Warren Court

Between 1953 and 1969, Earl Warren was the Chief Justice of the United States Supreme Court. Supreme Court decisions made during the â€Å"Warren Court† time period led to significant changes in different aspects of life in the United States. The Warren Court affected public schools, separation of church and state, and the rights of individuals accused of crime. The Warren Court affected public schools. The Brown v. Board of Education had a big part in the Warren Court. They decided to ban segregation in public schools. Therefore, more black children attended white schools.However, the Brown v. Board of Education decision did not abolish segregation in other public areas, such as restaurants and restrooms. The Warren Court affected prayer in public schools. Engel v. Vitale decision states that prayer is no longer allowed in public schools. John F Kennedy suggested a â€Å"remedy† to people who disagree with Engel vs. Vitale. He says to pray more at home and not in schoo l. However, prayer in public schools continued. Prayers are part of school activities from early morning moments of silence to lunchtime prayer sessions.The issue in this continuing debate is that people wanted to continue fighting religion in school. Lastly, the Miranda decision affected American society. It has increased public awareness of constitutional rights. More people now know their rights and what they are entitled to. Someone accused of a crime be informed of his or her constitutional rights prior to interrogation. This protected the rights of the accused. Therefore, the Warren Court greatly affected American society. The Warren Court affected public schools and desegregation, prayer in public schools and the rights of individuals accused of crime.

The Blind Side and Pleasure

The film â€Å"The Blind Side†, is a very inspirational film. This film is a story of Michael Oher, a homeless African-American teenager from a broken home, taken in by the Tuohys', a wealthy white family who help him fulfill his potential. At the same time, Michael's presence in the Tuohy's lives leads them to some insightful self-discoveries of their own. Living in his new environment, Michael faces a completely different set of challenges to overcome. As a football player and student, Mike works hard and, with the help of his coach and adopted family, becomes an All-American offensive left tackle. The family received many things from accepting Mike. The Tuohy family received a pleasure out of adopting Michael, which could have been considered Hedonistic. The relationship between pleasure and goodness is also discussed. The Tuohy's decision to take in Mike shows a great deal of kindness. I think the kind of pleasure the Tuohy family got out of the adoption was love and happiness. Since when they welcomed Michael into their home, Michael brought the Tuohy family closer than they were before they had met Mike, which created more love within the family and between the Tuohy's and Michael. An example of when Mike brought the whole family closer was when it was Thanksgiving Day. The Tuohys' gathered around the television to watch football while eating Thanksgiving dinner but Michael went to the dinner table. When Leigh Anne realized that Michael sat down at the dinner table I think she felt this warmth inside herself, so she decided that the whole family should be eating dinner together at the dinner table. While the Tuohy family got closer they also allowed Mike feel the feeling of love they were feeling and eventually they adopted him. By the end of the film the pleasure the Tuohys' got out of the adoption was love and happiness because they saved a teenage boy's life, from whatever his future might have beheld for him if they hadn't met, whether it be from death or a terrifying lonely life. The term Hedonism refers to people whose sole pursuit in life is pleasure. John D. Rockfeller once said â€Å"I can think of nothing less pleasurable than a life devoted to pleasure. † I personally don't believe that one should spend their whole life pursuing pleasure because the satisfaction one receives from pleasure will be gone sooner or later, then they will find themselves running after pleasure again. But the Tuohys' pleasure to why they adopted Mike could be Hedonistic because the pleasure of love, being loved and giving love, can result in happiness and also the pleasure of happine ss; seeking happiness, could also result in happiness. And as long as they remember the life they changed, they would be forever satisfied. The Tuohys' had shown a great amount of pleasure and goodness. Goodness is the quality of being good and pleasure is a feeling of happy satisfaction and enjoyment. I think the relationship between pleasure and goodness in the film is that one could lead to the fulfilment of the other. An example of this from The Blind Side was when the Tuohys' saw Michael walking down the street in a t-shirt and shorts while it was pouring rain. After Michael talked to Leigh Anne about where he was going to stay for the night she decided that he'll stay over at their house for the night not thinking twice about her decision. If others were in this position they wouldn't think twice about letting him into their home, let alone even ask him where he was headed. Because Leigh Anne performed a quality of goodness that one night, it created the pleasure of love and happiness. One act of goodness lead to a pleasure being fulfilled. In conclusion, in The Blind Side, The Tuohy family received the pleasure of love and happiness as an outcome of adopting Michael. And also the act of goodness can lead to the fulfillment of a pleasure; goodness and pleasure are interconnected. Lastly, the pleasures that the Tuohys' seek can be considered as Hedonistic. â€Å"Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around† (Leo Buscaglia) is a quote of pleasure I very much agree with.

September 11, 2001 Attacks Research Paper Example | Topics and Well Written Essays - 2000 words

September 11, 2001 Attacks - Research Paper Example Only after the towers collapsed and news of a similar attack on the Pentagon and an attempt on the White House did the magnitude of the events of September 11, 2001 begin to come into focus. A survey of the damages that would follow would inform of the severity of the September 11 2001 attacks. Those damages would reach beyond the immediate vicinity of the attacks and change our lives in many ways. This research studies analyzes the actual and general damages and consequences of the September 11, 2001 attacks. Actual Damages Al Qaeda’s terrorist attacks on the World Trade Center on September 2001 claimed the lives of almost 3000 persons and caused the area’s economy up to US$83 billion directly and indirectly in losses (Okuyama & Chang, 2011). The damages to New York City were particularly far-reaching since New York City represents the financial center of the US. In addition to property destruction, South Manhattan, is home to New York City’s government and inte rnational commerce. As a result of the attacks, the government and commercial activities were at a complete halt for weeks to come. Office buildings nearby were empty and New York’s subway system came to a complete halt. Thousands of New York residents living beyond Canal Street could not return home. New York’s schools and bridges were closed down (Tucker, 2004). For the entire country and for most of the world, the airline industry suffered the greatest losses. Airports were shut down on September 11 with passengers stranded near and far, putting airlines to the expense of housing passengers. Formal claims by the loved-ones of victims who died in the three crashes resulted in unprecedented insurance and litigation expenses for the airline industry. Airport security also cost the airline industry millions in implementation and administration expenses (Tucker, 2004). With buildings destroyed, transportation interruption and business closures, New York City â€Å"exper ienced massive job losses† (Tucker, 2004, p. 401). The damages to the Pentagon were less extensive but shocking all the same because the attack on the Pentagon symbolized an attack on the US as a whole. On the morning of September 11, 2001, a commercial airline deliberately crashed into the ground floor of the Pentagon claiming the lives of 65 passengers and 125 Pentagon occupants (Bangash, 2006). The ensuing fire caused serious but reparable damages to the building. Engineers have claimed that the strong reinforced columns of the Pentagon mitigated the actual damages (Bangash, 2006). The direct costs of searching for Osama bin Laden and infiltrating terror cells are immeasurable and are costs that will burden the US for years to come (Tucker, 2004). Thus the economic damages directly and indirectly resulting from the September 11, 2001 attacks are difficult to quantify. Thus one of the long lasting consequences of the September 11, 2001 attacks is the realization that economi c loss resulting from traumatic events are not only difficult to quantify but difficult to minimize (Jonkman et al, 2003). General Damages For the purpose of this research study, general damages refer to damages that are not specific and generally not quantifiable in terms of dollars and cents. These kinds of damages are better understood as collateral or consequential damages. It has been established that many persons who survived the attacks and witnessed the

Hiring a Bank Teller Assignment Example | Topics and Well Written Essays - 500 words

Hiring a Bank Teller - Assignment Example satisfies the requisite skill, experience, education and other job-related requirements of the employment position such individual holds or desires, and who, with or without reasonable accommodation, can perform the essential functions of such position. The ADA prohibits discrimination on the basis of disability against a qualified individual† (Manju Banerjee et al 144). If Anna were to file a suit, the burden of proof would be on her to prove that she was in fact a qualified individual who would be able to handle the job functions that the boss described to her in the interview process. The crux of the issue with regards to the critical terms related to the ADA and their requisite consideration hinges upon the letter of the law with regards to whether Anna could ultimately represent the â€Å"skill† and â€Å"job related requirements† that the teller position required. Although Dave found himself in a difficult situation, and ultimately asked an illegal interview question, the fact of the matter was that he was ultimately unsure if she would be able to live up to the job related requirements that Dave required of all his bank tellers. In a word, Yes. If the employer is able to show that he/she cannot provide the accommodations that the individual requires because the cost of doing this would place an unreasonable burden on the company – it is possible that he/she may not have to do this. 5. What about Carl’s point the multiple sclerosis is a progressive disease and that Anna will almost certainly get worse, thus creating potential problems of absenteeism and health care costs. Can Dave consider this issue in his decision? The answer to this is both yes and no; however the fact remains that these factors should not enter into the discussion due to the fact that they are future eventualities and not based on anything other than the employer’s interpretation of stated fact and conjecture. Ultimately, he is unable and bound by law NOT to ask Anna bout

Human prompting behavior research paper Essay Example | Topics and Well Written Essays - 2000 words

Human prompting behavior research paper - Essay Example Human behavior is exhibited throughout a person’s lifetime and is impacted with certain traits that people have. Factors that determine human behavior include heredity, social norms, culture, religion, and attitude. Except for heredity, the other factors can altered through effective prompt processes to ensure that people demonstrate the desired behaviors. Human resource training is a critical component of organizational prosperity. Sitzmann and Ely focused their research on the effects of prompting self-regulation on regulatory processes, learning, and attrition. The authors defined prompting self-regulation as asking trainees reflective questions with the aim of stimulating their self-regulatory engagement during the learning process (Sitzmann and Ely 132). Reflective questioning implies taking some information gathered previously and using it in answering the question at hand. Reflective practice enables trainees to pay critical attention to practical values and theories through reflexive examination of human actions. Polaha, Amanda and Rachael argue that reflective practice is the most common tool applied in practice-based professional learning contexts where trainees learn from professional experience (336). Sitzmann and Ely concluded that continuously prompting self-regulation had the greatest effect on learning and attrition (140). This is because trainees applied the principles of reflective practice in their learning processes, leading to increased learning. Prompting behavior, however, did not significantly increase the self-regulatory activity. The subsequent modules were characterized by moderate self-regulatory activity and attrition. Continuously prompted trainees tend to continue with the training even if their performance is low. Thus, prompted trainees continue to apply other strategies to enhance their performance in learning, which helps them to remain engaged

Microsoft Wk 2 Essay Example | Topics and Well Written Essays - 500 words

Microsoft Wk 2 - Essay Example This was followed by IBM which reported sales revenues reaching $22.485 billion; and Oracle in 3rd place at $20.958 billion (van Kooten, 2011). Despite the dominance of Microsoft, one strongly believes that competition within the software industry has been stiff, especially in the last decade, as evidenced by the increasing numbers of new and innovative software companies that enter and participate within this sector. From the information gathered and generated by Software Top100 and as reported by van Kooten and Verberne (2009), there has been fastest growing software companies that aimed to compete and even topple the leadership position nestled by Microsoft. From among the fastest growing software companies noted, Google (headquartered in the USA) topped the list with a remarkable growth rate of 455%; followed by Kaspersky (from Russia) at a growth rate of 177%; and the third by Nintendo (of Japan) with a reported growth rate of 113% (1). The table below would clearly support that competition within the software industry sector has reflected intense pressure: The lure for financial growth in terms of sales revenues, net profits and vast opportunities offered by the fast developments that technological applications and software development has reflected paved the way for the increased competition, as seen. Further, the report of van Kooten (2011) revealed that the number of entrants and also departures from this sector also prove that stiff competitive pressures either make or break the existence, sustainance and continued support for software companies. In addition, just like in other fast moving industries and sectors, especially within the technological development and applications industry, some industry players apply diverse corporate strategies to fight for market shares. Some large organizations decide to acquire other smaller companies to expand market share and improve

