Schema Integration Essay - 2227 Words

In literature there exist several definitions of Schema: â€Å"Schema integration is the process of merging autonomously developed DB schema into a unified, global schema to provide transparency through a unified view† [73]. â€Å"Schema integration is the process of identifying the components of a database which are related to one another, selecting the best representation for the global conceptual schema, and finally, integrating the components of each intermediate schema† [74]. 12.2. Why is Schema Integration Required? With respect to the web warehouse, schema integration is one of its important perspectives. There are heterogeneous sources of data in World Wide Web which vary in their schema configuration. Schemas from different†¦show more content†¦Pre-integration An analysis of local schemata is carried out. The analysis made governs the choice of schemas to be integrated and the order of integration. A number of schemas to be integrated at a time and the amount of designer interaction are also decided in this step [81]. 12.4.2. Schema Comparison/Matching This step involves identifying and analyzing inter-schema relationships by determining the correspondences between the schemas. Possible conflicts are also detected in this phase. 12.4.3. Schema Conforming In order to integrate schemas, the detected conflicts between them have to be resolved so that it was possible to merge them [81]. It implies modification of one or both schemas that will be integrated until each phenomenon in the Universe of the Discourse (UoD) reflects the same form in both schemas. 12.4.4. Schema Merging Schema merging results into a single global integrated schema by superimposing the local schemas. 12.5. Conflicts in Schema Integration Schema integration process may face certain conflicts. The system undergoing the integration process must be able to identify the arise conflicts. 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Physio 9.0 Endocrine Lab Essay - 976 Words

physioex 9.0 Review Sheet Exercise 4 Endocrine System Physiology Name Laura Bauer Lab Time/Date Thursday 5:30-7:30 Activity 1 Metabolism and Thyroid Hormone Part 1 1 Which rat had the fastest basal metabolic rate (BMR)? The Normal rat had the fastest BMR. 2 Why did the metabolic rates differ between the normal rat and the surgically altered rats? How well did the results compare with your prediction? ___ The BMRs differed because the surgically altered rats were missing either the Pituitary or Thryoid gland that release thyroid hormones. 3 If an animal has been thyroidectomized, what hormone(s) would be missing in its blood? The animal will be missing trioodythronine and thyroxine. 4 If an animal†¦show more content†¦3. Describe the diagnosis for patient 3, who was also pregnant at the time of this assay. *** This patient would be diagnosed with gestational diabetes, a type of diabetes that typically disappears after pregnancy. 4. Which patient(s) had normal glucose reading(s)? ___ Patients 1 and 2 were in the normal range. 5. What are some lifestyle choices these patients with normal plasma glucose readings might recommend to the borderline impaired patients? ___ A change of diet in which simple sugars are limited might assist borderline patients. Similarly, fiber and good carbohydrates could be helpful. Activity 3 Hormone Replacement Therapy ** We could not carry out the third experiment there was an issue with the software. Activity 4 Measuring Cortisol and Adrenocorticotropic Hormone 1 Which patient would most likely be diagnosed with Cushing’s disease? Why? ___ Patient number 3 would most likely be at risk due to high levels of both cortisol and ACTH ___ 2 Which two patients have hormone levels characteristic of Cushing’s syndrome? ___ Patients 2 and 5 have high levels of cortisol which is a characteristic of Cushings syndrome. 3 Patient 2 is being treated for rheumatoid arthritis with prednisone. How does this information change the diagnosis? ___ Because of the treatment for the arthritis, the Cushings syndrome would have been induced by

Masters of Professional Accounting

Question: Under section 180(1) of the Corporations Act 2001 (Cth), directors have a duty to act with care and diligence, according to the size of the company and according to the responsibilities expected of that particular officer. Under section 180(2), there is a defence that the decision was a proper one under the circumstances, even though the decision later turns out to be not so good for the corporation. What is the criteria that a director needs to satisfy under section 180(2) in order to establish this defence? Do you think that section 180(2) does a good job in protecting directors in making business decisions? Does it need to protect directors better? Answer: Discussion on section 180(2) of Corporation Act 2001 (Cth) The Section 180 under the Corporation Act 2001 suggests that the directors of any company must exercise their duties with required care and diligence in order to meet the purpose of the company in best possible way. At the same time, the section 180(1) in the Corporation Act 2001 (Cth) states that the directors of the companies must conduct their duties with proper care and diligence and by considering responsibilities of the directors and the size of the organization or company. However, on the other side, the 180(2) under the same act that is Corporation Act 2001 states about the defence that the decision or actions of the directors must be proper under the particular circumstances, however, it may happen that the actions taken by the directors will not provide such advantage to the company in future.[5] However, this defence under section 180(2) of Corporation Act 2001 (Cth) can be established only if the following criteria are met. The criteria are stated as under: The first criterion is the director must take the decision or action in order to fulfill some good reason or for an appropriate reason that will serve the company a good result in that specific circumstance. The second criterion is that the director of the company must not have any personal interest on that action or decision. The director of the company who has made the decision or taken the action must inform about the main subject matter behind the particular decision or action. The subject matter must be appropriate or proper to be believed. The last criterion is that the decision or action taken by the director must provide the best interest to the company or organization. Therefore, these are the criteria that the director of a company must satisfy in order to appeal for this defence under section 180(2) of Corporation Act 2001 (Cth). As per the above discussion and as per the section 180(2) under the Corporation act 2001 (Cth) it can be said that the section 180(2) can protect the directors of the company at the time of taking decision for the business. This particular section of the Corporation Act 2001 (Cth) provides such a guideline that shows the right path to the directors of the company. The section 180(2) states how the directors must take their decisions. This means the section talks about the factors or situations that the directors must consider at the time of taking the decision. At the same time, the section also states that if the directors fail to maintain the guidelines then the directors will be penalized by the court. The section 180(2) of the Corporation Act 2001 (Cth) states that the director of the company must consider the goodness of the company and must not consider his or her personal interest. If the director of a company takes any decision as per this particular act or this particular section of the Corporation Act 2001 (Cth), then there are more chances of taking decision in order to achieve best interest of the company as per the particular situation in which the decision is being taken. On the other side, if the director takes the decision to increase the value of the organization or company then there are more possibilities for the personal growth of the director also. This means the Section 180(2) under the Corporation Act 2001 (Cth) guides the directors of the company in achieving their personal growth by fulfilling the companys interests in best possible manner. Need for expanding defenses available under Section 180(2) Under Section 180(2) the defenses are available to a director under the following circumstances: The directors have acted with a bona fide intention and for a proper purpose; They have no material interest in the judgment which they have made The judgment should be rational They have made the judgment keeping in mind the best interests of the Corporation. Under the present regulatory regime the defenses are narrow and it is difficult for directors to explain or defend a short term risk which they take in response to the rapid changes in the market. The test laid down under Section 180(2) is an objective test which requires rationalization of judgments made by the Directors. This will put Directors in great difficulty who tend to take huge risk. Many persons who are eligible and who have an innovative mind and who are prone to take risks, as a result, hesitate to become a Director. The defenses available under Section 180(2) are not of much use and there is necessity of a more wide and broad defense provision which would allow the directors to take vibrant risks and which would allow the economy to prosper and grow in the light of brave steps taken by the Directors. [6] Conclusion During this study it has been identified that there are different types of legal structures available to a business organization. The discussion in the question 1 of the study has identified that the business of Denise and Freda is a partnership business and the present poor financial situation of the company can be improved if the partners of the company convert the structure of the company into a limited company. The study has also found out how a non executive director and a minor shareholder can protect himself or herself from any unethical decision taken by the directors of the company. In the answer of question 2, it has been identified that the directors of The Best Coffee Limited have breached their duties and have not shown proper care and diligences in their activities. In question 3, the study has stated about the rights that Rick can apply by using the sections 232, 181 and 182 of Corporation Act 2001. The question 4 of the study discussed about the section 180(2) of the Corporation Act 2001 (Cth) and identified that there are different criteria those are important to be maintained by the directors of the company establish the defence. The answer of the same question also suggests that the section 180(2) provides a better protection to the directors of the companies in taking decision for the business. Bibliography [1] Scott, Jason,Business Structures: What Legal Designation may be Right for You?(Journal Publications Inc, 2014) vol 30 [2] Anonymouscompany Director(Oxford University Press, 4th ed, 2012) [3] Lowry, John, 'The Irreducible Core of the Duty of Care, Skill and Diligence of Company Directors: Australian Securities and Investments Commission v Healey' (2012) 75The Modern Law Review249 [4] Holland, Peter and Amanda Pyman, 'Trade Unions and Corporate Campaigning in a Global Economy: The Case of James Hardie' (2012) 33Economic and Industrial Democracy555 [5] Baxt, Robert, 'The Law Relating to a Director's Duty of Care and Diligence: Giving a More Encouraging Interpretation in the Federal Court' (2015) 89Australian Law Journal843 [6] Fox, Judith, 'Honest and Reasonable Director Defence' (2015) 67Governance Directions218.

