Recount an incident or time when you experienced failure. How did it Essay - 2

Recount an incident or time when you experienced failure. How did it affect you, and what lessons did you learn - Essay Example This led to self-obsession coupled with blaming myself and asking what could have gone wrong to the extent people were then ill-treating me that way. Due to bullying, ill-treatment by people and be called names, state of inadequacy crept in my life whereby I started believing what others were saying about me. Thus ended up being emotionally distressed, which led to depression to the extent of being constantly angry at whomever I mingled with and eventually finding attending my classes meaningless. This significantly did affect my grades though initially I was too obsessed with self to notice until the situation had advanced. My situation then comprised of self-hatred, engrossed by self-pity and sometimes regretting before turning to self-harm, which took many months before compelled to seek therapist’s assistance. My recuperation was gradual characterized by attending classes partially though initially being a struggle not only in trying to live but also to thrive. Getting back to my ordinary life was quite a task but through encouragement that I should not give up, my grades started improving. This is to the extent of scoring highly in school because after recovery I focused on catching with what I had lost while experiencing depression and had kept me from studying as necessitated. Presently, despite the depression being a horrible experience, I am presently proud of what it has made me to be. In life, I never thought one day I will ever experience such a low situation thought it has made me learn essential lessons. I have learnt life irrespective of its horrible experiences with necessary resilience cannot turn me being a failure. Since, I should not to give up because pain is inevitable in life and especially for me to grow as I appreciate each opportunity. I also learnt there is always h ope and solution for each situation despite how exigent it appears. In conclusion, experiencing depression during my

Two Gallants by James Joyce Essay Example for Free

Two Gallants by James Joyce Essay James Joyce’s story â€Å"Two Gallants† presents a colorful presentation of Ireland through the use of words, and their combination with other words to form vivid phrases, throughout the story. It can also be said that the symbolisms in the story, through the aid of the pairing of words and adjectives, are quite easily observable in the sense that, as a whole, the story presents several ironies in the lives of individuals who live their lives close to those of average individuals. The presentation of imagery throughout the story is as compelling as it is also poignant.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Right at the opening lines of the story, it can already be noticed that the author is trying to establish a portrait of the setting. With the line â€Å"the grey warm evening of August† already suggests the feeling of sobriety amid a warm evening to the point of being close to dullness as it sets the mood for the proceeding paragraphs in the story. The color ‘grey’ suggests the fine line between white and black, which all the more makes sense when added with the line ‘warm evening in August’, thus implying the feeling that the characters in the story are just about to commence with what they have in mind just about when the evening sets in.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The first paragraph of the story obviously establishes the mood of the setting, notable with the author’s use of the lines â€Å"a mild, warm air, a memory of summer, circulated in the streets† which suggests that summer has been over although there is still the feeling of summer around the area, and the author’s comparison of the shining lamps to that of â€Å"illumined pearls† is a metaphor which adds not only color but also a certain ‘feel’ of the setting. The same can also be said about the author’s description of the street which can be observed from the description of the author in which the light from the lamps change â€Å"shape and hue unceasingly† as the streets are â€Å"swarmed with a gaily colored crowd.†   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The author also provides an interesting initial description of Corley and Lenehan, the two main characters in the story. Lenehan was described as someone who â€Å"wore an amused listening face† while Corley was about to conclude his long monologue. The eyes of Lenehan were â€Å"twinkling with cunning enjoyment† as he listened to Corley’s stretch of narrative. It can be said that the choice of words of the author in partially describing the characters are, at the least, vivid and vibrant. The use of the words â€Å"twinkling† and â€Å"amused† to describe the eyes and the face of the characters respectively tells us more than what can apparently be said about the descriptions. The words transcend beyond mere description as they give a different kind of meaning or characteristic to the face and eyes of Lenehan and Corley respectively. A â€Å"listening face†, for the most part, tell us that Lenehan was very attentive to the narrative of Corley precisely because the former did not only listen with his ears but with his amused face.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Another interesting part where the author describes Lenehan is the part where the author compares Lenehan to a â€Å"leech†, as that was the character’s social reputation. That is the part where the author’s choice of a term that will best befit the character of Lenehan tells us the extend of the imagination of the author, reflecting the depth of the skills of James Joyce in selecting words that do not only have deep metaphorical values but also have social relevance. That being said, the imagery of the character of Lenehan is already summarized right after the author described him as a leech because, for all we know, a leech sucks blood or life out of others. In essence, the term â€Å"leech† to describe Lenehan was already a huge and provocative statement in itself.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   On the other hand, the author’s presentation of the image of Corley is equally amusing as it is vivid and describes the character in a crafty manner. Joyce describes Corley as the son of a police inspector, who has â€Å"large, globular and oily† head which â€Å"sweated in all weathers†. The words used by the author to ‘illustrate’ the image of Corley is amusing simply because of the words â€Å"globular† and â€Å"oily†, which also suggests that, indeed, Joyce is an author who makes sense out of words which are considered to be out of the ordinary in describing individuals in real life situations. That observation only leads us to the observation that Joyce is indeed focused on writing a story that is very well within the bounds of good literature. To describe a person’s head as â€Å"globular† and â€Å"oily† is also a statement in itself as those two words already give the reader a specific mental image of what Corley looks like. The choice of words illustrates all the more the capacity of the author to turn words into powerful adjectives.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Among the lists of the presentation of imagery in the story include but is not limited to the â€Å"large faint moon circled with a double halo,† and the â€Å"pale disc of the moon† which became â€Å"veiled† and appeared to â€Å"meditate†. Seldom can one encounter these descriptions of the moon at nighttime largely because the interest to describe the surroundings is either usually observed in the literary world or in rare occasions of the sudden outburst of one’s imagination in real life cases. Indeed, Joyce once again delivers the literary touch in terms of diction and presentation of imagery, correlating the features of short story with that of the experience of the characters which seem to linger between reality and fantasy. By describing the moon as a large, pale and faint disc surrounded by a double halo while appearing to meditate, the portrayal of the moon comes in ‘full circle’. The moon is depicted not merely as an inanimate object floating in the night sky but as an object which appears to meditate; a description which is characteristic among individuals who seek comfort in silence.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Joyce’s method of using words that usually relate to the activities of living humans to an inanimate object is reflective of ‘personification’. By combining the words which can rightfully describe inanimate objects to that of a word which is largely attributed to animate objects gives the reader the feeling that the inanimate object, which in this case is the moon, appears before Lenehan as an object which is both animate and inanimate—a seeming paradox. Nonetheless, this seeming paradox is understandable as it is one which is aimed at presenting an imagery which is not strictly or solely confined within the bounds of real possibilities.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   There is a part in the story where the movement of Corley’s head is described as swinging â€Å"to and fro as if to toss aside an insistent insect† while Corley’s â€Å"brows gathered†. The description of the movement of Corley’s head gives the reader the feeling that, while reading and imagining the action of Corley simultaneously in one’s imagination, the shaking of the head must have been swift and forceful â€Å"as if to toss aside an insistent insect†. It gives the reader the impression that Corley was irritated while his â€Å"brows gathered†, suggesting that he was also showing signs of doubt pressed with a lingering hesitation or reservation somewhere in his mind. Indeed, Joyce’s use of diction in this part clearly highlights the author’s efforts to give life to what can be considered as a character in print. It ‘animates’, so to speak, a character w hich is technically inanimate.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   More importantly, the various names of streets mentioned in the story all point to the Irish-Catholic Dubliners with the English, sending the reader the impression upon closer examination that the story operates within the background of an Irish and English perspectives. It can also be observed that the story makes certain references to certain colors, such as blue and white in describing what the housekeeper was wearing. The colors blue and white can be attributed to the colors of the dress of the Virgin Mary, which again creates a paradox precisely because the housekeeper who Corley went with is not a virgin in the strictest sense of the word. Thus, the choice of words of the author of the story is not merely based on the fancy of the mind or in random choosing of colors. Rather, and more importantly, the colors chosen were selected to signify socially, or religiously relevant criticisms.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   To a certain extent, it can be said that the criticism that Joyce is trying to impress upon the reader with the colors blue and white is the idea that the Irish society during those times, especially the religious church, has failed in maintaining the moral and religious foundations of the people in many ways. Joyce gives the chilling idea that from where the church has failed, the people have picked on those failings to do about their dealings with others. Corley, Lenehan and the woman housekeeper are examples to illustrate that point in the story.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It is important to note that the â€Å"Two Gallants† gives us a fine look into James Joyce’s ability to flesh out words and use them to bring characters to life, to make inanimate objects turn into animate creatures, and to make social criticisms. The presentation of imagery throughout the story is vivid and vibrant which is met by Joyce through his artistry with diction and in using that diction as a means to create a story with a sensible plot, one that goes beyond the pages and reflects the society during that time. Work Cited Joyce, James. Two Gallants.   Dubliners. Prestwick House, Inc., 2006. 41-50.