Change model Assignment Example | Topics and Well Written Essays - 750 words

Change model - Assignment Example This paper is aimed at discussing the change process in an organization, including Health Safety and Environment change model and its application. The change process There are various models of the change process available today. Examples of models of change include the HSE; Kotters’ eight- step change model; Kurt Lewin’s model; Meta model among others. Kotter's eight-step model is a general organization-wide change management model where management initiates change (Beckhard 1969). It starts with increasing the urgency and building a guiding team. One must have the right vision and ensure you appeal to as many people as possible. Also, one must ensure that all obstacles against that vision are removed, maintain persistence and make the change last. Kurt Lewin’s model is based on the three processes of unfreezing, change and then freezing. Lewin’s theory, though appearing as impractical, is still relevant and has been adopted by most modern change process models (Almaraz 1994). The Meta change model, on the other hand, is based on the provision of understanding of the principles of the change process that is better than the other models. It achieves this by ensuring identification of the common themes in a broader perspective, ranging from individual to organization based changes (George & Jones 2000). First, one needs to study the patterns of change, which enables him or her get the stimulus for adapting to the change. The next step involves the rationalization of the necessity for change, preparing and adjusting to change that now becomes the normalcy. The Meta change model is renowned for its coverage of a broader range of fields thus diversifies the perspectives to the change process Rationale for the change model selected. The selected change model is HSE, which is the Health Safety and Environment change model. It is used in managing safety, health and environmental impact issues. The approach applied in the HSE model includes a combination of the project management and organizational development. This is essential as it facilitates implementation of discipline and structure to the change process (Kotter 2011). The HSE change model was used over more detailed change processes for instance the Kotters' eight-steps change model because the staff at the radiology department initiated the need for change. This eliminated the need for increasing the urgency as the radiology staff already wanted a better system. In addition to this, successful transition and adaptation to the change process requires the interaction and good relations between parties involved, in this case the hospital staff and patients (Bradford & Burke 2005). HSE model is a preferable choice as it encourages the recognition of people involved in the change process and this promotes successful transition (George & Jones 2000). HSE thus promotes team work, which is paramount to change the process. Being a health-care change (IHE), the HSE chang e model was the most suitable as it is geared more for managing change in the health-care provision which is driven more by the staff and patient needs at the radiology department. The IHE implementation change is taking place only at the radiology department and given the need for change originated from radiology staff, the HSE change model was chosen as more suitable for the health-care change. Conclusion For an organizational change to occur, the

Financial Accounting and Reporting Essay Example | Topics and Well Written Essays - 1750 words

Financial Accounting and Reporting - Essay Example The formation of the bank was done in cooperation by Unit Trust of India, General Insurance Corporation of India, Life Insurance Corporation of India and also four other Public Sector Undertaking (PSU) companies of insurance namely The New India Assurance Company Ltd., United India Insurance Company Ltd., National Insurance Company Ltd. and The Oriental Insurance Company Ltd. (Axis Bank, 2007).Presently, the bank occupies the third position among the banks in private sector to have a Pan network in India which includes over 1281 branches and Automated Teller Machine (ATMs) numbering 6270 making the bank to have the biggest system of ATMs in the country (Pandit, 2008; Axis Bank, 2007). In the year 2007, a decision regarding having its own individuality different from UTI-I as its parent was taken by the bank authority. And this is how the brand name ‘Axis’ was born. The bank was successfully accomplished to rebrand itself with its new name as ‘Axis Bank’. Thi s had assisted the bank to get rid of the dim perception as an entity that was government owned (Pandit, 2008).According to Axis Bank’s Annual Report for the fiscal year 2011, Rs. 3,388.49 crores was reported as its net profit. The earnings as well as the business of the Bank grew sturdily over the previous years. The net profit of the bank also rose by a considerable amount of 34.76 percent compared to the previous year. The substantial expansion in the business in all the segments was revealed in the form of vigorous financial indicators. The total income of the bank increased by 26.97 percent and reached to Rs. 19,786.94 crores in the financial year 2010-11 in comparison to Rs.15,583.80 crores in the last year. The return from operations in this period augmented by 25.08 percent to an amount of Rs.11, 195.12 crores whereas the profit in relation to operations rose by 22.42 percent and amounted to Rs. 6,415.69 crores (Moneycontrol, 2011). The progress in terms of revenue ca n possibly be credited to the performance of the central income streams of the bank such as the income from net interest (NII) as well as other incomes and fees. NII augmented by a percent of 31.14 to an amount of Rs. 6,562.99 crores which was more in numbers compared to last year i.e. 2009-10, whereas other income as well as fee rose to Rs. 4,632.13 by 17.39 percent in comparison to the previous year i.e. 2009-2010. The increase in NII by such a considerable percent of 31.14 was an outcome of the vigorous progress in the low-cost deposits of Current Account and Savings Bank (CASA) and also in assets on a regular average basis. All through the period, the entire earning assets amplified by 34.70 percent to an amount of Rs. 179,573 crores on a regular average basis and which had augmented in comparison to last year i.e. 2009-10. A progress of 32.81 percent was also observed in relation to the low-cost deposits in CASA which had increased from the previous year i.e. 2009-10 on a regul ar standard basis and which even assisted the bank to hold on to the funding prices (Moneycontrol, 2011). Additional income including fees, miscellaneous income and trading profit even augmented to 4,632.13 crores by a percent of 17.39 compared to the previous y

Phoenix Jones Character Analysis Essay Example for Free

Phoenix Jones Character Analysis Essay They say with age, comes wisdom. They say a tough life will build tough people. That the world, no matter how terrible it may seem or how bad things get, is only what you make of it. This has never been shown more so by Phoenix Jackson from Eudora Welty’s â€Å"A Worn Path†. Encumbered with age and poverty, Phoenix shows fortitude, cleverness, and a child-like view of the world while traveling to the city for medicine. Welty’s love of literature from her mother, and classic writing style with African American characters (Marrs) is clearly displayed in â€Å"A Warn Path†. Eudora Welty, whose life spanned most of the 20th century, represented the world of the deep American South in multiple genres. In stories, novels, and photography, the Pulitzer Prize winner was especially interested in the relationship of place to character. Her art explores the impact of place on the life of the individual depending on race, gender, and economic status, as well as the reverse influence of the individual character on environment, which is exeptionally displayed in â€Å"A Warn Path† (Marrs). In â€Å"A worn path† an elderly african-american woman, named Pheonix Jones, is up against the world on her way to town. Armed with nothing but her cane, she maneuvers through obstactle after obstacle, showing perseverence in the highest fashion through every disincentive that inhibits her journey. As such, her story depicts the Depression in the United States from the vantage point of a victim insufficiently represented in art—though a victim who, like the mythological phoenix her name evokes, resists annihilation, Phoenix transcends the abuse she experiences. This essay will explore Eudora Weltys character Phoenix Joness most exemplary traits. It will shine light on her fortitude, ingenuity, and light hearted view of the world. Provided along with Phoenixs traits is examples in which she shows each trait, with direct reference to â€Å"A worn path†. Imagine, having every bone in your body weakened with over seventy plus years of aging. You now have the bones of Phoenix Jones. Weakened, she struggles to get to town. Yet, still she keeps trecking over every obstacle thrown at her. This calls to merit her outstanding fortitude. At one point she encounters a barbed wire fence. With barbs glaring at her, hungry to put a halt to her journey, â€Å"There she had to creep and crawl, spreading her knees and stretching her fingers like a baby trying to climb the steps. But she talked loudly to herself: she could not let her dress be torn now, so late in the day, and she could not pay for having her arm or her leg sawed off if she got caught fast where she was. At last she was safe throught the fence and risen up out of the clearing,† (Welty 850). This is a fine example of her phenominal perseverance and fortitude, showing she was not only going to get through, but she refused to let that fence make even a scratch on her dress. And even before that, at the start of her journey, she already had shown her tremendous amount of determination. As she starts out on her journey she exclaims with a fiery attitude â€Å"Out of my way, all you foxes, owls, beetles, jack rabbits, coons and wild animals! Keep out from under theses feet, little bob whites. Keep the big wild hots out of my path. Dont let none of those come running my direction. I got a long way† (Welty 849-850). This shows that her mind is already set on getting to town and nothing is stopping her. These fine examples show the true, raw determination and fortitude within Pheonix Jones, showing that she may be frail, but she is anything but weak. There are few things that make true â€Å"good character†. Imagination is one of them. No one has better imagination than a child. A child sees the world as something different something better. Phoenix Jones clearly holds her inner-child within herself after all these years. After traveling a piece she decides to rest. â€Å"Up above her was a tree in a pearly cloud of mistletoe. She did not dare to close her eyes, and when a little boy brought her a plate with a slice of marble cake on it she spoke to him. â€Å"That would be exceptable,† she said† (Welty 850). Her imagination peeking forth, this shows even through her journey, she imagines a little boy giving her a slice of delicious cake, presenting that everything does not have to be serious. A little piece onward, she shows her enlightening imagination running wild again as she runs up on a menacing scarecrow that she gazes at from a distance. â€Å"Ghost,† she said sharply, â€Å"who you be the ghost of? For I have heard of nary death close by. † She found a coat inside that an emtiness, cold as ice. â€Å"You scarecrow† she said †Dance, old scare crow† she said, â€Å"while I dancing with you. † She kicked her foot over the furrow, and with mouth drawn down, shook her head once or twice in a little strutting way,† (Welty 851). Her fun loving child-like nature is highlighted through this passage, showing that she took a fear, and enlightened it when she found out it was a scarecrow, dancing with it, showing the trophy of imagination and optimism. Welty shows through Pheonix that imagination will never die, and that it is a precious tool to get over any obstacle. Further down the warn path, Phoenix is greeted by a discourteous hunter helping her up after she fell in a ditch in the wake of a nosy dog coming to investigate this strange intruder. This point is where she shows her cleverness and wit. As she is talking to the hunter, â€Å" Without warning, she had seen with her own eyes a flashing nickel fall out of the mans pocket onto the ground† (Welty 843), and she said nothing. As it continues the hunter runs off and she wittily bent over in his absence and â€Å"The yellow palm of her hand came out from the fold of her apron. Her fingers slid down and along the ground under the piece of money with the grace and care they would have in lifting an egg from under a setting hen†(Welty 843). As he later lies about having money to spare, this presents her wit, as she gained five cents from this brash traveller who has the audacity to later hold a gun to her head as a joke, which does not intimidate her, and only shows once again the fortitude previously stated in the last paragraph. As she gets to her destination, a clinic that she gets medicine from, she meets an attendant when she first walks in. She came to claim a bottle of medicine through charity for her grandson, which may just be a guise to get free medication, which in itself is a example of clever planning, the example I am using is of her interaction with the attendant. â€Å"Its Christmas time, Grandma,† said the attendant. â€Å"Could I give you a few pennies out of my purse? † â€Å"Five pennies is a nickel,† said Phoenix stiffly† â€Å"Heres a nickel,† said the attendant† (Welty 856). She persuades the attendant to give her a nickel, which in total gives her a dime, showing her witty resourcefulness. Whether she uses this ten cent for her grandson a windmill, or something else she wishes to buy, her adept skill and dexterity is presented as she uses wit and expierence to claim these precious boons. Pheonix Jones is a woman of many traits. From her perseverance to her sly inginuity, she uses all her characteristics to get through â€Å"A Warn Path†. She shows her child like perception in a way that eases the burdon of travelling. To the hills and back again seven times fold, her fortitude and will is an object of pure sovereinty over obstacles in her way and in her head. And with just a little bit of quick thinking and bamboozlement she was able to obtain a secondary reward from her journey, a skill that comes in handy throughout her life. Pheonix Jones is a pure, text book definition of strong.

