Developing new online e-commerce or e-business company Essay

Developing new online e-commerce or e-business company - Essay Example The business model will explain the basic business strategy and the mode of operation for the new E business plan. The business model will not be focusing on the potential revenues and the costs involved; however the methods of generating revenue through the business will be dealt with in detail. In the UK, there are a number of insurance service providers and hence many options are available to the customers. In the search for the perfect insurance, the customers collect information from various websites, visit the insurance providers or make numerous calls to enquire about the policies. This business will aim to provide a one stop service with all the details, features and prices of the various policies available in the market. PriceComparison.com, as the name indicates will focus on providing a price comparison service to the customers in the UK. The main product that will be focused will be the General Motor Insurance, along with other products such as, breakdown insurance, pet insurance, home & contents insurance as well as life insurance. Financial products such as credit cards, personal loans will also be included in the service. Utilities comparison service will also be provided as part of the service. The customer will enter the PriceComparison.com website and select the product he is interested in. The customer will then enter some of his personal details, or login, if he is an existing customer. Once the required details are entered, the customer will be prompted with questions related to the product he is interested in. Based on the details entered, PriceComparison.com will connect to the quote engines of the partners and will provide a consolidated list of all the quotes to the customer. Provision will be given to sort the details based on a number of criterion. The customer can then select the preferred provider and complete the transaction by paying the required amount in the partner’s website. This flow is illustrated in the

E-Learning and E-Services

E-Learning and E-Services Social Impart: E-learning is a structured, purposeful use of computer or electronic system which covers a wide set of processes and application such as web-based learning, computer-based learning, distance and flexible learning via a web browser, through the internet or an intranet, interactive TV, satellite broadcast, audio and videotape and CD-ROM. Based on the survey questionnaire, it noted that 98.2 percent of people are prefer searching the information for working or studies purpose via internet and this proved that more of the worlds people become connected to the network. Connectivity to this network and the ability to master it once on has become an essential part in the new century, and also a key to success, opportunity and fulfillment for the people around the world. E-learning is deployed to reach geographically dispersed groups, to provide consistency, to provide â€Å"anyway-anytime† learning, to ensure compliance with regulation. E- learning is also deployed with the objective of enhancing student knowledge and cost saving. It is used for broadening the academic scope and provided much more references and learning scopes than the ones provided in the usual text books. Effective e-learning can also improve the performance on core subjects and foster development of new century skills, whether in mature or emerging countries. It can help in increasing student motivation, engagement and attendance. E-learning could have potentially major effects on the way higher education is designed, implemented and delivered .For students, e-learning can provide an educationally-superior alternative to traditional lectures, in which education can take place outside of the lecture hall. E-learning can also provide a model for students on how to train themselves to become self directed independent learners, which may assist them to become ‘life long learners. On the other part, for lecturers, e-learning may cause changes in work patterns and even change their professional role, but in addition, e-learning provides them the opportunity to train students in real business situations and new methods to evaluate their learning. As lecturers have the influence to eliminate students technical frustrations, make them feel empowered and encourage them to interact with one another, the role of the lecturer is become predominant in the successful delivery of e-learning initiatives. According to Malaysia Ministry of Education and Intel Malaysia, in a one to one (1:1) e-learning program at 10 primary and secondary schools in Malaysia, 85 percent of teachers, many of whom were skeptical initially, reported that the program lend a hand to them create a collaborative and innovative e-learning environment within their classrooms. E-learning represents a change in teaching and learning style. The precise nature of the change is hard to clarify, however allocation of sufficient resources and time. The major advantage of e-learning is its flexibility, accessibility, and convenience. Flexibility in variety of forms is also an often-identified positive feature of the virtual school or online school. Students are able to work at home, able to get extra credits that did not fit into their regular school day, and to take an extra course which is not offered at their school. It can save the travel cost and time contemporary. Besides that, as web browser software and internet connection are widely available, students are able to search information or material easily and efficiently. E-learning can enhance retention by varying the types of contents such as images, sounds and text work together, creating interaction that engages the attention, providing immediate feedback, encouraging interaction with other learners and instructors in discussion boards, chat room, instant messaging and all offer interaction for learners effectively. Every application has two sides, there are identified drawback with the use of e-learning. E-learning is not suitable for all kind of learners as e-learning emphasizes independent learning and requires the completion of a lots of assignment, tasks and interactive collaborations. Students with low motivation will have to face a stressful feeling and will not able to complete their modules, rendering the strategy ineffective. In addition, there are some people who are not able to deal successfully with isolation. The short of human interaction and the absence of active guidance increase the likelihood of disinterest and boredom. There are not all type of content is suitable for e-learning. The educational institutions are not yet prepare to adapt to the e-learning capabilities due to which many of the contents cannot be used to the e-learning platforms. Students taking on e-course may have the opportunity to receive a risk-free simulation environment, in which they can make mistakes without directly exposing themselves, eventually getting the feedback on the consequences of their actions. E-learning requires new skills in content producers and still has to clearly demonstrate a return on investment. Enabling technology might also be costly since there need to develop advanced visually-rich content for the learners. Nowadays, worlds people are currently moving towards an electronic and internet service system called e-services. E-services is a highly general term referring to the provision of services through internet and act as an interactive, content-centered and internet-based customer services, driven by the customer and integrated with related organizational customer support processes and technologies with the goal of strengthening customer-service provider relationship. E-services are including e-insurances services, e-banking services, e-financial advice services, flight or railway e-ticket services, hotel e-booking services, package tour e-services, real estate e-services, food take away e-services and so on. E-services are offering a lot of advantages to their users. The users are being familiarized with the electronic information personally and being educated on using advanced technology. Furthermore, easy tracking of payment to beneficiarys accounts thus it will enhance audit trail for the users. It can be also reduced cases of corruption and increased convenience and flexibility of the users as the users can access e-services in home without travel and this can help to save the travel cost and time contemporary. E-services have improved data acquisition, transformation and retrieval which unlike the data chaos in a traditional service provider. In addition, it allow in searching of large number of heterogeneous data such as documents, database, messages, pages and multimedia. It also involves the citizens in governmental activities providing easy access to information via internet. E-services are conducted at a distance, uncertainties and risks are magnified. Therefore, users have to rely on image and promises. Some services are confused of proper legal and regulatory framework. Besides that, users may face grave danger as the personal information including name, address credit card number, bank account number and so on which can be accessed by other culprits through e-services. Disclosure of private information, counterfeiting and illegal alteration of payment have been listed in the drawbacks of e-services.

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Amniocentesis: Advantages vs. Disadvantages & Ethics Amniocentesis has become of the most controversial and fastest growing trends of expecting parents. The pros and cons of this contentious prenatal test have continually been increasing. Amniocentesis is a prenatal test that allows a doctor to gather information about a baby’s health and development from a sample of amniotic fluid. The test is most commonly done when the women is between 15 and 18 weeks pregnant. The test is used to determine whether the baby has genetic or chromosomal abnormalities. Amniocentesis has recently caused a great deal of controversy in the news at doctor offices in the United States. After comparing the pros and cons it is eminent that amniocentesis is an important test that should be offered to those pregnant women who desire to have it. Amniocentesis offers many advantages to the expecting mother. This test determines whether the unborn baby has genetic or chromosomal abnormalities. It identifies several hundred genetic disorders including some of the most common such as Down syndrome and Edward’s syndrome. It can also identify other genetic disorders such as Tay-Sachs disease, Huntington’s disease, Sickle cell disease, and cystic fibrosis. Other testing techniques such as ultrasounds pick up on these problems. Only amniocentesis is able to provide the information needed to diagnosis these problems in the womb. Amniocentesis can also indicate whether the baby is at risk for spina bifida and anencephaly. The test is more than 99 percent accurate in diagnosing these various conditions. It is the only test that can provide results which are accurate. Other important reasons to have the test include checking the well being of the baby. This is important if the mother has blood sensitization, such as Rh sensitization. Also the test can determine whether the baby’s lungs are mature enough for an early delivery if the mother appears to be in premature labor. As amniocentesis has become more popular more women opt for the test to ensure that their child is in perfect health. More than 95 percent of the high-risk women who have amniocentesis receive good news from their results. Only about 5 percent will be found to have a baby with a problem. This test is usually offered to those who are found to have a somewhat increased risk of having a baby with a chromosomal or genetic defect. :: Amniocentesis: Advantages vs. Disadvantages & Ethics Amniocentesis has become of the most controversial and fastest growing trends of expecting parents. The pros and cons of this contentious prenatal test have continually been increasing. Amniocentesis is a prenatal test that allows a doctor to gather information about a baby’s health and development from a sample of amniotic fluid. The test is most commonly done when the women is between 15 and 18 weeks pregnant. The test is used to determine whether the baby has genetic or chromosomal abnormalities. Amniocentesis has recently caused a great deal of controversy in the news at doctor offices in the United States. After comparing the pros and cons it is eminent that amniocentesis is an important test that should be offered to those pregnant women who desire to have it. Amniocentesis offers many advantages to the expecting mother. This test determines whether the unborn baby has genetic or chromosomal abnormalities. It identifies several hundred genetic disorders including some of the most common such as Down syndrome and Edward’s syndrome. It can also identify other genetic disorders such as Tay-Sachs disease, Huntington’s disease, Sickle cell disease, and cystic fibrosis. Other testing techniques such as ultrasounds pick up on these problems. Only amniocentesis is able to provide the information needed to diagnosis these problems in the womb. Amniocentesis can also indicate whether the baby is at risk for spina bifida and anencephaly. The test is more than 99 percent accurate in diagnosing these various conditions. It is the only test that can provide results which are accurate. Other important reasons to have the test include checking the well being of the baby. This is important if the mother has blood sensitization, such as Rh sensitization. Also the test can determine whether the baby’s lungs are mature enough for an early delivery if the mother appears to be in premature labor. As amniocentesis has become more popular more women opt for the test to ensure that their child is in perfect health. More than 95 percent of the high-risk women who have amniocentesis receive good news from their results. Only about 5 percent will be found to have a baby with a problem. This test is usually offered to those who are found to have a somewhat increased risk of having a baby with a chromosomal or genetic defect.