Levels of strategic management and their uses

Levels of strategic management and their uses There are three levels of Strategic Management. There is the Corporate Level, the Business level and the Functional Level. These levels are depicted as under: For each level a certain set of questions arises or rather there is a function for each level while framing strategies for the entire business. Corporate Level: What business(es) should the company be in? Business Level : How should the organization compete in the environment? Functional Level: How should the organizations resources be best employed to support its strategy? This article is dedicated to the business level strategies that are being adopted by managers of different firms so that their business has a competitive advantage over their competitors in the highly volatile market. Business Level Strategy The first step for divisional managers is to develop a model thatll allow a company to gain a competitive advantage over its competitors in the market . They must take into consideration the following: STRATEGIC CHOICES Customer needs Product Differentiation Customers needs are changing and the firm must be able to innovate and differentiate their products and services from their competitors. Customer group Market Segmentation A company needs to group customers based on the importance of difference in their need and preference. As such a company has three alternatives: The company may not recognize that different groups have different needs and moves ahead in serving the average customer. The company may choose to market segment into different states and develop a product that suits the needs of each segment. The company can recognize market segments and choose to cater its products and services only to one market segment. Deciding on Distinctive Competencies A company must decide the distinctive competencies it must pursue to satisfy customers needs and groups. In making a business strategy choice, a company must decide how to organize and combine its distinctive competencies to gain a competitive advantage. CHOOSING A GENERIC COMPETITIVE STRATEGY AT THE BUSINESS LEVEL Choosing a generic competitive strategy at the business level implies choosing any of the following approaches: Cost Leadership/ Low cost Differentiation Focus All businesses can pursue regardless of whether they are from the manufacturing sector, service sector, or nonprofit organizations. They can be pursued in different types of industrial environments. Each of the generic strategies results from a companys persistent and consistent choices on its product, the market, and distinctive competencies Overall Cost Leadership Establishing a cost structure that allows a firm to provide goods and services at a lower unit cost than its competitors Strategic Choices The cost leader does not even try to be the innovator The cost leader positions his products to appeal to the minds of the average customer The ultimate goal of a cost leader is to increase his efficiency and lower his costs. Advantages If competitors charge similar prices, the cost leader achieves a much superior profitability The cost leader is able to charge a price lower than his competitors. If there are powerful suppliers , the cost leader is less affected by increase in prices of inputs If there are powerful buyers, the cost leader is less affected by a fall in price of inputs Purchases are done in huge quantities to increase bargaining power over suppliers The ability of reducing price to compete with other substitute products Low prices are a barrier to entry of potential competitors. Disadvantages The competitors may lower their cost. The competitors may copy the cost leaders methods. The overall cost leadership strategy carries a risk that the cost leader, the single minded desire to reduce costs, may lose right to changes in customer tastes. Differentiation Differentiation strategy refers to the differentiated companys ability to satisfy a customers needs. A company must create a product that customers perceive as distinct in an important way If customers pay the higher price charged for a product( higher than the price charged by cost leader), it means that customers believe the product-differentiated qualities to be worth the difference. Strategic Choices Focus on Quality, innovativeness and responsiveness to customer needs Strives to differentiate itself from competitors. Segments the market into many different niches Concentration on the organizational functions that provide the source of differentiation and competitive advantage Advantages Customers become loyal and develop brand loyalty Price increases can be passed on to customers Powerful buyers will be easy to find because the product is distinct and therefore there is increase in revenues. Differentiated products and brand loyalty are barriers to entry of potential competitors. The threat of substitute products is minimized and depends on competitors ability to meet the needs of the customer. Disadvantages It is difficult to maintain a long-term distinctness in the customers eyes. Competitors can quickly imitate the companys products. Application of Patents and first-mover advantage are limited It is difficult to maintain a continuous premium price Overall Cost Leadership Differentiation Strategy There are some businesses that pursue models of the overall cost leader and differentiator simultaneously Strategic Choices Limiting the customer options can reduce the cost of production and marketing costs A company can reduce costs by adopting the JIT inventory model. This inturn improves quality and reliability The internet has proved to be of immense help to marketers as they can engage in e-commerce to advertise and sell their product. These products are often in huge production in countries with low labor costs. Focus Strategy The focus strategy is basically serving the customers needs of specific market segments. The location of specific customers eg: The people from the North-East love to eat pork. Whether the customer is a spend-thrift or is a type of customer who saves. Another differentiation would be in terms of quality seekers. After identifying and choosing a specific market segment, a focused company positions itself using either a Low-cost or differentiation strategy. When a company focuses on one group of customers, it is said that the company is adopting either a focused cost strategy or a focused differentiated strategy. Advantages The focuser is protected from its competitors to the extent that it can cater its products or services that they cant. The buyers cannot get the same thing from others therefore the focuser has power over them. Once brand loyalty has developed in the minds of customers, the new entrants threats is limited Substitutes will pose minimal problem once the customer develops loyalty towards the product. The changing needs of customers are better tracked by the focuser. Disadvantages With regards to powerful suppliers the focuser experiences a disadvantage because it procures in small volume at high costs and therefore cannot pass the cost along to its loyal customers A focuser may have to incur more costs since it is procuring at low volumes It is tough for a focuser to maintain its niche because of changing customers desires and speedy technological changes. Competitors especially the differentiators will try in their best way to compete for the focusers niche that has been developed. Now, let us focus on companies that adopt different business level strategies to gain a competive advantage over their competitors. Coca-Cola The Coca-Cola Company (Coca-Cola) is a manufacturer, distributor and marketer of non-alcoholic beverages and syrups, including fountain syrups. It manufactures and sells non-alcoholic beverages, carbonated soft drinks and various varieties of non-carbonated beverages. It is operating in every continent namely North America, Africa, South Asia and the Pacific, Europe, South America and Asia, Eurasia and Middle East. Products bearing the Coca-Cola trademark are being marketed in over 200 countries all over the world. This company follows a business level strategy-namely the differentiation strategy. It spends huge amounts of money in promotions and advertisements in order to differentiate their offerings and create a unique image for its cola products. The Coca-Cola company has been successful in differentiating its products from its customers and thereby gains a competitive advantage over them. Amreteck Group Amreteck Group (AG) is a pharma service company that is specializing in arranging investment funds/investors, financing and is supporting different mergers for the pharmaceutical companies in the United States and several countries in South East Asia. Amreteck Group helps companies to export their products in Least Developed Countries (LDC) and also assists in locating local distributors and the products registration process in full completion. Amreteck Group is involved with several local Bangladeshi pharmaceutical companies to capitalize on the countrys low cost environment. AG is adopting the overall low cost strategy to find new ways in production cost reduction, new product development that can be manufactured at low cost and marketing managers to search for ways of cost reduction in-order to be able to attract customers. Toyota Toyota Motor Corporation is associated with the automotive industry. Its automotive operations include the design, manufacture, assembly and sale of passenger cars, recreational and sport utility vehicles, minivans and trucks and parts and accessories for these creations. Toyota is pursuing a combined cost leadership and differentiation business level strategy. Toyotas production system is actually the most efficient in the world as reported. This superior efficiency of Toyota gives the company a low cost strategy in the global car industry. Simultaneously Toyota is able to differentiate its products from its competitors. This superiority gives the company a leeway to charge premium prices to its elite models. Nestle Nestlà ©, todays worlds biggest food and beverage company has factories in almost every country in the world. Nestlà ©s existing products grow through continuous innovation and dedicated renovation while maintaining a balance in geographic activities and product lines. Nestles priority is to bring out the best products to people, wherever they are depending on their needs throughout their lives. Nestlà © believes in creating and maintaining a long-term commitment to the health and well being of people in every country in the scope of its operations. Nestle follow the business level strategy-namely the differentiation strategy to reduce the risk of complexity of supply chain and lower attractiveness for discounters. PepsiCo,Inc PepsiCo, Inc. is one of the largest food and beverage companies in the world. The companys principal businesses include Frito-Lay snacks, Pepsi-Cola beverages, sports drinks, Tropicana juices and Quaker Foods. Pepsi Co strictly follows the differentiation strategy. Their ability to continuously and sincerely innovate is their competitive advantage. Pepsi looks for opportunities to capitalize on the value of their prestigious brand of products by developing new and innovative products. Pepsi is able to fill consumption gaps, clearly identify the consumers changing needs and contribute to create both healthier and indulgent choices, thus bringing more enjoyment to their lives. Wal-Mart Stores Wal-Mart stores (founded in 1945) are a US retailer and are reportedly the largest retailer in the world as of 2009. This store which was originally started by Sam Walton is grouped into Division One (Discount Stores, Supercenters and Neighborhoods Markets) and SAMs Club. This retailer is pursuing the overall cost strategy to find new ways in reducing the costs of the products that are being displayed in their shelves. Wal-Mart Stores critically negotiates with its suppliers for low priced items to bring forth their Everyday Low Price philosophy. Being a huge market player, Wal-Mart is able to dictate the pricing of products so much so that it led to the bankruptcy of its competitor K-Mart. Its other nearest competitor Target is forced to offer products that were not offered in Wal-Mart because it could not compete with Wal-Marts prices. Wal-Mart Stores is pursuing and adopting its strategy successfully and is able to gain a competitive advantage over its competitors through continuo us low pricing of its products.

AIDS :: HIV Diseases Health Medical Essays

AIDS Sub-Saharan Africa is the region of the world that is most affected by HIV/AIDS. An estimated 26.6 million people are living with HIV/AIDS and approximately 3.2 million new infections occurred in Sub-Saharan Africa in 2003. In just the past year the epidemic has claimed the lives of an estimated 2.3 million Africans. Ten million young people (aged 15-24) and almost 3 million children under 15 are living with HIV. An estimated eleven million children have been orphaned by AIDS in Sub-Saharan Africa. This is not just an African problem this is a world wide concern. It is estimated that over 50 million world wide have contracted the HIV/AIDS virus. (www.avert.org/aafrica.htm) Why during such an epidemic are drugs not reaching the people who need them? There are a few issues surrounding the distribution of these and other drugs including market size, patent laws, compulsory licensing, and price discrimination. Pharmaceuticals have played a key role in improving health world wide. Health trends in the 20th century have had significant improvement due to vaccines and other technological advances. It has been shown from 1962-1987 that a 74 percent decline in infant mortality rates can be attributed to technological advances. (Journal of Economic Perspectives) However, distribution in developing countries is still in dire need of improvement. A major reason for lack of access to pharmaceuticals in developing nations is the size of the market and the lack of revenue that can be obtained from consumers there. As shown in Table 1 from the Journal of Economic Perspectives the US holds almost 40 percent of the world’s pharmaceutical market while Africa has only l percent. The market in Africa and other developing nations is significantly smaller, â€Å"Drug developers often do not even bother to take out patents in small, poor countries† (Journal of Economic Perspectives p70). Diseases in developing countries mainly infectious and parasitic diseases differ from the noncommunicable conditions found in more developed countries, the high cost of research and development and the low payback from consumers in developing countries deter pharmaceutical companies from investing time and energy into diseases that mainly affect developing nations. Developed nations spend an average of $4,000 per person per year on health while developing nations spend on average less than $20 per person. Such a large gap in health spending does not give pharmaceutical firms an incentive to provide research and development in these areas.