The System of Inquiry Essay Example for Free

The System of Inquiry Essay The basic framework of the system of inquiry is to eliminate bias in determining the appropriateness of the actions and decisions of social workers in NASW. It also includes the consideration for the welfare of the people to whom the services of the social workers are rendered without prejudicing the welfare of the social workers at the same time. In essence, the basic framework revolves around the idea of withholding judgment until all the pertinent facts are considered and the natures of the ethical situations are analyzed. This basic framework will be used because social workers oftentimes deal with ethical dilemmas where the ethically sound and valid decisions are difficult to identify. In some cases, the options available for social workers are ethically permissible and yet they are required to choose only one option. It is therefore imperative to choose the most suitable option with the least corresponding harmful consequences possible. Otherwise, the prudent act of choosing carefully from the possible ethical options becomes a futile undertaking. The system of inquiry will be applied only after the facts of the case are identified. Thereafter, the applicable sections of the NASW Code of Ethics will be used as bases for determining the ethical worth of the actions or decisions of the social workers under study. A selected panel will head the investigations of the cases, the results of which are still subject to appeal, after which the decision will be considered final and irrevocable. Thus, the NASW Code of Ethics will not only serve as an immediate guide for the members of the organization. It will also function as an objective â€Å"arbiter† during investigations of ethical complaints or breaches in the proposed ethical conduct of social workers. The System of Inquiry As far as the NASW Code of Ethics is concerned, the primary role of social workers is â€Å"to promote the wellbeing of clients† because â€Å"client’s interests are primary† (Code of Ethics of the National Association of Social Workers). Thus, social workers are expected to set aside their personal bias and other personal concerns when professionally dealing with their clients. Senior leaders in the profession are likewise expected to secure the professionalism of the social workers because these senior leaders â€Å"can create, maintain, or change culture† (Managing Business Ethics Chapter09, p. 230). In other words, the observation that senior leaders can influence the outlook of the organization and its members implies the responsibility to make sure that direction of the actions and decisions of the members are aligned with the policies of the organization including the NASW Code of Ethics. There are instances when social workers face the dilemma of whether or not to allow the request of their clients which social workers know are harmful or do not provide any benefits to their clients. As an example, some social workers in the health profession may face the situation where their patient requests that his life support system should be cut for personal or family reasons. It may be that the patient’s family can no longer shoulder the expenses of providing a life support system to their patient-relative. A variation of this situation is when the terminally-ill patient is no longer capable of making an informed decision on what he wants to be done as far as his medical needs are concerned. As a result, the relatives of the patients are prompted to act or decide on behalf of their terminally-ill family member. In such cases, there arises a conflict in the interests of the patient and the social worker. On one hand, the interest of the social worker is to promote the welfare of the client at all times as a primary concern and as far as the NASW Code of Ethics is concerned, specifically section 1. 01 otherwise known as â€Å"Commitment to Clients†. On the other hand, the interest of the patient or the relatives is to cease the life-support system of their relative who is terminally ill. Most often than not, the attending physician is prompted by the circumstances to consult with his immediate superiors. In this case, the superior of the attending physician will have to use the NASW Code of Ethics as basis for the decision. Section 1. 02 of the NASW Code of Ethics states that social workers should not only respect but also promote their clients’ rights to self-determination and assist their clients in their efforts to identify and clarify their goals† (Code of Ethics of the National Association of Social Workers). Taking into account this section of the Code, it is apparent that the superior should respect the decision of the patient or the relatives of the patient to cut-off the life-support of the terminally-ill patient. It is suggested that it is not within the boundaries of either the attending physician or the superior of the physician to force their clients to follow the decision of the social worker. Since it is the primary obligation of the social worker to promote the welfare of the client, it follows that the social worker should not insist to sustain the life of the patient. It is this instance that shows how the right to self-determination of the patient may override the duty of the social worker.

Are All Religions Basically The Same?

Are All Religions Basically The Same? Imagine that three people are all touching a part of an elephant. The first is touching the elephants leg and says that the elephant is like the truck of a tree. The second is touching the elephants trunk and disagrees with the first. They think that the trunk is more like a large snake. The third person thinks that the elephant is more like a great wall because they are toughing the side. Each person is convinced that they are right and the others are wrong because of what they know and have experienced. What they dont realize is that they are all technically right because they are each describing a different aspect of the elephant. The same analogy can be applied to the major religions of the world. In 1973, John Hick discussed the idea for a paradigm shift in thinking about different religions in his book God and the Universe of Faiths. Hicks idea is that the different religions could be viewed as different human responses to one divine reality In a later book, Hick presented a theory that attempted to explain all the religions. Hick refers to this theory as a pluralistic hypothesis and defines it as that all religions can be described as culturally conditioned responses to the same ultimate reality. This theory faces one major difficulty though, the contradicting claims that each different religions makes. How can it be possible that all major religions are responses of the same ultimate reality if they contradict one another? For a pluralistic view to be plausible, the hypothesis has to sufficiently explain how religions can make incompatible claims while at the same time be responses of the same ultimate reality. To overcome this difficulty, Hick attempts to explain four critical factors: (1) people are inherently religious; (2) the substantial diversity of the content of religious beliefs; (3) that religious beliefs are not an illusion; and (4) that basically every religion positively changes its followers lives. Hick doesnt spend much time on the first two factors because they are self-evident to most. To argue the third factor Hick examines naturalism and absolutism. Naturalism is the belief that only natural laws and forces operate in the world and that nothing exists beyond the natural world. Hick believes that the universe can be understood when looking at it from this perspective. What he does not find plausible with the claim is that all religious beliefs are delusional. Absolutism, in contrast to naturalism, generally accepts a realist view of religious phenomena. Absolutism is also setup so that only one system of religious beliefs is exactly true and all other religions which disagree with it are false. Hick rejects this attitude because although absolutism may seem plausible when looking at only one religion, application to the real world leaves it highly implausible. Also if absolutism were true, empirical evidence would exist to confirm it. It is obvious that different religions hold conflicting beliefs on several aspects. It seems obvious enough also that almost every religion has positive moral change on its believers. So it implausible to believe that only one religion is true and it is the people who believe this that Hicks hypothesis has the most appeal to because it provides the framework for the claim that any religion which positively affects its believers lives is valid. However, for the hypothesis to be plausible it must sufficiently cover the conflicting truth-claims problem. A difficulty Hicks pluralistic hypothesis faces is the conflicting belief systems of various religions. In Hicks book An Interpretation of Religion, Hick claims that all religions authentically experience what he defines as the Real. Yet each religion has beliefs that are different and often contradict other religions. The question then is if different belief systems and conflicting truth-claims leaves Hicks pluralistic theory implausible. Hick does not believe that conflicting truth-claims disproves his theory but they do present a difficulty. Hick devotes an entire chapter in An Interpretation of Religion to discussing them, covering three separate points on which religions tend to disagree on. First are matters of historical fact, then matters of trans-historical fact and differing conceptions of the Real. Hick believes that these disagreements can be resolved by applying the historical method but it proves to be difficult. One reason is because many historical claims of religions have no other historical support outside the religion that makes them. Hick reasons that historical differences just must be accepted, because many are not over central articles of faith. Hicks basic argument is that most historical disagreements cannot be resolved and since the disagreements are not related to the essence of any religion, resolving them is not critical to the argument and therefore the disagreements do not create a problem for his hypothesis. Later in is his book, Hick considers conflicting trans-historical truth-claims. He defines them as having to do with questions to which there is, in principle, a true answer but which cannot be established by historical or other empirical evidence. Two examples he gives are the nature of the universe and the fate at death of human beings. The nature of the universe has been a main dispute between theistic and non-theistic religions. In applying Hicks definition, this is a dispute to which there is, in principle, only one valid answer. Nevertheless, the question cannot currently be answered, even by modern science because current scientific cosmologies can be companionable with either perspective. The fate at death of human beings is another example of conflicting trans-historical truth claims. This conflict mainly arises between eastern and western religions. Eastern religions emphasize multiple reincarnations or rebirths after death. Western theistic religions claim though that a person lives a single life that is followed by judgment at death to determine their eternal fate. These points are important to Hicks pluralistic hypothesis. In Hicks examination of various religions, he does not directly address different religions different beliefs of what happens at death because despite the differing beliefs, Hick reasons that every faith helps its people develop morally which he believes is an essential result of the switch from self-centeredness to Reality-centeredness. On this basis, he argues that these differences do not hamper salvation/liberation and therefore do not present any problems for his hypothesis. In his book, Hick also examines conflicting beliefs about the ultimate Reality. Hicks hypothesis asserts that all religions are correct interpretations of the Real. However, one obvious problem of this is the drastically different notion of the Real that each religion holds. As Hick previously claims, each religions deity is a correct, yet different face of the Real and since no concepts, categories, or distinctions can be applied to the Real, this prevents any potential contradiction between religions. So the differences between the basic concepts and practices of different religions, the different (and often) conflicting historical and trans-historical beliefs and the varied belief systems on which all of them are formed, are harmonious with Hicks pluralistic hypothesis. Compatible in that the multiple world religions constitute different conceptions and perceptions of, and responses to, the Real from within the different cultural ways of being human. However, Hicks hypothesis does not offer a satisfactory explanation of the problem of the conflicting truth-claims of the different religions. In order for Hicks hypothesis to be probable it has to be free from internal contradictions and accurately explain religious phenomena. It cannot sufficiently meet either of these conditions. This paper began with the scenario of three people each touching a different part of an elephant. This metaphor is basically a simplified version of Hicks hypothesis. Each religion is like a man who is unable to see the elephant as the whole it really is. But how do we know that the people are all describing the same elephant? Perhaps the first was actually holding the truck of a tree and the second was actually holding a fire hose and the third was touching the side of a building. This scenario has a critical flaw, it assumes the same thing it allegedly proves, that all three were touching an elephant. Furthermore, the scenario described does not really describe the worlds religions. None of the descriptions were conflicting, just different. What if each of the statements made about the elephant contradicted the statements of the others? Would it still be possible to assume that everyone is describing the same elephant? How much contradiction is required before it becomes clear that its not the same elephant everyone is describing? This same question can be applied to Hicks hypothesis. With the conflicting truth-claims of various religions, is it really reasonable to accept Hicks claim that all religions are just different interpretations of the same reality? Hick addresses the credibility of the possibility that every religion worships the same God and just refers to him by different names in Disputed Questions, entitled Jews, Christians, Muslims: Do We All Worship the Same God? He concludes that the trouble of this claim is that the various descriptions have to be compatible. The same criticism Hick applied against that position can be applied to Hicks own hypothesis. The differences between religions are far too great for his hypothesis to be plausible. Sensitivity Analysis: Applications and Issues Sensitivity Analysis: Applications and Issues For a given linear programming model, finding the optimal solution is of major importance. But it is not the only information available. There is a very good amount of sensitivity information. It is basically the information that accounts for what happens when data values are changed. Sensitivity analysis basically talks about how the uncertainity in the output of a model can be attributed to different sources of uncertainity in the input model. Uncertainity analysis is a related practice which quantifies the uncertainity in the output of a model. In an ideal situation, uncertainity and sensitivity analysis must run in tandem. If a study is carried out which involves some form of statistical modelling (forming mathematical equations involving variables), sensitivity analysis is used in order to investigate exactly how robust the study is. It is also used for a wide range of other purposes including decision making, error checking in models, understanding the relationship between input and output variables and enhancing communication between the people who make the decisions and the people involved in constructing the models. For example, we know that there are some variables which are always uncertain in a budgeting process. Operating expenses, future tax rates, interest rates etc. Are some of the variables which may not be known with a great amount of accuracy. In this regard sensitivity analysis basically helps us in understanding that if these variables deviate from their expected values, then how will the business, model or system that is being analyzed will be affected. An assumption called certainty assumption needs to be invoked in order to formulate a problem as a linear program. The assumption involved knowing what value the data took on, and decisions are made based on that data. However, this assumption is somewhat doubtful: the data might be unknown, or guessed at, or otherwise inaccurate. Thus, determining the effect on the optimal decisions if the values are changed is clearly not feasible because some numbers in the data are more important than others. Can we find the important numbers? Can we determine the effect of misestimation? In order to address these questions, linear programming is very handy. Data changes are showed up in the optimal table. A case study using involving sensitivity analysis is worked upon using solver in the later part of the report. 1.2. TABLEAU SENSITIVITY ANALYSIS Assume that we solve a linear program by ourselves which ends up with an optimal table (or tableau to use a more technical term).We know what an optimal table looks like: It has all the non-negative values in the row 0 (which we also refer to as the cost row), all non-negative right-hand-side values, and an identity matrix embedded. If we have to determine the effect of a change in the data, we will have to try and determine how that change affected the final tableau and thus, try and reform the final tableau accordingly. 1.2.1. COST CHANGES The first change that we will consider is changing the cost value by some delta in the original problem. The original problem and the optimal table are already given. If the same exact calculations are done with the modified problem, we would have the same final optimal table except that the corresponding cost entry would be lower by delta (this happens because the only operations which we do with the first row are add or subtract scalar multiples of it through m to other rows: we never add or subtract the scalar multiples of row 0 to the other rows). For example,let us take the problem Max 3x+2y Subject to x+y = 0 1 + delta >= 0 which holds for -1 = 5.4 11 NZ DISTILLATE: DAN + DJN + DUN >= 8.7 12 US DISTILLATE: DUP + DUN

