Examine the stock returns for both Pfizer and AstraZeneca during the Essay

Examine the stock returns for both Pfizer and AstraZeneca during the bid process and provide possible reasons for changes in price on key dates - Essay Example 7.36). Comparing by the revenues, Pfizer is a larger company than AstraZeneca both the companies being products of the merger. Pfizer made four approaches earlier in 2014 terminating the bids in a full and final offer of 55 sterling pounds per share valuing AstraZeneca at 69 billion pounds (Battersby & Grimes 2014, p. 7.37). The current debt to equity ratio at Pfizer is at 0.49, a low and a below average industrial average. The low figure is an indication of good management of debt levels within the firm. Pfizer had a quick ratio of 2.03 demonstrating their capability to cover and settle short time liquidity needs. The gross profit of Pfizer during the bidding process span was a high figure of 85.18 percent with its net profit margin accounted at 22.92 percent. The net operating cash flow had a slight increase to $4,087 million, a figure equivalent to 6.71 percent comparable to the same quarter one year ago (US. Pharmaceuticals & Healthcare Report 2014, P.15). AstraZeneca rejected Pfizer’s final offer on grounds that the takeover may pose a risk to its pharmaceutical operations. In addition, the fear of the uncertainty that could arise led to the collapse of the bid process. It became hard for AstraZeneca to evaluate Pfizer’s final bid given the uncertainty over the total amount that Pfizer could trim off its tax bill by venturing in Britain. Pfizer offered a final bid of 69.4 billion sterling pounds, an equivalent amount to $ 117 billion terming the figures full and final. Lack of a proven parameter for evaluating a company with a growing and attractive growth prospects led to changes in prices on the final day. Pfizer failed to factor in AstraZeneca’s future prospects in terms of sales and market base. The concerns on whether Pfizer would eliminate jobs after the merger and diminish Britain’s standing in life sciences indicate the political influence

The Double Entry System Essay Example for Free

The Double Entry System Essay According to the double entry accounting system, a business transaction affects at least two accounts and the debit and credit amounts recorded for the affected accounts must be balanced. These transactions will be recorded in the appropriate books of accounts. Business entities develop a chart of accounts, a list of account titles with their corresponding account codes that the business will use in recording and posting in the books of accounts and in reporting in the financial statements. Double Entry System was invented for the first time by Lucas Pacioli’ of Italy in the year 1494 in Venice but it was developed in England. This system is based on the truth that every business transaction involves two .parties— (1) Receiver and (2) Giver. There can not be any business transaction by only one party. If one part is giver of any thing, there must be one more party-receiver. If one part is seller; there must be the other party purchases. Receiver of the transaction is debtor and the giver is the creditor. Thus the transactions take place between two parties, according to Double Entry System every transaction is recorded twice. One party is the debtor and the other party is giver. Receiver is the debtor and giver is the creditor. Accuracy of accounts. The greatest advantage of Double Entry System is that arithmetical accuracy of accounts can be checked easily. Since every transaction is recorded twice, a Trial Balance can be prepared and it can be known whether each transaction has been correctly recorded twice or not. By applying. Double Entry Principle every transaction is recorded twice. Trial Balance can easily be prepared and with the help of Trial Balance Trading and Profit and Loss can be easily prepared to ascertain the gross profit or gross loss or net profit or net loss of the business. Knowledge of Financial Position. Financial position of the business can be known easily. By preparing Balance Sheet one can know what assets are possessed by the business and what liabilities are due by the business. Chances of fraud meager. By applying Double Entry Principles chances of committing fraud is very much minimized. If fraud is committed, it can be easilychecked by verification and auditing of accounts. †¢Comparison of Expenses— Comparison of expenses of the current year with the previous can easily be made. The system of double-entry bookkeeping does have the capa ¬bility of making a positive contribution towards economic growth. Although the ability of double-entry to reveal the success or failure of a business enterprise for a specific period of lime was not valued by the early merchants, double-entrys capacity to accumulate data on individual performing activities, combined with its ability to bring order to the affairs and accounts of these merchants, rationalized the economic activities of the early English merchants

Homespun to Sophisticated: Place as Transformer :: Philosophy Philosophical Papers

Homespun to Sophisticated: Place as Transformer Works Cited Missing It is common in the transcendental philosophy to associate the act of transcending with a place. Philosophers, artists, and writers fled to Niagara Falls and the White Mountains in search of sublime scenery that would connect them with God. One of the leading Transcendentalists, Ralph Waldo Emerson, states that "Nature deif[ies] us with a few and cheap elements" (Emerson, 27). The essential communion between man and nature, through something he calls the "Oversoul," enables man to transfer the world into the consciousness, thereby uniting himself with God. Ironically, as the Transcendentalists were streaming into the countryside, young women from farms surrounding New England, especially from the White Mountains, were flooding the cities looking for work in the mills. The "Lowell Girls" went into the city to earn money for themselves or for their families and to undergo a transformation from a "homespun country bumpkin" to sophisticated, respected city woman with a "sense of independ ence." These changes and improvements were part of the Lowell experience. The owners of the mills created a myth of the mills as a transformer which was then perpetuated by the mill girls via word of mouth or through their writings in the Lowell Offering. The fictions in the Lowell Offering express their desire to be seen as transformed into the ideal woman. The act of self-representation through writing, which has as its central essence the transformative power of a place, was utilized by writers such as Margaret Fuller, Nathaniel Hawthorne and Henry David Thoreau. The popularity of their writing and their ideas of the importance of the individual's relationship with God, nature and work surely influenced the Lowell women's writing and their desire to be seen as transformed. According to Transcendental philosophy, "nature is transcendental" (Emerson 197). "There was nothing in the intellect which was not previously in the experience of the senses, by showing that there was a very important class of ideas or imperative forms, which did not come by experience, but through which experience was acquired; that these were intuitions of the mind itself; and [Kant] denominated them Transcendental forms" (Emerson 197). Man experiences God and his power in the natural world. Beauty which is unavoidable in the natural world has "the presence of a higher, namely, of the spiritual element ... essential to its perfection. ... Beauty is the mark God sets upon virtue" (Emerson 28).