Mark Twains The Adventures Of Huckleberry Finn English Literature Essay

4. In Mark Twains The Adventures of Huckleberry Finn it is clear as to how the characters have been influenced by their environments. The narrative is set during a clip where bondage and racism are held as socially acceptable and justified by faith in some instances ; this is seen legion times throughout the novel. Although the two major characters Huck and Jim have come from and lived in the same environments, the fortunes of their lives are uncomparable. Society has conditioned Huck to accept bondage and racialist attitudes. Slavery has resulted in Jim ‘s attempts to seek his freedom, but besides his deficiency of instruction and to some degree his superstitious notion. Couple uses the environment environing Huck and Jim non merely to portray how it impacts their actions and beliefs, but besides to do a statement about the lip service, immortality, and unfairness found in civilised society at this clip. At the clip period this novel is set in, bondage is an mundane portion of life. As a reader, we see Huck invariably trying to decide the struggle within himself as he struggles between the dogmas of the South and his ain consciousness and morality. Huck ‘s position about the establishment of bondage is the result of what society has ingrained within him, he was born into it. Huck blindly accepts the societal and spiritual values that the Widow and Miss Watson insist he uphold until his ain witting interferes with what he has been taught. Whenever Huck can non follow societal regulations, he blames it on himself and fails to see any mistake in the regulations. He sees his male parent ‘s bibulous harangue in chapter 6, â€Å" †¦ but when they told me there was a State in this state where they ‘d allow that nigger ballot, I drawed out. I says I ‘ll ne'er vote once more†¦ I says to the people, why ai n't this nigga put up at auction and sold? – that ‘s what I want to cognize † ( Twain 117 ) . Huck hears his male parent ‘s words but does non denounce him because in his universe this position is the norm. Huck is an perceiver and he gives realistic word pictures of what he sees and Twain uses his narrative to exemplify the ailments of society. There are many times in the novel where Huck sees Jim more as a slave, a mere piece of belongings instead than a individual. In chapter 16, Huck begins to panic when he realizes the determination he has made to assist Jim towards freedom, â€Å" †¦ it made me all over trembly and hectic, excessively, to hear him, because I begun to acquire it through my caput that he was most free- and who was to fault for it? † ( 162 ) . Because he believes the values of society are just and merely, Huck feels that he is an confederate for the offense of non turning in Jim back to Miss Watson when he had the opportunity. He goes on to state, â€Å" I got so average and so suffering I most wished I was dead † ( 162 ) . In chapter 23, we see Huck ‘s attitude toward Jim Begin to alter, â€Å" He was believing about his married woman and kids, off up yonder, and he was low and homesick ; and I do believe he cared merely every bit much for his people as white folks does for thei r'n. It do n't look natural†¦ He was a mighty good nigga, Jim was † ( 204 ) . Huck is able to project aside the racialist values which he has grown up with. Here we see him believing for himself. What Huck sees as natural is that slaves do non care for and love their households the same manner as Whites do, but his sentiment is changed when he sees Jim. It is obvious that Huck has non associated with anyone who was non white and it is possible that he sees Jim as person who is rareness among African Americans due to the fact that he loves his household. As the novel progresses, Huck becomes more and more detached from society but non wholly. He and Jim sail down the Mississippi, making a universe of their ain and it is through these experiences that Huck ‘s friendly relationship with Jim grows and where the influences of the exterior universe are repressed to a certain extent. The best illustration of this is when Huck decides to compose the missive to Miss Watson stating her where Jim is, nevertheless his internal struggles are clearly seeable as he debates with himself whether or non he should make this. Before he precedes to compose the missive Huck says â€Å" And at last, when it hit me all of a sudden that here was the apparent manus of Providence slapping me in the face and allowing me know that my evil was being watched all the clip from up at that place in Eden, whilst I was stealing a hapless old adult female ‘s nigga that had n't of all time done me no injury†¦ † ( 238 ) . Huck still can non look to get away the impression that because Jim is a runaway slave helping in his attempts to get away is a wickedness. Although Huck can do his ain determinations, society ‘s rules still influence him greatly and after he writes the missive he even goes on to province that it was the first clip in his life he felt wholly â€Å" clean of wickedness † ( 239 ) . Religion is something that Huck does non clearly understand so his fright of the possible spiritual effects such as snake pits take precedency over his ain morality. However, instantly after composing the missive, Huck begins to believe about Jim and all the good he has done for him and makes a important determination, â€Å" All right, so, I ‘ll travel to hell- and tore it up. It was atrocious ideas, and atrocious words, but they was said † ( 239 ) . At this point we see that Huck denounces himself for his actions, but by making this he has in a manner rejected what society has instilled in him and established himself as an improbable hero. So as Huck ‘s universe alterations from civilized society to life on the Mississippi, from the influence of society at big to the influence of Jim, we can see how Huck besides changes. The Widow and Miss Watson introduced in chapter 1 can be seen as a representation of Southern society. They attempt to educate Huck, but he merely feels constrained by the regulations and ordinances they impose on him. Society besides fails to protect Huck from his opprobrious male parent as he is forced to travel unrecorded with Pap. All of these experiences contribute to Huck ‘s withdrawal from society and consequence in his disbelieving attitude of the universe. The idea of being sold down South and separated from his household prompts Jim to run off. Bing a slave, Jim is uneducated. For illustration when Huck is explicating to him that Frenchmen talk French he can non look to hold on the construct. In many ways he is like a kid. Jim has besides accepted the positions of his racialist milieus. He is convinced that the inequality and biass inkinesss face are rooted in truth. In chapter 36 it is clear that Tom is utilizing Jim to populate out his imaginativeness, â€Å" And told him how to maintain a diary†¦ He told him everything. Jim, he could n't see no sense in most of it, but he allowed we was white common people and knowed better than him ; so he was satisfied. Despite the manner Jim is being treated, in Jim ‘s head Huck and Tom are white so they must be right. Here, Jim is inactive and self-satisfied which merely emphasizes the subject of bondage in the novel. Couple uses the universe of the characters and how it influences them to supply a societal commentary on his pessimistic positions of humanity. The fresh exposes the jobs he saw in society including the immorality of bondage, spiritual lip service, and the weaknesss of society in general. Jim is treated cruelly by every character throughout the narrative. It is through Huck that bondage is presented as we see him fight between what is jurisprudence in society and what is morally right. The spiritual lip service is abundant from Miss Watson to the Phelps ‘s who have no concern over the establishment of bondage, yet claim to be good citizens. Twain makes it clear as to how racism can misinterpret the beliefs of those who impose bondage and the victims of it. When Huck is handed over to his male parent, this can be seen as Twain ‘s manner to notice on a society that gives whites the right to have other human existences which are considered belongings. A society that claims t o be morally merely and civilized can non warrant bondage.

Longevity

Whether it is or not people's decision how long they live is one of the most important debates nowadays. There are many factors that can affect someone's longevity, some of them are choices people make like smoking, drinking or keeping a healthy diet, but some other aspects Like socio-economic situation and genetic background may not be anyone's election. Penthouse this circumstances might affect the longevity of a certain person, this essay will argue that lifestyle choices are In fact the most relevant factor when It comes to life expectancy.Lifestyle choices like smoking and drinking, affect strongly a person's longevity. Penthouse not every smoking or drinking case ends In death, this lifestyle choices can lead to serious health Issues that can reduce the life expectancy of an Individual. A study held by L. Wilhelmina and other scientists, shows that there are many factors that can affect someone's longevity, and they conclude that non-smokers have a higher possibility of survivi ng.This is because smoking causes injuries in the immune, circulatory and respiratory systems and this further leads to diseases like anger and osteoporosis. But smoking is not the only threat to someone's health, drinking alcoholic beverages is extremely harmful, both mentally and physically, and can result with mortal consequences. According to Patrick M. Krueger, suicides, accidents, cancers and other diseases are the main causes of death in heavy drinkers. Drinking and smoking affect directly someone's life expectancy due to its health and mental consequences.In contrast, some socio-economic circumstances clearly impact on someone's longevity and lifestyle choices. Government interventions like the minimum wage, effect directly somebody's socio-economic situation, and economic instability can influence someone's lifestyle choices and longevity. For example, if the minimum wage decreases, and so does the price of fast food, a worker that earns a basic salary won ‘t be able to choose between fast food and healthy food because his budget only lets him spend in the cheapest food in the market.These can be In many ways someone's decision, penthouse aspects like the ones mentioned In the previous paragraph might Influence an Individual's choices. Obesity and sedentary can reduce someone's life expectancy. A study held by Kelly et al from The university Cambridge on the Impact of obesity In fife expectancy, predicted that overweight would reduce It by 0. 28 years. Longevity By militaries like socio-economic situation and genetic background may not be anyone's election. Say will argue that lifestyle choices are in fact the most relevant factor when it Penthouse not every smoking or drinking case ends in death, this lifestyle choices can lead to serious health issues that can reduce the life expectancy of an individual. Lets him spend in the cheapest food in the market. In countries like The United States income the lower the mortality, making it evident that income might be a method to identify the lifestyle situations, that lead to the health contrast within people of different economic groups (Marmot, 2002).On the other hand, overweight and the lack of physical activity alter negatively a person's life expectancy. These can be in many ways someone's decision, penthouse aspects like the ones mentioned in the previous paragraph might influence an individual's choices. Obesity and sedentary can reduce someone's life expectancy. A study held by Kelly et al from The University Cambridge on the impact of obesity in life expectancy, predicted that overweight would reduce it by 0. 28 years.

