The Basic Principles of Reganomics

The election of the Regan-Bush Republican ticket of 1984 brought many unprecedented and controversial policies to the US economy. Many of these policies,including Reganomics still affect our economy as a whole and are still major points of debates today. Reganomics was not solely based on economics, but rather the included a sense of having moral foundations. Government intervention and regulation of the economy were seen as economically harmful and furthermore morally wrong. It was believed that economic affairs should be left to the wisdom of God and his guidance would produce a The moral obligation together with extreme Kenseyan theories were the guide to the basic principles of Reganomics. Their objective was to follow a laissez faire attitude,or a hands off government policy. They also wanted to rely on the wisdom of the of the market, meaning that the market is smart enough to take care of and troubleshoot itself,and they tried to use a policy of deregulation which would allow companies to make their own economic decisions with out the government limiting their choices. The administration was also weary of anti-trust laws which did not allow for monopolies in The â€Å"deregulation of businesses† mentality was simple and encompassed two major points. The points were to lower taxes and allow businesses to make their own decisions without fear of government intervention. Their idea was that if you lowered taxes in general, business would have more money to produce more, to more they would hire more workers, and consequently due to the surplus of money, their would be more spending, investing, and saving. This proves that individuals would gain along with the business. Ronald Regan said, â€Å"Lower takes would spur business to invest, and send Americans rushing to stores to spend† (Regan). In the short run deregulation produced greater competition and lower prices for consumers. The long term effects were that the savings and loan industry collapsed due to fraud and mis-management. Regan knew that deregulation could possibly have adverse effects if there was no degree of regulation at all, so preventative measures were set in place. One such preventative measure was the Office of Information and Regulatory Affairs (O. I. R. A) which insured that deregulation dhered to cost benefit principles to the maximum extent possible. â€Å"If government is the problem, not the solution, you do not solve problems by applying a bigger problem to them† (Regan). Another notion behind Reganomics was the Laffer Curve, which conveyed the idea that tax cuts would increase tax revenue. The Laffer Curve is based on the ideology that government should provide a climate in which the incentives for individuals to pursue their own economic progress wouldn†t be hindered by governmental taxing, spending, regulations, and/or monetary policies. It is also based on supply side economics. Supply side economics was an economic policy designed to stimulate output and lower unemployment by increasing production in the economy. It allowed the free market to play a greater role in the economy while the government took on a lesser role. â€Å"If government is the problem, not the solution, you do not solve problems by applying a bigger problem to them† (Regan). The Regan administration believed tax and spend policies led to a weak economy. Accordingly, they passed the Tax Reform Act of 1986 (TRA86) which reduced individual income tax liabilities and raised corporate income tax liabilities. They also passed ERTS. ERTA gave a 25% cut in individual marginal tax rates over a three year period. It set an indexing of individual brackets, personal exemptions, and standard reductions; it reduced all individual taxpayers taxes, and gave percentage reductions for lower and middle class incomes exceeding those given for the rich. Bill Clinton said, â€Å"For 12 years the driving dea behind American economic policy has been cutting takes on the richest individuals and corporations†¦ â€Å". This is true, with the exception of ERTA, all the tax changes during the eight years of Reagan†s administration were unmistakably pro-business and When Reagan cut the taxes for wealthy individuals and business† he believed that it would contribute to a stronger base economy, in turn the benefits of a strong base economy would â€Å"trickle down† to reach everyone, even the poorest Americans. Ronald Reagan said, â€Å"Lower taxes would spur business to invest, and send Americans rushing to stores to spend† (Regan). The Reagan Administration believed lower taxes were beneficiary in this manor and high tax rates only further darkened the lines on how our society was typecast, rather than break down those barriers. Furthermore high tax rates inhibited social mobility into the upper class. â€Å"The real losers from soak the rich tax are not the rich, but the would be rich. † This is true because there would be no trickle down Major elements in the initial Regan policies were spending slow downs aimed at eliminating budget deficits in 1984 and producing budget surpluses thereafter. As well it was aimed to slow down the growth of federal outlays and change their composition. However the initial policies of the Reagan administration coupled with stock market changes were so bold and dramatic that it caused the 1981 – 1982 recession. After be in a state of recession, things did get better. Within 18 months of Reagans term, poverty began to decrease. The U. S also experienced an unprecedented export boom in the 1980†³s which turned out to be the longest economic boom in U. S history. Along with this came 20 million new jobs and it was the first time the electorate ad an intensely satisfied voting majority. † Reagan was the only U. S. president since WWII to reduce both inflation and unemployment while expanding the total number of jobs for all Americans† (Dunn) However when this great prosperity was acquired in such a short period of time, people got nervous and began to make false accusations against the Reagan administration which were called myths. Myths were created by economists that either did not look at all the statistics or made assumptions before they had all of the statistics. Some of the myths that came from these economists were that Reaganomics caused Americans to divest and de-industrialize. There were also presumptions that every dollar of taxes that were cut would lose a dollar of revenue. They also offered that record deficits were caused by the reduction in marginal tax rates. There is no basis for insisting that tax policy developments were responsible for the budget deficits of the Reagan years. (Ture 35) Some myths created even went so far as to say that the deficits were deliberate in order to reduce social spending while increasing defense spending. In fact the contrary is true. Transfer payment spending for social services rose 19. 7%, from $344. 3 billion to $412 billion, on programs that provided income, food, healthcare, housing, education and training, and social services to poor families. (Ture 39) This is proving that social programs were not hurt under Reagan. Economists also gave the impression that Reagan policies favored the rich at the expense of the poor and that the rich only paid a larger shave of taxes because they had a larger share of income. This is not entirely true. Even though the rich may not have seemed to have paid more taxes they actually did buy investing in more taxable securities and fewer tax exempt securities. This produced more tax revenue. Rather than being a tax and spend economy, the Reagan administration lended itself to a borrow and spend economy that produced many deficits. What was the cause of these enormous debts? Many factors added to the accumulation of the debts. Buying and thus building up the U. S. dollar to an artificiallyhigh level made U. S exports more expensive, U. S imports cheaper and it added to the rade deficit and the foreign debt. This was also known as â€Å"Mexicanization† of the economy. (Galbraith 3) Large budget deficits from the loss of tax revenue, was brought about by the loss of real output during the 1981 – 1982 recession, and unanticipated disinflation. That fiscal year (after adjusting for inflation, tax collections did not increase) brought high interest rates which attracted foreign money. This pushed up the dollar and caused the trade deficit. The deficit was also caused by large defense and The Reagan administration had little responsibility for the budget deficits. The bills for spending that the Reagan administration originally proposed were altered by congress. The deficit was therefore caused by congress† permitted spending excess and not excess tax cuts. It seems that through supply-side economics savings didn†t increase but allowed for a huge growing debt that nearly tripled during Reagans administration. On the good side of things, deficit spending helped to stimulate demand and trigger economic recovery. It also stimulated a growth of employment in non-investment grade firms by 17. 3 million which was due to junk bonds. (Zycher,43) On the down side, the U. S is presently the worlds largest debtor. Public and Private debts carrying over from the past decade weigh heavily on the government,business†, household†s and financial institutions† well being. Reganomics could have been greatly successful if government spending would have been checked. â€Å"If government had borrowed in order to fund public capital, rather than military spending and tax breaks for the wealthy, the debt burden would be greatly reduced† (Sawicki). Looking back now we can truly understanding the full effects of Reganomics on our economy.

Social Class and Redneck Neighbor

Marketing 542 January 23, 2010 Clash of the Classes: Middle vs. High Proles What was once categorized by the rich and the poor, it is undoubted that society today cannot be so easily defined. In the words of Jennifer Steinhauer, â€Å"One thing modernity brought with it was all kinds of identities, the ability for people to choose who you want to be, how you want to decorate yourself, what kind of lifestyle you want. † With this vast amount of â€Å"identities† comes the need for a more structured class designation as well as a process for de-blurring the lines between them. While Paul Fussell has recognized nine classes in this country, the focus of this analysis will rely on two of them: Middle and High Proletarian, or High Proles. The researched differences between these groups will be examined and then related to the real-world example of Redneck Neighbor. Marketing practices and how they can be applied to this situation will also be referenced. As noted, Fussel recognizes nine classes and has them separated into three segments: high brow, middle brow, and low brow. At the top of the high brow segment lays Middle class and then High Proles just below it. While the two classes may be adjacent to one another, the fact that Middle is just one class away from the high brows says enough for them to have a completely different set of distinguishable attributes. It is this â€Å"so close, but not close enough† mentality of the Middle class that explains their desires and state of mind. According to Fussel, the Middle class is the most insecure class and practically obsessed with doing the right thing. Not only do they try to keep up with the high brows in what they consume, but also by how they consume it. Thorstein Veblen says it best with â€Å"Closely related to the requirement that the gentleman must consume freely and of the right kind of goods, there is the requirement that he must know how to consume them in a seemly manner. † The Middle class is constantly worried about their own style and associate themselves (sometimes imaginably so) with money, power and taste. Conversely, High Proles are â€Å"†¦not consumed with worry about choosing the correct status emblems, these people can be remarkably relaxed and unself-conscious. They can do, say, wear, and look like pretty much anything they want without undue feelings of shame, which belong to their betters, the middle class†¦Ã¢â‚¬  (Fussell, pg. 46). It appears as though the Middle class works very hard to hide the fact that they aren’t in the high brow segment while High Proles are proud to be who they are and don’t care what others think. The middle class is petrified of falling down in ranking and the High Proles aren’t really striving to get ahead. It is this clear contrast between the classes that makes the Redneck Neighbor story so relevant and support the findings of various researchers. Based on the above information, it is clear that the author of the website is a member of the Middle class while the neighbor, or John Doe #8 (JD8), is a High Prole. Coinciding with their obsession to look the part and not â€Å"fall down† in class, it makes sense that the author is terrified of being associated with his lower classed neighbor. He makes complaints to the police on numerous occasions, tells his friends every single detail of his neighbor’s existence to the point where he feels the need to start his own website documenting it for the whole world to see. This is his attempt to save face and let everyone know that he disagrees with the â€Å"manner of consumption† by his neighbor. This supports Veblen’s quote â€Å"Since the consumption of these more excellent goods is an evidence of wealth, it becomes honorific; and conversely, the failure to consume in due quantity and quality becomes a mark of inferiority and demerit. † While talking to the builder, the author quotes â€Å"†¦ the builder starts referring to the neighbor in a less-than-amicable fashion – someone else on my side! Perhaps he feels a bit guilty for his privacy invading actions but is able to justify himself by hearing someone with the same demeanor. One of the biggest mistakes the author makes is associating JD8’s social class with money and the car he drives. As Fussel points out, â€Å"It’s not riches alone that defines these classes† (pg. 27). And we know from Steinhauer’s example of entry level luxury ca rs that in these days, the kind of car you drive cannot be directly related to your worth or class. Additionally, Veblen’s idea of consumption in the city versus country comes into play. Since the residents are in the suburbs (or country), it is pretty much known throughout the town the value of each home/family. This fear is expressed by the author when he says, â€Å"I can see the property value falling faster than his mailbox post. † Even with all of the accused faux pas, it does not appear that JD8 is intentionally trying to provoke others. Contrary to the previous statement of High Proles not trying to get ahead, it does appear that the neighbor is making an attempt to update his property with the common items found in the neighborhood: mailbox post, fish pond, herb garden and flagpole. But going back to the research findings of Fussell and Veblen, it is not the fact that he is trying to install these items but that he is doing them in the â€Å"wrong† way. And coinciding with the attributes of a High Prole, JD8 is not ashamed and obviously doesn’t care what others think. An interesting aspect of the Redneck Neighbor case was the small hints that the author was a bit of a redneck himself. Calling the basketball hoop a â€Å"basketball goal†, telling the police officer â€Å"the next time we have a problem some damn body is going to jail†, and feeling the need to clarify what livestock is, gave the impression he was not as high class as he hoped to portray himself. What does all of this mean for marketers? It means that it is getting harder to categorize customer segments in which to market. As you can see from Redneck Neighbor, today’s consumers have unpredictable buying patterns. JD8 spends money on a luxury brand car, but not on household items. This somewhat new phenomenon is not unique to JD8. Many people splurge on higher end items like Godiva, BMW, and Whole Foods yet still go to Costco for their day-to-day needs. According to Steinhauer, â€Å"Where once they pitched advertisements primarily to a core group of customers, now they are increasingly fine-tuning their efforts, trying to identify potential customers by interests and tastes as well as income level. † Author Douglas Holt believes that the best way to capture consumers is to create stories that affect how they think about themselves in the world. This technique could be very beneficial for Middle class customers since marketers could play up on the idea of high brow society. With High Proles, marketers could take advantage of their independent mindset and pride in their advertising campaigns. Hardly anyone can argue that the classification of consumers has become more difficult over the years and the population as a whole is harder to reach. Marketers constantly need to think of new ways to get their message across and have it register within consumer minds. It is unclear what the future holds for marketers, but it is an exciting challenge to move away from the old teachings and tailor them to the constantly clashing classes of our time. Word Count: 1,277