East-Asian Crisis Essay

Has state played a leading role in upgrading technologies in Asia Pacific? Answer with reference to relevant theories and use comparative country or corporate examples. Introduction: The state is a lever that navigates economic process. It is managed by the country government which consists of all educational, socio-cultural, economical and geographical factors. The national innovation systems in Asia have a great significance in the process of technology adjustment (the national institutions, their incentive structures and their competencies, that determine the rate and direction of technological learning (or the volume and composition of change generating activities) in a country.† (Patel and Pavitt (1994: 79)) (4) It sustains governmental institutions and forms economic conditions and opportunities. It influences a market by all restrictions and policies which navigate all import and export activities. The Asia Pacific region includes one of the most economically developed c ountries in the world. According to academic articles(8) developmental states as South Korea, Japan and Taiwan quickened their industrialisation in order to synchronise their economies with globalisation growth. From a historical perspective South Asia went through enormous industrial and state transformation after 2nd World War till the beginning of 21st century. An effective industrialisation process created the need of upgrading technologies and expanding business relations so to sustain the Asian competitive advantage and stabilise its economy. Furthermore a governmental institutional reform appeared to be essential element of the whole adjustment stage. The â€Å"tiger†(9) economies of Hong Kong and Singapore (plus these of South Korea and Taiwan) impressively adapted to balanced level of navigating their market and a â€Å"miracle† GDP growth followed. Examining the transformation processes in these economies creates an objective view of how the state influenced changes in technologies and why it has such a significant part in the East-Asian success. Body: The developmental states Japan: The process of industrialisation is a key developmental factor. It emerged in the beginning of the 20th century by the development of four machine industries: the rolling stock, spinning and weaving machines, machine tools and electric machinery(5)Between all of them the government held strongest influence on the rolling stock-a sub railway system which is an official representative of the system, having trade responsibility and negotiates with suppliers(6).The JNR(Japanese National Railway) policy changed after the 1950s and the private sector started managing its policies with governmental assistance. The rolling stock trading process established the Japanese co-operation with West-European suppliers. Essential approaches like government’s guidance in applying industrial policy, adjustment in labour-management relations, tolerating entrepreneurial firms seen as innovators instead of the zaibatsu-structured equivalents, were taken (3).The mentioned events , concerning Japanese technology adjusting, show the strong relation between state policies and technology level . The state itself is the agent which drives all innovations by the power of its policies and regulations. It played a main role in the factory legislation. Women workers needed protection and they could only receive it by governmental intervention. A report by AAB(Agricultural Affairs Bureau) in 1900 confirmed the negative affect of night shifts onto labour efficiency and technical progress. By taking in consideration this example the state role can be considered as more than crucial. It maintains the economy growth by securing its population conditions (human rights; socio-cultural perspective).In this way it sustains the workforce of the country, which is a main element of stabilising competitive advantage. Despite the fact that most economic articles stress on the â€Å"Japanese Miracle†(1) as a significant period of technology updating and state-system adjustment, the pioneers in technology investment appeared in the Meiji period. These businessmen founded a significant process which contributed to the rapid economic growth after World War II. Japanese role in the Electro-chemical industry has massively influenced the power of Japanese Army. Scientifically educated employees contributed for a better business analysis and strategies. A continuous growth is achieved when a government is concerned both for its trading power and socio-educational system. If both elements are properly maintained a country is able to sustain its competitive status worldwide as its observed in the Japanese case of Toyota-one of the most successful car manufacturer’s. â€Å"The key to the Toyota Way and what makes Toyota stand out is not any of the individual elements†¦. But what is important is having all the elements together as a system. It must be practiced every day in a very consistent manner—not in spurts†(11) Toyota is a great example of brilliant cooperation between increasing labour efficiency and a djusting technology system. Toyota took some fruitful approaches from the Western European managerial model and kept its unique values from the Japanese culture. It is observed that the more an Asian industry is independent from the state the better it adapts to the global business environment. State policies founded initial basis of the most important Asian features that should be taken and not changed in the business-cycle of a company. Toyota managed to follow the roots of the Japanese â€Å"know how† and at the same time keeps attracting professionals from all over the world in order to sustain its competitive advantage. Furthermore as a modern massive share-holder in different sectors it transformed into customer-oriented company targeting more market segments and reassuring to keep the demand of current customers. This is just one of the many great Japanese examples of sustaining a global market share. It can be stated that the more globalisation expands the higher is the need of rapid adaptation m ethods. Strongly centralised firms should transfer into more de-centralised strategic schemes if they want to achieve bigger success on a international level. Korea: From historical perspective Korea was controversially affected by both US (United States-South Korea) and the USSR(Union of Souviet Socialist Rebubplics-North Korea)During the Rhy government period(7) Korea focused on two massive industrial sectors: consumer goods and construction. After the Korean War (1950-1953) they become leading suppliers in these niches. Collaboration between the’’chaebols’’-â€Å"a group of companies, owed by a specific family, has centralised control and business in different industries that are not directly interrelated†((10)Korean Managerial Dynamics p.29) and the state can be considered as a main reason for the rapid industrialisation in the 1960s.The earlier establishment of cartels( Flour Mill, Sugar and Spinning Manufacturers)and corrupted Japanese and American support contributed to the chaebol growth. Hyundai is the major Korean constructor, which used to sustain and still does the Korean economy. Between 1940s and 1970s the ‘’chaebol’’ transformed into a large-multidivisional private system which expanded its business sectors. In this way the new system created economies of scale under a centralised management strategy. The renovated state policies enhanced the labour force and implemented the export industrialisation strategy. In order to (2)The chaebol business structure created highly-controlled production in the 1970s by hiring managers which took the role of supervisors. In the 1980s the government prioritised the need of higher workforce independence. The state shaped the legal frame of Korea, while supporting the chaebol economic and interest policies.((2);p.3)After the KCTU(Korean Confederation of Trade Unions) was established a significant decrease in the chaebol monopolism was noticed. In 1974 a â€Å"concentration of economic power† emerged as a negative issue.(Korean Managerial Dynamics; Chung, Khae and Lee, Hak Chong p.16) The Ko rean bank was forced to take action due to its monopolistic strength: all private businesses provided information to the open capital market. All monopolistic and cartel structures were constricted from entering new markets. Expectedly or not the existing cartels sustained their barriers of entry. Despite the fact Korea was stimulating domestic manufacturing there was a lack of physical technology ability and it has no choice but looking for external â€Å"packaged technology†(Korean Business: Internal and External factors) –component parts, specialised details, product specifications, quality control and professional assistance. In 1980 this resulted in high-inflation rates. Four recovering movements were taken: better managing of market mechanisms and stabilising price levels (led to export of domestically manufactured technologies); transforming domestic monopolism to a free-competitive foreign markets (increasing of social welfare); encouraging foundation of small-medium businesses. It can be concluded that all state reforms derived from either political external or internal problems. The complicated internal reforms caused to a non-balanced upgrading processes. Korea needed a quick re-navigation and focus on catching up with Western Europe rivals. Good examples of chaebol companies are Samsung and Hyundai. Samsung (founded in 1938 (12))business group is the largest one in terms of annual sales-21 billion dollars in 1987 with 160,000 workers in 42 companies (10 p.29) It entered the insurance, security and enterprise sectors. Nowadays it possesses a major shares in electronics, chemical, construction, manufacturing, land development, service and technology markets. By a constant governmental navigation and assistance this great example of East-Asian conglomerate diversified its supply. While the state takes responsibility of providing well-educated and strong workforce the company itself is concerned of the trading process and constant technology upgrading. â€Å"When Samsung has difficulties in transferring technology, it relied on several different strategic avenues: seeking alternative sources of technology, buying it from financially troubled, small American firms; developing its own technology; or entering a consortium with other local competitors to develop technology†((15)â€Å"Korean Business: Internal and External Industrialisation†) By analysing this strategic approach an excellent decision-making skills are observed. The alternative of â€Å"buying† from American small firms shows that the Korean leader constantly generates cash flow in order to afford such activities in a critical moment. Even â€Å"consortium† schemes were made which shows the great adaptation to the market condition and to all supplying competitors. By competing in different markets and upgrading its business structure Samsung enhances Korean economic stability and competitiveness on international level. A leading competitive ad vantage of Samsung is the brilliant combination of price and quality. The possession of well-educated managers and continuously upgraded technology provides a great reputation of top gadget- producer. Taiwan: The favourable geographic location of the country between the Far-East and Southeast Asia made it a desirable trading place between Western Europe and Asia. Different rivals colonised it as well. Taiwan started its technological developmental in a later stage comparing to its bigger neighbours Japan and Korea. After the 1990s Taiwan became one of the leading ICT(Information and technology communications)suppliers(16)Its well-maintained Research and Development sector and patented technology are fair reasons of the current success. Chinese neoliberalism: A slower economic growth in China is observed comparing to the Japanese and Korean one. A high negative influence of the conserved socio-cultural environment is a main reason. The CFB(Chinese Family Business) internal managerial system has a closed-family ideology. There was a conflict between Chinese conservatism and Chinese world-economy adaptation. Its governmentally centralised system suffered lack of managerial professionalism. This introvert attitude of CFB to business created an obstacle for further technologic improvement because establishing new operational system needs well-educated navigators familiarised with the technology. Furthermore loosing the market trading processes of import and export was irreversible. Modernisation schemes were taken: increase of international trades and foundation of FDI(Foreign Direct Investment- investing in country A, by taking advantage of its geographical and labour conditions and controlling from country B which owns all assets and benefit the bigger prt of the incentive) , which was quite beneficial strategy both for China and Japan. It was necessary to minimise the cultural interference and radically involve western techniques. By focusing onto micro-level variables as behaviour China kept losing its macro level of structural and technological competitiveness. The strong communism affected negatively on both industrialisation and technology adjustment. Recent technology-transfer Laws in the Asia Pacific: Setting up Transfer Laws has essential role in the whole Asia-Pacific trade legitimacy. They also determine the significance of technologies and how they are used in a more effective way. In China a warmer attitude to foreign companies is observed. Its entry into the WTO(World Trade Organisation) encouraged cross-continental transfers. In 1999 China accepted the UCL(Unified Contract Law) which gave more freedom by license agreement which can be signed between partners and fasten all transfers. In 2003 The Ministry of Commerce was founded as well as new three-type technology categorisation: prohibited, restricted or permitted. The foundation of such institutions was a necessity in order to exclude all wasting money and time processes, which is both beneficial for suppliers and buyers. The determinant of accepting import transfer is whether it will enhance China’s technological improvement. Furthermore it should not be an environmental and security constraint. Equivalent technology licences(legal and contractual) were formed in Japan. In April 2004 the National University Corporation Law was accepted, providing bigger educational independence which enhances the social welfare and gives more opportunities to young individuals specialise their skills into different sectors. Historically observed, South-Korea always had strictly controlled technology-licensing system in order to preserve newly-founded firms from their out-boundaries rivals and ensures continuous development. Co-operation between education and management led the Asian Pacific to a top place in the technology world. The laws approved in the end of 20th century were turned into a new transfer law in the 21st century. The FIPA(Foreign Investment Promotion Act) is in charge of all foreign investment s. It is an autonomous institution which has the power to simplify and navigate all import activities for the sake of higher country incentive. Its strategy is to attract investment and sustain competitive international advantage. The Monopoly Regulation and FTA(Fair Trade act )(Hill,2006)(19) Conclusion: While the Asia Pacific was struggling to escape out of its cultural constraints and its isolated business system during the first half of the 20th century, it appeared that it adapted rapidly through the second half of the century. It went under serious governmental and structural transforms. It seems that the Asian recovery period after the Second World War was far away more intensive and successful comparing to some European countries. From 1990 to 1997 Asia generated over one-third of the global value-added production by high-technology production industries, higher to the the European and US shares.(13) Investments in the Research and Development sector are significant for successf ul technology adjustment. The establishment of new universities and modifying their educational systems provide scientists and intelligent individuals who can operate and cope with the technology process. The importance of conserving culture-oriented models is of the same sensuality as expanding growth on international level. The Asian ambition of establishing leadership in important world industries contributed to its success. Although there were huge periods of struggling adapting new managerial work-plans the â€Å"tiger economies† managed to survive during tough war and reform periods. Even not really friendly-orientated of cooperating between each other Asian economy survived because of the common adaptation strength and control of markets. The connection between the state and business was not simply one of interference or direction by the state of the market. â€Å"It was rather a positive partnership involving many connections between entities† (Johnson,1997)A geographical advantage of more isolated location in the world enhanced the Asian state independence and its technology orientation. Obviously the bigger sized Asian economies like China and Japan overtook cultural and religion influence.They started their recovering processes more rapidly comparing to the late-comer economies of Korea, Taiwan and Malaysia.(Warner,2007) Bibliography: 1. Maidement, R., Mackerras C., (1998) Culture and Society In The Asia-Pacific, United Kingdom: Routledge 2. Rowley, C., Bae, J., (1998) Korean Business Internal and External Industrialization, Chippenham: Antony Rowe Ltd. 3. Yui, T., Nakagawa, (1989) Japanese Management in Historical Perspective, Japan: University of Tokyo Press 4. Kwon, S., O’Donnell, M., (2001) The Chaebol and Labour in Korea The development of managmenet strategy in Hyundai, Oxon: Routledge 5. Rowley, C., Warner, M., (2009) Management in South-East Asia Business Culture, Enterprises and Human Resources, Oxfordshire: Routledge 6. Chung, K., Lee H., (1989) Korean Managerial Dynamics, New York: Praeger 7. The Japanese Miracle, http://www.japanese123.com/japanesemiracle.htm Date accessed 2/12/2012 8. Borisova, N., (2011) The market, the state, and the culture in economic development in Asia, http://nataliaborisova.hubpages.com/hub/market-state-culture-asia Date accessed 2/12/2012 9. (2004)Four The Rise of the Regions: Fiscal Reform and the Decline of Central State Capacity i n China 10. http://publishing.cdlib.org/ucpressebooks/view?docId=ft5g50071k&chunk.id=d0e3492&toc.depth=100&brand=ucpress Date accessed 2/12/2012 11. Wu Y., (2004) The China Quarty, Volume 177, pp 91-114 12. Samsung History, http://www.samsung-mobiles.net/history-of-samsung.html Date accessed 3/12/2012 13. Taiwan’s Technology Industry Marks Global Success http://www.forbescustom.com/DiversityPgs/UnityFirst/3_4_09/UFNAACPTaiwanTechP1.html Date accessed 4/12/2012 http://www.pom.ir/wp-content/uploads/PDF/book/The%20Toyota%20Way.pdf 14. http://www.nsf.gov/statistics/nsf07319/pdf/nsf07319.pdf 15. http://www.jrtr.net/jrtr41/pdf/f14_miz.pdf 16. http://www.economist.com/node/13649520 17. 10) 18. Hill, D., 2006, â€Å"Developments in Asia†,The Licensing Journal

