A Brief Note On Fraud And Criminal Deception - 1211 Words

Fraud There are many definitions for the word fraud available from many sources, for example, dictionary.com defines fraud in a fairly basic sense as â€Å"deliberate, deception, trickery, or cheating intended to gain an advantage† (Dictionary.com, 2014). However for the case of this report, the definition by google.com is more appropriate and thorough with â€Å"wrongful or criminal deception intended to result in financial or personal gain† (Google). In all instances in the definition of fraud however, it can be concluded that an act or instance of fraud is goes breaks the rules of modern society, and as we shall soon see can frequently break the rules of modern law, and lead to negative legal action against the perpetrators of the fraudulent act.†¦show more content†¦Executives are unique in this sense since although other stakeholders may also have a financial interest in the company, they are the only stakeholder that can make claims to the value of their financ ial interest. Without auditors providing a (hopefully) unbiased opinion on managements’ assertions all other stakeholders, particularly shareholders, would be at the mercy of managements’ claims. Shareholders Shareholders of public corporations hold a special relationship with regards to the public corporations in modern business. Unlike many private companies shareholders of public corporations typically have no direct control over operations of their businesses. As shareholders they are entitled to their proportion of profits amassed by their company, through dividends, and are only limited in their potential losses as far as they invested into the company. Furthermore, shareholders’ influences over the company, excluding executives, only goes as far as having rights to vote proportionately to their earnings on a representative to manage the company (the executives). Waste Management The explanations of the positions discussed above are important to understand, as they set the precedent of the roles of the different parties that were involved in the Waste ManagementShow MoreRelatedInternet Fraud2358 Words   |  10 Pagescountries. There are now over 50 million people online. All kinds of information are available through the Internet at less cost or no cost at all. The Internet provides facts and ideas that are useful for the society, but the Internet is also a tool for fraud. The Internet â€Å"is a system of linked computer networks, worldwide in scope that facilities data communication services such as remote login, file transfer, electronic mail, and news group. The Internet is a ways of connecting existing computerRead MoreHuman Trafficking: A True Global Problem1856 Words   |  7 Pagesby means of the threat or use of force or other forms of coercion, abduction, fraud, or deception, the abuse of power or of a position of vulnerability or the giving or receiving of payments or benefits to achieve the consent of one person having control over another, for the purposes of exploitation (Human Trafficking, 2009). Human trafficking and smuggling are some of the fastest growing areas of international criminal activity a true global problem. Trafficking targets persons as the object ofRead MoreRole of Criminology in Determining the Emerging Patterns of Corporate Crime3821 Words   |  15 Pagescorporation (a business unit having a separate legal character from the natural persons that achieve its actions), or by individuals acting on behalf of a corporation or other business entity. White Collar crime is a quickly arising topic in the field of criminal justice. Recently, it has just been dubbed very popular with cases that are high-profile like the companies of Enron and Martha Stewart. In the book, Controversies in White Collar Crime by Gary W. Potter, author of the book thinking about Crime ProfessorRead MoreThe Growing Problem of White Collar Crimes in India19963 Words   |  80 Pagescontested, as the status of an offender may matter less than the harm done by someone in a trusted occupati onal position. The term ‘crime is also contentious as many of the harmful activities of businesses or occupational groups are not subject to criminal law and punishment but to administrative or regulatory law and ‘penalties or ‘sanctions. Therefore, a region specific definition of White Collar Crime can be:-- â€Å"White Collar Crime is an illegal act or series of illegal act for achieving an illegalRead MoreCommercial Liens - a Potent Weapon Essay32374 Words   |  130 Pagesin any form -| |except for personal use - without permission from the copyright holder. | Table of Contents Chapter 1 †¢ Introduction †¢ Scope and Purpose of Manual †¢ Some Notes on the Sample Briefs †¢ The Commercial Lien Strategy - Background †¢ Some Examples of the Strategy †¢ The Power Of Commercial Liens Chapter 2 †¢ Theory of Commercial Lien Strategy †¢ Introduction †¢ The Commercial Affidavit Process Read MoreAccounting Systems, Internal Controls, and Ethics28179 Words   |  113 Pagesthe entity authorises, completes, and records only appropriate transactions and, any fraud or error is detected in a timely manner. Managers and leaders at all levels of the entity are responsible for ensuring that an appropriate and effective control environment is in place in their areas of responsibility. However, all personnel have the responsibility to communicate observed or suspected problems involving fraud or other improprieties regarding the entity’s resources. In this context, it is vitalRead MoreAuditing Cases22626 Words   |  91 PagesParagraphs 52—53 of PCAOB Auditing Standard No. 12. How might a revenue recognition fraud occur under Enron’s strategy in the late 1990s? Identify an internal contiol procedure that would prevent, detect, or deter such a fraudulent scheme. Consult Paragraphs 65-69 of PCAOB Auditing Standard No. 12. Based on your understanding of fraud risk assessment, what three conditions are likely to be present when fraud occurs (the fraud triangle)? Based on the information provided in the case, which of these threeRead MoreThe Challenges Facing Administration Motor Insurance Management and Operational Risk in Kenyan Insurance Company15608 Words   |  63 Pageshowever to note that it is not the house, ship etc that is insured. It is the financial or pecuniary interest of the insured in the subject matter that is insured. The subject matter of the contract is the name given to the financial interest which a person has in the subject matter of the insurance. Before this principle, wagers in general were legally enforceable and courts had no option but to enforce them like insurance contracts. This position led to an increase in murder cases and fraud. RespondingRead MoreCorporation (Fisch) Outline Penn Law Essay62808 Words   |  252 Pagesrelationship exists. †¢ This is true even where student receives scholarship or is recruited by university; the university charges an attendance fee; the university purchases equipment/uniforms, etc. ââ€" ª Note ââ€" ª Note that parties’ characterization of their relationship does not control. Why not? ââ€" ª Agency relationship may not exist even when parties have not formally agreed to one ââ€" ª Consent requirementRead MoreAcca P7 Notes24991 Words   |  100 PagesACCA Paper P7 (INT) Advanced Audit Assurance Class Notes December 2011 Lecturer: Contents INTRODUCTION TO THE PAPER 2 CHAPTER 1 – REGULATORY ENVIRONMENT 3 CHAPTER 2 – PROFESSIONAL AND ETHICAL CONSIDERATIONS 8 CHAPTER 3 – PRACTICE MANAGEMENT 13 CHAPTER 4 – ASSIGNMENTS I: THE AUDIT OF FINANCIAL STATEMENTS 16 CHAPTER 5 – ASSIGNMENTS II: GROUP AUDITS 42 CHAPTER 6 – AUDIT REPORTS AND OTHER REPORTS 45 CHAPTER 7 – ASSIGNMENTS III: OTHER ASSIGNMENTS 57 CHAPTER 8 – CURRENT ISSUES

Kants Formalism Theory Essay - 715 Words

Kants Formalism Theory nbsp;nbsp;nbsp;nbsp;nbsp; The theories of Immanuel Kant, a German philosopher, have had an impact on the formulation and shaping of ethics today. Immanuel Kant graced this earth from 1724 to 1804. During his eighty year life time, he formulated many interesting ideas regarding ethical conduct and motivation. nbsp;nbsp;nbsp;nbsp;nbsp;Kant is strictly a non-consequentialist philosopher, which means that he believes that a persons choices should have nothing to do with the desired outcome, but instead mankind simply goes about doing good because it is morally correct. Kant theorizes that moral reasoning is not based on factual knowledge and that reason by itself can reveal the basic principles of morality.†¦show more content†¦In order to define and develop ones sense of duty, Kant developed the next component of his theory: the categorical imperative. nbsp;nbsp;nbsp;nbsp;nbsp;In essence, the categorical imperative states that what is fair to one must be fair to all. As worded by William H. Shaw, quot;an act is morally right if and only if we can will it to become a universal law of conduct.quot; Kant, who relied heavily on logic, insists that moral rules must by categorical rather than hypothetical. Hypothetical laws take on the quot;if....thenquot; form of action. If you want to reach a specific goal, then you will accomplish these tasks. On the other hand, categorical laws apply to everyone. Regardless of goals or desired outcome, the categorical imperative commands unconditionally. (Shaw, 67) nbsp;nbsp;nbsp;nbsp;nbsp;Kant developed another idea which exemplifies that of the categorical imperative. The principle of universal acceptability states that as rational, moral beings, individuals are bound by logic and its demands. Because logic is consistent, individuals all live by the same moral law. in order to determine whether a rule is a quot; moral law, we can thus ask if the rule commands would be acceptable to all rational beings acting rationally.quot; (Shaw, 67) Kants view of universal acceptability appears to be intertwined with echoes of the quot;golden rule.quot;Show MoreRelatedEssay about Kants Formalism Theory716 Words   |  3 PagesKants Formalism Theory The theories of Immanuel Kant, a German philosopher, have had an impact on the formulation and shaping of ethics today. Immanuel Kant graced this earth from 1724 to 1804. During his eighty year life time, he formulated many interesting ideas regarding ethical conduct and motivation. Kant is strictly a non-consequentialist philosopher, which means that he believes that a persons choices should have nothing to do with the desired outcome, but instead mankind simplyRead MoreMorality via Kant and Hegel1712 Words   |  7 Pagesobjectively what one ought to do, or do our moral intuitions rest solely on subjective, arbitrary grounds? With the lure of divine command theory fading from the Enlightenment and onwards, modern moral philosophy can be seen as an attempt to uncover either the criterion or its nonexistence. An endeavor in which few can be said to have been as influential as Immanuel Kant (1724-1804) and his most trenchant critic, G.W.F. Hegel (1770-1831). Kant’s deontological attempt to unearth this criterion rests onRead MoreKant s Categorical Imperative For Moral Knowledge1500 Words   |  6 Pagesshould be discarded, as a moral obligation is an obligation for all. It is obvious to all that in order for a principle to have any force in regard to morality, ‘it must carry with it absolute necessity’ (1898:130). If not, the obligation itself, as Kant declares, is easily doubted. Empirical ethics isn’t sufficient. An example commonly used refers to the instruction, ‘thou shalt not lie’. In that, its validity is not based solely on the judgement of man. Its moral obligation is a priori, found purelyRead MoreKotchians Moral Dilemma1652 Words   |  7 Pagesto prioritize the livelihood of the company versus his own. On the other hand, Kotchian’s action from a Formalist perspective was unethical; the bribes contradicted Kant’s categorical imperative. Utilitarian Perspective Utilitarianism is a theory of normative ethics holding that the proper course of action is the one that maximize utility, specifically defined as maximizing happiness and minimizing pain. The application of the utilitarian perspective is not simple if there are more than oneRead MoreMoral Theories Of Human Rights1614 Words   |  7 PagesAFRICA UNIVERSITY Institute of Peace Leadership and Governance: Master of Human Rights Peace and Development What do you understand under the philosophy of human rights and the reality of moral theories? PROF G. MENELICK : PHR 500 Laurelle Mbaradza 160563 Date _______________________________11 February 2017 ABSTRACT The paper gives a roadmap on the foundations of human rights from the mediaeval to modern times. It explains the need for one to understand the philosophical foundationsRead MoreJohn Stuart Mill And Immanuel Kant1786 Words   |  8 PagesJohn Stuart Mill and Immanuel Kant. They both had very different views when it came to the ethics of philosophy. They also though had some of the same views as each other. Both were concerned with the moral qualities of actions and choices of a person, but neither of them was much interested in about what makes a good person. They also different views and some of the same views when it came to lying. One thought it should never be done. The other thought it should be used as a last resort. FirstRead MoreIs it Possible to Define ‘Art’?1656 Words   |  7 Pagesimagination, typically in a visual form such as painting or sculpture, producing works to be appreciated primarily for their beauty or emotional power. The above quotation is the Oxford Dictionary’s definition of art. It is one of the many definitions and theories written in answer to the question â€Å"what is art?† However, that very question implies an inhibited and essentialist answer such as â€Å"Art is†¦Ã¢â‚¬  Throughout the centuries philosophers, critics and authors have attempted to edge us ever nearer to the evasiveRead MoreEthical Views Of Kant And Nielsen3041 Words   |  13 PagesThe purpose of the paper is to compare ethical views of Kant and Nielsen. Both figures are quite noticeable in philosophy of ethics. The works of Kant stand out among the philosophical treatises on ethics. Kant’s ethics in many ways was the pinnacle of moral philosophy of modern times. Nielsen considered that philosophy is related to practical matters. Philosophy thinking includes abstract theorizing and practical action. Nielsen claims that morality cannot be grounded on religion, and that thereRead More Why Could nt Kant Be A Utilitarian? Essay3254 Words   |  14 PagesWhy Couldnt Kant Be A Utilitarian? ABSTRACT: In his essay Could Kant Have Been a Utilitarian?, R. M. Hare tries to show that Kants moral theory contains utilitarian elements and it can be properly asked if Kant could have been a utilitarian, though in fact he was not. I take seriously Hares challenge to the standard view because I find his reading on the whole reasonable enough to lead to a consistent interpretation of Kants moral philosophy. Still, I hardly believe that it is necessarilyRead MoreThe Legal Ethics Of The Unlicensed Engineer Essay1349 Words   |  6 Pagesethics are not just about whether or not one puts money before safety. This paper will nevertheless delve on the ethical issues raised by the case. However, the author will strive to highlight all the ethical standards, in addition to, citing several theories to advance his case. Charles Landers was found guilty of using his partner Henry Wilson’s professional seal in addition to forging signatures on at least 40 documents. Formerly Landers worked for Constructing Engineers as an anchorage assemblyman