Movie Rental Industry Essay Example

Movie Rental Industry Essay Movie Rental Industry Netflix and Blockbuster Case Analysis Lydia Floyd Strategic Management MGT422 February 28, 2013 Introduction Netflix competitive strategy In order for Netflix to understand were the business lies as it relates to the competition it is important to seek the correct strategy in order to be and stay competitive. The five competitive strategies are * Low- Cost * Broad Differentiation * Best-Cost * Focused niche based on low cost * Focused niche based on differentiation Since each strategy requires totally a different approached my recommendations will be based on focused niche based on differentiation. Netflix originally offered DVD’s on a fee per DVD basis and eventually branched off into the monthly subscription service business. The company at one point was forecasted to have over 11. 3 million subscribers by 2009 and 8 million VOD (Video on Demand) customers by 2013. (See Exhibit 1) This exhibit basically shows how the number of video streaming choices has increased over the past several years. So the company is moving in the right direction as far as broaden their differentiation strategy. The next exhibit shows how Netflix compares to the its main competition and how the company’s net profit margin exceeds a competitor like Blockbuster. The attached SWOT analysis for Netflix mentions some very important points that are associated with a focused differentiation strategy. The company is staying committed to how to service the niche better than the competition and speaks to the areas that appeal to specific customers such as offering services that allow subscribers to go back to pilot episodes of a television series. We will write a custom essay sample on Movie Rental Industry specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Movie Rental Industry specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Movie Rental Industry specifically for you FOR ONLY $16.38 $13.9/page Hire Writer This analysis will allow the company to identify areas to concentrate on strategically and to make a final diagnosis to where the company stands overall. Strengths * Increasing competition per member viewing is on the * Customers’ opting out is the lowest it has ever been. * Clearest brand identity Watch TV shows movies anytime, anywhere† * Netflix has surpassed the competitions in improving personalization of customer choices because of large membership base * Price $7. 99 per month * Exclusive Content: Of Netflixs top ten TV shows, six are only on Netflix, and not available with competitors. Netflixs DVD subscription service is extremely profitable, with contribution margins around 50%. * Services allow customers to go all the way back to the beginning of the first season for TV shows Weaknesses * DVD subscriptions are down 8. 47 million subscribers in Q3, 2012 compared to 13. 81 million subscribers 1 year ago. * Brand suffered when the company changed the pricing * I t could take three years for a full brand recovery in order to see noticeable difference to profit margins * Streaming subscription contribution margins are much Opportunities International expansion (global) * Original productions offer a way for the company to connect with customer emotions. Company will be offering 4 TV series this year that will only be on Netflix * Lack of use of debit and credit cards Latin America. * Internet TV. Threats * As Hastings pointed out, With big markets comes competition There is a clear transition from linear TV to Internet TV and competitors want in on the profits. * Contracts with Disney, Sony, and Universal * Hulu, offers its customers TV shows immediately after they are aired for the first time. Hulu, Amazon, and HBO competitors making more investments in streaming options * United Kingdom is a very competitive â€Å"The sought after competitive advantage over other movie rental competitors was to deliver compelling customer value and custo mer satisfaction by eliminating the hassle involved in choosing rent and returning movies. Grow forward the company has 2 primary strategic objective 1 to continue to grow a large DVD subscription business and to expand rapidly to internet based delivery of content as that market segment developed. (Case page c-102) The company’s revenue has continued to grow substantially over that last couple of years. The next exhibits show the financial position from the end of 2006 to end of 2008 going from 996,660 to 1,364,661 with the net income margin being at 6. 1% by 2008 which shows the company profitability as it relates to expenses and liabilities. The next two slides just give a visual for where Netflix compares to blockbuster as it relates to sales thru 2010 Reference Page Thompson , A. University of Alabama 2008 Case 5 Competition in the Movie Rental Industry in 2008: Neflix and Blockbuster battle for market leadership http://beta. fool. com/danielsparks/2012/10/31/netflix-swot-analysis/15522/ http://www. slideshare. net/only1kiku/techindnetflix Gamble, John E. , Strickland, A. J. , Thompson, Arthur A. , 2010 Crafting and Executing Strategy McGraw Hill/ Irwin New York New York http://finance. yahoo. com/q? s=NFLXql=1

How to Write a Perfect Caregiver Resume (Examples Included)

How to Write a Perfect Caregiver Resume (Examples Included) caregivers, also known as home health aides, are an essential part of the healthcare industry. they may not get the glory or the fame, but it doesn’t get much more necessary than helping people get through their daily lives. with patience, compassion, and a stellar bedside manner, these aides work with patients at home to help them with daily tasks like feeding, bathing, and moving around. their patients may include people with disabilities or the elderly. if you don’t have a degree (beyond high school/ged), or are just getting started, this can be a great career path. let’s look at caregiver resume samples from three different caregivers: one just starting out, a daycare provider, and a certified home health aide. first up is helene, who is looking for her first fulls)How to Write a Perfect Occupational Therapist ResumeHow to Write a Perfect Physician Assistant Resume (Examples Included)How to Write a Perfect Receptionist Resume (Examples Included)How to Create a Perfect Retail ResumeHow to Write a Perfect Sales Associate Resume (Examples Included)How to Write a Perfect Social Worker Resume (Examples Included)How to Write a Perfect Truck Driver Resume (With Examples)How to Write a Perfect Administrative Assistant Resume (Examples Included)

Daniel Keyes Controversial Novel Questions for Study

Daniel Keyes Controversial Novel Questions for Study Flowers for Algernon is a famous 1966 novel by Daniel Keyes. It began as a short story, which Keyes later expanded into a full novel. Flowers for Algernon tells the story of a mentally challenged man, Charlie Gordon, who undergoes a surgical procedure that dramatically increases his IQ. Its the same procedure thats already been performed successfully on a mouse named Algernon. At first, Charlies life is improved by his expanded mental capacity, but he comes to realize people he thought were his friends were mocking him. He falls in love with his former teacher, Miss Kinnian, but soon surpasses her intellectually, leaving him feeling isolated. When Algernons intelligence begins to decline and he dies, Charlie sees the fate that awaits him, and soon he begins to regress as well. In his final letter, Charlie asks that someone leave flowers on Algernons grave, which is in Charlies backyard. Here are a few questions for study and discussion of Flowers for Algernon: What is important about the title? Is there a reference in the novel that explains the title?What statement does the novel make, directly or indirectly, about the treatment of the mentally challenged?Flowers for Algernon was published in the mid-1960s. Are Keyes views on mental disability and intelligence dated? Does he use terms to describe Charlie that are no longer considered appropriate?What passages could have been grounds for banning Flowers for Algernon (as it was several times)?Flowers for Algernon is whats known as an epistolary novel, told in letters and correspondence. Is this an effective technique for showing Charlies rise and decline? Why or why not? To whom do you think the letters and notes Charlie writes are written?Is Charlie consistent in his actions? What is unique about his situation?Consider the location and time period of the novel. Would changing one or both have changed the story significantly?How are women portrayed in Flowers for Algernon? What would have b een different about the story if Charlie had been a woman who underwent such a controversial surgery? Are the doctors who operate on Charlie acting in his best interests? Do you think Charlie would have gone through with the operation if he knew what the ultimate outcome would be?Several publishers rejected Flowers for Algernon, demanding Keyes rewrite it with a happier ending, with at least one suggesting Charlie should marry Alice Killian. Do you think that would have been a satisfying conclusion to the story? How would it have affected the integrity of the storys central theme?What is the central message of the novel? Is there more than one moral to the story of Charlies treatment?What does the novel suggest about the connection between intelligence and happiness?What genre do you think this novel belongs to: ​Science fiction or horror? Explain your answer. Here are some additional links to enhance your appreciation and understanding of Flowers for Algernon

(educatio)culture geography of childhood Essay Example | Topics and Well Written Essays - 2250 words

(educatio)culture geography of childhood - Essay Example onal researchers have mentioned culture and tradition play a vital role in acquisition of values, knowledge, beliefs, behaviours and expectations of a child’s life. Eminent psychological and learning theories such as social constructivism and cognitive theory underlines the significance of social or family interaction in character formation and learning. By Barbara M. Newman, Philip R. Newman remark; â€Å"Vygotsky considered the nature of reasoning and problem solving as culturally created.† (Newman & Newman 2008, p.60). This photographic essay the researcher investigates the role of culture and tradition in a person’s character formation and learning. The selected photograph is about a boy named Aissa from an Algerian Islamic family. The photographic essay reveals a story or evokes a sequence of emotions in the mind of the reader which discuss cultural beliefs and traditions of a child. The first set of the photographs reveals that the boy Aissa is very frankly mingled with his family members and one can easily find his positive attitudes towards his parents. The boy keeps a healthy relationship with his family members. The given image (figure1and 2) also expresses the boy has developed good and excellent personality because he respects all members of his family and his society. Erich Fromm, Michael Maccoby assert;† Village parents are serious about obedience, and they feel that to be playful for or to show enthusiasm about the child at this age would undermine respect.† (Fromm & Maccoby 1996, p.189). The boy in this photograph is a member of a conservative Islamic Algerian family and this picture shows the cultural and religious background of the family. The given photographs help the viewer to reach the idea that the boy has followed and sustained a structured behaviour and it also reveals the characteristics of his culture and tradition which follow the habit of respecting others. Don Tinkler argues that â€Å"Of major importance in the development of

