeutic intervention. A positive and meaningful rapport between client and therapist is known to be one of the leading predictors of client success in treatment. Therefore, creating a safe haven for the client is just as critical when beginning work in ART. Following the Therapists Hand Once the client feels relaxed and ready, they will be asked to visually follow the therapists hand back and forth laterally through their line of vision while silently calling up a particular memory that they want to address or heal. It is suggested that this process lasts between 30 seconds and 10 minutes. As the client is engaging in this process of eye movement, the ART therapist is taking time to check in with their client to process any physical and emotional reactions. Changing the Script It is important for the therapist to effectively tune in and track what is happening for their client during this time as the client is beginning to relax. As they relax, the client becomes better able to access memory and create or select more positive changes in the images around that event. As the ART therapist continues to gently guide the client through this process, they are encouraged and empowered to begin making any selected changes they wish to the image they have recalled. During this time, the client is able to make changes to the image itself or to any other information surrounding that image. These changes could involve other sensory information such as sounds and smells. The ART therapist continues to stay attuned and engaged with the client as they gently transition them out of that image and back into the present reality of the therapy room. Path to Healing As clients continue to work through these images, they can begin to find relief in one to five sessions. One image is focused on at a time, which is an important part of this treatment model. As clients find healing and relief around one image they can then move on to the next and go from there. Clients have reported that, even if they dont feel very different after the first session, they begin to feel a noticeable change in their emotional and physical responses to the event shortly after, such as the second or third sessions. Considering the complexities of traumatic experiences and the variety of symptoms experienced with PTSD, this model of therapy is notably brief while still being effective. During the process of healing, clients participating in ART therapy are still able to recall the events they have been working on. However, their physical and emotional responses to the recall of that traumatic event will no longer be present for them as they continue to engage in this process. A phrase mentioned within the ART community is, Keep the knowledge, lose the pain. It is important to note that actual memories are not being replaced in this model, nor is there any hypnosis involved in this treatment method. Where to Find an ART Therapist Accelerated resolution therapy is a new and innovative treatment model, declared an effective and evidence-based treatment model in 2015. As the ART movement continues to grow, clinicians from all over the world are being trained in this method. Developer of ART, Laney Rosenzweig, LMFT, founded the Rosenzweig Center for Rapid Recovery based in Florida. You can find a directory of trained and qualified ART therapists through their website. Clinicians interested in training in ART can find information about upcoming seminars, workshops, and training intensives through the centers website as well. How EMDR Can Treat Panic Disorder

Business Goes With The Mean Data Analysis - 1335 Words

In this case, the business goes with the mean data analysis; the customers coming in the hotel will be within the range of 20kms. If they go with median data analysis, range will only be with in 20 and 25kms. And if the go with the mode data analysis, the range could be anything from 5 to 40kms Identify and review a range of external sources of information (such as relevant books and articles, information on the internet, benchmarking studies) in order to conduct a qualitative analysis of comparative market data for your business. Write up the results of your qualitative analysis. External sources of information Results of reviewing these sources Book name 1:Astrid N. (2004) Coffee, tea, Chocolate and the Brain, published by Taylor †¦show more content†¦Identify and describe the company’s competitors, as well as analyzing relevant information such as market share or number of customers in relation to your chosen business. Discuss and report on the opportunities and threats that this creates? Company names Products offered by these companies Market share of these companies Westend Market Hotel Tab, Night club, Bistro, Accommodation, Function room hire, pokies, public events 49% The Ashley Hotel Tab, Gaming, Bistro, Alcohol 21% Palms Hotel Bingo, Pokies, Alcohol 14% Braybrook Hotel Pokies, Buffet, Alcohol 16% Opportunities and threats that this creates: Franchising: it is a relationship in which the owner of the business allocates to independent individuals the right to market and deal out the goods or service, and by using the business’s name for a fixed period of time. . This model can be used to describe a number of business models, such as McDonalds, KFC, etc. But there are other models which are rely on franchise relationships. These include: Manufacturer-Retailer: In this type, the retailer who has the franchisee of the product tries to sell the product or service directly to the customersShow MoreRelatedMotion Picture Industry Essay1740 Words   |  7 PagesPicture Industry Data is important and a main-stream form of communication throughout the world; however, without being able to represent the data in a format that is easily understandable, then the data will not be as useful. Anderson, Sweeney, Williams, Camm, Cochran (2015) define data as â€Å"the facts and figures collected, analyzed, and summarized for presentation and interpretation† (p. 5). It is important for statisticians, mangers, and employees to collect and present statistical data in accurateRead MoreBtec Business, L3, Unit 7, D1 Essay1220 Words   |  5 Pagesbreak-even analysis in estimating budgeted activity levels for a selected organisation. Break – Even Analysis Break even analysis is reliable as it is made from the budget and it gives a financial structure to the business. The data used for break-even, the business try to make the data as accurate as possible. They make this data depending on the previous year’s financial report. That’s why break-even is reliable to estimate current year’s results. In a short run, break-even analysis can be accurateRead MoreSpreadsheet : The First Commercial Spreadsheet Program867 Words   |  4 Pagesmany companies and organisations use a lot of spreadsheet models to manipulate complex data/ problems as it contains accurate data. Manipulation of data can be applied to non-numeric data. It is a powerful and versatile business tool that can store and provide the user with valuable information. Spreadsheet also help us to support decision making e.g. analysis of data, goal seeking, scenarios, regression and data mining. For example, a sandwich shop would use spreadsheet models to keep track of theirRead MoreA Report on Process Modeling for Web-Based Customer Relationship Management System1088 Words   |  4 Pagesis a business requirement analysis stage in a software development life cycle. This report describes about the problem in given case study and it gives the decision making for that problems. 1.1 Customer relationship management Customer relationship management (CRM) is a most essential part in the modern business world. Customer relationship management may be a process or methodology. The CRM concerns understand about customer’s needs and their behaviors in order to grow the business to leadingRead MoreIs 3110 Lab 7935 Words   |  4 Pagesone and determining what the potential impact might be on your business. In order to generate a professional and sound BCP, you have to understand the degree of the potential loss, which could occur. Some of the factors you could identify are: Financial loss, loss of customer confidence, damage to your reputation, data loss, to name a few. Having a good grasp and understanding of the potential incident and its impact on your business will help you generate a solid BCP. One of the pillars, in whichRead MoreDecision Support Systems ( Dss )1056 Words   |  5 PagesDecision support systems (DSS) is an umbrella term that describes an interactive, computerised system that supports decision making in an organisation using data and models (Druzdzel Flynn 2002; Sharda et al. 2014). Whereas knowledge-based decision support system (KB-DSS) is generally a rule based system used to provide expertise. (Sharda et al. 2014). It is essentially an expert system but it may also use documented knowledge as a source of expertise (Sharda et al. 2014). KB-DSS has well definedRead MoreA Global Leader Of Consumer Transaction Technologies Essay1331 Words   |  6 Pagescompany makes nearly 550 million transactions possible daily. This company’s motto is to help their customers respond to the demand for fast, easy and convenient transactions with intuitive self-service and assisted-service options. But what they do goes beyond niche technologies or markets. Their solutions help businesses around the world increase revenue, build loyalty, reach new customers, and lower their costs of operations. By continually learning about—and pioneering—how the world interacts andRead More2.1.1.1 The volume of data Volume is often regarded as the primary attribute of big data. With that900 Words   |  4 Pages2.1.1.1 The volume of data Volume is often regarded as the primary attribute of big data. With that in mind, a large number of people define big data in terabytes—sometimes petabytes, but big data can also be quantified by counting records, transactions, tables, or files (Russom, 2011). Volume refers to the mass quantities of data that organizations are trying to harness to improve decision-making across the enterprise (Schroeck et al., 2012). The volumes of data have continued to increase at anRead MoreRisks And Risks Of A Investment Return1124 Words   |  5 Pagestheir money in the stock market. However, when they spend their money in the market, they will come across the risk of the securities. In other words, investors receive the higher investment return which means they will come across the greater risk too. According to Reilly and Brown, risk means the uncertainty of future outcomes. For investors, higher risks might cause their lost more money. The investors have to choose the correct method o f their return and risk. There are two types of risks – specificRead MoreThe Information Age: Data Mining Essay1087 Words   |  5 Pagesinformation age, a lot of data is generated from everywhere. Together with the incoming of information technology tools, so all the data are collected and waiting to be converted to information and knowledge. Therefore, the information industry provides useful information to many areas such as market analysis, science, decision-making and customer relationship. Data mining is the integration between analytical techniques and database system. Previously, it has only database query, data processing or transactional

Battle between Civilization and Savagery in Lord of the...

