Aspect of Vulnerability on Adult with Learning Disabilities Essay

Aspect of Vulnerability on Adult with Learning Disabilities - Essay Example This group also cannot remember several things that are essential to life. The fundamental aspects such as those dealing with the environment are far-fetched to them. It is imperative that, people with mental illness often do dastardly things other than what is expedient for them. In life experience, such a vulnerable group is supposed to attend a memorable learning institution. They should attend a day centre and must have people who are capable to support them in life. They cannot also administer their social situations and should always be living in hospital. They cannot prepare their own meals, recognize the time, and has shortened communication power   as depicted by Cleaver & Nicholson (2008 p.90). Having known the meaning of this word, let us focus on people with mental weakness. This people are vulnerable in that they have a mental disorder and cannot leave and defend themselves independently. This calls for those who have a sound mind to help them. They are usually prone t o negligence that is separation by their families and society as a whole. Those with mental disorder are vulnerable owing to because of their limited capacity to heed new information. Such information is complicated and are vital for them to learn new skills. They again face disability that may have accrued before adult hood with long lasting effects on the development. People with mental disability are individuals and institution can expose the most vulnerable group in society. They do abuse and neglect, and in most cases, abuse might go without being recognized, and hence not reported to the relevant authority. People with mental disability can have communication needs that hinder them to report any form of abuse to the authority. More so, they cannot know what they have experienced concerning abuse. Factors that can lead to mental illness According to Hollomotz (2011p.299), increased illness or infection can cause a non-ending pain and make them feel uncomfortable. For instance, people with Down’s syndrome usually are infected with chest disorders. There are also generic conditions where they are risk factors to mental health problems. Apparently, Down’s syndrome increases the possibility of getting Alzheimer’s disease. Another factor is brain damage, even though most individuals with mental disorder do not get brain damage, for some brain damage can cause their learning disability. More so we have self-image people with mental illness can feel they are different to their colleagues hence they set themselves apart. Having looked at internal factors lets also look at external factor. They include social causes where they reside in unfavorable environment. They are also prone to adverse life activities such as abuse, or may have experienced harassment. Again, there are things they expect from others but unfortunately, their expectations can be extremely low. In the family, they can get proper support but from exceptionally difficult situa tions. Because there may be stress of careering somebody with mental illness, this may cause financial impairment hence affecting family relations. These people encounter immensely less social networks and so they have controlled support. Safe guarding intervention Parker & Penhale (2009 p.288) points out that safeguarding intervention include assisting those people with mental problems to keep themselves safe avoiding harm. They also respond to harm and

Aristotles Doctrine Of The Four Causes

Aristotles Doctrine Of The Four Causes Aristotles four causes theory uphold that all the causes can be grouped into varies divisions. The 4 causes are based on general laws, and these causes are associated with the question of why a thing is. To answer such question is to give a cause. Any artifact can be broken down to these four causes. There is the Material Cause, Formal Cause, Efficient Cause and the Final Cause. The Material Cause is the basic element that makes up a thing, in other words the cause of the object. For example the Material cause of a table would be wood, without the wood the table could not exist unless they were present in its work. The Formal Cause pertains the appearance or pattern with which these materials are accumulated. For example the Formal Cause of a table would be the arrangement, shape, and the design. Efficient Cause is the source or designer of that from which the thing became what it is. For instance the Efficient Cause of a table would be the carpenter who made it. Thus, the table is t he table it is, because of the particular carpenter who made it. Lastly, the Final cause is the end (telos), the ultimate purpose or exact form of this object that comes to be. The final cause of a table would be to place meals or to place objects on top of it. For Aristotle its very important to understand the purpose of something in order to understand how to live ethically particularly human beings. This is part of the explanation of the tables existence, for it would never have been built in the first place. Give a brief critical analysis of Aristotles idea of Happiness. The central question of ethics for Aristotle is, what does it take for human beings to lead a good life? Aristotle outlines 3 points that he thinks have to be fulfilled for some purpose to be ultimate. Ultimate goal has to be self- sufficient. Final goal. In other words something you want for its own sake, not as stepping stone for something else Attainable. Since All activities have a final cause, or leads to some other desire, Ultimately for Aristotle the one goal that seems to fulfill all these stipulations was Happiness (eudaimonia). Not in the narrow sense of mental or emotional state but rather in the sense of well being or flourishing. If human beings can find happiness, happiness by its self is self- sufficient. Aristotle says that people need to make choices and in order to make choices we have to develop certain habits or virtues, which will allow you to make the right choices. People need to understand and even necessary to be taught the virtues habits. You need to develop these virtues to develop a happy life, but the virtues are the means to the end. How do we achieve this end? In order to understand that, we need to understand how Aristotle understood the human soul. Aristotle divided the soul into 3 parts. The basic part of the soul is basically vegetative. Our bodies grow and develop by itself without any kind of consciou s control. Similarly, to the vegetable world because it takes place totally without rational control. Above the vegetable soul, its the animal level, the level of desires. As human beings Aristotle says we have certain responsibility to control our desires otherwise we would simply be no different then animals. And finally there is the rational part of the soul which controls the animal desires, as well as seeks for higher types of learning, education and higher types of gratification. Happiness is the activity of the soul according to reason and these activities must be according to virtue and excellence. If there are several virtues excellences then they must be the highest activity. If you detain happiness, you could only die happy. Aristotle distinguishes 2 types of virtues. 1. Intellectual Virtue and Moral virtue. Intellectual Virtue comes from teaching and Moral virtue comes from Habituation. We acquire these virtues through virtues acts. Aristotle considers the life of the G ods, because the activity of a God is contemplation. Which is the highest form of activity of the soul to achieve Happiness. The Gods are engaged in intellectual virtues. The Gods are not interested in human affairs. If there is a perfect life for Aristotle, which happiness it is in this existence, its the here and now not in the afterlife. The wise person is the one that studies the most, and the one that studies the most is the one that is loved by the Gods, because he is performing an activity the is accepted by the Gods. Therefore, Aristotle would say that if you reached happiness then you have achieved the ultimate human existence. Does Plato make a convincing case for why philosophers should rule society? According to Plato, the society is to consist of three classes workers, warriors and rulers. Each of which must stick to completing their direct commitment. As to the rulers, Platos opinion regarding them is very interesting and different from the views of other philosophers. In the Republic, he dwell on different types of rulers, which vary from democrat to tyrant, and he come to the conclusion that philosopher would be best choice for the country due to number of characteristics. For example, considering the aspect of love for honor, the dialogue between Plato and Socrates is shaped in the following way: What about an honor-lover? A rich man is honored by many people, so is a courageous one and a wise one, but the pleasure of studying the things that are cannot be tasted by anyone except for a philosopher.(Cohen M.C., p. 567) Another reason for the philosopher to be considered the best ruler according to Plato is the fact that unlike the rest of the rulers (monarch or tyrant), the philosopher is inclined to look for truth rather than prove his rightness to others. The philosopher is always open to new ideas and is not likely to use conventional methods which do not suit the situation. As the ideal candidate for the position of the ruler of the state is considered by Plato to be a philosopher, there are two logical ways of realization of this idea: a philosopher must become a king or a king mist become a philosopher. Either way leads to building a harmonious and strong state where everyone knows his place and fulfills his obligations honestly. It goes without saying that Platos works are full of bright ideas, inspiration and desire to improve the society he lived in. Moreover, they are still very topical and most of them underlie modern philosophical concepts. However his theory is hard to implement in real life due to its idealistic nature and the nature of the human animal. What is the relationship between the sun simile, the divided line and the allegory of the cave in Platos Republic? The Allegory of the cave in the Republic illustrates the effects of the education on the soul. It is a story showing how true reality is not always what we think it is. It is a story of tolerance and the power of possibility. Plato sums the Plato imagines a group of prisoners who have been kept in the cave their whole lives. They have been chained so they could not see behind themselves and they are forced to stare at the cave wall in front of them. Behind them a fire is burning and between the prisoners and the fire is a raised walkway. Each day a menagerie of objects cross the walkway such as animals, and people. Their shapes create a shadow play on the wall in front of the prisoners. This is the only world the prisoners have ever known. Then one day a prisoner was dragged out of the cave into the sun light, after some time adjusting to the blinding light, he noticed that it was the sun that governed everything in the visible realm and which was in one way or another responsible fo r everything they use to see. This is obviously the next stage. The free prisoner began to experience the world outside of the cave for the very first time and it was nothing like he could have ever imagined. With his new perception of the world the man returns to his friends and wants to convince them that what they were seeing was just an illusion. But the prisoners cannot recognize their own friend, he appearance as all things do, a shadow with distorted voice. This does not make the world outside of the cave any less real. The divided line explains Platos theory of how knowledge works and how we come to have knowledge and clarity of the soul. In the Allegory of the Cave the line simile explains the four types knowledge from lowest to the highest. They are, Illusions, Belief or Trust, Mathematical Knowledge and lastly Philosophical Knowledge. It illustrates that the truth works once we deal with reality. The Allegory of the Cave explains that if we want to seek the real truth we have to accept the pain of dropping all of our preconceived notions of what truth was before. The light of the fire inside the dwelling is the power of the sun, which represents the form or character of the good. Once its seen the conclusion must be that it turns out to be the cause of all that is right and good for everything. Aristotle appears to argue that we are responsible for our moral character. However, if childhood training counts for so much in developing moral character,à ¢Ã¢â€š ¬Ã‚ ¦.if we ourselves are not responsible for the training we receive? Virtue is a disposition involving choice. There are 2 parts to virtues. Intellectual virtue and Moral virtue. Intellectual virtue comes from teaching and moral virtue comes from habit. A decent person raises their children in a virtues way, since virtue comes with training and habituation. Therefore, we can say that it is obvious that we are not born with these characteristics but acquired them through nature of act.. We are responsible for the type of people we became, because we shape our moral character through choices and actions. For instance, a relationship (virtue), can be nourished through love and commitment to one another. Its not something that can be done inevitably but rather, voluntary. We are what we are, because of the things that we repeatedly do, and should not act ignorant nor make excuses. Example, becoming pianist by playing the piano, we became just by doing just actions. If it werent for our actions then teachers wouldnt be needed, for we would be born with suc h qualities. Explain Aristotles Doctrine of the mean. The doctrine of mean is Aristotles declaration to search for the middle ground, extremes exist in almost every aspect of life and one should seek for the mean. This mean is not an absolute one but a relative one, customized to the situation and person. But the location is always in between the two. For example in Nicomachean Ethics he lists the following examples; with respect to fear and confidence the mean is courage, excess in confidence leads to foolhardy and excess in fear leads to cowardice and with respect to honor and disgrace the mean is high-mindedness, excess of honor is called vanity and deficiency of it might be called humility or small-mindedness.