Comparing two main characters from the Poisonwood Bible by Barbara Essay

Comparing two main characters from the Poisonwood Bible by Barbara Kingsolver - Essay Example Rachel was an eldest daughter of the Price family, and the most unlikely person in the world who can bear with Africa. Incidentally, she happens to remain in the South Africa, successfully running a luxurious hotel, the Equatorial. However, she with several failed marriages was a disillusioned person. Rachel is the youngest of the wise sisters. Leah decides to live in Angola. She has her own humble family with a well-educated black man, called Anatole. Moreover, along with this, she spends her days, devoting her whole life for the needs of the native people; and her family in Africa. Though Rachel and Leah were of the same parents, and shared their childhoods together, they have different personalities and values. In addition, their approaches to overcome various hardships when they were young are dramatically different. Some of the extreme situations show Rachel as a person chasing her selfish and materialistic goal, with her superficial scope of thoughts. Leah, on the other hand was a model of what people ought to be. This gradually shapes Leah's life into a meaningful one, whereas Rachel lives a meaningless life. The beginning of the book depicts the arrival of the Price family to Congo. The way, Rachel and Leah respond to this new environment and their efforts to understand the new cultures are quite different. They are poles apart in the personalities and their perspectives of life are different from each other. Throughout their lives, they show different attitude to the issues, they encounter. Rachel, as a closed-minded newcomer, avoids the Congolese and their culture. She constantly complains about the discomforts she meets here. Her first words uttered in Congo demonstrate her closed-mindedness. "Hey, Ade, Leah, isn't you glad you use Dial Don't you wish everybody did" (26). Although she definitely knows that Congo is not like North America, and is a less civilized, she cannot help saying these impolite words. This proves her immaturity. Rachel's selfishness is highlighted in the event of the invasion of flesh-eating ants. In the middle of the chaos, she worries about, one precious thing. Something from home. Not [her] clothes, there wasn't time, and not the Bible - it didn't seem worth saving at that moment. It had to be [her] mirror .Her idiotic but knowing selfishness does not stop: in the running crowd, she immediately recalls "something she'd read once: if ever you're in a crowded theater and there's a fire, you should stick out your elbows and raise up your feet" and as consequence, she "stuck [her] elbows very hard into the ribs of the people who were crushing in around [her], and kind of wedged [herself] in" and " picked up [her] feet" (363). As an eldest of four girls, Rachel should have at least worried about her younger sisters. Instead, she chooses to worry about her mirror and decides to use other people's power to move her body along to the safe place. From these instances, a reader can conclude that Rachel's personality is immature, selfish, and superficial. Leah, in contrast shows extremely different attitude toward the new environment and her personality is clearly differs from that of Rachel. Leah is opened-minded and respects the new culture. Soon after the Price family settles in the Congo, Leah makes a friend for the first time. She describes her friend Pascal to her family as "[her] nkundi: [her] first real

Poverty Alleviation and Micro-credit Institutions Essay

Poverty Alleviation and Micro-credit Institutions - Essay Example rse credit and loans to people and institutions who have repayment capability and at the same time, ensure that loans are against securities that can be used to compensate them in case of default in repayment. These criteria become irrelevant for informal sector where people are living below poverty line and have neither job security nor any other kind of financial backing. To improve the living conditions and raise their living standard, non formal mechanisms of micro-credit become essential in the rural areas. The micro credit is designed to promote empowerment through income generating activities. The institutions facilitate easy credit to poor and ensure repayment through innovative schemes and incentives. The problems due to asymmetry in information, screening and enforcement are often overcome through integrated approach and providing inter-linkages to the credit and the commodities. The institutions also promote formation of self help groups and compulsory contribution to the emergency fund that can be utilized by the members in times of emergencies. The micro-financing is one of the key factors of poverty alleviation programs as it helps to provide the poor with the necessary credit to start income generating activity and thereby raise the living standard of the people in the developing countries. The innovative mechanisms and integrated approach help facilitate minimum standard of living and access to medical facilities, food and housing for every human being, irrespective of race, religion, political belief and socio-economic conditions. To encourage more funding through other international aid agencies and private donors, World Bank must facilitate requisite information and updated database of beneficiaries and poverty alleviation programs of under-developed and developing economies. The bank should encourage more proactive participation from the non government agencies and corporate houses to contribute to the socio-economic development and

Intellectual History Term Paper Example | Topics and Well Written Essays - 2250 words - 1

Intellectual History - Term Paper Example Peter Warren discovered remains of children dating back to 2000 B.C. The buildings found during Warren’s expedition encountered a massive earth quake. According to Warren, the remains were of the children who were sacrificed, in order to prevent the anticipated earth quake. Sacrifice is one of the most striking concepts existing in the history of humankind; animals, humans and sometimes even gods were sacrificed in human history. Human sacrifice is still practiced by many civilizations. In accordance with Hinduism, the wife has to sacrifice herself and burn with her husband in order to stay with her husband after his death. In Mexico, children were sacrificed to be blessed with plentiful rains for the harvest. Sacrifice is primarily deemed as a link between the divine/spiritual and subordinate humans. It customarily has aspirations like doing away with the wrath of gods and altering the behavior of gods in favor of people offering the sacrifice (The Watson, 134-135). Like the era of the bulls and sacred stones; in India, Indra the goddess was compared to the bull. Bulls were sacrificed in the ancient civilization of Iran. In North and South America, parts of lands in Pacific Ocean and Mexico, a young girl was beheaded every time a crop was ripe.   Early variant of sacrifices did not involve any kind of animals; in fact the animals were worshiped. Self denial is also an important factor that is entailed in making a sacrifice. Denial of self for the benefit of others and in the way of gods is significantly increasing even in today's times, in order to maintain balance between human and spiritual world. Ancient civilizations like ancient Egypt, Sumer and India followed the philosophy of sacrifice. Another fundamental concept in faith of people, is belief in sky-gods; the concept of sky-gods. Movement of sun and its relation with change of climate, changing over day into night (referred to as birth and re-birth of sun) was a mystery for humans. Likewise, t he moon cycle; its appearance and disappearance and connection to tides in sea and female menstrual cycle made it more mysterious for the humans. The Indian god Dyaus, Roman Jupiter and Greek Zeus all came from a single concept pertaining to sky divinity. Sun god was considered a symbol of males and moon gods being a female symbol. Sun god was also worshiped by ancient believers of Egyptian religion. The concept leads to another idea that exists in humans known as â€Å"afterlife†. Generally after life means existence after the physical death of the body. In ancient Egyptian religion, bodies were buried along with food, water and other necessities; adopting the concept that after burial, body will be alive again. As sun and moon appear and disappear; In the same way some sort of post-mortem existed in the minds of people. This leads to another mysterious concept known as â€Å"Soul†.   According to peoples soul is contained in different parts of the body such as eyes , ears, stomach, and above all the heart. Hindus believe that soul is thumb sized and it resides in the heart. Greeks perceived soul as light or fire of the heart. Ancient Egyptians believed that there were two other beings present in addition to body itself, called â€Å"Ka† and â€Å"Ba†. â€Å"Ba†, in medieval Egyptian religion was deemed a soul mirrored by a human headed bird. â€Å"Ka† was the protector of body. Death can manifest only if it had permission from â€Å"

Police civil liability Essay Example | Topics and Well Written Essays - 8000 words

Police civil liability - Essay Example The pursued entered into other two officers and they were ordered to block the truck by closing the line it was driving. Tipsy did not stop but closed the line and collided with Oldsmobile. After collision, Tipsy and other two passengers in the Oldsmobile lost their lives. There after, the plaintiff filed a claim against the police officers, police chief and the police departments. In the case, the plaintiff claimed that the officers had violated or gone centrally to Section 1983 amendments. In the case, the plaintiff stated that the police did not observe the laws of pursuit in conduct of high speeding. In the case, in order to make the ruling the court must consider some facts. The court must prove that the circumstances which led to accident were as a result of police action. The pursuit involved the death of three people and the court must determine whether the action by police was the main cause of the death. In order for the officers to be held reliable for the death, the action by the officers must be the cause of the incident (Kappeler, 2006)v. Before making the judgement, the court must examine different facts. The court must examine the cause of the pursuit. The court has the duty to examine why and when the pursuit took place. The court also must examine whether the police adhered to the pursuits laws. The police also must examine the cause of accident and events leading to the accident. In the case the police officers was investigating a shoplifting crime. The officer started the pursuit in order to enforce the law by arresting a suspect. The police officer did not contact the pursuit for personal gains but was as a result of performing his duty. The court will determine whether the police officer acted for personal gain or for constitution purposes. In the case the police was enforcing the laws of the state. The court will also have the duty of