Battle between Civilization and Savagery in Lord of the Flies Civilization today has become almost completely reliant on technology. Almost the entire planet is connected by phone lines, roads, air travel, or the internet. People converse with others thousands of miles away through modern connections, watch live broadcasts of news in foreign lands, or talk on wireless phones by use of satellites. We are governed by laws designed to protect us. We live in heated homes with fresh water and electricity. We commute to work by car or mass transit. We live by rules, values, and ideals that keep the peace. Our world is organized, convenient, and technologically advanced. What would happen if suddenly our civilization†¦show more content†¦Second, the conch is also a symbol of value. When Ralph first finds the conch, Piggy tells him that it is valuable. This emphasis on value is not natural in uncivilized creatures. The idea of value is created by society. The conch represents the value placed on things that are rare hard to obtain in our society, much like a fancy car or an old work of art. With an emphasis on value comes feelings of jealousy and envy. This is only natural and can be seen when Jack decides that the conch should only be used by those he sees as worthy. For good or bad, the conch becomes the only tie to the concept of matieral value that they boys have left. Finally, the conch is also a symbol of power. This is because whoever holds it becomes the only person who may speak during the meetings. In this context, holding the conch represents having authority. Whoever holds the conch then has the authority to speak and all others must wait until it is their turn to hold the conch. This is much like standing at the podium or holding the microphone in a civilized society. Here the conch also represents the organization found in a democratic government and the idea of raising ones hand in school. Both a democratic government and a school are organizations that rely on the concept of everyone having a voice and a chance to express themselves. The conch is the only link left toShow MoreRelatedMichelle Duan Mrs. MJ English 10 H, per. 3 13 February 2014 A Symbol’s Worth a Thousand1500 Words   |  6 Pagesnature of the symbols found in William Golding’s Lord of the Flies. As a group of boys stranded on an island struggle to survive without adult supervision to maintain order, Golding uses a variety of objects to convey their descent from civilization into brutality, violence, and savagery. Of these objects, three hold particular significance. In Lord of the Flies, Golding uses the conch, the signal fire, and the Lord of the Flies to symbolize civilization, hope for rescue, and inner evil while conveyingRead MoreStruggle Between Civilization and Savagery in Lord of the Flies by William Golding919 Words   |  4 PagesThroughout the novel Lord of the Flies by William Golding there is a constant struggle between civilization and savagery, however, in the novel, savagery prevails. This is evident in the constant struggle between Jack and Ralph and ultimate success by Jack whom represents savagery. Fear is an example of how savagery prevails over civilization, Jack used fear to overtake control from Ralph. Another example is the boys inability to stand up for themselves and for each other, meaning,Read MoreLord of the Flies by William Golding932 Words   |  4 Pages For this essay, I will be discussing two particular themes from a novel called Lord of the Flies by William Golding. Lord of the Flies was written in 1954 after World War II. Ruler of the Flies is a purposeful anecdote about something that many readers can’t really describe. Individuals cant choose precisely what. Its either about the inalienable underhanded of man, or mental battle, or religion, or personal inclination, or the creators emotions on war; however William Golding was in the NavyRead MoreWilliam Golding s Lord Of The Flies1603 Words   |  7 Pagesare techniques often used by authors to portray in-depth analyses of major characters, storylines, and central themes, which take place in a story. These analyses help readers understand a message the author is trying to convey. In the novel Lord of the Flies, William Golding uses different literary devices in order to de monstrate the boys’ struggle against the lack of society and law on the island, as well as the consequences that have transpired due to this loss. This conflict is evident throughRead MoreEssay on How Lord of the Flies Related to Aspects of Human Nature1397 Words   |  6 Pagesnovel Lord of the Flies not only provides a profound insight into human nature but also does so in a way that is remarkable for its use of shock and horror. Golding presents aspects of human nature as themes in the book. It alerts us to our potential to descend from order to chaos, good to evil, civilization to savagery. They are explored through how innate evil can be brought out in certain situations, the dangers in not addressing our own fears and the battle between civilization and anarchyRead MoreLord of the Flies was created by William Golding, an English novelist that studied at Oxford where1500 Words   |  6 Pages Lord of the Flies was created by William Golding, an English novelist that studied at Oxford where the experience allowed for his writing to grow and develop. The main purpose of the novel was to portray the struggle of a group of boys in the era of war. It is aligned off of personal experiences the author had in World War II, the severity and insanity allowed him to have a corrupted view on the world and everything inside of it (â€Å"William Golding,† N.P.). Much like Oxford, being apart of theRead MoreLord of the Flies- Evil948 Words   |  4 Pagesdefines it? Mr. Golding believes that evil is intrinsic to human beings; he shows some examples of evil in the Lord of the Flies, in a form called bullying. Bullying increases the bully’s self-confidence, while it lowers the victim’s, in this case Jack harass Piggy to increase his self-assurance. Humans have two desires that conflict with each other: to live by civilization and to live by savagery. The civilize d impulse we have is to live peacefully, morally, and by rules and laws. The savage characteristicRead MoreEssay about Lord of the Flies: Civilization vs Savagery775 Words   |  4 Pageschoose to live by one or the other depending on how we feel is the correct way to live. In this allegorical novel, William Golding represents the transformation from civilization to savagery in the conflict between two of the main characters: Ralph who represents law and order and Jack who represents savagery and violence. Lord of the Flies has remained a very controversial novel to this day with its startling, brutal, and truthful picture of the human nature. In the beginning, human influence was startingRead More Lord of the Flies by William Golding Essay1112 Words   |  5 PagesLord of the Flies by William Golding Lord of the flies was written by William Golding in 1954. It is an enthralling, book that explores the concept of the behaviour of man when he is exempt from society. Golding achieves this by stranding a group of British schoolboys on a secluded island, in the midst of a war. Throughout this period the boys evolve from being civilised and let savagery take over. This book is well written and effectively presents the theme of the story: the evil thatRead MoreThe Lord of the Flies by William Golding1257 Words   |  6 Pages LOTF: Good vs Evil Change is inevitable. In Lord of the Flies, three of the characters represent how the human condition can change. Each character handles situations and conditions differently. Their conflicts challenge their existence and eventually lead to their demise. In Lord of the Flies, during the wage of war between good and evil, the true face of everyone is revealed, whether it be Roger, Simon, or the children as a group. There are a lot of ways that good and evil are represented

Chromosomal Disorder Free Essays

1. Turner syndrome: (X instead of XX or XY). In Turner syndrome, female sexual characteristics are present but underdeveloped. We will write a custom essay sample on Chromosomal Disorder or any similar topic only for you Order Now People with Turner syndrome often have a short stature, low hairline, abnormal eye features and bone development and a â€Å"caved-in† appearance to the chest. Description: Turner syndrome (TS) occurs when one of the two X chromosomes in females is either missing or incomplete. The most common symptoms are short stature and gonadal dysgenesis, which can cause incomplete sexual development and ovarian failure and infertility. As of right now, there is no known cause of TS. 2. Klinefelter’s syndrome (XXY): Description Men with Klinefelter syndrome are usually sterile, and tend to have longer arms and legs and to be taller than their peers. Boys with the syndrome are often shy and quiet, and have a higher incidence of speech delay and dyslexia. During puberty, without testosterone treatment, some of them may develop gynecomastia. 3. Patau Syndrome: also called D-Syndrome or trisomy-13. Symptoms are somewhat similar to those of trisomy-18, but they do not have the characteristic hand shape Description: Trisomy 13, also called Patau syndrome, is a disorder in which an individual has three copies of genetic material from chromosome 13, rather than two. It can occur in three forms: Trisomy 13, which has a third chromosome 13 in all cells; Trisomy 13 mosaicism, which has a third chromosome 13 in some cells; and partial Trisomy, which has the presence of part of an extra chromosome 13 in the cells. 4. Down syndrome: Description usually is caused by an extra copy of chromosome 21 (trisomy 21). Characteristics include decreased muscle tone, stockier build, asymmetrical skull, slanting eyes and mild to moderate mental retardation. 5. Edwards syndrome: Description which is the second-most-common trisomy; Down syndrome is the most common. It is a trisomy of chromosome 18. Symptoms include mental and motor retardation and numerous congenital anomalies causing serious health problems. Ninety percent die in infancy; however, those that live past their first birthday usually are quite healthy thereafter. Some symptoms include clenched hands, feet with a rounded bottom, mental deficiency, underdeveloped fingernails, and an unusual shaped chest. 6. Cat eye syndrome: Description: For individuals with cat eye syndrome, the short arm (known as 22p) and a small region of the long arm (22q) of chromosome 22 are present three or four times, rather than twice. Characteristic features of the disorder include mild growth delays before birth, mild mental deficiency, and malformations of the skill and facial region, the heart, the kidneys, and/or the anal region. 7. Williams Syndrome: Description: Williams syndrome is caused by a deletion of genetic material from portions of the long arm of chromosome 7, a region that consists of more than 25 genes. Researchers have identified a few of the specific genes related to Williams syndrome, but the relationship between most of the genes in the deleted region and the symptoms of Williams syndrome is still unknown. The most common symptoms of Williams syndrome are mental retardation, heart defects, and unusual facial features ,small upturned nose, wide mouth, full lips, small chin, widely spaced teeth . Angelman syndrome: Description: Angelman syndrome (AS) is an example of genomic imprinting, where the deletion or inactivation of genes on the maternally inherited chromosome 15 causes the paternal copy, which may be of normal sequence, to be imprinted and silenced. AS is characterized by intellectual and developmental delays, sleep disturbances, seizures, and jerky movements, but also frequent laughte r or smiling and usually have a happy demeanor How to cite Chromosomal Disorder, Papers