Philosophy in Mathematics Essay -- essays papers

Philosophy in Mathematics Mathematics has contributed to the alteration of technology over many years. The most noticeable mathematical technology is the evolution of the abacus to the many variations of the calculator. Some people argue that the changes in technology have been for the better while others argue they have been for the worse. While this paper does not address specifically technology, this paper rather addresses influential persons in philosophy to the field of mathematics. In order to understand the impact of mathematics, this paper will delve into the three philosophers of the past who have contributed to this academic. In this paper, I will cover the views of three philosophers of mathematics encompassing their history, views and effects on technology. Rene Descartes (1596-1650), G. W. Leibniz (1646-1716), and Blaise Pascal (1623-1662) (Ebersole, S. (#5)) are the three philosophers. Though all three of these philosophers contributed their own reviews on the subject of mathematical phil osophy, they all saw the world and thus it‘s mechanical contributions â€Å"as being controlled by mathematical principles.† (Ebersole, S.). Rene Descartes was born, March 31, 1596 near Tours, France (Weisstein, E.), to an important family; Descartes’ father held a position as â€Å"Councilor† in the local parliament. Rene was the 2nd of four children in his family, and suffered chronic illness’ (Wilkins, D.). At the young age of 8 years old, Descartes attended a school for which he would hold indubitable regard, the Jesuit School at La Flà ªche. Descartes would continue at this school for eight years until 1612 at which point the encountered the influential (on his life) Mydorge and Mersenne. Together Descartes would devot... ...d November 16, 2003, from ‘A Short Account of the History of Mathematics’ (4th edition, 1908) by W.W. Rouse Ball. Website: http://www.maths.tcd.ie/pub/HistMath/People/Pascal/RouseBall/RB_Pascal.html 7.) Zalta, E. (2003). Gottfried Wilhelm Leibniz. Retrieved November 16, 2003, from The Metaphysics Research Lab. Website: http://mally.stanford.edu/leibniz.html 8.) C.& G. Merriam Co. (1913) Definition. Retrieved November 16, 2003, from Webster’s Revised Unabridged Dictionary Version, Website:www.dictionary.com 9.) Garber, D. (1995). Review of G.W. Leibniz: Critical Assessments,' by Roger Woolhouse ISIS: Journal of History of Science in Society, Dec 95, Vol. 86 p. 651-53. 10.) Stephanos, S. (1977). Elaboration of the Psychosomatic Phenomenon: Observations on the Biography of Blaise Pascal. High Wire January 1,1977, Vol. 20 (2-3) p. 168-79