Summary Article Example | Topics and Well Written Essays - 250 words

Summary - Article Example This is best done when they understand the company’s value creation process and have analytical tools such as a discounted cash valuation model that helps in forecasting revenues, expenditures and other performance measures. DCF (discounted cash flow) models have been used in the past to record and track company performance and would especially be used during crises (Slogan Management Review, n.d). Out of them, finance experts would be able to determine whether the information presented by directors is grossly incomplete or misleading. It is however a fact that the model is subject to manipulation and may not reflect the true state of events. According to the Slogan Management Review (n.d), an effective DCF model will always delineate the operating performance level that is necessary to achieve preset valuation targets. However, company directors must be able to distinguish temporary and permanent events for the successful use of DCF models. DCF models by nature are known to give directors the ability to maximize the value of shareholders in a manner that can be monitored. They also are capable of highlighting the differences between cash flows and accounting accruals. Yet again, DCF models require the explicit accounting of resources for future growth while also providing an additional tool for executive compensation. Such models, in spite of their numerous advantages may not be able to detect false revenues among other accounting tricks (Slogan Management Review, n.d) such as was in the case of Enron. With an aim of solving problems related to the incompetence of governing boards, some organizations have opted to redefine the role of their directors. Such measures are taken to ensure that board members act in the best interest of shareholders in all their activities. Some critics have also suggested that a separate staff should be

Exam Speech or Presentation Example | Topics and Well Written Essays - 1250 words

Exam - Speech or Presentation Example This leads to mistakes while driving and accidents follow. Similarly, driving at extremely high speed increases the number of accidents because any slight driving mistake at such high speeds are fatal. Reckless driving also increases rates of accidents through collision with other vehicles, pedestrians or objects along the road (Hour, 2007). The coefficient of determination can be directly obtained from excel’s summary of output. It is given by the value for R2 in the summary output. According to the data, the coefficient of determination is given by, Coefficient of determination represents the proportion of the dependent variable that can be explained by the explanatory variables. The value from the output statistics therefore indicates that the regression formula explains about 64.32 % of the data. The correlation coefficient indicates the degree and direction of correlation between variables. It shows how strong the variables are related with high absolute values (closer to one) indicating strong correlation while low absolute values (closer to zero) indicates weak correlations. Positive values of the coefficient of correlation indicate a direct relationship between the variables while a negative value indicates an inverse relationship between the variables. The value of coefficient of correlation, 0.802, indicates that the age and number of concerts visited are directly correlated. The correlation is further identified to be strong as the coefficient is closer to one. The model represents a multiple regression. This is because simple regression is characterized by existence of a single explanatory variable while multiple regressions have more than one independent variables. The model under consideration has three independent variables, which qualifies it for a multiple regression. Where y is the age at death and x1, x2 and x3 are

The Smell Essay Example | Topics and Well Written Essays - 1250 words

The Smell - Essay Example " "Yeah." his friend agreed, "He was really good looking and smart. But his personality doesn't really match his intelligence and appearance." I believe that this is the typical way we assess someone. We might look at their appearance and their behavior. We might listen to them while they're talking and sometimes hear about their reputation from other people. These are the basic interactions we encounter and do everyday. The senses used to assess an individual are not without restrictions. We cannot simply judge the person based on just seeing, hearing, tasting or feeling them. And we cannot simply just touch a person without reason; the same goes with taste. However there is one among the five senses that is oftentimes undervalued as a basis for judging a person's character. Nobody evaluates someone by starting with, "That guy smells." in a normal conversations. They can be read in some forms of literature like romantic novels or poetic impressions. But the writers had these words thought of prior to producing their literary works. In other words, they were planned. These things do not really happen instantly. Now that we look at it, does it mean that the sense of smell as a judge for a person's character is not worthy of merit Is the sense of smell being overlooked Probably some people think of smell as simply saying, "I have a great fragrance." or "I do not stink!" There is, however, another defi nition. When writers or chatters mention "the smell" in their writing or in conversations to describe someone, the role of smell doesn't end in the statement, "I do not stink!" Smell is further defined as the faint aroma coming from the body. I want to say that this is a more sophisticated way of judging a person, when we merge each part into one big package. I have had a very inspirational and sensational impression from one book called Das Parfum by Patrick Suskind. The main character, Grenouille, was extremely gifted in the fleeting realm of scent. Unfortunately he went through a difficult childhood and had only hatred in him. The combination of the two-his gift and his hate-drove him to his erroneous cling to "the perfume." His obsession led him to murder a woman so that he can use every part of her body, including her hair, to make the greatest scent that is the only one in existence in the entire world. The scent he created was not artificial, but rather it contained the natural essence of the woman while she was still alive. What Grenouille did was to preserve her every waking moment as fresh as possible. The people who experienced to get a whiff of the perfume felt as if they reached the goal of desire, as if the snow melts in the radiance of the morning sun and collapses down on the ground. Grenouille was not only an expert in c ompounding but he also had an amazing skill of pulling out what's real from the public. That skill was his unique sense of smell which distinguished the real meaning of other peoples scent. Today, people are still conscious about how they smell. To illustrate, what is normally our task after rising from our beds What is our top priority; the first thing in our minds that we should do We could have a coffee with toast, or if we had more time, we could read the newspaper. Normally after finishing our morning routines, we would then go to work or school. Sometimes though, when we are really in a hurry, we tend to skip or forget to eat our bountiful

Marketing Communication Strategy of Standard Chartered Bank Essay

Marketing Communication Strategy of Standard Chartered Bank - Essay Example The revenue of the bank is generated more than 90% from the Middle East, Africa and Asia whereas the bank is United Kingdome based. (About, Standard Chartered Bank) The primary nomination of the Standard Chartered Bank was listed in London Stock Exchange and appears in the FTSE 100 Indexes. Till the 23rd December, 2011, the market capitalization of the Standard Chartered Bank was ?33Â  billion. This capitalization was entitled to the 13th Largest Primary Listing among all the listed companies in London Stock Exchange. (FTSE All-Share Index Ranking, 2012) The secondary listing of the Standard Chartered Bank was processed in Hong Kong Stock Exchange and then National Stock Exchange (India). The major stock holder of the firm was owned by the Government of Singapore, owned Temasek Holdings. Background The Standard Chartered Bank named after the merger of two original separate banks which was working before this merger with the name of The Standard Bank, based on British South Africa an d used to be located at The Chartered Bank of India, Australia and China as well. The Bank titled Standard Chartered Bank was founded in 1969 after merger of two independent banks. (History, Standard Chartered Bank) History of Standard Bank: The Standard Bank was established in Province of South Africa, Cape in 1862. It was the British bank founded by the Scotsman, John Peterson. The Standard Bank was the identical in financing on development of the Diamond Fields at Kimberley on 1867. The network from north to new town at Johannesburg was extended after the discovery of gold in 1885. (History, Standard Chartered Bank) History of Chartered Bank: The Chartered Bank was founded in 1853 by the Scotsman James Wilson by following the grant of Royal Charter through Queen Victoria. This charter was initiated the very first branch from Mumbai, Shanghai and Kolkata in 1858, subsequently, from the Hong Kong and Singapore after one year. The Chartered Bank start issuing the currency notes of H ong Kong Dollars in 1862 with launching of Suez Canal in 1869 and extended the operations towards China. (History, Standard Chartered Bank) Results of Strategies in shape of Awards Achievement The Standard Chartered Bank achieves many awards every year, which is the market recognition in every region of available market. Winning of the awards is the recognition of ideal and streamlined strategies accomplishment. The designing of the strategies was based on the prior research and development of the each region where the branches of the Standard Chartered exists. In the course of research, the management knows the market trend, requirement of the consumers as well as of the corporate and institutional sector. Furthermore, it relies on the market segmentation and providing the easily availability of the innovative financial products which covered the wide range of customers. The employees of the Standard Chartered Bank are well qualified and experts in industry and well diversified emp loyees. The proper training and development provides to each employee after detailed observation and analysis. There is most influential and diversified environment for workers who face the new challenges every day with new dynamic. The strategy planned by the management of the Standard Chartered Bank for the each origin of the focused market separately by considering the culture, religion, language and norms of the

Gothic literature Essay Example for Free

Gothic literature Essay In response to the question â€Å"is gothic literature purely escapist? † considering Austen’s Northanger Abbey and Walpole’s novel The Castle of Ontranto, which is recognized as pretty much establishing the genre, the answer is yes. Castle of Ontranto Brief Plot summary The plot of Castle begins full tilt as Conrad, son of Manfred of house Otranto, is crushed by a giant helmet on his wedding day, also his birthday. Because of the marriages political connections, Manfred decides to divorce his wife, Hippolita, and marry Conrads betrothed, Isabella. Amid speculations about an ancient prophecy claiming That the castle and lordship of Otranto should pass from the present family, whenever the real owner should be grown too large to inhabit it, Manfreds second union is disrupted by a series of supernatural events involving many oversized limbs, ghosts, mysterious blood, and a true prince (Wikipedia). Castle of Ontranto represents the quintessential Gothic story. It created the genre. Key examples of this can be seen as follows: 1 Note: that Gothic literature is escapist through the use of contrasting specific elements to create conflict and draw the attention of the reader. (the main themes most common in these two novels are: horror vs romance, good vs evil, and the element of mystery basically the known vs the unknown. ) The Castle of Ontranto opens with the line â€Å"Manfred, Prince of Otranto, had one son and one daughter: the latter, a most beautiful virgin, aged eighteen, was called Matilda (chp1). † This is a very fantastic scenario from the main character being a Prince to the daughter being a beautiful eighteen year old virgin in an era when many women in prestigious families were married off by the age of 14. The author goes on to point out how the son Conrad three years younger than Matilda is ugly sickly frail and pale. The act of immediately contrasting Conrad’s ugly sickliness with Matilda’s beauty and pure virginity, significantly defines the gothic genre, which is literally defined as â€Å"an important genre of literature that combines elements of both horror and romance. † -Another important contrast other than horror and romance is good and evil. This can be seen in Walpole’s novel through the differences in the characters. The Castle of Otranto revolves around a curse that has been placed upon the family of Manfred, ruler of the principality of Otranto. The curse is slightly ill defined, but apparently threatens the end of Manfreds rule and destruction of his family. Manfred is a greedy man who plots and schemes to outwit this curse. He is clearly the villain of the novel and contrasts strongly with the three leading women, Hippolita his wife, Matilda his daughter and Isabella the intended wife of his son. These women represent the forces of good throughout the novel. NOTE: Heroines in gothic books as well as in contemporary horror is a common theme a major example of this being emphasized in Northanger abbey can be seen when Austen says, â€Å"Chapter 1 But from fifteen to seventeen she was in training for a heroine; she read all such works as heroines must read to supply their memories with those quotations which are so serviceable and so soothing in the vicissitudes of their eventfuly lives. † (page 9) NOTE: examples of Romance as a theme in Northanger Abbey â€Å"Friendship is certainly the finest balm for the pangs of disappointed love. † Jane Austen, Northanger Abbey â€Å"In every power, of which taste is the foundation, excellence is pretty fairly divided between the sexes. â€Å" Jane Austen, Northanger Abbey, 1818

