Robert Siricos Samaritans Dilemma :: essays research papers

In the article Samaritan’s Dilemma, Robert Sirico claims that cause isn't generally useful to society. He infers that a few people exploit others thoughtfulness, for this situation, soup kitchens. To help his case, Sirico recounted to an account of when he was preparing to be a minister. He expresses that every Friday he would help set up and serve a free dinner to those out of luck, normally 200 to 500 individuals. One Friday after the feast, he and a companion tidied up then went to a fish bar directly down the road. While eating the two men understood that the soup kitchen they had recently got done with working at was rivalry to the fish bar and other encompassing eateries. They understood that their foundation was making it harder for different business visionaries to get by and accommodate their families. Sirico fundamentally expresses that when individuals are looked out for â€Å"hand and foot† they become increasingly dependant on others, along these lines, making it significantly harder for them to escape destitution. He likewise infers that offering â€Å"handouts† to individuals supports sluggishness. He says, â€Å"When noble cause makes a disincentive for a physically fit individual to work, it drives this individual down an inappropriate way. It supports inactivity. Genuine work furnishes the person with the vehicle for a beneficial and ethical life. It gives an individual confidence and a task to carry out in society.† The help he utilizes doesn't support his case, however. For instance, the examination Sirico makes of the soup kitchen to a fish bar is immaterial. He states, "Just a street or two away we give an item and a help that put forth this present man's attempt to accommodate his own family more difficult.† A soup kitchen and a fish bar are not similar. The bar has the goal to bring in cash, though a soup kitchen isn't keen on cash. Soup kitchens are there with the end goal of individuals who can't bear to eat at different spots. The speaker never expresses the costs or nature of food at the bar. This data would enable the peruser to perceive the likenesses and contrasts between the two. Sirico neglects to make reference to different cafés that are additionally the bar proprietor's opposition. Encompassing cafés might be taking business from the bar, not the soup kitchen. What's more, Sirico utilizes lacking individual experience to propose that individuals are exploiting n oble cause. In the wake of watching individuals going to the soup kitchen, Sirico saw a couple that "told me they expected to eat rapidly in light of the fact that they were intending to go out to shop after supper.

Benefits Of Outsourcing To Host Country

Advantages Of Outsourcing To Host Country Regardless of the ongoing worldwide monetary downturn, the overall business redistributing market has accomplished huge development, According to one of acclaimed International speculation consultancy firm known as â€Å"McKinsey and Company† predicts that the interest for re-appropriating administrations will acquire $230 billion by in 2011 from entire universes and it will develop and by 10.5 percent (compound yearly development rate.). In the present business world numerous enormous associations are redistributing different occupations for instance call focus administrations, finance, email administrations, Business Process Outsource and HR. As model: HSBC Bank has redistributed their call communities and Electronic Data Processing at India and Sri Lanka. AVIVA Insurance re-appropriated their call communities at India and Sri Lanka. IBM has re-appropriate business Transformation framework and client contact work [call centres] at India 1.1 Outsourcing can be characterized a s contact between two organizations to offer types of assistance which may some way or another be performed by in-house representatives. In today’s world there is pattern of redistributing .Many worldwide organizations are presently re-appropriated different degree of employments, as model, for example, call focus administrations, finance the executives mail administration help. These redistributed employments are dealt with by organizations who have skilful works who practice to give in administrations which are situated outside the nation of origin. In today business world Outsourcings has become most recent pattern which is getting progressively basic in data innovation field. 1.2 Reasons for Outsourcings There are different purposes for outsourcings. Following segment will depict the explanations behind redistributing: Improve Goal Congruence Outsourcing permit the executives to make consideration on the imperative or center business issues related with addressing client needs and keeping up everyday issues. Outsourcings Allow To Access World-Class Capabilities Each documentation is specialization in their own center exercises. Ex: Qualitative work India. Advance innovation China and Japan. Re-appropriating permit to get to world-class capacities, including inventive innovation, etc Share Risks With Different Peoples Outsourcing permits the board spread certain degree of dangers as model interest fluctuation and capital ventures. Supplier Free Resources for non center exercises Outsourcing permitting association to focus on non center exercises and it permit to assign those free assets among different exercises Reducing Cost By Economic Of Scale Outsourcing permits association to offer types of assistance at lower cost structure, which came about because of economies of scale. Decreasing expense is the most convincing purposes behind re-appropriating. Permit To Use Resources Not Internally Accessible Outsourcing is most ideal open door for organizat ions that can possibly quick development, venture into another geology region , or side projects . Redistributing Allow to utilize Resources not inside open Allow To Mange Functions Are Difficult Control issues are a one of significant purpose behind re-appropriating. Be that as it may, chiefs need to discover hidden foundations for challenges instead of re-appropriating Even however there are different explanation for re-appropriating , capacity of acquiring cost points of interest is The primary goal of re-appropriating is, But part of associations are neglect to understand any cost favorable circumstances got from re-appropriating. The celebrated speculation organization â€Å"Gartner† is prescient that in 2009, 80% of associations redistributed by having essential objective of coat slicing bit they can't accomplish their essential objective of cost cutting, in light of the fact that there are different concealed expense of re-appropriating. For example, re-appropriating o rganizations have significant level of staff turnover rates than different associations ,Normally it is high as 80% †100%, cost of losing customer because of increments of dissatisfaction. In this manner re-appropriating must be completely checked. Can without much of a stretch fall flat.