Doris Martinez (772 words) Essay Example For Students

Doris Martinez (772 words) Essay Doris Martinez Joel Shields English 101 8 October2017 The life of Marilyn MonroeMarilyn Monroe converted from an innocent child to an infinite female Hollywood legend. She brought herself up from a detrimental background, she was not born into it a stable home life. Struggling between marriage and her career, she then became Americas daunting female model/actress, even becoming Playboys Sweetheart of the month. Finally, she worked her way up to establishing her own production company. It was after her perplexed death she became an ultimate female icon. Marilyn Monroe was born to Gladys Monroe in Los Angeles, CA on the 1st of June 1926 as Norma Jeanne Mortenson. Norma Jeannes father is believed to have left her mother before she was born, she never met him. On June 13, 1926, she placed Norma Jeane with Albert Wayne and Ida Bolender, a religious couple, who lived at 459 East Rhode Island Street in Hawthorne, California. She paid them $5 a week to look after her daughter. (book number and page) Normas childhood was spent in foster homes due to her mothers mental illness until she turned 12 when she returned to live with her mother. Unfortunately, due to her mothers instability, Grace McKee Goddard, her mothers best friend took her in but, at the age of 16, Norma was told that she could no longer stay with Grace and her husband. She was forced to either go back to an orphanage or get married. She married her neighbor named James Dougherty in 1946, who was a marine. After her marriage ended in 1946. Marilyn then went on to marry Joe DiMaggio in 1954, which ended in divorce after only 9 months since she was dealing with her own issues, (drugs, drinking, and mental issues). Finally, in 1956 she married playwriter, Arthur Miller. That marriage was ruined by her mental illnesses and continued drug use and drinking, they divorced in 1961. Marilyn was also rumored to have many relationships throughout her life. President John. F Kennedy, and his brother Robert, singer Frank Sinatra, Actor Yul Brynner were rumored to having affairs with Marilyn in the 1960s Marilyn also dated actor/singer Yves Montand in 1960s. Marilyn dated screenwriter Jose Bolanos from 1959 1962. A biography of Marilyn Monroe entitled Marilyn Monroe: My Little Secret suggest that Marilyn even had a sexual relationship with Joan Crawford. Monroe was dating mafia boss Sam Giancana, when she died. She was discovered when she took a job at the Radio Plane Munitions factory in Burbank, Ca in 1944, by photographer David Conover. Conover was shooting pictures of female contribution for war efforts at the factory, he was stunned by Norma Jeans beauty. She quickly became a successful model. Norma Jean wanted to be an actress, therefore, she attends drama classes. In 1946 Norma Jean was signed by Twentieth Century Fox, where she was paid 125 weekly. Norma Jean was 27 at the time she transformed herself into Marilyn Monroe. In 1947, she played in, her first of many, small roles, The Shocking Miss Pilgrim. It was not until 1953 when Marilyn became Hugh Hefners Playboy Sweetheart of the month. From Marilyn: Her Life in Her Own Words: It was in the 1953 film Niagara, where Monroe became a full-blown, Hollywood star. In 1956 she founded Marilyn Monroe Productions. She received a Golden Globe Award for Some Like It Hot (1959). Finally, August 5, 1962, Marilyn was found dead in her bed of a drug overdose. It is believed by some that it was suicide, while others believe it was an accident. One thing is certain the once country Norma Jean, who came from a difficult childhood, turned herself into an American icon.As Marilyn Monroe wanted to be an artist and an actress with virtue. She did not care about the money, she just wanted to be wonderful. The reality is Marylin Monroe is unforgettable. .u17fd790a6cd31951900564ccb0185d7c , .u17fd790a6cd31951900564ccb0185d7c .postImageUrl , .u17fd790a6cd31951900564ccb0185d7c .centered-text-area { min-height: 80px; position: relative; } .u17fd790a6cd31951900564ccb0185d7c , .u17fd790a6cd31951900564ccb0185d7c:hover , .u17fd790a6cd31951900564ccb0185d7c:visited , .u17fd790a6cd31951900564ccb0185d7c:active { border:0!important; } .u17fd790a6cd31951900564ccb0185d7c .clearfix:after { content: ""; display: table; clear: both; } .u17fd790a6cd31951900564ccb0185d7c { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u17fd790a6cd31951900564ccb0185d7c:active , .u17fd790a6cd31951900564ccb0185d7c:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u17fd790a6cd31951900564ccb0185d7c .centered-text-area { width: 100%; position: relative ; } .u17fd790a6cd31951900564ccb0185d7c .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u17fd790a6cd31951900564ccb0185d7c .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u17fd790a6cd31951900564ccb0185d7c .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u17fd790a6cd31951900564ccb0185d7c:hover .ctaButton { background-color: #34495E!important; } .u17fd790a6cd31951900564ccb0185d7c .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u17fd790a6cd31951900564ccb0185d7c .u17fd790a6cd31951900564ccb0185d7c-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u17fd790a6cd31951900564ccb0185d7c:after { content: ""; display: block; clear: both; } READ: King Lear Persuasive Essay Works Cited Izadi, E. (2017).Marilyn Monroe helped launch Hugh Hefners career. but they never even met. Washington: WP Company LLC d/b/a The Washington Post. Retrieved fromhttps://search-proquest-com.ezproxy2.apus.edu/docview/1944104435?accountid=8289 Donnelley, Paul. Marilyn Monroe, Pocket Essentials, 2001. ProQuest Central, https://ebookcentral-proquest-com.ezproxy2.apus.edu/lib/apus/detail.action?docID=3386002. Historical Dictionary of the 1950s, Greenwood Publishing Group, Incorporated, 2000. ProQuest Ebook Central, https://ebookcentral-proquest-com.ezproxy2.apus.edu/lib/apus/detail.action?docID=3000668.

Eng 4B Final Review Flashcard

Eng 4B Final Review

The Ancient Japanese Ninja Essays

The Ancient Japanese Ninja Essays The Ancient Japanese Ninja Essay The Ancient Japanese Ninja Essay The ancient Japanese ninja Ninja or Shinobi were known as Samurai spies of ancient Japan. They developed the skills of Ninjutsu (which means the â€Å"art of stealth†). The ninja were an elite group or secret brotherhood that used their special techniques for sabotage, infiltration and assassination, as well as open combat. Origins Historians believe that the first ninjas appeared around the 14th century however it was not until the 15th century that they were specially trained as spies and assassins. The word Shinobi appeared around this time and means a secretive group of agents. The normal Samurai soldier fought with honour where they were expected to fight openly and face their enemy, however the Ninja had more secretive roles including spy, scout, surprise attacker and agitator. Records tell of ninja who retreated to the mountains near Iga and Koga of central japan to meditate and train. Their groups were small and formed around families and villages. Roles The ninja were stealth soldiers whose roles were of espionage and sabotage. In battle the ninja could also be used to cause confusion amongst the enemy. Some ninja had similar roles to the samurai but they were more influential. As more and more enemy lords were killed by ninja assassins, fear of the ninja spread across the country. Espionage The main role was espionage. They used disguises and found out information on the enemy eg building layouts, terrain and passwords and codes. Sabotage Arson was the ninja’s main form of sabotage for example in 1558 Yoshitaka employed a team of ninja to set fire to Sawyama Castle then Yoshitaka’s army later over-ran the castle. Tactics The ninja did not always work alone, some ninjas worked in teams to do techniques, for example in order to scale a wall, a group of ninja may carry each other on their backs or provide a human platform to assist a individual ninja in reaching greater heights he cant make by himself. Ninjas also used deception, where the attackers (the ninja’s side) made the army dress up in exactly the same clothes as the defenders, causing major confusion. Disguises The use of disguises is common to the ninjas. Disguises came in the form of priests, entertainers, fortune tellers, merchants, ronin (a samurai) and monks Clothing Their clothing was chosen to blend in eg they sometimes dressed as peasants. Many historians believe that the ninja wore black robes, possibly with red to hide bloodstains. Or at night they wore navy blue. Clothing was similar to the samurai, but anything loose (eg leggings) were tucked into pants or secured with belts so they wouldn’t catch on anything. They also had a piece of cloth (a tenugui) used to cover their face, used as a belt or to help climb. Ninjas were also known to have armour designed to be worn under their clothing. Shin arm guards with metal-reinforced hoods are also thought to be worn. Tools Tools were used to help climb and infiltrate enemy castles etc they included * Ropes and grappling hooks were common and tied to the belt. * collapsible ladders with spikes at both ends to anchor the ladder. * Spiked or hooked climbing gear worn on hands feet also doubled as weapons. * Chisels, hammers, drills picks * Inflatable skins breathing tubes allowed the ninja to stay underwater. Weaponry Short swords and daggers were used however the katana was the popular weapon carried on the back. It had several uses eg the scabbard could be extended out of the sword and used as a probing instrument. At the top of the katana, dust or pepper could be placed so when the sword was drawn, this powder would fly into the enemy’s eyes then the ninja could stab him. Darts, spikes, knives, chain sickle and sharp star-shaped discs were also used. Food As a ninja is a special type of samurai they would eat the same food as other samurai for example, rice, fresh vegetables like cabbage, root vegetables and fish.