Porter's Five Forces Strategy Analysis as it applies to the Auto Essay

Porter's Five Forces Strategy Analysis as it applies to the Auto Industry - Essay Example For international organizations, decisions have to be made on whether the strategies would be the same for every country it competes with as well as giving managers the mandate to choose their own strategies. Functional strategies for particular operations derived from business level strategies include marketing, accounting and finance. An automotive industry manufactures, designs, develops, markets and sell motor vehicles and is considered the world’s most significant economic sector in terms of revenue generation. The American automobile industry is the only industry that has never changed for years since its inception. Businesses begin, grow, develop, and end just like human beings. Some do not complete their life cycle as a result of their interruptions. They undergo a myriad of challenges that make them eventually die. Contrary to a human being, a business can change its methods of operation to more efficient mechanisms for improvement. From this view, the American automo bile industry has raised the question of whether it will be able to adapt or it will end from its stagnating condition. Before establishing an organization’s business-level strategy, it must discern the determining factors of profit maximization of an industry. The tool of analyzing these factors is what is known as Porter’s Five Forces Model. ... Introduction to the Auto Industry As defined earlier, an automotive industry manufactures, markets, designs, develops and sells motor vehicles. It does not include industries attached to automobiles after delivery to the client such as fuel stations, electronics and repair shops. An automobile industry involves producing and selling individual powered vehicles such as trucks, passenger cars, farm equipment and other commercial vehicles. The auto industry has facilitated the growth of infrastructure for long distance commuters, entertainment and shopping, growth of market centers, increased urbanization and industrialization (Burgess, 1980). The industry is also one of the key employers thus contributing to economic growth. Until 2005, the US dominated the world in production of automobile. Majority of the auto dealers in the US were blacksmith and carriage shops. Progress was soon developed when the car replaced the horse and buggy. Blacksmith shops were everywhere in the market cent ers and played the role of serving customers at a great deal. The inventors of automobile industries were engineers like Henry Leland and Henry Ford. Blacksmith shops were service oriented whereas carriage shops required time to time management together with the horses that drew them. Since their goal was to provide exceptional satisfaction to the customers needs, they slowly became auto dealers of servicing their customer’s vehicles. They were able to compete with service stations such as Jiffy Lube, Midas, and Meineke among others. From that time the number of dealers began to increase giving rise to many franchised automobile dealers. This trend went down from 1950 until 2007 (Tuman 19). 3.1 Industry definition The first fifty years saw the industry

Structure of the federal government Essay Example for Free

Structure of the federal government Essay Determine where each agency lies in the administrative structure of the federal government. Identify it as an executive department or an independent agency. The purpose of U.S. Environmental Protection Agency is to protecting human health and the environment by writing and enforcing regulations based on laws passed by Congress. According to EPA website, Born in the wake of elevated concern about environmental pollution, EPA was established on December 2, 1970 to consolidate in one agency a variety of federal research, monitoring, standard-setting and enforcement activities to ensure environmental protection. This agency, US Environment Protection Agency is run by its Administrator. The current Administrator is Lisa P. Jackson. The President appoints an administrator for U.S. Environment Protection Agency and Congress can approve or decline the person. The US Environmental Protection Agency is an independent agency. The agency has approximately 17,000 full-time employees and engages many more people on a contractual basis. The purpose of U.S. Army of Corps of Engineer is to provide vital public engineering services in peace and war to strengthen the nations security, energize the economy, and reduce risks from disasters. According to US Army of Corp Engineers website, the history of United States Army Corps of Engineers can be traced back to June 16, 1775, when the Continental Congress organized an army with a chief engineer and two assistants. Colonel Richard Gridley became General George Washingtons first chief engineer; however, it was not until 1779 that Congress created a separate Corps of Engineers. Army engineers, including several French officers, were instrumental in some of the hard-fought battles of the Revolutionary War including Bunker Hill, Saratoga, and the final victory at Yorktown. The US Army Corps of Engineer is a U.S. federal agency that is under the Department of Defense. It organization is made of Army command that is made up of 38,000 civilian and military personnel. It’s the world’s largest public engineering, design and construction management agency. It specializes in dams, canals and flood protection in the US. The purpose of the U.S. Coast Guard is to maritime homeland security, maritime law enforcement (MLE), search and rescue (SAR), marine environmental protection (MEP) and the maintenance of river, intra-coastal, and offshore navigation. According to http://www.uscg.mil/history/, the Coast Guards official history began on 4 August 1790 when President George Washington signed the Tariff Act that authorized the construction of ten vessels, referred to as cutters, to enforce federal tariff and trade laws and to prevent smuggling. Known variously through the nineteenth and early twentieth centuries as the revenue cutters, the system of cutters, and finally the Revenue Cutter Service, it expanded in size and responsibilities as the nation grew. It operates under the Department of Homeland Security during peacetime and can be transferred to the Department of the Navy by the President at any time or by Congress during time of war. As of August 2009 the Coast Guard had approximately 42,000 men and women on active duty, 7,500 reservists, 30,000 auxiliaries and 7,700 full-time civilian employees. The purpose of U.S Fish and Wildlife Services is for management of fish, wildlife, and natural habitats. In 1871, the U.S. Commission on Fish and Fisheries is created by Congress and charged with studying and recommending solutions to the decline in food fishes and to promote fish culture. Spencer Fullerton Baird is appointed as the first Commissioner. A year later, the Commissions Baird Station in northern California is used to collect, fertilize and ship salmon eggs by rail to the East Coast. According to http://www.fws.gov/director/dan-ashe/dan.cfm?reint=1, Daniel M. Ashe was confirmed on June 30, 2011 as the 16th Director of the U.S. Fish and Wildlife Service, the nations principal Federal agency dedicated to the conservation of fish and wildlife and their habitats. His appointment by President Obama is the culmination of a lifetime spent within the Fish and Wildlife Service family. The United States Fish and Wildlife Service (FWS) is a federal government agency that is under US Department of the Interior. Today, the Service consists of a central administrative office with eight regional offices and nearly 700 field offices distributed throughout the United States. Determine which of the appropriation subcommittees has jurisdiction over agency’s budget request. According to http://www.opencongress.org/wiki/Committees_and_their_jurisdiction, subcommittee of Interior, Environment and Related Agencies has jurisdiction over US Environmental Protection Agency budget request. The subcommittee on Energy and Water has jurisdiction over US Army Corps of Engineers budget request. The subcommittee on Coast Guard and Maritime Transportation has jurisdiction over the US Coast Guard and Interior subcommittee has jurisdiction over US Fish and Wildlife Service. Determine where each agency’s operations fall in the functional classification of the federal budget. This portion was time consuming and was research this information for a long time. I look over and over on some many website until I got confuse. But after my break and according to http://budget.house.gov/budgetprocess/budgetfunctions.htm#function300, that U. S. Environmental Protection Agency, U.S. Army Corps of Engineers, and U.S. Fish and Wildlife Service with function 300: Natural Resources and Environment includes programs concerned with environmental protection and enhancement; recreation and wildlife areas; and the development and management of the nations land, water, and mineral resources. It includes programs within the following federal departments and agencies: Agriculture, Commerce, Interior, Transportation, the Army Corps of Engineers, and the Environmental Protection Agency (EPA). The U.S. Coast Guard operation’s fall in function 400: Transportation that’s consists mostly of the programs administered by the Department of Transportation, including programs for highways, mass transit, aviation, and maritime activities. This function also includes two components of the Department of Homeland Security: the Coast Guard and the Transportation Security Administration. In addition, this function includes several small transportation-related agencies and the research program for civilian aviation at the National Aeronautics and Space Administration (NASA). Pick one (1) agency from the list and, for a recent budget year, determine: The budget authority and outlays proposed for the agency, and the actual outlays and budget authority for the agency in that year. The U.S. Environmental Protection Agency will be the agency from the list to determine the budget authority and outlays. Budget authority provided through appropriation, borrowing authority, or contract authority allows agencies to enter into commitment that will results in immediate or future spending (Mikesell, 2010). I choose Protect Our Nation’s Water Supply to compare EPA budget authority versus outlay. According to EPA website, the EPA’s FY 2010 Budget requests 10.5 billion in discretionary budget authority and 17,384.3 Full Time Equivalents (FTE) to accomplish EPA’s efforts to build a greener economy, move into a clean energy future, and protect human health and the environment in communities across the nation. The FY 2010 Budget provides a substantial increase from FY2009, reflecting an enhanced focus in addressing public health and environment challenges. Increased funding will be targeted at vital areas including investing in water infrastructure, prote cting our freshwater resources, creating a foundation to address climate change and identifying research gaps as well as chemical management. The FY 2010 Budget provides 24 million to fully fund five Water Security Initiative (WSI) pilot cooperative agreements and the Water Alliance for Threat Reduction Activities. The WSI was launched in 2006 to demonstrate, test, and evaluate contamination warning system at drinking water utilities. Adoption of effective water security guidance on contamination systems will be issued upon completion of these projects. According to EPA website, EPA uses 18.6 million out of the 24 million that they requested. This projection was set up for 3 phases. Phases 1 consist of Conceptual Design, Phase 2 consists of pilots at drinking water utilities, and the final phase is Guidance and Outreach. The 2011 Water Security Imitative Pilot program budget was reducing from 24 million to 11.6 million. The budget outlays plans 24 million and most of the outlays are based on the proposal in the budget. References Mikesell, J,L (2010). Budgeting, Budget Structures, and Budget Reform, Fiscal Administration. Custon Edition, Cengage Learning, Mason, OH 45040 Ryan, P. (n.d). Committee on the Budget. House of Representatives. Retrieve on July 21, 2012, from http://budget.house.gov/budgetprocess/budgetfunctions.htm#function300 (n.d). The U.S. Army Corps of Engineers: A brief History. US Army Corps of Engineers Retrieve on July 21, 2012, from http://www.usace.army.mil/About/History/BriefHistoryoftheCorps/Beginnings.aspx (2009). Committee and their Jurisdiction. Open Congress for 112th United States Congress. Retrieve on July 21, 2012, from http://www.opencongress.org/wiki/Committees_and_their_jurisdiction 2012). Conserving the Nature of America. U.S. Fish Wildlife Service. Retrieve on July 21, 2012, from http://www.fws.gov/ (2012). EPA: United States Environmental Protection Agency. Retrieve on July 21, 2012, from http://www.epa.gov/aboutepa/ (2012). United States Coast Guard. U.S. Department of Homeland Security. Retrieve on July 21, 2012, from http://www.uscg.mil/history/