What is the Bretton Woods Agreement

What is the Bretton Woods Agreement At the start of the 19th century, free trade, globalization, and international trade became the new economic system and numerous steps have been taken since then to create schemes and policies which ensure the strength of the international monetary system.It’s quite obvious that the world economy has never functioned in a perfect state; however, the aim to attain such has never dwindled.Between 1944 to 1977, the worlds economic system went through the Bretton Woods era; one of the only few successful policies the world powers developed in attempting to attain economic utopia.Even though it only existed for a brief period, it has been termed one of the most powerful international monetary systems.The economic growths and stability of the era were so impressive that there have been numerous talks for the return of the system.As the chart below shows, after the fall of the Bretton Woods System, there has been much financial crisis. This is why the system has been considered again as a solution. Source: Bretton Wood ProjectWHAT IS THE BRETTON WOODS AGREEMENT? The Bretton Woods Agreement was developed after the Second World War by all Allied nations which participated in the war. It happened in 1944 at Bretton Woods, in New Hampshire.Bound by the agreement, the various nations in participation agreed to maintain a fixed exchange rate at their individual central banks.This fixed rate was between their currencies and the United States dollar.The system was to work in such a way that if a particular nation’s currency value began to fall in relation to the dollar, the bank would purchase its currency.This would be done in foreign exchange markets and would result in the currencys supply lowered simultaneously, raising its price.If on the other hand for currency rises too high, it necessitates that the bank would have to print more, which would result in low price and increased supply.Asides from these the various members of this agreement or system agreed to not engage in trade wars.For instance, a country would not decrease its currency for the sole purpose of trade increment.However, it permitted the nations to regulate their currencies in specific conditions, such as when direct foreign investment is responsible for the destabilization of their economy or readjust currency values in order to stabilize their economy in the aftermath of a war.BRIEF HISTORY OF THE BRETTON WOODS AGREEMENT AND NOW IT WORKEDAfter the Second World War had ended, Over 40 allied countries, inclusive of Argentina, meet in Bretton Woods, United States, in the Mount Washington Hotel.They had a major motive of this meeting and it was to correct the damages of the post-war era.The post-war era was characterized by international economic chaos, such as beggar-thy-neighbor economic policies, which saw nations trying to get out their depressed conditions embrace them. However, this was done at the expense of other nations.Hence, the overall purpose of the convergence was to enable a st able exchange rate with the secondary purpose of the promotion of world peace.There was agreed for the need of an institutional body for International cooperation with regards to monetary matters.This was so that in the outbreak of worldwide challenges, such as the world war there would exist, an internationally recognized solution, instead of individual nations embracing selfish systems.THE MAKEUP OF THE SYSTEMPrior to the 1944 meeting in Brent Woods, New Hampshire, the need, had been recognized.This recognition sparked discussions between the American and British governments, as well as their economic advisors, who had proposed various plans.These economic advisors included Lord Keynes of the United Kingdom on one hand and Harry Dexter of the United States Treasury on the other.Hence, the Bretton meeting was basically for mere formalization as well as closing the agreements previously embraced.The final decisions that were embraced during the conference at Bretton Woods were major ly from the United States end. This proved the military and economic prowess of America during this period.The fact that power was concentrated in the vault of a few nations and all countries involved had a singleness of mind in reaching a specific goal (of course not in for policies with which these goals were to be achieved).And also, the ability and willingness of the United States to take the reins of leadership were part of the reasons the Bretton Woods Agreement saw much success.HOW IT WORKEDThe system of the Bretton Woods Agreement was created in such a way as to incorporate the positives of both a flexible exchange rate known as flexibility and a fixed rate system like the gold standard which was a stable exchange rate.This occurred because, after the Second World War, the United States of America possessed gold reserves which totaled 705,479,239 ounces or about 20,000 metric tons, which at the time was 60% of the world gold supply.What this implied to the financial confiden ce of the dollar is that it could command a buying rate of 35 dollars per gold ounce, hence making the United States dollar more stable than any other currency post world war 2. Source: Logic TankThis introduced a system termed the adjustable peg rate. The Peg and Exchange Convertibility involved the United States dollar being pegged at a fixed rate to gold at $35 per ounce.All other countries’ currencies were then fixed to the U.S dollar at par value. This value had to be adhered too or defended by selling and buying the dollar in the international currency market.Even though an international central bank didnt exist to create an international currency, and manage its supply, the dollar became the world currency.Using the fixed price of 35 dollars per ounce of gold, all countries involved could now exchange their individual currencies for gold and back.This made the United States dollar as valuable as gold and saw increased belief in the dollar.This agreement afforded the ability of all exchange rates of the nations involved to be fixed for some time, in a 1% band on the pegged rate.It permitted a country to change its gold pegged rate, outside of the 1% band, only in the event that the completion of its payment was made in fundamental disequilibrium.WHY WAS THE UNITED STATES DOLLAR CHOSEN? The United States at the time was the only nation with its currency backed by gold.Whats more, during that period it held three-quarter of the entire worlds monetary gold, due to the gold transferred to the United States by European countries during the world war.This left the dollar as the most powerful currency compared to every other currency.The United States has also had the strongest economy after the Second World War ended, and was considered powerful enough to satisfy the demand of rising global and internalization trade.HANDLING LIQUIDITYIn order to handle international liquidity, and also prevent a recurrence of the gold shortage which happened in the 1920s, as well as the fixed rate fallout of the 1930s, a decision had to be made with regards to the sufficient supply of the official monetary reserves.This was most essential to the eff iciency of the adjustable peg rate. The agreement decided to utilize a system of quotas and subscriptions which showcased each nation’s economic power.The quota of every member of the country was built up of 25% gold, with the remaining 75% being the nations domestic currency.These quotas were vital because they were the determinant of the voting right and the size of foreign currency, which each participant country was allowed to collect from the fund.COMMISSIONS3 commissions were created during the meeting in order to achieve its intended purpose. The first saw Harry Dexter of the United States Treasury at its head.It was designed to develop the International Monetary Fund Articles of Agreement, which was the foundational aspect of the system.The second commission which was led by the United Kingdom’s Lord Keynes was also created to develop the Articles of Agreement; however, it was for the International Reconstruction and Development Bank.It then possessed the goal of financi ng the development and reconstruction of various nations due to the aftermath of the war.Today it is called the World Bank, and still remains a highly influential global body possessing a much greater capacity.The last commission headed by Dr. Eduardo Suarez from Mexico, was delegated to find various other methods of international financial cooperation.OBJECTIVES OF THE BRETTON WOODS AGREEMENTThe Bretton Woods Agreement was made to create an international framework which had many objectives.Below are the things that were meant to be achieved by the Bretton Woods Agreement:1. Stable and Flexible Currency System The major objective and primary focus of the agreement was to introduce a currency system which was not as rigid as the gold standard but was as stable as the Gold standard.Based on the chart below, the public and private debt of the United States was at an all-time low when pegged against gold, so the objective was definitely timely. Source: KitcoThe Gold standard also has lots of weakness which needed to be eliminated.Some of the weaknesses include the high cost of the movement of gold to execute international trade transactions, and the absence of an adequate regulatory mechanism (the gold standard was of more benefit to countries that produced gold at the expense of the world economy).There was a problem with the two-way convertibility between national currency and gold and there was also an inability to match the supply of gold with the increased need for liquidity in the world.2. International Reserve Asset Apart from Gold One of objectives of the system was the need to have an international reserve asset.This was meant to be different from the Gold standard which would be used to make international transactions as well as create an avenue where member countries give loans and make contributions to members who were in need due to the balance of payment deficit.3. Creation of Financial Institutions for Indivi dual National Development Projects Another objective of this agreement was to create institutions that would finance the individual national development projects of member countries and also conduct international monetary policies.This aim was what led to the creation of the International Monetary Fund (IMF) and the World Bank.These institutions were meant to promote international monetary cooperation and also supervise, collaborate and consult on monetary problems.4. Foreign Exchange InterventionThe central banks of member countries apart from the US had the responsibility of maintaining fixed exchange rates between the dollar and their currencies.If the currency of a country was higher than the dollar, the central bank of such a country had to sell its currency in exchange for the dollar; this would bring down the value of the countrys currency.If on the other hand, the value of the currency of a country was low, it would buy its own currency and this would increase the value of t he currency.This was aimed at ensuring that the exchange rate was stable and also aimed at avoiding any form of competitive exchange depreciation.5. Elimination of Foreign Exchange Restrictions This agreement also sought to eliminate any form of foreign exchange restrictions and also the creation of a new efficient system of payments for multilateral trade transactions among member countries.6. Avoidance of Trade War Another objective of the agreement was the avoidance of any form of a trade war.The world had just finished a war that left every nation drained and starting a trade war would further increase global hardship.It was agreed that members could regulate their currencies under certain conditions but they were not supposed to lower their currencies in order to increase trade.If foreign direct investment destabilized their economies, they could take action; they were also permitted to adjust the value of their currency in order to rebuild their economy after the war.THE ROLE PLAYED BY INTERNATIONAL MONETARY FUND (IMF) AND WORLD BANK IN THE BRETTON WOODS AGREEMENTThe Bretton Woods Agreement was a financial agreement and such financial institutions needed to be created in order to effectively implement the content of the agreement.With this in mind, two financial institutions, the International Monetary Fund, and the World Bank were created. Without these two institutions, the aim of the agreement would have been frustrated.The IMF helped in the implementation of the Bretton Woods Agreement by playing some key roles in the economies of the member nations.First, lets explore the roles that were played by the IMF in the Bretton Woods Agreement.It is important to note that the implementation of many of the contents of the agreement was anchored on the IMF, if it didnt exist, the Agreement wouldnt have seen the light of day.The IMF helped to bail countries out of the financial difficulties that arise from the loss of the value of their currency especially whe n the country is going bankrupt. They could go to the IMF and borrow from it in order to adjust the value of their currency.If they didnt have some sort of global central bank where they could borrow from, they would have resorted to raising interest rates or even trade barriers and if this persisted it could lead to a trade war, which was what the Bretton Woods Agreement didnt want.Despite the fact that the IMF functioned as a world central bank, it was not given the power of a global central bank such as printing of money when needed.Instead of printing money, the IMF got her money from the fixed pool of national currencies and gold that was contributed to it by member countries.It was on the basis of these contributions that members could borrow money from IMF whenever the need arose. The countries could however only borrow within the limits of their contributions.The IMF also facilitated the expansion of international world trade and this promoted and sustained income and high l evel of employment.In addition, the IMF reduced foreign exchange restrictions among the member countries; this was achieved by designing an acceptable payment system for multilateral trade among its members.It also ensured that there was exchange stability and exchange arrangements were made among its members to prevent any form of competitive exchange depreciation.Furthermore, the IMF assisted in the establishment of a multilateral system of payments which helped members to make payments for transactions among themselves.This also helped to eliminate any form of foreign exchange restrictions that could hamper the growth of world trade.The second financial institution that was created as a result of the Bretton Woods Agreement was the World Bank.The World Bank was another major source of financial support to member nations whose economies were crumbling as a result of the war that had just ended.There was however a flaw in the operation of the World Bank because even though it was c reated to give assistance to member countries, it only lent to the European countries that were ravaged physically and economically by the second World War.The World Bank was created to promote long term poverty reduction and economic development by providing financial and technical support to member countries.This financial and technical support would help the countries to implement specific projects or to reform certain sectors of the economy. This assistance was given on a long term basis and the funds came from the contributions made by member countries.To a very large extent, these two financial institutions helped to give credence to the Bretton Woods Agreement and even after the agreement ceased to exist, these two institutions were not dissolved.They exist until today, carrying out their main objectives and helping to raise the financial strength of member nations.REASONS FOR THE COLLAPSE OF THE BRETTON WOODS AGREEMENTThe Bretton Woods Agreement functioned for a while but in 1971 it had to be suspended due to the fact that the US gold supply was no longer enough to cover the number of dollars in circulation.Dollars convertibility into gold was suspended and by 1973 it was clear the Bretton Woods system has already collapsed.This gave the member countries the freedom to choose any kind of exchange arrangement for their currencies but they were still not permitted to peg the value of the currency to the price of gold.You may be wondering what lead to the collapse of the Bretton Woods system, below are some reasons for the collapse.1. Increased Capital MobilityIt became more convenient for investors to move their capital from one country to the other in anticipation of a possible devaluation; this was not possible during the Gold Standard system.The release of a possible devaluation due to the pulling out of investors could easily trigger an economic crisis.This didnt favor member countries with weaker currencies and they were unwilling to take part in th e devaluation of the exchange rate in order to correct the anomalies of the balance of payment.This led to friction in the foreign exchange market and also international monetary system rigidity.2. The Burden on the United States Another reason for the collapse of the system was that since the design of the system was hinged on the military, the political and economic strength of the US, it meant that the US carried all the burden of the system.When it was obvious that industrial countries were already recovering well from the effect of the war on their economy, the United States wanted a revision of the arrangement, which would bring about a balanced partnership in the sharing of the burden.This move showed that the US was losing its influence in the system and this brought about fear of uncertainty among the members.As a matter of fact, the rise in inflation in the United States in 1965 was one of the major reasons for the collapse of the Bretton Woods Agreement. Source: Naked Capitalism3. Third-world Countries Emergence The emergence and involvement of the third-world and developing countries in the system caused some issues in the system.These countries were not part of the original conference which held in 1944 and their emergence meant that a lot of things had to be changed.4. Improper Exchange Rates AdjustmentsThe inability of Bretton Woods to make adjustments to the exchange rates as relative costs changed was another major reason why it collapsed. This led to many balance of trade payment crises.These crises revealed the dangers of solely relying on the US balance of payment.CONCLUSIONThe Bretton Woods Agreement was a collaborative effort to save for the worlds economic fallout due to the damaging effects of the World War.Its success was hinged on the ability of a single nation to take the lead and other nations willing to follow for the sake of a common goal.