Business Combnations Essay Example | Topics and Well Written Essays - 1000 words

Business Combnations - Essay Example Most of the mergers or acquisitions of LVMH happen to expand the company and to cross the geographical boundaries. A company interested to acquire another company has to look into every aspect of the functioning of the company. A company will have many departments and audit should be done on every departments accounts and then valuate the viability of merger of acquisition. After audit if it is found that functioning of all the departments are healthy and profitable then a memorandum is made between the companies. Mergers can take place only when there are healthy relations between both the companies. Mergers also depend on the percentage of shares acquired of the firm. If the company to be acquired has good standing in the market, high share value and high points in the share market then we can say that a company is worth to be acquired or suitable for acquisition. Merger or acquisition sure has its impact on the employees and shareholders who are the unforeseen assets of the company. It is well known that any merger will have its pro's and con's. Some mergers happen for profit and some not to incur losses. Employees may or may not be benefited by the merger. The new management may not provide all the facilities unlike the earlier owner. The new company will definitely try to curb miscellaneous expenses and cut management costs. In order to cut costs they may reduce number of employees working per department. After merger employees may be asked to change their shift timings, move from one de partment to another etc. employees need to co-operate with the new management.Mergers may also have its negative effects on the employees and marketing strategies then the relation between the management should be positive enough so that there is no misunderstanding between the employer and the employee. After acquisition the new company will have their own planning strategies that might be entirely different and the employees need to co-operate and understand with new working policies and targets of the new company. One of the frequent reasons of merger (acquisition) failure is poor management and insufficient and poor management of financing comes second. For starting or relocating or expanding a business sufficient capital is required. Having good financing is not enough in attaining profits; proper knowledge and planning are required to manage it well. These help in strengthening the management of financing and avoid common mistakes like miscalculating or underestimating the cost. Venture capitalists are the most common source of equity funding. Venture capitalists may be institutional risk takers, financial institutions, wealthy persons, etc. and most of them specialize in industries. Venture capitalists are risk takers and show interest only in three to five year old companies that result in more than average profits. LVMH intensified the challenge of global integration and is showing high-end results, impact on the part of economical evolutions on nations mainly on cities and individual person's life standard. Because of the globalization and LVMH the technologies are exchanged. Globalization is having tremendous impact on cities. Cities are transforming into great industrial belts. As the industries grow there will be visible impact on the economy. Job opportunities grow and innumerable colonies are developed. The growth is multi-fold and the technology exchange migration takes place. People of

International law Research Paper Example | Topics and Well Written Essays - 2000 words

International law - Research Paper Example However, the term genocide was not formed until 1944. Literature has evidenced that genocide is any act committed with the intention to destroy completely or in partiality, a racial, an ethnic, a religious, or a national group. The recorded genocides include 1904 in Namibia, 1915 in Armenia, 1932 in Ukraine, the 1944 Holocaust, 1975 in Cambodia, 1982 in Guatemala, 1994 Rwandese genocide, and the 1995 Bosnian genocide. This resulted in the signing of an international treaty to form the International Criminal Court that has the mandate to prosecute crimes of genocide. Under the international law, genocide is considered as a crime. In this perspective, the paper will discuss the genocide with reference to international law. The effort to define genocide dates back to 18th century. According to Scott, various conventions tried to give formal statement of war crimes as well as laws of war. The Geneva Conventions were a series of international treaties concluded in Geneva between 1864 and 1949 with an aim of restructuring the impact of war on civilians, prisoners, and soldiers. In 1864, the international negotiations resulted in the Convention for the Amelioration of the Wounded in time of War. It stipulated that: immunity from capture as well as destruction of all establishments from the treatment of wounded soldiers, unbiased treatment and reception of all combatants, and protection of civilians giving aid to the wounded, in addition to recognizing the Red Cross symbol as a means establishing people and equipment covered by the agreement. In 1864 the convention was ratified by all major European powers. It was amended and extended by the second Geneva Convention in 1906. The provisions were applied to t he maritime conflict via the Hague conventions of 1899 to 1907. They are the first multilateral treaties to address warfare conducts based on the Lieber Code. The codified law stipulated regulations, for example, in protection of civilians and