Financial Markets Assignment free essay sample

Explain how interest rates decline following major Fed purchases of mortgage-backed securities. The FED implements quantitative easing by buying financial assets of longer maturity, e. g. , mortgage-backed securities, from commercial banks and other private institutions in order to inject a pre-determined quantity of money into the economy. This is a means of stimulating the economy and lowering longer-term interest rates further out on the yield curve; quantitative easing increases the excess reserves of the banks, and raises the prices of the financial assets bought, which lowers their yield. Graphically, this can be explained with the aid of Figure below. The supply of money is shifted from point 1 to the right (MS1 to MS2) and, all else equal, the new equilibrium point (with aggregate money demand curve) is at point 2, where the interest rate is lower. i i1 i2 AD1 MS1 MS2 Quantity of Money 2. What could be the implications of lower interest rates for households and businesses? By implanting the policy of purchasing mortgage-backed securities, the FED has set its sight on increasing consumption and investment, which will ultimately increase employment. As described in question one Bernanke’s policy decreased interest rates to new record lows, encouraging borrowing for both businesses and households. The ability to borrow money at more attractive rates stimulates investment in durable consumer goods, such as automobiles, and in operational necessities such as buildings and capital equipment for businesses. Indeed, after the implementation of the policy mortgage applications increased significantly. Because of low interest rates households and businesses as investors could shift their preference away from bonds and into stocks. According to frbsf. org, the increase in stock trading volume has the effect of raising the value of existing stock portfolios, which in turn stimulates consumer and spending across the country due to the psychological effects of rapid capital appreciation. Lower interest rates can have negative effects on the value of the local currency compared to other currencies. As foreign investors dump their local-denominated investments in favor of more profitable currencies, exchange rates can shift to the detriment of the local currency. The weakening of the local currency serves to increase the attractiveness of local goods to foreign purchasers, which has the effect of boosting exports and international sales. All of the factors mentioned above have the combined effect of increasing productive output, or GDP, and increasing employment across a wide range of industries. As individuals, businesses and foreign investors are encouraged to spend more due to increased access to capital, higher portfolio valuations and weaker currency values, businesses in nearly every sector experience an increase in sales, often requiring them to grow their operations and employ additional labor. However, there are some negative implications from this policy. Without a strong commitment to control inflation over the long run, the risk of higher inflation is one potential implication of experiencing real interest rates below the economy’s natural interest rate. Low interest rates provide a powerful incentive to spend rather than save. In the short term, this may not matter much, but over a longer period, low interest rates penalize savers and those who rely heavily on interest income. If short-term interest rates are low relatively to long-term rates, households and firms may overinvest in long-term assets, such as Treasury securities. If interest rates rise unexpectedly, the value of those assets will fall (bond prices and yields move in opposite directions), exposing investors to substantial losses. Finally, low short-term interest rates reduce the profitability of money market funds, which are key providers of short-term credit for many (large) firms, e. g. the commercial paper market. 3. Explain the Fed’s policy dilemma and try to rationalize why unemployment in the US is stubbornly high while inflation is low. Based on the theory of the Philip’s curve diagram we notice that there is an inverse relationship between inflation and unemployment. Stated simply the lower the unemployment in an economy the higher the rate of inflation. Philip’s Curve Inflation Unemployment The explanation of the inverse relationship between inflation and unemployment is based on two assumptions. The first has to do with the fact that as unemployment rises there is no room for workers and labor unions to demand an increase so a wage inflation that would increase the prices of the final products cannot occur. Secondly high unemployment is a reflection of the decline in economic output and indicates an economy’s slowdown. Therefore competition among firms in recession will lead the prices at lower levels. But this is not the case currently in the US since we observe high unemployment and low inflation. The FED is concerned about the unemployment rate and in an effort to stimulate the economy and improve the labor market conditions it started implementing the quantitative easing policy. So the FED purchased MBS, helped banks to rebuilt their balance sheets, contributed into maintaining price stability, preserved interest rates near zero for more than three years, and prevented the economy from slipping into greater recession. Despite all these efforts the situation in the labor market did not improve. Apparently the fact that unemployment is still very high depicts the limitations of the monetary policy. The low business confidence, policy uncertainty, and the government’s reluctance to act are beyond the FED’s capacity. What is more the infinite use of the quantitative easing may produce undesirable effects in the long run such as stagflation. The only optimal solution under these circumstances is the co ordination of the FED’s monetary policy with the government’s fiscal policy plan that could boost the society’s confidence. . Do you think that another round of quantitative easing (QE) by the Fed would help stimulate the US economy? Please explain. The FED declared that the use of QE will be aggressively continued until the economy is improved. The cash injections into the economy helped interest rates to remain at low levels. Consequently everyone wins from this decision in the short run; homeowners can borrow at historical low levels of inter est rate, corporations can also take advantage of this act and invest, consumption increased and also the banks increased their profits and the stocks record a growth. So as long as the QE is active in the short run everyone is a winner. But in the long run things become vague. First of all historical evidence shows that despite the fact that interest rates may be at levels near zero it remains uncertain whether this will be the incentive to boost the actual economy. Secondly the fact that consumers will have more money to spend but fewer goods to buy might lead to a hyper inflation. Furthermore by repeating the use of QE is very possible to lead to a liquidity trap, unless the economy finds ways to stimulate production. Last but not least the FED’s decision to inject cash into the economy by purchasing MBS is questionable; Mortgage backed securities entail the risk of defaulting once again as they did in the real estate crisis and that would cost the Americans a lot more money repeating the history that started back in the September of 2001. To sum up the use of QE is indeed very effective but only in the short run. Short periods of economic recession can be avoided by stimulating the economy temporarily through cash injections but to maintain growth on the real economy we need to improve labor market conditions, productivity, innovation and bolster the economy’s confidence. So a combination of fiscal and monetary policy is the only way to prevent an economy from collapsing, and also is this is the only way to avoid a possible systemic risk that will negatively affect all the institutions and individuals. . How is a loose Fed monetary policy in the US affecting fundamentals (such as inflation, asset and commodity prices) in other countries? What does that imply about global monetary policy? Since the dollar is the vehicle currency in the global economy almost every country is tied to its value and everyone is affected by the monetary decisions of the FED. By the QE, the supply of dollars is increased and consequently the dollar depreciates against foreign currencies. This means that America’s exports will increase and on the contrary the imports will decrease. So countries trading with the US fear about the capital inflows and the possible inflation on commodities. On the other hand the FED support that there can be no further inflation since the global economy is in recession. Moreover countries experiencing huge capital inflows resulting in inflation can implement fiscal policy, such as imposing taxes, in order to contain the effects of foreign capital inflows which push up local stock prices and the currency itself. Every country should focus on its own monetary policy adjusting it to the problems that may experience. For example the US chose to inject more money in the economy. The results of such a decision are low interest rates, more exports but always with the risk of inflation. On the other hand a country experiencing high inflation might limit the money supply, increasing the interest rates with the risk of experiencing a decline in exports.

Mercantilism Essay Example

Mercantilism Paper In attempt to gain wealth and power, Great Britain started to enforce the theory of mercantilism.Their motive was to increase their prosperity using their colonies.They expected the colonies to provide them with goods and to only buy British goods in return. As a result of this attempt, the colonies were actually the ones who were benefiting from mercantilism the most.The colonies benefited economically, socially, and politically.Due to the Navigation Laws, the English were restricted only to trade with England, which lead the colonists to smuggling for profits.Americans enjoyed the rights of pure Englishmen.The colonists gained opportunities to form self-governments. Due to the Navigation Laws, the English were restricted only to trade with England, which lead the colonists to smuggling for profits.Great Britain did not want the colonies competing with the English industry.Before the Navigation Laws, the colonies were under salutary neglect and England was not aware of what the col onies were doing to earn their money.The colonists felt that only being able to trade with England was holding them back.Many found ways to get around the laws by smuggling their exports to foreign countries and earned a great fortune. In order to control foreign markets sea power was necessary.Britain expected the colonies to provide ships, ships stores, sailors, and trade to guarantee their naval supremacy.Colonists earned direct benefits from supporting Britains Navy.England paid them bounties and price supports for their help.American planters also profited by trade with England through their monopoly over the tobacco market in Britain. American colonists enjoyed the pure rights if Englishmen.England gave unity to its policies and was working to help the welfare of t