Challenges of the 21st Century Essay -- Exploratory Essays Research Pa

Challenges of the 21st Century    Citizens of the world look on with anticipation as our society moves into the twenty-first century. Although the world has not accomplished the wild ideas presented in science fiction, we have made a huge amount of progress in technology. However, many hurdles still need to be faced. Numerous critical problems will face both America and the world as a whole in this new millennium. Three problems confronting the United States are hate crimes, teen drug use, and education. The world will face issues as well, including terrorism, wars, and health care.    In America, hate crimes are a rising problem. Statistics show that a hate crime is committed every hour. A cross is burned every week. Eight blacks, three whites, three gays, three Jews, and one Latino become victims every day. Today, America prides itself on being a tolerant country. Through legislation including affirmative action and movements against racism, we see ourselves as a country offering equal opportunities to all. This statement, however, is slightly biased. Contrary to popular belief, everything is not wonderful in the land of the free and home of the brave. Many live in fear of being persecuted because of who they are naturally. The United States needs to find a way to combat these crimes, mainly through introducing tougher laws regarding hate crimes.    Another problem is use of illegal drugs by teenagers and young adults. As usage of drugs such as ecstasy and marijuana become more popular on "underground" scenes, people seem to find it acceptable to engage in casual drug use. Many young people do not realize the harmful effects of these substances until it is too late. The lives of America's y... ... diseases such as AIDS are also becoming a problem in places like Africa. Knowledge of how to prevent these diseases is not widely known, so an increasing number of people are infected. More attention needs to be placed on adequate health care and technology in these countries. While these third world societies may not have the resources with which to implement these changes, more advanced societies certainly do.    All of these issues are pressing concerns for America and for the world. Changes, however, will not begin to take place until the government and other appropriate authorities see that the public has a strong interest in correcting these problems. With enough attention brought to the issues by letter-writing campaigns, petitions, and peaceful protests, perhaps some of these issues can be solved during this new millennium.         

Brian Nichols

Brian Nichols was accused of shooting and killing four people in 2005. The incident occurred at the Fulton County Courthouse in Atlanta, Georgia. He was also charged with rape and false imprisonment as a result of actions immediatly following the alleged murders. Nichols has a varied history having grown up in a middle class home in rural Pennsylvania where he attended college and played football. Nichols was employed as an engineer for UPS. His yearly income is reportedly about 100,000 per year. He was active in his church. Those who knew him say they were surprised by the behavior as it as uncharacteristic of the Nichols they remembered.Nichols has a history of legal involvement including disorderly conduct charges and terrorist threat charges for the early 1990’s. He was awaiting trial on a rape charge at the time of this incident. In the incident in question, Nichols is alleged to have attached a deputy as she removed his handcuffs to allow him to change clothing. Nichols was in a holding ell at the time awaiting a trial. The deputy was critically injured, but survived. Nichols alleged ran across the sky bridge in the courthouse facility. . He had the deputy’s firearm with him.He allegedly entered Judge Barnes courtroom and shot and killed the judge, a deputy and the court reporter. Nichols managed to escape the facility and carjacked a vehicle at gunpoint, after assaulting the cars owner. though he never actually took the car. He allegedly stole another car, this time taking owner with him. William allegedly killed a US Customs Agent the following day and then approached women at an apartment complex and entered her apartment, tied her up and kept her hostage. The women, Ashley Smith read from the bible and attempted to convince Nichols t turn himself in to police.She pled with him to be reasonable and he ultimately allowed her to leave the apartment he following morning, at which time she called 9-1-1 Nichols eventually surrenders when law e nforcement arrives. Nichols was indicted but pled not guilty. Nichols mental health issues will be used in the defense. The police chief has admitted a number of errors in the initial search for Nichols that occurred in the search for Nichols initially. It is unclear how Nichols could have escaped custody, found his may to the courtroom and then outside to the parking garage where he stole a car and drive thirty miles until he met with Ashley Smith.Civil suits by the victim’s families are likely. . It is likely that Bran Nichols had a substantial drug use history and or a serious mental heath issue. The lack of appropriate security measure and protocols allowed Nichols to escape from holding cell and murder three people. Issues with funding for the defense in this trial has resulted in delayed hearings and it is possible that Nichols could ultimately allege that he was denied a competent and credible defense.The mounds of evidence against Nichols including tapes and video fro m he courthouse, makes this a particularly complicated and difficult case for the defense. References Atlanta Police Admit Mistakes in Brian Nichols' Case By Jeralyn, Section Crime in the News Posted on Fri Mar 18, 2005 at 04:39:33 PM EST CNN Law Center. Nichols Makes Court Appearance. http://www. cnn. com/2005/LAW/03/14/atlanta. shooting/ Court TV, Ga. judge delays courthouse shooting trial because of problems funding defense http://www. courttv. com/news/2007/0227/brian_nichols_ap. html

The Responsibility Project

The Responsibility Project The Responsibility Project 9/17/2012 ETH/316 The Responsibility Project The issues in this film are important because it shows how a typical shift may seem like everything goes wrong, and nothing could possibly make things worse. There are days when the typical worker wishes they did not get out of bed. Occurrences happen and people want to run off the job and give up, but people should not give up. Accidents happen, and when they do, people should evaluate what is happening at work. There are ways and options to fix broken lights, and equipment utilized on the job.At times it looks like there is no solution, but there are always options one may not view as available to them. The best option for an employee to choose is to not panic. The job looks dark at times, but there is a light at the end of the tunnel, or in this case, a light in the top of the lighthouse. The film teaches how equipment failures occur, but if people ban together and help each other th e job will go smoothly and the organization of the company improves. The roles of external social pressures have a high amount of influence in organizational ethics.The news media, social networks, and word of mouth of customers affect the organizations publicity and reputation immensely. The employees of a company should always remember to help each other when they are able, and an extra hand makes light work. Social pressures influence organizations and companies to maintain quality assurance within the organization. The company must maintain a clean, safe, and productive environment at all times. A well-organized company will work with ease, and if the equipment is well maintained the company is productive and more efficient.If the company is dangerous for the employees and the customers, the publicity is hazardous for the economic status of the company. These issues are relevant to the organization because if the news media knows a certain organization is hazardous to the health of the employees and the customers, the business will fall into economic strife, and this would lead to the downfall of the local economy as well. It is important for the maintenance and upkeep of the equipment to remain healthy and well adjusted. If proper maintenance and equipment checks are not regularly scheduled, the equipment may malfunction.Clean work areas and production floors are necessary to keep the company running smoothly. A clean and well maintained work place will minimize errors and accidents. When all the employees maintain their work area and continue to perform their tasks of production, the organization will have a proper balance and flow of output. The relationship between legal and ethical issues in this film about a lighthouse is brilliant. The video tells a story in three minutes that had my imagination flowing with years of friendship and responsibility between the men of the town, and the workers of the lighthouse.The ship is in danger of crashing on the rocks off the shore, and the men in the town are off work, and in the local pub. They are jovial and happy at their gathering, while the man in the lighthouse is at his post. He sits there documenting his ledgers, and when the light makes a noise and goes out, he stumbles in the darkness to investigate his equipment. He is a bit clumsy at the light when he is trying to repair the damage, and he breaks it worse than it was. He unethically had a mess of tools in the work area he tripped over, but that was not illegal.Sadly the boat continues towards the lighthouse in the dark. The man in the lighthouse soon hears a noise. He opens the door and sees all the men in town climbing up the hill to offer him a light. They all stand around the top of the light tower with their lanterns just in time for the boat to turn and safely go around the peninsula. The men in town were not legally responsible to save the ship, or help with the lighthouse, but ethically the town all pulled together to he lp each other. Reference http://www. youtube. com/watch? feature=player_embedded&v=FIG0L5OhhdE

The wealth for wealth sake- the ethical perspective of profit making. The WritePass Journal