Ethics Internet companies essay

Ethics Internet companies essay Ethics Internet companies essay Ethics Internet companies essay[vc_row][vc_column][vc_column_text]Today, the emergence of information technologies and wider use of internet open wide opportunities for the emergence of online businesses. However, online companies face the problem of the poor regulation and shortage of organizational tool that would determine their business development, code of conduct and interpersonal relations within companies as well as company-customer relationships. In this regard, it is possible to suggest developing the organizational tool framework which lays the foundation to the effective business development of online companies.First, the company should introduce the code of ethics that regulates basic rules and norms of conduct of its employees between employees and between employees and customers. Top executives of the company should offer their personal example to make their subordinates to follow their lead. However, employees of the company will need ethical training that will teach them to resolve ethical dilemma and work within the ethical framework determined by the company that matches the company’s mission and vision as well as commonly accepted business standards of conduct.On the other hand, the online company will need the ethical committee to monitor and control the implementation and observation of rules of conduct determined by the code of ethics of the company. The ethical committee should involve representative of the management of the company, of employees and of customers. The ethical committee will conduct regular ethical audit to ensure that the code of ethics is working and employees and managers of the company follow rules of conduct established by the code.Thus, the online company will reach the high level of the organizational culture and succeed in its business development.[/vc_column_text][/vc_column][/vc_row]