Levi’s Swot Analysis

TABLE OF CONTENTS 1. EXECUTIVE SUMMARY—————————————————————- 2. CURRENT SITUATION—————————————————————— 2-1-Strategic Posture 2. 2. Current Performance 3. CORPORATE GOVERNANCE——————————————————– 3-1-Board of Directors 3-2-Top Management 4. EXTERNAL ENVIRONMENT ANALYSIS—————————————— 4-1-Societal Environment 4-2-Task Environment 5. INTERNAL ENVIRONMENT ANALYSIS————————————— — 5-1-Corporate Structure -2-Corporate Culture 5-3-Corporate Resources 6. ANALYSIS OF STRATEGIC FACTORS —————————————— 7. STRATEGIC ALTERNATIVES AND RECOMMENDED STRATEGY — 7-1-Review of Mission and Objective 7-2-Strategic Alternatives and Recommended Strategy 8. CONCLUSION—————————————————————————- BIBLIOGRAPHY————————————————————————- 1. EXECUTIVE SUMMARY 2. CURRENT SITUATION Levi Strauss & Co. s a privately held American clothing company known worldwide for its Levi's brand of denim jeans. The core Levi's was founded in 1873 in San Fr ancisco, specializing in riveted denim jeans and different lines of casual and street fashion. Levi Strauss received a U. S. Patent to make the first riveted men's work pants out of denim: the first blue jeans. The company briefly experimented (in the 1970s) with a public stock listing, but remains owned and controlled by descendants and relatives of Levi Strauss' four nephews. Levi Strauss & Co. s a worldwide corporation organized into three geographic divisions: Levi Strauss Americas (LSA), based in the San Francisco headquarters; Levi Strauss Europe, Middle East and Africa, based in Brussels; and Asia Pacific Division, based in Singapore. The company employs a staff of approximately 11. 400 people worldwide. 2. 1 STRATEGIC POSTURE Vision and Core Values Levi’s believes that business can drive profits through principles, and that core values as a company and as individuals give the company a competitive advantage. Empathy — walking in other people’s shoes Empathy begins with paying close attention to the world around. Levi’s listens and responds to the needs of customers, employees and other stakeholders. Originality — being authentic and innovative The pioneering spirit that started in 1873 with the very first pair of blue jeans still permeates all aspects of the business. Through innovative products and practices, the company breaks the mold. Integrity — doing the right thing Integrity means doing right by the employees, brands, company and society as a whole. Ethical conduct and social responsibility characterize company’s way of doing business. Courage — standing up for believes It takes courage to be great. Courage is the willingness to tell the truth and to challenge hierarchy, accepted practice and conventional wisdom. It means standing by Levi’s convictions and acting on beliefs. Levi’s is the embodiment of the energy and events of time, inspiring people from all walks of life with a pioneering spirit. Generations have worn Levi’s jeans, turning them into a symbol of freedom and self-expression in he face of adversity, challenge and social change. Customers forged a new territory called the American West. They fought in wars for peace. They instigated counterculture revolutions. They tore down the Berlin Wall. Reverent, irreverent — they took a stand. 2. 2. CURRENT PERFORMANCE For its first 100 years, Levi Strauss & Company was a private company. Relatives of founder Levi Strauss owned nearly all the stock, and company employees owned most of the remaining shares. In 1971, the company went public to finance growth and diversification. However, in 1985, the company again went private, which it remains today. In September 2004, Levi Strauss announced plans to sell its Dockers casual-clothing brand to Vestar Capital Partners (a private equity fund) and an apparel industry executive for about $800 million. Selling the Dockers brand would have allowed the company to reduce its heavy debt and refocus attention on turning around the Levi brand. However, the company soon changed its mind and chose instead to reinvest in and revitalize the popular Dockers brand. Recently the company produces only for men under Dockers brand. Its products are sold in more than 110 countries worldwide through a combination of chain retailers, department stores, online sites, and franchised and company-owned stores. As of August 28, 2011, the company operated 499 stores within 31 countries. Levi Strauss & Co. ’s reported fiscal 2010 net revenues were $4. 4 billion. Regional net revenues for the quarter were as follows: The reported net revenues increase in Europe was due to currency; net revenues were down on a constant-currency basis. Gains from the expansion of the company-operated retail network and the continued success of the Levi’s Curve ID collection for women were more than offset by declines in the wholesale business. Revenue growth in Asia Pacific, primarily driven by the Levi’s brand and continued expansion of the company’s brand-dedicated retail network in China and India, offset the revenue decline in Japan. Cash Flow and Balance Sheet As of August 28, 2011, cash and cash equivalents were approximately $231 million, and $337 million was available under the company’s revolving credit facility. Cash provided by operating activities during the nine-month period in 2011 was $17 million, compared with $96 million for the same period in 2010; the decline reflected higher inventories, due primarily to the increased cost of cotton, increased selling, general and administration expenses and increased pension plan contributions. Net debt was $1. 75 billion as compared to $1. 6 billion at the end of 2010. 3. CORPORATE GOVERNANCE 3. 1Board of Directors Fernando Aguirre, a director since July 2010, is currently Chairman of the Board, President and Chief Executive Officer of Chiquita Brands International, Inc. a position he has held since 2004. From 2002 to 2004, Mr. Aguirre served as President, Special Projects for The Procter & Gamble Company (P&G), a manufacturer and distributor of consumer products. From 1980 to 2002, he served P&G in various capacities, including in an executive capacity with P&G's Global Snacks and U. S. Food Products business. Mr. Aguirre is also a director of C oca-Cola Enterprises, Inc. Chip Bergh, a director since September 2011, is the President and Chief Executive Officer. He joined the company in September 2011. Prior to joining Levi Strauss & Co. , Mr. Bergh was Group President, Global Male Grooming, for The Proctor & Gamble Company (P), a manufacturer and distributor of consumer products. During his 28-year career at P, he served in a number of leadership positions. Mr. Bergh previously served on the Board of Directors for VF Corporation and on the Economic Board, Singapore, and was a member or the US-ASEAN Business Council, Singapore. Vanessa J. Castagna, a director since 2007, led Mervyns LLC department stores as its executive chairwoman of the board from 2005 until early 2007. Prior to Mervyns LLC, Ms. Castagna served as chairman and hief executive officer of JC Penney Stores, Catalog and Internet from 2002 through 2004. She joined JC Penney in 1999 as chief operating officer, and was both president and Chief Operating Officer of JC Penney Stores, Catalog and Internet in 2001. Ms. Castagna is currently a director of SpeedFC and Carter’s Inc. Robert A. Eckert, a director since May 2010, is currently Chairman of the Board and Chief Executive Officer of Mattel, Inc. , a position he has held since May 2000. He previously worked for Kraft Foods, Inc. for 23 years, most recently as President and Chief Executive Officer from October 1997 until May 2000. From 1995 to 1997, Mr. Eckert was Group Vice President of Kraft Foods, Inc. and from 1993 to 1995, Mr. Eckert was President of the Oscar Mayer foods division of Kraft Foods, Inc. Robert D. Haas, a director since 1980, was named Chairman Emeritus in February 2008. He served as Chairman of the Board from 1989 until February 2008. Mr. Haas joined Levi’s in 1973 and served in a variety of marketing, planning and operating positions including serving as our Chief Executive Officer from 1984 to 1999. Peter E. Haas Jr. , a director since 1985, is a director or trustee of each of the Levi Strauss Foundation, Red Tab Foundation, Joanne and Peter Haas Jr. Fund, Walter and Elise Haas Fund and the Novato Youth Center Honorary Board. Mr. Haas was one of the managers from 1972 to 1989. He was Director of Product Integrity of The Jeans Company, one of the former operating units, from 1984 to 1989. He served as Director of Materials Management for Levi Strauss USA in 1982 and Vice President and General Manager in the Menswear Division in 1980. Leon J. Level, a director since 2005, is a former Chief Financial Officer and director of Computer Sciences Corporation, a leading global information technology services company. Mr. Level held ascending and varied financial management and executive positions at Computer Sciences Corporation from 1989 to 2006 and previously at Unisys Corporation (Corporate Vice President, Treasurer and Chairman of Unisys Finance Corporation), Burroughs Corporation (Vice President, Treasurer), The Bendix Corporation (Executive Director and Assistant Corporate Controller) and Deloitte, Haskins & Sells (now Deloitte & Touche). Mr. Level is also currently a director of UTi Worldwide Inc. Stephen C. Neal, a director since 2007, became Chairman of the Board in September 2011. Mr. Neal is currently the chairman of the law firm Cooley LLP. He was also chief executive officer of the firm until January 1, 2008. In addition to his extensive experience as a trial lawyer on a broad range of corporate issues, Mr. Neal has represented and advised numerous boards of directors, special committees of boards and individual directors on corporate governance and other legal matters. Prior to joining Cooley LLP in 1995 and becoming CEO in 2001, Mr. Neal was a partner of the law firm Kirkland & Ellis. Patricia Salas Pineda, a director since 1991, is currently Group Vice President, National Philanthropy and the Toyota USA Foundation for Toyota Motor North America, Inc. an affiliate of one of the world’s largest automotive firms. Ms. Pineda joined Toyota Motor North America, Inc. in September 2004 as Group Vice President of Corporate Communications and General Counsel. Prior to that, Ms. Pineda was Vice President of Legal, Human Resources and Government Relations and Corporate Secretary of New United Motor Manufacturing, Inc. wi th which she was associated since 1984. She is currently a director of the Congressional Hispanic Caucus Institute and a mem ber of the board of advisors of Catalyst. 3. 2 Top Management in Turkey Hakan Atalay is the general manager of Levi’s Turkey since 2008. He graduated from Textile Engineering Department from Istanbul Technical University and he also has a graduate degree from the Management Department of Marmara University. He has a 16 years of experience in retail, sales and product management in local and multinational companies like Mexx Turkey, Network and Unitim. Lately he was the country sales director of Nike Turkey. He is now responsible for the management of Levi’s and Dockers brand operations and for the development of strategic vision of those brands in Turkey. Kayhan Ongun is the sales director of Levi’s Turkey since 2010. He graduated from Management Engineering Department from Istanbul Technical University and he has a Management of Business Administration degree from Rowan University. He worked at various sales positions in Michelin and Nike Turkey. Lately he was Football Sales Manager in Nike Turkey. Korhan Oz is the finance manager of Levi’s Turkey. Korhan Oz is a graduate of Istanbul University Department of Economics. He has in particular substantial experience in finance. He worked as Country Financial Controller at Ernst Audit, Intergen and Nokia and then worked as Executive Vice President for Financial Affairs at Krea Group. Orhan Ors is the Information Technology Director of Levi’s Turkey. He has been working for Levi’s for 22 years. Ozan Duman is the Human Resources Director of Levi’s Turkey since 2011. Lately, he was HR Manager of Kimberly Clark Turkey. Ipek Bekiroglu is the Marketing Manager of Levi’s Turkey since 2006. Lately, she was working as a Brand Manager in Carslberg Turkey. 4. EXTERNAL ENVIRONMENT ANALYSIS: OPPORTUNITIES AND THREATS 4. SOCIETAL ENVIRONMENT Socio-cultural Turkey has the youngest population in Europe with 31M under 25 and the population growth rate is 1. 35%. Life style changes heavily affect trends in casual apparel design and market. Being thin and skinny creates a trend in the market where skinny and tight jeans dominate the market. Economic There is a shortage in cotton supply in the world combined with high cotton prices due to several important factors: First, global stocks of cotton were drawn down sharply as less cotton was grown and shipped through the global supply chain due to competition from other crops. Second, climate changes and bad weather undermined global cotton production. Thirdly, government actions further aggravated the situation where India, one of the world’s largest cotton producers, slapped export quotas on raw cotton. And finally, demand for textiles and apparel rose. Retail landscape is evolving with the opening of many new malls and locations. In addition street store rents are increasing, so brands are investing on shopping malls in primary and secondary cities. In line with this development, traditional outlet stores on the highway breakpoints have been converted to outlet malls. Extended seasonal sale months, attractive promotions are offered throughout the year. There is high investment cost on one hand; as the average shop size is growing, rents are getting higher. On the other hand however, shopping malls have made significant discounts in their rents or currency rates have been fixed due to global crisis. Technological E-commerce is getting more popular with private shopping concept. (Trend-Yol, Markafoni and Limango are the main players in Turkish Market. ) Social media has a narrow effect right now but it is increasingly becoming a part of ompanies’ marketing strategies. Political legal There is continuous financial instability in Turkey that strongly affects the spending power of Turkish people. Income difference between regions is dramatic in Turkey which affects the spending power. However, lower income classes’ and regions’ spending is increasing. Environmental standards and regulations against hazardous jeans production are in creasingly applied by many countries and companies (The blue dust that stems while sanding jeans is a heavy irritant to the lungs). In the European Union, the Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) regulations enacted 1 June 2007 require clothing manufacturers and importers to identify and quantify the chemicals used in their products. These regulations may even require manufacturers to inform consumers about potentially hazardous chemicals that may be present in their products. Actual end products are governed by stipulations of the European Equipment and Product Safety Act, which regulates the use of heavy metals, carcinogenic dyes, and other toxics used in textile manufacture. Additional consumer protection is offered by the European Union’s Oko-Tex Standard 100, a testing and certification program established in 1992. The standard gives the textile and clothing industry uniform guidance for the potential harm of substances in raw materials as well as finished products, and every stage in between—these include regulated substances as well as substances that are believed to be harmful to health but are not yet regulated (such as pesticides). The standard also governs elements such as colorfastness and pH value. Along with these standards, Levi Strauss and Co. Turkey does not produce jeans with sanding. 