Benefiting from Learning About the Flaws of People

Benefiting from learning about the flaws of people they respect or admire. Usually it just so happen that we people are young they tend to have a lot of heroes, or someone they respect or admire. They soon learn when they grow up that these people they have admired for so long have flaws just like anyone else. Leaving them feeling disappointed or upset, but what they don’t know is that learning about these flaws can be beneficial to them. People benefit from learning about the flaws of people they respect or admire. What they soon learn is that people make mistakes, no one is perfect.Including those they may look up to the most, for example their parents. Their parents are the ones who teach them right from wrong, and so the kids may expect their parents to go by this as well. Most of the times the kids are disappointed to find out their parents aren’t perfect either. After that, they either chose to make the same mistake or chose to learn from it. â€Å"Monkey see, mo nkey do. † It can even be beneficial coming from someone they don’t even know. It could be someone who sang their favorite song, or stared on their favorite TV show. For a kid to have a celebrity as an idol is very common.Celebrities are people just like us so they are going to make mistakes; it is how they deal with the problem that’s beneficial. But because they are famous, everyone can see their mistake. People can also benefit to one’s peers. Watching someone they love or admire, make a mistake than learn from it, is extremely beneficial. They can accept that person for who they are and become more mature. It is very important that we learn at a young age that no one is perfect, and they can’t always set high expectations for everyone. Especially if they set the expectations for someone they have known all their life.Everyone’s has flaws and they should be expected. â€Å"There are no mistakes, no coincidences. All events are blessings g iven to us to learn from. † It is not always good to have an admirer that makes mistake and they follow but don’t ever learn from. It important to, grasps it, learn from it, and consider it a blessing. Don’t be disappointed if their hero wakes up one morning and brushes his teeth with ice hot instead of tooth paste. Instead, always look up to what they admire about them, and try to relate to it. Work cited page: http://www. inspirationalspark. com/making-mistakes-quotes. html http://en. wikipedia. org/wiki/Monkey_see,_monkey_do

The Law of Conservation of Energy Defined

The Law of Conservation of Energy Defined The law of conservation of energy is a physical law that states energy cannot be created or destroyed but may be changed from one form to another. Another way of stating this law of chemistry is to say the total energy of an isolated system remains constant or is conserved within a given frame of reference. In classical mechanics, conservation of mass and conversation of energy are considered to be two separate laws. However, in special relativity, matter may be converted into energy and vice versa, according to the famous equation E mc2. Thus, its more appropriate to say mass-energy is conserved. Example of Conservation of Energy If a stick of dynamite explodes, for example, the chemical energy contained within the dynamite changes into kinetic energy, heat, and light. If all this energy is added together, it will equal the starting chemical energy value. Consequence of Conservation of Energy One interesting consequence of the law of conservation of energy is that it means perpetual motion machines of the first kind are not possible. In other words, a system must have an external power supply to continuously deliver unlimited energy to its surroundings. Its also worth noting that its not always possible to define conservation of energy because not all systems have time translation symmetry. For example, conservation of energy may not be defined for time crystals or for curved space times.

Free Essays on Myths Of Ancient Times

MYTH’S OF ANCIENT TIMES Greek myths are entertaining and meaningful, fictional and truthful. They tell stories of Gods, Goddess’s, children and animals. But most of all they teach a lesson. What was the point of Greek myths? What were some of the stories? Were they taken seriously? Why were they important? This paper will explain what Greek myths are all about. It will say why Greek myths were created, and what they mean. It will also give an example of a popular myth. â€Å"A myth is a religion in which no one any longer believes.† (James Feibleman) Although Greek myths are interesting and entertaining stories, they played a more important roll in the every day life of ancient civilization. â€Å"Greek Gods were simply the products of colorful imaginations.† (www.angelfire.com/mt/ahsb/intro.html) They were the imaginations of a civilization that told these stories as a way of explaining the unexplainable events that happened in their lives. These â€Å"unexplainable† things consisted of uncontrollable events, natural phenomenons and mind-boggling occurrences. The realization of these stories lead one to believe that they were â€Å"perfect humans†, but can benefit from being immortal as well. The Greeks gave them all the abilities, qualities and values that they themselves wanted. Once they did this, the Greeks idolized the existence of the Gods and they way they behaved. The Greeks felt that these Gods and Goddesses had complete control and influence over their lives. â€Å"The poets were not alone in sanctioning myths, for long before the poets the states and the lawmakers had sanctioned them as a useful expedient. They needed to control the people by superstitious fears, and these cannot be aroused without myths and marvels.† (Mikhail Strabo) The Greeks were the first people to write myths. These myths were like parables; there was usually a â€Å"moral to the story†. There were heroes and Gods in these stories and as they... Free Essays on Myths Of Ancient Times Free Essays on Myths Of Ancient Times MYTH’S OF ANCIENT TIMES Greek myths are entertaining and meaningful, fictional and truthful. They tell stories of Gods, Goddess’s, children and animals. But most of all they teach a lesson. What was the point of Greek myths? What were some of the stories? Were they taken seriously? Why were they important? This paper will explain what Greek myths are all about. It will say why Greek myths were created, and what they mean. It will also give an example of a popular myth. â€Å"A myth is a religion in which no one any longer believes.† (James Feibleman) Although Greek myths are interesting and entertaining stories, they played a more important roll in the every day life of ancient civilization. â€Å"Greek Gods were simply the products of colorful imaginations.† (www.angelfire.com/mt/ahsb/intro.html) They were the imaginations of a civilization that told these stories as a way of explaining the unexplainable events that happened in their lives. These â€Å"unexplainable† things consisted of uncontrollable events, natural phenomenons and mind-boggling occurrences. The realization of these stories lead one to believe that they were â€Å"perfect humans†, but can benefit from being immortal as well. The Greeks gave them all the abilities, qualities and values that they themselves wanted. Once they did this, the Greeks idolized the existence of the Gods and they way they behaved. The Greeks felt that these Gods and Goddesses had complete control and influence over their lives. â€Å"The poets were not alone in sanctioning myths, for long before the poets the states and the lawmakers had sanctioned them as a useful expedient. They needed to control the people by superstitious fears, and these cannot be aroused without myths and marvels.† (Mikhail Strabo) The Greeks were the first people to write myths. These myths were like parables; there was usually a â€Å"moral to the story†. There were heroes and Gods in these stories and as they...