What is the Bretton Woods Agreement

What is the Bretton Woods Agreement At the start of the 19th century, free trade, globalization, and international trade became the new economic system and numerous steps have been taken since then to create schemes and policies which ensure the strength of the international monetary system.It’s quite obvious that the world economy has never functioned in a perfect state; however, the aim to attain such has never dwindled.Between 1944 to 1977, the worlds economic system went through the Bretton Woods era; one of the only few successful policies the world powers developed in attempting to attain economic utopia.Even though it only existed for a brief period, it has been termed one of the most powerful international monetary systems.The economic growths and stability of the era were so impressive that there have been numerous talks for the return of the system.As the chart below shows, after the fall of the Bretton Woods System, there has been much financial crisis. This is why the system has been considered again as a solution. Source: Bretton Wood ProjectWHAT IS THE BRETTON WOODS AGREEMENT? The Bretton Woods Agreement was developed after the Second World War by all Allied nations which participated in the war. It happened in 1944 at Bretton Woods, in New Hampshire.Bound by the agreement, the various nations in participation agreed to maintain a fixed exchange rate at their individual central banks.This fixed rate was between their currencies and the United States dollar.The system was to work in such a way that if a particular nation’s currency value began to fall in relation to the dollar, the bank would purchase its currency.This would be done in foreign exchange markets and would result in the currencys supply lowered simultaneously, raising its price.If on the other hand for currency rises too high, it necessitates that the bank would have to print more, which would result in low price and increased supply.Asides from these the various members of this agreement or system agreed to not engage in trade wars.For instance, a country would not decrease its currency for the sole purpose of trade increment.However, it permitted the nations to regulate their currencies in specific conditions, such as when direct foreign investment is responsible for the destabilization of their economy or readjust currency values in order to stabilize their economy in the aftermath of a war.BRIEF HISTORY OF THE BRETTON WOODS AGREEMENT AND NOW IT WORKEDAfter the Second World War had ended, Over 40 allied countries, inclusive of Argentina, meet in Bretton Woods, United States, in the Mount Washington Hotel.They had a major motive of this meeting and it was to correct the damages of the post-war era.The post-war era was characterized by international economic chaos, such as beggar-thy-neighbor economic policies, which saw nations trying to get out their depressed conditions embrace them. However, this was done at the expense of other nations.Hence, the overall purpose of the convergence was to enable a st able exchange rate with the secondary purpose of the promotion of world peace.There was agreed for the need of an institutional body for International cooperation with regards to monetary matters.This was so that in the outbreak of worldwide challenges, such as the world war there would exist, an internationally recognized solution, instead of individual nations embracing selfish systems.THE MAKEUP OF THE SYSTEMPrior to the 1944 meeting in Brent Woods, New Hampshire, the need, had been recognized.This recognition sparked discussions between the American and British governments, as well as their economic advisors, who had proposed various plans.These economic advisors included Lord Keynes of the United Kingdom on one hand and Harry Dexter of the United States Treasury on the other.Hence, the Bretton meeting was basically for mere formalization as well as closing the agreements previously embraced.The final decisions that were embraced during the conference at Bretton Woods were major ly from the United States end. This proved the military and economic prowess of America during this period.The fact that power was concentrated in the vault of a few nations and all countries involved had a singleness of mind in reaching a specific goal (of course not in for policies with which these goals were to be achieved).And also, the ability and willingness of the United States to take the reins of leadership were part of the reasons the Bretton Woods Agreement saw much success.HOW IT WORKEDThe system of the Bretton Woods Agreement was created in such a way as to incorporate the positives of both a flexible exchange rate known as flexibility and a fixed rate system like the gold standard which was a stable exchange rate.This occurred because, after the Second World War, the United States of America possessed gold reserves which totaled 705,479,239 ounces or about 20,000 metric tons, which at the time was 60% of the world gold supply.What this implied to the financial confiden ce of the dollar is that it could command a buying rate of 35 dollars per gold ounce, hence making the United States dollar more stable than any other currency post world war 2. Source: Logic TankThis introduced a system termed the adjustable peg rate. The Peg and Exchange Convertibility involved the United States dollar being pegged at a fixed rate to gold at $35 per ounce.All other countries’ currencies were then fixed to the U.S dollar at par value. This value had to be adhered too or defended by selling and buying the dollar in the international currency market.Even though an international central bank didnt exist to create an international currency, and manage its supply, the dollar became the world currency.Using the fixed price of 35 dollars per ounce of gold, all countries involved could now exchange their individual currencies for gold and back.This made the United States dollar as valuable as gold and saw increased belief in the dollar.This agreement afforded the ability of all exchange rates of the nations involved to be fixed for some time, in a 1% band on the pegged rate.It permitted a country to change its gold pegged rate, outside of the 1% band, only in the event that the completion of its payment was made in fundamental disequilibrium.WHY WAS THE UNITED STATES DOLLAR CHOSEN? The United States at the time was the only nation with its currency backed by gold.Whats more, during that period it held three-quarter of the entire worlds monetary gold, due to the gold transferred to the United States by European countries during the world war.This left the dollar as the most powerful currency compared to every other currency.The United States has also had the strongest economy after the Second World War ended, and was considered powerful enough to satisfy the demand of rising global and internalization trade.HANDLING LIQUIDITYIn order to handle international liquidity, and also prevent a recurrence of the gold shortage which happened in the 1920s, as well as the fixed rate fallout of the 1930s, a decision had to be made with regards to the sufficient supply of the official monetary reserves.This was most essential to the eff iciency of the adjustable peg rate. The agreement decided to utilize a system of quotas and subscriptions which showcased each nation’s economic power.The quota of every member of the country was built up of 25% gold, with the remaining 75% being the nations domestic currency.These quotas were vital because they were the determinant of the voting right and the size of foreign currency, which each participant country was allowed to collect from the fund.COMMISSIONS3 commissions were created during the meeting in order to achieve its intended purpose. The first saw Harry Dexter of the United States Treasury at its head.It was designed to develop the International Monetary Fund Articles of Agreement, which was the foundational aspect of the system.The second commission which was led by the United Kingdom’s Lord Keynes was also created to develop the Articles of Agreement; however, it was for the International Reconstruction and Development Bank.It then possessed the goal of financi ng the development and reconstruction of various nations due to the aftermath of the war.Today it is called the World Bank, and still remains a highly influential global body possessing a much greater capacity.The last commission headed by Dr. Eduardo Suarez from Mexico, was delegated to find various other methods of international financial cooperation.OBJECTIVES OF THE BRETTON WOODS AGREEMENTThe Bretton Woods Agreement was made to create an international framework which had many objectives.Below are the things that were meant to be achieved by the Bretton Woods Agreement:1. Stable and Flexible Currency System The major objective and primary focus of the agreement was to introduce a currency system which was not as rigid as the gold standard but was as stable as the Gold standard.Based on the chart below, the public and private debt of the United States was at an all-time low when pegged against gold, so the objective was definitely timely. Source: KitcoThe Gold standard also has lots of weakness which needed to be eliminated.Some of the weaknesses include the high cost of the movement of gold to execute international trade transactions, and the absence of an adequate regulatory mechanism (the gold standard was of more benefit to countries that produced gold at the expense of the world economy).There was a problem with the two-way convertibility between national currency and gold and there was also an inability to match the supply of gold with the increased need for liquidity in the world.2. International Reserve Asset Apart from Gold One of objectives of the system was the need to have an international reserve asset.This was meant to be different from the Gold standard which would be used to make international transactions as well as create an avenue where member countries give loans and make contributions to members who were in need due to the balance of payment deficit.3. Creation of Financial Institutions for Indivi dual National Development Projects Another objective of this agreement was to create institutions that would finance the individual national development projects of member countries and also conduct international monetary policies.This aim was what led to the creation of the International Monetary Fund (IMF) and the World Bank.These institutions were meant to promote international monetary cooperation and also supervise, collaborate and consult on monetary problems.4. Foreign Exchange InterventionThe central banks of member countries apart from the US had the responsibility of maintaining fixed exchange rates between the dollar and their currencies.If the currency of a country was higher than the dollar, the central bank of such a country had to sell its currency in exchange for the dollar; this would bring down the value of the countrys currency.If on the other hand, the value of the currency of a country was low, it would buy its own currency and this would increase the value of t he currency.This was aimed at ensuring that the exchange rate was stable and also aimed at avoiding any form of competitive exchange depreciation.5. Elimination of Foreign Exchange Restrictions This agreement also sought to eliminate any form of foreign exchange restrictions and also the creation of a new efficient system of payments for multilateral trade transactions among member countries.6. Avoidance of Trade War Another objective of the agreement was the avoidance of any form of a trade war.The world had just finished a war that left every nation drained and starting a trade war would further increase global hardship.It was agreed that members could regulate their currencies under certain conditions but they were not supposed to lower their currencies in order to increase trade.If foreign direct investment destabilized their economies, they could take action; they were also permitted to adjust the value of their currency in order to rebuild their economy after the war.THE ROLE PLAYED BY INTERNATIONAL MONETARY FUND (IMF) AND WORLD BANK IN THE BRETTON WOODS AGREEMENTThe Bretton Woods Agreement was a financial agreement and such financial institutions needed to be created in order to effectively implement the content of the agreement.With this in mind, two financial institutions, the International Monetary Fund, and the World Bank were created. Without these two institutions, the aim of the agreement would have been frustrated.The IMF helped in the implementation of the Bretton Woods Agreement by playing some key roles in the economies of the member nations.First, lets explore the roles that were played by the IMF in the Bretton Woods Agreement.It is important to note that the implementation of many of the contents of the agreement was anchored on the IMF, if it didnt exist, the Agreement wouldnt have seen the light of day.The IMF helped to bail countries out of the financial difficulties that arise from the loss of the value of their currency especially whe n the country is going bankrupt. They could go to the IMF and borrow from it in order to adjust the value of their currency.If they didnt have some sort of global central bank where they could borrow from, they would have resorted to raising interest rates or even trade barriers and if this persisted it could lead to a trade war, which was what the Bretton Woods Agreement didnt want.Despite the fact that the IMF functioned as a world central bank, it was not given the power of a global central bank such as printing of money when needed.Instead of printing money, the IMF got her money from the fixed pool of national currencies and gold that was contributed to it by member countries.It was on the basis of these contributions that members could borrow money from IMF whenever the need arose. The countries could however only borrow within the limits of their contributions.The IMF also facilitated the expansion of international world trade and this promoted and sustained income and high l evel of employment.In addition, the IMF reduced foreign exchange restrictions among the member countries; this was achieved by designing an acceptable payment system for multilateral trade among its members.It also ensured that there was exchange stability and exchange arrangements were made among its members to prevent any form of competitive exchange depreciation.Furthermore, the IMF assisted in the establishment of a multilateral system of payments which helped members to make payments for transactions among themselves.This also helped to eliminate any form of foreign exchange restrictions that could hamper the growth of world trade.The second financial institution that was created as a result of the Bretton Woods Agreement was the World Bank.The World Bank was another major source of financial support to member nations whose economies were crumbling as a result of the war that had just ended.There was however a flaw in the operation of the World Bank because even though it was c reated to give assistance to member countries, it only lent to the European countries that were ravaged physically and economically by the second World War.The World Bank was created to promote long term poverty reduction and economic development by providing financial and technical support to member countries.This financial and technical support would help the countries to implement specific projects or to reform certain sectors of the economy. This assistance was given on a long term basis and the funds came from the contributions made by member countries.To a very large extent, these two financial institutions helped to give credence to the Bretton Woods Agreement and even after the agreement ceased to exist, these two institutions were not dissolved.They exist until today, carrying out their main objectives and helping to raise the financial strength of member nations.REASONS FOR THE COLLAPSE OF THE BRETTON WOODS AGREEMENTThe Bretton Woods Agreement functioned for a while but in 1971 it had to be suspended due to the fact that the US gold supply was no longer enough to cover the number of dollars in circulation.Dollars convertibility into gold was suspended and by 1973 it was clear the Bretton Woods system has already collapsed.This gave the member countries the freedom to choose any kind of exchange arrangement for their currencies but they were still not permitted to peg the value of the currency to the price of gold.You may be wondering what lead to the collapse of the Bretton Woods system, below are some reasons for the collapse.1. Increased Capital MobilityIt became more convenient for investors to move their capital from one country to the other in anticipation of a possible devaluation; this was not possible during the Gold Standard system.The release of a possible devaluation due to the pulling out of investors could easily trigger an economic crisis.This didnt favor member countries with weaker currencies and they were unwilling to take part in th e devaluation of the exchange rate in order to correct the anomalies of the balance of payment.This led to friction in the foreign exchange market and also international monetary system rigidity.2. The Burden on the United States Another reason for the collapse of the system was that since the design of the system was hinged on the military, the political and economic strength of the US, it meant that the US carried all the burden of the system.When it was obvious that industrial countries were already recovering well from the effect of the war on their economy, the United States wanted a revision of the arrangement, which would bring about a balanced partnership in the sharing of the burden.This move showed that the US was losing its influence in the system and this brought about fear of uncertainty among the members.As a matter of fact, the rise in inflation in the United States in 1965 was one of the major reasons for the collapse of the Bretton Woods Agreement. Source: Naked Capitalism3. Third-world Countries Emergence The emergence and involvement of the third-world and developing countries in the system caused some issues in the system.These countries were not part of the original conference which held in 1944 and their emergence meant that a lot of things had to be changed.4. Improper Exchange Rates AdjustmentsThe inability of Bretton Woods to make adjustments to the exchange rates as relative costs changed was another major reason why it collapsed. This led to many balance of trade payment crises.These crises revealed the dangers of solely relying on the US balance of payment.CONCLUSIONThe Bretton Woods Agreement was a collaborative effort to save for the worlds economic fallout due to the damaging effects of the World War.Its success was hinged on the ability of a single nation to take the lead and other nations willing to follow for the sake of a common goal.