Paths To Salvation In Bhagavad Gita Religion Essay

Paths To Salvation In Bhagavad Gita Religion Essay This essay is about the paths to salvation in Bhagavad-Gita. Others religion such as: Christianity, Islam and Buddhism have one path to salvation. This path to salvation means complete devotion to god. In the Bhagavad-Gita, there are three paths to salvation. They are Bhakti, Janna and Karma yoga, also kwon as the yoga of knowledge, the joga of devotation and the joya of action. Those paths have the same goal. This goal is to achieve salvation. The first path, Bhakti, also known as the Goya of devotion, means loves and blisss goal. The way to attain Morsha is through devotion for god. Keep me in your mind and devotion, sacrifice to me, bow to me, discipline your self toward, and you will reach me![ 1]. In the Vaishavana pantheon, this path has five forms: Santa, Dasya, Sakhya, Vatsalva and Madhura. The first of them is calm devotion for god. The other four involve emotional attachment with god. For example Sakhya is treating god as a friend. Dasya is serving god. Madhuara is treating god as husband. Vatsalya is treating god as a child. In Bhagavad-Gita, there are nine acts of devotion: Sravana, which is hearing of god, Kirtana which is praising god, Sharama, which is remembering god, Padasevana, which is service in general, Arcana, which is worshiping, Vandana which is bowing, Dasya, which is serving like a servant, Sakhaya which is befriending god and athanivedana, which is making total surrender. The salvation and moksha are achieved through complete devotion to krisha. The second path, Janna is also known as the yoga of knowledge. When ignorance is destroyed by knowledge of the self, then, like the sun, knowledge illumines ultimate reality.[ 2]. This path allows people to discover the way of wisdom, to discover what truth is, what is eternal, and what is not eternal. Knowledge leads to the achievement salvation. With the knowledge, people find spiritual peace, which means salvation. With the knowledge, people can break the barrier of the ignorance that trapped the person. Knowledge is like the sunlight that illuminates the dark path. With the knowledge people can find the union with god. Sravana, Manana and Nidhidhyasana are the three means in Janna. The first one is learning from or listening to a teacher. The second one is to remember and reflect on the teaching, and the third one is to meditate on the truth spoken. These means in Janna lead to the discovery of truth. The third path, Karma is also known as the Yoga of action. Be intent on action, not on the fruits of actions, avoid attraction to the fruit and attachment to inaction[3]. This path teaches that the people should act in good faith, which should help other people without anything in return, to act without rancor, without malice, without hate, and to act selflessly. Doing these acts is the only way to find the truth of Brahman that leads to salvation. In conclusion, I would say that the three paths lead to salvation. Gita is considered the most important because require a total and unconditional surrender to god. This path is the devotion of Yoga. This essay is about the central elements of Vedic religion. During this time, there were written sacred scripture. Those scriptures talk about the religion practices that occurred in this time. Those scriptures are known as the four Vedas: Rig Veda, Althar Veda, Sama Veda, and Yagur Veda. Those texts contains hymns and chants that describe this particular moment .During this period, the priests who represent the highest and well educated class in the society were responsible for the rituals and read of the text. Performing rituals became an important part of their daily life. One common ritual was the sacrifice of animals. Also, chanting and prayer were common religious practices too. The rig Veda is considering the most important of the four Vedas. It Contains 1028 hymns, those are divided into eight or ten books. Those hymns contain some wonderful pieces of poetry and were used in rituals. The rituals were performed by the priests, who were responsible for everything. I would say that those rituals were for some noblemen and for the wealthy. In these rituals people prayed for rain, prayed for their family, for the long life and for their harvest. Jajna was an important method of sacrifice. This means building an altar. The performance was around the altar. Fire and offering were thrown into it. The offering included things like butters, milk, meat, cooked grain, intoxicating drink, and other items. The priests invoke gods to seek their blessing. These rites were performed during various interval of the year. Many purposes were associated with this sacrifice. For example they did it during sowing period, during harvest time, and for some social events. The sacrifice of horse was performed in this period only by the kings. This sacrifice was made in order to prove their influence and valor. In this period, there was no scientific explanation for natural phenomena such as rain, wind, and thunder. People feared them and thus worshipped them. This mean that people worshipped different forms of nature as god like earth, moon, sun, rain, sun and other natural phenomena. They believe that the priest posses supernatural power and could control adverse forces by magical means. In conclusion, I would say that during this period the power of the priest increased and animal sacrifice also increased in the name of the religion. Rituals and hymns became common practices of their daily life. The evolution of this religion gave raise to new beliefs and new gods. This essay assignment is about comparing and contrasting both Hinduism and Buddhism religion. Both the Hindus and Buddhist believe in reincarnation or what happens after the life, both follow the same path in order to achieved salvation. Another point they have in common is that both religions were originated in India. There are differences between both religions. For example, Hinduism believes in the caste system and it has three main gods. Buddhism does not believe in the caste system and does not believe in god. Another difference is that Buddhism spread into others countries and Hinduism stayed in India. One similarity is that both the Hindus and Buddhist religion believe in reincarnation that means freedom or release from the cycle of birth and death. Both believe that there are two places that you could go after the death, either you could go to heaven or you could go to hell. Another point that it has in common is that both Hinduism and Buddhism follow the same path to achieve salvation. A further dissimilarity is that both religions were originated in India. One difference is that Hinduism has many gods that govern different aspects of their life. For example, there are three main gods called Vishnu, Brahma and Shiva. Vishnu, who is the preserver, is represented by water. Brahma, who is the creator, is represented by earth, and Shiva, who is the destroyer, is represented by fire. Those gods were believed to control the forces of the nature. Sacred animals are used in Hinduism in order to invoke gods and seek their blessings. Buddhism is a religion that does not believe in god and follows the four noble truths, which are: suffering, origin of the suffering, selflessness and truth of the Path. The eight fold path describes the ways in which every person must live and also advocates the pursuit of many goals in ones life including wealth, prosperity, happiness and love. Another difference is that salvation in Hinduism is known as morksha. This mean release or freedom from the cycle of birth and death. In Buddhism, salvation is known as nirv ana. This means release from this world and the suffering of the human condition. Another difference is that Hinduism believed in the caste system, which means that the society is divided in four classes; those are Brahmins, which were the highest and well educated class represented by the priests. Kshatriyas , which were responsible for the society. Merriments, which were represented by the merchants and Sudras, which were represented by the lowest class and excluded from the religion. Buddhist religion does not believe in caste system. Another difference is that Buddhism spread into many other countries and Hinduism stayed in India. Hinduism is more understable and comprehendible than Hinduism. Buddhist accepted everybody openly and Hinduism accepted people who were born into the caste system. In conclusion, I would like to say that both religions have differences and similarities. The most common similarities is that both religions have the same goal. This goal is to achieve salvation after the death. Both religions prescribe different ways in order to achieved freedom. One religion believes in god and in the caste system, and the other one does not believe in god and does not believe in the caste system.

Animal farm essay

Animal farm essay Animal Farm Essay Animal Farm by George Orwell is a compelling book that represents the Russian revolution. Although viewing through the eyes of animals may seem like a childish concept, George does well into making sure that the book carries out the message of revolution. I, t  believe that George showed that Animal Farm was influence of the Russian revolution by the naming of the naming of the three pigshe condition of the farm, and because of the storys plot. Many of the animals in Animal Farm show some sort of connection with the Russian revolution. Most animals either represent a group of people, or an in/famous person. As the story starts to evolve from the rebellion to the Battle for the Windmill, the reader notices how the animals start to change. When Mr. Jones gets expelled for the farm, 3 smart pigs take of the farm: Squealer, Snowball, and Napoleon. These three animals all represent dictators the had a part in the Russian revolution. The most significant part about the names given to the pigs is that they all symbolize the dictators perfectly. Napoleon was a tough, fierce looking boar but was not much of a talker. This would symbolize Vladimir Lenin., the man who took the place as dictator after Tsar Nikolas II stepped down. Squealers name was the identity of Joseph Stalin, the man who kept on stalling the people by giving quick, persuasive speeches on how Lenin was improving the country. Snowball is then given to Trotsky because like Snowball, Trotsky split up with Lenin. In Animal Farm, these three pigs basically reenact what took place during the Russian revolution: betrayal, propaganda, and communism. Perhaps the best device Orwell used here was how he portrayed the three dictators as pigs, which shows how the name and appearance of the characters in this book are significant and related to the revolution. A reason I believe Animal Farm is about the Russian Revolution, was the choice of naming for the pigs During the whole book, Animal Farm was in very poor condition. During the beginning, Manor farm was a horrid place to live: with little food and lots of work everyday, it portrayed what Russia looked like during the time of revolution. Only during the early stages of the revolution was the economy slightly better than once before. Each time that Orwell describes the farm, it is always in a different condition, one which usually matched the condition of Russia. When Napoleon was ruling, the farm was in great economic trouble: the animals were always hungry while the pigs and dogs had enough to eat. This shows that the economy did not actually improve the animals lives, but instead started to benefit the other, higher members of society which is exactly what the Russian revolution resulted in. The condition of the house was a symbol of Russias state which shows how Animal Farm is connected with the Russian revolution. The final way that Orwell connects both Animal Farm and the Russian revolution, was by the plot of the story. During the entire book, all of the events that took place had at least some little significance with the Russian revolution. When Napoleon oppressed the animals by killing them, it was portraying what was known as Bloody Sunday. At the beginning of the novel, when Old Major is giving the speech about rebellion, it was all inspired by the old man known as Karl Marx. Even the event in which Mollie leaves shows the connection between the two. The easiest event to determine the the two, was most likely the scene were Boxer is taking away. If you think back to the revolution and back to Boxers motto ( I will try harder), you can easily see the Boxer is representing Russias working class. Because Russias working class was so loyal to Napoleon, most of them ended up for worse then before, and even worse, is the fact that Napoleon tossed away these people as if they were tools. The e xact same can be said for the Russian revolution. Lenin abused his people and Orwell demonstrates it very clearly and profoundly. I believe that George showed that Animal Farm was influence of the Russian revolution by the naming of the naming of the three pigs, the condition of the farm, and because of the storys plot. By renaming and reassigning of few characters and events, George Orwell has described the revolution into a book that can is comprehensive to both little kids and young adults.