The Dynamics Of Managing Diversity Essays

The Dynamics Of Managing Diversity Essays The Dynamics Of Managing Diversity Essay The Dynamics Of Managing Diversity Essay Work is a major determiner of mental wellness and societal integrating and that unfortunately favoritism can take to societal exclusion, unemployment and under-employment. This paper foremost identifies the beginnings of the Glass Ceiling and so defines it in relation to handicapped people. It goes on to place grounds for the being of the Glass Ceiling and the Glass Cliff for people with mental wellness troubles. It concludes with steps that could be put into topographic point to guarantee a flat playing field within the workplace and evaluates those steps. Taneja et Al ( 2009 ) supply inside informations in their paper, Empowerment from the Gender Perspective, as to who foremost coined the term glass ceiling and keep it was Katherine Lawrence and Marianne Schreiber of Hewlett Packard in 1979 who described how at that place appeared to be an obvious class of publicity within administrations, but in world adult females seemed to make a point where they were no longer able to progress. Harmonizing to Falk A ; Grizard ( 2005 ) the first mention to the glass ceiling in the printed imperativeness may hold been in a 1984 article in Adweek. The article written by Frenkiel ( 1984 ) profiled Gay Bryant, the so editor of Working Woman, as an of import, advanced businesswoman and quoted her as stating: Womans have reached a certain point. I call it the glass ceiling. They re in the top of in-between direction and they re halting and acquiring stuck. There is nt adequate room for all those adult females at the top. Some are traveling into concern for themselves. Others are traveling out and raising households. Taken from Frenkiel ( 1984 ) It was Hymowitz A ; Schellhardt ( 1986 ) nevertheless ; who ensured the term glass ceiling became a lasting component of the American linguistic communication with an article in the Wall Street Journal that described corporate traditions, patterns and biass that hindered or even prevented the patterned advance of adult females in administrations. As a consequence the U.S. Department of Labor set up a Glass Ceiling Commission in order to level the playing. In 1991 they issued a definition of it, saying that: The glass ceiling is a construct that betrays America s most precious rules. It is the unobserved, yet unbreachable barrier that keeps minorities and adult females from lifting to the upper rounds of the corporate ladder, irrespective of their makings or accomplishments. Glass Ceiling Commission ( 1995 ) Although the term ab initio referred to adult females in administrations who were unable to progress through publicity, in an article taken from Docstock.com, it extends the intension of the term and provinces that in economic sciences, it refers to situations where the promotion of a qualified individual within an organisation is halted at the lower places because of some signifier of favoritism, most normally sexism or racism, but besides describes the limited promotion of the handicapped, and aged. In an interview for Personnel Today, Millar ( 2004 ) discussed Civil Service statistics with Tim Loughton, Shadow Health and Children s Minister that identified an norm of merely 3.6 per cent of junior civil retainers were disabled with the figure dropping to 1.7 per cent for more senior places. Loughton ( 2004 ) stated that there was a glass ceiling in topographic point in the Civil Service for people with disablements and accused the Government of tokenism when it came to implementi ng handicapped enlisting policies. Tal et Al ( 2009 ) suggest that many persons with psychiatric disablements are unemployed or under-employed, with damaging effects for their lives and mental wellness. Although anterior research that stigmatization and favoritism contribute to this result, the exact extent of such employer behavior has remained mostly undetermined. Thorneycroft ( 2006 ) suggests the job can be broken down into three parts, ignorance, pigeonholing and favoritism. Ignorance Cultural beliefs about mental unwellness plus derogative images and contemptuous linguistic communication in the media, ensures society perceives mental unwellness as being an untreatable lunacy ( Allen 2010 ) . There is, hence, the demand to supply work co-workers with the cognition and apprehension of, the troubles and barriers people face in their workplace in relation to non merely mental illhealth, but for all disablements to guarantee ignorance is removed. Employers have antecedently been shown to keep negative attitudes toward mental unwellness ( Nicholas 1998 and Stuart 2006 ) maintain that holding a psychiatric diagnosing can besides earnestly limit calling promotion as employers are less likely to engage people with mental upsets into executive places. Research undertaken by Rosenheck et Al ( 2006 ) shows that people with psychiatric diagnosing are likely to be underemployed, in lower paying humble occupations or in occupations that are incommensurate with their accomplishm ents and involvements: Before I had bipolar upset, I was an electrical applied scientist. Manic depression did non take that off from me, I still have that cognition, those accomplishments and experience . Anon ( 1996 ) Mental unwellnesss can take many signifiers, merely as physical unwellnesss do. Mental unwellnesss are still feared and misunderstood by many people, but the fright will vanish as people learn more about them. Lai et Al ( 2001 ) states that one fundamental job is that disablement so frequently overshadows personal individuality. The individual who has an damage is lost to awareness and merely the damage itself is seen. There are many myths about mental unwellness and some of the common myths and truths are identified in Table No. 1 below: Table No. 1: Myths and Truths of Mental Illness Myth Truth Peoples with mental unwellness are violent and unsafe. The truth is that, as a group, mentally sick people are no more violent than any other group. In fact, they are far more likely to be the victims of force than to be violent themselves. Peoples with mental unwellness are hapless and/or less intelligent. Many surveies show that most mentally sick people have mean or above-average intelligence. Mental unwellness, like physical unwellness, can impact anyone regardless of intelligence, societal category or income degree. Mental unwellness is caused by a personal failing. A mental unwellness is non a character defect. It is an unwellness, and it has nil to make with being weak or missing will-power. Although people with mental unwellness can play a large portion in their ain recovery, they did non take to go sick, and they are non lazy because they can non merely snap out of it. Mental unwellness is a individual, rare upset. Mental unwellness is non a individual disease but a wide categorization for many upsets. Anxiety, depression, schizophrenic disorder, personality upsets, eating upsets and organic encephalon upsets. Taken From: hypertext transfer protocol: //www.cmha.ca When a individual is promoted into a place that is hazardous, hard with high degrees of duty where the likeliness of success is slender this is said to be the Glass Cliff . Ryan et Al ( 2007 ) from the Chartered Institute of Personnel and Development, suggests that although there have been legion literature undertaken in relation to publicity ( Greenwood, Schriner and Johnson, 1991 ) it has non paid much attending to what happens to professionals once they are beyond the glass ceiling. When set abouting interviews with high ranking professionals Ryan et Al ( 2007 ) found that those with a disablement found their occupations to be hazardous and unstable through a deficiency of support, and an overall deficiency of co-worker cognition in covering with people with disablements. Lai et Al ( 2001 ) undertook research into the stigma of mental wellness and identified that a demand for an addition in public consciousness and the demand for a alteration of focal point within the media industry was required. Consequences from Lai et Al ( 2001 ) shown below at Table No. 2, illustrates the negative position the media has on those with a mental wellness unwellness. Table No. 2: Perceived Contribution by Mass Media to Mental Illness Stigma Lai et Al ( 2001 ) Pigeonholing Rimmer ( 2010 ) explains that pigeonholing reduces people to belonging to a group which is identified by peculiar features. These features are seen to be fixed by nature for illustration, dyslexic people are stupid and those with a mental wellness unwellness are huffy, unsafe, scaring. Rimmer ( 2010 ) besides imparts that people are classified harmonizing to the norm and established system, those who do non suit go other Foucault ( op. cit. Oskala, 2005 ) characterized his work as a history of the different manners by which, in our civilization, human existences are made topics and identified 3 manners of objectification, spliting patterns, scientific categorization and Subjectification Research by Goffman ( 1963 ) into the societal brushs between normal and handicapped people shows that normal people frequently feel uncomfortable and unsure when interacting with individual who are disabled. Goffman ( 1963 ) contends that normals experience ambivalent feelings towards stigmatized persons and seek to avoid holding stigma spread to them by avoiding close association with a handicapped individual confirming Foulcault s Dividing Practices manner of objectification. Scheff ( 1966 ) applied the term mentally badly, to Labeling Theory and challenged common sentiment of mental unwellness by declaring that it is manifested entirely as a consequence of social influence. He argued that society positions certain actions as pervert and, in order to come to footings with and understand these actions, frequently places the label of mental unwellness on those who exhibit them. As mentioned earlier, due to a deficiency of cognition and the impact of stereotypes in the media, people are persuaded to judge those with a mental wellness trouble, peculiarly those with schizophrenic disorder, as unsafe and powerless to believe rationally ( Rethink 2010 ) . Peoples who suffer from a mental wellness trouble do non hold a positive ego image and endure from low ego regard. If a individual is told frequently plenty that they are non good, non lending or eldritch so it is possible they will get down to believe it, which implies that they are so active in the procedure of exteriorizing themselves. Directors need to get the better of a tabu over mental wellness issues. When asked what per centum of employees they thought might hold a mental wellness trouble in their on the job life, 71 per cent idea it would be less than 1 in 20 and 45 per cent said none at all. The existent figure is one in four in general and one in six in the workplace ( Rethink 2010 ) Discrimination The authorities s study of mental wellness and societal exclusion published by the societal exclusion unit in 2004, identified stigma and favoritism experienced by people with mental wellness jobs as the biggest barrier to societal inclusion doing it hard for people to work, entree wellness services, take part in their communities and bask household life: 83 % identified stigma as a cardinal issue, 55 % identified stigma as a barrier to employment and 52 % mentioned negative attitudes towards mental wellness in the community ( Rethink, 2010 ) Given the high degree of societal stigma attached to mental unwellness, it is non surprising so that people with disenabling mental upsets experience favoritism within the workplace. Much research ( Manning, 1996, Diksa, 1995, Nicholas 1998, Stuart 2006 ) has been undertaken that identifies employers have more negative attitudes about engaging workers with psychiatric disablements than approximately about any other group. Baldwin and Johnson ( 1998 ) studied disability-related employment favoritism by analyzing net incomes disparities. After they accounted for productiveness derived functions related to functional restrictions and other productivity-related single features, such as instruction, business, and parttime employment, big unexplained discrepancy in pay derived functions between people with and without disablements remained. Despite the increased Numberss of adult females both take parting in the workplace and accomplishing direction places the grounds is that, for the bulk, promotion to the really highest degrees is rare and that the glass ceiling still exists ( Meyerson A ; Fletcher 2000 ) . In relation to mental wellness troubles, many surveies have suggested that adult females are diagnosed with depression at twice the rate of work forces ( MIND 2005 ) and it is suggested this could be because adult females are more able to inquire for aid. Disclosure is debatable for workers with psychiatric disablements because of the hazard of favoritism. In a national study undertaken by Wahl ( 1999 ) of more than 1,300 persons with disenabling mental upsets, about a 3rd reported that after unwraping a mental unwellness they were turned down for a occupation for which they felt qualified. It is likely that many workers with psychiatric disablements fear that revelation will cut down their occupation chances and as mentioned earlier, holding a psychiatric diagnosing can earnestly restrict calling promotion. Although revelation is an issue, if more adult females are able to inquire for aid and therefore are unwraping their mental wellness troubles more so than work forces, this may be one of the many ground less adult females are in senior places, after all 11.2 % of the female population are sing mental wellness troubles at any one clip ( Cochrane 2010 ) . Non-disclosure could make an unanticipated Glass Cliff in that a individual with a mental wellness trouble is placed into a function that increases emphasis and hence the opportunities of failure are high. One piece of statute law that aims to forestall occupation favoritism is the Disability Discrimination Act ( DDA ) . Taken from www.direct.gov.uk, the ( DDA ) defines a individual as handicapped if they have a physical or mental damage that has a significant and long-run inauspicious consequence on a individual s ability to transport out normal daily activities. Normal daily agencies things that people do on a regular or day-to-day footing, such as reading, composing, utilizing the telephone, holding a conversation and traveling by public conveyance. Long-term normally means the damage should hold lasted or be expected to last at least a twelvemonth. Significant means non minor or fiddling. Direct favoritism happens when a handicapped individual is treated less favorably than a non-disabled individual whose relevant fortunes are the same or non materially different. For case, an employer turns down an applier for a occupation who has a mental wellness trouble. This is because of negative stereotyped, premises about the effects of the status without mention to the person concerned. Another illustration could be an employer holding a cover prohibition on using person with a peculiar disablement. Section 141 of the Mental Health Act forces MP s to give up their seats if they are sectioned for six months or more and the jurisprudence still prevents those with mental wellness troubles from functioning on a jury ( Allen 2010 ) . Employers are required to do sensible accommodations to workplaces and occupations for people with disablements to guarantee they have equal chances ; failure to set about sensible accommodations is prejudiced. Some of those sensible accommodations could be altering working hours, for illustration presenting flexi-time or leting clip off for intervention. Research undertaken by Greenwood et Al ( 1991 ) identified the per centum of employers who rated certain groups either inferior to or slightly below norm and they are shown below at Table No. 3. The consequences epitomises the social attitudes in relation to ignorance, pigeonholing and favoritism: Table No. 3: Research Consequences Percentage Group 96 % Serious emotional upset 87 % Blindness 84 % Cerebral paralysis 81 % Mental Health 81 % Quadriplegia 69 % Deafness 68 % Learning troubles 64 % Back complaint 62 % Epilepsy 59 % Paraplegia 56 % Mild emotional upset 36 % Amputation of one leg 15 % Diabetess 7 % Peptic ulcer Taken signifier: Greenwood et Al ( 1991 ) The roots of modern antidiscrimination statute law are in a societal theoretical account of disablement that views disablement as the consequence of society s attitudinal and inhospitable structural barriers, instead than the consequence of that individual s physical or mental damage. Employment policies that have implemented a societal theoretical account of disablement in the chief should place the demand to take the favoritism of handicapped workers in enlisting, keeping and publicity and guarantee employers make sensible accommodations to help handicapped employees. Measures to Make a Level Playing Field Diversity preparation for all staff is aimed at supplying consciousness of single differences. For a company to hold competitory advantage it is indispensable all members of staff be allowed to accomplish their full potency. Awareness based diverseness preparation is aimed at supplying directors and employees with the cognition of diverseness issues and allows them to analyze premises that could take to pigeonholing. The theoretical account is shown below at Figure No. 1. Figure No. 1: Awareness-based diversity-training theoretical account More effectual Improved morale Improved organizational Multicultural interaction Greater productiveness competitory place Increase cognition, Foster appropriate attitudes Eliminate stereotyping Awareness and sensitiveness and premises Information diversity- Training programmes Taken from: Carnevale, A. P. A ; Stone, S. C. ( 1994 ) Not merely must direction systems and calling development systems be adapted suitably, organizational civilization must besides be adapted. Awareness based diverseness preparation should be the starting point for the development of an administrations diverseness programme and should make effectual intercultural interaction. This in bend Fosters improved morale which in bend creates the result of an enhanced competitory place for the company. The theoretical account is non without unfavorable judgments ; Geber ( 1990 ) suggests the theoretical account does non supply the accomplishments to enable participants to move on the freshly acquired cognition. The accomplishments based diverseness developing theoretical account is chiefly used in concurrence with the cognition based theoretical account and ensures transverse cultural apprehension and identifies why co-workers from different civilizations act the manner they do and is shown at Figure No. 2 below: Figure No. 2: Skill-based Diversity-Training Model More effectual Improved morale Improved organizational Multicultural interaction Greater productiveness competitory place Increased creativeness Increase cognition, Build new diverseness Reinforce bing Inventory Awareness and sensitiveness related accomplishments diverseness related accomplishments skill edifice Foster appropriate attitudes methodological analysiss Skill orientated diverseness Training programmes Taken from: Carnevale, A. P. A ; Stone, S. C. ( 1994 ) Equal chances and diverseness direction attacks demonstrate different ways of accomplishing alteration. The equal chances approach focuses more on positive action, supervising the Numberss employed or so promoted in under-represented groups but topographic points less accent on cultural alteration and the demand to run into organizational aims. Legislation often influences administrations to develop equal chances policies which are disseminated by human resource sections. Diversity direction, nevertheless, emphasises an organizational civilization where everyone, and particularly directors, are responsible in gaining the potency of all employees. The issue with an Equal chances attack is that it presumes attitudes will alter one time a individual with a disablement, for illustration, has demonstrated that they are able to execute. Equal Opportunities does non take into consideration the aims and ends of the company. Diversity direction has its jobs besides, in that it is complicated. Lorbiecki and Jack ( 2000 ) remark on whether diverseness can be managed at all. Is one attack better than the other? Ford ( 1996 ) Argues that equal chances policy and diverseness options have to be mutualist if they are to recognize their possible as organisational development tools. Further differences in the two attacks can be seen at Table No. 4 below: Table 4: Diversity Management and Equal Opportunities: Different Approachs Diversity Management Equal Opportunities Ensures all employees maximize their possible and their part to the organisation Dressed ores on issues of favoritism Embraces a wide scope of people: no 1 is excluded Focuss chiefly on adult females, cultural minorities and people with disablements Dressed ores on issues of motion within an organisation, the civilization of the administration, and run intoing concern aims Topographic points less accent on cultural alteration and meeting concern aims Is the concern of all employees, particularly directors Concerns chiefly forces and human resource practicians Does non answer on positive / affirmatory action Relies on positive action Taken from: Carnevale, A. P. A ; Stone, S. C. ( 1994 ) The Two Ticks Disability Symbol is a authorities enterprise that employers can utilize to demo their committedness to using handicapped people. Those companies that use the symbol commit themselves to the following five confidences identified at Table No. 5 below: Table No. 5: Two Tick Guarantees A guaranteed occupation interview for handicapped appliers Regular audience with handicapped employees Retaining employees if they become handicapped during their employment Bettering cognition about disablement for cardinal employees Reviewing these committednesss and be aftering in front Taken from: Torrington et Al ( 2005 ) These warrants provide a big measure frontward for a flat playing field for those with a disablement but need to be monitored to guarantee work is come oning. Unfortunately at present as Dibben et Al ( 2001 ) note, the symbol appears to hold merely a limited consequence on support for handicapped employees or possible employees. Bettering cognition in relation to disablement is cardinal in taking stigma, pigeonholing and favoritism ; it has been the most highlighted cause of workplace favoritism throughout the research undertaken for this piece of work. The authorities has late introduce an amendment to the Equality Bill which should set a halt to prejudiced employment patterns which deter many people with mental wellness jobs from using for occupations. The measure stops employers from inquiring occupation campaigners about their wellness until after a occupation offer has been made ( Rethink 2010 ) Evans ( 2001 ) argues that it is possible to enroll the best individual for the occupation, provided that determinations are based, as they ever should be, on solid grounds of aptitude and ability. He goes on to province that sensible accommodations to workplaces and conditions of work to make a flat playing field rarely turn out hard or expensive to implement. Reasonable accommodations could include acquiring new or accommodating bing equipment such as desks and chairs, modifying instructions to larger print or holding hearable every bit good as ocular dismay systems. These are proactive attacks that would profit all non merely handicapped workers. To guarantee sensible accommodations can be provided it is indispensable that employers create a scene and civilization whereby workers feel able to uncover a disablement and guarantee that this confidential information is non divulged to unneeded individuals. Decision Diversity preparation is indispensable and in order to change organizational civilization and attitudes in relation to, non merely people with mental wellness troubles, but all employees the support from senior direction should be enlisted. Training should be compulsory and should non be avoided and hence should be introduced within the company s initiation procedure. Mentoring could besides be introduced but with cautiousness as without equal consciousness and preparation for staff, negative sentiments could originate. Most of all, whatever attack is adopted, effectual monitoring should be undertaken to guarantee advancement is being made. The one individual who is able to place whether their workplace has a flat playing field in relation to disablement is the handicapped individual and therefore communicating with handicapped people is required when policies are being drafted to seek to extinguish prejudiced actions.