The wealth for wealth sake- the ethical perspective of profit making. INTRODUCTION The wealth for wealth sake- the ethical perspective of profit making. INTRODUCTIONSHAREHOLDER WEALTH MAXIMISATION/ LEVELS OF RETURNSSTAKEHOLDER AND AGENCY THEORYAGENCY THEORYCORPORATE SOCIAL RESPONSIBILITY AND ETHICSETHICSCONCLUSIONCHALLENGES AND THE LEANING OUTCOME I FIND MOST DIFFICULTREFERENCERelated INTRODUCTION This report seeks to explore the topic ‘wealth for wealth sake- the ethical perspective of profit making’, stakeholder theory, agency theory, corporate social responsibility, ethics and if any relationship exist between these concepts and level of company’s returns using British Petroleum Plc as a case study. These issues have sprung up a lot of debates in the last decade, with some of the opinion that the sole aim of an organisation is the maximisation of wealth for its shareholders while others hold the view that organisations should be responsible not just to their shareholders but to stakeholders. In view of this, this report will discuss these issues by examining diverse views and research on these issues and whether the focus of companies should be based solely on maximising shareholder wealth or if companies should pursue other objectives beside wealth maximisation. SHAREHOLDER WEALTH MAXIMISATION/ LEVELS OF RETURNS A business exists to maximise wealth for its shareholders and the manager has a duty to act solely in the interest of the shareholders (Friedman, 1971 in ACCA p1, 2011, p.147).   Friedman was of the view that organisation cannot have responsibility and so not accountable to anybody but its shareholders. This view was reiterates by Grant, 2011 who said that organisations are entities that have the right to maximise profit. However, a business though an artificial person in law, has the same rights and responsibilities as human beings and thus accountable for its actions and this invariably bestows its some responsibilities to those groups who are affected by the organisations activities and decisions (ACCA P1, 2011, p.146). The question is then whether organisations should make wealth at the expense of other stakeholders, such as the customers, suppliers, employees, community and society?   These organisations in question are kept running by communities of people who all share com mon goals and values and shareholder wealth maximisation is being made possible because of the effort and actions of these group of people despite the fact that the shareholders provides funds for the business. An organisation who fails to recognise its stakeholder is asking for trouble as employees can boycott work or customers can stop buying from them. The implication will be a fall in share price and since shareholder wealth is measured by the value of shares they own in the company, there will be a reduction in shareholder wealth.   Studies have shown that businesses that are ethically sound are rewarded with additional customers while those that are unsound are boycotted and employees show more commitment to socially responsible companies (ACCA p1, 2011, p.147). Friedman fails to realise that organisations are first and foremost communities of people working together for a common purpose and the existence of community automatically give rise to mutual responsibilities (Grant , 2011 in (Blank and McGurn, 2004; Gates, 2004; Gini, 2004). Moreover, the market is a network of relationships and it is the working of these various relationships that makes an organisation efficient or inefficient. Bp has a better understanding of the importance of developing relationships with the stakeholders when in April 20, 2010 the Gulf of Mexico oil spill in America Killed eleven workers and left 17 injured in a bid to maximise wealth (Mardell, 2011). The company was charged $20bn as compensation fund (Palmer, 2011). Bp continues to pay dearly for its actions long after the incident with the continuous fall in the share price as evident in the graph below: Bp Share Chart April 2010 to April 2011 SOURCE: ADVFN, 2011 Bp had the biggest fall in share price following the spill by more than 6% on opening and ended the day 4.7% down (Merrison, July, 2010). BP Share Price 1-Day Chart SOURCE: SKY NEWS, 2010 As at June 9, 2010, two months after the incident, Bp is below book value and trading less than half of its 52-week high, and its worth less than $100 billion. The company which has been paying out a steady 84 cents per share per quarter now has that payment in jeopardy as there is a $4.50 fall in the share price and a dividend of $3.36 is currently being paid on a stock worth $30 (Salmon, 2010). Analysts even went as far as proposing an exit for Bp via a takeover. STAKEHOLDER AND AGENCY THEORY Stakeholders are all those agents who are concerned about the growth and development of an organisation (Pesqueux et al, 2005, p.6 in Mercier 1999). They are those individuals, groups or organisations who are interested in and or are affected by the activities of an organisation. (Boddy, 2011, p.637) and (Mallin, 2010, p. 63-67). Mallin identified several stakeholders and the nature of their interests and expectations in the organisation which are: EMPLOYEES: whose interest is in job security, fairness in promotion and pay and working conditions, personal development among others. Others are environmental groups, communities, customers, suppliers among others (Mallin, 2007, p.51-53). The law of corporations says that the firm should be run primarily in the interest of shareholders; stakeholder theory does not give preference to any stakeholder. Organisation should seek a balance relationship among all its stakeholders as an imbalance will put the survival of the organisation at stake. Jensen (2001) supported this view when he said that a firm who seek to maximise wealth cannot ignore the interest of its stakeholders. Buttressing the point that stakeholders not just shareholders are paramount to the success and wealth of a stakeholders, Freeman maintained that effective stakeholder management is important to the survival and prosperity of an organisation as opposed to Friedman who argued that the only responsibility of business is to engage in activities design to maximise wealth for the shareholders and anything contrary to this is stealing. However, Friedman opined that in the pursuit of this goal, the business must conform to the basic rules of the society whic h are embodied in ethical customs, giving credence to the fact that ethics is key to business performance. Mallin 2007, p.7273 raises concerns as to whether a board can function effectively with multiple objectives and which should take priority over others, not to mention the fact that the enhancement of shareholder wealth is given supremacy in the United Kingdom. AGENCY THEORY Managers of a firm own a duty to shareholders to make all effort to maximise shareholder wealth by working in their interest. Alternatively, managers are also concern in working for their own best interest giving that economic theory of rational choice maintains that human nature being selfish will engage in activities that benefit them rather than others (Bradburn, 2001, p.4). However, there have been a lot of cases of selfless service in history such as Mother Theresa of old. Agency theory arises thus as a result of the conflicts of interest between management and shareholder due to separation of ownership from control. Studies have shown that managers substituted their interest in place of those of shareholders just like the case of Enron Corporation (ACCA, paper p1, 2010). Agency problem therefore arises as a result of managers making decisions that are contrary to the maximisation of shareholder wealth and possible causes of this are Separation of ownership and control: shareholders the principal fund the company but appoint agents, management to control the affairs of the company on their behalf. Differing goals between shareholders and management: Shareholders want high return on investment and thus want managers to take higher risk. However, managers are risk averse and tend to minimise risk by investing in low risk projects as oppose to shareholders who want higher returns on their investment thereby reducing shareholder wealth. Asymmetry of information: Because management are involve in the day to day running of the company, they have access to all financial and management information which the shareholders have no access to except the annual report of the company that are often times subject to manipulation (Watson and Head, 2007, pp.11-12). This was the case of Enron whose managers engaged in fraudulent creative accounting techniques in a bid to build empires at the expense of shareholders which led to the eventual collapse of the company. According to Jensen and Meckling, agency problem occurs when managers own less than 100% of the firm. He argued that managers are driven by power and control rather than maximizing shareholders wealth and often times seek to build empires. Thus take decisions that maximise their interest rather than the shareholders such as increase in managerial pay, rewards and job security. As a result of this conflict of interest and in an attempt to ensure that management interests are in line with those of shareholders, agency costs are incurred such as legal cost, cost of managers’ incentives and monitoring among others (ACCA, paper p1, 2010, p.23). To resolve problems arising from goal congruence between shareholders and management, Measures have been put in place by shareholders to minimise these problems: Monitoring activities of managers: Here external auditors are put in place to ensure that the financial statements prepare by the directors show a true and fair view of the affairs of the company. However, in the process agency costs are incurred. Performance related pay: Executive share option schemes: In an effort to encourage executives to maximise shareholder wealth and reduce managers aversion to risk, share options are introduced which allow senior managers to own certain number of shares in the company at a fixed price. The downside of using share option to check and balance senior executives is the fact increase in share price due to boom in the economy and general market trends will result to executives being rewarded not base on the merits of their performance (SIGLER, 2009, pp. 762-764). CORPORATE SOCIAL RESPONSIBILITY AND ETHICS It has become increasing important that organisations become actively responsible and makes ethical business decisions as a result of the recent scandals that have gulfed the business world, from Enron to WorldCom among others. The business world and the community can no longer fold their hands and watch in horror in anticipation of when the next big scandal will rock the world economy. Thus, the need to revisit the role of ethics and corporate social responsibility in today’s business world. Although corporate social responsibility is closely linked to ethics because an outcome of ethical conduct is social responsibility (Dubrin, 1994, P.44), however, Blowfield, 2008, p. 12 13 in Davis 1973 explains that corporate social responsibility begins where the law ends. It is the positive impacts companies made on the lives of the community and beyond the society in which they operate outside of their legal obligations. Siegel and Vitaliano (2007) argued that CSR occurs when firms e ngage in activity that appears to advance a social agenda beyond that which is required by law. There is no doubt that corporate social responsibility is of paramount importance to the performance of a business as evidence have shown that organisations who put social responsibility as top most priority in their agenda will have a strong financial performance (Schermerhorn, 2002, p.159). In a poll in 2005, eighty-one percent of executives said that corporate social responsibility is important to their business. Majority of the executives were of the opinion that the purpose of a business is to be a steward in the society as it has duties to its stakeholders such as the customers, shareholders, employees, community and the environment (Blowfield, 2008, p. 10). In addition, there is little or no reason to believe that organisations cannot maximise wealth for their shareholders while performing other public responsibilities. Svensson et al, 2011,p.29 in Lea 1999 agrees with this when he said that ‘it is the various stakeholders that determine the economic performance of a business and that profit   will arise naturally from the performance of their business practices such as being socially responsible’. Similarly, Freeman et al 1988, p.47 stressed further this by saying that financial performance and ethics are the same thing. For an organisation to maximize wealth, it needs to maintain relationships with several stakeholders that affect or are affected by its decisions (Presqueux, 2005, p.8). Business should not only look at the immediate returns, but at the communities who will become their consumers. This indicates that companies need to re-examine the nature of their interactions and the effects on their stakeholders (Gibson, 2007, p.xiv). Martin 2003, p.87 in an article in Harvard business review maintained that organisations exhibit socially responsible behaviour because it create goodwill among customers and enhances shareholder value. Little wonder more companies have come to the significance of being socially responsible and have become actively involved in building key relationships with their various stakeholders. Some have gone from being socially responsible to becoming sustainable due to increasing awareness to conserve and protect earth’s limited and depleting resources (May et al. 2007, p.237) such as the G8 summit. British petroleum, BP in 1997 took a stand on climate