4. 2TASK ENVIRONMENT Rivalry among existing firms There is a heavy weight of local players in Turkish casual apparel market. Local retailers like Mavi, LC Waikiki, Colin’s, LTB (Little Big) have their own denim production facilities so that they can sell with reasonable prices. This fact that the competitors have low entry prices makes â€Å"price† the main differentiator. International and local brands are investing in key cities and key locations. (Zara, Mango, Adidas, Nike, Mavi, Colin’s). In addition, local competition is investing on O stores which are bigger than 200 sqm. Mavi was acquired by Turkven (private equity fund) with 35% share in 2008. The company has aggressive revenue targets and invests heavily in ATL communication. The company is focusing on head to toe look and as a result of this approach, their women and tops share increased. Colin’s is re-vamping the brand identity launched a new logo. The company focuses on O (owner and operator) model. In accordance with this approach, they re-fit O stores in major shopping malls. Lee is losing ground, they have no presence in stand alone stores, and they focus on department stores. LTB is re-fitting their O stores in premium shopping malls. Diesel has not been aggressive in communication for a long period. Jack & Jones is entering department stores. Grey market is an important factor that has a huge impact in the competition. The high number of grey market producers impacts the competition between the existing firms as especially the local denim producers try to differentiate themselves by price. Threat of new entrance New brands entered the market (H- 5 stores in 5 months) whereas local brands have elevated their retail environment to attract the young consumer. A will be opening their first store in Turkey in 2012. EFAS TABLE External FactorsWeightRatingWeighted ScoreComment SROpportunities O1Turkey’s young population 0. 103. 00. 3 O2E-commerce and social media; new distribution channel0. 053. 00. 15 O3Malls; increasing number of shopping malls0. 105. 00. 5 O4Seasonal sale months extension, attractive promotions0. 04. 00. 4 O5Life style changes; new products0. 104. 00. 4 O6Environmental standards and regulations0. 052. 00. 1 Threats T1Financial instability0. 105. 00. 5 T2Grey market0. 103. 00. 3 T3High operational costs (O)0. 104. 00. 4 T4Marketing investments of the local brands0. 054. 00. 2 T5Increasing number of new competitors0. 053. 00. 15 T6Low cotton supply and high cotton prices0. 105. 00. 5 Total1. 003. 9 5. INTERNAL ENVIRONMENT ANALYSIS: STRENGTHS AND WEAKN ESSES 5. 1CORPORATE STRUCTURE The worldwide leadership team, which includes the CEO and ten executives, sets the company’s overall direction and is responsible for all major strategic, financial and operational decisions. Many of the senior-most leaders have risen through the company ranks over the past two or three decades. But to maintain the lead in the fast-changing fashion industry Levi’s leadership team also includes executives who bring leading-edge expertise and new ideas from other consumer companies and other industries. Levi Strauss Co. as a corporation has operations divided under three main regions: Asia Pacific, Europe and America. The company has headquarters in Singapore, Brussels and San Francisco. Every region is under the management of a Vice President. Country General Managers are directly reporting to their respective Regional Vice Presidents. In Turkey, human resources, information technology and finance departments are directly reporting to their respective region and they are indirectly reporting to Turkish General Manager. However, sales and marketing departments are directly reporting to Turkish General Manager and they are indirectly reporting to their respective region. Retail Operations and Sales Manager and Wholesale Sales Manager are directly reporting to Sales Director. Retail Operations and Sales Manager manages four District Managers and Wholesale Sales Manager manages three Account Managers in Turkey. 5. 2CORPORATE CULTURE Levi Strauss & Company as a multinational company embodies its vision that has four main values at the core: empathy – walking in other’s shoes; originality – being authentic and innovative; integrity – doing the right thing; and courage – standing up for what they believe. In addition to guiding the strategic decisions and actions, the company’s values also guide its social responsibility in various ways – through the grants provided by the Levi Strauss Foundation, through the support provided to communities in which it has a business presence, through its employee community-involvement program, and through its ethical code of conduct for its business partners. The company’s strategic move to outsourcing has presented its own challenges because of Levi Strauss’ strong commitment to socially responsible business practices. In 1991, Levi Strauss became the first multinational company to establish a comprehensive ethical code of conduct for its alliance partners in manufacturing and finishing. This code, titled the Global Sourcing and Operating Guidelines, establishes business practices such as fair employment, worker health and safety, and environmental standards. The company remains committed to ensuring compliance with its â€Å"Code of Conduct† at all facilities and works onsite with its contractors to develop responsible business practices and continuous improvement. Trained inspectors closely audit and monitor the contractors and if it is determined that a business partner is not complying with the terms, Levi Strauss requires that the partner implements a corrective action plan within a specified time period. If a contractor fails to take corrective actions, the business relationship is terminated. By nature, the company is externally focused and determined to stay that way. This means constantly scanning developments that affect the business, and acting on that information to surprise their customers. The above are part of Levi Strauss’ global corporate citizenship culture. To make these to also diffuse to Turkish Levis’ employees working environment, the top management team is making radical moves. 5. 3CORPORATE RESOURCES STRENGTHS Levi Strauss and Co. is a member of Better Cotton Initiative. Better Cotton is a different way to grow cotton that decreases the negative environmental impacts and has the potential to improve the livelihood of the 300 million people involved in cotton farming worldwide. At its heart, the Better Cotton Initiative aims to make all cotton grown around the world more sustainable by reducing water and chemical use (including pesticides and fertilizers), protecting the health of the soil and promoting important labor standards including bans on child labor. The Better Cotton Initiative also focuses on training and empowering farmers to improve their long term financial profitability. This is a conscious effort made by all partners of the Better Cotton Initiative to help prevent prices for Better Cotton from rising dramatically in the short term. This is an advantage on behalf of Levi? s Turkey as the competitors in Turkish market are not involved in this initiative. Levi’s always had been described as a fashion innovator, as the company created the jeans market. The company continues to recognize the importance of the right products to its future success. One of Levi Strauss’s critical strategic goals is to â€Å"innovate and lead from the core,† and it continues to introduce product innovations. For instance, since 2001, the Advanced Innovation Team for the Dockers line has introduced several groundbreaking product innovations. For instance, in 2004 and 2005, the team developed three new and exclusive product innovations. The first was the Never-Iron Cotton that dramatically minimizes wrinkling. Another was the Thermal Adapt Khaki pants that adjust to body temperature. And the third was Dockers Shirts with Perspiration Guard, a special finish that wicks away moisture from the body and eliminates the appearance of perspiration marks. This is a strength that differentiates Levi? s from its competitors. In addition to this, the company recently decided to make a tradeoff and it stopped producing for women under Dockers brand. This is another wise strategic move on behalf of the company. And furthermore- in line with the above tradeoff- Levi’s was one of the first companies to tap into the mass customization trend by offering made-to-order jeans. In 1999, the company announced that it would begin offering customized versions of its classic denims to fit every woman’s body type, but this move was not successful at that time. In 2011, the company re-launched the same project under the name of â€Å"Curve ID† for women and now it proved to be a great success to regenerate growth on women? s product line. This is another important advantage that makes the brand stronger than the other brands. Youth panel- as a method of consumer-driven brand innovation- is a qualitative consumer panel focused on the consumer typologies that the company believes exercise greatest influence on the dynamics of change within the casual apparel market. The panel has been built up in most fashion significant European cities and comprises between 50 and 100 of the most fashion-forward youth. It is convened twice a year to fit into the line development calendar. This tool is strength for Levi? as it provides the best indication the business has of how much momentum a particular trend has in it, and so serves to guide both general businesses forecasting as well as specific product life cycle management. Every second quarter the brand and design teams dedicate a day to working with the insights coming out of the panel. It helps set the strategic agenda and also enables some very effective and immediate trouble- shooting. WEAKNESSES One of the company’s most valuable assets is its Levi’s brand. However, that venerable Levi’s brand had lost much of its popularity. Although Levi Strauss has one of the best-known names in the world, its market power has declined. An annual ranking of global brands with the most impact showed Levi’s ranked at number 32 in 2001, number 34 in 2002, and number 56 in 2003, and rebounding to number 44 in 2004. The products that baby boomers in the 1960s defined as hip and anti-establishment were now perceived as non-trendy and dull. In the brutally competitive apparel market, that type of image, particularly with younger consumers, has proven to be a disadvantage. As a way to span the consumer market, the company launched several new brands in USA and several other countries. But the same product strategy is not applied in Turkey and the product range is not diversified to cover all customer segments as far as price competition is considered. The company chose to stick with low-tech, in-store posters and other promotions; rather than mass media coverage – television and print ads which the biggest competitors in Turkey extensively use. The company doesn’t invest on brand image and use localized advertisement. But the competitors are using constant brand communications strategy including celebrities, outdoor events. IFAS TABLE Internal FactorsWeightRatingWeighted ScoreComment SRStrengths S1High brand awareness 0. 155. 00. 75 S2Member of Better Cotton Initiative0. 053. 00. 15 S3Advance innovation competence0. 154. 00. 60 S4Profit growth0. 103. 00. 30 S5Product category fragmentation (Curve id-women; Dockers- men)0. 104. 00. 40 Weaknesses W1Inflexible pricing strategy 0. 155. 00. 75 W2Misuse of marketing communications budget0. 154. 00. 60 W3Brand image deterioration 0. 155. 00. 75 Total1. 004. 30 6. ANALYSIS of STRATEGIC FACTORS A. SITUATIONAL ANALYSIS SWOT- SFAS TABLE SRInternal FactorsWeightRatingWeighted ScoreComment S1High brand awareness (global reach and scale)0. 05. 00. 50 S3Advance innovation competence0. 105. 00. 50 S5Product category fragmentation (Curve id-women; Dockers- men)0. 053. 00. 15 S6Financial strength0. 054. 00. 20 W1Inflexible pricing strategy 0. 054. 00. 20 W2Misuse of marketing communications budget0. 053. 00. 15 W3Brand image deterioration 0. 105. 00. 50 O1Turkey’s young population 0. 055. 00. 25 O3Malls; increasing number o f shopping malls0. 104. 00. 40 O4Seasonal sale months extension, attractive promotions0. 054. 00. 20 O5Life style changes; new products0. 053. 00. 15 T2Financial instability0. 055. 00. 25 T3Grey market0. 053. 00. 5 T4High operational costs (O)0. 104. 00. 40 T5Marketing investments of the local brands0. 054. 00. 20 T6Increasing number of new competitors0. 053. 00. 15 Total1. 03. 70 7. STRATEGIC ALTERNATIVES and RECOMMENDED STRATEGY 7. 1 Review of Mission and Objective 7. 2 Strategic Alternatives and Recommended Strategy TOWS MATRIX Internal FactorsStrengths S1. High brand awareness (global reach and scale) S2. Member of Better Cotton Initiative S3. Advance innovation competence S4. Profit growth S6. Financial strengthWeaknesses W1. Inflexible pricing strategy W2. Misuse of marketing communications budget W3. Brand image deterioration External Factors Opportunities O2. E-commerce and social media; new distribution channel O3. Malls; increasing number of shopping malls O4. Seasonal sale months extension, attractive promotions O5. Life style changes; new products1. Levis can continue to growth with new openings in different malls 2. Through high brand awareness, easy to take place in social media and cooperate with e-commerce websites as new distribution channels 3. Levis can adapt its products for different preferences1. New online campaigns to improve the brand image Threats T2. Grey market T5. Increasing number of new competitors T6. Low cotton supply and high cotton prices1. Developing new production technologies in order to use the raw materials effectively 2. Support social responsibility initiatives worldwide 1. Assessment of local competitors in order to redesign the marketing campaigns Recommended Strategy Functional strategy, marketing strategy; positioning should be made according to the target audience. Through social media and online campaigns Levis can improve its brand image and can reach Turkey’s young population. After several researches, it has been found out that the potential age group for both men and women is 14-25 in Turkish casual apparel market. However, it must also be taken into consideration that it is the 18-35 age group that consumes more and that women are the ones who increase the overall sales in general. The private shopping companies are growing very fast in Turkey. Levis can use e-commerce websites as new distribution channels to improve the brand penetration among 24-35 years old, worker segment. Levis is using its global marketing communications campaigns in Turkey, as they are. The company does not try to assess its competitor’s strategies or to adapt the tone of the messages according to local needs and preferences. However the local competitors are really aggressive in communication. Levis has to redesign its communication campaigns and reallocate its marketing budget. 8. CONCLUSION BIBLIOGRAPHY 1)http://www. levistrauss. com/ 2)Company’s 2012 plan 3)Company’s distribution strategy 4)Inspiring the organization to act: a business in denial, International Journal of Market Research Vol. 44 Quarter 2, 2002, the Market Research Society 5)Denim Pazar? nda Marka Konumland? rmalar? n? n Karsilastirilmasi,