Inherit the Wind: Religion vs. Science Essay -- Inherit

Inherit the Wind: Religion vs. Science Stanley Kramer's film, Inherit the Wind, examines a trial based on the 1925 Scopes trial in Dayton, Tennessee. Often referred to as "The Trial of the Century" (Scopes Trial Web Page), the Scopes trial illuminated the controversy between the Christian theory of creation and the more scientific theory of evolution. John Scopes, a high school biology teacher, was arrested for illegally teaching evolutionism to his class. "The meaning of the trial emerged because it was seen as a conflict of social and intellectual values" (Scopes Trial Web Page). Kramer's film dramatizes this conflict between the Christian believers and the evolutionists in "Hillsboro, heavenly Hillsboro, the buckle on the Bible belt" (Inherit the Wind). Prosecutor Matthew Brady represents the values of fundamental Christianity while defense attorney Henry Drummond is the voice of reason and science. Although the two men have been good friends and partners in the past, the case in Hillsboro illuminates the difference in their values. Through the scene on the porch with Matthew Brady and Henry Drummond, director Stanley Kramer illustrates the incessant tug-of-war between religion and science. More specifically, camera angle and Drummond's metaphor of the "Golden Dancer" help deliver Kramer's belief in evolutionism. As the scene opens, Matthew Brady approaches Henry Drummond, who is rocking peacefully on the front porch of their hotel. The tone between the two men is light and friendly and the bland music playing in the background helps to portray the easiness of the scene. The opposing lawyers converse in a genteel manner, unlike their relationship in the courtroom. In response to B... ...lues. As the camera physically turns towards Drummond, Kramer leans towards evolutionism. Not only does this scene confirm Kramer's belief in the theory of evolution; it also expresses reason for Kramer's reservations regarding Christianity. With Drummond's metaphor of the "Golden Dancer, " Kramer enlightens the audience with some of the shortcomings of religion, such as susceptibility to corruption of the church. The porch scene in Inherit the Wind is not completely one sided though. It acknowledges the existence of both theories, resolving that the debate between creationism and evolutionism will continue forever. Works Cited Inherit the Wind. Dir. Stanley Kramer. With Spencer Tracy, Fredrick March, and Gene Kelly. MGM. 1960. Scopes trial web page. http://www.law.umkc.edu/faculty/projects/ftrials/scopes/evolut.htm. Inherit the Wind: Religion vs. Science Essay -- Inherit Inherit the Wind: Religion vs. Science Stanley Kramer's film, Inherit the Wind, examines a trial based on the 1925 Scopes trial in Dayton, Tennessee. Often referred to as "The Trial of the Century" (Scopes Trial Web Page), the Scopes trial illuminated the controversy between the Christian theory of creation and the more scientific theory of evolution. John Scopes, a high school biology teacher, was arrested for illegally teaching evolutionism to his class. "The meaning of the trial emerged because it was seen as a conflict of social and intellectual values" (Scopes Trial Web Page). Kramer's film dramatizes this conflict between the Christian believers and the evolutionists in "Hillsboro, heavenly Hillsboro, the buckle on the Bible belt" (Inherit the Wind). Prosecutor Matthew Brady represents the values of fundamental Christianity while defense attorney Henry Drummond is the voice of reason and science. Although the two men have been good friends and partners in the past, the case in Hillsboro illuminates the difference in their values. Through the scene on the porch with Matthew Brady and Henry Drummond, director Stanley Kramer illustrates the incessant tug-of-war between religion and science. More specifically, camera angle and Drummond's metaphor of the "Golden Dancer" help deliver Kramer's belief in evolutionism. As the scene opens, Matthew Brady approaches Henry Drummond, who is rocking peacefully on the front porch of their hotel. The tone between the two men is light and friendly and the bland music playing in the background helps to portray the easiness of the scene. The opposing lawyers converse in a genteel manner, unlike their relationship in the courtroom. In response to B... ...lues. As the camera physically turns towards Drummond, Kramer leans towards evolutionism. Not only does this scene confirm Kramer's belief in the theory of evolution; it also expresses reason for Kramer's reservations regarding Christianity. With Drummond's metaphor of the "Golden Dancer, " Kramer enlightens the audience with some of the shortcomings of religion, such as susceptibility to corruption of the church. The porch scene in Inherit the Wind is not completely one sided though. It acknowledges the existence of both theories, resolving that the debate between creationism and evolutionism will continue forever. Works Cited Inherit the Wind. Dir. Stanley Kramer. With Spencer Tracy, Fredrick March, and Gene Kelly. MGM. 1960. Scopes trial web page. http://www.law.umkc.edu/faculty/projects/ftrials/scopes/evolut.htm.

Oxidative Stress :: Health, Diseases

Oxidative stress plays a critical role in the pathogenesis of various diseases including cancer, atherosclerosis, ischemic injury, inflammation and neurodegenerative diseases such as Parkinson's and Alzheimer's. As oxidative stress might be an important part of many human diseases, the use of antioxidants in pharmaceuticals and nutraceuticals is intensively studied. Natural antioxidants have been the focus of considerable interest in recent times [22]. To date antioxidant activity of E. cava has been extensively studied and documented. E. cava extracts and the isolated compounds exhibited strong antioxidant activity and this proven antioxidant properties of the brown seaweed as a valuable natural antioxidant source have been utilized into several industrial applications [23]. One of the previous studies [10] has shown antioxidant activities of phlorotannins purified from E. cava on free radical scavenging using electron spin resonance (ESR). The potential antioxidant activities of three phlorotannins namely phloroglucinol, eckol and dieckol purified from E. cava were evaluated and all the compounds showed potential radical scavenging activities and potential inhibitory effects on H2O2-mediated DNA damage as well. In addition, promising antioxidant properties of E. cava were reported with novel phlorotannin derivatives [7]. They have isolated and characterized seven phlorotannins from E. cava and according to the results all the phlorotannins exhibited potent antioxidant properties. Kang et al. [24] have investigated the cytoprotective effect of eckol, which was isolated from E. cava, against oxidative stress induced cell damage in V79-4 cells. Further, they suggested that eckol protects V79-4 cells against oxidative damage by enhancing the cellular antio xidant activity and modulating cellular signal pathway. Antioxidative effect of E. cava dried by far infrared radiation drying was reported by Lee et al. [25]. Methanolic extract from E. cava dried by far infrared radiation drying enhanced cell viability and H2O2 scavenging activity in Vero cells. It was also found that dieckol; a phlorotannin was the major antioxidant compound in this work. Interestingly, a study in antioxidant activity of brown algal phlorotannins demonstrated that phlorotannins of E. cava had significant radical scavenging activities against the superoxide anion and DPPH, and were more effective compared to ascorbic acid and ÃŽ ±-tocopherol [26]. Triphlorethol-A phlorotannin found in E. cava, protects V79-4 cells against oxidative stress induced cell death through up regulation of heme oxygenase-1 (HO-1) [27]. Further, they suggested triphlorethol-A augments cellular antioxidant defense capacity through induction of HO-1 via ERK-Nrf2-ARE signaling pathway, thereby protecting cells from oxidative stress. In another stud y cytoprotective effect of triphlorethol-A against ÃŽ ³-ray radiation-induced oxidative stress was reported [28].

Ted Bundy was a brutal serial killer Essay examples -- essays research

Works Cited â€Å"A Condemned Man’s Last Bequest†. People 6 February, 1989 p. 44-51. Gerdes, Louise. Serial Killers. San Diego: Greenhaven Press Inc.2000. Knappaman, Edward W. Great American Trials. Detroit: New England Publishing, Associates, Inc. 1994. Ted Bundy was a brutal serial killer. He was also very charming and handsome to the ladies, which made it easier to prey on them. He admitted to killing over twenty people just before his execution. Many families were relieved when he was finally executed. Ted Bundy thought of himself as very smart, because he was able to outsmart the authorities multiple times throughout the years of being a serial killer ( Gerdes 41). His victims of choice were young, college age, women ( Gerdes 128). He was in Colorado, on trial, for the brutal murder of a twenty-three year old woman. He used his intelligent mind to escape the prison. He went on and made his way to Florida for no apparent reason. He went to the Chi Omega House at Florida State University and unleashed his wrath on some of the students. He killed one student named Lisa Leavy. He also injured a couple other students severely. One and a half hours later, just after visiting the Chi Omega House, Ted killed another student just six blocks away. Later, the police were trying to pull him over for a minor traffic violation when he fled causing them to chase him. Shortly, they realized he was in a car stolen from near the Chi Omega House. Just days before he killed a twelve ye...