Macbeth - Kingship Essay examples -- essays research papers

With detailed reference to the characters of Macbeth, Duncan, Malcolm and Edward in the play ‘Macbeth’, analyse William Shakespeare’s ideas and attributes towards kingship and assess what you think the audiences reaction to the play would be at the time. Shakespeare’s ideas towards kingship can be seen throughout the play. He shows that a king should be chosen by divine right and shows the attributes of what a good king should be. The play ‘Macbeth’ is set in medieval Scotland at the fictional time of King Duncan. Scotland is currently at war with the Norwegians when news of their victory comes through, with thanks to the two leaders of the army Macbeth and Banquo. On their travel home Macbeth and Banquo stumble upon some old hags, and they predict Macbeth’s future to him. This startles Macbeth and his hunger for power grows so much that he and his wife plot to murder the well-respected King Duncan. Under Macbeth’s reign, Scotland becomes a country of turmoil because of the wicked leadership. Macbeth murders his best friend and another friend’s family and because of this Tyranny, paranoia sets in on Macbeth who sees many ghostly visions of people he sent out to be murdered. Scotland greatly suffers under his reign, this turns Lady Macbeth mad, and she eventually commits suicide. Macduff, eventually goes to England to ask for the help of the noble king Edward, who is highly res pected for help to overthrow the leadership of Macbeth, and so the Anglo-Scottish revolt sees Macbeth to his death and Malcolm the son of Duncan is proclaimed king of Scotland. Macbeth is the main character in the play and starts the play as a very hard fighting, loyal soldier whose bravery had just led the way to a victory over the Norwegians. It could be an essay in its own right to talk about how the character of Macbeth develops and changes, at the beginning he is a god-like hero –a firm, strong, loyal character. But through allowing his ambition to suppress his good qualities, he becomes ‘this tyrant’ (act4 sc3 L12 –Malcolm), this ‘dwarfish thief’ (act5 sc3 L12 –Angus) and this ‘hellhound’ (act5 sc6 L42 –Macduff). The character of Macbeth is a study of how one person can degenerate from ‘Bellona’s bridegroom’ (act1 sc2 L55) to ‘this dead butcher’ (act5 sc6 L108). Ambition is his fatal weakness. He allows, first the witches’ prophecy act1 sc3 L46-50 and then his wife’s ambition... ... King Edward of England is the king least of all mentioned in the play, but still we can tell a lot about his character and what type of king he was. We can see that Edward was a good, loyal king, who wasn’t prepared to see others suffer. In act4 sc3 L141-145, a doctor comments on how some ill people touched Edward’s hand and were healed, Malcolm then after comments it is ‘a most miraculous work in this good king.’ Also, we can see that he is a good and caring king as he chooses to help Malcolm and Macduff in their Anglo-Scottish revolt. I have really enjoyed studying this play and it is most probably the best I have read. It is amazing how Shakespeare can make one man fall into evil just because of his lust for power, and not just that it is also the way in which he is able to do it, using his imagination, he is able to enthral his audiences into disbelief. It is clear to see Shakespeare’s ideas towards kingship in the play as Malcolm lists the attributes towards a good king in act4 sc3. I think most of all that the moods of the people at the time would have been mostly in shock at this tragic tale and amazed at the way the playwright could achieve this most gripping story line. Macbeth - Kingship Essay examples -- essays research papers With detailed reference to the characters of Macbeth, Duncan, Malcolm and Edward in the play ‘Macbeth’, analyse William Shakespeare’s ideas and attributes towards kingship and assess what you think the audiences reaction to the play would be at the time. Shakespeare’s ideas towards kingship can be seen throughout the play. He shows that a king should be chosen by divine right and shows the attributes of what a good king should be. The play ‘Macbeth’ is set in medieval Scotland at the fictional time of King Duncan. Scotland is currently at war with the Norwegians when news of their victory comes through, with thanks to the two leaders of the army Macbeth and Banquo. On their travel home Macbeth and Banquo stumble upon some old hags, and they predict Macbeth’s future to him. This startles Macbeth and his hunger for power grows so much that he and his wife plot to murder the well-respected King Duncan. Under Macbeth’s reign, Scotland becomes a country of turmoil because of the wicked leadership. Macbeth murders his best friend and another friend’s family and because of this Tyranny, paranoia sets in on Macbeth who sees many ghostly visions of people he sent out to be murdered. Scotland greatly suffers under his reign, this turns Lady Macbeth mad, and she eventually commits suicide. Macduff, eventually goes to England to ask for the help of the noble king Edward, who is highly res pected for help to overthrow the leadership of Macbeth, and so the Anglo-Scottish revolt sees Macbeth to his death and Malcolm the son of Duncan is proclaimed king of Scotland. Macbeth is the main character in the play and starts the play as a very hard fighting, loyal soldier whose bravery had just led the way to a victory over the Norwegians. It could be an essay in its own right to talk about how the character of Macbeth develops and changes, at the beginning he is a god-like hero –a firm, strong, loyal character. But through allowing his ambition to suppress his good qualities, he becomes ‘this tyrant’ (act4 sc3 L12 –Malcolm), this ‘dwarfish thief’ (act5 sc3 L12 –Angus) and this ‘hellhound’ (act5 sc6 L42 –Macduff). The character of Macbeth is a study of how one person can degenerate from ‘Bellona’s bridegroom’ (act1 sc2 L55) to ‘this dead butcher’ (act5 sc6 L108). Ambition is his fatal weakness. He allows, first the witches’ prophecy act1 sc3 L46-50 and then his wife’s ambition... ... King Edward of England is the king least of all mentioned in the play, but still we can tell a lot about his character and what type of king he was. We can see that Edward was a good, loyal king, who wasn’t prepared to see others suffer. In act4 sc3 L141-145, a doctor comments on how some ill people touched Edward’s hand and were healed, Malcolm then after comments it is ‘a most miraculous work in this good king.’ Also, we can see that he is a good and caring king as he chooses to help Malcolm and Macduff in their Anglo-Scottish revolt. I have really enjoyed studying this play and it is most probably the best I have read. It is amazing how Shakespeare can make one man fall into evil just because of his lust for power, and not just that it is also the way in which he is able to do it, using his imagination, he is able to enthral his audiences into disbelief. It is clear to see Shakespeare’s ideas towards kingship in the play as Malcolm lists the attributes towards a good king in act4 sc3. I think most of all that the moods of the people at the time would have been mostly in shock at this tragic tale and amazed at the way the playwright could achieve this most gripping story line.

What aspects of Charlotte Brontes Essay -- English Literature:

What aspects of Charlotte Bronte's What aspects of Charlotte Bronte's depiction and use of the character of Bertha Mason are most clearly illuminated by Jean Rhys' depiction and use of her parallel character of Antoinette? In Wide Sargasso Sea, written by Jean Rhys in the 1960’s, is a radical critique of the context of English Imperialism and male dominated society within which Charlotte Bronte wrote Jane Eyre. In order to both expose and oppose the parallels inherent in Jane Eyre, Rhys intertwines in her novel the two reading positions of feminist and postcolonialist criticism. Rhys demonstrates how both social and narrative conventions mandate that certain categories of women must be devalued if other categories of women are to assume importance. She does this by exposing to the reader how Charlotte Bronte in Jane Eyre, in order for her reader to give Jane an assumed importance, devalued by the Creole character Bertha; showing her to be made and giving us Jane’s description of her as â€Å"[she] seemed†¦a woman†¦ [she] reminded me†¦ [of] the foul German Spectre – the vampire† and Rochester’s comment that â€Å"the lunatic is both cunning and malignant.† Rhys, it seems was politically inspired to rewrite Jane Eyre and write back to the empire. Wide Sargasso Sea is a prequel to Jane Eyre which was written British Empire was at its peak. Jane Eyre was a representation of England to the English. Rhys decided to write back, because of being of white West Indian descent herself, she was offended by the representation of the mad Creole in the novel. Although Rhys says that she is not a conscious feminist her novels are always written from a female perspective and in Wide Sargasso Sea, the male character is exposed... ... express and put forward quite assertively. Christophine in particular, is not afraid to tell Antoinette’s husband exactly how she feels towards him/ On page 132 for example, Christophine says ‘I tell her so’†¦always it don’t work for beke. Always it bring trouble†¦so you send me away and you keep all her money. And what you do with her?† and later on further exposes and questions assumptions and values that Antoinette’s husband when she tells him â€Å"Read and write I don’t know. Other things I know.† So we can see the many ways in which Rhys uses the intersections of feminist and postcolonialist reading positions and criticism to expose certain aspects of character. Whether it be through two narrators, leaving one unnamed, showing many different sides to a story and emphasising and exposing the otherness of each are amongst many other narrative strategies.