Cruelty in Animals Essay

As human beings, we cannot live without other people. In order to survive, we need each other and should help each other. However, we need not only people but also other creatures, such as animals. Their presence is essential in human life as well. They can provide food, help us to earn money, be our companion and many more. Therefore, it is important to treat them with respect as we treat other human beings. In Indonesia, however, many people seem to not fully aware about the importance of appropriate treatment for animals. Many animals are being mistreated by some heartless Indonesians. As the proof of the existence of cruelty in animals, some issues are given. Mistreatment of animals in the zoo is one of the underlying issues today. Many zoos in Indonesia are neglecting and being cruel to animals. Recently, the news about Surabaya City Zoo shockingly showed us how poor some people treat animals. Many animals were starving and didn’t have enough water. The cages are dirty and too small for their needs. Those cages were also littered with plastic rubbish thrown by some visitors; starving animals eat them sometimes. Moreover, many animals were chained and couldn’t move properly. As the result, many animals died unnaturally because of those terrible conditions. Another issue that has been discussed long since is cruelty to monkey as the part of _Topeng Monyet_ or Masked Monkey show. In this street performance, the monkeys are forced to entertain crowds for money by wearing masks and other outfits to imitate humans. They are also forced to ride mini bicycles, sit on tiny stools and even play dead. Perhaps, it seems okay for some people because this is part of traditional culture. However, the cruelty to those monkeys actually happens worse behind the shows. Besides exploiting, many handlers also treat them so badly. The monkeys often live in pitiful conditions, are riddled with disease and forced to live in small cages. Furthermore, metal chains fastened to their neck and eventually infect their skin. Cattle mistreatment is another controversial issue of cruelty in animals. We  need to highlight a topical issue of Australian cattle exported to Indonesia which are abused. Upon arrival in Indonesia, the cows shipped from Australia are lifted by a crane using a cruel technique. Workers usually unload the cows from a boat with ropes hanging around their necks. Moreover, another torturous method is employed in some Indonesian abattoirs. In order to make more money, some butchers force cows to drink a huge amount of water to increase their weight just before slaughtering them. These cows are called _sapi gelonggongan_. Many cattle are often slaughtered with blunt knives afterwards. A lot of people might feel some serious concern about the fact that many animals are often abused and exploited in Indonesia. Therefore, those controversial issues should be resolved immediately. We should not let those creatures end up suffering in this way. We should repay for what those animals have given to us by taking care of them properly.

Implied Warranty †Law Essay

Implied Warranty – Law Essay Free Online Research Papers The area of law with which this problem is associated with is the laws of consumer protection in unfair practices, specifically in the context of express and implied warranty in relation to the supply of services. The Principles of the Law According to Cordato, A (2006, p2.1) a valid contract is enforceable promises between two or more parties, binding them to carry out certain actions in writing or orally. Once the parties have fulfilled the components required of a contract then the terms in the agreement are binding regardless of the parties have read or understood the terms and clauses (Khoury D, Yamouni Y, 2003 pp 5.35). As illustrated in the case of LEstrange v F Graucob Ltd [1934] 2 KB 394 where it was decided that a party not taking the trouble to read the document is bound by the terms of the contract, in this case, the exclusion clauses relieved the defendant from liability. Terms and conditions can be in forms of express terms or implied terms that the parties involved are obliged to perform or act (Khoury D, Yamouni Y, 2003 pp 5.2). Express terms are considered in context first before implied terms because it is the actual terms stated by the parties involved. It must be incorporated in contracts by signature, by notice or by the course of dealing otherwise it will not form part of the agreement (Khoury D, Yamouni Y, 2003 pp 5.3). If the express terms are unseen prior to the agreement, as in the case of Thornton v Shoe Lane Parking Ltd [1971] 2 QB 163, the courts decision held that the exclusionary terms in the agreement could only be seen after the plaintiff parked his car in the parking station, were not to be part of the contract. Likewise, exclusionary clauses are commonly expressed in contracts to exclude or limit one partys liability for breach of a contract or negligence (Khoury D, Yamouni Y, 2003 pp 5.35). This is shown in Darlington Futures Ltd v Delco Aust Pty Ltd (HPH 708) when the High Court supported an exclusion clause which protected the defendant from liability from unauthorized transactions. Implied Warranty for Services to Consumers According to S74 of the Trade Practices Act 1974 (Cth) (TPA) it provides that ‘in every contract for the supply by a corporation, in the course of a business of services to a consumer there is an implied warranty that the services will be rendered with due care and skill’ and any term of a contract excluding or modifying that warranty is void. An example of S74 can be seen in the case of PNSL Berhad v The Owners of the Ship ‘Koumala’ [2007] QCA 429 when the Court decided that the implied warranty under S74 should be applied, in which overrode the pre-existing exclusion clause due to its lack of consistency. 1. A consumer in S4B of the TPA is defined as someone who ‘acquires goods or services for less than $40,000 (S 4B (2) a) or at any price if the goods or services are for the consumers personal, domestic or household use’. This was the case in Carpet Call Pty Ltd v Chan (1987) ATPR where the courts decided that ‘carpet’ would be classified under domestic consumption, even though it was purchased for commercial use (Latimer P, 2007, pp7-090). 2. An implied warranty is a statutory standard of quality terms normally not stated in contracts, but may be integrated into contracts by force of law involuntarily (Khoury D, Yamouni Y, 2003 pp 5.35). 3. Services under S74 (3) of the TPA does not include contracts for or in relation to transportation or storage of goods. 4. For breach of S74, innocent parties may sue for damages under S82 as in Commonwealth v Amann Aviation Pty Ltd at 82 where damages award can include a combination of losses that reflect different interests (Topic notes 9 pg 2) Applying the Facts to the Law Bill cannot argue that the exclusion clause is not incorporated as a term because he has signed the contract. Bill is the burden to the contract terms ‘by the fact that before the driver picked up the goods Bill signed ‘U-Will-B-Right’s’ Standard Transport Contract’ regardless whether he read the terms as in LEstrange v F Graucob Ltd [1934] 2 KB 394. Nonetheless, if the terms were not in the contract, as in the case of Thornton v Shoe Lane Parking Ltd [1971] 2 QB 163 where it was decided that the terms were seen after the contract, then those terms would not form part of the contract. Bill may argue that ‘U-Will-B-Right’s negligence resulted in the conduct on the fact that the truck driver was at fault because he was unfit to drive due to excessive consumption of caffeine and alcohol. This may put Clause 10 in effect and may waive â€Å"U-Will-B-Right Pty Ltd† free from liability for any damages to Bill’s belongings, â€Å"whomsoever the same may have been caused, nor for any consequential loss to the consignor or consignee† that is regardless of cause â€Å"U-Will-B-Right† will not be legally responsible. On the contrary, in respect to the negligence by â€Å"U-Will-B-Right’s conduct, Bill can apply implied statutory warranty into the contract under S74 of the TPA where services to consumers are performed with appropriate care and skill. Then S74 will override clause 10 â€Å"U-Will-B-Right† may be liable for the damages as seen in the case of PNSL Berhad v The Owners of the Ship ‘Koumala’ [2007] QCA 429 In order for this implied warranty to be incorporated in the contract, despite an agreement between the parties. Bill must qualify as a consumer under S4 of the TPA since the goods in question belong to him for domestic use, similar to the Carpet Call Pty Ltd v Chan (1987) ATPR case as ‘carpets is used for consumer consumption. On the other hand, Bill does not qualify for the implied warranty under S 74 (3) of the TPA because the ‘delivery of goods’ is part of transportation services that is not included in S74 of the TPA. Conclusion It is likely that Bill would fail an action against ‘U-Will-B-Right’ for the damages of the goods because he signed the contract agreeing to the expressed contractual terms such as clause 10 relieving ‘U-Will-B-Right’ from liability in the absence of the implied warranty in S74 of the TPA as in the Darlington Futures Ltd v Delco Aust Pty Ltd (HPH 708) case. Research Papers on Implied Warranty - Law EssayEmployment Law EssayThe Legal ProcessEthics in Business EssayAlternative Dispute Resolution ClauseJean-Jaques Rousseau EmileExempt vs Non-Exempt EmployeesGap Analysis: Lester ElectronicsCash or Card?International PaperDefinition of Export Quotas