International Financial Reporting Standards Impact

International Financial Reporting Standards Impact 1. BACKGROUND OF THE STUDY The adoption rate of International Financial Reporting Standards (IFRS) has been on the ascendency since its inception in 1973. The number of countries that have adopted IFRS as a basis for financial reporting are more than hundred with others agreeing to converge or adopt it by 2011 (Deloitte, 2008). The need for transparency and comparability of financial statement across countries has increased the desire to adopt a single set of global financial accounting reporting standards (IFRS Insight: IASplus, 2008). Trade liberalisation and globalisation of capital markets have given further impetus towards the adoption of IFRS as a single set of high quality globally accepted accounting and reporting standards as against national accounting standards. The contributions of high quality financial reporting systems in national jurisdictions that experience high economic growth, stable fiscal and monetary systems and access to international investment funds cannot be overemphasised (Wong, 200 4). The need to ensure high quality reporting has forced both developed and emerging capital markets to adopt or converge with IFRS, their national accounting standards. Emerging Capital Markets (ECMs), which constitute a significant part of the global financial market, compete with their developed counterparts for investment funds due to globalization of businesses and integration of capital markets. This exposes the financial reporting information in ECMs to international scrutiny. It has been suggested that ECMs ‘lag behind the advanced capital markets in terms of adequacy and reliability of information disclose in annual reports (Ali et al, 2004). The perceived low quality of financial reporting inhibits the growth of ECMs due to its ability to erode the confidence of investors (Enthoven, 1981) and can lower productivity in the economy. Sutton (1997) asserts that a high level of accountability and transparency in corporate dealings increases the confidence of investors in capital markets. It is imperative that high quality financial reporting must be provided to investors to reduce moral hazards as a result of the agency problems created by the separation of ownership from control. Bekaoui (1999) suggests that the adoption of IFRS is the only way to trust accounting information from developing countries. Some ECMs have adopted IFRS to portray that they are following internationally best practice of financial reporting and to take advantage of the worlds investment funds. However, IFRS which is believed to have been developed for the advanced capital markets may not be an ideal accounting standards for ECMs which are made up of small, medium and sometimes family-owned businesses. Nobes (1998) suggests that due to the nature and characteristics of firms in developing/emerging economies, â€Å"the full panoply of the rules of IASs may seem unduly complex; and the resulting financial statements unduly detailed and expensive†. Choi and Mueller (1984) and Belkaoui (2004) support the suggestion of Nobes (1998). In spite of these challenges many countries in emerging economies have allowed their companies to report on the basis of IFRS either mandatorily or volu ntarily. Mandatory adoption of IAS/IFRS have the tendency to deprive firms the opportunity to choose accounting standards that reflect their information needs and the nature of their business. It has been suggested that IFRS adoption is costly but beneficial and at the same time poses challenges to companies (e.g.El-Gazzar, 1999; Jermakowicz, 2004; Barth et al, 2005; Daske and Gebhardt, 2006; Jermakowicz and Gornik-Tomaszewski, 2006; Daske et al, 2007; Tyrall et al, 2007; Hail et al, 2009). Ball (2001) suggests that companies will experience the impact of IFRS adoption differently due to different regulatory framework and institutional factors across different countries. Research into the costs, benefits and challenges of IFRS adoption to ECMs in sub-Saharan Africa, is non-existent to the best knowledge of this researcher. The adoption of IFRS in Ghana might challenge its neighbours to also follow suit. Therefore, research into the cost and benefits and implementation challenges is needed to guide other countries on the decision whether to adopt IFRS for financial reporting. It is in this light that this study is being undertaken. 1.2 STATEMENT OF THE PROBLEM The adoption rate of IAS/IFRS has been on the ascendency since its inception in 1973 (IASB.org, 2004). Capital Markets have been forced to adopt IAS/IFRS by the World Bank, International Organisation of Securities Commissions (IOSCO) and World Trade Organisation (WTO), THE European Union (EU) and the International federation of Accountants (IFAC) due to globalization of trade and liberalization of capital markets. The Institute of Chartered Accountants (Ghana) is the body responsible for the issuance of accounting standards in Ghana. Prior to the mandatory adoption of IAS/IFRS 2007, two sets of accounting standards were in use in Ghana; the Ghana Accounting Standards (GAS) issued by the Ghana National Accounting Standards Board(GNASB), and the International Accounting Standards (IAS/IFRS). The Ghana Accounting Standards were adaptation of the International Accounting Standards. Ghana, being a member of the International Federation of Accountants (IFAC), allowed companies to issue financial report based on International Accounting Standards. The credibility and quality of financial reporting in emerging capital market have not been able to match the high standards of reporting in developed capital market and Ghana, an emerging economy, is no exception. In 2004, the World Bank commissioned a report into accounting and auditing in Ghana. The report painted a gloomy picture of financial reporting and auditing in Ghana. The World Bank (ROSC-Ghana, 2004, p1) noted that; â€Å"The accounting and auditing practices in Ghana suffer from institutional weaknesses in regulation, compliance and enforcement of standards and rules. Various weaknesses were indentified in the laws and regulation governing financial reporting†. The report observed an inadequate compliance with the Ghana Accounting Standards and also made mention of the fact that some companies claim to comply with the International Accounting Standards in their annual reports but fail to do so. Consequently, the ICA (GHANA) in January 2007 adopted IFRS as the basis for financial reporting for all listed companies beginning 31st December 2007 due to the recommendation made by the World Bank. However, first time IAS/IFRS reporting date for all companies was extended to 2008 due to companies unpreparedness to migrate from Ghana Accounting standards to international standards. In spite of the world-wide acceptance of IAS/IFRS for financial reporting, the jury is still out about the costs and benefits of IFRS implementation to listed companies that adopt IAS/IFRS either voluntary or mandatory (e.g. El-Gazzar et al, 1990; Jermakowicz, 2004; Hoogendoorn, 2006; Jermakowicz and Gomik-Tomaszewski, 2006; Daske et al, 2007; Hail et al, 2009). Generally, little empirical evidence has been provided on whether the costs of IAS/IFRS adoption outweigh the benefits. Specifically, literature on the costs and benefits of IAS/IFRS implementation to listed companies in ECMs in Africa is limited. This study seeks to investigate out the costs and benefits of IFRS adoption to listed companies in Ghana. 1.3 RESEARCH OBJECTIVES AND RESEARCH QUESTIONS Ghana, in a bid to develop its capital markets, established the Ghana Stock Exchange (GSE) in 1989. The GSE became operational in 1990. Currently, there are thirty-four listed companies in Ghana. The adoption of IFRS for financial reporting became mandatory in Ghana after its official launch in 2007 by the Minister of Finance and Economic Planning. However, listed companies were given additional year to fully implement IFRS. These events provide the opportunity to access the impact of IFRS adoption on listed companies in Ghana. The main purpose of the study is to access the costs and benefits of IFRS adoption to listed companies. Primarily, the issue focused on are costs, benefits, and implementation challenges to listed companies in Ghana. The specific research questions pursued in this study are follows: What are the benefits of IFRS adoption to companies in Ghana? What are the costs of implementing IFRS? What challenges do companies in emerging capital markets face as results of IFRS adoption? What are the effects of retrospective application of IFRS (IFRS1) on financial prior periods financial statements? 1.4 METHODOLOGY Two research techniques are used to collect data on the cost, benefits and IFRS implementation challenges. Interviews and content analysis of some selected annual reports are used in this study. The interviews are used to ascertain the opinions on the costs, benefits and implementation challenges of IFRS adoption from ( ) finance directors/chief finance officers/ finance managers whose firms are all listed in Ghana. Interviews were conducted with the Big 4+1 auditing firms in Ghana. These audit firms provide audit and other accountancy services to about 95 % of the listed companies in Ghana. The interviews with auditors were necessary to seek additional insight and to validate the results of the interviews conducted with FD/CFO/FM. 1.5 CONTRIBUTION OF THE STUDY This study is undertaken bearing in mind the following contributions it intends to achieve: To the best knowledge of this researcher, this study is the first of its kind in Sub-Saharan Africa and could inform policy makers in other ECMs about the costs, benefits and implementation challenges when companies are forced to adoption IFRS as a bases of financial reporting. The study is of tremendous use to the International Accounting Standards Board (IASB) to evaluate the costs and benefits of its standards to companies and the implementation challenges to take steps to reduce the costs and challenges and improves on the benefits. This will help the IASB to achieve its aim of standardisation of financial reporting around the globe. The study could also help inform companies worldwide which decide to adopt IFRS voluntarily about the costs, benefits and implementation challenges before venturing into such initiative. 