English Skills for Information Technology

English Skills for Information Technology Computer specialists develop and maintain the computer equipment and software programs that form the basis of the Internet. They make up the majority of professional and related occupations and account for about 34 percent of the industry as a whole. Computer programmers write, test, and customize the detailed instructions, called programs or software, that computers follow to perform various functions such as connecting to the Internet or displaying a Web page. Using programming languages such as C or Java, they break down tasks into a logical series of simple commands for the computer to implement. Computer software engineers analyze user needs to formulate software specifications, and then design, develop, test, and evaluate programs to meet these requirements. While computer software engineers must possess strong programming skills, they generally focus on developing programs, which are then coded by computer programmers. Computer systems analysts develop customized computer systems and networks for clients. They work with organizations to solve problems by designing or tailoring systems to meet unique requirements and then implementing these systems. By customizing systems to specific tasks, they help their clients maximize the benefit from investment in hardware, software, and other resources. Computer support specialists provide technical assistance to users who experience computer problems. They may provide support either to customers or to other employees within their own organization. Using automated diagnostic programs and their own technical knowledge, they analyze and solve problems with hardware, software, and systems. In this industry, they connect with users primarily through telephone calls and e-mail messages. Essential English for Information Technology List of the Top 200 Information Technology Vocabulary Speak about development needs using modals Examples: Our portal needs an SQL backend.The landing page should include blog posts and an RSS feed.Users can access use the tag cloud to find content. Speak about probable causes There must have been a bug in the software.We cant have used that platform.They might test our product if we ask. Speak about hypotheses (if / then) Examples: If the zipcode textbox is required for registration, users outside the US wont be able to join.If we used C to code this project, we would have to hire some developers.Our UI would have been much more simple if we had used Ajax. Speak about quantities Examples: There a lot of bugs in this code.How much time will it take to ramp up this project?Our client has a few comments about our mockup. Distinguish between countable and uncountable nouns Examples: Information (uncountable)Silicon (uncountable)Chips (countable) Write / give instructions Examples: Click on file - open and choose your file.Insert your user ID and password.Create your user profile. Write business (letters) e-mails to clients Examples: Writing reports Explain past causes for current situations Examples: The software had been installed incorrectly, so we reinstalled in order to proceed.We were developing the code base when we were put on the new project.The legacy software had been in place for five years before the new solution was designed. Ask questions Examples: Which error message do you see?How often do you need to reboot?Which software were you using when the computer screen froze? Make suggestions Examples: What dont you install a new driver?Lets create a wireframe before we go any further.How about creating a custom table for that task? Information Technology Related Dialogues and Reading Social Networking Sites Information technology job description provided by the Bureau of Labor Statistics.

Bowulf Essay Example | Topics and Well Written Essays - 500 words

Bowulf - Essay Example To begin with, Hrothgar and Beowulf demonstrate the same level of devotion to the old heroic code of the Germanic tribes. This code placed a lot of value on things like strength and loyalty in warriors, hospitality and political skill in leaders, the presentable nature of women and the good reputation of the people everyone associates with. In describing how he worked to save Beowulf’s father’s good name, Hrothgar tells Beowulf â€Å"Great was the feud that your father set off when his hand struck down Heatholaf in death among the Wylfings. †¦ I then settled the feud with fitting payment, sent to the Wylfings over the water’s back old things of beauty; against which I’d the oath of your father† (459-61; 470-72). In this, Hrothgar is recounting how the two families are connected in honor, allowing him to accept the help of Beowulf without losing any of his current power even though he is no longer physically strong enough himself to rid his king dom of the ogre Grendel. In addition, Hrothgar is aware of the dangers of power that Beowulf is likely to encounter during his lifetime and seeks to warn him of them, indicating a distinct difference between the moral conscience between the civilized culture and that of the barbarian culture that doesn’t recognize such issues. This reflective attitude is mostly seen in his speech to Beowulf just before the Geats depart from Heorot. Here, he warns Beowulf against the sins of pride and greed as they will creep into his heart whether he will or no as he gains power and position among the tribes. â€Å"Beloved Beowulf, best of warriors, resist this deadly taint, take what is better, your lasting profit. Put away arrogance, noble fighter! The noon of your strength shall last for a while now, but in a little time, sickness or a sword shall swipe it from you† (1758-63). This mostly Christian view in a Pagan culture gives medieval man a clue as to

Enterprise and business development Essay Example | Topics and Well Written Essays - 500 words

Enterprise and business development - Essay Example Firestarter considers the supplier dynamics and aims at positioning itself in a position of relative advantage in a bid to maintain or increase its customer base. Supplier will become powerful if they are few and there is a heavy need for them to facilitate the main processes (Porter, 2008). The buyer power is a consideration that the competitive players in the food industry consider. The buyers have the ability to drive the prices down thus influencing the ability of firms such as Firestarter to dictate pricing terms. The number of buyers in the specific market ventured by Firestarter and other listed competitors, the switching cost of a buyer and importance of that buyer to the enterprise influence the model of strategic planning on pricing so as to keep at bay with the competition. Firestarter may be able to dictate prices if the cost of switching to the other suppliers is high and the presence of few powerful buyers. The capabilities of the competitors in this context, KFC, Costa, Dunkin Donuts, Starbucks and Muzz Buzz form a competition rivalry. It is through differentiation of products and services more than the other that one individual farm can achieve an advantage. For the case of Firestarter, offering a variety of products that are differentiated at better prices will make it have an edge over the competitors in the niche by achieving market attractiveness to the consumers in the U.K. Entering a new market poses threat especially in the event of high costs and time in entering the market (Porter, 2008). To be protected against compromising of a favorable competitive position, enterprises such as Firestarter ought to have economies of scale in the market and have protection of their innovations in products and services. This is a key consideration to be employed by Firestarter to protect itself from new entrants such as Muzz Buzz. Maintaining of durable and solid barriers to entry such as a strong and loyal base of consumers,

Health Care systems in Rural India Case Study Example | Topics and Well Written Essays - 1750 words

Health Care systems in Rural India - Case Study Example These Adivasis live in small groups and are mostly on the move, always searching for their livelihood. In this essay I have chosen these people living near the village afore mentioned as a back drop for the essay. These people ear their livelihood by collecting tamarind, mangoes and wood from the forest and sells them in the nearby villages. The women of the community produce hand made crafts and art forms which did not recognition so far (Pushpa Chari: "Voices of the margins", 2009). Many of their children do not go to schools even today and therefore cannot read and write. From several generations these tribes remained secluded often unwanted. They speak in a native language called as "Gondu" (C.Sudhakar Reddy et al, 2008), which the urban population cannot comprehend easily. Healthcare remains an unknown concept to them as both the Men and women of all ages in this tribe chews tobacco or related products, and drink locally made liquor, which is mostly unpurified spirit. The women cook their meals on open fire from wood collected from the forests. Despite the fact that Indian economy is improving at a tremendous rate some parts of this world still lurks in dark regions. These tribal people are still striving for an identity of their own. Communication with these people for the external world is a tough proposition. Because they are always on the move communication of any sort will be very difficult as also is identifying their location. Nomadic culture still prevails in them and is a big constraint in communicating with them. Environmental factors: Environmental factors such as inter group rivalries over women, food and money are resulting as big limiting factors towards communication. These rivalries are a result of their lack of understanding and a poor example of their social behavior Psychosocial factors: Their inability to communicate with outside public except in their native "gondu" is a big limiting factor. Their inability to mix with the common public is restricting their learning opportunity. In fact they are unable to identify their health care needs, social needs, education needs etc due to the above stated psychosocial factors. Their beliefs towards health practices and its impact on their communities These adivasis believe that when people in their families falls sick they prey and make offerings to Neem trees and Banyan trees, according to them these trees are like replicas of goddesses and shower them with their blessings and offer them health. Also in case they need a medicine they will approach witches and other small time practitioners of medicine. Often they lose their lives because these medical practitioner's weird practices. It is indeed hard to believe even to day around 70% of the people of these communities do not have access towards primary healthcare. As a result infant mortality and deaths of pregnant women are common. Barriers influencing health schemes from reaching these communities: Because these people are moving from place to place from time to time, governments and officials are failing to recognize their health care

Studying a Professional Organizational Coursework

Studying a Professional Organizational - Coursework Example of nearly 10,000 surgical nurses that are interest in developing professionally and personally, linking up with other individuals and organizations in the health sector that share a common vision, fighting for the recognition of the surgical nursing field (Roberts, 2008). The aims and objectives of the Academy of Medical Surgical Nurses focus on research development, evidence based practice, advocacy in the workplace, organizational health and the impact of national leadership on health matters. The organization’s mission is to facilitate excellence in the field of surgical nursing. The organization also focuses towards using its strategic position to improve health care for the patients (Roberts, 2008). The organization provides a system through which surgical nurses can express their feelings and opinions about health care policies. The organization also promoted personal and professional goals for surgical nurses. The entity has come up with a system that promotes awareness to the members of society on issues that relate to the practice (Mason and Nursing, a. t., 2011). Above all, the organizations aims at improving the general health care for all patients in the society. Finally, the entity maintains effective communication to governmental organizations, professional groups and acts as resources to the public. The organization achieves the above-mentioned functions by meeting the ideas in professional nursing. This is through the promotion of health care to individuals by promoting the art and science of nursing care. The organization facilitates implementation of the policies for practice of surgical nursing. The Academy of Medical Surgical Nursing establishes a framework in which nurses in the field to communicate their health care policies (Mason and Nursing, a. t., 2011). AMSN works towards impacting on policies in health care based on evidence based on various issues. The entity facilitates advancement of research and development in the field and this

Tort law Essay Example | Topics and Well Written Essays - 1500 words

Tort law - Essay Example Basically, a tort law can be described as a civil wrong not arising from a contract and in the case of negligence, one should owe due consideration to one’s neighbour (Capiro Industries vs. Dickman 1990). It generally refers to the duty of care owed by somebody to his or her neighbour. Cooke (2010) suggests that in the event that it can be proved beyond any reasonable doubt by the court that the plaintiff has suffered a civil injustice, a claim can be raised and a remedy in the form of compensation can be instituted. On the other hand, negligence can be described as a civil wrong arising from the act of negligence by doing something a reasonable man would not do and a plaintiff must prove that the defendant owes a duty of care (Donoghue V. Stevenson 1932). It is of paramount importance for the plaintiff to be able to prove that the defendant had duty to take care of and that duty of care has been breached in order to win the claim. In order to prove the existence of day care d uty, some conditions should prevail where a defendant can be taken to task if this duty is breached. Under the case of Capiro Industries vs. ... In the above case of Ultramares Corporation v Touche (1931) 255 NY 170), the facts are: Justice Cardozo created a special rule with regards to accountants and auditors. He suggested that mass liability should not exist but that only the client and the intended third party could hold an accountant liable for the accountant's negligence (Wegman 2007). Thus the court must be careful especially when it comes to establish negligence in the case involving an unmarked amount of money for an unfixed time with regards to an indefinite third part. An accountant can facilitate a loan transaction between a financial institution and a third party and in this case, only the financial institution and the third party can hold the accountant liable in the event of losses as a result of negligence. In this case, negligence is a common form of tort law which can be punishable if carelessness is proved and the victim will be entitled to get compensation. Failure to protect others from harm as a result o f somebody’s conduct is known as negligence whereby a duty care will have been ignored. From the above explanation of tort, it is clear that the accountant in this particular case has a duty care to make sure that their actions do result in financial losses to the client or the other third party which can be the plaintiff. With regards to this normal test, it does not always follow that duty care is owed by the third party which may result in loss of something which requires the plaintiff to prove that the resultant loss has been a result of the action of the accountant. In the case of Paris v Stepney Borough Council (1951) the editor of Salmond on the Law