Macroeconomic Impact on Business Operations

Macroeconomic Impact on Business Operations Free Online Research Papers Macroeconomic Impact on Business Operations The Federal Reserve Board uses tools to control the money supply in the United States, which are open-market operations, the reserve ratio, and the discount rate. These tools influence the money supply and affect macroeconomic factors, which I will discuss in detail. I will also explain how money is created in a macroeconomic system, and recommend monetary policy combinations to best achieve a balance between economic growth, low inflation, and a reasonable rate of unemployment. Feds Tools of Monetary Control The Fed has three tools that are used for monetary control in altering the reserves of commercial banks. The money supply is the total amount of currency plus deposits held by the public. These tools can alter economic growth, change the rate of inflation, the level of employment, and adjust the exchange rate, by expansionary or contractionary monetary policy. Open-Market Operations The amount of money circulating in the economy can be adjusted through open-market operations, specifically with selling and purchasing of U.S. Treasury and federal agency securities bonds in the bond market. The Federal Open Market Committee (FOMC) will decide on a short-term objective for open market operations. This objective can be a chosen quantity of reserves, or a desired price (federal funds rate). The federal funds rate is the interest rate at which commercial banks lend balances at the Federal Reserve to other depository institutions overnight. †If the Fed believes that the economy is overheating (if the supply of money is outpacing production of goods), it will raise interest rates and bring money supply down to what it perceives to be the â€Å"equilibrium† level. With the same thought, if the Fed believes economic growth is outpacing money supply (causing deflation/less inflation), it will reduce interest rates. When interest rates are lower, it’s che aper for individuals to take out loans to start new businesses or buy goods and services. This also discourages them from keeping their money in a bank account, because they would make less interest† (NematNejad, 2007). The open-market operation is considered the most common tool used by the Fed, because bonds are bought and sold every week day in New York City. The Reserve Ratio The Fed has control over the reserve ratio, which determines the lending ability of commercial banks. The reserve ratio stipulates how much a bank is required to keep in reserves relative to what is in deposits. If a bank has a reserve ratio of 15%, the required reserve on $10 million in deposits is $1.5 million. The required reserve ratio is dictated to be certain banks do run out of cash on hand to meet the demand for withdrawals. The money not required in be on hand is then loaned out to customers, which in turn, increases the money supply. The Discount Rate The Federal Reserve Bank is a lender of money to commercial banks. When commercial banks borrow from the district central bank with a promissory note, the interest charged is referred to as the discount rate. The borrowed money will then increase the commercial bank’s reserve, which increases their lending ability. The discount rate is determined by the Fed, and this will be the cost of attaining the reserves. If the Fed were to lower the discount rate, more commercial banks would be inclined to borrow to obtain additional reserves, which would lead to more money in the economy. The same works in reverse for decreasing the money supply. Creation of Money Using the tools previously identified, the Fed can increase the supply of money, in other words, create money. During a period of expansionary monetary policy, decreasing the reserve ratio will result in more money commercial banks are able to lend to customers. By lowering the discount rate, the Federal Reserve Bank will lend more money to commercial banks. With commercial banks increasing reserves, the amount available for lending increases, which results in increases in the money supply. The open-market operation of buying and selling of government bonds is the most commonly used tool the Federal Reserve Bank uses to create money. If the economy is showing signs of recession and unemployment, the Fed will buy securities to increase commercial bank reserves. By increasing the commercial bank reserves, as previously discussed, the lending of the reserves will result in the creation of money. The goals of reaching low inflation, economic growth and a reasonable rate of inflation may sometimes conflict with one another. â€Å"One kind of conflict involves deciding which goal should take precedence at any point in time. For example, suppose theres a recession and the Fed works to prevent employment losses from being too severe; this short-run success could turn into a long-run problem if monetary policy remains expansionary too long, because that could trigger inflationary pressures. So its important for the Fed to find the balance between its short-run goal of stabilization and its longer-run goal of maintaining low inflation† (Federal Reserve Bank of San Francisco, 2004). Recommended Monetary Policy Monetary policy has become the policy of choice when determining the levels of the money supply. The advantages over fiscal policy are the speed and flexibility, and the isolation from political pressure (McConnell and Brue, 2004). Using the open-market operation, the Fed can purchase or sell government securities daily to affect the money supply and interest rates without much delay. Working in combination with reserve requirements, and discount rates, the Federal Reserve Bank can manipulate the application of monetary policy to achieve a balance between economic growth, low inflation, and a reasonable rate of inflation. The easy money policy was applied to the recession of 1990. The decision to increase the supply of money increased the aggregate demand which resulted in the use of inactive resources. The decision to increase the money supply may have an adverse effect on the economy; excessive spending. Overactive spending may lead to an inflationary economy, which is remedied by selling securities, increasing the required reserve ratio, and raising the discount rate offered to commercial banks. The policy incorporating these actions is called a tight money policy. The reason for a tight money policy is to decrease spending and control inflation. To achieve an environment of a stable economy, finding the balance between easy and tight money policies is crucial. A quote from Milton Friedman (1968) states The first and most important lesson that history teaches about what monetary policy can do and it is a lesson of the most profound importance is that monetary policy can prevent money itself from being a major source of economic disturbance. Managerial Decision Making In the University of Phoenix simulation (2008), scenarios are presented to students regarding monetary policy. The student is allowed to make decisions which affect the Real Gross Domestic Product (GDP), inflation, and unemployment levels. In the first scenario, global developments have caused the economy to sag, and industrial production to slow. Although inflation looks to be under control, the Real GDP is falling, and unemployment is on the rise. The solution to this scenario can be a combination of increasing the Discount Rate (DR) Federal Funds Rate (FFR) percentage spread, raising the reserve ratio slightly, and selling approximately $750 million in government securities. The results of my choices were almost a 1% increase in the Real GDP, a tenth of a percent rise in inflation, and a 0.8% drop in unemployment. By selling securities, the supply of money goes up, along with inflation. The unemployment rate does the opposite of Real GDP. If investment and spending rises, demand rises, therefore, increasing the opportunities in the workforce. Unemployment will decrease with the rise of the Real GDP. Ideas from the simulation on how to use monetary policy tools of discount rate, reserve ratio, and open-market operations helps me understand how the supply of money is controlled. Conclusion The three tools of monetary policy include the open-market operations, the required reserve ratio, and the discount rate. Together, these tools will be applied to either expansionary or contractionary policy during times of recession or growth. The policies will influence those who can create money. As the Fed lowers the required reserve ratio, banks have more flexibility when lending money. Lowering the discount rate allows commercial banks to borrow more from the Federal Reserve Bank, which also increases the availability of money for lending. But the most commonly used tool is the open-market operation, where the government sells and buys securities to increase commercial bank reserves. The tool is used every day of the week. Monetary policy is the policy of choice, with its speed and flexibility, and separation from political pressure. The Fed can act quickly to respond to inflation, unemployment, and economic growth. References Brue, S.L., McConnell, C.R. (2004). Economics: Principles, Problems and Policies, 16e. The McGraw-Hill Companies Federal Reserve Bank of San Francisco. (2004). About the fed. Retrieved February 1, 2008, from frbsf.org/publications/federalreserve/monetary/goals.html Friedman, Milton, The Role of Monetary Policy, American Economic Review, 1968: p.12. NematNejad, A. (2007). Best way to invest. Monetary policy. Retrieved February 2, 2008, from bestwaytoinvest.com/monetary-policy. University of Phoenix, (2008). Economics for managerial decision making [Computer Software]. Retrieved February 2, 2008, from University of Phoenix, rEsource, Simulation, MBA501-Forces Influencing Business in the 21st Century Web site. Research Papers on Macroeconomic Impact on Business OperationsTwilight of the UAWIncorporating Risk and Uncertainty Factor in CapitalThe Effects of Illegal ImmigrationPETSTEL analysis of IndiaAnalysis of Ebay Expanding into AsiaOpen Architechture a white paperDefinition of Export QuotasGenetic EngineeringBionic Assembly System: A New Concept of SelfResearch Process Part One Macroeconomic Impact on Business Operations Free Online Research Papers Macroeconomic Impact on Business Operations Monetary policy is a strategy that is used by the federal government to influence the economy. Having monetary authority allows the government to control the supply and availability of money (Federal Reserve, 2009). Along with the monetary policy, political objectives have a strong influence on the economy and its growth. The main goal of our government is to implement â€Å"macroeconomic stability†, which includes low unemployment, low inflation, and steady economic growth (The Financial Pipeline, 2009). This paper will discuss how money is created, and how factors such as GDP, economic growth, inflation, and unemployment are affect by the monetary policy. Money creation is a tool that is used to produce or issue money. The process of money creation takes place in three ways. The first step is by manufacturing and distributing paper currency or metal coins. Second, money is distributed through debt, lending, and government policies. The regulation, production, and the redemption of money are regulated through the Federal Reserve (Federal Reserve, 2009). The Federal Reserve determines the operation of financial markets and the purchasing power of money throughout the U.S. economy. Within the Federal Reserve is the regional bank, which in turn measures the money supply. These regional banks within the Federal Reserve are private banks that control the issuance of â€Å"debt-backed† money to the government (The Financial Pipeline, 2009). The Federal Reserve is responsible for implementing monetary policies that help regulate the economy. The Federal Reserve conduct’s the nation’s policy by influencing monetary and credit policies. They also supervise and regulate the banks in order to ensure the consistency and safety of the nation’s financial system. Lastly, the Federal Reserve provides financial services to depository institutions, and foreign official institutions. It also plays a major role in the operation of the U.S. payment system (Federal Reserve, 2009). In order to stimulate the economy, the Federal Reserve implements the federal funds, which are the reserve balances that private banks keep at their local Federal Reserve Bank. The reason for keeping money at the Federal Reserve Bank is to maintain a strategy that allows for private banks to loan money to one another. This financial market system plays a vital role within the Federal Reserve because it influences the use of monetary policy. This action in turn influences the use of monetary policy and it determines the amount of money that the private banks charge each other for the lending of those federal funds (Federal Reserve, 2009). The Federal Reserve consists of 12 Federal Reserve Banks. These 12 banks distribute banking services to depository institutions and also to the Federal government. These banks are also responsible for maintaining accounts, providing various payment services that include collecting checks, electronically transferring money, and lastly distributing and receiving currency and coin (Federal Reserve, 2009). When it comes to retail, the Federal Reserve provides a series of financial services that deal with wholesale payments. According to Ghatak Sanjers (2007), retail payments are small dollar amounts that include a depository institution’s retail clients, which consist of small and large businesses. Wholesale payments are reserved for large dollar amounts, these depository institutions are typically for large corporations. Monetary policy has a strong influence on the economy when it comes to inflation. In our economy there are two types of inflation, which are monetary inflation and price inflation. Monetary inflation deals with an increase in the money supply. Price inflation deals with the steady increases of the level prices, which in turn determines the value and purchasing power of money (Steele, 2008). If there is a fast increase in money and credit over a certain period of months, it will usually result in price inflation. According to Ghatak Sanjers (2007), when it comes to price inflation a dollar buys less and less over time. Monetary and price inflation can have a negative impact on the economy. Lenders lose money because the value of a dollar isn’t worth as much, businesses struggle with projecting future plans and, in turn lead to decrease in projects. Mortgage companies really suffer from inflation, because monetary inflation increases long-term interest rates (The Financial Pipeline, 2009). Those long-term interest rates typically leads to a decrease in consumer spending because people are less likely to make major purchases such as homes and cars, b ecause of high interest rates. The overall goal of implementing monetary policy within the U.S. economy is raising or lowering interest rates based on the demand for goods and services (Steele, 2008). Changes with interest rates affect the demand for goods and services by determining borrowing costs, the availability of loans, the income of households, and foreign exchange rates. Long term interest rates are a reflection of the financial markets expectations of what the federal government will do in the future (The Financial Pipeline, 2009). When it comes to the concern of inflation the financial markets add a risk premium to long-term rates, which in turn will make interest rates higher. If there is a decrease in interest rates, the cost of borrowing is lower, which is good for business growth. It is also good for economic growth, because it leads to an increase of supply and demand. Another result of lower rates is valuable bonds and higher stock prices. Individuals, who have stock that is valued high, are more likely to spend more, and businesses are more willing to invest. Monetary policy affects inflation by the demand to enforce labor and capital markets beyond their abilities (Federal Reserve, 2009). If the monetary policy is persistent with maintaining low short-term rates there will be an increase in interest rates, which in turn could deter spending. So in order to deal with inflation, the goal is to decrease the money supply in the economy. Reduction of excess money would lead to a decrease in aggregate demand, and would help reduce the level of price inflation (Ghatak Sanjers, 2009). Monetary policy also plays a critical role on employment and the labor market. The federal government structures the labor market through paying unemployment insurance benefits, determining the minimum wage, raising or lowering income taxes, and lastly setting the rules and guidelines for labor unions to operate. Also employment, is influenced by government investment and the infrastructure, this includes schools, roads, and parks. These places have an effect on the amount of money paid to the labor force. The government’s monetary policy has an effect on the cost and availability of money and credit through the demand for labor. When there are high levels of unemployment, the Federal government must be consistent in order to ensure the demand for money is growing fast enough (Ghatak Sanjers, 2009). One strategy for the government is to try to lower the unemployment rate by stimulating the growth of the money supply. An outcome of this strategy could possibly be a boos t in economic activity, but it doesn’t stabilize the rate for high unemployment. Even though bringing more money into the economy sounds like a legitimate reason to help a weakening economy, though it doesn’t mean it is a reasonable cure. Higher wages and prices could mean an unreasonable change in economic growth, which in turn can lead to inflation and businesses could stop hiring (Steele, 2008). By the federal government establishing the monetary policy, they are constantly looking for ways to keep the unemployment and inflation levels low. When there is a steady economy, reducing doubt in the marketplace is crucial for companies and its workers. This way more businesses and investment decisions can be made, which can lead to the hiring of more employees. Having stability allows the economy to grow and produce at high levels. Currently, the nation’s unemployment rate is at 9.8 percent. According to The Financial Pipeline (2009), many Americans have become frustrated when it comes to looking for work. In the U.S. employers cut 263,000 jobs last month and there were more than 200,000 layoffs for the month of August. Since the recession began there has been a loss of more than 7.2 million jobs. Those numbers are terribly high, and could possibly get worse. The high loss of jobs will affect consumer spending negatively. In order for the unemployment rate to improve, the industries of renewable energy, healthcare, and construction will have to experience a steady rate of growth (Ghatak Sanjers, 2009). Overall, in order to have a balance of a healthy economy and steady employment there has to be a steady pace of revenue, strong interest rates, and economic growth. The monetary policy is a reflection of the government’s ideal of regulation and trade within the economy. References Federal Reserve. (2009). Federal Reserve Bank of San Francisco. Retrieved from www.frbsf.org Ghatak, S., Sanjers, W. (2007). Monetary policy rules in transition economies: the impact of ambiguity. International Journal of Development Issues, 6(1), 50-55. doi:Cengage Learning Steele, D. (2008). The alliance takes on the reserve bank and its effect on jobs. Monetary Policy and Employment. Retrieved from www.jobsletter.org.nz/jbl08410.htm The Financial Pipeline. (2009). Monetary Policy. Retrieved from www.finpipe.com Research Papers on Macroeconomic Impact on Business OperationsTwilight of the UAWPETSTEL analysis of IndiaQuebec and CanadaThe Effects of Illegal ImmigrationAppeasement Policy Towards the Outbreak of World War 2Analysis of Ebay Expanding into AsiaIncorporating Risk and Uncertainty Factor in CapitalThe Project Managment Office SystemDefinition of Export QuotasGenetic Engineering