Prostitution in Nevada Essays

Prostitution in Nevada Essays Prostitution in Nevada Essay Prostitution in Nevada Essay To persuade my audience why prostitution should be legal. Central Thesis Statement: Prostitution should be legalized the Pros outweigh the Cons. The harm it Is creating now can be stopped and changed. Method of Organization: Topical Introduction Prostitution should be legal. It can help reduce crime, improve public health, and increase tax revenue. Many people make a living by selling themselves. Some of us may think it is wrong, but to each their own. We all do what we want with our bodies and do not Like It when someone tells us to change what we do with It. Hence, we should stop dictating whether someone can sell leis or her body or not. Prostitution is the oldest profession and will certainly not go away anytime soon. It is not an exchange of sexual favor, but a financial exchange. It takes two consenting adults for the exchange to occur. It is time we stop making decisions for adults. I will be addressing how legalizing prostitution will reduce crime, improve public health, and Increase tax revenue. L. Reduce Crime A. Prostitutes do not seek for help when they are raped or are involved in any kind of violence because what they do is illegal. 1 . Legalizing prostitution will help prostitutes seek for help when harassed rather than feel fear. 3. Melissa Dimmer Coordinator of the Global Network of Sex Work Projects found that under New York Criminal Procedure Law, sex workers who have been victims of sex offenses, including assault and rape, face greater obstacles than other victims. 2. Associate Professor of Finance at Northeastern State University Kirby Cunning statedlet is estimated that if prostitution were legalized in the United States, the rape rate would decrease by roughly 25% for a decrease of approximately 25,000 rapes per year. Linda M, Roll Reaching Director of the American Bar Associations (ABA) Child Custody Pro Bono Project, stated in an Par. 1991,A study conducted in Queensland Show[De] a 149% increase In the rate of rape when legal brothels were closed In 1 959, while other offenses against the person by males increased only 49%. B. Ronald Wittier Professor of Sociology at George Washington university found t hat women working in the Netherlands In a controlled and legal environment do not go through danger as much as being in an uncontrolled illegal system. 1. Workers and managers have instituted elaborate procedures to respond to violent customers quickly and effectively. Giving the prostitutes some sort of safeness. 2. Also the risks in Nevada are very low. We rarely hear about workers being raped because of security. If a case does escalate it is quickly addressed. C. Barbara G. Berets Senior Associate Dean for Graduate Studies and Academic Affairs, at the university of Nevada, Lass Vegas states there is a strong indication documented analysis and ethnographic data presented that legal brothels generally offers safer working environment than their Illegal counterparts. When customers enter a legitimate business, violence Is almost eradicated, because it is a controlled environment. And minimizing actual violence. 3. Nevada brothels offer specific mechanisms to protect workers via the ways transactions are organized, the ways technology is ordered, the visibility of customers, the bureaucratic relationships among customers, managers, and workers, and the cooperation with police based on the mere fact of their legality. All of these mechanisms work to eliminate systematic violence and to discourage an atmosphere of danger and risk Transition: We have talked about reducing crime , now lets consider improving public health. II. Improve Public Health A. Prostitutes work outside the law. This has implications for their health that are hard to quantify. Health problems associated with prostitution, such as sexually transmitted diseases (Studs) and violence, are commonly assumed to be risks of the trade. 1. Beth Gaze Associate Professor of Law at the University of Monish carried out an Australian Australian in 1998, the prevalence of sexually transmitted bacterial infections was 80 times greater in 63 illegal street prostitutes than in 753 of their gal brothel counterparts. . In off-street establishments, fear of arrest on felony charges can cause management to discourage the use of condoms, which could be used as evidence that the establishment is in the business of prostitution. 3. Legally sanctioned encouragement of prostitutes to use condoms or access screening services, both major determinants of the prevalence of sexually transmitted diseases, is impossible because of their illegal status. Occupational health and safety law is applied to prostitutes in lawful brothels but not to their counterparts on the street. B. The evidence of the legalized brothel system in Nevada highlights that sex work environments that are legitimated have the effect of empowering sex workers to control their working conditions and interactions with clients. 1. Sex workers will follow mandatory procedures prior to having sex. This includes routine checkups and protection. Transition: We have talked about improving public health, now lets consider increasing tax revenue. Ill. Increase Tax Revenue A. Government would collect taxes on the industry. 1. Since the government would collect taxes, they also have the power to control it. 2. Legal businesses pay taxes, while illegal prostitution businesses pay no taxes. 3. Let the government share in the revenue, and stay out of the affairs of consenting adults. Conclusion l. Legalizing prostitution will not only be helping a victimless crime will not be a crime anymore, but also improving the lifes of many individuals who risk their lifes trying to make a living. Prostitution is more difficult. I know that there are women who are drawn to the sex industry and entered it voluntarily and get quite upset if others say it is a demeaning occupation. I also know that many women are not there by hooch. It offends my sensibilities to know that a 16-year-old girl could physically or psychologically be forced into the sex industry II. Women will not have a great risk of abuse. Individuals health will not be in danger and tax revenue will increase. Ill. Legalizing prostitution will not harm anyone. However, it will improve some areas. Some people are Just afraid of change and do not like progression. It is time w e move on legalize this victimless crime. If you look at the majority of serial killers, they are doing it outdoors and with the use of their cars.

Bio 202 Endocrine System Labpaq Exp Essays

Bio 202 Endocrine System Labpaq Exp Essays Bio 202 Endocrine System Labpaq Exp Essay Bio 202 Endocrine System Labpaq Exp Essay Section: Bio 202 labpaq rep 01 lab report: ENDOCRINE SYSTEM You must get all parts of the question correct to get credit for the question Step 1 (Can be observed on the following slides, either from your lab kit or from the Labpaq web site ( labpaq. com/ex-1-endocrine-system)). List the following:  ·Location in the body of the following structures  ·Slide #/location observed  ·One hormone secreted by each Please pay special attention to properties like shapes, sizes, colors, textures, relationships among structures, plus any interesting or identifiable features. You may want to make drawings of slides so that you would be able to identify this tissue in the future. Pituitary gland: it’s a pea sized gland located at the base of the brain (center of skull) near the optic nerves. It secretes various hormones one example is the GH – growth hormone. Observed at labpaq web site (pituitary Anterior lobe) Basophils, Acidophils and Chromophobes where observed. Thyroid gland: is a butterfly shaped gland, located in front of the trachea , secreting hormones T3 triiodothyronine and T4 thyroxine. Observed at the labpaq website and noted in the slide the thyroid follicles, colloid, and simple cuboidal epithelium and C cells. Parathyroid gland: is located behind the thyroid. It secretes parathyroid hormones PTH that regulates calcium and phosphate. Observed at labpaq website Chief cells and oxyphil cells were noted. Thymus gland: it lies under the sternum and above the trachea in the mediastinum it secretes also thymosin. Labpaq website. Noted the medulla, cortex, and Hassall’s corpuscles from infant thymus. Adrenal gland: Located on the top of the kidneys, it secretes epinephrine slides viewed at labpaq website it was noted connective in the capsule and next to it the adrenal cortex, adrenal medulla and cells and blood vessels. Step 2: Abbreviations-  ·Give the full name of these hormone abbreviations  ·Name the gland that secretes it. 1. ADH Antidiuretic hormone / vasopressin if too little of that hormone it causes diabetis insipidus secreted by the Pituitary. 2. FSH Follicle stimulating hormone, produce sperm for males and ovulation in females secreted by the pituitary gland. . LH Luteinizing Hormone , regulates testosterone and estrogen levels , secreted by the pituitary. 4. NE norepinephrine function as both hormone and neurotransmitter secreted by the adrenal medulla in the adrenal gland . 5. TSH Thyroid stimulanting hormone, stimulates thyroid gland , secreted by the pituitary gland. Step 3: Answer the following questions (1 point each): Figure 1. 1. The pancreatic structures highlighted in blue in Figure 1 secrete all of the following EXCEPT: C a. Insulin b. Glycogen c. Pancreatic Polypeptide X d. Glucagon 2. Name the 3 cell types numbered in Figure 2 and name the major function of each. Figure 2. 3-In your own words, describe the clinical differences between hypothyroidism and hyperthyroidism. Hypothyroidism basically means that is not enough thyroid hormones in the body while hyperthyroidism means that is too much of thyroid hormones in the body. In both cases it causes an unbalance of hormones for proper homeostasis. 4. List three physiological effects of calcitonin. Stimulates bone deposition in kids while suppress bone resorption by inhibiting osteoclasts. Controls release of calcium and phosphorus in the bloodstream Also opposes effects of the PTH on Ca2 levels 5. What role does parathyroid hormone play if there are low calcium levels? It will raise the Calcium level in the blood by stimulating bone resorption while inhibiting bone deposition. 6. Is the thymus more efficient in younger or older populations? What is the implication of this? The thymus gland plays a hole in 3 systems: endocrine, lymphatic and immune, it grows on us until when we are about 6 years old and then it starts shrinking. So yes, it is more efficient in younger people than in old people, the implication of this is that as we age and it shrinks it also becomes more fatty and less granular losing most of its power, it also contains lymphocytes and thymosin hormones, when the thymus shrink and lose its ability to aid the immune system we get sick, lymphocytes are diminished, so our response against antigens is very weak. 7. How is the adrenal medulla tied into the â€Å"fight or flight† response? Because it also plays a role as a ganglion in the sympathetic nervous system, which is the fight to flight system, the SNS releases NE / adrenaline that kicks in when we are in dangerous or very stressful situations 8. In your own words, what are functional differences between glucocorticoids and mineralocorticoids? They are both corticosteroids , but the mineralocorticoids is responsible for regulanting the electrolytes balance in the body while the glucocorticoids regulates the metabolism of glucose and carbs , lipids etc†¦ 9. What are the differences between the endocrine and exocrine functions of the pancreas? Exo â€Å"outside† end â€Å"within† basically means that the exocrine will secrete digestive enzymes into the intestines while the endocrine part will release insulin into the bloodstream 10. What are the physiological effects of testosterone, estrogen, and progesterone? Sex steroids, the adrenal glands produce testosterone, progesterone and estrogens in both men and woman. Testosterone it has anabolic and androgenic effects, it increases the growth of muscle and bones, and the maturation of sex organs ( especially in men) maintains the sexual desire in both , men and woman; however women have a little less than men. Progesterone aids in woman ovulation and it lessen when in menopause, it also promotes well being sensation such as aiding in sleep has a calming effect and aids in fat metabolism, stimulate new bone formation, restore O2 level in cells, restore libido for both men and woman. Estrogen: there are 3 different hormones in this class: estrone, estradiol and estriol. They affect the mood on both men and woman by increasing serotonin. It also increases body fat, creates progesterone receptors, increase blood clothing, reduce the libido, and reduce O2 levels in cell etc†¦

Interpretation and Application of Statutory Legislation Essay

Interpretation and Application of Statutory Legislation - Essay Example The statutory legislation that relates to said areas may be raised by the member as private bill shall also require the assent of Royal Queen. The example of this sort of legislation is Interpretation Act 1978 (Slapper & Kelly 89). The courts while deciding the cases of statutory legislation binds to take into consideration the prevalent laws, applicable rules and a set of precedence in similar cases for the purpose of clarity and to identify the loopholes in existing laws. The ambiguous laws need to be addressed by the parliamentarian to streamline in light of the court decision. Many rules are known as collective rules in terms of its statutory interpretation. The competent court of law applies different rules in different scenarios besides the decisions of other courts to decide the matter (Slapper & Kelly 134). The three rules as golden rule, literal rule and the mischief rule are applied by the court to assess the objective of legislation that has passed by the constitutionalist . The golden rule may be used where the literal rule leads to an absurd status. In specific situation courts do not go for interpretation of legislation (Slapper & Kelly 133). Statutes imposing taxation or penalty are subject to detailed assessment to address identified ambiguity for resolution. The statutory interpretation is generally based on three rules as mentioned herein above. Strict application of literal rule in the eyes of judges has no significance. The strict literal interpretation culminates absurdness. The golden rule outside the purview of the act, hence the court can apply mischief rule. However, English courts are more literal in their approach than in most other territorial jurisdictions (Wolfe 69). Mischief rule was favored by the Law Commission in view of the purposive approach to interpret the law. In the larger interest of justice, judges should find out the intention of parliament concerning the purpose of specific legislation. In England, mentioned rules, come to surface 200 years ago. With the assumption of role as law makers by the parliamentarians, the common law and the royal prerogative become in fructuous. Until then, the cour ts regarded statutes as an instrument to plug the holes of the common law. The law makers expect that courts should treat the exact wordings of Acts as the voice of the legislature. Here, we may cite Sussex peerage 1844 case to express the rule. The role of parliament is to enact statutory legislation to address the particular issue, which should not be in conflict of the constitution in force (Morrison 129). The intention of the law makers