Studying a Professional Organizational Coursework

Studying a Professional Organizational - Coursework Example of nearly 10,000 surgical nurses that are interest in developing professionally and personally, linking up with other individuals and organizations in the health sector that share a common vision, fighting for the recognition of the surgical nursing field (Roberts, 2008). The aims and objectives of the Academy of Medical Surgical Nurses focus on research development, evidence based practice, advocacy in the workplace, organizational health and the impact of national leadership on health matters. The organization’s mission is to facilitate excellence in the field of surgical nursing. The organization also focuses towards using its strategic position to improve health care for the patients (Roberts, 2008). The organization provides a system through which surgical nurses can express their feelings and opinions about health care policies. The organization also promoted personal and professional goals for surgical nurses. The entity has come up with a system that promotes awareness to the members of society on issues that relate to the practice (Mason and Nursing, a. t., 2011). Above all, the organizations aims at improving the general health care for all patients in the society. Finally, the entity maintains effective communication to governmental organizations, professional groups and acts as resources to the public. The organization achieves the above-mentioned functions by meeting the ideas in professional nursing. This is through the promotion of health care to individuals by promoting the art and science of nursing care. The organization facilitates implementation of the policies for practice of surgical nursing. The Academy of Medical Surgical Nursing establishes a framework in which nurses in the field to communicate their health care policies (Mason and Nursing, a. t., 2011). AMSN works towards impacting on policies in health care based on evidence based on various issues. The entity facilitates advancement of research and development in the field and this

Team Work Research Paper Example | Topics and Well Written Essays - 2000 words

Team Work - Research Paper Example Most of the businesses prefer teamwork skills among an individual while evaluating him/her for the employment purpose. All companies realize that teamwork is highly essential as either the products to be manufactured are very complex and require teamwork efforts for the production purpose or a good product will be manufactured when a teamwork approach would be adapted for the entire manufacturing process. Thus, it becomes important to perform as a team while working in an organization. In teamwork, the members perform their function to meet the personal as well as the group objectives and goals. The members working in a group feel a sense of authorization and ownership while performing their functions within a group, as these members are committed towards the common goals and objectives that have been set by the group. The team members collaborate with each other and use their experiences and talents in an effective manner to improve the overall performance of the entire group. These members have the foundation of their success built on the trust towards the other members in the team where all the members in the team are encouraged to express their views, opinions, queries freely. The most advantageous part in a team work is that all the members have equal opportunity to participate in the decision making process within the organization, Moreover, there remains a level of understanding among all the members where they realize that the ultimate decision should be taken by the leader if the team as a whole cannot reach to any consensus agreement. Characteristics or features of an effective team 1. The team should have transparent goal The team goals must possess a specific performance objective, which would be expressed in a concise manner, so that it is clear to every member when the objective have been met. 2. The team should have result driven structure The team must operate and perform its functions in such manner that it produces results for the organization . If a team is allowed to develop the structure, then it provides best results. 3. The team should possess competent team members The team members chosen for participating in the group must have the potentiality of being competent enough. The members must have the ability to tackle with the level of knowledge. 4. The team should always have unified commitment All the team members must direct their efforts and to a common goal, where the individual efforts would have the ability to meet the unified commitment. The prime advantage of teamwork is the ability to combine the talents and skills. A team gets advantageous from a broad array of talent and skills, which is not possible to be possessed by an individual employee. Collaboration and leadership play important role in increasing the efficiency of the team work. It is the responsibility of a good leader to handle the team with such efficacy that it increases the performance of the entire team. At the same time, collaboration between the team members is necessary in order to improve the overall team work. The next part of the project would discuss about the importance of collaboration and leadership in teamwork. Team work and Collaboration Collaboration is one of the most important components of any team. It does not matter whether the team is big or small but collaboration is necessary in every

To the Lighthouse Essay Example for Free

To the Lighthouse Essay Style for the writer as well as for the painter is a question not of technique, but of vision, says French writer Marcel Proust in his book Le Temps Retrouve. Proust belongs to the league of early 20th century writers who rebelled against the structures of Classicism on prose by employing revolutionary styles in the narrative. Critics of Virginia Woolf trace her influence to Proust, among other figures who share her distinct conception of reality and experience albeit the fact that there was no direct correspondence between the two writers. Virginia Woolf is a very individualistic and visionary writer (Friedman, 1955). The apparent similarity between her theory of reality and experience and that of the popular claims of some of her contemporaries can only be accounted for by the fact that Woolf draws much from the zeitgeist. The idea of stream of consciousness, for instance, is not unique to her as Bergson, who authored ‘durational flux’, proposes the same idea that time is a continuous flux which is the theoretical basis for stream of consciousness (Friedman, 1955). Nonetheless, her work remained distinctly hers specifically in terms of her style. It is because for Woolf the creation and fulfillment of a vision rather than a practice of technique matters most. Her bearing as a writer naturally followed her vision, her philosophy on life, reality and truth. In her body of work, she demonstrated what Proust claims to be the fountainhead of style. A very critical essayist, Woolf was very vocal about her vision. In her essay, Modern Fiction, published in 1925, she voices out her opinion on the issue of spiritualism versus materialism by critiquing her contemporary English authors H. G. Wells, Arnold Bennett and John Galsworthy. She coined the label ‘Materialists’ from their apparent lack of vision, their concern for trivial, temporal things, which to her escapes Life. She regarded their craft with respect but it was the objective to which their efforts were directed that she strongly opposed. She emphasizes the capturing of the spirit (or, as she put it, â€Å"life or truth or reality, whatever we call it†) to be the essence of art. The absence thereof incites the question whether that piece of literature is worthwhile and enduring. Woolf believes the preoccupation with trivialities is a manifest submission to the tyranny of the classics, the tradition and the canon. This would mean stagnation and death. Woolf puts it better when she writes: â€Å"Movement and change are the essence of our being. Rigidity is death, conformity is death† (Woolf, â€Å"The Common Reader†). Described as essentially a â€Å"lyrical novel†, To the Lighthouse reflects the totality of Woolf’s vision of capturing the evanescence of life into prose (Mayoux 214). Critics of the novel refer to its non-prose qualities, i. e. its deviation from the conventions of unity of time, characterization and linear plot development, to describe novel which has a very thin plot. Williams (204) writes that the novel is more akin to poetry than prose because it attempts to ‘[make] the moment something permanent. † According to him, this is a province of poets, musicians and painters and not of novelists (Williams 204). Interestingly, one of the characters in the novel, Lily Briscoe, is an actual painter and her character gives insight into the workings of the novel. The external plot of the novel is unusually thin for its length. Bennett aptly constructs the summary: â€Å"a group of people plan to sail in a small boat to a lighthouse. At the end some of them reach the lighthouse in a small boat†(200). The novel is divided in three chapters. The first chapter, The Window, begins in summer at a vacation house by the sea, owned by Mr. and Mrs.Ramsay. On that occasion, their family along with a few friends gathered in the house for a party prepared by Mrs. Ramsay. Mrs. Ramsay’s son insists on going to the lighthouse, but Mr. Ramsay disappoints him by announcing that the weather would not permit them. The rest of chapter describes the dinner interspersed with the thoughts of each character. The second chapter, Time Passes, is a description of the house and the memory imprinted in it after the characters introduced in the first chapter went their separate ways. The chapter is devoid of character action except for the incidental visitation of the house cleaners. In the second chapter, Mrs. Ramsay’s death is announced. The third chapter, The Lighthouse, happens years after the first chapter. Mr. Ramsay, together with his children and two of their guests, including Lily Briscoe, revisits the summer house. Lily contemplates the completion of her painting as Mr. Ramsay leads his children on a boat ride to the lighthouse. The novel ends as Lily completes her work.