1.6 ORGANISATION OF THE STUDY This study has been structured into six chapters. The content of each chapter is detailed below: CHAPTER ONE: INTRODUCTION The background of the study, which comprises the introduction, and the statement of the problem are stated. The appropriate research objectives and specific research questions used to achieve the objectives are specified. The contributions of the study are expressed. The chapter ends with the organization of the entire study. CHAPTER TWO: EMERGING CAPITAL MARKETS AND FINANCIAL REPORTING ENVIRONMENT IN GHANA This chapter starts with the discussion of emerging capital markets. Land and people of Ghana, the economy of Ghana, forms of business ownership, the evolution and the role of the Ghana Stock Exchange, and sources of financial reporting regulation in Ghana are covered in this chapter. The chapter ends with the summary of issues covered in the chapter. CHAPTER THREE: LITERATURE REVIEW This chapter discusses the role of capital markets, the importance of financial reporting in capital markets. The role of listed companies in promoting financial reporting, the history of the International Accounting Standards, recent trends towards worldwide adoption of IFRS, and the importance of IFRS adoption, prior empirical research, and gaps in the literature are covered under this chapter. All these are studied to put the topic in context. The chapter ends with a summary of the issues discussed. CHAPTER FOUR: METHODOLOGY The methods and techniques used to collect the data and their advantages and limitations are discussed. The issues studied in this chapter are: justification for the choice of Ghana, definition of the period studied, profiles of companies and research instruments. The primary data collected through questionnaire and interviews are quantified using descriptive statistics. The chapter ends with the summary of activities undertaken. CHAPTER FIVE: FINDINGS This chapter analyses and discusses the results obtained from the descriptive statistics conducted in previous chapter. CHAPTER SIX: CONCLUSION This chapter reminds of the research objective and questions studied including the procedure for data collection and analysis. The chapter presents the key findings of the study undertaken. The chapter also presents the limitation of the study and suggestions for future research. It ends with the coverage of the overall conclusion of the study. CHAPTER TWO COUNTRY PROFILE AND FINANCIAL REPORTING ENVIRONMENT IN GHANA 2.1 INTRODUCTION The environment within which a study is undertaken influences the methodology to be used and the weight readers should put on the conclusion drawn from the study. Therefore, understanding the social, political, cultural, and economic within which this study is undertaken is important. This chapter puts the research environment in context. The location and peoples of Ghana is provided in section 2.2. Section 2.3 presents political development in Ghana. Section 2.4 outlines the structure of the Ghanaian economy. The financial reporting system in Ghana is presented in section 2.5. Section 2.8 summaries the issues studied in the chapter. 2. THE LAND AND PEOPLE OF GHANA Ghana is sub-Saharan African country located along the Atlantic Ocean with a total land area of 238,539 square kilometres. Ghana shares borders with Togo, Cote dIvoire and Burkina Faso. There are ten regions in Ghana. These regions are broadly categorised into two: Northern and Southern sector. The major vegetation of the northern sector is savannah but the southern sector is predominantly rainforest belt. The population of the country as at the last population census in 2000 was 18.91 million with an annual growth rate since 1984 2000 of 2.7% (GSS.2007).The population density of the country is 79.3% with greater concentration in the southern part of the country. The temperature is generally between 21-32 °C (70-90 °F). The Ghana Statistical Service puts the literacy rate in the country at 34.2%. There are about 56 different languages in Ghana due to the many ethnic groups. The English language is the official language of the country. 3. POLITICAL DEVELOPMENT IN GHANA Ghana was the first country in sub-Saharan Africa to gain independence from the British in 6th March, 1957. Ghana became a republic in 1 July, 1960. Ghana is a member of many notable international organisations some of which are as follows: the Africa Union, the World Bank Group, the Commonwealth, ECOWAS, International Monetary Fund, Africa Development Bank, the African Peer Review Mechanism and the Economic community of West Africa States. Ghana after going through four successful coup dà ©tats return to democratic rule in 1992 under executive presidency. The nation has enjoyed an uninterrupted democratic regime since 1992. The last election of the country was held on the 7th of December 2008. National Democratic Congress, a party with social democratic ideology took over the reigns of government from the New Patriotic Party- a party with capitalist philosophy. Internationally, Ghana is seen as a beacon of hope on the continent of Africa because of her democratic credentials. 4. THE ECONOMY OF GHANA The economy of Ghana depends predominantly on agriculture, mining and quarrying and forestry. The economy has been designated in three major sector-agriculture, service and industrial sector. Agriculture is the main economic activity and currently accounts for about 34.3 of GDP, followed by 31.0% from the Services sector (GSS, 2007). Ghana relies mostly on Cocoa and Gold for its foreign currency earnings. The industrial sector contributes. Ghana has recently discovered oil in commercial quantities with first lifting expected in the year 2010. The GDP growth rate of the country between 2005 and 2008 are as follows: 5.9%, 6.4%, 6.3% and 7.2% percent respectively (World Bank, 2008). The currency of the country was re- denominated in July 1, 2007 by setting ten thousand Cedis to one Ghana Cedi. This was done to remove dead weight zeros of the old cedis as the volume and value of transaction keeps increasing to make recording easier (GOG, 2008). In 2007, Ghana successfully raised US $750M from the Euro Bond Market. The bond was oversubscribed by the international community. The oversubscription and the quality and internationality of the investors were attributed to the confidence of the international community in the Ghanaian economy (MoFEP, 2008). 5. FINANCIAL REPORTING ENVIRONMENT IN GHANA 2.5.1 Sources of Financial Reporting Regulation in Ghana The government and the private sector are responsible for financial reporting regulation in the country. The government exercise its responsibility through the department and the agencies under its purview namely: Registrar Generals Department, Securities and Exchange Commission, Bank of Ghana and the Insurance Commission. The Ghana Stock Exchange (GSE) and the Institute of Chartered Accountants (Ghana) (ICAG) are the private sector institutions responsible for financial reporting regulation in the country. 2.5.2 The Registrar Generals Department (RGD) Every company in Ghana is expected to registrar with the Registrar of companies in accordance with the Companies Code 1963, Act 179. The Registrar Generals Department in Ghana is responsible for the issuance of certificate of incorporation and commence before a company can start its operating activities. Companies are expected to submit their annual account to the (RGD). The RGD has the power to exempt a company from disclosure requirements. 2.5.3 Bank of Ghana The Banking Law 1989, PNDC 225 gives the Central Bank, Bank of Ghana (BoG) an oversight responsibility over the banking and non-banking financial services institutions in Ghana. Banks and non-banking financial institutions are suppose to comply with financial reporting requirements in Ghana in addition to Manual of Accounting and Auditing specified by the BoG. The BoG regularly visits the banks and nonbanking institutions in the country. Financial and nonfinancial banking institutions are supposed to file their annual returns with the BoG. With the adoption of IFRS Ghana, banking and non-banking financial institutions are required to comply with IFRS in addition to the Accounting and Auditing Manual specified by the BoG and the requirements of the Companies Code 1963, Act 179. 2.5.4 Internal Revenue Service The Internal Revenue Service is empowered by the Government of Ghana to develop the forms and basis of taxation in Ghana. Taxes, which affect corporate financial reporting, are as follows: corporate tax, capital gains tax, stamp duty, gift tax and national reconstruction levy, value added tax and now the Economic Stabilisation Levy.The Customs Excise and Preventive Services (CEPS) levy imports and Exports duties on companies. 2.5.5 Institute of Chartered Accountants (Ghana) An Act of Parliament, Act 170, established the Institute of Chartered Accountants (ICA) (Ghana) in 1963. The Act 170 empowers the ICA (Ghana) as the regulator of financial reporting in Ghana. The members of ICAG are only persons recognised under the Companies Code, Act 179, for the purpose of audit of companys account. Until the adoption of IFRS in Ghana, the Ghana Accounting Standards (GAS) that was in used was adaptation of the IASC standards after the each IASC standard was reviewed. The ICAG is a member of the International Federation of Accountants and Association of Accountancy Bodies in West Africa. 1. Ghana Companies Code 1963, Act 179 The companies code 1963, Act 179 prescribes the nature and form of information which must be provided in the annual reports and accounts of corporate entities in Ghana. The Companies Code defines annual reports and accounts as directors report, profit and loss accounts for a period, balance sheet as at the end of the period, notes to the accounts and the auditors report. Section 124 (1) enjoins directors of corporate entities to prepare and submit audited accounts to members and debenture holders every calendar year at intervals of not more than fifteen months. With the adoption of IFRS companies are required to comply with the requirements of the Companies Code in addition to the measure and disclosure requirements as specified by the IASB. In Ghana, failure to comply with the provisions of the Companies Code carries sanctions. 