Consultation For Leaders In Management - Smart Custom Writing Samples

Consultation For Leaders In Management - Smart Custom Writing Letter of CreditAssess the place of Letters of Credit in the International commercial arena What is International Finance Management? The international financial management of a trust/company is concerned with management of its funds which reflects how efficiently the company is managing its funds. The overall objective of all business is to secure funds at low cost and their effective utilisation in the business for a profit. The funds so utilised must generate an income higher than the cost of procuring them. Here it is to be noted that all companies need both long-term and short-term capital. The finance manager must therefore keep in view the needs of both long-term debt and working capital and ensure that the business enjoys an optimum level of working capital and that it does not keep too many funds blocked in inventories, book-debts, cash, etc. The capital structuring and average cost of capital for the company should also be examined.[1] Financial analysis is analysis of financial statements of a company to assess is financial health and soundness of its management. "Financial Statement analysis" involves a study of the financial statements of a company to ascertain its prevailing state of affairs and the reasons therefore. Such a Study would enable the public and investors to ascertain whether one company is more profitable than the other, and also to state the causes and factors probably responsible for this[2]. Letters of Credit In a document, the bank agrees to honor a draft drawn on the importer, provided the bill of lading and other details are in order. Obviously, the local bank will "not issue a letter of credit unless it feels the importer is creditworthy and will pay the draft. The letter of credit arrangement pretty much eliminates the exporter's risk in selling goods to an unknown importer in another country. Illustration of a Confirmed Letter The arrangement is strengthened further if a bank in the exporter's country confirms the letter of credit. A New York exporter wishes to ship goods to a Brazilian importer located in Rio de Janeiro. The im ­porter's bank in Rio regards the importer as a sound credit risk and is willing to is ­sue a letter of credit guaranteeing payment for the goods when they are received. Thus, the Rio bank substitutes its credit for that of the importer. In fact, the deal is mutually between the Rio bank and the New York exporter- the beneficiary of the letter of credit,. The exporter may wish to work through her bank, because she has little knowledge of the Rio bank. She asks her New York bank to confirm the Rio bank's letter of credit. If the New York bank is satisfied with the creditworthiness of the Rio bank, it will agree to do so. When it does, it obligates itself to honor drafts drawn in keeping with the letter of credit arrangement.[3] Thus, when the exporter ships the goods, she draws a draft in accordance with the terms of the letter of credit arrangement. She presents the draft to her New York bank and the bank pays her the amount designated, assuming all the conditions of shipment is met. As a result of this arrangement, the exporter has her money, with no worries about payment. The New York bank then forwards the draft and other documents to the Rio bank. Upon affirming that the goods have been shipped in a proper manner, the Rio bank honors the draft and pays the New York bank. In turn, it goes to the Brazilian importer and collects from him once the goods have arrived in Rio and are delivered. Trade Facilitation Rather than extending credit directly to an im ­porter, the exporter relies on one or more banks, and their creditworthiness is sub ­stituted for that of the importer. The letter itself can be either irrevocable or revoca ­ble, but drafts drawn under an irrevocable letter must be honored by the issuing bank. A revocable letter makes sure for an arrangement for pay ­ment of cash. However we cannot guarantee that the draft will be paid. Most letters of credit are irre ­vocable, and the process described assumes an irrevocable letter. The three documents described- the draft, the bill of lading, and the letter of credit- are required in most international transactions. Established procedures ex ­ist for doing business on this basis[4]. Process of the Letter of Credit transaction and the problems associated with enforcement of parties’ rights in a conflict situation.    Expansion and Contraction    Countertrading In addition to the documents used to facilitate a standard transaction, more customized means for financing trade. One method is the countertrade. Countertrade agreement is where the selling party accepts payment in the form of goods as opposed to currency. When exchange restrictions and other preclude payment in hard currencies, such as dollars and yen, it may be to accept goods instead. These goods may be produced in the country .But this need not be the case. Countertrading is nothing more than anything.-l needs to be mindful that there are risks in accepting goods in lieu of a hard facts. Quality and standardization on receipt may differ from what was there. There may be volatility in prices, if indeed a viable market exists at all. All the method involves risk, countertrade associations and consultants, together other infrastructure, have developed to facilitate this means of trade. Factoring . The factor assumes the credit risk, so the exporter is assured of being true. The typical fee is around 2 percent of the value of the overseas shipment. But receivable is collected, a cash advance is possible for upward to 90 percent a shipment's value. For such an advance, the exporter pays interest, and this is   and above the factor's fee. Most factors will not do business with an exporter . less the volume is reasonably large, say at least $2 million in annual transactions,   Also, the factor can reject certain accounts that it deems too risky For accounted are accepted, the main advantage to the exporter is the peace of mind that credit   entrusting collections to a factor with international contacts and experience. Forfeiting Forfeiting is a means of financing trade which resembles factoring. An expo who is owed money evidenced by a longer-term note, as opposed to sell the note to a financial institution at a discount. The discount reflects I length of time the note has to maturity as well as the credit risk of its drawer usually the note is for 6 months or longer and involves larger transactions. An institution would not engage in forfeiting a $9,600 note but might if it were $180,000. [5]    Expansion abroad is undertaken to go, into new markets, acquire less costly pro ­duction facilities, and secure raw materials. Foreign investment different from domestic investment, as there are a number of reasons left behind that. Taxation is different, and there are risks present in po ­litical conditions. A company faces three types of risk in its foreign operations: translation exposure, trans ­actions exposure, and economic exposure. Changes in exchange rates cause translation exposure and its change in accounting income and balance sheet statements. Transactions exposure relates to settling a particular transaction, like open account credit, at one exchange rate when the obligation was booked at another. Economic exposure has to do with the impact of changing exchange rates on the existing balance sheet of a foreign subsidiary and on the expected future repatriated cash flows. Two frameworks were presented for measuring the degree of eco ­nomic exposure. The first aggregated the indi ­vidual exposure coefficients for all balance sheet items.[6] The second measured the degree of net exposure for expected future cash flows. This was net of any natural hedge, where local cur ­rency margins adjust naturally to offset a change in exchange rates. A natural hedge de ­pends on the degree to which prices and costs are globally determined or domestically deter ­mined. A relationship can be plotted between the value of repatriated cash flows and the ex ­change rate. The direction of the line and its steepness tells us whether or not we are hurt if the foreign currency appreciates (depreciates) in value and the degree of exposure. Net expo ­sure is that which remains after any natural hedge.[7] Using several protective devices, a company can protect against any net exposure. If the expo ­sure is short-term in nature, it can adjust intercompany accounts in what is known as an operating hedge. For longer-term exposure, it can undertake a hedge by financing in differ ­ent currencies. The major sources of interna ­tional financing are commercial banks, discounted trade drafts, Eurodollar loans, and in ­ternational bonds. The last includes Eu ­robonds, foreign bonds, floating-rate notes linked to LIBOR, currency-option bonds, and multiple-currency bonds. Eventually, we can see that there are currency hedges, may include, futures contracts, forward contracts, currency swaps, cur ­rency options etc. For the first, one buys a forward contract for the exchange of one procedure for another at a specific future date and at an exchange ratio set in advance. For this protection, there is a cost that is determined by the difference in the forward and spot exchange rates. Currency futures contracts are like forward contracts in function, but there are differences in settlement and other features. Currency options afford protection against "one-sided" risk. Fi ­nally, currency swaps are an important longer-term risk-shifting device.    There are several theories provide a better understanding of the relationship be ­tween interest rates, inflation, and rate of exchange. Purchasing power parity is the idea that a basket of goods should sell at the same price internationally, after factoring into account ex ­change rates. Relative inflation has an impor ­tant influence on exchange rates and on rela ­tive interest rates. Interest-rate parity suggests that the difference between forward and spot currency exchange rates can be explained by differences in nominal interest rates between two countries. Three principal documents are involved in international trade. The draft is an order by the exporter to the importer to pay a specified amount of money either upon presentation of the draft or a certain number of days after pre ­sentation. Translation Exposure Translation exposure relates to the accounting treatment of changes in exchange rates. State ­ment of the Financial Accounting Stan ­dards Board deals with the translation of for ­eign currency changes on the balance sheet and income statement. An American company must determine a func ­tional currency for each of its foreign sub ­sidiaries under those mentioned rules, If the subsidiary is a stand-alone op ­eration that is integrated within a particular country, the functional currency may be the lo ­cal currency; otherwise, it is the dollar where high inflation occurs the functional currency must be the dol ­lar regardless of the conditions given.    The functional currency used is important because it determines the translation process. Moreover, translation gains or losses are not reflected in the income statement, but rather are recognized in owners' equity as a translation adjustment. The fact that such ad ­justments do not affect accounting income is appealing to many companies. If the functional currency is the dollar, however, this is not the case. Gains or losses are reflected in the income statement of the parent company using what is known as the temporal method. In general, the use of the dollar as the functional currency re ­sults in greater fluctuations in accounting in ­come, but in smaller fluctuations in balance sheet items than does the use of the local cur ­rency. Let us examine the differences. Differences in Methods With the dollar as the functional currency, bal ­ance sheet and income statement items are cat ­egorized as to historical exchange rates or as to current exchange rates. Cash, receivables, lia ­bilities, sales, expenses, and taxes are trans ­lated using current exchange rates[8], whereas in ­ventories, plant and equipment, equity, cost of goods sold, and depreciation are translated at the historical exchange rates existing at the time of the transactions. This differs from the situation where the local currency is used as the functional currency; here all items are translated at current exchange rates. To illustrate, a company we shall call Richmond Precision Instruments has a sub ­sidiary in the Kingdom. At the first of the year, the exchange rate is 8 to the dollar, and that rate has prevailed for many years. During the year however, it declines steadily in value to 10 to the dollar at year end. But the rate of exchange comes to 9. It shows the balance sheet and the income statement for the foreign subsidiary at the beginning and at the end of the year and the effect of the method of transla ­tion.    