Being a Professional Teacher

â€Å"Education is a powerful weapon which you can use to change the world† –Nelson Mandela- The term education above is having so powerful role for human’s life described by Nelson Mandela, President of South Africa. It means that education has a very important role for everything in this entire world. No human beings are able to survive properly without education. Education tells us how to think, how to work properly, how to cook, how to survive, how to make a decision, etc. through education only one can make separate identity.It is the most important thing besides our basic needs such as: Clothes, food, shelters or houses. For the first we learn to interact each other, as we know that we are social creature created by God. We learn to make friends because of education too. Since we were enrolled to a school by our parents, we didn’t learn only alphabet, number, reading etc, but we also made friends. We interacted with them with teacher. It shows us how important the role of education is. According to Wardiman Djoyonegoro, the ex of Ministry of Education affair â€Å"At least there are three aspects which are able to develop education properly. ) facilities, 2) The quality of the books, 3) professional Teachers and educational staffs†. From the above explanation from Wardiman, I ound it interesting to write about professional teacher and why teacher is being favorite job for me. From Dutch colonization era, there have been the term teacher, so close, so important and seems like spearhead rather than just â€Å"a smart and experienced people†. They’re so sharp, so kind even so hard. But that’s a teacher. Being a professional teacher is so interesting and will be respectable.But it’s not as easy as tearing a paper. It needs a lot of sacrifices, morally and materially. This country needs so many professional teachers and staffs. So that educational development will be as wonderful as snow in the des ert. Here some characteristics of professional teacher: Teachers should have a load of energy for their students. They care the students in every conversation or discussion they make with the students Having obvious purposes. They know the purpose each their lesson they will give and work all out to fulfill the purpose.Having a good creativity to make the students discipline and having a good class management They are able to communicate with the parents and also keep in touch with the students’ parents. They have a high hope from the students and encourage students to have a good achievement. If we have applied those all, surely we are being favorite teachers and will be respected by all. This is the reason why teacher should be our favorite job. Being a teacher is my decision when I enrolled to my collage STKIP PGRI Jombang.I decided to be a teacher when I’d graduated from this collage. When I was child, my mom told me that the smartest people is teacher. The preside nt became a president because of teacher. On that time I just imagined how wonderful they are and I decided that teacher would be my dream when I grew up. Hat’s only a piece of funny thought of mine. Now I realize I should be a professional teacher. Why? Looking back at the educational system of Indonesia, it’s so heart-touching when I see there are so many children have no chance to going to school, especially in remote area.Education now seems just for the high class people. Although there have been a law rule in UUD 1945 about Educational budget is 20%, education is free for the poor people. Thos are so far away if we look back the education in remote area. So how come the government does ask to the citizen to have higher education if the fee is not payable? That’s why I really want to be a teacher in remote area especially. At least I can contribute for my beloved country although I’m not a soldier or police who keep this country.

Video Production essays

Video Production essays Video production is something I have been doing for approximately 5 years now and I continue working with it as a hobby and a part time business. The field of video production is growing rapidly in many exciting and new ways, one of which is film now undoubtedly film is larger than any time it has ever been, it is no longer the way it use to be where the story and the direction were the main aspects of making a hit. New technology has led to new advances in film such as 3d Animation and sound production, movies now are rated for things like sound quality and production, special effects and quality of production where a few decades ago a good flick became a good flick because of the way it was filmed and the story it told. In other ways video production has been growing technologically as well as artistically, it is becoming more and more competitive to make a good video for even simple businesses like those who film events. In my field I film events like weddings and engagements, and believe it or not even though it doesnt sound like such a huge job, I believe that the minimum budget for such a business lies somewhere around fifty thousand dollars, most of which would be spent on a six thousand dollar camera, a three to six thousand dollar editing station and that is not counting miscellaneous equipment like batteries and tape. Why tape you ask? Well DV and MiniDV is becoming a standard format which you can use over and over as if it were a hard drive, well in a sense it is because unlike the conventional VHS tapes that record picture magnetically on a strip of tape, DV records or better said encodes data on tape in a similar way as a floppy would, which is the very reason why the quality is so good. Besides having an eye for video and knowing what to do when looking through a viewfinder, pretty much being your own director/camera man it takes a good amount of skill and artistic qualities to edit and pr...

Prompts That Support Instruction and Independence

Prompts That Support Instruction and Independence Independence, completing a task or exhibiting a behavior without prompts or cues, is the gold standard of special education. The kind of support we give students to help them succeed in special education is called prompting. The level of support falls on a continuum, with the most invasive and furthest from independence, to the least invasive, or the closest to independence. The prompts at the least invasive end is also the easiest to fade, or slowly withdraw, until the child is accomplishing the task independently. The most severely cognitively, multiply or developmentally disabled students may need very high levels of what is called â€Å"hand over hand† support. Still, kids with specific learning disabilities who may have attention deficit disorder with some reading and math difficulties may need prompting to stay on task and complete tasks. They are just as prone to become â€Å"prompt dependent,† which may leave them incapable of achieving the gold standard: independence. Because of â€Å"prompt dependence† it’s important that a special educator understands how to work across the continuum, from hand over hand, the most invasive, to gestural prompts, the least invasive. As the teacher moves across the continuum, the teacher is â€Å"fading† prompts toward independence. We review the continuum here: Hand over Hand This is the most invasive of the prompts, and is often only required for the most physically disabled students. The teacher or coach may actually place his or her hand over the students hand. It isn’t necessarily just for the most physically disabled student: it works well with young students on the autism spectrum, older autistic students with unfamiliar tasks like sweeping, and even younger students with immature and undeveloped fine motor skills. Hand over hand can be faded by lightening your touch to a simple touch on the back of a hand or arm to guide the student though the task. Physical Prompts Hand over hand is a physical prompt, but physical prompts can include tapping the back of a hand, holding an elbow, or even pointing. Physical prompts may be accompanied by verbal prompts. As the verbal prompts stay in place, the teacher fades the physical prompt. Verbal Prompts These are most familiar. We tell the student what to do: sometimes step by step, sometimes with more detail. Of course, if we talk all the time, our prompts get ignored. You can also design verbal prompts to fade from most complete to least complete. Example: â€Å"Bradley, pick up the pencil. Bradley, put the point on the paper. Circle the correct answer. Good job, Bradley: Now, let’s do number 2. Find the correct answer, etc. . . .† Faded to: â€Å"Bradley, you have your pencil, your paper and we have done these before. Please circle each answer and put your pencil down when you are done.† Gestural These prompts should begin with a verbal prompt: they are easy to fade and are the least invasive. Be sure you don’t become so used to your verbal prompts that all you’re doing is running your mouth. Shorten those prompts and trust the gesture, whether it’s pointing, tapping or even winking. Be sure the student knows what you are requesting with the prompt. Gestural prompts are especially successful with kids with developmental or behavioral problems. Alex, who is featured in the article on making your own social narrative, sometimes forgot and would drool. I taught my wife, his teacher, to touch her chin with her forefinger to remind him: Soon all she had to do was move her hand a certain way, and he remembered. Visual Prompts These prompts can be paired with other prompts initially, and as they are faded, the simple visual prompt can remain.   Typical (children without disabilities in general education programs) also benefit from visual prompts.   Teachers have noted that children will reference the place on the wall where a graphic organizer for a specific skill used to be, noting that the mere act of remembering where the visual prompt was on the wall helps them remember the CONTENT of the prompt! Independence: The goal. The continuum: Hand over Hand Physical- Verbal- Gestural- Independence.