change by reducing greenhouse emissions. This socially responsible act Bp claims has cost them nothing but increased net income by $600 million. However, the same Bp in 2010 was involved in an oil spill that led to 11 employees’ death and pollution due to negligence and an attempt to cut cost and increase shareholder wealth (Mar dell, 2011). Bp as a result suspended dividend payments to shareholders with $25 billion dollars set aside to cover compensation claims (Boddy, 2011, p.161). Apple and Microsoft are massively involved in CSR while still creating value for their shareholders. (Heal, 2005, p.14). Alternatively, there have also been those who argued that acting socially responsible has no impact on the wealth of an organisation. Friedman in an article published in 1970 argued that an organisation has no responsibility other than maximising shareholder wealth through legal and accepted means. Friedman was one of the capitalists who emphasised strict completion, wealth maximisation and reduction in expenditure which serve as barriers to acceptance of ethical practise in business. Monsanto was destroyed while acting socially responsible. The company invested money to make crops more productive without the use of chemicals. This backfired as it was faced with oppositions from environmental activists and consumers, thus making farmers to abandon them, causing financial threats to the company and the subsequent takeover. The quest to maximise shareholder wealth should not put other stakeholders’ lives in jeopardy. Take for instance Ford Motors whom in the sixties in an attemp t to improve market position, fight competition from companies like Volkswagen and subsequently increase wealth for shareholders made the affordable Ford Pinto that was produced very cheaply with the petrol tanks placed in a position that endangers lives. Analyst believed Ford knowingly choosing profit over safety. The car poses risks and do not meet up with the legislation, yet the car was put up on sale. What followed were series of car accidents that caused many lives. Ford motors continued to sell the car as the cost of removing the product from the market far outweighs the law suit that would arise. The company was sued, though it won the lawsuit, but its reputation was badly damaged which affected the market share and subsequently the shareholder wealth they were aiming for (Boddy, 2011, p.135-136). The company in an attempt to maximise wealth for their shareholders put profit first before the safety of its customers and the community and operated outside the legal and accepte d standard advocated by Friedman. ETHICS Ethics are the norms and standards for judging good versus bad, right versus wrong. It thus defines whether actions taking by an organisation are under moral grounds (May et al, 2007, p. 157). However moral behaviour is dependent on some circumstances of time and places or on each individual decision-maker. It provides a support for maximising shareholder value in the long term and an understanding of business ethics will enhance business targets and improve performance (Sternberg, 1994, p. 15). In a survey of CFOs carried out by ACCA, it was discovered that companies that build a culture of ethics are more likely to succeed financially. Also, good ethics they say means good business (Chriysside and Kaler, 1996, p.8). Studies have shown that employees are more inclined to work for companies that are ethically and socially responsible (Weiss J, W, 2003, p.11). The pursuit of shareholder wealth should be within the confines of ethical behaviour as an organisation that solely pursues we alth maximisation will act unethically (Gibson, 2007, p.7). More so, managers believes that shareholders interest is in wealth maximisation, however, shareholders differ on this view depending on the nature of their investment with time. Some shareholders wants returns on the short term through dividends and often times, such shareholders are not inclined to acting ethically as opposed to those who wants their returns reinvested to achieve capital gains in the longer term. Boddy states that evidence have shown that investors are willing to invest in business that encourages ethical decision making. Therefore, companies need to integrate values such as trust, honesty, integrity and fairness into its policies, practice and decision making (Blowfield, 2008, p. 18). In recent times, series of companies with strong ethical policies have been found in breach of the law. This was the case of Boeing in 1998 when despite its ethical guidelines on procurement, corruption and marketing used co nfidential materials stolen from its competitor Lockheed Martin to win defence procurement contracts with the United State government. This led to it suspension from bidding for defence contracts. Ethics is a necessity in the achievement of profits, growth and shareholder value (Blowfield, 2008, p.190). Conversely, an organisation that acts unethically will have its reputation damaged and boycotted by its stakeholders just like the Ford Pinto, Enron and WorldCom. Enron despites having a Code of ethics had its senior management concealed debts worth $35 billion. The exposure of this fraudulent act led to a drop in share price from $90 to 61 cent (Gini, 2009, pp.104-115). Royal Dutch shell adopted the slogan people, planet, profits in an attempt to regain lost trust in the Niger Delta region of Nigeria and criticism for its proposed scrap of Brent Spar oil storage platform in the deep Atlantic (Blowfield, 2008, 61). It is therefore not acceptable for business to say that anything it d oes within the confines of law is ethically acceptable. In the 80’s, the Beech-Nut Nutrition Corporation had its executives sentenced by a jury for purported selling baby apple juice which in reality contain little or no apple juice. The company’s shares of $750 million dropped from a high of 20% as a result to 17% (Gini, 2009, pp.29-31). Pressure is being mounted on businesses to go beyond the law by according respect and dignity to stakeholders, thus the need for organisations to consider responsibilities to those whom their decisions will affect. Managers have to balance the demands to maximise wealth for shareholders with those of acting ethically in the pursuit of wealth and being responsible to its stakeholders whom are affected by its decisions as doing contrary to this could be detrimental or poses to the business and shareholder wealth just as Dearlove 1998 suggests that ethical behaviour should be imbibed as a core value of business. Corporate social responsibility and ethics in a lot of ways increases wealth for shareholders as illustrated in series of examples above. However, organisations will need to weigh the benefits and advantages accrued from it and come to a balance. This is not to say that companies should pursue wealth at the expense of other stakeholders’ lives. CONCLUSION The aim of this report was to discuss the objective of the company as to whether the maximisation of shareholder wealth should be the sole objective of the company. Evidences reviewed in the report pointed to the fact that wealth maximisation should not be the sole aim of the company, other stakeholders who are affected by the company’s decision should be considered and the involvement of these various stakeholders evidence shown create company goodwill and increase shareholder wealth. It is therefore imperative that companies pursue other objectives beside wealth maximisation. REFLECTIVE JOURNAL WHAT I LEARNT FROM TAKING PART IN THE COURSE WORK: This report gave me a better insight into shareholder wealth maximisation and levels of returns, stakeholder theory, agency theory, corporate social responsibility and ethics. I learnt to work with limited time and meet up with strict deadline and to effectively manage my time. MY RESAERCH TECHNIQUES: My research techniques was based on reading journals, text books,   Harvard Business review, television station archives such as BBC News, Ft.com,Rueters.com and internet sources. MY MOTIVATION: My motivation stemmed from my drive to produce a quality course work. So my motivation was strong as I worked really hard to meet up with the deadline for the assignment. WHAT I WILL DO DIFFERENTLY NEXT TIME: I would ensure that I have done a thorough research regarding the subject matter before commencing my work as this will make it easier and save me time. THE FOLLOWING ARE THE LEARNING OUTCOMES WHICH I FIND EASIEST Corporate social responsibility which bothers on the ground that organisation in their pursuit of shareholder wealth needs to consider the positive impacts they made on the lives of the community and beyond the society in which they operate beyond that which constitute their legal obligations. I got to know that corporate social responsibility enhances shareholder wealth maximisation despite some argument which stress sole objective of wealth maximisation. CHALLENGES AND THE LEANING OUTCOME I FIND MOST DIFFICULT Stakeholder theory was particularly difficult for me as I have challenges getting relevant materials for it. Another was ethics which in a way is like a twin to corporate social responsibility. I realised while writing ethics that most of what I had to talk about were already discussed in corporate social responsibility making it difficult for me to have a balance word count between the two concepts. Thus ethics was also touched on in corporate social responsibility and vice versa. I believe I have done this work to the best of my ability and it will be useful to me in my future career prospects. REFERENCE ACCA. 2010. Ethics linked to better business performance. [WWW]. accaglobal.com/allnews/national/zimbabwe/ethics   (9/4/2011). ACCA. 2010. Paper p1: Governance, Risk and Ethics. Complete Text-June and December, 2011 Exam Sittings. UK: Kaplan Publishing Limited. ADVFN. 2011. [WWW].   Bp Share Price. advfn.com/lse/SharePrice.asp?shareprice=BP. (7/4/2011). BLOWFIELD, M, AND MURRAY, A. 2008. Corporate Social Responsibility: A critical Introduction. Newyork. Oxford University Press. BODDY, D and PATON, S, 2011. Management: An Introduction. 5st. Edn. England: Pearson Education Limited. BRADBURN, R. 2001. Understanding Business Ethics. London: Continuum. CHRYSSIDES, G AND KALER, J. 1996. Essentials of Business Ethics. London: McGraw-Hill. COLLINS, D. 2006. Enron: the good, the bad and the really ugly. In: GINI, A and MARCOUK, A.M. Case studies in business ethics. 6th.Edn. London: Pearson prentice Hall, pp. 104-115. DEARLOVE, D. (1998). Key Management Decisions. London: Pitman Publishing. DUBRIN, A.J. (1994). Essentials of Management. 3rd.Edn.Ohia: South-Western Publishing Co. FRIEDMAN, M. 1970. The social responsibility of business is to Increase Its Profits. In: BURCHELL, J. The corporate social Responsibility reader. Oxon: Routledge, pp.84-89. GRANT, P. 2011. Aristotelian approach to a sustainable business. Corporate governance [Online journal], 11(1), pp. 4-12. Available from Emerald at emeraldinsight.com/search.htm?st1=patricia+grantct=allec=1bf=1. (16/3/2011). GIBSON, K. 2007. Ethics and Business. Uk: Cambridge University Press. HEAL, G. 2005. [WWW] Corporate Social responsibility: an economic and financial framework. The Geneva papers on risk and Insurance-issues and practice. https://europealumni.kellogg.northwestern.edu/research/fordcenter/conferences/ethics06/heal2.pdf (4/4/2011). JENSEN, M, C. and MECKLING, W, H. 1976, Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics. [Online Journal] sfu.ca/~wainwrig/Econ400/jensen-meckling.pdf. (17/3/2011). MALLIN, M, A. 2010. Corporate Governance. 3rd .Edn. New York: Oxford University Press. MARDELL, M. 2011. Failure of an industry. [WWW] bbc.co.uk/blogs/thereporters/markmardell/2011/01/the_failure_of_an_industry.html (5, 4, 2011). MARTIN, L, R. 2003. The Virtue Matrix: Calculating the return on corporate responsibility. In: HARVARD BUSINESS REVIEW. Harvard Business Review on Corporate Social Responsibility.USA: Harvard Business School Publishing Corporation. Pp. 83-103. MAY, S, CHENEY, G AND ROPER, J. 2007. The debate over Corporate Social Responsibility. New York: Oxford University Press. MERRISON ED. 2010. Seep Fears Fuel Drop in BP Share Price [WWW] http://news.sky.com/skynews/Home/Business/Seep-Fears-Fuel-Drop-In-BP-Share-Price-US-Coastguard-Demands-Action-Plan-From-Oil-Giant/Article/201007315667088?f=rss (4/4/2011). PALMER, J. 2011. Gulf spills effects may not be seen for a decade. [WWW] bbc.co.uk/news/science-environment-12520630 (30/3/2011). SALMON, F. 2010. The ever falling Bp share price. http://blogs.reuters.com/felix-salmon/2010/06/09/the-ever-falling-bp-share-price/ (4/4/2011). SCHERMERHORN, J.R. (2002). Management. 7th. Edn. Newyork: John Wiley Sons. SIEGEL,   D. and VITALIANO, D.   2007). An empirical analysis of the strategic use of corporate social responsibility. Journal of Economics and Management Strategy, 16(3), pp. 773-792. SIGLER, K, J. 2009. A brief overview of executive stock options in reducing the agency problem of excessive risk aversion. Management Research News [online Journal] emeraldinsight.com/journals.htm?issn=0140-9174volume=32issue=8articleid=1800682show=pdf (6/4/2011). STERNBERG, E. 1995. Just Business: Business Ethics in Action. 2nd.Edn. London: Warner Books. SVENSSON, G. AND WOOD, G. 2011. A conceptual framework of corporate and business ethics across organisations: Structures, processes and performance. The learning organization. 18(1). pp.21-35. PESQUEUX YVON AND SALMA DAMAK AYADI, 2005. Stakeholder theory in perspectives. Corporate governance. 5(2) WATSON D, AND HEAD, A. 2007.Corporate Finance: Principles and Practice. 4th. Edn. England: Pearson education. WEISS, J, W.2003. Business Ethics: A Stakeholder and Issue Management Approach. 3rd. Edn. Ohio: South Western.