Transcendentalism in American History

Transcendentalism in American History Transcendentalism was an American literary movement that emphasized the importance and equality of the individual. It began in the 1830s in America and was heavily influenced by German philosophers including Johann Wolfgang von Goethe and Immanuel Kant, along with English writers like  William Wordsworth and Samuel Taylor Coleridge.    Transcendentalists espoused four main philosophical points. Simply stated, these were the ideas of:   Self RelianceIndividual ConscienceIntuition Over ReasonUnity of All Things in Nature In other words, individual men and women can be their own authority on knowledge through the use of their own intuition and conscience. There was also a distrust of societal and governmental institutions and their corrupting effects on the individual.   The Transcendentalist Movement was centered in New England and included a number of prominent individuals including Ralph Waldo Emerson, George Ripley, Henry David Thoreau, Bronson Alcott, and Margaret Fuller. They formed a club called The Transcendental Club, which met to discuss a number of new ideas. In addition, they published a periodical that they called The Dial along with their individual writings. Emerson and The American Scholar Emerson was the unofficial leader of the transcendentalist movement. He gave an address at Cambridge in 1837 called The American Scholar. During the address, he stated that: Americans]  have listened too long to the courtly muses of Europe. The spirit of the American freeman is already suspected to be timid, imitative, tame....Young men of the fairest promise, who begin life upon our shores, inflated by the mountain winds, shined upon by all the stars of God, find the earth below not in unison with these, - but are hindered from action by the disgust which the principles on which business is managed inspire, and turn drudges, or die of disgust, - some of them suicides. What is the remedy? They did not yet see, and thousands of young men as hopeful now crowding to the barriers for the career, do not yet see, that, if the single man plant himself indomitably on his instincts, and there abide, the huge world will come round to him. Thoreau and Walden Pond Henry David Thoreau decided to practice self-reliance by moving to Walden Pond, on land owned by Emerson, and build his own cabin where he lived for two years. At the end of this time, he published his book, Walden: Or, Life in the Woods. In this, he said, I learned this, at least, by my experiment: that if one advances confidently in the direction of his dreams, and endeavors to live the life which he has imagined, he will meet with a success unexpected in common hours. Transcendentalists and Progressive Reforms Because of the beliefs in self-reliance and individualism, transcendentalists became huge proponents of progressive reforms. They wished to help individuals find their own voices and achieve to their fullest potential. Margaret Fuller, one of the leading transcendentalists, argued for womens rights. She argued that all sexes were and should be treated equally. In addition, they argued for the abolition of slavery. In fact, there was a crossover between womens rights and the abolitionist movement. Other progressive movements that they espoused included the rights of those in prison, help for the poor, and better treatment of those who were in mental institutions. Transcendentalism, Religion, and God As a philosophy, Transcendentalism is deeply rooted in faith and spirituality. Transcendentalists believed in the possibility of personal communication with God leading to an ultimate understanding of reality. Leaders of the movement were influenced by the elements of mysticism found in Hindu, Buddhist, and Islamic religions, as well as the American Puritan and Quaker faiths. The transcendentalists equated their belief in a universal reality to the Quakers’ belief in a divine Inner Light as a gift of God’s grace. Transcendentalism was greatly influenced by the doctrine of the Unitarian church as taught at Harvard Divinity School during the early 1800s. While Unitarians stressed a rather calm and rational relationship with God, transcendentalists sought a more personal and intense spiritual experience. As expressed by Thoreau, transcendentalists found and communed with God in gentle breezes, dense forests, and other creations of nature. While Transcendentalism never evolved into its own organized religion; many of its followers remained in the Unitarian church. Influences on American Literature and Art Transcendentalism influenced a number of important American writers, who helped create a national literary identity. Three of these men were Herman Melville, Nathaniel Hawthorne, and Walt Whitman. In addition, the movement also influenced American artists from the Hudson River School, who focused on the American landscape and the importance of communing with nature.   Updated by Robert Longley

Negative message assignment Essay Example | Topics and Well Written Essays - 500 words

Negative message assignment - Essay Example Recently I visited some of your retail outlets to inquirer about the FinalScratch system and I found the sales professionals to either be inept regarding the product and often led me to competitive products. Obviously from our perspective this sort of behaviour can not be tolerated if we are going to have a working relationship in the future. Prior to the launch of the FinalScratch system we had offered to give your entire sales force a sales an in person tutorial of the product which was an opportunity that your competitors jumped at but you declined believing that your sales force could educate themselves. Obviously this was not the case otherwise the sales professionals that I encountered would have known more about the product. Mr. Fletcher, I am proposing that you allow us to train your sales professionals in person so that they can learn more about the advantages of the FinalScratch system and be better suited to answer the questions of today's DJ enthusiasts. However if you ch oose not to let us train your staff and the sales of the FinalScratch system continue to be stagnate in your marketplace than you will leave us no option but to terminate our professional relationship with you.