The Methods Of Capital Punishment - 1979 Words

Since ancient times capital punishment has been practiced inordinately as it is seen as a way to curb the increasing crime rate. The methods of conducting the capital punishment is of pivotal interest to the countries across the globe. It is accepted that the death penalty can truly be harsh and barbaric. However, it being unavoidable, efforts are made to reduce the degree of harshness. Sentenced criminals should not be made to go through any deliberate or unnecessary pain while the execution is conducted. This being the major concern, countries are in an incessant search to find the most efficient and least painful method of capital punishment. Researches are conducted to compare and contrast the various methods in order to find the most†¦show more content†¦This paper sought to explore the history of varied traditional and recent methods of capital punishment. Topics like how they came into existence, how they work, what alterations have they gone through and why will be discussed in this research. It will attempt to understand the efforts made to improve and bring in new methods. While considering the many botched executions that have taken place, it looks like the traditional methods may not after all be so effective. However, after years of research quite a few improvisations have come into effect. Though these are not totally new methods, they do serve the purpose of effective, less painful executions. Dieter discusses the various methods of execution which were performed in the US and how they are changing over time. Dieter examines the reasons for this constant change from one method to another. He begins by shedding light on one of the most prominent methods used since olden times: hanging. The intention of choosing this method and its role in the community is revealed in the first few paragraphs. With the enhancement of technology, new methods like the electric chair and gas chambers came into use. The use of complex machinery lead to capital punishment being viewed in a light of sophistication. Years later, the ‘lethal injection’ was introduced. No matter what the method was, they were