The importance to auditing of concept of audit risks

The importance to auditing of concept of audit risks Messie, Glover, Prawitt Boh, Margaret , 2007 stated that audit risk is the risk that the auditor expresses an inappropriate audit opinion when the financial statements are materially misstated. In simple terms, audit risk is the risk that an auditor will issue an unqualified opinion when the financial statements contain material misstatement. ISA 200 states that auditor should plan and perform the audit to reduce audit risk to an acceptably low level that is consistent with the objective of an audit. (Auditing and Assurance Standard) AAS-6(Revised), Risk Assessments and Internal Controls, identifies the three components of audit risk i.e. inherent risk, control risk and detection risk. Audit risk model: AR = IR x CR x DR. Where, AR= Audit risk (the risk that the auditor may unknowingly fail to appropriately modify his or her opinion on financial statements that are materially misstated) IR = Inherent risk (the risk that an assertion is susceptible to a material misstatement, assuming there are no related controls) CR = Control risk (the risk that a material misstatement that could occur in an assertion will not be prevented or detected on a timely basis by the entitys internal control) DR = Detection risk (the risk that the auditor will not detect a material misstatement that exists in an assertion) The objective in an audit is to limit audit risk to a low level, as judged by the auditor. When conducting an audit, the auditor should consider materiality and its relationship with audit risk. The level of detection risk can be considered only after considering the level of inherent and control risks. While planning an audit, the auditor should keep in mind that the audit risk is to be kept at an acceptably low level. The range, efficiency, efficacy, nature and timing of the procedures performed by the auditor will determine the level (i.e. high or low) of detection risk The major purpose of audit risk models is to help the auditor to obtain a given degree of confidence that the financial statements do not contain a material error. Economic considerations are not explicitly taken into account, and the focus is rather on effective audit risk control. In the second approach, audit decision models are more comprehensive in nature as compared to audit risk models: a broader set of factors are taken into account (such as, audit risk, audit costs, etc.). This type of model may serve as an aid for auditors to identify an efficient and cost effective way by which a suitable level (i.e., cost minimizing) of confidence can be achieved. Audit risk is fundamental to the audit process because auditors cannot and do not attempt to check all transactions. It would be impossible to check all of transactions, and no one would be prepared to pay for the auditors to do so, hence the importances of the riskà ¢Ã¢â€š ¬Ã¢â‚¬Ëœbased approach toward auditing. Traditionally, auditors have used a risk-based approach in order to minimize the chance of giving an inappropriate audit opinion, and audits conducted in accordance with ISAs must follow the risk based approach, which should also help to ensure that audit work is carried out efficiently, using the most effective tests based on the audit risk assessment. Auditors should direct audit work to the key risks (sometimes also described as significant risks), where it is more likely that error in transactions and balances will lead to a material misstatement in the financial statements. It would be inefficient to address insignificant risks in a high level of detail, and whether a risk is classified as a key risk or not is a matter of judgment for the auditor. Generally Accepted Auditing Standards (GAAS) establish a model for carrying out audits that requires auditors to use their judgment in assessing risks and then in deciding what procedures to carry out. This model often is referred to as the audit risk model. The model allows auditors to take a variety of circumstances into account in selecting an audit approach. For example, the model calls for auditors to have an understanding of the clients business and industry, the systems employed to process transactions, the quality of personnel involved in accounting functions, the clients policies and procedures related to the preparation of financial statements, and much more. The model requires auditors to gain an understanding of a companys internal control, and to test the effectiveness of controls if the auditor intends to rely on them when considering the nature, timing and extent of the substantive tests to be carried out. For example, if controls over sales and accounts receivable are strong, the auditor might send a limited number of accounts receivable confirmation requests at an interim date and rely on the controls and certain other tests for updating the accounts to year end. Conversely, if controls are not strong, the auditor might send a larger number of accounts receivable confirmations at year end. The model requires an assessment of the risk of fraud (intentional misstatements of financial statements) in every audit. Based on the auditors assessment of various risks and any tests of controls, the auditor makes judgments about the kinds of evidence (from sources that are internal or external to the clients organization) needed to achieve reasonable assurance. On the one hand, GAAS set forth numerous requirements or matters that auditors should consider; on the other hand, the need to exercise audit judgment is embedded throughout GAAS. Handbook Section 5130, Materiality and Audit Risk in Conducting an Audit. Approved recently by the CICAs Auditing Standard Committee (AuSC), explains the meaning of the terms material misstatement and audit risk and looks at the objective of an audit. In short, while any decision involving materiality, audit risk and the extent of testing will ultimately come down to a question of professional judgments, it is hoped Section 5130, by providing some tools to assist with those judgments, will helps improve audit quality and reduce the potential for under over auditing. Walker, Robert (Mar 1990) answer question why spend time to asses audit risk? The real reason reliance on the internal control is less efficient than reliance

Aristotles Perspective of Friendship in Homers Iliad Essay -- Philos

An Aristotelian Examination of Friendship in Homer's Iliad It is strange to label any friendship a success or a failure; it is stranger still to call the friendship between Achilleus and Patroklos a failure, especially when it has long been celebrated as one of the greatest friendships in antiquity. After all, friendship is called a success when friends remain just that, and a failure when they part ways with diffidence. How else could we possibly judge friendship? I suggest, however, that the good of the friend is the end of true friendship, and that this principle can guide critical inquiry into the nature of friendship. The basis of this statement is Aristotelian. The Nicomachean Ethics defines true friendship as the mutual appreciation of the intrinsic good in the other, and the desire to will the other’s good. The critique of true friendship, in Aristotelian terms, should consider not only whether the parties loved each other for their intrinsic good, but also the extent to which they were successful at promoting the good of the other. The tragedy of Achilleus and Patroklos is that, despite their love and desire to promote the good of the other, they may have ultimately failed. Their friendship may have failed not because of a lack of good will or capability, but because of the conflicting obligations placed upon that friendship by society, circumstance, and the unyielding character of Achilleus. For Aristotle, the perfect form of friendship "is that between good men who are alike in excellence or virtue" (Ethics 8.219).1 Indeed, both Achilleus and Patroklos are foremost amongst the Achaians, and both are commanders and warriors of the first rank. Yet, theirs is not exactly a friendship between equals either; ... ...Hades. It is ironic that the friendship of Achilleus and Patroklos resonates so strongly precisely because of their tragic self-sacrifice; it is, perhaps, the most successful, celebrated, true friendship, that ever ended in failure. Works Cited 1. Aristotle, Nichomachean Ethics, trans. Martin Ostwald (Library of Liberal Arts 1999). Citations are given in book and page number. 2. Homer, The Iliad, trans. Richmond Lattimore (University of Chicago Press 1961). All subsequent citations are given in book and page number. 3. (Ethics 9.248): "Similarly, should he accommodate a friend rather than a good man†¦if he is not in a position to do both?" Book 9, Chapter 2 "Conflicting Obligations" deals with this subject at length. 4. (Ethics 9.250): "A further problem is whether or not a friendship should be broken off when the friend does not remain what he was." Aristotle's Perspective of Friendship in Homer's Iliad Essay -- Philos An Aristotelian Examination of Friendship in Homer's Iliad It is strange to label any friendship a success or a failure; it is stranger still to call the friendship between Achilleus and Patroklos a failure, especially when it has long been celebrated as one of the greatest friendships in antiquity. After all, friendship is called a success when friends remain just that, and a failure when they part ways with diffidence. How else could we possibly judge friendship? I suggest, however, that the good of the friend is the end of true friendship, and that this principle can guide critical inquiry into the nature of friendship. The basis of this statement is Aristotelian. The Nicomachean Ethics defines true friendship as the mutual appreciation of the intrinsic good in the other, and the desire to will the other’s good. The critique of true friendship, in Aristotelian terms, should consider not only whether the parties loved each other for their intrinsic good, but also the extent to which they were successful at promoting the good of the other. The tragedy of Achilleus and Patroklos is that, despite their love and desire to promote the good of the other, they may have ultimately failed. Their friendship may have failed not because of a lack of good will or capability, but because of the conflicting obligations placed upon that friendship by society, circumstance, and the unyielding character of Achilleus. For Aristotle, the perfect form of friendship "is that between good men who are alike in excellence or virtue" (Ethics 8.219).1 Indeed, both Achilleus and Patroklos are foremost amongst the Achaians, and both are commanders and warriors of the first rank. Yet, theirs is not exactly a friendship between equals either; ... ...Hades. It is ironic that the friendship of Achilleus and Patroklos resonates so strongly precisely because of their tragic self-sacrifice; it is, perhaps, the most successful, celebrated, true friendship, that ever ended in failure. Works Cited 1. Aristotle, Nichomachean Ethics, trans. Martin Ostwald (Library of Liberal Arts 1999). Citations are given in book and page number. 2. Homer, The Iliad, trans. Richmond Lattimore (University of Chicago Press 1961). All subsequent citations are given in book and page number. 3. (Ethics 9.248): "Similarly, should he accommodate a friend rather than a good man†¦if he is not in a position to do both?" Book 9, Chapter 2 "Conflicting Obligations" deals with this subject at length. 4. (Ethics 9.250): "A further problem is whether or not a friendship should be broken off when the friend does not remain what he was."

The Burden of Deceit in Public Life

The Burden of Deceit in Public Life: Sissela Bok Writing to Discover Nancy, a middle-aged politician, is more than eager to be elected as her town’s mayor in the next election. With the mind-set that she will, in reality, be limited as far as what she can do to help her town as a whole, Nancy decides to â€Å"sugar-coat† her public speech. In doing this, Nancy is confident that the citizens of her town will feel both reassured and hopeful that she will make many positive changes as mayor; even if she doesn’t have the power to do so.In contrast; Tyler, a sixteen-year-old boy, has just been confronted by his girlfriend about cheating on her with her best friend. Instinctively, he denies the situation as a whole, hoping his girlfriend will believe him. Although being dishonest, Tyler feels as though it is the best decision to save their relationship and prevent his girlfriend from getting hurt. While these are both hypothetical situations, they also happen in realit y, and on a daily basis. Nancy and Tyler differ from one another in age, gender, and case-but they are very much alike in the sense that they both chose to lie.The word lie is such a harmless, three-lettered-word, right? Wrong. Lying is something that is both overlooked morally and figuratively. Regardless of what extent one chooses to lie, they are still in the wrong. I feel as though there is no â€Å"grey area† in terms of telling a lie; there is truth, and then there is untruth. With this being said, I consider all of deception, self-deception, deceit, and mendacity to be forms of lying. Deception withholds dishonesty in itself; it undoubtedly correlates to any type of trickery and or fraud.Likewise, deceit involves being dishonest as well. Whether one does this through actions or words would just depend upon the situation. Mendacity includes both lies and also self-deception, making it a more severe form of lying. I do believe that there are different degrees of lying. T here are â€Å"white-lies,† which are used in minor situations, and often used carelessly by individuals. These particular lies correlate to what was said earlier when I stated that lies are overlooked both morally and figuratively.Why do individuals feel the need to tell a so-called â€Å"white-lie† in order to impress another person, cover-up a skeptical situation, or simply for their own enjoyment? This I cannot begin to fathom. In addition, a â€Å"white-lie† is accepted by many in our world today. Humans feel as though it is rational in certain situations and can obviously prevent matters from blowing out of proportion. This is fine, until of course the first â€Å"white-lie† adds up to five, and then ten, etc. Before that person can blink, he or she has converted into a compulsive liar.After a â€Å"white-lie† comes that of a normal lie. By this I mean one that is used intentionally, and with the purpose of covering up wrong. Those who lie ab out things such as committing adultery, stealing, or even taking the life of another, are all sinners in my eyes. To prevent from making this a religious response, I will just bluntly state that if a person is being immoral in any way, shape, or form, they are in the wrong. Lying correlates to this on many levels and is simply unjust.