A Destination Management Report On Singapore Tourism Essay Essay Example

A Destination Management Report On Singapore Tourism Essay Essay Example A Destination Management Report On Singapore Tourism Essay Essay A Destination Management Report On Singapore Tourism Essay Essay Travel and touristry attending has the heading upon all sides in many states particularly due to the capableness to emanate over-abundance for the economic system. The industry is counted as the individual of the many critical setup of income every bit good as foreign exchange. Travel every bit good as Tourism commercial operation particularly emphasizes to magnetise the aliens. There have been infinite illustrations of touristry finishs around the existence that have been adversely impacted upon by touristry development. Tourism preparation formed upon the doctrines of sustainability has emerged as the individual of the many extended every bit good as supposed attacks. However, the tolerable proceed to tourism preparation flexible joints upon double base on balls cautions foremost an drawn-out bend of assorted stakeholder visual aspect in the touristry preparation modus operandi is mandatory every bit good as secondly, the demand for the critical class towards touristry preparation ( Simpson, 2001 ) . While Ritchie and Crouch ( 2000 ) explain that more finishs have been taking advantage of critical positions towards touristry development, Simpson ( 2001: 4 ) finds that although the constructs of stakeholder visual aspect every bit good as critical class have been at big permitted as profitable subscribers to tolerable development, there have been no anterior efforts to subscribe the boundary line to that such considerations play their function in echt cosmopolitan touristry preparation processes. The foremost impending of this investigate is rather straightforward, to coop down the touristry planning and policy of the tourer finish. The literature is chiefly focused on stigmatization, fiscal and merchandise development policies of the selected finish. Finish can be fundamentally described as a topographic point in which touristry is relatively dominant concern and the chief economic activity that contributes to the local and national authoritiess. The construct of finish direction as a affair of fact is hence a complex one since a peculiar topographic point regarded as a finish may be covering a broad country like a city, a part, a whole province or sometimes an full state for illustration the Caribbean Island. Ritchi A ; Crouch ( 2003 ) indicated that running and administrating topographic points frequented by tourers is a critical constituent of being in charge of the effects and amendss brought approximately by touristry. For illustration in tourer finishs like sub- Saharan Africa where game observation is the outstanding tourer attractive force, disposal of such topographic points is of kernel in order to retain the natural environment where game animate beings live and to deter unsustainable human activities every bit much as possible. Destination direction is composed of adjudication and allotment of available infinite, publishing trading licences for circuit operators and hotel proprietors, developing and implementing operational policies, safeguarding the Parks or the museums, outlining authorities and local support plans and set abouting related relevant activities or intercessions that will assist in progressing advancements and twenty-four hours to twenty-four hours running of visitants finishs and associated events. Roland A ; Buck ( 2008 ) Indicated that the presence of power and authorization over these topographic points as may be represented by the county councils or national authoritiess, non for net income organic structures, particular involvement groups, the experts and bookmans on environment and the place concern council signifier what is known to be destination direction society. A group composed of tourer operators, logistic houses, Lodge and bistros, sites, game Parkss, museums and others form a bulk part that makes a finish. Another issue that should be taken into history is the agencies through which the selling would be done. Most finishs use the cyberspace and telecasting. The publicities about the Forth coming universe cup in South Africa may be a good instance survey. It must be noted that direction of a individual finish is different from another s because the demands, size and the location of the country it covers and the figure of interested parties may differ. Selling is a commercialism term which refers to actions taken by a concern in order to fulfill its clients on a continued footing and accomplishing the gross revenues projections it set out. Selling is a calculated measure of actions that are taken by concerns which sell its goods and services in a market where rivals are many. Customers would ever desire to take the best trade goods of those available in the market. To make purchase over the rivals and to pull every bit good keep a desirable market portion, houses must incorporate selling into their operations. Finish selling can hence be defined as a witting attempt by touristry direction establishments to sell a certain tourer attractive force topographic point or activities to prospective tourers, to run into their gross revenues projections and keep a ample per centum of market portion compared to other finishs. Several factors are considered when marketing a finish. For illustration, the mark tourers must be identified, their demands taken into history, the rivals must be known, finding the fees and monetary values paid and so on. Pike ( 2004 ) indicated that several involvement groups every bit good as authoritiess, who depend on a given finish, are necessary for them to come together for the intent of marketing it. They could accomplish this by holding on standardising the services they offer, lending money for joint advertizements and bettering the touristry installations in and around the finish. However there is a concern by perceivers that these several parties have divergent involvement in the sense that they collude to market the finish they operate from while besides viing amongst themselves. A point that should be taken into history is that concerns in a tourer finish are the major subscribers to marketing attempts while the governments are concerned about pull offing the finishs. Finish planning can be defined as premeditated attempts by touristry concerns and governments to set up and fix a tourer attractive force topographic point or activities with the purpose of recognizing order and harmoniousness in their operations. Harmonizing to Clare A ; Turgut ( 2006 ) without a program, there would be apparent disorganisation with respect to service bringing. It obviously acknowledged all over the universe that it is necessary to use the usage of better options in puting up every bit good as bettering the tourer attractive force topographic points. This takes two dimensions. One is of offering the tourers an first-class value for money in the services provided. The 2nd dimension takes into history the effects of human activity on the environment. It besides involves the development and betterment of communicating and conveyance webs around and within the finish together with linking this concern to supplementary cost effectual industries. Furthermore, there is an facet of working with and incorporating the neighboring group of occupants. This is because the finish might be their hereditary land and of economic value by virtuousness of them working and populating at that place. Adequate planning besides checks unrestrained or illegal touristry. Singapore as a tourer finish Singapore is an international tourer finish with first-class BASIC and general substructure, a great scope of activities, events and amusement. It is regarded as a finish of household oriented, safe, modern, shopping Eden, plentifulness of Sun and good nutrient. It besides features one of the most efficient airdromes in the universe and a national air hose with strong repute for dependability and service ( Wan T.W.D. A ; Hui T.K. 2003 ) . Singapore has a great potency to pull tourer, as it is a way station for many other states and considered as a tourer hub. The state has been ranked 5th in planetary fight in 2009 by universe economic forum, which reveals its direction and selling efficiency. Even though the state does nt hold an sole ministry for touristry, the political will and back up for touristry industry is great. Singapore experienced visitor reachings of 10.1 million and touristry grosss of 15.2 billion in 2008 and the authorities is aiming ternary touristry grosss by 2015. Singapore touristry board Singapore touristry board is the supreme finish direction administration ( DMO ) for touristry in Singapore which have four divisions viz. touristry selling, corporate services, touristry concern and regional selling, under ministry of industry and trade. Apart from touristry publicity, STB besides performs the function of economic development for touristry industry. The mission of STB is to guarantee the place of touristry as a cardinal economic pillar of the state through good thought out scheme in coaction with public and private sector stakeholders. STB besides strives for exciting and advanced experience for the visitants in close partnership with little and average endeavors. The cardinal focal point countries of STB are heightening place of Singapore as a taking convention and exhibition metropolis in Asia , developing the state as a taking Asiatic leisure finish and set uping Singapore as service Centre of Asia . Harmonizing to the Singapore tourism board act, the maps of the direction include: Promotion and development of Singapore as a tourer finish Advice the authorities on affairs sing touristry Maximize the part of touristry sector to the national economic system. Regulation maps of touristry endeavors Develop new touristry merchandises Develop finish selling runs Encourage investings in touristry substructure Tourism policies DMO of Singapore is good cognizant of the entire system definition of the state as a tourer finish since its independency, which is apparent from good defined, efficient and dynamic touristry policies. The direction of touristry in Singapore has undergone assorted alterations over decennaries and the current touristry schemes are based on three focal points ; promoting its place as taking exhibition and convention metropolis in Asia with strong and dynamic concern environment, taking Asiatic leisure finish, and the service Centre of Asia. The encompassing cause of opposite policies every bit good as schemes directed during compelling and defending touristry in Singapore has been theme to socio mercantile alterations upon an internal every bit good as telluric foreparts. A deeper deal of issues sing touristry growing in Singapore necessitates an scrutiny of a behind combatant of these hurdlings as they describe to sold amicable mercantile every bit good as domestic conditions of Sing apore. Singapore touristry board has sought to be variable to alterations in a wider socio mercantile environment. Tourism policies every bit good as schemes have to exemplify largely corresponded to telluric forces transition tendencies in touristry every bit good as mercantile growing and responded to internal factors such as going different amicable conditions in a metropolis province. Branding A ; selling scheme The dramatic betterment in Singapore s engineering has lead to a displacement in its trade name scheme where it was ab initio known as instant Asia since its independency in 1965. After a period of clip, Singapore touristry board has deployed the trade name Uniquely Singapore ( authorities of Singapore 2006 ) to showcase the individuality of the state, which has now evolved as yoursingapore . Different ministries and statutory organic structures of Singapore are marketing the state with different trade names utilizing different images. For this ground, Singapore has an umbrella placement exercising in topographic point to organize the attempts of different bureaus and statutory organic structures. STB has derived good thought out schemes to pass on the trade name image to all domestic and abroad stakeholders and of class the possible travelers. Singapore has recognised the possible value of the trade names and has good addressed the affair by using professional selling methods and schemes. It besides realises the potency of mega events in advancing the trade name and is making the best to pull such events to the state in concurrence with the authorities ( for illustration, formulae one race and young person Olympics ) . Enterprises have besides been taken to hike up the trade name image through media and engineering which could convey about a great positive impact to the state s repute. STB communicates the trade name yoursingapore through its 18 abroad offices and assorted media like advertisement, picture taking, booklets, on-line enterprises and besides the movie industry ( movie in Singapore strategy ) . The website www.yoursingapore.com delivers a new experience that no other touristry finishs are presently offering. STB gives equal importance to trade name consciousness by travelers every bit good as occupants and several enterprises has been taken in macro and micro degree to turn to this. It besides claims that the trade name is globally good known which is evident from consciousness and callback among the mark markets. A few studies have ranked Singapore s trade name among the top in footings of all bulginess, consistence, economic environment and domination. STB is besides endeavoring to tie in the trade name with positive facets like topographic point of chance, creativeness, research and development. Since the size of the state is smaller, it s relatively easy for STB to stand for the state in a holistic manner without a quandary of which one to concentrate on. Singapore sees branding as a platform for selling, advertisement and public dealingss attempts of the state. Gaining the fact that Singapore is already advanced in landscape and engineering, the selling focal point has shifted from difficult facets to soft facets like life style, visitant experience and advanced touristry merchandises and services. This is apparent from a figure of new touristry developmental schemes implemented to accomplish the vision of touristry sector to be a prima economic development bureau in touristry, known for partnership, invention and excellence . The above said schemes include publicity and encouragement of diverseness, experimentation, invention, high degree of client service, IT oriented concern frame, strategic confederation and so on which underpins the finish vision. The state is good turn toing the issue of transforming the old mentality of international audience and market the current world as a dynamic and culturally vibrant metropolis. Singapore is besides an illustration of glocalisation ( Foley M. et.al 2006 ) by progressively distinguishing visitants, by invention of consumer traditions in footings of selling. Merchandise / Facility development scheme With the image of a high tech metropolis, touristry merchandises and services of Singapore has ever been go arounding around engineering, irrespective of the fact that the acceptance of engineering in touristry sector is relatively low. The merchandise and service development in touristry, cordial reception and retail sector is being differentiated with the 10 twelvemonth maestro program of engineering viz. intelligent state 2015 ( iN2015 ) . iN2015 is a maestro scheme to maximize the usage of engineering in all economic sectors including touristry across Singapore. iWealth is another direction policy under iN2015, seeks to beef up Singapore as a wealth direction Centre. It besides promote investings and merchandise development to enable better hazard direction and timely market of advanced merchandises and services. With a clear matter-of-fact vision of touristry and cordial reception industry, the schemes are concentrated on three chief countries. In the first scheme, the mentality has gone beyond visitant experience to superior visitant experience with seamless and individualized service. The two programmes under this scheme are digital concierge and speedy enrollment for visitants. The 2nd scheme focuses on bettering industry efficiency by following more engineering and supply concatenation integrating, where as the 3rd policy ponder on development of new thoughts using engineering in the touristry industry. The support for inciting engineering in touristry is good taken attention by the authorities with a strategy called touristry engineering fund of S $ 10 million, which is a accelerator for iN2015 to transform the touristry industry and prolong long term. In add-on, STB is besides looking frontward for immense undertakings like universe s best shopping composite in grove route and iconic r esorts to better touristry attractive forces. Fiscal policy The touristry industry in Singapore has got a great degree of political will and back up which accordingly lead to sound economic policies for developing and prolonging touristry growing. Tourism industry in Singapore is funded 100 % through STB, by the authorities, from hotel room dark revenue enhancements, ( SRI international 1999 ) which is 4.6 % of the entire authorities outgo. Apart from this STB besides receives financess from private sector for joint ventures. STB is a spearhead for touristry development in close coaction with public and private sectors to accommodate a comprehensive and holistic attack to construct a strong economic policy to deduce greater economic growing. The abolishment of its long standing prohibition of chancing and casinos by the authorities resulted in immense addition in visitant reachings and later larger economic growing. As such, liberalization and long-short term inducements in the conveyance industry have lead Singapore to emerge as a Marine and air power hub in Asia. STB in association with the authorities has come up with assorted economic policies to help countries like investing publicity, merchandise and industry development, fiscal grants and revenue enhancement inducements to foster develop Singapore as a tourer finish and prolong the economic growing. The economic policies are as follows ; Tourism development aid strategy ( TDAS ) to speed up the gait of touristry development in Singapore. Double revenue enhancement tax write-off for inward touristry publicity and local trade exhibitions to promote private sector to market Singapore in local and abroad trade carnivals and exhibitions. Investing allowance strategy for flagship constructs to advance investings in little and average endeavors and amusement. Concessionary revenue enhancement rate for mega events to pull event organizers to present Singapore for mega events. Film in Singapore strategy ( FSS ) to promote and pull movie shapers to hit in Singapore ( See the positive image created for Newzealand through the movie Godhead of the rings ) . Be in Singapore inducement strategy to advance and spread out concern events in Singapore. Appraisal of schemes Branding A ; positioning The stigmatization scheme of Singapore mostly influences the manner they want their mark market and the touristry industry as a whole to see the state in footings of tourer attractive forces merely as the manner it should be harmonizing to Ritchie and Crouch ( 2003 ) . YourSingapore differentiates Singapore s deserving stamp from which of rivals ; guaranting Singapore corsets applicable every bit good as constrained to today s travelers, as codification equity every bit good as codification recall impact visitant reachings every bit good as touristry grosss. YourSingapore is an advanced judgement which focuses upon personalisation every bit good as an aberrance of Singapore and knowledge to any visitant. It uses a smart platform, www.yoursingapore.com, to merely capacitate travelers to restitute their preferable Singapore experience into world. Yoursingapore s digital attack in branding/positioning, blogging, societal media monitoring, and travel e-commerce can sharply heighten pre-e xperience choice, such as designation, distinction, expectancy, outlook and rhenium confidence, while assuring truth in the advertisement policy as Crouch and Ritchie recommends. Consolidation and support of station -experience remembrance is besides successfully accomplished by the trade name image of Singapore with its efficient communicating web. The thought of trade name umbrella besides helps STB to consolidate the attempts of different bureaus in Singapore to market it and at the same clip coordinating and heightening the position of the whole community. While the trade name images place the finish among the mark markets, the policy of altering the trade name names by Singapore from instant Asia to Uniquely Singapore and further to yoursingapore is to be scanned for what impacts it brings about in the head of tourers around the Earth. STB s Assistant main executive of marketing Ken Low justifies the policy that a trade name s life span is non more than seven old ages. But it should be considered that many other trade name runs have been in action for decennaries and still efficient. Merchandise / Facility development This phase of be aftering stage of Singapore could be considered as efficient and effectual as they are good directed towards two subjects out of three, prescribed by Crouch A ; Ritchie such as installation planning for competent finish, new and advanced event development for touristry attractive forces sweetening. However, schemes for spread outing and beef uping STB through ranks are non noticeable in the touristry policy context of Singapore. It can be seen that the nature of Singapore touristry policies is regulating the touristry sector entirely by public sector with limited private sector engagement, which is so competent. iN2015 would be a great advantage for touristry merchandises and service development in Singapore sing the current unprofessional operations in a major portion of nutrient and retail sector which frequently consequences in making unsought visitant readings. The undertaking is expected to supply the single tourers with satisfying and disputing experiences to a great extend. Financial resource scheme The rapid growing of industries reveals the efficiency of economic policies of Singapore of all time since it is independent and when it comes to the new epoch policies for touristry economic system, the changeless addition in touristry grosss which reached S $ 15 billion in 2008 divulges its effectivity. As recommended by Ritchie and crouch ( 2003 ) and Tourism Working Group, aggressive schemes are developed to pull planetary participants for investing publicity, therefore raising more capital through revenue enhancements from private sector for touristry growing. Investment allowance strategy, BE in Singapore strategy, and concessionary revenue enhancement rates along with free trade policy are a few illustrations of these policies. These are cardinal fiscal policies to increase revenue enhancement returns with other supplementing schemes, sing that touristry industry in Singapore is 100 % funded by the authorities through revenue enhancements from the touristry concern itself. The re are no seeable policies of raising debt and equity capital or direct support from private sector which is non much necessary for Singapore with greater concern investings from foreign and private sector. Apart from public support, STB besides aims to promote investings from private sector for substructure development and joint touristry promotional runs. In contrast, Singapore has a mix of good defined public and private sector support policies, which is an ideal theoretical account of fiscal resource policy. The cost effectivity of policies like revenue enhancement tax write-off and non revenue enhancement inducements on offer is, nevertheless, unfastened to inquiry. Decision From the analysis and appraisal, it is apparent that Singapore has a proactive attack which tries to accomplish a vibrant touristry finish through forward planning, timely intercessions, policy and infrastructural development. Whereas, the positive results of finish development may be attributed to integrating, flexibleness and strong aspiration of the policy and scheme. The engagement of the authorities in touristry has been positive and likely to be continued so. Most policies of STB and authorities seem to function the touristry practicians better, instead than policy shapers. This is a cardinal constituent of policies in order to promote practicians to implement theoretical policies into pattern. Success of Singapore as a sustainable and competent touristry finish depends largely upon the effectivity and efficiency of policy and planning, every bit far as Singapore touristry board is examined. The balanced trade name scheme of Singapore places itself in its niche markets, whereas, selling, merchandise development and fiscal policies acts as a accelerator to hike up touristry grosss at the same clip, sustainably viing in the international touristry market.