If you were given one million dollars to spend how would you spend it Essay

If you were given one million dollars to spend how would you spend it you cannot use it for yourself,familymembers or friends - Essay Example What if I have to spend it nonetheless? What would I do and where would I spend it? The question is abrupt and took me by surprise. It was a while before my polished grey cells started to work again. I thought, pondered, mused and laughed. I had numerous thoughts and each thought was powered by another, more distinct idea. Clearly imaginative, my thinking was now starting to bog my rationality. It was time I took a final decision and the decision had to be a wise one. The moment I gave it a thought, my mind stopped churning ideas. A simple decision to spend it on others had simplified the entire procedure and allowed me to slip out of my utopia. The next thought was the execution of my plan. In order to simplify the scenario, the million dollars were to be spent for charitable use. With that in mind, I narrowed my thoughts to select the best charitable option. Even as I pondered, I had a recollection which was nothing but a reflection of my past. It involved a close friend who had spent a majority of his life running in and out of rehabilitation centers. His drug abuse had spilled water on a promising career and his life had been reduced to a human waste. Taking cue from the above example, I set out to locate a suitable property dealer and bought an acre of wasteland. The hundred thousand dollar bill was substantial to transfer the property to my name. The next step involved hiring an expert builder who transformed the wasteland into a fully functional rehab center. I then enrolled the necessary staff and took the required permission to kick start the rehab center. A month later, the rehab had treated over a hundred patients for free, provided employment to fifteen nurses and five doctors besides a dozen maintenance employees. As I had no right over the money, the rehab was transferred under the care of a local non governmental organization. Well, if you thought that I spend the entire amount on the purchase of land, the

Sichuan dumplings with soy sauce caramel Essay Example for Free

Sichuan dumplings with soy sauce caramel Essay Rate this recipe: 2,302207,4,1,0 2,302207,4,2,0 2,302207,4,3,0 2,302207,4,4,0 2,302207,4,5,0 17 votes Recipe by: Rishi Desai Contestant Makes: 20 Ingredients 2 cups (200g) moist coconut flakes or shredded coconut 60g palm sugar, coarsely grated  ½ teaspoon ground cinnamon  ½ teaspoon ground cardamom  ½ teaspoon ground nutmeg 1 teaspoon Sichuan peppercorns 125ml ( ½ cup) milk 20 gow gee wrappers Vegetable oil, for frying 110g ( ½ cup) brown sugar 250ml (1 cup) thickened cream 2 tablespoons dark soy sauce Add to Shopping List Method 1. To make the filling, combine coconut, palm sugar, cinnamon, cardamom, nutmeg, peppercorns and milk in a saucepan set over low heat. Cook for about 5 minutes or until the palm sugar has melted, stirring often. Transfer mixture to a blender and blend to a coarse paste. 2. Place 1 tablespoon of filling into the middle of a wrapper, and lightly brush edges with water. Using your fingers, gently bring the edges of the wrapper together, crimping at intervals to seal, forming dumplings with a flat base. Repeat with remaining filling and wrappers. 3. In batches if necessary, place dumplings in a large steamer basket, sitting over a saucepan or wok barely filled with boiling water. Steam for 10 minutes or until wrappers are tender. Remove and set aside on a tray lined with baking paper. 4. Heat oil in a large frying pan set over medium heat. Cook the base of the dumplings for about 1-2 minutes or until golden brown. 5. Meanwhile, to make the soy caramel, place brown sugar, cream and soy sauce in a saucepan over low heat. Bring to a simmer, and cook for about 10 minutes or until a thick caramel. Transfer caramel to a jug. 6. To serve, place wontons on a plate and serve with soy sauce caramel. Print RecipeRecipe CardCreate PDF.

Essay example --

The year 1964 has been a very powerful time for the Civil Rights Movement. All the protests and fight for equality has been called for by activists all over America. There have been many films and music committed to show people that the country need to change and that discriminating against people is immoral. All the revolt against society and its norms have led to the important event, where on July 2, 1964 the Civil Rights Act was signed by President Johnson. In January 13, 1964 was the release of the song that supported for such an event was by Bob Dylan called The Times They Are A Changin’. The movie that also called out to people to change was Black Like Me, released in May 20, 1964. Due to the release of such songs and films, there was clearly an issue of inequality and injustice going on in America. The intolerance of people who aren’t white was rising especially in the south. The creation of the song and film hoped to open people eyes to what was going on in Ame rica. I think that the song and film helped society by making them realize that the Civil Rights Act needed to be passed and that the ways things were had to change. On the day of the signing of the Civil Rights Act by President Johnson, many historical events took place to make the bill pass. There were many non-violent supporters of the bill. From events such as the Montgomery bus boycott to Rosa Parks’ refusal to give up her seat in a bus and Martin Luther King Jr.’s â€Å"I Have a Dream† speech. The Civil Rights Act was supposed to be signed by former President Kennedy but his assassination on November 1963, led to Johnson taking over for Kennedy. During the debate of the bill, whether it should be passed or not, there were much opposition to it from both the House ... ...ack Like Me in 1959, which was later made into a movie. The south didn’t take what Griffin wrote about the conditions the African American was facing lightly. They lashed out against Griffin and his family, who lived in Texas. They sent threats to Griffin and his family, they even went as far as burning an effigy of Griffin. It resulted in Griffin and his family moving to Mexico for a few years. I was surprised to find that Griffin was a strong supporter of racial equality, since he grew up in Texas and has lived there most of his life. In the film, Griffin explains how he fought in the Korean War and he tells the doctor, who was helping him get his skin darker, that he was blinded in the war and he regained his sight. During the time he was blinded, Griffin says, â€Å"when your blind there are no color differences and you see things differently and judge differently.†

Lifespan Development Essay

Lifespan development, also known as human development, is a field of study that is devoted to understanding constancy and change throughout a person’s lifespan (Berk, 2010). Lifespan development begins with infancy and looks at several points in a person’s life in which significant change takes place. The study of children did not begin until the late nineteenth and early twentieth centuries (Berk, 2010). Throughout the years, there was much speculation about how people grow and change and when combined with research, theories of development surfaced. These theories were vital and provided organized frameworks for observations of people and they are verified by research and provide a basis for practical action (Berk, 2010). Many theories developed to study the development of infants and children through out life and these theories continue to have an impact on society and research today. There are many notable development researchers and schools of thought such as Locke, Rousseau, Arnold Gesell, Ivan Pavlov, Lawrence Kohlberg, Social Learning Theory, Stages of Moral Development, and Ethiological Theories just to name a few (Crain, 2005). There are some researchers and schools of thought who still have an impact today such as Charles Darwin and his theory of evolution, Jean Piaget and his Cognitive-Developmental theory, and the Psychoanalytic theory first developed by Sigmund Freud. Charles Darwin is significant to developmental studies today because it was he who paved the way, or opened the door for the many schools of thought that followed. Darwin is known as the forefather of scientific child study (Berk, 2010). Darwin was a naturalist who observed the variation among plant and animal species but along with that, he also noticed that within a specific species, no two individuals were alike (Berk, 2010). Darwin developed his theory which emphasized the principles of natural selection and survival of the fittest. Darwin’s theory stated that certain species survive in particular environments because they have characteristics that fit with or are adapted to their surroundings (Berk, 2010). Those within the species that best meet the survival requirements live long enough to reproduce and keep the species going (Berk, 2010). Darwin, in his travels and research, noticed some similarities in prenatal growth among species. Darwin noted that the embryos of most species are highly similar in their early forms revealing their descent from a common ancestor (Crain, 2005). Today, in the broad scheme of things, Darwin’s theory is correct in that there is variation within species and only some survive long enough to reproduce and pass along traits. What Darwin did not understand was the mechanisms underlying the transmission of traits (Crain, 2005). Because of this, Darwin is considered the starting point for the vast amount of research done on lifespan development. Another important aspect of the study of lifespan development is the Cognitive-Developmental theory of Jean Piaget. Piaget’s theory stated that children actively construct knowledge as they manipulate and explore their world (Berk, 2010). Piaget did not believe that a child’s learning depended on reinforcers as the behaviorists believed. Piaget developed stages and he realized that children pass through his stages at different rates and did not pay specific attention to the ages at the various stages but noted that they all pass through the stages in the same order (Crain, 2005). Piaget’s theory consisted of four periods: Sensorimotor Intelligence (birth to 2 years), Preoperational Thought (2 to 7), Concrete Operations (7 to 11), and Formal Operations (11 to adulthood) (Berk, 2010; Crain, 2005). Piaget was able to convince people that children are active learners whose minds consist of rich structures of knowledge (Berk, 2010). Piaget’s research influenced much of the research today that focuses on children’s concept of self, other people, and human relationships. Many educational philosophies and programs that place emphasis on discovery learning and direct contact were encouraged by Piaget’s theory (Berk, 2010; Crain, 2005). Piaget’s theory did not come without criticism and challenges. Some researchers believe that Piaget actually underestimated the competencies of children. This called for much research to be conducted to challenge and refute Piaget’s theory and also to find ways to expound upon and improve his theory. The most influential school of thought is that of the Psychoanalytic perspective developed by Sigmund Freud. This perspective states that people move through a series of stages in which they confront conflicts between biological drives and social expectations. (Berk, 2010). The school of thought basically focused on the fact that psychological change is governed by inner forces such as feelings, impulses, and fantasies (Crain, 2005). Freud had all of his patients use free association in their sessions allowing them to talk freely about the painful events of their childhood (Berk, 2010). Freud developed the psychosexual theory based on theiry unconscious thoughts. This theory states that how parents manage their child’s sexual and aggressive drives in the first few years is crucial for healthy personality development (Berk, 2010). Freud’s theory was considered the first to place importance on the influence of the early parent-child relationship and its involvement in development (Berk, 2010). Freud’s theory received much criticism because he did not study children directly and was heavy on the sexual influences in development (Crain, 2005). The controversy surrounding this particular school of thought, prompted much research making it one of, if not the influential theories in development. Research on the many aspects of emotional and social development which includes infant-caregiver attachment, aggression, sibling relationships, child-rearing practices, morality, gender roles, and adolescent identity grew from the theory of Freud (Berk, 2010). There are many different ways in which development is researched. One way is systematic observation. There are different ways in which observations of children and adults can be conducted. Some researchers choose to go into the field or the natural environment and record the behavior which is known as naturalistic observation (Berk, 2010). Through naturalistic observation, researchers are able to get a first hand look at the subjects. On the other side though, some people may not display the same behavior in their everyday life. Structured observations happen when the researcher sets up a laboratory situation that evokes behavior of interest so that every participant has equal opportunity to display the response (Berk, 2010). The ways that the research is gathered varies depending on what is being researched. Systematic observations tell how people actually behave but fail to provide the reasons behind the behavior. Self-reports allow participants to provide information on their perceptions, thoughts, abilities, feelings, and other things of that nature. They are normally structured interviews, unstructured interviews, questionnaires, and tests. Clinical interviews allow for researchers to use a flexible, conversational style to probe for the participant’s point of view (Berk, 2010). Structured interviews, which includes tests and questionnaires, asks all participants the same set of questions (Berk, 2010). They are easier to score and the researchers are able to identify a behavior of interest because the participants is given alternatives in answer choices. The case study methods brings together a wide range of information on one person, including interviews, observations, and test scores (Berk, 2010). This method is generally used when one wants to study a particular group that may be small in size but varies in characteristics. This method can be viewed as bias because the information that is collected is sometimes done unsystematically and is subjective and geared toward the researchers theoretical perspective. There are other ways of studying development such as ethnography which is aimed at studying a culture as a whole or a distinct social group through participant observation. Ethics plays a major role in the study of development as well. It is important to consider things such as the rights of the participants. This includes, protection from harm, informed consent, privacy, knowledge of the result, and beneficial treatments (Berk, 2010). Informed consent is especially important because it provides safeguards for children and elderly people who are cognitively impaired or have to be cared for in settings for the chronically ill (Berk, 2010). Research generally creates ethical issues because of the search for scientific knowledge and at the same time has the opportunity to exploit people. References Berk, L.E. (2010). Development through the lifespan. (5th Ed.). Boston, MA: Allyn and Bacon Crain, W. (2005). Theories of development: Concepts and applications. (5th Ed.). Upper Saddle River, NJ: Pearson Prentice Hall