And of Clay Are We Created by Isabelle Allende

When assigned to read the short stories in class to summarize and learn to paraphrase, there was one story in particular that emotionally touched me. This short story was â€Å"And of Clay Are We Created† by Isabell Allende. I found many great points that could be discussed about the story, and that is why I chose it to be a part of this research paper. This story is a touching momentum of a man's penetrating awakening that he no longer has to suffer from the emotional torment that was inflicted upon him during is childhood.Rolf, â€Å"like a flower sinking into the mud† (367) has sank into himself; a self that is magnetized with cataclysmic devastation and desolation. The volcano has erupted to bring an avalanche of despair, so does this same volcano explode, bursting to eventually bring calm and equanimity. Isabell Allende has Rolf Carle, a news reporter fly out to the devastating scene where you are introduced to Azucena, a young girl, stuck in the mud. Rolfe Carle s tays with Azucena in hopes of saving her from this catastrophe but in the meantime, he Journeys through his repressed hildhood memories.It is important to investigate repressed memories so you could courageously move forward to live a fuller life, instead of blocking these memories and living in the past. This paper will slightly take you through Rolf Carle's emotions, the effects these memories can have, and how to overcome them. I found it ironic how Rolf Carle is close to many people's histories when investigating the incident being a reporter but he is so distant with his own and we see this when he is telling his stories to Azucena.Rolf connected with Azucena at a level of xperience, whether it was physical or emotional, they became one and shared things with each other, some things being on a different level. This connection occurred because Rolf saw himself like Azucena â€Å"trapped in a pit without escape, buried in life, his head barely above ground† (Allende, 363). It is apparent that Rolf, like the buried and trapped girl, has submerged his own suppressed and hidden visceral terror; terror concealed from reality, that when it is unearthed, it is â€Å"intact and precise as if it had lain always in his mind, waiting† (Allende, 362).Like the eceased relatives who weigh down Azucena by clinging on her legs, so too is Rolf weighed down, incapacitated and paralyzed by the hauntingly vivid repressed memories. Rolf seemed to be trapped in pain as Azucena was in the mud, and confronting the thoughts of the girl dying was tough. Azucena taught him to pray, and eventhough it might have been consolation for herself, she later provides support for Rolfe when he was suffering through his past memories. This moment with Azucena, showed Rolf shame, fear, and regret.Rolfs emotional break down, as displayed with Azucena, esulted in him rising above the vultures and helicopters†¦ [flying] above the vast swamp and corruption† (366). The quest ion of importance and focus is not how this took place. In other words, it is not the line of successive actions and conversations, told and untold, that led to his decisive moment of freedom that is important. It is the cognitive and emotional process of a child who has been abused and chooses to either suppress or repression those traumatic painful memories.Indeed Rolf goes through a transformative change. But for 30 years he has â€Å"lived† or hoose to forget certain events that took place in his life. The reader is never told in full detail the abuse that was inflicted upon Rolf. We are given the illusion of a being beat with a belt then put in a closet. Such a painful event indeed was resulted in the present moment of physical pain, as well as, the present and future psychological damage done to Rolf, not mentioning the effects that it had on his sister.We are reminded time and again by survivors of abuse that emotional abuse is far worse because â€Å"the body is mean t for recovering and healing physical wounds, the vidence is in scars, but the mind has a difficult time reacting to emotional abuse because it is counterproductive and counter intuitive in an unhealthy and unnatural way' (abused victim who chooses to remain anonymous). When dealing with painful events, especially when occurring during childhood, a child often times chooses to either repress or suppress the memories hoping that he or she will never have to relive that moment. A repressed memory, according to some theories of psychology, is a memory (often of a traumatic nature) of an event or environment, which is stored by the unconscious mind but outside the awareness of he conscious mind† (pyshowiki), whereas, suppressed memories are those memories that are forgotten by choice. The question now becomes did Rolfs unconscious mind repress the memory or was it by choice that he suppressed his childhood experience?The answer first comes with an understanding that â€Å"memorie s stay in the brain for life† (Martin Dak). It is important to understand that â€Å"repressed memories do not disappear† (changingminds. org). â€Å"We can only bury memories for so long before they resurface† (Effect on the Mind). A person tends to â€Å"forget memories† because the fear f facing reality has invaded his or her life and he or she no longer has the fortitude to properly be engaged in the present moment.Like an earthquake that shatters glass into millions of pieces and demolishes massive infrastructures into complete and utter ruin; so too can the effects of repressed memories play in a person's life. If repressed memories are not received, accepted, and properly discussed, a lifetime of tortured reality can unfold in a person's life. We don't have to look any farther than the 30 years of life that Rolf lived. The reader is never given a glimpse into his life after the abuse. We are told he has a relationship with a girl and that he is a re porter.Only with extremely caution, lest we stereotype that all reporters and to conclude that his Job does keep him moving from one situation to the next, avoiding having to ever think about his own issues and life. People that have repressed memories could possibly have disorders like post- traumatic stress disorder, anxiety, and depression. â€Å"Dwelling on such emotions†¦ is overwhelmed by extreme mental trauma (Novella). One could also experience traumatic amnesia, â€Å"this involves the loss of memories of traumatic experiences† (Kolk).

Mat540: Statistics Concepts for Research Paper

Childhood Obesity Mat540: Statistical Concepts for Research I Childhood obesity is a growing problem in the United States. According to the Centers for Disease Control and Prevention, around 12. 5 million children and teens are obese. There are many things that contribute to this epidemic like poor diet and lack of physical activities to name a few. In this paper I will figure out if there is a correlation between childhood obesity and school cafeteria food. Many people feel that school cafeteria food is partly to blame for childhood obesity. I believe this is an example of correlation and causation.Data analysts often jump to unjustified conclusions by mistaking an observed correlation for a cause-and-effect relationship. A high sample correlation coefficient does not necessarily signify a causal relation between two variables (Johnson, (2010). Though I believe schools play a particularly critical role by establishing a safe and supportive environment with policies and practices tha t support healthy behaviors. Schools also provide opportunities for students to learn about and practice healthy eating and physical activity behaviors. But they should not be blamed schools for childhood obesity.Studies regarding childhood obesity need to consider: socio-economic background, genetics, what is tough at home, and if parents are obese; before schools can be blamed. Obesity is a problem that affects Americans at an alarming rate across all age, race, and gender categories. No single group is immune to the causes, occurrences, and the recent increases in the rate of obesity. However, what may be of greatest concern for researchers is the fact that while Americans enjoys an increasingly higher standard of living; obesity among children continues to grow.Nevertheless, there is to date no cure, or even universal treatment for the problem of childhood obesity. This is partly due to an inability to precisely pinpoint the cause, or causes, of the increases. Thus, we are left with a debate over which causes play the greatest role in childhood obesity and a plethora of prevention and treatment theories. Yet at the same time, it is clear that the occurrence of childhood obesity places those afflicted at increased risk of health problems now and in the future.Overweight and poor nutrition of children in the United States are becoming issues of increasing concern for public health. Dietary patterns of U. S. children indicate that they are consuming too little fruits and vegetables and too many foods high in fat and sugar. Contributed to this pattern of food consumption is snacking, which is reported to be on the increase amongst adults and children alike. One place where snacking is under increased scrutiny, where it is being increasingly criticized, is in U. S. chools, where snack foods are often to sold to supplement inadequate budgets (Crooks, (2003). â€Å"Essentially overweight and obesity result from energy imbalance. The body needs a certain amount o f energy (calories) from food to sustain basic life functions. Body weight is maintained when calories eaten equals the number of calories the body expends, or â€Å"burns. † When more calories are consumed than burned, energy balance is tipped toward weight gain, overweight, and obesity. Genetic, environmental, behavioral, and socioeconomic factors can all lead to overweight and obesity† (Butte, (2007).Although some school cafeterias get a failing grade in nutrition, others are working hard to serve healthy meals for breakfast and lunch and to banish junk food from the premises. According to a new survey (Alliance for a Healthier Generation, 2009), most parents want schools to limit students’ access to high-calorie, low-nutrient chips, sodas, and candy and to provide more opportunities for physical activity throughout the day. I remember my days in school when lunch consisted of fries, pizza and burgers. Today schools are trying to give their students some healt hier options.However teachers cannot force children to eat healthy food and exercise on a regular basis. They can provide children with a good idea of what foods that they should and should not eat. However this information is rendered useless if parents do not follow up on it at home. Ideally parents should take the time to teach their child what they should eat so that they grow up strong and healthy. They can do this by teaching their children about good nutrition and backing it up with healthy breakfasts, lunches and dinners.Parents should lead by example as children look to their parents for tips on how they should behave. This is evidenced by the fact that most obese children have obese parents. Parents can teach their kids to lead a healthier lifestyle by educating them on the importance of good food, regular exercise and how calories work. By doing this they will be able to take charge of their weight by making educated choices on their food and exercise routines. Whether in matters of social development or physical health, parents are typically considered the primary agents of children’s socialization and well-being.Also suggested to help curb childhood obesity parents need to improve their knowledge of child nutrition and decrease television viewing (Gable and Lutz, (2000). In conclusion the childhood obesity problem cannot be placed solely in the hands of schools. Childhood obesity is a global health challenge with no single cause and no single solution. This challenge demands more than individual efforts. It demands changes in public health policies and in the built environment at the local, state, and federal levels to prevent obesity beginning in early childhood and to make treatment available to overweight and obese children and adolescents.Without a concerted, cohesive effort to reverse the obesity epidemic, today’s children will have shortened lives filled with chronic illness. After all, schools seem to be natural places in whic h to enact cost-effective interventions on children. But schools do not seem to be good at drastically changing a student’s weight, and the elimination of junk food sales in schools is unlikely to upend the child obesity epidemic. The challenge is to develop interventions that reach into the home and community.Perhaps those interventions can start with schools, but they must reach beyond them to be effective. References Butte, Nancy F. ; Christiansen, Edmund and Sorensen, Thorkild I. A. (2007)  Energy ImbalanceUnderlying the Development of Childhood Obesity,http://www. nature. com/oby/journal/v15/n12/full/oby2007364a. html Crooks, Deborah L. (2003) Trading Nutrition for Education: Nutritional Status and the Sale ofSnack Foods in an Eastern Kentucky School Medical Anthropology Quarterly, NewSeries, Vol. 17, No. 2 (Jun. , 2003), pp. 82-199; Blackwell Publishing on behalf of theAmerican Anthropological Association Gable, Sara; Lutz, Susan (2000) Household, Parent, and Child Co ntributions to ChildhoodObesity Family Relations, Vol. 49, No. 3 (Jul. , 2000), pp. 293-300, National Council onFamily Relations Johnson, R. A. , & Bhattacharyya, G. K. (2010). Statistics: Principles & methods. –   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Sixth Edition. John Wiley & Sons Inc. Tamsin McMahon. (2011, June 11). Out to lunch? ; Policing snacks and BMI grades are no wayfor schools to fight flab: critics. National Post,A. 6. Retrieved March 13, 2012, fromBanking Information Source. (Document ID: 2373557331).