The oppo ­site would occur in our example if the liso in ­creased in value relative to the dollar. We see that there is substantially more change in total assets when a local functional currency is used than when a dollar functional currency is employed. In our example, sales are adjusted by the average exchange rate that prevailed during the year for both accounting methods. For column 4, local functional currency, all cost and expense items are adjusted by this exchange rate[9]. For the last column, dollar functional cur ­rency, cost of goods sold, and depreciation are translated at historical exchange rates whereas the other items are translated at the current average rate. We see that operat ­ing income and net income are larger when the local functional currency is used than when the functional currency is the dollar. For the latter method, the translation gain is factored in, so that net income agrees with the change in re ­tained earnings from 12/31/xl to 12/31/x2. W e see that this change is $845 - $750 = $95. In contrast, when the functional currency is local, the translation adjustment occurs after the in ­come figure of $111. The adjustment is that amount, - $176, that, together with net income, brings the liability and net worth part of the balance sheet into balance. This amount then is added to the sum of past translation adjust ­ments to obtain the new accumulated transla ­tion adjustment figure that appears on the bal ­ance sheet. As we assume past adjustments total zero, this item becomes - $176. Thus, the translation adjustments far in two methods are in opposite directions. Shot the liso increase in value relative to the data the effect would be the reverse of that illus ­trated: Operating income would be higher. Implications Because translation gains or losses are not re ­flected directly on the income statement; it supported operating income tends to fluctuate when the functional currency is local when it is the dollar. However, the balance sheet items is increased, o the translation of all items by the current change rate. Because many corporate fives are concerned with accounting FASB No. 52 is popular, as long as qualifies for a local functional currency ever, this accounting method also has its backs. For one thing, it distorts the sheet and the historical cost numbers over, it may cause return on asset and other measures of return to be less.    RISK MANAGEMENT AND WEALTH MAXIMISATION    Here the techniques for managing financial risks, in particular those that arise more prominently in the context of international finance are being discussed. The above discussion of the impact of risk on the value of the firm gives rise to a very important and interesting question: what should be the attitude of the firm's management regarding firm-specific risks? It appears that since these risks are diversifiable, they are not "priced" by the investors, that is, they do not affect the expected rate of return demanded by the investors- the discount rate. Why then should the firm spend resources to insure against these risks? Even if certain risks are systematic in the sense that they affect almost all firms adversely, it is not clear hedging such risks necessarily adds to shareholder value.[10] Risks can be hedged only at a cost since the party to whom the risk is transferred will demand compensation for bearing the risk. Thus, while it is true that increase in energy costs will ha ve an adverse impact on almost all firms, in an efficient market, the compensation that has to be paid for bearing this risk would just equal the increase in the value of the firm resulting from eliminating this risk; on balance the firms’ shareholders will neither rain nor los[11]e.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Risks arising out of fluctuations in exchange rates, interest rates and commodity prices are pervasive, It is, they affect most firms; however they affect different firms in different ways and are therefore idiosyncratic.[12] Finally, even if the irrelevance argument is not found to be convincing, the well-known Modigliani-Miller analysis of a firm's optimal capital structure offers another argument against hedging. In a world of no taxes, no transactions costs and no information asymmetries, they demonstrated that a firm's financing policy does not matter as long as it does not affect its investment policy. If some shareholders are unhappy with the particular debt-equity structure adopted by the firm, they can achieve whatever leverage they de ­sire by trading on their own account. The same argument can be extended to hedging risks such as ex ­change rate risks. A firm which exports to the United States and has dollar receivables can hedge these with forward sales of dollars against rupees; but if its shareholders can achieve the same result on their own (by taking similar but smaller positions in the dollar-rupee forward market), hedging by the firm will add no shareholder value. If capital markets are perfect, individual investors, in particular a firm's share ­holders can replicate any financial strategy adopted by the firm. In such a world active risk management policy cannot add value. In practice, we find that firms do expend considerable amount of resources- managerial time and money- in an attempt to hedge firm-specific risks. For instance, they avoid highly risky investment projects, purchase insurance against product liability suits, enter into forward contracts in foreign ex ­change, and specific commodities and so forth. Is there a rationale for these actions? In addition to the "irrelevance of unsystematic risks" or "shareholders can do it themselves" arguments against hedging, it has also been argued that since financial markets are efficient, it makes little difference in the long run whether and what kind of risk management posture a firm adopts. This means that with efficient markets it would not matter in the long run whether a firm follows an active hedging policy, a purely passive strategy of hedging all risks at all times, or a policy of no hedging at all. Note however that the hypothesis of efficiency of financial markets is far from firmly established. If active risk management by a firm adds shareholder value it must be (i) because it alters the firm's cash flow in a way which is beneficial to the shareholders even after meeting the cost of hedging and (ii) the firm can achieve this at a lower cost than what the shareholders would have to incur if they did it on their own. This is possible in the presence of some capital market imperfections which are assumed away by the Modigliani-Miller theorem. With reference to the valuation equation, hedging can increase shareholder wealth both by influencing future cash flows and by reducing the discount rate at which these cash flows are discounted. In general it is true that the former effects stronger though there can be circumstances under which hedging can reduce the expected return investors demand from a particular firm[13]. One of the most cogent arguments for hedging by the firm has been presented by Froot et al (1994). They not only provide a rationale for hedging as such but also put forward an explanation as to why selec ­tive or discretionary hedging rather than 100 per cent hedging might be an optimal policy under certain conditions. The main thrust of their argument can be summarized as follows: Firms enhance shareholder wealth- create "corporate value"- by making good investments. "Invest ­ments" here means not only physical plant and equipment but also RD, product development, mar ­ket investments such as advertising and promotion and so forth.[14] THE GLOBAL FINANCIAL MARKET The last two decades have witnessed the emergence of a vast financial market straddling national boundaries enabling massive cross-border capital flows from those who have surplus funds and are in search d high returns to those seeking low-cost funding. The phenomenon of borrowers, including governments, one country accessing the financial markets of another is not new; what is new is the degree of mobility d capital, the global dispersal of the finance industry, and the enormous diversity of markets and inst which a firm seeking funding can tap.    THE LETTER OF CREDIT MECHANISM   In such a case, the opening bank "accepts" the draft and it becomes A Banker's Acceptance: The exporter can get immediate payment by discounting the accepted draft either with the opening bank, o with his own bank or by selling the acceptance in the market'. Financing is thus provide* by the bank which discounts the draft or by a money market investor who buys the acceptance. (With sigh drafts, the importer's bank may provide credit to the importer as a part of their ongoing business relationship). To cater to the wide variety of transactions and customers, different types of letters of credit have evolved. A Revocable L/C is issued by the issuing bank and contains a provision that the bank may amend or cancel the credit without the approval of the beneficiary. An Irrevocable L/C cannot be so amended or cancelled without the exporter's prior approval. A Confirmed, Irrevocable L/C contains an extra protection; in addition to the issuing bank's commitment, a Confirming Bank adds its own undertaking to pay provided a] conditions are met. The confirming bank (which may be but need not be the same as the advising bank will pay even if the issuing bank cannot or will not honor the exporter's draft. A Revolving L/C is use when the exporter is going to make shipments on a continuing basis and a single L/C will cover several shipments. A Transferable L/C permits the beneficiary to transfer a part or whole of the credit in favor of one or more secondary beneficiaries. This type of L/C is used by trader exporters who act as middlemen on recourse basis. The ultimate holder of the notes than presents them to the bank at which they are pay ­able, as they fall due.[15] Traditionally, Forfeiting used to be a form of fixed rate, medium-term funding, but over time Forfeiters have become very flexible and are willing to offer terms to suit the needs of their customers. Some Forfeiting houses will accept paper with maturities up to ten years while in other cases it may be as short as 180 days. The secondary market for the paper generally ranges between one and ten years, depending upon the reputation of the importer, the country to which the importer belongs and the reputation of the bank providing the guarantee. Normally Forfeiters will ensure that the importer, not the exporter bears the cost of financing. That is, the face value of the notes is such that after applying the discount, the exporter gets paid what he would normally charge for cash payment. However for competitive reasons some exporters may choose to ab ­sorb some of the financing cost to make the transaction more attractive to the importer. Charges depend on the market interest rates for the currency of the underlying contract and on the per ­ceived credit risks related to the importer, his country and the credit rating of the availing (or guaranteeing) bank. The interest cost is made up of the following components: (1)   The Forfeiter’s refinancing costs benchmarked to the cost of funds in the relevant Euromarkets seg ­ment applicable to the average life of the transaction. For a five year deal, for example, repayable by ten semi-annual equal installments, LIBOR rate applicable for 2.75 years would be used. (2)   A margin or spread for covering the political, commercial, and transfer risks attached to the availed/ guarantor. It varies from country to country, and guarantor to guarantor[16]. (3)   Some additional charges such as interest for "grace period" granted to the importer and a commit ­ment fee when necessary. The whole transaction can be processed quite fast. Many Forfeiters claim that they take no more than two days after the exporter presents all the proper documents. Buyers' Credits are a form of Eurocurrency loans designed to finance a specific transaction involving import of goods and services. The importer works out a deferred payment arrangement with the lending bank which the bank treats as a loan. [17] Traditionally, Forfeiting used to be a form of fixed rate, medium-term (one to five years) funding, but over time Forfeiters have become very flexible and are willing to offer terms to suit the needs of their customers. Some Forfeiting houses will accept paper with maturities up to ten years while in other cases it may be as short as 180 days. The secondary market for the paper generally ranges between one and ten years, depending upon the reputation of the importer, the country to which the importer belongs and the reputation of the bank providing the guarantee. Normally Forfeiters will ensure that the importer, not the exporter bears the cost of financing. That is, the face value of the notes is such that after applying the discount, the exporter gets paid what he would normally charge for cash payment. However for competitive reasons some exporters may choose to ab ­sorb some of the financing cost to make the transaction more attractive to the importer.[18] Charges depend on the market interest rates for the currency of the underlying contract and on the per ­ceived credit risks related to the importer, his country and the credit rating of the analyzing (or guaranteeing) bank. The interest cost is made up of the following components: (1)   The Forfeiter’s refinancing costs benchmarked to the cost of funds in the relevant Euromarkets seg ­ment applicable to the average life of the transaction. (2)   A margin or spread for covering the political, commercial, and transfer risks attached to the availed/ guarantor. It varies from country to country, and guarantor to guarantor. (3)   Some additional charges such as interest for "grace period" granted to the importer and a commit ­ment fee when necessary.    Bibliography A.  Ã‚  Ã‚   Articles/Books/Reports Kraus, M.W.; Keltner, D. (2008), "Signs of Socioeconomic Status Barro, Robert (1979) "On the Determination of the Public Debt", Journal of Political Economy, Vol 87, pages 940-71. Barro, Robert (1999) "Notes on Optimal Fund Management", Harvard University, May2006 Dornbusch, Rudi (2001) 'A Primer on Emerging Market Crises', MIT, January. Leong, Donna (1999) " Fund Management: Theory and Practice", HM Treasury Occasional Paper. Boushey, Heather and Weller, Christian. (2005) â€Å"What the Numbers Tell Us.† Pp 27-40. Demos. B.  Ã‚  Ã‚  Ã‚   Cases Lucas, Robert and Nancy Stokey (1983) "Optimal Fiscal and Monetary Policy in an Economy without Capital", Journal of Monetary Economics 12, pp. 55-93. C.  Ã‚  Ã‚  Ã‚   Legislation Missale, Alessandro (1997) "Managing the Public Fund: The Optimal Taxation Approach", Journal of Economic Surveys Vol 121 No.3.