Gay Celebrities in Interracial Marriages and Relationships

Gay Celebrities in Interracial Marriages and Relationships Interracial marriages occur more frequently among gay couples than they do among their heterosexual counterparts. Data from the 2010 census reveals that 20.6 percent of same-sex couples are interracial. That’s more than two percentage points higher than the amount of unmarried heterosexual couples (18.3 percent) in interracial relationships, and more than double the amount of married heterosexual couples (9.5 percent) in such relationships. Given the prevalence of cross-cultural relationships in the gay community, it’s no wonder that many of the celebrities who’ve come out as gay in recent years have partners of a different race. Learn more about the gay celebrities in interracial marriages and relationships with this list rundown. Robin Roberts and Amber Laign Robin Roberts came out as gay in a Facebook post in December 2013, making her arguably the most famous black lesbian in the country. The co-host of â€Å"Good Morning America† has fought breast cancer and a rare blood disorder called myelodysplastic syndrome in recent years. One of the reasons she chose to finally come out is to recognize the support she’s received from her longtime girlfriend, Amber Laign, who is white. â€Å"At this moment I am at peace and filled with joy and gratitude,† Roberts wrote. I am grateful to God, my doctors and nurses for my restored good health. I am grateful for my sister, Sally-Ann, for being my donor and giving me the gift of life.I am grateful for my entire family, my long time girlfriend, Amber, and friends as we prepare to celebrate a glorious new year together. I am grateful for the many prayers and well wishes for my recovery. I return every one of them to you 100 fold.† When Robert identified Laign as her girlfriend in a Facebook post, the couple had been involved for a decade, according to reports. Roberts and Laign live in an apartment together in New York, and their relationship was known to the ABC News staff. Roberts may have decided to go public with the relationship because she’s writing a memoir, to be released in April 2014, about the health problems she’s overcome. Mario Cantone and Jerry Dixon After 20 years together, comedian Mario Cantone, an Italian American, and Jerry Dixon, an African American, wed in October 2011. He announced his nuptials to the musical theater director on ABC’s â€Å"The View,† the chat show where he frequently serves as guest co-host. â€Å"We’re older now. We’ve been together 20 years,† said Cantone on   the talk show. â€Å"After 20 years you’re like, ‘Thanks for the anti-climactic honeymoon, government!’† Cantone, of course, was taking aim at the government for preventing same-sex couples from marrying. On a more serious note, Cantone revealed that his family members attended the wedding and that Jay Bakker, the son of late evangelist Tammy Faye Bakker Messner, conducted the ceremony. Wanda and Alex Sykes Comedienne Wanda Sykes, who is African American, wed her white wife, Alex, in 2008. The couple has two children together. Before her marriage to Alex, Sykes was married to a man. Sykes remarked on â€Å"Oprah’s Next Chapter† that she didn’t come out to her mother until she was 40 years old. It took several years for her mother to accept Syke’s sexual orientation, the comedienne told Oprah Winfrey. Sykes also said that as a black woman and a lesbian she faces three different forms of discrimination. In addition, she finds objection to same-sex marriage to be peculiar. â€Å"I don’t understand why people really get upset about something that doesn’t affect them,† she said. â€Å"And I say, do you know how many people got married yesterday? Neither do I and I don’t care.† Alec Mapa and Jamison Hebert Actor Alec Mapa of â€Å"Half Half† and â€Å"Ugly Betty† fame married filmmaker Jamison Hebert in 2008. Mapa is Filipino and Hebert is white. The two have an adopted African-American son named Zion. Mapa has said that he still faces discrimination because of his relationship. He recalled the time he and his family entered the United States after a jaunt to Mexico and a customs agent behaved rudely toward them. â€Å"He was really brusque - he said, ‘You know we don’t recognize this federally, it’s the United States,’† Mapa recounted. After the customs agent spotted the couple’s young son, however, he relented. George and Brad Takei Actor George Takei of â€Å"Star Trek† fame married his husband, Brad, in 2008. Takei is Japanese-American and his husband is white. The couple had been together for 26 years before tying the knot. They married when the state of California finally allowed same-sex couples to wed. Takei’s husband, born Brad Altman, decided to take his last name, legally changing it after the marriage ceremony. â€Å"I argued with him on that,† Takei explained to â€Å"Access Hollywood Live.† â€Å"He wanted to become a Takei.†

Variability of Blood Glucose Concentration and Short-term Mortality in Article

Variability of Blood Glucose Concentration and Short-term Mortality in Critically Ill Patients - Article Example 244). They conclude their introduction with the hypothesis that the SD of blood glucose concentration, when studied in a group of critically ill patients, will be a reliable and independent predictor of mortality. In describing their materials and methods, the researchers note that they are using a multi-center, retrospective observational study; the data collection for which was part of a pre-existing quality assurance activity approved by local institutional ethics committees. The research was focused upon four hospitals and controls established to include population data from all patients admitted to the intensive care units from January 2000 to October 2004. The timeframes were constructed specifically to ensure the collection of complete blood glucose data and patient characteristics. The authors proceed to note very specific controls regarding data integrity and collection methods. It should be noted that only two of the hospitals in the study collected prospective information to allow the researchers to identify diabetic patients; an important determiner in blood glucose management in general and critically-ill patient mortality specifically.

MHE503 Survey of Emergency and Disaster Mgt Module 4 Case Essay

MHE503 Survey of Emergency and Disaster Mgt Module 4 Case - Essay Example The evacuation of such huge population would have been a task nearest to impossible, but it was the availability of aircrafts in the U.S military base which escorted the locals safely. The Clark Air Force Base offered its services to the response team of Volcano Disaster Assistance Program; the team was fully engaged towards the monitoring of the volcano. The team was able to install certain instrumentation for the purpose of seismic monitoring; the intent of this exercise was to determine the occurrence of earthquakes and conduct the mapping of the volcanic deposits. The monitoring equipments assisted the team to realise that "large eruption was imminent". Soon after this confirmation, the evacuation scheme was pursued. It was the monitoring equipments which assisted the geologists in determination of the actual threat. From the incident of Mount Pinatubo eruption, it has been confirmed that the importance of monitoring equipments is immense, and the timely application of these moni toring equipments can assist in the estimation of challenge, and its extent (Goodwin, 2002). The technological advancement is the key to safe and secure future (Murphy, 1989). The presence of the American military base offered U.S. Geological Department to conduct its activities without further diplomatic intervention, and the timely intervention with application of the latest gadgets secured the future of hundreds of thousands. The American military was able to mobilize its hardware to secure locations, and damage worth millions of dollars was prevented. From geological aspect, any geological catastrophic is never spontaneous. The geological upset occurs when certain activities between the layers of the Earth take momentum; these activities are steady, and accelerate when porosity on the earth layer exists. The installation of the monitoring equipments - which in actual determines the nature and momentum of activities occurring inside the earth layer, assists the government and non-governmental organizations to develop evacuation plan to prevent major loss to humanity (Blair, 2001). At international forum of USGS Cascades Volcano Observatory, it was confirmed that economically it is not possible to install the monitoring system near all the volcanoes. The focus was towards the development of portable monitoring instruments that "could be quickly deployed to a reawakening volcano"; through installation of such system the critical parameters including "earthquakes, ground deformation, mudflows, and volcanic gas emissions" can be traced and recorded (Blair, 2001). The Volcano Disaster Assistance Program - VDAP was established to offer assistance to all the countries where volcanic eruption was a challenge, under this program the mobile team of VDAP will offer services for monitoring, will assist in the determination of actual challenge, and will "provide timely information and analysis to emergency managers and public officials". This institution is also committed towards training, and conduct exercises and workshops for evacuation team squad etc. Perry has identified three important activities which shall be practiced and executed internationally to avert humanitarian crisis due to volcanic eruptions. The identification areas for improvement include, 1. public education 2. access controls 3. evacuation systems (Perry, 2005) These three measures are important under social management technique to avoid