The Different Reasons People Communicate - 1489 Words

IDENTIFY THE DIFFERENT REASONS PEOPLE COMMUNICATE People communicate for different reasons such as to share an idea or information, to express a need, to reassure others, express their feelings, socialise, give instructions, ask questions, give encouragement and share opinion. Communication is a tool with which influence can be exercised on others. People communicate their views, wishes and passes their information to others such as information about their health or a warning. Communication is a tool used by service users and care workers in work environment to gain an understanding of the care either to be received or be provided. This can be given by the service users through different communication technique which could either be†¦show more content†¦Communication in the work setting can be between the person receiving a support, their families and friends and other health care professionals. Daily tasks will only be successful with smooth transfers of information. Communication affects all aspect of working in social care setting between the manager and staff, it ensures effective team working and continuity of care. Effective communication skills are also needed to encourage talking about feeling, to say what we think or to express our needs, concerns, wishes or preferences.. OUTCOME 2 BE ABLE TO MEET THE COMMUNICATION AND LANGUAGE NEEDS, WISHES AND PREFERENCES OF INDIVIDUALS 2.2 DESCRIBE THE FACTORS TO CONSIDER WHEN PROMOTING EFFECTIVE COMMUNICATION In order to promote effective communication, it is important to establish whether the receiver has understood the message that has been communicated. This is because communication is a two way process. It is not simply about sending a message, but also about knowing if the receiver has understood and processed the message properly. Factors to be considered when promoting effective communication include barriers such as communication difficulties like autism, dementia, and inability to speak. Effective communication is achieved using Pictures Exchange Communication System by exchanging pictures and symbols on a board to communicate needs, feelings, wants and

The more you expose yourself to diversity, the less...

The more you expose yourself to diversity, the less ignorant you become. Diversity is beneficial, because it combines new ideas and cultures into a society. It provides people with visions to develop, grow, and change. From the early 1900’s to current times, it is shown that diversity has been widely accepted and has beneficial to today’s society. In businesses, by bringing people together from different environments and qualifications, businesses can more effectively sell to customers from different racial and ethnic backgrounds, sexual orientations, and gender. Diversity also improves students’ educational experience throughout their school years. Students learn from their fellow classmates whose experiences, values, and viewpoints are†¦show more content†¦Farm†, â€Å"Victorious†, â€Å"Suite Life of Zach and Cody†, â€Å"Wizards of Waverly Place†, have cast members of vast backgrounds and even sexual orientation. TV watche rs don’t even blink an eye when they see a diverse cast. Another example of how far today’s society has come from the â€Å"White Privilege† is, â€Å"I can go into a music shop and count on finding the music of my race represented, into a supermarket and find the staple foods which fit with my cultural traditions, into a hairdresser’s shop and find someone who can cut my hair.† There are so many things wrong with this statement in the viewpoint of today’s society. First of all, why do people have to only listen to people of their own race? You can go through anyone’s music playlist and find that they most definitely do not listen to only their race. Second, you can go to any supermarket and get supplied with any kind of food from different cultures. For example, if you go through the aisles of Walmart you will see a Spanish food brand called Goya, Jewish bread called rye bread, and you can even get unique chocolates and candies from Europe. Grocery stores have all varieties of food; Italian, Pol ish, Mexican, and Asian. 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Relationship Between Reasonably Practicable and Risk Management

Question: Discuss about the Relationship Between Reasonably Practicable and Risk Management. Answer: Introduction Negligence is an action that is taken when one fails to perform an act or does an act that was contrary to the ordinary expectations of a person of his caliber.[1] Traditionally for an action of negligence to successfully convince the judges it is prudent that one evinces to the court that the other party owed him a duty care, the duty of care was breached and that the claimant suffered damages due to the breach.[2] A professional who has professed to have a skill in a certain field but fails to perform the skills as required of the profession, the omission attracts a claim of professional negligence.[3] It bears noting that a claim of professional negligence applies the traditional common law rules of negligence. It is incumbent a persons who do activities that are likely to have consequences on other people to take precautions to prevent any harm to people within their surrounding. Ideally, one should significantly mitigate the risks that are likely to occur and cause harm. The central rule in professional negligence was established in the case of Hedley Byrne Co Ltd v Heller and Partners Ltd[4] where the court pronounced that if someone is in a position to give professional advice and based on the level skill he has one is compelled to rely on the advice to make a decision a duty of care arises and the professional will be negligently if a claimant relied on the advice which over the long haul caused him to suffer injury. The concept of duty of care and professional advice was further was further expounded in was Caparo Industries plc. v Dickman[5] where it was held that duty of care in a relationship between the person giving advice and one relying on it will exist if the maker of the advice understands why the advice is sought and if the adviser knows that that his advice will be relied without any independent output. Conversely, in James McNaughton Papers Group Ltd. v Hicks Anderson Co[6] the court appeal agreed with Caparo but added that the duty of care in a case of professional advice is conditional on the constructive knowledge of the adviser about the use of the information that he is imparting. It was also noted that the party must not rely on his judgment but must solely rely on the advice given by the professional. It is imperative to note that the standard of care that is expected form the professional is that of a reasonable person with the same skills and abilities. The litmus applied in litigation of professional negligence cases is the Bolam test that was set in Bolam v Friern Hospital[7]. Phillip carried himself out as a professional and therefore gave advice to Simon but the advise was made casually and not in official capacity. As a matter of course the statement was made in a social place where adviser appeared to be intoxicated with alcohol. It can be argued that Philippa does not owe Simon a duty of care because the test established in Caparo was not satisfied. Philippa did not expect that Simon would rely on the casual advice he gave on investment of shares and therefore he requested him to see him the following day so that he can explain to him more about investment of shares since Simon said that he was not knowledgeable in shares investment. In addition, it can be argued that Simon decided to rely on his own judgment and not solely on the advice given by Phillipa. Simon would be held to have relied solely on the advice given by Philippa if he received extra advice from him. It can thus be concluded that Philippa will not be liable for professional negligence because the essential elements have not been satisfied. In the case of Peter and the national park and Simon and the liquor store the issue is whether the defendants in the possible case has taken measures to ensure that the risk is reduced as low as is reasonable practicable and if the risk was foreseeable. It is submitted that reasonable foreseeability of risk and averting of risks are elements of a claim of negligence. According to Goff LJ in Austin Rover Ltd v Inspector of Factories[8] in an effort to define what reasonable practicable he stated that it is not indispensable for the duty-holder to have the knowledge of all the risks and measures that he should take but rather what a reasonable person in same capacity and circumstances would have knowledge of and done to avert the risk. If this test is applied then it would mean that what is reasonably practicable is that which an ordinary person in the similar circumstances would do. The test for reasonable practicable may be borrowed from the common law negligence action test.[9] The claimant must thus show that the duty bearer owed him a duty of care, the duty was breached and as a result the claimant suffered damages. The next question by the court will be whether the defendant had taken reasonable steps that any ordinary person wo uld do to avert the risk.[10] It is obvious that any employer owes a duty of care to persons likely to be affected by his acts or omissions, however, the standard of care that will be applied is assessed according to the specific circumstances of the duty holder.[11] In Tangerine Confectionery Ltd and Veolia ES (UK) Ltd v The Queen[12] the court held that the determination of reasonably practicable is conditional on the degree of foreseeability of the risk that was involved. This implies that the measures taken by the duty holder to preclude the risk must be proportionate to the degree of risk that is involved. Reasonable foreseeability of the risk or harm is determined on a case to case basis and is conditional on the specific circumstances and time. In R .v. Electric Gate Services[13] the court held that the onus lies on the defendant to proof to the court that the risk or harm was too remote to be foreseen. In Baker v Quantum Clothing Group Ltd and Others[14] the court held that section 2 and 3 of cannot be interpreted to mean that it is the actual accident that must be foreseeable but rather it means that any harm or injury that may have been suffered. The court also stated that the manner in which the foreseeable event occurred is immaterial as long as there was injury suffered. It also noted that foreseeability was a concept that was important to determine whether the place is safe and if any risk would occur. In fact before Baker, in Hughes vs. Lord Advocate[15] the court emphatically stated that the fact that the harm that was foreseeable had not occurred but another one did does not extricate the defender form liability. It can be argued that National park was in fact taking precautions to ensure that the risk did not occur. However, the contractors behind the construction of the swimming pool can be held liable because they did conduct a study of the area of construction and determine if it was appropriate to proceed with the construction of the swimming pool. If the construction of the pool was done by the national park they will be held negligently liable because they did not take reasonable practicable steps to avert the risk. The risk in the swimming was reasonable foreseeable because it is utterly incongruous that a swimming pol will be constructed just beneath roots of a tree. In the case of Simon in the liquor store, it is submitted that the store had taken reasonable measures to avert the risk that would occur and that Simon invited the injury to him self. It was a case of Volentis non fit injuria where the claimant in a claim of negligence volunteers to cause injury to himself. The national park will therefore be liable for civil tort of negligence and will be liable to pay special damages that include medical bills that arise form the injuries that Peter sustained. The injury that Simon suffered was not reasonably foreseeable in any circumstance. The liquor shop will therefore not be liable for negligence. However, it is possible to take precaution against unforeseeable events. In any work place it is a reasonable measure for an employer to install fire extinguishers in case of fires although it is not always foreseeable that there will be fire. Conclusion It is a plausible conclusion that the test for reasonable practicable is conditional on the reasonable foreseeability of the risk or harm. The two coexist and must be applied contemporaneously in the determination of liability of a negligence case. The rise in professional negligence should send a message to professionals that they must exercise their skill to the best of their knowledge. Bibliography Bluff, L. and Johnstone, R., 2004. The Relationship between'Reasonably Practicable'and Risk Management Regulation. National Research Centre for Occupational Health and Safety Regulation. Davies, M. and Malkin, I., 2003. Torts, 4th ed, Butterworths, Sydney Austin Rover Ltd v Inspector of Factories [1989] 1 WLR 520 Baker v Quantum Clothing Group Limited [2011] UKSC 17 Blyth v Birmingham Waterworks Company (1856) 11 Ex Ch 781 Bolam v Friern Hospital (1957) 1 WLR 583 Caparo Industries plc. v Dickman (1990) 2 AC 605 Grant v The Australian Knitting Mills [1935] UKPC 2, [1936] A.C. 562 Hedley Byrne Co Ltd v Heller and Partners Ltd [1964] AC 465 Hughes v Lord Advocate [1963] UKHL 8 James McNaughton Papers Group Ltd. v Hicks Anderson Co (1991) 1 AER 134 Paris v Stepney Borough Council [1951] AC 367 R . v. Electric Gate Services et al [2009] EWCA Crim 1942 Tangerine Confectionery Ltd and Veolia ES (UK) Ltd v The Queen [2011] EWCA Crim 2015 Turner v Garland and Christopher (1853) cited in Hudson's Building Contracts (4th ed., 1914) Vol. 2, p. 1.