Economics of Immigration Research Paper Example | Topics and Well Written Essays - 1250 words

Economics of Immigration - Research Paper Example One of the most important reasons as to why I chose this topic therefore is to understand the dynamics behind the economic impact of immigrants on the economy. The reason why I m choosing this topic is based on the assumption that the flow of qualified, skilled as well as unskilled labor actually contribute towards the economic progress of any country. The typical topic of my paper therefore is to assess the impact of Mexican immigrants on the economy of US. One of the major sources in this regard is the work done by Robert J Shapiro on the impact of immigration on the wages of the American workers. Though this work is not specific to Mexican immigrants however, it provides a general overview of the impact of immigration on the economy. Empirical and Theoretical Evidence There are many studies which have either supported the role of immigrants in any economy or rejected their impact on the economy. Shapiro’s study suggest that less than 57% immigrants come from Mexico or Latin American countries therefore making Europe and Asia are the major areas from where the recent immigrants are migrant towards America. (Shapiro). It is however, important to note that the major influx of immigrants in American came during 1881 and 1924 when more than 25 millions people immigrated to America for better future and new prospects. However, this flow was restricted after that period and due to changes in the immigration laws, the new flow of immigrants started to emerge after 1965. Since the last decade of 20th century and in the first decade of 21st Century, America is believed to have received more than 1 million immigrants mostly from Mexico and other Latin American countries. (Bodvarsson and Berg) The evidence of the economic earning of the immigrants in US showed somewhat erratic results as during 1970s’ an ordinary immigrant, on average, earned 1 % more than the native citizens however, this trend shifted during 1990s when natives were earning almost 15% hig her than the immigrants. This decline in the wage rates and earnings of the individuals therefore also reignited the long debate as to whether the immigrants should be allowed to enter into the country. This was owing to the fact that lower wages demanded by immigrants also lowered the wages for the native citizens. (Borjas) Some studies suggest that the immigrants tend to cluster themselves in certain geographical locations and live in groups. It was estimated that during 1990, more than 70% of the population of the immigrants lived only in six different States of US. This concentration of immigrants therefore also gives rise to the unique interpretation of the fact that immigrants tend to concentrate themselves in regions with most prospects to get jobs or related work. Studies however, also show that due to this concentration, the overall impact of the immigrants on the wage rates for the native citizens is relatively small. Though there is a strong correlation between the wage r ates of both however, this correlation is showing relatively small differentials in the wage rates of the immigrants as well as the native citizens. (Borjas, 2001) There are also two important perceptions about the immigrants and their impact on the economy. The firms or producers view

NASA Essay Example | Topics and Well Written Essays - 1000 words

NASA - Essay Example These are all good things but they do not necessarily bring about good results. The case study shows that the administrators and the systems need to be geared to solving real problems, and not just sustaining the system itself. There is no point in having an excellent health and safety system, for example, if it the accidents still happen and people still lose their lives. Another key role of public administration is to decide what needs to be done, and plan for that. Wilson’s comparison of the French and German armies at the start of World War 2 shows that it is possible to have excellent organizational systems, with everything working to plan, and yet, in the case of the French, have a plan that is not suited to the particular problems facing the organization. This means that public administration which is strong is not enough. It has to be facing the right direction and aiming for the right goals so that it can be effective at bringing about the desired outcomes. In some pu blic organizations there are very large resources devoted to the operation and so it is crucial that the senior teams think through very carefully what the priorities are, and what kind of change needs to be faced in the future. Simply maintaining the procedures that have always worked in the past is not enough. This may have been enough before, but because there are many variables in society, and because things change unexpectedly, an effective public administration needs to be flexible and able to take on board new ideas all the time. The example of the German army, and of some school head teachers, shows that highly committed individuals who can manage teams are an essential part of an effective administration. There has to be an ability to keep to an overall plan, but at the same time some small group independent thinking and action is absolutely vital. Public administration is often criticized because it is too slow moving, and over cautious. Society needs an administration tha t can respond quickly to crisis, and can break through all the red tape to take decisive action when there is a real threat. In the Centralia case study it is clear that the administrators all kept within their own narrow boundaries, and no-one stepped out to demand immediate and decisive action. Society needs this kind of leadership in public administration to identify crisis areas and respond immediately. Public administration has a very important role in society because it adds a professional dimension to community activities. Someone has to have a view of the big picture, and someone has to ensure that all the different branches of activity in society meet together for the good of all. I think Wilson’s description of the German army is a good one, because it shows that discipline and order can be matched with innovation and independent thinking. If everything was left to private individuals and companies, then there would soon be chaos and exploitation of the weakest memb ers of society. Public administration sets the standard for fairness and consistency, and it is the job of public administration managers to keep a good balance between following the rules and driving through change where it is needed. Question 2. On the basis of Long’s essay on administrative power and your analysis of â€Å"The Columbia Accident† what specific factors can you identify that can strengthen or detract from an organization’

Chronicling America Essay Example | Topics and Well Written Essays - 750 words

Chronicling America - Essay Example However, much that has been written is about the Indians and their social-economic life. For instance, the author has written that the work done by the Indians in Minnesota brings them about $50,000 -$60,000 annually (Hauke, 1915). Also, the reader learns that these Indians are 95% industrious. This is well understood when the example of the full-blooded Chippewa is given that gets $100 monthly by being a forester. This is an indication that the Indians at Minnesota were hard working. The aspect of the Red Lake Minnesota Indians as living in deplorable conditions is also well captured by the author. Notably, the Red Lake News was a newspaper that published articles that lived in the vicinity of the Red Lake and not the Indians only. Notably, despite the fact that they live in such conditions, the author has clearly indicated the cooperation among the members of this community whereby they ensured that they lived comfortably. Much of the Indians activities both at home and at school w ere exhibited at fair thus enlightening the people that attended on the lives of the Indians. Also, the Indians activities while at school were also on display such as their progress in games and their social cohesion. In my opinion, the editor is trying to communicate on the importance of social cohesion in the society and the economic advantages that come with that togetherness. This is seen when the editor gives the names of the people who taught the Indians as well as the managers of the schools (Hauke, 1915).