Computer Incident Response Teams Essay Example | Topics and Well Written Essays - 1000 words

Computer Incident Response Teams - Essay Example Not only these companies would suffer from information damage, but also their clientele and reputation will nosedive in the industry. Computer Incident Response Teams (short-form 'CIRT') are special teams formed for the purpose of minimizing and controlling the impact of a security breach or other computer related emergency in the company (Brussin, Cobb, & Miora, 2003). CIRT is a also known as CERT (Computer Emergency Response Teams) and CSIRT (Computer Security Incident Response Teams) in some companies, however, they all attempt to provide security to the computer systems. It depends on the company policy as well as the riskiness of information leakage or damage. In companies who don't heavily rely on computer systems, a CIRT would not be of much use. However, now with most organizations keeping important information on computer systems, the need for having a CIRT is increasingly getting popular. With the increasing number of viruses, spywares, backdoors in the systems being detected, a CIRT is a necessity for an organization keeping competitive information on the computers. Like in all business strategies before implementing them a plan needs to be created that would guide the formation of a CIRT. This plan includes all the details about the CIRT and all the information that the security team would need to know. Furthermore, this plan should be feasible in all ways and must provide a competitive business advantage. The details of the plan are given below. (RHE, 2004) 4.1 Make a Policy First of all, a policy regarding the CIRT should be created. This would have standards, rules ad regulations and instructions as to what is to be done when the security is breached. This policy document should be given to all members of the company and must be followed exactly as mentioned in the policy. (Lucas & Moeller, 2003) 4.2 Form the Team Forming the Computer Incident Response Team is the most important part in this plan. Usually the team is formed on a voluntary basis. However there are certain characteristics that need to be there in a CIRT. First of all the members of the team must be extremely responsible. Since action is required to contain the emergency, the team members should also be quick to react. Another quality that the team should have is that its members must be loyal to the company and should be heroes in their own sense as their job is to save the company from a disaster. Only trustworthy people should be made a part of this team. (RHE, 2004) After these characteristics, the team should have technical expertise to understand and resolve the situation. The team usually comprises of system and network administrators as well as information security experts. The system administrators oversee the correct response to the threat and supply the required knowledge about system resources. The network administrators are responsible for routing the network traffic though other points while closing all activity in those routes where the security has been breached. Information security officers diagnose and analyze the problem and detect the point of intrusion to try to solve it. (RHE, 2004) The team should be kept in close coordination with each of its members at all times so that in case of an emergency all members would get notified immediately. It is ideal to keep

Financial Accouting Theory coursework Essay Example | Topics and Well Written Essays - 1500 words

Financial Accouting Theory coursework - Essay Example permits the accounting treat of investments in joint ventures in either of two methods, namely, the proportionate consolidation method or the equity method. It is matter of great controversy and discussion as which method is most suitable for venturer to recognize its joint venture interest in its financial statements. An effort has been made in this write up to suggest the most suitable method of accounting for the venturer. For applying proportionate consolidation method the consolidated financial statements of jointly controlled entity are used. The consolidated balance sheet of the venturer includes its share of assets that it controls jointly as well its share of liabilities for which it is jointly responsible. Similarly, the profit and loss account of the venturer includes its shares of income and expenses of the jointly controlled entity. First, Share in each asset, liability, income, and expenses of the venturer into the joint venture statements may be shown as separate line item under the asset, liability, income, and expenditure of similar nomenclature in the consolidated financial statements of the venturer, or the second, where the venturer may combine its share in each asset, liability, income, and expenditure into joint venture financial statement with asset, liability, income, and expenditure of similar nomenclature in the consolidated statements of venturer. Under equity method initially the investment into the joint venture is recoded at cost. The venturer will recognize its share of joint venture income as an increase in investment and a corresponding increase in the net income. Share of income or part of investments actually withdrawn or taken from joint venture business is not shown as income by the venturer in its statements. Instead those are reported as reduction in the joint venture investment account. Market values of the investments into the joint venture are not considered. The transactions are recorded at cost only. When an

Single Parenting Essay Example | Topics and Well Written Essays - 2500 words

Single Parenting - Essay Example This situation can be reached with divorce, separation or break up after the relation without marriage. Though single parent families started originating in the early 1950's, they were at their peak somewhere around the late 1980's and 1990's. The main cause of a complete family being broken down into a single parent family was the death of a partner. However, the trend changed, and the main cause turned towards the divorce between partners. It is this addition of several new causes, especially divorce, that the single parent family form is the fastest growing form of family in the North America. The first surprising fact about single parenting is that this phenomenon has been defined in two different ways. The following definition of single parents is distinct by only a single feature. Single parenting is a situation where the sole parent is responsible for the upbringing of the child. The sole parent does not receive any form of assistance from the other parent due to circumstances such as death, abandonment, etc. There can be several other reasons beside a few listed. According to this definition, some single parents might not be entitled to hold the status of being a single parent. However, as discussed earlier, the changing trend brought with it, changes in the causes of becoming a single parent. ... However, the second half of this decade saw a general decline in the rise of single parent families. The rise of single parent families that dominated the US culture for 4 decades, ended 1996 onwards (Statistics). Reports in 1960 suggested that only 9 percent of the total children’s' population in the US was living in single parent families. This rose to a staggering 25% in 1990 and to 28% in the year 2000 (Simmons and ’Neill). It is interesting to note how these changes came about in statistical terms. Three separate trends of the family culture can be identified. Between 1996 – 2000, the share of children living with a never married parent rose to 11.0 percent from 10.6 percent. However, this first trend was offset by the second trend. The percentage of children living with a divorced parent dropped to 15.6 percent from 17.3 percent. The third trend, children living with a widowed parent, maintained a constant percentage of 1.2 percent. These figures depict tha t the number of children living with a never married parent increased by 400,000 whereas the number of children living with a divorced parent decreased by 1 million (Statistics). The US Census from the year 2000 shows us that 12.2% of all households are female single parent households whereas 4.2% of all households are male single parent households. According to these statistics there are a total number of 17,294,115 single parent families in the US alone (Weiss). The trend in the United Kingdom has been similar. Over a quarter (26%) of the families in Britain are single parent families. In numbers, there are over 2 million parents in Britain today, though this number has remained more or less constant since the

Critically analyse financial statemebt Essay Example | Topics and Well Written Essays - 250 words

Critically analyse financial statemebt - Essay Example c. Cash Flow - cash flows provides the business’ operating, investing, and financing cash flows over a specified period. It reconciles the changes on the cash on hand at end of a period with the beginning balance by including the income derive from non-cash revenue and expenses â€Å"by adjusting net income for non-cash revenues and expenses† (Tempte, 2005). d. Statement of Changes in Owners’ Equity – the change in owner’s equity happens when a business profits, its asset value changes and when its owners adds more capital or made withdrawals against the business (McGrann, 1998). Sole trader or single proprietorship is a business owned solely by an entrepreneur where owner assumes all responsibilities pertaining to the business and do not distinguish between the owner and the business. In effect, he or she also carries the whole burden of the business’s liability. In the event that loss occurs, the liability will affect and extend to the owner’s finances. With regard to its income statement, a sole trader has to pay tax on the business net profit and in the event that the net profit is over a certain threshold, the owner has to pay the Value Added Tax (VAT) of 17.5%. This VAT rate however has been decreased to 15% in consideration of the recent financial crisis. With regard to reporting for taxation purposes, a complete income statement and balance sheet should be submitted to HMRC. The owner is responsible for keeping all the expenses for a certain tax year. The financial statement of a sole trader is straightforward where accounts are simpler compared to limited companies where entries vary due to the complexity of the business. It involves deduction of expenses from sales to arrive at the taxable net profit or loss (which of course not taxable anymore because it is a loss). Limited companies are also called as Joint stock companies or partnership where owners or

Fiji Electricity System Research Paper Example | Topics and Well Written Essays - 2000 words

Fiji Electricity System - Research Paper Example The value of imports from Fiji has been increasing and hit the $3 billion US mark in 2006. The main contributing factor to the increase is the mineral fuels importation. The mineral fuels have increased in value since 2004 to 2008. It represents a change from US$400 to about $1.2 billion. The overdependence of the industry’s on fuel importation reveals how the economy is vulnerable to the rising fuel prices. The vulnerability is of concern given that the increase in demand for electric power has overwhelmed Monasavu Hydropower Station limits over the last decade. It results in the supplementation of its energy requirements with diesel generation (F.E.A. n.d.). Fiji can be termed as better than its larger neighbors. It has about 80% of its people (about 92% in urban areas) accessing electricity. By 2008, its average electricity production mix was composed of 33.7% diesel, 62.1% hydro, 0.6% wind and 3.6% biomass. Energy consumption in Fiji has increased to 715.2 million kWh in 2009 from 202.8 million kWh in 1980. Because the hydropower component is variable as it depends on the weather patterns, the ever growing demand for electric power has to be fulfilled by importing diesel-based generation. FEA has an ambitious plan of producing 90% of its electricity by use of renewable energy resources by 2015 (Lal & Atul n.d) Fijis pricing tariff rates are the lowest in the Pacific Islands region. As of recent times, its rates have stagnated though there was a marked increase in its demand and diesel usage. The cause of its low tariff prices is its rejection by the independent power producers because FEA could not pay them suitable buying rates. As at present, FEA supplies about 54% of the electricity market from its hydropower stations as it gets the rest from thermal generation. This condition is expected to change upon the installation of a new 42-MW hydropower system. In regards to estimates made by FEA, generation of

Critically analyse financial statemebt Essay Example | Topics and Well Written Essays - 250 words

Critically analyse financial statemebt - Essay Example c. Cash Flow - cash flows provides the business’ operating, investing, and financing cash flows over a specified period. It reconciles the changes on the cash on hand at end of a period with the beginning balance by including the income derive from non-cash revenue and expenses â€Å"by adjusting net income for non-cash revenues and expenses† (Tempte, 2005). d. Statement of Changes in Owners’ Equity – the change in owner’s equity happens when a business profits, its asset value changes and when its owners adds more capital or made withdrawals against the business (McGrann, 1998). Sole trader or single proprietorship is a business owned solely by an entrepreneur where owner assumes all responsibilities pertaining to the business and do not distinguish between the owner and the business. In effect, he or she also carries the whole burden of the business’s liability. In the event that loss occurs, the liability will affect and extend to the owner’s finances. With regard to its income statement, a sole trader has to pay tax on the business net profit and in the event that the net profit is over a certain threshold, the owner has to pay the Value Added Tax (VAT) of 17.5%. This VAT rate however has been decreased to 15% in consideration of the recent financial crisis. With regard to reporting for taxation purposes, a complete income statement and balance sheet should be submitted to HMRC. The owner is responsible for keeping all the expenses for a certain tax year. The financial statement of a sole trader is straightforward where accounts are simpler compared to limited companies where entries vary due to the complexity of the business. It involves deduction of expenses from sales to arrive at the taxable net profit or loss (which of course not taxable anymore because it is a loss). Limited companies are also called as Joint stock companies or partnership where owners or