Novartis Pharmaceutical Corporation Essay Example | Topics and Well Written Essays - 500 words

Novartis Pharmaceutical Corporation - Essay Example The ideas identified here are further polished and developed in the Novartis Foundation for Sustainable Development and then the finalized solutions to cure the sufferings of the humanity are turned into Novartis product line. The objectives of the growth and welfare go hand in hand throughout these stages. The company’s goals and objectives are in line with its mission and all initial goals and objective contribute towards the final mission of the company. A more than 50.6 billion dollar sale in 2010 provide Novartis the solid financial grounds to support its research activities, fulfillment of commitments towards people, patients, communities, and environment. This not only contributes to the making of a corporate citizenship face of the company but shareholders also yield an increase of 5% in dividends. Novartis portfolio is widening rapidly and recent mergers and business purchases are a symbol of company’s confident march towards success. The fruit of this growth r eaching end to end and employees’ commitment towards the growth of the business marks this fact. (Report, 2010).Aforementioned short description of the company helps us to conclude our discussions with a sufficient insight into the scale of Novartis business and operations. This helps us to select the company for the SLP project and preparation of a detailed case. Moreover, the available sources of information can lead to the in-depth study of the company which is the most exciting part of any SLP project.

Comparative Financial Analysis of Ryan Air & Easy Jet for Financial Assignment

Comparative Financial Analysis of Ryan Air & Easy Jet for Financial Years ending 2010, 2011 and 2012 - Assignment Example Its headquarter was moved to Geneva which became the first base outside UK. Today EasyJet has in its service 175 aircrafts over 400 routes in 27 countries. In 2009, EasyJet catered to passengers with 50% having passports of countries other that UK. In the year 2010 EasyJet faced a number of major problems that posed a threat to its efficient service. There was the eruption of Eyjafjalla volcano that produced ash which induced problems in European airspace. Then there were incidents like heavy snowfall and major ATC industrial activities. All these along with various functional problems provide immense challenge to the performance level of EasyJet. It was the integrity and dedication towards work that stimulated the employees of EasyJet to continue to provide uninterrupted world class service. EasyJet is efficiently capable to take in its wings the opportunities available for consistently increasing profit in European short-haul aviation. Along with this growth, EasyJet stresses on co st reduction strategies and embracing pathways for more revenue. All these elements have the potential to ensure continuous growth of functional cash making. In the beginning of 2011 the Board decided to start the practice of dividend payments during profitable phases without ignoring the fact that the company always need to have a strong financial base with a prudent balance sheet. This will be a stimulating factor for the shareholders in profitable years even as the company continues to enjoy market share (EasyJet: Annual reports & accounts 2011, pp.4-7). Ryanair Ltd. is an Irish airline was established in the year 1984 by the Ryan family with the assistance of only 25 people. Ryanair’s inaugural flight had its daily route from Waterford in Ireland to London Gatwick. The first operating aircraft was a 15-seater Bandeirante that could carry 5,000 passengers. Headquarter of the company is situated at Dublin Airport. Focus on

What is data mining and how can it bring benefits to a business Essay

What is data mining and how can it bring benefits to a business organisation - Essay Example 2007).Data mining is incorporated for gaining in depth patterns for market intelligence from data warehouses containing massive amount of data. However, the issue that arises is not the quantity of data, as we already have massive amount of data to work with, it is the methodology that is required to learn data. Likewise, data provides all the attributes but how to utilize them for gaining benefit is another question. This is the area that is addressed by data mining, as it is used for extracting valuable information from large amount of data saved on periodic basis. Likewise, information that can be extracted may contain relationships and different patterns. For instance, a retail store may indicate that some products are more in demand in one channel of distribution, there may be two different products that are sold at the same time in a specific geographic location, some specific products are more in demand in some geographic locations and similarly, some products are more demandi ng in certain events may be associated with religious events. If we take an example of Wal-Mart, the store has found that if there is a probability of a hurricane, the demand of beet increases in that specific geographical area, therefore, stores have to stock more beers that usual in this sort of situation (Keating 2008). Employee associated with utilizing patterns of customer behavior from data mining, i.e. a financial analyst would seek facets of the store or organization that may become bankrupt, similarly, human resource managers would seek information of a successful potential employee, employees working in a credit card department would like to get information associated with credit card debts payments from potential customers and also to analyze the legitimate credit card transactions against the falsified ones, marketing department executives would like to extract information associated with product

Final Exam Essay Example | Topics and Well Written Essays - 2000 words

Final Exam - Essay Example Through examining an understanding these externalities, the reader can come to a more warmed understanding with respect to the ways in which it integrates with the needs of the respective stakeholders in question. Firstly, in seeking to understand the means through which organizational design. Impact upon the stakeholders, it is necessary to consider scientific management and the means through which this theory represents both positive and negative externalities (Knox & Walsh, 2005). Firstly, even though scientific management has been widely criticized by those seeking to understand different approaches to organizational design and theory within the past several decades, it nonetheless bears useful levels of understanding with respect to the way in which stakeholders can integrate with one another and maximize the level of efficiency that they ultimately are responsible for providing to the firm. As such, scientific management is oftentimes been defined as the following, the provisio n of a direct incentive system, a scientific training of workers, the creation of science or individual responsibilities, the division of work duties between managers and workers, and ensure that work is done in a timely and efficient manner (Perrow, 1979). However, even though each of these determinants is useful in helping to maximize efficiency of the given entity/firm, it is ultimately impossible to engage the personal realities of the individual stakeholders based upon these previously mentioned determinants. In short, even though the scientific approach is effective in helping to promote an integrated understanding of the way in which work should be delineated between stakeholders of the organization, it is so completely incapable of dealing with the dynamics of interpersonal communication, diversity, and a litany of other factors that it is widely discredited and unable to speak to all of the needs of a given organization. Further compounding the level of quantitative analysi s and the overall paucity of qualitative measurement, Taylor’s theory of scientific management is focused upon maximization of output while diminishing the overall quantity of input. Naturally, this is oftentimes done as a means of affecting a positive level of profitability within the firm/entity. However, such an approach does not factor in the way in which any type of employee need it might be represented that would require an alternate approach be engaged * Breton & Wintrobe, 1986). As can quickly be realized from a brief analysis of industry within the past, scientific management has been utilized as a means of taking advantage of workers, providing horrific working conditions, and losing sight of the fact that a given firm or business entity is ultimately responsible for ethical standards in the treatment of its employees and its consumers. As such, the reforms of the progressive era further underscore the fact that even though scientific management, and the approaches that engages, can be useful in certain situations, following this wholeheartedly and applying it strictly throughout the entire business environment is ultimately harmful to the level of growth, profitability, and success that a given firm might hope to exhibit. Similarly, even though the issues that have thus far been elaborated upon with regards to scientific manage