Reconstruction for Assigned Reading Essay Example | Topics and Well Written Essays - 250 words

Reconstruction for Assigned Reading - Essay Example The beauty of this partnership is that private investors by virtue of shouldering upfront costs have a powerful influence in terms of incentives to ensure timely completion of projects. The overriding factor of the PPP’s is that they have a customer service ethic that government operated roadways lack. These PPP’s enable investors to profit primarily toll revenue, though not highly popular, is better than higher taxes and more government spending. The toll-funded roads are a noble idea since they will primarily regulate congestion on the roads. By increasing the toll during peak hours and decreasing it during off – peak hours, motorists will save much time since they will not be stuck in traffic. This will in turn reduce stress among motorist and save fuel. This would result in an improved economy. Further, the environment will not be polluted since auto emissions are higher in heavy traffic and significantly lower when traffic eases. Although PPP’s are not new in America, they remain an under-used engine for transportation infrastructure investments. Greater public education about the economic and environmental benefits of PPP’s is needed while federal action is also needed to encourage states to employ the use of PPP’s in transportation

The Fmcg Sector Is Currently Economics Essay

The Fmcg Sector Is Currently Economics Essay India has a huge untapped market in the rural areas as well which accounts for more than 700 Million consumers i.e. 40 of the total FMCG market. This market provides a huge opportunity for the FMCG sector because of its large market space and low levels of organized player penetration. 7) The FMCG sector has a strong future and will continue to see growth because it depends heavily on an ever-increasing internal market for consumption, and demand for these goods is more or less inelastic irrespective of recession or inflation. Thus, this sector will grow, though it may not be a smooth growth path, due to the present world-wide economic slowdown, rising inflation and fall of the rupee. However, this sector will see strong growth in the long run. 8) Unlike the developed countries where the FMCG sector is dominated by only a few players Indias FMCG sector is highly fragmented with both Organized and unorganized players playing an important role. The governments proposal of allowing 51% FDI in multi brand retail may impact the future of the retail sector to some extent though the impact is expected to be highly positive. Threat of new entrants: Moderate -Low regulatory barriers -Intense competition requires heavy investments in brand building which discourages small players Threat of substitutes: High -Multiple brands positioned with narrow product differentiation -Companies trying to gain market share compete on pricing which increases product substitution Rivalry among competitors: High -Entry of MNCs into the country -Use of extremely aggressive marketing strategies Bargaining power of consumers: Low -High brand loyalty for some products, discourages product shifting -Low switching costs -Aggressive marketing induce customers to switch between products MICHAEL PORTERS 5 FORCE MODEL Bargaining power of supplier: Moderate -Prices are governed by International commodity markets, making FMCG cos price takers -Due to the long term relationships with suppliers etc., FMCG companies negotiate better rates during times of high input cost inflation The above graph is based on the analysis of the sales and profitability of approximately 100 listed FMCG companies across foreign MNCs and large and small Indian players. As can be seen from the graph the average CAGR of the FMCG sector rose from 8% (2001-05) to 17% (2006-10). There has been a drastic increase in the CAGR in the case of foreign MNCs which shows the variety of choices available to the consumers Economy Impact: Favorable economic factors like GDP growth coupled with a rise in incomes, increased participation of women in the workforce and the tapping of rural markets have led to a spurt in the growth rate of the FMCG sector in the past decade. The Indian economy is expected to overtake UK in the coming decade, with GDP growth ranging between 8-10 per cent. India is expected to reach Chinas current population figure of 1.4 billion by 2020. Per capita incomes supported by various government schemes and policies are expected to rise in both rural and urban areas (The UPA govt cash transfer scheme for the poor people, expectations of economic recovery bring with it the hope of increased salaries and more employment opportunities all of which will lead to increase in the per capita income of the country that will have a direct impact on the FMCG sector) Participation of women in the Indian workforce is also likely to rise. Estimates suggest that if it increases to approximately 70 percent (as in the developed nations), it will further boost GDP growth by 2-3 per cent. Favorable government policies such as the introduction of GST can be expected to substantially decrease supply chain costs. FDI in multi-brand retail up to 51% will open up a large channel for sales. Other policy measures such as lower income taxes, the Food Security Act, Right to Education, infrastructure schemes etc have also acted as enablers of higher consumption. Evolving Consumer Profile: India has a comparatively younger population compared to most other countries of the world, who have greater willingness to spend on better quality products which is expected to boost the consumption-driven economy. Young population (below age of 30 years) comprise 59 per cent population currently, and the composition is likely to remain similar over the next decade. Rural markets, given the current low penetration and high untapped potential are expected to bring about super-normal growth for FMCG companies. All these factors will combine to catapult consumer demand for FMCGs to newer heights. Interest rates and inflation and its impact on the FMCG sector: Given the current economic scenario and the average inflation rates at 9.09% in India (2012) it has a taken a toll on the FMCG sector. High prices have led to reduced consumption of FMCG goods leading to fall in demand which has led to lower sales for the companies and affected their profit margins. Also, as a result of inflation prices of raw materials have shot up leading to a spurt in the cost of production for companies which has again had a negative impact on the profit margins. The central banks decision of cut in interest rates has made it easier for the companies to borrow money in the capital markets to further their plans of expansion and diversification but it has not led to any major increase in consumer spending. Major players in the FMCG industry: 1) Foreign Players: Hindustan Unilever Ltd., ITC, Nestle, Reckitt Benckiser, Cadbury, Procter Gamble, Godfrey, Phillips, Henkel, Spic, Johnson Johnson, Revlon, PepsiCo 2) Indian Players: Marico, Dabur, Godrej, Wipro, Amul, Nirma, Britannia 3) Regional or small domestic players: Ajanta, Anchor, CavinKare etc SWOT Analysis of the FMCG sector: STRENGHTS: 1) Favourable government policies in terms of reduced level of taxes, fewer import restrictions on raw materials and technology and reduced barriers of entry of foreign players 2) Low operational costs as labour costs in India are very less 3) Existing and well established brands in the FMCG sector 4)Good supply chain and distribution networks in both urban and rural markets 5) FDI of 51% in multi brand retail will redefine the entire retail sector with new entrants, improvements in supply chain and distribution networks 6) Demand for FMCG products is mostly inelastic WEAKNESS: 1) Counterfeit products: This is a major problem that is hampering the growth of the FMCG industry. Counterfeit products account for an estimated 10-15% of the total size of the FMCG industry which resulted in a loss of INR 45 billion to the exchequer. 2) The scope of investing in technology is less and it is difficult for companies to achieve economies of scale particularly the small sector ones. OPPORTUNITY: 1) The rural Indian market presents a huge opportunity for the FMCG sector as still most of it is untapped and yet to be explored 2) Slow and steady rise in per capita income of the Indian population would lead to increase in demand for FMCG products 3) Burgeoning middle class with a lot of potential to spend large amounts of their income on FMCG products 4) India has a huge domestic market with close to 1 billion population 5) Tremendous export potential THREAT: 1) Increasing rate of inflation which is likely to raise the cost of raw materials thereby increasing cost of production and putting stress on overall industry profits 2) Rise in fuel prices may further lead to increase in distribution costs 3) Declining value of the rupee against other currencies of the world may further reduce margins as cost of importing raw materials will rise 4) Dipping industrial growth and slowing global economy may lead to fall in demand for FMCG products Future of the FMCG sector in India (2020) As per recent estimates the FMCG industry may grow at a base rate of at least 12 per cent annually to become INR 4000 billion industry in 2020. However, if the economic conditions turn out to be favourable and everything goes as expected the sector may even record a 17 per cent growth over the next decade, leading to an overall industry size of INR 6200 billion by 2020. This however depends solely on the future economic scenario. Modern trade is expected to grow very rapidly in the future with its share in total retail projected to reach 11 per cent by 2014 and 30 per cent by 2020 This growth will be supported by: -High economic growth: GDP is expected to grow at 8-10 per cent in the future, boosting growth in all sectors. Increasing incomes: Incomes are expected to continue to rise which should further drive spending. Increasing urbanization: Organized retail will continue to increase presence in Tier 1 and Tier 2 cities, which are growing faster than metros. -Improving infrastructure: The government is also focusing a lot on infrastructure development which is expected to improve the supply chain and distribution networks. Key to EDUCORPORATEBRIDGE investment rankings: BUY = Expected to outperform the local market by >10%; O-PF = Expected to outperform the local market by 0-10%; U-PF = Expected to underperform the local market by 0-10%; SELL = Expected to underperform the local market by >10%. Performance is defined as 12-month total return (including dividends). Â ©2011 EDUCORPORATEBRIDGE, India. Note: In the interests of timeliness, this document has not been edited. Other disclosures will come xXXXXXXXXXXXXXXXXXXXXXXXXX