Strategic Analsis of Ethiopian Airlines Essay Example For Students

Strategic Analsis of Ethiopian Airlines Essay This report is compiled for the partial fulfillment of the course entitled Global strategy Analysis and practice, based on analysis of the Ethiopian Airlines business strategy. The Ethiopian Airlines is a state owned enterprise which operates globally. The study will provide a brief assessment on the Ethiopian Airlines Business strategy based on analysis of data collected from secondary sources which includes data from the Internet, websites, company magazine, news papers, and annual reports. We have also conducted interview with the company senior management. The problem related to time constraints to collect raw data and access to primary data was the issues that limit the study. The first part of the report provides a brief overview about Ethiopian Airlines. On the next step we look a computational analysis that includes the SWAT, PESTEL and Porter’s five forces model. The last section addresses the conclusion and recommendation. We will write a custom essay on Strategic Analsis of Ethiopian Airlines specifically for you for only $16.38 $13.9/page Order now For a new entrant to the airline industry the current situation is un pleasant. Whereas for Ethiopian Airlines stayed in the market for a long time with a best safety record and operational reputability. It gives the company a strong brand name, loyal customer, big market share in the continent and has a good image in Europe and Asia. On contrary the domestic flight service has a weakness in satisfying the local customers like flight delay, flight cancellation and low service quality.. Ethiopian Airlines adopts demarcation basic strategy to get a competitive advantage by implementing electronic ticketing and online check-in. In addition, it gained a competitive advantage by focusing in new segments in the market. The airline wants to grow from 53 to around 80 destinations by 2015. Also it provides aircraft maintenance, pilot and technicians training including training by plane simulator, including for most African countries. Ethiopian Airlines sets its strategy to maximize stake holders’ interest by implementing latest aviation technologies, skilled manpower, provide aircraft maintenance which leads increasing its market share to become a world class African Airlines. RECOMENDATIONS In addition to the existing strategy of the company the study recommends the following shall be incorporated. Reduce operational costs Ethiopian Airlines should reduce the operational costs by improving maintenance processes, having high aircraft utilization, perform effective flight scheduling, out

Boxer Rebellion Timeline in China

Boxer Rebellion Timeline in China At the turn of the 20th century, intense social pressure due to increasing foreign influence in Qing China led to an upsurge of participation in the Righteous Harmony Society Movement (Yihetuan), called the Boxers by foreign observers. From their base in drought-ravaged northern China, the Boxers spread across the country, attacking foreign missionaries, diplomats, and traders, as well as Chinese Christian converts. By the time it ended, the Boxer Rebellion had claimed almost 50,000 lives. Background to the Boxer Rebellion 1807: First Protestant Christian missionary arrives in China from the London Missionary Society.1835-36: Daoguang Emperor expels missionaries for distributing Christian books.1839-42: First Opium War, Britain imposes an unequal treaty on China and takes Hong Kong.1842: Treaty of Nanjing provides extraterritorial rights to all foreigners in China - they are no longer subject to Chinese law.The 1840s: Western Christian missionaries flood into China.1850-64: Christian convert Hong Xiuquan leads to bloody Taiping Rebellion against the Qing Dynasty.1856-60: Second Opium War; Britain and France defeat China and impose harsh Treaties of Tientsin.1894-95: First Sino-Japanese War, former tributary Japan defeats China and takes Korea.Nov. 1, 1897: Juye Incident, armed men kill two Germans at missionary home in Shandong Province, northern China.Nov. 14, 1897: German Kaiser Wilhelm II sends a fleet to Shandong, urges them to take no prisoners like Attila and the Huns.1897-98: Drought followed by flooding strikes Shandong, causing widespread misery. The Boxers Rebel 1898: Young men in Shandong form Righteous Fist groups, practicing martial arts and traditional spiritualism.June 11-Sept. 21, 1898: Hundred Days Reform, Emperor Guangxu tries to quickly modernize China.Sept. 21, 1898: On the verge of handing over sovereignty to Japan, Guangxu is stopped and goes into internal exile. Empress Dowager Cixi rules in his name.Oct. 1898: Boxers attack Liyuantun villages Catholic church, converted from a temple to the Jade Emperor.Jan. 1900: Empress Dowager Cixi rescinds condemnation of Boxers, issues letter of support.Jan-May, 1900: Boxers storm through the countryside, burning churches, killing missionaries and converts.May 30, 1900: British Minister Claude MacDonald requests defense force for Beijing foreign legations; Chinese allow 400 troops from eight nations into capital. The Rebellion Reaches Beijing Jun 5, 1900: Boxers cut railroad line at Tianjin, isolating Beijing.June 13, 1900: First Boxer appears in Beijings Legation (diplomatic) Quarter.June 13, 1900: Pro-Boxer General Dong Fuxians troops kill Japanese diplomat Sugiyama Akira.June 14, 1900: German Minister Clemens von Ketteler arrests and summarily executes a young boy he suspects of being a Boxer.June 14, 1900: Thousands of angry Boxers storm Beijing and burn Christian churches in response to boys murder.June 16, 1900: Empress Dowager Cixi and Emperor Guangxu hold council meeting, decide to fully support Boxers.June 19, 1900: Qing government sends messengers to offer foreign legation members safe passage out of Beijing; instead, the foreigners shoot the messengers dead.June 20, 1900: Manchu Bannerman Captain En Hai kills Minister von Ketteler in a melee to avenge the murdered Boxer boy. Siege of the Legations June 20-Aug. 14, 1900: Boxers and Chinese Imperial Army besiege legations sheltering 473 foreign civilians, 400 foreign soldiers, and approximately 3,000 Chinese Christians.June 21, 1900: Empress Dowager Cixi declares war against the foreign powers.June 22-23, 1900: Chinese set fire to parts of Legation district; priceless Hanlin Academy library burns.June 30, 1900: Chinese force Germans from a position atop Tartar Wall overlooking legations, but Americans hold the position.July 3, 1900: 56 US, British and Russian soldiers on Tartar Wall launch a 2 am a surprise attack, kill 20 Chinese soldiers, and drive survivors from the wall.July 9, 1900: Outside of Beijing; Shanxi Province governor executes 44 missionary families (men, women, and children) after offering them asylum at Taiyuan. Victims of Taiyuan Massacre become martyrs in eyes of Chinese Christians.July 13-14, 1900: Also 120 km (75 miles) outside Beijing, Battle of Tientsin (Tianjin); Eight-Nations relief force besieges Boxer-h eld city, 550 Boxers and 250 foreigners killed. Foreign troops (especially Germans and Russians) rampage through city afterward, looting, raping and killing civilians, while Japanese and Americans try to restrain them. July 13, 1900: In Beijing, Chinese set off a mine under French Legation, force French and Austrians to shelter in British compound.July 13, 1900: Advancing Chinese drive Japanese and Italian troops to precarious last defense line at Prince Sus palace.July 16, 1900: Australian journalist George Morrison injured and British Captain Strouts killed by Chinese snipers.July 16, 1900: London Daily Mail publishes a  report that all legation besieged had been massacred, including mercy killing of women and children, Russians boiled to death in oil, etc. The story was false, fabricated by a reporter in Shanghai.July 17, 1900: Eight-Nations relief force lands on the coast, begins the march to BeijingJuly 17, 1900: Qing government declares a cease-fire on legations.August 13, 1900: Chinese end cease-fire, bombard legations as foreign rescue force approaches capital.August 14, 1900: Relief force lifts the siege on legations, forgets to relieve besieged Catholic North Cathedral until August 16.A ugust 15, 1900: Empress Dowager Cixi and Emperor Guangxu escape Forbidden City dressed as peasants, go on inspection tour to ​the  ancient capital of Xian (formerly Changan) in Shaanxi Province. Aftermath Sept. 7, 1900: Qing officials sign Boxer Protocol, agree to pay huge war reparations over 40 years.Sept. 21, 1900: Russian troops seize Jilin and occupy Manchuria, moves that will spark 1904-05 Russo-Japanese War​.Jan. 1902: Empress Dowager Cixi and Emperor Guangxu return to Beijing from Xian and resume control of the government​.1905: Empress Dowager Cixi abolishes imperial examination system for training bureaucrats in favor of western-style university system, part of an attempt at sweeping modernization​.Nov. 14-15, 1908: Emperor Guangxu dies of arsenic poisoning, followed the next day by Empress Dowager Cixi​.Feb. 12, 1912: Qing Dynasty falls to Sun Yat-sen; formal abdication by Last Emperor Puyi.