Intel Corporation Essay

Intel Corporation Robert Noyce and Gordon Moore Founded Intel in 1968. The two scientists had a vision for semiconductor memory products. In the year of 1971, the first microprocessor was shown to the world. Today Intel continues to grow not only in computer technology, but in the scientific areas of chemistry. Intel has reached out and opened doors to the world offering education, inspiration, communication and careers. The article I read is one that reads how Intel is making a better future and touches the lives of many; including a Colorado girl who received $100,000 Intel first prize; Sara Volz is a high school senior who has cultivated populations of algae in hopes to create a more feasible bio-fuel for the future. (Hauser, 2013) I find this article intriguing in a couple ways, first the brilliant minds at work in science and technology, and that Intel is helping and inspiring these brilliant minds to grow build their company in an un-self-serving way. Intel is a Corporation, which is defined as a legal structure that enables individuals to contribute and pool resources, capital, and labor in order to generate a profit. They are created by state law in the stated in which they are incorporated. Intel Corporation makes strenuous efforts to interact with their stakeholders, providing information profiles, biographies and documents on their website. Intel is the world’s largest semiconductor chip maker; the products they manufacture are computing and communication components like motherboards and wireless products. Intel strives to make the best product offering, service at your finger tips, extended service warranty, technical support, and Intel server parts on shop Intel. (Intel, 2013) Intel’s offers this globally to the B2B market and the consumer market. Intel Corporation holds about 80% of the market for microprocessors that go into the computers components most use today. Being number one Intel has competition in the computing and technology world, for example; International Business Machines, AKA (IBM). IBM the top providers of computer products and services the company focuses on service business and is one of the biggest providers of semiconductors. IBM also serves customers globally across most industries. (CNN money, 2012) Another competitor is  Advanced Micro Devices inc. (AMD). AMD is ranked number two in PC and server microprocessors, although Intel takes the world of processor market AMD gets most its sales internationally, china accounting for over half making it one of Intel’s biggest competitors. Intel’s motivates their employees by offering, Flexible Work Options; this gives employees flexibility in their schedules with telecommuting, part time, and job share opportunities to fit the needs in their pers onal lives. Family Focus offer childcare, and eldercare. Personal and professional development, Intel wants its employees to grow and helps with offering seminars tuition reimbursement, clubs, and career training courses. Last but not least their excellent coverage and preventive care, Health and Wellness Program to be proactive. The benefits and motivational factors may be one of the reasons Intel’s turnover rate is low. Intel saw 3% or less of their employees leave voluntarily during a 12-month period when surveyed. (CNN money, 2012) Intel corporation (NASDAQ: INTC) last price today is 23.96 on May 02, 2013. The highest was May 02, 2012 at a price of 29.18 and its lowest was November 20, 2012 at stock price of 19.36 (CNN money, 2012). Stock price has fluctuated at Intel over the past year but today is on its way back up. When buying shares of stock a decision is based on how well corporation and their profits are doing. In 2012, economic conditions were low, the increase in the job market means an increase in housing, and buying when people are buying like they are today in 2013 one is more likely to take a risk in corporate profits buying in stock (LIM, 2012) Ten years from now Intel will still be going strong. According to Gordon E Moore, Intel’s Co-founder a visionary wrote a paper in 1965 the paper notes in observation that the number of components in integrated circuits had doubled every year over and would continue. (AKA, Moore’s Law). According to the International Technology Roadmap for Semiconductors the trend is expected to continue with a bit of slowing at the end of 2013. Intel is a large corporation that is growing every day, creating employee partnership, giving not only to the community, but to communities around the world, and making a huge difference. Intel Values their employees, the quality of the products they develop, and their customers. Works Cited CNN money. (2012). Retrieved may May 03 2013, 2013, from CNN money top companies: http://money.cnn.com/ Hauser, E. (2013, march 12). New York Times. Retrieved May 03, 2013, from Science, Colorado Student Receives $100,000 Intel First Prize: http://www.nytimes.com/ Intel. (2013, May 2). Intel Corporation. Retrieved 2013 LIM, P. J. (2012, 12 16). The New York Times. Retrieved May May 02, 2013, 2013, from Your money: http://www.nytimes.com/

Capitalism VS Socialism essays

Capitalism VS Socialism essays Capitalism is an economic system where private individuals and business firms carry on the production and exchange of goods and services through an intricate system of prices and markets. Capitalism shows that it is possible to pursue private gain in ways that would benefit not just the interests of the individual but also those of society as a whole. Society's interests are met by maximum production of the things that people want. The grouping of self-interest, private property, and competition among sellers in markets will lead producers as by an invisible hand to an end that they did not intend, namely, the well being of society. In a capitalistic economic system, the basic production facilities land and capital- are privately owned. The economic activity is structured and coordinated through the interaction of buyers and sellers in markets. Owners of land and capital as well as the workers they employ are free to pursue their own self-interests in seeking maximum gain from the use of their resources and labor in production. Consumers are free to spend their revenues in ways that they believe will yield maximum satisfaction. Under capitalism, producers will be forced by competition to use their resources in ways that will best satisfy the wants of consumers. Self-interest and the pursuit of gain lead them to do this. Under this system a minimum of government supervision is required; if competition is present, economic activity will be self-determining. Government will be necessary only to protect society from foreign attack, uphold the rights of private property, and guarantee contracts. Socialism, economic and social doctrine, political movement inspired by this doctrine, and system or order established when this doctrine is organized in a society. The socialist principle demands state ownership and control of the primary means of production and distribution of wealth, to be achieved by reconstruction of...

7 Surefire Ways to Get a Great Job

7 Surefire Ways to Get a Great Job You get a job by finding openings, sending out your resume, and impressing employers during the interview process. It can take some time, but it’s fairly simple. It’s a bit more challenging to land a dream job. First, you have to find the right opening, then you have to make yourself stand out in a sea of applicants. Only then do you have the chance of landing a great job and starting your dream career.1. Become a Master of Your TradeIf you want that well-paid job, you’re going to have to bring the skills. Companies with hot, in demand jobs need people who can bring expertise with them. Then, they need those same people to have the motivation to continue learning and growing with the organization.Before you start your job search, do a skills inventory. Are your marketable skills up to date? Have you been using the most current technology? Maybe it’s time to take a class or two, or spend some time at home doing projects to update your skills.2. Cast a Wide NetThe best jobs rarely make it to the most commonly used job boards. Many are filled by word of mouth and proactive recruiting. Other companies simply wait for interested applicants to find them. This means that you have to cast a wide net in order to put yourself into consideration for the best jobs.You can start by networking. Find and connect with people who work for the companies that interest you. Follow the companies themselves on social media as well. Also, forget about job boards. Yes, you might find something worth pursuing, but you’re more likely to learn of a great opening on a company website or through a social media post.3. Research The Company You Want to Work ForHere’s a great piece of career advice. Do some deep research into the company you want to work for before you approach them about a job. Not only can it help you to identify where, when, and how they might need someone with your skills, it can help you ace the interview process as well.Thereâ⠂¬â„¢s a point in almost every interview where the applicant is asked if they have any questions. This can truly be a pivotal point in the interview. If you throw out some generic question such as, ‘Are there any interesting projects happening soon?’,you become   just another, forgettable applicant.On the other hand, if you have a thoughtful, insightful question that only someone who has truly bothered to do some research can ask, that can provoke some great dialogue. It will also impress the heck out of the interviewer.4. Make Sure Your Resume is Spot OnResume writing should never be an afterthought. After all, your professional resume is the tool that you use to get the attention of hiring managers and boost your career prospects. Take the time to put together a great resume. It can really mean the difference between getting a call back for an interview and landing in the circular file.There’s a good reason why some people opt to hire a resume writing service rather than attempting to write their own resumes or CV. A qualified resume expert knows how to use both content and formatting to create a resume that is visually appealing, and draws attention to your best features.5. Develop a Powerful Online PresenceIf you have a LinkedIn profile, that’s a great start. However, it isn’t enough to make the connections that will lead to your dream job. You have to create a powerful online presence. This will help you build the network that you need as well as giving yourself a forum to establish yourself as a thought leader in your industry. Here are some tips on creating a professional presence online.FacebookStart by creating a professional page that is separate from your personal page. Then, complete all of your profile information. It’s a good idea to include a link to your resume as well as other social media sites. Once you have done that, you can start following companies as well as leaders in your chosen field.As far as content goes, yours should be a mixture of the following:Sharing And Commenting on Posts Made by Thought LeadersSharing And Commenting on Industry Relevant ArticlesPosting Your Thoughts on Industry Related News And EventsPromoting Your Own Blog ContentTwitterFirst, try to pick a Twitter handle that reflects your passion and expertise. Once you’ve set that up, you’ll want to select individuals and companies to follow. Just like you did on Facebook, you’ll want to comment on and retweet interesting Tweets.Twitter is also a great place to find and participate in relevant conversations. You can use the search feature to find posts based on keyword phrases that are meaningful to your industry.LinkedInThis one is really important. When companies want to fill an in demand position, they will often begin by searching for qualified candidates on LinkedIn. Be sure to do the following.Use a professional photo as your background.Fill out your profile completely.Ask peopl e for recommendations.Post content to LinkedIn.Reach out to coworkers, fellow alumni, and others to begin building a great network.QuoraThis newly popular forum is a great place to establish thought leadership. Simply set up your profile and look for questions that are relevant to your areas of expertise. Then answer them to show your insights.Your Professional WebsiteYour professional website should act as home base. It should contain samples of your work, your accomplishments, your resume, links to any customer testimonials and recommendations, and the story of why you are in the field that you are and what makes you so passionate about it.Your BlogThis is your place to post original content that relates to your field. Keep your blog updated frequently, promote your posts on your other social media accounts, and engage with your audience. You never know when a follower may become the link to your next dream job.6. Be Positive About Your Current PositionEveryone knows that you shou ld never burn bridges by badmouthing your current employer. However, to increase your chances of getting a great job, you should go one step further. Make a point to speak positively about your current or former employer.This doesn’t just apply to interviews. You should take the same positive, supportive approach on social media as well. You’ll never hurt yourself by remaining cordial and professional.7. Pursue What You Want to do Any Way You CanYour dream job may not be right around the corner. You may need to gain some more work experience, or even get a college degree. The point is to work towards your dream job continually, even if that work is done incrementally.ConclusionIf you want to land the job of your dreams, you have to change up your game to stand out from other job seekers. Follow the seven tips above, and you will be well on your way to accomplishing your goals.About the author:Lisa Sparkers is an avid Resumes.Expert blogger aiming to help you make a suc cessful career and enjoy what you’re doing every single day. You can follow her on Twitter @LisaSparkers.