Difficulties of Implementing Motivation to Modern Work Place Essay

Difficulties of Implementing Motivation to Modern Work Place - Essay Example The manager should realise that mental revolution is necessary which may push the organisation members to go to work willingly and enthusiastically. Highly motivated people will require lesser control to ensure the organization that work will be executed on time. However, it should not be misunderstood that motivation is a substitute of planning organising and controlling. There have been a lot of difficulties in implementing motivation to the modern work place. This is because a man's behaviour is related with the form of behaviour, a man presents to the work. This is related to the motivating factors that are inherent in the man and affect his behaviour on the work. Analysing the human behaviour can search out this motivation factor. There are reasons as to why a man behaves in a particular manner. If a man does not behave properly, we must understand that there is something wrong with him and the organisation should take proper care in analysing and if possible in eliminating that reason. For that purpose, the management must have a full knowledge of human behaviour. Need* is one of the motivating factor. If a person behaves properly, it means his needs are satisfied and if his needs remain unsatisfied, his behaviour cannot remain satisfactory and he will behave in a negative way. A person joins an organisation and brings with him certain needs that affect his job performance. Some of these needs, a man cannot survive without * Include both what a person must have and what he merely wants to have. them such as food, clothes and shelter. However, some other needs have psychological and social values. We have primary and secondary needs and primary needs are satisfied first and other needs come later. He tried to give needs a priority order as physiological, security, social, esteem and self-actualisation. The management and employees try to satisfy these needs in that priority order. Abraham Maslow suggested the following hierarchy of needs which an individual attempts to satisfy them in this order: Basic physiological needs; safety and security needs; belongingness, social love needs; esteem and status needs; and self actualisation or self realisation or self fulfilment needs. Maslow's central theme revolves around the meaning and significance of human work and seems to epitomize Voltaire's observation in Candied, 'work banishes the three great evils -boredom, vice and poverty'. The great sage Yajnavalkya explains in the Brihadaranyaka Upanishad that by good works a man becomes holy, by evil works evil. A mans personality is the sum total of his works and that only his works survive a man at death. This is perhaps the essence of Maslow's hierarchy of needs theory, as it is more commonly know. Maslow's major works include the standard textbook. Maslow's theory of human motivation is, in fact, the basis of McGregor's theory 'Y' briefly described above. The basic h uman needs, according to Maslow, are: physiological needs; safety needs; love needs; esteem needs; and self-actualisation needs. Mans behaviour is seen as dominated by his unsatisfied needs and he is a 'perpetually wanting animal', for when one need is satisfied he aspires for the next higher one. This is, therefore, seen as an ongoing activity, in which the man is totally absorbed in order to attain perfection through self-development. The highest state of self-actualisation