Global business venture Research Paper Example | Topics and Well Written Essays - 750 words

Global business venture - Research Paper Example The battery life is the same 10 hours as of it predecessor. This iconic tablet is available in two colours, black or white, and supports HDMI output using a separate cable. It has front-facing cams with the traditional rear camera and a few cool accessories offered first time by Apple (Apple iPad, 2012). Till now, the product has been launched in many different counties but not in Japan. The other products of Apple have been successfully launched in Japan previously. Therefore Apple Incorporation is now planning to introduce iPad 2 in Japan. For this purpose government, political and economic analysis was carried out. Japans government is a constitutional monarchy and has a parliamentary government. Sovereignty, previously embodied in the emperor, is vested in the Japanese people, and The Emperor is the symbol of the state with sovereignty bestowed to the people of the country. Cabinet composes of Prime Minister and State Ministers and holds the executive power. The members of the cabinet must all be civilians and the power to appoint and remove state minister lies with the prime minister. The judiciary here is independent, with judicial system being drawn from civil law, customary law and Anglo-American common law. The final judicial authority is with the Supreme Court, though there are several levels of courts. The Japanese constitution includes a bill of rights similar to the U.S. Bill of Rights, and the Supreme Court has the right of judicial review. The court verdicts are made in accord with legal statutes. Since the 1980’s Japan has faced political instability. To put Japan back on the path of vibrant growth, the nations tax system was changed; there was a cut in corporate tax and a hike in sales tax, to escape sovereign debt crisis. There were a few other changes in government policies to attract investors towards Japan which had given positive outcomes (Takenaka, 2010). The free-market economy of Japan is the third-largest economy in

Present savalescu's argument harmless wrogdoing using the nuclear Essay

Present savalescu's argument harmless wrogdoing using the nuclear acident case - Essay Example The professor equates the case of the nuclear accident to selection of embryos otherwise referred to as procreative beneficence (Mills, 65). He argues that a poor country can invest in nuclear energy in order to provide heat and light. Nuclear energy then changes the citizen’s lifestyle since citizens can now enjoy their lives more by staying awake for longer periods. After sometime, a break down in the nuclear plant emits radiations to the environment and causes harm to the population. Majority of children born after the nuclear accident suffer pregnancy complications and physical abnormalities. Savalescu points out that objecting the nuclear accident is like admitting to harmless wrongdoing. He argues that children born after the nuclear accident would not have been born if the government did not invest in the nuclear plant. He argues that the nuclear accident was wrong but the population not severely harmed unless of death cases. According to Savalescu, if the population ob jected the accident then they have no right to object his concept of procreative beneficence. According to Holland (81), Savalescu justifies killing in order to save lives. ... Savalescu argument in relation to nuclear accident refers to using â€Å"preimplantation genetic diagnosis† (PGD) to select genes not affected by the nuclear accident. Nuclear accident not only results to body abnormalities, but also affects future generations. Nuclear accident affects the genetics composition of adults’ genes, which can affect future generations by inheriting the undesired genes (Mills, 27). In this case, Savalescu calls for use of the PGD to select embryos while destroying the nuclear affected embryos. However, the use of PGD is only possible when used with in-vitro fertilization (IVF) where fertilization of the ova and the sperm cells occurs outside the body before implanted into the female’s body. Savalescu arguments for harmless wrongdoing are logical since it may result to improvement of a child’s life. According to Savalescu, nuclear affected genes may affect the lives of the born children. This is because; the children born will ha ve physical abnormalities hence may not live a good life. According to Oakley (192), applying Savalescu theory of selection of embryos may help to prevent the unborn child from living a miserable life. Parents can prevent their children from the effects of the nuclear emissions by selecting the non-affected genes. This helps to control the effects of the nuclear accident by preventing the inheritance to future generations. Savalescu’s arguments help in evaluating the embryos with the highest chances of survival (Mills, 66). Procreative beneficence is crucial in evaluating the best genes that are likely to survive and live the best life. The parents then neglect the weaker genes that are not likely to survive. This will ensure the elimination of the problem of infant mortality

Revenue Recognition and Corporate Governance

Revenue Recognition and Corporate Governance Revenue recognition is one of the most important accounting concepts to organisations across the globe. Basically, there are two main ways in which an organisation can account for revenue as part of their financial accounts. A company can either use cash based accounting or accruals based accounting. Cash based accounting requires the company to recognise the revenue and to put the figure into their accounts at the point when the cash is received, regardless of how or when the money has been earned. On the other hand, with accruals based accounting the figures will feature in the accounts when the revenues are realised, or when the amount is earned, not necessarily when the cash actually enters the company[1]. Countries across the world deal with the issue of revenue recognition very differently and, as such, it is particularly difficult to compare international businesses. The way in which revenue is recognised will have an impact on the perceived financial health of an organisation and different approaches can make it extremely difficult for analysts and investors to make a fair comparison. In October 2002, the International Accounting Systems Board (â€Å"IASB†) and the Financial Accounting Standards Board (â€Å"FASB†) began a joint project to deal with these differences. The original overall aim of the revenue recognition project was to establish a single coherent way of revenue recognition that can be used, globally. Fundamentally, this required the convergence of US GAAP and international standards. One of the main problems facing FASB and IASB is that the US does not have a general accounting standard relating to revenue recognition. Instead, different sectors and industries have developed their own ways of dealing with revenue recognition in line with their individual requirements[2]. As a result, there is no consistency. Moreover, revenue recognition in the US is seen as particularly complex and is based largely on the discretion of the individual finance teams. Originally, the project suggested that a fair value asset based approach should be followed. However, it is currently thought that it will not be possible to establish one universal approach. The basic concept of the fair value asset and liability approach is that when a company enters into a contract, it creates rights (assets) and obligations (liabilities). The difference between these assets and liabilities at any point in the contract is the revenue generated by this contract and should be the figures used at the point in which the accounts are drawn up. This started as a fair value approach to the difference in assets and liabilities, but has now shifted more towards the customer consideration approach to valuing the difference between assets and liabilities[3]. The FASB and IASB have since recognised that enforcing one standard on a global level will be impossible and have, since 2006, decided to take a more bottom-up approach by conducting an international study of how the above model would work and the way in which it would interact with the cultural differences across the globe[4]. It is this cultural difference and historical freedom that presents the greatest challenge to the success of the project. Without a detailed understanding of how the proposed models will work, practically, with reference to the various different families of transactions, it will be impossible for the project to reach any definitive conclusion. For this reason, gaining a greater understanding has now become the first and most important priority of the FASB and the IASB when conducting their study relating to revenue recognition. Corporate governance is absolutely vital in the administration and control of companies. Essentially, corporate governance refers to the principles, policies, customs, laws and any other factors that deal with the way in which a company is managed. It is key in the way that the relationship with the company directors and the stakeholders in the company interacts. As a general rule, strong corporate governance results in a good level of confidence in the company itself and the wider industry[5]. The aims of corporate governance are multiple but are mainly in relation to accountability of the key individuals within the organisation and, in particular, the way in which the company deals with the principal – agent problem[6]. It is also about establishing economic efficiency and ensuring the best and most appropriate use of available resources. As the way in which companies are run varies so dramatically from country to country, it is unsurprising that the way corporate governance is managed is equally diverse. In 2002, the United States took the approach of regulating the way in which corporate governance should work with the Sarbanes-Oxley Act. This Act was drawn up as a rule based approach to corporate governance, following several accounting scandals which hit the headlines in the US, the most notable being the collapse of ENRON. As part of the legislation, eleven heads of rules were created and the Securities and Exchange Commission was required to make compliance a condition of admission to the exchange. The rules have been criticised as being highly prescriptive and not allowing for flexibility based on organisational differences[7]. Contrast this with the principles based approach taken in the UK and the US. Although both countries follow the Anglo-American approach, which is considered liberal and as giving priority to shareholders, the way they go about achieving this aim is substantially different. The UK takes a principle based approach with a ‘comply or explain’ policy[8]. This means that a list of principles and best practices has been developed in relation to corporate governance whereby public listed companies must either comply with this best practice or explain why it is not thought necessary in their particular circumstances. In the US, there are statutory rules with which all accompanies must comply. The UK government felt that it was not possible to create one set of rules that would capture the needs and issues of every type of company; for this reason, it has continued to favour this principle based approach. Divergences in the way that corporate governance is dealt with across the globe and even across sectors and industries is a natural part of the way business is conducted. All companies have their own issues and structures which require different approaches to control and accountability. The level of prescription that the US government has placed on corporate governance has resulted in a one size fits all approach which is simply impractical. Failure to allow a degree of flexibility and adaptability will result in a difficult to manage and ineffective system of corporate governance. Footnotes [1] Sondhi, Ashwinpaul C., Taub, Scott, Revenue Recognition Guide, Cch Inc, 2006 [2] Benston, George J., Bromwich, Michael, Litan, Robert E., Wagenhofer, Alfred ,Worldwide Financial Reporting: The Development and Future of Accounting Standards, Oxford University Press US, 2006 [3] Sondhi, Ashwinpaul C., Taub, Scott, Revenue Recognition Guide, Cch Inc, 2006 [4] Glover, Jonathan C., Ijiri, Yuji, Levine, Carolyn B., Jinghong Liang, Pierre, Separating Facts from Forecasts in Financial Statements, Accounting Horizons, Vol. 19, 2005 [5] Colley, J., Doyle, J., Logan, G., Stettinius, W., What is Corporate Governance ? McGraw-Hill, December 2004 [6] Clarke, Thomas (ed.), Theories of Corporate Governance: The Philosophical Foundations of Corporate Governance, London and New York: Routledge, 2004 [7] Monks, Robert A.G, Minow, Nell, Corporate Governance, Blackwell, 2004 [8] Arcot, Sridhar, Bruno, Valentina,d Faure-Grimaud, Antoine, Corporate Governance in the U.K.: is the comply-or-explain working?, FMG CG Working Paper 001, December 2005