The accounting Profession Assignment Example | Topics and Well Written Essays - 500 words

The accounting Profession - Assignment Example The article provides an analysis of the SWOT analysis for Deloitte. It provides information on the performance of the company in the auditing field of business. The analysis is very helpful for the reader in the sense than one gets to understand both the internal and external environments of the company that influence its performance. The internal environment relate to strength and weaknesses whereas the external environment relates to issues such as opportunities and threats. Litigation support and fraud accounting are both areas in the field of forensic accounting. However, there exists a difference between the two areas. Litigation support involves the forensic accountant giving opinion about existing facts or facts that are yet to be uncovered. On the other hand, fraud accounting involves making investigations to unmask cases of fraud on the company books of accounts. The difference arises from the fact that a forensic accountant only provides an opinion in the case of litigation support whereas he gets involves in making investigation in the case of fraud accounting. This means that a forensic accountant has a passive role in litigation support and an active role in fraud accounting. The most important skill is working experience gained from everyday accomplishment of forensic accounting tasks. This skill is very crucial because the longer a forensic accountant has been in the profession, the greater the ability to handle various challenges related to everyday tasks. Experts comment that despite an accountant gaining knowledge in internal controls, accounting and auditing, taxation, and business operations the most important thing is maturing in the profession. Maturing is achieved by a forensic accountant spending a great deal of time performing tasks related to his or her profession. A forensic accountant should also have adequate training in relevant fields to his or her profession

Information and Communications Essay Example | Topics and Well Written Essays - 1500 words

Information and Communications - Essay Example Given that language, music, and images constitute the major forms of symbolic expression, they assume special significance in the sphere of culture. Both processes, media globalization and cultural imperialism, are closely connected with cultural globalization which means expansion of cultural flows across the globe. At the beginning of the 21st century, global media interferes all parts of the world promoting and popularizing western life style and ideas. The exploding network of cultural interconnections and interdependencies in the last decades has led some commentators to suggest that cultural practices lie at the very heart of contemporary globalization (Lee 2002). Yet, cultural globalization did not start with the worldwide dissemination of rock 'n' roll, Coca-Cola, or football. Expansive civilizational exchanges are much older than modernity. Still, the volume and extent of cultural transmissions in the contemporary period have far exceeded those of earlier eras. Facilitated by the Internet and other new technologies, TV shows and mindless advertisements, these corporations increasingly shape people's identities and the structure of desires around the world (Tomlinson 88). During the last two decades, a small group of very large TNCs have come to dominate the global market for entertainme nt, news, television, and film. In 2000, only ten media conglomerates - AT&T, Sony, AOL/Time Warner, Bertelsmann, Liberty Media, Vivendi Universal, Viacom, General Electric, Disney, and News Corporation - accounted for more than two-thirds of the $250-275 billion in annual worldwide revenues generated by the communications industry (Tomlinson 54). In general, cultural imperialism means promotion and spreading of one culture into another. "Cultural imperialism has been conceptualized variously as a strategy on the part of dominant countries, a local policy on the part of receiving countries, and an effect on the people and practices in the latter. Dominant nations have clear strategies concerning the export of cultural products" (Crabtree and Malhotra 364). As recently as 15 years ago, not one of the giant corporations that dominate what Benjamin Barber has appropriately called the 'infotainment telesector' existed in its present form as a media company. In 2001, nearly all of these corporations ranked among the largest 300 non-financial firms in the world. Today, most media analysts concede that the emergence of a global commercial-media market amounts to the creation of a global oligopoly similar to that of the oil and automotive industries in the early part of the 20th century (Tomlinson 74). The crucial cultural innovators of earlier decades - small, independent record labels, radio stations, movie theatres, newspapers, and book publishers - have become virtually extinct as they found themselves incapable of competing with the media giants. The negative consequences of this shotgun marriage of finance and culture are obvious. TV programs turn into global 'gossip markets', presenting viewers and readers of all ages with the vacuous details of the private lives of American celebrities like Britney Spears, Jennifer Lopez, Leonardo DiCaprio, and Kobe Bryant. Evidence suggests that people all over the world - but especially

Muscle Dysmorphia Research Paper Example | Topics and Well Written Essays - 500 words

Muscle Dysmorphia - Research Paper Example pite injuries, extreme dieting plus diet supplements and steroids for increasing lean muscles and lack of personal relationships due to limited time required for engaging socially (Grieve & Shacklette, 2012). A driving force behind men developing MD is a sense of them being dissatisfied with their bodies. This occurs when an individual is obese or over weight and has the desire to lose weight or is underweight as well as having the desire to gain some weight. Body distortion is also another factor contributing to contraction of this problem MD. People who feel and believe that they are smaller or bigger than their actual size are at an increased risk of developing MD. The media also plays a big role in development of MD. This is because it depicts the ideal body shape, which has negative effects on body satisfaction in men. Ideal body internalization is the acceptance of the ideal body shape for which all males should strive to achieve and leads to MD (Grieve, Truba & Bowersox, 2009). Men participating in sports have a likelihood of developing MD especially where they have to maintain a certain weight or where they need to increase muscle mass or body size. Low self-esteem is another factor that independently influences the development of MD. People whose self-esteem depends on appearance have a high likelihood of developing MD (Grieve, Truba & Bowersox, 2009). Studies also show that feelings of anxiety and depression directly influence the development of Muscle Dysmorphia. This is because MD provides an individual with the motivation to change appearance and/or behavior (Grieve & Shacklette, 2012). MD is problematic because of the prevalence of sex hormones, anabolic-androgenic steroids and other muscle enhancing substances. As much as anabolic-androgenic steroids increase muscle mass, they have serious psychological and physical side effects that include cholestatic jaundice, stroke, hypertension, pulmonary embolism, blood clots, mood changes, psychotic