Multinational firms are a force for progress‟. Discuss Essay

Multinational firms are a force for progress‟. Discuss - Essay Example That is exactly what we will be discussing in this paper. Let us first see what a MNC really is. According to D. H. Robertsons â€Å"Multinational corporations are a substitute for the market as a method of organizing international exchange. They are islands of conscious power in an ocean of unconscious cooperation† (Hymer,S. 1994). They are powerful organizations whose power commands most countries and governments. Now my question is that how can that be a wonderful thing, when there is no one to protect you interests. It in layman term means ‘survival of the fittest’. But what happens to those who don’t have the strength that others have. Well they are doomed. In the long term as well as short term. So is that a good thing. If you are one of the weak would you be happy about this? In this research paper I am going to outline, as stated by Margaret House, the costs MNC’s incurs for Developed/Advanced nations and Developing/Underdeveloped nation. I am going to outline the implications MNC’s has on the world as a whole. First let us look at the terms Developed/Advanced nations and Developing/Underdeveloped nations. Developed countries are those nations having an elevated level of development in regards to GDP, Industrialization, Human development index, etc. In other words countries which are economic super powers like the Japan, United States in North America, Canada, Australia, New Zealand, most of Europe, etc. (United Nations, 2009). On the other hand developing economies  are nations that posses low levels of material well being. Countries such as Bangladesh, Pakistan, India, Nepal, Mongolia, Zimbabwe, Mexico, etc. (United Nations, 2009). Now moving on to the diverse effects MNC’s is bound to have. First let us see what effect MNC’s will most definitely have the on jobs in developed economies. As it is well known that the cost of

Renal system Essay Example | Topics and Well Written Essays - 1000 words

Renal system - Essay Example In intrinsic or renal type, structural and functional damage of nephrons occurs due to inflammatory, cytotoxic or inflammatory insults to the kidney. In postrenal kidney injury, there is obstruction to passage of urine. Acute renal failure can be oliguric or nonoliguric. In the former type, the daily urine volume is less than 400ml/day. The prognosis in this type is usually poor except in prerenal cases. Urine output of less than 100ml per day is anuria and occurs when there is bilateral obstruction or injury to both kidneys (Workeneh, and Batuman, 2011). 2. Tests useful in the management of acute renal failure are serum biochemistries, complete blood picture, urine analysis and urine electrolytes. Ultrasonography is useful is ascertaining the cause of renal failure, especially if the failure is due to obstruction. The hallmarks of acute renal failure are serum creatinine and blood urea nitrogen , both of which are elevated. However, the levels of these substances and the rate of ris e depend on the degree of insult to kidneys. It is important to ascertain the ratio of BUN to creatinine. When the ratio is 20:1, is suggests enhanced absorption of urea, suggesting prerenal injury. BUN may be elevated in other conditions like gastrointestinal bleeding, steroid administration and loading of proteins. rise of serum creatinine by more than 1.5mg/dL/d warrants evaluation for rhabdomyolysis. Complete blood picture provides an overview of the anemia and leukocytosis. Peripheral smear shows schistocytes in conditions like hemolytic uremic syndrome. Increased formation of rouleax is suggestive of myeloma and the workup must be directed towards serum and urine immunophoresis. Other tests which help in detecting the etiology are presence of free hemoglobin, free myoglobin, increased levels of serum uric acid, serological tests like antinuclear antibody, antistreptolysin antibody and serum complement levels. Urine analysis is a very useful investigatory tool. In tubular necro sis, granular muddy brown casts will be seen. In some cases tubular cast cells or oxalate crystals may be seen. Cola colored urine or reddish brown urine is suggestive of hemoglobin. Presence of significant proteinuria is suggestive of tubular injury. Presence of red blood cells in urine is suggestive of inflammation of glomerulus or bleeding in the collecting system. Presence of white blood cells or their casts in urine is suggestive of acute interstitial nephritis or pyelonephritis. Presence of eosinophils indicates allergic interstitial nephritis (Schrier, 2004). There are basically 3 stages of acute renal failure and they are oliguric-anuric phase, early diuretic phase and late diuretic phase. In the oliguric-anuric phase, the urine output is less than 400 ml/day. There is electrolyte imbalance, metabolic acidosis and raised serum creatinine and blood urea nitrogen. The phase lasts for about 14 days. In the early diuretic phase, the patient passes large volumes of urine, about m ore than 3000ml per day. This is because; the glomeruli are functioning but the tubules are not. The tests reveal electrolyte imbalance, metabolic acidosis and even raised serum creatinine and blood urea nitrogen. In the late diuretic phase, the urine output is still above normal limits. The urine specific gravity is rising. Fluid and electrolyte balances and acid-base balances are within normal limits (Schrier, 2004) 3. More often than not, the only symptoms of acute

Cyber Management Ethics Essay Example | Topics and Well Written Essays - 2750 words

Cyber Management Ethics - Essay Example They have abused it through downloading movies, downloading pornographic materials and/or pirated software. (Fox, M., Phillips, L. & Vaidyanathan, G., 2003) E-mail Accessed for Personal Benefit A statistic data from a pornographic industry consultant have noted that almost seventy percent of all visits to their website occur during the office hours or to be specific between 9 o’clock in the morning to 5 o’clock in the afternoon. According to the results received by Nielson or NetRatings, the online stock trading gets at least a ninety-two percent hits during the office hours and at least forty-six percent of the shopping done online during the holidays usually take place between nine o’clock in the morning to five o’clock in the afternoon. Another study made by Fox in 2002 showed that almost twenty five percent of employees in companies are suffering from addiction with the usage of the Internet. Another study conducted by Fox in 2002 was the activities th at were most addictive to individuals today. It revealed that gambling online has sky rocketed to the top five most addictive activities to individuals and translating it to a specific proportion would show that about eight percent of the respondents have become addicted to online gambling. (Fox, M., Phillips, L. & Vaidyanathan, G., 2003) Information Week also presented a study that predicted the amount of e-mail messages business organizations would receive that is based on their sizes. For example, the large business organization that has revenue of more than a billion dollars would roughly receive about two million and four hundred thousand e-mail messages a day and send around one... Cyber Management Ethics The paper analyzed the steps should be taken into account in order to change toward the new approach of stakeholder relationship to fit in the era of digital society. Furthermore, the method of literature review was applied as a basis of theoretical construction on stakeholder relationship approach that should be engaged in avoiding of the crisis. The sudden discovery of the World Wide Web or Internet and its usefulness to the business organizations has greatly affected the productivity of the employees within the business organization. It cannot be disputed that the impact of the internet would have both positive and negative influence and it is up to the business organization to determine if its positive the effect outweigth its negative effect. And, if the freedom of transactions presented by the internet is abused by the employees, it is the prerogative of the business organization to implement measures to curb or arrest any misfeasance or malfeasance. According to the statement made by Anandarajan, Simmers and Igbaria in 2000, these are some positive effects that business organizations could expect from the Internet to enhance the productivity of the organization where it has utilized the internet or the world wide web as their primary tool in completing and performing tasks. Examples of these tasks would be the analyzing, researching of data, the business organization would also have the shorter cycle times, products that would be marketed the costs that are related to the business organization would be reduced.

Johnny Cash, a description of addiction Essay Example | Topics and Well Written Essays - 250 words

Johnny Cash, a description of addiction - Essay Example ant point made in the biography is the loss which was caused by his addiction as he lost his family, his prestige and even his fans through missed concerts as he was feeding his addiction. While he realized that his addiction was costing him tremendously, he was unable to beat it until he recognized that his own spirituality and belief would help him get over it. After going through every drug he could possibly get his hands on, from alcohol and amphetamines to clinical pain killers, he understood that the drugs were not helping him at all. While they might take his pain away and allow him to forget about the pressures of life as a celebrity, they did not resolve the situation and the benefits brought about by them were only temporary. On the other hand, the damage they cause was permanent and irreversible. While the drugs were powerful indeed the only way he was able to deal with his dependence was to replace them and conquer them with something even more powerful, i.e. his spiritua lity and the relationship he was able to develop with

Event Risk Management Assignment Example | Topics and Well Written Essays - 1500 words

Event Risk Management - Assignment Example This is coordinated by the risk manager who controls the number of medical personnel to be present as well as the amount of equipments to be used. The equipments should be placed before the event begins. The personnel should also remain in place until the special event is over. There should be a communication plan to avoid conflict of interest in case of fire outbreak. According to Taylor (2002) the risk manager should plan for ambulances in case something happens. That is, the number of ambulances to be used as well as well as their passage to and fro the special event compound. People who reject medical attention should be documented to avoid legal issues later. There should also be a shelter to cater for the victims and medical personnel during rainy, sunny or extreme windy conditions. The medical official vehicles should also be secured to avoid cases of vandalism or theft. Fire incidences can quickly be controlled by the use of smoke alarms. Smoke alarms and sprinkler systems should be checked to reduce the spread of fire. Use of an evacuation plan is highly necessary especially for the old, disabled and children. The evacuation plan should be read and explained to the participants in advance. The evacuation plan should be pre tested and discussed by the various fire officials to prevent the actual fire incidence. The evacuees’ routes should be demarcated to necessitate ease during evacuation. Biochemical precautions should be taken care-of by consultations with the relevant experts. Biochemical hazards increase the intensity of the fire and it complicates the extinction of the fire (Taylor, 2002). The risk management team should ensure emergency power backups and phones are put in place to cater for emergences when need arises. Poison can be minimized by provision of hotline numbers for all poison control

Cyber Management Ethics Essay Example | Topics and Well Written Essays - 2750 words