D. Virginiana (Didelphis Marsupialis) Essay -- Biology Animals Researc

D. Virginiana (Didelphis Marsupialis) The text of this paper will cover a description of D. virginiana, its ecology, history, and research involving the species. The first topic to be discussed by this paper is a description of D. virginiana, which was until recently referred to as Didelphis marsupialis. The description of the opossum will start with a taxonomic description of the species. Following, will be the opossums appearance, and last will be the life cycle of the noted species. The opossum, Didelphis virginiana, takes its name from two different languages. The name Didelphis is made up of the two Greek words â€Å"di†, and â€Å"delphys† which stand for â€Å"two wombs† referring to the female opossums paired reproductive tract. The name â€Å"virginiana†, means â€Å"of Virginia† in its Latinized form. This refers to the where the first scientific specimen was found and catalogued (The Georgia). The taxonomic classification of the opossum is as follows: Domain: Eukarya; Kingdom: Animalia; Phylum: Chordata; Class: Mammalia; Order: Marsupialia; Family: Didelphidae; Genus: Didelphis; Species: Virginiana (Savage 45). The appearance of D. virginiana is quite unique. It has a length of approximately 650 – 900 millimeters (25.4 – 35.1 inches), and a weight of approximately 1.8 – 4.5 kilograms (4 – 10 pounds) (Yahner 11). The opossum has a gray, or black, hair color scheme, with a scaly prehensile tail (Merritt 33). The forefeet and hind feet both have five clawed toes. However, the hind big toe is opposable and resembles a thumb (Merritt 35). The opossum, being a marsupial, also has a pouch (Yahner 11). The life cycle of Didelphis virginiana is quite interesting, ... ...bdominal cavities of the given marsupials, and enclosing them in pens at a constant temperature, the researchers were able to get more exact mean body temperatures for the marsupials. They were also able to find the circadian, or twenty-four hour, rhythms in the body temperatures of the marsupials. The mean body temperature for D. virginiana was found to be 35.1 degrees Celsius, with a range from 33.8 to 36.3 degrees Celsius. The lower range of the temperature was found to be during the day. The results for D. virginiana were similar to previous calculations of mean body temperature. The data from this study was compared to eutharian mammals, which showed similar differences among their species (Gemmell). In conclusion, the text of this paper has covered a description of D. virginiana, its ecology, history, and research involving the species.

Plot Summary: Volpone, by Ben Jonson Essay

Ben Johnson was an Elizabethan English poet, dramatist and actor. A peer of William Shakespeare, Johnson was born in 1572 and died 65 years later. He was a man of extraordinary literary talents and despite the fact that he didn’t go to university he was acknowledged as one of the most learned men of his day. He was friends with many of the other well known Elizabethan writers like Bacon, Shakespeare and Donne; in fact, Shakespeare even acted in the 1616 production of Johnson’s play ‘Every Man in His Humour’. Johnson is best known for his poems and satirical plays, of which the 1606 ‘Volpone’ is considered to be one of his best examples; it is a comedy/satire about avarice and lust The play takes place over 24 hours in seventeenth-century Venice, and opens at the home of a nobleman from the city – Volpone (the ‘fox’). Seemingly, this nobleman is actually a con artist who has gained his impressive wealth through deception and other dishonest ways. As the play starts, Volpone is with his servant Mosca entering the shrine where Volpone keeps all his wealth and treasures. The reader learns that Volpone is about to deceive yet more people as he tries to trick his alleged friends – Voltore (the ‘vulture’), Corbaccio (the ‘raven’) and Corvino (the ‘crow’) – into believing that each is Volpone’s heir and that he is actually on his deathbed. What these three men do not know is that Volpone is in perfect health and feigning his illness to receive expensive â€Å"get well† gifts from these fortune hunters. Mosca, Volpone’s â€Å"parasite† tells each of the men individually that they are heir to Volpone’s fortune so that they will return with yet more gifts. Voltore, who is a lawyer by trade, offers the ‘dying’ man a gift an expensive platter, the old gentleman. Corbaccio is talked into disinheriting his son Bonario by Volpone and Mosca in favour of Volpone; Corbaccio thinking that Volpone is dying is not concerned about this. This leaves the third man – Corvino, a penny-pinching merchant with a beautiful young wife, Celia, whom he guards closely; however despite him being such a jealous husband his greed lead him to proffer Celia to Volpone to take to his bed and to be a comfort to him as he lies dying. When Volpone attempts to force himself on Corvino’s young wife, he is interrupted by the appearance of Corbaccio’s son, Bonario. Celia and Bonario, but the three fortune hunters (scared of Volpone losing his wealth which they each think will soon be theirs take out counter-charges against the young couple of adultery and fornication. Volpone loves the chaos that he has caused and so decides to make more sport for himself by staging his own death and leaving everything to Mosca, just so that he is able to witness the mayhem that will occur. Mosca, however, as he prepares for a large and expensive ‘funeral’ for his ‘late’ employer, has less and less to do with Volpone. Mosca also is suddenly elevated from his lowly position to a man of wealth, an eligible bachelor As Volpone watches the changes in his old servant, he decides to ‘come clean’ and expose his own guilt as well as that of everyone else in the matter servant. When the truth is learned, the judges take away all of Volpone’s wealth and give it to charity; the lawyer Voltore is barred from court, all of Corbaccio’s fortune is given to his son, Corvino is paraded through Venice and derided, Celia is returned to her family taking with her three times the amount of dowry that she took to her husband and Mosca is sentenced to a life in the galleys for masquerading as a man of substance.

The Importance Of Stakeholder Identification For Project...

Introduction For a project, stakeholder identification forms the initial step in the stakeholder management process. After the project manager confidently identifies the stakeholders, the remaining steps in the process can proceed. However, without accurate identification of the members in the set of stakeholders, the project is at risk of unexpected impacts that could delay or cancel the project or incur unforeseen financial costs to the bottom line. This paper examines the importance of stakeholder identification for project management, outlines various strategies for identifying stakeholders, discusses the implications and identification of project management bias in analyzing stakeholders, and discusses the addition of stakeholder management as a new body of knowledge within A Guide to the Project Management Body of Knowledge (PMBOK Guide) by the Project Management Institute (PMI). 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