Agency Costs and Financial Decision-Making

Agency Costs and Financial Decision-Making The Concept An agency relationship is a contract under which one or more persons (the principal(s)) engage another person (the agent) to perform some service on their behalf which involves delegating some decision making authority to the agent. If both parties to the relationship are utility maximizers and they may have divergent goals and objectives, and there is good reason to believe that the agent will not always act in the best interests of the principal (Jensen, Michael C. , and William H.Meckling. â€Å"Theory of the Firm, Managerial Behavior, Agency Costs, and Ownership Structure. † Journal of Financial Economics 3 (October 1976), 305-360) The concept of agency cost recognizes there are fundamental differences in how shareholders, managers, and even bondholders interpret their respective relationships to an organization. While they may share some common goals and objectives, there is the potential for at least some objectives to emerge that are focused more on individual enrichment than on the well-being of the whole.For example, managers may be more focused on building a reputation for themselves, possibly creating their own power bases within the structure of the larger organizations. Shareholders may become more focused on earning dividends now and less on the future of the business. Bondholders may be concerned only with the project associated with the bond issue, and lose sight of how the overall stability of the company can have a negative impact on the return earned from that bond. ( http://www. referenceforbusiness. com/encyclopedia/A-Ar/Agency-Theory. tml#ixzz14WVaUW4g) Agency Costs is an economic concept which is defined as the cost incurred by an entity in relation to issues like varied goals and objectives of the management and shareholders and information asymmetry. Self-Interested Behavior Agency theory suggests that, in imperfect labor and capital markets, managers will seek to maximize th eir own utility at the expense of corporate shareholders. Agents have the ability to operate in their own self-interest rather than in the best interests of the firm because of asymmetric information (e. g. , managers know better than shareholders whether they are apable of meeting the shareholders' objectives) and uncertainty (e. g. , myriad factors contribute to final outcomes, and it may not be evident whether the agent directly caused a given outcome, positive or negative). Evidence of self-interested managerial behavior includes the consumption of some corporate resources in the form of perquisites and the avoidance of optimal risk positions, whereby risk-averse managers bypass profitable opportunities in which the firm's shareholders would prefer they invest. Outside investors recognize that the firm will make decisions contrary to their best interests.Accordingly, investors will discount the prices they are willing to pay for the firm's securities. (Bamberg, Giinter, and Klau s Spremann, eds. Agency Theory, Information, and Incentives. Berlin: Springer-Verlag, 1987). A potential agency conflict arises whenever the manager of a firm owns less than 100 percent of the firm's common stock. If a firm is a sole proprietorship managed by the owner, the owner-manager will undertake actions to maximize his or her own welfare. The owner-manager will probably measure utility by personal wealth, but may trade off other considerations, such as leisure and perquisites, against personal wealth.If the owner-manager forgoes a portion of his or her ownership by selling some of the firm's stock to outside investors, a potential conflict of interest, called an agency conflict, arises. For example, the owner-manager may prefer a more leisurely lifestyle and not work as vigorously to maximize shareholder wealth, because less of the wealth will now accrue to the owner-manager. In addition, the owner-manager may decide to consume more perquisites, because some of the cost of th e consumption of benefits will now be borne by the outside shareholders. Bamberg, Giinter, and Klaus Spremann, eds. Agency Theory, Information, and Incentives. Berlin: Springer-Verlag, 1987. ) In the majority of large publicly traded corporations, agency conflicts are potentially quite significant because the firm's managers generally own only a small percentage of the common stock. Therefore, shareholder wealth maximization could be subordinated to an assortment of other managerial goals. For instance, managers may have a fundamental objective of maximizing the size of the firm.By creating a large, rapidly growing firm, executives increase their own status, create more opportunities for lower- and middle-level managers and salaries, and enhance their job security because an unfriendly takeover is less likely. As a result, incumbent management may pursue diversification at the expense of the shareholders who can easily diversify their individual portfolios simply by buying shares in other companies. (http://www. referenceforbusiness. com/encyclopedia/A-Ar/Agency-Theory. html#ixzz14WVaUW4g) Managers can be encouraged to act in the stockholders' best interests through incentives, constraints, and punishments.These methods, however, are effective only if shareholders can observe all of the actions taken by managers. A moral hazard problem, whereby agents take unobserved actions in their own self-interests, originates because it is infeasible for shareholders to monitor all managerial actions. To reduce the moral hazard problem, stockholders must incur agency costs. Measuring Agency Costs The idea behind assessing agency cost is to attempt to identify what impact these differences in objectives and the flow of information between the agent or manager and the shareholders is having on the overall profitability of the organization.By correctly identifying and addressing issues of agency cost, it is possible to minimize the influence of those factors, at least enough to allow the organization to continue moving forward, rather than running the risk of failure. Determining the agency cost normally begins with looking closely at the potential costs or risks associated with including some type of agent or manager in the organizational structure. For example, one potential risk would be the possibility that the individual who is appointed as an officer in the company could seek to use company assets for his or her own personal gain, to the detriment of the company.At the same time, agency cost also looks at the expense involved in anticipating potential abuses of power and resources, and structuring the organization so that abuse is less likely to occur. This may include offering incentives to key employees that promote loyalty and lessen the chance of misappropriation of resources, or structuring the accounting process so that a series of checks and balances create a separation of control, effectively preventing any one individual from having too much power within the organization. http://www. wisegeek. com/what-is-an-agency-cost. htm) Agency costs are defined as those costs borne by shareholders to encourage managers to maximize shareholder wealth rather than behave in their own self-interests. The notion of agency costs is perhaps most associated with a seminal 1976 Journal of Finance paper by Michael Jensen and William Meckling, who suggested that corporate debt levels and management equity levels are both influenced by a wish to contain agency costs. There are three major types of agency costs: 1) Expenditures to monitor managerial activities, such as audit costs (2) Expenditures to structure the organization in a way that will limit undesirable managerial behavior, such as appointing outside members to the board of directors or restructuring the company's business units and management hierarchy (3) Opportunity costs which are incurred when shareholder-imposed restrictions, such as requirements for shareholder votes on s pecific issues, limit the ability of managers to take actions that advance shareholder wealth.In the absence of efforts by shareholders to alter managerial behavior, there will typically be some loss of shareholder wealth due to inappropriate managerial actions. On the other hand, agency costs would be excessive if shareholders attempted to ensure that every managerial action conformed with shareholder interests. Therefore, the optimal amount of agency costs to be borne by shareholders is determined in a cost-benefit context—agency costs should be increased as long as each incremental dollar spent results in at least a dollar increase in shareholder wealth. (http://www. referenceforbusiness. om/encyclopedia/A-Ar/Agency-Theory. html#ixzz14WVaUW4g) Financial decision making for dealing with agency costs There are two polar positions for dealing with shareholder-manager agency conflicts. At one extreme, the firm's managers are compensated entirely on the basis of stock price cha nges. In this case, agency costs will be low because managers have great incentives to maximize shareholder wealth. It would be extremely difficult, however, to hire talented managers under these contractual terms because the firm's earnings would be affected by economic events that are not under managerial control.At the other extreme, stockholders could monitor every managerial action, but this would be extremely costly and inefficient. The optimal solution lies between the extremes, where executive compensation is tied to performance, but some monitoring is also undertaken. In addition to monitoring, the following mechanisms encourage managers to act in shareholders' interests: (1) performance-based incentive plans (2) direct intervention by shareholders (3) the threat of firing (4) the threat of takeoverMost publicly traded firms now employ performance shares, which are shares of stock given to executives on the basis of performances as defined by financial measures such as earn ings per share, return on assets, return on equity, and stock price changes. If corporate performance is above the performance targets, the firm's managers earn more shares. If performance is below the target, however, they receive less than 100 percent of the shares. Incentive-based compensation plans, such as performance shares, are designed to satisfy two objectives.First, they offer executives incentives to take actions that will enhance shareholder wealth. Second, these plans help companies attract and retain managers who have the confidence to risk their financial future on their own abilities—which should lead to better performance. (http://www. referenceforbusiness. com/encyclopedia/A-Ar/Agency-Theory. html#ixzz14WVaUW4g) An increasing percentage of common stock in corporate America is owned by institutional investors such as insurance companies, pension funds, and mutual funds.The institutional money managers have the clout, if they choose, to exert considerable infl uence over a firm's operations. Institutional investors can influence a firm's managers in two primary ways. First, they can meet with a firm's management and offer suggestions regarding the firm's operations. Second, institutional shareholders can sponsor a proposal to be voted on at the annual stockholders' meeting, even if the proposal is opposed by management.Although such shareholder-sponsored proposals are nonbinding and involve issues outside day-to-day operations, the results of these votes clearly influence management opinion. (http://www. referenceforbusiness. com/encyclopedia/A-Ar/Agency-Theory. html#ixzz14WVaUW4g) In the past, the likelihood of a large company's management being ousted by its stockholders was so remote that it posed little threat. This was true because the ownership of most firms was so widely distributed, and