Samsung Case Analysis Essay Example for Free

Samsung Case Analysis Essay 1. HISTORY Samsung Electronics is a South Korean multinational electronics and information technology company. It is the chief subsidiary of the Samsung Group that was established in 1969, and its headquarters is located in Samsung Town, Seoul. Samsung Electronics is one of the largest electronics producers in Asia, and its product line includes semiconductors, televisions, telecommunication equipment, computers and many other kinds of home appliances. The Samsung Electronics unit was created to get into the prosperous television and consumer electronics industry. Its first product was a small simple black-and-white television which was sold in the early 1970s. The division developed a diverse line of consumer electronics, and while in its beginning products was only sold domestically; exporting goods began a few years later. It took the company savvy management and huge investments in research and development, but Samsung Electronics expanded their products to creating color televisions and a variety of other consumer electronics and appliances. The company manufactured, shipped and sold a broad range of these appliances and electronic products worldwide by the 1980s. The fast progress and success of Samsung Electronics was not a surprise to people who knew the founder of the Samsung Group, Byung Chull Lee, a highly praised Korean entrepreneur. He overcame several obstacles with the small trading company he founded in 1938. Starting with a $2,000 nest egg and 40 employees, he was one of the ten largest trading companies when the Korean War started. The conquest of Soeul by the North Korean army forced him to give up his operations in 1950. However, one year after losing almost all his inventories and relocating to Pusan, Lee started the company over again with the help of the savings of one of his managers. After only one year, the company had experienced unimaginable growth and its assets twenty folded.Lee, being an entrepreneur that was always looking for more opportunities, founded Cheil Sugar, a sugar refinery in 1953, which became a very profitable business that allowed him to expand into a wide variety of markets. These included insurance, broadcasting, securities and even department stores. Lee was heavily criticized for some of his actions, such as building the â€Å"first manufacturing facility in South Korea after the Korean War† but many of his companies prospered under his vision of making Samsung the leader in every industry he entered. Despite facing major setbacks and fighting political battles in the 1960s, Samsung generated revenues over US $100 million annually. Lee not only broke into â€Å"the mass communication industry by launching a radio and television station†, but also founded Samsung Electronics. Entering the manufacturing televisions and electronics components industry, one that was under the control of US and European companies, seemed to be a risky venture, but Lee succeeded with the help of the national government. The head of the state, Park Chung-Hee encouraged the growth of dominating domestic industries in contradiction to his predecessor, who ruled with favoritism and corruption in order to keep his power. Park protected major industries and the larger companies in South Korea from foreign competition and gave out financial assistance as a part of his economic growth plan. The Samsung Group was one of the main beneficiaries, profiting from the ban on several countries to import consumer electronics, thereby eliminating the big competitors in the home market. As the company was trying to establish itself in the television industry, it added consumer products and appliances to its product lines. In addition to the ban on imports from certain countries, the government also prohibited foreign companies to invest into Samsung, while Samsung was still allowed to invest in overseas businesses. As a consequence, Samsung Electronics rapidly controlled parts of the home market while it also started exported successfully. As Lee had already predicted in the first decade of its existence, Samsungs Electronics division was the main industry for the company’s future. To ensure that Samsung became a major player, he entered the semiconductor business in 1978. Government regulations again played in the entrepreneur’s favor, as foreign telecommunication equipment manufacturers were required to provide semiconductor technology in return for access to the Korean market. In 1983, after receiving proprietary technology from Micron (USA) and Sharp (Japan), Samsung became the first Korean manufacturer of DRAM (dynamic random access memory) chips. Producing relatively low-tech DRAM chips at a lower cost, Samsung Electronics became a large supplier to computer and electronics manufacturers throughout the entire world within the next couple years. Samsung Electronics increased its efforts on other electronics operations in the meantime as well. Assembly plants were built in Portugal (1982), New York (1984) and England (1987). Together these plants produced 1,700,000 televisions, 700,000 microwave ovens and 300,000 VCRs. Thus, Samsung Groups annual revenues rose to $24 billion in 1987 (from $1.3 billion ten years earlier), which equated about a fifth of South Koreas entire GDP. Most of that growth resulted of Samsungs Electronics success. Despite the death of its founder Byung-Chull Lee, sales for the Samsung Group almost triple folded between 1987 and 1992. His successor, his son Kun-Hee Lee, did not only recognize the importance of the electronics division but moved it to the core of the Group. He combined several divisions and removed some operations while introducing different ideas that were put in place to enhance product quality and employee motivation. Lee focused on pushing Samsung to become a technological leader in the semiconductor, electronics and communication industry and doubled research and development investments. He was also credited for intensifying partnering efforts with foreign businesses to make Samsung the pioneer in the semiconductor technology. During the 1990s, Samsung underwent a groundbreaking change. After Samsung begins to reinvent through design (1993), sets up its in-house design school (â€Å"The Innovative Design Lab of Samsung†) and hires design consultancy IDEO to help develop computer monitors (1994), its biggest change had yet to follow. With the appointment of Yun Jong Yong as the President and CEO, Samsung changed its strategy drastically. Despite making profits as an established low cost supplier of many components to larger and well-known companies as well as providing customers with lower-priced appliances that were more affordable than the more expensive products by brands such as Sony, Yun was worried about the company’s future. He could not envision the company continued success on a low cost strategy with products whose technology had been developed by others. Yun believed that it was not secure to expect to be continuously able to scout for low-cost production locations successfully while retaining high volumes of production. This concern mainly a rose out of the emergence of many low-cost producing countries such as China. The CEOs scare became reality as within the first year of his tenure serious financial trouble threatened the company’s survival. Huge debt and the economic crisis in Asian resulted in the loss of millions of dollars and Yun stated that â€Å"if we continued, we would have gone belly-up within three or four years.† (Dess, 2010, p. C123). A turn-around was the much needed consequence. After trying to continuously compete in a price-cutting environment and increasing volume throughout the economic recession, Samsung Electronics had to lay off more than one-third of its workforce, which accumulated to about 30,000 employees. To get rid of its large inventory, many factories were closed down for more than 60 days. The company also sold off $2 billion worth of business that it perceived to be with minimal significance for its future. Yun decided to move Samsung’s future away from a company based on a lower-cost strategy to one emphasizing product development that woul d ultimately impress their consumers with their attractive design and advanced technology. Developing Samsung into a premium brand was the vision of the leader, and he recruited new managers. Yun removed the seniority-based system and put a merit-based system for advancement in place. These efforts resulted in the construction of newly designed products such as the largest flat-panel televisions, cell phones with new features (Cameras, PDAs, etc.) and thinner notebooks and computers than ever before. Hiring Eric Kim, a marketing whiz, who changed the advertisement agencies from 55 to one to create the same brand image anywhere in the world, worked hard to place a more upscale image of Samsung products into consumers’ minds. To undermine this perception, Samsung pulled out its products of big discounters such as Wal-Mart or Kmart and placed these into more expensive retailers (e.g. Best Buy, Circuit City). Yun was aware of the fact that the company would only be able to maintain its higher profit margins if the firm was able to bring its products faster to the market than its competitors. To ensure a sustaining model of this competitive advantage, the CEO removed several layers of bureaucracy to win approval for new products, budgets and marketing plans. Second steps to maintain an advantage are the huge investments in key technologies. The company has invested more than any of its rivals in research and development (RD), as it almost puts 9% of its revenues aside just for RD. To decrease the time of innovative product development, the large number of designers and engineers that are working in 17 locations throughout the entire world are not only facing the pressure from their own management but also competes with outsiders. Samsung attributes these strategies to its success in the effort of decreasing the time from a â€Å"new product concept to rollout† (Dess, 2010, p. C124). from over a year to â€Å"as little as five months† (Dess, 2010, p. C124). The determined work of the firms top manager, designers and engineers in the firms VIP center is at the core of the products rapid innovation and production. The reduced complexity for project teams in the design cycle’s early stages allows the company to move its products quicker to manufacturing while reducing problems and costs. Jung, a senior manager of the center states, explains that: â€Å"Seventy to eighty percent of quality, cost and delivery time is determined in the initial stages of a product.† (Dess, 2010, p. C124). A senior VP of Best Buy, George Danko, affirmed that â€Å"they will get a product to market a lot fast than their counterparts.† (Dess, 2010,p. C125). Among Samsungs first-to-market products are the first voice activated phones, handsets with MP3 Players and digital cameras that send photos over global systems for mobile communications networks. In addition to that, the firm was first to market projection TVs using new chips from Texas Instruments that employ digital-light processing. (Dess, 2010, p. C125).Yun envisioned that the company’s digital technology advances can result in a po ssibility of dominating the â€Å"digital home†, a home where he envisions that all appliances (from computers to refrigerators) are linked to each other and are capable of adapting to the personal needs of every individual consumer. One of the first products that have been brought to the market includes NEXiO, a combination of a cell phone and a handheld computer, or the Zipel, a refrigerator that has a 15-inch touch screen in its door that allows consumers to browse the web. To emphasize the importance of design, Yun implemented quarterly design meetings with top executives and opened or expanded design centers in San Francisco, London, Tokyo, Los Angeles and Shanghai. Additionally, the post of chief design officer was created who ensures that designers can get their ideas to top managers. (Dess, 2010, p. C125). Despite all the improvements that Samsung Electronics made since the mid-1990s, Lee Yoon Woo replaced Yun as the CEO in May 2008. After a tax evasion scandal that involved the parent firm Samsung Group, a major-shakeup along the top executives occurred that not only reassigned over half of its executives to new positions but also introduced many younger executives to various leadership teams. The purpose of the restructuring was to increase efforts and deal better with the prevailing bad economic conditions. Samsung went into the economic recession with a market value of over $100 billion, thus placing them in an elite market position shared only with three other Asian firms. Samsung moved past big players on the market such as Nokia, Sony and Motorola, thanks to their revolutionary products. The efforts to improve design by overhauling it design every two years has been paying off and Samsung won well over 200 awards from internationally prestigious design institutions since 2006. Even though Samsung prides itself of having lower cost structure compared to most of its rivals, the firm experienced its first quarterly losses in the last three months of 2008, when the company lost $14.4 million. This is Samsungs first net loss since it began reporting quarterly results in 2000. The overproduction of memory chips and liquid crystal displays (LCDs) worldwide was mentioned as the main reason resulting in a quarterly loss. Despite recording a quarterly loss, the company still made a yearly profit in 2008 and has increased its revenues steadily in the past decade. Samsung underwent two major restructures in the last three years, one in 2009 when the company began to slim down operations into two divisions from the five separate ones it had the year before. It also appointed Choi Gee Sung the new CEO shortly after the company made him the head of the newly formed digital media and communications unit. Chois appointment was a breakthrough for Samsung Electronic as it previously only picked top managers that had their backgrounds in engineering. In December 2010, Samsung underwent the second restructuring as it switched its management style from the single CEO system of the previous year to a two person management team. Choi Gee Sung remained the CEO of the company but was named Vice President and Lee Jae Yong is now the President and COO (Chief Operating Operator). The firm also added a digital imaging business division so that Samsung Electronic currently consists of eight divisions. (FundingUniverse, 1999) 2. VISION As Samsung stated in its new motto, the company’s vision for the decade is to Inspire the World, Create the Future. his new vision reflects Samsung commitment to inspiring its communities by supplying Samsungs three key strengths: â€Å"New Technology,† â€Å"Innovative Products,† and â€Å"Creative Solutions.† Samsung has also established three strategic approaches in its management: â€Å"Creativity,† â€Å"Partnership,† and â€Å"Talent.† As part of this vision, Samsung has mapped out a specific plan of reaching $400 billion in revenue and becoming one of the world’s top five brands by 2020. Samsung states that it looks forward to increase its diversity by exploring new territories, including health, medicine, and biotechnology. (Samsung, 2010) 3. BUSINESS DIVISIONS 1. Visual Display Business Samsung Electronics has achieved the world’s No. 1 market share in TVs for five years in a row since 2006. After establishing the new market for LED TVs in 2009, the firm has extended its competitive lead with sales of 45.11 million TVs. That included 39.26 million flat panel TVs in 2010, as the Full HD 3D LED TV became readily available. Samsung also leads in the next generation market with total sales of 3D TVs (2 million in 2010). Samsung Electronics announced a monthly record this past October 2011 as it sold more than 1 million units in the United States. A company official was stated: â€Å"Selling over 1 million units in the North American market in just one month is a first for the company, but it is also unprecedented in the industrys history.