Lehman Brothers Essay

In year 2008, financial crisis had led to the collapse of many banks in United States. Lehman Brothers was one of the banks that had filed its bankruptcy on 15 September 2008. It was the biggest bankruptcy in the history and it still is for now. Being the fourth largest investment bank in United States that had been established for 158 years, its failure had brought a big impact to the world financial markets. The failure of this large investment bank had triggered people around the world. After the failure of Lehman Brothers in 2008, there are a number of analysts and researchers that had tried to figure out the root of such event, the causes of the collapse, the effects of the failure and some lessons that could be learned from the failure of Lehman Brothers. All these papers and analysis have their own point of view. Therefore, there are a few objectives that I would like to focus on. In this paper, we will first focus on â€Å"What caused its failure?† Everything that happened will have its own reasons and causes. Next we are going to focus on â€Å"what is the effect of its failure?† Another objective that we are focusing on is the lessons that we gained from this failure. It is very important to study the story of Lehman Brothers who was a legend because it was established in 1850 until 2008 and they had survived through the world financial crisis. 1.0 History of Lehman Brothers Lehman Brothers was first founded by a new German immigrant Henry Lehman in Montgomery, Alabama in year 1844. He started up a shop named ‘H. Lehman’, which sells groceries and dry goods to some local cotton farmers. In 1847, his brother Emanuel Lehman arrived, and they change the name again to ‘H. Lehman and Bro’. In 1850, their youngest brother Mayer Lehman arrived in Montgomery and once again they changed its name and ‘Lehman Brothers’ founded by then. During that time, cotton was one of the important crops thus they have a high market value. The three Lehman brothers started to accept raw cotton from their customers as a source of payment for merchandise. Within a few years, the trading of cotton had become their most important part of their operation. In 1855, Henry Lehman passed away at the age of 33 from yellow fever. After Henry’s death, Mayer and Emanuel continued their business on commodities trading. They have their own policy, only their family members-sons, brothers, and cousins-that were permitted to be their partners. This policy carries on until 1920s. Their business grow and they formed a partnership with a cotton merchant John Wesley Durr to build their own storage warehouse. They used this warehouse to store their mass amount of cotton to enable them to support larger sales and trades. Their business continued to expand and they set up an office in New York in year 1858. However, Lehman Brothers faced hardship during the period of Civil War but they managed to rebuild their business after the war, and focusing their operations based in the New York office. Lehman Brothers expand to include sales and trading of other goods. Besides forming the New York Cotton Exchange, they were involved in establishing the Coffee Exchange and Petroleum Exchange. In 1867, Lehman Brothers became the agent of the Alabama government in selling the state’s bonds. In 1906, under the leadership of Philip Lehman, son of Emanuel, he partnered with Goldman Sachs, together they brought the General Cigar Co. to market followed by Sears, Roebuck and Company. There were around one hundred new issues that were underwritten by Lehman Brothers in conjunction with Goldman. Philip Lehman retired in 1925, and the company was taken over by his son, Robert Lehman. Under Robert’s leading, the company survived through the Great Depression, and they carry on their operation focusing on venture capital. In 1930s, they underwrote the Initial Public Offering (IPO) of the first television manufacturer, DuMont. They also helped to finance companies like Halliburton and Kerr-McKee. In 1969, Robert Lehman passed away and he was the last member of Lehman family to lead the company. Robert’s death had led to problems that brought hard times to the firm. In 1973, an important person, Pete Peterson was brought in to save the firm from its difficulties. He as the Chairman and CEO had led the firm from operating losses to record profits in five consecutive years. Lehman Brothers merged with Kuhn, Loeb Inc., and formed the country’s fourth largest investment bank preceded by Salomon Brothers, Goldman and First Boston. In 1984, American Express acquired Lehman Brothers to merge with retail brokerage Shearson to form Shearson Lehman Brothers. However, a few years later in 1993, the firm spun off and became known solely as Lehman Brothers. In 2001, the World Trade Center offices were destroyed by terrorist attack therefore their headquarters was moved to Manhattan in 2002. The firm continue to shine until 2008, it had recorded a high profit in 2007 but in less than a year’s time they was entangled in the subprime mortgage lending crisis. On September 15 2008, they filed a Chapter 11 bankruptcy in federal court. 2.0 Causes of its Failure The collapse of Lehman Brothers was a huge impact because everyone was thinking that it is impossible for such a large bank to collapse. Lehman Brothers had just reported a large profit in 2007, in less than a year time they filed for their bankruptcy. After the failure of Lehman Brothers, there were many people discussing about the causes that led to the failure of this large investment bank. Although they managed to pass through the past economic downturn with their business strategies but they could not survive the collapse of the housing market of United States of America. Until today, the causes of its failure were still being discussed among people around the world. Some would say that the poor management of the firm itself was the key to the collapse of the bank. The top management of Lehman Brothers failed to detect the problem that might occur with their balance sheet and their Chief Executive Officer (CEO), Richard J. Fuld had miscalculated the severity of the market upheaval. Lehman began to emerge into home mortgages in 2005 without bothering the early warning that the housing market in United States is being overheated and it will burst anytime. In 2007, two hedge funds sponsored by Bear Sterns collapsed and the market’s attention had focused on the value of subprime mortgages. The firm has confidence with itself because they consider itself as an expert in the financing real estate. Lehman Brothers did not manage to detect the alarm yet because their balance sheet was heavily weighted in commercial real estate which had nothing to do with the residential housing sector. Although the lower management might have detected the danger earlier but the news could not reach until the top management. The firm failed to realize that it was actually a ticking time bomb that might explode anytime. It is a norm that the top management was the last one to know whenever there is a danger because the employees would try to cover up. That is why the top management could not react to save the firm at an earlier stage. Some would argue that the CEO, Fuld was to blame because of his overconfidence and failure to recognize that Lehman faced a crucial crisis. Besides, Lehman paid an extremely high salaries and bonuses for their employees which total up more than half of the company earned in pre-tax profit. In addition, the accounting system of Lehman itself was a big flop. They used â€Å"Repo 105 transactions† that was described by their own accounting personnel as an â€Å"accounting gimmick†. First of all, some would question what does â€Å"repo† means. â€Å"Repo† means repurchase agreements, transaction which banks use it to borrow cash for short term. It involves raising cash by lending out high-quality assets for a short period of time. The banks will agree to repurchase their collateral in a few days or weeks. This way of recording their accounts created a false portrayal of their true financial status. Even the external auditor, Ernst & Young did not take further action to investigate the â€Å"repo†. According to Stern Stewart (2002), he said that accounting is no longer counting what counts and those in charge have not been wise enough or strong enough to resist their ploys to make the auditors’ definition of earning into a reliable measure of value. Accounting fraud and accounting manipulation are the major reasons to companies’ failure and financial crises. They intend to keep this matter and hide it from the shareholders and the public. In this case, the external auditors did not do what they a re supposed to do. They failed to give any warning to the shareholders about the non-disclosure of their financial statements. According to the Public Company Accounting Oversight Board, â€Å"an external auditor has a responsibility to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud† Lehman Brothers’ reckless way of lending made the firm into more liabilities. The subprime mortgages were to meet the needs of Americans who could not be qualified for long-term mortgages. Subprime mortgages were targeted on credit unworthy person but also had low interest rates on long term basis. Therefore, subprime mortgages were loans that are high in risk but low in return compared to the property to be purchased. Meanwhile, Lehman also encourages the â€Å"ninja (no income, no job, and no assets) or better known as liar loans†. These loans were banned in United Kingdom because â⠂¬Å"ninja loans† are loans offered to public without any form of collateral. Anyone could loan from the bank even he is without a job, without stable income and without any assets in hand. These loans are another key for the failure of Lehman. Such loans are the breeding ground of unethical behaviour in the financial market. These loans encourage the moral hazard to happen because the borrowers had nothing to lose as they have no assets to be held as collateral. Following the incident of the failure of Lehman, there are people questioning the decision of the Fed for not bailing out Lehman. Federal Reserve does not bail out Lehman because Lehman could not prove that they have the ability to repay the loan from Fed. There is a theory in the economics called the â€Å"Big Bank Theory† which means that governments will not allow a large bank like Lehman to collapse because it will bring a huge impact to the economic. This theory does works when American International Group (AIG) and Bear Sterns were being helped by Fed to prevent it from falling. Everyone thought the same fate will happen to Lehman as well because of the theory â€Å"too big to fail†. However, Lehman Brothers could not escape from the bankruptcy fate. Fed had conducted assessments and it showed that the failure of Lehman would not bring such a big impact to the whole world compared to AIG or Bear Sterns. Federal Reserve chose to bailout Bear Sterns but not Lehman Brothers because when the Fed bailed out Bear Stern in March 2008, it claimed that the bailout was an â€Å"extraordinary event†, thus it is impossible for Fed to save another troubled financial firm because it is not possible for â€Å"extraordinary events† to occur that often. Competitions are very common in each and every sector including banking and finance sector. Banks will compete among themselves on both assets and liabilities. According to Bolt and Tieman (2004), to survive the competition for loans and remain profitable, banks undertake measures that will drive the loan volumes and enhance profitability but ultimately compromise their asset quality and increase the probability of collapsing. Bank therefore started to increase the risk in their portfolio by lowering the criteria or terms and condition for a loan. Wilmarth (2009) agreed that competition impacts negatively on lending standards, based on events leading to the global financial crisis in 2007. Banks compete blindly with each other neglecting the possible danger that might arise and harmful towards the banks. They keep on offering subprime mortgages with low payments in order to attract more customers. When the housing prices collapsed in 2007, the borrowers could not refinance their mortgages and defaults happen eventually lead to the subprime financial crisis. 3.0 Effects of Its Failure In March 2010, it emerged that the bankruptcy was not just the largest ever to be experienced in the American financial system, but it was also one of the largest accounting scandals ever (Connerty, 2010). The failure of Lehman Brothers is similar to that Enron experienced earlier in 2001. Such failure and the present case of Lehman show how an investment bank had successfully fool all the investors and financial analysts. The investors of Lehman Brothers were badly affected because they could not escape from the financial crisis impact. In many countries, the investors were badly affected because most of them are holding the bonds issued by Lehman before it collapses. In Hong Kong, there are 43,000 individuals who had bought the so-called mini bonds up to a total of $ 1.8 billion. Pension funds, such as the New York State Teachers’ retirement plan had also incurred losses due to the collapse of Lehman (Bryan-Low, 2009, cited in Swedberg, 2010). Once Lehman declared its bankruptcy on September 2008, investors lose their money and some investors are even senior citizens. Although some investors do suffer a huge loss, but most of the world’s leading investment banks made big profits again in 2009. Investment banks have always been a very volatile business and it will still continue on to have its ups and downs. The failure of investment banks does not affect the long run of the business because it is a very profitable business. The consequences of the collapse of Lehman are not that long because some banks started to record profit within a year. However, United States of America’s economy was seriously affected and the US government needs to prop up the markets in order to avoid any further catastrophe and to avoid the history of the Great Depression 1930s to happen once again. 4.0 Lessons Learned after the Collapse Caplan et al., (2010) mention that in 2006, Lehman made a deliberate decision in pursuing a higher-growth business strategy. To achieve their goal they switched from a low-risk brokerage model to capital-intensive banking model that required them to buy assets and store them as opposed to acquiring assets to primarily moving them to a third party. This strategy at the time also brought a higher risk because most of the assets were long term and they were highly illiquid. As the subprime crisis happened, Lehman had to act quickly to liquidate its illiquid assets in housing mortgages. The crisis caused the assets to be bought at lower price due to the negative perception in the public. Lehman should have forgone its high-growth strategy because its cost had outweighed the benefits. Holding on with the strategy kept dragging Lehman into deeper danger because they should have sacrifice part of the profits to protect themselves from massive loss. Besides that, the top managers should have eliminated dubious accounting practices by holding to a high ethical standard. Lehman used Repo 105 was only one of the way of many wrongful action used by Lehman to show that their financial statements are still stable and at a healthy state. Lehman practiced the Repo 105 in an unethical way in order to acquire new loans by displaying a healthier situation compared to the actual situation. A standard accounting system open the way for unethical managers to take advantage of it. They practice the standard according to their own unethical behaviour in order to achieve or to display a healthy situation to the public. Therefore, the accounting standards must be modified to avoid any of the unethical behaviour that could affect the benefits of the public. The financial statements must meet the necessary accounting standard and the external auditors should point out the mismatch of the balance sheet and investigate for any problem occurred. In this way, it is easier to trace the problem earlier and the management could not have the chance to hide the true condition of their firm. Caplan et al., (2010) suggest that substance must be taken into consideration over form, in which the fairness and the health of the organization must be judged based on the substance of the statements and not simply the ratios inferred from them. Basically, expanding safety nets involves providing all-embracing guarantees to both creditors and depositors of both commercial and investment banks (Rochet, 2010). Expanding the safety nets is to maintain funding especially during the economic downturn times and to rebuild the investor confidence after such a major economic crisis. The strategy to stabilize the economic is very important and it needs to be carrying on a long term basis in order to prevent future failures. All these strategies should be carried out by investment banks themselves as they were one of the factors that caused the Lehman Brothers to collapse. In addition, we should have come out with strategies that were directed at dealing with the problem assets and implement the strategies in advance before the financial system failure occurs. It is better to prepare earlier rather than waiting for the failure to occur by its own. These strategies are basically of two types; they can either be in terms of government guarantees on specific high value loans but still keeping the loans on the failing firm’s balance sheet or acquisition of some or all structures securities and loan assortments (Stephanou, 2009). Although dealing with those problematic assets does not really reduce the firm’s vulnerability to such exposures but at least these strategies could tackle the liquidity problems and improve their creditworthiness. Government plays an important role to motivate the private investors to acquire the problematic assets or government can co-finance the acquisition of these assets. There is need for the industry regulators to enforce more stringent measures to ensure that investment banks do not bite more than they can chew. The regulators should have regular monitoring done on all the investment banks to ensure that they are on the right path and did not take up too much risky investment. From the collapse of Lehman Brothers, we could see that most of the investment banks faced financial crisis with insufficient capital bases and inadequate liquidities. The regulatory measure must be able to ensure that banks have the ability and quantity capital bases that could buffer the financial institutions from massive losses and to be strong enough to withstand any failures in the future. Banks need to have a good number of liquid assets all the time so that the assets could easily be transformed into cash to face any panics. To conclude, it is very important to enforce standards on the capital, leverage and liquidity of every investment banks to prevent financial cris is in the future. 5.0 Conclusions The recent competition in the banking industry has led to most of this banks engaging in risky exposures (Raghavan, 2003). This is very clear in the collapse of Lehman Brothers. We should learn up from the mistakes and ensure that we do not repeat it in the future. In the collapse of Lehman we could see that corporate governance plays an important role in every firm. The management must be clear with the firm’s condition and to make the right decision for the firm and to be alert towards any kind of possible danger. The Board and regulator could have intervened if Lehman practiced sound corporate practices and had not withheld information regarding the risk levels of the firm. Besides, the external auditors are also a part in this failure because they failed to detect the malpractices in their financial statements. According to Greenfield (2010), the main indicators of fraud could be detected in the financial statement apparently; the external auditors could not discover this activity. Looking forward, there is no crystal ball. However what is known is that the international financial system is a complex web of dealings, relationships and dependencies. It must however be noted that the demise of Lehman had not impacted on the US economy alone but the world as a whole. Lastly, never assumes too big to fail. Even the most sophisticated financial tools, cannot predict or time the market properly. No one and nothing guarantees you that having past successes, you can be granted the same in the future.