Cyber Management Ethics - Essay Example They have abused it through downloading movies, downloading pornographic materials and/or pirated software. (Fox, M., Phillips, L. & Vaidyanathan, G., 2003) E-mail Accessed for Personal Benefit A statistic data from a pornographic industry consultant have noted that almost seventy percent of all visits to their website occur during the office hours or to be specific between 9 o’clock in the morning to 5 o’clock in the afternoon. According to the results received by Nielson or NetRatings, the online stock trading gets at least a ninety-two percent hits during the office hours and at least forty-six percent of the shopping done online during the holidays usually take place between nine o’clock in the morning to five o’clock in the afternoon. Another study made by Fox in 2002 showed that almost twenty five percent of employees in companies are suffering from addiction with the usage of the Internet. Another study conducted by Fox in 2002 was the activities th at were most addictive to individuals today. It revealed that gambling online has sky rocketed to the top five most addictive activities to individuals and translating it to a specific proportion would show that about eight percent of the respondents have become addicted to online gambling. (Fox, M., Phillips, L. & Vaidyanathan, G., 2003) Information Week also presented a study that predicted the amount of e-mail messages business organizations would receive that is based on their sizes. For example, the large business organization that has revenue of more than a billion dollars would roughly receive about two million and four hundred thousand e-mail messages a day and send around one... Cyber Management Ethics The paper analyzed the steps should be taken into account in order to change toward the new approach of stakeholder relationship to fit in the era of digital society. Furthermore, the method of literature review was applied as a basis of theoretical construction on stakeholder relationship approach that should be engaged in avoiding of the crisis. The sudden discovery of the World Wide Web or Internet and its usefulness to the business organizations has greatly affected the productivity of the employees within the business organization. It cannot be disputed that the impact of the internet would have both positive and negative influence and it is up to the business organization to determine if its positive the effect outweigth its negative effect. And, if the freedom of transactions presented by the internet is abused by the employees, it is the prerogative of the business organization to implement measures to curb or arrest any misfeasance or malfeasance. According to the statement made by Anandarajan, Simmers and Igbaria in 2000, these are some positive effects that business organizations could expect from the Internet to enhance the productivity of the organization where it has utilized the internet or the world wide web as their primary tool in completing and performing tasks. Examples of these tasks would be the analyzing, researching of data, the business organization would also have the shorter cycle times, products that would be marketed the costs that are related to the business organization would be reduced.

Event Risk Management Assignment Example | Topics and Well Written Essays - 1500 words

Event Risk Management - Assignment Example This is coordinated by the risk manager who controls the number of medical personnel to be present as well as the amount of equipments to be used. The equipments should be placed before the event begins. The personnel should also remain in place until the special event is over. There should be a communication plan to avoid conflict of interest in case of fire outbreak. According to Taylor (2002) the risk manager should plan for ambulances in case something happens. That is, the number of ambulances to be used as well as well as their passage to and fro the special event compound. People who reject medical attention should be documented to avoid legal issues later. There should also be a shelter to cater for the victims and medical personnel during rainy, sunny or extreme windy conditions. The medical official vehicles should also be secured to avoid cases of vandalism or theft. Fire incidences can quickly be controlled by the use of smoke alarms. Smoke alarms and sprinkler systems should be checked to reduce the spread of fire. Use of an evacuation plan is highly necessary especially for the old, disabled and children. The evacuation plan should be read and explained to the participants in advance. The evacuation plan should be pre tested and discussed by the various fire officials to prevent the actual fire incidence. The evacuees’ routes should be demarcated to necessitate ease during evacuation. Biochemical precautions should be taken care-of by consultations with the relevant experts. Biochemical hazards increase the intensity of the fire and it complicates the extinction of the fire (Taylor, 2002). The risk management team should ensure emergency power backups and phones are put in place to cater for emergences when need arises. Poison can be minimized by provision of hotline numbers for all poison control