2.5.6 Ghana Stock Exchange (GSE) The Ghana Stock Exchange (GSE) was incorporated as a private company in 1989 under the Companies Code Act 179(GSE WEBSITE). Trading on the floor of the exchange commenced on November, 1990. There were thirty-five (34) companies listed on the GSE as at 31st December, 2008. Trust Bank Gambia Limited is only foreign issuer on the GSE. The total volume of shares traded on the exchange in the year 2008 were two hundred and six teen million, five hundred and eighty four thousand and six hundred (216,584,600). The year-to-date performance of the GSE as at 31st December, 2008 was 58.06%. The Stock Exchange Listing Regulation 1990, Legislative Instrument No.1509 instructs listed companies to make additional disclosure in their annual reports regarding the number shares and stated capital, information about the company secretary and registrars, transactions with directors, statement of source and application of funds, interim reports and unaudited report to the GSE prior to the submission of a udited annual reports. The role of the GSE is to win the confidence of the investing public (internal and external), protect investors and encourage companies to raise funds through the equity and debt markets. Therefore, IFRS which has been perceived by the IASB to be a high quality accounting standards will help the GSE in their quest to build confidence and protect investors. The focus of this study is the impact of this perceived high quality standards on listed companies in Ghana which to the best knowledge of this researcher has not yet been studied. 2.5.7 International Financial Reporting Standards With the adoption of IFRS in Ghana, listed companies are require to comply with the measurement, presentation and the disclosure requirements of applicable standards in addition to the requirements of the Companies Code 1963 Act 179 and the Banking Law 1989. 6. Summary Globalisation of businesses and integration of capital markets of which GSE is part, makes it imperative that financial reporting practices of listed companies should be reliable, relevant, verifiable, comparable and confirm with international financial reporting standards. Financial reporting is affected by the social, political and economic environment within which its operates. This chapter discussed the country profile of Ghana and the financial reporting environment in Ghana. The next chapter reviews the literature. CHAPTER 3 LITERATURE REVIEW 3.1 INTRODUCTION The issues studied in this chapter include conceptual issues and theoretical framework on the impact of IFRS adoption on companies. Specifically, the issues studied include, the meaning and history of international financial reporting standards, IFRS adoption around the world, the role of capital markets, the relevance of IFRS to emerging capital market and theoretical framework on the impact of IFRS on companies. 3.2 HISTORY OF INTERNATIONAL ACCOUNTING FINANCIAL STANDARDS BOARD (IASB) The International Accounting Standards Board (IASB) is private non-profit making organisation responsible for the development, issuance and approval of accounting standards to form the basis of financial reporting. The objective of the IASB is to, â€Å"provide the worlds capital markets with a single set of high quality accounting standards to be used as a common language for financial reporting† (IASB. org). The IASB came into effect in 2001 to replace the International Accounting Standards Committee (IASC).The IASC was formed by a group of professional accountants from nine countries (Australia, Canada, France, Germany, Japan, Mexico, Netherlands, United Kingdom/Ireland, and the United States of America) in 1973. Sir Henry Benson, who put forward a proposal for the formation of IASC at the 10th World Congress of Accountants in 1972, was elected the first chair in 1973 (IASPLUS.org). The immediate tasks of the IASC were the development of accounting standards on accounting policies, inventories, and financial statements. The IASC issued its first accounting standards in I975. The accounting standards developed and issued by the IASC were called the International Accounting Standards (IAS). These accounting standards are still in used today. The IASB and its predecessor lack the power and authority to ensure that companies that adopt their them are complying with their standards. They rel y on national standard setters to ensure that companies comply with their standards. 3.3 THE MEANING OF INTERNATIONAL FINANCIAL REPORTING STANDARDS Accounting standards are a set of rules, regulation, and convention that guide the preparation of financial statements and financial reports. Accounting standards form the basis for the preparation and auditing of corporate annual report. Accounting standards are developed based on conceptual framework and in the case of the IASB the ‘due process. Conceptual framework for the preparation of account has been described as a constitution (FASB, 1976; Miller, 1985; Solomon, 1986) which forms the basis for developing accounting standards. Conceptual framework are developed to guide standard setters to ensure consistency in issuing future standards and as a guide in settling accounting issues in situations where there are no accounting standard ( IAS.PLUS.org). The conceptual framework defines the elements in the financial statements, how they are recognised, measured and presented which serve as a point of reference to management in situations where there are no accounting standards (IAS. 8). Conceptual framework is not an accounting standard in itself. In situation where there is a clash between a particular standard and conceptual framework, the interpretation of the accounting standard supersedes that of the conceptual framework. The development of accounting standard undergoes several stages before it is published. The process through which a project undergoes before it is finally issued or rejected through voting is known ‘Due Process. ‘Due Process allows interest groups (preparers, users, auditors, analyst, academia etc) to take part in the standard setting process through the submission of comments. In spite of the democratic nature of the standard setting process, prior research document intense lobbying by constituents of the standards setters (see Zeff, 2002; Georgiou, 2004; Cortese et al, 2006). Accounting standards can at best be thought of as a compromise between competing constituents. International Financial Reporting Standards (IFRS) are developed and issued by the IASB. The standards issued by the IASC are called International Accounting Standards (IAS). IFRS has both narrow and broad meaning (IAS PL US.org). In the narrow sense, IFRS refers to the sets of new standards issued by the IASB different from the previous standards (IASs) issued by the IASC. The IASB has issued eight new standards (IFRS 1, 2, 3, 4, 5, 6, 7 and 8) since 2001. Broadly, IAS 1.11 defines IFRS as the entire standards (IFRSs and IASs) as issued by the IASB and IASC respectively and the interpretations issued by the International Standards Interpretation Committee (IFRIC) and the Standards Interpretation Committee (SIC). 3.4 IFRS ADOPTION AROUND THE WORLDWIDE IFRS has gained acceptance as a single set financial reporting standards in countries around the world. Deloitte (2008) suggests that globalisation of capital markets have created the need to scrap local standards in favour of international standards and benchmarks and attributed IFRS adoption as single set of global accounting standards as the best example towards this end. Deloitte asserts that more than hundred (100) countries have adopted IFRS for financial reporting but others including (Chile, Korea, Brazil, India, and Canada) have agreed to adopt or converge to IFRS by 2011. Chile and Japan have agreed to work the IASB to eliminate the difference between their local GAAP and the IFRS to ensure convergence. The European Union (EU) in 2002 mandated all listed companies within the EU to issue financial report using IFRS beginning 2005 (EC No. 1606/2002). This applies to new countries that will be admitted to the EU membership. This development made the EU the largest customer of the IASB because no continent had and have still not taking such bold initiative. Even though IFRS is mandatory for all listed companies in the EU, the EU does not issue blanket adoption of the standards issued by the IASB. The Accounting Regulatory Committee (ARC) within the European Commission must endorse the standards before they become applicable in the EU. This endorsement process confers political power on EU over the IASB (Whittington, 2005) at least for now. This power would dwindle if the largest capital market of the world, the United States, eventually adopts IASB standards, which has started with the removal of reconciliation requirements ( ) for non-US issuers who issue financial report based on IFRS . In 1993, the IOSOC tasked the IASC to develop ‘core standards to be used for cross boarder listing after the existing standards had been reviewed. The core standards were issued in 1999 and the IOSCO recommended its members to use IASC for cross boarder listing in the year 2000 (IASPLUS.com). Many countries have adopted IFRS due to their association affiliation with politically powerful bodies and their agents, which offer a great deal of assistance, which could be financial, training, trade partnership etc. Ghana perhaps allowed IFRS for financial reporting due to its affiliation with the IFAC (World Bank, 2006) and mandatorily adopted IFRS in 2007 after the recommendation by the World Bank in 2006. The United States, which would, perhaps be the last country to adopt IFRS, has taken a giant step towards converging the US GAAP with the International Accounting Standards Boards. The US SEC has removed the requirements, which ensures that foreign issuers who report based on IFRS reconcile their financial statement with that of the US (SEC, 2007 A.III.2). The US SEC has developed seven milestones, which must be achieved in order for the SEC to determine in 2011 whether IFRS should be mandatory for US issuers in their filings with the SEC in 2014 (SEC, 2008). When the US finally adopts IFRS it would become the language for reporting as other countries would be attracted to do so (Tweedie, refer to assignment). This development when actualised will lead to global convergence, which has been the long cherished vision of the IASC (now IASB) since its creation in 1973 (Benson, 73; IASB, 2003). IFRS adoption can come in many forms and shapes. Some countries (e.g. South Africa, Ghana) have adopted IFRS without modificat