Internal information Essay

Accounting records are a prime source of internal information. They detail the transactions of the business in the past – which may be used as the basis for planning for the future (e. g. preparing a financial budget or forecast). The accounting records are primarily used to record what happens to the financial resources of a business. For example, how cash is obtained and spent; what assets are acquired; what profits or losses are made on the activities of the business. However, accounting records can provide much more than financial information. For example, details of the products manufactured and delivered from a factory can provide useful information about whether quality standards are being met. Data analyzed from customer sales invoices provides a profile of what and to whom products are being sold. A lot of internal information is connected to accounting systems – but is not directly part of them. For example: – Records of the people employed by the business (personal details; what they get paid; skills and experience; training records) – Data on the costs associated with business processes (e. g. costings for contracts entered into by the business) – Data from the production department (e. g. number of machines; capacity; repair record) – Data from activities in direct contact with the customer (e. g. analysis of calls received and missed in a call centre) A lot of internal information is also provided informally. For example, regular meetings of staff and management will result in the communication of relevant information. SAMPLE SOURCES OF INTERNAL INFORMATION: Balance Sheet of ICICI PERIOD ENDING 31-Mar-00 Assets Current Assets Cash And Cash Equivalents 1,479,000 Short Term Investments – Net Receivables 194,000 Inventory – Other Current Assets -. Total Current Assets – Long Term Investments 1,185,000 Property Plant and Equipment 48,000 Goodwill – Intangible Assets – Accumulated Amortization – Other Assets 81,000 Deferred Long Term Asset Charges – Total Assets 2,987,000 Liabilities Current Liabilities Accounts Payable – Short/Current Long Term Debt – Other Current Liabilities 2,454,000 Total Current Liabilities – Long Term Debt 57,000 Other Liabilities 215,000 Deferred Long Term Liability Charges – Minority Interest – Negative Goodwill – Total Liabilities 2,726,000 Stockholders’ Equity Misc Stocks Options Warrants – Redeemable Preferred Stock – Preferred Stock -. Common Stock 45,000 Retained Earnings 44,000 Treasury Stock – Capital Surplus 171,000 Other Stockholder Equity 1,000 Total Stockholder Equity 261,000 Net Tangible Assets $261,000 Source: Yahoo Finance Stock movement of I-Flex solutions Series Date Prev Close Open Price High Price Low Price Last Price Close Price Total Traded Quantity Turnover in Lacs EQ 03-Mar-2008 1,078. 95 1,037. 00 1,080. 00 1,020. 00 1,029. 90 1,042. 55 17954 190. 31 EQ 04-Mar-2008 1,042. 55 1,020. 00 1,075. 00 1,017. 00 1,047. 65 1,048. 25 36723 382. 44 EQ 05-Mar-2008 1,048. 25 1,070. 00 1,070. 00 1,030. 15 1,045. 00 1,039. 20 22219 231. 63 EQ 07-Mar-2008 1,039. 20 1,021. 00 1,032. 00 983. 00 1,004. 95 1,001. 50 22103 220. 45 EQ 10-Mar-2008 1,001. 50 955. 00 1,040. 00 946. 40 1,005. 00 1,015. 50 19099 192. 55 EQ 11-Mar-2008 1,015. 50 992. 50 1,065. 00 992. 50 1,045. 00 1,054. 65 21805 226. 22 EQ 12-Mar-2008 1,054. 65 1,100. 00 1,100. 00 1,000. 00 1,004. 00 1,007. 45 13398 139. 14 EQ 13-Mar-2008 1,007. 45 987. 05 1,010. 00 952. 00 954. 00 959. 10 15931 155. 65 EQ 14-Mar-2008 959. 10 962. 00 992. 00 920. 00 990. 00 983. 15 21685 210. 01 EQ 17-Mar-2008 983. 15 925. 00 970. 00 925. 00 965. 00 942. 95 12307 116. 99 EQ 18-Mar-2008 942. 95 931. 00 958. 50 925. 10 927. 00 936. 50 21230 200. 13 EQ 19-Mar-2008 936. 50 970. 00 978. 00 922. 00 925. 00 925. 55 21245 199. 40 EQ 24-Mar-2008 925. 55 948. 00 950. 00 895. 00 905. 00 908. 25 21626 197. 55 EQ 25-Mar-2008 908. 25 913. 50 1,008. 00 913. 50 990. 10 992. 55 58576 571. 10 EQ 26-Mar-2008 992. 55 988. 90 1,027. 00 974. 00 974. 00 986. 85 33402 335. 28 EQ 27-Mar-2008 986. 85 975. 00 1,003. 00 935. 00 951. 05 947. 10 118566 1,140. 60 EQ 28-Mar-2008 947. 10 970. 00 994. 00 956. 00 976. 00 984. 40 21658 210. 89 EQ 31-Mar-2008 984. 40 970. 25 985. 00 935. 00 948. 20 941. 10 39622 376. 60 Source: NSEINDIA.

Critically Assess the View That Natural Law Is of No Use When Discussing Sexual Ethics Essay

I believe that natural law is of no use when discussing sexual ethics as it is very vague and doesn’t take into account specific situations. Natural Law says that everything has a purpose, and that mankind was made by God with a specific design or objective in mind. It says that this purpose can be known through reason. As a result, fulfilling the purpose of our design is the only ‘good’ for humans. The Primary Precepts of Natural Law require us to ‘live in an ordered society’ to ‘reproduce’, to ‘educate our young’, to ‘protect the innocent’ and the most important to ‘worship God’. The most relevant of these in this subject is reproduction, and if you look at it as a duty to continue the re-population of God’s people than of course sex can be understood as a good and moral action. In fact there are many biblic references to sex and Gods opinion on it, in Genesis He says; ‘be fruitful and increase in number’ and through-out it shows that sex is necessary. The problem for a Natural Law supporter comes when sex is only done as an ‘efficient’ cause, e. g. or pleasure and enjoyment, this is not following God’s final cause of re-production. Contraception is seen as immoral in Natural law and for most Catholics. If contraception is used it splits the ‘efficient’ practice of sex from the ‘final cause’ of reproduction; this goes against that actions purpose and makes it wrong as not what God intended. However some Natural Law supporters would argue that sex is not about what humans gain from it but what God actually intended it to be about, which could be unity and love etc. Other philosophers/philosophies who argue that this way of thinking about contraception and sex can lead to situations of unnecessary suffering. For example, a utilitarian approach would assess how pain and pleasure can be maximised in a situation and so would probably sharply contrast with Natural Law. Another thing to consider when thinking about natural law and contraception is that they don’t take into account third world countries, for example, and how not using contraception will lead to a spreading of aids and children the parents can’t afford to give a good life. Homosexuality is another sexual issue that Natural Law calls immoral for the same reason as contraception, because it doesn’t fill in sex’s final cause and reproduction and so homosexual sex cannot produce any children it is not ethical. The Catholic Church has long supported this view and have declared that homosexual orientation is not in itself immoral but just like the infertile couple sex without the possibility of children makes it wrong. However another thing to consider as part of the ‘living in an ordered society’ precept is not being judgmental of other people. Pre-marital sex could be seen as either good or bad by natural law followers as if the couple is reproducing and being good nurturing parents then they’re fulfilling most of the primary precepts and that is good. However they aren’t fulfilling the main one, worshiping God, as the bible teaches that sex should be saved for marriage, so a lot of natural law followers would say it is wrong. Something to consider in this is if they’re actually planning to get married at all? Does it still count as pre-marital? Extra marital sex is also a contentious issue for Natural Law followers. In a wedding ceremony promises are made before God ‘to love and to cherish’ and most importantly ‘forsaking all others’ to stay married until ‘death do us part’. As a vow before God, this cannot be broken and still be part of the primary precept ‘worship’ God. The ultimate aim of life is to be ‘united with God’ through our moral actions, as society where immorality and deception are accepted is not a place where God is being worshipped effectively. Sex should be about reproduction and families and therefore bringing you closer to God not a violation of a sacred vow. To conclude, I would argue that Natural law is an overly harsh method of making ethical decisions. It does not take into account the most loving action for people and nor does he make any exception for circumstance or what will benefit the majority of people.