Corporate Governance in Australia After Hih Essay Example for Free

Corporate Governance in Australia After Hih Essay In the light of various corporate scandals, regulatory bodies and corporate governance were placed under pressure by shareholders and stakeholders to form a tighter grip in governing corporation’s conduct. The obligations, roles and responsibilities of company’s stewards are under scrutiny of Corporations Act, listing rules, country’s code of corporate governance, ethics as well as social standards. At the same time, advocates of market forces as a replacement to regulations and legislation continue to pursue for market deregulation and liberalisation based on the believe that government intervention will only distort resources allocation and hinder market growth. The collapse of Australian company HIH Insurance Ltd (HIH) in 2001 was analysed in terms of its conduct and compliance to the Corporations Act, listing rules as well as code of corporate governance as released by the Australian Securities Exchange (ASX) Corporate Governance Council (CGC). Reforms in regulations and the Corporate Governance Principles and Recommendations 2007 by ASX CGC were used to recommend best practices in corporate governance that should have taken place in HIH. Lastly, the effect of globalization and challenges to good corporate governance resulting from globalization were discussed from the perspective of national government, regulatory bodies as well as the corporation itself. Justice Neville Owen, The Royal Commissioner in the HIH Royal Commission Report described corporate governance as the framework of rules, relationships, systems and processes within and by which authority is exercised and controlled in corporations, and the Australian Securities Exchange (ASX) Corporate Governance Council added that corporate governance relates to and influences how the objectives of the company are set and achieved, how risk is monitored and assessed, and how performance is optimized (The HIH Royal Commission, 2003; ASX Corporate Governance Council, 2007). The meaning of corporate governance has evolved over time but, in the strictest sense, is linked to the legislation that allows its existence. The law sets forth a company’s rights and responsibilities but this can differ from country to country. However, it is generally accepted that corporate governance extends beyond the law to include a consideration of best practices and business ethics (Birt, Chalmers, Beal, Brooks, Byrne, Oliver, 2008). The structure of corporate governance as put forth by Farrar (2005) and represented in the figure below illustrates the relationship within the corporate governance structure: Figure: The structure of corporate governance (Farrar, 2005). The issues surrounding the rights and responsibilities of corporations are complex and ever changing as financial markets become more global, corporations become larger and more powerful, and society’s perception of the corporate role changes. A school of thoughts advocates for market forces to be the regulator of the financial market. The neo? liberals assume that factor markets work efficiently without government intervention if property rights and competition are guaranteed. They considered government interventions as less efficient than market? based solutions and stresses that government interventions hamper private sector development and that government should concentrate on improving the enabling of business environment through deregulation (Emeseh, Ako, Okonmah, Obokoh, Ogechukwu, 2010). Neo-liberalism challenges the conventional structuralist orthodoxy of government intervention by highlighting the negative effects of â€Å"financial repression† on economic growth and development. They refer financial repression to be the set of government legal restrictions preventing financial intermediaries in the economy from functioning at their full capacity. The distortion of domestic financial markets through rules and legislation is claimed to have negative impact on economic growth. In essence, corporations should be relied on in the main to self? regulate in the critical aspect of business activities. Neo-liberalism has prompted many countries to implement liberalisation and deregulation of their financial markets on the recommendations of the World Bank and IMF (Emeseh, Ako, Okonmah, Obokoh, Ogechukwu, 2010). The significant role of market forces in contributing to good corporate governance and strong corporate performance has for some time been emphasised in economic literature on the corporation and corporate law. In fact, advocates consider the influence of market forces to be an effective substitute for formal legal regulation (duPlessis, McConvill, Bagaric, 2005). However, through-out the last two decades, legislation reforms and corporate governance has also grown rapidly, particularly since the collapse of Enron Corporation in 2001 and the subsequent financial problems of other companies in various countries. As financial scandals continue to emerge, there will be continued attention placed on corporate governance issues, especially relating to transparency and disclosure, control and accountability, and the most appropriate form of board structure that may be capable of preventing such scandals occurring in future (Mallin, 2007). In pursuance of good corporate governance, an area of interest would be how directors’ conduct and decisions should be in the best interest of the company, its shareholders and other relevant stakeholders. In this context, the agency theory is a very suitable framework that can describe the problems associated with the principal-agent relationship caused by separation of ownership and control between shareholders (the principal) and directors (the agent) in corporations. Information asymmetry, moral hazard, difference in attitude towards risk and difference in interest between shareholders versus directors are common agency problems that would usually be at the expense of shareholders (Mallin, 2007; Rahman, Salim, 2010). For example, directors may have a wider range of economic and social needs (such as to maximize compensation, security, status and to boost their own reputation), while shareholders are interested only in maximizing return on investments. Furthermore, as directors are usually contracted to the company on short term basis, they may be eager for short-run payoffs within their contract term, whereas shareholders’ interest would be based on long-term success. Australian companies have a unitary board structure and the regulatory framework for corporate governance and directors’ duties is governed by (i) Statute (notably the Corporations Act), (ii) Common law rules (for example, cases relating to directors’ duties), (iii) The company’s constitution, and (iv) Guidelines issued by the Australian Securities and Investments Commission (ASIC) (Dibbs Barker Gosling Lawyers, 2003). ASIC plays a vital role in enforcing and regulating company and financial services laws to protect Australian consumers, investors and creditors. It acts as Australias corporate regulator and administers various legislations including the Corporations Act 2001, Australian Securities and Investments Commission Act 2001, etc. (Australian Securities ; Investments Commission, 2010a). By the Corporations Act, general duties imposed on directors and officers of companies are stated as (i) the duty to exercise their powers and duties with the care and diligence that a reasonable person would have which includes taking steps to ensure they are properly informed about the financial position of the company and ensuring the company doesn’t trade if it is insolvent, (ii) the duty to exercise their powers and duties in good faith in the best interests of the company and for a proper purpose, (iii) the duty not to improperly use their position to gain an advantage for themselves or someone else, or to cause detriment to the company, and (iv) the duty not to improperly use information obtained through their position to gain an advantage for themselves or someone else, or to cause detriment to the company (Australian Securities ; Investments Commission, 2010b). Beyond their legal duties and obligations, directors are also expected to meet commercial expectations in th e interest of stakeholders, which include, but are not limited to, shareholders. These commercial expectations essentially require directors to drive the bottom line and provide appropriate shareholder returns. Taking it a step further, many directors of today are challenged to embrace triple bottom line reporting and consider the economic, social and environmental ramifications of their corporate activities (Lucy, 2006). While the scope and laws governing the conduct of directors are wide and many, intentional and unintentional breach has shocked the financial market and public numerously. Till today, HIH Insurance Ltd (HIH) that went into liquidation in early 2001 is well remembered by almost every Australian as a collapse caused by mismanagement of the company, and various board members were brought to court on charges including giving misleading information with the intention of deceiving other board members and the company’s auditor. As one of Australia’s largest insurers, the company ran into debts of over AUD$5 billion and subsequent to the collapse, the government carried out an expensive exercise to underwrite many of the failed policies (Mallin, 2007). According to the HIH Royal Commission Report on the failure of HIH, it was concluded that investigators did not find fraud or embezzlement to be behind the collapse. The failure was more the result of attempts to paper over the cracks caused by over-priced acquisitions (notably FAI Insurance Ltd) and too much corporate extravagance based on a misconception that the money was there in the business. The primary reason for the huge loses was that adequate provision had not been made for insurance claims and past claims on policies had not been properly priced. HIH was mismanaged in the area of its core business activity (Bailey, 2003). In chorus, the HIH Royal Commission report fundamentally states that the main reasons for the failure of HIH was poor management and greed characterised by (i) a lack of attention to detail and skills, (ii) a lack of accountability for performance, and (iii) a lack of integrity in the companys internal processes and systems (Nicholson, 2008). Justice Neville Owen further commented in the report on what was the essence of good corporate governance: The governance of a public company should be about stewardship. Those in control have a duty to act in the best interests of the company. They must use the companys resources productively. They must understand that those resources are not personal property. The last years of HIH were marked by poor leadership and inept management. Indeed, an attitude of apparent indifference to, or deliberate disregard of, the companys underlying problems pervades the affairs of the group. † (The HIH Royal Commission, 2003). The above comment can be loosely translated to say that the directors of HIH have failed their duties. Notably, in April 2005, Mr Ray Williams, the former Chief Executive Officer (CEO) of HIH, was sentenced to four-and-a-half years’ jail with a non-parole period of two years and nine months. Mr William’s sentencing follows ASIC’s successful civil penalty proceedings on the three criminal charges which Mr. William pleaded guilty to. The three criminal charges were (i) that he was reckless and failed to properly exercise his powers and discharge his duties for a proper purpose as a director of HIH Insurance Limited when, on 19 October 2000, he signed a letter that was misleading, (ii) that he authorised the issue of a prospectus by HIH on 26 October 1998 that contained a material omission, and (iii) that he made or authorised a statement in the 1998-99 Annual Report, which he knew to be misleading, that overstated the operating profit before abnormal items and income tax by $92. 4 million (Australian Securities Investments Commission, 2005a). ASIC’s HIH investigation also led to criminal prosecutions of 9 other former senior executives, including directors of FAI, HIH and associated entities on 31 Corporations and Crimes Act charges. Of high public interest was Mr Rodney Adler, a former director of HIH and the majority owner of FAI was sentenced to four-and-a-half years’ jail, with a non-parole period of two-and-a-half years, on four charges arising from his conduct as a director of the HIH group of companies in 2000. ASIC’s chairman, Mr Jeffrey Lucy, in his public statement said, â€Å"Mr Adler was in a position of trust as a director of HIH but he put his own financial interests before the interests of HIH shareholders† (Australian Securities Investments Commission, 2005b). Mr Adler was sentenced after pleading guilty to four criminal charges: (i) two counts of disseminating information on 19 and 20 June respectively, knowing it was false in a material particular and which was likely to induce the purchase by other persons of shares in HIH contrary to s999 Corporations Act 2001, (ii) one count of obtaining money by false or misleading statements, contrary to s178BB Crimes Act 1900 (NSW), and (iii) one count of being intentionally dishonest and failing to discharge his duties as a director of HIH in good faith and in the best interests of that company contrary to s184(1)(b) Corporations Act 2001 (Australian Securities Investments Commission, 2005b). HIH’s disastrous business ventures in U. K. , U. S. , acquisition of FAI Insurance Ltd. nd the Allianz joint venture were identified as what ultimately brought HIH down. These instances of poor decision-making were caused by and reflect a poor corporate governance culture. Corporate governance issues identified included (i) an over-dominant CEO whose decisions were never questioned, (ii) an ineffective chairman who failed his responsibility to oversee the functioning of the board, (iii) an ineffective board who failed to grasp the concept of conflicts of interest, and was unable to monitor and does not question management performance, (iv) inappropriate conduct in remuneration setting and performance measurement (mostly made by Mr. Williams who, although not a member of the committee, attended all meetings by invitation), (v) an ineffective audit committee who showed no concern with risk management and internal control, and (vi) compromised auditor independence (the auditing company was Arthur Andersen and HIH’s board had three former Andersens partners one of them was the chair of the board yet continued receiving fees under a consultancy agreement. Andersens also derived significant fees from non-audit work which gave rise to a conflict of interest with their audit obligations) (Lipton, 2003). Subsequent to HIH’s collapse, The Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Act 2004 (commonly known as ‘CLERP 9’) came into force on 1 July 2004. CLERP 9 incorporated a number of recommendations made in the HIH Royal Commission Report. Reforms were made relating to (i) disclosure of directors’ remuneration, (ii) financial reporting, (iii) auditors i ndependence, (iv) continuous disclosure, and (v) enhanced penalty provisions. CLERP 9 also deals with accounting standards, expensing of options, compliance controls, and encouragement of greater shareholder participation at meeting – all of which represents a significant development in the corporate law framework (Deloitte Touche Tohmatsu, 2005; Alcoc, Bicego, 2003). Prior to CLERP 9 coming into force, advocates of corporate governance were delighted with Australian Stock Exchange Limited (ASX) release of the â€Å"ASX Corporate Governance Councils (CGC) Principles of Good Corporate Governance and Best Practice Recommendations† in March 2003. ASX CGC adopted the same principles based approach as taken in the UK Combined Code which governs entities listed on the London Stock Exchange. ASX listed entities are at liberty not to comply with the recommendations, but if they do not, they must explain why not. The Guidelines were built on the belief that one size does not fit all companies. The Guidelines contained 10 essential Corporate Governance Principles (Principles) and 28 Best Practice Recommendations (Recommendations) which was later revised in August 2007 as â€Å"Corporate Governance Principles and Recommendations† (Guidelines) comprising of 8 Principles and 26 Recommendations (Farrell, Harding, ; Spilsbury, 2003). The Guidelines also reflect ASX CGC’s emphasis in continuous disclosure by listed companies. Each Principle has a Guide to reporting about the Recommendations at the end of the chapter discussing what should be disclosed and where. Under ASX Listing Rule 4. 10. 3, companies are required to provide a statement in their annual report, disclosing the extent to which they have followed the Recommendations in the reporting period. Where companies have not followed all the Recommendations, they must identify the Recommendations that have not been followed and give reasons for not following them – the â€Å"if not, why not† approach (ASX Corporate Governance Council, 2007). In relation to HIH’s case, a number of the Guidelines’ Principles provide fairly extensive coverage of corporate governance issues identified in HIH earlier. Principle 1 highlights the need for companies to establish and disclose the respective roles and responsibilities of the board and management. In the 2007 edition, the Guidelines added the Recommendation 1. 2 for companies to disclose the process for evaluating the performance of senior executives (ASX Corporate Governance Council, 2007). This Principle serves to provide disclosure in relation to HIH’s situation of an over-dominant CEO and ineffective chairman and board. Where HIH was highlighted to have a board that was ineffective and failed its duties, Principle 2 states that companies need to structure the board to add value with an effective composition, size and commitment to adequately discharge its responsibilities and duties. Recommendations in the principle placed importance in having a majority of the board and the chairman being independent directors to ensure independence in board decisions and prevent conflict of interest. Recommendation 2. 4 suggests that companies should establish a nomination committee to ensure appropriate selection and appointment practices in the company. This Recommendation also provides resolution in relation to HIH’s case whereby the board was mostly made up of directors hired by Mr. William, including the former Andersen partners. In the 2007 edition, the Guidelines added the Recommendation 2. 5 for companies to disclose the process for evaluating the performance of the board, its committees and individual directors (previously this was part of Principle 8 in the 2003 edition, titled â€Å"encourage enhance performance†). This Recommendation helps to ensure directors are given access to continuing education to update and enhance their skills and knowledge that are necessary in performing their duties (ASX Corporate Governance Council, 2007). Principle 3 discusses how companies should promote ethical and responsible decision-making. Beyond legal obligations, directors are expected to make decisions that satisfy not only the company’s shareholders but other stakeholders as well (this principal includes amalgamation from Principle 10 of the 2003 edition Guidelines which was to â€Å"recognize the legitimate interests of stakeholders†). To achieve this, Recommendation 3. 1 encourages companies to establish and disclose their code of conduct pertaining to integrity practices, legal practices and handling of unethical practices. Aligned with this, Recommendation 3. 2 promotes the establishment and disclosure of company’s policy concerning trading in company securities by directors, senior executives and employees (ASX Corporate Governance Council, 2007). Relating to Principle 3 and Principle 7 titled â€Å"recognize and manage risk†, HIH has been considerably questioned of its various business decisions, mostly of which contributed to huge loses and ultimately the company’s insolvency. Criticized decisions made by the company are many, and on top of the list include (i) the acquisition of FAI Insurance (majority-owned by Mr. Adler who later became a member of HIH’s board of directors) for A$300 million which FAI was later estimated to be worth just A$100 million, (ii) re-entering the California market in 1998 and failure to take the difficult decision to exit the market when it proved unprofitable, and (iii) the decision to enter a sector (insurance and re-insurance of film-financing) that has proved problematic for many market participants in London (Cagan, 2001). The lack of risk management within HIH was apparent and Mr. Adler’s unethical conduct was evident with his imprisonment. In view of the importance of risk management, Recommendation 7. 1 urges companies to establish policies for the over sight and management of material business risks (that is financial risks and non-financial risks) and disclose a summary of those policies while Recommendation 7. 2 call for the board to require management to design and implement risk management and internal control system to manage the company’s material business risks and report to it on whether those risks are being managed effectively.