† According to the official, the company was experiencing increased demand in the â€Å"premium TVs , e.g. the 3D and especially smart TVs, which were just released in 2011 and featured Full HD picture quality and Smart Hub options. Samsung announced that the global share of its 3D TVs came to over fifty percent as of last months ending. Meanwhile plasma display panel (PDP) TVs also reached 40%. [pic] (Samsung,2010) 3.2. IT Solution Business After the implementing of Samsung’s global marketing strategy for mobile PCs, Samsung Electronics realized rapid growth and reached sales of 10 million units in 2010 worldwide. The firm launched a printer for consumers that supports mobile printing. Samsung Electronics provides business customers with a complete product line, including the first dual core CPU-equipped printer on the market, a multifunction printer and an A3 copier. The easy-to-use features and the products powerful performance secured second global market share in the A4 laser printer category in 2010. Samsung Electronics led the world market in the categories of mono laser multifunction printers and color laser multifunction printers for the second consecutive year. In the future, the firm expects to achieve strong growth by launching an ultra-light high-performance laptop for the premium market and by bolstering its business-to-business (B2B) product line. Samsung Electronics anticipates continuing growth in the printer business in the upcoming years. [pic] (Samsung, 2010) 3.3. Digital Appliance Business Samsung Electronics is strengthening its brand image by introducing premium home appliances that offer essential services for daily life. In 2010, innovative products such as the twin cooling side by-side refrigerator; the front loader washer with vibration-reduction technology, the energy-efficient air conditioner; and air purifiers with humidification that maintain clean air quality in rooms resulted in great response worldwide. Samsung brought innovate, smart appliances to the market that deliver gracious and convenient lifestyle options such as Samsung’s autobot vacuum cleaner that cleans rooms automatically. Other products include kitchen ranges and microwaves that offer cooking features suitable for anybody. Samsung Electronics will extend its market leadership by releasing additional premium appliances. These will be supported by strong marketing with the purpose of becoming the world’s most trusted digital appliance brand. [pic] (Samsung, 2010) 3.4. Mobile Communication Business In 2010, Samsung Electronics reinforced its market leadership by achieving sales of 280 million mobile phones worldwide. This number is up 23% compared to 2009. The flagship GALAXY S model posted sales of 10 million units, while the GALAXY Tab also led the Android tablet PC market, earning great customer reviews. The firms leadership in full touch and messaging mobile phones continued in both advanced and emerging markets. Samsung Electronics plans to aggressively challenge a vey competitively growing market. It launched the GALAXY S II, the company’s flagship smartphone, only one day after Apple announced the new iPhone 4S and the Samsung phone received great feedback. The firm plans to keep expanding and improving its unique mobile solutions as it strengthens its competitive lead in both services and content. [pic] (Samsung, 2010) 5. Telecommunication System Business Samsung Electronics develops forward-looking products for two major 4G platforms, the Long Term Evolution (LTE) and the Mobile WiMAX (WiBRO). In 2010, the firm established the first LTE commercial services network in the US and currently expands in North America, Asia and Europe. Mobile WiMAX—introduced by Samsung Electronics and adopted as a global standard in 2007—has been experiencing dramatic growth in major mobile communications markets, including the US, Japan and Saudi Arabia. Based on its established technology leadership, the firm is expecting to lead the worldwide mobile broadband market in the upcoming years. [pic] (Samsung, 2010) 6. Digital Imaging Business Samsung Electronics is working hard on its brand image and recognition to become a premium brand by introducing a rising number of premium digital cameras and digital camcorders. The product line of interchangeable lens digital cameras was extended in the last year and the newly released mirror less digital camera (NX11) secured the firms competitive lead over professional optical brands. Samsung plans to continue to debut world-first and world-best cameras such the ST700 Dual View camera (which offers excellent image quality plus fun and convenient self-portrait option), the EX1 (the world’s first ultra-wide F1.8 zoom lens), the SH100 (which features Wi-Fi (DLNA) functionality) and many others. [pic] (Samsung, 2010) 7. Semiconductor Business Samsung is the worlds second largest semiconductor manufacturer and is the industry sales and technology leader in the areas of DRAM, SRAM, NAND Flash and TFT-LCDs. A key partner and premier supplier to the global IT industry, Samsung Electronics offers the widest range of advanced semiconductor devices and solutions for PC, server and mobile applications. The firm intends to play a major role in the growth of the green IT industry as they implement their Green Memory strategy, which emphasizes high-performance memory products with lower power consumption. Samsung Electronics differentiated product competitiveness has awarded the company the No.1 position in the worldwide memory market for 18 years in a row. The company consistently leads the industry, and began the world’s first mass production of 30nm-class 2Gb DDR3 DRAM, 30nm-class 4Gb LPDDR2 DRAM, 20nm-class NAND flash memory, 512GB SSD and more. In the storage systems division, the firm introduced high-capacity hard disk drives (HDDs) to the market, including a 2.5 inch 334GB HDD and a 3.5 inch 667GB HDD. [pic](Samsung, 2010) 8. LCD Business Being the industry leader, Samsung Electronics has achieved the No. 1 market share for LCD panels for nine consecutive years. The industry-first active 3D technology supports True 240Hz for 3D TV, which has reinforced Samsung’s leadership.Samsung released trendsetting displays as such as an LCD panel for the tablet PC (which offers vivid colors at a wide viewing angle), a low-power IT panel built with advanced LED backlight technology and more innovations were key to the firms leadership. In 2011, Samsung has been improving its product leadership as they developed differentiated offerings, including ultra-large panel technology, a full range of LED LCD panels, high-value IT products and DID panels. For the future, Samsung stays committed to research and development to produce tomorrows best products. That includes focusing on an oxide semiconductor panel, plastic LCD, transparent LCD and developing high efficiency solar modules. The firm’s goal is to develop the industr y’s most efficient and highest quality products. [pic] (Samsung, 2010) 4. FINANCIAL INFORMATION Samsung Electronics has been increasing its sales from 2008 till 2010 by more than 10% annually. These are extraordinary numbers, given the economic circumstances in todays (western) world. Despite big investments in research and development, the firm managed to almost double its net income from 2008 to 2009 and almost triple it from 2008 to 2010. [pic] (Samsung, 2010) Samsung Electronics experienced an increase in revenue in the first 6 month of the fiscal year of 2011 compared to the first two quarters in the previous year. However, this increase in revenue did not result in an increased operational profit in that period. As shown in appendix 1, the main reason for the decline in operational profits are two factors: increased cost of sales and increased research and development expenses. Stock Information Samsung Electronics stock trades on the stock markets in Seoul, London, and Luxemburg. Samsung Electronics stock is listed on the Korean Stock Exchange as 005930. As the chart below indicates, Samsung Electronics stock price has been considerably grown in the last two decades. However, it experienced many setbacks, the latest ones in the latter of half of 2008 and beginning of 2009 as well as during the third quarter of 2011’s fiscal year. The worldwide economic recession and first quarter losses in last decades in the fourth quarter of the year 2008 were responsible for the declining demand of stocks, while this year’s first half decline is probably most attributed to the slowing world economy. However, the stock price rose to the level of the years beginning in the late summer this year. 1 KRW (South Korean Won) = 0.00089 US Dollar (as of 11/9/11) [pic] (Market Watch, 2011) Financial RatiosRatio data as of 06/30/2011 [pic] (Bloomberg Businessweek, 2011) In the following, I will discuss three major financial ratios. 1. Return on Assets: Return on Assets is an indicator of how profitable a company is relative to its total assets. The ratio gives an understanding of how efficient management is at using its assets to generate earning. Samsung Electronics Return on Assets is 6.87%, a number that is a little below industry average and shows that the company can definitely improve its efficiency. 2. Cash Ratio: The cash ratio is the most conservative ratio for measuring liquidity and is often used during periods of economic turmoil because cash is the most important asset many companies possess in difficult times. If a company has a ready supply of cash, it can survive sudden drops in sales that might put another less liquid company out of business. Samsung Electronics Cash Ratio (1.6x) is generally speaking a decent number and as indicated above an above average number compared to the industry. 3. Total Debt/Equity The total debt/equity ratio is calculated by dividing the firm’s total liabilities by stockholders equity and indicated what proportion of equity and debt the company is using to finance its assets. High debt/equity ratios generally mean therefore that a company has been aggressive in financing its growth with debt, which can result in unstable earnings as a result of the additional interest expenses. Samsung Electronics 11.6x Total debt/equity ratio is a high number that gives some room for concern, as high interest rates could have a negative impact on the companies financials. 5. SWOT Analysis The SWOT analysis will examine the internal and external factors influencing Samsung Electronics. It will identify the strengths, weaknesses, opportunities and threats for the company. Samsung electronics has many strengths that can be pointed out. First, they are a very innovative company. As part of their new strategy they have begun developing its own products rather than copying those of other firms. In fact, they invest 9% of their revenues into research and development. This has helped them to gain a competitive edge. Also they switched to a merit-based system for advancement rather than a seniority based system. We believe this is effective because it will motivate employees to work harder knowing that if they perform, they can advance with the company. Interior competition is also healthy to a certain extent. Samsung encourages its two divisions to compete with each other to boost sales and innovation. Also Samsung is very efficient and effective in their product development process as well as getting the product to market. They lead the industry in this and can get a new product developed and released in as little as five months. Another key strength is their brand name. Samsung is recognizable all over the world as a top quality company. Next it is important to exploit Samsung’s weaknesses as a company in order to identify their key issues. The first is interior competition. Note that this was also listed in strengths, but if pushed to far can be a detriment to the company. Too much competition between divisions could cause a loss of focus on the company’s overall vision and more focus on beating each other. This could also cause the divisions to think more short-term rather than focus on sustainability. Also, the company is reluctant to branch out into music, movies and the game industry. Branching out could increase their revenues tremendously and sky rocket the company’s business. Their former low cost structure should be pointed out as well because they focused less on quality and more on cost, which essentially kept them from becoming a premium brand that appeals to a more luxury consumer demand. Overall Samsung has many opportunities to take advantage of. The first is their innovation; with this they hope to expand into creating the full â€Å"digital home† experience. This means that they wish to change the way our homes our designed and essentially used with the use of their technology. This could be a huge cash cow for the company and could create a constant stream of revenues. In addition, they could begin to aggressively pursue and acquire other technology companies in markets that they are not currently in. They have already started this with the failed attempt to acquire SanDisk, a company that makes storage cards and other such products. Furthermore, they should continue to build new factories around the area in low cost areas. Keeping production costs low is a key factor in increasing and maintaining the highest possible profit margin. Due to the innovation and research of Samsung they could penetrate many new markets as well as expand market share. Samsung Electronics also faces many external threats. The current economic state of key areas such as the United States has caused a large decline in demand. This means that they have a large amount of inventory sitting in warehouses. This could put a damper on a company’s financial situation due to holding costs and a decrease in revenues. Also if there is an overcapacity in global production this could drive down prices. When prices are driven down; profit margin decreases and your company could feel the financial impact. Lastly, there is a large amount of competition in the industry. It is important to stay innovative and one step ahead of your competitors to m aintain market share. 6. Porter’s Five Forces The threat of new entrants is relatively low in this industry. The majority of the companies in this industry are established and operating at a very high output. It is hard to enter the market due to the extremely high amounts of costs put forward to research and development, as well as bringing your product to the consumer. Next, there are very many substitutes to the products that Samsung offers. There are many companies competing in the electronics field and they are constantly looking to gain market share. Also companies in the technology industry are constantly copying each other’s innovations in hopes of improving them. The bargaining power of the buyers is high in this industry. The consumer has a large array of options and substitute products. This enables them to have a large impact on the price of the product. This is why it is important to keep your prices competitive. The bargaining power of suppliers for Samsung Electronics is low. This is due to the large market share that the company has. The company develops and manufactures their products in house, which enables them to have more control over their complete supply chain. Ultimately this helps them to be more efficient and keep costs down. Within the electronic industry, there is a very large threat of competition. They face strict competitors such as Sony, Panasonic, Hitachi, Philips, and Sharp to name a couple. This is why it is important to stay innovative and keep emphasis on quality, as well as satisfying your consumers’ needs. 7. Problems There are many problems that Samsung faces as a company. We do not believe they are being aggressive enough in entering new markets. The cost of losing opportunity while it is there could be detrimental to the company. Also, because the technology business is always rapidly changing, they could lose sight on the overall long-term growth of the company. Samsung also has very high operating costs because of the constant amount of research and development they use. The company should actively seek ways to become more efficient to keep costs low. High costs and lack of demand have caused their profit margins to decrease. A lack of an internal distribution system could also drive costs up. A problem in the general environment that diminished Samsung’s return is the global economic slowing growth (or in parts also recessions) that Samsung has to keep considering carefully in its product investments and overall company strategy. Our own research conducted in the local Best Buy store also pointed out that even though Samsung’s smart phone series Galaxy is growing in market share, it consistently has lacks and downtimes, which frustrates many of the customers. 8. Solutions/Suggestions There are many possible solutions to some of the internal and external issues that Samsung is experiencing. First, we believe that Samsung should branch out into music, movies and the game industry. This could help the company to expand in a positive manor and could open up many new markets to them as well. Next it is important to keep planning for long-term sustainable growth. Samsung should continuously invest in new technology to keep its market share. Also, they should take full advantage of opportunities to acquire other business entities in new markets. They should take a proactive approach to expansion to help them gain and maintain a competitive edge. The company should also keep looking for new ways to keep their operating and manufacturing costs low. They could even look into bringing their distributors in house by buying them out, or even implement their own distribution division. This could be very effective in keeping distribution costs low. Samsung also has to solve the ongoing problems with its leading smart phone on the market, the Galaxy. Bibliography Dess, G., Lumpkin, G, Eisner, A. Strategic Management Text and Cases.(2010). New York, New York, McGraw-Hill Irwin FundingUniverse. (1999). FundingUniverse. Retrieved 11 10, 2011, from Samsung Electronics Co., Ltd.: http://www.fundinguniverse.com/company-histories/Samsung-Electronics-Co-Ltd-company-History.html Samsung. (2010). Samsung. Retrieved 11 10, 2011, from Samsung Electronics: http://www.samsung.com/us/aboutsamsung/ir/financialinformation/annualreport/downloads/2010/SECAR2010_Eng_Final.pdf Market Watch. (2011, 11 9). MarketWatch. Retrieved 11 10, 2011, from Samsung Electronics Co. Ltd. GDR Pfd. 144A: http://www.marketwatch.com/investing/stock/ssngy Bloomberg Businessweek. (2011, 11 10). Businessweek. Retrieved 11 10, 2011, from SAMSUNG ELECTRONICS CO LTD : http://investing.businessweek.com/research/stocks/financials/ratios.asp?ticker=005930:KS