Business plan on milk company Essay

India is a state declared backward area and is eligible for various Fiscal incentives. In kuvadva, the land is cheaply and easily. Here, taxation is also less. Other favourable reasons for the selection to this particular location are as under: 1. Raw Material: Sufficient raw materials like Milk, Flavour, Water, etc. , are easily available. 2. Market: From the marketing point of view, we have a good and encouraging market for our product. There is a good demand available for Flavoured Milk. 3. Labour: We have got stable labour force and right type of labour in adequate numbers at reasonable wage rates. 4. Transportation: Being Rajkot a big city, we can easily have availed the transportation facilities. 5. Availability of Infra- Structure facilities: All infra structural facilities like water, electricity, telephone, etc. are very easily available. 6. Other facilities: Other large number of facilities can be available at this place such as subsidy, loans at cheaper rate, etc. PRODUCT INTRODUCTION AND MARKET ANALYSIS Dairy industry is of crucial importance to India. The country is the world’s largest milk producer, accounting for more than 13% of worlds total milk production. It is the world’s largest consumer of dairy products, consuming almost 100% of its own milk production. Dairy products are a major source of cheap and nutritious food to millions of people in India and the only acceptable source of animal protein for large vegetarian segment of Indian population, particularly among the landless, small and marginal farmers and women. Dairying has been considered as one of the activities aimed at alleviating the poverty and unemployment especially in the rural areas in the rain-fed and drought-prone regions. In India, about three-fourth of the population live in rural areas and about 38% of them are poor. The progress in this sector will result in a more balanced development of the rural economy. The importance of milk in human diet especially for children and expectant and nursing matters is vital. To meet the demand of the increasing population milk production in India has to be increased. It is neither possible nor desirable to increase the cattle and buffalo population to achieve this target. This can only be achieved by stepping up milk production of our bovine population by cross breeding of cows and use of improved cows and cow. Today, dairy cows are specialized to produce large volumes of milk. Specialist scale dairy farming is only viable where either a large amount of milk is required. Uses & Applications of Milk The term ‘milk’ refers to a heterogeneous mixture secreted by the healthy mammary glands containing fat, proteins and carbohydrates along with minerals and vitamins in the form of emulsion, colloidal suspension and true solution respectively in the continuous phase of water. In the other words milk may be defined as an emulsion of fat in a watery solution of sugar and mineral salts and with protein in a colloidal suspension. On storage of milk at some more temperature for some time, the acidity found increased to some extent and this increased acidity is known as Developed acidity. Milk is used as a food, Used as a complete food of infant, It is used to prepare curd, butter, ghee, cream and ice cream etc. , Milk is used in all homes, It is used in hotels and restaurants as milk food preparation and in the preparation of tea. Market Survey India is the world’s largest producer of dairy products by volume, accounting for more than 13% of world’s total milk production, and it also has the world’s largest dairy herd. The Indian Dairy sector acquired substantial growth momentum from 9th Plan onwards, achieving an annual output of 121. 8 (estimated) million tons of milk during 2010-11. This has not only placed the country on top in the world, but also represents sustained growth in the availability of milk and milk products for the growing population. The market is currently growing at round 5% pa in volume terms. There is an impressive level of processing i. e. 22% in organized sector. Major players in the dairy sector with dairy products include Gujarat Co-operative Milk Marketing Federation (GCMMF) and Nestle are the largest player. Other includes Milk food Limited, SmithKline Beecham Limited, Indodan Industries Limited, H. J. Heinz Limited, Britannia, Cadbury, etc. All other local dairy cooperatives have their local brands (For e. g. Gokul, Warana in Maharashtra, Saras in Rajasthan, Verka in Punjab, Vijaya in Andhra Pradesh, Aavin in Tamil Nadu, etc. ). Other private players include J K Dairy, Heritage Foods, Indiana Dairy, Dairy Specialties, etc. SOURCE OF RAW MATERIAL The one and only raw material on which the dairy plant functions is MILK. And as Gujarat has abundant livestock especially buffalo’s availability of the raw material is not a problem here. Fig. 1 Lower level or primary level milk producer’s co – operative make a collection of milk from member producers. Members’ producers are farmer owing cows of buffalos. They bring milk to primary level societies. The collection of milk through members’ producers standing in queue. An account of every member producer is maintained which contains the details regarding the fat content, quality and quantity of goods, time of collection and the payments due or outstanding. In case of quality of the co – operative must be alert so as to neglect. The collection of source milk and substandard milk. For pricing collected milk importance is given to quality. The milks’ prices are based on FAT and SNF. I. e. sold non-fat contents. It needs to consider the bacteria population in the milk for raw material paying milk price. Payment is done on daily or monthly bases depending upon co – operative policy and members’ preference. This milk is proportionately distributed and brought to milk processing plant. MACHINERIES 1. PASTEURIZER: Fig. 2 The pasteurizer consists of plate heat exchanger, balance tank, pump, hot water circulation system (including mixer of steam and water, hot water pump, steam adjusting valve and water level control) and computer system for pasteurisation program, CIP program, and temperature control. It is used in heating and cooling raw material. The pasteurizer is usually used in the process of milk, ice-cream, milk powder, fruit juice, and beverage, which is sensitive to heat. The material is pumped to the plate heat exchanger, then undergone preheating, holding, heat energy recover and cooling, which can keep the products original physical nature and taste. If the temperature is below the set degree, this is sensed by a temperature transmitter. A signal activates flow diversion valve and the material flows back to the balance tank, then the material is pasteurized again. The state of the pasteurization temperature is recorded on a disc of the recorder in process of pasteurization. 2. POLLY FILL MACHINE: The Polly fill machine helps to pack the milk into the achieves their bottles of various sizes. One such machine can pack 100 bottles of milk in one single minute. Fig. 3 PRODUCTION PROCESS Milk is processed through a process called pasteurization. In the process of pasteurization, the milk product is actually heated. The milk is heated in order to kill any bacteria that may be within the milk still. After the milk is pasteurized and all bacteria are killed off, the milk is then cooled and packaged and then shipped out to stores. Diagram 1 Dairy cattle are brought in twice a day and milked. Fig. 4 The cattle on this farm are fitted with microchip collars that register each individual cow as she enters the milking shed. This microchip identification allows the production figures to be collected & collated by computer for each cow. Each cow has its complete production for each location. Fig. 5 After milking, the milk is cooled and stored in refrigerated vats at four degrees Celsius until collected by the milk tanker. Milk is collected once a day. The tanker driver carries out preliminary tests to the milk, checking its smell, taste and that it has been refrigerated to four degrees Celsius. The failure to store at less than four degrees Celsius can result in the milk being bought at a reduced price or not at all. It is extremely important that milk remains refrigerated at all times to maintain product freshness. Because milk is a nutritious food, any bacteria that are present in milk will grow and multiply rapidly, particularly if the milk is not refrigerated. Fig. 6Fig. 7 At the milk factory the milk is pumped into holding tanks where it is held until the results of tests that are routinely carried out are known. These tests include: somatic cell counts, total plate count, butterfat percentage and protein percentage. The results of these tests help determine the price paid by the milk factory to the farmer. Fig. 8 PRODUCTION CAPACITY. Office equipment30,000 †¢TOTAL FIXED CAPITAL:Table no. 10 Sr. No. ParticularsTotal Value 1. Land37,00,000 2. Building17,50,000 3. Machinery and Equipment 9,35,000 4. Furniture 1,20,000 5. Office equipment 30,000 Total65,35,000 †¢TOTAL WORKING CAPITAL:Table no. 11 Sr. No. ParticularsTotal Value ( 1 month) RsTotal Value ( 3 month) Rs 1. Raw Materials9,08,00027,24,000 2. Salary and Wages 50,100 1,50,300 3. Utilities 14,000 42,000 4. Other expenses 14,000 42,000 Total9,86,10029,58,300 †¢TOTAL COST OF PROJECTTable no. 12 Sr. No. ParticularsTotal Value Rs. 1. Total Fixed Capital65,35,000 2. Total Working Capital ( For 3 Months)29,58,300. Total94,93,300 FINANCIAL ARRANGEMENT †¢SOURCES OF FINANCETable no. 13 Sr. no. ParticularsAmount Rs. Total Amount Rs 1. Promoter’s Contribution (71. 91% of total Capital required)68,26,300 2. Borrowed Capital(28. 09% of total Capital required) 12% of GSFC (50% of borrowed Capital) 12% of IDBI (50% of borrowed Capital) 13,33,500 13,33,500 26,67,000 Total94,93,300 †¢INTEREST ON CAPITALTable no. 14 Sr. no. ParticularsInterest RateTotal Value Rs. 1. GSFC Loan12%1,60,020 2. IDBI Loan12%1,60,020 3. Own Contribution9%6,14,367 Total9,34,407 PROFITIBILTY OF THE PROJECT (PER MONTH) †¢COST OF PRODUCTIONTable no. 15. Particulars1st year (60% Prod. Capacity)2nd year (80% Prod. Capacity)3rd year (100% Prod. Capacity) Variable Cost Raw material Wages Other expenses Utility 1,08,96,000 2,11,200 84,000 1,68,000 1,45,28,000 2,81,600 1,12,000 2,24,000 1,81,60,000 3,52,000 1,40,000 2,80,000 Total Variable Cost1,13,59,2001,51,45,6001,89,32,000 Fixed Cost Salary to Staff Depreciation Total interest paid Other expenses (50% of Office & Admin. Expenses) 3,90,000 4,31,250 9,34,407 84,000 3,90,000 3,51,938 12,45,876 84,000 3,90,000 2,89,490 15,57,345 84,000 Total Fixed Cost32,76,657 32,89,73833,59,912 Total Cost1,46,35,8571,84,35,3382,22,91,912. †¢COST SHEETTable no. 16 Particulars1st year2nd year3rd year Raw Material Consumed Opening stock of R. M Add: Purchase of R. M. Less: Closing stock of R. M. – 1,08,96,000 – — 1,45,28,000 – — 1,81,60,000 – – Cost of Raw Material1,08,96,0001,45,28,0001,81,60,000 Add: Direct wages Utility Total2,11,200 1,68,000 3,79,2002,81,600 2,24,000 5,05,6003,52,000 2,80,000 6,32,000 Prime Cost1,12,75,2001,50,33,6001,87,92,000 Factory Overheads: Repairs and maintenance Supervisor Production manager Depreciation on Building Depreciation on Machinery 18,000 72,000 84,000 1,75,000 2,33,750 21,000 72,000 84,000 1,57,500 1,75,312. 24,000 72,000 84,000 1,41,750 1,31,484 Factory Cost5,82,7505,09,8124,53,234 Administrative Expense SALARY TO: Manager A / C Clerk Peon Watchman Depreciation Interest on borrowed loan 84,000 36,000 18,000 8,400 12,000 22,500 3,20,040 84,000 36,000 18,000 8,400 12,000 18,825 2,74,320 84,000 36,000 18,000 8,400 12,000 16,256 2,28,600 Administrative Cost5,00,9404,51,5454,03,256 Cost of Production1,23,58,8901,59,94,9571,96,48,490 Add: Op. stock of Finished goods Less: Cl. Stock of Finished goods- 1,10,0311,10,031 1,35,0541,35,054 1,91,740 Cost of Goods Sold1,10,0312,45,0853,26,794 Sales and Distribution expenses. Salary to Sales Manager Transportation Expenses Advertising & Publicity Expenses Sales Expenses 84,000 14,400 60,000 14,400 84,000 19,200 80,000 19,200 84,000 24,000 1,00,000 24,000 Total1,72,8002,02,4002,32,000 COST OF SALES1,24,21,6591,60,37,6421,97,43,284 SALES1,45,30,6441,94,85,1642,43,30,412 PROFIT21,08,98534,47,52245,87,128 †¢RAW MATERIAL:Table no. 17 Sr. no. Raw materialQuantityRateTotal amount Rs. 1. Milk60,000 liters40 per liter2,40,000 2. Bottles1,60,0005 per bottle6,50,000 3. Bottle caps60 cartons(3000 caps each)300 per carton18,000 Total9,08,000 †¢STAFF AND LABOUR SALARY AND WAGES:Table no. 18 Sr. No. ParticularsNo. of PersonTotal Value Rs. 1. Admin staff330,800 2. Skilled Worker49,000 3. Unskilled Worker810,300 Total 50,100 †¢UTILITIES:Table no. 19 Sr. No. ParticularsTotal Value Rs. 1. Power12000 2. Water2000 Total14000 †¢INTEREST ON CAPITALTable no. 20 Sr. no. ParticularsInterest RateTotal Value Rs. 1. GSFC Loan12%1,60,020 2. IDBI Loan12%1,60,020 3. Own Contribution9%6,14,367 Total9,34,407 †¢REPAYMENT OF BORROWED LOANTable no. 21 Particulars1st year2nd year3rd year4th year5th year6th year7th year Total Loan (26,67,000)26,67,00022,86,00019,05,00015,24,00011,43,0007,62,0003,81,000 Less: Installment3,81,0003,81,0003,81,0003,81,0003,81,0003,81,0003,81,000 Closing Balance22,86,00019,05,00015,24,00011,43,0007,62,0003,81,000NIL Total Interest on Borrowed Loan 3,20,040 2,74,320 2,28,600 1,82,880 1,37,160 91,440 45,760 †¢DEPRECIATION SCHEDULETable no. 22 Sr. No. Particulars1st year2nd year3rd year 1. Building (10%) Less: Depreciation Closing Balance17,50,000 1,75,000 15,75,00015,75,000 1,57,500 14,17,50014,17,500 1,41,750 12,75,750 2. Machinery (25%) Less: Depreciation Closing Balance9,35,000 2,33,750 7,01,2507,01,250 1,75,313 5,25,9375,25,937 1,31,484 3,94,453 3. Furniture (15%) Less: Depreciation Closing Balance1,20,000. 18,000 1,02,0001,02,000 15,300 86,70086,700 13,005 73,695 4. Office and Equipment (15%) Less: Depreciation Closing Balance30,000 4,500 25,50025,500 3,825 21,67521,675 3,251 18,424 †¢OTHER EXPENSES:Table no. 23 Sr. No. ParticularsTotal Value Rs. 1. Postage and stationery1000 2. Repair and Maintenance1500 3. Advertising and Publicity5000 4. Transport Charges1200 5. Insurance and Taxes2000 6. Sales Expenses1200 7. Telephone Expenses1500 8. Miscellaneous Expenditure600 Total14000 OPERATING STATEMENT Table no. 24 Particulars 60%80%100% Sales (A)1,45,30,6441,94,85,1642,43,30,412 Cost Of Production Raw Material Utility Wages Total Cost. ADD: Opening Stock of Finished goods LESS: Closing Stock of Finished goods Total Operating Cost (B) 1,08,96,000 1,68,000 2,11,200 1,12,75,200 – 1,10,031 1,11,65,169 1,45,28,000 2,24,000 2,81,600 1,50,33,600 1,10,031 1,35,054 1,50,08,577 1,81,60,000 2,80,000 3,52,000 1,87,92,000 1,35,054 1,91,740 1,87,35,314 GROSS PROFIT (A – B = C) 33,65,475 44,76,587 55,95,098 Indirect Expense: Other Expense (Fixed) (Variable) Salary to staff Depreciation Total Indirect expense (D) 84,000 84,000 3,90,000 4,31,250 24,85,750 84,000 1,12,000 3,90,000 3,51,938 22,09,412 84,000 1,40,000 3,90,000 2,41,295 19,90,762 EBIT (C –D = E)8,79,72522,67,17536,04,336. Interest on own Capital Interest on Borrowed Loan Total Interest (F)6,14,367 3,20,040 9,34,407 6,14,367 4,26,720 10,41,087 6,14,367 5,33,400 11,47,767 EBT (E – F = G)(-) 54,68212,26,08824,56,569 LESS: Tax (40%)————4,90,4359,82,628 EATNIL7,35,65314,73,941 RATIO ANALYSIS PROFITABILITY ANALYSIS RETURN ON INVESTEMENT = EBIT x 100 Total Capital Investment (For the 1st year) = 8, 79,725 x 100 53, 34,000 = 9. 