Bringing Fun to an Organization

The typical workplace is set up to enhance productivity and accomplishments. As such, most employees know the workplace as a place where they go to earn a living to earn a living, while accomplishing the goals set by the employer. Without putting specific effort at bringing fun to the workplace, only a small percentage of workers find some enjoyment or job satisfaction from their jobs. Seeing that this is common across many workplaces and directly affects the job output, employers have nowadays adopted ways of creating fun workplaces as a business strategy (Jeffcoat & Gibson 2006).The best way to start-off in bringing fun to the workplace is recruiting employees who have a sense of humor. According to Narisi (2008), the perfect way to gauge whether a job candidate poses a sense of humor is by watching the way he or she responds to interview questions. One of the important questions that the interviewer should answer is, is this person taking him or herself too seriously even in quest ions that do not require much seriousness? Narisi (2008) suggests the use of ‘dumb’ questions like, ‘why aren’t you married yet? ’, ‘what do you think of the paintings in our office?Among others. Greenwood (2009), states that a survey on 700 American CEOs revealed that 98 percent of them preferred interviewing job candidates with a sense of humor. Most of these CEOs attested to having a passion of not only attracting upbeat candidates, but also admitted to recruiting such and working hard to retain such in their respective organizations. After settling down with the workforce who satisfies the humor criteria, Ryan& associates (2004), suggests that employers should introduce other things like dressing for fun on specific days.Despite having the ‘dress for fun’ days in the office, the employer can encourage the staff to wear something frivolous that does not have to be visible, but serves to remind them that they should not take them selves too seriously. According to Urquhart (2003), it is the responsibility of managers to orchestrate fun in the workplace, but he or she should be cognizant of the fact that the employees create fun in the workplace. As such, the managers should act as facilitators to ensure that employees have all the resources and freedom needed to transform the workplace in to a fun place.There is controversy among analysts of just how productive a fun-filled workplace is. To this, Urquhart (2003) argues that a depressed mind is less productive than one that is jovial. In addition, fun creates a positive mental state, where employees learn to love their work and create a bond between employees who share jokes thus creating stronger work teams. Scientists also claim that fun and laughter stimulates the production of oxygen and endorphins to the brain, which results in increased creativity and clear thinking among employees (Urquhart, 2003). In the allbusimess.com (2008) website, employers are e ncouraged to allow the employees to have flextime in their job schedules. The website states that this shows the employees that the employer is concerned about their welfare. Accordingly, the employee perception motivates them leading to a less stressful and more productive workforce (allbusiness. com, 2008). This perception is backed up by countless other websites, which advocate for the use of fun in the workplace as a sure way of relieving stress, improving the individual health of employees and boosting the overall production of the organization.According to a study conducted by Karl & Peluchette (2006), and published in the Journal of Leadership and Organizational studies, employees who worked in fun environments had more confidence in their jobs and were able to serve their clientele better. This argument is backed by Jeffcoat & Gibson (2006), who agree that fun in the workplace results in lower downtimes, increased productivity, better job satisfaction and low absenteeism. Th is gives employers even more reasons to find ways of incorporating fun in the workplace.According to Lynn (2005), bringing fun to the work place is not as easy as many people might wan to believe. This is especially the case where employees and their managers have had conflicting paths regarding flexibility in the workplace. To beat the odds, Lynn (2005) suggests that employers need to create a trusting environment before adopting fun in the workplace. If they fail to create a trusting environment, chances are that the employees will reject any efforts to create fun in the work place.Trust in the workplace can be created through effective communication and respect, which wipes out negative emotions such as fear, hostility and scorn from the employees. According to jobsdb. com (2009), the major responsibility of bringing fun to the workplace lies with the manager. He or she is supposed to schedule breaks, during which employees can engage in fun-filled activities. In addition, he or she can seek employee opinions regarding cultivating fun in the workplace. Such could be by holding contests, celebrations or team-building activities.Another approach of bringing fun to an organization would be the use of morale officer’s who interact with the employees at all times, checking if there are any morale needs that needs to be addressed (Stafford, 2000). The Morale officers’ sole responsibility is to ensure that employees have a reason to look forward to the work environment with renewed anticipation each day. Fun is the one guaranteed way to achieve this. They may seek employee opinions on how best to achieve the organization objectives over lunch or tea.This breaks the office formality and leaves the employees more relaxed. To be successful in making the workplace a fun place, Stafford (2000) suggests that the morale officers should work on five pointers namely, i)feedback from employees, ii) humor, iii)bringing employees together, iv) a reward process f or the employees and v) Sticking to the organization’s mission by engaging in creative and innovative work. As noted earlier in this speech, the fun in the workplace is not an easy thing to achieve. According to McGarvey (2006, fun in the workplace does not happen.Rather, it takes hard work and creativity, mostly from the organization leaders. To bring fun to the work place hence requires the direct participation of the managerial leaders in the company. As such, it would be futile for the top organization management to issue orders for the employees to have fun, if they do not lead and demonstrate how fun in the company should be modeled. Even employees agree that the best fun trend in the workplace is set from the top management. A perfect example is the CEO and founder of Cognex Corporation, Dr.Robert Shillman, who indulges his employees to creative bonuses, where rather than giving them token money, he looks for fun alternative ways through which they can enjoy their bene fits. Shillman is renowned for his work hard and play hard style of management (cognex. com, 2009). To him, the adage â€Å"all work and no play make Jack a dull boy† stands true. The same spirit of leading from the front was exhibited by Wal-mart’s founder, Sam Walton, who not only wore a hula skirt, but also led employees in the giant retailer for a dance along Wall Street (Greenwood, 2009)..Shillman’s management style is celebrated by Joe Neulinger (quoted by Greenwood, 2009), who states that people who do not see the need for fun in the workplace are less likely to become CEOs. This observation is shared by Fry (2001), who states that managers who scores poorly on the fun scale are bad leaders whose lack of ‘a funny bone’ is evident through the unmotivated and less productive teams that they lead. Fry’s suggestion to managers is that they should begin meetings on good cheer, by maybe saying something nice about the workforce, the day or b y creating a fun-filled challenge for the group.According to Fry (2001), the possibilities of how much fun the managers can create in the work environment is limitless. However, as indicated elsewhere in the speech, it requires working on. As such, it will require a deliberate effort from the managers to create a fun workplace. Some of them might however dismiss this by saying that people should just do what they were hired to do. For this, the answer is just as blunt; managers, who expect their employee to do nothing else but work while at work, will most likely get less than the expected results.On the other hand, those who induce fun activities in the job environment ends up with an increased bottom line, without having to pressurize employees in to working harder (Fry, 2001). It is thus upon managers to choose, which of the two ways best suits them. Weinstein (1997) suggests that fun can be brought into the work place by doing things differently. For example, instead of generali zing the reward systems such that every employee gets the same reward, a little creativity can infuse fun in the reward program.When such happens, Weinstein, who is also the President PlayFair Inc reckons that the reward scheme becomes more personalized and memorable to each recipient employee. In addition, the employees take pride in not only the reward, but also the means through which the reward was presented to them. The employee can for example take the employees to a shopping mall, hand them money and instruct them to purchase personal gifts in a specified time limit. From such an activity, the employee not only appreciates the reward, but the shopping experience. However, it is not the responsibility of the managers to bring fun to the organization.The individual employees too have a responsibility that they enjoy their jobs, which is the most likely way to achieving job satisfaction amongst them. This however is partly dependent on whether the environment at work place allow s them to indulge in fun activities. Hemsath (1997) reckons that in the environment where employees are required to be optimally productive despite the stressful environment that the conventional workplace is, it is incumbent that employees find fun in the workplace without necessarily waiting for the employers hell-bent at changing nothing about the old workplace to affect the fun-changes for them.The best strategy for employees as stated by Hemsath (1997) starts with one self. Here the employee sets to become the fun-catalyst in the office and enliven the spontaneous spirit between him and his co-workers. This can be as effortless as changing one’s title, to take up a more funny title. Secondly, an individual employee can set it upon himself to inspire fun in his colleagues. This is done through encouraging them to take-up fun activities, recognizing and supporting their efforts at creating amusement.If the work environment allows, individual workers can carry toys, play fu nny music and even post colorful pictures that boost their spirits when at work. The employees can also influence the management to create rooms where the environment is less tense. Another way that individual employees can contribute to fun in an organization is by looking for humor in their situations (Hemsath, 1997). Every situation has its dark and lighter sides. An optimistic employee will concentrate more on the brighter sides of everything, which is more fun than the gloomy downside.To make the workplace comfortable for everyone however, the management and the employees must distinguish between beneficial fun, and jokes that may be deemed offensive by some parties. As such, Vikesland (2007), suggests that the workplace should have some fun rules that distinguish between what is acceptable and outright breach of company policies. As such, the employees should be made to understand that fun is not mocking, mimicking or teasing other co-workers or management. Off-color jokes, se xual innuendos, deception, sarcasm, dark humor and ethnic jokes do not qualify as fun in the workplace too.Conclusion The modern day manager realizes the benefits of bringing fun in an organization. With the countless resources propagating the benefits of bringing fun aboard the organization, well meaning CEOs, Managers or Corporate Strategists will no doubt try incorporating fun into their management styles. While there are countless ways to have fun in the workplace, the general guess however remains that some employees may be too distracted by the fun and hence loose out on the productivity.However, the success stories of same management styles that have adopted fun in the workplace indicates that there are variable ways of ensuring that despite the fun, employees not only meet their targets, but also exceed them. Companies like Google have demonstrated that fun and productivity can go hand-in-hand (Bryant, 2007). What Google offers – play station games, free food, scooter s and pets among other things- are just an example of what organizations can give or allow their employees to indulge in.A peak of what life in the Google offices is like can be viewed at http://www. cnn. com/video/#/video/business/2007/01/05/fortune. best. cos. to. work. for. cnn. cnn According to Bathurst (2008), fun in the work place has more than simple benefits. Besides improving productivity, organizations are using it today to battle employee turnover. This is because employees who enjoy the work environment are more likely to stick in the same job for longer than disgruntled employees are. Besides, employees today have more choices and can easily change jobs than was the case in the 1950’s.In conclusion, fun in the workplace has become the new business management trend that people believe encourages employee creativity, morale, satisfaction, productivity and increases employee retention. As such, fun has undeniably become an integral part of the modern corporate cultu re. References Allbusiness. com. (2008). Making the Workplace Fun. AllBusiness: A D& B company. Retrieved 06 May 2009 from http://www. allbusiness. com/human-resources/employee-development-team-building/11357-1. html Barthurst, Patricia. (2008). Having fun at work increases Loyalty, Productivity.AZcentral. com. Retrieved from http://www. azcentral. com/business/articles/2008/06/01/20080601biz-funatwork0601-ON. html Bryant, Steve. (2007). Perks du Soleil: Fun-Loving Google named Best place to Work. Retrieved from http://googlewatch. eweek. com/content/inside_google/perks_du_soleil_google_named_best_place_to_work. html Cognex. com. (2009). Cognex Corporation: Senior Management. Retrieved from http://www. cognex. com/CognexInfo/Leadership/default. aspx? id=210 Fry, Ann. (2001). Just Having Fun at work can boost productivity. Austin Business Journal.Retrieved http://austin. bizjournals. com/austin/stories/2001/06/04/smallb4. html Greenwood, Ramon. Are you Having Fun at Work? Career Know -how. Retrieved from http://www. careerknowhow. com/guidance/fun. htm Hemsath, Dave. (1997). Are we having Fun Yet? Journal of Quality and participation. Retrieved from http://findarticles. com/p/articles/mi_qa3616/is_199711/ai_n8773216/pg_2/? tag=content;col1 Jeffcoat & Gibson. (2006). Fun as Serious as Business: Creating a Fun Work Environment As an Effective Business Strategy. Journal of Business and Economic Research.Vol. 4. No. 2. Retrieved from http://www. cluteinstitute-onlinejournals. com/PDFs/2006321. pdf jobsdb. com. (2009). Making the Workplace Fun. JobsDB. com. Retrieved from http://th. jobsdb. com/TH/EN/V6HTML/Home/humanresource_editor26. htm Karl & Peluchette. (2006). How does Workplace Fun Impact employee Perceptions of Customer service Quality. Abst. Journal of Leadership & Organizational Studies. Vol. 13. No. 2. Retrieved from http://jlo. sagepub. com/cgi/content/abstract/13/2/2 Lynn, Harland. (2005). Attitudes toward Workplace fun: A Three-Sector Comparison.Journal of Leadership & Organizational Studies. Retrieved http://www. allbusiness. com/buying_exiting_businesses/3503649-1. html Narisi, Sam. (2008). HR’s Funny side: What Kind of Fruit would you be? HR Recruiting Alert. com. Retrieved 06 May 2009 from http://www. hrrecruitingalert. com/hrs-funny-side-what-kind-of-nut-would-you-be/ McGarvey, Robert. (1996). Comic Relief- Having fun at Work. Entrepreneur Journal. Retrieved from http://findarticles. com/p/articles/mi_m0DTI/is_n10_v24/ai_18726422/pg_2/? tag=content;col1 Ryan, Kevin. (2004). Humor in Business: 16 ways

Antarctica and Argentina

Denise Broers Mr. Rodriguez Geography 1 9 september 2009 Argentina Argentina occupies most of the southern part of South America. Uruguay, Brazil, Paraguay, and Bolivia lie on its northern borders. Argentina’s eastern coastline is washed by the Atlantic Ocean. Its southern tip reaches almost to the continent of Antartica. Argentina’s varied geography includes the Perito Moreno glacier in the southern Andes. This is one of the few glaciers in the world still advancing. Argentina has 1,056,640 square miles making it South America’s second largest country, after Brazil.Argentina has a wide variety of landscapes including mountains, forests, plains, and deserts. The Iguacu Falls onareas stretch across northern Argentina. To the west, great forests cover the Gran Chaco. To the east, hot, humid grasslands abound. Farmers raise livestock and grow crops in the fertile soil. The Andes tower over the western part of Argentina. Snow-capped peaks and clear blue lakes draw to urists who come to ski and hike. Mount Aconcagua soars to height of almost 23,000 feet and is the highest mountain in the Western Hemisphere.East of the Andes is a region of rolling hills and desert valleys. Farmers use mountain stream water to grow sugarcane, corn, and grapes. In the center of Argentina are treeless plains know as the Pampa. The Pampa spreads almost 500 miles from the Atlantic coast to the Andes. Argentina’s economy depends of this region’s fertile soil and mild climate. Most of Argentina’s urban areas are here with more than two-thirds of the population living here. Buenos Aires, The capitol and largest city, lies in the area where the Pampa meets the Rio de la Plata.