American Popular Culture Essay Example | Topics and Well Written Essays - 750 words

American Popular Culture - Essay Example In both presentations, popular culture is normally perceived as being less important by its icons so as to bring together wide acceptance that can dominate the mainstream ideology. As a consequence, it is normally castigated by non-mainstream forces which consider it shallow, consumerist, scandalous, or dishonest. This paper compares and contrasts the role of race (as discussed by another party) and advertising (presented by myself) in the American popular culture. Media advertising is largely a general part of the human lifestyle, especially in a consumerist society in the same way as race (Solomon 59). The average person in American society is faced with numerous adverts every day including billboards, television commercials, movie trailers and commodity introduction in films, online ads, radio and print media ads among others in the same way race pops up in virtually every social setting. In my presentation, advertising is seen as partly driven by popular culture attributes, and partly educative, in the sense that, the consumer learns about and how to understand other ways in which the popular culture manifests such as the needs and preferences of racial groups in respect of commodities set for sale. According to Solomon (60) Movie trailers, for example, are not just geared towards the sale of the media clip, but rather they attempt to influence the way the audiences perceive the storyline and the actions. Owing to the integration of various races in a film, the effect on the audience is similar to that of pure advertising in the sense that both improve socialization through cross-cultural interactions, influencing thought processes and the feelings of the audience in a balanced way. Cross-racial interactions in movies are similar to and or compliments media ads seeking unity in diversity, especially in the wake of globalization.

Criminal law Essay Example | Topics and Well Written Essays - 2000 words - 3

Criminal law - Essay Example First, stop and search is an important tool for policing in the modern age, particularly with concerns about gang violence, illicit drug use and trafficking and terrorism. Secondly, the use of police stop and search have generated significant public mistrust in the legitimacy of police practices and this is important since police legitimacy depends largely on public trust and support.4 This paper, is an exploratory study and examines and analyses police stop and search powers and the safeguards implicit in the powers from the perspective of police and the community. This paper is divided into two parts. The first part of this paper describes the law related to police stop and search powers. The second part of the paper analyses stop and search powers from the perspective of police and the public. Police Powers of Stop and Search Police powers of stop and search under ordinary criminal law are contained in three statutes: PACE, the Misuse of Drug Act 1971 and the Criminal Justice and Public Order Act 1994.5 Therefore, police stop and search powers are subject to legislative oversight. ... Moreover, stop and search powers may not be exercised on the basis of ethnic or racial profiling. This is arguably the most sensitive issue to which the reasonable suspicion test applies. As Lord Devlin stated, reasonable suspicion would arise where there are indications of guilt although there was insufficient proof.7 Thus, a person’s race, gender and so on, should not constitute grounds for stop and search as these factors do not constitute indications of guilt It can be argued however that the counterterrorism legislation, may leave open the possibility of racial and/or ethnic profiling. This legislation confers upon senior police officers much broader powers of stop and search. In particular, reasonable grounds to suspect are unnecessary.8 Constables however, may stop and search anyone that they reasonably suspect to be a terrorist.9 Again this would involve the same limitations on stop and search powers as seen with ordinary powers of stop and search. Section 44 of the Te rrorism Act 2000 permits a constable to stop and search vehicles and drivers and pedestrians in specifically authorized places under authorization by senior officers in the prevention of acts of terrorism.10 This is particularly controversial since it can be argued that under Section 44 police may stop and search individuals on the basis of a hunch and there is nothing preventing police exercising this broad power on the basis of racial and ethnic profiling. Section 44 was the subject of debate in Gillan and Quinton v UK. The European Court of Human Rights (ECHRt)ruled that the authorization powers contained in Sections 44-45 of the Terrorism Act 2000 did not contain sufficient safeguards against the protection of privacy guaranteed by Article 8 of the European

Organization Management Term Paper Example | Topics and Well Written Essays - 750 words

Organization Management - Term Paper Example He apprehended that the merger would result in creating a tier one organization but opera would eventually lose its identity. This would mean that the opera would come down from the highest step of ‘self actualization’ in Maslow’s need hierarchy to a lower order need which is ‘recognition or self esteem’. According to Maslow’s hierarchy people prefer to meet their lower order needs when the higher order needs remain unsatisfied. For Opera to lose its identity would eventually mean stepping down from its higher order need to a lower order one (O'Neil & Drillings, 1994, p.146). Question 2 2. Scott Parker could convince Mr Abravanel using Maslow’s theory of motivation. Abravanel has the reputation of spending 32 years with Symphony which has taken the orchestra from a part time community band to a world class and famous symphony. As per Maslow’s hierarchy of needs, Abravanel had attained the level of safety and security since the org anization had attained a level of stability under Abravanel’s leadership. However, Parker could convince him on the ground that the merger would uplift the status of the organization even further as Opera was also a world class musical organization. Making the merger a success would take him to a higher level of the hierarchy, i.e., the level of self actualization. Parker could convince him on the fact that the merger should be considered as a challenge for Abravanel and fulfilling the challenge would ultimately result in attainment of a higher reputation which would meet his self actualization need (Harris, McCaffer & Fotwe, 2006, p.99). Question 3 3. Personal power is that which is acquired through expertise, effort, personal attraction and legitimacy. Personal power reflects task relevant knowledge and experience, high commitment; and other desirable characteristics which are consistent with the organization goals and objectives (Whetten, 2008, p.280). On the other hand po sitional powers are acquired through one’s position and the responsibilities and tasks which are assigned to him. This refers to the degree of access to information that he has, or the amount of discretion that is vested on him. Anne’s positional power seems to be stronger than her personal powers having served the Boston Lyric Opera as the general director. This also gets reflected through the growth of Opera under her guidance from three to four production houses. She had gained immense reputation and recognition through her previous works. Her entire career depicts certain successful performances as the stage director in more than sixty opera productions in US. However, the fact that she was against the merger shows that she had little confidence in herself to drive the merger process. This demonstrates her weak personal power and fears. Her weak personal power gets reflected through her resistance against leading the merged entity as a CEO, although she had previou sly led a number of organizations in UK. a. Anne had the responsibility to taking forward the merged body of Opera and Symphony. Since she was particularly successful in the field of raising funds, it would be prime responsibility to raise funds such as to relieve Opera of the deficit it was running. Anne could use her positional powers for soliciting donations from different states which would be possible because of the reputation she had gained so far. This would account for the main positional powers she could use to lead the merger efforts. Her positional powe

Criminal law Essay Example | Topics and Well Written Essays - 2000 words - 3

Criminal law - Essay Example First, stop and search is an important tool for policing in the modern age, particularly with concerns about gang violence, illicit drug use and trafficking and terrorism. Secondly, the use of police stop and search have generated significant public mistrust in the legitimacy of police practices and this is important since police legitimacy depends largely on public trust and support.4 This paper, is an exploratory study and examines and analyses police stop and search powers and the safeguards implicit in the powers from the perspective of police and the community. This paper is divided into two parts. The first part of this paper describes the law related to police stop and search powers. The second part of the paper analyses stop and search powers from the perspective of police and the public. Police Powers of Stop and Search Police powers of stop and search under ordinary criminal law are contained in three statutes: PACE, the Misuse of Drug Act 1971 and the Criminal Justice and Public Order Act 1994.5 Therefore, police stop and search powers are subject to legislative oversight. ... Moreover, stop and search powers may not be exercised on the basis of ethnic or racial profiling. This is arguably the most sensitive issue to which the reasonable suspicion test applies. As Lord Devlin stated, reasonable suspicion would arise where there are indications of guilt although there was insufficient proof.7 Thus, a person’s race, gender and so on, should not constitute grounds for stop and search as these factors do not constitute indications of guilt It can be argued however that the counterterrorism legislation, may leave open the possibility of racial and/or ethnic profiling. This legislation confers upon senior police officers much broader powers of stop and search. In particular, reasonable grounds to suspect are unnecessary.8 Constables however, may stop and search anyone that they reasonably suspect to be a terrorist.9 Again this would involve the same limitations on stop and search powers as seen with ordinary powers of stop and search. Section 44 of the Te rrorism Act 2000 permits a constable to stop and search vehicles and drivers and pedestrians in specifically authorized places under authorization by senior officers in the prevention of acts of terrorism.10 This is particularly controversial since it can be argued that under Section 44 police may stop and search individuals on the basis of a hunch and there is nothing preventing police exercising this broad power on the basis of racial and ethnic profiling. Section 44 was the subject of debate in Gillan and Quinton v UK. The European Court of Human Rights (ECHRt)ruled that the authorization powers contained in Sections 44-45 of the Terrorism Act 2000 did not contain sufficient safeguards against the protection of privacy guaranteed by Article 8 of the European