27% (For the 2nd year)= 22, 67,175 X 100 94, 93,300 = 23. 88% (For the 3rd year)= 36, 04,336 X 100 94, 93,300 = 37. 97% COST OF CAPITAL= Int. on own capital + Int. on borrowed capital x 100 Capital employed. (For the 1st year)= 5, 60,070 x 100 53, 34,000 = 10. 50% (For the 2nd year)=8, 33,394 x 100 94, 93,300 =8. 78% (For the 3rd year)=7, 37,357 x 100 94, 93,300 =7. 77% GROSS PROFIT RATIO = Gross Profit x 100 Total Sales (For the 1st year)= 33, 65,475 x 100 1, 45, 30,644 = 29. 59% (For the 2nd year)=44, 76,587 x 100 1, 94, 85,167 =22. 97% (For the 3rd year)=55, 95,098 x 100 2, 43, 40,412 =23% NET PROFIT RATIO= Net Profit x 100 Total Sales (For the 1st year)= 14, 41,818 x 100 1, 45, 30,644 =9. 92% (For the 2nd year)=26, 49,962 x 100 1, 94, 85, 164 =13. 60% (For the 3rd year)=38, 48,641 x 100 2, 43, 30,412 =15. 82% BEP ANALYSIS. BEP (In Units) = Fixed Cost Contribution (For the 1st year)=32, 76,657 8. 73 = 3, 75,333 units (For the 2nd year)=32, 89,738 2. 15 =15, 30,111 units (For the 3rd year)=33, 59,912 8. 88 =3, 78,368 units BEP (In Rs. ) = BEP in Units x Selling Price (For the 1st year) = 3, 75,333 x 40 = 1, 50, 13,320 (For the 2nd year)=15, 30,111 x 40 =6, 12, 04,440 (For the 3rd year)=3, 78,368 x 40 =1, 51, 34,720 PROFIT & LOSS A/C Table no. 25 Particulars1st year2nd year3rd year Income Sales ADD: Closing Stock Total of Income 1,45,30,644 1,10,031 1,16,40,675 1,94,85,164 1,35,054 1,96,20,218 2,43,30,412 1,91,740 2,45,22,152 Expenditure Opening Stock. ADD: Purchase of R. M. Utility Wages Total of Expenditure – 1,08,96,000 1,68,000 2,11,200 1,12,75,200 1,10,031 1,45,28,000 2,24,000 2,81,600 1,51,43,631 1,35,054 1,81,60,000 2,80,000 3,52,000 1,89,27,050 GROSS PROFIT33,65,47544,76,58755,95,098 Other Expense Other exp. (Fixed) (Variable) Salary Depreciation Int. on own Capital Int. on borrowed Capital Total 84,000 84,000 3,90,000 4,31,250 6,14,367 3,20,040 19,23,657 84,000 1,12,000 3,90,000 3,51,938 6,14,367 2,74,320 18,26,625 84,000 1,40,000 3,90,000 2,41,000 6,14,367 2,28,600 17,46,457 NET PBT14,41,81826,49,96238,48,641 BALANCE SHEET (1st year) Table no. 26 ParticularsAmount (Rs.)Amount (Rs. ) Liabilities Promoter’s Capital Borrowed Loan IDBI 13,33,500 GSFC 13,33,500 Profit and Loss A/C Total Liabilities 68,26,300 26,67,000 14,41,818 1,09,35,118 Assets Gross Block (Less: Depreciation) Debtor Cash on Hand Closing Stock Total Assets 24,03,750 18,85,336 65,36,001 1,10,031 1,09,35,118 BALANCE SHEET (2st year)Table no. 27 ParticularsAmount (Rs. )Amount (Rs. ) Liabilities Promoter’s Capital Borrowed Loan IDBI 13,33,500 GSFC 13,33,500 Profit and Loss A/C Total Liabilities 68,26,300 26,67,000 26,49,962 1,21,43,262 Assets Gross Block (Less: Depreciation) Debtor Cash on Hand Closing Stock Total Assets 20,51,812. 24,89,099 74,67,297 1,35,054 1,21,43,262 BALANCE SHEET (3st year)Table no. 28 ParticularsAmount (Rs. )Amount (Rs. ) Liabilities Promoter’s Capital Borrowed Loan IDBI 13,33,500 GSFC 13,33,500 Profit and Loss A/C Total Liabilities 68,26,300 26,67,000 38,48,641 1,33,41,941 Assets Gross Block (Less: Depreciation) Debtor Cash on Hand Closing Stock Total Assets 17,62,322 28,46,970 85,40,909 1,91,740 1,33,41,941 INTRODUCTION Lawrence Apply wrote, management is the development of the people and not the direction of things. Employees hold a key place in business. No business enterprise can exist and function without employees. The plan of the business may be perfect and also structure of the organisation may be perfect but if the recruitment of personals is unscientific, the business can’t gown. Milk sense pvt. Ltd. will enrich with technically sound and convicted manpower. The average age of the employees will be 23 years, their total appears will be 500, and their technical strength will be approximately 170, staff strength of the Dairy will be 110 and trainee workers will be approximately 230, Development and empowerment is the trait of the H. R. D. functions. The trainer and workers get hostel facilities and other benefits. BATCHES AND FACILITIES. Milk sense will run 2 shifts and the employers are distributed to fulfil the requirement. 1st sift runs from 8. 00A. M to 8. 00 P. M 2ed sift runs from 8. 00P. M to 8. 00 A. M Besides these the employees will be given many benefits like: 1. Uniform change room 2. A good canteen facility 3. Bonus 4. Transportation Facilities etc. 1. Uniform change room In milk sense pvt. Ltd. Workers will be provided with a changing room because workers will have to work with a food product hence the milk should be pure and germ free for those workers will have to change their cloths before starting their respective work. 2. Canteen Facility. One canteens functioning at site, where Breakfast / snacks are available in the morning hour and lunch from 12:00p. m. To 2:30p. m. at fixed charges. Tea, coffee etc. will be served in the office two times in the morning hours and once in the afternoon. 3. Bonus During festival season and at time of high profits the company will give bonus to their workers and employees. 4. Transport facility The company provides free bus services to commute and from all corners of Rajkot, kuvadva. TRAINING PROGRAMME AND WORKSHOP The Hosiery training centre Ahmedabad trains operating and maintenance of staff in the Dairy and food industries. Technical facilities at the institute were augmented during the year to meet the needs of co-operatives and private sector industries 260 participants attended various courses at the institute during the year. Milk sense’s personnel department will involve activities such as, †¢To recruit and select the very best candidates available for each vacancy. †¢Develop personal performance through improvement processes, which contributes to the overall growth of the employees and workers. †¢To create effective, need – based, future – ready, flexible salary and wages systems. †¢To create and keep record of each employee and worker. SALARY AND QUALIFICATION Minimum Salary to the workers in the dairy is Rs. 100 per day besides this they are provided provident facility. They are given wages as per the factory act. Qualification:- All the employees of the milk sense pvt. Ltd. will have to get the qualification of ITI or graduation. PERFORMANCE APPRAISAL Performance Appraisal is a system evaluation of a works performance and potential for development. The overall objective of performance official duties is importance the efficiency of an enterprise by attempting to mobilize the best possible efforts from individual employed in it. The salary reviews, the development and training of individuals, planning, job ration, each and every firm has its own method to evaluate this performance. In Our Company we also measure the skills, ability, performance, important function of personnel management, which helps them to make important decision like training and development, promotion, transfer etc. In a company the head prepares performance of any candidate’s confidential report and it is presented to his highest authority. This report is managed to any candidate to transfer, promotion etc. INTRODUCTION Marketing is a very vital function of any industries. To reach high profits. Every company has to handle its marketing function with care. As the whole world is turning in to a global market marketing function is getting more important in every company. The term marketing is changing in the word. If the market does a good job understanding Consumer need develops product that provide superior value and price distributes and promoters then officially According to E. W. cundiff and R. R. still, â€Å"marketing management is concerned with the direction of purposeful activities towards the attainment of marketing goals. † The basic goal of marketing is satisfaction of needs of customers and generation of revenue for the business purpose. ? GENERAL INFORMATION In MILK SENSE PVT. LTD. marketing will be a basic activity for the total business it is market which sells and distributes products to the people who need them at a place they want at a time they require and at a price, they are prepared to pay of late marketing department. Milk sense will have attracted the increasing attention from companies and nations because it provides good quality of product. Milk sense also provides enough quantity with the respect to price Density price channel of distribution etc. are all made on the basis of the information picked up from the market through constant & systematic research. MARKETING MIX According to Ferrel, Lucas and Luck a product, with the target Market as focal point, serves as the starting point for the development of a marketing mix strategy and forms the basis for all other decisions regarding distribution, promotion and price. Decisions relating to the development and marketing of products include amongst others, decisions about product attributes, branding, packaging and labeling. Milk is classified as a consumer good rather than a business good. It can further be defined as a convenience good in that the customer is supposed to have complete knowledge of the product before purchasing it, and because it is also purchased with minimum effort. It is important that milk, as a convenience good, be readily available when and where the consumer needs to purchase it. PRODUCT LIFE CYCLE: The declining consumption of milk has become an international phenomenon. The consumption of soft drinks has tripled in this period, making them the most popular beverage, while milk is ranked fourth after coffee and tea. PRODUCT DEVELOPMENT: New product development should also take consumer trends into account, such as consumers of milk becoming more health conscious. Labels with ‘fat free’ and ‘cholesterol free’ are turning into the selling points of the future. Milk marketers are aware that consumers perceive milk as being fattening, so emphasis should be placed on giving customers the correct information. This is as easy as printing more information on the bottle labels. Low fat fresh milk is sold as containing 2 percent fat, while full cream milk has merely 1 percent more fat than the 2 percent milk. There is an increasing need for more information to be printed on labels. An example of such a segment is the diabetic consumers. The diabetic market is untouched, while numbers of diabetic consumers are increasing. It is apparent that full cream milk is generally prohibited in most diet schedules, while skimmed milk may be consumed in limited quantities. It is important for dairy researchers and decision makers to note that consumers are requiring more dietary information, and consumption may increase if details of the product are provided. PACKAGING: Most of the dairies selected for the study use a ‘family’ packaging strategy, which means that all products in the range are almost identically packed or have an important packaging characteristic in common. Packaging, however, has many functions. The most important functions of packaging are to contain the liquid, promote milk and provide storage. Another function which is becoming increasingly important today, is the recyclability of the package used. Companies are becoming more ‘environment friendly’ by using a recyclable package, which should result in less waste. Wholesalers and retailers prefer packages that are easy to ship, store and to pack. Consumers, however, look for items that are easy to handle, open and close. Towrope, for example, launched a screw top 1 liters bottle of milk. The consumer can therefore easily open or close this container, whilst freshness is maintained by preventing the milk from absorbing other odors. PRICE: While one price for milk is for example set for all final consumers, different consumers attach different meanings to the price they pay for a product. The consumer’s aim is to spend his/her income in a way that will afford him/her maximum satisfaction. Most dairy companies have price margins in which to deal. Milk being a basic food, has a low profit margin of around ten to fifteen percent. The dairy industry probably has to familiarize the consumer with an acceptable price of milk, such as 40 RS. Per liters and maintain that price. CONSUMER BEHAVIOUR India’s dairy market is multi-layered. It’s shaped like a pyramid with the base made up of a vast market for low-cost milk. Consumers while purchasing dairy products look for freshness, quality, taste and texture, variety and convenience. Presently, barely 778 out of 3,700 cities and, towns are served by its milk distribution network, dispensing hygienically packed wholesome, quality pasteurized milk. According to one estimate, the packed milk segment would double in the next five years, giving both strength and volume to the modem sector. The narrow tip at the top is a small but affluent market for western type milk products. Of the three A’s of marketing – Availability, Acceptability and Affordability, Indian dairying is already endowed with the first two. People in India love to drink milk. Hence, no efforts are needed to make it acceptable. Its availability is not a limitation either, because of the ample scope for increasing milk production, given the prevailing low yields from dairy cattle. It leaves the third vital marketing factor affordability. How to make milk affordable for the large majority with limited purchasing power is essence of the challenge. One practical way is to pack milk in small quantities of 250 ml or less in polythene sachets. Already, the glass bottle for retailing milk has given way to single-use sachets which are more economical. Another viable alternative is to sell small quantities of milk powder in mini-sachets, adequate for two cups of tea or coffee. ADVERTISING As an entrepreneur in the milk industry milk sense first of will start its advertisement by providing free sample and giving advertisement in magazines and standard newspapers like â€Å"TIMES OF INDIA†. Fig. 9 An identified Sponsor can define advertising as a mass promotion of goods & services. As per many classical writer of management says â€Å"Effective Advertisement makes selling task half†. After a little success Milk sense will adopt the same strategy but in rigorous manner. The product of milk sense will be published on very popular T. V channels like â€Å"National Channels†, Zee T. V. † â€Å"SONY â€Å", â€Å"STAR PLUS† etc. Generally T. V. channels are most popular and suitable medium of such advertisement. DISTRIBUTION CHANNEL. The distribution of fresh milk, being a perishable product with a limited shelf life of about 3 days, needs careful planning. It is important that all milk packages have a sell-by date printed on the product. This is an indication to the customer of the product’s freshness. If milk is uniformly priced, many customers consider their choice of purchase by checking the shelf life of the milk. Shelf life has become an important product benefit, which is associated with freshness. As competitive pricing strategies may urge customers to look for other benefits besides price, branding and ‘freshness’ become important.