PEST Analysis of China Essay

I.Introduction Nowadays, China has become one of the world’s most attractive locations and China’s risecarries enormous significant for the international business communities. China has a very gooddevelopment in term of legal system, the size of the market, the low cost of labor and China’sgrowth potential together offer unprecedented business opportunities for foreign investor to do business in China.International business have developed very rapidly in China and today, China becomeincreasingly integrated with other parts of the world and opened up to a whole range of cross- border economic activities. Managing an international business in China is not an easy task andthere are some challenges will be occurred. The prime challenge for those interested in doing business in China is achieving their strategic objectives of cost reduction, local differentiationand the strengthening of core competencies in their specific functional areas and businessactivities.China is the formal member of World Trade Organization (WTO) since 2001 and from thedate, China enjoyed all the rights the WTO gives to other members and full participates in WTOactivities. China’s entry will benefit its national economy, as well as encourage global economicgrowth and the improvement of the multilateral trade system. WTO membership opens upChina’s market for more international trade and investment, and opens up the world economy for China’s exports.This report will cover the reason for doing business in China, defines and identify the macroenvironment of China in term of political, economic, social and technology factors in order to do business in China and the impact of China on joining WTO olitical Environment of China The Chinese political system characterized as one-party communist dictatorship makes a great contribution to national stability, enabling the economy keep dynamic and sustainable. Nevertheless, when the economic system was deregulated from the command economy to market economy since 1978, the power of economic management was increasingly decentralized, raising the issue of uncoordinated development of regional economy. Currently, though the central government has made effort to alleviate the gap among different areas in terms of developing standards, provinces tend to give a priority to  local profits rather than considering the integrated advancement of the whole country. Local protectionism exerts detrimental influences upon market expansion of Golden Bridge Company in nationwide and deters the establishment of a comprehensive distribution channel. Since the introduction of economic reforms in 1978, China has become one of the world’s fastest-growing major economies. As of 2013, it is the world’s second-largest economy by both nominal total GDP and purchasing power parity (PPP), and is also the world’s largest exporter and importer of goods. China is a regional power within Asia and has been characterized as a potential superpower by a number of commentators. China allows foreign businesses to enter. However, the government has issued policies that ban console games and certain online games. The restrictions set by the government could be troublesome since Square Enix’s main product line are video games. This would require Square Enix to readjust their main products, which is unrealistic. Economical Environment China is valued as one of the most vibrant countries in terms of economic development among the world. The reform & opening up in 1978 accelerated China’s GDP growth from 362.4 billion RMB to 30 trillion RMB within a 30-year period. Moreover, in 2010, China has been the second largest economy instead of Japan whilst the value of export accounted for 10% of world. Based on these statistics, judgment can be made that manufactures in China including flooring industry may keep an optimistic attitude to their future prospects in some extent. Nonetheless, Chinese economy may suffer unpredictable circumstance in the future. China has the third largest economy in the world and has a continuously growing economy. This allows China to sustain itself and Square Enix will be able to expand into China. The earthquake in Japan has little influence over China. There will be limited trade between China and Japan, however, Japan is China’s top fifth destination for China to export their goods. This may lead to some products, such as clothing and electronic equipment, to not be traded as much. This will also may lead to harming China’s economy. Labor resource is one double-edge sword. Once being an advantage of China, abundant labor resource and economical labor price make a great contribution to progress of those  labor-intensive manufacturing industries. This is also the primary reason that China flooring industry is quite profitable though China is a net importer of timber. Social Environment It is claimed by Su and Littlefied (2001) that China is an extremely high-context country where people prefer to receive implied messages. For establishing a business in China, strong private-relationships with different stakeholders is the key to success. However, this is extremely time-consuming while the maintenance is also expensive. Potential conflicts in interest may easily erode it. Besides the relationship, corruption is another issue in China. According to the Corruption Perceptions Index, China was positioned 72nd among all 179 countries in 2008. However, damages caused by corruption may be far more hazardous than anticipated, particularly to the economic development. Corruption has been treated as a vital barrier for operating in Chinese market due to enormous back-stage expenditures as well as resulted injustice. For Golden Bridge to gain more import quotas and pay less tariff, costs may be made up of not only normal ingredients such as transporting, but also implied expense for ‘smoothing the network. China has a lot of gamers in the country. This allows Square Enix to create products to target these customers since their main focus is on games. Also, since there is a huge population, there is surely to be enough potential customers willing to buy Square Enix’s products. However, because of the ban on console games, Square Enix will have to be able to adapt and understand the culture of online gamers in China. Technological Environment Science and technology in China has in recent decades developed rapidly. The Chinese government has placed emphasis through funding, reform, and societal status on science and technology as a fundamental part of the socio-economic development of the country as well as for national prestige. China wood flooring industry is experiencing a relatively laggard technological standard in its initial stage of development. According to Cheng and Song, the level of timber utilization was 61% in 2004 with a considerable disparity with developed countries, that is nearly 90%. Additionally,  imbalanced technological support aggravates the long-term conflicts between wood supply and demand in Chinese domestic market. China has made rapid advances in areas such as education, infrastructure, high-tech manufacturing, academic publishing, patents, and commercial applications and is now in some areas and by some measures a world leader. China is now increasingly targeting indigenous innovation and aims to reform remaining weaknesses. In 2004, though the total domestic timber supply is 273.6 million cubic meters and exceeded the total consumption of 241.5 million cubic meters, scarcity of raw material still existed in some parts of timber manufacturing industry. China has increasingly encouraged multinational corporations to create R&D centers in China. Chinese critics have argued that foreign owned R&D mainly benefits foreign companies and removes many talented Chinese researchers from indigenous companies and institutions. Chinese supporters have argued that the foreign R&D serves as a role model and encouragement for indigenous companies and creates skilled communities from which labor and knowledge can easily flow to indigenous companies. In 2010 there were 1,200 such R&D centers and 400 out the Fortune 500 corporations had created such R&D centers. Political Environment of China The Chinese political system characterized as one-party communist dictatorship makes a great contribution to national stability, enabling the economy keep dynamic and sustainable. Nevertheless, when the economic system was deregulated from the command economy to market economy since 1978, the power of economic management was increasingly decentralized, raising the issue of uncoordinated development of regional economy. Currently, though the central government has made effort to alleviate the gap among different areas in terms of developing standards, provinces tend to give a priority to local profits rather than considering the integrated advancement of the whole country. Local protectionism exerts detrimental influences upon market expansion of Golden Bridge Company in nationwide and deters the establishment of a comprehensive distribution channel. Since the introduction of economic reforms in 1978, China has become one of the world’s fastest-growing major economies. As of 2013, it is the world’s  second-largest economy by both nominal total GDP and purchasing power parity (PPP), and is also the world’s largest exporter and importer of goods. China is a regional power within Asia and has been characterized as a potential superpower by a number of commentators. China allows foreign businesses to enter. However, the government has issued policies that ban console games and certain online games. The restrictions set by the government could be troublesome since Square Enix’s main product line are video games. This would require Square Enix to readjust their main products, which is unrealistic. Economical Environment China is valued as one of the most vibrant countries in terms of economic development among the world. The reform & opening up in 1978 accelerated China’s GDP growth from 362.4 billion RMB to 30 trillion RMB within a 30-year period. Moreover, in 2010, China has been the second largest economy instead of Japan whilst the value of export accounted for 10% of world. Based on these statistics, judgment can be made that manufactures in China including flooring industry may keep an optimistic attitude to their future prospects in some extent. Nonetheless, Chinese economy may suffer unpredictable circumstance in the future. China has the third largest economy in the world and has a continuously growing economy. This allows China to sustain itself and Square Enix will be able to expand into China. The earthquake in Japan has little influence over China. There will be limited trade between China and Japan, however, Japan is China’s top fifth destination for China to export their goods. This may lead to some products, such as clothing and electronic equipment, to not be traded as much. This will also may lead to harming China’s economy. Labor resource is one double-edge sword. Once being an advantage of China, abundant labor resource and economical labor price make a great contribution to progress of those labor-intensive manufacturing industries. This is also the primary reason that China flooring industry is quite profitable though China is a net importer of timber. Social Environment It is claimed by Su and Littlefied (2001) that China is an extremely  high-context country where people prefer to receive implied messages. For establishing a business in China, strong private-relationships with different stakeholders is the key to success. However, this is extremely time-consuming while the maintenance is also expensive. Potential conflicts in interest may easily erode it. Besides the relationship, corruption is another issue in China. According to the Corruption Perceptions Index, China was positioned 72nd among all 179 countries in 2008. However, damages caused by corruption may be far more hazardous than anticipated, particularly to the economic development. Corruption has been treated as a vital barrier for operating in Chinese market due to enormous back-stage expenditures as well as resulted injustice. For Golden Bridge to gain more import quotas and pay less tariff, costs may be made up of not only normal ingredients such as transporting, but also implied expense for ‘smoothing the network. China has a lot of gamers in the country. This allows Square Enix to create products to target these customers since their main focus is on games. Also, since there is a huge population, there is surely to be enough potential customers willing to buy Square Enix’s products. However, because of the ban on console games, Square Enix will have to be able to adapt and understand the culture of online gamers in China. Technological Environment Science and technology in China has in recent decades developed rapidly. The Chinese government has placed emphasis through funding, reform, and societal status on science and technology as a fundamental part of the socio-economic development of the country as well as for national prestige. China wood flooring industry is experiencing a relatively laggard technological standard in its initial stage of development. According to Cheng and Song, the level of timber utilization was 61% in 2004 with a considerable disparity with developed countries, that is nearly 90%. Additionally, imbalanced technological support aggravates the long-term conflicts between wood supply and demand in Chinese domestic market. China has made rapid advances in areas such as education, infrastructure, high-tech manufacturing, academic publishing, patents, and commercial applications and is now in some areas and by some measures a world leader. China is now increasingly targeting indigenous innovation and aims to reform remaining  weaknesses. In 2004, though the total domestic timber supply is 273.6 million cubic meters and exceeded the total consumption of 241.5 million cubic meters, scarcity of raw material still existed in some parts of timber manufacturing industry. China has increasingly encouraged multinational corporations to create R&D centers in China. Chinese critics have argued that foreign owned R&D mainly benefits foreign companies and removes many talented Chinese researchers from indigenous companies and institutions. Chinese supporters have argued that the foreign R&D serves as a role model and encouragement for indigenous companies and creates skilled communities from which labor and knowledge can easily flow to indigenous companies. In 2010 there were 1,200 such R&D centers and 400 out the Fortune 500 corporations had created such R&D centers.