International Marketing Essay

Many researches has been conducted on flight companies that are operating and connecting all the continents, but this research is about a company that started in 1940s in an Arab country in the middle east, the company is call flight Emirates, first the company was aimed to deliver flying service in United Arab Emirates and in the region, but as soon as the company raised revenues and added new shares the company thought of going further and compete in the global market. The amazing and surprising part in this company is its ability to rapidly grow and compete perfectly in the global market not only that, it has achieved its objective in that competition as you will see in the paper. The contents of this research are four parts, in the first part we will take you through how the company started and expanded to the global market up to United State of America, vision and mission of the company in the market place. In the second part you will see how the PEST and other driving forces has effect the company operations in United States and other countries, while reaching part three the research will show how the company’s segmentation, distribution, pricing and product strategy are being perform, and we shall conclude with a comprehensive summary, analysis and present the results that we have got through out our research. The unifying them in this research is the company ability to compete in a higher competitive environment like USA not only that but resulting on generating revenue and adding value to its original capital, the company also can be count as one of the biggest flight companies in the world due to its capability and differentiation in the market place. Finally, let’s hope that our research will be a vital added value to previous researches in the same matter. PART ONE: 1.1 About flight Emirate: The beginning of Emirate flight goes back to 1959 when Sheikh Rashid Saed the government official opens the Dubai international airport and announces that Dnata company with only five staff will be in charge of ground handling services, in 1978 Mr.Manrice Flanagan was appointed by Sheikh Rashid to be the general manager of dnata company which is the operating company for flight Emirates, Mr. Flanagan later on in 1984 design how the company could possibly move to serve in air service, and with acceptance of Dubai government the company requested Pakistan international airline to lease them two aircrafts, the deals were struck to fly into Karachi, New Delhi and Bombay in India. In 1985 Sheikh Mohamed gifts two Boeing 727-2005 to the airlines, these two Boeing increased the operations where the airline was able to fly to more than twenty countries. Sheikh Ahmed later on in 1990 signed an agreement with Asian Aerospace exhibition in Singapore to add airbus A310-300s to the company. In 1992 Emirate flight become the first airline to install video system in all seats in all classes in the same year the France government allow officially the flight to operate in the country, by that time the company’s work forces become 11,000 employee. Ten years later exactly in 2011 the company managed to fly to more than 120 destinations world wide, and recorded a profit of ($1.6 billion) and bought the largest Boeing in history 50777-300ER. Flight Emirate as part of its marketing strategy has sponsored number of events and competitions e.g in 2012 the company sponsor Tennis in united state and crick’s Indian premier league. As we mentioned earlier the Dnata Company headed by smart board of directors is not an easy company and the proof is that its ability to raise the capital to $ 2 billion and the workforces from 11,000 to 62,000 employees in 2012 as it was the most profitable year for the company. The company now call the Emirate group and consist two parties Emirate and dnata company and has expanded into many business for instance, hotels, workshops and tourism and the are operating all over the world. 1.2 Flight Emirate in North and South America: Flight emirates operates in North and South America challenging Americans airlines in delivering air services it flies to Brazil, Chile, Mexico, Peru, Urguay, Canada and United States, within the United States the company operate in more than six states creating a competitive environment and adding valuing advantage to this market. The free market economy adopted by United States is a difficult market to compete in if you don’t have a competitive advantage, the flight emirate with its uniqueness and appropriate tactics has a lots of winning games as we shall discuss it later on in part three, and you will realize that the company has attracted the market using different approaches. 1.3 Flight emirates management orientation toward global business: Flight emirate as we stated earlier in our introduction started as a small company call dnata in Dubai, therefore the management structure in the early 1950 was regiocentrics but after the Dubai government increased the capital and instructed many deals the company management changed in 1960s to be geocentric orientation as the views the entire world as a potential market and strive to develop their brand and integrate in global market. The reasons why we categorize the company as a transnational company are the followings: (1) The company operates in more than 100 countries and flies all over the world. (2) The company’s work forces are more than 62,000 employee spread in six continents. (3) The company assets i.e (flights, workshops, hotels etc) are not all based in Dubai. In conclusion to this regard the emirates company management can be classified as a combined of two management structures, reogiocentric a nd geocentric because in its starts the focus was regionally but later on they progress in global scale till they adapt the geocentric orientation structure. 1.4 Flight Emirate vision and mission: Vision: The vision of flight emirate is very simple as we mentioned earlier the company started as ground services company in 1940s but after Dubai government decided to inject more capital the business increases and ambitions become more than just being a ground service company therefore in 1960s the company decided to focus broader in flight services not only in Dubai and in the region but even globally. Now the vision is to be a â€Å"leading company in flight and tourism world wide providing excellent, safe and customer satisfaction†. Mission: The mission of the company is to ensure that the flight is the choice of every traveler and to create a business competitive environment and add valuable service to the market. Differentiation, opportunities and development of a star brand in the Gulf region and all over the world is the purpose of the company’s today’s focus. PART TWO: The Business Environment: 2.1 Political, Economic, social and Technological analysis (PEST): The business environment where the company operates is an important situation that we have an obligation to express in this research, many forces drives and affect the market place of any operating company, to analyze the situation we read the political, economic, social and technology changes. Political and Economic aspects: The country where flight emirate generated from is United Arab Emirate in middle east one of the world’s largest country in oil production, the economic growth and political stability are the sign of advancement in that country. UAE currently undergoing rapid expansion in investment and private venture, the government made number of commitments to strengthen and reform its investment regulatory and make conducive environment for exports and imports. United States and UAE are strongly partners in many political alliances, economic benefits, social and cultural activities the exchange numerous of interests in regard to these issues. Politically, the relationship between the United Arab Emirates and United States has been positive and productive for more than 30 years they are a reliable allies in many military, economic, and social affairs, the United State view UAE as source of stability, tolerance, innovation and a leading figure in the Gulf region. After the US tragedy in September 11 2001 where 2,996 including hijackers killed, the US foreign policy changed a lot including the relationship with UAE based on the fact that two of the hijackers were from UAE, immediately after the attack the background security checks for an Arab visitors was very high and research shows how some harassment and hates developed against Muslim in US. In conclusion to the political environment where flight emirates operates i,e in US there is no negative impact due to the strong and smooth relationship between the two countries. Economically, the UAE is the US single largest export market in the Middle East with $1.5 billion in 20 11 most are machinery, aircraft, industrial and other valuable items, US imports from UAE in 2011 was 2.44 billion most are crude oil, aluminum and other things. The US petroleum companies played a big role in development of UAE energy sector, more than 800 US firms are operating in the UAE investing in different sectors and injecting UAE market with new jobs and opportunities of Arab youth. The research also found that the US, UAE relationship is a long term partnership and each state in US probably has its own trade relationship with UAE. Research also found that UAE is the larger operator of Boeing 777 aircraft in the world, in November 2011 Emirate flight placed an order for $ 24 billion record breaking for 50 Boeing 777-300 ERs, before that there were number of orders for purchasing Boeing from US which make the company the most consumer of this type of flights. In conclusion to economic relationship between the two countries, the flight emirates is the world’s largest operator of Boeing 777 and serves non-stop flying from Dubai, also the robust trade and investment relationship between UAE and USA is based on the political stability and diplomatic understanding. Socially, the UAE and US have a lots of social partnership in numerous of activities, UAE is an open country for visitors and legal immigrant, its population is extremely liberal and open minded society compare to the other countries in the region, UAE attracts many investors and tourist including US citizens, the US population in UAE estimated to be 4,000 people working in different sectors of production. UAE population in USA is recorded not to be affected by any violence or discrimination against any human right because US treat and protect the entire resident equally but individual harassment does exist because of personal behavior. According to researches, after September attack where two were from UAE as we stated earlier the Americans views on Islam and Arab has changeed a bit of which number of travelers to and from Arab world has decreased. Technologically, as technology refers to the application of science and research into industrial or commercial objective, it has affect societies all over the world, flight emirate in its existent relies on technology in all its operation and has benefit so much in US market on this matter, marketing customers service and other operation are possible in flight emirate because of technology and the latest news in this regard is the announcement of the company recently that it will allow all the passengers to use their cell phone in its all f light operating in US market very soon, that could not be possible if the company was not connected with USA. To conclude this topic technology has not negatively affected the operations of flight emirate in USA, it has really been a source of inspiration for the company. 2.2 The Effect of Culture and Sociology: In United States market culture as (education, religion, values, attitude etc) play a big role in business place, flight emirate with its unique study of American’s culture has found it a useful environment to operate in, US is a multi cultural community where different ethnic groups coexist without any discrimination. US market is a free economy where competition is the only factor that can push you to the top or crash you down, flight emirate adapted those diversities and without any exclusion and that is why it has been able to compete with US fight companies in the market place, as we stated earlier the only side effect on flight emirate in US market was what follows September attack when a group of terrorist from middle east and with Islam background hijack US flights and threaten US as a sovereign country, the result on that was the reduction of travelers from and to Arab countries, raising the searching system which actually targ eted travelers from Gulf countries and individual harassments by some indigenous citizens. In conclusion to culture and sociology the company does record much challenges in US market based on these aspect but the following points are what we think to be the company’s threats in US market: 1-Flight emirate generated from Arab country therefore it might be a target of terrorist and use as a cover to make insecurity in USA. 2-Services in the flight emirate are indirectly affected by Islam as the crew do welcome passengers by Quran prayers on board, this activity does not satisfy non Muslims on board. 3-Wearing of AL hijab by Arab women is not an acceptable sign by some people. 4-Citizens of UAE started to avoid traveling to USA because of long waiting visa due to background security checks. PART THREE: THE COMPANY MARKETING PLAN 3.1Marketing (country) selection and entry strategy: Flight emirate operates in more than one hundred countries and flies over six continents, the research has an interest in US market and here are the reasons why the company chosen to compete in US industry: -The airline copes and encourages free competition with other market player using a strategy known as â€Å"the open skies strategy†. -The political environment and the strong relationship between USA and UAE encouraged flight emirates to choose US as useful market to operate in. -USA is an open economy where the market competition is the art of the game, flight emirate with its quality services and competitive advantage choses to be part of it. -US dollar is the most powerful currency in the world, since the company adopted this currency to be the company main fare in its all operations than the company got it profitable to operate and expand in US market. -Flight emirate benefit mo re from long haul flying which also save fuel consumption as well as non-stop flying from Dubai to USA is profitable. -The Boeing 777 is the major aircraft used by the company hence all the accessories, parts and maintenance is cheaper and available in United States. The above reasons plus the growing business opportunities between US and UAE has increases the demand for direct flying from Dubai to United States. 3.2 Segmentation, Targeting and positioning: Flight emirate like any other flights in the airline industry has a specific strategy on targeting and positioning its self in the market place, below are the airline targets: 1-Emirate flight is one of the big airline in the world, the rapid growth of Dubai and its good relationship with other countries especially US had given a chance to the company to position it self as the major carrier between the two countries and inside the US, the company currently operates in eight states in US market targeting the following segments: 2-The demand for traveling to Dubai by tourist and business people has increased and especially in summer session where Dubai attracts more than seven million tourists. 3-Expatriates, because Dubai is a working environment and highly paid city, the demand for people to travel to and from Dubai increased hardly, many US citizens live and do business in Dubai while the also regularly visit their homes, therefore flight emirate is playing that role of targeting those group. 4-Transit passengers, before the haul long flying strategy being implemented by many companies were suffering from waiting hours, passengers from US did fly to middle east or Dubai connecting through Europe, flight emirates made it easier to dominate this segment by offering direct flight between Dubai and USA and found it very profitable. Because of demand increase within the United States, flight emirate with its quality services and golden brand attracted those groups and the company positively responded and got it much profitable. 3.3 Information and research strategy: The aim of this strategy is to keep the company growing and competitive in the market place, the information and research are the heart of any successful company, it explore opinions and attitude of customers and allow the company to predict the future result of the company’s operations. Flight emirates value information technology and research and has invested a huge of amount approximately $200 million and deployed 2,200 employees, recruited from the most qualified institutions in the world. The company’s IT department and research after ensuring solutions for the company also provide services for other business in the region as the generate revenue to the company from that services. Research found that flight emirate invest heavily in information technology and research for smooth operation and acknowledging the customers needs and demand in US market. 3.4 product strategy: Oil prices has been unstable and challenging in world’s market place for many flight companies to perform perfectly with out any conciliation or interruption, flight emirate has made it easier by signing a deal with several major oil companies to supply jet fuel to them all the time with a specific price, that deal remain unchangeable no matter what the future market may present, this fuel strategy has maintained the company profitability high among the competitors. The fight also gain a lot of profit base on product strategy through it plan of long haul flying, direct from US to Dubai because this kind of service attract big number of passengers of which the company provide cheap prices. In this strategy also the company has divided its portfolio into two, airport services and infrastructure, the airport service has to ensure the safety of passengers baggage and belonging up to the last destination, this strategy has build confident between the company and the customers. The free competition strategy that was adopted by the company enable the customers view their opinion in the services, employee training and capacity building in the company has been a successful part of the product strategy because it keeps the delivery of service in a high position. Buying new aircraft every short period is one of the promotion for product strategy and what kept the company delivering excellent services in US flight industry. 3.5 Pricing strategy: Pricing strategy is the secret of any successful company, the first thing the company does was to keep US dollar as the standard currency of exchange in the company, based on the fact that dollar is a powerful and stable currency and is convenience to all passengers regardless of their country of origin, this strategy made the company’s profit always high. The company has a sufficient strategy that enable passengers enjoy cheap pricing either in short or long haul flying, this has been a competitive advantage to the company, the company has been in the market for a short time which mean the company does not charge legacy fee in its ticket because there is no burden of pension as other companies do, the well train and qualified financial managers that the company has are playing a role of keeping the financial plan in a safe environment. The most important factor that keep flight emirate cheap and profitable is the variety of aircraft that operate in diffe rent allocation this gives the passengers the option of choosing the cheaper the can afford. All the above are supported by the fact that prices of flight are not being fixed any where because it depend on the market demand, what keep flight emirate cheap and affordable is their continuation of reading the market rightly.